Document:

PROXY
      AND VOTING AGREEMENT 

    (English
      Translation)

    

    

    This 
      Proxy and Voting Agreement (the “Agreement”) is entered into as of August
      25, 2006 among the following partiesæ 

    

    Party
      A: 

    
      	
              Shiming
                (Xi’an) Enterprise Management Consulting Co., Ltd.

              Registered
                Address: 

              No.
                2, 12th
                Floor, 

              Gaoxin
                2nd
                Road, Shaanxi Security Plaza, 

              Xi’an
                High Tech and New Technology Development Zone, 

              Xi’an,
                Shaanxi Province, China 710075,

              Legal
                Representative: Shiming Wang

            

    

    

    Party
      B: The
      undersigned shareholders of Shiming Science & Technology Joint Stock Co.,
      Ltd., a corporation incorporated under the laws of the People’s Republic of
      China (“Shiming Company”).

    

    In
      this
      Agreement, Party A and Party B are called collectively the “Parties” and each of
      them is individually called a “Party.”

    

    WHEREAS:

    

    A.
       Party
      A
      is a company incorporated in Xi’an, China under the laws of the People’s
      Republic of China, which has the technological expertise in development and
      sales of consumer electronics. 

    

    B.
       As
      of the
      date of the Agreement Party B is comprised of holders of substantially all
      of
      the issued and outstanding shares of Shiming Company, and each member of Party
      B
      legally holds the equity interest in Shiming Company set forth opposite Party
      B’s name in Annex 1. The total shares held by Party B collectively are over 95%
      of total outstanding shares of Shiming Company. 

    

    C.
       Party
      B
      desires to grant to the Board of Directors of Party A a proxy to vote all of
      Party B’s shares in Shiming Company for the maximum period of time permitted by
      law in consideration of the issuance to Party B of shares of the Cayman Company
      and for other good and valuable consideration. 

    

    NOW
      THEREFORE, the Parties hereby have reached the following agreement upon friendly
      consultations:

     

    
      
        
        

      

      
        -1-

        
          

        

      

      
        
        

      

    

    
      	1.  	
              Party
                B hereby agrees to irrevocably entrust Party A for the maximum period
                permitted by law, with all of Party B’s voting rights as a shareholder of
                Shiming Company. Party A shall exercise such rights in accordance
                with the
                laws of the PRC and the Articles of Association of Shiming
                Company.

            

    

    

    
      	2.  	
              Party
                A may from time to time establish and amend rules to govern how Party
                A
                shall exercise the powers granted to it by Party B herein, including,
                but
                not limited to, the number or percentage of directors of Party A
                which
                shall be required to authorize or take any action and to sign documents
                evidencing the taking of such action, and Party A shall only take
                action
                in accordance with such rules.

            

    

    

    
      	3.  	
              All
                Parties to this Agreement hereby acknowledge that, regardless of
                any
                change in the equity interests of Shiming Company, Party B shall
                appoint
                the person designated by Party A with all shareholder’s voting rights.
                Party B shall not transfer its equity interests of Shiming Company
                to any
                individual or company (other than Party A or the individuals or entities
                designated by Party A). Party B acknowledges that it will continue
                to
                perform this Agreement even if one or more than one of them do not
                hold
                the equity interests of Shiming
                Company.

            

    

    

    
      	4.  	
              This
                Agreement has been duly executed by the Parties, and, in the case
                of a
                Party which is not a natural person, has been duly authorized by
                all
                necessary corporate or other action by such Party and executed and
                delivered by such Party’s duly authorized representatives, as of the date
                first set forth above and shall be effective
                simultaneously.

            

    

    

    
      	5.  	
              Party
                B represents and warrants to Party A that Party B owns all of the
                shares
                of Shiming Company set forth below its name in Annex 1 and on the
                signature pages below, free and clear of all liens and encumbrances
                and
                Party B has not granted to anyone, other than Party A, a power of
                attorney
                or proxy over any of such shares or in Party B’s rights as a shareholder
                of Shiming Company and the execution and delivery of this Agreement
                by
                Party B will not violate any law, regulations, judicial or administrative
                order, arbitration award, agreement, contract or covenant applicable
                to
                Party B.

            

    

    

    
      	6.  	
              This
                Agreement may not be terminated without the unanimous consent of
                both
                Parties, except that Party A may, by giving thirty (30) days prior
                written
                notice to Party B hereto, terminate this
                Agreement.

            

    

    

    
      	7.  	
              Any
                amendment and/or rescission shall be agreed by the Parties in
                writing.

            

    

    

    
      
        
        

      

      
        -2-

        
          

        

      

      
        
        

      

    

    
      	8.  	
              The
                execution, validity, construction and performance of this Agreement
                shall
                be governed by the laws of PRC.

            

    

    

    
      	9.  	
              This
                Agreement is executed in Chinese and English in twelve (12) copies;
                Party
                A and each member of Party B holds one and each original copy has
                the same
                legal effect. This Agreement has both an English version and a Chinese
                version. Both versions are equally authentic. Where a comparison
                of the
                authentic texts of both versions of this Agreement discloses a difference
                in meaning, the meaning which best reconciles the texts, having regard
                to
                the object and purpose of this Agreement shall be
                adopted.

            

    

    

    
      	10.  	
              Both
                Parties agree that in case of disputes arising from this Agreement,
                both
                Parties shall settle their dispute through mediation, not in a lawsuit
                brought in Court. If the Parties cannot reach a settlement 45 days
                after
                the mediation, the dispute shall be referred to and determined by
                arbitration in the China International Economic and Trade Arbitration
                Commission (“CIETAC”) upon the initiation of either Party in accordance
                with the prevailing arbitration rules of CIETAC. The written decision
                of
                the arbitrator shall be binding and conclusive on the Parties hereto
                and
                enforceable in any court of competent
                jurisdiction.

            

    

    

    

    
      	Party A: 	 	 
	 	Shiming (Xi’an) Enterprise
              Management Consulting Co., Ltd.
	 	 	 
	 	 	By:
              /s/ Shiming Wang  
	 	 	
              Shiming
                Wang

            
	 	 	
              Title:
                Chairman

            
	 	 	 
	Party B:	 	 
	 	 	Shaanxi Meixian Shiming Non-Ferrous
              Metallurgy Co., Ltd. (“Meixian”)
	 	 	Shares of Shiming Company owned by Meixian
              38000000
	 	 	 
	 	 	/s/ Shiming
              Wang                               
                 
	 	 	Chairman
	 	 	 
	 	 	 
	 	 	/s/ Shiming
              Wang                                   
              
	 	 	
              Shiming
                Wang (PRC ID Card No.: 610326570221061)

            
	 	 	
              Shares
                of Shiming Company owned by Shiming Wang:
                12900000

            

    

     

    
      
        
        

      

      
        -3-

        
          

        

      

      
        
        

      

    

     

    
      	 	 	/s/ Nairang
              Liu                                       
              
	 	 	
              Nairang
                Liu (PRC ID Card No.: 610326631127043)

            
	 	 	
              Shares
                of Shiming Company owned by Nairang Liu:
                3470000

            
	 	 	 
	 	 	 
	 	 	/s/ Liehua
              Wang                                    
              
	 	 	
              Liehua
                Wang (PRC ID Card No.: 610421541129002)

            
	 	 	
              Shares
                of Shiming Company owned by Liehua Wang:
                3408800

            
	 	 	 
	 	 	 
	 	 	/s/ Genyun
              Qu                                       
              
	 	 	
              Genyun
                Qu (PRC ID Card No.: 610421501011001)

            
	 	 	
              Shares
                of Shiming Company owned by Genyun Qu:
                2930000

            
	 	 	 
	 	 	/s/ Rui
              Wang                                          
              
	 	 	
              Rui
                Wang (PRC ID Card No.: 610326810124041)

            
	 	 	
              Shares
                of Shiming Company owned by Rui Wang:
                2720000

            
	 	 	 
	 	 	
            
	 	 	/s/ Ziyuan
              Lu                                        
              
	 	 	
              Ziyuan
                Lu (PRC ID Card No.: 610102621205358)

            
	 	 	
              Shares
                of Shiming Company owned by Ziyuan Lu:
                435000

            
	 	 	 
	 	 	 
	 	 	/s/ Yan
              Luo                                             
              
	 	 	
              Yan
                Luo (PRC ID Card No.: 51012619720106140X)

            
	 	 	
              Shares
                of Shiming Company owned by Yan Luo:
                435000

            
	 	 	 
	 	 	 
	 	 	/s/ Cunhu
              Yang                                     
              
	 	 	
              Cunhu
                Yang (PRC ID Card No.: 610104196210016177)

            
	 	 	
              Shares
                of Shiming Company owned by Cunhu Yang:
                362400

            
	 	 	 
	 	 	 
	 	 	/s/ Wanjun
              Shu                                      
              
	 	 	
              Wanjun
                Shu (PRC ID Card No.: 610124510805001)

            
	 	 	
              Shares
                of Shiming Company owned by Wanjun Shu:
                271800

            

    

     

    
      
        
        

      

      
        -4-

        
          

        

      

      
        
        

      

    

     

    
      	 	 	Attorney-in-fact for certain
              shareholders of Party B:
	 	 	Shiming (Xi’an) Enterprise Management &
              Consulting Co., Ltd.
	 	 	 
	 	 	 
	 	 	/s/ Shiming
              Wang                                  
              
	 	 	By: Shiming Wang
	 	 	As attorney-in-fact pursuant to that
              certain
              Power of Attorney, Shareholders’ Voting Rights, Proxy Agreement and
              Covenant Not to Sue dated January 15,
              2006

    

     

     

    
      
        
        

      

      
        -5-THE
      REGISTERED HOLDER OF THIS PURCHASE OPTION BY ITS ACCEPTANCE HEREOF, AGREES
      THAT
      IT WILL NOT SELL, TRANSFER OR ASSIGN THIS PURCHASE OPTION EXCEPT AS HEREIN
      PROVIDED AND THE REGISTERED HOLDER OF THIS PURCHASE OPTION AGREES THAT IT WILL
      NOT SELL, TRANSFER, ASSIGN, PLEDGE OR HYPOTHECATE THIS PURCHASE OPTION FOR
      A
      PERIOD OF ONE YEAR FOLLOWING THE EFFECTIVE DATE (DEFINED BELOW) TO ANYONE OTHER
      THAN (I) EARLYBIRDCAPITAL, INC. (“EBC”) OR AN UNDERWRITER OR A SELECTED DEALER
      IN CONNECTION WITH THE OFFERING, OR (II) A BONA FIDE OFFICER OR PARTNER OF
      EBC
      OR OF ANY SUCH UNDERWRITER OR SELECTED DEALER.

    

    THIS
      PURCHASE OPTION IS NOT EXERCISABLE PRIOR TO THE LATER OF THE CONSUMMATION BY
      ISRAEL TECHNOLOGY ACQUISITION CORP. (“COMPANY”) OF A MERGER, CAPITAL STOCK
      EXCHANGE, ASSET ACQUISITION OR OTHER SIMILAR BUSINESS COMBINATION (“BUSINESS
      COMBINATION”) (AS DESCRIBED MORE FULLY IN THE COMPANY’S REGISTRATION STATEMENT
      (DEFINED HEREIN)) OR JULY 12, 2006. VOID AFTER 5:00 P.M. EASTERN TIME, JULY
      11,
      2010.

    

    

    

    UNIT
      PURCHASE OPTION

    

    

    For
      the Purchase of 

    

    __________
      Units

    

    of

    

    ISRAEL
      TECHNOLOGY ACQUISITION CORP.

    

    

    1. Purchase
      Option.
      

    

    THIS
      CERTIFIES THAT, in consideration of $_________ duly paid by or on behalf of
      ________ (“Holder”), as registered owner of this Purchase Option, to Israel
      Technology Acquisition Corp. (“Company”), Holder is entitled, at any time or
      from time to time upon the later of the consummation of a Business Combination
      or July 12, 2006 (“Commencement Date”), and at or before 5:00 p.m., Eastern
      Time, July 11, 2010 (“Expiration Date”), but not thereafter, to subscribe for,
      purchase and receive, in whole or in part, up to ___________ (_________) units
      (“Units”) of the Company, each Unit consisting of one share of common stock of
      the Company, par value $.0001 per share (“Common Stock”), and two warrants
      (“Warrant(s)”) expiring four years from the effective date (“Effective Date”) of
      the registration statement (“Registra-tion Statement”) pursuant to which Units
      are offered for sale to the public (“Offering”). Each Warrant is the same as the
      warrants included in the Units being registered for sale to the public by way
      of
      the Registration Statement (“Public War-rants”) except that the Warrants have an
      exercise price of $6.65 per share. If the Expiration Date is a day on which
      banking institutions are authorized by law to close, then this Purchase Option
      may be exercised on the next succeeding day which is not such a day in
      accordance with the terms herein. During the period ending on the Expiration
      Date, the Company agrees not to take any action that would terminate the
      Purchase Option. This Purchase Option is initially exercisable at $7.50 per
      Unit
      so purchased; provided, however, that upon the occurrence of any of the events
      specified in Section 6 hereof, the rights granted by this Purchase Option,
      including the exercise price per Unit and the number of Units (and shares of
      Common Stock and Warrants) to be received upon such exercise, shall be adjusted
      as therein specified. The term “Exercise Price” shall
      mean
      the initial exercise price or the adjusted exercise price, depending on the
      context.

    
      
         

      

      
        1

        
          

        

      

      
         

      

    

    

    2. Exercise.

    

    2.1 Exercise
      Form.
      In
      order to exercise this Purchase Option, the exercise form attached hereto must
      be duly executed and completed and delivered to the Company, together with
      this
      Purchase Option and payment of the Exercise Price for the Units being purchased
      payable in cash or by certified check or official bank check. If the
      subscription rights represented hereby shall not be exercised at or before
      5:00
      p.m., Eastern time, on the Expiration Date this Purchase Option shall become
      and
      be void without further force or effect, and all rights represented hereby
      shall
      cease and expire.

    

    2.2 Legend.
      Each
      certificate for the securities purchased under this Purchase Option shall bear
      a
      legend as follows unless such securities have been registered under the
      Securities Act of 1933, as amended (“Act”):

    

    “The
      securities represented by this certificate have not been registered under the
      Securities Act of 1933, as amended (“Act”) or applicable state law. The
      securities may not be offered for sale, sold or otherwise transferred except
      pursuant to an effective registration statement under the Act, or pursuant
      to an
      exemption from registration under the Act and applicable state
      law.”

    

    2.3 Cashless
      Exercise.

    

    2.3.1 Determination
      of Amount.
      In
      lieu
      of the payment of the Exercise Price multiplied by the number of Units for
      which
      this Purchase Option is exercisable (and in lieu of being entitled to receive
      Common Stock and Warrants) in the manner required by Section 2.1, the
      Holder shall have the right (but not the obligation) to convert any exercisable
      but unexercised portion of this Purchase Option into Units (“Conversion Right”)
      as follows: upon exercise of the Conversion Right, the Company shall deliver
      to
      the Holder (without payment by the Holder of any of the Exercise Price in cash)
      that number of shares of Common Stock and Warrants comprising that number of
      Units equal to the quotient obtained by dividing (x) the “Value” (as defined
      below) of the portion of the Purchase Option being converted by (y) the Current
      Market Value (as defined below). The “Value” of the portion of the Purchase
      Option being converted shall equal the remainder derived from subtracting (a)
      (i) the Exercise Price multiplied by (ii) the number of Units underlying the
      portion of this Purchase Option being converted from (b) the Current Market
      Value of a Unit multiplied by the number of Units underlying the portion of
      the
      Purchase Option being converted. As used herein, the term “Current Market Value”
per Unit at any date means the remainder derived from subtracting (x) the
      exercise price of the Warrants multiplied by the number of shares of Common
      Stock issuable upon exercise of the Warrants underlying one Unit from (y) the
      Current Market Price of the Common Stock multiplied by the number of shares
      of
      Common Stock underlying the Warrants and the Common Stock issuable upon exercise
      of one Unit. The “Current Market Price” of a share of Common Stock shall mean
      (i) if the Common Stock is listed on a national securities exchange or quoted
      on
      the Nasdaq National Market, Nasdaq SmallCap Market or NASD OTC Bulletin Board
      (or successor such as the Bulletin Board Exchange), the last sale price of
      the
      Common Stock in the principal trading market for the Common Stock as reported
      by
      the exchange, Nasdaq or the NASD, as the case may be; (ii) if the Common Stock
      is not listed on a national securities exchange or quoted on the Nasdaq National
      Market, Nasdaq SmallCap Market or the NASD OTC Bulletin Board (or successor
      such
      as the Bulletin Board Exchange), but is traded in the residual over-the-counter
      market, the closing bid price for the Common Stock on the last trading day
      preceding the date in question for which such quotations are reported by the
      Pink Sheets, LLC or similar publisher of such quotations; and (iii) if the
      fair
      market value of the Common Stock cannot be determined pursuant to clause (i)
      or
      (ii) above, such price as the Board of Directors of the Company shall determine,
      in good faith.

    

      
        
           

        

        
          2

          
            

          

        

        
           

          
          

        

      

    2.3.2 Mechanics
      of Cashless Exercise.
      The
      Cashless Exercise Right may be exercised by the Holder on any business day
      on or
      after the Commencement Date and not later than the Expiration Date by delivering
      the Purchase Option with the duly executed exercise form attached hereto with
      the cashless exercise section completed to the Company, exercising the Cashless
      Exercise Right and specifying the total number of Units the Holder will purchase
      pursuant to such Cashless Exercise Right.

    

    2.4 No
      Obligation to Net Cash Settle.
      Notwithstanding anything to the contrary contained in this Purchase Option,
      if
      the
      Company is unable to deliver any securities pursuant to the exercise of this
      Purchase Option, the Purchase Option and underlying securities may expire
      unexercised or unredeemed if there is no effective registration statement
      covering the securities underlying the Purchase Option and the Company will
      have
      no obligation to pay such registered holder any cash or otherwise “net cash
      settle” the Purchase Option or the Warrants underlying the Purchase
      Option.

    

    3. Transfer.
      

    

    3.1 General
      Restrictions.
      The
      registered Holder of this Purchase Option, by its acceptance hereof, agrees
      that
      it will not sell, transfer, assign, pledge or hypothecate this Purchase Option
      for a period of one year following the Effective Date to anyone other than
      (i)
      EBC or an underwriter or a selected dealer in connection with the Offering,
      or
      (ii) a bona fide officer or partner of EBC or of any such underwriter or
      selected dealer. On and after the second anniversary of the Effective Date,
      transfers to others may be made subject to compliance with or exemptions from
      applicable securities laws. In order to make any permitted assignment, the
      Holder must deliver to the Company the assignment form attached hereto duly
      executed and completed, together with the Purchase Option and payment of all
      transfer taxes, if any, payable in connection therewith. The Company shall
      within five business days transfer this Purchase Option on the books of the
      Company and shall execute and deliver a new Purchase Option or Purchase Options
      of like tenor to the appropriate assignee(s) expressly evidencing the right
      to
      purchase the aggregate number of Units purchasable hereunder or such portion
      of
      such number as shall be contemplated by any such assignment.

    

    3.2 Restrictions
      Imposed by the Act.
      The
      securities evidenced by this Purchase Option shall not be transferred unless
      and
      until (i) the Company has received the opinion of counsel for the Holder that
      the securities may be transferred pursuant to an exemption from registration
      under the Act and applicable state securities laws, the availability of which
      is
      established to the reasonable satisfaction of the Company (the Company hereby
      agreeing that the opinion of Graubard Miller shall be deemed satisfactory
      evidence of the availability of an exemption), or (ii) a registration statement
      or a post-effective amendment to the Registration Statement relating to such
      securities has been filed by the Company and declared effective by the
      Securities and Exchange Commission and compliance with applicable state
      securities law has been established.

    
      
         

      

      
        3

        
          

        

      

      
         

      

    

    

    

    4. New
      Purchase Options to be Issued.

    

    4.1 Partial
      Exercise or Transfer.
      Subject
      to the restric-tions in Section 3 hereof, this Purchase Option may be exercised
      or assigned in whole or in part. In the event of the exercise or assignment
      hereof in part only, upon surrender of this Purchase Option for cancellation,
      together with the duly executed exercise or assignment form and funds sufficient
      to pay any Exercise Price and/or transfer tax, the Company shall cause to be
      delivered to the Holder without charge a new Purchase Option of like tenor
      to
      this Purchase Option in the name of the Holder evidencing the right of the
      Holder to purchase the number of Units purchasable hereunder as to which this
      Purchase Option has not been exercised or assigned.

    

    4.2 Lost
      Certificate.
      Upon
      receipt by the Company of evidence satisfactory to it of the loss, theft,
      destruction or mutilation of this Purchase Option and of reasonably satisfactory
      indemnification or the posting of a bond, the Company shall execute and deliver
      a new Purchase Option of like tenor and date. Any such new Purchase Option
      executed and delivered as a result of such loss, theft, mutilation or
      destruction shall constitute a substitute contractual obligation on the part
      of
      the Company.

    5. Registration
      Rights.
      

    

    5.1 Demand
      Registration.
      

    

    5.1.1 Grant
      of Right.
      The
      Company, upon written demand (“Initial Demand Notice”) of the Holder(s) of at
      least 51% of the Purchase Options and/or the underlying Units and/or the
      underlying securities (“Majority Holders”), agrees to register on one occasion,
      all or any portion of the Purchase Options requested by the Majority Holders
      in
      the Initial Demand Notice and all of the securities underlying such Purchase
      Options, including the Units, Common Stock, the Warrants and the Common Stock
      underlying the Warrants (collectively, the “Registrable Securities”). On such
      occasion, the Company will file a registration statement or a post-effective
      amendment to the Registration Statement covering the Registrable Securities
      within sixty days after receipt of the Initial Demand Notice and use its best
      efforts to have such registration statement or post-effective amendment declared
      effective as soon as possible thereafter. The demand for registration may be
      made at any time during a period of five years beginning on the Effective Date.
      The Company covenants and agrees to give written notice of its receipt of any
      Initial Demand Notice by any Holder(s) to all other registered Holders of the
      Purchase Options and/or the Registrable Securi-ties within ten days from the
      date of the receipt of any such Initial Demand Notice.

    

    5.1.2 Terms.
      The
      Company shall bear all fees and expenses attendant to registering the
      Registrable Securities, including the expenses of any legal counsel selected
      by
      the Holders to represent them in connection with the sale of the Registrable
      Securities, but the Holders shall pay any and all underwriting commissions.
      The
      Company agrees to use its reasonable best efforts to qualify or register the
      Registrable Securities in such States as are reasonably requested by the
      Majority 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 qualify to do
      business in such State, or would subject the Company to taxation as a foreign
      corporation doing business in such jurisdiction 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 state-ment or
      post-effective amendment filed pursuant to the demand rights granted under
      Section 5.1.1 to remain effective for a period of nine consecutive months from
      the effective date of such registration statement or post-effective
      amendment.

    
      
         

      

      
        4

        
          

        

      

      
         

      

    

    
 

    5.2 “Piggy-Back”
      Registration.
      

     

    5.2.1 Grant
      of Right.
      In
      addition to the demand right of registration, the Holders of the Purchase
      Options shall have the right for a period of seven years commencing on the
      Effective Date, 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 Act or pursuant
      to
      Form S-8); provided, however, that if, in the written opinion of the Company’s
      managing underwriter or underwriters, if any, for such offering, the inclusion
      of the Registrable Securities, when added to the securities being registered
      by
      the Company or the selling stockholder(s), will exceed the maximum amount of
      the
      Company’s securities which can be marketed (i) at a price reasonably
      related to their then current market value, and (ii) without materially and
      adversely affecting the entire offering, then the Company will still be required
      to include the Registrable Securities, but may require the Holders to agree,
      in
      writing, to delay the sale of all or any portion of the Registrable Securities
      for a period of 90 days from the effective date of the offering, provided,
      further, that if the sale of any Registrable Securities is so delayed, then
      the
      number of securities to be sold by all stockholders in such public offering
      during such 90 day period shall be apportioned pro rata
      among
      all such selling stockholders, including all holders of the Registrable
      Securities, according to the total amount of securities of the Company owned
      by
      said selling stockholders, including all holders of the Registrable
      Securities.

    

    5.2.2 Terms.
      The
      Company shall bear all fees and expenses attendant to registering the
      Registrable Securities, including the expenses of any legal counsel selected
      by
      the Holders to represent them in connection with the sale of the Registrable
      Securities but the Holders shall pay any and all underwriting commissions
      related to the Registrable Securities. In the event of such a proposed
      regis-tration, the Company shall furnish the then Holders of outstand-ing
      Registrable Securities with not less than fifteen days written notice prior
      to
      the proposed date of filing of such registration state-ment. Such notice to
      the
      Holders shall continue to be given for each applicable registration statement
      filed (during the period in which the Purchase Option is exercisable) by the
      Company until such time as all of the Registrable Securities have been
      registered and sold. The holders of the Registrable Securities shall exer-cise
      the “piggy-back” rights provided for herein by giving writ-ten notice, within
      ten days of the receipt of the Com-pany’s notice of its intention to file a
      registration state-ment. The Company shall cause any registration statement
      filed pursuant to the above “piggyback” rights to remain effective for at least
      nine months from the date that the Holders of the Registrable Securities are
      first given the opportunity to sell all of such securities.

    

    5.3 Intentionally
      Omitted.
      

    

    5.4 General
      Terms.
      

    

    5.4.1 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 Act or Section
      20(a) of the Securities Exchange Act of 1934, as amended (“Exchange Act”),
      against all loss, claim, damage, expense or liability (including all reasonable
      attorneys’ fees and other expenses reasonably incurred in investigating,
      prepar-ing or defending against litigation, commenced or threatened, or any
      claim whatsoever whether arising out of any action between the underwriter
      and
      the Company or between the underwriter and any third party or otherwise) to
      which any of them may become subject under the Act, the Exchange Act or
      other-wise, 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 under-writers contained in Section 5 of the Underwriting
      Agreement between the Company, EBC and the other underwriters named therein
      dated the Effective Date. 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, its officers and directors
      and each person, if any, who controls the Company within the meaning of Section
      15 of the 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, prepar-ing or defending against
      any claim whatsoever) to which they may become subject under the 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 of the Underwriting Agreement pursuant
      to
      which the underwriters have agreed to indemnify the Company.

    
      
         

      

      
        5

        
          

        

      

      
         

      

    

    5.4.2 Exercise
      of Purchase Options.
      Nothing
      contained in this Purchase Option shall be construed as requiring the Holder(s)
      to exercise their Purchase Options or Warrants underlying such Purchase Options
      prior to or after the initial filing of any registration statement or the
      effectiveness thereof.

    

    5.4.3 Documents
      Delivered to Holders.
      The
      Company shall furnish EBC, as representative of the Holders participating in
      any
      of the foregoing offerings, a signed counterpart, addressed to the participating
      Holders, of (i) an opinion of counsel to the Com-pany, dated the effective
      date
      of such registration statement (and, if such registration includes an
      underwritten public offer-ing, an opinion dated the date of the closing under
      any under-writing 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
      public accountants who have 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 accoun-tants’ 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 EBC, as representative
      of
      the Holders participating in the offering, the correspondence and memoranda
      described below and 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 EBC, as representative of the Holders, to do such investigation, upon
      reasonable advance notice, with respect to information contained in or omitted
      from the registration state-ment as it deems reasonably necessary to comply
      with
      applicable securities laws or rules of the National Association of Securi-ties
      Dealers, Inc. (“NASD”). Such investigation shall include access to books,
      records and properties and opportunities to discuss the business of the Company
      with its officers and inde-pendent auditors, all to such reasonable extent
      and
      at such reasonable times and as often as EBC, as representative of the Holders,
      shall reasonably request. The Company shall not be required to disclose any
      confidential information or other records to EBC, as representative of the
      Holders, or to any other person, until and unless such persons shall have
      entered into reasonable confidentiality agreements (in form and substance
      reasonably satisfactory to the Company), with the Company with respect
      thereto.

    
      
         

      

      
        6

        
          

        

      

      
         

      

    

    5.4.4 Underwriting
      Agreement.
      The
      Company shall enter into an underwriting agreement with the managing
      under-writer(s), if any, selected by any Holders whose Registrable Securities
      are being registered pursuant to this Section 5, which managing underwriter
      shall be reasonably acceptable 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 under-writers shall also be made to and for the benefit of
      such
      Holders. Such Holders shall not be required to make any repre-sentations or
      warranties to or agreements with the Company or the underwriters except as
      they
      may relate to such Holders and their intended methods of distribution. Such
      Holders, however, shall agree to such covenants and indemnification and
      contribution obligations for selling stockholders as are customarily contained
      in agreements of that type used by the managing underwriter. Further, such
      Holders shall execute appropriate custody agreements and otherwise cooperate
      fully in the preparation of the registration statement and other documents
      relating to any offering in which they include securities pursuant to this
      Section 5. Each Holder shall also furnish to the Company such information
      regarding itself, the Registrable Securities held by it, and the intended method
      of disposition of such securities as shall be reasonably required to effect
      the
      registration of the Registrable Securities.

    

    5.4.5 Rule
      144 Sale.
      Notwithstanding anything contained in this Section 5 to the contrary, the
      Company shall have no obligation pursuant to Sections 5.1 or 5.2 for the
      registration of Registrable Securities held by any Holder (i) where such
      Holder would then be entitled to sell under Rule 144 within any three-month
      period (or such other period prescribed under Rule 144 as may be provided
      by amendment thereof) all of the Registrable Securities then held by such
      Holder, and (ii) where the number of Registrable Securities held by such
      Holder is within the volume limitations under paragraph (e) of
      Rule 144 (calculated as if such Holder were an affiliate within the meaning
      of Rule 144).

    

    5.4.6 Supplemental
      Prospectus.
      Each
      Holder agrees, that upon receipt of any notice from the Company of the happening
      of any event as a result of which the prospectus included in the Registration
      Statement, as then in effect, includes an untrue statement of a material fact
      or
      omits to state a material fact required to be stated therein or necessary to
      make the statements therein not misleading in light of the circumstances then
      existing, such Holder will immediately discontinue disposition of Registrable
      Securities pursuant to the Registration Statement covering such Registrable
      Securities until such Holder’s receipt of the copies of a supplemental or
      amended prospectus, and, if so desired by the Company, such Holder shall deliver
      to the Company (at the expense of the Company) or destroy (and deliver to the
      Company a certificate of such destruction) all copies, other than permanent
      file
      copies then in such Holder’s possession, of the prospectus covering such
      Registrable Securities current at the time of receipt of such
      notice.

    

    6. Adjustments.

    

    6.1
      Adjustments
      to Exercise Price and Number of Securities.
      The
      Exercise Price and the number of Units underlying the Purchase Option shall
      be
      subject to adjustment from time to time as hereinafter set
      forth:

    
      
         

      

      
        7

        
          

        

      

      
         

      

    

    

    

    6.1.1 Stock
      Dividends - Split-Ups.
      If
      after the date hereof, and subject to the provisions of Section 6.4 below,
      the
      number of outstanding shares of Common Stock is increased by a stock dividend
      payable in shares of Common Stock or by a split-up of shares of Common Stock
      or
      other similar event, then, on the effective date thereof, the number of shares
      of Common Stock underlying each of the Units purchasable hereunder shall be
      increased in proportion to such increase in outstanding shares. In such case,
      the number of shares of Common Stock, and
      the
      exercise price applicable thereto, underlying
      the Warrants underlying each of the Units purchasable hereunder shall be
      adjusted in accordance with the terms of the Warrants. For example, if the
      Company declares a two-for-one stock dividend and at the time of such dividend
      this Purchase Option is for the purchase of one Unit at $6.60 per whole Unit
      (each Warrant underlying the Units is exercisable for $5.00 per share), upon
      effectiveness of the dividend, this Purchase Option will be adjusted to allow
      for the purchase of one Unit at $6.60 per Unit, each Unit entitling the holder
      to receive two shares of Common Stock and four Warrants (each Warrant
      exercisable for $2.50 per share).

    6.1.2 Aggregation
      of Shares.
      If
      after the date hereof, and subject to the provisions of Section 6.4, the number
      of outstanding shares of Common Stock is decreased by a consolidation,
      combination or reclassifi-cation of shares of Common Stock or other similar
      event, then, on the effective date thereof, the number of shares of Common
      Stock
      underlying each of the Units purchasable hereunder shall be decreased in
      proportion to such decrease in outstanding shares. In such case, the number
      of
      shares of Common Stock, and the exercise price applicable thereto, underlying
      the Warrants underlying each of the Units purchasable hereunder shall be
      adjusted in accordance with the terms of the Warrants. 

    

    6.1.3 Replacement
      of Securities upon Reorganization, etc.
      In case
      of any reclassification or reorganization of the outstanding shares of Common
      Stock other than a change covered by Section 6.1.1 or 6.1.2 hereof or that
      solely affects the par value of such shares of Common Stock, or in the case
      of
      any merger or consolidation of the Company with or into another corporation
      (other than a consolidation or merger in which the Company is the continuing
      corporation and that does not result in any reclassification or reorganization
      of the outstanding shares of Common Stock), or in the case of any sale or
      conveyance to another corporation or entity of the property of the Company
      as an
      entirety or substantially as an entirety in connection with which the Company
      is
      dissolved, the Holder of this Purchase Option shall have the right thereafter
      (until the expiration of the right of exercise of this Purchase Option) to
      receive upon the exercise hereof, for the same aggregate Exercise Price payable
      hereunder immediately prior to such event, the kind and amount of shares of
      stock or other securities or property (including cash) receivable upon such
      reclassification, reorganization, merger or consolidation, or upon a dissolution
      following any such sale or transfer, by a Holder of the number of shares of
      Common Stock of the Company obtainable upon exercise of this Purchase Option
      and
      the underlying Warrants immediately prior to such event; and if any
      reclassification also results in a change in shares of Common Stock covered
      by
      Section 6.1.1 or 6.1.2, then such adjustment shall be made pursuant to
      Sections 6.1.1, 6.1.2 and this Section 6.1.3. The provisions of this
      Section 6.1.3 shall similarly apply to successive reclassifications,
      reorganizations, mergers or consolidations, sales or other
      transfers.

    

    6.1.4 Changes
      in Form of Purchase Option.
      This
      form of Purchase Option need not be changed because of any change pursuant
      to
      this Section, and Purchase Options issued after such change may state the same
      Exercise Price and the same number of Units as are stated in the Purchase
      Options initially issued pursuant to this Agreement. The acceptance by any
      Holder of the issuance of new Purchase Options reflecting a required or
      permissive change shall not be deemed to waive any rights to an adjustment
      occurring after the Commencement Date or the computation thereof.

    

      
        
           

        

        
          8

          
            

          

        

        
           

        

      

     

    6.2 [Intentionally
      Omitted]

    6.3 Substitute
      Purchase Option.
      In case
      of any consolidation of the Company with, or merger of the Company with, or
      merger of the Company into, another corporation (other than a consolidation
      or
      merger which does not result in any reclassification or change of the
      outstanding Common Stock), the corporation formed by such consolidation or
      merger shall execute and deliver to the Holder a supplemental Purchase Option
      providing that the holder of each Purchase Option then outstanding or to be
      outstanding shall have the right thereafter (until the stated expiration of
      such
      Purchase Option) to receive, upon exercise of such Purchase Option, the kind
      and
      amount of shares of stock and other securities and prop-erty receivable upon
      such consolidation or merger, by a holder of the number of shares of Common
      Stock of the Company for which such Purchase Option might have been exercised
      immediately prior to such consolidation, merger, sale or transfer. Such
      supple-mental Purchase Option shall provide for adjustments which shall be
      identical to the adjustments provided in Section 6. The above provision of
      this
      Section shall similarly apply to succes-sive consolidations or
      mergers.

    

    6.4 Elimination
      of Fractional Interests.
      The
      Company shall not be required to issue certificates representing frac-tions
      of
      shares of Common Stock or Warrants upon the exercise of the Purchase Option,
      nor
      shall it be required to issue scrip or pay cash in lieu of any fractional
      interests, it being the intent of the parties that all fractional interests
      shall be eliminated by rounding any fraction up to the nearest whole number
      of
      Warrants, shares of Common Stock or other securities, properties or
      rights.

    

    7. Reservation
      and Listing.
      The
      Company shall at all times reserve and keep available out of its authorized
      shares of Common Stock, solely for the purpose of issuance upon exercise of
      the
      Purchase Options or the Warrants underlying the Purchase Option, such number
      of
      shares of Common Stock or other securities, properties or rights as shall be
      issuable upon the exercise thereof. The Com-pany covenants and agrees that,
      upon
      exercise of the Purchase Options and payment of the Exercise Price therefor,
      all
      shares of Common Stock and other securities issuable upon such exercise shall
      be
      duly and validly issued, fully paid and non-assessable and not subject to
      preemptive rights of any stockholder. The Company further covenants and agrees
      that upon exercise of the Warrants underlying the Purchase Options and payment
      of the respective Warrant exercise price therefor, all shares of Common Stock
      and other securities issuable upon such exercise shall be duly and validly
      issued, fully paid and non-assessable and not subject to preemptive rights
      of
      any stockholder. As long as the Purchase Options shall be outstanding, the
      Company shall use its best efforts to cause all (i) Units and shares of
      Common Stock issuable upon exercise of the Purchase Options, (iii) Warrants
      issuable upon exercise of the Purchase Options and (iv) shares of Common Stock
      issuable upon exercise of the Warrants included in the Units issuable upon
      exercise of the Purchase Option to be listed (subject to official notice of
      issuance) on all securities exchanges (or, if applicable on the Nasdaq National
      Market, SmallCap Market, OTC Bulletin Board or any successor trading market)
      on
      which the Units, the Common Stock or the Public Warrants issued to the public
      in
      connection herewith may then be listed and/or quoted.

    

    
      
         

      

      
        9

        
          

        

      

      
         

      

    

    8. Certain
      Notice Requirements.

    

    8.1 Holder’s
      Right to Receive Notice.
      Nothing
      herein shall be con-strued as conferring upon the Holders the right to vote
      or
      con-sent as a stockholder for the election of directors or any other matter,
      or
      as having any rights whatsoever as a stockholder of the Company. If, however,
      at
      any time prior to the expiration of the Purchase Options and their exercise,
      any
      of the events described in Section 8.2 shall occur, then, in one or more of
      said
      events, the Company shall give written notice of such event at least fifteen
      days prior to the date fixed as a record date or the date of closing the
      transfer books for the determination of the stockholders entitled to such
      dividend, distribution, conversion or exchange of securities or subscrip-tion
      rights, or entitled to vote on such proposed dissolution, liquidation, winding
      up or sale. Such notice shall specify such record date or the date of the
      closing of the transfer books, as the case may be. Notwithstanding the
      foregoing, the Company shall deliver to each Holder a copy of each notice given
      to the other stockholders of the Company at the same time and in the same manner
      that such notice is given to the stockholders.

    8.2 Events
      Requiring Notice.
      The
      Company shall be required to give the notice described in this Section 8 upon
      one or more of the following events: (i) if the Company shall take a record
      of
      the holders of its shares of Common Stock for the purpose of entitling them
      to
      receive a dividend or distribution payable otherwise than in cash, or a cash
      dividend or distribution pay-able otherwise than out of retained earnings,
      as
      indicated by the accounting treatment of such dividend or distribution on the
      books of the Company, or (ii) the Company shall offer to all the holders of
      its
      Common Stock any additional shares of capital stock of the Company or securities
      convertible into or exchange-able for shares of capital stock of the Company,
      or
      any option, right or warrant to subscribe therefor, or (iii) a dissolution,
      liquidation or winding up of the Company (other than in connec-tion with a
      consolidation or merger) or a sale of all or substan-tially all of its property,
      assets and business shall be proposed.

    

    8.3 Notice
      of Change in Exercise Price.
      The
      Company shall, promptly after an event requiring a change in the Exercise Price
      pursuant to Section 6 hereof, send notice to the Holders of such event and
      change (“Price Notice”). The Price Notice shall describe the event causing the
      change and the method of calculating same and shall be certified as being true
      and accurate by the Company’s President and Chief Financial
      Officer.

    

    8.4 Transmittal
      of Notices.
      All
      notices, requests, consents and other communi-cations under this Purchase Option
      shall be in writing and shall be deemed to have been duly made when hand
      delivered, or mailed by express mail or pri-vate courier service: (i) If to
      the
      registered Holder of the Purchase Option, to the address of such Holder as
      shown
      on the books of the Company, or (ii) if to the Company, to the following address
      or to such other address as the Company may designate by notice to the Holders:
       

    

    
      	 	
              Israel
                Technology Acquisition Corp.

              7
                Gush Etzion, 3rd
                Floor

              Givaat
                Shmuel, Israel 54030

              Attn: Chairman

            	 

    

    

      
        
           

        

        
          10

          
            

          

        

        
           

        

      

    

    9. Miscellaneous.

    

    9.1 Amendments.
      The
      Company and EBC may from time to time supplement or amend this Purchase Option
      without the approval of any of the Holders in order to cure any ambiguity,
      to
      correct or supplement any provision contained herein that may be defective
      or
      inconsistent with any other provisions herein, or to make any other provisions
      in regard to matters or questions arising hereunder that the Company and EBC
      may
      deem necessary or desirable and that the Company and EBC deem shall not
      adversely affect the interest of the Holders. All other modifications or
      amendments shall require the written con-sent of and be signed by the party
      against whom enforcement of the modification or amendment is
      sought.

    

    9.2 Headings.
      The
      headings contained herein are for the sole purpose of convenience of reference,
      and shall not in any way limit or affect the meaning or interpretation of any
      of
      the terms or provisions of this Purchase Option.

    

    10. Entire
      Agreement.
      This
      Purchase Option (together with the other agreements and documents being
      delivered pursuant to or in connection with this Purchase Option) constitutes
      the entire agreement of the parties hereto with respect to the subject matter
      hereof, and supersedes all prior agreements and under-standings of the parties,
      oral and written, with respect to the subject matter hereof.

    10.1 Binding
      Effect.
      This
      Purchase Option shall inure solely to the benefit of and shall be binding upon,
      the Holder and the Company and their permitted assignees, respective
      succes-sors, legal representative and assigns, and no other person shall have
      or
      be construed to have any legal or equitable right, remedy or claim under or
      in
      respect of or by virtue of this Purchase Option or any provisions herein
      contained.

    

    10.2 Governing
      Law; Submission to Jurisdiction.
      This
      Purchase Option shall be governed by and construed and enforced in accor-dance
      with the laws of the State of New York, without giving effect to conflict of
      laws. The Company hereby agrees that any action, proceeding or claim against
      it
      arising out of, or relating in any way to this Purchase Option shall be brought
      and enforced in the courts of the State of New York or of the United States
      of
      America for the Southern District of New York, and irrevocably submits to such
      jurisdiction, which jurisdiction shall be exclu-sive. The Company hereby waives
      any objection to such exclusive jurisdiction and that such courts represent
      an
      inconvenient forum. Any process or summons to be served upon the Company may
      be
      served by transmitting a copy thereof by registered or certified mail, return
      receipt requested, postage prepaid, addressed to it at the address set forth
      in
      Section 8 hereof. Such mailing shall be deemed personal service and shall be
      legal and binding upon the Company in any action, proceeding or claim. The
      Company and the Holder agree that the pre-vailing party(ies) in any such action
      shall be entitled to recover from the other party(ies) all of its reasonable
      attor-neys’ fees and expenses relating to such action or proceeding and/or
      incurred in connection with the preparation therefor. 

    

    10.3 Waiver,
      Etc.
      The
      failure of the Company or the Holder to at any time enforce any of the
      provisions of this Purchase Option shall not be deemed or construed to be a
      waiver of any such provision, nor to in any way affect the validity of this
      Purchase Option or any provision hereof or the right of the Company or any
      Holder to thereafter enforce each and every provision of this Purchase Option.
      No waiver of any breach, non-compliance or non-fulfillment of any of the
      provisions of this Purchase Option shall be effective unless set forth in a
      written instrument executed by the party or parties against whom or which
      enforcement of such waiver is sought; and no waiver of any such breach,
      non-compliance or non-fulfillment shall be construed or deemed to be a waiver
      of
      any other or subsequent breach, non-compliance or non-fulfillment.

    

    
      
         

      

      
        11

        
          

        

      

      
         

      

    

    10.4 Execution
      in Counterparts.
      This
      Purchase Option may be executed in one or more counterparts, and by the
      different parties hereto in separate counterparts, each of which shall be deemed
      to be an original, but all of which taken together shall constitute one and
      the
      same agreement, and shall become effective when one or more counterparts has
      been signed by each of the parties hereto and delivered to each of the other
      parties hereto.

    

    10.5 Exchange
      Agreement.
      As a
      condition of the Holder’s receipt and acceptance of this Purchase Option, Holder
      agrees that, at any time prior to the complete exercise of this Purchase Option
      by Holder, if the Company and EBC enter into an agreement (“Exchange Agreement”)
      pursuant to which they agree that all outstanding Purchase Options will be
      exchanged for securities or cash or a combination of both, then Holder shall
      agree to such exchange and become a party to the Exchange
      Agreement.

    

    10.6
       Underlying
      Warrants.
      At any
      time after exercise by the Holder of this Purchase Option, the Holder may
      exchange his Warrants (with a $6.65 exercise price) for Public Warrants (with
      a
      $5.00 exercise price) upon payment to the Company of the difference between
      the
      exercise price of his Warrant and the exercise price of the Public
      Warrants.

    

    

    
      
         

      

      
        12

        
          

        

      

      
         

        
        

      

    

    IN
      WITNESS WHEREOF, the Company has caused this Pur-chase Option to be signed
      by
      its duly authorized officer as of the ____ day of November, 2006.

    

    

    
      	 	
              ISRAEL
                TECHNOLOGY ACQUISITION CORP.

            
	 	 	 
	 	 	 
	 	
              By

            	
              :_________________________________

            
	 	 	
              Name:

            
	 	 	
              Title:

            

    

    

    
      
         

      

      
        13

        
          

        

      

      
         

        
        

      

    

    Form
      to
      be used to exercise Purchase Option:

    

    Israel
      Technology Acquisition Corp.

    7
      Gush
      Etzion, 3rd
      Floor

    Givaat
      Shmuel, Israel 54030

    

    Date:_________________,
      200__

    

    The
      undersigned hereby elects irrevocably to exercise all or a portion of the within
      Purchase Option and to purchase ____ Units of Israel Technology Acquisition
      Corp. and hereby makes payment of $____________ (at the rate of $_________
      per
      Unit) in payment of the Exercise Price pursuant thereto. Please issue the Common
      Stock and Warrants as to which this Purchase Option is exercised in accordance
      with the instructions given below.

    

    or

    

    The
      undersigned hereby elects irrevocably to convert its right to purchase _________
      Units purchasable under the within Purchase Option by surrender of the
      unexercised portion of the attached Purchase Option (with a “Value” based of
      $_______ based on a “Market Price” of $_______). Please issue the securities
      comprising the Units as to which this Purchase Option is exercised in accordance
      with the instructions given below.

    

    
      	 	
              ______________________________

            
	 	
              Signature

            
	 	 
	 	
              ______________________________

            
	 	
              Signature
                Guaranteed

            

    

    

    

    

    INSTRUCTIONS
      FOR REGISTRATION OF SECURITIES

    

    

    Name_____________________________________________________________

    (Print
      in
      Block Letters)

    

    Address__________________________________________________________

    

    

    NOTICE:
      The signature to this form must correspond with the name as written upon the
      face of the within Purchase Option in every particular without alter-ation
      or
      enlargement or any change whatsoever, and must be guar-anteed by a bank, other
      than a savings bank, or by a trust company or by a firm having membership on
      a
      registered national securities exchange.

    

    
      
         

      

      
        14

        
          

        

      

      
         

        
        

      

    

    Form
      to
      be used to assign Purchase Option:

    

    

    ASSIGNMENT

    

    

    (To
      be
      executed by the registered Holder to effect a transfer of the within Purchase
      Option):

    

    FOR
      VALUE
      RECEIVED,______________________________________________

    does
      hereby sell, assign and transfer
      unto___________________________________________

    the
      right
      to purchase __________ Units of Israel Technology Acquisition Corp. (“Company”)
      evidenced by the within Purchase Option and does hereby authorize the Company
      to
      transfer such right on the books of the Company.

    

    Dated:___________________,
      200_

    

    

    
      	 	
              ______________________________

            
	 	
              Signature

            
	 	 
	 	 
	 	
              ______________________________

            
	 	
              Signature
                Guaranteed

            

    

    

    

    

    NOTICE:
      The signature to this form must correspond with the name as written upon the
      face of the within Purchase Option in every particular without alter-ation
      or
      enlargement or any change whatsoever, and must be guar-anteed by a bank, other
      than a savings bank, or by a trust company or by a firm having membership on
      a
      registered national securities exchange.

    

    

    

    
      
         

      

      
        15

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