Document:

Exhibit 10.11

 

Consulting
and Services Agreement

 

This
agreement (the “Agreement”) is entered into as of this  16 day of February 2016 (the "Effective
Date") between Therapix Biosciences Ltd. with principal offices at 5 Azrieli Center, 27th floor, Tel-Aviv 67025,
Israel and its subsidiaries (the "Company") and Dr. Ascher Shmulewitz, of __________ (“Dr.
Shmulewitz”).

 

		Whereas	the
                                         Company is a public company whose securities are traded on the Tel-Aviv Stock Exchange;
                                         and

 

		Whereas	the
                                         Company wishes to retain services from Dr. Shmulewitz and Dr. Shmulewitz wishes to render
                                         such services to the Company, as further set forth herein; and

 

		Whereas	Dr.
                                         Shmulewitz represents that it has the required knowledge, ability, talent and experience
                                         to provide services to the Company, all as detailed and pursuant to the terms set forth
                                         herein.

 

Now,
therefore, the parties have agreed as follows:

 

	1.	Services

 

		1.1	Commencing
                                         as of  3/24/2014 (the “Effective Date”), Dr. Shmulewitz shall be engaged
                                         with the Company as a Chairman of the Board of Directors (the “Position”
                                         and "the Board", respectively) and shall perform such duties and activities
                                         as are customarily performed by a Chairman of the Board of Directors of a company (the
                                         "Services"). 

 

		1.2	Dr.
                                         Shmulewitz shall report directly to the Company's Board.

 

		1.3	The
                                         scope of the Services shall be determined by the Company's Board from time to time, according
                                         to the Company’s needs.

 

		1.4	Dr.
                                         Shmulewitz shall immediately notify the Company's Board regarding any matter it has and/or
                                         may have a personal interest in which may affect the rendering of the Services.

 

		1.5	Dr.
                                         Shmulewitz shall perform the Services diligently and promptly for the sole benefit of
                                         the Company. Dr. Shmulewitz shall competently perform all assigned duties, carry out
                                         the policies, directives and decisions of the Board, as required, not withhold information
                                         from the Company and refrain from any conduct which is illegal, dishonest, fraudulent
                                         or detrimental to the Company's business.

 

		1.6	Dr.
                                         Shmulewitz shall devote his attention, know-how, energy, talent, experience and best
                                         efforts to the performance of the Services under this Agreement and the business and
                                         affairs of the Company. Dr. Shmulewitz shall be engaged in the Position on a part-time
                                         basis, such that Dr. Shmulewitz shall devote 60% (sixty percent) of his working time
                                         to the business and affairs of the Company and the performance of his duties and obligations
                                         hereunder.

 

	2.	Representations and Warranties

 

		2.1	Dr.
                                         Shmulewitz hereby represents, warrants and covenants to the Company, and acknowledges
                                         that the Company is entering into this Agreement in reliance thereon, as follows:

 

		2.2	Dr.
                                         Shmulewitz has the necessary skills, knowledge and experience to fulfill Dr. Shmulewitz's
                                         obligations hereunder, shall do so diligently, professionally and conscientiously and
                                         shall use his best efforts in the performance thereof.

 

    	 		 

     

    

 

		2.3	The
                                         execution and delivery of this Agreement and the fulfillment of the terms hereof will
                                         constitute the valid, binding and enforceable obligations of Dr. Shmulewitz and will
                                         not violate, conflict with or constitute a default under or breach of any agreement and/or
                                         undertaking and/or instrument, judgment, order, writ or decree to which Dr. Shmulewitz
                                         is a party or by which he is bound, or any provision of law, rule or regulation applicable
                                         to Dr. Shmulewitz, including without limitation, any confidentiality or non competition
                                         agreement, and do not require the consent of any person or entity. In the performance
                                         of Dr. Shmulewitz's obligations hereunder, Dr. Shmulewitz will not make use of (i) any
                                         confidential or proprietary information belonging to any third party, or (ii) any information
                                         which Dr. Shmulewitz is restricted from disclosing or using due to contractual undertakings
                                         or by law. Dr. Shmulewitz hereby represents and warrants that he has obtained all approvals
                                         necessary by third parties with respect to his the execution, delivery and performance
                                         of this Agreement.

 

		2.4	In
                                         the performance of Dr. Shmulewitz's duties hereunder, Dr. Shmulewitz shall comply with
                                         all applicable laws and regulations, including, inter alia, the Company Internal Compliance
                                         Plan (as defined below).

 

		2.5	Dr.
                                         Shmulewitz's will refrain from engaging in any business or other activity which may be
                                         of conflict of interest with Dr. Shmulewitz's duties and obligations hereunder, and shall
                                         promptly notify the Company of any such matter or activity.

 

	3.	Term

 

		3.1	This
                                         Agreement shall commence on the date hereof and shall remain in full force and effect
                                         (the “Term”) unless terminated, for any reason, with a ninety (90)
                                         days prior written notice (the "Notice Period") by one party to the
                                         other.

 

		3.2	During
                                         the Notice Period Dr. Shmulewitz shall continue providing the Services and be entitled
                                         to the Monthly Fee (as defined below). Nevertheless, the Company may, under its sole
                                         discretion, waive retaining the Services during the Notice Period, in whole or in part,
                                         subject to paying Dr. Shmulewitz the Monthly Fee, had it continued providing the Services
                                         until the end of the Notice Period.

 

		3.3	Notwithstanding
                                         anything to the contrary herein, the Company may terminate this Agreement at any time,
                                         and without derogating from any other remedy to which the Company may be entitled, for
                                         Cause (as hereinafter defined), by providing Dr. Shmulewitz written notice thereof. In
                                         such event, this Agreement shall be deemed effectively terminated as of the date of delivery
                                         of such notice.
	 	 	 
	 	 	The
term “Cause” shall mean, but shall not be limited to: (i) a breach by Dr. Shmulewitz of any of the material
terms or conditions of this Agreement, including but not limited to Sections 6 and 7 below; or (ii) Dr. Shmulewitz's willful misconduct,
or action of personal dishonesty, bad faith or breach of trust towards the Company or any of its subsidiaries and/or affiliates;
or (iii) the commission by Dr. Shmulewitz of a criminal offense, or fraud against the Company and/or any of its subsidiaries and/or
affiliates; or (iv) a violation by Dr. Shmulewitz of its fiduciary duties towards the Company.

 

		3.4	Upon
                                         any the termination of this Agreement and subject to paying the applicable Monthly Fee
                                         and final account to Dr. Shmulewitz, Dr. Shmulewitz shall immediately provide the Company
                                         all written, electronic and other records of Company in its possession, in a form reasonably
                                         requested by Company. During the Notice Period, Dr. Shmulewitz shall provide all necessary
                                         consultations, hand-off and instructions services to any replacement of Dr. Shmulewitz
                                         hired by Company.

 

	4.	Consideration

 

		4.1	As
                                         full and complete consideration for the Services, the Company shall pay to Dr. Shmulewitz
                                         monthly fees for the Services in an amount of NIS 50,000 plus VAT for each month
                                         (the “Monthly Fee”).

 

		4.2	The
                                         Monthly Fee will be paid at within 10 days of the end of each calendar month as a wire
                                         transfer, against a proper tax invoice of Dr. Shmulewitz.

 

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		4.3	Company
                                         shall reimburse Dr. Shmulewitz for all out-off pocket expenses reasonably required in
                                         the performance of the Services by Dr. Shmulewitz under this Agreement and approved in
                                         advance by the Company. Reimbursement shall be made against delivery by Dr. Shmulewitz
                                         to the Company of tax receipts or other appropriate supporting documentation satisfactory
                                         to the Company.

 

		4.4	Option.
                                         

 

		4.5.1.	Subject
                                         to (i) the sole discretion and approval of the Company's Board of Directors (the "Board"),
                                         the shareholders of the Company and any applicable Company organs, law or regulation,
                                         to the extent applicable (ii) the Company's Compensation Policy then in effect, and (iii)
                                         the execution by Dr. Shmulewitz of a standard option agreement in a form approved by
                                         the Board under the Employee Share Option Plan (the "Plan"), Dr. Shmulewitz
                                         shall be granted with an option to purchase up to 250,000 Ordinary Shares of the Company,
                                         par value NIS 0.01, each under the Plan (the “Option”). The Option
                                         be subject to the provisions of the Plan and shall vest over a 3 year period, on a quarterly
                                         basis.

 

Subject
to the obtainment of all regulatory and corporate approvals, the exercise price of the Option shall be in accordance with the
provisions of Company's Compensation applicable to such determination of exercise price.

 

		4.5.2.	The
                                         grant of the Option shall be subject to the obtainment by the Company of all (i) applicable
                                         corporate approvals, including, without limitation, approvals by the Board and the shareholders
                                         of the Company; and (ii) completion of appropriate filings with and obtainment of the
                                         required approvals of the Israeli Securities Authority and/or the Tel Aviv Stock Exchange
                                         (and the OTCQB, if required).

 

		4.5.3.	In
                                         case a regulatory approval (if indeed shall be required) is not obtained, for reasons
                                         beyond the Company’s control, this shall not be considered to be a breach by the
                                         Company of this agreement, Dr. Shmulewitz shall not hold any demand, allegations or claims
                                         against the Company in connection with the Company's failure to obtain such regulatory
                                         approval.

 

		4.5.4.	Nothing
                                         herein shall be construed as an obligation to grant any options to Dr. Shmulewitz.

 

		4.5	Annual
                                         Bonus. At the end of each calendar year, the Company, at its sole discretion, may
                                         consider granting Dr. Shmulewitz a bonus, of up to six Monthly Fees, subject to the recognition
                                         of the Board of the successful achievement of Company measureable objectives as shall
                                         be set forth in the Company's annual work plan determined by the Board.

 

		4.6	Dr.
                                         Shmulewitz shall be solely responsible and shall make all compulsory payments in connection
                                         with the Services provided hereunder. Said payments shall include, without limitation,
                                         income tax, National Insurance, severance, and any and all other payments to any governmental
                                         or other relevant authority in connection with the Services.

 

		4.7	Dr.
                                         Shmulewitz shall be solely responsible for any tax and other payments required by law
                                         in connection with this Agreement and the payment or remittance of any portion of the
                                         Consulting Fee hereunder, provided, however, that the Company may withhold any amounts
                                         as required by applicable law from any payments or other forms of compensation hereunder
                                         or in connection with this Agreement.

 

		4.8	Dr.
                                         Shmulewitz shall not be entitled to receive any other compensation or payment from the
                                         Company other than as expressly stated in this section 4.

 

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	5.	Insurance; Indemnification and Exemption

 

		5.1	The
                                         Company shall insure Dr. Shmulewitz under the Company's officers’ insurance policy,
                                         in accordance with its terms.

 

		5.2	Subject
                                         to the obtainment of all corporate and regulatory approvals, to the extent required,
                                         Dr. Shmulewitz shall be entitled to exemption and indemnification in connection with
                                         the performance of the Services hereunder, in accordance with the Exemption and Indemnification
                                         Letters in the forms previously approved by the Board.

 

	6.	Proprietary Rights 

 

		6.1	Dr.
                                         Shmulewitz agrees and declares that any and all products, improvements, derivations,
                                         materials, processes, techniques, know-how and/or proceeds and any and all inventions,
                                         ideas, discoveries, concepts, works of authorship, designs, data results or initiatives
                                         conceived, conducted, developed, reduced to practice, compiled, created, written, authored,
                                         made and/or produced by Dr. Shmulewitz, alone or jointly with others, pursuant to, in
                                         connection with, resulting or arising from this Agreement and/or the provision of the
                                         Services to the Company, or trade secrets of the Company, whether within the scope of
                                         the provision of the Services hereunder to the Company or otherwise and whether during
                                         the Term of this Agreement, prior thereto or thereafter, directly or indirectly related
                                         to the technology of the Company as currently conducted and/or proposed to be conducted
                                         solely in the field of immunomodulators including cannabinoids to treat chronic pain
                                         and inflammation (the "Inventions") and any and all right, title and
                                         interest in and to the Inventions, including without limitation, all patents, copyrights,
                                         trademarks, trade names, moral rights and other intellectual, industrial and/or proprietary
                                         rights and applications, extensions and renewals thereof (together with the Inventions,
                                         the "Proprietary Rights"), shall be the sole and exclusive property
                                         of the Company, its successors and assigns (for the purpose of this Section 6, collectively,
                                         the "Company"), and that Dr. Shmulewitz will not have any rights or
                                         title whatsoever thereto, including, although not an employee, any right to receive compensation
                                         pursuant to Section 134 of the Israeli Patent Law - 1967. All works authored by Dr. Shmulewitz
                                         pursuant to this Agreement, including, without limitation, the Inventions, shall be deemed
                                         "works made for hire".

 

		6.2	If
                                         and to the extent the Company’s sole and exclusive ownership of the Proprietary
                                         Rights, in whole or in part, is not recognizable for any reason whatsoever, Dr. Shmulewitz
                                         hereby irrevocably transfers and assigns to the Company, solely and exclusively, all
                                         its/his rights, title and interest now and hereafter acquired in and to all Proprietary
                                         Rights (without any payments, liabilities or restrictions to any person or third party)
                                         in any and all media now known or hereafter devised, and all claims and causes of action
                                         of any kind with respect to any of the foregoing, throughout the world in perpetuity,
                                         and, when not otherwise assignable herein, agrees and undertakes to assign in the future
                                         to the Company all right, title and interest in and to any and all such Proprietary Rights
                                         (and all proprietary rights with respect thereto) and further undertakes to execute all
                                         necessary documentation and take all further action as may be required in order to perform
                                         such assignment, at the Company’s expense.

 

		6.3	In
                                         the event that pursuant to any applicable law Dr. Shmulewitz retains any rights in and
                                         to the Proprietary Rights that cannot be assigned to the Company, Dr. Shmulewitz hereby
                                         unconditionally and irrevocably waives the enforcement of all such rights, and all claims
                                         and causes of action of any kind with respect to any of the foregoing and agrees, at
                                         the request and expense of the Company, to consent to and join in any action to enforce
                                         such rights and to procure a waiver of such rights from the holders of such rights, if
                                         any.

 

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		6.4	In
                                         the event that Dr. Shmulewitz retains any rights in and to Proprietary Rights that cannot
                                         be assigned to the Company and cannot be waived, Dr. Shmulewitz hereby grants the Company
                                         an exclusive, perpetual, worldwide, royalty-free license to exploit, use, develop, perform,
                                         modify, change, reproduce, publish and distribute, with the right to sublicense and assign
                                         such rights, and all claims and causes of action of any kind with respect to any of the
                                         foregoing, in and to the Proprietary Rights, in any way the Company sees fit and for
                                         any purpose whatsoever. Without derogating from the above, Dr. Shmulewitz hereby forever
                                         waives and agrees never to assert any and all rights of paternity or integrity, any right
                                         to claim authorship of any Invention, to object to any distortion, mutilation or other
                                         modification of, or other derogatory action in relation to any Invention, whether or
                                         not such would be prejudicial to his honor or reputation, and any similar right, existing
                                         under judicial or statutory law of any country in the world, or under any treaty, even
                                         after termination of its/his work on behalf of the Company.

 

		6.5	Without
                                         derogating from the above, any and all material (including, without limitation, software,
                                         designs, documentation, memoranda, notes, reports, manuals, patterns, programs, specifications,
                                         prototypes, formulas, drawings, records, data or other technical or proprietary information),
                                         and any copies or abstracts thereof, whether or not of a secret or confidential nature,
                                         furnished to Dr. Shmulewitz by the Company or conceived, conducted, developed, reduced
                                         to practice, compiled, created, written, authored, made and/or produced by Dr. Shmulewitz,
                                         alone or jointly with others, pursuant to, in connection with, resulting or arising from
                                         this Agreement and/or the provision of Services to the Company, or trade secrets of the
                                         Company, whether within the scope of the consultancy with the Company or otherwise and
                                         whether during the Term of this Agreement, prior thereto or thereafter, directly or indirectly
                                         related to the business of the Company as currently conducted and/or proposed to be conducted,
                                         is and shall remain the sole and exclusive property of the Company. Such property while
                                         in Dr. Shmulewitz's custody or control, as applicable, shall be maintained in good condition
                                         at Dr. Shmulewitz's expense, as applicable.

 

		6.6	Dr.
                                         Shmulewitz will promptly disclose to the Company fully and in writing (but otherwise
                                         keep in confidence) all Inventions. Dr. Shmulewitz hereby agrees and undertakes to provide
                                         the Company or any person designated by the Company all such information, to execute
                                         all necessary documentation and to take all further action as may be required to perfect
                                         the rights referred to herein, including, without limitation, any assignment of rights
                                         to the Company or the obtaining or enforcing any intellectual property rights, if applicable,
                                         in any and all countries, provided, that the Company will compensate Dr. Shmulewitz at
                                         a reasonable rate for time or expenses actually spent by him at the Company’s request
                                         on such assistance. Without derogating from any of Dr. Shmulewitz's obligations hereunder,
                                         Dr. Shmulewitz hereby appoints any officer of the Company as its duly authorized agent
                                         to execute, file, prosecute and protect the same before any government agency, court
                                         or authority.

 

		6.7	Dr.
                                         Shmulewitz's undertakings in this Section 6 shall remain in full force and effect after
                                         termination or expiration of this Agreement for any reason whatsoever or any renewal
                                         thereof.

 

	7.	Confidentiality 

 

		7.1	Dr.
                                         Shmulewitz represents and warrants that it will keep the terms and conditions of this
                                         Agreement strictly confidential and will not disclose it or provide a copy of this Agreement
                                         or any part thereof to any third person unless and to the extent required by applicable
                                         law.

 

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		7.2	Any
                                         and all information and data of a proprietary or confidential nature concerning the business
                                         or financial activities of the Company or its technology or products (whether current
                                         or future), whether in oral, written, graphic, machine-readable form, or in any other
                                         form, including, without limitation, proprietary, business, financial, technical, development,
                                         product, marketing, sales, price, operating, performance, cost, know-how and process
                                         information, trade secrets, patents, patent applications, copyrights, ideas and inventions
                                         (whether patentable or not), and all record bearing media containing or disclosing such
                                         information and techniques, disclosed to or otherwise acquired by Dr. Shmulewitz ant
                                         in connection with this Agreement and any and all Proprietary Rights (collectively, "Confidential
                                         Information") is and shall remain the sole and exclusive property of the Company.

 

		7.3	At
                                         all times, both during the term of this Agreement and thereafter, Dr. Shmulewitz: (i)
                                         will keep the Confidential Information strictly confidential and will not disclose it,
                                         or any part thereof, provide any documentation with respect thereto, or any part thereof,
                                         directly or indirectly, to any third party, without the prior written consent of the
                                         Company or unless and to the extent required by applicable law; and (ii) will not use
                                         any Confidential Information or anything relating to it without the prior written consent
                                         of the Company, except and to the extent as may be necessary in the ordinary course of
                                         performing his duties and obligations hereunder and in the best interests of the Company.
                                         Notwithstanding the foregoing, Dr. Shmulewitz shall not be obligated to maintain the
                                         confidentiality of the Confidential Information which: (i) is or becomes a matter of
                                         public knowledge through no fault of Dr. Shmulewitz, or breach of this Agreement; (ii)
                                         is authorized, in writing, by the Company for release; (iii) was lawfully in Dr. Shmulewitz's
                                         possession before receipt from the Company, as evidenced by Dr. Shmulewitz, as the case
                                         may be, through written documentation; (iv) is lawfully received by Dr. Shmulewitz from
                                         a third party without a duty of confidentiality; or (v) reflects information and data
                                         generally known within the industries or trades in which the Company transacts business.

 

		7.4	At
                                         all times, both during the term of this Agreement and thereafter Dr. Shmulewitz will
                                         keep in trust all Confidential Information. In the event of the termination of this Agreement
                                         for any reason, or upon the Company’s earlier request, Dr. Shmulewitz will promptly
                                         deliver to the Company all materials referred to herein and Dr. Shmulewitz shall not
                                         retain or take any materials, or any reproduction thereof containing or pertaining to
                                         Confidential Information.

 

		7.5	Dr.
                                         Shmulewitz recognizes that the Company received and will receive confidential or proprietary
                                         information from third parties, 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.
                                         At all times, both during the Term of this Agreement and after its termination, Dr. Shmulewitz
                                         undertakes to keep any and all such information in strict confidence and trust, and it
                                         will not use or disclose any of such information without the prior written consent of
                                         the Company, except as may be necessary to perform his duties hereunder and consistent
                                         with the Company’s agreement with such third party. Upon termination of this Agreement,
                                         Dr. Shmulewitz shall act with respect to such information as set forth in Section 3.4.

 

	8.	Non Competition

 

		8.1	Dr.
                                         Shmulewitz agrees and undertakes that he will not, during the Term of this Agreement
                                         and for a period of 6 months thereafter, compete or assist others to compete, whether
                                         directly or indirectly, with the business of the Company, as currently conducted and/or
                                         proposed to be conducted.

 

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		8.2	Dr.
                                         Shmulewitz agrees and undertakes that during the Term of this Agreement and for a period
                                         of 6 months thereafter, he will neither solicit for employment or any other engagement
                                         nor employ or otherwise engage any person employed by the Company on the date of such
                                         termination or during the preceding 6 months, personally or in any business in which
                                         he is an officer or director, for any purpose or in any place, provided that the foregoing
                                         restriction shall not apply to employment or engagement of an employee: (i) following
                                         an employee’s affirmative response to a general recruitment effort carried out
                                         through a public solicitation or general solicitation, or (ii) upon an employee’s
                                         initiative.

 

		8.3	If
                                         any one or more of the terms contained in Sections ‎8.1 and ‎8.2 shall, for any
                                         reason, be held to be excessively broad with regard to time, geographic scope or activity,
                                         such term shall be construed in a manner to enable it to be enforced to the extent compatible
                                         with applicable law.

 

	9.	Compensation Policy

 

		9.1	Dr.
                                         Shmulewitz declares and confirms, that he is familiar and aware that the Company has
                                         adopted a compensation policy pursuant to the provisions of the Companies Law 5759-1999
                                         (the "Compensation Policy", and the "Law", respectively),
                                         and that the terms of this Agreement are subject to and shall be aligned with the provisions
                                         and guidelines of the Compensation Policy in force, and as shall be determined from time
                                         to time. Copy of the Compensation Policy is attached hereto as an integral part of this
                                         Agreement.

 

		9.2	In
                                         the event that this Agreement and/or any of its provisions shall be proclaimed and/or
                                         considered by a competent authority not aligned with the Compensation Policy and not
                                         in accordance with the provision of the Law ("Contradicting Term"),
                                         then the Parties shall cooperate to adjust any Contradicting Term with the Compensation
                                         Policy or to be approved by the Company’s relevant organs, as per the Parties consent
                                         and in accordance with applicable law and regulations.

 

		9.3	Without
                                         derogating from Dr. Shmulewitz's rights under this Agreement, in the event that the abovementioned
                                         adjustment is not possible or achievable under the circumstances, Dr. Shmulewitz shall
                                         not hold any demand, allegations or claims against the Company, in the event the Company
                                         cannot make the necessary adjustment for reasons beyond the Company’s control.

 

		9.4	Without
                                         derogating from the provisions of the Compensation Policy, to the extent that any amount
                                         or fees paid to Dr. Shmulewitz hereunder shall be revealed, within three (3) years of
                                         the payment thereof, to have been paid based on erroneous calculations that have been
                                         restated in the Company's financial statements, Dr. Shmulewitz shall repay the Company
                                         amount paid in excess as aforesaid; all in accordance with the provisions of the Compensation
                                         Policy.

 

	10.	Independent Contractor

 

		10.1	The
                                         parties agree that Dr. Shmulewitz shall act as an independent contractor in the performance
                                         of the Services and that nothing contained herein shall create or be construed to create
                                         an employer-employee relationship between the parties and Dr. Shmulewitz shall not be
                                         entitled to any Company employment rights or benefits.

 

		10.2	Without
                                         derogating from the above, in the event that, notwithstanding the parties’ representations
                                         and undertakings hereunder, Dr. Shmulewitz, or anyone on its behalf, shall claim, or
                                         a court of competent jurisdiction shall determine, the existence of employer-employee
                                         relationship between Dr. Shmulewitz and the Company, then the following provisions shall
                                         apply: (i) Dr. Shmulewitz's monthly salary for such claimed or determined period of employer-employee
                                         relationship shall be equal to 60% (sixty percent) of the sum of the Monthly Fee and
                                         expenses reimbursement due to Dr. Shmulewitz as consideration for the Services hereunder
                                         (for the purposes of this Section ‎10, the “Monthly Salary”);
                                         (ii) the Monthly Salary shall be deemed to constitute all of the Company’s liabilities
                                         and obligations towards Dr. Shmulewitz, of any source or origin, with respect to and
                                         in connection with said employer-employee relationship, except for such rights with respect
                                         to which global compensation may not be determined pursuant to applicable law, (iii)
                                         Dr. Shmulewitz will immediately pay the Company all amounts paid to it beyond the sums
                                         calculated as stated in paragraph (i) above, and (iv) Dr. Shmulewitz shall be liable
                                         to fully indemnify the Company for any damages, liabilities, or other costs and expenses
                                         incurred in connection with any such determination.

 

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		10.3	The
                                         Company shall be entitled to set-off any amount due to it pursuant to this Section ‎10
                                         from any amount due to Dr. Shmulewitz pursuant to this Agreement.

 

		10.4	Dr.
                                         Shmulewitz hereby undertakes to indemnify, defend, hold harmless and reimburse the Company,
                                         its officers, agents, employees, representatives, successors and assigns against any
                                         claim, liability, loss and expense, including reasonable attorneys fees, arising from
                                         any suit, cause of action, demand or claim brought by any person or entity (including
                                         related costs and expenses) due to taxes, payment or withholding, wages, premiums, contributions
                                         social security payments, pension payments, employee benefits, health insurance and any
                                         other such payments resulting from any payment made by the Company to Dr. Shmulewitz
                                         under this Agreement, or otherwise in connection herewith.

 

	11.	Securities Internal Compliance Plan; Insider Trading
Policy

 

Dr.
Shmulewitz declares and confirms, that he is familiar and aware that the Company has adopted a Securities Internal Compliance
Plan (the "Internal Compliance Plan"), and are familiar with its terms, obligations and restrictions, and shall
act in accordance with the provisions and guidelines of the Internal Compliance Plan in force, and as shall be determined from
time to time.

 

	12.	Miscellaneous

 

		12.1	The
                                         provisions of Sections 4.5, 4.6, 6 through 8, 10 above and ‎13.2 below shall survive
                                         the termination of this Agreement for any reason whatsoever.

 

		12.2	This
                                         Agreement shall be governed by the laws of the State of Israel and the competent courts
                                         in Tel-Aviv shall have exclusive jurisdiction in all matters pertaining or relating thereto.

 

		12.3	This
                                         Agreement is for the services of Dr. Shmulewitz and none of the Services to be provided
                                         by Dr. Shmulewitz hereunder may be delegated, assigned or subcontracted to others without
                                         the prior written consent of the Company, in each case. Dr. Shmulewitz shall not be entitled
                                         to bind the Company for any purposes unless specifically authorized by the Company in
                                         writing in advance.

 

		12.4	This
                                         Agreement constitutes the entire agreement between the parties and supersedes all previous
                                         agreements and understandings, hereto, whether oral or written, express or implied, with
                                         respect to the subject matter contained in this Agreement.

 

		12.5	No
                                         provision of this Agreement may be modified, waived or discharged unless such waiver,
                                         modification or discharge is agreed to in writing and signed by Dr. Shmulewitz and the
                                         Company. No delay or failure by either party hereto at any time to act with respect to
                                         any breach or default by the other party of, or compliance with, any condition or provision
                                         of this Agreement to be performed by such other party shall be deemed a waiver of similar
                                         or dissimilar provisions or conditions at the same or at any prior or subsequent time.

 

		12.6	All
                                         notices required to be delivered under this Agreement shall be effective only if in writing
                                         and shall be deemed received upon the earlier of: (i) if sent by facsimile or email,
                                         upon transmission and electronic or other confirmation of receipt or (if transmitted
                                         and received on a non-business day) on the first business day following transmission
                                         and electronic or other confirmation of receipt, (ii) five (5) days after the date of
                                         mailing if mailed by registered mail to the addresses set forth above; and (iii) if sent
                                         by messenger, upon delivery.

 

		12.7	The
                                         execution, delivery and performance of this Agreement is subject to the obtainment of
                                         all applicable corporate and regulatory approvals, if and to the extent necessary.

 

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    	 	8	 

     

    

 

IN
WITNESS WHEREOF, the parties hereto have executed this Agreement as of the Effective Date.

 

	/s/ Therapix
    Biosciences Ltd.	 	/s/ Dr.
    Shmulewitz
	Therapix Biosciences Ltd.	 	Dr. Shmulewitz
	 	 	 	 	 
	By: 	 	 	By: 	 
	Title: 	 	 	Title: 	 

 

    	 		 

     

    

1st Addendum
of Consulting and Services Agreement

 

This
1st addendum (this “Addendum”) is made and entered
into on this  17 day of April, 2016, by and between Therapix Biosciences Ltd., a public company organized under the laws
of the State of Israel, with principal offices at 5 Azrieli Center, 27th floor, Tel-Aviv 67025, Israel and its subsidiaries (the
“Company”), Dr. Ascher Shmulewitz, of Yoav 20 Steet, Tel-Aviv
6908158, Israel (“Dr. Shmulewitz” or the “Consultant”), and Medgenesis Partners Ltd., a
private company organized under the laws of the State of Israel, incorporation number 513054064, with principal offices at Yoav
20 Steet, Tel-Aviv 6908158, Israel (the “Management Co.”).

 

The
Company, the Consultant, and the Management Co. may be referred to collectively as the “Parties” and each as
a “Party”.

 

		Whereas	the
                                         Company and the Consultant have entered into an Consulting and Services Agreement, dated
                                         February 16, 2016 (the “Agreement”),
                                         which is incorporated to this Addendum as an integral part thereof as Schedule
                                         A; and

 

		Whereas	the
                                         Consultant wishes to assign the Agreement to the Management Co., and the Management Co.
                                         wishes and accepts such assumption of the Agreement, and to assume all rights and obligations
                                         under the Agreement as further set forth herein in this Addendum (the “Assignment”);
                                         and

 

		Whereas	the
                                         Company agrees to the Assignment, subject to the terms and conditions as further set
                                         forth herein in this Addendum.

 

NOW
THEREFORE, in consideration of the mutual promises contained herein, and intending to be legally bound, the parties hereby
declare and agree as follows:

 

	1.	Capitalized
                                         terms used and not otherwise defined herein shall bear the respective meanings ascribed
                                         to them in the Agreement.

 

	2.	Preamble.
                                         The preamble of this Addendum constitutes an integral part thereof.

 

	3.	Assignment.
                                         Consultant hereby assigns the Management Co. the Agreement, the rights and obligations
                                         contained in it, and the Management Co. hereby assumes all rights and obligations contained
                                         in it, and shall be considered in every respect the counterparty to the Agreement, as
                                         of February 16, 2016, except that The Consultant shall continue to render his services
                                         to the Company and the consulting services shall be provided solely by the Consultant,
                                         and by him alone personally.

 

	4.	Warranty
                                         and Representation. The Management Co. hereby warrants and represents to have the necessary
                                         means, permits and/or approvals to execute this Addendum, and will have for the duration
                                         of the Agreement the ability to render Services and shall cause for the Services to be
                                         rendered by the Consultant; The Management Co. and the Consultant hereby warrant and
                                         represent that this Addendum is made at their own will and at their request, to have
                                         received all corporate approvals required in order to facilitate and execute this Addendum
                                         and the Assignment, which were properly approved them, and that Consultant is the sole
                                         controlling shareholder of the Management Co.

 

	5.	The
                                         Agreement shall be adjusted mutate-mutandis. Immediately following the execution
                                         of this addendum, the provisions of the Agreement shall be adjusted in accordance with
                                         the necessary changes and amendments and be read in a manner to reflect said Assignment.

 

	6.	Indemnification.
                                         It is hereby clarified that the Assignment is not intended to impose the Company with
                                         any and/or additional cost, expense or liability of any kind whatsoever (directly or
                                         indirectly), and is not intended to cause any damage or to harm the Company in any way
                                         or to diminish any right the Company holds for receiving the Services from the Consultant
                                         under the Agreement. Any such additional cost, expense, liability, damage, expenses or
                                         harm of any kind caused as a result of the Assignment shall be immediately indemnified,
                                         ratified, relieved and/or cured by the Consultant and/or the Management Co., severely
                                         and jointly, solely for the benefit of the Company, and the Company shall be immediately
                                         compensated and indemnified for any such costs and/or damage incurred by the Company
                                         as a result of the Assignment, including without derogating the generality of the foregoing,
                                         with respect to tax implications and/or labor and employment issues.

 

	7.	The
                                         Agreement shall continue in full force and effect as originally constituted, subject
                                         to the changes and amendment required following the Assignment under this Addendum. Any
                                         contradiction in meaning and/or interpretation between the Agreement and this Addendum
                                         shall have the meaning and/or be interpreted in light of the Agreement.

 

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IN
WITNESS WHEREOF, the parties hereto have executed this Agreement as of the Effective Date.

 

	/s/
    Therapix Biosciences Ltd.	 	/s/
    Dr. Ascher Shmulewitz
	Therapix
    Biosciences Ltd.	 	Dr.
    Ascher Shmulewitz
	 	 	 	 	 

	By:
    	 	 	 	 
	Title:
    	 	 	 	 
	 	 	 	 	 

	 	 	 	/s/
    Medgenesis Partners Ltd.
	 	 	 	Medgenesis
    Partners Ltd.
	 	 	 	 	 

	 	 	 	By:
    	 
	 	 	 	Title:Exhibit 10.12

 

THERAPIX
BIOSCIENCES

 

Date:
______

 

To

Mrs./Mr.

 

Letter
of Indemnity

 

The
Company’s remuneration committee and the board of directors resolved on _______ and the Company’s general meeting
resolved on ______ to grant you this indemnity obligation, in the form acceptable in the Company with respect to Officeholders,
all as set forth in this Letter of Indemnity (hereinafter: “the Indemnity Resolution”).

 

Accordingly,
we hereby inform you that as you are currently serving and/or have been serving and/or may be serving in the future as an Officeholder
in the Company and/or any of its subsidiaries and/or affiliates and/or currently employed and/or were employed and/or may be employed
in the future by the Company and/or any of its subsidiaries and/or affiliates, the Company hereby acknowledges and undertakes
towards you, subject to the provisions of any law, as follows:

 

	1.	Indemnity
    Obligation

 

Subject
to the provisions of the law, the Company hereby undertakes to indemnify you for any liabilities or expenses, as set forth in
section 2 below, for which you will be held liable due to one or more of the following:

 

		(a)	Your
                                         acts and/or anything deriving therefrom by virtue of your employment and/or service as
                                         an Officeholder in the Company and/or any of its subsidiaries and/or affiliates, as applicable,
                                         from time to time.
	 	 	 
		(b)	Your
                                         acts and/or anything deriving therefrom by virtue of your service as an Officeholder,
                                         employee or agent of the Company for another corporation in which the Company directly
                                         and/or indirectly holds securities (hereinafter: “Another Corporation”).

 

Including
for any acts made by you prior to the granting date of this Letter of Indemnity, provided the maximum amount of such indemnity
does not exceed the Maximum Indemnity Amount set forth in section 3 below for all types of liabilities and/or expenses in the
aggregate and with respect to all of the Company’s Officeholders as a whole.

 

    

     

    

 

In
this Letter of Indemnity:

 

	 	“Officeholder”
    	-	as
    such term is defined in the Companies Law, 5759-1999, including any employee to whom the Company resolves to provide a Letter
    of Indemnity.
	 	 	 	 
	 	"Acts"
                                         or anything deriving therefrom"
	-	as
                                         such term is defined in the Companies Law, 5759-1999, including any resolution and/or
                                         omission as well as all act made by you prior to the date of this Letter of Indemnity
                                         during the terms in which you were employed by the Company and/or any of its subsidiaries
                                         and/or affiliates and/or during the terms in which you served as an Officeholder of the
                                         Company and/or any of its subsidiaries and/or affiliates and/or Another Corporation as
                                         defined above. 

 

	2.	Causes
                                         for Indemnity

 

The
indemnity obligation as set forth in section 1 above will apply to any liability or expense indemnifiable under the law and the
Articles of Association of the Company, as follows:

 

		2.1	Financial
                                         liability imposed on you in favor of another person pursuant to any judgment, including
                                         any settlement confirmed as judgment or an arbitrator's award which has been confirmed
                                         by the court, directly or indirectly connected to one or more of the Events set forth
                                         in the supplement to this Letter of Indemnity (hereinafter: “the Supplement”)
                                         or any part thereof (hereinafter: “Specified Events”), provided the
                                         Maximum Indemnity Amount for each of the Specified Events shall not exceed the amount
                                         stipulated in the Supplement, linked to the increase in the Consumer Price Index’s
                                         from the execution date of this Letter of Indemnity and until the actual indemnity date,
                                         for any of the Specified Events, on the basis of each Event and each of the Company's
                                         Officeholders separately (hereinafter: “the Final Liability”);

 

		2.2	Reasonable
                                         litigation expenses, including attorneys’ fees, expended by you pursuant to an
                                         investigation or proceedings conducted against you by a competent authority authorized
                                         to hold such investigation or bring such proceedings and which were concluded without
                                         an indictment filed against you and without imposing a financial liability on you in
                                         lieu of criminal proceedings, or which were concluded without filing an indictment against
                                         but with the imposition of financial liability in lieu of criminal proceedings for an
                                         offense which does not require proof of criminal thought (mens rea); in this paragraph:

 

"Conclusion
of proceedings without an indictment being filed in a matter for which a criminal investigation was commenced" - means
closing of the file in accordance with Section 62 to the Criminal Procedure Law [Combined Version], 5742-1982 (in this subsection
- "the Criminal Procedure Law"), or stay of proceedings by the Attorney General under Section 231 of the Criminal Procedure
Law;

 

"Financial
liability imposed in lieu of criminal proceedings" - means a financial liability imposed by law as an alternative to
criminal proceedings, including an administrative fine pursuant to the Administrative Offenses Law, 5746-1985, a fine for committing
an offense categorized as a finable offense pursuant to the provisions of the Criminal Procedure Law, monetary sanction or ransom.

 

    2

     

    

 

		2.3	Reasonable
                                         litigation expenses, including attorneys' fees, expended by you or charged to you by
                                         a court, in proceedings filed against you by the Company or on its behalf or by another
                                         person, or in a criminal charge from which you will be acquitted, or in a criminal charge
                                         of which you will be convicted for an offense which does not require proof of criminal
                                         thought (mens rea).

 

		2.4	Expenses
                                         expended by you in connection with administrative enforcement proceedings concerning
                                         you, including reasonable litigation expenses, including attorneys’ fees.

 

In
that regard:

 

“Administrative
enforcement proceedings” - any proceedings under Chapter H3, H4 or I1 of the Securities Law.

 

“The
Securities Law” - the Securities Law, 5728-1968, as amended from time to time.

 

		2.5	Payment
                                         to an Injured Party, as set forth in Section 52(54)(a)(1)(a) of the Securities Law (“Payment
                                         to an Injured Party”).

 

		2.6	Any
                                         other liabilities or expenses indemnifiable under the Companies Law.

 

Litigation
expenses as set forth in sections 2.2, 2.3 and 2.4 above, hereinafter: “the Litigation Expenses”.

 

	3.	Indemnity
    Amount

 

		3.1	Aggregate
                                         Indemnity Amount

 

The
total indemnity amount to be paid by the Company to all the Company’s Officeholders (including any employee to whom the
Company decides to grant a Letter of Indemnity) in the aggregate pursuant to all the Letters of Indemnity issued or as shall be
issued to them by the Company under the Indemnity Resolution (hereinafter: “ the Letters of Indemnity”) shall
not exceed an amount equivalent to 25% of the Company’s effective equity, plus all the amounts to be received from the insurance
company, if any, as part of the insurance for the Company’s Directors and Officeholders, taken out or to be taken out in
the future by the Company from time to time for the Final Liability and/or Litigation Expenses and/or Payment to an Injured Party
(hereinafter: “the Maximum Indemnity Amount”). For this purpose “the Company’s effective equity”
- means the amount of the Company’s equity as reflected in its recent consolidated financial statements as of the the payment
date of the Indemnity.

 

It
is hereby clarified that payment of the Indemnity Amount as aforesaid, shall not derogate from your entitlement to receive insurance
proceeds, including with reference to the Specified Events set forth in the Letter of Indemnity insured by an insurance company
which the Company may receive from time to time in your favor, if any, under any Directors & Officers Liability insurance
taken out by the Company.

 

    3

     

    

 

Without
derogating from the provisions of section 5.6 below, it is expressly emphasized that the Company’s payments shall only constitute
an “additional layer” above the total insurance proceeds to be paid by the insurer and/or above any indemnification
from any party other than the Company, to the extent such are paid, provided that you will not receive double compensation for
any liability or expense which is indemnifiable as set forth in section 2 above and that in the event you receive an indemnity
from the Company’s insurer under a Directors & Officers Liability policy or by virtue of any other indemnification agreement,
in the matter of the indemnity, the indemnity shall be provided in the amount of the difference between the amount of the Financial
Liability imposed on you and legal expenses and the amount received under the insurance policy or the other indemnification agreement
in this matter, provided the Indemnity Amount undertaken by the Company does not exceed the Maximum indemnity Amount. In addition,
it is emphasized that this indemnity obligation does not constitute a contract in favor of a third party, including any insurer
and may not be assigned, and the insurer shall not be entitled to demand any participation from the Company in the payment undertaken
by the insurer pursuant to the insurance agreement entered with the insurer, save for the deductible stipulated in such agreement.

 

To
the extent that the total Indemnity Amounts payable by the Company at any time, plus all the Indemnity Amounts already paid by
the Company prior to that date under the Letters of Indemnity, exceed the Maximum Indemnity Amount, then the Maximum Indemnity
Amount or the balance thereof, as the case may be, shall be distributed among the Company’s Officeholders entitled to such
Indemnity Amounts for demands made by them to the Company under the Letters of Indemnity and outstanding prior to such date, in
such manner that the actual Indemnity Amount received by each Officeholder shall be calculated pro rata, to the Indemnity Amount
due to each such Officeholders and the Indemnity Amount due to all such Officeholders in the aggregate, on that date, for their
demands.

 

If
the Company has paid Indemnity Amounts to the Company’s Officeholders in the sum of the Maximum Indemnity Amount, the Company
shall not be liable for any additional Indemnity Amounts, unless payment of the additional Indemnity Amounts is approved by the
Company’s competent organs authorized to duly approve such increase on the payment date of the additional Indemnity Amounts
and subject to an amendment of the Company’s Articles of Asosciation, if required under the law.

 

	 	3.2	The
    Indemnity Amount for Specified Events

 

Subject
to the aforesaid in section 3.1, the Indemnity Obligation for any of the Specified Events shall be limited, with reference to
each Officeholder in the Company and each Event severally, in the amount of the liability or expense indemnifiable as aforesaid,
but not beyond the Maximum Indemnity Amount with respect to each of the Specified Events.

 

    4

     

    

 

	4.	Interim
    Payments

 

Upon
the occurrence of any Event for which you may become entitled to indemnity in accordance with the above, the Company shall make
available to you, from time to time, the amounts of money required to cover the various expenses and other payments involved in
the handling of any legal proceedings against you in connection with such Event, including investigation proceedings, so that
you will not be required to pay or finance such amounts by yourself, all subject to the terms and conditions set forth in this
Letter of Indemnity. It is emphasized that the Company shall not demand any securities from you as condition for the transfer
of the above amounts.

 

In
the event that the Company has paid you, or in your stead, any amounts in the framework of this Letter of Indemnity in connection
with legal proceedings as aforesaid, and it is subsequently found that you were not entitled to any indemnity from the Company
for such amounts, the provisions of section 5.8 below shall apply.

 

	5.	Terms
    and Conditions of Indemnity

 

Without
derogating from the generality of the foregoing, the indemnity under this Letter of Indemnity is subject to the following terms
and conditions:

 

	 	5.1	Indemnity
    Notice

 

You
must notify the Company promptly about any legal proceedings and/or investigation by a competent authority, authorized to hold
such investigation or bring such proceedings, commenced or threatened against you in connection with any Event for which indemnity
may apply (collectively and severally referred to as: “the Proceedings”), immediately upon becoming aware of
such Proceedings for the first time (hereinafter: “the Indemnity Notice”) and deliver to the Company and/or
anyone directed by the Company any documents provided to you and/or in your possession in connection with these Proceedings.

 

Failure
to provide the Indemnity Notice as aforesaid shall not release the Company from any of its obligations under this Letter of Indemnity,
save where such non delivery of the Indemnity Notice materially affects the Company’s rights to defend a claim in its name
(where also the Company is sued in such Proceedings) and/or in your name and the scope of such damage.

 

	 	5.2	Defense
    Process

 

The
Company may assume the handling of your defense against the above Proceedings and/or empower an attorney to handle same to be
chosen by the Company for this purpose (except where such attorney is not acceptable to you based on reasonable grounds). The
Company and/or the said attorney shall act in the framework of the above Proceedings to conclude the same; the Attorney appointed
by the Company shall act and owe fiduciary duties towards you and the Company. In the event that during your defense against such
Proceedings a conflict of interests arises between you and the Company, the said attorney shall notify you of such conflict of
interests and you shall be entitled to appoint an attorney on your behalf to handle your defense and the provisions of this Letter
of Indemnity shall apply to any expenses which may be incurred by you as a result of such appointment of an attorney. The Company
shall not be entitled to conclude such Proceedings by means of settlement and/or arrangement and/or agree to any settlement and/or
arrangement which would result in an obligation on the part of the Company to pay amounts for which you would not be entitled
to indemnity under this Letter of Indemnity and for which such amounts would not be paid under any Directors & Officers Liability
insurance to be procured, if any, by the Company and/or any of its subsidiaries and/or affiliates and/or Another Corporation,
unless the Company has obtained your prior written consent for such settlement. Moreover, the Company may not resolve the dispute
which is the subject matter of such Proceedings by arbitration or mediation or reconciliation, without your prior written consent,
provided your consent shall not be withheld except for reasonable grounds to be provided by you to the Company in writing. For
the avoidance of doubt, the Company shall bear all the associated expenses, regardless of whether the dispute is referred for
settlement by way of arbitration or mediation or reconciliation or otherwise.

 

    5

     

    

 

Notwithstanding
the foregoing, the Company may not conclude such Proceedings by way of settlement and/or arrangement and/or resolve such Proceedings
by arbitration or mediation or reconciliation in case such involve criminal charges against you, unless you give the Company your
prior written consent. You may refuse to provide such consent as mentioned in this paragraph at your exclusive discretion and
without being required to provide the grounds for your refusal.

 

If
within 7 days after receipt of the Indemnity Notice by the Company, as aforesaid, the Company does not assume the handling of
your defense against these Proceedings, or in case you object the representation by the Company’s attorneys for reasonable
grounds or concern for potential conflict of interests, you may refer your representation to an attorney of your choosing and
the provisions of this Letter of Indemnity shall apply to any expenses incurred due to such appointment.

 

	 	5.3	Cooperation
    with the Company

 

At
the request of the Company, you shall sign any documents empowering the Company and/or any such attorney to handle your defense
against such Proceedings on your behalf and to represent you accordingly.

 

You
shall cooperate with the Company and/or any such attorney and comply with all insurers’ instructions under any Directors
& Officers Liability policy in which the Company and/or you may enter in connection with the defense against the above Proceedings,
in any reasonable manner as shall be demanded of you by any of the above as part of their handling of such Proceedings, provided
the Company or the insurance company, as the case may be, see to the covering of all your expenses in connection therewith, so
that you shall not be required to pay or finance such yourself, all subject to the provisions of section 1 and 3 above.

 

	 	5.4	Cover
    of Liabilities

 

Regardless
of whether the Company acts in accordance with the provisions of section 5.2 above or not, the Company shall see to the covering
of the liabilities and expenses as set forth in section 2 above, in such manner that you shall not be demanded to pay or finance
such yourself, all without derogating from the indemnity promised to you under the provisions of this Letter of Indemnity and/or
the insurance policy taken out by the Company from time to time, if any, all subject to the provisions of sections 1 and 3 above.

 

    6

     

    

 

	 	5.5	Indemnity
    shall not Apply in cases of Settlement or Admission

 

The
indemnity in connection with any Proceedings against you, as provided in this Letter of Indemnity, shall not apply to any amounts
due from you to a claimant as consequence of such settlement or arbitration, unless the Company agrees in writing to such settlement
or to conduct such arbitration, as the case may be; the Company, however, shall not withhold its consent other than for reasonable
grounds.

 

Furthermore,
the indemnity shall not apply in the event you admit a criminal charge for an offense which does not require proof of criminal
thought (mens rea), unless the Company has provided its prior written consent to such admission.

 

		5.6	Indemnity
                                         shall not Apply in cases of Third Party Indemnification or Insurance

 

The
Company shall not be required to pay any amounts under this Letter of Indemnity for any events whatsoever, to the extent such
amounts were actually paid to your or for you or on your behalf by any means in the framework of the Company’s Directors
& Officers Liability insurance, or any other third party indemnification other than the Company’s.

 

With
reference to the Company’s indemnity obligation for any prior or future acts by you by virtue of your being an Officeholder
and/or your employment by the Company and/or any subsidiary and/or affiliate and/or Another Corporation (collectively and severally
referred to as: “the Liable Corporation”) the following provisions shall also apply:

 

	 	(a)	The
                                         Company shall not be required to pay any amounts under this Letter of Indemnity which
                                         you shall become entitled to receive and actually receive from the Liable Corporation
                                         in the framework of an insurance policy made by the Liable Corporation and/or pursuant
                                         to an undertaking in advance to indemnify or under a permission to indemnify provided
                                         by the Liable Corporation.

 

	 	(b)	If your demand to
    receive indemnity and/or insurance coverage for any acts made by you by virtue of your service at the Liable Corporation which
    may be indemnifiable under this Letter of Indemnity is rejected by the Liable Corporation or the Liable Corporation’s
    insurance company, as the case may be, the Company shall pay you under this Letter of Indemnity amounts to which you may become
    entitled hereunder, if you become entitled to such amounts and you shall assign to the Company your rights to receive such
    amounts from the Liable Corporation and/or under the Liable Corporation’s insurance policy and authorize the Company
    to collect such amounts in your name, to the extent that such authorization is required for the purpose of complying with
    the provisions of this section. In this matter, you hereby undertake to sign any documents which may be demanded by the Company
    for assigning such rights and authorizing the Company to collect such amounts in your name.

 

    7

     

    

 

	 	(c)	For the avoidance
    of doubt, it is clarified that nothing in this Letter of Indemnity shall be interpreted as conferring upon the Liable Corporation
    and/or any third party any rights whatsoever towards the Company, including, without derogating from the generality of the
    aforesaid, the right to claim and/or demand any payment from the Company as participation in the indemnity and/or the insurance
    coverage afforded to your by the Liable Corporation for your acts in your capacity with the Liable Corporation.

 

	 	5.7	Payment
    of Indemnity

 

Upon
your request to receive any payment in connection with an Event under this Letter of Indemnity, the Company shall take all necessary
actions under the law to pay such amount and shall act to procure any required approval in this matter, if any. If an approval
for any such payment is required and such payment is not approved for any reason whatsoever, then such payment or any unapproved
part thereof, shall be subject to the approval of the court and the Company shall act to obtain such approval.

 

	 	5.8	Return
    of Indemnity Amounts Paid 

 

In
the event that the Company has paid you, or in your stead, any amounts in the framework of this Letter of Indemnity in connection
with Proceedings as aforesaid, and it is subsequently found that you were not entitled to any indemnity from the Company for such
amounts, such amounts shall be deemed as a loan provided to you by the Company, that shall bear interest in the minimum rate,
as determined from time to time under the law to avoid any tax liable benefit in the hands of the loan recipient and you shall
be required to repay such loan to the Company, together with value added tax for the interest in accordance with the law, pursuant
to a payment arrangement as determined by the Company (as of the date of signing this Letter of Indemnity such interest rate is
4%), provided such amounts are fully paid to the Company by no later than 6 months after the date on which the Company became
aware that you were not entitled to indemnity for the said amounts.

 

	 	5.9	Providing
    Securities in favor of Insurer

 

Notwithstanding
that stated above in this Letter of Indemnity (including section 4 above) and since as set forth in section 3.1 above the Company’s
payments constitute an “additional layer” above the insurance proceeds to be paid to you by the insurer, if any, then
upon the occurrence of any Event which may entitle you to indemnity, for which you may be required to incur various expenses and
payments for the handling of legal proceedings conducted against you in this matter and connected to such Event, you are required
to first contact the insurer to receive the funds necessary to cover such expenses and payments. For this purpose, the Company
undertakes to make available to the insurer all the necessary securities demanded by the insurer, if any, in order to receive
such funds, provided that the scope of said securities does not exceed the Maximum Indemnity Amount, as defined below.

 

    8

     

    

 

To
the extent it is subsequently discovered that you were not entitled to receive such amounts, if any, from the insurer, you shall
be obligated to immediately return such amounts to the insurer in order to allow the release of the securities provided by the
Company in favor of the insurer. If you fail to comply with the aforesaid, such securities provided by the Company to the insurer
and realized by the insurer shall be considered as a loan in accordance with the provisions set forth in section 5.8 above, mutatis
mutandis.

 

	 	6.	Indemnity
    Period

 

			The
                                         Company’s undertakings under this Letter of Indemnity shall indefinitely inure
                                         to your benefit and/or to the benefit of your estate, even following the termination
                                         of your employment with the Company and/or your service as Officeholder in the Company
                                         and/or any of its subsidiaries and/or affiliates and/or Another Corporation as defined
                                         above, as the case may be, provided such acts for which such indemnity is provided took
                                         place during the course of your employment with the Company and/or your service as Officeholder
                                         in the Company and/or any of its subsidiaries and/or affiliates and/or Another Corporation.

 

		7.	The
                                         Company’s undertakings under this Letter of Indemnity shall be broadly interpreted
                                         and in a manner intending to uphold them and comply, to the extent permitted under the
                                         law, with the purposes of this Letter of Indemnity. In the event of a conflict between
                                         any provision in this Letter of Indemnity and the provisions of any law which cannot
                                         be stipulated against, or which may not be amended or supplemented, such provision of
                                         the law shall prevail, but without derogating from and/or affecting the validity and
                                         effect of the other provisions of this Letter of Indemnity.

 

		8.	This
                                         Letter of Indemnity shall come into effect upon your signing a copy of this Letter where
                                         indicated and delivery of the signed copy to the Company.

 

		9.	Nothing
                                         in this Letter of Indemnity shall be interpreted as derogating from any of the provisions
                                         of the Letter of Exemption granted to you by the Company, if any.

 

	 	10.	The Supplement hereto
    constitutes an integral part hereof.

 

		11.	This
                                         Letter of Indemnity shall be governed by Israeli Law and the competent court in Tel Aviv
                                         shall have exclusive jurisdiction to hear any disputes arising from this Letter of Indemnity.

 

In
witness whereof, the Company has hereunto set its hand:

 

Date:____________  __________________________________________

Therapix
Biosciences Ltd.

 

I,
the undersigned, hereby acknowledge receipt of this Letter of Indemnity and confirm my agreement to the terms and conditions hereof
including the provisions of section 5.8 above.

 

___________________

[Name
and Signature]

 

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The
Supplement

 

	 	The Specified Events	Final
Liability (NIS)1
	1	Any claim or demand made by a customer, supplier, contractor or any third party that engage in any type of business with the Company, its subsidiaries, affiliates or Another Corporation as such term is defined above (collectively and/or severally referred to in this Supplement as: “the Company”), including with respect to the conducting of negotiations with the above. 	5,000,000
	2	Any claim or demand made in connection with a transaction, regardless of whether such transaction was conducted in the Company’s ordinary course of business or not, including for acceptance of credit, sale, lease, transfer or purchase of assets or liabilities, including securities and receipt and/or providing an option for such sale, lease, transfer or purchase of assets or liabilities.	20,000,000
	3	Any claim or demand made by employees, consultants, agents or other individuals or an entity employed by, or providing services to, the Company in connection with compensation owing to them or damages sustained by them or liabilities incurred by them in connection with their employment by the Company or their engagement with the Company, including Events associated with employees’ terms of employment and labor relations, including employees’ promotion, processing pension arrangements, insurance and savings plans, granting securities and other benefits. 	2,000,000
	4	Any claim or demand concerning a failure to disclose or to a supply any kind of information on the due date for disclosure under the law, or in connection with an erroneous or faulty disclosure of such information, to third parties, including to the holders of the Company’s securities, or to prospective holders of securities, including with reference to an issuance, allocation, distribution, purchase, holding or connection to the Company’s securities or any other investment activities involving or affected by the Company’s securities. Without derogating from the generality of the aforesaid, this Event shall also apply to a public offering of securities pursuant to a prospectus, private offering, exchange tender offer or other offering of securities. Any claim or demand concerning a failure to disclose or to supply any kind of information on the due date for disclosure under the law, or in connection with an erroneous or faulty disclosure of such information to third parties, including to the income tax authorities, value added tax authorities, the National Insurance Institute of Israel, the Israeli Investment Center, local authorities, the Ministry of the Environment and any other governmental or institutional entities or professional or other unions.	40,000,000

 

	1	The amounts listed below are linked to the increase
    in the Consumer Price Index from the execution date of this Letter of Indemnity and until the actual indemnity date.

 

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	5	Any claim or demand concerning any Event arising from or connected to the issuance of the Company’s securities to the public or a private issuance (including, without limitation, claims based on a prospectus published by the Company, or a disclosure or failure to disclose any details therein, or reporting or failure to report any matters following the issuance, or compliance or non compliance with the provisions of any relevant securities laws) and including any claim or demand concerning all matters ought to be disclosed in such prospectus, including any draft thereof, occurring prior to the date of such prospectus, or thereafter during the period commencing on the date of such prospectus and ending upon conclusion of the subscription period which were not duly disclosed in such prospectus as required under the law or in later reporting of the Company (hereinafter: “Misleading or Deficient Reporting”), provided that immediately after becoming aware of such Misleading or Deficient Reporting in the prospectus, the Officeholder duly acted as required under the law. In this matter, “reporting” - including interim reports, immediate reports, financial statements and any other reporting required of the Company or the Officeholder under any law.	40,000,000
	6	Any claim or demand instituted on the basis of any actual or alleged cause of action or misuse of any third party intellectual property by the Company or anyone on its behalf, including the breach of various patent rights.	1,000,000
	7	Any claim or demand instituted by a lender or creditor or relating to moneys loaned by them, or debts owing to them by the Company. 	35,000,000
	8	Any claim or demand filed by a third party that sustained an injury or damage to a business or personal property, including loss of use of such business or personal property during the course of an act or omission attributed to the Company, or to any of its employees, agents, respectively, or other persons operating or purporting to operate on behalf of the Company.	1,000,000
	9	Any claim or demand made directly or indirectly in connection with a full or partial omission by the Company, or its Officeholders, directors or employees, in anything relating to payment, reporting, or documentation of documents, to any state, foreign or municipal authorities or any payment required under the laws of the State of Israel and any other country, including the payment of income tax, sales, appreciation or transfer taxes, excise, value added tax, stamp tax, customs, national insurance, salaries or delay in payment of salaries to employees or other delays, including any type of interest and linkage differentials.	10,000,000
	10	Any claim or demand instituted by purchasers, owners, lessors, leasees or other holders of assets or products of the Company, or individuals engaged with such products, for loss or damage arising from use of such assets or products.	20,000,000

 

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	11	
        Any administrative, public or judicial actions, orders,
        judgments, claims, demands, letters of claims, instructions, arguments, charges, attachments, investigation proceedings, or notices
        on non compliance or violations from any governmental authorities or other entities asserting potential liability or accountability
        (including enforcement expenses, investigations, governmental reactions, cleaning, removal or repair for any damage to natural
        resources, soil damages, bodily injuries or fines or donations, indemnification, recuperation expenses, compensation) resulting
        from the aforesaid, in Israel or outside Israel based on or connected to:

        Any occurrence of fluids release, discharge, leaking, flooding,
        spill, disposal, emission, leaching or migration into the environment on and/or under and/or above land (hereinafter, collectively:
        “Pollution”) or hazards of Pollutions or exposure to any kind of dangerous, explosive, toxic or radioactive
        substances, waste or other materials that are subject to regulatory duties pursuant to environmental laws, at any location belonging
        to, operated by, rented or managed by the Company.

        Circumstances creating any kind of violation of environmental
        laws, environmental licenses or permits or any additional authorizations required under the environmental laws.
	5,000,000
	12	Any administrative, public or judiciary acts, orders, judgments, claims, demands, letters of demands, instructions, arguments, investigations, proceedings, or notices on non compliance or violations of any governmental authorities or other entities asserting non compliance with the provisions of any law, regulation, order, ordinance, rule, custom, directive, licensing or judgment by the Company or by the Company’s Officeholders in their capacity in the Company.	5,000,000
	13	Any claim or demand with reference to the restructuring or reorganization of the Company or any related resolution, including without derogating from the generality of the foregoing, merger,  split, modification of the Company’s share capital, incorporation of subsidiaries, dissolution or sale of subsidiaries to third parties.	5,000,000
	14	Any claim or demand with reference to any resolutions or acts of the Company or any Officeholder in his/her capacity as Officeholder of the Company, after conducting examinations and consultations appropriate for such types of resolutions or actions, including resolutions adopted at the Company’s board of directors or any of its committees.	5,000,000
	15	Any claim or demand with reference to any expressions, statements, including statements of opinion or position or voting at  general meetings of corporations and/or other organs of such corporations by an Officeholder in his/her capacity as Officeholder of the Company.	3,000,000
	16	Any claim or demand with reference to any opinion of the Company’s board of directors in the context of a tender offer to offerees, as to the feasibility of a special tender offer in accordance with the provisions of Section 329 of the Companies Law, 5759 - 1999 or a failure to provide such opinion.	10,000,000
	17	Any claim or demand which refer to any of the Events set forth above, in connection with the Officeholder’s service with any of the subsidiaries and/or affiliates of the Company and/or Another Corporation, all in his/her capacity as Officeholder and/or employee of any of the above companies. 	10,000,000

 

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	18	All acts associated with the performance of a transaction in the field of insurance or acts that resulted in a failure to procure appropriate insurance arrangements, including the engagement with reinsurers and/or agents and/or insurers and/or insureds and/or other customers.	10,000,000
	19	Any acts in connection with a distribution, including the purchase of shares of the Company, provided that indemnification for such act does not constitute a breach of any law.	15,000,000
	20	Any claim or demand filed in connection with sale or purchase transactions or holding marketable securities for or on behalf of the Company.	20,000,000
	21	Any claim or demand instituted in connection with an investment transaction considered and/or made by the Company in any securities, conducted in the stages prior to and/or following such investment transaction, for the purpose of entering into the transaction, its execution, development, follow-up or supervision.	20,000,000
	22	Any claim and demand instituted by holders of the Company’s securities, including the Company’s shareholders, including holders of future securities (including shares) of the Company or creditors of the Company, for breach of the companies laws, securities laws or any other law conferring causes of action upon the above.	40,000,000
	23	Any claim or demand instituted in connection with an application to or appointment of a receiver for all or part of the assets of the Company and/or its subsidiaries and/or affiliates and/or a dissolution application against the Company and/or its subsidiaries and/or affiliates and/or any other proceedings filed for the purpose of settlement or arrangement with the creditors of the Company and/or of its subsidiaries and/or affiliates.	20,000,000
	24	Acts in connection with, without limitation and without derogating from the generality of the foregoing, the purchase or sale of companies, legal entities or properties, as well as Events, directly or indirectly relating to business antitrusts, including restrictive arrangements, monopolies, splits or mergers and any legal or other consequences arising therefrom.	20,000,000
	25	Any claim or demand instituted with reference to any required reporting or notice and/or the failure to provide a report or notice under the Companies Law, 5759-1999 and/or the Securities Law, 5728-1968, including the regulations promulgated thereunder, or pursuant to any similar foreign laws and regulations, or the applicable rules or directives of any Israeli and/or foreign stock exchange.  	40,000,000

 

 

13

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