Document:

Exhibit 4.1

 

THIS PROMISSORY NOTE HAS HAVE NOT BEEN
REGISTERED UNDER THE U.S. SECURITIES ACT OF 1933, AS AMENDED (THE “SECURITIES ACT”), AND MAY NOT BE OFFERED OR SOLD
WITHIN THE UNITED STATES OR TO, OR FOR THE ACCOUNT OR BENEFIT OF, U.S. PERSONS (I) AS PART OF THEIR DISTRIBUTION AT ANY TIME OR
(II) OTHERWISE UNTIL SIX MONTHS AFTER THE LATER OF THE COMMENCEMENT OF THE OFFERING THEREOF AND THE CLOSING DATE, EXCEPT IN EITHER
CASE IN ACCORDANCE WITH REGULATION S UNDER THE SECURITIES ACT. NO HEDGING TRANSACTION CAN BE CONDUCTED WITH REGARD TO THE SECURITIES
EXCEPT AS PERMITTED BY THE SECURITIES ACT. TERMS USED ABOVE HAVE THE MEANINGS GIVEN TO THEM BY REGULATION S PROMULGATED UNDER THE
SECURITIES ACT.

 

THIS PROMISSORY NOTE HAS NOT BEEN REGISTERED
WITH THE SECURITIES AND EXCHANGE COMMISSION IN RELIANCE UPON AN EXEMPTION FROM REGISTRATION UNDER THE SECURITIES ACT OR UNDER ANY
APPLICABLE STATE SECURITIES LAWS AND, ACCORDINGLY, MAY NOT BE OFFERED OR SOLD EXCEPT PURSUANT TO AN EFFECTIVE REGISTRATION STATEMENT
UNDER THE SECURITIES ACT OR PURSUANT TO AN AVAILABLE EXEMPTION FROM, OR IN A TRANSACTION NOT SUBJECT TO, THE REGISTRATION REQUIREMENTS
OF THE SECURITIES ACT AND IN COMPLIANCE WITH APPLICABLE STATE SECURITIES LAWS OR BLUE SKY LAWS.

 

GLASSESOFF
INC.

8%
SENIOR CONVERTIBLE PROMISSORY NOTE

(this “Note”)

 

	US$	 	September 21, 2015

 

WHEREAS, this
Note is one of a series of 8% Senior Convertible Promissory Notes (collectively, the “GlassesOff Notes”), issued
and sold by GlassesOff Inc., a Nevada corporation (“Borrower”) pursuant to that certain Securities Purchase
Agreement, dated as of September 17, 2015, as may be amended from time to time, by and among Borrower and the Investors party thereto,
together with any such subsequently executed and delivered purchase agreement pursuant to which Borrower issues and sells GlassesOff
Notes (collectively, the “Purchase Agreement”); and

 

WHEREAS, capitalized
terms used herein but not defined herein shall have the respective meanings ascribed thereto in the Purchase Agreement.

 

FOR VALUE RECEIVED,
Borrower hereby promises to pay to the order of [__________________] (“Lender”), the principal sum of
[________________], together with interest, at the applicable rate of interest set forth herein. Certain capitalized terms are
defined in Section ‎13.

 

1.            Payment
of Principal and Interest; Interest Rate.

 

(a)          Payment
of Principal and Interest. Borrower, shall, subject to the earlier conversion of this Note in accordance with Section ‎5,
pay to Lender the outstanding principal balance under this Note, together with accrued and unpaid interest thereon, on the Maturity
Date. Interest on this Note shall accrue at the Applicable Rate from the most recent date to which interest has been paid or, if
no interest has been paid, from the date of issuance, until the principal hereunder, and accrued and unpaid interest thereon, shall
have been paid in full.

 

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(b)          Interest
Rate; Determination. Interest shall accrue on the unpaid principal balance of this Note at the per annum rate equal to 8.0%,
calculated on the basis of a 365/366 day year and the actual number of days elapsed (the “Applicable Rate”).

 

2.            Maturity
Date. Subject to the earlier conversion of this Note in accordance with Section 5, the unpaid principal balance (including
all accrued and unpaid interest thereon) shall be due and payable on March 20, 2018 (the “Maturity Date”).

 

3.           Manner
of Payment. All amounts due and payable under this Note shall be paid in lawful money of the United States of America. Payments
shall be paid to Lender by wire transfer of immediately available funds in accordance with the instructions set forth on the signature
page hereto. Lender may modify such instructions by delivering notice thereof to Borrower in accordance with Section 12.

 

Borrower shall be entitled
to deduct and withhold from any payment, such amounts as may be required to be deducted and withheld under applicable Law, including,
without limitation, any such deduction and withholding with respect to the making of such payment under the Israeli Income Tax
Ordinance New Version, 1961, as amended, and all rules and regulations promulgated thereunder or any other applicable tax law or
regulation.

 

If any payment under
this Note shall become due and payable on a Saturday, Sunday, or a bank or legal holiday, then such payment shall be made on the
next succeeding Business Day, without additional interest, premium or penalty.

 

4.            Redemption.
Borrower may redeem all, but not less than all, of the then issued and outstanding GlassesOff Notes (the “Redemption Right”).
Borrower may exercise the Redemption Right by delivering notice to all Holders of Borrower’s exercise of the Redemption Right
(the “Redemption Notice”), which Redemption Notice shall be signed by Borrower’s Chief Executive Officer
and shall contain the following: (i) the date on which Borrower will redeem the GlassesOff Notes, which shall be a date no fewer
than 30 days, and no more than 60 days, immediately following the date of the Redemption Notice (the “Redemption Date”);
(ii) the aggregate principal amount of GlassesOff Notes then outstanding; (iii) the Redemption Price, including a reasonably detailed
calculation thereof; and (iv) instructions for a Holder to deliver such Holder’s GlassesOff Notes to Borrower and receive
in exchange therefor the Redemption Price for each $1,000 principal amount of such Holder’s GlassesOff Notes so delivered.
At any time prior to 5:00 p.m. Tel Aviv time on the date immediately preceding the Redemption Date, a Holder may elect to convert
such Holder’s Notes in accordance with Section 5(d).

 

5.            Note
Conversion; Redemption.

 

(a)          Conversion.
Subject to the terms and provisions hereof, this Note shall convert into shares of Borrower’s common stock, par value $0.001
(“Common Stock”), as set forth in this Section ‎5.

 

(b)          Automatic
Conversion Upon Average Closing Price Condition. If at any time prior to the Maturity Date, the closing price of the Common
Stock on the Trading Market exceeds 500% of the Conversion Price for any 90 days in any 120 consecutive Trading Day period, then
this Note shall automatically convert into a number of shares of Common Stock equal to the entire aggregate principal amount of
this Note, together with all accrued and unpaid interest thereon, divided by the Conversion Price then in effect.

 

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(c)          Automatic
Conversion Upon a Qualified Financing. Upon consummation of a Qualified Financing, this Note shall automatically convert, at
Lender’s election, into either: (i) a number of shares of Common Stock equal to the entire aggregate principal amount of
this Note, together with all accrued and unpaid interest thereon, divided by the Conversion Price then in effect; or (ii)
a number of the shares or units, as applicable, offered to investors in such Qualified Financing equal to the entire aggregate
principal amount of this Note, together with accrued and unpaid interest thereon, divided by 50% of the Qualified Financing
Purchase Price. Lender shall make such election in a writing delivered to Borrower not later than the first closing date for such
Qualified Financing. If Lender shall fail to timely make such election, then this Note shall automatically convert as provided
in the immediately preceding clause (i).

 

(d)          Optional
Conversion. Subject to Section 5(b) and Section 5(c), at any time prior to the Maturity Date, Lender may deliver
to Borrower written notice of Lender’s election to convert the entire aggregate principal amount of this Note, together with
all interest thereon, into shares of Common Stock (a “Conversion Notice”), in which case the entire aggregate
principal amount of this Note, together with all accrued and unpaid interest thereon, shall convert into a number of shares of
Common Stock equal to the entire aggregate principal amount of this Note, together with all accrued and unpaid interest thereon,
divided by the Conversion Price then in effect.

 

(e)          Method
of Conversion. Conversion of this Note pursuant to Section ‎5 shall take place at any time during the usual business
hours of Borrower at its principal office or at such other time and place as Borrower and Lender may agree, by the surrender for
cancellation of this Note and, if so required, by a written instrument or instruments of transfer in form reasonably satisfactory
to Borrower duly executed by Lender. Borrower shall pay any applicable transfer tax. This Note shall be deemed to have been converted
as of the close of business on the Conversion Date, and Lender shall be treated for all purposes as the holder of record of such
number of Common Stock, as provided in this Section ‎5, on Borrower’s books and records as of the close of business
on the Conversion Date.

 

(f)          Share
Issuance. Borrower shall issue and deliver, on or prior to the fifth (5th) Business Day after the Conversion Date,
to Lender or to the nominee of Lender, at the address of Lender on the books of Borrower or as otherwise directed by Lender in
writing, a certificate evidencing the Common Stock to which Lender shall be entitled, and Borrower shall register such Common Stock
in its share registry.

 

(g)          Reserved
Common Stock. Borrower shall at all times keep authorized and approved under its Amended and Restated Articles of Incorporation,
as may be amended from time to time, solely for the purpose of effecting the conversion of this Note and the other GlassesOff Notes,
such number of shares of Common Stock issuable upon the conversion of this Note and the other GlassesOff Notes in accordance with
their terms, and shall take all such action as may be required from time to time in order that it may validly and legally issue
the Common Stock upon such conversion.

 

(h)          Adjustment
to Conversion Price.

 

(i)          Adjustment
for Share Splits and Combinations. If Borrower shall at any time or from time to time after the date hereof effect a subdivision
of the outstanding shares of Common Stock, then the Conversion Price in effect immediately before such subdivision shall be multiplied
by a fraction (i) the numerator of which is the total number of shares of Common Stock issued and outstanding immediately prior
to the time of such subdivision, and (ii) the denominator of which is the total number of shares of Common Stock issued and outstanding
immediately following such subdivision. Conversely, if Borrower shall at any time or from time to time after the date hereof combine
the outstanding shares of Common Stock into a smaller number of shares, then the Conversion Price in effect immediately before
the combination shall be multiplied by a fraction (i) the numerator of which is the total number of shares of Common Stock issued
and outstanding immediately prior to the time of such combination, and (ii) the denominator of which is the total number of shares
of Common Stock issued and outstanding immediately following such combination. Any adjustment pursuant to this Section 5(h)(i)
shall become effective at the close of business on the date the subdivision or combination becomes effective.

 

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(ii)         Adjustment
for Dividends and Distributions. If Borrower at any time or from time to time after the date hereof makes, or fixes a record
date for the determination of holders of Common Stock entitled to receive, a dividend or other distribution payable in Common Stock,
then, in each such event, the Conversion Price that is then in effect shall be decreased as of the time of such issuance or, in
the event such record date is fixed, as of the close of business on such record date, by multiplying the Conversion Price then
in effect by a fraction (i) the numerator of which is the total number of shares of Common Stock issued and outstanding immediately
prior to the time of such issuance or the close of business on such record date, and (ii) the denominator of which is the total
number of shares Common Stock issued and outstanding immediately prior to the time of such issuance or the close of business on
such record date plus the number of shares of Common Stock issued or issuable in payment of such dividend or distribution; provided,
however, that if such record date is fixed and such dividend is not fully paid or if such distribution is not fully made
on the date fixed therefor, then the Conversion Price shall be recomputed accordingly as of the close of business on such record
date, and thereafter the Conversion Price shall be adjusted pursuant to this Section 5(h)(ii) to reflect the actual payment
of such dividend or distribution.

 

(iii)        Adjustment
for Reclassification, Exchange and Substitution. If at any time or from time to time after the date hereof the Common Stock
issuable upon the conversion of this Note is changed into the same or a different number of shares of any class or classes of shares,
whether by recapitalization, reclassification or otherwise (other than an acquisition or asset transfer or a subdivision or combination
of shares or share dividend or a reorganization, merger, consolidation or sale of assets provided for elsewhere in this Section
5(h)), then in any such event Lender, upon conversion of this Note in circumstances in which Common Stock would otherwise be
issuable, shall instead be entitled to receive upon such conversion, the kind and amount of shares and other securities and property
receivable upon such recapitalization, reclassification or other change by holders of the number of shares of Common Stock into
which this Note would have been converted (assuming the conversion thereof) immediately prior to such recapitalization, reclassification
or change, all subject to further adjustment as provided herein or with respect to such other securities or property by the terms
thereof.

 

(iv)        Reorganizations,
Mergers, Consolidations or Sales of Assets. If any Organic Change shall be effected in such a way that holders of Common Stock
shall be entitled to receive (either directly or upon subsequent liquidation) shares, securities or assets in respect of or in
exchange for their shares of Common Stock, then, as a condition of such Organic Change, lawful and adequate provisions shall be
made whereby each Lender shall thereupon have the right to receive, upon the basis and upon the terms and conditions specified
herein and in lieu of Common Stock immediately theretofore receivable upon the conversion of this Note, such shares, securities
or assets as may be issued or payable in respect of or in exchange for the number of outstanding shares of Common Stock that would
have been immediately theretofore receivable upon conversion of this Note had such Organic Change not taken place, and in the case
of any reorganization or reclassification appropriate provisions shall be made with respect to the rights and interests of Lender
whereby the provisions hereof (including, without limitation, provisions for adjustments to the Conversion Price) shall thereafter
be applicable, as nearly as may be, in relation to any shares, securities or assets thereafter deliverable upon the exercise of
such conversion rights.

 

(v)         Certificate
of Adjustment. In each case of an adjustment or readjustment of the Conversion Price pursuant to Section 5(h), Borrower,
at its expense, shall compute such adjustment or readjustment in accordance with the provisions hereof and prepare a certificate
showing such adjustment or readjustment, and shall mail such certificate, by first class mail, postage prepaid, to Lender at in
accordance with Section ‎12. The certificate shall set forth such adjustment or readjustment, showing in reasonable
detail the facts upon which such adjustment or readjustment is based.

 

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(i)          Fractional
Shares; Aggregation. No fractional shares of Common Stock shall be issued upon conversion of this Note. If Conversion of this
Note would result in the issuance of any fractional shares of Common Stock, then Borrower shall, in lieu of issuing any fractional
share, round up to the nearest whole share.

 

6.            Representations
and Warranties. Borrower represents and warrants to Lender, on the date hereof, that: 

 

(i)          It
is duly incorporated and validly existing under the Laws of the State of Nevada;

 

(ii)         It
has full power and legal right to execute and deliver this Note and to perform its obligations hereunder and under the other GlassesOff
Notes, and its execution and delivery of this Note and the other GlassesOff Notes, and the performance by it of its obligations
hereunder and thereunder, have been duly authorized by all necessary corporate action and do not conflict with any applicable Law
or material contractual restriction binding upon or affecting it or any of its property or assets;

 

(iii)        This
Note and the other GlassesOff Notes constitute the legal, valid and binding obligations of Borrower, enforceable against Borrower
in accordance with their terms, except as the enforcement hereof may be limited by bankruptcy, insolvency, or other Laws affecting
the enforcement of creditors’ rights generally and subject to the applicability of general principles of equity;

 

(iv)        Except
for such filings or other actions that have been made or taken on or prior to the date hereof, no consent, approval or authorization
of, or registration, declaration or filing with, any Governmental Authority or other Person is required as a condition to or in
connection with the due and valid execution, delivery and performance by Borrower of this Note or the other GlassesOff Notes; and

 

(v)         There
are no judgments entered against Borrower, and Borrower is not in default with respect to any judgment, writ, injunction, order,
decree or consent of any court or other judicial authority.

 

7.            Affirmative
Covenants. So long as this Note remains outstanding, Borrower shall:

 

(i)          comply
in all material respects with applicable Laws, such compliance to include, without limitation, paying before the same become delinquent
all taxes, assessments and governmental charges imposed upon it or upon its property, except for good faith contests for which
adequate reserves are maintained or any noncompliance which would not reasonably be expected to have a material adverse effect
on Borrower;

 

(ii)         provide
to Lender, as soon as possible and in any event within five (5) Business Days after the occurrence of each event which is an Event
of Default, a written notice setting forth the details of such event and the action which Borrower proposes to take with respect
thereto; and

 

(iii)        maintain
its corporate existence in compliance with all applicable Laws, except to the extent that any failure to comply with the foregoing
would not reasonably be expected to have a material adverse effect on Borrower.

 

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8.            Events
of Default. The occurrence of any of the following events shall constitute an “Event of Default” under this
Note: 

 

(i)          Failure
by Borrower to pay when due an installment of principal, interest or other amount owing under this Note or any other GlasssesOff
Note on or before the date such payment is due, and such failure continues for five (5) consecutive Business Days;

 

(ii)         Borrower
fails to comply with or perform any other term, obligation, covenant or condition contained in this Note and which failure shall
continue for ten (10) consecutive days following written notice of such default by Lender to Borrower;

 

(iii)        Any
representation or warranty made by Borrower in this Note shall prove to have been incorrect in any material respect when made and
which would reasonably be expected to impair the enforceability of this Note by Lender against Borrower;

 

(iv)        Borrower
or any Subsidiary of Borrower shall (a) commence a voluntary case under any applicable bankruptcy, insolvency or other similar
Law now or hereafter in effect; (b) consent to the entry of an order for such relief in an involuntary case under any applicable
bankruptcy, insolvency or other similar Law now or hereafter in effect; (c) consent to the appointment of or taking possession
by a receiver, liquidator, assignee, trustee, custodian, sequestrator or other similar official for Borrower or such Subsidiary
or for all or substantially all of Borrower’s or such Subsidiary’s assets; or (d) make any general assignment
for the benefit of creditors; or

 

(v)         An
involuntary case or other proceeding shall be commenced against Borrower or any Subsidiary of Borrower under any applicable bankruptcy,
insolvency or other similar Law now or hereafter in effect, and such involuntary case shall remain undismissed or unstayed for
a period of 60 day.

 

9.            Remedies.
Upon the occurrence of an Event of Default, all amounts due hereunder, including, without limitation, the unpaid principal balance
and accrued and unpaid interest thereon, shall, at Lender’s written election, become immediately due and payable upon written
notice to Borrower (an “Acceleration Notice”); provided, however, that upon the occurrence of
an Event of Default described in Section ‎8(iv) or Section ‎8(v), all amounts due hereunder, including, without
limitation, the unpaid principal balance and accrued and unpaid interest thereon, shall become immediately due and payable automatically
and without any Acceleration Notice or demand by Lender. Upon the occurrence of an Event of Default, Lender may additionally exercise
any of its other rights and remedies granted hereunder or under applicable Law. Such remedies shall be cumulative and concurrent
and may be pursued singly, successively or together, at Lender’s option, and as often as the occasion therefore arises.

 

10.          Collection
Costs. Borrower shall pay all reasonable costs and expenses of the collection of this Note (including, without limitation,
all reasonable and documented fees and expenses of Lender’s attorneys) paid or incurred by Lender and irrespective of whether
an Action has been commenced against Borrower.

 

11.          Lost, Stolen, Destroyed or Mutilated Note. Upon receipt of evidence reasonably satisfactory to Borrower of
the loss, theft, destruction or mutilation of this Note, Borrower will issue a new Note of like tenor and amount and dated
the date to which interest has been paid, in lieu of such lost, stolen, destroyed or mutilated Note, and in such event Lender
agrees to indemnify and hold Borrower harmless in respect of any such lost, stolen, destroyed or mutilated Note.

 

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12.         Notices.
All notices, requests and other communications to any party hereunder shall be in writing (including facsimile or similar writing)
and shall be given to such party at such party’s address or facsimile number set forth in the Purchase Agreement, or such
other address or facsimile number as such party may hereinafter specify for the purpose of this Section ‎12 to the party
giving such notice. All notices, requests and other communications shall be deemed received on the date of receipt by the recipient
thereof if received prior to 5:00 p.m. in the place of receipt and such day is a Business Day in the place of receipt. Otherwise,
any such notice, request or communication shall be deemed not to have been received until the next succeeding Business Day in the
place of receipt. Any notice, request or other written communication sent by facsimile transmission shall be confirmed by certified
mail, return receipt requested, posted on the same Business Day, or by personal delivery, whether courier or otherwise, made on
the same Business Day as such facsimile transmissions

 

13.         Certain
Definitions. As used in this Note:

 

(a)          “Acceleration
Notice” has the meaning set forth in Section 9.

 

(b)         “Action”
means any claim, action, cause of action or suit (whether in contract, tort or otherwise), litigation (whether at law or in equity,
whether civil or criminal), controversy, assessment, arbitration, investigation, hearing, charge, complaint, demand, notice or
proceeding to, from, by or before any Governmental Authority.

 

(c)         “Affiliate”
means with respect to any Person, any other Person, directly or indirectly, through one or more intermediaries, controlling, controlled
by, or under common control with such Person, including, without limitation, (i) in respect of any Person which is a limited or
general partnership, its partners, affiliated partnerships managed by the same management company or managing (general) partner
or by an entity which controls, is controlled by, or is under common control with, such management company or managing (general)
partner; (ii) in respect of any Person which is a limited liability company, its members, affiliated limited liability companies
managed by the same management company or managing (general) partner or officer or board of directors or by an entity which controls,
is controlled by, or is under common control with, such management company or managing (general) partner or officer or board of
directors; and (iii) the beneficiaries of any Person which is a trust.

 

(d)         “Applicable
Rate” has the meaning set forth in Section ‎1(b).

 

(e)         “Board
of Directors” means the Board of Directors of Borrower.

 

(f)          “Borrower”
has the meaning set forth in the Recitals.

 

(g)         “Business
Day” means a day (other than a Saturday) on which banks are open for business in New York, NY and Tel Aviv, Israel.

 

(h)         “Common
Stock” has the meaning set forth in Section 5(a).

 

(i)          “Contractual
Obligation” means, with respect to any Person, any contract, agreement, deed, mortgage, lease, license, commitment, promise,
undertaking, arrangement, performance bond, warranty obligation or understanding, whether written or oral and whether express or
implied, or other document or instrument (including any document or instrument evidencing or otherwise relating to any Debt), to
which or by which such Person is a party or otherwise subject or bound or to which or by which any property, business, operation
or right of such Person is subject or bound.

 

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(j)          “Conversion
Date” means, (i) in the case of conversion pursuant to Section 5(b) the date immediately following the 90th
day on which the on which the closing price of the Common Stock on the Trading Market exceeded 500% of the Conversion Price during
the applicable 120 consecutive Trading Day Period, (ii) in the case of conversion pursuant to Section 5(c), the date on
which Borrower consummates the Qualified Financing (or, in the case of a Qualified Financing involving multiple closings, the closing
at which aggregate gross proceeds to Borrower in such Qualified Financing exceed $2,500,000) and (iii) in the case of conversion
pursuant to Section 5(d), the date on which Borrower delivers the Conversion Notice to Borrower.

 

(k)         “Conversion
Notice” has the meaning set forth in Section 5(d).

 

(l)          “Conversion
Price” means $2.19, subject to adjustment as provided in Section 5(h).

 

(m)        “Conversion
Rate” means, as of any date, $1,000 divided by the Conversion Price as of such date.

 

(n)         “Debt”
means, with respect to any Person, all obligations (including all obligations in respect of principal, accrued interest, penalties,
fees and premiums) of such Person, whether direct or indirect, (a) for borrowed money (including overdraft facilities), (b) for
Liabilities secured by any Encumbrance existing on property owned or acquired and subject thereto, (c) evidenced by notes, bonds,
debentures or similar Contractual Obligations, (d) for the deferred purchase price of property, goods or services, including in
connection with the acquisition of any business or non-competition agreement (other than trade payables or accruals incurred in
the Ordinary Course of Business), (e) under capital leases (in accordance with GAAP), (f) in respect of letters of credit and bankers’
acceptances, (g) for Contractual Obligations relating to interest rate protection, swap agreements, factoring, hedging and collar
agreements, (h) in the nature of premiums (prepayment or otherwise) or penalties in connection with the obligations described in
clauses (a) through (g) above, and (h) in the nature of Guarantees of the obligations described in clauses (a) through (g) above
of any other Person.

 

(o)         “Dollars”,
“dollars” and “$” refer to U.S. Dollars.

 

(p)         “Encumbrance”
means any charge, lien pledge, security interest, mortgage and any other restriction or covenant with respect to transferability.

 

(q)         “GlassesOff
Notes” has the meaning set forth in the Recitals.

 

(r)          “Equity
Interests” means Borrower’s currently or hereafter authorized capital stock, including, but not limited to, the
Common Stock and any preferred stock, and all warrants, options or other convertible securities or rights to acquire Borrower’s
authorized capital stock.

 

(s)         “Event
of Default” has the meaning set forth in Section 8.

 

(t)          “GAAP”
means generally accepted accounting principles in the United States, consistently applied.

 

 

 

 

 

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(u)         “Governmental
Authority” means any nation or country (including but not limited to the United States and the State of Israel) and any
state, commonwealth, territory or possession thereof and any political subdivision of any of the foregoing, including but not limited
to courts, departments, commissions, boards, bureaus, agencies, ministries or other instrumentalities.

 

(v)         “Guarantee”
means, with respect to any Person, (a) any guarantee of the payment or performance of, or any contingent obligation in respect
of, any Debt or other Liability of any other Person; (b) any other arrangement whereby credit is extended to any obligor (other
than such Person) on the basis of any promise or undertaking of such Person (i) to pay the Debt or other Liability of such obligor,
(ii) to purchase any obligation owed by such obligor, (iii) to purchase or lease assets under circumstances that are designed to
enable such obligor to discharge one or more of its obligations or (iv) to maintain the capital, working capital, solvency or general
financial condition of such obligor; and (c) any liability as a general partner of a partnership or as a venturer in a joint venture
in respect of Debt or other obligations of such partnership or venture.

 

(w)        “Holder”
means a Person holding any GlassesOff Notes, including, for the avoidance of doubt, Lender.

 

(x)          “Laws”
means any and all laws (statutory, judicial or otherwise), ordinances, regulations, judgments, orders, directives, injunctions,
writs, decrees or awards of any Governmental Authority.

 

(y)         “Lender”
has the meaning set forth in the Preamble.

 

(z)          “Maturity
Date” has the meaning set forth in Section 2.

 

(aa)       “Ordinary
Course of Business” means an action taken by any Person in the ordinary course of such Person’s business which
is consistent with the past customs and practices of such Person (including past practice with respect to quantity, amount, magnitude
and frequency, standard employment and payroll policies and past practice with respect to management of working capital) which
is taken in the ordinary course of the normal day-to-day operations of such Person and does not require the consent of the shareholders
or board of directors of such Person.

 

(bb)       “Organic
Change” means any capital reorganization, reclassification, recapitalization, consolidation, merger, sale of all or substantially
all of Borrower’s assets or other similar transaction.

 

(cc)        “Person”
means any individual, partnership, joint venture, firm, corporation, association, limited liability company, joint stock company,
unincorporated organization, trust or other enterprise or any governmental or political subdivision or any agency, department or
instrumentality thereof.

 

(dd)       “Purchase
Agreement” has the meaning set forth in the Recitals.

 

(ee)        “Qualified
Financing” means any public or private issuance and sale by Borrower of its Equity Interests (whether in a single transaction
or in a series of related transactions, provided that such series of related transactions consummates within a single, 60-day period),
which provides gross cash proceeds (before deduction of any underwriters’ or placement agents’ discounts or commissions,
and, for the avoidance of doubt, excluding any GlassesOff Notes that convert into such financing) to Borrower of not less than
$2,500,000.

 

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(ff)         “Qualified
Financing Purchase Price” means the per-share or per-unit offering price to the investors in the Qualified Financing
of the Equity Interests offered in such Qualified Financing, before deduction of any underwriters’ or placement agents’
discounts or commissions.

 

(gg)        “Redemption
Date” has the meaning set forth in Section 4.

 

(hh)       “Redemption
Notice” has the meaning set forth in Section 4.

 

(ii)         “Redemption
Price” means, for each $1,000 principal amount of GlassesOff Notes, an amount in cash, in immediately available funds,
equal to the sum of 100% of such principal amount, plus accrued and unpaid interest thereon to, but not including, the Redemption
Date.

 

(jj)         “Redemption
Right” has the meaning set forth in Section 4.

 

(kk)       “Subsidiary”
means, with respect to any specified Person, any other Person of which such specified Person will, at the time, directly or indirectly
through one or more Subsidiaries, (a) own at least 50% of the outstanding capital stock (or other shares of beneficial interest)
entitled to vote generally, (b) hold at least 50% of the partnership, limited liability company, joint venture or similar interests
or (c) be a general partner, managing member or joint venturer.

 

14.         Miscellaneous.

 

(i)          This
Note may be amended or modified only by an instrument in writing signed by Borrower and Holders holding at least 51% of the outstanding
aggregate principal amount of the GlassesOff Notes; provided, however, that, without the consent of Lender, no amendment,
supplement or waiver may (1) change the Maturity Date of the principal of, or any installment of interest on, this Note; (2) reduce
the principal amount of, or interest on, this Note; (3) change the currency of payment of principal of, or interest on, this
Note; (4) impair the right to institute suit for the enforcement of any payment on or after the Maturity Date (or, in the case
of a redemption, on or after the Redemption Date) of this Note; (5) waive a default in the payment of principal of, or interest
on the this Note; (6) subordinates this Note in right of payment to any other Debt of Borrower; or (7) reduce the percentage or
aggregate principal amount of outstanding GlassesOff Notes the consent of whose Holders is necessary for waiver of compliance with,
or amendment to, the provisions of this Note.

 

(ii)         This
Note shall be binding upon and inure to the benefit of and be enforceable by the respective successors and permitted assigns of
the parties hereto; provided, however, that the Borrower may not assign or transfer any of its rights or obligations
hereunder without the prior written consent of Lender. Subject to the terms and conditions of the Purchase Agreement, including,
without limitation, the restrictions on transfer of this Note contained therein, Lender may at any time, upon five (5) days’
prior written notice to Borrower, assign all or any portion of its rights hereunder to an Affiliate without Borrower’s consent.

 

(iii)        No
delay or omission on the part of Lender in the exercise of any right or remedy hereunder shall operate as a waiver thereof, and
no partial exercise of any right or remedy precludes any other or further exercise thereof or the exercise of any other rights
or remedies.

 

(iv)        If
any provision of this Note is held to be invalid and unenforceable in any jurisdiction, then, to the fullest extent permitted by
Law, (i) the other provisions hereof shall remain in full force and effect in such jurisdiction, and (ii) the invalidity or unenforceability
of any provision hereof in any jurisdiction shall not affect the validity or enforceability of such provision in any other jurisdiction.

 

     -10-

     

    

 

(v)         Borrower
hereby waives presentment, demand for payment (except as expressly required herein), protest, notice of protest, notice of dishonor
and any and all other notices or demands in connection with the delivery, acceptance, performance, default or enforcement of this
Note.

 

(vi)        THIS
NOTE SHALL BE GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE STATE OF NEW YORK without
giving effect to any choice or conflict of law provision or rule that would cause the application of the laws of any other jurisdiction.
BORROWER AND LENDER HEREBY IRREVOCABLY SUBMIT TO THE EXCLUSIVE JURISDICTION OF THE STATE AND FEDERAL COURTS SITTING IN THE CITY
OF NEW YORK, BOROUGH OF MANHATTAN FOR THE ADJUDICATION OF ANY DISPUTE BROUGHT BY BORROWER OR LENDER HEREUNDER, IN CONNECTION HEREWITH
OR WITH ANY TRANSACTION CONTEMPLATED HEREBY OR DISCUSSED HEREIN, AND HEREBY IRREVOCABLY WAIVE, AND AGREE NOT TO ASSERT IN ANY SUIT,
ACTION OR PROCEEDING BROUGHT BY BORROWER OR LENDER, ANY CLAIM THAT IT IS NOT PERSONALLY SUBJECT TO THE JURISDICTION OF ANY SUCH
COURT, OR THAT SUCH SUIT, ACTION OR PROCEEDING IS IMPROPER. EACH PARTY HEREBY IRREVOCABLY WAIVES PERSONAL SERVICE OF PROCESS AND
CONSENTS TO PROCESS BEING SERVED IN ANY SUCH SUIT, ACTION OR PROCEEDING BY MAILING A COPY THEREOF VIA REGISTERED OR CERTIFIED MAIL
OR OVERNIGHT DELIVERY (WITH EVIDENCE OF DELIVERY) TO SUCH PARTY AT THE ADDRESS IN EFFECT FOR NOTICES TO IT UNDER THE PURCHASE AGREEMENT
AND AGREES THAT SUCH SERVICE SHALL CONSTITUTE GOOD AND SUFFICIENT SERVICE OF PROCESS AND NOTICE THEREOF. NOTHING CONTAINED HEREIN
SHALL BE DEEMED TO LIMIT IN ANY WAY ANY RIGHT TO SERVE PROCESS IN ANY MANNER PERMITTED BY LAW. BORROWER AND LENDER HEREBY WAIVE
ALL RIGHTS TO A TRIAL BY JURY.

 

[signature page follows]

 

     -11-

     

    

 

IN WITNESS WHEREOF,
the undersigned has executed and delivered this Note as of the date first above written. 

 

	 	GLASSESOFF INC.	 
	 	 	 
	 	By:	 	 
	 	Name:	 	 
	 	Title:	 	 

 

	Acknowledged and agreed by Lender as of the

date first set forth above:	 
	 	 
	[_______________________]	 

 

	By:	 	 
	Name:	 	 
	Title:	 	 

 

Payment Instructions for Lender:

 

If by wire:

 

	Bank:	[______________________]
	ABA#:	[______________________]
	Account #	[______________________]
	Beneficiary:	[______________________]

 

[Signature page to GlassesOff Inc. 8.0%
Senior Convertible Promissory Note]Exhibit 4.2

 

Warrant Certificate No.
___

 

NEITHER THIS WARRANT NOR THE SECURITIES
ISSUABLE UPON EXERCISE OF THIS WARRANT HAVE BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE “ACT”),
OR ANY STATE SECURITIES LAWS, AND NO SUCH SECURITIES NOR ANY INTEREST THEREIN MAY BE OFFERED, SOLD, ASSIGNED OR OTHERWISE TRANSFERRED
UNLESS (1) A REGISTRATION STATEMENT WITH RESPECT THERETO IS EFFECTIVE UNDER THE ACT AND ALL APPLICABLE STATE SECURITIES LAWS OR
(2) AN EXEMPTION FROM SUCH REGISTRATION EXISTS AND THE COMPANY RECEIVES AN OPINION OF COUNSEL TO THE HOLDER OF SUCH SECURITIES,
WHICH COUNSEL AND OPINION ARE SATISFACTORY TO THE COMPANY, THAT SUCH SECURITIES MAY BE OFFERED, SOLD, PLEDGED, ASSIGNED OR TRANSFERRED
IN THE MANNER CONTEMPLATED WITHOUT AN EFFECTIVE REGISTRATION STATEMENT UNDER THE ACT OR APPLICABLE STATE SECURITIES LAWS. ADDITIONALLY,
NEITHER THIS WARRANT NOR THE SECURITIES ISSUABLE UPON EXERCISE OF THIS WARRANT MAY BE OFFERED OR SOLD WITHIN THE UNITED STATES
OR TO, OR FOR THE ACCOUNT OR BENEFIT OF, U.S. PERSONS (I) AS PART OF THEIR DISTRIBUTION AT ANY TIME OR (II) OTHERWISE UNTIL SIX
MONTHS AFTER THE LATER OF THE COMMENCEMENT OF THE OFFERING THEREOF AND THE CLOSING DATE, EXCEPT IN EITHER CASE IN ACCORDANCE WITH
REGULATION S UNDER THE SECURITIES ACT. NO HEDGING TRANSACTION CAN BE CONDUCTED WITH REGARD TO THE SECURITIES EXCEPT AS PERMITTED
BY THE SECURITIES ACT. TERMS USED ABOVE HAVE THE MEANINGS GIVEN TO THEM BY REGULATION S PROMULGATED UNDER THE SECURITIES ACT.

 

	Effective Date: September 21, 2015	Void After: September 20, 2020

 

GLASSESOFF INC.

 

WARRANT TO PURCHASE COMMON STOCK

 

GlassesOff
Inc., a Nevada corporation (the “Company”), for value received on September 21, 2015 (the
“Effective Date”), hereby issues to [_______] (the “Holder”) this Warrant (this
“Warrant”) to purchase, [_______] shares (each such share as from time to time adjusted as hereinafter
provided being a “Warrant Share” and all such shares being the “Warrant Shares”) of the
Company’s common stock, par value $0.001 per share (“Common Stock”), at $2.19 per share, as adjusted
from time to time as provided herein (the “Exercise Price”), on or before September  20, 2020 (the
“Expiration Date”), all subject to the following terms and conditions.

 

This Warrant is one
of a series of warrants of like tenor that have been issued in connection with the Company’s private offering solely to accredited
investors in accordance with, and subject to, the terms and conditions described in, that certain Securities Purchase and Registration
Rights Agreement, dated September 17, 2015, as the same may be amended and supplemented from time to time in accordance with the
terms thereof (the “Purchase Agreement”). Capitalized terms used in this Warrant but not defined herein shall
have the respective meanings ascribed thereto in the Purchase Agreement.

 

As used in this Warrant:
(i) “Affiliate” means any person that, directly or indirectly, through one or more intermediaries, controls,
is controlled by, or is under common control with, a person, as such terms are used and construed in Rule 144 promulgated under
the Securities Act of 1933, as amended (the “Securities Act”); (ii) “Business Day” means
any day other than Saturday, Sunday or any other day on which commercial banks in the City of New York, New York, are authorized
or required by law or executive order to close; (iii) “Exercise Period” means the period commencing on the date
hereof and ending at 5:00 P.M., New York City time, on the Expiration Date, unless sooner terminated as provided herein; (iv) “Trading
Day” means any day on which the Common Stock is quoted or traded (or available for trading) on its principal trading
market, including, but not limited to, on the OTCBB; and (v) “Warrant Holders” means the holders of Warrants
issued pursuant to the Purchase Agreement.

 

     

     

    

 

		1.	EXERCISE OF WARRANTS

 

(a)          Exercise
Procedures. The rights represented by this Warrant may be exercised by the Holder in whole or in part at any time during the
Exercise Period pursuant to the procedures set forth in Section 1(a)(i) or, to the extent applicable, Section 1(a)(ii):

 

(i)          If
the Holder desires to effect a cash exercise of this Warrant, the Holder must:

 

		(A)	deliver to the Company a duly executed Notice of Exercise attached as Exhibit A (the “Notice
of Exercise”);

 

		(B)	surrender this Warrant to the Secretary of the Company at its principal office or at such other
office or agency as the Company may specify in writing to the Holder; and

 

		(C)	pay the then-applicable Exercise Price per share multiplied by the number of Warrant Shares being
purchased upon exercise of the Warrant (such amount, the “Aggregate Exercise Price”) either (i) in cash
or by wire transfer of immediately available funds to an account specified in writing by the Company or (ii) pursuant to a Cashless
Exercise to the extent permitted by Section 1(a)(ii).

 

(ii)         If,
at any time after the first anniversary of the date hereof, (x) a registration statement covering the resale of the Warrant Shares
by the Holder (a “Resale Registration Statement”) has not been filed with the Securities and Exchange Commission
(the “SEC”) under the Securities Act and declared effective by the SEC, and (y) the fair value per share of
Common Stock is greater than the Exercise Price (at the date of the calculation set forth below), the Holder may, in its sole discretion,
exercise all or any part of the Warrant in a “cashless” or “net-issue” exercise (a “Cashless Exercise”)
by delivering to the Company (1) a duly executed Notice of Exercise and (2) the original Warrant, following which the Holder shall
receive a number of Warrant Shares calculated using the following formula:

 

	X	=	Y * (A - B)
	A

 

	with:	X =	the number of Warrant Shares to be issued to the Holder
	 	 	 
	 	Y =	the number of Warrant Shares with respect to which the Warrant is being exercised
	 	 	 
	 	A =	the fair value per share of Common Stock on the date of exercise of this Warrant
	 	 	 
	 	B =	the then-current Exercise Price of the Warrant

 

     

     

    

 

Solely for the purposes
of this Section 1(a)(ii), “fair value” per share of Common Stock shall mean the average Closing Price (as defined
below) per share of Common Stock for the twenty (20) consecutive trading days immediately preceding the date on which the Notice
of Exercise is deemed to have been delivered to the Company. “Closing Price” means, for any date, the price
determined by the first of the following clauses that applies: (a) if the Common Stock is then listed or quoted on the New York
Stock Exchange, the NYSE MKT, the NASDAQ Global Select Market, the NASDAQ Global Market or the NASDAQ Capital Market or any other
U.S. national securities exchange, the closing price per share of the Common Stock for such date as reported by such applicable
exchange; (b) if prices for the Common Stock are then quoted on the OTCBB or any tier of the OTC Markets, the closing bid price
per share of the Common Stock for such date so quoted; or (c) if prices for the Common Stock are then reported in the “Pink
Sheets” published by the National Quotation Bureau Incorporated (or a similar organization or agency succeeding to its functions
of reporting prices), the most recent closing bid price per share of the Common Stock so reported. If the Common Stock is not publicly
traded as set forth above, the “fair value” per share of Common Stock shall be reasonably and in good faith determined
by the Board of Directors of the Company as of the date which the Notice of Exercise is deemed to have been sent to the Company,
which determination shall be conclusive.

 

Notwithstanding the
foregoing, if a Resale Registration Statement has (x) been declared effective by the SEC and (y) remained effective for a period
of one year following declaration of such effectiveness, then the Cashless Exercise right contained in this Section 1(a)(ii)
shall thereupon terminate.

 

For purposes of Rule
144 promulgated under the Securities Act, it is intended, understood and acknowledged that the Warrant Shares issued in a cashless
exercise transaction shall be deemed to have been acquired by the Holder, and the holding period for such shares shall be deemed
to have commenced, on the date this Warrant was originally issued.

 

(iii)        Upon
the exercise of this Warrant in compliance with the provisions of this Section 1(a), the Company shall promptly issue
and cause to be delivered to the Holder a certificate for the Warrant Shares purchased by the Holder. Each exercise of this Warrant
shall be effective immediately prior to the close of business on the date (the “Date of Exercise”) on which
the Notice of Exercise, the original Warrant and the Aggregate Exercise Price (or notice of a Cashless Exercise in accordance with
Section 1(a)(ii)) (collectively, the “Exercise Delivery Documents”) have been delivered to the Company
by the Holder. On or before the third Business Day following the date on which the Company has received all of the Exercise Delivery
Documents (the “Share Delivery Date”), the Company shall (X) provided that (a) the Company is not at the
time of exercise of this Warrant and has never been a “shell company” (as defined in Rule 405 promulgated under the
Securities Act), (b) the Holder has effected a Cashless Exercise and (c) the Company’s transfer agent (the “Transfer
Agent”) is participating in The Depository Trust Company (“DTC”) Fast Automated Securities Transfer
Program (the conditions contained in the immediately preceding clauses (a), (b) and (c), collectively, the “DTC Conditions”),
upon the request of the Holder, credit such aggregate number of Warrant Shares to which the Holder is entitled pursuant to such
exercise to the Holder’s or its designee’s balance account with DTC through its Deposit Withdrawal At Custodian system,
or (Y) if all of the DTC Conditions are not satisfied, issue and dispatch by overnight courier to the address as specified in the
Notice of Exercise, a certificate, registered in the Company’s share register in the name of the Holder or its designee,
for the number of Warrant Shares to which the Holder is entitled pursuant to such exercise. Upon delivery of the Exercise Delivery
Documents, the Holder shall be deemed for all corporate purposes to have become the holder of record of the Warrant Shares with
respect to which this Warrant has been exercised, irrespective of the date of delivery of the certificates evidencing such Warrant
Shares.

 

(b)          Partial
Exercise. This Warrant shall be exercisable, either in its entirety or, from time to time during the Exercise Period, for part
only of the number of Warrant Shares referenced by this Warrant. If this Warrant is submitted in connection with any exercise pursuant
to Section 1 and the number of Warrant Shares represented by this Warrant submitted for exercise is greater than the
actual number of Warrant Shares being acquired upon such exercise, then the Company shall as soon as practicable and in no event
later than five (5) Business Days after any exercise and at its own expense, issue a new Warrant of like tenor representing the
right to purchase the number of Warrant Shares purchasable immediately prior to such exercise under this Warrant, less the number
of Warrant Shares with respect to which this Warrant is exercised.

 

     

     

    

 

(c)          Disputes.
In the case of a dispute as to the determination of the Exercise Price or the arithmetic calculation of the Warrant Shares, the
Company shall promptly issue to the Holder the number of Warrant Shares that are not disputed and resolve such dispute in accordance
with Section 15.

 

		2.	ISSUANCE OF WARRANT SHARES

 

(a)          The
Company covenants that all Warrant Shares will, upon issuance in accordance with the terms of this Warrant, be (i) duly authorized,
fully paid and non-assessable, and (ii) free from all liens, charges and security interests, with the exception of claims arising
through the acts or omissions of the Holder and except as arising from applicable Federal and state securities laws.

 

(b)          The
Company shall register this Warrant upon records to be maintained by the Company for that purpose in the name of the record Holder
of such Warrant from time to time. The Company may deem and treat the registered Holder of this Warrant as the absolute owner thereof
for the purpose of any exercise thereof, any distribution to the Holder thereof and for all other purposes.

 

(c)          Except
and to the extent as waived or consented to by Warrant Holders holding Warrants representing a least a majority of the number of
shares of Common Stock then subject to outstanding Warrants, the Company will not, by amendment of its articles of incorporation,
by-laws or through any reorganization, transfer of assets, consolidation, merger, dissolution, issue or sale of securities or any
other voluntary action, avoid or seek to avoid the observance or performance of any of the terms to be observed or performed hereunder
by the Company, but will at all times in good faith assist in the carrying out of all the provisions of this Warrant and in the
taking of all action necessary or appropriate in order to protect the rights of the Holder to exercise this Warrant, or against
impairment of such rights.

 

		3.	ADJUSTMENTS OF EXERCISE PRICE, NUMBER AND TYPE OF WARRANT SHARES

 

(a)          The
Exercise Price and the number of Warrant Shares purchasable upon the exercise of this Warrant shall be subject to adjustment from
time to time upon the occurrence of certain events described in this Section 3; provided, that, notwithstanding
the provisions of this Section 3, the Company shall not be required to make any adjustment if and to the extent that
such adjustment would require the Company to issue a number of shares of Common Stock in excess of its authorized but unissued
shares of Common Stock, less all amounts of Common Stock that have been reserved for issue upon the conversion of all outstanding
securities convertible into shares of Common Stock and the exercise of all outstanding options, warrants and other rights exercisable
for shares of Common Stock. If the Company does not have the requisite number of authorized but unissued shares of Common Stock
to make any adjustment, the Company shall use its commercially reasonable efforts to obtain the necessary stockholder consent to
increase the authorized number of shares of Common Stock to make such an adjustment pursuant to this Section 3.

 

(i)          Subdivision
or Combination of Stock. In case the Company shall at any time subdivide (whether by way of stock dividend, stock split or
otherwise) its outstanding shares of Common Stock into a greater number of shares, the Exercise Price in effect immediately prior
to such subdivision shall be proportionately reduced and the number of Warrant Shares shall be proportionately increased, and conversely,
in case the outstanding shares of Common Stock of the Company shall be combined (whether by way of stock combination, reverse stock
split or otherwise) into a lesser number of shares, the Exercise Price in effect immediately prior to such combination shall be
proportionately increased and the number of Warrant Shares shall be proportionately decreased. The Exercise Price and the Warrant
Shares, as so adjusted, shall be readjusted in the same manner upon the happening of any successive event or events described in
this Section 3(a)(i).

 

     

     

    

 

(ii)         Dividends
in Stock, Property, Reclassification. If at any time, or from time to time, all of the holders of Common Stock (or any shares
of stock or other securities at the time receivable upon the exercise of this Warrant) shall have received or become entitled to
receive, without payment therefore:

 

		(A)	any shares of stock or other securities that are at any time directly or indirectly convertible
into or exchangeable for Common Stock, or any rights or options to subscribe for, purchase or otherwise acquire any of the foregoing
by way of dividend or other distribution, or

 

		(B)	additional stock or other securities or property (including cash) by way of spin-off, split-up,
reclassification, combination of shares or similar corporate rearrangement (other than shares of Common Stock issued as a stock
split or adjustments in respect of which shall be covered by the terms of Section 3(a)(i) above), then and in each
such case, the Exercise Price and the number of Warrant Shares to be obtained upon exercise of this Warrant shall be adjusted proportionately,
and the Holder hereof shall, upon the exercise of this Warrant, be entitled to receive, in addition to the number of Warrant Shares
receivable thereupon, and without payment of any additional consideration therefor, the amount of stock and other securities and
property (including cash in the cases referred to above) that such Holder would hold on the date of such exercise had such Holder
been the holder of record of such Warrant Shares as of the date on which holders of Common Stock received or became entitled to
receive such shares or all other additional stock and other securities and property. The Exercise Price and the Warrant Shares,
as so adjusted, shall be readjusted in the same manner upon the happening of any successive event or events described in this Section 3(a)(ii).

 

(iii)        Reorganization,
Reclassification, Consolidation, Merger or Sale. If any recapitalization, reclassification or reorganization of the capital
stock of the Company, or any consolidation or merger of the Company with another corporation, or the sale of all or substantially
all of its assets or other transaction shall be effected in such a way that holders of Common Stock shall be entitled to receive
stock, securities, or other assets or property, other than, for the avoidance of doubt, a transaction for which an adjustment is
made pursuant to Section 3(a)(i) or Section 3(a)(ii) (an “Organic Change”), then, as
a condition of such Organic Change, lawful and adequate provisions shall be made by the Company whereby the Holder hereof shall
thereafter have the right to purchase and receive (in lieu of the Warrant Shares immediately theretofore purchasable and receivable
upon the exercise of the rights represented by this Warrant) such shares of stock, securities or other assets or property as may
be issued or payable with respect to or in exchange for such Warrant Shares equal to the number of shares of such stock immediately
theretofore purchasable and receivable assuming the full exercise of the rights represented by this Warrant. In the event of any
Organic Change, appropriate provision shall be made by the Company with respect to the rights and interests of the Holder of this
Warrant to the end that the provisions hereof (including, without limitation, provisions for adjustments of the Exercise Price
and of the number of shares purchasable and receivable upon the exercise of this Warrant) shall thereafter be applicable, in relation
to any shares of stock, securities or assets thereafter deliverable upon the exercise hereof. The Company will not effect any such
Organic Change unless, prior to the consummation thereof, the successor corporation (if other than the Company) resulting from
such Organic Change or the corporation purchasing such assets shall assume by written instrument the obligation to deliver to such
Holder such shares of stock, securities or assets as, in accordance with the foregoing provisions, such Holder may be entitled
to purchase. If there is an Organic Change, then the Company shall cause to be mailed to the Holder at its last address as it shall
appear on the books and records of the Company, at least 10 calendar days before the effective date of the Organic Change, a notice
stating the date on which such Organic Change is expected to become effective or close, and the date as of which it is expected
that holders of the Common Stock of record shall be entitled to exchange their shares for securities, cash, or other property delivered
upon such Organic Change; provided, that the failure to mail such notice or any defect therein or in the mailing
thereof shall not affect the validity of the corporate action required to be specified in such notice. The Holder is entitled to
exercise this Warrant during the 10-day period commencing on the date of such notice to the effective date of the event triggering
such notice. In any event, the successor corporation (if other than the Company) resulting from such Organic Change or the corporation
purchasing such assets shall be deemed to assume such obligation to deliver to such Holder such shares of stock, securities or
assets even in the absence of a written instrument assuming such obligation to the extent such assumption occurs by operation of
law.

 

     

     

    

 

(b)          Certificate
as to Adjustments. Upon the occurrence of each adjustment or readjustment pursuant to this Section 3, the Company
at its expense shall promptly compute such adjustment or readjustment in accordance with the terms hereof and furnish to the Holder,
at its last address as it shall appear on the books and records of the Company, a notice setting forth (i) such adjustment
or readjustment and showing in detail the facts upon which such adjustment or readjustment is based and (ii) the number of Warrant
Shares and the amount, if any, of other property which at the time would be received upon the exercise of the Warrant.

 

		4.	TRANSFERS AND EXCHANGES OF WARRANT AND WARRANT SHARES

 

(a)          Registration
of Transfers and Exchanges. Subject to Section 4(c), upon the Holder’s surrender of this Warrant, with a
duly executed copy of the Form of Assignment attached as Exhibit B, to the Secretary of the Company at its principal offices
or at such other office or agency as the Company may specify in writing to the Holder, the Company shall register the transfer
of all or any portion of this Warrant. Upon such registration of transfer, the Company shall issue a new Warrant, in substantially
the form of this Warrant, evidencing the acquisition rights transferred to the transferee and a new Warrant, in similar form, evidencing
the remaining acquisition rights not transferred, to the Holder requesting the transfer.

 

(b)          Warrant
Exchangeable for Different Denominations. The Holder may exchange this Warrant for a new Warrant or Warrants, in substantially
the form of this Warrant, evidencing in the aggregate the right to purchase the number of Warrant Shares which may then be purchased
hereunder, each of such new Warrants to be dated the date of such exchange and to represent the right to purchase such number of
Warrant Shares as shall be designated by the Holder. The Holder shall surrender this Warrant with duly executed instructions regarding
such re-certification of this Warrant to the Secretary of the Company at its principal offices or at such other office or agency
as the Company may specify in writing to the Holder.

 

(c)          Restrictions
on Transfers. This Warrant may not be transferred at any time without (i) registration under the Securities Act or (ii) an
exemption from such registration and a written opinion of legal counsel addressed to the Company that the proposed transfer of
the Warrant may be effected without registration under the Securities Act, which opinion shall be in form and substance and from
counsel reasonably satisfactory to the Company.

 

     

     

    

 

(d)          Permitted
Transfers and Assignments. Notwithstanding any provision to the contrary in this Section 4, the Holder may transfer,
with or without consideration, this Warrant or any of the Warrant Shares (or a portion thereof) to the Holder’s Affiliates
(as such term is defined under Rule 144 of the Securities Act) without obtaining the opinion from counsel that may be required
by Section 4(c); provided, that the Holder delivers to the Company and its counsel certification, documentation,
and other assurances reasonably required by the Company’s counsel to enable the Company’s counsel to render an opinion
to the Company’s Transfer Agent that such transfer does not violate applicable securities laws.

 

		5.	MUTILATED OR MISSING WARRANT CERTIFICATE

 

If this Warrant is
mutilated, lost, stolen or destroyed, upon request by the Holder, the Company will, at its expense, issue, in exchange for and
upon cancellation of the mutilated Warrant, or in substitution for the lost, stolen or destroyed Warrant, a new Warrant, in substantially
the form of this Warrant, representing the right to acquire the equivalent number of Warrant Shares; provided, that,
as a prerequisite to the issuance of a substitute Warrant, the Company may require satisfactory evidence of loss, theft or destruction
as well as an indemnity from the Holder of a lost, stolen or destroyed Warrant.

 

		6.	PAYMENT OF TAXES

 

The Company will pay
all transfer and stock issuance taxes attributable to the preparation, issuance and delivery of this Warrant and the Warrant Shares
(and replacement Warrants) including, without limitation, all documentary and stamp taxes; provided, however, that
the Company shall not be required to pay any tax in respect of the transfer of this Warrant, or the issuance or delivery of certificates
for Warrant Shares or other securities in respect of the Warrant Shares to any person or entity other than to the Holder.

 

		7.	FRACTIONAL WARRANT SHARES

 

No fractional Warrant
Shares shall be issued upon exercise of this Warrant. The Company, in lieu of issuing any fractional Warrant Share, shall round
up the number of Warrant Shares issuable to nearest whole share.

 

		8.	NO STOCK RIGHTS AND LEGEND

 

No holder of this Warrant,
as such, shall be entitled to vote or be deemed the holder of any other securities of the Company, including, but not limited to,
the Warrant Shares, that may at any time be issuable on the exercise hereof, nor shall anything contained herein be construed to
confer upon the holder of this Warrant, as such, the rights of a stockholder of the Company or the right to vote for the election
of directors or upon any matter submitted to stockholders at any meeting thereof, or give or withhold consent to any corporate
action or to receive notice of meetings or other actions affecting stockholders, or to receive dividends or subscription rights
or otherwise (except as provide herein).

 

Each certificate for
Warrant Shares initially issued upon the exercise of this Warrant, and each certificate for Warrant Shares issued to any subsequent
transferee of any such certificate, shall be stamped or otherwise imprinted with a legend in substantially the following form:

 

     

     

    

 

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

 

		9.	REGISTRATION RIGHTS

 

The Holder shall be
entitled to the registration rights as are contained in the Registration Rights Agreement of even date herewith, by and among the
Company, the Holder and the other subscribers of the Company’s securities pursuant to the Purchase Agreement, the provisions
of which are deemed incorporated herein by reference.

 

		10.	NOTICES

 

All notices, consents,
waivers, and other communications under this Warrant must be in writing and will be deemed given to a party (a) when delivered
to the appropriate address by hand or by nationally recognized overnight courier service (costs prepaid); (b) when sent by facsimile
or e-mail with confirmation of transmission by the transmitting equipment; (c) when received or rejected by the addressee, if sent
by certified mail, return receipt requested, if to the registered Holder hereof; (d) on the Business Day after being deposited
for overnight delivery by a nationally recognized courier service; or (e) seven days after the placement of the notice into the
mails (first class postage prepaid), to the Holder at the address, facsimile number, or e-mail address furnished by the registered
Holder to the Company in accordance with the Purchase Agreement by and between the Company and the Holder, or if to the Company,
to it at 5 Jabotinski St. POB 12, Ramat Gan 5252006, Israel, Attn: Nimrod Madar.

 

		11.	SEVERABILITY

 

If a court of competent
jurisdiction holds any provision of this Warrant invalid or unenforceable, the other provisions of this Warrant will remain in
full force and effect. Any provision of this Warrant held invalid or unenforceable only in part or degree will remain in full force
and effect to the extent not held invalid or unenforceable.

 

		12.	BINDING EFFECT

 

This Warrant shall
be binding upon and inure to the sole and exclusive benefit of the Company, its successors and assigns, and the registered Holder
or Holders from time to time of this Warrant.

 

     

     

    

 

		13.	SURVIVAL OF RIGHTS AND DUTIES

 

This Warrant shall
terminate and be of no further force and effect on the earlier of 5:00 P.M., Eastern Time, on the Expiration Date or the date on
which this Warrant has been exercised in full.

 

		14.	GOVERNING LAW

 

This Warrant will be
governed by and construed under the laws of the State of New York without giving effect to the conflict of law provisions of such
State that would cause the law of another jurisdiction to apply.

 

		15.	DISPUTE RESOLUTION

 

In the case of a dispute
as to the determination of the Exercise Price or the arithmetic calculation of the Warrant Shares, the Company shall submit the
disputed determinations or arithmetic calculations via facsimile within four (4) Business Days of receipt of the Notice of Exercise
giving rise to such dispute, as the case may be, to the Holder. If the Holder and the Company are unable to agree upon such determination
or calculation of the Exercise Price or the Warrant Shares within three (3) Business Days of such disputed determination or arithmetic
calculation being submitted to the Holder, then the Company shall, within four (4) Business Days, submit via facsimile the disputed
determination of the Exercise Price to (a) an independent, reputable investment bank selected in good faith by the Company’s
Board of Directors or (b) the Company’s independent, outside accountant. The Company shall cause at its expense the investment
bank or the accountant, as the case may be, to perform the determinations or calculations and notify the Company and the Holder
of the results no later than ten (10) Business Days from the time the investment bank or the accountant, as applicable, receives
the disputed determinations or calculations. Such investment bank’s or accountant’s determination or calculation, as
the case may be, shall be binding upon all parties absent fraud.

 

		16.	RESERVATION OF SHARES

 

The Company shall reserve
and keep available out of its authorized but unissued shares of Common Stock for issuance upon the exercise of this Warrant, free
from pre-emptive rights, such number of shares of Common Stock for which this Warrant shall from time to time be exercisable. The
Company will take all such reasonable action as may be necessary to assure that such Warrant Shares may be issued as provided herein
without violation of any applicable law or regulation. Without limiting the generality of the foregoing, the Company covenants
that it will use commercially reasonable efforts to take all such action as may be necessary or appropriate in order that the Company
may validly and legally issue fully paid and nonassessable Warrant Shares upon the exercise of this Warrant and use commercially
reasonable efforts to obtain all such authorizations, exemptions or consents, including but not limited to consents from the Company’s
stockholders or Board of Directors or any public regulatory body, as may be necessary to enable the Company to perform its obligations
under this Warrant.

 

		17.	NO THIRD PARTY RIGHTS

 

This Warrant is not
intended, and will not be construed, to create any rights in any parties other than the Company and the Holder, and no person or
entity may assert any rights as third- party beneficiary hereunder.

 

[SIGNATURE PAGE FOLLOWS]

 

     

     

    

 

IN WITNESS WHEREOF,
the Company has caused this Warrant to be duly executed as of the date first set forth above.

 

	 	GLASSESOFF INC.
	 	 	 
	 	By: 	 
	 	Name: Nimrod Madar
	 	Title:   President and Chief Executive Officer

 

     

     

    

 

EXHIBIT A NOTICE OF EXERCISE

 

(To be executed by the Holder of Warrant
if such Holder desires to exercise Warrant)

 

To GlassesOff Inc.:

 

The undersigned hereby irrevocably elects
to exercise this Warrant as set forth below (check the box that applies):

 

 ̈          The
undersigned hereby irrevocably elects to purchase __________ Warrant Shares in accordance with Section 1(a)(i) of the attached
Warrant and tenders herewith payment of the exercise price in full, in an amount in cash equal to $______________, which amount
includes any applicable taxes payable by the undersigned pursuant to the Warrant; OR

 

 ̈          The
undersigned hereby irrevocably elects to purchase __________ Warrant Shares pursuant to a Cashless Exercise in accordance with
Section 1(a)(ii) of the Warrant, and tenders herewith payment in cash for all applicable taxes payable by the undersigned
pursuant to the Warrant.

 

The undersigned requests that certificates
for such Warrant Shares be issued in the name of:

 

	Name	 
	 	 
	Social Security or Federal Employer Identification Number (if applicable)	 
	 	 
	Address	 
	 	 
	 	 
	 	 

 

If the Warrant Shares
issuable upon this exercise of the Warrant are not all of the Warrant Shares which the Holder is entitled to acquire upon the exercise
of the Warrant, the undersigned requests that a new Warrant evidencing the rights not so exercised be issued in the name of and
delivered to:

 

	Name	 
	 	 
	Social Security or Federal Employer Identification Number (if applicable)	 
	 	 
	Address	 
	 	 
	 	 
	 	 

 

	 	Name of Holder (print): ___________________________
	 	(Signature): ____________________________________
	 	(By:) _________________________________________
	 	(Title:) ________________________________________
	 	Dated: ________________________________________

 

     

     

    

 

EXHIBIT B

 

FORM OF ASSIGNMENT

 

FOR VALUE RECEIVED, ___________________________________
hereby sells, assigns and transfers to each assignee set forth below all of the rights of the undersigned under the Warrant (as
defined in and evidenced by the attached Warrant) to acquire the number of Warrant Shares set opposite the name of such assignee
below and in and to the foregoing Warrant with respect to said acquisition rights and the shares issuable upon exercise of the
Warrant:

 

	Name of Assignee	 	Address	 	Number of Shares
	 	 	 	 	 
	 	 	 	 	 
	 	 	 	 	 
	 	 	 	 	 

 

If the total of the
Warrant Shares are not all of the Warrant Shares evidenced by the foregoing Warrant, the undersigned requests that a new Warrant
evidencing the right to acquire the Warrant Shares not so assigned be issued in the name of and delivered to the undersigned.

 

	 	Name of Holder (print): ___________________________
	 	(Signature): ____________________________________
	 	(By:) _________________________________________
	 	(Title:) ________________________________________

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