<SEC-DOCUMENT>0001144204-18-033540.txt : 20180608
<SEC-HEADER>0001144204-18-033540.hdr.sgml : 20180608
<ACCEPTANCE-DATETIME>20180608160719
ACCESSION NUMBER:		0001144204-18-033540
CONFORMED SUBMISSION TYPE:	S-8
PUBLIC DOCUMENT COUNT:		5
FILED AS OF DATE:		20180608
DATE AS OF CHANGE:		20180608
EFFECTIVENESS DATE:		20180608

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			Protalix BioTherapeutics, Inc.
		CENTRAL INDEX KEY:			0001006281
		STANDARD INDUSTRIAL CLASSIFICATION:	BIOLOGICAL PRODUCTS (NO DIAGNOSTIC SUBSTANCES) [2836]
		IRS NUMBER:				650643773
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		S-8
		SEC ACT:		1933 Act
		SEC FILE NUMBER:	333-225526
		FILM NUMBER:		18889516

	BUSINESS ADDRESS:	
		STREET 1:		2 SNUNIT ST
		STREET 2:		SCIENCE PARK, POB 455
		CITY:			CARMIEL
		STATE:			L3
		ZIP:			20100
		BUSINESS PHONE:		972-4-988-9488

	MAIL ADDRESS:	
		STREET 1:		2 SNUNIT ST
		STREET 2:		SCIENCE PARK, POB 455
		CITY:			CARMIEL
		STATE:			L3
		ZIP:			20100

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	ORTHODONTIX INC
		DATE OF NAME CHANGE:	19980422

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	EMBASSY ACQUISITION CORP
		DATE OF NAME CHANGE:	19960124
</SEC-HEADER>
<DOCUMENT>
<TYPE>S-8
<SEQUENCE>1
<FILENAME>tv496075_s8.htm
<DESCRIPTION>FORM S-8
<TEXT>
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<!-- Field: Rule-Page --><DIV ALIGN="LEFT" STYLE="margin-top: 0; margin-bottom: 0"><DIV STYLE="font-size: 1pt; border-top: Black 2pt solid; border-bottom: Black 1pt solid; width: 100%">&nbsp;</DIV></DIV><!-- Field: /Rule-Page -->

<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="margin: 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><B>Registration No. 333-_______</B></P>

<!-- Field: Rule-Page --><DIV ALIGN="LEFT" STYLE="margin-top: 1pt; margin-bottom: 1pt"><DIV STYLE="font-size: 0.75pt; border-top: Black 0.75pt solid; border-bottom: Black 0.75pt solid; width: 100%">&nbsp;</DIV></DIV><!-- Field: /Rule-Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>UNITED STATES<BR>
SECURITIES AND EXCHANGE COMMISSION</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Washington, D.C. 20549</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">________________</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>FORM S-8</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>REGISTRATION STATEMENT <FONT STYLE="text-transform: uppercase">Under
</FONT>THE SECURITIES ACT OF 1933</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">________________</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-size: 14pt"><B>Protalix
BioTherapeutics, Inc.</B></FONT><B> </B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>(Exact name of registrant as specified
in its Charter)</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 40%; text-align: center"><B>Delaware</B></TD>
    <TD STYLE="width: 20%">
</TD>
    <TD STYLE="width: 40%; text-align: center"><B>65-0643773</B></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 10pt"><B>(State or other jurisdiction</B></FONT></TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 10pt"><B>(I.R.S. Employer</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 10pt"><B>of incorporation or organization)</B></FONT></TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 10pt"><B>Identification Number)</B></FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>2 Snunit Street</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>Science Park</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>P.O. Box 455</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>Carmiel, Israel 20100</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>972-4-988-9488</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>(Address of principal executive offices)</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">________________</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>Protalix BioTherapeutics, Inc. Amended
&amp; Restated 2006 Stock Incentive Plan</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>(Full title of plan)</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>Moshe Manor </B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>President and Chief Executive Officer
</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>2 Snunit Street, Science Park</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>P.O. Box 455</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>Carmiel 20100, Israel</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>972-4-988-9488</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">________________</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>CT Corporation System </B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>111 Eighth Avenue </B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>New York, NY 10011 </B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>Tel: (212)&nbsp;894-8400 </B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>(Name, address, including zip code, and
telephone number, including area code, of agent for service)</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">________________</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B><I>With a Copy to:</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>Anna T. Pinedo</B> <B><BR>
Mayer Brown LLP<BR>
</B> <B>1221 Avenue of the Americas</B><BR> <B>New York, New York 10020-1001</B><BR> <B>(212) 506-2500</B></P>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">________________</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Indicate by check mark whether the registrant is a large accelerated
filer, an accelerated filer, a non-accelerated filer, smaller reporting company or an emerging growth company. See the definitions
of &ldquo;large accelerated filer,&rdquo; &ldquo;accelerated filer,&rdquo; &ldquo;smaller reporting company,&rdquo; and &ldquo;emerging
growth company in Rule 12b-2 of the Exchange Act.&nbsp;&nbsp;(check one):</P>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: left">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="width: 49%; font: 10pt Wingdings; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Large
    accelerated filer <FONT STYLE="font-family: Wingdings">&#168;</FONT></FONT></TD><TD STYLE="width: 2%; font: 10pt Wingdings"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 49%; font: 10pt Wingdings; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Accelerated
filer&nbsp;</FONT><FONT STYLE="font-family: Wingdings; font-size: 10pt">&#120;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD NOWRAP STYLE="font: 10pt Wingdings; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Non-accelerated filer </FONT><FONT STYLE="font-family: Wingdings; font-size: 10pt">&#168;
</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(Do not check if a smaller reporting company)</FONT></TD>
    <TD STYLE="font: 10pt Wingdings; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Wingdings; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">Smaller reporting
    company <FONT STYLE="font-family: Wingdings">&#168;</FONT></FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Wingdings"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Wingdings; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Emerging
growth company <FONT STYLE="font-family: Wingdings">&#168;</FONT></FONT></TD></TR>
</TABLE>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: left">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">If an emerging growth company, indicate by check mark if the
registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards
provided pursuant to Section 7(a)(2)(B) of the Securities Act. <FONT STYLE="font-family: Wingdings">&#168;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>




<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>CALCULATION OF REGISTRATION FEE </B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom">
    <TD NOWRAP STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center; border-bottom: Black 1pt solid"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>Title of each class of</B></P> <P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>securities to be registered</B></P></TD><TD NOWRAP STYLE="font-size: 10pt; font-weight: bold; padding-bottom: 1pt; text-align: center">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Amount to be<BR>
 registered (1)</TD><TD NOWRAP STYLE="padding-bottom: 1pt; font-size: 10pt; font-weight: bold; text-align: center">&nbsp;</TD><TD NOWRAP STYLE="font-size: 10pt; font-weight: bold; padding-bottom: 1pt; text-align: center">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Proposed maximum<BR>
 offering price</TD><TD NOWRAP STYLE="padding-bottom: 1pt; font-size: 10pt; font-weight: bold; text-align: center">&nbsp;</TD><TD NOWRAP STYLE="font-size: 10pt; font-weight: bold; padding-bottom: 1pt; text-align: center">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Proposed maximum<BR>
 aggregate offering<BR>
 price</TD><TD NOWRAP STYLE="padding-bottom: 1pt; font-size: 10pt; font-weight: bold; text-align: center">&nbsp;</TD><TD NOWRAP STYLE="font-size: 10pt; font-weight: bold; padding-bottom: 1pt; text-align: center">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Amount of<BR>
 registration fee</TD><TD NOWRAP STYLE="padding-bottom: 1pt; font-size: 10pt; font-weight: bold; text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="width: 44%; font-size: 10pt; padding-bottom: 1pt">Common stock, par value $0.001 per share</TD><TD STYLE="width: 2%; font-size: 10pt; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="width: 1%; padding-bottom: 1pt; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="width: 10%; padding-bottom: 1pt; font-size: 10pt; text-align: right">10,000,000</TD><TD STYLE="width: 1%; padding-bottom: 1pt; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="width: 2%; font-size: 10pt; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="width: 1%; padding-bottom: 1pt; font-size: 10pt; text-align: left">$</TD><TD STYLE="width: 10%; padding-bottom: 1pt; font-size: 10pt; text-align: right">0.495</TD><TD NOWRAP STYLE="width: 1%; padding-bottom: 1pt; font-size: 10pt; text-align: left">(2)</TD><TD STYLE="width: 2%; font-size: 10pt; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="width: 1%; padding-bottom: 1pt; font-size: 10pt; text-align: left">$</TD><TD STYLE="width: 10%; padding-bottom: 1pt; font-size: 10pt; text-align: right">4,950,000</TD><TD NOWRAP STYLE="width: 1%; padding-bottom: 1pt; font-size: 10pt; text-align: left">(2)</TD><TD STYLE="width: 2%; font-size: 10pt; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="width: 1%; padding-bottom: 1pt; font-size: 10pt; text-align: left">$</TD><TD STYLE="width: 10%; padding-bottom: 1pt; font-size: 10pt; text-align: right">616.28</TD><TD STYLE="width: 1%; padding-bottom: 1pt; font-size: 10pt; text-align: left">&nbsp;</TD></TR>
</TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>




<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">(1)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;This Registration
Statement also registers additional securities to be offered or issued upon adjustments or changes made to registered securities
by reason of any stock splits, stock dividends or similar transactions as permitted by Rule 416(a) and Rule 416(b) under the Securities
Act of 1933, as amended (the &lsquo;&lsquo;Securities Act&rsquo;&rsquo;).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">(2)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Estimated pursuant
to Rule 457(h) and Rule 457(c) solely for purposes of calculating the aggregate offering price and the amount of the registration
fee based upon the average of the high and low prices reported for the shares on the NYSE American on June 5, 2018.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>




<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">EXPLANATORY NOTE</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Protalix BioTherapeutics, Inc., a Delaware corporation previously
filed a registration statement on Form S-8 (File No. 333-148983) with the Securities and Exchange Commission, or the Commission,
in connection with the registration of an aggregate of 9,741,655 shares of our common stock, par value $.001 per share, to be issued
under the Protalix BioTherapeutics, Inc. Amended &amp; Restated 2006 Stock Incentive Plan, or the Plan, and subsequently filed
a second registration statement on Form S-8 (File No. 333-182677) with the Commission in connection with the registration of an
aggregate of 1,600,000 additional shares of our common stock to be issued under the Plan. In addition, we filed a third registration
statement on Form S-8 (File No. 333-203960) with the Commission in connection with the registration of an aggregate of 2,500,000
additional shares of our common stock to be issued under the Plan.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Pursuant to General Instruction E of Form S-8, we are filing
this registration statement on Form S-8 solely to register an additional 10,000,000 shares of our common stock available for issuance
under the Plan. This increase was approved by our Board of Directors and our stockholders. Pursuant to Instruction E, the contents
of Registration Statements on Form S-8 (File Nos. 333-148983, 333-182677 and 333-203960), including without limitation periodic
reports that we filed, or will file, after this Registration Statement to maintain current information about our company, are hereby
incorporated by reference into this Registration Statement pursuant to General Instruction E of Form S-8, with the exception of
Items 3 and 8 of Part II of such prior Registration Statement, each of which is amended and restated in its entirety herein.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">PART I</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0">INFORMATION REQUIRED IN THE SECTION 10(a) PROSPECTUS</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 1in">Item 1.</TD><TD>Plan Information.</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">The documents containing the information specified in Part I
(plan and registrant information) will be delivered in accordance with Rule 428(b)(1) under the Securities Act. Such documents
are not required to be, and are not, filed with the Commission, either as part of this Registration Statement or as prospectuses
or prospectus supplements pursuant to Rule 424 under the Securities Act. These documents, and the documents incorporated by reference
in this Registration Statement pursuant to Item 3 of Part II of this Form S-8, taken together, constitute a prospectus that meets
the requirements of Section 10(a) of the Securities Act.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 1in">Item 2.</TD><TD>Registrant Information and Employee Plan Annual Information.</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Upon written or oral request, any of the documents incorporated
by reference in Item 3 of Part II of this Registration Statement, which are also incorporated by reference in the Section 10(a)
prospectus, other documents required to be delivered to eligible participants pursuant to Rule 428(b), or additional information
about the Plan, will be available without charge by contacting the Corporate Secretary, Protalix BioTherapeutics, Inc., 2 Snunit
Street, Science Park, P.O. Box 455, Carmiel 20100, Israel, Telephone: +972-4-988-9488.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>


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<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">PART II</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0">INFORMATION REQUIRED IN THE REGISTRATION STATEMENT</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 1in">Item 3.</TD><TD>Incorporation of Documents by Reference.</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">The Commission allows us to &ldquo;incorporate by reference&rdquo;
the information we file with the Commission, which means we can disclose important information to you by referring you to those
documents. The information we incorporate by reference is an important part of this prospectus, and certain information that we
will later file with the Commission will automatically update and supersede this information. We incorporate by reference the documents
listed below as well as any future filings made with the Commission under Sections 13(a), 13(c), 14 or 15(d) of the Exchange Act
after the date of this prospectus until we sell all of the securities under this prospectus, except that we do not incorporate
any document or portion of a document that is &ldquo;furnished&rdquo; to the Commission, but not deemed &ldquo;filed.&rdquo; The
following documents filed with the Commission are incorporated by reference in this prospectus:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in">&bull;</TD><TD>our Annual Report on Form 10-K, for the year ended December 31, 2017;</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in">&bull;</TD><TD>our Quarterly Report on Form 10-Q for the quarter ended March 31, 2018;</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in">&bull;</TD><TD>our Current Reports on Form 8-K filed with the Commission on January 5, 2018 (Item 9.01 only); January 31, 2018; March 6, 2018
(Item 9.01 only); March 21, 2018 (Item 9.01 only); April 16, 2018; May 9, 2018 (Item 9.01 only); May 14, 2018; May 24, 2018; and
May 31, 2018;</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in">&bull;</TD><TD>our definitive Proxy Statement for our Annual Meeting of Shareholders held on May 13, 2018 filed with the Commission on March
6, 2018 (other than information furnished rather than filed); and</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in">&bull;</TD><TD>the description of our common stock included in our registration statement on Form 8-A12B (File No. 001-33357) filed with the
Commission on March 9, 2007, including any amendment or reports filed for the purpose of updating such description.</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">All documents filed by us pursuant to Sections 13(a), 13(c),
14 and 15(d) of the Exchange Act after the date of this registration statement shall be deemed to be incorporated by reference
in the registration statement and to be a part hereof from the date of filing of such documents (other than information that is
furnished in such documents but deemed by the rules of the Commission not to have been filed). Any statement contained in a document
incorporated by reference herein shall be deemed to be modified or superseded for purposes of this registration statement to the
extent that a statement contained herein or in any other subsequently filed document which also is or is deemed to be incorporated
by reference herein modifies or supersedes such statement. Any statement so modified or superseded shall not be deemed, except
as so modified or superseded, to constitute a part of this registration statement. You may request and obtain a copy of these filings,
at no cost, by writing or telephoning us at the following address or phone number:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>2 Snunit Street</B><BR>
<B>Science Park</B><BR>
<B>P.O. Box 455</B><BR>
<B>Carmiel 20100, Israel</B><BR>
<B>+972-4-988-9488</B><BR>
<B>Attn: Yossi Maimon, Chief Financial Officer</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">You should rely only on the information in this prospectus and
the documents that are incorporated by reference. We have not authorized anyone else to provide you with different information.
We are not offering these securities in any state where the offering is prohibited by law. You should not assume that the information
in this prospectus or any incorporated document is accurate as of any date other than the date of the document.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 1in">Item 4.</TD><TD>Description of Securities.</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Not applicable.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 1in">Item 5.</TD><TD>Interests of Named Experts and Counsel.</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Not applicable.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 1in">Item 6.</TD><TD>Indemnification of Directors and Officers.</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">We indemnify our directors and officers to the maximum extent
permitted by Delaware law for the costs and liabilities of acting or failing to act in an official capacity. In addition, we have
entered into indemnification agreements with each of our executive officers and directors to provide them with the maximum indemnification
allowed under our amended and restated bylaws and applicable Delaware law, including indemnification for all judgments and expenses
incurred as the result of any lawsuit in which such person is named as a defendant by reason of being our director, officer or
employee, to the extent indemnification is permitted by the laws of Delaware. We believe that the indemnification agreements will
enhance our ability to continue to attract and retain qualified individuals to serve as directors and officers.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">The articles of association of Protalix Ltd., our wholly-owned
subsidiary, allow it to exculpate, indemnify, and insure its office holders to the fullest extent permitted by Israeli law, as
described below. Accordingly, Protalix Ltd. has entered into indemnification agreements with each of its officers and directors
undertaking to indemnify them to the fullest extent permitted by Israeli law. As required by law, the indemnification is limited
to events determined as foreseeable by the board of directors of Protalix Ltd. based on the activities of Protalix Ltd. upon adoption
of the form of indemnification in 2016, and to an amount determined by the board of directors as reasonable under the circumstances.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">We purchase and maintain a directors and officers liability
insurance policy which covers the liability of our directors and officers on a &quot;claims made&quot; basis for their ongoing
activity since December 28, 2006, with a limit of $30,000,000 for any one claim and in the aggregate for the period of insurance
with the addition of 20% of the above limit for legal defense costs (in Israel).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Furthermore, we purchase and maintain a Side A Excess and Difference
In Conditions insurance which covers the non-indemnifiable liability of our directors and officers on a &quot;claims made&quot;
basis for their ongoing activity since December 28, 2006, with a limit of $5,000,000 for any one claim and in the aggregate for
the period of insurance with the addition of 20% of the above limit for legal defense costs (in Israel).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">As of the date of hereof, no claims for directors&rsquo; and
officers&rsquo; liability insurance have been filed under those policies and neither us nor Protalix Ltd. is aware of any pending
or threatened litigation or proceeding involving any of our directors or officers, or those of Protalix Ltd., in which indemnification
is sought.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">We have undertaken to fulfill and honor in all respects the
obligations of Protalix Ltd. pursuant to any indemnification agreements between Protalix Ltd. and its directors in effect prior
to December&nbsp;31, 2006 and to provide any substitute director and the officers of Protalix Ltd. with similar indemnification
agreements. We further agreed that any provision of Protalix Ltd.&rsquo;s charter documents that relate to exculpation and indemnification
of officers and directors of Protalix Ltd. will not be amended, repealed, or otherwise modified in any manner that would adversely
affect the rights of the directors and officers, unless such modification is required by any applicable law.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Under Israeli law, an Israeli company may not exculpate an office
holder from liability for a breach of the duty of loyalty of the office holder. An Israeli company may exculpate an office holder
in advance from liability, in whole or in part, for damages caused due to a breach of duty of care owed to the company (other than
in the event that such liability arises out of a breach of duty of care to the company upon distribution) but only if a provision
authorizing such exculpation is inserted in its articles of association. Protalix Ltd.&rsquo;s articles of association include
such a provision.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">An Israeli company may indemnify an office holder in respect
of certain liabilities or expenses either in advance of an event or following an event provided a provision authorizing such indemnification
is inserted in its articles of association. Protalix Ltd.&rsquo;s articles of association contain such an authorization. An Israeli
company may indemnify an office holder against the following liabilities or expenses incurred for acts performed as an office holder:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 0.5in">(A)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>financial liability imposed on or incurred by him or her in favor of another person pursuant to a judgment, settlement or
arbitrator&rsquo;s award approved by a court<FONT STYLE="color: black">;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 0.5in">(B)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="color: black">reasonable litigation expenses, including attorneys&rsquo; fees, incurred by the office holder
as a result of an investigation or proceeding instituted against him or her by an authority authorized to conduct such investigation
or proceeding, provided that (i) no indictment was filed against such office holder as a result of such investigation or proceeding;
and (ii) no financial liability, such as a criminal penalty, was imposed upon him or her as a substitute for the criminal proceeding
as a result of such investigation or proceeding or, if such financial liability was imposed, it was imposed with respect to an
offense that does not require proof of criminal intent or with regard to a monetary sanction;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 0.5in">(C)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="color: black">reasonable litigation expenses, including attorneys&rsquo; fees, incurred by the office holder
or imposed by a court in proceedings instituted against him or her by the company, on its behalf or by a third party or in connection
with criminal proceedings in which the office holder was acquitted or as a result of a conviction for a crime that does not require
proof of criminal intent; and </FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 0.5in">(D)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="color: black">A payment which the office holder is obligated to make to an injured party as set forth in Section
52(54)(a)(1)(a) of the Israeli Securities Law, 5278-1968, as amended (&ldquo;Israeli Securities Law&rdquo;), and reasonable litigation
expenses, including attorneys&rsquo; fees, that the office holder incurred in connection with a proceeding under Chapters H&rsquo;3,
H&rsquo;4 or I&rsquo;1 of the Israeli Securities Law.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">An undertaking provided in advance by an Israeli company to
indemnify an office holder with respect to (A), as abovementioned, must be limited to events which, in the opinion of the board
of directors, can be foreseen based on the company&rsquo;s activities when the undertaking to indemnify is given, and to an amount
or according to criteria determined by the board of directors as reasonable under the circumstances, and such undertaking shall
detail the abovementioned events and amount or criteria. We are permitted to provide an office holder advanced payments to cover
expenses covered under (D) above.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">An Israeli company may insure an office holder against the following
liabilities incurred for acts performed as an office holder:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>a breach of duty of care to the company or to a third party;</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>a breach of duty of loyalty to the company, to the extent that the office holder acted in good faith and had a reasonable basis
to believe that the act would not be detrimental to the interests of the company;</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>a financial liability imposed on the office holder in favor of a third party in respect of an act performed in his or her capacity
as an office holder; and</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>A payment which the office holder is obligated to make to an injured party as set forth in Section 52(54)(a)(1)(a) of the Israeli
Securities Law and reasonable litigation expenses, including attorneys&rsquo; fees, that the office holder incurred in connection
with a proceeding under Chapters H&rsquo;3, H&rsquo;4 or I&rsquo;1 of the Israeli Securities Law.</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">An Israeli company may not insure, indemnify or exculpate an
office holder against any of the following:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>a breach of duty of loyalty, except to the extent that the office holder acted in good faith and had a reasonable basis to
believe that the act would not be detrimental to the interests of the company;</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>a grossly negligent or intentional violation of an office holder&rsquo;s duty of care;</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif"></P>

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<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>an act or omission committed with intent to derive illegal personal benefit; or</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>a fine, civil fine, monetary sanction or ransom levied against the office holder.</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Under the Israeli law, exculpation, indemnification, and insurance
of office holders must be approved by the board of directors of Protalix Ltd. and, in respect of directors of Protalix Ltd., also
by the shareholders of Protalix Ltd. Such approvals were properly obtained.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Insofar as indemnification for liabilities arising under the
Securities Act may be permitted to our directors and officers or persons controlling us pursuant to the foregoing provisions, or
otherwise, we have been advised that, in the opinion of the Commission, such indemnification is against public policy as expressed
in the Securities Act, and is, therefore, unenforceable. With respect to insurance and indemnification for liabilities and expenses
arising under the Israeli Securities Law, such insurance and indemnification is permissible only to the extent described in this
Item 6.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 1in">Item 7.</TD><TD STYLE="text-align: justify">Exemption from Registration Claims.</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-weight: normal">Not applicable.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0"></TD><TD STYLE="width: 1in; text-align: left">Item 8.</TD><TD STYLE="text-align: justify">Exhibits<I>.</I></TD>
</TR></TABLE>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom">
    <TD NOWRAP STYLE="font: bold 10pt Times New Roman, Times, Serif; border-bottom: Black 1pt solid; text-align: left; vertical-align: top">Exhibit<BR> Number</TD><TD NOWRAP STYLE="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left; vertical-align: top">&nbsp;</TD>
    <TD NOWRAP STYLE="font: bold 10pt Times New Roman, Times, Serif; border-bottom: Black 1pt solid; text-align: left; vertical-align: bottom">Exhibit Description</TD><TD NOWRAP STYLE="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left; vertical-align: top">&nbsp;</TD>
    <TD NOWRAP STYLE="font: bold 10pt Times New Roman, Times, Serif; border-bottom: Black 1pt solid; text-align: left; vertical-align: bottom">Method of Filing</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; font: bold 10pt Times New Roman, Times, Serif; text-align: left; vertical-align: top">&nbsp;</TD><TD STYLE="white-space: nowrap; font: bold 10pt Times New Roman, Times, Serif; text-align: left; vertical-align: top">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; font: bold 10pt Times New Roman, Times, Serif; text-align: left; vertical-align: bottom">&nbsp;</TD><TD STYLE="white-space: nowrap; font: bold 10pt Times New Roman, Times, Serif; text-align: left; vertical-align: top">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; font: bold 10pt Times New Roman, Times, Serif; text-align: left; vertical-align: bottom">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="width: 10%; font-size: 10pt; text-align: left; vertical-align: top"><A HREF="http://www.sec.gov/Archives/edgar/data/1006281/000157104918000157/tv486986-def14a.htm" STYLE="-sec-extract: exhibit">4.1</A></TD><TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif; text-align: left; vertical-align: top">&nbsp;</TD>
    <TD STYLE="width: 44%; font: 10pt Times New Roman, Times, Serif; text-align: left; vertical-align: top"><A HREF="http://www.sec.gov/Archives/edgar/data/1006281/000157104918000157/tv486986-def14a.htm" STYLE="-sec-extract: exhibit">Protalix BioTherapeutics, Inc. Amended &amp; Restated 2006 Stock Incentive Plan </A></TD><TD STYLE="width: 1%; font-size: 10pt; text-align: left; vertical-align: top">&nbsp;</TD>
    <TD STYLE="width: 44%; font-size: 10pt; text-align: left; vertical-align: top"><A HREF="http://www.sec.gov/Archives/edgar/data/1006281/000157104918000157/tv486986-def14a.htm" STYLE="-sec-extract: exhibit">(Incorporated herein by reference to Appendix B to our Definitive Proxy Statement on Schedule 14A (File No. 001-33357), filed with the Commission on March 6, 2018)</A></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font-size: 10pt; text-align: left; vertical-align: top">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; vertical-align: top">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; vertical-align: top">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left; vertical-align: top">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left; vertical-align: top">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font-size: 10pt; text-align: left; vertical-align: top"><A HREF="tv496075_ex5-1.htm" STYLE="-sec-extract: exhibit">5.1</A></TD><TD STYLE="font-size: 10pt; text-align: left; vertical-align: top">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left; vertical-align: top"><A HREF="tv496075_ex5-1.htm" STYLE="-sec-extract: exhibit">Opinion of Mayer Brown LLP, New York, New York as to the legality of the securities being registered</A></TD><TD STYLE="font-size: 10pt; text-align: left; vertical-align: top">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left; vertical-align: top"><A HREF="tv496075_ex5-1.htm" STYLE="-sec-extract: exhibit">Filed herewith</A></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font-size: 10pt; text-align: left; vertical-align: top">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left; vertical-align: top">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left; vertical-align: top">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left; vertical-align: top">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left; vertical-align: top">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font-size: 10pt; text-align: left; vertical-align: top"><A HREF="tv496075_ex5-1.htm" STYLE="-sec-extract: exhibit">23.1</A></TD><TD STYLE="font-size: 10pt; text-align: left; vertical-align: top">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left; vertical-align: top"><A HREF="tv496075_ex5-1.htm" STYLE="-sec-extract: exhibit">Consent of Mayer Brown LLP, New York, New York (included in Exhibit 5.1)</A></TD><TD STYLE="font-size: 10pt; text-align: left; vertical-align: top">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left; vertical-align: top"><A HREF="tv496075_ex5-1.htm" STYLE="-sec-extract: exhibit">Filed herewith</A></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font-size: 10pt; text-align: left; vertical-align: top">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left; vertical-align: top">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left; vertical-align: top">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left; vertical-align: top">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left; vertical-align: top">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font-size: 10pt; text-align: left; vertical-align: top"><A HREF="tv496075_ex23-2.htm" STYLE="-sec-extract: exhibit">23.2</A></TD><TD STYLE="font-size: 10pt; text-align: left; vertical-align: top">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left; vertical-align: top"><A HREF="tv496075_ex23-2.htm" STYLE="-sec-extract: exhibit">Consent of Kesselman &amp; Kesselman, Certified Public Accountant (Isr.), a member of PricewaterhouseCoopers International Limited, independent registered public accounting firm for the Registrant</A></TD><TD STYLE="font-size: 10pt; text-align: left; vertical-align: top">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left; vertical-align: top"><A HREF="tv496075_ex23-2.htm" STYLE="-sec-extract: exhibit">Filed herewith</A></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font-size: 10pt; text-align: left; vertical-align: top">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left; vertical-align: top">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left; vertical-align: top">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left; vertical-align: top">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left; vertical-align: top">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font-size: 10pt; text-align: left; vertical-align: top"><A HREF="#poa">24.1</A></TD><TD STYLE="font-size: 10pt; text-align: left; vertical-align: top">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left; vertical-align: top"><A HREF="#poa">Power of Attorney (included on signature page)</A></TD><TD STYLE="font-size: 10pt; text-align: left; vertical-align: top">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left; vertical-align: top"><A HREF="#poa">Filed herewith</A></TD></TR>
</TABLE>
<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 1in">Item 9.</TD><TD>Undertakings.</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">The undersigned registrant hereby undertakes:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">(1)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;to file, during
any period in which offers or sales are being made, a post-effective amendment to this Registration Statement;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">(i)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;to
include any prospectus required by Section 10(a)(3) of the Securities Act;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">(ii)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;to
reflect in the prospectus any facts or events arising after the effective date of the Registration statement (or most recent post-effective
amendment thereof) which, individually or in the aggregate, represent a fundamental change in the information set forth in the
Registration Statement. Notwithstanding the foregoing, any increase or decrease in volume of securities offered (if the total dollar
value of securities offered would not exceed that which was registered) and any deviation from the low or high end of the estimated
maximum offering range may be reflected in the form of prospectus filed with the Commission pursuant to Rule 424(b) if, in the
aggregate, the change in volume and price represent no more than a 20 percent change in the maximum aggregate offering price set
forth in the &ldquo;Calculation of Registration Fee&rdquo; table in the effective Registration Statement; and</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">(iii)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;to
include any material information with respect to the plan of distribution not previously disclosed in this Registration Statement
or any material change to such information in this Registration Statement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><I>provided</I>, <I>however</I>, that paragraphs (1)(i) and
(1)(ii) of this section do not apply if the information required to be included in a post-effective amendment by those paragraphs
is contained in reports filed with or furnished to the Commission by the registrant pursuant to Section 13 or Section 15(d) of
the Exchange Act that are incorporated by reference in the Registration Statement;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">(2)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;that, for the purpose
of determining any liability under the Securities Act, each such post-effective amendment shall be deemed to be a new registration
statement relating to the securities offered therein, and the offering of such securities at that time shall be deemed to be the
initial <I>bona fide</I> offering thereof; and</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">(3)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;to remove from
registration by means of a post-effective amendment any of the securities being registered which remain unsold at the termination
of the offering.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">The undersigned registrant hereby undertakes that, for purposes
of determining any liability under the Securities Act, each filing of the registrant&rsquo;s annual report pursuant to Section
13(a) or Section 15(d) of the Exchange Act (and, where applicable, each filing of an employee benefit plan&rsquo;s annual report
pursuant to Section 15(d) of the Exchange Act) that is incorporated by reference in the Registration Statement shall be deemed
to be a new registration statement relating to the securities offered herein, and the offering of such securities at that time
shall be deemed to be the initial <I>bona fide</I> offering thereof.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Insofar as indemnification for liabilities arising under the
Securities Act may be permitted to directors, officers and controlling persons of the registrant pursuant to the foregoing provisions,
or otherwise, the registrant has been advised that in the opinion of the Commission such indemnification is against public policy
as expressed in the Securities Act and is, therefore, unenforceable. In the event that a claim for indemnification against such
liabilities (other than the payment by the registrant of expenses incurred or paid by a director, officer or controlling person
of the registrant in the successful defense of any action, suit or proceeding) is asserted by such director, officer or controlling
person in connection with the securities being registered, the registrant will, unless in the opinion of its counsel the matter
has been settled by controlling precedent, submit to a court of appropriate jurisdiction the question whether such indemnification
by it is against public policy as expressed in the Securities Act and will be governed by the final adjudication of such issue.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>




<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">SIGNATURES</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Pursuant to the requirements of the Securities Act of 1933,
as amended, the Registrant certifies that it has reasonable grounds to believe that it meets all of the requirements for filing
on Form S-8 and has duly caused this Registration Statement to be signed on its behalf by the undersigned, thereunto duly authorized,
in the City of Tel Aviv, State of Israel, on June 8, 2018.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%">
<TR STYLE="vertical-align: bottom">
    <TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD COLSPAN="3" STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 10pt">PROTALIX BIOTHERAPEUTICS, INC.</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="width: 50%"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 3%"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="width: 1%"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; width: 46%"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD NOWRAP STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">By:</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 10pt">/s/ Moshe Manor</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 10pt">Moshe Manor</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">President and Chief Executive Officer</TD></TR>
</TABLE>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><A NAME="poa"></A>POWER OF ATTORNEY</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">KNOW ALL PERSONS BY THESE PRESENTS, that each person whose signature
appears below constitutes and appoints Moshe Manor and Yossi Maimon, and each of them, as his true and lawful attorneys-in-fact
and agents, with full power of substitution and resubstitution, for the undersigned and in his or her name, place and stead, in
any and all capacities, to sign any or all amendments (including post-effective amendments) to the Registration Statement and to
file the same, with all exhibits thereto, and all documents in connection therewith, including any subsequent registration statement
for the same offering that may be filed under Rule 462(b), with the Securities and Exchange Commission, granting unto said attorneys-in-fact
and agents, and each of them, full power and authority to do and perform each and every act and thing requisite and necessary to
be done in connection therewith, as fully to all intents and purposes as he or she might or could do in person, hereby ratifying
and confirming all that said attorneys-in-fact and agents, or any of them or their or his substitute or substitutes, may lawfully
do or cause to be done by virtue hereof.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Pursuant to the requirements of the Securities Act, this Registration
Statement has been signed by the following persons in the capacities and on the dates indicated.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="width: 32%; font-size: 10pt; text-align: left; padding-bottom: 1pt; border-bottom: Black 1pt solid">/s/ Moshe Manor</TD><TD STYLE="width: 2%; font-size: 10pt; padding-bottom: 1pt">&nbsp;</TD>
    <TD NOWRAP STYLE="width: 32%; font-size: 10pt; text-align: center; padding-bottom: 1pt">President, Chief Executive Officer</TD><TD STYLE="width: 2%; font-size: 10pt; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="width: 32%; font-size: 10pt; padding-bottom: 1pt; text-align: center">June 8, 2018</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font-size: 10pt; text-align: left">Moshe Manor</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD NOWRAP STYLE="font-size: 10pt; text-align: center">(Principal Executive Officer) and Director</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font-size: 10pt">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD NOWRAP STYLE="font-size: 10pt">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font-size: 10pt; text-align: left; padding-bottom: 1pt; border-bottom: Black 1pt solid">/s/ Yossi Maimon</TD><TD STYLE="font-size: 10pt; padding-bottom: 1pt">&nbsp;</TD>
    <TD NOWRAP STYLE="font-size: 10pt; text-align: center; padding-bottom: 1pt">Chief Financial Officer,</TD><TD STYLE="font-size: 10pt; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; padding-bottom: 1pt; text-align: center">June 8, 2018</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font-size: 10pt; text-align: left">Yossi Maimon</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD NOWRAP STYLE="font-size: 10pt; text-align: center">Treasurer and Secretary</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font-size: 10pt">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD NOWRAP STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center">(Principal Financial and Accounting <BR>Officer)</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font-size: 10pt">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD NOWRAP STYLE="font-size: 10pt">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font-size: 10pt; text-align: left; padding-bottom: 1pt; border-bottom: Black 1pt solid">/s/ Shlomo Yanai</TD><TD STYLE="font-size: 10pt; padding-bottom: 1pt">&nbsp;</TD>
    <TD NOWRAP STYLE="font-size: 10pt; text-align: center; padding-bottom: 1pt">Chairman of the Board</TD><TD STYLE="font-size: 10pt; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; padding-bottom: 1pt; text-align: center">June 8, 2018</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font-size: 10pt; text-align: left">Shlomo Yanai</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD NOWRAP STYLE="font-size: 10pt">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font-size: 10pt">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD NOWRAP STYLE="font-size: 10pt">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font-size: 10pt; text-align: left; padding-bottom: 1pt; border-bottom: Black 1pt solid">/s/ Amos Bar Shalev</TD><TD STYLE="font-size: 10pt; padding-bottom: 1pt">&nbsp;</TD>
    <TD NOWRAP STYLE="font-size: 10pt; text-align: center; padding-bottom: 1pt">Director</TD><TD STYLE="font-size: 10pt; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; padding-bottom: 1pt; text-align: center">June 8, 2018</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font-size: 10pt; text-align: left">Amos Bar Shalev</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD NOWRAP STYLE="font-size: 10pt">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font-size: 10pt">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD NOWRAP STYLE="font-size: 10pt">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font-size: 10pt; text-align: left; padding-bottom: 1pt; border-bottom: Black 1pt solid">/s/ Zeev Bronfeld</TD><TD STYLE="font-size: 10pt; padding-bottom: 1pt">&nbsp;</TD>
    <TD NOWRAP STYLE="font-size: 10pt; text-align: center; padding-bottom: 1pt">Director</TD><TD STYLE="font-size: 10pt; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; padding-bottom: 1pt; text-align: center">June 8, 2018</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font-size: 10pt; text-align: left">Zeev Bronfeld</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD NOWRAP STYLE="font-size: 10pt">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font-size: 10pt">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD NOWRAP STYLE="font-size: 10pt">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font-size: 10pt; text-align: left; padding-bottom: 1pt; border-bottom: Black 1pt solid">/s/ Aharon Schwartz</TD><TD STYLE="font-size: 10pt; padding-bottom: 1pt">&nbsp;</TD>
    <TD NOWRAP STYLE="font-size: 10pt; text-align: center; padding-bottom: 1pt">Director</TD><TD STYLE="font-size: 10pt; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; padding-bottom: 1pt; text-align: center">June 8, 2018</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font-size: 10pt; text-align: left">Aharon Schwartz, Ph.D.</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD NOWRAP STYLE="font-size: 10pt">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: center">&nbsp;</TD></TR>
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<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">INDEX TO EXHIBITS</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom">
    <TD NOWRAP STYLE="font: bold 10pt Times New Roman, Times, Serif; border-bottom: Black 1pt solid; text-align: left; vertical-align: top">Exhibit<BR> Number</TD><TD NOWRAP STYLE="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left; vertical-align: top">&nbsp;</TD>
    <TD NOWRAP STYLE="font: bold 10pt Times New Roman, Times, Serif; border-bottom: Black 1pt solid; text-align: left; vertical-align: bottom">Exhibit Description</TD><TD NOWRAP STYLE="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left; vertical-align: top">&nbsp;</TD>
    <TD NOWRAP STYLE="font: bold 10pt Times New Roman, Times, Serif; border-bottom: Black 1pt solid; text-align: left; vertical-align: bottom">Method of Filing</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; font: bold 10pt Times New Roman, Times, Serif; text-align: left; vertical-align: top">&nbsp;</TD><TD STYLE="white-space: nowrap; font: bold 10pt Times New Roman, Times, Serif; text-align: left; vertical-align: top">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; font: bold 10pt Times New Roman, Times, Serif; text-align: left; vertical-align: bottom">&nbsp;</TD><TD STYLE="white-space: nowrap; font: bold 10pt Times New Roman, Times, Serif; text-align: left; vertical-align: top">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; font: bold 10pt Times New Roman, Times, Serif; text-align: left; vertical-align: bottom">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="width: 10%; font-size: 10pt; text-align: left; vertical-align: top"><A HREF="http://www.sec.gov/Archives/edgar/data/1006281/000157104918000157/tv486986-def14a.htm" STYLE="-sec-extract: exhibit">4.1</A></TD><TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif; text-align: left; vertical-align: top">&nbsp;</TD>
    <TD STYLE="width: 44%; font: 10pt Times New Roman, Times, Serif; text-align: left; vertical-align: top"><A HREF="http://www.sec.gov/Archives/edgar/data/1006281/000157104918000157/tv486986-def14a.htm" STYLE="-sec-extract: exhibit">Protalix BioTherapeutics, Inc. Amended &amp; Restated 2006 Stock Incentive Plan </A></TD><TD STYLE="width: 1%; font-size: 10pt; text-align: left; vertical-align: top">&nbsp;</TD>
    <TD STYLE="width: 44%; font-size: 10pt; text-align: left; vertical-align: top"><A HREF="http://www.sec.gov/Archives/edgar/data/1006281/000157104918000157/tv486986-def14a.htm" STYLE="-sec-extract: exhibit">(Incorporated herein by reference to Appendix B to our Definitive Proxy Statement on Schedule 14A (File No. 001-33357), filed with the Commission on March 6, 2018)</A></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font-size: 10pt; text-align: left; vertical-align: top">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; vertical-align: top">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; vertical-align: top">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left; vertical-align: top">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left; vertical-align: top">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font-size: 10pt; text-align: left; vertical-align: top"><A HREF="tv496075_ex5-1.htm" STYLE="-sec-extract: exhibit">5.1</A></TD><TD STYLE="font-size: 10pt; text-align: left; vertical-align: top">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left; vertical-align: top"><A HREF="tv496075_ex5-1.htm" STYLE="-sec-extract: exhibit">Opinion of Mayer Brown LLP, New York, New York as to the legality of the securities being registered</A></TD><TD STYLE="font-size: 10pt; text-align: left; vertical-align: top">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left; vertical-align: top"><A HREF="tv496075_ex5-1.htm" STYLE="-sec-extract: exhibit">Filed herewith</A></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font-size: 10pt; text-align: left; vertical-align: top">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left; vertical-align: top">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left; vertical-align: top">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left; vertical-align: top">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left; vertical-align: top">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font-size: 10pt; text-align: left; vertical-align: top"><A HREF="tv496075_ex5-1.htm" STYLE="-sec-extract: exhibit">23.1</A></TD><TD STYLE="font-size: 10pt; text-align: left; vertical-align: top">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left; vertical-align: top"><A HREF="tv496075_ex5-1.htm" STYLE="-sec-extract: exhibit">Consent of Mayer Brown LLP, New York, New York (included in Exhibit 5.1)</A></TD><TD STYLE="font-size: 10pt; text-align: left; vertical-align: top">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left; vertical-align: top"><A HREF="tv496075_ex5-1.htm" STYLE="-sec-extract: exhibit">Filed herewith</A></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font-size: 10pt; text-align: left; vertical-align: top">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left; vertical-align: top">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left; vertical-align: top">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left; vertical-align: top">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left; vertical-align: top">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font-size: 10pt; text-align: left; vertical-align: top"><A HREF="tv496075_ex23-2.htm" STYLE="-sec-extract: exhibit">23.2</A></TD><TD STYLE="font-size: 10pt; text-align: left; vertical-align: top">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left; vertical-align: top"><A HREF="tv496075_ex23-2.htm" STYLE="-sec-extract: exhibit">Consent of Kesselman &amp; Kesselman, Certified Public Accountant (Isr.), a member of PricewaterhouseCoopers International Limited, independent registered public accounting firm for the Registrant</A></TD><TD STYLE="font-size: 10pt; text-align: left; vertical-align: top">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left; vertical-align: top"><A HREF="tv496075_ex23-2.htm" STYLE="-sec-extract: exhibit">Filed herewith</A></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font-size: 10pt; text-align: left; vertical-align: top">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left; vertical-align: top">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left; vertical-align: top">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left; vertical-align: top">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left; vertical-align: top">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font-size: 10pt; text-align: left; vertical-align: top"><A HREF="#poa">24.1</A></TD><TD STYLE="font-size: 10pt; text-align: left; vertical-align: top">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left; vertical-align: top"><A HREF="#poa">Power of Attorney (included on signature page)</A></TD><TD STYLE="font-size: 10pt; text-align: left; vertical-align: top">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left; vertical-align: top"><A HREF="#poa">Filed herewith</A></TD></TR>
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<DOCUMENT>
<TYPE>EX-5.1
<SEQUENCE>2
<FILENAME>tv496075_ex5-1.htm
<DESCRIPTION>EXHIBIT 5.1
<TEXT>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><B>Exhibit 5.1</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><IMG SRC="image_002.jpg" ALT="" STYLE="height: 14px; width: 211px"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 5.75pt; text-indent: 272.5pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right; text-indent: 0.5in"><FONT STYLE="font-size: 8pt">Mayer
Brown LLP</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><FONT STYLE="font-size: 8pt">1221 Avenue
of the Americas<BR>
New York, New York 10020-1001</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><FONT STYLE="font-size: 8pt">Main Tel +1
212 506 2500<BR>
Main Fax +1 212 262 1910</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><FONT STYLE="font-size: 8pt">www.mayerbrown.com</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><B>Anna T. Pinedo</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><FONT STYLE="font-size: 8pt">Direct Tel
+1 212 506 2275</FONT></P>

<P STYLE="margin: 0pt 0; text-align: right"><FONT STYLE="font-size: 8pt">bhirshberg@mayerbrown.com</FONT></P>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">June 8, 2018</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Protalix BioTherapeutics, Inc.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">2 Snunit Street</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Science Park</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">POB 455&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Carmiel, Israel 20100</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Re: Protalix BioTherapeutics, Inc. &ndash; Registration Statement
on Form S-8</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><BR STYLE="clear: both">
Ladies and Gentlemen:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">We have acted as counsel to Protalix BioTherapeutics, Inc.,
a Delaware corporation (the &ldquo;Company&rdquo;), in connection with the preparation and filing with the Securities and Exchange
Commission (the &ldquo;Commission&rdquo;) of a Registration Statement on Form S-8 (the &ldquo;Registration Statement&rdquo;), relating
to the registration by the Company under the Securities Act of 1933, as amended (the &ldquo;Securities Act&rdquo;), of up to 23,841,655
shares of its common stock, $.001 par value per share (the &ldquo;Common Stock&rdquo;), which will be issuable under the Protalix
BioTherapeutics, Inc. 2006 Stock Incentive Plan, as amended on May 13, 2018 (the &ldquo;Plan&rdquo;). This opinion is being rendered
solely in connection with the registration of the offering and sale of the shares of common stock under the Plan (the &ldquo;Plan
Shares&rdquo;) under the registration requirements of the Securities Act.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">As your counsel in connection with the Registration Statement,
we have examined the proceedings taken by you in connection with the adoption of the Plan and the authorization of the issuance
of the Plan Shares, and such documents as we have deemed necessary to render this opinion. For the purpose of the opinion rendered
below, we have assumed that in connection with the issuance of the Plan Shares, the Company will receive consideration in an amount
not less than the aggregate par value of the Plan Shares covered by each such issuance. In our examination, we have assumed the
genuineness of all signatures, the legal capacity of natural persons, the authenticity of all documents submitted to us as originals,
the conformity to original documents of all documents submitted to us as certified or photostatic copies and the authenticity of
the originals of such copies.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Based upon and subject to the foregoing, it is our opinion that
the Plan Shares, when issued and outstanding pursuant to the terms of the Plan, will be validly issued, fully paid and nonassessable.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Please note that we are opining only as to the matters expressly
set forth herein and that no opinion should be inferred as to any other matter. This opinion is based upon currently existing statutes,
rules, regulations and judicial decisions, and we disclaim any obligation to advise you of any change in any of these sources of
law or subsequent legal or factual developments which might affect any matters or opinions set forth herein.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">We hereby consent to the use of our name under the heading &ldquo;Legal
Matters&rdquo; in the Registration Statement to be filed by the Company with the Commission. We further consent to your filing
a copy of this opinion as Exhibit 5.1 to the Registration Statement. In giving such permission, we do not admit hereby that we
come within the category of persons whose consent is required under Section 7 of the Securities Act, or the rules and regulations
of the Commission thereunder. We disclaim any undertaking to advise you of any subsequent changes of the facts stated or assumed
herein or any subsequent changes in applicable law.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Very truly yours,</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">/s/ Mayer Brown LLP</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<TYPE>EX-23.2
<SEQUENCE>3
<FILENAME>tv496075_ex23-2.htm
<DESCRIPTION>EXHIBIT 23.2
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><B>Exhibit 23.2</B></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: left"><IMG SRC="image_001.jpg" ALT=""></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>CONSENT
OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM</B></FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0pt; text-align: left">We hereby consent to the incorporation by reference
in this Registration Statement on Form S-8 of Protalix Biotherapeutics, Inc. of our report dated March 6, 2018 relating to the
financial statements and the effectiveness of internal control over financial reporting, which appears in Protalix BioTherapeutics,
Inc.&rsquo;s Annual Report on Form 10-K for the year ended December 31, 2017.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">&nbsp;&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 50%">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Tel-Aviv, Israel</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">June 8, 2018</P></TD>
    <TD STYLE="width: 50%">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">/S/ Kesselman &amp; Kesselman</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Kesselman &amp; Kesselman</P></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">Certified Public Accountants (Isr.)</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">A member firm of PricewaterhouseCoopers International Limited</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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