Document:

Exhibit
10.1

 

	 

 

INVASIX
LTD.

 

2008 ROW OPTION PLAN

 

 

	 

 

    	 	 	 

     

    

 

TABLE
OF CONTENTS

 

	1.	Purpose	2
	 	 	 
	2.	Definitions	2
	 	 	 
	3.	Stock Subject to the Plan	5
	 	 	 
	4.	Administration of the Plan	5
	 	 	 
	5.	Eligibility	6
	 	 	 
	6.	Terms and Conditions of Awards	7
	 	 	 
	7.	Award Exercise or Purchase Price	8
	 	 	 
	8.	Exercise of Award	9
	 	 	 
	9.	Conditions Upon Issuance of Shares	10
	 	 	 
	10.	Adjustments Upon Changes in Capitalization	10
	 	 	 
	11.	Corporate Transactions	11
	 	 	 
	12.	Effective Date and Term of Plan	11
	 	 	 
	13.	Amendment, Suspension or Termination of the Plan	11
	 	 	 
	14.	Reservation of Shares	12
	 	 	 
	15.	No Effect on Terms of Employment/Consulting	12
	 	 	 
	16.	No Effect on Retirement and Other Benefit Plans	12
	 	 	 
	17.	Stockholder Approval	12

    	 	 	 

     

    

 

1.  Purposes
of the Plan. The Plan is intended to provide an incentive to retain, in the employ of the Company and its Related Entities,
persons of training, experience, and ability, to attract new Employees, Directors, and Consultants which the Board shall decide
their services are considered valuable to the Company, to encourage the sense of proprietorship of such persons, and to stimulate
the active interest of such persons in the development and financial success of the Company by providing them with opportunities
to purchase shares in the Company, pursuant to the Plan.

 

2.  Definitions.
As used herein, the following definitions shall apply:

 

(a)  “Administrator”
means the Board or any of the Committees appointed to administer the Plan.

 

(b)  “Applicable
Laws” means the legal requirements relating to the administration of stock incentive plans, if any, under applicable
provisions of Israel, United States, Canada and other applicable countries tax including the Code and securities laws, Israeli
Companies Law, the rules of any applicable stock exchange or national market system, and the rules of any jurisdiction applicable
to Awards granted to residents therein.

 

(c)  “Assumed”
means that pursuant to a Corporate Transaction either (i) the Award is expressly affirmed by the Company or (ii) the
contractual obligations represented by the Award are expressly assumed (and not simply by operation of law) by the successor entity
or its Parent in connection with the Corporate Transaction with appropriate adjustments to the number and type of securities of
the successor entity or its Parent subject to the Award and the exercise or purchase price thereof which at least preserves the
compensation element of the Award existing at the time of the Corporate Transaction as determined in accordance with the instruments
evidencing the agreement to assume the Award.

 

(d)  “Award”
means the grant of an Option, Restricted Stock, or other right or benefit under the Plan.

 

(e)  “Award
Agreement” means the written agreement evidencing the grant of an Award executed by the Company and the Grantee, including
any amendments thereto.

 

(f)  “Board”
means the Board of Directors of the Company.

 

(g)  “Cause”
means, with respect to the termination by the Company, or a Related Entity of the Grantee’s Continuous Service, that such
termination is for “Cause” as such term is expressly defined in a then-effective written agreement between the Grantee
and the Company, or such Related Entity, or in the absence of such then-effective written agreement and definition, shall mean:
(i) conviction of any felony involving moral turpitude or affecting the Company or a Related Entity; (ii) any refusal to carry
out a reasonable directive of the chief executive officer, the Board or the Optionee’s direct supervisor, which involves
the business of the Company or a Related Entity and was capable of being lawfully performed; (iii) embezzlement of funds of the
Company or a Related Entity; (iv) any breach of the Optionee’s fiduciary duties or duties of care of the Company or a Related
Entity; including without limitation disclosure of confidential information of the Company or a Related Entity; and (v) any conduct
(other than conduct in good faith) reasonably determined by the Board to be materially detrimental to the Company or a Related
Entity.

 

(h)  “Code”
means the USA Internal Revenue Code of 1986, as amended.

 

(i)  “Committee”
means any committee appointed by the Board to administer the Plan.

 

(j)  
“Company” means Invasix Ltd., a corporation organized under the laws of the State of Israel.

 

(k)  “Consultant”
means any person (other than an Employee or a Director, solely with respect to rendering services in such person’s capacity
as a Director) who is engaged by the Company or any Related Entity to render consulting or advisory services to the Company or
such Related Entity.

 

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(l)  
“Continuous Service” means that the provision of services to the Company or a Related Entity in any capacity
of Employee, Director or Consultant, is not interrupted or terminated. Continuous Service shall not be considered interrupted in
the case of (i) any approved leave of absence, (ii) transfers among the Company, any Related Entity, or any successor, in any capacity
of Employee, Director or Consultant, or (iii) any change in status as long as the individual remains in the service of the Company
or a Related Entity in any capacity of Employee, Director or Consultant (except as otherwise provided in the Award Agreement).
An approved leave of absence shall include sick leave, military leave, or any other authorized personal leave. For purposes of
each Incentive Stock Option granted under the Plan, if such leave exceeds ninety (90) days, and reemployment upon expiration of
such leave is not guaranteed by statute or contract, then the Incentive Stock Option shall be treated as a Non-Qualified Stock
Option on the day three (3) months and one (1) day following the expiration of such ninety (90) day period.

 

(m) 
“Corporate Transaction” means any of the following transactions:

 

(i)    a
merger or consolidation in which the Company is not the surviving entity, except for a transaction the principal purpose of which
is to change the jurisdiction in which the Company is incorporated;

 

(ii)   the
sale, transfer or other disposition of all or substantially all of the assets of the Company (including the capital stock of the
Company’s subsidiary corporations);

 

(iii)  the
complete liquidation or dissolution of the Company;

 

(iv)  any
reverse merger in which the Company is the surviving entity but in which securities possessing more than fifty percent (50%) of
the total combined voting power of the Company’s outstanding securities are transferred to a person or persons different
from those who held such securities immediately prior to such merger; or

 

(v)   acquisition
by any person or related group of persons (other than the Company or by a Company-sponsored employee benefit plan) of beneficial
ownership (within the meaning of Rule 13d-3 of the Exchange Act) of securities possessing more than fifty percent (50%) of
the total combined voting power of the Company’s outstanding securities.

 

(n)  “Director”
means a member of the Board or the board of directors of any Related Entity.

 

(o)  “Disability”
means as defined under the long-term disability policy of the Company or the Related Entity to which the Grantee provides services
regardless of whether the Grantee is covered by such policy. If the Company or the Related Entity to which the Grantee provides
service does not have a long-term disability plan in place, “Disability” means that a Grantee is unable to carry out
the responsibilities and functions of the position held by the Grantee by reason of any medically determinable physical or mental
impairment. A Grantee will not be considered to have incurred a Disability unless he or she furnishes proof of such impairment
sufficient to satisfy the Administrator in its discretion.

 

(p)  “Employee”
means any person, including an Officer or Director, who is an employee of the Company or any Related Entity. The payment of a director’s
fee by the Company or a Related Entity shall not be sufficient to constitute “employment” by the Company.

 

(q)  “Exchange
Act” means the Securities Exchange Act of 1934, as amended.

 

(r)  “Fair
Market Value” means, as of any date, the value of the Ordinary Shares determined as follows:

 

    	 	3	 

     

    

 

(i)    If
the Shares are listed on any established stock exchange or a national market system, the Fair Market Value shall be the closing
sales price for such Shares (or the closing bid, if no sales were reported), as quoted on such exchange or system on the date of
determination, as reported in the Wall Street Journal, or such other source as the Board deems reliable;

 

(ii)   If
the Shares are regularly quoted by a recognized securities dealer but selling prices are not reported, the Fair Market Value shall
be the mean between the high bid and low asked prices for the Shares on the date of determination, or;

 

(iii)  In
the absence of an established market for the Shares, the Fair Market Value thereof shall be determined in good faith by the Administrator.

 

(s)  
“Grantee” means an Employee, Director or Consultant who receives an Award under the Plan.

 

(t)   “Incentive
Stock Option” means an Option intended to qualify as an incentive stock option within the meaning of Section 422
of the Code.

 

(u)  “Israeli
Companies Law” means the Israeli Companies Law 1999, as amended or replaced from time to time.

 

(v)  “Non-Qualified
Stock Option” means an Option not intended to qualify as an Incentive Stock Option.

 

(w) “Officer”
means a person who is an officer of the Company or a Related Entity within the meaning of Section 16 of the Exchange Act and
the rules and regulations promulgated thereunder.

 

(x)  “Option”
means an option to purchase one (1) Ordinary Shares pursuant to an Award Agreement granted under the Plan.

 

(y)  “Ordinary
Shares” means the ordinary shares par value NIS 0.01 per share of the Company.

 

(z)  
“Parent” means a “parent corporation,” whether now or hereafter existing, as defined in Section 424(e)
of the Code.

 

(aa)  “Plan”
means this 2008 ROW Option Plan.

 

(bb)  “Post-Termination
Exercise Period” means the period specified in the Award Agreement (or if not mentioned therein – as specified
in this Plan) commencing on the date of termination (other than termination by the Company or any Related Entity for Cause) of
the Grantee’s Continuous Service.

 

(cc)  “Related
Entity” means any Parent or Subsidiary of the Company and any business, corporation, partnership, limited liability company
or other entity in which the Company or a Parent or a Subsidiary of the Company holds a substantial ownership interest, directly
or indirectly.

 

(dd)  “Replaced”
means that pursuant to a Corporate Transaction the Award is replaced with a comparable stock award or a cash incentive program
of the Company, the successor entity (if applicable) or Parent of either of them which at least preserves the compensation element
of such Award existing at the time of the Corporate Transaction and provides for subsequent payout in accordance with the same
(or a more favorable) vesting schedule applicable to such Award. The determination of Award comparability shall be made by the
Administrator and its determination shall be final, binding and conclusive.

 

(ee)  “Restricted
Stock” means Shares issued under the Plan to the Grantee for such consideration, if any, and subject to such restrictions
on transfer, rights of first refusal, repurchase provisions, forfeiture provisions, and other terms and conditions as established
by the Administrator.

 

(ff)   “Rule 16b-3”
means Rule 16b-3 promulgated under the Exchange Act or any successor thereto.

 

(gg)  “Share”
means a share of the Ordinary Shares.

 

    	 	4	 

     

    

 

(hh)  “Subsidiary”
means a “subsidiary corporation,” whether now or hereafter existing, as defined in Section 424(f) of the Code.

 

3.  Stock
Subject to the Plan.

 

(a)  Subject
to the provisions of Section 10, below, the maximum aggregate number of Shares which may be issued pursuant to all Awards
is 180,000 Shares, plus any increase to be added from time to time as determined by the Board. Out of such maximum aggregate number
of Shares (as may be increased from time to time), any number of Shares may be issued pursuant to Incentive Stock Options arrangements.
The Shares to be issued pursuant to Awards may be authorized, but unissued, or reacquired Ordinary Shares.

 

(b)  Any
Shares covered by an Award (or portion of an Award) which is forfeited, canceled or expires (whether voluntarily or involuntarily)
shall be deemed not to have been issued for purposes of determining the maximum aggregate number of Shares which may be issued
under the Plan. Shares that actually have been issued under the Plan pursuant to an Award shall not be returned to the Plan and
shall not become available for future issuance under the Plan, except that if unvested Shares are forfeited, or repurchased by
the Company at the lower of their original purchase price or their Fair Market Value at the time of repurchase, such Shares shall
become available for future grant under the Plan. To the extent not prohibited by Section 422(b)(1) of the Code (and the corresponding
regulations thereunder), the listing requirements of The Nasdaq National Market (or other established stock exchange or national
market system on which the Common Stock is traded) and Applicable Law, any Shares covered by an Award which are surrendered (i) in
payment of the Award exercise or purchase price or (ii) in satisfaction of tax withholding obligations incident to the exercise
of an Award shall be deemed not to have been issued for purposes of determining the maximum number of Shares which may be issued
pursuant to all Awards under the Plan, unless otherwise determined by the Administrator.

 

4.  Administration
of the Plan.

 

(a)  Plan
Administrator.

 

(i)    Administration
with Respect to Directors and Officers. With respect to grants of Awards to Directors or Employees who are also Officers or
Directors of the Company, the Plan shall be administered by (A) the Board or (B) a Committee designated by the Board,
which Committee shall be constituted in such a manner as to satisfy the Applicable Laws and to permit such grants and related transactions
under the Plan to be exempt from Section 16(b) of the Exchange Act in accordance with Rule 16b-3. Once appointed, such Committee
shall continue to serve in its designated capacity until otherwise directed by the Board.

 

(ii)   Administration
With Respect to Consultants and Other Employees. With respect to grants of Awards to Employees or Consultants who are neither
Directors nor Officers of the Company, the Plan shall be administered by (A) the Board or (B) a Committee designated by the Board,
which Committee shall be constituted in such a manner as to satisfy the Applicable Laws. Once appointed, such Committee shall continue
to serve in its designated capacity until otherwise directed by the Board. The Board may authorize one or more Officers to grant
such Awards and may limit such authority as the Board determines from time to time.

 

(iii)  Administration
Errors. In the event an Award is granted in a manner inconsistent with the provisions of this subsection (a), such Award
shall be presumptively valid as of its grant date to the extent permitted by the Applicable Laws.

 

    	 	5	 

     

    

 

(b)  Powers
of the Administrator. Subject to Applicable Laws and the provisions of the Plan (including any other powers given to the Administrator
hereunder), and except as otherwise provided by the Board, the Administrator shall have the authority, in its discretion:

 

(i)    to
select the Employees, Directors and Consultants to whom Awards may be granted from time to time hereunder;

 

(ii)   to
determine whether and to what extent Awards are granted hereunder;

 

(iii)  to
determine the number of Shares or the amount of other consideration to be covered by each Award granted hereunder;

 

(iv)  to
approve forms of Award Agreements for use under the Plan;

 

(v)   to
determine the terms and conditions of any Award granted hereunder;

 

(vi)  to
amend the terms of any outstanding Award granted under the Plan, provided that any amendment that would adversely affect the Grantee’s
rights under an outstanding Award shall not be made without the Grantee’s written consent;

 

(vii)  to
construe and interpret the terms of the Plan and Awards, including without limitation, any notice of award or Award Agreement,
granted pursuant to the Plan;

 

(viii) to
establish additional terms, conditions, rules or procedures, to accommodate the rules or laws of applicable foreign jurisdictions
and to afford Grantees favorable treatment under such rules or laws; provided, however, that no Award shall be granted under any
such additional terms, conditions, rules or procedures with terms or conditions which are inconsistent with the provisions of the
Plan; and

 

  (ix) to
take such other action, not inconsistent with the terms of the Plan, as the Administrator deems appropriate.

 

(c)  Indemnification.
In addition to such other rights of indemnification as they may have as members of the Board or as Officers or Employees of the
Company or a Related Entity, members of the Board and any Officers or Employees of the Company or a Related Entity to whom authority
to act for the Board, the Administrator or the Company is delegated shall be defended and indemnified by the Company to the extent
permitted by law on an after-tax basis against all reasonable expenses, including attorneys’ fees, actually and necessarily
incurred in connection with the defense of any claim, investigation, action, suit or proceeding, or in connection with any appeal
therein, to which they or any of them may be a party by reason of any action taken or failure to act under or in connection with
the Plan, or any Award granted hereunder, and against all amounts paid by them in settlement thereof (provided such settlement
is approved by the Company) or paid by them in satisfaction of a judgment in any such claim, investigation, action, suit or proceeding,
except in relation to matters as to which it shall be adjudged in such claim, investigation, action, suit or proceeding that such
person is liable for gross negligence, bad faith or intentional misconduct; provided, however, that within thirty (30) days after
the institution of such claim, investigation, action, suit or proceeding, such person shall offer to the Company, in writing, the
opportunity at the Company’s expense to defend the same.

 

5.  Eligibility.
Awards other than Incentive Stock Options may be granted to Employees, Directors and Consultants. Incentive Stock Options may be
granted only to Employees of the Company or a Parent or a Subsidiary of the Company. An Employee, Director or Consultant who has
been granted an Award may, if otherwise eligible, be granted additional Awards. Awards may be granted to such Employees, Directors
or Consultants who are residing in foreign jurisdictions as the Administrator may determine from time to time.

 

    	 	6	 

     

    

 

6.  Terms
and Conditions of Awards.

 

(a)  Type
of Awards. The Administrator is authorized under the Plan to award any type of arrangement to an Employee, Director or Consultant
that is not inconsistent with the provisions of the Plan and that by its terms involves or might involve the issuance of (i) Shares,
(ii) an Option or similar right with a fixed or variable price related to the Fair Market Value of the Shares and with an exercise
or conversion privilege related to the passage of time, the occurrence of one or more events, or the satisfaction of performance
criteria or other conditions, or (iii) any other security with the value derived from the value of the Shares. Such awards include,
without limitation, Options or sales or bonuses of Restricted Stock, and an Award may consist of one such security or benefit,
or two (2) or more of them in any combination or alternative.

 

(b)  Designation
of Award. Each Award shall be designated in the Award Agreement. In the case of an Option, the Option shall be designated as
either an Incentive Stock Option or a Non-Qualified Stock Option. However, notwithstanding such designation, to the extent that
the aggregate Fair Market Value of Shares subject to Options designated as Incentive Stock Options which become exercisable for
the first time by a Grantee during any calendar year (under all plans of the Company or any Parent or Subsidiary of the Company)
exceeds $100,000, such excess Options, to the extent of the Shares covered thereby in excess of the foregoing limitation, shall
be treated as Non-Qualified Stock Options. For this purpose, Incentive Stock Options shall be taken into account in the order in
which they were granted, and the Fair Market Value of the Shares shall be determined as of the grant date of the relevant Option.

 

(c)  Conditions
of Award. Subject to the terms of the Plan, the Administrator shall determine the provisions, terms, and conditions of each
Award including, but not limited to, the Award vesting schedule, repurchase provisions, rights of first refusal, forfeiture provisions,
form of payment (cash, Shares, or other consideration) upon settlement of the Award, payment contingencies, and satisfaction of
any performance criteria. The performance criteria established by the Administrator may be based on any one of, or combination
of, increase in share price, earnings per share, total stockholder return, return on equity, return on assets, return on investment,
net operating income, cash flow, revenue, economic value added, personal management objectives, or other measure of performance
selected by the Administrator. Partial achievement of the specified criteria may result in a payment or vesting corresponding to
the degree of achievement as specified in the Award Agreement.

 

(d)  Acquisitions
and Other Transactions. The Administrator may issue Awards under the Plan in settlement, assumption or substitution for, outstanding
awards or obligations to grant future awards in connection with the Company or a Related Entity acquiring another entity, an interest
in another entity or an additional interest in a Related Entity whether by merger, stock purchase, asset purchase or other form
of transaction.

 

(e)  Separate
Programs. The Administrator may establish one or more separate programs under the Plan for the purpose of issuing particular
forms of Awards to one or more classes of Grantees on such terms and conditions as determined by the Administrator from time to
time.

 

(f)  Early
Exercise. The Award Agreement may, but need not, include a provision whereby the Grantee may elect at any time while an Employee,
Director or Consultant to exercise any part or all of the Award prior to full vesting of the Award. Any unvested Shares received
pursuant to such exercise may be subject to a repurchase right in favor of the Company or a Related Entity or to any other restriction
the Administrator determines to be appropriate.

 

    	 	7	 

     

    

 

(g)  Term
of Award. The term of each Award shall be the term stated in the Award Agreement, provided, however, that the term of an Award
shall be no more than seven (7) years from the date of grant thereof. However, in the case of an Incentive Stock Option granted
to a Grantee who, at the time the Option is granted, owns stock representing more than ten percent (10%) of the voting power
of all classes of stock of the Company or any Parent or Subsidiary of the Company, the term of the Incentive Stock Option shall
be five (5) years from the date of grant thereof or such shorter term as may be provided in the Award Agreement.

 

(h)  Transferability
of Awards. No Option or any right with respect thereto, purchasable hereunder, whether fully paid or not, shall be assignable,
transferable or given as collateral, or any right with respect to it given to any third party whatsoever, except as specifically
allowed under the Plan. During the lifetime of the Grantee, each and all of such Grantee's rights to purchase Shares hereunder
shall be exercisable only by the Grantee. Vested options are transferable by will or by law of descent and distribution. Any such
action made directly or indirectly, for an immediate validation or for a future one, shall be void.

 

(i)  Time
of Granting Awards. The date of grant of an Award shall for all purposes be the date on which the Administrator makes the determination
to grant such Award, or such other date as is determined by the Administrator. Notice of the grant determination shall be given
to each Employee, Director or Consultant to whom an Award is so granted within a reasonable time after the date of such grant.

 

7.  Award
Exercise or Purchase Price, Consideration and Taxes.

 

(a)  Exercise
or Purchase Price. The exercise or purchase price, if any, for an Award shall be as follows:

 

(i)    In
the case of an Incentive Stock Option:

 

(A)  granted
to an Employee who, at the time of the grant of such Incentive Stock Option owns stock representing more than ten percent (10%)
of the voting power of all classes of stock of the Company or any Parent or Subsidiary of the Company, the per Share exercise price
shall be not less than one hundred ten percent (110%) of the Fair Market Value per Share on the date of grant; or

 

(B)  granted
to any Employee other than an Employee described in the preceding paragraph, the per Share exercise price shall be not less than
one hundred percent (100%) of the Fair Market Value per Share on the date of grant.

 

(ii)   In
the case of a Non-Qualified Stock Option, the per Share exercise price shall be not less than one hundred percent (100%) of the
Fair Market Value per Share on the date of grant.

 

(iii)  In
the case of other Awards, such price as is determined by the Administrator.

 

(iv)  Notwithstanding the foregoing provisions of this Section 7(a), in the case of an Award issued pursuant to Section 6(d),
above, the exercise or purchase price for the Award shall be determined in accordance with the principles of Section 424(a)
of the Code.

 

(b)  Consideration.
Subject to Applicable Laws, the consideration to be paid for the Shares to be issued upon exercise or purchase of an Award including
the method of payment, shall be determined by the Administrator (and, in the case of an Incentive Stock Option, shall be determined
at the time of grant). In addition to any other types of consideration the Administrator may determine, the Administrator is authorized
to accept as consideration for Shares issued under the Plan the following:

 

(i)    cash;

 

(ii)   check;

 

(iii)  wire
transfer.

 

    	 	8	 

     

    

 

The Administrator may at
any time or from time to time, by adoption of or by amendment to the standard forms of Award Agreement described in Section 4(b)(iv),
or by other means, grant Awards which do not permit all of the foregoing forms of consideration to be used in payment for the Shares
or which otherwise restrict one or more forms of consideration.

 

(c)  Taxes.
No Shares shall be delivered under the Plan to any Grantee or other person until such Grantee or other person has made arrangements
acceptable to the Administrator for the satisfaction of any foreign, federal, state, or local income and employment tax withholding
obligations, including, without limitation, obligations incident to the receipt of Shares or the disqualifying disposition of Shares
received on exercise of an Incentive Stock Option. Upon exercise of an Award the Company shall withhold or collect from Grantee
an amount sufficient to satisfy such tax obligations.

 

8.  Exercise
of Award.

 

(a)  Procedure
for Exercise; Rights as a Stockholder.

 

(i)    Any
Award granted hereunder shall be exercisable at such times and under such conditions as determined by the Administrator under the
terms of the Plan and specified in the Award Agreement.

 

(ii)   An
Award shall be deemed to be exercised when written notice of such exercise has been given to the Company in accordance with the
terms of the Award by the person entitled to exercise the Award and full payment for the Shares with respect to which the Award
is exercised is actually received and cleared.

 

(b)  Exercise
of Award Following Termination of Continuous Service. In the event of termination of a Grantee’s Continuous Service for
any reason other than Disability or death (but not in the event of a Grantee’s change of status from Employee to Consultant
or from Consultant to Employee), such Grantee may, but only during the Post-Termination Exercise Period (but in no event later
than the expiration date of the term of such Award as set forth in the Award Agreement), exercise the portion of the Grantee’s
Award that was vested at the date of such termination or such other portion of the Grantee’s Award as may be determined by
the Administrator. The Grantee’s Award Agreement may provide that upon the termination of the Grantee’s Continuous
Service for Cause, the Grantee’s right to exercise the Award shall terminate concurrently with the termination of Grantee’s
Continuous Service. In the event of a Grantee’s change of status from Employee to Consultant, an Employee’s Incentive
Stock Option shall convert automatically to a Non-Qualified Stock Option on the day three (3) months and one day following such
change of status. To the extent that the Grantee’s Award was unvested at the date of termination, or if the Grantee does
not exercise the vested portion of the Grantee’s Award within the Post-Termination Exercise Period, the Award shall terminate.

 

(c)  Disability
of Grantee. In the event of termination of a Grantee’s Continuous Service as a result of his or her Disability, such
Grantee may, but only within twelve (12) months from the date of such termination (or such longer or shorter period as specified
in the Award Agreement but in no event later than the expiration date of the term of such Award as set forth in the Award Agreement),
exercise the portion of the Grantee’s Award that was vested at the date of such termination; provided, however, that if such
Disability is not a “disability” as such term is defined in Section 22(e)(3) of the Code, in the case of an Incentive
Stock Option such Incentive Stock Option shall automatically convert to a Non-Qualified Stock Option on the day three (3) months
and one day following such termination. To the extent that the Grantee’s Award was unvested at the date of termination, or
if Grantee does not exercise the vested portion of the Grantee’s Award within the time specified herein, the Award shall
terminate.

 

    	 	9	 

     

    

 

(d)  Death
of Grantee. In the event of a termination of the Grantee’s Continuous Service as a result of his or her death, or in
the event of the death of the Grantee during the Post-Termination Exercise Period or during the twelve (12) month period following
the Grantee’s termination of Continuous Service as a result of his or her Disability, the Grantee’s estate or a person
who acquired the right to exercise the Award by bequest or inheritance may exercise the portion of the Grantee’s Award that
was vested as of the date of termination, within twelve (12) months from the date of death (or such longer or shorter period as
specified in the Award Agreement but in no event later than the expiration of the term of such Award as set forth in the Award
Agreement). To the extent that, at the time of death, the Grantee’s Award was unvested, or if the Grantee’s estate
or a person who acquired the right to exercise the Award by bequest or inheritance does not exercise the vested portion of the
Grantee’s Award within the time specified herein, the Award shall terminate.

 

(e)  Extension
if Exercise Prevented by Law. Notwithstanding the foregoing, if the exercise of an Award within the applicable time periods
set forth in this Section 8 is prevented by the provisions of Section 9 below, the Award shall remain exercisable until
one (1) month after the date the Grantee is notified by the Company that the Award is exercisable, but in any event no later than
the expiration of the term of such Award as set forth in the Award Agreement.

 

(f)  Post
Termination Forfeiture. The reason of termination of Continuous Service notwithstanding, if during the Post-Termination Exercise
Period, the Grantee breaches the confidentiality, non-competition, non-solicitation, non-use or assignment of intellectual property
undertakings binding upon such Grantee, the Company shall have the right to effect a forfeiture of all of the Grantee’s then
outstanding Awards (whether vested or non-vested).

 

9.  Conditions
Upon Issuance of Shares.

 

(a)  Shares
shall not be issued pursuant to the exercise of an Award unless the exercise of such Award and the issuance and delivery of such
Shares pursuant thereto shall comply with all Applicable Laws, and shall be further subject to the approval of counsel for the
Company with respect to such compliance.

 

(b)  As
a condition to the exercise of an Award, the Company may require the person exercising such Award to represent and warrant at the
time of any such exercise that the Shares are being purchased only for investment and without any present intention to sell or
distribute such Shares if, in the opinion of counsel for the Company, such a representation is required by any Applicable Laws.

 

10.  Adjustments
Upon Changes in Capitalization. Subject to any required action by the stockholders of the Company, the number of Shares covered
by each outstanding Award, and the number of Shares which have been authorized for issuance under the Plan but as to which no Awards
have yet been granted or which have been returned to the Plan, the exercise or purchase price of each such outstanding Award, as
well as any other terms that the Administrator determines require adjustment shall be proportionately adjusted for (i) any
increase or decrease in the number of issued Shares resulting from a stock split, reverse stock split, stock dividend, combination
or reclassification of the Shares, or similar transaction affecting the Shares, (ii) any other increase or decrease in the
number of issued Shares effected without receipt of consideration by the Company, or (iii) as the Administrator may determine
in its discretion, any other transaction with respect to Common Stock including a corporate merger, consolidation, acquisition
of property or stock, separation (including a spin-off or other distribution of stock or property), reorganization, liquidation
(whether partial or complete) or any similar transaction; provided, however that conversion of any convertible securities of the
Company shall not be deemed to have been “effected without receipt of consideration.” Such adjustment shall be made
by the Administrator and its determination shall be final, binding and conclusive. Except as the Administrator determines, no issuance
by the Company of shares of stock of any class, or securities convertible into shares of stock of any class, shall affect, and
no adjustment by reason hereof shall be made with respect to, the number or price of Shares subject to an Award.

 

    	 	10	 

     

    

 

11.  Corporate
Transactions.

 

(a)  Termination
of Award to Extent Not Assumed. Effective upon the consummation of a Corporate Transaction, all outstanding Awards under the
Plan shall terminate. However, all such Awards shall not terminate to the extent they are Assumed in connection with the Corporate
Transaction.

 

(b)  Acceleration
of Award Upon Corporate Transaction. Except as provided otherwise in an individual Award Agreement, in the event of a Corporate
Transaction, for the portion of each Award that is neither Assumed nor Replaced, such proportional part of the Award, calculated
by dividing the sum of the then vested Options by the total Options granted to a Grantee time the total number of un-vested Options
(see example below), shall automatically become fully vested and exercisable and be released from any repurchase or forfeiture
rights (other than repurchase rights exercisable at Fair Market Value) for all of the Shares at the time represented by such portion
of the Award, immediately prior to the specified effective date of such Corporate Transaction, provided that the Grantee’s
Continuous Service has not terminated prior to such date. The portion of the Award that is not Assumed shall terminate under subsection
(a) of this Section 11 to the extent not exercised prior to the consummation of such Corporate Transaction.

 

Example for proportional
acceleration of Options:

 

	Example	 	
        Options 

        Awarded
	 	
        Vested 

        Options
	 	
        Un-vested 

        Options
	 	Formula	 	Total
	1	 	400	 	100	 	300	 	100 + (300 x 100/400)	 	175
	2	 	400	 	200	 	200	 	200 + (200 x 200/400)	 	300
	3	 	400	 	300	 	100	 	300 + (100 x 300/400)	 	175

 

(c)  Effect
of Acceleration on Incentive Stock Options. The portion of any Incentive Stock Option accelerated under this Section 11
in connection with a Corporate Transaction shall remain exercisable as an Incentive Stock Option under the Code only to the extent
the $100,000 dollar limitation of Section 422(d) of the Code is not exceeded. To the extent such dollar limitation is exceeded,
the accelerated excess portion of such Option shall be exercisable as a Non-Qualified Stock Option.

 

12.  Effective
Date and Term of Plan. The Plan shall become effective upon the earlier to occur of its adoption by the Board or its approval
by the stockholders of the Company. It shall continue in effect for a term of ten (10) years unless sooner terminated. Subject
to Section 17, below, and Applicable Laws, Awards may be granted under the Plan upon its becoming effective.

 

13.  Amendment,
Suspension or Termination of the Plan.

 

(a)  The
Board may at any time amend, suspend or terminate the Plan; provided, however, that no such amendment shall be made without the
approval of the Company’s stockholders to the extent such approval is required by Applicable Laws, or if such amendment would
change any of the provisions of Section 4(b)(vi) or this Section 13(a).

 

    	 	11	 

     

    

 

(b)  No
Award may be granted during any suspension of the Plan or after termination of the Plan.

 

(c)  Any
amendment, suspension or termination of the Plan (including termination of the Plan under Section 12, above) shall not affect Awards
already granted, and such Awards shall remain in full force and effect as if the Plan had not been amended, suspended or terminated,
unless mutually agreed otherwise between the Grantee and the Administrator, which agreement must be in writing and signed by the
Grantee and the Company.

 

14.  Reservation
of Shares.

 

(a)  The
Company, during the term of the Plan, will at all times reserve and keep available such number of Shares as shall be sufficient
to satisfy the requirements of the Plan.

 

(b)  The
inability of the Company to obtain authority from any regulatory body having jurisdiction, which authority is deemed by the Company’s
counsel to be necessary to the lawful issuance and sale of any Shares hereunder, shall relieve the Company of any liability in
respect of the failure to issue or sell such Shares as to which such requisite authority shall not have been obtained.

 

15.  No
Effect on Terms of Employment/Consulting Relationship. The Plan shall not confer upon any Grantee any right with respect to
the Grantee’s Continuous Service, nor shall it interfere in any way with his or her right or the Company’s right to
terminate the Grantee’s Continuous Service at any time, with or without Cause, and with or without notice. The Company’s
ability to terminate the employment of a Grantee who is employed at will is in no way affected by its determination that the Grantee’s
Continuous Service has been terminated for Cause for the purposes of this Plan.

 

16.  No
Effect on Retirement and Other Benefit Plans. Except as specifically provided in a retirement or other benefit plan of the
Company or a Related Entity, Awards shall not be deemed compensation for purposes of computing benefits or contributions under
any retirement plan of the Company or a Related Entity, and shall not affect any benefits under any other benefit plan of any kind
or any benefit plan subsequently instituted under which the availability or amount of benefits is related to level of compensation.
The Plan is not a “Retirement Plan” or “Welfare Plan” under the U.S. Employee Retirement Income Security
Act of 1974, as amended.

 

17.  Stockholder
Approval. The grant of Incentive Stock Options under the Plan shall be subject to approval by the stockholders of the Company
within twelve (12) months before or after the date the Plan is adopted excluding Incentive Stock Options issued in substitution
for outstanding Incentive Stock Options pursuant to Section 424(a) of the Code. Such stockholder approval shall be obtained
in the degree and manner required under Applicable Laws. The Administrator may grant Incentive Stock Options under the Plan prior
to approval by the stockholders, but until such approval is obtained, no such Incentive Stock Option shall be exercisable. In the
event that stockholder approval is not obtained within the twelve (12) month period provided above, all Incentive Stock Options
previously granted under the Plan shall be exercisable as Non-Qualified Stock Options.

 

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

 

    	 	12Exhibit
10.2

INVASIX
LTD.

 

THE 2008 ISRAEL OPTION PLAN

 

    	 	 -i-	 

     

    

 

Invasix
Ltd.

 

2008
Israel Option Plan 

 

		1.	NAME OF THE PLAN 

 

This plan, and the amendments
to be made thereto from time to time, shall be named the 2008 Israel Option Plan of Invasix Ltd. (hereinafter: the “Plan”).

 

		2.	SCOPE AND PURPOSEOF THE PLAN 

 

The Plan is intended to
provide an incentive to attract new employees, directors, consultants and service providers, and to retain in the service of the
Company experienced and capable professionals by providing them with opportunities to purchase shares in the Company, pursuant
to the Plan, which was approved by the board of directors of the Company (hereinafter: the “Board”).

 

This Plan shall serve as
a “Master Plan” for the Company worldwide, therefore, as required, annexes may be added, which include adjustments
according to the local laws of the international subsidiaries of the Company, and in order to adapt the Plan to the various circumstances
where this Plan does not extend, at the discretion of the Board.

 

The options to be granted
under this Plan shall be granted in accordance with applicable law, including the Income Tax Ordinance (New Version) – 1961,
and subject to any law, regulation, order, judgment committee, circular or procedure existing and/or to be published thereafter,
and/or to be amended from time to time (hereinafter jointly: the “Ordinance”).

 

As such, the options to
be granted under this Plan may be subject to conditions that may turn the options into options that are allocated in accordance
with a plan with a trustee or in accordance with any other method permitted compatible with the law. All options mentioned above
shall be referred to hereinafter: the “Options”).

 

At any time, the Board
may order the translation of the Plan into English, and turn the translation into the binding version. The translation may be done
in a manner that shall preserve the meaning of the arrangements included in the Plan, even if it is not an accurate translation.

 

		3.	ADMINISTRATION OF THE PLAN

 

3.1       The
Board or the Options Committee to be appointed by the Board (hereinafter: the “Committee”) shall administer
the Plan. Notwithstanding the above, the Board shall have residual authority if the Committee is not constituted or if such Committee
shall cease to operate for any reason. The Board shall appoint the members of the Committee, and may from time to time add members
to, and replace members of the Committee. In this Plan, any reference to the term “Committee” shall also mean the Board
- if no Options Committee is operating at that time in the Company.

 

    	 	1	 

     

    

 

3.2       The
Committee shall select one of its members to serve as its Chairman, and shall hold its meetings at such times and places as the
Chairman shall determine. The resolutions of the Committee that are adopted by the majority of Committee members present shall
be valid, and written resolutions adopted by all members of the Committee shall be considered valid resolutions of the Committee.
The Committee shall determine internal procedures for the conduct of its business, and shall appoint a secretary who shall document
the meetings in the minutes.

 

3.3       The
Committee shall fulfill the following tasks: (1) designate grantees to whom Options shall be granted (hereinafter: “Grantee”
or “Participant”); and (2) recommend to the Board to grant Options to the Grantees. Notwithstanding the above,
the Board is authorized to allot shares in respect of Options on behalf of the Company, which were granted and exercised as required.
If the Articles of Association so permit, and upon the consent of the Board, the Committee may grant options and allot shares in
respect thereof within the quantity reserved under the Plan and under the directives of the Board.

 

3.4       Subject
to the terms of this Plan, the Committee shall have the full power and authority, to determine from time to time and at any time,
the terms included in the Option agreements to be signed between the Company and each of the Grantees (hereinafter: the “Option
Agreement”). Including (but not limited), to determine: (1) the type of option granted; (2) the date or dates and terms
according to which the option shall become vested (including by way of achieving goals); (3) the duration and nature of restriction
on offenses; (4) additional special conditions for a certain Grantee.

 

The Committee shall be
authorized to: (1) interpret the Plan, to monitor and vise the administration of the Plan; (2) amend, modify or replace conditions
and rules in a certain Option Agreement or in a number of Option Agreements (it shall be emphasized that such action that shall
be done for one or more Grantees shall not automatically entitle the other Grantees to the same entitlement, and in the event that
said action shall have a significant negative influence on the rights of the Grantee, such modification must be agreed upon by
the Grantee whose rights were derogated from); (3) convert granted un-vested Options from previous plans to Options under the Plan
– subject to applicable law; and (4) any other matter that is necessary, desirable or incidental to the administration of
the Plan.

 

3.5       The
Committee shall adopt from time to time rules for the implementation of the Plan in a manner that it believes to be best. No Board
member or Committee member shall be liable for any action or resolution made in good faith in connection with the Plan or the grant
of Options in the framework thereof.

 

3.6       The
Board or Committee member may receive options according to the Plan during his tenure on the Committee, subject to the provisions
of the Companies Law, 1999 (hereinafter: the “Companies Law”).

 

3.7       The
meaning and interpretation given by the Committee to any terms of the Plan or to any Option granted pursuant thereto shall be final
and exclusive, unless otherwise determined by the Board.

 

    	 	2	 

     

    

 

3.8       To
the extent permitted by law, each member of the Board or the Committee shall be indemnified and held harmless by the Company against
any reasonable expense incurred (including attorneys’ fees) or any liability (including any sum paid in settlement of a claim
with the approval of the Company) arising out of any act or omission to act in connection with the Plan of the Board / Committee
member, unless said act or omission were done fraudulently or in bad faith. Such indemnification shall be in addition to any rights
of indemnification the member may have, if any, as a Board or Committee member by virtue of him being a Board member under the
Company's articles of association, agreement, resolutions or any vote of shareholders or disinterested directors, insurance policy
or otherwise.

 

		4.	DESIGNATION OF GRANTEES 

 

4.1       Subject
to the limitations and restrictions set forth in applicable law, Options may be granted to: office holder, employee in a key position,
other employee of the Company, Board member, consultant or service provider of the Company, provided that: (1) the employees who
are taxed under the laws of the State of Israel are granted Options only in accordance with Section 102 of the Ordinance; (2) the
controlling shareholders, as such term is defined in the Ordinance, consultants and service providers who are taxed under the laws
of the State of Israel are granted Options only under Section 3(i) of the Ordinance.

 

4.2       The
grant of an Option hereunder shall neither entitle the Grantee to participate nor disqualify the Grantee from participating in
any other grant of Options pursuant to this Plan or any incentive or any other plan of the Company or its affiliates..

 

4.3       Notwithstanding
the foregoing in this Plan, the grant of options to office holders (as defined in the Companies Law) shall be approved in the manner
prescribed by the Companies Law.

 

4.4       The
Company chose, as its first choice, to apply the capital gains track with a trustee to all Grantees who are taxed under
Israeli law and are eligible to be included in this Plan as part of the capital gains track. The Board may decide to modify the
track to an ordinary income track in accordance with the provisions of the Ordinance.

 

		5.	TRUST AND ADDITIONAL TERMS UNDER SECTION 102 OF THE ORDINANCE

 

5.1       Any
Option to be granted in the framework of a track with a trustee and/or shares of the Company to be allotted following the exercise
of Options under a trustee shall be held by a trustee to be appointed by the Board (hereinafter: the “Trustee”)
in accordance with the terms set forth in the Ordinance, in accordance with the Trust Agreement, a copy of which is attached hereto
and constitutes an integral part of this Plan, and in accordance with the provisions of the Company, to be given from time to time.
Each Grantee hereby consents to the terms of the trust agreement, which includes an indemnification clause and waiver of the Grantee.

 

5.2       The
Grantee’s signature on the Option agreement constitutes consent on behalf of the Grantee to release the Trustee from any
liability in respect of any action or decision taken and executed in good faith in relation with the Plan, or any Option or Share
granted to the Grantees. It is hereby clarified that the Trustee serves as a Trustee for the payment of tax and execution of the
relevant sections of the Ordinance, and he does not serve as the Trustee of the Grantee or the Company, with the exception as stated
explicitly in the Trust Agreement.

 

    	 	3	 

     

    

 

5.3       The
Trustee may resign and the Company may terminate the appointment of the Trustee at any time, subject to the provision of advance
notice as required in the Trust Agreement. The Company may, at its discretion, determine the identity of the new Trustee.

 

5.4       Without
derogating from the aforesaid, the following restrictions shall apply:

 

		5.4.1	In accordance with the provisions of Section 102 of the Ordinance, Options in a Trustee track shall
be issued to the Trustee, and held in trust for the benefit of the Grantees for such period of time to commence on the date of
deposit of the Options in trust, and shall end, at the earliest, upon the completion of the Holding Period, as defined in the Ordinance
(the “Restricted Period”). During the Restricted Period, the Options and/or shares, as the case may be, shall
not be exercised, transferred or be subject to an attachment, unless and to the extent permitted by the Ordinance.

 

		5.4.2	Following the lapse of the Restricted Period, the Trustee shall release the Options to the Grantee
at the Grantee’s request, only after, to the Trustee’s satisfaction, all requirements of the Tax Authorities were satisfied
in accordance with the Ordinance (including payment of the required tax).

 

		5.4.3	During the Restricted Period, all rights received from the Options / shares, including bonus shares,
shall be deposited with the Trustee for the duration of the Holding Period, and the capital gains track and the provisions of Section
102 of the Ordinance shall apply to said benefits.

 

		5.4.4	If a Grantee ceases to be employed by the Company before exercising all of the Options that he
may exercise, and before selling all of his shares, the Grantee shall provide a security or guarantee in favor of the Company,
to its satisfaction, which shall ensure timely tax payment.

 

		6.	SCOPE OF THE PLAN

 

At first, the Company reserves
from the registered unpaid capital of the Company 90,000 ordinary shares, par value 0.01 NIS per share of the Company (hereinafter:
the “Shares”) for the Plan, subject to adjustments, if any, as stated in Section 11 below. The Board may increase
this initial amount from time to time. As long as the Plan is in effect, any Share reserved for this Plan, for which the Option
expired for any reason or ended without being exercised, shall become available for grant again in accordance with this Plan.

 

		7.	GRANT OF OPTIONS

 

7.1       The
Committee, at its discretion, may grant Options for the purchase of shares of the Company under the Plan. Options can be granted
under the Plan throughout the duration of the Plan specified in Section 13 below. The grant date of each Option shall be the date
determined by the Committee on the date of its decision to grant.

 

    	 	4	 

     

    

 

7.2       The
grant of Options under the Plan shall be evidence by a written Option Agreement. The Option Agreement shall determine, inter alia,
whether the Options granted are Options under the Trustee track, the number of Options granted, the vesting dates (subject to Section
9.1), the exercise price and other terms and conditions which the Committee shall prescribe, at its discretion.

 

		8.	EXERCISE PRICE

 

The exercise price of each
Share shall be determined by the Committee, subject to any guidelines as may be determined by the Board from time to time, as long
as the exercise price is not less that the par value of the Shares. Each Option Agreement will contain the Exercise Price determined
for each Grantee. Each Option granted shall entitle the Grantee the right to purchase one share in exchange of the exercise price
and subject to the terms of the Plan, the Options Agreement, the Trust Agreement (if relevant) and the law, including the tax laws.

 

		9.	TERM AND EXERCISE OF THE OPTIONS

 

9.1       Vested
Options may be exercised provided that in no case shall the Option be exercised after the lapse of 7 years from the date it was
granted, unless a different term (longer or shorter) was explicitly determined in the terms of the Option Agreement and subject
to the shortening thereof in accordance with the provisions of Section 10 below (hereinafter: the “Exercise Period”).

 

The vesting schedule as
appears in the grant notice shall be extended in case of unpaid leave for the duration of the leave.

 

9.2       A
vested Option, or any part thereof, shall be exercisable upon the signature of the Grantee on the Exercise Notice and its delivery
to the Company (and to the Trustee when the Options are under a Trustee) at its principal office. The format of the Exercise Notice
and its content shall be determined by the Committee from time to time. The Exercise Notice shall be accompanied by payment of
the exercise price, in accordance with the Ordinance.

 

9.3       Notwithstanding
the content of this Plan, if any Option or any part thereof is not exercised and the Shares included therein are not paid for during
the Exercise Period, these Options and the right to purchase the Shares under these Options and any right of the Grantee in respect
of the Option shall expire. If the Company created an actual trust of Shares for said Options, such trust shall expire, and the
Trustee shall maintain these Shares for the Company until the Company informs him of the creation of a new trust for the other
Grantee(s).

 

    	 	5	 

     

    

 

9.4       Payment
for Shares shall be made for an entire Share amount, without the right to purchase fractions of Shares; the payment shall be made
in cash or by a cashier’s check or in any other of payment as may be customary in the Company, and shall be accompanied by
the Exercise Notice.

 

9.5       Before
exercising the Shares, the Grantees shall not have rights of shareholders in the Company in connection with the Options granted.
Furthermore, the Grantees shall not be considered a class of shareholders or creditors of the Company for purposes of the Company’s
activities according to the Companies Law, inter alia, in connection with Sections 350 and 351 of the Companies Law.

 

		10.	TERMINATION OF EMPLOYMENT 

 

10.1       In
the event the employee’s employment with the Company is terminated, or in the event that consulting services / services provided
by a consultant to the Company shall be terminated (hereinafter, jointly: “Termination of Employment”), all
Options granted to a Grantee which are vested on the Termination of Employment date may be exercised within a period of up to 6
months following the Termination of Employment date (or within another period to be determined by the Committee (the “Extension
Period”), provided that it shall not be later than the Exercise Period determined by this Plan or the Option Agreement
(if another date was determined). If, on the Employment Termination date, not all Options are vested or in the event that the vested
Options are not exercised during the Exercise Period and the Extension Period – these Options shall expire, and the Shares
reserved in favor of these Options shall be returned to the total unallocated amount reserved for future grants under the Plan,
and the Grantee shall have no right in respect thereof.

 

10.2       Termination
of Employment for Cause. Despite the aforementioned, in the event that a Grantee is terminated from his employment in the Company
“for cause” as defined below, all Options not yet exercised by the Grantee (whether vested or unvested) shall expire
immediately, unless the Committee determines otherwise, and the Shares reserved in favor of these Options shall be returned to
the total unallocated amount reserved for future grants under the Plan, and the Grantee shall have no right in respect thereof.

 

“For Cause”
for purposes of this Plan: (1) a conviction for any offense with which there is moral turpitude or an offense that is harmful to
the Company; (2) refusal to follow a reasonable instruction of the CEO or of the Board, which is related to the Company’s
business, provided that it could be followed legally; (3) embezzlement of the Company's funds or assets; (4) material breach of
the Grantee’s duty of loyalty or care towards the Company, including breach of the duty of confidentiality, prohibition of
competition and non-use; (5) material breach of the terms of the employment agreement and/or the terms of this Agreement, which
have not been corrected within 15 days of receipt of written notice; (6) in liquidation, receivership and/or termination of a Grantee
which is an incorporated entity.

 

10.3       Retirement.
Without derogating from the aforementioned in Section 10.2 above, if a Grantee retires, the Committee may, at its discretion, allow
a Grantee to continue enjoying his rights under the Plan for a period as prescribed by the same terms and conditions which the
Committee shall determine, at its discretion. The aforementioned in this Section shall not apply to a Grantee which is an incorporated
entity (not a human).

 

    	 	6	 

     

    

 

10.4       Termination
of Employment as a result of Death or Disability of the Grantee. In the event of the Grantee’s termination of employment
with the Company as a result of death or disability (as defined below), any vested Options available to the Grantee on the employment
termination date may be exercised by the Grantee, the Grantee’s guardian, estate or any individual that has the right to
exercise the Option by virtue of an inheritance or an estate within a period of twelve (12) months after the date of such termination
(or another period which the Committee shall determine in the Option Agreement), however, in any case, no later than the lapse
of the Exercise Period, as set forth in the Option Agreement. If, on the termination date, the Options are not vested, the Shares
reserved in favor of these Options shall be returned to the total unallocated amount reserved for future grants under the Plan.
If the vested Options are not exercised on the dates stated herein, the Options shall expire and the Shares reserved in favor of
these Options shall be returned to the total unallocated amount reserved for future grants under the Plan, and the Grantee, his
survivors and heirs shall have no right in respect thereof.

 

For the purpose stated
above, the term “disability” means complete and permanent inability due to illness or injury, preventing or expected
to prevent the Grantee from performing tasks required of the position in which he was employed on the eve of the onset of the disability,
as determined by the Committee, based on medical evidence acceptable to the Committee. Section 10.4 does not apply to Grantees
who are incorporated entities (i.e. not humans).

 

10.5       Forfeiture
of Options following Termination of Employment. Regardless of the reason for the Termination of Employment, if at any period
following the Termination of Employment during which the Grantee may still exercise options, the Grantee breaches the duty of confidentiality,
prohibition of competition with the Company, prohibition of solicitation of employees, suppliers or customers of the Company, prohibition
of use of the intellectual property of the Company

 

The reason of termination
notwithstanding, if during the period after the Termination of Employment during which the Grantee may still exercise Options,
the Grantee breaches the duty of confidentiality, non-competition, non-solicitation of employees, suppliers and customers of the
Company, non-use of intellectual property of the Company, or fails to sign documents transferring knowledge in favor of the Company
– binding the Grantee, the Company shall have the right to effect a forfeiture of all of the Grantee’s Options and
the Shares reserved in favor of such Options shall revert to the Plan.

 

10.6       Continuity
of Rights. For the purpose of Section 10, transfer of the Grantee from performing his position for the Company to a company
associated with the Company (and vice versa), and the transfer from status of a consultant or contractor to an employee (and vice
versa), shall not be considered Termination of Employment, to the extent permitted by law.

 

    	 	7	 

     

    

 

		11.	ADJUSTMENTS

 

Upon the occurrence of
any of the following described events, a Grantee's rights to purchase Shares under the Plan shall be adjusted as hereafter provided:

 

11.1       In
the event that the ordinary Shares of the Company are split into or consolidated with a larger or smaller number of Shares, as
applicable, or that the ordinary Shares of the Company are replaced with other securities of the Company, then during the exercise
of the Options, a Grantee shall be entitled to purchase a number of ordinary Shares or an amount of other securities of the Company
which replaced the ordinary Shares, equal to the number the Grantee was entitled to purchase on the eve of the split, consolidation,
replacement or other adjustment, in addition to the adjustment made for that amount.

 

11.2       In
the event that the Company merges with or into another corporation, in the framework of which the Company is liquidated, or that
all or most of its assets or shares are sold (hereinafter: the “Transaction”), and at that time there are Options
within the Plan that have not yet been exercised, the Company shall try to ensure that these Options are replaced with parallel
Options of the purchasing company, and their amount, exercise price, etc. shall be determined accordingly. The type of Shares which
may be purchased from the exercise of the new Options shall be the same type which the holders of Ordinary Shares of the Company
received in exchange for their Shares.

 

If the new entity refuses
to replace said Options, the Exercise Period shall be shortened to the Determining Date (as determined by the Committee) prior
to the completion of the Transaction. If the Options are not replaced, as stated above, partial acceleration of the unvested Options
shall apply, in a manner in which the number of vested Options, divided by the overall number of Options granted, multiplied by
the number of unvested Options, shall be accelerated and shall become vested Options. Numerical examples are as follows:

 

 

	Example	No.
    of

 Granted

 Options	No.
    of

 Vested

 Options	No.
    of 

Unvested

 Options	Calculation	Total
    amount of

 Vested Options
	1.	400	100	300	100 + (300 x 100/400)	175
	2.	400	200	200	200 + (200 x 200/400)	300
	3.	400	300	100	300 + (100 x 300/400)	375

 

The conditions that shall
apply to the vested Options by virtue of the acceleration shall be identical to the Options already granted, and the provisions
of Section 11.2 shall apply thereto, and if they are not exercised as stated, they shall expire together with the remaining vested
Options.

 

Without derogating from
the aforesaid, the Committee, at its exclusive discretion, may include in certain Option Agreements different provisions regarding
acceleration of the Vesting Period regarding unvested Options in the event of a Transaction, as stated above, or upon the occurrence
of other events.

 

    	 	8	 

     

    

 

Options which have not
been exercised by the Determining Date shall expire.

 

The abovementioned conditions
are subject to the actual completion of the Transaction. If the Transaction is not completed, any action taken in accordance with
sub-Section 11.2 shall be canceled until the situation is restored.

 

11.3       If
the Company issues Ordinary Shares or other securities of the Company as bonus shares which the holders of Ordinary Shares of the
Company are entitled to, then on the date the Grantee exercises Options, if he so chooses, he shall also be entitled to receive
that amount of bonus shares that he would have received had he held the same amount of Shares he now wishes to purchase, on the
eve of the distribution of the bonus shares.

 

11.4       The
Committee shall determine the specific adjustments to be made in the framework of Section 11, and its resolution shall be decisive
and final. The Committee’s resolution may be different from one Grantee to another, with the exception of its resolutions
regarding the adjustments determined in Sections 11.1 and 11.3, which shall be implemented in the same manner for all appropriate
Grantees.

 

		12.	ASSIGNMENT AND SALE OF OPTIONS

 

12.1       Options
that are exercised by virtue of this Plan shall not be assignable unless in accordance with applicable law and the Company’s
Articles of Association.

 

12.2       The
Options shall not be sold, pledged, assigned or transferred in any other way, except by way of inheritance or according to a will.
As long as the Grantee is alive, only the Grantee may exercise the Options. These limitations of assignment apply also to direct
transfer or by way of change of control of incorporated entities, unless said transfer is approved the Committee in advance and
in writing – at the Committee’s sole discretion. The terms of the Plan and the Option Agreement shall apply and bind
the guardians, heirs and transferees of the Grantee.

 

		13.	DURATION OF THE PLAN AND AMENDMENTS THERETO

 

13.1       The
Plan shall expire 10 years after its approval by the Board.

 

13.2       The
Board may, at any time and from time to time, terminate or amend the Plan in any manner, provided that the Company shall not alter
or impair material rights granted to the Grantee, without the consent of the Grantee.

 

		14.	CONTINUANCE OF EMPLOYMENT

 

Neither the Plan nor the
Option Agreement with the Grantee shall impose any obligation on the Company or an Affiliate thereof, to continue to employ any
employee or to continue to receive services provided from the Grantee, and nothing in the Plan or in any Option granted pursuant
thereto shall confer upon any Grantee any right to continue to be employed or provide services to the Company, and shall not restrict
the right of the Company to terminate such engagement with said employee or service provider or consultant at any time, with or
without cause.

 

    	 	9	 

     

    

 

		15.	APPLICABLE LAW

 

The Plan and all accompanying
documents thereof or related thereto shall be governed by and construed in accordance with the laws of the State of Israel.

 

		16.	TAX CONSEQUENCES

 

Any tax consequences arising
from the grant or exercise of any Option, the payment for Shares covered or the sale or transfer of Shares or any other act or
event related thereto (whether by the Grantee or by the Company or the Trustee), shall be borne solely by the Grantee. The Company
and/or the Trustee shall withhold taxes according to the requirements under the applicable laws, rules, and regulations, including
withholding taxes. Furthermore, the Grantee agrees to compensate and indemnify the Company and/or the Trustee and/or the shareholders
of the Company and/or the Board members and/or the office holders and hold them harmless against and from any and all liability
for any such tax or interest, including without limitation, liabilities relating to the necessity to withhold any such tax from
any payment made to the Grantee. Except as otherwise determined by law, the Company shall not be obliged to accept the exercise
of any Option by or on behalf of a Grantee until the tax consequences (if any) created as a result of the exercise of the Options
and/or sale of the Shares and/or any related action shall be resolved in a manner reasonably acceptable to the Company (and to
the Trustee – if the Shares are in a trust track).

 

		17.	MULTIPLE AGREEMENTS

 

The terms set forth in
each Option and in each Option Agreement may differ from one another, even if the Options or Option Agreements were signed at the
same time or at any other time. The Committee may also grant more than one Option to a given Grantee during the term of the Plan,
in addition to one or more Options previously granted to that Grantee. Granting of a number of Options shall be accompanied by
one notice per Grantee or by a number of notices per Grantee, as determined by the Committee.

 

		18.	NON-EXCLUSIVITY OF THE PLAN

 

The adoption of the Plan
by the Board shall not be construed as amending, modifying or rescinding any previous incentive arrangement or as creating any
limitations on the power of the Board to adopt such other incentive arrangements, including the granting of Options not under the
Plan, and such arrangement may be applicable generally or only in specific cases.

 

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

 

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