Document:

Exhibit 4.29

  

LOAN CONVERSION AND WARRANT CANCELLATION AGREEMENT

 

This LOAN CONVERSION AND
WARRANT CANCELLATION AGREEMENT (the “Agreement”) is made as of ___________ by and between P.V. NANO CELL LTD.,
a company formed under the laws of the State of Israel with executive offices at 8 Hamasger Street, Migdal Haemek, Israel ( “Company”
or “PV Nano”) and ____________.

 

BACKGROUND

 

WHEREAS, at the annual
meeting of the shareholders of the Company, it was decided to offer (the “Offer”) to certain of the principal holders of the
outstanding Company convertible loans (hereinafter the “CLA”) to reprice the per share conversion price in such CLA to $0.07,
subject to such holder’s agreement to agree to cancel and forfeit the related warrants originally issued to the holder in connection
with the CLA (the “Related Warrants”), where such Offer is open through September 23, 2021, at 5:00 pm (Eastern Time USA);
and

 

WHEREAS, the Company
is hereby making the same Offer to ALL holders of Company CLA subject to the holder returning to the Company an duly executed copy of
this Agreement by no later than5:00 pm (Eastern Time USA) on September 23, 2021.

 

NOW,
THEREFORE, with the foregoing Background deemed incorporated hereinafter by this reference and hereby made a part hereof, the parties
hereto, intending to be legally bound, hereby further covenant and agree as follows.

 

1.
Conversion of the CLA. By its signature below, the undersigned Note holder agrees that the principal amount of all outstanding
CLA held by it is $______ and the accrued interest thereon through the date set forth above is $_____, for an aggregate
amount of $_____ (collectively, the “Outstanding Amount”). Effective immediately, the Outstanding Amount shall, without
any further action on the part of the Note Holder, be converted into Ordinary Shares of the Company (hereinafter the “Ordinary Shares”)
at per share conversion price of $0.07 (hereinafter the “Conversion”) such that the Note Holder shall be issued ________
Ordinary Shares in respect of such Conversion. In addition, the Note Holder hereby waives any and all events of default under the CLA
that have occurred or that continue to exist.

 

The
Note Holder agrees to forward to the Company a copy of the promissory note representing the CLA with the word “CANCELLED”
written across the first page of such note. Alternatively, if such note is not remitted to the Company the Note Holder agrees that the
Company may take all action necessary to reflect the conversion and cancellation of such warrant. 

 

2.
Cancellation of the Warrants. By its signature below, effective immediately the undersigned Note holder hereby agrees that the
Related Warrant is hereby forfeited and cancelled. 

 

The
Note Holder agrees to forward to the Company a copy of the warrant instrument representing the Related Warrants with the word “CANCELLED”
written across the first page of such warrant instrument. Alternatively, if such warrant instrument is not remitted to the Company the
Note Holder agrees that the Company may take all action necessary to reflect the forfeiture and cancellation of such warrant instrument
representing the Related Warrants. 

 

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3. Note Holder’s
Representations, Warranties and Covenants. In order to induce the Company to enter into the agreements set forth herein, the
Note Holder represents and warrants to the Company, and covenants with the Company, that, as of the date hereof:

 

 (a) (i)
Such Note Holder has the requisite power and authority to enter into and perform this Agreement and to purchase the Ordinary Shares issuable
upon the Conversion (hereinafter the “Securities”) in accordance with the terms hereof. 

 

(ii) The execution
and delivery of this Agreement by the Note Holder and the consummation by it of the transactions contemplated thereby have been duly and
validly authorized by the Note Holder’s organizational documents (if any) and no further consent or authorization is required by
the Note Holder.

 

(iii) This Agreement
constitutes the valid and binding obligation of the Note Holder enforceable against the Note Holder in accordance with its terms, except
as such enforceability may be limited by general principles of equity or applicable bankruptcy, insolvency, reorganization, moratorium,
liquidation or similar laws relating to, or affecting generally, the enforcement of creditors’ rights and remedies.

 

(b) The Note Holder understands
that the Securities are “restricted securities” and have not been registered under the Securities Act of 1933, as amended,
or any applicable state securities law and is acquiring the Securities as principal for its own account and not with a view to or for
distributing or reselling such Securities or any part thereof in violation of the Securities Act or any applicable state securities law,
has no present intention of distributing any of such Securities in violation of the Securities Act or any applicable state securities
law and has no direct or indirect arrangement or understandings with any other persons to distribute or regarding the distribution of
such Securities in violation of the Securities Act or any applicable state securities law (this representation and warranty not limiting
the Note Holder’s right to sell the Securities in compliance with applicable federal and state securities laws).

 

(c) The Note Holder acknowledges
that the Securities have been offered to it in direct communication between itself and the Company and not through any advertisement,
article, notice or other communication regarding the Securities published in any newspaper, magazine or similar media or broadcast over
the television or radio or presented in any seminar or any other general solicitation or general advertisement.

 

(d) The Note Holder acknowledges
that the Company has given it access to all information relating to the Company’s business that it has requested. The Note Holder
has reviewed all materials relating to the Company’s business, finance and operations which it has requested, including all of the
Company’s periodic and other reports filed with the Securities and Exchange Commission (“SEC”) and the Note Holder has
reviewed all of such materials as the Note Holder, in the Note Holder’s sole and absolute discretion shall have deemed necessary
or desirable. The Note Holder has had an opportunity to discuss the business, management and financial affairs of the Company with the
Company’s management.

 

(e) The Note Holder acknowledges
that it has, by reason of its business and financial experience, such knowledge, sophistication and experience in financial and business
matters and in making investment decisions of this type that it is capable of (i) evaluating the merits and risks of an investment in
the Securities and making an informed investment decision in connection therewith; (ii) protecting its own interest; and (iii) bearing
the economic risk of such investment for an indefinite period of time.

 

(d) If the Note Holder is a
U.S. Person, The Note Holder is an “accredited investor” as that term is defined in Regulation D promulgated under the Securities
Act, and will be an accredited investor on each date which it acquires any of the Securities.

 

(e ) If the Note Holder is not
a United States person (as defined by Section 7701(a)(30) of the Internal Revenue Code of 1986, as amended), the Note Holder hereby
represents that it has satisfied itself as to the full observance of the laws of its jurisdiction in connection with any invitation to
subscribe for the Securities or any use of this Agreement, including (a) the legal requirements within its jurisdiction for the purchase
of the Securities; (b) any foreign exchange restrictions applicable to such purchase; (c) any governmental or other consents
that may need to be obtained; and (d) the income tax and other tax consequences, if any, that may be relevant to the purchase, holding,
redemption, sale or transfer of the Securities. The Note Holder’s subscription for and continued beneficial ownership of the Securities
will not violate any applicable securities or other laws of the Note Holder’s Purchaser’s jurisdiction.

 

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(f) The Note has not acquired
the Securities as a result of, and will not itself engage in, any “directed selling efforts” (as defined in Regulation S promulgated
under the Securities Act) in the United States in respect of any of the Securities which would include any activities undertaken for the
purpose of, or that could reasonably be expected to have the effect of, conditioning the market in the United States for the resale of
any of the Securities, provided, however, that the Note Holder may sell or otherwise dispose of any of the Securities pursuant to registration
of any of the Securities pursuant to the 1933 Act and any applicable securities laws or under an exemption from such registration requirements

 

(g) The Note Holder hereby agrees
to indemnify the Company thereof and to hold the Company and the officers, directors and employees thereof harmless against all liability,
costs or expenses (including reasonable attorneys’ fees) arising by reason of or in connection with any misrepresentation or any
breach of warranties of the undersigned contained in this Agreement, or arising as a result of the sale or distribution of the Securities
, by the undersigned in violation of the Securities Act, the Securities Exchange Act of 1934, as amended (the “Exchange Act”),
or any other applicable law, either federal or state. This subscription and the representations and warranties contained herein shall
be binding upon the heirs, legal representatives, successors and assigns of the Note Holder.

 

(h) The Note Holder is aware
that the Securities may only be disposed of in compliance with state and federal securities laws. In connection with any transfer of the
Securities, the Company may require the transferor thereof to provide to the Company an opinion of counsel, the form and substance of
which opinion shall be reasonably satisfactory to the Company, to the effect that such transfer does not require registration of such
transferred securities under the Securities Act. Further, the Note Holder understands and acknowledges that any certificates evidencing
the Securities will bear a legend in substantially the following form:

 

THE SECURITIES EVIDENCED BY THIS
CERTIFICATE HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED, OR QUALIFIED FOR SALE UNDER ANY STATE SECURITIES LAWS
(COLLECTIVELY, “SECURITIES LAWS”) AND MAY NOT BE OFFERED, SOLD OR OTHERWISE TRANSFERRED UNLESS REGISTERED OR QUALIFIED FOR
SALE UNDER ALL APPLICABLE SECURITIES LAWS OR UNLESS, IN THE OPINION OF COUNSEL SATISFACTORY TO THE COMPANY, IN FORM AND SUBSTANCE SATISFACTORY
TO THE COMPANY, ANY SUCH OFFER, SALE OR OTHER TRANSFER IS EXEMPT FROM THE REGISTRATION OR QUALIFICATION REQUIREMENTS OF SUCH SECURITIES
LAWS.

 

(i) The Note Holder understands
and acknowledges that the Company has neither filed a registration statement with the SEC or any state authorities for the transactions
contemplated by this Agreement, and in the absence of such a registration statement or exemption, the Note Holder may have to hold the
Securities indefinitely and may be unable to liquidate any of them in case of an emergency.

 

(j) The Note Holder understands
that it is liable for its own tax liabilities and has obtained no tax advice from the Company in connection with the purchase of the Securities.

 

(k) The Note Holder acknowledges
that it understands that the risks and uncertainties highlighted in the Company’s filings with the SEC may adversely affect the
Company’s business, operating results and financial condition, and the trading price for the Common Stock on any securities trading
market or exchange and Note Holder could lose all or part of its investment.

 

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4. Release. In
consideration of the promises, covenants and releases contained herein, the adequacy of which is hereby acknowledged, the Note
Holder (on his behalf and on behalf of each of his agents, attorneys, heirs, successors, executors, personal representatives and
assigns) does hereby absolutely and unconditionally waive, release and forever discharge each of the Company, its affiliates and
subsidiaries, their respective past, present and future officers, directors, shareholders, employees, agents, attorneys, successors
and assigns (hereinafter, the “Company Released Parties”), from any claims, demands, obligations, liabilities, rights,
causes of action and damages, whether liquidated or unliquidated, absolute or contingent, known or unknown, from the beginning of
time to the Effective Date of this Agreement, or that arise under the CLA or the Related Warrants or that arise under any body of
contract law or theory of recovery. Notwithstanding the foregoing, the rights and obligations set forth in this Agreement shall
remain in full force and effect; no release hereunder shall be construed to release any rights under this Agreement.

 

5. Miscellaneous.

 

(a) Each party shall pay the
fees and expenses of its own 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 the Agreement and the transactions contemplated thereby.

 

(b) This Agreement may be executed
in two or more identical counterparts, all of which shall be considered one and the same agreement and shall become effective when counterparts
have been signed by each party and delivered to the other party; provided that a facsimile signature or signature transmitted by e-mail
shall be considered due execution and shall be binding upon the signatory thereto with the same force and effect as if the signature were
an original signature.

 

(c) The headings of this Agreement
are for convenience of reference and shall not form part of, or affect the interpretation of, this Agreement. Whenever required by the
context of this Agreement, the singular shall include the plural and neutral shall include the masculine and feminine.

 

(d) If any provision of this
Agreement shall be invalid or unenforceable in any jurisdiction, such invalidity or unenforceability shall not affect the validity or
enforceability of the remainder of this Agreement in that jurisdiction or the validity or enforceability of any provision of this Agreement
in any other jurisdiction.

 

(e) This Agreement represent
the final agreement between the Note Holder and the Company with respect to the terms and conditions set forth herein, and, the terms
of this Agreement and the Agreement may not be contradicted by evidence of prior, contemporaneous, or subsequent oral agreements of the
parties. No provision of this Agreement may be amended other than by an instrument in writing signed by the Note Holder and the Company,
and no provision hereof or thereof may be waived other than by an instrument in writing signed by the party against whom enforcement is
sought.

 

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(f) Any notices or other communications
required or permitted to be given under the terms of this Agreement must be in writing and will be deemed to have been delivered (i) upon
receipt, when delivered personally; (ii) by email or other electronic transmission when sent, (iii) upon receipt, when sent by facsimile
(provided confirmation of transmission is mechanically or electronically generated and kept on file by the sending party); or (iv) one
(1) day after deposit with a nationally recognized overnight delivery service, in each case properly addressed to the party to receive
the same. The addresses and facsimile numbers for such communications shall be:

 

If to the Company:

 

P.V. Nano Cell Ltd

Hamasger Street 8

Migdal Haemek, Israel

Attention Company Secretary

 

If to a Note Holder:

 

to the address set forth on the Note Holder’s
signature page hereto.

 

(g) This Agreement
may not be assigned by the Note Holder.

 

(h) This Agreement is intended
for the benefit of the parties hereto and is not for the benefit of, nor may any provision hereof be enforced by, any other person.

 

(i) The representations and
warranties of the Note Holder and the Company contained herein shall survive the closing and the Transaction Documents.

 

(j) Each party shall do and
perform, or cause to be done and performed, all such further acts and things, and shall execute and deliver all such other agreements,
certificates, instruments and documents, as the other party may reasonably request in order to carry out the intent and accomplish the
purposes of this Agreement and the consummation of the transactions contemplated hereby and thereby.

 

(k) The language used in this
Agreement will be deemed to be the language chosen by the parties to express their mutual intent, and no rules of strict construction
will be applied against any party, as the parties mutually agree that each has had a full and fair opportunity to review this Agreement
and the transactions contemplated thereby and seek the advice of counsel on it and them.

 

(l) This Agreement shall be
governed by and construed in accordance with the laws of the State of Israel applicable to contracts made and to be performed wholly within
such country. Each party hereby irrevocably submits to the exclusive jurisdiction of the appropriate courts sitting in Israel for the
adjudication of any dispute hereunder or in connection herewith or with any transaction contemplated hereby or discussed herein.

 

[remainder of page intentionally left blank]

 

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IN WITNESS WHEREOF the Note Holder and the Company
have executed this Agreement as of the date first above written.

 

	PV NANO CELL LTD.	 
	 	 
	By:	 	 
	Name: 	Ran Eisenberg	 
	Title:	CEO	 

 

 

6Exhibit 4.30

 

SUBSCRIPTION AGREEMENT

 

This
Subscription Agreement (this “Agreement”) has been executed by the purchaser set forth on the signature page
hereof (the “Purchaser”) in connection with the private placement offering (the “Offering”)
by P.V. Nano Cell Ltd., a company formed under the laws of the State of Israel (the “Company”).

 

R E C I T A L S

 

A. The
Company is offering to qualified accredited investors shares of its ordinary shares (the “Offering”) where each
ordinary share par value NIS .01 per share (the “Ordinary Shares”) where each Ordinary Share is being offered at price per
share of $ 0.07 (the “Purchase Price”).

 

B. The
Securities (as defined below) subscribed for pursuant to this Agreement have not been registered under the Securities Act of 1933, as
amended, the Israeli Securities Law - 1968, or of other similar securities law of another jurisdiction (collectively, the “Securities
Act”). The Offering is being made on a reasonable best efforts basis to “accredited investors,” as defined in
Regulation D under the Securities Act in reliance upon the exemption from securities registration afforded by Section 4(a)(2) of
the Securities Act and Rule 506 of Regulation D and to investors in an offshore transaction exempt from registration under the Securities
Act.

 

AGREEMENT

 

The Company and the Purchaser
hereby agree as follows:

 

1. Subscription.

 

1.1 Purchase
and Sale of the Securities.

 

(a) Subject to
the terms and conditions of this Agreement, the undersigned Purchaser agrees to purchase, and the Company agrees to sell and issue to
such Purchaser, that number of Ordinary Shares set forth on such Purchaser’s Signature Page attached hereto at the Purchase Price,
for a total aggregate Purchase Price as set forth on such Omnibus Signature Page.

 

(b) This
Agreement is one of a series of subscription agreements issued (and to be issued) by the Company to purchasers of Ordinary Shares in connection
with the Offering with the same terms and conditions for a maximum offering amount of $5 million to be followed by an additional offering
of maximum of $3 million (each, a “Subscription Agreement”, and collectively, the “Subscription
Agreements”).

 

1.2 Subscription
Procedure; Closing.

 

(a)
Closing. Subject to the terms and conditions of this Agreement, the initial closing of the Ordinary Share shall take place remotely
via the exchange of documents and signatures or at such other time and place as fixed by the Company (as defined in Section 2) (the
“Closing”).

 

(b) Subscription
Procedure. To complete a subscription for the Ordinary Share, the Purchaser must fully comply with the subscription procedure provided
in paragraphs a. and b of this Section on or before the applicable Closing:

 

(i) Subscription
Documents. At or before the Closing, the Purchaser shall review, complete and execute the Signature Page to this Agreement, Investor
Profile, Anti-Money Laundering Form and Investor Certification, attached hereto following the Omnibus Signature Page (collectively, the
“Subscription Documents”), if applicable, additional forms and questionnaires distributed to the Purchaser and
deliver the Subscription Documents and such additional forms and questionnaires to the party indicated thereon at the address set forth
on the signature page below. Executed documents may be delivered to such party by facsimile or .pdf sent by electronic mail (e-mail).

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(ii) Purchase
Price. The Purchaser shall deliver to the Company the full Purchase Price by wire transfer of immediately available funds within three
business days from the delivery by the Company to the Purchaser by email of the Company’s certification that the Company has received
legally binding subscription agreements for an aggregate amount of $5 million in the Offering on the same terms and conditions contained
herein.

 

2. Representations
and Warranties of the Company. The Company hereby represents and warrants to the Purchaser, as of the Closing, the following:

 

a. Organization
and Qualification. The Company is a corporation duly organized, validly existing and in good standing under the laws of the State
of Israel, and has the requisite corporate power to own its properties and to carry on its business as now being conducted. The Company
is duly qualified to do business and is in good standing in every jurisdiction in which the nature of the business conducted by it makes
such qualification necessary, except to the extent that the failure to be so qualified would not have a material adverse effect on the
assets, business, financial condition, results of operations or future prospects of the Company taken as a whole (a “Material
Adverse Effect”).

 

b. Authorization,
Enforcement, Compliance with Other Instruments. (i) The Company has the requisite corporate power and authority to enter into
and perform its obligations under this Agreement (the “Transaction Documents”) and to issue the Ordinary
Shares (collectively, the “Securities”), in accordance with the terms hereof and thereof; (ii) the execution
and delivery by the Company of each of the Transaction Documents and the consummation by it of the transactions contemplated hereby and
thereby, including, without limitation, the issuance of the Securities, have been, or will be at the time of execution of such Transaction
Document by the Company, duly authorized by the Company’s Board of Directors, and no further consent or authorization is, or will
be at the time of execution of such Transaction Document, required by the Company, its Board of Directors or its stockholders; (iii) each
of the Transaction Documents will be duly executed and delivered by the Company; and (iv) the Transaction Documents when executed
will constitute the valid and binding obligations of the Company enforceable against the Company in accordance with their terms, except
as such enforceability may be limited by general principles of equity or applicable bankruptcy, insolvency, reorganization, moratorium,
liquidation or similar laws relating to, or affecting generally, the enforcement of creditors’ rights and remedies and, with respect
to any rights to indemnity or contribution contained in the Transaction Documents, as such rights may be limited by state or federal laws
or public policy underlying such laws.

 

c. Issuance
of Securities. The Securities that are being issued to the Purchaser hereunder, when issued, sold and delivered in accordance with
the terms and for the consideration set forth in this Agreement, will be duly and validly issued, fully paid and non-assessable, and free
of restrictions on transfer other than restrictions on transfer under the Transaction Documents, applicable state and federal securities
laws and liens or encumbrances created by or imposed by the Purchaser.

 

d. No
Conflicts. The execution, delivery and performance of each of the Transaction Documents by the Company, and the consummation by the
Company of the transactions contemplated hereby and thereby including issuance and sale of the Securities in accordance with this Agreement
will not (i) result in a violation of the Memorandum or the Articles of Association (or equivalent constitutive document) of the
Company or any of its subsidiaries or (ii) violate or conflict with, or result in a breach of any provision of, or constitute a default
(or an event which with notice or lapse of time or both would become a default) under, or give to others any rights of termination, amendment,
acceleration or cancellation of, any agreement, indenture or instrument to which the is a party, except for those which would not reasonably
be expected to have, individually or in the aggregate, a Material Adverse Effect, or (iii) result in a violation of any law, rule,
regulation, order, judgment or decree (including U.S. federal and state securities laws and regulations) applicable to the Company or
any subsidiary or by which any property or asset of the Company or any subsidiary is bound or affected, except for those which would not
reasonably be expected, individually or in the aggregate, to have a Material Adverse Effect. The Company is not in violation of or in
default under, any provision of its Memorandum or Articles of Association. The Company is not in violation or breach of any term of or
in default under any contract, agreement, mortgage, indebtedness, indenture, instrument, judgment, decree or order or any statute, rule
or regulation applicable to the Company or any subsidiary, except for any violations, breaches or defaults which would not reasonably
be expected to have, individually or on the aggregate, a Material Adverse Effect. Neither the execution and delivery by the Company of
the Transaction Documents, nor the consummation by the Company of the transactions contemplated hereby or thereby, will require any notice,
consent or waiver under any contract or instrument to which the Company or any subsidiary is a party or by which the Company is bound
or to which any of their assets is subject, except for any notices, consents or waivers the absence of which would not reasonably be expected,
individually or in the aggregate, to have a Material Adverse Effect.

 

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e. Absence
of Litigation. There is no action, suit, claim, inquiry, notice of violation, proceeding (including any partial proceeding such as
a deposition) or investigation before or by any court, public board, governmental or administrative agency, self-regulatory organization,
arbitrator, regulatory authority, stock market, stock exchange or trading facility (an “Action”) now pending
or, to the knowledge of the Company, threatened against or affecting the Company or any of its subsidiaries or any of their respective
officers or directors, (i) which, together with all other Actions, would be reasonably likely to adversely affect the validity or
enforceability of, or the authority or ability of the Company to perform its obligations under, this Agreement or any of the other Transaction
Documents, or (ii) which, together with all other Actions, would be reasonably likely to have a Material Adverse Effect. For the purpose
of this Agreement, the knowledge of the Company means the knowledge of the officers of the Company (both actual or knowledge that they
would have had upon reasonable inquiry of the personnel responsible for the applicable subject matter).

 

f. Use
of Proceeds. The Company presently intends to use the net proceeds from the Offering to fund continuing design and development of
its product line, regulatory approval process, production and marketing as well for working capital and other general corporate purposes.

 

g. All of the information
concerning the Company set forth herein, and any other information furnished by the Company in writing to the Purchaser for use in connection
with the transactions contemplated by this Agreement, is true, correct and complete in all material respects as of the date of this Agreement,
and, if there should be any material change in such information prior to the Purchaser’s purchase of the Securities, the Company
will promptly furnish revised or corrected information to the Purchaser.

 

3. Representations,
Warranties and Agreements of the Purchaser. The Purchaser, severally and not jointly with any other Purchaser, represents and
warrants to, and agrees with, the Company the following:

 

a. The
Purchaser has the knowledge and experience in financial and business matters necessary to evaluate the merits and risks of its prospective
investment in the Company, and has carefully reviewed and understands the risks of, and other considerations relating to, the purchase
of Securities and the tax consequences of the investment, and has the ability to bear the economic risks of the investment. The Purchaser
can afford the loss of his, her or its entire investment.

 

b. The
Purchaser is acquiring the Securities for investment for his, her or its own account and not with the view to, or for resale in connection
with, any distribution thereof. The Purchaser understands and acknowledges that the Offering and sale of the Securities have not been
registered under the Securities Act or any state securities laws, by reason of a specific exemption from the registration provisions of
the Securities Act and applicable state securities laws, which depends upon, among other things, the bona fide nature of the investment
intent as expressed herein. The Purchaser further represents that he, she or it does not have any contract, undertaking, agreement or
arrangement with any person to sell, transfer or grant participation to any third person with respect to any of the Securities. Subject
to the provisions of Section 5 below, the Purchaser understands and acknowledges that the Offering of the Securities will not be registered
under the Securities Act nor under the state securities laws on the ground that the sale of the Securities to the Purchaser as provided
for in this Agreement and the issuance of securities hereunder is exempt from the registration requirements of the Securities Act and
any applicable state securities laws. The Purchaser is an “accredited investor” as defined in Rule 501 of Regulation D as
promulgated by the SEC under the Securities Act, for the reason(s) specified on the Accredited Investor Certification as
completed by Purchaser, and Purchaser shall submit to the Company such further assurances of such status as may be reasonably requested
by the Company. The Purchaser resides in the jurisdiction set forth on the Purchaser’s Omnibus Signature Page affixed hereto. The
Purchaser has not taken any of the actions set forth in, and is not subject to, the disqualification provisions of Rule 506(d)(1) of the
Securities Act.

 

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c. The
Purchaser (i) if a natural person, represents that he or she is the greater of (A) 21 years of age or (B) the age of legal majority
in his or her jurisdiction of residence, and has full power and authority to execute and deliver this Agreement and all other related
agreements or certificates and to carry out the provisions hereof and thereof; (ii) if a corporation, partnership, limited liability
company, association, joint stock company, trust, unincorporated organization or other entity, represents that such entity was not formed
for the specific purpose of acquiring the Securities, such entity is duly organized, validly existing and in good standing under the laws
of the state or jurisdiction of its organization, the consummation of the transactions contemplated hereby is authorized by, and will
not result in a violation of state law or its charter or other organizational documents, such entity has full power and authority to execute
and deliver this Agreement and all other related agreements or certificates and to carry out the provisions hereof and thereof and to
purchase and hold the Securities, the execution and delivery of this Agreement has been duly authorized by all necessary action, this
Agreement has been duly executed and delivered on behalf of such entity and is a legal, valid and binding obligation of such entity; or
(iii) if executing this Agreement in a representative or fiduciary capacity, represents that he, she or it has full power and authority
to execute and deliver this Agreement in such capacity and on behalf of the subscribing individual, ward, partnership, trust, estate,
corporation, or limited liability company or partnership, or other entity for whom the Purchaser is executing this Agreement, and such
individual, partnership, ward, trust, estate, corporation, or limited liability company or partnership, or other entity has full right
and power to perform pursuant to this Agreement and make an investment in the Company, and represents that this Agreement constitutes
a legal, valid and binding obligation of such entity. The execution and delivery of this Agreement will not violate or be in conflict
with any order, judgment, injunction, agreement or controlling document to which the Purchaser is a party or by which it is bound.

 

d. The
Purchaser understands that the Securities are being offered and sold to him, her or it in reliance on specific exemptions from the registration
requirements of United States federal and state securities laws and that the Company is relying in part upon the truth and accuracy of,
and such Purchaser’s compliance with, the representations, warranties, agreements, acknowledgments and understandings of such Purchaser
set forth herein in order to determine the availability of such exemptions and the eligibility of such Purchaser to acquire such securities.
The Purchaser further acknowledges and understands that the Company is relying on the representations and warranties made by the Purchaser
hereunder and that such representations and warranties are a material inducement to the Company to sell the Securities to the Purchaser.
The Purchaser further acknowledges that without such representations and warranties of the Purchaser made hereunder, the Company would
not enter into this Agreement with the Purchaser.

 

e. The
Purchaser understands that no public market exists for the Company’s shares and that there can be no assurance that any public market
for the shares will exist or continue to exist.

 

f. The
Purchaser has received, reviewed and understood the information about the Company, and has had an opportunity to discuss the Company’s
business, management and financial affairs with the Company’s management. The Purchaser understands that such discussions, were
intended to describe the aspects of the Company’s business and prospects and the Offering which the Company believes to be material,
but were not necessarily a thorough or exhaustive description, and except as expressly set forth in this Agreement, the Company makes
no representation or warranty with respect to the completeness of such information and makes no representation or warranty of any kind
with respect to any information provided by any entity other than the Company. Some of such information may include projections as to
the future performance of the Company, which projections may not be realized, may be based on assumptions which may not be correct and
may be subject to numerous factors beyond the Company’s control. The Purchaser acknowledges that he, she or it is not relying upon
any person or entity, other than the Company and its officers and directors, in making its investment or decision to invest in the Company.
Each Purchaser has sought such accounting, legal and tax advice as the Purchaser has considered necessary to make an informed investment
decision with respect to his, her or its acquisition of the Securities.

 

g. The
Purchaser acknowledges that the Company is not acting as a financial advisor or fiduciary of the Purchaser (or in any similar capacity)
with respect to the Transaction Documents and the transactions contemplated hereby and thereby, and no investment advice has been given
by the Company or any of their respective representatives or agents in connection with the Transaction Documents and the transactions
contemplated hereby and thereby. The Purchaser further represents to the Company that the Purchaser’s decision to enter into the
Transaction Documents has been based solely on the independent evaluation by the Purchaser and the Purchaser’s representatives,
as well as the provisions of the Transaction Documents.

 

    4

     

    

 

h. As
of the applicable Closing, all actions on the part of Purchaser, and its officers, directors and partners, if applicable, necessary for
the authorization, execution and delivery of this Agreement and the performance of all obligations of the Purchaser hereunder and thereunder
shall have been taken, and this Agreement, assuming due execution by the parties hereto and thereto, constitute valid and legally binding
obligations of the Purchaser, enforceable in accordance with their respective terms, subject to: (i) judicial principles limiting
the availability of specific performance, injunctive relief, and other equitable remedies and (ii) bankruptcy, insolvency, reorganization,
moratorium or other similar laws now or hereafter in effect generally relating to or affecting creditors’ rights.

 

i. Purchaser
represents that neither it nor, to its knowledge, any person or entity controlling, controlled by or under common control with it, nor
any person having a beneficial interest in the Purchaser, nor any person on whose behalf the Purchaser is acting: (i) is a person
listed in the Annex to Executive Order No. 13224 (2001) issued by the President of the United States (Executive Order Blocking Property
and Prohibiting Transactions with Persons Who Commit, Threaten to Commit, or Support Terrorism); (ii) is named on the List of Specially
Designated Nationals and Blocked Persons maintained by the U.S. Office of Foreign Assets Control; (iii) is a non-U.S. shell
bank or is providing banking services indirectly to a non-U.S. shell bank; (iv) is a senior non-U.S. political
figure or an immediate family member or close associate of such figure; or (v) is otherwise prohibited from investing in the Company
pursuant to applicable U.S. anti-money laundering, anti-terrorist and asset control laws, regulations, rules or orders (categories (i) through
(v), each a “Prohibited Purchaser”). The Purchaser agrees to provide the Company, promptly upon request, all
information that the Company reasonably deems necessary or appropriate to comply with applicable U.S. anti-money laundering, anti-terrorist
and asset control laws, regulations, rules and orders. The Purchaser consents to the disclosure to U.S. regulators and law enforcement
authorities by the Company and its Affiliates and agents of such information about the Purchaser as the Company reasonably deems necessary
or appropriate to comply with applicable U.S. anti-money laundering, anti-terrorist and asset control laws, regulations, rules and orders.
If the Purchaser is a financial institution that is subject to the USA Patriot Act, the Purchaser represents that it has met all of its
obligations under the USA Patriot Act. The Purchaser acknowledges that if, following its investment in the Company, the Company reasonably
determines that the Purchaser is a Prohibited Purchaser or is otherwise engaged in suspicious activity or refuses to promptly provide
information that the Company requests, the Company has the right or may be obligated to prohibit additional investments, segregate the
assets constituting the investment in accordance with applicable regulations or immediately require the Purchaser to transfer the Securities.
The Purchaser further acknowledges that neither the Purchaser nor any of the Purchaser’s Affiliates or agents will have any claim
against the Company for any form of damages as a result of any of the foregoing actions.

 

j. If
the Purchaser is Affiliated with a non-U.S. banking institution (a “Foreign Bank”), or if the Purchaser
receives deposits from, makes payments on behalf of, or handles other financial transactions related to a Foreign Bank, the Purchaser
represents and warrants to the Company that: (1) the Foreign Bank has a fixed address, other than solely an electronic address, in
a country in which the Foreign Bank is authorized to conduct banking activities; (2) the Foreign Bank maintains operating records
related to its banking activities; (3) the Foreign Bank is subject to inspection by the banking authority that licensed the Foreign
Bank to conduct banking activities; and (4) the Foreign Bank does not provide banking services to any other Foreign Bank that does
not have a physical presence in any country and that is not a regulated Affiliate.

 

k. The
Purchaser or its duly authorized representative realizes that because of the inherently speculative nature of businesses of the kind conducted
and contemplated by the Company, the Company’s financial results may be expected to fluctuate from month to month and from period
to period and will, generally, involve a high degree of financial and market risk that could result in substantial or, at times, even
total losses for investors in securities of the Company.

 

    5

     

    

 

l. The
Purchaser has adequate means of providing for its current and anticipated financial needs and contingencies, is able to bear the economic
risk for an indefinite period of time and has no need for liquidity of the investment in the Securities and could afford complete loss
of such investment.

 

m. The
Purchaser is not subscribing for Securities as a result of or subsequent to any advertisement, article, notice or other communication,
published in any newspaper, magazine or similar media or broadcast over television, radio, or the internet, or presented at any seminar
or meeting, or any solicitation of a subscription by a person not previously known to the Purchaser in connection with investments in
securities generally.

 

n. The
Purchaser acknowledges that no U.S. federal or state agency or any other government or governmental agency has passed upon the Securities
or made any finding or determination as to the fairness, suitability or wisdom of any investments therein.

 

o. All
of the information concerning the Purchaser set forth herein, and any other information furnished by the Purchaser in writing to the Company
for use in connection with the transactions contemplated by this Agreement, is true, correct and complete in all material respects as
of the date of this Agreement, and, if there should be any material change in such information prior to the Purchaser’s purchase
of the Securities, the Purchaser will promptly furnish revised or corrected information to the Company.

 

p. The
Purchaser has reviewed with its own tax advisors the U.S. federal, state, local and foreign tax consequences of this investment and the
transactions contemplated by the Transaction Documents. With respect to such matters, such Purchaser relies solely on such advisors and
not on any statements or representations of the Company or any of its agents, written or oral. The Purchaser understands that it (and
not the Company) shall be responsible for its own tax liability that may arise as a result of this investment or the transactions contemplated
by the Transaction Documents.

 

q. If
the Purchaser is not a United States person (as defined by Section 7701(a)(30) of the Internal Revenue Code of 1986, as amended),
the Purchaser hereby represents that it has satisfied itself as to the full observance of the laws of its jurisdiction in connection with
any invitation to subscribe for the Securities or any use of this Agreement, including (a) the legal requirements within its jurisdiction
for the purchase of the Securities; (b) any foreign exchange restrictions applicable to such purchase; (c) any governmental
or other consents that may need to be obtained; and (d) the income tax and other tax consequences, if any, that may be relevant to
the purchase, holding, redemption, sale or transfer of the Securities. The Purchaser’s subscription and payment for and continued
beneficial ownership of the Securities will not violate any applicable securities or other laws of the Purchaser’s jurisdiction.

 

r.
The Purchaser has not acquired the Securities as a result of, and will not itself engage in, any “directed selling efforts”
(as defined in Regulation S) in the United States in respect of any of the Securities which would include any activities undertaken for
the purpose of, or that could reasonably be expected to have the effect of, conditioning the market in the United States for the resale
of any of the Securities, provided, however, that the Purchaser may sell or otherwise dispose of any of the Securities pursuant to registration
of any of the Securities pursuant to the 1933 Act and any applicable securities laws or under an exemption from such registration requirements

 

    6

     

    

 

s. (For
ERISA plans only) The fiduciary of the Employee Retirement Income Security Act of 1974 (“ERISA”) plan
(the “Plan”) represents that such fiduciary has been informed of and understands the Company’s investment
objectives, policies and strategies, and that the decision to invest “plan assets” (as such term is defined in ERISA) in the
Company is consistent with the provisions of ERISA that require diversification of plan assets and impose other fiduciary responsibilities.
The Purchaser fiduciary or Plan (a) is responsible for the decision to invest in the Company; (b) is independent of the Company
or any of its Affiliates; (c) is qualified to make such investment decision; and (d) in making such decision, the Purchaser
fiduciary or Plan has not relied primarily on any advice or recommendation of the Company or any of its Affiliates.

 

t. Neither
the Purchaser nor, to the Purchaser’s knowledge, any of its directors, executive officers, other officers that may serve as a director
or officer of any company in which it invests, general partners or managing members is subject to any Disqualification Events, except
for Disqualification Events covered by Rule 506(d)(2)(ii) or (iii) under the Securities Act, and disclosed in writing in reasonable
detail to the Company.

 

u. The
Purchaser understands that there are substantial restrictions on the transferability of the Securities and that the certificates representing
the Securities shall bear a restrictive legend in substantially the following form (and a stop-transfer order may be placed against transfer
of such certificates or other instruments):

 

THE SECURITIES REPRESENTED
BY THIS CERTIFICATE HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE “SECURITIES ACT”),
OR ANY STATE SECURITIES LAWS, AND NEITHER SUCH SECURITIES NOR ANY INTEREST THEREIN MAY BE OFFERED, SOLD, PLEDGED, ASSIGNED OR OTHERWISE
TRANSFERRED UNLESS (1) A REGISTRATION STATEMENT WITH RESPECT THERETO IS EFFECTIVE UNDER THE SECURITIES ACT AND ANY APPLICABLE STATE
SECURITIES LAWS, OR (2) AN EXEMPTION FROM SUCH REGISTRATION EXISTS AND THE COMPANY RECEIVES AN OPINION OF COUNSEL, WHICH COUNSEL
AND OPINION ARE REASONABLY SATISFACTORY TO THE COMPANY, THAT SUCH SECURITIES MAY BE OFFERED, SOLD, PLEDGED, ASSIGNED OR TRANSFERRED IN
THE MANNER CONTEMPLATED WITHOUT AN EFFECTIVE REGISTRATION STATEMENT UNDER THE SECURITIES ACT OR APPLICABLE STATE SECURITIES LAWS OR (3) SOLD
PURSUANT TO RULE 144 UNDER THE SECURITIES ACT.

 

v. If
the Purchaser is an individual, then the Purchaser resides in the state or province identified in the address of the Purchaser set forth
on such Purchaser’s Omnibus Signature Page to this Agreement; if the Purchaser is a partnership, corporation, limited liability
company or other entity, then the office or offices of the Purchaser in which its principal place of business is identified in the address
or addresses of the Purchaser set forth on such Purchaser’s Omnibus Signature Page to this Agreement.

 

4. Conditions
to Closing. 

 

The
Company’s obligation to complete the sale and issuance of the of the Securities at the Closing shall be subject to the following
conditions to the extent not waived by the Company:

 

a. Receipt
of Payment. The Company shall have received payment, by wire transfer of immediately available funds, in the full amount of the purchase
price for the number of Ordinary Shares being purchased by such Purchaser at such Closing.

 

    7

     

    

 

b. Representations
and Warranties. The representations and warranties made by the Purchaser in Section 3 hereof shall be true and correct in all
respects when made, and shall be true and correct in all respects on the applicable Closing date with the same force and effect as if
they had been made on and as of said date.

 

c. Performance.
The Purchaser shall have performed in all material respects all obligations and covenants herein required to be performed by it on or
prior to the applicable Closing.

 

d. Receipt
of Executed Documents. The Purchaser shall have executed and delivered to the Company the Signature Page, the Purchaser Questionnaire.

 

e. Qualifications.
All authorizations, approvals or permits, of any governmental authority or regulatory body of the United States or of any state that are
required in connection with the lawful issuance and sale of the Securities pursuant to this Agreement shall be obtained and effective
as of such Closing except for Blue Sky law permits and qualifications that may be properly obtained after such Closing.

 

The
Purchaser’s obligation to purchase the Securities at the Closing shall be subject to the following conditions to the extent not
waived by the Purchaser:

 

(i)   Representations
and Warranties. The representations and warranties made by the Company in Section 2 hereof shall be true and correct in all respects
when made, and shall be true and correct in all respects on the applicable Closing date with the same force and effect as if they had
been made on and as of said date.

 

(ii)  Performance.
The Company shall have performed in all material respects all obligations and covenants herein required to be performed by it on or prior
to the applicable Closing.

 

(iii)  Receipt
of Executed Documents. The Company shall have executed and delivered to the Purchaser the Acceptance Page to this Subscription Agreement.

 

5.
Registration. By no later than the sixtieth (60th) day following the filing
by the Company with the SEC of its Annual Report on Form 20-F containing the Company audited financial statements for the year ended December
31, 2020, the Company shall file a registration statement under the Securities Act on From
F-1 (or other appropriate form) covering the resale by the Purchaser of all Registrable Securities held by the Purchaser. 

 

“Registrable
Securities” shall mean (i) the Ordinary Share purchased by the Purchaser hereunder and (ii) the shares of Ordinary Shares issuable
upon conversion of the convertible securities previously held by the Purchaser to the extent that such underlying shares are not resaleable
under Rule 144. 

 

The
Company shall use its best efforts to cause the Registration Statement to be declared effective under the Securities Act as promptly
as practicable after the filing thereof and to keep such Registration Statement continuously effective under the Securities Act until
such date as is the earlier of (x) the date when all Registrable Securities covered by such Registration Statement have been sold or (y)
the date on which the Registrable Securities may be sold pursuant to Rule 144(k) as determined by the counsel to the Company pursuant
to a written opinion letter, addressed to the Company’s transfer agent to such effect. 

 

    8

     

    

 

6. Reserved.

 

7. Non-Revocability;
Binding Effect. The subscription hereunder may not be revoked prior to the Closing thereon provided the Company countersigns this
Subscription Agreement within three business days from its receipt thereof. The Purchaser hereby acknowledges and agrees that this Agreement
shall survive the death or disability of the Purchaser and shall be binding upon and inure to the benefit of the parties and their heirs,
executors, administrators, successors, legal representatives and permitted assigns. If the Purchaser is more than one person, the obligations
of the Purchaser hereunder shall be joint and several and the agreements, representations, warranties and acknowledgments herein shall
be deemed to be made by and be binding upon each such person and such person’s heirs, executors, administrators, successors, legal
representatives and permitted assigns. For the purposes of this Agreement, “Business Day” means a day, other
than a Saturday or Sunday, on which banks in New York City are open for the general transaction of business.

 

8. Miscellaneous.

 

a. Modification. This
Agreement shall not be amended, modified or waived except by an instrument in writing signed by the Company and the Purchaser.

 

b. No
Third-Party Beneficiary.  This Agreement is intended for the benefit of the parties hereto and their respective successors
and permitted assigns and is not for the benefit of, nor may any provision hereof be enforced by, any other Person.

 

c. Notices. Any
notice, consents, waivers or other communication required or permitted to be given hereunder shall be in writing and will be deemed to
have been delivered: (i) upon receipt, when personally delivered; (ii) upon receipt when sent by certified mail, return receipt
requested, postage prepaid; (iii) upon receipt, when sent by facsimile (provided confirmation of transmission is mechanically or
electronically generated and kept on file by the sending party; (iv) when sent, if by e- mail, (provided that such sent e-mail is
kept on file (whether electronically or otherwise) by the sending party and the sending party does not receive an automatically generated
message from the recipient’s e- mail server that such e-mail could not be delivered to such recipient); or (v) one
(1) Business Day after deposit with an overnight courier service with next day delivery specified, in each case, properly addressed to
the party to receive the same. The addresses, facsimile numbers and email addresses for such communications shall be:

(a) if to the Company, at

 

P.V. Nano Cell Ltd.

8 Hamasger St., PO Box
236

Migdal Ha-Emek, 2310102,
Israel

Email: info@pvnanocell.com

 

with copies (which shall
not constitute notice) to:

 

Aboudi Legal Group PLLC

745 Fifth Avenue

New York, NY 10151

Attention: David Aboudi

 

E-mail: david@aboudilegal.com

 

(b) if to the Purchaser, at the address set
forth on the Signature Page hereof (or, in either case, to such other address as the party shall have furnished in writing in accordance
with the provisions of this Section). Any notice or other communication given by certified mail shall be deemed given at the time of certification
thereof, except for a notice changing a party’s address which shall be deemed given at the time of receipt thereof.

 

    9

     

    

 

d. Assignability. This
Agreement and the rights, interests and obligations hereunder are not transferable or assignable by the Purchaser, and the transfer or
assignment of the Shares shall be made only in accordance with all applicable laws.

 

e. Applicable
Law. This Agreement shall be governed by and construed in accordance with the laws of the State of Israel, without reference
to the principles thereof relating to the conflict of laws. The parties hereby submit to the exclusive jurisdiction of the appropriate
court in the Tel Aviv Jaffa District.

 

f. RESERVED

 

g. This
Agreement, all exhibits, schedules and attachments hereto and thereto and any confidentiality agreement between the Purchaser and the
Company, constitute the entire agreement between the Purchaser and the Company with respect to the Offering and supersede all prior oral
or written agreements and understandings, if any, relating to the subject matter hereof. The terms and provisions of this Agreement may
be waived, or consent for the departure therefrom granted, only by a written document executed by the party entitled to the benefits of
such terms or provisions.

 

h. If
the Securities are certificated and any certificate or instrument evidencing any Securities is mutilated, lost, stolen or destroyed, at
the Purchaser’s expense the Company shall issue or cause to be issued in exchange and substitution for and upon cancellation thereof,
or in lieu of and substitution therefor, a new certificate or instrument, but only upon receipt of evidence reasonably satisfactory to
the Company and the Company’s transfer agent of such loss, theft or destruction and the execution by the holder thereof of a customary
lost certificate affidavit of that fact and an agreement to indemnify and hold harmless the Company and the Company’s transfer agent
for any losses in connection therewith or, if required by the transfer agent, a bond in such form and amount as is required by the transfer
agent. The applicants for a new certificate or instrument under such circumstances shall also pay any reasonable third-party costs associated
with the issuance of such replacement Securities. If a replacement certificate or instrument evidencing any Securities is requested due
to a mutilation thereof, the Company may require delivery of such mutilated certificate or instrument as a condition precedent to any
issuance of a replacement.

 

i. Each
of the parties hereto shall pay its own fees and expenses (including the fees of any attorneys, accountants, appraisers or others engaged
by such party) in connection with this Agreement and the transactions contemplated hereby, whether or not the transactions contemplated
hereby are consummated.

 

j. This
Agreement may be executed in one or more original or facsimile or by an e-mail which contains a portable document format (.pdf)
file of an executed signature page counterparts, each of which shall be deemed an original, but all of which shall together constitute
one and the same instrument and which shall be enforceable against the parties actually executing such counterparts. The exchange of copies
of this Agreement and of signature pages by facsimile transmission or in .pdf format shall constitute effective execution and delivery
of this Agreement as to the parties and may be used in lieu of the original Agreement for all purposes. Signatures of the parties transmitted
by facsimile or by e-mail of a document in pdf format shall be deemed to be their original signatures for all purposes.

 

    10

     

    

 

k. Each
provision of this Agreement shall be considered separable and, if for any reason any provision or provisions hereof are determined to
be invalid or contrary to applicable law, such invalidity or illegality shall not impair the operation of or affect the remaining portions
of this Agreement.

 

l. The
Purchaser hereby agrees to furnish the Company such other information as the Company may reasonably request prior to the applicable Closing
with respect to its subscription hereunder.

 

m. The
representations and warranties of the Company and each Purchaser contained in or made pursuant to this Agreement shall survive the execution
and delivery of this Agreement for a period of one (1) year from the date of the Initial Closing and shall in no way be affected
by any investigation or knowledge of the subject matter thereof made by or on behalf of the Purchasers or the Company.

 

n. Public
Disclosure. Neither the Purchaser nor any officer, manager, director, member, partner, stockholder, employee, Affiliate,
Affiliated person or entity of the Purchaser shall make or issue any press releases or otherwise make any public statements or make any
disclosures to any third person or entity with respect to the transactions contemplated herein and will not make or issue any press releases
or otherwise make any public statements of any nature whatsoever with respect to the Company without the Company’s express prior
approval (which may be withheld in the Company’s sole discretion), except to the extent such disclosure is required by law, request
of the staff of the SEC or of any regulatory agency or principal trading market regulations.

 

o. Independent
Nature of Each Purchaser’s Obligations and Rights. For avoidance of doubt, the obligations of the Purchaser under this Agreement
are several and not joint with the obligations of any other Purchaser, and the Purchaser shall not be responsible in any way for the performance
of the obligations of any other Purchaser under any other Subscription Agreement. Nothing contained herein and no action taken by the
Purchaser shall be deemed to constitute the Purchaser as a partnership, an association, a joint venture, or any other kind of entity,
or create a presumption that the Purchasers are in any way acting in concert or as a group with respect to such obligations or the transactions
contemplated by this Agreement and any other Subscription Agreements. The Purchaser shall be entitled to independently protect and enforce
its rights, including without limitation the rights arising out of this Agreement, and it shall not be necessary for any other Purchaser
to be joined as an additional party in any proceeding for such purpose.

 

[Signature page follows.]

 

    11

     

    

 

 

IN WITNESS WHEREOF, the
Purchaser hereby irrevocably subscribes for and agrees to purchase from Securities in the amount set forth below as of the __ day
of _____, 2022.

 

	_____________	 	$ 0.07   =	 	$ ______

 

	Number of Ordinary Shares	$ per Ordinary Share	Purchase Price

 	PURCHASER (individual)	 	PURCHASER (entity)
	 	 	 
	 	 	 
	Signature	 	Name of Entity
	 	 	 
	 	 	By:	 
	Print Name	 	Signature
	 	 	 
	 	 	Print Name:	               
	Signature (if Joint Tenants or Tenants in Common)	 	Title:	 
	 	 	 
	Address of Principal Residence:	 	Address of Executive Offices:
	 	 	 
	 	 	 
	 	 	 
	 	 	 
	 	 	 
	Social Security Number(s):	 	IRS Tax Identification Number:
	 	 	 
	 	 	 
	 	 	 
	Telephone Number:	 	Telephone Number:
	 	 	 
	 	 	 
	Facsimile Number:	 	Facsimile Number:
	 	 	 
	 	 	 
	E-mail Address:	 	E-mail Address:
	 	 	 

 

    12

     

    

 

ACCEPTANCE

 

The Company hereby accepts the Subscription (as defined herein) on
the terms and conditions contained in this private placement subscription agreement (this “Agreement”) as of the ___ day
of _________, 2022 (the “Closing Date”).

 

P.V. NANO CELL LTD.

 

Per: ________________

       Authorized Signatory

 

    13

     

    

 

P.V. NANO CELL LTD.

ACCREDITED INVESTOR
CERTIFICATION

For Individual USA
Investors Only

(all Individual Investors
must INITIAL where appropriate):

 

	Initial_______	 	I have a net worth of at least US$1 million either individually or through aggregating my individual holdings and those in which I have a joint, community property or other similar shared ownership interest with my spouse. (For purposes of calculating your net worth under this paragraph, (a) your primary residence shall not be included as an asset; (b) indebtedness secured by your primary residence, up to the estimated fair market value of your primary residence at the time of your purchase of the securities, shall not be included as a liability (except that if the amount of such indebtedness outstanding at the time of your purchase of the securities exceeds the amount outstanding 60 days before such time, other than as a result of the acquisition of your primary residence, the amount of such excess shall be included as a liability); and (c) indebtedness that is secured by your primary residence in excess of the estimated fair market value of your primary residence at the time of your purchase of the securities shall be included as a liability.)
	 	 	 
	Initial_______   	 	I have had an annual gross income for the past two years of at least US$200,000 (or US$300,000 jointly with my spouse) and expect my income (or joint income, as appropriate) to reach the same level in the current year.
	 	 	 
	Initial_______   	 	I am a director or executive officer of P.V. Nano Cell Ltd.
	 	 	 
	 	 	For Non-Individual Investors (Entities)
	 	 	(all Non-Individual Investors must INITIAL where appropriate):
	 	 	 
	Initial_______   	 	The investor certifies that it is a partnership, corporation, limited liability company or business trust that is 100% owned by persons who meet at least one of the criteria for Individual Investors set forth above (in which case each such person must complete the Accreditor Investor Certification for Individuals above as well the remainder of this questionnaire).
	 	 	 
	Initial_______   	 	The investor certifies that it is a partnership, corporation, limited liability company or business trust that has total assets of at least US$5 million and was not formed for the purpose of investing the Company.
	 	 	 
	Initial_______   	 	The investor certifies that it is an employee benefit plan whose investment decision is made by a plan fiduciary (as defined in ERISA § 3(21)) that is a bank, savings and loan association, insurance company or registered investment advisor.
	 	 	 
	Initial_______   	 	The investor certifies that it is an employee benefit plan whose total assets exceed US$5,000,000 as of the date of this Agreement.
	 	 	 
	Initial_______   	 	The undersigned certifies that it is a self-directed employee benefit plan whose investment decisions are made solely by persons who meet at least one of the criteria for Individual Investors.
	 	 	 
	Initial_______   	 	The investor certifies that it is a U.S. bank as defined in Section 3(a)(2) of the Securities Act, or any U.S. savings and loan association or other similar U.S. institution as defined in Section 3(a)(5) of the Securities Act acting in its individual or fiduciary capacity.
	 	 	 
	Initial_______   	 	The undersigned certifies that it is a broker-dealer registered pursuant to Section 15 of the Securities Exchange Act of 1934.
	 	 	 
	Initial_______   	 	The investor certifies that it is an organization described in Section 501(c)(3) of the Internal Revenue Code with total assets exceeding US$5,000,000 and not formed for the specific purpose of investing in the Company.
	 	 	 
	Initial_______   	 	The investor certifies that it is a trust with total assets of at least US$5,000,000, not formed for the specific purpose of investing in the Company, and whose purchase is directed by a person with such knowledge and experience in financial and business matters that such person is capable of evaluating the merits and risks of the prospective investment.
	 	 	 
	Initial_______   	 	The investor certifies that it is a plan established and maintained by a state or its political subdivisions, or any agency or instrumentality thereof, for the benefit of its employees, and which has total assets in excess of US$5,000,000.
	 	 	 
	Initial_______   	 	The investor certifies that it is an insurance company as defined in Section 2(13) of the Securities Act of 1933, or a registered investment company.

 

    14

     

    

 

 

Investor Profile

(Must be completed
by Investor)

Section A - Personal
Investor Information

 

Investor Name(s):                                         
                                         
      

 

Individual executing Profile or Trustee:          
                                         
                                         
                                         
                    

 

Year of Birth:                
                                         
            Investment Experience (Years):                               
          

 

Home Street Address:               
                                         
                                         
                                         
                                         
  

 

Home City, State & Zip Code:           
                                         
                                         
                                         
                                 

 

Home Phone:                  
                                Home Fax:      
                                         mail:                           
                   

 

Employer:                   
                                         
                                         
                                         
                                         
                

 

Employer Street Address:                                       
                                         
                                         
                                         
            

 

Employer City, State &
Zip Code:                                        
                                         
                                         
                                       

 

Bus. Phone:                  
                                      Bus. 
Fax:                                        
                  Bus. Email:                    
                            

 

Type of Business:                
                                         
                                         
                                         
                                         
       

 

Outside Broker/Dealer:                
                                         
                                         
                                         
                                       

 

Section B –
Certificate Delivery Instructions

 

         Please
deliver certificate to the Employer Address listed in Section A.

         Please
deliver certificate to the Home Address listed in Section A.

         Please deliver certificate to the following address:  
                                         
                                       
                                         
  

      

Section C –
Form of Payment –Wire Transfer

 

         Wire
funds from my outside account according to Section 2(b) of the Subscription Agreement.

         The
funds for this investment are rolled over, tax deferred from                      within
the allowed 60-day window.

Please check if you are a FINRA member or
Affiliate of a FINRA member firm:                     

 

	 	 	 
	
	 	

	Investor Signature	 	Date

 

    15

     

    

 

ANTI MONEY LAUNDERING
REQUIREMENTS

 

The USA PATRIOT Act

 

The USA PATRIOT Act is designed to detect,
deter, and punish terrorists in the United States and abroad. The Act imposes new anti-money laundering requirements on brokerage firms
and financial institutions. Since April 24, 2002 all brokerage firms have been required to have new, comprehensive anti-money laundering
programs.

 

To help you understand these efforts, we want
to provide you with some information about money laundering and our steps to implement the USA PATRIOT Act.

 

What is money laundering?

 

Money laundering is the process of disguising
illegally obtained money so that the funds appear to come from legitimate sources or activities. Money laundering occurs in connection
with a wide variety of crimes, including illegal arms sales, drug trafficking, robbery, fraud, racketeering, and terrorism.

 

How big is the problem and why is it important?

 

The use of the U.S. financial system by criminals
to facilitate terrorism or other crimes could well taint our financial markets. According to the U.S. State Department, one recent estimate
puts the amount of worldwide money laundering activity at $1 trillion a year.

 

What are we required to do to eliminate
money laundering?

 

Under rules required by the USA PATRIOT Act,
our anti-money laundering program must designate a special compliance officer, set up employee training, conduct independent audits, and
establish policies and procedures to detect and report suspicious transaction and ensure compliance with such laws. As part of our required
program, we may ask you to provide various identification documents or other information. Until you provide the information or documents
we need, we may not be able to effect any transactions for you.

 

    16

     

    

 

ANTI-MONEY LAUNDERING
INFORMATION FORM

 

The following is required
in accordance with the AML provision of the USA PATRIOT ACT.

 

(Please fill out and
return with requested documentation.)

 

INVESTOR NAME:         
                                         
              

 

LEGAL ADDRESS:                      
                                         
                                         
                                         
                                

                          
                                         
                                         
                                         
                                         
                      

 

INVESTMENT OBJECTIVE:                  
                                         
                                         
                                         
                 

 

FOR INVESTORS WHO ARE ENTITIES: TYPE OF BUSINESS:         
                                         
                                         
       

 

IDENTIFICATION & DOCUMENTATION
AND SOURCE OF FUNDS:

 

	1.	Please submit a copy of non-expired identification for the authorized signatory(ies) on the investment documents, showing name, date of birth, address and signature. The address shown on the identification document MUST match the Investor’s address shown on the Investor Signature Page.

 

	Current Driver’s License	or	Valid Passport	or	Identity Card

(Circle one or more)

 

	2.	If the Investor is a corporation, limited liability company, trust or other type of entity, please submit the following requisite documents: (i) Certificate of Incorporation, By-Laws, Certificate of Formation, Operating Agreement, Trust or other similar documents for the type of entity; and (ii) Corporate Resolution or power of attorney or other similar document granting authority to signatory(ies) and designating that they are permitted to make the proposed investment.

 

	3.	Please advise where the funds were derived from to make the proposed investment:

 

	        Investments	 	Savings	 	Proceeds of Sale	 	Other                     

(Circle one or more)

 

	Signature:	 	 

 

	Print Name:	 	 

 

	Title (if applicable):	 	 

 

	Date:	 	 

 

    17

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