Document:

EX-10.7

 Exhibit 10.7 

EXECUTION VERSION 

AMENDMENT NO. 4 TO GUARANTEE AGREEMENT 

AMENDMENT NO. 4 TO GUARANTEE AGREEMENT, dated as of July 30, 2021 (this “Amendment”), by and between FS CREDIT REAL
ESTATE INCOME TRUST, INC., a Maryland corporation (“Guarantor”) and WELLS FARGO BANK, NATIONAL ASSOCIATION, a national banking association (“Buyer”). Capitalized terms used but not otherwise defined
herein shall have the meanings given to them in the Repurchase Agreement (as defined below). 
 RECITALS 

WHEREAS, FS CREIT Finance WF-1 LLC, a Delaware limited liability company (“Seller”)
and Buyer are parties to that certain Master Repurchase and Securities Contract, dated as of August 30, 2017 (as amended by (i) Amendment No. 1 to Master Repurchase and Securities Contract, dated as of April 26, 2018, by and
among Seller, Guarantor and Buyer, (ii) Amendment No. 2 to Master Repurchase and Securities Contract, dated of July 24, 2018, between and among Seller, Buyer and Guarantor, (iii) Amendment No. 3 to Master Repurchase and
Securities Contract, dated as of November 30, 2018, between and among Seller, Buyer and Guarantor, (iv) Amendment No. 4 to Master Repurchase and Securities Contract, dated as of August 1, 2019, between and among Seller, Buyer and
Guarantor, (v) Amendment No. 5 to Master Repurchase and Securities Contract, dated as of August 29, 2019, between and among Seller, Buyer and Guarantor, (vi) Amendment No. 6 to Master Repurchase and Securities Contract,
dated as of August 27, 2020, between and among Seller, Buyer and Guarantor, and (vii) Amendment No. 7 to Master Repurchase and Securities Contract, dated as of the date hereof (the “MRA Amendment”), between and among
Seller, Buyer and Guarantor, and as further amended, restated, supplemented or otherwise modified and in effect from time to time, the “Repurchase Agreement”); 

WHEREAS, in connection with the Repurchase Agreement, Guarantor executed and delivered to Buyer the Guarantee Agreement dated as of
August 30, 2017, as amended by Amendment No. 1 to Guarantee Agreement, by and between Buyer and Guarantor, dated as of April 26, 2018, as further amended by Amendment No. 2 to Guarantee Agreement, by and between Buyer and
Guarantor, dated as of August 29, 2018, as further amended by Amendment No. 3 to Guarantee Agreement, by and between Buyer and Guarantor, dated as of August 3, 2020 and effective as of March 31, 2020, as amended hereby, and as
further amended, restated, supplemented or otherwise modified and in effect from time to time, the “Guarantee Agreement”); 

WHEREAS, Guarantor and Buyer have agreed to amend certain provisions of the Guarantee Agreement in the manner set forth herein. 

Therefore, in consideration of the premises and for other good and valuable consideration, the receipt and sufficiency of which are hereby
acknowledged, Guarantor and Buyer hereby each agree as follows: 

 SECTION 1. Amendments to Guarantee Agreement. 

(a) Section 1 of the Guarantee Agreement is hereby amended by inserting the following new definitions in correct alphabetical order:

 “Aggregate Recourse Amount”: The total sum, for all Purchased Assets (other than Legacy Purchased
Assets), of the applicable Recourse Percentage for each such Purchased Asset, multiplied by the then currently unpaid aggregate Repurchase Price of each such Purchased Asset. 

“Recourse Percentage”: With respect to each Purchased Asset (other than any Legacy Purchased Asset),
twenty-five percent (25%); provided, that if the Confirmation for any Purchased Asset (other than any Legacy Purchased Asset) specifies a higher percentage as the “Recourse Percentage” for such Purchased Asset, the Recourse
Percentage for such Purchased Asset shall be such higher percentage so specified in such Confirmation. 
 (b)
Section 2(b) of the Guarantee Agreement is hereby amended and restated in its entirety to read as follows: 

“(b) Notwithstanding anything herein to the contrary, but subject to clause (c) below, the maximum liability of
Guarantor hereunder and under the Repurchase Documents shall in no event exceed the sum of (I) twenty five percent (25%) of the then currently unpaid aggregate Repurchase Price of all Legacy Purchased Assets consisting of Core Purchased Assets,
(II) one hundred percent (100%) of the then currently unpaid aggregate Repurchase Price of all Legacy Purchased Assets consisting of Flex Purchased Assets, and (III) the Aggregate Recourse Amount with respect to all Purchased Assets (other
than Legacy Purchased Assets).” 
 SECTION 2. Conditions Precedent. This Amendment and its provisions shall 

become effective on the date hereof, provided that (a) this Amendment has been executed and delivered by a duly authorized officer of
Guarantor and Buyer and (b) the conditions precedent set forth in Section 3 of the MRA Amendment have been satisfied (the “Amendment Effective Date”). 

SECTION 3. Representations, Warranties and Covenants. Guarantor hereby represents and warrants to Buyer, as of the date hereof
and as of the Amendment Effective Date, that (i) it is in full compliance with all of the terms and provisions set forth in each Repurchase Document to which it is a party on its part to be observed or performed, and (ii) no Default or
Event of Default has occurred or is continuing. Guarantor hereby confirms and reaffirms its representations, warranties and covenants contained in each Repurchase Document to which it is a party. 

SECTION 4. Acknowledgements of Guarantor. Guarantor hereby acknowledges that Buyer is in compliance with its undertakings and
obligations under the Repurchase Agreement and the other Repurchase Documents. 

  
 -2- 

 SECTION 5. Limited Effect. Except as expressly amended and modified by this
Amendment, the Guarantee Agreement shall continue to be, and shall remain, in full force and effect in accordance with their respective terms; provided, however, that upon the Amendment Effective Date, each (x) reference therein
and herein to the “Repurchase Documents” shall be deemed to include, in any event, this Amendment, (y) reference to the “Guarantee Agreement” in any of the Repurchase Documents shall be deemed to be a reference to the
Guarantee Agreement, as amended hereby, and (z) reference in the Guarantee Agreement to “this Guarantee Agreement”, “hereof”, “herein” or words of similar effect in referring to the Guarantee Agreement shall be
deemed to be references to the Guarantee Agreement, as amended by this Amendment. 
 SECTION 6. No Novation, Effect of
Agreement. The parties hereto have entered into this Amendment solely to amend the terms of the Guarantee Agreement and do not intend this Amendment or the transactions contemplated hereby to be, and this Amendment and the transactions
contemplated hereby shall not be construed to be, a novation of any of the obligations owning by Seller, Guarantor or any of their respective Affiliates (the “Repurchase Parties”) under or in connection with the Repurchase Agreement
or any of the other Repurchase Documents. It is the intention of each of the parties hereto that (i) the perfection and priority of all security interests securing the payment of the Repurchase Obligations of the Repurchase Parties under the
Repurchase Agreement are preserved, (ii) the liens and security interests granted under the Repurchase Agreement continue in full force and effect, and (iii) any reference to the Guarantee Agreement in any such Repurchase Document shall be
deemed to also reference this Amendment. 
 SECTION 7. Counterparts. This Amendment may be executed by each of the parties
hereto on any number of separate counterparts, each of which shall be an original and all of which taken together shall constitute one and the same instrument. Delivery of an executed counterpart of a signature page to this Amendment in Portable
Document Format (PDF) or by facsimile transmission shall be effective as delivery of a manually executed original counterpart thereof. 

SECTION 8. Expenses. Guarantor agrees to pay and reimburse Buyer for all out-of-pocket costs and expenses incurred by Buyer in connection with the preparation, execution and delivery of this Amendment, including, without limitation, the fees and disbursements of Cadwalader,
Wickersham & Taft LLP, counsel to Buyer. 
 SECTION 9. GOVERNING LAW. THIS AMENDMENT AND ANY CLAIM,
CONTROVERSY OR DISPUTE ARISING UNDER OR RELATED TO THIS AMENDMENT, THE RELATIONSHIP OF THE PARTIES TO THIS AMENDMENT, AND/OR THE INTERPRETATION AND ENFORCEMENT OF THE RIGHTS AND DUTIES OF THE PARTIES TO THIS AMENDMENT SHALL BE GOVERNED BY AND
CONSTRUED IN ACCORDANCE WITH THE INTERNAL LAWS AND DECISIONS OF THE STATE OF NEW YORK, WITHOUT REGARD TO THE CHOICE OF LAW RULES THEREOF. THE PARTIES HERETO INTEND THAT THE PROVISIONS OF SECTION 5-1401 OF
THE NEW YORK GENERAL OBLIGATIONS LAW SHALL APPLY TO THIS AMENDMENT.

  
 -3- 

 [SIGNATURES FOLLOW] 

  
 -4- 

 IN WITNESS WHEREOF, the parties hereto have caused this Amendment to be duly executed and
delivered as of the day and year first above written. 
  

			
	GUARANTOR:
	
	 FS CREDIT REAL ESTATE INCOME TRUST, INC., a Maryland corporation

		
	By:	 	 /s/ Edward T. Gallivan, Jr.

		 	Name: Edward T. Gallivan, Jr.
		 	Title: Chief Financial Officer

 FS Credit REIT – Amendment No. 4 to the Guarantee Agreement 

 
			
	BUYER:
	
	WELLS FARGO BANK, N.A., a national banking     association
		
	By:	 	 /s/ Michael P. Duncan

		 	Name: Michael P. Duncan
		 	Title: Director

 FS Credit REIT – Amendment No. 4 to the Guarantee AgreementExhibit 10.3

 

LOAN
AND SECURITY AGREEMENT 

 

THIS LOAN AND SECURITY AGREEMENT
is made and dated as of August 16, 2021 and is entered into by and among BiomX Inc.,
a Delaware corporation (and each other Person party hereto as a borrower from time to time, individually or collectively, as the context
may require, “Borrower”), BIOMX LTD., a private company incorporated under the laws of the State of Israel,
reg. no 515220556 (“BIOMX ISR”), RONDINX LTD., a private company incorporated under the laws of the State of
Israel, reg. no 515233997 (“RONDINX” and together with BIOMX ISR and any other Person party hereto from time
to time as a guarantor, collectively, “Guarantors” and each a “Guarantor”), the several
banks and other financial institutions or entities from time to time parties to this Agreement (collectively, referred to as the “Lenders”)
and HERCULES CAPITAL, INC., a Maryland corporation, in its capacity as administrative agent and collateral agent for the Lenders (in such
capacity, the “Agent”).

 

RECITALS

 

A. Borrower
has requested the Lenders make available to Borrower term loans in an aggregate principal amount of up to Thirty Million Dollars ($30,000,000)
(the “Term Loans”); and

 

B. The
Lenders are willing to make the Term Loans on the terms and conditions set forth in this Agreement.

 

AGREEMENT

 

NOW, THEREFORE, Loan Parties, Agent and the Lenders
agree as follows:

 

SECTION
1. DEFINITIONS AND RULES OF CONSTRUCTION

 

1.1 Unless
otherwise defined herein, the following capitalized terms shall have the following meanings:

 

“Account Control
Agreement(s)” means any agreement entered into by and among the Agent, any Loan Party and a third party bank or other institution
(including a Securities Intermediary) in which any Loan Party maintains a Deposit Account or an account holding Investment Property and
which grants Agent a perfected first priority security interest in the subject account or accounts, including as provided for in the ISR
Security Documents.

 

“ACH Authorization”
means the ACH Debit Authorization Agreement in substantially the form of Exhibit H, which account numbers shall be redacted for security
purposes if and when filed publicly by the Borrower.

 

“Acquisition”
means any transaction or series of related transactions for the purpose of or resulting, directly or indirectly, in (a) the acquisition
of all or substantially all of the assets of a Person, or of any business, line of business or division or other unit of operation of
a Person, (b) the acquisition of fifty percent (50%) or more of the Equity Interests of any Person, whether or not involving a merger,
consolidation or similar transaction with such other Person, or otherwise causing any Person to become a Subsidiary of Borrower or (c)
the acquisition of, or the right to use, develop or sell (in each case, including through licensing), any product, product line or Intellectual
Property of or from any other Person.

 

“Advance(s)”
means a Term Loan Advance.

 

“Advance Date”
means the funding date of any Advance.

 

“Advance Request”
means a request for an Advance submitted by Borrower to Agent in substantially the form of Exhibit A, which account numbers shall
be redacted for security purposes if and when filed publicly by the Borrower.

 

[***] Portions of this exhibit (indicated by asterisks) have been omitted
pursuant to Regulation S-K, Item 601(b)(10) and Item 601(a)(5).

 

     

     

    

 

“Affiliate”
means (a) any Person that directly or indirectly controls, is controlled by, or is under common control with the Person in question. As
used in the definition of “Affiliate,” the term “control” means the possession, directly or indirectly, of the
power to direct or cause the direction of the management and policies of a Person, whether through ownership of voting securities, by
contract or otherwise, (b) any Person directly or indirectly owning, controlling or holding with power to vote fifteen percent (15%) or
more of the outstanding voting securities of another Person, or (c) any Person fifteen percent (15%) or more of whose outstanding voting
securities are directly or indirectly owned, controlled or held by another Person with power to vote such securities.

 

“Agreement”
means this Loan and Security Agreement, as amended from time to time.

 

“Amortization
Date” means initially, March 1, 2023, provided that if Performance Milestone I is achieved, such date shall be extended
to September 1, 2023, provided further, that if Performance Milestone II is achieved, such date shall be extended to March 1, 2023.

 

“Anti-Corruption
Laws” means all laws, rules, and regulations of any jurisdiction applicable to a Loan Party or any of its Affiliates from
time to time concerning or relating to bribery or corruption, including without limitation the United States Foreign Corrupt Practices
Act of 1977, as amended, the UK Bribery Act 2010 and other similar legislation in any other jurisdictions.

 

“Anti-Terrorism
Laws” means any laws, rules, regulations or orders relating to terrorism or money laundering, including without limitation
Executive Order No. 13224 (effective September 24, 2001), the USA PATRIOT Act, the laws comprising or implementing the Bank Secrecy Act,
and the laws administered by OFAC and the Israeli Trading With the Enemy Ordinance, 1939.

 

“Blocked Person”
means any Person: (a) listed in the annex to, or is otherwise subject to the provisions of, Executive Order No. 13224, (b) a Person owned
or controlled by, or acting for or on behalf of, any Person that is listed in the annex to, or is otherwise subject to the provisions
of, Executive Order No. 13224, (c) a Person with which any Lender is prohibited from dealing or otherwise engaging in any transaction
by any Anti Terrorism Law, (d) a Person that commits, threatens or conspires to commit or supports “terrorism” as defined
in Executive Order No. 13224, or (e) a Person that is named a “specially designated national” or “blocked person”
on the most current list published by OFAC or other similar list.

 

“Borrower’s
Books” means Borrower’s or any of its Subsidiaries’ books and records including ledgers, federal, state, local
and foreign tax returns, records regarding Borrower’s or its Subsidiaries’ assets or liabilities, the Collateral, business
operations or financial condition, and all computer programs or storage or any equipment containing such information.

 

“Business Day”
means any day other than Saturday, Sunday and any other day on which banking institutions in the State of California, the State of New
York or Tel Aviv, Israel are closed for business.

 

means [***]

“Cash”
means all cash, cash equivalents and liquid funds.

 

“Change in Control”
means (i) any reorganization, recapitalization, consolidation or merger (or similar transaction or series of related transactions) of
Borrower, sale or exchange of outstanding shares (or similar transaction or series of related transactions) of Borrower in which the holders
of Borrower’s outstanding shares immediately before consummation of such transaction or series of related transactions do not, immediately
after consummation of such transaction or series of related transactions, retain shares representing more than fifty percent (50%) of
the voting power of the surviving entity of such transaction or series of related transactions (or the parent of such surviving entity
if such surviving entity is wholly owned by such parent), in each case without regard to whether Borrower is the surviving entity, or
(ii) a transaction whereby a Guarantor ceases to be wholly-owned, directly or indirectly, by Borrower.

 

 

 

[***] Portions of this exhibit (indicated by asterisks) have been omitted
pursuant to Regulation S-K, Item 601(b)(10) and Item 601(a)(5).

 

    2

     

    

 

“Closing Date”
means the date of this Agreement.

 

“Code”
means the Internal Revenue Code of 1986, as amended.

 

“Common Stock”
means the Common Stock, $0.0001 par value per share, of the Borrower.

 

“Contingent Obligation”
means, as applied to any Person, any direct or indirect liability, contingent or otherwise, of that Person with respect to (i) any Indebtedness,
lease, dividend, letter of credit or other obligation of another, including any such obligation directly or indirectly guaranteed, endorsed,
co-made or discounted or sold with recourse by that Person, or in respect of which that Person is otherwise directly or indirectly liable;
(ii) any obligations with respect to undrawn letters of credit, corporate credit cards or merchant services issued for the account of
that Person; and (iii) all obligations arising under any interest rate, currency or commodity swap agreement, interest rate cap agreement,
interest rate collar agreement, or other agreement or arrangement designated to protect a Person against fluctuation in interest rates,
currency exchange rates or commodity prices; provided, however, that the term “Contingent Obligation” shall not include endorsements
for collection or deposit in the ordinary course of business. The amount of any Contingent Obligation shall be deemed to be an amount
equal to the stated or determined amount of the primary obligation in respect of which such Contingent Obligation is made or, if not stated
or determinable, the maximum reasonably anticipated liability in respect thereof as determined by such Person in good faith; provided,
however, that such amount shall not in any event exceed the maximum amount of the obligations under the guarantee or other support arrangement.
Notwithstanding the foregoing, no Permitted Bond Hedge Transaction or Permitted Warrant Transaction will be considered a Contingent Obligation
of Borrower.

 

“Copyright License”
means any written agreement granting any right to use any Copyright or Copyright registration, now owned or hereafter acquired by any
Loan Party or in which any Loan Party now holds or hereafter acquires any interest.

 

“Copyrights”
means all copyrights, whether registered or unregistered, held pursuant to the laws of the United States of America, any State thereof,
or of any other country.

 

“Deposit Accounts”
means any “deposit account,” as such term is defined in the UCC, and includes any checking account, savings account, or certificate
of deposit.

 

“Due Diligence Fee”
means Thirty Thousand Dollars ($30,000), which fee has been paid to the Lenders prior to the Closing Date, and shall be deemed fully earned
on such date regardless of the early termination of this Agreement.

 

“Equity Interests”
means, with respect to any Person, the capital stock, partnership or limited liability company interest, or other equity securities or
equity ownership interests of such Person.

 

“ERISA”
means the Employee Retirement Income Security Act of 1974, as amended, and the regulations promulgated thereunder.

 

“Excluded Accounts”
means (i) any Deposit Account that is used solely as a payroll account for the employees of any Loan Party or any of its Subsidiaries
or the funds in which consist solely of funds held in trust for any director, officer or employee of such Loan Party or Subsidiary or
any employee benefit plan maintained by such Loan Party or Subsidiary or funds representing deferred compensation for the directors and
employees of such Loan Party or Subsidiary, collectively not to exceed 150% of the amount to be paid in the ordinary course of business
in the then-next payroll cycle, (ii) escrow accounts, Deposit Accounts and trust accounts, in each case holding assets that are pledged
or otherwise encumbered pursuant to clauses (vi) and (xiv) of the definition of Permitted Liens (but only to the extent required to be
excluded pursuant to the underlying documents entered into in connection with such Permitted Liens in the ordinary course of business),
(iii) accounts containing no (zero) balance and (iv) any Deposit Account with a balance less than, together with any other Deposit Account
excluded pursuant to this clause (iv), in the aggregate, Fifty Thousand Dollars ($50,000).

 

“Excluded Assets”
means (i) motor vehicles and other equipment subject to a certificate of title statute, (ii) assets subject to a Lien permitted by clause
(vii) of the definition of Permitted Liens for purchase money debt obligations, in each case in favor of a Person other than the Borrower
and its Subsidiaries and permitted hereunder, if the contract or other agreement in which such Lien is granted prohibits the creation
of any other Lien on such assets or creates a right of termination in favor of such Person (other than to the extent that any such prohibition
would be rendered ineffective pursuant to the UCC of any relevant jurisdiction or any other applicable law), (iii) any governmental licenses
or state or local franchises, charters and authorizations, to the extent a security interest in any such license, franchise, charter or
authorization is prohibited or restricted thereby (other than to the extent that any such prohibition or restriction would be rendered
ineffective pursuant to the UCC of any relevant jurisdiction or any other applicable law) (iv) nonassignable licenses or contracts, which
by their terms require the consent of the licensor thereof or another party (other than to the extent that any such prohibition would
be rendered ineffective pursuant to the UCC of any relevant jurisdiction or any other applicable law), (v) any Excluded Accounts and (vi)
any Intellectual Property.

 

[***] Portions of this exhibit (indicated by asterisks) have been omitted
pursuant to Regulation S-K, Item 601(b)(10) and Item 601(a)(5).

 

    3

     

    

 

“GAAP”
means generally accepted accounting principles in the United States of America, as in effect from time to time.

 

“Governmental Approval”
means any consent, authorization, approval, order, license, franchise, permit, certificate, accreditation, registration, filing or notice,
of, issued by, from or to, or other act by or in respect of, any Governmental Authority, including for the testing, manufacturing, marketing
and sales of a Product.

 

“Governmental Authority”
means the government of any nation, any political subdivision thereof, whether state, local, territory, province or otherwise, and any
agency, authority, instrumentality, regulatory body, court, central bank or other entity exercising executive, legislative, judicial,
taxing, regulatory or administrative powers or functions of or pertaining to government, any securities exchange and any self-regulatory
organization.

 

“Guarantor”
means BIOMX ISR, RONDINX and each other Person party hereto as a guarantor from time to time.

 

“IIA”
is the Israel Innovation Authority of the Israeli Ministry of the Economy.

 

“Indebtedness”
means indebtedness of any kind, including (a) all indebtedness for borrowed money or the deferred purchase price of property or services
(excluding trade credit entered into in the ordinary course of business due within one hundred eighty (180) days), including reimbursement
and other obligations with respect to surety bonds and letters of credit, (b) all obligations evidenced by notes, bonds, debentures or
similar instruments, (c) all capital lease obligations, (d) equity securities of any Person subject to repurchase or redemption other
than at the sole option of such Person, (e) “earnouts”, purchase price adjustments, profit sharing arrangements, deferred
purchase money amounts and similar payment obligations or continuing obligations of any nature arising out of purchase and sale contracts,
(f) non-contingent obligations to reimburse any bank or Person in respect of amounts paid under a letter of credit, banker’s acceptance
or similar instrument, and (g) all Contingent Obligations. For the avoidance of doubt no Permitted Warrant Transaction shall be considered
Indebtedness of the Borrower.

 

“Initial Facility
Charge” means Two Hundred Twenty Five Thousand Dollars ($225,000), which is payable to the Lenders in accordance with Section
4.1(f).

 

“Intellectual Property”
means all of each Loan Party’s Copyrights; Trademarks; Patents; Licenses; trade secrets and inventions; mask works; each Loan Party’s
applications therefor and reissues, extensions, or renewals thereof; and each Loan Party’s goodwill associated with any of the foregoing,
together with each Loan Party’s rights to sue for past, present and future infringement of Intellectual Property and the goodwill
associated therewith.

 

[***] Portions of this exhibit (indicated by asterisks) have been omitted
pursuant to Regulation S-K, Item 601(b)(10) and Item 601(a)(5).

 

    4

     

    

 

“Investment”
means (a) any beneficial ownership (including stock, partnership, limited liability company interests, or other securities) of or in any
Person, (b) any loan, advance or capital contribution to any Person or (c) any Acquisition.

 

“IRS”
means the United States Internal Revenue Service.

 

“ISR BIOMX Debentures”
means the Debenture Fixed Charge Agreement and the Debenture Floating Charge Agreement, including all exhibits and schedules thereto and
any Hebrew translation thereof, dated as of the Closing Date, by and between BIOMX ISR and Agent, as amended, restated, supplemented or
otherwise modified, from time to time.

 

“ISR RONDINX Debentures”
means the Debenture Fixed Charge Agreement and the Debenture Floating Charge Agreement, including all exhibits and schedules thereto and
any Hebrew translation thereof, dated as of the Closing Date, by and between RONDINX ISR and Agent, as amended, restated, supplemented
or otherwise modified, from time to time.

 

“ISR Security Document(s)”
means, collectively, the ISR BIOMX Debentures, the ISR RONDINX Debentures, and any other collateral security document entered into governed
by the laws of Israel, including all exhibits and schedules thereto and any Hebrew translation thereof, as amended, restated, supplemented
or otherwise modified, from time to time.

 

“Joinder Agreements”
means for each Subsidiary, a completed and executed Joinder Agreement in substantially the form attached hereto as Exhibit F.

 

“License”
means any Copyright License, Patent License, Trademark License or other license of rights or interests.

 

“Lien”
means any mortgage, deed of trust, pledge, hypothecation, assignment for security, security interest, encumbrance, levy, lien or charge
of any kind, whether voluntarily incurred or arising by operation of law or otherwise, against any property, any conditional sale or other
title retention agreement, and any lease in the nature of a security interest.

 

“Loan”
means the Advances made under this Agreement.

 

“Loan Documents”
means this Agreement, the promissory notes (if any), the ACH Authorization, the Account Control Agreements, the Joinder Agreements, all
UCC Financing Statements, any Pledge Agreement, any ISR Security Document, and any other documents executed in connection with the Secured
Obligations or the transactions contemplated hereby, as the same may from time to time be amended, modified, supplemented or restated.

 

“Loan Party”
means the Borrower and each Guarantor.

 

“Market Capitalization”
means for any given date of determination, an amount equal to (a) the closing price of the Common Stock as reported for such date of determination
(it being understood that a “trading day” shall mean a day on which shares of Common Stock trade on the NYSE in an ordinary
trading session) multiplied by (b) the total number of issued and outstanding shares of Common Stock that are issued and outstanding
on the date of the determination and listed on the NYSE (or, if the primary listing of such Common Stock is on another exchange, on such
other exchange). Such determination shall be appropriately adjusted for any stock dividend, stock split, stock combination, reclassification
or other similar transaction during the applicable calculation period.

 

[***] Portions of this exhibit (indicated by asterisks) have been omitted
pursuant to Regulation S-K, Item 601(b)(10) and Item 601(a)(5).

 

    5

     

    

 

“Material Adverse
Effect” means a material adverse effect upon: (i) the business, operations, properties, assets or financial condition
of the Loan Parties and their Subsidiaries taken as a whole; or (ii) the ability of the Loan Parties to perform or pay the Secured
Obligations in accordance with the terms of the Loan Documents, or the ability of Agent or the Lenders to enforce any of its rights or
remedies with respect to the Secured Obligations; or (iii) the Collateral or Agent’s Liens on the Collateral or the priority of
such Liens.

 

“Maximum Term Loan
Amount” means Thirty Million Dollars ($30,000,000).

 

“Non-Disclosure
Agreement” means that certain Mutual Confidentiality Agreement by and between BIOMX ISR and Agent dated as of May 14, 2021.

 

“OFAC”
is the U.S. Department of Treasury Office of Foreign Assets Control.

 

“OFAC Lists”
are, collectively, the Specially Designated Nationals and Blocked Persons List maintained by OFAC pursuant to Executive Order No. 13224,
66 Fed. Reg. 49079 (Sept. 25, 2001) and/or any other list of terrorists or other restricted Persons maintained pursuant to any of the
rules and regulations of OFAC or pursuant to any other applicable Executive Orders.

 

“Participant Register”
has the meaning specified in Section 11.8.

 

“Patent License”
means any written agreement granting any right with respect to any invention on which a Patent is in existence or a Patent application
is pending, in which agreement any Loan Party now holds or hereafter acquires any interest.

 

“Patents”
means all letters patent of, or rights corresponding thereto, in the United States of America or in any other country, all registrations
and recordings thereof, and all applications for letters patent of, or rights corresponding thereto, in the United States of America or
any other country.

 

“Performance
Milestone I” means (a) no Event of Default shall have occurred and be continuing and (b) Borrower shall h

“Performance
Milestone I” means (a) no Event of Default shall have occurred and be continuing and (b) Borrower shall have achieved the
protocol-specified primary endpoints in at least two of the following three clinical trials evaluating the safety of a Product: [***],
such that the data supports from each of these two trials, in the judgment of the Borrower’s board of directors, the initiation
of Phase 2b or Phase 3 trials in such program as the next step in clinical development, and in each case, Agent shall have received supporting
documentation thereof, which shall be subject to Agent’s reasonable verification.

“Performance Milestone
II” means (a) no Event of Default shall have occurred and be continuing and (b) Borrower has entered into a definitive agreement
for [***] of [***] reasonably deemed validating by Agent, and the Company has dosed the first patient in [***], and, in each case, Agent
shall have received supporting documentation thereof, which shall be subject to Agent’s reasonable verification.

 

“Permitted Acquisition”
means any Acquisition by any Loan Party, which is conducted in accordance with the following requirements:

 

(a) such
Acquisition is of a business or Person or product engaged in a line of business related to that of the Borrower or its Subsidiaries;

 

(b) if
such Acquisition is structured as a stock acquisition, then the Person so acquired shall either (i) become a wholly-owned Subsidiary of
a Loan Party or of a Subsidiary and such Loan Party shall comply, or cause such Subsidiary to comply, with 7.13 hereof or (ii) such Person
shall be merged with and into a Loan Party (with the Loan Party being the surviving entity);

 

[***] Portions of this exhibit (indicated by asterisks) have been omitted
pursuant to Regulation S-K, Item 601(b)(10) and Item 601(a)(5).

 

    6

     

    

 

(c) if
such Acquisition is structured as the acquisition or in-licensing of assets, such assets shall be acquired by a Loan Party, and shall
be free and clear of Liens other than Permitted Liens;

 

(d) the
Loan Party shall have delivered to the Lenders not less than fifteen (15) nor more than forty five (45) days prior to the date of such
Acquisition, notice of such Acquisition together with pro forma projected financial information, copies of all material documents relating
to such acquisition, and historical financial statements for such acquired entity, division or line of business, in each case in form
and substance satisfactory to the Lenders and demonstrating compliance with the covenants set forth in Section 7.19 hereof on a pro forma
basis as if the Acquisition occurred on the first day of the most recent measurement period;

 

(e) both
immediately before and after such Acquisition no Default or Event of Default shall have occurred and be continuing;

 

(f) such
Person or property being so acquired shall be subject to Agent’s first priority Lien; and

 

(g) the
sum of the purchase price of such proposed new Acquisition, computed on the basis of total acquisition consideration paid or incurred,
or to be paid or incurred, by such Loan Party with respect thereto, including the amount of Permitted Indebtedness assumed or to which
such assets, businesses or business or ownership interest or shares, or any Person so acquired, is subject, and any contingent acquisition
consideration payments paid pursuant to any Acquisition consummated prior to the Closing Date, shall not be greater than $5,000,000 for
all such Acquisitions in any fiscal year; provided that Acquisition consideration funded by proceeds from the sale and issuance
of a Loan Party’s Equity Interests in a transaction not resulting in a Change in Control, which sale and issuance has a primary
purpose to fund such Acquisition, and which sale and issuance is consummated substantially contemporaneously with (and in any event, prior
to, but no not more than ninety (90) days prior to) the consummation of such Acquisition (or funded by other equity financing proceeds
as approved by Agent in its discretion), shall be disregarded in determining compliance with this clause (g).

 

“Permitted Bond
Hedge Transaction” means any call or capped call option (or substantively equivalent derivative transaction) relating to
the Common Stock (or other securities or property following a merger event or other change of the Common Stock) purchased by Borrower
in connection with the issuance of any Permitted Convertible Debt and as may be amended in accordance with its terms; provided
that, the net purchase price of any such call option transaction less the amount received by Borrower in respect of any Permitted Warrant
Transaction in connection with such issuance of Permitted Convertible Debt shall not exceed 20% of the gross proceeds to Borrower from
such issuance of Permitted Convertible Debt; provided further that the terms, conditions and covenants of each such call option
transaction are customary for agreements of such type, as determined in good faith by Borrower.

 

“Permitted Convertible
Debt” means Indebtedness of the Borrower that is convertible into a fixed number (subject to customary anti-dilution adjustments,
“make-whole” increases and other customary changes thereto) of shares of Common Stock (or other securities or property following
a merger event or other change of the Common Stock), cash or any combination thereof (with the amount of such cash or such combination
determined by reference to the market price of such Common Stock or such other securities); provided that such Indebtedness shall
(a) not require any scheduled amortization or otherwise require payment of principal prior to, or have a scheduled maturity date, earlier
than, one hundred eighty (180) days after the Term Loan Maturity Date, (b) be unsecured, (c) be on terms and conditions customary for
Indebtedness of such type, as determined in good faith by the Borrower; and (d) not be guaranteed by any Subsidiary of Borrower; provided
further, that any cross-default or cross-acceleration event of default (each howsoever defined) provision contained therein that relates
to indebtedness or other payment obligations of Borrower (or any of its Subsidiaries) (such indebtedness or other payment obligations,
a “Cross-Default Reference Obligation”) contains a cure period of at least thirty (30) calendar days (after
written notice to the issuer of such Indebtedness by the trustee or to such issuer and such trustee by holders of at least 25% in aggregate
principal amount of such Indebtedness then outstanding) before a default, event of default, acceleration or other event or condition under
such Cross-Default Reference Obligation results in an event of default under such cross-default or cross-acceleration provision.

 

[***] Portions of this exhibit (indicated by asterisks) have been omitted
pursuant to Regulation S-K, Item 601(b)(10) and Item 601(a)(5).

 

    7

     

    

 

“Permitted Exclusive
License” means an exclusive License to commercialize, within the United States, BX001.

 

“Permitted Indebtedness”
means:

 

(i) Indebtedness
of any Loan Party in favor of the Lenders or Agent arising under this Agreement or any other Loan Document;

 

(ii) Indebtedness
existing on the Closing Date which is disclosed in Schedule 1A;

 

(iii) Indebtedness
of up to $250,000 outstanding at any time secured by a Lien described in clause (vii) of the defined term “Permitted Liens,”
provided such Indebtedness does not exceed the cost of the Equipment financed with such Indebtedness;

 

(iv) Indebtedness
to trade creditors incurred in the ordinary course of business;

 

(v) 
Indebtedness incurred in the ordinary course of business with corporate credit cards in an amount not to exceed $500,000 at any time outstanding;

 

(vi) Indebtedness
that also constitutes a Permitted Investment;

 

(vii) Subordinated
Indebtedness;

 

(viii) reimbursement
obligations in connection with letters of credit that are secured by Cash and issued on behalf of a Loan Party or a Subsidiary thereof
in an amount not to exceed $500,000 at any time outstanding;

 

(ix) Indebtedness
consisting of financing of insurance premiums in the ordinary course of business;

 

(x) Indebtedness
under interest rate or foreign currency exchange agreements, commodity price protection agreements or other similar agreements entered
into by any Loan Party in the ordinary course of business;

 

(xi) other
unsecured Indebtedness in an amount not to exceed $500,000 at any time outstanding;

 

(xii) intercompany
Indebtedness as long as each of the Subsidiary obligor and the Subsidiary obligee under such Indebtedness is a Loan Party or a Subsidiary
that has executed a Joinder Agreement;

 

(xiii) Permitted
Convertible Debt not to exceed $150,000,000.00 in aggregate principal amount at any one time outstanding; and

 

(xiv) extensions,
refinancings and renewals of any items of Permitted Indebtedness, provided that the principal amount is not increased or the terms modified
to impose materially more burdensome terms upon a Loan Party or its Subsidiary, as the case may be, except to the extent of any premiums
or penalties, accrued and unpaid interest thereon and reasonable fees and expenses associated with such extensions, refinancing and renewals.

 

“Permitted Investment”
means:

 

(i) Investments
existing on the Closing Date which are disclosed in Schedule 1B;

 

[***] Portions of this exhibit (indicated by asterisks) have been omitted
pursuant to Regulation S-K, Item 601(b)(10) and Item 601(a)(5).

 

    8

     

    

 

(ii) (a)
marketable direct obligations issued or unconditionally guaranteed by the United States of America or any agency or any State thereof
maturing within one year from the date of acquisition thereof currently having a rating of at least A-2 or P-2 from either Standard &
Poor’s Corporation or Moody’s Investors Service, (b) commercial paper maturing no more than one year from the date of creation
thereof and currently having a rating of at least A-2 or P-2 from either Standard & Poor’s Corporation or Moody’s Investors
Service, (c) certificates of deposit issued by any bank with assets of at least $500,000,000 maturing no more than one year from the date
of investment therein, (d) money market accounts and (e) other Investments described in the Borrower’s investment policy as approved
by Agent in writing (it being understood that the investment policy provided to Agent prior to the Closing Date shall be deemed approved
in writing) and the Borrower’s board of directors from time to time;

 

(iii) repurchases
of shares or stock from former employees, directors, or consultants of a Loan Party under the terms of applicable repurchase agreements
at the original issuance price of such securities in an aggregate amount not to exceed $350,000 in any fiscal year, provided that no Event
of Default has occurred, is continuing or could exist immediately after giving effect to the repurchases;

 

(iv) Investments
accepted in connection with Permitted Transfers;

 

(v) Investments
(including debt obligations) (a) received in connection with the bankruptcy or reorganization of customers or suppliers and in settlement
of delinquent or doubtful obligations of, and other disputes with, customers or suppliers arising in the ordinary course of any Loan Party’s
business, (b) Investments consisting of the endorsement of negotiable instruments for deposit or collection or similar transactions in
the ordinary course of business and (c) any “at the market” securities issued and purchased pursuant to the Borrower’s
current “at the market” facility and similar facilities;

 

(vi) Investments
consisting of notes receivable of, or prepaid royalties and other credit extensions, to customers and suppliers who are not Affiliates,
in the ordinary course of business, provided that this subparagraph (vi) shall not apply to Investments of a Loan Party in any Subsidiary;

 

(vii) Investments
consisting of loans not involving the net transfer on a substantially contemporaneous basis of cash proceeds to employees, officers or
directors relating to the purchase of capital stock of Borrower pursuant to employee share or stock purchase plans or other similar agreements
approved by Borrower’s board of directors;

 

(viii) Investments
consisting of travel, relocation loans, and other loan advances (or guarantees thereof) to employees, officers and directors advances
in the ordinary course of business;

 

(ix) Investments
in newly-formed Subsidiaries, provided that each such Subsidiary enters into a Joinder Agreement promptly after its formation by a Loan
Party and execute such other documents as shall be reasonably requested by Agent;

 

(x) Investments
in Loan Parties, subject to compliance with Section 7.17;

 

(xi) Investments
in Subsidiaries that are not Loan Parties in an aggregate amount not to exceed $250,000 per fiscal year;

 

(xii) joint
ventures or strategic alliances in the ordinary course of a Loan Party’s business consisting of the nonexclusive licensing of technology,
the development of technology or the providing of technical support, provided that any cash Investments by Loan Parties do not exceed
$1,000,000 in the aggregate in any fiscal year;

 

(xiii) Investments
consisting of Permitted Acquisitions;

 

[***] Portions of this exhibit (indicated by asterisks) have been omitted
pursuant to Regulation S-K, Item 601(b)(10) and Item 601(a)(5).

 

    9

     

    

 

(xiv) Borrower’s
entry into (including payments of premiums in connection therewith), and the performance of obligations under, any Permitted Bond Hedge
Transactions and Permitted Warrant Transactions in accordance with their terms; and

 

(xv) additional
Investments that do not exceed $500,000 in the aggregate.

 

“Permitted Liens”
means:

 

(i) Liens
in favor of Agent or the Lenders;

 

(ii) Liens
existing on the Closing Date which are disclosed in Schedule 1C;

 

(iii) Liens
for taxes, fees, assessments or other governmental charges or levies, either not yet due or being contested in good faith by appropriate
proceedings; provided, that the Borrower (or the applicable Loan Party) maintains adequate reserves therefor on Borrower’s Books
in accordance with GAAP;

 

(iv) Liens
securing claims or demands of materialmen, artisans, mechanics, carriers, warehousemen, landlords and other like Persons arising in the
ordinary course of business and imposed without action of such parties; provided, that the payment thereof is not yet required;

 

(v) Liens
arising from judgments, decrees or attachments in circumstances which do not constitute an Event of Default hereunder;

 

(vi) deposits
to secure the performance of obligations (including by way of deposits to secure letters of credit issued to secure the same) under clinical
and commercial supply and/or manufacturing agreements entered into in the ordinary course of business and the following deposits, to the
extent made in the ordinary course of business: deposits under worker’s compensation, unemployment insurance, social security and
other similar laws, or to secure the performance of bids, tenders or contracts (other than for the repayment of borrowed money) or to
secure indemnity, performance or other similar bonds for the performance of bids, tenders or contracts (other than for the repayment of
borrowed money) or to secure statutory obligations (other than Liens arising under ERISA or environmental Liens) or surety or appeal bonds,
or to secure indemnity, performance or other similar bonds;

 

(vii) Liens
on Equipment, software or other intellectual property constituting purchase money Liens and Liens in connection with capital leases securing
Indebtedness permitted in clause (iii) of “Permitted Indebtedness”;

 

(viii) Liens
incurred in connection with Subordinated Indebtedness;

 

(ix) leasehold
interests in leases or subleases and licenses or sublicenses granted in the ordinary course of business and not interfering in any material
respect with the business of the licensor;

 

(x) Liens
in favor of customs and revenue authorities arising as a matter of law to secure payment of custom duties that are promptly paid on or
before the date they become due;

 

(xi) Liens
on insurance proceeds securing the payment of financed insurance premiums that are promptly paid on or before the date they become due
(provided that such Liens extend only to such insurance proceeds and not to any other property or assets);

 

(xii) statutory
and common law rights of set-off and other similar rights as to deposits of cash and securities in favor of banks, other depository institutions
and brokerage firms;

 

(xiii) easements,
zoning restrictions, rights-of-way and similar encumbrances on real property imposed by law or arising in the ordinary course of business
so long as they do not materially impair the value or marketability of the related property;

 

[***] Portions of this exhibit (indicated by asterisks) have been omitted
pursuant to Regulation S-K, Item 601(b)(10) and Item 601(a)(5).

 

    10

     

    

 

(xiv) (A)
Liens on Cash securing obligations permitted under clause (viii) of the definition of Permitted Indebtedness and (B) security deposits
in connection with real property leases, the combination of (A) and (B) in an aggregate amount not to exceed $250,000 at any time;

 

(xv) licenses
permitted hereunder;

 

 (xvi) any encumbrances in favor of the IIA; and

 

(xvii) Liens
incurred in connection with the extension, renewal or refinancing of the Indebtedness secured by Liens of the type described above; provided,
that any extension, renewal or replacement Lien shall be limited to the property encumbered by the existing Lien and the principal amount
of the Indebtedness being extended, renewed or refinanced (as may have been reduced by any payment thereon) does not increase except to
the extent of any premiums or penalties, accrued and unpaid interest thereon and reasonable fees and expenses associated with such extensions,
refinancing and renewals.

 

“Permitted Transfers”
means:

 

 (i) sales, transfers or dispositions of Inventory in the ordinary course of business,

 

(ii) licenses,
sublicenses and similar arrangements for the use of Intellectual Property in the ordinary course of business on arm’s length terms
that could not result in legal transfer of the licensed property that may be exclusive in respects other than territory or may be exclusive
as to territory but only as to discrete geographical areas outside of the United States of America in the ordinary course of business
(except for the Permitted Exclusive License),

 

(iii) dispositions
of worn-out, obsolete or surplus Equipment at fair market value (as reasonably determined by the Borrower) in the ordinary course of business,
and

 

(iv) other
Transfers of assets having a fair market value of not more than $500,000 in the aggregate in any fiscal year.

 

“Permitted Warrant
Transaction” means any call option, warrant or right to purchase (or substantively equivalent derivative transaction) relating
to Common Stock (or other securities or property following a merger event or other change of the Common Stock) and/or cash (in an amount
determined by reference to the price of such Common Stock) sold by Borrower substantially concurrently with any purchase by Borrower of
a related Permitted Bond Hedge Transaction and as may be amended in accordance with its terms; provided that (x) that the terms, conditions
and covenants of each such call option transaction are customary for agreements of such type, as determined in good faith by the Borrower
and (y) such call option transaction would be classified as an equity instrument in accordance with GAAP.

 

“Person”
means any individual, sole proprietorship, partnership, joint venture, trust, unincorporated organization, association, corporation, limited
liability company, institution, other entity or government.

 

“Pledge Agreement”
means the Pledge Agreement dated as of the date hereof, between the Borrower and Agent, as amended, restated, supplemented or otherwise
modified from time to time, and any other pledge agreement entered into to secure the Secured Obligations.

 

[***] Portions of this exhibit (indicated by asterisks) have been omitted
pursuant to Regulation S-K, Item 601(b)(10) and Item 601(a)(5).

 

    11

     

    

 

“Products”
means all pharmaceuticals, therapeutics, R&D platforms, products, software, service offerings, technical data or technology currently
being designed, manufactured or sold by any Loan Party or which any Loan Party intends to sell, license, or distribute in the future including
any products or service offerings under development, collectively, together with all pharmaceuticals, therapeutics, R&D platform,
products, software, service offerings, technical data or technology that have been sold, licensed or distributed by a Loan Party since
its organization.

 

“Qualified Cash”
means the amount of Borrower’s Cash held in accounts in the United States subject to an Account Control Agreement in favor of Agent.

 

“Qualified Cash
A/P Amount” means the amount of Borrower’s and its Subsidiaries’ accounts payable that have not been paid within
one hundred eighty (180) days from the invoice date of the relevant account payable.

 

“Receivables”
means (i) all of each Loan Party’s Accounts, Instruments, Documents, Chattel Paper, Supporting Obligations, letters of credit, proceeds
of any letter of credit, and Letter of Credit Rights, and (ii) all customer lists, software, and business records related thereto.

 

“Redemption Conditions”
means, with respect to any payment of cash in respect of the principal amount of any Permitted Convertible Debt, satisfaction of each
of the following events: (a) no Default or Event of Default shall exist or result therefrom, and (b) both immediately before and at all
times after such redemption, Borrower’s Qualified Cash shall be no less than 150% of the outstanding Secured Obligations.

 

“Register”
has the meaning specified in Section 11.7.

 

“Required Lenders”
means at any time, the holders of more than 50% of the sum of the aggregate unpaid principal amount of the Term Loans then outstanding.

 

“Sanctioned Country”
means, at any time, a country or territory which is the subject or target of any Sanctions.

 

“Sanctioned Person”
means, at any time, (a) any Person listed in any Sanctions-related list of designated Persons maintained by the Office of Foreign Assets
Control of the U.S. Department of the Treasury or the U.S. Department of State, or by the United Nations Security Council, the European
Union or any EU member state, (b) any Person operating, organized or resident in a Sanctioned Country or (c) any Person controlled by
any such Person.

 

“Sanctions”
means economic or financial sanctions or trade embargoes imposed, administered or enforced from time to time by (a) the U.S. government,
including those administered by the Office of Foreign Assets Control of the U.S. Department of the Treasury or the U.S. Department of
State, or (b) the United Nations Security Council, the European Union or Her Majesty’s Treasury of the United Kingdom.

 

“Secured Obligations”
means each Loan Party’s obligations under this Agreement and any Loan Document, including any obligation to pay any amount now owing
or later arising.

 

“Subordinated Indebtedness”
means Indebtedness subordinated to the Secured Obligations in amounts and on terms and conditions satisfactory to Agent in its sole discretion
and subject to a subordination agreement in form and substance satisfactory to Agent in its sole discretion. For the avoidance of doubt
Permitted Convertible Debt shall not constitute Subordinated Indebtedness.

 

“Subsequent Financing”
means the closing of any Loan Party financing which becomes effective after the Closing Date and is broadly marketed to multiple investors.

 

[***] Portions of this exhibit (indicated by asterisks) have been omitted
pursuant to Regulation S-K, Item 601(b)(10) and Item 601(a)(5).

 

    12

     

    

 

“Subsidiary”
means an entity, whether a corporation, partnership, limited liability company, joint venture or otherwise, in which any Loan Party owns
or controls, either directly or indirectly, 50% or more of the outstanding voting securities, including each entity listed on Schedule
1 hereto.

 

“Taxes”
means all present or future taxes, levies, imposts, duties, deductions, withholdings (including backup withholding), assessments, fees
or other charges imposed by any Governmental Authority, including the Israeli Income Tax Ordinance, 5721-1961, and the Israeli Value Added
Tax Law, 5735-1975, and including any interest or linkage paid in connection therewith, additions to tax or penalties applicable thereto.

 

“Term Commitment”
means as to any Lender, the obligation of such Lender, if any, to make a Term Loan Advance to a Borrower in a principal amount not to
exceed the amount set forth under the heading “Term Commitment” opposite such Lender’s name on Schedule 1.1.

 

“Term Loan Advance”
means each Tranche 1 Advance, Tranche 2 Advance, Tranche 3 Advance and any other Term Loan funds advanced under this Agreement.

 

“Term Loan Interest
Rate” means for any day a per annum rate of interest equal to the greater of either (i) the prime rate as reported in The
Wall Street Journal plus 5.70%, and (ii) 8.95%.

 

“Term Loan Maturity
Date” means initially, September 1, 2025, provided that if Performance Milestone I is achieved, such date shall be extended
to March 1, 2026, provided further, that if Performance Milestone II is achieved, such date shall be extended to September 1, 2026; provided,
in each case, that if such day is not a Business Day, the Term Loan Maturity Date shall be the immediately preceding Business Day.

 

“Trademark License”
means any written agreement granting any right to use any Trademark or Trademark registration, now owned or hereafter acquired by any
Loan Party or in which any Loan Party now holds or hereafter acquires any interest.

 

“Trademarks”
means all trademarks (registered, common law or otherwise) and any applications in connection therewith, including registrations, recordings
and applications in the United States Patent and Trademark Office or in any similar office or agency of the United States of America,
any State thereof or any other country or any political subdivision thereof.

 

“Tranche 2 Facility
Charge” means an amount equal to one half of one percent (0.5%) of the principal amount of the Tranche 2 Advance funded,
which is payable to the Lenders in accordance with Section 4.2(d).

 

“Tranche 3 Facility
Charge” means an amount equal to one half of one percent (0.5%) of the principal amount of the Tranche 3 Advance funded,
which is payable to the Lenders in accordance with Section 4.2(d).

 

“UCC”
means the Uniform Commercial Code as the same is, from time to time, in effect in the State of California; provided, that in the event
that, by reason of mandatory provisions of law, any or all of the attachment, perfection or priority of, or remedies with respect to,
Agent’s Lien on any Collateral is governed by the Uniform Commercial Code as the same is, from time to time, in effect in a jurisdiction
other than the State of California, then the term “UCC” shall mean the Uniform Commercial Code as in effect, from time to
time, in such other jurisdiction solely for purposes of the provisions thereof relating to such attachment, perfection, priority or remedies
and for purposes of definitions related to such provisions.

 

“U.S. Person”
means any Person that is a “United States person” as defined in Section 7701(a)(30) of the Code.

 

[***] Portions of this exhibit (indicated by asterisks) have been omitted
pursuant to Regulation S-K, Item 601(b)(10) and Item 601(a)(5).

 

    13

     

    

 

1.2 The
following terms are defined in the Sections or subsections referenced opposite such terms:

 

	
    Defined Term
	 	Section
	Agent	 	Preamble
	Assignee	 	11.14
	Borrower	 	Preamble
	Claims	 	11.11
	Collateral	 	3.1
	Confidential Information	 	11.13
	End of Term Charge	 	2.6
	Event of Default	 	9
	Financial Statements	 	7.1
	Guaranteed Obligations	 	12.1
	Guarantor	 	Preamble
	IIA Grants	 	5.15
	Indemnified Person	 	6.3
	Israeli Guarantee Law	 	12.2
	Israeli Insolvency Law	 	9.5
	Israeli ROC	 	4.1(f)
	Israeli Companies Law	 	11.20
	Lenders	 	Preamble
	Liabilities	 	6.3
	Maximum Rate	 	2.3
	Open Source License	 	5.10
	Participant Register	 	11.8
	Prepayment Charge	 	2.5
	Publicity Materials	 	11.19
	Register	 	11.7
	Rights to Payment	 	3.1
	Specified Disputes	 	5.10(g)
	Third Party IP	 	5.10(i)
	Tranche 1 Advance	 	2.2(a)
	Tranche 2 Advance	 	2.2(a)
	Tranche 3 Advance	 	2.2(a)

 

1.3 Unless
otherwise specified, all references in this Agreement or any Annex or Schedule hereto to a “Section,” “subsection,”
“Exhibit,” “Annex,” or “Schedule” shall refer to the corresponding Section, subsection, Exhibit, Annex,
or Schedule in or to this Agreement. Unless otherwise specifically provided herein, any accounting term used in this Agreement or the
other Loan Documents shall have the meaning customarily given such term in accordance with GAAP, and all financial computations hereunder
shall be computed in accordance with GAAP, consistently applied. Unless otherwise defined herein or in the other Loan Documents, terms
that are used herein or in the other Loan Documents and defined in the UCC shall have the meanings given to them in the UCC. For all purposes
under the Loan Documents, in connection with any division or plan of division under Delaware law (or any comparable event under a different
jurisdiction’s laws): (a) if any asset, right, obligation or liability of any Person becomes the asset, right, obligation or liability
of a different Person, then it shall be deemed to have been transferred from the original Person to the subsequent Person and (b) if any
new Person comes into existence, such new Person shall be deemed to have been organized on the first date of its existence by the holders
of its Equity Interests at such time.

 

[***] Portions of this exhibit (indicated by asterisks) have been omitted
pursuant to Regulation S-K, Item 601(b)(10) and Item 601(a)(5).

 

    14

     

    

 

1.4 Notwithstanding
anything to the contrary in this Agreement or any other Loan Document, all terms of an accounting or financial nature used herein shall
be construed, and all computations of amounts and ratios referred to herein shall be made without giving effect to any treatment of Indebtedness
in respect of convertible debt instruments under Accounting Standards Codification 470-20 (or any other Accounting Standards Codification
or Financial Accounting Standard having a similar result or effect) to value any such Indebtedness in a reduced or bifurcated manner as
described therein, and such Indebtedness shall at all times be valued at the full stated principal amount thereof. For the avoidance of
doubt, and without limitation of the foregoing, Permitted Convertible Debt shall at all times be valued at the full stated principal amount
thereof and shall not include any reduction or appreciation in value of the shares deliverable upon conversion thereof.

 

SECTION
2. THE LOAN

 

2.1 [Reserved]

 

2.2 Term
Loan.

 

(a) Advances.

 

(i) Subject
to the terms and conditions of this Agreement, the Lenders will severally (and not jointly) make in an amount not to exceed its respective
Term Commitment, and Borrower agrees to draw, a Term Loan Advance in principal amount of Fifteen Million Dollars ($15,000,000) on the
Closing Date (the “Tranche 1 Advance”).

 

(ii) Subject
to achievement of the Performance Milestone I and the terms and conditions of this Agreement, beginning on the date the Performance Milestone
I is satisfied and continuing through December 31, 2022, Borrower may request and the Lenders shall severally (and not jointly) make an
additional Term Loan Advance in a principal amount of Ten Million Dollars ($10,000,000) (the “Tranche 2 Advance”).

 

(iii) Subject
to achievement of the Performance Milestone II and the terms and conditions of this Agreement, beginning on the date the Performance Milestone
II is satisfied and continuing through September 30, 2023, Borrower may request and the Lenders shall severally (and not jointly) make
an additional Term Loan Advance, in a principal amount of Five Million Dollars ($5,000,000), (the “Tranche 3 Advance”).

 

The aggregate outstanding Term Loan Advances
shall not exceed the Maximum Term Loan Amount.

 

(b) Advance
Request. To obtain a Term Loan Advance, Borrower shall complete, sign and deliver an Advance Request (at least one (1) Business Day
before the Closing Date and at least five (5) Business Days before each Advance Date other than the Closing Date) to Agent. The Lenders
shall fund each Term Loan Advance in the manner requested by the Advance Request provided that each of the conditions precedent to such
Term Loan Advance is satisfied as of the requested Advance Date.

 

(c) Interest.

 

(i) Term
Loan Interest Rate. The principal balance shall bear interest thereon from such Advance Date in an amount equal to the product of the
outstanding Term Loan principal balance multiplied by the Term Loan Interest Rate based on a year consisting of 360 days, with interest
computed daily based on the actual number of days elapsed. The Term Loan Interest Rate will float and change on the day the prime rate
changes from time to time.

 

(ii) [Reserved]

 

[***] Portions of this exhibit (indicated by asterisks) have been omitted
pursuant to Regulation S-K, Item 601(b)(10) and Item 601(a)(5).

 

    15

     

    

 

(d) Payment.
Borrower will pay accrued but unpaid interest on each Term Loan Advance on the first Business Day of each month, beginning the month after
the Advance Date. Borrower shall repay the aggregate Term Loan principal balance that is outstanding on the day immediately preceding
the Amortization Date, in equal monthly installments of principal and interest (mortgage style) beginning on the Amortization Date and
continuing on the first Business Day of each month thereafter until the Secured Obligations (other than inchoate indemnity obligations)
are repaid. Any remaining outstanding Term Loan principal balance and all accrued but unpaid interest hereunder, shall be due and payable
on the Term Loan Maturity Date. Borrower shall make all payments under this Agreement without setoff, recoupment or deduction and regardless
of any counterclaim or defense. If a payment hereunder becomes due and payable on a day that is not a Business Day, the due date thereof
shall be the immediately preceding Business Day. The Lenders will initiate debit entries to the Borrower’s account as authorized
on the ACH Authorization (i) on each payment date of all periodic obligations payable to the Lenders under each Term Loan Advance and
(ii) out-of-pocket legal fees and costs incurred by Agent or the Lenders in connection with Section 11.12 of this Agreement; provided
that, with respect to clause (i) above, in the event that the Lenders or Agent informs Borrower that the Lenders will not initiate a debit
entry to Borrower’s account for a certain amount of the periodic obligations due on a specific payment date, Borrower shall pay
to the Lenders such amount of periodic obligations in full in immediately available funds on such payment date; provided, further, that,
with respect to clause (i) above, if the Lenders or Agent informs Borrower that the Lenders will not initiate a debit entry as described
above later than the date that is three (3) Business Days prior to such payment date, Borrower shall pay to the Lenders such amount of
periodic obligations in full in immediately available funds on the date that is three (3) Business Days after the date on which the Lenders
or Agent notifies Borrower of such; provided, further, that, with respect to clause (ii) above, in the event that the Lenders or Agent
informs Borrower that the Lenders will not initiate a debit entry to Borrower’s account for certain amount of such out-of-pocket
legal fees and costs incurred by Agent or the Lenders, Borrower shall pay to the Lenders such amount in full in immediately available
funds within three (3) Business Days.

 

2.3 Maximum
Interest. Notwithstanding any provision in this Agreement or any other Loan Document, it is the parties’ intent not to contract
for, charge or receive interest at a rate that is greater than the maximum rate permissible by law that a court of competent jurisdiction
shall deem applicable hereto (which under the laws of the State of California shall be deemed to be the laws relating to permissible rates
of interest on commercial loans) (the “Maximum Rate”). If a court of competent jurisdiction shall finally determine that Borrower
has actually paid to the Lenders an amount of interest in excess of the amount that would have been payable if all of the Secured Obligations
had at all times borne interest at the Maximum Rate, then such excess interest actually paid by Borrower shall be applied as follows:
first, to the payment of the Secured Obligations consisting of the outstanding principal; second, after all principal is repaid, to the
payment of the Lenders’ accrued interest, costs, expenses, professional fees and any other Secured Obligations; and third, after
all Secured Obligations are repaid, the excess (if any) shall be refunded to Borrower.

 

2.4 Default
Interest. In the event any payment is not paid on the scheduled payment date, an amount equal to four percent (4%) of the past due
amount shall be payable on demand. In addition, upon the occurrence and during the continuation of an Event of Default hereunder, all
Secured Obligations, including principal, interest, compounded interest, and professional fees, shall bear interest at a rate per annum
equal to the rate set forth in Section 2.2(c) plus four percent (4%) per annum. In the event any interest is not paid when due hereunder,
delinquent interest shall be added to principal and shall bear interest on interest, compounded at the rate set forth in Section 2.2(c)
or Section 2.4, as applicable.

 

2.5 Prepayment.
At its sole option upon at least seven (7) Business Days prior written notice to Agent, a Borrower (on behalf of itself and all other
Borrowers) may prepay all, but not less than all, of the outstanding Advances by paying the entire principal balance, all accrued and
unpaid interest thereon, together with a prepayment charge equal to the following percentage of the Advance amount being prepaid: with
respect to each Advance, if such Advance amounts are prepaid in any of the first twelve (12) months following the Closing Date, 3.0%;
after twelve (12) months but prior to twenty four (24) months, 2.0%; after twenty-four (24) months but prior to thirty-six (36) months,
1.0%, and thereafter the prepayment charge shall be zero (each, a “Prepayment Charge”). Borrower agrees that the Prepayment
Charge is a reasonable calculation of the Lenders’ lost profits in view of the difficulties and impracticality of determining actual
damages resulting from an early repayment of the Advances. Borrower shall prepay the outstanding amount of all principal and accrued interest
through the prepayment date and the Prepayment Charge upon the occurrence of a Change in Control or any other prepayment hereunder. Notwithstanding
the foregoing, Agent and the Lenders agree to waive the Prepayment Charge if Agent and the Lenders (in their sole and absolute discretion)
agree in writing to refinance the Advances prior to the Term Loan Maturity Date. Any amounts paid under this Section shall be applied
by Agent to the then unpaid amount of any Secured Obligations (including principal and interest) in such order and priority as Agent may
choose in its sole discretion. For the avoidance of doubt, if a payment hereunder becomes due and payable on a day that is not a Business
Day, the due date thereof shall be the immediately preceding Business Day.

 

[***] Portions of this exhibit (indicated by asterisks) have been omitted
pursuant to Regulation S-K, Item 601(b)(10) and Item 601(a)(5).

 

    16

     

    

 

2.6 End
of Term Charge. On the earliest to occur of (i) the Term Loan Maturity Date, (ii) the date that Borrower prepays the outstanding Secured
Obligations (other than any inchoate indemnity obligations and any other obligations which, by their terms, are to survive the termination
of this Agreement) in full, or (iii) the date that the Secured Obligations become due and payable, Borrower shall pay the Lenders a charge
in the amount of 6.55% of the aggregate principal amount of the Term Loan Advances made hereunder (the “End of Term Charge”).
Notwithstanding the required payment date of such End of Term Charge, the applicable pro rata portion of the End of Term Charge shall
be deemed earned by the Lenders as of each such date an applicable Term Loan Advance is made. For the avoidance of doubt, if a payment
hereunder becomes due and payable on a day that is not a Business Day, the due date thereof shall be the immediately preceding Business
Day.

 

2.7 Pro
Rata Treatment. Each payment (including prepayment) on account of any fee and any reduction of the Term Loans shall be made pro rata
according to the Term Commitments of the relevant Lender.

 

2.8 Taxes;
Increased Costs. Loan Parties, the Agent and the Lenders each hereby agree to the terms and conditions set forth on Addendum 1 attached
hereto.

 

2.9 Treatment
of Prepayment Charge and End of Term Charge. Borrower agrees that any Prepayment Charge and any End of Term Charge payable shall be
presumed to be the liquidated damages sustained by each Lender as the result of the early termination, and Borrower agrees that it is
reasonable under the circumstances currently existing and existing as of the Closing Date. The Prepayment Charge and the End of Term Charge
shall also be payable in the event the Secured Obligations (and/or this Agreement) are satisfied or released by foreclosure (whether by
power of judicial proceeding), deed in lieu of foreclosure, or by any other means. Borrower expressly waives (to the fullest extent it
may lawfully do so) the provisions of any present or future statute or law that prohibits or may prohibit the collection of the foregoing
Prepayment Charge and End of Term Charge in connection with any such acceleration. Borrower agrees (to the fullest extent that each may
lawfully do so): (a) each of the Prepayment Charge and the End of Term Charge is reasonable and is the product of an arm’s length
transaction between sophisticated business people, ably represented by counsel; (b) each of the Prepayment Charge and the End of Term
Charge shall be payable notwithstanding the then prevailing market rates at the time payment is made; (c) there has been a course of conduct
between the Lenders and Borrower giving specific consideration in this transaction for such agreement to pay the Prepayment Charge and
the End of Term Charge as a charge (and not interest) in the event of prepayment or acceleration; (d) Borrower shall be estopped from
claiming differently than as agreed to in this paragraph. Borrower expressly acknowledges that their agreement to pay each of the Prepayment
Charge and the End of Term Charge to the Lenders as herein described was on the Closing Date and continues to be a material inducement
to the Lenders to provide the Term Loans.

 

[***] Portions of this exhibit (indicated by asterisks) have been omitted
pursuant to Regulation S-K, Item 601(b)(10) and Item 601(a)(5).

 

    17

     

    

 

SECTION
3. SECURITY INTEREST

 

3.1 As
security for the prompt and complete payment when due (whether on the payment dates or otherwise) of all the Secured Obligations, each
Loan Party grants to Agent a security interest in all of such Loan Party’s right, title, and interest in, to and under all of such
Loan Party’s personal property and other assets including without limitation the following (except as set forth herein) whether
now existing or hereafter acquired (collectively, the “Collateral”): (a) Receivables; (b) Equipment; (c) Fixtures;
(d) General Intangibles (other than Intellectual Property); (e) Inventory; (f) Investment Property; (g) Deposit Accounts; (h) Cash; (i)
Goods; and (j) all other tangible and intangible personal property (other than Intellectual Property) of such Loan Party whether now or
hereafter owned or existing, leased, consigned by or to, or acquired by, such Loan Party and wherever located, and any of such Loan Party’s
property in the possession or under the control of Agent; and, to the extent not otherwise included, all Proceeds of each of the foregoing
and all accessions to, substitutions and replacements for, and rents, profits and products of each of the foregoing; provided,
however, that the Collateral shall include all Accounts and General Intangibles that consist of rights to payment and proceeds from the
sale, licensing or disposition of all or any part, or rights in, the Intellectual Property (the “Rights to Payment”). Notwithstanding
the foregoing, if a judicial authority (including a U.S. Bankruptcy Court) holds that a security interest in the underlying Intellectual
Property is necessary to have a security interest in the Rights to payment, then the Collateral shall automatically, and effective as
of the date of this Agreement, include the Intellectual Property to the extent necessary to permit perfection of Agent’s security
interest in the Rights to Payment.

 

3.2 Notwithstanding
the broad grant of the security interest set forth in Section 3.1, above, the Collateral shall not include any Excluded Assets.

 

3.3 The
lien and security interest created hereunder shall be automatically released (a) with respect to all Collateral upon the payment in full
of all Secured Obligations in accordance with this Agreement (other than inchoate indemnity obligations and any other obligations which,
by their terms, are to survive the termination of this Agreement), (b) with respect to other Intellectual Property licensed under an exclusive
license permitted under the terms of this Agreement, to the extent such counterparty requests such release, or (c) if otherwise approved,
authorized or ratified in writing by Agent in its sole discretion. Upon such release, Agent shall, upon the reasonable request and at
the sole cost and expense of Borrower, assign, transfer and deliver to Borrower, against receipt and without recourse to or warranty by
Agent, except as to the fact that Agent does not continue to encumber the released assets, such Collateral or any part thereof, which
shall be released in accordance with customary documents and instruments (including UCC-3 termination financing statements or releases)
acknowledging the release of such Collateral.

 

SECTION
4. CONDITIONS PRECEDENT TO LOAN

 

The obligations of the Lenders to make the Loan
hereunder are subject to the satisfaction by Borrower of the following conditions:

 

4.1 Initial
Advance. On or prior to the Closing Date, Borrower shall have delivered to Agent the following:

 

(a) executed
copies of the Loan Documents, Account Control Agreements, together with copies of all executed closing deliverables required pursuant
to the terms thereof, and all other documents and instruments reasonably required by Agent to effectuate the transactions contemplated
hereby or to create and perfect the Liens of Agent with respect to all Collateral, in all cases in form and substance reasonably acceptable
to Agent;

 

(b) a
legal opinion of Borrower’s US counsel in form and substance reasonably acceptable to Agent, and a legal opinion of Loan Parties’
Israeli counsel;

 

[***] Portions of this exhibit (indicated by asterisks) have been omitted
pursuant to Regulation S-K, Item 601(b)(10) and Item 601(a)(5).

 

    18

     

    

 

(c) certified
copy of resolutions of each Loan Party’s board of directors evidencing approval of (i) the Loan and other transactions evidenced
by the Loan Documents;

 

(d) certified
copies of the Certificate of Incorporation, the Bylaws, and the Articles of Association (as applicable), as amended through the Closing
Date, of each Loan Party;

 

(e) a
certificate of good standing (or foreign equivalent or insolvency search, as applicable) for each Loan Party from its jurisdiction of
organization and similar certificates from all other jurisdictions in which it does business and where the failure to be qualified could
have a Material Adverse Effect;

 

(f) evidence
of release of all existing liens over assets of each Guarantor registered with the Israeli Registrar of Companies (“Israeli ROC”);

 

(g) payment
of the Initial Facility Charge and reimbursement of Agent’s and the Lenders’ current expenses reimbursable pursuant to this
Agreement, which amounts may be deducted from the initial Advance;

 

(h) all
certificates of insurance and copies of each insurance policy required hereunder; and

 

(i) four
original copies of Forms 10 of the Israeli ROC, executed by an officer of each Guarantor, as applicable;

 

(j) copies
of each filed ISR Security Document, together with all executed closing deliverables required pursuant to the terms thereof with the “received”
stamp from the Israeli ROC, and the Israeli ROC certificates of registration of the pledges pursuant to the ISR Security Documents;

 

(k) evidence
of the filing of a pledge with the Israeli Registrar of Pledges, together with evidence of registration of the pledge over Parent’s
title in BIOMX ISR in accordance with Section 3.1;

 

(l) evidence
of removal of “violating company” warning from each Guarantor’s files with the Israeli ROC; and

 

(m) such
other documents as Agent may reasonably request.

 

4.2 All
Advances. On each Advance Date:

 

(a) Agent
shall have received (i) an Advance Request for the relevant Advance as required by Section 2.2(b), each duly executed by Borrower’s
Chief Executive Officer or Chief Financial Officer, and (ii) any other documents Agent may reasonably request; and

 

(b) the
representations and warranties set forth in this Agreement shall be true and correct in all material respects on and as of the Advance
Date with the same effect as though made on and as of such date, except to the extent such representations and warranties expressly relate
to an earlier date; and

 

(c) the
Loan Parties shall be in compliance with all the terms and provisions set forth herein and in each other Loan Document on its part to
be observed or performed, and at the time of and immediately after such Advance no Event of Default shall have occurred and be continuing;
and

 

(d) with
respect to any Tranche 2 Advance or Tranche 3 Advance, the Loan Parties shall have paid the Tranche 2 Facility Charge or Tranche 3 Facility
Charge, as applicable; and

 

[***] Portions of this exhibit (indicated by asterisks) have been omitted
pursuant to Regulation S-K, Item 601(b)(10) and Item 601(a)(5).

 

    19

     

    

 

(e) each
Advance Request shall be deemed to constitute a representation and warranty by Borrower on the relevant Advance Date as to the matters
specified in paragraphs (b) and (c) of this Section 4.2 and as to the matters set forth in the Advance Request.

 

4.3 No
Default. As of the Closing Date and each Advance Date, (i) no fact or condition exists that could (or could, with the passage of time,
the giving of notice, or both) constitute an Event of Default and (ii) no event that has had or would reasonably be expected to have a
Material Adverse Effect has occurred and is continuing.

 

4.4 Post-Closing
Deliveries. Loan Parties shall deliver the documents or satisfy the conditions, as applicable, in accordance with Schedule 4.4 hereto.

 

SECTION
5. REPRESENTATIONS AND WARRANTIES OF the Loan Parties

 

Each Loan Party represents and warrants that:

 

5.1 Corporate
Status. Each Loan Party is duly organized, legally existing and in good standing under the laws its state of incorporation, and is
duly qualified as a foreign corporation in all jurisdictions in which the nature of its business or location of its properties require
such qualifications and where the failure to be qualified would reasonably be expected to have a Material Adverse Effect. No Guarantor
has been warned to be or declared a “violating company” with the Israeli ROC. Each Loan Party’s present name, former names
(if any), locations, place of formation, Tax identification number, organizational identification number and other information are correctly
set forth in Exhibit B, as may be updated by the Loan Parties in a written notice (including any Compliance Certificate) provided to Agent
after the Closing Date.

 

5.2 Collateral.
Each Loan Party owns the Collateral and the Intellectual Property, free of all Liens, except for Permitted Liens. Each Loan Party has
the power and authority to grant to Agent a Lien in the Collateral as security for the Secured Obligations.

 

5.3 Consents.
Each Loan Party’s execution, delivery and performance of this Agreement and all other Loan Documents, (i) have been duly authorized
by all necessary corporate action of such Loan Party, (ii) will not result in the creation or imposition of any Lien upon the Collateral,
other than Permitted Liens and the Liens created by this Agreement and the other Loan Documents, (iii) do not violate any provisions of
such Loan Party’s Certificate or Articles of Incorporation (as applicable), bylaws, Articles of Association (as applicable) or any,
law, regulation, order, injunction, judgment, decree or writ to which such Loan Party is subject and (iv) except as described on
Schedule 5.3, do not violate any material contract or material agreement or require the consent or approval of any other Person which
has not already been obtained. The individual or individuals executing the Loan Documents are duly authorized to do so.

 

5.4 Material
Adverse Effect. No event that has had or would reasonably be expected to have a Material Adverse Effect has occurred and is continuing.
No Loan Party is aware of any event likely to occur that is reasonably expected to result in a Material Adverse Effect.

 

5.5 Actions
Before Governmental Authorities. There are no actions, suits or proceedings at law or in equity or by or before any Governmental Authority
now pending or, to the knowledge of any Loan Party, threatened in writing against or affecting any Loan Party or its property, that is
reasonably expected to result in a Material Adverse Effect.

 

5.6 Laws.

 

(a) No
Loan Party nor any of its Subsidiaries is in violation of any law, rule or regulation, or in default with respect to any judgment, writ,
injunction or decree of any Governmental Authority, where such violation or default would reasonably be expected to result in a Material
Adverse Effect. No Loan Party is in default in any material manner under any provision of any agreement or instrument evidencing material
Indebtedness, or any other material agreement to which it is a party or by which it is bound.

 

[***] Portions of this exhibit (indicated by asterisks) have been omitted
pursuant to Regulation S-K, Item 601(b)(10) and Item 601(a)(5).

 

    20

     

    

 

(b) No
Loan Party nor any of its Subsidiaries is required to register as an “investment company” or a company “controlled”
by an “investment company” under the Investment Company Act of 1940, as amended. No Loan Party nor any of its Subsidiaries
is engaged as one of its important activities in extending credit for margin stock (under Regulations X, T and U of the Federal Reserve
Board of Governors). Each Loan Party with activities in the United States has complied in all material respects with the Federal Fair
Labor Standards Act. No Loan Party nor any of its Subsidiaries is a “holding company” or an “affiliate” of a “holding
company” or a “subsidiary company” of a “holding company” as each term is defined and used in the Public
Utility Holding Company Act of 2005. No Loan Party’s nor any of its Subsidiaries’ properties or assets has been used by such
Loan Party or such Subsidiary or, to any Loan Party’s knowledge, by previous Persons, in disposing, producing, storing, treating,
or transporting any hazardous substance other than in material compliance with applicable laws. Each Loan Party and each of its Subsidiaries
has obtained all material consents, approvals and authorizations of, made all declarations or filings with, and given all notices to,
all Governmental Authorities that are necessary to continue their respective businesses as currently conducted.

 

(c) No
Loan Party, any of its Subsidiaries, or to any Loan Party’s knowledge any of its Subsidiaries’ Affiliates or any of their
respective agents acting or benefiting in any capacity in connection with the transactions contemplated by this Agreement is (i) in violation
of any Anti Terrorism Law, (ii) engaging in or conspiring to engage in any transaction that evades or avoids, or has the purpose of evading
or avoiding or attempts to violate, any of the prohibitions set forth in any Anti Terrorism Law, or (iii) is a Blocked Person. No Loan
Party, any of its Subsidiaries, or to the knowledge of any Loan Party, any of their Affiliates or agents, acting or benefiting in any
capacity in connection with the transactions contemplated by this Agreement, (x) conducts any business or engages in making or receiving
any contribution of funds, goods or services to or for the benefit of any Blocked Person, or (y) deals in, or otherwise engages in any
transaction relating to, any property or interest in property blocked pursuant to Executive Order No. 13224, any similar executive order
or other Anti Terrorism Law. None of the funds to be provided under this Agreement will be used, directly or indirectly, (a) for any activities
in violation of any applicable anti-money laundering, economic sanctions and anti-bribery laws and regulations laws and regulations or
(b) for any payment to any governmental official or employee, political party, official of a political party, candidate for political
office, or anyone else acting in an official capacity, in order to obtain, retain or direct business or obtain any improper advantage,
in violation of the United States Foreign Corrupt Practices Act of 1977, as amended.

 

5.7 Information
Correct and Current. No written information, report, Advance Request, financial statement, exhibit or schedule furnished, by or on
behalf of any Loan Party to Agent in connection with any Loan Document or included therein or delivered pursuant thereto contained, or,
when taken as a whole, contains or will contain any material misstatement of fact or, when taken together with all other such written
information or documents, omitted, omits or will omit to state any material fact necessary to make the statements therein, in the light
of the circumstances under which they were, are or will be made, not materially misleading at the time such statement was made or deemed
made. Additionally, any and all financial or business projections provided by the Loan Parties to Agent, whether prior to or after the
Closing Date, shall be (i) provided in good faith and based on the most current data and information available to the Loan Parties, and
(ii) the most current of such projections provided to Borrower’s board of directors (it being understood that such projections are
subject to significant uncertainties and contingencies, many of which are beyond the control of the Loan Parties, that no assurance is
given that any particular projections will be realized, that actual results may differ).

 

5.8 Tax
Matters. Except as described on Schedule 5.8, (a) Borrower and its Subsidiaries have filed all federal and state income Tax returns
and other material Tax returns that they are required to file, (b) Borrower and its Subsidiaries have duly paid all federal and state
income Taxes and other material Taxes or installments thereof that they are required to pay, except Taxes being contested in good faith
by appropriate proceedings and for which Borrower and its Subsidiaries maintain adequate reserves in accordance with GAAP, and (c) to
the best of Borrower’s knowledge, no proposed or pending Tax assessments, deficiencies, audits or other proceedings with respect
to Borrower or any Subsidiary have had, or would reasonably be expected to have, individually or in the aggregate, a Material Adverse
Effect.

 

[***] Portions of this exhibit (indicated by asterisks) have been omitted
pursuant to Regulation S-K, Item 601(b)(10) and Item 601(a)(5).

 

    21

     

    

 

5.9 Intellectual
Property Claims. The Loan Parties are the sole owner of, or otherwise have the right to use, the Intellectual Property material to
their business. Except as described on Schedule 5.9, (i) each of the material Copyrights, Trademarks and Patents is valid and enforceable,
(ii) no material part of the Intellectual Property has been judged invalid or unenforceable, in whole or in part, and (iii) no claim has
been made to a Loan Party that any material part of the Intellectual Property violates the rights of any third party. Exhibit C is
a true, correct and complete list of each of the Loan Parties’ Patents, registered Trademarks, registered Copyrights, and material
agreements under which a Loan Party licenses Intellectual Property from third parties (other than shrink-wrap software licenses), together
with application or registration numbers, as applicable, owned by a Loan Party, in each case as of the Closing Date. The Loan Parties
are not in material breach of, nor have the Loan Parties failed to perform any material obligations under, any of the foregoing contracts,
licenses or agreements and, to Borrower’s knowledge, no third party to any such contract, license or agreement is in material breach
thereof or has failed to perform any material obligations thereunder.

 

5.10 Intellectual
Property

 

(a) The
Loan Parties have all material rights with respect to Intellectual Property necessary or material in the operation or conduct of their
business as currently conducted and proposed to be conducted by the Loan Parties. Without limiting the generality of the foregoing, and
in the case of material licenses, except for restrictions that are unenforceable under Division 9 of the UCC or other applicable law,
the Loan Parties have the right, to the extent required to operate their business, to freely transfer, license or assign Intellectual
Property necessary or material in the operation or conduct of their business as currently conducted and currently proposed to be conducted
by them, without condition, restriction or payment of any kind (other than license payments in the ordinary course of business) to any
third party, and the Loan Parties, to the Loan Parties’ knowledge own or have the right to use, pursuant to valid licenses, all
software development tools, library functions, compilers and all other third-party software that are material to their business and used
in the design, development, promotion, sale, license, manufacture, import, export, use or distribution of Products except customary covenants
in inbound license agreements and equipment leases where a Loan Party is the licensee or lessee.

 

(b) No
material software or other materials used by any Loan Party (or used in any Products or any Subsidiaries’ products) are subject
to an open-source or similar license (including but not limited to the General Public License, Lesser General Public License, Mozilla
Public License, or Affero License) (collectively, “Open Source Licenses”) in a manner that would cause such software or other
materials to have to be (i) distributed to third parties at no charge or a minimal charge (royalty-free basis); (ii) licensed to third
parties to modify, make derivative works based on, decompile, disassemble, or reverse engineer; or (iii) used in a manner that does could
require disclosure or distribution in source code form.

 

5.11 Products.
Except as described on Schedule 5.11, no Intellectual Property owned by a Loan Party or Product has been or is subject to any actual or,
to the knowledge of Loan Parties, threatened litigation, proceeding (including any proceeding in the United States Patent and Trademark
Office or any corresponding foreign office or agency) or outstanding decree, order, judgment, settlement agreement or stipulation that
restricts in any manner any Loan Party’s use, transfer or licensing thereof or that may affect the validity, use or enforceability
thereof. There is no decree, order, judgment, agreement, stipulation, arbitral award or other provision entered into in connection with
any litigation or proceeding that obligates any Loan Party to grant licenses or ownership interest in any future Intellectual Property
related to the operation or conduct of the business of Loan Parties or Products. No Loan Party has received any written notice or claim,
or, to the knowledge of Loan Parties, oral notice or claim, challenging or questioning any Loan Party’s ownership in any Intellectual
Property (or written notice of any claim challenging or questioning the ownership in any licensed Intellectual Property of the owner thereof)
or suggesting that any third party has any claim of legal or beneficial ownership with respect thereto nor, to Loan Parties’ knowledge,
is there a reasonable basis for any such claim. To the Loan Parties’ knowledge, neither the Loan Parties’ use of its Intellectual
Property nor the production and sale of Products materially infringes the Intellectual Property or other rights of others.

 

[***] Portions of this exhibit (indicated by asterisks) have been omitted
pursuant to Regulation S-K, Item 601(b)(10) and Item 601(a)(5).

 

    22

     

    

 

5.12 Financial
Accounts. Exhibit D, as may be updated by the Loan Parties in a written notice provided to Agent after the Closing Date, is a true,
correct and complete list of (a) all banks and other financial institutions at which any Loan Party or any Subsidiary maintains Deposit
Accounts and (b) all institutions at which any Loan Party or any Subsidiary maintains an account holding Investment Property, and such
exhibit correctly identifies the name, address and telephone number of each bank or other institution, the name in which the account is
held, a description of the purpose of the account, and the complete account number therefor.

 

5.13 Employee
Loans. No Loan Party has outstanding loans to any employee, officer or director of such Loan Party nor has any Loan Party guaranteed
the payment of any loan made to an employee, officer or director of such Loan Party by a third party, except as permitted by the Loan
Documents.

 

5.14 Capitalization
and Subsidiaries. The Loan Parties do not own any stock, partnership interest or other securities of any Person, except for Permitted
Investments. Attached as Schedule 5.14, as may be updated by the Loan Parties in a written notice provided after the Closing Date, is
a true, correct and complete list of each Subsidiary.

 

5.15 The
Israel Innovation Authority and Investment Center. As of the Closing Date, no Loan Party has received any grants, funds or benefits
(including, but not limited to, tax benefits) from the IIA (formerly known as, the Office of Chief Scientist) or Investment Center, or
the Binational Industrial Research and Development Foundation or any other Governmental Authority (“IIA Grants”) except
as provided in Schedule 5.15. No Loan Party is obligated to pay any royalties or any other payments to the IIA or Investment Center or
the Binational Industrial Research and Development Foundation or any other Governmental Authority, except as provided in Schedule 5.15.
The transactions contemplated under this Agreement, and any other Loan Document are not subject to any right and do not require the approval
of the Israel Innovation Authority or Investment Center or the Binational Industrial Research and Development Foundation or any other
Governmental Authority, except as provided in Schedule 5.15.

 

SECTION
6. INSURANCE; INDEMNIFICATION

 

6.1 Coverage.
The Loan Parties shall cause to be carried and maintained commercial general liability insurance, on an occurrence form, against risks
customarily insured against in Loan Parties’ line of business. Such risks shall include the risks of bodily injury, including death,
property damage, personal injury, advertising injury, and contractual liability per the terms of the indemnification agreement found in
Section 6.3. The Loan Parties must maintain a minimum of $2,000,000 (or foreign currency equivalent, if applicable) of commercial
general liability insurance for each occurrence. The Loan Parties have and agree to maintain a minimum of $2,000,000 of directors’
and officers’ insurance for each occurrence and $5,000,000 in the aggregate. So long as there are any Secured Obligations outstanding,
the Loan Parties shall also cause to be carried and maintained insurance upon the Collateral other than therapeutic stock and raw materials,
insuring against all risks of physical loss or damage howsoever caused, in an amount not less than the full replacement cost of the Collateral,
provided that such insurance may be subject to standard exceptions and deductibles. If Borrower fails to obtain the insurance called for
by this Section 6.1 or fails to pay any premium thereon or fails to pay any other amount which Borrower is obligated to pay under this
Agreement or any other Loan Document or which may be required to preserve the Collateral, Agent may obtain such insurance or make such
payment, and all amounts so paid by Agent are immediately due and payable, bearing interest at the then highest rate applicable to the
Secured Obligations, and secured by the Collateral.  Agent will make reasonable efforts to provide Borrower with notice of Agent
obtaining such insurance at the time it is obtained or within a reasonable time thereafter.  No payments by Agent are deemed an agreement
to make similar payments in the future or Agent’s waiver of any Event of Default.

 

[***] Portions of this exhibit (indicated by asterisks) have been omitted
pursuant to Regulation S-K, Item 601(b)(10) and Item 601(a)(5).

 

    23

     

    

 

6.2 Certificates.
The Loan Parties shall deliver to Agent certificates of insurance that evidence their compliance with its insurance obligations in Section 6.1
and the obligations contained in this Section 6.2. The Loan Parties’ insurance certificate shall state Agent (shown as “Hercules
Capital, Inc., as Agent”) is an additional insured for commercial general liability, a lenders loss payable for all risk property
damage insurance, subject to the insurer’s approval, and a lenders loss payable for property insurance and additional insured for
liability insurance for any future insurance that the Loan Parties may acquire from such insurer. Attached to the certificates of insurance
will be additional insured endorsements for liability and lender’s loss payable endorsements for all risk property damage insurance.
All certificates of insurance will provide for a minimum of thirty (30) days advance written notice to Agent of cancellation (other than
cancellation for non-payment of premiums, for which ten (10) days’ advance written notice shall be sufficient). Any failure of Agent
to scrutinize such insurance certificates for compliance is not a waiver of any of Agent’s rights, all of which are reserved. The
Loan Parties shall provide Agent with copies of each insurance policy other than any director’s and officer’s insurance policies
of the Loan Parties, and upon entering or amending any insurance policy required hereunder, Loan Parties shall provide Agent with copies
of such policies and shall promptly deliver to Agent updated insurance certificates with respect to such policies.

 

6.3 Indemnity.
Each Loan Party agrees to indemnify and hold Agent, the Lenders and their officers, directors, employees, agents, in-house attorneys,
representatives and shareholders (each, an “Indemnified Person”) harmless from and against any and all claims, costs, expenses,
damages and liabilities (including such claims, costs, expenses, damages and liabilities based on liability in tort, including strict
liability in tort), including reasonable attorneys’ fees and disbursements and other costs of investigation or defense (including
those incurred upon any appeal) (collectively, “Liabilities”), that may be instituted or asserted against or incurred by such
Indemnified Person as the result of credit having been extended, suspended or terminated under this Agreement and the other Loan Documents
or the administration of such credit, or in connection with or arising out of the transactions contemplated hereunder and thereunder,
or any actions or failures to act in connection therewith, or arising out of the disposition or utilization of the Collateral, excluding
in all cases Liabilities to the extent resulting solely from any Indemnified Person’s gross negligence or willful misconduct. This
Section 6.3 shall not apply with respect to Taxes other than any Taxes that represent losses, claims, damages, etc. arising from any non-Tax
claim. In no event shall any Indemnified Person be liable on any theory of liability for any special, indirect, consequential or punitive
damages (including any loss of profits, business or anticipated savings). This Section 6.3 shall survive the repayment of indebtedness
under, and otherwise shall survive the expiration or other termination of, this Agreement.

 

SECTION
7. COVENANTS OF the Loan Parties

 

Each Loan Party agrees as follows:

 

7.1 Financial
Reports. The Loan Parties shall furnish to Agent the financial statements and reports listed hereinafter (the “Financial
Statements”):

 

(a) as
soon as practicable (and in any event within thirty (30) days) after the end of each month, unaudited interim and year-to-date financial
statements of the Borrower as of the end of such month (prepared on a consolidated basis, if applicable), including balance sheet and
related statements of income and cash flows accompanied by a report detailing any material contingencies (including the commencement of
any material litigation by or against any Loan Party) or any other occurrence that could reasonably be expected to have a Material Adverse
Effect, all certified by Borrower’s Chief Executive Officer, Chief Financial Officer, principal accounting officer or any other
duly authorized officer or director to the effect that they have been prepared in accordance with GAAP, except (i) for the absence of
footnotes, (ii) that they are subject to normal year end adjustments, and (iii) they do not contain certain non-cash items that are customarily
included in quarterly and annual financial statements;

 

[***] Portions of this exhibit (indicated by asterisks) have been omitted
pursuant to Regulation S-K, Item 601(b)(10) and Item 601(a)(5).

 

    24

     

    

 

(b) within
forty-five (45) days after the end of each fiscal quarter, unaudited interim and year-to-date financial statements as of the end of such
calendar quarter (prepared on a consolidated basis), including balance sheet and related statements of income and cash flows accompanied
by a report detailing any material contingencies (including the commencement of any material litigation by or against any Loan Party),
certified by Borrower’s Chief Executive Officer or Chief Financial Officer to the effect that they have been prepared in accordance
with GAAP, except (i) for the absence of footnotes, and (ii) that they are subject to normal year end adjustments;

 

(c) within
ninety (90) days after the end of each fiscal year, unqualified (other than a going concern qualification or limitation), audited financial
statements as of the end of such year (prepared on a consolidated basis), including balance sheet and related statements of income and
cash flows, and setting forth in comparative form the corresponding figures for the preceding fiscal year, certified by a firm of independent
certified public accountants selected by Borrower and reasonably acceptable to Agent, accompanied by any management report from such accountants;

 

(d)
as soon as practicable (and in any event within 30 days) after the end of each month, a Compliance Certificate in the form of Exhibit
E;

 

(e) as
soon as practicable (and in any event within 30 days) after the end of each month, a report showing agings of accounts receivable and
accounts payable;

 

(f)  promptly
after the sending or filing thereof, as the case may be, copies of any proxy statements, financial statements or reports that Borrower
has made available to holders of its preferred stock and copies of any regular, periodic and special reports or registration statements
that Borrower files with the Securities and Exchange Commission or any Governmental Authority that may be substituted therefor, or any
national securities exchange;

 

(g) as
soon as practicable (and in any event within 60 days) following receipt of any new IIA Grants, a list of any such new IIA Grant;

 

(h) financial
and business projections promptly following their approval by Borrower’s board of directors, and in any event, no later than 60
days after to the end of Borrower’s fiscal year, as well as budgets, operating plans and other financial information reasonably
requested by Agent;

 

(i) immediate
notice if any Loan Party or any Subsidiary has knowledge that any Loan Party, or any Subsidiary or Affiliate of any Loan Party, is listed
on the OFAC Lists or (a) is convicted on, (b) pleads nolo contendere to, (c) is indicted on, or (d) is arraigned
and held over on charges involving money laundering or predicate crimes to money laundering.

 

No Loan Party shall (without the consent
of Agent, such consent not to be unreasonably withheld or delayed), make any change in its (a) accounting policies or reporting practices,
except as required by GAAP or (b) fiscal years or fiscal quarters. The fiscal year of each Loan Party shall end on December 31.

 

The executed Compliance
Certificate, and all Financial Statements required to be delivered pursuant to clauses (a), (b), (c) and (d) shall be sent via
e-mail to financialstatements@htgc.com with a copy to legal@htgc.com, jbourque@htgc.com and ksegien@htc.com; provided, that if e-mail
is not available or sending such Financial Statements via e-mail is not possible, they shall be faxed to Agent at: (650) 473-9194, attention
Account Manager: BiomX Inc.

 

Notwithstanding the
foregoing, documents required to be delivered under Sections 7.1(a), (b), (c) or (f) (to the extent any such documents are included in
materials otherwise filed with the SEC) may be delivered electronically and if so delivered, shall be deemed to have been delivered on
the date on which Borrower files such documents with the SEC and such documents are publicly available on the SEC’s EDGAR filing
system or any successor thereto, provided, however, for any such documents other than the documents required to be delivered under
Sections 7.1(b) and (c), Borrower shall promptly notify Agent in writing (which may be by electronic mail) of the filing of any such documents
with the SEC.

 

[***] Portions of this exhibit (indicated by asterisks) have been omitted
pursuant to Regulation S-K, Item 601(b)(10) and Item 601(a)(5).

 

    25

     

    

 

7.2 Management
Rights. The Loan Parties shall permit any representative that Agent or the Lenders authorizes, including its attorneys and accountants,
to inspect the Collateral and examine and make copies and abstracts of the books of account and records of the Loan Parties at reasonable
times and upon reasonable notice during normal business hours; provided, however, that so long as no Event of Default has occurred
and is continuing, such examinations shall be limited to no more often than once per fiscal year. In addition, any such representative
shall have the right to meet with management and officers of the Loan Parties to discuss such books of account and records. In addition,
Agent or the Lenders shall be entitled at reasonable times and intervals to consult with and advise the management and officers of the
Loan Parties concerning significant business issues affecting the Loan Parties. Such consultations shall not unreasonably interfere with
the Loan Parties’ business operations. The parties intend that the rights granted Agent and the Lenders shall constitute “management
rights” within the meaning of 29 C.F.R. Section 2510.3-101(d)(3)(ii), but that any advice, recommendations or participation by Agent
or the Lenders with respect to any business issues shall not be deemed to give Agent or the Lenders, nor be deemed an exercise by Agent
or the Lenders of, control over the Loan Parties’ management or policies, and the Loan Parties shall have no obligation to act upon
or follow any such advice or recommendation.

 

7.3 Further
Assurances. Each Loan Party shall from time to time execute, deliver and file, alone or with Agent, any financing statements, security
agreements, collateral assignments, notices, control agreements, promissory notes or other documents to perfect, give the highest priority
to Agent’s Lien on the Collateral or otherwise evidence Agent’s rights herein. Any Loan Party shall from time to time procure
any instruments or documents as may be reasonably requested by Agent, and take all further action that may be necessary, or that Agent
may reasonably request, to perfect and protect the Liens granted hereby and thereby. In addition, and for such purposes only, each Loan
Party hereby authorizes Agent to execute and deliver on its behalf and to file such financing statements, collateral assignments, notices,
control agreements, security agreements and other documents without the signature of the Loan Parties either in Agent’s name or
in the name of Agent as agent and attorney-in-fact for the Loan Parties. Each Loan Party shall protect and defend its title to the Collateral
and Agent’s Lien thereon against all Persons claiming any interest adverse to such Loan Party or Agent other than Permitted Liens.

 

7.4 Indebtedness.
No Loan Party shall create, incur, assume, guarantee or be or remain liable with respect to any Indebtedness, or permit any Subsidiary
so to do, other than Permitted Indebtedness, or prepay any Indebtedness or take any actions which impose on any Loan Party an obligation
to prepay any Indebtedness, except for (a) the conversion of Indebtedness into equity securities and the payment of cash in lieu of fractional
shares in connection with such conversion, (b) in connection with refinancing or replacement of Permitted Indebtedness, (c) purchase money
Indebtedness pursuant to its then-applicable payment schedule, (d) prepayment by any Subsidiary of (i) inter-company Indebtedness owed
by such Subsidiary to any Loan Party, or (ii) if such Subsidiary is not a Loan Party, intercompany Indebtedness owed by such Subsidiary
to another Subsidiary that is not a Loan Party or (e) as otherwise permitted hereunder or approved in writing by Agent.

 

[***] Portions of this exhibit (indicated by asterisks) have been omitted
pursuant to Regulation S-K, Item 601(b)(10) and Item 601(a)(5).

 

    26

     

    

 

Notwithstanding anything
to the contrary in the foregoing, the issuance of, performance of obligations under (including any payments of interest), and conversion,
exercise, repurchase, redemption (including, for the avoidance of doubt, a required repurchase in connection with the redemption of Permitted
Convertible Debt upon satisfaction of a condition related to the stock price of the Common Stock), settlement or early termination or
cancellation of (whether in whole or in part and including by netting or set-off) (in each case, whether in cash, Common Stock, following
a merger event or other change of the Common Stock, other securities or property), or the satisfaction of any condition that would permit
or require any of the foregoing, any Permitted Convertible Debt shall not constitute a prepayment of Indebtedness by Borrower for the
purposes of this Section 7.4; provided that principal payments in cash (other than cash in lieu of fractional shares) shall only be allowed
if the Redemption Conditions are satisfied in respect of such payment and at all times after such payment; provided further that, to the
extent both (a) the aggregate amount of cash payable upon conversion or payment of any Permitted Convertible Debt (excluding any required
payment of interest with respect to such Permitted Convertible Debt and excluding any payment of cash in lieu of a fractional share due
upon conversion thereof) exceeds the aggregate principal amount thereof and (b) such conversion or payment does not trigger or correspond
to an exercise or early unwind or settlement of a corresponding portion of the Permitted Bond Hedge Transactions relating to such Permitted
Convertible Debt (including, for the avoidance of doubt, the case where there is no Bond Hedge Transaction relating to such Permitted
Convertible Debt), the payment of such excess cash shall not be permitted by the preceding sentence.

 

Notwithstanding the
foregoing, Borrower may repurchase, exchange or induce the conversion of Permitted Convertible Debt by delivery of shares of Common Stock
and/or a different series of Permitted Convertible Debt and/or by payment of cash (in an amount that does not exceed the proceeds received
by Borrower from the substantially concurrent issuance of Common Stock and/or Permitted Convertible Debt plus the net cash proceeds, if
any, received by Borrower pursuant to the related exercise or early unwind or termination of the related Permitted Bond Hedge Transactions
and Permitted Warrant Transactions, if any, pursuant to the immediately following proviso); provided that, substantially concurrently
with, or a commercially reasonable period of time before or after, the related settlement date for the Permitted Convertible Debt that
is so repurchased, exchanged or converted, Borrower shall exercise or unwind or terminate early (whether in cash, shares or any combination
thereof) the portion of the Permitted Bond Hedge Transactions and Permitted Warrant Transactions, if any, corresponding to such Permitted
Convertible Debt that are so repurchased, exchanged or converted.

 

7.5 Collateral.
Each Loan Party shall at all times keep the Collateral, the Intellectual Property and all other property and assets used in the Loan Parties’
business or in which the Loan Parties now or hereafter holds any interest free and clear from any Liens whatsoever (except for Permitted
Liens), and shall give Agent prompt written notice of any legal process that is reasonably likely to result in damages, expenses or liabilities
in excess of $500,000 affecting the Collateral, the Intellectual Property, such other property and assets, or any Liens thereon. No Loan
Party shall agree with any Person other than Agent or the Lenders not to encumber its property other than (a) any agreements governing
any purchase money Liens or capital lease obligations otherwise permitted hereby (in which case, any prohibition or limitation shall only
be effective against the assets financed thereby) and (b) customary restrictions on the assignment of leases, licenses and other agreements.
No Loan Party shall enter into or suffer to exist or become effective any agreement that prohibits or limits the ability of any Loan Party
to create, incur, assume or suffer to exist any Lien upon any of its property (including Intellectual Property), whether now owned or
hereafter acquired, to secure its obligations under the Loan Documents to which it is a party other than (a) this Agreement and the other
Loan Documents, (b) any agreements governing any purchase money Liens or capital lease obligations otherwise permitted hereby (in which
case, any prohibition or limitation shall only be effective against the assets financed thereby) and (c) customary restrictions on the
assignment of leases, licenses and other agreements. Each Loan Party shall cause its Subsidiaries to protect and defend such Subsidiary’s
title to its assets from and against all Persons claiming any interest adverse to such Subsidiary, and each Loan Party shall cause its
Subsidiaries at all times to keep such Subsidiary’s property and assets free and clear from or Liens whatsoever (except for Permitted
Liens), and shall give Agent prompt written notice of any legal process affecting such Subsidiary’s property and assets that is
reasonably likely to result in damages, expenses or liabilities in excess of $500,000.

 

7.6 Investments.
No Loan Party shall directly or indirectly acquire or own, or make any Investment in or to any Person, or permit any of its Subsidiaries
to do so, other than Permitted Investments.

 

[***] Portions of this exhibit (indicated by asterisks) have been omitted
pursuant to Regulation S-K, Item 601(b)(10) and Item 601(a)(5).

 

    27

     

    

 

7.7 Distributions.
No Loan Party shall, nor shall allow any Subsidiary to, (a) repurchase or redeem any class of shares, stock or other Equity Interest other
than pursuant to employee, director or consultant repurchase plans or other similar agreements, provided, however, in each case the repurchase
or redemption price does not exceed the original consideration paid for such stock or Equity Interest, or (b) declare or pay any cash
dividend or make any other cash distribution on any class of stock or other Equity Interest, except that a Subsidiary may pay dividends
or make other distributions to any Loan Party, or (c) lend money to any employees, officers or directors or guarantee the payment of any
such loans granted by a third party in excess of $500,000 in the aggregate or (d) waive, release or forgive any Indebtedness owed by any
employees, officers or directors in excess of $500,000 in the aggregate.

 

Notwithstanding the
foregoing, and for the avoidance of doubt, this Section 7.7 shall not prohibit the conversion by holders of (including any payment upon
conversion, whether in cash, Common Stock or a combination thereof), or required payment of any principal or premium on (including, for
the avoidance of doubt, in respect of a required repurchase in connection with the redemption of Permitted Convertible Debt upon satisfaction
of a condition related to the stock price of the Common Stock) or required payment of any interest with respect to, any Permitted Convertible
Debt in each case, in accordance with the terms of the indenture governing such Permitted Convertible Debt; provided that principal payments
in cash (other than cash in lieu of fractional shares) shall only be allowed if the Redemption Conditions are satisfied in respect of
such payment and at all times after such payment; provided further that, to the extent both (a) the aggregate amount of cash payable upon
conversion or payment of any Permitted Convertible Debt (excluding any required payment of interest with respect to such Permitted Convertible
Debt and excluding any payment of cash in lieu of a fractional share due upon conversion thereof) exceeds the aggregate principal amount
thereof and (b) such conversion or payment is not offset by an exercise or early unwind or settlement of a corresponding portion of the
Bond Hedge Transactions relating to such Permitted Convertible Debt (including, for the avoidance of doubt, the case where there is no
Bond Hedge Transaction relating to such Permitted Convertible Debt), the payment of such excess cash shall not be permitted by the preceding
sentence.

 

Notwithstanding the
foregoing, Borrower may repurchase, exchange or induce the conversion of Permitted Convertible Debt by delivery of Common Stock and/or
a different series of Permitted Convertible Debt and/or by payment of cash (in an amount that does not exceed the proceeds received by
Borrower from the substantially concurrent issuance of Common Stock and/or Permitted Convertible Debt plus the net cash proceeds, if any,
received by Borrower pursuant to the related exercise or early unwind or termination of the related Permitted Bond Hedge Transactions
and Permitted Warrant Transactions, if any, pursuant to the immediately following proviso); provided that, substantially concurrently
with, or a commercially reasonable period of time before or after, the related settlement date for the Permitted Convertible Debt that
is so repurchased, exchanged or converted, Borrower shall exercise or unwind or terminate early (whether in cash, shares or any combination
thereof) the portion of the Permitted Bond Hedge Transactions and Permitted Warrant Transactions, if any, corresponding to such Permitted
Convertible Debt that are so repurchased, exchanged or converted.

 

7.8 Transfers.
Except for Permitted Transfers and Permitted Investments that constitute Permitted Transfers, no Loan Party shall, nor shall allow any
Subsidiary to, voluntarily or involuntarily transfer, sell, lease, license, lend or in any other manner convey any equitable, beneficial
or legal interest in any material portion of its assets.

 

7.9 Mergers
and Consolidations. No Loan Party shall merge or consolidate, or permit any of its Subsidiaries to merge or consolidate, with or into
any other business organization (other than mergers or consolidations of (a) a Subsidiary which is not a Loan Party into another Subsidiary
or into a Loan Party or (b) a Loan Party into another Loan Party).

 

7.10 Taxes.
Each Loan Party shall, and shall cause each of its Subsidiaries to, pay when due all material Taxes of any nature whatsoever now or hereafter
imposed or assessed against any Loan Party, any of its Subsidiaries or the Collateral or upon any Loan Party’s or any of its Subsidiaries’
ownership, possession, use, operation or disposition thereof or upon any Loan Party’s or any of its Subsidiaries’ rents, receipts
or earnings arising therefrom. Each Loan Party shall, and shall cause each of its Subsidiaries to, accurately file on or before the due
date therefor (taking into account proper extensions) all federal and state income Tax returns and other material Tax returns required
to be filed. Notwithstanding the foregoing, any Loan Party may contest, in good faith and by appropriate proceedings diligently conducted,
Taxes for which such Loan Party maintains adequate reserves therefor in accordance with GAAP.

 

[***] Portions of this exhibit (indicated by asterisks) have been omitted
pursuant to Regulation S-K, Item 601(b)(10) and Item 601(a)(5).

 

    28

     

    

 

7.11 Corporate
Changes. No Loan Party nor any Subsidiary shall change its corporate name, legal form or jurisdiction of formation without twenty
(20) days’ prior written notice to Agent. No Loan Party shall suffer a Change in Control. No Loan Party nor any Subsidiary shall
relocate its chief executive office or its principal place of business unless: (i) it has provided prior written notice to Agent; and
(ii) such relocation shall be within the continental United States of America or Israel. No Loan Party nor any Subsidiary shall relocate
any item of Collateral (other than (x) sales of Inventory in the ordinary course of business, (y) relocations of Equipment having an aggregate
value of up to $750,000 in any fiscal year, and (z) relocations of Collateral from a location described on Exhibit B to another location
described on Exhibit B) unless (i) it has provided prompt written notice to Agent and (ii) such relocation is within the continental United
States of America or Israel, (iii) if such relocation is to a third party bailee, it has delivered a bailee agreement in form and substance
reasonably acceptable to Agent.

 

7.12 Deposit
Accounts. No Loan Party nor any Subsidiary shall maintain any Deposit Accounts, or accounts holding Investment Property, except with
respect to which Agent has an Account Control Agreement. Notwithstanding the foregoing, the Borrower and its Subsidiaries shall not be
required to obtain an Account Control Agreement with respect to Excluded Accounts.

 

7.13 Joinder.
Borrower shall notify Agent of each Subsidiary formed subsequent to the Closing Date and, within 15 days of formation, shall cause any
such Subsidiary to execute and deliver to Agent a Joinder Agreement.

 

7.14 [RESERVED]

 

7.15 Notification
of Event of Default. Borrower shall notify Agent immediately of the occurrence of any Event of Default.

 

7.16 Use of
Proceeds. Borrower agrees that the proceeds of the Loans shall be used solely to pay related fees and expenses in connection with
this Agreement and, for working capital and general corporate purposes. The proceeds of the Loans will not be used in violation of Anti-Corruption
Laws or applicable Sanctions.

 

7.17 Limitation
on Cash Outside of the United States. The Loan Parties and their Subsidiaries shall at all times maintain aggregate Cash and Cash
Equivalents in accounts in the United States subject to an Account Control Agreement in favor of Agent in an amount not less than the
lesser of (i) $10,000,000 and (ii) 30% of all aggregate Cash and Cash Equivalents of the Loan Parties and their Subsidiaries.

 

7.18 Compliance
with Laws.

 

(a) Each Loan Party
shall maintain, and shall cause its Subsidiaries to maintain, compliance in all material respects with all applicable laws, rules or regulations
(including any law, rule or regulation with respect to the making or brokering of loans or financial accommodations), and shall, or cause
its Subsidiaries to, obtain and maintain all required Governmental Approvals.

 

[***] Portions of this exhibit (indicated by asterisks) have been omitted
pursuant to Regulation S-K, Item 601(b)(10) and Item 601(a)(5).

 

    29

     

    

 

(b) No Loan Party
nor any of its Subsidiaries shall, nor shall any Loan Party or any of its Subsidiaries permit any Affiliate to, directly or indirectly,
knowingly enter into any documents, instruments, agreements or contracts with any Person listed on the OFAC Lists. No Loan Party nor any
of its Subsidiaries shall, nor shall any Loan Party or any of its Subsidiaries, permit any Affiliate to, directly or indirectly, (i) conduct
any business or engage in any transaction or dealing with any Blocked Person, including, without limitation, the making or receiving of
any contribution of funds, goods or services to or for the benefit of any Blocked Person, (ii) deal in, or otherwise engage in any
transaction relating to, any property or interests in property blocked pursuant to Executive Order No. 13224 or any similar executive
order or other Anti-Terrorism Law, or (iii) engage in or conspire to engage in any transaction that evades or avoids, or has the
purpose of evading or avoiding, or attempts to violate, any of the prohibitions set forth in Executive Order No. 13224 or other Anti-Terrorism
Law.

 

(c) Each Loan Party
has implemented and maintains in effect policies and procedures designed to ensure compliance by such Loan Party, its Subsidiaries and
their respective directors, officers, employees and agents with Anti-Corruption Laws and applicable Sanctions, and each Loan Party, its
Subsidiaries and their respective officers and employees and to the knowledge of such Loan Party’s its directors and agents, are
in compliance with Anti-Corruption Laws and applicable Sanctions in all material respects.

 

(d) No Loan Party,
any of its Subsidiaries or any of their respective directors, officers or employees, or to the knowledge of such Loan Party, any agent
for such Loan Party or its Subsidiaries that will act in any capacity in connection with or benefit from the credit facility established
hereby, is a Sanctioned Person. No Loan, use of proceeds or other transaction contemplated by this Agreement will violate Anti-Corruption
Laws or applicable Sanctions.

 

7.19 Financial
Covenants

 

(a) Minimum Qualified
Cash. Commencing October 1, 2022 and at all times thereafter, Borrower shall maintain Qualified Cash of at least $5,000,000 plus the
Qualified Cash A/P Amount, provided that the foregoing covenant shall be waived during any period in which Borrower’s Market Capitalization
exceeds $250,000,000.

 

(b) Redemption
Conditions. If Borrower makes cash payment in respect of Permitted Convertible Debt subject to satisfaction of the Redemption Conditions,
Borrower shall, at all times thereafter, maintain Qualified Cash in the amount required by the defined term “Redemption Conditions”.

 

7.20 Intellectual
Property. Each Loan Party shall (i) protect, defend and maintain the validity and enforceability of its material Intellectual Property;
(ii) promptly advise Agent in writing of material infringements of its material Intellectual Property; and (iii) not allow any Intellectual
Property material to Loan Parties’ business to be abandoned, forfeited or dedicated to the public without Agent’s written
consent.

 

7.21 Transactions
with Affiliates. Each Loan Party shall not and shall not permit any Subsidiary to, directly or indirectly, enter into or permit to
exist any transaction of any kind with any Affiliate of such Loan Party or such Subsidiary on terms that are less favorable to such Loan
Party or such Subsidiary, as the case may be, than those that might be obtained in an arm’s length transaction from a Person who
is not an Affiliate of such Loan Party or such Subsidiary other than (i) Permitted Investments, (ii) reasonable and customary fees paid
to board members and (iii) board-approved compensation arrangements for officers and other employees.

 

SECTION
8. RIGHT TO invest

 

8.1 Subject to
compliance with any SEC regulations and other than any “at the market” or similar arrangement, the Borrower will notify the
Lenders of any equity offering of Common Shares that will be broadly marketed to multiple investors and Lender may submit a non-binding
indication of interest to the managing underwriter(s) of such equity offering up to a total of $2,000,000. The Borrower will use commercially
reasonable efforts to ensure that Lender is allocated such securities on the same terms, conditions and pricing afforded to others participating
in any such Subsequent Financing. This Section 8.1, and all rights and obligations hereunder, shall terminate upon the repayment in full
of the Secured Obligations and the termination of this Agreement.

 

[***] Portions of this exhibit (indicated by asterisks) have been omitted
pursuant to Regulation S-K, Item 601(b)(10) and Item 601(a)(5).

 

    30

     

    

 

SECTION
9. EVENTS OF DEFAULT

 

The occurrence of any one
or more of the following events shall be an Event of Default:

 

9.1 Payments.
Any Loan Party fails to pay any amount due under this Agreement or any of the other Loan Documents on the due date; provided, however,
that an Event of Default shall not occur on account of a failure to pay due solely to an administrative or operational error of Agent
or the Lenders or any Loan Party’s bank if such Loan Party had the funds to make the payment when due and makes the payment within
three (3) Business Days following such Loan Party’s knowledge of such failure to pay; or

 

9.2 Covenants.
Any Loan Party breaches or defaults in the performance of any covenant or Secured Obligation under this Agreement, or any of the other
Loan Documents, and (a) with respect to a default under any covenant under this Agreement (other than as set forth in subsection
(b) below), any other Loan Document, such default continues for more than fifteen (15) days after the earlier of the date on which (i)
Agent or the Lenders has given notice of such default to the Loan Parties and (ii) any Loan Party has actual knowledge of such default
or (b) with respect to a default under any of Sections 4.4, 6, 7.1, 7.4, 7.5, 7.6, 7.7, 7.8, 7.9, 7.15, 7.16, 7.17, 7.19, 7.20, and 7.21,
the occurrence of such default; or there is a breach or default pursuant to any ISR Security Document; or

 

9.3 Material
Adverse Effect. A circumstance has occurred that would reasonably be expected to have a Material Adverse Effect; provided that solely
for purposes of this Section 9.3, the following events shall not, in and of itself, constitute a Material Adverse Effect (unless otherwise
constituting an Event of Default): (a) adverse results or delays in any nonclinical or clinical trial, (b) the failure to achieve Performance
Milestone I or Performance Milestone II, or any other clinical or non-clinical trial goals or objectives, including without limitation,
the failure to demonstrate the desired safety or efficacy of any drug or companion diagnostic, (c) the denial, delay or limitation of
approval of, or taking of any other regulatory action by, the United States Food and Drug Administration or any other governmental entity
with respect to any drug or companion diagnostic, or (d) a change in or discontinuation of a strategic partnership or other collaboration
or license arrangement; or

 

9.4 Representations.
Any representation or warranty made by any Loan Party in any Loan Document shall have been false or misleading in any material respect
when made or when deemed made; or

 

9.5 Insolvency.
Borrower, and with respect to the Guarantors, as the following may apply under the Insolvency and Economic Rehabilitation Law, 2018 (“Israeli
Insolvency Law”), (A) (i) shall make an assignment for the benefit of creditors; or (ii) shall be unable to pay
its debts as they become due, or be unable to pay or perform under the Loan Documents, or shall become insolvent; or (iii) shall
file a voluntary petition in bankruptcy; or (iv) shall file any petition, answer, or document seeking for itself any reorganization,
arrangement, composition, readjustment, liquidation, dissolution or similar relief under any present or future statute, law or regulation
pertinent to such circumstances; or (v) shall seek or consent to or acquiesce in the appointment of any trustee, receiver, or liquidator
of a Loan Party or of all or any substantial part (i.e., 33-1/3% or more) of the assets or property of a Loan Party; or (vi) shall
cease operations of its business as its business has normally been conducted, or terminate substantially all of its employees; or (vii) a
Loan Party or its directors or majority shareholders shall take any action initiating any of the foregoing actions described in clauses (i)
through (vi); or (B) either (i) thirty (30) days shall have expired after the commencement of an involuntary action against a Loan
Party seeking reorganization, arrangement, composition, readjustment, liquidation, dissolution or similar relief under any present or
future statute, law or regulation, without such action being dismissed or all orders or proceedings thereunder affecting the operations
or the business of a Loan Party being stayed; or (ii) a stay of any such order or proceedings shall thereafter be set aside and the
action setting it aside shall not be timely appealed; or (iii) a Loan Party shall file any answer admitting or not contesting the
material allegations of a petition filed against such Loan Party in any such proceedings; or (iv) the court in which such proceedings
are pending shall enter a decree or order granting the relief sought in any such proceedings; or (v) thirty (30) days shall have expired
after the appointment, without the consent or acquiescence of the applicable Loan Party, of any trustee, receiver or liquidator of a Loan
Party or of all or any substantial part of the properties of such Loan Party without such appointment being vacated; or (vi) with respect
to Guarantors, any step is taken with a view to the suspension of payments, a moratorium or a composition, compromise, assignment or similar
arrangement with any of its creditors and including the filing for a motion to initiate proceedings under the Israeli Insolvency Law;
or

 

[***] Portions of this exhibit (indicated by asterisks) have been omitted
pursuant to Regulation S-K, Item 601(b)(10) and Item 601(a)(5).

 

    31

     

    

 

9.6 Attachments;
Judgments. Any portion of the assets of the Loan Parties in aggregate value of $750,000 or more is attached or seized, or a levy is
filed against any such assets, or a judgment or judgments is/are entered for the payment of money (not covered by independent third party
insurance as to which liability has not been rejected by such insurance carrier), individually or in the aggregate, of at least $750,000,
and such judgment remains unsatisfied unvacated, or unstayed for a period of twenty (20) days after the entry thereof, or any Loan Party
is enjoined or in any way prevented by court order from conducting any material part of its business; or

 

9.7 Other Obligations.
(i) The occurrence of any default under, (A) any agreement or obligation of any Loan Party involving any Indebtedness in excess of $750,000,
or (B) any other material agreement or obligation that permits the counterparty thereto to accelerate payments in excess of $750,000 owed
thereunder or if a Material Adverse Effect would reasonably be expected to result from such default, or (ii) any “fundamental change”
(howsoever defined, but excluding any “make-whole fundamental change”) occurs under the indenture governing any Permitted
Convertible Debt or (iii) the early termination of any Permitted Bond Hedge Transaction or Permitted Warrant Transaction by the counterparty
thereto, due to a breach or default by any Loan Party or Subsidiary thereof (except to the extent such early termination requires only
the issuance of Equity Interests by Borrower), if such termination would require Borrower to pay in excess of $750,000; or

 

9.8 Governmental
Approvals. Any Governmental Approval shall have been revoked, rescinded, suspended, modified in an adverse manner or not renewed for
a full term, where such revocation, rescission, suspension, modification or non-renewal has, or would reasonably be expected to have,
a Material Adverse Effect; or

 

SECTION
10. REMEDIES

 

10.1 General.
Upon and during the continuance of any one or more Events of Default, Agent may, and at the direction of the Required Lenders shall, accelerate
and demand payment of all or any part of the Secured Obligations together with a Prepayment Charge and declare them to be immediately
due and payable (provided, that upon the occurrence of an Event of Default of the type described in Section 9.5, all of the Secured Obligations
(including, without limitation, the Prepayment Charge and the End of Term Charge) shall automatically be accelerated and made due and
payable, in each case without any further notice or act). Each Loan Party hereby irrevocably appoints Agent as its lawful attorney-in-fact
to: (a) exercisable following the occurrence of an Event of Default, (i) sign such Loan Party’s name on any invoice or bill of lading
for any account or drafts against account debtors; (ii) demand, collect, sue, and give releases to any account debtor for monies due,
settle and adjust disputes and claims about the accounts directly with account debtors, and compromise, prosecute, or defend any action,
claim, case, or proceeding about any Collateral (including filing a claim or voting a claim in any bankruptcy case in Agent’s or
such Loan Party’s name, as Agent may elect, including with respect to the Guarantors, under the Israeli Insolvency Law); (iii) make,
settle, and adjust all claims under such Loan Party’s insurance policies; (iv) pay, contest or settle any Lien, charge, encumbrance,
security interest, or other claim in or to the Collateral, or any judgment based thereon, or otherwise take any action to terminate or
discharge the same; (v) transfer the Collateral into the name of Agent or a third party as the UCC permits; and (vi) receive, open and
dispose of mail addressed to a Loan Party; and (b) regardless of whether an Event of Default has occurred, (i) endorse a Loan Party’s
name on any checks, payment instruments, or other forms of payment or security; and (ii) notify all account debtors to pay Agent directly.
Each Loan Party hereby appoints Agent as its lawful attorney-in-fact to sign such Loan Party’s name on any documents necessary to
perfect or continue the perfection of Agent’s security interest in the Collateral regardless of whether an Event of Default has
occurred until all Secured Obligations have been satisfied in full and the Loan Documents have been terminated. Agent’s foregoing
appointment as such Loan Party’s attorney in fact, and all of Agent’s rights and powers, coupled with an interest, are irrevocable
until all Secured Obligations have been fully repaid and performed and the Loan Documents have been terminated. Agent may, and at the
direction of the Required Lenders shall, exercise all rights and remedies with respect to the Collateral under the Loan Documents or otherwise
available to it under the UCC and other applicable law, including the right to release, hold, sell, lease, liquidate, collect, realize
upon, or otherwise dispose of all or any part of the Collateral and the right to occupy, utilize, process and commingle the Collateral.
All Agent’s rights and remedies shall be cumulative and not exclusive.

 

[***] Portions of this exhibit (indicated by asterisks) have been omitted
pursuant to Regulation S-K, Item 601(b)(10) and Item 601(a)(5).

 

    32

     

    

 

10.2 Collection;
Foreclosure. Upon the occurrence and during the continuance of any Event of Default, Agent may, and at the direction of the Required
Lenders shall, at any time or from time to time, apply, collect, liquidate, sell in one or more sales, lease or otherwise dispose of,
any or all of the Collateral, in its then condition or following any commercially reasonable preparation or processing, in such order
as Agent may elect. Any such sale may be made either at public or private sale at its place of business or elsewhere. Each Loan Party
agrees that any such public or private sale may occur upon ten (10) calendar days’ prior written notice to such Loan Party. Agent
may require any Loan Party to assemble the Collateral and make it available to Agent at a place designated by Agent that is reasonably
convenient to Agent and such Loan Party. The proceeds of any sale, disposition or other realization upon all or any part of the Collateral
shall be applied by Agent in the following order of priorities:

 

First, to Agent and
the Lenders in an amount sufficient to pay in full Agent’s and the Lenders’ reasonable costs and professionals’ and
advisors’ fees and expenses as described in Section 11.12;

 

Second, to the Lenders
in an amount equal to the then unpaid amount of the Secured Obligations (including principal, interest, and the Default Rate interest),
in such order and priority as Agent may choose in its sole discretion; and

 

Finally, after the
full and final payment in Cash of all of the Secured Obligations (other than inchoate obligations), to any creditor holding a junior Lien
on the Collateral, or to the Loan Parties or their representatives or as a court of competent jurisdiction may direct.

 

Agent shall be deemed to have acted reasonably
in the custody, preservation and disposition of any of the Collateral if it complies with the obligations of a secured party under the
UCC.

 

10.3 No Waiver.
Agent shall be under no obligation to marshal any of the Collateral for the benefit of the Loan Parties or any other Person, and each
Loan Party expressly waives all rights, if any, to require Agent to marshal any Collateral.

 

10.4 Cumulative
Remedies. The rights, powers and remedies of Agent hereunder shall be in addition to all rights, powers and remedies given by statute
or rule of law and are cumulative. The exercise of any one or more of the rights, powers and remedies provided herein shall not be construed
as a waiver of or election of remedies with respect to any other rights, powers and remedies of Agent.

 

SECTION
11. MISCELLANEOUS

 

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

 

[***] Portions of this exhibit (indicated by asterisks) have been omitted
pursuant to Regulation S-K, Item 601(b)(10) and Item 601(a)(5).

 

    33

     

    

 

11.2 Notice.
Except as otherwise provided herein, any notice, demand, request, consent, approval, declaration, service of process or other communication
(including the delivery of Financial Statements) that is required, contemplated, or permitted under the Loan Documents or with respect
to the subject matter hereof shall be in writing, and shall be deemed to have been validly served, given, delivered, and received upon
the earlier of: (i) the day of transmission by electronic mail or hand delivery or delivery by an overnight express service or overnight
mail delivery service; or (ii) the third calendar day after deposit in the United States of America mails, with proper first class
postage prepaid, in each case addressed to the party to be notified as follows:

 

	 	(a)	If to Agent:

 

HERCULES CAPITAL, INC.

Legal Department

Attention: Chief Legal Officer, Janice Bourque and Katie Segien

400 Hamilton Avenue, Suite 310

Palo Alto, CA 94301

email: legal@htgc.com; jbourque@htgc.com; ksegien@htgc.com

Telephone: 650-289-3060

 

	 	(b)	If to the Lenders:

 

HERCULES CAPITAL, INC.

Legal Department

Attention: Chief Legal Officer, Janice Bourque and Katie Segien

400 Hamilton Avenue, Suite 310

Palo Alto, CA 94301

email: legal@htgc.com; jbourque@htgc.com; ksegien@htc.com

Telephone: 650-289-3060

 

	 	(c)	If to any Loan Party:

 

BIOMX INC.

Attention: SVP, Finance and Operations

36 E. Industrial Rd. First Floor

Branford, CT 06405

email: marinaw@biomx.com

Telephone: +972-723942377

 

or to such other address as
each party may designate for itself by like notice.

 

11.3 Entire
Agreement; Amendments.

 

(a) This Agreement
and the other Loan Documents constitute the entire agreement and understanding of the parties hereto in respect of the subject matter
hereof and thereof, and supersede and replace in their entirety any prior proposals, term sheets, non-disclosure or confidentiality agreements,
letters, negotiations or other documents or agreements, whether written or oral, with respect to the subject matter hereof or thereof
(including Agent’s revised proposal letter dated July 8, 2021 and the Non-Disclosure Agreement).

 

[***] Portions of this exhibit (indicated by asterisks) have been omitted
pursuant to Regulation S-K, Item 601(b)(10) and Item 601(a)(5).

 

    34

     

    

 

(b) Neither this
Agreement, any other Loan Document, nor any terms hereof or thereof may be amended, supplemented or modified except in accordance with
the provisions of this Section 11.3(b). The Required Lenders and each Loan Party party to the relevant Loan Document may, or, with the
written consent of the Required Lenders, the Agent and the Loan Parties party to the relevant Loan Document may, from time to time, (i)
enter into written amendments, supplements or modifications hereto and to the other Loan Documents for the purpose of adding any provisions
to this Agreement or the other Loan Documents or changing in any manner the rights of the Lenders or of the Loan Parties hereunder or
thereunder or (ii) waive, on such terms and conditions as the Required Lenders or the Agent, as the case may be, may specify in such instrument,
any of the requirements of this Agreement or the other Loan Documents or any default or Event of Default and its consequences; provided,
however, that no such waiver and no such amendment, supplement or modification shall (A) forgive the principal amount or extend the final
scheduled date of maturity of any Loan, extend the scheduled date of any amortization payment in respect of any Term Loan, reduce the
stated rate of any interest (or fee payable hereunder) or extend the scheduled date of any payment thereof, in each case without the written
consent of each Lender directly affected thereby; (B) eliminate or reduce the voting rights of any Lender under this Section 11.3(b) without
the written consent of such Lender; (C) reduce any percentage specified in the definition of Required Lenders, consent to the assignment
or transfer by the Loan Parties of any of their rights and obligations under this Agreement and the other Loan Documents, release all
or substantially all of the Collateral or release a Loan Party from its obligations under the Loan Documents, in each case without the
written consent of all Lenders; or (D) amend, modify or waive any provision of Section 11.18 or Addendum 3 without the written consent
of the Agent. Any such waiver and any such amendment, supplement or modification shall apply equally to each Lender and shall be binding
upon the Loan Parties, the Lender, the Agent and all future holders of the Loans.

 

11.4 No Strict
Construction. The parties hereto have participated jointly in the negotiation and drafting of this Agreement. In the event an ambiguity
or question of intent or interpretation arises, this Agreement shall be construed as if drafted jointly by the parties hereto and no presumption
or burden of proof shall arise favoring or disfavoring any party by virtue of the authorship of any provisions of this Agreement.

 

11.5 No Waiver.
The powers conferred upon Agent and the Lenders by this Agreement are solely to protect its rights hereunder and under the other Loan
Documents and its interest in the Collateral and shall not impose any duty upon Agent or the Lenders to exercise any such powers. No omission
or delay by Agent or the Lenders at any time to enforce any right or remedy reserved to it, or to require performance of any of the terms,
covenants or provisions hereof by the Loan Parties at any time designated, shall be a waiver of any such right or remedy to which Agent
or the Lenders is entitled, nor shall it in any way affect the right of Agent or the Lenders to enforce such provisions thereafter.

 

11.6 Survival.
All agreements, representations and warranties contained in this Agreement and the other Loan Documents or in any document delivered pursuant
hereto or thereto shall be for the benefit of Agent and the Lenders and shall survive the execution and delivery of this Agreement. Sections
6.3, 8.1, and 11.15 shall survive the termination of this Agreement.

 

11.7 Successors
and Assigns. The provisions of this Agreement and the other Loan Documents shall inure to the benefit of and be binding on each Loan
Party and its permitted assigns (if any). No Loan Party shall assign its obligations under this Agreement or any of the other Loan Documents
without Agent’s express prior written consent, and any such attempted assignment shall be void and of no effect. Agent and the Lenders
may assign, transfer, or endorse its rights hereunder and under the other Loan Documents without prior notice to the Loan Parties, and
all of such rights shall inure to the benefit of Agent’s and the Lenders’ successors and assigns; provided that as long as
no Event of Default has occurred and is continuing, neither Agent nor any Lender may assign, transfer or endorse its rights hereunder
or under the Loan Documents to any party that is a direct competitor of any Loan Party or a distressed debt or vulture fund (as reasonably
determined by Agent in consultation with the Loan Parties), it being acknowledged that in all cases, any transfer to an Affiliate of any
Lender or Agent shall be allowed. Notwithstanding the foregoing, (x) in connection with any assignment by a Lender as a result of a forced
divestiture at the request of any regulatory agency, the restrictions set forth herein shall not apply and Agent and the Lenders may assign,
transfer or indorse its rights hereunder and under the other Loan Documents to any Person or party and (y) in connection with a Lender’s
own financing or securitization transactions, the restrictions set forth herein shall not apply and Agent and the Lenders may assign,
transfer or indorse its rights hereunder and under the other Loan Documents to any Person or party providing such financing or formed
to undertake such securitization transaction and any transferee of such Person or party upon the occurrence of a default, event of default
or similar occurrence with respect to such financing or securitization transaction; provided that no such sale, transfer, pledge or assignment
under this clause (y) shall release such Lender from any of its obligations hereunder or substitute any such Person or party for such
Lender as a party hereto until Agent shall have received and accepted an effective assignment agreement from such Person or party in form
satisfactory to Agent executed, delivered and fully completed by the applicable parties thereto, and shall have received such other information
regarding such assignee as Agent reasonably shall require. The Agent, acting solely for this purpose as an agent of the Loan Parties,
shall maintain at one of its offices in the United States a register for the recordation of the names and addresses of the Lender(s),
and the Term Commitments of, and principal amounts (and stated interest) of the Loans owing to, each Lender pursuant to the terms hereof
from time to time (the “Register”). The entries in the Register shall be conclusive absent manifest error, and the Loan Parties,
the Agent and the Lender(s) shall treat each Person whose name is recorded in the Register pursuant to the terms hereof as a Lender hereunder
for all purposes of this Agreement. The Register shall be available for inspection by the Loan Parties and any Lender, at any reasonable
time and from time to time upon reasonable prior notice.

 

[***] Portions of this exhibit (indicated by asterisks) have been omitted
pursuant to Regulation S-K, Item 601(b)(10) and Item 601(a)(5).

 

    35

     

    

 

11.8 Participations.
Each Lender that sells a participation shall, acting solely for this purpose as a non-fiduciary agent of the Borrower, maintain a register
on which it enters the name and address of each participant and the principal amounts (and stated interest) of each participant’s
interest in the Loans or other obligations under the Loan Documents (the “Participant Register”); provided that no Lender
shall have any obligation to disclose all or any portion of the Participant Register (including the identity of any participant or any
information relating to a participant’s interest in any commitments, loans, its other obligations under any Loan Document) to any
Person except to the extent that such disclosure is necessary to establish that such commitment, loan, letter of credit or other obligation
is in registered form under Section 5f.103-1(c) of the Treasury Regulations and proposed Section 1.163-5(b) of the Treasury Regulations.
The entries in the Participant Register shall be conclusive absent manifest error, and such Lender shall treat each Person whose name
is recorded in the Participant Register as the owner of such participation for all purposes of this Agreement notwithstanding any notice
to the contrary. For the avoidance of doubt, the Agent (in its capacity as Agent) shall have no responsibility for maintaining a Participant
Register. Borrower agrees that each participant shall be entitled to the benefits of the provisions in Addendum 1 attached hereto (subject
to the requirements and limitations herein and therein, including the requirements under Section 7 of Addendum 1 attached hereto (it being
understood that the documentation required under Section 7 of Addendum 1 attached hereto shall be delivered to the participating Lender))
to the same extent as if it were a Lender and had acquired its interest by assignment pursuant to Section 11.7; provided that such participant
shall not be entitled to receive any greater payment under Addendum 1 attached hereto, with respect to any participation, than its participating
Lender would have been entitled to receive, except to the extent such entitlement to receive a greater payment results from a change in
law that occurs after the participant acquired the applicable participation.

 

11.9 Governing
Law. This Agreement and the other Loan Documents, excluding the ISR Security Documents, have been negotiated and delivered to Agent
and the Lenders in the State of California, and shall have been accepted by Agent and the Lenders in the State of California. Payment
to Agent and the Lenders by the Loan Parties of the Secured Obligations is due in the State of California. This Agreement and the other
Loan Documents, excluding the ISR Security Documents, shall be governed by, and construed and enforced in accordance with, the laws of
the State of California, excluding conflict of laws principles that would cause the application of laws of any other jurisdiction. Notwithstanding
the foregoing, the ISR Security Documents, shall be governed by, and construed and enforced in accordance with, the laws of the State
of Israel, excluding conflict of laws principles that would cause the application of laws of any other jurisdiction.

 

11.10 Consent
to Jurisdiction and Venue. All judicial proceedings (to the extent that the reference requirement of Section 11.11 is not applicable)
arising in or under or related to this Agreement or any of the other Loan Documents may be brought in any state or federal court located
in the State of California. By execution and delivery of this Agreement, each party hereto generally and unconditionally: (a) consents
to nonexclusive personal jurisdiction in Santa Clara County, State of California; (b) waives any objection as to jurisdiction or
venue in Santa Clara County, State of California; (c) agrees not to assert any defense based on lack of jurisdiction or venue in
the aforesaid courts; and (d) irrevocably agrees to be bound by any judgment rendered thereby in connection with this Agreement or
the other Loan Documents. Service of process on any party hereto in any action arising out of or relating to this Agreement shall be effective
if given in accordance with the requirements for notice set forth in Section 11.2, and shall be deemed effective and received as
set forth in Section 11.2. Nothing herein shall affect the right to serve process in any other manner permitted by law or shall limit
the right of either party to bring proceedings in the courts of any other jurisdiction including but not limited to Israel.

 

[***] Portions of this exhibit (indicated by asterisks) have been omitted
pursuant to Regulation S-K, Item 601(b)(10) and Item 601(a)(5).

 

    36

     

    

 

11.11 Mutual
Waiver of Jury Trial / Judicial Reference.

 

(a) Because disputes
arising in connection with complex financial transactions are most quickly and economically resolved by an experienced and expert Person
and the parties wish applicable state and federal laws to apply (rather than arbitration rules), the parties desire that their disputes
be resolved by a judge applying such applicable laws. EACH OF THE LOAN PARTIES, AGENT AND THE LENDERS SPECIFICALLY WAIVES ANY RIGHT IT
MAY HAVE TO TRIAL BY JURY OF ANY CAUSE OF ACTION, CLAIM, CROSS-CLAIM, COUNTERCLAIM, THIRD PARTY CLAIM OR ANY OTHER CLAIM (COLLECTIVELY,
“CLAIMS”) ASSERTED BY THE LOAN PARTIES AGAINST AGENT, THE LENDERS OR THEIR RESPECTIVE ASSIGNEE OR BY AGENT, THE LENDERS OR
THEIR RESPECTIVE ASSIGNEE AGAINST ANY LOAN PARTY. This waiver extends to all such Claims, including Claims that involve Persons other
than Agent, the Loan Parties and the Lenders; Claims that arise out of or are in any way connected to the relationship among the Loan
Parties, Agent and the Lenders; and any Claims for damages, breach of contract, tort, specific performance, or any equitable or legal
relief of any kind, arising out of this Agreement, any other Loan Document.

 

(b) If the waiver
of jury trial set forth in Section 11.11(a) is ineffective or unenforceable, the parties agree that all Claims shall be resolved by reference
to a private judge sitting without a jury, pursuant to Code of Civil Procedure Section 638, before a mutually acceptable referee or, if
the parties cannot agree, a referee selected by the Presiding Judge of the Santa Clara County, California. Such proceeding shall be conducted
in Santa Clara County, California, with California rules of evidence and discovery applicable to such proceeding.

 

(c) In the event
Claims are to be resolved by judicial reference, either party may seek from a court identified in Section 11.10, any prejudgment order,
writ or other relief and have such prejudgment order, writ or other relief enforced to the fullest extent permitted by law notwithstanding
that all Claims are otherwise subject to resolution by judicial reference.

 

11.12 Professional
Fees. Each Loan Party promises to pay Agent’s and the Lenders’ fees and expenses necessary to finalize the loan documentation,
including but not limited to reasonable attorneys’ fees, UCC searches, filing costs, and other miscellaneous expenses. In addition,
each Loan Party promises to pay any and all reasonable attorneys’ and other professionals’ fees and expenses incurred by Agent
and the Lenders after the Closing Date in connection with or related to: (a) the Loan; (b) the administration, collection, or
enforcement of the Loan; (c) the amendment or modification of the Loan Documents; (d) any waiver, consent, release, or termination
under the Loan Documents; (e) the protection, preservation, audit, field exam, sale, lease, liquidation, or disposition of Collateral
or the exercise of remedies with respect to the Collateral; (f) any legal, litigation, administrative, arbitration, or out of court
proceeding in connection with or related to the Loan Parties or the Collateral, and any appeal or review thereof; and (g) any bankruptcy,
restructuring, reorganization, assignment for the benefit of creditors, workout, foreclosure, or other action related to the Loan Parties,
the Collateral, the Loan Documents, including with respect to the Guarantors, any such proceedings under the Israeli Insolvency Law, and
including representing Agent or the Lenders in any adversary proceeding or contested matter commenced or continued by or on behalf of
any Loan Party’s estate, and any appeal or review thereof.

 

[***] Portions of this exhibit (indicated by asterisks) have been omitted
pursuant to Regulation S-K, Item 601(b)(10) and Item 601(a)(5).

 

    37

     

    

 

11.13 Confidentiality.
Agent and the Lenders acknowledge that certain items of Collateral and information provided to Agent and the Lenders by the Loan Parties
are confidential and proprietary information of the Loan Parties, if and to the extent such information either (x) is marked as confidential
by the Loan Parties at the time of disclosure, or (y) should reasonably be understood to be confidential (the “Confidential Information”).
Accordingly, Agent and the Lenders agree that any Confidential Information it may obtain in the course of acquiring, administering, or
perfecting Agent’s security interest in the Collateral shall not be disclosed to any other Person or entity in any manner whatsoever,
in whole or in part, without the prior written consent of the Loan Parties, except that Agent and the Lenders may disclose any such information:
(a) to its Affiliates and its partners, investors, lenders, directors, officers, employees, agents, advisors, counsel, accountants,
counsel, representative and other professional advisors if Agent or the Lenders in their sole discretion determines that any such party
should have access to such information in connection with such party’s responsibilities in connection with the Loan or this Agreement
and, provided that such recipient of such Confidential Information either (i) agrees to be bound by the confidentiality provisions of
this paragraph or (ii) is otherwise subject to confidentiality restrictions that reasonably protect against the disclosure of Confidential
Information; (b) if such information is generally available to the public or to the extent such information becomes publicly available
other than as a result of a breach of this Section or becomes available to Agent or any Lender, or any of their respective Affiliates
on a non-confidential basis from a source other than a Loan Party; (c) if required or appropriate in any report, statement or testimony
submitted to any governmental authority having or claiming to have jurisdiction over Agent or the Lenders and any rating agency; (d) if
required or appropriate in response to any summons or subpoena or in connection with any litigation, to the extent permitted or deemed
advisable by Agent’s or the Lenders’ counsel; (e) to comply with any legal requirement or law applicable to Agent or
the Lenders; (f) to the extent reasonably necessary in connection with the exercise of any right or remedy under any Loan Document
including Agent’s sale, lease, or other disposition of Collateral after default; (g) to any participant or assignee of Agent
or the Lenders or any prospective participant or assignee, provided, that such participant or assignee or prospective participant or assignee
is subject to confidentiality restrictions that reasonably protect against the disclosure of Confidential Information; (h) to any investor
or potential investor (and each of their respective Affiliates or clients) in the Agent or Lender (or each of their respective Affiliates);
provided that such investor, potential investor, Affiliate or client is subject to confidentiality obligations with respect to the Confidential
Information; (i) otherwise to the extent consisting of general portfolio information that does not identify Borrower; or (j) otherwise
with the prior consent of the Loan Parties; provided, that any disclosure made in violation of this Agreement shall not affect the obligations
of the Loan Parties or any of their Affiliates or any guarantor under this Agreement or the other Loan Documents. Agent’s and the
Lenders’ obligations under this Section 11.13 shall supersede all of their respective obligations under the Non-Disclosure Agreement.

 

11.14 Assignment
of Rights. Each Loan Party acknowledges and understands that Agent or the Lenders may, subject to Section 11.7, sell and assign all
or part of its interest hereunder and under the Loan Documents to any Person or entity (an “Assignee”). After such assignment
the term “Agent” or “Lender” as used in the Loan Documents shall mean and include such Assignee, and such Assignee
shall be vested with all rights, powers and remedies of Agent and the Lenders hereunder with respect to the interest so assigned; but
with respect to any such interest not so transferred, Agent and the Lenders shall retain all rights, powers and remedies hereby given.
No such assignment by Agent or the Lenders shall relieve any Loan Party of any of its obligations hereunder. the Lenders agrees that in
the event of any transfer by it of the promissory note(s) (if any), it will endorse thereon a notation as to the portion of the principal
of the promissory note(s), which shall have been paid at the time of such transfer and as to the date to which interest shall have been
last paid thereon.

 

[***] Portions of this exhibit (indicated by asterisks) have been omitted
pursuant to Regulation S-K, Item 601(b)(10) and Item 601(a)(5).

 

    38

     

    

 

11.15 Revival
of Secured Obligations. This Agreement and the Loan Documents shall remain in full force and effect and continue to be effective if
any petition is filed by or against any Loan Party for liquidation or reorganization, including with respect to Guarantors, any such proceeding
under the Israeli Insolvency Law, if any Loan Party becomes insolvent or makes an assignment for the benefit of creditors, if a receiver
or trustee is appointed for all or any significant part of any Loan Party’s assets, or if any payment or transfer of Collateral
is recovered from Agent or the Lenders. The Loan Documents and the Secured Obligations and Collateral security shall continue to be effective,
or shall be revived or reinstated, as the case may be, if at any time payment and performance of the Secured Obligations or any transfer
of Collateral to Agent, or any part thereof is rescinded, avoided or avoidable, reduced in amount, or must otherwise be restored or returned
by, or is recovered from, Agent, the Lenders or by any obligee of the Secured Obligations, whether as a “voidable preference,”
“fraudulent conveyance,” or otherwise, all as though such payment, performance, or transfer of Collateral had not been made.
In the event that any payment, or any part thereof, is rescinded, reduced, avoided, avoidable, restored, returned, or recovered, the Loan
Documents and the Secured Obligations shall be deemed, without any further action or documentation, to have been revived and reinstated
except to the extent of the full, final, and indefeasible payment to Agent or the Lenders in Cash.

 

11.16 Counterparts.
This Agreement and any amendments, waivers, consents or supplements hereto may be executed in any number of counterparts, and by different
parties hereto in separate counterparts, each of which when so delivered shall be deemed an original, but all of which counterparts shall
constitute but one and the same instrument.

 

11.17 No Third
Party Beneficiaries. No provisions of the Loan Documents are intended, nor will be interpreted, to provide or create any third-party
beneficiary rights or any other rights of any kind in any Person other than Agent, the Lenders and the Loan Parties unless specifically
provided otherwise herein, and, except as otherwise so provided, all provisions of the Loan Documents will be personal and solely among
Agent, the Lenders and the Loan Parties.

 

11.18 Agency.
Agent and each Lender hereby agree to the terms and conditions set forth on Addendum 3 attached hereto. The Loan Parties acknowledge and
agree to the terms and conditions set forth on Addendum 3 attached hereto.

 

11.19 Publicity.
None of the parties hereto nor any of its respective member businesses and Affiliates shall, without the other parties’ prior written
consent (which shall not be unreasonably withheld or delayed), publicize or use (a) the other party’s name (including a brief description
of the relationship among the parties hereto), logo or hyperlink to such other parties’ web site, separately or together, in written
and oral presentations, advertising, promotional and marketing materials, client lists, public relations materials or on its web site
(together, the “Publicity Materials”); (b) the names of officers of such other parties in the Publicity Materials;
and (c) such other parties’ name, trademarks, servicemarks in any news or press release concerning such party; provided however,
notwithstanding anything to the contrary herein, no such consent shall be required (i) to the extent necessary to comply with the requests
of any regulators, legal requirements or laws applicable to such party, pursuant to any listing agreement with any national securities
exchange (so long as such party provides prior notice to the other party hereto to the extent reasonably practicable) and (ii) to comply
with Section 11.13.

 

11.20 Electronic
Execution of Certain Other Documents. The words “execution,” “execute”, “signed,” “signature,”
and words of like import in or related to any document to be signed in connection with this Agreement and the transactions contemplated
hereby (including without limitation assignments, assumptions, amendments, waivers and consents) shall be deemed to include electronic
signatures, the electronic matching of assignment terms and contract formations on electronic platforms approved by the Agent, or the
keeping of records in electronic form, each of which shall be of the same legal effect, validity or enforceability as a manually executed
signature or the use of a paper-based recordkeeping system, as the case may be, to the extent and as provided for in any applicable law,
including the Federal Electronic Signatures in Global and National Commerce Act, the California Uniform Electronic Transaction Act, or
any other similar state laws based on the Uniform Electronic Transactions Act.

 

[***] Portions of this exhibit (indicated by asterisks) have been omitted
pursuant to Regulation S-K, Item 601(b)(10) and Item 601(a)(5).

 

    39

     

    

 

SECTION
12. guarantee

 

12.1 The Guarantee.
Guarantors hereby jointly and severally guarantee to Agent and the Lenders, and their successors and assigns, the prompt payment in full
when due (whether at stated maturity, by acceleration or otherwise) of the principal of and interest on the Loans, all fees and other
amounts and Secured Obligations from time to time owing to Agent and Lenders by Borrower and each other Loan Party under this Agreement
or under any other Loan Document, in each case strictly in accordance with the terms hereof and thereof (such obligations being herein
collectively called the “Guaranteed Obligations”). Guarantors hereby further jointly and severally agree that
if Borrower or any other Loan Party shall fail to pay in full when due (whether at stated maturity, by acceleration or otherwise) any
of the Guaranteed Obligations, Guarantors shall promptly pay the same, without any demand or notice whatsoever, and that in the case of
any extension of time of payment or renewal of any of the Guaranteed Obligations, the same shall be promptly paid in full when due (whether
at extended maturity, by acceleration or otherwise) in accordance with the terms of such extension or renewal.

 

12.2 Obligations
Unconditional. The obligations of Guarantors under Section 12.1 are absolute and unconditional, joint and several, irrespective of the
value, genuineness, validity, regularity or enforceability of the obligations of Borrower or any other Guarantor under this Agreement
or any other agreement or instrument referred to herein, or any substitution, release or exchange of any other guarantee of or security
for any of the Guaranteed Obligations, and, to the fullest extent permitted by all applicable Laws, irrespective of any other circumstance
whatsoever that might otherwise constitute a legal or equitable discharge or defense of a surety or guarantor, it being the intent of
this Section 12.2 that the obligations of Guarantors hereunder shall be absolute and unconditional, joint and several, under any and all
circumstances. Without limiting the generality of the foregoing, it is expressly agreed that the Israeli Guarantee Law, 1967 (the “Israeli
Guarantee Law”) shall not apply to this Agreement or to any Loan Document and that should the Israeli Guarantee Law for
any reason be deemed to apply to this Agreement or to any Loan Document, each Guarantor organized under the laws of Israel (including
the Israeli Guarantor) hereby irrevocably and unconditionally waives all rights and defenses under the Israeli Guarantees Law that may
have been available to it under the Israeli Guarantee Law. Without limiting the generality of the foregoing, it is agreed that the occurrence
of any one or more of the following shall not alter or impair the liability of Guarantors hereunder, which shall remain absolute and unconditional
as described above:

 

(a) at any time
or from time to time, without notice to Guarantors, the time for any performance of or compliance with any of the Guaranteed Obligations
shall be extended, or such performance or compliance shall be waived;

 

(b) any of the acts
mentioned in any of the provisions of this Agreement or any other agreement or instrument referred to herein shall be done or omitted;

 

(c) the maturity
of any of the Guaranteed Obligations shall be accelerated, or any of the Guaranteed Obligations shall be modified, supplemented or amended
in any respect, or any right under this Agreement or any other agreement or instrument referred to herein shall be waived or any other
guarantee of any of the Guaranteed Obligations or any security therefor shall be released or exchanged in whole or in part or otherwise
dealt with; or

 

(d) any lien or
security interest granted as security for any of the Guaranteed Obligations shall fail to be perfected.

 

Guarantors hereby
expressly waive diligence, presentment, demand of payment, protest and all notices whatsoever, and any requirement that Agent or any Lender
exhaust any right, power or remedy or proceed against Borrower or any other Guarantor under this Agreement or any other agreement or instrument
referred to herein, or against any other Person under any other guarantee of, or security for, any of the Guaranteed Obligations.

 

[***] Portions of this exhibit (indicated by asterisks) have been omitted
pursuant to Regulation S-K, Item 601(b)(10) and Item 601(a)(5).

 

    40

     

    

 

12.3 Reinstatement.
The obligations of Guarantors under this Section 12 shall be automatically reinstated if and to the extent that for any reason any payment
by or on behalf of the Borrower in respect of the Guaranteed Obligations is rescinded or must be otherwise restored by any holder of any
of the Guaranteed Obligations, whether as a result of any proceedings in bankruptcy or reorganization or otherwise, and Guarantors jointly
and severally agree that they shall indemnify the Agent and Lenders on demand for all reasonable and documented out-of-pocket costs and
expenses (including reasonable and documented out-of-pocket fees of counsel) incurred by such Persons in connection with such rescission
or restoration, including any such costs and expenses incurred in defending against any claim alleging that such payment constituted a
preference, fraudulent transfer or similar payment under any bankruptcy, insolvency or similar law.

 

12.4 Subrogation.
Guarantors hereby jointly and severally agree that, until the payment and satisfaction in full of all Guaranteed Obligations and the expiration
and termination of the Term Commitments, they shall not exercise any right or remedy arising by reason of any performance by them of their
guarantee in Section 12.1, whether by subrogation or otherwise, against Borrower or any other guarantor of any of the Guaranteed Obligations
or any security for any of the Guaranteed Obligations.

 

12.5 Remedies.
Guarantors jointly and severally agree that, as between Guarantors, on one hand, and the Agent and Lenders, on the other hand, the obligations
of Borrower under this Agreement and under the other Loan Documents may be declared to be forthwith due and payable as provided in Section
10 (and shall be deemed to have become automatically due and payable in the circumstances provided in Section 10) for purposes of Section
12.1 notwithstanding any stay, injunction or other prohibition preventing such declaration (or such obligations from becoming automatically
due and payable) as against Borrower and that, in the event of such declaration (or such obligations being deemed to have become automatically
due and payable), such obligations (whether or not due and payable by the Borrower) shall forthwith become due and payable by Guarantors
for purposes of Section 12.1.

 

12.6 Continuing
Guarantee. The guarantee in this Section 12 is a continuing guarantee, and shall apply to all Guaranteed Obligations whenever arising.

 

12.7 General Limitation
on Guarantee Obligations. In any action or proceeding involving any provincial, territorial or state corporate law, or any U.S. or non-U.S.
state or federal bankruptcy, insolvency, reorganization or other law affecting the rights of creditors generally, if the obligations of
any Guarantor under Section 12.1 would otherwise be held or determined to be void, invalid or unenforceable, or subordinated to the claims
of any other creditors, on account of the amount of its liability under Section 12.1, then, notwithstanding any other provision hereof
to the contrary, the amount of such liability shall, without any further action by such Guarantor, the Agent, any Lender or any other
Person, be automatically limited and reduced to the highest amount that is valid and enforceable and not subordinated to the claims of
other creditors as determined in such action or proceeding.

 

(SIGNATURES TO FOLLOW)

 

[***] Portions of this exhibit (indicated by asterisks) have been omitted
pursuant to Regulation S-K, Item 601(b)(10) and Item 601(a)(5).

 

    41

     

    

 

IN WITNESS WHEREOF, the Loan Parties, Agent and
the Lenders have duly executed and delivered this Loan and Security Agreement as of the day and year first above written.

 

	 	BORROWER:
	 	 
	 	BIOMX INC.
	 	 
	 	By:	/s/ Marina Wolfson
	 	Name:	 Marina Wolfson
	 	Title:	 SVP, Finance and Operations
	 	 	 
	 	Guarantors:
	 	 
	 	BIOMX LTD.
	 	 
	 	By:	/s/ Marina Wolfson
	 	Name:	Marina Wolfson
	 	Title:	SVP, Finance and Operations
	 	 	 
	 	RONDINX LTD.
	 	 
	 	By:	/s/ Jonathan Solomon
	 	Name:	 Jonathan Solomon
	 	Title:	Director

 

[***] Portions of this exhibit (indicated by asterisks) have been omitted
pursuant to Regulation S-K, Item 601(b)(10) and Item 601(a)(5).

 

    42

     

    

 

Accepted in Palo Alto, California:

 

	 	AGENT:
	 	 
	 	HERCULES CAPITAL, INC.
	 	 
	 	By:	/s/ Jennifer Choe
	 	Name:	Jennifer Choe
	 	Title:	Associate General Counsel
	 	 	 
	 	LENDERS:
	 	 
	 	HERCULES CAPITAL, INC.
	 	 
	 	By:	/s/ Jennifer Choe
	 	Name:	Jennifer Choe
	 	Title:	Associate General Counsel
	 	 	 
	 	Hercules Private Global Venture Growth Fund I L.P. 
	 	 
	 	By: Hercules Private Global Venture Growth Fund GP I LLC,
    its general partner
	 	 
	 	By: Hercules Adviser LLC, its sole member
	 	 
	 	By:	/s/ Seth Meyer
	 	Name: 	Seth Meyer
	 	Title:	Chief Financial Officer

 

[***] Portions of this exhibit (indicated by asterisks) have been omitted
pursuant to Regulation S-K, Item 601(b)(10) and Item 601(a)(5).

 

    43

     

    

 

Table of Addenda, Exhibits and Schedules

 

	Addendum 1:	Taxes; Increased Costs
	Addendum 2:	[Reserved]
	Addendum 3:	Agent and Lender Terms 
	 	 
	Exhibit A:	Advance Request 
	 	Attachment to Advance Request
	Exhibit B:	Name, Locations, and Other Information for Loan Parties
	Exhibit C:	Patents, Trademarks, Copyrights and Licenses
	Exhibit D:	Deposit Accounts and Investment Accounts
	Exhibit E:	Compliance Certificate
	Exhibit F:	Joinder Agreement
	Exhibit G: 	[Reserved]
	Exhibit H:	ACH Debit Authorization Agreement
	Exhibit I:	[Reserved]
	Exhibit J-1:	Form of U.S. Tax Compliance Certificate (For Foreign Lenders That Are Not Partnerships For U.S. Federal Income Tax Purposes)
	Exhibit J-2:	Form of U.S. Tax Compliance Certificate (For Foreign Participants That Are Not Partnerships For U.S. Federal Income Tax Purposes)
	Exhibit J-3:	Form of U.S. Tax Compliance Certificate (For Foreign Participants That Are Partnerships For U.S. Federal Income Tax Purposes)
	Exhibit J-4:	Form of U.S. Tax Compliance Certificate (For Foreign Lenders That Are Partnerships For U.S. Federal Income Tax Purposes)
	 	 
	Schedule 1.1	Commitments
	Schedule 1	Subsidiaries
	Schedule 1A	Existing Permitted Indebtedness
	Schedule 1B	Existing Permitted Investments
	Schedule 1C	Existing Permitted Liens
	Schedule 5.3	Consents, Etc.
	Schedule 5.8	Tax Matters
	Schedule 5.9	Intellectual Property Claims
	Schedule 5.11	Borrower Products
	Schedule 5.14	Capitalization
	Schedule 5.15	IIA Grants, Royalties, Payments, etc.

 

     

     

    

 

ADDENDUM 1 to LOAN AND SECURITY AGREEMENT

 

TAXES; INCREASED
COSTS

 

	1.	Defined Terms. For purposes of this Addendum 1:

 

		a.	“Connection Income Taxes” means Other Connection Taxes that are imposed on or
measured by net income (however denominated) or that are franchise Taxes or branch profits Taxes.

 

		b.	“Excluded Taxes” means any of the following Taxes imposed on or with respect
to a Recipient or required to be withheld or deducted from a payment to a Recipient, (i) Taxes imposed on or measured by net income (however
denominated), franchise Taxes, and branch profits Taxes, in each case, (A) imposed as a result of such Recipient being organized under
the laws of, or having its principal office or, in the case of any Lender, its applicable lending office located in, the jurisdiction
imposing such Tax (or any political subdivision thereof) or (B) that are Other Connection Taxes, (ii) in the case of a Lender, U.S. federal
withholding Taxes imposed on amounts payable to or for the account of such Lender with respect to an applicable interest in a Loan or
Term Commitment pursuant to a law in effect on the date on which (A) such Lender acquires such interest in the Loan or Term Commitment
or (B) such Lender changes its lending office, except in each case to the extent that, pursuant to Section 2 or Section 4 of this Addendum
1, amounts with respect to such Taxes were payable either to such Lender’s assignor immediately before such Lender became a party
hereto or to such Lender immediately before it changed its lending office, (iii) Taxes attributable to such Recipient’s failure
to comply with Section 7 of this Addendum 1 and (iv) any withholding Taxes imposed under FATCA.

 

		c.	“FATCA” means Sections 1471 through 1474 of the Code, as of the date of this
Agreement (or any amended or successor version that is substantively comparable and not materially more onerous to comply with), any current
or future regulations or official interpretations thereof, any agreements entered into pursuant to Section 1471(b)(1) of the Code, and
any fiscal or regulatory legislation, rules or practices adopted pursuant to any intergovernmental agreement, treaty or convention among
Governmental Authorities and implementing such Sections of the Code.

 

		d.	“Foreign Lender” means a Lender that is not a U.S. Person.

 

		e.	“Indemnified Taxes” means (i) Taxes, other than Excluded Taxes, imposed on or
with respect to any payment made by or on account of any obligation of the Loan Parties under any Loan Document and (ii) to the extent
not otherwise described in clause (i), Other Taxes.

 

		f.	“Other Connection Taxes” means, with respect to any Recipient, Taxes imposed
as a result of a present or former connection between such Recipient and the jurisdiction imposing such Tax (other than connections arising
from such Recipient having executed, delivered, become a party to, performed its obligations under, received payments under, received
or perfected a security interest under, engaged in any other transaction pursuant to or enforced any Loan Document, or sold or assigned
an interest in any Loan or Loan Document).

 

		g.	“Other Taxes” means all present or future stamp, court or documentary, intangible,
recording, filing or similar Taxes that arise from any payment made under, from the execution, delivery, performance, enforcement or registration
of, from the receipt or perfection of a security interest under, or otherwise with respect to, any Loan Document, except any such Taxes
that are Other Connection Taxes imposed with respect to an assignment.

 

		h.	“Recipient” means the Agent or any Lender, as applicable.

 

		i.	“Withholding Agent” means the Borrower, any Guarantor and the Agent.

 

    2

     

    

 

	2.	Payments Free of Taxes. Any and all payments by or on account of any obligation of any Loan Party
under any Loan Document shall be made without deduction or withholding for any Taxes, except as required by applicable law. If any applicable
law (as determined in the good faith discretion of an applicable Withholding Agent) requires the deduction or withholding of any Tax from
any such payment by a Withholding Agent, then the applicable Withholding Agent shall be entitled to make such deduction or withholding
and shall timely pay the full amount deducted or withheld to the relevant Governmental Authority in accordance with applicable law and,
if such Tax is an Indemnified Tax, then the sum payable by such Loan Party shall be increased as necessary so that after such deduction
or withholding has been made (including such deductions and withholdings applicable to additional sums payable under this Section 2 or
Section 4 of this Addendum 1) the applicable Recipient receives an amount equal to the sum it would have received had no such deduction
or withholding been made.

 

	3.	Payment of Other Taxes by Loan Parties. The Loan Parties shall timely pay to the relevant Governmental
Authority in accordance with applicable law, or at the option of the Agent timely reimburse it for the payment of, any Other Taxes.

 

	4.	Indemnification by Loan Parties. The Loan Parties shall indemnify each Recipient, within 10 days
after demand therefor, for the full amount of any Indemnified Taxes (including Indemnified Taxes imposed or asserted on or attributable
to amounts payable under Section 2 of this Addendum 1 or this Section 4) payable or paid by such Recipient or required to be withheld
or deducted from a payment to such Recipient and any reasonable expenses arising therefrom or with respect thereto, whether or not such
Indemnified Taxes were correctly or legally imposed or asserted by the relevant Governmental Authority. A certificate as to the amount
of such payment or liability delivered to the Loan Parties by a Lender (with a copy to the Agent), or by the Agent on its own behalf or
on behalf of a Lender, shall be conclusive absent manifest error. In addition, each Loan Party agrees to pay, and to save the Agent and
any Lender harmless from, any and all liabilities with respect to, or resulting from any delay in paying, any and all excise, sales or
other similar taxes (excluding taxes imposed on or measured by the net income of the Agent or such Lender) that may be payable or determined
to be payable with respect to any of the Collateral or this Agreement.

 

	5.	Indemnification by the Lenders. Each Lender shall severally indemnify the Agent, within 10 days
after demand therefor, for (a) any Indemnified Taxes attributable to such Lender (but only to the extent that a Loan Party has not already
indemnified the Agent for such Indemnified Taxes and without limiting the obligation of the Loan Parties to do so), (b) any Taxes attributable
to such Lender’s failure to comply with the provisions of Section 11.8 of the Agreement relating to the maintenance of a Participant
Register and (c) any Excluded Taxes attributable to such Lender, in each case, that are payable or paid by the Agent in connection with
any Loan Document, and any reasonable expenses arising therefrom or with respect thereto, whether or not such Taxes were correctly or
legally imposed or asserted by the relevant Governmental Authority. A certificate as to the amount of such payment or liability delivered
to any Lender by the Agent shall be conclusive absent manifest error. Each Lender hereby authorizes the Agent to set off and apply any
and all amounts at any time owing to such Lender under any Loan Document or otherwise payable by the Agent to the Lender from any other
source against any amount due to the Agent under this Section 5.

 

	6.	Evidence of Payments. As soon as practicable after any payment of Taxes by a Loan Party to a Governmental
Authority pursuant to the provisions of this Addendum 1, such Loan Party shall deliver to the Agent the original or a certified copy of
a receipt issued by such Governmental Authority evidencing such payment, a copy of the return reporting such payment or other evidence
of such payment reasonably satisfactory to the Agent.

 

	7.	Status of Lenders.

 

		a.	Any Lender that is entitled to an exemption from or reduction of withholding Tax with respect to payments
made under any Loan Document shall deliver to the Borrower and the Agent, at the time or times reasonably requested by the Borrower or
the Agent, such properly completed and executed documentation reasonably requested by the Borrower or the Agent as will permit such payments
to be made without withholding or at a reduced rate of withholding. In addition, any Lender, if reasonably requested by the Borrower or
the Agent, shall deliver such other documentation prescribed by applicable law or reasonably requested by the Borrower or the Agent as
will enable the Borrower or the Agent to determine whether or not such Lender is subject to backup withholding or information reporting
requirements, or any other U.S. or non-U.S. withholding requirements. Notwithstanding anything to the contrary in the preceding two sentences,
the completion, execution and submission of such documentation (other than such documentation set forth in Sections 7(b)(i), 7(b)(ii)
and 7(b)(iv) of this Addendum 1) shall not be required if in the Lender’s reasonable judgment such completion, execution or submission
would subject such Lender to any material unreimbursed cost or expense or would materially prejudice the legal or commercial position
of such Lender.

 

    3

     

    

 

		b.	Without limiting the generality of the foregoing, in the event that a Loan Party is a U.S. Person,

 

		i.	any Lender that is a U.S. Person shall deliver to the Borrower and the Agent on or about the date on which
such Lender becomes a Lender under this Agreement (and from time to time thereafter upon the reasonable request of the Borrower or the
Agent), executed copies of IRS Form W-9 certifying that such Lender is exempt from U.S. federal backup withholding tax;

 

		ii.	any Foreign Lender shall, to the extent it is legally entitled to do so, deliver to the Borrower and the
Agent (in such number of copies as shall be requested by the recipient) on or about the date on which such Foreign Lender becomes a Lender
under this Agreement (and from time to time thereafter upon the reasonable request of the Borrower or the Agent), whichever of the following
is applicable:

 

		A.	in the case of a Foreign Lender claiming the benefits of an income tax treaty to which the United States
is a party (x) with respect to payments of interest under any Loan Document, executed copies of IRS Form W-8BEN or IRS Form W-8BEN-E establishing
an exemption from, or reduction of, U.S. federal withholding Tax pursuant to the “interest” article of such tax treaty and
(y) with respect to any other applicable payments under any Loan Document, IRS Form W-8BEN or IRS Form W-8BEN-E establishing an exemption
from, or reduction of, U.S. federal withholding Tax pursuant to the “business profits” or “other income” article
of such tax treaty;

 

		B.	executed copies of IRS Form W-8ECI;

	 	 	 

 

		C.	in the case of a Foreign Lender claiming the benefits of the exemption for portfolio interest under Section
881(c) of the Code, (x) a certificate substantially in the form of Exhibit J-1 to the effect that such Foreign Lender is not a “bank”
within the meaning of Section 881(c)(3)(A) of the Code, a “10 percent shareholder” of the Borrower within the meaning of Section
871(h)(3)(B) of the Code, or a “controlled foreign corporation” related to the Borrower as described in Section 881(c)(3)(C)
of the Code (a “U.S. Tax Compliance Certificate”) and (y) executed copies of IRS Form W-8BEN or IRS Form W-8BEN-E;
or

 

		D.	to the extent a Foreign Lender is not the beneficial owner, executed copies of IRS Form W-8IMY, accompanied
by IRS Form W-8ECI, IRS Form W-8BEN, IRS Form W-8BEN-E, a U.S. Tax Compliance Certificate substantially in the form of Exhibit J-2 or
Exhibit J-3, IRS Form W-9, and/or other certification documents from each beneficial owner, as applicable; provided that if the Foreign
Lender is a partnership and one or more direct or indirect partners of such Foreign Lender are claiming the portfolio interest exemption,
such Foreign Lender may provide a U.S. Tax Compliance Certificate substantially in the form of Exhibit J-4 on behalf of each such direct
and indirect partner;

 

    4

     

    

 

		iii.	any Foreign Lender shall, to the extent it is legally entitled to do so, deliver to the Borrower and the
Agent (in such number of copies as shall be requested by the recipient) on or about the date on which such Foreign Lender becomes a Lender
under this Agreement (and from time to time thereafter upon the reasonable request of the Borrower or the Agent), executed copies of any
other form prescribed by applicable law as a basis for claiming exemption from or a reduction in U.S. federal withholding Tax, duly completed,
together with such supplementary documentation as may be prescribed by applicable law to permit the Borrower or the Agent to determine
the withholding or deduction required to be made; and

 

		iv.	if a payment made to a Lender under any Loan Document would be subject to U.S. federal withholding Tax
imposed by FATCA if such Lender were to fail to comply with the applicable reporting requirements of FATCA (including those contained
in Section 1471(b) or 1472(b) of the Code, as applicable), such Lender shall deliver to the Borrower and the Agent at the time or times
prescribed by law and at such time or times reasonably requested by any Loan Party or the Agent such documentation prescribed by applicable
law (including as prescribed by Section 1471(b)(3)(C)(i) of the Code) and such additional documentation reasonably requested by the Borrower
or the Agent as may be necessary for the Borrower and the Agent to comply with their obligations under FATCA and to determine that such
Lender has complied with such Lender’s obligations under FATCA or to determine the amount, if any, to deduct and withhold from such
payment. Solely for purposes of this clause (iv), “FATCA” shall include any amendments made to FATCA after the date of this
Agreement.

 

		c.	Each Lender agrees that if any form or certification it previously delivered expires or becomes obsolete
or inaccurate in any respect, it shall update such form or certification or promptly notify the Borrower and the Agent in writing of its
legal inability to do so.

 

	8.	Treatment of Certain Refunds. If any party determines, in its sole discretion exercised in good
faith, that it has received a refund of any Taxes as to which it has been indemnified pursuant to the provisions of this Addendum 1 (including
by the payment of additional amounts pursuant to the provisions of this Addendum 1), it shall pay to the indemnifying party an amount
equal to such refund (but only to the extent of indemnity payments made under the provisions of this Addendum 1 with respect to the Taxes
giving rise to such refund), net of all out-of-pocket expenses (including Taxes) of such indemnified party and without interest (other
than any interest paid by the relevant Governmental Authority with respect to such refund). Such indemnifying party, upon the request
of such indemnified party, shall repay to such indemnified party the amount paid over pursuant to this Section 8 (plus any penalties,
interest or other charges imposed by the relevant Governmental Authority) in the event that such indemnified party is required to repay
such refund to such Governmental Authority. Notwithstanding anything to the contrary in this Section 8, in no event will the indemnified
party be required to pay any amount to an indemnifying party pursuant to this Section 8 the payment of which would place the indemnified
party in a less favorable net after-Tax position than the indemnified party would have been in if the Tax subject to indemnification and
giving rise to such refund had not been deducted, withheld or otherwise imposed and the indemnification payments or additional amounts
with respect to such Tax had never been paid. This Section 8 shall not be construed to require any indemnified party to make available
its Tax returns (or any other information relating to its Taxes that it deems confidential) to the indemnifying party or any other Person.

 

	9.	Increased Costs. If any change in applicable law shall subject any Recipient to any Taxes (other
than (A) Indemnified Taxes, (B) Taxes described in clauses (ii) through (iv) of the definition of Excluded Taxes and (C) Connection Income
Taxes) on its loans, loan principal, commitments, or other obligations, or its deposits, reserves, other liabilities or capital attributable
thereto, and the result shall be to increase the cost to such Recipient of making, converting to, continuing or maintaining any Term Loan
or of maintaining its obligation to make any such Loan, or to reduce the amount of any sum received or receivable by such Recipient (whether
of principal, interest or any other amount), then, upon the request of such Recipient, the Borrower will pay to such Recipient such additional
amount or amounts as will compensate such Recipient for such additional costs incurred or reduction suffered. Failure or delay on the
part of any Lender to demand compensation pursuant to this Section 9 shall not constitute a waiver of such Lender’s right to demand
such compensation; provided that the Loan Parties shall not be required to compensate a Lender pursuant to this Section 9 for any increased
costs incurred or reductions suffered more than nine months prior to the date that such Lender notifies the Borrower of the change in
law giving rise to such increased costs or reductions, and of such Lender’s intention to claim compensation therefor (except that,
if the change in law giving rise to such increased costs or reductions is retroactive, then the nine-month period referred to above shall
be extended to include the period of retroactive effect thereof).

 

	10.	Survival. Each party’s obligations under the provisions of this Addendum 1 shall survive
the resignation or replacement of the Agent or any assignment of rights by, or the replacement of, a Lender, the termination of the Term
Commitments and the repayment, satisfaction or discharge of all obligations under any Loan Document.

 

    5

     

    

 

ADDENDUM 2 to LOAN AND SECURITY AGREEMENT

 

[Reserved]

 

    

     

    

 

ADDENDUM
3 to LOAN AND SECURITY AGREEMENT

 

Agent
and Lender Terms

 

(a) Each Lender hereby irrevocably appoints Hercules Capital, Inc. to act on its behalf as the Agent hereunder and under the other Loan Documents
and authorizes the Agent to take such actions on its behalf and to exercise such powers as are delegated to the Agent by the terms hereof
or thereof, together with such actions and powers as are reasonably incidental thereto.

 

(b) Each Lender agrees to indemnify the Agent in its capacity as such (to the extent not reimbursed by the Loan Parties and without limiting
the obligation of the Loan Parties to do so), according to its respective Term Commitment percentages (based upon the total outstanding
Term Commitments) in effect on the date on which indemnification is sought under this Addendum 3, from and against any and all liabilities,
obligations, losses, damages, penalties, actions, judgments, suits, costs, expenses or disbursements of any kind whatsoever that may
at any time be imposed on, incurred by or asserted against the Agent in any way relating to or arising out of, this Agreement, any of
the other Loan Documents or any documents contemplated by or referred to herein or therein or the transactions contemplated hereby or
thereby or any action taken or omitted by the Agent under or in connection with any of the foregoing; The agreements in this Section
shall survive the payment of the Loans and all other amounts payable hereunder.

 

(c) Agent in Its Individual Capacity. The Person serving as the Agent hereunder shall have the same rights and powers in its capacity as
a Lender as any other Lender and may exercise the same as though it were not the Agent and the term “Lender” shall, unless
otherwise expressly indicated or unless the context otherwise requires, include each such Person serving as Agent hereunder in its individual
capacity.

 

(d) Exculpatory Provisions. The Agent shall have no duties or obligations except those expressly set forth herein and in the other Loan Documents.
Without limiting the generality of the foregoing, the Agent shall not:

 

		(i)	be
                                            subject to any fiduciary or other implied duties, regardless of whether any default or any
                                            Event of Default has occurred and is continuing;
	 	 	 

		(ii)	have
                                            any duty to take any discretionary action or exercise any discretionary powers, except discretionary
                                            rights and powers expressly contemplated hereby or by the other Loan Documents that the Agent
                                            is required to exercise as directed in writing by the Lenders, provided that the Agent shall
                                            not be required to take any action that, in its opinion or the opinion of its counsel, may
                                            expose the Agent to liability or that is contrary to any Loan Document or applicable law;
                                            and
	 	 	 

		(iii)	except
                                            as expressly set forth herein and in the other Loan Documents, have any duty to disclose,
                                            and the Agent shall not be liable for the failure to disclose, any information relating to
                                            the Loan Parties or any of its Affiliates that is communicated to or obtained by any Person
                                            serving as the Agent or any of its Affiliates in any capacity.

 

(e) The Agent shall not be liable for any action taken or not taken by it (i) with the consent or at the request of the Lenders or as the
Agent shall believe in good faith shall be necessary, under the circumstances or (ii) in the absence of its own gross negligence or willful
misconduct.

 

(f)
The Agent shall not be responsible for or have any duty to ascertain or inquire into (i) any statement, warranty or representation
made in or in connection with this Agreement or any other Loan Document, (ii) the contents of any certificate, report or other
document delivered hereunder or thereunder or in connection herewith or therewith, (iii) the performance or observance of any of the
covenants, agreements or other terms or conditions set forth herein or therein or the occurrence of any default or Event of Default,
(iv) the validity, enforceability, effectiveness or genuineness of this Agreement, any other Loan Document or any other agreement,
instrument or document or (v) the satisfaction of any condition set forth in Section 4 or elsewhere herein, other than to confirm
receipt of items expressly required to be delivered to the Agent. Reliance by Agent. Agent may rely, and shall be fully protected in
acting, or refraining to act, upon, any resolution, statement, certificate, instrument, opinion, report, notice, request, consent,
order, bond or other paper or document that it has no reason to believe to be other than genuine and to have been signed or
presented by the proper party or parties or, in the case of cables, telecopies and telexes, to have been sent by the proper party or
parties. In the absence of its gross negligence or willful misconduct, Agent may conclusively rely, as to the truth of the
statements and the correctness of the opinions expressed therein, upon any certificates or opinions furnished to Agent and
conforming to the requirements of this Agreement or any of the other Loan Documents. Agent may consult with counsel, and any opinion
or legal advice of such counsel shall be full and complete authorization and protection in respect of any action taken, not taken or
suffered by Agent hereunder or under any Loan Documents in accordance therewith. Agent shall have the right at any time to seek
instructions concerning the administration of the Collateral from any court of competent jurisdiction. Agent shall not be under any
obligation to exercise any of the rights or powers granted to Agent by this Agreement and the other Loan Documents at the request or
direction of the Lenders unless Agent shall have been provided by the Lenders with adequate security and indemnity against the
costs, expenses and liabilities that may be incurred by it in compliance with such request or direction.

 

     

     

    

 

EXHIBIT
A

 

ADVANCE
REQUEST

 

	To:	Agent:	Date:	[_________________]
		Hercules Capital, Inc. (the “Agent”)	 	 
	 	400 Hamilton Avenue, Suite 310	 	 
	 	Palo Alto, CA 94301	 	 
	 	email: legal@htgc.com	 	 
	 	Attn: Legal Department	 	 

 

BIOMX
INC., a Delaware corporation (“Borrower”) hereby requests an Advance in the amount of [_____________________] Dollars
($[________________]) (the “Advance Amount”) on [______________] (the “Advance Date”) pursuant to the
Loan and Security Agreement among Borrower, the Guarantors party thereto, Agent and Lenders (the “Agreement”). Capitalized
words and other terms used but not otherwise defined herein are used with the same meanings as defined in the Agreement.

 

Please
[apply the Advance Amount as set forth in the agreed funds flow, and with respect to net proceeds payable to Borrower]:

 

	 	(a)	Issue a check payable to Borrower	________
	 	 	 	 
	 		or	 
	 	 	 	 
	 	(b)	Wire Funds to Borrower’s account	________ 

 

	 	 	Bank:	_____________________________
	 	 	Address:	_____________________________
	 	 		_____________________________
	 	 	ABA Number:	_____________________________
	 	 	Account Number:	_____________________________
	 	 	Account Name:	_____________________________
	 	 	Contact Person:	_____________________________
	 	 	Phone Number	 
	 	 	To Verify Wire Info: 	_____________________________
	 	 	Email address:	_____________________________

 

Borrower
represents that the conditions precedent to the Advance set forth in the Agreement are satisfied and shall be satisfied upon the making
of such Advance, including but not limited to: (i) that no event that has had or could reasonably be expected to have a Material
Adverse Effect has occurred and is continuing; (ii) that the representations and warranties set forth in the Agreement are and shall
be true and correct in all material respects on and as of the Advance Date with the same effect as though made on and as of such date,
except to the extent such representations and warranties expressly relate to an earlier date; (iii) that Borrower is in compliance
with all the terms and provisions set forth in each Loan Document on its part to be observed or performed; and (iv) that as of the
Advance Date, no fact or condition exists that could (or could, with the passage of time, the giving of notice, or both) constitute an
Event of Default under the Loan Documents. Borrower understands and acknowledges that Agent has the right to review the financial information
supporting this representation and, based upon such review in its sole discretion, the Lender may decline to fund the requested Advance.

 

Borrower
hereby represents that each Loan Party’s corporate status and locations have not changed since the date of the Agreement or, if
the Attachment to this Advance Request is completed, are as set forth in the Attachment to this Advance Request.

 

     

     

    

 

Borrower
agrees to notify Agent promptly before the funding of the Loan if any of the matters which have been represented above shall not be true
and correct on the Advance Date and if Agent has received no such notice before the Advance Date then the statements set forth above
shall be deemed to have been made and shall be deemed to be true and correct as of the Advance Date.

 

Executed
as of the date set forth above.

 

	 	BIOMX INC.
	 	 
	 	By:	                  
	 	Name: 	 
	 	Title:	 

 

    2

     

    

 

ATTACHMENT
TO ADVANCE REQUEST

 

Dated:
[_______________________]

 

Borrower
hereby represents and warrants to Agent that each Loan Party’s current name and organizational status is as follows:

 

	 	Name:	BIOMX INC.
	 	Type of organization:	corporation
	 	State of organization:	Delaware
	 	Organization file number:	6600337
	 	 	 
	 	Name:	BIOMX LTD.
	 	Type of organization:	private company
	 	State of organization:	Israel
	 	Organization file number:	515220556
	 	 	 
	 	Name:	RONDINX LTD.
	 	Type of organization:	private company
	 	State of organization:	Israel
	 	Organization file number:	515233997

 

Borrower
hereby represents and warrants to Agent that the street addresses, cities, states and postal codes of the Loan Parties’ current
locations are as follows:

 

BIOMX
INC.:

 

BIOMX
LTD.:

 

RONDINX
LTD.:

 

Borrower
hereby represents and warrants to Agent that the Advance Amount does not exceed the Maximum Term Loan Amount as follows:

 

a.
Advance Amount: $[________________]

 

b.
Maximum Term Loan Amount: $30,000,000

 

c.
Is clause a. less than or equal to clause b.? Yes/Compliant _______ No/Non-Compliant _______

 

[d.
Evidence of achievement of the Tranche [2][3] Milestone is attached hereto.]4

 

 

4
To be included for Tranche 2/3 Advances.

 

    3

     

    

 

EXHIBIT
B

 

NAME,
LOCATIONS, AND OTHER INFORMATION FOR BORROWER

 

1.
Borrowers hereby represents and warrants to Agent that each Loan Party’s current name and organizational status is as follows:

 

	 	Name:	BIOMX INC.
	 	Type of organization:	corporation
	 	State of organization:	Delaware
	 	Organization file number:	6600337
	 	 	 
	 	Name:	BIOMX LTD.
	 	Type of organization:	private company
	 	State of organization:	Israel
	 	Organization file number:	515220556
	 	 	 
	 	Name:	RONDINX LTD.
	 	Type of organization:	private company
	 	State of organization:	Israel
	 	Organization file number:	515233997

 

2.
Borrower represents and warrants to Agent that for five (5) years prior to the Closing Date, Borrower did not do business under any other
name or organization or form except the following:

 

Name:

Used during dates of:

Type of Organization

State of organization:

Organization file Number:

Borrower’s fiscal year ends on _____

Borrower’s federal employer tax identification number is: _______________

 

3.
Borrower represents and warrants to Agent that the Loan Parties’ chief executive office is located at 22 Einstein st, 5th
floor, Ness Ziona, Israel and 36 E. Industrial Rd. First Floor Branford, CT 06405.

 

     

     

    

 

EXHIBIT
C

 

PATENTS,
TRADEMARKS, COPYRIGHTS AND LICENSES

 

Omitted
pursuant to Section (a)(5) of Item 601 of Regulation S-K

 

     

     

    

 

EXHIBIT
D

 

DEPOSIT
ACCOUNTS AND INVESTMENT ACCOUNTS

 

Omitted
pursuant to Section (a)(5) of Item 601 of Regulation S-K

 

 

     

     

    

 

EXHIBIT
E

 

COMPLIANCE
CERTIFICATE

 

Hercules
Capital, Inc. (as “Agent”)

400 Hamilton Avenue, Suite 310

Palo Alto, CA 94301

 

Reference is made to that
certain Loan and Security Agreement dated August 16, 2021 and the Loan Documents (as defined therein) entered into in connection with
such Loan and Security Agreement all as may be amended from time to time (hereinafter referred to collectively as the “Loan
Agreement”) by and among Hercules Capital, Inc. (the “Agent”), the several banks and other financial institutions
or entities from time to time party thereto (collectively, the “Lender”) and BIOMX INC., a Delaware corporation, as
Borrower (the “Company”), BIOMX LTD., a private company incorporated under the laws of the State of Israel, RONDINX
LTD., a private company incorporated under the laws of the State of Israel. All capitalized terms not defined herein shall have the same
meaning as defined in the Loan Agreement. 

The
undersigned is an Officer of the Company, knowledgeable of all Company financial matters, and is authorized to provide certification
of information regarding the Company; hereby certifies, in such capacity, that in accordance with the terms and conditions of the Loan
Agreement, except as set forth below, (i) each Loan Party is in compliance for the period ending ___________ of all covenants, conditions
and terms and (ii) hereby reaffirms that all representations and warranties contained therein are true and correct in all material respects
(to the extent not already qualified by materiality) on and as of the date of this Compliance Certificate with the same effect as though
made on and as of such date, except to the extent such representations and warranties expressly relate to an earlier date. Attached are
the required documents supporting the above certification. The undersigned further certifies that these are prepared in accordance with
GAAP (except for the absence of footnotes with respect to unaudited financial statement and subject to normal year end adjustments) and
are consistent from one period to the next except as explained below.

 

	REPORTING
    REQUIREMENT	REQUIRED	CHECK
    IF ATTACHED
	 	 	 
	Interim
    Financial Statements	Monthly
    within 30 days	 
	 	 	 
	Interim
    Financial Statements	Quarterly
    within 45 days	 
	 	 	 
	Audited
    Financial Statements	FYE
    within 90 days	 

 

ACCOUNTS
OF BORROWER AND ITS SUBSIDIARIES AND AFFILIATES

 

The
undersigned hereby also confirms the below disclosed accounts represent all depository accounts and securities accounts presently open
in the name of each Loan Party or Subsidiary/Affiliate, as applicable.

 

Each
new account that has been opened since delivery of the previous Compliance Certificate is designated below with a “*”.

 

     

     

    

 

	 	 	Depository
    AC #	Financial
    Institution	Account
    Type (Depository / Securities)	Last
    Month Ending Account Balance	Purpose
    of Account
	Loan
    Parties Name/Address:	 
	 	1	 	 	 	 	 
	2	 	 	 	 	 
	3	 	 	 	 	 
	4	 	 	 	 	 
	5	 	 	 	 	 
	6	 	 	 	 	 
	7	 	 	 	 	 
	 
	Loan
    Parties / SUBSIDIARY / AFFILIATE Name/Address	 
	 	1	 	 	 	 	 
	2	 	 	 	 	 
	3	 	 	 	 	 
	4	 	 	 	 	 
	5	 	 	 	 	 
	6	 	 	 	 	 
	7	 	 	 	 	 
	 

 

	FINANCIAL
    COVENANT	REQUIRED	ACTUAL	COMPLIES?
	Minimum
    Qualified Cash	$                           5	$	Yes  No

 

	 	Very Truly Yours,
	 	 	 
	 	BIOMX INC.
	 	 	 
	 	By:	                         
	 	Name: 	 
	 	Title:	 

 

 

5
Effective October 1, 2022 and at all times thereafter; $5,000,000 plus the Qualified Cash A/P Amount except if Market Capitalization
exceeds $250,000,000.

 

     

     

    

 

EXHIBIT
F

 

FORM
OF JOINDER AGREEMENT

 

This
Joinder Agreement (the “Joinder Agreement”) is made and dated as of [ ], 20[ ], and is entered into by and
between__________________., a ___________ corporation (“Subsidiary”), and HERCULES CAPITAL, INC., a Maryland
corporation (as “Agent”).

 

RECITALS

 

A. Subsidiary’s
Affiliate, BiomX Inc., a Delaware corporation (“Company”) has entered into that certain Loan and Security Agreement
dated August 16, 2021, with the several banks and other financial institutions or entities from time to time party thereto as lender
(collectively, the “Lenders”) and the Agent, as such agreement may be amended, restated or modified (the “Loan
Agreement”), together with the other agreements executed and delivered in connection therewith; 

B.
Subsidiary acknowledges and agrees that it will benefit both directly and indirectly from Company’s execution of the Loan Agreement
and the other agreements executed and delivered in connection therewith;

 

AGREEMENT

 

NOW
THEREFORE, Subsidiary and Agent agree as follows:

 

		1.	The
                                            recitals set forth above are incorporated into and made part of this Joinder Agreement. Capitalized
                                            terms not defined herein shall have the meaning provided in the Loan Agreement.
	 	 	 

		2.	By
                                            signing this Joinder Agreement, Subsidiary shall be bound by the terms and conditions of
                                            the Loan Agreement the same as if it were the Borrower (as defined in the Loan Agreement)
                                            under the Loan Agreement, mutatis mutandis, provided however, that (a) with respect to (i)
                                            Section 5.1 of the Loan Agreement, Subsidiary represents that it is an entity duly organized,
                                            legally existing and in good standing under the laws of [ ], (b) neither Agent nor the Lenders
                                            shall have any duties, responsibilities or obligations to Subsidiary arising under or related
                                            to the Loan Agreement or the other Loan Documents, (c) that if Subsidiary is covered by Company’s
                                            insurance, Subsidiary shall not be required to maintain separate insurance or comply with
                                            the provisions of Sections 6.1 and 6.2 of the Loan Agreement, and (d) that as long as Company
                                            satisfies the requirements of Section 7.1 of the Loan Agreement, Subsidiary shall not have
                                            to provide Agent separate Financial Statements. To the extent that Agent or the Lenders has
                                            any duties, responsibilities or obligations arising under or related to the Loan Agreement
                                            or the other Loan Documents, those duties, responsibilities or obligations shall flow only
                                            to Company and not to Subsidiary or any other Person or entity. By way of example (and not
                                            an exclusive list): (i) Agent’s providing notice to Company in accordance with the
                                            Loan Agreement or as otherwise agreed among Company, Agent and the Lenders shall be deemed
                                            provided to Subsidiary; (ii) a Lender’s providing an Advance to Company shall be deemed
                                            an Advance to Subsidiary; and (iii) Subsidiary shall have no right to request an Advance
                                            or make any other demand on the Lenders.
	 	 	 

		3.	Subsidiary
                                            agrees not to certificate its equity securities without Agent’s prior written consent,
                                            which consent may be conditioned on the delivery of such equity securities to Agent in order
                                            to perfect Agent’s security interest in such equity securities.
	 	 	 

		4.	Subsidiary
                                            acknowledges that it benefits, both directly and indirectly, from the Loan Agreement, and
                                            hereby waives, for itself and on behalf on any and all successors in interest (including
                                            without limitation any assignee for the benefit of creditors, receiver, bankruptcy trustee
                                            or itself as debtor-in-possession under any bankruptcy proceeding) to the fullest extent
                                            provided by law, any and all claims, rights or defenses to the enforcement of this Joinder
                                            Agreement on the basis that (a) it failed to receive adequate consideration for the execution
                                            and delivery of this Joinder Agreement or (b) its obligations under this Joinder Agreement
                                            are avoidable as a fraudulent conveyance.
	 	 	 

		5.	As
                                            security for the prompt, complete and indefeasible payment when due (whether on the payment
                                            dates or otherwise) of all the Secured Obligations, Subsidiary grants to Agent a security
                                            interest in all of Subsidiary’s right, title, and interest in and to the Collateral.

 

[REMAINDER
OF PAGE INTENTIONALLY LEFT BLANK]

 

     

     

    

 

[SIGNATURE
PAGE TO JOINDER AGREEMENT]

 

	SUBSIDIARY:	 
	 	 	 
	[                                  ]	
	 	                     	 
	By:	                                        	 
	Name: 	 	 
	Title: 	 	 
	 	 	 
	Address:	 
	 	 	 
	[_________________]	 
	Telephone:	 
	email: 	 	 
	 	 	 
	AGENT:	 
	 	 	 
	HERCULES CAPITAL, INC.	 
	 	 	 
	By:	 	 
	Name:	 	 
	Title: 	 	 
	 	 	 
	Address:	 
	 	 
	400 Hamilton Ave., Suite 310	 
	Palo Alto, CA 94301	 
	email: legal@htgc.com	 
	Telephone:  650-289-3060	 

 

     

     

    

 

EXHIBIT
G

 

[reserved]

 

     

     

    

 

EXHIBIT
H

 

ACH
DEBIT AUTHORIZATION AGREEMENT

 

Hercules
Capital, Inc.

400 Hamilton Avenue, Suite 310

Palo Alto, CA 94301

 

Re:
Loan and Security Agreement dated _______________, 2021 (the “Agreement”) by and among BiomX Inc., a Delaware
corporation (“Borrower”) and Hercules Capital, Inc., as agent (“Company”) and the
lenders party thereto (collectively, the “Lenders”)

 

In
connection with the above referenced Agreement, the Borrower hereby authorizes the Company to initiate debit entries for (i) the periodic
payments due under the Agreement and (ii) out-of-pocket legal fees and costs incurred by Agent or the Lenders pursuant to Section 11.12
of the Agreement to the Borrower’s account indicated below. The Borrower authorizes the depository institution named below to debit
to such account.

 

	Depository
    Name	Branch
	City	State
    and Zip Code
	Transit/ABA
    Number	Account
    Number

 

This
authority will remain in full force and effect so long as any amounts are due under the Agreement.

 

	BIOMX INC.	 
	 	 	 
	By:	                                                             	 
	Name: 	 	 
	Title:	 	 
	 	 	 
	Date: _______________________, 2021	 

 

     

     

    

 

EXHIBIT
I

 

[reserved]

 

     

     

    

 

EXHIBIT
J-1

 

FORM
OF U.S. TAX COMPLIANCE CERTIFICATE

 

(For
Foreign Lenders That Are Not Partnerships For U.S. Federal Income Tax Purposes)

 

Reference is hereby made
to the Loan and Security Agreement dated as of August 16, 2021 (as amended, supplemented or otherwise modified from time to time, the
“Loan Agreement”) by and among BiomX Inc., a Delaware corporation
(“BIOMX”), BIOMX LTD., a private company incorporated under the laws of the State of Israel, reg. no 515220556
(“BIOMX ISR”), RONDINX LTD., a private company incorporated under the laws of the State of Israel, reg. no 515233997
(“RONDINX” and together with BIOMX and BIOMX ISR, and any other Person party to the Loan Agreement from time
to time as a guarantor or borrower, collectively, the “Borrower”), the several banks and other financial institutions
or entities from time to time parties to the Loan Agreement (collectively, referred to as the “Lenders”), and
HERCULES CAPITAL, INC., a Maryland corporation, in its capacity as administrative agent and collateral agent for itself and the Lenders
(in such capacity, the “Agent”).

Pursuant
to the provisions of Addendum 1 of the Loan Agreement, the undersigned hereby certifies that (i) it is the sole record and beneficial
owner of the Loan(s) (as well as any promissory note(s) evidencing such Loan(s)) in respect of which it is providing this certificate,
(ii) it is not a “bank” within the meaning of Section 881(c)(3)(A) of the Code, (iii) it is not a “ten percent shareholder”
of the Borrower within the meaning of Section 871(h)(3)(B) of the Code and (iv) it is not a “controlled foreign corporation”
related to the Borrower as described in Section 881(c)(3)(C) of the Code.

 

The
undersigned has furnished the Agent and the Borrower with a certificate of its non-U.S. Person status on IRS Form W-8BEN or IRS Form
W-8BEN-E. By executing this certificate, the undersigned agrees that (1) if the information provided in this certificate changes, the
undersigned shall promptly so inform the Borrower and the Agent, and (2) the undersigned shall have at all times furnished the Borrower
and the Agent with a properly completed and currently effective certificate in either the calendar year in which each payment is to be
made to the undersigned, or in either of the two calendar years preceding such payments.

 

Unless
otherwise defined herein, terms defined in the Loan Agreement and used herein shall have the meanings given to them in the Loan Agreement.

 

	Date: _____________ ___, 20___	[NAME OF LENDER]
	 	 	 
		By:	                        
		Name: 	 
		Title:	 

 

     

     

    

 

EXHIBIT
J-2

 

FORM
OF U.S. TAX COMPLIANCE CERTIFICATE

 

(For
Foreign Participants That Are Not Partnerships For U.S. Federal Income Tax Purposes)

 

Reference is hereby made
to the Loan and Security Agreement dated as of August 16, 2021 (as amended, supplemented or otherwise modified from time to time, the
“Loan Agreement”) by and among BiomX Inc., a Delaware corporation
(“BIOMX”), BIOMX LTD., a private company incorporated under the laws of the State of Israel, reg. no 515220556
(“BIOMX ISR”), RONDINX LTD., a private company incorporated under the laws of the State of Israel, reg. no 515233997
(“RONDINX” and together with BIOMX and BIOMX ISR, and any other Person party to the Loan Agreement from time
to time as a guarantor or borrower, collectively, the “Borrower”), the several banks and other financial institutions
or entities from time to time parties to the Loan Agreement (collectively, referred to as the “Lenders”), and
HERCULES CAPITAL, INC., a Maryland corporation, in its capacity as administrative agent and collateral agent for itself and the Lenders
(in such capacity, the “Agent”).

Pursuant
to the provisions of Addendum 1 of the Loan Agreement, the undersigned hereby certifies that (i) it is the sole record and beneficial
owner of the participation in respect of which it is providing this certificate, (ii) it is not a “bank” within the meaning
of Section 881(c)(3)(A) of the Code, (iii) it is not a “ten percent shareholder” of the Borrower within the meaning of Section
871(h)(3)(B) of the Code and (iv) it is not a “controlled foreign corporation” related to the Borrower as described in Section
881(c)(3)(C) of the Code.

 

The
undersigned has furnished its participating Lender with a certificate of its non-U.S. Person status on IRS Form W-8BEN or IRS Form W-8BEN-E.
By executing this certificate, the undersigned agrees that (1) if the information provided in this certificate changes, the undersigned
shall promptly so inform such Lender in writing, and (2) the undersigned shall have at all times furnished such Lender with a properly
completed and currently effective certificate in either the calendar year in which each payment is to be made to the undersigned, or
in either of the two calendar years preceding such payments.

 

Unless
otherwise defined herein, terms defined in the Loan Agreement and used herein shall have the meanings given to them in the Loan Agreement.

 

	Date: _____________ ___, 20___	[NAME OF PARTICIPANT]
	 	 	 
		By:	                        
		Name: 	 
		Title:	 

 

     

     

    

 

EXHIBIT
J-3

 

FORM
OF U.S. TAX COMPLIANCE CERTIFICATE

 

(For
Foreign Participants That Are Partnerships For U.S. Federal Income Tax Purposes)

 

Reference is hereby made
to the Loan and Security Agreement dated as of August 16, 2021 (as amended, supplemented or otherwise modified from time to time, the
“Loan Agreement”) by and among BiomX Inc., a Delaware corporation
(“BIOMX”), BIOMX LTD., a private company incorporated under the laws of the State of Israel, reg. no 515220556
(“BIOMX ISR”), RONDINX LTD., a private company incorporated under the laws of the State of Israel, reg. no 515233997
(“RONDINX” and together with BIOMX and BIOMX ISR, and any other Person party to the Loan Agreement from time
to time as a guarantor or borrower, collectively, the “Borrower”), the several banks and other financial institutions
or entities from time to time parties to the Loan Agreement (collectively, referred to as the “Lenders”), and
HERCULES CAPITAL, INC., a Maryland corporation, in its capacity as administrative agent and collateral agent for itself and the Lenders
(in such capacity, the “Agent”).

Pursuant
to the provisions of Addendum 1 of the Loan Agreement, the undersigned hereby certifies that (i) it is the sole record owner of the participation
in respect of which it is providing this certificate, (ii) its direct or indirect partners/members are the sole beneficial owners of
such participation, (iii) with respect to such participation, neither the undersigned nor any of its direct or indirect partners/members
is a “bank” extending credit pursuant to a loan agreement entered into in the ordinary course of its trade or business within
the meaning of Section 881(c)(3)(A) of the Code, (iv) none of its direct or indirect partners/members is a “ten percent shareholder”
of the Borrower within the meaning of Section 871(h)(3)(B) of the Code and (v) none of its direct or indirect partners/members is a “controlled
foreign corporation” related to the Borrower as described in Section 881(c)(3)(C) of the Code.

 

The
undersigned has furnished its participating Lender with IRS Form W-8IMY accompanied by one of the following forms from each of its partners/members
that is claiming the portfolio interest exemption: (i) an IRS Form W-8BEN or IRS Form W-8BEN-E or (ii) an IRS Form W-8IMY accompanied
by an IRS Form W-8BEN or IRS Form W-8BEN-E from each of such partner’s/member’s beneficial owners that is claiming the portfolio
interest exemption. By executing this certificate, the undersigned agrees that (1) if the information provided in this certificate changes,
the undersigned shall promptly so inform such Lender and (2) the undersigned shall have at all times furnished such Lender with a properly
completed and currently effective certificate in either the calendar year in which each payment is to be made to the undersigned, or
in either of the two calendar years preceding such payments.

 

Unless
otherwise defined herein, terms defined in the Loan Agreement and used herein shall have the meanings given to them in the Loan Agreement.

 

	Date: _____________ ___, 20___	[NAME OF PARTICIPANT]
	 	 	 
		By:	                        
		Name: 	 
		Title:	 

 

     

     

    

 

EXHIBIT
J-4

 

FORM
OF U.S. TAX COMPLIANCE CERTIFICATE

 

(For
Foreign Lenders That Are Partnerships For U.S. Federal Income Tax Purposes)

 

Reference is hereby made
to the Loan and Security Agreement dated as of August 16, 2021 (as amended, supplemented or otherwise modified from time to time, the
“Loan Agreement”) by and among BiomX Inc., a Delaware corporation
(“BIOMX”), BIOMX LTD., a private company incorporated under the laws of the State of Israel, reg. no 515220556
(“BIOMX ISR”), RONDINX LTD., a private company incorporated under the laws of the State of Israel, reg. no
515233997 (“RONDINX” and together with BIOMX and BIOMX ISR, and any other Person party to the Loan Agreement
from time to time as a guarantor or borrower, collectively, the “Borrower”), the several banks and other financial
institutions or entities from time to time parties to the Loan Agreement (collectively, referred to as the “Lenders”),
and HERCULES CAPITAL, INC., a Maryland corporation, in its capacity as administrative agent and collateral agent for itself and the Lenders
(in such capacity, the “Agent”). 

Pursuant
to the provisions of Addendum 1 of the Loan Agreement, the undersigned hereby certifies that (i) it is the sole record owner of the Loan(s)
(as well as any promissory note(s) evidencing such Loan(s)) in respect of which it is providing this certificate, (ii) its direct or
indirect partners/members are the sole beneficial owners of such Loan(s) (as well as any promissory note(s) evidencing such Loan(s)),
(iii) with respect to the extension of credit pursuant to this Loan Agreement or any other Loan Document, neither the undersigned nor
any of its direct or indirect partners/members is a “bank” extending credit pursuant to a loan agreement entered into in
the ordinary course of its trade or business within the meaning of Section 881(c)(3)(A) of the Code, (iv) none of its direct or indirect
partners/members is a “ten percent shareholder” of the Borrower within the meaning of Section 871(h)(3)(B) of the Code and
(v) none of its direct or indirect partners/members is a “controlled foreign corporation” related to the Borrower as described
in Section 881(c)(3)(C) of the Code.

 

The
undersigned has furnished the Agent and the Borrower with IRS Form W-8IMY accompanied by one of the following forms from each of its
partners/members that is claiming the portfolio interest exemption: (i) an IRS Form W-8BEN or IRS Form W-8BEN-E or (ii) an IRS Form W-8IMY
accompanied by an IRS Form W-8BEN or IRS Form W-8BEN-E from each of such partner’s/member’s beneficial owners that is claiming
the portfolio interest exemption. By executing this certificate, the undersigned agrees that (1) if the information provided in this
certificate changes, the undersigned shall promptly so inform the Borrower and the Agent, and (2) the undersigned shall have at all times
furnished the Borrower and the Agent with a properly completed and currently effective certificate in either the calendar year in which
each payment is to be made to the undersigned, or in either of the two calendar years preceding such payments.

 

Unless
otherwise defined herein, terms defined in the Loan Agreement and used herein shall have the meanings given to them in the Loan Agreement.

 

	Date: _____________ ___, 20___	[NAME OF LENDER]
	 	 	 
		By:	                        
		Name: 	 
		Title:	 

 

     

     

    

 

SCHEDULE
1.1

 

 COMMITMENTS

 

	LENDERS	 	First tranche COMMITMENT	 	 	SECOND TRANCHE COMMITMENT	 	 	THIRD TRANCHE COMMITMENT	 
	Hercules capital, inc.	 	$	12,000,000	 	 	$	8,000,000	 	 	$	4,000,000	 
	HERCULES PRIVATE GLOBAL VENTURE GROWTH FUND I L.P.	 	$	3,000,000	 	 	$	2,000,000	 	 	$	1,000,000	 
	TOTAL COMMITMENTS	 	$	15,000,000	 	 	$	10,000,000	 	 	$	5,000,000	 

 

     

     

    

 

Schedule
4.4

 

Post-closing
deliveries

	1.		Within 2 Business Days of the Closing Date, the Account
Control Agreement with respect to Borrower’s account maintained with Signature Bank.

	2.		Within 3 Business Days of the Closing Date, a certificate
of insurance with respect to risk property damage insurance in accordance with Section 6.2.

	3.		Within 5 Business Days of the Closing Date, the Account
Control Agreement with respect to Borrower’s account maintained with Oppenheimer & Co., Inc.

	4.		Within 30 days of the Closing Date, endorsements with
respect to liability insurance and risk property damage insurance in accordance with Section 6.2.

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00332-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00332-of-00352.parquet"}]]