Document:

Exhibit 10.4

 

Chemomab Ltd.
 2015 Share Incentive Plan

 

 

Unless otherwise defined, terms
used herein shall have the meaning ascribed to them in Section 2 hereof.

 

		1.	PURPOSE; TYPES OF AWARDS; CONSTRUCTION.

 

1.1          
Purpose. The purpose of this 2015 Share Incentive Plan (as amended, this “Plan”) is to afford
an incentive to Service Providers of ChemomAB Ltd., an Israeli company (together with any successor corporation thereto, the “Company”),
or any Affiliate of the Company, which now exists or hereafter is organized or acquired by the Company or its Affiliates, to continue
as Service Providers, to increase their efforts on behalf of the Company or its Affiliates and to promote the success of the Company's
business, by providing such Service Providers with opportunities to acquire a proprietary interest in the Company by the issuance
of Shares or restricted Shares (“Restricted Shares”) of the Company, and by the grant of options to purchase
Shares (“Options”), Restricted Share Units (“RSUs”) and other Share-based Awards pursuant
to Sections 11 through 13 of this Plan.

 

1.2          
Types of Awards. This Plan is intended to enable the Company to issue Awards under various tax regimes, including:

 

(i)               
pursuant and subject to the provisions of Section 102 of the Ordinance (or the corresponding provision of any subsequently
enacted statute, as amended from time to time), and all regulations and interpretations adopted by any competent authority, including
the Israeli Income Tax Authority (the “ITA”), including the Income Tax Rules (Tax Benefits in Stock Issuance
to Employees) 5763-2003 or such other rules so adopted from time to time (the “Rules”) (such Awards that are
intended to be (as set forth in the Award Agreement) and which qualify as such under Section 102 of the Ordinance and the Rules,
 “102 Awards”);

 

(ii)              
pursuant to Section 3(9) of the Ordinance or the corresponding provision of any subsequently enacted statute, as amended
from time to time (such Awards, “3(9) Awards”);

 

(iii)             
Incentive Stock Options within the meaning of Section 422 of the Code, or the corresponding provision of any subsequently
enacted United States federal tax statute, as amended from time to time, to be granted to Employees who are deemed to be residents
of the United States, for purposes of taxation, or are otherwise subject to U.S. Federal income tax (such Awards that are intended
to be (as set forth in the Award Agreement) and which qualify as an incentive stock option within the meaning of Section 422(b)
of the Code, “Incentive Stock Options”); and

 

(iv)             
Awards not intended to be (as set forth in the Award Agreement) or which do not qualify as an Incentive Stock Option to
be granted to Service Providers who are deemed to be residents of the United States for purposes of taxation, or are otherwise
subject to U.S. Federal income tax (“Nonqualified Stock Options”).

 

In addition to the issuance of Awards under
the relevant tax regimes in the United States of America and the State of Israel, and without derogating from the generality of
Section 25, this Plan contemplates issuances to Grantees in other jurisdictions or under other tax regimes with respect to which
the Committee is empowered, but is not required, to make the requisite adjustments in this Plan and set forth the relevant conditions
in an appendix to this Plan or in the Company’s agreement with the Grantee in order to comply with the requirements of such
other tax regimes.

 

1.3          
Company Status. This Plan contemplates the issuance of Awards by the Company, both as a private and public company.

 

1.4           Construction.
To the extent any provision herein conflicts with the conditions of any relevant tax law, rule or regulation which are relied
upon for tax relief in respect of a particular Award to a Grantee, the Committee is empowered, but is not required, hereunder
to determine that the provisions of such law, rule or regulation shall prevail over those of this Plan and to interpret and
enforce such prevailing provisions.

 

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		2.	DEFINITIONS.

 

2.1         
Terms Generally. Except when otherwise indicated by the context, (i) the singular shall include the plural and the
plural shall include the singular; (ii) any pronoun shall include the corresponding masculine, feminine and neuter forms; (iii)
any definition of or reference to any agreement, instrument or other document herein shall be construed as referring to such agreement,
instrument or other document as from time to time amended, restated, supplemented or otherwise modified (subject to any restrictions
on such amendments, restatements, supplements or modifications set forth therein or herein), (iv) references to any law, constitution,
statute, treaty, regulation, rule or ordinance, including any section or other part thereof shall refer to it as amended from time
to time and shall include any successor thereof, (v) reference to a “company” or “entity” shall include
a, partnership, corporation, limited liability company, association, trust, unincorporated organization, or a government or agency
or political subdivision thereof, and reference to a “person” shall mean any of the foregoing or an individual, (vi)
the words “herein”, “hereof” and “hereunder”, and words of similar import, shall be construed
to refer to this Plan in its entirety, and not to any particular provision hereof, (vii) all references herein to Sections shall
be construed to refer to Sections to this Plan; (viii) the words “include”, “includes” and “including”
shall be deemed to be followed by the phrase “without limitation”; and (ix) use of the term “or” is not
intended to be exclusive.

 

2.2          
Defined Terms. The following terms shall have the meanings ascribed to them in this Section 2:

 

2.3          
“Affiliate” shall mean, (i) with respect to any person, any other person that, directly or indirectly
through one or more intermediaries, controls, is controlled by, or is under common control with, such person (with the term “control”
or “controlled by” within the meaning of Rule 405 of Regulation C under the Securities Act), including, without limitation,
any Parent or Subsidiary, or (ii) for the purpose of 102 Awards, “Affiliate” shall only mean an “employing
company” within the meaning and subject to the conditions of Section 102(a) of the Ordinance.

 

2.4         
“Applicable Law” shall mean any applicable law, rule, regulation, statute, pronouncement, policy, interpretation,
judgment, order or decree of any federal, provincial, state or local governmental, regulatory or adjudicative authority or agency,
of any jurisdiction, and the rules and regulations of any stock exchange, over-the-counter market or trading system on which the
Company's shares are then traded or listed.

 

2.5          
“Award” shall mean any Option, Restricted Share, RSUs or any other Share-based award granted under this
Plan.

 

2.6          
“Board” shall mean the Board of Directors of the Company.

 

2.7          
“Code” shall mean the United States Internal Revenue Code of 1986, and any applicable regulations promulgated
thereunder, all as amended.

 

2.8          
“Committee” shall mean a committee established or appointed by the Board to administer this Plan, subject
to Section 3.1.

 

2.9          
“Companies Law” shall mean the Israel Companies Law, 5759-1999, and the regulations promulgated thereunder,
all as amended from time to time.

 

2.10        
 “Controlling Shareholder” shall have the meaning set forth in Section 32(9) of the Ordinance.

 

2.11         “Disability”
shall mean (i) the inability of a Grantee to engage in any substantial gainful activity or to perform the major duties of the
Grantee’s position with the Company or its Affiliates by reason of any medically determinable physical or mental
impairment which has lasted or can be expected to last for a continuous period of not less than 12 months (or such other
period as determined by the Committee), as determined by a qualified doctor acceptable to the Company, (ii) if applicable, a
 “permanent and total disability” as defined in Section 22(e)(3) of the Code or Section 409A(a)(2)(c)(i) of the
Code, as amended from time to time, or (iii) as defined in a policy of the Company that the Committee deems applicable to
this Plan, or that makes reference to this Plan, for purposes of this definition.

 

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2.12        
“Employee” shall mean any person treated as an employee (including an officer or a director who is also
treated as an employee) in the records of the Company or any of its Affiliates (and in the case of 102 Awards, subject to Section
9.3 or in the case of Incentive Stock Options, who is an employee for purposes of Section 422 of the Code); provided, however,
that neither service as a director nor payment of a director’s fee shall be sufficient to constitute employment for purposes
of this Plan. The Company shall determine in good faith and in the exercise of its discretion whether an individual has become
or has ceased to be an Employee and the effective date of such individual’s employment or termination of employment, as the
case may be. For purposes of a person’s rights, if any, under this Plan as of the time of the Company’s determination,
all such determinations by the Company shall be final, binding and conclusive, notwithstanding that the Company or any court of
law or governmental agency subsequently makes a contrary determination.

 

2.13        
“employment”, “employed” and words of similar import shall be deemed to refer to the
employment of Employees or to the services of any other Service Provider, as the case may be.

 

2.14        
“exercise” “exercised” and words of similar import, when referring to an Award that
does not require exercise or that is settled upon vesting (such as may be the case with RSUs or Restricted Shares, if so determined
in their terms), shall be deemed to refer to the vesting of such an Award (regardless of whether or not the wording included reference
to vesting of such an Awards explicitly).

 

2.15        
“Exercise Period” shall mean the period, commencing on the date of grant of an Award, during which an
Award shall be exercisable, subject to any vesting provisions thereof (including any acceleration thereof, if any) and subject
to the termination provisions hereof.

 

2.16        
“Exercise Price” shall mean the exercise price for each Share covered by an Option or the purchase price
for each Share covered by any other Award.

 

2.17        
“Fair Market Value” shall mean, as of any date, the value of a Share or other property as determined
by the Board, in its discretion, subject to the following: (i) if, on such date, the Shares are listed on any securities exchange,
the average closing sales price per Share on which the Shares are principally traded over the thirty (30) day calendar period preceding
the subject date (utilizing all trading days during such 30 calendar day period), as reported in The Wall Street Journal or such
other source as the Company deems reliable; (ii) if, on such date, the Shares are then quoted in an over-the-counter market, the
average of the closing bid and asked prices for the Shares in that market during the thirty (30) day calendar period preceding
the subject date (utilizing all trading days during such 30 calendar day period), as reported in The Wall Street Journal or such
other source as the Company deems reliable; (iii) if, on such date, the Shares are not then listed on a securities exchange or
quoted in an over-the-counter market, or in case of any other property, such value as the Committee, in its sole discretion, shall
determine, with full authority to determine the method for making such determination and which determination shall be conclusive
and binding on all parties, and shall be made after such consultations with outside legal, accounting and other experts as the
Committee may deem advisable; provided, however, that, if applicable, the Fair Market Value of the Shares shall be determined in
a manner that satisfies the applicable requirements of and subject to Section 409A of the Code, and with respect to Incentive Stock
Options, in a manner that satisfies the applicable requirements of and subject to Section 422 of the Code, subject to Section 422(c)(7)
of the Code. The Committee shall maintain a written record of its method of determining such value. If the Shares are listed or
quoted on more than one established stock exchange or over-the-counter market, the Committee shall determine the principal such
exchange or market and utilize the price of the Shares on that exchange or market (determined as per the method described in clauses
(i) or (ii) above, as applicable) for the purpose of determining Fair Market Value.

 

2.18        
“Grantee” shall mean a person who has been granted an Award(s) under this Plan.

 

2.19        
“Ordinance” shall mean the Israeli Income Tax Ordinance (New Version) 1961, and the regulations and rules
(including the Rules) promulgated thereunder, all as amended from time to time.

 

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2.20         “Parent” shall mean any company (other than the Company), which now exists or is hereafter organized,
(i) in an unbroken chain of companies ending with the Company if, at the time of granting an Award, each of the companies (other
than the Company) owns stock possessing fifty percent (50%) or more of the total combined voting power of all classes of stock
in one of the other companies in such chain, or (ii) if applicable and for purposes of Incentive Stock Options, that is a “parent
corporation” of the Company, as defined in Section 424(e) of the Code.

 

2.21        
“Retirement” shall mean a Grantee's retirement pursuant to Applicable Law or in accordance with the terms
of any tax-qualified retirement plan maintained by the Company or any of its Affiliates in which the Grantee participates or is
subject to.

 

2.22        
“Securities Act” shall mean the U.S. Securities Act of 1933, and the rules and regulations promulgated
thereunder, all as amended from time to time.

 

2.23        
“Service Provider” shall mean an Employee, director, officer, consultant, advisor and any other person
or entity who provides services to the Company or any Parent, Subsidiary or Affiliate thereof. Service Providers shall include
prospective Service Providers to whom Awards are granted in connection with written offers of an employment or other service relationship
with the Company or any Parent, Subsidiary or any Affiliates thereof, provided however that such employment or service shall have
actually commenced.

 

2.24        
“Shares” shall mean Ordinary Shares, par value NIS 100,000 of the Company (as adjusted for stock split,
reverse stock split, bonus shares, combination or other recapitalization events), or shares of such other class of shares of the
Company as shall be designated by the Board in respect of the relevant Award(s). “Shares” include any securities or
property issued or distributed with respect thereto.

 

2.25        
“Subsidiary” shall mean any company (other than the Company), which now exists or is hereafter organized
or acquired by the Company, (i) in an unbroken chain of companies beginning with the Company if, at the time of granting an Award,
each of the companies other than the last company in the unbroken chain owns stock possessing fifty percent (50%) or more of the
total combined voting power of all classes of stock in one of the other companies in such chain, or (ii) if applicable and for
purposes of Incentive Stock Options, that is a “subsidiary corporation” of the Company, as defined in Section 424(f)
of the Code.

 

2.26        
“Ten Percent Shareholder” shall mean a Grantee who, at the time an Award is granted to the Grantee, owns
shares possessing more than ten percent (10%) of the total combined voting power of all classes of shares of the Company or any
Parent or Subsidiary, within the meaning of Section 422(b)(6) of the Code.

 

2.27        
“Trustee” shall mean the trustee appointed by the Committee to hold the Awards (and, in relation with
102 Awards, approved by the ITA), if so appointed.

 

2.28        
Other Defined Terms. The following terms shall have the meanings ascribed to them in the Sections set forth below:

 

	Term	Section
	 	 
	102 Awards	1.2(i)
	 	 
	102 Capital Gains Track Awards	9.1
	 	 
	102 Non-Trustee Awards	9.2
	 	 
	102 Ordinary Income Track Awards	9.1
	 	 
	102 Trustee Awards	9.1
	 	 
	3(9) Awards	1.2(ii)
	 	 
	Award Agreement	6
	 	 
	Cause	6.6.5.4

 

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	Term	Section
	 	 
	Company	1.1
	 	 
	Effective Date	24.1
	 	 
	Election	9.2
	 	 
	Eligible 102 Grantees	9.3.1
	 	 
	Incentive Stock Options	1.2(iii)
	 	 
	ITA	1.1(i)
	 	 
	Market Stand-Off	17.1
	 	 
	Market Stand-Off Period	17.1
	 	 
	Merger/Sale	14.2
	 	 
	Nonqualified Stock Options	1.2(iv)
	 	 
	Plan	1.1
	 	 
	Recapitalization	14.1
	 	 
	Required Holding Period	9.5
	 	 
	Restricted Period	11.2
	 	 
	Restricted Share Agreement	11
	 	 
	Restricted Share Unit Agreement	12
	 	 
	Restricted Shares	1.1
	 	 
	RSUs	1.1
	 	 
	Rules	1.1(i)
	 	 
	Securities	17.1
	 	 
	Successor Corporation	14.2.1
	 	 
	Withholding Obligations	18.5

 

		3.	ADMINISTRATION.

 

3.1          
To the extent permitted under Applicable Law, the Articles of Association and any other governing document of the Company,
this Plan shall be administered by the Committee. In the event that the Board does not appoint or establish a committee to administer
this Plan, this Plan shall be administered by the Board. In the event that an action necessary for the administration of this Plan
is required under Applicable Law to be taken by the Board without the right of delegation, or if such action or power was explicitly
reserved by the Board in appointing, establishing and empowering the Committee, then such action shall be so taken by the Board.
In any such event, all references herein to the Committee shall be construed as references to the Board. Even if such a Committee
was appointed or established, the Board may take any actions that are stated to be vested in the Committee, and shall not be restricted
or limited from exercising all rights, powers and authorities under this Plan or Applicable Law.

 

3.2          
The Board shall appoint the members of the Committee, may from time to time remove members from, or add members to, the
Committee, and shall fill vacancies in the Committee, however caused, provided that the composition of the Committee shall at all
times be in compliance with any mandatory requirements of Applicable Law, the Articles of Association and any other governing document
of the Company. The Committee may select one of its members as its Chairman and shall hold its meetings at such times and places
as it shall determine. The Committee may appoint a Secretary, who shall keep records of its meetings, and shall make such rules
and regulations for the conduct of its business as it shall deem advisable and subject to mandatory requirements of Applicable
Law.

 

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3.3         
 Subject to the terms and conditions of this Plan, any mandatory provisions of Applicable Law and any provisions of any
Company policy required under mandatory provisions of Applicable Law, and in addition to the Committee's powers contained elsewhere
in this Plan, the Committee shall have full authority, in its discretion, from time to time and at any time, to determine any of
the following, or to recommend to the Board any of the following if it is not authorized to take such action according to Applicable
Law:

 

(i)               
eligible Grantees,

 

(ii)             
grants of Awards and setting the terms and provisions of Award Agreements (which need not be identical) and any other agreements
or instruments under which Awards are made, including, but not limited to, the number of Shares underlying each Award and the class
of Shares underlying each Award (if more than one class was designated by the Board),

 

(iii)             
the time or times at which Awards shall be granted,

 

(iv)             
the terms, conditions and restrictions applicable to each Award (which need not be identical) and any Shares acquired upon
the exercise or (if applicable) vesting thereof, including, without limitation, (1) designating Awards under Section 1.2; (2) the
vesting schedule, the acceleration thereof and terms and conditions upon which Awards may be exercised or become vested, (3) the
Exercise Price, (4) the method of payment for Shares purchased upon the exercise or (if applicable) vesting of the Awards, (5)
the method for satisfaction of any tax withholding obligation arising in connection with the Awards or such Shares, including by
the withholding or delivery of Shares, (6) the time of the expiration of the Awards, (7) the effect of the Grantee’s termination
of employment with the Company or any of its Affiliates, and (8) all other terms, conditions and restrictions applicable to the
Award or the Shares not inconsistent with the terms of this Plan,

 

(v)               
to accelerate, continue, extend or defer the exercisability of any Award or the vesting thereof, including with respect
to the period following a Grantee’s termination of employment or other service,

 

(vi)             
the interpretation of this Plan and any Award Agreement and the meaning, interpretation and applicability of terms referred
to in Applicable Laws,

 

(vii)            
policies, guidelines, rules and regulations relating to and for carrying out this Plan, and any amendment, supplement or
rescission thereof, as it may deem appropriate,

 

(viii)           
to adopt supplements to, or alternative versions of, this Plan, including, without limitation, as it deems necessary or
desirable to comply with the laws of, or to accommodate the tax regime or custom of, foreign jurisdictions whose citizens or residents
may be granted Awards,

 

(ix)              
the Fair Market Value of the Shares or other property,

 

(x)               
the tax track (capital gains, ordinary income track or any other track available under the Section 102 of the Ordinance)
for the purpose of 102 Awards,

 

(xi)              
the authorization and approval of conversion, substitution, cancellation or suspension under and in accordance with this
Plan of any or all Awards or Shares,

 

(xii)             
the amendment, modification, waiver or supplement of the terms of each outstanding Award (with the consent of the applicable
Grantee, if such amendments refers to the increase of the Exercise Price of Awards or reduction of the number of Shared underlying
an Award (but, in each case, other than as a result of an adjustment or exercise of rights in accordance with Section 14)) unless
otherwise provided under the terms of this Plan,

 

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(xiii)            
 without limiting the generality of the foregoing, and subject to the provisions of Applicable Law, to grant to a Grantee,
who is the holder of an outstanding Award, in exchange for the cancellation of such Award, a new Award having an Exercise Price
lower than that provided in the Award so canceled and containing such other terms and conditions as the Committee may prescribe
in accordance with the provisions of this Plan or to set a new Exercise Price for the same Award lower than that previously provided
in the Award,

 

(xiv)           
to correct any defect, supply any omission or reconcile any inconsistency in this Plan or any Award Agreement and all other
determinations and take such other actions with respect to this Plan or any Award as it may deem advisable to the extent not inconsistent
with the provisions of this Plan or Applicable Law, and

 

(xv)             
any other matter which is necessary or desirable for, or incidental to, the administration of this Plan and any Award thereunder.

 

3.4          
The authority granted hereunder includes the authority to modify Awards to eligible individuals who are foreign nationals
or are individuals who are employed outside Israel to recognize differences in local law, tax policy or custom, in order to effectuate
the purposes of this Plan but without amending this Plan.

 

3.5          
The Board and the Committee shall be free at all times to make such determinations and take such actions as they deem fit.
The Board and the Committee need not take the same action or determination with respect to all Awards, with respect to certain
types of Awards, with respect to all Service Providers or any certain type of Service Providers and actions and determinations
may differ as among the Grantees, and as between the Grantees and any other holders of securities of the Company.

 

3.6         
All decisions, determinations, and interpretations of the Committee, the Board and the Company under this Plan shall be
final and binding on all Grantees (whether before or after the issuance of Shares pursuant to Awards), unless otherwise determined
by the Committee, the Board or the Company, respectively. The Committee shall have the authority (but not the obligation) to determine
the interpretation and applicability of Applicable Laws to any Grantee or any Awards. No member of the Committee or the Board shall
be liable to any Grantee for any action taken or determination made in good faith with respect to this Plan or any Award granted
hereunder.

 

3.7          
Any officer or authorized signatory of the Company shall have the authority to act on behalf of the Company with respect
to any matter, right, obligation, determination or election which is the responsibility of or which is allocated to the Company
herein, provided such person has apparent authority with respect to such matter, right, obligation, determination or election.
Such person or authorized signatory shall not be liable to any Grantee for any action taken or determination made in good faith
with respect to this Plan or any Award granted hereunder.

 

		4.	ELIGIBILITY.

 

Awards may be granted
to Service Providers of the Company or any Affiliate thereof, taking into account, at the Committee’s discretion and without
an obligation to do so, the qualification under each tax regime pursuant to which such Awards are granted, subject to the limitation
on the granting of Incentive Stock Options set forth in Section 8.1. A person who has been granted an Award hereunder may be granted
additional Awards, if the Committee shall so determine, subject to the limitations herein. However, eligibility in accordance with
this Section 4 shall not entitle any person to be granted an Award, or, having been granted an Award, to be granted an additional
Award.

 

Awards may differ in
number of Shares covered thereby, the terms and conditions applying to them or on the Grantees or in any other respect (including,
that there should not be any expectation (and it is hereby disclaimed) that a certain treatment, interpretation or position granted
to one shall be applied to the other, regardless of whether or not the facts or circumstances are the same or similar).

 

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		5.	SHARES.

 

5.1         
The maximum aggregate number of Shares that may be issued pursuant to Awards under this Plan (the “Pool”)
shall initially be [16,043] authorized but unissued Shares (except and as adjusted pursuant to Section 14.1 of this Plan), or such
other number as the Board may determine from time to time (without the need to amend the Plan in case of such determination). However,
except as adjusted pursuant to Section 14.1, in no event shall more than such number of Shares included in the Pool, as adjusted
in accordance with Section 5.2, be available for issuance pursuant to the exercise of Incentive Stock Options.

 

5.2         
Any Shares (a) underlying an Award granted hereunder or an award granted under the Company’s Share Ownership And Option
Plan (2015) (the “Prior Plan”) (in an amount not to exceed 16,043 Shares under the Prior Plan that has expired,
or was cancelled, terminated, forfeited or, repurchased or settled in cash in lieu of issuance of Shares, for any reason, without
having been exercised; (b) if permitted by the Company, tendered to pay the Exercise Price of an Award or the exercise price or
other purchase price of any option or other award under the Prior Plan, or withholding tax obligations with respect to an Award
or any awards under the Prior Plan; or (c) if permitted by the Company, subject to an Award or any award under the Prior Plan that
are not delivered to a Grantee because such Shares are withheld to pay the Exercise Price of such Award or of any award under the
Prior Plan, or withholding tax obligations with respect to such Award or such other award; shall automatically, and without any
further action on the part of the Company or any Grantee, again be available for grant of Awards and Shares issued upon exercise
of (if applicable) vesting thereof for the purposes of this Plan (unless this Plan shall have been terminated) or unless the Board
determines otherwise. Such Shares may, in whole or in part, be authorized but unissued Shares, treasury shares (dormant shares)
or Shares otherwise that shall have been or may be repurchased by the Company (to the extent permitted pursuant to the Companies
Law).

 

5.3          
Any Shares under the Pool that are not subject to outstanding or exercised Awards at the termination of this Plan shall
cease to be reserved for the purpose of this Plan.

 

5.4          
From and after the Effective Date, no further grants or awards shall be made under the Prior Plan; however, Awards made
under the Prior Plan before the Effective Date shall continue in effect in accordance with their terms.

 

		6.	TERMS AND CONDITIONS OF AWARDS.

 

Each Award granted
pursuant to this Plan shall be evidenced by a written or electronic agreement between the Company and the Grantee or a written
or electronic notice delivered by the Company (the “Award Agreement”), in substantially such form or forms and
containing such terms and conditions, as the Committee shall from time to time approve. The Award Agreement shall comply with and
be subject to the following general terms and conditions and the provisions of this Plan (except for any provisions applying to
Awards under different tax regimes), unless otherwise specifically provided in such Award Agreement, or the terms referred to in
other Sections of this Plan applying to Awards under such applicable tax regimes, or terms prescribed by Applicable Law. Award
Agreements need not be in the same form and may differ in the terms and conditions included therein.

 

6.1          
Number of Shares. Each Award Agreement shall state the number of Shares covered by the Award.

 

6.2         
Type of Award. Each Award Agreement may state the type of Award granted thereunder, provided that the tax treatment
of any Award, whether or not stated in the Award Agreement, shall be as determined in accordance with Applicable Laws.

 

6.3         
Exercise Price. Each Award Agreement shall state the Exercise Price, if applicable. Unless otherwise set forth in
this Plan, an Exercise Price of an Award of less than the par value of the Shares (if shares bear a par value) shall comply with
Section 304 of the Companies Law, 1999, as amended. Subject to Sections 3 7.2 and 8.2 and to the foregoing, the Committee may reduce
the Exercise Price of any outstanding Award, on terms and subject to such conditions as it deems advisable. The Exercise Price
shall also be subject to adjustment as provided in Section 14 hereof.

 

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6.4        
 Manner of Exercise. An Award may be exercised, as to any or all Shares as to which the Award has become exercisable,
by written notice delivered in person or by mail (or such other methods of delivery prescribed by the Company) to the Chief Executive
Officer or to the Chief Financial Officer of the Company or to such other person as determined by the Committee, or in any other
manner as the Committee shall prescribe from time to time, specifying the number of Shares with respect to which the Award is being
exercised (which may be equal to or lower than the aggregate number of Shares that have become exercisable at such time, subject
to the last sentence of this Section), accompanied by payment of the aggregate Exercise Price for such Shares in the manner specified
in the following sentence. The Exercise Price shall be paid in full with respect to each Share, at the time of exercise, either
in (i) cash, (ii) if the Company’s shares are listed for trading on any securities exchange or over-the-counter market, and
if the Committee so determines, all or part of the Exercise Price and any withholding taxes may be paid by the delivery (on a form
prescribed by the Company) of an irrevocable direction to a securities broker approved by the Company to sell Shares and to deliver
all or part of the sales proceeds to the Company or the Trustee, (iii) if the Company’s shares are listed for trading on
any securities exchange or over-the-counter market, and if the Committee so determines, all or part of the Exercise Price and any
withholding taxes may be paid by the delivery (on a form prescribed by the Company) of an irrevocable direction to pledge Shares
to a securities broker or lender approved by the Company, as security for a loan, and to deliver all or part of the loan proceeds
to the Company or the Trustee, or (iv) in such other manner as the Committee shall determine, which may include procedures for
cashless exercise. For as long as the Company’s shares are not listed for trading on any securities exchange or over-the-counter
market and unless the Committee determines otherwise, a Grantee may not exercise Awards unless the aggregate Exercise Price thereof
is equal to or in excess of the lower of: (a) the aggregate Exercise Price for all Shares as to which the Award has become exercisable
at such time; or (b) US$[2,000].

 

6.5          
Term and Vesting of Awards.

 

6.5.1          
Each Award Agreement shall provide the vesting schedule for the Award as determined by the Committee. The Committee shall
have the authority to determine the vesting schedule and accelerate the vesting of any outstanding Award at such time and under
such circumstances as it, in its sole discretion, deems appropriate. Unless otherwise resolved by the Committee and stated in the
Award Agreement, and subject to Sections 6.6 and 6.7 hereof, Awards shall vest and become exercisable under the following schedule:
twenty-five percent (25%) of the Shares covered by the Award, on the first anniversary of the vesting commencement date determine
by the Committee (and in the absence of such determination, of date on which such Award was granted), and six and one-quarter percent
(6.25%) of the Shares covered by the Award at the end of each subsequent three-month period thereafter over the course of the following
three (3) years; provided that the Grantee remains continuously as a Service Provider of the Company or its Affiliates throughout
such vesting dates.

 

6.5.2          
The Award Agreement may contain performance goals and measurements (which, in case of 102 Awards, shall, if then required,
be subject to obtaining a specific tax ruling or determination from the ITA), and the provisions with respect to any Award need
not be the same as the provisions with respect to any other Award. Such performance goals may include, but are not limited to,
sales, earnings before interest and taxes, return on investment, earnings per share, any combination of the foregoing or rate of
growth of any of the foregoing, as determined by the Committee. The Committee may adjust performance goals pursuant to Awards previously
granted to take into account changes in law and accounting and tax rules and to make such adjustments as the Committee deems necessary
or appropriate to reflect the inclusion or the exclusion of the impact of extraordinary or unusual items, events or circumstances.

 

6.5.3          
The Exercise Period of an Award will be [ten (10)] years from the date of grant of the Award, unless otherwise determined
by the Committee and stated in the Award Agreement, but subject to the vesting provisions described above and the early termination
provisions set forth in Sections 6.6 and 6.7 hereof. At the expiration of the Exercise Period, any Award, or any part thereof,
that has not been exercised within the term of the Award and the Shares covered thereby not paid for in accordance with this Plan
and the Award Agreement shall terminate and become null and void, and all interests and rights of the Grantee in and to the same
shall expire.

 

    9

     

    

 

6.6         
 Termination.

 

6.6.1          
Unless otherwise determined by the Committee, and subject to Section 6.7 hereof, an Award may not be exercised unless the
Grantee is then a Service Provider of the Company or an Affiliate thereof or, in the case of an Incentive Stock Option, a company
or a parent or subsidiary company of such company issuing or assuming the Option in a transaction to which Section 424(a) of the
Code applies, and unless the Grantee has remained continuously so employed since the date of grant of the Award and throughout
the vesting dates.

 

6.6.2          
In the event that the employment or service of a Grantee shall terminate (other than by reason of death, Disability or Retirement),
all Awards of such Grantee that are unvested at the time of such termination shall terminate on the date of such termination, and
all Awards of such Grantee that are vested and exercisable at the time of such termination may be exercised within up to three
(3) months after the date of such termination (or such different period as the Committee shall prescribe), but in any event no
later than the date of expiration of the Award’s term as set forth in the Award Agreement or pursuant to this Plan; provided,
however, that if the Company (or the Subsidiary or Affiliate, when applicable) shall terminate the Grantee’s employment or
service for Cause (as defined below) or if at any time during the Exercise Period (whether prior to and after termination of employment
or service, and whether or not the Grantee’s employment or service is terminated by either party as a result thereof), facts
or circumstances arise or are discovered with respect to the Grantee that would have constituted Cause, all Awards theretofore
granted to such Grantee (whether vested or not) shall, to the extent not theretofore exercised, terminate on the date of such termination
(or on such subsequent date on which such facts or circumstances arise or are discovered, as the case may be) unless otherwise
determined by the Committee; and any Shares issued upon exercise or (if applicable) vesting of Awards (including other Shares or
securities issued or distributed with respect thereto), whether held by the Grantee or by the Trustee for the Grantee’s benefit,
shall be deemed to be irrevocably offered for sale to the Company, any of its Affiliates or any person designated by the Company
to purchase, at the Company’s election and subject to Applicable Law, either for no consideration, for the par value of such
Shares (if shares bear a par value) or against payment of the Exercise Price previously received by the Company for such Shares
upon their issuance, as the Committee deems fit, upon written notice to the Grantee at any time after the Grantee’s termination
of employment or service. Such Shares or other securities shall be sold and transferred within 30 days from the date of the Company’s
notice of its election to exercise its right. If the Grantee fails to transfer such Shares or other securities to the Company,
the Company, at the decision of the Committee, shall be entitled to forfeit or repurchase such Shares and to authorize any person
to execute on behalf of the Grantee any document necessary to effect such transfer, whether or not the share certificates are surrendered.
The Company shall have the right and authority to affect the above either by: (i) repurchasing all of such Shares or other securities
held by the Grantee or by the Trustee for the benefit of the Grantee, or designate any other person who shall have the right and
authority to purchase all of Such Shares or other securities, for the Exercise Price paid for such Shares, the par value of such
Shares (if shares bear a par value) or for no payment or consideration whatsoever, as the Committee deems fit; (ii) forfeiting
all such Shares or other securities; (iii) redeeming all such Shares or other securities, for the Exercise Price paid for such
Shares, the par value of such Shares (if shares bear a par value) or for no payment or consideration whatsoever, as the Committee
deems fit; (iv) taking action in order to have such Shares or other securities converted into deferred shares entitling their holder
only to their par value (if shares bear a par value) upon liquidation of the Company; or (v) taking any other action which may
be required in order to achieve similar results; all as shall be determined by the Committee, at its sole and absolute discretion,
and the Grantee is deemed to irrevocably empower the Company or any person which may be designated by it to take any action by,
in the name of or on behalf of the Grantee to comply with and give effect to such actions (including, voting such shares, filling
in, signing and delivering share transfer deeds, etc.).

 

6.6.3           The
Committee may determine, in its discretion, that any Grantee whose employment with or service to the Company or an Affiliate
thereof (or, in the case of an Incentive Stock Option, a company or a parent or subsidiary company of such company issuing or
assuming the Awards in a transaction to which Section 424(a) of the Code), has or shall terminate for any reason, shall be
deemed to have irrevocably offered to the Company and any of its Affiliates (or any other person designated by the Company)
to purchase all or part of the Shares issued pursuant to the exercise or (if applicable) the vesting of an Award (including
other Shares or securities issued or distributed with respect thereto), whether held by the Grantee or by the Trustee for the
Grantee’s benefit, in consideration for the Fair Market Value of such Shares or other consideration as shall be
determined by the Committee, and subject to Applicable Law. In the event that such Shares are not purchased as set forth
above, any subsequent sale or disposition thereof shall be subject to provisions of this Plan and the Company’s Article
of Association.

 

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6.6.4          
Notwithstanding anything to the contrary, the Committee, in its absolute discretion, may, on such terms and conditions as
it may determine appropriate, extend the periods for which Awards held by any Grantee may continue to vest and be exercisable;
it being clarified that such Awards may lose their entitlement to certain tax benefits under Applicable Law as a result of the
modification of such Awards and/or in the event that the Award is exercised beyond the later of: (i) three (3) months after the
date of termination of the employment or service relationship; or (ii) the applicable period under Section 6.7 below with respect
to a termination of the employment or service relationship because of the death, Disability or Retirement of Grantee.

 

6.6.5          
For purposes of this Plan:

 

6.6.5.1              
a termination of employment or service of a Grantee shall not be deemed to occur (except to the extent required by the Code
with respect to the Incentive Stock Option status of an Option) in case of (i) a transition or transfer of a Grantee among the
Company and its Affiliates, (ii) a change in the capacity in which the Grantee is employed or renders service to the Company or
any of its Affiliates or a change in the identity of the employing or engagement entity among the Company and its Affiliates, provided,
in case of (i) and (ii) above, that the Grantee has remained continuously employed by and/or in the service of the Company and
its Affiliates since the date of grant of the Award and throughout the vesting period; or (iii) if the Grantee takes any unpaid
leave as set forth in Section 6.8(i) below.

 

6.6.5.2             
An entity or an Affiliate thereof assuming an Award or issuing in substitution thereof in a transaction to which Section
424(a) of the Code applies or in a Merger/Sale in accordance with Section 14 shall be deemed as an Affiliate of the Company for
purposes of this Section 6.6, unless the Committee determines otherwise.

 

6.6.5.3             
In the case of a Grantee whose principal employer or service recipient is a Subsidiary or Affiliate, the Grantee’s
employment shall also be deemed terminated for purposes of this Section 6.6 as of the date on which such principal employer or
service recipient ceases to be a Subsidiary or Affiliate.

 

6.6.5.4               The
term “Cause” shall mean (irrespective of, and in addition to, any definition included in any other
agreement or instrument applicable to the Grantee, and unless otherwise determined by the Committee) any of the following:
(i) any theft, fraud, embezzlement, dishonesty, willful misconduct, breach of fiduciary duty for personal profit,
falsification of any documents or records of the Company or any of its Affiliates, felony or similar act by the Grantee
(whether or not related to the Grantee’s relationship with the Company); (ii) an act of moral turpitude by the Grantee,
or any act that causes significant injury to, or is otherwise adversely affecting, the reputation, business, assets,
operations or business relationship of the Company (or a Subsidiary or Affiliate, when applicable); (iii) any breach by the
Grantee of any material agreement with or of any material duty of the Grantee to the Company or any Subsidiary or Affiliate
thereof (including breach of confidentiality, non-disclosure, non-use non-competition or non-solicitation covenants towards
the Company or any of its Affiliates) or failure to abide by code of conduct or other policies (including, without
limitation, policies relating to confidentiality and reasonable workplace conduct); or (iv) any act which constitutes a
breach of a Grantee’s fiduciary duty towards the Company or an Affiliate or Subsidiary, including disclosure of
confidential or proprietary information thereof or acceptance or solicitation to receive unauthorized or undisclosed
benefits, irrespective of their nature, or funds, or promises to receive either, from individuals, consultants or corporate
entities that the Company or a Subsidiary does business with; (v) the Grantee’s unauthorized use, misappropriation,
destruction, or diversion of any tangible or intangible asset or corporate opportunity of the Company or any of its
Affiliates (including, without limitation, the improper use or disclosure of confidential or proprietary information); or
(vi) any circumstances that constitute grounds for termination for cause under the Grantee’s employment or service
agreement with the Company or Affiliate, to the extent applicable. For the avoidance of doubt, the determination as to
whether a termination is for Cause for purposes of this Plan, shall be made in good faith by the Committee and shall be final
and binding on the Grantee.

 

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6.7          
Death, Disability or Retirement of Grantee.

 

6.7.1          
If a Grantee shall die while employed by, or performing service for, the Company or its Affiliates, or within the three
(3) month period (or such longer period of time as determined by the Board, in its discretion) after the date of termination of
such Grantee's employment or service (or within such different period as the Committee may have provided pursuant to Section 6.6
hereof), or if the Grantee's employment or service shall terminate by reason of Disability, all Awards theretofore granted to such
Grantee may (to the extent otherwise vested and exercisable and unless earlier terminated in accordance with their terms) be exercised
by the Grantee or by the Grantee's estate or by a person who acquired the legal right to exercise such Awards by bequest or inheritance,
or by a person who acquired the legal right to exercise such Awards in accordance with applicable law in the case of Disability
of the Grantee, as the case may be, at any time within one (1) year (or such longer period of time as determined by the Committee,
in its discretion) after the death or Disability of the Grantee (or such different period as the Committee shall prescribe), but
in any event no later than the date of expiration of the Award’s term as set forth in the Award Agreement or pursuant to
this Plan. In the event that an Award granted hereunder shall be exercised as set forth above by any person other than the Grantee,
written notice of such exercise shall be accompanied by a certified copy of letters testamentary or proof satisfactory to the Committee
of the right of such person to exercise such Award.

 

6.7.2          
In the event that the employment or service of a Grantee shall terminate on account of such Grantee's Retirement, all Awards
of such Grantee that are exercisable at the time of such Retirement may, unless earlier terminated in accordance with their terms,
be exercised at any time within the three (3) month period after the date of such Retirement (or such different period as the Committee
shall prescribe).

 

6.8         
Suspension of Vesting. Unless the Committee provides otherwise, vesting of Awards granted hereunder shall be suspended
during any unpaid leave of absence, other than in the case of any (i) leave of absence which was pre-approved by the Company explicitly
for purposes of continuing the vesting of Awards, or (ii) transfers between locations of the Company or any of its Affiliates,
or between the Company and any of its Affiliates, or any respective successor thereof. For clarity, for purposes of this Plan,
military leave, statutory maternity or paternity leave or sick leave are not deemed unpaid leave of absence.

 

6.9         
Securities Law Restrictions. Except as otherwise provided in the applicable Award Agreement or other agreement between
the Service Provider and the Company, if the exercise of an Award following the termination of the Service Provider’s employment
or service (other than for Cause) would be prohibited at any time solely because the issuance of Shares would violate the registration
requirements under the Securities Act or equivalent requirements under equivalent laws of other applicable jurisdictions, then
the Award shall remain exercisable and terminate on the earlier of (i) the expiration of a period of three (3) months (or such
longer period of time as determined by the Board, in its discretion) after the termination of the Service Provider’s employment
or service during which the exercise of the Award would not be in such violation, or (ii) the expiration of the term of the Award
as set forth in the Award Agreement or pursuant to this Plan. In addition, unless otherwise provided in a Grantee’s Award
Agreement, if the sale of any Shares received upon exercise or (if applicable) vesting of an Award following the termination of
the Grantee's employment or service (other than for Cause) would violate the Company’s insider trading policy, then the Award
shall terminate on the earlier of (i) the expiration of a period equal to the applicable post-termination exercise period after
the termination of the Grantee's employment or service during which the exercise of the Award would not be in violation of the
Company’s insider trading policy, or (ii) the expiration of the term of the Award as set forth in the applicable Award Agreement
or pursuant to this Plan.

 

6.10        Voting
Proxy. Until immediately after the listing for trading on a stock exchange or market or trading system of the
Company’s (or the Successor Corporation’s) shares, the Shares subject to an Award or to be issued pursuant to an
Award or any other Securities, shall, unless otherwise determined by the Committee, be subject to an irrevocable proxy and
power of attorney by the Grantee or the Trustee (if so requested from the Trustee), as the case may be, to the Company, which
shall designate such person or persons (with a right of substitution) from time to time as determined by the Committee (and
in the absence of such determination, the CEO or Chairman of the Board, ex officio). The Trustee is deemed to be instructed
by the Grantee to sign such proxy, as requested by the Company. The proxy shall entitle the holder thereof to receive
notices, vote and take such other actions in respect of the Shares or other Securities. Any person holding or exercising such
voting proxies shall do so solely in his capacity as the proxy holder and not individually. All Awards granted hereunder
shall be conditioned upon the execution of such irrevocable proxy in substantially the form prescribed by the Committee from
time to time. So long as any such Shares are subject to such irrevocable proxy and power of attorney or held by a Trustee
(and unless a proxy was given by the Trustee as aforesaid), (i) in any shareholders meeting or written consent in lieu
thereof, such Shares shall be voted by the proxy holder (or the Trustee, as applicable), unless directed otherwise by the
Board, in the same proportion as the result of the vote at the shareholders’ meeting (or written consent in lieu
thereof) in respect of which the Shares are being voted (whether an extraordinary or annual meeting, and whether of the share
capital as one class or of any class thereof), and (ii) or in any act or consent of shareholders under the Company’s
Articles of Association or otherwise, such Shares shall be cast by the proxy holder (or the Trustee, as applicable), unless
directed otherwise by the Board, in the same proportion as the result of the shareholders’ act or consent. The
provisions of this Section shall apply to the Grantee and to any purchaser, assignee or transferee of any Shares.

 

    12

     

    

 

6.11        
Other Provisions. The Award Agreement evidencing Awards under this Plan shall contain such other terms and conditions
not inconsistent with this Plan as the Committee may determine, at or after the date of grant, including provisions in connection
with the restrictions on transferring the Awards or Shares covered by such Awards, which shall be binding upon the Grantees and
any purchaser, assignee or transferee of any Awards, and other terms and conditions as the Committee shall deem appropriate.

 

		7.	NONQUALIFIED STOCK OPTIONS.

 

Awards granted pursuant
to this Section 7 are intended to constitute Nonqualified Stock Options and shall be subject to the general terms and conditions
specified in Section 6 hereof and other provisions of this Plan, except for any provisions of this Plan applying to Awards under
different tax laws or regulations. In the event of any inconsistency or contradictions between the provisions of this Section 7
and the other terms of this Plan, this Section 7 shall prevail.

 

7.1          
Certain Limitations on Eligibility for Nonqualified Stock Options. Nonqualified Stock Options may not be granted
to a Service Provider who is deemed to be a resident of the United States for purposes of taxation or who is otherwise subject
to United States federal income tax unless the Shares underlying such Options constitute “service recipient stock”
under Section 409A of the Code or unless such Options comply with the payment requirements of Section 409A of the Code.

 

7.2          
Exercise Price. The Exercise Price of a Nonqualified Stock Option shall not be less than 100% of the Fair Market
Value of a Share on the date of grant of such Option unless the Committee specifically indicates that the Awards will have a lower
Exercise Price and the Award complies with Section 409A of the Code. Notwithstanding the foregoing, a Nonqualified Stock Option
may be granted with an exercise price lower than the minimum exercise price set forth above if such Award is granted pursuant to
an assumption or substitution for another option in a manner qualifying under the provisions of that complies with Section 424(a)
of the Code1.409A-1(b)(5)(v)(D) of the U.S. Treasury Regulations or any successor guidance.

 

		8.	INCENTIVE STOCK OPTIONS.

 

Awards granted pursuant
to this Section 8 are intended to constitute Incentive Stock Options and shall be granted subject to the following special terms
and conditions, the general terms and conditions specified in Section 6 hereof and other provisions of this Plan, except for any
provisions of this Plan applying to Awards under different tax laws or regulations. In the event of any inconsistency or contradictions
between the provisions of this Section 8 and the other terms of this Plan, this Section 8 shall prevail.

 

8.1          
Eligibility for Incentive Stock Options. Incentive Stock Options may be granted only to Employees of the Company,
or to Employees of a Parent or Subsidiary, determined as of the date of grant of such Options. An Incentive Stock Option granted
to a prospective Employee upon the condition that such person become an Employee shall be deemed granted effective on the date
such person commences employment, with an exercise price determined as of such date in accordance with Section 8.2.

 

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8.2         
 Exercise Price. The Exercise Price of an Incentive Stock Option shall not be less than one hundred percent (100%)
of the Fair Market Value of the Shares covered by the Awards on the date of grant of such Option or such other price as may be
determined pursuant to the Code. Notwithstanding the foregoing, an Incentive Stock Option may be granted with an exercise price
lower than the minimum exercise price set forth above if such Award is granted pursuant to an assumption or substitution for another
option in a manner that complies with the provisions of Section 424(a) of the Code.

 

8.3          
Date of Grant. Notwithstanding any other provision of this Plan to the contrary, no Incentive Stock Option may be
granted under this Plan after 10 years from the date this Plan is adopted, or the date this Plan is approved by the shareholders,
whichever is earlier.

 

8.4          
Exercise Period. No Incentive Stock Option shall be exercisable after the expiration of [ten (10)] years after the
effective date of grant of such Award, subject to Section 8.6. No Incentive Stock Option granted to a prospective Employee may
become exercisable prior to the date on which such person commences employment.

 

8.5          
$100,000 Per Year Limitation. The aggregate Fair Market Value (determined as of the date the Incentive Stock Option
is granted) of the Shares with respect to which all Incentive Stock Options granted under this Plan and all other “incentive
stock option” plans of the Company, or of any Parent or Subsidiary or Affiliate, become exercisable for the first time by
each Grantee during any calendar year shall not exceed one hundred thousand United States dollars ($100,000) with respect to such
Grantee. To the extent that the aggregate Fair Market Value of Shares with respect to which such Incentive Stock Options and any
other such incentive stock options are exercisable for the first time by any Grantee during any calendar year exceeds one hundred
thousand United States dollars ($100,000), such options shall be treated as Nonqualified Stock Options. The foregoing shall be
applied by taking options into account in the order in which they were granted. If the Code is amended to provide for a different
limitation from that set forth in this Section 8.5, such different limitation shall be deemed incorporated herein effective as
of the date and with respect to such Awards as required or permitted by such amendment to the Code. If an Option is treated as
an Incentive Stock Option in part and as a Nonqualified Stock Option in part by reason of the limitation set forth in this Section
8.5, the Grantee may designate which portion of such Option the Grantee is exercising. In the absence of such designation, the
Grantee shall be deemed to have exercised the Incentive Stock Option portion of the Option first. Separate certificates representing
each such portion may be issued upon the exercise of the Option.

 

8.6          
Ten Percent Shareholder. In the case of an Incentive Stock Option granted to a Ten Percent Shareholder, (i) the Exercise
Price shall not be less than one hundred and ten percent (110%) of the Fair Market Value of a Share on the date of grant of such
Incentive Stock Option, and (ii) the Exercise Period shall not exceed five (5) years from the effective date of grant of such Incentive
Stock Option.

 

8.7          
Payment of Exercise Price. Each Award Agreement evidencing an Incentive Stock Option shall state each alternative
method by which the Exercise Price thereof may be paid.

 

8.8          
Leave of Absence. Notwithstanding Section 6.8, a Grantee’s employment shall not be deemed to have terminated
if the Grantee takes any leave as set forth in Section 6.8(i); provided, however, that if any such leave exceeds three (3) months,
on the day that is six (6) months following the commencement of such leave any Incentive Stock Option held by the Grantee shall
cease to be treated as an Incentive Stock Option and instead shall be treated thereafter as a Nonqualified Stock Option, unless
the Grantee’s right to return to employment is guaranteed by statute or contract.

 

8.9          
Exercise Following Termination for Disability. Notwithstanding anything else in this Plan to the contrary, Incentive
Stock Options that are not exercised within three (3) months following termination of the Grantee’s employment with the Company
or its Parent or Subsidiary or a corporation or a Parent or Subsidiary of such corporation issuing or assuming an Option in a transaction
to which Section 424(a) of the Code applies, or within one year in case of termination of the Grantee’s employment with the
Company or its Parent or Subsidiary due to a Disability (within the meaning of Section 22(e)(3) of the Code), shall be deemed to
be Nonqualified Stock Options.

 

8.10        Adjustments
to Incentive Stock Options. Any Awards Agreement providing for the grant of Incentive Stock Options shall indicate that
adjustments made pursuant to this Plan with respect to Incentive Stock Options could constitute a “modification”
of such Incentive Stock Options (as that term is defined in Section 424(h) of the Code) or could cause adverse tax
consequences for the holder of such Incentive Stock Options and that the holder should consult with his or her tax advisor
regarding the consequences of such “modification” on his or her income tax treatment with respect to the
Incentive Stock Option.

 

    14

     

    

 

8.11        
Notice to Company of Disqualifying Disposition. Each Grantee who receives an Incentive Stock Option must agree to
notify the Company in writing immediately after the Grantee makes a Disqualifying Disposition of any Shares received pursuant to
the exercise of Incentive Stock Options. A “Disqualifying Disposition” is any disposition (including any sale) of such
Shares before the later of (i) two years after the date the Grantee was granted the Incentive Stock Option, or (ii) one year after
the date the Grantee acquired Shares by exercising the Incentive Stock Option. If the Grantee dies before such Shares are sold,
these holding period requirements do not apply and no disposition of the Shares will be deemed a Disqualifying Disposition.

 

		9.	102 AWARDS.

 

Awards granted pursuant
to this Section 9 are intended to constitute 102 Awards and shall be granted subject to the following special terms and conditions,
the general terms and conditions specified in Section 6 hereof and other provisions of this Plan, except for any provisions of
this Plan applying to Awards under different tax laws or regulations. In the event of any inconsistency or contradictions between
the provisions of this Section 9 and the other terms of this Plan, this Section 9 shall prevail.

 

9.1          
Tracks. Awards granted pursuant to this Section 9 are intended to be granted pursuant to Section 102 of the Ordinance
pursuant to either (i) Section 102(b)(2) thereof, under the capital gain track (“102 Capital Gain Track Awards”),
or (ii) Section 102(b)(1) thereof under the ordinary income track (“102 Ordinary Income Track Awards”, and together
with 102 Capital Gain Track Awards, “102 Trustee Awards”). 102 Trustee Awards shall be granted subject to the
special terms and conditions contained in this Section 9, the general terms and conditions specified in Section 6 hereof and other
provisions of this Plan, except for any provisions of this Plan applying to Options under different tax laws or regulations.

 

9.2          
Election of Track. Subject to Applicable Law, the Company may grant only one type of 102 Trustee Awards at any given
time to all Grantees who are to be granted 102 Trustee Awards pursuant to this Plan, and shall file an election with the ITA regarding
the type of 102 Trustee Awards it elects to grant before the date of grant of any 102 Trustee Awards (the “Election”).
Such Election shall also apply to any other securities, including bonus shares, received by any Grantee as a result of holding
the 102 Trustee Awards. The Company may change the type of 102 Trustee Awards that it elects to grant only after the expiration
of at least 12 months from the end of the year in which the first grant was made in accordance with the previous Election, or as
otherwise provided by Applicable Law. Any Election shall not prevent the Company from granting Awards, pursuant to Section 102(c)
of the Ordinance without a Trustee (“102 Non-Trustee Awards”).

 

9.3          
Eligibility for Awards.

 

9.3.1          
Subject to Applicable Law, 102 Awards may only be granted to an “employee” within the meaning of Section 102(a)
of the Ordinance (which as of the date of the adoption of this Plan means (i) individuals employed by an Israeli company being
the Company or any of its Affiliates, and (ii) individuals who are serving and are engaged personally (and not through an entity)
as “office holders” by such an Israeli company), but may not be granted to a Controlling Shareholder (“Eligible
102 Grantees”). Eligible 102 Grantees may receive only 102 Awards, which may either be granted to a Trustee or granted
under Section 102 of the Ordinance without a Trustee.

 

9.4          
102 Award Grant Date.

 

9.4.1           Each
102 Award will be deemed granted on the date determined by the Committee, subject to Section 9.4.2, provided that (i) the
Grantee has signed all documents required by the Company or pursuant to Applicable Law, and (ii) with respect to 102 Trustee
Award, the Company has provided all applicable documents to the Trustee in accordance with the guidelines published by the
ITA, and if an agreement is not signed and delivered by the Grantee within 90 days from the date determined by the Committee
(subject to Section 9.4.2), then such 102 Trustee Award shall be deemed granted on such later date as such agreement is
signed and delivered and on which the Company has provided all applicable documents to the Trustee in accordance with the
guidelines published by the ITA. In the case of any contradiction, this provision and the date of grant determined pursuant
hereto shall supersede and be deemed to amend any date of grant indicated in any corporate resolution or Award Agreement.

 

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9.4.2          
Unless otherwise permitted by the Ordinance, any grants of 102 Trustee Awards that are made on or after the date of the
adoption of this Plan or an amendment to this Plan, as the case may be, that may become effective only at the expiration of thirty
(30) days after the filing of this Plan or any amendment thereof (as the case may be) with the ITA in accordance with the Ordinance
shall be conditional upon the expiration of such 30-day period, such condition shall be read and is incorporated by reference into
any corporate resolutions approving such grants and into any Award Agreement evidencing such grants (whether or not explicitly
referring to such condition), and the date of grant shall be at the expiration of such 30-day period, whether or not the date of
grant indicated therein corresponds with this Section. In the case of any contradiction, this provision and the date of grant determined
pursuant hereto shall supersede and be deemed to amend any date of grant indicated in any corporate resolution or Award Agreement.

 

9.5          
102 Trustee Awards.

 

9.5.1          
Each 102 Trustee Award, each Share issued pursuant to the exercise of any 102 Trustee Award, and any rights granted thereunder,
including bonus shares, shall be issued to and registered in the name of the Trustee and shall be held in trust for the benefit
of the Grantee for the requisite period prescribed by the Ordinance or such longer period as set by the Committee (the “Required
Holding Period”). In the event that the requirements under Section 102 of the Ordinance to qualify an Award as a 102
Trustee Award are not met, then the Award may be treated as a 102 Non-Trustee Award or 3(9) Award, all in accordance with the provisions
of the Ordinance. After expiration of the Required Holding Period, the Trustee may release such 102 Trustee Awards and any such
Shares, provided that (i) the Trustee has received an acknowledgment from the ITA that the Grantee has paid any applicable taxes
due pursuant to the Ordinance, or (ii) the Trustee and/or the Company and/or its Affiliate withholds all applicable taxes and compulsory
payments due pursuant to the Ordinance arising from the 102 Trustee Awards and/or any Shares issued upon exercise or (if applicable)
vesting of such 102 Trustee Awards. The Trustee shall not release any 102 Trustee Awards or Shares issued upon exercise or (if
applicable) vesting thereof prior to the payment in full of the Grantee’s tax and compulsory payments arising from such 102
Trustee Awards and/or Shares or the withholding referred to in (ii) above.

 

9.5.2          
Each 102 Trustee Award shall be subject to the relevant terms of the Ordinance, the Rules and any determinations, rulings
or approvals issued by the ITA, which shall be deemed an integral part of the 102 Trustee Awards and shall prevail over any term
contained in this Plan or Award Agreement that is not consistent therewith. Any provision of the Ordinance, the Rules and any determinations,
rulings or approvals by the ITA not expressly specified in this Plan or Award Agreement that are necessary to receive or maintain
any tax benefit pursuant to Section 102 of the Ordinance shall be binding on the Grantee. The Grantee granted a 102 Trustee Awards
shall comply with the Ordinance and the terms and conditions of the trust agreement entered into between the Company and the Trustee.
The Grantee shall execute any and all documents that the Company and/or its Affiliates and/or the Trustee determine from time to
time to be necessary in order to comply with the Ordinance and the Rules.

 

9.5.3           During
the Required Holding Period, the Grantee shall not release from trust or sell, assign, transfer or give as collateral, the
Shares issuable upon the exercise or (if applicable) vesting of a 102 Trustee Awards and/or any securities issued or
distributed with respect thereto, until the expiration of the Required Holding Period. Notwithstanding the above, if any such
sale, release or other action occurs during the Required Holding Period it may result in adverse tax consequences to the
Grantee under Section 102 of the Ordinance and the Rules, which shall apply to and shall be borne solely by such Grantee.
Subject to the foregoing, the Trustee may, pursuant to a written request from the Grantee, but subject to the terms of this
Plan, release and transfer such Shares to a designated third party, provided that both of the following conditions have been
fulfilled prior to such release or transfer: (i) payment has been made to the ITA of all taxes and compulsory payments
required to be paid upon the release and transfer of the Shares, and confirmation of such payment has been received by the
Trustee and the Company, and (ii) the Trustee has received written confirmation from the Company that all requirements for
such release and transfer have been fulfilled according to the terms of the Company’s corporate documents, any
agreement governing the Shares, this Plan, the Award Agreement and any Applicable Law.

 

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9.5.4          
If a 102 Trustee Award is exercised or (if applicable) vested, the Shares issued upon such exercise or (if applicable) vesting
shall be issued in the name of the Trustee for the benefit of the Grantee.

 

9.5.5          
Upon or after receipt of a 102 Trustee Award, if required, the Grantee may be required to sign an undertaking to release
the Trustee from any liability with respect to any action or decision duly taken and executed in good faith by the Trustee in relation
to this Plan, or any 102 Trustee Awards or Share granted to such Grantee thereunder.

 

9.6         
102 Non-Trustee Awards. The foregoing provisions of this Section 9 relating to 102 Trustee Awards shall not apply
with respect to 102 Non-Trustee Awards, which shall, however, be subject to the relevant provisions of Section 102 of the Ordinance
and the applicable Rules. The Committee may determine that 102 Non-Trustee Awards, the Shares issuable upon the exercise or (if
applicable) vesting of a 102 Non-Trustee Awards and/or any securities issued or distributed with respect thereto, shall be allocated
or issued to the Trustee, who shall hold such 102 Non-Trustee Awards and all accrued rights thereon (if any), in trust for the
benefit of the Grantee and/or the Company, as the case may be, until the full payment of tax arising from the 102 Non-Trustee Awards,
the Shares issuable upon the exercise or (if applicable) vesting of a 102 Non-Trustee Awards and/or any securities issued or distributed
with respect thereto. The Company may choose, alternatively, to force the Grantee to provide it with a guarantee or other security,
to the satisfaction of each of the Trustee and the Company, until the full payment of the applicable taxes.

 

9.7          
Israeli Index Base for 102 Awards. Each 102 Award will be subject to the Israeli index base of the Value of Benefit,
as defined in Section 102(a) of the Ordinance, as determined by the Committee in its discretion, pursuant to the Rules, from time
to time. The Committee may amend (which may have a retroactive effect) the Israeli index base, pursuant to the Ordinance, without
the Grantee’s consent.

 

9.8          
Written Grantee Undertaking. To the extent and with respect to any 102 Trustee Award, and as required by Section
102 of the Ordinance and the Rules, by virtue of the receipt of such Award, the Grantee is deemed to have undertaken and confirm
in writing the following (and such undertaking is deemed incorporated into any documents signed by the Grantee in connection with
the employment or service of the Grantee and/or the grant of such Award). The following written undertaking shall be deemed to
apply and relate to all 102 Trustee Awards granted to the Grantee, whether under this Plan or other plans maintained by the Company,
and whether prior to or after the date hereof.

 

9.8.1          
The Grantee shall comply with all terms and conditions set forth in Section 102 of the Ordinance with regard to the “Capital
Gain Track” or the “Ordinary Income Track”, as applicable, and the applicable rules and regulations promulgated
thereunder, as amended from time to time;

 

9.8.2          
The Grantee is familiar with, and understands the provisions of, Section 102 of the Ordinance in general, and the tax arrangement
under the “Capital Gain Track” or the “Ordinary Income Track” in particular, and its tax consequences;
the Grantee agrees that the 102 Trustee Awards and Shares that may be issued upon exercise or (if applicable) vesting of the 102
Trustee Awards (or otherwise in relation to the 102 Trustee Awards), will be held by a trustee appointed pursuant to Section 102
of the Ordinance for at least the duration of the “Holding Period” (as such term is defined in Section 102) under the
 “Capital Gain Track” or the “Ordinary Income Track”, as applicable. The Grantee understands that any release
of such 102 Trustee Awards or Shares from trust, or any sale of the Share prior to the termination of the Holding Period, as defined
above, will result in taxation at marginal tax rate, in addition to deductions of appropriate social security, health tax contributions
or other compulsory payments; and

 

9.8.3          
The Grantee agrees to the trust deed signed between the Company, his employing company and the trustee appointed pursuant
to Section 102 of the Ordinance.

 

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		10.	3(9) AWARDS.

 

Awards granted pursuant
to this Section 10 are intended to constitute 3(9) Awards and shall be granted subject to the general terms and conditions specified
in Section 6 hereof and other provisions of this Plan, except for any provisions of this Plan applying to Awards under different
tax laws or regulations. In the event of any inconsistency or contradictions between the provisions of this Section 10 and the
other terms of this Plan, this Section 10 shall prevail.

 

10.1        
To the extent required by the Ordinance or the ITA or otherwise deemed by the Committee to be advisable, the 3(9) Awards
and/or any shares or other securities issued or distributed with respect thereto granted pursuant to this Plan shall be issued
to a Trustee nominated by the Committee in accordance with the provisions of the Ordinance. In such event, the Trustee shall hold
such Awards and/or any shares or other securities issued or distributed with respect thereto in trust, until exercised or (if applicable)
vested by the Grantee and the full payment of tax arising therefrom, pursuant to the Company's instructions from time to time as
set forth in a trust agreement, which will have been entered into between the Company and the Trustee. If determined by the Board
or the Committee, and subject to such trust agreement, the Trustee shall be responsible for withholding any taxes to which a Grantee
may become liable upon issuance of Shares, whether due to the exercise or (if applicable) vesting of Awards.

 

10.2       
Shares pursuant to a 3(9) Award shall not be issued, unless the Grantee delivers to the Company payment in cash or by bank
check or such other form acceptable to the Committee of all withholding taxes due, if any, on account of the Grantee acquired Shares
under the Award or gives other assurance satisfactory to the Committee of the payment of those withholding taxes.

 

		11.	RESTRICTED SHARES.

 

The Committee may award
Restricted Shares to any eligible Grantee, including under Section 102 of the Ordinance. Each Award of Restricted Shares under
this Plan shall be evidenced by a written agreement between the Company and the Grantee (the “Restricted Share Agreement”),
in such form as the Committee shall from time to time approve. The Restricted Shares shall be subject to all applicable terms of
this Plan, which in the case of Restricted Shares granted under Section 102 of the Ordinance shall include Section 9 hereof, and
may be subject to any other terms that are not inconsistent with this Plan. The provisions of the various Restricted Shares Agreements
entered into under this Plan need not be identical. The Restricted Share Agreement shall comply with and be subject to Section
6 and the following terms and conditions, unless otherwise specifically provided in such Agreement and not inconsistent with this
Plan, or Applicable Law:

 

11.1        
Purchase Price. Section 6.4 shall not apply. Each Restricted Share Agreement shall state an amount of Exercise Price
to be paid by the Grantee, if any, in consideration for the issuance of the Restricted Shares and the terms of payment thereof,
which may include, payment in cash or, subject to the Committee’s approval, by issuance of promissory notes or other evidence
of indebtedness on such terms and conditions as determined by the Committee.

 

11.2        Restrictions.
Restricted Shares may not be sold, assigned, transferred, pledged, hypothecated or otherwise disposed of, except by will or
the laws of descent and distribution (in which case they shall be transferred subject to all restrictions then or thereafter
applicable thereto), until such Restricted Shares shall have vested (the period from the date on which the Award is granted
until the date of vesting of the Restricted Share thereunder being referred to herein as the “Restricted
Period”). The Committee may also impose such additional or alternative restrictions and conditions on the
Restricted Shares, as it deems appropriate, including the satisfaction of performance criteria. Such performance criteria may
include, but are not limited to, sales, earnings before interest and taxes, return on investment, earnings per share, any
combination of the foregoing or rate of growth of any of the foregoing, as determined by the Committee or pursuant to the
provisions of any Company policy required under mandatory provisions of Applicable Law. Certificates for shares issued
pursuant to Restricted Share Awards, if issued, shall bear an appropriate legend referring to such restrictions, and any
attempt to dispose of any such shares in contravention of such restrictions shall be null and void and without effect. Such
certificates may, if so determined by the Committee, be held in escrow by an escrow agent appointed by the Committee, or, if
a Restricted Share Award is made pursuant to Section 102 of the Ordinance, by the Trustee. In determining the Restricted
Period of an Award the Committee may provide that the foregoing restrictions shall lapse with respect to specified
percentages of the awarded Restricted Shares on successive anniversaries of the date of such Award. To the extent required by
the Ordinance or the ITA, the Restricted Shares issued pursuant to Section 102 of the Ordinance shall be issued to the
Trustee in accordance with the provisions of the Ordinance and the Restricted Shares shall be held for the benefit of the
Grantee for at least the Required Holding Period.

 

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11.3        
Forfeiture; Repurchase. Subject to such exceptions as may be determined by the Committee, if the Grantee's continuous
employment with or service to the Company or any Affiliate thereof shall terminate for any reason prior to the expiration of the
Restricted Period of an Award or prior to the timely payment in full of the Exercise Price of any Restricted Shares, any Shares
remaining subject to vesting or with respect to which the purchase price has not been paid in full, shall thereupon be forfeited,
transferred to, and redeemed, repurchased or cancelled by, as the case may be, in any manner as set forth in Section 6.6.2(i) through
(v), subject to Applicable Laws and the Grantee shall have no further rights with respect to such Restricted Shares.

 

11.4       
Ownership. During the Restricted Period the Grantee shall possess all incidents of ownership of such Restricted Shares,
subject to Section 6.10 and Section 11.2, including the right to vote and receive dividends with respect to such Shares. All securities,
if any, received by a Grantee with respect to Restricted Shares as a result of any stock split, stock dividend, combination of
shares, or other similar transaction shall be subject to the restrictions applicable to the original Award.

 

		12.	RESTRICTED SHARE UNITS.

 

An RSU is an Award
covering a number of Shares that is settled, if vested and (if applicable) exercised, by issuance of those Shares. An RSU may be
awarded to any eligible Grantee, including under Section 102 of the Ordinance, provided that, to the extent required by Applicable
Laws, a specific ruling is obtained from the ITA to grant RSUs as 102 Trustee Awards. The Award Agreement relating to the grant
of RSUs under this Plan (the “Restricted Share Unit Agreement”), shall be in such form as the Committee shall
from time to time approve. The RSUs shall be subject to all applicable terms of this Plan, which in the case of RSUs granted under
Section 102 of the Ordinance shall include Section 9 hereof, and may be subject to any other terms that are not inconsistent with
this Plan. The provisions of the various Restricted Share Unit Agreements entered into under this Plan need not be identical. RSUs
may be granted in consideration of a reduction in the recipient’s other compensation.

 

12.1       
Exercise Price. No payment of Exercise Price shall be required as consideration for RSUs, unless included in the
Award Agreement or as required by Applicable Law (including, Section 304 of the Companies Law, 1999, as amended), and Section 6.4
shall apply, if applicable.

 

12.2       
Shareholders’ Rights. The Grantee shall not possess or own any ownership rights in the Shares underlying the
RSUs and no rights as a shareholder shall exist prior to the actual issuance of Shares in the name of the Grantee.

 

12.3        
Settlements of Awards. Settlement of vested RSUs shall be made in the form of Shares.

 

Distribution to a Grantee
of an amount (or amounts) from settlement of vested RSUs can be deferred to a date after settlement as determined by the Committee.
The amount of a deferred distribution may be increased by an interest factor or by dividend equivalents. Until the grant of RSUs
is settled, the number of Shares underlying such RSUs shall be subject to adjustment pursuant hereto.

 

12.4        
Section 409A Restrictions. Notwithstanding anything to the contrary set forth herein, any

 

RSUs granted under
this Plan that are not exempt from the requirements of Section 409A of the Code shall contain such restrictions or other provisions
so that such RSUs will comply with the requirements of Section 409A of the Code, if applicable to the Company. Such restrictions,
if any, shall be determined by the Committee and contained in the Restricted Share Unit Agreement evidencing such RSU. For example,
such restrictions may include a requirement that any Shares that are to be issued in a year following the year in which the RSU
vests must be issued in accordance with a fixed, pre-determined schedule.

 

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		13.	OTHER SHARE OR SHARE-BASED AWARDS.

 

13.1        
The Committee may grant other Awards under this Plan pursuant to which Shares (which may, but need not, be Restricted Shares
pursuant to Section 11 hereof), cash (in settlement of Share-based Awards) or a combination thereof, are or may in the future be
acquired or received, or Awards denominated in stock units, including units valued on the basis of measures other than market value.

 

13.2       
The Committee may also grant stock appreciation rights without the grant of an accompanying option, which rights shall permit
the Grantees to receive, at the time of any exercise of such rights, cash equal to the amount by which the Fair Market Value of
the Shares in respect to which the right was granted is so exercised exceed the exercise price thereof. The exercise price of any
such stock appreciation right granted to a Grantee who is subject to U.S. federal income tax shall be determined in compliance
with Section 7.2.

 

13.3       
Such other Share-based Awards as set forth above may be granted alone, in addition to, or in tandem with any Award of any
type granted under this Plan.

 

		14.	EFFECT OF CERTAIN CHANGES.

 

14.1       
General. In the event of a division or subdivision of the outstanding share capital of the Company, any distribution
of bonus shares (stock split), consolidation or combination of share capital of the Company (reverse stock split), reclassification
with respect to the Shares or any similar recapitalization events (each, a “Recapitalization”), a merger (including,
a reverse merger and a reverse triangular merger), consolidation, amalgamation or like transaction of the Company with or into
another corporation, a reorganization (which may include a combination or exchange of shares, spin-off or other corporate divestiture
or division, or other similar occurrences, the Committee shall have the authority to make, without the need for a consent of any
holder of an Award, such adjustments as determined by the Committee to be appropriate, in its discretion, in order to adjust (i)
the number and class of shares reserved and available for grants of Awards, (ii) the number and class of shares covered by outstanding
Awards, (iii) the Exercise Price per share covered by any Award, (iv) the terms and conditions concerning vesting and exercisability
and the term and duration of the outstanding Awards, and (v) any other terms of the Award that in the opinion of the Committee
should be adjusted. Any fractional shares resulting from such adjustment shall be treated as determined by the Committee, and in
the absence of such determination shall be rounded to the nearest whole share, and the Company shall have no obligation to make
any cash or other payment with respect to such fractional shares. No adjustment shall be made by reason of the distribution of
subscription rights or rights offering to outstanding shares or other issuance of shares by the Company, unless the Committee determines
otherwise. The adjustments determined pursuant to this Section 14.1 (including a determination that no adjustment is to be made)
shall be final, binding and conclusive.

 

14.2        
Merger/Sale of Company. In the event of (i) a sale of all or substantially all of the assets of the Company, or a
sale (including an exchange) of all or substantially all of the shares of the Company, to any person, or a purchase by a shareholder
of the Company or by an Affiliate of such shareholder, of all the shares of the Company held by all or substantially all other
shareholders or by other shareholders who are not Affiliated with such acquiring party; (ii) a merger (including, a reverse merger
and a reverse triangular merger), consolidation, amalgamation or like transaction of the Company with or into another corporation;
(iii) a scheme of arrangement for the purpose of effecting such sale, merger, consolidation, amalgamation or other transaction;
(iv) approval by the shareholders of the Company of a complete liquidation or dissolution of the Company, or (v) such other transaction
or set of circumstances that is determined by the Board, in its discretion, to be a transaction subject to the provisions of this
Section 14.2 excluding any of the above transactions in clauses (i) through (v) if the Board determines that such transaction should
be excluded from the definition hereof and the applicability of this Section 14.2 (such transaction, a “Merger/Sale”),
then, without derogating from the general authority and power of the Board or the Committee under this Plan, without the Grantee’s
consent and action and without any prior notice requirement:

 

14.2.1        
Unless otherwise determined by the Committee in its sole and absolute discretion, any Award then outstanding shall be assumed
or be substituted by the Company, or by the successor corporation in such Merger/Sale or by any parent or Affiliate thereof, as
determined by the Committee in its discretion (the “Successor Corporation”), under terms as determined by the
Committee or the terms of this Plan applied by the Successor Corporation to such assumed or substituted Awards.

 

    20

     

    

 

For the purposes of
this Section 14.2.1, the Award shall be considered assumed or substituted if, following a Merger/Sale, the Award confers on the
holder thereof the right to purchase or receive, for each Share underlying an Award immediately prior to the Merger/Sale, either
(i) the consideration (whether stock, cash, or other securities or property, or any combination thereof) distributed to or received
by holders of Shares in the Merger/Sale for each Share held on the effective date of the Merger/Sale (and if holders were offered
a choice or several types of consideration, the type of consideration as determined by the Committee), or (ii) regardless of the
consideration received by the holders of Shares in the Merger/Sale, solely shares or any type of Awards (or their equivalent) of
the Successor Corporation at a value to be determined by the Committee in its discretion, or a certain type of consideration (whether
stock, cash, or other securities or property, or any combination thereof) as determined by the Committee. Any of the above consideration
referred to in clauses (i) and (ii) shall be subject to the same vesting and expiration terms of the Awards applying immediately
prior to the Merger/Sale, unless determined by the Committee in its discretion that the consideration shall be subject to different
vesting and expiration terms, or other terms, and the Committee may determine that it be subject to other or additional terms.
The foregoing shall not limit the Committee's authority to determine, in its sole discretion, that in lieu of such assumption or
substitution of Awards for Awards of the Successor Corporation, such Award will be substituted for any other type of asset or property,
including as set forth in Section 14.2.2 hereunder.

 

14.2.2        
Regardless of whether or not Awards are assumed or substituted, the Committee may (but shall not be obligated to), in its
sole discretion:

 

14.2.2.1           
provide for the Grantee to have the right to exercise the Award in respect of Shares covered by the Award which would otherwise
be exercisable or vested, under such terms and conditions as the Committee shall determine, and the cancellation of all unexercised
Awards (whether vested or unvested) upon or immediately prior to the closing of the Merger/Sale, unless the Committee provides
for the Grantee to have the right to exercise the Award, or otherwise for the acceleration of vesting of such Award, as to all
or part of the Shares covered by the Award which would not otherwise be exercisable or vested, under such terms and conditions
as the Committee shall determine; and/or

 

14.2.2.2            
provide for the cancellation of each outstanding Award at or immediately prior to the closing of such Merger/Sale, and payment
to the Grantee of an amount in cash, shares of the Company, the acquirer or of a corporation or other business entity which is
a party to the Merger/Sale or other property, as determined by the Committee to be fair in the circumstances, and subject to such
terms and conditions as determined by the Committee. The Committee shall have full authority to select the method for determining
the payment (being the Black-Scholes model or any other method). The Committee’s determination may further provide that payment
shall be set to zero if the value of the Shares is determined to be less than the Exercise Price or in respect of Shares covered
by the Award which would not otherwise be exercisable or vested, or that payment may be made only in excess of the Exercise Price.

 

14.2.3        
The Committee may, in its sole discretion, determine that any payments made in respect of Awards shall be made or delayed
to the same extent that payment of consideration to the holders of the Shares in connection with the Merger/Sale is made or delayed
as a result of escrows, indemnification, earn outs, holdbacks or any other contingencies; and the terms and conditions applying
to the payment made to the Grantees, including participation in escrow, indemnification, releases, earn-outs, holdbacks or any
other contingencies.

 

14.2.4        
The Committee may, in its sole discretion, determine to suspend the Grantee's rights to exercise any vested portion of an
Award for a period of time prior to the completion of a Merger/Sale transaction.

 

14.2.5        
Notwithstanding anything to the contrary, in the event of a Merger/Sale, the Committee may determine, in its sole discretion,
that upon completion of such Merger/Sale the terms of any Award shall be otherwise amended, modified or terminated, as the Committee
shall deem in good faith to be appropriate and without any liability to the Company or its Affiliates and to their respective officers,
directors, employees and representatives and the respective successors and assigns of any of the foregoing in connection with the
method of treatment or chosen course of action permitted hereunder.

 

    21

     

    

 

14.2.6        
 Neither the authorities and powers of the Committee under this Section 14.2, nor the exercise or implementation thereof,
shall (i) be restricted or limited in any way by any adverse consequences (tax or otherwise) that may result to any holder of an
Award, and (ii) as, inter alia, being a feature of the Award upon its grant, be deemed to constitute a change or an amendment
of the rights of such holder under this Plan, nor shall any such adverse consequences (as well as any adverse tax consequences
that may result from any tax ruling or other approval or determination of any relevant tax authority) be deemed to constitute a
change or an amendment of the rights of such holder under this Plan, and may be effected without consent of any Grantee and without
any liability to the Company or its Affiliates and to their respective its officers, directors, employees and representatives and
the respective successors and assigns of any of the foregoing. The Committee need not take the same action with respect to all
Awards or with respect to all Service Providers. The Committee may take different actions with respect to the vested and unvested
portions of an Award. The Committee may determine an amount or type of consideration to be received or distributed in a Merger/Sale
which may differ as among the Grantees, and as between the Grantees and any other holders of shares of the Company.

 

14.2.7        
The Committee’s determinations pursuant to this Section 14 shall be conclusive and binding on all Grantees.

 

14.2.8        
If determined by the Committee, the Grantees shall be subject to the definitive agreement(s) in connection with the Merger/Sale
as applying to holders of Shares including, such terms, conditions, representations, undertakings, liabilities, limitations, releases,
indemnities, participating in transaction expenses and escrow arrangement, in each case as determined by the Committee. Each Grantee
shall execute such separate agreement(s) or instruments as may be requested by the Company, the Successor Corporation or the acquirer
in connection with such in such Merger/Sale and in the form required by them. The execution of such separate agreement(s) may be
a condition to the receipt of assumed or substituted Awards, payment in lieu of the Award or the exercise of any Award.

 

14.3       
Reservation of Rights. Except as expressly provided in this Section 14 (if any), the Grantee of an Award hereunder
shall have no rights by reason of any Recapitalization of shares of any class, any increase or decrease in the number of shares
of any class, or any dissolution, liquidation, reorganization (which may include a combination or exchange of shares, spin-off
or other corporate divestiture or division, or other similar occurrences), Merger/Sale. Any issue by the Company of shares of any
class, or securities convertible into shares of stock of any class, shall not affect, and no adjustment by reason thereof shall
be made with respect to, the number, type or price of shares subject to an Award. The grant of an Award pursuant to this Plan shall
not affect in any way the right or power of the Company to make adjustments, reclassifications, reorganizations or changes of its
capital or business structures or to merge or to consolidate or to dissolve, liquidate or sell, or transfer all or part of its
business or assets or engage in any similar transactions.

 

		15.	NON-TRANSFERABILITY OF AWARDS; SURVIVING BENEFICIARY.

 

15.1        All
Awards granted under this Plan by their terms shall not be transferable other than by will or by the laws of descent and
distribution, unless otherwise determined by the Committee or under this Plan, provided that with respect to Shares issued
upon exercise or (if applicable) the vesting of Awards the restrictions on transfer shall be the restrictions referred to in
Section 16 (Conditions upon Issuance of Shares) hereof. Subject to the above provisions, the terms of such Award, this Plan
and any applicable Award Agreement shall be binding upon the beneficiaries, executors, administrators, heirs and successors
of such Grantee. Awards may be exercised or otherwise realized, during the lifetime of the Grantee, only by the Grantee or by
his guardian or legal representative, to the extent provided for herein. Any transfer of an Award not permitted hereunder
(including transfers pursuant to any decree of divorce, dissolution or separate maintenance, any property settlement, any
separation agreement or any other agreement with a spouse) and any grant of any interest in any Award to, or creation in any
way of any direct or indirect interest in any Award by, any party other than the Grantee shall be null and void and shall not
confer upon any party or person, other than the Grantee, any rights. A Grantee may file with the Committee a written
designation of a beneficiary, who shall be permitted to exercise such Grantee’s Award or to whom any benefit under this
Plan is to be paid, in each case, in the event of the Grantee’s death before he or she fully exercises his or her Award
or receives any or all of such benefit, on such form as may be prescribed by the Committee and may, from time to time, amend
or revoke such designation. If no designated beneficiary survives the Grantee, the executor or administrator of the Grantee's
estate shall be deemed to be the Grantee's beneficiary. Notwithstanding the foregoing, upon the request of the Grantee and
subject to Applicable Law the Committee, at its sole discretion, may permit the Grantee to transfer the Award to a trust
whose beneficiaries are the Grantee and/or the Grantee’s immediate family members (all or several of them).

 

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15.2        
Notwithstanding any other provisions of the Plan to the contrary, no Incentive Stock Option may be sold, transferred, pledged,
assigned or otherwise alienated or hypothecated, other than by will or by the laws of descent and distribution or in accordance
with a beneficiary designation pursuant to Section 15.1. Further, all Incentive Stock Options granted to a Grantee shall be exercisable
during his or her lifetime only by such Grantee.

 

15.3       
As long as the Shares are held by the Trustee in favor of the Grantee, all rights possessed by the Grantee over the Shares
are personal, and may not be transferred, assigned, pledged or mortgaged, other than by will or laws of descent and distribution.

 

15.4        
If and to the extent a Grantee is entitled to transfer an Award and/or Shares underlying an Award in accordance with the
terms of the Plan and any other applicable agreements, such transfer shall be subject (in addition, to any other conditions or
terms applying thereto) to receipt by the Company from such proposed transferee of a written instrument, on a form reasonably acceptable
to the Company, pursuant to which such proposed transferee agrees to be bound by all provisions of the Plan and any other applicable
agreements, including without limitation, any restrictions on transfer of the Award and/or Shares set forth herein (however, failure
to so deliver such instrument to the Company as set forth above shall not derogate from all such provisions applying on any transferee).

 

15.5        
The provisions of this Section 15 shall apply to the Grantee and to any purchaser, assignee or transferee of any Shares.

 

		16.	CONDITIONS UPON ISSUANCE OF SHARES; GOVERNING PROVISIONS.

 

16.1        
Legal Compliance. The grant of Awards and the issuance of Shares upon exercise or settlement of Awards shall be subject
to compliance with all Applicable Laws as determined by the Company, including, applicable requirements of federal, state and foreign
law with respect to such securities. The Company shall have no obligations to issue Shares pursuant to the exercise or settlement
of an Award and Awards may not be exercised or settled, if the issuance of Shares upon exercise or settlement would constitute
a violation of any Applicable Laws as determined by the Company, including, applicable federal, state or foreign securities laws
or other law or regulations or the requirements of any stock exchange or market system upon which the Shares may then be listed.
In addition, no Award may be exercised unless (i) a registration statement under the Securities Act shall at the time of exercise
or settlement of the Award be in effect with respect to the shares issuable upon exercise of the Award, or (ii) in the opinion
of legal counsel to the Company, the shares issuable upon exercise of the Award may be issued in accordance with the terms of an
applicable exemption from the registration requirements of the Securities Act. The inability of the Company to obtain authority
from any regulatory body having jurisdiction, if any, deemed by the Company to be necessary to the lawful issuance and sale of
any Shares hereunder, and the inability to issue Shares hereunder due to non-compliance with any Company policies with respect
to the sale of Shares, shall relieve the Company of any liability in respect of the failure to issue or sell such Shares as to
which such requisite authority or compliance shall not have been obtained or achieved. As a condition to the exercise of an Award,
the Company may require the person exercising such Award to satisfy any qualifications that may be necessary or appropriate, to
evidence compliance with any Applicable Law or regulation and to make any representation or warranty with respect thereto as may
be requested by the Company, including to represent and warrant at the time of any such exercise that the Shares are being purchased
only for investment and without any present intention to sell or distribute such Shares, all in form and content specified by the
Company.

 

16.2        Provisions
Governing Shares. Shares issued pursuant to an Award shall be subject to the Articles of Association of the Company, any
limitation, restriction or obligation included in any shareholders agreement applicable to all or substantially all of the
holders of shares (regardless of whether or not the Grantee is a formal party to such shareholders agreement), any other
governing documents of the Company, all policies, manuals and internal regulations adopted by the Company from time to time,
in each case, as may be amended from time to time, including any provisions included therein concerning restrictions or
limitations on disposition of Shares (such as, but not limited to, right of first refusal and lock up/market stand-off) or
grant of any rights with respect thereto, forced sale and bring along provisions, any provisions concerning restrictions on
the use of inside information and other provisions deemed by the Company to be appropriate in order to ensure compliance with
Applicable Laws. Each Grantee shall execute such separate agreement(s) as may be requested by the Company relating to matters
set forth in this Section 16.2. The execution of such separate agreement(s) may be a condition by the Company to the exercise
of any Award.

 

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16.3        
Forced Sale. In the event the that Board approves a Merger/Sale effected by way of a forced or compulsory sale (whether
pursuant to the Company’s Articles of Association or pursuant to Section 341 of the Companies Law), then, without derogating
from such provisions and in addition thereto, the Grantee shall be obligated, and shall be deemed to have agreed to the offer to
effect the Merger/Sale on the terms approved by the Board (and the Shares held by or for the benefit of the Grantee shall be included
in the shares of the Company approving the terms of such Merger/Sale for the purpose of satisfying the required majority), and
shall sell all of the Shares held by or for the benefit of the Grantee on the terms and conditions applying to the holders of Shares,
in accordance with the instructions then issued by the Board, whose determination shall be final. No Grantee shall contest, bring
any claims or demands, or exercise any appraisal rights related to any of the foregoing. The proxy pursuant to Section 6.10 includes
an authorization of the holder of such proxy to sign, by and on behalf of any Grantee, such documents and agreements as are required
to affect the sale of Shares in connection with such Merger/Sale.

 

		17.	MARKET STAND-OFF

 

17.1       
In connection with any underwritten public offering of equity securities of the Company pursuant to an effective registration
statement filed under the Securities Act or equivalent law in another jurisdiction, the Grantee shall not directly or indirectly,
without the prior written consent of the Company or its underwriters, (i) lend, offer, pledge, sell, contract to sell, sell any
option or contract to purchase, purchase any option or contract to sell, grant any option, right or warrant to purchase, or otherwise
transfer or dispose of, directly or indirectly, any Shares or other Awards, any securities of the Company (whether or not such
Shares were acquired under this Plan), or any securities convertible into or exercisable or exchangeable (directly or indirectly)
for Shares or securities of the Company and any other shares or securities issued or distributed in respect thereto or in substitution
thereof (collectively, “Securities”), or (ii) enter into any swap or other arrangement that transfers to another,
in whole or in part, any of the economic consequences of ownership of the Securities, whether any such transaction described in
clauses (i) or (ii) is to be settled by delivery of Securities, in cash or otherwise. The foregoing provisions of this Section
17.1 shall not apply to the sale of any shares to an underwriter pursuant to an underwriting agreement. Such restrictions (the
 “Market Stand-Off”) shall be in effect for such period of time (the “Market Stand-Off Period”):
(A) following the first public filing of the registration statement relating to the underwritten public offering until the extirpation
of 180 days following the effective date of such registration statement relating to the Company’s initial public offering
or 90 days following the effective date of such registration statement relating to any other public offering, in each case, provided,
however, that if (1) during the last 17 days of the initial Market Stand-Off Period, the Company releases earnings results or announces
material news or a material event or (2) prior to the expiration of the initial Market Stand-Off Period, the Company announces
that it will release earnings results during the 15-day period following the last day of the initial Market Stand-Off Period, then
in each case the Market Stand-Off Period will be automatically extended until the expiration of the 18-day period beginning on
the date of release of the earnings results or the announcement of the material news or material event; or (B) such other period
as shall be requested by the Company or the underwriters. Notwithstanding anything herein to the contrary, if the underwriter(s)
and the Company agree on a termination date of the Market Stand-Off Period in the event of failure to consummate a certain public
offering, then such termination shall apply also to the Market Stand-Off Period hereunder with respect to that particular public
offering.

 

17.2       
In the event of a subdivision of the outstanding share capital of the Company, the distribution of any securities (whether
or not of the Company), whether as bonus shares or otherwise, and whether as dividend or otherwise, a recapitalization, a reorganization
(which may include a combination or exchange of shares or a similar transaction affecting the Company’s outstanding securities
without receipt of consideration), a consolidation, a spin-off or other corporate divestiture or division, a reclassification or
other similar occurrence, any new, substituted or additional securities which are by reason of such transaction distributed with
respect to any Shares subject to the Market Stand-Off, or into which such Shares thereby become convertible, shall immediately
be subject to the Market Stand-Off.

 

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17.3        
 In order to enforce the Market Stand-Off, the Company may impose stop-transfer instructions with respect to the Shares
acquired under this Plan until the end of the applicable Market Stand-Off period.

 

17.4        
The underwriters in connection with a registration statement so filed are intended third party beneficiaries of this Section
17 and shall have the right, power and authority to enforce the provisions hereof as though they were a party hereto. Each Grantee
shall execute such separate agreement(s) as may be requested by the Company or the underwriters in connection with such registration
statement and in the form required by them, relating to Market Stand-Off (which need not be identical to the provisions of this
Section 17, and may include such additional provisions and restrictions as the underwriters deem advisable) or that are necessary
to give further effect thereto. The execution of such separate agreement(s) may be a condition by the Company to the exercise of
any Award.

 

17.5        
Without derogating from the above provisions of this Section 17 or elsewhere in this Plan, the provisions of this Section
17 shall apply to the Grantee and the Grantee’s heirs, legal representatives, successors, assigns, and to any purchaser,
assignee or transferee of any Awards or Shares.

 

		18.	AGREEMENT REGARDING TAXES; DISCLAIMER.

 

18.1        
If the Committee shall so require, as a condition of exercise of an Award, the release of Shares by the Trustee or the expiration
of the Restricted Period, a Grantee shall agree that, no later than the date of such occurrence, the Grantee will pay to the Company
(or the Trustee, as applicable) or make arrangements satisfactory to the Committee and the Trustee (if applicable) regarding payment
of any applicable taxes and compulsory payments of any kind required by Applicable Law to be withheld or paid.

 

18.2        
TAX LIABILITY. ALL TAX CONSEQUENCES UNDER ANY APPLICABLE LAW WHICH MAY ARISE FROM THE GRANT OF ANY AWARDS OR THE
EXERCISE THEREOF, THE SALE OR DISPOSITION OF ANY SHARES GRANTED HEREUNDER OR ISSUED UPON EXERCISE OR (IF APPLICABLE) THE VESTING
OF ANY AWARD, THE ASSUMPTION, SUBSTITUTION, CANCELLATION OR PAYMENT IN LIEU OF AWARDS OR FROM ANY OTHER ACTION IN CONNECTION WITH
THE FOREGOING (INCLUDING WITHOUT LIMITATION ANY TAXES AND COMPULSORY PAYMENTS, SUCH AS SOCIAL SECURITY OR HEALTH TAX PAYABLE BY
THE GRANTEE OR THE COMPANY IN CONNECTION THEREWITH) SHALL BE BORNE AND PAID SOLELY BY THE GRANTEE, AND THE GRANTEE SHALL INDEMNIFY
THE COMPANY, ITS SUBSIDIARIES AND AFFILIATES AND THE TRUSTEE, AND SHALL HOLD THEM HARMLESS AGAINST AND FROM ANY LIABILITY FOR ANY
SUCH TAX OR PAYMENT OR ANY PENALTY, INTEREST OR INDEXATION THEREON. EACH GRANTEE AGREES TO, AND UNDERTAKES TO COMPLY WITH, ANY
RULING, SETTLEMENT, CLOSING AGREEMENT OR OTHER SIMILAR AGREEMENT OR ARRANGEMENT WITH ANY TAX AUTHORITY IN CONNECTION WITH THE FOREGOING
WHICH IS APPROVED BY THE COMPANY.

 

18.3        
NO TAX ADVICE. THE GRANTEE IS ADVISED TO CONSULT WITH A TAX ADVISOR WITH RESPECT TO THE TAX CONSEQUENCES OF RECEIVING,
EXERCISING OR DISPOSING OF AWARDS HEREUNDER. THE COMPANY DOES NOT ASSUME ANY RESPONSIBILITY TO ADVISE THE GRANTEE ON SUCH MATTERS,
WHICH SHALL REMAIN SOLELY THE RESPONSIBILITY OF THE GRANTEE.

 

18.4        TAX
TREATMENT. THE COMPANY DOES NOT UNDERTAKE OR ASSUME ANY LIABILITY OR RESPONSIBILITY TO THE EFFECT THAT ANY AWARD SHALL
QUALIFY WITH ANY PARTICULAR TAX REGIME OR RULES APPLYING TO PARTICULAR TAX TREATMENT, OR BENEFIT FROM ANY PARTICULAR TAX
TREATMENT OR TAX ADVANTAGE OF ANY TYPE AND THE COMPANY SHALL BEAR NO LIABILITY IN CONNECTION WITH THE MANNER IN WHICH ANY
AWARD IS EVENTUALLY TREATED FOR TAX PURPOSES, REGARDLESS OF WHETHER THE AWARD WAS GRANTED OR WAS INTENDED TO QUALIFY UNDER
ANY PARTICULAR TAX REGIME OR TREATMENT. THIS PROVISION SHALL SUPERSEDE ANY TYPE OF AWARDS OR TAX QUALIFICATION INDICATED IN
ANY CORPORATE RESOLUTION OR AWARD AGREEMENT, WHICH SHALL AT ALL TIMES BE SUBJECT TO THE REQUIREMENTS OF APPLICABLE LAW. THE
COMPANY DOES NOT UNDERTAKE AND SHALL NOT BE REQUIRED TO TAKE ANY ACTION IN ORDER TO QUALIFY THE AWARD WITH THE REQUIREMENT OF
ANY PARTICULAR TAX TREATMENT AND NO INDICATION IN ANY DOCUMENT TO THE EFFECT THAT ANY AWARD IS INTENDED TO QUALIFY FOR ANY
TAX TREATMENT SHALL IMPLY SUCH AN UNDERTAKING. NO ASSURANCE IS MADE BY THE COMPANY OR ANY OF ITS AFFILIATES THAT ANY
PARTICULAR TAX TREATMENT ON THE DATE OF GRANT WILL CONTINUE TO EXIST OR THAT THE AWARD WOULD QUALIFY AT THE TIME OF EXERCISE
OR DISPOSITION THEREOF WITH ANY PARTICULAR TAX TREATMENT. THE COMPANY AND ITS AFFILIATES SHALL NOT HAVE ANY LIABILITY OR
OBLIGATION OF ANY NATURE IN THE EVENT THAT AN AWARD DOES NOT QUALIFY FOR ANY PARTICULAR TAX TREATMENT, REGARDLESS WHETHER THE
COMPANY COULD HAVE OR SHOULD HAVE TAKEN ANY ACTION TO CAUSE SUCH QUALIFICATION TO BE MET AND SUCH QUALIFICATION REMAINS AT
ALL TIMES AND UNDER ALL CIRCUMSTANCES AT THE RISK OF THE GRANTEE. THE COMPANY DOES NOT UNDERTAKE OR ASSUME ANY LIABILITY TO
CONTEST A DETERMINATION OR INTERPRETATION (WHETHER WRITTEN OR UNWRITTEN) OF ANY TAX AUTHORITIES, INCLUDING IN RESPECT OF THE
QUALIFICATION UNDER ANY PARTICULAR TAX REGIME OR RULES APPLYING TO PARTICULAR TAX TREATMENT. IF THE AWARDS DO NOT QUALIFY
UNDER ANY PARTICULAR TAX TREATMENT IT COULD RESULT IN ADVERSE TAX CONSEQUENCES TO THE GRANTEE.

 

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18.5        
The Company or any Subsidiary or Affiliate may take such action as it may deem necessary or appropriate, in its discretion,
for the purpose of or in connection with withholding of any taxes and compulsory payments which the Trustee, the Company or any
Subsidiary or Affiliate is required by any Applicable Law to withhold in connection with any Awards (collectively, “Withholding
Obligations”). Such actions may include (i) requiring a Grantees to remit to the Company in cash an amount sufficient
to satisfy such Withholding Obligations and any other taxes and compulsory payments, payable by the Company in connection with
the Award or the exercise or (if applicable) the vesting thereof; (ii) subject to Applicable Law, allowing the Grantees to provide
Shares to the Company, in an amount that at such time, reflects a value that the Committee determines to be sufficient to satisfy
such Withholding Obligations; (iii) withholding Shares otherwise issuable upon the exercise of an Award at a value which is determined
by the Committee to be sufficient to satisfy such Withholding Obligations; or (iv) any combination of the foregoing. The Company
shall not be obligated to allow the exercise of any Award by or on behalf of a Grantee until all tax consequences arising from
the exercise of such Award are resolved in a manner acceptable to the Company.

 

18.6        
Each Grantee shall notify the Company in writing promptly and in any event within ten (10) days after the date on which
such Grantee first obtains knowledge of any tax bureau inquiry, audit, assertion, determination, investigation, or question relating
in any manner to the Awards granted or received hereunder or Shares issued thereunder and shall continuously inform the Company
of any developments, proceedings, discussions and negotiations relating to such matter, and shall allow the Company and its representatives
to participate in any proceedings and discussions concerning such matters. Upon request, a Grantee shall provide to the Company
any information or document relating to any matter described in the preceding sentence, which the Company, in its discretion, requires.

 

18.7        
With respect to 102 Non-Trustee Options, if the Grantee ceases to be employed by the Company or any Affiliate, the Grantee
shall extend to the Company and/or its Affiliate with whom the Grantee is employed a security or guarantee for the payment of taxes
due at the time of sale of Shares, all in accordance with the provisions of Section 102 of the Ordinance and the Rules.

 

18.8       
For the purpose hereof “tax(es)” means (a) all federal, state, local or foreign taxes, charges, fees, imposts,
levies or other assessments, including all income, capital gains, transfer, withholding, payroll, employment, social security,
national security, health tax, wealth surtax, stamp, registration and estimated taxes, customs duties, fees, assessments and charges
of any similar kind whatsoever (including under Section 280G of the Code), (b) all interest, indexation differentials, penalties,
fines, additions to tax or additional amounts imposed by any taxing authority in connection with any item described in clause (a),
(c) any transferee or successor liability in respect of any items described in clauses (a) or (b) payable by reason of contract,
assumption, transferee liability, successor liability, operation of Applicable Law, or as a result of any express or implied obligation
to assume Taxes or to indemnify any other person, and (d) any liability for the payment of any amounts of the type described in
clause (a) or (b) payable as a result of being a member of an affiliated, consolidated, combined, unitary or aggregate group for
any taxable period, including under U.S. Treasury Regulations Section 1.1502-6(a) (or any predecessor or successor thereof of any
analogous or similar provision under Law) or otherwise.

 

    26

     

    

 

18.9        
 If a Grantee makes an election under Section 83(b) of the Code to be taxed with respect to an Award as of the date of transfer
of Shares rather than as of the date or dates upon which the Grantee would otherwise be taxable under Section 83(a) of the Code,
such Grantee shall deliver a copy of such election to the Company upon or prior to the filing such election with the U.S. Internal
Revenue Service. Neither the Company nor any Affiliate shall have any liability or responsibility relating to or arising out of
the filing or not filing of any such election or any defects in its construction.

 

		19.	RIGHTS AS A SHAREHOLDER; VOTING AND DIVIDENDS.

 

19.1        
Subject to Section 11.4, a Grantee shall have no rights as a shareholder of the Company with respect to any Shares covered
by an Award until the Grantee shall have exercised the Award, paid the Exercise Price therefor and becomes the record holder of
the subject Shares. In the case of 102 Awards or 3(9) Awards (if such Awards are being held by a Trustee), the Trustee shall have
no rights as a shareholder of the Company with respect to the Shares covered by such Award until the Trustee becomes the record
holder for such Shares for the Grantee’s benefit, and the Grantee shall not be deemed to be a shareholder and shall have
no rights as a shareholder of the Company with respect to the Shares covered by the Award until the date of the release of such
Shares from the Trustee to the Grantee and the transfer of record ownership of such Shares to the Grantee (provided however that
the Grantee shall be entitled to receive from the Trustee any cash dividend or distribution made on account of the Shares held
by the Trustee for such Grantee’s benefit, subject to any tax withholding and compulsory payment). No adjustment shall be
made for dividends (ordinary or extraordinary, whether in cash, securities or other property) or distribution of other rights for
which the record date is prior to the date on which the Grantee or Trustee (as applicable) becomes the record holder of the Shares
covered by an Award, except as provided in Section 14 hereof.

 

19.2        
With respect to all Awards issued in the form of Shares hereunder or upon the exercise or (if applicable) the vesting of
Awards hereunder, any and all voting rights attached to such Shares shall be subject to Section 6.9, and the Grantee shall be entitled
to receive dividends distributed with respect to such Shares, subject to the provisions of the Company’s Articles of Association,
as amended from time to time, and subject to any Applicable Law.

 

19.3        
The Company may, but shall not be obligated to, register or qualify the sale of Shares under any applicable securities law
or any other Applicable Law.

 

		20.	NO REPRESENTATION BY COMPANY.

 

By granting the Awards, the Company is
not, and shall not be deemed as, making any representation or warranties to the Grantee regarding the Company, its business affairs,
its prospects or the future value of its Shares. The Company shall not be required to provide to any Grantee any information, documents
or material in connection with the Grantee’s considering an exercise of an Award. To the extent that any information, documents
or materials are provided, the Company shall have no liability with respect thereto. Any decision by a Grantee to exercise an Award
shall solely be at the risk of the Grantee.

 

		21.	NO RETENTION RIGHTS.

 

Nothing in this Plan, any Award Agreement
or in any Award granted or agreement entered into pursuant hereto shall confer upon any Grantee the right to continue in the employ
of, or be in the service of the Company or any Subsidiary or Affiliate thereof as a Service Provider or to be entitled to any remuneration
or benefits not set forth in this Plan or such agreement, or to interfere with or limit in any way the right of the Company or
any such Subsidiary or Affiliate to terminate such Grantee's employment or service (including, any right of the Company or any
of its Affiliates to immediately cease the Grantee’s employment or service or to shorten all or part of the notice period,
regardless of whether notice of termination was given by the Company or its Affiliates or by the Grantee). Awards granted under
this Plan shall not be affected by any change in duties or position of a Grantee, subject to Sections 6.6 through

 

21.1         No
Grantee shall be entitled to claim and the Grantee hereby waives any claim against the Company or any Subsidiary or Affiliate
that he or she was prevented from continuing to vest Awards as of the date of termination of his or her employment with, or
services to, the Company or any Subsidiary or Affiliate. No Grantee shall be entitled to any compensation in respect of the
Awards which would have vested had such Grantee’s employment or engagement with the Company (or any Subsidiary or
Affiliate) not been terminated.

 

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		22.	PERIOD DURING WHICH AWARDS MAY BE GRANTED.

 

Awards may be granted pursuant to this
Plan from time to time within a period of ten (10) years from the Effective Date, which period may be extended from time to time
by the Board. From and after such date (as extended) no grants of Awards may be made and this Plan shall continue to be in full
force and effect with respect to Awards or Shares issued thereunder that remain outstanding.

 

		23.	AMENDMENT OF THIS PLAN AND AWARDS.

 

23.1        
The Board at any time and from time to time may suspend, terminate, modify or amend this Plan, whether retroactively or
prospectively. Any amendment effected in accordance with this Section shall be binding upon all Grantees and all Awards, whether
granted prior to or after the date of such amendment, and without the need to obtain the consent of any Grantee. No termination
or amendment of this Plan shall affect any then outstanding Award unless expressly provided by the Board.

 

23.2        
Subject to changes in Applicable Law that would permit otherwise, without the approval of the Company’s shareholders,
there shall be (i) no increase in the maximum aggregate number of Shares that may be issued under this Plan as Incentive Stock
Options (except by operation of the provisions of Section 14.1), (ii) no change in the class of persons eligible to receive Incentive
Stock Options, and (iii) no other amendment of this Plan that would require approval of the Company’s shareholders under
any Applicable Law. Unless not permitted by Applicable Law, if the grant of an Award is subject to approval by shareholders, the
date of grant of the Award shall be determined as if the Award had not been subject to such approval. Failure to obtain approval
by the shareholders shall not in any way derogate from the valid and binding effect of any grant of an Award, which is not an Incentive
Stock Option. Upon approval of an amendment to this Plan by the shareholders of the Company as set forth above, all Incentive Stock
Options granted under this Plan on or after such amendment shall be fully effective as if the shareholders of the Company had approved
the amendment on the same date.

 

23.3        
The Board or the Committee at any time and from time to time may modify or amend any Award theretofore granted, including
any Award Agreement, whether retroactively or prospectively.

 

		24.	APPROVAL.

 

24.1         
This Plan shall take effect upon its adoption by the Board (the “Effective Date”).

 

24.2        
Solely with respect to grants of Incentive Stock Options, this Plan shall also be subject to shareholders’ approval,
within one year of the Effective Date, by a majority of the votes cast on the proposal at a meeting or a written consent of shareholders
(however, if the grant of an Award is subject to approval by shareholders, the date of grant of the Award shall be determined as
if the Award had not been subject to such approval). Failure to obtain such approval by the shareholders within such period shall
not in any way derogate from the valid and binding effect of any grant of an Award, except that any Options previously granted
under this Plan may not qualify as Incentive Stock Options but, rather, shall constitute Nonqualified Stock Options. Upon approval
of this Plan by the shareholders of the Company as set forth above, all Incentive Stock Options granted under this Plan on or after
the Effective Date shall be fully effective as if the shareholders of the Company had approved this Plan on the Effective Date.

 

24.3        
102 Awards are conditional upon the filing with or approval by the ITA, if required, as set forth in Section 9.4. Failure
to so file or obtain such approval shall not in any way derogate from the valid and binding effect of any grant of an Award, which
is not an 102 Award.

 

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		25.	RULES PARTICULAR TO SPECIFIC COUNTRIES; SECTION 409A.

 

25.1        
Notwithstanding anything herein to the contrary, the terms and conditions of this Plan may be supplemented or amended with
respect to a particular country or tax regime by means of an appendix to this Plan, and to the extent that the terms and conditions
set forth in any appendix conflict with any provisions of this Plan, the provisions of such appendix shall govern. Terms and conditions
set forth in such appendix shall apply only to Awards granted to Grantees under the jurisdiction of the specific country or such
other tax regime that is the subject of such appendix and shall not apply to Awards issued to a Grantee not under the jurisdiction
of such country or such other tax regime. The adoption of any such appendix shall be subject to the approval of the Board or the
Committee, and if determined by the Committee to be required in connection with the application of certain tax treatment, pursuant
to applicable stock exchange rules or regulations or otherwise, then also the approval of the shareholders of the Company at the
required majority.

 

25.2        
This Section 25.2 shall only apply to Awards granted to Grantees who are subject to United States Federal income tax.

 

25.2.1        
It is the intention of the Company that no Award shall be deferred compensation subject to Code Section 409A unless and
to the extent that the Committee specifically determines otherwise as provided in Section 25.2.2, and the Plan and the terms and
conditions of all Awards shall be interpreted and administered accordingly.

 

25.2.2        
The terms and conditions governing any Awards that the Committee determines will be subject to Section 409A of the Code,
including any rules for payment or elective or mandatory deferral of the payment or delivery of Shares or cash pursuant thereto,
and any rules regarding treatment of such Awards in the event of a Change in Control, shall be set forth in the applicable Award
Agreement and shall be intended to comply in all respects with Section 409A of the Code, and the Plan and the terms and conditions
of such Awards shall be interpreted and administered accordingly.

 

25.2.3        
The Company shall have complete discretion to interpret and construe the Plan and any Award Agreement in any manner that
establishes an exemption from (or compliance with) the requirements of Code Section 409A. If for any reason, such as imprecision
in drafting, any provision of the Plan and/or any Award Agreement does not accurately reflect its intended establishment of an
exemption from (or compliance with) Code Section 409A, as demonstrated by consistent interpretations or other evidence of intent,
such provision shall be considered ambiguous as to its exemption from (or compliance with) Code Section 409A and shall be interpreted
by the Company in a manner consistent with such intent, as determined in the discretion of the Company. If, notwithstanding the
foregoing provisions of this Section 25.2.3, any provision of the Plan or any such agreement would cause a Grantee to incur any
additional tax or interest under Code Section 409A, the Company shall reform such provision in a manner intended to avoid the incurrence
by such Grantee of any such additional tax or interest; provided that the Company shall maintain, to the extent reasonably
practicable, the original intent and economic benefit to the Grantee of the applicable provision without violating the provisions
of Code Section 409A.

  

25.2.4         
Notwithstanding any other provision in the Plan, any Award Agreement, or any other written document establishing the terms
and conditions of an Award, if any Grantee is a “specified employee,” within the meaning of Section 409A of the Code,
as of the date of his or her “separation from service” (as defined under Section 409A of the Code), then, to the extent
required by Treasury Regulation Section 1.409A-3(i)(2) (or any successor provision), any payment made to such Grantee on account
of his or her separation from service shall not be made before a date that is six months after the date of his or her separation
from service. The Committee may elect any of the methods of applying this rule that are permitted under Treasury Regulation Section
1.409A-3(i)(2)(ii) (or any successor provision).

 

25.2.5         Notwithstanding
any other provision of this Section 25.2 to the contrary, although the Company intends to administer the Plan so that Awards
will be exempt from, or will comply with, the requirements of Code Section 409A, the Company does not warrant that any Award
under the Plan will qualify for favorable tax treatment under Code Section 409A or any other provision of federal, state,
local, or non-United States law. The Company shall not be liable to any Grantee for any tax, interest, or penalties the
Grantee might owe as a result of the grant, holding, vesting, exercise, or payment of any Award under the Plan.

 

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		26.	GOVERNING LAW; JURISDICTION.

 

This Plan and all determinations made and
actions taken pursuant hereto shall be governed by the laws of the State of Israel, except with respect to matters that are subject
to tax laws, regulations and rules of any specific jurisdiction, which shall be governed by the respective laws, regulations and
rules of such jurisdiction. Certain definitions, which refer to laws other than the laws of such jurisdiction, shall be construed
in accordance with such other laws. The competent courts located in Tel-Aviv-Jaffa, Israel shall have exclusive jurisdiction over
any dispute arising out of or in connection with this Plan and any Award granted hereunder. By signing any Award Agreement or any
other agreement relating to an Award, each Grantee irrevocably submits to such exclusive jurisdiction.

 

		27.	NON-EXCLUSIVITY OF THIS PLAN.

 

The adoption of this Plan shall not be
construed as creating any limitations on the power or authority of the Company to adopt such other or additional incentive or other
compensation arrangements of whatever nature as the Company may deem necessary or desirable or preclude or limit the continuation
of any other plan, practice or arrangement for the payment of compensation or fringe benefits to employees generally, or to any
class or group of employees, which the Company or any Affiliate now has lawfully put into effect, including any retirement, pension,
savings and stock purchase plan, insurance, death and disability benefits and executive short-term or long-term incentive plans.

 

		28.	MISCELLANEOUS.

 

28.1        
Survival. The Grantee shall be bound by and the Shares issued upon exercise or (if applicable) the vesting of any
Awards granted hereunder shall remain subject to this Plan after the exercise or (if applicable) the vesting of Awards, in accordance
with the terms of this Plan, whether or not the Grantee is then or at any time thereafter employed or engaged by the Company or
any of its Affiliates.

 

28.2        
Additional Terms. Each Award awarded under this Plan may contain such other terms and conditions not inconsistent
with this Plan as may be determined by the Committee, in its sole discretion.

 

28.3        
Fractional Shares. No fractional Share shall be issuable upon exercise or vesting of any Award and the number of
Shares to be issued shall be rounded down to the nearest whole Share, with in any Share remaining at the last vesting date due
to such rounding to be issued upon exercise at such last vesting date.

 

28.4       
Severability. If any provision of this Plan, any Award Agreement or any other agreement entered into in connection
with an Award shall be determined to be illegal or unenforceable by any court of law in any jurisdiction, the remaining provisions
hereof and thereof shall be severable and enforceable in accordance with their terms, and all provisions shall remain enforceable
in any other jurisdiction. In addition, if any particular provision contained in this Plan, any Award Agreement or any other agreement
entered into in connection with an Award shall for any reason be held to be excessively broad as to duration, geographic scope,
activity or subject, it shall be construed by limiting and reducing such provision as to such characteristic so that the provision
is enforceable to fullest extent compatible with Applicable Law as it shall then appear.

 

28.5       
Captions and Titles. The use of captions and titles in this Plan or any Award Agreement or any other agreement entered
into in connection with an Award is for the convenience of reference only and shall not affect the meaning or interpretation of
any provision of this Plan or such agreement.

 

*     *     *

 

    30Exhibit 10.5

 

EMPLOYMENT
AGREEMENT1

 

THIS
EMPLOYMENT AGREEMENT (this "Agreement")
is made and entered into on this
25th day of April, 2013, by and between ChemomAB Ltd., a company organized under the laws of the State of Israel
(the "Company")
and Adi Mor George, Israeli I.D No. 043017318, residing at 9 Mizan St., Tel-Aviv, Israel (the "Employee").
The Company and Employee shall be sometimes referred to each as a "Party"
and collectively as the "Parties".

 

WHEREAS,
the Company desires to employ Employee on the terms and conditions set forth herein and Employee desires to be employed
by the Company and enter into this Agreement on such terms and conditions;

 

NOW,
THEREFORE, in consideration of the mutual undertakings of the Parties, it is hereby agreed as follows:

 

1.        
DUTIES AND RESPONSIBILITIES

 

1.1.   
Commencing as of April 1, 2013(the "Effective
Date"). Employee shall be employed by the Company as its Chief Executive Officer and Chief Scientific Officer (the
"Position").

 

1.2.   
Within the scope of the Position, Employee shall report to the Company's Board of Directors (the "Board"),
and shall perform such duties and activities as are customarily performed by a chief executive officer of a company operating in
the Company's field and as shall be directed from time to time by the Board, including the activities set forth in Schedule 1.2.

 

1.3.   
Employee shall be employed on a foil-time basis. So long as Employee is employed by foe Company, Employee shall devote her
entire working time and best efforts to the business and affairs of the Company and the performance of Employee's duties hereunder,
and shall: (؛) not undertake or accept any other employment or paid occupation (ii) refrain from engaging in any business
or other activity which may be of conflict of interest with Employee's position with the Company, the performance of her duties
and responsibilities pursuant to this Agreement and/or with the best interests of the Company; and (iii) promptly notify the Company
of any such matter or activity.

 

1.4.   
Employee acknowledges and agrees that foe performance of Employee's duties may also require travel within and outside of
Israel, at foe Company's request and expense.

 

2.        
EMPLOYEE REPRESENTATIONS AND WARRANTIES

 

Employee
hereby represents and warrants to the Company as follows:

 

2.1.   
Employee has the necessary skills, knowledge, ability, expertise and experience to fulfill her obligations hereunder, shall
do so diligently, professionally and conscientiously and shall comply with the regulations and procedures of foe Company.

 

2.2.   
The execution and delivery of this Agreement and the fulfillment of the terms hereof will constitute the valid, binding
and enforceable obligations of Employee and will not violate, conflict with or constitute a default under or breach of any agreement
and/or undertaking and/or instrument, judgment or order to which the Employee is a party or by which he is bound, or any provision
of law, rule or regulation applicable to Employee, and do not require the consent of any person or entity. In the performance
of Employee's obligations hereunder. Employee will not make use of (i) any confidential or proprietary information belonging to
any third party, or (ii) any information as to which
Employee is restricted
from disclosing or using due to contractual undertakings or by law.

 

1
This version of the Employment Agreement includes revisions made to the agreement pursuant to amendments entered into as of October
1, 2015, July 27, 2016, March 23, 2018 and January 1, 2020.

 

     

     

    

 

2.3.
Employee shall notify the Company immediately and without delay of any matter, which might constitute a conflict of interests with
Employee's position with the Company, the performance of her duties and responsibilities pursuant to this Agreement and/or or with
the best interests of the Company.

 

2.4.;
Employee will not accept, whether during the term of this Agreement or at any time thereafter, directly or indirectly, any payment,
benefit and/or other consideration, from any third party, in connection with or arising from Employee's employment with the Company,
without the Company's prior written authorization.

 

3.        
SALARY AND BENEFITS

 

In
frill consideration for Employee's services hereunder. Employee shall be entitled to the following payments and benefits, effective
as of the Effective Date:

 

3.1.     
Salary

 

3.1.1.
The Company shall pay Employee a monthly gross salary of NIS 52,500 (the
"Salary"). It is hereby clarified that all social benefits should be paid to the Employee by the Company
based on the Salary.

 

3.1.2.
The Salary shall be payable monthly in arrears, in accordance with the Company's usual practice, by the 9th day of the
following calendar month.

 

3.1.3.
It is agreed between the Parties that the position that Employee holds within the Company is a management position, which demands
a special level of loyalty, and accordingly, the Work Hours and Rest Law (1951) shall not apply to Employee's employment by the
Company and this Agreement. Therefore, the Employee shall not be granted any other compensation or payment other than expressly
specified in this Agreement. The Employee undertakes not to claim that the Working Hours and Rest Law applies to Employee’s
employment with the Company. The Employee acknowledges the legitimacy of the Company’s requirement to work “overtime”
or during “weekly rest hours” without being entitled to “overtime compensation” or “weekly rest-hour
compensation” (as those terms are defined in the Working Hours and Rest Law), and the Employee undertakes to reasonably comply
with such requirements of the Company. The Employee acknowledges that the compensation to which the Employee is entitled pursuant
to this Agreement constitutes adequate compensation for the Employee’s work during “overtime” or “weekly
rest-hours”.

 

3.1A.
Annual Bonus

 

The
Company will adopt a personal bonus policy according to which the Employee will be entitled to an annual bonus of up to 3 monthly
salaries, provided that the Employee has successfully fulfilled all of the objectives set forth in such personal bonus policy.
Both the objectives and the degree of compliance with them shall be determined by the Company at its sole discretion and approved
by the Board.

 

3.1B.
Annual Bonus 2018

 

Notwithstanding
the foregoing, the Employee will be entitled to an annual bonus of up to 3 monthly salaries, provided that the Employee has successfully
fulfilled all of the objectives set forth in schedule 3.1B hereto. Both the objectives and the degree of compliance with them shall
be determined by the Company at its sole discretion and approved by the Board.

 

3.2.     
Manager's
Insurance/Pension Fund

 

3.2.1.
The Company shall effect a Manager's Insurance Policy in the name of the Employee (the "Policy"),
and shall pay a sum of up to 15.83% of the Salary towards such Policy, as follows: (i) 8.33./0 will be on account of severance
pay; (ii) 5% on account of Policy payments; (iii) the Company shall deduct 5% from the Salary, to be paid on behalf of the Employee
towards the Policy. In addition, the Company shall pay up to additional 2.5% on account of disability insurance parents.

 

    2

     

    

 

3.2.2.
Alternatively, and at the choice of the Employee, the Company shall effect a Pension Fund in the name of the Employee (the "Fund"),
and shall pay a sum of up to 14.83% of the Salary towards such Fund, as follows: (i) 8.33% will be on account of severance pay;
(ii) 6% on account of pension fund payments; (iii) the Company shall deduct 5.5% from the Salary to be paid on behalf of the Employee
towards such Fund.

 

3.2.3.
In the event that the Employee chooses to combine plans (Manager's Insurance Policy and Pension Fund), the above percentages will
apply to such portion of the Salary that the Employee has allocated towards each such plan.

 

3.2.4.
Employee may extend an existing Policy or Fund and/or incorporate it into the Policy and/or Fund, at Employee's discretion. In
the event that contributions or amounts under this Section 3.2 shall exceed tax exempt amounts pursuant to the Israeli Income Tax
Ordinance and/or the regulations promulgate thereunder, then the Employee shall bear any and all taxes imposed thereupon.

 

3.2.5.
During Employee’s employment period with the Company, the Company shall be the sole owner of the Policy. Other than as set
forth below, in the event of a termination of this Agreement, the Company shall transfer the title in and to the Policy to Employee.

 

3.2.6.
The Company and Employee agree and acknowledge that transfer of ownership of the severance portion of the Policy to the Employee
as set forth in Section 3.2.4 above shall be in
lieu of and not in addition to any entitlement of the Employee under any applicable law or this Agreement to severance
pay, according to the General Approval of the Minister of Labor and Welfare, regarding Employers
 ’ Payments
to Pension Funds and Insurance Policies in Lieu of Severance Pay in Accordance with Section 14 of the Severance Pay Law, 1963,
attached hereto as Exhibit A (the "General
Approval"). Accordingly, the Company hereby waives any rights to said payments made to the Policy, except as set
forth in the General Approval.

 

3.3.    
Annual
Recreation Allowance. Employee shall be entitled to annual recreation allowance (Dmei
Havra'a) in accordance with applicable law.

 

3.4.    
Vacation

 

3.4.1.    
Employee shall be entitled to twenty (20) paid vacation days (business days) for each calendar year of work, on a pro-rata
basis (the "Vacation
Days"). Each leave shall be coordinated with the Board in advance, with adequate regard to the needs of the Company.

 

3.4.2.    
Accumulation and redemption of any unused Vacation Days due to Employee pursuant to the Annual Vacation Law - 1951 (the
"Vacation
Law"), shall be subject to the provisions of the Vacation Law. Vacation Days exceeding such number of Vacation
Days due to Employee pursuant to the Vacation Law from time to time, may be accumulated by Employee from time to time for use during
the next two (2) years.

 

3.4.3.    
Subject to applicable law, any accrued Vacation Days shall not be redeemable by Employee excluding employee resignation
or termination not for cause.

 

3.5.    
Sick Leave

 

Employee
shall be entitled to such number of paid sick leave in accordance with applicable law. Payments by the Company of sick leave days
in connection with disability payments shall be set-off against payments received by Employee pursuant to Section 3.2 above.

 

3.6.    
Expenses

 

The
Company will reimburse Employee, against receipts, for expenses incurred by Employee in the performance of Employee's duties pursuant
to this Agreement, including, without limitation, car and telephone expenses, provided
that prior written approval for such expenses was granted by the Company. Expenses made in accordance with Company
policy shall not require such prior approval.

 

    3

     

    

 

3.7.    
Car.

 

The
Company shall provide the Employee with a car of a monthly cost of NIS 4,150, as shall be approved by the Company's Board of
Directors (the "Car"). The Company shall bear the following costs of the Car: purchase or lease costs,
governmental licenses, insurance, gasoline and repairs. The Company shall not bear any other cost including tickets, fines of
any kind, damages with respect to collisions which are not actually covered by the insurance and toll road fees. For the
avoidance of any doubt, it is agreed that with regard to any tax obligations, the employee shall not be entitled to any
grossing up of the Car benefits.

 

The
Employee shall: (i) take good care of the Car and ensure the provisions and conditions of any insurance policy relating thereto
are observed (including the provisions with respect to the safeguarding of the Car); and (ii) shall use the Car in accordance with
the Company's policy as shall in effect from time to time; and (iii) In the event that the Employee’s employment terminates
for whatever reason, the Employee will forthwith return the Car to the Company with the keys and all licenses and other documentation
relating to the Car. The Employee shall not have any lien with respect to the Car or any document or property relating thereto.
The provision of the Car is in lieu of payment of travel expenses.

 

3.8.    
Cellular
Phone. The Company shall provide to the Employee, at the Company's sole cost and expense a cellular phone, all subject
to tax reductions if required by applicable law.

 

3.9.    
Any and all benefit, right or parent to which Employee is entitled pursuant to this Agreement shall be calculated based
on the Salary only, excluding any additional compensation, parent or reimbursement payable to Employee hereunder.

 

3.10. 
The Salary and all other benefits hereunder shall be payable to Employee also with respect to periods of the Employee's
military reserve duty, if applicable. Employee shall inform the Company of any military reserve duty Employee has been ordered
to perform, promptly after she has been notified of the same. The Company shall be entitled to retain any amounts payable by the
National Insurance Institute or any other agency or entity with respect to such reserve duty period(s).

 

3.11. 
Employee will bear any and all taxes applicable to Employee in connection with amounts paid by Employee and/or the Company
pursuant to this Section 3. The Company shall legally deduct and withhold income tax payments and other obligatory payments, such
as social security and mandatory health insurance, from all of the parents which shall be paid to Employee hereunder and pursuant
to applicable law, including all taxes imposed on any benefits granted to Employee and on any part of the benefits which exceeds
maximum exemption(s) provided by law.

 

3.12. 
Options. Company, in order to give effect to and enforce the above terms and conditions. Any taxes and compulsory
payments in connection with the Options (including with respect to the grant, exercise or sale of the Options or the shares receivable
upon their exercise) shall be borne solely by Employee.

Notwithstanding
the above, the Options shall become full accelerated and exercisable upon the consummation of a Merger/Sole (as defined under the
ESOP).

 

3.13. 
Options 2018. In addition to any options granted in the past, the Employee shall be granted an option to purchase
up to 10,239 Ordinary Shares of the Company (the "Options"),
and subject to any dilution. The Options shall be issued under and be subject to the terms of the Company's 2015 Share Incentive
plan and the Company's form of option agreement (the "ESOP"),
and are conditional upon execution of an option agreement in a form provided by the Company and all other required documents and
agreements required by the Company.
The Options exercise price shall be according to post round valuation report obtained by the Company and the Options shall
vest over a period of four (4) years (25% shall vest 12 months from the date the grant is approved by the Shareholders of the Company
and the remaining quarterly over 3 years of continues employment). Employee undertakes to take all actions and to sign all documents
required, at the discretion of the Company, in order to give effect to and enforce the above terms and conditions. Any taxes and
compulsory payments in connection with the Options (including with respect to the grant, exercise or sale of the Options or the
shares receivable upon their exercise) shall be borne solely by Employee.

 

    4

     

    

 

4.        
CONFIDENTIALITY.
PROPRIETARY RIGHTS AND NON-COMPETITION

 

Upon
execution hereof. Employee shall execute and deliver the Confidentiality, Proprietary Rights and Non-Competition Undertaking
attached hereto as Exhibit
B (the "Undertaking").

 

5.        
TERM AND TERMINATION

 

5.1.     
This Agreement and the employer-employee relationship created hereunder shall enter into effect as of the Effective Date
and shall remain in force and effect unless and until terminated as provided herein.

 

5.2.     
Commencing as of the Effective Date, either Party may terminate this Agreement by providing the other Party with sixty (60)
days’ prior written notice (the "Notice
Period").

 

5.3.     
Notwithstanding anything to the contrary herein, the Company may terminate this Agreement and the employer-employee relationship
hereunder at any time, and without derogating from any other remedy to which the Company may be entitled, for Cause (as hereinafter
defined), by providing Employee written notice thereof In such event, this Agreement and the employer-employee relationship hereunder
shall be deemed effectively terminated as of the date of delivery of such notice, without any notice period or redemption thereof.

 

The
term "Cause"
shall mean: (i) breach of trust by the Employee, misappropriation of the Company's property, engagement in competing activities
or any breach of Employee's undertakings under the Undertaking; or (ii) a material breach by the Employee of this Agreement, provided
however, that the Employee has not cured such breach (if remediable) within 7 days following a notice sent to the Employee by the
Company; or (iii) the Employee's indictment in a criminal offense (other than an offense for which a fine or non-custodial penalty
is imposed) or involvement in sexual harassment of another employee or third party in connection with Employee's employment; or
(iv) the Employee puts herself in a situation of conflict of interests; or (v) any other circumstances under which prior notice
and/or severance payment may be denied from the Employee upon termination of employment under any applicable law and/or under any
judicial decision of a competent tribunal authority.

 

5.4.     
At the option of the Company, during the Notice Period, Employee shall continue to perform her duties as set forth herein
or remain absent from the premises of the Company. In the event that at any time during the Notice Period, the Company wishes to
terminate the employment relationship immediately, the Company shall pay the Employee the Salary due for the remaining period of
the 'Notice Period, and the benefits set forth in Section 3.2 above.

 

5.5.     
Upon the earlier of (a) the date of termination of the Notice Period; or (b) the date of actual termination of employment
for any reason other than for Cause (or in the event of termination for Cause then immediately upon termination of employment).
Employee shall return to the Company, at its principal office, any and all Company equipment, property and documents in Employee's
possession or control.

 

    5

     

    

 

5.6.     
 Any outstanding payment due by Employee to the Company in connection with her employment shall be repaid by Employee by
the earlier of (a) the date of termination of the Notice Period; or (b) the date of actual termination of employment for any reason
other than for cause (or in the event of termination for Cause then immediately upon termination of employment). Notwithstanding,
the Company may set-off any such outstanding amounts due to it against any payment due by the Company to Employee, subject to applicable
law.

 

5.7.     
The provisions of Sections 3.1.3, 3.2.5 and 3.113.9 above. Section 6.5 below and the provisions of the Undertaking, will
remain in full force and effect after termination or expiration of this Agreement.

 

6.        
MISCELLANEOUS

 

6.1.     
Preamble,
Exhibits, Headings, Interpretation. The preamble to this Agreement and the Exhibits attached hereto, constitute an integral
part hereof. Section headings contained herein are for reference and convenience purposes only and shall not in any way be used
for the interpretation of this Agreement.

 

6.2.     
Entire Agreement. The Parties confirm that this is a personal services contract and that foe relationship between them shall
not be subject to any general or special collective employment agreement or any custom or practice of the Company in respect of
any of its other employees or contractors. This Agreement, together with the Exhibits hereto, constitute the entire agreement between
the parties with respect to the subject matters hereof and thereof and supersede all prior agreements, understandings and arrangements,
oral or written, between the parties with respect to the subject matters hereof and thereof.

 

6.3.     
Amendment:
Waiver. Any term of this Agreement may be amended only with the written consent of the Parties. The observance of any
term hereof may be waived (either prospectively or retroactively and either generally or in a particular instance) only with the
written consent of the Party against which such waiver is sought. No waiver by either Party 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 waive of similar or dissimilar provisions or conditions at the same or at any prior or subsequent
time.

 

6.4.     
Successors
and Assigns: Assignment. This Agreement shall be binding upon and shall inure to the benefit of the Company, its successors
and assigns. Neither this Agreement or any of the Employee's rights, privileges, or obligations set forth in, arising under, or
created by this Agreement may be assigned or transferred by Employee without the prior consent in writing of the Company, except
by will or by the laws of descent and distribution. The Company may freely assign and/or transfer this Agreement and any of its
rights, privileges, or obligations hereunder.

 

6.5.     
Governing
Law: Jurisdiction. This Agreement shall be governed by and construed and enforced in accordance with the laws of the
State of Israel, without giving effect to the rules with respect to conflicts-of-law. Any dispute arising out of, or relating to
this Agreement, its interpretation or performance hereunder shall be resolved exclusively by the competent Labor court of the Tel
Aviv-Jaffa district, and each of the parties hereby submits exclusively and irrevocably to the jurisdiction of such court.

 

6.6.      Severability. If
any term or provision of this Agreement shall be declared invalid, illegal or unenforceable, then such term or provision
shall be enforceable to the extent that a court shall deem it reasonable to enforce such term or provision and, if any such
term or provision shall be held by any competent court to be unreasonable to enforce to any extent. such term or provision
shall be severed and all remaining terms and provisions shall be unaffected and shall continue in full force and effect.

 

6.7.     
Notices.
Each notice and/or demand given by a party pursuant to this Agreement shall be in writing and sent by registered mail to the other
party at the address appearing in the caption of this Agreement, and such notice and/or demand shall be deemed given at the expiration
of three (3) days from the date of mailing by registered mail or immediately if delivered by hand. Such address shall be effective
unless notice of a change in address is provided by registered mail to the other party.

 

6.8.     
In the event that a Hebrew version of this Agreement shall be signed, such Hebrew version shall be considered solely a translation
for purposes of convenience only and shall have no binding effect. The English version shall be the only binding version of this
Agreement.

 

[The
remainder of this page was intentionally left blank]

 

    6

     

    

 

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

 

	ChemomAB
    Ltd.	 	 
	 	 	 
	By:	/s/
    Kobi George	 	/s/
    Adi Mor George
	Kobi
    George, Founder	 	Adi
    Mor George

 

[Signature
Page to ChemomAB Ltd. Employment Agreement]

 

     

     

    

 

EXHIBIT
A

 

Employers’
Payments to Pension Funds and Insurance Policies in Lieu of Severance Pay in Accordance with Section 14 of the Severance Pay Law,
1963

 

     

     

    

 

EXHIBIT
B

 

CONFIDENTIALITY.
PROPRIETARY RIGHTS AND NON-COMPETITION UNDERTAKING

 

The
following Undertaking confirms certain terms of my employment with ChemomAB Ltd. (the "Company"), which
is a material part of the consideration for my employment by the Company and the compensation received by me from the Company
from time to time. Capitalize terms not defined herein shall have the meaning ascribed to them in the Employment Agreement to
which this undertaking is attached (the "Employment Agreement").

 

		1.	CONFIDENTIALITY

 

		1.1.	I acknowledge that in the course of my employment with the Company 1 may (or may have) receive(d),
learn(ed), be(en) exposed to, obtain(ed), or have (had) access to non- public information relating to the Company, its business,
operations and activities, including without limitation any commercial, financial, business or technical information, inventions,
developments, processes, specifications, technology, know- how and trade secrets, information regarding marketing, operations,
plans, activities, customers, suppliers, business partners, etc. ("Confidential
Information"). and hereby undertake: (a)
to maintain the Confidential Information in strict confidence at all times and not to communicate, publish, reveal, describe, allow
access to, divulge or otherwise disclose, expose or make available the Confidential Information in whole or in part, to any person
or entity, all whether directly or indirectly, and whether in writing or otherwise; and (b)
not to use the Confidential Information for any purpose other than for the performance of my employment obligations.

 

1
further recognize that the Company may 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. Such information
shall also be deemed "Confidential Information" hereunder, mutatis mutandis.

 

		1.2.	Notwithstanding, Confidential Information shall not include information that: (i) is now or subsequently
becomes generally available in the public domain through no fault or breach on the part of the Employee of any of her obligations
hereunder and/or under the Employment Agreement (it being agreed and understood that Confidential Information shall not be deemed
to be in the public domain merely because any part of the Confidential Information is embodied in general disclosure or because
individual features, components or combinations thereof are now or become known to the public); (ii) was either rightfully obtained
by Employee prior to the date hereof from a third party who has the right to transfer or disclose it, or, as the Employee can demonstrate
in its records, was rightfully in Employee's possession prior to the date hereof, all without duty of nondisclosure or nonuse;
(iii) is approved in writing by the company for release by the Employee; or (iv) is required or compelled by law to be disclosed,
- that the Employee gives reasonable prior written notice to the Company in order to allow it to seek protective or other court
orders. In addition, I represent and warrant that I will keep the terms and conditions of the Employment Agreement and this Undertaking
strictly confidential and will not disclose it to any third person unless and to the extent required by applicable law and subject
to prior written notice to the Company. I nevertheless understand and agree that the Company may disclose the terms and conditions
of the Employment Agreement and this Undertaking if it so deems necessary and if it is particularly required to make certain public
disclosures and publications under applicable laws which may include the terms and conditions of the Employment Agreement and this
Undertaking.

 

		1.3.	Upon the earlier of the Company's request or the termination of my employment, I shall return to
the Company any and all documents and other tangible materials containing Confidential Information, and shall erase or destroy
any computer or data files in my possession containing Confidential Information, such that no copies or samples of Confidential
Information shall remain with me.

 

    9

     

    

 

		1.4.	Without derogating from the above, all Confidential Information made available to, received by,
or generated by me shall remain the property of the Company (or its respective owners), and no license or other right in or to
the Confidential Information is granted hereby. Any and all material (including without limitation, files, records, documents,
design, drawings, specifications, equipment, notebooks, notes, memoranda, diagrams, blueprints, bulletins, formula, reports, analyses,
computer programs, software) and data of any kind relating to Confidential Information and/or Proprietary Rights (as defined below),
whether prepared by the undersigned or otherwise coming or having come into my possession, and whether or not marked or classified
as Confidential Information, shall remain the exclusive property of the Company (or its respective owners).

 

2.        
PROPRIETARY RIGHTS

 

		2.1.	Any and all right, title and interest in and to any and all discoveries, inventions, ideas, developments,
technology, products, improvements, enhancements, derivations, modifications, mask works, trade secrets, concepts, ideas, techniques,
methods and methods of use, delivery and/or diagnostics, processes materials, proceeds, data, compositions of matters, formulations,
know-how, designs and works of authorship, invented, made, developed, discovered, conceived, conducted, designed, reduced to practice,
written, authored, compiled, produced and/or created, in whole or in part, by me (or so caused or enabled), independently or jointly
with others, (i) during my employment with the Company؛ or (ii) will result or arise from or relate to my employment with
the Company, or work performed by or for the Company, or any Confidential Information; or (iii) with the use of any Company equipment,
supplies, facilities, trade secrets or proprietary information of the Company; or (iv) which relate to the Company's business,
technology or research and development (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 associated therewith (collectively and together with the Inventions, the "Proprietary
Rights"), shall be the sole and exclusive property of the Company, its successors and assigns (for the purposes
of this Section 2, collectively, the "Company").
All works authored by me pursuant to the Employment Agreement, including without limitation the Inventions, shall be
deemed "work made for hire".

 

The
Inventions and Proprietary Rights shall not include any intellectual property created by me not related with and/or not within
the field of the Company.

 

		2.2.	I shall have no title, rights, claims or interest whatsoever in or with respect to the Proprietary
Rights. I hereby acknowledge and agree that the salary and other benefits to which I am entitled to receive from the Company by
virtue of my employment with the Company constitute the sole and exclusive consideration to which I am entitled, by virtue of any
contract or law (including, but not limited to, the Israel Patent Law, 5727-1967
(the "Patent
Law"). in respect of any and all Inventions, and I hereby waive all past, present and future demands, contentions,
allegations or other claims, of any kind, in respect thereof, including the right to receive any additional royalties, consideration
or Other payments. Without derogating from the aforesaid, I hereby acknowledge and agree that the level of the compensation and
consideration to which I am entitled has been established based upon the aforementioned waiver of rights to receive any such additional
royalties, consideration or other payment. The foregoing will apply to any "Service Inventions" as defined in the Patent
Law and under no circumstances will I be deemed to have any proprietary right in any such Service Invention, notwithstanding the
provision or non-provision of any notice of an invention and/or company response to any such notice, under Section 132(b) of the
Patent Law. This Undertaking and the Employment Agreement are expressly intended to be an agreement with regard to the terms and
conditions of consideration for Service Inventions in accordance with Section 134 of the Patent Law.

 

    10

     

    

 

		2.3.	I hereby irrevocably and unconditionally transfer and assign to the Company, and if and when not
otherwise assignable herein, agree and undertake to transfer and assign to the Company in the future, any and all of my rights,
title and interest, now and hereafter acquired, in and to the 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.

 

In
the event that pursuant to any applicable law I retain any rights in and to the Proprietary Rights that cannot be assigned to fire
Company, I hereby unconditionally and irrevocably waive any right, claim or demand with respect thereto (including without limitation
for any compensation, royalty or reward, or the enforcement of all such rights), and all claims and causes of action of any kind
with respect to any of the foregoing, and agree, 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.

 

In
the event that I retain any rights in and to Proprietary Rights that cannot be assigned to the Company and cannot be waived, I
hereby grant the Company an irrevocable, 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, I hereby forever waive and agree 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
01־, or other derogatory action in relation to any Invention, and any similar right.

 

		2.4.	I will promptly disclose to the Company fully and in writing all Inventions but will otherwise
keep the Inventions in strict confidence in accordance with the provisions of Section 1 above.

 

		2.5.	I further agree and undertake to take all necessary measures and to fully cooperate with the Company,
during and after the term of my employment, in order to perfect, enforce, and/or defend the Proprietary Rights, and effectuate
the Company's title and interest therein, including without limitation as follows: (i) to keep accurate records relating to the
conception and reduction to practice of all Proprietary Rights, which records shall be the sole and exclusive property of the Company
and shall be surrendered to the possession of the Company, immediately upon their creation; and (ii) to provide the Company with
all information, documentation, and assistance, including the preparation or execution, as applicable, of documents, declarations,
assignments, drawings and other data, all such information, documentation, and assistance to be provided at no additional expense
to the Company, except for out-of-pocket expenses incurred by me at؛ the Company's request or with the Company's prior written
consent. Without derogating from any of my obligations hereunder, I hereby appoint
any officer of the Company as my duly authorized agent to execute, file, prosecute and protect the same before any government agency,
court or authority.

 

    11

     

    

 

3.        
NON-COMPETITION: NON-SOLICITATION

 

		3.1.	Reference is hereby made to that certain Non-Competition Schedule of that certain Share Purchase
Agreement between the Company and the Investors (as further defined therein) dated April 9, 2013. I further declare that, I will
not, directly or indirectly, (i) engage in, participate, assist or become financially interested in, any business venture worldwide
that is engaged in any activity competing with or similar to Company's Business; (ii) employ or otherwise engage, recruit or otherwise
solicit, induce or influence any person to leave the employment or service of the Company; and (iii) solicit or encourage any customer,
supplier or service provider to terminate or modify adversely its business relationship with the Company or otherwise intervene
in any relationship between the Company and any of its employees, contractors, suppliers or consultants.

 

		3.2.	For the purposes of this Section 3, "Company’s
Business” shall mean research, development and commercialization activities relating to the field of business
engaged or planned by the Company during the term of my employment with the Company (including research and development activity).
I expressly acknowledge that the business objectives and targeted operating market of the Company are worldwide, and consequently
the obligations prescribed in this Section 3 shall apply on a worldwide basis.

 

For
the purposes of this Section 3, "directly
or indirectly" includes doing business as an owner, partner, joint venture, an independent contractor, shareholder,
director, officer, manager, broker, agent, employee, service provider or advisor, licensor or in any other capacity whatsoever,
but does not include holding up to 1% of the free market shares of any publicly traded companies.

 

		3.3.	I hereby acknowledge that the provisions of this Section 3 are reasonable to legitimately protect
Confidential Information, Proprietary Rights and Company property (including intellectual property and goodwill) to which I, in
my position in the Company, have been and will continue to be exposed, and that my compensation under the Employment Agreement
incorporates special consideration with respect for these non-competition undertakings.

 

4.        
General

 

		4.1.	The undersized understands and agrees that monetary damages would not constitute a sufficient remedy
for any breach or default of the obligations contained in this Undertaking, and that foe Company shall be entitled, without derogating
from any other remedies, to seek injunctive or other equitable relief to remedy or forestall any such breach or default or threatened
breach.

 

		4.2.	The provisions of the Employment Agreement relating to term and termination and the general provisions
thereof shall apply to this Undertaking, mutatis
mutandis.

 

    12

     

    

 

IN
WITNESS WHEREOF, I hereby affix my name anti signature, on this 25th day of April 2013.

 

	/s/
    Adi Mor George	 
	Name:
    Adi Mor George	 

 

    13

     

    

 

Schedule
3.1B

 

2018 Bonus Milestones

 

    14

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