Document:

Exhibit 4.10

 

PORTIONS OF THIS AGREEMENT WERE OMITTED AND HAVE BEEN FILED

SEPARATELY WITH
THE SECRETARY OF THE COMMISSION PURSUANT TO AN

APPLICATION
FOR CONFIDENTIAL TREATMENT UNDER RULE 24b-2 OF THE

SECURITIES EXCHANGE ACT OF 1934; [***]
DENOTES OMISSIONS

 

	
        SOLICITATION/CONTRACT/ORDER FOR COMMERCIAL
        ITEMS

        OFFEROR TO COMPLETE BLOCKS 12, 17,
        & 30
	
        1. REQUISITION NUMBER

         

        N/A
	PAGE 1 OF 1
	
        2. CONTRACT NO.

         

            V797D-30190
	
        3. AWARD/EFFECTIVE DATE

         

            06/15/2013
	
        4. ORDER NO.    MODIFICATION NO.

         

        N/A
	
        5. SOLICITATION NO.

         

        RFP-797-FSS-99-0025-R7
	
        6. SOLICITATION ISSUE DATE

        4/22/2011

	
        7. FOR SOLICITATION

          INFORMATION CALL:
	
        a. NAME:

        FEDERAL SUPPLY SCHEDULE HELPDESK
	 	
        b. TELEPHONE NO. (No Collect Calls)

        (708) 786-7737
	
        8. OFFER DUE DATE/LOCAL TIME:

        N/A 

	9. ISSUED BY 	CODE	 	 	
        10. THIS ACQUISITION IS

        x UNRESTRICTED OR

         

        See Page 4 of the Read Me First document for NAICS codes and
        size standards under this solicitation.
	
         

        x   SET
ASIDE FOR: (Total set-aside for SINs A-13a and A-13c only)
	
        See Clause A-FSS-31

         

         

         ̈
        EMERGING SMALL BUSINESS

	
         

        VA National Acquisition Center

        Federal Supply Schedule Service 001AL-A2-2

        PO Box 76, Bldg 37

        Hines, IL 60141

         

        Overnight Delivery should be mailed or hand delivered
        to the address located in Block 16
	 	 	
        x   SMALL
BUSINESS 

         ̈   HUBZONE
SMALL BUSINESS 

         ̈
         SERVICE DISABLED VETERAN OWNED SMALL BUSINESS 

         ̈
         8(A)
	
         

         

         

         

         

         

         

         

	11. DELIVERY FOR FOB DESTINATION UNLESS BLOCK IS MARKED	12. DISCOUNT TERMS	 ̈ 13a. THIS CONTRACT IS A RATED ORDER UNDER 	13b. RATING	 
	
         

         ̈ SEE
        SCHEDULE
	Net 30 Days	DPAS (15 CFR 700)	
        14. METHOD OF SOLICITATION

         ̈ RFQ    ̈ IFB     x RFP

	
        15. DELIVER TO

         
	CODE	 	 	
        16. ADMINISTERED BY

         
	CODE	 
	TO BE SHOWN ON EACH ORDER ISSUED UNDER ANY CONTRACT RESULTING FROM THIS SOLICIATION	
        VA NATIONAL ACQUISITION CENTER

        FEDERAL SUPPLY SCHEDULE SERVICE 001AL-A2-2

        1ST AVENUE, 1 BLOCK NORTH OF 22ND
        STREET

        BLDG 37

        HINES, IL 60141

	17a. CONTRACTOR/

OFFEROR   CODE	SZ569 	FACILITY CODE	 	18a. PAYMENT WILL BE MADE BY	CODE	 
	
         

        Itamar Medical, Inc.

        842 Upper Union Street, Suite 2

        Franklin, MA 02038

         

        DUNS 61-985-1327

        TELEPHONE NO. 888-748-2627

         
	 	
         

        SEE BLOCK 15

         
	 	 
	 	 	 	 	 	 

	 ̈ 17b. CHECK IF REMITTANCE IS DIFFERENT AND PUT SUCH ADDRESS IN OFFER	18b. SUBMIT INVOICES TO ADDRESS SHOWN IN BLOCK 18a UNLESS BLOCK BELOW IS CHECKED  ̈ SEE ADDENDUM

	
        19.
        

        ITEM
        NO.
	20. 

SCHEDULE OF SUPPLIES/SERVICES	
        21.

        QUANTITY
	
        22.

        UNIT
	
        23.

        UNIT
        PRICE
	
        24.

        AMOUNT

	
        FSC CLASS

         6510

        6515

        6530

        6532
	
        SIN

        A-50H

         

        FSC Group 65, Part II, Section A

         

        Medical Equipment and Supplies

         

        See Continuation of SF-1449 for Schedule of Items

         

        (Attach
        Reverse and/or Attach Additional Sheets as Necessary)
	 	 	 	 

	
        25. ACCOUNTING AND APPROPRIATION
        DATA

         

        SEE BLOCK 15 
	
        26. TOTAL AWARD AMOUNT
        (For Govt. Use Only)

         

        ESTIMATED VALUE $[***]

 

	 ̈  27a. SOLICITATION INCORPORATES BY REFERENCE FAR 52.212-1, 52.212-4. FAR 52.212-3 AND 52.212-5 ARE ATTACHED. ADDENDA	x ARE	 ̈ ARE NOT ATTACHED.
	 ̈  27b. CONTRACT/PURCHASE ORDER INCORPORATES BY REFERENCE FAR 52.212-4. FAR 52.212-5 IS ATTACHED. ADDENDA	 ̈ ARE	 ̈ ARE NOT ATTACHED

	x  28. CONTRACTOR IS REQUIRED TO SIGN THIS DOCUMENT AND RETURN 1  COPIES TO ISSUING OFFICE. CONTRACTOR AGREES TO FURNISH AND DELIVER ALL ITEMS SET FORTH OR OTHERWISE IDENTIFIED ABOVE AND ON ANY ADDITIONAL SHEETS SUBJECT TO THE TERMS AND CONDITIONS SPECIFIED.	x  29. AWARD OF CONTRACT: REFERENCE  FPR  OFFER DATED 5/28/2013 YOUR OFFER ON SOLICITATION (BLOCK 5), INCLUDING ANY ADDITIONS OR CHANGES WHICH ARE SET FORTH HEREIN, IS ACCEPTED AS TO ITEMS: 

See Summary of Award.

	30a. SIGNATURE OF OFFEROR/CONTRACTOR	31a. UNITED STATES OF AMERICA (SIGNATURE OF CONTRACTING OFFICER)
	/s/ Robert D. Grimm	 

	
        30b. NAME AND TITLE OF SIGNER (TYPE OR PRINT)

         

        Robert D. Grimm, CPCM, Consultant to Itamar 
	
        30c. DATE SIGNED

        October 12, 2011
	
        31b. NAME OF CONTRACTING OFFICER (Type or print)

         

        Nancy S. Keating
	31c. DATE SIGNED

	
        AUTHORIZED FOR LOCAL REPRODUCTION

        PREVIOUS EDITION IS NOT USABLE
	
        STANDARD FORM 1449 (REV. 3/2005)

        Prescribed by GSA - FAR (48 CFR) 53.212

 

    	 	 	 

     

    

 

PORTIONS
OF THIS EXHIBIT WERE OMITTED AND HAVE BEEN FILED

SEPARATELY WITH
THE SECRETARY OF THE COMMISSION PURSUANT TO AN

APPLICATION
FOR CONFIDENTIAL TREATMENT UNDER RULE 24b-2 OF THE

SECURITIES EXCHANGE ACT OF 1934; [***]
DENOTES OMISSIONS

 

Addenda to SF-1449

Summary of Award

VA FSS Contract V797D-30190

 

 

The use of this Government contract
to solicit Government business for non-contract products is fraudulent and subject to prosecution.

 

    	 	 	 

     

    

 

 

Contract
Documents

 

Itamar Medical Inc.’s 65IIA
Medical Equipment and Supplies contract under Federal Supply Schedule Solicitation RFP-797-FSS-99-0025-R7, effective June
1, 2013 through, May 31, 2018, consists of the following documents:

 

FAR 52.212-4 Contract Terms and Conditions – Commercial
Items and Addenda

 

FAR 52.212-5 Contract Terms and Conditions Required to Implement
Statutes or Executive Orders – Commercial Items

 

The contractor will participate in Public Law 109-364 Disaster
Recovery Purchasing Program.

 

The contractor will participate in Public Law 111-5 American
Recovery and Reinvestment Act.

 

	Amendment(s)	 	
        Amendment 0001

        Amendment 0002

        Amendment 0003

        Amendment 0004

	 	 	 
	Proposal	 	Itamar Medical, Inc.offer dated 10/12/2011
	 	 	 
	Revision(s) – revise to be same as cover page section	 	
        07/10/2012 Clarification letter

        [***] Amendments and Price Proposal Spreadsheet

        10/30/2012 Commercial Pricelist/Price proposal Excel

        11/26/2012 Price FSS Proposal freight charges, 01/2013,

        02/2013, 03/2013, 04/2013, 05/2013-freight charges in price

        proposal, 05/15/2013 Freight 2012 and negotiation, 5/21/2013

        [***] pricing and current Itamar prices, 05/23/2013 the final

        negotiated prices and there were discrepancies, 05/31/2013 a

        revised FPR letter.

	 	 	 
	Final Proposal Revision Letter	 	
        05/21/2013, 05/31/2013

        Brian Sutherland

	 	 	 
	Subcontracting Plan	 	None
	 	 	 
	Commerical Pricelist	 	Itamar's Commercial Pricelist of [***]
	 	 	 
	Awarded Pricing	 	A copy of the awarded line items with prices (including IFF) is attached hereto and made a part hereof.

 

		a.	Pricing Terms and Conditions
as agreed to are listed below:

 

	Awarded Special Item Number(s) & Maximum Order	 	[***]
	Basic Discount	 	
        [***]

        Net Discounts are reduced by [***] to compensate
        for FOB Destination freight terms.

	Quantity Discount (Per SIN)	 	
        [***] discount for single orders of [***]
        - [***]

        [***] discount for single orders of [***]
        - [***]

        [***] for single orders of [***]

 

    	 	 	 

     

    

  

	Payment Terms	 	[***]
	Minimum Order	 	None
	Standard Delivery Time	 	21 Days ARO (After Receipt of Order)
	Expedited Delivery Time	 	
        1-2 Days up to 7 Days ARO (After Receipt
        of Order)

        The government will pay the difference
        between normal and expedited delivery charges.

	FOB Point(s)	 	FOB Destination: 48 continuous States and to point of exportation to Alaska, Hawaii and Puerto Rico
	Warranty Provision	 	See Attachment 1
	Returned Goods Policy	 	See Attachment 2
	Installation	 	None
	Training	 	None
	Annual Rebate	 	None
	Credit Card Acceptance	 	Yes, the offeror accepts credit cards up to, equal to and above the micropurchase threshold of [***].
	Rental/Lease Agreement	 	None
	Service Agreement	 	None
	Commercial Price List	 	Itamar Medical, Inc. Commercial Pricelist of [***]. This pricelist is verbatim extract of Itamar’s order entry system as of [***]
	Medical/Surgical Prime Vendor Program Participation	 	Not Participating
	Direct-to-Patient Distribution Program	 	Not Participating
	 	 	Participating
	 	 	Participating
	No Awards	 	None
	Additional Terms Offered/Agreed to but not listed above:	 	
        •      Itamar
        elects not to participate om the prime vendor program, direct ot patient distribution, consignment agreements the ARRA of 2009.

        •      Itamar
        will participate in the Public Health Emergency and Disater Recovery Act.

        •      Tracking
        ratios and FSS price before and after IFF are correct as stated in the FPR letter and correspond to the file: [***].

 

    	 	 	 

     

    

 

		b.	Tracking Customer

 

552.238-75 Price Reduction Clause
and 552.243-72 Modifications for the purpose of the Price Reduction provisions and Price Increase provisions of this contract,
the Government and contractor agree that this contract shall be predicated on the following customer(s) or category(ies) of customer(s):
Universities. During the course of this contract, for any sales under the maximum order, the price relationship of [***] shall
be maintained. This is not applicable for deviation sales previously disclosed.

 

If the identified tracking customer’s
contract/agreement has been canceled, terminated, has expired, or the tracking customer has merged with another group, the assigned
contract specialist shall be notified within 10 days after the event occurs, and if possible, before the event occurs. At such
time the Contractor will negotiate in good faith with the Contracting Officer to establish a successor tracking customer.

 

		c.	Economic Price Adjustment

 

552.216-70 Economic Price Adjustment
Clause – FSS Multiple Award Schedule Contracts (of the solicitation applies to all items awarded under this contract.

 

		d.	Annual Rebate

 

[***].

 

		e.	Tax ID Number

 

Your Tax I.D. number may be
included on the published pricelist to facilitate payment by ordering activities.

 

The sole purpose of funds provided by the
accounting data in Block 25 of the SF1449 is to fund the guaranteed minimum of $2,500 as stated in contract clause l-FSS-106; however,
the funds obligated at time of award do not constitute an order for supplies or services under this contract.

 

    	 	 	 

     

    

 

PORTIONS
OF THIS EXHIBIT WERE OMITTED AND HAVE BEEN FILED

SEPARATELY WITH
THE SECRETARY OF THE COMMISSION PURSUANT TO AN

APPLICATION
FOR CONFIDENTIAL TREATMENT UNDER RULE 24b-2 OF THE

SECURITIES EXCHANGE ACT OF 1934; [***]
DENOTES OMISSIONS

 

Itamar Medical, Inc.

AWARDED PRICING

 

“A” = Awarded

	 	 	 	 	 	 	 	 	Qty in	 	 	 	 	 	FSS Price	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	Unit	 	 	 	Tracking	 	w/out	 	FSS Price
    *	 	FSS Price	 	Tracking	 	 
	 	 	Product
    /	 	 	 	Unit of	 	Of	 	Tracking	 	Customer	 	Freight
    &	 	1.01 for	 	FOB Dest	 	Customer	 	 
	SIN	 	Item
    Number	 	Product
    Description	 	Sale	 	Pkg	 	Customer	 	Price	 	IFF	 	Freight	 	with
    IFF	 	Ratio	 	 
	A-50h	 	AC00016XX	 	ED2000 Accessories	 	EA	 	1	 	[***]	 	[***]	 	[***]	 	[***]	 	[***]	 	[***]	 	A
	A-50h	 	AC05720XX	 	Set of 30 Anchors	 	EA	 	30	 	[***]	 	[***]	 	[***]	 	[***]	 	[***]	 	[***]	 	A
	A-50h	 	AC16000XX	 	12 Pneumatic Endo probes	 	EA	 	12	 	[***]	 	[***]	 	[***]	 	[***]	 	[***]	 	[***]	 	A
	A-50h	 	AC20001XX	 	Adhesive Set for Sensor	 	EA	 	12	 	[***]	 	[***]	 	[***].	 	[***]	 	[***]	 	[***]	 	A
	A-50h	 	AC20002XX	 	Integrated Sensor	 	EA	 	1	 	[***]	 	[***]	 	[***].	 	[***]	 	[***].	 	[***].	 	A
	A-50h	 	AC20003XX	 	24 Bracelets for Watch PAT	 	EA	 	24	 	[***]	 	[***]	 	[***]	 	[***]	 	[***]	 	[***]	 	A
	A-50h	 	AC21002XX	 	12 Pneumo-Opt slp Probes	 	EA	 	12	 	[***]	 	[***]	 	[***]	 	[***]	 	[***]	 	[***]	 	A
	A-50h	 	AC21006XX	 	zzzPAT S/W Kit For WP100/WP200 (US) 4.2	 	EA	 	1	 	[***]	 	[***]	 	[***]	 	[***]	 	[***]	 	[***]	 	A
	A-50h	 	AC21104XX	 	Watch-PAT200 Kit	 	EA	 	1	 	[***]	 	[***]	 	[***]	 	[***]	 	[***]	 	[***]	 	A
	A-50h	 	AS0060520	 	Oximeter sensor for WP200	 	EA	 	1	 	[***]	 	[***]	 	[***]	 	[***]	 	[***]	 	[***]	 	A
	A-50h	 	AS0060590	 	PAT Cable WP200	 	EA	 	1	 	[***]	 	[***]	 	[***]	 	[***]	 	[***]	 	[***]	 	A
	A-50h	 	AS16400XX	 	Moxa Assy for Endo-PAT	 	EA	 	1	 	[***]	 	[***]	 	[***]	 	[***]	 	[***]	 	[***]	 	A
	A-50h	 	CP72000XX	 	Oximeter adhesive bands x 25	 	EA	 	25	 	[***]	 	[***]	 	[***]	 	[***]	 	[***]	 	[***]	 	A
	A-50h	 	CS1000101	 	1 Year Warranty Watch-PAT	 	EA	 	1	 	[***]	 	[***]	 	[***]	 	[***]	 	[***]	 	[***]	 	A
	A-50h	 	CS1000102	 	2 Year Warranty Watch-PAT	 	EA	 	1	 	[***]	 	[***]	 	[***]	 	[***]	 	[***]	 	[***]	 	A
	A-50h	 	CS10025XX	 	Minor Repair and Inspection WatchPAT	 	EA	 	1	 	[***]	 	[***]	 	[***]	 	[***]	 	[***]	 	[***]	 	A
	A-50h	 	CS2000101	 	1 Year Warranty Endo-PAT	 	EA	 	1	 	[***]	 	[***]	 	[***]	 	[***]	 	[***]	 	[***]	 	A
	A-50h	 	CS2000102	 	2 Year Warranty Endo-PAT	 	EA	 	1	 	[***]	 	[***]	 	[***]	 	[***]	 	[***]	 	[***]	 	A
	A-50h	 	CS2000105	 	5 Year Warranty Endo-PAT	 	EA	 	1	 	[***]	 	[***]	 	[***]	 	[***]	 	[***]	 	[***]	 	A
	A-50h	 	FG16000XX	 	Endo-PAT2000 KitTypel6	 	EA	 	1	 	[***]	 	[***]	 	[***]	 	[***]	 	[***]	 	[***]	 	A
	A-50h	 	FG21610XX	 	Oximeter sensor for WP100	 	EA	 	1	 	[***]	 	[***]	 	[***]	 	[***]	 	[***]	 	[***]	 	A
	A-50h	 	FG21620XX	 	Cable conn Probe - WP100	 	EA	 	1	 	[***]	 	[***]	 	[***]	 	[***]	 	[***]	 	[***]	 	A
	A-50h	 	FG21701XX	 	Sleeve Disposable x25	 	EA	 	25	 	[***]	 	[***]	 	[***]	 	[***]	 	[***]	 	[***]	 	A
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	Min	 	[***]	 	 
	 	 	 	 	Note:
    there are 23 PNs being offered to the Gov’t	 	 	 	 	Max	 	[***]	 	 

 

    	 	 	 

     

    

 

Itamar Medical, Inc.

Commercial Price List as of [***]

 

	Product
 Code	 	[***]	 	[***]

Product

Code	 	Product Name	 	List Price as of
 Oct. 19, 2012
	AC0001600	 	[***]	 	AC00016XX	 	ED2000 Accessories	 	  [***]
	AC0572070	 	[***]	 	AC05720XX	 	Set of 30 Anchors	 	  [***]
	AC1600004	 	[***]	 	AC16000XX	 	12 Pneumatic Endo probes	 	  [***]
	AC2000100	 	[***]	 	AC20001XX	 	Adhesive Set for Sensor	 	   [***]
	AC2000201	 	[***]	 	AC20002XX	 	Integrated Sensor	 	   [***]
	AC2000300	 	[***]	 	AC20003XX	 	24 Bracelets for WatchPAT	 	     [***]
	AC2100210	 	[***]	 	AC21002XX	 	12 Pneumo-Opt sip Probes	 	     [***]
	AC2100617	 	[***]	 	AC21006XX	 	zzzPAT S/W Kit For WP100/WP200 (US)	 	      [***]
	AC2110307	 	[***]	 	AC21104XX	 	Watch-PAT200 Kit	 	      [***]
	AS0060520	 	[***]	 	AS0060520	 	Oximeter sensor for WP200	 	     [***]
	AS0060590	 	[***]	 	AS0060590	 	PAT Cable WP200	 	  [***]
	AS1640002	 	[***]	 	AS16400XX	 	Moxa Assy for Endo-PAT	 	  [***]
	CP7200010	 	[***]	 	CP72000XX	 	Oximeter adhesive bands x 25	 	  [***]
	CS1000101	 	[***]	 	CS1000101	 	1 Year Warranty Watch-PAT	 	   [***]
	CS1000102	 	[***]	 	CS1000102	 	2 Year Warranty Watch-PAT	 	   [***]
	CS1002501	 	[***]	 	CS10025XX	 	Minor Repair and Inspection WatchPAT	 	     [***]
	CS2000101	 	[***]	 	CS2000101	 	1 Year Warranty Endo-PAT	 	  [***]
	CS2000102	 	[***]	 	CS2000102	 	2 Year Warranty Endo-PAT	 	  [***]
	CS2000105	 	[***]	 	CS2000105	 	5 Year Warranty Endo-PAT	 	  [***]
	FG1600016	 	[***]	 	FG16000XX	 	Endo-PAT2000 Kit Type l6	 	   [***]
	FG2161001	 	[***]	 	FG21610XX	 	Oximeter sensor for WP100	 	   [***]
	FG2162002	 	[***]	 	FG21620XX	 	Cable conn Probe - WP100	 	       [***]
	FG2170102	 	[***]	 	FG21701XX	 	Sleeve Disposable x25	 	     [***]

 

This pricelist is a verbatim extract of
Itamar’s order entry system as of [***]

 

    	 	 	 

     

    

 

Itamar Medical, Inc.

 

Attachment 1

 

Warranty: The Contractor
guarantees the product furnished will be free from defects in material and workmanship for a period of one (1) year from date of
delivery. The Contractor will replace, at its option, all parts found defective within the period with cost of replacement, including
shipping charge, to be borne by the Contractor. Under no circumstances will any equipment covered by this guarantee be returned
without (a) advance notice to the Contractor, or (b) obtaining shipping instructions from the Contractor.

 

    	 	 	 

     

    

 

Itamar Medical, Inc.

 

Attachment 2

 

Return Policy: All
items must be returned in their original package within 30 days from date of delivery. In the event that a shipping error occurs
due to contractor’s error, contractor will pay freight both ways for return/exchange of products. If an ordering facility
error occurs, the ordering facility will pay return freight. No restocking fee will apply either way. Please call 1-888-748-2627
for a return authorization number (RA#).

 

    	 	 	 

     

    

  

PORTIONS
OF THIS AGREEMENT WERE OMITTED AND HAVE BEEN FILED

SEPARATELY WITH
THE SECRETARY OF THE COMMISSION PURSUANT TO AN

APPLICATION
FOR CONFIDENTIAL TREATMENT UNDER RULE 24b-2 OF THE

SECURITIES EXCHANGE ACT OF 1934; [***]
DENOTES OMISSIONS

 

	
        SOLICITATION/CONTRACT/ORDER FOR COMMERCIAL
        ITEMS

        OFFEROR TO COMPLETE BLOCKS 12, 17, 23,
        24, & 30
	1. REQUISITION NO.	PAGE 1 OF 18
	
        2. CONTRACT NO.

         

            V797D-30190
	
        3. AWARD/EFFECTIVE DATE

         

            See Block 31
	
        4. ORDER NO.

         

            VA260-12-A-0023A
	
        5. SOLICITATION NUMBER

         

        VA260-12-Q-0065
	6. SOLICITATION ISSUE DATE
	
        7. FOR SOLICITATION

          INFORMATION CALL:
	
        a. NAME

        Chris Towery
	 	b. TELEPHONE NO. (No Collect Calls) [***]	8. OFFER DUE DATE/LOCAL TIME

 

	9. ISSUED BY 	CODE	 	260	10. THIS ACQUISITION IS	x UNRESTRICTED OR	 ̈ SET ASIDE: ___% FOR:
	
         

        Department of Veterans Affairs

        Network Contracting Office 20

        8524 N. wall St

         

        Spokane WA 99208
	 	
         ̈  SMALL
        BUSINESS

         

         ̈  HUBZONE
        SMALL  

         BUSINESS

         

         ̈  SERVICE-DISABLED
         

         VETERAN-OWNED  

         SMALL BUSINESS

         
	
         ̈
        WOMEN-OWNED SMALL BUSINESS

        (WOSB) ELIGIBLE UNDERE THE WOMEN-OWNED

        SMALL BUSINESS PROGRAM

         

         ̈
        EDWOSB

         

         ̈
        8(A)
	
         

         

         

         

         

         

         

         

         NAICS:   423450

         

        SIZE STANDARD:

        100 Employees

	11. DELIVERY FOR FOB DESTINATION UNLESS BLOCK IS MARKED	12. DISCOUNT TERMS	 ̈ 13a. THIS CONTRACT IS A RATED ORDER UNDER 	
        13b. RATING

        N/A
	 
	 ̈ SEE SCHEDULE	 	DPAS (15CFR 700)	
        14. METHOD OF SOLICITATION

        x RFQ    ̈
        IFB      ̈ RFP

	
        15. DELIVER TO

         
	CODE	 	260	
        16. ADMINISTERED BY

         
	CODE	 
	See Delivery Orders	 	 	
         

        Department of Veterans Affairs

        Network Contracting Office 20

        8524 N. wall St

         

        Spokane WA 99208

	17a. CONTRACTOR/

OFFICEROR    CODE	 	FACILITY CODE	 	18a. PAYMENT WILL BE MADE BY	CODE	 
	
         

        ITAMAR MEDICAL, INC

         

        842 Upper Union St Ste 2

         

        Franklin, MA 02038

         

        TELEPHONE NO.

         
	 	DUNS: 619851327 DUNS+4:	
         

        Department of Veterans Affairs

        FMS-VA-2 (101)

        Financial Service Center

        PO Box 149971

        Austin TX 78714-9971

         

        PHONE:
	FAX:	 

 

    	 	 	 

     

    

  

	 ̈ 17b. CHECK IF REMITTANCE IS DIFFERENT AND PUT SUCH ADDRESS IN OFFER	
        18b. SUBMIT INVOICES TO ADDRESS SHOWN IN
        BLOCK 18a UNLESS BLOCK BELOW IS CHECKED

        x
        SEE ADDENDUM

	
        19.
        

        ITEM
        NO.
	20. 

SCHEDULE OF SUPPLIES/SERVICES	
        21.

        QUANTITY
	
        22.

        UNIT
	
        23.

        UNIT
        PRICE
	
        24.

        AMOUNT

	 	
        Federal Supply Schedule
        Blanket Purchase Agreement to provide portable sleep monitoring devices and associated consumables for such devices throughout
        VISN 20.

         

        The original BPA# VA26Q-12-A-0Q23
        referenced the vendor’s previous NAC contract number. This document provides the means to reference the vendor's new NAC
        FSS Contract Number V797D-30190 and establishes a new BPA# VA260-12-A-Q023A All terms and conditions, period of performances remain
        the same from the original BPA. Merely an administrative action to ensure all orders placed against the BPA reference the vendors
        valid NAC FSS Contract Number.

         

        VA POC: Chris Towery

        e-mail: [***]

        [***]

         

        (Use
        Reverse and/or Attach Additional Sheets as Necessary)
	 	 	 	 

	25. ACCOUNTING AND APPROPRIATION DATA	
        26. TOTAL AWARD AMOUNT
        (For Govt. Use Only)

         

        $0.00

	 ̈  27a. SOLICITATION INCORPORATES BY REFERENCE FAR 52.212-1,52.212-4. FAR 52.212-3 AND 62.212-5 ARE ATTACHED. ADDENDA	 ̈ ARE	 ̈ ARE NOT ATTACHED.
	 ̈  27b. CONTRACT/PURCHASE ORDER INCORPORATES BY REFERENCE FAR 52.212-1. FAR 52.212-6 IS ATTACHED. ADDENDA	 ̈ ARE	 ̈ ARE NOT ATTACHED

	 ̈  28. CONTRACTOR IS REQUIRED TO SIGN THIS DOCUMENT AND RETURN COPIES TO ISSUING OFFICE. CONTRACTOR AGREES TO FURNISH AND DELIVER ALL ITEMS SET FORTH OR OTHERWISE IDENTIFIED ABOVE AND ON ANY ADDITIONAL SHEETS SUBJECT TO THE TERMS AND CONDITIONS SPECIFIED	 ̈  29. AWARD OF CONTRACT: REF. _______________OFFER DATED________________________. YOUR OFFER ON SOLICITATION (BLOCK 5), INCLUDING ANY ADDITIONS OR CHANGES WHICH ARE SET FORTH HEREIN IS ACCEPTED AS TO ITEMS:

	30a. SIGNATURE OF OFFEROR/CONTRACTOR	31a. UNITED STATES OF AMERICA (SIGNATURE OF CONTRACTING OFFICER)
	/s/ Arnon Tuval	/s/ Brian Thomas

	
        30b. NAME AND TITLE OF SIGNER (TYPE OR PRINT)

        

        Arnon Tuval

        VP Operations

         
	
        30c. DATE SIGNED

        3/12/14
	
        31b. NAME OF CONTRACTING OFFICER (TYPE OR PRINT)

         

        Brian Thomas

        V2012L3-0563
	
        31c. DATE SIGNED

        3/12/2014

	
        AUTHORIZED FOR LOCAL REPRODUCTION

        PREVIOUS EDITION IS NOT USABLE
	
        STANDARD FORM 1449 (REV. 2/2012)

        Prescribed by GSA - FAR (46 CFR) 53.212

 

    	 	 	 

     

    

 

Table of Contents

 

	SECTION A	1
	 	 
	A.1 SF 1449 SOLICITATION/CONTRACT/ORDER FOR COMMERCIAL ITEMS	1
	 	 
	SECTION B - CONTINUATION OF SF 1449 BLOCKS	3
	 	 
	B.l PRICE/COST SCHEDULE	3
	B.2 ADMINISTRATIVE DATA	4
	B.3 CONTRACT ADMINISTRATION DATA	5
	B.4 AUTHORITY	6
	B.5 DESCRIPTION OF AGREEMENT	6
	B.6 PRICING	6
	B.7 PREVAILING TERMS AND CONDITIONS	7
	B.8 TERM OF BPA	7
	B.9 EXTENT OF OBLIGATIONS	7
	B.10 PURCHASE LIMITATION	7
	B.11 INDIVIDUALS AUTHORIZED TO PURCHASE UNDER BPA	7
	B.12 BILLING AND INVOICES	7
	B.13 VA POC RESPONSIBILITIES	8
	B. l4 CONTRACTOR RESPONSIBILITIES	9
	B. l5 SECURITY REQUIREMENTS	9
	B. l6 TECHNICAL QUALIFICATIONS AND REQUIREMENTS	9
	B. l7 PROHIBITION OF ADVERTISING OF AWARD	10
	B. l8 TAX EXEMPT	11
	 	 
	SECTION C - CONTRACT CLAUSES	12
	 	 
	C.l 52.246-17 WARRANTY OF SUPPLIES OF A NONCOMPLEX NATURE (JUNE 2003)	12
	C.2 52.217-8 OPTION TO EXTEND SERVICES (NOV 1999)	14
	C.3 52.217-9 OPTION TO EXTEND THE TERM OF THE CONTRACT (MAR 2000)	14
	C.4 52.237-3 CONTINUITY OF SERVICES (JAN 1991)	14
	C.5 VAAR 852.203-70 COMMERCIAL ADVERTISING (JAN 2008)	14
	C.6 VAAR 852.211-70 SERVICE DATA MANUALS (NOV 1984)	15
	C.7 VAAR 852.211-73 BRAND NAME OR EQUAL (JAN 2008)	16
	C.8 VAAR 852.237-70 CONTRACTOR RESPONSIBILITIES (APR 1984)	17
	C.9 VAAR 852.246-70 GUARANTEE (JAN 2008)	17
	C.10 VAAR 852.246-71 INSPECTION (JAN 2008)	17
	C.11 Notice: Mandatory Electronic Invoicing	18

 

    	 	 	 

     

    

 

SECTION B - CONTINUATION OF SF 1449 BLOCKS

 

B. I price/cost
SCHEDULE

 

BASE YEAR: 4/1/2012 - 3/31/2013

 

	Item Number 0001	 	1 JB	 	 [***]

 

Percentage discount rate off the Vendor’s complete federal
supply schedule catalog.

 

OPTION YEAR 1: 4/1/2013 - 3/31/2014

 

	Item Number 0001	 	1 JB	 	 [***]

 

Percentage discount rate off the Vendor’s complete federal
supply schedule catalog.

 

OPTION YEAR 2: 4/1/2014 - 3/31/2015

 

	Item Number 0001	 	1 JB	 	 [***]

 

Percentage discount rate off the Vendor’s complete federal
supply schedule catalog.

 

OPTION YEAR 3: 4/1/2015 - 3/31/2016

 

	Item Number 0001	 	1 JB	 	 [***]

 

Percentage discount rate off the Vendor’s complete federal
supply schedule catalog.

 

OPTION YEAR 4: 4/1/2016 - 3/31/2017

 

	Item Number 0001	 	1 JB	 	 [***]

 

Percentage discount rate off the Vendor’s complete federal
supply schedule catalog.

 

	GRAND TOTAL	 	 	[***]	 	Mean Discount Rate for [***]

  

    	 	 	 

     

    

 

Pursuant to General Services Administration (GSA) Federal Supply
Schedule (FSS) contract number(s) V797D-30190 (“Contract(s)”), a Blanket Purchase Agreement (BPA) is hereby
established between Itamar-Medical Inc. and the Network Contracting Office(NCO) 20 VA Healthcare Network under the terms
and conditions of the above stated contract(s) and the following terms and conditions incorporated in this BPA:

 

	B.2 ADMINISTRATIVE DATA	 
	 	 
	1. Primary Point of Contact:	Arnon Tuval
	 	 
	 	VP of Operations, HR, & Contract Compliance
	 	 
	 	Itamar Medical Inc.
	 	 
	 	842 Upper Union Street, #2
	 	 
	 	Franklin, MA 02038
	 	 
	 	[***]
	 	 
	 	Ph# 508-808-0597
	 	 
	2. Alternate Point of Contact:	 
	 	 
	 	Christopher Hallett
	 	 
	 	VP of Sales
	 	 
	 	Itamar Medical Inc.
	 	 
	 	842 Upper Union Street, #2
	 	 
	 	Franklin, MA 02038
	 	 
	 	[***]
	 	 
	DUNS Number: 531857076	 
	 	 
	TIN: [***]	 

 

    	 	 	 

     

    

 

B.3 CONTRACT ADMINISTRATION DATA

 

1. Contract Administration: All contract
administration matters shall be handled by the following individuals:

 

a. CONTRACTOR: Itamar Medical Inc.

 

b. GOVERNMENT: Contracting Officer 00260

 

Department of Veterans Affairs

 

Contracting & Purchasing (90C)

 

8524 N. Wall St

 

Spokane WA 99208

 

2. CONTRACTOR REMITTANCE ADDRESS: All payments
by the Government to the contractor shall be made in accordance with:

 

x
52.232-34, Payment by Electronic Funds Transfer -Other than Central Contractor Registration, or

 

 ̈
52.232-36, Payment by Third Party

 

3. INVOICES: Invoices shall be submitted
in arrears:

 

	a.	Quarterly	 ̈
	 	 	 
	b.	Semi-Annually	 ̈
	 	 	 
	c.	Other	[Upon Receipt and Acceptance]

 

    	 	 	 

     

    

 

B.4 AUTHORITY

 

		1.	This BPA is entered into
pursuant to the terms of the BPA holder’s FSS contract, FAR 13.303 and FAR 8.404.

 

B.5 DESCRIPTION OF AGREEMENT

 

		1.	The contractor agrees to
the following terms of a blanket purchase agreement (BPA) exclusively with the Department of Veterans Affairs, VA NW Health Network
(NCO20).

 

		2.	Under this agreement, the
BPA holder shall provide Portable Sleep Monitoring Devices worn on the wrist and finger probe consumables associated with such
devices to include service and maintenance.

 

		3.	The BPA will provide a single
Item Number for a percentage discount rate off the Vendor’s complete Federal Supply Schedule (FSS) catalog. Any items associated
with the sleep study devices to include consumables and maintenance of said items shall be available on schedule throughout the
life of the BPA. The complete current FSS schedule catalog shall be provided to the Contracting Officer (CO) and attached to the
executed BPA. As new items are added or deleted from the FSS contract the contractor shall provide an updated pricing list to
the Contracting Officer within 14 days of any modifications.

 

		4.	The supplies and/or services
shall be ordered by an authorized Contracting Officer during the specified period stated in the paragraph titled “Term of
BPA”. This BPA is for support to NCO20 VA Healthcare Network (including geographically separated units and operating locations)
only.

 

B.6 PRICING

 

		1.	The GSA Schedule pricing
has been determined fair and reasonable by the GSA according to FAR 8.404(d). The prices (loaded labor rates) included on the
BPA list (or applicable “discounted” rates submitted in a proposal response to an RFQ resulting in award) that are
in effect on the effective date of an order shall govern that order’s basic performance period. The BPA holder shall update
the BPA price list within 24 hours of a change in their Schedule prices to insure that the BPA pricing remains current.

 

		2.	The BPA holder can voluntarily
reduce offered prices or increase the discount rate at any time by giving 24-hour advance notice (by facsimile or electronic-mail)
to the NCO20 VA Healthcare Network/Contracting Officer. When in effect, the new price list will be posted on the BPA holder’s
Internet site and made immediately available to all authorized potential BPA users.

 

		3.	In no event will the prices
under this BPA exceed those on the applicable GSA schedule. Any order already issued shall not be affected by any change to FSS
pricing. The prices offered under this BPA will undergo annual review by the NCO20 Contracting Officer.

 

    	 	 	 

     

    

 

B.7 PREVAILING TERMS
AND CONDITIONS

 

		1.	All orders placed against
this BPA are subject to the terms and conditions of the GSA FSS Contract and all clauses and provisions in full text or incorporated
by reference herein:

 

B.8 TERM OF BPA

 

		1.	This BPA consists of [***].
The BPA holder is required to immediately notify, in writing, the NCO20 VA Healthcare Network Contracting Activity/Contracting
Officer if at any time prior to expiration date, the GSA FSS Contract, upon which this BPA is based, is no longer in force. This
BPA is not a contract. If the BPA holder fails to perform in a manner satisfactory to the NCO20 VA Healthcare Network Contracting
Activity Contracting Officer, this BPA may be canceled with 30 days written notice to the BPA holder by the NCO20 VA Healthcare
Network Contracting Activity Contracting Officer.

 

B.9 EXTENT OF OBLIGATIONS

 

		1.	This BPA does not obligate
any funds. Funds will be obligated as individual orders are requested.

 

		2.	The Government is obligated
only to the extent of authorized orders actually issued under the BPA by the Contracting Officer.

 

		3.	Supply orders issued under
this agreement shall be Firm Fixed Price. Service orders issued under this agreement shall be priced either at hourly rates, or
at a fixed price for performance of a specific task.

 

B.10 PURCHASE LIMITATION

 

		1.	Purchase Limitations for
each individual obligation number shall not exceed [***].

 

B.11 INDIVIDUALS AUTHORIZED
TO PURCHASE UNDER BPA

 

		1.	Government Contracting Officers
representing NETWORK CONTRACTING OFFICE (NCO) 20 VA Healthcare Network are the only users authorized to place orders under this
BPA. Any authorized user shall only be allowed to issue an order under this BPA if funds are certified and the BPA awarding office’s
Deliver Order or Task Order number is assigned. BPA holders shall not accept or perform any purported order that does not contain
a Delivery Order or Task Order number.

 

B.12 BILLING AND INVOICES

 

		1.	Orders will be placed against
this BPA via SF 1449’s sent by e-mail to vendor.

 

    	 	 	 

     

    

 

		2.	Unless otherwise agreed to,
all call orders under this BPA must include, at a minimum, the following information:

 

	 	(a)	Name of Contractor;

 

	 	(b)	BPA Number;

 

	 	(c)	Task Order/Delivery Order Number;

 

	 	(d)	Obligation Number;

 

	 	(e)	Date of Purchase;

 

	 	(f)	Quantity, Unit Price, and Extension of Each Item;

 

	 	(g)	Description of Services (tasks and deliverables if applicable); and

 

	 	(h)	Period of Performance (if applicable)

 

	 	(i)	Date of Delivery (if applicable)

 

		3.	The requirements of a proper
invoice will be specified in the 1449 of each order. Invoices will be submitted to the address specified within the task order/delivery
order issued against this BPA on the SF1449. In the event of an inconsistency between the provisions of this BPA and the contractor’s
invoice, the provisions of this BPA will take precedence.

 

		4.	Inspection and acceptance
shall be accomplished as follows for all supplies and services furnished under any resulting order hereby designate a Point of
Contact (POC) in the program office as the point of final inspection and acceptance. The BPA holder will submit each invoice to
the address in block 18a on page 1, of the SF1449. If the invoice is incomplete or inaccurate, the invoice will not be processed.

 

		5.	An itemized invoice shall
be submitted to the CO at least monthly or upon expiration of this BPA, whichever occurs first, for all deliveries made during
a billing period and for which payment has not been received. Copies of delivery tickets shall support these invoices. “Approved-for-payment”
invoices will be submitted to the payment address specified on each individual order issued under this BPA.

 

		6.	Ensure each invoice contains
the obligation number associated with each order. The obligation number is different than the order number.

 

		7.	Each invoice shall list FSS
price and discount price for each line item on call order.

 

B.13 VA POC RESPONSIBILITIES

 

		1.	The CO may designate a Point
of Contact (POC) for each delivery order to act as the Project Manager (PM).

 

	 	a.	Providing the Vendor with an identifiable need and requesting the Vendor produce a detailed quote for supplies and/or services.

 

	 	b.	Coordination with facility departments.

 

    	 	 	 

     

    

 

	 	c.	Ensuring a purchase request is sent to contracting

 

	 	d.	Ensuring the quote and all pertinent documentation are provided to the CO.

 

	 	e.	Delivery, Inspection and Acceptance.

 

	 	f.	Ensuring any invoices that require certification are processed, approved and certified for payment.

 

B.14 CONTRACTOR RESPONSIBILITIES

 

		1.	The contractor shall perform
when requested by the POC, to establish detailed quotes for specified requirements that fit within this BPA of supplies and services
to be placed against the BPA.

 

	 	a.	Contractor shall provide detailed quotes to the POC itemizing all services and supplies being requested for specified dates.

 

	 	b.	All costs shall be annotated on the quote. Once the order is processed by the Contracting Officer, no additional costs may be added for said services and supplies without Contracting Officer approval.

 

	 	c.	Contractor shall deliver services and supplies as specified in the Contracting Officer signed order.

 

B.15 SECURITY REQUIREMENTS

 

		1.	The preliminary and final
deliverables, and all associated working papers, application source code, and other material deemed relevant by VA which have
been generated by the contractor in the performance of this award and any subsequent orders, are the exclusive property of the
U.S. Government and shall be submitted to the CO at the conclusion of the task order.

 

		2.	The CO shall be the sole
authorized official to release, verbally or in writing, any data, draft deliverables, final deliverables, or any other written
or printed materials pertaining to this award and any subsequent orders. No information shall be released by the contractor. Any
request for information relating to this task order, presented to the contractor, shall be submitted to the CO for response.

 

		3.	Press releases, marketing
material, or any other printed or electronic documentation related to this project, shall not be publicized without the written
approval of the CO.

 

B.16 TECHNICAL QUALIFICATIONS AND REQUIREMENTS

 

		1.	Vendors FSS contract shall
contain items that meet the following characteristics to qualify for BPA.

 

	 	A)	Portable (wrist-watch) sleep diagnostic device.

 

Model: WatchPAT200.

MFR: Itamar

 

Product Number: AC2110307

 

	 	i.	The Sleep Study Devices shall provide the following information:

 

-RDI and AHI

 

    	 	 	 

     

    

 

-ODI (Oxygen level)

 

-Heart Rate

 

-Body Position

 

-Snoring Intensity (dB)

 

-Real Sleep Time

 

-Sleep Stages and Architecture (wake/light/deep)

 

-REM/nonREM Sleep

 

-Sleep Fragmentation

 

	 	ii.	The sleep device shall also measure 6 channels:

 

-PAT (Peripheral Arterial Tone)

 

-Oximetry

 

-Actigraphy

 

-Heart Rate

 

-Body Position

 

-Snoring

 

	 	iii.	The sleep monitoring device must be able to be worn around wrist and be compatible with finger probes.

 

	 	iv.	Device shall meet AASM standard.

 

B.17 PROHIBITION OF
ADVERTISING OF AWARD 

 

		1.	The contractor shall not
refer to this award in commercial advertising, or similar promotions in such a manner as to state or to imply that the product
or services provided is endorsed, preferred, or is considered superior to other products or services by the Department of Veterans
Affairs. This includes advertising, or similar promotions, in all forms or electronic, broadcast, and print media.

 

		2.	In addition, the contractor
is restricted from reproducing the image(s) of the VA in any form of commercial advertising, or similar promotion. This includes
images of official seals and buildings. Any proposed usage of such symbols must be brought to the attention of the Contracting
Officer (CO).

 

    	 	 	 

     

    

 

B.18 TAX EXEMPT

 

	 	1.	The Department of Veterans Affairs, as a Federal Government Agency, is tax exempt in accordance with the following tax-exempt clauses:

 

52.228-1       State and Local
Taxes (Apr 1994)

 

52.229-4       Federal, State
 & Local Taxes (Jan 1991)

 

    	 	 	 

     

    

 

SECTION C - CONTRACT CLAUSES

 

C.1 52.246-17 WARRANTY OF SUPPLIES OF A NONCOMPLEX NATURE
(JUNE 2003)

 

	 	(a)	Definitions. As used in this clause—

 

“Acceptance” means the act
of an authorized representative of the Government by which the Government assumes for itself, or as an agent of another, ownership
of existing supplies, or approves specific services as partial or complete performance of the contract.

 

“Supplies” means the end items
furnished by the Contractor and related services required under this contract. The word does not include “data.”

 

	 	(b)	Contractor’s obligations.

 

(1)       Notwithstanding
inspection and acceptance by the Government of supplies furnished under this contract, or any condition of this contract concerning
the conclusiveness thereof, the Contractor warrants that for —

 

(i)        All
supplies furnished under this contract will be free from defects in material or workmanship and will conform with all requirements
of this contract; and

 

(ii)       The
preservation, packaging, packing, and marking, and the preparation for, and method of, shipment of such supplies will conform with
the requirements of this contract.

 

(2)       When
return, correction, or replacement is required, transportation charges and responsibility for the supplies while in transit shall
be borne by the Contractor. However, the Contractor’s liability for the transportation charges shall not exceed an amount
equal to the cost of transportation by the usual commercial method of shipment between the place of delivery specified in this
contract and the Contractor’s plant, and return.

 

(3)       Any
supplies or parts thereof, corrected or furnished in replacement under this clause, shall also be subject to the terms of this
clause to the same extent as supplies initially delivered. The warranty, with respect to supplies or parts thereof, shall be equal
in duration to that in paragraph (b)(1) of this clause and shall run from the date of delivery of the corrected or replaced supplies.

 

(4)       All
implied warranties of merchantability and “fitness for a particular purpose” are excluded from any obligation contained
in this contract.

 

(c)       Remedies
available to the Government.

 

(1)       The
Contracting Officer shall give written notice to the Contractor of any breach of warranties in paragraph (b)(1) of this clause
within.

 

(2)       Within
a reasonable time after the notice, the Contracting Officer may either—

 

(i)        Require,
by written notice, the prompt correction or replacement of any supplies or parts thereof (including preservation, packaging, packing,
and marking) that do not conform with the requirements of this contract within the meaning of paragraph (b)(1) of this clause;
or

 

(ii)       Retain
such supplies and reduce the contract price by an amount equitable under the circumstances.

 

    	 	 	 

     

    

 

(3)(i) If the contract provides for inspection
of supplies by sampling procedures, conformance of supplies or components subject to warranty action shall be determined by the
applicable sampling procedures in the contract. The Contracting Officer—

 

(A) May, for sampling purposes, group any
supplies delivered under this contract;

 

(B) Shall require the size of the sample
to be that required by sampling procedures specified in the contract for the quantity of supplies on which warranty action is proposed;

 

(C) May project warranty sampling results
over supplies in the same shipment or other supplies contained in other shipments even though all of such supplies are not present
at the point of reinspection; provided, that the supplies remaining are reasonably representative of the quantity on which warranty
action is proposed; and

 

(D) Need not use the same lot size as on
original inspection or reconstitute the original inspection lots.

 

(ii) Within a reasonable time after notice
of any breach of the warranties specified in paragraph (b)(1) of this clause, the Contracting Officer may exercise one or more
of the following options:

 

(A) Require an equitable adjustment in
the contract price for any group of supplies.

 

(B) Screen the supplies grouped for warranty
action under this clause at the Contractor’s expense and return all nonconforming supplies to the Contractor for correction
or replacement.

 

(C) Require the Contractor to screen the
supplies at locations designated by the Government within the contiguous United States and to correct or replace all nonconforming
supplies.

 

(D) Return the supplies grouped for warranty
action under this clause to the Contractor (irrespective of the f.o.b. point or the point of acceptance) for screening and correction
or replacement.

 

(4)(i) The Contracting Officer may, by
contract or otherwise, correct or replace the nonconforming supplies with similar supplies from another source and charge to the
Contractor the cost occasioned to the Government thereby if the Contractor—

 

(A) Fails to make redelivery of the corrected
or replaced supplies within the time established for their return; or

 

(B) Fails either to accept return of the
nonconforming supplies or fails to make progress after their return to correct or replace them so as to endanger performance of
the delivery schedule, and in either of these circumstances does not cure such failure within a period of 10 days (or such longer
period as the Contracting Officer may authorize in writing) after receipt of notice from the Contracting Officer specifying such
failure.

 

(ii) Instead of correction or replacement
by the Government, the Contracting Officer may require an equitable adjustment of the contract price. In addition, if the Contractor
fails to furnish timely disposition instructions, the Contracting Officer may dispose of the nonconforming supplies for the Contractor’s
account in a reasonable manner. The Government is entitled to reimbursement from the Contractor, or from the proceeds of such disposal,
for the reasonable expenses of the care and disposition of the nonconforming supplies, as well as for excess costs incurred or
to be incurred.

 

(5) The rights and remedies of the Government
provided in this clause are in addition to and do not limit any rights afforded to the Government by any other clause of this contract.

 

(End of Clause)

 

    	 	 	 

     

    

 

C.2 52.2l7-8 OPTION TO EXTEND SERVICES (NOV 1999)

 

The Government may require continued performance
of any services within the limits and at the rates specified in the contract. These rates may be adjusted only as a result of revisions
to prevailing labor rates provided by the Secretary of Labor. The option provision may be exercised more than once, but the total
extension of performance hereunder shall not exceed 6 months. The Contracting Officer may exercise the option by written notice
to the Contractor within 15 days.

 

(End of Clause)

 

C.3 52.217-9 OPTION TO EXTEND OF THE CONTRACT (MAR. 2000)

 

(a) The Government may extend the term
of this contract by written notice to the Contractor within 15 days; provided that the Government gives the Contractor a preliminary
written notice of its intent to extend at least 30 days days before the contract expires. The preliminary notice does not commit
the Government to an extension.

 

(b) If the Government exercises this option,
the extended contract shall be considered to include this option clause.

 

(c) The total duration of this contract,
including the exercise of any options under this clause, shall not exceed 5 years.

 

(End of Clause)

 

C.4 52.237-3 CONTINUITY OF SERVICES (JAN 1991)

 

(a) The Contractor recognizes that the
services under this contract are vital to the Government and must be continued without interruption and that, upon contract expiration,
a successor, either the Government or another contractor, may continue them. The Contractor agrees to (1) furnish phase-in training
and (2) exercise its best efforts and cooperation to effect an orderly and efficient transition to a successor.

 

(b) The Contractor shall, upon the Contracting
Officer’s written notice, (1) furnish phase-in, phase-out services for up to 90 days after this contract expires and (2)
negotiate in good faith a plan with a successor to determine the nature and extent of phase-in, phase-out services required. The
plan shall specify a training program and a date for transferring responsibilities for each division of work described in the plan,
and shall be subject to the Contracting Officer’s approval. The Contractor shall provide sufficient experienced personnel
during the phase-in, phase-out period to ensure that the services called for by this contract are maintained at the required level
of proficiency.

 

(c) The Contractor shall allow as many
personnel as practicable to remain on the job to help the successor maintain the continuity and consistency of the services required
by this contract. The Contractor also shall disclose necessary personnel records and allow the successor to conduct on-site interviews
with these employees. If selected employees are agreeable to the change, the Contractor shall release them at a mutually agreeable
date and negotiate transfer of their earned fringe benefits to the successor.

 

(d) The Contractor shall be reimbursed
for all reasonable phase-in, phase-out costs (i.e., costs incurred within the agreed period after contract expiration that result
from phase-in, phase-out operations) and a fee (profit) not to exceed a pro rata portion of the fee (profit) under this contract.

 

(End of Clause)

 

C.5 VAAR 852.203-70 COMMERCIAL ADVERTISING (JAN 2008) 

 

The bidder or offeror agrees that if a
contract is awarded to him/her, as a result of this solicitation, he/she will not advertise the award of the contract in his/her
commercial advertising in such a manner as to state or imply that the Department of Veterans Affairs endorses a product, project
or commercial line of endeavor.

 

    	 	 	 

     

    

 

(End of Clause)

    

C.6 VAAR 852.211-70 SERVICE DATA MANUALS (NOV l984) 

 

(a) The successful bidder will supply operation/maintenance
(service data) manuals with each piece of equipment in the quantity specified in the solicitation and resulting purchase order.
As a minimum, the manual(s) shall be bound and equivalent to the manual(s) provided the manufacturer’s designated field service
representative as well as comply with all the requirements in paragraphs (b) through (i) of this clause. Sections, headings and
section sequence identified in (b) through (i) of this clause are typical and may vary between manufacturers. Variances in the
sections, headings and section sequence, however, do not relieve the manufacturer of his/her responsibility in supplying the technical
data called for therein.

 

(b) Title Page and Front Matter.
The title page shall include the equipment nomenclature, model number, effective date of the manual and the manufacturer’s
name and address. If the manual applies to a particular version of the equipment only, the title page shall also list that equipment’s
serial number. Front matter shall consist of the Table of Contents, List of Tables, List of Illustrations and a frontispiece (photograph
or line drawing) depicting the equipment.

 

(c) Section 1, General Description.
This section shall provide a generalized description of the equipment or devices and shall describe its purpose or intended use.
Included in this section will be a table listing all pertinent equipment specifications, power requirements, environmental limitations
and physical dimensions.

 

(d) Section II, Installation. Section
II shall provide pertinent installation information. It shall list all input and output connectors using applicable reference designators
and functional names as they appear on the equipment. Included in this listing will be a brief description of the function of each
connector along with the connector type. Instructions shall be provided as to the recommended method of repacking the equipment
for shipment (packing material, labeling, etc.).

 

(e) Section III, Operation. Section
III will fully describe the operation of the equipment and shall include a listing of each control with a brief description of
its function and step-by-step procedures for each operating mode. Procedures will use the control(s) nomenclature as it appears
on the equipment and will be keyed to one or more illustrations of the equipment. Operating procedures will include any preoperational
checks, calibration adjustments and operation tests. Notes, cautions and warnings shall be set off from the text body so they may
easily be recognizable and will draw the attention of the reader. Illustrations should be used wherever possible depicting equipment
connections for test, calibration, patient monitoring and measurements. For large, complex and/or highly versatile equipment capable
of many operating modes and in other instances where the Operation Section is quite large, operational information may be bound
separately in the form of an Operators Manual. The providing of a separate Operators manual does not relieve the supplier of his
responsibility for providing the minimum acceptable maintenance data specified herein. When applicable, flow charts and narrative
descriptions of software shall be provided. If programming is either built-in and/or user modifiable, a complete software listing
shall be supplied. Equipment items with software packages shall also include diagnostic routines and sample outputs. Submission
information shall be given in the Maintenance Section to identify equipment malfunctions that are software related.

 

(f) Section IV, Principles of Operation.
This section shall describe in narrative form the principles of operation of the equipment. Circuitry shall be discussed in sufficient
detail to be understood by technicians and engineers who possess a working knowledge of electronics and a general familiarity with
the overall application of the devices. The circuit descriptions should start at the overall equipment level and proceed to more
detailed circuit descriptions. The overall description shall be keyed to a functional block diagram of the equipment. Circuit descriptions
shall be keyed to schematic diagrams discussed in paragraph (i) below. It is recommended that for complex or special circuits,
simplified schematics should be included in this section.

 

    	 	 	 

     

    

 

(g) Section V, Maintenance. The
maintenance section shall contain a list of recommended test equipment, special tools, preventive maintenance instructions and
corrective information. The list of test equipment shall be that recommended by the manufacturer and shall be designated by manufacturer
and model number. Special tools are those items not commercially available or those that are designed specifically for the equipment
being supplied. Sufficient data will be provided to enable their purchase by the Department of Veterans Affairs. Preventive maintenance
instructions shall consist of those recommended by the manufacturer to preclude unnecessary failures. Procedures and the recommended
frequency of performance shall be included for visual inspection, cleaning, lubricating, mechanical adjustments and circuit calibration.
Corrective maintenance shall consist of the data necessary to troubleshoot and rectify a problem and shall include procedures for
realigning and testing the equipment. Troubleshooting shall include either a list of test points with the applicable voltage levels
or waveforms that would be present under a certain prescribed set of conditions, a troubleshooting chart listing the symptom, probable
cause and remedy, or a narrative containing sufficient data to enable a test technician or electronics engineer to determine and
locate the probable cause of malfunction. Data shall also be provided describing the preferred method of repairing or replacing
discrete components mounted on printed circuit boards or located in areas where special steps must be followed to disassemble the
equipment. Procedures shall be included to realign and test the equipment at the completion of repairs and to restore it to its
original operating condition. These procedures shall be supported by the necessary waveforms and voltage levels, and data for selecting
matched components. Diagrams, either photographic or line, shall show the location of printed circuit board mounted components.

 

(h) Section VI, Replacement Parts List.
The replacement parts list shall list, in alphanumeric order, all electrical/electronic, mechanical and pneumatic components, their
description, value and tolerance, true manufacturer and manufacturers’ part number.

 

(i) Section VII, Drawings. Wiring
and schematic diagrams shall be included. The drawings will depict the circuitry using standard symbols and shall include the reference
designations and component values or type designators. Drawings shall be clear and legible and shall not be engineering or productions
sketches.

 

(End of Clause)

 

C.7 VAR 852.211-73 BRAND NAME OR EQUAL (JAN 2008) 

 

(Note: as used in this clause, the term
 “brand name” includes identification of products by make and model.)

 

(a) If items called for by this invitation
for bids have been identified in the schedule by a “brand name or equal” description, such identification is intended
to be descriptive, but not restrictive, and is to indicate the quality and characteristics of products that will be satisfactory.
Bids offering “equal” products (including products of the brand name manufacturer other than the one described by brand
name) will be considered for award if such products are clearly identified in the bids and are determined by the Government to
meet fully the salient characteristics requirements listed in the invitation.

 

(b) Unless the bidder clearly indicates
in the bid that the bidder is offering an “equal” product, the bid shall be considered as offering a brand name product
referenced in the invitation for bids.

 

(c)(1) If the bidder proposes to furnish
an “equal” product, the brand name, if any, of the product to be furnished shall be inserted in the space provided
in the invitation for bids, or such product shall be otherwise clearly identified in the bid. The evaluation of bids and the determination
as to equality of the product offered shall be the responsibility of the Government and will be based on information furnished
by the bidder or identified in his/her bid as well as other information reasonably available to the purchasing activity. CAUTION
TO BIDDERS. The purchasing activity is not responsible for locating or securing any information that is not identified in the bid
and reasonably available to the purchasing activity. Accordingly, to insure that sufficient information is available, the bidder
must furnish as a part of his/her bid all descriptive material (such as cuts, illustrations, drawings or other information) necessary
for the purchasing activity to:

 

(i) Determine whether the product offered
meets the salient characteristics requirement of the Invitation for Bids, and

 

(ii) Establish exactly what the bidder
proposes to furnish and what the Government would be binding itself to purchase by making an award. The information furnished may
include specific references to information previously furnished or to information otherwise available to the purchasing activity.

 

    	 	 	 

     

    

 

(2) If the bidder proposes to modify a
product so as to make it conform to the requirements of the Invitation for Bids, he/she shall:

 

(i) Include in his/her bid a clear description
of such proposed modifications, and

 

(ii) Clearly mark any descriptive material
to show the proposed modifications.

 

(3) Modifications proposed after bid opening
to make a product conform to a brand name product referenced in the Invitation for Bids will not be considered.

 

(End of Clause)

 

C.8 VAAR 852.237-70 CONTRACTOR
RESPONSIBILITIES (APR. 1984)

 

The contractor shall obtain all necessary
licenses and/or permits required to perform this work. He/she shall take all reasonable precautions necessary to protect persons
and property from injury or damage during the performance of this contract. He/she shall be responsible for any injury to himself/herself,
his/her employees, as well as for any damage to personal or public property that occurs during the performance of this contract
that is caused by his/her employees fault or negligence, and shall maintain personal liability and property damage insurance having
coverage for a limit as required by the laws of the State of AK, WA, OR & ID. Further, it is agreed that any negligence of
the Government, its officers, agents, servants and employees, shall not be the responsibility of the contractor hereunder with
the regard to any claims, loss, damage, injury, and liability resulting there from.

 

(End of Clause)

 

C.9 VAAR 852.246-70 GUARANTEE
(JAN 2008)

 

The contractor guarantees the equipment
against defective material, workmanship and performance for a period of 12 months, said guarantee to run from date of acceptance
of the equipment by the Government. The contractor agrees to furnish, without cost to the Government, replacement of all parts
and material that are found to be defective during the guarantee period. Replacement of material and parts will be furnished to
the Government at the point of installation, if installation is within the continental United States, or f.o.b. the continental
U.S. port to be designated by the contracting officer if installation is outside of the continental United States. Cost of installation
of replacement material and parts shall be borne by the contractor.

 

(End of Clause)

 

C.10 VAAR 852,246-71
INSPECTION (JAN 2008)

 

Rejected goods will be held subject to
contractors order for not more than 15 days, after which the rejected merchandise will be returned to the contractor’s address
at his/her risk and expense. Expenses incident to the examination and testing of materials or supplies that have been rejected
will be charged to the contractor’s account.

 

(End of Clause)

 

    	 	 	 

     

    

 

C.11 Notice: Mandatory Electronic Invoicing

 

VA published the final rule requiring vendors
to submit invoices electronically to the Financial Services Center (FSC) in the November 27, 2012 Federal Register. The rule became
effective December 27, 2012. The rule includes a new contract clause to be inserted in all solicitations and contracts by the contracting
officer (VAAR 852.232-72). Vendors can comply with the rule by using either of the two methods below:

 

1.       The FSC uses a third-party
contractor, OB10, to transition vendors from paper to electronic invoice submission. For information on OB10 electronic invoicing
set-up, vendors should call 877-752-0900, or email USClientServices@ob10.com.

 

2.       A system that conforms
to the X12 electronic data interchange (EDI) format established by the Accredited Standards Center. For FSC e-Invoicing information,
please call 877-353-9791 or email vafsccshd@va.gov.

 

FSC and VA’s Office of Acquisition, Logistics and Construction
(OALC) will assist existing commercial vendors in migrating to the electronic process. Until the transition to electronic format
is complete, FSC will continue to process paper invoices for commercial vendors.

 

The FSC’s electronic invoicing system provides a variety
of flexible solutions for all vendor types, including small businesses, and does not require any vendor transaction fees. More
information on the FSC electronic invoicing process can be found at http://www.fsc.va.gov/einvoice.asp.

 

-----END-----

 

    	 	 	 

     

    

 

PORTIONS
OF THIS AGREEMENT WERE OMITTED AND HAVE BEEN FILED

SEPARATELY WITH
THE SECRETARY OF THE COMMISSION PURSUANT TO AN

APPLICATION
FOR CONFIDENTIAL TREATMENT UNDER RULE 24b-2 OF THE

SECURITIES EXCHANGE ACT OF 1934; [***]
DENOTES OMISSIONS

 

	AMENDMENT OF SOLICITATION/MODIFICATION OF CONTRACT	BPA NO	1 CONTRACT ID CODE	PAGE

1	OF PAGES

1

	2 AMENDMENT/MODIFICATION NUMBER	3 EFFECTIVE DATE	4 REQUISITION PURCHASE REQ NUMBER	5 PROJECT NUMBER (if applicable)
	P00006	08-01-2018	 	 
	6 ISSUED BY 	CODE	003B6B	7 ADMINISTERED BY (If other than Item 6) 	CODE	003B6B
	
         

        Department of Veterans Affairs

        OPAL / National Acquisition Center

        Building 37

        1st Avenue, One Block North of Cermak

        Hines IL 60141
		
         

        Department of Veterans Affairs

        OPAL / National Acquisition Center

        Building 37

        1st Avenue, One Block North of Cermak

        Hines IL 60141
	 
	 	 	 	 	 	 

	8 NAME AND ADDRESS OF CONTRACTOR    (Number, street, county, State and ZIP Code)	x	9A AMENDMENT OF SOLICITATION NUMBER
	ITAMAR MEDICAL, INC.	 	9B DATED (SEE ITEM 11)
	
        3290 Cumberland Club Dr Ste 100

        Atlanta GA 30339
	x	
        10A MODIFICATION OF CONTRACT/ORDER NUMBER

        V797D-30190

	 	 	10B DATED (SEE ITEM 13)
	code 6BU26	FACILITY CODE	 	06-15-2013
	 	 	 	 

	11. THIS ITEM ONLY APPLIES TO AMENDMENTS OF SOLICITATIONS
	
         ̈
        The above numbered solicitation is amended as set forth in Item 14. The hour and date specified for receipt of Offers           ̈ is
        extended,   ̈ is not extended.

            Offers
        must acknowledge receipt of this amendment prior to the hour and date specified in the solicitation or as amended, by one of the
        following methods: (a) By completing Items 8 and 15, and returning _________ copies of the amendment; (b) By acknowledging
        receipt of this amendment on each copy of the offer submitted; or (c) By separate letter or electronic communication which includes
        a reference to the solicitation and amendment numbers. FAILURE OF YOUR ACKNOWLEDGMENT TO BE RECEIVED AT THE PLACE DESIGNATED FOR
        THE RECEIPT OF OFFERS PRIOR TO THE HOUR AND DATE SPECIFIED MAY RESULT IN REJECTION OF YOUR OFFER. If by virtue of this amendment
        you desire to change an offer already submitted, such change may be made by letter or electronic communication, provided each letter
        or electronic communication makes reference to the solicitation and this amendment, and is received prior to the opening hour and
        date specified.

	12 ACCOUNTING AND APPROPRIATION DATA    (If required)
	
        13. THIS ITEM APPLIES ONLY TO MODIFICATIONS
        OF CONTRACTS/ORDERS,

        IT MODIFIES THE CONTRACT/ORDER NO. AS
        DESCRIBED IN ITEM 14.

 

	
        CHECK

        ONE
	A THIS CHANGE ORDER IS ISSUED PURSUANT TO (Specify authority) THE CHANGES SET FORTH IN ITEM 14 ARE MADE IN THE CONTRACT ORDER NO IN ITEM 10A
	 	 
	 	B THE ABOVE NUMBERED CONTRACT/ORDER IS MODIFIED TO REFLECT THE ADMINISTRATIVE CHANGES SET FORTH IN ITEM 14, PURSUANT TO THE AUTHORITY OF FAR 43 103(b)	(such as changes in paying office, appropriation date, etc) 
	x	C THIS SUPPLEMENTAL AGREEMENT IS ENTERED INTO PURSUANT TO AUTHORITY OF 	
        AS1508 Option to Extend the Terms of Contract (MAR 2005)

        52.212-4(c) Changes (JAN 2017)

	 	D. OTHER (Specify type of modification and authority)

	E. IMPORTANT: Contractor    ̈ is not,  x is required to sign this document and return      1        copies to the issuing office.
	14 DESCRIPTION OF AMENDMENT/MODIFICATION   (Organized by UCF section headings including solicitation/contract subject matter where feasible)
	
        65IIA - Medical Equipment and Supplies
        CONTRACT EXTENSION

        This bilateral modification is used to exercise the Government's
        Option to Extend the performance period of the above FSS contract. The contract expiration date is hereby extended to June 14,
        2023. The period is now June 15, 2013 through June 14, 2023. No further extensions will be granted. The 10-year estimated contract
        value has changed from [***] to [***]; an increase of [***]. The Quantity Discount percentages % have changed from [***]%, [***]%,
        and [***]% (with varying thresholds) to NONE. Lastly, the Annual Rebate was changed from [***] to [***]% on all sales made under
        this contract. The annual rebate percentage shall be applied [***] until contract expiration 6/14/2023.

        The contractor is required to update any electronic data systems
        and publish an approved pricelist supplement.

        All other terms and conditions remain unchanged
        and in full effect.

 

    	 	 	 

     

    

 

	Except as provided herein, all terms and conditions of the document referenced in Item 9A or 10A as heretofore changed, remains unchanged and in full force and effect

 

	
        15A NAME AND TITLE OF SIGNER      (Type
        or print)

         

        Roy Arieli - Director of Operations
	
        16A. NAME AND TITLE OF CONTRACTING OFFICER      
        (Type or print)

        Monee A. Robinson

        Contracting Officer

	15B CONTRACTOR/OFFEROR 	15C DATE SIGNED	16B UNITED STATES OF AMERICA  	16C DATE SIGNED
	/s/ Roy Arieli	7/27/2018	BY	/s/ Monee A. Robinson  	7/27/2018
	(Signature of person authorized to sign)	(Signature of Contracting Officer)
	 	 	 	 	 

 

     

     

    

 

PORTIONS
OF THIS AGREEMENT WERE OMITTED AND HAVE BEEN FILED

SEPARATELY WITH
THE SECRETARY OF THE COMMISSION PURSUANT TO AN

APPLICATION
FOR CONFIDENTIAL TREATMENT UNDER RULE 24b-2 OF THE

SECURITIES EXCHANGE ACT OF 1934; [***] DENOTES OMISSIONS

  

		 

 

Product Addition

 

Request for Modification Form

 

VA FSS Commodity Schedules 65 II A, 65 II
C, 65 II F, 65 VA, and 65 VII

 

 

 

Instructions

 

		1.	Do not send requests
directly to your assigned contract specialist. All contract modifications
must be emailed to our central portal at fss.help@va.gov with the following subject line:

"RFM — Contract Number — FSS
Schedule" (e.g. RFM-V797P/D-5555x-65IIA or RFM-36F79718XXXX-65IIA, the number 18 indicates the fiscal year in our new numbering
format). Modification requests that do not include this subject line may be misdirected, resulting in a delay in the review
process.

 

		2.	Unless otherwise directed,
we do NOT accept hard copies of RFMs. If the electronic file is 5mb or larger,
please submit the RFM package on CD to our mailing address at: VA National Acquisition Center, FSS, PO Box 76, Bldg. 37, 1st
Ave. North of Cermak Road, Hines, IL 60141.

 

		3.	Please carefully review this document and submit all required
information, giving attention to notes regarding the applicability of some sections of the document. If all required material
is not received, your Contracting Officer may return your package with no additional action.

 

		4.	The texts of the clauses referenced within this document
are found in Document 04 - Vendor Response Document in each schedule solicitation.

 

		5.	Retain a copy of this RFM for your records.

 

This form is available online: FSS Modification Forms.

 

Additional information on submitting a Request for Modification
package is available online: FSS RFM Process.

 

    
	Revised April 2016	Product Additions – Commodities	Page 1

     

    

 

Contractor
Information

 

	Contractor Name	Itamar Medical, Inc.
	Contract No.	V797D-30190
	RFM Point of Contact	Roy Arieli
	Phone	888-748-2627 ext. 219
	Email	ARoy@itamar-medical.com
	Date Submitted to FSS	9/26/2018

 

Schedule Program

Select the Schedule under which you are
requesting to add products.

	x	65 II A Medical Equipment & Supplies	 ̈	65 II C Dental Equipment & Supplies
	 ̈	65 II F Patient Mobility Devices	 ̈	65 VA X-Ray Equipment & Supplies
	 ̈	65 VII Invitro Diagnostics, Reagents, Test Kits, and Test Sets	 	 

 

Special Item Numbers (SINs)

All Proposed SINs: Identify the SINs under which the proposed
products are classified.

A-50H

 

New SINs: List each new, proposed SIN where
the proposed products fall under a SIN category not already awarded under your FSS contract.

 

Manufacturer/Dealer/Distributor/Reseller Designation

Check all that apply. If your proposed
products include products for which you are the manufacturer as well as products for which you are a dealer/distributor/reseller,
then check both designations below.

	x	My firm is the manufacturer of the proposed products.
	 ̈	My firm is a dealer/distributor of the proposed products.
	 ̈	My firm is a reseller of the proposed products.

 

I-FSS-644 Dealers and Suppliers (Oct 1988)

Complete this section only if you are designating
(in the above section) that your company is a non-manufacturer for any of the products proposed under this product addition request.

		 ̈	An authorized Letter of Supply for each manufacturer is
included with this RFM.

 

Note: An authorized Letter of Supply must contain the required
components stated in the solicitation. Please consult the required components list and the sample letter of supply/commitment
contained in Document 04 - Vendor Response Document and on our website at FSS Compliance.

 

    
	Revised April 2016	Product Additions – Commodities	Page 2

     

    

 

Utilization of Dealers/Distributors by Manufacturers

		 ̈	My firm will not be marketing the offered products through
dealers/distributors/specialty distributors.

		x	My firm will be marketing the offered products through
dealers/distributors/specialty distributors, and I have attached the names, addresses, points of contact and any relevant
forms (i.e. ordering forms, prescription referral forms, etc.) for review and approval under this request.

 

Product Information

 

Terms and Conditions

Other than those terms specifically identified below, the contractor
is required to identify any terms for the proposed items that may differ from the terms already awarded under the current FSS contract.
This includes such terms as warranty, return goods policy, minimum order, quantity discount, etc. Provide attachments as necessary.

For the new proposed item called the WatchPat 200 trade-in,
Itamar will accept a Government Agency trading in any sleep testing device of any other company.

 

52.215-6 Place of Performance

As applicable, please complete the table
below with information regarding each place of performance for product manufacturing, component material manufacturing,
and the sterilization location. Add additional rows or provide an attachment, as necessary.

 

	Name And Address Of Place Of Performance (Street 

Address, City, State, County, Zip Code)	 	Name And Address Of Owner And Operator Of The 

Plant Or Facility If Other Than Offeror Or Respondent
	 	 	 
	Itamar Medical Ltd.

9 Halamish Street,

PO Box 3579

Caerarea, 3088900 Israel	 	 

 

C-FSS-427 ANSI Standards

NOTE: This section is ONLY to be
completed by schedule 65 II F. Information on ANSI standards may be obtained from the American National Standards Institute,
Inc., 11 West 42nd Street, 13th Floor, New York, NY 10036 (Tel: (212) 642-4900).

		 ̈	I represent that all products offered under this modification
request meet the requirements set forth in the ANSI/RESNA Standards, as applicable.

 

    
	Revised April 2016	Product Additions – Commodities	Page 3

     

    

 

552.211-78 Commercial Delivery Schedule (Multiple Award Schedule)

Answer the below questions relative to
the products offered under this request. See the full text of this clause in the solicitation for information on the Government's
stated delivery time.

	Standard delivery	x	is /	 ̈	is not the same as initial contract award.
	Expedited Delivery	x	is /	 ̈	is not the same as initial contract award.

If delivery terms for the proposed products
are different than the initial contract award, complete the table below. Add additional rows or provide an attachment, as necessary.

 

	 	 	Standard	 	Expedited
	Item or SIN Category	 	 	 	 
	Commercial Delivery Terms (days)	 	 	 	 
	Proposed Delivery Time to the Government (days)	 	 	 	 

 

52.223-3 Hazardous Material Identification and Material Safety
Data

NOTE: This section is does NOT apply to schedule 65IIF.
List any hazardous material to be delivered under this contract modification. The hazardous material shall be properly identified
and include any applicable identification number, such as National Stock Number or Special Item Number. Add additional rows or
provide an attachment, as necessary.

		x	Products contain no hazardous materials

		 ̈	Products contain hazardous materials identified below,
and I am providing a copy of each Material Safety Data Sheet.

 

	Material	 	Identification Number
	 	 	 
	 	 	 
	 	 	 

 

C-FSS-411 Fire or Casualty Hazards, or Safety or Health Requirements

NOTE: This section is does NOT apply
to schedule 65 VII. Identify in the spaces below whether any products offered involve fire or casualty hazards or safety
or health requirements and if so, identify which standard(s) applies Add additional rows or provide an attachment, as necessary.

		x	There are no nationally recognized safety standards applicable
to any of the offered products.

		 ̈	There are nationally recognized safety standards applicable
to offered products as follows:

 

	Product	 	Standard
	 	 	 
	 	 	 
	 	 	 

 

    
	Revised April 2016	Product Additions – Commodities	Page 4

     

    

 

Commercial Sales Practice Format

Provide the following information for each proposed SIN (or
group of SINs or SubSIN for which the information is the same). Add additional rows or provide an attachment, as necessary. 

 

Notes:
The Contracting Officer may request additional information, such as commercial sales practices, copies of invoices, line item sales,
etc., for verification of pricing, sales, and other data related to the proposed supplies or services in order to determine the
reasonableness of price(s).

 

Sales to a Government prime vendor that are ultimately shipped
to a Federal Government activity qualify as FSS sales, not commercial sales; therefore, these sales will not be considered for
the purposes of determining significant commercial sales. DAPA sales are only excluded from FSS sales when filing the quarterly
Report of Sales and remitting IFF.

 

For the purposes of this document, the terms "commercial"
and "general public" are synonymous and refer to any non-federal government entity.

 

(1) Commercial Sales Note:
This section is to be completed for all product additions. 

		 ̈	My firm has previous commercial sales for offered
products.

		 ̈	My firm does not have previous commercial
sales for offered products.

 

	
        SIN

        (List

        each

        SIN)
	 	Sales to General Public: Provide
    the dollar value of sales of the offered product(s) to the general public at or based on an established catalog
    or market price during the previous 12-month period, or your firm's last fiscal year. In the event that a dollar value is
    not an appropriate measure of the sales, provide and describe your own measure of the sales of the item(s) (e.g. sales in
    terms of units sold).	 	
        Time Frame

        State beginning and ending of the 12 month
        period (e.g. 1/1/15 -12/31/15).

	 	 	 	 	 
	 	 	 	 	 
	 	 	 	 	 
	 	 	 	 	 
	 	 	 	 	 
	 	 	 	 	 

 

(2) Government Sales Note: This section is to be completed
for all product additions.

		 ̈	My firm has previous sales to the Federal government
for offered products.

		 ̈	My firm does not have previous sales
to the Federal government for offered products.

 

	
        SIN

        (List

        each

        SIN)
	 	Sales to Federal Government: Provide
    the dollar value of projected annual sales of the offered product(s) to the Government under this modification
    request. If you currently hold a Federal Supply Schedule contract for the offered SIN, then the total projected annual sales
    should be based on your most recent 12-month of contract sales.	 	
        Time Frame

        State beginning and ending of the 12 month
        period (e.g. 1/1/15 -12/31/15).

	 	 	 	 	 
	 	 	 	 	 
	 	 	 	 	 
	 	 	 	 	 
	 	 	 	 	 

 

    
	Revised April 2016	Product Additions – Commodities	Page 5

     

    

 

How was this government sales estimate calculated?
Based on your firm's sales to the Federal marketplace (on contract or open market)? Based on a percentage of your commercial sales?
Please provide specific rationale in your response (e.g. "Based on 2% of commercial sales of $5 million" or "Based
on actual, open market Federal Government sales").

 

		(3)	Based on your written discounting policies (standard commercial
sales practices in the event you do not have written discounting policies), are the discounts and any concessions which you offer
the Government equal to or better than your best price (discount and concessions in any combination) offered to any customer acquiring
the same items regardless of quantity or terms and conditions?

YES  ̈ NO  ̈

NOTE: If you answer NO to this question,
on an attachment provide an explanation of why the net prices, terms and conditions offered to the Government are not equal to
or better than those offered to any customer acquiring the same products. Please provide copies of your current commercial agreements
or extract of your salient terms and conditions if not offering MFC pricing to the Government.

 

	(4)	(a)	Based on your written discounting policies (standard commercial
sales practices in the event you do not have written discounting policies), provide information as requested for each SIN (or
group of SINs for which the information is the same) in accordance with the instructions at Figure 515.4-2, provided in solicitation
Document 05 – Commercial Sales Practice Format. The information should be provided in the chart below or in an equivalent format
developed by the offeror. Rows should be added to accommodate as many customers as required.

 

	Column 1—

Customer	 	Column 2—

Discount	 	Column 3—

Quantity/Volume	 	Column 4—

FOB Term	 	Column 5—

Concessions
	 	 	 	 	 	 	 	 	 

NOTE: The above chart (Figure
515.4-2) must be completed in the Excel spreadsheet developed for this Request for Modification Form.

 

		(b)	Do any deviations from
your written policies or standard commercial sales practices disclosed in the above chart ever result in better discounts (lower
prices) or concessions than indicated? YES  ̈ NO  ̈.
If YES, explain deviations in accordance with the instructions at Figure 515.4-2, provided in
solicitation Document 05  – Commercial Sales Practice Format.

NOTE: If you answer YES to this question, on an
attachment provide an explanation of the circumstances under which you deviate from your written policies or standard commercial
sales practices disclosed in the chart on the Commercial Sales Practices Format and explain how often they occur. Your explanation
should include a discussion of situations that lead to deviations from standard practice, an explanation of how often they occur,
and the controls you employ to assure the integrity of your pricing. Examples of typical deviations may include, but are not limited
to, one time goodwill discounts to charity organizations or to compensate an otherwise disgruntled customer; a limited sale of
obsolete or damaged goods; the sale of sample goods to a new customer; or the sales of prototype goods for testing purposes.

 

    
	Revised April 2016	Product Additions – Commodities	Page 6

     

    

 

		(5)	If you are a dealer/reseller without significant sales
to the general public, you should provide manufacturers' information required by paragraphs (1) through (4) above for each item/SIN
offered, if the manufacturer's sales under any resulting contract are expected to exceed $500,000. You must also obtain written
authorization from the manufacturer(s) for Government access, at any time before award or before agreeing to a modification, to
the manufacturer's sales records for the purpose of verifying the information submitted by the manufacturer. The information is
required in order to enable the Government to make a determination that the offered price is fair and reasonable. To expedite
the review and processing of offers, you should advise the manufacturer(s) of this requirement. The contracting officer may require
the information be submitted on electronic media with commercially available spreadsheet(s). The information may be provided by
the manufacturer directly to the Government. If the manufacturer's item(s) is being offered by multiple dealers/resellers, only
one copy of the requested information should be submitted to the Government. In addition, you must submit the following information
along with a listing of contact information regarding each of the manufacturers whose products and/or services are included in
the offer (include the manufacturer's name, address, the manufacturer's contact point, telephone number, and FAX number) for each
model offered by SIN:

		(a)	Manufacturer's Name

		(b)	Manufacturer's Part Number

		(c)	Dealer's/Reseller's Part Number

		(d)	Product Description

		(e)	Manufacturer's List Price

		(f)	Dealer's/Reseller's percentage discount from List
Price or net prices

 

NOTE: Section (5) is to be
completed by dealers/resellers for product additions when both of the following apply:

(1)  The
contractor does not have "significant sales" to the general public for the offered items, AND

(2)  The
total value of the manufacturer's sales by the contractor for the proposed products is expected to exceed $500,000 for the remainder
of the contract term. This information should be provided in the Dealer/Reseller tab on the proposed pricing spreadsheet included
within this modification package.

 

Commercial Pricelist:

		x	I have included a copy of the commercial pricelist upon
which the proposed pricing discount to the Government is predicated. The title and effective date of the pricelist is as follows:

Commercial Modifications Price List 8.28.2018

 

		 ̈	I have included a verbatim extract of the commercial pricelist
upon which the proposed pricing discount to the Government is predicated. The title and effective date of the pricelist is as
follows:

 

Tracking Customer (TC)

Note: Your spreadsheet must contain line item specific Tracking
Customer names. 

		 ̈	The currently awarded tracking customer/category of customers
under this contract applies to the products offered under this modification request. The tracking customer/category of customers
is

 

		x	The proposed tracking customer/category of customers for
the products offered under this request for modification is/are different than that awarded under the current contract. The proposed
tracking customer/category of customers is/are

[***]

 

The rationale for the above-listed tracking customer(s) is as
follows (Provide attachments as necessary):

Sales of these products to [***] are the most similar
in terms of quantities ordered.

 

    
	Revised April 2016	Product Additions – Commodities	Page 7

     

    

 

RFM Verification

 

		x	I verify that all of the information supplied in this request
is current, accurate, and complete.

		x	I verify that the products offered are not replacements
for previously deleted products with a lower cost.

		x	I verify that each end product offered is manufactured
in the United States or other designated country. View a complete listing of designated countries online at: Trade Agreements
Acts (TAA). Offered products that are end products of countries other than the United States or identified designated countries
will not be considered for award.

		x	I verify that the signatory of this document is an authorized
signatory for the company as provided for under the current contract.

		x	have provided
a copy of the most recent Signatory Authority Form previously incorporated into my contract
upon contract award or via modification.

		x	I agree to provide the Contracting Officer with any additional
information, such as commercial sales practices, copies of invoices, line item sales, etc., requested by the Contracting Officer
for verification of pricing, sales, and other data related to the proposed supplies or services in order to determine the reasonableness
of price(s).

 

Disclaimer: Except as provided herein,
all terms and conditions of the subject VA Federal Supply Schedule contract, remain unchanged and in full force and effect.

 

Roy Arieli, Director of Operations

Printed name and title of authorized
representative

 

	/s/
    Roy Arieli	 	9/25/2018
	Signature of authorized representative	 	Date

 

    
	Revised April 2016	Product Additions – Commodities	Page 8

     

    

 

ATTACHMENT 1

 

ITAMAR MEDICAL, INC.

 

PRODUCT ADDITION - REQUEST
FOR MODIFICATION FORM

 

Utilization of Dealers/Distributors by Manufacturers

		 ̈	My firm will not be marketing the offered products through
dealers/distributors/specialty distributors.

		x	My firm will be marketing the offered products through
dealers/distributors/specialty distributors, and I have attached the names, addresses, points of contact and any relevant
forms (i.e. ordering forms, prescription referral forms, etc.) for review and approval under this request.

 

Gary Skura -Veterans Healthcare Supply Solutions
(VHSS)

13949 Alvarez Road

Suite 300

Jacksonville, FL 32218

(904) 638-5519

gskura@vhss1.com

 

     

     

    

 

PORTIONS
OF THIS EXHIBIT WERE OMITTED AND HAVE BEEN FILED

SEPARATELY WITH
THE SECRETARY OF THE COMMISSION PURSUANT TO AN

APPLICATION
FOR CONFIDENTIAL TREATMENT UNDER RULE 24b-2 OF THE

SECURITIES EXCHANGE ACT OF 1934; [***] DENOTES OMISSIONS

 

	Product Code	 	SIN	 	VA Product

Code	 	Product Name	 	List Price as of

September 25, 2018
	AC2000400	 	A-50H	 	AC20004XX	 	SBP Sensor for WatchPAT	 	[***]
	AC3000300	 	A-50H	 	AC30003XX	 	Central Plus Add-On Kit with RESBP US	 	[***]
	AC3000100	 	A-50H	 	AC30001XX	 	Central Plus Sensor Replacement US	 	[***]
	AC2000100	 	A-50H	 	AC2000110	 	Adhesive Set for SBP Sensor	 	[***]
	CS2110500	 	A-50H	 	CS2110500	 	WatchPAT 200 Trade In	 	[***]Exhibit 4.11

 

 

[INFORMAL ENGLISH TRANSLATION]

 

Date: March 29, 2017

 

Name of the customer:     Itamar
Medical Ltd. (hereinafter: the “Borrower” or the “Company” or the “Customer”)

 

Company No. 512434218

 

Address:       9 Halamish
Street, Caesarea Zip code 3088900

 

Account number:     250888 in the
Orot Mall Branch (hereinafter: the “Account”)

 

To: Mizrahi Tefahot Bank Ltd. (hereinafter: the
 “Bank”)

 

To Whom It May Concern:

 

Re: Line of Credit

 

We are setting forth in writing the agreements
reached between us in connection with the Credit Limit and the loans made available to the Company, from time to time, in reliance
on this Agreement and in reliance of a specific credit agreement and/or specific loan agreement that will be submitted to you in
the future, from time to time, in reliance on this Framework Agreement. In addition to the provisions of this Agreement, the terms
of the Line of Credit and all of the loans that will be provided to the Company, whether from the framework or long-term (hereinafter:
the “Credit”), shall be in accordance with and subject to the “Account Opening Application” and/or
 “Account Changes” and “Account Management Packet” and “Credit Packet for a Business Customer,”
and all of the appendices and amendments in which we have engaged with the Bank, as well as subject to any specific credit / loan
agreement or otherwise, between the Company and the Bank (hereinafter: the “Credit Documents”), and all of the
provisions of the Credit Documents and all of the terms thereof shall apply and be binding with respect to the credit that will
be provided to the Company by you.

 

     

     

    

 

		1.	Types of credit:

 

The amount of the credit that
will be provided pursuant to this Agreement: up to a sum of USD 10,000,000 (hereinafter: the “Credit Amount”).

 

The Line of Credit and the
Credit will be provided and may be utilized by the Company as of the date on which all of the preconditions and general terms as
set forth in Section 5 below are satisfied (hereinafter: the “Preconditions”) and subject to the Bank’s
signature on this Agreement.

 

All of the Credit Amounts that
were provided and/or will be provided to the Company shall be repaid in full pursuant to the agreements set forth in the documents
signed and/or that will be signed by the Company in connection with the provision of the same Credit, and subject to the terms
of this Agreement.

 

		2.	The Lender- Mizrahi Tefahot Bank
Ltd. (hereinafter: the “Bank”)

 

		3.	The Borrower- Itamar Medical Ltd., Company No. 512434218 (hereinafter: the “Borrower”
or the “Company”)

 

		4.	Types of credit:

 

		4.1.	Long-term loan -

 

		4.1.1.	A loan in the amount of USD 6,000,000 may be taken, in whole or in part, at once or in installments,
provided that no withdrawal shall be less than USD 2,000,000, by no later than February 28, 2018. The Borrower’s notice
of its intent to withdraw any loan as stated above will be provided to the Bank in writing no later than two (2) business days
prior to the date of the execution of the loan and will include the date requested for the provision thereof as well as the amount
of the loan. The Bank will prepare the relevant loan agreement for the Borrower’s signatures, including all of the details
of the Loan and the relevant interest, as well as the other documents customary at the Bank.

 

It is agreed
that in addition to the Preconditions, a precondition for the provision of the long-term loan is that the Borrower will declare
in writing, upon the provision of the loan, that no adverse change has occurred thereto (excluding a negligible change) and that
no default event has occurred.

 

    	 	2	 

     

    

 

“Default
Event” - Any of the events or causes which, upon their occurrence, the Bank may call for immediate payment the credit
or any part thereof extended under any of the Credit Documents. For the avoidance of doubt, the provision of a curing period, if
provided regarding a Default Event, does not postpone the date or the occurrence of the Default Event, and the Default Event will
be considered to be as such as of the occurrence of the circumstances that form it prior to the passage of the curing period, and
regardless of the passage of any other time.

 

		4.1.2	The annual interest rate for the long-term loan - quarterly Libor + 5.5%.

 

		4.1.3.	The principal of the loan and the interest for the same will be repaid in 12 consecutive quarterly
payments, as of the end of three months from the date on which the long-term loan was provided.

 

		4.1.4.	The fee for the execution of a payment on the date of the provision of the long-term loan will
be in accordance with the Bank’s fee schedule at the time.

 

		4.2.	Credit limit to finance customer debt -

 

		4.2.1	The Loans Framework for financing customer debt in the amount of up to USD 4,000,000 (the “Line
of Credit for Financing Customer Debt” or the “Loan for Financing Customer Debt”) will be in force
and may be utilized subject to the provisions of Section 1 above, by March 25, 2018 (hereinafter: the “Expiration of the
Line of Credit”). Any loan from the aforesaid framework will be calculated and provided pursuant to the following aggregate
rules and conditions:

 

		1)	Invoices for payment that are not yet paid, which are issued by the Borrower and/or the US Subsidiary
Itamar Medical Inc. (hereinafter: the “US Subsidiary”) and/or I.M.E. 2016 B.V. (hereinafter: the “Dutch
Subsidiary”) to their customers, will be financed at a rate of no more than 80% of the amount of the same invoices
(for each invoice).

 

		2)	Invoices will be financed that are payable no later than 90 days from the Reporting Date, as set
forth in Section 4.2.3 below, and in any case no later than the Expiration of the Line of Credit. Invoices in arrears shall not
be financed, excluding invoices that are in arrears of up to 60 days on the date of the provision of the loan (hereinafter: “Invoices
in Arrears”), and provided that the rate of the Invoices in Arrears does not exceed 10% of the total Loans for Financing
Customer Debt. It is clarified that in transactions in installments, the payment date is the payment date of each payment. Additionally,
deferred income as well as doubtful debts will be offset from the balance of the invoices.

 

    	 	3	 

     

    

 

		3)	The exposure vis-a-vis each individual customer (as calculated pursuant to this section) will not
exceed 20% of the total Credit Limit for Financing Customer Debt.

 

The amount of the loan calculated
in accordance with the rules above will be hereinafter: the “Derived Amount.”

 

		4.2.2	Payment date of the Loans for Financing Customer Debt - the payment date of each Loan for
Financing Customer Debt will not exceed 3 months from the date on which it is provided, with the final and absolute payment date
of the loans provided being the expiration of the framework.

 

		4.2.3	Reporting - The Borrower will provide the Bank, no later than 12 days from the end of each
calendar month, with a report including the details of the invoices as of the last day of the previous calendar month, which is
not yet paid by the reporting date, as well as the calculation of the Derived Amount. The reporting will be made in the form customary
at the Bank as agreed upon by the parties (hereinafter: the “Monthly Invoices Report”).

 

Additionally, together with
the transfer of the unpaid invoices report, the Borrower will also provide a collection report regarding all of the invoices that
were financed, which details the amounts collected in the previous month and the invoices that were paid.

 

The reports will be signed
by the CEO of the Company or its CFO.

 

It is agreed that the Bank
may, at its sole discretion, demand the presentation of the invoices set forth in the Report, in whole or in part.

 

The Bank may examine the calculation
of the Derived Amount as well as disqualify any of the customers and/or invoices set forth in the report.

 

    	 	4	 

     

    

 

		4.2.4	The adjustment of the balance amount of the Loans for Financing Customer Debt to the Derived Amount
will be made within five days from the date of the provision of the report. The adjustment of the balance of the Loans for Financing
Customer Debt will take place by the provision of Loans for Financing Customer Debt or the early repayment thereof. It is clarified
that the Bank will not be required to provide Loans for Financing Customer Debt from the Line of Credit unless it has approved
the debtor customers and the calculation of the Derived Amount, at its discretion.

 

		4.2.5	The Borrower shall sign all of the documents required by the Bank for the execution of the provisions
of this section.

 

		4.2.6	The interest rate for the Loans for Financing Customer Debt - for each Loan for Financing
Customer Debt, the Borrower will pay the Bank variable annual interest at a rate of monthly Libor + 4.25%. The interest
for the Loan for Financing Customer Debt will be repaid on a monthly basis (or based on the term of the Loan for Financing Customer
Debt, as the case may be).

 

		4.3	Fees

 

		4.3.1.	For the Credit Limit for Financing Customer Debt and the
long-term loan, the account will be charged a credit allocation fee at a rate of 0.6% per year, for the entire Credit Amount,
as defined above, as of the signing date of this Agreement. The credit allocation fee shall be calculated daily and collected
on a quarterly basis, at the beginning of each calendar quarter, for the preceding quarter.

 

For the same
part of the framework that was actually utilized by the Borrower, the Borrower will receive a full reduction from the credit allocation
fee set forth above. The calculation will take place regarding any credit provided, as of the date on which it is actually provided,
for the unused balance.

 

The credit allocation fee as
set forth above does not constitute a substitute for the ordinary fees customary at the Bank.

 

		4.4	All of the additional conditions in connection with the
credit that will be provided to the Borrower, insofar as they are not provided in this Agreement, including interest rates, payment
dates, fees and other payments, will be as agreed upon and/or will be agreed upon by the Bank and the Borrower.

 

    	 	5	 

     

    

 

		5.	Preliminary and general terms:

 

Any provision of any credit
and/or its continued provision will be subject to the fulfillment of all of the following conditions:

 

		5.1	The Borrower has opened account number 250888 at the Orot Mall branch (438) of the Bank (hereinafter: the “Account”).

 

The Borrower above has executed
the customary Credit Documents at the Bank as well as the relevant documents required for the requested activity and/or credit
and provided all of the minutes and attorney verifications as customary at the Bank.

 

		5.2	The Borrower has provided the Bank with all of the following sureties, signed a bond or pledge
deed for the same in the form customary in the Bank, and provided all of the documents, minutes, and attorney verifications as
customary at the Bank:

 

		5.2.1	A first-ranked floating charge, unlimited in amount, on all of the property, funds, rights and
assets of any type or kind of the Borrower, and a first-ranked fixed charge, unlimited in amount, on the intellectual property
of the Borrower, on the goodwill, documents and negotiable papers, on its bank account, and its holdings in the US Subsidiary and
the Dutch Subsidiary, all as set forth in the bond, in the form agreed upon by the parties.

 

A first-ranked
fixed pledge, unlimited in amount, on all of the rights to receive funds from customers of the Borrower, as set forth in the list
that will be attached to the bond.

 

		5.2.2	A first-ranked pledge for the benefit of the Bank, unlimited in amount, on all of the assets and
property of the US Subsidiary (including its customers). The Borrower has provided the Bank with a legal opinion in the form customary
at the Bank, based on which a charge on the assets of the US Subsidiary and is shares is valid vis-a-vis any third party, as well
as confirmations of recordation of the charges in the United States. The Borrower and the US Subsidiary will make efforts to update
the registered charge, such that it will remain in force until the absolute and final clearance of the debts and liabilities of
the Borrower to the Bank.

 

		5.2.3	The Dutch Subsidiary will sign a “negative charge” document in the form agreed upon
by the parties.

 

		5.2.4	The lists of intellectual property and customers of the Borrower and the US Subsidiary as set forth
above include the intellectual property of the companies as well as the lists of their customers on the signing date of the charge
documents above. The companies undertake to update the lists on a biannual basis, to provide the updated lists to the Bank, and
to update the pledge documents accordingly.

 

    	 	6	 

     

    

 

		5.3	The Borrower and the US Subsidiary will sign and provide the Bank with any document required by the competent authorities for
the fulfillment of their undertakings in accordance with the provisions of this section.

 

		5.4	The Borrower will deposit USD 4,000,000 in the Account, as set forth in Section 8 below.

 

		5.5	The Borrower will sign an options agreement for the Bank in the form agreed upon by the parties (hereinafter: the “Options
Agreement”) and provide, for the same purpose, all of the confirmations required, including a legal opinion.

 

The basic principles in the Options
Agreement -

 

The Borrower shall grant the Bank
798,088 nonnegotiable options for the acquisition of ordinary shares of the Company, at an exercise price of NIS 1.36 per share.
Duration of the option: four years from the date of the granting of the options.

 

It is clarified that the conditions
set forth in the Options Agreement are binding vis-a-vis the Borrower for all intents and purposes.

 

		6.	The Borrower and the US Subsidiary hereby assign to the
Bank all of their rights, existing and future, for the receipt of funds from their customers, existing and future. Additionally,
the Borrower undertakes to act in order for all of the direct payments of its customers, as well as all of the payments owed thereto
from the subsidiaries, will be made solely to the bank account set forth in Section 5.1 above, and the same Account will be listed
in all of the accounts for payment provided thereby.

 

		7.	The subsidiaries undertake to transfer funds to the Borrower’s Account, at the first request
of the Bank, to cover the credit provided in the Credit Limit for Financing Customer Debt.

 

		8.	The Borrower undertakes that as of the date of the withdrawal of the credit, in whole or in part
(whether a withdrawal of a loan from the Credit Limit for Financing Customer Debt or a withdrawal of a long-term loan), the balance
of the cash in the Bank’s Account will not be less at any time than USD 4,000,000 (hereinafter: the “Deposited Amount”).
It is agreed that a temporary reduction in the amount, which will be coordinated with the Bank in advance and in writing, up to
a sum of USD 3,600,000, will not constitute grounds to call the credit due for immediate repayment, provided that the Borrower
has deposited, within 30 days, in its Account, the amount required such that the Borrower’s cash balance in the Account is
at least USD 4,000,000. It shall be clarified that this amount will not exceed the balance of the long-term loans and the Loans
for Financing Customer Debt.

 

    	 	7	 

     

    

 

		9.	The Borrower undertakes to ensure that no charges are created on the assets of the subsidiaries
(other than as set forth in this Agreement), and the Borrower further undertakes that it will not change the pricing of the transactions
between it and the subsidiaries, as it may be, on the signing date of this Agreement without obtaining the Bank’s prior written
consent.

 

		10.	Without derogating from the undertaking of the Borrower to provide information and documents, as
agreed upon by the Bank and the Borrower, the Borrower undertakes to provide the Bank, on a quarterly basis, with its consolidated
financial statements and those of its subsidiaries, audited (regarding the annual financial statements) and reviewed (regarding
the quarterly financial statements) by an accountant, as the case may be, as well as any business and financial information, at
the request of the Bank. It is emphasized that the reporting on MAGNA of the annual or quarterly financial statements shall be
considered to be the delivery of the information to the Bank.

 

		11.	It is hereby explicitly clarified that the actual provision of the loans and/or credit, pursuant
to this Agreement, is contingent on the fulfillment of all of the conditions set forth in this Agreement above, and that the loans
and/or credit will be provided based on the agreements set forth in the terms of the Credit Documents, subject to the provisions
of this Agreement. The provision of the credit is also contingent on there being no legal impediment for the same, and that the
same does not conflict with the provisions of the law and/or the instructions of the Supervisor of Banks (including the provisions
of Proper Banking Procedure No. 311 “Minimum Capital Ratio” and Procedure no. 313 - “Restrictions on Companies
of a Borrower and Group of Borrowers” and/or any other provisions that shall replace them) and provided that the granting
of the credit does not cause a deviation from the liability restrictions of a borrower / group of borrowers. As of the date of
the execution of this Agreement, the Bank is not aware of any such impediment or limitation.

 

    	 	8	 

     

    

 

		12.	A breach of any of the undertakings set forth in this document shall be deemed grounds to call for
immediate repayment of the credit in its entirety and will not permit the provision of loans from the Credit Limit for Financing
Customer Debt and/or the provision of the long-term loan, as the case may be. For the avoidance of doubt, the above shall be in
addition to the grounds for calling the credit for immediate repayment, as set forth in the other documents signed and/or that
will be signed by the Borrower.

 

		13.	The Bank may, at any time and from time to time, in any case in which the Bank may perceive an inability
to collect the credit and/or if an adverse change occurs to the Borrower’s solvency and/or a materially adverse change to
the financial or business state thereof and/or if there are grounds to call the credit for immediate repayment and/or in the event
that any of the other conditions occur as a result of changes under law, which require a reduction and/or cancellation and/or delay
of the Line of Credit immediately, while providing notice to the Borrower to reduce and/or cancel the Line of Credit that is not
utilized and/or postpone the provision of any loan, in whole or in part, and/or to delay it.

 

		14.	For the avoidance of doubt, the above was not intended to grant rights to any third party, and the
same will not constitute a representation on which any third party may rely.

 

		15.	All of the appendices to this Agreement constitute integral parts hereof and all of the provisions
of the appendices will supplement and be in addition to the provisions of this Agreement. In any case of a conflict between the
provisions of this Agreement and the provisions of the Credit Documents or the appendices, the provisions of this Agreement shall
prevail, unless expressly agreed otherwise in any of the appendices or Credit Documents. In any other case, the provisions of this
Agreement and the provisions of the Credit Documents and the appendices thereto shall be deemed supplementary to each other.

 

    	 	9	 

     

    

 

		16.	The Borrower will pay the Bank, upon the signing of this Agreement, a sum of USD 30,000, for the drafting
of the documents. This fee is in addition to the fees customary in the Account.

 

		17.	In the event that the Preconditions are not fulfilled by May 31, 2017, this Agreement will be
void and the Company or the Bank will not have any obligation (excluding an undertaking to pay the payments that the Borrower has
undertaken in full). In the event that more time is required for the registration of the charges overseas, the Bank will provide
the Company with a 30-day extension for the aforesaid registration.

 

	 	Respectfully,
	 	 
	 	/s/ Itamar Medical
    Ltd.
	 	Itamar Medical
    Ltd.

 

We confirm that we have read the foregoing
document and we agree to its contents and undertake to act accordingly.

 

/s/ Itamar Medical Inc.

Itamar Medical Inc.

 

/s/ I.M.E. 2016 B.V.

I.M.E. 2016 B.V.

 

 

We confirm the above

 

________________________ 

Mizrahi Tefahot Bank Ltd.

 

    	 	10	 

     

    

 

[INFORMAL ENGLISH TRANSLATION]

 

Name of
the customer:     Itamar Medical Ltd., Company No. 512434218

 

Address:
      9 Halamish Street, Industrial Area of North Caesarea 

 

Date: January 29, 2008

 

To

Mizrahi Tefahot Bank Ltd.

 

To Whom It May Concern:

 

Re: Amendment No. 1 to the Credit
Facility Agreement dated March 29, 2017 (hereinafter: the “Credit Facility Agreement”)

 

We
set forth in writing the agreements between us in connection with the amendment to the Credit Facility Agreement
between Mizrahi Tefahot Bank Ltd. (the “Bank”) and Itamar Medical Ltd. (the “Borrower”),
as follows:

 

		1.	Section 4.1 of the Credit
Facility Agreement shall be amended
as follows: 

 

		4.1	Facility of the loans

 

		4.1.1	The Bank shall provide
a facility of loans for use as long-term or short-term loans (hereinafter: the “Loans Facility”) in the amount
of USD 6,000,000.

 

The
Loans Facility shall be in effect and may be utilized until February 28, 2019.

 

It
is agreed that the amount of any long-term shall be at least USD 2,000,000.

 

Where
a long-term loan is provided - the facility amount shall be decreased by the amount of the long-term loan provided.

 

The
Borrower’s notice of its intent to withdraw any loan as stated above will be provided to the Bank in writing no later than
two (2) business days prior to the date of the execution of the loan and shall include the date requested for the provision thereof
as well as the amount of the loan. The Bank shall prepare, for the Borrower’s signatures, the relevant loan agreement including
all of the details of the Loan and the relevant interest, as well as the other documents customary at the Bank.

 

     

     

    

 

		4.1.2	The annual interest rate for each loan (long-term or short-term) - quarterly Libor + 5.5%.

 

		4.1.3	The principal of the long-term loan and the interest for the same shall be repaid in 12
consecutive quarterly payments, as of the end of three months from the date on which the long-term loan was provided.

 

		4.1.4	The manner of repayment of the principal of the short-term loan and the interest for the
same shall be agreed upon by the parties prior to the provision of the short-term loans.

 

		4.1.5	The fee for the execution of a payment on the date of the provisions of any long-term loan
shall be in accordance with the Bank’s rate list at the time.

 

For
the avoidance of doubt, it is clarified that all of the loans above are part of the credit, as defined in the Agreement, and all
of the provisions of the Credit Facility Agreement
in connection with the credit shall apply regarding them as well.

 

		2.	The validity of the
credit limit for financing customer debt shall be extended until January 12, 2019 - Section 4.2.1 will be amended accordingly.

 

		3.	In Section 4.3.1 - The amount of the credit allocation fee shall
be 0.9% instead of 0.6%.

 

		4.	In Section 7 - At the end of the section, the following shall
be added: “The Borrower undertakes to make use of its means of control in the subsidiaries in order to ensure that the funds
are transferred to its account as stated.”

 

		5.	Section 8 shall be amended as follows: 

 

“The
Borrower undertakes that as of the date of the withdrawal of the credit, in whole or in part (whether the withdrawal of a loan
from the credit limit is to finance a customer debt or is a withdrawal from the Loan Facility), the balance of the cash in the
Bank’s account shall not be less at any time than 40% of the amount of the credit actually provided (hereinafter: the ‘Amount
Required for Deposit’).

 

     

     

    

 

It
is agreed that a temporary decrease in an amount up to 10% of the Amount Required for Deposit shall not constitute grounds to call
the credit due for immediate repayment, subject to the fulfillment of the following conditions: 1. The temporary decrease shall
be coordinated with the Bank in advance and in writing, and 2. the Borrower has deposited within 30 days, in its account, the Amount
Required for Deposit such that the balance of the Borrower’s cash in the account will not be less than the Amount Required
for Deposit.”

 

Section
5.4 will be amended accordingly (40% of the utilized credit amount). 

 

		6.	The Borrower declares
and confirms that there has been no detrimental change to its condition, as of the signing date of the Credit Facility Agreement,
and no default event has occurred.

 

“Default
Event” - Any of the events or causes which, upon their occurrence, the Bank may call for immediate payment the credit
or any part thereof extended under any of the Credit Documents. For the avoidance of doubt, the provision of a curing period, if
provided regarding a Default Event, does not postpone the date or the occurrence of the Default Event, and the Default Event will
be considered to be as such as of the occurrence of the circumstances that form it prior to the passage of the curing period, and
regardless of the passage of any other time.

 

		7.	In addition to the preliminary
and general conditions set forth in the Agreement, the Bank’s consent, as set forth above, is contingent on the following
conditions:

 

		a.	The Borrower has provided
the Bank with a document confirming the extension of the validity of the Warrant Document signed for the benefit of the Bank,
in the form attached as Exhibit A.

 

		b.	The parties have signed this Amendment.

 

		8.	For the avoidance of
doubt, it is clarified that excluding the above, no change shall be made to our undertakings toward you under the Agreement. The
collateral that secures our undertakings under the Agreement will continue to apply for all intents and purposes.

 

		9.	The Borrower will pay the Bank a fee for the preparation of
this document in the amount of USD 6,000, which shall be charged to the Borrower’s account. This fee does not replace the
ordinary fees customary at the Bank.

 

     

     

    

 

		10.	This amendment shall take effect subject to the signing thereof
by the Borrower and Itamar Medical Inc. and its return to the Bank by no later than February 10, 2018, and subject to the
Bank’s signature. The Borrower will provide the Bank with I.M.E. 2016 B.V’s signature on this document by no later
than March 1, 2018. 

 

	In witness whereof we have signed below:
	 
	/s/ Itamar Medical Ltd.

 

 To

Mizrahi
Tefahot Bank Ltd.

 

We
confirm that we have read the document above and agree to its contents.

 

	/s/ Itamar Medical Inc. 	 
	 	 
	/s/ I.M.E. 2016 B.V. 	 

 

     

     

    

 

Exhibit
A

 

To

Mizrahi
Tefahot Bank Ltd. (Holder")

 

Dear
Holder,

 

January 29,2018

 

RE: Extension
of Previous Warrant

 

Itamar
Medical Ltd. (hereinafter: the "Company") currently intends to enter
into an amendment to the framework agreement with Holder, under which the existing framework agreement shall be extended, and certain
additional terms shall be amended.

 

In the
framework of the negotiations, and in order to induce Holder to extend the term of the existing framework agreement and to amend
it, Company has agreed to extend the warrant period for all outstanding warrants granted to Holder, as set forth below.

 

In light
of the above, we hereby confirm that, effective as of the date of this letter:

 

The original
Warrant issued to the Holder on May 14, 2017 is hereby extended until May 14, 2022 (clause 3.1 to the Warrant Agreement
will be amended accordingly).

 

All other
terms and conditions of the abovementioned Warrants shall remain unchanged, in full force and effect.

 

	 	Sincerely,
	 	 
	 	/s/ Itamar Medical Ltd.

 

     

     

    

 

[INFORMAL ENGLISH TRANSLATION]

 

Name of the customer: Itamar Medical
Ltd., Company No. 512434218

 

Address:           9
Halamish Street, Caesarea 3098900

 

Date: May 28, 2018

 

To

Mizrahi Tefahot Bank Ltd.

To Whom It May Concern:

 

Re: Amendment No. 2 to the Framework
Agreement dated March 29, 2017 (hereinafter: the “Framework Agreement”)

 

We set forth in writing the agreements
between us in connection with the amendment to the Framework Agreement between Mizrahi Tefahot Bank Ltd. (the “Bank”)
and Itamar Medical Ltd. (the “Borrower”), as follows:

 

		1.	Section 4.2 of the Framework Agreement shall be amended as follows:

 

In Section
4.2.1 in subsection 2, the following paragraph shall be added:

 

“Notwithstanding
the above, it is agreed that the Bank shall provide the Borrower with financing against invoices issued as stated above for transactions
paid by credit card, whose repayment dates exceeds 90 days, under the following conditions:

 

		a.	Transactions shall be financed where the final repayment date does not exceed 12 months from the
date of the report.

 

		b.	The total credit from the credit limit for financing customer debt for credit cards with a repayment
date of 90 days and until the repayment date of 12 months from the reporting date, which will be provided against these invoices,
will not exceed USD 500,000.”

 

In Section
4.2.1 in subsection 3, the following paragraph shall be added:

 

“Notwithstanding
the above, the exposure vis-à-vis the following customers shall not exceed 30% of the credit limit to finance
customer debt - Kaiser Foundation Health Plan, Inc. and its affiliates Department of Veterans Affairs and its affiliates
Philips Respironics GK Japan”

 

		2.	For the avoidance of doubt, it is clarified that excluding the above, no change shall be made to
our undertakings to you under the Agreement. The collateral that secures our undertakings under the Agreement shall continue to
apply for all intents and purposes.

 

     

     

    

 

The Borrower
shall pay the Bank a fee for the preparation of this document in the amount of USD 3,000, which will be charged in the Borrower’s
account. This fee does not replace the ordinary fees customary at the Bank.

 

		3.	This amendment shall take effect subject to the execution hereof by the Borrower and Itamar Medical
Inc. and its return to the Bank by no later than May 31, 2018, and subject to the Bank’s signature. The Borrower shall
provide the Bank with I.M.E. 2016 B.V’s signature on this document by no later than June 7, 2018.

 

In witness whereof we
have signed below:

 

	 	/s/ Itamar Medical Ltd.	 

 

Itamar Medical Ltd.

 

     

     

    

 

[INFORMAL ENGLISH TRANSLATION]

 

Secured Debenture

 

Signed on the 28th of May, 2017

 

By Itamar Medical Ltd., Company No. 5124343218,
of 9 Halamish Street, Caesarea (hereinafter: the “Company”)

 

For the benefit of Mizrahi Tefahot Bank
Ltd. (hereinafter: the “Bank”), pursuant to the incorporation documents of the Company and all of the other
provisions that provide the Company with power in this regard and pursuant to the resolution of the Company’s board of directors.

 

	Whereas	The Company and/or _______ Company No.   (hereinafter: the “Debtors”) have received and/or will receive credit from time to time from the Bank, whether in Israeli currency or any foreign currency, in Israel or outside of Israel, including any revolving credit, temporary credit, non-recurring credit, loan, discounting of deeds, purchase of deeds, brokerage of deeds, overdrafts, provision of guarantee and/or letter of indemnity, opening documentary credit, provision of an extension and various bank leniencies, handling bills of lading, actions with securities, various actions with financial instruments and/or derivatives, service or other payment, provided or that will be provided to a customer or for its deposit, as well as any other transaction or action based on which or following which debts or liabilities will be created or may be created by the Company and/or the Debtors vis-a-vis the Bank, whether as a debtor or guarantor or assignor and/or in another manner, alone or together with others, whether owed or that will be owed, whether they have matured before the engagement under this document or will mature thereafter, whether provided in a special or conditional manner, whether provided directly or indirectly, explicitly or implicitly, as well as other various bank services (hereinafter: all jointly and severally: the “Bank Services”), under the terms agreed upon and/or that will be agreed upon from time to time regarding every Bank Service.
	 	 
	And Whereas	It has been agreed by the Company and the Bank that the Company will secure all of the debts and liabilities of the Company and/or the Debtors to the Bank of any type or kind, whether in Israeli currency or any other currency and of any kind, as set forth below, by way of this Debenture, and in addition to any collateral that is provided and/or will be provided to the Bank.

 

     

     

    

 

Therefore, this Debenture attests to the following:

 

	1.	a.	This Debenture has been issued to secure the full and precise payment of all of the amounts, whether in Israeli shekels or any foreign currency, owed and that will be owed to the Bank by the Company and/or the Debtors in any way, form, manner and for any reason, whether the amounts are owed by the Company and/or the Debtors in connection with the provision of the Bank Services or are not in connection with the same, whether they are owed from the Company and/or the Debtors alone or together with others, whether the Company and/or the Debtors have already undertaken therewith or will undertake therewith in the future, as a Debtor and/or guarantor and/or assignor or otherwise (including liability of the Company and/or the Debtors under the deeds provided or that will be provided to the Bank, whether by the Company and/or the Debtors or by third parties for discounting or security, and/or under any other debt of the Company and/or the Debtors vis-a-vis the Bank), owed and/or that will be owed in the future, which is payable before the exercise of the collateral provided hereby or subsequently, owed absolutely or conditionally, owed directly or indirectly, owed pursuant to the original undertaking of the Company and/or the Debtors or formed in a judgment of a court or otherwise - 

 

		b.	The total amount that we will be required to pay the Bank under this Debenture is unlimited
in amount.

 

All of the expenses and charges
in connection with the preparation of this Debenture and its registration with the appropriate registrar, as well as all of the
expenses involved in the exercise of this Debenture and its realization, including reminders and warnings of arrears, reimbursements
of charges, letters, assessments, insurance, security, maintenance and repair of the Pledged Assets as defined below, notices and
various approvals, attorney fees, legal and execution fees, the appointment of a receiver and/or manager and/or liquidators and
their wages, expenses involved in locating the address of the Company and/or the Debtors, as the case may be, and any other reasonable
expense involved in the exercise of this Debenture and its realization, which the Bank could not prevent using reasonable measures,
will apply to the Company and/or the Debtors, as the case may be, and will be paid by them, together with interest as set forth
in the “Credit to a Business/Private Customer Packet” or at the rate agreed upon in the Provision of Bank Services
Agreement, as of the date of the request and until the full clearance or as determined by the competent judicial authority. This
Debenture will also be used to secure all of the aforesaid amounts in this paragraph, which will be added to the amount of the
Debenture, as defined above in this Section 2, and all of its subsections until the full payment thereof, even if all of the aforesaid
expenses and charges are also secured under this Debenture.

 

     

     

    

 

(All of the amounts above that
are secured under this Debenture will be hereinafter: the “Secured Amounts”).

 

		2.	The Company hereby undertakes to pay the Bank any amount from the Secured Amounts:

 

		a.	On the agreed payment date, if agreed by the Bank and the Company and/or the Debtors that the same
amount will be payable on a specific date.

 

		b.	At the end of seven days from the date on which the Bank’s first written request is sent
to the Company, if no payment date is agreed upon as stated in paragraph (a) above.

 

	3.	a.	Unless the same is explicitly permitted in a specific credit agreement or the “Credit to a Business Customer” packet, the Bank may choose not to accept prepayment of the Secured Amounts or any part thereof, before they are due to be paid, and the Company or any party whose right may be impaired by the granting or realization of this Debenture, will not have a right under Section 13(b) of the Pledge Law, 1967 or any other law.

 

		b.	In any case in which the Company and/or the Debtors do not have the right to repay the Secured
Amounts early under any agreement, administrative instruction from a competent government authority or the law, the Company and/or
the Debtors may do so only subject to the Bank’s prior written consent to the same, and under the conditions set forth in
this regard by the Bank. The Bank may condition its consent on payment of a fee and/or fine and/or any other payment, as well as
determine the date on which the early payment will take place. In the case of early repayment, the interest and/or linkage differentials
and/or exchange rate differentials will be calculated, as the case may be, up to the actual payment date. For the avoidance of
doubt, it is hereby clarified and emphasized that the above does not and will not impair or detract from the Bank’s right
to call for immediate repayment any Secured Amount under the Debenture pursuant to the agreements between the Bank and the Company.

 

     

     

    

 

	4.	a.	The Bank may calculate interest on the Secured Amounts at the rate agreed upon or that will be agreed upon from time to time between it and the Company and/or the Debtors, as the case may be. In cases in which the interest rate is not agreed upon, the Bank may determine the interest rate and inform the Company or Debtors of the same, as the case may be. The Company and/or the Debtors will be charged the aforesaid interest rates and the Bank may attach them to the principal at the end of every three months or at the end of any other period, as determined by the Bank.

 

		b.	In any case of arrears in payment of the Secured Amounts or part thereof, the Secured Amounts will
bear arrears interest in the rate set forth in the Business Credit Booklet or at the rate agreed upon in the Provision of Bank
Services Agreement.

 

		c.	In any case that grants the Bank the right to exercise the collateral under this Debenture, the
Bank may increase the interest rates of the Secured Amounts until the arrears interest rate, as set forth in the Business Credit
Booklet or the rate agreed upon in the Provision of Bank Services Agreement.

 

		5.	To secure the full and precise repayment of all of the Secured Amounts, the Company hereby pledges
to the Bank and its substitutes.

 

		a.	With a first-ranked floating charge, any enterprise, equipment, assets, funds, property and rights,
including their profits, of any type without exception, that the Company has currently and will have in the future, at any time,
in any form and manner, including all of the existing and/or future rights of the Company, for the receipt of funds from its customers
and/or from any other entity, including its insurance rights for them, for all of the above assets and rights, and all of the rights
under the Property Tax and Damages Fund Law, 1961, and any right to damages or indemnification that the Company shall have vis-à-vis
a third party for loss, damage or the expropriation of property or any part thereof (hereinafter: the “Pledged Assets”).

 

     

     

    

 

		b.	A first-ranked fixed pledge and a lien on its goodwill, as it is currently and as it may be at
any time (hereinafter: the “Pledged Goodwill”).

 

		c.	A first-ranked fixed pledge and lien on the equipment, assets and the income from the assets and
their profits, set forth on the list attached to this Debenture, marked “A” and constituting an integral
part hereof (hereinafter: the “Fixed and Pledged Property”).

 

		d.	A first-ranking fixed pledge on all of the rights, including the intellectual property rights,
of the Company, as set forth in Appendix A1 of the Debentures and including as set forth in Appendix A2 (hereinafter:
the “Pledged Intellectual Property Rights”).

 

		e.	A first-ranking fixed pledge of all of the Company’s rights to receive funds as set forth
in Appendix B of the Debenture. (hereinafter: the “Right to Receive Funds”).

 

		f.	A first-ranked fixed pledge on the Company’s holdings in Itamar Medical Inc. and I.M.E
(2016) B.V. and all of the Company’s rights in connection with the above holdings.

 

		g.	A fixed pledge and a charge on the bills of lading - marine or by air - ownership certificates
of merchandise, storage certificates, merchandise delivery certificates, orders, letters of documentary credit, receipts or other
documents customary in international trade and testifying to ownership or goods or merchandise (hereinafter: the “Documents”),
which will be provided from time to time to the Bank, for collection, for safekeeping, security or otherwise, including all of
the insurance rights of any type or kind vis-à-vis B.S.S.CH. - The Israel Credit Insurance Company Ltd. or any other insurance
company, as well as any right to compensation or indemnification that the Company may have vis-à-vis third parties for loss,
damage, or expropriation of merchandise or goods - upon their delivery to the Bank as stated, they shall be considered to be pledged
and charged for the Bank as a first-ranking pledge and charge under the terms of this Debenture and its provisions.

 

		h.	A fixed pledge and charge on all of the securities, documents, pledges of others that the Company
has provided or will provide from time to time to the Bank for collection, safekeeping, security or otherwise (hereinafter: the
 “Pledged Documents”) and upon the delivery thereof, they will be considered to be pledged and charged to the
Bank as a first-ranking pledge and charge under the terms of this Debenture, and its provisions, mutatis mutandis, will
apply to their pledge and charge.

 

     

     

    

 

The Bank will be exempt from taking
any action in connection with the Pledged Documents and will not be liable for any damage that is caused in connection with the
same, and the Company undertakes to indemnify the Bank in any case in which the Bank is sued for such damage by others. The Company
hereby waives in advance any claims of prescription regarding the Pledged Documents.

 

		i.	A charge and first-ranking pledge and assignment by way of pledge on all of the rights of the Company
in Account No. 250888 at the Orot Mall Branch (438) (hereinafter: the “Pledged Account”), including all of the
rights of the Company to the funds and/or deposits and/or assets deposited and/or that will be deposited and/or located in the
Account, as well as the income, profits and consideration that the Company may have for and in connection with the Account (hereinafter:
the “Pledged Rights”).

 

		j.	The “Pledged Assets,” the “Pledged Goodwill,” the “Documents,”
and the “Pledged Documents,” “Fixed and Pledged Assets,” “Pledged Intellectual Property Rights,”
 “Rights to Receive Funds,” the “Pledged Account,” the “Pledged Rights,” and any other pledge
noted in this section will be hereinafter: the “Pledged Property.”

 

		6.	The Company hereby declares as follows:

 

		a.	That the Pledged Property is not pledged, nor is there a lien in favor of others, nor is it subject
to an attachment in any manner, other than as set forth in the report of the Registrar of Companies dated ________, attached hereto.

 

		b.	That the Pledged Property is under its sole ownership and possession or possessed by the Bank.

 

		c.	That there is no limitation or condition under law or agreement or otherwise, applicable to the
transfer of the Pledged Property or it being subjugated to a pledge or lien.

 

		d.	That it may pledge or charge the Pledged Property in any manner and form.

 

     

     

    

 

		e.	That no assignment of a right or other action was performed that derogates from the value of the
Pledged Property.

 

		f.	That it and/or the Pledged Property complies and will comply with the requirements and/or provisions
of any law and/or agreement.

 

		g.	That it is not aware of the existence of environmental hazards as defined in Section 26(d) below
in the Pledged Property, and to the best of its knowledge, no demand was received from the relevant authorities and/or any other
entity for the same in connection with environmental hazards.

 

		7.	The Company hereby undertakes vis-à-vis the Bank as follows:

 

		a.	Not to pledge, not to charge, including at an inferior level than the Bank, not to sell, not to
lease, not to lease long-term, not to transfer the Pledged Property, not to provide and/or transfer possession of the Pledged Property,
and not to perform any action with the Pledged Property or provide any person or entity with any right to the Pledged Property,
which may (by action or right) harm the rights of the Bank under this Debenture and/or under any agreement formed and/or that will
be formed between the Bank and the Company, all unless the Bank’s prior written consent to the same is received. The Bank
will not unreasonably refuse at the Company’s request to provide its consent as stated.

 

		b.	The Company declares that the Pledged Property is in working condition. The Company undertakes
to protect the Pledged Property as well as to keep the Pledged Property in working condition and to make, from time to time, the
necessary repairs for its proper maintenance and to ensure that it is fit for use, and not to make changes or demolish a structure
or part of a structure, and not to uproot any underground fittings without the Bank’s prior written consent. The Bank and
its representatives will have the right to visit, at any time, the Pledged Property in order to examine its condition. In any case
of material damage or material defect to the Pledged Property which may impact the value of the Pledged Property as a security,
the Company undertakes to notify the Bank of the same within a reasonable period of time. In the event that the Company does not
perform the repairs required in the Pledged Property within a reasonable period of time from the occurrence of the damage or the
defect, considering the type and nature of the damage or defect, the Bank may execute the repairs as it sees fit, at the Company’s
expense, provided that the damage or defect is material in the Pledged Property, and may impact the value of the Pledged Property
as a collateral. The Company undertakes to reimburse the Bank, immediately upon the Bank’s request, for all of the expenses
that the Bank has or will have in connection with the aforesaid repairs, in addition to lawful interest and linkage differentials
as of the date on which the amounts are incurred by the Bank and until the actual full repayment thereof by the Company. All of
the aforesaid expenses and the interest and linkage differentials on the same will be secured under this Debenture and will be
subject to the Secured Amounts.

 

     

     

    

 

		c.	To immediately notify the Bank of any case of the imposition of an attachment on the Pledged Property
and/or the Pledged Assets and/or any part thereof and to immediately notify the attachor of the pledge for the benefit of the Bank
and, at the Company’s expense, immediately and without delay, to use all means for the removal of the attachment. In the
event that the Company does not take measures as stated, the Bank may (but is not required to) use all of the means to remove the
attachment, and the Company will be required to immediately pay the Bank all of the expenses involved in the same (including the
fees of the Bank’s attorneys).

 

		d.	To be responsible for the accuracy and correctness of all of the signatures, assignments and details
on deeds, documents and securities that are provided and/or will be provided to the Bank as collateral.

 

		e.	To pay, on time, all of the taxes, fees, all of the compulsory payments, various types of property
tax, the lease fees and all of the other payments applicable from time to time on the Pledged Property or the Company for the Pledged
Property, including insurance fees as stated in Sections 10(a) and/or 10(b) below. The Company hereby confirms and declares that
it has made the payments as stated that are applicable by the signing date of this Debenture. The Company will provide the Bank,
immediately upon its first request, all of the receipts and approvals related to the same payments. Without derogating from any
of the Bank’s rights, in the event that the Company has not made any of the payments applicable thereto, the non-payment
of which may cause material damage to the Bank, the Bank may but is not required to pay the same in its place and at the Company’s
expense, provided that the Company is notified 15 days in advance of its intention to do so, excluding in cases of particular urgency
on the date of the execution of the payment, in which the failure to make the payment immediately may cause material damage to
the Bank. The Company undertakes to reimburse the Bank for the payment immediately upon the Bank’s first request, together
with lawful interest and linkage differentials, as of the date on which it was paid by the Bank and until the full repayment thereof
by the Company. All of the aforesaid expenses and payments above, including the interest on the same, will be secured under this
Debenture and will be subject to the Secured Amounts.

 

     

     

    

 

Without derogating from the above,
the Company hereby declares and undertakes as follows:

 

		f.	That it alone will be liable, including vis-à-vis any person, company, entity, government
authority, or any third party in connection with the Pledged Property, whether directly or indirectly, including regarding matters
related to environmental hazards, and it agrees that the Bank will not bear any liability in connection with the same. The Company
will bear all of the expenses, damages, costs, claims and demands in connection with the Pledged Property and will indemnify the
Bank for the entire amount that the Bank is required to pay for the same, if charged.

 

		g.	That it will immediately report to the Bank regarding the existence of environmental hazards, and
regarding any demand that will be directed thereto in connection with the same, and that it will handle them in accordance with
the provisions of the law and the relevant authorities, without derogating from any other undertaking under any agreement and/or
under law.

 

		h.	Without derogating from the generality of the above, the Company declares that it is aware that
all of the demands made and/or that will be made by the Bank in connection with the environmental defects related to the Company
and/or the Pledged Property are intended only to secure the credit that the Bank provides and to secure the value of the Pledged
Property, and that the Bank will not be liable vis-à-vis it or any other person, company, entity, government authority or
third party, with any liability, in connection with the same. The Company further declares that it is aware that the Bank is not
responsible for reliance that may be generated for it or any third party as a result of these requirements, and it exempts the
Bank from any liability in connection with the same.

 

     

     

    

 

		i.	To manage accounting records and to permit the Bank or a representative on its behalf, at any time,
to examine the books. The Company undertakes to assist the Bank or its representatives and to provide them, at their first request,
with balance sheets, documents, and any information required thereby, including explanations in connection with the financial and
operating condition of the Company and/or its business.

 

		j.	It is agreed that no change in control in the Company, compared to the condition existing on the
signing date of this Debenture without the Bank’s prior written consent will constitute grounds for immediate repayment.
 “Control” - as defined in the Securities Law, 1968, as well as a state in which an entity from the Viola Fund
Group ceases to be the sole controlling shareholder of the Company.

 

The Company will report to the
Bank upon being made aware of the change of control as stated, and insofar as the change of control is not approved by the Bank,
the Bank will have grounds to call for immediate repayment.

 

		k.	The Company is the owner of all of the intellectual property required by the Company for the purpose
of its business (excluding standard shelf products) and there is no agreement based on which the intellectual property will be
transferred to a third party.

 

		l.	To the best of its knowledge, the Company does not currently infringe and there is no proceeding
against it in connection with the infringement of intellectual property rights of a third party.

 

		m.	A full list of all of the intellectual property is attached as Appendix 2A, and the Company
will provide the Bank, in writing, with any update and/or change that will be made in the aforesaid list. Additionally, the Company
will update the list of active customers every six months (customers with a positive balance or customers with which there were
transactions during the past 12 months). Following the Company’s above reports, an update will be made to the pledges in
the relevant registrars, and the Company will sign all of the documents accepted in connection with the same.

 

		n.	Without derogating from the other grounds for calling for immediate repayment in accordance with
any document, it is agreed that there is if a license, consent, approval or record of any of the Company’s intellectual property
rights is retracted, cancelled, suspended, or impaired and the same has a materially adverse impact on the Company, the Bank may
call for immediate repayment the Secured Amounts or any part thereof.

 

     

     

    

 

		8.	During the entire term of this Debenture, the Company undertakes as follows:

 

		a.	Not to demand its share capital that was issued and is not yet repaid, in whole or in part, or
accept payments thereon without the Bank’s written consent, and if any amounts are paid on account of the aforesaid share
principal of the Company, without or without the Bank’s consent, the same amounts will be transferred immediately to the
Bank and used as payment on account of the Company’s debts to the Bank.

 

		b.	Not to pay its shareholders in any form or manner any loan or funds that the shareholders have
lent or will lend to the Company or any funds that the aforesaid have invested and/or will invest in the Company. The above will
not apply to a loan that is convertible to shares of the Company, which will be repaid by way of the allocation of shares.

 

		c.	Not to provide its shareholders with any loan or any credit, not to guarantee for them and/or provide
them with collateral without the Bank’s prior written consent.

 

		d.	To ensure that the shareholders that lent and/or will lend funds to the Company will undertake
vis-à-vis the Bank not to demand and not to claim any funds as stated from the Company, and if for any reason, they still
receive amounts from the Company - to reimburse the aforesaid amounts to the Bank in order to use them for the repayment of the
Secured Amounts.

 

		e.	Not to purchase its shares and not to pay any dividend without the Bank’s prior written consent.

 

	9.	a.	The Company undertakes to ensure and provide the Bank, no later than the date of the provision of the credit, with a copy of an insurance policy based on which it has insured the Pledged Property with property insurance and against any other risk demanded by the Bank, with the same insurance company, in the same amount and under the same conditions to which the Bank has agreed - all subject to the law and in accordance with the instructions of Bank of Israel. The policy will contain, inter alia, a section of pledges for the benefit of the Bank, as well as a section known as a “30 days advance notice of cancellation clause.” The Company hereby undertakes to continue to insure the Pledged Property as stated above, as long as the Credit is not repaid to the Bank in full, to pay all of the premiums on time and to provide the Bank, at its first request, with insurance certificates and references in writing of the execution of the insurance payments.

 

     

     

    

 

		b.	In each of the cases listed below, the Bank may, at its sole discretion, insure the Pledged Property
on behalf of the Bank and charge the Account of the Company and/or the Debtors, as the case may be, for the insurance fee expenses.
Amounts that are paid as expenses and insurance fees as stated will be secured based on this Debenture.

 

		(1)	If the Pledged Property is not insured to the satisfaction of the Bank.

 

		(2)	If the Company does not provide the Bank, by the date of the provision of the credit, with insurance
certificates for the Pledged Property, to the satisfaction of the Bank.

 

		(3)	If 30 days prior to the end of the insurance term of the Pledged Property, the Company does not
provide the Bank with insurance certificates of the Pledged Property under the conditions and for the period to its satisfaction.
In the case in which the insurance is made by the Bank as stated above, the Bank will not be responsible for a defect or flaw that
arises in connection with the insurance. Amounts that will be paid as expenses and insurance fees as stated will be secured under
this Debenture.

 

		c.	All of the rights arising from property insurance as stated above, including rights under the Property
Tax and Damages Fund Law, 5721-1961, as it may be in force from time to time or under any other law, whether transferred to the
Bank as stated above or otherwise, are hereby pledged for the Bank with a first-ranking fixed pledge and as a lien.

 

		d.	The Company undertakes to notify the Bank and the insurance company, immediately, of any damage
to the Pledged Property that may entitle it to insurance payments, whether the insurance was made by the Company or by the Bank.
The Bank may sue from the insurance company for the exercise of the right to insurance payments in accordance with Sections 9,
20 and 22 of the Pledge Law, 1967 and/or any other law that shall replace or amend it.

 

     

     

    

 

		e.	The Company undertakes to sign, at the first request of the Bank, all of the requests, documents,
and certificates that are required or desirable for the execution of the undertakings of the Company that are included in this
section. Additionally, the Company undertakes not to cancel or change in any manner any of the aforesaid insurance terms without
the Bank’s prior written consent.

 

	10.	a.	The collateral provided to the Bank under this Debenture shall be of a continuous nature despite the arrangement of accounts or any account of the Company and/or Debtors and will remain in force until the Bank confirms in writing that this Debenture has terminated.

 

		b.	Where the Bank was or will be provided with collateral or guarantees for payment of the Secured
Amounts, all of the collateral and guarantees will be independent of each other.

 

		c.	Where the Bank will settle or provide an extension or easement to the Company, the Bank will change
the undertakings of the Company in connection with the Secured Amounts, will release or waive the other securities or guarantees
- these will not change the nature of the collateral utilized under this Debenture, and all of the securities and undertakings
of the Company under this Debenture will remain in full force.

 

		11.	Rights of the Bank

 

		a.	In this section - “Asset” - Of
any type or kind, including funds, in Israel currency or foreign currency, securities and rights, and including funds that the
State or any other entity has provided or will provide to the Bank in any manner for the Company, as well as including an asset
as stated that is provided and/or will be provided by the Company or for it to the Bank for collection and/or safekeeping and/or
as a security and/or in any other manner, including the consideration for the same assets.

 

     

     

    

 

		b.	The Bank will have a lien right on any asset owed and/or that will be owed to the Company from
the Bank in any manner and from any source, and in any account, whether the account is registered in the name of the Company alone
or in the name of the Company together with others, as well as assets that are and/or will be held by the Bank for the Company
at any time, and the Bank any, at any time required in the opinion of the Bank to maintain its rights, based on its experience,
as reasonable under the circumstances, notify the Company of the same in advance, withhold an asset as stated until the clearance
of all of the amounts of money owed or that will be owed to the Bank from the Company and that are not yet cleared from the Secured
Amounts. With regard to amounts that are not yet due to be paid, the Bank may operate its right under this section as stated above,
only where there is a reasonable concern that the Company and/or the Debtors, as the case may be, will not meet their undertakings
vis-à-vis the Bank.

 

		c.	The Bank will have the right to prevent the Company from withdrawing credit balances that are available
thereto in any account, whether the account is registered in the name of the Company alone or in the name of the Company together
with others, as well as credit balances that are and/or will be in the possession of the Bank for the Company at any time, while
the Company and/or the Debtors owe funds to the Bank and the Bank believes that the withdrawal of the aforesaid credit balances
may harm the Bank’s rights.

 

		d.	Without derogating from the above, the Bank may offset, at any time, any credit balance of the
Company (as set forth in Section 11.3 above) against the Secured Amounts whose payment dates have elapsed, including following
the calling for immediate repayment, and the credit balance will be used for the clearance of the Secured Amounts. The Bank will
make an attempt, insofar as reasonable under the circumstances, to notify the Company of the same in advance. In order to execute
the above, the Bank may take all of the legal or other measures as the Bank shall deem fit under the circumstances.

 

Additionally, the Bank may redeem deposits
of the Company that have not yet matured while offsetting them against the Secured Amounts whose payment dates have elapsed, including
following calling for immediate repayment in accordance with the terms of any agreement between the Company and the Bank. The Company
is aware that in such a case, adverse changes may occur to the Company regarding its rights for the same deposit, such as for loss
of interest and loss of a right to grants and the Company will not have any claim against the Bank in this regard.

 

     

     

    

 

		12.	

 

		a.	Any amount of money that is cleared for the Bank on account of credit and/or an amount that the
Bank charges the Account of the Company and/or the Debtors for credit, will be charged for the credit of the Credit Account with
the following order of priorities: first for the clearance of the expenses incurred as a result of the exercise of this pledge,
and thereafter for the clearance of the other expenses, bank charges, and interest that are owed to the Bank, including additional
amounts following linkage of the interest, and subsequently for clearance on account of the principal of the credit for amounts
that are due to be paid, including additional amounts for linkage of the principal of the credit.

 

		b.	Subject to subsection a above, the Bank may, at any time, at its discretion:

 

		1.	Charge any account of the Company for any amount owed from the Company and/or the Debtors to the
Bank.

 

		2.	If necessary, transfer any amount provided for the benefit of the Company in any account, to any
other account.

 

		13.	Considering that the amounts owed and that will be owed to the Bank from the Company and/or the
Debtors on account of the Secured Amounts may be both in Israeli currency or in foreign currency, it is hereby declared and agreed
that the Bank and the Receiver - as the case may be - may convert Israeli currency that is provided to them to foreign currency
required for the full or partial clearance of the Secured Amount owed to the Bank in foreign currency, and convert foreign currency
provided to them to Israeli currency, in accordance with the maximum rate for transfers and assignments existing at the Bank upon
the purchaser, which is required for the clearance of any amount, or to sell any foreign currency of the Customer in accordance
with the minimum rate for transfers and assignments existing at the Bank upon the sale, and to use the consideration from the sale
for the purchase of a different foreign currency at which the credit is provided, which will be required for the clearance of any
amount. Any purchase or sale as stated will be made (if any) from the amounts in foreign currency or amounts in Israeli currency
that are available at the Bank for the benefit of the Company and/or the Debtors, or that are received from the collateral.

 

     

     

    

 

	14.	a.	In each of the cases granting the Bank a right to call the Secured Amounts for immediate repayment, based on any document signed and/or that will be signed by the Company and/or the Debtors, the Bank may use any means that it deems fit, subject to any law, in order to collect all of the Secured Amounts, exercise the collateral in any manner permitted by law and exercise all of its rights under this Debenture, including the exercise of the Pledged Property, in whole or in part, and use the redemption thereof to clear the Secured Amounts, without the Bank being required to exercise guarantees or other collateral, if any exists at the Bank. Additionally, the Bank may take, at the Bank’s discretion, any remedy allocated and/or granted to the Bank under any agreement or law, including enforcement or termination, in whole or in part, of any agreement between the Bank and the Company and/or the Debtors and/or the receipt of damages from the Company and/or the Debtors.

 

For the avoidance of doubt, it
is clarified that the immediate repayment of the Secured Amounts will be made in accordance with the agreements signed by the Company
and the Bank.

 

		b.	In addition to the provisions of subsection (a) above, the Company will pay the Bank, as liquidated
damages assessed in advance, for any loss or damage incurred to the Bank as a result of calling from immediate repayment - an amount
equal to the total of all of the amounts that the Bank typically collects as early repayment, as may be customary from time to
time at the Bank, or an amount that the Bank is permitted to collect as an early repayment fee under law and/or based on the instructions
of Bank of Israel, whichever is higher.

 

		c.	Any receiver and/or special manager and/or business manager and/or liquidator and/or trustee appointed
at the request of the Bank, in cases as stated in Section 14(a) above, may, inter alia, and subject to the approval of the
court, Execution Bureau, or any other competent authority:
	 	 	 

		(1)	Take possession of the Pledged Property, in whole or in part.
	 	 	 

		(2)	Manage the business of the Company or participate in its conduct as it deems fit.

 

		(3)	Sell or lease and/or agree to sell or lease the Pledged Property in whole or in part or transfer
it in any other manner under the conditions as it sees fit.

 

     

     

    

 

		(4)	Make any other arrangement regarding the Pledged Property, in whole or in part.

 

		15.	All of the income received by the Receiver and the manager from the Pledged Property and any consideration
received by the Bank and/or by the Receiver and the manager from the sale of the Pledged Property or part thereof will be charged:

 

		a.	First for the clearance of all of the expenses incurred in connection with the collection of the
Secured Amounts, including expenses of the Receiver or the Receiver and manager, and its fees in the rate determined by the Bank.

 

		b.	Second, for the clearance of the additional amounts owed to the Bank following the terms of linkage,
interest, damages, fees and expenses owed or that will be owed to the Bank under this Debenture.

 

		c.	Third, to clear the principal of the Secured Amounts.

 

		16.	In the case in which, upon the exercise of the Pledged Property, the payment date of the Secured
Amounts has not yet elapsed, or the Secured Amounts will be owed to the Bank conditionally only, the Bank may collect, from the
redemption of the exercise, an amount sufficient to cover the Secured Amounts, and the amount that will be collected will be pledged
to the Bank to secure them, and will be held by the Bank until the clearance thereof.

 

The provision of the pledge under
this deed will not derogate from or detract from the rights of the Bank and/or undertaking of the Company under other documents,
of any kind, which were signed and/or will be signed by the Company vis-à-vis the Bank.

 

		17.	Where either of the parties does not use, in a particular case, any of its rights under this Debenture,
the same will not be considered to be a waiver on its part of the same rights, regarding the specific case, or regarding cases
that occur subsequently. No waiver or settlement, including regarding the payment dates, will be valid unless provided in writing.

 

No waiver that the Bank provides
to any party to a deed held by the Bank under this Debenture will impact the undertakings of the Company in any form or manner.

 

		18.	Deleted.

 

     

     

    

 

		19.	The Bank Records and its Accounts will serve as admissible evidence against the Company for all
of the details thereof, and inter alia, with respect to the calculation of the Secured Amounts, the details of the deeds
and guarantees and the other securities, and any other matter related to this Debenture.

 

The term “Bank Records”
shall mean - including any book, registrar, account statement, microfiche, copy or photocopy of an account statement, contract,
letter of undertaking, deed, data card, index, spreadsheet, output, document or extract issued from computerized databases of the
Bank or any electronic, electrical, optical or computerized means in which data is registered or stored, as well as any other means
customary at the Bank for the registration or storage of data, and any other approved copy of a document or output as stated.

 

The term “Accounts”
shall mean - any record or copy of a record, whether registered or copied in writing or by machine or recorded or copied by way
of printing, duplication, photocopy, including microfiche or any technical electrical or electronic device, including as means
of recorded accepted in the data processing industry or the electronic computers industry or any other means of recording or the
presentation of words or literature or marking, as practiced and/or customary at the Bank.

 

		20.	The Bank may, subject to the provisions of any law, transfer at any time its rights under this
Debenture, or any part thereof, including the Secured Amounts, or grant its rights in full or in part to a third party, without
the receipt of additional consent of the Company. Additionally, the transferee, subject to the provisions of any law, may also
transfer all of the rights that are transferred thereto under this Debenture or any part thereof.

 

		21.	The Bank may deposit the collateral provided or that will be provided under this Debenture or part
thereof, with a guardian at its discretion, on account of the Debtors, and replace the guardian from time to time, such that the
Bank may record the aforesaid collateral, in whole or in part, with any competent authority under any law.

 

     

     

    

 

	22.	a.	The granting of this Debenture will not derogate from the right of the Bank to collect the Secured Amounts in a manner other than through the exercise of this Debenture.

 

		b.	The exercise of this Debenture will not derogate from the right of the Bank to collect from the
Company and/or the Debtors the balance of the Secured Amounts in a manner other than through the exercise of this Debenture.

 

		23.	In this Debenture:

 

		a.	“Bank” shall mean - Mizrahi Tefahot Bank Ltd. and any of its branches existing
on the date of this Debenture and/or that is opened in any place in the future, as any party on behalf of the Bank or in its place.

 

		b.	“Deeds” shall mean - promissory notes, bills of exchange, checks, undertakings,
guarantees, securities, checks, bills of lading, bills of deposit and any other marketable documents.

 

		c.	“Law” - as defined in the Interpretation Law, 1981, including any law, regulation,
order, instruction, license, permit, standard, demand, or request of a government authority, including provisions, permits and
instructions of Bank of Israel, all as applicable and will be in force from time to time.

 

		d.	“environmental hazards” - hazards in the field of environmental protection,
in the broadest accepted form of this term, including harm to the public health, related to the Company and/or the Pledged Property
and including, without derogating from the generality of the above, air and atmospheric pollution, water pollution, including groundwater,
ocean water, land pollution, noise, smell, ionizing and non-ionizing radiation, waste and hazardous materials. Additionally, hazards
for which there are instructions and requirements in the framework of business licensing and construction planning, the instructions
of local authorities, the Ministry for Environmental Protection, the Ministry of Energy and Water, including the Water Authority,
Ministry of Health, Minister of Interior, and Planning and Construction Committees and/or any other relevant authority (hereinafter:
the “Relevant Authorities”).

 

		e.	The preamble to this Debenture constitutes an integral part hereof.

 

		f.	Where this Debenture is signed by two or more, the signing parties will be jointly and severally
liable for the fulfillment of all of the undertakings under the Debenture.

 

     

     

    

 

		g.	The “Base Index” - regarding the principal amount: the Consumer Price Index
that is most recently published prior to the signing of the Debtors on this Debenture. Regarding any of the charges and expenses:
the Consumer Price Index published most recently before the execution of the charge or payment of expenses by the Bank.

 

		h.	The “New Index” - the Consumer Price Index published most recently before the
actual payment date by the Debtors of any amount.

 

		i.	The “Base Rate” - regarding the principal amount: the exchange rate on the date
on which the Company signs this Debenture. Regarding any of the charges and expenses: the exchange rate on the date of the execution
of the charge or payment of expenses by the Bank.

 

		j.	The “New Rate” - the exchange rate on the actual payment date by the Company
of any amount.

 

		24.	Any notice that is sent by the Bank to the Company and/or the Debtors based on any address set
forth in this Debenture or any other address of which the Company and/or the Debtors notifies and/or will provide notice, as the
case may be, to the Bank in writing - will be considered to have been sent and received thereby on time in accordance with the
ordinary mail arrangements, unless proven otherwise. A written declaration from the Bank will serve as admissible evidence regarding
the time and delivery of the notice.

 

		25.	The place of jurisdiction for the purpose of this Debenture is hereby determined to be a competent
court of Israel.

 

		26.	The law that shall apply to this document and its interpretation will be the Israeli law.

 

		27.	Special conditions:

		___________________________________________________________________	

		___________________________________________________________________	

		___________________________________________________________________	

 

In witness
whereof, the Company affixes its signature:

 

     

     

    

 

	 	/s/ Itamar Medical Ltd.
	 	The Company

 

Appendix A1

 

The pledge will apply to all of the rights,
including Intellectual Property Rights, of the Company that are currently existing and will exist in the future, whether registered
in the name of the Company or otherwise, including if registration requests are submitted for the same on:

 

		(a)	All of the know-how, inventions, patents, trademarks, designs, models, tradenames, copyrights and
processes and technological applications.

 

		(b)	Domain names, licenses, availability agreements, usage right agreements, illustrations, computer
software, trade secrets and customer lists.

 

All whether the Company’s
rights are registered in its name or otherwise, or the aforesaid rights are currently existing or will exist in the future.

 

Regarding the aforesaid intellectual property
rights or any part thereof, the Company undertakes to ensure that it and any subsidiary:

 

		(a)	Will make all of the appropriate records and pay all of the expenses and fees required in order
to keep and protect the intellectual property rights of the Company and/or its subsidiaries and/or registered for them.

 

		(b)	Will take all of the necessary measures, including legal proceedings, in order to prevent a third
party from infringing the same intellectual property rights.

 

		(c)	Not to sell, transfer, lease or provide a license to use, other than the license arrangements with
a third party that is not an affiliated party, made during the ordinary course of business and for ordinary consideration.

 

     

     

    

 

Appendix
B

to the
Secured Debenture

 

		1.	The parties declare and agree that the terms defined in the Debenture to which this Appendix constitutes
an integral part will also be used for the purpose of this Appendix B.

 

		2.	This Appendix B constitutes an integral part of the Debenture and will be read as part of its sections.

 

		3.	Below shall detail the rights that are pledged for the benefit of the Bank as set forth in the
Debenture:

 

		4.	All of the rights of the Company, existing and future, for the receipt of funds from customers
of the Company, as stated in Section 7(m) above, as set forth in the attached list, under any framework agreement and any
contract, undertaking and/or order that shall be provided from time to time, as set forth below:

 

     

     

    

 

Date: 29th May 2017

Mizrahi Tefahot Bank Ltd

(hereinafter: the “Bank”)

 

Re: Negative
Charge

Irrevocable Undertaking

 

	WHEREAS	Itamar Medical Ltd.
    (hereinafter: the “Client”) has received and/or is about to receive Credit from the Bank, as defined in
    the Bank’s “Agreement and General Business Terms” and/or “Framework agreement” and/or “Application
    to Open an Account” and/or “Application to Effect Changes in an Account” and/or “Account Management
    General Terms and Conditions” and/or “General Conditions for Credit Activities” and all the appendices and
    amendments thereto and/or various banking services, (hereinafter: “the Credit”);
	 	 
	AND WHEREAS	we, the undersigned,
    I.M.E 2016 B.V. (hereinafter: the “Company”) are subsidiary of the Client;
	 	 
	AND WHEREAS	the Credit is and/or
    shall be given by the Bank inter alia in reliance upon this undertaking;

 

WE ACCORDINGLY WARRANT, CONFIRM AND UNDERTAKE TO THE BANK
AS FOLLOWS:

 

	1.	As at the date of giving this undertaking, there is no floating charge over the Company’s assets in favour of any third party, nor has the Company given any undertaking to create a floating charge in favour of any third party.
	 	 
	2.	
        As at the date of giving this undertaking,
        there is no fixed charge over the Company’s assets in favour of a third party, nor has the Company given any undertaking
        to create a fixed charge in favour of any third party.

         

        The provisions of this clause and clause
        1 above are save for the charges specified below:

 

	2.1	 	 	2.4	 
	2.2	 	 	2.5	 
	2.3	 	 	2.6	 

 

	3.	The Company shall not in any matter charge its existing assets or its assets as shall exist from time to time in a floating charge and of any type or ranking without obtaining the Bank’s prior written consent.
	 	 
	4.	The Company shall
    not charge any asset that exists and/or is registered in its name without obtaining the Bank’s prior written consent.
    Notwithstanding the foregoing provisions in this clause, the Company shall be entitled to create a fixed charge over new fixed assets in favour of another bank the purchase whereof shall be financed by such bank and such being up to the amount that it has borrowed from it for such purpose.
	 	 
	5.	If for any reason whatsoever the Company shall breach its commitment herein, the Bank shall be entitled to immediate repayment of the credit amounts given to the Company and/or to the Client, in addition to any relief and/or remedy to which the Bank is entitled against the Company and/or the Client pursuant to any agreement or law.
	 	 
	6.	The Company’s irrevocable undertakings herein are given to secure the rights of Mizrahi Tefahot Bank Ltd., and shall continue to be in effect until its termination is approved by the Bank.
	 	 
	7.	This undertaking shall be governed by and interpreted in accordance with the laws of the State  of Israel, without giving effect to the rules respecting conflict of law. The competent courts in Tel Aviv shall have sole and exclusive jurisdiction over any dispute between the parties, as set forth herein.

 

Your faithfully.

 

	/s/ Dorsha B.V.	 
	I.M.E 2016 B.V	 
	By: Dorsha B.V.	 
	Its: Director	 

 

     

     

    

 

 

 

Name of Customer:       Itamar
Medical, Inc.                                                                                                                                      

Address: _______________________________________ I.D./Company
No:__________________________

 

MIZRAHI TEFAHOT BANK LTD

 

Kenyon Orot Branch

 

CONTINUING GUARANTEE IN AN UNLIMITED
AMOUNT TO SECURE ALL DEBTS

 

	PREAMBLE	WHEREAS Mizrahi Tefahot Bank Ltd (hereinafter referred to as the “Bank”) has granted or from time to time shall grant to Itamar Medical Ltd. (hereinafter referred to as the “Customer”) credit under such terms as from time to time were and/or shall be agreed upon between the Bank and the Customer in respect of each credit;
	 	 
	 	AND WHEREAS we, the undersigned, are willing to guarantee to the Bank the repayment of debts of any kind owing now and / or hereafter from the Customer to the Bank;
	 	 
	 	NOW THEREFORE WE CONFIRM, GUARANTEE AND UNDERTAKE AS FOLLOWS:-

 

	DEFINITIONS	1.	In this Guarantee:-

	 	(a)	“Credit”, whether in Israeli currency or in any foreign currency, includes every revolving credit, single credit, loan, discount, purchase and or brokerage of bills, overdraft, granting of guarantee and/or letter of indemnity, opening of documentary credit, grant of extension of time, and of various banking facilities, handling of bills of lading transactions in securities services, or any other payments granted or to be granted now or hereafter by the Bank to the Customer or to his order, whether in Israel or abroad, as well as every and any other transaction or other action whereby or as a result of which debts or obligations are or may be incurred or undertaken by the Customer towards the Bank, whether as debtor, guarantor or endorser and/or in any other manner whether the said debts be owing from the Customer jointly or severally, whether owing presently or hereafter, whether maturing prior to the execution hereof or hereafter, whether certain or contingent, whether owing directly or indirectly, whether express or implied.
	 	(b)	Words importing the singular shall include the plural and vice versa.
	 	(c)	Words importing the masculine gender shall include the feminine gender and vice versa.
	 	(d)	“Bank” means Mizrahi Tefahot Bank Ltd and includes all branches and/or offices and/or subsidiaries and/or affiliates of the Bank existing on the date of this Guarantee, whether in Israel or abroad, and/or any such branch and/or office and/or subsidiary and/or affiliate of the Bank that shall at any future date be established in any place whether in Israel or abroad, its assigns and any person or legal entity duly authorized to act on behalf of the Bank and its duly appointed representatives.
	 	(e)	The “Customer” includes the heirs, estates, successors, executors and administrators of their wills and estates and their appointees and substitutes, guardians, liquidators, directors, partners, shareholders, trustees and assigns of the Customer or power of attorney acting in the Customer’s stead.
	 	(f)	“Bills” include promissory notes, cheques, bills of exchange, commitments, guarantees, bills of securities, drafts, bills of lading and any other negotiable and any other negotiable instruments.
	 	(9)	“Consumer Price Index” means the price index known as “the Consumer Price index” (cost of living index) including fruits and vegetables, published by the Central Bureau of Statistics of the State of Israel, and including such index if published by another official body or institute, and also any official index replacing it, irrespective of whether based on the same data.
	 	(h)	The expression “Representative Rate of the US Dollar” or “Representative Rate” means the representative of the US dollar determined by the Bank of Israel. In the event that the Bank of Israel ceases to determine the Representative Rate either temporarily or permanently, the Representative Rate shall be determined by the Bank.
	 	(i)	The expression “Dollar” means the US dollar.
	 	(j)	“Exchange Rate” means the selling price for cheques and transfers and/or bank notes of any denomination whatsoever in foreign currency, all as shall be determined by the Bank. In the event that at any such time two or more exchange rates as aforesaid are prevailing at the Bank, the Exchange Rate shall be the highest such rate then prevailing. In the event that at the time of such conversion of foreign currency additional payments, including commissions, levies, taxes, fees and other costs, etc. shall apply, the Exchange Rate shall be deemed to include any such additional payments.
	 	(k)	The preamble to
this Guarantee shall constitute an integral part hereof.

 

    	 	1	 

     

    

 

	GUARANTEE	2.	We hereby
    irrevocably guarantee to the Bank and its assigns absolutely, unequivocally and unconditionally the full and prompt repayment
    of any sums owing now and/or hereafter from the Customer to the Bank, inter alia, in connection with the granting of
    the Credit by the Bank to the Customer, whether the said debts be owing from the Customer singly or jointly with another or
    others, whether incurred by the Customer in the past or are to be incurred by the Customer in the future, whether owing from
    the Customer as debtor, guarantor or endorser, whether owing now or hereafter, whether certain or contingent, whether owing
    directly or indirectly, with the addition of interest, commissions, damages, linkage differentials, exchange rate differentials
    and any other reasonable and actual charges and costs (all the aforesaid sums hereby guaranteed by us shall hereinafter be
    referred to as the “Said Sums”). For the avoidance of any doubt, it is hereby agreed and confirmed that we hereby
    guarantee all linkage differentials and/or exchange rate differentials of any kind whatsoever owing now and/or hereafter by
    the Customer to the Bank in respect of linked principal and/or linked interest constituting part of the Said Sums. Accordingly,
    the expression the “Said Sums” shall also be deemed to include the aforesaid linkage differentials and exchange
    rate differentials.
	 	 	 
	OBLIGATION AMOUNT.	3.	The aggregate amount
    which we shall be obliged to pay the Bank under the present Guarantee (hereinafter referred to as the “Guaranteed Amount”)
    shall be an unlimited amount.
	 	 	 
	PAYMENTS DATES	4.	We undertake to pay the Bank any amount it may demand from us from time to time, within 7 (seven) days of the date of the dispatch of its first demand notice on account of the Guaranteed Amount as the Customer shall owe the Bank, up to the full actual repayment thereof.
	 	 	 
	WAIVER OF PRIOR DEMAND NOTICE FOR REPAYMENT
    TO CUSTOMER	5.	Except for the notices required pursuant to this Guarantee and as required by applicable law, the undersigned waives notice of acceptance of this Guaranty and notice of any liability to which it may apply, and waives presentment, demand of payment, protest, notice of dishonor or nonpayment of any such liabilities, suit or taking other action by the Bank against, and any other notice to, any party liable thereon (including the undersigned). Notwithstanding the foregoing, the Bank shall provide notice of default to the Customer concurrently with providing a demand for payment to us, We shall pay the Bank all such sums as the Bank may demand from us as aforesaid, without imposing upon the Bank any duty to provide us with any accounts or proof whatsoever of the non-performance by the Customer of his obligations, and we hereby waive any requirement that the Bank make prior demand for payment of any such sums from the Customer. The Bank shall be entitled to demand from us the performance of this Guarantee, without the Bank being obliged to institute any proceedings for the collection of any such sums from the Customer, or from any liquidator or trustee thereof or from other guarantors or to realize other collateral. The institution of any proceedings by the Bank in order to collect any such sums shall not derogate from our obligations to pay any such sums immediately and we shall not be entitled to delay the payment of any such sums until the finalization of any other proceedings instituted by the Bank.
	 	 	 
	FOREIGN CURRENCY TRANSACTION	6.	
        In every instance that Credit is granted
        or is to be granted to the Customer in any foreign currency (hereinafter referred to as a “Foreign Currency Transaction”),
        we hereby undertake to pay to the Bank or to its order in that same foreign currency all the Said Sums which are due and which
        shall become due from the Customer with respect to that Foreign Currency Transaction, including principal, interest and linkage
        differentials, if they occur, as well as commissions and reasonable and actual expenses resulting from the linkage of the principal
        and the interest or any one of them, to the Exchange Rate.

         

        In the event that the Bank shall be compelled
        to take legal action against us (on the basis of this Guarantee) in order to recover Said Sums in respect of a Foreign Currency
        Transaction and the court and/or the execution office shall order us to pay any sums in respect of the Foreign Exchange Transaction,
        in Israeli currency or in consideration of Israeli currency, we hereby undertake to pay the Bank the amount, in New Israeli Shekel,
        or the proceeds thereof, which shall be sufficient for the conversion into foreign currency of the said amount in accordance with
        the Exchange Rate prevailing on the date of actual payment.

	 	 	 
	LIABILITY IN EVENT OF ARRANGMENT, LIQUIDATION
    OR BANKRUPTCY	7.	In the event of
    any     arrangement made with respect to the debts of the Customer, (including an arrangement by the court) or the
    liquidation or     bankruptcy thereof, such arrangement shall not derogate from our obligations pursuant to this Guarantee
    and the Bank shall be     entitled to demand from us the Guaranteed Amount in full in accordance with the amount of the Said
    Sums as would have been     due from the Customer to the Bank if it were not for such arrangement, liquidation or
    bankruptcy.     The Bank shall be entitled     to consent to any compromise settlement, and such compromise shall not to
    derogate from our     guarantee for the entire     Guaranteed Amount. We undertake not to submit evidence of a debt to a
    receiver, trustee, etc.,     without the prior written     approval of the Bank which shall not be unreasonably withheld.
    Notwithstanding the foregoing,     we may submit to the receiver,     trustee, etc., proof of a debt or claims of
    a debt or claims of a similar nature), only if     it is emphasized that such claims are     subordinate and junior to the
    rights of the     Bank     at the time of the receivership or     dissolution.

 

    	 	2	 

     

    

 

	UNCONDITIONAL
    GUARANTEE	8.	The Bank is not bound to accept any additional collateral or guarantee from Customer in respect of the payment of the Said Sums. If it was known to us at the time of or prior to our signing this Guarantee that the Bank was about to obtain other collateral from the Customer or further guarantees, including any instance in which names of additional guarantors were to be supplemented to this Guarantee and the Bank shall not have received such additional collateral and/or the additional guarantors shall not have signed any other guarantee, the validity of this Guarantee shall not thereby be derogated from and we shall perform all our obligations hereunder.
	 	 	 
	PRESERVATION
    OF GUARANTEE	9.	The Bank may from time to time, whether with or without our consent and with or without any notice to us:

	 	(a)	Discontinue, vary, decrease, increase, or renew any Credit to the Customer;
	 	(b)	extend the time for payment or grant other similar accommodations to the Customer and/or to any other person and/or to the Guarantor or to any one of us;
	 	(c)	exchange, renew, modify, release, terminate, enforce or refrain from enforcing any collaterals or guarantees held or which shall be held by the Bank, whether obtained from the Customer and/or from other persons and/or from the Guarantors and/or from any one or more of us;
	 	(d)	compromise, waive, release or make any other arrangement with the Customer and/or with any other person and/or with the Guarantors and/or with any one of us, of his obligations;
	 	(e)	procure the non-discharge of any indebtedness incurred by the Customer in respect of the granting of the Credit, or procure the release of any collateral given in connection with the granting of the Credit;
	 	(f)	refrain from notifying us of the non-performance of any obligations whatsoever by the Customer and/or postpone or suspend the submission of demands against us hereunder, without the same being deemed to constitute a precedent, waiver, limitation of action or negligence on the part of the Bank.

 

	 	Upon the occurrence of any of the aforesaid events, even if as a consequence thereof a loss shall be incurred by the Bank, this Guarantee shall remain fully valid and effective and shall not be affected or altered or reduced as to the amount thereof and all our obligations shall remain unaffected and shall not be reduced. In order to avoid all doubt, it is hereby stipulated that if the Bank perform any of the aforesaid acts, we shall not be entitled to any right of option, right of cancellation or any other right stipulated in the Guarantee Law, 5727-1967, in respect of the said acts and we hereby expressly waive all our said rights thereunder.

 

	WAIVER OF DEFENCE CLAIMS
	10.	
        This Guarantee shall not be derogated
from, reduced or altered and shall remain valid and effective:

	 	(a)	in the event that the Customer’s indebtedness to the Bank is impaired or invalid for any reason whatsoever including, inter alia, by reason of the capacity or representation of the Customer;
	 	(b)	in the event that the Bank’s right to claim the payment of the Guaranteed Amount from the Customer has terminated due to prescription;
	 	(c)	in the event that the Customer denies his liability towards the Bank or in the event that the Customer has or raises any claims against the Bank.
	 	(d)	In the event that the Customer is a corporation that has passed a resolution to merge with another corporation, whether as an absorbing company or as a target company, as defined in the Companies Law, 5759-1999.

 

	 	 	In each of the aforesaid instances, the abovementioned indebtedness shall, for the purposes of this Guarantee, be deemed to be valid, unimpaired, fully effective, non-appealable and unable to be responded to for the purposes of this Guarantee and we hereby declare that we shall not raise any claim against the Bank and that all our obligations pursuant to this Guarantee shall remain fully effective and we hereby waive, in advance, any rights or claims that the Guarantee Law, 5727-1967, confers or allows in such circumstances.
	 	 	 
	PRESERVATION OF OBLIGATIONS	11.	In the event that we or any one of us or the Customer is a legal entity, whether incorporated or unincorporated, or a trustee, executor or administrator, or joint account holder at the Bank, or any type of organization or entity constituting an affiliation of entities, our obligations hereunder shall not be derogated from by reason of any change in our name, constitution or composition or in that of the Customer.
	 	 	 
	CONSIDERATION	12.	Without deeming consideration to be a precondition to the validity of this Guarantee in whole or in part, we hereby confirm that the Bank’s consent to advance Credit from time to time to the Customer or any party constituting the Customer shall be deemed to be full consideration for our obligations hereunder, in whole or in part.

 

    	 	3	 

     

    

 

	COLLATERAL	13.	All
    present and future collateral and guarantees for our obligations held or to be held by the Bank including those stipulated hereunder,
    shall constitute collateral for the performance of all our obligations hereunder: The bills of our customers or other
    parties, or securities or other negotiable instruments as shall be held by the Bank from time to time. Such bills, securities
    or other negotiable instruments shall be deemed to be pledged and charged to the Bank from the moment of their delivery to
    the Bank as collateral. We hereby exempt the Bank from all obligations as holder of a bill, such as, presentation for
    acceptance or for payment, protest and notice of dishonor and the signatures, endorsements and guarantees on bills and any
    other negotiable instruments shall remain valid until their discharge, without any formal requirements whatsoever having to
    be met and we hereby waive the right to raise the defense of prescription.
	 	 	 
	BANKER’S
    LIEN PLEDGE AND SET-OFF	14.	
        Without prejudice to any other right of
        the Bank, the Bank shall have a right of pledge, charge, possession, bankers’ lien and set-off on all amounts that are or
        shall be held by the Bank at any time to our credit in a current or any other account whatsoever, whether held jointly or severally,
        whether with another or others and/or with respect to any and all assets (including, without derogation from the generality thereof,
        diamonds, gold, securities, bills, coins, banknote, goods, documents relating to goods, insurance policies, assignments of debts,
        any negotiable instruments, deposits, collateral, mortgages and other rights) that are and/or shall be held and/or credited to
        or on our behalf at the Bank, in any form or manner whatsoever, including those that have been or shall be delivered to the Bank
        for collection and/or as security and/or for custody and/or in any other manner whatsoever and on the proceeds thereof. The Bank
        shall be entitled at any time and from time to time to utilize any asset to which the said lien, pledge, charge or set-off shall
        apply, in any way or manner, including by realization, collection and sale, at any price and in accordance with any terms as the
        Bank shall deem proper, and from time to time, to utilize the proceeds (in part or fully) that shall be received as a result of
        or in relation to such realization and/or collection or sale for the partial and/or full repayment of the Said Sums. At any time
        that we shall owe, or might owe, or only conditionally owe the Bank any monies pursuant to this Guarantee, the Bank shall be entitled
        to utilize its rights to fully realize the said pledge, charge, possession, lien and set-off or any of them, in order to discharge
        the amounts that are or shall be owed by us to the Bank or as security for their repayment. We do not have and shall not have any
        claim or plea of any type whatsoever against the Bank for taking any action stipulated in this Clause. In order to effect any of
        the said actions, the Bank shall be entitled to take all legal and other proceedings as it shall deem necessary.

         

        All costs related to the realization and/or
        sale and/or taking any legal proceedings both against Customer and us, shall be borne by us, and the Bank shall be entitled to
        debit our account accordingly. In every instance of the collection of bills, the Bank shall be entitled to negotiate and discount
        the bills to other persons in a reasonable amount, take all legal and other proceedings for the collection of the bills, debit
        our account with the collection charges, compromise with the makers, endorsers or guarantors thereof or grant any reasonable concessions
        whatsoever, accept partial payment and from time to time, apply the proceeds of the bills in full or partial payment of the Said
        Sums.

	 	 	 
	DEBITING
    AND CREDITING OF PAYMENTS	15.	
        The Bank may at any time at its reasonable
        discretion:

         

        (a)          Debit any account in our name with
        any amount owing now or hereafter to the Bank pursuant to this Guarantee.

        (b)          Credit any amount paid by us or on
        our account in any manner and form to such account as the Bank shall deem proper.

        (c)          Transfer any amount standing to our
        credit in any account in our name to any other account maintained in our name.

        (d)          Credit any amount received from the
        Customer or on his behalf or on account thereof or upon the realization of any collateral held by the Bank to such account as the
        Bank shall deem proper.

	 	 	 
	CONTINUING GUARANTEE	16.	This Guarantee shall be continuing and revolving security and shall continue to be effective notwithstanding any settlement of accounts with the Customer and shall bind us and our assigns (which expression shall be interpreted as including guardians, custodians, heirs, administrators and executors of wills, trustees, receivers, liquidators and successors and any party acting in their stead) until the expiration of thirty (30) days from the day on which the Bank, through the branch at which we executed the present Guarantee, receives written notice from us of the termination of the Guarantee. The said notice shall not derogate from our Guarantee and our liability for the debts, transactions and obligations that the Customer has effected or undertook to effect prior to the termination of the said period of 30 (Thirty) days, even though their maturity dates may occur after the expiration of the said period.
	 	 	 
	SUBORDINATIOM
    OF INDEBTEDNESS OF CUSTOMER	17.	We hereby agree that any indebtedness of the Customer, now or in the future owed to us and outstanding at the time of enforcement of, or collection under, this Guarantee, is hereby subordinated to the Said Sums. If the Bank so request, any such indebtedness shall be collected, enforced and received by the Guarantor as trustee for the Bank, and shall be paid over to the Bank in kind on account of the Said Sums, provided that the Bank is then entitled to collect an amount equal to, or greater than, such indebtedness from the Customer pursuant to any agreement and/or Credit provided by Bank to Customer.

 

    	 	4	 

     

    

 

	SUBROGATION	18.	We
    hereby agree that, until the payment and satisfaction in full of all of the Said Sums, we shall not exercise any right,
    remedy, power or privilege, such as any right of subrogation, contribution or indemnity or related remedy, power or
    privilege, arising to us (whether by contract or operation of law) against the Customer in respect of all or any part of the
    Said Sums or any collateral for all or any part of the Said Sums by reason of any payment or other performance pursuant to
    the provisions of this Guarantee and, if any amount shall be paid to us on account of such rights, remedies, powers or
    privileges, we shall hold such amount in trust for the benefit of, and pay the same over to, the Bank, on account of the Said
    Sums. We understand that the exercise by the Bank of any right, remedy, power or privilege that it may have under any
    agreement with Customer and/or with us relative to all or any part of the Said Sums may affect or eliminate our right of
    subrogation or similar recovery against the Customer, any other guarantors or any collateral, and that we may therefore incur
    partially or totally non-reimbursable liability under this Guarantee. Nevertheless, we hereby authorize and empower the Bank
    to exercise, in its sole discretion, any combination of such rights, remedies, powers and privileges, provided however, that
    such exercise of rights is in accordance with the terms of its agreements with Customer or with us.
	 	 	 
	CONDITIONAL RELEASE	19.	In the event that our obligation to the Bank pursuant to this Guarantee is for any reason whatsoever revoked or terminated or the Bank shall confirm that our obligation as herein stipulated has terminated, we hereby agree that in any event of the Bank being ordered by any court to repay to any person or body whatsoever any amount whatsoever paid to the Bank in discharge of the Said Sums or on account thereof (whether such amount was paid to the Bank by mistake or in fraudulent preference or for any other reason whatsoever) we hereby undertake to compensate and indemnify the Bank in respect of any sum which the Bank is ordered to pay and/or incurs in relation thereto, with the addition of all the expenses and payments incurred with respect thereto and with the addition of interest accrued on such sums, charged at the highest rate of interest then prevailing, until we fully repay all the amounts stipulated in this paragraph to the Bank.
	 	 	 
	AUTONOMOUS NATURE
    OF COLLATERAL	20.	
        This Guarantee shall be deemed to be autonomous
        of any other collateral or guarantees and shall not be prejudiced or affected by any such other collateral or by reason of the
        Bank receiving impaired or invalid collateral or guarantees.

        We hereby waive any right to receive by
        way of transfer to us or to participate in any other collateral which the Bank holds in respect of the repayment of the Said Sums
        and we shall not perform any act with the purpose of obtaining any rights in the said collateral, notwithstanding payment by us
        of the full Guaranteed Amount.

	 	 	 
	INDEMNITY	21.	In addition to our guarantee provided herein, the present document shall constitute an undertaking of indemnity and we hereby undertake to indemnify the Bank, within the limits of the Guaranteed Amount, for any damages, costs and losses caused to the Bank in any action or legal proceeding brought by third parties, with the exclusion of lost-profit damages only, as result of granting credit to the Customer, subject to the relevant conditions stipulated herein.
	 	 	 
	BANK ENTRIES	22.	
        All entries recorded in the books of the
        Bank shall be deemed to be accurate and shall serve as sufficient evidence against us with respect to all their details, regarding
        all the accounts of the Customer unless disputed by Customer within thirty (30) days of entry being provided to Customer. Copies
        of such entries and/or, at the discretion of the Bank, every item in such entry or such page or in separate document or any part
        of such entry or the last page of the said entry or any part thereof that shall be approved by an officer of the Bank, shall serve
        as sufficient evidence as to the existence of such entry and as to the accuracy of the details appearing thereon.

         

        The term “the books of the Bank”
        shall be deemed to also include any book, ledger, statement, copy of statement, loan agreement, deed of undertaking, bill signed
        by the Customer, index card, page, roll or any other means or by electronic data storage and computerization and other means of
        data storage.

         

        The term “entry” shall be deemed
        to also include any entry or copy of an entry whether written or copied by hand or typewriter or whether recorded by printing,
        stenciling, duplicating, photostating (including microfilming) or any other mechanical, electrical or electronic means or by electronic
        computer recording means or any other means of recording or presenting words or presenting words or number or any other symbols
        whatsoever which exist and/or are utilized at the Bank.

         

        For avoidance of doubt, in no event shall
        the Bank provide us with any books and records with respect to Customer if doing so is prohibited by any applicable law or regulation.

	 	 	 
	TAX GROSS UP AND
    SETOFF	23.	We shall make all
    payments to be made by us under this Guarantee without any deduction or withholding for or on account of any tax (together,
    a     “Tax Withholding”) unless a Tax Withholding is required by law. We shall promptly upon becoming aware that
    we must     make a Tax Withholding (or that there is any change in the rate or the basis of a Tax Withholding) notify the
    Bank     accordingly. If a Tax Withholding is required by law to be made by us, the amount of the payment due from us shall
    be     increased to an amount which (after making any Tax Withholding) leaves an amount equal to the payment which would
    have     been     due if no Tax Withholding had been required. If we are required to make a Tax Withholding, we shall make
    that Tax Withholding and any     payment required     in connection with that Tax Withholding within the time allowed and in
    the minimum     amount required by     law. Within 30 days of     making either a Tax Withholding or any payment required in
    connection with     that Tax Withholding,     we shall deliver to the Bank     evidence satisfactory to the Bank that the Tax
    Withholding has     been made or (as applicable)     any appropriate payment has been     paid to the relevant taxing
    authority. All payments     made by us to the Bank under this     Guarantee shall (save insofar as     required by law to the
    contrary) be paid in full     without set-off or     counterclaim.

 

    	 	5	 

     

    

 

	TECHNICAL
    CHANGES	24.	For the avoidance of any doubt and for the purposes of clarification, it is hereby stated that: in the event that for any bureaucratic, administrative or technical reasons, a change shall occur in the number of any account (as such account is included in the definition of “Credit” in this document) or the account is transferred to another branch of the Bank, all the provisions of this Guarantee shall be deemed to relate to the said account pursuant to the new number so given or at the other branch to which the account has been transferred, even in the event that it shall be stated in this document that our Guarantee relates to Credit which the Customer has received in a particular account or at a particular branch.
	 	 	 
	ASSIGNMENT
    OF RIGHTS	25.	This Guarantee may be assigned by the Bank without the need to obtain our prior consent.
	 	 	 
	MUTUALLY
    DEPENDENT, JOINT AND SEVERAL LIABILITY	26.	In the event that the Customer shall have a number of Guarantors, the liability hereunder shall be mutually dependent, jointly and severally, and the Bank shall at its sole discretion, be entitled to collect from any one or more of the Guarantors, the full Guaranteed Amount or any part thereof. The liability of each one of the Guarantors shall not be affected by reason of any of the other Guarantors not having the capacity to be bound as Guarantors, or as a consequence of the Bank releasing them from their liability or returning to them the collateral that they delivered to the Bank.
	 	 	 
	STATUTE
    OF LIMITATIONS	27.	We hereby waive all our rights to plead prescription under any law in force at such time in all matters relating to this Guarantee and we hereby agree that the fact that the Bank does not immediately exercise its rights hereunder or in connection herewith in any given event shall not be deemed a waiver of such rights, nor a consent or acknowledgment by the Bank, nor shall it be deemed to create any precedent and the Bank shall be entitled to exercise the rights deriving from this document and/or in connection herewith and/or the law at such time as it may deem fit.
	 	 	 
	RATIFICATION	28.	We hereby undertake to sign all such documents and forms as the Bank may require, if and insofar as under any or some of the laws of the State of Israel, our signing of any such document or form is or shall be deemed to be required, at the Bank’s sole discretion, in order to make the present document fully valid and effective. In compliance with the provisions of this Clause, we hereby appoint the Bank as our principal attorney, either itself or through such person to whom the Bank may delegate its powers, to sign all such documents and forms as may be requested by the Bank, and the Bank or any party acting on its behalf shall in no way be liable to us in respect of any act or omission whatsoever made thereby under or by virtue of this Clause. The said appointment shall be irrevocable as the rights of the Bank are dependent thereon and full consideration has been given by the Bank therefor by the Bank advancing the Credit to the Customer.
	 	 	 
	NOTICES	29.	Any notice, demand, request, consent, approval, declaration, or other communication hereunder shall be deemed to have, been duly given or served on the date on which personally delivered, or - if mailed to us by the Bank through the post by registered or ordinary mail to the addresses set out below or to such other address in Israel of which we shall notify the Bank in writing shall be deemed to have been duly received by the addressee five (5) business days after the date of delivery of the letter for dispatch. A written statement by the Bank shall constitute sufficient proof of the time and posting of the notice.
	 	 	 
	STAMPING
    AND EXPENSES	30.	Stamp duty payable in respect of this Guarantee and all such other expenses as relate to the enforcement hereof or the realization of any collateral delivered in connection herewith, including the Bank’s advocate’s fees, shall be borne by us and secured by this Guarantee.
	 	 	 
	WAIVER
    OF PRIOR NOTICE	31.	We hereby waive the need for dispatching any notarial or other warnings in all matters in connection with this Guarantee.
	 	 	 
	GOVERNING
    LAW AND JURISDICTION	32.	The laws of the State of Israel shall govern this Guarantee and we hereby agree that the city of Tel Aviv-Jaffa, State of Israel, shall be the place of jurisdiction for the purposes of this Guarantee, provided that the Bank shall be entitled to institute proceedings against us in any such other competent court as it may deem fit.
	 	 	 
	MARGINAL
    NOTES	33.	The marginal notes in this Guarantee have been inserted for ease of reference only and shall not be utilized as a means of interpreting the intentions of the parties or the interpretation of this Guarantee.

 

    	 	6	 

     

    

 

	ADDENDA	34. 	SPECIAL CONDITIONS:	 
	 	 	 
	 	 	 
	 	 	 

 

IN WITNESS WHEREOF
THE PARTIES HERETO HAVE HEREUNTO EXECUTED THIS GUARANTEE ON THIS

19th DAY OF July
2017

 

NAME OF GUARANTORS

 

	Date	 	Name
    of Guarantor	 	Address
    (in Israel

    only)	 	Company/Id.
    No.	 	Signature
	 	 	 	 	 	 	 	 	
	19.7.17	 	Itamar Medical Inc.	 	 	 	 	 	/s/ Itamar Medical Inc.
	 	 	 	 	 	 	 	 	

 

VERIFICATION OF GUARANTORS SIGNATURES

 

I, the undersigned, hereby verify that
the Guarantor/s whose names appear hereunder, have signed before me on the dates stipulated above next to their names/signatures
on this Guarantee and have been identified by me in accordance with an identification document and I have explained to them the
contents and significance of this Guarantee after they have confirmed to me that they have read it.

 

	Name of Guarantor*	 	Bank Officer’s

Full Name	 	Position	 	Bank Officer’s Signature	 	Date of Bank

Officer of

Signature
	 	 	 	 	 	 	 	 	 
	Itamar Medical Inc.	 	Moran Aviv	 	 	 	/s/ Moran Aviv	 	19.7.17
	 	 	 	 	 	 	 	 	 

 

		*	First and Surname/Corporate Name (In case of corporate
Guarantor - in addition, the name of the authorized signatory signing on behalf of the Corporation must be completed

 

    	 	7	 

     

    

 

Execution Copy

 

UNLIMITED SECURITY AGREEMENT

 

THIS SECURITY AGREEMENT (“Security
Agreement”) is made and entered into as of the 19th day of July, 2017 (the “Execution
Date”) by and between Itamar Medical Inc., a Delaware Corporation, from _________________________________ USA (“Guarantor”), and
Mizrahi Tefahot Bank Ltd., Israel (the “Bank”).

 

WHEREAS Itamar Medical Ltd., the
parent company of Guarantor (“Affiliated Company”) has, or may have, obtained in the past, pursuant to previous
agreements and transactions with the Bank, and intends to obtain - in the future - additional credit lines, loans, banking facilities,
credit and other miscellaneous banking services from the Bank (hereinafter jointly and severally referred to as the “Banking
Service(s)”) on such terms as have been and/or are in future from time to time agreed in respect of each Banking Service;
and

 

WHEREAS in order to induce the Bank
to provide the Banking Services to the Affiliated Company, and in consideration of the Bank’s agreement to extend such Banking
Services to the Affiliated Company, it has been agreed between the Guarantor and the Bank that the Guarantor will guarantee all
of the Affiliated Company’s debts and liabilities to the Bank of any kind whatsoever related to the Banking Services, whether
in Israeli currency, in United States Dollars, or in any other currency whatsoever, all as set forth in the Guarantee Agreement
entered into between the parties hereto, dated July 19th, 2017 (the “Guarantee Agreement”), and will
secure all of its undertakings and obligations, all as set out in this Security Agreement below;

 

NOW, THEREFORE, in consideration
of the premises and of the mutual covenants herein contained and for other good and valuable consideration, the receipt of which
is hereby acknowledged, the parties hereto agree as follows:

 

1. Defined Terms. The following
terms shall have the following meanings (such meanings being equally applicable to both the singular and plural forms of the terms
defined):

 

“Accounts” shall mean
any “account,” as such term is defined in section 9-102(a)(2) of the UCC, now owned or hereafter acquired by the Guarantor
and, in any event, shall include, without limitation, all accounts receivable, book debts, and other forms of obligations now owned
or hereafter received or acquired by or belonging or owing to the Guarantor (including, without limitation, under any trade names,
styles, or divisions thereof) whether arising out of goods sold or services rendered by the Guarantor or from any other transaction,
whether or not the same involves the sale of goods or services by the Guarantor (including, without limitation, any such obligation
that might be characterized as an account or contract right under the UCC) and all of the Guarantor’s rights in, to, and
under all purchase orders or receipts now owned or hereafter acquired by it for goods or services, and all of the Guarantor’s
rights to any goods represented by any of the foregoing (including, without limitation, unpaid seller’s rights of rescission,
replevin, reclamation, and stoppage in transit, and rights to returned, reclaimed, or repossessed goods), and all moneys due or
to become due to the Guarantor under all contracts for the sale of goods or the performance of services or both by the Guarantor
(whether or not yet earned by performance on the part of the Guarantor or in connection with any other transaction), now in existence
or hereafter occurring, including, without limitation, the right to receive the proceeds of such purchase orders and contracts,
and all collateral security and guaranties of any kind given by any person or entity with respect to any of the foregoing.

 

     

     

    

 

“Chattel Paper” shall
mean any “chattel paper,” as such term is defined in section 9-102(a)(11) of the UCC, now owned or hereafter acquired
by the Guarantor.

 

“Collateral” shall have
the meaning assigned to such term in Section 5 of this Security Agreement.

 

“Contracts” shall mean
all contracts, undertakings, or other agreements (other than rights evidenced by Chattel Paper, Documents, or Instruments) under
which the Guarantor may now or hereafter have any right, title or interest, including, without limitation, with respect to an Account,
any agreement relating to the terms of payment or the terms of performance thereof.

 

“Copyrights”
shall mean all of the following now or hereafter acquired by the Guarantor: (i) all copyrights, registrations, and
applications therefor; (ii) all renewals and extensions thereof; (iii) all income, royalties, damages, and payments now and
hereafter due or payable or both with respect thereto, including, without limitation, damages and payments for past or future
infringements or misappropriations thereof; (iv) all rights to sue for past, present, and future infringements or
misappropriations thereof; and (v) all other rights corresponding thereto throughout the world.

 

“Deposit Accounts” shall
mean any “deposit account” as such term is defined in section 9-102(a)(29) of the UCC, now owned or hereafter acquired
by the Guarantor.

 

“Documents” shall mean
any “documents,” as such term is defined in section 9-102(a)(30) of the UCC, now owned or hereafter acquired by the
Guarantor.

 

“Equipment” shall mean
any “equipment,” as such term is defined in section 9-102(a)(33) of the UCC, now owned or hereafter acquired by the
Guarantor and, in any event, shall include, without limitation, all machinery, equipment, furnishings, fixtures, vehicles, computers,
and other electronic data-processing and other office equipment now owned or hereafter acquired by the Guarantor and any and all
additions, substitutions, and replacements of any of the foregoing, wherever located, together with all attachments, components,
parts, equipment, and accessories installed thereon or affixed thereto.

 

“Event of Default” shall
mean any Event of Default as defined in Section 10 herein.

 

“General Intangibles” shall
mean any “general intangibles,” as such term is defined in section 9-102(a)(42) of the UCC, now owned or hereafter
acquired by the Guarantor and, in any event, shall include, without limitation, all right, title, and interest that the Guarantor
may now or hereafter have in or under any Contract, all customer lists, Copyrights, Trademarks, Patents, rights in intellectual
property, Licenses, permits, Trade Secrets, proprietary or confidential information, inventions (whether patented or patentable
or not), technical information, procedures, designs, knowledge, know-how, software, data bases, data, skill, expertise, experience,
processes, models, drawings, materials, and records now owned or hereafter acquired by the Guarantor, goodwill, and rights of indemnification.

 

    	 	2	 

     

    

 

“Hereby,” “herein,”
 “hereof,” “hereunder” and words of similar import refer to this Security Agreement as a whole (including,
without limitation, any schedules hereto) and not merely to the specific section, paragraph, or clause in which the respective
word appears.

 

“Instruments” shall
mean any “instrument,” as such term is defined in section 9-102(a)(47) of the UCC, now owned or hereafter acquired
by the Guarantor, other than instruments that constitute, or are a part of a group of writings that constitute, Chattel Paper.

 

“Intellectual Property”
shall mean all of the Copyrights, Licenses, Patents, Trademarks, and Trade Secrets of Guarantor.

 

“Inventory” shall mean
all “inventory,” as such term is defined in section 9-102(a)(48) of the UCC, now owned or hereafter acquired by the
Guarantor and, in any event, shall include, without limitation, all inventory, merchandise, goods, and other personal property
now owned or hereafter acquired by the Guarantor which are held for sale or lease or are furnished or are to be furnished under
a contract of service or which constitute raw materials, work in process, or materials used or consumed or to be used or consumed
in the Guarantor’s business, or the processing, packaging, delivery, or shipping of the same, and all finished goods.

 

“Investment Property” means
(i) a security, whether certificated or uncertificated, (ii) a security entitlement, (iii) a securities account, (iv) a commodities
contract, or (v) a commodities account, all as defined in Article 9 of the UCC.

 

“License” shall mean
any Patent License, Trademark License, or other license as to which the Bank has been granted a security interest hereunder.

 

“Liens” shall mean,
with respect to any asset, (a) any mortgage, deed of trust, lien, pledge, hypothecation, encumbrance, charge or security interest
in, on or of such asset, (b) the interest of a vendor or a lessor under any conditional sale agreement, capital lease or title
retention agreement (or any financing lease having substantially the same economic effect as any of the foregoing) relating to
such asset and (c) in the case of securities, any purchase option, call or similar right of a third party with respect to such
securities.

 

“Patent License” shall
mean any written agreement granting any right to practice any invention on which a Patent is in existence, now owned or hereafter
acquired by the Guarantor.

 

“Patents” shall mean
all of the following now or hereafter acquired by the Guarantor: (i) all patents and patent applications throughout the world,
whether arising under U.S. federal law, state law, common law or the law of any other jurisdiction; (ii) all inventions and improvements
described and claimed therein; (iii) all reissues, divisions, continuations, renewals, extensions, and continuations-in-part thereof;
(iv) all income, royalties, damages and payments now and hereafter due and/or payable to the Guarantor with respect thereto, including,
without limitation, damages and payments for past, present or future infringements or misappropriations thereof; (v) all rights
to sue for past, present, and future infringements or misappropriations thereof; and (vi) all other rights corresponding thereto
throughout the world.

 

    	 	3	 

     

    

 

“Proceeds” shall mean
 “proceeds,” as such term is defined in section 9-102(a)(64) of the UCC and, in any event, shall include, without limitation,
(i) any and all proceeds of any insurance, indemnity, warranty or guaranty payable to the Guarantor from time to time with respect
to any of the Collateral; (ii) any and all payments (in any form whatsoever) made or due and payable to the Guarantor from time
to time in connection with any requisition, confiscation, condemnation, seizure, or forfeiture of all or any part of the Collateral
by any governmental body, authority, bureau, or agency (or any person acting under color of governmental authority); and (iii)
any and all other amounts from time to time paid or payable under or in connection with any of the Collateral.

 

“Secured Sums” shall
have the meaning defined in Section 2 herein.

 

“Security Agreement” shall
mean this Security Agreement, as the same may from time to time be amended, modified, or supplemented pursuant to Section 19 of
this Security Agreement, and shall refer to this Security Agreement as in effect on the date such reference becomes operative.

 

“Trade Secrets” shall
mean trade secrets, along with any and all (i) income, royalties, damages, and payments now and hereafter due and/or payable to
the Guarantor with respect thereto, including, without limitation, damages and payments for past or future infringements or misappropriations
thereof; (ii) rights to sue for past, present, and future infringements or misappropriations thereof; and (iii) all other rights
corresponding thereto throughout the world.

 

“Trademark License” shall
mean any written agreement granting any right to use any Trademark or Trademark registration, now owned or hereafter acquired by
the Guarantor.

 

“Trademarks”
shall mean all of the following now owned or hereafter acquired by the Guarantor: (i) all trademarks (including service marks
and trade names, whether registered or at common law), registrations and applications therefor, and the entire product lines and
goodwill of the Guarantor’s business connected therewith and symbolized thereby; (ii) all renewals thereof; (iii) all income,
royalties, damages, and payments now and hereafter due or payable or both with respect thereto, including, without limitation,
damages and payments for past, present, or future infringements or misappropriations thereof; (iv) all rights to sue for past,
present, and future infringements or misappropriations thereof; and (v) all other rights corresponding thereto throughout the
world.

 

“UCC” shall mean the
Uniform Commercial Code as the same may, from time to time, be in effect in the State of Delaware; provided, however, in the event
that, by reason of mandatory provisions of law, any or all of the attachment, perfection or priority of security interest in any
Collateral is governed by the Uniform Commercial Code as in effect in a jurisdiction other than the State of Delaware the term
 “UCC” shall mean the Uniform Commercial Code as in effect in such other jurisdiction for purposes of the provisions
hereof relating to such attachment, perfection, or priority and for purposes of definitions related to such provisions.

 

    	 	4	 

     

    

 

2. Secured Obligations.
This Unlimited Security Agreement has been executed to secure the full and punctual payment of all the amounts, whether in New
Israeli Shekels, in United States Dollars or in any foreign currency, now and in future due to the Bank from the Guarantor and/or
from the Affiliated Company, in any manner or way and for any reason, whether or not the amounts are due from the Affiliated Company
in connection with the provision of the Banking Services, whether due from the Affiliated Company alone or together with others,
whether the Affiliated Company has already become liable for them or becomes liable for them in the future, as debtor and/or guarantor
and/or otherwise (including the Affiliated Company’s liability in accordance with bills that have been or are in the future
delivered to the Bank either by the Affiliated Company or by third parties for discounting or as security and/or pursuant to any
other liability of the Affiliated Company to the Bank), that are now and/or in future due, payable prior to or after realization
of the collateral hereby given, absolutely or contingently due, pursuant to the Affiliated Company’s original obligation
or formulated in a court judgment or otherwise, in an unlimited amount, plus any and all accrued interest, commissions and all
expenses whatsoever, including the costs of realization, advocates’ professional fees, insurance fees and other payments
pursuant to this Security Agreement, with the addition of any sums of any type now or in the future due from the Affiliated Company
to the Bank in any way in respect or as a result of linkage to any index or rate of exchange, including, without limitation, any
such linked principal and linked interest (all the foregoing amounts being hereinafter referred to as the “Secured Sums”).

 

3. Realization of Collateral. Upon
the following, the Bank shall be entitled to exercise all rights and remedies of a secured party under the UCC, and may collect,
receive, appropriate, and realize upon the Collateral, or any part thereof, and/or may forthwith sell, lease, assign, give an option
or options to purchase, or sell or otherwise dispose of and deliver such Collateral (or contract to do so), or any part thereof,
and all such proceeds shall be used to pay the Bank all of the Secured Sums:

 

(a) on the due date of the Secured Sums
(or any part thereof), if it has been agreed between the Bank and the Affiliated Company that the particular amount is payable
on a particular date (giving effect to any grace periods as agreed between the Bank and the Affiliated Company or the Guarantor
in writing), and the Affiliated Company has not paid such Secured Sums;

 

(b) at the end of ten (10) days from the
date of receipt by Guarantor of the Bank’s first written demand to the Guarantor, if a due date has not been agreed as provided
in paragraph (a) above, if such Secured Sums have not been paid by Affiliated Company;

 

(c) the occurrence of an Event of Default.

 

    	 	5	 

     

    

 

4. Interest.

 

(a) The Bank shall compute interest on
the Secured Sums at such rate as has been or is in future from time to time agreed between it and the Affiliated Company. In cases
in which the interest rate has not been agreed, the Bank may fix the interest rate for any part of the Secured Sums for which the
Affiliated Company and Bank have not agreed on an interest rate, and give notice thereof to the Affiliated Company in accordance
with interest rates customary at the Bank at such time. The Affiliated Company and/or Guarantor shall be charged such interest
rates as aforesaid and the Bank may add them to principal at the end of each quarter or at the end of any other period, as determined
by it.

 

(b) In an event of default in payment of
all or any of the Secured Sums, they shall bear default interest at the rate agreed upon in the agreement for the provision of
the Banking Services. In the absence of a provision with regard to default interest in those agreements, the Secured Sums shall
bear interest at the maximum rate prevailing at the Bank in respect of unauthorized withdrawals and defaults on an approved overdraft
account, but not less than 2% (two percent) more than the interest rate fixed in the agreement for the provision of any
Banking Service.

 

(c) In the event that the Bank becomes
entitled to realize the Collateral under this Security Agreement it may increase the interest rates of the Secured Sums, commencing
at such time when the Bank becomes entitled to realize the Collateral to the maximum rate prevailing at the Bank in respect of
unauthorized withdrawals and defaults on an approved overdraft account.

 

5. Grant of Security Interest.

 

		(a)	As collateral
                                         security for the punctual and full payment and performance when due (whether at stated
                                         maturity, by acceleration, or otherwise) of all the Secured Sums, and to induce the Bank
                                         to provide the Banking Services to the Affiliated Company, the Guarantor hereby grants
                                         to the Bank, a first priority lien on, and security interest in, to, and under the following
                                         property, now owned or hereafter acquired by the Guarantor (all of which being hereinafter
                                         collectively called the “Collateral”):

 

		(i)	all
                                         Accounts, including, without limitation, all accounts receivable set forth in Schedule
                                         A attached hereto;

 

		(ii)	all Chattel Paper;

 

		(iii)	all Contracts;

 

		(iv)	all Copyrights;

 

		(v)	all Deposit Accounts other than the Deposit Accounts identified
on Schedule I attached hereto;

 

		(vi)	all Documents;

 

		(vii)	all Equipment;

 

    	 	6	 

     

    

 

 

		(viii)	all General Intangibles;

 

		(ix)	all Instruments;

 

		(x)	all Inventory;

 

		(xi)	all Investment Property;

 

		(xii)	all Patents;

 

		(xiii)	all Patent Licenses;

 

		(xiv)	all Trademarks;

 

		(xv)	all Trade Secrets;

 

		(xvi)	all Trademark Licenses;

 

		(xvii)	the Company’s goodwill, as currently and at any time
in future existing;

 

		(xviii)	all other goods and personal property of the Guarantor
whether tangible or intangible or whether now owned or hereafter acquired by the Guarantor and wherever located; and

 

		(xix)	to the extent not otherwise included, all Proceeds of each
of the foregoing and all accessions to, substitutions, and replacements for, and rents, profits and linkage thereon, and products
of each of the foregoing.

 

		(xx)	any and all
                                         Intellectual Property owned or that shall be owned by the Guarantor, or to which it is
                                         or shall be entitled or that it possesses or shall possess any proprietary or other rights
                                         thereto, by virtue of any law, agreement or any other source whatsoever, including without
                                         limitation all Intellectual Property listed in Schedule B, including but
                                         not limited to all information or materials in any shape or form, relating to research,
                                         development, specifications, formulas, algorithms, prototypes, computer programs, records,
                                         data, designs, concepts, ideas, methods, techniques, processes, samples, trade secrets,
                                         analyses, materials, patents, pending patent applications, registered trademarks, pending
                                         trademark applications, and applications for registration, other data and information,
                                         as well as any improvements and derivatives thereof; and any and all Proceeds of the
                                         foregoing and all accessions to, substitutions, and replacements for, and rents, profits,
                                         and products of the foregoing.

 

The Guarantor
hereby confirms that the list attached hereto as Schedule B, constitutes all of the Guarantor’s Intellectual
Property, including all patents, pending patent applications, registered trademarks, pending trademark applications, and applications
for registration, to this date.

 

    	 	7	 

     

    

 

		(b)	The Guarantor
                                         agrees to deliver promptly or cause to be delivered to the Bank all Pledged Shares, and
                                         any and all certificates or other instruments or documents representing any of the Collateral
                                         (together with any necessary endorsement). All Pledged Shares delivered to the Bank shall
                                         be accompanied by undated stock powers duly executed in blank (in form as attached in
                                         Schedule C) or other instruments of transfer satisfactory to the Bank and
                                         by such other instruments and documents as the Bank may reasonably request. Such stock
                                         powers and other documents and instruments shall be held by the Bank in escrow and may
                                         be executed by the Bank - at its sole and absolute discretion - only upon the occurrence
                                         of an Event of Default.

 

		(c)	Upon signing
                                         this Agreement, and each time Schedule A is updated, Guarantor shall execute and deliver
                                         to bank, in a form as attached hereto in Schedule D, a specific assignment
                                         of such accounts of borrower listed in Schedule A.

 

		(d)	The security interest that has been given to the Bank pursuant
to this Security Agreement is of perpetual character notwithstanding settlement of all or any of the Affiliated Company’s
accounts and it shall remain in force until this Security Agreement is terminated pursuant to the provisions of Section 14 below.

 

		(e)	Should the Bank have or in future be given collateral or
guarantees for payment of the Secured Sums, all the collateral and guarantees shall be independent of each other.

 

		(f)	Should the Bank compromise with or grant forbearance or
a concession to the Affiliated Company, or should the Bank alter the Affiliated Company’s obligations in connection with
the Secured Sums or release or waive other collateral or guarantees, the same shall not alter the nature of the collateral created
pursuant to this Security Agreement and all the collateral and obligations of the Guarantor pursuant to this Security Agreement
shall remain in full force and effect in accordance with the terms of the Security Agreement.

 

		(g)	The Bank shall have rights of possession, lien and set-off
over all the amounts, assets and rights, including securities, currency, gold, bank notes and documents for goods, insurance policies,
bills, checks, obligations, deposits, collateral and the proceeds thereof, that are at the Bank at any time to or for the credit
of the Guarantor, including those given for collection, security, safe keeping or otherwise. The Bank may withhold the said assets
until full discharge of the Secured Sums or sell them and apply all of the proceeds of sale to the discharge of the Secured Sums,
in accordance with the terms of this Security Agreement.

 

		(h)	The Bank may at any time charge any of Guarantor’s
accounts held with it with any outstanding amount now or in future due to it from the Guarantor and apply the entire amount that
it receives from or for the Guarantor to the credit of such amount as it deems fit, and transfer any amount standing to the Guarantor’s
credit in any account with it to any other account with it as the Bank deems fit.

 

6. Rights of the Bank; Limitations on
the Bank’s Obligations.

 

(a) The Bank shall have no obligation or
liability under any contract by reason of or arising out of this Security Agreement or the granting to the Bank of a security interest
therein or the receipt by the Bank of any payment relating to any contract pursuant hereto, nor shall the Bank be required or obligated
in any manner to perform or fulfill any of the obligations of the Guarantor under or pursuant to any contract, or to make any payment,
or to make any inquiry as to the nature or the sufficiency of any payment received by it or the sufficiency of any performance
by any party under any contract, or to present or file any claim, or to take any action to collect or enforce any performance or
the payment of any amounts which may have been assigned to it or to which it may be entitled at any time or times.

 

    	 	8	 

     

    

 

(b) So long as no Event of Default shall
have occurred, the Guarantor shall be entitled to exercise all voting rights pertaining to the Pledged Shares and to give consents,
waivers and ratifications in respect thereof, provided however that the Guarantor shall not vote or give any consent, waiver, or
ratification if the effect thereof would in the reasonable judgment of the Bank impair the stock secured or pledged hereby or be
inconsistent with or result in any violation of the provisions of this Security Agreement, and Guarantor shall notify the Bank
regarding any shareholder action that may impair the Bank’s rights under this Security Agreement and the Bank shall have
the exclusive right to vote any and all of the Pledged Shares and to give consents, waivers and ratifications in respect thereof,
and the Guarantor shall deliver to the Bank such proxies or other documents and instruments as the Bank may request to further
effectuate the foregoing. After the occurrence and during the continuance of an Event of Default, the Bank shall have the exclusive
right to vote any and all of the Pledged Shares and to give consents, waivers and ratifications in respect thereof, and the Guarantor
shall deliver to the Bank such proxies or other documents and instruments as the Bank may request to further effectuate the foregoing.
For these purposes, the Guarantor designates and appoints the Bank as the Guarantor’s agent and attorney-in-fact for purposes
of executing such documents and instruments as the Bank may consider necessary or appropriate for purposes of implementing this
Agreement. The foregoing designation and appointment is irrevocable and coupled with an interest.

 

(c) The Bank shall not be liable for failure
to collect or realize upon the Collateral, or for any delay in so doing, nor shall it be under any obligation to take any action
whatsoever with regard thereto. If an Event of Default has occurred and had not been cured during the applicable cure period, the
Bank may thereafter, without notice, exercise all rights, privileges or options pertaining to any Pledged Shares and/ or to the
Collateral as if it were the absolute owner thereof, upon such terms and conditions as it may determine, all without liability
except to account for property actually received by it, but the Bank shall have no duty to exercise any of the aforesaid rights,
privileges or options and shall not be responsible for any failure to do so or delay in so doing.

 

7. Representations and Warranties.
The Guarantor hereby represents and warrants that:

 

(a) Except for the security interest granted
to the Bank pursuant to this Security Agreement, the Guarantor is the sole owner of each item of the Collateral in which it purports
to grant any interest hereunder, having good and marketable title and unlimited rights thereto, free and clear of any and all Liens,
assignments, restrictions, and any current or future rights whatsoever.

 

(b) No effective security agreement, financing
statement, equivalent security or lien instrument, or continuation statement covering all or any part of the Collateral is on file
or of record in any public office, except such as may have been filed by the Guarantor in favor of the Bank pursuant to this Security
Agreement.

 

    	 	9	 

     

    

 

(c) The Affiliated Company is an Israeli
Company. The Affiliated Company’s registered office is at 9 Halamish Street, P.O. Box 3579, Caesarea 3088900, Israel. Guarantor
is a fully- held subsidiary of the Affiliated Company, on a fully diluted and as-converted basis.

 

(d) Guarantor’s exact legal name
is as set forth in the preamble to this Agreement and Guarantor is not generally known by or using any fictitious or other name
or trade name or style. Guarantor’s address is at 3290 Cumberland Club Drive, Suite 100, Atlanta, GA 30339, USA. Guarantor’s
address in Israel, to which any and all documents could legally be delivered, is at _________________, Israel.

 

(e) There is no legal, contractual or other
restraint or condition prohibiting the transfer, charge or pledge of the Collateral, or of any part thereof

 

(f) Guarantor is entitled to pledge or
charge the Collateral pursuant to this Security Agreement.

 

(g) No assignment of right or other transaction
has been made that derogates from the value of the Collateral as in effect on the date of this Security Agreement.

 

(h) Guarantor has
received the necessary consents and/or waivers (if any) from its directors and stockholders pursuant to the certificate of incorporation
and by-laws of Guarantor or the various investment agreements. A copy of the resolutions of the Guarantor’s board of directors
and shareholders’ meetings approving the execution of this agreement and the grant of a security interest under the terms
and conditions herein are attached hereto as Schedule E. No additional consents or waivers are necessary.

 

(i) Upon the appropriate UCC Financing
Statements having been filed in the State of Delaware, this Security Agreement is effective to create and perfect a valid and continuing
first priority charge on, and first priority perfected security interest in, the Collateral, with respect to which a security interest
may be perfected by filing pursuant to the UCC, in favor of the Bank, prior to all other Liens, and is enforceable as such against
creditors.

 

(j) Upon the appropriate filings and/or
statements having been filed with the United States Patent and Trademark Office (“USPTO”) if and to the extent applicable,
and upon the filings of the UCC Financing Statement in the state of [Delaware], this Security Agreement is effective to create
and perfect a valid and continuing first priority security interest in, and/or floating charge on, the respective Intellectual
Property that is pledged in favor of the Bank, if any, prior to all other Liens, and is enforceable as such against creditors.
As of the date of Execution of this Agreement, the Guarantor hereby represents and warrants that it is not the owner of any Patents
or Trademarks.

 

    	 	10	 

     

    

 

(k) Upon entering
into the Account Control Agreement, attached hereto as Schedule F, and upon the filings of the UCC Financing Statement
in the state of Delaware, this Security Agreement is effective to create and perfect a valid and continuing , first priority security
interest in, and/or floating charge on the Deposit Accounts in favor of the Bank, prior to all other Liens, and is enforceable
as such against creditors, all subject to applicable bankruptcy, insolvency, reorganization or other similar laws generally affecting
the enforcement of the rights of creditors and equitable principles (regardless of whether enforcement is sought in equity or
at law).

 

(l) Except for the filing of Financing
Statements under the UCC and the filing of this Agreement with the USPTO, if and to the extent applicable, and entering into the
attached Account Control Agreement no authorization, approval or other action by, and no notice to or filing with, any governmental
or regulatory authority, agency or office is required for the grant by the Guarantor or the effectiveness of the first priority
security interest granted hereby or for the execution, delivery and performance of this Agreement by the Guarantor.

 

(m) The Guarantor is the owner and/or holds
the rights of use under license or agreement, of all the intellectual property currently used for the purpose of its business;
and

 

(n) The Guarantor is not currently in breach
and there are no proceedings against it in connection with any breach of any intellectual property rights of any third party

 

8. Covenants. The Guarantor covenants
and agrees with the Bank that from and after the date of this Security Agreement and until this Security Agreement is terminated
pursuant to Section 14 below, unless compliance is waived by the Bank in writing:

 

(a) Guarantor shall properly preserve the
Collateral. On the date hereof and as of the date of any future delivery of Collateral to the Bank and at all times until the security
interests granted by this Agreement are terminated pursuant to Section 14 hereof: (A) the Guarantor shall maintain ownership of
such Collateral, unless conveyed during the ordinary course of business, subject to no adverse claim (including any lien, encumbrance
or claim of legal or beneficial ownership), except the lien and security interest in favor of the Bank; (B) the Guarantor shall
provide that at all times it will have full power, authority and legal right to pledge the Collateral to the Bank hereunder, and
no consent, approval or other authorization of any person or governmental authority is required (except those which have been obtained)
in connection therewith; and (C) the lien of this Agreement constitutes and will constitute a first priority perfected security
interest in the Collateral in favor of the Bank.

 

(b) Guarantor shall notify the Bank forthwith
of the imposition of an attachment over the Collateral and/or any of it, and forthwith notify the attacher of the charge in favor
of the Bank and at the Guarantor’s expense forthwith and without delay take all steps in order to remove the attachment.
If the Guarantor does not take such steps as aforesaid the Bank may (but need not) take all steps to remove the attachment, and
the Guarantor shall be liable immediately to pay the Bank all actual and reasonable expenses involved therein (including the professional
fees of the Bank’s advocates);

 

    	 	11	 

     

    

 

(c) Guarantor shall not create any other
lien or charge over the Collateral or any of it, and shall not assign and/or license (other than a limited license or similar type
of commercial agreement entered into in the ordinary course of business) any right that the Guarantor has in the Collateral without
obtaining the Bank’s prior written consent which shall not be unreasonably withheld;

 

(d) The Guarantor shall not issue shares
in aggregate constituting more than 10% of the issued share capital to any other shareholder, without the Bank’s prior written
consent; provided, however, that any shares issued under such threshold shall not be superior to the Shares issued to the Affiliated
Company, and shall only be of the classes of stock currently existing at the time of this Agreement.

 

(e) None of the tangible components of
the Collateral shall be maintained at locations other than in the address as stated above or otherwise leased by Guarantor and/or
by Affiliated Company. In the event that Guarantor, after the date hereof, intends to store or otherwise deliver any portion of
the Collateral to a bailee, then Guarantor will first receive the written consent of the Bank, and such bailee must acknowledge
in writing that the bailee is holding such Collateral for the benefit of the Bank, all inventory is in all material respects of
good and marketable quality, free from material defects.

 

(f) Guarantor shall be responsible for
the genuineness and accuracy of all signatures, endorsements and particulars on bills, documents and securities that have been
and/or are in future given to the Bank by Guarantor as collateral;

 

(g) Guarantor shall pay on due date all
the taxes, municipal rates, levies and other mandatory payments legally imposed over the Collateral and shall furnish the Bank,
on demand, with all the receipts for such payments, and if the Guarantor does not duly make such payments, the Bank may make them
at the Guarantor’s expense and charge it the payments, plus expenses and interest at the then maximum rate-prevailing at
the Bank in respect of unauthorized withdrawals and defaults on an approved overdraft account. Those payments are secured by this
Security Agreement;

 

(h) Guarantor shall keep books of account
and permit the Bank or its representative at any time, upon a reasonable prior notification to Guarantor, during normal business
hours and subject to customary non-disclosure restrictions, to examine the Guarantor’s books.

 

(i) Guarantor undertakes to assist the
Bank or its representatives and to give them on demand balance sheets, documents and any information reasonably required by the
Bank, including explanations in connection with the financial and operational state of the Guarantor, its subsidiaries, and/or
its business;

 

(j) There shall be no material change to
the business of the Guarantor or its subsidiaries (if any) without the Bank’s prior written consent.

 

    	 	12	 

     

    

 

(k) At the sole expense of the Guarantor,
the Guarantor will promptly, but no later than 15 days after the Execution Date to file a UCC-1 Financing Statement in substantially
the form of Schedule G (the “UCC Financing Statement”) and any additional necessary and required
financing statements under the UCC with respect to the Liens and security interests granted hereby. Guarantor will also promptly,
following the request of the Bank, duly execute and deliver any and all such further instruments and documents and take such further
action as the Bank may reasonably deem desirable to obtain the full benefits of this Security Agreement and of the rights and powers
herein granted. The Guarantor shall file all necessary continuation statements from time to time under the applicable provisions
of Article 9 of the UCC in order to maintain the perfection of the Collateral. The Guarantor also hereby authorizes the Bank to
file any such financing statement or continuation statement (including a notice that any disposition of the Collateral, by either
the Debtor or any other Person, shall be deemed to violate the rights of Lenders under the Code) without the signature of the Guarantor
to the extent permitted by applicable law.

 

(l) At the sole expense of the Guarantor,
the Guarantor will promptly, but no later than 30 days after the Execution Date, record a security interest with the USPTO, if
and to the extent applicable, including, inter alia, file this Agreement and any additional necessary and required filings
and/or statements with respect to the Liens and security interests granted hereby, with the USPTO. Guarantor will also promptly,
following the request of the Bank, duly execute and deliver any and all such further instruments and documents and take such further
action as the Bank may reasonably deem desirable to obtain the full benefits of this Security Agreement and of the rights and powers
herein granted. The Guarantor also hereby authorizes the Bank to file any such documents without the signature of the Guarantor
to the extent permitted by applicable law;

 

(m) The Guarantor will promptly, but no
later than 3 business days from the Execution Date, enter into the attached Account Control Agreement;

 

(n) Guarantor undertakes not to enter into
any account control agreement with respect to any of its existing or future Deposit Accounts, without the Bank’s prior written
consent.

 

(o) In any suit, proceeding, or action
brought against the Bank by a third party, relating to any part of the Collateral, the Guarantor will save, indemnify, and keep
the Bank harmless from and against all expense, loss, or damage suffered by reason of any defense, setoff, counterclaim, recoupment,
or reduction of liability whatsoever of the obligor thereunder, arising out of a breach by the Guarantor of any obligation thereunder
or arising out of any other agreement, indebtedness, or liability at any time owing to, or in favor of, such obligor or its successors
from the Guarantor, and all such obligations of the Guarantor shall be and remain enforceable against and only against the Guarantor
and shall not be enforceable against the Bank;

 

(p) Guarantor will not create, permit,
or suffer to exist, any Lien on the Collateral, will defend the Collateral against, and take such other action as is necessary
to remove any unauthorized Lien on the Collateral, and will defend the right, title, and interest of the Bank in and to any of
the Guarantor’s rights under the Collateral;

 

    	 	13	 

     

    

 

(q) Guarantor hereby agrees that if the
Guarantor changes its name, its type of organization or its state of organization, the Guarantor will promptly thereafter notify
the Bank in writing of the additions or changes. Guarantor will not change its state of incorporation or its name, identity, or
corporate structure in any manner that might make any financing or continuation statement filed in connection herewith seriously
misleading within the meaning of section 9-503 of the UCC (or any other then applicable provision of the UCC) unless the Guarantor
shall have given the Bank at least thirty (30) days’ prior written notice thereof and shall have taken all action (or made
arrangements to take such action substantially simultaneously with such change if it is impossible to take such action in advance)
necessary or reasonably requested by the Bank to amend such financing statement or continuation statement so that it is not seriously
misleading;

 

(r) Throughout the subsistence of this
Security Agreement, Guarantor undertakes: (i) not to pay its stockholders any loan or funds that the stockholders have lent or
do in future lend to the Guarantor or any funds that they have invested and/or do in future invest in the Guarantor without the
Bank’s prior written consent; (ii) not to declare, pay or set aside dividends on shares of capital stock of itself without
the Bank’s prior written consent; (iii) not to enter into any related party transactions with Affiliated Company; and (iv)
not to enter into any related party transactions with any of Guarantor’s and/or Affiliated Company’s office holders
and/or directors (other than standard and arm’s-length employment agreements and service agreements with Guarantor’s
office holders); provided, however, that limitations (i), (ii) and (iii) shall not apply in the event that (and as long
as) Affiliated Company remains the sole shareholder of Guarantor.

 

(s) Upon the execution
of this Security Agreement by all parties hereto, the Guarantor shall provide the Bank with a written legal opinion of Guarantor’s
Counsel in the form attached hereto as Schedule H.

 

(t) No later than 45 days after the Execution
Date, Guarantor shall provide the Bank with copies of the UCC Financing Statement certifying the filing of the first priority security
interest granted herein;

 

(u) No later than 45 days after the registration
of any Patents or Trademarks with the USPTO, Guarantor shall provide the Bank with an official document evidencing the filing of
a copy of this Agreement with the USPTO, if and to the extent applicable, and certifying the filing of the first priority security
interest in the Intellectual Property, granted herein;

 

(v) Guarantor shall file annual franchise tax report and pay
annual franchise tax which it is required to file under the laws of the State of Delaware on a timely basis;

 

(w) Guarantor shall update the Bank of
its accounts receivable every six months. Upon such notification, Guarantor shall update Schedule A accordingly,
and have the updated schedule re- submitted and re-filed; and

 

(y) In each instance from time to time
on a recurring basis in which the collective account balances of the bank accounts denoted with an asterisk on Schedule I
attached hereto exceed $200,000 in the aggregate, the Guarantor shall no later than seven (7) days thereafter either reduce such
collective balances below $50,000 or proceed to enter into a deposit account control agreement with such depository institution
and the Bank on substantially similar terms to this Agreement.

 

    	 	14	 

     

    

 

(z) The account balance of the “Payroll
Account” set forth on Schedule I attached hereto shall not exceed $500,000 in the aggregate, for a period of more
than seven (7) consecutive days, and shall only be used for payroll purposes.

 

(aa) The account balance in the Certificate
of Deposit account set forth on Schedule I attached hereto shall not exceed $110,000 + accruing interest, in the aggregate,
and shall only be used to secure payments to the Atlanta offices landlord.

 

9. Exchange Rate. Having regard
to the fact that the amounts that are now and in future due to the Bank from the Guarantor on account of the Secured Sums can be
both in Israeli currency and in foreign currency, it is hereby agreed and declared that the Bank, may convert Israeli currency
in their possession to foreign currency as necessary for the full or partial discharge of the Secured Sums that are due to the
Bank in foreign currency and convert foreign currency in their possession to Israeli currency, at the rates of exchange existing
at the time when any such conversions are actually made by either of them.

 

The expression “rate of exchange”
means:

 

(a) in respect of the time when there is
a restraint by Israeli law in respect of the free use of foreign currency in Israel - the highest amount of Israeli currency that
an Israeli resident is required to pay for a unit of the currency of such debt to an entity duly licensed to trade in Israel in
foreign currency, together with the bank commission for such transaction;

 

(b) in respect of the time when there is
no such restraint - the highest price for the purchase of a unit of the currency of such debt existing at the Bank of Israel in
respect of bank telegraphic withdrawals on a city for the time being known as one of the financial centers of the state in which
the currency of the debt is legal tender or in New York, at the option of the Bank, together with the bank commission for such
transaction.

 

10. Events of Default.
Without prejudice to the generality of the provisions of this Security Agreement or any other written agreement between the parties
with respect to the Bank’s right to call for immediate payment of all or any of the Secured Sums, the Bank may in any of
the undermentioned cases (“Events of Default”) call for the immediate payment by the Guarantor of all or any
of the Secured Sums, without prior notice to the Guarantor and/or the Affiliated Company, unless otherwise stated below:

 

(a) if Affiliated Company and/or Guarantor
fails to pay any payment pursuant to any agreement (including the principal amount, interest, linkage, expenses and/or related
fees) to the Bank, when due.

 

(b) if a voluntary winding-up resolution
is passed by the Guarantor and/or the Affiliated Company or if a winding-up order or a suspension of proceedings order is issued
against either of the Guarantor and/or the Affiliated Company by the court or if the court calls a creditors meeting for the purpose
of finding an arrangement with them or if the Guarantor’s and/or the Affiliated Company’s name has been removed or
is about to be removed from any register operated by law;

 

    	 	15	 

     

    

 

(c) if a provisional or permanent receiver,
receiver and manager or liquidator is appointed over Guarantor’s and/or over any of its subsidiaries’ and/or over Affiliated
Company’s material assets or any of them; or if a petition for the appointment of any of the above has been filed by any
party against any asset of either of Guarantor and/or Affiliated Company.

 

(d) if an attachment (temporary or permanent)
covering any obligation is imposed over all or any of the Guarantor’s and/or Affiliated Company’s assets or over any
of the Collateral given by the Guarantor to the Bank or if any act of execution in respect of any obligation is taken against either
of them; provided however that in the case of an attachment that was only registered (and which did not remove any assets), then
only to the extent that the registered attachment has not been revoked or reversed within 60 days thereafter; Such 60 day period
may be shortened by the Bank, if Bank is convinced, upon exercising reasonable judgment, that such delay may impair the Bank’s
rights, or its ability to collect any amounts owed thereto.

 

(e) if Guarantor and/or the Affiliated
Company stops paying its debts to third parties for a period longer than two months;

 

(f) if the Affiliated Company’s business
or a substantial part of it is stopped for three or more weeks, or if Affiliated Company’s business or a substantial part
of it is shut down; Such time period may be shortened by the Bank, if Bank is convinced, upon exercising reasonable judgment, that
such delay may impair the Bank’s rights, or its ability to collect any amounts owed thereto.

 

(g) if Affiliated Company has been declared
as a “Limited Customer” or as a “Severe Limited Customer”, as such terms are defined in the Israeli Checks
Without Cover (bad checks) Law, 1981.

 

(h) if all or a significant portion of
the Affiliated Company’s current assets (inventory) are burned, lost or otherwise damaged, and not replaced with insurance
proceeds; or if all or a significant portion of the Affiliated Company’s fixed assets (including, for avoidance of doubt,
manufacturing lines) are burned, lost or otherwise damaged, and the Affiliated Company does not have sufficient inventory to enable
continuous sales (at least at the same volume as existing prior to such event);

 

(i) if more than $50,000 of the Collateral
value is burned, lost or otherwise damaged and not replaced with insurance proceeds;

 

(j) if there has been a change in the identity
of the security holders and/or of the security - holdings of the Guarantor (except in the event of an initial public offering of
the Guarantor) without the Bank’s prior written approval, or if there has been a change of control in the Affiliated Company
(“control” shall have the meaning ascribed to it in the Israeli Securities Law, 1968);

 

(k) if the Bank, at its reasonable discretion,
takes the view that a material change in the Guarantor’s financial situation has occurred, that may materially impair Guarantor’s
ability to dispose of its payment obligation relating to the Secured Sums;

 

    	 	16	 

     

    

 

(l) if, at the Bank’s reasonable
commercial opinion, there is a material deterioration in the value of the Collateral (excluding deterioration due to foreign currency
exchange rates);

 

(m) if Guarantor and/or the Affiliated
Company is required to accelerate the discharge of debts that it owes to other creditors;

 

(n) if Guarantor materially breaches or
does not perform any of the covenants set forth in this Security Agreement and/or any of the material obligations that are contained
in this Security Agreement and/or any agreement and/or instrument and/or contract made in the past and/or future between the Guarantor
and the Bank and which breach or non-performance is not cured within thirty (30) days of receiving notice, except that Guarantor
shall have an additional sixty (60) days if Guarantor has commenced performance and such performance will require more than thirty
(30) days for compliance; provided, however, that such period may be shortened by the Bank, if Bank is convinced, upon exercising
reasonable judgment, that such delay may impair the Bank’s rights, or its ability to collect any amounts owed thereto.

 

(o) if it transpires that any warranty
of the Guarantor in this Security Agreement and/or any contract made in the past and/or future between Guarantor and the Bank is
incorrect in a material respect and/or inaccurate or incomplete in any material respect;

 

(p) if Guarantor and/or the Affiliated
Company alter any of their charter documents in such manner as to have a material adverse effect on the ability of Affiliated Company
to comply with any of its obligations under the loan agreements, and /or on the ability of Guarantor to comply with any of its
obligations under this Security Agreement;

 

(q) if Guarantor and/or the Affiliated
Company pass a resolution to merge with another company, whether as absorbing or target company (including, for avoidance of doubt,
any action as a result of which Guarantor and/or Affiliated Company purchase assets and/or obligation of another party, or transfers
assets in consideration for securities of another party), without the Bank’s prior consent which shall not be unreasonably
withheld;

 

(r) if any license, consent, approval or
registration of any of the Intellectual Property or the intellectual property rights of the Guarantor and/or the Affiliated Company
is denied, becomes void, suspended or is materially prejudiced, and has a material effect on such company.

 

(s) if Guarantor does not file the appropriate
UCC Financing Statements in the State of Delaware; or if Guarantor does not file the necessary continuation statements from time
to time under the applicable provisions of Article 9 of the UCC in order to maintain the perfection of the Collateral, or if any
other security interest is perfected in the Collateral, having a higher priority over the Bank.

 

(t) if Guarantor does not file the appropriate
filings with the USPTO in order to perfect the Guarantor’s security interest in the Guarantor’s future Intellectual
Property; or if Guarantor does not file the necessary continuation filings, if such are required in order to maintain the perfection
of the Intellectual Property Collateral, or if any other security interest is perfected relating to the Intellectual Property having
a higher priority over the Bank. For avoidance of doubt, it is hereby explicitly stipulated, that as of the date hereof, Guarantor
has no registered Patents, and thus no such filings are currently required.

 

    	 	17	 

     

    

 

(u) If the Guarantor shall issue any shares
to any other shareholder, without the Bank’s prior written consent.

 

(v) If the Guarantor shall not file annual
franchise tax report and pay annual franchise tax which it is required to file under the laws of the State of Delaware on a timely
basis.

 

(w) If an event of default shall be declared
by the Bank pursuant to any agreement with either the Affiliated Company or the Guarantor.

 

11. The Bank’s Appointment as
Attorney-in-Fact.

 

(a) Upon any of the events set forth in
section 3 above, the Bank may take all the steps it deems fit in order to collect all the Secured Sums, realize the Collateral
in any way that the law permits and exercise all its rights pursuant to this Security Agreement, in whole or in part, and apply
the proceeds thereof in discharge of the Secured Sums, without the Bank having to enforce or realize any other guarantees or collateral
that it might have (whether against Guarantor or against any third party). Upon the giving of such notice (if any) as may be required
by law, the Bank may, at its discretion, as the Guarantor’s attorney, for which purpose the Guarantor irrevocably appoints
the Bank as its attorney, sell the Collateral or any part of it by auction, public sale, private sale or otherwise, itself or through
others and on conditions at the Bank’s absolute discretion, and the Bank may itself or by the court or execution office realize
the Collateral granted to it pursuant to this Security Agreement or otherwise by the appointment of a receiver or receiver and
manager on behalf of the Bank (and the Guarantor agrees in advance to any person or legal entity that the Bank appoints or proposes
as receiver and manager as aforesaid) at Guarantor’s expense and amongst his other powers, he may:

 

(i) ask, demand, collect, receive, and
give acquittances and receipts for any and all moneys due and to become due under any Collateral and, in the name of the Guarantor
or its own name or otherwise, to take possession of and endorse and collect any checks, drafts, notes, acceptances, or other instruments
for the payment of moneys due under any Collateral and to file any claim or to take any other action or proceeding in any court
of law or equity or otherwise deemed appropriate by the Bank for the purpose of collecting any and all such moneys due under any
Collateral whenever payable and to file any claim or to take any other action or proceeding in any court of law or equity or otherwise
deemed reasonably appropriate by the Bank for the purpose of collecting any and all such moneys due under any Collateral whenever
payable;

 

(ii) pay or discharge taxes, Liens, security
interests, or other encumbrances levied or placed on or threatened against the Collateral, to effect any repairs or any insurance
called for by the terms of this Security Agreement and to pay all or any part of the premiums therefor and the costs thereof; and

 

    	 	18	 

     

    

 

(iii) (A) direct any party liable for any
payment under any of the Collateral to make payment of any and all moneys due, and to become due thereunder, directly to the Bank
or as the Bank shall direct; (B) receive payment of and receipt for any and all moneys, claims and other amounts due, and to become
due at any time, in respect of or arising out of any Collateral; (C) sign and endorse any invoices, freight or express bills, bills
of lading, storage or warehouse receipts, drafts against debtors, assignments, verifications, and notices in connection with accounts
and other documents constituting or relating to the Collateral; (D) commence and prosecute any suits, actions, or proceedings at
law or in equity in any court of competent jurisdiction to collect the Collateral or any part thereof and to enforce any other
right in respect of any Collateral; (E) defend any suit, action, or proceeding brought against the Guarantor with respect to any
Collateral; and (F) settle, compromise, or adjust any suit, action, or proceeding described above and, in connection therewith,
to give such discharges or releases as the Bank may deem appropriate.

 

(iv) (i) place a “hold” on
any account maintained with Guarantor and/or (ii) deliver a notice of exclusive control, any entitlement order, or other directions
or instructions pursuant to any Control Agreement or similar agreements providing control of any Collateral (including, without
limitation, an Account Control Agreement);

 

(b) The Bank agrees that, except upon the
occurrence and during the continuation of an Event of Default, it will forbear from exercising the power of attorney or any rights
granted to the Bank pursuant to this Section 11. The Guarantor hereby ratifies, to the extent permitted by law, all that
said attorneys shall lawfully do or cause to be done by virtue hereof. The power of attorney granted pursuant to this Section
11 is a power coupled with an interest and shall be irrevocable until this Security Agreement is terminated pursuant to Section
14 below.

 

(c) The powers conferred on the Bank hereunder
are solely to protect the Bank’s interests in the Collateral and shall not impose any duty upon it to exercise any such powers.
The Bank shall be accountable only for amounts that it actually receives as a result of the exercise of such powers and neither
it nor any of its representatives or agents shall be responsible to the Guarantor for any act or failure to act, except for its
own gross negligence, bad faith, misrepresentation, fraud or willful misconduct.

 

(d) The Guarantor also authorizes the Bank,
at any time and from time to time upon the occurrence and during the continuation of any Event of Default, to execute, in connection
with the sale provided for in Section 13 hereof, any endorsements, assignments, or other instruments of conveyance or transfer
with respect to the Collateral.

 

12. Performance by the Bank of Guarantor’s
Obligations. If the Guarantor materially fails to perform or comply with any of its material agreements contained herein and
the Bank, as provided for by the terms of this Security Agreement, shall itself perform or comply, or otherwise cause performance
or compliance, with such agreement, the reasonable expenses of the Bank incurred in connection with such performance or compliance,
together with interest thereon, shall be payable by the Guarantor to the Bank on demand and shall constitute Secured Sums secured
hereby.

 

    	 	19	 

     

    

 

13. Remedies, Rights Upon Default.

 

(a) Upon the occurrence of any of the events
set forth in Section 3 above, and provided that the Secured Sums had not been fully paid, the Bank will be entitled to exercise
in addition to all other rights and remedies granted to it in this Security Agreement and in any other instrument or agreement
securing, evidencing, or relating to the Secured Sums, all rights and remedies of a secured party under the UCC. Without limiting
the generality of the foregoing, the Guarantor expressly agrees that upon the occurrence of any such Event of Default (and provided
that such Event of Default had not been cured during the applicable cure period), the Bank, without demand of performance or other
demand, advertisement, or notice of any kind (except the notice specified below of time and place of public or private sale) or
upon the Guarantor or any other person (all and each of which demands, advertisements, and/or notices are hereby expressly waived
to the maximum extent permitted by the UCC and other applicable law), may forthwith collect, receive, appropriate, and realize
upon the Collateral, or any part thereof, and/or may forthwith sell, lease, assign, give an option or options to purchase, or sell
or otherwise dispose of and deliver such Collateral (or contract to do so), or any part thereof, in one or more parcels at public
or private sale or sales, at any exchange or broker’s board or at any of the Bank’s offices or elsewhere at such prices
on such terms as the Bank may deem commercially best, for cash or on credit or for future delivery without assumption of any credit
risk. The Bank shall have the right upon any such public sale or sales, and, to the extent permitted by law, upon any such private
sale or sales, to purchase the whole or any part of such Collateral so sold. The Guarantor further agrees, at the Bank’s
request, to assemble the Collateral and make it available to the Bank at places that the Bank shall reasonably select, whether
at the Guarantor’s premises or elsewhere. The Bank shall apply the net proceeds of any such collection, recovery, receipt,
appropriation, realization, or sale, as provided in Section 13(d) hereof, the Guarantor remaining liable for any deficiency
remaining unpaid after such application, and only after so paying over such net proceeds and after the payment by the Bank of any
other amount required by any provision of law, including section 9-610 of the UCC, need the Bank account for the surplus, if any,
to the Guarantor. To the maximum extent permitted by applicable law, the Guarantor waives all claims, damages, and demands against
the Bank arising out of the repossession, retention, or sale of the Collateral except such as arise out of the gross negligence,
fraud, misrepresentation, bad faith or willful misconduct of the Bank. The Guarantor agrees that the Bank need not give more than
sixty (60) days’ prior notice (which notification shall be deemed given when mailed or delivered on an overnight basis, postage
prepaid, addressed to the Guarantor at its address referred to in Section 17 hereof with confirmation of receipt) of the
time and place of any public sale or of the time after which a private sale may take place and that such notice is reasonable notification
of such matters. The Guarantor shall remain liable for any deficiency if the proceeds of any sale or disposition of the Collateral
are insufficient to pay all of the Secured Sums.

 

(b) The Guarantor also agrees to pay all
costs of the Bank, including, without limitation, reasonable attorneys’ fees, incurred in connection with the enforcement
of any of its rights and remedies hereunder.

 

(c) Except as otherwise set forth in this
Security Agreement, the Guarantor hereby waives presentment, demand, protest, or any notice (to the maximum extent permitted by
applicable law) of any kind in connection with this Security Agreement or any Collateral.

 

    	 	20	 

     

    

 

(d) The Proceeds of any sale, disposition,
or other realization upon all or any part of the Collateral shall be distributed by the Bank in the following order:

 

		(a)	first, in discharge of all expenses incurred in connection
with collecting the Secured Sums, including the expenses and remuneration of any receiver and/or manager at such rate as reasonably
fixed by the Bank;

 

		(b)	second, in discharge of the further amounts that are due
to the Bank in consequence of the linkage conditions, the interest, damages, commission and expenses now and in future due to
the Bank pursuant to this Security Agreement;

 

		(c)	third, in discharge of the principal of the Secured Sums;
and

 

		(d)	fourth, to pay to the Guarantor, or its representatives
or as a court of competent jurisdiction may direct, any surplus then remaining from such Proceeds.

 

(e) The Bank shall not be required to resort
to or pursue any of its rights or remedies under or with respect to any other agreement or any other collateral or charge before
pursuing any of its rights or remedies under this Security Agreement. The Bank may pursue its rights and remedies in such order
as it determines, and the exercise by the Bank of any right or remedy will not preclude the Bank from exercising any other right
or remedy.

 

(f) Until such time as any of the events
set forth in Section 3 above have occurred, the Bank shall not exercise the rights set forth in subsection (a) above, including
without limitation giving a Notice of Exclusive Control under the Deposit Account Control Agreement by and among the Bank, the
Guarantor and Bank Leumi USA dated as of July 19th, 2017 (as such term is defined therein) or the giving of any similar
notice under any other deposit account control agreement granting a security interest in any deposit account entered into pursuant
to this Agreement or as a result of the Banking Services.

 

14. Termination. The Bank shall
terminate this Security Agreement upon the Guarantor’s request provided that there has been the full repayment of all outstanding
Secured Sums, all credit lines of the Affiliated Company are cancelled, and there remain no obligations towards the Bank or any
outstanding credit facilities either of Guarantor or of Affiliated Company. Upon termination of this Security Agreement the Bank
will release the security interest hereunder and will provide the Guarantor with any required approval or executed documents to
the Secretary of State of the State of Delaware to remove the security interest in favor of the Bank under this Security Agreement.

 

    	 	21	 

     

    

 

15. Appointment of the Bank; Limitation
on the Bank’s Duty in Respect of Collateral. The Bank shall be obligated and shall have the right hereunder to make demands,
to give notices, to exercise or refrain from exercising any rights, and to take or refrain from taking action (including, without
limitation, the release or substitution of Collateral) solely in accordance with this Security Agreement, and the Bank shall be
bound thereby. So long as the Bank complies with reasonable banking practices, the Bank shall not have any duty as to any Collateral
in its possession or control or in the possession or control of any agent or nominee of it or any income thereon or as to the preservation
of rights against prior parties or any other rights pertaining thereto, except that the Bank shall use reasonable care with respect
to the Collateral in its possession or under its control. Furthermore, neither the Bank nor any of its officers, directors, agents,
or employees shall be liable for any action taken or omitted by any of them hereunder or in connection herewith or therewith, unless
caused by it or their gross negligence, fraud, misrepresentation, bad faith or willful misconduct. Upon request of the Guarantor,
the Bank shall account for any monies received by it in respect of any foreclosure oil or disposition of the Collateral.

 

16. Reinstatement. Subject to the
provisions of Section 14 above, this Security Agreement shall remain in full force and effect and continue to be effective should
any petition be filed by or against the Guarantor for liquidation or reorganization, should the Guarantor become insolvent or make
an assignment for the benefit of creditors, or should a receiver or trustee be appointed for all or any significant part of the
Guarantor’s assets, and shall continue to be effective or be reinstated, as the case may be, if at any time payment and performance
of the Secured Sums, or any part thereof, is, pursuant to applicable law, rescinded or reduced in amount, or must otherwise be
restored or returned by any obligee of the Secured Sums, whether as a “voidable preference”, “fraudulent conveyance”,
or otherwise, all as though such payment or performance had not been made. In the event that any payment, or any part thereof,
is rescinded, reduced, restored, or returned, the Secured Sums shall be reinstated and deemed reduced only by such amount paid
and not so rescinded, reduced, restored, or returned.

 

17. Notices. Except as otherwise
provided herein, whenever it is provided herein that any notice, demand, request, consent, approval, declaration, or other communication
shall or may be given to or served upon any of the parties by any other party, or whenever any of the parties desires to give or
serve upon any other communication with respect to this Security Agreement, each such notice, demand, request, consent, approval,
declaration, or other communication shall be in writing and either shall be delivered in person with receipt acknowledged or sent
by registered or certified mail, return receipt requested, postage prepaid, or by facsimile, and confirmed by answerback addressed
as follows:

 

	 	(a)	If to the Bank:
	 	 	 
	 	 	Mizrahi Tefahot Bank Ltd.
	 	 	7 Jabotinsky Street Ramat Gan, Israel
	 	 	Email: Dani_maor@umtb.co.il
	 	 	Attention: Dani Maor

 

	with a copy to: 	 	E. Landau Law Offices
	 	 	7 Jabotinsky Street.
	 	 	Ramat Gan, Israel 
	 	 	Facsimile: 972-2-561-8212 
	 	 	Attention: Shlomo Farkas, Adv.

 

    	 	22	 

     

    

 

		(b)	If to the Guarantor:
	 	 	Itamar Medical Inc.
	 	 	c/o Itamar Medical Ltd.
	 	 	9 Halamish Street, P.O. Box 3579
	 	 	Caesarea 3088900, Israel
	 	 	Attn: Shy Basson, CFO
	 	 	 
	 	 	Itamar Medical Inc.
	 	 	3290 Cumberland Club Drive
	 	 	Suite 100, Atlanta, GA 30339 
	 	 	Attn: Shy Basson, CFO
	 	 	 
	with a copy to: 	 	Itamar Medical Ltd.
	 	 	9 Halamish Street, P.O. Box 3579
	 	 	Caesarea 3088900, Israel
	 	 	Attn: Gil Ashkenazi, Legal Counsel

 

or at such other address in Israel, as
may be substituted by notice given as herein provided. The giving of any notice required hereunder may be waived in writing by
the party entitled to receive such notice. Every notice, demand, request, consent, approval, declaration, or other communication
hereunder shall be deemed to have been duly given or served on the date on which personally delivered, with receipt acknowledged,
telecopied, and confirmed by telecopy answerback, or five (5) Business Days after the same shall have been deposited in the local
postal service in Israel or in the U.S. To the extent permitted under applicable law, failure or delay in delivering copies of
any notice, demand, request, consent, approval, declaration, or other communication to the persons designated above to receive
copies shall in no way adversely affect the effectiveness of such notice, demand, request, consent, approval, declaration, or other
communication, unless the recipient thereof has been materially prejudiced by such failure or delay.

 

Guarantor hereby irrevocably designates,
appoints and empowers Mr. Shy Basson, 9 Halamish Street, P.O. Box 3579, Caesarea 3088900, Israel to receive for and on behalf of
the Guarantor, any and all notices and/or correspondence relating to this Agreement and/or to Guarantor’s relations with
the Bank, including without limitation, service of process issued out of the courts of the State of Israel or by or on behalf of
the Bank or in any other manner in any legal action or proceedings arising out of or in connection with this Agreement. Any service
of process to the above mentioned agent shall be deemed as service of process to the Guarantor itself. Guarantor hereby irrevocably
agrees that if its agent ceases to have an address in Israel or ceases to act as its agent it shall appoint a new agent in Israel
and will deliver to the Bank within 7 days a copy of a written acceptance of appointment by its agent. If at any time Guarantor
appoints a new agent it shall give notice to the Bank of such appointment and until such time service on the agent last known to
the other party shall be deemed to be effective service.

 

18. Severability. Any provision
of this Security Agreement which is prohibited or unenforceable in any jurisdiction shall, as to such jurisdiction, be ineffective
to the extent of such prohibition or unenforceability without invalidating the remaining provisions hereof, and any such prohibition
or unenforceability in any jurisdiction shall not invalidate or render unenforceable such provision in any other jurisdiction.

 

    	 	23	 

     

    

 

19. No Waiver; Cumulative Remedies.
Neither party shall, by any act, delay, omission, or otherwise, be deemed to have waived any of its rights or remedies hereunder,
and no waiver shall be valid unless in writing, signed by the waiving party, and then only to the extent therein set forth. A waiver
by either party of any right or remedy hereunder on any one occasion shall not be construed as a bar to any right or remedy which
such party would otherwise have had on any future occasion. No failure to exercise, nor any delay in exercising on the part of
a party hereunder, any right, power, or privilege hereunder, shall operate as a waiver thereof, nor shall any single or partial
exercise of any right, power or privilege hereunder preclude any other or future exercise thereof or the exercise of any other
right, power, or privilege. The rights and remedies hereunder provided are cumulative and may be exercised singly or concurrently,
and are not exclusive of any rights and remedies provided by law. None of the terms or provisions of this Security Agreement may
be waived, altered, modified, or amended except by an instrument in writing, duly executed by the Bank and the Guarantor.

 

20. Successors and Assigns; Governing
Law.

 

(a) This Security Agreement and all obligations
of the Guarantor hereunder shall be binding upon the successors and assigns of the Guarantor, and shall, together with the rights
and remedies of the Bank hereunder, inure to the benefit of the Bank and its successors and assigns. No sales of participations,
other sales, assignments, transfers, or other dispositions of any agreement governing or instrument evidencing the Secured Sums
or any portion thereof or interest therein shall in any manner affect the security interest granted to the Bank, hereunder.

 

(b) This Security Agreement shall be governed
by, and be construed and interpreted in accordance with, the laws of the State of Delaware.

 

(c) All parties to this Security Agreement
hereby irrevocably consent to the jurisdiction of the courts in Tel Aviv, Israel, with respect to all matters related to and /or
arising of this Agreement. The competent court in Tel Aviv is hereby vested with jurisdiction for the purpose of this Security
Agreement, but the Bank may also take legal proceedings in any other competent court and/or jurisdiction. Subject to the provisions
set forth in this section, all parties waive any objection to venue and any objection based on a more convenient forum in any action
instituted under this Security Agreement.

 

21. Further Indemnification. The
Guarantor agrees to pay, and to save the Bank harmless from, any and all liabilities with respect to, or resulting from any delay
in paying, any and all excise, sales, or other similar taxes that may be payable or determined to be payable with respect to any
of the Collateral or in connection with any of the transactions contemplated by this Security Agreement, except for losses caused
by the Bank’s gross negligence, fraud, misrepresentation, bad faith or willful misconduct.

 

    	 	24	 

     

    

 

22. Books of Account, Guarantor
confirms that the Bank’s books and accounts are acceptable to it, shall be deemed correct and shall serve as prima facie
evidence against it of all their particulars, including as regards the computation of the Secured Sums, the details of the bills
and guarantees and the other collateral and every other matter relating to this Security Agreement.

 

23. Waiver of Jury Trial. Each of
the parties to this Security Agreement waives all right to trial by jury in any action or proceeding to enforce or defend any rights
or remedies hereunder. The parties acknowledge that the foregoing waiver is knowing and voluntary.

 

24. Section Titles. The section
titles contained in this Security Agreement are and shall be without substantive meaning or content of any kind whatsoever and
are not a part of the agreement between the parties hereto.

 

25. Counterparts. This Security
Agreement may be executed in any number of counterparts, which shall, collectively and separately, constitute one agreement.

 

26. Transfer of Rights. The Bank
may at any time, at its discretion, without needing the Guarantor’s consent, transfer to a corporation under its control
or to another banking institution or to any venture capital or secondary fund with whom the Bank has transferred warrants or security
agreements relating to at least two (2) operating high-technology companies, this Security Agreement and the rights pursuant hereto,
including the Collateral, in whole or parts, and any such transferee may transfer the said rights without requiring further consent
from Guarantor to a corporation under its control or to another banking institution or to any venture capital or secondary fund.
The transfer may be made by endorsement of the Security Agreement or in such other manner as the Bank deems fit.

 

Notwithstanding the above, in the event
that the Bank declares an Event of Default under section 10 above, the Bank may freely transfer this Security Agreement and the
rights pursuant hereto, including the Collateral, in whole or parts, to any third party it deems fit, and any such transferee may
transfer the said rights without requiring any further consent.

 

[Signature page Follows]

 

    	 	25	 

     

    

 

Execution Copy

 

[Security Agreement dated July 19th,
2017 - Signature Page]

 

IN WITNESS WHEREOF, each of the parties
hereto has caused this Security Agreement to be executed and delivered by its duly authorized officer on the date first set forth
above.

 

		 	
	Mizrahi Tefahot Bank Ltd.	 	Guarantor

	By: 	/s/ Guy Ofer Hirshler	 	By: 	
	 	/s/ Dani Maor

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00290-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00290-of-00352.parquet"}]]