<SEC-DOCUMENT>0001144204-15-037889.txt : 20150618
<SEC-HEADER>0001144204-15-037889.hdr.sgml : 20150618
<ACCEPTANCE-DATETIME>20150618145242
ACCESSION NUMBER:		0001144204-15-037889
CONFORMED SUBMISSION TYPE:	6-K
PUBLIC DOCUMENT COUNT:		4
CONFORMED PERIOD OF REPORT:	20150618
FILED AS OF DATE:		20150618
DATE AS OF CHANGE:		20150618

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			SuperCom Ltd
		CENTRAL INDEX KEY:			0001291855
		STANDARD INDUSTRIAL CLASSIFICATION:	SEMICONDUCTORS & RELATED DEVICES [3674]
		IRS NUMBER:				000000000
		STATE OF INCORPORATION:			L3
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		6-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-33668
		FILM NUMBER:		15940038

	BUSINESS ADDRESS:	
		STREET 1:		1 ARIE SHENKAR STREET
		CITY:			HERTZLIYA
		STATE:			L3
		ZIP:			4672501
		BUSINESS PHONE:		972-9-889-0800

	MAIL ADDRESS:	
		STREET 1:		1 ARIE SHENKAR STREET
		CITY:			HERTZLIYA
		STATE:			L3
		ZIP:			4672501

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	Vuance Ltd
		DATE OF NAME CHANGE:	20101019

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	Vuance
		DATE OF NAME CHANGE:	20070508

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	SuperCom Ltd.
		DATE OF NAME CHANGE:	20040526
</SEC-HEADER>
<DOCUMENT>
<TYPE>6-K
<SEQUENCE>1
<FILENAME>v413474_6k.htm
<DESCRIPTION>FORM 6-K
<TEXT>
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<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="font: 18pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>UNITED STATES</B></P>

<P STYLE="font: 18pt 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; text-align: justify; text-indent: 0.5in">&nbsp;</P>

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

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

<P STYLE="font: 18pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>FORM 6-K</B></P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>REPORT OF FOREIGN PRIVATE ISSUER</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>PURSUANT TO RULE 13a-16 OR 15d-16 UNDER</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; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B><I>June 18, 2015</I></B></P>

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

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

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

<P STYLE="font: 24pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>SUPERCOM LTD.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>(Translation of Registrant&rsquo;s name
into English)</B></P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>1, Shenkar Street, </B></P>

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

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

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

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

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Indicate by check mark whether the registrant
files or will file annual reports under cover Form 20-F or Form 40-F.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Form 20-F&nbsp;&nbsp;<FONT STYLE="font-family: Wingdings">x</FONT>&nbsp;&nbsp;&nbsp;&nbsp;Form
40-F&nbsp;&nbsp;<FONT STYLE="font-family: Wingdings">&uml;</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Indicate by check mark if the registrant
is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(1):&nbsp;&nbsp;<FONT STYLE="font-family: Wingdings">&uml;</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Indicate by check mark if the registrant
is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(7):&nbsp;&nbsp;<FONT STYLE="font-family: Wingdings">&uml;</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Indicate by check mark whether the registrant
by furnishing the information contained in this Form is also thereby furnishing the information to the Commission pursuant to Rule
12g3-2(b) under the Securities Exchange Act of 1934.&nbsp;&nbsp;Yes&nbsp;&nbsp;<FONT STYLE="font-family: Wingdings">&uml;</FONT>&nbsp;&nbsp;&nbsp;&nbsp;No&nbsp;&nbsp;<FONT STYLE="font-family: Wingdings">x</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">If &ldquo;Yes&rdquo; is marked, indicate
below the file number assigned to the registrant in connection with Rule 12g3-2(b):&nbsp;82- <U>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</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>EXPLANATORY NOTE</B></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: justify">The following exhibits are attached.</P>

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

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        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Exhibit </B></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Number</B></P></TD>
    <TD STYLE="vertical-align: top; width: 1%; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; width: 85%; border-bottom: Black 1pt solid; padding-right: 0; padding-left: 0; text-align: center"><FONT STYLE="font-size: 10pt"><B>Description</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 0; padding-left: 0; text-align: center; padding-bottom: 5pt"><FONT STYLE="font-size: 10pt">1.1</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify; padding-bottom: 5pt">&nbsp;</TD>
    <TD STYLE="padding-right: 0; padding-left: 0; text-align: left; padding-bottom: 5pt"><FONT STYLE="font-size: 10pt">Underwriting Agreement, dated June 18, 2015, by and between SuperCom Ltd. and Cowen and Company, LLC, as representative of the several underwriters named therein</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 0; padding-left: 0; text-align: center; padding-bottom: 5pt"><FONT STYLE="font-size: 10pt">5.1</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify; padding-bottom: 5pt">&nbsp;</TD>
    <TD STYLE="padding-right: 0; padding-left: 0; text-align: left; padding-bottom: 5pt"><FONT STYLE="font-size: 10pt">Opinion of S. Friedman &amp; Co. Advocates</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 0; padding-left: 0; text-align: center; padding-bottom: 5pt">23.1 </TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify; padding-bottom: 5pt">&nbsp;</TD>
    <TD STYLE="padding-right: 0; padding-left: 0; text-align: left; padding-bottom: 5pt">Consent of S. Friedman &amp; Co. Advocates (included in Exhibit 5.1)</TD></TR>
</TABLE>
<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">This report on Form 6-K is incorporated by reference into
the shelf registration statement on Form F-3 (File No. 333-197434) filed by the registrant with the Securities and Exchange
Commission on July 15, 2014, and declared effective on July 25, 2014.</P>

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


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

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

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

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

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<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2"><FONT STYLE="font-size: 10pt"><B>SuperCom Ltd.</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 50%">&nbsp;</TD>
    <TD STYLE="width: 3%">&nbsp;</TD>
    <TD STYLE="width: 47%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-size: 10pt">Dated: June 18, 2015</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">By:&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid"><FONT STYLE="font-size: 10pt">/s/ Arie Trabelsi</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Name: Arie Trabelsi</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Title: &nbsp;Chief Executive Officer</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>


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



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<DOCUMENT>
<TYPE>EX-1.1
<SEQUENCE>2
<FILENAME>v413474_ex1-1.htm
<DESCRIPTION>EXHIBIT 1.1
<TEXT>
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<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="margin: 0; text-align: right"><B>EXHIBIT 1.1</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><B>Registration No. 333-197434</B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>2,100,000 Shares</B></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>SUPERCOM LTD.</B></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>Ordinary Shares</B></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><U>UNDERWRITING AGREEMENT</U></B></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: right">June 18, 2015</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: justify"><FONT STYLE="font-variant: small-caps">Cowen
and Company, LLC</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 9pt; text-align: justify">As Representative of the several
Underwriters</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">c/o Cowen and Company, LLC</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">599 Lexington Avenue</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">New York, New York 10022</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">1.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT STYLE="font-variant: small-caps"><I>Introductory</I></FONT>.
SuperCom Ltd., a company organized under the laws of the State of Israel (the &ldquo;<B><I>Company</I></B>&rdquo;),
proposes to sell, pursuant to the terms of this Agreement, to the several underwriters named in <U>Schedule A</U> hereto
(the &ldquo;<B><I>Underwriters</I></B>,&rdquo; or, each, an &ldquo;<B><I>Underwriter</I></B>&rdquo;), an aggregate of
2,100,000 ordinary shares, NIS 0.25 par value (the &ldquo;<B><I>Ordinary Shares</I></B>&rdquo;), of the Company. The
aggregate of 2,100,000 Ordinary Shares so proposed to be sold is hereinafter referred to as the &ldquo;<B><I>Firm
Shares</I></B>&rdquo;. The Company also proposes to sell to the Underwriters, upon the terms and conditions set forth in
Section 3 hereof, up to an additional 315,000 Ordinary Shares (the &ldquo;<B><I>Optional Shares</I></B>&rdquo;). The Firm
Shares and the Optional Shares are hereinafter collectively referred to as the &ldquo;<B><I>Shares</I></B>&rdquo;. Cowen and
Company, LLC (&ldquo;<B><I>Cowen</I></B>&rdquo;) is acting as representative of the several Underwriters and in such
capacity is hereinafter referred to as the &ldquo;<B><I>Representative</I></B>.&rdquo;</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in"><FONT STYLE="font-variant: small-caps; text-transform: uppercase">2.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><FONT STYLE="font-variant: small-caps"><I>Representations
and Warranties </I></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in"><FONT STYLE="font-variant: small-caps; text-transform: uppercase"><I>&nbsp;</I></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 22.5pt; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">(i)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><FONT STYLE="font-variant: small-caps">Representations
and Warranties of the Company</FONT>. The Company represents and warrants to the several Underwriters, as of the date hereof and
as of each Closing Date (as defined below), and agrees with the several Underwriters, that:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 22.5pt; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-variant: small-caps; text-transform: uppercase"><I>&nbsp;</I></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0in"><FONT STYLE="font-size: 10pt">(a)&nbsp;&nbsp;<U>Registration
Statement</U>. A registration statement of the Company on Form F-3 (File No. 333-19743) (including all amendments thereto, the
&ldquo;<B><I>Initial Registration Statement</I></B>&rdquo;) in respect of the Shares has been filed with the Securities and Exchange
Commission (the &ldquo;<B><I>Commission</I></B>&rdquo;) pursuant to Rule 415 under the Securities Act of 1933, as amended (the
&ldquo;<B><I>Securities Act</I></B>&rdquo;). The Company meets the requirements for use of Form F-3 under the Securities Act of
1933, as amended (the &ldquo;<B><I>Securities Act</I></B>&rdquo;), and the rules and regulations of the Commission thereunder
(the &ldquo;<B><I>Rules and Regulations</I></B>&rdquo;). The Initial Registration Statement and any post-effective amendment thereto,
each in the form heretofore delivered to you, and, excluding exhibits thereto, to you for each of the other Underwriters, have
been declared effective by the Commission in such form and meet the requirements of the Securities Act and the Rules and Regulations.
The proposed offering of the Shares may be made pursuant to General Instruction I.B.1 of Form F-3. Other than (i) the Initial
Registration Statement, (ii) a registration statement, if any, increasing the size of the offering filed pursuant to Rule 462(b)
under the Securities Act and the Rules and Regulations (a &ldquo;<B><I>Rule 462(b) Registration Statement</I></B>&rdquo;), (iii)
any Preliminary Prospectus (as defined below), (iv) the Prospectus (as defined below) contemplated by this Agreement to be filed
pursuant to Rule 424(b) of the Rules and Regulations in accordance with Section 4(i)(a) hereof and (v) any Issuer Free Writing
Prospectus (as defined below), no other document with respect to the offer and sale of the Shares has heretofore been filed with
the Commission. No stop order suspending the effectiveness of the Initial Registration Statement, any post-effective amendment
thereto or the Rule 462(b) Registration Statement, if any, has been issued and no proceeding for that purpose or pursuant to Section
8A of the Securities Act has been initiated or threatened by the Commission (any preliminary prospectus included in the Initial
Registration Statement or filed with the Commission pursuant to Rule 424 of the Rules and Regulations is hereinafter called a
&ldquo;<B><I>Preliminary Prospectus</I></B>&rdquo;). The Initial Registration Statement including all exhibits thereto and including
the information contained in the Prospectus filed with the Commission pursuant to Rule 424(b) of the Rules and Regulations and
deemed by virtue of Rules 430A, 430B and 430C under the Securities Act to be part of the Initial Registration Statement at the
time it became effective is hereinafter collectively called the &ldquo;<B><I>Registration Statement</I></B>.&rdquo; If the Company
has filed a Rule 462(b) Registration Statement, then any reference herein to the term &ldquo;Registration Statement&rdquo; shall
be deemed to include such Rule 462 Registration Statement. The base prospectus included in the Initial Registration Statement
at the time of effectiveness thereof (the &ldquo;<B><I>Base Prospectus</I></B>&rdquo;), as supplemented by the final prospectus
supplement relating to the offer and sale of the Shares, in the form filed pursuant to and within the time limits described in
Rule&nbsp;424(b) under the Rules and Regulations, is hereinafter called the &ldquo;<B><I>Prospectus</I></B>.&rdquo; </FONT></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">Any reference
herein to the Registration Statement, Base Prospectus, Preliminary Prospectus or the Prospectus shall be deemed to refer to and
include the documents incorporated by reference therein. Any reference to any amendment or supplement to any Preliminary Prospectus
or the Prospectus shall be deemed to refer to and include any documents filed after the date of such Preliminary Prospectus or
the Prospectus under the Securities Exchange Act of 1934, as amended (the &ldquo;<B><I>Exchange Act</I></B>&rdquo;), and incorporated
by reference in such Preliminary Prospectus or Prospectus, as the case may be. Any reference to (i) the Registration Statement
shall be deemed to refer to and include the annual report of the last completed fiscal year of the Company on Form 20-F filed under
Section 13(a) or 15(d) of the Exchange Act prior to the date hereof and (ii) the effective date of such Registration Statement
shall be deemed to refer to and include the date such Registration Statement became effective and, if later, the date such Form
20-F was so filed. Any reference to any amendment to the Registration Statement shall be deemed to refer to and include any annual
report of the Company filed pursuant to Section 13(a) or 15(d) of the Exchange Act after the date of this Agreement that is incorporated
by reference in the Registration Statement.</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">(b)&nbsp;&nbsp;<FONT STYLE="font-size: 10pt"><U>General
Disclosure Package</U>. As of the Applicable Time (as defined below) and as of the Closing Date or the Option Closing Date (as
defined below), as the case may be, none of (i) the General Use Free Writing Prospectus (as defined below) issued at or prior to
the Applicable Time, the Pricing Prospectus (as defined below) and the information included on <U>Schedule C</U> hereto, if any,
all considered together (collectively, the &ldquo;<B><I>General Disclosure Package</I></B>&rdquo;), (ii) any individual Limited
Use Free Writing Prospectus (as defined below), or (iii) any bona fide electronic roadshow (as defined in Rule 433(h)(5) of the
Rules and Regulations), when considered together with the General Disclosure Package, included or will include any untrue statement
of a material fact or omitted or will omit to state a material fact necessary in order to make the statements therein, in the light
of the circumstances under which they were made, not misleading; <I>provided, however</I>, that the Company makes no representations
or warranties as to information contained in or omitted from the Pricing Prospectus or any Issuer Free Writing Prospectus (as defined
below), in reliance upon, and in conformity with, written information furnished to the Company through the Representative by or
on behalf of any Underwriter specifically for inclusion therein, which information the parties hereto agree is limited to the Underwriter&rsquo;s
Information (as defined in Section 17). As used in this paragraph (b) and elsewhere in this Agreement:</FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&ldquo;<B><I>Applicable
Time</I></B>&rdquo; means 7:30 A.M., New York time, on the date of this Agreement or such other time as agreed to by the
Company and the Representative.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&ldquo;<B><I>Pricing Prospectus</I></B>&rdquo;
means the Preliminary Prospectus, if any, and the Base Prospectus, each as amended and supplemented immediately prior to the Applicable
Time, including any document incorporated by reference therein and any prospectus supplement deemed to be a part thereof.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&ldquo;<B><I>Issuer Free Writing
Prospectus</I></B>&rdquo; means any &ldquo;issuer free writing prospectus,&rdquo; as defined in Rule 433 of the Rules and Regulations
relating to the Shares in the form filed or required to be filed with the Commission or, if not required to be filed, in the form
retained in the Company&rsquo;s records pursuant to Rule 433(g) of the Rules and Regulations.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&ldquo;<B><I>General Use Free
Writing Prospectus</I></B>&rdquo; means any Issuer Free Writing Prospectus that is identified on <U>Schedule B</U> to this Agreement.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&ldquo;<B><I>Limited Use Free
Writing Prospectuses</I></B>&rdquo; means any Issuer Free Writing Prospectus that is not a General Use Free Writing Prospectus.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0in">(c)&nbsp;&nbsp;<FONT STYLE="font-size: 10pt"><U>No
Stop Orders; No Material Misstatements</U>. No order preventing or suspending the use of any Preliminary Prospectus, any Issuer
Free Writing Prospectus or the Prospectus relating to the proposed offering of the Shares has been issued by the Commission, and
no proceeding for that purpose or pursuant to Section 8A of the Securities Act has been instituted or threatened by the Commission,
and each Preliminary Prospectus, at the time of filing thereof, conformed in all material respects to the requirements of the Securities
Act and the Rules and Regulations, and did not contain an untrue statement of a material fact or omit to state a material fact
required to be stated therein or necessary to make the statements therein, in the light of the circumstances under which they were
made, not misleading; <I>provided, however</I>, that the Company makes no representations or warranties as to information contained
in or omitted from any Preliminary Prospectus, in reliance upon, and in conformity with, written information furnished to the Company
through the Representative by or on behalf of any Underwriter specifically for inclusion therein, which information the parties
hereto agree is limited to the Underwriter&rsquo;s Information. </FONT></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">(d)&nbsp;&nbsp;<FONT STYLE="font-size: 10pt"><U>Registration
Statement and Prospectus Contents</U>. At the respective times the Registration Statement and any amendments thereto became or
become effective as to the Underwriters and at each Closing Date, the Registration Statement and any amendments thereto conformed
and will conform in all material respects to the requirements of the Securities Act and the Rules and Regulations and did not and
will not contain any untrue statement of a material fact or omit to state any material fact required to be stated therein or necessary
to make the statements therein not misleading; and the Prospectus and any amendments or supplements thereto, at the time the Prospectus
or any amendment or supplement thereto was issued and at each Closing Date, conformed and will conform in all material respects
to the requirements of the Securities Act and the Rules and Regulations and did not and will not contain an untrue statement of
a material fact or omit to state a material fact necessary in order to make the statements therein, in light of the circumstances
under which they were made, not misleading;<I> provided</I>, <I>however</I>, that the foregoing representations and warranties
in this paragraph (d) shall not apply to information contained in or omitted from the Registration Statement or the Prospectus,
or any amendment or supplement thereto, in reliance upon, and in conformity with, written information furnished to the Company
through the Representative by or on behalf of any Underwriter specifically for inclusion therein, which information the parties
hereto agree is limited to the Underwriter&rsquo;s Information. </FONT></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">(e)&nbsp;&nbsp;<FONT STYLE="font-size: 10pt"><U>Issuer
Free Writing Prospectus</U>. Each Issuer Free Writing Prospectus, as of its issue date and at all subsequent times through the
completion of the public offer and sale of the Shares or until any earlier date that the Company notified or notifies the Representative
as described in Section 4(i)(f), did not, does not and will not include any information that conflicted, conflicts or will conflict
with the information contained in the Registration Statement, Pricing Prospectus or the Prospectus, including any document incorporated
by reference therein and any prospectus supplement deemed to be a part thereof that has not been superseded or modified, or included
or would include an untrue statement of a material fact or omitted or would omit to state a material fact required to be stated
therein or necessary in order to make the statements therein, in the light of the circumstances under which they were made, not
misleading<I> provided</I>, <I>however</I>, that the foregoing representations and warranties in this paragraph (e) shall not apply
to information contained in or omitted from the Registration Statement or the Prospectus, or any amendment or supplement thereto,
in reliance upon, and in conformity with, written information furnished to the Company through the Representative by or on behalf
of any Underwriter specifically for inclusion therein, which information the parties hereto agree is limited to the Underwriter&rsquo;s
Information. </FONT></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">(f)&nbsp;&nbsp;<FONT STYLE="font-size: 10pt"><U>Documents
Incorporated by Reference.</U><I> </I>The documents incorporated by reference in the Prospectus, when they became effective or
were filed with the Commission, as the case may be, conformed in all material respects to the requirements of the Securities Act
or the Exchange Act, as applicable, and the rules and regulations of the Commission thereunder and none of such documents contained
any untrue statement of a material fact or omitted to state any material fact required to be stated therein, or necessary to make
the statements therein, in the light of the circumstances under which they were made, not misleading; and any further documents
so filed and incorporated by reference in the Prospectus, when such documents are filed with Commission will conform in all material
respects to the requirements of the Securities Act or the Exchange Act, as applicable, and the rules and regulations of the Commission
thereunder and will not contain any untrue statement of a material fact or omit to state any material fact required to be stated
therein or necessary to make the statements therein, in the light of the circumstances under which they were made, not misleading.
All exhibits, including but not limited to, material contracts, required to be filed by the Company under the Securities Act or
the Exchange Act have been timely filed with the Commission and are incorporated by reference into the Prospectus. </FONT></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">(g)&nbsp;&nbsp;<FONT STYLE="font-size: 10pt"><U>Distribution
of Offering Materials</U>. The Company has not, directly or indirectly, distributed and will not distribute any offering material
in connection with the offering and sale of the Shares other than any Preliminary Prospectus, the Prospectus and other materials,
if any, permitted under the Securities Act and consistent with Section 4(i)(b) below. The Company will file with the Commission
all Issuer Free Writing Prospectuses (other than a &ldquo;road show&rdquo; as described in Rule 433(d)(8) of the Rules and Regulations)
in the time and manner required under Rules 163(b)(2) and 433(d) of the Rules and Regulations. </FONT></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">(h)&nbsp;&nbsp;<FONT STYLE="font-size: 10pt"><U>Not
an Ineligible Issuer</U>. At the time of filing the Initial Registration Statement, any Rule 462(b) Registration Statement and
any post-effective amendments thereto, and at the date hereof, the Company was not, and the Company currently is not and as of
each Closing Date shall not be, an &ldquo;ineligible issuer,&rdquo; as defined in Rule 405 of the Rules and Regulations. </FONT></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">(i)&nbsp;&nbsp;<FONT STYLE="font-size: 10pt"><U>Organization
and Good Standing</U>. The Company and each of its subsidiaries (as defined in Section 15) have been duly organized and are validly
existing as corporations or other legal entities in good standing (or the foreign equivalent thereof) under the laws of their respective
jurisdictions of organization. The Company and each of its subsidiaries are duly qualified to do business and are in good standing
as foreign corporations or other legal entities in each jurisdiction in which their respective ownership or lease of property or
the conduct of their respective businesses requires such qualification and have all power and authority (corporate or other) necessary
to own or hold their respective properties and to conduct the businesses in which they are engaged, except where the failure to
so qualify or have such power or authority would not (i) have, singularly or in the aggregate, a material adverse effect on the
business, properties, management, financial position, shareholders&rsquo; equity, results of operations or prospects of the Company
and its subsidiaries taken as a whole, or (ii) impair in any material respect the ability of the Company to perform its obligations
under this Agreement or to consummate any transactions contemplated by this Agreement, the General Disclosure Package or the Prospectus
(any such effect as described in clauses (i) or (ii), a &ldquo;<B><I>Material Adverse Effect</I></B>&rdquo;). The Company is not
designated as a &ldquo;breaching company&rdquo; (within the meaning of the Israeli Companies Law 5759-1999 by the Registrar of
Companies of the State of Israel, nor has a proceeding been instituted by the Registrar of Companies in Israel for the dissolution
of the Company. The Company does not own or control, directly or indirectly, any corporation, association or other entity other
than the subsidiaries listed in Exhibit 8.1 to the Company&rsquo;s annual report on Form 20-F for the year ended December 31, 2014.
</FONT></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">(j)&nbsp;&nbsp;<FONT STYLE="font-size: 10pt"><U>Underwriting
Agreement</U>. This Agreement has been duly authorized, executed and delivered by the Company.</FONT></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">(k)&nbsp;&nbsp;<FONT STYLE="font-size: 10pt"><U>The
Shares</U>. The Shares to be issued and sold by the Company to the Underwriters hereunder has been duly and validly authorized
and, when issued and delivered against payment therefor as provided herein, will be duly and validly issued, fully paid and non-assessable
and will conform to the descriptions thereof in the Registration Statement, the General Disclosure Package and the Prospectus;
and the issuance of the Shares is not subject to any preemptive or similar rights.</FONT></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">(l)&nbsp;&nbsp;<FONT STYLE="font-size: 10pt"><U>Capitalization</U>.
The Company has an authorized capitalization as set forth under the heading &ldquo;History and Development of the Company&rdquo;
in the Pricing Prospectus, and all of the issued shares of capital stock of the Company have been duly and validly authorized and
issued, are fully paid and non-assessable, have been issued in compliance with Israeli law and, where applicable, U.S. federal
and state securities laws, and conform to the description thereof contained in the General Disclosure Package and the Prospectus.
All of the Company&rsquo;s options, warrants and other rights to purchase or exchange any securities for shares of the Company&rsquo;s
capital stock have been duly authorized and validly issued and were issued in compliance with Israeli law and applicable U.S. federal
and state securities laws. None of the outstanding Ordinary Shares was issued in violation of any preemptive rights, rights of
first refusal or other similar rights to subscribe for or purchase securities of the Company. As of the date set forth in the General
Disclosure Package, there were no authorized or outstanding shares of capital stock, options, warrants, preemptive rights, rights
of first refusal or other rights to purchase, or equity or debt securities convertible into or exchangeable or exercisable for,
any capital stock of the Company or any of its subsidiaries other than those described above or accurately described in the General
Disclosure Package. Since such date, the Company has not issued any securities other than Ordinary Shares issued pursuant to the
exercise of warrants or upon the exercise of options or other awards outstanding under the Company&rsquo;s stock option plans,
options or other securities granted or issued pursuant to the Company&rsquo;s existing equity compensation plans or other plans,
and the issuance of Ordinary Shares pursuant to employee stock purchase plans. The description of the Company&rsquo;s stock option,
stock bonus and other stock plans or arrangements, and the options or other rights granted thereunder, as described in the General
Disclosure Package and the Prospectus, accurately and fairly present the information required to be shown with respect to such
plans, arrangements, options and rights.</FONT></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">(m)&nbsp;&nbsp;<FONT STYLE="font-size: 10pt"><U>Capitalization
of Subsidiaries</U>. All of the outstanding shares of capital stock of each subsidiary of the Company have been duly authorized
and validly issued, are fully paid and nonassessable and, except to the extent set forth in the General Disclosure Package or the
Prospectus, are owned by the Company directly or indirectly through one or more wholly-owned subsidiaries, free and clear of any
claim, lien, encumbrance, security interest, restriction upon voting or transfer or any other claim of any third party.</FONT></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">(n)&nbsp;&nbsp;<FONT STYLE="font-size: 10pt"><U>No
Conflicts</U>. The execution, delivery and performance of this Agreement by the Company, the issue and sale of the Shares by the
Company, and the consummation of the transactions contemplated hereby will not (with or without notice or lapse of time or both)
(i) conflict with or result in a breach or violation of any of the terms or provisions of, constitute a default or a Debt Repayment
Triggering Event (as defined below) under, or result in the creation or imposition of any lien, encumbrance, security interest,
claim or charge upon any property or assets of the Company or any subsidiary pursuant to, any indenture, mortgage, deed of trust,
loan agreement or other agreement or instrument to which the Company or any of its subsidiaries is a party or by which the Company
or any of its subsidiaries is bound or to which any of the property or assets of the Company or any of its subsidiaries is subject,
(ii) result in any violation of the provisions of the charter or by-laws (or analogous governing instruments, as applicable) of
the Company or any of its subsidiaries, or (iii) result in the violation of any law, statute, rule, regulation, judgment, order
or decree of any court or governmental or regulatory agency or body, domestic or foreign, having jurisdiction over the Company
or any of its subsidiaries or any of their properties or assets except, in the case of clauses (i) and (iii) above, for any such
conflict, breach, violation or default that would not, individually or in the aggregate, have a Material Adverse Effect. A &ldquo;<B><I>Debt
Repayment Triggering Event</I></B>&rdquo; means any event or condition that gives, or with the giving of notice or lapse of time
would give the holder of any note, debenture or other evidence of indebtedness (or any person acting on such holder&rsquo;s behalf)
the right to require the repurchase, redemption or repayment of all or a portion of such indebtedness by the Company of any of
its subsidiaries.</FONT></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">(o)&nbsp;&nbsp;<FONT STYLE="font-size: 10pt"><U>No
Consents Required</U>. Except for the registration of the Shares under the Securities Act and applicable state securities laws,
and such consents, approvals, authorizations, orders and registrations or qualifications as may be required by the Financial Industry
Regulatory Authority (&ldquo;<B><I>FINRA</I></B>&rdquo;) and the NASDAQ Capital Market in connection with the purchase and distribution
of the Shares by the Underwriters and the listing of the Shares on the NASDAQ Capital Market, no consent, approval, authorization
or order of, or filing, qualification or registration (each an &ldquo;<B><I>Authorization</I></B>&rdquo;) with, any court, governmental
or regulatory agency or body, foreign or domestic, which has not been made, obtained or taken and is not in full force and effect,
is required for the execution, delivery and performance of this Agreement by the Company, the issuance and sale of the Shares or
the consummation of the transactions contemplated hereby; and no event has occurred that allows or results in, or after notice
or lapse of time or both would allow or result in, revocation, suspension, termination or invalidation of any such Authorization
or any other impairment of the rights of the holder or maker of any such Authorization. </FONT></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">(p)&nbsp;&nbsp;<FONT STYLE="font-size: 10pt"><U>Independent
Auditors</U>. Deloitte/Brightman Almagor Zohar &amp; Co., who have certified certain financial statements and related schedules
of the Company and its subsidiaries included or incorporated by reference in the Registration Statement, the General Disclosure
Package and the Prospectus, and have audited the Company&rsquo;s internal control over financial reporting and management&rsquo;s
assessment thereof, is an independent registered public accounting firm with respect to the Company and its subsidiaries within
the meaning of Article 2-01 of Regulation S-X and the Public Company Accounting Oversight Board (United States) (the &ldquo;<B><I>PCAOB</I></B>&rdquo;).
</FONT></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">(q)&nbsp;&nbsp;<FONT STYLE="font-size: 10pt"><U>Financial
Statements</U>. The financial statements, together with the related notes and schedules, included or incorporated by reference
in the General Disclosure Package, the Prospectus and in the Registration Statement fairly present the financial position and the
results of operations and changes in financial position of the Company and its consolidated subsidiaries and other consolidated
entities at the respective dates or for the respective periods therein specified. Such statements and related notes and schedules
have been prepared in accordance with the generally accepted accounting principles in the United States (&ldquo;<B><I>GAAP</I></B>&rdquo;)
applied on a consistent basis throughout the periods involved except as may be set forth in the related notes included or incorporated
by reference in the General Disclosure Package. The financial statements, together with the related notes and schedules, included
or incorporated by reference in the General Disclosure Package and the Prospectus, comply in all material respects with Regulation
S-X. No other financial statements or supporting schedules or exhibits are required by Regulation S-X to be described, included
or incorporated by reference in the Registration Statement, the General Disclosure Package or the Prospectus. The interim financial
statements for the quarter ended March 31, 2015 and filed with the Commission on Form 6-K on June 1, 2015 (the &ldquo;<B><I>Interim
Financial Statements</I></B>&rdquo;) and incorporated by reference into the Registration Statement and Prospectus (i)&nbsp;were
prepared in accordance with the books of account and other financial records of the Company and the subsidiaries, (ii)&nbsp;present
fairly in all material respects the consolidated financial condition and results of operations of the Company and the subsidiaries
as of the dates thereof or for the periods covered thereby, (iii)&nbsp;have been prepared in accordance with GAAP applied on a
basis consistent with the past practices of the Company and the subsidiaries, and<FONT STYLE="color: red"> </FONT>(iv) include
all adjustments (consisting only of normal recurring accruals) that are necessary for a fair presentation of the consolidated financial
condition of the Company and the Subsidiaries and the results of the operations of the Company and the Subsidiaries as of the dates
thereof or for the periods covered thereby. The summary and selected financial data included or incorporated by reference in the
General Disclosure Package, the Prospectus and the Registration Statement fairly present the information shown therein as at the
respective dates and for the respective periods specified and are derived from the consolidated financial statements set forth
or incorporated by reference in the Registration Statement, the Pricing Prospectus and the Prospectus and other financial information.
All information contained in the Registration Statement, the General Disclosure Package and the Prospectus regarding &ldquo;non-GAAP
financial measures&rdquo; (as defined in Regulation G) complies with Regulation G and Item 10 of Regulation S-K, to the extent
applicable.</FONT></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">(r)&nbsp;&nbsp;<FONT STYLE="font-size: 10pt"><U>eXtensible
Business Reporting Language</U>. The interactive data in eXtensible Business Reporting Language included or incorporated by reference
in the Registration Statement fairly presents the information called for in all material respects and has been prepared in accordance
with the Commission&rsquo;s rules and guidelines applicable thereto.</FONT></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">(s)&nbsp;&nbsp;<FONT STYLE="font-size: 10pt"><U>No
Material Adverse Change</U>. Neither the Company nor any of its subsidiaries has sustained, since the date of the latest audited
financial statements included or incorporated by reference in the General Disclosure Package, (i) any material loss or interference
with its business from fire, explosion, flood or other calamity, whether or not covered by insurance, or from any labor dispute
or action, order or decree of any court or governmental or regulatory authority, otherwise than as set forth or contemplated in
the General Disclosure Package; (ii) any change in the capital stock (other than the issuance of Ordinary Shares upon exercise
of stock options and warrants described as outstanding in, and the grant of options and awards under existing equity incentive
plans described in, the Registration statement, the General Disclosure Package and the Prospectus) or long-term debt of the Company
or any of its subsidiaries, or any dividend or distribution of any kind declared, set aside for payment, paid or made by the Company
on any class of capital stock, or any material adverse changes, or any development involving a prospective material adverse change,
in or affecting the business, properties, assets, general affairs, management, financial position, prospects, shareholders&rsquo;
equity or results of operations of the Company and its subsidiaries taken as a whole, otherwise than as set forth or contemplated
in the General Disclosure Package. </FONT></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">(t)&nbsp;&nbsp;<FONT STYLE="font-size: 10pt"><U>Legal
Proceedings</U>. Except as set forth in the General Disclosure Package, there is no legal or governmental proceeding pending to
which the Company or any of its subsidiaries is a party or of which any property or assets of the Company or any of its subsidiaries
is the subject that is required to be described in the Registration Statement, the General Disclosure Package or the Prospectus
or a document incorporated by reference therein and is not described therein, or which, singularly or in the aggregate, if determined
adversely to the Company or any of its subsidiaries, could reasonably be expected to have a Material Adverse Effect; and no such
proceedings are threatened or, to the Company&rsquo;s knowledge after reasonable investigation and due diligence inquiry (&ldquo;<B><I>Knowledge</I></B>&rdquo;),
contemplated by governmental or regulatory authorities or threatened by others.</FONT></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">(u)&nbsp;&nbsp;<FONT STYLE="font-size: 10pt"><U>No
Violation or Default</U>. Neither the Company nor any of its subsidiaries is (i) in violation of its charter or by-laws (or analogous
governing instrument, as applicable), (ii) in default in any respect, and no event has occurred which, with notice or lapse of
time or both, would constitute such a default, in the due performance or observance of any term, covenant or condition contained
in any indenture, mortgage, deed of trust, loan agreement, lease or other agreement or instrument to which it is a party or by
which it is bound or to which any of its property or assets is subject, or (iii) in violation in any respect of any law, ordinance,
governmental rule, regulation or court order, decree or judgment to which it or its property or assets may be subject except, in
the case of clauses (ii) and (iii) above, for any such violation or default that would not, singularly or in the aggregate, have
a Material Adverse Effect. </FONT></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">(v)&nbsp;&nbsp;<FONT STYLE="font-size: 10pt"><U>Licenses
or Permits</U>. The Company and each of its subsidiaries possess all licenses, certificates, authorizations and permits issued
by, and have made all declarations and filings with, the appropriate local, state, federal or foreign governmental or regulatory
agencies or bodies that are necessary for the ownership or lease of their respective properties or the conduct of their respective
businesses as described in the General Disclosure Package and the Prospectus (collectively, the &ldquo;<B><I>Governmental Permits</I></B>&rdquo;),
except where any failures to possess or make the same would not, singularly or in the aggregate, have a Material Adverse Effect.
The Company and its subsidiaries are in compliance with all such Governmental Permits; all such Governmental Permits are valid
and in full force and effect, except where the validity or failure to be in full force and effect would not, singularly or in the
aggregate, have a Material Adverse Effect. Neither the Company nor any subsidiary has received notification of any revocation,
modification, suspension, termination or invalidation (or proceedings related thereto) of any such Governmental Permit and the
Company has no reason to believe that any such Governmental Permit will not be renewed.</FONT></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">(w)&nbsp;&nbsp;<FONT STYLE="font-size: 10pt"><U>Investment
Company Act</U>. Neither the Company nor any of its subsidiaries is or, after giving effect to the offering of the Shares and the
application of the proceeds thereof as described in the General Disclosure Package and the Prospectus, will be required to register
as an &ldquo;investment company&rdquo; or an entity &ldquo;controlled&rdquo; by an &ldquo;investment company&rdquo; within the
meaning of the Investment Company Act of 1940, as amended, and the rules and regulations of the Commission thereunder. </FONT></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">(x)&nbsp;&nbsp;<FONT STYLE="font-size: 10pt">
<U>No Stabilization</U>. Neither the Company nor, to the Company&rsquo;s Knowledge, any of its officers, directors or affiliates
has taken or will take, directly or indirectly, any action designed or intended to stabilize or manipulate the price of any security
of the Company, or which caused or resulted in, or which might in the future reasonably be expected to cause or result in, stabilization
or manipulation of the price of any security of the Company. </FONT></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">(y)&nbsp;&nbsp;<FONT STYLE="font-size: 10pt">
<U>Intellectual Property</U>. The Company and its subsidiaries own or possess the valid right to use all (i) valid and enforceable
patents, patent applications, trademarks, trademark registrations, service marks, service mark registrations, Internet domain name
registrations, copyrights, copyright registrations, licenses, trade secret rights (&ldquo;<B><I>Intellectual Property Rights</I></B>&rdquo;)
and (ii) inventions, software, works of authorships, trademarks, service marks, trade names, databases, formulae, know how, Internet
domain names and other intellectual property (including trade secrets and other unpatented and/or unpatentable proprietary confidential
information, systems, or procedures) (collectively, &quot;<B><I>Intellectual Property Assets</I></B>&quot;) necessary to conduct
their respective businesses as currently conducted, and as proposed to be conducted and described in the General Disclosure Package
and the Prospectus. The Company and its subsidiaries have not received any opinion from their legal counsel concluding that any
activities of their respective businesses infringe, misappropriate, or otherwise violate, valid and enforceable Intellectual Property
Rights of any other person, and have not received written notice of any challenge, which is to their Knowledge still pending, by
any other person to the rights of the Company and its subsidiaries with respect to any Intellectual Property Rights or Intellectual
Property Assets owned or used by the Company or its subsidiaries. To the Company&rsquo;s Knowledge, the Company and its subsidiaries&rsquo;
respective businesses as now conducted do not give rise to any infringement of, any misappropriation of, or other violation of,
any valid and enforceable Intellectual Property Rights of any other person. All licenses for the use of the Intellectual Property
Rights described in the General Disclosure Package and the Prospectus are valid, binding upon, and enforceable by or against the
parties thereto in accordance with their terms. The Company has complied in all material respects with, and is not in breach nor
has received any asserted or threatened claim of breach of any Intellectual Property license, and the Company has no knowledge
of any breach or anticipated breach by any other person to any Intellectual Property license. Except as described in the General
Disclosure Package, no claim has been made against the Company alleging the infringement by the Company of any patent, trademark,
service mark, trade name, copyright, trade secret, license in or other intellectual property right or franchise right of any person.
The Company has taken all reasonable steps to protect, maintain and safeguard its Intellectual Property Rights, including the execution
of appropriate nondisclosure and confidentiality agreements. The consummation of the transactions contemplated by this Agreement
will not result in the loss or impairment of or payment of any additional amounts with respect to, nor require the consent of any
other person in respect of, the Company's right to own, use, or hold for use any of the Intellectual Property Rights as owned,
used or held for use in the conduct of the business as currently conducted. With respect to the use of the software in the Company's
business as it is currently conducted, the Company has not experienced any material defects in such software including any material
error or omission in the processing of any transactions other than defects which have been corrected, and to the Company&rsquo;s
Knowledge, no such software contains any device or feature designed to disrupt, disable, or otherwise impair the functioning of
any software or is subject to the terms of any &quot;open source&quot; or other similar license that provides for the source code
of the software to be publicly distributed or dedicated to the public. The Company has at all times complied with all applicable
laws relating to privacy, data protection, and the collection and use of personal information collected, used, or held for use
by the Company in the conduct of the Company's business. No claims have been asserted or threatened against the Company alleging
a violation of any person's privacy or personal information or data rights and the consummation of the transactions contemplated
hereby will not breach or otherwise cause any violation of any law related to privacy, data protection, or the collection and use
of personal information collected, used, or held for use by the Company in the conduct of the Company's business. The Company takes
reasonable measures to ensure that such information is protected against unauthorized access, use, modification, cyber-security
breaches, or other misuse. The Company has taken all necessary actions to obtain ownership of all works of authorship and inventions
made by its employees, consultants and contractors during the time they were employed by or under contract with the Company and
which relate to the Company&rsquo;s business.</FONT></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">(z)&nbsp;&nbsp;<FONT STYLE="font-size: 10pt"><U>Title
to Real and Personal Property</U>. The Company and each of its subsidiaries have good and marketable title in and (in the case
of real property) to, or have valid and marketable rights to lease or otherwise use, all items of real or personal property which
are material to the business of the Company and its subsidiaries taken as a whole, in each case free and clear of all liens, encumbrances,
security interests, claims and defects that (i) do not, singularly or in the aggregate, materially affect the value of such property
and do not materially interfere with the use made and proposed to be made of such property by the Company or any of its subsidiaries
or (ii) could not reasonably be expected, singularly or in the aggregate, to have a Material Adverse Effect.</FONT></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">(aa)&nbsp;&nbsp;<FONT STYLE="font-size: 10pt"><U>No
Labor Dispute</U>. There is (A) no significant unfair labor practice complaint pending against the Company, or any of its subsidiaries,
nor to the Company&rsquo;s Knowledge, threatened against it or any of its subsidiaries, before the National Labor Relations Board,
any state or local labor relations board or any foreign labor relations board, and no significant grievance or significant arbitration
proceeding arising out of or under any collective bargaining agreement is so pending against the Company or any of its subsidiaries,
or, to the Company&rsquo;s Knowledge, threatened against it and (B) no labor disturbance by or dispute with, employees of the
Company or any of its subsidiaries exists or, to the Company&rsquo;s Knowledge, is contemplated or threatened, and the Company
is not aware of any existing or imminent labor disturbance by the employees of any of its or its subsidiaries&rsquo; principal
suppliers, manufacturers, customers or contractors, that could reasonably be expected, singularly or in the aggregate, to have
a Material Adverse Effect. The Company is not aware that any key employee or significant group of employees of the Company or
any subsidiary plans to terminate employment with the Company or any such subsidiary.</FONT></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">(bb)&nbsp;&nbsp;<FONT STYLE="font-size: 10pt"><U>Compliance
with ERISA</U>. No &ldquo;prohibited transaction&rdquo; (as defined in Section 406 of the Employee Retirement Income Security
Act of 1974, as amended, including the regulations and published interpretations thereunder (&ldquo;<B><I>ERISA</I></B>&rdquo;),
or Section 4975 of the Internal Revenue Code of 1986, as amended from time to time (the &ldquo;<B><I>Code</I></B>&rdquo;)) or
&ldquo;accumulated funding deficiency&rdquo; (as defined in Section 302 of ERISA) or any of the events set forth in Section 4043(b)
of ERISA (other than events with respect to which the thirty (30)-day notice requirement under Section 4043 of ERISA has been
waived) has occurred or could reasonably be expected to occur with respect to any employee benefit plan of the Company or any
of its subsidiaries which could, singularly or in the aggregate, have a Material Adverse Effect. Each employee benefit plan of
the Company or any of its subsidiaries is in compliance in all material respects with applicable law, including ERISA and the
Code. The Company and its subsidiaries have not incurred and could not reasonably be expected to incur liability under Title IV
of ERISA with respect to the termination of, or withdrawal from, any pension plan (as defined in ERISA). Each pension plan for
which the Company or any of its subsidiaries would have any liability that is intended to be qualified under Section 401(a) of
the Code is so qualified, and nothing has occurred, whether by action or by failure to act, which could, singularly or in the
aggregate, cause the loss of such qualification. </FONT></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">(cc)&nbsp;&nbsp;<FONT STYLE="font-size: 10pt"><U>Environmental
Laws and Hazardous Materials</U>. The Company and its subsidiaries are in compliance with all foreign, federal, state and local
rules, laws and regulations relating to the use, treatment, storage and disposal of hazardous or toxic substances or waste and
protection of health and safety or the environment which are applicable to their businesses (&ldquo;<B><I>Environmental Laws</I></B>&rdquo;).
There has been no storage, generation, transportation, handling, treatment, disposal, discharge, emission, or other release of
any kind of toxic or other wastes or other hazardous substances by, due to, or caused by the Company or any of its subsidiaries
(or, to the Company&rsquo;s Knowledge, any other entity for whose acts or omissions the Company or any of its subsidiaries is or
may otherwise be liable) upon any of the property now or previously owned or leased by the Company or any of its subsidiaries,
or upon any other property, in violation of any law, statute, ordinance, rule, regulation, order, judgment, decree or permit or
which would, under any law, statute, ordinance, rule (including rule of common law), regulation, order, judgment, decree or permit,
give rise to any liability; and there has been no disposal, discharge, emission or other release of any kind onto such property
or into the environment surrounding such property of any toxic or other wastes or other hazardous substances with respect to which
the Company or any of its subsidiaries has knowledge. </FONT></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">(dd)&nbsp;&nbsp;<FONT STYLE="font-size: 10pt"><U>Taxes</U>.
The Company and its subsidiaries each (i) have timely filed all necessary federal, state, local and foreign tax returns, and all
such returns were true, complete and correct, (ii) have paid all federal, state, local and foreign taxes, for which it is liable,
including, without limitation, all sales and use taxes and all taxes which the Company or any of its subsidiaries is obligated
to withhold from amounts owing to employees, creditors and third parties, and (iii) do not have any tax deficiency or claims outstanding
or assessed or, to its Knowledge, proposed against any of them, except those, in each of the cases described in clauses (i), (ii)
and (iii) above, that would not, singularly or in the aggregate, have a Material Adverse Effect. </FONT></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">(ee)&nbsp;&nbsp;<FONT STYLE="font-size: 10pt"><U>Insurance</U>.
The Company and each of its subsidiaries carry, or are covered by, insurance in such amounts and covering such risks as is adequate
for the conduct of their respective businesses and the value of their respective properties. Neither the Company nor any of its
subsidiaries has any reason to believe that it will not be able to renew its existing insurance coverage as and when such coverage
expires or to obtain similar coverage from similar insurers as may be necessary to continue its business at a cost that would
not have a Material Adverse Effect. Neither the Company nor any of its subsidiaries has received written notice from any insurer,
agent of such insurer or the broker of the Company or any of its subsidiaries that any material capital improvements or any other
material expenditures (other than premium payments) are required or necessary to be made in order to continue such insurance.
</FONT></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">(ff)&nbsp;&nbsp;<FONT STYLE="font-size: 10pt"><U>Accounting
Controls</U>. The Company and each of its subsidiaries maintains a system of &ldquo;internal control over financial reporting&rdquo;
(as such term is defined in Rule 13a-15(f) of the General Rules and Regulations under the Exchange Act (the &ldquo;<B><I>Exchange
Act Rules</I></B>&rdquo;)) that complies with the requirements of the Exchange Act and has been designed by their respective principal
executive and principal financial officers, or under their supervision, to provide reasonable assurances that (i) transactions
are executed in accordance with management&rsquo;s general or specific authorizations; (ii) transactions are recorded as necessary
to permit preparation of financial statements in conformity with GAAP and to maintain accountability for assets; (iii) access to
assets is permitted only in accordance with management&rsquo;s general or specific authorization; (iv) the recorded accountability
for assets is compared with existing assets at reasonable intervals and appropriate action is taken with respect to any differences
and (v) interactive data in eXtensible Business Reporting Language included or incorporated by reference in the Registration Statement
fairly presents the Commission&rsquo;s rules and guidelines applicable thereto. The Company&rsquo;s internal control over financial
reporting is effective. Except as described in the General Disclosure Package, since the end of the Company&rsquo;s most recent
audited fiscal year, there has been (A) no material weakness in the Company&rsquo;s internal control over financial reporting (whether
or not remediated) and (B) no change in the Company&rsquo;s internal control over financial reporting that has materially affected,
or is reasonably likely to materially affect, the Company&rsquo;s internal control over financial reporting. </FONT></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">(gg)&nbsp;&nbsp;<FONT STYLE="font-size: 10pt"><U>Disclosure
Controls</U>. The Company and its subsidiaries maintain disclosure controls and procedures (as such is defined in Rule 13a-15(e)
of the Exchange Act Rules) that comply with the requirements of the Exchange Act; such disclosure controls and procedures have
been designed to ensure that information required to be disclosed by the Company and its subsidiaries in reports that they file
or submit under the Exchange Act is recorded, processed, summarized and reported within the time periods specified in the Commission&rsquo;s
rules and forms, including controls and procedures designed to ensure that such information is accumulated and communicated to
the Company&rsquo;s management to allow timely decisions regarding disclosures. The Company and its subsidiaries have conducted
evaluations of the effectiveness of their disclosure controls as required by Rule 13a-15 of the Exchange Act and have found them
to be effective. </FONT></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">(hh)&nbsp;&nbsp;<FONT STYLE="font-size: 10pt">
<U>Conflict Minerals</U>. The Company is not subject to the disclosure and filing requirements of Rule 13p-1 under the Exchange
Act. The Company (i) does not manufacture, contract to manufacture, or assemble any of its products, (ii) none of its products
contain tin, tantalum, tungsten or gold (collectively, &ldquo;<B><I>3TGs</I></B>&rdquo;) that are necessary to the production or
functionality of such product, and (iii) the Company does not source, directly or indirectly (including through the use of smelters
and refiners in its supply chain), 3TGs from the Democratic Republic of Congo or adjoining countries as set forth in Rule 13p-1.</FONT></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">(ii)&nbsp;&nbsp;<FONT STYLE="font-size: 10pt">
<U>Minute Books</U>. The minute books of the Company and each of its subsidiaries that would be a &ldquo;significant subsidiary&rdquo;
within the meaning of Rule 1-02(w) of Regulation S-X (such a significant subsidiary of the Company, a &ldquo;<B><I>Significant
Subsidiary</I></B>&rdquo;) each of its subsidiaries have been made available to the Underwriters and counsel for the Underwriters,
and such books (i) contain a complete summary of all meetings and actions of the board of directors (including each board committee)
and shareholders of the Company (or analogous governing bodies and interest holders, as applicable), and each of its Significant
Subsidiaries since the time of its respective incorporation or organization through the date of the latest meeting and action,
and (ii) accurately in all material respects reflect all transactions referred to in such minutes. </FONT></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">(jj)&nbsp;&nbsp;<FONT STYLE="font-size: 10pt"><U>No
Undisclosed Relationships</U>. No relationship, direct or indirect, exists between or among the Company or any of its subsidiaries
on the one hand, and the directors, officers, shareholders (or analogous interest holders), customers or suppliers of the Company
or any of its affiliates on the other hand, which is required to be described in the General Disclosure Package and the Prospectus
or a document incorporated by reference therein and which is not so described. All transactions by the Company with &ldquo;office
holders&rdquo; (as defined in the Israeli Companies Law) or &ldquo;control persons&rdquo; of the Company, if any, have been duly
approved by the board of directors of the Company, or duly appointed committees or officers thereof, if and to the extent required
under applicable Israeli law, U.S. law and the rules and regulations of the Exchange (as defined below).</FONT></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">(kk)&nbsp;&nbsp;<FONT STYLE="font-size: 10pt"><U>Customers</U>.
The Company has no customers upon which its business as described in the General Disclosure Package and the Prospectus is substantially
dependent.</FONT></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">(ll)&nbsp;&nbsp;<FONT STYLE="font-size: 10pt"><U>No
Registration Rights</U>. No person or entity has the right to require registration of shares of Ordinary Shares or other securities
of the Company or any of its subsidiaries because of the filing or effectiveness of the Registration Statement or otherwise, except
for persons and entities who have expressly waived such right in writing or who have been given timely and proper written notice
and have failed to exercise such right within the time or times required under the terms and conditions of such right. Except as
described in the General Disclosure Package, there are no persons with registration rights or similar rights to have any securities
registered by the Company or any of its subsidiaries under the Securities Act.</FONT></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">(mm)&nbsp;&nbsp;<FONT STYLE="font-size: 10pt"><U>Margin
Rules</U>. The application of the proceeds received by the Company from the issuance, sale and delivery of the Shares as described
in the General Disclosure Package and the Prospectus will not violate Regulation T, U or X of the Board of Governors of the Federal
Reserve system or any other regulation of such Board of Governors. </FONT></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"></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">(nn)&nbsp;&nbsp;<FONT STYLE="font-size: 10pt"><U>No
Broker&rsquo;s Fees</U>. Neither the Company nor any of its subsidiaries is a party to any contract, agreement or understanding
with any person (other than this Agreement) that would give rise to a valid claim against the Company or any of its subsidiaries
or the Underwriters for a brokerage commission, finder&rsquo;s fee or like payment in connection with the offering and sale of
the Shares or any transaction contemplated by this Agreement, the Registration Statement, the General Disclosure Package or the
Prospectus.</FONT></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">(oo)&nbsp;&nbsp;<FONT STYLE="font-size: 10pt"><U>No
Restrictions on Subsidiaries</U>. Except as described in the General Disclosure Package and the Prospectus, no subsidiary of the
Company is currently prohibited, directly or indirectly, under any agreement or other instrument to which it is a party or is subject,
from paying any dividends to the Company, from making any other distribution on such subsidiary&rsquo;s capital stock, from repaying
to the Company any loans or advances to such subsidiary from the Company or from transferring any of such subsidiary&rsquo;s properties
or assets to the Company or any other subsidiary of the Company.</FONT></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">(pp)&nbsp;&nbsp;<FONT STYLE="font-size: 10pt"><U>PFIC</U>.
The Company is not currently a Passive Foreign Investment Company (&ldquo;<B><I>PFIC</I></B>&rdquo;) within the meaning of Section
1296 of the United States Internal Revenue Code of 1966, and the Company does not expect to become a PFIC.</FONT></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">(qq)&nbsp;&nbsp;<FONT STYLE="font-size: 10pt"><U>Forward-Looking
Statements</U>. No forward-looking statement (within the meaning of Section 27A of the Securities Act and Section 21E of the Exchange
Act) contained in either the General Disclosure Package or the Prospectus has been made or reaffirmed without a reasonable basis
or has been disclosed other than in good faith.</FONT></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">(rr)&nbsp;&nbsp;<FONT STYLE="font-size: 10pt"><U>Listing</U>.
The Company is subject to and in compliance in all material respects with the reporting requirements of Section 13 or Section
15(d) of the Exchange Act. The Ordinary Shares are registered pursuant to Section 12(b) or 12(g) of the Exchange Act and are listed
on the NASDAQ Capital Market<I> </I>(the &ldquo;<B><I>Exchange</I></B>&rdquo;), and the Company has taken no action designed to,
or reasonably likely to have the effect of, terminating the registration of the Ordinary Shares under the Exchange Act or delisting
the Ordinary Shares from the Exchange, nor has the Company received any notification that the Commission or FINRA is contemplating
terminating such registration or listing. </FONT></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">(ss)&nbsp;&nbsp;<FONT STYLE="font-size: 10pt"><U>Sarbanes-Oxley
Act</U>. There is and has been no failure on the part of the Company or, to the Company&rsquo;s Knowledge, any of the Company&rsquo;s
officers or directors, in their capacities as such, to comply with any provision of the Sarbanes-Oxley Act of 2002 and the rules
and regulations promulgated in connection therewith (the &ldquo;<B><I>Sarbanes-Oxley Act</I></B>&rdquo;), including Section 402
related to loans and Sections 302 and 906 related to certifications. </FONT></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">(tt)&nbsp;&nbsp;<FONT STYLE="font-size: 10pt"><U>No
Unlawful Payments</U>. None of the Company or any of the subsidiaries or any of their respective directors, officers, agents,
representatives or employees (in their capacity as directors, officers, agents, representatives or employees) has: (a)&nbsp;used
any funds for unlawful contributions, gifts, entertainment or other unlawful expenses relating to political activity in respect
of the business activities of the Company or any of the subsidiaries; (b) directly or indirectly, paid or delivered any fee, commission
or other sum of money or item of property, however characterized, to any finder, agent, or other party acting on behalf of or
under the auspices of a governmental official or governmental authority, in the United States, the State of Israel, or any other
country, which is in any manner illegal under any law, rule or regulation of the United States (including, but not limited to,
the Foreign Corrupt Practices Act of 1977, as amended), the State of Israel (including, but not limited to Section 291A of the
Israeli Penal Law &ndash; 1997), or any other country in which the Company or any of its subsidiaries conducts, or seeks to conduct,
its business; or (c) made any payment to any customer, vendor or supplier of the Company or any of the subsidiaries, any officer,
director, partner, employee or agent of any such customer, vendor or supplier or officer, director, partner, employee or agent
for the unlawful reciprocal practice, or made any other unlawful payment or given any other unlawful consideration to any such
customer, vendor or supplier or any such officer, director, partner, employee or agent, in respect of the business or prospective
business of the Company or any of its subsidiaries. </FONT></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"></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">(uu)&nbsp;&nbsp;<FONT STYLE="font-size: 10pt"><U>Statistical
and Market Data</U>. The statistical and market related data included in the Registration Statement, the General Disclosure Package
and the Prospectus are based on or derived from sources that the Company believes to be reliable and accurate, and such data agree
with the sources from which they are derived.</FONT></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">(vv)&nbsp;&nbsp;<FONT STYLE="font-size: 10pt"><U>Compliance
with Money Laundering Laws</U>. The operations of the Company and its subsidiaries are and have been conducted at all times in
material compliance with all applicable financial recordkeeping and reporting requirements, including those of the Bank Secrecy
Act, as amended by Title III of the Uniting and Strengthening America by Providing Appropriate Tools Required to Intercept and
Obstruct Terrorism Act of 2001 (USA PATRIOT Act), and the applicable anti-money laundering statutes of jurisdictions where the
Company and its subsidiaries conduct business, the rules and regulations thereunder and any related or similar rules, regulations
or guidelines, issued, administered or enforced by any governmental agency (collectively, the &ldquo;<B><I>Anti-Money Laundering
Laws</I></B>&rdquo;), and no action, suit or proceeding by or before any court or governmental agency, authority or body or any
arbitrator involving the Company or any of its subsidiaries with respect to the Anti-Money Laundering Laws is pending or, to the
best knowledge of the Company, threatened. </FONT></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">(ww)&nbsp;&nbsp;<FONT STYLE="font-size: 10pt"><U>Compliance
with OFAC</U>. </FONT></P>

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<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 68pt"></TD><TD STYLE="width: 27pt; text-align: left">(A)</TD><TD STYLE="text-align: justify">Neither the Company nor any of its subsidiaries, nor any
director, officer or employee thereof, nor, the Company&rsquo;s knowledge, any agent, affiliate or representative of the Company
or any of its subsidiaries, is an individual or entity (&ldquo;<B><I>Person</I></B>&rdquo;) that is, or is owned or controlled
by a Person that is: (i) the subject of any sanctions administered or enforced by the U.S. Department of Treasury&rsquo;s Office
of Foreign Assets Control (&ldquo;<B><I>OFAC</I></B>&rdquo;), the United Nations Security Council (&ldquo;<B><I>UNSC</I></B>&rdquo;),
the European Union (&ldquo;<B><I>EU</I></B>&rdquo;), Her Majesty&rsquo;s Treasury (&ldquo;<B><I>HMT</I></B>&rdquo;), or other
relevant sanctions authority (collectively, &ldquo;<B><I>Sanctions</I></B>&rdquo;), nor (ii) located, organized or resident in
a country or territory that is the subject of Sanctions (including, without limitation, Iran, North Korea, Sudan and Syria).</TD>
</TR></TABLE>

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<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 68pt"></TD><TD STYLE="width: 27pt; text-align: left">(B)</TD><TD STYLE="text-align: justify">The Company will not, directly or indirectly, use the proceeds
of the offering, or lend, contribute or otherwise make available such proceeds to any subsidiary, joint venture partner or other
Person: (i) to fund or facilitate any activities or business of or with any Person or in any country or territory that, at the
time of such funding or facilitation, is the subject of Sanctions; or in any other manner that will result in a violation of Sanctions
by any Peron (including any Person participating in the offering, whether as underwriter, advisor, investor or otherwise).</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 94.5pt; text-align: justify; text-indent: -27pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 68pt"></TD><TD STYLE="width: 27pt; text-align: left">(C)</TD><TD STYLE="text-align: justify">For the past five (5) years, the Company and its subsidiaries
have not knowingly engaged in, are not now knowingly engaged in, and will not engage in, any dealings or transactions with any
Person, or in any country or territory, that at the time of the dealing or transaction is or was the subject of Sanctions.</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 94.5pt; text-align: justify; text-indent: -27pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 94.5pt; text-align: justify; text-indent: -27pt"></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">(xx)&nbsp;&nbsp;<FONT STYLE="font-size: 10pt"><U>No
Associated Persons; FINRA Matters</U>. Neither the Company nor any of its affiliates (within the meaning of FINRA Rule 5121(f)(1))
directly or indirectly controls, is controlled by, or is under common control with, or is an associated person (within the meaning
of Article I, Section 1(ee) of the By-laws of FINRA) of, any member firm of FINRA. In accordance with FINRA Conduct Rule 5110(b)(7)(C)(i),
the Shares have been registered with the Commission on Form F-3 under the Securities Act pursuant to the standards for such Form
F-3 in effect prior to October 21, 1992.</FONT></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">(yy)&nbsp;&nbsp;<FONT STYLE="font-size: 10pt"><U>Compliance
with Israeli Law</U>. </FONT></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" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 68pt"></TD><TD STYLE="width: 27pt; text-align: left">(A)</TD><TD STYLE="text-align: justify">Subject to conducting the offering as described in the
Prospectus, the Company is not required to publish a prospectus in the State of Israel under the laws of the State of Israel with
respect to the offer and sale of the Shares. The Company has not engaged and will not engage in any form of solicitation, advertising
or any other action constituting an offer under the Israeli Securities Law 5728-1968, as amended, and the regulations promulgated
thereunder (collectively, the &ldquo;<B><I>Israeli Securities Law</I></B>&rdquo;) in connection with the transactions contemplated
hereby which would require the Company to publish a prospectus in the State of Israel under the laws of the State of Israel.</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 94.5pt; text-align: justify; text-indent: -27pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 68pt"></TD><TD STYLE="width: 27pt; text-align: left">(B)</TD><TD STYLE="text-align: justify">Neither the Company nor any of its subsidiaries organized
under the laws of the State of Israel, nor any of their properties or assets, has any immunity from the jurisdiction of any court
or from any legal process (whether through service or notice, attachment prior to judgment, attachment in aid of execution or
otherwise) under the laws of the State of Israel.</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 94.5pt; text-align: justify; text-indent: -27pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 68pt"></TD><TD STYLE="width: 27pt; text-align: left"><FONT STYLE="font-size: 10pt">(C)</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">Neither the Company nor any
of its subsidiaries organized under the laws of the State of Israel has received any notice denying, revoking or modifying any
&ldquo;approved enterprise&rdquo; or &ldquo;benefited enterprise&rdquo; or &ldquo;preferred enterprise&rdquo; status with respect
to any of the Company&rsquo;s or such subsidiary&rsquo;s facilities or operations or with respect to any grants or benefits from
the Chief Scientist or the Investment Center (including, in all such cases, notice of proceedings or investigations related thereto).
All information supplied by the Company with respect to the applications or notifications relating to such &ldquo;approved enterprise&rdquo;
status, &ldquo;privileged enterprise status&rdquo; and &ldquo;preferred enterprise&rdquo; status and to grants and benefits from
the Chief Scientist and/or the Investment Center was true, correct and complete in all material respects when supplied to the
appropriate authorities. Neither the Company nor any of its subsidiaries has ever received any grant or approval from the Office
of the Chief Scientist in the Israeli Ministry of Industry, Trade and Labor</FONT>.</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 94.5pt; text-align: justify; text-indent: -27pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 68pt"></TD><TD STYLE="width: 27pt; text-align: left">(D)</TD><TD STYLE="text-align: justify">There are no proceedings that have been instituted in the
State of Israel for the dissolution of the Company or any of its subsidiaries organized under the laws of the State of Israel.</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 94.5pt; text-align: justify; text-indent: -27pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 68pt"></TD><TD STYLE="width: 27pt; text-align: left">(E)</TD><TD STYLE="text-align: justify">Assuming that the Underwriters are either not subject to
taxation in the State of Israel, or are exempt therefrom pursuant to the Israeli Income Tax Ordinance, 1961, or pursuant to the
U.S. Israel Income Tax Treaty, then the issuance, delivery and sale to the Underwriters of the Shares to be sold by the Company
hereunder, or any of them, should not cause the Underwriters to be subject to any tax imposed by the State of Israel or any political
subdivision thereof.</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 94.5pt; text-align: justify; text-indent: -27pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 68pt"></TD><TD STYLE="width: 27pt; text-align: left">(F)</TD><TD STYLE="text-align: justify">For a period of twelve (12) months prior to and including
the Closing Date, the Company has not offered or sold any of its securities in Israel, except for the issuance of options or similar
securities exercisable under the Company&rsquo;s equity incentive plans, which are exempt from prospectus requirements under the
Israeli Securities Law.</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 94.5pt; text-align: justify; text-indent: -27pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 94.5pt; text-align: justify; text-indent: -27pt"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 94.5pt; text-align: justify; text-indent: -27pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 68pt"></TD><TD STYLE="width: 27pt; text-align: left"><FONT STYLE="font-size: 10pt">(G)</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">The Company acknowledges,
understands and agrees that the Shares may be sold in Israel only by the Underwriters and only to such Israeli investors listed
in the First Addendum to the Israeli Securities Law</FONT>.</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 94.5pt; text-align: justify; text-indent: -27pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 68pt"></TD><TD STYLE="width: 27pt; text-align: left">(H)</TD><TD STYLE="text-align: justify">No consent, approval, authorization or order of, or filing,
qualification or registration with, any Israeli court or governmental agency or body, which has not been made, obtained or taken
and is not in full force and effect, is required for the execution, delivery and performance of this Agreement by the Company,
the offer or sale of the Shares or the consummation of the transactions contemplated hereby, other than the obligation, if any,
to file certain information following each Closing with the Israeli Investment Center and the Chief Scientist.</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 94.5pt; text-align: justify; text-indent: -27pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 68pt"></TD><TD STYLE="width: 27pt; text-align: left">(I)</TD><TD STYLE="text-align: justify">The Company, and each of its subsidiaries organized under
the laws of the State of Israel, has been at all times and is, in material compliance with all legal requirements that apply to
the development, design, manufacturing, marketing, distribution, using and exporting of equipment that may have military use,
including, without limitation, the Security Corporations Law (protection of security interests), 5766-2006, the Defense Export
Control Law, 5767-2007 and similar laws, as well as all regulations and orders enacted under such laws (&ldquo;<B><I>Defense Laws</I></B>&rdquo;)
to the extent such Defense Laws are applicable to the business and/or operations of the Company and any of its subsidiaries organized
under the laws of the State of Israel, and the Company is not aware of any basis causing it or its subsidiaries organized under
the laws of the State of Israel not to be in compliance in the future with the Defense Laws because of this Offering or any other
reason.</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 94.5pt; text-align: justify; text-indent: -27pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Any certificate signed by or on behalf
of the Company and delivered to the Representative or to counsel for the Underwriters shall be deemed to be a representation and
warranty by the Company to each Underwriter as to the matters covered thereby.<I> </I></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">3.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT STYLE="font-variant: small-caps"><I>Purchase,
Sale and Delivery of Offered Securities</I></FONT>. On the basis of the representations, warranties and agreements herein contained,
but subject to the terms and conditions herein set forth, the Company agrees to sell to the Underwriters, and the Underwriters
agree, severally and not jointly, to purchase from the Company the respective numbers of shares of Firm Shares set forth opposite
the names of the Underwriters in <U>Schedule A</U> hereto.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The purchase
price per share to be paid by the Underwriters to the Company for the Shares will be $12.00 per share (the
&ldquo;<B><I>Purchase Price</I></B>&rdquo;).</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The Company will deliver
the Firm Shares to the Representative for the respective accounts of the several Underwriters, through the facilities of The Depository
Trust Company, issued in such names and in such denominations as the Representative may direct by notice in writing to the Company
given at or prior to 12:00 Noon, New York time, on the second (2<SUP>nd</SUP>) full business day preceding the Closing Date against
payment of the aggregate Purchase Price therefor by wire transfer in federal (same day) funds to an account at a bank specified
by the Company payable to the order of the Company at the offices of Greenberg Traurig, LLP, 200 Park Avenue, New York, New York.
Time shall be of the essence, and delivery at the time and place specified pursuant to this Agreement is a further condition of
the obligations of each Underwriter hereunder. The time and date of the delivery and closing shall be at 10:00 A.M., New York time,
on June 23, 2015, in accordance with Rule 15c6-1 of the Exchange Act. The time and date of such payment and delivery are herein
referred to as the &ldquo;<B><I>Closing Date</I></B>&rdquo;. The Closing Date and the location of delivery of, and the form of
payment for, the Firm Shares may be varied by agreement between the Company and the Representative.</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">For the purpose of
covering any over-allotments in connection with the distribution and sale of the Firm Shares as contemplated by the Prospectus,
the Underwriters may purchase all or less than all of the Optional Shares, provided that such Optional Shares shall be purchased
from the Company for the account of each Underwriter in the same proportion as the number of Firm Shares set forth opporsite such
Underwriter&rsquo;s name on <U>Schedule A</U> bears to the total number of Firm Shares (subject to adjustment by the Representative
to eliminate fractions). The price per share to be paid for the Optional Shares shall be the Purchase Price. The Company agrees
to sell to the Underwriters the number of shares of Optional Shares specified in the written notice delivered by the Representative
to the Company described below and the Underwriters agree, severally and not jointly, to purchase such shares of Optional Shares.
The option granted hereby may be exercised as to all or any part of the Optional Shares at any time, and from time to time, not
more than thirty (30) days subsequent to the date of this Agreement. No Optional Shares shall be sold and delivered unless the
Firm Shares previously has been, or simultaneously is, sold and delivered. The right to purchase the Optional Shares or any portion
thereof may be surrendered and terminated at any time upon notice by Representative to the Company.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The option granted
hereby may be exercised by written notice being given to the Company by the Representative setting forth the number of Optional
Shares to be purchased by the Underwriters and the date and time for delivery of and payment for the Optional Shares. Each date
and time for delivery of and payment for the Optional Shares (which may be the Closing Date, but not earlier) is herein called
the &ldquo;<B><I>Option Closing Date</I></B>&rdquo; and shall in no event be earlier than two (2) business days nor later than
five (5) business days after written notice is given. The Option Closing Date and the Closing Date are herein called the &ldquo;<B><I>Closing
Dates</I></B>.&rdquo;</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The Company will deliver
the Optional Shares to the Representative for the respective accounts of the several Underwriters, through the facilities of The
Depository Trust Company, issued in such names and in such denominations as the Representative may direct by notice in writing
to the Company given at or prior to 12:00 Noon, New York time, on the second (2<SUP>nd</SUP>) full business day preceding the Option
Closing Date against payment of the aggregate Purchase Price therefor by wire transfer in federal (same day) funds to an account
at a bank acceptable to the Representative payable to the order of the Company at the offices of Greenberg Traurig, LLP, 200 Park
Avenue, New York New York. Time shall be of the essence, and delivery at the time and place specified pursuant to this Agreement
is a further condition of the obligations of each Underwriter hereunder. The Option Closing Date and the location of delivery of,
and the form of payment for, the Optional Shares may be varied by agreement between the Company and the Representative.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The several Underwriters
propose to offer the Shares for sale upon the terms and conditions set forth in the Prospectus.</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in"><FONT STYLE="font-variant: small-caps">4.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I>Further
Agreements</I></FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 22.5pt; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">(i)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><FONT STYLE="font-variant: small-caps"><I>Further
Agreements Of The Company</I></FONT>. The Company agrees with the several Underwriters:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 22.5pt; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0in">(a)&nbsp;&nbsp;<FONT STYLE="font-size: 10pt"><U>Required
Filings; Amendments or Supplements; Notice to the Representative</U>. To prepare the Rule 462(b) Registration Statement, if necessary,
in a form approved by the Representative and file such Rule 462(b) Registration Statement with the Commission by 10:00 P.M., New
York time, on the date hereof, and the Company shall at the time of filing either pay to the Commission the filing fee for the
Rule 462(b) Registration Statement or give irrevocable instructions for the payment of such fee pursuant to Rule 111(b) under the
Rules and Regulations; to prepare the Prospectus in a form approved by the Representative containing information previously omitted
at the time of effectiveness of the Registration Statement in reliance on Rules 430A, 430B or 430C of the Rules and Regulations
and to file such Prospectus pursuant to Rule 424(b) of the Rules and Regulations not later than the second business (2<SUP>nd</SUP>)
day following the execution and delivery of this Agreement or, if applicable, such earlier time as may be required by the Securities
Act; to notify the Representative immediately of the Company&rsquo;s intention to file or prepare any supplement or amendment to
the Registration Statement or to the Prospectus and to make no amendment or supplement to the Registration Statement, the General
Disclosure Package or to the Prospectus to which the Representative shall reasonably object by notice to the Company after a reasonable
period to review; to advise the Representative, promptly after it receives notice thereof, of the time when any amendment to the
Registration Statement has been filed or becomes effective or any supplement to the General Disclosure Package or the Prospectus
or any amended Prospectus or any Issuer Free Writing Prospectus has been filed and to furnish the Underwriters with copies thereof;
to file promptly all material required to be filed by the Company with the Commission pursuant to Rules 433(d) or 163(b)(2) of
the Rules and Regulations, as the case may be; to file promptly all reports and any definitive proxy or information statements
required to be filed by the Company with the Commission pursuant to Section 13(a), 13(c), 14 or 15(d) of the Exchange Act subsequent
to the date of the Prospectus and for so long as the delivery of a prospectus (or in lieu thereof, the notice referred to in Rule
173(a) of the Rules and Regulations) is required in connection with the offering or sale of the Shares; to advise the Representative,
promptly after it receives notice thereof, of the issuance by the Commission of any stop order or of any order preventing or suspending
the use of any Preliminary Prospectus, any Issuer Free Writing Prospectus, or the Prospectus, of the suspension of the qualification
of the Shares for offering or sale in any jurisdiction, of the initiation or threatening of any proceeding for any such purpose,
or of any request by the Commission for the amending or supplementing of the Registration Statement, the General Disclosure Package
or the Prospectus or for additional information; and, in the event of the issuance of any stop order or of any order preventing
or suspending the use of any Preliminary Prospectus, any Issuer Free Writing Prospectus or the Prospectus or suspending any such
qualification, and promptly to use its best efforts to obtain the withdrawal of such order.</FONT></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">(b)&nbsp;&nbsp;<FONT STYLE="font-size: 10pt"><U>Permitted
Free Writing Prospectus</U>. The Company represents and agrees that, unless it obtains the prior consent of the Representative,
and each Underwriter represents and agrees that, unless it obtains the prior consent of the Company and the Representative, it
has not made and will not, other than the final term sheet, if any, prepared and filed pursuant to Section&nbsp;4(i)(c) hereof,
make any offer relating to the Shares that would constitute a &ldquo;free writing prospectus&rdquo; as defined in Rule 405 of the
Rules and Regulations unless the prior written consent of the Representative has been received (each, a &ldquo;<B><I>Permitted
Free Writing Prospectus</I></B>&rdquo;); <I> provided</I> that the prior written consent of the Representative hereto shall be
deemed to have been given in respect of each Issuer Free Writing Prospectus included in <U>Schedule C</U> hereto. The Company represents
that it has treated and agrees that it will treat each Permitted Free Writing Prospectus as an Issuer Free Writing Prospectus,
comply with the requirements of Rules 164 and 433 of the Rules and Regulations applicable to any Issuer Free Writing Prospectus,
including the requirements relating to timely filing with the Commission, legending and record keeping and will not take any action
that would result in an Underwriter or the Company being required to file with the Commission pursuant to Rule 433(d) of the Rules
and Regulations a free writing prospectus prepared by or on behalf of such Underwriter that such Underwriter otherwise would not
have been required to file thereunder. The Company consents to the use by any Underwriter of a free writing prospectus that (a)
is not an &quot;issuer free writing prospectus&quot; as defined in Rule 433 of the Rules and Regulations, and (b) contains only
(i) information describing the preliminary terms of the Shares or their offering of (ii) information that described the final terms
of the Shares or their offering and that is included in the Final Term Sheet (as defined below) of the Company contemplated in
Section 4(i)(c) below.</FONT></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>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0in">(c)&nbsp;&nbsp;<FONT STYLE="font-size: 10pt"><U>Final
Term Sheet</U>. At the request of the Representative, the Company will prepare a final term sheet (the &ldquo;<B><I>Final Term
Sheet</I></B>&rdquo;) reflecting the final terms of the Shares, in form and substance satisfactory to the Representative, and shall
file such Final Term Sheet as an Issuer Free Writing Prospectus pursuant to Rule 433 of the Rules and Regulations on the date hereof;
<I>provided</I> that the Company shall provide the Representative with copies on any such Final Term Sheet a reasonable amount
of time prior to such proposed filing and will not use or file any such document to which the Representative or counsel to the
Underwriters shall reasonably object.</FONT></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">(d)&nbsp;&nbsp;<FONT STYLE="font-size: 10pt"><U>Ongoing
Compliance</U>. If at any time prior to the date when a prospectus relating to the Shares is required to be delivered (or in lieu
thereof, the notice referred to in Rule 173(a) under the Securities Act) any event occurs or condition exists as a result of which
the Prospectus as then amended or supplemented would include any untrue statement of a material fact, or omit to state any material
fact necessary to make the statements therein, in light of the circumstances under which they were made when the Prospectus is
delivered (or in lieu thereof, the notice referred to in Rule 173(a) of the Rules and Regulations), not misleading, or if it is
necessary at any time to amend or supplement the Registration Statement or the Prospectus or to file under the Exchange Act any
document incorporated by reference in the Prospectus to comply with the Securities Act or the Exchange Act, that the Company will
promptly notify the Representative thereof and upon their request will prepare an appropriate amendment or supplement or upon their
request make an appropriate filing pursuant to Section&nbsp;13 or 14 of the Exchange Act in form and substance satisfactory to
the Representative which will correct such statement or omission or effect such compliance and will use its reasonable best efforts
to have any amendment to the Registration Statement declared effective as soon as possible. The Company will furnish without charge
to each Underwriter and to any dealer in securities as many copies as the Representative may from time to time reasonably request
of such amendment or supplement. In case any Underwriter is required to deliver a prospectus (or in lieu thereof, the notice referred
to in Rule 173(a) of the Rules and Regulations) relating to the Shares, the Company upon the request of the Representative and
at the expense of such Underwriter will prepare promptly an amended or supplemented Prospectus as may be necessary to permit compliance
with the requirements of Section 10(a)(3) of the Securities Act and deliver to such Underwriter as many copies as such Underwriter
may request of such amended or supplemented Prospectus complying with Section 10(a)(3) of the Securities Act. </FONT></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">(e)&nbsp;&nbsp;<FONT STYLE="font-size: 10pt"><U>Amendment
to General Disclosure Package</U>. If the General Disclosure Package is being used to solicit offers to buy the Shares at a time
when the Prospectus is not yet available to prospective purchasers and any event shall occur as a result of which, in the judgment
of the Company or in the reasonable opinion of the Underwriters, it becomes necessary to amend or supplement the General Disclosure
Package in order to make the statements therein, in the light of the circumstances then prevailing, not misleading, or to make
the statements therein not conflict with the information contained or incorporated by reference in the Registration Statement then
on file and not superseded or modified, or if it is necessary at any time to amend or supplement the General Disclosure Package
to comply with any law, the Company promptly will either (i) prepare, file with the Commission (if required) and furnish to the
Underwriters and any dealers an appropriate amendment or supplement to the General Disclosure Package or (ii) prepare and file
with the Commission an appropriate filing under the Exchange Act which shall be incorporated by reference in the General Disclosure
Package so that the General Disclosure Package as so amended or supplemented will not, in the light of the circumstances then prevailing,
be misleading or conflict with the Registration Statement then on file, or so that the General Disclosure Package will comply with
law. </FONT></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">(f)&nbsp;&nbsp;<FONT STYLE="font-size: 10pt"><U>Amendment
to Issuer Free Writing Prospectus</U>. If at any time following issuance of an Issuer Free Writing Prospectus there occurred or
occurs an event or development as a result of which such Issuer Free Writing Prospectus conflicted or will conflict with the information
contained in the Registration Statement, Pricing Prospectus or Prospectus, including any document incorporated by reference therein
and any prospectus supplement deemed to be a part thereof and not superseded or modified or included or would include an untrue
statement of a material fact or omitted or would omit to state a material fact required to be stated therein or necessary in order
to make the statements therein, in the light of the circumstances prevailing at the subsequent time, not misleading, the Company
has promptly notified or will promptly notify the Representative so that any use of the Issuer Free Writing Prospectus may cease
until it is amended or supplemented and has promptly amended or will promptly amend or supplement, at its own expense, such Issuer
Free Writing Prospectus to eliminate or correct such conflict, untrue statement or omission. The foregoing sentence does not apply
to statements in or omissions from any Issuer Free Writing Prospectus in reliance upon, and in conformity with, written information
furnished to the Company through the Representative by or on behalf of any Underwriter specifically for inclusion therein, which
information the parties hereto agree is limited to the Underwriter&rsquo;s Information.</FONT></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">(g)&nbsp;&nbsp;<FONT STYLE="font-size: 10pt"><U>Delivery
of Registration Statement</U>. To the extent not available on the Commission&rsquo;s Electronic Data Gathering, Analysis and Retrieval
system or any successor system (&ldquo;<B><I>EDGAR</I></B>&rdquo;), upon the request of the Representative, to furnish promptly
to the Representative and to counsel for the Underwriters a signed copy of the Registration Statement as originally filed with
the Commission, and of each amendment thereto filed with the Commission, including all consents and exhibits filed therewith.</FONT></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">(h)&nbsp;&nbsp;<FONT STYLE="font-size: 10pt"><U>Delivery
of Copies</U>. Upon request of the Representative, to the extent not available on EDGAR, to deliver promptly to the Representative
in New York City such number of the following documents as the Representative shall reasonably request: (i) conformed copies of
the Registration Statement as originally filed with the Commission (in each case excluding exhibits), (ii) each Preliminary Prospectus,
(iii) any Issuer Free Writing Prospectus, (iv) the Prospectus (the delivery of the documents referred to in clauses (i), (ii),
(iii) and (iv) of this paragraph (h) to be made not later than 10:00 A.M., New York time, on the business day following the execution
and delivery of this Agreement), (v) conformed copies of any amendment to the Registration Statement (excluding exhibits), (vi)
any amendment or supplement to the General Disclosure Package or the Prospectus (the delivery of the documents referred to in clauses
(v) and (vi) of this paragraph (h) to be made not later than 10:00 A.M., New York City time, on the business day following the
date of such amendment or supplement), and (vii) any document incorporated by reference in the General Disclosure Package or the
Prospectus (excluding exhibits thereto) (the delivery of the documents referred to in clause (vi) of this paragraph (h) to be made
not later than 10:00 A.M., New York City time, on the business day following the date of such document).</FONT></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">(i)&nbsp;&nbsp;<FONT STYLE="font-size: 10pt"><U>Earnings
Statement</U>. To make generally available to its shareholders as soon as practicable, but in any event not later than sixteen
(16) months after the effective date of the Registration Statement (as defined in Rule 158(c) of the Rules and Regulations), an
earnings statement of the Company and its subsidiaries (which need not be audited) complying with Section 11(a) of the Securities
Act (including, at the option of the Company, Rule 158).</FONT></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">(j)&nbsp;&nbsp;<FONT STYLE="font-size: 10pt"><U>[Reserved]
</U> </FONT></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">(k)&nbsp;&nbsp;<FONT STYLE="font-size: 10pt"><U>Reports</U>.
Upon request, during the period of five (5) years from the date hereof, to deliver to each of the Underwriters, (i) as soon as
they are available, copies of all reports or other communications (financial or other) furnished to shareholders, and (ii) as soon
as they are available, copies of any reports and financial statements furnished or filed with the Commission or any national securities
exchange on which the Shares is listed. However, so long as the Company is subject to the reporting requirements of either Section
13 or Section 15(d) of the Exchange Act and is timely filing reports EDGAR, it is not required to furnish such reports or statements
to the Underwriters.</FONT></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"></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">(l)&nbsp;&nbsp;<FONT STYLE="font-size: 10pt"><U>Lock-Up</U>.
During the period commencing on and including the date hereof and ending on and including the 90th day following the date of this
Agreement (as the same may be extended as described below, the &ldquo;<B><I>Lock-Up Period</I></B>&rdquo;), the Company will not,
without the prior written consent of the Representative (which consent may be withheld at the sole discretion of the Representative),
directly or indirectly offer, sell (including, without limitation, any short sale), assign, transfer, pledge, contract to sell,
establish an open &ldquo;put equivalent position&rdquo; within the meaning of Rule 16a-1(h) under the Exchange Act, or otherwise
dispose of, or announce the offering of, or file any registration statement under the Securities Act in respect of, any Ordinary
Shares, options, rights or warrants to acquire Ordinary Shares or securities exchangeable or exercisable for or convertible into
Ordinary Shares (other than is contemplated by this Agreement with respect to the Shares) or publicly announce any intention to
do any of the foregoing; <I>provided, however</I>, that the Company may (i) issue Ordinary Shares and options to purchase Ordinary
Shares, Ordinary Shares underlying options granted and other securities, each pursuant to any director or employee stock option
plan, stock ownership plan or dividend reinvestment plan of the Company in effect on the date hereof and described in the General
Disclosure Package; (ii) issue Ordinary Shares pursuant to the conversion of securities or the exercise of warrants, which securities
or warrants are outstanding on the date hereof and described in the General Disclosure Package; (iii) adopt a new equity incentive
plan, and file a registration statement on Form S-8 under the Securities Act to register the offer and sale of securities to be
issued pursuant to such new equity incentive plan, and issue securities pursuant to such new equity incentive plan (including,
without limitation, the issuance of Ordinary Shares upon the exercise of options or other securities issued pursuant to such new
equity incentive plan), provided that (1) such new equity incentive plan satisfies the transaction requirements of General Instruction
A.1 of Form S-8 under the Securities Act and (2) this clause (iii) shall not be available unless each recipient of Ordinary Shares,
or securities exchangeable or exercisable for or convertible into Ordinary Shares, pursuant to such new equity incentive plan shall
be contractually prohibited from selling, offering, disposing of or otherwise transferring any such shares or securities during
the remainder of the Lock-Up Period. Notwithstanding the foregoing, if (A) during the last 17 days of the Lock-Up Period, the Company
issues an earnings release or material news or a material event relating to the Company occurs or (B) prior to the expiration of
the Lock-Up Period, the Company announces that it will release earnings results during the 16-day period beginning on the last
day of the Lock-Up Period, then in each case the Lock-Up Period will be extended until the expiration of the 18-day period beginning
on the date of the issuance of the earnings release or the occurrence of the material news or material event, as applicable, unless
the Representative waives, in writing, such extension (which waiver may be withheld at the sole discretion of the Representative),
except that such extension will not apply if (x) the Ordinary Shares are an &ldquo;actively traded security&rdquo; (as defined
in Regulation M), (y) the Company meets the applicable requirements of Rule 139(a)(1) under the Securities Act in the manner contemplated
by NASD Conduct Rule 2711(f)(4), and (z) the provisions of NASD Conduct Rule 2711(f)(4) do not restrict the publication or distribution,
by any of the Underwriters, of any research reports relating to the Company during the 15 days before or after the last day of
the Lock-up Period (before giving effect to such extension). The Company will provide the Representative with prior notice of any
such announcement that gives rise to an extension of the Lock-up Period, subject to the Representative&rsquo;s agreement to hold
such information in confidence prior to public disclosure of the same. The Company will cause each person and entity listed in
<U>Schedule D</U> to furnish to the Representative, prior to the Closing Date, a &ldquo;lock-up&rdquo; agreement, substantially
in the form of <U>Exhibit I</U> hereto. In addition, the Company will direct the transfer agent to place stop transfer restrictions
upon any such securities of the Company that are bound by such &ldquo;lock-up&rdquo; agreements.</FONT></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">(m)&nbsp;&nbsp;<FONT STYLE="font-size: 10pt"><U>Delivery
of SEC Correspondence</U>. To supply the Underwriters with copies of all correspondence to and from, and all documents issued to
and by, the Commission in connection with the registration of the Shares under the Securities Act or any of the Registration Statement,
any Preliminary Prospectus or the Prospectus, or any amendment or supplement thereto or document incorporated by reference therein.
</FONT></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">(n)&nbsp;&nbsp;<FONT STYLE="font-size: 10pt"><U>Press
Releases</U>. Prior to the Closing Date, not to issue any press release or other communication directly or indirectly or hold any
press conference with respect to the Company, its condition, financial or otherwise, or earnings, business affairs or business
prospects (except for routine oral marketing communications in the ordinary course of business and consistent with the past practices
of the Company and of which the Representative is notified), without the prior consent of the Representative, unless in the judgment
of the Company and its counsel, and after notification to the Representative, such press release or communication is required by
law.</FONT></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">(o)&nbsp;&nbsp;<FONT STYLE="font-size: 10pt"><U>Compliance
with Regulation M</U>. Until the Underwriters shall have notified the Company of the completion of the resale of the Shares, that
the Company will not, and will use its reasonable best efforts to cause its affiliated purchasers (as defined in Regulation M under
the Exchange Act) not to, either alone or with one or more other persons, bid for or purchase, for any account in which it or any
of its affiliated purchasers has a beneficial interest, any Shares, or attempt to induce any person to purchase any Shares; and
not to, and to use its reasonable best efforts to cause its affiliated purchasers not to, make bids or purchase for the purpose
of creating actual, or apparent, active trading in or of raising the price of the Shares.</FONT></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)&nbsp;&nbsp;<FONT STYLE="font-size: 10pt"><U>Registrar
and Transfer Agent</U>. To maintain, at its expense, a registrar and transfer agent for the Shares.</FONT></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">(q)&nbsp;&nbsp;<FONT STYLE="font-size: 10pt"><U>Use
of Proceeds</U>. To apply the net proceeds from the sale of the Shares as set forth in the Registration Statement, the General
Disclosure Package and the Prospectus under the heading &ldquo;Use of Proceeds,&rdquo; and except as disclosed in the General Disclosure
Package, the Company does not intend to use any of the proceeds from the sale of the Shares hereunder (i) to repay any outstanding
debt or other obligation owed to any affiliate of any Underwriter or (ii) to make any payments to any affiliate or third party
in connection with any deferred purchase price or earn-out relating to the acquisition of property or assets. </FONT></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">(r)&nbsp;&nbsp;<FONT STYLE="font-size: 10pt"><U>Exchange
Listing</U>. To use its reasonable best efforts to list, subject to notice of issuance, and to maintain the listing of the Shares
on the Exchange</FONT></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">(s)&nbsp;&nbsp;<FONT STYLE="font-size: 10pt"><U>Performance
of Covenants and Satisfaction of Conditions</U>. To use its reasonable best efforts to do and perform all things required to be
done or performed under this Agreement by the Company prior to each Closing Date and to satisfy all conditions precedent to the
delivery of the Firm Shares and the Optional Shares.</FONT></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; text-align: justify; text-indent: 0in">5.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT STYLE="font-variant: small-caps"><I>Payment
of Expenses</I></FONT>. The Company agrees to pay, or reimburse if paid by any Underwriter, whether or not the transactions
contemplated hereby are consummated or this Agreement is terminated: (a) the costs incident to the authorization, issuance,
sale, preparation and delivery of the Shares and any taxes payable in that connection; (b) the costs incident to the
registration of the Shares under the Securities Act; (c) the costs incident to the preparation, printing and distribution of
the Registration Statement, the Base Prospectus, any Preliminary Prospectus, any Issuer Free Writing Prospectus, the General
Disclosure Package, the Prospectus, any amendments, supplements and exhibits thereto or any document incorporated by
reference therein and the costs of printing, reproducing and distributing the &ldquo;Agreement Among Underwriters&rdquo;
between the Representative and the Underwriters, the Master Selected Dealers&rsquo; Agreement, the Underwriters&rsquo;
Questionnaire, this Agreement and any closing documents by mail, telex or other means of communications; (d) the fees and
expenses (including related fees and expenses of counsel for the Underwriters) incurred in connection with &ldquo;blue
sky&rdquo; filings, if any, and securing any required review by FINRA of the terms of the sale of the Shares and any filings
made with FINRA; (e) any applicable listing or other fees; (f) the cost of preparing and printing Shares certificates; (g)
all fees and expenses of the registrar and transfer agent of the Shares; (h) the costs and expenses of the Company relating
to investor presentations on any &ldquo;road show&rdquo; undertaken in connection with the marketing of the offering of the
Shares, including, without limitation, expenses associated with the preparation or dissemination of any electronic road show,
expenses associated with the production of road show slides and graphics, fees and expenses of any consultants engaged in
connection with the road show presentations with the prior approval of the Company, travel and lodging expenses of the
officers of the Company and such consultants, including the cost of any aircraft chartered in connection with the road show;
and (i) all other costs and expenses incident to the offering of the Shares or the performance of the obligations of the
Company under this Agreement (including, without limitation, the fees and expenses of the Company&rsquo;s counsel and the
Company&rsquo;s independent accountants; <I>provided</I> that, except to the extent otherwise provided in this Section 5 and
in Sections 9 and 10, the Underwriters shall pay their own costs and expenses, including the fees and expenses of their
counsel not contemplated herein, any transfer taxes on the resale of any Shares by them and the expenses of advertising any
offering of the Shares made by the Underwriters.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">6.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT STYLE="font-variant: small-caps"><I>Conditions
of Underwriters&rsquo; Obligations.</I></FONT> The respective obligations of the several Underwriters hereunder are subject to
the accuracy, when made and as of the Applicable Time and on such Closing Date, of the representations and warranties of the Company
contained herein, to the accuracy of the statements of the Company made in any certificates pursuant to the provisions hereof,
to the performance by the Company of its obligations hereunder, and to each of the following additional terms and conditions:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; 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">(a)&nbsp;&nbsp;<FONT STYLE="font-size: 10pt"><U>Registration
Compliance; No Stop Orders</U>. The Registration Statement has become effective under the Securities Act, and no stop order suspending
the effectiveness of the Registration Statement or any part thereof, preventing or suspending the use of any Base Prospectus, any
Preliminary Prospectus, the Prospectus or any Permitted Free Writing Prospectus or any part thereof shall have been issued and
no proceedings for that purpose or pursuant to Section 8A under the Securities Act shall have been initiated or threatened by the
Commission, and all requests for additional information on the part of the Commission (to be included or incorporated by reference
in the Registration Statement or the Prospectus or otherwise) shall have been complied with to the reasonable satisfaction of the
Representative; the Rule 462(b) Registration Statement, if any, each Issuer Free Writing Prospectus and the Prospectus shall have
been filed with, the Commission within the applicable time period prescribed for such filing by, and in compliance with, the Rules
and Regulations and in accordance with Section 4(i)(a), and the Rule 462(b) Registration Statement, if any, shall have become effective
immediately upon its filing with the Commission; and FINRA shall have raised no unresolved objection to the fairness and reasonableness
of the terms of this Agreement or the transactions contemplated hereby.</FONT></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">(b)&nbsp;&nbsp;<FONT STYLE="font-size: 10pt"><U>No
Material Misstatements</U>. None of the Underwriters shall have discovered and disclosed to the Company on or prior to such Closing
Date that the Registration Statement or any amendment or supplement thereto contains an untrue statement of a fact which, in the
opinion of counsel for the Underwriters, is material or omits to state any fact which, in the opinion of such counsel, is material
and is required to be stated therein or is necessary to make the statements therein not misleading, or that the General Disclosure
Package, any Issuer Free Writing Prospectus or the Prospectus or any amendment or supplement thereto contains an untrue statement
of fact which, in the opinion of such counsel, is material or omits to state any fact which, in the opinion of such counsel, is
material and is necessary in order to make the statements, in the light of the circumstances in which they were made, not misleading.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0in">&nbsp;</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">(c)&nbsp;&nbsp;<FONT STYLE="font-size: 10pt"><U>Corporate
Proceedings</U>. All corporate proceedings incident to the authorization, form and validity of each of this Agreement, the Shares,
the Registration Statement, the General Disclosure Package, each Issuer Free Writing Prospectus and the Prospectus and the transactions
contemplated hereby shall be reasonably satisfactory in all material respects to counsel for the Underwriters, and the Company
shall have furnished to such counsel all documents and information that they may reasonably request to enable them to pass upon
such matters.</FONT></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">(d)&nbsp;&nbsp;<FONT STYLE="font-size: 10pt"><U>Opinion
and 10b-5 Statement of Counsel for the Company</U><I>. </I>Haynes and Boone LLP shall have furnished to the Representative such
counsel&rsquo;s written opinion and 10b-5 Statement, as counsel to the Company, addressed to the Underwriters and dated such Closing
Date, in form and substance reasonably satisfactory to the Representative, to the effect set forth in <U>Exhibit II</U> hereto.
S. Friedman, Israeli counsel to the Company, shall have furnished to the Representative such counsel&rsquo;s written opinion addressed
to the Underwriters and dated such Closing Date, in form and substance reasonably satisfactory to the Representative.</FONT></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">(e)&nbsp;&nbsp;<FONT STYLE="font-size: 10pt"><U>Opinion
and 10b-5 Statement of Counsel for the Underwriters.</U> The Representative shall have received from Greenberg Traurig, LLP, counsel
for the Underwriters, such opinion or opinions and 10b-5 Statement, dated such Closing Date, with respect to such matters as the
Underwriters may reasonably require, and the Company shall have furnished to such counsel such documents as they request for enabling
them to pass upon such matters. Pearl Cohen Zedel Latzer Baratz, Israeli counsel to the Underwriters, shall have furnished to the
Representative such counsel&rsquo;s written opinion addressed to the Underwriters and dated such Closing Date, in form and substance
reasonably satisfactory to the Representative.</FONT></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">(f)&nbsp;&nbsp;<FONT STYLE="font-size: 10pt"><U>Comfort
Letter</U>. At the time of the execution of this Agreement, the Representative shall have received from Deloitte/Brightman Almagor
Zohar &amp; Co. a letter, addressed to the Underwriters, executed and dated such date, in form and substance satisfactory to the
Representative (i) confirming that they are an independent registered accounting firm with respect to the Company and its subsidiaries
within the meaning of the Securities Act and the Rules and Regulations and PCAOB and (ii) stating the conclusions and findings
of such firm, of the type ordinarily included in accountants&rsquo; &ldquo;comfort letters&rdquo; to underwriters, with respect
to the financial statements and certain financial information contained or incorporated by reference in the Registration Statement,
the General Disclosure Package and the Prospectus.</FONT></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">(g)&nbsp;&nbsp;<FONT STYLE="font-size: 10pt"><U>Bring
Down Comfort</U>. On the effective date of any post-effective amendment to the Registration Statement and on such Closing Date,
the Representative shall have received a letter (the &ldquo;<B><I>bring-down letter</I></B>&rdquo;) from Deloitte/Brightman Almagor
Zohar &amp; Co. addressed to the Underwriters and dated such Closing Date confirming, as of the date of the bring-down letter (or,
with respect to matters involving changes or developments since the respective dates as of which specified financial information
is given in the General Disclosure Package and the Prospectus, as the case may be, as of a date not more than three (3) business
days prior to the date of the bring-down letter), the conclusions and findings of such firm, of the type ordinarily included in
accountants&rsquo; &ldquo;comfort letters&rdquo; to underwriters, with respect to the financial information and other matters covered
by its letter delivered to the Representative concurrently with the execution of this Agreement pursuant to paragraph (f) of this
Section 6. </FONT></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">(h)&nbsp;&nbsp;<FONT STYLE="font-size: 10pt"><U>Officer&rsquo;s
Certificate</U>. The Company shall have furnished to the Representative a certificate, dated such Closing Date, of its Chairman
of the Board or President and its Chief Financial Officer stating in their respective capacities as officers of the Company on
behalf of the Company that (i) no stop order suspending the effectiveness of the Registration Statement (including, for avoidance
of doubt, any Rule 462(b) Registration Statement), or any post-effective amendment thereto, shall be in effect and no proceedings
for such purpose shall have been instituted or, to their knowledge, threatened by the Commission, (ii) for the period from and
including the date of this Agreement through and including such Closing Date, there has not occurred any Material Adverse Effect,
(iii) to their knowledge, after reasonable investigation, as of such Closing Date, the representations and warranties of the Company
in this Agreement are true and correct and the Company has complied with all agreements and satisfied all conditions on its part
to be performed or satisfied hereunder at or prior to such Closing Date, (iv) the Interim Financial Statements are true and complete,
fairly represent the Company&rsquo;s financial position as of the dates presented and have been prepared in accordance with U.S.
GAAP applied on a consistent basis throughout the periods presented, and (v) there has not been, subsequent to the date of the
most recent audited financial statements included or incorporated by reference in the General Disclosure Package, any Material
Adverse Effect in the financial position or results of operations of the Company, or any change or development that, singularly
or in the aggregate, would reasonably be expected to involve a Material Adverse Effect, except as set forth in the General Disclosure
Package and the Prospectus. </FONT></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">(i)&nbsp;&nbsp;<FONT STYLE="font-size: 10pt"><U>No
Material Adverse Effect</U>. Since the date of the latest audited financial statements included in the General Disclosure Package
or incorporated by reference in the General Disclosure Package as of the date hereof, (i) neither the Company nor any of its subsidiaries
shall have sustained any loss or interference with its business from fire, explosion, flood or other calamity, whether or not covered
by insurance, or from any labor dispute or court or governmental action, order or decree, otherwise than as set forth in the General
Disclosure Package, and (ii) there shall not have been any change in the capital stock or long-term debt of the Company or any
of its subsidiaries, or any change, or any development involving a prospective change, in or affecting the business, general affairs,
management, financial position, shareholders&rsquo; equity or results of operations of the Company and its subsidiaries, otherwise
than as set forth in the General Disclosure Package, the effect of which, in any such case described in clause (i) or (ii) of this
paragraph (i), is, in the judgment of the Representative, so material and adverse as to make it impracticable or inadvisable to
proceed with the sale or delivery of the Shares on the terms and in the manner contemplated in the General Disclosure Package.</FONT></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">(j)&nbsp;&nbsp;<FONT STYLE="font-size: 10pt"><U>No
Legal Impediment to Issuance</U>. No action shall have been taken and no law, statute, rule, regulation or order shall have been
enacted, adopted or issued by any governmental or regulatory agency or body which would prevent the issuance or sale of the Shares;
and no injunction, restraining order or order of any other nature by any federal or state court of competent jurisdiction shall
have been issued which would prevent the issuance or sale of the Shares or materially and adversely affect or potentially materially
and adversely affect the business or operations of the Company.</FONT></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">(k)&nbsp;&nbsp;<FONT STYLE="font-size: 10pt"><U>Market
Conditions</U>. Subsequent to the execution and delivery of this Agreement there shall not have occurred any of the following:
(i) trading in any of the Company&rsquo;s securities shall have been suspended or materially limited by the Commission or the Exchange,
or trading in securities generally on the New York Shares Exchange, NASDAQ Global Select Market, NASDAQ Global Market, NASDAQ Capital
Market or the NYSE MKT LLC or in the over-the-counter market, or trading in any securities of the Company on any exchange or in
the over-the-counter market, shall have been suspended or materially limited, or minimum or maximum prices or maximum range for
prices shall have been established on any such exchange or such market by the Commission, by such exchange or market or by any
other regulatory body or governmental authority having jurisdiction, (ii) a banking moratorium shall have been declared by Federal
or state authorities or a material disruption has occurred in commercial banking or securities settlement or clearance services
in the United States, (iii) the United States or the State of Israel shall have become engaged in hostilities, or the subject of
an act of terrorism, or there shall have been an outbreak of or escalation in hostilities involving the United States or the State
of Israel, or there shall have been a declaration of a national emergency or war by the United States or the State of Israel, or
(iv) there shall have occurred such a material adverse change in general economic, political or financial conditions (or the effect
of international conditions on the financial markets in the United States shall be such) as to make it, in the judgment of the
Representative, impracticable or inadvisable to proceed with the sale or delivery of the Shares on the terms and in the manner
contemplated in the General Disclosure Package and the Prospectus.</FONT></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="margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0in">(l)&nbsp;&nbsp;&nbsp;<FONT STYLE="font-size: 10pt"><U>Exchange
Listing</U>. The Company shall have filed a Notification: Listing of Additional Shares with the NASDAQ Capital Market and shall
have received no objection thereto from the Exchange.</FONT></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">(m)&nbsp;&nbsp;<FONT STYLE="font-size: 10pt"><U>Good
Standing</U>. The Representative shall have received on and as of such Closing Date satisfactory evidence of the good standing
of the Company and its subsidiaries in their respective jurisdictions of organization and their good standing as foreign entities
in such other jurisdictions as the Representative may reasonably request, in each case in writing or any standard form of telecommunication
from the appropriate Governmental Authorities of such jurisdictions.</FONT></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">(n)&nbsp;&nbsp;&nbsp;<FONT STYLE="font-size: 10pt"><U>Lock
Up Agreements</U>. The Representative shall have received the written agreements, substantially in the form of <U>Exhibit&nbsp;I</U>
hereto, of the officers, directors, and shareholders of the Company listed in <U>Schedule D</U> to this Agreement.</FONT></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">(o)&nbsp;&nbsp;&nbsp;<FONT STYLE="font-size: 10pt"><U>Secretary&rsquo;s
Certificate</U>. The Company shall have furnished to the Representative a Secretary&rsquo;s Certificate of the Company, in form
and substance reasonably satisfactory to counsel for the Underwriters and customary for the type of offering contemplated by this
Agreement.</FONT></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)&nbsp;&nbsp;&nbsp;<FONT STYLE="font-size: 10pt"><U>Chief
Financial Officer Certificate</U>. The Company shall have furnished to the Representative a certificate, dated such Closing Date,
of its Chief Financial Officer, as to the Interim Financial Statements and such other matters as the Representative shall reasonably
request. </FONT></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">(q)&nbsp;&nbsp;&nbsp;<FONT STYLE="font-size: 10pt"><U>Additional
Documents</U>. On or prior to such Closing Date, the Company shall have furnished to the Representative such further certificates
and documents as the Representative may reasonably request.</FONT></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; text-align: justify; text-indent: 0.5in">All opinions, letters,
evidence and certificates mentioned above or elsewhere in this Agreement shall be deemed to be in compliance with the provisions
hereof only if they are in form and substance reasonably satisfactory to counsel for the Underwriters.</P>

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


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in"><FONT STYLE="font-variant: small-caps">7.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I>Indemnification
and Contribution. </I></FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0in">(a)&nbsp;&nbsp;<FONT STYLE="font-size: 10pt"><U>Indemnification
of Underwriters by the Company</U>. The Company shall indemnify and hold harmless:</FONT></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 1in; text-align: justify; text-indent: 0in">each Underwriter,
its affiliates, directors, officers, managers, members, employees, representatives and agents and each person, if any, who controls
any Underwriter within the meaning of Section 15 of the Securities Act or Section 20 of the Exchange Act (collectively the &ldquo;<B><I>Underwriter
Indemnified Parties</I></B>,&rdquo; and each an &ldquo;<B><I>Underwriter Indemnified Party</I></B>&rdquo;) against any loss, claim,
damage, expense or liability whatsoever (or any action, investigation or proceeding in respect thereof), joint or several, to which
such Underwriter Indemnified Party may become subject, under the Securities Act or otherwise, insofar as such loss, claim, damage,
expense, liability, action, investigation or proceeding arises out of or is based upon (A) any untrue statement or alleged untrue
statement of a material fact contained in any Preliminary Prospectus, any Issuer Free Writing Prospectus, any &quot;issuer information&quot;
filed or required to be filed pursuant to Rule 433(d) of the Rules and Regulations, the Registration Statement, the Prospectus,
or in any amendment or supplement thereto or document incorporated by reference therein or in any materials or information provided
to investors by, or with the approval of, the Company in connection with the marketing of the offering of the Ordinary Shares,
including any roadshow or investor presentations made to investors by the Company (whether in person or electronically) (&ldquo;<B><I>Marketing
Materials</I></B>&rdquo;) or (B) the omission or alleged omission to state in any Preliminary Prospectus, any Issuer Free Writing
Prospectus, any &quot;issuer information&quot; filed or required to be filed pursuant to Rule 433(d) of the Rules and Regulations,
the Registration Statement or the Prospectus, or in any amendment or supplement thereto or document incorporated by reference therein,
or in any Marketing Materials, a material fact required to be stated therein or necessary to make the statements therein not misleading,
and shall reimburse each Underwriter Indemnified Party promptly upon demand for any legal fees or other expenses reasonably incurred
by that Underwriter Indemnified Party in connection with investigating, or preparing to defend, or defending against, or appearing
as a third party witness in respect of, or otherwise incurred in connection with, any such loss, claim, damage, expense, liability,
action, investigation or proceeding, as such fees and expenses are incurred; <I>provided</I>, <I>however</I>, that the Company
shall not be liable in any such case to the extent that any such loss, claim, damage, expense or liability arises out of or is
based upon an untrue statement or alleged untrue statement in, or omission or alleged omission from any Preliminary Prospectus,
the Registration Statement or the Prospectus, or any such amendment or supplement thereto, any Issuer Free Writing Prospectus or
any Marketing Materials made in reliance upon and in conformity with written information furnished to the Company through the Representative
by or on behalf of any Underwriter specifically for use therein, which information the parties hereto agree is limited to the Underwriter&rsquo;s
Information.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; 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">The indemnity agreement in this
Section 7(a) is not exclusive and is in addition to each other liability which the Company might have under this Agreement or otherwise,
and shall not limit any rights or remedies which may otherwise be available under this Agreement, at law or in equity to any Underwriter
Indemnified Party.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&nbsp;</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">(b)&nbsp;&nbsp;<FONT STYLE="font-size: 10pt"><U>Indemnification
of Company by the Underwriters</U>. Each Underwriter, severally and not jointly, shall indemnify and hold harmless the Company
and its directors, its officers who signed the Registration Statement and each person, if any, who controls the Company within
the meaning of Section 15 of the Securities Act or Section 20 of the Exchange Act (collectively the &ldquo;<B>Company Indemnified
Parties</B>&rdquo; and each a &ldquo;<B><I>Company Indemnified Party</I></B>&rdquo;) against any loss, claim, damage, expense or
liability whatsoever (or any action, investigation or proceeding in respect thereof), joint or several, to which such Company Indemnified
Party may become subject, under the Securities Act or otherwise, insofar as such loss, claim, damage, expense, liability, action,
investigation or proceeding arises out of or is based upon (i) any untrue statement or alleged untrue statement of a material fact
contained in any Preliminary Prospectus, any Issuer Free Writing Prospectus, any &quot;issuer information&quot; filed or required
to be filed pursuant to Rule 433(d) of the Rules and Regulations, the Registration Statement or the Prospectus, or in any amendment
or supplement thereto, or (ii) the omission or alleged omission to state in any Preliminary Prospectus, any Issuer Free Writing
Prospectus, any &quot;issuer information&quot; filed or required to be filed pursuant to Rule 433(d) of the Rules and Regulations,
the Registration Statement or the Prospectus, or in any amendment or supplement thereto, a material fact required to be stated
therein or necessary to make the statements therein not misleading, but in each case only to the extent that the untrue statement
or alleged untrue statement or omission or alleged omission was made in reliance upon and in conformity with written information
furnished to the Company through the Representative by or on behalf of that Underwriter specifically for use therein, which information
the parties hereto agree is limited to the Underwriter&rsquo;s Information, and shall reimburse the Company Indemnified Parties
for any legal or other expenses reasonably incurred by such party in connection with investigating or preparing to defend or defending
against or appearing as third party witness in connection with any such loss, claim, damage, liability, action, investigation or
proceeding, as such fees and expenses are incurred. This indemnity agreement is not exclusive and will be in addition to any liability
which the Underwriters might otherwise have and shall not limit any rights or remedies which may otherwise be available under this
Agreement, at law or in equity to the Company Indemnified Parties.</FONT></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">(c)&nbsp;&nbsp;<FONT STYLE="font-size: 10pt">Promptly
after receipt by an indemnified party under this Section 7 of notice of the commencement of any action, the indemnified party shall,
if a claim in respect thereof is to be made against an indemnifying party under this Section 7, notify such indemnifying party
in writing of the commencement of that action; <I>provided, however,</I> that the failure to notify the indemnifying party shall
not relieve it from any liability which it may have under this Section 7 except to the extent it has been materially prejudiced
by such failure; and, <I>provided, further,</I> that the failure to notify an indemnifying party shall not relieve it from any
liability which it may have to an indemnified party otherwise than under this Section 7. If any such action shall be brought against
an indemnified party, and it shall notify the indemnifying party thereof, the indemnifying party shall be entitled to participate
therein and, to the extent that it wishes, jointly with any other similarly notified indemnifying party, to assume the defense
of such action with counsel reasonably satisfactory to the indemnified party (which counsel shall not, except with the written
consent of the indemnified party, be counsel to the indemnifying party). After notice from the indemnifying party to the indemnified
party of its election to assume the defense of such action, except as provided herein, the indemnifying party shall not be liable
to the indemnified party under Section 7 for any legal or other expenses subsequently incurred by the indemnified party in connection
with the defense of such action other than reasonable costs of investigation; <I>provided, however,</I> that any indemnified party
shall have the right to employ separate counsel in any such action and to participate in the defense of such action but the fees
and expenses of such counsel (other than reasonable costs of investigation) shall be at the expense of such indemnified party unless
(i) the employment thereof has been specifically authorized in writing by the Company in the case of a claim for indemnification
under Section 7(a) or the Representative in the case of a claim for indemnification under Section 7(b), (ii) such indemnified party
shall have been advised by its counsel that there may be one or more legal defenses available to it which are different from or
additional to those available to the indemnifying party, or (iii) the indemnifying party has failed to assume the defense of such
action and employ counsel reasonably satisfactory to the indemnified party within a reasonable period of time after notice of the
commencement of the action or the indemnifying party does not diligently defend the action after assumption of the defense, in
which case, if such indemnified party notifies the indemnifying party in writing that it elects to employ separate counsel at the
expense of the indemnifying party, the indemnifying party shall not have the right to assume the defense of (or, in the case of
a failure to diligently defend the action after assumption of the defense, to continue to defend) such action on behalf of such
indemnified party and the indemnifying party shall be responsible for legal or other expenses subsequently incurred by such indemnified
party in connection with the defense of such action; <I>provided</I>, <I>however</I>, that the indemnifying party shall not, in
connection with any one such action or separate but substantially similar or related actions in the same jurisdiction arising out
of the same general allegations or circumstances, be liable for the reasonable fees and expenses of more than one separate firm
of attorneys at any time for all such indemnified parties (in addition to any local counsel), which firm shall be designated in
writing by the Representative if the indemnified parties under this Section 7 consist of any Underwriter Indemnified Party or by
the Company if the indemnified parties under this Section&nbsp;7 consist of any Company Indemnified Parties. Subject to this Section
7(c), the amount payable by an indemnifying party under Section 7 shall include, but not be limited to, (x) reasonable legal fees
and expenses of counsel to the indemnified party and any other expenses in investigating, or preparing to defend or defending against,
or appearing as a third party witness in respect of, or otherwise incurred in connection with, any action, investigation, proceeding
or claim, and (y) all amounts paid in settlement of any of the foregoing. No indemnifying party shall, without the prior written
consent of the indemnified parties, settle or compromise or consent to the entry of judgment with respect to any pending or threatened
action or any claim whatsoever, in respect of which indemnification or contribution could be sought under this Section 7 (whether
or not the indemnified parties are actual or potential parties thereto), unless such settlement, compromise or consent (i) includes
an unconditional release of each indemnified party in form and substance reasonably satisfactory to such indemnified party from
all liability arising out of such action or claim and (ii) does not include a statement as to or an admission of fault, culpability
or a failure to act by or on behalf of any indemnified party. Subject to the provisions of the following sentence, no indemnifying
party shall be liable for settlement of any pending or threatened action or any claim whatsoever that is effected without its written
consent (which consent shall not be unreasonably withheld or delayed), but if settled with its written consent, if its consent
has been unreasonably withheld or delayed or if there be a judgment for the plaintiff in any such matter, the indemnifying party
agrees to indemnify and hold harmless any indemnified party from and against any loss or liability by reason of such settlement
or judgment. In addition, if at any time an indemnified party shall have requested that an indemnifying party reimburse the indemnified
party for fees and expenses of counsel, such indemnifying party agrees that it shall be liable for any settlement of the nature
contemplated by Section 7(a) or 7(b) effected without its written consent if (i) such settlement is entered into more than forty-five
(45) days after receipt by such indemnifying party of the request for reimbursement, (ii) such indemnifying party shall have received
notice of the terms of such settlement at least thirty (30) days prior to such settlement being entered into and (iii)&nbsp;such
indemnifying party shall not have reimbursed such indemnified party in accordance with such request prior to the date of such settlement.
</FONT></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">(d)&nbsp;&nbsp;<FONT STYLE="font-size: 10pt">If
the indemnification provided for in this Section 7 is unavailable or insufficient to hold harmless an indemnified party under Section
7(a) or 7(b), then each indemnifying party shall, in lieu of indemnifying such indemnified party, contribute to the amount paid,
payable or otherwise incurred by such indemnified party as a result of such loss, claim, damage, expense or liability (or any action,
investigation or proceeding in respect thereof), as incurred, (i) in such proportion as shall be appropriate to reflect the relative
benefits received by the Company on the one hand and the Underwriters on the other from the offering of the Shares, or (ii) if
the allocation provided by clause (i) of this Section 7(d) is not permitted by applicable law, in such proportion as is appropriate
to reflect not only the relative benefits referred to in clause (i) of this Section 7(d) but also the relative fault of the Company
on the one hand and the Underwriters on the other with respect to the statements, omissions, acts or failures to act which resulted
in such loss, claim, damage, expense or liability (or any action, investigation or proceeding in respect thereof) as well as any
other relevant equitable considerations. The relative benefits received by the Company on the one hand and the Underwriters on
the other with respect to such offering shall be deemed to be in the same proportion as the total net proceeds from the offering
of the Shares purchased under this Agreement (before deducting expenses) received by the Company bear to the total underwriting
discounts and commissions received by the Underwriters with respect to the Shares purchased under this Agreement, in each case
as set forth in the table on the cover page of the Prospectus. The relative fault of the Company on the one hand and the Underwriters
on the other shall be determined by reference to, among other things, whether the untrue or alleged untrue statement of a material
fact or the omission or alleged omission to state a material fact relates to information supplied by the Company on the one hand
or the Underwriters on the other, the intent of the parties and their relative knowledge, access to information and opportunity
to correct or prevent such untrue statement, omission, act or failure to act; <I>provided</I> that the parties hereto agree that
the written information furnished to the Company through the Representative by or on behalf of the Underwriters for use in the
Preliminary Prospectus, the Registration Statement or the Prospectus, or in any amendment or supplement thereto, consists solely
of the Underwriter&rsquo;s Information. </FONT></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"></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">(e)&nbsp;&nbsp;<FONT STYLE="font-size: 10pt">The
Company and the Underwriters agree that it would not be just and equitable if contributions pursuant to Section 7(d) above were
to be determined by pro rata allocation or by any other method of allocation which does not take into account the equitable considerations
referred to Section 7(d) above. The amount paid or payable by an indemnified party as a result of the loss, claim, damage, expense,
liability, action, investigation or proceeding referred to in Section 7(d) above shall be deemed to include, subject to the limitations
set forth above, any legal or other expenses reasonably incurred by such indemnified party in connection with investigating, preparing
to defend or defending against or appearing as a third party witness in respect of, or otherwise incurred in connection with, any
such loss, claim, damage, expense, liability, action, investigation or proceeding. Notwithstanding the provisions of this Section
7, no Underwriters shall be required to contribute any amount in excess of the amount by which the total underwriting discounts
and commissions received by such Underwriter with respect to the offering of the Shares exceeds the amount of any damages which
the Underwriter has otherwise paid or become liable to pay by reason of any untrue or alleged untrue statement, omission or alleged
omission, act or alleged act or failure to act or alleged failure to act. No person guilty of fraudulent misrepresentation (within
the meaning of Section 11(f) of the Securities Act) shall be entitled to contribution from any person who was not guilty of such
fraudulent misrepresentation. The Underwriters&rsquo; obligations to contribute as provided in this Section 7 are several in proportion
to their respective underwriting obligations and not joint.</FONT></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; text-align: justify; text-indent: 0in">8.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT STYLE="font-variant: small-caps"><I>Termination</I>.</FONT>
The obligations of the Underwriters hereunder may be terminated by the Representative, in its absolute discretion by notice given
to the Company prior to delivery of and payment for the Firm Shares if, prior to that time, any of the events described in Sections
6(j), 6(k) and 6(l) have occurred or if the Underwriters shall decline to purchase the Shares for any reason permitted under this
Agreement.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">9.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT STYLE="font-variant: small-caps"><I>Reimbursement
of Underwriters&rsquo; Expenses</I></FONT>. Notwithstanding anything to the contrary in this Agreement, if (a) this Agreement shall
have been terminated pursuant to Section 8 or 10, (b) the Company shall fail to tender the Shares for delivery to the Underwriters
for any reason not permitted under this Agreement, (c) the Underwriters shall decline to purchase the Shares for any reason permitted
under this Agreement or (d) the sale of the Shares is not consummated because any condition to the obligations of the Underwriters
set forth herein is not satisfied or because of the refusal, inability or failure on the part of the Company to perform any agreement
herein or to satisfy any condition or to comply with the provisions hereof, then in addition to the payment of amounts in accordance
with Section 5, the Company shall reimburse the Underwriters for the fees and expenses of Underwriters&rsquo; counsel and for such
other out-of-pocket expenses as shall have been reasonably incurred by them in connection with this Agreement and the proposed
purchase of the Shares, including, without limitation, travel and lodging expenses of the Underwriters, and upon demand the Company
shall pay the full amount thereof to the Representative; <I>provided</I> that if this Agreement is terminated pursuant to Section
10 by reason of the default of one or more Underwriters, the Company shall not be obligated to reimburse any defaulting Underwriter
on account of expenses to the extent incurred by such defaulting Underwriter; <I>provided further</I> that the foregoing shall
not limit any reimbursement obligation of the Company to any non-defaulting Underwriter under this Section 9.</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">10.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT STYLE="font-variant: small-caps"><I>Substitution
of Underwriters</I></FONT>. If any Underwriter or Underwriters shall default in its or their obligations to purchase shares of
Shares hereunder on any Closing Date and the aggregate number of shares which such defaulting Underwriter or Underwriters agreed
but failed to purchase does not exceed ten percent (10%) of the total number of shares to be purchased by all Underwriters on such
Closing Date, the other Underwriters shall be obligated severally, in proportion to their respective commitments hereunder, to
purchase the shares which such defaulting Underwriter or Underwriters agreed but failed to purchase on such Closing Date. If any
Underwriter or Underwriters shall so default and the aggregate number of shares with respect to which such default or defaults
occur is more than ten percent (10%) of the total number of shares to be purchased by all Underwriters on such Closing Date and
arrangements satisfactory to the Representative and the Company for the purchase of such shares by other persons are not made within
forty-eight (48) hours after such default, this Agreement shall terminate.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">If the remaining Underwriters
or substituted Underwriters are required hereby or agree to take up all or part of the shares of Shares of a defaulting Underwriter
or Underwriters on such Closing Date as provided in this Section&nbsp;11, (i) the Company shall have the right to postpone such
Closing Date for a period of not more than five (5) full business days in order that the Company may effect whatever changes may
thereby be made necessary in the Registration Statement or the Prospectus, or in any other documents or arrangements, and the Company
agrees promptly to file any amendments to the Registration Statement or supplements to the Prospectus which may thereby be made
necessary, and (ii) the respective numbers of Shares to be purchased by the remaining Underwriters or substituted Underwriters
shall be taken as the basis of their underwriting obligation for all purposes of this Agreement. Nothing herein contained shall
relieve any defaulting Underwriter of its liability to the Company or the other Underwriters for damages occasioned by its default
hereunder. Any termination of this Agreement pursuant to this Section 10 shall be without liability on the part of any non-defaulting
Underwriter or the Company, except that the representations, warranties, covenants, indemnities, agreements and other statements
set forth in Section 2, the obligations with respect to expenses to be paid or reimbursed pursuant to Sections 5 and 9 and the
provisions of Section 7 and Sections 11 through 21, inclusive, shall not terminate and shall remain in full force and effect.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">11.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT STYLE="font-variant: small-caps"><I>Absence
of Fiduciary Relationship. </I></FONT> The Company acknowledges and agrees that:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; 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">(a) &#9;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;each Underwriter&rsquo;s
responsibility to the Company is solely contractual in nature, the Representative has been retained solely to act as underwriter
in connection with the sale of the Shares and no fiduciary, advisory or agency relationship between the Company and the Representatives
has been created in respect of any of the transactions contemplated by this Agreement, irrespective of whether the Representative
has advised or is advising the Company on other matters;</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">(b) &#9;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;the price of the Shares
set forth in this Agreement was established by the Company following discussions and arms-length negotiations with the Representative,
and the Company is capable of evaluating and understanding, and understands and accepts, the terms, risks and conditions of the
transactions contemplated by this Agreement;</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">(c) &#9;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;it has been advised that
the Representative and its affiliates are engaged in a broad range of transactions which may involve interests that differ from
those of the Company and that the Representative has no obligation to disclose such interests and transactions to the Company by
virtue of any fiduciary, advisory or agency relationship; and</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">(d) &#9;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;it waives, to the fullest
extent permitted by law, any claims it may have against the Representative for breach of fiduciary duty or alleged breach of fiduciary
duty and agrees that the Representative shall have no liability (whether direct or indirect) to the Company in respect of such
a fiduciary duty claim or to any person asserting a fiduciary duty claim on behalf of or in right of the Company, including shareholders,
employees or creditors of the Company.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">12.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT STYLE="font-variant: small-caps"><I>Successors;
Persons Entitled to Benefit of Agreement</I></FONT>. This Agreement shall inure to the benefit of and be binding upon the several
Underwriters and the Company and its successors and assigns. Nothing expressed or mentioned in this Agreement is intended or shall
be construed to give any person, other than the persons mentioned in the preceding sentence, any legal or equitable right, remedy
or claim under or in respect of this Agreement, or any provisions herein contained, this Agreement and all conditions and provisions
hereof being intended to be and being for the sole and exclusive benefit of such persons and for the benefit of no other person;
except that the representations, warranties, covenants, agreements and indemnities of the Company contained in this Agreement shall
also be for the benefit of the Underwriter Indemnified Parties, and the indemnities of the several Underwriters shall be for the
benefit of the Company Indemnified Parties. It is understood that each Underwriter&rsquo;s responsibility to the Company is solely
contractual in nature and the Underwriters do not owe the Company, or any other party, any fiduciary duty as a result of this Agreement.
No purchaser of any of the Shares from any Underwriter shall be deemed to be a successor or assign by reason merely of such purchase.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">13.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT STYLE="font-variant: small-caps"><I>Survival
of Indemnities, Representations, Warranties, etc</I></FONT><I>. </I> The respective indemnities, covenants, agreements, representations,
warranties and other statements of the Company and the several Underwriters, as set forth in this Agreement or made by them respectively,
pursuant to this Agreement, shall remain in full force and effect, regardless of any investigation made by or on behalf of any
Underwriter, the Company or any person controlling any of them and shall survive delivery of and payment for the Shares. Notwithstanding
any termination of this Agreement, including without limitation any termination pursuant to Section 8 or Section 10, the indemnities,
covenants, agreements, representations, warranties and other statements forth in Sections 2, 5, 7 and 9 and Sections 11 through
21, inclusive, of this Agreement shall not terminate and shall remain in full force and effect at all times.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">14.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT STYLE="font-variant: small-caps"><I>Notices</I></FONT>.
All statements, requests, notices and agreements hereunder shall be in writing, and:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; 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">(a)&nbsp;&nbsp;<FONT STYLE="font-size: 10pt">if
to the Underwriters, shall be delivered or sent by mail, telex, facsimile transmission or email to Cowen and Company, LLC, Attention:
Head of Equity Capital Markets, Fax: 646-562-1249 with a copy to the General Counsel, Fax: 646-562-1124; and</FONT></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">(b)&nbsp;&nbsp;<FONT STYLE="font-size: 10pt">if
to the Company shall be delivered or sent by mail, telex, facsimile transmission or email to Supercom Ltd., Attention: Arie Trabelsi,
Chief Executive Officer, Fax:+971-9-8890820; </FONT></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"><I>provided,
however,</I> that any notice to an Underwriter pursuant to Section 8 shall be delivered or sent by mail, or facsimile transmission
to such Underwriter at its address set forth in its acceptance telex to the Representative, which address will be supplied to any
other party hereto by the Representative upon request. Any such statements, requests, notices or agreements shall take effect at
the time of receipt thereof.</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; text-align: justify; text-indent: 0in">15.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT STYLE="font-variant: small-caps"><I>Definition
of Certain Terms</I></FONT>. For purposes of this Agreement, (a) &ldquo;<B><I>affiliate</I></B>&rdquo; has the meaning set forth
in Rule 405 under the Securities Act, (b) &ldquo;<B><I>business day</I></B>&rdquo; means any day on which the New York Shares Exchange,
Inc. is open for trading and (c) &ldquo;<B><I>subsidiary</I></B>&rdquo; has the meaning set forth in Rule&nbsp;405 of the Rules
and Regulations.</P>

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


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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0">16.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT STYLE="font-variant: small-caps"><B><I>Governing
Law, Agent For Service and Jurisdiction</I></B><I>.</I></FONT><B> This Agreement shall be governed by and construed in accordance
with the laws of the State of New York, including without limitation Section 5-1401 of the New York General Obligations. </B>The
Company irrevocably appoints SuperCom, Inc., with offices at 902 Broadway, New York, New York 10010<I> (</I>and its successors)
as its authorized agent in the Borough of Manhattan in The City of New York upon which process may be served in any such suit or
proceeding, and agrees that service of process upon such agent, and written notice of said service to the Company by the person
serving the same to the address provided in Section 15, shall be deemed in every respect effective service of process upon the
Company in any such suit or proceeding. The Company irrevocably (a) submits to the non-exclusive jurisdiction of the Federal and
state courts in the Borough of Manhattan in The City of New York for the purpose of any suit, action or other proceeding arising
out of this Agreement or the transactions contemplated by this Agreement, the Registration Statement and any Preliminary Prospectus
or the Prospectus, (b) agrees that all claims in respect of any such suit, action or proceeding may be heard and determined by
any such court, (c) waives to the fullest extent permitted by applicable law, any immunity from the jurisdiction of any such court
or from any legal process, (d) agrees not to commence any such suit, action or proceeding other than in such courts, and (e) waives,
to the fullest extent permitted by applicable law, any claim that any such suit, action or proceeding is brought in an inconvenient
forum.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">17.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT STYLE="font-variant: small-caps"><I>Underwriters&rsquo;
Information</I></FONT><I>.</I> The parties hereto acknowledge and agree that, for all purposes of this Agreement, the Underwriters&rsquo;
Information consists solely of the following information in the Prospectus: (i) the last paragraph on the front cover page concerning
the terms of the offering by the Underwriters; and (ii) the statements concerning the Underwriters contained in the &ldquo;Underwriting&rdquo;
section of the Prospectus Supplement and General Disclosure Package, only insofar as such statements relate to stabilization, covering
transactions and penalty bids by the Underwriters, the amount of selling concession and re-allowance or to over-allotment and related
activities that may be undertaken by the Underwriters.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">18.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT STYLE="font-variant: small-caps"><I>Authority
of the Representative</I></FONT>. In connection with this Agreement, the Representative will act for and on behalf of the several
Underwriters, and any action taken under this Agreement by the Representative, will be binding on all the Underwriters.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">19.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT STYLE="font-variant: small-caps"><I>Partial
Unenforceability</I>. </FONT>The invalidity or unenforceability of any section, paragraph, clause or provision of this Agreement
shall not affect the validity or enforceability of any other section, paragraph, clause or provision hereof. If any section, paragraph,
clause or provision of this Agreement is for any reason determined to be invalid or unenforceable, there shall be deemed to be
made such minor changes (and only such minor changes) as are necessary to make it valid and enforceable.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">20.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT STYLE="font-variant: small-caps"><I>General</I></FONT>.
This Agreement constitutes the entire agreement of the parties to this Agreement and supersedes all prior written or oral and all
contemporaneous oral agreements, understandings and negotiations with respect to the subject matter hereof. In this Agreement,
the masculine, feminine and neuter genders and the singular and the plural include one another. The section headings in this Agreement
are for the convenience of the parties only and will not affect the construction or interpretation of this Agreement. This Agreement
may be amended or modified, and the observance of any term of this Agreement may be waived, only by a writing signed by the Company
and the Representative.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">21.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT STYLE="font-variant: small-caps"><I>Counterparts</I></FONT>.
This Agreement may be signed in any number of counterparts, each of which shall be an original, with the same effect as if the
signatures thereto and hereto were upon the same instrument.</P>

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


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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">If the foregoing is
in accordance with your understanding please indicate your acceptance of this Agreement by signing in the space provided for that
purpose below.</P>

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: left">Very truly yours,</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: left">SUPERCOM LTD.</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 50%; text-align: left">&nbsp;</TD>
    <TD STYLE="width: 3%; text-align: left">&nbsp;</TD>
    <TD STYLE="width: 47%; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">By:</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">/s/ Arie Trabelsi</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">Name: Arie Trabelsi</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">Title: Chief Executive Officer</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">Accepted as of<BR>
the date first above written:</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left"><FONT STYLE="font-variant: small-caps">Cowen
and Company, LLC</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">Acting on its own behalf<BR>
and as Representative of several<BR>
Underwriters listed on <U>Schedule A</U> to this<BR>
Agreement.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">By:<FONT STYLE="font-variant: small-caps">
Cowen and Company, LLC</FONT></P>

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 3%; text-align: left; font-weight: bold"><FONT STYLE="font-weight: normal">By<FONT STYLE="font-style: normal">:</FONT></FONT></TD>
    <TD STYLE="width: 47%; border-bottom: Black 1pt solid; text-align: left; font-weight: bold"><FONT STYLE="font-weight: normal; font-style: normal">/s/
    Andrew Mertz</FONT></TD>
    <TD STYLE="width: 50%; text-align: left; font-weight: bold"><FONT STYLE="font-weight: normal; font-style: normal">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: left; font-weight: bold"><FONT STYLE="font-weight: normal; font-style: normal">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="text-align: left; font-weight: bold"><FONT STYLE="font-weight: normal; font-style: normal">Name: Andrew
    Mertz</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: left; font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="2">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left"><FONT STYLE="font-weight: normal">Title: Managing Director</FONT></P></TD></TR>
</TABLE>



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

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

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

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

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom">
    <TD NOWRAP STYLE="text-align: center; border-bottom: Black 1pt solid">Name</TD><TD NOWRAP STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="text-align: center; border-bottom: Black 1pt solid">Number of Shares of<BR> Firm Shares to be<BR> Purchased</TD><TD NOWRAP STYLE="padding-bottom: 1pt">&nbsp;</TD><TD NOWRAP STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="text-align: center; border-bottom: Black 1pt solid">Number of Shares of<BR> Optional Shares to be<BR> Purchased</TD><TD NOWRAP STYLE="padding-bottom: 1pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: center">&nbsp;</TD><TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: center">&nbsp;</TD><TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: center">&nbsp;</TD><TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="width: 68%; text-align: left; padding-bottom: 1pt">Cowen and Company, LLC</TD><TD STYLE="width: 2%; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left; border-bottom: Black 1pt solid">&nbsp;</TD><TD STYLE="width: 12%; text-align: right; border-bottom: Black 1pt solid">1,260,000</TD><TD STYLE="width: 1%; text-align: left; padding-bottom: 1pt">&nbsp;</TD><TD STYLE="width: 2%; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left; border-bottom: Black 1pt solid">&nbsp;</TD><TD STYLE="width: 12%; text-align: right; border-bottom: Black 1pt solid">189,000</TD><TD STYLE="width: 1%; text-align: left; padding-bottom: 1pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">B. Riley &amp; Co., LLC</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left; border-bottom: Black 1pt solid">&nbsp;</TD><TD STYLE="text-align: right; border-bottom: Black 1pt solid">367,500</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left; border-bottom: Black 1pt solid">&nbsp;</TD><TD STYLE="text-align: right; border-bottom: Black 1pt solid">55,125</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left">Craig-Hallum Capital Group LLC</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left; border-bottom: Black 1pt solid">&nbsp;</TD><TD STYLE="text-align: right; border-bottom: Black 1pt solid">367,500</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: right; border-bottom: Black 1pt solid">&nbsp;</TD><TD STYLE="text-align: right; border-bottom: Black 1pt solid">55,125</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">Feltl and Company, Inc.</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left; border-bottom: Black 1pt solid">&nbsp;</TD><TD STYLE="text-align: right; border-bottom: Black 1pt solid">105,000</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left; border-bottom: Black 1pt solid">&nbsp;</TD><TD STYLE="text-align: right; border-bottom: Black 1pt solid">15,750</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; padding-bottom: 2.5pt; padding-left: 0.5in">Total</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="text-align: left; border-bottom: Black 2.5pt double">&nbsp;</TD><TD STYLE="text-align: right; border-bottom: Black 2.5pt double">2,100,000</TD><TD STYLE="text-align: left; padding-bottom: 2.5pt">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="text-align: left; border-bottom: Black 2.5pt double">&nbsp;</TD><TD STYLE="text-align: right; border-bottom: Black 2.5pt double">315,000</TD><TD STYLE="text-align: left; padding-bottom: 2.5pt">&nbsp;</TD></TR>
</TABLE>


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

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

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



<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">SCHEDULE<FONT STYLE="font-weight: normal">
</FONT>B</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">None</P>

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


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    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

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

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">SCHEDULE<FONT STYLE="font-weight: normal">
C</FONT></P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Firm Shares to be Sold: 2,100,000
shares</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Offering Price: $12.00 per share</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Underwriting Discounts and Commissions:
6%</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">Estimated Net Proceeds to the Company (after
underwriting discounts and commissions, but before transaction expenses): $23,688,000</P>

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


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    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>List of officers, directors, and shareholders,
subject to Section 4(i)(l)</B></P>

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

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

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

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

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

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

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

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

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B><U>Officers/Key Employees</U></B></P>

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B><U>5%+ Shareholders</U></B></P>

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

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

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


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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>Form of Lock-Up Agreement</B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right">June 11, 2015</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left"><FONT STYLE="font-variant: small-caps">Cowen
and Company, LLC</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: left">As Representative of the several
Underwriters</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">c/o Cowen and Company, LLC<BR>
599 Lexington Avenue<BR>
New York, New York 10022</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Re: <U>SuperCom Ltd. &ndash; Registration
Statement on Form F-3; Sale of Ordinary Shares</U></P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">This Agreement is being delivered to you
in connection with the proposed Underwriting Agreement (the &ldquo;Underwriting Agreement&rdquo;) between SuperCom Ltd., an Israeli
company (the &ldquo;Company&rdquo;), and Cowen and Company, LLC (&ldquo;Cowen&rdquo;), as representative (the &ldquo;Representative&rdquo;)
of a group of underwriters (collectively, the &ldquo;Underwriters&rdquo;), to be named therein, and the other parties thereto (if
any), relating to the proposed public offering of ordinary shares (the &ldquo;Offering&rdquo;), par value NIS 0.25 per share (the
&ldquo;Ordinary Shares&rdquo;) of the Company.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">In order to induce you and the other Underwriters
to enter into the Underwriting Agreement, and in light of the benefits that the offering of the Ordinary Shares will confer upon
the undersigned in its capacity as a securityholder and/or an officer, director or employee of the Company, and for good and valuable
consideration, the receipt and sufficiency of which are hereby acknowledged, the undersigned agrees with each Underwriter that,
during the period beginning on the date hereof through and including the date that is the 90th day after the date of the Underwriting
Agreement (the &ldquo;Lock-Up Period&rdquo;), the undersigned will not, without the prior written consent of the Representative,
directly or indirectly, (i) offer, sell, assign, transfer, pledge, contract to sell, or otherwise dispose of, or announce the intention
to otherwise dispose of, any Ordinary Shares (including, without limitation, Ordinary Shares which may be deemed to be beneficially
owned by the undersigned in accordance with the rules and regulations promulgated under the Securities Act of 1933, as the same
may be amended or supplemented from time to time (such shares, the &ldquo;Beneficially Owned Shares&rdquo;)) or securities convertible
into or exercisable or exchangeable for Ordinary Shares, (ii) enter into any swap, hedge or similar agreement or arrangement that
transfers in whole or in part, the economic risk of ownership of the Beneficially Owned Shares or securities convertible into or
exercisable or exchangeable for Ordinary Shares, whether now owned or hereafter acquired by the undersigned or with respect to
which the undersigned has or hereafter acquires the power of disposition, or (iii) engage in any short selling of the Ordinary
Shares or securities convertible into or exercisable or exchangeable for Ordinary Shares.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">If (i) the Company issues an earnings release
or material news or a material event relating to the Company occurs during the last 17 days of the Lock-Up Period, or (ii) prior
to the expiration of the Lock-Up Period, the Company announces that it will release earnings results during the 16-day period beginning
on the last day of the Lock-Up Period, the Lock-Up Period shall be extended and the restrictions imposed by this Agreement shall
continue to apply until the expiration of the 18-day period beginning on the issuance of the earnings release or the occurrence
of the material news or material event, except that such extension will not apply if, (i) the Ordinary Shares are an &ldquo;actively
traded security&rdquo; (as defined in Regulation M under the Securities Exchange Act of 1934, as amended (the &ldquo;Exchange Act&rdquo;)),
(ii) the Company meets the applicable requirements of Rule 139(a)(1) under the Securities Act in the manner contemplated by NASD
Conduct Rule 2711(f)(4) and (iii) the provisions of NASD Conduct Rule 2711(f)(4) do not restrict the publication or distribution,
by any of the Underwriters, of any research reports relating to the Company during the 15 days before or after the last day of
the Lock-Up Period (before giving effect to such extension).</P>

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


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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The restrictions set forth in the preceding
paragraphs shall not apply to:</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">(1)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;if
the undersigned is a natural person, any transfers made by the undersigned (a)&nbsp;as a bona fide gift to any member of the immediate
family (as defined below) of the undersigned or to a trust the beneficiaries of which are exclusively the undersigned or members
of the undersigned&rsquo;s immediate family, (b)&nbsp;by will or intestate succession upon the death of the undersigned or (c)&nbsp;as
a bona fide gift to a charity or educational institution,</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">(2)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;if
the undersigned is a corporation, partnership, limited liability company or other business entity, any transfers to any stockholder,
partner or member of, or owner of a similar equity interest in, the undersigned, as the case may be, if, in any such case, such
transfer is not for value,</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">(3)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;if
the undersigned is a corporation, partnership, limited liability company or other business entity, any transfer made by the undersigned
(a) in connection with the sale or other bona fide transfer in a single transaction of all or substantially all of the undersigned&rsquo;s
capital stock, partnership interests, membership interests or other similar equity interests, as the case may be, or all or substantially
all of the undersigned&rsquo;s assets, in any such case not undertaken for the purpose of avoiding the restrictions imposed by
this agreement or (b) to another corporation, partnership, limited liability company or other business entity so long as the transferee
is an affiliate (as defined below) of the undersigned and such transfer is not for value,</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">(4)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;transactions
relating to Ordinary Shares or other securities convertible into or exercisable or exchangeable for Ordinary Shares acquired in
open market transactions after completion of the Offering, provided that no such transaction is required to be, or is, publicly
announced (whether on Form 4, Form 5 or otherwise) during the Lock-Up Period,</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">(5)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;the
entry, by the undersigned, at any time on or after the date of the Underwriting Agreement, of any trading plan providing for the
sale of Ordinary Shares by the undersigned, which trading plan meets the requirements of Rule 10b5-1(c) under the Exchange Act,
provided, however, that such plan does not provide for, or permit, the sale of any Ordinary Shares during the Lock-up Period and
no public announcement or filing is voluntarily made or required regarding such plan during the Lock-Up Period,</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">(6)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;any transfers made by the
undersigned to the Company to satisfy tax withholding obligations pursuant to the Company&rsquo;s equity incentive plans or arrangements
in effect as of the date hereof in connection with the vesting or exercise of the Company&rsquo;s securities issued pursuant to
such plan or arrangements; and</P>

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


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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">provided, however, that in the case of
any transfer described in clause&nbsp;(1), (2) or (3)&nbsp;above, it shall be a condition to the transfer that (A)&nbsp;the transferee
executes and delivers to the Representative, acting on behalf of the Underwriters, not later than one business day prior to such
transfer, a written agreement, in substantially the form of this agreement (it being understood that any references to &ldquo;immediate
family&rdquo; in the agreement executed by such transferee shall expressly refer only to the immediate family of the undersigned
and not to the immediate family of the transferee) and otherwise satisfactory in form and substance to the Representative, and
(B) in the case of any transfer described in clause (1), (2), (3) or (6) above, &nbsp;if the undersigned is required to file a
report under Section&nbsp;16(a) of the Securities Exchange Act of 1934, as amended, reporting a reduction in beneficial ownership
of Ordinary Shares or Beneficially Owned Shares or any securities convertible into or exercisable or exchangeable for Ordinary
Shares or Beneficially Owned Shares during the Lock-Up Period (as the same may be extended as described above), the undersigned
shall include a statement in such report to the effect that, (A) in the case of any transfer pursuant to clause&nbsp;(1) above,
such transfer is being made as a gift or by will or intestate succession, (B) in the case of any transfer pursuant to clause&nbsp;(2)
above, such transfer is being made to a stockholder, partner or member of, or owner of a similar equity interest in, the undersigned
and is not a transfer for value, (C) in the case of any transfer pursuant to clause (3) above, such transfer is being made either
(a) in connection with the sale or other bona fide transfer in a single transaction of all or substantially all of the undersigned&rsquo;s
capital stock, partnership interests, membership interests or other similar equity interests, as the case may be, or all or substantially
all of the undersigned&rsquo;s assets or (b) to another corporation, partnership, limited liability company or other business entity
that is an affiliate of the undersigned and such transfer is not for value, (D) in the case of any transfer pursuant to clause
(6) above, such transfer is being made to satisfy tax withholding obligations. For purposes of this paragraph, &ldquo;immediate
family&rdquo; shall mean a spouse, child, grandchild or other lineal descendant (including by adoption), father, mother, brother
or sister of the undersigned; and &ldquo;affiliate&rdquo; shall have the meaning set forth in Rule 405 under the Securities Act
of 1933, as amended.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">For the avoidance of doubt, nothing in
this Agreement prohibits the undersigned from exercising any options or warrants to purchase Ordinary Shares (which exercises may
be effected on a cashless basis to the extent the instruments representing such options or warrants permit exercises on a cashless
basis), it being understood that any Ordinary Shares issued upon any such exercise will be subject to the restrictions of this
Agreement.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">In order to enable this covenant to be
enforced, the undersigned hereby consents to the placing of legends or stop transfer instructions with the Company&rsquo;s transfer
agent with respect to any Ordinary Shares or securities convertible into or exercisable or exchangeable for Ordinary Shares.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The undersigned further agrees that it
will not, during the Lock-Up Period (as the same may be extended as described above), make any demand or request for or exercise
any right with respect to the registration under the Securities Act of 1933, as amended, of any Ordinary Shares or other Beneficially
Owned Shares or any securities convertible into or exercisable or exchangeable for Ordinary Shares or other Beneficially Owned
Shares.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">This Agreement and all authority herein
conferred are irrevocable and shall survive the death or incapacity of the undersigned and shall be binding upon the heirs, personal
representatives, successors and assigns of the undersigned.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The undersigned hereby represents and warrants
that the undersigned has full power and authority to enter into this agreement and that this agreement has been duly authorized
(if the undersigned is not a natural person), executed and delivered by the undersigned and is a valid and binding agreement of
the undersigned. This agreement and all authority herein conferred are irrevocable and shall survive the death or incapacity of
the undersigned (if a natural person) and shall be binding upon the heirs, personal representatives, successors and assigns of
the undersigned.</P>

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


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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">This Agreement shall be governed by and
construed in accordance with the internal laws of the State of New York applicable to agreements made and to be performed in such
state.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">If (i) the Company notifies Cowen in writing
that it does not intend to proceed with the Offering, (ii) the Underwriting Agreement has not been executed on or before July 10,
2015, or (iii) the Underwriting Agreement (other than the provisions thereof which survive termination) shall terminate or be terminated
for any reason prior to payment for and delivery of any Ordinary Shares to be sold thereunder, then this Agreement shall immediately
be terminated and the undersigned shall automatically be released from all of his or her obligations under this Agreement.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">[Signature page follows]</P>

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


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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The undersigned acknowledges and agrees
that whether or not any public offering of Ordinary Shares actually occurs depends upon a number of factors, including market conditions.
For the avoidance of doubt, an electronic copy of this signature page, when duly executed, shall have the same validity and enforceability
as an original.</P>

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: left">Very truly yours,</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: left"><B>Printed Name of Signatory:</B></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: left">(Signature)</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: left">(Name of Signatory if an entity - Please Print)</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: left">(Title of Signatory if an entity - Please Print)</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 50%; text-align: left">&nbsp;</TD>
    <TD STYLE="width: 10%; text-align: left">Address:</TD>
    <TD STYLE="width: 40%; border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: left"><B>Date:&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;June ___, 2015</B></TD></TR>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Exhibit II</B></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">Form of Company Counsel Opinion</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: justify">&nbsp;</P>

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<DOCUMENT>
<TYPE>EX-5.1
<SEQUENCE>3
<FILENAME>v413474_ex5-1.htm
<DESCRIPTION>EXHIBIT 5.1
<TEXT>
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<P STYLE="margin-top: 0; text-align: right; margin-bottom: 0"><B>EXHIBIT 5.1&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><img src="tex5-1logo.jpg"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>&nbsp;</B></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="padding-right: 0.1in; border-right: Black 1pt solid"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><B>EXHIBIT 5.1</B></P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><B>Registration No. 333-197434</B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>Tel Aviv, June 18, 2015</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">Our file: 206073/19</P>

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">1 Arie Shenkar Street</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Hertzliya Pituach 4672514</P>

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

<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: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in"><B>Re: Underwritten Public Offering. </B></P>

<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: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.5in">Ladies and Gentlemen:</P>

<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: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Reference is made
to the Registration Statement on Form F-3 (File No. 333-197434) (including all amendments thereto, the &ldquo;<B>Registration
Statement</B>&rdquo;) filed by SuperCom Ltd., a company organized under the laws of the State of Israel, (the
&ldquo;<B>Registrant</B>&rdquo; or the <B>&quot;Company&quot;</B>) with the Securities and Exchange Commission (the <B>&quot;Commission&quot;</B>)
pursuant to the Securities Act, 1933 (the <B>&quot;Act&quot;</B>) and declared effective on July 25, 2014. We are rendering
this supplemental opinion in connection with the prospectus supplement (the &quot;Prospectus Supplement&quot;) dated June 18,
2015 relating to the offering by the Company of 2,415,000 Ordinary Share , par value NIS0.25 of the Company, including
315,000 Ordinary Shares for which the underwriters in the offering have been granted an overallotment option (the <B>&quot;
Shares&quot;</B>), which Shares are covered by the Registration Statement. We understand that the Shares are to be offered
and sold in the manner set forth in the Registration Statement.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">We have acted as the Company's counsel in connection with the Prospectus Supplement. In such capacity we have examined such corporate records, certificates and other documents, and such questions of law, as we have considered necessary or appropriate for the purpose of this opinion, including, without limitation, the Registration Statement, the Prospectus Supplement, the Underwriting Agreement dated June 18, 2015, between the Company and </FONT>Cowen and Company, LLC, as Representative of the several underwriters,<FONT STYLE="font-size: 10pt"> (the <B>&quot;Underwriting Agreement&quot;</B>), the Company's Memorandum and Articles of Association, as amended as well as certain resolutions of the Board of Directors of the Company. As to any facts material to the opinion expressed herein, which were not independently established or verified, we have relied upon statements an representations of officers and other representatives of the Company.</FONT></P>

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

</TD>
    <TD STYLE="padding-left: 0.1in"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left"><FONT STYLE="font-size: 7pt"><B>David
Malkoff</B></FONT></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left"><FONT STYLE="font-size: 7pt"><B>Asher
Rabinowitz</B></FONT></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left"><FONT STYLE="font-size: 7pt"><B>Sarit
Molcho *</B></FONT></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left"><FONT STYLE="font-size: 7pt"><B>Itamar
Anaby</B></FONT></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left"><FONT STYLE="font-size: 7pt"><B>Doron
Schweppe</B></FONT></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left"><FONT STYLE="font-size: 7pt"><B>Lily
Doron</B></FONT></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left"><FONT STYLE="font-size: 7pt"><B>Amir
Cohen-Dor</B></FONT></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left"><FONT STYLE="font-size: 7pt"><B>Michael
Safran</B></FONT></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left"><FONT STYLE="font-size: 7pt"><B>Tal
Enat-Ben Arieh</B></FONT></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left"><FONT STYLE="font-size: 7pt"><B>Hadar
Tal</B></FONT></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left"><FONT STYLE="font-size: 7pt"><B>Ifat
Minzer-Koll</B></FONT></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left"><FONT STYLE="font-size: 7pt"><B>Gil
Hagay</B></FONT></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left"><FONT STYLE="font-size: 7pt"><B>Gavriel
Disegni</B></FONT></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left"><FONT STYLE="font-size: 7pt"><B>Nira
Cory</B></FONT></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left"><FONT STYLE="font-size: 7pt"><B>Yaniv
Kleinblatt</B></FONT></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left"><FONT STYLE="font-size: 7pt"><B>Oded
Rehan</B></FONT></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left"><FONT STYLE="font-size: 7pt"><B>Dr.
Tal Tirosh *</B></FONT></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left"><FONT STYLE="font-size: 7pt"><B>Arnon
Mainfeld *</B></FONT></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left"><FONT STYLE="font-size: 7pt"><B>Keren
Fischer Gutterman</B></FONT></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left"><FONT STYLE="font-size: 7pt"><B>Orit
Shaked-Shenkman</B></FONT></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left"><FONT STYLE="font-size: 7pt"><B>Yoad
Perets</B></FONT></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left"><FONT STYLE="font-size: 7pt"><B>Aviva
Zigmond</B></FONT></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left"><FONT STYLE="font-size: 7pt"><B>Terry
Almozlino-Arnon</B></FONT></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left"><FONT STYLE="font-size: 7pt"><B>Merav
Gilboa</B></FONT></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left"><FONT STYLE="font-size: 7pt"><B>Michal
Raveh (CPA<FONT STYLE="font-family: Times New Roman, Times, Serif">)</FONT></B></FONT></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left"><FONT STYLE="font-size: 7pt"><B>Einat
Wiener</B></FONT></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left"><FONT STYLE="font-size: 7pt"><B>Margalit
Apelbaum (CPA)</B></FONT></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left"><FONT STYLE="font-size: 7pt"><B>Efrat
Siboni</B></FONT></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left"><FONT STYLE="font-size: 7pt"><B>Hagar
Talmor</B></FONT></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left"><FONT STYLE="font-size: 7pt"><B>Roeen
Mardan</B></FONT></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left"><FONT STYLE="font-size: 7pt"><B>Maoz
Roth</B></FONT></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left"><FONT STYLE="font-size: 7pt"><B>Maya
Shlomi</B></FONT></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left"><FONT STYLE="font-size: 7pt"><B>Ofri
Maskit</B></FONT></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left"><FONT STYLE="font-size: 7pt"><B>Amit
Yinon</B></FONT></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left"><FONT STYLE="font-size: 7pt"><B>Roiy
Cohen</B></FONT></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left"><FONT STYLE="font-size: 7pt"><B>Ben
Gilad</B></FONT></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left"><FONT STYLE="font-size: 7pt"><B>Assaf
Cohen</B></FONT></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left"><FONT STYLE="font-size: 7pt"><B>Tali
Bismut-Katz</B></FONT></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left"><FONT STYLE="font-size: 7pt"><B>Naor
Cohen</B></FONT></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left"><FONT STYLE="font-size: 7pt"><B>Netta
Zur-Peleg</B>&nbsp;</FONT></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left"><FONT STYLE="font-size: 7pt"><B>Sharon
Haber-Osinsky</B></FONT></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left"><FONT STYLE="font-size: 7pt"><B>Keren
Waidberg</B></FONT></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left"><FONT STYLE="font-size: 7pt"><B>Tsahy
Alon</B></FONT></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left"><FONT STYLE="font-size: 7pt"><B>Gil
Herman</B></FONT></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left"><FONT STYLE="font-size: 7pt"><B>Amnon
Sharon</B></FONT></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left"><FONT STYLE="font-size: 7pt"><B>Amos
Oseasohn</B></FONT></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left"><FONT STYLE="font-size: 7pt"><B>Natan
Hoffman</B></FONT></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left"><FONT STYLE="font-size: 7pt"><B>Shoshi
Genzer</B></FONT></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left"><FONT STYLE="font-size: 7pt"><B>Nitzan
Nishlis</B></FONT></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left"><FONT STYLE="font-size: 7pt"><B>Yonatan
Fridman</B></FONT></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left"><FONT STYLE="font-size: 7pt"><B>Adi
Salem</B></FONT></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left"><FONT STYLE="font-size: 7pt"><B>Hadar
Arbel</B></FONT></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left"><FONT STYLE="font-size: 7pt"><B>Shiran
Mizrahi Vilbach</B></FONT></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left"><FONT STYLE="font-size: 7pt"><B>Natalie
Lorberboym</B></FONT></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left"><FONT STYLE="font-size: 7pt"><B>Doron
Woittiz</B></FONT></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left"><FONT STYLE="font-size: 7pt"><B>Ravit
Halevy-barzilai</B></FONT></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left"><FONT STYLE="font-size: 7pt"><B>Ariel
Shachar</B></FONT></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left"><FONT STYLE="font-size: 7pt"><B>&nbsp;</B></FONT></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left"><FONT STYLE="font-size: 7pt">Uri
        Yanovski - Of Counsel</FONT></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left"><FONT STYLE="font-size: 7pt">Amiram
Safran - Of Counsel</FONT></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left"><FONT STYLE="font-size: 7pt">Solly
Friedman</FONT></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left"><FONT STYLE="font-size: 7pt">(1913-2009)
- Founder</FONT></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 14.2pt; text-align: left; text-indent: -14.2pt"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 14.2pt; text-align: left; text-indent: -14.2pt"><FONT STYLE="font-size: 7pt">*&#9;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Also
a member of the New York Bar</FONT></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 14.2pt; text-align: left; text-indent: -14.2pt"><FONT STYLE="font-size: 7pt">**&#9;&nbsp;&nbsp;&nbsp;Also
a member of the Nevada Bar &amp; California Bar</FONT></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></P></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 40%; padding-right: 0.1in; border-right: Black 1pt solid"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left"><FONT STYLE="font-size: 7pt"><B>Tel-Aviv
        Office:</B></FONT></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left"><FONT STYLE="font-size: 7pt">2 Weizmann
        St.</FONT></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left"><FONT STYLE="font-size: 7pt">P.O.B.
        33123</FONT></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left"><FONT STYLE="font-size: 7pt">Tel-Aviv
        6133101, Israel</FONT></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left"><FONT STYLE="font-size: 7pt"><B>Tel.:
        </B>972-3-6931931</FONT></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left"><FONT STYLE="font-size: 7pt"><B>Fax:
        </B> 972-3-6931930</FONT></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left"><FONT STYLE="font-size: 7pt"><U>tel-aviv@friedman.co.il</U></FONT></P></TD>
    <TD STYLE="width: 40%; padding-left: 0.2in; padding-right: 0.1in; border-right: Black 1pt solid"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left"><FONT STYLE="font-size: 7pt"><B>Haifa
        Office:</B></FONT></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left"><FONT STYLE="font-size: 7pt">9 Andrei
        Sakharov St.</FONT></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left"><FONT STYLE="font-size: 7pt">P.O.B.
        15065</FONT></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left"><FONT STYLE="font-size: 7pt">Haifa
        3508409, Israel</FONT></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left"><FONT STYLE="font-size: 7pt"><B>Tel.:
        </B>972-4-8546666</FONT></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left"><FONT STYLE="font-size: 7pt"><B>Fax:
        </B>972-4-8546677</FONT></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left"><FONT STYLE="font-size: 7pt"><U>haifa@friedman.co.il</U></FONT></P></TD>
    <TD STYLE="text-align: left; direction: rtl; unicode-bidi: embed; font-size: 12pt; width: 20%; padding-left: 0.1in"><B><U>www.friedman.co.il</U></B></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

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


<!-- Field: Page; Sequence: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><img src="tex5-1logo.jpg"></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">We are members of the
Israel Bar and we express no opinion as to any matter relating to the laws of any jurisdiction other than the laws of Israel and
have not, for the purpose of giving this opinion, made any investigation of the laws of any other jurisdiction than Israel.&nbsp;&nbsp;The
opinion set forth herein is made as of the date hereof and is subject to, and may be limited by, future changes in the factual
matters set forth herein, and we undertake no duty to advise of the same. The opinion expressed herein is based upon the law in
effect (and published or otherwise generally available) on the date hereof, and we assume no obligation to revise or supplement
this opinion should such law be changed by legislative action, judicial decision or otherwise. In rendering our opinion, we have
not considered, and hereby disclaim any opinion as to, the application or impact of any laws, cases, decisions, rules or regulations
of any other jurisdiction, court or administrative agency. This opinion is expressly limited to the matters set forth herein, and
we render no opinion, whether by implication or otherwise, as to any other matters.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Based upon the foregoing,
we are of the opinion that the Shares have been duly authorized and, when issued and delivered by the Company against payment therefore
as stated in the Prospectus Supplement and the Underwriting Agreement, shall be validly issued fully paid and non-assessable.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">This opinion is being
rendered solely for the benefit of the Registrant in connection with the matters addressed herein. This opinion may not be furnished
to or relied upon by any person or entity for any purpose without my prior written consent. In giving this opinion, we do not thereby
concede that we are within the category of persons whose consent is required under Section 7 of the Act or the Rules and Regulations
of the Commission thereunder.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">We consent to the filing
of this opinion as an exhibit to the Registration Statement and to the references to my name under the headings &ldquo;Legal Matters&rdquo;
in the Prospectus which is a part of the Registration Statement.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: left; margin-left: 4.75in">Very truly yours,</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: left; margin-left: 4.75in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: left; margin-left: 4.75in">/s/
S. Friedman &amp; Co.</P>

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

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


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