Document:

[English Translation of
an Original Hebrew Document]

Exhibit 4.17

 

INTEC PHARMA LTD.

 

EMPLOYMENT AGREEMENT

 

with

 

ZVI JOSEPH

 

AGREEMENT entered
into as of 1 day of November 2004 between Zvi Joseph, residing at 13 Menachem Begin St. Yehud, Israel (the “Employee”), and Intec
Pharma Ltd., an Israeli company with offices locate at 10 Hartom St. Jerusalem, Israel (the “Company”).

 

WITNESSETH:

 

WHEREAS, the
Company is in the business of drug delivery gastric retentive platform (the “Business”); and

 

WHEREAS, the
Company desires to employ Employee. and the Employee desires to be employed by the Company as the Company’s CEO and as the
chairman of the Board of Directors of the Company; and

 

WHEREAS, from
June, 2000 through the 30 day of October, 2004 certain services were provided to the Company by Alpha Beta Investments and Entrepreneurship
Ltd. (“Alpha Beta”) through Mr. Zvi Joseph who was an employee of Alpha Beta during such time period
(hereinafter the “Alpha Beta Employment Period”); and

 

WHEREAS, Alpha
Beta, as Mr. Joseph’s employer, covered and paid for all of the rights and amounts due to Mr. Joseph as provided for under
applicable law, for the entire Alpha Beta Employment Period; and

 

WHEREAS, the
Employee declares and authorizes that with regard to the Alpha Beta Employment Period, which as stated above terminated on the
30th day of October  2004, a full and complete accounting of all amounts due to Mr. Joseph was calculated and Mr.
Joseph received full payment for all amounts due to him under applicable law for the entire Alpha Beta Employment Period; and

 

WHEREAS, Employee
declares and authorizes that he is aware and agrees that he does not have and will not have any claims, demands and/or actions
against the Company or anybody acting on its behalf in connection with his employment by Alpha Beta during the Alpha Beta Employment
Period, and that the Alpha Beta Employment Period will not be taken into account when calculating the period of his employment
with the Company for any and all purposes, including, but not limited to, calculating his seniority with the Company
in connection with his salary and/or severance pay and/or his eligibility for other social or fringe benefits;

 

NOW THEREFORE, in
consideration of the premises and mutual agreements hereinafter contained, the parties hereto agree as follows:

 

		1.	Contents
of Agreement/Definitions

 

The preamble and the exhibits
to this Agreement constitute an integral part hereof and are hereby incorporated by reference.

 

		2.	Employment
and Duties

 

2.1         With
effect from the Effective Date (as defined in Section 3 hereto), the Company employs Employee and Employee accepts employment with
the Company as the Company’s CEO, until December 31, 2005, and as active chairman of the Board of Directors of the Company
upon the terms and conditions set forth herein. The Employee shall report regularly to the Company’s Board of Directors.

 

2.2         The
Employee shall be employed on a part time basis at a 75% position and shall perform his duties diligently and promptly for the
benefit of the Company.

 

2.3         During
the Employee’s engagement hereunder, the Employee may, in his free time, engage in other employments or occupations, so long
as such other activities do not interfere with any of the Employee’s duties hereunder, and/or would not violate section 8
hereunder.”

 

    	 	1	 

     

    

 

		3.	Term
and Termination of Employment

 

3.1         Employee’s
employment under this Agreement shall commence on the I day of November, 2004 (the “Effective Date”) and shall
end on the earliest of: (i) the death or disability (as defined herein) of Employee; (iii) termination by either party.

 

3.2         Without
derogating from the terms set forth herein, either party may terminate this agreement without cause, as hereinafter defined, by
providing three (3) months prior written notice (the “Notice Period”). During the Notice Period Employee shall
continue his services unless otherwise instructed, and shall cooperate with the Company and use his best efforts to assist the
integration into the Company organization of the person or persons who will assume the Employee’s responsibilities.

 

3.3         At
any time, the Company shall be entitled to immediately terminate Employee’s employment hereunder for ‘cause’
(as set forth in Section 4.1 below) by providing notice thereof to Employee.

 

		4.	Provisions
Concerning the Term of Employment

 

4.1         For
the purpose of this Agreement, “cause” shall exist if Employee (i) breaches any of the terms of Sections 2.1,
7, 8, 9 and 10 or; (ii) engages in willful misconduct or acts in bad faith with respect to the Company in connection with and related
to the employment hereunder; (iii) is convicted of a felony deemed to be a competent court as a flagrant offence or is held liable
by a court of competent jurisdiction for fraud against the Company; (iv) fails to comply with the instructions of the Company or
its Board of Directors given in good faith; or (v) is dismissed under the circumstances defined in Section 16 and/or Section 17
of the Severance Pay Law, 1963 (hereinafter: “The Severance Pay Law”); provided that, with respect to clauses
(i) and (iv), if Employee has cured any such condition (that is reasonably susceptible to cure) within 10 business days (“Grace
Period”) of the Notice (as defined herein), then “cause” shall be deemed not to exist. For purposes of this
Section 4, “Notice” shall constitute a written notice delivered to Employee that sets forth with particularity
the facts and circumstances relied on by the Company as the basis for cause.

 

4.2         For
the purposes of this Agreement, “disability” shall mean any physical or mental illness or injury as
a result of which Employee remains absent from work for a period of two (2) successive months, or an aggregate of two (2) months
in any twelve month period. Disability shall occur upon the end of such two (2) month period.

  

		5.	Compensation

 

		5.1	5.1.1     During
the term hereof, the Company shall pay to Employee for all services rendered by Employee under this Agreement, a salary, payable
not less often than monthly and in accordance with the Company’s normal and reasonable payroll practices, a monthly gross
amount equal to N1S 30,000 (the “Gross Salary”).

 

5.1.2     An
amount equal to 10% of the Gross Salary of the Employee, shall be considered as a special compensation for the Employee’s
obligation not to compete with the Company, as defined in Section 8 herein (hereinafter: “The Special Compensation”).

 

5.1.3     The
Company will pay the Employee the Gross Salary until the 9th of each month, for the previous month.

 

5.2         The
Company and the Employee will obtain and maintain Managers Insurance (“Bituach Menahalim”) according to the
Company’s sole discretion and the Company will inform the Employee in writing the type of such Bituach Menahalim, for the
exclusive benefit of the Employee in the customary form with respect to which the Company shall be the beneficiary. The Company
shall contribute an amount equal to thirteen and one third percent (13.33%) of each monthly Gross Salary payment (out of which
8.33% are designated for severance payments and 5% are designated for premium payments - “Company Contribution”)
and the Employee shall contribute five percent (5%) of the monthly Gross Salary payment (“Employee’s Contribution”)
toward the premiums payable in respect of such insurance (the “Insurance Policy”). The Employee hereby instructs
the Company to transfer to the insurance Company the amount of the Employee’s and the Company’s Contribution from each
monthly Gross Salary payment, on account of the Insurance Policy. The contribution under this Paragraph shall be paid after the
lapse of three months of employment, and shall be retroactive from the first month.

 

5.3         It
is hereby agreed that upon termination of employment under this Agreement, the Company shall release to the Employee all amounts
accrued in the Insurance Policy on account of both the Company’s and Employee’s Contributions. It is hereby agreed
that if the Employee is dismissed under the circumstances defined in Section 16 and/or Section 17 of the Severance Pay Law - the
Employee shall not be entitled to any Severance Pay.

 

It is hereby clearly agreed
and understood that the amounts accrued in the Insurance Policy on account of the Company’s Contribution [i.e.13.33% of each
monthly Gross Salary payment] shall be in lieu and in full and final substitution of any severance pay the Employee shall be or
become entitled to under any applicable Israeli law. This section is in accordance with Section 14 of the Severance Pay Law, and
the General Approval of the Labor Minister, dated June 30, 1998, issued in accordance to the said Section 14, a copy of which is
attached hereby as Appendix A.

 

    	 	2	 

     

    

 

5.4         The
Company shall obtain Disability Insurance (“Ovdan Kosher Avoda”), which may be included within the
Insurance Policy, for the exclusive benefit of the Employee and shall contribute therefor an amount not exceeding two and a half
percent (2.5%) of each monthly Gross Salary Payment, or such amount required to enable the payment of at least 75% of the Gross
Salary.

 

5.5         The
Company and the Employee shall open and maintain a Keren Hishtalmut Fund as of the Effective Date (the “Fund”).
The Company shall contribute to such Fund an amount equal to seven and a half percent (7.5%) and the Employee shall contribute
to such Fund an amount equal to two and a half percent (2.5%) of each monthly Gross Salary payment. The Employee hereby instructs
the Company to transfer to the Fund the amount of the Employee’s and the Company’s contribution from each monthly Gross
Salary payment.

  

5.6         The
Employee will be entitled to either (i) use a leased Company car (the “Car”). The Company will cover all the
operating expenses of the Car (excluding parking expenses), and will deduct tax from the “Shovi Rechev” as required
by Law from the Gross Salary. Payments of the Car’s expenses by the Company under this paragraph are in lieu of traveling
expenses to and from work as required by the Extension Order; or (ii) be reimbursed by the Company for Employee’s operating
car expenses, including car insurance, car maintenance, and fuel, upon presentation by Employee of proper documentation (hereinafter:
the “Car Expenses”). The Car Expenses will not form part of Employee’s social benefits and will not be
taken into account for the purpose of calculating differentials of any kind. Employee acknowledges that the reimbursement of the
Employee’s Car Expenses by the Company under this paragraph is in lieu of traveling expenses to and from work as required
by the Extension Order.

 

The Employee shall (a) make
only reasonable use of the Company Car, (b) abide by any requirements under applicable law in respect of the use of the Company
Car, (c) shall carry out timely maintenance, (d) shall keep the Company Car properly, (e) to the best of Employee’s ability,
shall refrain from causing damage to the Company Car, and (f) shall treat the Company Car in the same manner as a careful owner
would look after one’s own property

 

5.7         The
Company shall provide Employee with, and pay for the use of, a cellular phone for Employee’s use in the course of performing
his obligations under his position (the “Cellular Phone”). Employee shall bear any and all taxes applicable
to him in connection with the Cellular Phone and/or the use thereof.

 

		5.8	Options.

 

5.8.1      The
Employee shall be granted options to purchase up to 1,212 ordinary shares of the Company, par value MS 0.01, at a price per share
of NIS 0.01(the “Shares”) representing 2% of the issued and outstanding share capital of the Company on a fully diluted
basis as of the date hereof, (the “Option”). The Option shall be subject to the following vesting schedule:

 

		(i)	up
to 606 Shares, representing 1% of the issued and outstanding share capital of the Company on a fully diluted basis as of the date
hereof. may be exercised in whole or in part at any time after the lapse of the first 12 months following the Effective Date (i.e., November
1, 2005) and for the period of 72 months thereafter.

 

		(ii)	up
to 606 Shares, representing 1% of the issued and outstanding share capital of the Company on a fully diluted basis as of the date
hereof, may be exercised in whole or in part at any time after the lapse of the first 24 month following the Effective Date (i.e., November
1, 2006) and for a period of 84 months thereafter.

 

Any part of the
Option that was not exercised within the above exercise periods shall expire and be considered null and void.

 

Notwithstanding
the above said, in the event that this Agreement is terminated lawfully, for any reason and by either party, prior to the lapse
of the first 24 month following the Effective Date. the Option shall immediately expire and be considered null with respect to
such part of Option that was not vested prior to such termination. In addition, in such event, The Employee shall be entitled to
exercise any part of the Option that was already vested, if any, within 12 months following such termination. Upon the lapse of
the 12 months period the Option shall expire in full and be considered null.

 

Notwithstanding
the foregoing and for as long as this agreement is in effect, the Option may be exercised in whole or in part upon an IPO or M&A
event, as defined herein. In the event that the Option was not exercised upon such IPO or M&A event, the Option shall immediately
expire and be considered null.

 

    	 	3	 

     

    

 

5.8.2      In
addition, upon the execution by the Company of a second Strategic Agreement as defined herein, provided however that such execution
shall have occurred within two years following the Effective Date, The Employee will receive options to purchase up to 1,816 ordinary
shares of the Company, representing 3% of the Company’s issued and outstanding share capital as of the date hereof on a fully
diluted basis, at a price per share of NIS 0.01.

 

For the purpose
of this Section, “A Strategic Agreement” shall mean an agreement with a corporation or other entity, which enters into
a transaction with the Company in connection with its core business, which was approved by the affirmative vote of a majority of
the Board of Directors of the Company

 

		5.9	Bonuses.

 

5.9.1      During
the term of this Agreement, the Employee shall be entitled to receive an annual bonus in an amount equal to 5% (five percent) of
the Profit of the Company (the “Revenue Performance Bonus”). The Revenue Performance Bonus shall be
payable to the Employee within 30 (thirty) days, following the approval of the financial statements of the Company by the Company’s
Board of Directors, for each Calendar Year, commencing at the first year in which the Company achieves Profit. For the purposes
of this Section: a ‘Profit’ means — the annual net profit of the Company, in accordance with the Company’s
annual audited financial statements for the preceding year, net expenses.

 

5.9.2      Additionally,
upon the occurrence of an “IPO or M&A Event”(as defined below) during the term of this Agreement, the Employee
shall be eligible for a sale bonus in an amount equal to 5% (five percent) of the total cash consideration paid to the Company
and its shareholders with respect to such “IPO or M&A Event”,(the “Sale Bonus”) whether such
consideration was paid in cash or in kind. The Sale Bonus shall be payable to the Employee within 30 (thirty) days following the
receipt of such consideration. For the purposes of this Section an “IPO or M&A Event” shall mean any of the following:
(i) the closing of a firmly underwritten public offering of shares of Ordinary Shares (“IPO”); (ii) except in the ordinary
course of business, the sale, assignment, license, lease, or other disposal of (whether in one transaction or a series of transactions)
of a substantial portion of the Company’s assets (including any shareholdings in any other entity and a substantial portion
of its intellectual property) to any person or entity unless the Company’s shareholders of record as constituted immediately
prior to such acquisition will, immediately after such acquisition (by virtue of securities issued as consideration for the Company’s
acquisition or otherwise) hold a majority of the voting power of the acquiring entity; or (iii) a sale of shares of the Company
or a merger or consolidation of the Company as a result of which the Company’s shareholders do not retain a majority of the
voting power in the surviving corporation (each of the events detailed in sub- sections (ii)-(iii) shall be considered as a “M&A”).

 

5.9.3      During
the term of this Agreement, the Employee shall receive a cash bonus in an amount equal to two (2) % percent of any actual consideration
paid to the Company as a result of an executed Strategic Agreement. The total amount of such bonus shall be taking into account
any one time payment and/or royalty payments due to the Company within the Term pursuant to the Strategic Agreement. The Company
shall pay said cash bonus to the Employee within 30 days of receipt of the consideration.

 

5.9.4      Upon
the Closing of an Investment Transaction as defined herein the Employee will receive a one time bonus in an amount equal to US
$50,000 (the “Investment Bonus”). The Investment Bonus shall be paid to the Employee within 30 days from the
actual payment of the investment amount to the Company.

 

For the purpose
of this Section, an “Investment Transaction” shall mean, a transaction in which a third party, including current
shareholders of the Company, will invest an amount exceeding US $ 5,000,000 (5 Million) in the Company, based on Company’s
pre-money valuation of no less than US $15,000,000.

 

It is hereby clearly agreed
and understood that any Revenue Performance Bonus and/or Sale Bonus paid to the Employee, if and to the extent paid, shall not
form part of the Employee’s Gross Salary and/or the Employee’s social benefits, and will not be taken into account
for the purpose of calculating differentials of any kind.

 

		5.10	The
                                         Agreed Alternative Payment - in the event of a Claim for Overtime Payments.

 

5.10.1    Employee
agrees and acknowledges that due to his position in the Company, the Hours of Work and Rest Law, 1951 (hereinafter: “the
Hours of Work and Rest Law”) does not apply on him. Therefore, the Employee shall not be entitled
to claim or receive payments or any additional pay for overtime working hours, shifts, or work performed on Saturday or holidays.

 

5.10.2    The
Employee undertakes, by signing this Agreement, that he will not sue, and/or demand, and/or claim that he is entitled to any additional
payment to his Monthly Gross Salary due to overtime, above his Monthly Gross Salary which includes all the consideration which
the Employee is entitled to receive for overtime.

 

    	 	4	 

     

    

 

5.10.3    Therefore,
if notwithstanding the agreement of the parties and the Employee’s informed undertaking under this Agreement, it will be
decided by a competent court, or any other competent tribunal, either due to Employee’s application or any other source,
that the Hours of Work and Rest Law applies to the Employee, and that therefore the Employee is entitled to compensation, or any
other additional payments due to overtime – then the parties hereto agree that the salary, which the Employee was entitled
to, was 75% (Seventy-five percent) of the Monthly Gross Salary which was paid to the Employee under this Agreement. (hereinafter
the “Agreed Alternative Payment”).

 

5.10.4    The
Employee will be obligated to return the Company, on the day of the claim and/or demand which contradicts this Agreement, in which
it will be claimed that the Working Hours and Rest Law applies to him, and/or that he was entitled to Overtime Payments –
all additional payments that the Employee received from the Company over the Agreed Alternative Payment as defined above (the “Excess Amount”).

 

5.10.5    Each
Excess Amount that the Employee will be obligated to return to the Company as mentioned above - shall bear interest and shall be
linked to the Cost of Living Index on the Employee’s pay day – as compared to the Index on the day such amount will
be returned to the Company.

 

5.10.6    The
Company shall be entitled to set off such Excess Amounts against all amounts that the Employee shall be entitled to under this
Agreement, or under the decision of the Court or of any other competent tribunal as mentioned above, which shall not derogate from
any other right of the Company to receive from the Employee the rest of the amounts it is entitled to.

 

		6.	Taxation

 

6.1         To
the extent applicable, the Company may deduct from the compensation payable to Employee under this Agreement any and all taxes
and charges (including health tax) applicable to Employee as may now be in effect or which may hereafter be enacted or required
by law, and make the appropriate payments on behalf of Employee to the income tax authorities, the Institute of National Insurance
and any other relevant authority. Employee shall respectively pay all taxes and payments as required or shall be required by any
applicable law. Employee shall notify the Company of any change in Employee’s place of residence or status, which may affect
Employee’s tax liability anywhere in the world.

  

6.2         The
Employee acknowledges that some of the benefits granted to Employee under this Agreement may be treated by the authorities as additional
compensation to Employee, and therefore Employee agrees that, in such event Employee shall pay all taxes, national insurance contributions,
and other payments required to be paid to the authorities in connection therewith.

 

		7.	Secrecy
and Nondisclosure

 

7.1         The
Employee shall treat as secret and confidential all of the processes, methods, formulas, procedures, techniques, software, designs,
data, drawings and other information which are not of public knowledge or record pertaining to the Company’s Business (existing,
potential and future), including without limitation, all business information relating to customers and suppliers and products
of which the Employee becomes aware during and as a result of his employment or association with the Company, and Employee shall
not disclose, use, publish, or in any other manner reveal, directly or indirectly, at any time during or after the term of this
Agreement, any such processes, methods, formulas, procedures, techniques, software, designs, data, drawings and other information
pertaining to the Company’s existing or future Business or products. The Employee may disclose or use such information, if
at all, only with the prior express written consent of the Company.

 

7.2         The
Employee hereby undertakes to return, upon request, to the Company, all written materials, records, documents, computer software
and/or hardware or any other material which belongs to the Company and that might be in his possession, and if requested by the
Company to do so, will execute a written statement confirming compliance with the above said.

 

7.3         The
Employee acknowledges that all of the secrets, information, or documents aforementioned in Sub-Sections 7.1 and 7.2 above, are
essential commercial and proprietary information of the Company which is not public information and cannot easily be discovered
by others, whose confidentiality provides the Company a commercial advantage over its competitors, and the Company is taking reasonable
measures to safeguard its confidentiality.

 

7.4         The
Employee’s undertakings pursuant to this clause shall remain in force after the termination of Employee’s employment
under this Agreement unless such information as aforementioned has become generally known to the public or is independently acquired
by Employee without the use of Confidential Information or if required to disclose the information pursuant to law.

 

    	 	5	 

     

    

 

		8.	Non-Competition

 

8.1          Employee
agrees that during the term of this Agreement and for a period of one (1) year after he ceases to be employed by the Company
he will not, directly or indirectly, for his own account or as an employee, officer, director, partner, joint venturer,
shareholder, investor, consultant or otherwise (except as an investor in a corporation whose stock is publicly traded and in
which Employee holds less than 5% of the outstanding shares) and without the prior written consent of the Company. engage in
any business or enterprise, anywhere in the world, that directly competes with the Business of the Company, that exists now
or in the future or is based on similar technology to the technology that was developed by the Company.

 

8.2         Employee
agrees that during a period of six months from termination of this Agreement, he shall not employ directly or indirectly any individual
employed by the Company during the six-month period, which preceded such date of termination.

 

8.3         Employee
acknowledges that the restricted period of time and geographical area specified under Sections 8.1 and 8.2 hereof are reasonable,
in view of the nature of the business in which the Company is engaged and Employee’s knowledge of the Business.

 

8.4         Notwithstanding
anything contained in Section 8.3 to the contrary, if the period of time or the geographical area specified under Sections 8.1
or 8.2 hereof should be determined to be unreasonable in any judicial proceeding, then the period of time and area of the restriction
shall be reduced so that this Agreement may be enforced in such area and during such period of time as shall be determined to be
reasonable by such judicial proceeding.

 

8.5         If
the Employee shall breach any of his obligations under this Section 8 - The Employee will be obligated to return the Company, immediately,
the Special Compensation, as defined above. Such Special Compensation thus returned to the Company:

 

8.5.1      Shall
bear interest, and shall be linked to the Cost of Living Index on the Employee’s pay day– as compared to the Index
on the day such amount will be returned to the Company.

 

8.5.2      Shall
not derogate from any other right of the Company to receive from the Employee the rest of the amounts it is entitled to.

 

		8.6	The
Employee declares and acknowledges that:

 

8.6.1      His
obligations of protecting the confidentiality and non-competition provisions included in this agreement are fair, reasonable, and
proportional, especially in light of the special compensation he receives under this Agreement which is designed to protect the
Company’s secrets and its confidential information, which constitute the essence of its protected business and commercial
advantage in which significant capital investments were made.

 

8.6.2      Breach
of an obligation under this Section - shall contradict the nature of the special trust and relationship of loyalty between the
parties, the fair and proper business practices, the duty of good faith and fairness between the parties, shall harm the Company,
and shall constitute a material breach of this Agreement and the trade secrets, confidential connections, confidential information,
and other privileged interests of the Company.

 

8.6.3      The
Employee declares that his obligations under this section, which are reasonable and proportional - do not prevent the employee
from developing his general knowledge and professional expertise in the area of his business, with regard to those who are not
customers and employees of the Company and without usurping its trade secrets.

 

		9.	Development
Rights

 

The Employee agrees and declares
that all proprietary information including but not limited to copyrights, trade secrets and know-how, patents and other rights
in connection therewith developed by or with the contribution of Employee’s efforts during his employment by the Company
shall be the sole property of the Company, and the Employee shall execute all documents necessary to assign any patents
to the Company and otherwise transfer such proprietary rights to the Company.

 

In Addition, Employee agrees
to be bound by the terms and conditions of the Intellectual Property assignment of rights stated in Appendix B hereto,
incorporated by reference as part of this Agreement.

 

		10.	Employee
Representations and Acknowledgments

 

The Employee represents and
warrants to the Company that the execution and delivery of this Agreement and the fulfillment of the terms hereof (i) will not
constitute a default under or breach of any agreement or other instrument to which he is a party or by which he is bound, including
without limitation, any confidentiality or non-competition agreement, (ii) do not require the consent of any person or entity,
and (iii) shall not utilize during the term of his employment any proprietary information of any third party, including prior employers
of the Employee.

 

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		11.	Vacation,
Illness, Dmey Havra’ah and Reserve Duty

 

11.1        Employee
shall be entitled to thirty (30) paid vacation days during each year of his employment. Employee shall be obliged to take at least
5-paid vacation days during each year of his employment, as prescribed by law. Statutory Vacation time may be accumulated for no
more than two years after which Employee shall forfeit any unused vacation remaining at the end of such two-year period. Accumulated
Statutory vacation time shall be redeemed only in the event of the termination of employment.

 

11.2        Employee
shall be entitled to such number of working days of paid illness vacation during each year of his employment, as provided by Israeli
Labor Law, or more, in accordance with Company policy.

 

11.3        The
employee shall be entitled to “Dmey Havra’ah” in accordance with any applicable law.

 

		12.	Benefit

 

12.1        Except
as otherwise herein expressly provided, this Agreement shall inure to the benefit of and be binding upon the Company, its successors
and assigns, including, without limitation, any subsidiary or affiliated entity and shall inure to the benefit of, and be binding
upon, Employee, his heirs, executors, administrators and legal representatives. Notwithstanding the foregoing, the obligations
of Employee hereunder shall not be assignable or delegable.

 

12.2        The
parties hereby agree that at the sole discretion of the Employee, Employee shall be entitled to provide his services to the Company
through any entity (the “Entity”) which is, directly or indirectly, wholly owned and controlled by Employee, provided
that: (i) Employee shall promptly notify the Company of such decision, (ii) this agreement shall become
immediately terminated including, without limitation, termination of the employment relationship between the Company and the Employee,
and the Employee shall execute a waiver and release undertaking pursuant to which the Employee shall release the Company from any
and all obligations towards him arising out of or in connection with his employment with the Company and/or the termination of
his employment with the Company, (iii) the Company and the Entity will enter into a services agreement (the “Services Agreement”)
pursuant to which the Entity will undertake to become fully obligated to perform all of the obligations of Employee hereunder in
accordance with the terms and provisions of this Agreement, mutatis mutandis, and to indemnify and hold the Company harmless in
respect of any loss, liability, deficiency, damage, cost, or expense (including reasonable legal fees and expenses), as and when
incurred, by any of the Company against any claim by Employee with respect to the existence of an employment relationship between
the Employee and the Company following termination of this Agreement, and for any expenses incurred by the Company arising out
of such a claim, (iv) following execution of the Services Agreement, the Entity shall be entitled to receive from the Company all
benefit due to the Employee under this Agreement, including without limitation, payment of any bonuses (if applicable), such that
the costs to be actually borne by the Company in connection with the engagement of the Entity under the Services Agreement shall
be equal to the costs to be actually borne by the Company in connection with the engagement of the Employee under this Agreement
(v) the Employee shall continue to comply with the provisions of Sections 7 and 8 hereto; and (iv) the Services Agreement shall
remain in effect so long as the Entity remains fully owned and controlled by Employee.

 

		13.	Entire
Agreement

 

This Agreement constitutes
the entire understanding and agreement between the parties hereto, supersedes any and all prior discussions, agreements and correspondence
with regard to the subject matter hereof, and may not be amended, modified or supplemented in any respect, except by a subsequent
writing executed by both parties hereto.

 

		14.	Notices

 

All notices, requests and
other communications to any party hereunder shall be given or made in writing and telecopied, mailed (by registered or certified
mail) or delivered by hand to the respective party at the address set forth in the caption of this Agreement or to such other address
(or telecopier number) as such party may hereafter specify for the purpose of notice to the other party hereto. Each such notice,
request or other communication shall be effective (i) if given by facsimile, when such facsimile is transmitted to the facsimile
number specified herein and the appropriate answerback is received or (ii) if given by any other means, when delivered at the address
specified herein.

 

		15.	Affiliated
Companies

 

For the purpose of Sections
7 and 8 above, the term “Company” shall include also the Company’s parent company, Company’s subsidiary
or any company controlled or owned by the Company’s parent company.

 

		16.	Applicable
Law

 

16.1         This
Agreement shall not derogate from any Applicable Law, Extension Order, or Collective Agreement.

 

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16.2         This
Agreement shall be governed by, and construed and enforced in accordance with, the laws of Israel without giving effect to principles
of conflicts of law and the courts of Israel, Distric of Tel Aviv, shall have exclusive jurisdiction over the parties hereto and
subject matter hereof.

 

IN WITNESS WHEREOF, the
parties have executed this Agreement as of the date first appearing above.

 

INTEC PHARMA LTD.

 

	 	 	/s/ Zvi Joseph
	INTEC PHARMA LTD.	 	EMPLOYEE

 

Annex A

 

General Approval (Combined
Version) Regarding Employers’ Contributions to 

Pension Funds and Insurance Funds in lieu of Severance Pay 

Under the Severance Pay Law, 5723-1963 

[Updated as of February 28, 2001]

 

By virtue of my power under
Section 14 of the Severance Pay Law, 5723-19631 (the “Law”), I hereby confirm, that contributions made
by an employer for his employee, commencing as of the date of publication of this approval, to a comprehensive pension in a provident
fund for annuity that is not an insurance fund within the meaning of such term in the Income Tax Regulations (Rules for the Approval
and Management of Provident Funds), 5724-19642 (a “Pension Fund”) or to a managers’ insurance
that includes the possibility of an annuity or a combination of payments to an annuity plan and to a non-annuity plan within such
insurance fund (an “Insurance Fund), including combined contributions made by the employer to a Pension Fund and to an Insurance
Fund, whether or not the Insurance Fund includes an annuity plan (the “Employer’s Contributions”), shall be payable
in lieu of severance pay due to such employee in respect of the salary from which such contributions were made and the period they
were made for (the “Exempt Salary”); provided, however, that all of the following conditions have been fulfilled:

 

		(1)	The
Employer’s Contributions -

 

		(a)	To
the Pension Fund, are at a rate of no less than 14 1/3% of the Exempt Salary, or 12% of the Exempt Salary, if in addition thereto,
the employer makes supplementary severance pay contributions for his employee to a provident fund for severance pay or to an Insurance
Fund in the employee’s name, at a rate of 2 1/3% of the Exempt Salary. In the event that the employer has not contributed
such 2 1/3% in addition to said 12%, his contributions shall only replace 72% of the employee’s severance pay;

 

		(b)	To
the Insurance Fund are at a rate of no less than one of the following:

 

		(1)	13
1/3% of the Exempt Salary, if in addition thereto, the employer makes contributions for his employee for securing monthly income
in the event of disability to a plan approved by the Commissioner of the Capital Market, Insurance and Savings at the Ministry
of Finance, at the rate required to secure at least 75% of the Exempt Salary or a rate of 2 1/2% of the Exempt Salary, whichever
is lower (“Disability Insurance Contributions”); or

 

		(2)	11%
of the Exempt Salary, if the employer also made Disability Insurance Contributions, and in such case the Employer’s Contributions
shall only replace 72% of the Employee’s severance pay; In the event that the employer has made, in addition to the foregoing,
supplementary severance pay contributions to a provident fund for severance pay or to an Insurance Fund in the employee’s
name at a rate of 2 1/3% of the Exempt Salary, the Employer’s Contributions shall replace 100% of the employee’s severance
pay.

 

		1	Statues 5723, p. 136.

		2	Regulations 5724, p. 1302.

 

		(2)	By
no later than three months of the commencement date of the Employer’s Contributions, a written agreement is executed between
the employer and the employee that includes:

 

		(a)	The
employee’s consent to the arrangement pursuant to this approval in a form specifying the Employer’s Contributions,
and the Pension Fund and Insurance Fund, as applicable; such agreement shall also include the form of this approval;

 

    	 	8	 

     

    

 

		(b)3	The
employer’s advance waiver of any right he may have to a refund of monies from his contributions, unless the employee’s
right to severance pay has been revoked by virtue of Sections 16 or 17 of the Law, and to the extent so revoked, or the employee
has withdrawn monies from the Pension Fund or Insurance Fund other than by reason of an Entitling Event; in such regard “Entitling
Event” means death, disability or retirement at or after the age of 60 or more

 

		(c)	This
approval shall not derogate from the employee’s right to severance pay under any law, collective agreement, expansion order
or employment contract, in respect of salary over and above the Exempt Salary.

 

	 	Eliyahu Yishai
	 	 
	 	Minister of Labor and Social Affairs

 

	Signature of employee:	 	 
	 	 	 
	Date:	 	 	Signature:	/s/ Zvi Joseph	 

 

		3	Amendment:
Official Gazette 4803, 5760 (September 19, 1999).

  

APPENDIX B

 

Intellectual Property
assignment of rights

 

		1.	For
purposes of this Appendix, the following definitions shall apply:

 

“Inventions”
shall mean:

 

A.           All
inventions, improvements, modifications, and enhancements whether or not patentable, made by the Employee during or in the course
of employment, or which relate, directly or indirectly to the business of the Company, or which were made using the Company’
equipment; and

 

B.           All
inventions, improvements, modifications and enhancements made by the Employee, during a period of twelve (12) months (or such lesser
maximum period permitted by law) after any termination of the Employee’s employment, which relate, directly or indirectly,
to the business of the Company at the time they were so made.

 

“Work Product”
shall mean all documentation, software, hardware, firmware, creative works, artworks, know-how and information created, in whole
or in part, by the Employee during the Employee’s employment by the Company, whether or not copyrightable or otherwise protectable,
excluding Inventions.

 

“Trade Secrets”
shall mean “Commercial Secrets” as defined in the Law of Commercial Wrongs, 1999, and all documentation, software,
hardware, firmware, customer lists, know-how and other information of any kind or nature relating to the past, present or future
business of the Company or any plans therefor, or relating to the past, present or future business of a third party or plans therefor
(including but not limited to any items and information in any form determined by law as trade secrets) that are disclosed to the
Employee, which the Company does not disclose to third parties without restrictions on use or further disclosure.

 

		2.	Without
derogating from any other provision of the law:

 

A.           The
Employee shall promptly disclose to the Company all Inventions and keep accurate records relating to the conception and reduction
to practice of all Inventions. Such records shall be the sole and exclusive property of the Company, and the Employee shall surrender
possession of such records to the Company upon any termination of the Employee’s relationship with the Company.

 

B.           The
Employee hereby assigns to the Company, without additional consideration to the Employee, the entire right, title and interest
in and to the Inventions and Work Product and in and to all proprietary and any and all intellectual property rights therein or
based thereon. The Employee shall execute all such assignments, oaths, declarations and other documents as may be prepared by the
Company to effect the foregoing.

 

    	 	9	 

     

    

 

C.           During
the term of this Agreement, and thereafter, the Employee shall provide the Company with all information, documentation, and assistance
the Company may reasonably request to perfect, enforce, or defend its proprietary rights in or based on the Inventions, Work Product
and/or Trade Secrets. The Company, in its sole discretion, shall determine the extent of the proprietary rights, if any, to be
protected in or based on the Inventions and/or Work Product. All such information, documentation, and assistance shall be provided
to the Company by the Employee at no additional expense to the Company, except for out-of-pocket expenses which the Employee incurred
at the Company’ request.

 

D.           During
the term of this Agreement, and thereafter, the Employee shall treat Inventions and Work Product as Confidential Information
under this Agreement and shall not disclose them to others without the prior written permission of the Company, or use such
Inventions and/or Work Product for any purpose, other than for the performance of services for the Company.

 

3.           Remedies.   The
Employee acknowledges that a breach of the covenants contained in this Agreement and this Appendix A would result in substantial
injury and damage to the Company for which there is no adequate remedy at law. Therefore, in the event of an actual or threatened
breach of such covenants by the Employee, the Company shall be entitled, in addition to all other rights, remedies and damages
that may be available to the Company at law or in equity, to a preliminary restraining order and an injunction, or any other available
equitable remedy, to restrain the violation or attempted violation of this Agreement by the Employee or by any other person or
entity acting for her benefit or on her behalf. In the event there is any action to enforce the terms of such restrictive covenants,
the prevailing party, in addition to any other remedy, shall be entitled to recover reasonable attorney’s fees and all other
reasonable costs associated with any such action both on the trial and appellate level and in any creditor’s proceedings.
In the event that a court of competent jurisdiction determines by final non-appealable judgment that the scope, time period, or
geographical limitations of any of the restrictive covenants specifically set forth herein are too broad to be capable of enforcement,
said court is authorized, and the parties hereto stipulate that such court shall, modify said restrictive covenants and enforce
such provisions as to scope, time, and geographical areas as the court deems equitable, just and appropriate considering the intent
of the parties hereto.

 

    	 	10	 

     

    

 

Translated from Hebrew

 

Addendum to Employment
Agreement

that was Entered into and
signed in Jerusalem on October 20, 2009

 

	Between:	Intec Pharma Ltd.	 
	 	(the “Company”)	 
	 	 	of the first part;
	 	 	 
	And:	Mr. Zvi Joseph	 
	 	(“Mr. Joseph”)	 
	 	 	of the second part;
	 	 	 
	Whereas	Mr. Yosef is employed by the Company by virtue of an employment agreement of November 1, 2004 (hereinafter referred to as the “Employment Agreement” or the “Agreement”);
	 	 
	Whereas	the Company and Mr. Yosef wish to alter some of the employment terms stated in the Employment Agreement, as agreed below;

 

Wherefore the parties
have represented, stipulated and agreed as follows:

 

		1.	The
period of the Agreement – sections 3.1 and 3.2 shall be replaced by the following sections:

 

		1.1	Subject
to the provisions of section 3.3 below, the employment period pursuant to this Agreement shall be unlimited and each party may
terminate this Agreement on six months’ written notice (hereinafter referred to as the “Notice Period”). In
the Notice Period, Mr. Joseph shall continue his ordinary and routine work for the Company (unless the Company instructs him otherwise),
Mr.  Joseph shall fully cooperate with the Company and shall make best efforts to bring about a swift and successful handover to
whomever replaces him in his position.

 

		2.	The
scope of the position

 

		2.1.	The
provisions of section 5.1.1 of the Employment Agreement shall be altered as follows: instead of a monthly salary of NIS
30,000, a monthly salary of NIS 35,000 shall be noted.

 

		3.	Instead
of section 5.8.2 of the Employment Agreement, a new section 5.8.2 shall be inserted as follows:

 

The Company is
hereby allotting Mr.  Joseph, on a one-time basis, 2,893 (and in words – two thousand eight hundred and ninety three) options
to purchase ordinary shares of the Company of a par value of NIS 0.01 each (hereinafter referred to as “Ordinary
Shares”) in addition to the 1,816 (one thousand eight hundred and sixteen) options already granted to Mr.  Joseph
in accordance with section 5.8.2 of the original agreement the validity of which has expired and is hereby extended, and together
amounting to 4,709 (four thousand seven hundred and nine) reflecting, as at the execution of this Addendum, assuming their full
conversion, 1.5% (one and a half percent) of the Company’s share capital, on full dilution, immediately after the allotment.
All the aforesaid options (4,709) shall be fully vested only insofar as a “material agreement” (as defined below) is
executed between the Company and a third party within the period of this Agreement (prior to its conclusion and/or termination
for any reason) but within 18 months from the conclusion of the Employment Agreement and/or its termination for any reason (hereinafter
referred to as the “Vesting Condition”). The aforesaid options shall be allotted in the name of a
trustee and shall be subject to the Company’s option plan. Subject to fulfillment of the Vesting Condition and the provisions
of the law and from such time on, the aforesaid options shall be exercisable at an exercise price of NIS 0.01 per ordinary share,
in accordance with the timetables stated in the Company’s option plan.

 

In this section, “material
agreement” means an agreement that fulfills the following aggregate conditions: (1) an agreement with a company
or entity, (2) which is entering into a transaction with the Company (or with another entity designated by the Company for the
purpose of such engagement) in connection with the Company’s core business, (3) the agreement has been approved by a majority
of votes of the Company’s board of directors as an agreement that is material to the Company, and (4) the agreement significantly
increases the Company’s value.

 

For the avoidance
of doubt, it is expressed that in relation to the options granted pursuant to this section, insofar as the Vesting Condition is
not fulfilled (i.e. a material agreement is not executed between the Company and a third party, and within the period of the Employment
Agreement (prior to its conclusion and/or termination for any reason) or within 18 months of its conclusion and/or termination
for any reason, all the options allotted pursuant to this section shall expire and be deemed null and void, and shall not vest
Mr.  Joseph with any right.

 

    	 	11	 

     

    

 

		4.	Section
5.9.1 of the Employment Agreement is hereby cancelled forthwith and shall no longer be of any force.

 

		5.	Section
5.9.1 of the Agreement (in relation to the receipt of consideration amounting to 5% of the value of the M&A or IPO transaction)
shall be replaced by the following section:

 

In addition, the
Company is hereby allotting to Mr.  Joseph 4,709 (four thousand seven hundred and nine) options to purchase ordinary shares of the
Company of a par value of NIS 0.01 reflecting, as at the execution of this Addendum, assuming their full conversion, 1.5% (one
and a half percent) of the Company’s share capital, on full dilution, immediately after the allotment. The aforesaid options
shall be fully vested immediately after completion of the “M&A or IPO transaction” (as defined below)
of the Company (hereinafter referred to as the “Vesting Condition”).

 

The aforesaid options
shall be allotted in the name of a trustee and shall be subject to the Company’s option plan. Subject to fulfillment of the
Vesting Condition and the provisions of the law, from such time on the aforesaid options may be exercised at an exercise price
of NIS 0.01 per ordinary share, in accordance with the timetables stated in the Company’s option plan.

  

In this section, “M&A
or IPO transaction” means completion of each of the following transactions: (1) an IPO of the Company’s
Ordinary Shares, (2) the sale, assignment, rental, grant of a license or any other transaction that is not in the Company’s
ordinary course of business (in one transaction or in several transactions) of a material part of the Company’s assets (including
any holding of shares and securities in other entities) to any entity or third party, except if at the time of the transaction’s
execution as aforesaid the Company’s shareholders hold a majority of the voting rights in the entity purchasing the rights
and/or assets from the Company as aforesaid, or (3) the sale of the Company’s shares or the Company’s merger (including
and without derogation, a reverse merger, merger into a public company or publicly-traded shell company and the like) or consolidation
of the Company as a result of which the Company’s shareholders prior to the transaction’s execution do not hold a majority
of the voting rights in the entity surviving the transaction as aforesaid.

 

		6.	Section
5.9.3 of the Employment Agreement is hereby cancelled forthwith and shall no longer be valid.

 

In witness
whereof the parties have hereunto set their hands on October 20, 2009

 

	/s/ Giora Carni	 	/s/ Zvi  Joseph
	Intec Pharma Ltd.	 	Zvi  Joseph

 

    	 	12	 

     

    

 

Translated from Hebrew

 

Addendum to Agreement

Entered into and signed
in Jerusalem on July 28, 2011

 

	Between:	Intec Pharma Ltd., Company No. 513022780
	 	of 12 Hartom Street, Jerusalem
	 	(the “Company”)
	 	 	of the first part;
	 	 	 
	And:	Zvi Joseph, I.D. 022152177
	 	of 10 Menachem Begin Street, Yehud
	 	(the “Manager”)
	 	 	 
	 	 	of the second part;
	 	 	 
	Whereas	the
    Manager serves as chairman of the Company’s board of directors under an employment agreement of November 1, 2004, which,
    together with its annexes, is annexed to this Agreement as Annex A (hereinafter referred to as the “Agreement”);
	 	 
	Whereas	the parties intend that all the rights given to the Manager under the Agreement shall remain in force, and that all the terms and conditions of the Agreement shall continue to apply to the parties for an additional two years, save if and insofar as expressly altered in this Addendum.

 

Wherefore the parties
have represented, stipulated and agreed as follows:

 

		1.	The
preamble to this Addendum and the annexes hereto constitute an integral part hereof.

 

		2.	It
                                         is agreed between the parties that the Manager shall continue serving as chairman of
                                         the Company’s board of directors on terms and conditions identical to those of
                                         the Agreement and its annexes, save as expressly provided in this Addendum, such being
                                         for an additional two years commencing on May 1, 2011 (hereinafter referred to as the “Extended
                                         Employment Period”).

 

		3.	The
Manager’s monthly salary in the Extended Employment Period shall be NIS 40,000 a month linked to the index known
on the date of this Addendum’s execution. The update shall take place at the beginning of each quarter.

 

		4.	The
Manager shall be entitled to a one-time bonus of NIS 150,000 for his performance prior to the execution of this this Agreement.
This bonus shall be paid to the Manager on the date stated by him, in 30 days’ written notice to the Company.

 

		5.	In
addition, options shall be granted to the Manager as follows:

  

Allotment of options the
exercise of which is conditional upon the Manager’s continued employment

 

		5.1.	Immediately
after the entry into force of this Addendum, the Manager shall be granted, on a one-time basis, 1,041,350 (one million and forty
one thousand three hundred and fifty) options to purchase ordinary shares against an exercise price determined in accordance with
the average price of the Company’s share on the stock exchange in the 30 trading days preceding the date of the resolution’s
approval by the Company’s audit committee and board of directors (that is to say, NIS 1.6222). The said options shall vest
in eight equal lots over a period of two years, subject to the vesting terms and conditions and in the framework of the exercise
period as detailed below:

 

		(i)	130,168
                                         options (hereinafter in this section referred to as the “First Lot”) may
                                         be exercised as of the end of three calendar months from the date on which this this
                                         Agreement enters into force (hereinafter referred to as the “First Vesting
                                         Period”), until the end of 72 calendar months from the date on
                                         which they are granted. In the event that after the end of the First Vesting Period the
                                         Extended Employment Period comes to an end, the Manager shall be entitled to exercise
                                         the First Lot in accordance with the provisions of the option plan and its annexes.

 

		(ii)	130,168
                                         options (hereinafter in this section referred to as the “Second Lot”) may
                                         be exercised as of the end of six calendar months from the date on which this Agreement
                                         enters into force (hereinafter referred to as the “Second Vesting Period”), until
                                         the end of 72 calendar months from the date on which they are granted. In the event that
                                         after the end of the Second Vesting Period the Extended Employment Period comes to an
                                         end, the Manager shall be entitled to exercise the Second Lot in accordance with the
                                         provisions of the option plan and its annexes.

 

    	 	13	 

     

    

 

		(iii)	130,168
                                         options (hereinafter in this section referred to as the “Third Lot”) may
                                         be exercised as of the end of nine calendar months from the date on which this this Agreement
                                         enters into force (hereinafter referred to as the “Third Vesting Period”), until
                                         the end of 72 calendar months from the date on which they are granted. In the event that
                                         after the end of the Third Vesting Period the Extended Employment Period comes to an
                                         end, the Manager shall be entitled to exercise the Third Lot in accordance with the provisions
                                         of the option plan and its annexes.

 

		(iv)	130,168
                                         options (hereinafter in this section referred to as the “Fourth Lot”) may
                                         be exercised as of the end of 12 calendar months from the date on which this this Agreement
                                         enters into force (hereinafter referred to as the “Fourth Vesting Period”), until
                                         the end of 72 calendar months from the date on which they are granted. In the event that
                                         after the end of the Fourth Vesting Period the Extended Employment Period comes to an
                                         end, the Manager shall be entitled to exercise the Fourth Lot in accordance with the
                                         provisions of the option plan and its annexes.

 

		(v)	130,168
                                         options (hereinafter in this section referred to as the “Fifth Lot”) may
                                         be exercised as of the end of 15 calendar months from the date on which this this Agreement
                                         enters into force (hereinafter referred to as the “Fifth Vesting Period”), until
                                         the end of 72 calendar months from the date on which they are granted. In the event that
                                         after the end of the Fifth Vesting Period the Extended Employment Period comes to an
                                         end, the Manager shall be entitled to exercise the Fifth Lot in accordance with the provisions
                                         of the option plan and its annexes.

 

		(vi)	130,168
                                         options (hereinafter in this section referred to as the “Sixth Lot”) may
                                         be exercised as of the end of 18 calendar months from the date on which this this Agreement
                                         enters into force (hereinafter referred to as the “Sixth Vesting Period”), until
                                         the end of 72 calendar months from the date on which they are granted. In the event that
                                         after the end of the Sixth Vesting Period the Extended Employment Period comes to an
                                         end, the Manager shall be entitled to exercise the Sixth Lot in accordance with the provisions
                                         of the option plan and its annexes.

 

		(vii)	130,168
                                         options (hereinafter in this section referred to as the “Seventh Lot”) may
                                         be exercised as of the end of 21 calendar months from the date on which this this Agreement
                                         enters into force (hereinafter referred to as the “Seventh Vesting Period”), until
                                         the end of 72 calendar months from the date on which they are granted. In the event that
                                         after the end of the Seventh Vesting Period the Extended Employment Period comes to an
                                         end, the Manager shall be entitled to exercise the Seventh Lot in accordance with the
                                         provisions of the option plan and its annexes.

 

		(viii)	130,168
                                         options (hereinafter in this section referred to as the “Eighth Lot”) may
                                         be exercised as of the end of 24 calendar months from the date on which this this Agreement
                                         enters into force (hereinafter referred to as the “Eighth Vesting Period”), until
                                         the end of 72 calendar months from the date on which they are granted. In the event that
                                         after the end of the Eighth Vesting Period the Extended Employment Period comes to an
                                         end, the Manager shall be entitled to exercise the Eighth Lot in accordance with the
                                         provisions of the option plan and its annexes.

 

		5.2.	The
options granted pursuant to this section 5 shall be allotted in the name of a trustee on a capital track and shall be subject
to the Company’s option plan and its annexes, which comply with the requirements of section 102 of the Income Tax Ordinance.

 

		5.3.	In
the event that the Manager’s employment with the Company is terminated for any reason, all the options in respect of which
the vesting periods detailed in this section 5 have not passed shall expire, and they shall be deemed null and void.

 

		5.4.	It
is agreed that if, before the end of the vesting periods, in relation to the First Lot and/or the Second Lot and/or the Third
Lot and/or the Fourth Lot and/or the Fifth Lot and/or the Sixth lot and/or the Seventh Lot and/or the Eighth Lot, respectively,
an event of sale occurs of all or mot of the securities and/or securities of the Company are issued to the public on NASDAQ and/or
the Company’s assets and/or the Company are merged with another company (hereinafter jointly and severally referred to as “Entitling
Event”), the vesting date of the Manager’s entitlement to exercise all the options that have not yet fully
vested into ordinary shares, on the date of the Entitling Event’s occurrence, shall be accelerated.

 

    	 	14	 

     

    

 

		6.	In
addition, the following options shall be granted to the Manager:

 

Allotment of
options the exercise of which is conditional upon entry into a material agreement (as defined below)

 

		6.1.	Immediately
                                         after the entry into force of this Addendum, the Manager shall be granted, on a one-time
                                         basis, 2,082,700 (two million eighty two thousand and seven hundred) options to purchase
                                         ordinary shares against an exercise price determined in accordance with the average price
                                         of the Company’s share on the stock exchange in the 30 trading days preceding the
                                         date of the resolution’s approval by the Company’s audit committee and board
                                         of directors (that is to say, NIS 1.6222). The said options shall be fully vested immediately
                                         after the entry into force of a material agreement (hereinafter referred to as the “Vesting
                                         Condition”). The options shall remain valid for a period of up
                                         to 72 calendar months from the date on which they are granted (hereinafter referred to
                                         as the “Exercise Period”).

 

		6.2.	In
this section 6, “material agreement” means an agreement that fulfills the following aggregate conditions: (a) an agreement
with a company or entity, (b) which is entering into a transaction with the Company (or with another entity designated by the
Company for the purpose of this engagement) in connection with the Company’s core business, (c) the agreement has been approved
by a majority of votes on the Company’s board of directors as an agreement that is material to the Company, and (d) the
agreement significantly increases the Company’s value.

 

		6.3.	The
options granted pursuant to this section 6 shall be allotted in the name of a trustee on the capital track and shall be subject
to the Company’s option plan and its annexes that comply with the requirements of section 102 of the Income Tax Ordinance.

 

		6.4.	The
options under this section 6 shall expire at the end of 18 calendar months from the date of termination of the Manager’s
employment with the Company, and shall be deemed null and void and not capable if exercise if by this period entitlement to exercise
them has not vested and they have not been exercised by the Manager.

 

		7.	Payment
of the tax payable in respect of the options’ grant and/or in respect of the shares’ allotment on exercise of the
options, insofar as allotted, shall be borne exclusively by the Manager.

 

		8.	All
the other provisions of the agreement shall remain valid.

 

In witness
whereof the parties have hereunto set their hands

 

	/s/ Giora Carni	 	/s/ Zvi Joseph
	Intec Pharma Ltd.	 	Zvi Joseph

 

    	 	15	 

     

    

 

Translated from Hebrew

 

Addendum to Agreement

Entered into and signed
in Jerusalem on October 21, 2013

 

	Between:	Intec Pharma Ltd., Company No. 513022780
	 	of 12 Hartom Street, Jerusalem
	 	(the “Company”)
	 	 	of the first part;
	 	 	 
	And:	Zvi Joseph, I.D. 022152177
	 	of 10 Menachem Begin Street, Yehud
	 	(“Mr. Joseph”)
	 	 	of the second part;
	 	 	 
	Whereas	Mr.
    Joseph contracted with the Company in an employment agreement of November 1, 2004 and in the addendum to this agreement of
    October 20, 2009. On July 28, 2011, the Company’s general meeting approved an update to the employment agreement as
    aforesaid. On May 28, 2013, the Company’s general meeting approved extending the validity of Mr. Joseph’s employment
    agreement until December 31, 2013, or until the approval of a new employment agreement for Mr. Joseph, whichever is earlier
    (hereinafter jointly referred to as the “Original Agreement”);
	 	 
	Whereas	the parties intend updating the terms and conditions of the Original Agreement, all as provided below in this Addendum;

 

Wherefore the parties
have represented, stipulated and agreed as follows:

 

		1.	The
preamble to this Addendum and the annexes hereto, if any, constitute an integral part hereof.

 

		2.	All
of the terms and conditions of the Original Agreement that were in force on the date of the entry into force of the provisions
of this Addendum (with the exception of the terms and conditions expressly modified in this Addendum) shall remain in force.

 

		3.	The
terms and conditions of the engagement contemplated in the Addendum are as follows:

 

		3.1.	Period
of engagement: the period of engagement is for three years from the date of approval of the update of the terms and conditions
of the Original Agreement by the shareholders’ general meeting, which was given on October 21, 2013.

 

		3.2.	Monthly
salary: the monthly salary shall be NIS 45,000, linked to the consumer price index.

   

		3.3.	Options:
                                         Mr. Joseph shall be allotted, on a one-time basis: (1) 300,000 immediate options for
                                         the purchase of 300,000 shares of a par value NIS 0.01 each of the Company, against an
                                         exercise price equal to the share’s average closing prices in the 30 day period
                                         preceding the board of directors’ resolution on the allotment (hereinafter referred
                                         to as the “Immediate Options”). The Immediate Options
                                         shall fully vest immediately after approval of the update of the employment terms and
                                         conditions by the shareholders’ general meeting (which was given on October 21,
                                         2013). The options shall be valid for a period of 72 hours calendar months from the date
                                         on which they are granted. The options shall expire at the end of 90 days from the date
                                         of his employment’s termination; (2) 1,000,000 options to purchase 1,000,000 shares
                                         of a par value of NIS 0.01 each of the Company, against an exercise price equal to the
                                         share’s average closing prices in the 30 day period preceding the board of directors’
                                         resolution on the allotment. The options shall vest in three annual lots.
                                         The options shall be valid for a period of up to 72 calendar months from the date on
                                         which they are granted. The options shall expire at the end of 90 days from the date
                                         of termination of Mr. Yosef’s employment, and shall be deemed null and void and
                                         incapable of exercise if by such period entitlement to exercise them has not vested and
                                         they have not been exercised by Mr. Yosef; (3) 700,000 contingent options for the purchase
                                         of 700,000 shares of a par value of NIS 0.01 each of the Company, against an exercise
                                         price equal to the share’s average closing prices in the 30 day period preceding
                                         the board of directors’ resolution on their allotment (hereinafter referred to
                                         as the “Contingent Options”). The Contingent Options
                                         shall fully vest immediately after the entry into force of a material agreement. The
                                         Contingent Options shall remain valid for a period of 72 calendar months from the date
                                         on which they are granted. The options shall expire at the end of 18 months from the
                                         date of termination of Mr. Yosef’s employment, and shall be deemed null and void
                                         and incapable of exercise if by this period entitlement to exercise them has not vested
                                         and they have not been exercised by Mr. Yosef.

 

    	 	16	 

     

    

 

In such regard, a “material
agreement” shall mean an agreement satisfying the following cumulative conditions: (a) an agreement has been executed
with a company or entity, (b) which is entering into a transaction with the Company (or another entity designated by the Company
for the purpose of this engagement) in connection with the Company’s core business, (c) the agreement has been approved by
a majority of votes of the Company’s board of directors as an agreement that is material to the Company, and (d) the agreement
significantly increases the Company’s value for a reasonable duration of time.

 

In addition, 683,807
options granted to Mr. Joseph on November 1, 2004, 1,089,347 options granted to Mr. Joseph on October 20, 2009 and 2,082,700 options
granted to Mr. Joseph on July 28, 2011 shall be extended for the period of the employment agreement and shall be valid for a period
of not less than 18 months from the date of termination of the engagement with Mr. Joseph. The options as aforesaid in this sub-section
may be exercised insofar as a material agreement is executed during the period of his employment and in a period of not more than
18 months from the date of termination of Mr. Joseph’s employment agreement.

  

		3.4.	Termination
of engagement: the Company and Mr. Joseph may terminate the employment agreement on written notice of six months.

 

		4.	The
provisions of this Addendum are in force on the date of receiving all the approvals required by law.

 

In witness whereof the
parties have hereunto set their hands

 

	/s/ Giora Carni and Nir Sassi	 	/s/ Zvi Joseph
	Intec Pharma Ltd.	 	Zvi Joseph

 

    	 	17	 

     

    

 

Translated from Hebrew

 

Addendum
to Agreement

 

Made and entered
in Jerusalem as of July 19, 2016

 

	Between:	Intec Pharma Ltd., Company No. 513022780
	 	of 12 Hartom Street, Jerusalem
	 	(the “Company”)
	 	 	of the first part;
	 	 	 
	And:	Zvi Joseph, I.D. 022152177
	 	of 13 Menachem Begin Street, Yehud
	 	(“Mr. Joseph”)
	 	 	of the second part;
	 	 	 
	Whereas	Mr. Joseph has entered into an employment agreement with the Company dated November 1, 2004, as amended  on October 20, 2009, July 28, 2011, and October 21, 2013 (all jointly hereinafter referred to as the "Original Agreement"); and
	 	 
	Whereas	The parties intend to revise the terms and conditions of the Original Agreement, as set forth in this Addendum (Hereinafter: the "Addendum").

 

Wherefore the parties
have represented, stipulated and agreed as follows:

 

		1.	The
introduction to this Addendum and its annexes, if and as will be added, constitute an integral part hereof.

 

		2.	This
Addendum is subject to the final approval of the general meeting of the shareholders of the Company (the “Meeting”).
This Addendum shall be effective as of the date of the approval of the Addendum by the Meeting (the “Effective Date”).

 

		3.	All
terms and conditions of the Original Agreement, which were in full force and effect as of the Effective Date (with the exception
of the details and terms which will be explicitly modified in the Addendum), shall remain in full force and effect.

 

		4.	Terms
and Conditions of the engagement which constitute the subject of this Addendum:

 

		4.1.	Function:  Mr.
Joseph will be responsible on behalf of the Company on investors relations in Israel, and will operate in full coordination and
cooperation with Mr. Giora Carni, Board Member and Director of Technology of the Company.

 

	 	4.2.	
        Period of Engagement;
        Termination of Engagement: Notwithstanding the provisions of the Original Agreement, the engagement period shall begin on the
        Effective Date and shall end either (1) on the date that Mr. Joseph ceases to serve as a Director in the Company; or (2) after
        providing a written notice from one party to the other regarding the termination of the engagement as of the date prescribed in
        the notice which shall not exceed six months from the date of the notice.

         

        It should be clarified that
        in the event of termination of engagement according to alternative (2) above Mr. Joseph shall be entitled to receive payment for
        an additional period of six months from the date of the notice (even though his function in the Company as responsible for Investors
        Relations in Israel will end on the date prescribed in the notice).

 

		4.3.	Scope
of position: Notwithstanding the provisions of section 2.2 of the Original Agreement, the scope of the engagement shall be
revised to 50%.

 

		4.4.	Monthly
salary: Notwithstanding the provisions of section 5.1.1 of the Original Agreement, the monthly salary shall be NIS 25,000,
linked to the Isralei Consumer Price Index (updated on a yearly basis).

 

		4.5.	Stock Options: Mr. Joseph will be granted a one-time,
non- recurring grant consists of:

 

		(1)	options to purchase up to 22,500 ordinary shares of the
Company, no par value, with an exercise price of $6, to be vested in over a period of three years (one third at the end of each
year) as of the date of grant ("Options A"); and

 

    	 	18	 

     

    

 

		(2)	options to purchase up to 22,250 ordinary shares of the
Company, no-par value, for an exercise price of $ 3.46 (equal to the average closing price of the share rate during the 30 days
preceding the decision of the board of directors regarding the grant) ("Options B''). Options B vesting shall occur
over a period of four years (1/4 at the end of the first year and the rest in equal tranches over 12 consecutive quarters). Options
A and Options B will be subject to the terms of the company's compensation policy and other terms and conditions which will be
specified in the grant letter.

 

		5.	The
provisions of the Addendum are effective as of the date of receiving all the necessary approvals required by law.

 

In witness whereof the
parties have hereunto set their hands

 

	Intec
    Pharma Ltd.	 	Zvi
    Joseph
	 	 	 	 	 
	By:	/s/
    Zeev Weiss	 	By:	/s/
    Zvi     Joseph
	Name:	Zeev
    Weiss	 	Name:	Zvi
    Joseph
	Title 	Chief
    Executive Officer	 	 	 

 

    	 	19Exhibit 4.23

INTEC PHARMA LTD.

 

SUBSCRIPTION AGREEMENT

 

The undersigned (the “Subscriber”),
understands and acknowledges that Intec Pharma Ltd., an Israeli company (the “Company”), is offering
for sale Ordinary Shares of the Company, no par value (the “Shares” and the “Offering” respectively).

 

1.          Subscription.
Subject to the terms and conditions hereof, the Subscriber hereby subscribes for and agrees to purchase the Number of Shares for
the aggregate Investment Amount representing the Price Per Share (as such terms are defined in the signature page of this Subscription
Agreement).

 

2.          Acceptance
by Company. The Subscriber hereby acknowledges and agrees that (a) this Subscription Agreement will not be deemed to have been
accepted by the Company until the Company indicates its acceptance by returning to the Subscriber an executed copy of this Subscription
Agreement; and (b) notwithstanding anything in this Subscription Agreement to the contrary, the Company shall have no obligation
to issue any and all of the Shares under any circumstances that may constitute a violation of the applicable securities laws or
any other statutes, laws, rules or regulations (the “Laws”). The Subscriber agrees that his execution of this
Subscription Agreement shall be irrevocable and shall survive the death, dissolution or legal incapacity of the Subscriber.

 

3.          Deliveries
by the Subscriber. The Subscriber tenders to the Company herewith an executed copy of this Subscription Agreement encloses
herewith either: (i) a check payable to the Company, in the full amount of the Investment Amount; or (ii) written evidence that
a bank wire transfer to the Company’s bank account or to APEX Issuances' escrow account has been made with respect to the
full amount of the Investment Amount.

 

4.          Closing;
Issuance of Ordinary Shares. The Company shall notify the Subscriber promptly after all conditions hereunder have been satisfied,
at which time the transactions contemplated by this Subscription Agreement shall be deemed to have been consummated (the “Closing”).
Following and subject to the Closing, the Company (i) shall deliver to the Subscriber a share certificate evidencing the Shares
issued to the Subscriber, and (ii) shall register the Shares issued to the Subscriber in the registry of the Company’s shareholders.

 

5.          Registration
Rights of the Shares.

 

(a)          As
soon as practicable, but in no event later than sixty (60) days following the date of Closing, the Company shall prepare and file
with the Securities and Exchange Commission (the "SEC") a registration statement on Form F-3 (or, if the Company
is not then eligible to register the Shares for resale on Form F-3, on another appropriate form in accordance with applicable securities
laws), providing for the resale from time to time of the Shares by the Subscriber and Ordinary Shares acquired by other investors
in the Company. The Company shall use its reasonable commercial efforts, subject to receipt of necessary information from the Subscriber,
to cause the SEC to declare the registration statement effective as promptly as practicable, but in any event no later than the
ninetieth (90th) day after the date of Closing, if not subject to review, or the one hundred and twentieth (120th) day after the
date of Closing, if subject to review. Notwithstanding anything to the contrary herein, if the SEC takes the position that the
offering of some or all of the Shares and other Ordinary Shares is not eligible to be made on a delayed or continuous basis, the
Company shall use its reasonable commercial efforts to persuade the SEC that the offering contemplated is a valid secondary offering.
The Company shall have no liability to the Subscriber as a result of the failure to register any Shares as a result of the SEC’s
position. As soon as practicable following an intervening period of time as shall be required by the SEC, the Company shall file
one or more additional registration statements covering the resale of as many Shares allowed by the SEC not covered by the initial
registration statement. The Company shall use commercially reasonable efforts to maintain the effectiveness of the registration
statements providing for the resale of the Shares for a period of one year following the effectiveness of the initial registration
statement providing for such resale.

 

     

     

    

 

(b)          All
expenses incurred in connection with, or relating to, the registration of the Shares, excluding underwriters’ discounts
and commissions, but including without limitation all registration, filing and qualification fees, printers’ and accounting
fees, stock exchange fees, transfer agent fees and the fees and disbursements of counsel for the Company shall be paid by the
Company. The Company shall also pay the fees of counsel to the Company, transfer agent fees and any related expenses in connection
with any removal of legend pursuant to Rule 144 under the Securities Act of 1933, as amended (the “Act”) and
removal of related resale restrictions.

 

6.          Company
Conditions Precedent to Closing. The Company’s obligations, including the Company's obligations to issue the Shares at
the Closing to the Subscriber, are subject to the fulfillment on or before the Closing (unless otherwise indicated below) of the
following conditions:

 

(a)          The
Shares have been approved for listing on the Tel Aviv Stock Exchange Ltd. and, if applicable, on the Nasdaq Capital Market;

 

(b)          The
approval of the Company's shareholders to the Offering, if required, has been obtained;

 

(c)          All
covenants, agreements, obligations, deliveries and conditions contained in this Subscription Agreement, to be performed, or complied
with, by the Subscriber prior to or at the Closing shall have been performed or complied with by the Subscriber prior to or at
the Closing to the satisfaction of the Company;

 

(d)          The
representations and warranties made by the Subscriber in this Subscription Agreement shall have been true and correct in all material
respects when made, and shall be true and correct in all material respects as of the date of the Closing; and

 

(e)          The
receipt by the Company of the Investment Amount in full.

 

7.          Subscriber
Conditions Precedent to Closing. The Subscriber’s obligations are subject to the fulfillment on or before the Closing
(unless otherwise indicated below) of the following conditions:

 

(a)          All
covenants, agreements, obligations, deliveries and conditions contained in this Subscription Agreement, to be performed, or complied
with, by the Company prior to or at the Closing shall have been performed or complied with by the Company prior to or at the Closing;
and

 

(b)          The
representations and warranties made by the Company in this Subscription Agreement shall have been true and correct in all material
respects when made, and shall be true and correct in all material respects as of the date of the Closing.

 

8.          Representations
and Warranties of the Company. The Company hereby represents and warrants to the Subscriber that:

 

(a)          The
Company is duly organized and validly existing as a public company under the laws of Israel with full power and authority to conduct
its business in accordance with the Company’s articles of association in effect, as may be amended from time to time (the
“Articles of Association”).

 

(b)          All
corporate actions that are necessary for the authorization, execution and delivery of the Subscription Agreement by the Company
under any law or the Company’s Articles of Association and the performance by the Company of its obligations to be performed
hereunder, has been taken, or will be taken prior to the Closing, on part of the Company.

 

(c)          The
Shares to be issued to the Subscriber have been duly authorized by the board of directors of the Company and when issued, sold
and delivered to the Subscriber in accordance with the terms set forth herewith will be validly issued, fully paid, non-assessable
and free of restrictions on transfer other than restrictions on transfer under the any applicable Laws, the Company’s Articles
of Association and liens or encumbrances created by or imposed by the Subscriber.

 

    	 	2	 

     

    

 

(d)          There
is no material pending action, suit, proceeding, arbitration, mediation, complaint, claim, charge or investigation before any court,
arbitrator, mediator or governmental body, or to the best of Company’s knowledge, currently threatened, against the Company.

 

(e)          The
execution, delivery and performance of this Subscription Agreement and any other written agreement that the Company and the Subscriber
(as applicable) enter into in connection with the transactions contemplated hereby (collectively, the “Transaction Documents”)
has been duly authorized and approved by the board of directors of the Company. Subject to the Company’s shareholders approval
(reference in Section 6(b) above), the Transaction Documents are valid, binding and enforceable against the Company in accordance
with their respective terms and conditions except (i) as limited by applicable bankruptcy, insolvency, reorganization, moratorium,
and other laws of general application affecting enforcement of creditors’ rights generally, and (ii) as limited by laws
relating to the availability of specific performance, injunctive relief, or other equitable remedies.

 

9.          Representations
and Warranties of the Subscriber. The Subscriber hereby represents and warrants to the Company, and covenants with the Company,
as follows:

 

(a)          To
the extent applicable, the Subscriber is duly formed, existing and in good standing under the laws of its jurisdiction of organization
and has the power to conduct its business as presently conducted. The Subscriber has the requisite power and authority to execute
and deliver the Subscription Agreement and the Transaction Documents and to perform its obligations hereunder and thereunder.

 

(b)          The
execution, delivery and performance of this Subscription Agreement and the Transaction Documents has been duly authorized and approved
by the Subscriber. The Transaction Documents are valid, binding and enforceable against the Subscriber in accordance with their
respective terms and conditions except (i) as limited by applicable bankruptcy, insolvency, reorganization, moratorium, and
other laws of general application affecting enforcement of creditors’ rights generally, and (ii) as limited by laws
relating to the availability of specific performance, injunctive relief, or other equitable remedies.

 

(c)          The
Subscriber is not acting on the basis of any representations or warranties other than those contained herein, the decision to execute
this Subscription Agreement and to purchase the Shares agreed to be purchased hereunder has not been based upon any oral or written
representation as to fact or otherwise made by or on behalf of the Company and the representations and warranties contained herein
supersede any and all other representations or warranties, either oral or in writing, made by the Company prior to the Closing.

 

(d)          The
Subscriber understands and acknowledges that the business plan presented by the Company to the Subscriber may not be achieved or
be achievable and that the financial statements of the Company for fiscal year 2016 may include a going concern note.

 

(e)          No
representations or warranties have been made to the Subscriber by the Company or any advisors or consultants of the Company, as
to the tax or accounting consequences of this investment, or as to profits, losses or cash flow which may be received or sustained
as a result of this investment.

 

(f)          The
Subscriber has consulted its own tax advisors and counsel regarding the tax and accounting consequences of investment in the Company.

 

(g)          The
Subscriber neither is nor will be obligated to pay any finder’s fee in connection with the Offering.

 

(h)          The
Subscriber is either (A) an “accredited investor” as defined by Rule 501 under the Act or (B) not a “U.S. Person,”
as defined in Rule 902 under the Act and, at the time of each of the origination of contact concerning the transactions contemplated
by this Agreement and the execution and delivery of this Agreement, the Subscriber was outside of the United States. The Subscriber
is qualified as a “Classified Investor” under the First Addendum of the Israeli Securities Law of 1968, as amended
(the “Israeli Securities Law”).

 

    	 	3	 

     

    

 

(i)          The
Subscriber understands that the Shares have not been registered under the Act or the Israeli Securities Law. The Subscriber understands
that the sale of the Shares to the Subscriber will not be registered under the Act on the ground that the issuance thereof is exempt
under Section 4(a)(2) of the Act as a transaction by an issuer not involving any public offering and that, in the view of the SEC,
the statutory basis for the exception claimed would not be present if any of the representations and warranties of the Subscriber
contained in this Subscription Agreement are untrue or, notwithstanding the Subscriber’s representations and warranties,
the Subscriber currently has in mind acquiring any of the Shares for resale upon the occurrence or non-occurrence of some predetermined
event. The Subscriber is a resident of that jurisdiction specified below its name on its signature page hereto.

 

(j)          The
Shares are being purchased for investment purposes and not with a view to distribution or resale, nor with the intention of selling,
transferring or otherwise disposing of all or any part thereof for any particular price, or at any particular time, or upon the
happening of any particular event or circumstances, except selling, transferring, or disposing the Shares made in full compliance
with all applicable provisions of the Act, the rules and regulations promulgated by the SEC thereunder, and applicable state securities
laws. The Subscriber understands that an investment in the Shares is not a liquid investment.

 

(k)          The
Subscriber acknowledges and agrees the Shares will be subject to resale restrictions under applicable securities laws and understands
that: (i) the Shares have not been and are not being registered under the Act, any U.S. state securities laws or the laws of any
foreign country or other jurisdiction, and may not be offered for sale, sold, assigned or transferred unless (A) subsequently registered
thereunder or (B) the Subscriber shall have delivered to the Company an opinion of counsel, in a form reasonably acceptable to
the Company, to the effect that such Shares to be sold, assigned or transferred may be sold, assigned or transferred pursuant to
an exemption from such registration; and (ii) except as set forth in Section 5 hereof, the Company is not under any obligation
to register the Shares under the Act or any state or foreign securities laws or to comply with the terms and conditions of any
exemption thereunder. The Subscriber understands and agrees that the certificates representing the Shares will bear a restrictive
legend in accordance with the foregoing.

 

(l)          The
Subscriber (i) has such knowledge and experience with respect to the financial, tax and business aspects of ownership of the Shares
and of the business conducted by the Company that the Subscriber is capable of evaluating the merits and risks of investment in
the Company and making an informed investment decision with respect thereto, and (ii) can bear the economic risk of an investment
in the Shares including the complete loss thereof.

 

(m)          The
Subscriber acknowledges that the Subscriber has had the opportunity to ask questions of, and receive answers from the Company concerning
the Company and its business and to obtain any additional information, to the extent possessed by the Company (or to the extent
it could have been acquired by the Company without unreasonable effort or expense) necessary to verify the accuracy of the information
received by the Subscriber. In connection therewith, the Subscriber acknowledges that the Subscriber has had the opportunity to
discuss the Company’s business, management and financial affairs with the Company’s management. The Subscriber has
had the opportunity to review the Company’s filings with the SEC. In determining whether to make this investment, the Subscriber
has relied solely on the Subscriber’s own knowledge and understanding of the Company and its business based upon the Subscriber’s
own due diligence investigations and the information furnished pursuant to this paragraph. The Subscriber understands that no person
has been authorized to give any information or to make any representations which were not furnished pursuant to this paragraph
and the Subscriber has not relied on any other representations or information.

 

(n)          The
Subscriber will not sell, assign, pledge, give, transfer or otherwise dispose any of the Shares or any interest therein, or make
any offer or attempt to do any of the foregoing, except pursuant to all applicable Laws and the Articles of Association.

 

    	 	4	 

     

    

 

(o)          The
Subscriber understands that this is one of a series of subscription agreements that may be entered into by the Company with the
Subscriber and additional investors in the Company and that the Company may be issuing additional Ordinary Shares to other investors
in connection therewith.

 

(p)          In
connection with any registration statement utilized by the Company to satisfy the registration rights provided herein, the Subscriber
agrees to cooperate with the Company in connection with the preparation of the registration statement, and the Subscriber agrees
that it will provide in a timely manner information as may be requested by the Company from time to time in connection with the
preparation of and for inclusion in the registration statement and related prospectus and shall execute such documents in connection
with such registration as the Company may reasonably request. The Subscriber agrees to indemnify and hold harmless the Company
and its affiliates and their respective officers, directors, partners, members, agents and employees from and against any losses,
claims, damages or liabilities to which the Company, affiliate, officer, director, partner, member, agent or employee may become
subject (under the Act or otherwise), insofar as such losses, claims, damages or liabilities (or actions or proceedings in respect
thereof) arise out of, or are based upon, (i) any failure of the Subscriber to comply with the covenants and agreements contained
in this Subscription Agreement respecting the sale of the Shares or (ii) any untrue or alleged untrue statement of a material
fact contained in the registration statement(s) contemplated by Section 5 hereof or any omission or alleged omission of a material
fact required to be stated therein or necessary to make the statements therein not misleading if such untrue statement or omission
was made in reliance upon and in conformity with written information furnished by or on behalf of the Subscriber for use in preparation
of the registration statement(s), and the Subscriber will reimburse the Company (or such officer, director or controlling person),
as the case may be, for any legal or other expenses reasonably incurred in investigating, defending or preparing to defend any
such action, proceeding or claim.

 

10.         Notices.
All notices and other communications required or permitted hereunder to be given to a party to this Subscription Agreement shall
be in writing and shall be mailed (electronically or by postage prepaid), or otherwise delivered by hand or by courier service,
addressed to such party’s address as set forth below or at such other address as the party shall have furnished to the other
party in writing in accordance with this provision:

 

	 	If to the Company:	 
	 	 	
        To: Intec Pharma Ltd.

        12 Hartom St.

        Jerusalem, Israel 9777512

        Attention: Nir Sassi, Chief Financial Officer

	 	If to the Subscriber:	 
	 	 	To the Address that appears under the Delivery Instructions set forth in the signature page of this Subscription Agreement.

  

11.         Termination.
This Subscription Agreement shall automatically terminate if the Closing has not been consummated by March 31, 2017 (the “Outside
Date”); provided, that no such termination will affect the right of any party to sue for any breach by the other
party (or parties). If the Closing shall not have occurred prior to the Outside Date, then the Company shall promptly, and in any
event on or prior to the fifth business day immediately following the Outside Date, return to each Subscriber such Subscriber’s
Investment Amount.

 

    	 	5	 

     

    

 

12.         Miscellaneous.
This Subscription Agreement (a) supersedes any and all other representations, understandings and agreements, either oral or in
writing, between the parties hereto with respect to the subject matter hereof and constitutes the only agreement between the parties
with respect to said subject matter, (b) will be governed by, and construed and enforced in accordance with, the laws of the State
of Israel, excluding the conflict of laws provisions thereof, (c) the courts of the District of Tel Aviv - Jaffa are here granted
with exclusive jurisdiction over this Subscription Agreement, and (d) will be binding upon and inure to the benefit of the parties,
their successors and assigns; provided, however, that the Subscriber may not transfer or assign this Subscription Agreement or
any interest herein or rights or obligations hereunder without the prior written consent of the Company. Any such transfer or assignment
by the Subscriber without the prior written consent of the Company will be void and of no force or effect. Each party shall pay
the fees and expenses of its advisers, counsel, accountants and other experts, if any, and all other expenses incurred by such
party incident to the negotiation, preparation, execution, delivery and performance of this Subscription Agreement. No change or
modification of this Subscription Agreement will be valid or binding upon the parties hereto unless such change or modification
will be in writing and will be signed by the parties hereto. The Subscriber agrees that all of the representations, warranties
and covenants of the Subscriber set forth in this subscription will survive the issuance of the Shares, and shall remain in full
force and effect for as long as the Subscriber holds any equity interest in the Company. If for any reason any provision of this
Subscription is determined to be invalid, such invalidity will not impair the operation of or affect those portions of this subscription
which are valid. This Subscription Agreement may be executed in multiple counterparts, each of which when taken together will constitute
one and the same agreement.

 

[Remainder of Page Left Intentionally
Blank]

 

    	 	6	 

     

    

 

Subject
to the terms and conditions set forth under this Subscription Agreement, the undersigned Subscriber hereby irrevocably
subscribe for and agree to purchase the Number of Share for the aggregated Investment Amount
representing the Price Per Share as detailed below:

 

	NUMBER OF SHARES	 	PRICE PER SHARE	 	TOTAL INVESTMENT AMOUNT
	 	 	 	 	 
	
        _______________ Shares

        (“Number of
        Shares”)

         
	 	US$__  (“Price Per Share”)	 	
        US$ _______________

        (“Investment Amount”)

 

	REGISTRATION INSTRUCTIONS	 	DELIVERY INSTRUCTIONS
	 	 	 
	Name to appear on certificate	 	Name and account reference, if applicable
	 	 	 
	 	 	 
	I.D. Number	 	Contact name
	 	 	 
	 	 	 
	Address	 	Address
	 	 	 
	 	 	 
	 	 	Email Address
	 	 	 
	 	 	 
	 	 	Telephone Number
	 	 	 
	 	 	 
	 	 	Fax Number

 

IN WITNESS WHEREOF, the Subscriber has
duly executed this Subscription Agreement as of the date set forth below:

 

	SUBSCRIBER NAME:	 	 

 

	By:	 	 
	 	 	 
	Name:	 	 
	 	 	 
	Title:	 	 
	 	 	 
	Date:	  _____________________, 2017	 

 

    	 	7	 

     

    

 

AGREED AND ACCEPTANCE BY COMPANY

 

The above-mentioned Subscription Agreement in respect of the Shares
is hereby accepted by the Company.

 

	INTEC PHARMA LTD.	 
	 	 	 
	By:	 	 
	Name:	Nir Sassi 	 
	Title:	Chief Financial Officer	 
	Date:	 _____________________, 2017	 

 

[Intec Pharma Ltd.
- Signature Page - 2017 Subscription Agreement] 

 

    	 	8

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