Document:

Exhibit 10.2 

   

  REGISTRATION RIGHTS AGREEMENT 

    by and among 

    NANO-X IMAGING LTD 

    and 

    THE SHAREHOLDERS NAMED HEREIN 

    Dated as of _______ [   ], 2020

   

  
     

    
      
 

  

   

  REGISTRATION RIGHTS AGREEMENT, dated as of _______ [   ], 2020, by and among NANO-X IMAGING LTD, an Israeli company (the “Company”), and the investors listed on
    the signature pages of this Agreement (each a “Shareholder” and, collectively, the “Shareholders”).

   

  WHEREAS, the Shareholders have purchased ordinary shares of Nanox Imaging PLC., a company incorporated and registered in Gibraltar (“Nanox Gibraltar”);

   

  WHEREAS, in connection with the purchase by the Company of the assets of Nanox Gibraltar pursuant to the Asset Purchase Agreement, dated as of September 3, 2019 and as
    amended on December 3, 2019, by and between the Company and Nanox Gibraltar, the Shareholders became holders of the Company’s ordinary shares, par value NIS0.01 per share (the “Ordinary Shares”);

   

  WHEREAS, the parties hereto desire that the Company provides the Shareholders with registration rights with respect to the Registrable Securities (as defined below),
    as set forth in this Agreement.

   

  NOW THEREFORE, in consideration of the foregoing and the mutual covenants and agreements herein contained and other good and valid consideration, the receipt and
    sufficiency of which are hereby acknowledged, the parties to this Agreement hereby agree as follows:

   

  		1.	Certain Definitions.

   

  As used in this Agreement, the following terms shall have the following meanings:

   

  “Affiliate” of any Person means any other Person which directly, or indirectly through one or more intermediaries, controls, or is controlled by, or is under common control with, such Person. The term
    “control” (including the terms “controlling,” “controlled by” and “under common control with”) as used with respect to any Person means the possession, direct or indirect, of the power to direct or cause the direction of the management and policies of
    such Person, whether through the ownership of voting securities, by contract or otherwise.

   

  “Agreement” means this Registration Rights Agreement, including all amendments, modifications and supplements and any exhibits or schedules to any of the foregoing, and shall refer to this Registration
    Rights Agreement as the same may be in effect at the time such reference becomes operative.

   

  “Company” has the meaning set forth in the introductory paragraph.

   

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

   

  “Governmental Entity” means any national, federal, state, municipal, local, territorial, foreign or other government or any department, commission, board, bureau, agency, regulatory authority or instrumentality
    thereof, or any court, judicial, administrative or arbitral body or public or private tribunal.

   

  

  
     

    
      
 

  

   

  “Holder” means each Shareholder, so long as such Person holds any Registrable Securities, and any Permitted Transferee, so long as such Person holds any Registrable Securities. For purposes of this
    Agreement, the Company may deem and treat the registered holder of Registrable Securities as the Holder and absolute owner thereof, and the Company shall not be affected by any notice to the contrary.

   

  “Initial Public
        Offering” means the first underwritten public offering of the Ordinary Shares to the general public through a registration statement filed with the SEC.

   

  “Permitted Transferee” shall mean, with respect to a Shareholder, (i) any other Shareholder, and (ii) such Shareholder’s Affiliates.

   

  “Person” means any individual, sole proprietorship, partnership, limited liability company, joint venture, trust, incorporated organization, association, corporation, institution, public benefit
    corporation, Governmental Entity or any other entity.

   

  “Piggyback
        Registration” means any registration of the Company’s Ordinary Shares under the Securities Act (other than a registration statement on Form S-8 or on Form S-4 or any similar
    successor forms thereto) that is effected at any time following consummation of an Initial Public Offering, whether such registration is effected for the Company’s own account or for the account of one or more shareholders of the Company, and the
    registration form to be used may be used for any registration of Registrable Securities.

   

  “Prospectus” means the prospectus or prospectuses forming a part of, or deemed to form a part of, or included in, or deemed included in, any Registration Statement, as amended or supplemented by any
    prospectus supplement with respect to the terms of the offering of any portion of the Registrable Securities covered by such Registration Statement and by all other amendments and supplements to the prospectus, including post-effective amendments and
    all material incorporated by reference in such prospectus or prospectuses.

   

  “Registrable
        Securities” shall mean all Ordinary Shares currently held or hereafter acquired by a Shareholder or any securities issued or issuable with respect to such Ordinary Shares
    because of share splits, share dividends, reclassifications, recapitalizations, mergers, consolidations or similar events. As to any particular Registrable Security, once issued such securities shall cease to be Registrable Securities when (i) they are
    sold pursuant to an effective Registration Statement under the Securities Act, (ii) they are sold pursuant to Rule 144, (iii) they shall have ceased to be outstanding, (iv) they have been sold in a private transaction in which the transferor’s rights
    under this Agreement are not assigned to the transferee of the securities, or (v) they are eligible to be sold by such Shareholder without regard to the public information requirements under Rule 144.

   

  “Registration Expenses” has the meaning set forth in Section 4 hereof.

   

  “Registration
        Statement” means any registration statement of the Company which covers any of the Registrable Securities pursuant to the provisions of this Agreement, including the
    Prospectus, amendments and supplements to such Registration Statement, including post-effective amendments, all exhibits and all materials incorporated by reference in such Registration Statement.

   

  

  
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  “Rule 144” shall mean Rule 144 under the Securities Act, as such rule may be amended from time to time, or any similar rule or regulation hereafter adopted by
    the SEC.

   

  “SEC” means the Securities and Exchange Commission.

   

  “Securities Act” means the Securities Act of 1933, as amended.

   

  “Suspension Notice” has the meaning set forth in Section 3(d) hereof.

   

  “underwritten
        registration” or “underwritten

        offering” means a registration in which securities of the Company are sold to one or more underwriters (as defined in Section 2(a)(11) of the Securities Act) for resale to
    the public.

   

  		2.	Piggyback Registrations.

   

  (a)          Right to Piggyback. Whenever the Company proposes to effect a
    Piggyback Registration, the Company shall give prompt written notice to all Holders of its intention to effect such a registration and, subject to Sections 2(b) and 2(c), shall include in such registration on the same terms as the Company and other
    Persons selling securities in connection with such registration all Registrable Securities with respect to which the Company has received written requests for inclusion therein within 10 days after the receipt of the Company’s notice. To the extent the
    Company has not received any such written request for inclusion within such 10-day period, the Holders shall have no further rights to include any Registrable Securities in such Piggyback Registration. The Company’s notice shall specify, at a minimum,
    the number of Ordinary Shares proposed to be registered, the proposed date of filing of such registration statement with the SEC, the proposed means of distribution, the proposed managing underwriter or underwriters (if any and if known) and a good
    faith estimate by the Company of the proposed minimum offering price of the Ordinary Shares offered by the Company. The Company may postpone or withdraw the filing or the effectiveness of a Piggyback Registration initiated by the Company at any time in
    its sole discretion; provided that such postponement or withdrawal does not relieve the Company of its obligations to pay registration expenses pursuant to Section 4. Each Holder shall be permitted to withdraw all or part of such Holder’s
    Registrable Securities from a Piggyback Registration at any time prior to the effectiveness of such registration.

   

  (b)          Priority on Primary Registrations. If a Piggyback Registration is
    an underwritten primary registration on behalf of the Company, and the managing underwriters advise the Company in writing that in their opinion the number of securities requested to be included in such registration exceeds the number which can be sold
    in any potential offering and/or that the number of Registrable Securities proposed to be included in any such registration would adversely affect the price per share of the Company’s equity securities to be sold in any potential offering, the Company
    shall include in such registration (i) first, the securities the Company proposes to sell, (ii) second, the Registrable Securities requested to be included in such registration by Holders that are not Affiliates of the Company, pro rata among such
    Holders on the basis of the number of securities requested to be registered by such Holders, and (iii) third, the Registrable Securities requested to be included in such registration by Holders that are Affiliates of the Company, pro rata among such
    Holders on the basis of the number of securities requested to be registered by such Holders.

   

  

  
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  (c)          Priority on Secondary Registrations. If a Piggyback Registration
    is an underwritten secondary registration on behalf of a holder of the Company’s securities, and the managing underwriters advise the Company in writing that in their opinion the number of securities requested to be included in such registration
    exceeds the number which can be sold in any potential offering and/or that the number of Registrable Securities proposed to be included in any such registration would adversely affect the price per share of the Company’s equity securities to be sold in
    any potential offering, the Company shall include in such registration (i) first, the securities requested to be included in such registration by the holders requesting such registration, (ii) second, the Registrable Securities requested to be included
    in such registration by Holders that are not Affiliates of the Company, pro rata among such Holders on the basis of the number of securities requested to be registered by such Holders, and (iii) third, the Registrable Securities requested to be
    included in such registration by Holders that are Affiliates of the Company, pro rata among such Holders on the basis of the number of securities requested to be registered by such Holders.

   

  (d)          Selection of Underwriters. If any Piggyback Registration is an
    underwritten primary offering on behalf of the Company, the Company shall have the right to select the managing underwriter or underwriters to administer any such offering.

   

  		3.	Registration Procedures. (a) Subject to the penultimate sentence of Section 2(a) (in the case of a Piggyback Registration), whenever any Registrable Security is to be registered pursuant to this Agreement, the Company shall use
          commercially reasonable efforts to effect the registration and the sale of such Registrable Securities in accordance with the intended methods of disposition thereof, and pursuant thereto the Company shall as expeditiously as possible:

   

  (i)          prepare and file with the SEC a Registration Statement with
    respect to such Registrable Securities and use commercially reasonable efforts to cause such Registration Statement to become effective as soon as practicable thereafter; and before filing a Registration Statement or Prospectus or any amendments or
    supplements thereto, furnish to the Holders of Registrable Securities covered by such Registration Statement copies of all such documents proposed to be filed and, if requested by such Holders, the documents incorporated by reference in the Prospectus
    and the exhibits incorporated by reference in such documents; and the Company will give one counsel selected by Holders representing a majority of Registrable Securities covered by such Registration Statement the opportunity to participate in the
    preparation of such Registration Statement, each Prospectus included therein or filed with the SEC, and each amendment thereof or supplement thereto; and the Holders shall have the opportunity to object to any information pertaining to such Holders
    that is contained therein and the Company will make the corrections reasonably requested by such Holders with respect to such information prior to filing any Registration Statement or amendment thereto or any Prospectus or any supplement thereto;

   

  (ii)         prepare and file with the SEC such amendments and supplements
    to such Registration Statement and the Prospectus used in connection therewith as may be necessary to keep such Registration Statement effective for such a period as is necessary to complete the distribution of the securities covered by such
    Registration Statement and comply with the provisions of the Securities Act with respect to the disposition of all securities covered by such Registration Statement during such period in accordance with the intended methods of disposition set forth in
    such Registration Statement;

   

  

  
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  (iii)         furnish to each Holder of Registrable Securities covered by
    such Registration Statement such number of copies of such Registration Statement, and each amendment and supplement thereto, the Prospectus included in such Registration Statement (including each preliminary Prospectus) or filed under Rule 424 under
    the Securities Act and such other documents as such Holder may reasonably request in order to facilitate the disposition of such Registrable Securities;

   

  (iv)         use commercially reasonable efforts to register or qualify
    such Registrable Securities under such other securities or blue sky laws of such jurisdictions as any such Holder and any underwriter(s) reasonably requests and do any and all other acts and things which may be reasonably necessary or advisable to
    enable such Holder and any underwriter(s) to consummate the disposition in such jurisdictions of the Registrable Securities owned by such Holder (provided, that the Company will not be required to (A) qualify generally to do business in any
    jurisdiction where it would not otherwise be required to qualify but for this subparagraph (iv), (B) subject itself to taxation in any such jurisdiction, or (C) consent to general service of process in any such jurisdiction);

   

  (v)          notify each Holder of Registrable Securities covered by such
    Registration Statement at any time when a Prospectus relating thereto is required to be delivered under the Securities Act, of the occurrence of any event as a result of which the Prospectus included in such Registration Statement contains an untrue
    statement of a material fact or omits any fact necessary to make the statements therein not misleading, and, at the request of any such Holder, the Company shall prepare a supplement or amendment to such Prospectus so that, as thereafter delivered to
    the purchasers of such Registrable Securities, such Prospectus shall not contain an untrue statement of a material fact or omit to state any material fact necessary to make the statements therein not misleading;

   

  (vi)         in the case of an underwritten offering, enter into customary
    agreements (including underwriting agreements in customary form) and take such other actions as deemed advisable by the underwriter(s) in order to expedite or facilitate the disposition of such Registrable Securities (including, without limitation,
    effecting a share split or a combination of shares and making members of senior management of the Company reasonably available to participate in, and cause them to cooperate with the underwriters in connection with, “road-show” and other customary
    marketing activities (including one-on-one meetings with prospective purchasers of the Registrable Securities)) and use commercially reasonable efforts to cause to be delivered to the underwriters opinions of counsel to the Company in customary form,
    covering such matters as are customarily covered by opinions for an underwritten public offering as the underwriters may request and addressed to the underwriters;

   

  (vii)        make available, for inspection by any Holder of Registrable
    Securities covered by such Registration Statement, any underwriter participating in any disposition pursuant to such Registration Statement, and any attorney, accountant or other agent retained by any such Holder or underwriter, all financial and other
    records, pertinent corporate documents and properties of the Company, and cause the Company’s officers, directors, employees and independent accountants to supply all information reasonably requested by any such Holder, underwriter, attorney,
    accountant or agent in connection with such Registration Statement;

   

  

  
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  (viii)       use commercially reasonable efforts to cause all such
    Registrable Securities to be listed on each securities exchange or quotation system on which securities of the same class issued by the Company are then listed, or if no such similar securities are then listed, on a national securities exchange or
    quotation system selected by the Company;

   

  (ix)          provide a transfer agent and registrar for all such
    Registrable Securities not later than the effective date of such Registration Statement;

   

  (x)           if requested, cause to be delivered, immediately prior to the
    effectiveness of the Registration Statement (and, in the case of an underwritten offering, at the time of delivery of any Registrable Securities sold pursuant thereto), letters from the Company’s independent certified public accountants addressed to
    each underwriter, if any, stating that such accountants are independent public accountants within the meaning of the Securities Act and the applicable rules and regulations adopted by the SEC thereunder, and otherwise in customary form and covering
    such financial and accounting matters as are customarily covered by letters of the independent certified public accountants delivered in connection with primary or secondary underwritten public offerings, as the case may be;

   

  (xi)          make generally available to its shareholders a consolidated
    earnings statement (which need not be audited) for at least the 12 months beginning after the effective date of a Registration Statement as soon as reasonably practicable after the end of such period, which earnings statement shall satisfy the
    requirements of an earnings statement under Section 11(a) of the Securities Act;

   

  (xii)         promptly notify each Holder of Registrable Securities covered
    by such Registration Statement and the underwriter(s), if any:

   

     (1)          when the Registration Statement, any pre-effective amendment,
    the Prospectus or any Prospectus supplement or post-effective amendment to the Registration Statement has been filed and, with respect to the Registration Statement or any post-effective amendment, when the same has become effective;

   

    (2)          of any written request by the SEC for amendments or
    supplements to the Registration Statement or Prospectus or of any inquiry by the SEC relating to the Registration Statement, with a copy of the same, and an oral or written summary of any such oral requests;

   

    (3)          of the notification to the Company by the SEC of its
    initiation or threat of any proceeding with respect to the issuance by the SEC of any stop order suspending the effectiveness of the Registration Statement; and

   

  

  
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    (4)          of the receipt by the Company of any notification or threat
    with respect to the suspension of the qualification of any Registrable Securities for sale under the applicable securities or blue sky laws of any jurisdiction;

   

  (xiii)        use commercially reasonable efforts to obtain the withdrawal
    of any order suspending the effectiveness of the Registration Statement at the earliest possible moment; and

   

  (xiv)        provide a CUSIP number for the Ordinary Shares and take such
    other customary actions as shall be reasonably requested by Holders holding a majority of the Registrable Securities to be sold or the underwriters in order to expedite or facilitate the disposition of such Registrable Securities.

   

  (b)           The Company will promptly respond to any and all comments received from
    the SEC, with a view towards causing each Registration Statement or any amendment thereto to be declared effective by the SEC as soon as practicable and shall file an acceleration request as soon as practicable following the resolution or clearance of
    all SEC comments or, if applicable, following notification by the SEC that any such Registration Statement or any amendment thereto will not be subject to review.

   

  (c)           The Company may require each Holder of Registrable Securities covered
    by such Registration Statement being effected to furnish to the Company any other information regarding such Holder and the distribution of such securities as the Company may from time to time reasonably request in writing in order to comply with
    applicable securities laws.

   

  (d)           Each Holder of Registrable Securities agrees by having its securities
    treated as Registrable Securities hereunder that, upon written notice from the Company, after consultation with outside counsel, of the happening of any event as a result of which the Prospectus included in such Registration Statement contains an
    untrue statement of a material fact or omits any material fact necessary to make the statements therein not misleading (a “Suspension Notice”), such Holder will forthwith discontinue disposition of Registrable Securities until such Holder is
    advised in writing by the Company that the use of the Prospectus may be resumed and is furnished with a supplemented or amended Prospectus as required by Section 3(a)(iii) hereof, and, if so directed by the Company, such Holder will deliver to the
    Company (at the Company’s expense) all copies, other than permanent file copies then in such Holder’s possession, of the Prospectus covering such Registrable Securities current at the time of receipt of such notice; provided, however, that the
    Company shall promptly use commercially reasonable efforts to file a post-effective amendment or take such other action to as to obviate the need for a Suspension Notice as soon as reasonably practicable in the good faith judgment of the Company and
    promptly after filing such amendment (and in any event within two business days of such filing) deliver sufficient copies of such supplemented or amended Prospectuses pursuant to Section 3(a)(iii) to such Holders to resume such disposition; and provided

      further that such postponement of sales of Registrable Securities by the Holders shall not exceed 90 days in the aggregate in any one year. Each Holder shall be entitled to reimbursement from the Company for any out-of-pocket losses actually
    incurred in the event, and only to the extent, that such Holder suffers such losses as a result of such Holder’s inability to make delivery of sold securities due to the Company’s delivery of a Suspension Notice. Each Holder of Registrable Securities
    further agrees by having its securities treated as Registrable Securities hereunder that it shall maintain in confidence and not disclose the receipt of any Suspension Notice.

   

  

  
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  		4.	Registration Expenses

   

  (a)           All expenses incident to the Company’s performance of or compliance
    with this Agreement, including, without limitation, all registration and filing fees, fees and expenses of compliance with securities or blue sky laws, listing application fees, printing expenses, transfer agent’s and registrar’s fees, cost of
    distributing Prospectuses in preliminary and final form as well as any supplements thereto, and fees and disbursements of counsel for the Company and all independent certified public accountants and other Persons retained by the Company (all such
    expenses being herein called “Registration Expenses”) (but not including any underwriting discounts or commissions attributable to the sale of Registrable Securities or fees and expenses of more than one counsel representing the Holders of
    Registrable Securities (as set forth in Section 4(b)), shall be borne by the Company. In addition, the Company shall pay its internal expenses (including, without limitation, all salaries and expenses of its officers and employees performing legal or
    accounting duties), the expense of any annual audit or quarterly review, the expense of any liability insurance and the expenses and fees for listing the securities to be registered on each securities exchange on which they are to be listed.

   

  (b)           In connection with each registration initiated hereunder, the Company
    shall reimburse the Holders covered by such registration or sale for the reasonable fees and disbursements of one law firm chosen by Holders representing a majority of the number of Registrable Securities included in such registration or sale.

   

  (c)           The obligation of the Company to bear the expenses described in Section
    4(a) and to reimburse the Holders for the expenses described in Section 4(b) shall apply irrespective of whether any sales of Registrable Securities ultimately take place.

   

  		5.	Indemnification

   

  (a)           The Company shall indemnify, to the fullest extent permitted by law,
    each Holder, its officers, directors, employees and Affiliates and each Person who controls such Holder (within the meaning of the Securities Act) against all losses, claims, damages, liabilities and expenses (including but not limited to reasonable
    legal fees and expenses) arising out of or based upon any untrue statement or alleged untrue statement of material fact contained in any Registration Statement, Prospectus, preliminary Prospectus or any “issuer free writing prospectus” (as defined in
    Rule 433 under the Securities Act) or any amendment thereof or supplement thereto or any omission or alleged omission of a material fact required to be stated therein or necessary to make the statements therein (in the case of any Prospectus or
    supplement to a Prospectus, in light of the circumstances under which they were made) not misleading or any violation or alleged violation by the Company of the Securities Act, the Exchange Act or applicable “blue sky” laws in connection with the
    performance of its obligations under this Agreement, except insofar and to the extent (i) as the same are made in reliance and in conformity with information relating to such Holder furnished in writing to the Company by such Holder expressly for use
    therein, including the proposed method of distribution, (ii) such Holder used a defective or outdated Prospectus after having received a Suspension Notice or (iii) such untrue statement or alleged untrue statement or omission or alleged omission is
    primarily the result of a breach of this Agreement or a violation of law by such Holder.

   

  

  
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  (b)           In connection with any Registration Statement or Prospectus in which a
    Holder of Registrable Securities is participating, each such Holder shall furnish to the Company in writing such information and affidavits as the Company reasonably requests for use in connection with any such Registration Statement or Prospectus and
    shall indemnify, to the fullest extent permitted by law, the Company, its officers, employees, directors, Affiliates, and each Person who controls the Company (within the meaning of the Securities Act) against all losses, claims, damages, liabilities
    and expenses (including but not limited to reasonable legal fees and expenses) arising out of or based upon (i) any untrue statement or alleged untrue statement of material fact contained in any Registration Statement, Prospectus or preliminary
    Prospectus or any “issuer free writing prospectus” or any amendment thereof or supplement thereto or any omission or alleged omission of a material fact required to be stated therein or necessary to make the statements therein (in the case of any
    Prospectus or supplement to a Prospectus, in light of the circumstances under which they were made) not misleading, but only to the extent that the same are made in reliance and in conformity with information relating to such Holder furnished in
    writing to the Company by such Holder expressly for use therein, (ii) such Holder using a defective or outdated Prospectus after having received a Suspension Notice or (iii) any untrue statement or alleged untrue statement or omission or alleged
    omission that is primarily the result of a breach of this Agreement or a violation of law by such Holder; provided, however, that the obligation to indemnify shall be several, not joint and several, among such Holders and the liability of each
    such Holder shall be in proportion to and limited to the net amount received (after all underwriting discounts and commissions) by such Holder from the sale of Registrable Securities pursuant to such Registration Statement or Prospectus.

   

  (c)           Any Person entitled to indemnification hereunder shall (i) give prompt
    written notice to the indemnifying party of any claim with respect to which it seeks indemnification and (ii) unless the counsel to the indemnified party advises such indemnifying party in writing that such claim involves a conflict of interest (other
    than one of a monetary nature) that would reasonably be expected to make it inappropriate for the same counsel to represent both the indemnified party and the indemnifying party, permit such indemnifying party to assume the defense of such claim with
    counsel reasonably satisfactory to the indemnified party. If such defense is assumed, the indemnifying party shall not be subject to any liability for any settlement made by the indemnified party without its consent (but such consent will not be
    unreasonably withheld). The indemnifying party shall not enter into any settlement of the claims so assumed without the consent of the indemnified party (but such consent will not be unreasonably withheld); provided that the consent of the
    indemnified party will not be required if the settlement involves only the payment of money damages all of which are indemnifiable losses hereunder and does not involve the imposition of any equitable remedy or admission of wrongdoing. An indemnifying
    party who is not entitled to, or elects not to, assume the defense of a claim shall not be obligated to pay the fees and expenses of more than one counsel for all parties indemnified by such indemnifying party with respect to such assumed claim, unless
    the counsel to the indemnified party advises such indemnifying party in writing that there may be one or more legal or equitable defenses available to such indemnified party which are in addition to or may conflict with those available to another
    indemnified party with respect to such claim. Failure to give prompt written notice shall not release the indemnifying party from its obligations hereunder unless and to the extent that the indemnifying party shall have been actually and materially
    prejudiced by the failure of such indemnified party to so notify such indemnifying party.

   

  

  
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  (d)           The indemnification provided for under this Agreement shall remain in
    full force and effect regardless of any investigation made by or on behalf of the indemnified party or any officer, director or controlling Person of such indemnified party and shall survive the transfer of securities.

   

  (e)           If the indemnification provided for in or pursuant to this Section 5 is
    due in accordance with the terms hereof, but is held by a court to be unavailable or unenforceable in respect of any losses, claims, damages, liabilities or expenses referred to herein, then each applicable indemnifying party, in lieu of indemnifying
    such indemnified party, shall contribute to the amount paid or payable by such indemnified Person as a result of such losses, claims, damages, liabilities or expenses in such proportion as is appropriate to reflect the relative fault of the
    indemnifying party on the one hand and of the indemnified party on the other in connection with the statements or omissions which result in such losses, claims, damages, liabilities or expenses. The relative fault of the indemnifying party on the one
    hand and of the indemnified Person on the other shall be determined by reference to, among other things, whether the untrue statement or alleged untrue statement of a material fact or the omission or alleged omission to state a material fact relates to
    information supplied by the indemnifying party or by the indemnified party, and by such party’s relative intent, knowledge, access to information and opportunity to correct or prevent such statement or omission. In no event shall the liability of any
    selling Holder be greater in amount than the amount of net proceeds (after underwriting discounts and commissions) received by such Holder upon such sale or the amount for which such indemnifying party would have been obligated to pay by way of
    indemnification if the indemnification provided for under Section 5(a) or 5(b) hereof had been available under the circumstances.

   

  		6.	Participation in Underwritten Offering

   

  No Person may participate in any underwritten offering hereunder unless such Person (a) agrees to sell such Person’s securities on the basis provided in any
    underwriting arrangements approved by the Person or Persons entitled hereunder to approve such arrangements and (b) completes and executes all customary questionnaires, powers of attorney, indemnities, underwriting agreements and other documents
    required under the terms of such underwriting arrangements.

   

  		7.	Rule 144

   

  The Company covenants that if it becomes subject to the reporting requirements of the Exchange Act, (A) it will use commercially reasonable efforts to file in a timely
    manner the reports required to be filed by it under the Securities Act and the Exchange Act and the rules and regulations adopted by the SEC thereunder, and (B) it will take such further action as any Holder may reasonably request to make available
    adequate current public information with respect to the Company meeting the current public information requirements of Rule 144(c), to the extent required to enable such Holder to sell Registrable Securities without registration under the Securities
    Act within the limitation of the exemptions provided by Rule 144 or any similar rule or regulation hereafter adopted by the SEC.

   

  

  
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  		8.	Miscellaneous

   

  (a)             Notices. All notices, requests, consents and other
    communications required or permitted hereunder shall be in writing and shall be hand delivered or mailed postage prepaid by registered or certified mail or by facsimile transmission,

   

  (i)            If to the Company:

   

  NANO-X IMAGING LTD

    Communications Center

    Neve Ilan, Israel 9085000

    Attn: Company’s VP of Corporate Development, Tal Shank

    Telephone: + 972-52-4688648

    Email: tal.s@nanox.vision

   

  (ii)           if to any Shareholder, to the address(es) set forth on the
    counterpart signature pages of this Agreement signed by such Shareholders;

   

  (iii)          if to a transferee Holder, to the address of such Holder set
    forth in the transfer documentation provided to the Company; or, in each case, at such other address as such party each may specify by written notice to the others, and each such notice, request, consent and other communication shall for all purposes
    of the Agreement be treated as being effective or having been given when delivered personally, upon receipt of facsimile confirmation if transmitted by facsimile, or, if sent by mail, at the earlier of its receipt or 72 hours after the same has been
    deposited in a regularly maintained receptacle for the deposit of United States mail, addressed and postage prepaid as aforesaid.

   

  (b)           No Waivers. No failure or delay by any party in exercising any
    right, power or privilege hereunder shall operate as a waiver thereof nor shall any single or partial exercise thereof preclude any other or further exercise thereof or the exercise of any other right, power or privilege. The rights and remedies herein
    provided shall be cumulative and not exclusive of any rights or remedies provided by law.

   

  (c)           Successors and Assigns. The provisions of this Agreement shall be
    binding upon and inure to the benefit of the parties hereto and their respective successors and permitted assigns, it being understood that subsequent Holders of the Registrable Securities and the indemnified parties under Section 5 are intended third
    party beneficiaries hereof.

   

  (d)           Governing Law. The internal laws, and not the laws of conflicts
    (other than Section 5-1401 of the General Obligations Law of the State of New York), of New York shall govern the enforceability and validity of this Agreement, the construction of its terms and the interpretation of the rights and duties of the
    parties.

   

  

  
    11 

    
      
 

  

   

  (e)           Jurisdiction. Any suit, action or proceeding seeking to enforce
    any provision of, or based on any matter arising out of or in connection with, this Agreement or the transactions contemplated hereby may be brought in any federal or state court located in the County and State of New York, and each of the parties
    hereby consents to the jurisdiction of such courts (and of the appropriate appellate courts therefrom) in any such suit, action or proceeding and irrevocably waives, to the fullest extent permitted by law, any objection which it may now or hereafter
    have to the laying of the venue of any such suit, action or proceeding in any such court or that any such suit, action or proceeding which is brought in any such court has been brought in an inconvenient forum. Process in any such suit, action or
    proceeding may be served on any party anywhere in the world, whether within or without the jurisdiction of any such court. Without limiting the foregoing, each party agrees that service of process on such party as provided in Section 8(a) shall be
    deemed effective service of process on such party.

   

  (f)            Waiver of Jury Trial. EACH OF THE PARTIES HERETO HEREBY
    IRREVOCABLY WAIVES ANY AND ALL RIGHT TO TRIAL BY JURY IN ANY LEGAL PROCEEDING ARISING OUT OF OR RELATED TO THIS AGREEMENT OR THE TRANSACTIONS CONTEMPLATED HEREBY.

   

  (g)           Counterparts; Effectiveness. This Agreement may be executed in
    any number of counterparts (including by facsimile) and by different parties hereto in separate counterparts, with the same effect as if all parties had signed the same document. All such counterparts shall be deemed an original, shall be construed
    together and shall constitute one and the same instrument. This Agreement shall become effective when each party hereto shall have received counterparts hereof signed by all of the other parties hereto.

   

  (h)           Entire Agreement. This Agreement contains the entire agreement
    among the parties hereto with respect to the subject matter hereof and supersedes and replaces all other prior agreements, written or oral, among the parties hereto with respect to the subject matter hereof.

   

  (i)            Captions. The headings and other captions in this Agreement are
    for convenience and reference only and shall not be used in interpreting, construing or enforcing any provision of this Agreement.

   

  (j)            Severability. If any term, provision, covenant or restriction of
    this Agreement is held by a court of competent jurisdiction or other authority to be invalid, void or unenforceable, the remainder of the terms, provisions, covenants and restrictions of this Agreement shall remain in full force and effect and shall in
    no way be affected, impaired or invalidated so long as the economic or legal substance of the transactions contemplated hereby is not affected in any manner materially adverse to any party. Upon such a determination, the parties shall negotiate in good
    faith to modify this Agreement so as to effect the original intent of the parties as closely as possible in an acceptable manner in order that the transactions contemplated hereby be consummated as originally contemplated to the fullest extent
    possible.

   

  

  
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  (k)           Amendments. The provisions of this Agreement, including the
    provisions of this sentence, may not be amended, modified or supplemented, and waivers or consents to departures from the provisions hereof may not be given without the written consent of the Holders of a majority of the Registrable Securities and the
    Company; provided, however, that in no event shall the obligations of any Holder of Registrable Securities be materially increased or the rights of any such Holder be adversely affected (without similarly adversely affecting the rights of all
    such holders), except upon the written consent of such Holder. Notwithstanding the foregoing, a waiver or consent to depart from the provisions hereof with respect to a matter that relates exclusively to the rights of Holders of whose Registrable
    Securities are being sold pursuant to a Registration Statement and that does not directly or indirectly affect the rights of other Holders of Registrable Securities may be given by Holders of at least a majority of the Registrable Securities being sold
    by such Holders pursuant to such Registration Statement.

   

  (l)            Additional Parties. Notwithstanding anything to the contrary
    contained herein, the Company may add additional Shareholders to this Agreement at any time and from time to time, so long as such additional Shareholder becomes a party to this Agreement by executing the Joinder Agreement, substantially in the form
    attached hereto as Exhibit A.

   

  (m)          Equitable Relief. The parties hereto agree that legal remedies may
    be inadequate to enforce the provisions of this Agreement and that equitable relief, including specific performance and injunctive relief, may be used to enforce the provisions of this Agreement.

  

   

   

  

  
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  IN WITNESS WHEREOF, this Registration Rights Agreement has been duly executed by each of the parties hereto as of the date first written above.

   

  

  	 	NANO-X IMAGING LTD	 
	 	 	 	 
	 	By:	 	 
	 	 	Name:	 
	 	 	Title:	 

    

  
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  	 	Shareholder	 
	 	 	 	 
	 	By:	 	 
	 	 	Name:	 
	 	 	Title:	 

   

  

  	 	Address for notices:
	 	 	 
	 	Address:	 
	 	
           

           

          

        	 

   
  	 	 	 
	 	Attn:	 

   

  	 	 	 
	 	Telephone:	 

   

  	 	 	 
	 	Email:	 

   

  
    15 

    
      
 

  

  

   

  Exhibit A

   

  Joinder Agreement

   

  The undersigned hereby agrees, effective as of the date hereof, to join, become a party to and be bound by the Registration Rights Agreement,
    dated as of _______ [   ], 2020, by and among the Company and each of the shareholders signatory thereto, as the same may be in effect from time to time (the “Agreement”), and for all
    purposes of the Agreement, the undersigned shall be included within the term Shareholder (as defined in the Agreement) and be bound by the terms and provisions of the Agreement.

   

  __________________________

  Name of Shareholder

   

  By: ___________________________________ . 

  

  Name:

  

  Title:

   

  Dated:__________ , _______

   

  

    Address for notices:

   

  Address: _________________________________________________

   

  Attn: __________________________________

   

  Telephone: _____________________________

   

  Email: _________________________________Exhibit 10.5

  	 
	To
	 
	 
	 

  

    

   

  NANO-X IMAGING LTD

  (the “Company”)

   

  Indemnification and Exculpation Agreement

  (the “Agreement” or the “Indemnification Agreement”)

   

  WHEREAS, the undersigned Office Holder of the Company whose name appears on the
      signature page attached hereto (the “Indemnitee” or “you”) is an Office Holder (“Nosse Misra”), as such term is defined in the Companies Law, 5759-1999 (the “Companies Law”), of the Company;

   

  WHEREAS, both the Company and Indemnitee recognize the increased risk of litigation
      and other claims being asserted against Office Holders of companies and that highly competent persons have become more reluctant to serve corporations as directors and officers or in other capacities unless they are provided with adequate protection
      through exculpation, insurance or adequate indemnification against inordinate risks of claims and actions against them arising out of their service to, and activities on behalf of, companies;

   

  WHEREAS, the Amended and Restated Articles of Association of the Company (the “Articles”)
      authorize the Company to indemnify and advance expenses to its Office Holders and provide for insurance and exculpation to its Office Holders, in each case, to the fullest extent permitted by applicable law, and this Agreement is provided to
      Indemnitee in accordance with applicable law, the Articles and all requisite corporate approvals;

   

  WHEREAS,  the Company has determined that (i) the increased difficulty in attracting
      and retaining competent persons is detrimental to the best interests of the Company’s shareholders and that the Company should act to assure such persons that there will be increased certainty of such protection in the future, and (ii) it is
      reasonable, prudent and necessary for the Company contractually to obligate itself to indemnify, and to advance expenses on behalf of, such persons to the fullest extent permitted by applicable law, so that they will serve or continue to serve the
      Company free from undue concern that they will not be so indemnified;

   

  WHEREAS, in recognition of Indemnitee’s need for substantial protection against loss
      arising from the Indemnitee’s liability, including costs and expenses incurred by the Indemnitee due to his or her position as an Office Holder, in order to assure Indemnitee’s continued service to the Company in an effective manner and, in part, in
      order to provide Indemnitee with specific contractual assurance that indemnification, insurance and exculpation will be available to Indemnitee, the Company wishes to undertake in this Agreement for the exculpation, indemnification of and the
      advancing of expenses to Indemnitee to the fullest extent permitted by applicable law and as set forth in this Agreement and provide for insurance of Indemnitee as set forth in this Agreement;

   

  

  
  
    

  

  
     

  

  
   

  WHEREAS, the Company’s board of directors (the “Board”) determined it wishes
      to indemnify and advance expenses to the Office Holders of the Company in accordance with the Companies Law, and wishes to indemnify and advance expenses to director nominees of the Company, each as set forth in this Agreement; and

   

  WHEREAS, at the General Meeting of the Company, the Company, following the approval
      of the Board, determined it wishes to indemnify and advance expenses to the Office Holders of the Company in accordance with the Companies Law, and wishes to indemnify and advance expenses to director nominees of the Company, each as set forth in
      this Agreement.

   

  WE HEREBY DECLARE AND AGREE AS FOLLOWS:

   

  		1.	Obligation to indemnify:

   

  The Company hereby undertakes:

   

  		1.1.	To indemnify you to the fullest extent permitted by applicable law and the Articles, as each may be amended from time to time, for any
            liability or expense, as detailed below, imposed on Indemnitee due to or in connection with an act performed by such Indemnitee, either prior to or after the date hereof, in Indemnitee’s capacity as an Office Holder of the Company, including,
            without limitation, as a director, officer, employee, agent, observer or fiduciary of the Company, any subsidiary thereof or any other corporation, collaboration, partnership, joint venture, trust or other enterprise, in which you serve at any
            time at the request of the Company (the “Corporate Capacity”). The term “act performed in Indemnitee’s capacity as an Office Holder” shall include, without limitation, any act, omission and failure to act and any other circumstances
            relating to or arising from Indemnitee’s service in a Corporate Capacity. Notwithstanding the foregoing, in the event that the Office Holder is the beneficiary of an indemnification undertaking provided by a subsidiary of the Company or any
            other entity, with respect to his or her Corporate Capacity with such subsidiary or entity, then the indemnification obligations of the Company hereunder with respect to such Corporate Capacity shall only apply to the extent that the
            indemnification by such subsidiary or other entity does not actually fully cover the indemnifiable liabilities and expenses relating thereto. The following shall be hereinafter referred to as “Indemnifiable Events”:

   

  		1.1.1.	A monetary liability that you incur or that is imposed on you in favor of another person pursuant to a court judgment, including a judgment
            given in a settlement entered into consistent with the terms of this Agreement or a decision of an arbitrator that is enforceable against you and approved by a competent court, provided that such acts pertain to one or more of the events set
            out in the Schedule hereto which is an integral and inseparable part of this Agreement (the “Schedule”);

   

  

  
  
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  		1.1.2.	Reasonable litigation expenses, including legal fees that you incur or which are ordered to pay by a court in connection with proceedings
            filed against you by or on behalf of the Company or by a third party, or in a criminal proceeding in which you are acquitted, or in a criminal proceeding in which you are convicted of a crime but which does not require criminal intent;

   

  		1.1.3.	Reasonable litigation expenses, including reasonable legal fees that you incur in connection with an investigation or proceeding conducted
            against you by an authority authorized to conduct such investigation or proceeding and which concluded without the filing of an indictment against you and without you being subject to a financial obligation as a substitute for a criminal
            proceeding, or that concluded without the filing of an indictment against you but with the imposition of a financial obligation as a substitute for a criminal proceeding relating to an offence which does not require proof of criminal intent, or
            in connection with a monetary sanction, within the meaning of the relevant terms in the Companies Law;

   

  		1.1.4.	A financial liability that you incur for a payment which you are obligated to make to an injured party as set forth in section 52(54)(A)(1)(a)
            of the Israeli Securities Law, 1965 (the “Securities Law”).

   

  		1.1.5.	Expenses that you incur in connection with Administrative Proceedings (as defined below) you were involved in, including reasonable litigation
            fees and attorneys’ fees; for this purpose “Administrative Proceeding” shall mean a proceeding pursuant to Chapters H3 (Imposition of Monetary Sanction by the Israel Securities Authority), H4 (Imposition of Administrative Enforcement
            Means by the Administrative Enforcement Committee) or I1 (Settlement for the Avoidance of Commencing Proceedings or Cessation of Proceedings, Conditioned upon Conditions) of the Securities Law, as shall be amended from time to time; and

   

  		1.1.6.	Any other matter in respect of which it is permitted or will be permitted under applicable law to indemnify an Office Holder of the Company.

   

  For the avoidance of doubt, any reference to “expenses” in this Agreement shall
      include, without limitation, all reasonable attorneys’ fees, court costs, transcript costs, fees of experts, travel expenses, duplicating costs, printing and binding costs, telephone charges, postage, delivery service fees and all other out-of-pocket
      disbursements or expenses of the types customarily incurred in connection with prosecuting, defending, preparing to prosecute or defend, investigating, being or preparing to be a witness in, or otherwise participating in, a proceeding enumerated
      above or an appeal resulting from a proceeding to which you are a party.

   

  

  
  
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  		1.2.	The aggregate and accumulated indemnification amount that the Company may pay to its Office Holders and its director nominees (in addition to
            sums that may be received from insurance companies in connection with insurance policies that the Company has purchased as set forth in Section 1.3 below) pursuant to all the letters of indemnification issued and/or that shall be issued by the
            Company pursuant to the indemnification resolutions mentioned above (including in connection with an offering to the public of the Company’s securities), shall not exceed the greatest of (i) in relation to indemnity in connection with an
            offering to the public of the Company’s securities, the aggregate amount of proceeds from the sale by the Company and/or any shareholder of the Company in connection with such public offering; (ii) 25% of the Company’s total shareholders’
            equity pursuant to the Company’s most recent financial statements as of the time of the actual payment of indemnification, and (iii) $15 million prior to the public offering of the Company’s securities and $50 million thereafter (in each case,
            as may be increased from time to time by shareholders’ approval) (the ”Maximum Indemnification Amount”).

   

  		1.3.	The Maximum Indemnification Amount shall not be affected in any way by the existence of, or payment under, insurance policies. Payment of
            indemnification shall not affect your right to receive insurance payments, if you receive the same (either personally or through the Company); however, the Company will not be required to indemnify you for any sums that were, in fact, already
            paid to you or paid on your behalf (in each case, without any obligation for you to repay any such amount) in respect of insurance or any other indemnification paid to you or on your behalf by any third party, except with respect to any excess
            beyond the amount paid. In the event there is any payment made to you or on your behalf (in each case, without any obligation for you to repay any such amount) under this Agreement and such payment is covered by an insurance policy, the Company
            shall be entitled to collect such amount of payment from the insurance proceeds and you shall execute all papers required and take all action necessary to secure such rights, including execution of such documents as are necessary to enable the
            Company to bring suit to enforce such rights.

   

  		1.4.	In the event the indemnification amount the Company is required to pay to its Office Holders and its director nominees, as set forth in
            Section 1.1 above, exceeds at a certain time the Maximum Indemnification Amount (or the balance thereof after deducting any indemnification amounts paid or payable by the Company to any of its Office Holders or director nominees at such time)
            in accordance with Section 1.2 above, the Maximum Indemnification Amount or its remaining balance will be allocated between the Office Holders and director nominees entitled to indemnification, in the manner that the amount of indemnification
            that each of the Office Holders and director nominees will actually receive will be calculated in accordance with the ratio between the amount each individual Office Holder may be indemnified for, and the aggregate amount that all of the
            relevant Office Holders and director nominees involved in the event may be indemnified for.

   

  

  
  
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  		1.5.	Upon the occurrence of a proceeding of the type set forth in Section 1.1 above, the Company shall place at your disposal, on the date on which
            such amounts are first payable by you, the funds required to cover the expenditures and payments in connection with such proceeding, in a manner such that you shall not be required to pay for, or personally finance the legal expenses, subject
            to the conditions and instructions in this Indemnification Agreement. Advances shall be unsecured and, subject to Section 5, interest free. Advances shall be made without regard to your ability to repay the expenses and, subject to Section 4
            below, without regard to your ultimate entitlement to indemnification under the provisions of this Agreement. The payments of any such amounts shall be made by the Company directly to you (if you actually made the payment of such amount) or the
            relevant third party (if you have not yet made payment of such amount), as soon as practicable, but in any event no later than fifteen days after written demand by you therefor to the Company, and any such payment shall be deemed to constitute
            indemnification hereunder. As part of the aforementioned undertaking, the Company will make available to you any security or guarantee that you may be required to post in accordance with an interim decision given by a court, governmental or
            administrative body, or an arbitrator, including for the purpose of substituting liens imposed on your assets.

   

  		2.	The Company’s obligation to indemnify you in accordance with this Agreement is subject to this Agreement, terms and conditions set forth
                in this Section 2 and the permissibility of any such indemnification under applicable law.

   

  		2.1.	You shall inform the Company in writing of the commencement of any legal proceeding brought against you in connection with any Indemnifiable
            Event that may entitle you to indemnification, and of the receipt of any written notice or written threat that any such legal proceeding may be commenced against you (including any proceedings by or against the Company and any subsidiary
            thereof), and shall do so as promptly as practicable upon first becoming so aware, and you shall provide the Company, in the manner set forth in Section 16 below, all documents in connection with such proceedings as reasonably requested by the
            Company. If, at the time of receipt of notice from you, the Company has directors’ and officers’ liability insurance in effect, the Company shall give prompt notice of the commencement of such proceeding to the insurers in accordance with the
            procedures set forth in any such policy. The failure to notify the Company pursuant to this Section 2.1 will not relieve the Company from any liability it may have to you under this Agreement unless and only to the extent such failure to
            provide notice materially prejudices the Company’s ability to defend such action.

   

  

  
  
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  		2.2.	Other than with respect to proceedings that have been initiated against you by the Company or in its name, the Company, alone or jointly with
            any other indemnifying party, is entitled to assume the defense thereof, with counsel selected by the Company and reasonably acceptable to you provided that the Company shall inform you within 45 days from the date of receiving notice pursuant
            to Section 2.1 above (or within a shorter period of time if the matter requires filing a statement of defense or a response to a proceeding), that it has assumed the defense thereof and shall indemnify you according to this Agreement.
            Notwithstanding the foregoing (i) you shall have the right to employ separate counsel in any such proceeding at your expense and (ii) if (A) the employment of separate counsel by you has been previously authorized by the Company, (B) you shall
            have, in good faith, reasonably concluded that there may be a conflict of interest between the Company and you in the conduct of such defense of such action, or (C) the Company has not in fact employed counsel to assume the defense of such
            action within reasonable time or shall not continue to retain such counsel to defend such proceeding, then the fees and expenses actually and reasonably incurred by you with respect to your separate counsel shall be subject to indemnification
            hereunder. The Company and/or the aforementioned counsel shall have the right to conduct the defense as it or they see fit (provided that the Company shall conduct the defense in good faith and in a diligent manner); the appointed counsel shall
            act and shall owe its duty of loyalty to the Company and to you. In the event that the Company decides to settle a monetary obligation or to decide a monetary obligation by arbitration, mediation or settlement, the Company shall be entitled to
            do so as long as (a) the lawsuit or the threat of a lawsuit against you shall be fully withdrawn; (b) the amount of such obligation or settlement is fully indemnifiable pursuant to this Agreement and/or applicable law; and (c) any such
            obligation or settlement does not impose any penalty or limitation on you or require the admission of wrongdoing by you. In the event that clauses (a), (b) or (c) is not met, the Company may only settle a monetary obligation or decide a
            monetary obligation by arbitration, mediation or settlement after obtaining your prior written consent.

   

  		2.3.	You shall cooperate with the Company and/or with any counsel appointed by the Company as set forth above in every reasonable manner that shall
            be required from you by any of them in connection with the handling of such legal proceedings, all in accordance with Section 1.2 above at the Company’s expense. You shall not bear any additional legal expenses due to such cooperation.

   

  		2.4.	Your indemnification rights in connection with the legal proceedings against you, as set forth in this Agreement, will not be enforceable in
            connection with amounts that you shall be required to pay as a result of a settlement or arbitration effected without the Company’s prior written consent.

   

  

  
  
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  		2.5.	In addition, in the event of the indemnification hereunder is being paid in respect of your serving as an Office Holder in any subsidiary of
            the Company, such indemnification will only be paid after all your rights to insurance and indemnification from such subsidiary will have been exhausted, if and to the extent they exist.

   

  		2.6.	(A) Upon your written request for payment in connection with any Indemnifiable Event pursuant to this Agreement, the Company shall take all
            necessary steps according to any applicable law to pay such payment and will do all that is required to obtain any approval that is required. If a determination with respect to your entitlement to indemnification pursuant to this Agreement is
            required by applicable law, indemnification hereunder shall be made in the specific case by one of the following methods: (x) if no Change in Control has occurred, (i) by a majority vote of the Disinterested Directors, even if the number of
            such Disinterested Directors is less than a quorum of the Board (the “Majority Disinterested Directors”), (ii) by a committee of Disinterested Directors designated by the Majority Disinterested Directors or (iii) if there are no such
            Disinterested Directors, by Independent Counsel in a written opinion addressed to the Board, a copy of which shall be delivered to you; or (y) if a Change in Control shall have occurred, (i) if you so request in writing, by the Majority
            Disinterested Directors or (ii) otherwise, by Independent Counsel in a written opinion addressed to the Board, a copy of which shall be delivered to you.

   

  (B) If the determination of entitlement to indemnification is to be made by
      Independent Counsel pursuant to Section 2.7(A) above, the Independent Counsel shall be selected by the Board, provided that if a Change in Control shall have occurred, you shall select the Independent Counsel. You or the Company, as the case may be,
      may, within five days after written notice of such selection, deliver to you or the Company, as the case may be, a written objection to such selection, provided, however, that such objection may be asserted only on the ground that the Independent
      Counsel so selected does not meet the requirements of “Independent Counsel” set forth in Section 16 below, and the objection shall set forth with particularity the factual basis of such assertion. Absent a proper and timely objection, the person so
      selected shall act as Independent Counsel. If such written objection is so made and substantiated, the Independent Counsel so selected may not serve as Independent Counsel unless and until such objection is withdrawn or a court has determined that
      such objection is without merit. If, within 20 days after the later of (a) your submission of a written request for indemnification pursuant to Section 2.2 above, and (b) the final disposition of the proceeding, including any appeal therein, no
      Independent Counsel shall have been selected without objection, either you or the Company may petition the court for resolution of any objection which shall have been made by you or the Company to the selection of Independent Counsel and/or for the
      appointment as Independent Counsel selected by the court or by such other Person as the court shall designate. The Person with respect to whom all objections are so resolved or the Person so appointed shall act as Independent Counsel under Section
      2.7(A) above. Upon the due commencement of any judicial proceeding pursuant to Section 2.7(E) below, Independent Counsel shall be discharged and relieved of any further responsibility in such capacity (subject to the applicable standards of
      professional conduct then prevailing).

   

  

  
  
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  (C) If the Person empowered or selected under this Section 2.7 to determine
      whether you are entitled to indemnification shall not have made a determination within 60 days after receipt by the Company of the request therefor, the requisite determination of entitlement to indemnification shall be deemed to have been made, and
      you shall be entitled to such indemnification absent (i) your misstatement of a material fact, or an omission of a material fact necessary to make your statement not materially misleading, in connection with the request for indemnification, or (ii) a
      prohibition of such indemnification under applicable law, provided, however, that such 60 day period may be extended for a reasonable time, not to exceed an additional 30 days, if the Person making such determination with respect to entitlement to
      indemnification in good faith requires such additional time to obtain or evaluate documentation and/or information relating thereto.

   

  (D) You shall cooperate with the Person making such determination with respect
      to your entitlement to indemnification, including providing to such Person upon reasonable advance request any documentation or information, which is not privileged or otherwise protected from disclosure and which is reasonably available to you and
      reasonably necessary to such determination. Any Independent Counsel shall act reasonably and in good faith in making a determination regarding your entitlement to indemnification pursuant to this Agreement. Any costs or expenses (including attorneys’
      fees and disbursements) you incur in so cooperating with the Person, Persons or entity making such determination shall be borne by the Company (irrespective of the determination as to your entitlement to indemnification), and the Company hereby
      indemnifies and agrees to hold you harmless therefrom, subject to applicable law.

   

  (E) If any approval is required for payment in connection with any Indemnifiable
      Event pursuant to this Agreement and that payment shall not be approved for any reason (including if it is determined that you are not entitled to indemnification pursuant to Section 2.7(A) above), such payment, or any part of it, that will not be
      approved, as said above, shall be subject to the approval of a court.

   

  (F) The Company shall not be obligated under this Agreement to indemnify you:

   

  (i) for an accounting or disgorgement of profits made from
      your purchase and sale (or sale and purchase) of securities of the Company within the meaning of Section 16(b) of the Securities Exchange Act of 1934, as amended, or similar provisions of state or local statutory law or common law if you are held
      liable therefor (including pursuant to any settlement arrangements);

   

  

  
  
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  (ii) for any reimbursement of, or payment to, the Company of
      any bonus or other incentive-based or equity-based compensation or of any profits realized by you from the sale of securities of the Company pursuant to Section 304 of the Sarbanes-Oxley Act of 2002 (the “Sarbanes-Oxley Act”), the payment to
      the Company of profits arising from the purchase and sale of securities in violation of Section 306 of the Sarbanes-Oxley Act, if you are held liable therefor (including pursuant to any settlement arrangements) or any formal policy of the Company
      adopted by the Board (or a committee thereof), or any other remuneration paid to you if it shall be determined by a final judgment or other final adjudication that such remuneration was in violation of law; or

   

  (iii) with respect to any proceeding, or part thereof,
      brought by you against the Company, any legal entity which it controls, any director or officer thereof or any third party, unless (i) the Board has consented to the initiation of such proceeding or part thereof and (ii) the Company provides the
      indemnification, in its sole discretion, pursuant to the powers vested in the Company under applicable law; provided, however, that this Section 2.7(F)(iii) shall not apply to (A) counterclaims or affirmative defenses asserted by you in
      an action brought against you or (B) any action brought by you for indemnification or advancement from the Company under this Agreement or under any directors’ and officers’ liability insurance policies maintained by the Company in the suit for which
      indemnification or advancement is being sought.

   

  		3.	Validity and Binding Effect. The obligations of the Company according to this Agreement shall remain valid even if you have
            ceased to be an Office Holder of the Company, provided that acts for which you are given a commitment of indemnification were performed or shall be performed during your service as an Office Holder of the Company. This Agreement shall be
            binding upon the Company and its successors and assigns. The Company shall require and cause any successor (whether direct or indirect by purchase, merger, consolidation or otherwise) to all, substantially all or a substantial part, of the
            business and/or assets of the Company, by written agreement in form and substance satisfactory to you, expressly to assume and agree to perform this Agreement in the same manner and to the same extent that the Company would be required to
            perform if no such succession had taken place.

   

  		4.	Exculpation. Subject to the provisions of the Companies Law, the Company hereby releases you, in advance, as an Office Holder
            of the Company from liability to the Company for any damage that arises from the breach of your duty of care to the Company (within the meaning of such terms under Sections 252 and 253 of the Companies Law), other than breach of the duty of
            care towards the Company in a distribution (as such term is defined in the Companies Law).

   

  

  
  
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  		5.	Repayment of Sums; Partial Indemnity. In the event the Company pays to you, or in your place, any amount pertaining to this
            Agreement in connection with a legal proceeding as stated above, and afterwards it shall be determined that you are not entitled to any indemnification from the Company for any reason whatsoever, the sums paid by the Company shall be considered
            a loan that was granted to you by the Company, and shall be linked to the Consumer Price Index and accrue interest in accordance with the Income Tax Regulations (Determination of the Interest Rate), 1985, as amended from time to time. You will
            be required to repay these sums to the Company when requested to do so in writing by the Company and in accordance with a payment schedule that the Company shall in its discretion determine.

   

  If you are entitled under any provision of this Agreement to indemnification by
      the Company for some or a portion of the expenses, judgments, fines, penalties and amounts paid in settlement arising out of or resulting from a claim of indemnification hereunder but not, however, for the entire amount thereof, the Company shall
      nevertheless indemnify you for the portion thereof to which you are entitled. Moreover, notwithstanding any other provision of this Agreement, to the extent that you have been successful on the merits or otherwise in defense of any or all claims for
      indemnification relating in whole or in part to any Indemnifiable Event or in defense of any issue or matter therein, including dismissal without prejudice, you shall be indemnified against all expenses incurred in connection therewith.

   

  		6.	Terms in Companies Law. The terms contained in this Agreement will be construed in accordance with the Companies Law, as amended
            from time-to-time.

   

  		7.	Interpretation. The obligations of the Company according to this Agreement shall be interpreted broadly and in a manner that
            shall facilitate its execution, to the extent permitted by law, and for the purposes for which it was intended. In the event of a conflict between any provision of this Agreement and any provision of the law, said provision of the law shall
            supersede the specific provision in this Agreement, but shall not limit or diminish the validity of the remaining provisions of this Agreement.

   

  		8.	Force and Effect. The indemnification under this Agreement will enter into effect upon your signing a copy of the same in the
            appropriate place, and the delivery of such signed copy to the Company. Upon its effectiveness, this Indemnification Agreement revokes any previous undertaking for indemnification, if and insofar as offered and granted to you by the Company.
            Notwithstanding the foregoing, if this Indemnification Agreement shall be declared or found void for any reason whatsoever, then any previous undertaking by the Company for indemnification towards you, to the extent granted, shall remain in
            full force and effect, subject to any applicable law.

   

  

  
  
    10

  

  
     

  

  
   

  		9.	Changes and Amendments. The Company may, at its sole discretion and at any time, revoke its undertaking to indemnify you
            hereunder, or reduce the Maximum Indemnification Amount, or limit the Indemnifiable Events to which it applies, in regard to all the Office Holders and director nominees, to the extent it relates only, to Indemnifiable Events that will apply
            after the date of such change, provided that prior notice has been given to the Office Holder of the Company’s intention to do so, in writing at least 60 days before the date on which such decision will enter into effect. For the avoidance of
            doubt, it is hereby clarified that any such decision will not have retroactive effect of any kind whatsoever and the Indemnification Agreement, prior to such change or revocation, as the case may be, will continue to apply and be in full force
            and effect for all purposes in relation to any Indemnifiable Event that has preceded such change or revocation, even if the proceeding in respect thereof has been filed against the Office Holder after the change or revocation of the
            Indemnification Agreement. In all other cases, this Indemnification Agreement may not be changed, unless the Company and yourself have signed an agreement effecting such change.

   

  		10.	Third Parties; No Assignment. This Agreement does not constitute a contract for the benefit of any third party and is not
            assignable. For the avoidance of doubt, in the event of death, this Agreement will apply to you and your estate.

   

  		11.	Waiver. No waiver, delay, forbearance to act or extension granted by the Company or by you shall be binding unless executed in
            writing by the parties thereto. No waiver of any of the provisions of this Agreement will be construed in any circumstances as a waiver of other provisions hereunder, and will not prevent any such party from taking all legal and other steps as
            will be required in order to enforce such other provisions. No supplement, modification or amendment of this Agreement or any provision hereof shall limit your right under this Agreement in respect of any action you take or omit to take prior
            to such supplement, modification or amendment.

   

  		12.	Retroactive Right to Indemnify. The foregoing does not derogate from the Company’s right to indemnify you retroactively in
            accordance with the Articles and subject to any applicable law.

   

  		13.	Liability Insurance. To the extent the Company maintains an insurance policy or policies providing directors’ and officers’
            liability insurance, you shall be covered by such policy or policies, in accordance with its or their terms, to the maximum extent of the coverage available for any Office Holder of the Company.

   

  		14.	Governing Law and Jurisdiction. The laws of the State of Israel shall govern this Agreement and all issues related thereto,
            without giving effect to any conflicts of law principles. You and the Company hereby (i) irrevocably consent to the exclusive jurisdiction of the courts in Tel Aviv, Israel in connection with this Indemnification Agreement, except if an
            indemnification claim is related to a legal proceeding already filed by a third party in a different court and (ii) irrevocably consent to service of process at the address set forth in Section 16 of this Agreement.

   

  

  
  
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  		15.	Enforcement. The Company expressly confirms and agrees that it has entered into this Agreement and assumed the obligations
            imposed on it hereby in order to induce you to serve or continue to serve as an Office Holder of the Company, and the Company acknowledges that you are relying upon this Agreement in serving as an Office Holder of the Company.

   

  		16.	Notices. All notices, requests, demands and other communications under this Agreement shall be in writing and shall be deemed to
            have been duly given if (i) delivered by hand and receipted for by the party to whom said notice or other communication shall have been directed; (ii) mailed by certified or registered mail with postage prepaid, on the third business day after
            the date on which it is so mailed; (iii) mailed by reputable overnight courier and receipted for by the party to whom said notice or other communication shall have been directed; or (iv) sent by facsimile transmission, with receipt of oral
            confirmation that such transmission has been received:

   

  (a) If to you, at such address as you shall provide the Company.

   

  (b) If to the Company to:

   

  Att: CEO and CFO

   

  NANO-X IMAGING LTD

   

  Communications Center, Neve Ilan, Israel 9085000, Israel

   

  or to any other address as may have been furnished to you by the Company.

   

  		17.	Definitions.  In this Agreement:

   

  “Action”, “Act” or any derivative of it – including a decision or a
      failure or omission to act and including your Actions before the date of this Agreement that were made during your term of service as an Office Holder in the Company.

   

  “Change in Control” – (i) the sale of all or substantially all of the
      assets of the Company on a consolidated basis to an unrelated person or entity, (ii) a merger, reorganization or consolidation pursuant to which the holders of the Company’s outstanding voting power and outstanding shares immediately prior to such
      transaction do not own a majority of the outstanding voting power and outstanding shares or other equity interests of the resulting or successor entity (or its ultimate parent, if applicable) immediately upon completion of such transaction, (iii) the
      sale of all of the share capital of the Company to an unrelated person, entity or group thereof acting in concert, or (iv) any other transaction in which the owners of the Company’s outstanding voting power immediately prior to such transaction do
      not own at least a majority of the outstanding voting power of the Company or any successor entity (or its ultimate parent, if applicable) immediately upon completion of the transaction other than as a result of the acquisition of securities directly
      from the Company.

   

  

  
  
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  “Disinterested Directors” – members of the Board who are not parties to
      the action, suit or proceeding in respect of which indemnification is sought.

   

  “Enterprise” – any corporation (other than the Company), partnership,
      joint venture, trust, employee benefit plan, limited liability company, or other legal entity you are or were serving at the request of the Company as a director, manager, partner, officer, employee, agent or trustee.

   

  “Independent Counsel” – a law firm, or a partner (or, if applicable,
      member or shareholder) of such a law firm, that is experienced in matters of applicable law and neither presently is, nor in the past five years has been, retained to represent: (i) the Company, any subsidiary of the Company, any Enterprise or you in
      any matter material to any such party; or (ii) any other party to the proceeding giving rise to a claim for indemnification hereunder. Notwithstanding the foregoing, the term “Independent Counsel” shall not include any person who, under the
      applicable standards of professional conduct then prevailing, would have a conflict of interest in representing either the Company or you in an action to determine your rights under this Agreement. The Company agrees to pay the reasonable fees and
      expenses of the Independent Counsel referred to above and to fully indemnify such counsel against any and all expenses, claims, liabilities and damages arising out of or relating to this Agreement or its engagement pursuant hereto.

   

  “Person” – any individual, corporation, partnership (limited or general),
      limited liability company, limited liability partnership, association, trust, joint venture, unincorporated organization or any similar entity.

   

  This Agreement shall be neutral with regard to gender.

   

  		18.	Non Exclusivity. The rights of indemnification and to receive advancement as provided by this Agreement shall not be deemed
            exclusive of any other rights to which you may at any time be entitled under applicable law, the Articles, any agreement, a vote of shareholders or a resolution of directors, or otherwise. To the extent that a change in Israeli law, whether by
            statute or judicial decision, permits greater indemnification or advancement than would be afforded currently under the Articles or this Agreement, it is the intent of the parties hereto that you shall enjoy by this Agreement the greater
            benefits so afforded by such change. No right or remedy herein conferred is intended to be exclusive of any other right or remedy, and every other right and remedy shall be cumulative and in addition to every other right and remedy given
            hereunder or now or hereafter existing at law or in equity or otherwise. The assertion or employment of any right or remedy hereunder, or otherwise, shall not prevent the concurrent assertion or employment of any other right or remedy.

   

  

  
  
    13

  

  
     

  

  
   

  		19.	Entire Agreement. This Agreement constitutes the entire agreement between the parties hereto with respect to the subject matter
            hereof and supersedes all prior agreements and understandings, oral, written and implied, between the parties hereto with respect to the subject matter hereof; provided, however, that this Agreement is a supplement to and in furtherance of the
            Articles and applicable law, and shall not be deemed a substitute therefor, nor to diminish or abrogate any of your rights thereunder.

   

  
  
    14

  

  
     

  

  
   

  In witness whereof, the Company has executed this Indemnification and Exculpation Agreement by its authorized
      signatorie(s).

   

  		 
	
          NANO-X IMAGING LTD

        	 

   

  By: ______________________________

   

  I hereby confirm receiving this Agreement and agree to all its terms. 

   

  	
          Signature of Office Holder

        	
           

          

        

   

  Name: _____________________________

   

  Date:  _____________________________

   

  
  
    15

  

  
     

  

  
   

  SCHEDULE

   

  Subject to any provision of the Companies Law, the events are as follows:

   

  		1.	Any issuance of the Company’s securities and/or listing of the Company’s securities for trading on a stock exchange in the U.S., Israel or any
            other country, including without limitation, a public offering pursuant to a prospectus, a private offering, an offer for sale, the issuance of bonus shares or any offer of securities in any other manner;

   

  		2.	An event arising from the Company being a public company or arising from the fact that its shares were offered to the public or arising from
            the fact that the Company’s shares are traded on a stock exchange in the U.S., Israel or any other country;

   

  		3.	Conducting tender offers and anything related thereto;

   

  		4.	A “Transaction” within the meaning of Section 1 of the Companies Law, including without limitation negotiations for entering into a
            transaction, the transfer, sale or purchase or charge of assets or liabilities, including securities, or the grant or receipt of a right to any of the foregoing, receiving credit and the grant of collateral and any act directly or indirectly
            involved in such “Transaction” and including disclosure of information and documents with respect to such “Transaction”;

   

  		5.	Resolutions and/or acts relating to approval of transactions with stakeholders, as such transactions are defined in Chapter 5 of Part VI of
            the Companies Law or any amendments thereto or similar legislation;

   

  		6.	Reports or notices filed in accordance with (a) any applicable law, including, without limitation, the Companies Law, the Israeli Securities
            Law of 1968, the Securities Act of 1933 and/or the Securities Exchange Act of 1934, including regulations promulgated thereunder; (b) any tax laws, antitrust laws and labor laws; and (c) any rules or instructions prevailing on an Israeli stock
            exchange, a U.S. stock exchange, or a stock exchange or securities market in any other country or any law of another country regulating similar matters, and/or the omission to act accordingly;

   

  		7.	Adoption of the findings of external opinions for the purpose of the issuance of an immediate report, prospectus, financial statements or any
            other disclosure document;

   

  		8.	Discussion and passing resolutions and discovery and disclosure in the Company’s reports, including an evaluation with respect to the
            effectiveness of internal controls and other issues incorporated in the report of the Board, as well as the issuance of statements and references to the Company’s financial statements;

   

  		9.	Preparation, editing, approval and execution of the financial statements, including the passing of resolutions as to the application of
            accounting principles and any restatement of the Company’s financial statements;

   

  		10.	Adoption of financial reporting in accordance with any accounting principles, including United States Generally Accepted Accounting Principles
            (US GAAP), and any act in connection therewith;

   

  		11.	Events relating to the effecting of investments on the part of the Company in any corporation;

   

  		12.	Any resolution with respect to a distribution, as defined in the Companies Law, including a distribution with a court’s approval;

   

  

  
  
    16

  

  
     

  

  
   

  		13.	Amendment to the Company’s structure or its reorganization, a change in the Company’s ownership, or any resolution with respect to such
            matters, including without limitation, a merger, split, spin-off, change in the Company’s capital structure, incorporation of subsidiaries, dissolution or sale thereof, issuance or distribution;

   

  		14.	Consolidation, change or revision of arrangements between the Company and the shareholders and/or holders of bonds and/or banks and/or
            creditors of the Company or of any entities affiliated with the Company, including the preparation or revision of the trust deeds, bonds and outline and arrangement documents in general;

   

  		15.	Actions relating to the issuance of licenses, permits or approvals, including approvals and/or exemptions in respect of restrictive trade
            practices;

   

  		16.	The making of any statement, including a bona fide statement of opinion, vote and/or abstaining from voting, made by an Office Holder of the
            Company in such capacity, such as in negotiations and contractual engagements with suppliers and customers, including during meetings of management, the Board or any committee thereof;

   

  		17.	An Action in contradiction to, or deviation from, the articles of association of the Company then in effect;

   

  		18.	Any Action or decision in relation to employer-employee relations, including the negotiation for, signing and performance of individual or
            collective employment agreements, other employee benefits (including allocation of securities to employees) and harassment suits;

   

  		19.	Any Action or decision in relation to work safety and/or working conditions;

   

  		20.	Actions in connection with the sale, distribution, licensing or use of Company’s products and services;

   

  		21.	Any Action or omission undertaken in negotiating, signing and performing any insurance policy or any claim relating to a failure to maintain
            appropriate insurance and/or adequate safety matters;

   

  		22.	Formulating working programs, including pricing, marketing, distribution, directives to employees, customers and suppliers and collaborations
            with competitors;

   

  		23.	Decisions and/or acts pertaining to the environment and to public health, including dangerous substances;

   

  		24.	Decisions and/or acts pertaining to the Consumer Protection Law, 5741-1981, and/or orders and/or regulations thereunder, or any amendments
            thereto or similar legislation;

   

  		25.	Actions relating to the Company’s intellectual property and the protection thereof, including the registration or enforcement of intellectual
            property rights and their protection;

   

  		26.	Infringement of intellectual property rights of third parties, including, without limitation, patents, designs, breeders’ rights, trademarks,
            and copyrights;

   

  		27.	Negotiating, making and performing contracts of any kind and type with suppliers, distributors, agents, franchisees and the like of the
            products and services that are marketed and/or sold by, or by those serving, the Company;

   

  		28.	Negotiating, making and performing agreements with manpower contractors, service contractors, building contractors, renovations contractors,
            etc.;

   

  

  
  
    17

  

  
     

  

  
   

  		29.	Reporting and/or filing applications to state and other authorities;

   

  		30.	Investigations on the part of state and other authorities;

   

  		31.	Management of the bank accounts which the Company operates and performance of transactions in such bank accounts, including with respect to
            transactions in foreign currencies (including foreign currency deposits), securities (including resale transactions in securities and lending and borrowing of securities), loans and credit facilities, debit cards, bank guarantees, letters of
            credit, and consultation agreements concerning investments, including with portfolio managers, hedging transactions, options, futures contracts, derivatives, swap transactions, etc.

   

  		32.	Realization of personal guarantees provided by the Office Holder to the Company, as security for the Company’s obligations and/or
            declarations;

   

  		33.	Failure to maintain complete and/or proper due diligence procedures over the Company’s investments and transactions of all kinds, resulting in
            a loss of the investments in whole or in part and/or an adverse effect to the Company’s businesses and/or breach of an undertaking vis-à-vis a third party;

   

  		34.	Events and acts in connection with investments, or acquisitions, performed by the Company with respect to any corporations or other legal
            entities (including acquisition of assets or rights), before or after effecting the investment or acquisition, including for the purpose of entering into a transaction, its implementation, development, follow up and supervision;

   

  		35.	Financial liability imposed on an Office Holder in connection with acts in which he took part on behalf of the Company, vis-à-vis the various
            state institutions;

   

  		36.	Financial liability imposed on an Office Holder in connection with a claim by third parties against the Office Holder due to deficient or
            misleading disclosure, in writing or verbally, to existing and/or potential investors in the Company, including in the event of the merger of the Company with another company;

   

  		37.	Covering the excess insurance in the event of the activation of directors’ and officers’ liability insurance;

   

  		38.	Breach of the provisions of any agreement whatsoever to which the Company is a party;

   

  		39.	An Action relating to a tax liability of the Company and/or a subsidiary and/or shareholders of any of them;

   

  		40.	Actions and omissions not covered by a product insurance policy;

   

  		41.	Actions and omissions in connection with bodily injuries or property damage attributed to the Company and/or to an Office Holder who has acted
            on its behalf;

   

  		42.	Acts and omissions arising from failure to purchase appropriate insurance and/or to take sufficiently secure measures and/or negligence in
            risk management;

   

  		43.	Any of the foregoing events, in connection with the capacity of the Office Holder in the Company by virtue of his capacity as an Office Holder
            and/or employee and/or observer at meetings of competent organs of a related corporation;

   

  		44.	Any of the foregoing events relating to the capacity of such Office Holder as an Office Holder of a corporation controlled by the Company or
            otherwise affiliated therewith; and

   

  

  
  
    18

  

  
     

  

  
   

  		45.	Any event or action for which indemnification is allowed to be granted under the Efficiency of Enforcement Proceedings in the Israel
            Securities Authority Law (Legislation Amendments) of 2011 and regulations thereunder, or any amendments thereto or similar legislation or equivalent legislation in any jurisdiction.

   

  For the purpose of this Schedule, the “Company” shall include all subsidiaries and
      Affiliates of the Company.

   

  * * *

   

  

  
  
    19

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