Document:

Exhibit 10.10

 

EMPLOYMENT AGREEMENT

 

This employment agreement (the “Agreement”)
dated as of January 9, 2014, effective as of January 5,2014 (the “Effective Date”), by and between XTL Biopharmaceuticals
Ltd., an Israeli company with its principal offices in 85 Medinat Hayehudim, Herzliya, Israel, (the "Company"),
and Mr. David Kestenbaum I.D. Number: 314385162, an individual whose address is 7 Haerez St. Raanana 43232 Israel (the "Employee").

 

WITNESSETH:

 

WHEREAS, the Company
desires to employ Employee as its Chief Financial Officer (the “Position”), and Employee desires to be employed
by the Company in such capacity, on the terms and conditions set forth below:

 

NOW, THEREFORE, in
consideration of the foregoing and the mutual promises and covenants herein contained, the parties hereto agree as follows:

 

It is hereby agreed by and between the
parties as follows:

 

		1.	Preamble

 

The preamble to this Agreement
and any attachments thereto are an integral part of this Agreement.

 

		2.	Job Description

 

The Company hereby employs Employee,
and Employee hereby accepts employment, to serve in a position of Chief Financial Officer. At a time to be determined by the Chief
Executive Officer and at the discretion of the Chief Executive Officer, the Employee shall be responsible for the financial and
accounting management of the Company. He shall report directly to the Chief Executive Officer. The description of responsibilities
set forth herein shall serve as a general statement of the duties, responsibilities and authority of the Employee. Additional duties,
responsibilities and authority may be assigned to the Employee by the Chief Executive Officer, from time to time in his discretion.

 

		3.	Working Hours

 

The Employee
shall be employed by the Company on a full-time basis, namely for not less than forty-four (44) hours per week (inclusive of meal
time). The Employee agrees that his position is considered to be a management position as defined in the Hours of Work and Rest
Law – 1951, which requires a special measure of personal trust. Accordingly, the provisions of the Hours of Work and Rest
Law – 1951 shall not apply and the Employee shall not be entitled to receive any additional payment for his work other than
those that are set forth in this Agreement.

 

     

     

    

 

		4.	Term of Agreement

 

This Agreement
shall take effect from the Effective Date and shall remain in effect through the third (3) anniversary of such date, unless it
is earlier terminated as hereinafter provided. Notwithstanding to the contrary, unless either party had provided a 60 day prior
written notice to the other party, regarding his wish not to extend the engagement according to this Agreement, this Agreement
shall be renewed automatically for an additional period of 12 months.

 

		5.	Compensation

 

5.1
Annual Salary

 

The Annual
gross salary of the Employee shall be NIS 396,000 (the "Annual Salary").the Annual Salary shall be paid to the
Employee in monthly installments of NIS 33,000 per month until the 10th day in each consecutive month.

 

The Employee
shall not be entitled to receive from the Company any salary or payment of any kind other than the Annual Salary and other payments
specifically set forth in this Agreement or properly authorized by the Board of Directors.

 

5.2
Other Terms of Employment

 

		5.2.1	Expenses: The Employee shall be entitled, in accordance with the Company’s standard
policy in effect from time to time, to be reimbursed for expenses (Hotza’ot Eshel) incurred in Israel and abroad in connection
with Company business against receipt by the Company of appropriate vouchers, receipts or other proof of the Employee’s expenditures.

 

		5.2.2	Continuing Education Fund: The Employee shall be entitled to participate in the Company’s
continuing education fund (Keren Hishtalmut). The Company shall contribute an amount equal to seven and a half percent (7.5%) of
the Employee’s Annual Salary and shall deduct two and a half percent (2.5%) of the Employee’s Annual Salary and transfer
it as the Employee’s contribution. The Employee consents to the deduction of this amount as his contribution to the continuing
education fund. Without derogating from the above said, the parties agree that for the first three (3) months of employment, the
said contributions will be calculated and contributed by each party up to the permissible tax-exempt salary ceiling according to
the income tax regulations in effect from time to time. Thereafter, the permissible tax-exempt salary ceiling shall have no effect
and the contribution of each party shall be made from the full Annual Salary, on a monthly basis.

 

     

     

    

 

		5.2.3	Reserve Duty: The Employee shall be entitled to receive his full Annual Salary and other
payments while performing reserve duty, provided that any amount received by the Employee from the I.D.F. or any other source (excluding
Damei Calcala) is transferred to the Company or, in the alternative, an amount equal to that received from the I.D.F. or any other
source is deducted from the Annual Salary payable to the Employee.

 

		5.2.4	Annual Leave and Damei Havra’a: The Employee shall be entitled to twenty two (22)
working days of paid annual leave each year. The Employee shall not be allowed to accrue more than twenty two (22) working days
of annual leave except in unusual circumstances and with the permission of the Company. Any accrued and unused vacation days can
be redeemed by the Employee in accordance with the provisions of the Annual Leave Law – 1951. In addition, the Employee shall
be entitled to paid leave on the major national and religious holidays celebrated in Israel, and in accordance with the normal
practice of the Company in effect from time to time. The Company shall also pay the Employee an amount equivalent to five (5) days
of damei havra’a each year in accordance with the law and the normal practice of the Company in effect from time to time.

 

		5.2.5	Sickness and Disability Insurance: The Employee shall be entitled to the number of days
for sick leave permitted by law. Compensation for sick days utilized shall be paid according to his Annual Salary only upon the
presentation of medical documentation as required by the Company. As detailed under Section 5.2.6 below, the Employee shall be
covered by disability insurance that provides monthly compensation. Notwithstanding the foregoing, the Employee shall not be entitled
to receive compensation for sick leave if such compensation is covered by the Employee’s disability insurance referred to
above. However, should the amounts received by the Employee pursuant to such disability insurance be less than the amount that
is properly payable as compensation for the Employee’s available sick leave, according to the Annual Salary, the Company
shall pay the difference. It is understood and agreed that unused sick leave cannot be redeemed by the Employee. For the avoidance
of doubt, it is understood and agreed that the payments made by the Company in consideration of sick leave covers all obligations
of the Company pursuant to the Sick Leave Law – 1976.

 

     

     

    

 

		5.2.6	Pension Benefits and Severance Payments

 

Managers
Insurance. Within ten days after the end of each month during the employment of Employee hereunder (or such other day as is
consistent with the Company’s general practices), the Company shall pay an aggregate amount equal to 13-1/3% of the Employee’s
monthly installment of the Annual Salary for the preceding month to a Managers Insurance (Bituach Manahalim) policy (the “Policy”)
and/or a comprehensive pension plan (the “Pension Plan”) through an agency and with an insurance company
or a pension fund, to be selected by the Employee, to be divided as follows: 8-1/3% towards Severance (the “Company’s
Severance Contribution”); 6% toward provident (compensation). In addition to the 13-1/3% mentioned above, at the beginning
of each month the Company shall deduct from the monthly installment of the Annual Salary of Employee an amount equal to 5.5% of
the Employee’s monthly installment of the Annual Salary for the preceding month, and shall pay such amount as premium payable
in respect of the provident compensation component of Policy. In addition the Company shall also pay up to 2.5% of the Employee’s
monthly installment of the Annual Salary towards loss of (working capacity) disability insurance (depending on the cost to the
Company necessary to provide coverage). In the event the Employee elects to be insured under a Pension Plan, the allocations shall
be modified in accordance with the Pension Plans policies, provided, in any event they do not exceed the amounts set forth above.

 

		(a)	Section 14 of the Severance Compensation Law – 1963.

 

		(i)	It is hereby agreed that upon termination of employment under this Agreement, the Company shall
release to the Employee all amounts accrued in the Managers Insurance on account of both the Company’s and Employee’s
contributions. It is hereby clearly agreed and understood that the amounts accrued in the Managers Insurance on account the Company’s
contribution [i.e. 13.33% of each monthly installment of the Annual Salary payment] shall be in lieu and in full and final substation
of any severance pay the Employee shall be or become entitled to under any applicable Israeli law.

 

		(ii)	The Company hereby waives in advance any right to any amounts accrued in the Managers Insurance,
unless the Employee is either not entitled to Severance Pay according to Section 17 of the Severance Compensation Act, 1963, or
has withdrawn amounts from the Managers Insurance not due or as a result of an “Entitling Event”, as such term
is defined in the General Approval of the Labor Minister, dated June 30, 1998, issued in accordance to the said Section 14 (the
“General Approval”).

 

		(iii)	Sub-Sections (i) and (ii) are in accordance with Section 14 of the Severance Compensation Act,
1963 and the General Approval, a copy of which is attached hereby to this Schedule A as Exhibit A.

 

     

     

    

 

		5.2.7	Company Automobile.

 

The Company
will provide a leased, Group 4 (or equally priced), automobile to the Employee, and will place such automobile at the disposal
of the Employee under the terms of the Company’s general leasing plan (to be provided to the Employee upon provision of the
automobile), for as long as a leased car policy is in place. The Company will bear all expenses of the automobile, including gasoline,
but excluding any traffic or parking fines resulting from the use of such automobile. Should Employee choose not to take a leased
automobile from the Company, or to take a leased an automobile of Group lower than Group 4, the Company will pay the difference
in Employer cost to Employee on a monthly basis. All tax consequences resulting from the use of such automobile by the Employee
shall be borne by the Employee and shall be his sole and exclusive responsibility.

 

		5.2.8	Cellular Phone

 

The Company shall
provide and maintain for the Employee a cellular telephone for as long as the Employee is employed by the Company. It is agreed
that the Employee may transfer his own current cellular phone number to the Company. Upon cessation of the Employee’s employment
with the Company for whatever reason, the Company agrees to return to the Employee his cellular phone number. The costs o such
transfer of the cellular phone number to the company and back to the Employee shall be borne by the Company. All tax consequences
resulting from the use of the cellular by the Employee shall be borne by him and shall be his sole and exclusive responsibility

 

		5.2.9	Bonus

 

		5.2.9.1	Upon the successful completion of fund raising of at least US$ 3 million in a public offering or
private placement of equity securities, including securities convertible or exercisable into equity by the Company within a period
of three (3) years as of the Effective Date (the "Fund Raising") and, as long as the Employee is employed by the
Company in the Position, the Employee shall be granted with a one-time bonus payment equal to 0.6% of the funds raised, and up
to maximum aggregate payment of US$120,000 per year (the ''Fundraising Bonus'').

 

		5.2.9.2	Upon the successful completion of a Transaction, as defined below and, as long as the Employee
is employed by the Company in the Position, the Employee shall be granted with a one-time payment equal to 0.5% of the transaction
amount actually received by the Company in such Transaction, whether as upfront payments, milestone payments or payments of any
other form, and up to maximum aggregate payment of US$100,000 per year (the ''Transaction Bonus'').

 

For the purpose
of this section the term ''Transaction'' shall have the following meaning: Transaction made by the Company or any of its fully
owned subsidiaries or any entity in its control (>50%) receives payment in connection with any collaboration or other transaction
relating to their respective products or technologies, excluding payments made to finance specific research and development activity
and royalty payments

 

     

     

    

 

		5.2.9.3	Upon the successful completion of a research and development funding in the Company (the “R&D
Funding”), Employee shall be granted a one-time bonus payment equal to 0.4% of the R&D Funding amount, and up to
a maximum aggregate payment of US$75,000 per year (the ''R&D Bonus'').

 

Without derogating
from the above said, the parties agree that the bonuses payments above will be valid for as long as the Employee is employed by
the Company in the Position and in any event the total aggregate bonus amount that will be paid to the Employee according to section
5 shall not exceed US$150,000 per year.

 

		5.2.10	Grant of Stock/Share Options

 

Subject to the approval of the
board of directors of the Company (the “Board”), the Employee shall be issued 750,000 options to purchase 750,000
ordinary shares of the Company of nominal value of NIS 0.1 each, available through the Company’s ESOP (as defined below)
(the “Options”), at an exercise price of NIS 0.5328 per share subject to any dilution and subject to the following
conditions:

 

(1)        The
Option shall vest and become exercisable on a quarterly basis, over a period of 3 years thereafter for as long as Employee's employment
with the Company has not terminated.

 

(2)        The
Options shall be granted in accordance with an Option Agreement to be signed between the Employee and the Company and shall be
at all times subject to (i) all the terms of the Company's Share Option Plan (“ESOP”), (ii) any terms and conditions
as shall be determined and altered from time to time by the Board or any of its committees at their sole discretion, and (iii)
any terms and conditions as provided in any agreement or arrangement the Company may enter from time to time including agreements
and arrangements with Investment Banks or Underwriters.

 

(3)        Any
tax liability in connection with the Options (including with respect to the grant, exercise, sell of the Option or the share receivable
upon their exercise) shall be borne solely by the Employee.

 

(4)        The
Company's Board's approval.

 

		6.	Termination of Employment
	 	 	 

		6.1	Either party may terminate the Employee’s employment with the Company without cause at any
time upon sixty (60) day’s prior written notice. The Company shall have the right, in its sole discretion, to require the
Employee to continue working for the Company during the notice period.

 

     

     

    

 

		6.2	The Employee’s employment shall be terminated by his death or disability. (For purposes of
this section, “disability” shall be deemed to have occurred if the Employee is unable, due to any physical or mental
disease or condition, to perform his normal duties of employment for 120 consecutive days or 180 days in any twelve month period.).
In such an event, he shall be entitled to continue to receive his annual salary for three (3) months following his last day of
actual employment by the Company. Such amount shall be in addition to any severance payment he is entitled to receive according
the provisions of the Severance Compensation Law - 1963. In addition, in such events, the Board of Directors shall take the necessary
steps so that (a) any outstanding, but unvested, options granted to the Employee shall vest upon the effective date of his termination;
and (b) the period during which the Employee shall be permitted to exercise such options shall be extended to two (2) years from
the effective date of his termination as defined in the Share Option Plan governing the options in question. Should the Employee’s
employment be terminated as a result of his death, the benefits granted herein, shall be granted instead to his lawful heir or
heirs.

 

		7.	Taxes and Other Payments

 

		7.1	Unless otherwise specifically provided for in this Agreement, the Company shall not be liable for
the payment of taxes or other payments for which the Employee is responsible as result of this Agreement or any other legal provision,
and the Employee shall be personally liable for such taxes and other payments.

 

		7.2	The Employee hereby agrees that the Company shall deduct from his Annual Salary the Employee’s
national insurance fees, income tax and other amounts required by law or the terms of this Agreement. The Company shall provide
the Employee with documentation of such deductions.

 

		8.	The Obligations of the Employee 

 

		8.1	The Employee agrees to devote his entire business time, energy, abilities and experience to the
performance of his duties, effectively and in good faith.

 

		8.2	During the period of his employment, the Employee shall not be employed, whether or not during
regular business hours, for pay by any other party other than the Company, without the prior permission of the Company.

 

		8.3	The Employee agrees to immediately inform the Company of any Company issue or transaction in which
the Employee has a direct or indirect personal interest and/or where such issue or transaction could cause a conflict of interest
for the Employee in the fulfillment of his responsibilities as an employee of the Company.

 

		8.4	The Employee hereby gives irrevocable instructions and permission to the Company to deduct from
any amounts owed to the Employee by the Company, including amounts payable as severance compensation, (a) any debt he has or will
have to the Company; and/or (b) any amount that was wrongfully or mistakenly paid to him by the Company. Any such amounts to be
deducted shall be calculated in real terms as of the date of the deduction, including linkage to cost of living index.

 

     

     

    

 

		8.5	The Employee declares that the terms and conditions of his employment are personal and confidential
and will not be disclosed by him.

 

		8.6	The Employee declares that he is free to enter into this Agreement and that he has no obligations
of any kind to any third party that would impair this Agreement, either as an employee or an independent contractor. The Employee
further declares that as long as he remains an employee of the Company, he will not incur any such obligations.

 

		8.7	The Employee agrees to keep confidential (a) all professional, scientific, commercial, and business
information; and (b) any other information or document that comes to the Employee’s knowledge in connection with the affairs
of the Company (collectively, the “Confidential Information”), and agrees not to use or exploit the Confidential Information
or to disclose it to any third party where such use, exploitation or disclosure in not directly related to the affairs of the Company,
unless the Company gives prior written authorization of such disclosure.

 

		8.8	The Employees agrees that during his employment by the Company and thereafter he (a) will not disseminate
or otherwise make use of the Confidential Information or of other non-public information of which he learned while working for
the Company, except where such dissemination or use is directly related to the affairs of the Company; (b) will maintain the confidentiality
of the Confidential Information; and (c) will not in any way act to injure the reputation of the Company or any of its affiliated
companies.

 

		8.9	The Employee understands and recognizes that his services to the Company are special and unique.
Therefore, he agrees that during the term of this Agreement and for one (1) year after the termination for any reason of his employment,
he shall not be employed in or give any services to any business or third party that competes directly with the Company or whose
activities conflict with the activities of the Company, unless the Chief Executive Officer has given his explicit written consent
prior the commencement of such employment or the giving of such services.

 

		8.10	Upon termination of his employment, the Employee agrees to assist the Company with an orderly transition
of his responsibilities and to return to the Company any documents, information and/or materials that were given to him or which
were created by him in connection with his employment.

 

		9.	Intellectual Property Rights

 

		9.1	The Employee declares that he is aware that anything that is done by him in the Company or in connection
with the Company, whether it be an invention, a discovery, or the development of an idea or a thing, all within the framework of
the Company’s business (the Development”) shall belong to and be controlled by the Company, unless the Board of Directors
shall, in writing, direct otherwise.

 

     

     

    

 

		9.2	The Company shall have the right to fully utilize and exploit the Development, as it sees fit,
including changing it, registering part or all of it as a patent, whether in Israel or abroad, selling it, transferring it to a
third party, all without being required to either receive the Employee’s consent or pay the Employee any additional payment
for such Development apart from any payment he receives pursuant to this Agreement.

 

		9.3	The Development and any subsequent intellectual property arising therefrom shall remain the sole
property of the Employer even after the Employee’s employment terminates for any reason. The termination of this Agreement,
whether due to its breach or its own terms, shall not impair the Company’s exclusive rights in the Development. Notwithstanding
the termination of this Agreement, the Board of Directors shall have the discretion to award the Employee a cash payment in accordance
with the terms of paragraph 5.2, above, as a result of any Development or subsequent intellectual property arising therefrom developed
primarily by the Employee.

 

		9.4	The Employee may not do anything with the Development or any related materials without the knowledge
and prior consent of the Company. The Employee declares that he neither has nor will have any rights in the Development or its
fruits and that all rights to the Development and its fruits shall fully reside in the Company.

 

		9.5	Even in the event that at the time of the termination of the Employee’s employment for any
reason the Development has not been completed, the Employee shall be prohibited from any continued activity in connection with
the subject of the Development, alone or in concert with others, that is not explicitly allowed in writing by the Company. The
Company alone will be the sole owner of the uncompleted Development and shall have the sole right to complete the Development or
to take any other action in connection with the Development.

 

		10.	Indemnification

 

The Company
shall take whatever steps are necessary to indemnify the Employee, including, but not limited to the Employee, for all actions
taken in good faith in pursuit of their duties and obligations to the Company. Such steps shall include, but shall not necessarily
be limited to, the obtaining of an appropriate level of Directors and Officers Liability coverage, if appropriate. In the event
the Employee will be signing the Company’s financial statements or other regulatory filings, then the Company shall include
the Employee in its Directors and Officers Liability coverage.

 

		11.	General

 

		11.1.	It is agreed that the provisions of this Agreement represent the full scope of the agreement between
the parties and that neither side shall be bound by any promises, declarations, exhibits, agreements or obligations, oral or written,
that are not included in this Agreement prior to its execution. Any changes or amendments to this Agreement must be in writing
and signed by both parties.

 

     

     

    

 

		11.2.	This Agreement shall be governed by, and construed and interpreted under, the laws of the State
of Israel. The parties agree that any legal claim lodged by one party against the other arising from the terms of this Agreement
shall be adjudicated only by the appropriate court in Tel Aviv, Israel.

 

		11.3.	If any provision of this Agreement shall be declared by a court of competent jurisdiction to be
invalid, illegal or incapable of being enforced in whole or in part, the remaining conditions and provisions or portions thereof
shall nevertheless remain in full force and effect and enforceable, and no provision shall be deemed dependent upon any other covenant
or provision unless so expressed herein.

 

		11.4.	The rights, benefits, duties and obligations under this Agreement shall inure to, and be binding
upon, the Company, its successors and assigns, and upon the Employee and his legal representatives. This Agreement constitutes
a personal service agreement, and the performance of the Employee's obligations hereunder may not be transferred or assigned by
the Employee.

 

		11.5	The failure of either party to insist upon the strict performance of any of the terms, conditions
and provisions of this Agreement shall not be construed as a waiver or relinquishment of future compliance therewith or with any
other term, condition or provision hereof, and said terms, conditions and provisions shall remain in full force and effect. No
waiver of any term or condition of this Agreement on the part of either party shall be effective or any purpose whatsoever unless
such waiver is in writing and signed by such party.

 

		11.6	The headings of Sections are inserted for convenience and shall not affect any interpretation of
this Agreement.

 

		12.	Notices

 

		12.1.	A notice that is sent by registered mail to a party at its address as set forth in paragraph 12.2,
below, shall be deemed received three (3) days after its posting, and the receipt stamped by the post office shall represent definitive
evidence of the date of mailing.

 

		12.2.	The addresses of the parties for the purposes of this Agreement are:

 

XTL Biopharmaceuticals
Ltd.

85 Medinat
Hayehudim

Herzliya,
Israel

 

Employee:

 

David Kestenbaum

7 Haerez St.

Raanana 43232
Israel

 

     

     

    

 

IN WITNESS
WHEREOF the parties have hereunto set their hands at the place and on the date first above written.

 

 

	XTL Biopharmaceuticals Ltd.	 	David Kestenbaum

 

	By:	 	 
	Name:	Josh Levine	 
	Title:	Chief Executive Officer	 
	Date:	January 9, 2014	 
	 	 	 
	By:	 	 
	Name:	 	 
	Title:	 	 
	Date:	January 9, 2014Exhibit 10.11

 

CONSULTING AGREEMENT

 

THIS
AGREEMENT (the “Agreement”) entered into on the 1 day of January 2015, by and between XTL Biopharmaceuticals
Ltd., an Israeli publicly traded company, with its principal offices at Medinat Hayehudim St. 85, Herzliya, Israel (the "Company")
and Schapiro Education Ltd., an Israeli corporation, number 515177111, of 28 Gilad St., Cohav Yair, Israel (hereinafter referred
to as the “Consultant” and collectively with the Company shall be the “Parties”).

 

WHEREAS, the
Company is engaged in biopharmaceutical research and development utilizing unique techniques and technologies in SLE and Multiple
Myeloma (the ''Field''); and

 

WHEREAS, the
Consultant has the necessary know-how, qualifications and experience in the Field required in order to provide the consulting services
relating to the Field as herein set forth and as shall be agreed from time to time by the Parties; and

 

WHEREAS, the
Company desires to appoint the Consultant, and the Consultant desires to be appointed by the Company, as a consultant to the Company
and in connection thereof, to provide to the Company with medical, regulatoryand clinical consulting services, as hereinafter set
forth and as shall be agreed from time to time by the Parties.

 

NOW THEREFORE, in consideration
of the mutual undertakings and promises herein contained, the Parties hereby agree as follows:

 

		1.	THE APPOINTMENT

 

		1.1	Subject to the terms hereof, and the approval of the Company's shareholders meeting, the Company
will appoint the Consultant, and the Consultant hereby agrees to be appointed by the Company as a consultant to the Company in
connection with the Services (as defined below) to be provided, from time to time, by the Consultant, exclusively through Dr. Jonathan
M. Schapiro, I.D. number 012654141(hereinafter: "Dr. Schapiro"), pursuant to this Agreement.

 

		1.2	In rendering its services hereunder, the Consultant, and for avoidance of doubt Dr. Schapiro, shall
be deemed to be, and it is, an independent contractor, and neither this Agreement nor the performance of any of the terms hereof
will or will be deemed to constitute or create any other relationship between the Company, the Consultant and Dr. Schapiro.

 

		1.3	Without derogating from any other provision herein, the Consultant acknowledges and agrees that
during the term hereof (a) the Company is free at all times to appoint other consultants, or to use its own consultants, in connection
with any of the services to be provided by the Consultant pursuant to Section 2 hereof, and (b) the Consultant will exercise best
effort,care and diligence in the performance of the services to be provided pursuant to Section 2 below.

 

		2	EXTENT AND SCOPE OF SERVICES

 

		2.1	During the Term of Agreement (defined below), the Consultant shall provide the Company with consulting
services related to the Field exclusively through Dr. Schapiro, as shall be agreed from time to time by the Parties  including,
among others, reviewing documents, attending meetings and/or conference calls (the “Services”).

 

		2.2	The Consultant hereby undertakes that he will provide the Services, as stipulated in this Agreement,
to the Company with a high degree of devotion, professionalism and proficiency.

 

     

     

    

 

		2.3	The Consultant shall provide the Services through Dr. Schapiro,, under the direction of, subject
to the approval of, and shall report to the CEO, or such person designated by the CEO (the "Designee").

 

		2.4	The Parties hereby agree that the neither the Consultant nor Dr. Schapiro, are not deemed to be
an agent or a representative of the Company and therefore does not possess any authority, whether actual or apparent, to represent
the Company or to contractually commit the Company in any way or manner.

 

		3	COMPENSATION and OPTIONS

 

		3.1	In consideration of the Services provided to the Company by the Consultant hereunder, the Company
shall pay the Consultant a monthly consulting fee of US $3,000 per month + VAT (the: “Consulting Fee”).

 

		3.2	As agreed by the Parties, Dr. Schapiro is granted with 150,000 options to purchase 150,000 ordinary
shares of the Company of nominal value of NIS 0.1,available through the Company’s ESOP (as defined below) (the “Options”),
subject to any dilution and subject to the following conditions:

 

		3.2.1.1	The Options shall vest over a period of 36 months, so that 4/12 of the Options will vest following
the first anniversary of the engagement date and the remaining 8/12 shall vest on a quarterly basis (with 1/12 of the Options vesting
on the last day of each three month period).

 

		3.2.1.2	The exercise price of each Option shall be the NIS 0.4915 each, non-linked, reflecting a price
25% higher than the average share price in the 30 days preceding the date of the Board of Directors' resolution.

 

		3.2.1.3	The Options shall be granted in accordance with an Option Agreement to be signed between Dr. Schapiro
and the Company and shall be at all times subject to (i) all the terms of the Company's Share Option Plan (“ESOP”),
(ii) any terms and conditions as shall be determined and altered from time to time by the Board or any of its committees and meeting
of the shareholders of the Company, as applicable in accordance with the terms of the ESOP, and (iii) any reasonable and customary
lock-up agreement the Company may enter from time to time with investment banks or underwriters in connection with an offering
of its securities. However, any such alteration shall not derogate from the rights granted herein.

 

		3.2.1.4	The allotment of the Options will be made in accordance with Section 3(i) of of the Income Tax
Ordinance (New Version) – 1961 (the "Ordinance"). Any tax liability in connection with the Options (including
with respect to the grant, exercise, sale of the Options or the shares receivable upon their exercise) shall be borne solely by
the Consultant.

 

		3.2.1.5	For the sake of good order it is hereby clarified that for the purposes of the "Grant Notification
Letter" singed between Dr. Schapiro and the Company, services provided to the Company by the Consultant shall be considered
as provided to the Company by Dr. Schapiro.

 

     

     

    

 

		3.3	The Consultant shall deliver to the Company a monthly invoice for the Consulting Fee (the
“Invoice”) and the Company shall pay the Consulting Fee within the end of the month+ 30 days of receipt of the
Invoice.

 

		3.4	In addition to the Consulting Fee, the Company shall reimburse the Consultant for any extraordinary
expenses incurred by Consultant, which are to be approved in advance by the Company (the "Approved Expenses").
Consultant shall submit, in writing, in the proper format, an expense report for the Approved Expenses, together with written
receipts and/or invoices evidencing such expenses. Where expenses have been incurred by means of installment payments or on credit,
Consultant shall not be reimbursed for such expenses until he has actually paid them, i.e., his account has been debited for each
installment. Consultant hereby acknowledges that once reimbursement has been received for goods purchased by Consultant on behalf
of the Company, such goods shall become the sole property of the Company.

 

The payments provided by this
Agreement shall be made to the Consultant after deduction of all taxes and deductions at source as required by law.

 

		3.5	The Parties hereto agree that all taxes, social insurance payments, pension payments, health insurance
and any other such payments, if existing, shall be borne solely by the Consultant. The Company shall not pay nor be liable to pay
any taxes upon the payment to the Consultant of any remuneration as set forth in this Agreement. Consultant hereby undertakes to
indemnify and reimburse the Company for any amounts claimed or levied on the Company due to taxes, social insurance payments, pension
payments, health insurance and any other such payments resulting from any payment made by the Company to the Consultant under this
Agreement.

 

		3.6	The Company shall not undertake any social insurance premiums, pension payment, and health insurance,
including without limitation insurance coverage against illness, injuries and/or damages in the name of the Consultant or Dr. Schapiro.

 

		4	OWNERSHIP OF INVENTIONS

 

		4.1	Any and all ''Inventions'' (as hereinafter defined) shall be the property of the Company,
and any Inventions which are made by Consultant, including for avoidance of doubt Dr. Schapiro, in performance of the Services
under this Agreement, to the maximum extent permitted by law, shall be “works made for hire”. The Consultant hereby
assigns and agrees to assign to the Company or its designee, without further consideration, the Consultant’s entire right,
title, and interest in and to all Inventions, including all rights to obtain, register, perfect, and enforce patents, copyrights,
mask work rights, and other intellectual property protection for Inventions. The Consultant further agrees to disclose promptly
and in writing to an individual designated by the Company or to the Consultant’s immediate supervisor at the Company all
Inventions which the Consultant has made or reduced to practice. Upon the Company’s request from time to time, the Consultant
will assist the Company (at its expense) to obtain and enforce patents, copyrights, mask work rights, and other forms of intellectual
property protection on Inventions.

 

For purposes
hereof, “Inventions” shall mean any and all products, inventions, innovations, ideas, discoveries, designs,
schematics, formulas, software, databases, algorithms, programs, trade secrets, works of authorship, assays, developmental or experimental
work, methods, processes, techniques, improvements, and related know-how and which are made by Consultant, alone or in combination
with others, either on behalf of the Company under this Agreement, or with the use of or as a result of access to Confidential
Information or property, including but not limited to any derivative work which constitutes an improvement or modification to any
tangible form of Confidential Information, such as any design, drawing, or product that embodies Confidential Information, and
whether or not patentable, copyrightable, or qualified for other intellectual property protection.

 

     

     

    

 

		5	INDEPENDENT CONTRACTOR

 

		5.1	The Consultant warrants that he is aware that this Agreement is an agreement for the provision
of consulting services only, does not create employer-employee relations between him, and any of its personnel including without
limitation, Dr. Schapiro and the Company and does not confer upon him any rights save for those set forth herein.

 

		5.2	Without prejudice to the generality of the foregoing, it is hereby agreed that the Consultant shall
not be entitled to receive from the Company severance pay or any other payment or consideration deriving from employee-employer
relations and/or the termination thereof, including, but not limited to, social benefits, managers' insurance fund, education fund,
or the like. The Consultant further undertakes that he shall not bring a claim against the Company with any cause of action based
on employee-employer relations between him and the Company, and undertakes to indemnify the Company, upon its first demand, for
all reasonable expenses that may be occasioned to it in respect of or in connection with any claim in connection with such employee-employer
relations. The Consultant declares that the Consulting Fee he receives according to this agreement is 30% higher than the salary
that he would have received should he have been employed as an employee of the Company.

 

		5.3	If, for any reason whatsoever, any competent authority, including a judicial entity, determines
that the Consultant is to be regarded as an employee of the Company, or entitled to any amounts that are derived from employee-employer
relationships, then in lieu of the Consulting Fee that was paid to the Consultant by the Company as of the Effective Date of this
Agreement, the Consultant shall be deemed to be entitled to a reduced consideration which equals to 70% of the Consulting Fee(the
“Reduced Consideration”). The Consultant's entitlement to the Reduced Consideration shall be regarded as gross
compensation and shall apply retroactively as of the effective date, and the Consultant shall immediately refund to the Company
any amount paid on account of the Consulting Fee by the Company as of the effective date in excess of the Reduced Consideration.

 

		6	NONDISCLOSURE AND COMPETITIVE ACTIVITY

 

		6.1	As a condition to Consultant’s rights under this Agreement, Consultant will execute and deliver
to the Company the Secrecy, Non Competition and Proprietary Information agreement in the form attached hereto as ScheduleA.
Consultant’s obligations under such secrecy agreement will survive any termination of this Agreement.

 

		6.2	If Consultant breaches any or all of the covenants set forth in Schedule Ahereto, the Company
shall be entitled to the following remedies: (i) damages from Consultant and (ii) in addition to its right to damages and any other
rights it may have, to obtain injunctive or other equitable relief to restrain any breach or threatened breach or otherwise to
specifically enforce the provisions of Schedule Aattached hereto, it is agreed that money damages alone would be inadequate
to compensate the Company and would be an inadequate remedy for such breach.

 

     

     

    

 

		6.3	The rights and remedies of the parties to this Agreement are cumulative and not alternative.

 

		7	TERM AND TERMINATION

 

		7.1	Subject to the provisions of Sections 7.2 below, this Agreement shall take effect as of the approval
date of the Company shareholders meeting (the:"Effective Date") and shall continue in full force and effect until
terminated by either party upon 30 days prior written notice (the ''Term'').

 

		7.2	Without prejudice to the provision of Sections 7.1 above:

 

		7.2.1	The Company shall have the right to terminate this Agreement during the Term for “just cause”,
at any time, by giving the Consultant notice of termination for the just cause, stating the reasons constituting the just cause.
In such event, this Agreement shall be terminated within ten (10) days (the "Period") from the time of delivery
of the said notice. Any of the following actions or omissions by the Consultant or Dr. Schapiro shall constitute a "just cause"
under this Section 7.2.1: (i) a material breach by Consultant or Dr. Schapiro of any of the covenants set forth in Schedule
A attached hereto; (ii) a material breach by Consultant or Dr. Schapiro of any provision of this Agreement other than Schedule
A attached hereto which is not cured by Consultant or Dr. Schapiro within five (5) days after his receipt of notice thereof
from the Company containing a description of the breach or breaches alleged to have occurred; (iii) habitual neglect by Consultant
or Dr. Schapiro or gross failure by Consultant or Dr. Schapiro to adequately perform his services and duties hereunder; or (iv)
any act (or failure to act) of moral turpitude by Consultant or Dr. Schapiro or action (or omission) by Consultant or Dr. Schapiro
to harm the Company.

 

		7.2.2	The Consultant shall have the right to terminate this Agreement for “just cause”, at
any time, by giving to the Company notice of termination for the cause, stating specifically the reasons constituting the cause.
In such event, this Agreement shall be terminated as of the time of delivery of the said notice. Any of the following actions or
omissions by the Company shall constitute a "just cause" under this Section 7.2.2: (i) a material breach by the Company
of any provision of this Agreement which is not cured by the Company within five (5) days after its receipt of notice thereof from
Consultant containing a description of the breach or breaches alleged to have occurred (ii) any action by the Company to intentionally
harm Consultant (iii) the Company becoming bankrupt or insolvent or ceasing or threatening to cease to carry on business or being
unable to pay its debts as they fall due or a receiver or other encumbrances being appointed to the undertaking and assets, or
any material part thereof of the Company.

 

		7.3	Upon termination of this Agreement, the Consultant shall be entitled to receive the Consulting
Fee accrued but unpaid (together with any expenses payable to Consultant pursuant to Section 3.4 above) as of the date of termination.
The Company shall be entitled to deduct and offset any amount owed by the Consultant or Dr. Schapiro to the Company, including
but not limited, to equipment and property belonging to the Company and not returned by the Consultant, from the payments made
by the Company to the Consultant upon such termination.

 

     

     

    

 

		7.4	During the Period or the 30 days prior written notice period mentioned above, other than upon termination
by Consultant for “just cause”, to the extent requested by the Company, the Consultant shall cooperate with the Company
and use reasonable efforts to assist the integration into the Company's organization of the person or persons who will assume the
Consultant's responsibilities hereunder, if any. At the option of the Company, the Consultant shall during such period either continue
the rendering of the Services or cease such service.

 

		7.5	In the event of any termination of this Agreement, whether or not for "just cause" and
whatever the reason, the Consultant will promptly deliver to the Company all documents, data, records and other information pertaining
to the Services and any other equipment belonging to the Company in the Consultant’s possession, and the Consultant will
not take with him any documents or data, or any reproduction or excerpt of any documents or data, containing or pertaining to the
Services provided by it to the Company.

 

		8	REPRESENTATIONS BY THE CONSULTANT AND DR. SCHAPIRO 

 

The Consultant
and Dr. Schapiro hereby represent's and warrant's, separately, as follows:

 

		8.1	There is no limitation and/or restriction in any agreement to which he is a party, or by which
he is bound, on his ability to enter into this Agreement and/or to enter into a business relationship with the Company in accordance
with the provisions of this Agreement (including, without limitation, in any prior employment and/or consulting agreement entered
into by it).

 

		8.2	He will exercise reasonable care and diligence to prevent, and will not take any action which could
result in a conflict with, or be prejudicial to, the interests of the Company in relation to the Field.

 

		8.3	In rendering the Services, He shall be deemed to be, and he expressly agrees and confirms that
he is, an independent contractor, and neither this Agreement nor the performance of any of the terms hereof shall be deemed to
constitute or create any other relationship between him and the Company. He shall not be considered as an agent or legal representative
of the Company for any purpose whatsoever.

 

		8.4	Unless specifically authorized by the Designee, he is not granted and shall not exercise the right
or authority to assume or create any obligation or responsibility on behalf of or in the name of the Company, including without
limitation, contractual obligations and obligations based on warranties or guarantees.

 

.He will not, during the Term
of Agreement and at any time thereafter, make any voluntary statements, written or verbal, or cause or encourage others to make
any such statements that defame, disparage or in any way criticize the reputation, business practices or conduct of the Company.

 

		9	MISCELLANEOUS

 

		9.1	This Agreement shall be subject to the laws of the state of Israel, excluding its conflict of law
provisions, and the competent courts of the Tel-Aviv District, Israel shall have exclusive jurisdiction over any dispute arising
there-from.

 

     

     

    

 

		9.2	This Agreement is the entire agreement between the parties with respect to the subject matter hereof,
and supersedes all prior understandings, agreements and discussions between them, either written or oral, with respect to such
subject matter.

 

		9.3	No alteration of or modification to any of the provisions of this Agreement shall be valid unless
made in writing and signed by both parties.

 

		9.4	The failure of either party hereto to enforce at any time or for any period any provision of this
Agreement shall not be construed as a waiver of such right or provision and such party shall be entitled to enforce such right
or provision at any time as it shall see fit.

 

		9.5	Any notice required or permitted thereunder shall be given in writing and shall be deemed given
if sent by electronic transmission or registered airmail to the address of the party.

 

		9.6	This Agreement may not be assigned without the written consent of the other party.

 

IN WITNESS WHEREOF, the parties hereto
have executed this Agreement as of the day and year first above written.

 

	XTL Biopharmaceuticals Ltd.	 	
        Schapiro Education Ltd.:

        

	 	 	 
	By:	 	 	Name: 	 
	 	 	 	 
	Name and Title: Josh Levine, CEO	 	Signature: 	 
	 	 	 	 
	Date:	 	 	Date:	 

 

	Dr. Jonathan M. Schapiro	 
	 	 
	I approve all of the above said.	 
	 	 
	Singature:	 	 
	 	 	 
	Date:	 	 

 

     

     

    

 

SCHEDULE A

 

SECRECY,
NON-COMPETITION AND PROPRIETARY INFORMATION AGREEMENT

 

This Secrecy, Non-Competition and Proprietary
Information Agreement (the “Agreement”) is made as of January1, 2015by and between XTL Biopharmaceuticals
Ltd., an Israeli publicly traded company, with its principal offices at MedinatHayehudim St. 85, Herzliya, Israel (the "Company")
and Schapiro Education Ltd. and Dr. Jonathan Schapiro,I.D. number 012654141 of 28 Giladst., CohavYair, Israel an
(together the “Consultant”).

 

WHEREASthe Consultant has entered
an Consulting Agreement with the Company dated January 1, 2015 (the “Consulting Agreement”); and

 

WHEREASthe Consultant agreed
to enter into this Undertaking;

 

NOW, THEREFORE, the Consultant undertakes
and warrants towards the Company and any subsidiary and parent company of the Company as follows:

 

		1.	Confidential
Information

 

		1.1	In the course of providing services to the Company hereunder, the Consultant may have access to,
and become familiar with, “Confidential Information” of the Company (as hereinafter defined). The Consultant shall
at all times hereinafter maintain in the strictest confidence all such Confidential Information and shall not divulge any Confidential
Information to any person, firm or corporation without the prior written consent of the Company. For purposes hereof, “Confidential
Information” shall mean all Company's information in any and all medium which is confidential by its nature, including,
without limitation, data, technology, know-how, inventions, ideas, discoveries, designs, processes, formulations, samples, compositions,
methods, models, and/or trade and business secrets relating to any line of business in which the Company is involved. Confidential
Information will also include the Company’s development, marketing and business plans relating to current, planned, old or
future products and/or any confidential information belong to any third party to whom the Company owes an obligation of confidence
and is identified as confidential.

 

		1.2	The Consultant shall not use Confidential Information for, or in connection with, the development,
manufacture or the use of any product or for any other purpose whatsoever except as and to the extent provided in this Agreement
or in any other subsequent agreement between the parties.

 

		1.3	Notwithstanding the foregoing, Confidential Information shall not include information which the
Consultant can evidence to the Company : (i) is in, or enters the public domain otherwise than by reason of a breach hereof by
the Consultant; (ii) is known by the Consultant at the time of disclosure thereof by the Company; (iii) is independently developed
by the Consultant without recourse to Confidential Information; or (iv) is rightfully transmitted or disclosed to the Consultant
by a third party which owes an obligation of confidentiality with respect to such information.

 

		1.4	All Confidential Information made available to, or received by, the Consultant shall remain the
property of the company, and no license or other rights in or to the Confidential Information is granted hereby, the obligation
of the Consultant is not to use any Confidential Information disclosed pursuant to this Agreement except as provided in this Agreement,
shall remain in effect indefinitely, and the Consultant shall be prohibited from disclosing any such Confidential Information during
the term of this Agreement thereafter.

 

     

     

    

 

		1.5	All Company's files, records, documents, drawings, specifications, equipment and similar items
relating to the business of the Company, whether prepared by the Consultant or otherwise coming into his possession, and whether
classified as Confidential Information or not, shall remain the exclusive property of the Company. Upon termination or expiration
of this Agreement, or upon request by the Company, the Consultant shall promptly turn over to the Company all such files, records,
reports analysis, documents and other material of any kind concerning the Company, which the Consultant obtained, received or prepared
pursuant to this Agreement.

 

		1.6	Except with prior written authorization by the Board of Directors of the Company (“BOD”),
the Consultant agrees not to disclose or publish any of the Confidential Information, at any time during or after his engagement
with the Company.

 

		1.7	The Consultant agrees, during his engagement with the Company, not to improperly use or disclose
any proprietary information or trade secrets of any former or concurrent employer or other person or entity and that he will not
bring onto the premises of the Company any unpublished document or proprietary information belonging to any such employer, person
or entity unless consented to in writing by such employer, person or entity.

 

		1.8	The Consultant recognizes that the Company has received and in the future will receive from third
parties their confidential or proprietary information subject to a duty on the Company's part to maintain the confidentiality of
such information and to use it only for certain limited purposes. The Consultant agrees to hold all such confidential or proprietary
information in the strictest confidence and not to disclose it to any person, firm or corporation or to use it except as necessary
in carrying out such Consultant's work for the Company consistent with the Company's agreement with such third party.

 

		2.	Non-Competition

 

		2.1	The Consultant shall not at any time during the term of this Agreement directly or indirectly,
engage in (as owner, stockholder, partner, director, officer, employee, consultant or otherwise, except as an investor in a corporation
whose stock is publicly traded and in which he holds less than 5% of the outstanding shares) any business which is involved in
the Field as described in the Consulting Agreement.

 

		2.2	Notwithstanding the aforesaid, the Consultant may, at any time during the term of this Agreement,
continue to perform academic research related to the activities and business of the Company and to the Field, provided that any
such academic research shall not result in any way in a breach of any term of this Agreement and shall not be for any commercial
activity.

 

		2.3	Services to Teva - Notwithstanding anything to the contrary, it is clarified that the Consultant
current consults to, and shall be entitled to consult to or to engage for the purposes of providing services in any other manner
(including by serving as a director) concurrently with his services to the Company, to and with Teva and to any company affiliated
therewith or which is part of Teva's group (hereinafter collectively, "Teva"), and such consulting or engagement
shall not constitute a breach of any of the provisions of this agreement, provided that the Consultant shall not disclose Confidential
Information to Teva and shall not provide consulting services to Teva directly with regard to a competing product of Teva in the
Field during the Term.

 

     

     

    

 

Furthermore,
it is hereby clarified that notwithstanding anything to the contrary, immediately upon the termination or expiration of this agreement
for whatsoever reason, the Consultant shall be free and entitled to consult to or be employed by Teva in any manner and in every
field, including without limitation, the Field, without any cooling-off period or any other restriction, provided only that the
Consultant shall not disclose Confidential Information to Teva, and the Company shall not have any claim whatsoever in this regard.

 

		2.4	The Consultant shall not, directly or indirectly, either for himself or for the benefit of any
other person or entity, at any time during the term of this Agreement and for Twelve(12) months thereafter, (A) induce or
attempt to induce any employee of the Company to leave the employ of the Company, (B) in any way interfere with the relationship
between the Company and any employee of the Company, (C) employ, or otherwise engage as an employee, independent contractor,
or otherwise, any employee of the Company, or (D) solicit any employee, customer, or supplier of the Company to cease or change
its legal or business relationship with the Company.

 

		2.5	In the event of a breach by the Consultant of any covenant set forth in Section 7 of this
Agreement, the term of such covenant will be extended by the period of the duration of such breach.

 

		3.	INVENTIONS.

 

		3.1	If in the course of this Agreement with the Company, the Consultant incorporates into a product,
process or machine of the Company, a prior invention owned by the Consultant or in which the Consultant has an interest relating
solely to the Field as described in the Consulting Agreement (''Prior Invention''), the Company is hereby granted and shall
have a non-exclusive, royalty-free, irrevocable, perpetual, worldwide license to make, have made, modify, use and sell such Prior
Invention as part of or in connection with such product, process or machine.

 

		3.2	The Consultant will disclose and deliver to the Company for the exclusive use and benefit of the
Company any Inventions (which in this paragraph shall mean any discovery, technique, design, formula, method of manufacture, inventions,
secret process, improvements, and modifications (whether or not capable of protection by rights in the nature of intellectual property)
which the Consultant alone or with one or more others has made or discovered during the Term of this Agreement and which pertain
to or result directly from any work which the Consultant has done or may hereafter do, solely for the Company), promptly upon the
making, devising, or discovering of the same, and will give all information and data in his possession as to the exact mode of
working, producing, and using the same and also all such explanations and instructions as may in the view of the Company be necessary
to enable the full and effectual working, production, or use of the same and will at the expense of the Company furnish it with
all necessary plans, drawings, formulae, and models.

 

		3.3	The Consultant, during the Term and of the grant of his services to the Copmany under this Agreement,
and for a charge agreed in advance, and at the expense of the Company, execute and do all acts, matters, documents, and things
to enable the Company or its nominee to apply for and obtain protection for the Inventions in any or all countries and to vest
title in the Company or such nominee absolutely.
	 	 	 

		3.4	During the term of this Agreement and at all times thereafter the Consultant will (whether by omission
or commission) do nothing to affect or imperil the validity of the protection for the Inventions obtained or applied for by the
Company or its nominee pursuant to this paragraph.

 

		3.5	Nothing in this Agreement shall oblige the Company to seek patent or other protection for any Invention
nor to exploit any Invention.

 

     

     

    

 

		3.6	The Consultant shall promptly disclose to the Company all copyright works or designs fully originated,
conceived, written, or made by him fully and solely during the grant of his services to the Company, and exclusively for the Company,
alone or with others and shall, until such rights shall be fully and absolutely vested in the Company, hold them in trust for the
Company.

 

		3.7	The Consultant hereby assigns to the Company by way of future assignment all copyright, design
right, and other proprietary rights, if any, for the full terms thereof throughout the world in respect of all copyright works
and designs described on para. 3.6 Above.

 

		3.8	The Consultant will, at the request and expense of the Company, during the Term of this Agreement
and of the grant of his services to the Company under this Agreement, and for a charge agreed in advance, do all reasonable things
necessary or desirable to substantiate the rights of the Company under Section 3.8, and hereby acknowledges and agrees that
the provisions of this paragraph shall survive any termination of this Agreement

 

		3.9	For the removal of any doubt, it is hereby clarified that the provisions contained in Sections 3.2
and 3.7 above will apply also to any "Service Inventions" as defined in the Israeli Patent Law, 1967 (the "Patent
Law") relating to the Field as described in the Consulting Agreement. However, in no event will such Service Invention
become the property of the Consultant and the provisions contained in Section 132(b) of the Patent Law shall not apply unless
the Company provides in writing otherwise. The Consultant will not be entitled to royalties or other payment with regard to any
Prior Inventions, Service Inventions or any of the intellectual property rights set forth above, including any commercialization
of such Prior Inventions, Service Inventions or other intellectual property rights, all in relation to the Field as described in
the Consulting Agreement

 

		3.10	In the event that following the termination of his Agreement with the Company, the Consultant is
requested and agrees to assist the Company on any matter related to this Section 3, the Company will be required to pay the Consultant
a fee agreed in advance as remuneration for the Consultant’s efforts hereunder.

 

IN WITNESS WHEREOF, the parties hereto have executed this Secrecy,
Non-Competition and Proprietary Information Undertaking as of the day and year first above written.

 

	XTL Biopharmaceuticals Ltd.	 	Schapiro Education LTD.	 	Dr. Jonathan Schapiro
	 	 	 	 	 
	By:  	 	 	By:  	 	 	Signature:	 
	 	 	 	 	 	 	 	 
	Signature: 	 	 	Signature:

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