Document:

Exhibit 10.10

 

 

 

Nuvo
Group Ltd.

Company
No. 513849000

2015
Share Incentive Plan

 

 

 

Unless
otherwise defined, terms used herein shall have the meaning ascribed to them in Section 2 hereof.

 

		1.	PURPOSE;
                                         TYPES OF AWARDS; CONSTRUCTION.

 

1.1.
Purpose. The purpose of this 2015 Share Incentive Plan (as amended, this “Plan”) is to afford an incentive
to Service Providers of Nuvo Group Ltd., an Israeli company (together with any successor corporation thereto, the “Company”),
or any Affiliate of the Company, which now exists or hereafter is organized or acquired by the Company or its Affiliates, to continue
as Service Providers, to increase their efforts on behalf of the Company or its Affiliates and to promote the success of the Company’s
business, by providing such Service Providers with opportunities to acquire a proprietary interest in the Company by the issuance
of Shares or restricted Shares (“Restricted Shares”) of the Company, and by the grant of options to purchase
Shares (“Options”), Restricted Share Units (“RSUs”) and other Share-based Awards pursuant
to Sections 11 through 13 of this Plan.

 

1.2.
Types of Awards. This Plan is intended to enable the Company to issue Awards under various tax regimes, including:

 

(i)
pursuant and subject to the provisions of Section 102 of the Ordinance (or the corresponding provision of any subsequently enacted
statute, as amended from time to time), and all regulations and interpretations adopted by any competent authority, including
the Israel Tax Authority (the “ITA”), including the Income Tax Rules (Tax Benefits in Stock Issuance to Employees)
5763-2003 or such other rules so adopted from time to time (the “Rules”) (such Awards that are intended to
be (as set forth in the Award Agreement) and which qualify as such under Section 102 of the Ordinance and the Rules, “102
Awards”);

 

(ii)
pursuant to Section 3(9) of the Ordinance or the corresponding provision of any subsequently enacted statute, as amended from
time to time (such Awards, “3(9) Awards”);

 

(iii)
Incentive Stock Options within the meaning of Section 422 of the Code, or the corresponding provision of any subsequently enacted
United States federal tax statute, as amended from time to time, to be granted to Employees who are deemed to be residents of
the United States, for purposes of taxation, or are otherwise subject to U.S. Federal income tax (such Awards that are intended
to be (as set forth in the Award Agreement) and which qualify as an incentive stock option within the meaning of Section 422(b)
of the Code, “Incentive Stock Options”); and

 

(iv)
Options not intended to be (as set forth in the Award Agreement) or which do not qualify as an Incentive Stock Option to be granted
to Service Providers who are deemed to be residents of the United States for purposes of taxation, or are otherwise subject to
U.S. Federal income tax (“Nonqualified Stock Options”).

 

     

     

    

 

In
addition to the issuance of Awards under the relevant tax regimes in the United States of America and the State of Israel,
and without derogating from the generality of Section 25, this Plan contemplates issuances to Grantees in other jurisdictions
or under other tax regimes with respect to which the Committee is empowered, but is not required, to make the requisite
adjustments in this Plan and set forth the relevant conditions in an appendix to this Plan or in the Company’s
agreement with the Grantee in order to comply with the requirements of such other tax regimes.

 

1.3.
Company Status. This Plan contemplates the issuance of Awards by the Company, both as a private and public company.

 

1.4.
Construction. To the extent any provision herein conflicts with the conditions of any relevant tax law, rule or regulation
which are relied upon for tax relief in respect of a particular Award to a Grantee, the Committee is empowered, but is not required,
hereunder to determine that the provisions of such law, rule or regulation shall prevail over those of this Plan and to interpret
and enforce such prevailing provisions.

 

		2.	DEFINITIONS.

 

2.1. Terms
Generally. Except when otherwise indicated by the context, (i) the singular shall include the plural and the plural shall
include the singular; (ii) any pronoun shall include the corresponding masculine, feminine and neuter forms; (iii) any
definition of or reference to any agreement, instrument or other document herein shall be construed as referring to such
agreement, instrument or other document as from time to time amended, restated, supplemented or otherwise modified (subject
to any restrictions on such amendments, restatements, supplements or modifications set forth therein or herein), (iv)
references to any law, constitution, statute, treaty, regulation, rule or ordinance, including any section or other part
thereof shall refer to it as amended from time to time and shall include any successor thereof, (v) reference to a
“company” or “entity” shall include a, partnership, corporation, limited liability company,
association, trust, unincorporated organization, or a government or agency or political subdivision thereof, and reference to
a “person” shall mean any of the foregoing or an individual, (vi) the words “herein”,
“hereof” and “hereunder”, and words of similar import, shall be construed to refer to this Plan in
its entirety, and not to any particular provision hereof, (vii) all references herein to Sections shall be construed to refer
to Sections to this Plan; (viii) the words “include”, “includes” and “including” shall be
deemed to be followed by the phrase “without limitation”; and (ix) use of the term “or” is
not intended to be exclusive.

 

2.2.
Defined Terms. The following terms shall have the meanings ascribed to them in this Section 2:

 

2.3.
“Affiliate” shall mean, (i) with respect to any person, any other person that, directly or indirectly through
one or more intermediaries, controls, is controlled by, or is under common control with, such person (with the term “control”
or “controlled by” within the meaning of Rule 405 of Regulation C under the Securities Act), including, without limitation,
any Parent or Subsidiary, or (ii) for the purpose of 102 Awards, “Affiliate” shall only mean an “employing
company” within the meaning and subject to the conditions of Section 102(a) of the Ordinance.

 

2.4.
“Applicable Law” shall mean any applicable law, rule, regulation, statute, pronouncement, policy,
interpretation, judgment, order or decree of any federal, provincial, state or local governmental, regulatory or adjudicative
authority or agency, of any jurisdiction, and the rules and regulations of any stock exchange, over-the-counter market or
trading system on which the Company’s shares are then traded or listed.

 

2.5.
“Award” shall mean any Option, Shares, Restricted Share, RSUs or any other Share- based award granted under
this Plan.

 

 2.6. “Board” shall mean the Board of Directors of the Company.

 

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2.7.
“Code” shall mean the United States Internal Revenue Code of 1986, and any applicable regulations promulgated
thereunder, all as amended.

 

2.8.
“Committee” shall mean a committee established or appointed by the Board to administer this Plan, subject to
Section 3.1.

 

2.9.
“Companies Law” shall mean the Israel Companies Law, 5759-1999, and the regulations promulgated thereunder,
all as amended from time to time.

 

2.10.
“Controlling Shareholder” shall have the meaning set forth in Section 32(9) of the Ordinance.

 

2.11.
“Disability” shall mean (i) the inability of a Grantee to engage in any substantial gainful activity or to
perform the major duties of the Grantee’s position with the Company or its Affiliates by reason of any medically determinable
physical or mental impairment which has lasted or can be expected to last for a continuous period of not less than 12 months (or
such other period as determined by the Committee), as determined by a qualified doctor acceptable to the Company, (ii) if applicable,
a “permanent and total disability” as defined in Section 22(e)(3) of the Code or Section 409A(a)(2)(c)(i) of the Code,
as amended from time to time, or (iii) as defined in a policy of the Company that the Committee deems applicable to this Plan,
or that makes reference to this Plan, for purposes of this definition. Notwithstanding the foregoing, for Awards that are subject
to Section 409A of the Code, Disability shall mean that a Participant is disabled under Section 409A(a)(2)(C)(i) or (ii) of the
Code.

 

2.12.
“Employee” shall mean any person treated as an employee (including an officer or a director who is also treated
as an employee) in the records of the Company or any of its Affiliates (and in the case of 102 Awards, subject to Section 9.3
or in the case of Incentive Stock Options, who is an employee for purposes of Section 422 of the Code); provided, however, that
neither service as a director nor payment of a director’s fee shall be sufficient to constitute employment for purposes
of this Plan. The Company shall determine in good faith and in the exercise of its discretion whether an individual has become
or has ceased to be an Employee and the effective date of such individual’s employment or termination of employment, as
the case may be. For purposes of a person’s rights, if any, under this Plan as of the time of the Company’s determination,
all such determinations by the Company shall be final, binding and conclusive, notwithstanding that the Company or any court of
law or governmental agency subsequently makes a contrary determination.

 

2.13.
“employment”, “employed” and words of similar import shall be deemed to refer to the employment
of Employees or to the services of any other Service Provider, as the case may be.

 

2.14.
“exercise” “exercised” and words of similar import, when referring to an Award that does
not require exercise or that is settled upon vesting (such as may be the case with RSUs or Restricted Shares, if so determined
in their terms), shall be deemed to refer to the vesting of such an Award (regardless of whether or not the wording included reference
to vesting of such an Awards explicitly).

 

2.15.
“Exercise Period” shall mean the period, commencing on the date of grant of an Award, during which an Award
shall be exercisable, subject to any vesting provisions thereof (including any acceleration thereof, if any) and subject to the
termination provisions hereof.

 

2.16.
“Exercise Price” shall mean the exercise price for each Share covered by an Option or the purchase price for
each Share covered by any other Award.

 

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2.17.
“Fair Market Value” shall mean, as of any date, the value of a Share or other securities, property or
rights as determined by the Board, in its discretion, subject to the following: (i) if, on such date, the Shares are listed
on any securities exchange, the average closing sales price per Share on which the Shares are principally traded over the
thirty (30) day calendar period preceding the subject date (utilizing all trading days during such 30 calendar day period),
as reported in The Wall Street Journal or such other source as the Company deems reliable; (ii) if, on such date, the Shares
are then quoted in an over-the-counter market, the average of the closing bid and asked prices for the Shares in that market
during the thirty (30) day calendar period preceding the subject date (utilizing all trading days during such 30 calendar day
period), as reported in The Wall Street Journal or such other source as the Company deems reliable; or (iii) if, on such
date, the Shares are not then listed on a securities exchange or quoted in an over-the-counter market, or in case of any
other securities, property or rights, such value as the Committee, in its sole discretion, shall determine, with
full authority to determine the method for making such determination and which determination shall be conclusive and binding
on all parties, and shall be made after such consultations with outside legal, accounting and other experts as the Committee
may deem advisable; provided, however, that, if applicable, the Fair Market Value of the Shares shall be determined in a
manner that is intended to satisfy the applicable requirements of and subject to Section 409A of the Code, and with respect
to Incentive Stock Options, in a manner that is intended to satisfy the applicable requirements of and subject to Section 422
of the Code, subject to Section 422(c)(7) of the Code. The Committee shall maintain a written record of its method
of determining such value. If the Shares are listed or quoted on more than one established stock exchange or
over-the-counter market, the Committee shall determine the principal such exchange or market and utilize the price of the
Shares on that exchange or market (determined as per the method described in clauses (i) or (ii) above, as applicable) for
the purpose of determining Fair Market Value.

 

 2.18. “Grantee” shall mean a person who has been granted an Award(s) under this Plan.

 

2.19.
“Ordinance” shall mean the Israeli Income Tax Ordinance (New Version) 1961, and the regulations and rules (including
the Rules) promulgated thereunder, all as amended from time to time.

 

2.20.
“Parent” shall mean any company (other than the Company), which now exists or is hereafter organized, (i) in
an unbroken chain of companies ending with the Company if, at the time of granting an Award, each of the companies (other than
the Company) owns stock possessing fifty percent (50%) or more of the total combined voting power of all classes of stock in one
of the other companies in such chain, or (ii) if applicable and for purposes of Incentive Stock Options, that is a “parent
corporation” of the Company, as defined in Section 424(e) of the Code.

 

2.21.
“Retirement” shall mean a Grantee’s retirement pursuant to Applicable Law or in accordance with the terms
of any tax-qualified retirement plan maintained by the Company or any of its Affiliates in which the Grantee participates or is
subject to.

 

2.22.
“Securities Act” shall mean the U.S. Securities Act of 1933, and the rules and regulations promulgated thereunder,
all as amended from time to time.

 

2.23.
“Service Provider” shall mean an Employee, director, officer, consultant, advisor and any other person or entity
who provides services to the Company or any Parent, Subsidiary or Affiliate thereof. Service Providers shall include prospective
Service Providers to whom Awards are granted in connection with written offers of an employment or other service relationship
with the Company or any Parent, Subsidiary or any Affiliates thereof, provided however that such employment or service shall have
actually commenced.

 

2.24.
“Shares” shall mean Ordinary Shares, par value NIS 0.01 of the Company (as adjusted for stock split, reverse
stock split, bonus shares, combination or other recapitalization events), or shares of such other class of shares of the Company
as shall be designated by the Board in respect of the relevant Award(s). “Shares” include any securities or property
issued or distributed with respect thereto.

 

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2.25.
 “Subsidiary” shall mean any company (other than the Company), which now exists or is
hereafter organized or acquired by the Company, (i) in an unbroken chain of companies beginning with the Company if, at the
time of granting an Award, each of the companies other than the last company in the unbroken chain owns stock possessing
fifty percent (50%) or more of the total combined voting power of all classes of stock in one of the other companies in such
chain, or (ii) if applicable and for purposes of Incentive Stock Options, that is a “subsidiary corporation” of
the Company, as defined in Section 424(f) of the Code.

 

2.26.
“Ten Percent Shareholder” shall mean a Grantee who, at the time an Award is granted to the Grantee, owns shares
possessing more than ten percent (10%) of the total combined voting power of all classes of shares of the Company or any Parent
or Subsidiary, within the meaning of Section 422(b)(6) of the Code.

 

2.27.
“Trustee” shall mean the trustee appointed by the Committee to hold the Awards (and, in relation with 102 Awards,
approved by the ITA), if so appointed.

 

2.28.
Other Defined Terms. The following terms shall have the meanings ascribed to them in the Sections set forth below:

 

	Term	Section
	102 Awards	1.2(i)
	102 Capital Gains
    Track Awards	9.1
	102 Non-Trustee
    Awards	9.2
	102 Ordinary Income
    Track Awards	9.1
	102 Trustee Awards	9.1
	3(9) Awards	1.2(ii)
	Award Agreement	6
	Cause	6.6.4.4
	Company	1.1
	Effective Date	24.1
	Election	9.2
	Eligible 102 Grantees	9.3.1
	Incentive Stock
    Options	1.2(iii)
	ITA	1.1(i)
	Market Stand-Off	17.1
	Market Stand-Off
    Period	17.1
	Merger/Sale	14.2
	Nonqualified Stock
    Options	1.2(iv)
	Plan	1.1
	Recapitalization	14.1
	Required Holding
    Period	9.5
	Restricted Period	11.2
	Restricted Share
    Agreement	11
	Restricted Share
    Unit Agreement	12
	Restricted Shares	1.1
	RSUs	1.1
	Rules	1.1(i)
	Securities	17.1
	Successor Corporation	14.2.1
	Withholding Obligations	18.5

 

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		3.	ADMINISTRATION.

 

3.1.
To the extent permitted under Applicable Law, the Articles of Association and any other governing document of the Company, this
Plan shall be administered by the Committee. In the event that the Board does not appoint or establish a committee to administer
this Plan, this Plan shall be administered by the Board and accordingly, any and all references herein to the Committee shall
be construed as references to the Board. In the event that an action necessary for the administration of this Plan is required
under Applicable Law to be taken by the Board without the right of delegation, or if such action or power was explicitly reserved
by the Board in appointing, establishing and empowering the Committee, then such action shall be so taken by the Board. In any
such event, all references herein to the Committee shall be construed as references to the Board. Even if such a Committee was
appointed or established, the Board may take any actions that are stated to be vested in the Committee, and shall not be restricted
or limited from exercising all rights, powers and authorities under this Plan or Applicable Law.

 

3.2.
The Board shall appoint the members of the Committee, may from time to time remove members from, or add members to, the Committee,
and shall fill vacancies in the Committee, however caused, provided that the composition of the Committee shall at all times be
in compliance with any mandatory requirements of Applicable Law, the Articles of Association and any other governing document
of the Company. The Committee may select one of its members as its Chairman and shall hold its meetings at such times and places
as it shall determine. The Committee may appoint a Secretary, who shall keep records of its meetings, and shall make such rules
and regulations for the conduct of its business as it shall deem advisable and subject to mandatory requirements of Applicable
Law.

 

3.3.
Subject to the terms and conditions of this Plan, any mandatory provisions of Applicable Law and any provisions of any Company
policy required under mandatory provisions of Applicable Law, and in addition to the Committee’s powers contained elsewhere
in this Plan, the Committee shall have full authority, in its discretion, from time to time and at any time, to determine any
of the following, or to recommend to the Board any of the following if it is not authorized to take such action according to Applicable
Law:

 

 (i) eligible Grantees,

 

(ii)
grants of Awards and setting the terms and provisions of Award Agreements (which need not be identical) and any other
agreements or instruments under which Awards are made, including, but not limited to, the number of Shares underlying each
Award and the class of Shares underlying each Award (if more than one class was designated by the Board),

 

 (iii) the time or times at which Awards shall be granted,

 

(iv)
the terms, conditions and restrictions applicable to each Award (which need not be identical) and any Shares acquired
upon the exercise or (if applicable) vesting thereof, including, without limitation, (1) designating Awards under Section
1.2; (2) the vesting schedule, the acceleration thereof and terms and conditions upon which Awards may be exercised or become
vested, (3) the Exercise Price, (4) the method of payment for Shares purchased upon the exercise or (if applicable) vesting
of the Awards, (5) the method for satisfaction of any tax withholding obligation arising in connection with the Awards or
such Shares, including by the withholding or delivery of Shares, (6) the time of the expiration of the Awards, (7) the effect
of the Grantee’s termination of employment with the Company or any of its Affiliates, and (8) all other terms,
conditions and restrictions applicable to the Award or the Shares not inconsistent with the terms of this Plan,

 

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(v)
to accelerate, continue, extend or defer the exercisability of any Award or the vesting thereof, including with respect to
the period following a Grantee’s termination of employment or other service,

 

(vi)
the interpretation of this Plan and any Award Agreement and the meaning, interpretation and applicability of terms referred
to in Applicable Laws,

 

(vii)
policies, guidelines, rules and regulations relating to and for carrying out this Plan, and any amendment, supplement or
rescission thereof, as it may deem appropriate,

 

(viii)
to adopt supplements to, or alternative versions of, this Plan, including, without limitation, as it deems necessary or desirable
to comply with the laws of, or to accommodate the tax regime or custom of, foreign jurisdictions whose citizens or residents may
be granted Awards,

 

 (ix) the Fair Market Value of the Shares or other property,

 

(x)
the tax track (capital gains, ordinary income track or any other track available under the Section 102 of the Ordinance) for
the purpose of 102 Awards,

 

(xi)
the authorization and approval of conversion, substitution, cancellation or suspension under and in accordance with this
Plan of any or all Awards or Shares,

 

(xii)
the amendment, modification, waiver or supplement of the terms of each outstanding Award (with the consent of the applicable
Grantee, if such amendments refers to the increase of the Exercise Price of Awards or reduction of the number of Shared
underlying an Award (but, in each case, other than as a result of an adjustment or exercise of rights in accordance with
Section 14)) unless otherwise provided under the terms of this Plan,

 

(xiii)
without limiting the generality of the foregoing, and subject to the provisions of Applicable Law, to grant to a Grantee, who
is the holder of an outstanding Award, in exchange for the cancellation of such Award, a new Award having an Exercise Price lower
than that provided in the Award so canceled and containing such other terms and conditions as the Committee may prescribe in accordance
with the provisions of this Plan or to set a new Exercise Price for the same Award lower than that previously provided in the
Award,

 

(xiv)
to correct any defect, supply any omission or reconcile any inconsistency in this Plan or any Award Agreement and all other determinations
and take such other actions with respect to this Plan or any Award as it may deem advisable to the extent not inconsistent with
the provisions of this Plan or Applicable Law, and

 

(xv)
any other matter which is necessary or desirable for, or incidental to, the administration of this Plan and any Award thereunder.

 

3.4.
The authority granted hereunder includes the authority to modify Awards to eligible individuals who are foreign nationals or are
individuals who are employed outside Israel to recognize differences in local law, tax policy or custom, in order to effectuate
the purposes of this Plan but without amending this Plan.

 

3.5.
The Board and the Committee shall be free at all times to make such determinations and take such actions as they deem fit. The
Board and the Committee need not take the same action or determination with respect to all Awards, with respect to certain types
of Awards, with respect to all Service Providers or any certain type of Service Providers and actions and determinations may differ
as among the Grantees, and as between the Grantees and any other holders of securities of the Company.

 

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3.6.
All decisions, determinations, and interpretations of the Committee, the Board and the Company under this Plan shall be final
and binding on all Grantees (whether before or after the issuance of Shares pursuant to Awards), unless otherwise determined by
the Committee, the Board or the Company, respectively. The Committee shall have the authority (but not the obligation) to determine
the interpretation and applicability of Applicable Laws to any Grantee or any Awards. No member of the Committee or the Board
shall be liable to any Grantee for any action taken or determination made in good faith with respect to this Plan or any Award
granted hereunder.

 

3.7.
Any officer or authorized signatory of the Company shall have the authority to act on behalf of the Company with respect to any
matter, right, obligation, determination or election which is the responsibility of or which is allocated to the Company herein,
provided such person has apparent authority with respect to such matter, right, obligation, determination or election. Such person
or authorized signatory shall not be liable to any Grantee for any action taken or determination made in good faith with respect
to this Plan or any Award granted hereunder.

 

		4.	ELIGIBILITY.

 

Awards
may be granted to Service Providers of the Company or any Affiliate thereof, taking into account, at the Committee’s discretion
and without an obligation to do so, the qualification under each tax regime pursuant to which such Awards are granted, subject
to the limitation on the granting of Incentive Stock Options set forth in Section 8.1. A person who has been granted an Award
hereunder may be granted additional Awards, if the Committee shall so determine, subject to the limitations herein. However, eligibility
in accordance with this Section 4 shall not entitle any person to be granted an Award, or, having been granted an Award, to be
granted an additional Award.

 

Awards
may differ in number of Shares covered thereby, the terms and conditions applying to them or on the Grantees or in any other respect
(including, that there should not be any expectation (and it is hereby disclaimed) that a certain treatment, interpretation or
position granted to one shall be applied to the other, regardless of whether or not the facts or circumstances are the same or
similar).

 

		5.	SHARES.

 

5.1.
The maximum aggregate number of Shares that may be issued pursuant to Awards under this Plan (the “Pool”) shall
initially be 700,000 (seven hundred thousand) authorized but unissued Shares (except and as adjusted pursuant to Section 14.1
of this Plan), or such other number as the Board may determine from time to time (without the need to amend the Plan in case of
such determination). However, except as adjusted pursuant to Section 14.1, in no event shall more than such number of Shares included
in the Pool, as adjusted in accordance with Section 5.2, be available for issuance pursuant to the exercise of Incentive Stock
Options.

 

5.2.
Any Shares (a) underlying an Award granted hereunder or an award granted prior to this Amendment that has expired, or was
cancelled, terminated, forfeited or, repurchased or settled in cash in lieu of issuance of Shares, for any reason, without
having been exercised; (b) if permitted by the Company, tendered to pay the Exercise Price of an Award, or withholding tax
obligations with respect to an Award or the exercise price or other purchase price of any option or other award prior to
adoption of this Amendment; or (c) if permitted by the Company, subject to an Award or any award granted prior to adoption of
this Amendment that are not delivered to a Grantee because such Shares are withheld to pay the Exercise Price of such Award,
or withholding tax obligations with respect to such Award; shall automatically, and without any further action on the part of
the Company or any Grantee, again be available for grant of Awards and Shares issued upon exercise of (if applicable) vesting
thereof for the purposes of this Plan (unless this Plan shall have been terminated) or unless the Board determines otherwise.
Such Shares may, in whole or in part, be authorized but unissued Shares, treasury shares (dormant shares) or Shares otherwise
that shall have been or may be repurchased by the Company (to the extent permitted pursuant to the Companies Law).

 

5.3.
Any Shares under the Pool that are not subject to outstanding or exercised Awards at the termination of this Plan shall cease
to be reserved for the purpose of this Plan.

 

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		6.	TERMS
                                         AND CONDITIONS OF AWARDS.

 

Each
Award granted pursuant to this Plan shall be evidenced by a written or electronic agreement between the Company and the Grantee
or a written or electronic notice delivered by the Company (the “Award Agreement”), in substantially such form
or forms and containing such terms and conditions, as the Committee shall from time to time approve. The Award Agreement shall
comply with and be subject to the following general terms and conditions and the provisions of this Plan (except for any provisions
applying to Awards under different tax regimes), unless otherwise specifically provided in such Award Agreement, or the terms
referred to in other Sections of this Plan applying to Awards under such applicable tax regimes, or terms prescribed by Applicable
Law. Award Agreements need not be in the same form and may differ in the terms and conditions included therein.

 

6.1.
Number of Shares. Each Award Agreement shall state the number of Shares covered by the Award.

 

6.2.
Type of Award. Each Award Agreement may state the type of Award granted thereunder, provided that the tax treatment of
any Award, whether or not stated in the Award Agreement, shall be as determined in accordance with Applicable Laws.

 

6.3.
Exercise Price. Each Award Agreement shall state the Exercise Price, if applicable. Unless otherwise set forth in this
Plan, an Exercise Price of an Award of less than the par value of the Shares shall comply with Section 304 of the Companies Law,
1999, as amended. Subject to Sections 3 7.2 and 8.2 and to the foregoing, the Committee may reduce the Exercise Price of any outstanding
Award, on terms and subject to such conditions as it deems advisable. The Exercise Price shall also be subject to adjustment as
provided in Section 14 hereof. The Exercise Price of any outstanding Award granted to a Grantee who is subject to U.S. federal
income tax shall be determined in accordance with Section 409A of the Code.

 

6.4. Manner
of Exercise. An Award may be exercised, as to any or all Shares as to which the Award has become exercisable, by written
notice delivered in person or by mail (or such other methods of delivery prescribed by the Company) to the Chief
Executive Officer of the Company or to such other person as determined by the Committee, or in any other manner as the
Committee shall prescribe from time to time, specifying the number of Shares with respect to which the Award is being
exercised (which may be equal to or lower than the aggregate number of Shares that have become exercisable at such time,
subject to the last sentence of this Section), accompanied by payment of the aggregate Exercise Price for such Shares in the
manner specified in the following sentence. The Exercise Price shall be paid in full with respect to each Share, at the time
of exercise, either in (i) cash, (ii) if the Company’s shares are listed for trading on any securities exchange or
over-the-counter market, and if the Committee so determines, all or part of the Exercise Price and any withholding taxes may
be paid by the delivery (on a form prescribed by the Company) of an irrevocable direction to a securities broker approved by
the Company to sell Shares and to deliver all or part of the sales proceeds to the Company or the Trustee, (iii) if the
Company’s shares are listed for trading on any securities exchange or over-the-counter market, and if the Committee so
determines, all or part of the Exercise Price and any withholding taxes may be paid by the delivery (on a form prescribed by
the Company) of an irrevocable direction to pledge Shares to a securities broker or lender approved by the Company, as
security for a loan, and to deliver all or part of the loan proceeds to the Company or the Trustee, or (iv) in such other
manner as the Committee shall determine, which may include procedures for cashless exercise (as set forth in Section 6.4A
below). For as long as the Company’s shares are not listed for trading on any securities exchange or
over-the-counter market and unless the Committee determines otherwise, a Grantee may not exercise Awards unless the aggregate
Exercise Price thereof is equal to or in excess of the lower of: (a) the aggregate Exercise Price for all Shares as to which
the Award has become exercisable at such time; or (b) US$2,000.

 

    - 9 -

     

    

 

6.4A. Subject
to the approval of the Committee, Options may be exercised using a cashless exercise mechanism and the number of the Shares to
be issued by the Company shall be calculated pursuant to the following formula (the “Cashless Exercise Mechanism”):

 

X
= Y * (A - B)/A

 

Where:

 

X
= the number of Shares to be issued to the Grantee.

 

Y
= the number of Shares, as adjusted to the date of such calculation, underlying the number of Options being exercised.

 

A=
the Fair Market Value of one Share at the exercise date.

 

B = the exercise price of each Option.

 

Upon
completion of the calculation, if X is a negative number, then X shall be deemed to be 0 (zero).

 

 6.5. Term and Vesting of Awards.

 

6.5.1.
Each Award Agreement shall provide the vesting schedule for the Award as determined by the Committee. The Committee shall have
the authority to determine the vesting schedule and accelerate the vesting of any outstanding Award at such time and under such
circumstances as it, in its sole discretion, deems appropriate. Unless otherwise resolved by the Committee and stated in the Award
Agreement, and subject to Sections 6.6 and 6.7 hereof, Awards shall vest and become exercisable under the following schedule:
twenty-five percent (25%) of the Shares covered by the Award, on the first anniversary of the vesting commencement date determine
by the Committee (and in the absence of such determination, of date on which such Award was granted), and six and one-quarter
percent (6.25%) of the Shares covered by the Award at the end of each subsequent three-month period thereafter over the course
of the following three (3) years; provided that the Grantee remains continuously as a Service Provider of the Company or its Affiliates
throughout such vesting dates.

 

6.5.2.
The Award Agreement may contain performance goals and measurements (which, in case of 102 Awards, shall, if then required, be
subject to obtaining a specific tax ruling or determination from the ITA), and the provisions with respect to any Award need not
be the same as the provisions with respect to any other Award. Such performance goals may include, but are not limited to, sales,
earnings before interest and taxes, return on investment, earnings per share, any combination of the foregoing or rate of growth
of any of the foregoing, as determined by the Committee. The Committee may adjust performance goals pursuant to Awards previously
granted to take into account changes in law and accounting and tax rules and to make such adjustments as the Committee deems necessary
or appropriate to reflect the inclusion or the exclusion of the impact of extraordinary or unusual items, events or circumstances.

 

    - 10 -

     

    

 

6.5.3.
The Exercise Period of an Award will be ten (10) years from the date of grant of the Award, unless otherwise determined by
the Committee and stated in the Award Agreement, but subject to the vesting provisions described above and the early
termination provisions set forth in Sections 6.6 and 6.7 hereof. At the expiration of the Exercise Period, any Award, or any
part thereof, that has not been exercised within the term of the Award and the Shares covered thereby not paid for in
accordance with this Plan and the Award Agreement shall terminate and become null and void, and all interests and rights of
the Grantee in and to the same shall expire.

 

6.6. Termination.

 

6.6.1.
Unless otherwise determined by the Committee, and subject to Section 6.7 hereof, an Award may not be exercised unless the Grantee
is then a Service Provider of the Company or an Affiliate thereof or, in the case of an Incentive Stock Option, a company or a
parent or subsidiary company of such company issuing or assuming the Option in a transaction to which Section 424(a) of the Code
applies, and unless the Grantee has remained continuously so employed since the date of grant of the Award and throughout the
vesting dates.

 

6.6.2.
In the event that the employment or service of a Grantee shall terminate (other than by reason of death, Disability or
Retirement), all Awards of such Grantee that are unvested at the time of such termination shall terminate on the date of such
termination, and all Awards of such Grantee that are vested and exercisable at the time of such termination may be exercised
within up to three (3) months after the date of such termination (or such different period as the Committee shall prescribe),
but in any event no later than the date of expiration of the Award’s term as set forth in the Award Agreement or
pursuant to this Plan; provided, however, that if the Company (or the Subsidiary or Affiliate, when applicable) shall
terminate the Grantee’s employment or service for Cause (as defined below) or if at any time during the Exercise Period
(whether prior to and after termination of employment or service, and whether or not the Grantee’s employment or
service is terminated by either party as a result thereof), facts or circumstances arise or are discovered with respect to
the Grantee that would have constituted Cause, all Awards theretofore granted to such Grantee (whether vested or not) shall,
to the extent not theretofore exercised, terminate on the date of such termination (or on such subsequent date on which such
facts or circumstances arise or are discovered, as the case may be) unless otherwise determined by the Committee; and any
Shares issued upon exercise or (if applicable) vesting of Awards (including other Shares or securities issued or distributed
with respect thereto), whether held by the Grantee or by the Trustee for the Grantee’s benefit, shall be deemed to be
irrevocably offered for sale to the Company, any of its Affiliates or any person designated by the Company to purchase, at
the Company’s election and subject to Applicable Law, either for no consideration, for the par value of such Shares or
against payment of the Exercise Price previously received by the Company for such Shares upon their issuance, as the
Committee deems fit, upon written notice to the Grantee at any time after the Grantee’s termination of employment or
service. Such Shares or other securities shall be sold and transferred within 30 days from the date of the
Company’s notice of its election to exercise its right. If the Grantee fails to transfer such Shares or other
securities to the Company, the Company, at the decision of the Committee, shall be entitled to forfeit or repurchase such
Shares and to authorize any person to execute on behalf of the Grantee any document necessary to effect such transfer,
whether or not the share certificates are surrendered. The Company shall have the right and authority to affect the above
either by: (i) repurchasing all of such Shares or other securities held by the Grantee or by the Trustee for the benefit of
the Grantee, or designate any other person who shall have the right and authority to purchase all of Such Shares or other
securities, for the Exercise Price paid for such Shares, the par value of such Shares or for no payment or consideration
whatsoever, as the Committee deems fit; (ii) forfeiting all such Shares or other securities; (iii) redeeming all such Shares
or other securities, for the Exercise Price paid for such Shares, the par value of such Shares or for no payment or
consideration whatsoever, as the Committee deems fit; (iv) taking action in order to have such Shares or other securities
converted into deferred shares entitling their holder only to their par value upon liquidation of the Company; or (v) taking
any other action which may be required in order to achieve similar results; all as shall be determined by the Committee, at
its sole and absolute discretion, and the Grantee is deemed to irrevocably empower the Company or any person which may be
designated by it to take any action by, in the name of or on behalf of the Grantee to comply with and give effect to such
actions (including, voting such shares, filling in, signing and delivering share transfer deeds, etc.).

 

    - 11 -

     

    

 

6.6.3.
Notwithstanding anything to the contrary, the Committee, in its absolute discretion, may, on such terms and conditions as it
may determine appropriate, extend the periods for which Awards held by any Grantee may continue to vest and be exercisable;
it being clarified that such Awards may lose their entitlement to certain tax benefits under Applicable Law as a result of
the modification of such Awards and/or in the event that the Award is exercised beyond the later of: (i) three (3) months
after the date of termination of the employment or service relationship; or (ii) the applicable period under Section 6.7
below with respect to a termination of the employment or service relationship because of the death, Disability or Retirement
of Grantee.

 

 6.6.4. For purposes of this Plan:

 

6.6.4.1.
a termination of employment or service of a Grantee shall not be deemed to occur (except to the extent required by the Code with
respect to the Incentive Stock Option status of an Option) in case of (i) a transition or transfer of a Grantee among the Company
and its Affiliates, (ii) a change in the capacity in which the Grantee is employed or renders service to the Company or any of
its Affiliates or a change in the identity of the employing or engagement entity among the Company and its Affiliates, provided,
in case of (i) and (ii) above, that the Grantee has remained continuously employed by and/or in the service of the Company and
its Affiliates since the date of grant of the Award and throughout the vesting period; or (iii) if the Grantee takes any unpaid
leave as set forth in Section 6.8(i) below.

 

6.6.4.2.
An entity or an Affiliate thereof assuming an Award or issuing in substitution thereof in a transaction to which Section 424(a)
of the Code applies or in a Merger/Sale in accordance with Section 14 shall be deemed as an Affiliate of the Company for purposes
of this Section 6.6, unless the Committee determines otherwise.

 

6.6.4.3.
In the case of a Grantee whose principal employer or service recipient is a Subsidiary or Affiliate, the Grantee’s employment
shall also be deemed terminated for purposes of this Section 6.6 as of the date on which such principal employer or service recipient
ceases to be a Subsidiary or Affiliate.

 

6.6.4.4. The term “Cause” shall mean (irrespective of, and in addition to, any definition included in any
other agreement or instrument applicable to the Grantee, and unless otherwise determined by the Committee) any of the
following: (i) any theft, fraud, embezzlement, dishonesty, willful misconduct, breach of fiduciary duty for personal profit,
falsification of any documents or records of the Company or any of its Affiliates, felony or similar act by the Grantee
(whether or not related to the Grantee’s relationship with the Company); (ii) an act of moral turpitude by the Grantee,
or any act that causes significant injury to, or is otherwise adversely affecting, the reputation, business, assets,
operations or business relationship of the Company (or a Subsidiary or Affiliate, when applicable); (iii) any breach by the
Grantee of any material agreement with or of any material duty of the Grantee to the Company or any Subsidiary or Affiliate
thereof (including breach of confidentiality, non-disclosure, non-use non-competition or non-solicitation covenants towards
the Company or any of its Affiliates) or failure to abide by code of conduct or other policies (including, without
limitation, policies relating to confidentiality and reasonable workplace conduct); or (iv) any act which constitutes a
breach of a Grantee’s fiduciary duty towards the Company or an Affiliate or Subsidiary, including disclosure of
confidential or proprietary information thereof or acceptance or solicitation to receive unauthorized or undisclosed
benefits, irrespective of their nature, or funds, or promises to receive either, from individuals, consultants or corporate
entities that the Company or a Subsidiary does business with; (v) the Grantee’s unauthorized use,
misappropriation, destruction, or diversion of any tangible or intangible asset or corporate opportunity of the Company or
any of its Affiliates (including, without limitation, the improper use or disclosure of confidential or proprietary
information); or (vi) any circumstances that constitute grounds for termination for cause under the Grantee’s
employment or service agreement with the Company or Affiliate, to the extent applicable. For the avoidance of doubt, the
determination as to whether a termination is for Cause for purposes of this Plan, shall be made in good faith by the
Committee and shall be final and binding on the Grantee.

 

    - 12 -

     

    

 

 6.7. Death, Disability or Retirement of Grantee.

 

6.7.1.
If a Grantee shall die while employed by, or performing service for, the Company or its Affiliates, or within the three (3) month
period (or such longer period of time as determined by the Board, in its discretion) after the date of termination of such Grantee’s
employment or service (or within such different period as the Committee may have provided pursuant to Section 6.6 hereof), or
if the Grantee’s employment or service shall terminate by reason of Disability, all Awards theretofore granted to such Grantee
may (to the extent otherwise vested and exercisable and unless earlier terminated in accordance with their terms) be exercised
by the Grantee or by the Grantee’s estate or by a person who acquired the legal right to exercise such Awards by bequest
or inheritance, or by a person who acquired the legal right to exercise such Awards in accordance with applicable law in the case
of Disability of the Grantee, as the case may be, at any time within one (1) year (or such longer period of time as determined
by the Committee, in its discretion) after the death or Disability of the Grantee (or such different period as the Committee shall
prescribe), but in any event no later than the date of expiration of the Award’s term as set forth in the Award Agreement
or pursuant to this Plan. In the event that an Award granted hereunder shall be exercised as set forth above by any person other
than the Grantee, written notice of such exercise shall be accompanied by a certified copy of letters testamentary or proof satisfactory
to the Committee of the right of such person to exercise such Award.

 

6.7.2.
In the event that the employment or service of a Grantee shall terminate on account of such Grantee’s Retirement, all Awards
of such Grantee that are exercisable at the time of such Retirement may, unless earlier terminated in accordance with their terms,
be exercised at any time within the three (3) month period after the date of such Retirement (or such different period as the
Committee shall prescribe).

 

6.8.
Suspension of Vesting. Unless the Committee provides otherwise, vesting of Awards granted hereunder shall be suspended
during any unpaid leave of absence, other than in the case of any (i) leave of absence which was pre-approved by the Company explicitly
for purposes of continuing the vesting of Awards, or (ii) transfers between locations of the Company or any of its Affiliates,
or between the Company and any of its Affiliates, or any respective successor thereof. For clarity, for purposes of this Plan,
military leave, statutory maternity or paternity leave or sick leave are not deemed unpaid leave of absence, unless otherwise
determined by the Committee.

 

6.9. Securities
Law Restrictions. Except as otherwise provided in the applicable Award Agreement or other agreement between the Service
Provider and the Company, if the exercise of an Award following the termination of the Service Provider’s employment or
service (other than for Cause) would be prohibited at any time solely because the issuance of Shares would violate the
registration requirements under the Securities Act or equivalent requirements under equivalent laws of other applicable
jurisdictions, then the Award shall remain exercisable and terminate on the earlier of (i) the expiration of a period of
three (3) months (or such longer period of time as determined by the Board, in its discretion) after the termination of the
Service Provider’s employment or service during which the exercise of the Award would not be in such violation, or (ii)
the expiration of the term of the Award as set forth in the Award Agreement or pursuant to this Plan. In addition, unless
otherwise provided in a Grantee’s Award Agreement, if the sale of any Shares received upon exercise or (if applicable)
vesting of an Award following the termination of the Grantee’s employment or service (other than for Cause) would
violate the Company’s insider trading policy, then the Award shall terminate on the earlier of (i) the expiration of a
period equal to the applicable post-termination exercise period after the termination of the Grantee’s employment or
service during which the exercise of the Award would not be in violation of the Company’s insider trading policy, or
(ii) the expiration of the term of the Award as set forth in the applicable Award Agreement or pursuant to this
Plan.

 

    - 13 -

     

    

 

6.10.
Voting Proxy. Until immediately after the listing for trading on a stock exchange or market or trading system of the Company’s
(or the Successor Corporation’s) shares, the Shares subject to an Award or to be issued pursuant to an Award or any other
Securities, shall, unless otherwise determined by the Committee, be subject to an irrevocable proxy and power of attorney by the
Grantee or the Trustee (if so requested from the Trustee), as the case may be, to the Company, which shall designate such person
or persons (with a right of substitution) from time to time as determined by the Committee (and in the absence of such determination,
the CEO). The Trustee is deemed to be instructed by the Grantee to sign such proxy, as requested by the Company. The proxy shall
entitle the holder thereof to receive notices, vote and take such other actions in respect of the Shares or other Securities.
Any person holding or exercising such voting proxies shall do so solely in his capacity as the proxy holder and not individually.
All Awards granted hereunder shall be conditioned upon the execution of such irrevocable proxy in substantially the form prescribed
by the Committee from time to time. So long as any such Shares are subject to such irrevocable proxy and power of attorney or
held by a Trustee (and unless a proxy was given by the Trustee as aforesaid), (i) in any shareholders meeting or written consent
in lieu thereof, such Shares shall be voted by the proxy holder (or the Trustee, as applicable), unless directed otherwise by
the Board, in the same proportion as the result of the vote at the shareholders’ meeting (or written consent in lieu thereof)
in respect of which the Shares are being voted (whether an extraordinary or annual meeting, and whether of the share capital as
one class or of any class thereof), and (ii) in any act or consent of shareholders under the Company’s Articles of Association
or otherwise, such Shares shall be cast by the proxy holder (or the Trustee, as applicable), unless directed otherwise by the
Board, in the same proportion as the result of the shareholders’ act or consent. The provisions of this Section shall apply
to the Grantee and to any purchaser, assignee or transferee of any Shares.

 

6.11.
Other Provisions. The Award Agreement evidencing Awards under this Plan shall contain such other terms and conditions not
inconsistent with this Plan as the Committee may determine, at or after the date of grant, including provisions in connection
with the restrictions on transferring the Awards or Shares covered by such Awards, which shall be binding upon the Grantees and
any purchaser, assignee or transferee of any Awards, and other terms and conditions as the Committee shall deem appropriate.

 

		7.	NONQUALIFIED
                                         STOCK OPTIONS.

 

Awards
granted pursuant to this Section 7 are intended to constitute Nonqualified Stock Options and shall be subject to the general terms
and conditions specified in Section 6 hereof and other provisions of this Plan, except for any provisions of this Plan applying
to Awards under different tax laws or regulations. In the event of any inconsistency or contradictions between the provisions
of this Section 7 and the other terms of this Plan, this Section 7 shall prevail. However, if for any reason an Option granted
pursuant to Section 8 (or portion thereof) does not qualify as an Incentive Stock Option, then, to the extent of such non-qualification,
such Option (or portion thereof) shall be regarded as a Nonqualified Stock Option granted under this Plan. In no event will the
Board, the Company or any Parent or Subsidiary or any of their respective employees or directors have any liability to Participant
(or any other person) due to the failure of the Option to qualify for any reason as an Incentive Stock Option.

 

7.1. Certain
Limitations on Eligibility for Nonqualified Stock Options. Nonqualified Stock Options may not be granted to a
Service Provider who is deemed to be a resident of the United States for purposes of taxation or who is otherwise subject to
United States federal income tax unless the Shares underlying such Options constitute “service recipient stock”
under Section 409A of the Code or unless such Options comply with the payment requirements of Section 409A of the
Code.

 

    - 14 -

     

    

 

7.2.
Exercise Price. The Exercise Price of a Nonqualified Stock Option shall not be less than 100% of the Fair Market Value
of a Share on the date of grant of such Option unless the Committee specifically indicates that the Awards will have a lower Exercise
Price and the Award complies with Section 409A of the Code. Notwithstanding the foregoing, a Nonqualified Stock Option may be
granted with an exercise price lower than the minimum exercise price set forth above if such Award is granted pursuant to an assumption
or substitution for another option in a manner qualifying under the provisions of that complies with Section 424(a) of the Code1.409A-1(b)(5)(v)(D)
of the U.S. Treasury Regulations or any successor guidance.

 

		8.	INCENTIVE
                                         STOCK OPTIONS.

 

Awards
granted pursuant to this Section 8 are intended to constitute Incentive Stock Options and shall be granted subject to the following
special terms and conditions, the general terms and conditions specified in Section 6 hereof and other provisions of this Plan,
except for any provisions of this Plan applying to Awards under different tax laws or regulations. In the event of any inconsistency
or contradictions between the provisions of this Section 8 and the other terms of this Plan, this Section 8 shall prevail.

 

8.1.
Eligibility for Incentive Stock Options. Incentive Stock Options may be granted only to Employees of the Company, or to
Employees of a Parent or Subsidiary, determined as of the date of grant of such Options. An Incentive Stock Option granted to
a prospective Employee upon the condition that such person become an Employee shall be deemed granted effective on the date such
person commences employment, with an exercise price determined as of such date in accordance with Section 8.2.

 

8.2.
Exercise Price. The Exercise Price of an Incentive Stock Option shall not be less than one hundred percent (100%) of the
Fair Market Value of the Shares covered by the Awards on the date of grant of such Option or such other price as may be determined
pursuant to the Code.Notwithstanding the foregoing, an Incentive Stock Option may be granted with an exercise price lower
than the minimum exercise price set forth above if such Award is granted pursuant to an assumption or substitution for another
option in a manner that complies with the provisions of Section 424(a) of the Code.

 

8.3.
Date of Grant. Notwithstanding any other provision of this Plan to the contrary, no Incentive Stock Option may be granted
under this Plan after 10 years from the date this Plan is adopted, or the date this Plan is approved by the shareholders, whichever
is earlier.

 

8.4.
Exercise Period. No Incentive Stock Option shall be exercisable after the expiration of ten (10) years after the effective
date of grant of such Award, subject to Section 8.6. No Incentive Stock Option granted to a prospective Employee may become exercisable
prior to the date on which such person commences employment.

 

8.5. $100,000
Per Year Limitation. The aggregate Fair Market Value (determined as of the date the Incentive Stock Option is granted) of
the Shares with respect to which all Incentive Stock Options granted under this Plan and all other “incentive stock
option” plans of the Company, or of any Parent or Subsidiary or Affiliate, become exercisable for the first time
by each Grantee during any calendar year shall not exceed one hundred thousand United States dollars ($100,000) with respect
to such Grantee. To the extent that the aggregate Fair Market Value of Shares with respect to which such Incentive Stock
Options and any other such incentive stock options are exercisable for the first time by any Grantee during any calendar year
exceeds one hundred thousand United States dollars ($100,000), such options shall be treated as Nonqualified Stock Options.
The foregoing shall be applied by taking options into account in the order in which they were granted. If the Code is amended
to provide for a different limitation from that set forth in this Section 8.5, such different limitation shall be deemed
incorporated herein effective as of the date and with respect to such Awards as required or permitted by such amendment to
the Code. If an Option is treated as an Incentive Stock Option in part and as a Nonqualifed Stock Option in part by reason of
the limitation set forth in this Section 8.5, the Grantee may designate which portion of such Option the Grantee is
exercising. In the absence of such designation, the Grantee shall be deemed to have exercised the Incentive Stock Option
portion of the Option first. Separate certificates representing each such portion may be issued upon the exercise of the
Option.

 

    - 15 -

     

    

 

8.6.
Ten Percent Shareholder. In the case of an Incentive Stock Option granted to a Ten Percent Shareholder, (i) the Exercise
Price shall not be less than one hundred and ten percent (110%) of the Fair Market Value of a Share on the date of grant of such
Incentive Stock Option, and (ii) the Exercise Period shall not exceed five (5) years from the effective date of grant of such
Incentive Stock Option.

 

8.7.
Payment of Exercise Price. Each Award Agreement evidencing an Incentive Stock Option shall state each alternative method
by which the Exercise Price thereof may be paid.

 

8.8.
Leave of Absence. Notwithstanding Section 6.8, a Grantee’s employment shall not be deemed to have terminated if the
Grantee takes any leave as set forth in Section 6.8(i); provided, however, that if any such leave exceeds three (3) months, on
the day that is six (6) months following the commencement of such leave any Incentive Stock Option held by the Grantee shall cease
to be treated as an Incentive Stock Option and instead shall be treated thereafter as a Nonqualified Stock Option, unless the
Grantee’s right to return to employment is guaranteed by statute or contract.

 

8.9.
Exercise Following Termination for Disability. Notwithstanding anything else in this Plan to the contrary, Incentive Stock
Options that are not exercised within three (3) months following termination of the Grantee’s employment with the Company
or its Parent or Subsidiary or a corporation or a Parent or Subsidiary of such corporation issuing or assuming an Option in a
transaction to which Section 424(a) of the Code applies, or within one year in case of termination of the Grantee’s employment
with the Company or its Parent or Subsidiary due to a Disability (within the meaning of Section 22(e)(3) of the Code), shall be
deemed to be Nonqualified Stock Options.

 

8.10.
Adjustments to Incentive Stock Options. Any Awards Agreement providing for the grant of Incentive Stock Options shall indicate
that adjustments made pursuant to this Plan with respect to Incentive Stock Options could constitute a “modification”
of such Incentive Stock Options (as that term is defined in Section 424(h) of the Code) or could cause adverse tax consequences
for the holder of such Incentive Stock Options and that the holder should consult with his or her tax advisor regarding the consequences
of such “modification” on his or her income tax treatment with respect to the Incentive Stock Option.

 

8.11. Notice
to Company of Disqualifying Disposition. Each Grantee who receives an Incentive Stock Option must agree to notify the
Company in writing immediately after the Grantee makes a Disqualifying Disposition of any Shares received pursuant to
the exercise of Incentive Stock Options. A “Disqualifying Disposition” is any disposition (including any sale) of
such Shares before the later of (i) two years after the date the Grantee was granted the Incentive Stock Option, or
(ii) one year after the date the Grantee acquired Shares by exercising the Incentive Stock Option. If the Grantee dies before
such Shares are sold, these holding period requirements do not apply and no disposition of the Shares will be deemed a
Disqualifying Disposition.

 

		9.	102
                                         AWARDS.

 

Awards
granted pursuant to this Section 9 are intended to constitute 102 Awards and shall be granted subject to the following special
terms and conditions, the general terms and conditions specified in Section 6 hereof and other provisions of this Plan, except
for any provisions of this Plan applying to Awards under different tax laws or regulations. In the event of any inconsistency
or contradictions between the provisions of this Section 9 and the other terms of this Plan, this Section 9 shall prevail.

 

    - 16 -

     

    

 

9.1.
Tracks. Awards granted pursuant to this Section 9 are intended to be granted pursuant to Section 102 of the Ordinance pursuant
to either (i) Section 102(b)(2) thereof, under the capital gain track (“102 Capital Gain Track Awards”), or
(ii) Section 102(b)(1) thereof under the ordinary income track (“102 Ordinary Income Track Awards”, and together
with 102 Capital Gain Track Awards, “102 Trustee Awards”). 102 Trustee Awards shall be granted subject to the
special terms and conditions contained in this Section 9, the general terms and conditions specified in Section 6 hereof and other
provisions of this Plan, except for any provisions of this Plan applying to Options under different tax laws or regulations.

 

9.2.
Election of Track. Subject to Applicable Law, the Company may grant only one type of 102 Trustee Awards at any given time
to all Grantees who are to be granted 102 Trustee Awards pursuant to this Plan, and shall file an election with the ITA regarding
the type of 102 Trustee Awards it elects to grant before the date of grant of any 102 Trustee Awards (the “Election”).
Such Election shall also apply to any other securities, including bonus shares, received by any Grantee as a result of holding
the 102 Trustee Awards. The Company may change the type of 102 Trustee Awards that it elects to grant only after the expiration
of at least 12 months from the end of the year in which the first grant was made in accordance with the previous Election, or
as otherwise provided by Applicable Law. Any Election shall not prevent the Company from granting Awards, pursuant to Section
102(c) of the Ordinance without a Trustee (“102 Non-Trustee Awards”).

 

9.3.
Eligibility for Awards.

 

9.3.1. Subject
to Applicable Law, 102 Awards may only be granted to an “employee” within the meaning of Section 102(a) of the Ordinance
(which as of the date of the adoption of this Plan means (i) individuals employed by an Israeli company being the Company or any
of its Affiliates, and (ii) individuals who are serving and are engaged personally (and not through an entity) as “office
holders” by such an Israeli company), but may not be granted to a Controlling Shareholder (“Eligible 102 Grantees”).
Eligible 102 Grantees may receive only 102 Awards, which may either be granted to a Trustee or granted under Section 102 of the
Ordinance without a Trustee.

 

 9.4. 102 Award Grant Date.

 

9.4.1.
Each 102 Award will be deemed granted on the date determined by the Committee, subject to Section 9.4.2, provided that (i) the
Grantee has signed all documents required by the Company or pursuant to Applicable Law, and (ii) with respect to 102 Trustee Award,
the Company has provided all applicable documents to the Trustee in accordance with the guidelines published by the ITA, and if
an agreement is not signed and delivered by the Grantee within 90 days from the date determined by the Committee (subject to Section
9.4.2), then such 102 Trustee Award shall be deemed granted on such later date as such agreement is signed and delivered and on
which the Company has provided all applicable documents to the Trustee in accordance with the guidelines published by the ITA.
In the case of any contradiction, this provision and the date of grant determined pursuant hereto shall supersede and be deemed
to amend any date of grant indicated in any corporate resolution or Award Agreement.

 

9.4.2.
Unless otherwise permitted by the Ordinance, any grants of 102 Trustee Awards that are made on or after the date of the adoption
of this Plan or an amendment to this Plan, as the case may be, that may become effective only at the expiration of thirty (30)
days after the filing of this Plan or any amendment thereof (as the case may be) with the ITA in accordance with the Ordinance
shall be conditional upon the expiration of such 30-day period, such condition shall be read and is incorporated by reference
into any corporate resolutions approving such grants and into any Award Agreement evidencing such grants (whether or not explicitly
referring to such condition), and the date of grant shall be at the expiration of such 30-day period, whether or not the date
of grant indicated therein corresponds with this Section. In the case of any contradiction, this provision and the date of grant
determined pursuant hereto shall supersede and be deemed to amend any date of grant indicated in any corporate resolution or Award
Agreement.

 

    - 17 -

     

    

 

 9.5. 102 Trustee Awards.

 

9.5.1.
Each 102 Trustee Award, each Share issued pursuant to the exercise of any 102 Trustee Award, and any rights granted thereunder,
including bonus shares, shall be issued to and registered in the name of the Trustee and shall be held in trust for the benefit
of the Grantee for the requisite period prescribed by the Ordinance or such longer period as set by the Committee (the “Required
Holding Period”). In the event that the requirements under Section 102 of the Ordinance to qualify an Award as a 102
Trustee Award are not met, then the Award may be treated as a 102 Non- Trustee Award or 3(9) Award, all in accordance with the
provisions of the Ordinance. After expiration of the Required Holding Period, the Trustee may release such 102 Trustee Awards
and any such Shares, provided that (i) the Trustee has received an acknowledgment from the ITA that the Grantee has paid any applicable
taxes due pursuant to the Ordinance, or (ii) the Trustee and/or the Company and/or its Affiliate withholds all applicable taxes
and compulsory payments due pursuant to the Ordinance arising from the 102 Trustee Awards and/or any Shares issued upon exercise
or (if applicable) vesting of such 102 Trustee Awards. The Trustee shall not release any 102 Trustee Awards or Shares issued upon
exercise or (if applicable) vesting thereof prior to the payment in full of the Grantee’s tax and compulsory payments arising
from such 102 Trustee Awards and/or Shares or the withholding referred to in (ii) above.

 

9.5.2.
Each 102 Trustee Award shall be subject to the relevant terms of the Ordinance, the Rules and any determinations, rulings or approvals
issued by the ITA, which shall be deemed an integral part of the 102 Trustee Awards and shall prevail over any term contained
in this Plan or Award Agreement that is not consistent therewith. Any provision of the Ordinance, the Rules and any determinations,
rulings or approvals by the ITA not expressly specified in this Plan or Award Agreement that are necessary to receive or maintain
any tax benefit pursuant to Section 102 of the Ordinance shall be binding on the Grantee. The Grantee granted a 102 Trustee Awards
shall comply with the Ordinance and the terms and conditions of the trust agreement entered into between the Company and the Trustee.
The Grantee shall execute any and all documents that the Company and/or its Affiliates and/or the Trustee determine from time
to time to be necessary in order to comply with the Ordinance and the Rules.

 

9.5.3.
During the Required Holding Period, the Grantee shall not release from trust or sell, assign, transfer or give as collateral,
the Shares issuable upon the exercise or (if applicable) vesting of a 102 Trustee Awards and/or any securities issued or distributed
with respect thereto, until the expiration of the Required Holding Period. Notwithstanding the above, if any such sale, release
or other action occurs during the Required Holding Period it may result in adverse tax consequences to the Grantee under Section
102 of the Ordinance and the Rules, which shall apply to and shall be borne solely by such Grantee. Subject to the foregoing,
the Trustee may, pursuant to a written request from the Grantee, but subject to the terms of this Plan, release and transfer such
Shares to a designated third party, provided that both of the following conditions have been fulfilled prior to such release or
transfer: (i) payment has been made to the ITA of all taxes and compulsory payments required to be paid upon the release and transfer
of the Shares, and confirmation of such payment has been received by the Trustee and the Company, and (ii) the Trustee has received
written confirmation from the Company that all requirements for such release and transfer have been fulfilled according to the
terms of the Company’s corporate documents, any agreement governing the Shares, this Plan, the Award Agreement and any Applicable
Law.

 

9.5.4.
If a 102 Trustee Award is exercised or (if applicable) vested, the Shares issued upon such exercise or (if applicable) vesting
shall be issued in the name of the Trustee for the benefit of the Grantee.

 

9.5.5.
Upon or after receipt of a 102 Trustee Award, if required, the Grantee may be required to sign an undertaking to release the Trustee
from any liability with respect to any action or decision duly taken and executed in good faith by the Trustee in relation to
this Plan, or any 102 Trustee Awards or Share granted to such Grantee thereunder.

 

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9.6. 102
Non-Trustee Awards. The foregoing provisions of this Section 9 relating to 102 Trustee Awards shall not apply with
respect to 102 Non-Trustee Awards, which shall, however, be subject to the relevant provisions of Section 102 of the
Ordinance and the applicable Rules. The Committee may determine that 102 Non-Trustee Awards, the Shares issuable upon the
exercise or (if applicable) vesting of a 102 Non-Trustee Awards and/or any securities issued or distributed with respect
thereto, shall be allocated or issued to the Trustee, who shall hold such 102 Non-Trustee Awards and all accrued rights
thereon (if any), in trust for the benefit of the Grantee and/or the Company, as the case may be, until the full payment of
tax arising from the 102 Non-Trustee Awards, the Shares issuable upon the exercise or (if applicable) vesting of a 102
Non-Trustee Awards and/or any securities issued or distributed with respect thereto. The Company may choose, alternatively,
to force the Grantee to provide it with a guarantee or other security, to the satisfaction of each of the Trustee and the
Company, until the full payment of the applicable taxes.

 

9.7.
Written Grantee Undertaking. To the extent and with respect to any 102 Trustee Award, and as required by Section 102 of
the Ordinance and the Rules, by virtue of the receipt of such Award, the Grantee is deemed to have undertaken and confirm in writing
the following (and such undertaking is deemed incorporated into any documents signed by the Grantee in connection with the employment
or service of the Grantee and/or the grant of such Award). The following written undertaking shall be deemed to apply and relate
to all 102 Trustee Awards granted to the Grantee, whether under this Plan or other plans maintained by the Company, and whether
prior to or after the date hereof.

 

9.7.1.
The Grantee shall comply with all terms and conditions set forth in Section 102 of the Ordinance with regard to the “Capital
Gain Track” or the “Ordinary Income Track”, as applicable, and the applicable rules and regulations promulgated
thereunder, as amended from time to time;

 

9.7.2.
The Grantee is familiar with, and understands the provisions of, Section 102 of the Ordinance in general, and the tax arrangement
under the “Capital Gain Track” or the “Ordinary Income Track” in particular, and its tax consequences;
the Grantee agrees that the 102 Trustee Awards and Shares that may be issued upon exercise or (if applicable) vesting of the 102
Trustee Awards (or otherwise in relation to the 102 Trustee Awards), will be held by a trustee appointed pursuant to Section 102
of the Ordinance for at least the duration of the “Holding Period” (as such term is defined in Section 102) under
the “Capital Gain Track” or the “Ordinary Income Track”, as applicable. The Grantee understands that any
release of such 102 Trustee Awards or Shares from trust, or any sale of the Share prior to the termination of the Holding Period,
as defined above, will result in taxation at marginal tax rate, in addition to deductions of appropriate social security, health
tax contributions or other compulsory payments; and

 

9.7.3.
The Grantee agrees to the trust agreement signed between the Company, his employing company and the trustee appointed pursuant
to Section 102 of the Ordinance.

 

		10.	3(9)
                                         AWARDS.

 

Awards
granted pursuant to this Section 10 are intended to constitute 3(9) Awards and shall be granted subject to the general terms and
conditions specified in Section 6 hereof and other provisions of this Plan, except for any provisions of this Plan applying to
Awards under different tax laws or regulations. In the event of any inconsistency or contradictions between the provisions of
this Section 10 and the other terms of this Plan, this Section 10 shall prevail.

 

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10.1.
To the extent required by the Ordinance or the ITA or otherwise deemed by the Committee to be advisable, the 3(9) Awards
and/or any shares or other securities issued or distributed with respect thereto granted pursuant to this Plan shall be
issued to a Trustee nominated by the Committee in accordance with the provisions of the Ordinance. In such event, the Trustee
shall hold such Awards and/or any shares or other securities issued or distributed with respect thereto in trust, until
exercised or (if applicable) vested by the Grantee and the full payment of tax arising therefrom, pursuant to the
Company’s instructions from time to time as set forth in a trust agreement, which will have been entered into between
the Company and the Trustee. If determined by the Board or the Committee, and subject to such trust agreement, the Trustee
will also hold the shares issuable upon exercise or (if applicable) vesting of the 3(i) Awards, as long as they are held by
the Grantee. If determined by the Board or the Committee, and subject to such trust agreement, the Trustee shall be
responsible for withholding any taxes to which a Grantee may become liable upon issuance of Shares, whether due to the
exercise or (if applicable) vesting of Awards.

 

10.2.
Shares pursuant to a 3(9) Award shall not be issued, unless the Grantee delivers to the Company payment in cash or by bank check
or such other form acceptable to the Committee of all withholding taxes due, if any, on account of the Grantee acquired Shares
under the Award or gives other assurance satisfactory to the Committee of the payment of those withholding taxes.

 

		11.	RESTRICTED
                                         SHARES.

 

The
Committee may award Restricted Shares to any eligible Grantee, including under Section 102 of the Ordinance. Each Award of
Restricted Shares under this Plan shall be evidenced by a written agreement between the Company and the Grantee (the
“Restricted Share Agreement”), in such form as the Committee shall from time to time approve. The
Restricted Shares shall be subject to all applicable terms of this Plan, which in the case of Restricted Shares granted under
Section 102 of the Ordinance shall include Section 9 hereof, and may be subject to any other terms that are not inconsistent
with this Plan. The provisions of the various Restricted Shares Agreements entered into under this Plan need not be
identical. The Restricted Share Agreement shall comply with and be subject to Section 6 and the following terms and
conditions, unless otherwise specifically provided in such Agreement and not inconsistent with this Plan, or Applicable
Law:

 

11.1.
Purchase Price. Section 6.4 shall not apply. Each Restricted Share Agreement shall state an amount of Exercise Price to
be paid by the Grantee, if any, in consideration for the issuance of the Restricted Shares and the terms of payment thereof, which
may include, payment in cash or, subject to the Committee’s approval, by issuance of promissory notes or other evidence
of indebtedness on such terms and conditions as determined by the Committee.

 

11.2.
Restrictions. Restricted Shares may not be sold, assigned, transferred, pledged, hypothecated or otherwise disposed of,
except by will or the laws of descent and distribution (in which case they shall be transferred subject to all restrictions then
or thereafter applicable thereto), until such Restricted Shares shall have vested (the period from the date on which the Award
is granted until the date of vesting of the Restricted Share thereunder being referred to herein as the “Restricted Period”).
The Committee may also impose such additional or alternative restrictions and conditions on the Restricted Shares, as it deems
appropriate, including the satisfaction of performance criteria. Such performance criteria may include, but are not limited to,
sales, earnings before interest and taxes, return on investment, earnings per share, any combination of the foregoing or rate
of growth of any of the foregoing, as determined by the Committee or pursuant to the provisions of any Company policy required
under mandatory provisions of Applicable Law. Certificates for shares issued pursuant to Restricted Share Awards, if issued, shall
bear an appropriate legend referring to such restrictions, and any attempt to dispose of any such shares in contravention of such
restrictions shall be null and void and without effect. Such certificates may, if so determined by the Committee, be held in escrow
by an escrow agent appointed by the Committee, or, if a Restricted Share Award is made pursuant to Section 102 of the Ordinance,
by the Trustee. In determining the Restricted Period of an Award the Committee may provide that the foregoing restrictions shall
lapse with respect to specified percentages of the awarded Restricted Shares on successive anniversaries of the date of such Award.
To the extent required by the Ordinance or the ITA, the Restricted Shares issued pursuant to Section 102 of the Ordinance shall
be issued to the Trustee in accordance with the provisions of the Ordinance and the Restricted Shares shall be held for the benefit
of the Grantee for at least the Required Holding Period.

 

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11.3.
Forfeiture; Repurchase. Subject to such exceptions as may be determined by the Committee, if the Grantee’s continuous
employment with or service to the Company or any Affiliate thereof shall terminate for any reason prior to the expiration of the
Restricted Period of an Award or prior to the timely payment in full of the Exercise Price of any Restricted Shares, any Shares
remaining subject to vesting or with respect to which the purchase price has not been paid in full, shall thereupon be forfeited,
transferred to, and redeemed, repurchased or cancelled by, as the case may be, in any manner as set forth in Section 6.6.2(i)
through (v), subject to Applicable Laws and the Grantee shall have no further rights with respect to such Restricted Shares.

 

11.4.
Ownership. During the Restricted Period the Grantee shall possess all incidents of ownership of such Restricted Shares,
subject to Section 6.10 and Section 11.2, including the right to vote and receive dividends with respect to such Shares. All securities,
if any, received by a Grantee with respect to Restricted Shares as a result of any stock split, stock dividend, combination of
shares, or other similar transaction shall be subject to the restrictions applicable to the original Award.

 

		12.	RESTRICTED
                                         SHARE UNITS.

 

An
RSU is an Award covering a number of Shares that is settled, if vested and (if applicable) exercised, by issuance of those Shares.
An RSU may be awarded to any eligible Grantee, including under Section 102 of the Ordinance. The Award Agreement relating to the
grant of RSUs under this Plan (the “Restricted Share Unit Agreement”), shall be in such form as the Committee
shall from time to time approve. The RSUs shall be subject to all applicable terms of this Plan, which in the case of RSUs granted
under Section 102 of the Ordinance shall include Section 9 hereof, and may be subject to any other terms that are not inconsistent
with this Plan. The provisions of the various Restricted Share Unit Agreements entered into under this Plan need not be identical.
RSUs may be granted in consideration of a reduction in the recipient’s other compensation.

 

12.1.
Exercise Price. No payment of Exercise Price shall be required as consideration for RSUs, unless included in the Award
Agreement or as required by Applicable Law (including, Section 304 of the Companies Law, 1999, as amended), and Section 6.4 shall
apply, if applicable.

 

12.2.
Shareholders’ Rights. The Grantee shall not possess or own any ownership rights in the Shares underlying the RSUs
and no rights as a shareholder shall exist prior to the actual issuance of Shares in the name of the Grantee.

 

12.3.
Settlements of Awards. Settlement of vested RSUs shall be made in the form of Shares. Distribution to a Grantee of an amount
(or amounts) from settlement of vested RSUs can be deferred to a date after settlement as determined by the Committee. The amount
of a deferred distribution may be increased by an interest factor or by dividend equivalents. Until the grant of RSUs is settled,
the number of Shares underlying such RSUs shall be subject to adjustment pursuant hereto.

 

12.4.
Section 409A Restrictions. Notwithstanding anything to the contrary set forth herein, any RSUs granted under this Plan
that are not exempt from the requirements of Section 409A of the Code shall contain such restrictions or other provisions so that
such RSUs will comply with the requirements of Section 409A of the Code, if applicable to the Company. Such restrictions, if any,
shall be determined by the Committee and contained in the Restricted Share Unit Agreement evidencing such RSU. For example, such
restrictions may include a requirement that any Shares that are to be issued in a year following the year in which the RSU vests
must be issued in accordance with a fixed, pre-determined schedule.

 

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		13.	OTHER
                                         SHARE OR SHARE-BASED AWARDS.

 

13.1.
The Committee may grant other Awards under this Plan pursuant to which Shares (which may, but need not, be Restricted Shares
pursuant to Section 11 hereof), cash (in settlement of Share-based Awards) or a combination thereof, are or may in the future
be acquired or received, or Awards denominated in stock units, including units valued on the basis of measures other than
market value.

 

13.2.
The Committee may also grant stock appreciation rights without the grant of an accompanying option, which rights shall permit
the Grantees to receive, at the time of any exercise of such rights, cash equal to the amount by which the Fair Market Value of
the Shares in respect to which the right was granted is so exercised exceed the exercise price thereof. The exercise price of
any such stock appreciation right granted to a Grantee who is subject to U.S. federal income tax shall be determined in compliance
with Section 7.2.

 

13.3.
Such other Share-based Awards as set forth above may be granted alone, in addition to, or in tandem with any Award of any type
granted under this Plan.

 

		14.	EFFECT
                                         OF CERTAIN CHANGES.

 

 14.1. General.

 

14.1.1.
In the event of a division or subdivision of the outstanding share capital of the Company, any distribution of bonus shares (stock
split), consolidation or combination of share capital of the Company (reverse stock split), reclassification with respect to the
Shares or any similar recapitalization events (each, a “Recapitalization”), a merger (including, a reverse
merger and a reverse triangular merger), consolidation, amalgamation or like transaction of the Company with or into another corporation,
a reorganization (which may include a combination or exchange of shares, spin-off or other corporate divestiture or division,
or other similar occurrences, the Committee shall have the authority to make, without the need for a consent of any holder of
an Award, such adjustments as determined by the Committee to be appropriate, in its discretion, in order to adjust (i) the number
and class of shares reserved and available for grants of Awards, (ii) the number and class of shares covered by outstanding Awards,
(iii) the Exercise Price per share covered by any Award, (iv) the terms and conditions concerning vesting and exercisability and
the term and duration of the outstanding Awards, and (v) the type or class of security, asset or right underlying the Award (which
need not be only that of the Company, and may be that of the surviving corporation or any affiliate thereof or such other entity
party to any of the above transactions), and (vi) any other terms of the Award that in the opinion of the Committee should be
adjusted. Any fractional shares resulting from such adjustment shall be treated as determined by the Committee, and in the absence
of such determination shall be rounded to the nearest whole share, and the Company shall have no obligation to make any cash or
other payment with respect to such fractional shares. No adjustment shall be made by reason of the distribution of subscription
rights or rights offering to outstanding shares or other issuance of shares by the Company, unless the Committee determines otherwise.
The adjustments determined pursuant to this Section 14.1 (including a determination that no adjustment is to be made) shall be
final, binding and conclusive.

 

14.1.2.
Notwithstanding anything to the contrary included herein, in the event of a distribution of cash dividend by the Company to all
holders of Shares, the Committee shall have the authority to determine, without the need for a consent of any holder of an Award,
that the Exercise Price of any Award, which is outstanding and unexercised on the record date of such distribution, shall be reduced
by an amount equal to the per Share gross dividend amount distributed by the Company, and the Committee may determine that the
Exercise Price following such reduction shall be not less than the par value of a Share. The application of this Section with
respect to any 102 Awards shall be subject to obtaining a ruling from the ITA, to the extent required by applicable law and subject
to the terms and conditions of any such ruling.

 

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14.2. Merger/Sale
of Company. In the event of (i) a sale of all or substantially all of the assets of the Company, or a sale (including an
exchange) of all or substantially all of the shares of the Company, to any person, or a purchase by a shareholder of the
Company or by an Affiliate of such shareholder, of all the shares of the Company held by all or substantially all other
shareholders or by other shareholders who are not Affiliated with such acquiring party; (ii) a merger (including, a reverse
merger and a reverse triangular merger), consolidation, amalgamation or like transaction of the Company with or into another
corporation; (iii) a scheme of arrangement for the purpose of effecting such sale, merger, consolidation, amalgamation or
other transaction; (iv) approval by the shareholders of the Company of a complete liquidation or dissolution of the Company,
, or (vi) such other transaction or set of circumstances that is determined by the Board, in its discretion, to be a
transaction subject to the provisions of this Section 14.2 excluding any of the above transactions in clauses (i) through
(iv)if the Board determines that such transaction should be excluded from the definition hereof and the applicability of this
Section 14.2 (such transaction, a “Merger/Sale”), then, without derogating from the general authority and
power of the Board or the Committee under this Plan, without the Grantee’s consent and action and without any prior
notice requirement:

 

14.2.1. Unless otherwise determined by the Committee in its sole and absolute discretion, any Award then outstanding shall be assumed
or be substituted by the Company, or by the successor corporation in such Merger/Sale or by any parent or Affiliate thereof, as
determined by the Committee in its discretion (the “Successor Corporation”), under terms as determined by the
Committee or the terms of this Plan applied by the Successor Corporation to such assumed or substituted Awards.

 

For
the purposes of this Section 14.2.1, the Award shall be considered assumed or substituted if, following a Merger/Sale, the Award
confers on the holder thereof the right to purchase or receive, for each Share underlying an Award immediately prior to the Merger/Sale,
either (i) the consideration (whether stock, cash, or other securities or other property, or any combination thereof) distributed
to or received by holders of Shares in the Merger/Sale for each Share held on the effective date of the Merger/Sale (and if holders
were offered a choice or several types of consideration, the type of consideration as determined by the Committee), or (ii) regardless
of the consideration received by the holders of Shares in the Merger/Sale, solely shares or any type of Awards (or their equivalent)
of the Successor Corporation at a value to be determined by the Committee in its discretion, or a certain type of consideration
(whether stock, cash, or other securities or property, or any combination thereof) as determined by the Committee. Any of the
above consideration referred to in clauses (i) and (ii) shall be subject to the same vesting and expiration terms of the Awards
applying immediately prior to the Merger/Sale, unless determined by the Committee in its discretion that the consideration shall
be subject to different vesting and expiration terms, or other terms, and the Committee may determine that it be subject to other
or additional terms. The foregoing shall not limit the Committee’s authority to determine, in its sole discretion, that
in lieu of such assumption or substitution of Awards for Awards of the Successor Corporation, such Award will be substituted for
any other type of asset or other property, or rights, or any combination thereof including as set forth in Section 14.2.2 hereunder.

 

14.2.2.
Regardless of whether or not Awards are assumed or substituted, the Committee may (but shall not be obligated to), in its sole
discretion:

 

14.2.2.1.
provide for the Grantee to have the right to exercise the Award in respect of Shares covered by the Award which would
otherwise be exercisable or vested, under such terms and conditions as the Committee shall determine, and the cancellation of
all unexercised Awards (whether vested or unvested) upon or immediately prior to the closing of the Merger/Sale, unless the
Committee provides for the Grantee to have the right to exercise the Award, or otherwise for the acceleration of vesting of
such Award, as to all or part of the Shares covered by the Award which would not otherwise be exercisable or vested, under
such terms and conditions as the Committee shall determine; and/or

 

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14.2.2.2.
provide for the cancellation of each outstanding Award at or immediately prior to the closing of such Merger/Sale, and
payment to the Grantee of an amount in cash, shares of the Company, the acquiror or of a corporation or other business entity
which is a party to the Merger/Sale or other property, as determined by the Committee to be fair in the circumstances, and
subject to such terms and conditions as determined by the Committee. The Committee shall have full authority to select the
method for determining the payment (being the Black-Scholes model or any other method). The Committee’s determination
may further provide that payment shall be set to zero if the value of the Shares is determined to be less than the Exercise
Price or in respect of Shares covered by the Award which would not otherwise be exercisable or vested, or that payment may be
made only in excess of the Exercise Price.

 

14.2.3.
The Committee may determine that any payments made in respect of Awards shall be made or delayed to the same extent that
payment of consideration to the holders of the Shares in connection with the Merger/Sale is made or delayed as a result of
escrows, indemnification, earn outs, holdbacks or any other contingencies; and the terms and conditions applying to the
payment made to the Grantees, including participation in escrow, indemnification, releases, earn-outs, holdbacks or any other
contingencies.

 

14.2.4.
Notwithstanding anything to the contrary, in the event of a Merger/Sale, the Committee may determine, in its sole
discretion, that upon completion of such Merger/Sale the terms of any Award shall be otherwise amended, modified or
terminated, as the Committee shall deem in good faith to be appropriate and without any liability to the Company or its
Affiliates and to their respective officers, directors, employees and representatives and the respective successors and
assigns of any of the foregoing in connection with the method of treatment or chosen course of action permitted
hereunder.

 

14.2.5.
Neither the authorities and powers of the Committee under this Section 14.2, nor the exercise or implementation thereof, shall
(i) be restricted or limited in any way by any adverse consequences (tax or otherwise) that may result to any holder of an Award,
and (ii) as, inter alia, being a feature of the Award upon its grant, be deemed to constitute a change or an amendment
of the rights of such holder under this Plan, nor shall any such adverse consequences (as well as any adverse tax consequences
that may result from any tax ruling or other approval or determination of any relevant tax authority) be deemed to constitute
a change or an amendment of the rights of such holder under this Plan, and may be effected without consent of any Grantee and
without any liability to the Company or its Affiliates and to their respective its officers, directors, employees and representatives
and the respective successors and assigns of any of the foregoing. The Committee need not take the same action with respect to
all Awards or with respect to all Service Providers. The Committee may take different actions with respect to the vested and unvested
portions of an Award. The Committee may determine an amount or type of consideration to be received or distributed in a Merger/Sale
which may differ as among the Grantees, and as between the Grantees and any other holders of shares of the Company.

 

14.2.6.
The Committee’s determinations pursuant to this Section 14 shall be conclusive and binding on all Grantees.

 

14.2.7.
If determined by the Committee, the Grantees shall be subject to the definitive agreement(s) in connection with the Merger/Sale
as applying to holders of Shares including, such terms, conditions, representations, undertakings, liabilities, limitations, releases,
indemnities, participating in transaction expenses and escrow arrangement, in each case as determined by the Committee. Each Grantee
shall execute such separate agreement(s) or instruments as may be requested by the Company, the Successor Corporation or the acquiror
in connection with such in such Merger/Sale and in the form required by them. The execution of such separate agreement(s) may
be a condition to the receipt of assumed or substituted Awards, payment in lieu of the Award or the exercise of any Award.

 

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14.3.
Reservation of Rights. Except as expressly provided in this Section 14 (if any), the Grantee of an Award hereunder shall
have no rights by reason of any Recapitalization of shares of any class, any increase or decrease in the number of shares of any
class, or any dissolution, liquidation, reorganization (which may include a combination or exchange of shares, spin-off or other
corporate divestiture or division, or other similar occurrences), or Merger/Sale. Any issue by the Company of shares of any class,
or securities convertible into shares of stock of any class, shall not affect, and no adjustment by reason thereof shall be made
with respect to, the number, type or price of shares subject to an Award. The grant of an Award pursuant to this Plan shall not
affect in any way the right or power of the Company to make adjustments, reclassifications, reorganizations or changes of its
capital or business structures or to merge or to consolidate or to dissolve, liquidate or sell, or transfer all or part of its
business or assets or engage in any similar transactions.

 

		15.	NON-TRANSFERABILITY
                                         OF AWARDS; SURVIVING BENEFICIARY.

 

15.1.
All Awards granted under this Plan by their terms shall not be transferable other than by will or by the laws of descent and distribution,
unless otherwise determined by the Committee or under this Plan, provided that with respect to Shares issued upon exercise or
(if applicable) the vesting of Awards the restrictions on transfer shall be the restrictions referred to in Section 16 (Conditions
upon Issuance of Shares) hereof. Subject to the above provisions, the terms of such Award, this Plan and any applicable Award
Agreement shall be binding upon the beneficiaries, executors, administrators, heirs and successors of such Grantee. Awards may
be exercised or otherwise realized, during the lifetime of the Grantee, only by the Grantee or by his guardian or legal representative,
to the extent provided for herein. Any transfer of an Award not permitted hereunder (including transfers pursuant to any decree
of divorce, dissolution or separate maintenance, any property settlement, any separation agreement or any other agreement with
a spouse) and any grant of any interest in any Award to, or creation in any way of any direct or indirect interest in any Award
by, any party other than the Grantee shall be null and void and shall not confer upon any party or person, other than the Grantee,
any rights. A Grantee may file with the Committee a written designation of a beneficiary, who shall be permitted to exercise such
Grantee’s Award or to whom any benefit under this Plan is to be paid, in each case, in the event of the Grantee’s
death before he or she fully exercises his or her Award or receives any or all of such benefit, on such form as may be prescribed
by the Committee and may, from time to time, amend or revoke such designation. If no designated beneficiary survives the Grantee,
the executor or administrator of the Grantee’s estate shall be deemed to be the Grantee’s beneficiary. Notwithstanding
the foregoing, upon the request of the Grantee and subject to Applicable Law the Committee, at its sole discretion, may permit
the Grantee to transfer the Award to a trust whose beneficiaries are the Grantee and/or the Grantee’s immediate family members
(all or several of them).

 

15.2.
Notwithstanding any other provisions of the Plan to the contrary, no Incentive Stock Option may be sold, transferred, pledged,
assigned or otherwise alienated or hypothecated, other than by will or by the laws of descent and distribution or in accordance
with a beneficiary designation pursuant to Section 15.1. Further, all Incentive Stock Options granted to a Grantee shall be exercisable
during his or her lifetime only by such Grantee.

 

15.3.
As long as the Shares are held by the Trustee in favor of the Grantee, all rights possessed by the Grantee over the Shares are
personal, and may not be transferred, assigned, pledged or mortgaged, other than by will or laws of descent and distribution.

 

15.4.
The provisions of this Section 15 shall apply to the Grantee and to any purchaser, assignee or transferee of any Shares.

 

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		16.	CONDITIONS
                                         UPON ISSUANCE OF SHARES; GOVERNING PROVISIONS.

 

16.1. Legal
Compliance. The grant of Awards and the issuance of Shares upon exercise or settlement of Awards shall be subject to
compliance with all Applicable Laws as determined by the Company, including, applicable requirements of federal, state
and foreign law with respect to such securities. The Company shall have no obligations to issue Shares pursuant to the
exercise or settlement of an Award and Awards may not be exercised or settled, if the issuance of Shares upon exercise or
settlement would constitute a violation of any Applicable Laws as determined by the Company, including, applicable federal,
state or foreign securities laws or other law or regulations or the requirements of any stock exchange or market system upon
which the Shares may then be listed. In addition, no Award may be exercised unless (i) a registration statement under the
Securities Act or equivalent law in another jurisdiction shall at the time of exercise or settlement of the Award be in
effect with respect to the shares issuable upon exercise of the Award, or (ii) in the opinion of legal counsel to the
Company, the shares issuable upon exercise of the Award may be issued in accordance with the terms of an applicable exemption
from the registration requirements of the Securities Act or equivalent law in another jurisdiction. The inability of the
Company to obtain authority from any regulatory body having jurisdiction, if any, deemed by the Company to be necessary to
the lawful issuance and sale of any Shares hereunder, and the inability to issue Shares hereunder due to non-compliance with
any Company policies with respect to the sale of Shares, shall relieve the Company of any liability in respect of the failure
to issue or sell such Shares as to which such requisite authority or compliance shall not have been obtained or achieved. As
a condition to the exercise of an Award, the Company may require the person exercising such Award to satisfy any
qualifications that may be necessary or appropriate, to evidence compliance with any Applicable Law or regulation and to make
any representation or warranty with respect thereto as may be requested by the Company, including to represent and warrant at
the time of any such exercise that the Shares are being purchased only for investment and without any present intention to
sell or distribute such Shares, all in form and content specified by the Company.

 

16.2.
Provisions Governing Shares. Shares issued pursuant to an Award shall be subject to this Plan (unless otherwise determined
by the Committee), and shall be subject to the Articles of Association of the Company, any limitation, restriction or obligation
included in any shareholders agreement applicable to all or substantially all of the holders of shares (regardless of whether
or not the Grantee is a formal party to such shareholders agreement), any other governing documents of the Company, all policies,
manuals and internal regulations adopted by the Company from time to time, in each case, as may be amended from time to time,
including any provisions included therein concerning restrictions or limitations on disposition of Shares (such as, but not limited
to, right of first refusal and lock up/market stand-off) or grant of any rights with respect thereto, forced sale and bring along
provisions, any provisions concerning restrictions on the use of inside information and other provisions deemed by the Company
to be appropriate in order to ensure compliance with Applicable Laws. Each Grantee shall execute such separate agreement(s) as
may be requested by the Company relating to matters set forth in or otherwise for the purpose of implementing this Section 16.2.
The execution of such separate agreement(s) may be a condition by the Company to the exercise of any Award.

 

16.3. Forced
Sale. In the event the that Board approves a Merger/Sale effected by way of a forced or compulsory sale (whether pursuant
to the Company’s Articles of Association or pursuant to Section 341 of the Companies Law), then, without
derogating from such provisions and in addition thereto, the Grantee shall be obligated, and shall be deemed to have agreed
to the offer to effect the Merger/Sale on the terms approved by the Board (and the Shares held by or for the benefit of the
Grantee shall be included in the shares of the Company approving the terms of such Merger/Sale for the purpose of satisfying
the required majority), and shall sell all of the Shares held by or for the benefit of the Grantee on the terms and
conditions applying to the holders of Shares, in accordance with the instructions then issued by the Board, whose
determination shall be final. No Grantee shall contest, bring any claims or demands, or exercise any appraisal rights related
to any of the foregoing. The proxy pursuant to Section 6.10 includes an authorization of the holder of such proxy to sign, by
and on behalf of any Grantee, such documents and agreements as are required to affect the sale of Shares in connection with
such Merger/Sale.

 

 16.4. 16.4.

 

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		17.	MARKET
                                         STAND-OFF

 

17.1.
In connection with any underwritten public offering of equity securities of the Company pursuant to an effective registration
statement filed under the Securities Act or equivalent law in another jurisdiction, the Grantee shall not directly or indirectly,
without the prior written consent of the Company or its underwriters, (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 Shares or other Awards, any securities of the Company (whether or not such
Shares were acquired under this Plan), or any securities convertible into or exercisable or exchangeable (directly or indirectly)
for Shares or securities of the Company and any other shares or securities issued or distributed in respect thereto or in substitution
thereof (collectively, “Securities”), 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 Securities, whether any such transaction described in
clauses (i) or (ii) is to be settled by delivery of Securities, in cash or otherwise. The foregoing provisions of this Section
17.1 shall not apply to the sale of any shares to an underwriter pursuant to an underwriting agreement. Such restrictions
(the “Market Stand-Off”) shall be in effect for such period of time (the “Market Stand-Off Period”):
(A) following the first public filing of the registration statement relating to the underwritten public offering until the extirpation
of 180 days following the effective date of such registration statement relating to the Company’s initial public offering
or 90 days following the effective date of such registration statement relating to any other public offering, in each case, provided,
however, that if (1) during the last 17 days of the initial Market Stand-Off Period, the Company releases earnings results or
announces material news or a material event or (2) prior to the expiration of the initial Market Stand-Off Period, the Company
announces that it will release earnings results during the 15-day period following the last day of the initial Market Stand-Off
Period, then in each case the Market Stand-Off Period will be automatically extended until the expiration of the 18-day period
beginning on the date of release of the earnings results or the announcement of the material news or material event; or (B) such
other period as shall be requested by the Company or the underwriters. Notwithstanding anything herein to the contrary, if the
underwriter(s) and the Company agree on a termination date of the Market Stand-Off Period in the event of failure to consummate
a certain public offering, then such termination shall apply also to the Market Stand-Off Period hereunder with respect to that
particular public offering.

 

17.2.
In the event of a subdivision of the outstanding share capital of the Company, the distribution of any securities (whether or
not of the Company), whether as bonus shares or otherwise, and whether as dividend or otherwise, a recapitalization, a reorganization
(which may include a combination or exchange of shares or a similar transaction affecting the Company’s outstanding securities
without receipt of consideration), a consolidation, a spin-off or other corporate divestiture or division, a reclassification
or other similar occurrence, any new, substituted or additional securities which are by reason of such transaction distributed
with respect to any Shares subject to the Market Stand-Off, or into which such Shares thereby become convertible, shall immediately
be subject to the Market Stand-Off.

 

17.3.
In order to enforce the Market Stand-Off, the Company may impose stop-transfer instructions with respect to the Shares acquired
under this Plan until the end of the applicable Market Stand-Off period.

 

17.4.
The underwriters in connection with a registration statement so filed are intended third party beneficiaries of this Section 17
and shall have the right, power and authority to enforce the provisions hereof as though they were a party hereto. Each Grantee
shall execute such separate agreement(s) as may be requested by the Company or the underwriters in connection with such registration
statement and in the form required by them, relating to Market Stand-Off (which need not be identical to the provisions of this
Section 17, and may include such additional provisions and restrictions as the underwriters deem advisable) or that are necessary
to give further effect thereto. The execution of such separate agreement(s) may be a condition by the Company to the exercise
of any Award.

 

17.5.
Without derogating from the above provisions of this Section 17 or elsewhere in this Plan, the provisions of this Section 17 shall
apply to the Grantee and the Grantee’s heirs, legal representatives, successors, assigns, and to any purchaser, assignee
or transferee of any Awards or Shares.

 

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		18.	AGREEMENT
                                         REGARDING TAXES; DISCLAIMER.

 

18.1.
If the Committee shall so require, as a condition of exercise of an Award, the release of Shares by the Trustee or the expiration
of the Restricted Period, a Grantee shall agree that, no later than the date of such occurrence, the Grantee will pay to the Company
(or the Trustee, as applicable) or make arrangements satisfactory to the Committee and the Trustee (if applicable) regarding payment
of any applicable taxes and compulsory payments of any kind required by Applicable Law to be withheld or paid.

 

18.2.
TAX LIABILITY. ALL TAX CONSEQUENCES UNDER ANY APPLICABLE LAW WHICH MAY ARISE FROM THE GRANT OF ANY AWARDS OR THE EXERCISE
THEREOF, THE SALE OR DISPOSITION OF ANY SHARES GRANTED HEREUNDER OR ISSUED UPON EXERCISE OR (IF APPLICABLE) THE VESTING OF ANY
AWARD, THE ASSUMPTION, SUBSTITUTION, CANCELLATION OR PAYMENT IN LIEU OF AWARDS OR FROM ANY OTHER ACTION IN CONNECTION WITH THE
FOREGOING (INCLUDING WITHOUT LIMITATION ANY TAXES AND COMPULSORY PAYMENTS, SUCH AS SOCIAL SECURITY OR HEALTH TAX PAYABLE BY THE
GRANTEE OR THE COMPANY IN CONNECTION THEREWITH) SHALL BE BORNE AND PAID SOLELY BY THE GRANTEE, AND THE GRANTEE SHALL INDEMNIFY
THE COMPANY, ITS SUBSIDIARIES AND AFFILIATES AND THE TRUSTEE, AND SHALL HOLD THEM HARMLESS AGAINST AND FROM ANY LIABILITY FOR
ANY SUCH TAX OR PAYMENT OR ANY PENALTY, INTEREST OR INDEXATION THEREON. EACH GRANTEE AGREES TO, AND UNDERTAKES TO COMPLY WITH,
ANY RULING, SETTLEMENT, CLOSING AGREEMENT OR OTHER SIMILAR AGREEMENT OR ARRANGEMENT WITH ANY TAX AUTHORITY IN CONNECTION WITH
THE FOREGOING WHICH IS APPROVED BY THE COMPANY.

 

18.3.
NO TAX ADVICE. THE GRANTEE IS ADVISED TO CONSULT WITH A TAX ADVISOR WITH RESPECT TO THE TAX CONSEQUENCES OF RECEIVING,
EXERCISING OR DISPOSING OF AWARDS HEREUNDER. THE COMPANY DOES NOT ASSUME ANY RESPONSIBILITY TO ADVISE THE GRANTEE ON SUCH MATTERS,
WHICH SHALL REMAIN SOLELY THE RESPONSIBILITY OF THE GRANTEE.

 

18.4. TAX
TREATMENT. THE COMPANY AND ITS AFFILIATES DO NOT UNDERTAKE OR ASSUME ANY LIABILITY OR RESPONSIBILITY TO THE EFFECT THAT
ANY AWARD SHALL QUALIFY WITH ANY PARTICULAR TAX REGIME OR RULES APPLYING TO PARTICULAR TAX TREATMENT, OR BENEFIT FROM
ANY PARTICULAR TAX TREATMENT OR TAX ADVANTAGE OF ANY TYPE AND THE COMPANY AND ITS AFFILIATES SHALL BEAR NO LIABILITY IN
CONNECTION WITH THE MANNER IN WHICH ANY AWARD IS EVENTUALLY TREATED FOR TAX PURPOSES, REGARDLESS OF WHETHER THE AWARD WAS
GRANTED OR WAS INTENDED TO QUALIFY UNDER ANY PARTICULAR TAX REGIME OR TREATMENT. THIS PROVISION SHALL SUPERSEDE ANY TYPE OF
AWARDS OR TAX QUALIFICATION INDICATED IN ANY CORPORATE RESOLUTION OR AWARD AGREEMENT, WHICH SHALL AT ALL TIMES BE SUBJECT TO
THE REQUIREMENTS OF APPLICABLE LAW. THE COMPANY AND ITS AFFILIATES DO NOT UNDERTAKE AND SHALL NOT BE REQUIRED TO TAKE ANY
ACTION IN ORDER TO QUALIFY THE AWARD WITH THE REQUIREMENT OF ANY PARTICULAR TAX TREATMENT AND NO INDICATION IN ANY DOCUMENT
TO THE EFFECT THAT ANY AWARD IS INTENDED TO QUALIFY FOR ANY TAX TREATMENT SHALL IMPLY SUCH AN UNDERTAKING. NO ASSURANCE IS
MADE BY THE COMPANY OR ANY OF ITS AFFILIATES THAT ANY PARTICULAR TAX TREATMENT ON THE DATE OF GRANT WILL CONTINUE TO EXIST OR
THAT THE AWARD WOULD QUALIFY AT THE TIME OF EXERCISE OR DISPOSITION THEREOF WITH ANY PARTICULAR TAX TREATMENT. THE COMPANY
AND ITS AFFILIATES SHALL NOT HAVE ANY LIABILITY OR OBLIGATION OF ANY NATURE IN THE EVENT THAT AN AWARD DOES NOT QUALIFY FOR
ANY PARTICULAR TAX TREATMENT, REGARDLESS WHETHER THE COMPANY COULD HAVE OR SHOULD HAVE TAKEN ANY ACTION TO CAUSE SUCH
QUALIFICATION TO BE MET AND SUCH QUALIFICATION REMAINS AT ALL TIMES AND UNDER ALL CIRCUMSTANCES AT THE RISK OF THE GRANTEE.
THE COMPANY DOES NOT UNDERTAKE OR ASSUME ANY LIABILITY TO CONTEST A DETERMINATION OR INTERPRETATION (WHETHER WRITTEN OR
UNWRITTEN) OF ANY TAX AUTHORITIES, INCLUDING IN RESPECT OF THE QUALIFICATION UNDER ANY PARTICULAR TAX REGIME OR RULES
APPLYING TO PARTICULAR TAX TREATMENT. IF THE AWARDS DO NOT QUALIFY UNDER ANY PARTICULAR TAX TREATMENT IT COULD RESULT IN
ADVERSE TAX CONSEQUENCES TO THE GRANTEE.

 

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18.5.
The Company or any Subsidiary or Affiliate may take such action as it may deem necessary or appropriate, in its discretion,
for the purpose of or in connection with withholding of any taxes and compulsory payments which the Trustee, the Company or
any Subsidiary or Affiliate is required by any Applicable Law to withhold in connection with any Awards (collectively,
“Withholding Obligations”). Such actions may include (i) requiring a Grantees to remit to the Company in
cash an amount sufficient to satisfy such Withholding Obligations and any other taxes and compulsory payments, payable by the
Company in connection with the Award or the exercise or (if applicable) the vesting thereof; (ii) subject to Applicable Law,
allowing the Grantees to provide Shares to the Company, in an amount that at such time, reflects a value that the Committee
determines to be sufficient to satisfy such Withholding Obligations; (iii) withholding Shares otherwise issuable upon the
exercise of an Award at a value which is determined by the Committee to be sufficient to satisfy such Withholding
Obligations; or (iv) any combination of the foregoing. The Company shall not be obligated to allow the exercise of any Award
by or on behalf of a Grantee until all tax consequences arising from the exercise of such Award are resolved in a manner
acceptable to the Company.

 

18.6.
Each Grantee shall notify the Company in writing promptly and in any event within ten (10) days after the date on which such
Grantee first obtains knowledge of any tax bureau inquiry, audit, assertion, determination, investigation, or question
relating in any manner to the Awards granted or received hereunder or Shares issued thereunder and shall continuously inform
the Company of any developments, proceedings, discussions and negotiations relating to such matter, and shall allow the
Company and its representatives to participate in any proceedings and discussions concerning such matters. Upon request, a
Grantee shall provide to the Company any information or document relating to any matter described in the preceding sentence,
which the Company, in its discretion, requires.

 

18.7.
With respect to 102 Non-Trustee Options, if the Grantee ceases to be employed by the Company or any Affiliate, the Grantee shall
extend to the Company and/or its Affiliate with whom the Grantee is employed a security or guarantee for the payment of taxes
due at the time of sale of Shares, all in accordance with the provisions of Section 102 of the Ordinance and the Rules.

 

18.8.
For the purpose hereof “tax(es)” means (a) all federal, state, local or foreign taxes, charges, fees, imposts,
levies or other assessments, including all income, capital gains, transfer, withholding, payroll, employment, social
security, national security, health tax, wealth surtax, stamp, registration and estimated taxes, customs duties, fees,
assessments and charges of any similar kind whatsoever (including under Section 280G of the Code), (b) all interest,
indexation differentials, penalties, fines, additions to tax or additional amounts imposed by any taxing authority in
connection with any item described in clause (a), (c) any transferee or successor liability in respect of any items described
in clauses (a) or (b) payable by reason of contract, assumption, transferee liability, successor liability, operation of
Applicable Law, or as a result of any express or implied obligation to assume Taxes or to indemnify any other person, and (d)
any liability for the payment of any amounts of the type described in clause (a) or (b) payable as a result of being a member
of an affiliated, consolidated, combined, unitary or aggregate group for any taxable period, including under U.S. Treasury
Regulations Section 1.1502-6(a) (or any predecessor or successor thereof of any analogous or similar provision under Law) or
otherwise.

 

18.9.
If a Grantee makes an election under Section 83(b) of the Code to be taxed with respect to an Award as of the date of transfer
of Shares rather than as of the date or dates upon which the Grantee would otherwise be taxable under Section 83(a) of the Code,
such Grantee shall deliver a copy of such election to the Company upon or prior to the filing such election with the U.S. Internal
Revenue Service. Neither the Company nor any Affiliate shall have any liability or responsibility relating to or arising out of
the filing or not filing of any such election or any defects in its construction.

 

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		19.	RIGHTS
                                         AS A SHAREHOLDER; VOTING AND DIVIDENDS.

 

19.1.
Subject to Section 11.4, a Grantee shall have no rights as a shareholder of the Company with respect to any Shares covered by
an Award until the Grantee shall have exercised the Award, paid the Exercise Price therefor and becomes the record holder of the
subject Shares. In the case of 102 Awards or 3(9) Awards (if such Awards are being held by a Trustee), the Trustee shall have
no rights as a shareholder of the Company with respect to the Shares covered by such Award until the Trustee becomes the record
holder for such Shares for the Grantee’s benefit, and the Grantee shall not be deemed to be a shareholder and shall have
no rights as a shareholder of the Company with respect to the Shares covered by the Award until the date of the release of such
Shares from the Trustee to the Grantee and the transfer of record ownership of such Shares to the Grantee (provided however that
the Grantee shall be entitled to receive from the Trustee any cash dividend or distribution made on account of the Shares held
by the Trustee for such Grantee’s benefit, subject to any tax withholding and compulsory payment). No adjustment shall be
made for dividends (ordinary or extraordinary, whether in cash, securities or other property) or distribution of other rights
for which the record date is prior to the date on which the Grantee or Trustee (as applicable) becomes the record holder of the
Shares covered by an Award, except as provided in Section 14 hereof.

 

19.2.
With respect to all Awards issued in the form of Shares hereunder or upon the exercise or (if applicable) the vesting of Awards
hereunder, any and all voting rights attached to such Shares shall be subject to Section 6.9, and the Grantee shall be entitled
to receive dividends distributed with respect to such Shares, subject to the provisions of the Company’s Articles of Association,
as amended from time to time, and subject to any Applicable Law.

 

19.3.
The Company may, but shall not be obligated to, register or qualify the sale of Shares under any applicable securities law or
any other Applicable Law.

 

		20.	NO
                                         REPRESENTATION BY COMPANY.

 

By
granting the Awards, the Company is not, and shall not be deemed as, making any representation or warranties to the Grantee regarding
the Company, its business affairs, its prospects or the future value of its Shares. The Company shall not be required to provide
to any Grantee any information, documents or material in connection with the Grantee’s considering an exercise of an Award.
To the extent that any information, documents or materials are provided, the Company shall have no liability with respect thereto.
Any decision by a Grantee to exercise an Award shall solely be at the risk of the Grantee.

 

		21.	NO
                                         RETENTION RIGHTS.

 

Nothing
in this Plan, any Award Agreement or in any Award granted or agreement entered into pursuant hereto shall confer upon any
Grantee the right to continue in the employ of, or be in the service of the Company or any Subsidiary or Affiliate thereof as
a Service Provider or to be entitled to any remuneration or benefits not set forth in this Plan or such agreement, or to
interfere with or limit in any way the right of the Company or any such Subsidiary or Affiliate to terminate such
Grantee’s employment or service (including, any right of the Company or any of its Affiliates to immediately cease the
Grantee’s employment or service or to shorten all or part of the notice period, regardless of whether notice of
termination was given by the Company or its Affiliates or by the Grantee). Awards granted under this Plan shall not be
affected by any change in duties or position of a Grantee, subject to Sections 6.6 through 6.8. No Grantee shall be entitled
to claim and the Grantee hereby waives any claim against the Company or any Subsidiary or Affiliate that he or she was
prevented from continuing to vest Awards as of the date of termination of his or her employment with, or services to, the
Company or any Subsidiary or Affiliate. No Grantee shall be entitled to any compensation in respect of the Awards which would
have vested had such Grantee’s employment or engagement with the Company (or any Subsidiary or Affiliate) not been
terminated.

 

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		22.	PERIOD
                                         DURING WHICH AWARDS MAY BE GRANTED.

 

Awards
may be granted pursuant to this Plan from time to time within a period of ten (10) years from the Effective Date, which period
may be extended from time to time by the Board. From and after such date (as extended) no grants of Awards may be made and this
Plan shall continue to be in full force and effect with respect to Awards or Shares issued thereunder that remain outstanding.

 

		23.	AMENDMENT
                                         OF THIS PLAN AND AWARDS.

 

23.1.
The Board at any time and from time to time may suspend, terminate, modify or amend this Plan, whether retroactively or prospectively.
Any amendment effected in accordance with this Section shall be binding upon all Grantees and all Awards, whether granted prior
to or after the date of such amendment, and without the need to obtain the consent of any Grantee. No termination or amendment
of this Plan shall affect any then outstanding Award unless expressly provided by the Board.

 

23.2.
Subject to changes in Applicable Law that would permit otherwise, without the approval of the Company’s shareholders, there
shall be (i) no increase in the maximum aggregate number of Shares that may be issued under this Plan as Incentive Stock Options
(except by operation of the provisions of Section 14.1), (ii) no change in the class of persons eligible to receive Incentive
Stock Options, and (iii) no other amendment of this Plan that would require approval of the Company’s shareholders under
any Applicable Law. Unless not permitted by Applicable Law, if the grant of an Award is subject to approval by shareholders, the
date of grant of the Award shall be determined as if the Award had not been subject to such approval. Failure to obtain approval
by the shareholders shall not in any way derogate from the valid and binding effect of any grant of an Award, which is not an
Incentive Stock Option. Upon approval of an amendment to this Plan by the shareholders of the Company as set forth above, all
Incentive Stock Options granted under this Plan on or after such amendment shall be fully effective as if the shareholders of
the Company had approved the amendment on the same date.

 

23.3.
The Board or the Committee at any time and from time to time may modify or amend any Award theretofore granted, including any
Award Agreement, whether retroactively or prospectively.

 

		24.	APPROVAL.

 

 24.1. This Plan shall take effect upon its adoption by the Board (the “Effective Date”).

 

24.2.
Solely with respect to grants of Incentive Stock Options, this Plan shall also be subject to shareholders’ approval,
within one year of the Effective Date, by a majority of the votes cast on the proposal at a meeting or a written consent of
shareholders (however, if the grant of an Award is subject to approval by shareholders, the date of grant of the Award shall
be determined as if the Award had not been subject to such approval). Failure to obtain such approval by the shareholders
within such period shall not in any way derogate from the valid and binding effect of any grant of an Award, except that any
Options previously granted under this Plan may not qualify as Incentive Stock Options but, rather, shall constitute
Nonqualified Stock Options. Upon approval of this Plan by the shareholders of the Company as set forth above, all Incentive
Stock Options granted under this Plan on or after the Effective Date shall be fully effective as if the shareholders of the
Company had approved this Plan on the Effective Date.

 

24.3.
102 Awards are conditional upon the filing with or approval by the ITA, if required, as set forth in Section 9.49. Failure to
so file or obtain such approval shall not in any way derogate from the valid and binding effect of any grant of an Award, which
is not an 102 Award.

 

    - 31 -

     

    

 

		25.	RULES
                                         PARTICULAR TO SPECIFIC COUNTRIES; SECTION 409A.

 

25.1.
Notwithstanding anything herein to the contrary, the terms and conditions of this Plan may be supplemented or amended with respect
to a particular country or tax regime by means of an appendix to this Plan, and to the extent that the terms and conditions set
forth in any appendix conflict with any provisions of this Plan, the provisions of such appendix shall govern. Terms and conditions
set forth in such appendix shall apply only to Awards granted to Grantees under the jurisdiction of the specific country or such
other tax regime that is the subject of such appendix and shall not apply to Awards issued to a Grantee not under the jurisdiction
of such country or such other tax regime. The adoption of any such appendix shall be subject to the approval of the Board or the
Committee, and if determined by the Committee to be required in connection with the application of certain tax treatment, pursuant
to applicable stock exchange rules or regulations or otherwise, then also the approval of the shareholders of the Company at the
required majority.

 

25.2.
This Section 25.2 shall only apply to Awards granted to Grantees who are subject to United States Federal income tax.

 

25.2.1
It is the intention of the Company that no Award shall be deferred compensation subject to Code Section 409A unless and to
the extent that the Committee specifically determines otherwise as provided in Section 25.2.2, and the Plan and the terms and
conditions of all Awards shall be interpreted and administered accordingly.

 

25.2.2
The terms and conditions governing any Awards that the Committee determines will be subject to Section 409A of the Code,
including any rules for payment or elective or mandatory deferral of the payment or delivery of Shares or cash pursuant
thereto, and any rules regarding treatment of such Awards in the event of a Change in Control, shall be set forth in the
applicable Award Agreement and shall be intended to comply in all respects with Section 409A of the Code, and the Plan and
the terms and conditions of such Awards shall be interpreted and administered accordingly.

 

25.2.3
The Company shall have complete discretion to interpret and construe the Plan and any Award Agreement in any manner that
establishes an exemption from (or compliance with) the requirements of Code Section 409A. If for any reason, such as
imprecision in drafting, any provision of the Plan and/or any Award Agreement does not accurately reflect its intended
establishment of an exemption from (or compliance with) Code Section 409A, as demonstrated by consistent interpretations or
other evidence of intent, such provision shall be considered ambiguous as to its exemption from (or compliance with) Code
Section 409A and shall be interpreted by the Company in a manner consistent with such intent, as determined in the discretion
of the Company. If, notwithstanding the foregoing provisions of this Section 25.2.3, any provision of the Plan or any such
agreement would cause a Grantee to incur any additional tax or interest under Code Section 409A, the Company shall reform
such provision in a manner intended to avoid the incurrence by such Grantee of any such additional tax or interest; provided
that the Company shall maintain, to the extent reasonably practicable, the original intent and economic benefit to the
Grantee of the applicable provision without violating the provisions of Code Section 409A.

 

    - 32 -

     

    

 

25.2.4 Notwithstanding any other provision in the Plan, any Award Agreement, or any other written document establishing the terms
and conditions of an Award, if any Grantee is a “specified employee,” within the meaning of Section 409A of the
Code, as of the date of his or her “separation from service” (as defined under Section 409A of the Code), then,
to the extent required by Treasury Regulation Section 1.409A-3(i)(2) (or any successor provision), any payment made to such
Grantee on account of his or her separation from service shall not be made before a date that is six months after the date of
his or her separation from service. The Committee may elect any of the methods of applying this rule that are permitted under
Treasury Regulation Section 1.409A-3(i)(2)(ii) (or any successor provision).

 

25.2.5
Notwithstanding any other provision of this Section 25.2 to the contrary, although the Company intends to administer the Plan
so that Awards will be exempt from, or will comply with, the requirements of Code Section 409A, the Company does not warrant that
any Award under the Plan will qualify for favorable tax treatment under Code Section 409A or any other provision of federal, state,
local, or non-United States law. The Company shall not be liable to any Grantee for any tax, interest, or penalties the Grantee
might owe as a result of the grant, holding, vesting, exercise, or payment of any Award under the Plan.

 

		26.	GOVERNING
                                         LAW; JURISDICTION.

 

This
Plan and all determinations made and actions taken pursuant hereto shall be governed by the laws of the State of Israel, except
with respect to matters that are subject to tax laws, regulations and rules of any specific jurisdiction, which shall be governed
by the respective laws, regulations and rules of such jurisdiction. Certain definitions, which refer to laws other than the laws
of such jurisdiction, shall be construed in accordance with such other laws. The competent courts located in Tel-Aviv-Jaffa, Israel
shall have exclusive jurisdiction over any dispute arising out of or in connection with this Plan and any Award granted hereunder.
By signing any Award Agreement or any other agreement relating to an Award, each Grantee irrevocably submits to such exclusive
jurisdiction.

 

		27.	NON-EXCLUSIVITY
                                         OF THIS PLAN.

 

The
adoption of this Plan shall not be construed as creating any limitations on the power or authority of the Company to adopt such
other or additional incentive or other compensation arrangements of whatever nature as the Company may deem necessary or desirable
or preclude or limit the continuation of any other plan, practice or arrangement for the payment of compensation or fringe benefits
to employees generally, or to any class or group of employees, which the Company or any Affiliate now has lawfully put into effect,
including any retirement, pension, savings and stock purchase plan, insurance, death and disability benefits and executive short-term
or long-term incentive plans.

 

Notwithstanding
the aforesaid, and for the avoidance of doubt, as of the Effective Date, any previous stock option plan of the Company, particularly
the Company’s 2009 Israeli Stock Option Plan, shall be deemed cancelled and ineffective, no grants or awards shall be made
thereunder, and any options that may have been granted thereunder should be considered expired.

 

		28.	MISCELLANEOUS.

 

28.1.
Survival. The Grantee shall be bound by and the Shares issued upon exercise or (if applicable) the vesting of any Awards
granted hereunder shall remain subject to this Plan after the exercise or (if applicable) the vesting of Awards, in accordance
with the terms of this Plan, whether or not the Grantee is then or at any time thereafter employed or engaged by the Company or
any of its Affiliates.

 

28.2.
Additional Terms. Each Award awarded under this Plan may contain such other terms and conditions not inconsistent with
this Plan as may be determined by the Committee, in its sole discretion.

 

    - 33 -

     

    

 

28.3.
Fractional Shares. No fractional Share shall be issuable upon exercise or vesting of any Award and the number of Shares
to be issued shall be rounded down to the nearest whole Share, with in any Share remaining at the last vesting date due to such
rounding to be issued upon exercise at such last vesting date.

 

28.4.
Severability. If any provision of this Plan, any Award Agreement or any other agreement entered into in connection with
an Award shall be determined to be illegal or unenforceable by any court of law in any jurisdiction, the remaining provisions
hereof and thereof shall be severable and enforceable in accordance with their terms, and all provisions shall remain enforceable
in any other jurisdiction. In addition, if any particular provision contained in this Plan, any Award Agreement or any other agreement
entered into in connection with an Award shall for any reason be held to be excessively broad as to duration, geographic scope,
activity or subject, it shall be construed by limiting and reducing such provision as to such characteristic so that the provision
is enforceable to fullest extent compatible with Applicable Law as it shall then appear.

 

28.5.
Captions and Titles. The use of captions and titles in this Plan or any Award Agreement or any other agreement entered
into in connection with an Award is for the convenience of reference only and shall not affect the meaning or interpretation of
any provision of this Plan or such agreement.

 

 

*          *          *

 

    - 34 -Exhibit
10.11

 

 

ADVISORY
SERVICES AGREEMENT

 

This
ADVISORY SERVICES AGREEMENT (this “Agreement”), dated August 17th, 2020 (the “Effective
Date”), is between Nuvo Group Ltd., a company organized under the laws of the State of Israel, with an address at Yigal Alon
94, Alon Tower 1, Tel Aviv 6789155 Israel (the “Company” or “Nuvo”), and Stephen Klasko, M.D.,
an individual, with a mailing address at 512 South 3rd Street, Apartment D, Philadelphia, PA 19147 (the “Advisor”).

 

WHEREAS,
the Company has developed a proprietary prenatal monitoring system, comprised of (i) a wearable band, (ii) apps for both patient
and provider use, respectively, and (iii) a proprietary processing engine (collectively, the “Invu System”);

 

WHEREAS,
the Company seeks to supply and make available the Invu System to health systems, insurance companies, hospital groups and other prospective
customers that wish to deploy the Invu System within its patient/insured base (collectively, the “Business”);

 

WHEREAS,
the Advisor currently serves as the President and Chief Executive Officer of Thomas Jefferson University and Jefferson Health (the “Hospital”);

 

WHEREAS,
the Board of Directors of the Company (the “Board”) has determined that the Advisor possesses the requisite experience,
expertise and industry relationships that will aid the Company in achieving the growth and strategic objectives that have heretofore
been communicated to Advisor, and Advisor has confirmed the foregoing;

 

WHEREAS,
the Board has further determined that it is in the best interest of the Company to enter into this Agreement with the Advisor and to
compensate the Advisor for his Services (as defined below) in accordance with the provisions contained hereunder; and

 

WHEREAS,
concurrent with Advisor’s execution of this Agreement, Advisor will assume a director position on the Company’s Board, and
will execute the Company’s standard director agreement and undertaking (collectively, the “Director Agreement”)
in the form attached to Schedule 1 attached hereto.

 

NOW,
THEREFORE, in consideration of the equity Grant (as defined below) contained hereunder and other good and valuable consideration,
the receipt and sufficiency of which are hereby acknowledged by the parties hereto, the Company and the Advisor hereby agree as follows:

 

1. Duties.
During the Term (as defined below) of this Agreement, the Advisor hereby agrees to serve the Company as an advisor in the role of Special
Advisor to the Chief Executive Officer, to perform the Services and to make himself available from time to time in person or by
telephonic or electronic communication to assist the Company and its advisors in the conduct of the Business. The Advisor shall
devote sufficient time and effort to the performance of the Services. Without limiting the generality of the foregoing, the Advisor
agrees to the following:

 

a.
The Advisor will carry out the services set forth in Exhibit A attached hereto, and any other related advisory
services as reasonably requested by the Company’s chief executive officer (“CEO”) and/or the Board from
time to time during the Term (collectively, the “Services”). To render the Services in a professional manner, the
Advisor acknowledges that he will dedicate a minimum of twenty (20) hours per month (the “Hours”) to such
Services, all of which to be coordinated between the parties. In addition, promptly following the consummation of this Agreement by
the parties, the parties shall mutually establish a time entry reporting method/system which the Advisor will utilize to document
the Hours that he renders/dedicates each month to the Company, as well as a means of tracking the Advisor’s assigned
objectives, completed tasks and accomplishments on behalf of the Company.

 

     

     

    

 

b.
The Advisor shall directly report to the CEO, though the Company’s Board shall also have direct access to the
Advisor.

 

c.
Subject to the Advisor’s prior written consent (such consent not to be unreasonably withheld, delayed or conditioned), the
Company may issue a press release and/or other marketing materials that reference the engagement contemplated hereunder as well as
the Advisor’s relationship with the Company.

 

2. Compensation. In full consideration for the Services and the covenants and obligations of the Advisor set
forth herein, the Company shall grant the Advisor (the “Grant”) the equity set forth in Exhibit B
attached hereto (the “Equity”). The Grant shall be subject to certain repurchase rights and restrictions on
transfer under applicable law and as set forth in any Company incentive plans, related option or purchase agreements between the
parties and the Company’s organizational documents, as such may be amended from time to time.

 

3. Expenses.
The Company shall reimburse the Advisor for all reasonable and necessary expenses, which have been preapproved by the Company and
subsequently paid or incurred by the Advisor in connection with the performance of the Services. The Advisor acknowledges and agrees
that the Company shall not be required to reimburse the Advisor for any expenses paid or incurred by the Advisor without the prior
written consent of the Company.

 

4. Term
and Termination; Resignation. The term of this Agreement shall commence on the Effective Date and continue for four (4) years
thereafter (the “Initial Term”), and thereafter automatically renew for one-year periods (unless earlier
terminated pursuant to the terms hereof, the Initial Term and any auto-renewals, collectively, the
“Term”).

 

5. Termination;
Effect of Termination.

 

 a. This Agreement may be terminated by the Company:

 

I.
upon the Advisor’s: (i) commission of fraud, embezzlement, gross negligence, malfeasance, an act or acts constituting a felony
under the laws of the United States or any state thereof, or a willful or negligent act or omission which results in an assessment of
a civil or criminal penalty against the Advisor or the Company or its affiliates; (ii) willful or continued failure to substantially
perform the Advisor’s duties hereunder (other than any such failure resulting from the Advisor’s incapacity due to physical
or mental illness); or (iii) violation of the terms of this Agreement (the foregoing (i) through (iii), for “Cause”).
Prior to any termination for Cause excluding the basis described under (i) hereof, all reasonable efforts shall be made by the parties
to resolve their differences and identify areas of mutual improvement through a thirty (30) day corrective action plan;

 

II.
in the event the Advisor fails to carry out the Services (i.e., including, without limitation, his time obligations as set forth in Section
1(a) hereof) over the course of two (2) consecutive months or on four (4) or more monthly occasions during any twelve (12)-month period
for any reason related to Advisor’s health and well-being;

 

III.
at the end of the third (3rd) year of the Initial Term if none of the following conditions (the “3rd Year
Milestones”) have been achieved by the Company through such date: (i) a financing consummated by the Company based on a FMV
(as defined in Exhibit B hereto) of at least $350,000,000, (ii) the Company having generated annual gross revenues of at
least Twenty Million (US$20,000,000.00) dollars, or (iii) the Company having achieved a valuation of at least Three Hundred Fifty Million
(US$350,000,000.00) dollars, as determined by an independent 3rd third-party valuation firm that is mutually approved by the parties
in writing.

 

    2

     

    

 

b.
Upon termination of this Agreement pursuant to Section 5(a), for Cause or under Section 5(c), all unvested Equity shall be immediately
and automatically forfeited on the effective date of termination.

 

c.
Upon termination of this Agreement, or at such earlier date as the Company may request,
the Advisor shall deliver forthwith to the Company all such programs, files, memoranda, notes, records, reports and other documents (including
all copies thereof) of the Company which are then in the Advisor’s possession or control, together with any other property of the
Company then in the Advisor’s possession or control.

 

6.
Status of the Advisor. The Advisor’s relationship to the Company pursuant to this Agreement is that of an independent contractor,
and nothing in this Agreement will be deemed to establish any other relationship between the Advisor and the Company, such as employer-employee,
principal-agent, partners or joint ventures. The Company shall have no control over the means or manner of performance by the Advisor
of his obligations under this Agreement. Unless expressly authorized in writing by the Company, the Advisor shall not be entitled to
any compensation or other payments other than the consideration set forth in Section 2 hereunder. Both parties acknowledge that the Advisor
is not an employee of the Company for state or federal tax purposes, that the Company shall not pay or withhold taxes on behalf of the
Advisor, and the Advisor shall not be entitled to receive from the Company any salary, wages or vacation pay or other benefits, coverages
or privileges, including, without limitation, social security, unemployment, medical or pension payments, made available to employees
of the Company. The Advisor shall be responsible for any insurance coverage related to the Advisor’s performance of the services.
If, for any reason, it is determined by any federal, state or local authority that the Advisor should have been classified differently
than as the parties have agreed, the Advisor shall be solely responsible for the payment of any and all taxes, penalties, damages, fines,
interest and losses which may be levied against either the Advisor or the Company by any governmental entity. Advisor shall also be responsible
for all taxes associated with the Grant.

 

7.
Representations and Warranties. The Advisor hereby represents and warrants to the Company that: (i) none of the Services will
conflict with his covenants, restrictions, or obligations to the Hospital; (ii) other than with respect to the prohibitions under Section
8(a), he retains the right to perform services for others during the Term of this Agreement; (iii) Advisor is a resident of the United
States for tax purposes, and as such he files tax returns and pays taxes in the United States; and (iv) Advisor will render the Services
in the United States.

 

    3

     

    

 

8.
Confidentiality. The Advisor recognizes and acknowledges that Confidential Information (as defined below) is a valuable asset
of the Company to be kept confidential and secret, and therefore agrees to keep confidential and not disclose or use, except in connection
with the fulfillment of the Services for the Company under this Agreement, any Confidential Information of the Company. During and after
his engagement by Company, the Advisor shall: (i) not, directly or indirectly, disclose Confidential Information to any third party unless
such disclosure or use is consented to in writing by an officer of Company or authorized hereunder; and (ii) only use Confidential Information
within the scope of the provision of Services to the Company and, if applicable, within the bounds of consent set forth in writing by
the officer of Company. At the request of the Company, the Advisor shall promptly deliver to the Company all records, files, data, memoranda,
notes, plans, computer programs, documentation, reports and other materials (and all copies or reproductions thereof) embodying Confidential
Information, whether in hard copy or electronic form, in the possession of the Advisor. Notwithstanding the foregoing, if the Advisor
is compelled by a court or administrative order to communicate or divulge any Confidential Information, the Advisor may do so only to
the extent legally required and must promptly notify the Company of such order and cooperate fully with the Company to protect such information
under this Agreement, including giving immediate notice so the Company, at its discretion, can seek a protective order. Nothing in this
Agreement shall be construed as granting any rights under any patent, copyright or other intellectual property right of the Company,
nor shall this Agreement grant the Advisor any rights in or to the Company’s Confidential Information, except the limited right
to use the Confidential Information to the extent necessary in connection with the Services for the benefit of the Company. For purposes
of this Agreement, “Confidential Information” means (x) all information owned or possessed by the Company, including,
by way of illustration and not limitation, trade secrets, information, inventions, know-how, data, discoveries, technologies, Intellectual
Property (as defined below), customer information, supplier information, pricing, business plans, employee and contractor information
or materials not generally available to the public from sources outside of the Company, in any manner relating to the Business or other
activities of the Company, (y) all information belonging to, controlled or possessed by Company, and (z) any similar information, data
or materials of third parties that the Company or the Advisor has a duty to keep confidential. Confidential Information does not include
information that (1) was in the public domain at the time it was disclosed to Advisor; (2) entered the public domain subsequent to the
time it was disclosed to Advisor, as a result of disclosure by a third party not in breach of any agreement or duty of confidentiality
with respect to such information; or (3) was developed by the Advisor without use of or reference to any Confidential Information. Advisor
agrees that monetary damages would be inadequate to compensate the other for breach of any provision of this Section 8, that any
such breach or threatened breach will cause irreparable injury, and that, in addition to any other remedies available at law or in equity,
Company will be entitled to injunctive relief against the threatened breach or the continuation of any such breach, without the necessity
of proving actual damages.

 

 9. Assignment of Intellectual Property.

 

a.
All right, title and interest (including all Intellectual Property rights of any sort throughout the world) relating to any and all Deliverables
(as defined below) shall be the exclusive property of the Company and the Advisor hereby irrevocably assigns to the Company or its designee
any and all right, title and/or interest (including all Intellectual Property (as defined herein) rights of any sort throughout the world)
in and to any Deliverables that the Advisor has or may in the future acquire with respect to any Deliverables rendered by the Advisor
in connection with or arising from the Services described in this Agreement. To the fullest extent allowable under applicable law all
Deliverables shall constitute a “work made for hire” as such term is defined in 17 U.S.C. Section 101 (or equivalent laws
or principles elsewhere in the world), made solely for the benefit of Company. In the event that any right, title or interest to any
Deliverables, or part thereof, may not, by operation of law, vest in Company or is determined not to be a “work made for hire”
for any reason, then Contractor hereby irrevocably conveys, transfers and assigns to Company all right, title and interest, throughout
the world and without further consideration, as set forth in this Section 9. As may be requested by the Company from time to time with
respect to any Deliverables, the Advisor agrees to cooperate fully in the prosecution of any patent application relating to any such
Deliverables, at the expense of the Company, which cooperation shall include executing any necessary documents in connection therewith,
and the Advisor shall take all other steps reasonably necessary to enable the Company to obtain, perfect, sustain, and enforce its ownership
interest in any Deliverables in accordance with this Section 9 and to obtain and maintain patents, copyrights and other Intellectual
Property rights for such Deliverables throughout the world, and the Advisor shall not request nor receive any additional compensation
in connection with such cooperation. Advisor’s obligation to assist the Company shall continue beyond the termination of Advisor’s
relationship with the Company. The Advisor shall promptly disclose all Deliverables to the Company.

 

    4

     

    

 

b.
For purposes of this Agreement, the following terms shall have the following meanings:

 

i.
“Deliverables” means all work product created by Advisor, whether individually or with any other person, during the
provisioning of Services by Advisor for the benefit of the Company.

 

ii. “Intellectual
Property” means any intellectual and industrial property rights including, but not limited to, all rights in patents,
utility models, semi-conductor topography rights; copyrights, mask works, authors’ rights, registered and unregistered
trademarks, brands, domain names, trade secrets, know-how and other rights in information, drawings, logos, plans, database rights,
technical notes, prototypes, processes, methods, algorithms, any technical-related documentation, any software, registered designs
and other designs, in each case, whether registered or unregistered and including applications for registration, and all rights or
forms of protection having equivalent or similar effect anywhere in the world.

 

10.
Restrictive Covenants. Subject to matters and activities approved by the CEO in writing, the Advisor covenants and agrees that
the Advisor shall not, during the Term: (a) provide services substantially similar to the Services to any Competitor anywhere in the
world; and (b) and for six (6) months thereafter, own a majority interest in, operate, control, or serve as an executive of any Competitor;
provided, the foregoing covenant will not be deemed breached as a result of Consultant’s ownership of less than an aggregate of
five percent (5%) of any class of securities of any entity if such class of securities is listed on a national securities exchange or
is quoted on the National Market System of NASDAQ. For purposes of this Company, a “Competitor” shall refer to a corporation,
partnership, proprietorship, firm, association, or other entity that primarily engages in any business that, directly or indirectly,
develops, leases, licenses and/or commercializes prenatal monitoring devices, solutions and services in any jurisdiction or territory
anywhere in the world.

 

11.
Indemnification. During the Term and thereafter, the Advisor agrees to defend, indemnify, and hold the Company harmless to the
maximum extent permitted by law, from any and all liabilities, losses, costs, damages, penalties and any other expenses including attorney’s
fees arising directly or indirectly from the grossly negligent, reckless, malicious or fraudulent acts or omissions on the part of the
Advisor (“Bad Acts”) in providing, or otherwise relating to or arising from, the Services. The Company shall not be
liable to the Advisor or to any third party for any Bad Acts occurring during the Term.

 

12.
Notices. All notices, requests, demands or other communications with respect to this Agreement shall be in writing and addressed
to the recipient at the address set forth in the preamble hereto, or such other address as the recipient may provide from time to time.
Any notice given in connection with this Agreement shall be given in writing and shall be sent by one party to the other party in person,
by email or first class mail, certified or registered with return receipt requested, and shall be deemed to have been duly given three
(3) days after mailing, twenty-four (24) hours after transmission of a fax or email, or immediately upon delivery in person or explicit
acknowledgement of receipt.

 

13.
Governing Law. This Agreement shall be governed by and construed in accordance with the laws of the State of New Jersey without
regard for any conflict of law principles that would require the application of the laws of a jurisdiction other than the State of New
Jersey.

 

    5

     

    

 

14.  Arbitration.
Except as provided at the end of this Section, in the event that there shall be a dispute among the parties arising out of or
relating to this Agreement, or the breach thereof, the parties agree that such dispute shall be resolved by final and binding
arbitration in Newark, New Jersey, administered by the American Arbitration Association (the “AAA”), in
accordance with AAA’s Commercial Arbitration Rules. If the Executive, on the one hand, and the Company, on the other hand, do
not agree on the arbitrator within fifteen (15) days after a party requests arbitration, the arbitrator shall be selected by the
Company and the Executive from a list of three (3) potential arbitrators provided by AAA. Such list shall be provided within ten
(10) days of the request of any party for arbitration. Hearings in the arbitration proceedings shall commence within twenty (20)
days of the selection of the arbitrator or as soon thereafter as the arbitrator is available. The arbitrator shall deliver his or
his opinion within twenty (20) days after the completion of the arbitration hearings. The arbitrator’s decision shall be final
and binding upon the parties, and may be entered and enforced in any court of competent jurisdiction by either of the parties. The
arbitrator shall have the power to grant temporary, preliminary and permanent relief, including without limitation, injunctive
relief and specific performance. Unless otherwise ordered by the arbitrator pursuant to this Agreement, the arbitrator’s fees
and expenses shall be shared equally by the parties. The parties irrevocably agree that all actions to enforce an arbitrator’s
decision pursuant to this Section shall be instituted and litigated only in federal, state or local courts sitting in Newark, New
Jersey and each of such parties hereby consents to the exclusive jurisdiction and venue of such court and waives any objection based
on forum non conveniens.

 

15.
Assignment. No party hereto may assign this Agreement without the prior written consent of the other party except that the Company
may assign this Agreement by conversion into another type of business organization, or to any other successor (whether direct or indirect,
by purchase, merger, consolidation or otherwise) of all or substantially all of the Business and/or assets. This Agreement shall inure
to the benefit of and be enforceable by successors.

 

16.
Miscellaneous. The parties hereto agree that this Agreement shall be modified only by a written agreement signed by the parties
hereto. No waiver of any of the provisions of this Agreement shall be valid unless the same is in writing and signed by the party against
whom it is sought to be enforced. Any waiver of any breach of this Agreement shall not constitute a continuing waiver or consent to any
subsequent breach on the part of either party. The provisions of this Agreement shall be severable, and if any provision of this Agreement
is held to be invalid or unenforceable, it shall be construed to have the broadest interpretation that would render it valid and enforceable.
The parties hereto acknowledge and agree that this Agreement is the complete and exclusive statement of the mutual understanding of the
parties and supersedes any and all prior understandings between them, written or oral, with respect to such subject matter, including
any agreements between the Advisor and the Company. This Agreement may be executed in multiple counterparts, each of which shall be deemed
an original and all of which together shall constitute one and the same instrument. A facsimile or other electronic transmission of this
signed Agreement shall be legal and binding on all parties hereto. The headings and other captions in this Agreement are for convenience
and reference only and shall not be used in interpreting, construing or enforcing any of the provisions of this Agreement.

 

 

[Signatures
on Next Page]

 

    6

     

    

 

IN
WITNESS WHEREOF, each party to this Agreement has either caused this Agreement to be executed on its behalf by a duly authorized
representative, or signed this Agreement, as of the Effective Date set forth above.

 

	NUVO
GROUP LTD.	 	ADVISOR
	 	 	 	 	 
	By:	/s/ Oren Oz	 	By:	/s/ Stephen
Klasko
	Name:	Oren
Oz	 	Name:	Stephen
Klasko, M.D.
	Title:	Chief
Executive Officer	 	 	 

 

    7

     

    

 

EXHIBIT
A

SCOPE OF SERVICES

 

		●	Collaborate
                                            with Company-driven marketing initiatives (e.g., collaborate on workshops, deliver presentations,
                                            assist with branding/marketing materials, etc.).

 

		●	Undertake
                                            strategic investor / commercial partner introductions.

 

		●	Assist
                                            with Company’s financing activities (i.e., meeting with investors, assisting with due
                                            diligence, support investment negotiations, etc.).

 

		●	Engage
                                            in and assist with investor relations.

 

		●	Accompany
                                            CEO, Directors and other Company executives tostrategic networking meetings/conferences.

 

		●	Assist
                                            senior management with internal growth strategy, particularly for the U.S. market.

 

		●	Participate
                                            in recruitment (Management, board of advisors, etc.)

 

		●	Participate
                                            in:

 

		○	monthly
                                            CEO-led strategy meetings

 

		○	quarterly
                                            full-day sessions

 

		○	one
(1) annual 2-day offsite meeting

 

     

     

    

 

EXHIBIT
B – EQUITY CONSIDERATION

 

Advisor
shall receive equity resulting from increases in the Company’s Fair Market Value (“FMV”) during the Term, based
on the following vesting schedule:

 

		(i)	Up
to $2,250,000.00 of NUVO equity which shall vest as follows: $750,000 of NUVO equity for every $100 million increase in NUVO’s
FMV up to $500 million (assuming a baseline value on the contract start date of $200 million);

 

		(ii)	$750,000
                                            of NUVO equity for each $100 million increase of NUVO’s FMV between $500 million and
                                            $1 billion;

 

		(iii)	$500,000
                                            of NUVO equity for each $100 million increase of NUVO’s FMV between $1 billion and
                                            $2 billion; and

 

		(iv)	$250,000
                                            of NUVO equity for each $100 million increase of NUVO’s FMV of over $2 billion.

 

Notes:

 

		A.	Fair
                                            Market Value or FMV shall be determined based on the price per share that an independent
                                            third party pays to NUVO for the subscription / purchase of ordinary shares of NUVO upon
                                            the occurrence of a Valuation Event (as defined below). For purposes of this Exhibit, an
                                            independent third party refers to a party that (i) owns less than ten (10%) percent of Nuvo’s
                                            ordinary shares on a fully diluted basis, and/or (ii) is not represented by a director serving
                                            on the Nuvo board of directors (the “Board”).

 

		B.	A
                                            FMV calculation shall be deemed valid for purposes of this Exhibit if, in the case of an
                                            equity financing (aside from an initial public offering), for a period of six (6) months
                                            following such equity financing transaction (the “FMV Review Period”),
                                            the FMV of NUVO either remains unchanged or is higher (i.e., under a subsequent equity financing
                                            transaction concluded by NUVO). If, however, the FMV established for computing Advisor’s
                                            remuneration, should decrease during the applicable FMV Review Period, the Advisor’s
                                            equity shall be proportionately reduced pro rata based on the FMV decrease (or, if applicable,
                                            be revoked in its entirety if the lower FMV shall fall below the first benchmark provided
                                            above).

 

		C.	The
                                            exercise/strike price for the options granted to the Advisor throughout the term based on
                                            the formula set forth in this Exhibit B shall equal $10.75/share.

 

		D.	As
                                            soon as practicable following the Effective Date of this Agreement, the Company will pursue
                                            the Board’s approval of an express cashless exercise right within the Company’s
                                            2015 Share Incentive Plan based on a customary cashless exercise methodology elected by the
                                            Board.

 

		E.	The
                                            equity granted to the Advisor under this Agreement shall be reduced by the remuneration (excluding
                                            reimbursement for expenses) provided to Advisor under the Director Agreement on a dollar-for-dollar
                                            basis. By way of illustration, if by the time the first equity award under this Exhibit is
                                            granted to Advisor, Advisor has already received remuneration under his Board Agreement that
                                            equals, between both the cash payments and equity granted thereunder (and valued based upon
                                            a FMV at the time of grant), the sum of USD$50,000, such sum shall be subtracted from the
                                            applicable NUVO equity that NUVO will grant to Advisor.

 

		F.	Unless
                                            agreed otherwise by the parties in writing, the events giving rise to a calculation of the
                                            FMV for purposes of calculating grants to Advisor shall only consist of (each, a “Valuation
                                            Event”): (i) equity financings in which NUVO’s equity is purchased by independent
                                            third party investors; (ii) initial public offering (excluding a reverse merger, cold listing
                                            or the like); or (iii) sale of the Company. For purposes of calculating the equity granted
                                            to the Advisor, the parties will use the price per share in the applicable Valuation Event
                                            triggering the respective portion of the Grant.

 

     

     

    

 

SCHEDULE
1

 

-BOARD
AGREEMENT-

 

     

     

    

 

 

BOARD
AGREEMENT

 

August
17th, 2020

 

Dr.
Stephen Klasko, M.D.

512 South 3rd Street

Apartment D

Philadelphia, PA 19147

 

		Re:	Appointment
                                            to the Board of Directors of Nuvo Group Ltd.

 

Dear
Stephen,

 

On
behalf of Nuvo Group Ltd. (the “Company”), I am pleased to extend an offer for your appointment to the Company’s
Board of Directors (the “Board”). This letter agreement (this “Agreement”) sets forth the terms
and conditions of your appointment as a member of the Board (“Board Member”), which in all cases shall also be subject
to the terms and conditions of the Articles of Association of Company (as the same shall be amended or replaced from time to time, the
“Articles”).

 

		1.	Appointment

 

1.1
Upon the date of your acceptance of this Agreement (the “Effective Date”), and subject to the approvals required under
the Articles, you will be appointed as a Board Member, specifically as an Independent Director (as defined in the Articles). This appointment
is due to your knowledge, experience and business relationships that are relevant to Company and its business (the “Business”).
In your service as a Board Member, you shall endeavor to contribute to the furtherance of the Business on the basis of your knowledge,
experience and business relationships.

 

1.2
You shall be expected to participate in meetings of the Board, as such may be called from time to time, in accordance with the Articles,
and Company shall also consult with you from time to time, at reasonable and/or mutually agreeable times. As a basic part of this Agreement,
you shall be expected to participate in at least one (1) Board subcommittee. In addition, you hereby agree that Company may publicly
mention your services as a Board Member, including without limitation on Company’s website and other publicity and professional
materials, without obtaining your prior approval, and for no consideration beyond that set forth in Section 2.

 

1.3
You hereby represent and warrant that (a) neither your appointment as a Board Member, nor the provision of advice by you to Company pursuant
hereto or compliance by you with the terms and provisions hereof, will conflict with, or result in a breach or violation of any (i) applicable
laws; and (ii) of the terms, conditions or provisions of any agreement, contract or commitment to which you are a party or to which you
are subject, including, without limitation, any employment or consulting agreement; and (b) you are not bound by any arrangement that
would impose a limitation, restriction or prohibition on your service as a Board Member, and that no third party’s consent, if
any, is required to be obtained for that purpose.

 

1.4
The term of your service as a Board Member shall begin on the Effective Date until terminated pursuant to this Section 1.4 or the Articles
(the “Term”). You may resign from the Board, and your service on the Board may be terminated, immediately upon written
notice by either party hereto.

 

     

     

    

 

1.5
You agree, that as a condition to your engagement by Company, you shall execute and enter into the Undertaking attached hereto as Exhibit
A (the “Undertaking”).

 

		2.	Compensation

 

2.1
In consideration for your service (i) as a Board Member and (ii) related to your participation on any subcommittee(s) of the Board in
excess of the required one (1) minimum subcommittee, Company shall grant you the option to purchase 33,014 Shares (the “Grant”).
In all cases, the Grant shall be subject to (i) Board approval (in a vote in which you shall not participate) and the shareholders of
Company (the “Shareholders”); (ii) the terms and conditions of Company’s 2015 Share Incentive Plan (as may be
amended or replaced from time to time, the “Plan”); (iii) an option agreement approved and adopted by Company (the
“Option Agreement”); and (iv) any ancillary documents (including Irrevocable Proxy(s)) to be executed by you, at Company’s
request. By executing and entering into this Agreement, you agree to take all actions and execute all documents required by Company to
give effect to and enforce the Grant, including without limitation any proxy forms. For purposes of this Agreement, “Share(s)”
means ordinary shares of Company, subject to any dilution.

 

2.2
The Grant shall vest over the course of four (4) years of continuous service on the Board from the date the Board approves the Grant
(the “Grant Date”), as follows: twenty-five percent (25%) of the Grant shall vest and become exercisable on the
first (1st) anniversary of the Grant Date, and the remainder of the Grant shall vest and become exercisable in equal
6.25% parts every three (3) months of continued services thereafter; provided, that at each such vesting point, (i) you still
serve on the Board; and (ii) the Grant shall be exercisable only upon the payment of an exercise price (x) equal to $10.75/share,
with respect to the Grant; and (y) with respect to any additional grant, which shall reflect the current fair market valuation of
Company as of the Grant Date. Notwithstanding the foregoing, in the event of an Exit Event, upon which your appointment to the Board
shall be automatically terminated, the vesting of any unvested Options which would have vested during the subsequent two (2), three
(3)-month periods, shall accelerate to be exercisable upon the closing of such Exit Event. For purposes of this Agreement,
“Exit Event” means a: (i) sale of all or substantially all of Company’s assets or Company’s issued
and outstanding share capital; or (ii) a merger of Company in which the Shareholders immediately prior thereto do not hold a
majority of the share capital of the surviving entity; provided, however, that a bona fide equity financing of Company
shall not constitute an Exit Event.

 

2.3
In any event in which you cease to serve on the Board for any reason, all unvested Shares under the Grant shall expire and the Shares
then vested shall be exercisable in accordance with the terms of this Agreement, the Plan and your Option Agreement(s). Any tax liability
relating to the Grant, including, without limitation, the grant, exercise or sale of shares issued upon exercise thereof, shall be borne
solely by you. Company shall be entitled to withhold from any consideration or payments made hereunder any amounts, as may be required
from time to time under applicable law.

 

2.4
The Company reserves the right to modify the compensation granted to you pursuant to this Section 2 in the event the Company adopts a
new compensation structure applicable to all, and not less than all, of the directors on the Company’s Board at such time. Such
modifications will only affect the compensation to which you are entitled following such change (including, without limitation, unvested
shares), but not the compensation theretofore provided to you (e.g., cash payments and vested Shares) by the Company.

 

    2

     

    

 

		3.	No
                                            Conflict of Interest

 

3.1
By entering into this Agreement, you acknowledge that in light of your position with Company and in view of your exposure to, and
involvement in, Company’s sensitive and valuable proprietary information, property (including, intellectual property) and
technologies, as well as its goodwill and business plans (the “Company’s Assets”), the provisions of this Section
3 are reasonable and necessary to legitimately protect the Company’s Assets, and are being undertaken by you as a
condition to your engagement by Company. You confirm that you have carefully reviewed the provisions of this Section 3, fully
understand the consequences thereof and have assessed the respective advantages and disadvantages to you of accepting this offer
and, specifically, this Section 3. In light of the foregoing, you represent and agree that:

 

3.2
Your services to Company do not create a potential or actual conflict of interest with Company. In the course of and during your service
as a Board Member and in performing the related services, you shall use your best effort to refrain from circumstances and actions that
could cause you to have a potential or actual conflict of interest with other engagements (whether by employment, consultancy, research
or any other contract, covenant or instrument of that nature) (the “Other Services”). In the course of and during
your service as a Board Member and in performing the related services, you shall promptly disclose to Company any potential conflict
of interests, which you may be facing in connection with your Other Services and/or as a result thereof, relating to the Business and/or
technology, and of any Other Services entered into following the Effective Date which are reasonably likely to involve or require the
use of any of the Company’s Assets, prior to such engagement.

 

		4.	General

 

It
is understood that you shall provide the services set forth herein to Company and serve as a Board Member as an independent contractor.
Nothing in this Agreement shall be construed as creating an employment relationship between you and Company. This Agreement sets forth
the terms of our offer to you and supersedes any prior representations or agreements, whether written or oral. This Agreement may not
be modified or amended except by mutual written agreement of Company and you. This Agreement shall be governed by and construed in accordance
with the laws of the State of Israel. Any dispute arising under or in relation to this offer shall be resolved exclusively by the competent
courts located in Tel-Aviv-Jaffa, Israel. If any provision of this Agreement is determined by any court of competent jurisdiction to
be invalid, illegal or unenforceable in any respect, such provision will be enforced to the maximum extent possible given the intent
of the parties hereto. You may not assign this Agreement or your rights or obligations herein, without the prior written consent of Company.
Subject to the foregoing limitations, this Agreement shall be binding upon and to the benefit of each party’s successors and assigns.
This Agreement may be executed in several counterparts (including by facsimile), all of which shall constitute one and the same instrument.

 

 

NEXT
PAGE IS SIGNATURE PAGE

 

    3

     

    

 

We
are honored and excited at the possibility of working together with you and we hope that you will find this offer acceptable and that
you will join the Board.

 

		Sincerely,
	 	 
	 	NUVO
                                            GROUP LTD.
	 	 	 
	 	By:	/s/ Oren
                                                                                                                                                                                                                      Oz
	 	 	Oren
                                            Oz, CEO

 

	ACKNOWLEDGED,
ACCEPTED AND AGREED

AS OF THE DATE SET FORTH ABOVE:	 
	 	 	 
	By:	/s/ Stephen
Klakso	 
	Name:	Stephen
Klakso, M.D.	 

 

    4

     

    

 

 

BOARD
UNDERTAKING

 

This
BOARD OF DIRECTORS UNDERTAKING (this “Undertaking”) is entered into as of August 17th, 2020 (the
“Effective Date”), by Stephen Klasko, M.D., an individual with a mailing address of 512 South 3rd Street, Apartment
D, Philadelphia, PA 19147 (“Consultant”).

 

WHEREAS,
Consultant and Nuvo Group Ltd., a company formed under the laws of the State of Israel with a mailing address of 94 Yigal Alon St., Alon
Tower I, 26th Floor, Tel Aviv, Israel 6789155 (together any of its direct or indirect parent, subsidiary and affiliated companies,
and their respective successors and assigns, “Company”) and Company entered into that certain binding Letter Agreement,
dated as of the Effective Date (the “Agreement”), pursuant to which Company engaged Consultant to serve as a member
of Company’s Board of Directors. Any capitalized but undefined terms used herein shall have the meaning set forth in the Agreement;
and

 

WHEREAS,
it is critical for Company to preserve and protect its Confidential Information (as defined below), its rights in Inventions (as defined
below) and in all related intellectual property rights, and Consultant, wishing to serve as a Board Member and pursuant to the terms
of the Agreement, must execute and undertake the obligations of this Undertaking.

 

NOW,
THEREFORE, Consultant hereby, undertakes, represents and warrants towards Company as follows:

 

 1. Confidentiality.

 

1.1.
As a Board Member, Consultant may access or be provided with Company’s Confidential Information. Consultant hereby acknowledges
and agrees that Consultant’s engagement by Company and such access to Confidential Information creates a fiduciary relationship
of confidence and trust between Company and Consultant which includes among other things, the Confidential Information. The Confidential
Information and all rights, title and interest therein, shall be exclusive and sole property of Company. For the purposes of this Undertaking,
“Confidential Information” shall mean (x) any and all information owned or possessed by Company, including, by way
of illustration and not limitation, trade secrets, information, inventions, know-how, data, discoveries, technologies, Intellectual Property,
customer information, supplier information, pricing, business plans, employee and contractor information or materials not generally available
to the public from sources outside of the Company, in any manner relating to the Business or other activities of the Company, (y) all
information belonging to, controlled or possessed by Company, and (z) any similar information, data or materials of other third parties
which Company or Consultant has a duty, from time to time, to hold in confidence. For purposes of this Undertaking, “Intellectual
Property” means any intellectual and industrial property rights including, but not limited to, all rights in patents, utility models,
semi- conductor topography rights; copyrights, moral rights, mask works, authors’ rights, registered and unregistered trademarks,
brands, domain names, trade secrets, know-how and other rights in information, drawings, logos, plans, database rights, technical notes,
prototypes, processes, methods, algorithms, any technical-related documentation, any software, registered designs and other designs,
in each case, whether registered or unregistered and including applications for registration, and all rights or forms of protection having
equivalent or similar effect anywhere in the world.

 

1.2.
During the Term and thereafter, Consultant agrees (i) not to, without the prior written consent of Company, directly or indirectly disclose
to any third party the Confidential Information; (ii) to use the Confidential Information solely for the fulfillment of Consultant’s
duties as a Board Member; and (iii) upon Company’s written request, to promptly destroy or return any and all copies on any media
containing Confidential Information in Consultant’s possession.

 

     

     

    

 

1.3.
The prohibitions of Section 1.2 shall not apply to information that: (i) is in the public knowledge or has become public knowledge,
(ii) was documented as being in Consultant’s possession prior to the Effective Date, or (iii) was independently developed by Consultant
without use of the Confidential Information.

 

1.4.
Consultant agrees that, during the Term and thereafter, Consultant will not induce or cause any other person or entity to, make negative
statements or communications disparaging Company or its officers, directors, managers, shareholders, members, agents, business, practices
or products, and Consultant understands that any such statements or communications of this nature shall be considered a violation of
this Undertaking. Making truthful statements in response to legal process, required governmental testimony or filings, or administrative
or arbitral proceedings (including, without limitation, depositions in connection with such proceedings) will not violate this obligation.

 

1.5.
Consultant agrees that monetary damages would be inadequate to compensate the other for breach of any provision of this Section 1,
that any such breach or threatened breach will cause irreparable injury, and that, in addition to any other remedies available at law
or in equity, Company will be entitled to injunctive relief against the threatened breach or the continuation of any such breach, without
the necessity of proving actual damages.

 

2.
Unfair Competition and Solicitation. Consultant acknowledges that in light of Consultant’s position with Company and in view
of Consultant’s exposure to, and involvement in, the Company’s sensitive and valuable proprietary information, property (including,
Intellectual Property) and technologies, as well as its goodwill and business plans (collectively, the “Company’s Assets”),
the provisions of this Section 2 are reasonable and necessary to legitimately protect the Company’s Assets, and are being undertaken
by Consultant as a condition to the engagement of Consultant by Company. Consultant confirms that Consultant has carefully reviewed the
provisions of this Section 2, fully understands the consequences thereof and has assessed the respective advantages and disadvantages
to Consultant of entering into this Undertaking and, specifically, this Section 2. In light of the above provisions, Consultant undertakes
that during the Term and for a period of twelve (12) months thereafter, Consultant shall not, directly or indirectly: (i) Solicit, induce,
or hire or retain as an employee, consultant or otherwise (including any attempts to take any of the foregoing action), as applicable
in each case, any employee, consultant, service provider, agent, distributor, customer or supplier of Company to terminate or reduce
the scope of such person’s engagement with Company; or (ii) engage, establish, open or in any manner whatsoever become involved,
either as an employee, owner, partner, agent, shareholder, director, consultant or otherwise, in any business, occupation, work or any
other activity which is reasonably likely to involve or require the use of any of the Company’s Assets; provided, the foregoing
covenant will not be deemed breached as a result of Consultant’s ownership of less than an aggregate of five percent (5%) of any
class of securities of any entity if such class of securities is listed on a national securities exchange or is quoted on the National
Market System of NASDAQ. Consultant confirms that engagement, establishment, opening or involvement, directly or indirectly, either as
an employee, owner, partner, agent, shareholder, director, consultant or otherwise, in any business, occupation, work or any other activity
which competes with the Business as conducted or contemplated to be conducted during the Term, is likely to require the use of all or
a portion of the Company’s Assets.

 

3.
Ownership of Inventions.

 

3.1.
Consultant will promptly disclose to Company, all work product created by Consultant, either alone or jointly with others, during the
provisioning of the services as described in the Agreement by Consultant for the benefit of the Company (collectively, the “Invention(s)”.

 

    2

     

    

 

3.2.
Consultant agrees that all rights, title and interest (including all Intellectual Property rights of any sort throughout the world) relating
to any and all Inventions rendered by Consultant in connection with or arising from his services under the Agreement shall be the sole
and exclusive property of Company. Consultant hereby irrevocably and unconditionally assigns to Company or its designee any and all rights,
title and interest (including all Intellectual Property rights of any sort throughout the world) in and to any and all Inventions that
the Consultant has or may in the future acquire with respect to any Inventions rendered by the Consultant in connection with or arising
from the services described in the Agreement. To the fullest extent allowable under applicable law all Inventions shall constitute a
“work made for hire” as such term is defined in 17 U.S.C. Section 101 (or equivalent laws or principles elsewhere in the
world), made solely for the benefit of Company.

 

3.3.
During the Term and thereafter, as may be requested by the Company from time to time with respect to any Inventions, Consultant
agrees to perform, any and all acts deemed reasonably necessary or desirable by Company to permit and assist it, at Company’s
expense, in obtaining, maintaining, defending and enforcing the Inventions in any and all countries. Such acts may include, but are
not limited to, execution of documents and assistance or cooperation in legal proceedings. Consultant hereby irrevocably designates
and appoints Company and its duly authorized officers and agents, as Consultant’s agents and attorneys-in-fact to act for and
on Consultant’s behalf and instead of Consultant, to execute and file any documents and to do all other lawfully permitted
acts to further the above purposes with the same legal force and effect as if executed by Consultant. In the event that any right,
title or interest to any Inventions, or part thereof, may not, by operation of law, vest in Company or is determined not to be a
“work made for hire” for any reason, then Contractor hereby irrevocably conveys, transfers and assigns to Company all
right, title and interest, throughout the world and without further consideration, as set forth in this Section 3.

 

3.4.
Consultant shall not be entitled, with respect to any of the above, to any monetary consideration or any other consideration except as
explicitly set forth in the Agreement. Without limitation of the foregoing, Consultant irrevocably confirms that the consideration explicitly
set forth in this Undertaking is in lieu of any rights for compensation that may arise in connect ion with the Invention s under applicable
law and waives any right to claim royalties or other consideration with respect to any Invention, including under Section 134 of the
Israeli Patent Law - 1967. With respect to all of the above any, oral understanding, communication or agreement not memorialized in writing
and duly signed by Company shall be null and void.

 

 4. General.

 

4.1.
Consultant represents and warrants to Company that the performance of all the terms of this Undertaking and Consultant’s duties
as a Board Member does not and will not breach any invention assignment, proprietary information, non-compete, confidentiality or similar
agreements with, or rules, regulations or policies of, any former employer or other party (including, without limitation, any academic
institution or any entity related thereto). Consultant acknowledges that Company is relying upon the truthfulness and accuracy of such
representations in engaging Consultant.

 

4.2.
Consultant acknowledges that the provisions of this Undertaking serve as an integral part of the terms of Consultant’s engagement
under the Agreement and reflect the reasonable requirements of Company in order to protect its legitimate interests with respect to the
subject matter hereof.

 

4.3.
Consultant recognizes and acknowledges that in the event of a breach or threatened breach of this Undertaking by Consultant, Company
may suffer irreparable harm or damage and will, therefore, be entitled to injunctive relief to enforce this Undertaking (without limitation
to any other remedy at law or in equity).

 

    3

     

    

 

4.4.
This Undertaking is governed by the laws of the State of Israel (excluding its conflict of law principles), and the competent courts/tribunals
of Tel- Aviv shall have non-exclusive jurisdiction over any disputes arising hereunder.

 

4.5.
If any provision of this Undertaking is held by a court of competent jurisdiction to be unenforceable under applicable law, then
such provision shall be excluded from this Undertaking and the remainder of this Undertaking shall be interpreted as if such
provision were so excluded and shall be enforceable in accordance with its terms; provided, however, that in such event this
Undertaking shall be interpreted so as to give effect, to the greatest extent consistent with and permitted by applicable law, to
the meaning and intention of the excluded provision as determined by such court of competent jurisdiction. In addition, if any
particular provision contained in this Undertaking shall for any reason be held to be excessively broad as to duration, geographical
scope, activity or subject, it shall be construed by limiting and reducing the scope of such provision so that the provision is
enforce able to the fullest extent compatible with applicable law.

 

4.6.
The provisions of this Undertaking shall continue and remain in full force and effect following the termination or expiration of the
relationship between Company and Consultant, for whatever reason. This Undertaking shall not serve in any manner so as to derogate from
any of Consultant’s obligations and liabilities under any applicable law.

 

4.7.
This Undertaking constitutes the entire agreement between Consultant and Company with respect to the subject matter hereof. No amendment
of or waiver of, or modification of any obligation under this Undertaking will be enforceable unless set forth in a writing signed by
Company. No delay or failure to require performance of any provision of this Undertaking shall constitute a waiver of that provision
as to that or any other instance. No waiver granted under this Undertaking as to any one provision herein shall constitute a subsequent
waiver of such provision or of any other provision herein, nor shall it constitute the waiver of any performance other than the actual
performance specifically waived.

 

4.8.
This Undertaking, the rights of Company hereunder, and the obligations of Consultant here under, will be binding upon and inure to the
benefit of their respective successors, assigns, heirs, executors, administrators and legal representatives. Company may assign any of
its rights under this Undertaking. Consultant may not assign, whether voluntarily or by operation of law, any of its obligations under
this Undertaking, except with the prior written consent of Company.

 

*****

 
IN
WITNESS WHEREOF, the undersigned has executed this Undertaking as of the Effective Date.

 

	 	By:	/s/ Stephen Klasko
	 	Name:	Stephen Klasko, M.D.
	 	Title:	In his individual capacity

 

	Agreed and Acknowledged

as of the Effective Date:	 
	 	 
	NUVO GROUP LTD.	 
	 	 
	By:	/s/
Oren Oz	 
	 	Oren Oz, CEO	 

 

    4

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