Document:

Exhibit
10.2 

 

PORCH
GROUP, INC.

2020 STOCK INCENTIVE PLAN

Restricted Stock Unit Award Notice

 

You, the holder named below
(the “Holder”), have been awarded a restricted stock unit (“RSU”) award from Porch Group, Inc.,
a Delaware corporation (the “Company”), pursuant to the terms and conditions of the Porch Group, Inc. 2020 Stock
Incentive Plan (the “Plan”) and the Restricted Stock Unit Award Agreement (the “RSU Agreement”,
and together with this Award Notice, the “Agreement”). Copies of the Plan and the RSU Agreement are attached hereto.
Capitalized terms not defined herein shall have the meanings specified in the Plan or the Agreement.

 

	Name of Holder:	[________]
	 	 
	Grant Date:	[________]
	 	 
	Vesting Commencement Date:	[________]
	 	 
	RSUs Granted:	[____]
    RSUs, subject to adjustment as provided in Section 7.2 of the RSU Agreement.

     

	Vesting Schedule:	Except
    as otherwise provided in the Plan, the Agreement or any Related Agreement, the RSUs shall vest [______] (each such date, a “Vesting
    Date”); provided that Holder is, and has been, continuously (except for any absence for vacation, leave, etc.
    in accordance with the Company’s or its Subsidiaries’ policies): (x) employed by the Company or any of its Subsidiaries;
    (y) serving as a Non-Employee Director; or (z) providing services to the Company or any of its Subsidiaries as an advisor
    or consultant, in each case, from the Grant Date through and including the applicable Vesting Date.

 

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This Award Notice may be executed by facsimile
or electronic means (including, without limitation, PDF or, for Holder, by electronically accepting it on the Company’s third-party
stock plan administrator’s platform) and in one or more counterparts, each of which shall be considered an original instrument,
but all of which together shall constitute one and the same agreement, and shall become binding when one or more counterparts have been
signed by each of the parties hereto and delivered to the other party hereto.

 

	 	PORCH GROUP, INC.

 

	 	By:	 
	 	Name:	 
	 	Title:	 

 

Acknowledgment,
Acceptance and Agreement:

 

By executing below and returning this Award Notice
to Porch Group, Inc. or electronically accepting it on the Company’s third-party stock plan administrator’s platform
(which must be performed within 30 days from the Grant Date for this Agreement to be effective), I hereby acknowledge receipt of
the Agreement and the Plan, accept the RSUs granted to me, agree to be bound by the terms and conditions of the Agreement and the Plan
and acknowledge that my agreement to the covenants set forth in Section 5 and Attachment A of the RSU Agreement is a material
inducement to the Company in granting me the RSUs.

 

	 	HOLDER
	 	 

	 	By:	 
	 	Name:	 
	 	Title:	 

 

[Signature
page to Restricted Stock Unit Award Notice]

 

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PORCH
GROUP, INC.

2020 STOCK INCENTIVE PLAN

Restricted Stock Unit Award Agreement

 

Porch
Group, Inc., a Delaware corporation (the “Company”), hereby grants to the individual (the “Holder”)
named in the award notice attached hereto (the “Award Notice”) as of the grant date set forth in the Award Notice (the
 “Grant Date”), pursuant to the provisions of the Porch Group, Inc. 2020 Stock Incentive Plan (the “Plan”),
a restricted stock unit award (the “Award”) with respect to the number of restricted stock units (“RSUs”)
set forth in the Award Notice, upon and subject to the restrictions, terms and conditions set forth below in this Restricted Stock
Unit Award Agreement (the “RSU Agreement”, and together with this Award Notice, the “Agreement”),
in the Award Notice and in the Plan. Capitalized terms not defined herein shall have the meanings specified in the Plan.

 

1.            Award
Subject to Acceptance of Agreement. The Award shall be null and void unless the Holder accepts this Agreement by executing the Award
Notice in the space provided therefor and returning the Award Notice to the Company or electronically accepting this Agreement on the
Company’s third-party stock plan administrator’s platform (which must be performed within 30 days from the Grant Date for
this Agreement to be effective). The Holder also hereby agrees to abide by all administrative procedures established by the Company or
its stock plan administrator.

 

2.            Rights
as a Stockholder. Except as otherwise provided in this Agreement, until and if shares of Common Stock are issued in settlement of
vested RSUs, the Holder shall not have any rights of a stockholder (including voting and dividend rights) in respect of the Common Stock
underlying the RSUs.

 

3.            Vesting.

 

3.1            Service-Based
Vesting Condition. Except as otherwise provided in any written employment, offer letter, severance, change in control, or similar
agreement between the Company or any of its Subsidiaries and Holder that is effective as of the applicable event (each, a “Related
Agreement”), the Award shall vest in accordance with the Vesting Schedule set forth in the Award Notice.

 

3.2            Termination
of Employment. The vesting of unvested RSUs under this Section 3.2 or Section 3.3(a) hereof is conditioned
upon the Holder signing and delivering to the Company, and there becoming irrevocable, within 60 days after the date of such employment
termination, a general release of claims (in form and substance reasonably acceptable to the Company) by which the Holder releases the
Company, its Subsidiaries and their affiliated entities and individuals from any and all claims, including claims arising from the Holder’s
employment by, and termination of employment with, the Company and/or any of its Subsidiaries, in consideration for the receipt and vesting
of the RSUs. Any RSUs that would have otherwise vested under this Section 3.2 or Section 3.3(a) hereof shall
be forfeited if the general release does not become effective and irrevocable on or before the 60th day following the Holder’s termination
of employment.

 

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(a)            Termination
without Cause or for Good Reason. If the Holder’s employment with the Company or any Subsidiary terminates by reason of the
Company’s termination of the Holder’s employment without Cause or as a result of the Holder’s resignation for Good Reason
prior to the end of the Vesting Schedule, then any unvested RSUs that may vest within [___] months from such termination date shall become
vested as of the 61st day following the Holder’s termination of employment.

 

(1)            “Cause”
shall have the meaning set forth in any Related Agreement or, if no such Related Agreement defines such term, “Cause”
shall mean: (v)  the Holder’s conviction or plea of no contest to a felony; (w) the Holder’s willful malfeasance
or gross misconduct in connection with the Holder’s employment; (x) a substantial, willful and continual refusal by the Holder
to perform the duties, responsibilities or obligations assigned to the Holder by the Company or applicable Subsidiary, following receipt
of written notice of such deficiency from the Company or applicable Subsidiary; (y) the Holder’s material failure to fully
cooperate with a regulatory investigation involving the Company or any of its Subsidiaries or affiliates; or (z) any one or more
acts by the Holder of dishonesty, theft, larceny, embezzlement or fraud from or with respect to the Company or any Subsidiary or affiliate.

 

(2)            “Good
Reason” shall have the meaning set forth in any Related Agreement or, if no such Related Agreement defines such term, “Good
Reason” shall mean the occurrence of any of the following events, without the Holder’s written consent: (i) material
diminution in the Holder’s base salary or annual target incentive opportunity (unless the base salary or annual target incentive
opportunity, as applicable, is similarly reduced for other employees of a similar level of authority or title); (ii) material diminution
in the Holder’s authority or duties; (iii) a requirement by the Company or applicable Subsidiary that the Holder be based more
than 50 miles from the Holder’s office location as of the date of this Agreement (or from such other office to which the Holder
later agrees to move), excluding any new location closer to the Holder’s residence, any temporary assignment, and ordinary business
travel; or (iv) material breach by the Company or applicable Subsidiary of any provision of this Agreement or any Related Agreement
entered into with the Holder. Notwithstanding the foregoing, none of the events described above shall constitute Good Reason unless the
Holder first provides the Company or applicable Subsidiary with written notice of the event within 30 days of the event’s occurrence
and a period of 30 days from such notice to cure such event, and further provided that the Holder must terminate employment within 60
days following the end of the cure period.

 

(b)            Other
Termination. Except as provided in Section 3.2(a) or Section 3.3 hereof, if the Holder’s employment
with the Company or any Subsidiary terminates for any reason, then the portion of the Award that was not vested immediately prior to such
termination of employment shall be immediately forfeited by the Holder and cancelled by the Company.

 

3.3            Change
in Control. Except as otherwise provided in any Related Agreement, in the event of a Change in Control (with definitions of “Cause”
and “Good Reason” to be amended by substituting the Company with the surviving entity or other successor in interest to the
Company) and:

 

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(a)            the
Award is assumed or reasonably substituted on an equitable basis to the Holder by the surviving entity or other successor in interest
to the Company as of the Change in Control on a reasonably equitable basis to the Holder, the Award shall continue as set forth in this
Agreement (and the provisions herein amended by substituting the Company with the surviving entity or other successor in interest to the
Company). In the event the Holder’s employment is terminated without Cause or the Holder resigns the Holder’s employment for
Good Reason on or within 12 months following the consummation of such Change in Control, the Award shall fully vest as of as of the 61st
day following the Holder’s termination of employment. If the Holder’s employment is terminated on or within 12 months following
the consummation of such Change in Control for any reason other than as set forth in the preceding sentence, then the full Award shall
be immediately forfeited by the Holder and cancelled by the surviving entity or other successor in interest to the Company. Following
such 12-month period following the consummation of such Change in Control, Section 3.2 hereof shall apply; or

 

(b)            the
Award is not assumed or reasonably substituted on an equitable basis to the Holder by the surviving entity or other successor in interest
to the Company as of the Change in Control, the Award shall fully vest immediately prior to the consummation of such Change in Control
and the Holder shall receive a cash payment, at closing of the of the Change in Control transaction, for each vested RSU equal to the
acquisition price per share of Common Stock, less any withholding taxes thereon (as described in Section 7.1 hereof).

 

4.            Settlement
of RSUs. Subject to the withholding tax provisions of Section 7.1 hereof, within 45 days after the date upon which an
RSU becomes vested in accordance with the terms of the Agreement, the Company shall issue or transfer to the vested Holder one share of
Common Stock per each vested RSU; provided, however, if RSUs vest in accordance with Section 3.3(a) hereof,
the Company (or a successor thereto) shall issue or transfer to the Holder such shares of Common Stock or common stock of the successor
having approximately equivalent value (and references herein to Common Stock issued on vesting shall include such successor common stock,
if applicable), or the cash equivalent of such shares of Common Stock or common stock if neither security is listed on a U.S. national
securities exchange (including Nasdaq or the New York Stock Exchange).

 

Notwithstanding anything to the contrary herein,
in the event that (i) the Holder is otherwise prohibited from selling Common Stock in the public market (including Nasdaq or other
national securities exchange on which the Common Stock is then listed) when any Common Stock underlying the RSUs are scheduled to be delivered
on a settlement date (the “Original Settlement Date”) due to (w) applicable law (including Section 6.2
hereof), (x) the rules related to a blackout period declared by the Company under an insider trading policy or similar policy,
(y) any agreed to lock-up arrangement, or (z) other similar circumstance and (ii) the Company elects not to satisfy the
Holder’s tax withholding obligations by withholding Common Stock from the Holder’s distribution, then such
Common Stock shall not be delivered on such Original Settlement Date and shall instead be delivered, as applicable, on (x) the first
business day of the next occurring open “window period” applicable to the Holder as determined by the Company, or (y) the
next business day on which the Holder is not otherwise prohibited from selling Common Stock in such public market, but in no event later
than March 15th of year following the year in which the RSUs vest.

 

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5.            Compliance
with Restrictive Covenants and Clawback.

 

5.1            Clawback
of Proceeds. The Holder agrees to the restrictive covenants set forth on Attachment A (the “Restrictive Covenants”).
If the Holder materially breaches or materially violates the Restrictive Covenants or any other agreement between the Holder and the Company
or its Subsidiaries (including any Related Agreement) with respect to non-competition, non-solicitation, non-hire, non-disparagement,
confidentiality, or non-use or non-disclosure of confidential or proprietary information: (i) the Award shall be forfeited and (ii) the
Holder shall immediately remit a cash payment to the Company equal to (x) the Fair Market Value of a share of Common Stock on the
date on which the Company first became aware of such violation or the date of the Holder’s termination of employment, whichever
is greater, multiplied by (y) the number of shares of Common Stock that vested with respect to the Award. The remedy provided by
this Section 5 shall be in addition to and not in lieu of any rights or remedies which the Company or any Subsidiary may have
against the Holder in respect of a breach by the Holder of any duty or obligation to the Company or any Subsidiary. The
Holder’s agreement to the restricted covenants set forth in this Section 5 and in Attachment A was a material
inducement for the Company’s grant of this Award. Notwithstanding the terms of this Section 5.1, if the parties
agree to amend this Section 5.1 in any amendment to this Agreement or in any Related Agreement, such revised terms shall apply
herein on a retroactive basis as of Grant Date.

 

5.2            Right
of Setoff. To the fullest extent permitted by applicable law, the Holder agrees that by accepting the Award Notice the Holder authorizes
the Company, its Subsidiaries and its affiliates to deduct any amount or amounts owed by the Holder pursuant to this Section 5
from any amounts payable by or on behalf of the Company, its Subsidiaries or any affiliate to the Holder, including, without limitation,
any amount payable to the Holder as salary, wages, vacation pay, bonus or the settlement of the Award or any stock-based award. This right
of setoff shall not be an exclusive remedy and the Company’s, its Subsidiaries’ or an affiliate’s election not to exercise
this right of setoff with respect to any amount payable to the Holder shall not constitute a waiver of this right of setoff with respect
to any other amount payable to the Holder or any other remedy.

 

6.            Transfer
Restrictions and Securities Laws Representation.

 

6.1            Nontransferability
of Award. Prior to vesting, this Award and the underlying RSUs may not be offered, sold, transferred, assigned, pledged, hypothecated,
encumbered or otherwise disposed of (whether by operation of law or otherwise) or be subject to execution, attachment or similar process,
other than by will, the laws of descent and distribution or pursuant to beneficiary designation procedures approved by the Company; provided, however,
that any transferred Award or underlying RSUs so permitted will be subject to all of the same terms and conditions as provided in the
Plan and this Agreement and the Holder’s estate or beneficiary appointed shall remain liable for any withholding tax that may be
imposed by any federal, state or local tax authority. Upon any attempt to so offer, sell, transfer, assign, pledge, hypothecate, encumber
or otherwise dispose of the RSUs, the Award and underlying RSUs and all rights hereunder shall immediately become null and void.

 

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6.2            Investment
Representation. The Holder hereby represents and covenants that: (a) any shares of Common Stock acquired upon the vesting of
the Award will be acquired for investment and not with a view to the distribution thereof within the meaning of the Securities Act of
1933, as amended (the “Securities Act”), unless such acquisition has been registered under the Securities Act and any
applicable state securities laws; (b) any subsequent sale of any such shares shall be made either pursuant to an effective registration
statement under the Securities Act and any applicable state securities laws, or pursuant to an exemption from registration under the Securities
Act and such state securities laws; and (c) if requested by the Company, the Holder shall submit a written statement, in form satisfactory
to the Company, to the effect that such representations (x) are true and correct as of the date of vesting of any shares of Common
Stock hereunder or (y) are true and correct as of the date of any sale of any such shares, as applicable. As a further condition
precedent to the delivery to the Holder of any shares of Common Stock subject to the Award, the Holder shall comply with all regulations
and requirements of any regulatory authority having control of or supervision over the issuance or delivery of the shares and, in connection
therewith, shall execute any documents which the Board or the Committee shall in its sole discretion deem necessary or advisable.

 

7.            Additional
Terms and Conditions of Award.

 

7.1            Withholding
Taxes. As a condition precedent to the delivery of the Common Stock, the Holder shall, upon request by the Company, pay to the Company
such amount as the Company may be required, under all applicable federal, state, local or other laws or regulations, to withhold and pay
over as income or other withholding taxes (the “Required Tax Payments”) with respect to the Award. If the Holder shall
fail to advance the Required Tax Payments after request by the Company, the Company may, in its discretion, deduct any Required Tax Payments
from any amount then or thereafter payable by the Company to the Holder. The Holder may elect to satisfy his or her obligation to advance
the Required Tax Payments by any of the following means: (i) a cash payment to the Company; (ii) if permitted by the Company,
delivery to the Company (either actual delivery or by attestation procedures established by the Company) of previously owned whole shares
of Common Stock having an aggregate Fair Market Value, determined as of the date on which such withholding obligation arises (the “Tax
Date”), equal to the Required Tax Payments; (iii) if permitted by the Company, authorizing the Company to withhold whole
shares of Common Stock which would otherwise be delivered to the Holder having an aggregate Fair Market Value, determined as of the Tax
Date, equal to the Required Tax Payments; (iv) to the extent permitted by applicable law, a cash payment by a broker-dealer acceptable
to the Company to whom the Holder has submitted an irrevocable notice of same-day sale; or (v) any combination of (i), (ii) or
(iii). Shares of Common Stock to be delivered or withheld may not have a Fair Market Value in excess of the minimum amount of the Required
Tax Payments (or such higher withholding amount permitted by the Committee and which does not result in adverse accounting consequences
to the Company). Any fraction of a share of Common Stock which would be required to satisfy any such obligation shall be disregarded and
the remaining amount due shall be paid in cash by the Holder. No share of Common Stock or certificate representing a share of Common Stock
shall be delivered until the Required Tax Payments have been satisfied in full. Any determination by the Company with respect to the tendering
or withholding of shares of Common Stock to satisfy the Required Tax Payments shall be made by the Committee if the Holder is subject
to Section 16 of the Exchange Act.

 

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7.2            Adjustment.
In the event of any equity restructuring (within the meaning of Financial Accounting Standards Board Accounting Standards Codification
Topic 718, Compensation—Stock Compensation, or the equivalent standard) that causes the per share value of shares of Common Stock
to change, such as a stock dividend, stock split, spinoff, rights offering or recapitalization through an extraordinary dividend, the
terms of this Award, including the number and class of securities subject hereto, shall be appropriately adjusted by the Committee, and
such adjustment shall be made in accordance with Section 409A of the Code. In the event of any other change in corporate capitalization,
including a merger, consolidation, reorganization, or partial or complete liquidation of the Company, such equitable adjustments described
in the foregoing sentence may be made as determined to be appropriate and equitable by the Committee (or, if the Company is not the surviving
corporation in any such transaction, the board of directors of the surviving corporation) to prevent dilution or enlargement of rights
of the Holder. The decision of the Committee regarding any such adjustment shall be final, binding and conclusive.

 

7.3            Compliance
with Applicable Law. The Award is subject to the condition that if the listing, registration or qualification of the shares of Common
Stock subject to the Award upon any securities exchange or under any law, or the consent or approval of any governmental body, or the
taking of any other action is necessary or desirable as a condition of, or in connection with, the vesting or delivery of shares hereunder,
the shares of Common Stock subject to the Award shall not vest or be delivered, in whole or in part, unless such listing, registration,
qualification, consent, approval or other action shall have been effected or obtained, free of any conditions not acceptable to the Company.
The Company agrees to use reasonable efforts to effect or obtain any such listing, registration, qualification, consent, approval or other
action.

 

7.4            Award
Confers No Rights to Continued Employment or Service. In no event shall the granting of the Award or its acceptance by the Holder,
or any provision of the Agreement or the Plan, give or be deemed to give the Holder any right to continued employment, or in the case
of a consultant or director, any right to continued service by the Company, any Subsidiary or any affiliate of the Company or affect in
any manner the right of the Company, any Subsidiary or any affiliate of the Company to terminate the employment or service, respectively,
of any person at any time.

 

7.5            Decisions
of Board or Committee. The Board or the Committee shall have the right to resolve all questions which may arise in connection with
the Award. Any interpretation, determination or other action made or taken by the Board or the Committee regarding the Plan or this Agreement
shall be final, binding and conclusive.

 

7.6            Successors.
This Agreement shall be binding upon and inure to the benefit of any successor or successors of the Company and any person or persons
who shall, upon the death of the Holder, acquire any rights hereunder in accordance with this Agreement or the Plan.

 

7.7            Notices.
All notices, requests or other communications provided for in this Agreement shall be made, if to the Company, to Porch Group, Inc.,
Attn: Stock Plan Administrator, 2200 1st Avenue South, Suite 300, Seattle, Washington 98134; stock@porch.com, and if to the Holder,
to the last known mailing address of the Holder contained in the records of the Company. All notices, requests or other communications
provided for in this Agreement shall be made in writing either (a) by personal delivery, (b) by facsimile or electronic mail
with confirmation of receipt, (c) by mailing in the United States mails or (d) by express courier service. The notice, request
or other communication shall be deemed to be received upon personal delivery, upon confirmation of receipt of facsimile or electronic
mail transmission or upon receipt by the party entitled thereto if by United States mail or express courier service; provided,
however, that if a notice, request or other communication sent to the Company is not received during regular business hours, it
shall be deemed to be received on the next succeeding business day of the Company.

 

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7.8            Governing
Law; Personal Jurisdiction. This Agreement, the Award and all determinations made and actions taken pursuant hereto and thereto, to
the extent not governed by the laws of the United States, shall be governed by the laws of the State of Delaware and construed in accordance
therewith without giving effect to principles of conflicts of laws. The Holder hereby consents to personal jurisdiction in any action
brought in any court, federal or state, within the State of Delaware having subject matter jurisdiction in the matter.

 

7.9            Agreement
Subject to the Plan. This Agreement is subject to the provisions of the Plan and shall be interpreted in accordance therewith. In
the event that the provisions of this Agreement and the Plan conflict, the Plan shall control. The Holder hereby acknowledges receipt
of a copy of the Plan.

 

7.10            Entire
Agreement. This Agreement and the Plan constitute the entire agreement of the parties with respect to the subject matter hereof and
supersede in their entirety all prior undertakings and agreements of the Company and the Holder with respect to the subject matter hereof.

 

7.11            Partial
Invalidity; Headings. The invalidity or unenforceability of any particular provision of this Agreement by a court of law of competent
jurisdiction shall not affect the other provisions hereof and, to the fullest extent permitted by applicable law, this Agreement
shall be construed in all respects as if such invalid or unenforceable provisions had never been contained herein, and such provision
or part thereof shall be reformed or construed so that it would be enforceable to the maximum extent legally possible. Headings are for
convenience only and are not deemed to be part of this Agreement.

 

7.12            Amendment
and Waiver. The Company may amend the provisions of this Agreement at any time; provided that an amendment that would materially
impair the Holder’s rights under this Agreement shall be subject to the written consent of the Holder. No course of conduct or failure
or delay in enforcing the provisions of this Agreement shall affect the validity, binding effect or enforceability of this Agreement.
Waiver by any party of any breach of this Agreement or failure to exercise any right hereunder shall not be deemed to be a waiver of any
other breach or right whether or not of the same or a similar nature.

 

7.13            Code
Section 409A.  It is intended that this Award be exempt from or comply with Section 409A of the Code and
this Agreement shall be interpreted and administered in a manner which effectuates such intent; provided, however,
that in no event shall the Company or any Subsidiary be liable for any additional tax, interest or penalty imposed upon or other damage
suffered by the Holder on account of this Award being subject to but not in compliance with Section 409A of the Code.

 

7.14            Section 280G
of the Code.

 

(a)            To
the extent that the Holder would otherwise be eligible to receive a payment or benefit pursuant to the terms of this Agreement, any Related
Agreement or otherwise in connection with, or arising out of, the Holder’s employment with the Company or any Subsidiary or a change
in ownership or effective control of the Company or of a substantial portion of its assets (any such payment or benefit, a “Parachute
Payment”), that a nationally recognized United States public accounting firm selected by the Company (the “Accountants”)
determines, but for this sentence would be subject to excise tax imposed by Section 4999 of the Code (the “Excise Tax”),
subject to clause (c) below, then the Company shall pay to the Holder whichever of the following two alternative forms of payment
would result in the Holder’s receipt, on an after-tax basis, of the greater amount of the Parachute Payment notwithstanding that
all or some portion of the Parachute Payment may be subject to the Excise Tax: (1) payment in full of the entire amount of the Parachute
Payment (a “Full Payment”), or (2) payment of only a part of the Parachute Payment so that the Holder receives
the largest payment possible without the imposition of the Excise Tax (a “Reduced Payment”).

 

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(b)            If
a Reduced Payment is necessary pursuant to clause (a), then the reduction shall occur in the following order: (1) cancellation
of acceleration of vesting on any equity awards for which the exercise price exceeds the then fair market value of the underlying equity;
(2) reduction of cash payments (with such reduction being applied to the payments in the reverse order in which they would otherwise
be made, that is, later payments shall be reduced before earlier payments); and (3) cancellation of acceleration of vesting of equity
awards not covered under (1) above; provided, however, that in the event that acceleration of vesting of equity
awards is to be cancelled, acceleration of vesting of full value awards shall be cancelled before acceleration of options and stock appreciation
rights and within each class such acceleration of vesting shall be cancelled in the reverse order of the grant date of such equity awards,
that is, later equity awards shall be canceled before earlier equity awards; and provided,  further, that to the
extent permitted by Section 409A of the Code and Sections 280G and 4999 of the Code, if a different reduction procedure would be
permitted without violating Section 409A of the Code or losing the benefit of the reduction under Sections 280G and 4999 of the Code,
the Holder may designate a different order of reduction.

 

(c)            For
purposes of determining whether any of the Parachute Payments (collectively the “Total Payments”) will be subject to
the Excise Tax and the amount of such Excise Tax, (i) the Total Payments shall be treated as “parachute payments” within
the meaning of Section 280G(b)(2) of the Code, and all “parachute payments” in excess of the “base amount”
(as defined under Section 280G(b)(3) of the Code) shall be treated as subject to the Excise Tax, unless and except to the extent
that, in the opinion of the Accountants, such Total Payments (in whole or in part):  (1) do not constitute “parachute
payments,” including giving effect to the recalculation of stock options in accordance with Treasury Regulation Section 1.280G-1,
Q&A 33; (2) represent reasonable compensation for services actually rendered within the meaning of Section 280G(b)(4) of
the Code in excess of the “base amount”; or (3) are otherwise not subject to the Excise Tax, and (ii) the value
of any non-cash benefits or any deferred payment or benefit shall be determined by the Accountants in accordance with the principles of
Section 280G of the Code.

 

(d)            All
determinations hereunder shall be made by the Accountants, which determinations shall be final and binding upon the Company and the Holder.

 

(e)            The
federal tax returns filed by the Holder (and any filing made by a consolidated tax group which includes the Company) shall be prepared
and filed on a basis consistent with the determination of the Accountants with respect to the Excise Tax payable by the Holder. The
Holder shall make proper payment of the amount of any Excise Tax, and at the request of the Company, provide to the Company true and correct
copies (with any amendments) of his or her federal income tax return as filed with the Internal Revenue Service, and such other documents
reasonably requested by the Company, evidencing such payment (provided that the Holder may delete information unrelated to
the Parachute Payment or Excise Tax and provided,  further that the Company at all times shall treat such
returns as confidential and use such return only for purpose contemplated by this paragraph).

 

(f)            In
the event of any controversy with the Internal Revenue Service (or other taxing authority) with regard to the Excise Tax, the Holder shall
permit the Company to control issues related to the Excise Tax (at its expense), provided that such issues do not potentially materially
adversely affect the Holder, and the Holder shall control any other issues. In the event that the issues are interrelated, the Holder
and the Company shall in good faith cooperate so as not to jeopardize resolution of either issue. In the event of any conference
with any taxing authority as to the Excise Tax or associated income taxes, the Holder shall permit the representative of the Company to
accompany the Holder, and the Holder and his representative shall cooperate with the Company and its representative.

 

(g)            The
Company shall be responsible for all charges of the Accountants.

 

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(h)            The
Company and the Holder shall promptly deliver to each other copies of any written communications, and summaries of any verbal communications,
with any taxing authority regarding the Excise Tax covered by this Section 7.14.

 

(i)            Nothing
in this Section 7.14 is intended to violate the Sarbanes-Oxley Act of 2002 and to the extent that any advance or repayment
obligation hereunder would do so, such obligation shall be modified so as to make the advance a nonrefundable payment to the Holder and
the repayment obligation null and void.

 

(j)            Notwithstanding
the foregoing, any payment or reimbursement made pursuant to this Section 7.14 shall be paid to the Holder promptly and
in no event later than the end of the calendar year next following the calendar year in which the related tax is paid by the Holder or
where no taxes are required to be remitted, the end of the Holder’s calendar year following the Holder’s calendar year in
which the audit is completed or there is a final and nonappealable settlement or other resolution of the litigation.

 

(k)            The
provisions of this Section 7.14 shall survive the termination of the Holder’s employment or service with the
Company or any Subsidiary for any reason and the termination of the Agreement.

 

7.15          Data
Privacy Notice.

 

(a)            Holder
hereby acknowledges that the collection, use and transfer, in electronic or other form, of Holder’s personal data as described in
this Agreement and any other RSU grant materials by the Company and its Subsidiaries is necessary for the purpose of implementing, administering
and managing Holder’s participation in the Plan. The Holder authorizes, agrees and unambiguously consents to the transmission by
the Company and its Subsidiaries of any personal data information related to this Award for legitimate business purposes (including, without
limitation, the administration of the Plan). This authorization and consent is freely given by the Holder.

 

(b)            Holder
understands that the Company and its Subsidiaries may hold certain personal information about Holder, including, but not limited to, Holder’s
name, home address and telephone number, email address, date of birth, social security, insurance, passport or other identification number
(e.g., resident registration number), salary, nationality, job title, details of all RSUs or any other entitlement to shares of Common
Stock awarded, canceled, exercised, vested, unvested or outstanding in Holder’s favor (“Data”), for the purpose
of implementing, administering and managing the Plan.

 

(c)            Holder
understands that Data will be transferred to eShares, Inc. DBA Carta, Inc. and its related companies (“Carta”)
or any stock plan service provider as may be selected by the Company in the future, which is assisting the Company with the implementation,
administration and management of the Plan. Holder understands that the recipients of the Data may be located in the United States or elsewhere,
and that the recipients’ country of operation (e.g., the United States) may have different data privacy laws and protections than
Holder’s country. Holder understands that if he or she resides outside the United States, he or she may request a list with the
names and addresses of any potential recipients of the Data by contacting his or her local human resources representative. The Company,
Carta, any stock plan service provider selected by the Company in the future and any other possible recipients which may assist the Company
(presently or in the future) with implementing, administering and managing the Plan may receive, possess, use, retain and transfer the
Data, in electronic or other form, for the sole purpose of implementing, administering and managing his or her participation in the Plan.
Holder understands that Data will be held only as long as is necessary to implement, administer and manage Holder’s participation
in the Plan plus any required period thereafter for purposes of complying with data retention policies and procedures. Holder understands
that based on where s/he resides, s/he may have additional rights with respect to personal data collected, used or transferred in connection
with this Agreement or any other RSU grant materials by the Company and its Subsidiaries, and Holder may contact in writing his or her
local human resources representative.

 

    9

     

    

 

Attachment A – Restrictive Covenants

 

For purposes of this Attachment
A, references to “Company” shall include the Company and/or any of its Subsidiaries, as applicable.

 

1.            Confidentiality.
Holder acknowledges that, during Holder’s employment with the Company, Holder will be exposed to confidential and/or proprietary
information, know-how and trade secrets of the Company and its clients, service providers and other business partners (collectively, “Confidential
Information”), which are essential to the Company’s business and the continued confidentiality of which is critical to
the Company’s economic well-being. Confidential Information includes, but is not limited to, financial information (including but
not limited to earnings, revenue and other financial performance information, forecasts and budgets), business plans, product development
information, strategies, prospects, existing and potential products, technical information and know-how, data, inventions (whether or
not patentable), developments, intellectual property (including but not limited to undisclosed patents, patent applications and unpublished
works) techniques, processes, algorithms, software, designs, engineering, research, client lists, personnel information (including, without
limitation, skills and compensation), and information regarding possible acquisitions or sales of businesses or facilities. Confidential
Information also includes the details behind the founding of the Company (date, people involved, discussions leading to the creation of
the Company, etc.). Confidential Information does not include any information that has become publicly known and made generally available
through no wrongful act of Holder or of others who were under confidentiality obligations as to the item involved. Holder agrees that,
during Holder’s employment or at any time thereafter, Holder will not disclose Confidential Information to any third party for any
reason, except as authorized by the Company and necessary in the good faith performance of Holder’s job (and, in the case of Confidential
Information of a Company client or business partner, consistent with the Company's agreement with such client or business partner).

 

2.            Non-Disparagement.
Holder agrees that, during Holder’s employment or at any time thereafter, Holder will not make any statements with regard to the
Company or any of its officers, directors, employees, consultants, stockholders or agents that are false, misleading or disparaging or
otherwise likely to be harmful to them or their business, business reputation or personal reputation; provided, however, that Holder may
respond accurately and fully to any question, inquiry or request for information in the course of a government investigation or when required
by legal process (including in response to a subpoena).

 

3.            Return
of Company Property. Holder agrees that, upon the termination of Holder’s employment
for any reason or at any time upon the Company’s request, Holder will immediately return to the Company (and will not keep in Holder’s
possession, recreate or deliver to anyone else) all Company property in Holder’s possession, custody, or control, including, but
not limited to Confidential Information and Inventions (defined below) in any medium, marketing and sales literature, and other documents
and data developed by or on behalf of the Company.

 

    10

     

    

 

4.            Non-Solicitation;
Non-Competition. Holder agrees that, during Holder’s employment and for a period of
12 months following termination of Holder’s employment with the Company for any reason, Holder will not, directly or indirectly:
(a) solicit the employment of, recruit, hire or otherwise seek to hire any person who is then employed by the Company or who was
employed by the Company during the last 12 months of Holder’s employment with the Company, or encourage any employee of the Company
to terminate his/her employment with Company for any reason; (b) solicit business on behalf of a competitor from any customer or
prospect that (i) was serviced by the Company during the last 12 months of Holder’s employment with the Company, and (ii) with
whom Holder had business-related contact in the last 12 months of Holder’s employment with the Company; (c) solicit or attempt
to induce any customer, service provider, supplier or other person or entity with whom the Company has, or is attempting to establish,
a commercial relationship to cease or refrain from doing business with the Company or to alter its relationship with the Company in any
way adverse to the Company; and/or (d) seek or accept employment from or engagement as a consultant by any competitor of the Company,
or engage in, own, work on, supervise, manage or contribute Holder’s knowledge to any work that involves a product or service that
is competitive with a product or service offered or being developed or pursued by the Company. For the purposes of this Agreement, competitors
and competing products and services of the Company include, without limitation, the sale of home owner insurance, development of software
and/or other tools geared towards aggregating home, home project, and local home improvement/repair/maintenance service professional data,
scoring, ranking, and pricing algorithms related to home improvement/repair/maintenance, classified listings related to home improvement/repair/maintenance,
sharing and inspiration for home improvement/repair/maintenance, yield management, revenue generation and marketing for the home improvement/repair/maintenance
professional service and contractor industries, and consumer rating and referral services for the home improvement/repair/maintenance
professional service and contractor industries, in each case within the United States. Notwithstanding the foregoing, the restrictions
set forth in subsections (b) and (d) above shall only apply upon, and as a condition of, Holder’s receipt of at least
one share of Common Stock in accordance with Section 4 of the Agreement. Holder agrees that should a court exercising jurisdiction
with respect to this Agreement find any such restriction invalid or unenforceable due to unreasonableness, either in period of time, geographical
area, or otherwise, then in that event, such restriction will be interpreted and enforced to the maximum extent that such court deems
reasonable. If the Company, in its sole discretion, decides to waive a provision of this Section, no such waiver will constitute a waiver
of any other provision in this Agreement or any other agreement between Holder and the Company.

 

5.            Assignment
of Inventions.

 

(a)            The
Company shall be the sole and exclusive owner of, and shall own all right, title and interest (including patent rights, copyrights, trade
secret rights, mask work rights, moral rights, sui generis database rights and all other intellectual and industrial property rights
of any sort throughout the world) relating to, any and all inventions, works of authorship, domain names, mask works, designs, know-how,
ideas, improvements, processes, methods, trade secrets and other information, whether or not patentable or registrable under copyright
or similar laws, that Holder solely or jointly makes, conceives, develops or reduces to practice (or cause to be made, conceived, developed
or reduced to practice) during the term of Holder’s employment with Company (including any of the foregoing that pre-date Holder’s
execution of this Agreement) that (i) relate to the business of the Company, (ii) relate to the Company’s actual or demonstrably
anticipated research or development, (iii) result from any work performed by Holder for the Company, or (iv) are developed using
the time, equipment, supplies, facilities or Confidential Information of the Company (collectively “Inventions”). Holder
will promptly disclose all Inventions to the Company. To the extent that ownership of the Inventions is not deemed to have vested automatically
in the Company under applicable law, Holder hereby assigns and shall assign all of Holder’s right, title and interest in such Inventions
to the Company, except as provided in the following notice.

 

    11

     

    

 

Notice: Notwithstanding any provision
of this Agreement to the contrary, this Agreement does not obligate Holder to assign any of Holder's rights in an invention for which
no equipment, supplies, facilities or trade secret information of the Company was used and which was developed entirely on Holder’s
own time, unless (a) the invention relates (i) directly to the business of the Company or (ii) to the Company’s actual
or demonstrably anticipated research or development, or (b) the invention results from any work performed by Holder for the Company.
This provision constitutes the written notice and other requirements of Section 49.44.140 of the Revised Code of Washington.

 

(b)            Holder
agrees to assist the Company in all proper respects (including, but not limited to, the execution of such instruments or documents as
the Company may request), at the Company’s expense, to further secure the Company’s rights in, and to evidence, record and
perfect the ownership or assignment of, the Inventions and any intellectual property rights therein and thereto, and to maintain, enforce,
and defend any rights specified to be so owned or assigned. Holder further agrees that Holder’s obligation to provide such assistance
shall continue after the termination of this Agreement. Holder hereby irrevocably designates and appoints the Company as Holder’s
agent and attorney-in-fact to act for and on Holder’s behalf to execute and file any document and to do all other lawfully permitted
acts to further the purposes of the foregoing with the same legal force and effect as if executed by Holder. The designation and appointment
of the Company and its duly authorized officers and agents as Holder’s agent and attorney in fact shall be deemed to be coupled
with an interest and therefore irrevocable.

 

(c)            If
Holder uses or discloses any all original works of authorship, inventions, developments, improvements, trademarks, designs, domain names,
processes, methods, trade secrets or other intellectual property that were made by Holder (solely or jointly) prior to Holder’s
employment with the Company, that are owned by Holder or in which Holder has an interest, that relate to the Company’s actual or
proposed business and that are not assigned by Holder to the Company under this Agreement (“Prior Inventions”) in the
course of Holder’s employment or otherwise on behalf of the Company or incorporate any Prior Inventions into any Company property,
the Company will have and Holder hereby grants the Company a perpetual, irrevocable, worldwide, royalty-free, non-exclusive, sublicensable
right and license to make, have made, modify, use, sell and otherwise exploit such Prior Inventions.

 

6.            Remedies.
Holder agrees that Holder’s violation of this Attachment A would cause the Company irreparable harm which would not be adequately
compensated by monetary damages and that injunctive relief, specific performance and other equitable relief may be granted by any court
or courts having jurisdiction, restraining Holder from violation of the terms of this Attachment A, upon Holder’s breach
or threatened breach of any obligations set forth in this Attachment A. Holder further agrees that no bond or other security shall
be required in obtaining such equitable relief and Holder hereby consents to the issuance of such injunction and to the ordering of specific
performance. This Section 6 shall not be construed to limit the Company from any other relief or damages to which it may be
entitled as a result of Holder’s breach of any provision of this Attachment A. If Holder breaches his or her obligations
under Section 4 of this Attachment A, then the applicable restricted period shall be extended to account for the period
during which Holder was in breach, and Holder shall be required to reimburse the Company for its costs and fees, including reasonable
attorneys’ fees, incurred in connection with any enforcement effort.

 

    12Exhibit 4.5

 

UNDERWRITER’S PURCHASE WARRANT

 

NEUROSENSE
THERAPEUTICS LTD.

 

	Warrant Shares: _________1	 	Initial Exercise Date: _____,
  20222

 

This
UNDERWRITER’S PURCHASE WARRANT (the “Warrant”) certifies that, for value received, ___________________
or its assigns (the “Holder”) is entitled, upon the terms and subject to the limitations on exercise and the conditions
hereinafter set forth, at any time on or after the date referred to above as the Initial Exercise Date (the “Initial Exercise
Date”) and on or prior to 5:00 p.m. (New York City time) on ____, 20263
(the “Termination Date”) but not thereafter, to subscribe for and purchase from NeuroSense Therapeutics
Ltd., a company incorporated under the laws of Israel (the “Company”), up to _______ shares (as subject to adjustment
hereunder, the “Warrant Shares”) of Ordinary Shares. The purchase price of one Ordinary Share under this Warrant shall
be equal to the Exercise Price, as defined in Section 2(b).

 

Section 1. Definitions.
Capitalized terms used and not otherwise defined herein shall have the meanings set forth in that certain Underwriting Agreement (the
“Underwriting Agreement”), dated _____, 2021, between the Company and Maxim Group LLC, as representative of the several
Underwriters named in Schedule A thereto.

 

Section 2. Exercise.

 

a) Exercise
of Warrant. Exercise of the purchase rights represented by this Warrant may be made, in whole or in part, at any time or times on
or after the Initial Exercise Date and on or before the Termination Date by delivery to the Company of a duly executed facsimile copy
or PDF copy submitted by e-mail (or e-mail attachment) of the Notice of Exercise in the form annexed hereto (the “Notice of Exercise”).
Within the earlier of (i) two (2) Trading Days and (ii) the number of Trading Days comprising the Standard Settlement Period (as defined
in Section 2(d)(i) herein) following the date of exercise as aforesaid, the Holder shall deliver the aggregate Exercise Price for the
shares specified in the applicable Notice of Exercise by wire transfer or cashier’s check drawn on a United States bank unless the
cashless exercise procedure specified in Section 2(c) below is specified in the applicable Notice of Exercise. No ink-original Notice
of Exercise shall be required, nor shall any medallion guarantee (or other type of guarantee or notarization) of any Notice of Exercise
be required. Notwithstanding anything herein to the contrary, the Holder shall not be required to physically surrender this Warrant to
the Company until the Holder has purchased all of the Warrant Shares available hereunder and the Warrant has been exercised in full, in
which case, the Holder shall surrender this Warrant to the Company for cancellation within three (3) Trading Days of the date on which
the final Notice of Exercise is delivered to the Company. Partial exercises of this Warrant resulting in purchases of a portion of the
total number of Warrant Shares available hereunder shall have the effect of lowering the outstanding number of Warrant Shares purchasable
hereunder in an amount equal to the applicable number of Warrant Shares purchased. The Holder and the Company shall maintain written records
showing the number of Warrant Shares purchased and the date of such purchases. The Company shall deliver any objection to any Notice of
Exercise within one (1) Business Day of receipt of such notice. The Holder and any assignee, by acceptance of this Warrant, acknowledge
and agree that, by reason of the provisions of this paragraph, following the purchase of a portion of the Warrant Shares hereunder, the
number of Warrant Shares available for purchase hereunder at any given time may be less than the amount stated on the face hereof.

 

b) Exercise
Price. The exercise price per Ordinary Share under this Warrant shall be $____4,
subject to adjustment hereunder (the “Exercise Price”).

 

 

		1	Insert 5% of the total shares sold in the Offering.

		2	Insert the six month anniversary of the effective date of the
registration statement.

		3	Insert the five year anniversary of the effective date of the
registration statement.

		4	Insert 125% of the public offering price of the shares.

 

     

     

    

 

c) Cashless
Exercise. In lieu of exercising this Warrant by delivering the aggregate Exercise Price by wire transfer or cashier’s check,
at the election of Holder this Warrant may also be exercised, in whole or in part, at such time by means of a “cashless exercise”
in which the Holder shall be entitled to receive a number of Warrant Shares equal to the quotient obtained by dividing [(A-B) (X)] by
(A), where:

 

(A) = as applicable:
(i) the VWAP on the Trading Day immediately preceding the date of the applicable Notice of Exercise if such Notice of Exercise is (1)
both executed and delivered pursuant to Section 2(a) hereof on a day that is not a Trading Day or (2) both executed and delivered pursuant
to Section 2(a) hereof on a Trading Day prior to the opening of “regular trading hours” (as defined in Rule 600(b)(68) of
Regulation NMS promulgated under the federal securities laws) on such Trading Day, (ii) at the option of the Holder, either (y) the VWAP
on the Trading Day immediately preceding the date of the applicable Notice of Exercise or (z) the Bid Price of the Ordinary Shares on
the principal Trading Market as reported by Bloomberg L.P. as of the time of the Holder’s execution of the applicable Notice of
Exercise if such Notice of Exercise is executed during “regular trading hours” on a Trading Day and is delivered within two
(2) hours thereafter (including until two (2) hours after the close of “regular trading hours” on a Trading Day) pursuant
to Section 2(a) hereof or (iii) the VWAP on the date of the applicable Notice of Exercise if the date of such Notice of Exercise is a
Trading Day and such Notice of Exercise is both executed and delivered pursuant to Section 2(a) hereof after the close of “regular
trading hours” on such Trading Day;

 

(B) = the Exercise
Price of this Warrant, as adjusted hereunder; and

 

(X) = the number
of Warrant Shares that would be issuable upon exercise of this Warrant in accordance with the terms of this Warrant if such exercise were
by means of a cash exercise rather than a cashless exercise.

 

“VWAP” means, for
any date, the price determined by the first of the following clauses that applies: (a) if the Ordinary Shares are then listed or quoted
on The New York Stock Exchange, the NYSE American or any tier of The Nasdaq Stock Market (each, a “Trading Market”),
the daily volume weighted average price of the Ordinary Shares for such date (or the nearest preceding date) on the Trading Market on
which the Ordinary Shares are then listed or quoted as reported by Bloomberg L.P. (“Bloomberg”) (based on a trading
day from 9:30 a.m. (New York City time) to 4:02 p.m. (New York City time)), (b) if the Ordinary Shares are listed or quoted on the OTCQB
or OTCQX (each as operated by OTC Markets Group, Inc., or any successor market), the volume weighted average price of the Ordinary Shares
for such date (or the nearest preceding date) on OTCQB or OTCQX as applicable, (c) if the Ordinary Shares are not then listed or quoted
for trading on the OTCQB or OTCQX Markets and if prices for the Ordinary Shares are then reported in the OTC Pink Market published by
OTC Markets Group Inc. (or a similar organization or agency succeeding to its functions of reporting prices), the most recent bid price
per share of the Ordinary Shares so reported, or (d) in all other cases, the fair market value of a Ordinary Shares as determined by an
independent appraiser selected in good faith by the Board of Directors of the Company and reasonably acceptable to the Holder, the fees
and expenses of which shall be paid by the Company.

 

If Warrant Shares
are issued in such a cashless exercise, the parties acknowledge and agree that in accordance with Section 3(a)(9) of the Securities Act,
the Warrant Shares shall take on the registered characteristics of the Warrants being exercised. The Company agrees not to take any position
contrary to this Section 2(c).

 

    2

     

    

 

d) Mechanics
of Exercise.

 

		i.	Delivery of Warrant Shares Upon Exercise. The Company shall cause the Warrant Shares purchased
hereunder to be transmitted by the Transfer Agent to the Holder by crediting the account of the Holder’s or its designee’s
balance account with The Depository Trust Company through its Deposit or Withdrawal at Custodian system (“DWAC”) if
the Company is then a participant in such system and either (A) there is an effective registration statement permitting the issuance of
the Warrant Shares to or resale of the Warrant Shares by Holder or (B) this Warrant is being exercised via cashless exercise, and otherwise
by physical delivery of a certificate, registered in the Company’s share register in the name of the Holder or its designee, for
the number of Warrant Shares to which the Holder is entitled pursuant to such exercise to the address specified by the Holder in the Notice
of Exercise by the date that is the earliest of (i) two (2) Trading Days after the delivery to the Company by the Holder of the Notice
of Exercise, (ii) one (1) Trading Day after delivery of the aggregate Exercise Price to the Company and (iii) the number of Trading Days
comprising the Standard Settlement Period after the delivery to the Company of the Notice of Exercise (such date, the “Warrant
Share Delivery Date”). Upon delivery of the Notice of Exercise, the Holder shall be deemed for all corporate purposes to have
become the holder of record of the Warrant Shares with respect to which this Warrant has been exercised, irrespective of the date of delivery
of the Warrant Shares, provided that payment of the aggregate Exercise Price (other than in the case of a cashless exercise) is received
within the earlier of (i) two (2) Trading Days and (ii) the number of Trading Days comprising the Standard Settlement Period following
delivery of the Notice of Exercise. If the Company fails for any reason to deliver to the Holder the Warrant Shares subject to a Notice
of Exercise by the Warrant Share Delivery Date, the Company shall pay to the Holder, in cash, as liquidated damages and not as a penalty,
for each $1,000 of Warrant Shares subject to such exercise (based on the VWAP of the Ordinary Shares on the date of the applicable Notice
of Exercise), $10 per Trading Day (increasing to $20 per Trading Day on the fifth Trading Day after such liquidated damages begin to accrue)
for each Trading Day after such Warrant Share Delivery Date until such Warrant Shares are delivered or Holder rescinds such exercise.
The Company agrees to maintain a transfer agent that is a participant in the FAST program so long as this Warrant remains outstanding
and exercisable. As used herein, “Standard Settlement Period” means the standard settlement period, expressed in a
number of Trading Days, on the Company’s primary Trading Market with respect to the Ordinary Shares as in effect on the date of
delivery of the Notice of Exercise.

 

ii. Delivery
of New Warrants Upon Exercise. If this Warrant shall have been exercised in part, the Company shall, at the request of a Holder and
upon surrender of this Warrant certificate, at the time of delivery of the Warrant Shares, deliver to the Holder a new Warrant evidencing
the rights of the Holder to purchase the unpurchased Warrant Shares called for by this Warrant, which new Warrant shall in all other respects
be identical with this Warrant.

 

iii. Rescission
Rights. If the Company fails to cause the Transfer Agent to transmit to the Holder the Warrant Shares pursuant to Section 2(d)(i)
by the Warrant Share Delivery Date, then the Holder will have the right to rescind such exercise; provided, however, that the Holder shall
be required to return any Warrant Shares or Ordinary Shares subject to any such rescinded exercise notice concurrently with the return
to the Holder of the aggregate Exercise Price paid to the Company for such Warrant Shares and the restoration of the Holder’s right
to acquire such Warrant Shares pursuant to this Warrant (including, issuance of a replacement Warrant certificate evidencing such restored
rights).

 

    3

     

    

 

iv. Compensation
for Buy-In on Failure to Timely Deliver Warrant Shares Upon Exercise. In addition to any other rights available to the Holder, if
the Company fails to cause the Transfer Agent to transmit to the Holder the Warrant Shares in accordance with the provisions of Section
2(d)(i) above pursuant to an exercise on or before the Warrant Share Delivery Date, and if after such date the Holder is required by its
broker to purchase (in an open market transaction or otherwise) or the Holder’s brokerage firm otherwise purchases, Ordinary Shares
to deliver in satisfaction of a sale by the Holder of the Warrant Shares which the Holder anticipated receiving upon such exercise (a
“Buy-In”), then the Company shall (A) pay in cash to the Holder the amount, if any, by which (x) the Holder’s
total purchase price (including brokerage commissions, if any) for the Ordinary Shares so purchased exceeds (y) the amount obtained by
multiplying (1) the number of Warrant Shares that the Company was required to deliver to the Holder in connection with the exercise at
issue times (2) the price at which the sell order giving rise to such purchase obligation was executed, and (B) at the option of the Holder,
either reinstate the portion of the Warrant and equivalent number of Warrant Shares for which such exercise was not honored (in which
case such exercise shall be deemed rescinded) or deliver to the Holder the number of Ordinary Shares that would have been issued had the
Company timely complied with its exercise and delivery obligations hereunder. For example, if the Holder purchases Ordinary Shares having
a total purchase price of $11,000 to cover a Buy-In with respect to an attempted exercise of Ordinary Shares with an aggregate sale price
giving rise to such purchase obligation of $10,000, under clause (A) of the immediately preceding sentence the Company shall be required
to pay the Holder $1,000. The Holder shall provide the Company written notice indicating the amounts payable to the Holder in respect
of the Buy-In and, upon request of the Company, evidence of the amount of such loss. Nothing herein shall limit a Holder’s right
to pursue any other remedies available to it hereunder, at law or in equity including, without limitation, a decree of specific performance
and/or injunctive relief with respect to the Company’s failure to timely deliver Ordinary Shares upon exercise of the Warrant as
required pursuant to the terms hereof.

 

v. No
Fractional Shares or Scrip. No fractional shares or scrip representing fractional shares shall be issued upon the exercise of this
Warrant. As to any fraction of a share which the Holder would otherwise be entitled to purchase upon such exercise, the Company shall,
at its election, either pay a cash adjustment in respect of such final fraction in an amount equal to such fraction multiplied by the
Exercise Price or round up to the next whole share.

 

vi. Charges,
Taxes and Expenses. Issuance of Warrant Shares shall be made without charge to the Holder for any issue or transfer tax or other incidental
expense in respect of the issuance of such Warrant Shares, all of which taxes and expenses shall be paid by the Company, and such Warrant
Shares shall be issued in the name of the Holder or in such name or names as may be directed by the Holder; provided, however,
that in the event that Warrant Shares are to be issued in a name other than the name of the Holder, this Warrant when surrendered for
exercise shall be accompanied by the Assignment Form attached hereto duly executed by the Holder and the Company may require, as a condition
thereto, the payment of a sum sufficient to reimburse it for any transfer tax incidental thereto. The Company shall pay all Transfer Agent
fees required for same-day processing of any Notice of Exercise and all fees to the Depository Trust Company (or another established clearing
corporation performing similar functions) required for same-day electronic delivery of the Warrant Shares.

 

    4

     

    

 

vii. Closing
of Books. The Company will not close its shareholder books or records in any manner which prevents the timely exercise of this Warrant,
pursuant to the terms hereof.

 

e) Holder’s
Exercise Limitations. The Company shall not effect any exercise of this Warrant, and a Holder shall not have the right to exercise
any portion of this Warrant, pursuant to Section 2 or otherwise, to the extent that after giving effect to such issuance after exercise
as set forth on the applicable Notice of Exercise, the Holder (together with the Holder’s Affiliates, and any other Persons acting
as a group together with the Holder or any of the Holder’s Affiliates (such Persons, “Attribution Parties”)),
would beneficially own in excess of the Beneficial Ownership Limitation (as defined below).  For purposes of the foregoing sentence,
the number of Ordinary Shares beneficially owned by the Holder and its Affiliates and Attribution Parties shall include the number of
Ordinary Shares issuable upon exercise of this Warrant with respect to which such determination is being made, but shall exclude the number
of Ordinary Shares which would be issuable upon (i) exercise of the remaining, nonexercised portion of this Warrant beneficially owned
by the Holder or any of its Affiliates or Attribution Parties and (ii) exercise or conversion of the unexercised or nonconverted portion
of any other securities of the Company (including, without limitation, any other Ordinary Share Equivalents) subject to a limitation on
conversion or exercise analogous to the limitation contained herein beneficially owned by the Holder or any of its Affiliates or Attribution
Parties.  Except as set forth in the preceding sentence, for purposes of this Section 2(e), beneficial ownership shall be calculated
in accordance with Section 13(d) of the Exchange Act and the rules and regulations promulgated thereunder, it being acknowledged by the
Holder that the Company is not representing to the Holder that such calculation is in compliance with Section 13(d) of the Exchange Act
and the Holder is solely responsible for any schedules required to be filed in accordance therewith. To the extent that the limitation
contained in this Section 2(e) applies, the determination of whether this Warrant is exercisable (in relation to other securities owned
by the Holder together with any Affiliates and Attribution Parties) and of which portion of this Warrant is exercisable shall be in the
sole discretion of the Holder, and the submission of a Notice of Exercise shall be deemed to be the Holder’s determination of whether
this Warrant is exercisable (in relation to other securities owned by the Holder together with any Affiliates and Attribution Parties)
and of which portion of this Warrant is exercisable, in each case subject to the Beneficial Ownership Limitation, and the Company shall
have no obligation to verify or confirm the accuracy of such determination. In addition, a determination as to any group status as contemplated
above shall be determined in accordance with Section 13(d) of the Exchange Act and the rules and regulations promulgated thereunder. For
purposes of this Section 2(e), in determining the number of outstanding Ordinary Shares, a Holder may rely on the number of outstanding
Ordinary Shares as reflected in (A) the Company’s most recent periodic or annual report filed with the Commission, as the case may
be, (B) a more recent public announcement by the Company or (C) a more recent written notice by the Company or the Transfer Agent setting
forth the number of Ordinary Shares outstanding.  Upon the written or oral request of a Holder, the Company shall within one Trading
Day confirm orally and in writing to the Holder the number of Ordinary Shares then outstanding.  In any case, the number of outstanding
Ordinary Shares shall be determined after giving effect to the conversion or exercise of securities of the Company, including this Warrant,
by the Holder or its Affiliates or Attribution Parties since the date as of which such number of outstanding Ordinary Shares was reported.
The “Beneficial Ownership Limitation” shall be 4.99% (or, upon election by a Holder prior to the issuance of any Warrants,
9.99%) of the number of Ordinary Shares outstanding immediately after giving effect to the issuance of Ordinary Shares issuable upon exercise
of this Warrant. The Holder, upon notice to the Company, may increase or decrease the Beneficial Ownership Limitation provisions of this
Section 2(e), provided that the Beneficial Ownership Limitation in no event exceeds 9.99% of the number of Ordinary Shares outstanding
immediately after giving effect to the issuance of Ordinary Shares upon exercise of this Warrant held by the Holder and the provisions
of this Section 2(e) shall continue to apply. Any increase in the Beneficial Ownership Limitation will not be effective until the 61st
day after such notice is delivered to the Company. The provisions of this paragraph shall be construed and implemented in a manner otherwise
than in strict conformity with the terms of this Section 2(e) to correct this paragraph (or any portion hereof) which may be defective
or inconsistent with the intended Beneficial Ownership Limitation herein contained or to make changes or supplements necessary or desirable
to properly give effect to such limitation. The limitations contained in this paragraph shall apply to a successor holder of this Warrant.

 

    5

     

    

 

Section 3. Certain
Adjustments.

 

a) Share
Dividends and Splits. If the Company, at any time while this Warrant is outstanding: (i) pays a share dividend or otherwise makes
a distribution or distributions on Ordinary Shares or any other equity or equity equivalent securities payable in Ordinary Shares (which,
for avoidance of doubt, shall not include any Ordinary Shares issued by the Company upon exercise of this Warrant), (ii) subdivides outstanding
Ordinary Shares into a larger number of shares, (iii) combines (including by way of reverse share split) outstanding Ordinary Shares into
a smaller number of shares, or (iv) issues by reclassification of Ordinary Shares any capital stock of the Company, then in each case
the Exercise Price shall be multiplied by a fraction of which the numerator shall be the number of Ordinary Shares (excluding treasury
shares, if any) outstanding immediately before such event and of which the denominator shall be the number of Ordinary Shares outstanding
immediately after such event, and the number of shares issuable upon exercise of this Warrant shall be proportionately adjusted such that
the aggregate Exercise Price of this Warrant shall remain unchanged. Any adjustment made pursuant to this Section 3(a) shall become effective
immediately after the record date for the determination of shareholders entitled to receive such dividend or distribution and shall become
effective immediately after the effective date in the case of a subdivision, combination or re-classification. For the purposes of clarification,
the Exercise Price of this Warrant will not be adjusted in the event that the Company or any subsidiary thereof, as applicable, sells
or grants any option to purchase, or sell or grant any right to reprice, or otherwise dispose of or issue (or announce any offer, sale,
grant or any option to purchase or other disposition) any Ordinary Shares or Ordinary Share Equivalents at an effective price per share
less than the Exercise Price then in effect.

 

b) Subsequent
Rights Offerings. In addition to any adjustments pursuant to Section 3(a) above, if at any time the Company grants, issues or sells
any Ordinary Share Equivalents or rights to purchase shares, warrants, securities or other property pro rata to the record holders of
any class of Ordinary Shares (the “Purchase Rights”), then the Holder will be entitled to acquire, upon the terms applicable
to such Purchase Rights, the aggregate Purchase Rights which the Holder could have acquired if the Holder had held the number of Ordinary
Shares acquirable upon complete exercise of this Warrant (without regard to any limitations on exercise hereof, including without limitation,
the Beneficial Ownership Limitation) immediately before the date on which a record is taken for the grant, issuance or sale of such Purchase
Rights, or, if no such record is taken, the date as of which the record holders of Ordinary Shares are to be determined for the grant,
issue or sale of such Purchase Rights (provided, however, to the extent that the Holder’s right to participate in any such Purchase
Right would result in the Holder exceeding the Beneficial Ownership Limitation, then the Holder shall not be entitled to participate in
such Purchase Right to such extent (or beneficial ownership of such Ordinary Shares as a result of such Purchase Right to such extent)
and such Purchase Right to such extent shall be held in abeyance for the Holder until such time, if ever, as its right thereto would not
result in the Holder exceeding the Beneficial Ownership Limitation).

 

c) Pro
Rata Distributions. During such time as this Warrant is outstanding, if the Company shall declare or make any dividend or other distribution
of its assets (or rights to acquire its assets) to holders of Ordinary Shares, by way of return of capital or otherwise (including, without
limitation, any distribution (other than cash) of stock or other securities, property or options by way of a dividend, spin off, reclassification,
corporate rearrangement, scheme of arrangement or other similar transaction) (a “Distribution”), at any time after
the issuance of this Warrant, then, in each such case, the Holder shall be entitled to participate in such Distribution to the same extent
that the Holder would have participated therein if the Holder had held the number of Ordinary Shares acquirable upon complete exercise
of this Warrant (without regard to any limitations on exercise hereof, including without limitation, the Beneficial Ownership Limitation)
immediately before the date of which a record is taken for such Distribution, or, if no such record is taken, the date as of which the
record holders of Ordinary Shares are to be determined for the participation in such Distribution (provided, however, that,
to the extent that the Holder’s right to participate in any such Distribution would result in the Holder exceeding the Beneficial Ownership
Limitation, then the Holder shall not be entitled to participate in such Distribution to such extent (or in the beneficial ownership of
any Ordinary Shares as a result of such Distribution to such extent) and the portion of such Distribution shall be held in abeyance for
the benefit of the Holder until such time, if ever, as its right thereto would not result in the Holder exceeding the Beneficial Ownership
Limitation).

 

    6

     

    

 

d) Fundamental
Transaction. If, at any time while this Warrant is outstanding, (i) the Company, directly or indirectly, in one or more related transactions
effects any merger or consolidation of the Company with or into another Person, (ii) the Company (and all of its Subsidiaries, taken as
a whole), directly or indirectly, effects any sale, lease, license, assignment, transfer, conveyance or other disposition of all or substantially
all of its assets in one or a series of related transactions, (iii) any, direct or indirect, purchase offer, tender offer or exchange
offer (whether by the Company or another Person) is completed pursuant to which holders of Ordinary Shares are permitted to sell, tender
or exchange their shares for other securities, cash or property and has been accepted by the holders of 50% or more of the outstanding
Ordinary Shares, (iv) the Company, directly or indirectly, in one or more related transactions effects any reclassification, reorganization
or recapitalization of the Ordinary Shares or any compulsory share exchange pursuant to which the Ordinary Shares are effectively converted
into or exchanged for other securities, cash or property, or (v) the Company, directly or indirectly, in one or more related transactions
consummates a stock or share purchase agreement or other business combination (including, without limitation, a reorganization, recapitalization,
spin-off, merger or scheme of arrangement) with another Person or group of Persons whereby such other Person or group acquires more than
50% of the outstanding Ordinary Shares (not including any Ordinary Shares held by the other Person or other Persons making or party to,
or associated or affiliated with the other Persons making or party to, such stock or share purchase agreement or other business combination)
(each a “Fundamental Transaction”), then, upon any subsequent exercise of this Warrant, the Holder shall have the right
to receive, for each Warrant Share that would have been issuable upon such exercise immediately prior to the occurrence of such Fundamental
Transaction, at the option of the Holder (without regard to any limitation in Section 2(e) on the exercise of this Warrant), the number
of Ordinary Shares of the successor or acquiring corporation or of the Company, if it is the surviving corporation, and any additional
consideration (the “Alternate Consideration”) receivable as a result of such Fundamental Transaction by a holder of
the number of Ordinary Shares for which this Warrant is exercisable immediately prior to such Fundamental Transaction (without regard
to any limitation in Section 2(e) on the exercise of this Warrant).  For purposes of any such exercise, the determination of the
Exercise Price shall be appropriately adjusted to apply to such Alternate Consideration based on the amount of Alternate Consideration
issuable in respect of one Ordinary Share in such Fundamental Transaction, and the Company shall apportion the Exercise Price among the
Alternate Consideration in a reasonable manner reflecting the relative value of any different components of the Alternate Consideration. 
If holders of Ordinary Shares are given any choice as to the securities, cash or property to be received in a Fundamental Transaction,
then the Holder shall be given the same choice as to the Alternate Consideration it receives upon any exercise of this Warrant following
such Fundamental Transaction. The Company shall cause any successor entity in a Fundamental Transaction in which the Company is not
the survivor (the “Successor Entity”) to assume in writing all of the obligations of the Company under this Warrant
in accordance with the provisions of this Section 3(e) pursuant to written agreements in form and substance reasonably satisfactory to
the Holder and approved by the Holder (without unreasonable delay) prior to such Fundamental Transaction and shall, at the option of the
Holder, deliver to the Holder in exchange for this Warrant a security of the Successor Entity evidenced by a written instrument substantially
similar in form and substance to this Warrant which is exercisable for a corresponding number of shares of capital stock of such Successor
Entity (or its parent entity) equivalent to the Ordinary Shares acquirable and receivable upon exercise of this Warrant (without regard
to any limitations on the exercise of this Warrant) prior to such Fundamental Transaction, and with an exercise price which applies the
exercise price hereunder to such shares of capital stock (but taking into account the relative value of the Ordinary Shares pursuant to
such Fundamental Transaction and the value of such shares of capital stock, such number of shares of capital stock and such exercise price
being for the purpose of protecting the economic value of this Warrant immediately prior to the consummation of such Fundamental Transaction),
and which is reasonably satisfactory in form and substance to the Holder. Upon the occurrence of any such Fundamental Transaction, the
Successor Entity shall succeed to, and be substituted for (so that from and after the date of such Fundamental Transaction, the provisions
of this Warrant referring to the “Company” shall refer instead to the Successor Entity), and may exercise every right and
power of the Company and shall assume all of the obligations of the Company under this Warrant with the same effect as if such Successor
Entity had been named as the Company herein.

 

e) Calculations.
All calculations under this Section 3 shall be made to the nearest cent or the nearest 1/100th of a share, as the case may be. For purposes
of this Section 3, the number of Ordinary Shares deemed to be issued and outstanding as of a given date shall be the sum of the number
of Ordinary Shares (excluding treasury shares, if any) issued and outstanding.

 

    7

     

    

 

f) Notice
to Holder.

 

i. Adjustment
to Exercise Price. Whenever the Exercise Price is adjusted pursuant to any provision of this Section 3, the Company shall promptly
deliver to the Holder by facsimile or email a notice setting forth the Exercise Price after such adjustment and any resulting adjustment
to the number of Warrant Shares and setting forth a brief statement of the facts requiring such adjustment.

 

ii. Notice
to Allow Exercise by Holder. If (A) the Company shall declare a dividend (or any other distribution in whatever form) on the Ordinary
Shares, (B) the Company shall declare a special nonrecurring cash dividend on or a redemption of the Ordinary Shares, (C) the Company
shall authorize the granting to all holders of the Ordinary Shares rights or warrants to subscribe for or purchase any shares of capital
stock of any class or of any rights, (D) the approval of any shareholders of the Company shall be required in connection with any reclassification
of the Ordinary Shares, any consolidation or merger to which the Company (and all of its Subsidiaries, taken as a whole) is a party, any
sale or transfer of all or substantially all of the assets of the Company, or any compulsory share exchange whereby the Ordinary Shares
are converted into other securities, cash or property, or (E) the Company shall authorize the voluntary or involuntary dissolution, liquidation
or winding up of the affairs of the Company, then, in each case, the Company shall cause to be delivered by facsimile or email to the
Holder at its last facsimile number or email address as it shall appear upon the Warrant Register of the Company, at least 20 calendar
days prior to the applicable record or effective date hereinafter specified, a notice stating (x) the date on which a record is to be
taken for the purpose of such dividend, distribution, redemption, rights or warrants, or if a record is not to be taken, the date as of
which the holders of the Ordinary Shares of record to be entitled to such dividend, distributions, redemption, rights or warrants are
to be determined or (y) the date on which such reclassification, consolidation, merger, sale, transfer or share exchange is expected to
become effective or close, and the date as of which it is expected that holders of the Ordinary Shares of record shall be entitled to
exchange their shares of the Ordinary Shares for securities, cash or other property deliverable upon such reclassification, consolidation,
merger, sale, transfer or share exchange; provided that the failure to deliver such notice or any defect therein or in the delivery thereof
shall not affect the validity of the corporate action required to be specified in such notice. To the extent that any notice provided
in this Warrant constitutes, or contains, material, non-public information regarding the Company or any of the Subsidiaries, the Company
shall simultaneously file such notice with the Commission pursuant to a report on Form 6-K. The Holder shall remain entitled to exercise
this Warrant during the period commencing on the date of such notice to the effective date of the event triggering such notice except
as may otherwise be expressly set forth herein.

 

Section 4. Transfer
of Warrant.

 

a) Transferability.
Pursuant to FINRA Rule 5110(e)(1), neither this Warrant nor any Warrant Shares issued upon exercise of this Warrant shall be sold, transferred,
assigned, pledged or hypothecated, or be the subject of any hedging, short sale, derivative, put or call transaction that would result
in the effective economic disposition of the securities by any person for a period of 180 days immediately following the commencement
of sales of the offering pursuant to which this Warrant is being issued, except as permitted under FINRA Rule 5110(e)(2). Subject to the
foregoing restriction, this Warrant and all rights hereunder are transferable, in whole or in part, upon surrender of this Warrant at
the principal office of the Company or its designated agent, together with a written assignment of this Warrant substantially in the form
attached hereto duly executed by the Holder or its agent or attorney and funds sufficient to pay any transfer taxes payable upon the making
of such transfer. Upon such surrender and, if required, such payment, the Company shall execute and deliver a new Warrant or Warrants
in the name of the assignee or assignees, as applicable, and in the denomination or denominations specified in such instrument of assignment,
and shall issue to the assignor a new Warrant evidencing the portion of this Warrant not so assigned, and this Warrant shall promptly
be cancelled. Notwithstanding anything herein to the contrary, the Holder shall not be required to physically surrender this Warrant to
the Company unless the Holder has assigned this Warrant in full, in which case, the Holder shall surrender this Warrant to the Company
within three (3) Trading Days of the date on which the Holder delivers an assignment form to the Company assigning this Warrant in full.
This Warrant, if properly assigned in accordance herewith, may be exercised by a new holder for the purchase of Warrant Shares without
having a new Warrant issued.

 

    8

     

    

 

b) New
Warrants. If this Warrant is not held in global form through DTC (or any successor depositary), this Warrant may be divided or combined
with other Warrants upon presentation hereof at the aforesaid office of the Company, together with a written notice specifying the names
and denominations in which new Warrants are to be issued, signed by the Holder or its agent or attorney. Subject to compliance with Section
4(a), as to any transfer which may be involved in such division or combination, the Company shall execute and deliver a new Warrant or
Warrants in exchange for the Warrant or Warrants to be divided or combined in accordance with such notice. All Warrants issued on transfers
or exchanges shall be dated the initial issuance date of this Warrant and shall be identical with this Warrant except as to the number
of Warrant Shares issuable pursuant thereto. 

 

b) Warrant
Register. The Company shall register this Warrant, upon records to be maintained by or on behalf of the Company for that purpose (the
“Warrant Register”), in the name of the record Holder hereof from time to time. The Company may deem and treat the
registered Holder of this Warrant as the absolute owner hereof for the purpose of any exercise hereof or any distribution to the Holder,
and for all other purposes, absent actual notice to the contrary.

 

c) Representation
by Holder. The Holder, by the acceptance hereof, represents and warrants that it is acquiring this Warrant and, upon any exercise
hereof, will acquire the Warrant Shares issuable upon such exercise, for its own account and not with a view to or for distributing or
reselling such Warrant Shares or any part thereof in violation of the Securities Act or any applicable state securities law, except pursuant
to sales registered or exempted under the Securities Act.

 

Section 5. Registration
Rights.

 

a) To
the extent the Company does not maintain an effective registration statement for the Warrant Shares and in the further event that the
Company files a registration statement with the Securities and Exchange Commission covering the sale of its shares of Ordinary Shares
(other than a registration statement on Form F-4 or S-8, or on another form, or in another context, in which such “piggyback”
registration would be inappropriate), then, for a period of five (5) years from the commencement of sales of the Offering, the Company
shall give written notice of such proposed filing to the Holder as soon as practicable but in no event less than ten (10) days before
the anticipated filing date, which notice shall describe the amount and type of securities to be included in such offering, the intended
method(s) of distribution, and the name of the proposed managing underwriter or underwriters, if any, of the offering, and offer to the
Holder in such notice the opportunity to register the sale of such number of shares of Warrant Shares as such Holder may request in writing
within five (5) days following receipt of such notice (a “Piggyback Registration”). The Company shall cause such Warrant
Shares to be included in such registration and shall use its commercially reasonable efforts to cause the managing underwriter or underwriters
of a proposed underwritten offering to permit the Warrant Shares requested to be included in a Piggyback Registration on the same terms
and conditions as any similar securities of the Company and to permit the sale or other disposition of such Warrant Shares in accordance
with the intended method(s) of distribution thereof. All Holders proposing to distribute their securities through a Piggyback Registration
that involves an underwriter or underwriters shall enter into an underwriting agreement in customary form with the underwriter or underwriters
selected for such Piggyback Registration. Furthermore, each Holder must provide such information as reasonably requested by the Company
(which information shall be limited to that which is required for disclosure under the Securities Act and the forms, rules and regulations
promulgated thereunder) to be included in the registration statement timely or the Company may elect to exclude such Holder from the registration
statement.

 

b) In
addition, to the extent the Company does not maintain an effective registration statement for the Warrant Shares, for a period of five
(5) years from the commencement of sales of the Offering, the Holder shall be entitled to one (1) demand right for the registration of
the Warrant Shares at the Company’s expense (other than any underwriting discounts, selling commissions, share transfer taxes applicable
to the sale of the Warrant Shares, and fees and disbursements of counsel for the Holder) (the “Demand Registration”).
In the event of a Demand Registration, the Company shall use its commercially reasonable efforts to register the applicable Warrant Shares.
All Holders of Warrant Shares proposing to distribute their securities through a Demand Registration that involves an underwriter or underwriters
shall enter into an underwriting agreement in customary form with the underwriter or underwriters selected for such Demand Registration.
Furthermore, each Holder must provide such information as reasonably requested by the Company (which information shall be limited to that
which is required for disclosure under the Securities Act and the forms, rules and regulations promulgated thereunder) to be included
in the registration statement timely or the Company may elect to exclude such Holder from the registration statement.

 

    9

     

    

 

c) Notwithstanding
the foregoing, the registration rights described in this Section 5 shall be subject to limitations imposed by the Commission’s rules
or comments of the Commission staff in connection with its review of the registration statement for any such resale registration. Moreover,
notwithstanding the foregoing registration obligations of the Company, if the Company furnishes to the Holders requesting a Demand Registration
a certificate signed by the Company’s chief executive officer stating that in the good faith judgment of the Company’s Board
of Directors it would be materially detrimental to the Company and its stockholders for a registration statement to either become effective
or remain effective for as long as such registration statement otherwise would be required to remain effective, because such action would
(i) materially interfere with a significant acquisition, corporate reorganization, or other similar transaction involving the Company;
(ii) require premature disclosure of material information that the Company has a bona fide business purpose for preserving as confidential;
or (iii) render the Company unable to comply with requirements under the Securities Act or Exchange Act, then the Company shall have the
right to defer taking action with respect to such Demand Registration or withdraw a related registration statement for a period of not
more than forty-five (45) calendar days; provided, however, that the Company may not invoke this right more than twice in any twelve (12)
month period or during the twelve (12) month period prior to the Termination Date.

 

Section 6. Miscellaneous.

 

a) No Rights
as Shareholder Until Exercise; No Settlement in Cash. This Warrant does not entitle the Holder to any voting rights, dividends
or other rights as a shareholder of the Company prior to the exercise hereof as set forth in Section 2(d)(i), except as expressly
set forth in Section 3. Without limiting any rights of a Holder to receive Warrant Shares on a “cashless exercise”
pursuant to Section 2(c) or to receive cash payments pursuant to Section 2(d)(i) and Section 2(d)(iv) herein, in no event shall the
Company be required to net cash settle an exercise of this Warrant.

 

b) Loss,
Theft, Destruction or Mutilation of Warrant. The Company covenants that upon receipt by the Company of evidence reasonably
satisfactory to it of the loss, theft, destruction or mutilation of this Warrant or any share certificate relating to the Warrant
Shares, and in case of loss, theft or destruction, of indemnity or security reasonably satisfactory to it (which, in the case of the
Warrant, shall not include the posting of any bond), and upon surrender and cancellation of such Warrant or share certificate, if
mutilated, the Company will make and deliver a new Warrant or share certificate of like tenor and dated as of such cancellation, in
lieu of such Warrant or share certificate.

 

c) Saturdays,
Sundays, Holidays, etc. If the last or appointed day for the taking of any action or the expiration of any right required or
granted herein shall not be a Business Day, then, such action may be taken or such right may be exercised on the next succeeding
Business Day.

 

d) Authorized
Shares.

 

i. The Company
covenants that, during the period the Warrant is outstanding, it will reserve from its authorized and unissued Ordinary Shares a
sufficient number of shares to provide for the issuance of the Warrant Shares upon the exercise of any purchase rights under this
Warrant. The Company further covenants that its issuance of this Warrant shall constitute full authority to its officers who are
charged with the duty of issuing the necessary Warrant Shares upon the exercise of the purchase rights under this Warrant. The
Company will take all such reasonable action as may be necessary to assure that such Warrant Shares may be issued as provided herein
without violation of any applicable law or regulation, or of any requirements of the Trading Market upon which the Ordinary Shares
may be listed. The Company covenants that all Warrant Shares which may be issued upon the exercise of the purchase rights
represented by this Warrant will, upon exercise of the purchase rights represented by this Warrant and payment for such Warrant
Shares in accordance herewith, be duly authorized, validly issued, fully paid and nonassessable and free from all taxes, liens and
charges created by the Company in respect of the issue thereof (other than taxes in respect of any transfer occurring
contemporaneously with such issue).

 

ii. Except and
to the extent as waived or consented to by the Holder, the Company shall not by any action, including, without limitation, amending
its certificate of incorporation or through any reorganization, transfer of assets, consolidation, merger, dissolution, issue or
sale of securities or any other voluntary action, avoid or seek to avoid the observance or performance of any of the terms of this
Warrant, but will at all times in good faith assist in the carrying out of all such terms and in the taking of all such actions as
may be necessary or appropriate to protect the rights of Holder as set forth in this Warrant against impairment. Without limiting
the generality of the foregoing, the Company will (i) not increase the par value of any Warrant Shares above the amount payable
therefor upon such exercise immediately prior to such increase in par value, (ii) take all such action as may be necessary or
appropriate in order that the Company may validly and legally issue fully paid and nonassessable Warrant Shares upon the exercise of
this Warrant and (iii) use commercially reasonable efforts to obtain all such authorizations, exemptions or consents from any public
regulatory body having jurisdiction thereof, as may be, necessary to enable the Company to perform its obligations under this
Warrant.

 

    10

     

    

 

iii. Before
taking any action which would result in an adjustment in the number of Warrant Shares for which this Warrant is exercisable or in
the Exercise Price, the Company shall obtain all such authorizations or exemptions thereof, or consents thereto, as may be necessary
from any public regulatory body or bodies having jurisdiction thereof.

 

e) Governing
Law; Venue. This Warrant shall be deemed to have been executed and delivered in New York and both this Warrant and the
transactions contemplated hereby shall be governed as to validity, interpretation, construction, effect, and in all other respects
by the laws of the State of New York applicable to agreements wholly performed within the borders of such state and without regard
to the conflicts of laws principals thereof (other than Section 5-1401 of The New York General Obligations Law). Each of the Holder
and the Company: (a) agrees that any legal suit, action or proceeding arising out of or relating to this Warrant and/or the
transactions contemplated hereby shall be instituted exclusively in the Supreme Court of the State of New York, New York County, or
in the United States District Court for the Southern District of New York, (b) waives any objection which it may have or hereafter
to the venue of any such suit, action or proceeding, and (c) irrevocably consents to the jurisdiction of Supreme Court of the State
of New York, New York County, or in the United States District Court for the Southern District of New York in any such suit, action
or proceeding. Each of the Holder and the Company further agrees to accept and acknowledge service of any and all process which may
be served in any such suit, action or proceeding in the Supreme Court of the State of New York, New York County, or in the United
States District Court for the Southern District of New York and agrees that service of process upon the Company mailed by certified
mail to the Company’s address or delivered by Federal Express via overnight delivery shall be deemed in every respect
effective service of process upon the Company, in any such suit, action or proceeding, and service of process upon the Holder mailed
by certified mail to the Holder’s address or delivered by Federal Express via overnight delivery shall be deemed in every
respect effective service process upon the Holder, in any such suit, action or proceeding. THE HOLDER (ON BEHALF OF ITSELF, ITS
SUBSIDIARIES AND, TO THE FULLEST EXTENT PERMITTED BY LAW, ON BEHALF OF ITS RESPECTIVE EQUITY HOLDERS AND CREDITORS) HEREBY WAIVES
ANY RIGHT HOLDER MAY HAVE TO A TRIAL BY JURY IN RESPECT OF ANY CLAIM BASED UPON, ARISING OUT OF OR IN CONNECTION WITH THIS WARRANT
AND THE TRANSACTIONS CONTEMPLATED BY THIS WARRANT.

 

f) Restrictions.
The Holder acknowledges that the Warrant Shares acquired upon the exercise of this Warrant, if not registered, and the Holder does
not utilize cashless exercise, will have restrictions upon resale imposed by state and federal securities laws.

 

g)
Nonwaiver and Expenses. No course of dealing or any delay or failure to exercise any right hereunder on the part of Holder
shall operate as a waiver of such right or otherwise prejudice the Holder’s rights, powers or remedies. Without limiting any other
provision of this Warrant, if the Company willfully and knowingly fails to comply with any provision of this Warrant, which results in
any material damages to the Holder, the Company shall pay to the Holder such amounts as shall be sufficient to cover any costs and expenses
including, but not limited to, reasonable attorneys’ fees, including those of appellate proceedings, incurred by the Holder in collecting
any amounts due pursuant hereto or in otherwise enforcing any of its rights, powers or remedies hereunder.

 

h)
Notices. Any and all notices or other communications or deliveries to be provided hereunder shall be made in accordance
with Section 7.3 of the Underwriting Agreement.

 

i) Limitation
of Liability. No provision hereof, in the absence of any affirmative action by the Holder to exercise this Warrant to purchase
Warrant Shares, and no enumeration herein of the rights or privileges of the Holder, shall give rise to any liability of the Holder
for the purchase price of any Ordinary Shares or as a shareholder of the Company, whether such liability is asserted by the Company
or by creditors of the Company.

 

    11

     

    

 

j) Remedies.
The Holder, in addition to being entitled to exercise all rights granted by law, including recovery of damages, will be entitled to
specific performance of its rights under this Warrant. The Company agrees that monetary damages would not be adequate compensation
for any loss incurred by reason of a breach by it of the provisions of this Warrant and hereby agrees to waive and not to assert the
defense in any action for specific performance that a remedy at law would be adequate.

 

k)
Successors and Assigns. Subject to applicable securities laws, this Warrant and the rights and obligations evidenced hereby
shall inure to the benefit of and be binding upon the successors and permitted assigns of the Company and the successors and permitted
assigns of Holder. The provisions of this Warrant are intended to be for the benefit of any Holder from time to time of this Warrant and
shall be enforceable by the Holder or holder of Warrant Shares.

 

l) Amendment.
This Warrant may be modified or amended or the provisions hereof waived with the written consent of the Company, on the one hand,
and the Holder or the beneficial owner of this Warrant, on the other hand.

 

m) Severability.
Wherever possible, each provision of this Warrant shall be interpreted in such manner as to be effective and valid under applicable
law, but if any provision of this Warrant shall be prohibited by or invalid under applicable law, such provision shall be
ineffective to the extent of such prohibition or invalidity, without invalidating the remainder of such provisions or the remaining
provisions of this Warrant.

 

n)
Headings. The headings used in this Warrant are for the convenience of reference only and shall not, for any purpose, be
deemed a part of this Warrant.

 

********************

 

(Signature Page Follows)

 

    12

     

    

 

IN WITNESS WHEREOF, the Company
has caused this Warrant to be executed by its officer thereunto duly authorized as of the date first above indicated.

 

	 	NEUROSENSE THERAPEUTICS LTD.
	 	 	 
	 	By:	                            
	 	Name:	 
	 	Title:	 

 

     

     

    

 

NOTICE OF EXERCISE

 

		To:	NEUROSENSE THERAPEUTICS
LTD.

 

(1) The
undersigned hereby elects to purchase ________ Warrant Shares of the Company pursuant to the terms of the attached Warrant (only if
exercised in full), and tenders herewith payment of the exercise price in full, together with all applicable transfer taxes, if
any.

 

(2) Payment
shall take the form of (check applicable box):

 

		☐	in lawful money of the United States; or

 

		☐	if permitted the cancellation of such number of Warrant Shares
as is necessary, in accordance with the formula set forth in subsection 2(c), to exercise this Warrant with respect to the maximum number
of Warrant Shares purchasable pursuant to the cashless exercise procedure set forth in subsection 2(c).

 

(3) Please
issue said Warrant Shares in the name of the undersigned or in such other name as is specified below:

 

_______________________________

  

The Warrant Shares shall be delivered to the following
DWAC Account Number:

 

_______________________________

 

_______________________________

 

_______________________________

 

[SIGNATURE
OF HOLDER]

 

Name of Investing Entity: ___________________________________________________

 

________________________________________________________________________

Signature of Authorized Signatory of Investing
Entity:

 

_________________________________________________

Name of Authorized Signatory:

 

___________________________________________________________________

Title of Authorized Signatory:

 

Date: ___________________________________________________________________

 

     

     

    

 

ASSIGNMENT FORM

 

(To assign the foregoing
Warrant, execute this form and supply required information. Do not use this form to purchase shares.)

 

FOR VALUE RECEIVED, the foregoing
Warrant and all rights evidenced thereby are hereby assigned to

 

	Name:	
	 	(Please Print)
	Address:	
	 	(Please Print)
	Phone Number:	 
	 	 
	Email Address:	 

 

Dated:____________ ___,
_________

 

Holder’s Signature:____________________

 

Holder’s Address:____________________

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00337-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00337-of-00352.parquet"}]]