Document:

Exhibit 10.9

 

Horn & Co. June 19, 2018

 

Date:
June 25, 2018

 

AMENDED
AND RESTATED EXECUTIVE SERVICES AGREEMENT

 

On
April 23, 2018, we entered into an agreement with Fidelis LLC (“Fidelis” or “Consultant”)
to provide expert consulting services in the area of Broker-Dealer compliance and operations effective as of April 1, 2018 (the
“Effective Date”). As of the Effective Date, Fidelis exclusively provided Matt Rozzi to serve as the Chief
Compliance Officer and Chief Operating Officer of INX Services, Inc. (“INX US”), a company incorporated under
the laws of Delaware, USA and a wholly owned subsidiary of INX Ltd (“INX Gib”) (“INX Gib” and “INX
US”, are jointly, the “Group”), under the terms set forth below (the “First Agreement”).
It is the intention of INX US and Fidelis (each a “Party”, together “Parties”), that upon
the Qualifying Events defined below, Mr. Rozzi will join INX US as an employee, on the terms set out below, to be embodied in
an employment agreement at that time (the “Employment Agreement”). The First Agreement is hereby amended and
is replaced in its entirety with this Amended and Restated Agreement (the “Agreement”), such that this Agreement shall,
commencing as of the Effective Date, replace any previous agreement, whether oral or written, between the Parties or anyone on
their behalf in connection with the subject matter.

 

		1.	Services.
                                         As the Chief Compliance Officer & Chief Operating Officer of INX US (the “Position”),
                                         Mr. Rozzi will provide the following services (“Services”):

 

		1.1.	Coordinate
the preparation and filing of applications to the Financial Industry Regulatory Authority and the Commodity Futures Trading Commission
for BD, ATP, SEF, DCM and other similar licenses and approvals, as shall be instructed by the Group.

 

		1.2.	Establish
effective supervision and control of the INX US activities to ensure it complies with applicable laws and regulations.

 

		1.3.	Review
                                         and approve new client accounts introduced to INX US by the Group; specifically ensure
                                         that the know-your-client (KYC) information is complete, comprehensive and complies with
                                         applicable laws and regulations;

 

		1.4.	Daily
review for errors, unusual activities, and compliance with all applicable laws and regulations according to the Groups policies;

 

		1.5.	Coordinate
staff training programs to keep INX US employees and officers aware of changes and updates in applicable legislation;

 

		1.6.	Monitor
INX US’ marketing activities as well as the sales practices of INX US representatives;

 

		1.7.	Review,
respond, and investigate client complaints within a reasonable period;

 

		1.8.	Assist,
guide, and contribute from his expertise in steering INX US operations;

 

		1.9.	Direct and oversee INX US’ fiscal, operation, and
facilities, including without limitation, supervision of its business services and general administration;

 

		1.10.	Participate
in various meetings of the management of the Group (in person or via remote
communication, as shall be desirable for effective participation);

 

		1.11.	Perform
all other tasks customarily related to the Position.
	 	 	 
		1.12.	Mr.
                                         Rozzi will report directly to Mr. Shy Datika (the “Supervising Officer”)
                                         in his provision of the Services.

 

    	 	1	 

     

    

 

		2.	Payment
                                         and Expenses.

 

		2.1.	Payment.
                                         As compensation for the Services to be provided by Consultant pursuant to the terms of
                                         this Agreement, INX US shall pay to the Consultant a monthly retainer of US$ 12,500 per
                                         month (the “Fee”). Consultant expects to provide no less than eighty
                                         (80) hours per month. Consultant shall invoice INX US on a monthly basis for the services
                                         provided. Payment will be within 20 business days following receipt of an invoice by
                                         INX US.

 

		2.2.	Bonus.
                                         Upon and subject to the approval of the first US Broker Dealer license or Alternative
                                         Trading System license by FINRA or the SEC to any of the Group companies, Consultant
                                         will be entitled to a one-time bonus payment in the amount of US$ 60,000.

 

		2.3.	Expenses.
                                         INX US shall reimburse expenses incurred by Consultant in the performance of Services
                                         to the extent such expenses have been approved in advance and in writing by the Supervising
                                         Officer.

 

		3.	Independent
                                         Contractor. It is understood and agreed that Consultant shall perform the Services
                                         as an independent contractor of INX US prior to any Qualifying Event. Consultant shall
                                         not be deemed to be an employee of INX US. INX US shall have no right to control or direct
                                         the detail, manner or means by which Consultant accomplishes the results of the consulting
                                         Services. Consultant shall not be entitled to any benefits provided by INX US to its
                                         employees under any employment policy or any employment benefit plan. Consultant agrees
                                         that Consultant/Mr. Rozzi, as applicable, shall be solely responsible for any and all
                                         taxes, levies, social benefits, insurance payments and other payments due on payments
                                         and/or other benefits received by Consultant from INX US hereunder (including, inter
                                         alia, in connection with the Salary, the Fee, the Tokens, the Option or otherwise
                                         in connection with its/his engagement or employment with the Group) and shall pay all
                                         such taxes associated with payments received from INX US in a timely manner and as prescribed
                                         by law. The Company shall be entitled to withhold, deduct or set-off any amounts due
                                         to it from Consultant or as may be required by, and subject to, applicable law, from
                                         payments due to Consultant hereunder or in connection with this Agreement.

 

		4.	Other
Work By Consultant. INX US agrees that until the consummation of a Qualifying Event the Consultant will be entitled to continue
current business engagements with entities other than the Group entities, outside the scope of Services hereunder. Provided however,
that such activities shall be reported in advance and in writing to the Supervising Officer and that none of such activities or
entities shall compete or otherwise be in conflict to the business of the Group.

 

		5.	Term and
                                                                                                                                                                                Termination. The term of this Agreement shall commence upon its execution and continue until the occurrence of a
                                                                                                                                                                                Qualifying Event (as defined in paragraph 6 below). Upon the occurrence of a Qualifying Event, the Parties intend to enter
                                                                                                                                                                                into an Employment
Agreement, the terms of which are set out below. This Agreement may be renewed for additional terms on the mutual written agreement
of the Parties, at any time prior to the termination of the Agreement. Either Party may terminate this Agreement, with or without
cause, upon 60 days written notice to the other Party.

 

    	 	2	 

     

    

 

		6.	Qualifying
                                         Event. Following 6 months period after declaration by the SEC of the effectiveness
                                         of the public offering of the tokens (the “Tokens”) generated by INX
                                         Gib. (the “Qualifying Event”), Mr. Rozzi will become a full-time
                                         employee and serve as Chief Compliance Officer & Chief Operating Officer of INX US
                                         on the terms set out below:

 

		6.1.	Salary
                                         at annual rate of US$ 300,000 (US$ 25,000 per month) (the “Salary”)
                                         for a full-time position. The payment of the Salary shall be effective on of the date
                                         on which the proceeds of the Qualifying Event are received by the Group. The Salary will
                                         be payable on a monthly basis in accordance with the regular payroll practices of INX
                                         US.

 

		6.2.	Benefits
appropriate to an executive level employee, including but not limited to health, dental, and vision insurance, 401K or comparable
retirement plan, and other benefits to be determined.

 

		6.3.	A
non-solicitation and non-competition agreement.

 

		7.	INX
US agrees to pay Mr. Rozzi the following bonus payments:

 

		7.1.	Upon
and subject to the (i) consummation of a Qualifying Event; and (ii) the approval of a trading license by the CFTC to any Group
company during the term of this Agreement or during Mr. Rozzi’s employment period, Mr. Rozzi will be entitled to a one-time
bonus payment in the amount of US$ 40,000; and

 

		7.2.	Upon
and subject to the (i) consummation of a Qualifying Event; and (ii) the consummation of key performance indicators which will
be determined by the Board of Directors of INX US, Mr. Rozzi will be entitled to a one-time bonus payment in the amount of US$
50,000.

 

		8.	Upon
and subject to the occurrence of the Qualifying Event during Mr. Rozzi’s employment period, Mr. Rozzi will be entitled to
purchase 350,000 Tokens in consideration for an aggregate amount of US$ 3,500, subject to the terms of a Token vesting plan and
lock up provisions which will be adopted by the Group.

 

		9.	Upon
                                         and subject to the adoption of a Share Ownership and Option Plan by INX Gib (as amended,
                                         the “Plan” and the “Grant Date”), INX Gib will
                                         grant to Mr. Rozzi equity compensation awards of Ordinary Shares of INX Gib under the
                                         Plan as follows:

 

		9.1.	An
                                         option to purchase a number of Option Shares constituting 0.5% of the share capital of
                                         INX Gib on a fully diluted basis as of the date hereof (subject to future dilutions)
                                         at a price per share equal to the Fair Market Value of the option shares as of the Grant
                                         Date (the “Option”).

 

		9.2.	The
Option will vest and become exercisable as follows: 1/4 of the Option shall vest upon each anniversary of the effective date of
the Employment Agreement subject to Mr. Rozzi’s continuous engagement with the Group at such time, such that, subject to
Mr. Rozzi’s continuous engagement with the Group at such time, the
entire Option shall be vested and exercisable upon the 4th anniversary of the effective date of the Employment Agreement.

 

		9.3.	The
Option shall be subject to the terms and conditions of the Plan.

 

    	 	3	 

     

    

 

		10.	INX
US undertakes that (save for cases of termination for cause by INX US, which shall be defined in the Employment Agreement) the
term of Mr. Rozzi’s employment with INX US shall be no less than 1 year commencing as of the effective date of the Employment
Agreement.

 

		11.	The
                                         Group’s technology, trade secrets, business plans, financial information and any
                                         other information, including technical, business and financial information provided or
                                         disclosed to the Consultant by the Group (“Confidential Information”)
                                         shall be kept in strict confidence and the Consultant shall be subject to the following
                                         obligations:

 

		■	The
Consultant shall use the Confidential Information received solely in furtherance of the business of the Group;

 

		■	The
Consultant shall further refrain from copying or disclosing to any third party, the Confidential Information received, except
with the Group’s prior written consent; and

 

		■	Upon
the written request of the Group, the Consultant will promptly destroy or return any and all copies on any media containing such
Confidential Information, except that the Consultant may keep one (1) copy thereof for the purpose of complying with the terms
hereto.

 

		12.	This
confidentiality undertaking shall be perpetual, until such time as the Confidential Information shall have become public domain
through no fault by Consultant. Additional customary confidentiality obligations and undertakings shall be set forth in the Employment
Agreement.

 

		13.	All intellectual
                                                                                                                                                                                  property rights made by the Consultant in and during or in connection with the performance of the Services or as a
                                                                                                                                                                                  result from the Confidential Information shall be sole property of the Group. Additional customary  IP ownership
                                                                                                                                                                                  obligations and undertakings shall be set forth in the Employment Agreement.

 

		14.	Entire
Agreement. This Agreement contains the entire agreement between the parties with respect to the subject matter herein. This
Agreement supersedes and replaces any existing agreement entered into by Consultant and INX US relating generally to the same
subject matter, and may be amended or modified only in a writing signed by the parties.

 

	/s/ James Crossley	 	/s/ James Crossley
	INX Ltd.	 	INX Services, Inc.
	 	 	 	 	 
	By: 	James Crossley	 	By: 	James Crossley
	Its: 	25 June 2018	 	Its: 	25 June 2018

 

    	 	4	 

     

    

 

	 	Fidelis LLC
	 	 	 
	 	By:	
	 	Its:	Principal

 

Agreed and Accepted:

 

/s/ Matt Rozzi

 

Matt Rozzi

 

    	 	5Exhibit 10.10

 

Horn & Co. June 19, 2018

 

AMENDED AND RESTATED CONSULTANCY AGREEMENT

 

THIS AMENDED AND RESTATED CONSULTANCY AGREEMENT (this “Agreement”) is
made as of June 25, 2018 and effective as of the Effective Date, by and between INX Ltd., a company organized under the laws
of Gibraltar (the “Company”) and Ms. Maia Naor (the “Consultant”) (the Company and the
Consultant shall sometimes be referred to, each as a “Party” and collectively, as the “Parties”).

 

	WHEREAS,	the Parties entered into an Agreement dated as of the Effective
Date (the “First Agreement”); and

 

	WHEREAS,	the Parties wish to amend the First Agreement and replace
it in its entirety with this Amended and Restated Agreement (the “Agreement”), such that this Agreement shall,
commencing as of the Effective Date, replace any previous agreement, whether oral or written, between the Parties or anyone on
their behalf in connection with the subject matter; and

 

	WHEREAS,	the Company is engaged, inter
alia, in the development of a unique marketplace for virtual currency exchange and related technologies
(the “Technology”); and

 

	WHEREAS,	the Company desires to engage the Consultant and the Consultant
desires to serve the Company as a consultant, on the terms and conditions hereinafter set forth.

 

NOW, THEREFORE, based on the representations contained
herein and in consideration of the mutual promises and covenants set forth herein, the Parties agree as follows:

 

		1.	Services

 

		1.1.	Commencing as of November 1, 2017 (the “Effective
Date”), the Consultant will perform such services and will have such duties, authorities and responsibilities, as delegated
by and instructed by the Board of Directors of the Company (the “Board of Directors”), and be reporting directly
to the Board of Directors. Such services, together with any other services and tasks assigned to the Consultant by the Board of
Directors, from time to time shall be referred to herein as the “Services”. The Consultant shall serve in such
position until such time as the Board of Directors, at its sole discretion, determines otherwise and/or appoints another person
to such position.

 

		1.2.	The Consultant acknowledges and agrees that the performance
of the Services hereunder may require international travel by Consultant at the Company’s request.

 

		1.3.	The execution and delivery of this Agreement and the
fulfillment of the terms hereof will not constitute a default under or breach of any agreement and/or undertaking and/or other
instrument to which the Consultant is a party, and do not require the consent of any person or entity which has not been obtained
prior to the execution hereto.

 

		1.4.	The Consultant represents and warrants that it shall
comply with all applicable laws and regulations in the performance the duties and obligations hereunder.

 

     

     

    

 

		2.	Representations and Warranties

 

Without derogating from the above, the Consultant hereby represents
and warrants to the Company as follows:

 

		2.1.	This Agreement constitutes the legal, valid and binding
obligation of the Consultant enforceable against it in accordance with its terms.

 

		2.2.	Neither the execution and delivery of this Agreement
nor the provision of the Services to the Company by the Consultant, will conflict with or constitute a default under any prior
employment agreement, contract, or other similar instrument to which the Consultant is a party or by which the Consultant is bound
(including, but not limited to, non-compete undertakings).

 

		3.	Compensation

 

As full consideration for the Services during the Term on this
Agreement, the Consultant shall be entitled to the Monthly Fee as set forth below:

 

		3.1.	Monthly Fee. Until
the ICO Effective Date, the Consultant shall not be entitled to any fee in consideration for its Services. Subject to and following
the ICO Effective Date, the Company shall pay the Consultant a monthly consulting fee which shall be further agreed upon in writing
by the Consultant and the Company and be adjusted from time to time in accordance with the provisions hereof (the “Monthly
Fee”).

 

		3.1.A	A one-time bonus payment in the amount of US$ 114,000
shall be paid to the Consultant subject to and following the ICO Effective Date.

 

		3.2.	The
Parties acknowledge that the Company contemplates to initiate an initial coin offering for issuance of its tokens (the
“ICO” and the “Tokens”).

 

		3.3.	For the purpose of this Section 3, the ICO Effective
Date shall mean: 6 months after declaration by the SEC of the effectiveness of the ICO.

 

		3.4.	Expenses. Without derogating from the above,
the Company shall reimburse the Consultant for all out-off pocket expenses reasonably required in the performance of the Services
under this Agreement. Reimbursement as aforementioned shall be paid within thirty (30) days of receipt by the Company of an invoice
and expense report (including receipts) by the Consultant. Reimbursement for extraordinary expenses, including travel expenses,
shall be subject to the advance approval of the Company of the necessity for and the reasonableness of such expenses, provided
that international travel expenses will be paid in advance.

  

    	 	-2-	 

     

    

  

		4.	Proprietary Rights

 

		4.1.	The Consultant agrees and declares that the Technology
and any and all products, improvements, derivations, materials, processes, techniques, know how and/or proceeds and any and all
inventions, ideas, discoveries, concepts, works of authorship, designs, data results or initiatives conceived, conducted, developed,
reduced to practice, compiled, created, written, authored, made and/or produced by the Consultant, alone or jointly with others,
pursuant to, in connection with, resulting or arising from this Agreement and/or the provision of the Services to the Company,
or trade secrets of the Company, whether within the scope of the provision of the Services hereunder to the Company or otherwise
and whether during the Term of this Agreement, prior thereto or thereafter, directly or indirectly related to the Technology of
the Company as currently conducted and/or proposed to be conducted (the “Inventions”) and any and all right,
title and interest in and to the Inventions, including without limitation, all patents, copyrights, trademarks, trade names, moral
rights and other intellectual, industrial and/or proprietary rights and applications, extensions and renewals thereof (together
with the Inventions, the “Proprietary Rights”), shall be the sole and exclusive property of the Company, its
successors and assigns (for the purpose of this Section 4, collectively, the “Company”), and that the Consultant
will not have any rights or title whatsoever thereto. All works authored by the Consultant pursuant to this Agreement, including,
without limitation, the Inventions, shall be deemed “works made for hire”.

 

		4.2.	If and to the extent the Company’s sole and exclusive
ownership of the Proprietary Rights, in whole or in part, is not recognizable for any reason whatsoever, the Consultant hereby
irrevocably transfers and assigns to the Company, solely and exclusively, all its rights, title and interest now and hereafter
acquired in and to all Proprietary Rights (without any payments, liabilities or restrictions to any person or third party) in
any and all media now known or hereafter devised, and all claims and causes of action of any kind with respect to any of the foregoing, throughout the world in perpetuity, and, when not otherwise assignable herein, agrees and undertakes to assign in the future
to the Company all right, title and interest in and to any and all such Proprietary Rights (and all proprietary rights with respect
thereto) and further undertakes to execute all necessary documentation and take all further action as may be required in order
to perform such assignment, at the Company’s expense.

 

		4.3.	In the event that pursuant to any applicable law the
Consultant retains any rights in and to the Proprietary Rights that cannot be assigned to the Company, the Consultant hereby unconditionally
and irrevocably waives the enforcement of all such rights, and all claims and causes of action of any kind with respect to any
of the foregoing and agrees, at the request and expense of the Company, to consent to and join in any action to enforce such rights
and to procure a waiver of such rights from the holders of such rights, if any.

  

    	 	-3-	 

     

    

 

		4.4.	In the event that the
Consultant retains any rights in and to Proprietary Rights that cannot be assigned to the Company and cannot be waived, the Consultant
hereby grants the Company an exclusive, perpetual, worldwide, royalty-free license to exploit, use, develop, perform, modify,
change, reproduce, publish and distribute, with the right to sublicense and assign such rights, and all claims and causes of action
of any kind with respect to any of the foregoing, in and to the Proprietary Rights, in any way the Company sees fit and for any
purpose whatsoever. Without derogating from the above, the Consultant hereby forever waives and agrees never to assert any and
all rights of paternity or integrity, any right to claim authorship of any Invention, to object to any distortion,
mutilation or other modification of, or other derogatory action in relation to any Invention, whether or not such would be prejudicial
to its honor or reputation, and any similar right, existing under judicial or statutory law of any country in the world, or under
any treaty, even after termination of its work on behalf of the Company.

 

		4.5.	Without derogating from the above, any and all material
(including, without limitation, software, designs, documentation, memoranda, notes, reports, manuals, patterns, programs, specifications,
prototypes, formulas, drawings, records, data or other technical or proprietary information), and any copies or abstracts thereof,
whether or not of a secret or confidential nature, furnished to the Consultant by the Company or conceived, conducted, developed,
reduced to practice, compiled, created, written, authored, made and/or produced by the Consultant, alone or jointly with others,
pursuant to, in connection with, resulting or arising from this Agreement and/or the provision of Services to the Company, or
trade secrets of the Company, whether within the scope of the consultancy with the Company or otherwise and whether during the
Term of this Agreement, prior thereto or thereafter, directly or indirectly related to the Technology of the Company as currently
conducted and/or proposed to be conducted, is and shall remain the sole and exclusive property of the Company. Such property while
in the Consultant’s custody or control shall be maintained in good condition at the Consultant’s expense.

 

		4.6.	The Consultant will promptly disclose to the Company
fully and in writing all Inventions.

 

		4.7.	The Consultant hereby
agrees and undertakes to provide the Company or any person designated by the Company all such information, to execute all necessary
documentation and to take all further action as may be required to perfect the rights referred to herein, including, without limitation,
any assignment of rights to the Company or the obtaining or enforcing any intellectual property rights, if applicable,
in any and all countries, provided, that the Company will compensate the Consultant at a reasonable rate for time or expenses
actually spent by it at the Company’s request on such assistance. Without derogating from any of the Consultant’s
obligations hereunder, the Consultant hereby appoints any officer of the Company as its duly authorized agent to execute, file,
prosecute and protect the same before any government agency, court or authority.

 

		4.8.	The Consultant’s undertakings in this Section
4 shall remain in full force and effect after termination or expiration of this Agreement for any reason whatsoever or any renewal
thereof.

 

    	 	-4-	 

     

    

 

		4.9.	Company acknowledges that the Consultant has further
engagements in the field of engagement of the Company, not related to its Services hereunder and that nothing contained herein
shall be interpreted as preventing the Consultant from engagement in other activities related to virtual coins outside the scope
of the Technology and without using Confidential Information of the Company.

 

		5.	Indemnification

 

		5.1.	The Consultant is an independent contractor and it and
its employees and consultants do not and shall not represent themselves to be the agents, employees, partners or joint ventures
of the Company. Nothing in this Agreement shall be interpreted or construed as creating or establishing any partnership, joint
venture, employment relationship, franchise or agency or any other similar relationship between the Company and the Consultant
or any of its employees and consultants and neither party shall be held liable for the debts or obligations of the other.

 

		5.2.	The Consultant hereby undertakes to indemnify and reimburse
the Company for any amounts claimed or levied on the Company (including related costs and expenses) due to taxes, social insurance
payments, pension payments, health insurance and any other such payments resulting from any payment made by the Company to the
Consultant under this Agreement .

 

		5.3.	Without derogating from the above, in the event that,
notwithstanding the Parties’ representations and undertakings hereunder, the Consultant or anyone on its behalf, shall claim,
or a court of competent jurisdiction shall determine, the existence of employer-employee relationship between the Consultant and
the Company, then the following provisions shall apply: (i) the Consultant’s monthly salary for such claimed or determined
period of employer-employee relationship shall be equal to 70% (seventy percent) of the sum of the Monthly Fee and expenses reimbursement
due to the Consultant as consideration for the Services hereunder (for the purposes of this Section 5.3, the “Monthly
Salary”); and (ii) the Monthly Salary shall be deemed to constitute all of the Company’s liabilities and obligations
towards the Consultant, of any source or origin, with respect to and in connection with said employer-employee relationship, except
for such rights with respect to which global compensation may not be determined pursuant to applicable law; The Company shall
be entitled to set-off any amount due to it pursuant to this Section 5.3 from any amount due to Consultant pursuant to this Agreement.

 

		6.	Confidentiality

 

		6.1.	The Consultant represents and warrants that it will
keep the terms and conditions of this Agreement strictly confidential and will not disclose it or provide a copy of this Agreement
or any part thereof to any third person unless and to the extent required by applicable law.

 

    	 	-5-	 

     

    

 

		6.2.	Any and all information and data of a proprietary or
confidential nature concerning the business or financial activities of the Company or its technology, including, without limitation,
the Technology, or products (whether current or future), whether in oral, written, graphic, machine-readable form, or in any other
form, including, without limitation, proprietary, business, financial, technical, development, product, marketing, sales, price,
operating, performance, cost, know-how and process information, trade secrets, patents, patent applications, copyrights, ideas
and inventions (whether patentable or not), and all record bearing media containing or disclosing such information and techniques,
disclosed to or otherwise acquired by the Consultant in connection with this Agreement and any and all Proprietary Rights (collectively,
“Confidential Information”) is and shall remain the sole and exclusive property of the Company.

 

		6.3.	At all times, both during the term of this Agreement
and thereafter, the Consultant: (i) will keep the Confidential Information strictly confidential and will not disclose it, or
any part thereof, provide any documentation with respect thereto, or any part thereof, directly or indirectly, to any third party,
without the prior written consent of the Company or unless and to the extent required by applicable law; and (ii) will not use
any Confidential Information or anything relating to it without the prior written consent of the Company, except and to the extent
as may be necessary in the ordinary course of performing its duties and obligations hereunder and in the best interests of the
Company. Notwithstanding the foregoing, the Consultant shall not be obligated to maintain the confidentiality of the Confidential
Information which: (i) is or becomes a matter of public knowledge through no fault of the Consultant; (ii) is authorized, in writing,
by the Company for release; (iii) was lawfully in the Consultant’s possession before receipt from the Company, as evidenced
by the Consultant through written documentation; (iv) is lawfully received by the Consultant from a third party without a duty
of confidentiality; or (v) reflects information and data generally known within the industries or trades in which the Company
transacts business.

 

		6.4.	At all times, both during the term of this Agreement
and thereafter, the Consultant will keep in trust all Confidential Information. In the event of the termination of this Agreement
for any reason, or upon the Company’s earlier request, the Consultant will promptly deliver to the Company all materials
referred to herein and the Consultant shall not retain or take any materials, or any reproduction thereof containing or pertaining
to Confidential Information.

 

		6.5.	The Consultant recognizes that the Company received
and will receive confidential or proprietary information from third parties, subject to a duty on the Company’s part to
maintain the confidentiality of such information and to use it only for certain limited purposes. At all times, both during the
Term of this Agreement and after its termination, the Consultant undertakes to keep any and all such information in strict confidence
and trust, and it will not use or disclose any of such information without the prior written consent of the Company, except as
may be necessary to perfonn its duties hereunder and consistent with the Company’s agreement with such third party. Upon
termination of this Agreement, the Consultant shall act with respect to such information as set forth in Section 6.4.

 

    	 	-6-	 

     

    

 

		7.	Term and Termination

 

		7.1.	This Agreement shall be
in effect as of the Effective Date and shall continue in full force and effect for an undefined period, unless and until terminated
as hereinafter provided (the “Term”).

 

		7.2.	This Agreement may be
terminated by either Party by thirty (30) days prior written notice to the other Party. Each of such prior notice periods shall
be referred to as the “Notice Period”, as applicable.

 

		7.3.	In the event that a notice of termination is delivered
by either Party hereto, the following shall apply:

 

(i) During
the Notice Period, the Consultant, shall be obligated to continue to provide the Services to the Company.

 

(ii)
Notwithstanding the provisions of Section 7.3 (i) above to the contrary, by notifying the Consultant concurrently with or at
any time after a notice of termination is delivered by either party hereto, Company shall be entitled to waive the receipt of
all or part of the Services during the Notice Period. Notwithstanding the foregoing, the Company shall pay the Consultant the
Monthly Fee until the end of the Notice Period.

 

For the
removal of doubt, it is clarified that as of the time in which the Consultant discontinues
to provide the Services, it shall immediately return to Company any and all equipment.

 

		7.4.	Notwithstanding anything to the contrary herein, the Company may terminate this Agreement
                                                                                                                       at any time, effective immediately, without need for prior written notice, and without derogating from any other remedy to
                                                                                                                       which the Company may be entitled, for Cause. For the purposes of this Agreement, the term “Cause” shall
                                                                                                                       mean, but shall not be limited to: (i) a material breach by Consultant of any term of this Agreement; (ii) any breach by
                                                                                                                       Consultant of its fiduciary duties to the Company, including, without limitation, any material conflict of interest for the
                                                                                                                       promotion of Consultant’s benefit; (iii) Consultant fraud, felonious conduct or dishonesty; (iv) Consultant’s
                                                                                                                       embezzlement of funds of the Company; (v) any conduct by Consultant which is materially injurious to the Company, monetary or
                                                                                                                       otherwise; (vi) Consultant’s conviction of any felony; (vii) Consultant’s misconduct, gross negligence or willful
                                                                                                                       misconduct in performance of its duties and/or responsibilities hereunder; or (viii) Consultant’s refusal to perform
its duties and/or responsibilities hereunder for any reason other than illness or incapacity, or Consultant’s disregard or insubordination
of any lawful resolution and/or instruction of the Board of Directors or executive management of the Company with respect to Consultant’s
duties and/or responsibilities towards the Company.

 

		7.5.	Upon termination of this Agreement, the Consultant shall
cooperate with the Company and use its best efforts to assist the integration into the Company’s organization of the person
or persons who will assume the Consultant’s responsibilities. At the option of the Company, the Consultant shall, during
such period, either continue with its duties or remain absent from the premises of the Company, subject to applicable law.

 

    	 	-7-	 

     

    

 

		8.	Survival

 

The provisions of Sections 4, 5, and 6 shall survive the termination
of this Agreement for’any reason whatsoever or any renewal thereof.

 

		9.	Notices

 

		9.1.	Any and all notices and communications in connection
with this Agreement shall be in writing, addressed to the addresses provided by the Parties hereunder.

 

		9.2.	All notices shall be given by registered mail (postage
prepaid), or otherwise delivered by hand or by messenger to the Parties’ respective addresses as above or such other address
as may be designated by notice. Any notice sent in accordance with this Section 9 shall be deemed received: (i) if sent by registered
mail, upon 3 (three) days of mailing, and (ii) if sent by messenger, upon delivery.

 

		10.	Miscellaneous.

 

		10.1.	Headings; Intei:pretation. Section headings contained
herein are for reference and convenience purposes only and shall not in any way be used for the interpretation of this Agreement.

 

		10.2.	Entire Agreement. This Agreement constitutes
the entire agreement between the Parties with respect to the subject matters hereof and supersedes all prior agreements, understandings
and arrangements, oral or written, between the Parties with respect to the subject matters hereof.

 

		10.3.	Amendment; Waiver.
No provision of this Agreement may be modified, waived or discharged unless such waiver, modification or discharge is agreed
to in writing and signed by the Consultant and the Company. No waiver by either Party at any time to act with respect to any
breach or default by the other Party of, or compliance with, any condition or provision of this
Agreement to be performed by such other Party shall be deemed a waiver of similar or dissimilar provisions or conditions at the
same or at any prior or subsequent time.

 

		10.4.	Governing Law: Jurisdiction. This Agreement shall
be governed by and construed and enforced in accordance with the laws of England and Wales. Any dispute arising out of, or relating
to this Agreement, its interpretation or performance hereunder, shall be finally settled under the Rules of Arbitration of the
International Chamber of Commerce by one or more arbitrators appointed in accordance with the said Rules. Such arbitration process
shall take place in London, England, and be held in English unless otherwise agreed in writing by the Parties.

 

    	 	-8-	 

     

    

 

		10.5.	Severability. The provisions of
                                         this Agreement shall be deemed severable and the invalidity or unenforceability of any
                                         provision shall not affect the validity or enforceability of the other provisions hereof.
                                         If any part of this Agreement is determined to be invalid, illegal or unenforceable,
                                         such determined shall not affect the validity, legality or enforceability of any other
                                         part of this Agreement; and the remaining parts shall be enforced as if such invalid,
                                         illegal, or unenforceable part were not contained herein, provided, however,
                                         that in such event this Agreement shall be interpreted so as to give effect, to the greatest
                                         extent consistent with and permitted by applicable law, to the meaning and intention
                                         of the excluded provision as determined by such court of competent jurisdiction.

 

		10.6.	Successors and Assign: Assignment. This Agreement
shall be binding upon and shall inure to the benefit of the Company, its successors and assigns. Neither this Agreement or any
of the Consultant’s rights, privileges, or obligations set forth in, arising under, or created by this Agreement may be
assigned or transferred by the Consultant without the prior consent in writing of the Company, except by will or by the laws of
descent and distribution

 

[THE REMAINDER OF THIS PAGE WAS INTENTIONALLY LEFT BLANK]

 

    	 	-9-	 

     

    

 

IN WITNESS WHEREOF, the parties hereto have executed this Amended
and Restated Consultancy Agreement as of the date first above-mentioned.

 

	/s/ James Crossley	 	/s/ Maia
    Naor
	INX LTD.	 	MAIA NAOR

 

	By:	James Crossley, Director	 	By:	 
	Date:	25 June 2018	 	Date:	

 

    	 	-10-

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00299-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00299-of-00352.parquet"}]]