Document:

Exhibit 10.2

 

NEITHER THIS SECURITY NOR THE SECURITIES
FOR WHICH THIS SECURITY IS EXERCISABLE HAVE 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 AND THE SECURITIES ISSUABLE UPON EXERCISE OF THIS SECURITY
MAY BE PLEDGED IN CONNECTION WITH A BONA FIDE MARGIN ACCOUNT OR OTHER LOAN SECURED BY SUCH SECURITIES.

 

WARRANT TO PURCHASE ORDINARY SHARES REPRESENTED
BY AMERICAN DEPOSITARY SHARES

 

CAN-FITE BIOPHARMA LTD.

 

	Warrant No.: 2019 April - __	Initial Exercise Date: April __, 2019
	 	Issuance Date:  April __, 2019

 

Number of American Depositary Shares: ________________

 

THIS WARRANT TO PURCHASE
ORDINARY SHARES REPRESENTED BY AMERICAN DEPOSITARY SHARES (the “Warrant”) certifies that, for value received,
_____________ or its assigns (the “Holder”) is entitled, upon the terms and subject to the limitations on exercise
and the conditions hereinafter set forth, at any time on or after April 4, 2019 (the “Initial Exercise Date”)
and on or prior to 5:00 p.m. (New York City time) on ____________________1
(the “Termination Date”) but not thereafter, to subscribe for and purchase from Can-Fite BioPharma Ltd., an
Israeli limited company (the “Company”), up to ______ Ordinary Shares (the “Warrant Shares”)
represented by ________2 American Depositary Shares
(“ADSs”), as subject to adjustment hereunder (the “Warrant ADSs”). The purchase price of
one Warrant ADS shall be equal to the Exercise Price, as defined in Section 2(b).

 

Section 1. Definitions.
Capitalized terms used and not otherwise defined herein shall have the meanings set forth in that certain Securities Purchase Agreement
(the “Purchase Agreement”), dated April 2, 2019 among the Company and the purchasers signatory thereto.

 

Section 2. Exercise.

 

a) Exercise
of Warrant. Exercise of the purchase rights represented by this Warrant may be made, in whole or in part, at any time or times
on or after the Initial Exercise Date and on or before the Termination Date by delivery to the Company (or such other office or
agency of the Company as it may designate by notice in writing to the registered Holder at the address of the Holder appearing
on the books of the Company) and the Depositary of a duly executed facsimile copy (or .pdf copy via e-mail) of the Notice
of Exercise in the form annexed hereto (the “Notice of Exercise”). Within the earlier of (i) two (2) Trading
Days and (ii) the number of Trading Days comprising the Standard Settlement Period (as defined in Section 2(d)(i) herein) following
the date of exercise as aforesaid the Holder shall deliver the aggregate Exercise Price of the Warrant ADSs thereby purchased by
wire transfer or cashier’s check drawn on a United States bank or, if available, pursuant to the cashless exercise procedure
specified in Section 2(c) below. No ink-original Notice of Exercise shall be required, nor shall any medallion guarantee (or other
type of guarantee or notarization) of any Notice of Exercise be required. Notwithstanding anything herein to the contrary, the
Holder shall not be required to physically surrender this Warrant to the Company until the Holder has purchased all of the Warrant
ADSs available hereunder and the Warrant has been exercised in full, in which case, the Holder shall surrender this Warrant to
the Company for cancellation within three (3) Trading Days of the date the final Notice of Exercise is delivered to the Company.
Partial exercises of this Warrant resulting in purchases of a portion of the total number of Warrant ADSs available hereunder shall
have the effect of lowering the outstanding number of Warrant ADSs purchasable hereunder in an amount equal to the applicable number
of Warrant ADSs purchased. The Holder and the Company shall maintain records showing the number of Warrant ADSs purchased and the
date of such purchases. The Company shall deliver any objection to any Notice of Exercise within one (1) Trading Day of receipt
of such notice. The Holder and any assignee, by acceptance of this Warrant, acknowledge and agree that, by reason of the provisions
of this paragraph, following the purchase of a portion of the Warrant ADSs hereunder, the number of Warrant ADSs available for
purchase hereunder at any given time may be less than the amount stated on the face hereof.

 

 

		1	Insert the date that is the five (5) year anniversary of
the Initial Exercise Date, provided that, if such date is not a Trading Day, insert the immediately following Trading Day.

		2	2 Ordinary Shares for each ADS.

 

     

     

    

 

b) Exercise
Price. The exercise price per ADS under this Warrant shall be $0.86, subject to adjustment hereunder (the “Exercise
Price”).

 

c) Cashless
Exercise. If at any time after the 6-month anniversary of the Issuance Date there is no effective Registration Statement registering,
or no current prospectus available for, the resale of the Warrant ADSs by the Holder, then this Warrant may also be exercised,
in whole or in part, at such time by means of a “cashless exercise” in which the Holder shall be entitled to receive
a number of Warrant ADSs equal to the quotient obtained by dividing [(A-B) (X)] by (A), where:

 

		(A) = 	as applicable: (i) the VWAP on the Trading Day immediately
preceding the date of the applicable Notice of Exercise if such Notice of Exercise is (1) both executed and delivered pursuant
to Section 2(a) hereof on a day that is not a Trading Day or (2) both executed and delivered pursuant to Section 2(a) hereof on
a Trading Day prior to the opening of “regular trading hours” (as defined in Rule 600(b)(64) of Regulation NMS promulgated
under the federal securities laws) on such Trading Day, (ii) at the option of the Holder, either (y) the VWAP on the Trading Day
immediately preceding the date of the applicable Notice of Exercise or (z) the Bid Price of the ADSs on the principal Trading
Market as reported by Bloomberg L.P. as of the time of the Holder’s execution of the applicable Notice of Exercise if such
Notice of Exercise is executed during “regular trading hours” on a Trading Day and is delivered within two (2) hours
thereafter (including until two (2) hours after the close of “regular trading hours” on a Trading Day) pursuant to
Section 2(a) hereof or (iii) the VWAP on the date of the applicable Notice of Exercise if the date of such Notice of Exercise
is a Trading Day and such Notice of Exercise is both executed and delivered pursuant to Section 2(a) hereof after the close of
“regular trading hours” on such Trading Day;

 

		(B) = 	the Exercise Price of this Warrant, as adjusted hereunder;
and

 

		(X) = 	the number of Warrant ADSs that would be issuable upon
exercise of this Warrant in accordance with the terms of this Warrant if such exercise were by means of a cash exercise rather
than a cashless exercise.

 

“Bid
Price” means, for any date, the price determined by the first of the following
clauses that applies: (a) if the ADSs are then listed or quoted on a Trading Market, the bid price of the ADSs for the time in
question (or the nearest preceding date) on the Trading Market on which the ADSs are then listed or quoted as reported by Bloomberg
L.P. (based on a Trading Day from 9:30 a.m. (New York City time) to 4:02 p.m. (New York City time)), (b) if OTCQB or OTCQX is not
a Trading Market, the volume weighted average price of the ADSs for such date (or the nearest preceding date) on OTCQB or OTCQX
as applicable, (c) if the ADSs not then listed or quoted for trading on OTCQB or OTCQX and if prices for the ADSs are then reported
in the “Pink Sheets” published by OTC Markets Group, Inc. (or a similar organization or agency succeeding to its functions
of reporting prices), the most recent bid price per share of the ADSs so reported, or (d) in all other cases, the fair market value
of an ADSs as determined by an independent appraiser selected in good faith by the Holders of a majority in interest of the Securities
then outstanding and reasonably acceptable to the Company, the fees and expenses of which shall be paid by the Company.

 

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“VWAP”
means, for any date, the price determined by the first of the following clauses that applies: (a) if the ADSs then listed or quoted
on a Trading Market, the daily volume weighted average price of the ADSs for such date (or the nearest preceding date) on the Trading
Market on which the ADSs then listed or quoted as reported by Bloomberg L.P. (based on a Trading Day from 9:30 a.m. (New York City
time) to 4:02 p.m. (New York City time)), (b) if OTCQB or OTCQX is not a Trading Market, the volume weighted average price of the
ADSs for such date (or the nearest preceding date) on OTCQB or OTCQX as applicable, (c) if the ADSs not then listed or quoted for
trading on OTCQB or OTCQX and if prices for the ADSs are then reported in the “Pink Sheets” published by OTC Markets
Group, Inc. (or a similar organization or agency succeeding to its functions of reporting prices), the most recent bid price per
ADS so reported, or (d) in all other cases, the fair market value of an ADS as determined by an independent appraiser selected
in good faith by the Holders of a majority in interest of the Securities then outstanding and reasonably acceptable to the Company,
the fees and expenses of which shall be paid by the Company.

 

If
Warrant ADSs are issued in such a cashless exercise, the parties acknowledge and agree
that in accordance with Section 3(a)(9) of the Securities Act, the Warrant ADSs shall
take on the characteristics of the Warrants being exercised, and the holding period of the Warrants being exercised may be tacked
on to the holding period of the Warrant ADSs.  The Company agrees not to
take any position contrary to this Section 2(c).

 

d) Mechanics
of Exercise.

 

i. Delivery
of Warrant ADSs Upon Exercise. Within 1 Trading day of the date that a Notice of Exercise is delivered to the Company, the
Company shall deposit the Warrant Shares subject to such exercise with The Bank of New York Mellon, the Depositary for the ADSs
(the “Depositary”) and instruct the Depositary to credit the account of the Holder’s prime broker with
The Depository Trust Company through its Deposit/Withdrawal At Custodian system (“DWAC”) if the Depositary is
then a participant in such system and either (A) there is an effective registration statement registering for resale of the Warrant
Shares represented by the Warrant ADSs by the Holder or (B) the Warrant Shares represented by the Warrant ADSs are eligible for
resale by the Holder without volume or manner-of-sale limitations pursuant to Rule 144 and the Warrant ADSs have been sold by the
Holder prior to the Warrant ADS Delivery Date (as defined below), and otherwise by physical delivery to the address specified by
the Holder in the Notice of Exercise, by the date that is the earlier of (i) two (2) Trading Days and (ii) the number of Trading
Days comprising the Standard Settlement Period after the delivery to the Company of the Notice of Exercise (such date, the “Warrant
ADS Delivery Date”). If the Warrant ADSs can be delivered via DWAC, then in addition to the delivery of the Warrant Shares
to the Depositary, within one (1) Trading Day of the applicable exercise, the Depositary shall have received from the Company any
legal opinions or other documentation required by the Depositary to deliver such ADSs without legend and, if applicable and requested
by the Company prior to the Warrant ADS Delivery Date, the Depositary shall have received from the Holder a confirmation of sale
of the Warrant ADSs (provided the requirement of the Holder to provide a confirmation as to the sale of Warrant ADSs shall not
be applicable to the issuance of unlegended Warrant ADS’s upon a cashless exercise of this Warrant if the Warrant ADSs are
then eligible for resale pursuant to Rule 144(b)(1)). The Warrant Shares represented by the Warrant ADSs shall be deemed to have
been issued, and Holder or any other person so designated to be named therein shall be deemed to have become the beneficial owner
of such Warrant Shares represented by the Warrant ADSs for all purposes, as of the date the Warrant has been exercised, with payment
to the Company of the Exercise Price (or by cashless exercise, if permitted) and all taxes required to be paid by the Holder, if
any, pursuant to Section 2(d)(vi) prior to the issuance of such Warrant ADSs having been paid. As used herein, “Standard
Settlement Period” means the standard settlement period, expressed in a number of Trading Days, on the Company’s
primary Trading Market with respect to the ADSs as in effect on the date of delivery of the Notice of Exercise.

 

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ii. Delivery
of New Warrants Upon Exercise. If this Warrant shall have been exercised in part, the Company shall, at the request of a Holder
and upon surrender of this Warrant certificate, at the time of delivery of the Warrant ADSs, deliver to the Holder a new Warrant
evidencing the rights of the Holder to purchase the unpurchased Warrant ADSs called for by this Warrant, which new Warrant shall
in all other respects be identical with this Warrant.

 

iii. Rescission
Rights. If the Company fails to cause the Transfer Agent to transmit to the Holder the Warrant ADSs pursuant to Section 2(d)(i)
by the Warrant ADS Delivery Date, then the Holder will have the right to rescind such exercise; provided, however,
that the Holder shall be required to return any Warrant ADSs or Warrant Shares subject to any such rescinded exercise notice concurrently
with the return to Holder of the aggregate Exercise Price paid to the Company for such Warrant ADSs and the restoration of Holder’s
right to acquire such Warrant ADSs pursuant to this Warrant (including, issuance of a replacement warrant certificate evidencing
such restored right).

 

iv. Compensation
for Buy-In on Failure to Timely Deliver Warrant ADSs Upon Exercise. In addition to any other rights available to the Holder,
if the Company fails to cause the Depositary to deliver to the Holder the Warrant ADSs in accordance with the provisions of Section
2(d)(i) above pursuant to an exercise on or before the Warrant ADS Delivery Date, and if after such date the Holder is required
by its broker to purchase (in an open market transaction or otherwise) or the Holder’s brokerage firm otherwise purchases,
ADSs to deliver in satisfaction of a sale by the Holder of the Warrant ADSs which the Holder anticipated receiving upon such exercise
(a “Buy-In”), then the Company shall (A) pay in cash to the Holder the amount, if any, by which (x) the Holder’s
total purchase price (including brokerage commissions, if any) for the ADSs so purchased exceeds (y) the amount obtained by multiplying
(1) the number of Warrant ADSs that the Company was required to deliver to the Holder in connection with the exercise at issue
times (2) the price at which the sell order giving rise to such purchase obligation was executed, and (B) at the option of the
Holder, either reinstate the portion of the Warrant and equivalent number of Warrant ADSs for which such exercise was not honored
(in which case such exercise shall be deemed rescinded) or deliver to the Holder the number of ADSs that would have been issued
had the Company timely complied with its exercise and delivery obligations hereunder. For example, if the Holder purchases ADSs
having a total purchase price of $11,000 to cover a Buy-In with respect to an attempted exercise of ADSs with an aggregate sale
price giving rise to such purchase obligation of $10,000, under clause (A) of the immediately preceding sentence the Company shall
be required to pay the Holder $1,000. The Holder shall provide the Company written notice indicating the amounts payable to the
Holder in respect of the Buy-In and, upon request of the Company, evidence of the amount of such loss. Nothing herein shall limit
a Holder’s right to pursue any other remedies available to it hereunder, at law or in equity including, without limitation,
a decree of specific performance and/or injunctive relief with respect to the Company’s failure to timely deliver ADSs upon
exercise of the Warrant as required pursuant to the terms hereof.

 

v. No
Fractional Shares or Scrip. No fractional Warrant Shares or Warrant ADSs shall be issued upon the exercise of this Warrant.
As to any fraction of an ADS which the Holder would otherwise be entitled to purchase upon such exercise, the Company shall, at
its election, either pay a cash adjustment in respect of such final fraction in an amount equal to such fraction multiplied by
the Exercise Price or round up to the next whole ADS.

 

vi. Charges,
Taxes and Expenses. Issuance of Warrant ADSs shall be made without charge to the Holder for any issue or transfer tax or other
incidental expense in respect of the issuance of Warrant ADSs, all of which taxes and expenses shall be paid by the Company, and
such Warrant ADSs shall be issued in the name of the Holder or in such name or names as may be directed by the Holder; provided,
however, that in the event that Warrant ADSs are to be issued in a name other than the name of the Holder, this Warrant
when surrendered for exercise shall be accompanied by the Assignment Form attached hereto duly executed by the Holder and the Company
may require, as a condition thereto, the payment of a sum sufficient to reimburse it for any transfer tax incidental thereto. The
Company shall pay all Depositary fees required for same-day processing of any Notice of Exercise and all fees to the Depository
Trust Company (or another established clearing corporation performing similar functions) required for same-day electronic delivery
of the Warrant Shares.

 

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vii. Closing
of Books. The Company will not close its shareholder books or records in any manner which prevents the timely exercise of
this Warrant, pursuant to the terms hereof.

 

e) Holder’s
Exercise Limitations. Notwithstanding anything to the contrary contained herein, the Company shall not effect the exercise
of any portion of this Warrant, and the Holder shall not have the right to exercise any portion of this Warrant, pursuant to the
terms and conditions of this Warrant and any such exercise shall be null and void and treated if never made, to the extent that
after giving effect to such exercise, the Holder together with the other Attribution Parties collectively would beneficially own
in excess of 4.99% (the “Maximum Percentage”) of the number of Ordinary Shares outstanding immediately after
giving effect to such exercise. For purposes of the foregoing sentence, the aggregate number of Ordinary Shares beneficially owned
by the Holder and the other Attribution Parties shall include the number of Ordinary Shares underlying ADSs held by the Holder
and all other Attribution Parties plus the number of Ordinary Shares underlying ADSs issuable upon exercise of this Warrant with
respect to which the determination of such sentence is being made, but shall exclude the number of Ordinary Shares underlying ADSs
which would be issuable upon (A) exercise of the remaining, unexercised portion of this Warrant beneficially owned by the Holder
or any of the other Attribution Parties and (B) exercise or conversion of the unexercised or unconverted portion of any other securities
of the Company beneficially owned by the Holder or any other Attribution Party subject to a limitation on conversion or exercise
analogous to the limitation contained in this Section 3(e). For purposes of this Section 3(e), beneficial ownership shall be calculated
in accordance with Section 13(d) of the Exchange Act. For purposes of this Warrant, in determining the number of Ordinary Shares
underlying ADSs the Holder may acquire upon the exercise of this Warrant without exceeding the Maximum Percentage, the Holder may
rely on the number of Ordinary Shares as reflected in (x) the Company’s most recent Annual Report on Form 20-F, Current Report
on Form 6-K or other public filing with the Commission, as the case may be, (y) a more recent public announcement by the Company
or (3) any other written notice by the Company setting forth the number of Ordinary Shares outstanding (the “Reported
Outstanding Share Number”). If the Company receives an Exercise Notice from the Holder at a time when the actual number
of outstanding Ordinary Shares is less than the Reported Outstanding Share Number, the Company shall (i) notify the Holder in writing
of the number of Ordinary Shares then outstanding and, to the extent that such Exercise Notice would otherwise cause the Holder’s
beneficial ownership, as determined pursuant to this Section 2(e), to exceed the Maximum Percentage, the Holder must notify the
Company of a reduced number of Warrant ADSs to be purchased pursuant to such Exercise Notice (the number of shares by which such
purchase is reduced, the “Reduction Shares”) and (ii) as soon as reasonably practicable, the Company shall return
to the Holder any exercise price paid by the Holder for the Reduction Shares. For any reason at any time, upon the written or oral
request of the Holder, the Company shall within one (1) Business Day confirm orally and in writing or by electronic mail to the
Holder the number of Ordinary Shares then outstanding. In any case, the number of outstanding Ordinary Shares shall be determined
after giving effect to the conversion or exercise of securities of the Company, including this Warrant, by the Holder and any other
Attribution Party since the date as of which the Reported Outstanding Share Number was reported. In the event that the issuance
of Ordinary Shares to the Holder upon exercise of this Warrant results in the Holder and the other Attribution Parties being deemed
to beneficially own, in the aggregate, more than the Maximum Percentage of the number of outstanding Ordinary Shares (as determined
under Section 13(d) of the Exchange Act), the number of shares so issued by which the Holder’s and the other Attribution Parties’
aggregate beneficial ownership exceeds the Maximum Percentage (the “Excess Shares”) shall be deemed null and
void and shall be cancelled ab initio, and the Holder shall not have the power to vote or to transfer the Excess Shares. As soon
as reasonably practicable after the issuance of the Excess Shares has been deemed null and void, the Company shall return to the
Holder the exercise price paid by the Holder for the Excess Shares. Upon delivery of a written notice to the Company, the Holder
may from time to time increase (with such increase not effective until the sixty-first (61st) day after delivery of such notice)
or decrease the Maximum Percentage to any other percentage not in excess of 9.99% as specified in such notice; provided that (i)
any such increase in the Maximum Percentage will not be effective until the sixty-first (61st) day after such notice is delivered
to the Company and (ii) any such increase or decrease will apply only to the Holder and the other Attribution Parties and not to
any other holder of Warrants that is not an Attribution Party of the Holder. For purposes of clarity, the Ordinary Shares issuable
pursuant to the terms of this Warrant in excess of the Maximum Percentage shall not be deemed to be beneficially owned by the Holder
for any purpose including for purposes of Section 13(d) or Rule 16a-1(a)(1) of the Exchange Act. The provisions of this paragraph
shall be construed and implemented in a manner otherwise than in strict conformity with the terms of this Section 3(e) to the extent
necessary to correct this paragraph or any portion of this paragraph which may be defective or inconsistent with the intended beneficial
ownership limitation contained in this Section 2(e) or to make changes or supplements necessary or desirable to properly give effect
to such limitation. The limitation contained in this paragraph may not be waived and shall apply to a successor holder of this
Warrant. “Attribution Parties” means, collectively, the following Persons and entities: (i) any investment vehicle,
including, any funds, feeder funds or managed accounts, currently, or from time to time after the issuance date, directly or indirectly
managed or advised by the Holder’s investment manager or any of its Affiliates or principals, (ii) any direct or indirect Affiliates
of the Holder or any of the foregoing, (iii) any Person acting or who could be deemed to be acting as a group together with the
Holder or any of the foregoing and (iv) any other Persons whose beneficial ownership of the Company’s Ordinary Shares would or
could be aggregated with the Holder’s and the other Attribution Parties for purposes of Section 13(d) of the Exchange Act. For
clarity, the purpose of the foregoing is to subject collectively the Holder and all other Attribution Parties to the Maximum Percentage.

 

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Section 3. Certain
Adjustments.

 

a) Share
Dividends and Splits. If the Company, at any time while this Warrant is outstanding: (i) pays a share dividend or otherwise
makes a distribution or distributions on its Ordinary Shares or ADSs or any other equity or equity equivalent securities payable
in Ordinary Shares or ADSs (which, for avoidance of doubt, shall not include any ADSs issued by the Company upon exercise of this
Warrant), as applicable, (ii) subdivides outstanding Ordinary Shares or ADSs into a larger number of shares or ADSs, as applicable,
(iii) combines (including by way of reverse share split) outstanding Ordinary Shares or ADSs into a smaller number of shares or
ADSs, as applicable, or (iv) issues by reclassification of Ordinary Shares, ADSs or any shares of capital stock of the Company,
as applicable, then in each case the Exercise Price shall be multiplied by a fraction of which the numerator shall be the number
of ADSs (excluding treasury shares, if any) outstanding immediately before such event and of which the denominator shall be the
number of ADSs outstanding immediately after such event, and the number of shares issuable upon exercise of this Warrant shall
be proportionately adjusted such that the aggregate Exercise Price of this Warrant shall remain unchanged. Any adjustment made
pursuant to this Section 3(a) shall become effective immediately after the record date for the determination of shareholders entitled
to receive such dividend or distribution and shall become effective immediately after the effective date in the case of a subdivision,
combination or re-classification.

 

b) [RESERVED]

 

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c) Subsequent
Rights Offerings. In addition to any adjustments pursuant to Section 3(a) above, if at any time the Company grants, issues
or sells any Ordinary Share Equivalents or rights to purchase shares, warrants, securities or other property pro rata to the record
holders of any class of Ordinary Shares or ADSs (the “Purchase Rights”), then the Holder will be entitled to
acquire, upon the terms applicable to such Purchase Rights, the aggregate Purchase Rights which the Holder could have acquired
if the Holder had held the number of Ordinary Shares or ADSs acquirable upon complete exercise of this Warrant (without regard
to any limitations on exercise hereof, including without limitation, the Maximum Percentage) immediately before the date on which
a record is taken for the grant, issuance or sale of such Purchase Rights, or, if no such record is taken, the date as of which
the record holders of Ordinary Shares or ADSs are to be determined for the grant, issue or sale of such Purchase Rights (provided,
however, to the extent that the Holder’s right to participate in any such Purchase Right would result in the Holder exceeding
the Maximum Percentage, then the Holder shall not be entitled to participate in such Purchase Right to such extent (or beneficial
ownership of such ADSs as a result of such Purchase Right to such extent) and such Purchase Right to such extent shall be held
in abeyance for the Holder until such time, if ever, as its right thereto would not result in the Holder exceeding the Maximum
Percentage).

 

d) Pro
Rata Distributions. During such time as this Warrant is outstanding, if the Company shall declare or make any dividend or other
distribution of its assets (or rights to acquire its assets) to holders of Ordinary Shares or ADSs, by way of return of capital
or otherwise (including, without limitation, any distribution of cash, shares or other securities, property or options by way of
a dividend, spin off, reclassification, corporate rearrangement, scheme of arrangement or other similar transaction) (a “Distribution”),
at any time after the issuance of this Warrant, then, in each such case, the Holder shall be entitled to participate in such Distribution
to the same extent that the Holder would have participated therein if the Holder had held the number of Ordinary Shares or ADSs
acquirable upon complete exercise of this Warrant (without regard to any limitations on exercise hereof, including without limitation,
the Maximum Percentage) immediately before the date of which a record is taken for such Distribution, or, if no such record is
taken, the date as of which the record holders of Ordinary Shares or ADSs are to be determined for the participation in such Distribution
(provided, however, to the extent that the Holder’s right to participate in any such Distribution would result in
the Holder exceeding the Maximum Percentage, then the Holder shall not be entitled to participate in such Distribution to such
extent (or in the beneficial ownership of any Ordinary Shares or ADSs as a result of such Distribution to such extent) and the
portion of such Distribution shall be held in abeyance for the benefit of the Holder until such time, if ever, as its right thereto
would not result in the Holder exceeding the Maximum Percentage).

 

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e) Fundamental
Transactions. The Company shall not enter into or be party to a Fundamental Transaction (as defined below) unless the Successor
Entity (as defined below) assumes in writing all of the obligations of the Company under this Warrant and the other Transaction
Documents in accordance with the provisions of this Section 3(e) pursuant to written agreements, including agreements, if so requested
by the Holder, to deliver to each holder of the Warrants in exchange for such Warrants a security of the Successor Entity evidenced
by a written instrument substantially similar in form and substance to this Warrant, including, without limitation, an adjusted
exercise price equal to the value for the Ordinary Shares reflected by the terms of such Fundamental Transaction, and exercisable
for a corresponding number of shares of capital stock equivalent to the Ordinary Shares represented by ADSs acquirable and receivable
upon exercise of this Warrant (without regard to any limitations on the exercise of this Warrant) prior to such Fundamental Transaction,
and with an exercise price which applies the exercise price hereunder to such shares of capital stock (but taking into account
the relative value of the Ordinary Shares pursuant to such Fundamental Transaction and the value of such shares of capital stock,
such adjustments to the number of shares of capital stock and such exercise price being for the purpose of protecting the economic
value of this Warrant immediately prior to the consummation of such Fundamental Transaction). Any security issuable or potentially
issuable to the Holder pursuant to the terms of this Warrant on the consummation of a Fundamental Transaction shall be registered
and freely tradable by the Holder without any restriction or limitation or the requirement to be subject to any holding period
pursuant to any applicable securities laws if any securities issued to any other equityholder of the Company are registered on
Form F-4 or any successor form. Upon the occurrence or consummation of any Fundamental Transaction, and it shall be a required
condition to the occurrence or consummation of any Fundamental Transaction that, the Company and the Successor Entity or Successor
Entities, jointly and severally, shall succeed to, and the Company shall cause any Successor Entity or Successor Entities to jointly
and severally succeed to, and be added to the term “Company” under this Warrant (so that from and after the date of
such Fundamental Transaction, each and every provision of this Warrant referring to the “Company” shall refer instead
to each of the Company and the Successor Entity or Successor Entities, jointly and severally), and the Company and the Successor
Entity or Successor Entities, jointly and severally, may exercise every right and power of the Company prior thereto and shall
assume all of the obligations of the Company prior thereto under this Warrant with the same effect as if the Company and such Successor
Entity or Successor Entities, jointly and severally, had been named as the Company in this Warrant, and, solely at the request
of the Holder, if the Successor Entity and/or Successor Entities is a publicly traded corporation whose common stock is quoted
on or listed for trading on a Trading Market in the United States, shall deliver (in addition to and without limiting any right
under this Warrant) to the Holder in exchange for this Warrant a security of the Successor Entity and/or Successor Entities evidenced
by a written instrument substantially similar in form and substance to this Warrant and exercisable for a corresponding number
of shares of capital stock of the Successor Entity and/or Successor Entities (the “Successor Capital Stock”)
equivalent to the Ordinary Shares underlying the ADSs acquirable and receivable upon exercise of this Warrant (without regard to
any limitations on the exercise of this Warrant) prior to such Fundamental Transaction (such corresponding number of shares of
Successor Capital Stock to be delivered to the Holder shall be equal to the quotient of (i) the aggregate dollar value of all consideration
(including cash consideration and any consideration other than cash (“Non-Cash Consideration”), in such Fundamental
Transaction, as such values are set forth in any definitive agreement for the Fundamental Transaction that has been executed at
the time of the first public announcement of the Fundamental Transaction or, if no such value is determinable from such definitive
agreement, as determined in accordance with Section 5(a) with the term “Non-Cash Consideration” being substituted for
the term “Exercise Price”) that the Holder would have been entitled to receive upon the happening of such Fundamental
Transaction or the record, eligibility or other determination date for the event resulting in such Fundamental Transaction, had
this Warrant been exercised immediately prior to such Fundamental Transaction or the record, eligibility or other determination
date for the event resulting in such Fundamental Transaction (without regard to any limitations on the exercise of this Warrant)
divided by (ii) the per share closing sale price of such corresponding capital stock on the Trading Day immediately prior to the
consummation or occurrence of the Fundamental Transaction), and with an identical exercise price to the Exercise Price hereunder
(such adjustments to the number of shares of capital stock and such exercise price being for the purpose of protecting after the
consummation or occurrence of such Fundamental Transaction the economic value of this Warrant that was in effect immediately prior
to the consummation or occurrence of such Fundamental Transaction, as elected by the Holder solely at its option). Upon occurrence
or consummation of the Fundamental Transaction, and it shall be a required condition to the occurrence or consummation of such
Fundamental Transaction that, the Company and the Successor Entity or Successor Entities shall deliver to the Holder confirmation
that there shall be issued upon exercise of this Warrant at any time after the occurrence or consummation of the Fundamental Transaction,
as elected by the Holder solely at its option, ADSs, Successor Capital Stock or, in lieu of the ADSs or Successor Capital Stock
(or other securities, cash, assets or other property purchasable upon the exercise of this Warrant prior to such Fundamental Transaction),
such shares of stock, securities, cash, assets or any other property whatsoever (including warrants or other purchase or subscription
rights), which for purposes of clarification may continue to be ADSs, if any, that the Holder would have been entitled to receive
upon the happening of such Fundamental Transaction or the record, eligibility or other determination date for the event resulting
in such Fundamental Transaction, had this Warrant been exercised immediately prior to such Fundamental Transaction or the record,
eligibility or other determination date for the event resulting in such Fundamental Transaction (without regard to any limitations
on the exercise of this Warrant), as adjusted in accordance with the provisions of this Warrant.

 

    8

     

    

 

In addition to and not in substitution
for any other rights hereunder, prior to the occurrence or consummation of any Fundamental Transaction pursuant to which holders
Ordinary Shares or ADSs are entitled to receive securities, cash, assets or other property with respect to or in exchange for Ordinary
Shares or ADSs (a “Corporate Event”), the Company shall make appropriate provision to insure that, and any applicable
Successor Entity or Successor Entities shall ensure that, and it shall be a required condition to the occurrence or consummation
of such Corporate Event that, the Holder will thereafter have the right to receive upon exercise of this Warrant at any time after
the occurrence or consummation of the Corporate Event, ADSs or Successor Capital Stock or, if so elected by the Holder, in lieu
of ADSs (or other securities, cash, assets or other property) purchasable upon the exercise of this Warrant prior to such Corporate
Event (but not in lieu of such items still issuable under Sections 3(c) and 3(d), which shall continue to be receivable on the
ADSs or on the such shares of stock, securities, cash, assets or any other property otherwise receivable with respect to or in
exchange for ADSs), such shares of stock, securities, cash, assets or any other property whatsoever (including warrants or other
purchase or subscription rights and any Ordinary Shares) which the Holder would have been entitled to receive upon the occurrence
or consummation of such Corporate Event or the record, eligibility or other determination date for the event resulting in such
Corporate Event, had this Warrant been exercised immediately prior to such Corporate Event or the record, eligibility or other
determination date for the event resulting in such Corporate Event (without regard to any limitations on exercise of this Warrant).
The provisions of this Section 3(e) shall apply similarly and equally to successive Fundamental Transactions and Corporate Events.
“Fundamental Transaction” means (A) that the Company shall, directly or indirectly, including through subsidiaries,
Affiliates or otherwise, in one or more related transactions, (i) consolidate or merge with or into (whether or not the Company
is the surviving corporation) another Person, or (ii) sell, assign, transfer, convey or otherwise dispose of all or substantially
all of the properties or assets of the Company or any of its “significant subsidiaries” (as defined in Rule 1-02 of Regulation
S-X) to one or more Persons, or (iii) make, or allow one or more Persons to make, or allow the Company to be subject to or have
its Ordinary Shares be subject to or party to one or more persons making, a purchase, tender or exchange offer that is accepted
by the holders of at least either (x) 50% of the outstanding Ordinary Shares, (y) 50% of the outstanding Ordinary Shares calculated
as if any Ordinary Shares held by all Persons making or party to, or Affiliated with any Persons making or party to, such purchase,
tender or exchange offer were not outstanding; or (z) such number of Ordinary Shares such that all Persons making or party to,
or Affiliated with any Person making or party to, such purchase, tender or exchange offer, become collectively the beneficial owners
(as defined in Rule 13d-3 under the Exchange Act) of at least 50% of the outstanding Ordinary Shares, or (iv) consummate a securities
purchase agreement or other business combination (including, without limitation, a reorganization, recapitalization, spin-off or
scheme of arrangement) with one or more Persons whereby all such Persons, individually or in the aggregate, acquire, either (x)
at least 50% of the outstanding Ordinary Shares, (y) at least 50% of the outstanding Ordinary Shares calculated as if any Ordinary
Shares held by all the Persons making or party to, or Affiliated with any Person making or party to, such securities purchase agreement
or other business combination were not outstanding; or (z) such number of Ordinary Shares such that the Persons become collectively
the beneficial owners (as defined in Rule 13d-3 under the Exchange Act) of at least 50% of the outstanding Ordinary Shares, or
(v) reorganize, recapitalize or reclassify its Ordinary Shares such that such modified Ordinary Shares no longer have the residual
right to dividends or distributions from the Company or the residual right to vote on matters given to the common shareholders
under Israeli law, (B) that the Company shall, directly or indirectly, including through subsidiaries, Affiliates or otherwise,
in one or more related transactions, allow any Person individually or the Persons in the aggregate to be or become the “beneficial
owner” (as defined in Rule 13d-3 under the Exchange Act), directly or indirectly, whether through acquisition, purchase, assignment,
conveyance, tender, tender offer, exchange, reduction in outstanding Ordinary Shares, merger, consolidation, business combination,
reorganization, recapitalization, spin-off, scheme of arrangement, reorganization, recapitalization or reclassification or otherwise
in any manner whatsoever, of either (x) at least 50% of the aggregate ordinary voting power represented by issued and outstanding
Ordinary Shares, (y) at least 50% of the aggregate ordinary voting power represented by issued and outstanding Ordinary Shares
not held by all such Persons as of the date of this Warrant calculated as if any Ordinary Shares held by all such Persons were
not outstanding, or (z) a percentage of the aggregate ordinary voting power represented by issued and outstanding Ordinary Shares
or other equity securities of the Company sufficient to allow such Persons to effect a statutory short form merger or other transaction
requiring other shareholders of the Company to surrender their Ordinary Shares without approval of the shareholders of the Company
or (C) directly or indirectly, including through subsidiaries, Affiliates or otherwise, in one or more related transactions, the
issuance of or the entering into any other instrument or transaction structured in a manner to circumvent, or that circumvents,
the intent of this definition in which case this definition shall be construed and implemented in a manner otherwise than in strict
conformity with the terms of this definition to the extent necessary to correct this definition or any portion of this definition
which may be defective or inconsistent with the intended treatment of such instrument or transaction. Notwithstanding anything
contained herein, any transaction which results in a Company subsidiary that is not wholly-owned by the Company becoming a wholly-owned
subsidiary of the Company shall not be considered a “Fundamental Transaction” and shall not otherwise trigger any adjustment
or rights under this Warrant. “Successor Entity” means one or more Person or Persons (or, if so elected by the
Holder, the Company or Parent Entity (as defined below)) formed by, resulting from or surviving any Fundamental Transaction or
one or more Person or Persons (or, if so elected by the Holder, the Company or the Parent Entity) with which such Fundamental Transaction
shall have been entered into. “Parent Entity” of a Person means an entity that, directly or indirectly, controls
the applicable Person, including such entity whose common stock or equivalent equity security is quoted or listed on a Trading
Market, or, if there is more than one such Person or such entity, such Person or entity with the largest public market capitalization
as of the date of consummation of the Fundamental Transaction.

 

    9

     

    

 

f) Calculations.
All calculations under this Section 3 shall be made to the nearest cent or the nearest 1/100th of an ADS, as the case may be. For
purposes of this Section 3, the number of Ordinary Shares deemed to be issued and outstanding as of a given date shall be the sum
of the number of Ordinary Shares (excluding treasury shares, if any) issued and outstanding.

 

g) Notice
to Holder.

 

i. Adjustment
to Exercise Price. Whenever the Exercise Price is adjusted pursuant to any provision of this Section 3, the Company shall promptly
mail to the Holder a notice setting forth the Exercise Price after such adjustment and any resulting adjustment to the number of
Warrant ADSs and setting forth a brief statement of the facts requiring such adjustment.

 

ii. Notice
to Allow Exercise by Holder. If (A) the Company shall declare a dividend (or any other distribution in whatever form) on the
Ordinary Shares, (B) the Company shall declare a special nonrecurring cash dividend on or a redemption of the Ordinary Shares or
ADSs, (C) the Company shall authorize the granting to all holders of the Ordinary Shares or ADSs rights or warrants to subscribe
for or purchase any shares of capital stock of any class or of any rights, (D) the approval of any shareholders of the Company
shall be required in connection with any reclassification of the Ordinary Shares or ADSs, any consolidation or merger to which
the Company is a party, any sale or transfer of all or substantially all of the assets of the Company, or any compulsory share
exchange whereby the Ordinary Shares are converted into other securities, cash or property, or (E) the Company shall authorize
the voluntary or involuntary dissolution, liquidation or winding up of the affairs of the Company, then, in each case, the Company
shall cause to be mailed to the Holder at its last address as it shall appear upon the Warrant Register of the Company, at least
20 calendar days prior to the applicable record or effective date hereinafter specified, a notice stating (x) the date on which
a record is to be taken for the purpose of such dividend, distribution, redemption, rights or warrants, or if a record is not to
be taken, the date as of which the holders of the Ordinary Shares or ADSs of record to be entitled to such dividend, distributions,
redemption, rights or warrants are to be determined or (y) the date on which such reclassification, consolidation, merger, sale,
transfer or share exchange is expected to become effective or close, and the date as of which it is expected that holders of the
Ordinary Shares of record shall be entitled to exchange their Ordinary Shares for securities, cash or other property deliverable
upon such reclassification, consolidation, merger, sale, transfer or share exchange; provided that the failure to mail such notice
or any defect therein or in the mailing thereof shall not affect the validity of the corporate action required to be specified
in such notice. To the extent that any notice provided in this Warrant constitutes, or contains, material, non-public information
regarding the Company or any of the Subsidiaries, the Company shall simultaneously file such notice with the Commission pursuant
to a Report on Form 6-K. The Holder shall remain entitled to exercise this Warrant during the period commencing on the date of
such notice to the effective date of the event triggering such notice except as may otherwise be expressly set forth herein.

 

    10

     

    

 

Section 4. Transfer
of Warrant.

 

a) Transferability.
Subject to compliance with any applicable securities laws and the conditions set forth in Section 4(d) hereof and to the provisions
of Section 4.1 of the Purchase Agreement, this Warrant and all rights hereunder are transferable, in whole or in part, upon surrender
of this Warrant at the principal office of the Company or its designated agent, together with a written assignment of this Warrant
substantially in the form attached hereto duly executed by the Holder or its agent or attorney and funds sufficient to pay any
transfer taxes payable upon the making of such transfer. Upon such surrender and, if required, such payment, the Company shall
execute and deliver a new Warrant or Warrants in the name of the assignee or assignees, as applicable, and in the denomination
or denominations specified in such instrument of assignment, and shall issue to the assignor a new Warrant evidencing the portion
of this Warrant not so assigned, and this Warrant shall promptly be cancelled. Notwithstanding anything herein to the contrary,
the Holder shall not be required to physically surrender this Warrant to the Company unless the Holder has assigned this Warrant
in full, in which case, the Holder shall surrender this Warrant to the Company within three (3) Trading Days of the date the Holder
delivers an assignment form to the Company assigning this Warrant in full. The Warrant, if properly assigned in accordance herewith,
may be exercised by a new holder for the purchase of Warrant ADSs without having a new Warrant issued.

 

b) New
Warrants. This Warrant may be divided or combined with other Warrants upon presentation hereof at the aforesaid office of the
Company, together with a written notice specifying the names and denominations in which new Warrants are to be issued, signed by
the Holder or its agent or attorney. Subject to compliance with Section 4(a), as to any transfer which may be involved in such
division or combination, the Company shall execute and deliver a new Warrant or Warrants in exchange for the Warrant or Warrants
to be divided or combined in accordance with such notice. All Warrants issued on transfers or exchanges shall be dated the Issue
Date and shall be identical with this Warrant except as to the number of Warrant ADSs issuable pursuant thereto.

 

c) Warrant
Register. The Company shall register this Warrant, upon records to be maintained by the Company for that purpose (the “Warrant
Register”), in the name of the record Holder hereof from time to time. The Company may deem and treat the registered
Holder of this Warrant as the absolute owner hereof for the purpose of any exercise hereof or any distribution to the Holder, and
for all other purposes, absent actual notice to the contrary.

 

d) Transfer
Restrictions. If, at the time of the surrender of this Warrant in connection with any transfer of this Warrant, the transfer
of this Warrant shall not be either (i) registered pursuant to an effective registration statement under the Securities Act and
under applicable state securities or blue sky laws or (ii) eligible for resale without volume or manner-of-sale restrictions or
current public information requirements pursuant to Rule 144, the Company may require, as a condition of allowing such transfer,
that the Holder or transferee of this Warrant, as the case may be, comply with the provisions of the Purchase Agreement, including
Section 4.13 thereof.

 

e) Representation
by the Holder. The Holder, by the acceptance hereof, represents and warrants that it is acquiring this Warrant and, upon any
exercise hereof, will acquire the Warrant ADSs issuable upon such exercise, for its own account and not with a view to or for distributing
or reselling such Warrant ADSs or any part thereof in violation of the Securities Act or any applicable state securities law, except
pursuant to sales registered or exempted under the Securities Act.

 

Section 5. Miscellaneous.

 

a) [RESERVED]

 

b) No
Rights as Shareholder Until Exercise. This Warrant does not entitle the Holder to any voting rights, dividends or other rights
as a shareholder of the Company prior to the exercise hereof as set forth in Section 2(d)(i), except as expressly set forth in
Section 3.

 

    11

     

    

 

c) Loss,
Theft, Destruction or Mutilation of Warrant. The Company covenants that upon receipt by the Company of evidence reasonably
satisfactory to it of the loss, theft, destruction or mutilation of this Warrant or any stock certificate relating to the Warrant
ADSs, and in case of loss, theft or destruction, of indemnity or security reasonably satisfactory to it (which, in the case of
the Warrant, shall not include the posting of any bond), and upon surrender and cancellation of such Warrant or stock certificate,
if mutilated, the Company will make and deliver a new Warrant or stock certificate of like tenor and dated as of such cancellation,
in lieu of such Warrant or stock certificate.

 

d) Saturdays,
Sundays, Holidays, etc. If the last or appointed day for the taking of any action or the expiration of any right required or
granted herein shall not be a Business Day, then, such action may be taken or such right may be exercised on the next succeeding
Business Day.

 

e) Authorized
Shares.

 

The Company
covenants that, during the period the Warrant is outstanding, it will reserve from its authorized and unissued Ordinary Shares
and a sufficient number of shares to provide for the issuance of the Warrant ADSs and underlying Ordinary Shares upon the exercise
of any purchase rights under this Warrant. The Company further covenants that its issuance of this Warrant shall constitute full
authority to its officers who are charged with the duty of issuing the necessary Warrant Shares upon the exercise of the purchase
rights under this Warrant. The Company will take all such reasonable action as may be necessary to assure that such Warrant ADSs
may be issued as provided herein without violation of any applicable law or regulation, or of any requirements of the applicable
Trading Market upon which the Ordinary Shares and ADSs may be listed. The Company covenants that all Warrant Shares which may be
issued upon the exercise of the purchase rights represented by this Warrant will, upon exercise of the purchase rights represented
by this Warrant and payment for such Warrant ADSs in accordance herewith, be duly authorized, validly issued, fully paid and nonassessable
and free from all taxes, liens and charges created by the Company in respect of the issue thereof (other than taxes in respect
of any transfer occurring contemporaneously with such issue).

 

Except and
to the extent as waived or consented to by the Holder, the Company shall not by any action, including, without limitation, amending
its certificate of incorporation or through any reorganization, transfer of assets, consolidation, merger, dissolution, issue or
sale of securities or any other voluntary action, avoid or seek to avoid the observance or performance of any of the terms of this
Warrant, but will at all times in good faith assist in the carrying out of all such terms and in the taking of all such actions
as may be necessary or appropriate to protect the rights of Holder as set forth in this Warrant against impairment. Without limiting
the generality of the foregoing, the Company will (i) not increase the par value of any Warrant Shares above the amount payable
therefor upon such exercise immediately prior to such increase in par value, (ii) take all such action as may be necessary or appropriate
in order that the Company may validly and legally issue fully paid and nonassessable Warrant Shares upon the exercise of this Warrant
and (iii) use commercially reasonable efforts to obtain all such authorizations, exemptions or consents from any public regulatory
body having jurisdiction thereof, as may be, necessary to enable the Company to perform its obligations under this Warrant.

 

Before taking
any action which would result in an adjustment in the number of Warrant ADSs for which this Warrant is exercisable or in the Exercise
Price, the Company shall obtain all such authorizations or exemptions thereof, or consents thereto, as may be necessary from any
public regulatory body or bodies having jurisdiction thereof.

 

f) Jurisdiction.
All questions concerning the construction, validity, enforcement and interpretation of this Warrant shall be determined in accordance
with the provisions of the Purchase Agreement.

 

g) Restrictions.
The Holder acknowledges that the Warrant Shares and Warrant ADSs acquired upon the exercise of this Warrant, if not registered
and the Holder does not utilize cashless exercise, will have restrictions upon resale imposed by state and federal securities laws.

 

    12

     

    

 

h) Nonwaiver
and Expenses. No course of dealing or any delay or failure to exercise any right hereunder on the part of Holder shall operate
as a waiver of such right or otherwise prejudice the Holder’s rights, powers or remedies, notwithstanding the fact that all
rights hereunder terminate on the Termination Date. If the Company willfully and knowingly fails to comply with any provision of
this Warrant, which results in any material damages to the Holder, the Company shall pay to the Holder such amounts as shall be
sufficient to cover any costs and expenses including, but not limited to, reasonable attorneys’ fees, including those of
appellate proceedings, incurred by the Holder in collecting any amounts due pursuant hereto or in otherwise enforcing any of its
rights, powers or remedies hereunder.

 

i) Notices.
Any notice, request or other document required or permitted to be given or delivered to the Holder by the Company shall be delivered
in accordance with the notice provisions of the Purchase Agreement.

 

j) Limitation
of Liability. No provision hereof, in the absence of any affirmative action by the Holder to exercise this Warrant to purchase
Warrant ADSs, and no enumeration herein of the rights or privileges of the Holder, shall give rise to any liability of the Holder
for the purchase price of any Ordinary Shares or ADSs or as a shareholder of the Company, whether such liability is asserted by
the Company or by creditors of the Company.

 

k) Remedies.
The Holder, in addition to being entitled to exercise all rights granted by law, including recovery of damages, will be entitled
to specific performance of its rights under this Warrant. The Company agrees that monetary damages would not be adequate compensation
for any loss incurred by reason of a breach by it of the provisions of this Warrant and hereby agrees to waive and not to assert
the defense in any action for specific performance that a remedy at law would be adequate.

 

l) Successors
and Assigns. Subject to applicable securities laws, this Warrant and the rights and obligations evidenced hereby shall inure
to the benefit of and be binding upon the successors and permitted assigns of the Company and the successors and permitted assigns
of Holder. The provisions of this Warrant are intended to be for the benefit of any Holder from time to time of this Warrant and
shall be enforceable by the Holder or holder of Warrant ADSs.

 

m) Amendment.
This Warrant may be modified or amended or the provisions hereof waived with the written consent of the Company and the Holder.

 

n) Severability.
Wherever possible, each provision of this Warrant shall be interpreted in such manner as to be effective and valid under applicable
law, but if any provision of this Warrant shall be prohibited by or invalid under applicable law, such provision shall be ineffective
to the extent of such prohibition or invalidity, without invalidating the remainder of such provisions or the remaining provisions
of this Warrant.

 

o) Headings.
The headings used in this Warrant are for the convenience of reference only and shall not, for any purpose, be deemed a part of
this Warrant.

 

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

 

(Signature Page Follows)

 

    13

     

    

 

IN WITNESS WHEREOF, the
Company has caused this Warrant to be executed by its officer thereunto duly authorized as of the date first above indicated.

 

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

 

    14

     

    

 

NOTICE OF EXERCISE

 

 

		To:	CAN-FITE
BIOPHARMA LTD.

The
Bank of New York Mellon

 

(1) The undersigned hereby
elects to purchase ________ Warrant ADSs of the Company pursuant to the terms of the attached Warrant (only if exercised in full),
and tenders herewith payment of the exercise price in full, together with all applicable transfer taxes, if any.

 

(2) Payment shall take
the form of (check applicable box):

 

☐ in lawful money of
the United States; or

 

☐ if permitted the
cancellation of such number of Warrant ADSs as is necessary, in accordance with the formula set forth in subsection 2(c), to
exercise this Warrant with respect to the maximum number of Warrant ADSs purchasable pursuant to the cashless exercise
procedure set forth in subsection 2(c).

 

(3) Please register and
issue said Warrant ADSs in the name of the undersigned or in such other name as is specified below:

 

DTC Participant name and number:
________________________

Contact of DTC Participant: _______________________

Telephone Number of Participant
Contact: _____________________

 

(4) Accredited Investor.
If the Warrant is being exercised via cash exercise, the undersigned is an “accredited investor” as defined in Regulation
D promulgated under the Securities Act of 1933, as amended.

 

[SIGNATURE
OF HOLDER]

 

Name of Investing Entity: ________________________________________________________________________

Signature of Authorized Signatory of
Investing Entity: _________________________________________________

Name of Authorized Signatory: ___________________________________________________________________

Title of Authorized Signatory: ____________________________________________________________________

Date: ________________________________________________________________________________________

 

    15

     

    

 

EXHIBIT B

 

ASSIGNMENT FORM

 

(To assign the
foregoing Warrant, execute this form and supply required information. Do not use this form to purchase Warrant ADSs.)

 

FOR VALUE RECEIVED,
the foregoing Warrant and all rights evidenced thereby are hereby assigned to

 

	Name:	 	 
	 	 	(Please Print)
	 	 	 
	Address:	 	 
	 	 	(Please Print)
	 	 	 
	Dated: _______________ __, ______	 	 
	 	 	 
	Holder’s Signature: _________________	 	 
	 	 	 
	Holder’s Address: __________________	 	 

 

 

16Exhibit
10.1

AMENDED AND RESTATED EMPLOYMENT
AGREEMENT

This Amended and Restated Employment
Agreement (this “Agreement”), dated as of March 31, 2019 (the “Effective Date”),
by and between Command Center, Inc., a Washington corporation (the “Company”), and Richard
K. Coleman, Jr., an individual (“Executive”).

WHEREAS, the Company is currently employing
Executive as President and Chief Executive Officer pursuant to the terms of the Employment Agreement, effective as of April 1,
2018, between the Company and Executive (the “2018 Employment Agreement”);

 

WHEREAS, the Company desires to
retain Executive as its President and Chief Executive Officer; and

WHEREAS, it is the intention of
the Company and the Executive to amend and restate the 2018 Agreement in its entirety as set forth herein and the 2018 Agreement
shall be deemed to be terminated and of no further force or effect;

WHEREAS, in connection therewith,
the Company and Executive desire to enter into this Agreement.

PART ONE – DEFINITIONS

Definitions. For purposes of this
Agreement, the following definitions will be in effect:

“Affiliates”
means all persons and entities directly or indirectly controlling, controlled by or under common control with the entity specified,
where control may be by management authority, contract or equity interest.

“Board” means
the Board of Directors of the Company or the Compensation Committee thereof (or any other committee subsequently granted authority
by the Board), subject to Section 14 below.

    	1

     

    

“Change of Control”
means a change in the ownership or control of the Company effected through any of the following transactions: (i) a merger, consolidation
or reorganization approved by the Company’s stockholders, unless securities representing more than fifty percent (50%) of
the total combined voting power of the voting securities of the successor corporation are immediately thereafter beneficially owned,
directly or indirectly and in substantially the same proportion, by the persons who beneficially owned the Company’s outstanding
voting securities immediately prior to such transaction, (ii) any stockholder-approved sale, transfer or other disposition of all
or substantially all of the Company’s assets, or (iii) the acquisition, directly or indirectly, by any person or related
group of persons (other than the Company or a person that directly or indirectly controls, is controlled by or is under common
control with, the Company) of beneficial ownership (within the meaning of Rule 13d-3 of the Securities Exchange Act of 1934, as
amended (the “Exchange Act”)) of securities possessing more than fifty percent (50%) of the total combined
voting power of the Company’s outstanding securities pursuant to a tender or exchange offer made directly to the Company’s
stockholders. Notwithstanding the foregoing, however, in any circumstance or transaction in which compensation payable pursuant
to this Agreement would be subject to the tax under Section 409A of the Code if the foregoing definition of “Change of Control”
were to apply, but would not be so subject if the term “Change of Control” were defined herein to mean a “change
in control event” within the meaning of Treasury Regulation § 1.409A-3(i)(5), then “Change of Control” means,
but only to the extent necessary to prevent such compensation from becoming subject to the tax under Section 409A of the Code,
a transaction or circumstance that satisfies the requirements of both (1) a Change of Control under the applicable clauses (i)
through (iii) above, and (2) a “change in control event” within the meaning of Treasury Regulation Section § 1.409A-3(i)(5).

“Code” means
the Internal Revenue Code of 1986, as amended from time to time, and the Treasury regulations and administrative guidance promulgated
thereunder.

“Company” means,
unless the context otherwise requires, Command Center, Inc., a Washington corporation, and all of its subsidiaries.

“Compensation Committee”
means the Compensation Committee of the Board.

“Employment Period”
means the period beginning on April 1, 2018 and ending on September 30, 2019.

“Good Reason”
shall mean the occurrence of any of the following without Executive’s consent: (i) a material reduction of Executive’s
duties or responsibilities, relative to Executive’s duties or responsibilities as in effect immediately prior to such reduction;
(ii) a reduction of more than ten percent (10%) in Executive’s Base Salary as in effect immediately prior to such reduction;
(iii) a reduction of more than ten percent (10%) by the Company in the kind or level of employee benefits, including bonuses, for
which Executive was eligible (although amounts actually earned will vary) immediately prior to such reduction, with the result
that Executive’s overall benefits package is materially reduced, excluding any equity component thereof; (iv) the relocation
of Executive to a facility or a location more than twenty-five (25) miles from the Company’s present location in Lakewood,
Colorado; provided, however, than a reduction that is generally applicable to all executives of the Company shall not constitute
 “Good Reason” under clauses (ii) and (iii) hereof. A termination of employment by Executive shall not be deemed to
be for Good Reason unless (A) Executive gives the Company written notice describing the event or events which are the basis for
such termination within 60 days after the event or events occur, (B) such grounds for termination (if susceptible to correction)
are not corrected by the Company within 30 days of the Company’s receipt of such notice (the “Correction Period”),
and (C) Executive terminates Executive’s employment no later than 30 days following the Correction Period.

    	2

     

    

“Termination for Cause”
shall mean the Company’s termination of Executive’s employment for any of the following reasons: (i) Executive’s
commission of any act of fraud, embezzlement or dishonesty, (ii) the arrest or conviction of Executive, or the entry of a plea
of nolo contendere by Executive, for a felony; (iii) Executive’s unauthorized use or disclosure of any confidential information
or trade secrets of the Company, (iv) the disclosing or using of any material Confidential Information (as hereinafter defined)
of Company at any time by Executive, except as required in connection with his duties to Company, (v) Executive’s violation
of a published Company policy which stipulates the Executive may be terminated by the Company for cause; or (vi) Executive’s
continued failure, in the reasonable good faith determination of the Board (excluding Executive therefrom), to perform the major
duties, functions and responsibilities of Executive’s position after written notice from the Company identifying the deficiencies
in Executive’s performance and a reasonable cure period of not less than thirty (30) days.

PART TWO - TERMS AND CONDITIONS
OF EMPLOYMENT

The following terms and conditions will
govern Executive’s employment with the Company throughout the Employment Period and will also, to the extent expressly indicated
below, remain in effect following Executive’s cessation of employment with the Company.

1.       Employment
and Duties. During the Employment Period, Executive will serve as the President and Chief Executive Officer of Command Center,
Inc. and will report to the Board. Executive will have such duties and responsibilities as are commensurate with such position
and such other duties and responsibilities commensurate with such position (including with the Company’s subsidiaries) as
are from time to time assigned to Executive by the Board (or a committee thereof). During the Employment Period, Executive will
devote his full business time, energy and skill to the performance of his duties and responsibilities hereunder, provided the foregoing
will not prevent Executive from (a) serving as a non-executive director on the board of directors of non-profit organizations and
other companies, (b) participating in charitable, civic, educational, professional, community or industry affairs, (c) managing
his and his family’s personal investments, including in an advisory capacity related to current or potential investments
or (d) such other activities approved by the Board from time to time; provided, that such activities individually or in the aggregate
do not interfere or conflict with Executive’s duties and responsibilities hereunder, violate applicable law, or create a
potential business or fiduciary conflict.

2.       Service
as Director. Executive shall continue to serve on Company’s Board of Directors. For as long as Executive shall continue
to serve as President and Chief Executive Officer, he shall stand for re-election to such position at each annual meeting of the
Company’s stockholders. Executive’s failure to be re-elected to the Board, in and of itself, shall not constitute a
termination of this Agreement (and shall not constitute a Termination for Cause or a resignation by Executive for Good Reason,
each as defined in this Agreement), nor shall it entitle Executive to any severance benefits. Pursuant to the Company’s policies,
for the duration of this Agreement, Executive will fulfill his duties as a director without additional compensation. This Agreement
shall not in any way be construed or interpreted so as to affect adversely or otherwise impair the right of the Company or the
stockholders to remove the Executive from the Board at any time in accordance with the provisions of applicable law.

    	3

     

    

3.       Term.
The term of this Agreement shall run for a period from the Effective Date through September 30, 2019 (such period, the “Term”),
and may be terminated earlier as contemplated by Section 8.A. Termination of this Agreement due to its non-renewal shall not constitute
a Termination for Cause or a resignation by Executive for Good Reason.

4.       Compensation;
Additional Incentives.

A.       Base
Salary. Executive’s base salary (the “Base Salary”) will be paid at the rate of $27,083.33
monthly ($325,000 annualized) during the Term. Executive’s Base Salary may be increased by the Compensation Committee and/or
Board in their sole discretion, but shall not be decreased without Executive’s consent. Executive’s Base Salary will
be paid at periodic intervals in accordance with the Company’s normal payroll practices for salaried employees.

B.       Bonus
Opportunities.

a.       Executive
will be eligible for a bonus payment (a “Change of Control Bonus”) if a Change of Control occurs. If
Change of Control occurs (i) during the Term, (ii) within three months following the expiration of the Term, or (iii) between three
and six months following the expiration of the Term, but only if the transaction involves parties with whom the Company signed
a letter of intent during the Term regarding a Change of Control, Executive will receive a Change of Control Bonus payment of $200,000
payable within fifteen days of the Change of Control. Such amount will be offset by any Performance Bonus received by Executive
under paragraph (c) below.

b.       
Executive will be eligible for a bonus payment (a “Performance Bonus”) tied to the Company’s Fiscal
Year 2019 Earnings. Subject to final approval by the Compensation Committee, Executive will receive a Performance Bonus if the
Company’s quarterly Adjusted EBITDA exceeds the quarterly target as established by the Compensation Committee (the “Quarterly
Target”) . For any quarter in which Adjusted EBITDA exceeds the Quarterly Target, Executive shall receive 7.5% of
the amount in excess of the Quarterly Target. If Executive is not employed by the Company at the time the results are calculated
for payment, he will be paid a pro-rated Performance Bonus based on the last date of his employment. Payments pursuant to this
paragraph will be made no later than 30 days following the filing of the Form 10-Q or 10-K. Upon a Change of Control, no further
Performance Bonus shall be paid. If Change of Control occurs prior to the end of a quarterly period, Executive and the Compensation
Committee will negotiate in good faith to determine the Performance Bonus for the then current period and to set realistic bonus
targets for the remainder of the Term. The Company will calculate the performance under this metric as it has traditionally done
for other executives, subject, in all cases, to final approval by the Compensation Committee or the Board.

    	4

     

    

c.       Executive
will be eligible for a Performance Bonus tied to the Company’s Fiscal Year 2018 Earnings. The Company’s Executive Team
will share 15% of the Company’s fiscal year Adjusted EBITDA for 2018 that exceeds $3 Million. The Company will calculate
the performance under this metric as it has traditionally done for other executives. Executive will receive 50% of this amount
and will recommend the appropriate distribution of the remaining 50% for final approval by the Compensation Committee or Board.
If Executive is not employed by the Company at the time the results are calculated for payment, he will be paid a pro-rated amount
based on the last date of his employment. Payments pursuant to this paragraph will be made no later than 30 days following the
completion of the Company’s audited financial results and filing of the Company’s annual report for fiscal year 2018
within the time extension period. For the avoidance of doubt, this paragraph supersedes and replaces the identical Performance
Bonus paragraph in the 2018 Agreement, such that Executive is only entitled to payments for this Performance Bonus pursuant to
this paragraph.

C.       The
Company may deduct and withhold, from the compensation payable and benefits provided to Executive hereunder, any and all applicable
federal, state, local and other taxes and any other amounts required to be deducted or withheld by the Company under applicable
statute or regulation.

D.       To
the extent that any compensation paid or payable pursuant to this Agreement is considered “incentive-based compensation”
within the meaning and subject to the requirements of Section 10D of the Exchange Act, such compensation shall be subject to potential
forfeiture or recovery by the Company in accordance with any compensation recovery policy adopted by the Board or any committee
thereof in response to the requirements of Section 10D of the Exchange Act and any implementing rules and regulations thereunder
adopted by the Securities and Exchange Commission or any national securities exchange on which the Company’s common stock
is then listed. This Agreement may be unilaterally amended by the Company to comply with any such compensation recovery policy.

5.       Equity
Compensation.

A.       Executive’s
April 1, 2018 Incentive Stock Option (ISO) grant will continue to vest in accordance with the terms of the 2018 Employment Agreement.
All of Executive’s unvested Options shall vest (i) in full upon the consummation of a Change of Control and (ii) pursuant
to the terms of Section 8 and shall be exercisable pursuant to the terms of the Company’s Stock Plan. The Options shall expire
on, and shall not be exercisable after, a date that is not later than the tenth anniversary of the date of grant (the “Final
Exercise Date”).

B.       Executive
will be eligible for additional option grants as determined by the Board or the Compensation Committee in their sole discretion.

6.       Expense
Reimbursement; Fringe Benefits; Paid Time Off (PTO).

A.       Executive
will be entitled to reimbursement from the Company for customary, ordinary and necessary business expenses incurred by Executive
in the performance of Executive’s duties hereunder, provided that Executive’s entitlement to such reimbursements shall
be conditioned upon Executive’s provision to the Company of vouchers, receipts and other substantiation of such expenses
in accordance with Company policies.

B.       Company
will pay for dues and fees required for any professional licenses maintained by Executive, membership in professional or industry
associations, continuing education requirements associated with any professional license and conferences and seminars commonly
attended by executives in similar companies.

    	5

     

    

C.       During
the Employment Period, Executive will be eligible to participate in any group life insurance plan, group medical and/or dental
insurance plan, accidental death and dismemberment plan, short-term disability program and other employee benefit plans, including
profit sharing plans, cafeteria benefit programs and stock purchase and option plans, which are made available to executives of
the Company and for which Executive qualifies under the terms of such plan or plans.

D.       Executive
shall be entitled to four weeks paid vacation each year and paid time off (PTO) in accordance with the Company’s policies
as in effect from time to time

7.       Executive
Covenants.

A.       Transition
and Other Assistance. During the 30 days following the termination of the Employment Period, Executive will take all actions
the Company may reasonably request to maintain the Company’s business, goodwill and business relationships and to assist
with transition matters, all at Company expense. In addition, upon the receipt of notice from the Company (including outside counsel),
during the Employment Period and thereafter, Executive will respond and provide information with regard to matters in which he
has knowledge as a result of his employment with the Company, and will provide assistance to the Company and its representatives
in the defense or prosecution of any claims that may be made by or against the Company, to the extent that such claims may relate
to the period of Executive’s employment with the Company, all at Company expense. During the Employment Period and thereafter,
Executive shall promptly inform the Company if he becomes aware of any lawsuits involving such claims that may be filed or threatened
against the Company. During the Employment Period and thereafter, Executive shall also promptly inform the Company (to the extent
he is legally permitted to do so) if he is asked to assist in any investigation of the Company (or its actions), regardless of
whether a lawsuit or other proceeding has then been filed against the Company with respect to such investigation, and will not
do so unless legally required. The Company will pay Executive at a rate of $350 per hour, plus reasonable expenses, in connection
with any actions requested by the Company under this paragraph following any termination of Executive’s employment, with
such amounts being paid to Executive at periodic intervals in accordance with the Company’s normal payroll practices for
salaried employees. Executive’s obligations under this paragraph shall be subject to the Company’s reasonable cooperation
in scheduling in light of Executive’s other obligations.

B.       Survival
of Provisions. The obligations contained in this Section 7 will survive the termination of Executive’s employment with
the Company and will be fully enforceable thereafter.

8.       Termination
of Employment.

A.       General.
Subject to Section 8.D, Executive’s employment with the Company is “at-will” and may be terminated at any time
by either Executive or the Company for any reason (or no reason) in accordance with this Agreement, which will also result in the
Term ending, by the party seeking to terminate Executive’s employment providing 60-days written notice of such termination
to the other party.

    	6

     

    

B.       Death
and Permanent Disability. Upon termination of Executive’s employment with the Company due to death or permanent disability
during the Term, the employment relationship created pursuant to this Agreement will immediately terminate, the Term will end and
amounts will only be payable under this Agreement as specified in this Section 8.B. Should Executive’s employment with the
Company terminate by reason of Executive’s death or permanent disability during the Employment Period, Executive, or Executive’s
estate, shall be entitled to receive:

a.       the
unpaid Base Salary earned by Executive pursuant to Section 4.A for services rendered through the date of Executive’s death
or permanent disability, as applicable, payable in accordance with the Company’s normal payroll practices for terminated
salaried employees;

b.       reimbursement
of all expenses for which Executive is entitled to be reimbursed pursuant to Section 6, payable in accordance with the Company’s
normal reimbursement practices;

c.       the
right to continue health care benefits under the Consolidated Omnibus Budget Reconciliation Act of 1986, as amended, at Executive’s
cost, to the extent required and available by law and subject to the Company continuing to maintain a group health plan;

d.       any
accrued but unpaid Performance Bonus pursuant to Section 4.B, payable at such time as provided in Section 4.B;

e.       the
limited death, disability, and/or income continuation benefits provided under Section 6.C, if any, will be payable in accordance
with the terms of the plans pursuant to which such limited death or disability benefits are provided.

Compensation and benefits provided pursuant
to Section 8.B.a. through e. are collectively referred to as the “Accrued Obligations.”

If Executive’s death occurs before
payment of any earned Performance Bonus, the applicable payments will be made to the Executive’s estate. For purposes of
this Agreement, Executive will be deemed “permanently disabled” if Executive is so characterized pursuant to the terms
of the Company’s disability policies or programs applicable to Executive from time to time, or if no such policy is applicable,
if the Compensation Committee determines, in its sole discretion, that Executive is unable to perform the essential functions of
Executive’s duties for physical or mental reasons for ninety (90) days in any twelve-month period.

C.       Termination
for Cause; Resignation without Good Reason. The Company may at any time during the Employment Period, upon written notice summarizing
with reasonable specificity the basis for the Termination for Cause, terminate Executive’s employment hereunder for any act
qualifying as a Termination for Cause. Such termination will be effective immediately upon such notice. Upon any Termination for
Cause (or employee’s resignation other than for Good Reason), Executive shall be solely entitled to receive:

    	7

     

    

a.       the
unpaid Base Salary and Bonuses earned by Executive pursuant to Section 4 for services rendered through the date of termination,
payable in accordance with the Company’s normal payroll practices for terminated salaried employees;

b.       reimbursement
of all expenses for which Executive is entitled to be reimbursed pursuant to Section 6, payable in accordance with the Company’s
normal reimbursement practices; and

c.       the
right to continue health care benefits under the Consolidated Omnibus Budget Reconciliation Act of 1986, as amended, at Executive’s
cost, to the extent required and available by law and subject to the Company continuing to maintain a group health plan.

D.       Involuntary
Termination Without Cause by the Company; Resignation by Executive for Good Reason. The Company shall be entitled to terminate
Executive with 60-days’ notice, other than a Termination for Cause, and Executive shall be entitled to resign with or without
Good Reason, in each case at any time; provided, however, that if Executive (1) is terminated by the Company other than in circumstances
constituting a Termination for Cause, or (2) resigns for Good Reason, then Executive shall be solely entitled to receive:

a.       The
Accrued Obligations through the date of termination, payable in a lump sum within 15 days;

b.       The
greater of Executive’s unpaid salary remaining in the Term, or salary equal to that which would have been earned during the
required 60-day notice period, payable in a lump sum within 15 days;

c.       Full
payment of the Change of Control Bonus, if Executive is entitled to such bonus under Section 4.B.a.

d.       
Pro-rated payment of the Performance Bonus tied to the Company’s Earnings (Sections 4.B.b and 4.B.c).

e.       The
immediate vesting of all Options and all other awards held by Executive under any equity incentive plan that may be adopted by
the Board, except and only to the extent that (i) any agreement with respect to an award specifically provides otherwise and (ii)
such vesting would not result in the imposition of the additional tax under Section 409A of the Code.

f.       For
purposes of clarity, a termination of Executive’s employment due to Executive’s death or to Executive’s permanent
disability shall not be considered either a termination by the Company without cause or a resignation by Executive for Good Reason,
and such termination shall not entitle Executive (or his heirs or representatives) to any compensation or benefits pursuant to
this Section 8.D.

    	8

     

    

E.       Termination
by Non-Renewal. In the event the company fails to renew Executive’s employment before the expiration of this Agreement
(“Non-Renewal”), Executive shall be entitled to receive:

a.       The
Accrued Obligations through the date of termination, payable in a lump sum within 15 days.

b.       Full
payment of the Change of Control Bonus, if Executive is entitled to such bonus under Section 4.B.a.

c.       Pro-rated
payment of the Performance Bonus tied to the Company’s Earnings (Sections 4.B.b and 4.B.c).

F.       Resignations
from Other Positions. Upon any termination of Executive’s employment, and as a condition to Executive receiving any benefits
under 8D or 8E (the “Severance Benefits”) under this Agreement, if so requested by a majority of the
Board, Executive will immediately resign (1) as a director of the Company and any of its subsidiaries, (2) from all officer or
other positions of the Company, and (3) from all fiduciary positions (including as trustee) Executive then holds with respect to
any employee benefit plans or trusts established, maintained or sponsored by the Company or by any of its Affiliates. Failure by
Executive to resign immediately from all positions described in the immediately preceding sentence shall result in automatic forfeiture
of any and all rights to the Severance Benefits.

G.       Options
Upon Termination. Except as otherwise provided in Section 8, upon termination of Executive’s employment for any reason
and subject to the terms of the Company’s Stock Plan, as it may be amended from time to time, including by reason of Executive’s
death or permanent disability, any portion of any options held by the Executive that are not then vested will immediately be forfeited
and expire for no consideration and the remainder of such options will remain exercisable pursuant to the terms of the Company’s
Stock Plan (with the understanding that any options that are intended to be “incentive stock options” under the Code
shall thereupon be disqualified from such treatment); provided, that any portion of the options held by Executive immediately prior
to Executive’s death, to the extent then exercisable, will remain exercisable pursuant to the terms of the Company’s
following Executive’s death; and provided, further, that in no event shall any portion of the options be exercisable after
the Final Exercise Date.

H.       Release.
Notwithstanding anything contained herein, Executive’s right to receive (or retain) the Severance Benefits other than the
Accrued Obligations through the date of termination, is conditioned on and subject to Executive’s execution within twenty-one
(21) days (or, to the extent required by applicable law, forty-five (45) days) following the termination date and non-revocation
within seven (7) days thereafter of a general release of claims in a form provided by the Company.

9.       Section
409A of the Code.

A.       General.
This Agreement shall be interpreted and applied in all circumstances in a manner that is consistent with the intent of the parties
that, to the extent applicable, amounts earned and payable pursuant to this Agreement shall constitute short-term deferrals exempt
from the application of Section 409A of the Code and, if not exempt, that amounts earned and payable pursuant to this Agreement
shall not be subject to the premature income recognition or adverse tax provisions of Section 409A of the Code.

    	9

     

    

B.       Separation
from Service. References in this Agreement to “termination” of Executive’s employment, “resignation”
by Executive from employment and similar terms shall, with respect to such events that will result in payments of compensation
or benefits, mean for such purposes a “separation from service” as defined under Section 409A of the Code.

C.       Specified
Executive. In the event any one or more amounts payable under this Agreement constitute a “deferral of compensation”
and become payable on account of the “separation from service” (as determined pursuant to Section 409A of the Code)
of Executive and if as such date Executive is a “specified employee” (as determined pursuant to Section 409A of the
Code), such amounts shall not be paid to Executive before the earlier of (i) the first day of the seventh calendar month beginning
after the date of Executive’s “separation from service” or (ii) the date of Executive’s death following
such “separation from service.” Where there is more than one such amount, each shall be considered a separate payment
and all such amounts that would otherwise be payable prior to the date specified in the preceding sentence shall be accumulated
(without interest) and paid together on the date specified in the preceding sentence.

D.       Separate
Payments. For purposes of Section 409A of the Code, each payment or amount due under this Agreement shall be considered a separate
payment, and Executive’s entitlement to a series of payments under this Agreement is to be treated as an entitlement to a
series of separate payments.

E.       Reimbursements.
Any reimbursement to which Executive is entitled pursuant to this Agreement that would constitute nonqualified deferred compensation
subject to Section 409A of the Code shall be subject to the following additional rules: (i) no reimbursement of any such expense
shall affect Executive’s right to reimbursement of any other such expense in any other taxable year; (ii) reimbursement of
the expense shall be made, if at all, not later than the end of the calendar year following the calendar year in which the expense
was incurred; (iii) the right to reimbursement shall not be subject to liquidation or exchange for any other benefit; and (iv)
the right to reimbursement of expenses incurred kind shall terminate one year after the end of the Employment Period.

    	10

     

    

10.       Section
280G of the Code. Notwithstanding anything to the contrary contained herein (or any other agreement entered into by and between
Executive and the Company or any incentive arrangement or plan offered by the Company), in the event that any amount or benefit
paid or distributed to Executive pursuant to this Agreement, taken together with any amounts or benefits otherwise paid to Executive
by the Company (collectively, the “Covered Payments”), would constitute an “excess parachute payment”
as defined in Section 280G of the Code, and would thereby subject Executive to an excise tax under Section 4999 of the
Code (an “Excise Tax”), the provisions of this Section 10 shall apply. If the aggregate present
value (as determined for purposes of Section 280G of the Code) of the Covered Payments exceeds the amount which can be paid
to Executive without Executive incurring an Excise Tax, then the amounts payable to Executive under this Agreement (or any other
agreement by and between Executive and the Company or pursuant to any incentive arrangement or plan offered by the Company) shall
be reduced (but not below zero) to the maximum amount which may be paid hereunder without Executive becoming subject to the Excise
Tax (such reduced payments to be referred to as the “Payment Cap”). In the event Executive receives reduced
payments and benefits as a result of application of this Section 10, Executive shall have the right to designate which of
the payments and benefits otherwise set forth herein (or any other agreement between the Company and Executive or any incentive
arrangement or plan offered by the Company) shall be received in connection with the application of the Payment Cap, subject to
the following sentence. Reduction shall first be made from payments and benefits which are determined not to be nonqualified deferred
compensation for purposes of Section 409A of the Code, and then shall be made (to the extent necessary) out of payments and
benefits that are subject to Section 409A of the Code and that are due at the latest future date.

11.       No
Guarantee of Tax Consequences. The Board, the Compensation Committee, the Company and its Affiliates, officers and employees
make no commitment or guarantee to Executive that any federal, state, local or other tax treatment will apply or be available to
Executive or any other person eligible for compensation or benefits under this Agreement and assume no liability whatsoever for
the tax consequences to Executive or to any other person eligible for compensation or benefits under this Agreement.

12.       Controlling
Law, Jurisdiction and Venue. This Agreement and all questions relating to its validity, interpretation, performance, and enforcement
will be governed by and construed in accordance with the laws of the State of Washington, notwithstanding any Washington or other
conflict-of-interest provisions to the contrary.    Executive agrees that any and all claims arising between
the parties out of this agreement shall be controlled by the laws of the State of Colorado, as follows: any dispute, controversy
arising out of, connected to, or relating to any matters herein of the transactions between Company and Executive, or this Agreement,
which cannot be resolved by negotiation (including, without limitation, any dispute over the arbitrability of an issue), will be
settled by binding arbitration in accordance with the J.A.M.S/ENDISPUTE Arbitration Rules and Procedures, as amended by this Agreement.
Arbitration proceedings will be held in Denver, Colorado. Company and Executive agree the prevailing party on any action to enforce
rights hereunder shall be entitled, in addition to any awarded damages, their costs and reasonable attorney’s fees, whether
at arbitration, or on appeal. The parties agree that this provision and the Arbitrator’s authority to grant relief are
subject to the United States Arbitration Act, 9 U.S.C. 1- 16 et seq. (“USAA”) and the provisions of this Agreement.
The parties agree that the arbitrator have no power or authority to make awards or issue orders of any kind except as expressly
permitted by this Agreement, and in no event does the arbitrator have the authority to make any award that provides for punitive
or exemplary damages. The award may be confirmed and enforced in any court of competent jurisdiction. All post-award proceedings
will be governed by the USAA. Company and Executive irrevocably consent to the jurisdiction and venue of such arbitration and such
courts.

    	11

     

    

13.       Entire
Agreement; Severability. This Agreement and the agreements referenced herein contain the entire agreement of the parties relating
to the subject matter hereof, and supersede in their entirety any and all prior agreements, understandings or representations relating
to the subject matter hereof, including the 2018 Agreement. No agreements or representations, oral or otherwise, express or implied,
with respect to the subject matter hereof have been made by either party which are not expressly set forth in this Agreement. The
provisions of this Agreement shall be deemed severable and, if any provision is found to be illegal, invalid or unenforceable for
any reason, (a) the provision will be amended automatically to the minimum extent necessary to cure the illegality or invalidity
and permit enforcement and (b) the illegality, invalidity or unenforceability will not affect the legality, validity or enforceability
of the other provisions hereof.

14.       Amendment;
Committee Authority. This Agreement may be amended, supplemented, or modified only by a written instrument duly executed by
or on behalf of each party hereto. All determinations and other actions required or permitted hereunder to be made by or on behalf
of the Company or the Board may be made by either the Board (excluding Executive therefrom) or the Compensation Committee (or any
other committee subsequently granted authority by the Board); provided that the actions of the Compensation Committee (or any other
committee subsequently granted authority by the Board) shall be subject to the authority then vested in such committee by the Board,
it being understood and agreed that as of the date of this Agreement the Compensation Committee has full authority, concurrent
with the Board, to administer this Agreement; and provided, further, that a decision or action by the Compensation Committee (or
any other committee subsequently granted authority by the Board) hereunder shall be subject to review or modification by the Board
if the Board so chooses.

15.       Waiver.
The rights and remedies of the parties to this Agreement are cumulative and not alternative. Neither the failure nor any delay
by either party in exercising any right, power, or privilege under this Agreement will operate as a waiver of such right, power,
or privilege, and no single or partial exercise of any such right, power, or privilege will preclude any other or further exercise
of such right, power, or privilege or the exercise of any other right, power, or privilege. To the maximum extent permitted by
applicable law, (a) no claim or right arising out of this Agreement can be discharged by one party, in whole or in part, by a waiver
or renunciation of the claim or right unless in writing signed by the other party; (b) no waiver that may be given by a party will
be applicable except in the specific instance for which it is given; and (c) no notice to or demand on one party will be deemed
to be a waiver of any obligation of such party or of the right of the party giving such notice or demand to take further action
without notice or demand as provided in this Agreement.

16.       No
Violation. Executive represents and warrants that the execution and delivery of this Agreement and the performance of Executive’s
services contemplated hereby will not violate or result in a breach by Executive of, or constitute a default under, or conflict
with: (i) any provision or restriction of any employment, consulting, or other similar agreement; (ii) any agreement by Executive
with any third party not to compete with, solicit from, or otherwise disparage such third party; (iii) any provision or restriction
of any agreement, contract, or instrument to which Executive is a party or by which Executive is bound; or (iv) any order, judgment,
award, decree, law, rule, ordinance, or regulation or any other restriction of any kind or character to which Executive is subject
or by which Executive is bound.

17.       Assignment.
Notwithstanding anything else herein, this Agreement is personal to Executive and neither this Agreement nor any rights hereunder
may be assigned by Executive. The Company may assign this Agreement to an affiliate or to any acquirer of all or substantially
all of the business and/or assets of the Company, in which case the term “Company” will mean such affiliate or acquirer.
This Agreement will inure to the benefit of and be binding upon the personal or legal representatives, executors, administrators,
successors, heirs, distributees, devisees, legatees and permitted assignees of the parties.

    	12

     

    

18.       Counterparts,
Facsimile. This Agreement may be executed in one or more counterparts, each of which will be deemed to be an original copy
of this Agreement and all of which, when taken together, will be deemed to constitute one and the same agreement. To the maximum
extent permitted by applicable law, this Agreement may be executed via facsimile.

19.       Notices.
Any notice required to be given under this Agreement shall be deemed sufficient, if in writing, and sent by certified mail, return
receipt requested, via overnight courier, or hand delivered to the Company at 3609 S. Wadsworth Blvd., Suite 250, Lakewood, CO
80235, Attn: Chairman of the Compensation Committee and Chief Financial Officer, and to Executive at the most recent address reflected
in the Company’s employment records.

Signature page follows.

    	13

     

    

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

 

	 	COMMAND CENTER, INC., a Washington corporation
	 	 
	 	By:	  /s/ Lawrence Hagenbuch

 

	 	Name:	 Lawrence Hagenbuch
	 	Title:	BOD, Compensation Chair
	 	 	 
	 	Date:	March 31, 2019

 

 

	 	EXECUTIVE
	 	 
	 	By:	
        /s/ Richard K. Coleman, Jr.

	 	Richard K. Coleman, Jr., an individual
	 	 	 
	 	Date:	March 27, 2019

 

    [Signature Page to Employment Agreement]

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