<SEC-DOCUMENT>0001104659-20-070904.txt : 20200608
<SEC-HEADER>0001104659-20-070904.hdr.sgml : 20200608
<ACCEPTANCE-DATETIME>20200608170401
ACCESSION NUMBER:		0001104659-20-070904
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		5
CONFORMED PERIOD OF REPORT:	20200607
ITEM INFORMATION:		Entry into a Material Definitive Agreement
ITEM INFORMATION:		Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers: Compensatory Arrangements of Certain Officers
ITEM INFORMATION:		Submission of Matters to a Vote of Security Holders
ITEM INFORMATION:		Financial Statements and Exhibits
FILED AS OF DATE:		20200608
DATE AS OF CHANGE:		20200608

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:		8-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-33357
		FILM NUMBER:		20949759

	BUSINESS ADDRESS:	
		STREET 1:		2 SNUNIT ST
		STREET 2:		SCIENCE PARK, POB 455
		CITY:			CARMIEL
		STATE:			L3
		ZIP:			2161401
		BUSINESS PHONE:		972-4-988-9488

	MAIL ADDRESS:	
		STREET 1:		2 SNUNIT ST
		STREET 2:		SCIENCE PARK, POB 455
		CITY:			CARMIEL
		STATE:			L3
		ZIP:			2161401

	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>8-K
<SEQUENCE>1
<FILENAME>tm2022015d1_8k.htm
<DESCRIPTION>FORM 8-K
<TEXT>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"></P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Pursuant to Section 13 or 15(d) of</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>the Securities Exchange Act of 1934</B></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>Date of Report (Date of Earliest Event
Reported): June 8, 2020 (June 7, 2020)</B></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; text-align: center"><FONT STYLE="font-size: 14pt"><B>Protalix
BioTherapeutics, Inc.</B></FONT></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">&nbsp;</P>

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<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR>
    <TD STYLE="vertical-align: top; text-align: center"><B>Delaware</B></TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="vertical-align: top; text-align: center"><B>001-33357</B></TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: center"><B>65-0643773</B></TD></TR>
<TR>
    <TD STYLE="vertical-align: top">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>(State or other jurisdiction</B></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>of incorporation)</B></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P></TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="vertical-align: top; text-align: center"><B>(Commission File Number)</B></TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: top">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>(IRS Employer</B></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Identification No.)</B></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P></TD></TR>
<TR>
    <TD COLSPAN="3">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD COLSPAN="3">&nbsp;</TD></TR>
<TR>
    <TD COLSPAN="3" STYLE="vertical-align: top; text-align: center"><B>2 Snunit Street</B></TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="vertical-align: top; text-align: center"><B>2161401</B></TD></TR>
<TR>
    <TD COLSPAN="3" STYLE="vertical-align: top; text-align: center"><B>Science Park, POB 455</B></TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="vertical-align: top; text-align: center">&nbsp;</TD></TR>
<TR>
    <TD COLSPAN="3" STYLE="vertical-align: top; text-align: center"><B>Carmiel, Israel</B></TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="vertical-align: top; text-align: center">&nbsp;</TD></TR>
<TR>
    <TD COLSPAN="3" STYLE="vertical-align: top; text-align: center"><B>(Address of principal executive offices)</B></TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="vertical-align: top; text-align: center"><B>(Zip Code)</B></TD></TR>
<TR>
    <TD STYLE="width: 32%">&nbsp;</TD>
    <TD STYLE="width: 2%">&nbsp;</TD>
    <TD STYLE="width: 15%">&nbsp;</TD>
    <TD STYLE="width: 2%">&nbsp;</TD>
    <TD STYLE="width: 15%">&nbsp;</TD>
    <TD STYLE="width: 2%">&nbsp;</TD>
    <TD STYLE="width: 32%">&nbsp;</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; text-align: center"><B>Registrant&rsquo;s telephone number,
including area code +972-4-988-9488</B></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; text-align: center"><B>(Former name or former address, if changed
since last report.)</B></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">Check the appropriate box below if the Form 8-K filing is intended
to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (<I>see</I> General Instruction
A.2. below):</P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.25in; text-align: left"><FONT STYLE="font-family: Wingdings">&#168;</FONT></TD><TD STYLE="text-align: justify">Written communication pursuant to Rule 425 under the
Securities Act (17 CFR 230.425)</TD>
</TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.25in; text-align: left"><FONT STYLE="font-family: Wingdings">&#168;</FONT></TD><TD STYLE="text-align: justify">Soliciting material pursuant to Rule 14a-12 under the
Exchange Act (17 CFR 240.14a-12)</TD>
</TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.25in; text-align: left"><FONT STYLE="font-family: Wingdings">&#168;</FONT></TD><TD STYLE="text-align: justify">Pre-commencement communications pursuant to Rule 14d-2(b)
under the Exchange Act (17 CFR 240.14d-2(b))</TD>
</TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.25in; text-align: left"><FONT STYLE="font-family: Wingdings">&#168;</FONT></TD><TD STYLE="text-align: justify">Pre-commencement communications pursuant to Rule 13e-4(c)
under the Exchange Act (17 CFR 240.13e-4(c))</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; text-align: center"><B>Securities registered pursuant to Section
12(b) of the Act:</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: bottom">
    <TD STYLE="width: 39%; border: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">Title of each class</TD>
    <TD STYLE="width: 18%; border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">Trading Symbol(s)</TD>
    <TD STYLE="width: 43%; border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">Name of each exchange on which registered</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">Common stock, $0.001 par value</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">PLX</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">NYSE American</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0.3in 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0.3in 0pt 0">Indicate by check mark whether the registrant is an
emerging growth company as defined in Rule 405 of the Securities Act of 1933 (17 CFR &sect;230.405) or Rule 12b-2 of the Securities
Exchange Act of 1934 (17 CFR &sect;240.12b-2).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0.3in 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: right">Emerging growth
company <FONT STYLE="font-family: Wingdings">&#168;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 4in; text-align: center; text-indent: 0.5in">&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 13(a) of the Exchange Act. <FONT STYLE="font-family: Wingdings">&#168;</FONT></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>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&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: 11%"><B>Item 1.01</B></TD>
    <TD STYLE="width: 89%"><B>Entry into a Material Definitive Agreement</B></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">The disclosure set forth in Item 5.02 is incorporated herein
by reference.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&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: 11%"><B>Item 5.02</B></TD>
    <TD STYLE="width: 89%"><B>Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers</B></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">On June&nbsp;8, 2020, Protalix BioTherapeutics, Inc. (the &ldquo;Company&rdquo;)
announced the appointment of Yael Hayon, Ph.D. to serve as the Company&rsquo;s new Vice President, Research and Development, effective
July&nbsp;5, 2020. On June&nbsp;2, 2020, Yoseph Shaaltiel, Ph.D. retired from his position as the Company&rsquo;s Executive Vice
President, Research and Development, effective June&nbsp;15, 2020.</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">Dr. Hayon, 37, brings to Protalix over a decade of experience
in pharmaceutical research in development, both in the scientific operations and the administrative functions. She most recently
served as Vice President of Clinical Affairs of Syqe Medical Ltd., Tel-Aviv, where she, among other things, established the clinical
and medical global strategy, and was responsible for providing strategic input on the regulatory development plan. Prior to her
role at Syqe Medical, Dr. Hayon served as the Head of R&amp;D Israeli Site of LogicBio Therapeutics, Inc., Cambridge, Massachusetts,
where she managed LogicBio&rsquo;s Israeli-based Research and Development facility and was involved in strategic decision-making.
From 2014 through 2016 she served as the R&amp;D Manager, Stem Cell Medicine Ltd., Jerusalem, Israel. Dr. Hayon holds a Ph.D. in
Neurobiology/Hematology, and an MS.c. in Neurobiology, both from the Hebrew University Faculty of Medicine, Jerusalem, 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">In connection with her appointment, the Company and Dr. Hayon
have entered into a written employment agreement, dated June&nbsp;7, 2020 (the &ldquo;Hayon Employment Agreement&rdquo;). Pursuant
to the Hayon Employment Agreement, Dr. Hayon will receive a monthly base salary of 56,000 New Israeli Shekels (NIS) (approximately
$16,210), and Dr. Hayon is entitled to discretionary bonuses from time to time at the sole discretion of the Company&rsquo;s Board
of Directors.</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 Board also granted to Dr. Hayon, as of the effective date
of her employment, options to purchase 129,771 shares of the Company&rsquo;s common stock at an exercise price equal to the closing
sales price of the Company&rsquo;s common stock on the NYSE American for the last trading day immediately preceding the effective
date of the grant. The options shall vest over four years on a quarterly basis, subject to certain conditions. Vesting of the options
will be accelerated in full upon a Corporate Transaction or a Change in Control, as those terms are defined in the Company&rsquo;s
2006 Amended and Restated Stock Incentive Plan, as amended (the &ldquo;Plan&rdquo;).</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 Hayon Employment Agreement is terminable by the Company
or Dr. Hayon on 30 days&rsquo; written notice for any reason during its term. The Company may terminate the Hayon Employment Agreement
for cause without notice. Dr. Hayon is entitled to be insured by the Company under a Manager&rsquo;s Policy or Pension Fund, in
lieu of severance, as well as company contributions towards vocational studies, annual recreational allowances, a Company car and
a Company laptop, and to contributions to cover cellular phone costs. Dr. Hayon is entitled to 20 working days of vacation, which
is subject to annual increases. She is also entitled to indemnification and to be an insured in the Company&rsquo;s D&amp;O insurance
policy, as are the Company&rsquo;s other executive officers and directors.</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 foregoing description of the Hayon Employment Agreement
is a summary and is qualified in its entirety by reference to the Employment Agreement attached hereto as Exhibit 10.1
which is incorporated by reference herein. A copy of a press release announcing the appointment is filed as Exhibit 99.1 to this
Current Report.</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">On June&nbsp;7, 2020, the Company&rsquo;s Compensation Committee
approved the promotion of Einat Brill Almon, Ph.D. to Sr. Vice President and Chief Development Officer. Dr. Almon first joined
Protalix Ltd. in December 2004, originally as a Senior Director and later as Vice President, and became the Company&rsquo;s Senior
Vice President, Product Development in 2006. She has many years of experience in the management of life science projects and companies,
including biotechnology and agrobiotech, with direct experience in clinical, device and scientific software development, as well
as a strong background and work experience in intellectual property.</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">In connection with her promotion, the Company and Dr. Almon
have entered into a written amended and restated employment agreement, dated June&nbsp;7, 2020 (the &ldquo;Almon Employment Agreement&rdquo;).
Pursuant to the Almon Employment Agreement, Dr. Almon&rsquo;s monthly base salary was increased to NIS 80,000 (approximately $23,000),
and she is entitled to discretionary bonuses from time to time based on significant achievements, at the Board&rsquo;s discretion.
In addition, Dr. Almon was granted a $100,000 cash bonus earned as compensation for milestones achieved during calendar year 2019
and a $100,000 cash bonus in connection with the submission of the biologics license application (BLA) to the U.S. Food and Drug
Administration for PRX-102, and she is entitled to additional cash bonuses upon the achievement of certain milestones. She is also
entitled to a one-time bonus of $400,000 upon the occurrence of certain change of control transactions. The monthly salary is subject
to cost of living adjustments from time to time as may be required by 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"></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">The Board also granted to Dr. Almon options under the Plan
to purchase 196,995 shares of the Company&rsquo;s common stock at an exercise price of $3.59 per share, the closing sales
price of the Company&rsquo;s common stock on the NYSE American for the last trading day immediately preceding the effective
date of the grant. The options shall vest over four years on a quarterly basis, subject to certain conditions. Vesting of the
options will be accelerated in full upon a Corporate Transaction or a Change in Control, as those terms are defined in 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">The Almon Employment Agreement is terminable by the
Company on 180 days written notice, and by Dr. Almon on 90 days written notice, for any reason during its term. The Company
may terminate the Employment Agreement for cause without notice. Dr. Almon remains entitled to be insured by the Company
under a Manager&rsquo;s Policy or Pension Fund, in lieu of severance, as well as company contributions towards vocational
studies, annual recreational allowances, a Company car, a Company laptop and a Company cellular phone. She remains entitled
to 29 working days of vacation. She also remains entitled to indemnification and to be an insured in the Company&rsquo;s
D&amp;O insurance policy, as are the Company&rsquo;s other executive officers and directors.</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 foregoing description of the Almon Employment
Agreement is a summary and is qualified in its entirety by reference to the Amended and Restated Employment Agreement
attached hereto as Exhibit 10.2 which is incorporated by reference herein.</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 Company&rsquo;s 2020 Annual Meeting of Stockholders
(the &ldquo;Meeting&rdquo;) was held on June&nbsp;7, 2020. At the Meeting, as described in Item 5.07 below, the
Company&rsquo;s stockholders approved amendments to the Plan to increase the number of shares of common stock available under
the Plan from 2,384,165 shares to 5,725,171 shares, as described under Proposal 4 of the Company&rsquo;s definitive proxy
statement filed on Schedule 14A with the U.S. Securities and Exchange Commission on April&nbsp;15, 2020.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&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: 11%"><B>Item 5.07</B></TD>
    <TD STYLE="width: 89%"><B>Submission of Matters to a Vote of Security Holders</B></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">At the Meeting, the Company&rsquo;s stockholders: (1) elected
the seven persons recommended by the Company&rsquo;s Board of Directors to serve as directors of the Company; (2) approved, on
a non-binding, advisory basis, the compensation of the Company&rsquo;s named executive officers; (3) approved, on a non-binding
advisory basis, one year as the frequency that stockholders of the Company will have a non-binding, advisory vote on the compensation
of the Company&rsquo;s named executive officers; (4) approved amendments to the Plan to increase the number of shares of common
stock available under the plan from 2,384,165 shares to 5,725,171 shares; and (5) ratified the selection of appointment of Kesselman
 &amp; Kesselman, Certified Public Accountant (Isr.), a Member of PricewaterhouseCoopers International Limited, as the Company&rsquo;s
independent registered public accounting firm for the fiscal year ending December&nbsp;31, 2020.</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">Set forth below, with respect to each such proposal, are the
number of votes cast for or against or withheld, as applicable, the number of abstentions and the number of broker non-votes, and
the number of votes cast, on an advisory basis, for the frequency that stockholders of the Company will have a non-binding, advisory
vote on the compensation of the Company&rsquo;s named executive officers (every one, two or three years).</P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.5in; text-align: left">(1)</TD><TD STYLE="text-align: justify">Election of Directors</TD>
</TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 90%; margin-left: 0.5in">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font-size: 10pt; text-align: center">&nbsp;</TD><TD STYLE="font-size: 10pt; font-weight: bold">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: center">For</TD><TD STYLE="font-size: 10pt; font-weight: bold">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: center">Withheld</TD><TD STYLE="font-size: 10pt; font-weight: bold">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: center">Broker<BR> Non-Votes</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="width: 24%; font-size: 10pt; text-align: left">Zeev Bronfeld</TD><TD STYLE="width: 2%; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="width: 24%; font-size: 10pt; text-align: center">18,748,821</TD><TD STYLE="width: 2%; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="width: 23%; font-size: 10pt; text-align: center">288,356</TD><TD STYLE="width: 2%; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="width: 23%; font-size: 10pt; text-align: center">3,245,242</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font-size: 10pt; text-align: left">Dror Bashan</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: center">18,208,159</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: center">829,018</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: center">3,245,242</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 STYLE="font-size: 10pt; text-align: center">18,702,443</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: center">334,734</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: center">3,245,242</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font-size: 10pt; text-align: left">Pol F. Boudes, M.D.</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: center">18,868,529</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: center">168,648</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: center">3,245,242</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font-size: 10pt; text-align: left">David Granot</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: center">18,704,297</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: center">332,880</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: center">3,245,242</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font-size: 10pt; text-align: left">Gwen A. Melincoff</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: center">18,898,915</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: center">138,262</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: center">3,245,242</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 STYLE="font-size: 10pt; text-align: center">18,852,781</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: center">184,396</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: center">3,245,242</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>

<!-- Field: Page; Sequence: 3 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.5in; text-align: left">(2)</TD><TD STYLE="text-align: justify">Approval, on a non-binding, advisory basis, the compensation
of the Company&rsquo;s named executive officers</TD>
</TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 90%; margin-left: 0.5in">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: center">For</TD><TD STYLE="font-size: 10pt; font-weight: bold">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: center">Against</TD><TD STYLE="font-size: 10pt; font-weight: bold">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: center">Abstain</TD><TD STYLE="font-size: 10pt; font-weight: bold">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: center">Broker<BR> Non-Votes</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="width: 24%; font-size: 10pt; text-align: center">14,550,187</TD><TD STYLE="width: 2%; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="width: 24%; font-size: 10pt; text-align: center">4,306,979</TD><TD STYLE="width: 2%; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="width: 23%; font-size: 10pt; text-align: center">180,011</TD><TD STYLE="width: 2%; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="width: 23%; font-size: 10pt; text-align: center">3,245,242</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">(3)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Approval, on a
non-binding advisory basis, the frequency (every one, two or three years) that stockholders of the Company will have a non-binding,
advisory vote on the compensation of the Company&rsquo;s named executive officers</P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 90%; margin-left: 0.5in">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: center">One Year</TD><TD STYLE="font-size: 10pt; font-weight: bold">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: center">Two Years</TD><TD STYLE="font-size: 10pt; font-weight: bold">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: center">Three Years</TD><TD STYLE="font-size: 10pt; font-weight: bold">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: center">Abstain</TD><TD STYLE="font-size: 10pt; font-weight: bold">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: center">Broker<BR> Non-Votes</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="width: 19%; font-size: 10pt; text-align: center">18,391,807</TD><TD STYLE="width: 2%; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="width: 19%; font-size: 10pt; text-align: center">368,753</TD><TD STYLE="width: 2%; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="width: 18%; font-size: 10pt; text-align: center">124,374</TD><TD STYLE="width: 2%; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="width: 18%; font-size: 10pt; text-align: center">152,243</TD><TD STYLE="width: 2%; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="width: 18%; font-size: 10pt; text-align: center">3,245,242</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">(4)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Approval of amendments
to the Protalix BioTherapeutics, Inc. 2006 Amended and Restated Stock Incentive Plan, as amended, to increase the number of shares
of common stock available under the plan from 2,384,165 shares to 5,725,171 shares</P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 90%; margin-left: 0.5in">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: center">For</TD><TD STYLE="font-size: 10pt; font-weight: bold">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: center">Against</TD><TD STYLE="font-size: 10pt; font-weight: bold">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: center">Abstain</TD><TD STYLE="font-size: 10pt; font-weight: bold">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: center">Broker<BR> Non-Votes</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="width: 24%; font-size: 10pt; text-align: center">17,766,072</TD><TD STYLE="width: 2%; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="width: 24%; font-size: 10pt; text-align: center">1,179,099</TD><TD STYLE="width: 2%; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="width: 23%; font-size: 10pt; text-align: center">92,006</TD><TD STYLE="width: 2%; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="width: 23%; font-size: 10pt; text-align: center">3,245,242</TD></TR>
</TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.5in; text-align: left">(5)</TD><TD STYLE="text-align: justify">Ratification of the appointment of Kesselman &amp; Kesselman</TD>
</TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 90%; margin-left: 0.5in">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: center">For</TD><TD STYLE="text-align: center; font-size: 10pt; font-weight: bold">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: center">Against</TD><TD STYLE="text-align: center; font-size: 10pt; font-weight: bold">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: center">Abstain</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="width: 32%; font-size: 10pt; text-align: center">21,976,758</TD><TD STYLE="text-align: center; width: 2%; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="width: 32%; font-size: 10pt; text-align: center">249,242</TD><TD STYLE="text-align: center; width: 2%; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="width: 32%; font-size: 10pt; text-align: center">56,419</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">&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: 12%"><B>Item 9.01</B></TD>
    <TD STYLE="width: 88%"><B>Financial Statements and Exhibits</B></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD><B>(d)</B></TD>
    <TD><B>Exhibits</B></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD><A HREF="tm2022015d1_ex10-1.htm" STYLE="-sec-extract: exhibit">10.1</A></TD>
    <TD><A HREF="tm2022015d1_ex10-1.htm" STYLE="-sec-extract: exhibit">Employment Agreement with Yael Hayon, Ph.D., dated June&nbsp;7, 2020.</A></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><A HREF="tm2022015d1_ex10-2.htm" STYLE="-sec-extract: exhibit">10.2</A></TD>
    <TD><A HREF="tm2022015d1_ex10-2.htm" STYLE="-sec-extract: exhibit">Amended and Restated Employment Agreement with Einat Brill
    Almon, Ph.D., dated June&nbsp;7, 2020.</A></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><A HREF="tm2022015d1_ex99-1.htm" STYLE="-sec-extract: exhibit">99.1</A></TD>
    <TD><A HREF="tm2022015d1_ex99-1.htm" STYLE="-sec-extract: exhibit">Press release dated June&nbsp;8, 2020.</A></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

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

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    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></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-top: 0pt; margin-bottom: 0pt; text-align: center"><B>SIGNATURES</B></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 Exchange Act
of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.</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>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; background-color: white">
<TR>
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">Date: June&nbsp;8, 2020</FONT></TD>
    <TD COLSPAN="3" STYLE="text-align: justify"><FONT STYLE="font-size: 10pt"><B>PROTALIX BIOTHERAPEUTICS, INC.</B></FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR>
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD COLSPAN="3" STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR>
    <TD STYLE="padding-bottom: 1pt; text-align: justify"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-bottom: 1pt; vertical-align: top; text-align: left"><FONT STYLE="font-size: 10pt">By:</FONT></TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; text-align: left; vertical-align: top"><FONT STYLE="font-size: 10pt">&nbsp;/s/ Dror Bashan</FONT></TD>
    <TD STYLE="padding-bottom: 1pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR>
    <TD STYLE="text-align: justify; width: 50%"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: justify; width: 5%"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; width: 5%; vertical-align: top"><FONT STYLE="font-size: 10pt">Name: </FONT></TD>
    <TD STYLE="text-align: left; width: 25%; vertical-align: top"><FONT STYLE="font-size: 10pt">Dror Bashan</FONT></TD>
    <TD STYLE="width: 15%"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR>
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; vertical-align: top"><FONT STYLE="font-size: 10pt">Title:</FONT></TD>
    <TD STYLE="text-align: left; vertical-align: top"> <FONT STYLE="font-size: 10pt">President and Chief Executive Officer</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 3.5in; text-align: justify; text-indent: -3.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 3.5in; text-align: justify; text-indent: -3.5in"></P>

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</DOCUMENT>
<DOCUMENT>
<TYPE>EX-10.1
<SEQUENCE>2
<FILENAME>tm2022015d1_ex10-1.htm
<DESCRIPTION>EXHIBIT 10.1
<TEXT>
<HTML>
<HEAD>
     <TITLE></TITLE>
</HEAD>
<BODY STYLE="font: 10pt Times New Roman, Times, Serif">

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><B>Exhibit 10.1</B></P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">This EMPLOYMENT AGREEMENT (this &ldquo;<B>Agreement</B>&rdquo;)
is entered into as of June 7, 2020 (the &ldquo;<B>Effective Date</B>&rdquo;), by and between Protalix Ltd., a company organized
under the laws of the State of Israel (the &ldquo;<B>Company</B>&rdquo;) and Dr. Yael Hayon, an Israeli citizen residing in Tel
Aviv, Israel (the &ldquo;<B>Employee</B>&rdquo;) (each of the Company and Employee shall be referred to herein, as a &ldquo;<B>Party</B>&rdquo;
and collectively, the &ldquo;<B>Parties</B>&rdquo;).</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"></TD><TD STYLE="width: 70.9pt"><B>WHEREAS</B>,</TD><TD>the Company is a biopharmaceutical company focused on the development, production and commercialization of recombinant therapeutic
proteins produced by its proprietary ProCellEx<SUP>&reg;</SUP> plant cell-based protein expression system; and</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt">&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"></TD><TD STYLE="width: 1in"><B>WHEREAS</B>,</TD><TD>the Company desires to engage the Employee as an employee of the Company in the position of Vice President, Research &amp;
Development of the Company and of its parent company, Protalix BioTherapeutics, Inc. (the &ldquo;<B>Parent Company</B>&rdquo; and
the &ldquo;<B>Position</B>,&rdquo; respectively), and the Employee desires to serve the Company and the Parent Company as an employee
in such Position, on the terms and conditions hereinafter set forth;</TD></TR></TABLE>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>NOW, THEREFORE</B>, based on the representations contained
herein and in consideration of the mutual premises and covenants set forth herein, the Parties agree as follows:</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: 0.5in"><FONT STYLE="font-weight: normal">1.</FONT></TD><TD STYLE="text-align: justify"><U>Employment</U>.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt">&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"></TD><TD STYLE="width: 0.5in">1.1.</TD><TD STYLE="text-align: justify">Commencing as of July 5, 2020 (the &ldquo;<B>Commencement Date</B>&rdquo;), the Company shall engage
the Employee as an employee in the Position, reporting to the Chief Executive Officer of the Company (&ldquo;<B>CEO</B>&rdquo;).&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt">&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"></TD><TD STYLE="width: 0.5in">1.2.</TD><TD STYLE="text-align: justify">The Employee&rsquo;s duties and responsibilities shall be those duties and responsibilities customarily
performed by a Vice President, Research &amp; Development of a pharmaceutical company, as may be determined from time to time by
the CEO. These will include, inter alia, the following:</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt">&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: 0.5in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify">Drive an innovative and effective R&amp;D effort that delivers a pipeline of innovative products
and is responsive to market/customer demand and the Company&rsquo;s business model.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt">&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: 0.5in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify">Manage all R&amp;D projects including close monitoring of milestones, resources and budget/expenses.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt">&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: 0.5in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify">Lead, manage and develop the R&amp;D team.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt">&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: 0.5in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify">Collaborate, coordinate and support the Product Development and operational teams.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt">&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: 0.5in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify">Represent the R&amp;D group and its activities inside and outside the organization.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt">&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: 0.5in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify">Be a part of the Company&rsquo;s management team.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt">&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"></TD><TD STYLE="width: 0.5in">1.3.</TD><TD STYLE="text-align: justify">The Employee shall be employed on a full-time basis. The Employee shall devote her full and undivided
attention and full working time to the business and affairs of the Company and the fulfillment of her duties and responsibilities
under this Agreement. During the term of this Agreement, the Employee shall not be engaged in any other employment nor engage in
any other business activity or render any services, with or without compensation, for any other person or entity without the CEO&rsquo;s
prior written consent. The Employee shall notify the Company immediately of any event or circumstance which may hinder the performance
of her obligations hereunder or result in the Employee having a conflict of interest with her position as Vice President, Research
 &amp; Development.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt">&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"></TD><TD STYLE="width: 0.5in">1.4.</TD><TD STYLE="text-align: justify">The Employee acknowledges that the Company&rsquo;s facilities are located in Carmiel and that she
will be required to be present in such facilities not less than three days a week.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt">&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"></TD><TD STYLE="width: 0.5in">1.5.</TD><TD STYLE="text-align: justify">It is agreed between the Parties that the position that Employee holds within the Company is a
management position, which demands a special level of loyalty and accordingly the Work Hours and Rest Law&nbsp;(1951) shall not
apply to Employee&rsquo;s employment by the Company and this Agreement. The Employee further acknowledges and agrees that her duties
and responsibilities may entail irregular work hours and extensive traveling in Israel and abroad, for which she is adequately
rewarded by the compensation provided in this Agreement. The Parties confirm that this is a personal services contract and that
the relationship between the Parties shall not be subject to any general or special collective bargaining agreement or any custom
or practice of the Company in respect of any of its other employees or contractors.</TD></TR></TABLE>

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

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

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt">&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"></TD><TD STYLE="width: 0.5in">1.6.</TD><TD STYLE="text-align: justify">Without derogating from anything in this Agreement, the Employee further acknowledges that she
has been provided with a copy of the policies adopted by the Parent Company, including, but not limited to, the following policies:
 &ldquo;Code of Business Conduct and Ethics,&rdquo; &ldquo;Insider Trading Policy and Blackout Policy,&rdquo; &ldquo;Reporting Questionable
Accounting and Auditing Practices and Policy Prohibiting Retaliation Against Reporting Employees&rdquo; and &ldquo;Fair Disclosure
Policy&rdquo;. The Employee undertakes to comply and perform her duties and obligations hereunder in accordance with the provision
of such policies.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt">&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"></TD><TD STYLE="width: 0.5in">1.7.</TD><TD STYLE="text-align: justify">The Employee agrees that the execution and delivery by the Employee of this Agreement and the fulfillment
of the terms hereof: (i) do not conflict with any agreement or undertaking by which the Employee is bound, including an undertaking
to any former employer; and (ii) do not require the consent of any person or entity. The Employee further represents and warrants
to the Company that in the course of her employment hereunder, she will not make use of (i) any confidential or proprietary information
belonging to any third party, or (ii) any information to which the Employee is restricted from disclosing or using due to contractual
undertakings (such as Non Disclosure Agreements) or by law.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt">&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: 0.5in"><FONT STYLE="font-weight: normal">2.</FONT></TD><TD STYLE="text-align: justify"><U>Salary and Employee Benefits.</U></TD></TR></TABLE>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">In full consideration
of Employee&rsquo;s employment hereunder, commencing as of the Commencement Date (unless otherwise expressly provided in this Section
2), the Employee shall be entitled to the payments and benefits set forth in this Section 2, it being understood and agreed that
any Salary-based benefits shall be calculated exclusively on the basis of the base Salary (without consideration to any other benefit).
All and any payments and benefits herein have received the required approval by the Company, including but not limited to the approval
by the compensation committee of the Parent Company.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">&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"></TD><TD STYLE="width: 0.5in">2.1.</TD><TD STYLE="text-align: justify"><U>Salary</U>. The Company shall pay the Employee a gross salary of NIS 56,000 per month (the &ldquo;<B>Salary</B>&rdquo;).
The salary includes payment of NIS 11,200 for global hours. The Salary shall be payable monthly in arrears, and shall be paid to
the Employee not later than the 10th of each month in accordance with the Company&rsquo;s general compensation policy. Social benefits
and future salary adjustments will be calculated based on the aggregate salary. The Salary payable hereunder will be reviewed from
time to time by the compensation committee of the Parent Company during the term of this Agreement; provided, that any reductions
in salary shall require the mutual consent of the Company and the Employee.</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 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: 0.5in; text-align: left">2.2.</TD><TD STYLE="text-align: justify"><U>Bonus</U>. From time to time during the Term, the
Employee may be eligible to one or more bonuses, which may be paid in either cash or equity, or a combination hereof, at the sole
discretion of the Board of Directors of the Company and the Parent Company after consultation with the CEO; <U>provided</U>, <U>however</U>,
that the Company shall be under no obligation whatsoever to pay a discretionary bonus at any time during the Term. Not later than
December 31, 2020, a bonus plan will be established based on agreed-upon milestones and objectives, subject to the approval of
the Board of Directors of the Parent Company.</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.5in">&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"></TD><TD STYLE="width: 0.5in">2.3.</TD><TD STYLE="text-align: justify"><U>Options</U>. The Employee shall be entitled, from time to time, to options to purchase shares
of the common stock of the Parent Company or similar equity incentives based on the directives and sole discretion of the Board
of Directors of the Company and the Parent Company, under the Parent Company&rsquo;s Amended and Restated 2006 Stock Incentive
Plan, as amended (the &ldquo;<B>Plan</B>&rdquo;); <U>provided</U>, that, subject to the approval of the Board of Directors of the
Parent Company, the Employee shall be entitled to a grant of equity incentives equal to approximately 0.4% of the outstanding shares
of the Parent Company&rsquo;s common stock as of the Effective Date.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt">&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"></TD><TD STYLE="width: 0.5in">2.4.</TD><TD STYLE="text-align: justify"><U>Indemnification; D&amp;O Insurance</U>. The Employee shall be entitled to the same indemnification
terms and conditions granted to all other executive officers and directors of the Company and the Parent Company and accordingly,
each of the Company and the Parent Company and Employee shall, on or prior to the Commencement Date, enter into an indemnification
and release agreement in the form granted to all other executive officers and directors of the Company. In addition, the Company
shall maintain, and shall ensure that the Parent Company maintains, Directors&rsquo; and Officers&rsquo; insurance policy or policies,
providing coverage that is no less favorable for Employee than the coverage then being provided to any other present or former
executive officer or director of the Company and the Parent Company.</TD></TR></TABLE>

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

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

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt">&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"></TD><TD STYLE="width: 0.5in">2.5.</TD><TD STYLE="text-align: justify"><U>Managers Insurance Policy (&ldquo;Bituach Menahalim&rdquo;) and/or Pension Fund (&ldquo;Keren
Pensya&rdquo;)</U>. According to the Employee&rsquo;s choice, the Company shall effect a Manager&rsquo;s Insurance Policy or Pension
Fund or a combination thereof, (the &ldquo;<B>Policy</B>&rdquo;) in the name of the Employee, and shall pay a sum of 8.33% of the
Salary for severance pay. The Company shall deduct 6% from the Salary to be paid as benefits (Tagmulim) on behalf of the Employee
towards such Policy. The Company&rsquo;s contribution for the Policy shall be 6.5% of the Salary as employer&rsquo;s share for
benefits (Tagmulim).</TD></TR></TABLE>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0in">In the event
that the Employee shall elect to be insured in a Manager&rsquo;s Insurance Policy or a provident fund which is not a Pension Fund
- the Company&rsquo;s contributions for benefits (Tagmulim) shall include payment for disability insurance in an amount which will
ensure 75% of the Salary, <U>provided</U>, <U>however</U>, that in any event the contributions of the Company for benefits shall
be equal to at least 5% of the Salary, and the total cost of the Company for disability insurance and benefits shall not exceed
7.5% of the Salary.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0in">The Parties
hereby declare and agree that the pension arrangement in accordance with this clause constitutes a &ldquo;beneficial arrangement&rdquo;
for the purpose of the Extension Order (Combined Version) for Mandatory Pension under the Collective Agreements Law, 5717-1957
(the &ldquo;<B>Pension Extension Order</B>&rdquo;), and the Company shall not be under any obligation to provide any pension arrangement
as provided in the Pension Extension Order other than as provided in this Section.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0in">Without derogating
from the generality of the aforesaid, all payments made by the Company to the Policy shall be in lieu of severance pay due to the
Employee or her heirs from the Company, and the Company shall not have any additional or other obligations to pay the Employee
severance payments, and the Employee hereby consents to this arrangement in accordance with Section 14 of the Severance Pay Law
5723-1963 and the <I>&ldquo;General Approval Regarding Payments by Employers to a Pension Fund and Insurance Fund in Lieu of Severance
Pay&rdquo;</I> (the &ldquo;<B>General Approval</B>&rdquo;), a copy of which is attached to this Agreement as <B><U>Exhibit A</U></B>,
and the provisions of the General Approval shall apply to the Employee and this Agreement.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0in">For avoidance
of doubt, as of the date indicated herein, the General Approval has not yet been updated to reflect the percentages of contributions/deductions
indicated above. In the event of discrepancy between the updated General Approval and the percentages stated herein, the updated
General Approval shall prevail.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0in">The Company
hereby waives any entitlement and/or right for reimbursement with respect to the severance compensation and acknowledges, that
upon termination of the Employee&rsquo;s employment in the Company, including inter alia, in the event of the Employee&rsquo;s
resignation, the Company shall release the severance compensation and shall transfer the severance compensation to the Employee,
except in the event that: (i) the Company has terminated the Employee&rsquo;s employment due to circumstances under which her entitlement
for severance payment is denied pursuant to Articles 16 or 17 of the Severance Law; or (ii) the Employee has already withdrawn
funds from the Policy and not because of &ldquo;EIROA MEZAKE&rdquo; according to Section 2(b) of the General Approval.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0in">&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"></TD><TD STYLE="width: 0.5in">2.6.</TD><TD STYLE="text-align: justify"><U>Vocational Studies</U>. The Company shall open and maintain a &ldquo;Keren Hishtalmut&rdquo;
Fund for the benefit of the Employee (the &ldquo;<B>Fund</B>&rdquo;). The Company shall contribute to such Fund an amount equal
to 7.5% of the Salary and the Employee shall contribute to the Fund an amount equal to 2.5% of the Salary. The Employee hereby
instructs the Company to transfer to the Fund Employee&rsquo;s contribution from the Salary. Upon termination of this Agreement
by either Party, other than termination by the Company for Cause, the Company shall assign and transfer to the Employee the ownership
in the Fund.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt">&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"></TD><TD STYLE="width: 0.5in">2.7.</TD><TD STYLE="text-align: justify"><U>Vacation</U>. The Employee shall be entitled to annual paid vacation of 20 working days; provided,
that at the beginning of each year during the Term, one additional vacation day shall be added, not to exceed 25 working days per
year. The Employee must use at least 15 vacation days every year. Subject to applicable law, up to two (2) years&rsquo; equivalent
of vacation days may be accumulated by the Employee. At the Employee&rsquo;s option, at the end of the employment period, accumulated
unused vacation days be converted into cash payments based on an equal to the proportionate part of the Salary for such days.</TD></TR></TABLE>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0in">Employee shall
coordinate in advance with the CEO the dates of the vacation hereunder.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0in">&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"></TD><TD STYLE="width: 0.5in">2.8.</TD><TD STYLE="text-align: justify"><U>Sick Leave</U>. The Employee shall be entitled to fully paid sick leave in accordance with the
Company&rsquo;s practices.</TD></TR></TABLE>

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

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

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt">&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"></TD><TD STYLE="width: 0.5in">2.9.</TD><TD STYLE="text-align: justify"><U>Annual Recreation Allowance (Dme&rsquo;i Havra&rsquo;a)</U>. The Employee shall be entitled
to annual recreation allowance according to applicable law, reflecting, on the Commencement Date, ten (10) years of seniority.
Employee shall bear any and all taxes applicable in connection with said annual recreation allowance in accordance with applicable
income tax regulations.</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 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: 0.5in; text-align: left">2.10.</TD><TD STYLE="text-align: justify"><U>Company Car</U>.</TD>
</TR></TABLE>

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

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-transform: uppercase; text-align: justify"><FONT STYLE="font-weight: normal">2.10.1.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT STYLE="text-transform: none">The
Company shall provide the Employee with a Company car (the </FONT>&ldquo;C</FONT><FONT STYLE="text-transform: none">ompany Car</FONT><FONT STYLE="font-weight: normal">&rdquo;),
<FONT STYLE="text-transform: none">as determined by the CEO, at the CEO&rsquo;s discretion</FONT>. <FONT STYLE="text-transform: none">The
Company Car shall be placed with the Employee for her use, which use shall be in compliance with the Company&rsquo;s vehicle use
policy. Employee shall take good care of the Company Car and ensure that the provisions of the insurance policy and the Company</FONT>&rsquo;<FONT STYLE="text-transform: none">s
rules relating to the Company Car are strictly, lawfully and carefully observed.</FONT></FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-transform: uppercase; text-align: justify"><FONT STYLE="font-weight: normal">2.10.2.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT STYLE="text-transform: none">Upon
the termination of employment hereunder, the Employee shall return the Company Car (together with its keys and any other equipment
supplied and/or installed therein by Company and any documents relating to the Company Car) to the Company</FONT>&rsquo;<FONT STYLE="text-transform: none">s
principal office. The Employee shall have no rights of lien with respect to the Company Car and/or any of said equipment and documents.</FONT></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-transform: uppercase; text-align: justify">&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"></TD><TD STYLE="width: 0.5in">2.11.</TD><TD STYLE="text-align: justify"><U>Telephone</U>. In lieu of entitlement to a cellular &ldquo;communications package&rdquo;, the
Employee shall receive, on a monthly basis, a payment equal to NIS 35, after applicable taxes. In addition, every three calendar
years as of the Commencement Date, the Employee is entitled to a payment equal to NIS 3,000, after applicable taxes, as reimbursement
for the acquisition of a mobile phone. The Employee is not liable to the Company for the value of the phone.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt">&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"></TD><TD STYLE="width: 0.5in">2.12.</TD><TD STYLE="text-align: justify"><U>Laptop</U>. The Company shall furnish, for the use of the Employee, a Company-owned laptop (the
 &ldquo;<B>Company Laptop</B>&rdquo;). Upon the termination of employment hereunder, the Employee shall return the Company Laptop
(together with any relevant equipment supplied and/or installed therein by Company).</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt">&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"></TD><TD STYLE="width: 0.5in">2.13.</TD><TD STYLE="text-align: justify"><U>Certain Reimbursements</U>. The Employee shall be entitled to full reimbursement from the Company
for reasonable expenses incurred during the performance of her duties hereunder up to a limit of NIS 1,500 per month, subject to
submission of substantiating documents, according to the Company&rsquo;s policy, and with the approval of the CEO.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt">&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"></TD><TD STYLE="width: 0.5in">2.14.</TD><TD STYLE="text-align: justify"><U>Taxes</U>. The Employee will bear any tax applicable on the payment or grant of any of the above
Salary and/or benefits, except as stated otherwise in this Agreement, according to the then applicable law. The Company shall be
entitled to and shall deduct and withhold from any amount or benefit payable to the Employee, any and all taxes, withholdings or
other payments as required under any applicable law.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt">&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: 0.5in"><FONT STYLE="font-weight: normal">3.</FONT></TD><TD STYLE="text-align: justify"><U>Confidentiality</U></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt">&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"></TD><TD STYLE="width: 0.5in">3.1.</TD><TD STYLE="text-align: justify">The Employee hereby agrees that she shall not, directly or indirectly, disclose or use at any time
any trade secrets or other confidential information of any type or nature, whether patentable or not, of the Company, its subsidiaries
or affiliates now or hereafter existing, including but not limited to, any (i) processes, formulas, trade secrets, copyrights,
innovations, inventions, discoveries, improvements, research or development and test results, specifications, data, patents, patent
applications and know-how of any type or nature; (ii) marketing plans, business plans, strategies, forecasts, financial information,
budgets, projections, product plans and pricing; (iii) personnel information, salary, and qualifications of employees; (iv) agreements,
customer and supplier information, including identities and product sales forecasts; and (v) any other information of a confidential
or proprietary nature (collectively, &ldquo;<B>Confidential Information</B>&rdquo;), of which the Employee is or becomes informed
or aware during the employment, whether or not developed by the Employee, it being agreed that for purposes of this Section 3.1,
the term Confidential Information shall not include information that has entered into the public domain through no wrongful act
by Employee or that was known to or developed by the Employee prior to being disclosed to the Employee by the Company. Upon termination
of this Agreement, or at any other time upon request of the Company, the Employee shall promptly deliver to the Company all physical
and electronic copies and other embodiments of Confidential Information and all memoranda, notes, notebooks, records, reports,
manuals, drawings, blueprints and any other documents or things belonging to the Company, and all copies thereof, in all cases,
which are in the possession or under the control of the Employee.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt">&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"></TD><TD STYLE="width: 0.5in">3.2.</TD><TD STYLE="text-align: justify">Employee hereby acknowledges and that all Confidential Information and any other rights in connection
therewith are and shall at all times remain the sole property of the Company.</TD></TR></TABLE>

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

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

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    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt">&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: 0.5in"><FONT STYLE="font-weight: normal">4.</FONT></TD><TD STYLE="text-align: justify"><U>Non-Competition and Non-Solicitation</U></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt">&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"></TD><TD STYLE="width: 0.5in">4.1</TD><TD STYLE="text-align: justify">The Employee agrees and undertakes that she will not, for so long as this Agreement is in effect
and for a period of one (1) year thereafter (the &ldquo;<B>Non-Competition Period</B>&rdquo;), compete or to assist others to compete,
whether directly or indirectly, with the business of the Company, as conducted prior to the date the Employee ceases to be employed
by the Company.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt">&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"></TD><TD STYLE="width: 0.5in">4.2</TD><TD STYLE="text-align: justify">The Employee further agrees and undertakes that during the Non-Competition Period, she will not
directly or indirectly solicit any business which is similar to the Company&rsquo;s business from individuals or entities that
are customers, suppliers or contractors of the Company, any of its subsidiaries or affiliates, without the prior written consent
of the CEO.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt">&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"></TD><TD STYLE="width: 0.5in">4.3</TD><TD STYLE="text-align: justify">The Employee further agrees and undertakes that during the Non-Competition Period, without the
prior written consent of the CEO, she will not offer to employ, in any way directly or indirectly solicit or seek to obtain or
achieve the employment by any business or entity of, employ, any person employed by either the Company, its subsidiaries, affiliates,
or any successors or assigns thereof.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt">&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"></TD><TD STYLE="width: 0.5in">4.4</TD><TD STYLE="text-align: justify">The Parties hereto agree that the duration and area for which the covenants set forth in this Section
4 are to be effective are necessary to protect the legitimate interests of the Company and its development efforts and accordingly
are reasonable, in terms of their geographical and temporal scope. In the event that any court determines that the time period
and/or area are unreasonable and that such covenants are to that extent unenforceable, the Parties hereto agree that such covenants
shall remain in full force and effect for the greatest period of time and in the greatest geographical area that would not render
them unenforceable. In addition, the Employee acknowledges and agrees that a breach of Sections 3, 4 or 5 hereof, may cause irreparable
harm to the Company, its subsidiaries, and/or affiliates and that the Company shall be entitled to specific performance of this
Agreement or an injunction without proof of special damages, together with the costs and reasonable attorney&rsquo;s fees and disbursements
incurred by the Company in enforcing its rights under Sections 3, 4 or 5. The Employee acknowledges that the compensation and benefits
she receives hereunder are paid, inter alia, as consideration for her undertakings contained in Sections 3, 4 and 5.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt">&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: 0.5in"><FONT STYLE="font-weight: normal">5.</FONT></TD><TD STYLE="text-align: justify"><U>Creations and Inventions</U></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt">&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"></TD><TD STYLE="width: 0.5in">5.1.</TD><TD STYLE="text-align: justify">The Employee acknowledges and agrees that all right, title and interest (including patent rights,
copyrights, trade secret rights, mask work rights, trademark rights and all other intellectual property rights of any type) throughout
the world relating to any and all Inventions (as defined below), shall be the sole and exclusive property of the Company and shall
be deemed &ldquo;<I>works made for hire</I>.&rdquo; The Inventions are to be promptly reported to the Company but otherwise maintained
in strict confidence by the Employee. The Employee hereby assigns to the Company all Inventions and any and all related patents
and patent rights, copyrights, trade secret rights, mask work rights, trademark rights and all other intellectual property rights
of any type and applications therefor, and appoints any officer of the Company as its duly authorized agent to execute, file, prosecute
and protect the same before any government agency, court or authority. Without limiting the foregoing, the Employee agrees to cooperate
fully with the Company and its nominees, at the Company&rsquo;s expense, to obtain patents or register copyrights, trademarks or
other industrial and intellectual property rights in any and all countries for the Inventions, and to execute all papers for use
in applying for and obtaining such protection thereon as the Company may desire, together with assignments thereof to confirm the
Company&rsquo;s ownership thereof.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt">&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"></TD><TD STYLE="width: 0.5in">5.2.</TD><TD STYLE="text-align: justify">Without limiting the foregoing, &ldquo;<B>Inventions</B>&rdquo; any and all inventions (whether
or not patentable), data, works of authorship, mask works, works, discoveries, designations, designs, know-how, technology, ideas,
information and improvements shall include any and all intellectual property, including without limitation, ideas, inventions,
processes, formulas, source and object codes, data, information, programs, know how, improvements, discoveries, designations, designs,
techniques, trade secrets, technology, patents and patents applications, copyrights, works of authorship, mask works and any other
intellectual property rights throughout the world, generated, produced, reduced to practice, or developed by Employee in connection
with her employment by the Company, developed using equipment, supplies, facilities or Confidential Information of the Company,
or related to the field of business of the Company, or to current or anticipated research and development efforts of the Company.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt">&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"></TD><TD STYLE="width: 0.5in">5.3.</TD><TD STYLE="text-align: justify">The Company&rsquo;s rights under this Section 5 shall be worldwide, and shall apply to any such
Invention notwithstanding that it is perfected or reduced to specific form after the Employee has ceased her services hereunder.</TD></TR></TABLE>

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

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

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    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt">&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: 0.5in"><FONT STYLE="font-weight: normal">6.</FONT></TD><TD STYLE="text-align: justify"><U>Term and Termination.</U></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt">&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"></TD><TD STYLE="width: 0.5in">6.1.</TD><TD STYLE="text-align: justify">This Agreement shall be in effect commencing as of the Commncement Date and shall continue in full
force and effect for an undefined period, unless and until terminated by either Party upon thirty (30) day&rsquo;s prior written
notice to the other Party. Such prior notice periods shall be referred to as the &ldquo;<B>Notice Period</B>&rdquo;, as applicable.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt">&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"></TD><TD STYLE="width: 0.5in">6.2.</TD><TD STYLE="text-align: justify">Notwithstanding anything to the contrary herein, the Company may terminate this Agreement in the
event of the inability of the Employee to perform her duties hereunder, whether by reason of injury (mental or physical), illness
or otherwise, incapacitating the Employee for a period exceeding ninety (90) days.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt">&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"></TD><TD STYLE="width: 0.5in">6.3.</TD><TD STYLE="text-align: justify">Notwithstanding anything to the contrary herein, the Company may terminate this Agreement at any
time, effective immediately and without need for prior written notice, and without derogating from any other remedy to which the
Company may be entitled, for Cause.</TD></TR></TABLE>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0in">For the purposes
of this Agreement, the term &ldquo;<B>Cause</B>&rdquo; shall mean: (i) a material breach by Employee of this Agreement, provided
such event is not cured within thirty (30) days after receipt by the Employee of a written notice from the Company; (ii) any breach
by Employee of her fiduciary duties or duties of care to the Company; (iii) Employee&rsquo;s dishonesty or fraud or felonious conviction;
(iv) Employee&rsquo;s embezzlement of funds of the Company; (v) any conduct by Employee, alone or together with others, which is
intent to cause materially injurious to the Company, monetary or otherwise; (vi) Employee&rsquo;s gross negligence or willful misconduct
in performance of her duties and/or responsibilities hereunder; (vii) Employee&rsquo;s disregard or insubordination of any lawful
resolution and/or instruction of the CEO with respect to Employee&rsquo;s duties and/or responsibilities towards the Company, provided
such event is not cured within thirty (30) days after receipt by the Employee of a written notice from the Company; (viii) the
occurrence of an event or circumstance which result in the Employee having a conflict of interest with her position with the Company,
without Employee having notified the Company thereof, as provided herein; (ix) any breach by Employee of her confidentiality undertakings
to the Company; or (x) any consequences which would entitle the Company to terminate Employee&rsquo;s employment without severance
payments under the Severance Pay Law.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0in">&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"></TD><TD STYLE="width: 0.5in">6.4.</TD><TD STYLE="text-align: justify">The Employee shall cooperate with the Company and assist the integration into the Company&rsquo;s
organization of the person or persons who will assume the Employee&rsquo;s responsibilities, pursuant to Company&rsquo;s instructions.
At the option of the Company, the Employee shall, during any Notice Period, either continue with her duties or remain absent from
the premises of the Company, subject to applicable law; <U>provided</U>, that Employee shall be entitled to all payments and other
benefits due to her hereunder. At any time during the Notice Period, the Company may elect to terminate this Agreement and the
relationship with the Employee immediately; <U>provided</U>, that Employee shall be entitled to all payments and other benefits
due to her hereunder as she would have been entitled to receive for the remaining period of the Notice Period. For purposes of
clarification, and notwithstanding anything to the contrary herein, in the Plan or in any option agreement, the Employee shall
be deemed to be in Continuous Service (as such term is defined in the Plan) to the Company under the Plan as if she was actually
employed until the end of any applicable Notice Period regardless of whether the Company decides to terminate this Agreement prior
to the end of such period.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt">&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"></TD><TD STYLE="width: 0.5in">6.5.</TD><TD STYLE="text-align: justify">Upon termination of Employee&rsquo;s employment with the Company hereunder, for any reason whatsoever,
the Company shall have no further obligation or liability towards the Employee in connection with her employment as aforesaid.
The Company may set-off any outstanding amounts due to it by Employee against any payment due by the Company to the Employee, subject
to applicable law. Without limiting the generality of the foregoing, in the event that Employee fails to comply with her prior
notice or other obligations hereunder or under applicable law, the Company shall be entitled to set-off any amount to which Employee
would have been entitled during the Notice Period, from any payment due by the Company to the Employee, all without prejudice to
any other remedy to which the Company may be entitled pursuant to this Agreement or applicable law.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt">&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"></TD><TD STYLE="width: 0.5in">6.6.</TD><TD STYLE="text-align: justify">The provisions of Sections 2.10.2, last sentence of Section 2.12, 2.14, 3, 4, 5, 6.4 (as applicable),
6.5, 6.6 and 7, and the applicable provisions of Section 8, shall survive the termination or expiration of this Agreement for any
reason whatsoever.</TD></TR></TABLE>

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

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt">&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: 0.5in"><FONT STYLE="font-weight: normal">7.</FONT></TD><TD STYLE="text-align: justify"><U>Notices</U>.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt">&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"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-weight: normal">7.1</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-weight: normal">Any and all notices and communications in connection with this
Agreement shall be in writing, addressed to the parties as follows:</FONT></TD></TR></TABLE>

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 93%; border-collapse: collapse; margin-left: 0.5in">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 25%; text-align: justify"><FONT STYLE="font-size: 10pt">If to the Company:</FONT></TD>
    <TD STYLE="width: 75%">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Protalix Ltd.</B></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">2 Snunit Street, Science Park</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">P.O. Box 455</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Carmiel 2161401, Israel</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Attn: CEO</P></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="2" STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">It to the Employee, in accordance with the Employee&rsquo;s contact information provided in Employee&rsquo;s employment file.</FONT></TD></TR>
</TABLE>
<P STYLE="margin-top: 0; margin-bottom: 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"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-weight: normal">7.2</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-weight: normal">All notices shall be given by registered mail (postage prepaid),
by facsimile or email or otherwise delivered by hand or by messenger to the Parties&rsquo; respective addresses as above or such
other address as may be designated by notice. Any notice sent in accordance with this Section 7 shall be deemed received upon the
earlier of: (i) if sent by facsimile or email, upon transmission and electronic confirmation of transmission or (if transmitted
and received on a non-business day) on the first business day following transmission and electronic confirmation of transmission;
(ii) if sent by registered mail, upon three (3) days of mailing; (iii) if sent by messenger, upon delivery; and (iv) the actual
receipt thereof.</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt">&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: 0.5in"><FONT STYLE="font-weight: normal">8.</FONT></TD><TD STYLE="text-align: justify"><U>Miscellaneous.</U></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt">&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"></TD><TD STYLE="width: 0.5in">8.1</TD><TD STYLE="text-align: justify"><U>Headings; Interpretation</U>. Section and Subsection headings contained herein are for reference
and convenience purposes only and shall not in any way be used for the interpretation of this Agreement.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt">&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"></TD><TD STYLE="width: 0.5in">8.2</TD><TD STYLE="text-align: justify"><U>Entire Agreement</U>. This Agreement constitutes the entire agreement between the Parties with
respect to the subject matters hereof and cancels and supersedes all prior agreements, understandings and arrangements, oral or
written, between the Parties with respect to such subject matters.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt">&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"></TD><TD STYLE="width: 0.5in">8.3</TD><TD STYLE="text-align: justify"><U>Amendment; Waiver</U>. No provision of this Agreement may be modified or amended unless such
modification or amendment is agreed to in writing and signed by the Employee and the Company. The observance of any term hereof
may be waived (either prospectively or retroactively and either generally or in a particular instance) only with the written consent
of the Party against which/whom such waiver is sought. No waiver by either Party at any time to act with respect to any breach
or default by the other Party of, or compliance with, any condition or provision of this Agreement to be performed by such other
Party shall be deemed a waiver of similar or dissimilar provisions or conditions at the same or at any prior or subsequent time.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt">&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"></TD><TD STYLE="width: 0.5in">8.4</TD><TD STYLE="text-align: justify"><U>Governing Law; Dispute Resolution</U>. This Agreement shall be governed by and construed in
accordance with the laws of the State of Israel. Any dispute arising out of or relating to this Agreement shall be resolved by
a single arbitrator to be appointed by the Parties, or in the event the Parties fail to agree on the identity of the arbitrator
within ten (10) days of a Party&rsquo;s request to appoint same, the arbitrator shall be appointed by the Chairman of the Israeli
Bar Association.</TD></TR></TABLE>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0in">Arbitration
proceedings shall be conducted for no longer than forty-five (45) days. The proceedings shall be conducted in Hebrew and according
to the rules of substantive law. The arbitrator will not be bound by rules of evidence or procedure and will give a reasoned decision,
in writing. The arbitrator&rsquo;s decision shall be final and binding in any court. Unless otherwise determined by the arbitrator,
each party to the proceedings shall bear its own expenses and the arbitrator&rsquo;s fees and expenses shall be borne in equal
parts by the parties to the proceedings.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0in">This Section
shall constitute an arbitration agreement between the Parties.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0in">&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"></TD><TD STYLE="width: 0.5in">8.5</TD><TD STYLE="text-align: justify"><U>Severability</U>. The provisions of this Agreement shall be deemed severable and the invalidity
or unenforceability of any provision shall not affect the validity or enforceability of the other provisions hereof. If any part
of this Agreement is determined to be invalid, illegal or unenforceable, such determination shall not affect the validity, legality
or enforceability of any other part of this Agreement; and the remaining parts shall be enforced as if such invalid, illegal, or
unenforceable part were not contained herein; <U>provided</U>, <U>however</U>, that in such event this Agreement shall be interpreted
so as to give effect, to the greatest extent consistent with and permitted by applicable law, to the meaning and intention of the
excluded provision as determined by such court of competent jurisdiction.</TD></TR></TABLE>

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

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

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    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt">&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"></TD><TD STYLE="width: 0.5in">8.6</TD><TD STYLE="text-align: justify"><U>Assignment</U>. Neither this Agreement nor any of the Employee&rsquo;s rights, privileges, or
obligations set forth in, arising under, or created by this Agreement may be assigned or transferred by the Employee without the
prior consent in writing of the Company. The Company shall be entitled to assign its rights and obligations hereunder to any entity
acquiring a material part of its assets or to a subsidiary or affiliate thereof (as such terms are defined in the Israeli Securities
Law-1968).</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt">&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"></TD><TD STYLE="width: 0.5in">8.7</TD><TD STYLE="text-align: justify"><U>Counterparts</U>. This Agreement may be executed in one or more counterparts, each of which
shall be deemed an original, but which together shall constitute one and the same instrument. Transmission by facsimile or by electronic
mail (in PDF or other, similar form) of an executed counterpart of this Agreement shall be deemed to constitute due and sufficient
delivery of such counterpart.</TD></TR></TABLE>

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


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 56.7pt; text-align: justify; text-indent: -28.35pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><I>[Signature Page to Protalix Ltd. Employment
Agreement]</I></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">IN WITNESS WHEREOF, the Parties hereto have executed this Employment
Agreement as of the date first above-mentioned.</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>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid">/s/ Dror Bashan</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid">/s/ Yael Hayon</TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="2" STYLE="text-align: center"><FONT STYLE="font-variant: small-caps"><B>PROTALIX LTD.</B></FONT></TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center"><FONT STYLE="text-transform: uppercase"><B>Dr. Yael Hayon</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="2">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="white-space: nowrap; width: 3%">By:</TD>
    <TD STYLE="width: 37%"> Dror Bashan</TD>
    <TD STYLE="text-align: center; width: 20%">&nbsp;</TD>
    <TD STYLE="text-align: center; width: 40%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>President and Chief Executive
        Officer</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="2">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="2">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD></TR>
</TABLE>

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    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><B><U>Exhibit A</U></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: center"><B><U>GENERAL APPROVAL REGARDING PAYMENTS
BY EMPLOYERS TO A PENSION FUND AND INSURANCE FUND IN LIEU OF SEVERANCE PAY</U></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">By virtue of my power under Section 14 of the Severance Pay
Law, 5723-1963 (hereinafter, the &ldquo;<B>Law</B>&rdquo;), I certify that payments made by an employer beginning on the date this
authorization is publicized, for its employee, towards a comprehensive pension in a provident fund for benefit payments, which
is not an insurance fund as implied in the Income Tax Regulations (Rules for Approving and Managing Provident Funds) 5724-1964
(hereinafter, a &ldquo;<B>Pension Fund</B>&rdquo;), or towards Managers&rsquo; Insurance that includes an option for benefit payments
(hereinafter, an &ldquo;<B>Insurance Fund</B>), or a combination of payments towards a Pension Fund and an Insurance Fund (hereinafter,
 &ldquo;<B>Employer Payments</B>), shall be in lieu of the severance pay to which the said employee is entitled for the wages of
which the said payments were made and for the period for which they were paid (hereinafter, the &ldquo;<B>Exempted Salary</B>&rdquo;),
provided the following conditions shall be met:</P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.5in; text-align: left">(1)</TD><TD STYLE="text-align: justify">Employer Payments -</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 0pt 0.5in">(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;To a
Pension Fund are not less than 14.33% of the Exempted Salary or 12% of the Exempted Salary if the employer pays for her employee,
in addition to this, supplementary severance payments towards a Severance Pay Fund or an Insurance Fund in the name of the employee,
at a rate of 2.33% of the Exempted Salary. If the employer does not pay the said 2.33% in addition to the 12%, its payments shall
be only in lieu of 72% of the employee&rsquo;s severance pay;</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">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;To an
Insurance Fund are not less than one of the following:</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 1in">(1)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13<SUP>1</SUP>/<SUB>3</SUB>%
of the Exempted Salary, if the employer pays for its employee payments for additional monthly salary support in case of employee&rsquo;s
inability to work, through a plan approved by the Supervisor for Capital Markets, Insurance and Savings in the Ministry of Finance,
at a rate necessary to guarantee at least 75% of the Exempted Salary, or at a rate of 2<SUP>1</SUP>/<SUB>2</SUB>% of the Exempted
Salary, whichever is lower (hereinafter, &ldquo;<B>Disability Insurance</B>&rdquo;);</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in">(2)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11% of
the Exempted salary, if the employer paid an additional payment for the Disability Insurance, and in such case the employer&rsquo;s
payments shall be only in lieu of 72% of the employee&rsquo;s severance pay. If, in addition to such payments, the employer has
also paid payments for the supplement of severance pay to a Severance Pay Fund or an Insurance Fund under the name of the employee
at a rate of 2<SUP>1</SUP>/<SUB>3</SUB>% of the Exempted Salary, the employer&rsquo;s payments shall be in lieu of 100% of the
employee&rsquo;s severance pay.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">(2)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Not later than three months from the commencement of the employer&rsquo;s payments a written agreement shall be prepared between
the employer and the employee, which shall include:</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in"><FONT STYLE="font-size: 10pt">(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
employee&rsquo;s agreement to an arrangement in accordance with this authorization, in wording that specifies the employer&rsquo;s
payments and the Pension Fund and the Insurance Fund, as relevant. The said agreement shall also include the wording of this approval;</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in"><FONT STYLE="font-size: 10pt">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
employer&rsquo;s prior waiver of any right it may have to a financial reimbursement for all or part of its payments, unless the
employee&rsquo;s right to severance pay has been rescinded by a Judicial decree by virtue of Sections 16 or 17 of the Law, or
that the employee withdrew funds from the Pension Fund or from the Insurance Fund not for a qualifying incident. In this regard,
a &ldquo;qualifying incident&rdquo; means death, disability or retirement at the age of 60 or older.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">(3)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
This authorization shall not derogate from the employee&rsquo;s right to severance pay under the Law, collective agreement, expansion
order or employment contract, for wages exceeding the Exempted salary.</FONT></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>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD><B>Eliyahu Yishai</B></TD>
    </TR>
<TR STYLE="vertical-align: top">
    <TD>Minister of Labor and Welfare</TD>
    </TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>


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<DOCUMENT>
<TYPE>EX-10.2
<SEQUENCE>3
<FILENAME>tm2022015d1_ex10-2.htm
<DESCRIPTION>EXHIBIT 10.2
<TEXT>
<HTML>
<HEAD>
     <TITLE></TITLE>
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<BODY STYLE="font: 10pt Times New Roman, Times, Serif">

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><B>Exhibit 10.2</B></P>

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

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-transform: uppercase; text-align: center">AMENDED
 &amp; RESTATED EMPLOYMENT AGREEMENT</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">This AMENDED AND RESTATED EMPLOYMENT AGREEMENT (this &ldquo;<B>Agreement</B>&rdquo;)
is made effective as of June 7, 2020 (the &ldquo;<B>Effective Date</B>&rdquo;), by and between Protalix Ltd., a company organized
under the laws of the State of Israel (the &ldquo;<B>Company</B>&rdquo;) and Einat Brill Almon, Ph.D., a resident of the State
of Israel (the &ldquo;<B>Employee</B>&rdquo;) (each of the Company and Employee shall be referred to herein, as a &ldquo;<B>Party</B>&rdquo;
and collectively, the &ldquo;<B>Parties</B>&rdquo;).</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"></TD><TD STYLE="width: 1in"><B>WHEREAS</B>,</TD><TD>the Employee is the Sr. Vice President, Product Development of the Company currently an employee of the Company and of its
parent company, Protalix BioTherapeutics, Inc. (&ldquo;<B>Protalix Inc.</B>&rdquo;), and her employment is currently governed by
that certain Employment Agreement between the Company and the Employee, dated as of December 19, 2004 (the &ldquo;<B>Existing Agreement</B>&rdquo;);
and</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt">&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"></TD><TD STYLE="width: 1in"><B>WHEREAS</B>,</TD><TD>the Company and the Employee desire to amend and restate terms and conditions of the Employee&rsquo;s employment by the Company
as hereinafter set forth;</TD></TR></TABLE>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>NOW, THEREFORE</B>, based on the representations contained
herein and in consideration of the mutual premises and covenants set forth herein, the Company and the Employee hereby agree that
the Existing Agreement is hereby amended and restated in its entirety to read as follows:</P>

<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: 0in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-weight: normal">1.</FONT></TD><TD STYLE="text-align: justify"><U>Employment</U>.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt">&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"></TD><TD STYLE="width: 0.5in">1.1.</TD><TD STYLE="text-align: justify">Commencing as of the Effective Date, the Employee shall be promoted to Senior Vice President and
Chief Development Officer. Employee will continue to report to the Chief Executive Officer of the Company (&ldquo;<B>CEO</B>&rdquo;).</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt">&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"></TD><TD STYLE="width: 0.5in">1.2.</TD><TD STYLE="text-align: justify">The Employee&rsquo;s duties and responsibilities shall be those duties and responsibilities customarily
performed by a Chief Development Officer of a pharmaceutical company, as may be determined from time to time by the CEO. These
will include, inter alia, the following:</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in; text-align: left"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify">The identification, absorption and development of new
proteins to be used as products in and by the Company;</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in; text-align: left"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify">Development of the Company&rsquo;s product candidates;</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in; text-align: left"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify">Working with the U.S. Food and Drug Administration and
comparable regulators worldwide, and with clinical researchers, clinical research organizations and clinical sites;</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in; text-align: left"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify">Responsibility for managing the Company&rsquo;s intellectual
property and patents portfolio with the patent editor; and</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in; text-align: left"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify">The carrying out of any other task or assignment required
in connection with the role of an officer in the Employee&rsquo;s position, in accordance with the CEO&rsquo;s decision</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: -0.5in">&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"></TD><TD STYLE="width: 0.5in">1.3.</TD><TD STYLE="text-align: justify">The Employee shall be employed on a full-time basis. The Employee shall devote her full and undivided
attention and full working time to the business and affairs of the Company and the fulfillment of her duties and responsibilities
under this Agreement. During the term of this Agreement, the Employee shall not be engaged in any other employment nor engage in
any other business activity or render any services, with or without compensation, for any other person or entity without the CEO&rsquo;s
prior written consent. The Employee shall notify the Company immediately of any event or circumstance which may hinder the performance
of her obligations hereunder or result in the Employee having a conflict of interest with her position as Chief Development Officer.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt">&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"></TD><TD STYLE="width: 0.5in">1.4.</TD><TD STYLE="text-align: justify">The Employee acknowledges that the Company&rsquo;s facilities are located in Carmiel.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt">&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"></TD><TD STYLE="width: 0.5in">1.5.</TD><TD STYLE="text-align: justify">It is agreed between the Parties that the position that Employee holds within the Company is a
management position, which demands a special level of loyalty and accordingly the Work Hours and Rest Law&nbsp;(1951) shall not
apply to Employee&rsquo;s employment by the Company and this Agreement. The Employee further acknowledges and agrees that her duties
and responsibilities may entail irregular work hours and extensive traveling in Israel and abroad, for which she is adequately
rewarded by the compensation provided in this Agreement. The Parties confirm that this is a personal services contract and that
the relationship between the Parties shall not be subject to any general or special collective bargaining agreement or any custom
or practice of the Company in respect of any of its other employees or contractors.</TD></TR></TABLE>

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

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

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt">&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: 0.5in"><FONT STYLE="font-weight: normal">2.</FONT></TD><TD STYLE="text-align: justify"><U>Salary and Employee Benefits.</U></TD></TR></TABLE>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">In full consideration
of Employee&rsquo;s employment hereunder, commencing as of the Effective Date (unless otherwise expressly provided in this Section
2), the Employee shall be entitled to the following payments and benefits, it being understood and agreed that any Salary-based
benefits shall be calculated exclusively on the basis of the base Salary (without consideration to any other benefit):</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">&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"></TD><TD STYLE="width: 0.5in">2.1.</TD><TD STYLE="text-align: justify"><U>Salary</U>. Effective as of the Commencement Date, Employee&rsquo;s gross salary shall be increased
to NIS 80,000 per month (the &ldquo;<B>Salary</B>&rdquo;). The Salary will be adjusted from time to time in accordance with the
Cost of Living Index (&ldquo;Tosefet Yoker&rdquo;) as may be required by law. The Salary shall be payable monthly in arrears, and
shall be paid to the Employee in accordance with the Company&rsquo;s policy.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt">&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"></TD><TD STYLE="width: 0.5in">2.2.</TD><TD STYLE="text-align: justify"><U>Bonus</U>.</TD></TR></TABLE>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-transform: uppercase"><FONT STYLE="font-weight: normal">2.2.1&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;E<FONT STYLE="text-transform: none">mployee
shall be entitled to the following cash bonuses upon the successful achievement of the milestones set forth opposite the bonus
amounts:</FONT></FONT></P>

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 90%; border-collapse: collapse; margin-left: 0.5in">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 17%"><B><U>Amount</U></B></TD>
    <TD STYLE="width: 83%"><B><U>Milestone</U></B></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>$100,000</TD>
    <TD>Payable for milestones achieved during calendar year 2019.</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>$100,000</TD>
    <TD>Submission of a biologics license application (BLA) with the FDA for PRX-102 under the FDA&rsquo;s Accelerated Approval pathway.</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>$100,000</TD>
    <TD>The FDA&rsquo;s grant of Accelerated Approval of PRX-102, which shall be payable if and when the Company receives the
    applicable cash milestone payment for the same achievement from Chiesi Farmaceutici S.p.A. (&ldquo;<B>Chiesi</B>&rdquo;).</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>$200,000</TD>
    <TD>Approval of PRX-102 with a label indicating superiority in either the United States or the European Union. This bonus
    shall be payable only once and only if and when the Company receives the applicable cash milestone payment for the same
    achievement from Chiesi.</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-transform: uppercase">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-transform: uppercase"><FONT STYLE="font-weight: normal">2.2.2.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT STYLE="text-transform: none">The
Board shall be entitled to grant, at any time, and notwithstanding the foregoing, a discretionary cash or equity bonus to the Employee,
based on significant achievements.</FONT></FONT></P>

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

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-transform: uppercase"><FONT STYLE="font-weight: normal">2.2.3&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;W<FONT STYLE="text-transform: none">ithout
derogating the foregoing, in the event of Triggered COC (as defined below), Employee shall be entitled to receive a one-time cash
bonus in the amount of $</FONT>400,000 (<FONT STYLE="text-transform: none">the </FONT>&ldquo;</FONT><FONT STYLE="text-transform: none">COC
Bonus</FONT><FONT STYLE="font-weight: normal">&rdquo;); <FONT STYLE="text-transform: none">provided</FONT>, <FONT STYLE="text-transform: none">however,
that (i) the COC Bonus is inclusive of any termination notice and other applicable amounts stipulated under this agreement; and
(ii) the COC Bonus is inclusive of any milestone achieved following the consummation of such change of control.</FONT></FONT></P>

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

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-transform: uppercase"><FONT STYLE="font-weight: normal; text-transform: none">For
the purpose hereof, Triggered COC shall mean: Change in ownership or control of Protalix Inc. effected through the direct acquisition
by any person or related group of persons (other than an acquisition from or by Protalix Inc. or by a Protalix Inc.-sponsored
employee benefit plan or by a person that directly or indirectly controls, is controlled by, or is under common control with,
Protalix Inc.) of beneficial ownership (within the meaning of Rule 13d-3 of the U.S. Securities Exchange Act of 1934) of securities
possessing more than fifty percent (50%) of the total combined voting power of Protalix Inc.&rsquo;s outstanding securities pursuant
to an agreement which was initiated by the Board of Directors of Protalix Inc. and was led by an investment bank on its behalf.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-transform: uppercase; text-indent: 0in"><FONT STYLE="font-weight: normal; text-transform: none">It
is agreed that the definition of Triggered COC is applicable only to this Agreement and not to the Plan (as defined below).</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-transform: uppercase; text-indent: 0in">&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"></TD><TD STYLE="width: 0.5in">2.3.</TD><TD STYLE="text-align: justify"><U>Options</U>. Subject to the approval of Protalix Inc.&rsquo;s Board of Directors or the Compensation
Committee thereof, the Employee shall be entitled to options to purchase shares of common stock of Protalix Inc., as follows:</TD></TR></TABLE>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0in">An option
under Protalix Inc.&rsquo;s 2006 Amended and Restated Stock Incentive Plan, as amended (the &ldquo;<B>Plan</B>&rdquo;) to
purchase 196,995 shares of common stock, par value US$0.001 per share, of Protalix Inc. (the &ldquo;<B>Option</B>&rdquo;),
shall be granted to the Employee pursuant to the terms of an Option Agreement, subject to the following terms and
conditions:</P>

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

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

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    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0in">(i) vesting
over a period of four (4) years on a quarterly basis, commencing on the date of grant;</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0in">(ii) vesting
of the Option will be accelerated in full upon a Corporate Transaction or a Change in Control, as those terms are defined in the
Plan;</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0in">(iii) the shares
underlying the Option will have an exercise price equal to the closing sales price of Protalix Inc. common stock on the NYSE American
for the trading day immediately preceding the date of grant; and</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0in">(iv) the Option
shall be granted to Employee pursuant to Section 102 of the Tax Ordinance, capital gain route, and the rules, regulations, orders
and procedures promulgated hereunder.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0in">&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"></TD><TD STYLE="width: 0.5in">2.4.</TD><TD STYLE="text-align: justify"><U>Indemnification; D&amp;O Insurance</U>. The Employee shall continue to be entitled to the same
indemnification terms and conditions granted to all other officers and directors of the Company and Protalix Inc. Each of Protalix
Inc. and the Company shall maintain Directors&rsquo; and Officers&rsquo; insurance policy or policies, providing coverage that
is no less favorable for Employee than the coverage then being provided to any other present or former executive officer or director
of the Company or Protalix Inc. that shall apply to the other executive officers and directors of the Company.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt">&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"></TD><TD STYLE="width: 0.5in">2.5.</TD><TD STYLE="text-align: justify"><U>Managers Insurance Policy (&ldquo;Bituach Menahalim&rdquo;) and/or Pension Fund (&ldquo;Keren
Pensya&rdquo;)</U>. According to the Employee&rsquo;s choice, the Company shall effect a Manager&rsquo;s Insurance Policy or Pension
Fund or a combination thereof, (the &ldquo;<B>Policy</B>&rdquo;) in the name of the Employee, and shall pay a sum of 8.33% of the
Salary for severance pay. The Company shall deduct 6% from the Salary to be paid as benefits (Tagmulim) on behalf of the Employee
towards such Policy. The Company&rsquo;s contribution for the Policy shall be 6.5% of the Salary as employer&rsquo;s share for
benefits (Tagmulim).</TD></TR></TABLE>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0in">In the event
that the Employee shall elect to be insured in a Manager&rsquo;s Insurance Policy or a provident fund which is not a Pension Fund
- the Company&rsquo;s contributions for benefits (Tagmulim) shall include payment for disability insurance in an amount which will
ensure 75% of the Salary, <U>provided</U>, <U>however</U>, that in any event the contributions of the Company for benefits shall
be equal to at least 5% of the Salary, and the total cost of the Company for disability insurance and benefits shall not exceed
7.5% of the Salary.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0in">The Parties
hereby declare and agree that the pension arrangement in accordance with this clause constitutes a &ldquo;beneficial arrangement&rdquo;
for the purpose of the Extension Order (Combined Version) for Mandatory Pension under the Collective Agreements Law, 5717-1957
(the &ldquo;<B>Pension Extension Order</B>&rdquo;), and the Company shall not be under any obligation to provide any pension arrangement
as provided in the Pension Extension Order other than as provided in this Section.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0in">Without derogating
from the generality of the aforesaid, all payments made by the Company to the Policy shall be in lieu of severance pay due to the
Employee or her heirs from the Company, and the Company shall not have any additional or other obligations to pay the Employee
severance payments, and the Employee hereby consents to this arrangement in accordance with Section 14 of the Severance Pay Law
5723-1963 and the <I>&ldquo;General Approval Regarding Payments by Employers to a Pension Fund and Insurance Fund in Lieu of Severance
Pay&rdquo;</I> (the &ldquo;<B>General Approval</B>&rdquo;), a copy of which is attached to this Agreement as <B><U>Exhibit A</U></B>,
and the provisions of the General Approval shall apply to the Employee and this Agreement.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0in">For avoidance
of doubt, as of the date indicated herein, the General Approval has not yet been updated to reflect the percentages of contributions/deductions
indicated above. In the event of discrepancy between the updated General Approval and the percentages stated herein, the updated
General Approval shall prevail.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0in">The Company
hereby waives any entitlement and/or right for reimbursement with respect to the severance compensation and acknowledges, that
upon termination of the Employee&rsquo;s employment in the Company, including inter alia, in the event of the Employee&rsquo;s
resignation, the Company shall release the severance compensation and shall transfer the severance compensation to the Employee,
except in the event that: (i) the Company has terminated the Employee&rsquo;s employment due to circumstances under which her entitlement
for severance payment is denied pursuant to Articles 16 or 17 of the Severance Law; or (ii) the Employee has already withdrawn
funds from the Policy and not because of &ldquo;EIROA MEZAKE&rdquo; according to Section 2(b) of the General Approval.</P>

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

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

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0in">&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"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-size: 10pt">2.6.</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt"><U>Vocational Studies</U></FONT>. <FONT STYLE="font-size: 10pt">The
Company shall keep open and continue to maintain a &ldquo;Keren Hishtalmut&rdquo; Fund for the benefit of the Employee (the &ldquo;<B>Fund</B>&rdquo;).
The Company shall contribute to such Fund an amount equal to 7-1/2% of the Salary and the Employee shall contribute to the Fund
an amount equal to 2-1/2% of the Salary. The Employee hereby instructs the Company to transfer to the Fund Employee&rsquo;s contribution
from the Salary.</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt">&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"></TD><TD STYLE="width: 0.5in">2.7.</TD><TD STYLE="text-align: justify"><U>Vacation</U>. The Employee shall be entitled to annual paid vacation of 29 working days. Subject
to applicable law, up to two (2) years&rsquo; equivalent of vacation days may be accumulated and may, at the Employee&rsquo;s option
at the end of the employment period, be converted into cash payments in an amount equal to the proportionate part of the Salary
for such days.</TD></TR></TABLE>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0in">Employee shall
coordinate in advance with the CEO the dates of the vacation hereunder.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0in">&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"></TD><TD STYLE="width: 0.5in">2.8.</TD><TD STYLE="text-align: justify"><U>Sick Leave</U>. The Employee shall be entitled to fully paid sick leave pursuant to the Sick
Pay Law (1976).</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt">&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"></TD><TD STYLE="width: 0.5in">2.9.</TD><TD STYLE="text-align: justify"><U>Annual Recreation Allowance (Dme&rsquo;i Havra&rsquo;a)</U>. The Employee shall be entitled
to annual recreation allowance according to applicable law.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt">&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"></TD><TD STYLE="width: 0.5in">2.10.</TD><TD STYLE="text-align: justify"><U>Company Car</U>.</TD></TR></TABLE>

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

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-transform: uppercase"><FONT STYLE="font-weight: normal">2.10.1.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT STYLE="text-transform: none">The
Company shall provide the Employee with a Company car (the </FONT>&ldquo;</FONT><FONT STYLE="text-transform: none">Company Car</FONT><FONT STYLE="font-weight: normal">&rdquo;),
<FONT STYLE="text-transform: none">at Employee</FONT>&rsquo;<FONT STYLE="text-transform: none">s discretion</FONT>, <FONT STYLE="text-transform: none">from
the category of cars provided by the Company to its officers of the same level as the Employee. The Company Car shall be placed
with the Employee for her business and personal use. Employee shall take good care of the Company Car and ensure that the provisions
of the insurance policy and the Company</FONT>&rsquo;<FONT STYLE="text-transform: none">s rules relating to the Company Car are
strictly, lawfully and carefully observed.</FONT></FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-transform: uppercase"><FONT STYLE="font-weight: normal">2.10.2.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT STYLE="text-transform: none">Subject
to applicable law, the Company shall bear all fixed and ongoing expenses relating to the Company Car and to the use and maintenance
thereof, excluding expenses incurred in connection with any violations of law, which shall be paid solely by Employee. The Company
shall gross up any and all taxes applicable to the Employee in connection with said Company Car and the use thereof, in accordance
with income tax regulations applicable thereto.</FONT></FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-transform: uppercase"><FONT STYLE="font-weight: normal">2.10.3.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT STYLE="text-transform: none">Upon
the termination of employment hereunder, the Employee shall return the Company Car (together with its keys and any other
equipment supplied and/or installed therein by the Company and any documents relating to the Company Car) to the
Company</FONT>&rsquo;<FONT STYLE="text-transform: none">s principal office. Employee shall have no rights of lien with
respect to the Company Car and/or any of said equipment and documents.</FONT></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-transform: uppercase">&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"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-weight: normal; text-underline-style: double">2.11.</FONT></TD><TD STYLE="text-align: justify"><U>Telephone</U>.
                                         The Company shall furnish, for the use of the Employee, a cellular telephone (the &ldquo;<B>Company
                                         Phone</B>&rdquo;), and shall bear all the costs and expenses associated with the use
                                         of the Company Phone. The Company will bear the tax applicable to the use of the Company
                                         Phone by the Employee, according to applicable law. All such costs, expenses and tax
                                         payments borne and payable by the Company pursuant to this Section 2.11 are in addition
                                         to the Salary. Upon the termination of employment hereunder, the Employee shall be entitled
                                         to keep her phone number. The provisions of Section 2.10.3. above shall apply to the
                                         Company Phone, <I>mutatis mutandis</I>.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt">&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"></TD><TD STYLE="width: 0.5in">2.12.</TD><TD STYLE="text-align: justify"><FONT STYLE="font-weight: normal; text-underline-style: double"><U>Certain
                                         Reimbursements</U></FONT>. The Employee shall be entitled to full reimbursement from
                                         the Company for reasonable expenses incurred during the performance of her duties hereunder
                                         up to a limit of NIS 1,500 per month, subject to submission of substantiating documents,
                                         according to the Company&rsquo;s policy.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt">&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"></TD><TD STYLE="width: 0.5in">2.13.</TD><TD STYLE="text-align: justify"><U>Taxes</U>. The Employee will bear any tax applicable on the payment or grant of any of the above
Salary and/or benefits, except as stated otherwise in this Agreement, according to the then applicable law. The Company shall be
entitled to and shall deduct and withhold from any amount or benefit payable to the Employee, any and all taxes, withholdings or
other payments as required under any applicable law.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt">&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: 0.5in"><FONT STYLE="font-weight: normal">3.</FONT></TD><TD STYLE="text-align: justify"><U>Confidentiality</U></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt">&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"></TD><TD STYLE="width: 0.5in">3.3.</TD><TD STYLE="text-align: justify">The Employee hereby agrees that she shall not, directly or indirectly, disclose or use at any time
any trade secrets or other confidential information of any type or nature, whether patentable or not, of the Company, its subsidiaries
or affiliates now or hereafter existing, including but not limited to, any (i) processes, formulas, trade secrets, copyrights,
innovations, inventions, discoveries, improvements, research or development and test results, specifications, data, patents, patent
applications and know-how of any type or nature; (ii) marketing plans, business plans, strategies, forecasts, financial information,
budgets, projections, product plans and pricing; (iii) personnel information, salary, and qualifications of employees; (iv) agreements,
customer and supplier information, including identities and product sales forecasts; and (v) any other information of a confidential
or proprietary nature (collectively, &ldquo;<B>Confidential Information</B>&rdquo;), of which the Employee is or becomes informed
or aware during the employment, whether or not developed by the Employee, it being agreed that for purposes of this Section 3.1,
the term Confidential Information shall not include information that has entered into the public domain through no wrongful act
by Employee or that was known to or developed by the Employee prior to being disclosed to the Employee by the Company. Upon termination
of this Agreement, or at any other time upon request of the Company, the Employee shall promptly deliver to the Company all physical
and electronic copies and other embodiments of Confidential Information and all memoranda, notes, notebooks, records, reports,
manuals, drawings, blueprints and any other documents or things belonging to the Company, and all copies thereof, in all cases,
which are in the possession or under the control of the Employee.</TD></TR></TABLE>

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

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

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    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt">&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"></TD><TD STYLE="width: 0.5in">3.4.</TD><TD STYLE="text-align: justify">Employee hereby acknowledges and that all Confidential Information and any other rights in connection
therewith are and shall at all times remain the sole property of the Company.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt">&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: 0.5in"><FONT STYLE="font-weight: normal">4.</FONT></TD><TD STYLE="text-align: justify"><U>Non-Competition and Non-Solicitation</U></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt">&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"></TD><TD STYLE="width: 0.5in">4.5</TD><TD STYLE="text-align: justify">The Employee agrees and undertakes that she will not, for so long as this Agreement is in effect
and for a period of one (1) year thereafter (the &ldquo;<B>Non-Competition Period</B>&rdquo;), compete or to assist others to compete,
whether directly or indirectly, with the business of the Company, as conducted prior to the date the Employee ceases to be employed
by the Company.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt">&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"></TD><TD STYLE="width: 0.5in">4.6</TD><TD STYLE="text-align: justify">The Employee further agrees and undertakes that during the Non-Competition Period, she will not
directly or indirectly solicit any business which is similar to the Company&rsquo;s business from individuals or entities that
are customers, suppliers or contractors of the Company, any of its subsidiaries or affiliates, without the prior written consent
of the CEO.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt">&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"></TD><TD STYLE="width: 0.5in">4.7</TD><TD STYLE="text-align: justify">The Employee further agrees and undertakes that during the Non-Competition Period, without the
prior written consent of the CEO, she will not offer to employ, in any way directly or indirectly solicit or seek to obtain or
achieve the employment by any business or entity of, employ, any person employed by either the Company, its subsidiaries, affiliates,
or any successors or assigns thereof.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt">&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"></TD><TD STYLE="width: 0.5in">4.8</TD><TD STYLE="text-align: justify">The Parties hereto agree that the duration and area for which the covenants set forth in this Section
4 are to be effective are necessary to protect the legitimate interests of the Company and its development efforts and accordingly
are reasonable, in terms of their geographical and temporal scope. In the event that any court determines that the time period
and/or area are unreasonable and that such covenants are to that extent unenforceable, the Parties hereto agree that such covenants
shall remain in full force and effect for the greatest period of time and in the greatest geographical area that would not render
them unenforceable. In addition, the Employee acknowledges and agrees that a breach of Sections 3, 4 or 5 hereof, may cause irreparable
harm to the Company, its subsidiaries, and/or affiliates and that the Company shall be entitled to specific performance of this
Agreement or an injunction without proof of special damages, together with the costs and reasonable attorney&rsquo;s fees and disbursements
incurred by the Company in enforcing its rights under Sections 3, 4 or 5. The Employee acknowledges that the compensation and benefits
she receives hereunder are paid, inter alia, as consideration for her undertakings contained in Sections 3, 4 and 5.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt">&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: 0.5in"><FONT STYLE="font-weight: normal">5.</FONT></TD><TD STYLE="text-align: justify"><U>Creations and Inventions </U></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt">&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"></TD><TD STYLE="width: 0.5in">5.4.</TD><TD STYLE="text-align: justify">The Employee acknowledges and agrees that all right, title and interest (including patent rights,
copyrights, trade secret rights, mask work rights, trademark rights and all other intellectual property rights of any type) throughout
the world relating to any and all Inventions (as defined below), shall be the sole and exclusive property of the Company and shall
be deemed &ldquo;<I>works made for hire</I>.&rdquo; The Inventions are to be promptly reported to the Company but otherwise maintained
in strict confidence by the Employee. The Employee hereby assigns to the Company all Inventions and any and all related patents
and patent rights, copyrights, trade secret rights, mask work rights, trademark rights and all other intellectual property rights
of any type and applications therefor, and appoints any officer of the Company as its duly authorized agent to execute, file, prosecute
and protect the same before any government agency, court or authority. Without limiting the foregoing, the Employee agrees to cooperate
fully with the Company and its nominees, at the Company&rsquo;s expense, to obtain patents or register copyrights, trademarks or
other industrial and intellectual property rights in any and all countries for the Inventions, and to execute all papers for use
in applying for and obtaining such protection thereon as the Company may desire, together with assignments thereof to confirm the
Company&rsquo;s ownership thereof.</TD></TR></TABLE>

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

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

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    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt">&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"></TD><TD STYLE="width: 0.5in">5.5.</TD><TD STYLE="text-align: justify">Without limiting the foregoing, &ldquo;<B>Inventions</B>&rdquo; any and all inventions (whether
or not patentable), data, works of authorship, mask works, works, discoveries, designations, designs, know-how, technology, ideas,
information and improvements shall include any and all intellectual property, including without limitation, ideas, inventions,
processes, formulas, source and object codes, data, information, programs, know how, improvements, discoveries, designations, designs,
techniques, trade secrets, technology, patents and patents applications, copyrights, works of authorship, mask works and any other
intellectual property rights throughout the world, generated, produced, reduced to practice, or developed by Employee in connection
with her employment by the Company, developed using equipment, supplies, facilities or Confidential Information of the Company,
or related to the field of business of the Company, or to current or anticipated research and development efforts of the Company.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt">&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"></TD><TD STYLE="width: 0.5in">5.6.</TD><TD STYLE="text-align: justify">The Company&rsquo;s rights under this Section 5 shall be worldwide, and shall apply to any such
Invention notwithstanding that it is perfected or reduced to specific form after the Employee has ceased her services hereunder.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt">&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: 0.5in"><FONT STYLE="font-weight: normal">6.</FONT></TD><TD STYLE="text-align: justify"><U>Term and Termination.</U></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt">&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"></TD><TD STYLE="width: 0.5in">6.7.</TD><TD STYLE="text-align: justify">This Agreement shall be in effect commencing as of the Effective Date and shall continue in full
force and effect for an undefined period, unless and until terminated as follows: if by the Company, by one hundred eighty (180)
days prior written notice to the Employee, and if by the Employee, by ninety (90) days prior written notice to the Company. Each
of such prior notice periods shall be referred to as the &ldquo;<B>Notice Period</B>&rdquo;, as applicable.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt">&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"></TD><TD STYLE="width: 0.5in">6.8.</TD><TD STYLE="text-align: justify">Notwithstanding anything to the contrary herein, the Company may terminate this Agreement in the
event of the inability of the Employee to perform her duties hereunder, whether by reason of injury (mental or physical), illness
or otherwise, incapacitating the Employee for a period exceeding ninety (90) days.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt">&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"></TD><TD STYLE="width: 0.5in">6.9.</TD><TD STYLE="text-align: justify">Notwithstanding anything to the contrary herein, the Company may terminate this Agreement at any
time, effective immediately and without need for prior written notice, and without derogating from any other remedy to which the
Company may be entitled, for Cause.</TD></TR></TABLE>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0in">For the purposes
of this Agreement, the term &ldquo;<B>Cause</B>&rdquo; shall mean: (i) a material breach by Employee of this Agreement, provided
such event is not cured within thirty (30) days after receipt by the Employee of a written notice from the Company; (ii) any breach
by Employee of her fiduciary duties or duties of care to the Company; (iii) Employee&rsquo;s dishonesty or fraud or felonious conviction;
(iv) Employee&rsquo;s embezzlement of funds of the Company; (v) any conduct by Employee, alone or together with others, which is
intent to cause materially injurious to the Company, monetary or otherwise; (vi) Employee&rsquo;s gross negligence or willful misconduct
in performance of her duties and/or responsibilities hereunder; (vii) Employee&rsquo;s disregard or insubordination of any lawful
resolution and/or instruction of the CEO with respect to Employee&rsquo;s duties and/or responsibilities towards the Company, provided
such event is not cured within thirty (30) days after receipt by the Employee of a written notice from the Company; (viii) the
occurrence of an event or circumstance which result in the Employee having a conflict of interest with her position with the Company,
without Employee having notified the Company thereof, as provided herein; (ix) any breach by Employee of her confidentiality undertakings
to the Company; or (x) any consequences which would entitle the Company to terminate Employee&rsquo;s employment without severance
payments under the Severance Pay Law.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0in">&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"></TD><TD STYLE="width: 0.5in">6.10.</TD><TD STYLE="text-align: justify">The Employee shall cooperate with the Company and assist the integration into the Company&rsquo;s
organization of the person or persons who will assume the Employee&rsquo;s responsibilities, pursuant to Company&rsquo;s instructions.
At the option of the Company, the Employee shall, during any Notice Period, either continue with her duties or remain absent from
the premises of the Company, subject to applicable law; <U>provided</U>, that Employee shall be entitled to all payments and other
benefits due to her hereunder. At any time during the Notice Period, the Company may elect to terminate this Agreement and the
relationship with the Employee immediately; <U>provided</U>, that Employee shall be entitled to all payments and other benefits
due to her hereunder as she would have been entitled to receive for the remaining period of the Notice Period. For purposes of
clarification, and notwithstanding anything to the contrary herein, in the Plan or in any Option Agreement, the Employee shall
be deemed to be in Continuous Service (as such term is defined in the Plan) to the Company under the Plan as if she was actually
employed until the end of any applicable Notice Period regardless of whether the Company decides to terminate this Agreement prior
to the end of such period.</TD></TR></TABLE>

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

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

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    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt">&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"></TD><TD STYLE="width: 0.5in">6.11.</TD><TD STYLE="text-align: justify">Upon termination of Employee&rsquo;s employment with the Company hereunder, for any reason whatsoever,
the Company shall have no further obligation or liability towards the Employee in connection with her employment as aforesaid.
The Company may set-off any outstanding amounts due to it by Employee against any payment due by the Company to the Employee, subject
to applicable law. Without limiting the generality of the foregoing, in the event that Employee fails to comply with her prior
notice or other obligations hereunder or under applicable law, the Company shall be entitled to set-off any amount to which Employee
would have been entitled during the Notice Period, from any payment due by the Company to the Employee, all without prejudice to
any other remedy to which the Company may be entitled pursuant to this Agreement or applicable law.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt">&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"></TD><TD STYLE="width: 0.5in">6.12.</TD><TD STYLE="text-align: justify">The provisions of Sections 2.10.3, last sentence of Sections 2.11 and 2.13, 3, 4, 5, 6.4 (as applicable),
6.5, 6.6, 7 and the applicable provisions of Section 8 shall survive the termination or expiration of this Agreement for any reason
whatsoever.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt">&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: 0.5in"><FONT STYLE="font-weight: normal">7.</FONT></TD><TD STYLE="text-align: justify"><U>Notices. </U></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt">&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"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-weight: normal">7.3</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-weight: normal">Any and all notices and communications in connection with this
Agreement shall be in writing, addressed to the parties as follows:</FONT></TD></TR></TABLE>

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 93%; border-collapse: collapse; margin-left: 0.5in">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 100%; text-align: justify"><FONT STYLE="font-size: 10pt">If to the Company:</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Protalix Ltd.</B></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">2 Snunit Street, P.O. Box 455, Carmiel
        2161401, Israel</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Attn: CEO</P></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">It to the Employee, in accordance with the Employee&rsquo;s contact information provided in Employee&rsquo;s employment file.</FONT></TD></TR>
</TABLE>

<P STYLE="margin-top: 0; margin-bottom: 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"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-weight: normal">7.4</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-weight: normal">All notices shall be given by registered mail (postage prepaid),
by facsimile or email or otherwise delivered by hand or by messenger to the Parties&rsquo; respective addresses as above or such
other address as may be designated by notice. Any notice sent in accordance with this Section 7 shall be deemed received upon the
earlier of: (i) if sent by facsimile or email, upon transmission and electronic confirmation of transmission or (if transmitted
and received on a non-business day) on the first business day following transmission and electronic confirmation of transmission;
(ii) if sent by registered mail, upon three (3) days of mailing; (iii) if sent by messenger, upon delivery; and (iv) the actual
receipt thereof.</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt">&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: 0.5in"><FONT STYLE="font-weight: normal">8.</FONT></TD><TD STYLE="text-align: justify"><U>Miscellaneous.</U></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt">&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"></TD><TD STYLE="width: 0.5in">8.8</TD><TD STYLE="text-align: justify"><U>Headings; Interpretation</U>. Section and Subsection headings contained herein are for reference
and convenience purposes only and shall not in any way be used for the interpretation of this Agreement.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt">&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"></TD><TD STYLE="width: 0.5in">8.9</TD><TD STYLE="text-align: justify"><U>Entire Agreement</U>. This Agreement constitutes the entire agreement between the Parties with
respect to the subject matters hereof and cancels and supersedes all prior agreements, understandings and arrangements, oral or
written, between the Parties with respect to such subject matters.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt">&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"></TD><TD STYLE="width: 0.5in">8.10</TD><TD STYLE="text-align: justify"><U>Amendment; Waiver</U>. No provision of this Agreement may be modified or amended unless such
modification or amendment is agreed to in writing and signed by the Employee and the Company. The observance of any term hereof
may be waived (either prospectively or retroactively and either generally or in a particular instance) only with the written consent
of the Party against which/whom such waiver is sought. No waiver by either Party at any time to act with respect to any breach
or default by the other Party of, or compliance with, any condition or provision of this Agreement to be performed by such other
Party shall be deemed a waiver of similar or dissimilar provisions or conditions at the same or at any prior or subsequent time.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt">&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"></TD><TD STYLE="width: 0.5in">8.11</TD><TD STYLE="text-align: justify"><U>Governing Law; Dispute Resolution</U>. This Agreement shall be governed by and construed in
accordance with the laws of the State of Israel. Any dispute arising out of or relating to this Agreement shall be resolved by
a single arbitrator to be appointed by the Parties, or in the event the Parties fail to agree on the identity of the arbitrator
within ten (10) days of a Party&rsquo;s request to appoint same, the arbitrator shall be appointed by the Chairman of the Israeli
Bar Association.</TD></TR></TABLE>

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

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

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    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0in">Arbitration
proceedings shall be conducted for no longer than forty-five (45) days. The proceedings shall be conducted in Hebrew and according
to the rules of substantive law. The arbitrator will not be bound by rules of evidence or procedure and will give a reasoned decision,
in writing. The arbitrator&rsquo;s decision shall be final and binding in any court. Unless otherwise determined by the arbitrator,
each party to the proceedings shall bear its own expenses and the arbitrator&rsquo;s fees and expenses shall be borne in equal
parts by the parties to the proceedings.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0in">This Section
shall constitute an arbitration agreement between the Parties.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0in">&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"></TD><TD STYLE="width: 0.5in">8.12</TD><TD STYLE="text-align: justify"><U>Severability</U>. The provisions of this Agreement shall be deemed severable and the invalidity
or unenforceability of any provision shall not affect the validity or enforceability of the other provisions hereof. If any part
of this Agreement is determined to be invalid, illegal or unenforceable, such determination shall not affect the validity, legality
or enforceability of any other part of this Agreement; and the remaining parts shall be enforced as if such invalid, illegal, or
unenforceable part were not contained herein; <U>provided</U>, <U>however</U>, that in such event this Agreement shall be interpreted
so as to give effect, to the greatest extent consistent with and permitted by applicable law, to the meaning and intention of the
excluded provision as determined by such court of competent jurisdiction.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt">&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"></TD><TD STYLE="width: 0.5in">8.13</TD><TD STYLE="text-align: justify"><U>Assignment</U>. Neither this Agreement nor any of the Employee&rsquo;s rights, privileges, or
obligations set forth in, arising under, or created by this Agreement may be assigned or transferred by the Employee without the
prior consent in writing of the Company. The Company shall be entitled to assign its rights and obligations hereunder to any entity
acquiring a material part of its assets or to a subsidiary or affiliate thereof (as such terms are defined in the Israeli Securities
Law-1968).</TD></TR></TABLE>

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

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

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    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><I>[Signature Page to Protalix Ltd. Employment
Agreement]</I></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">IN WITNESS WHEREOF, the Parties hereto have executed this Employment
Agreement as of the date first above-mentioned.</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"></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 COLSPAN="2" STYLE="border-bottom: Black 1pt solid">/s/ Dror Bashan</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid">/s/ Einat Brill Almon</TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="2" STYLE="text-align: center"><FONT STYLE="font-variant: small-caps"><B>PROTALIX LTD.</B></FONT></TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center"><FONT STYLE="text-transform: uppercase"><B>Einat BRILL ALMON, PH.D.</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="2">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="white-space: nowrap; width: 3%">By:</TD>
    <TD STYLE="width: 37%"> Dror Bashan</TD>
    <TD STYLE="text-align: center; width: 20%">&nbsp;</TD>
    <TD STYLE="text-align: center; width: 40%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>President and Chief Executive
        Officer</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="2">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="2">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</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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<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><U>Exhibit A</U></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: center"><B><U>GENERAL APPROVAL REGARDING PAYMENTS
BY EMPLOYERS TO A PENSION FUND AND INSURANCE FUND IN LIEU OF SEVERANCE PAY</U></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">By virtue of my power under Section 14 of the Severance Pay
Law, 5723-1963 (hereinafter, the &ldquo;<B>Law</B>&rdquo;), I certify that payments made by an employer beginning on the date this
authorization is publicized, for its employee, towards a comprehensive pension in a provident fund for benefit payments, which
is not an insurance fund as implied in the Income Tax Regulations (Rules for Approving and Managing Provident Funds) 5724-1964
(hereinafter, a &ldquo;<B>Pension Fund</B>&rdquo;), or towards Managers&rsquo; Insurance that includes an option for benefit payments
(hereinafter, an &ldquo;<B>Insurance Fund</B>), or a combination of payments towards a Pension Fund and an Insurance Fund (hereinafter,
 &ldquo;<B>Employer Payments</B>), shall be in lieu of the severance pay to which the said employee is entitled for the wages of
which the said payments were made and for the period for which they were paid (hereinafter, the &ldquo;<B>Exempted Salary</B>&rdquo;),
provided the following conditions shall be met:</P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.5in; text-align: left">(1)</TD><TD STYLE="text-align: justify">Employer Payments -</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 0pt 0.5in">(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;To a
Pension Fund are not less than 14.33% of the Exempted Salary or 12% of the Exempted Salary if the employer pays for his employee,
in addition to this, supplementary severance payments towards a Severance Pay Fund or an Insurance Fund in the name of the employee,
at a rate of 2.33% of the Exempted Salary. If the employer does not pay the said 2.33% in addition to the 12%, its payments shall
be only in lieu of 72% of the employee&rsquo;s severance pay;</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">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;To an
Insurance Fund are not less than one of the following:</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 1in">(1)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13<SUP>1</SUP>/<SUB>3</SUB>%
of the Exempted Salary, if the employer pays for its employee payments for additional monthly salary support in case of employee&rsquo;s
inability to work, through a plan approved by the Supervisor for Capital Markets, Insurance and Savings in the Ministry of Finance,
at a rate necessary to guarantee at least 75% of the Exempted Salary, or at a rate of 2<SUP>1</SUP>/<SUB>2</SUB>% of the Exempted
Salary, whichever is lower (hereinafter, &ldquo;<B>Disability Insurance</B>&rdquo;);</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in">(2)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11% of
the Exempted salary, if the employer paid an additional payment for the Disability Insurance, and in such case the employer&rsquo;s
payments shall be only in lieu of 72% of the employee&rsquo;s severance pay. If, in addition to such payments, the employer has
also paid payments for the supplement of severance pay to a Severance Pay Fund or an Insurance Fund under the name of the employee
at a rate of 2<SUP>1</SUP>/<SUB>3</SUB>% of the Exempted Salary, the employer&rsquo;s payments shall be in lieu of 100% of the
employee&rsquo;s severance pay.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">(2)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Not later than three months from the commencement of the employer&rsquo;s payments a written agreement shall be prepared between
the employer and the employee, which shall include:</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in"><FONT STYLE="font-size: 10pt">(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
employee&rsquo;s agreement to an arrangement in accordance with this authorization, in wording that specifies the employer&rsquo;s
payments and the Pension Fund and the Insurance Fund, as relevant. The said agreement shall also include the wording of this approval;</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in"><FONT STYLE="font-size: 10pt">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
employer&rsquo;s prior waiver of any right it may have to a financial reimbursement for all or part of its payments, unless the
employee&rsquo;s right to severance pay has been rescinded by a Judicial decree by virtue of Sections 16 or 17 of the Law, or
that the employee withdrew funds from the Pension Fund or from the Insurance Fund not for a qualifying incident. In this regard,
a &ldquo;qualifying incident&rdquo; means death, disability or retirement at the age of 60 or older.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">(3)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
This authorization shall not derogate from the employee&rsquo;s right to severance pay under the Law, collective agreement, expansion
order or employment contract, for wages exceeding the Exempted salary.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&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><B>Eliyahu Yishai</B></TD>
    </TR>
<TR STYLE="vertical-align: top">
    <TD>Minister of Labor and Welfare</TD>
    </TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

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

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<DESCRIPTION>EXHIBIT 99.1
<TEXT>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><B>Exhibit 99.1</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-top: 0pt; margin-bottom: 0pt; text-align: left"><IMG SRC="image_001.jpg" ALT=""></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>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Protalix BioTherapeutics Appoints Yael
Hayon, Ph.D. as its<BR>
New Vice President, Research and Development</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">CARMIEL,&nbsp;Israel, June&nbsp;8, 2020&nbsp;/PRNewswire/ --&nbsp;Protalix
BioTherapeutics, Inc.&nbsp;(NYSE American:PLX) (TASE:PLX) today announced the appointment of Yael Hayon, Ph.D. as the Company&rsquo;s
new Vice President, Research and Development, effective July&nbsp;5, 2020. On June 2, 2020, Yoseph Shaaltiel, Ph.D. retired from
his position as the Company&rsquo;s Executive Vice President, Research and Development, effective June 15, 2020.</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 4.5pt 0pt 0; background-color: white">&ldquo;Yossi&rsquo;s
incredible scientific and entrepreneurial vision led to his founding of Protalix,&rdquo; said Zeev Bronfeld, Chairman of
Protalix&rsquo;s Board of Directors. &ldquo;Yossi&rsquo;s efforts resulted in the development of ProCellEx<SUP>&reg;</SUP>,
our proprietary plant cell-based protein expression system which we use to produce taliglucerase alfa, an approved treatment
for Gaucher disease, pegunigalsidase alfa, our investigational treatment for Fabry disease which is in the latter stages of
clinical development and our other investigational drug candidates. The Board of Directors and I are immensely grateful to
Yossi for his knowledge, leadership, integrity and professionalism in building Protalix from its founding  days to where
it is today. We wish him all the best in his future endeavors.&rdquo;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 4.5pt 0pt 0; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; background-color: white">&ldquo;I am delighted that Yael is
joining the Protalix team where she will bring valuable and diverse research &amp; development experience and knowledge,&rdquo;
said Dror Bashan, Protalix&rsquo;s President and Chief Executive Officer. &ldquo;We are greatly thankful to Yossi for his exceptional
efforts in founding and building Protalix, and wish him great success in the future.&rdquo;</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Dr. Hayon brings to the Company over a decade of experience
in pharmaceutical research and development, both in the scientific operations and the administrative functions. She most recently
served as Vice President of Clinical Affairs of Syqe Medical Ltd., Tel-Aviv, where she, among other things, established the clinical
and medical global strategy, and was responsible for providing strategic input on the regulatory development plan. Prior to her
role at Syqe Medical, Dr. Hayon served as the Head of R&amp;D Israeli Site of LogicBio Therapeutics, Inc., Cambridge, Massachusetts,
where she managed LogicBio&rsquo;s Israeli-based Research and Development facility and was involved in strategic decision-making.
From 2014 through 2016 she served as the R&amp;D Manager, Stem Cell Medicine Ltd., Jerusalem, Israel. Dr. Hayon holds a Ph.D. in
Neurobiology/Hematology, and an MS.c. in Neurobiology, both from the Hebrew University Faculty of Medicine, Jerusalem, Israel.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>About Protalix BioTherapeutics, Inc.</B></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 is a biopharmaceutical company focused on the development
and commercialization of recombinant therapeutic proteins expressed through its proprietary plant cell-based expression system,
ProCellEx<SUP>&reg;</SUP>. Protalix was the first company to gain U.S.&nbsp;Food and Drug Administration (FDA) approval of a protein
produced through plant cell-based in suspension expression system. Protalix&rsquo;s unique expression system represents a new method
for developing recombinant proteins in an industrial-scale manner.</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&rsquo;s first product manufactured by ProCellEx, taliglucerase
alfa, was approved for marketing by the FDA in May 2012 and, subsequently, by the regulatory authorities of other countries. Protalix
has licensed to Pfizer Inc. the worldwide development and commercialization rights for taliglucerase alfa, excluding Brazil, where
Protalix retains full rights.</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&rsquo;s development pipeline consists of proprietary
versions of recombinant therapeutic proteins that target established pharmaceutical markets, including the following product candidates:
pegunigalsidase alfa, a modified version of the recombinant human &alpha;-Galactosidase-A protein for the proposed treatment of
Fabry disease; OPRX<FONT STYLE="color: #242424">-</FONT>106, an orally-delivered anti-inflammatory treatment; alidornase alfa for
the treatment of Cystic Fibrosis; and others. Protalix has partnered with Chiesi Farmaceutici S.p.A., both in the United States
and outside the United States, for the development and commercialization of pegunigalsidase alfa.</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"><B>Forward-Looking Statements</B></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">To the extent that statements in this press release are not
strictly historical, all such statements are forward-looking, and are made pursuant to the safe-harbor provisions of the Private
Securities Litigation Reform Act of 1995. The terms &ldquo;expect,&rdquo; &ldquo;anticipate,&rdquo; &ldquo;believe,&rdquo; &ldquo;estimate,&rdquo;
 &ldquo;project,&rdquo; &ldquo;plan,&rdquo; &ldquo;should&rdquo; and &ldquo;intend,&rdquo; and other words or phrases of similar
import are intended to identify forward-looking statements. These forward-looking statements are subject to known and unknown risks
and uncertainties that may cause actual future experience and results to differ materially from the statements made. These statements
are based on our current beliefs and expectations as to such future outcomes. Drug discovery and development involve a high degree
of risk and the final results of a clinical trial may be different than the preliminary findings for the clinical trial. Factors
that might cause material differences include, among others: that the FDA might not grant marketing approval for PRX<FONT STYLE="color: #242424">-</FONT>102
in the currently anticipated timeline or at all and, if approved, whether PRX<FONT STYLE="color: #242424">-</FONT>102 will be commercially
successful; failure or delay in the commencement or completion of our preclinical and clinical trials; risks associated with the
novel coronavirus disease (COVID<FONT STYLE="color: #242424">-</FONT>19) outbreak, which may adversely impact our business, preclinical
studies and clinical trials; the inherent risks and uncertainties in developing drug platforms and products of the type we are
developing; the impact of development of competing therapies and/or technologies by other companies and institutions; and other
factors described in our filings with the U.S.&nbsp;Securities and Exchange Commission. The statements in this press release are
valid only as of the date hereof and we disclaim any obligation to update this information, except as may be required by 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; background-color: white; color: #373737"><B>Investor Contact</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; background-color: white; color: #373737">Chuck Padala, Managing
Director</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; background-color: white; color: #373737">LifeSci Advisors</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; background-color: white; color: #373737">646-627-8390</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; background-color: white; color: blue"><U>chuck@lifesciadvisors.com</U></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; background-color: white; color: #373737"><B>Media Contact</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; background-color: white; color: #373737">Brian Pinkston</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; background-color: white; color: #373737">LaVoieHealthScience</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; background-color: white; color: #373737">857-588-3347</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; background-color: white; color: blue"><U>bpinkston@lavoiehealthscience.com</U></P>

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; background-color: white; color: #373737">###</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; background-color: white; color: #373737">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; background-color: white; color: #373737"></P>

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end
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
