Document:

Exhibit 4.3

 

AMENDED AND RESTATED INVESTORS' RIGHTS
AGREEMENT

 

THIS AMENDED AND RESTATED
INVESTORS' RIGHTS AGREEMENT is made as of the [●] day of June, 2021 by and among monday.com Ltd., an Israeli company (the "Company"),
the founders of the Company listed in Schedule A hereto (the "Founders"), each of the holders of the Series A
Preferred Shares, of no par value , of the Company (the "Preferred A Shares"), listed in Schedule B hereto
(the "Preferred A Investors"), each of the holders of Series B Preferred Shares, Series B-1 Preferred Shares and Series
B-2 Preferred Shares, each of no par value, of the Company, as applicable (collectively, the "Preferred B Shares"), listed
in Schedule C hereto (collectively, the "Preferred B Investors"), each of the holders of Series C Preferred Shares,
of no par value, of the Company (the "Preferred C Shares"), listed in Schedule D hereto (the "Preferred
C Investors"), each of the holders of Series D Preferred Shares, of no par value, of the Company (the "Preferred D Shares"),
listed in Schedule E hereto (the "Preferred D Investors"), each of the holders of Series E Preferred Shares, of
no par value, of the Company (the "Preferred E Shares"), listed in Schedule F hereto (the "Preferred E
Investors" and, collectively with the Preferred A Investors, the Preferred B Investors, the Preferred C Investors and the Preferred
D Investors, the "Preferred Investors") and the investors listed in Schedule G hereto (the "Private Placement
Investors" and, collectively with the Preferred Investors, the "Investors").

 

W I T N E S S E T H:

 

WHEREAS, certain of the Preferred
Investors, the Founders and the Company are parties to that certain Amended and Restated Investors’ Rights Agreement, dated June
21, 2019, as amended by the Amendment to the Amended and Restated Investors’ Rights Agreement, dated as of April 27, 2021 (collectively,
the "Prior Agreement");

 

WHEREAS, the Prior Agreement
may be amended, and any provision therein waived, with the consent of the Company and the Holders of at least 60% of the Preferred Registrable
Securities (as such terms are defined under the Prior Agreement) (the "Requisite Parties");

 

WHEREAS, the Requisite Parties
desire to terminate the Prior Agreement and to accept the rights created pursuant hereto in lieu of the rights granted to them under the
Prior Agreement; and

 

WHEREAS, the Private Placement
Investors are parties to the Share Purchase Agreements, dated as of June 1, 2021 (the "Private Placement Agreements"),
by and among the Company and such Private Placement Investors, which provide that as a condition to the closing of the sale of the Shares
(as defined therein), this Agreement must be executed and delivered by the Private Placement Investors and at least the Requisite Parties.

 

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NOW, THEREFORE, in consideration
of the mutual promises and covenants set forth herein, the parties hereto agree that the Prior Agreement shall be superseded and replaced
in its entirety by this Agreement, and further agree as follows:

 

1.            
Registration Rights. The Company covenants and agrees as follows:

 

1.1          
Definitions. For purposes of this Section 1 :

 

(a)             
The term "Act" means the Securities Act of 1933, as amended.

 

(b)             
The term "Form F-3" means such form under the Act as in effect on the date hereof or any registration
form under the Act subsequently adopted by the SEC that permits inclusion or incorporation of substantial information by reference to
other documents filed by the Company with the SEC, including Form S-3.

 

(c)             
[Reserved].

 

(d)             
The term "Founder Registrable Securities" means (i) the Ordinary Shares outstanding and held by each Founder
as of the date hereof, (ii) any Ordinary Shares of the Company issued as (or issuable upon the conversion or exercise of any warrant,
right or other security that is issued as) a dividend or other distribution with respect to, or in exchange for, or in replacement of,
the shares referenced in (i) above, and (iii) all Ordinary Shares that each Founder may hereafter purchase pursuant to his preemptive
rights, rights of first offer or otherwise, or Ordinary Shares issued on conversion or exercise of other securities so purchased; excluding
in all cases, however, any Registrable Securities sold in a transaction in which rights under this Section 1 ‎ are not assigned.

 

(e)             
The term "Holder" means any person owning, or having the right to acquire, Registrable Securities or any assignee
thereof in accordance with Section 1.11 hereof.

 

(f)              
The term "Initial Offering" means the Company’s first firm commitment underwritten public offering of its
Ordinary Shares registered under the Act or the equivalent law of another jurisdiction.

 

(g)             
The term "Initiating Holders" means Holders of a majority of the Preferred Registrable Securities, assuming for
purposes of such determination the conversion and exercise of all securities convertible or exercisable into Preferred Registrable Securities.

 

(h)             
The term "1934 Act" means the Securities Exchange Act of 1934, as amended.

 

(i)              
The term "register", "registered", and "registration" refer to a registration
effected by preparing and filing a registration statement or similar document in compliance with the Act, and the declaration or ordering
of effectiveness of such registration statement or document.

 

(j)              
The term "Preferred Shares" shall mean the Preferred A Shares, Preferred B Shares, Preferred C Shares, Preferred
D Shares and Preferred E Shares, collectively.

 

(k)              The
term "Preferred Registrable Securities" means, (i) the Ordinary Shares issuable or issued upon conversion of the
Preferred Shares of the Company, (ii) all Ordinary Shares that the Preferred Investors currently own and/or may hereafter purchase
prior to the Company’s Initial Offering pursuant to their preemptive rights, rights of first offer or otherwise, or Ordinary
Shares issued prior to the Company’s Initial Offering on conversion or exercise of other securities so purchased, (iii) any
Ordinary Shares issued to the Private Placement Investors pursuant to the Private Placement Agreements (subject to the closing of
the transaction contemplated thereby), (iii) any Ordinary Shares of the Company issued as (or issuable upon the conversion or
exercise of any warrant, right or other security that is issued as) a dividend or other distribution with respect to, or in exchange
for, or in replacement of, the shares referenced in (i) through (iii) above, excluding in all cases, however, any Registrable
Securities sold in a transaction in which rights under this Section 1 are not assigned. The number of shares of "Registrable
Securities" outstanding shall be determined by the number of Ordinary Shares outstanding and/or issuable pursuant to then
exercisable or convertible securities, that are, Registrable Securities.

 

(l)              
The term "Registrable Securities" means the Preferred Registrable Securities and the Founder Registrable Securities.

 

(m)            
The term "SEC” means the Securities and Exchange Commission.

 

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1.2           
Request for Registration.

 

(a)             
Subject to the conditions of this Section 1.2 ‎, if the Company shall receive at any time following the Lock-Up (as
defined in Section 1.13 ) a written request from the Initiating Holders that the Company file a registration statement under the Act covering
the registration of Registrable Securities (or if the Company shall receive such a request during the Lock-Up and the managing underwriter
of the Company’s Initial Offering, in its sole discretion, gives its written consent to the Company’s compliance with such
request), then the Company shall, within twenty (20) days of the receipt thereof, give written notice of such request to all Holders,
and subject to the limitations of this Section 1.2 , use reasonable best efforts to effect, as soon as practicable, the registration
under the Act of all Preferred Registrable Securities that the Holders request to be registered in a written request received by the Company
within twenty (20) days of the mailing of the Company’s notice pursuant to this Section 1.2(a).

 

(b)              If
the Initiating Holders intend to distribute the Preferred Registrable Securities covered by their request by means of an
underwritten public offering, they shall so advise the Company as a part of their request made pursuant to this Section 1.2 
and the Company shall include such information in the written notice referred to in Section 1.2(a) In such event the right of any
Holder to include its Preferred Registrable Securities in such registration shall be conditioned upon such Holder’s
participation in such underwritten public offering and the inclusion of such Holder’s Preferred Registrable Securities in the
underwritten public offering (unless otherwise mutually agreed by a majority in interest of the Initiating Holders and such Holder)
to the extent provided herein. All Holders proposing to distribute their securities through such underwritten offering shall enter
into an underwriting agreement in customary form with the underwriter or underwriters selected for such underwriting by a majority
in interest of the Initiating Holders (which underwriter or underwriters shall be reasonably acceptable to the Company).
Notwithstanding any other provision of this Section 1.2 , if the underwriter advises the Company that marketing factors require
a limitation of the number of securities underwritten (including Registrable Securities), then the Company shall so advise all
Holders of Preferred Registrable Securities that would otherwise be underwritten pursuant hereto, and the number of shares that may
be included in the underwritten public offering shall be allocated to the Holders of such Preferred Registrable Securities on a pro
rata basis based on the number of Preferred Registrable Securities held by all such Holders (including the Initiating Holders). Any
Preferred Registrable Securities excluded or withdrawn from such underwritten public offering shall be withdrawn from the
registration.

 

(c)             
The Company shall not be required to effect a registration pursuant to this Section 1.2:

 

		a.	in any particular jurisdiction in which the Company would be required to execute a general consent to service
of process in effecting such registration, unless the Company is already subject to service in such jurisdiction and except as may be
required under the Act;

 

		b.	after the Company has effected two (2) registrations pursuant to this Section 1.2, and such registrations
have been declared or ordered effective;

 

		c.	if the Initiating Holders, together with the holders of any other securities of the Company entitled to inclusion
in such registration, propose to sell Preferred Registrable Securities and such other securities (if any) at an aggregate price to the
public (net of any underwriters’ discounts or commissions) of less than twenty five million US Dollars ($25,000,000);

 

		d.	during the period starting with the date sixty (60) days prior to the Company’s good faith estimate
of the date of the filing of, and ending on a date that is the earlier of (A) one hundred and eighty (180) days following the effective
date of the Initial Offering; and (B) ninety (90) days following the effective date of each other Company-initiated registration subject
to Section 1.3 below, provided that the Company is actively employing in good faith all best efforts to cause such registration statement
to become effective; or

 

		e.	if the Company shall furnish to the Initiating Holders requesting a registration statement pursuant to this
Section 1.2, a certificate signed by the Company’s Chief Executive Officer or Chairman of the Company’s Board of Directors
(the "Board") stating that in the good faith judgment of the Board, it would be seriously detrimental to the Company
and its shareholders for such registration statement to be effected at such time, in which event the Company shall have the right to defer
such filing for a period of not more than ninety (90) days after receipt of the request of the Initiating Holders, provided that such
right to delay a request shall be exercised by the Company not more than
once in any twelve (12) months period.

 

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1.3           
Company Registration.

 

(a)            
If (but without any obligation to do so) the Company proposes to register (including for this purpose a registration effected by
the Company for shareholders other than the Holders) any of its shares or other securities under the Act in connection with the public
offering of such securities (other than (i) in connection with the Company’s Initial Offering or (ii) a registration relating solely
to the sale of securities to participants in a Company share option plan, a registration relating to a corporate reorganization or other
transaction listed in Rule 145(a) of the Act or a registration on any form that does not include substantially the same information as
would be required to be included in a registration statement covering the sale of the Registrable Securities (the "Excluded Securities")),
the Company shall, at such time, promptly give each Holder written notice of such registration. Except for the Excluded Securities, upon
the written request of each Holder given within twenty (20) days after delivery of such notice by the Company in accordance with Section
3.5, the Company shall, subject to the provisions of Section 1.3, use its reasonable best efforts to cause to be registered under the
Act all of the Registrable Securities that each such Holder has requested to be registered.

 

(b)             
Right to Terminate Registration. The Company shall have the right to terminate or withdraw any registration initiated by
it under this Section 1.3 prior to the effectiveness of such registration whether or not any Holder has elected to include securities
in such registration. The expenses of such withdrawn registration shall be borne by the Company in accordance with Section 1.7 hereof.

 

(c)              Underwriting
Requirements. In connection with any underwritten public offering of shares of the Company’s share capital, the Company
shall not be required under this Section 1.3 to include any of the Holders’ securities in such offering unless they accept the
terms of the underwriting as agreed upon between the Company and the underwriters selected by it (or by other persons entitled to
select the underwriters) (which underwriter or underwriters shall be reasonably acceptable to the participating Holders) and enter
into an underwriting agreement in customary form with an underwriter or underwriters selected by the Company. Notwithstanding any
other provision of this Agreement, if the underwriter determines in good faith that marketing factors require a limitation of the
number of shares (including Registrable Securities) to be underwritten, the number of shares that may be included in the
underwriting shall be allocated, (i) first, to the Company, (ii) second, to the Holders of Preferred Registrable Securities
pro-rata, based on the total number of Preferred Registrable Securities then held by the Holders of Preferred Registrable Securities
requesting to be included in such registration; provided, however, that the number of Preferred Registrable Securities to be
included in such underwriting and registration shall not be below thirty percent (30%) of the total amount of shares included in
such registration; and (iii) third, to the Founder with respect to the number of Founder Registrable Securities that the Founder is
requesting to be included in such registration. Any Registrable Securities excluded or withdrawn from such underwriting shall be
excluded and withdrawn from the registration. For purposes of the second preceding sentence, concerning apportionment, for any
selling shareholder that is a Holder of Registrable Securities and that is a partnership, limited liability company or corporation,
the partners, members, retired partners, retired members and shareholders of such Holder, or the estates and family members of any
such partners, members and retired partners, retired members and any trusts for the benefit of any of the foregoing persons shall be
deemed to be a single "selling Holder" and any pro rata reduction with respect to such "selling Holder" shall be
based upon the aggregate amount of Registrable Securities owned by all such related entities and individuals.

 

1.4           
Form F-3 Registration. In case the Company shall receive from the Initiating Holders a written request or requests that
the Company effect a registration on Form F-3 and any related qualification or compliance with respect to all or a part of the
Preferred Registrable Securities owned by such Holder or Holders, the Company shall:

 

(a)             
within ten (10) days after receipt of any such request, give written notice of the proposed registration, and any related qualification
or compliance, to all other Holders of Preferred Registrable Securities; and

 

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(b)              
use its reasonable best efforts to effect, as soon as practicable, such registration and all such qualifications and compliances
as may be so requested and as would permit or facilitate the sale and distribution of all or such portion of such Holders’ Preferred
Registrable Securities as are specified in such request, together with all or such portion of the Preferred Registrable Securities of
any other Holders joining in such request as are specified in a written request given within fifteen (15) days after receipt of such written
notice from the Company; provided, however, that the Company shall not be obligated to effect any such registration,
qualification or compliance, pursuant to this Section 1.4:

 

		a.	if Form F-3 is not available for such offering by the Holders;

 

		b.	if the Holders Preferred Registrable Securities, together with the holders of any other securities of the
Company entitled to inclusion in such registration, propose to sell Registrable Securities and such other securities (if any) at an aggregate
price to the public (net of any underwriters’ discounts or commissions) of less than fifteen million US Dollars ($15,000,000);

 

		c.	if the Company shall furnish to the Holders a certificate signed by the Chief Executive Officer or Chairman
of the Board stating that in the good faith judgment of the Board, it would be seriously detrimental to the Company and its shareholders
for such Form F-3 Registration to be effected at such time, in which event the Company shall have the right to defer the filing
of the Form F-3 registration statement for a period of not more than ninety (90) days after receipt of the request of the Holder
or Holders under this Section 1.4; provided, however, that the Company shall not utilize this right more than once
in any twelve (12) months period;

 

		d.	if the Company has, within the twelve (12) months period preceding the date of such request, already
effected two (2) registrations on Form F-3 for the
Holders pursuant to this Section 1.4; or

 

		e.	in any particular jurisdiction in which the Company would be required to qualify to do business or to execute
a general consent to service of process in effecting such registration, qualification or compliance.

 

(c)             
Subject to the foregoing, the Company shall file a registration statement covering the Preferred Registrable Securities and other
securities so requested to be registered as soon as practicable after receipt of the request or requests of the Holders. Registrations
effected pursuant to this Section 1.4 shall not be counted as requests for registration effected pursuant to Section 1.2.

 

1.5          
Obligations of the Company. Whenever required under this Section 1 to effect the registration of any Registrable Securities,
the Company shall, as expeditiously as reasonably possible:

 

(a)             
prepare and file with the SEC a registration statement with respect to such Registrable Securities and use its best efforts to
cause such registration statement to become effective, and, upon the request of the Holders holding a majority of the Registrable Securities
registered thereunder, keep such registration statement effective for a period of up to (i) one hundred and eighty (180) days, (ii) in
the event of a Form F-3 registration, for a period of up to two hundred and seventy (270) days or, (iii) in either case, if earlier, until
the distribution contemplated in the Registration Statement has been completed;

 

(b)             
prepare and file with the SEC such amendments and supplements to such registration statement and the prospectus used in connection
with such registration statement as may be necessary to comply with the provisions of the Act with respect to the disposition of all securities
covered by such registration statement;

 

(c)             
furnish to the Holders such numbers of copies of a prospectus, including a preliminary prospectus, in conformity with the requirements
of the Act, and such other documents as they may reasonably request in order to facilitate the disposition of Registrable Securities owned
by them;

 

(d)             use
its best efforts to register and qualify the securities covered by such registration statement under such other securities or Blue Sky
laws of such jurisdictions as shall be reasonably requested by the Holders, provided that the Company shall not be required in connection
therewith or as a condition thereto to qualify to do business or to file a general consent to service of process in any such states or
jurisdictions;

 

(e)              
in the event of any underwritten public offering, enter into and perform its obligations under an underwriting agreement, in usual
and customary form, with the managing underwriter of such offering;

 

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(f)              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 Act or the happening of any event as a result of which the prospectus included in such
registration statement, as then in effect, includes an untrue statement of a material fact or omits to state a material fact
required to be stated therein or necessary to make the statements therein not misleading in the light of the circumstances then
existing;

 

(g)            
cause all such Registrable Securities registered pursuant hereunder to be listed on each securities exchange on which similar securities
issued by the Company are then listed;

 

(h)             
provide a transfer agent and registrar for all Registrable Securities registered pursuant hereunder and a CUSIP number for all
such Registrable Securities, in each case not later than the effective date of such registration;

 

(i)              
cause senior representatives of the Company to participate in any "road show" or "road shows" reasonably requested
by any underwriter of an underwritten or "best efforts" offering of Registrable Securities; and

 

(j)              
furnish, at the request of any Holder requesting registration of Registrable Securities pursuant to this Agreement, on the date
that such Registrable Securities are delivered to the underwriters for sale in connection with a registration pursuant to this Agreement,
if such securities are being sold through underwriters, or, if such securities are not being sold through underwriters, on the date that
the registration statement with respect to such securities becomes effective, (i) an opinion, dated such date, of the counsel representing
the Company for the purposes of such registration, in form and substance as is customarily given to underwriters in an underwritten public
offering, addressed to the underwriters, if any, and to the Holders requesting registration of Registrable Securities and (ii) a letter
dated such date, from the independent certified public accountants of the Company, in form and substance as is customarily given by independent
certified public accountants to underwriters in an underwritten public offering, addressed to the underwriters, if any, and to the Holders
requesting registration of Registrable Securities.

 

1.6          
Information from Holder. It shall be a condition precedent to the obligations of the Company to take any action pursuant
to this Section 1 with respect to the Registrable Securities of any selling Holder that such Holder shall furnish to the Company such
information regarding itself, the Registrable Securities held by it, and the intended method of disposition of such securities as shall
be required to effect the registration of such Holder’s Registrable Securities.

 

1.7           Expenses
of Registration. All expenses other than underwriting discounts and commissions incurred in connection with registrations, filings
or qualifications pursuant to Sections 1.2, 1.3 and 1.4, including (without limitation) all registration, filing and qualification fees,
printers’ and accounting fees, fees and disbursements of counsel for the Company and the reasonable fees and disbursements of one
counsel for the selling Holders shall be borne by the Company. Notwithstanding the foregoing, the Company shall not be required to pay
for any expenses of any registration proceeding begun pursuant to Section 1.2 or Section 1.4 if the registration request is subsequently
withdrawn at the request of the Holders holding a majority of the Registrable Securities to be registered (in which case all participating
Holders shall bear such expenses pro rata based upon the number of Registrable Securities that were to be requested in the withdrawn
registration), unless, in the case of a registration requested under Section 1.2 , the Holders holding a majority of the Registrable
Securities agree to forfeit their right to one (1) demand registration pursuant to Section 1.2; provided, however,
that if at the time of such withdrawal, the Holders have learned of a material adverse change in the condition, business, or prospects
of the Company from that known to the Holders at the time of their request and have withdrawn the request with reasonable promptness
following disclosure by the Company of such material adverse change, then the Holders shall not be required to pay any of such expenses
and shall retain their rights pursuant to Section 1.2 or 1.4.

 

1.8          
Delay of Registration. No Holder shall have any right to obtain or seek an injunction restraining or otherwise delaying
any such registration as the result of any controversy that might arise with respect to the interpretation or implementation of this Section
1.

 

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1.9           
Indemnification. In the event any Registrable Securities are included in a registration statement under this Section 1:

 

(a)             To
the extent permitted by law, the Company will indemnify and hold harmless each Holder, the partners, members or officers, directors
and shareholders of each Holder, legal counsel and accountants for each Holder, any underwriter (as defined in the Act) for such
Holder and each person, if any, who controls such Holder or underwriter within the meaning of the Act or the 1934 Act (a
 "Holder Indemnitee"), against any losses, claims, damages or liabilities (joint or several) to which they may
become subject under the Act, the 1934 Act or any state securities laws, insofar as such losses, claims, damages, or liabilities (or
actions in respect thereof) arise out of or are based upon any of the following statements, omissions or violations (collectively a
 "Violation"): (i) any untrue statement or alleged untrue statement of a material fact contained in such
registration statement, including any preliminary prospectus or final prospectus contained therein or any amendments or supplements
thereto or any disclosure package filed with the SEC, (ii) the omission or alleged omission to state therein a material fact
required to be stated therein, or necessary to make the statements therein not misleading, or (iii) any violation or alleged
violation by the Company of the Act, the 1934 Act, any state securities laws or any rule or regulation promulgated under the Act,
the 1934 Act or any state securities laws; and the Company will reimburse each such Holder Indemnitee promptly upon demand for any
legal or other expenses reasonably incurred by them in connection with investigating or defending any such loss, claim, damage,
liability or action; provided, however, that the indemnity agreement contained in this subsection 1.9(a)
shall not apply to amounts paid in settlement of any such loss, claim, damage, liability or action if such settlement is effected
without the consent of the Company (which consent shall not be unreasonably withheld, conditioned or delayed), nor shall the Company
be liable in any such case to a Holder Indemnitee for any such loss, claim, damage, liability or action to the extent that it arises
out of or is based upon a Violation that occurs in reliance upon and in conformity with written information furnished expressly for
use in connection with such registration statement by such Holder Indemnitee; provided further, however,
that the foregoing indemnity agreement with respect to any preliminary prospectus shall not inure to the benefit of any Holder
Indemnitee, from whom the person asserting any such losses, claims, damages or liabilities purchased shares in the offering, if a
copy of the prospectus (as then amended or supplemented if the Company shall have furnished any amendments or supplements thereto)
was not sent or given by or on behalf of such Holder Indemnitee, if required by law so to have been delivered, at or prior to the
written confirmation of the sale of the shares to such person, and if the prospectus (as so amended or supplemented) would have
cured the defect giving rise to such loss, claim, damage or liability.

 

(b)           
To the extent permitted by law, each selling Holder will severally and not jointly indemnify and hold harmless the Company, each
of its directors, each of its officers who has signed the registration statement, each person, if any, who controls the Company within
the meaning of the Act, legal counsel and accountants for the Company, any underwriter, any other Holder selling securities in such registration
statement and any controlling person of any such underwriter or other Holder, against any losses, claims, damages or liabilities (joint
or several) to which any of the foregoing persons may become subject, under the Act, the 1934 Act or any state securities laws, insofar
as such losses, claims, damages or liabilities (or actions in respect thereto) arise out of or are based upon any Violation, in each case
to the extent (and only to the extent) that such Violation occurs in reliance upon and in conformity with written information furnished
by such Holder expressly for use in connection with such registration statement; and each such Holder will reimburse any person intended
to be indemnified pursuant to this subsection 1.9(b), for any legal or other expenses reasonably incurred by such person in connection
with investigating or defending any such loss, claim, damage, liability or action; provided, however, that the indemnity
agreement contained in this subsection 1.9(b) shall not apply to amounts paid in settlement of any such loss, claim, damage, liability
or action if such settlement is effected without the consent of the Holder (which consent shall not be unreasonably withheld, conditioned
or delayed), provided that in no event shall any indemnity under this subsection 1.9(b) exceed the net proceeds from the offering received
by such Holder.

 

(c)            
Promptly after receipt by an indemnified party under this Section 1.9 of notice of the commencement of any action (including any
governmental action) involving the subject matter of the foregoing indemnity provisions, such indemnified party will, if a claim in respect
thereof is to be made against any indemnifying party under this Section 1.9, deliver to the indemnifying party a written notice of the
commencement thereof and the indemnifying party shall have the right to participate in, and, to the extent the indemnifying party so desires,
jointly with any other indemnifying party similarly noticed, to assume the defense thereof with counsel mutually satisfactory to the parties;
provided, however, that an indemnified party (together with all other indemnified parties that may be represented without
conflict by one counsel) shall have the right to retain one (1) separate counsel, with the fees and expenses to be paid by the indemnifying
party, if representation of such indemnified party by the counsel retained by the indemnifying party would be inappropriate due to actual
or potential differing interests between such indemnified party and any other party represented by such counsel in such proceeding. The
failure to deliver written notice to the indemnifying party within a reasonable time of the commencement of any such action, if materially
prejudicial to its ability to defend such action, shall relieve such indemnifying party of any liability to the indemnified party under
this Section 1.9 but the omission so to deliver written notice to the indemnifying party will not relieve it of any liability that it
may have to any indemnified party otherwise than under this Section 1.9. No indemnifying party will consent to entry of any judgment or
enter into any settlement, which does not include as an unconditional term thereof the giving by the claimant or plaintiff to such indemnified
party of a release from all liability in respect to such claim or litigation.

 

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(d)            
 If the indemnification provided for in this Section 1.9 is held by a court of competent jurisdiction to be unavailable to an indemnified
party with respect to any loss, liability, claim, damage or expense referred to herein, then the indemnifying party, in lieu of indemnifying
such indemnified party hereunder, shall, subject to the limitation set forth in this Section 1.9(d), contribute to the amount paid or
payable by such indemnified party as a result of such loss, liability, claim, damage or expense 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 that resulted in such loss, liability, claim, damage or expense, as well as any other relevant equitable considerations.
Notwithstanding anything to the contrary contained herein, in no event shall the contribution obligation of any Holder set forth in this
Section 1.9(d) exceed the net proceeds from the offering received by such Holder. The relative fault of the indemnifying party and of
the indemnified party shall be determined by reference to, among other things, whether the untrue or alleged untrue statement of a material
fact or the omission to state a material fact relates to information supplied by the indemnifying party or by the indemnified party and
the parties’ relative intent, knowledge, access to information, and opportunity to correct or prevent such statement or omission;
provided, however, that, in any such case (x) no Holder will be required to contribute any amount in excess of the public offering
price of all such Registrable Securities offered and sold by such Holder pursuant to the applicable registration statement, and (y) no
person guilty of fraudulent misrepresentation (within the meaning of Section 11(f) of the Securities Act) will be entitled to contribution
from any person who was not guilty of such fraudulent misrepresentation; and provided further that in no event shall a Holder’s
liability pursuant to this Section 1.9(d), when combined with the amounts paid or payable by such Holder pursuant to Section1.9(b), exceed
the proceeds from the offering received by such Holder (net of any selling expenses paid by such Holder), except in the case of willful
misconduct or fraud by such Holder.

 

(e)            
Notwithstanding the foregoing, to the extent that the provisions on indemnification and contribution contained in the underwriting
agreement entered into in connection with the underwritten public offering are in conflict with the foregoing provisions, the provisions
in the underwriting agreement shall control against each Holder to the extent such Holder is party to the underwriting agreement.

 

(f)             
The obligations of the Company and Holders under this Section 1.9 shall survive the completion of any offering of Registrable Securities
in a registration statement under this Section 1 , and otherwise.

 

1.10         
Reports Under Securities Exchange Act of 1934. With a view to making available to the Holders the benefits of Rule 144
promulgated under the Act ("SEC Rule 144") and any other rule or regulation of the SEC that may at any time permit a
Holder to sell securities of the Company to the public without registration or pursuant to a registration on Form F-3, the Company
agrees to:

 

(a)             
make and keep public information available, as those terms are understood and defined in SEC Rule 144, at all times after
the effective date of the Initial Offering;

 

(b)             
 file with the SEC in a timely manner all reports and other documents required of the Company under the Act and the 1934 Act; and

 

(c)             
furnish to any Holder of Registrable Securities, so long as the Holder owns any Registrable Securities, forthwith upon request
(i) a written statement by the Company that it has complied with the reporting requirements of SEC Rule 144 (at any time after
ninety (90) days after the effective date of the first registration statement filed by the Company), the Act and the 1934 Act (at any
time after it has become subject to such reporting requirements), or that it qualifies as a registrant whose securities may be resold
pursuant to Form F-3 (at any time after it so qualifies), (ii) a copy of the most recent annual or quarterly report of the
Company and such other reports and documents so filed by the Company with the SEC, and (iii) such other information as may be reasonably
requested in availing any Holder of any rule or regulation of the SEC that permits the selling of any such securities without registration
or pursuant to such form.

 

    8 

     

    

 

1.11         Assignment of Registration Rights. The rights to cause the Company to register Registrable Securities pursuant to this Section
1 may be assigned (but only with all related obligations and together with the transfer of the Registrable Securities pursuant to the
Articles of Association of the Company then in effect) by a Holder of Registrable Securities to a transferee or assignee of such securities
that is a Permitted Transferee (as such term is defined in the Company's Articles of Association then in effect) of such Holder provided:
(a) the Company is, within a reasonable time after such transfer, furnished with written notice of the name and address of such transferee
or assignee and the securities with respect to which such registration rights are being assigned; (b) such transferee or assignee
agrees in writing, in a form reasonably satisfactory to the Company, to be bound by and subject to the terms and conditions of this Agreement,
including without limitation the provisions of Section 1.13 below; and (c) such assignment shall be effective only if immediately
following such transfer the further disposition of such securities by the transferee or assignee is restricted under the Act.

 

1.12         
Limitations on Subsequent Registration Rights. From and after the date of this Agreement, the Company shall not, without
the prior written consent of the Holders holding a majority of the Preferred Registrable Securities, enter into any agreement with any
holder or prospective holder of any securities of the Company that would allow such holder or prospective holder (a) to include such
securities in any registration filed under Section 1.3 hereof, unless under the terms of such agreement, such holder or prospective holder
may include such securities in any such registration only to the extent that the inclusion of such securities will not reduce the amount
of the Registrable Securities of the Holders that are included or (b) to demand registration of their securities.

 

1.13         "Market Stand-Off" Agreement. Each Holder hereby agrees that it will not, without the prior written consent
of the managing underwriter, during the period commencing on the date of the final prospectus relating to the Company’s Initial
Offering and ending on the date specified by the Company and the managing underwriter (such period not to exceed one hundred and eighty
(180) days) (i) lend, offer, pledge, sell, contract to sell, sell any option or contract to purchase, purchase any option or contract
to sell, grant any option, right or warrant to purchase, or otherwise transfer or dispose of, directly or indirectly, any Ordinary Shares
or any securities convertible into or exercisable or exchangeable for Ordinary Shares (whether such shares or any such securities are
then owned by the Holder or Founder, as the case may be, or are thereafter acquired by the Holder or Founder), or (ii) enter into
any swap or other arrangement that transfers to another, in whole or in part, any of the economic consequences of ownership of the Ordinary
Shares, whether any such transaction described in clause (i) or (ii) above is to be settled by delivery of Ordinary Shares or such
other securities, in cash or otherwise (such period, as it may be reduced with the prior written consent of the managing underwriter,
in its sole discretion, the "Lock-Up"). The foregoing provisions of this Section 1.13 shall apply only to the Company’s
Initial Offering, shall not apply to (x) the sale of any shares to an underwriter pursuant to an underwriting agreement, or (y)(A) the
transfer of any shares to another corporation, partnership, limited liability company or other business entity that is an affiliate of
such Holder, or to any investment fund or other entity controlled or managed by or under common control with such Holder or affiliates
of such Holder, or (B) as part of a distribution or transfer by such Holder to its stockholders, partners, members or other equity holders
or to the estate of any such stockholders, partners, members or other equity holders, and (z) the transfer of any shares to any trust
for the direct or indirect benefit of the Holder or the immediate family of the Holder, provided that in the cases of (y) and (z) the
transferee agrees to be bound in writing by the restrictions set forth herein, and shall only be applicable to the Holders if all officers
and directors and greater than one percent (1%) shareholders of the Company enter into similar agreements. The underwriters in connection
with the Company’s Initial Offering are intended third party beneficiaries of this Section 1.13 and shall have the right, power
and authority to enforce the provisions hereof as though they were a party hereto. In addition, at the underwriters’ request, each
Holder and the Founder, shall enter into a lock-up agreement in customary form reflecting the foregoing. Notwithstanding the foregoing,
any release of a Lock-Up by the underwriters shall only be effective if made on a pro rata basis, including with respect to management
and employees, and any lock-up agreement with underwriters shall contain a clause to this effect.

 

In order to enforce the foregoing
covenant, the Company may impose stop-transfer instructions with respect to the Registrable Securities of each Holder (and the shares
or securities of every other person subject to the foregoing restriction, including the Founder) until the end of such period.

 

To the extent that there shall
be discretionary releases of shares from the Lock-Up, such discretionary releases of shares shall be allocated on a pro rata basis based
on the number of shares of Ordinary Shares (including Ordinary Shares issuable upon the conversion of Preferred Shares) held by all shareholders
that are subject to the Lock-Up.

 

1.14         Foreign Offerings. The provisions of this Section 1 shall apply, mutatis mutandis, to any registration of securities of
the Company outside of the United States.

 

1.15          Termination
of Registration Rights. The rights of any Founder provided in this Section 1 , shall terminate upon such time as Rule 144 of the
Securities Act or another similar exemption under the Securities Act is available for such Founder for the sale of all of its
Registrable Securities without any volume limitations (the “Rule 144 Termination Date”); and the rights of any Holder
(other than the Founders) provided in this Section 1, shall terminate upon the earlier of (i) five (5) years following the
completion of the Initial Offering, and (ii) such time as Rule 144 of the Securities Act or another similar exemption under the
Securities Act is available for such Holder for the sale of all of its Registrable Securities without any volume limitations.

 

    9 

     

    

 

2.            
Representations, Warranties and Covenants of the Company.

 

2.1          
Delivery of Financial Statements. For as long as the Preferred Shares are outstanding, the Company shall deliver to each
Preferred Investor or any transferee thereof (the "Eligible Preferred Investor"):

 

(a)             
as soon as practicable, but in any event within seventy five (75) days after the end of each fiscal year of the Company, an income
statement for such fiscal year, a balance sheet of the Company and statement of shareholder’s equity as of the end of such year,
and a statement of cash flows for such year, such year-end financial reports to be in reasonable detail, on consolidated and stand-alone
basis, prepared in accordance with generally accepted accounting principles in the United States ("GAAP"), and audited
and certified by independent public accountants of nationally recognized standing selected by the Company, and accompanied by an opinion
of such accounting firm which opinion shall state that such balance sheet and income statement and statement of cash flow have been prepared
in accordance with GAAP applied on a basis consistent with that of the preceding fiscal year, and present fairly and accurately the financial
position of the Company as of their date, and that the audit by such accountants in connection with such financial statements has been
made in accordance with GAAP;

 

(b)            
as soon as practicable, but in any event within forty-five (45) days after the end of each of the first three (3) quarters of each
fiscal year of the Company, an unaudited consolidated and standalone income statement, statement of cash flows for such fiscal quarter
and an unaudited balance sheet as of the end of such fiscal quarter, and in the case of the first, second and third quarterly periods,
for the period from the beginning of the current fiscal year to the end of such quarterly period, setting forth in each case in comparative
form the figures for the corresponding period of the previous fiscal year, all in reasonable detail and United States dollar-denominated;

 

(c)             
as soon as practicable, but in any event within thirty (30) days of the end of each month, an unaudited income statement and statement
of cash flows and balance sheet for and as of the end of such month, in reasonable detail;

 

(d)             
as soon as practicable, but in any event at least thirty (30) days prior to the end of each fiscal year, a budget and business
plan for the next fiscal year, prepared on a monthly basis, including balance sheets, income statements and statements of cash flows for
such months and, as soon as prepared, any other budgets or revised budgets prepared by the Company; and

 

(e)              with
respect to the financial statements called for in subsections (b) and (c) of this Section 2.1, an instrument executed by the
Chief Financial Officer or President of the Company certifying that such financials were prepared in accordance with GAAP
consistently applied with prior practice for earlier periods (with the exception of footnotes that may be required by GAAP) and
fairly present the financial condition of the Company and its results of operation for the period specified, subject to year-end
audit adjustment; and

 

(f)              
such other information relating to the financial condition, business, prospects or corporate affairs of the Company as the Eligible
Preferred Investor may from time to time reasonably request, provided, however, that the Company shall not be obligated
under this subsection (f) to provide information that it deems in good faith to be a trade secret or similar confidential information
of the Company or any affiliate thereof, unless a customary confidentiality undertaking is signed.

 

2.2          
Inspection. The Company shall permit each Eligible Preferred Investor or, subject to customary confidentiality restrictions
and undertakings, its authorized representatives, at the Eligible Preferred Investor’s expense, to visit and inspect the Company’s
properties, to examine its books of account and records and to discuss the Company’s affairs, finances and accounts with its officers,
during normal business hours following reasonable notice and as often as may be reasonably requested by the Eligible Preferred Investor.

 

2.3          
Termination of Information and Inspection Covenants. The covenants set forth in Sections 2.1 and 2.2 shall terminate and
be of no further force or effect upon the closing of the Initial Offering or when the Company first becomes subject to the periodic reporting
requirements of Sections 12(g) or 15(d) of the 1934 Act, whichever event shall first occur.

 

2.4           
Directors and Officers Insurance. The Company shall obtain and maintain in effect via a broker and through an insurer approved
in writing by the Preferred Investors and upon terms acceptable to the Preferred Investors directors and officers liability insurance
policy in an aggregate amount of at least five million US Dollars ($5,000,000).

 

    10 

     

    

 

2.5           
CFC Representations and Warranties.

 

(a)             
Immediately after the closing of the transaction contemplated by the Private Placement Agreement, the Company will not be a "Controlled
Foreign Corporation" ("CFC") as defined in the U.S. Internal Revenue Code of 1986, as amended (or any successor
thereto) (the "Code") with respect to the shares held by the Preferred Investors.

 

(b)             
NUntil the closing of the Initial Offering, no later than forty-five (45) days following the end of each of the Company’s
taxable year, any time that there is a change in either the Company's, or a subsidiary of the Company’s, ownership structure, and
at any other time reasonably requested by a Preferred C Investor, Preferred D Investor or Preferred E Investor (a "Preferred C/D/E
Investor"), the Company shall supply each Preferred C/D/E Investor, upon its request, with all information that it has in its
possession that may be reasonably necessary for a Preferred Investor to determine, (A) whether such Preferred C/D/E Investor, or one of
its direct or indirect owners, is a "United States Shareholder" (as described in Section 951(b) of the Code) with respect to
the Company or any Subsidiary of the Company, (B) whether the Company, or any subsidiary of the Company, is a CFC.

 

(c)              IUntil
the closing of the Initial Offering, in the event that the Company is determined, by counsel, accountants for the majority of the
Preferred C Investors, or accountants for the majority of the Preferred D Investors or accountants for the majority of the Preferred
E Investors, to be a CFC with respect to the shares of the Company held by a Preferred C/D/E Investor, as applicable, the Company
agrees (A) to use commercially reasonable efforts to avoid (I) generating "subpart F income" as such term is defined in
Section 952 of the Code and the Treasury Regulations promulgated thereunder, and (II) investing in "United States
property" as such term is defined in Section 956(c) of the Code and the Treasury Regulations promulgated thereunder.

 

2.6         
PFIC Representations and Covenants. The Company represents, warrants and covenants to each Preferred Investor (and acknowledges
that such Preferred Investor and its counsels are relying thereon) the following:

 

(a)             
The Company will make its commercially reasonable efforts not to be at any time during the 2019 calendar year, a "passive
foreign investment company" (or "PFIC") within the meaning of Section 1297 of the Code. The Company shall use its
commercially reasonable efforts to avoid and, use its commercially reasonable efforts to cause its subsidiaries to avoid, being a PFIC.

 

(b)             
TUntil the closing of the Initial Offering, the Company shall provide, upon a Preferred Investor’s reasonable request, any
information reasonably available to the Company and its affiliates which is reasonably requested by a Preferred Investor in order for
the Preferred Investor to determine whether the Company is a PFIC. The Company will provide prompt written notice to the Preferred Investors
if at any time the Company determines that it is a PFIC.

 

(c)             
TUntil the closing of the Initial Offering, the Company shall provide any information reasonably available to the Company and its
affiliates which is requested by a Preferred Investor in order for such Preferred Investor to make required filings with applicable taxing
authorities including, without limitation, U.S. Internal Revenue Service filings on Form 8621.

 

(d)             
UUntil the closing of the Initial Offering, upon request of a Preferred Investor, the Company shall as soon as reasonably practicable,
but in no event later than 60 days after the end of each U.S. taxable year of the Company, provide the Preferred Investor with a "PFIC
Annual Information Statement" (within the meaning of U.S. Treasury Regulations Section 1.1295-1(g)), which shall be signed by the
Company or an authorized representative of the Company and which shall set forth the following information:

 

		a.	the Preferred Investor’s pro rata share of the "ordinary earnings" and "net capital
gain" (as defined in U.S. Treasury Regulations Section 1.1293-1(a)(2)) of the Company for such taxable year;

 

		b.	the amount of cash and the fair market value of other property distributed or deemed distributed to the Subscriber
by the Company during such taxable year; and

 

		c.	a statement that the Company will permit the Preferred Investor to inspect and copy the Company’s permanent
books of account, records, and such other documents as may be maintained by the Company to establish that the Company’s "ordinary
earnings" and "net capital gain" are computed in accordance with U.S. federal income tax principles, and to verify these
amounts and the Subscriber’s pro rata shares thereof.

 

2.7          
Entity Classification Representation. The Company shall take such actions, including making an election to be treated as
a corporation or refraining from making an election to be treated as a partnership, as may be required to ensure that at all times the
company is treated as corporation for United States federal income tax purposes.

 

    11 

     

    

 

3.            
Miscellaneous.

 

3.1           
Successors and Assigns. Except as otherwise provided herein, the terms and conditions of this Agreement shall inure to the
benefit of and be binding upon the respective successors and assigns of the parties (including transferees of any shares of Registrable
Securities). Nothing in this Agreement, express or implied, is intended to confer upon any party other than the parties hereto or their
respective successors and assigns any rights, remedies, obligations, or liabilities under or by reason of this Agreement, except as expressly
provided in this Agreement.

 

3.2           
Governing Law; Jurisdiction. This Agreement shall be governed by and construed under the laws of the State of Israel as
applied to agreements among Israeli residents entered into and to be performed entirely within the State of Israel. Any dispute arising
under or in relation to this Agreement shall be resolved by the competent court in Tel Aviv –Yafo, Israel, and each of the parties
hereby submits exclusively and irrevocably to the jurisdiction of such court.

 

3.3           
Counterparts. This Agreement may be executed in two or more counterparts, each of which shall be deemed an original, but
all of which together shall constitute one and the same instrument.

 

3.4           
Interpretation. The preamble and any schedules or exhibits to this Agreement form integral parts thereof. The titles and
subtitles used in this Agreement are used for convenience only and are not to be considered in construing or interpreting this Agreement.
Where the context requires, words importing the singular also import the plural, and vice versa, and words importing the whole also import
any part thereof, and vice versa. Words of inclusion shall not be construed as terms of limitation herein, so that references to “included”
matters shall be regarded as non-exclusive, non-characterizing illustrations.

 

3.5          
Notices. Any notice required or permitted by any provision of this Agreement shall be given in writing and shall be delivered
personally, by courier, by facsimile, by electronic mail or by registered or certified mail, postage prepaid, addressed (i) in the case
of the Company, to its principal office; (ii) in the case of any Investor or the Founder at the address of the Investor or Founder as
set forth on the signature page hereto or such other address for the Investor or Founder as shall be designated in writing from time
to time by the Investors or Founder with a copy (not constituting a notice), in relation to a notice to Sapphire Ventures Fund IV, L.P.
or Sapphire Opportunity Fund, L.P., to (a) Goldfarb Seligman & Co., Law Offices, Ampa Tower, 98 Yigal Alon Street, Tel Aviv 6789141,
Israel, Attn: Adv. Ashok J. Chandrasekhar, ashok.chandrasekhar@goldfarb.com; and (b) Adv. Jim Morrone, Latham & Watkins LLP,
505 Montgomery Street, Suite 2000, San Francisco California, Jim.morone@lw.com; in relation to the investment funds affiliated with Insight
Venture Management, LLC, to Willkie Farr & Gallagher LLP, 787 Seventh Avenue, New York, New York 10019, Attn: Morgan D. Elwyn, Esq.,
melwyn@willkie.com; in relation to the investment funds affiliated with SG Growth Partners III Offshore AIV, LP and SG Growth Partners
IV Offshore AIV, LP, to Herzog Fox & Neeman Law Office Asia House, 4 Weizmann St., Tel Aviv 6423904, Israel, Att: Adv. Yair Geva
and Adv. Yael Hauser, Fax No. 972-3-6966464, gevay@hfn.co.il, hausery@hfn.co.il; in relation to a notice to Salesforce Ventures
LLC to Bradley Chernin, Covington & Burling LLP, 415 Mission Street, Suite 5400, San Francisco, California 94105; in relation to
a notice to Zoom Video Communications, Inc. to Jon Avina, Calise Cheng and Alex Kassai, Cooley LLP, 3175 Hanover Street, Palo Alto, California
494304; and, in relation to a notice to the Company, to Attn: Adv. Alon Sahar and Adv. Efrat Ziv, Meitar, Law Offices, 16 Abba Hillel
Rd. Ramat Gan, Israel, asahar@meitar.com and efratz@meitar.com, and, (iii) in the case of any permitted transferee of a party
to this Agreement or its transferee, to such transferee at its address as designated in writing by such transferee to the Company from
time to time. Notices that are mailed shall be deemed received five (5) days after deposit in the mail. Notices sent by courier or overnight
delivery shall be deemed received two (2) days after they have been so sent. Notices sent by electronic mail or facsimile (with electronic
confirmation of delivery) shall be deemed received, if on a business day and during normal business hours of the recipient, then the
same day, and otherwise on the first business day in the place of recipient.

 

3.6           
Expenses. If any action at law or in equity is necessary to enforce or interpret the terms of this Agreement, the prevailing
party shall be entitled to reasonable attorneys’ fees, costs and necessary disbursements in addition to any other relief to which
such party may be entitled.

 

    12 

     

    

 

3.7            Entire
Agreement; Amendments and Waivers. This Agreement (including the schedules hereto, if any) constitutes the full and entire
understanding and agreement among the parties with regard to the subjects hereof and thereof. Any term of this Agreement may be
amended and the observance of any term of this Agreement may be waived (either generally or in a particular instance and either
retroactively or prospectively), only with the written consent of the Company and Holders of at least 60% of the Preferred
Registrable Securities. Notwithstanding the foregoing, (i) this Agreement may not be amended, and no provision hereof may be waived,
in each case, in any way which would adversely affect the rights of any Holder hereunder in a manner disproportionate to any adverse
effect such amendment or waiver would have on the rights of all other Holders hereunder, without also the written consent of such
Holder, and (ii) Sections 2.5, 2.6 and 2.7 shall not be amended or terminated, and the observance of any term thereof may not be
waived, without the written consent of each of the majority of the Preferred C Investors, the majority of the Preferred D Investors
and the majority of the Preferred E Investors. The Company shall give prompt notice of any amendment or termination hereof or waiver
hereunder to any party hereto that did not consent in writing to such amendment, termination, or waiver. No waivers of or exceptions
to any term, condition, or provision of this Agreement, in any one or more instances, shall be deemed to be or construed as a
further or continuing waiver of any such term, condition, or provision. Any amendment or waiver effected in accordance with this
paragraph shall be binding upon the Investors, the Founder, their future transferees and the Company.

 

3.8           
Severability. If one or more provisions of this Agreement are held to be unenforceable under applicable law, such provision
shall be excluded from this Agreement and the balance of the Agreement shall be interpreted as if such provision were so excluded and
shall be enforceable in accordance with its terms.

 

3.9          
Aggregation of Shares. All shares of Registrable Securities held or acquired by affiliated entities or persons shall be
aggregated together for the purpose of determining the availability of any rights under this Agreement.

 

3.10         
Additional Parties. The parties hereto agree that subject to the prior written approval of the Holders holding at least
60% of the Preferred Registrable Securities, additional parties may be added as parties to this Agreement as Holders with respect to any
or all of the securities of the Company purchased by them, and shall thereupon be deemed for all purposes a Holder hereunder. Any such
additional party shall execute a counterpart of this Agreement, and upon execution by such additional party and by the Company, shall
be considered a Holder for purposes of this Agreement and all terms and conditions of this Agreement shall apply to such additional party.
The parties agree that the schedules hereto shall be updated automatically without any formal amendment to reflect the addition of any
such additional party.

 

3.11         
Delays or Omissions. No delay or omission to exercise any right, power or remedy accruing to any party hereto upon any breach
or default of any other party under this Agreement shall impair any such right, power or remedy of such party, nor shall it be construed
to be a waiver of any such breach or default or an acquiescence therein, or of or in any similar breach or default thereafter occurring;
nor shall any waiver of any single breach or default be deemed a waiver of any other breach or default theretofore or thereafter occurring.
Any waiver, permit, consent or approval of any kind or character on the part of any party of any provisions or conditions of this Agreement,
must be made in writing and shall be effective only to the extent specifically set forth in such writing. All remedies, either under this
Agreement or by law or otherwise afforded to any party, shall be cumulative and not alternative.

 

3.12          No
 "Bad Actor" Designees. Each person with the right to designate or participate in the designation of a director as
specified in the Company’s Articles of Association as currently in effect hereby represents and warrants to the Company that,
to such person's knowledge, none of the "bad actor" disqualifying events described in Rule 506(d)(1)(i)-(viii) promulgated
under the Securities Act of 1933, as amended (the "Securities Act") (each, a "Disqualification
Event"), is applicable to such person's initial designee named therein, if applicable, for a Disqualification Event as to
which Rule 506(d)(2)(ii) or (iii) or (d)(3) is applicable. Any director designee to whom any Disqualification Event is applicable,
except for a Disqualification Event as to which Rule 506(d)(2)(ii) or (iii) or (d)(3) is applicable, is hereinafter referred to as a
 "Disqualified Designee". Each person with the right to designate or participate in the designation of a director as
specified in the Company’s Articles of Association as currently in effect covenants and agrees (A) not to designate or
participate in the designation of any director designee who, to such person's knowledge, is a Disqualified Designee and (B) that in
the event such person becomes aware that any individual previously designated by any such person is or has become a Disqualified
Designee, such person shall as promptly as practicable take such actions as are necessary to remove such Disqualified Designee from
the board of directors and designate a replacement designee who is not a Disqualified Designee.

 

[Signature Pages Follow Immediately]

 

    13 

     

    

 

 

IN WITNESS WHEREOF, the parties
hereto have executed this Amended and Restated Investors’ Rights Agreement as of the first date written above.

 

	 	COMPANY:
	 	 
	 	 
	 	MONDAY.COM LTD.
	 	 
	 	By: 	                        
	 	Name: Roy Mann
	 	Title: Co-Chief Executive Officer
	 	Address: 52 Menachem Begin Rd., Tel Aviv
	 	Email: Roy@monday.com
	 	 
	 	 
	 	FOUNDER
	 	 
	 	
	 	ROY MANN
	 	 
	 	Email: roy@monday.com
	 	 
	 	 
	 	FOUNDER 
	 	 
	 	
	 	ERAN ZINMAN
	 	 
	 	Email: eran@monday.com

 

[Company
Signature Page (1) to monday.com – Amended and Restated Investors Rights’ Agreement]

 

     

     

    

 

	INVESTORS:	 	 
	 	 	 
	 	 	 
	 	 	 
	IG AGGREGATOR, L.P.

    By: Insight Venture Associates X, L.P.,

    its general partner

    By: Insight Venture Associates X, Ltd.,

    its general partner
	 	SONNIPE LIMITED

    Name:

    Title:

    Address: Clinch's House, Lord St, Douglas,
    Isle of Man, IM99 1RZ

    Email:

	By: 	 	  
	 	Name: 	Blair Flicker
    	 	 
	 	Title: 	Authorized Officer	 	 
	Address:
    c/o Insight Venture Partners

    1114 Avenue of the Americas, 36th Floor

    New York, New York 10036

    Attn: Blair Flicker, General Counsel

    Email: bflicker@insightpartners.com
	 	 
	 	 	 
	 	 	 
	 	 	 
	STRIPES III OFFSHORE AIV, LP

    By: its general partner:

    Name:

    Title:

    Address:
    402 W 13th Street 4th Floor, c/o Stripes Group LLC, 

    New York, NY 10014

    Email: ken@stripesgroup.com 
	 	STRIPES
    IV OFFSHORE AIV, LP

    By: its general partner:

    Name:

    Title:

    Address:
    402 W 13th Street 4th Floor, c/o Stripes Group LLC,

    New York, NY 10014

    Email: 

	 	 	 
	 	 	 
	 	 	 
	L1 CAPITAL VC DIRECT FUND

    Name:

    Title:

    Address: Level 28, 101 Collins St., Melbourne,
    VIC, 3000, Australia

    Email: 
	 	DAVID ZERAH

    Address: 33 Nurit St., Bazra, Israel

    Email: 

	 	 	 
	 	 	 
	 	 	 
	ISHAY GREEN

    Address:

    Email: ishayg@gmail.com 
	 	AVIAD EYAL

    Address: 11 HaTamar St., Raanana, Israel

    Email:

 

[Company Signature Page (2) to monday.com
 – Amended and Restated Investors Rights’ Agreement]

 

     

     

    

 

IN WITNESS WHEREOF, the parties
hereto have executed this Amended and Restated Investors’ Rights Agreement as of the first date written above.

 

	INVESTORS:	 	 
	 	 	 
	INSIGHT VENTURE PARTNERS IX, L.P.	 	INSIGHT VENTURE PARTNERS (CAYMAN) IX, L.P.
	 	 	 
	By: Insight Venture Associates IX, L.P.,

    its general partner

    By: Insight Venture Associates IX, Ltd.,

    its general partner 
	 	By: Insight Venture Associates IX, L.P.,

    its general partner

    By: Insight Venture Associates IX, Ltd.,

    its general partner 
	By:	 	 	By:	 
	 	Name: 	Blair Flicker	 	 	Name:	Blair Flicker
	 	Title: 	Authorized Officer	 	 	Title: 	Authorized Officer
	 	 	 
	Address:

    c/o Insight Venture Partners

    1114 Avenue of the Americas, 36th Floor, New York,

    New York 10036

    Attn: Blair Flicker, General Counsel

    bflicker@insightpartners.com 
	 	Address:

    c/o Insight Venture Partners

    1114 Avenue of the Americas, 36th Floor New York,

    New York 10036

    Attn: Blair Flicker, General Counsel

    bflicker@insightpartners.com 

	 	 	 
	 	 	 
	INSIGHT VENTURE PARTNERS (DELAWARE) IX,
    L.P.	 	INSIGHT VENTURE PARTNERS IX (CO-INVESTORS),
    L.P.
	 	 	 
	By: Insight Venture Associates IX, L.P.,

    its general partner

    By: Insight Venture Associates IX, Ltd.,

    its general partner	 	By: Insight Venture Associates IX, L.P.,

    its general partner

    By: Insight Venture Associates IX, Ltd.,

    its general partner
	By:	 	 	By:	    
	 	Name: 	Blair Flicker	 	 	Name: 	Blair Flicker   
	 	Title: 	Authorized Officer	 	 	Title: 	Authorized Officer
	 	 	    
	Address:

    c/o Insight Venture Partners

    1114 Avenue of the Americas, 36th Floor

    New York, New York 10036

    Attn: Blair Flicker, General Counsel bflicker@insightpartners.com 
	 	Address:

    c/o Insight Venture Partners

    1114 Avenue of the Americas, 36th Floor

    New York, New York 10036

    Attn: Blair Flicker, General Counsel

    bflicker@insightpartners.com

 

[Company Signature
Page (3) to monday.com – Amended and Restated Investors Rights’ Agreement]

 

     

     

    

 

IN WITNESS WHEREOF, the parties
hereto have executed this Amended and Restated Investors’ Rights Agreement as of the first date written above.

 

	INVESTORS:	 
	 	 
	SAPPHIRE VENTURES FUND IV, L.P.,	 
	a Delaware limited partnership	 
	 	 
	By: Sapphire Ventures (GPE) IV, L.L.C.,	 
	a Delaware limited liability company	 
	its general partner	 
	 	 
	By:	        	         	 
	Name:	 	         
	Title:   	 	 
	 	 
	By:	 	 
	Name:	 	 
	Title:   	 	 
	 	 
	 	 
	Address:	3408 Hillview Avenue	 
	 	Palo Alto, California USA 94304	 
	Email:	 
	 	 
	SAPPHIRE OPPORTUNITY FUND, L.P.,	 
	a Delaware limited partnership	 
	 	 
	By: Sapphire Opportunity (GPE) I, L.L.C.,	 
	a Delaware limited liability company	 
	its general partner	 
	 	 
	By:	 	 	 
	Name:	 	 
	Title:   	Managing Member	 
	 	 
	 	 
	Address:	3408 Hillview Avenue	 
	 	Palo Alto, California USA 94304	 
	Email:	 

 

[Company Signature
Page (4) to monday.com – Amended and Restated Investors Rights’ Agreement]

 

     

     

    

 

IN WITNESS WHEREOF, the parties
hereto have executed this Amended and Restated Investors’ Rights Agreement as of the first date written above.

 

INVESTORS:

 

	 	 	 
	HARBOURVEST
    PARTNERS XI VENTURE FUND L.P.	 	HARBOURVEST
    PARTNERS XI VENTURE AIF L.P.
	 	 	 
	By: HarbourVest XI Associates
    L.P.

    Its General Partner

    By: HarbourVest GP LLC

    Its General Partner

    By: HarbourVest Partners,
    LLC

    Its Managing Member

    Name:

    Title:

    Address: c/o HarbourVest Partners, LLC,

    One Financial Center, 44th
    Floor,

    Boston, Massachusetts 02111 
	 	By: HarbourVest Partners
    (Ireland) Limited

    Its Alternative Investment
    Fund Manager

    By: HarbourVest Partners
    L.P.

    Its Duly Appointed Investment
    Manager

    By: HarbourVest Partners,
    LLC

    Its General Partner

    Name:

    Title:

    Address: c/o HarbourVest
    Partners, LLC,

    One Financial Center, 44th
    Floor,

    Boston, Massachusetts 02111

	 	 	 
	 	 	 
	HARBOURVEST/NYSTRS
    CO-INVEST FUND II L.P.	 	HARBOURVEST
    FINANCE STREET L.P.
	 	 	 
	By: HarbourVest/NYSTRS Associates
    II L.P.

    Its General Partner

    By: HarbourVest/NYSTRS Associates
    II LLC

    Its General Partner

    By: HarbourVest Partners,
    LLC

    Its Managing Member

    Name:

    Title:

    Address: c/o HarbourVest
    Partners, LLC,

    One Financial Center, 44th
    Floor,

    Boston, Massachusetts 02111
	 	By: HarbourVest Finance Street
    Associates L.P.

    Its General Partner

    By: HarbourVest GP LLC

    Its General Partner

    By: HarbourVest Partners,
    LLC

    Its Managing Member

    Name:

    Title:

    Address: c/o HarbourVest
    Partners, LLC,

    One Financial Center, 44th
    Floor, Boston,

    Massachusetts 02111 

	 	 	 
	 	 	 
	SMRS-TOPE
    LLC	 	 
	 	 	 
	By: HVST-TOPE LLC

    Its Managing Member

    By: HarbourVest Partners
    L.P.

    Its Manager

    By: HarbourVest Partners,
    LLC

    Its General Partner

    Name:

    Title:

    Address: c/o HarbourVest
    Partners, LLC, One Financial Center, 44th Floor, Boston, Massachusetts 02111
	 	 

 

[Company
Signature Page (5) to monday.com – Amended and Restated Investors Rights’ Agreement]

 

     

     

    

 

IN WITNESS WHEREOF, the parties
hereto have executed this Amended and Restated Investors’ Rights Agreement as of the first date written above.

 

INVESTORS:

 

	 	 	 
	HAMILTON LANE/NYSCRF ISRAEL INVESTMENT FUND L.P.	 	HAMILTON LANE CO-INVESTMENT
    FUND IV HOLDINGS-2 LP
	By: HL/NY Israel Investment Fund GP LLC, its General Partner

    Name: Anthony Donofrio, Authorized Person

    Address: 1 Presidential Blvd., 4th Floor, BALA Cynwyd,
    PA, 19004

    Email: adonofrio@hamiltonlane.com
	 	By: Hamilton Lane Co-Investment GP IV LLC, its General Partner

    Name: Anthony Donofrio, Authorized Person

    Address: 1 Presidential Blvd., 4th Floor, BALA Cynwyd,
    PA, 19004

    Email: adonofrio@hamiltonlane.com

	 	 	 
	 	 	 
	HAMILTON LANE PRIVATE MARKETS OPPORTUNITY FUND LP,
    FUND-OF-FUNDS SERIES	 	HAMILTON LANE PRIVATE EQUITY
    FUND X HOLDINGS LP
	 	 	 
	By: HL PMOF GP LLC, Its General Partner

    Name: Anthony Donofrio, Authorized Person

    Address: 1 Presidential Blvd., 4th Floor, BALA Cynwyd,
    PA, 19004

    Email: adonofrio@hamiltonlane.com
	 	By: HAMILTON LANE GP X LLC, its general partner

    Name: Anthony Donofrio, Authorized Person

    Address: 1 Presidential Blvd., 4th Floor, BALA Cynwyd,
    PA, 19004

    Email: adonofrio@hamiltonlane.com

	 	 	 
	 	 	 
	HL PRIVATE ASSETS HOLDINGS LP	 	TARRAGON MASTER FUND LP
	 	 	 
	By: HL GPA LLC, its General Partner

    Name: Anthony Donofrio, Authorized Person

    Address: 1 Presidential Blvd., 4th Floor, BALA Cynwyd,
    PA, 19004

    Email: adonofrio@hamiltonlane.com
	 	By: Tarragon GP LLC, its General Partner

    Name: Anthony Donofrio, Authorized Person

    Address: 1 Presidential Blvd., 4th Floor, BALA Cynwyd,
    PA, 19004

    Email: adonofrio@hamiltonlane.com

	 	 	 
	Attention (for notices):	 	 
	Megan M. Howell

    Stone Pine Accounting Services, LLC

    4643 South Ulster Street, Suite 700

    Denver, CO 80237-2865

    Phone: 303-446-5926

    Fax: 303-446-5935

    monitor@stonepineaccounting.com
	 	Notices to Hamilton Lane entities shall be
    delivered with a copy (which shall NOT constitute a valid notice for the purposes of any agreement) to:

    Yair Udi & Co. – Law Offices

    11 Menachem Begin Rd., Rogovin Tidhar Tower,
    16th floor, Ramat Gan, Israel

    Attention: Yair Udi, Adv.

    Telephone No.: +972.3.540.6885

    Facsimile No.: +972.3.540.6886

    E-mail: yair@yairudi.com

	 	 	 
	Roger Chheng, Associate

    Hamilton Lane

    One Presidential Boulevard, 4th Fl.

    Bala Cynwyd, PA 19004

    Phone: 610-617-6466

    Fax: 610-617-9853

    monitor@hamiltonlane.com
	 	 
	 	 	 
	Denise Ayala, Paralegal

    Hamilton Lane

    One Presidential Boulevard, 4th Fl.

    Bala Cynwyd, PA 19004

    Phone: 610-617-6029

    Fax: 610-617-9853

    legal@hamiltonlane.com
	 	 

 

[Company Signature
Page (6) to monday.com – Amended and Restated Investors Rights’ Agreement]

 

     

     

    

 

IN WITNESS WHEREOF, the parties
hereto have executed this Amended and Restated Investors’ Rights Agreement as of the first date written above.

 

INVESTORS:

 

	 	 	 
	ICP M1, L.P.	 	 
	 	 	 
	
    By: its General
    Partner:

    ION CROSSOVER
    PARTNERS GP L.P.,

    By: ION Crossover
    Partners Fund Ltd., as general partner

     
	 	 
	By:	                  	 	 
	
    Name: Gilad Shany

    Title: Director

    Address: 89 Medinat
    Ha'Yehudim Street, 13th Floor, Herzliya, Israel

    Email: gilad@ion-am.com
	 	 

 

[Company Signature
Page (7) to monday.com – Amended and Restated Investors Rights’ Agreement] 

 

     

     

    

 

IN WITNESS WHEREOF, the parties
hereto have executed this Amended and Restated Investors’ Rights Agreement as of the first date written above.

 

INVESTORS:

 

	Vintage Co-Investment Fund II (Cayman), L.P.,  	 
	 	 
	Vintage Co-Investment Fund II (Israel), L.P., 	 
	 	 
	Vintage Opportunity Fund L.P. 	 
	 	 
	VINTAGE SECONDARY FUND IV, L.P.	 

 

 

	By: 	       	 	 
	
    Name: Alan Feld / Abe Finkelstein

    Title: Partners

    Address: 12 Abba Eban Ave. Herzliya Pituach

    Email: 
	 	 

 

	 	 
	 	 
	GL-OP-1, L.P.	 
	Name: 	Aviad Eyal, General Partner	 
	Address:	     	 
	Email:	 	 
	 	 
		 
	 	 
	Grace Software Cross Fund Holdings, L.P.	 
	By: Grace Holdings II GP, LLC, its general partner	 
	By:	       	 	 
	 	Name: Blair Flicker	 
	 	Title: Authorized Officer	 
	Address: c/o Insight Venture Partners	 
	1114 Avenue of the Americas, 36th Floor, New York, New York 10036	 
	Attn: Blair Flicker, General Counsel	 
	bflicker@insightpartners.com	 

 

[Company Signature
Page (8) to monday.com – Amended and Restated Investors Rights’ Agreement] 

 

     

     

    

 

IN WITNESS WHEREOF, the parties
hereto have executed this Amended and Restated Investors’ Rights Agreement as of the first date written above.

 

	INVESTORS:	 
	 	 
	SALESFORCE VENTURES LLC	 
	 	 
	 	   
	By:	      	 
	 	 
	Name:	 	 
	 	 
	Title:	 	 
	 	 
	Address:	 	 
	 	 
	Email:	 	 
	 	 

 

[Company Signature
Page (9) to monday.com – Amended and Restated Investors Rights’ Agreement]  

 

     

     

    

 

IN WITNESS WHEREOF, the parties
hereto have executed this Amended and Restated Investors’ Rights Agreement as of the first date written above.

 

	INVESTORS:	 
	 	 
	 	 
	ZOOM VIDEO COMMUNICATIONS, INC.	 
	 	 
	 	 
	By:	                    	 
	 	 
	Name:	 	 
	 	 
	Title:	 	 
	 	 
	Address:	 	 
	 	 
	Email:	 	 

 

[Company Signature
Page (10) to monday.com – Amended and Restated Investors Rights’ Agreement]Exhibit 10.1

 

INDEMNIFICATION AGREEMENT

 

THIS INDEMNIFICATION AGREEMENT (the “Agreement”),
dated as of                   ,
20    , is entered into by and between monday.com Ltd., an Israeli company whose address is 52 Menachem Begin Rd., Tel-Aviv, Israel
(the “Company”), and the undersigned Director or Officer of the Company whose name appears on the signature page hereto
officer (the “Indemnitee”).

 

	WHEREAS,	Indemnitee is an Office Holder (“Nosse Misra”), as such term is defined in the Companies
Law, 5759–1999, as amended (the “Office Holder” and the “Companies Law” respectively), 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 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 of Association”)
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;

 

	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; and

 

	WHEREAS,	in recognition of Indemnitee’s need for substantial protection
against personal liability 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 the indemnification, insurance and exculpation afforded by the
Articles of Association will be available to Indemnitee, the Company wishes to undertake in this Agreement for the 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 and exculpation of Indemnitee as set forth in this Agreement.

 

NOW,
THEREFORE, the parties hereto agree as follows:

 

		1.	INDEMNIFICATION AND INSURANCE.

 

		1.1.	The Company hereby undertakes to indemnify Indemnitee to
the fullest extent permitted by applicable law for any liability and expense specified in Sections 1.1.1 through 1.1.4 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, including, without limitation, as a director, officer, employee, agent or fiduciary of the Company, any
subsidiary thereof or any other corporation, collaboration, partnership, joint venture, trust or other enterprise, in which Indemnitee
serves 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 or 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.	Financial liability imposed on Indemnitee in favor of any
person pursuant to a judgment, including a judgment rendered in the context of a settlement or an arbitrator’s award approved by
a court. For purposes of Section 1 of this Agreement, the term “person” shall include, without limitation,
a natural person, firm, partnership, joint venture, trust, company, corporation, limited liability entity, unincorporated organization,
estate, government, municipality, or any political, governmental, regulatory or similar agency or body;

 

     

    - 2 -

    

 

		1.1.2.	Reasonable Expenses (as defined below) expended by Indemnitee as a result of an investigation or any proceeding instituted against
the Indemnitee by an authority that is authorized to conduct such investigation or proceeding, and that was concluded without filing an
indictment against the Indemnitee and without imposing on the Indemnitee a financial liability in lieu of a criminal proceeding, or that
was concluded without filing an indictment against the Indemnitee but imposing a financial liability in lieu of a criminal proceeding
in an offence that does not require proof of mens rea, or in connection with a financial sanction. In this section “conclusion
of a proceeding without filing an indictment in a matter in which a criminal investigation has been instigated” and “financial
liability in lieu of a criminal proceeding” shall have the meaning assigned to such terms under the Companies Law, and the term
 “financial sanction” shall mean such term as referred to in Section 260(a)(1a) of the Companies Law;

 

		1.1.3.	Reasonable Expenses expended by or imposed on Indemnitee by a court, in a proceeding instituted against Indemnitee by the Company
or on its behalf or by another person, or in a criminal charge from which Indemnitee was acquitted or in which Indemnitee convicted of
an offence that does not require proof of mens rea; and

 

		1.1.4.	Any other event, occurrence, matter or circumstances under any law with respect to which the Company may, or will be able to, indemnify
an Office Holder (including, without limitation, in accordance with Section 56h(b)(1) of the Israeli Securities Law 5728-1968
(the “Israeli Securities Law”), if applicable, and Section 50P(b)(2) of the Israeli Economic Competition
Law, 5758-1988 (the “Economic Competition Law”)).

 

For the purpose of this Agreement, “Expenses”
shall include, without limitation, legal fees and all other costs, expenses and obligations paid or incurred by Indemnitee in connection
with investigating, defending, being a witness in or participating in (including on appeal), or preparing to defend, be a witness in or
participate in any claim, action, suit, proceeding, alternative dispute resolution mechanism, hearing, inquiry or investigation relating
to any matter for which indemnification hereunder may be provided. Expenses shall be considered paid or incurred by Indemnitee at such
time as Indemnitee is required to pay or incur such cost or expenses, including upon receipt of an invoice or payment demand. The Company
shall pay the Expenses in accordance with the provisions of Section1.3.

 

     

    - 3 -

    

 

		1.2.	Notwithstanding anything herein to the contrary, the Company’s
undertaking to indemnify the Indemnitee under Section 1.1.1 shall only be with respect to events described in Exhibit A
hereto. The Board of Directors of the Company (the “Board”) has determined that the categories of events listed in
Exhibit A are foreseeable in light of the
operations of the Company. The maximum amount of indemnification payable by the Company under Section 1.1.1 with respect to
the specific events described in Exhibit A during any period of five years, shall be as set forth in Exhibit A hereto (the “Limit
Amount”). If the Company undertook to indemnify multiple persons under agreements similar to this Agreement (the “Indemnifiable
Persons”) the Limit Amount for the five year period commencing on the closing of the first issuance and sale of the Company’s
ordinary shares to the public, pursuant to an effective registration statement under the United States Securities Act 1933, as amended,
or the securities law of any other jurisdiction, and for every subsequent five year period, shall apply to all Indemnifiable Persons,
in the aggregate, and if the Limit Amount is insufficient to cover all the indemnity amounts payable with respect to all Indemnifiable
Persons during the relevant five year period, then such amount shall be allocated to such Indemnifiable Persons pro rata according to
the percentage of their culpability, as finally determined by a court in the relevant claim, or, absent such determination or in the event
such persons are parties to different claims, based on an equal pro rata allocation among such Indemnifiable Persons. The Limit Amount
payable by the Company as described in Exhibit A is deemed by the Company to be reasonable in light of the circumstances. The indemnification
provided under Section 1.1.1 herein shall not be subject to the limitations imposed by this Section 1.2 and Exhibit A if
and to the extent such limits do not or are no longer required by the Companies Law.

 

		1.3.	If so requested by Indemnitee in writing, and subject to
the Company’s repayment and reimbursements rights set forth in Sections 3 and 5 below, the Company shall pay amounts to cover
Indemnitee’s Expenses with respect to which Indemnitee is entitled to be indemnified under Section 1.1 above, as and when incurred.
The payments of such amounts shall be made by the Company directly to the Indemnitee’s legal and other advisors, as soon as practicable,
but in any event no later than fifteen (15) days after written demand by such Indemnitee 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
Indemnitee any security or guarantee that Indemnitee 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 Indemnitee’s assets.

 

		1.4.	The Company’s obligation to indemnify Indemnitee and
advance Expenses in accordance with this Agreement shall be for such period (the “Indemnification Period”) as Indemnitee
shall be subject to any actual, possible or threatened claim, action, suit, demand or proceeding or any inquiry or investigation, whether
civil, criminal or investigative, arising out of the Indemnitee’s service in the Corporate Capacity as described in Section 1.1
above, whether or not Indemnitee is still serving in such position.

 

		1.5.	The Company undertakes that, subject to the mandatory limitations under applicable law, as long as it may be obligated to provide
indemnification and advance Expenses under this Agreement, the Company will purchase and maintain in effect directors and officers liability
insurance, which will include coverage for the benefit of the Indemnitee, providing coverage in amounts as reasonably determined by the
Board; provided that, the Company shall have no obligation to obtain or maintain directors and officers insurance policy if the Company
determines in good faith that such insurance is not reasonably available, the premium costs for such insurance are disproportionate to
the amount of coverage provided, or the coverage provided by such insurance is so limited by exclusions that it provides an insufficient
benefit. The Company hereby undertakes to notify the Indemnitee 30 days prior to the expiration or termination of the directors and officers
liability insurance.

 

		1.6.	The Company undertakes to give prompt written notice of the commencement of any claim hereunder to
                                                                  the insurers in accordance with the procedures set forth in each of the policies. The Company shall thereafter diligently take all
                                                                  actions reasonably necessary under the circumstances to cause such insurers to pay, on behalf of Indemnitee, all amounts payable as
                                                                  a result of such action, suit, proceeding, inquiry or investigation in accordance with the terms of such policies. The above shall
                                                                  not derogate from Company’s authority to freely negotiate or reach any compromise with the insurer which is reasonable at the
                                                                  Company’s sole discretion provided that the Company shall act in good faith and in a diligent manner.

 

     

    - 4 -

    

 

		2.	SPECIFIC LIMITATIONS ON INDEMNIFICATION.

 

Notwithstanding anything to the contrary
in this Agreement, the Company shall not indemnify or advance Expenses to Indemnitee with respect to (i) any act, event or circumstance
with respect to which it is prohibited to do so under applicable law, or (ii) a counter claim made by the Company or in its name
in connection with a claim against the Company filed by the Indemnitee.

 

		3.	REPAYMENT OF EXPENSES.

 

		3.1.	In the event that the Company provides or is required to provide indemnification with respect to Expenses hereunder and at any time
thereafter the Company determines, based on advice from its legal counsel, that the Indemnitee was not entitled to such payments, the
amounts so indemnified by the Company will be promptly repaid by Indemnitee, unless the Indemnitee disputes the Company’s determination,
in which case the Indemnitee’s obligation to repay to the Company shall be postponed until such dispute is resolved.

 

		3.2.	Indemnitee’s obligation to repay to the Company for any Expenses or other sums paid hereunder shall be deemed as a loan given
to Indemnitee by the Company subject to the minimum interest rate prescribed by Section 3(9) of the Income Tax Ordinance [New
Version], 1961, or any other legislation replacing it, which is not considered a taxable benefit.

 

		4.	SUBROGATION.

 

In the event of payment under this Agreement,
the Company shall be subrogated to the extent of such payment to all of the rights of recovery of Indemnitee, who shall execute all documents
required and shall do everything that may be necessary to secure such rights, including the execution of such documents necessary to enable
the Company effectively to bring suit to enforce such rights.

 

		5.	REIMBURSEMENT.

 

The Company shall not be liable under
this Agreement to make any payment in connection with any Indemnifiable Event to the extent Indemnitee has otherwise actually received
payment under any insurance policy or otherwise (without any obligation of Indemnitee to repay any such amount) of the amounts otherwise
indemnifiable hereunder. Any amounts paid to Indemnitee under such insurance policy or otherwise after the Company has indemnified Indemnitee
for such liability or Expense shall be repaid to the Company promptly upon receipt by Indemnitee, in accordance with the terms set forth
in Section 3.2.

 

The Company hereby acknowledges that
the Indemnitee has now or may have in the future certain rights to indemnification, advancement of expenses and/or insurance provided
by third parties (the “Third Party Indemnitor”), and the Company hereby agrees (i) that the Company is the indemnitor
of first resort (i.e., its obligations to the Indemnitee are primary and any obligation of any Third Party Indemnitor to advance expenses
or to provide indemnification for the same expenses or liabilities incurred by the Indemnitee are secondary), (ii) it shall be required
to advance the full amount of expenses incurred by the Indemnitee and shall be liable for the full amount of all expenses, judgments,
penalties, fines and amounts paid in settlement to the fullest extent legally permitted and as required by the terms of this Agreement
and/or the Articles of Association (or any other agreement between the Company and the Indemnitee), without regard to any rights the
Indemnitee may have against the Third Party Indemnitors, and (iii) that it irrevocably waives, relinquishes and releases any Third Party
Indemnitor from any and all claims against any Third Party Indemnitor for contribution, subrogation or any other recovery of any kind
of respect of the subject matters of this Agreement. Without altering or expanding any of the Company's indemnification obligations hereunder,
the Company further agrees that no advancement or payment by any Third Party Indemnitor on the Indemnitee's behalf with respect to any
claim for which Indemnitee has sought indemnification from the Company shall affect the foregoing and any Third Party Indemnitor shall
have a right of contribution and/or be subrogated to the extent of such advancement or payment to all of the rights of recovery of the
Indemnitee against the Company. The Company and the Indemnitee agree that the Third Party Indemnitors are express third party beneficiaries
of the terms of this Section 5.

 

		6.	EFFECTIVENESS.

 

The Company represents and warrants
that this Agreement is valid, binding and enforceable in accordance with its terms and was duly adopted and approved by the Company, and
shall be in full force and effect immediately upon its execution.

 

     

    - 5 -

    

 

		7.	NOTIFICATION AND DEFENSE OF CLAIM.

 

Indemnitee shall notify the
Company of the commencement of any action, suit or proceeding, and of the receipt of any notice or threat that any such legal
proceeding has been or shall or may be initiated against Indemnitee (including any proceedings by or against the Company and any
subsidiary thereof), promptly upon Indemnitee first becoming so aware; but the omission so to notify the Company will not relieve
the Company from any liability which it may have to Indemnitee under this Agreement unless and to the extent that such failure to
provide notice prejudices the Company’s ability to defend such action. Notice to the Company shall be directed to the Chief
Executive Officer or Chief Financial Officer of the Company at the address shown in the preamble to this Agreement (or such other
address as the Company shall designate in writing to Indemnitee). With respect to any such action, suit or proceeding as to which
Indemnitee notifies the Company of the commencement thereof and without derogating from Sections 1.1 and 2:

 

		7.1.	The Company will be entitled to participate therein at its own expense.

 

		7.2.	Except as otherwise provided below, the Company, alone or jointly with any other indemnifying party similarly notified, will be entitled
to assume the defense thereof, with counsel selected by the Company. Indemnitee shall have the right to employ his or her own counsel
in such action, suit or proceeding, but the fees and expenses of such counsel incurred after notice from the Company of its assumption
of the defense thereof shall be at the expense of Indemnitee, unless: (i) the employment of counsel by Indemnitee has been authorized
in writing by the Company; (ii) the Company, in good faith, reasonably concluded that there may be a conflict of interest between
the Company and Indemnitee in the conduct of the defense of such action; or (iii) the Company has not in fact employed counsel to
assume the defense of such action within reasonable time, in which cases the reasonable fees and expenses of Indemnitee’s counsel
shall be at the expense of the Company. The Company shall not be entitled to assume the defense of any action, suit or proceeding brought
by or on behalf of the Company or as to which Indemnitee and the Company shall have reached the conclusion specified in (ii) above.

 

		7.3.	The Company shall not be liable to indemnify Indemnitee under this Agreement for any amounts or expenses paid in connection with a
settlement of any action, claim or otherwise, effected without the Company’s prior written consent.

 

		7.4.	The Company shall have the right to conduct the defense
as it sees fit in its sole discretion (provided that the Company shall conduct the defense in good faith and in a diligent manner), including
the right to settle or compromise any claim or to consent to the entry of any judgment against Indemnitee without the consent of the Indemnitee,
provided that, the amount of such settlement, compromise or judgment does not exceed the Limit Amount (if applicable) and is fully indemnifiable
pursuant to this Agreement (subject to Section 1.2 of this Agreement) and/or applicable law, and any such settlement, compromise
or judgment does not impose any penalty or limitation on Indemnitee without the Indemnitee’s prior written consent. The Indemnitee’s
consent shall not be required if the settlement includes a complete release of Indemnitee, does not contain any admission of wrong-doing
by Indemnitee, and includes monetary sanctions only as provided above. In the case of criminal proceedings the Company and/or its legal
counsel will not have the right to plead guilty or agree to a plea-bargain in the Indemnitee’s name without the Indemnitee’s
prior written consent. Neither the Company nor Indemnitee will unreasonably withhold or delay their consent to any proposed settlement.

 

		7.5.	Indemnitee shall fully cooperate with the Company and shall give the Company all information and access to documents, files and to
his or her advisors and representatives as shall be within Indemnitee’s power, in every reasonable way as may be required by the
Company with respect to any claim which is the subject matter of this Agreement and in the defense of other claims asserted against the
Company (other than claims asserted by Indemnitee), provided that the Company shall cover all expenses, costs and fees incidental thereto
such that the Indemnitee will not be required to pay or bear such expenses, costs and fees.

 

     

    - 6 -

    

 

		8.	EXCULPATION.

 

Subject to the provisions of the Companies
Law, the Company hereby releases, in advance, the Office Holder from liability for any damage that arises from the breach of the Office
Holder’s duty of care (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).

 

		9.	NON-EXCLUSIVITY.

 

The rights of the Indemnitee hereunder
shall not be deemed exclusive of any other rights Indemnitee may have under the Articles of Association, applicable law or otherwise,
and to the extent that during the Indemnification Period the indemnification rights of the then serving directors and officers
are more favorable to such directors or officers than the indemnification rights provided under this Agreement to Indemnitee, Indemnitee
shall be entitled to the full benefits of such more favorable indemnification rights to the extent permitted by law.

 

		10.	PARTIAL INDEMNIFICATION.

 

If
Indemnitee is entitled under any provision of this Agreement to indemnification by the Company for some or a portion of the expenses,
judgments, fines or penalties actually or reasonably incurred by Indemnitee in connection with any proceedings, but not, however, for
the total amount thereof, the Company shall nevertheless indemnify Indemnitee for the portion of such expenses, judgments, fines or penalties
to which Indemnitee is entitled under any provision of this Agreement. Subject to the provisions of Section 5 above, any amount
received by Indemnitee (under any insurance policy or otherwise) shall not reduce the Limit Amount hereunder and shall not derogate from
the Company’s obligation to indemnify the Indemnitee in accordance with the provisions of this Agreement up to the Limit Amount,
as set forth in Section 1.2.

 

		11.	BINDING EFFECT.

 

This Agreement shall be binding upon
and inure to the benefit of and be enforceable by the parties hereto and their respective successors and permitted assigns. In the event
of a merger or consolidation of the Company or a transfer or disposition of all or substantially all of the business or assets of the
Company, the Indemnitee shall be entitled to the same indemnification and insurance provisions as the most favorable indemnification and
insurance provisions afforded to the then-serving Office Holders of the Company. In the event that in connection with such transaction
the Company purchases a directors and officers’ “tail” or “run-off” policy for the benefit of its then serving
Office Holders, then such policy shall cover Indemnitee and such coverage shall be deemed to be in satisfaction of the insurance requirements
under this Agreement. This Agreement shall continue in effect during the Indemnification Period regardless of whether Indemnitee continues
to serve in a Corporate Capacity.

 

Any amendment
to the Companies Law, the Israeli Securities Law, the Economic Competition Law or other applicable law adversely affecting the right of
the Indemnitee to be indemnified, insured or released pursuant hereto shall be prospective in effect, and shall not affect the Company’s
obligation or ability to indemnify or insure the Indemnitee for any act or omission occurring prior to such amendment, unless otherwise
provided by applicable law.

 

		12.	SEVERABILITY.

 

The provisions of this Agreement shall
be deemed severable and the invalidity or unenforceability of any provision shall not affect the validity or enforceability of the other
provisions hereof. If any provision of this Agreement, or the application thereof or any circumstance, is invalid or unenforceable, (a) a
suitable and equitable provision shall be substituted therefor in order to carry out, so far as may be valid and enforceable, the intent
and purpose of such invalid or unenforceable provision and (b) the remainder of this Agreement and the application of such provision
or circumstances shall not be affected by such invalidity or unenforceability, nor shall such invalidity or unenforceability affect the
validity or enforceability of such provision, or the application thereof, in any other jurisdiction.

 

     

    - 7 -

    

 

		13.	NOTICE.

 

All notices and other communications
pursuant to this Agreement shall be in writing and shall be deemed provided if delivered personally, telecopied, sent by electronic facsimile,
email, reputable overnight courier or mailed by registered or certified mail (return receipt requested), postage prepaid, to the parties
at the addresses shown in the preamble to this Agreement, or to such other address as the party to whom notice is to be given may have
furnished to the other party hereto in writing in accordance herewith. Any such notice or communication shall be deemed to have been delivered
and received (i) in the case of personal delivery, on the date of such delivery, (ii) in the case of telecopier or an electronic
facsimile or email, one business day after the date of transmission if confirmation of receipt is received, (iii) in the case of
a reputable overnight courier, three business days after deposit with such reputable overnight courier service, and (iv) in the case
of mailing, on the seventh business day following that on which the mail containing such communication is posted.

 

		14.	GOVERNING LAW; JURISDICTION.

 

This Agreement shall be governed by
and construed and enforced in accordance with the laws of the State of Israel, without giving effect to the conflicts of law provisions
of those laws. The Company and Indemnitee each hereby irrevocably consent to the exclusive jurisdiction and venue of the courts of Tel
Aviv, Israel for all purposes in connection with any action or proceeding which arises out of or relates to this Agreement.

 

		15.	ENTIRE AGREEMENT.

 

This Agreement represents the entire
agreement between the parties and supersedes any other agreements, contracts or understandings between the parties, whether written or
oral, with respect to the subject matter of this Agreement.

 

		16.	NO MODIFICATION AND NO WAIVER.

 

No supplement, modification or amendment,
termination or cancellation of this Agreement shall be binding unless executed in writing by both of the parties hereto. No waiver of
any of the provisions of this Agreement shall be deemed or shall constitute a waiver of any other provisions hereof (whether or not similar)
nor shall such waiver constitute a continuing waiver. Any waiver shall be in writing. The Company hereby undertakes not to amend its Articles
of Association in a manner which will adversely affect the provisions of this Agreement.

 

		17.	ASSIGNMENTS; NO THIRD PARTY RIGHTS

 

Neither party hereto may assign any
of its rights or obligations hereunder except with the express prior written consent of the other party. Nothing herein shall be deemed
to create or imply an obligation for the benefit of a third party, except as set forth in Section 5. Without limitation of the foregoing, nothing herein shall be deemed
to create any right of any insurer that provides directors and officers’ liability insurance, to claim, on behalf of Indemnitee,
any rights hereunder.

 

		18.	INTERPRETATION; DEFINITIONS.

 

Unless the context shall otherwise
require: words in the singular shall also include the plural, and vice versa; any pronoun shall include the corresponding masculine,
feminine and neuter forms; the words “include”, “includes” and “including” shall be deemed to be
followed by the phrase “without limitation”; the words “herein”, “hereof” and
 “hereunder” and words of similar import refer to this Agreement in its entirety and not to any part hereof; all
references herein to Sections or clauses shall be deemed references to Sections or clauses of this Agreement; any references to any
agreement or other instrument or law, statute or regulation are to it as amended, supplemented or restated, from time to time (and,
in the case of any law, to any successor provisions or re- enactment or modification thereof being in force at the time); any
reference to “law” shall include any supranational, national, federal, state, local, or foreign statute or law and all
rules and regulations promulgated thereunder; any reference to a “day” or a number of “days” (without
any explicit reference otherwise, such as to business days) shall be interpreted as a reference to a calendar day or number of
calendar days; reference to month or year means according to the Gregorian calendar; reference to a “company”,
 “corporate body” or “entity” shall include a, partnership, firm, company, corporation, limited liability
company, association, joint venture, trust, unincorporated organization, estate, or a government municipality or any political,
governmental, regulatory or similar agency or body, and reference to a “person” shall mean any of the foregoing or a
natural person.

 

     

    	 	- 8 -	 

    

 

		19.	COUNTERPARTS

 

This Agreement may be executed in any
number of counterparts, each of which shall be deemed an original and enforceable against the parties actually executing such counterpart,
and all of which together shall constitute one and the same instrument; it being understood that parties need not sign the same counterpart.
The exchange of an executed Agreement (in counterparts or otherwise) by facsimile or by electronic delivery in pdf format shall be sufficient
to bind the parties to the terms and conditions of this Agreement, as an original.

 

[SIGNATURE PAGE TO FOLLOW]

 

     

    	 	- 9 -	 

    

 

IN WITNESS WHEREOF,
the parties, each acting under due and proper authority, have executed this Indemnification Agreement as of the date first mentioned above,
in one or more counterparts.

 

	monday.com
    Ltd.	 
	By:	 	 
	Name and title:	 	 

 

	Indemnitee:	 
	Name:	 	 
	Signature:	 	 
	Address:	 	 

 

     

    	 	- 10 -	 

    

 

EXHIBIT A*

 

	 	CATEGORY OF INDEMNIFIABLE EVENT
	 	 
	1.	Matters, events, occurrences or circumstances in connection or associated with employment relationships with employees or consultants or any employee union or similar or comparable organization.
	 	 
	2.	Matters, events, occurrences or circumstances in connection or associated with business relations of any kind between the Company and its employees, independent contractors, customers, suppliers, partners, distributors, agents, resellers, representatives, licensors, licensees, service providers and other business associates.
	 	 
	3.	Negotiations, execution, delivery and performance of agreements of any kind or nature and any decisions or deliberations relating to actions or omissions relating to the foregoing; any acts, omissions or circumstances that do or may constitute or are alleged to constitute anti- competitive acts, acts of commercial wrongdoing, or failure to meet any standard of conduct which is or may be applicable to such acts, omissions or circumstances.
	 	 
	4.	Approval of and recommendation or information provided to shareholders with respect to any and all corporate actions, including the approval of the acts of the Company’s management, their guidance and their supervision, matters relating to the approval of transactions with Office Holders (including, without limitation, all compensation related matters) or shareholders, including controlling persons and claims and allegations of failure to exercise business judgment, reasonable level of proficiency, expertise, care or any other applicable standard, with respect to the foregoing or otherwise with respect to the Company’s business, strategy, operations and prospective outlook, and any discussions, deliberations, reviews or other preparatory or preliminary phases relating to any of the foregoing.
	 	 
	5.	Violation, infringement, misappropriation, dilution and other misuse of copyrights, patents, designs, trade secrets, confidential information, proprietary information and any intellectual property rights, acts in connection with the registration, assertion or protection of rights to intellectual property and the defense of claims related to intellectual property, breach of confidentiality obligations, acts in regard of invasion of privacy or any violation of privacy or privacy related right or regulation, including with respect to databases or handling, collection or use of private information, acts in connection with slander and defamation, and claims in connection with publishing or providing any information, including any filings with any governmental authorities, whether or not required under any applicable laws.
	 	 
	6.	
    Violations of or failure to
    comply with securities laws, and any regulations or other rules promulgated thereunder, of any jurisdiction, including without
    limitation, claims under the U.S. Securities Act of 1933 or the U.S. Exchange Act of 1934 or under the Israeli Securities Law,
    fraudulent disclosure claims, failure to comply with any securities authority or any stock exchange disclosure or other
    rules and any other claims relating to relationships with investors, debt holders, shareholders, optionholders, holders of any
    other equity or debt instrument of the Company, and otherwise with the investment community (including without limitation any such
    claims relating to a merger, acquisition, change in control transaction, issuance of securities, restructuring, spin out, spin off,
    divestiture, recapitalization or any other transaction relating to the corporate structure or organization of the Company); claims
    relating to or arising out of financing arrangements, any breach of financial covenants or other obligations towards investors,
    lenders or debt holders, class actions, violations of laws requiring the Company to obtain regulatory and governmental licenses,
    permits and authorizations in any jurisdiction, including in connection with disclosure, offering or other transaction related
    documents; actions taken in connection with the issuance, purchase, holding or disposition of any type of securities of Company,
    including, without limitation, the grant of options, warrants or other rights to purchase any of the same or any offering of the
    Company’s securities (whether on behalf of the Company or on behalf of any holders of securities of the Company) to private
    investors, underwriters, resellers or to the public, and listing of such securities, or the offer by the Company to purchase
    securities from the public or from private investors or other holders, and any undertakings, representations, warranties and other
    obligations related to any of the foregoing or to the Company’s status as a public company or as an issuer of securities.

 

     

    	 	- 11 -	 

    

 

	7.	Liabilities arising in connection with any products or services
developed, distributed, rendered, sold, provided, licensed or marketed
by the Company or any Affiliate thereof, and any actions or omissions in connection with the distribution, provision, sale, marketing,
license or use of such products or services, including without limitation in connection with professional liability and product liability
claims or regulatory or reputational matters.

 

	8.	The offering of securities by the Company (whether on behalf of itself or on behalf of any holder of securities and any other person)
to the public and/or to offerees or the offer by the Company to purchase securities from the public and/or from private investors or other
holders pursuant to a prospectus, offering documents, agreements, notices, reports, tenders and/or other processes.

 

	9.	Events, facts or circumstances in connection with change in ownership or in the structure of the Company, its reorganization, dissolution,
winding up, any other arrangements concerning creditors rights, merger, change in control, issuances of securities, restructuring, spin
out, spin off, divestiture, recapitalization or any other transaction relating to the corporate structure or organization of the Company,
and the approval of failure to approve of any corporate actions and any matters relating to corporate governance, capital structure, articles
of association or other charter or governance documents, appointment or dismissal of office holders or compensation thereof and appointment
or dismissal of auditors, internal auditor or any other person performing any services for the Company.

 

	10.	Any claim or demand made in connection with any transaction not in the ordinary course of business of the Company, as well as the
sale, lease, purchase or acquisition of, or the receipt or grant of any rights with respect to, any assets or business.

 

	11.	Any claim or demand made by any third party suffering any personal injury and/or bodily injury or damage to business or personal property
or any other type of damage through any act or omission attributed to the Company, or its employees, agents or other persons acting or
allegedly acting on its behalf, including, without limitation, failure to make proper safety arrangements for the Company or its employees
and liabilities arising from any accidental or continuous damage or harm to the Company’s employees, its contractors, its guests
and visitors as a result of an accidental or continuous event, or employment conditions, permanent or temporary, in the Company’s
offices.

 

	12.	Any claim or demand made directly or indirectly in connection with complete or partial failure, by the Company or its directors, officers
and employees, to pay, report, keep applicable records or otherwise, of any local or foreign federal, state, county, municipal or city
taxes or other taxes or compulsory payments of any nature whatsoever, including, without limitation, income, sales, use, transfer, excise,
value added, registration, severance, stamp, occupation, customs, duties, real property, personal property, capital stock, social security,
unemployment, disability, payroll or employee withholding or other withholding, including any interest, penalty or addition thereto, whether
disputed or not.

 

     

    	 	- 12 -	 

    

 

	13.	Any administrative, regulatory, judicial or civil actions orders,decrees, suits, demands, demand letters, directives, claims, liens,
investigations, proceedings or notices of noncompliance or violation by any governmental entity or other person alleging potential responsibility
or liability (including potential responsibility or liability for costs of enforcement investigation, cleanup, governmental response,
removal or remediation, for natural resources damages, property damage, personal injuries or penalties or for contribution, indemnification, cost recovery, compensation or injunctive relief) arising out of, based on or related to (a) the presence of, release, spill, emission, leaning, dumping, pouring, deposit, disposal, discharge, leaching or migration into the environment (each a “Release”) or threatened Release of, or exposure to, any hazardous, toxic, explosive or radioactive substances, wastes or other pollutants, including petroleum or petroleum distillates, asbestos or asbestos-containing material, polychlorinated biphenyls (“PCBs”) or PCB-containing materials or equipment, radon gas, infectious or medical wastes and all other substances or wastes of any nature regulated pursuant to any environmental law, at any location, whether or not owned, operated, leased or managed by the Company or any of its subsidiaries, or (b) circumstances forming the basis of any violation of any environmental law or environmental permit, license, registration or other authorization required under applicable environmental law.

 

	14.	Any administrative, regulatory or judicial actions, orders, decrees, suits, demands, demand letters, directives, claims, liens, investigations, proceedings or notices of noncompliance or violation by any governmental or regulatory entity or authority or any other person alleging the failure to comply with any statute, law, ordinance, rule, regulation, order or decree of any governmental entity applicable to the Company or any of its businesses, assets or operations, or the terms and conditions of any operating certificate or licensing agreement.
	 	 
	15.	Participation and/or non-participation at Company Board meetings, expression of opinion or view and/or voting and/or abstention from voting at Company Board meetings, including, in each case, any committee thereof, as well as expression of opinion publicly in connection with the service as an Office Holder.
	 	 
	16.	Review and approval of the Company’s financial statements and any specific items or matters within, including any action, consent or approval related to or arising from the foregoing, including, without limitations, engagement of or execution of certificates for the benefit of third parties related to the financial statements.
	 	 
	17.	Violation of laws, rules or regulations requiring the Company to obtain regulatory and governmental licenses, permits and authorizations (including without limitation relating to export, import, encryption, antitrust or competition authorities) or laws related to any governmental grants in any jurisdiction.
	 	 
	18.	Resolutions and/or actions relating to investments in the Company and/or its subsidiaries and/or affiliated companies and/or investment in corporate or other entities and/or investments in other traded or non-traded securities and/or any other form of investment.
	 	 
	19.	Liabilities arising out of advertising, including misrepresentations regarding the Company's products or services and unlawful distribution of emails.
	 	 
	20.	Management of the Company’s bank accounts, including money management, foreign currency deposits, securities, loans and credit facilities, credit cards, bank guarantees, letters of credit, consultation agreements concerning investments including with portfolio managers, hedging transactions, options, futures, and the like.
	 	 
	21.	All actions, consents and approvals, including any prior discussions, reviews and deliberations, relating to a distribution of dividends, in cash or otherwise, or to any other "distribution" as such term is defined under the Companies Law.

 

     

    	 	- 13 -	 

    

 

	22.	Any
    administrative, regulatory, judicial, civil or criminal, actions orders, decrees, suits, demands, demand letters, directives,
    claims, liens, investigations, proceedings or notices of noncompliance, violation or breaches alleging potential responsibility,
    liability, loss or damage (including potential responsibility or liability for costs of enforcement, investigation, cleanup, governmental response, removal or remediation, property damage or penalties, or for contribution, indemnification, cost recovery, compensation or injunctive relief), whether alleged or claimed by customers, consumers, regulators, shareholders or others, arising out of, based on or related to: (a) cyber security, cyber attacks, data loss or breaches, unauthorized access to information, data, or databases (including but not limited to any personally identifiable information or private health information) and use or disclosure of information contained therein, not preventing or detecting the breach or failing to otherwise disclose or respond to the breach; (b) circumstances forming the basis of any violation of any law, permit, license, registration or other authorization required under applicable law governing data security, data protection, network security, information systems, privacy or any cyber environment (including, users, networks, devices, software, processes, information systems, databases, information in storage or transit, applications, services, and systems that can be connected directly or indirectly to networks); (c) failure to implement a reporting system or control, or failure to monitor or oversee the operation of such a system; (d) data destruction, extortion, theft, hacking, and denial of service attacks; losses or liabilities to others caused by errors and omissions, failure to safeguard data or defamation; or (e) security-audit, post-incident public relations and investigative expenses, criminal reward funds, data breach/privacy crisis management (including, management of an incident, investigation, remediation, data subject notification, call management, credit checking for data subjects, legal costs, court attendance and regulatory fines), extortion liability (including, losses due to a threat of extortion, professional fees related to dealing with the extortion), or network security liability (including, losses as a result of denial of access, costs related to data on third-parties and costs related to the theft of data on third- party systems).

 

	 	
    The Limit Amount for all Indemnifiable
    Persons during each relevant period referred to in Section 1.2 of the Indemnification Agreement for all events described in this
    Exhibit A (in Sections 1-22 (inclusive) above), shall be the greater of:

     

    (a)       twenty-five
    percent (25%) of the Company’s total shareholders’ equity according to the Company’s most recent financial statements
    as of the time of the actual payment of indemnification;

     

    (b)       US$350
    million;

     

    (c)       ten
    percent (10%) of the Company Total Market Cap (which shall mean the average closing price of the Company’s ordinary shares over
    the 30 trading days prior to the actual payment of indemnification multiplied by the total number of issued and outstanding shares of
    the Company as of the date of actual payment); and

     

    (d)       in
connection with or arising out of a public offering of the Company’s securities, the aggregate amount of proceeds from the sale
by the Company and/or any shareholder of Company’s securities in such offering.

 

		*	Any reference in this Exhibit A to the Company shall include the Company and any entity in which the Indemnitee serves in a Corporate
Capacity.

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