Document:

Exhibit
10.60

 

NONQUALIFIED
STOCK OPTION AGREEMENT

 

INSPIREMD,
INC.

 

1.
Grant of Option. Pursuant to the terms
of this Nonqualified Stock Option Agreement (this “Agreement”), InspireMD, Inc., a Delaware corporation
(the “Company”), and its Subsidiaries (defined below) (collectively, the “Group”),
the Company grants to

 

Marvin
Slosman

(the
“Optionee”),

 

an
option (the “Option” or “Stock Option”) to purchase a total of sixty thousand
seven hundred ninety-four (60,794) full shares of the Company’s Common Stock (defined below) (the “Optioned
Shares”) at an “Option Price” equal to $1.10 per share (being equal to the Fair Market
Value (defined below) per share of the Common Stock on the Date of Grant).

 

The
“Date of Grant” of this Stock Option is January 2, 2020. The “Option Period”
shall commence on the Date of Grant and shall expire on the date immediately preceding the tenth (10th) anniversary of the Date
of Grant, unless terminated earlier in accordance with Section 4 below. This Stock Option is intended to comply with the
provisions governing nonqualified stock options under the final Treasury Regulations issued on April 17, 2007, in order to exempt
this Stock Option from application of Section 409A of the Code and is granted as an inducement material to the Optionee’s
entering into employment with the Company in accordance with Section 711(a) of the New York Stock Exchange Market Company Guide.

 

2.
Definitions. For the purposes of this
Agreement, the following terms shall have the meanings set forth below:

 

a.
“Applicable Law” means
all legal requirements relating to the administration of equity incentive plans and the issuance and distribution of shares of
Common Stock, if any, under applicable corporate laws, applicable securities laws, the rules of any exchange or inter-dealer quotation
system upon which the Company’s securities are listed or quoted, the rules of any foreign jurisdiction applicable to equity
awards granted to residents therein, and any other applicable law, rule or restriction.

 

b.
“Board” means the board
of directors of the Company.

 

c.
“Cause” shall have
the meaning assigned to it in the Employment Agreement.

 

    	 

    	 

    

 

d.
“Change in Control” means any of the following, except as otherwise provided herein: (i) any consolidation,
merger, or share exchange of the Company in which the Company is not the continuing or surviving corporation or pursuant to which
shares of Common Stock would be converted into cash, securities, or other property, other than a consolidation, merger, or share
exchange of the Company in which the holders of Common Stock immediately prior to such transaction have the same proportionate
ownership of Common Stock of the surviving corporation immediately after such transaction; (ii) any sale, lease, exchange, or
other transfer (excluding transfer by way of pledge or hypothecation) in one transaction or a series of related transactions,
of all or substantially all of the assets of the Company; (iii) the stockholders of the Company approve any plan or proposal for
the liquidation or dissolution of the Company; (iv) the cessation of control (by virtue of their not constituting a majority of
directors) of the Board by the individuals (the “Continuing Directors”) who at the date of this Agreement
were directors or become directors after the date of this Agreement and whose election or nomination for election by the Company’s
stockholders was approved by a vote of at least two-thirds (2/3rds) of the directors then in office who were directors at the
date of this Agreement or whose election or nomination for election was previously so approved; (v) the acquisition of beneficial
ownership (within the meaning of Rule 13d-3 under the Exchange Act) of an aggregate of fifty percent (50%) or more of the voting
power of the Company’s outstanding voting securities by any person or group (as such term is used in Rule 13d-5 under the
Exchange Act) who beneficially owned less than fifty percent (50%) of the voting power of the Company’s outstanding voting
securities on the date of this Agreement; provided, however, that notwithstanding the foregoing, an acquisition shall not constitute
a Change in Control hereunder if the acquirer is (x) a trustee or other fiduciary holding securities under an employee benefit
plan of the Company and acting in such capacity, (y) a Subsidiary of the Company or a corporation owned, directly or indirectly,
by the stockholders of the Company in substantially the same proportions as their ownership of voting securities of the Company
or (z) any other person whose acquisition of shares of voting securities is approved in advance by a majority of the Continuing
Directors; or (vi) in a Title 11 bankruptcy proceeding, the appointment of a trustee or the conversion of a case involving the
Company to a case under Chapter 7.

 

e.
“Code” means the United
States Internal Revenue Code of 1986, as amended.

 

f.
“Committee” means the
committee appointed or designated by the Board to administer this Agreement.

 

g.
“Common Stock” means
the common stock, par value $0.0001 per share, which the Company is currently authorized to issue or may in the future be authorized
to issue, or any securities into which or for which the common stock of the Company may be converted or exchanged, as the case
may be, pursuant to the terms of this Agreement.

 

h.
“Employment Agreement”
means that certain Employment Agreement, dated as of December 6, 2019, by and between the Company and the Optionee.

 

i.
“Exchange Act” means
the United States Securities Exchange Act of 1934, as amended.

 

j.
“Fair Market Value”
means, as of a particular date, (i) if the shares of Common Stock are listed on any established national securities exchange,
the closing sales price per share of Common Stock on the consolidated transaction reporting system for the principal securities
exchange for the Common Stock on that date, or, if there shall have been no such sale so reported on that date, on the last preceding
date on which such a sale was so reported; (ii) if the shares of Common Stock are not so listed, but are quoted on an automated
quotation system, the closing sales price per share of Common Stock reported on the automated quotation system on that date, or,
if there shall have been no such sale so reported on that date, on the last preceding date on which such a sale was so reported;
(iii) if the Common Stock is not so listed or quoted, the mean between the closing bid and asked price on that date, or, if there
are no quotations available for such date, on the last preceding date on which such quotations shall be available, as reported
by the OTC Bulletin Board operated by the Financial Industry Regulation Authority, Inc. or the OTC Markets Group Inc., formerly
known as Pink OTC Markets Inc.; or (iv) if none of the above is applicable, such amount as may be determined by the Committee
(acting on the advice of an independent third party, should the Committee elect in its sole discretion to utilize an independent
third party for this purpose), in good faith, to be the fair market value per share of Common Stock. The determination of Fair
Market Value shall, where applicable, be in compliance with Section 409A of the Code.

 

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k.
“Good Reason” shall
have the meaning assigned to it in the Employment Agreement.

 

l.
“Incentive Stock Option”
means an incentive stock option within the meaning of Section 422 of the Code.

 

m.
“Subsidiary” means
(i) any corporation in an unbroken chain of corporations beginning with the Company, if each of the corporations other than the
last corporation in the unbroken chain owns stock possessing a majority of the total combined voting power of all classes of stock
in one of the other corporations in the chain, (ii) any limited partnership, if the Company or any corporation described in item
(i) above owns a majority of the general partnership interest and a majority of the limited partnership interests entitled to
vote on the removal and replacement of the general partner, and (iii) any partnership or limited liability company, if the partners
or members thereof are composed only of the Company, any corporation listed in item (i) above or any limited partnership listed
in item (ii) above. “Subsidiaries” means more than one of any such corporations, limited partnerships,
partnerships or limited liability companies.

 

n.
“Termination of Service”
occurs when an Optionee who is (i) an employee of the Company or any Subsidiary ceases to serve as an employee of the Company
and its Subsidiaries, for any reason; (ii) an outside director of the Company or a Subsidiary ceases to serve as a director of
the Company and its Subsidiaries for any reason; or (iii) a contractor of the Company or a Subsidiary ceases to serve as a contractor
of the Company and its Subsidiaries for any reason. Except as may be necessary or desirable to comply with applicable federal
or state law, a “Termination of Service” shall not be deemed to have occurred when an Optionee who is an employee
becomes an outside director or contractor or vice versa.

 

o.
“Total and Permanent Disability”
means an Optionee is qualified for long-term disability benefits under the Company’s or Subsidiary’s disability plan
or insurance policy; or, if no such plan or policy is then in existence or if the Optionee is not eligible to participate in such
plan or policy, that the Optionee, because of a physical or mental condition resulting from bodily injury, disease, or mental
disorder, is unable to perform his or her duties of employment for a period of six (6) continuous months, as determined in good
faith by the Committee, based upon medical reports or other evidence satisfactory to the Committee.

 

3.
Vesting; Time of Exercise. Except as specifically
provided in this Agreement, the Optioned Shares shall be vested, and the Stock Option shall be exercisable as follows:

 

a.
One third (1/3) of the total Optioned Shares
(rounded down for fractional shares) shall vest and that portion of the Stock Option shall become exercisable on the first anniversary
of the Date of Grant, provided the Optionee has continuously provided services to the Group as an employee, contractor, or outside
director through that date.

 

b.
An additional one third (1/3) of the total Optioned
Shares (rounded down for fractional shares) shall vest and that portion of the Stock Option shall become exercisable on the second
anniversary of the Date of Grant, provided the Optionee has continuously provided services to the Group as an employee, contractor,
or outside director through that date.

 

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c.
The remaining Optioned Shares shall vest and
that portion of the Stock Option shall become exercisable on the third anniversary of the Date of Grant, provided the Optionee
has continuously provided services to the Group as an employee, contractor, or outside director through that date.

 

Notwithstanding
the foregoing, in the event that (i) a Change in Control occurs, one hundred percent (100%) of the total Optioned Shares not previously
vested shall thereupon immediately become fully vested on the closing date of such Change in Control, provided that the Optionee
has continuously provided services to the Group as an employee, contractor, or outside director through such date, or (ii) the
Optionee incurs a Termination of Service (x) by the Company without Cause, or (y) by the Optionee for Good Reason, fifty percent
(50%) of the total Optioned Shares not previously vested shall thereupon immediately become fully vested and exercisable on the
date of such Termination of Service, as applicable.

 

4.
Term; Forfeiture.

 

a.
Except as otherwise provided in this Agreement,
to the extent the unexercised portion of the Stock Option relates to Optioned Shares which are not vested on the date of the Optionee’s
Termination of Service, the Stock Option will be terminated on that date. The unexercised portion of the Stock Option that relates
to Optioned Shares which are vested will terminate at the first of the following to occur:

 

i.
5 p.m. on the date the Option Period terminates;

 

ii.
5 p.m. on the date which is twenty-four (24)
months following the date of the Optionee’s Termination of Service due to death;

 

iii.
5 p.m. on the date which is twelve (12) months
following the date of the Optionee’s Termination of Service due to the Optionee’s Total and Permanent Disability;

 

iv.
5 p.m. on the date which is ninety (90) days
following the date of the Optionee’s Termination of Service by the Company without Cause;

 

v.
immediately upon the Optionee’s Termination
of Service by the Company for Cause;

 

vi.
5 p.m. on the date which is thirty (30) days
following the date of the Optionee’s Termination of Service for any reason not otherwise specified in this Section 4.a.;
and

 

vii.
5 p.m. on the date the Company causes any portion
of the Stock Option to be forfeited pursuant to Section 7 hereof.

 

5.
Who May Exercise. Subject to the terms
and conditions set forth in Sections 3 and 4 above, during the lifetime of the Optionee, the Stock Option may be exercised
only by the Optionee, or by the Optionee’s guardian or personal or legal representative. If the Optionee’s Termination
of Service is due to his death prior to the dates specified in Section 4.a. hereof, and the Optionee has not exercised
the Stock Option as to the maximum number of vested Optioned Shares as set forth in Section 3 hereof as of the date of
death, the following persons may exercise the exercisable portion of the Stock Option on behalf of the Optionee at any time prior
to the earliest of the dates specified in Section 4.a. hereof: the personal representative of his estate, or the person
who acquired the right to exercise the Stock Option by bequest or inheritance or by reason of the death of the Optionee; provided
that the Stock Option shall remain subject to the other terms of this Agreement and Applicable Laws, rules, and regulations.

 

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6.
No Fractional Shares. The Stock Option
may be exercised only with respect to full shares, and no fractional share of stock shall be issued.

 

7.
Manner of Exercise. Subject to such administrative
regulations as the Committee may from time to time adopt, the Stock Option may be exercised by the delivery of written notice
to the Committee setting forth the number of shares of Common Stock with respect to which the Stock Option is to be exercised
and the date of exercise thereof (the “Exercise Date”), which shall be at least three (3) days after
giving such notice unless an earlier time shall have been mutually agreed upon. On the Exercise Date, the Optionee shall deliver
to the Company consideration with a value equal to the total Option Price of the shares to be purchased, payable as follows, in
Optionee’s discretion: (a) cash, check, bank draft, or money order payable to the order of the Company; (b) Common Stock
(including restricted Common Stock) owned by the Optionee on the Exercise Date, valued at its Fair Market Value on the Exercise
Date, and which the Optionee has not acquired from the Company within six (6) months prior to the Exercise Date; (c) by delivery
(including by FAX) to the Company or its designated agent of an executed irrevocable option exercise form together with irrevocable
instructions from the Optionee to a broker or dealer, reasonably acceptable to the Company, to sell certain of the shares of Common
Stock purchased upon exercise of the Stock Option or to pledge such shares as collateral for a loan and promptly deliver to the
Company the amount of sale or loan proceeds necessary to pay such purchase price; and/or (d) in any other form of valid consideration
that is acceptable to the Committee in its sole discretion. In the event that shares of restricted Common Stock are tendered as
consideration for the exercise of a Stock Option, a number of shares of Common Stock issued upon the exercise of the Stock Option
equal to the number of shares of restricted Common Stock used as consideration therefor shall be subject to the same restrictions
and provisions as the restricted Common Stock so tendered.

 

Upon
payment of all amounts due from the Optionee, the Company shall cause the Common Stock then being purchased to be registered in
the Optionee’s name (or the person exercising the Optionee’s Stock Option in the event of his death) promptly after
the Exercise Date, unless the Optionee, or such other person, requests, in writing, delivery of the certificates for the Common
Stock, in accordance with the procedures established by the Committee. The obligation of the Company to register or deliver shares
of Common Stock shall, however, be subject to the condition that if at any time the Company shall determine in its discretion
that the listing, registration, or qualification of the Stock Option or the Common Stock upon any securities exchange or inter-dealer
quotation system or under any state or federal law, or the consent or approval of any governmental regulatory body, is necessary
as a condition of, or in connection with, the Stock Option or the issuance or purchase of shares of Common Stock thereunder, then
the Stock Option may not be exercised in whole or in part unless such listing, registration, qualification, consent, or approval
shall have been effected or obtained free of any conditions not reasonably acceptable to the Committee.

 

If
the Optionee fails to pay for any of the Optioned Shares specified in such notice or fails to accept delivery thereof, that portion
of the Optionee’s Stock Option and right to purchase such Optioned Shares may be forfeited by the Optionee.

 

8.
Nonassignability. The Stock Option is
not assignable or transferable by the Optionee except by will or by the laws of descent and distribution.

 

9.
Rights as Stockholder. The Optionee will
have no rights as a stockholder with respect to any of the Optioned Shares until the issuance of a certificate or certificates
to the Optionee, or the registration of such shares in the Optionee’s name, for the shares of Common Stock. The Optioned
Shares shall be subject to the terms and conditions of this Agreement. Except as otherwise provided in Section 10 hereof,
no adjustment shall be made for dividends or other rights for which the record date is prior to the issuance of such certificate
or certificates. The Optionee, by his execution of this Agreement, agrees to execute any documents requested by the Company in
connection with the issuance of the shares of Common Stock.

 

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10.
Adjustment of Number of Optioned Shares
and Related Matters.

 

a.
Adjustments. In the event that any dividend
or other distribution (whether in the form of cash, shares of Common Stock, other securities, or other property), recapitalization,
stock split, reverse stock split, reorganization, merger, consolidation, split-up, spin-off, combination, repurchase, or exchange
of shares of Common Stock or other securities of the Company, or other change in the corporate structure of the Company affecting
the shares occurs, the Company, in order to prevent diminution or enlargement of the benefits or potential benefits intended to
be made available under this Agreement, will adjust the number and class of shares of stock that may be delivered under this Agreement
and/or the number, class, and price of shares of stock covered by this Agreement. Notwithstanding anything herein to the contrary,
no adjustments shall be made or authorized to the extent that such adjustments would cause the Stock Option or this Agreement
to violate Section 409A of the Code.

 

b.
Merger or Change in Control. In the event
of a merger of the Company with or into another corporation or other entity or a Change in Control, the Optioned Shares granted
under this Agreement will be treated as the Company determines (subject to the provisions of Section 3 above and the following
paragraph) without the Optionee’s consent, including, without limitation (i) that the Optioned Shares will be assumed, or
a substantially equivalent award will be substituted, by the acquiring or succeeding corporation (or an affiliate thereof) with
appropriate adjustments as to the number and kind of shares and prices (and subject to Section 3 above); (ii) that the
Optioned Shares will vest and the restrictions applicable to the Optioned Shares will lapse, in whole or in part, prior to consummation
of such merger or Change in Control; (iii) the termination of this Agreement in exchange for an amount of cash and/or property,
if any, equal to the amount that would have been attained upon the realization of the Optionee’s rights as of the date of
the occurrence of the transaction (and, for the avoidance of doubt, if as of the date of the occurrence of the transaction the
Company determines in good faith that no amount would have been attained upon the realization of the Optionee’s rights,
then this Agreement may be terminated by the Company without payment); or (iv) any combination of the foregoing.

 

For
the avoidance of doubt, whether or not the successor corporation assumes or substitutes for the Optioned Shares (or portion thereof),
the Optionee will fully vest in and all restrictions on the Optioned Shares will lapse on the occurrence of a Change in Control.

 

For
purposes of this Section 10.b, the Optioned Shares will be considered assumed if, following the merger or Change in Control,
they confer the right to purchase or receive, for each share of Common Stock subject to this Agreement immediately prior to the
merger or Change in Control, the consideration (whether stock, cash, or other securities or property) received in the merger or
Change in Control by holders of the Company’s Common Stock for each share held on the effective date of the transaction
(and if holders were offered a choice of consideration, the type of consideration chosen by the holders of a majority of the outstanding
shares of Common Stock).

 

11.
Nonqualified Stock Option. The Stock Option
shall not be treated as an Incentive Stock Option.

 

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12.
Voting. The Optionee, as record holder
of some or all of the Optioned Shares following exercise of this Stock Option, has the exclusive right to vote, or consent
with respect to, such Optioned Shares until such time as the Optioned Shares are transferred in accordance with this Agreement;
provided, however, that this Section shall not create any voting right where the holders of such Optioned Shares
otherwise have no such right.

 

13.
Specific Performance. The parties acknowledge
that remedies at law will be inadequate remedies for breach of this Agreement and consequently agree that this Agreement shall
be enforceable by specific performance. The remedy of specific performance shall be cumulative of all of the rights and remedies
at law or in equity of the parties under this Agreement.

 

14.
Investment Representations. Notwithstanding
anything herein to the contrary, the Optionee hereby represents and warrants to the Company, that:

 

a.
The Common Stock that will be received upon exercise of the Stock Option are acquired for investment purposes only for the Optionee’s
own account and not with a view to or in connection with any distribution, re-offer, resale, or other disposition not in compliance
with the Securities Act of 1933 (the “Securities Act”) and applicable state securities laws;

 

b.
The Optionee, alone or together with the Optionee’s representatives, possesses such expertise, knowledge, and sophistication
in financial and business matters generally, and in the type of transactions in which the Company proposes to engage in particular,
that the Optionee is capable of evaluating the merits and economic risks of acquiring Common Stock upon the exercise of the Stock
Option and holding such Common Stock;

 

c.
The Optionee has had access to all of the information with respect to the Common Stock underlying the Stock Option that the Optionee
deems necessary to make a complete evaluation thereof and has had the opportunity to question the Company concerning the Stock
Option and the Common Stock underlying the Stock Option;

 

d.
The decision of the Optionee to acquire the Common Stock upon exercise of the Stock Option for investment has been based solely
upon the evaluation made by the Optionee;

 

e.
The Optionee understands that the Common Stock underlying the Stock Option constitutes “restricted securities” under
the Securities Act and has not been registered under the Securities Act in reliance upon a specific exemption therefrom, which
exemption depends upon, among other things, the bona fide nature of the Optionee’s investment intent as expressed herein.
The Optionee further understands that, subject to Section 27 below, the Common Stock underlying the Stock Option must be
held indefinitely unless it is subsequently registered under the Securities Act or an exemption from such registration is available;

 

f.
Except as set forth in Section 27 below, the Optionee acknowledges and understands that the Company is under no obligation
to register the Common Stock underlying the Stock Option and that the certificates evidencing such Common Stock will be imprinted
with a legend which prohibits the transfer of such Common Stock unless it is registered or such registration is not required in
the opinion of counsel satisfactory to the Company and any other legend required under applicable state securities laws; and

 

g.
The Optionee is an “accredited investor,” as such term is defined in Section 501 of Regulation D promulgated under
the Securities Act.

 

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15.
Optionee’s Acknowledgments. The
Optionee hereby agrees to accept as binding, conclusive, and final all decisions or interpretations of the Committee or the Board,
as appropriate, upon any questions arising under this Agreement.

 

16.
Law Governing. This Agreement shall be
governed by, construed, and enforced in accordance with the laws of the State of Delaware (excluding any conflict of laws rule
or principle of Delaware law that might refer the governance, construction, or interpretation of this Agreement to the laws of
another state).

 

17.
No Right to Continue Service or Employment.
Nothing herein shall be construed to confer upon the Optionee the right to continue in the employ or to provide services to the
Company or the Group, whether as an employee, contractor, or outside director, or interfere with or restrict in any way the right
of the Company or the Group to discharge the Optionee as an employee, contractor, or outside director at any time.

 

18.
Legal Construction. In the event that
any one or more of the terms, provisions, or agreements that are contained in this Agreement shall be held by a court of competent
jurisdiction to be invalid, illegal, or unenforceable in any respect for any reason, the invalid, illegal, or unenforceable term,
provision, or agreement shall not affect any other term, provision, or agreement that is contained in this Agreement, and this
Agreement shall be construed in all respects as if the invalid, illegal, or unenforceable term, provision, or agreement had never
been contained herein.

 

19.
Covenants and Agreements as Independent Agreements.
Each of the covenants and agreements that is set forth in this Agreement shall be construed as a covenant and agreement independent
of any other provision of this Agreement. The existence of any claim or cause of action of the Optionee against the Company, whether
predicated on this Agreement or otherwise, shall not constitute a defense to the enforcement by the Company of the covenants and
agreements that are set forth in this Agreement.

 

20.
Entire Agreement. This Agreement supersedes
any and all other prior understandings and agreements, either oral or in writing, between the parties with respect to the subject
matter hereof and constitutes the sole and only agreement between the parties with respect to the said subject matter. All prior
negotiations and agreements between the parties with respect to the subject matter hereof are merged into this Agreement. Each
party to this Agreement acknowledges that no representations, inducements, promises, or agreements, orally or otherwise, have
been made by any party or by anyone acting on behalf of any party, which are not embodied in this Agreement and that any agreement,
statement, or promise that is not contained in this Agreement shall not be valid or binding or of any force or effect.

 

21.
Parties Bound. The terms, provisions,
and agreements that are contained in this Agreement shall apply to, be binding upon, and inure to the benefit of the parties and
their respective heirs, executors, administrators, legal representatives, and permitted successors and assigns, subject to the
limitation on assignment expressly set forth herein.

 

22.
Modification. No change or modification
of this Agreement shall be valid or binding upon the parties unless the change or modification is in writing and signed by the
parties.

 

23.
Headings. The headings that are used in
this Agreement are used for reference and convenience purposes only and do not constitute substantive matters to be considered
in construing the terms and provisions of this Agreement.

 

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24.
Gender and Number. Words of any gender
used in this Agreement shall be held and construed to include any other gender, and words in the singular number shall be held
to include the plural, and vice versa, unless the context requires otherwise.

 

25.
Notice. Any notice required or permitted
to be delivered hereunder shall be deemed to be delivered only when actually received by the Company or by the Optionee, as the
case may be, at the addresses set forth below, or at such other addresses as they have theretofore specified by written notice
delivered in accordance herewith:

 

a.
Notice to the Company shall be addressed and
delivered as follows:

 

InspireMD,
Inc.

4
MENORAT HAMAOR ST.

TEL
AVIV L3 6744832

Attn:
______________

Fax:
_______________

 

b.
Notice to the Optionee shall be addressed and
delivered as set forth on the signature page.

 

26.
Tax Requirements. The Optionee is hereby
advised to consult immediately with his own tax advisor regarding the tax consequences of this Agreement. The Company or, if applicable,
any Subsidiary (for purposes of this Section 26, the term “Company” shall be deemed to include
any applicable Subsidiary), shall have the right to deduct from all amounts paid in cash or other form in connection with this
Agreement any federal, state, local, or other taxes required by law to be withheld in connection with this Agreement. The Company
shall permit Optionee receiving shares of Common Stock issued under this Agreement to pay the Company the amount of any taxes
that the Company is required to withhold in connection with the Optionee’s income arising with respect to this Agreement.
Such payments shall be required to be made when requested by the Company and may be required to be made prior to the registration
or delivery of any certificate representing shares of Common Stock, if such certificate is requested by the Optionee in accordance
with Section 7 of this Agreement. Such payment may be made by (a) the delivery of cash to the Company in an amount that
equals or exceeds (to avoid the issuance of fractional shares under (c) below) the required tax withholding obligations of the
Company; (b) if the Company, in its sole discretion, so consents in writing, the actual delivery by the exercising Optionee to
the Company of shares of Common Stock that the Optionee has not acquired from the Company within six (6) months prior to the date
of exercise, which shares so delivered have an aggregate Fair Market Value that equals or exceeds (to avoid the issuance of fractional
shares under (c) below) the required tax withholding payment; (c) if the Company, in its sole discretion, so consents in writing,
the Company’s withholding of a number of shares to be delivered upon the exercise of the Stock Option, which shares so withheld
have an aggregate Fair Market Value that equals or exceeds the required tax withholding payment, but in no event greater than
the maximum permitted tax withholding amount taking into account all applicable taxes;; or (d) any combination of (a), (b), or
(c). The Company may, in its sole discretion, withhold any such taxes from any other cash remuneration otherwise paid by the Company
to the Optionee.

 

27.
Registration Covenant. The Company covenants
and agrees to file a registration statement under the Securities Act on Form S-8, subject to requirements under Applicable Law,
with respect to this Agreement and the Stock Option granted hereunder as soon as administratively practicable following the Date
of Grant. Such registration shall be maintained for as long as the Optionee may exercise the Stock Option hereunder.

 

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IN
WITNESS WHEREOF, the Company has caused this Agreement to be executed by its duly authorized officer, and the Optionee, to evidence
his consent and approval of all the terms hereof, has duly executed this Agreement, as of the date specified in Section 1
hereof.

 

	 	THE
    COMPANY:
	 	 	 
	 	INSPIREMD,
    INC.
	 	 	 
	 	By:	/s/
    Craig Shore
	 	Name:	Craig
    Shore
	 	Title:	Chief
    Financial Officer
	 	 	 
	 	THE
    OPTIONEE:
	 	 	 
	 	/s/ Marvin Slosman
	 	Signature
	 	 	 
	 	Name:	Marvin
    Slosman
	 	Address:	XXX
	 	 	 

 

    	10Exhibit
10.61

 

RESTRICTED
STOCK UNIT AWARD AGREEMENT

 

INSPIREMD,
INC.

 

1.
Award of Restricted Stock Units. Pursuant to this Restricted Stock Unit Award Agreement (this “Agreement”),
InspireMD, Inc., a Delaware corporation (the “Company”), and its Subsidiaries (defined below) (collectively,
the “Group”),

 

Marvin
Slosman

(the
“Grantee”)

 

has
been granted an award for one hundred eighty-two thousand three hundred eighty-one (182,381) Restricted Stock Units (the “Awarded
Units”) which may be converted into the number of shares of Common Stock (defined below) of the Company equal to
the number of Restricted Stock Units, subject to the terms and conditions of this Agreement. The “Date of Grant”
of this award is January 2, 2020, and this award is being granted as an inducement material to the Grantee’s entering into
employment with the Company in accordance with Section 711(a) of the New York Stock Exchange Market Company Guide. Each Awarded
Unit shall be a notional share of Common Stock, with the value of each Awarded Unit being equal to the Fair Market Value (defined
below) of a share of Common Stock at any time.

 

2.
Definitions. For the purposes of this Agreement, the following terms shall have the meanings set forth below:

 

a.
“Applicable Law” means all legal requirements relating to the administration of equity incentive plans
and the issuance and distribution of shares of Common Stock, if any, under applicable corporate laws, applicable securities laws,
the rules of any exchange or inter-dealer quotation system upon which the Company’s securities are listed or quoted, the
rules of any foreign jurisdiction applicable to equity awards granted to residents therein, and any other applicable law, rule
or restriction.

 

b.
“Board” means the board of directors of the Company.

 

c.
“Cause” shall have the meaning assigned to it in the Employment Agreement.

 

d.
“Change in Control” means any of the following, except as otherwise provided herein: (i) any consolidation,
merger, or share exchange of the Company in which the Company is not the continuing or surviving corporation or pursuant to which
shares of Common Stock would be converted into cash, securities, or other property, other than a consolidation, merger, or share
exchange of the Company in which the holders of Common Stock immediately prior to such transaction have the same proportionate
ownership of Common Stock of the surviving corporation immediately after such transaction; (ii) any sale, lease, exchange, or
other transfer (excluding transfer by way of pledge or hypothecation) in one transaction or a series of related transactions,
of all or substantially all of the assets of the Company; (iii) the stockholders of the Company approve any plan or proposal for
the liquidation or dissolution of the Company; (iv) the cessation of control (by virtue of their not constituting a majority of
directors) of the Board by the individuals (the “Continuing Directors”) who at the date of this Agreement
were directors or become directors after the date of this Agreement and whose election or nomination for election by the Company’s
stockholders was approved by a vote of at least two-thirds (2/3rds) of the directors then in office who were directors at the
date of this Agreement or whose election or nomination for election was previously so approved; (v) the acquisition of beneficial
ownership (within the meaning of Rule 13d-3 under the Exchange Act) of an aggregate of fifty percent (50%) or more of the voting
power of the Company’s outstanding voting securities by any person or group (as such term is used in Rule 13d-5 under the
Exchange Act) who beneficially owned less than fifty percent (50%) of the voting power of the Company’s outstanding voting
securities on the date of this Agreement; provided, however, that notwithstanding the foregoing, an acquisition shall not constitute
a Change in Control hereunder if the acquirer is (x) a trustee or other fiduciary holding securities under an employee benefit
plan of the Company and acting in such capacity, (y) a Subsidiary of the Company or a corporation owned, directly or indirectly,
by the stockholders of the Company in substantially the same proportions as their ownership of voting securities of the Company
or (z) any other person whose acquisition of shares of voting securities is approved in advance by a majority of the Continuing
Directors; or (vi) in a Title 11 bankruptcy proceeding, the appointment of a trustee or the conversion of a case involving the
Company to a case under Chapter 7. Notwithstanding the foregoing provisions of this Section 2(d), if this Agreement is
subject to Section 409A of the Code, then an event shall not constitute a Change in Control for purposes of this Agreement unless
such event also constitutes a change in the Company’s ownership, its effective control or the ownership of a substantial
portion of its assets within the meaning of Section 409A of the Code.

 

    	 

    	 

    

 

e.
“Code” means the United States Internal Revenue Code of 1986, as amended.

 

f.
“Committee” means the committee appointed or designated by the Board to administer this Agreement.

 

g.
“Common Stock” means the common stock, par value $0.0001 per share, which the Company is currently authorized
to issue or may in the future be authorized to issue, or any securities into which or for which the common stock of the Company
may be converted or exchanged, as the case may be, pursuant to the terms of this Agreement.

 

h.
“Employment Agreement” means that certain Employment Agreement, dated as of December 6, 2019, by and
between the Company and the Grantee.

 

i.
“Exchange Act” means the United States Securities Exchange Act of 1934, as amended.

 

j.
“Fair Market Value” means, as of a particular date, (i) if the shares of Common Stock are listed on
any established national securities exchange, the closing sales price per share of Common Stock on the consolidated transaction
reporting system for the principal securities exchange for the Common Stock on that date, or, if there shall have been no such
sale so reported on that date, on the last preceding date on which such a sale was so reported; (ii) if the shares of Common Stock
are not so listed, but are quoted on an automated quotation system, the closing sales price per share of Common Stock reported
on the automated quotation system on that date, or, if there shall have been no such sale so reported on that date, on the last
preceding date on which such a sale was so reported; (iii) if the Common Stock is not so listed or quoted, the mean between the
closing bid and asked price on that date, or, if there are no quotations available for such date, on the last preceding date on
which such quotations shall be available, as reported by the OTC Bulletin Board operated by the Financial Industry Regulation
Authority, Inc. or the OTC Markets Group Inc., formerly known as Pink OTC Markets Inc.; or (iv) if none of the above is applicable,
such amount as may be determined by the Committee (acting on the advice of an independent third party, should the Committee elect
in its sole discretion to utilize an independent third party for this purpose), in good faith, to be the fair market value per
share of Common Stock. The determination of Fair Market Value shall, where applicable, be in compliance with Section 409A of the
Code.

 

    	2

    	 

    

 

k.
“Good Reason” shall have the meaning assigned to it in the Employment Agreement.

 

l.
“Subsidiary” means (i) any corporation in an unbroken chain of corporations beginning with the Company,
if each of the corporations other than the last corporation in the unbroken chain owns stock possessing a majority of the total
combined voting power of all classes of stock in one of the other corporations in the chain, (ii) any limited partnership, if
the Company or any corporation described in item (i) above owns a majority of the general partnership interest and a majority
of the limited partnership interests entitled to vote on the removal and replacement of the general partner, and (iii) any partnership
or limited liability company, if the partners or members thereof are composed only of the Company, any corporation listed in item
(i) above or any limited partnership listed in item (ii) above. “Subsidiaries” means more than one of
any such corporations, limited partnerships, partnerships or limited liability companies.

 

m.
“Termination of Service” occurs when a Grantee who is (i) an employee of the Company or any Subsidiary
ceases to serve as an employee of the Company and its Subsidiaries, for any reason; (ii) an outside director of the Company or
a Subsidiary ceases to serve as a director of the Company and its Subsidiaries for any reason; or (iii) a contractor of the Company
or a Subsidiary ceases to serve as a contractor of the Company and its Subsidiaries for any reason. Except as may be necessary
or desirable to comply with applicable federal or state law, a “Termination of Service” shall not be deemed to have
occurred when a Grantee who is an employee becomes an outside director or contractor or vice versa. Notwithstanding the foregoing
provisions of this Section 2(m), in the event this Agreement is subject to Section 409A of the Code, then, in lieu of the
foregoing definition and to the extent necessary to comply with the requirements of Section 409A of the Code, the definition of
“Termination of Service” for purposes of this Agreement shall be the definition of “separation from service”
provided for under Section 409A of the Code and the regulations or other guidance issued thereunder.

 

3.
Vesting; Time of Delivery of Shares. Awarded Units which have become vested pursuant to the terms of this Section 3
are collectively referred to herein as “Vested RSUs.” All other Awarded Units are collectively referred
to herein as “Unvested RSUs.”

 

a.
Except as specifically provided in this Agreement, the Awarded Units shall vest as follows:

 

i.
One-third (1/3) of the total Awarded Units (rounded down to the nearest whole unit) shall vest on the first anniversary of the
Date of Grant and become Vested RSUs, provided that the Grantee has continuously provided services to the Group as an employee,
contractor, or outside director through that date.

 

ii.
An additional one-third (1/3) of the total Awarded Units (rounded down to the nearest whole unit) shall vest on the second anniversary
of the Date of Grant and become Vested RSUs, provided that the Grantee has continuously provided services to the Group as an employee,
contractor, or outside director through that date.

 

iii.
The remaining Awarded Units shall vest on the third anniversary of the Date of Grant and become Vested RSUs, provided that the
Grantee has continuously provided services to the Group as an employee, contractor, or outside director through that date.

 

    	3

    	 

    

 

Notwithstanding
the foregoing, in the event that (i) a Change in Control occurs, one hundred percent (100%) of the Unvested RSUs shall thereupon
immediately become fully vested on the closing date of such Change in Control, provided that the Grantee has continuously provided
services to the Group as an employee, contractor, or outside director through such date, or (ii) the Grantee incurs a Termination
of Service (x) by the Company without Cause, or (y) by the Grantee for Good Reason, fifty percent (50%) of the Unvested RSUs shall
thereupon immediately become fully vested on the date of such Termination of Service.

 

b.
Subject to the other provisions of this Agreement, the Company shall convert the Vested RSUs into the number of whole shares of
Common Stock equal to the number of Vested RSUs and shall deliver to the Grantee (or the Grantee’s personal representative)
a number of shares of Common Stock equal to the number of Vested RSUs credited to the Grantee on the date that the first of the
following occurs: (i) a Change in Control or (ii) the termination of the Grantee’s employment with the Company for any reason
other than by the Company for Cause.

 

4.
Forfeiture of Awarded Units. Except as otherwise provided in Section 3.a above, upon the Grantee’s Termination
of Service for any reason, the Grantee shall be deemed to have forfeited all of the Grantee’s Unvested RSUs. Upon forfeiture,
all of the Grantee’s rights with respect to the forfeited Unvested RSUs shall cease and terminate, without any further obligations
on the part of the Company.

 

5.
Who May Receive Converted Awarded Units. During the lifetime of the Grantee, the Common Stock received upon conversion
of Awarded Units may only be received by the Grantee or his legal representative. If the Grantee dies prior to the date his Awarded
Units are converted into shares of Common Stock as described in Section 3 above, the Common Stock relating to such converted
Awarded Units may be received by any individual who is entitled to receive the property of the Grantee pursuant to the applicable
laws of descent and distribution.

 

6.
No Fractional Shares. Awarded Units may be converted only with respect to full shares, and no fractional share of Common
Stock shall be issued.

 

7.
Nonassignability. The Awarded Units are not assignable or transferable by the Grantee except by will or by the laws of
descent and distribution.

 

8.
Rights of a Stockholder. The Grantee will have no rights as a stockholder with respect to any shares covered by this Agreement
until the issuance of a certificate or certificates to the Grantee or the registration of such shares in the Grantee’s name
for the shares of Common Stock. The Awarded Units shall be subject to the terms and conditions of this Agreement. Except as otherwise
provided in Section 9 hereof, no adjustment shall be made for dividends or other rights for which the record date is prior
to the issuance of such certificate or certificates. The Grantee, by his execution of this Agreement, agrees to execute any documents
requested by the Company in connection with the conversion of the Awarded Units into shares of Common Stock pursuant to this Agreement.

 

9.
Adjustment of Number of Awarded Units and Related Matters.

 

a.
Adjustments. In the event that any dividend or other distribution (whether in the form of cash, shares of Common Stock,
other securities, or other property), recapitalization, stock split, reverse stock split, reorganization, merger, consolidation,
split-up, spin-off, combination, repurchase, or exchange of shares of Common Stock or other securities of the Company, or other
change in the corporate structure of the Company affecting the shares occurs, the Company, in order to prevent diminution or enlargement
of the benefits or potential benefits intended to be made available under this Agreement, will adjust the number and class of
shares of stock that may be delivered under this Agreement and/or the number, class, and price of shares of stock covered by this
Agreement. Notwithstanding anything herein to the contrary, no adjustments shall be made or authorized to the extent that such
adjustments would cause this Agreement to violate Section 409A of the Code.

 

    	4

    	 

    

 

10.
Specific Performance. The parties acknowledge that remedies at law will be inadequate remedies for breach of this Agreement
and consequently agree that this Agreement shall be enforceable by specific performance. The remedy of specific performance shall
be cumulative of all of the rights and remedies at law or in equity of the parties under this Agreement.

 

11.
Grantee’s Representations. Notwithstanding any of the provisions hereof, the Grantee hereby agrees that the Company
will not be obligated to issue any shares of Common Stock to the Grantee hereunder, if the issuance of such shares shall constitute
a violation by the Grantee or the Company of any provision of any law or regulation of any governmental authority. Any determination
in this connection by the Company shall be final, binding, and conclusive. The rights and obligations of the Company and the rights
and obligations of the Grantee are subject to all Applicable Laws, rules, and regulations.

 

12.
Investment Representation. Notwithstanding anything herein to the contrary, the Grantee hereby represents and warrants
to the Company, that:

 

a.
The Common Stock that will be received upon conversion of any Vested RSUs shall be acquired for investment purposes only for the
Grantee’s own account and not with a view to or in connection with any distribution, re-offer, resale, or other disposition
not in compliance with the Securities Act of 1933 (the “Securities Act”) and applicable state securities
laws;

 

b.
The Grantee, alone or together with the Grantee’s representatives, possesses such expertise, knowledge, and sophistication
in financial and business matters generally, and in the type of transactions in which the Company proposes to engage in particular,
that the Grantee is capable of evaluating the merits and economic risks of acquiring Common Stock upon the conversion of any Vested
RSUs and holding such Common Stock;

 

c.
The Grantee has had access to all of the information with respect to the Common Stock underlying the Awarded Units that the Grantee
deems necessary to make a complete evaluation thereof and has had the opportunity to question the Company concerning the Awarded
Units and the Common Stock underlying the Awarded Units;

 

d.
The decision of the Grantee to acquire the Common Stock upon conversion of any Vested RSUs for investment has been based solely
upon the evaluation made by the Grantee;

 

e.
The Grantee understands that the Common Stock underlying the Awarded Units constitutes “restricted securities” under
the Securities Act and has not been registered under the Securities Act in reliance upon a specific exemption therefrom, which
exemption depends upon, among other things, the bona fide nature of the Grantee’s investment intent as expressed herein.
The Grantee further understands that, subject to Section 26 below, the Common Stock underlying the Awarded Units must be
held indefinitely unless it is subsequently registered under the Securities Act or an exemption from such registration is available;

 

f.
Except as set forth in Section 26 below, the Grantee acknowledges and understands that the Company is under no obligation
to register the Common Stock underlying the Awarded Units and that the certificates evidencing such Common Stock will be imprinted
with a legend which prohibits the transfer of such Common Stock unless it is registered or such registration is not required in
the opinion of counsel satisfactory to the Company and any other legend required under applicable state securities laws; and

 

    	5

    	 

    

 

g.
The Grantee is an “accredited investor,” as such term is defined in Section 501 of Regulation D promulgated under
the Securities Act.

 

13.
Grantee’s Acknowledgments. The Grantee hereby agrees to accept as binding, conclusive, and final all decisions or
interpretations of the Committee or the Board, as appropriate, upon any questions arising under this Agreement.

 

14.
Law Governing. This Agreement shall be governed by, construed, and enforced in accordance with the laws of the State of
Delaware (excluding any conflict of laws rule or principle of Delaware law that might refer the governance, construction, or interpretation
of this Agreement to the laws of another state).

 

15.
No Right to Continue Service or Employment. Nothing herein shall be construed to confer upon the Grantee the right to continue
in the employ or to provide services to the Company or the Group, whether as an employee, contractor, or outside director, or
interfere with or restrict in any way the right of the Company or the Group to discharge the Grantee as an employee, contractor
or outside director at any time.

 

16.
Legal Construction. In the event that any one or more of the terms, provisions, or agreements that are contained in this
Agreement shall be held by a court of competent jurisdiction to be invalid, illegal, or unenforceable in any respect for any reason,
the invalid, illegal, or unenforceable term, provision, or agreement shall not affect any other term, provision, or agreement
that is contained in this Agreement and this Agreement shall be construed in all respects as if the invalid, illegal, or unenforceable
term, provision, or agreement had never been contained herein.

 

17.
Covenants and Agreements as Independent Agreements. Each of the covenants and agreements that is set forth in this Agreement
shall be construed as a covenant and agreement independent of any other provision of this Agreement. The existence of any claim
or cause of action of the Grantee against the Company, whether predicated on this Agreement or otherwise, shall not constitute
a defense to the enforcement by the Company of the covenants and agreements that are set forth in this Agreement.

 

18.
Entire Agreement. This Agreement supersedes any and all other prior understandings and agreements, either oral or in writing,
between the parties with respect to the subject matter hereof and constitutes the sole and only agreement between the parties
with respect to the said subject matter. All prior negotiations and agreements between the parties with respect to the subject
matter hereof are merged into this Agreement. Each party to this Agreement acknowledges that no representations, inducements,
promises, or agreements, orally or otherwise, have been made by any party or by anyone acting on behalf of any party, which are
not embodied in this Agreement and that any agreement, statement, or promise that is not contained in this Agreement shall not
be valid or binding or of any force or effect.

 

19.
Parties Bound. The terms, provisions, and agreements that are contained in this Agreement shall apply to, be binding upon,
and inure to the benefit of the parties and their respective heirs, executors, administrators, legal representatives, and permitted
successors and assigns, subject to the limitation on assignment expressly set forth herein.

 

20.
Modification. No change or modification of this Agreement shall be valid or binding upon the parties unless the change
or modification is in writing and signed by the parties; provided, however, that the Company may change or modify this Agreement
without the Grantee’s consent or signature if the Company determines, in its sole discretion, that such change or modification
is necessary for purposes of compliance with or exemption from the requirements of Section 409A of the Code or any regulations
or other guidance issued thereunder.

 

    	6

    	 

    

 

21.
Headings. The headings that are used in this Agreement are used for reference and convenience purposes only and do not
constitute substantive matters to be considered in construing the terms and provisions of this Agreement.

 

22.
Gender and Number. Words of any gender used in this Agreement shall be held and construed to include any other gender,
and words in the singular number shall be held to include the plural, and vice versa, unless the context requires otherwise.

 

23.
Notice. Any notice required or permitted to be delivered hereunder shall be deemed to be delivered only when actually received
by the Company or by the Grantee, as the case may be, at the addresses set forth below, or at such other addresses as they have
theretofore specified by written notice delivered in accordance herewith:

 

	 	a.	Notice
    to the Company shall be addressed and delivered as follows:
	 	 	 
	 	 	InspireMD,
    Inc.
	 	 	4
    MENORAT HAMAOR ST.
	 	 	TEL
    AVIV L3 6744832
	 	 	Attn:___________________
	 	 	Fax:____________________
	 	 	 
	 	b.	Notice
    to the Grantee shall be addressed and delivered as set forth on the signature page.

 

24.
Section 409A; Six Month Delay. Notwithstanding anything herein to the contrary, in the case of a distribution of shares
of Common Stock on account of any Termination of Service, other than death, a distribution of the number of such shares, determined
after application of the withholding requirements set forth in Section 25 below, on behalf of the Grantee, if the Grantee
is a “specified employee” as defined in § 1.409A-1(i) of the Final Regulations under Section 409A of the Code,
to the extent otherwise required under Section 409A of the Code, shall not occur until the date which is six (6) months following
the date of the Grantee’s Termination of Service (or, if earlier, the date of death of the Grantee).

 

25.
Tax Requirements. The Grantee is hereby advised to consult immediately with his own tax advisor regarding the tax consequences
of this Agreement. Unless the Company otherwise consents in writing to an alternative withholding method, the Company, or
if applicable, any Subsidiary (for purposes of this Section 25, the term “Company” shall be deemed
to include any applicable Subsidiary) shall have the right to deduct from all amounts paid in cash or other form in connection
with this Agreement any federal, state, local, or other taxes required by law to be withheld in connection with this Agreement.
The Company, except as provided below, shall withhold the number of shares to be delivered upon the conversion of the Awarded
Units with an aggregate Fair Market Value that equals (but does not exceed) the amount of any federal, state, local, or other
taxes required by law to be withheld in connection with this Agreement. However, if the Grantee is a “specified employee”
as defined in §1.409A-1(i) of the Final Regulations under Section 409A of the Code who is subject to the six (6) months delay
provided for in Section 24 above, the Company shall withhold the number of shares attributable to the employment taxes
on the date of the Grantee’s Termination of Service and withhold the number of shares attributable to the income taxes on
the date which occurs six (6) months following the date of the Grantee’s Termination of Service (or, if earlier, the date
of death of the Grantee).

 

    	7

    	 

    

 

The
Company shall, prior to the date of conversion, permit the Grantee receiving shares of Common Stock upon conversion of Awarded
Units to pay the Company the amount of any taxes that the Company is required to withhold in connection with the Grantee’s
income arising with respect to this Agreement. Such payments shall be required to be made prior to the delivery of any certificate
representing shares of Common Stock. Such payment for tax withholding, may be made by (i) the delivery of cash to the Company
in an amount that equals or exceeds (to avoid the issuance of fractional shares under (iii) below) the required tax withholding
obligations of the Company; (ii) if the Company, in its sole discretion, so consents in writing, the actual delivery by the Grantee
to the Company of shares of Common Stock that the Grantee has not acquired from the Company within six (6) months prior to the
date of conversion, which shares so delivered have an aggregate Fair Market Value that equals or exceeds (to avoid the issuance
of fractional shares under (iii) below) the required tax withholding payment; (iii) if the Company, in its sole discretion, so
consents in writing, the Company’s withholding of a number of shares to be delivered upon the conversion of the Awarded
Units, which shares so withheld have an aggregate Fair Market Value that equals or exceeds the required tax withholding payment,
but in no event is greater than, the maximum permitted tax withholding amount taking into account all applicable taxes; or (iv)
any combination of (i), (ii), or (iii). The Company may, in its sole discretion, withhold any such taxes from any other cash remuneration
otherwise paid by the Company to the Grantee.

 

26.
Registration Covenant. The Company covenants and agrees to file a registration statement under the Securities Act on Form
S-8, subject to requirements under Applicable Law, with respect to this Agreement and the Awarded Units granted hereunder as soon
as administratively practicable following the Date of Grant. Such registration shall be maintained for as long as the Awarded
Units may be converted into Common Stock hereunder.

 

[Remainder
of Page Intentionally Left Blank

Signature
Page Follows.]

 

    	8

    	 

    

 

IN
WITNESS WHEREOF, the Company has caused this Agreement to be executed by its duly authorized officer, and the Grantee, to evidence
his consent and approval of all the terms hereof, has duly executed this Agreement, as of the date specified in Section 1
hereof.

 

	 	COMPANY:
	 	 	 
	 	INSPIREMD,
    INC.
	 	 	 
	 	By:	/s/
    Craig Shore
	 	Name:	Craig
    Shore
	 	Title:	Chief
    Financial Officer

 

	 	GRANTEE:
	 	 	 
	 	/s/ Marvin Slosman
	 	Signature
	 	 
	 	Name:	Marvin
    Slosman
	 	Address:	XXX

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