Document:

Exhibit
4.2

 

Form
of Representative’s Warrant Agreement

 

THE
REGISTERED HOLDER OF THIS PURCHASE WARRANT BY ITS ACCEPTANCE HEREOF, AGREES THAT IT WILL NOT SELL, TRANSFER, ASSIGN, PLEDGE OR
HYPOTHECATE THIS PURCHASE WARRANT OR BE THE SUBJECT OF ANY HEDGING, SHORT SALE, DERIVATIVE, PUT OR CALL TRANSACTION THAT WOULD
RESULT IN THE EFFECTIVE ECONOMIC DISPOSITION OF THIS PURCHASE WARRANT EXCEPT AS HEREIN PROVIDED FOR A PERIOD OF ONE HUNDRED EIGHTY
DAYS FOLLOWING THE EFFECTIVE DATE (DEFINED BELOW) TO ANYONE OTHER THAN (I) THINKEQUITY, A DIVISION OF FORDHAM FINANCIAL MANAGEMENT,
INC., OR AN UNDERWRITER OR A SELECTED DEALER IN CONNECTION WITH THE OFFERING, OR (II) A BONA FIDE OFFICER OR PARTNER OF THINKEQUITY,
A DIVISION OF FORDHAM FINANCIAL MANAGEMENT, INC., OR OF ANY SUCH UNDERWRITER OR SELECTED DEALER.

 

THIS
PURCHASE WARRANT IS NOT EXERCISABLE PRIOR TO [________________] [DATE THAT IS [180 DAYS] FROM THE EFFECTIVE DATE OF THE OFFERING].
VOID AFTER 5:00 P.M., EASTERN TIME, [___________________] [DATE THAT IS FIVE YEARS FROM THE EFFECTIVE DATE OF THE OFFERING].

 

WARRANT
TO PURCHASE COMMON STOCK

 

SAVE
FOODS, INC.

 

	Warrant
Shares: _______1	 Initial
    Exercise Date: ______, 2021

 

THIS
WARRANT TO PURCHASE COMMON STOCK (the “Warrant”) certifies that, for value received, _____________ or its assigns
(the “Holder”) is entitled, upon the terms and subject to the limitations on exercise and the conditions hereinafter
set forth, at any time on or after ____, 2021, which is one hundred eighty (180) days following the Effective Date (the “Initial
Exercise Date”) and, in accordance with FINRA Rule 5110(g)(8)(A), prior to at 5:00 p.m. (New York time) on the date
that is five (5) years following the Effective Date (the “Termination Date”) but not thereafter, to subscribe
for and purchase from Save Foods, Inc., a Delaware corporation (the “Company”), up to ______1 shares
of Common Stock, par value $0.0001 per share (the “Common Stock”), of the Company (the “Warrant Shares”),
as subject to adjustment hereunder. The purchase price of one share of Common Stock under this Warrant shall be equal to the Exercise
Price, as defined in Section 2(b).

 

Section
1. Definitions. In addition to the terms defined elsewhere in this Agreement, the following terms have the meanings
indicated in this Section 1:

 

“Affiliate”
means any Person that, directly or indirectly through one or more intermediaries, controls or is controlled by or is under common
control with a Person, as such terms are used in and construed under Rule 405 under the Securities Act.

 

“Business
Day” means any day other than Saturday, Sunday or other day on which commercial banks in The City of New York are authorized
or required by law to remain closed; provided that banks shall not be deemed to be authorized or obligated to be closed due to
a “shelter in place,” “non-essential employee” or similar closure of physical branch locations at the
direction of any governmental authority if such banks’ electronic funds transfer systems (including for wire transfers)
are open for use by customers on such day.

 

 

1Total
equals 5% of the aggregate number of Firm Shares issued and sold in the Offering.

 

    	1

    	 

    

 

“Commission”
means the United States Securities and Exchange Commission.

 

“Effective
Date” means the effective date of the registration statement on Form S-1 (File No. 333-[___]) including any related
prospectus or prospectuses, for the registration of the Company’s Common Stock under the Securities Act, that the Company
has filed with the Commission.

 

“Exchange
Act” means the Securities Exchange Act of 1934, as amended, and the rules and regulations promulgated thereunder.

 

“Person”
means an individual or corporation, partnership, trust, incorporated or unincorporated association, joint venture, limited liability
company, joint stock company, government (or an agency or subdivision thereof) or other entity of any kind.

 

“Rule
144” means Rule 144 promulgated by the Commission pursuant to the Securities Act, as such Rule may be amended or interpreted
from time to time, or any similar rule or regulation hereafter adopted by the Commission having substantially the same purpose
and effect as such Rule.

 

“Securities
Act” means the Securities Act of 1933, as amended, and the rules and regulations promulgated thereunder.

 

“Trading
Day” means a day on which the New York Stock Exchange is open for trading.

 

“Trading
Market” means any of the following markets or exchanges on which the Common Stock is listed or quoted for trading on
the date in question: the NYSE American, the Nasdaq Capital Market, the Nasdaq Global Market, the Nasdaq Global Select Market,
or the New York Stock Exchange (or any successors to any of the foregoing).

 

“Underwriting
Agreement” means that certain Underwriting Agreement, dated as of [____], 2021, by and between, the Company and ThinkEquity,
a division of Fordham Financial Management, Inc., as representatives of the underwriters set forth therein.

 

“VWAP”
means, for any date, the price determined by the first of the following clauses that applies: (a) if the Common Stock then listed
or quoted on a Trading Market, the daily volume weighted average price of the Common Stock for such date (or the nearest preceding
date) on the Trading Market on which the Common Stock is then listed or quoted as reported by Bloomberg L.P. (based on a Trading
Day from 9:30 a.m. (New York City time) to 4:02 p.m. (New York City time)), (b) if OTCQB or OTCQX is not a Trading Market, the
volume weighted average price of a share of Common Stock for such date (or the nearest preceding date) on the OTCQB or OTCQX as
applicable, (c) if Common Stock is not then listed or quoted for trading on the OTCQB or OTCQX and if prices for Common Stock
are then reported in the “Pink Sheets” published by OTC Markets Group, Inc. (or a similar organization or agency succeeding
to its functions of reporting prices), the most recent bid price per share of Common Stock so reported, or (d) in all other cases,
the fair market value of the Common Stock as determined by an independent appraiser selected in good faith by the Holder and reasonably
acceptable to the Company, the fees and expenses of which shall be paid by the Company.

 

    	2

    	 

    

 

Section
2. Exercise.

 

a)
Exercise of the purchase rights represented by this Warrant may be made, in whole or in part, at any time or times on or after
the Initial Exercise Date and on or before the Termination Date by delivery to the Company (or such other office or agency of
the Company as it may designate by notice in writing to the registered Holder at the address of the Holder appearing on the books
of the Company) of a duly executed facsimile copy (or e-mail attachment) of the Notice of Exercise Form annexed hereto. Within
two (2) Trading Days following the date of exercise as aforesaid, the Holder shall deliver the aggregate Exercise Price for the
shares specified in the applicable Notice of Exercise by wire transfer or cashier’s check drawn on a United States bank
unless the cashless exercise procedure specified in Section 2(c) below is specified in the applicable Notice of Exercise. No ink-original
Notice of Exercise shall be required, nor shall any medallion guarantee (or other type of guarantee or notarization) of any Notice
of Exercise form be required. Notwithstanding anything herein to the contrary, the Holder shall not be required to physically
surrender this Warrant to the Company until the Holder has purchased all of the Warrant Shares available hereunder and the Warrant
has been exercised in full, in which case, the Holder shall surrender this Warrant to the Company for cancellation within five
(5) Trading Days of the date the final Notice of Exercise is delivered to the Company. Partial exercises of this Warrant resulting
in purchases of a portion of the total number of Warrant Shares available hereunder shall have the effect of lowering the outstanding
number of Warrant Shares purchasable hereunder in an amount equal to the applicable number of Warrant Shares purchased. The Holder
and the Company shall maintain records showing the number of Warrant Shares purchased and the date of such purchases. The Company
shall deliver any objection to any Notice of Exercise Form within two (2) Business Days of receipt of such notice. The Holder
and any assignee, by acceptance of this Warrant, acknowledge and agree that, by reason of the provisions of this paragraph, following
the purchase of a portion of the Warrant Shares hereunder, the number of Warrant Shares available for purchase hereunder at any
given time may be less than the amount stated on the face hereof.

 

b)
Exercise Price. The exercise price per share of the Common Stock under this Warrant shall be $_______2,
subject to adjustment hereunder (the “Exercise Price”).

 

c)
Cashless Exercise. If at any time on or after the Initial Exercise Date, there is no effective registration statement registering,
or the prospectus contained therein is not available for the issuance of the Warrant Shares, then in lieu of exercising this Warrant
by delivering the aggregate Exercise Price by wire transfer or cashier’s check, at the election of the Holder this Warrant
may also be exercised, in whole or in part, at such time by means of a “cashless exercise” in which the Holder shall
be entitled to receive the number of Warrant Shares equal to the quotient obtained by dividing [(A-B) (X)] by (A), where:

 

	 	(A) =	as applicable: (i) the VWAP on the Trading Day immediately preceding the date of the applicable Notice of Exercise if such Notice of Exercise is (1) both executed and delivered pursuant to Section 2(a) hereof on a day that is not a Trading Day or (2) both executed and delivered pursuant to Section 2(a) hereof on a Trading Day prior to the opening of “regular trading hours” (as defined in Rule 600(b)(64) of Regulation NMS promulgated under the federal securities laws) on such Trading Day, (ii) the VWAP on the Trading Day immediately preceding the date of the applicable Notice of Exercise if such Notice of Exercise is executed during “regular trading hours” on a Trading Day and is delivered within two (2) hours thereafter (including until two (2) hours after the close of “regular trading hours” on a Trading Day) pursuant to Section 2(a) hereof or (iii) the VWAP on the date of the applicable Notice of Exercise if the date of such Notice of Exercise is a Trading Day and such Notice of Exercise is both executed and delivered pursuant to Section 2(a) hereof after the close of “regular trading hours” on such Trading Day;

 

 

2
125% of the public offering price per share of Common Stock issued and sold in the offering.

 

    	3

    	 

    

 

	 	(B) =	the Exercise Price of this Warrant, as adjusted hereunder; and
	 	 	 
	 	(X) =	the number of Warrant Shares that would be issuable upon exercise of this Warrant in accordance with the terms of this Warrant if such exercise were by means of a cash exercise rather than a cashless exercise.

 

If
Warrant Shares are issued in such a “cashless exercise,” the parties acknowledge and agree that in accordance with
Section 3(a)(9) of the Securities Act, the Warrant Shares shall take on the registered characteristics of the Warrants being exercised,
and the holding period of the Warrants being exercised may be tacked on to the holding period of the Warrant Shares. The Company
agrees not to take any position contrary to this Section 2(c).

 

Notwithstanding
anything herein to the contrary, on the Termination Date, this Warrant shall be automatically exercised via cashless exercise
pursuant to this Section 2(c).

 

d)
Mechanics of Exercise.

 

i.
Delivery of Warrant Shares Upon Exercise. The Company shall cause the Warrant Shares purchased hereunder to be transmitted
by its transfer agent to the Holder by crediting the account of the Holder’s or its designee’s balance account with
The Depository Trust Company through its Deposit or Withdrawal at Custodian system (“DWAC”) if the Company
is then a participant in such system and either (A) there is an effective registration statement permitting the issuance of the
Warrant Shares to or resale of the Warrant Shares by Holder, or (B) the Warrant Shares are eligible for resale by the Holder without
volume or manner-of-sale limitations pursuant to Rule 144 and, in either case, the Warrant Shares have been sold by the Holder
prior to the Warrant Share Delivery Date (as defined below), and otherwise by physical delivery of a certificate, registered in
the Company’s share register in the name of the Holder or its designee, for the number of Warrant Shares to which the Holder
is entitled pursuant to such exercise to the address specified by the Holder in the Notice of Exercise by the date that is two
(2) Trading Days after the delivery to the Company of the Notice of Exercise (such date, the “Warrant Share Delivery
Date”), provided that the Company shall not be obligated to deliver the Warrant Shares hereunder unless the Company
has received the aggregate Exercise Price on or before the Warrant Shares Delivery Date. If the Warrant Shares can be delivered
via DWAC, the transfer agent shall have received from the Company, at the expense of the Company, any legal opinions or other
documentation required by it to deliver such Warrant Shares without legend (subject to receipt by the Company of reasonable back
up documentation from the Holder, including with respect to affiliate status) and, if applicable and requested by the Company
prior to the Warrant Share Delivery Date, the transfer agent shall have received from the Holder a confirmation of sale of the
Warrant Shares (provided the requirement of the Holder to provide a confirmation as to the sale of Warrant Shares shall not be
applicable to the issuance of unlegended Warrant Shares upon a cashless exercise of this Warrant if the Warrant Shares are then
eligible for resale pursuant to Rule 144(b)(1)). The Warrant Shares shall be deemed to have been issued, and Holder or any other
person so designated to be named therein shall be deemed to have become a holder of record of such shares for all purposes, as
of the date the Warrant has been exercised, with payment to the Company of the Exercise Price (or by cashless exercise, if permitted)
and all taxes required to be paid by the Holder, if any, pursuant to Section 2(d)(vi) prior to the issuance of such shares, having
been paid. If the Company fails for any reason to deliver to the Holder the Warrant Shares subject to a Notice of Exercise by
the second Trading Day following the Warrant Share Delivery Date, the Company shall pay to the Holder, in cash, as liquidated
damages and not as a penalty, for each $1,000 of Warrant Shares subject to such exercise (based on the VWAP of the Common Stock
on the date of the applicable Notice of Exercise), $10 per Trading Day (increasing to $20 per Trading Day on the fifth Trading
Day after such liquidated damages begin to accrue) for each Trading Day after the second Trading Day following such Warrant Share
Delivery Date until such Warrant Shares are delivered or Holder rescinds such exercise.

 

    	4

    	 

    

 

ii.
Delivery of New Warrants Upon Exercise. If this Warrant shall have been exercised in part, the Company shall, at the request
of a Holder and upon surrender of this Warrant certificate, at the time of delivery of the Warrant Shares, deliver to the Holder
a new Warrant evidencing the rights of the Holder to purchase the unpurchased Warrant Shares called for by this Warrant, which
new Warrant shall in all other respects be identical with this Warrant.

 

iii.
Rescission Rights. If the Company fails to cause its transfer agent to deliver to the Holder the Warrant Shares pursuant
to Section 2(d)(i) by the Warrant Share Delivery Date, then the Holder will have the right to rescind such exercise; provided,
however, that the Holder shall be required to return any Warrant Shares or Common Stock subject to any such rescinded exercise
notice concurrently with the return to Holder of the aggregate Exercise Price paid to the Company for such Warrant Shares and
the restoration of Holder’s right to acquire such Warrant Shares pursuant to this Warrant (including, issuance of a replacement
warrant certificate evidencing such restored right).

 

iv.
Compensation for Buy-In on Failure to Timely Deliver Warrant Shares Upon Exercise. In addition to any other rights available
to the Holder, if the Company fails to cause its transfer agent to transmit to the Holder the Warrant Shares pursuant to an exercise
on or before the Warrant Share Delivery Date, and if after such date the Holder is required by its broker to purchase (in an open
market transaction or otherwise) or the Holder’s brokerage firm otherwise purchases, shares of Common Stock to deliver in
satisfaction of a sale by the Holder of the Warrant Shares which the Holder anticipated receiving upon such exercise (a “Buy-In”),
then the Company shall (A) pay in cash to the Holder the amount, if any, by which (x) the Holder’s total purchase price
(including brokerage commissions, if any) for the shares of Common Stock so purchased exceeds (y) the amount obtained by multiplying
(1) the number of Warrant Shares that the Company was required to deliver to the Holder in connection with the exercise at issue
times (2) the price at which the sell order giving rise to such purchase obligation was executed, and (B) at the option of the
Holder, either reinstate the portion of the Warrant and equivalent number of Warrant Shares for which such exercise was not honored
(in which case such exercise shall be deemed rescinded) or deliver to the Holder the number of shares of Common Stock that would
have been issued had the Company timely complied with its exercise and delivery obligations hereunder. For example, if the Holder
purchases Common Stock having a total purchase price of $11,000 to cover a Buy-In with respect to an attempted exercise of shares
of Common Stock with an aggregate sale price giving rise to such purchase obligation of $10,000, under clause (A) of the immediately
preceding sentence the Company shall be required to pay the Holder $1,000. The Holder shall provide the Company written notice
indicating the amounts payable to the Holder in respect of the Buy-In and, upon request of the Company, evidence of the amount
of such loss. Nothing herein shall limit a Holder’s right to pursue any other remedies available to it hereunder, at law
or in equity including, without limitation, a decree of specific performance and/or injunctive relief with respect to the Company’s
failure to timely deliver shares of Common Stock upon exercise of the Warrant as required pursuant to the terms hereof.

 

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v.
No Fractional Shares or Scrip. No fractional shares or scrip representing fractional shares shall be issued upon the exercise
of this Warrant. As to any fraction of a share which the Holder would otherwise be entitled to purchase upon such exercise, the
Company shall, at its election, either pay a cash adjustment in respect of such final fraction in an amount equal to such fraction
multiplied by the Exercise Price or round up to the next whole share.

 

vi.
Charges, Taxes and Expenses. Issuance of Warrant Shares shall be made without charge to the Holder for any issue or transfer
tax or other incidental expense in respect of the issuance of such Warrant Shares, all of which taxes and expenses shall be paid
by the Company, and such Warrant Shares shall be issued in the name of the Holder or in such name or names as may be directed
by the Holder; provided, however, that in the event that Warrant Shares are to be issued in a name other than the
name of the Holder, this Warrant when surrendered for exercise shall be accompanied by the Assignment Form attached hereto duly
executed by the Holder and the Company may require, as a condition thereto, the payment of a sum sufficient to reimburse it for
any transfer tax incidental thereto. The Company shall pay all transfer agent fees required for same-day processing of any Notice
of Exercise and all fees to the Depository Trust Company (or another established clearing corporation performing similar functions)
required for same-day electronic delivery of the Warrant Shares.

 

vii.
Closing of Books. The Company will not close its stockholder books or records in any manner which prevents the timely exercise
of this Warrant, pursuant to the terms hereof.

 

viii.
Signature. This Section 2 and the exercise form attached hereto set forth the totality of the procedures required of the
Holder in order to exercise this Purchase Warrant. Without limiting the preceding sentences, no ink-original exercise form shall
be required, nor shall any medallion guarantee (or other type of guarantee or notarization) of any exercise form be required in
order to exercise this Purchase Warrant. No additional legal opinion, other information or instructions shall be required of the
Holder to exercise this Purchase Warrant. The Company shall honor exercises of this Purchase Warrant and shall deliver Shares
underlying this Purchase Warrant in accordance with the terms, conditions and time periods set forth herein.

 

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e)
Holder’s Exercise Limitations. The Company shall not effect any exercise of this Warrant, and a Holder shall not
have the right to exercise any portion of this Warrant, pursuant to Section 2 or otherwise, to the extent that after giving effect
to such issuance after exercise as set forth on the applicable Notice of Exercise, the Holder (together with the Holder’s
Affiliates, and any other Persons acting as a group together with the Holder or any of the Holder’s Affiliates), would beneficially
own in excess of the Beneficial Ownership Limitation (as defined below). For purposes of the foregoing sentence, the number of
shares of Common Stock beneficially owned by the Holder and its Affiliates shall include the number of shares of Common Stock
issuable upon exercise of this Warrant with respect to which such determination is being made, but shall exclude the number of
shares of Common Stock which would be issuable upon (i) exercise of the remaining, nonexercised portion of this Warrant beneficially
owned by the Holder or any of its Affiliates and (ii) exercise or conversion of the unexercised or nonconverted portion of any
other securities of the Company (including, without limitation, any other Common Stock Equivalents) subject to a limitation on
conversion or exercise analogous to the limitation contained herein beneficially owned by the Holder or any of its Affiliates.
Except as set forth in the preceding sentence, for purposes of this Section 2(e), beneficial ownership shall be calculated in
accordance with Section 13(d) of the Exchange Act and the rules and regulations promulgated thereunder, it being acknowledged
by the Holder that the Company is not representing to the Holder that such calculation is in compliance with Section 13(d) of
the Exchange Act and the Holder is solely responsible for any schedules required to be filed in accordance therewith. To the extent
that the limitation contained in this Section 2(e) applies, the determination of whether this Warrant is exercisable (in relation
to other securities owned by the Holder together with any Affiliates) and of which portion of this Warrant is exercisable shall
be in the sole discretion of the Holder, and the submission of a Notice of Exercise shall be deemed to be the Holder’s determination
of whether this Warrant is exercisable (in relation to other securities owned by the Holder together with any Affiliates) and
of which portion of this Warrant is exercisable, in each case subject to the Beneficial Ownership Limitation, and the Company
shall have no obligation to verify or confirm the accuracy of such determination. In addition, a determination as to any group
status as contemplated above shall be determined in accordance with Section 13(d) of the Exchange Act and the rules and regulations
promulgated thereunder. For purposes of this Section 2(e), in determining the number of outstanding shares of Common Stock, a
Holder may rely on the number of outstanding shares of Common Stock as reflected in (A) the Company’s most recent periodic
or annual report filed with the Commission, as the case may be, (B) a more recent public announcement by the Company or (C) a
more recent written notice by the Company or the Company’s transfer agent setting forth the number of shares of Common Stock
outstanding. Upon the written or oral request of a Holder, the Company shall within two Trading Days confirm orally and in writing
to the Holder the number of shares of Common Stock then outstanding. In any case, the number of outstanding shares of Common Stock
shall be determined after giving effect to the conversion or exercise of securities of the Company, including this Warrant, by
the Holder or its Affiliates since the date as of which such number of outstanding shares of Common Stock was reported. The “Beneficial
Ownership Limitation” shall be 9.99% of the number of shares of the Common Stock outstanding immediately after giving
effect to the issuance of shares of Common Stock issuable upon exercise of this Warrant. The Holder, upon notice to the Company,
may increase or decrease the Beneficial Ownership Limitation provisions of this Section 2(e), provided that the Beneficial Ownership
Limitation in no event exceeds 9.99% of the number of shares of the Common Stock outstanding immediately after giving effect to
the issuance of shares of Common Stock upon exercise of this Warrant held by the Holder and the provisions of this Section 2(e)
shall continue to apply. Any increase in the Beneficial Ownership Limitation will not be effective until the 61st day
after such notice is delivered to the Company. The provisions of this paragraph shall be construed and implemented in a manner
otherwise than in strict conformity with the terms of this Section 2(e) to correct this paragraph (or any portion hereof) which
may be defective or inconsistent with the intended Beneficial Ownership Limitation herein contained or to make changes or supplements
necessary or desirable to properly give effect to such limitation. The limitations contained in this paragraph shall apply to
a successor holder of this Warrant.

 

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Section
3. Certain Adjustments.

 

a)
Stock Dividends and Splits. If the Company, at any time while this Warrant is outstanding: (i) pays a stock dividend or
otherwise makes a distribution or distributions on shares of its Common Stock or any other equity or equity equivalent securities
payable in shares of Common Stock (which, for avoidance of doubt, shall not include any shares of Common Stock issued by the Company
upon exercise of this Warrant), (ii) subdivides outstanding shares of Common Stock into a larger number of shares, (iii) combines
(including by way of reverse stock split) outstanding shares of Common Stock into a smaller number of shares, or (iv) issues by
reclassification of shares of the Common Stock any shares of capital stock of the Company, then in each case the Exercise Price
shall be multiplied by a fraction of which the numerator shall be the number of shares of Common Stock (excluding treasury shares,
if any) outstanding immediately before such event and of which the denominator shall be the number of shares of Common Stock outstanding
immediately after such event, and the number of shares issuable upon exercise of this Warrant shall be proportionately adjusted
such that the aggregate Exercise Price of this Warrant shall remain unchanged. Any adjustment made pursuant to this Section 3(a)
shall become effective immediately after the record date for the determination of stockholders entitled to receive such dividend
or distribution and shall become effective immediately after the effective date in the case of a subdivision, combination or re-classification.
For the purposes of clarification, the Exercise Price of this Warrant will not be adjusted in the event that the Company or any
Subsidiary thereof, as applicable, sells or grants any option to purchase, or sell or grant any right to reprice, or otherwise
dispose of or issue (or announce any offer, sale, grant or any option to purchase or other disposition) any Common Stock or Common
Stock Equivalents, at an effective price per share less than the Exercise Price then in effect.

 

b)
[RESERVED]

 

c)
Subsequent Rights Offerings. In addition to any adjustments pursuant to Section 3(a) above, if at any time the Company
grants, issues or sells any Common Stock Equivalents or rights to purchase stock, warrants, securities or other property pro rata
to the record holders of any class of shares of Common Stock (the “Purchase Rights”), then the Holder will
be entitled to acquire, upon the terms applicable to such Purchase Rights, the aggregate Purchase Rights which the Holder could
have acquired if the Holder had held the number of shares of Common Stock acquirable upon complete exercise of this Warrant (without
regard to any limitations on exercise hereof, including without limitation, the Beneficial Ownership Limitation) immediately before
the date on which a record is taken for the grant, issuance or sale of such Purchase Rights, or, if no such record is taken, the
date as of which the record holders of shares of Common Stock are to be determined for the grant, issue or sale of such Purchase
Rights (provided, however, to the extent that the Holder’s right to participate in any such Purchase Right would result
in the Holder exceeding the Beneficial Ownership Limitation, then the Holder shall not be entitled to participate in such Purchase
Right to such extent (or beneficial ownership of such shares of Common Stock as a result of such Purchase Right to such extent)
and such Purchase Right to such extent shall be held in abeyance for the Holder until such time, if ever, as its right thereto
would not result in the Holder exceeding the Beneficial Ownership Limitation).

 

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d)
Pro Rata Distributions. During such time as this Warrant is outstanding, if the Company shall declare or make any dividend
(other than cash dividends) or other distribution of its assets (or rights to acquire its assets) to holders of shares of Common
Stock, by way of return of capital or otherwise (including, without limitation, any distribution of shares or other securities,
property or options by way of a dividend, spin off, reclassification, corporate rearrangement, scheme of arrangement or other
similar transaction) (a “Distribution”), at any time after the issuance of this Warrant, then, in each such
case, the Holder shall be entitled to participate in such Distribution to the same extent that the Holder would have participated
therein if the Holder had held the number of shares of Common Stock acquirable upon complete exercise of this Warrant (without
regard to any limitations on exercise hereof, including without limitation, the Beneficial Ownership Limitation) immediately before
the date of which a record is taken for such Distribution, or, if no such record is taken, the date as of which the record holders
of shares of Common Stock are to be determined for the participation in such Distribution (provided, however, to
the extent that the Holder’s right to participate in any such Distribution would result in the Holder exceeding the Beneficial
Ownership Limitation, then the Holder shall not be entitled to participate in such Distribution to such extent (or in the beneficial
ownership of any shares of Common Stock as a result of such Distribution to such extent) and the portion of such Distribution
shall be held in abeyance for the benefit of the Holder until such time, if ever, as its right thereto would not result in the
Holder exceeding the Beneficial Ownership Limitation). To the extent that this Warrant has not been partially or completely exercised
at the time of such Distribution, such portion of the Distribution shall be held in abeyance for the benefit of the Holder until
the Holder has exercised this Warrant.

 

e)
Fundamental Transaction. If, at any time while this Warrant is outstanding, (i) the Company, directly or indirectly, in
one or more related transactions effects any merger or consolidation of the Company with or into another Person, (ii) the Company,
directly or indirectly, effects any sale, lease, license, assignment, transfer, conveyance or other disposition of all or substantially
all of its assets in one or a series of related transactions, (iii) any, direct or indirect, purchase offer, tender offer or exchange
offer (whether by the Company or another Person) is completed pursuant to which holders of Common Stock are permitted to sell,
tender or exchange their shares for other securities, cash or property and has been accepted by the holders of 50% or more of
the outstanding Common Stock, (iv) the Company, directly or indirectly, in one or more related transactions effects any reclassification,
reorganization or recapitalization of the Common Stock or any compulsory share exchange pursuant to which the Common Stock is
effectively converted into or exchanged for other securities, cash or property, or (v) the Company, directly or indirectly, in
one or more related transactions consummates a stock or share purchase agreement or other business combination (including, without
limitation, a reorganization, recapitalization, spin-off or scheme of arrangement) with another Person or group of Persons whereby
such other Person or group acquires more than 50% of the outstanding shares of Common Stock (not including any shares of Common
Stock held by the other Person or other Persons making or party to, or associated or affiliated with the other Persons making
or party to, such stock or share purchase agreement or other business combination) (each a “Fundamental Transaction”),
then, upon any subsequent exercise of this Warrant, the Holder shall have the right to receive, for each Warrant Share that would
have been issuable upon such exercise immediately prior to the occurrence of such Fundamental Transaction, at the option of the
Holder (without regard to any limitation in Section 2(e) on the exercise of this Warrant), the number of shares of Common Stock
of the successor or acquiring corporation or of the Company, if it is the surviving corporation, and any additional consideration
(the “Alternate Consideration”) receivable by holders of Common Stock as a result of such Fundamental Transaction
for each share of Common Stock for which this Warrant is exercisable immediately prior to such Fundamental Transaction (without
regard to any limitation in Section 2(e) on the exercise of this Warrant). For purposes of any such exercise, the determination
of the Exercise Price shall be appropriately adjusted to apply to such Alternate Consideration based on the amount of Alternate
Consideration issuable in respect of one share of Common Stock in such Fundamental Transaction, and the Company shall apportion
the Exercise Price among the Alternate Consideration in a reasonable manner reflecting the relative value of any different components
of the Alternate Consideration. If holders of Common Stock are given any choice as to the securities, cash or property to be received
in a Fundamental Transaction, then the Holder shall be given the same choice as to the Alternate Consideration it receives upon
any exercise of this Warrant following such Fundamental Transaction. The Company shall cause any successor entity in a Fundamental
Transaction in which the Company is not the survivor (the “Successor Entity”) to assume in writing all of the
obligations of the Company under this Warrant in accordance with the provisions of this Section 3(e) pursuant to written agreements
in form and substance reasonably satisfactory to the Holder and approved by the Holder (without unreasonable delay) prior to such
Fundamental Transaction and shall, at the option of the Holder, deliver to the Holder in exchange for this Warrant a security
of the Successor Entity evidenced by a written instrument substantially similar in form and substance to this Warrant which is
exercisable for a corresponding number of shares of capital stock of such Successor Entity (or its parent entity) equivalent to
the shares of Common Stock acquirable and receivable upon exercise of this Warrant (without regard to any limitations on the exercise
of this Warrant) prior to such Fundamental Transaction, and with an exercise price which applies the exercise price hereunder
to such shares of capital stock (but taking into account the relative value of the shares of Common Stock pursuant to such Fundamental
Transaction and the value of such shares of capital stock, such number of shares of capital stock and such exercise price being
for the purpose of protecting the economic value of this Warrant immediately prior to the consummation of such Fundamental Transaction),
and which is reasonably satisfactory in form and substance to the Holder. Upon the occurrence of any such Fundamental Transaction,
the Successor Entity shall succeed to, and be substituted for (so that from and after the date of such Fundamental Transaction,
the provisions of this Warrant referring to the “Company” shall refer instead to the Successor Entity), and may exercise
every right and power of the Company and shall assume all of the obligations of the Company under this Warrant with the same effect
as if such Successor Entity had been named as the Company herein.

 

f)
Calculations. All calculations under this Section 3 shall be made to the nearest cent or the nearest 1/100th of a share,
as the case may be. For purposes of this Section 3, the number of shares of Common Stock deemed to be issued and outstanding as
of a given date shall be the sum of the number of shares of Common Stock (excluding treasury shares, if any) issued and outstanding.

 

g)
Notice to Holder.

 

i.
Adjustment to Exercise Price. Whenever the Exercise Price is adjusted pursuant to any provision of this Section 3, the
Company shall promptly mail to the Holder a notice setting forth the Exercise Price after such adjustment and any resulting adjustment
to the number of Warrant Shares and setting forth a brief statement of the facts requiring such adjustment.

 

    	9

    	 

    

 

ii.
Notice to Allow Exercise by Holder. If (A) the Company shall declare a dividend (or any other distribution in whatever
form) on the Common Stock, (B) the Company shall declare a special nonrecurring cash dividend on or a redemption of the Common
Stock, (C) the Company shall authorize the granting to all holders of the Common Stock rights or warrants to subscribe for or
purchase any shares of capital stock of any class or of any rights, (D) the approval of any stockholders of the Company shall
be required in connection with any reclassification of the Common Stock, any consolidation or merger to which the Company is a
party, any sale or transfer of all or substantially all of the assets of the Company, or any compulsory share exchange whereby
the Common Stock is converted into other securities, cash or property, or (E) the Company shall authorize the voluntary or involuntary
dissolution, liquidation or winding up of the affairs of the Company, then, in each case, the Company shall cause to be mailed
a notice to the Holder at its last address as it shall appear upon the Warrant Register of the Company, at least 20 calendar days
prior to the applicable record or effective date hereinafter specified, stating (x) the date on which a record is to be taken
for the purpose of such dividend, distribution, redemption, rights or warrants, or if a record is not to be taken, the date as
of which the holders of the Common Stock of record to be entitled to such dividend, distributions, redemption, rights or warrants
are to be determined or (y) the date on which such reclassification, consolidation, merger, sale, transfer or share exchange is
expected to become effective or close, and the date as of which it is expected that holders of the Common Stock of record shall
be entitled to exchange their shares of the Common Stock for securities, cash or other property deliverable upon such reclassification,
consolidation, merger, sale, transfer or share exchange; provided that the failure to provide such notice or any defect therein
shall not affect the validity of the corporate action required to be specified in such notice. To the extent that any notice provided
hereunder constitutes, or contains, material, non-public information regarding the Company or any of its Subsidiaries, the Company
shall simultaneously file such notice with the Commission pursuant to a Current Report on Form 8-K. The Holder shall remain entitled
to exercise this Warrant during the period commencing on the date of such notice to the effective date of the event triggering
such notice except as may otherwise be expressly set forth herein.

 

Section
4. Transfer of Warrant.

 

a)
Transferability. Pursuant to FINRA Rule 5110(e)(1), neither this Warrant nor any Warrant Shares issued upon exercise of
this Warrant shall be sold, transferred, assigned, pledged, or hypothecated, or be the subject of any hedging, short sale, derivative,
put, or call transaction that would result in the effective economic disposition of the securities by any person for a period
of 180 days immediately following the date of effectiveness or commencement of sales of the offering pursuant to which this Warrant
is being issued, except the transfer of any security:

 

	 	i.	by
    operation of law or by reason of reorganization of the Company;
	 	 	 
	 	ii.	to
    any FINRA member firm participating in the offering and the officers or partners thereof, if all securities so transferred
    remain subject to the lock-up restriction in this Section 4(a) for the remainder of the time period;
	 	 	 
	 	iii.	if
    the aggregate amount of securities of the Company held by the Holder or related person do not exceed 1% of the securities
    being offered;
	 	 	 
	 	iv.	that
    is beneficially owned on a pro-rata basis by all equity owners of an investment fund, provided that no participating member
    manages or otherwise directs investments by the fund, and participating members in the aggregate do not own more than 10%
    of the equity in the fund; or

 

    	10

    	 

    

 

	 	v.	the
    exercise or conversion of any security, if all securities received remain subject to the lock-up restriction in this Section
    4(a) for the remainder of the time period.

 

Subject
to the foregoing restriction, any applicable securities laws and the conditions set forth in Section 4(d), this Warrant and all
rights hereunder (including, without limitation, any registration rights) are transferable, in whole or in part, upon surrender
of this Warrant at the principal office of the Company or its designated agent, together with a written assignment of this Warrant
substantially in the form attached hereto duly executed by the Holder or its agent or attorney and funds sufficient to pay any
transfer taxes payable upon the making of such transfer. Upon such surrender and, if required, such payment, the Company shall
execute and deliver a new Warrant or Warrants in the name of the assignee or assignees, as applicable, and in the denomination
or denominations specified in such instrument of assignment, and shall issue to the assignor a new Warrant evidencing the portion
of this Warrant not so assigned, and this Warrant shall promptly be cancelled. Notwithstanding anything herein to the contrary,
the Holder shall not be required to physically surrender this Warrant to the Company unless the Holder has assigned this Warrant
in full, in which case, the Holder shall surrender this Warrant to the Company within three (3) Trading Days of the date the Holder
delivers an assignment form to the Company assigning this Warrant full. The Warrant, if properly assigned in accordance herewith,
may be exercised by a new holder for the purchase of Warrant Shares without having a new Warrant issued.

 

b)
New Warrants. This Warrant may be divided or combined with other Warrants upon presentation hereof at the aforesaid office
of the Company, together with a written notice specifying the names and denominations in which new Warrants are to be issued,
signed by the Holder or its agent or attorney. Subject to compliance with Section 4(a), as to any transfer which may be involved
in such division or combination, the Company shall execute and deliver a new Warrant or Warrants in exchange for the Warrant or
Warrants to be divided or combined in accordance with such notice. All Warrants issued on transfers or exchanges shall be dated
the initial issuance date of this Warrant and shall be identical with this Warrant except as to the number of Warrant Shares issuable
pursuant thereto.

 

c)
Warrant Register. The Company shall register this Warrant, upon records to be maintained by the Company for that purpose
(the “Warrant Register”), in the name of the record Holder hereof from time to time. The Company may deem and
treat the registered Holder of this Warrant as the absolute owner hereof for the purpose of any exercise hereof or any distribution
to the Holder, and for all other purposes, absent actual notice to the contrary.

 

d)
Representation by the Holder. The Holder, by the acceptance hereof, represents and warrants that it is acquiring this Warrant
and, upon any exercise hereof, will acquire the Warrant Shares issuable upon such exercise, for its own account and not with a
view to or for distributing or reselling such Warrant Shares or any part thereof in violation of the Securities Act or any applicable
state securities law, except pursuant to sales registered or exempted under the Securities Act.

 

    	11

    	 

    

 

Section
5. Registration Rights.

 

5.1 Demand Registration.

 

5.1.1
Grant of Right. The Company, upon written demand (a “Demand Notice”) of the Holder(s) of at least 51%
of the Warrants and/or the underlying Warrant Shares (“Majority Holders”), agrees to register, on one occasion,
all or any portion of the Warrant Shares underlying the Warrants (collectively, the “Registrable Securities”).
On such occasion, the Company will file a registration statement with the Commission covering the Registrable Securities within
thirty (30) days after receipt of a Demand Notice and use its commercially reasonable efforts to have the registration statement
declared effective promptly thereafter, subject to compliance with review by the Commission; provided, however, that the Company
shall not be required to comply with a Demand Notice if the Company has filed a registration statement with respect to which the
Holder is entitled to piggyback registration rights pursuant to Section 5.2 hereof and either: (i) the Holder has elected to participate
in the offering covered by such registration statement or (ii) if such registration statement relates to an underwritten primary
offering of securities of the Company, until the offering covered by such registration statement has been withdrawn or until thirty
(30) days after such offering is consummated. The sole demand for registration may be made at any time beginning on the Initial
Exercise Date and expiring on the fifth anniversary of the Effective Date in accordance with FINRA Rule 5110(g)(8)(C). The Company
covenants and agrees to give written notice of its receipt of any Demand Notice by any Holder(s) to all other registered Holders
of the Warrants and/or the Registrable Securities within ten (10) days after the date of the receipt of any such Demand Notice.

 

5.1.2
Terms. The Company shall bear all fees and expenses attendant to the registration of the Registrable Securities pursuant to Section
5.1.1, but the Holders shall pay any and all underwriting commissions and the expenses of any legal counsel selected by the Holders
to represent them in connection with the sale of the Registrable Securities. The Company agrees to use its commercially reasonable
efforts to cause the filing required herein to become effective promptly and to qualify or register the Registrable Securities
in such States as are reasonably requested by the Holder(s); provided, however, that in no event shall the Company be required
to register the Registrable Securities in a State in which such registration would cause: (i) the Company to be obligated to register
or license to do business in such State or submit to general service of process in such State, or (ii) the principal stockholders
of the Company to be obligated to escrow their shares of capital stock of the Company. The Company shall cause any registration
statement filed pursuant to the demand right granted under Section 5.1.1 to remain effective for a period of at least twelve (12)
consecutive months after the date that the Holders of the Registrable Securities covered by such registration statement are first
given the opportunity to sell all of such securities. The Holders shall only use the prospectuses provided by the Company to sell
the Warrant Shares covered by such registration statement, and will immediately cease to use any prospectus furnished by the Company
if the Company advises the Holder that such prospectus may no longer be used due to a material misstatement or omission. Notwithstanding
the provisions of this Section 5.1.2, the Holder shall be entitled to a demand registration under this Section 5.1.2 on only one
(1) occasion and such demand registration right shall terminate on the fifth anniversary of the date of the Underwriting Agreement
(as defined below) in accordance with FINRA Rule 5110(g)(8)(C).

 

    	12

    	 

    

 

5.2
“Piggy-Back” Registration.

 

5.2.1
Grant of Right. In addition to the demand right of registration described in Section 5.1 hereof, the Holder shall have
the right, for a period of no more than five (5) years from the Initial Exercise Date in accordance with FINRA Rule 5110(g)(8)(D),
to include the Registrable Securities as part of any other registration of securities filed by the Company (other than in connection
with a transaction contemplated by Rule 145(a) promulgated under the Securities Act or pursuant to Form S-8 or any equivalent
form); provided, however, that if, solely in connection with any primary underwritten public offering for the account of the Company,
the managing underwriter(s) thereof shall, in its reasonable discretion, impose a limitation on the number of Registrable Securities
that may be included in the Registration Statement because, in such underwriter(s)’ judgment, marketing or other factors
dictate such limitation is necessary to facilitate public distribution, then the Company shall be obligated to include in such
Registration Statement only such limited portion of the Registrable Securities with respect to which the Holder requested inclusion
hereunder as the underwriter shall reasonably permit. Any exclusion of Registrable Securities shall be made pro rata among the
Holders seeking to include Registrable Securities in proportion to the number of Registrable Securities sought to be included
by such Holders; provided, however, that the Company shall not exclude any Registrable Securities unless the Company has first
excluded all outstanding securities, the holders of which are not entitled to inclusion of such securities in such Registration
Statement or are not entitled to pro rata inclusion with the Registrable Securities.

 

5.2.2
Terms. The Company shall bear all fees and expenses attendant to registering the Registrable Securities pursuant to Section
5.2.1 hereof, but the Holders shall pay any and all underwriting commissions and the expenses of any legal counsel selected by
the Holders to represent them in connection with the sale of the Registrable Securities. In the event of such a proposed registration,
the Company shall furnish the then Holders of outstanding Registrable Securities with not less than thirty (30) days written notice
prior to the proposed date of filing of such registration statement. Such notice to the Holders shall continue to be given for
each registration statement filed by the Company during the five (5) year period following the Initial Exercise Date until such
time as all of the Registrable Securities have been sold by the Holder. The holders of the Registrable Securities shall exercise
the “piggy-back” rights provided for herein by giving written notice within ten (10) days of the receipt of the Company’s
notice of its intention to file a registration statement. Except as otherwise provided in this Warrant, there shall be no limit
on the number of times the Holder may request registration under this Section 5.2.2; provided, however, that such registration
rights shall terminate on the third anniversary of the Initial Exercise Date.

 

5.3
General Terms

 

5.3.1
Indemnification. The Company shall indemnify the Holder(s) of the Registrable Securities to be sold pursuant to any registration
statement hereunder and each person, if any, who controls such Holders within the meaning of Section 15 of the Securities Act
or Section 20 (a) of the Exchange Act against all loss, claim, damage, expense or liability (including all reasonable attorneys’
fees and other expenses reasonably incurred in investigating, preparing or defending against any claim whatsoever) to which any
of them may become subject under the Securities Act, the Exchange Act or otherwise, arising from such registration statement but
only to the same extent and with the same effect as the provisions pursuant to which the Company has agreed to indemnify the Underwriters
contained in Section 5.1 of the Underwriting Agreement. The Holder(s) of the Registrable Securities to be sold pursuant to such
registration statement, and their successors and assigns, shall severally, and not jointly, indemnify the Company, against all
loss, claim, damage, expense or liability (including all reasonable attorneys’ fees and other expenses reasonably incurred
in investigating, preparing or defending against any claim whatsoever) to which they may become subject under the Securities Act,
the Exchange Act or otherwise, arising from information furnished by or on behalf of such Holders, or their successors or assigns,
in writing, for specific inclusion in such registration statement to the same extent and with the same effect as the provisions
contained in Section 5.2 of the Underwriting Agreement pursuant to which the Underwriters have agreed to indemnify the Company.

 

    	13

    	 

    

 

5.3.2
Exercise of Warrants. Nothing contained in this Warrant shall be construed as requiring the Holder(s) to exercise their Warrants
prior to or after the initial filing of any registration statement or the effectiveness thereof.

 

5.3.3
Documents Delivered to Holders. The Company shall furnish to each Holder participating in any of the foregoing offerings
and to each underwriter of any such offering, if any, a signed counterpart, addressed to such Holder or underwriter, of: (i) an
opinion of counsel to the Company, dated the effective date of such registration statement (and, if such registration includes
an underwritten public offering, an opinion dated the date of the closing under any underwriting agreement related thereto), and
(ii) a “cold comfort” letter dated the effective date of such registration statement (and, if such registration includes
an underwritten public offering, a letter dated the date of the closing under the underwriting agreement) signed by the independent
registered public accounting firm which has issued a report on the Company’s financial statements included in such registration
statement, in each case covering substantially the same matters with respect to such registration statement (and the prospectus
included therein) and, in the case of such accountants’ letter, with respect to events subsequent to the date of such financial
statements, as are customarily covered in opinions of issuer’s counsel and in accountants’ letters delivered to underwriters
in underwritten public offerings of securities. The Company shall also deliver promptly to each Holder participating in the offering
requesting the correspondence and memoranda described below and to the managing underwriter, if any, copies of all correspondence
between the Commission and the Company, its counsel or auditors and all memoranda relating to discussions with the Commission
or its staff with respect to the registration statement and permit each Holder and underwriter to do such investigation, upon
reasonable advance notice, with respect to information contained in or omitted from the registration statement as it deems reasonably
necessary to comply with applicable securities laws or rules of FINRA. Such investigation shall include access to books, records
and properties and opportunities to discuss the business of the Company with its officers and independent auditors, all to such
reasonable extent and at such reasonable times as any such Holder shall reasonably request.

 

5.3.4
Underwriting Agreement. The Company shall enter into an underwriting agreement with the managing underwriter(s), if any,
selected by any Holders whose Registrable Securities are being registered pursuant to this Section 5, which managing underwriter
shall be reasonably satisfactory to the Company. Such agreement shall be reasonably satisfactory in form and substance to the
Company, each Holder and such managing underwriters, and shall contain such representations, warranties and covenants by the Company
and such other terms as are customarily contained in agreements of that type used by the managing underwriter. The Holders shall
be parties to any underwriting agreement relating to an underwritten sale of their Registrable Securities and may, at their option,
require that any or all the representations, warranties and covenants of the Company to or for the benefit of such underwriters
shall also be made to and for the benefit of such Holders. Such Holders shall not be required to make any representations or warranties
to or agreements with the Company or the underwriters except as they may relate to such Holders, their Warrant Shares and their
intended methods of distribution.

 

5.3.5
Documents to be Delivered by Holder(s). Each of the Holder(s) participating in any of the foregoing offerings shall furnish
to the Company a completed and executed questionnaire provided by the Company requesting information customarily sought of selling
security holders.

 

5.3.6
Damages. Should the registration or the effectiveness thereof required by Sections 5.1 and 5.2 hereof be delayed by the
Company or the Company otherwise fails to comply with such provisions, the Holder(s) shall, in addition to any other legal or
other relief available to the Holder(s), be entitled to obtain specific performance or other equitable (including injunctive)
relief against the threatened breach of such provisions or the continuation of any such breach, without the necessity of proving
actual damages and without the necessity of posting bond or other security.

 

    	14

    	 

    

 

Section
6. Miscellaneous.

 

	 	a)	No
    Rights as Stockholder Until Exercise. This Warrant does not entitle the Holder to any voting rights, dividends or other
    rights as a stockholder of the Company prior to the exercise hereof as set forth in Section 2(d)(i).
	 	 	 
	 	b)	Loss,
    Theft, Destruction or Mutilation of Warrant. The Company covenants that upon receipt by the Company of evidence reasonably
    satisfactory to it of the loss, theft, destruction or mutilation of this Warrant or any certificate relating to the Warrant
    Shares, and in case of loss, theft or destruction, of indemnity or security reasonably satisfactory to it (which, in the case
    of the Warrant, shall not include the posting of any bond), and upon surrender and cancellation of such Warrant or stock certificate,
    if mutilated, the Company will make and deliver a new Warrant or stock certificate of like tenor and dated as of such cancellation,
    in lieu of such Warrant or stock certificate.
	 	 	 
	 	c)	Saturdays,
    Sundays, Holidays, etc. If the last or appointed day for the taking of any action or the expiration of any right required
    or granted herein shall not be a Trading Day, then, such action may be taken or such right may be exercised on the next succeeding
    Trading Day.
	 	 	 
	 	d)	Authorized
    Shares.

 

The
Company covenants that, during the period the Warrant is outstanding, it will reserve from its authorized and unissued Common
Stock a sufficient number of shares to provide for the issuance of the Warrant Shares upon the exercise of any purchase rights
under this Warrant. The Company further covenants that its issuance of this Warrant shall constitute full authority to its officers
who are charged with the duty of issuing the necessary Warrant Shares upon the exercise of the purchase rights under this Warrant.
The Company will take all such reasonable action as may be necessary to assure that such Warrant Shares may be issued as provided
herein without violation of any applicable law or regulation, or of any requirements of the Trading Market upon which the Common
Stock may be listed. The Company covenants that all Warrant Shares which may be issued upon the exercise of the purchase rights
represented by this Warrant will, upon exercise of the purchase rights represented by this Warrant and payment for such Warrant
Shares in accordance herewith, be duly authorized, validly issued, fully paid and nonassessable and free from all taxes, liens
and charges created by the Company in respect of the issue thereof (other than taxes in respect of any transfer occurring contemporaneously
with such issue).

 

Except
and to the extent as waived or consented to by the Holder, the Company shall not by any action, including, without limitation,
amending its certificate of incorporation or through any reorganization, transfer of assets, consolidation, merger, dissolution,
issue or sale of securities or any other voluntary action, avoid or seek to avoid the observance or performance of any of the
terms of this Warrant, but will at all times in good faith assist in the carrying out of all such terms and in the taking of all
such actions as may be necessary or appropriate to protect the rights of Holder as set forth in this Warrant against impairment.
Without limiting the generality of the foregoing, the Company will (i) not increase the par value of any Warrant Shares above
the amount payable therefor upon such exercise immediately prior to such increase in par value, (ii) take all such action as may
be necessary or appropriate in order that the Company may validly and legally issue fully paid and nonassessable Warrant Shares
upon the exercise of this Warrant and (iii) use commercially reasonable efforts to obtain all such authorizations, exemptions
or consents from any public regulatory body having jurisdiction thereof, as may be, necessary to enable the Company to perform
its obligations under this Warrant.

 

    	15

    	 

    

 

Before
taking any action which would result in an adjustment in the number of Warrant Shares for which this Warrant is exercisable or
in the Exercise Price, the Company shall obtain all such authorizations or exemptions thereof, or consents thereto, as may be
necessary from any public regulatory body or bodies having jurisdiction thereof.

 

	 	e)	Jurisdiction.
    All questions concerning the construction, validity, enforcement and interpretation of this Warrant shall be determined in
    accordance with the provisions of the Underwriting Agreement.
	 	 	 
	 	f)	Restrictions.
    The Holder acknowledges that the Warrant Shares acquired upon the exercise of this Warrant, if not registered, and the Holder
    does not utilize cashless exercise, will have restrictions upon resale imposed by state and federal securities laws.
	 	 	 
	 	g)	Nonwaiver
    and Expenses. No course of dealing or any delay or failure to exercise any right hereunder on the part of Holder shall
    operate as a waiver of such right or otherwise prejudice the Holder’s rights, powers or remedies. Without limiting any
    other provision of this Warrant or the Underwriting Agreement, if the Company willfully and knowingly fails to comply with
    any provision of this Warrant, which results in any material damages to the Holder, the Company shall pay to the Holder such
    amounts as shall be sufficient to cover any costs and expenses including, but not limited to, reasonable attorneys’
    fees, including those of appellate proceedings, incurred by the Holder in collecting any amounts due pursuant hereto or in
    otherwise enforcing any of its rights, powers or remedies hereunder.
	 	 	 
	 	h)	Notices.
    Any notice, request or other document required or permitted to be given or delivered to the Holder by the Company shall be
    delivered in accordance with the notice provisions of the Underwriting Agreement.
	 	 	 
	 	i)	Limitation
    of Liability. No provision hereof, in the absence of any affirmative action by the Holder to exercise this Warrant to
    purchase Warrant Shares, and no enumeration herein of the rights or privileges of the Holder, shall give rise to any liability
    of the Holder for the purchase price of any Common Stock or as a stockholder of the Company, whether such liability is asserted
    by the Company or by creditors of the Company.
	 	 	 
	 	j)	Remedies.
    The Holder, in addition to being entitled to exercise all rights granted by law, including recovery of damages, will be entitled
    to specific performance of its rights under this Warrant. The Company agrees that monetary damages would not be adequate compensation
    for any loss incurred by reason of a breach by it of the provisions of this Warrant and hereby agrees to waive and not to
    assert the defense in any action for specific performance that a remedy at law would be adequate.

 

    	16

    	 

    

 

	 	k)	Successors
    and Assigns. Subject to applicable securities laws, this Warrant and the rights and obligations evidenced hereby shall
    inure to the benefit of and be binding upon the successors and permitted assigns of the Company and the successors and permitted
    assigns of Holder. The provisions of this Warrant are intended to be for the benefit of any Holder from time to time of this
    Warrant and shall be enforceable by the Holder or holder of Warrant Shares.
	 	 	 
	 	l)	Amendment.
    This Warrant may be modified or amended or the provisions hereof waived with the written consent of the Company and the Holder.
	 	 	 
	 	m)	Severability.
    Wherever possible, each provision of this Warrant shall be interpreted in such manner as to be effective and valid under applicable
    law, but if any provision of this Warrant shall be prohibited by or invalid under applicable law, such provision shall be
    ineffective to the extent of such prohibition or invalidity, without invalidating the remainder of such provisions or the
    remaining provisions of this Warrant.

 

	 	n)	Headings.
    The headings used in this Warrant are for the convenience of reference only and shall not, for any purpose, be deemed a part
    of this Warrant.

 

********************

 

(Signature
Page Follows)

 

    	17

    	 

    

 

IN
WITNESS WHEREOF, the Company has caused this Warrant to be executed by its officer thereunto duly authorized as of the date first
above indicated.

 

	 	SAVE
    FOODS, Inc.
	 	 
	 	By:	             
	 	Name:	
	 	Title:	

 

    	18

    	 

    

 

NOTICE
OF EXERCISE

 

TO:
SAVE FOODS, Inc.

_________________________

 

(1)
The undersigned hereby elects to purchase ________ Warrant Shares of the Company pursuant to the terms of the attached Warrant
(only if exercised in full), and tenders herewith payment of the exercise price in full, together with all applicable transfer
taxes, if any.

 

(2)
Payment shall take the form of (check applicable box):

 

[  ]
in lawful money of the United States; or

 

[  ]
if permitted the cancellation of such number of Warrant Shares as is necessary, in accordance with the formula set forth in subsection
2(c), to exercise this Warrant with respect to the maximum number of Warrant Shares purchasable pursuant to the cashless exercise
procedure set forth in subsection 2(c).

 

(3)
Please register and issue said Warrant Shares in the name of the undersigned or in such other name as is specified below:

 

_______________________________

 

The
Warrant Shares shall be delivered to the following DWAC Account Number or by physical delivery of a certificate to:

 

_______________________________

 

_______________________________

 

_______________________________

 

(4)
Accredited Investor. If the Warrant is being exercised via cash exercise, the undersigned is an “accredited investor”
as defined in Regulation D promulgated under the Securities Act of 1933, as amended

 

[SIGNATURE
OF HOLDER]

 

Name
of Investing Entity: _______________________________________________________________

 

Signature
of Authorized Signatory of Investing Entity: _________________________________________

 

Name
of Authorized Signatory: ___________________________________________________________

 

Title
of Authorized Signatory: ____________________________________________________________

 

Date:
________________________________________________________________________________

 

    	19

    	 

    

 

ASSIGNMENT
FORM

 

(To
assign the foregoing warrant, execute

this
form and supply required information.

Do
not use this form to exercise the warrant.)

 

FOR
VALUE RECEIVED, [____] all of or [_______] shares of the foregoing Warrant and all rights evidenced thereby are hereby assigned
to

 

_______________________________________________
whose address is

 

_______________________________________________________________.

 

_______________________________________________________________

 

Dated:
______________, _______

 

Holder’s
Signature: _____________________________

 

Holder’s
Address: _____________________________

 

 _____________________________

 

NOTE:
The signature to this Assignment Form must correspond with the name as it appears on the face of the Warrant, without alteration
or enlargement or any change whatsoever. Officers of corporations and those acting in a fiduciary or other representative capacity
should file proper evidence of authority to assign the foregoing Warrant.

 

    	20Exhibit
10.1

 

SAVE
FOODS, INC.

 

2018
EQUITY INCENTIVE PLAN

 

1. Purposes of the Plan. The purposes of this Plan are:

 

	 	●	to
    attract and retain the best available personnel for positions of substantial responsibility,
	 	 	 
	 	●	to
    provide incentives to individuals who perform services for the Company, and
	 	 	 
	 	●	to
    promote the success of the Company’s business.

 

The
Plan permits the grant of Incentive Stock Options, Non-statutory Stock Options, Stock Appreciation Rights, Restricted Stock, Restricted
Stock Units, Performance Units, Performance Shares and other stock or cash awards as the Administrator may determine.

 

2. Definitions. As used herein, the following definitions will apply:

 

(a)
“Administrator” means the Board or any of its Committees as will be administering the Plan, in accordance with
Section 4 hereof.

 

(b)
“Affiliate” means any corporation or any other entity (including, but not limited to, partnerships and joint
ventures) controlling, controlled by, or under common control with the Company.

 

(c)
“Applicable Laws” means the requirements relating to the administration of equity-based awards under U.S. federal
and state corporate laws, U.S. federal and state securities laws, the Code, any stock exchange or quotation system on which the
Common Stock is listed or quoted and the applicable laws of any foreign country or jurisdiction where Awards are, or will be,
granted under the Plans.

 

(d)
“Award” means, individually or collectively, a grant under the Plan of Options, Stock Appreciation Rights,
Restricted Stock, Restricted Stock Units, Performance Units, Performance Shares and other stock or cash awards as the Administrator
may determine.

 

(e)
“Award Agreement” means the written agreement setting forth the terms and provisions applicable to each Award
granted under the Plan. The Award Agreement is subject to the terms and conditions of the Plan.

 

(f)
“Board” means the Board of Directors of the Company.

 

(g)
“Change in Control” means the occurrence of any of the following events after the Effective Date:

 

	 	(i)	A
    change in the ownership of the Company which occurs on the date that any one person, or more than one person acting as a group
    (“Person”), acquires ownership of stock in the Company that, together with the stock already held by such
    Person, constitutes more than 50% of the total voting power of the stock of the Company; provided, however, that for purposes
    of this subsection (i), the acquisition of additional stock by any Person who is considered to own more than 50% of the total
    voting power of the stock of the Company before the acquisition will not be considered a Change in Control; or

 

	 	(ii)	The
    individuals who constitute the members of the Board cease, by reason of a financing, merger, combination, acquisition, takeover
    or other non-ordinary course transaction affecting the Company, to constitute at least fifty-one percent (51%) of the members
    of the Board; or
	 	 	 
	 	(iii)	The
    consummation of any of the following events: (A) a change in the ownership of a substantial portion of the Company’s
    assets, which occurs on the date that any Person acquires (or has acquired during the twelve (12) month period ending on the
    date of the most recent acquisition by such Person) assets from the Company that have a total gross fair market value equal
    to or more than 50% of the total gross fair market value of all of the assets of the Company immediately prior to such acquisition
    or acquisitions, or (B) a merger, consolidation or reorganization involving the Company, where either or both of the events
    described in clauses (i) or (ii) above would be the result. For purposes of this subsection (iii), the following will not
    constitute a change in the ownership of a substantial portion of the Company’s assets or a Change in Control: (A) a
    transfer to an entity that is controlled by the Company’s stockholders immediately after the transfer, or (B) a transfer
    of assets by the Company to: (1) a stockholder of the Company (immediately before the asset transfer) in exchange for or with
    respect to the Company’s stock, (2) an entity, 50% or more of the total value or voting power of which is owned, directly
    or indirectly, by the Company, (3) a Person that owns, directly or indirectly, 50% or more of the total value or voting power
    of all the outstanding stock of the Company, or (4) an entity, at least 50% of the total equity or voting power of which is
    owned, directly or indirectly, by a Person described in subsection (iii)(B)(3) above. For purposes of this subsection (iii),
    gross fair market value means the value of the assets of the Company, or the value of the assets being disposed of, determined
    without regard to any liabilities associated with such assets.

 

    	 	 	 

    	 

    

 

For
purposes of this Section 2(g), persons will be considered to be acting as a group if they are owners of a corporation or other
entity that enters into a merger, consolidation, purchase or acquisition of stock, or similar business transaction with the Company.

 

(h)
“Code” means the Internal Revenue Code of 1986, as amended. Any reference to a section of the Code herein will
be a reference to any successor or amended section of the Code.

 

(i)
“Committee” means a committee of Directors or of other individuals satisfying Applicable Laws appointed by
the Board in accordance with Section 4 hereof.

 

(j)
“Common Stock” means the common stock, par value $0.0001 per share, of the Company.

 

(k)
“Company” means Save Foods Inc., a Delaware corporation, or any successor thereto.

 

(l)
“Consultant” means any person, including an advisor, other than an Employee engaged by the Company or a Parent,
Subsidiary or Affiliate to render services to such entity.

 

(m)
This section is left intentionally blank.

 

(n)
“Director” means a member of the Board.

 

(o)
“Disability” means permanent and total disability as defined in Section 22(e)(3) of the Code, provided that
in the case of Awards other than Incentive Stock Options, the Administrator in its discretion may determine whether a permanent
and total disability exists in accordance with uniform and non-discriminatory standards adopted by the Administrator from time
to time.

 

(p)
“Effective Date” shall have the meaning set forth in Section 18 hereof.

 

(q)
“Employee” means any person, including Officers and Directors, other than a Consultant employed by the Company
or any Parent, Subsidiary or Affiliate of the Company. Neither service as a Director nor payment of a director’s fee by
the Company will be sufficient to constitute “employment” by the Company.

 

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

 

(s)
“Exchange Program” means a program under which (i) outstanding Awards are surrendered or cancelled in exchange
for Awards of the same type (which may have lower exercise prices and different terms), Awards of a different type, and/or cash,
and/or (ii) the exercise price of an outstanding Award is reduced. The Administrator will determine the terms and conditions of
any Exchange Program in its sole discretion.

 

(t)
“Fair Market Value” means, as of any date, the value of the Common Stock as the Administrator may determine
in good faith, by reference to the closing price of such stock on any established stock exchange or on a national market system
on the day of determination, if the Common Stock is so listed on any established stock exchange or on a national market system.
If the Common Stock is not listed on any established stock exchange or on a national market system, the value of the Common Stock
will be determined as the Administrator may determine in good faith using (i) a valuation methodology set forth in Treasury Regulation
1.409A-1(b)(5)(iv)(B) or (ii) with respect to valuations applicable to Awards that are not subject to Code Section 409A, such
other valuation methods as the Administrator may select.

 

(u)
“Fiscal Year” means the fiscal year of the Company.

 

(v)
“Incentive Stock Option” means an Option that by its terms qualifies and is otherwise intended to qualify as
an incentive stock option within the meaning of Section 422 of the Code and the regulations promulgated thereunder.

 

(w)
“Non-statutory Stock Option” means an Option that by its terms does not qualify or expressly provides that
it is not intended to qualify as an Incentive Stock Option.

 

(x)
“Officer” means a person who is an officer of the Company within the meaning of Section 16 of the Exchange
Act and the rules and regulations promulgated thereunder.

 

(y)
“Option” means a stock option granted pursuant to Section 6 hereof.

 

    	 	2	 

    	 

    

 

(z)
“Parent” means a “parent corporation,” whether now or hereafter existing, as defined in Section
424(e) of the Code.

 

(aa)
“Participant” means the holder of an outstanding Award.

 

(bb)
“Performance Goals” will have the meaning set forth in Section 11 hereof.

 

(cc)
“Performance Period” means any Fiscal Year of the Company or such other period as determined by the Administrator
in its sole discretion.

 

(dd)
“Performance Share” means an Award denominated in Shares which may be earned in whole or in part upon attainment
of Performance Goals or other vesting criteria as the Administrator may determine pursuant to Section 10 hereof.

 

(ee)
“Performance Unit” means an Award which may be earned in whole or in part upon attainment of Performance Goals
or other vesting criteria as the Administrator may determine and which may be settled for cash, Shares or other securities or
a combination of the foregoing pursuant to Section 10 hereof.

 

(ff)
“Period of Restriction” means the period during which transfers of Shares of Restricted Stock are subject to
restrictions and, therefore, the Shares are subject to a substantial risk of forfeiture. Such restrictions may be based on the
passage of time, the achievement of target levels of performance, or the occurrence of other events specified in the applicable
Award, as interpreted and construed by the Administrator.

 

(gg)
“Plan” means this 2018 Equity Incentive Plan.

 

(hh)
“Restricted Stock” means Shares issued pursuant to an Award of Restricted Stock under Section 8 hereof, or
issued pursuant to the early exercise of an Option.

 

(ii)
“Restricted Stock Unit” means a bookkeeping entry representing an amount equal to the Fair Market Value of
one Share, granted pursuant to Section 9 hereof. Each Restricted Stock Unit represents an unfunded and unsecured obligation of
the Company.

 

(jj)
“Rule 16b-3” means Rule 16b-3 of the Exchange Act or any successor to Rule 16b-3, as in effect when discretion
is being exercised with respect to the Plan.

 

(kk)
“Section 16(b)” means Section 16(b) of the Exchange Act.

 

(ll)
“Service Provider” means an Employee, Director or Consultant.

 

(mm)
“Share” means a share of Common Stock, as adjusted in accordance with Section 14 hereof.

 

(nn)
“Stock Appreciation Right” means an Award, granted alone or in connection with an Option, that pursuant to
Section 7 is designated as a Stock Appreciation Right.

 

(oo)
“Subsidiary” means a “subsidiary corporation,” whether now or hereafter existing, as defined in
Section 424(f) of the Code.

 

3.
Stock Subject to the Plan.

 

(a)
Maximum Aggregate Number of Shares. Subject to the provisions of Section 13 hereof, the maximum aggregate number of Shares
that may be awarded and sold under the Plan is 20,000,000. The Shares may be authorized, but unissued, or reacquired Common Stock.

 

(b)
Lapsed Awards. If an Award expires or becomes unexercisable without having been exercised in full, or, with respect to
Restricted Stock, Restricted Stock Units, Performance Shares or Performance Units, is forfeited to or repurchased by the Company,
the unpurchased Shares (or for Awards other than Options and Stock Appreciation Rights, the forfeited or repurchased Shares) which
were subject thereto will become available for future grant or sale under the Plan (unless the Plan has terminated). Upon exercise
of a Stock Appreciation Right settled in Shares, the gross number of Shares covered by the portion of the Award so settled will
cease to be available under the Plan. Shares that have actually been issued under the Plan under any Award will not be returned
to the Plan and will not become available for future distribution under the Plan; provided, however, that if unvested Shares of
Restricted Stock, Restricted Stock Units, Performance Shares or Performance Units are repurchased by the Company or are forfeited
to the Company, such Shares will become available for future grant under the Plan. Shares subject to an Award that are transferred
to or retained by the Company to pay the tax and/or exercise price of an Award will become available for future grant or sale
under the Plan. To the extent an Award under the Plan is paid out in cash rather than Shares, such cash payment will not result
in reducing the number of Shares available for issuance under the Plan and, for the elimination of doubt, the number of Shares
of equal value to such cash payment shall become available for future grant or sale under the Plan. Notwithstanding the foregoing
provisions of this Section 3(b), subject to adjustment provided in Section 13 hereof, the maximum number of Shares that may be
issued upon the exercise of Incentive Stock Options will equal the aggregate Share number stated in Section 3(a) above, plus,
to the extent allowable under Section 422 of the Code, any Shares that become available for issuance under the Plan under this
Section 3(b).

 

    	 	3	 

    	 

    

 

(c)
Share Reserve. The Company, during the term of this Plan, will at all times reserve and keep available such number of Shares
as will be sufficient to satisfy the requirements of the Plan.

 

4. Administration of the Plan.

 

(a)
Procedure.

 

	 	(i)	Multiple
    Administrative Bodies. Different Committees may be established with respect to different groups of Service Providers;
    in that event, the Committee established with respect to a group of Service Providers shall administer the Plan with respect
    to Awards granted to members of such group.
	 	 	 
	  	(ii)	Rule
    16b-3. To the extent desirable to qualify transactions hereunder as exempt under Rule 16b-3, the transactions contemplated
    hereunder will be structured to satisfy the requirements for exemption under Rule 16b-3.
	 	 	 
	  	(iii)	Other
    Administration. Other than as provided above, the Plan will be administered by (A) the Board or (B) a Committee, which
    committee will be constituted to satisfy Applicable Laws.

 

(b)
Powers of the Administrator. Subject to the provisions of the Plan, and in the case of a Committee, subject to the specific
duties delegated by the Board to such Committee, the Administrator will have the authority, in its discretion:

 

	 	(i)	to determine Fair Market Value;
	 	 	 
	 	(ii)	to select the Service Providers to whom Awards may be granted hereunder;
	 	 	 
	 	(iii)	to determine the terms and condition, not inconsistent with the terms of the Plan, of any Award granted hereunder;
	 	 	 
	 	(iv)	to institute an Exchange Program and to determine the terms and conditions, not inconsistent with the terms of the Plan, for (1) the surrender or cancellation of outstanding Awards in exchange for Awards of the same type, Awards of a different type, and/or cash, or (2) the reduction of the exercise price of outstanding Awards;
	 	 	 
	 	(v)	to construe and interpret the terms of the Plan and Awards granted pursuant to the Plan;
	 	 	 
	 	(vi)	to prescribe, amend and rescind rules and regulations relating to the Plan, including rules and regulations relating to sub-plans established for the purpose of satisfying applicable foreign laws;
	 	 	 
	 	(vii)	to modify or amend each Award (subject to Section 19(c) hereof);
	 	 	 
	 	(viii)	to authorize any person to execute on behalf of the Company any instrument required to reflect or implement the grant of an Award previously granted by the Administrator;
	 	 	 
	 	(ix)	to allow a Participant to defer the receipt of the payment of cash or the delivery of Shares that would otherwise be due to such Participant under an Award pursuant to such procedures as the Administrator may determine consistent with the requirements for compliance with or exemption from the provisions of Code Section 409A; and
	 	 	 
	 	(x)	to make all other determinations deemed necessary or advisable for administering the Plan.

 

(c)
Effect of Administrator’s Decision. The Administrator’s decisions, determinations, and interpretations will
be final and binding on all Participants and any other holders of Awards.

 

    	 	4	 

    	 

    

 

5. Eligibility.

 

(a)
General Rule. Non-statutory Stock Options, Restricted Stock, Restricted Stock Units, Stock Appreciation Rights, Performance
Units, Performance Shares, and such other cash or stock awards as the Administrator determines may be granted to Service Providers.
Incentive Stock Options may be granted only to Employees.

 

6. Stock Options.

 

(a)
Limitations.

 

	 	(i)	Each
    Option will be designated in the Award Agreement as either an Incentive Stock Option or a Non-statutory Stock Option. However,
    notwithstanding such designation, to the extent that the aggregate Fair Market Value of the Shares with respect to which Incentive
    Stock Options are exercisable for the first time by the Participant during any calendar year (under all plans of the Company
    and any Parent or Subsidiary) exceeds $100,000 (U.S.), such Options will be treated as Non-statutory Stock Options. For purposes
    of this Section 6(a), Incentive Stock Options will be taken into account in the order in which they were granted. The Fair
    Market Value of the Shares will be determined as of the time the Option with respect to such Shares is granted.

 

	 	(ii)	Subject
    to the limits set forth in Section 3, the Administrator will have complete discretion to determine the number of Shares subject
    to an Option granted to any Participant.

 

(b)
Term of Option. The Administrator will determine the term of each Option in its sole discretion; provided, however, that
the term will be no more than ten (10) years from the date of grant thereof in the case of Incentive Stock Options. Moreover,
in the case of an Incentive Stock Option granted to a Participant who, at the time the Incentive Stock Option is granted, owns
stock representing more than 10% of the total combined voting power of all classes of stock of the Company or any Parent or Subsidiary,
the term of the Incentive Stock Option will be five (5) years from the date of grant or such shorter term as may be provided in
the Award Agreement.

 

(c)
Option Exercise Price and Consideration.

 

	 	(i)	Exercise
    Price. The per share exercise price for the Shares to be issued pursuant to exercise of an Option will be determined by
    the Administrator. In the case of an Incentive Stock Option granted to an Employee who, at the time the Incentive Stock Option
    is granted, owns stock representing more than 10% of the voting power of all classes of stock of the Company or any Parent
    or Subsidiary, the per Share exercise price will be no less than 110% of the Fair Market Value per Share on the date of grant.
    Notwithstanding the foregoing provisions of this Section 6(c), Options may be granted with a per Share exercise price of less
    than 100% of the Fair Market Value per Share on the date of grant pursuant to the issuance or assumption of an Option in a
    transaction to which Section 424(a) of the Code applies in a manner consistent with said Section 424(a).
	 	 	 
	  	(ii)	Waiting
    Period and Exercise Dates. At the time an Option is granted, the Administrator will fix the period within which the Option
    may be exercised and will determine any conditions that must be satisfied before the Option may be exercised.
	 	 	 
	 	(iii)	Form
    of Consideration. The Administrator will determine the acceptable form(s) of consideration for exercising an Option, including
    the method of payment, to the extent permitted by Applicable Laws.

 

(d)
Exercise of Option.

 

	 	(i)	Procedure
    for Exercise; Rights as a Stockholder. Any Option granted hereunder will be exercisable according to the terms of the
    Plan and at such times and under such conditions as determined by the Administrator and set forth in the Award Agreement.
    An Option may not be exercised for a fraction of a Share.

 

An
Option will be deemed exercised when the Company receives: (i) notice of exercise (in such form as the Administrator specifies
from time to time) from the person entitled to exercise the Option, and (ii) full payment for the Shares with respect to which
the Option is exercised (together with any applicable withholding taxes). No adjustment will be made for a dividend or other right
for which the record date is prior to the date the Shares are issued, except as provided in Section 14 hereof.

 

    	 	5	 

    	 

    

 

	 	(ii)	Termination
    of Relationship as a Service Provider. If a Participant ceases to be a Service Provider, other than upon the Participant’s
    termination as the result of the Participant’s death or Disability, the Participant may exercise his or her Option within
    such period of time as is specified in the Award Agreement to the extent that the Option is vested on the date of termination
    (but in no event later than the expiration of the term of such Option as set forth in the Award Agreement). In the absence
    of a specified time in the Award Agreement, the Option will remain exercisable for three (3) months following the Participant’s
    termination. Unless otherwise provided by the Administrator, if on the date of termination the Participant is not vested as
    to his or her entire Option, the Shares covered by the unvested portion of the Option will revert to the Plan. If after termination
    the Participant does not exercise his or her Option within the time specified by Award Agreement or by operation of this Section
    6(d)(3), the Option will terminate, and the Shares covered by such Option will revert to the Plan.
	 	 	 
	  	(iii)	Disability
                                         of Participant. If a Participant ceases to be a Service Provider as a result of the
                                         Participant’s Disability, the Participant may exercise his or her Option within
                                         such period of time as is specified in the Award Agreement to the extent the Option is
                                         vested on the date of cessation (but in no event later than the expiration of the term
                                         of such Option as set forth in the Award Agreement). In the absence of a specified time
                                         in the Award Agreement, the Option will remain exercisable for six (6) months following
                                         the date the Participant ceases to be a Service Provider. Unless otherwise provided by
                                         the Administrator, if on the date of cessation the Participant is not vested as to his
                                         or her entire Option, the Shares covered by the unvested portion of the Option will revert
                                         to the Plan. If after cessation the Participant does not exercise his or her Option within
                                         the time specified herein, the Option will terminate, and the Shares covered by such
                                         Option will revert to the Plan.

        

	 	 	 
	 	(iv)	Death
    of Participant. If a Participant dies while a Service Provider, the Option may be exercised within such period of time
    as is specified in the Award Agreement to the extent that the Option is vested on the date of death (but in no event may the
    option be exercised later than the expiration of the term of such Option as set forth in the Award Agreement), by the Participant’s
    beneficiary, provided such beneficiary has been designated prior to Participant’s death in a form acceptable to the
    Administrator. If no such beneficiary has been designated by the Participant, then such Option may be exercised by the personal
    representative of the Participant’s estate or by the person(s) to whom the Option is transferred pursuant to the Participant’s
    will or in accordance with the laws of descent and distribution. In the absence of a specified time in the Award Agreement,
    the Option will remain exercisable for six (6) months following Participant’s death. Unless otherwise provided by the
    Administrator, if at the time of death Participant is not vested as to his or her entire Option, the Shares covered by the
    unvested portion of the Option will continue to vest in accordance with the Award Agreement. If the Option is not so exercised
    within the time specified herein, the Option will terminate, and the Shares covered by such Option will revert to the Plan.

 

7.
Stock Appreciation Rights.

 

(a)
Grant of Stock Appreciation Rights. Subject to the terms and conditions of the Plan, a Stock Appreciation Right may be
granted to Service Providers at any time and from time to time as will be determined by the Administrator, in its sole discretion.

 

(b)
Number of Shares. The Administrator will have complete discretion to determine the number of Stock Appreciation Rights
granted to any Participant.

 

(c)
Exercise Price and Other Terms. The Administrator, subject to the provisions of the Plan, will have complete discretion
to determine the terms and conditions of Stock Appreciation Rights granted under the Plan.

 

(d)
Stock Appreciation Rights Agreement. Each Stock Appreciation Right grant will be evidenced by an Award Agreement that will
specify the exercise price, the number of Shares with respect to which the Award is granted, the term of the Stock Appreciation
Right, the conditions of exercise, and such other terms and conditions as the Administrator, in its sole discretion, will determine.

 

(e)
Expiration of Stock Appreciation Rights. A Stock Appreciation Right granted under the Plan will expire upon the date determined
by the Administrator, in its sole discretion, and set forth in the Award Agreement; provided, however, that the term will be no
more than ten (10) years from the date of grant thereof. Notwithstanding the foregoing, the rules of Section 6(d) above also will
apply to Stock Appreciation Rights.

 

(f)
Payment of Stock Appreciation Right Amount. Upon exercise of a Stock Appreciation Right, a Participant will be entitled
to receive payment from the Company in an amount determined by multiplying:

 

	 	(i)	The difference between the Fair Market Value of a Share on the date of exercise over the “stock appreciation right exercise price,” as defined under Treasury Regulation Section 1.409A-1(b)(i)(B)(2), i.e., the Fair Market Value of a Share on the date of grant of the Stock Appreciation Right; times
	 	 	 
	 	(ii)	The number of Shares with respect to which the Stock Appreciation Right is exercised.

 

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At
the discretion of the Administrator, the payment upon Stock Appreciation Right exercise may be in cash, in Shares of equivalent
value, or in some combination thereof.

 

8.
Restricted Stock.

 

(a)
Grant of Restricted Stock. Subject to the terms and provisions of the Plan, the Administrator, at any time and from time
to time, may grant Shares of Restricted Stock to Service Providers in such amounts as the Administrator, in its sole discretion,
will determine.

 

(b)
Restricted Stock Agreement. Each Award of Restricted Stock will be evidenced by an Award Agreement that will specify the
Period of Restriction, the number of Shares granted, and such other terms and conditions as the Administrator, in its sole discretion,
will determine.

 

(c)
Transferability. Except as provided in this Section 8, Shares of Restricted Stock may not be sold, transferred, pledged,
assigned, or otherwise alienated or hypothecated until such Shares become non-forfeitable at the end of the applicable Period
of Restriction.

 

(d)
Other Restrictions. The Administrator, in its sole discretion, may impose such other restrictions on Shares of Restricted
Stock as it may deem advisable or appropriate.

 

(e)
Removal of Restrictions. Except as otherwise provided in this Section 8, Shares of Restricted Stock covered by each Restricted
Stock grant made under the Plan will be released from escrow as soon as practicable after the last day of the Period of Restriction.
The Administrator, in its discretion, may accelerate the time at which any restrictions will lapse or be removed.

 

(f)
Voting Rights. During the Period of Restriction, Service Providers holding Shares of Restricted Stock granted hereunder
may exercise full voting rights with respect to those Shares, unless the Administrator determines otherwise in a manner not prohibited
by the Award Agreement.

 

(g)
Dividends and Other Distributions. During the Period of Restriction, Service Providers holding Shares of Restricted Stock
will be entitled to receive all dividends and other distributions paid with respect to such Shares unless otherwise provided in
the Award Agreement. If any such dividends or distributions are paid in Shares, the Shares will be subject to the same restrictions
on transferability and provisions for forfeiture as the Shares of Restricted Stock with respect to which they were paid.

 

(h)
Return of Restricted Stock to Company. On the date set forth in the Award Agreement, the Restricted Stock for which restrictions
have not lapsed will revert to the Company and again will become available for grant under the Plan.

 

(i) Tax
Law Changes. The recently-enacted Tax Cuts and Jobs Act of 2017 (“TCJA”) repealed the
“performance-based compensation” exemption for awards granted after November 2, 2017. Accordingly, this Plan does
not include certain grants of awards intended to qualify as “performance-based compensation” under Section 162(m)
of the Internal Revenue Code of 1986, as amended (the “Code”). We cannot exchange outstanding options or stock
appreciation rights for full value awards, such as restricted stock or restricted stock units, at a time when the exercise
price for such options or stock appreciation rights exceed the then current fair market value of our common stock.

 

9.
Restricted Stock Units.

 

(a)
Grant. Restricted Stock Units may be granted at any time and from time to time as determined by the Administrator. Each
Restricted Stock Unit grant will be evidenced by an Award Agreement that will specify such other terms and conditions as the Administrator,
in its sole discretion, will determine in accordance with the terms and conditions of the Plan, including all terms, conditions,
and restrictions related to the grant, the number of Restricted Stock Units and the form of payout, which, subject to Section
9(d) hereof, may be left to the discretion of the Administrator.

 

(b)
Vesting Criteria and Other Terms. The Administrator will set vesting criteria in its discretion, which, depending on the
extent to which the criteria are met, will determine the number of Restricted Stock Units that will be paid out to the Participant.
After the grant of Restricted Stock Units, the Administrator, in its sole discretion, may reduce or waive any restrictions for
such Restricted Stock Units. Each Award of Restricted Stock Units will be evidenced by an Award Agreement that will specify the
vesting criteria, and such other terms and conditions as the Administrator, in its sole discretion will determine. The Administrator,
in its discretion, may accelerate the time at which any restrictions will lapse or be removed, subject to the prohibition on acceleration
of the timing of distribution of deferred compensation subject to Section 409A of the Code, to the extent applicable to the Award.

 

    	 	7	 

    	 

    

 

(c)
Earning Restricted Stock Units. Upon meeting the applicable vesting criteria, the Participant will be entitled to receive
a payout as specified in the Award Agreement.

 

(d)
Form and Timing of Payment. Payment of earned Restricted Stock Units will be made as soon as practicable after the date(s)
set forth in the Award Agreement, which shall satisfy the requirements of Section 409A of the Code, to the extent applicable to
such Award. The Administrator, in its sole discretion, may pay earned Restricted Stock Units in cash, Shares, or a combination
thereof. Shares represented by Restricted Stock Units that are fully paid in cash again will be available for grant under the
Plan.

 

(e)
Cancellation. On the date set forth in the Award Agreement, all unearned Restricted Stock Units will be forfeited to the
Company.

 

10.
Performance Units and Performance Shares.

 

(a)
Grant of Performance Units/Shares. Performance Units and Performance Shares may be granted to Service Providers at any
time and from time to time, as will be determined by the Administrator, in its sole discretion. The Administrator will have complete
discretion in determining the number of Performance Units/Shares granted to each Participant.

 

(b)
Value of Performance Units/Shares. Each Performance Unit will have an initial value that is established by the Administrator
on or before the date of grant. Each Performance Share will have an initial value equal to the Fair Market Value of a Share on
the date of grant.

 

(c)
Performance Objectives and Other Terms. The Administrator will set performance objectives or other vesting provisions.
The Administrator may set vesting criteria based upon the achievement of Company-wide, business unit, or individual goals (including,
but not limited to, continued employment), or any other basis determined by the Administrator in its discretion. Each Award of
Performance Units/Shares will be evidenced by an Award Agreement that will specify the Performance Period, and such other terms
and conditions as the Administrator, in its sole discretion, will determine.

 

(d)
Earning of Performance Units/Shares. After the applicable Performance Period has ended, the holder of Performance Units/Shares
will be entitled to receive a payout of the number of Performance Units/Shares earned by the Participant over the Performance
Period, to be determined as a function of the extent to which the corresponding performance objectives or other vesting provisions
have been achieved. After the grant of a Performance Unit/Share, the Administrator, in its sole discretion, may reduce or waive
any performance objectives or other vesting provisions for such Performance Unit/Share.

 

(e)
Form and Timing of Payment of Performance Units/Shares. Payment of earned Performance Units/Shares will be made as soon
as practicable after the expiration of the applicable Performance Period or, if earlier, after the date on which a Participant’s
interest in such Performance Units/Shares is no longer subject to a substantial risk of forfeiture, provided however, that in
no event shall such payment be made after the later to occur of (i) December 31 of the year in which such risk of forfeiture lapses
or (ii) two and one-half months after such risk of forfeiture lapses. The Administrator, in its sole discretion, may pay earned
Performance Units/Shares in the form of cash, in Shares (which have an aggregate Fair Market Value equal to the value of the earned
Performance Units/Shares at the close of the applicable Performance Period) or in a combination thereof.

 

(f)
Cancellation of Performance Units/Shares. On the date set forth in the Award Agreement, all unearned or unvested Performance
Units/Shares will be forfeited to the Company, and again will be available for grant under the Plan.

 

11.
Leaves of Absence. Unless the Administrator provides otherwise, vesting of Awards granted hereunder will be suspended during
any unpaid leave of absence. A Service Provider will not cease to be an Employee in the case of (i) any leave of absence approved
by the Company, or (ii) transfers between locations of the Company or between the Company, its Parent, or any Subsidiary. For
purposes of Incentive Stock Options, no such leave may exceed three (3) months, unless reemployment upon expiration of such leave
is guaranteed by statute or contract. If reemployment upon expiration of a leave of absence approved by the Company is not so
guaranteed, then six (6) months and one day following the commencement of such leave any Incentive Stock Option held by the Participant
will cease to be treated as an Incentive Stock Option and will be treated for tax purposes as a Nonstatutory Stock Option.

 

12.
Transferability of Awards. Unless determined otherwise by the Administrator, an Award may not be sold, pledged, assigned,
hypothecated, transferred, or disposed of in any manner other than by will or by the laws of descent or distribution and may be
exercised, during the lifetime of the Participant, only by the Participant. If the Administrator makes an Award transferable,
such Award may only be transferred (i) by will, (ii) by the laws of descent and distribution, (iii) to a revocable trust, or (iv)
as permitted by Rule 701 of the Securities Act of 1933, as amended.

 

    	 	8	 

    	 

    

 

13.
Adjustments; Dissolution or Liquidation; Merger or Change in Control.

 

(a)
Adjustments. In the event that any dividend or other distribution (whether in the form of cash, Shares, other securities,
or other property), recapitalization, stock split, reverse stock split, reorganization, merger, consolidation, split-up, spin-off,
combination, repurchase, or exchange of Shares or other securities of the Company, or other change in the corporate structure
of the Company affecting the Shares occurs, the Administrator, in order to prevent diminution or enlargement of the benefits or
potential benefits intended to be made available under the Plan, will adjust the number and class of Shares that may be delivered
under the Plan and/or the number, class, and price of Shares covered by each outstanding Award, and the numerical Share limits
set forth in Sections 3, 6, 7, 8, 9 and 10 hereof.

 

(b)
Dissolution or Liquidation. In the event of the proposed dissolution or liquidation of the Company, the Administrator will
notify each Participant as soon as practicable prior to the effective date of such proposed transaction. To the extent it has
not been previously exercised, an Award will terminate immediately prior to the consummation of such proposed action.

 

(c)
Change in Control. In the event of a merger or Change in Control, each outstanding Award will be treated as the Administrator
determines, including, without limitation, that each Award will be assumed or an equivalent option or right substituted by the
successor corporation or a Parent or Subsidiary of the successor corporation (the “Successor Corporation”).
The Administrator will not be required to treat all Awards similarly in the transaction.

 

In
the event that the Successor Corporation does not assume or substitute for the Award, the Participant will fully vest in and have
the right to exercise all of his or her outstanding Options and Stock Appreciation Rights, including Shares as to which such Awards
would not otherwise be vested or exercisable, all restrictions on Restricted Stock will lapse, and, with respect to Restricted
Stock Units, Performance Shares and Performance Units, all Performance Goals or other vesting criteria will be deemed achieved
at target levels and all other terms and conditions met. In addition, if an Option or Stock Appreciation Right is not assumed
or substituted for in the event of a Change in Control, the Administrator will notify the Participant in writing or electronically
that the Option or Stock Appreciation Right will be fully vested and exercisable for a period of time determined by the Administrator
in its sole discretion, and the Option or Stock Appreciation Right will terminate upon the expiration of such period.

 

For
the purposes of this subsection (c), an Award will be considered assumed if, following the Change in Control, the Award confers
the right to purchase or receive, for each Share subject to the Award immediately prior to the Change in Control, the consideration
(whether stock, cash, or other securities or property) or, in the case of a Stock Appreciation Right upon the exercise of which
the Administrator determines to settle in cash or a Performance Share or Performance Unit which the Administrator can determine
to settle in cash, the fair market value of the consideration received in the merger or Change in Control by holders of Common
Stock for each Share held on the effective date of the transaction (and if holders were offered a choice of consideration, the
type of consideration chosen by the holders of a majority of the outstanding Shares); provided, however, that if such consideration
received in the Change in Control is not solely common stock of the Successor Corporation, the Administrator may, with the consent
of the Successor Corporation, provide for the consideration to be received upon the exercise of an Option or Stock Appreciation
Right or upon the payout of a Performance Share or Performance Unit, for each Share subject to such Award (or in the case of Performance
Units, the number of implied shares determined by dividing the value of the Performance Units by the per share consideration received
by holders of Common Stock in the Change in Control), to be solely common stock of the Successor Corporation equal in fair market
value to the per share consideration received by holders of Common Stock in the Change in Control.

 

Notwithstanding
anything in this Section 14(c) to the contrary, an Award that vests, is earned or paid-out upon the satisfaction of one or more
Performance Goals will not be considered assumed if the Company or its successor modifies any of such Performance Goals without
the Participant’s consent; provided, however, a modification to such Performance Goals only to reflect the Successor Corporation’s
post-Change in Control corporate structure will not be deemed to invalidate an otherwise valid Award assumption.

 

14.
Tax Withholding

 

(a)
Withholding Requirements. Prior to the delivery of any Shares or cash pursuant to an Award (or exercise thereof), the Company
will have the power and the right to deduct or withhold, or require a Participant to remit to the Company, an amount sufficient
to satisfy federal, state, local, foreign or other taxes (including the Participant’s FICA obligation) required to be withheld
with respect to such Award (or exercise thereof).

 

(b)
Withholding Arrangements. The Administrator, in its sole discretion and pursuant to such procedures as it may specify from
time to time, may permit a Participant to satisfy such tax withholding obligation, in whole or in part by (without limitation)
(i) paying cash, (ii) electing to have the Company withhold otherwise deliverable cash or Shares having a Fair Market Value equal
to the minimum amount required to be withheld, (iii) delivering to the Company already-owned Shares having a Fair Market Value
equal to the amount required to be withheld, or (iv) selling a sufficient number of Shares otherwise deliverable to the Participant
through such means as the Administrator may determine in its sole discretion (whether through a broker or otherwise) equal to
the amount required to be withheld. The amount of the withholding requirement will be deemed to include any amount which the Administrator
agrees may be withheld at the time the election is made, not to exceed the amount determined by using the maximum federal, state
or local marginal income tax rates applicable to the Participant with respect to the Award on the date that the amount of tax
to be withheld is to be determined. The Fair Market Value of the Shares to be withheld or delivered will be determined as of the
date that the taxes are required to be withheld.

 

    	 	9	 

    	 

    

 

15.
No Effect on Employment or Service. Neither the Plan nor any Award will confer upon a Participant any right with respect
to continuing the Participant’s relationship as a Service Provider with the Company, nor will they interfere in any way
with the Participant’s right or the Company’s right to terminate such relationship at any time, with or without cause,
to the extent permitted by Applicable Laws.

 

18.
Date of Grant. The date of grant of an Award will be, for all purposes, the date on which the Administrator makes the determination
granting such Award, or such other later date as is determined by the Administrator. Notice of the determination will be provided
to each Participant within a reasonable time after the date of such grant.

 

17.
Term of Plan. Subject to Section 22 hereof, the Plan will become effective upon its adoption by the Board (the “Effective
Date”). It will continue in effect for a term of ten (10) years unless terminated earlier under Section 19 hereof; provided,
however, that such expiration shall not affect Awards then outstanding, and the terms and conditions of this Plan shall continue
to apply to such Awards.

 

18.
Amendment and Termination of the Plan.

 

(a)
Amendment and Termination. The Administrator may at any time amend, alter, suspend or terminate the Plan.

 

(b)
Stockholder Approval. The Company will obtain stockholder approval of the Plan and any Plan amendment to the extent necessary
or desirable to comply with Applicable Laws.

 

(c)
Effect of Amendment or Termination. No amendment, alteration, suspension, or termination of the Plan will impair the rights
of any Participant, unless mutually agreed otherwise between the Participant and the Administrator, which agreement must be in
writing and signed by the Participant and the Company. Termination of the Plan will not affect the Administrator’s ability
to exercise the powers granted to it hereunder with respect to Awards granted under the Plan prior to the date of such termination.

 

19.
Conditions Upon Issuance of Shares.

 

(a)
Legal Compliance. Shares will not be issued pursuant to the exercise of an Award unless the exercise of such Award and
the issuance and delivery of such Shares will comply with Applicable Laws and will be further subject to the approval of counsel
for the Company with respect to such compliance.

 

(b)
Investment Representations. As a condition to the exercise of an Award, the Company may require the person exercising such
Award to represent and warrant at the time of any such exercise that the Shares are being purchased only for investment and without
any present intention to sell or distribute such Shares if, in the opinion of counsel for the Company, such a representation is
required.

 

(c)
Restrictive Legends. All Award Agreements and all securities of the Company issued pursuant thereto shall bear such legends
regarding restrictions on transfer and such other legends as the appropriate officer of the Company shall determine to be necessary
or advisable to comply with applicable securities and other laws.

 

20. Inability
to Obtain Authority. The inability of the Company to obtain authority from any regulatory body having jurisdiction,
which authority is deemed by the Company’s counsel to be necessary to the lawful issuance and sale of any Shares
hereunder, will relieve the Company of any liability in respect of the failure to issue or sell such Shares as to which such
requisite authority will not have been obtained.

 

21.
Stockholder Approval. The Plan will be subject to approval by the stockholders of the Company within twelve (12) months
after the date the Plan is adopted by the Board. Such stockholder approval will be obtained in the manner and to the degree required
under Applicable Laws, including without limitation Section 422 of the Code. In the event that stockholder approval is not obtained
within twelve (12) months after the date the Plan is adopted by the Board, all Incentive Stock Options granted hereunder shall
be void ab initio and of no effect. Notwithstanding any other provisions of the Plan, no Awards shall be exercisable until
the date of such stockholder approval.

 

22.
Notification of Election Under Section 83(b) of the Code. If any Service Provider shall, in connection with the acquisition
of Shares under the Plan, make the election permitted under Section 83(b) of the Code, such Service Provider shall notify the
Company of such election within ten (10) days of filing notice of the election with the Internal Revenue Service and provide the
Company with a copy thereof, in addition to any filing and a notification required pursuant to regulations issued under the authority
of Section 83(b) of the Code. A Service Provider shall not be permitted to make a Section 83(b) election with respect to an Award
of a Restricted Stock Unit.

 

    	 	10	 

    	 

    

 

23.
Notification Upon Disqualifying Disposition Under Section 421(b) of the Code. Each Service Provider shall notify the Company
of any disposition of Shares issued pursuant to the exercise of an Incentive Stock Option under the circumstances described in
Section 421(b) of the Code (relating to certain disqualifying dispositions), within ten (10) days of such disposition.

 

24.
409A Timing Rule for Specified Employees. If at the time of a Service Provider’s separation from service, such individual
is considered a “specified employee” within the meaning of Section 409A(a)(2)(B)(i) of the Code, and if any payment
that such Service Provider becomes entitled to under the Plan or any Award is deemed payable on account of such individual’s
separation from service, then no such payment shall be made prior to the date that is the earlier of (i) six months and one day
after the individual’s separation from service, or (ii) the individual’s death.

 

25.
Governing Law. The law of the State of Delaware shall govern all questions concerning the construction, validity and interpretation
of this Plan, without regard to such state’s conflict of laws rules, subject to the Company’s intention that the Plan
satisfy the requirements of jurisdictions outside of the United States of America with respect to Awards subject to such jurisdictions.

 

26.
Rules Particular to Specific Countries. Notwithstanding anything herein to the contrary, the terms and conditions of the
Plan may be adjusted with respect to a particular country by means of an addendum to the Plan in the form of an appendix (the
“Appendix”), and to the extent that the terms and conditions set forth in the Appendix conflict with any provisions
of the Plan, the provisions of the Appendix shall prevail. Terms and conditions set forth in the Appendix shall apply only to
Options and Shares issued to Optionees under the jurisdiction of the specific country that is subject of the Appendix and shall
not apply to Awards issued to any other Optionee.

 

[Remainder
of the page intentionally left blank]

 

Ratified
and approved by the Board on October 18, 2018.

 

    	 	11	 

    	 

    

 

SAVE
FOODS, INC.

APPENDIX
– ISRAEL

TO
THE 2018 EQUITY INCENTIVE PLAN

 

	1.	GENERAL

 

	 	(a)	This
    Israeli Appendix (the “Israeli Appendix”) to the Save Foods Inc. 2018 Equity Incentive Plan (as amended from time
    to time) (the “Plan” and the “Company”, respectively) shall apply only to participants who are residents
    of the State of Israel or those who are deemed to be residents of the State of Israel for the purpose of payment of tax (the
    “Israeli Optionees”). The grant of Options to an Israeli Optionee shall be subject to the fulfillment of the conditions
    set forth below and pursuant to and subject to the terms and conditions set forth in the Plan. Capitalized terms used and
    not otherwise defined herein shall have the respective meanings ascribed to them in the Plan.
	 	 	 
	 	(b)	This
    Israeli Appendix is to be read as a continuation of the Plan and only refers to Options granted to Israeli Optionees so that
    they comply with the requirements set by the Israeli law in general, and in particular with the provisions of Section 102
    (as defined below), and any regulations, rules, orders or procedures promulgated thereunder, as may be amended or replaced
    from time to time. For the avoidance of doubt, this Israeli Appendix does not add to nor modify the Plan in respect of Optionees
    who are non Israeli Optionees.
	 	 	 
	 	(c)	The
    Plan and this Israeli Appendix are complementary to each other and shall be deemed one document. In any case of contradiction,
    whether explicit or implied, between the provisions of this Israeli Appendix and the Plan, the provisions set out in this
    Israeli Appendix shall prevail with respect to Options granted to Israeli Optionees.

 

	2.	DEFINITIONS

 

The
following definitions shall be in effect under the Israeli Appendix:

 

	 	(a)	“Affiliate”
    means any “employing company” within the meaning of Section 102(a) of the Ordinance.
	 	 	 
	 	(b)	“Approved
    102 Option” means an Option granted pursuant to Section 102(b) of the Ordinance and held in trust by a Trustee for the
    benefit of the Optionee.
	 	 	 
	 	(c)	“Controlling
    Shareholder” means a “controlling shareholder” as defined in Section 32(9) of the Ordinance.
	 	 	 
	 	(d)	“Employee”
    means an Israeli Optionee who is employed by, or serving as a director or an Office Holder of, the Company or any other employee
    company [חברה מעבידה] as defined in Section 102(a) of the Ordinance;
    provided such employee, director or office holder is not a Controlling Shareholder.
	 	 	 
	 	(e)	“ITA”
    means the Israeli Tax Authorities.
	 	 	 
	 	(f)	“Non-Employee”
    means an Israeli Optionee that is not an Employee, including an Israeli Optionee that (i) serves as a consultant, adviser,
    or service provider, or (ii) is a Controlling Shareholder.
	 	 	 
	 	(g)	“Office
    Holder” means an “office holder” as defined under the Israeli Companies Law, 1999.
	 	 	 
	 	(h)	“102
    Capital Gain Option” means an Approved 102 Option elected and designated by the Company to qualify under the capital
    gain tax treatment in accordance with the provisions of Section 102(b)(2) of the Ordinance.
	 	 	 
	 	(i)	“102
    Option” means any Option granted pursuant to Section 102.
	 	 	 
	 	(j)	“102
    Ordinary Income Option” means an Approved 102 Option elected and designated by the Company to qualify under the ordinary
    income tax treatment in accordance with the provisions of Section 102(b)(1) of the Ordinance.
	 	 	 
	 	(k)	“Ordinance”
    means the Israeli Tax Ordinance (New Version), 1961.
	 	 	 
	 	(l)	“Section
    102” means Section 102 of the Ordinance and any regulations, rules, orders or procedures promulgated thereunder as now
    in effect or as hereafter amended.
	 	 	 
	 	(m)	“3(i)
    Option” means an Option granted pursuant to Section 3(i) of the Ordinance.
	 	 	 
	 	(n)	“Trustee”
    means any individual or entity appointed by the Company and approved by the ITA to serve as trustee of Approved 102 Options.
	 	 	 
	 	(o)	“Unapproved
    102 Option” means an Option granted pursuant to Section 102(c) of the Ordinance and not held in trust by a Trustee.

 

	3.	ISSUANCE
    OF OPTIONS; ELIGIBILITY

 

	 	(a)	The
    persons eligible for participation in the Plan under the Israeli Appendix shall include any Employees or Non-Employees of
    the Company or of any Affiliate; provided, however, that (i) Employees may only be granted 102 Options; and (ii) Non-Employees
    may only be granted 3(i) Options.

 

    	 	12	 

    	 

    

 

	 	(b)	The
    Company may designate Options granted to Employees as Approved 102 Options or Unapproved 102 Options.
	 	 	 
	 	(c)	The
    grant of Approved 102 Options shall be made under this Israeli Appendix and shall be conditioned upon the approval of this
    Israeli Appendix by the ITA.
	 	 	 
	 	(d)	Approved
    102 Options may either be classified as 102 Capital Gain Options (“CGOs”) or 102 Ordinary Income Options (“OIOs”).
	 	 	 
	 	(e)	No
    Approved 102 Options may be granted under this Israeli Appendix to any Employee, unless and until the Company elects to classify
    its Approved 102 Options as CGOs or OIOs and appropriately files notice of such election with the ITA (the “Election”).
    The Election shall become effective beginning the first date of grant of an Approved 102 Option under this Israeli Appendix
    and may not be changed until the end of the year following the year during which the Company first granted Approved 102 Options
    under such Election. The Election shall obligate the Company to grant only the type of Approved 102 Option it has elected,
    and shall apply to all Employees who were granted Approved 102 Options during the time the Election is in effect, all in accordance
    with the provisions of Section 102(g) of the Ordinance. For the avoidance of doubt, such Election shall not prevent the Company
    from granting Unapproved 102 Options and 3(i) Options simultaneously.
	 	 	 
	 	(f)	All
    Approved 102 Options must be held in trust by a Trustee, as described in Section ‎4 below.
	 	 	 
	 	(g)	The
    terms and conditions upon which Options shall be issued and exercised shall be as specified in the Option Agreement to be
    executed pursuant to the Plan and to this Israeli Appendix. Each Option Agreement shall state, inter alia, the type of Option
    granted thereunder (whether a CGO, OIO, Unapproved 102 Option or a 3(i) Option).

 

	4.	TRUSTEE

 

The
provisions of this Section shall apply with respect of Approved 102 Options:

 

	 	(a)	Approved
    102 Options, any shares issued upon exercise of such Approved 102 Options and other shares received subsequently following
    any realization of rights, including without limitation, bonus shares, shall be allocated or issued to the Trustee and held
    for the benefit of the Optionee.

 

	 	(b)	Approved
    102 Options and any shares received subsequently following exercise of 102 Options, shall be held by the Trustee for such
    period of time as required by Section 102 (the “Holding Period”).
	 	 	 
	 	(c)	The
    Optionee shall not be entitled to sell or release from trust the Approved 102 Options or shares issued upon their exercise,
    until the lapse of the Holding Period.
	 	 	 
	 	(d)	In
    the event the requirements of Section 102 are not met, the Optionee shall not be entitled to the tax treatment available for
    Approved 102 Options and the Approved 102 Options may be regarded as Unapproved 102 Options, all in accordance with the provisions
    of Section 102.
	 	 	 
	 	(e)	Notwithstanding
    anything to the contrary, the Trustee may hold the release of any Approved 102 Options or shares issued upon exercise of Approved
    102 Options, until the full payment of the Optionee’s tax liabilities arising in respect thereof.
	 	 	 
	 	(f)	As
    a condition for issuance of Approved 102 Options, the Israeli Optionee shall execute an undertaking, in form to be provided
    by the Company, acknowledging the terms of issuance under Section 102 and releasing the Trustee from any liability for actions
    or decisions made in good faith by the Trustee.

 

	5.	FAIR
    MARKET VALUE FOR TAX PURPOSES

 

Without
derogating from the definition of “Fair Market Value” included in the Plan, if at the date of grant the Company’s
shares are listed on any established stock exchange or a national market system or will be registered for trading within ninety
(90) days following the date of grant, then solely for the purpose of determining the tax liability of CGOs pursuant to Section
102(b)(3) of the Ordinance, the fair market value of the shares shall be determined in accordance with the average value of the
Company’s shares on the thirty (30) trading days preceding the date of grant or on the thirty (30) trading days following
the date of registration for trading, as the case may be.

 

	6.	EXERCISE
    OF OPTIONS

 

	 	(a)	Options
    shall be exercised by the Optionee in accordance with the terms of the Plan, but in any event, in accordance with the instructions
    of the Trustee and the requirements of Section 102.
	 	 	 
	 	(b)	If
    the Optionee ceases to be employed or engaged by the Company or any Affiliate, then at the request of the Company, the Optionee
    shall extend to the Company and/or its Subsidiaries a security or guarantee for the payment of tax due at the time of sale
    of shares, pursuant to the Company’s policies and in accordance with any applicable provisions of Section 102.

 

    	 	13	 

    	 

    

 

	7.	RESTRICTIONS
    ON ASSIGNABILITY AND SALE OF OPTIONS

 

Without
derogating from any restriction on assignability or transferability specified in the Plan, as long as Options issued under this
Israeli Addendum or Shares purchased upon exercise of such Options and/or any other securities issued with respect thereto, are
held by the Trustee for the benefit of an Israeli Optionee, such Israeli Optionee may not transfer, assign, pledge or mortgage
any rights with respect of the Options and/or the shares to which they are exercisable (as applicable), other than by will or
laws of descent and distribution. The terms of this Israeli Addendum and the Plan shall be binding on the executors, administrators,
heirs, and successors of Options. Notwithstanding the foregoing, if any such sale, assignment, pledge, mortgate or release occurs
during the Holding Period, the sanctions under Section 102 of the Ordinance shall apply to and shall be borne by the Israeli Optionee.

 

	8.	TAX
    CONSEQUENCES

 

	 	(a)	Without
    derogating from the Plan, the Trustee may withhold taxes according to requirements of applicable laws, rules and regulations,
    including withholding taxes at source, from any payment to the Optionee. Furthermore, the Israeli Optionee shall indemnify
    the Company, its Subsidiaries and the Trustee and hold them harmless from and against any and all liability for any such tax
    or interest or penalty thereon, including without limitation, liabilities relating to the necessity to withhold, or to have
    withheld, any such tax from any payment made to the Optionee.
	 	 	 
	 	(b)	The
    Company and the Trustee shall not be required to release any Options, shares, or share certificate to an Israeli Optionee
    until all required payments have been fully made and satisfactory evidence was provided to the Company and the Trustee.
	 	 	 
	 	(c)	Neither
    the Corporation and/or Subsidiary nor the Board shall have any liability to any Israeli Optionee, or to any other party, if
    an Option (or any portion thereof) that is intended to be qualified as Capital Gain Option is determined by the Board, ITA
    or the Trustee not to be qualified as Capital Gain Option.

 

	9.	GOVERNING
    LAW & JURISDICTION

 

This
Israeli Appendix shall be governed by, construed and enforced in accordance with the laws of the State of Israel, without giving
effect to the principles of conflict of laws.

 

*******

 

    	 	14

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