<SEC-DOCUMENT>0001213900-23-027113.txt : 20230404
<SEC-HEADER>0001213900-23-027113.hdr.sgml : 20230404
<ACCEPTANCE-DATETIME>20230404162126
ACCESSION NUMBER:		0001213900-23-027113
CONFORMED SUBMISSION TYPE:	6-K
PUBLIC DOCUMENT COUNT:		4
CONFORMED PERIOD OF REPORT:	20230404
FILED AS OF DATE:		20230404
DATE AS OF CHANGE:		20230404

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			Inspira Technologies OXY B.H.N. Ltd
		CENTRAL INDEX KEY:			0001837493
		STANDARD INDUSTRIAL CLASSIFICATION:	SURGICAL & MEDICAL INSTRUMENTS & APPARATUS [3841]
		IRS NUMBER:				000000000
		STATE OF INCORPORATION:			L3
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		6-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-40303
		FILM NUMBER:		23797970

	BUSINESS ADDRESS:	
		STREET 1:		HATIDHAR 2
		STREET 2:		11TH FLOOR
		CITY:			RA'ANANA
		STATE:			L3
		ZIP:			4366504
		BUSINESS PHONE:		972-9-9664488

	MAIL ADDRESS:	
		STREET 1:		HATIDHAR 2
		STREET 2:		11TH FLOOR
		CITY:			RA'ANANA
		STATE:			L3
		ZIP:			4366504
</SEC-HEADER>
<DOCUMENT>
<TYPE>6-K
<SEQUENCE>1
<FILENAME>ea176407-6k_inspiratech.htm
<DESCRIPTION>REPORT OF FOREIGN PRIVATE ISSUER
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

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

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>FORM
6-K</B></FONT></P>

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>PURSUANT
TO RULE 13a-16 OR 15d-16</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>UNDER
THE SECURITIES EXCHANGE ACT OF 1934</B></FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>For
the Month of April 2023</B></FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Commission
File Number: 001-40303</B></FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Inspira
Technologies Oxy B.H.N. Ltd.</B></FONT></P>

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>2
Ha-Tidhar St.</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Ra&rsquo;anana
4366504, Israel</B></FONT></P>

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

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9746;&nbsp;Form
20-F&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#9744;&nbsp;Form 40-F</FONT></P>

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

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

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

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

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B><I>Execution
of Sales Agreement</I></B></FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">On
April 4, 2023, Inspira Technologies Oxy B.H.N. Ltd., or the Registrant, entered into a Sales Agreement, or the Sales Agreement, with
Roth Capital Partners, LLC, or the Sales Agent, pursuant to which the Registrant may offer and sell, from time to time, through the Sales
Agent, the Registrant&rsquo;s ordinary shares, no par value per share. The ordinary share will be offered and sold pursuant to the Registrant&rsquo;s
Registration Statement on <A HREF="http://www.sec.gov/Archives/edgar/data/1837493/000121390022046430/ea164081-f3_inspiratech.htm">Form F-3</A> (File No. 333-266748), or the Registration Statement, and a prospectus supplement to the Registration
Statement.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
Registrant is not obligated to sell any ordinary shares under the Sales Agreement. Subject to the terms and conditions of the Sales Agreement,
the Sales Agent will use commercially reasonable efforts consistent with their normal trading and sales practices, applicable state and
federal law, rules and regulations and the rules of The Nasdaq Capital Market to sell ordinary shares from time to time based upon the
Registrant&rsquo;s instructions, including any price, time or size limits specified by the Registrant. Upon delivery of a placement notice
to the Sales Agent, and subject to the Registrant&rsquo;s instructions in that notice, and the terms and conditions of the Sales Agreement
generally, the Sales Agent may sell the ordinary shares by any method permitted by law deemed to be an &ldquo;at the market offering&rdquo;
as defined by Rule 415(a)(4) promulgated under the Securities Act of 1933, as amended. The Sales Agent&rsquo;s obligations to sell ordinary
shares under the Sales Agreement is subject to satisfaction of certain conditions, and other customary closing conditions. The Registrant
will pay the Sales Agent a commission equal to 3.0% of the aggregate gross proceeds from each sale of ordinary shares and has agreed
to provide the Sales Agent with customary indemnification and contribution rights. The Registrant has also agreed to reimburse the Sales
Agent for certain specified expenses.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
foregoing summary of the Sales Agreement does not purport to be complete and is qualified in its entirety by reference to the Sales Agreement,
which is attached as Exhibit 99.1 to this Report and is incorporated herein by reference.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">A
copy of the opinion of Sullivan &amp; Worcester Tel-Aviv (Har-Even &amp; Co.) relating to the legality of the issuance and sale of the
ordinary shares is filed herewith as Exhibit 5.1.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">This
Report shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the ordinary shares
in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under
the securities laws of any such state or jurisdiction.&nbsp;This Report shall not constitute an offer to sell or the solicitation to
buy nor shall there be any sale of the ordinary shares in any state or jurisdiction in which such offer, solicitation or sale would be
unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; background-color: white">The
press release is incorporated by reference into the Registrant&rsquo;s Registration Statements on&nbsp;<A HREF="http://www.sec.gov/Archives/edgar/data/1837493/000121390022046430/ea164081-f3_inspiratech.htm">Form F-3</A>&nbsp;(Registration No.
333-266748) and&nbsp;<A HREF="http://www.sec.gov/Archives/edgar/data/1837493/000121390021044780/ea146415-s8_inspiratech.htm">Form S-8</A>&nbsp;(Registration No. 333-259057), filed with the Securities and Exchange Commission, to be a part thereof
from the date on which this report is submitted, to the extent not superseded by documents or reports subsequently filed or furnished.</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
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    <TD STYLE="border-bottom: black 1.5pt solid; vertical-align: top; width: 9%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Exhibit&nbsp;No.</B></FONT></TD>
    <TD STYLE="vertical-align: top; width: 1%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: bottom; width: 90%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: top; background-color: #CCEEFF">
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">1.1</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: justify"><A HREF="ea176407ex1-1_inspiratech.htm"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Sales Agreement by and between Inspira Technologies Oxy B.H.N. Ltd. and Roth Capital Partners, LLC, dated April 4, 2023 </FONT></A></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">5.1</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><A HREF="ea176407ex5-1_inspiratech.htm">Opinion of Sullivan &amp; Worcester Tel-Aviv (Har-Even &amp; Co.).</A></FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in; background-color: white"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

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

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">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, thereunto duly authorized.</FONT></P>

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: bottom">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD COLSPAN="3"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Inspira Technologies Oxy B.H.N. Ltd.</B></FONT></TD></TR>
  <TR>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Date: April 4, 2023</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">By:</FONT></TD>
    <TD COLSPAN="2" STYLE="border-bottom: black 1.5pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">/s/
    Dagi Ben-Noon</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 60%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 4%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 5%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Name:&nbsp;&nbsp;</FONT></TD>
    <TD STYLE="width: 31%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Dagi Ben-Noon</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Title:</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Chief Executive Officer</FONT></TD></TR>
  </TABLE>
<P STYLE="text-align: center; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

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

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

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<DOCUMENT>
<TYPE>EX-1.1
<SEQUENCE>2
<FILENAME>ea176407ex1-1_inspiratech.htm
<DESCRIPTION>SALES AGREEMENT BY AND BETWEEN INSPIRA TECHNOLOGIES OXY B.H.N. LTD. AND ROTH CAPITAL PARTNERS, LLC, DATED APRIL 4, 2023
<TEXT>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><B>Exhibit 1.1</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>INSPIRA TECHNOLOGIES OXY B.H.N. LTD.</B></P>

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">(no par value per share)</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>Sales Agreement</B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right">April 4, 2023</P>

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">888 San Clemente Drive, Suite 400</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Newport Beach, CA 92660</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Ladies and Gentlemen:</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">Inspira Technologies Oxy B.H.N.,
Ltd., an Israeli company (the &ldquo;<U>Company</U>&rdquo;), confirms its agreement (this &ldquo;<U>Agreement</U>&rdquo;) with Roth Capital
Partners, LLC (the &ldquo;<U>Agent</U>&rdquo;), as follows:</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">1. <U>Issuance and Sale of
Shares</U>. The Company agrees that, from time to time during the term of this Agreement, on the terms and subject to the conditions set
forth herein, it may issue and sell through or to the Agent, ordinary shares, no par value per share (the &ldquo;<U>Ordinary Shares</U>&rdquo;,
and such Ordinary Shares to be offered hereby, the &ldquo;<U>Placement Shares</U>&rdquo;), <I>provided, however</I>, that in no event
shall the Company issue or sell through Agent such number of Placement Shares that (a) exceeds the number or dollar amount of Ordinary
Shares that may be sold pursuant to the Registration Statement (as defined below), (b) exceeds the number of authorized but unissued Ordinary
Shares, (c) exceed the number or dollar amount of Ordinary Shares permitted to be sold under Form F-3 (including General Instruction I.B.5
thereof, if applicable) or (d) exceed the number or dollar amount of Ordinary Shares for which the Company has filed a Prospectus Supplement
(defined below) (the lesser of (a), (b), (c) and (d), (the &ldquo;<U>Maximum Amount</U>&rdquo;). Notwithstanding anything to the contrary
contained herein, the parties hereto agree that compliance with the limitations set forth in this Section&nbsp;1 on the amount of Placement
Shares issued and sold under this Agreement shall be the sole responsibility of the Company and that Agent shall have no obligation in
connection with such compliance. The issuance and sale of Placement Shares through or to Agent will be effected pursuant to the Registration
Statement (as defined below) filed by the Company and declared effective by the Securities and Exchange Commission (the &ldquo;<U>Commission</U>&rdquo;),
although nothing in this Agreement shall be construed as requiring the Company to use the Registration Statement to issue any Placement
Shares.</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The Company has filed, in
accordance with the provisions of the Securities Act of 1933, as amended, and the rules and regulations thereunder (the &ldquo;<U>Securities
Act</U>&rdquo;), with the Commission a registration statement on Form F-3 (File No. 333-266748), including a base prospectus, relating
to certain securities, including the Placement Shares to be issued from time to time by the Company, and which incorporates by reference
documents that the Company has filed or will file in accordance with the provisions of the Securities Exchange Act of 1934, as amended,
and the rules and regulations thereunder (the &ldquo;<U>Exchange Act</U>&rdquo;). The Company has prepared a prospectus supplement specifically
relating to the Placement Shares (the &ldquo;<U>Prospectus Supplement</U>&rdquo;) to the base prospectus included as part of such registration
statement. The Company will furnish to the Agent, for use by the Agent, copies of the prospectus included as part of such registration
statement, as supplemented by the Prospectus Supplement relating to the Placement Shares to be issued from time to time by the Company.
The Company may file one or more additional registration statements from time to time that will contain a base prospectus and related
prospectus or prospectus supplement, if applicable (which shall be a Prospectus Supplement), with respect to the Placement Shares. Except
where the context otherwise requires, such registration statement, and any post-effective amendment thereto, including all documents filed
as part thereof or incorporated by reference therein, and including any information contained in a Prospectus (as defined below) subsequently
filed with the Commission pursuant to Rule&nbsp;424(b) under the Securities Act or deemed to be a part of such registration statement
pursuant to Rule&nbsp;430B of the Securities Act, or any subsequent registration statement on Form F-3 filed pursuant to Rule 415 under
the Securities Act by the Company to cover any Placement Shares, is herein called the &ldquo;<U>Registration Statement</U>.&rdquo; The
base prospectus, including all documents incorporated therein by reference, included in the Registration Statement, as it may be supplemented
by the Prospectus Supplement, in the form in which such prospectus and/or Prospectus Supplement have most recently been filed by the Company
with the Commission pursuant to Rule&nbsp;424(b) under the Securities Act, together with any then issued Issuer Free Writing Prospectus
(defined below), is herein called the &ldquo;<U>Prospectus</U>.&rdquo; Any reference herein to the Registration Statement, the Prospectus
or any amendment or supplement thereto, shall be deemed to refer to and include the documents incorporated or deemed to be incorporated
by reference therein, and any reference herein to the terms &ldquo;amend,&rdquo; &ldquo;amendment&rdquo; or &ldquo;supplement&rdquo; with
respect to the Registration Statement or the Prospectus shall be deemed to refer to and include the filing after the execution hereof
of any document with the Commission deemed to be incorporated by reference therein (the &ldquo;<U>Incorporated Documents</U>&rdquo;).
For purposes of this Agreement, all references to the Registration Statement, the Prospectus or to any amendment or supplement thereto
shall be deemed to include the most recent copy filed with the Commission pursuant to its Electronic Data Gathering Analysis and Retrieval
System, or if applicable, the Interactive Data Electronic Application system when used by the Commission (collectively, &ldquo;<U>EDGAR</U>&rdquo;).</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">2. <U>Placements</U>. Each
time that the Company wishes to issue and sell Placement Shares hereunder (each, a &ldquo;<U>Placement</U>&rdquo;), it will notify the
Agent by email notice (or other method mutually agreed to in writing by the Parties) of the number or dollar value of Placement Shares,
the time period during which sales are requested to be made, any limitation on the number of Placement Shares that may be sold in any
one day and any minimum price below which sales may not be made (a &ldquo;<U>Placement Notice</U>&rdquo;), the form of which is attached
hereto as Schedule 1. The Placement Notice shall originate from any of the individuals from the Company set forth on Schedule 3 (with
a copy to each of the other individuals from the Company listed on such schedule), and shall be addressed to each of the individuals from
the Agent set forth on Schedule 3, as such Schedule 3 may be amended from time to time. The Placement Notice shall be effective unless
and until (i)&nbsp;the Agent declines to accept the terms contained therein for any reason, in its sole discretion, (ii)&nbsp;the entire
amount of the Placement Shares thereunder have been sold, (iii)&nbsp;the Company suspends or terminates the Placement Notice or (iv)&nbsp;the
Agreement has been terminated under the provisions of Section&nbsp;12. The amount of any discount, commission or other compensation to
be paid by the Company to Agent in connection with the sale of the Placement Shares shall be calculated in accordance with the terms set
forth in Schedule 2. It is expressly acknowledged and agreed that neither the Company nor the Agent will have any obligation whatsoever
with respect to a Placement or any Placement Shares unless and until the Company delivers a Placement Notice to the Agent and the Agent
does not decline such Placement Notice pursuant to the terms set forth above, and then only upon the terms specified therein and herein.
In the event of a conflict between the terms of this Agreement and the terms of a Placement Notice, the terms of the Placement Notice
will control.</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">3. <U>Sale of Placement Shares
by Agent</U>. Subject to the provisions of <U>Section&nbsp;5(a)</U>, the Agent, for the period specified in the Placement Notice, will
use its commercially reasonable efforts consistent with its normal trading and sales practices and applicable state and federal laws,
rules and regulations and the rules of the Nasdaq Capital Market (the &ldquo;<U>Exchange</U>&rdquo;), to sell the Placement Shares up
to the amount specified, and otherwise in accordance with the terms of such Placement Notice. The Agent will provide written confirmation
to the Company no later than the opening of the Trading Day (as defined below) immediately following the Trading Day on which it has made
sales of Placement Shares hereunder setting forth the number of Placement Shares sold on such day, the compensation payable by the Company
to the Agent pursuant to <U>Section&nbsp;2</U> with respect to such sales, and the Net Proceeds (as defined below) payable to the Company,
with an itemization of the deductions made by the Agent (as set forth in <U>Section&nbsp;5(b)</U>) from the gross proceeds that it receives
from such sales. Subject to the terms of the Placement Notice, the Agent may sell Placement Shares by any method permitted by law deemed
to be an &ldquo;at the market offering&rdquo; as defined in Rule&nbsp;415 of the Securities Act.</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">4. Suspension of Sales.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">(a) The Company or the Agent
may, upon notice to the other party in writing (including by email correspondence to each of the individuals of the other party set forth
on Schedule 3, if receipt of such correspondence is actually acknowledged by any of the individuals to whom the notice is sent, other
than via auto-reply) or by telephone (confirmed immediately by verifiable facsimile transmission or email correspondence to each of the
individuals of the other party set forth on Schedule 3), suspend any sale of Placement Shares; provided, however, that such suspension
shall not affect or impair any party&rsquo;s obligations with respect to any Placement Shares sold hereunder prior to the receipt of such
notice. Each party agrees that no such notice under this Section&nbsp;4 shall be effective against any other party unless it is made to
one of the individuals named on Schedule 3 hereto, as such Schedule may be amended from time to time. While a suspension is in effect,
any obligations under&nbsp;Sections 7(l),&nbsp;7(m)&nbsp;and&nbsp;7(n)&nbsp;with respect to delivery of certificates, opinions or comfort
letters to the Agent shall be waived.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">(b) Notwithstanding any other
provision of this Agreement, during any period in which the Company is in possession of material non-public information, the Company and
the Agent agree that (i) no sale of Placement Shares will take place, (ii) the Company shall not request the sale of any Placement Shares,
and (iii) the Agent shall not be obligated to sell or offer to sell any Placement Shares.</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">5. <U>Sale and Delivery to
the Agent; Settlement</U>.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">(a) <U>Sale of Placement Shares</U><I>.</I>
On the basis of the representations and warranties herein contained and subject to the terms and conditions herein set forth, upon the
Agent&rsquo;s acceptance of the terms of a Placement Notice, and unless the sale of the Placement Shares described therein has been declined,
suspended, or otherwise terminated in accordance with the terms of this Agreement, the Agent, for the period specified in the Placement
Notice, will use its commercially reasonable efforts consistent with its normal trading and sales practices to sell such Placement Shares
up to the amount specified in such Placement Notice, and otherwise in accordance with the terms of such Placement Notice. The Company
acknowledges and agrees that (i)&nbsp;there can be no assurance that the Agent will be successful in selling Placement Shares, (ii)&nbsp;the
Agent will incur no liability or obligation to the Company or any other person or entity if it does not sell Placement Shares for any
reason other than a failure by the Agent to use its commercially reasonable efforts consistent with its normal trading and sales practices
and applicable law and regulations to sell such Placement Shares as required under this Agreement and (iii)&nbsp;the Agent shall be under
no obligation to purchase Placement Shares on a principal basis pursuant to this Agreement, except as otherwise agreed by the Agent and
the Company.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">(b) <U>Settlement of Placement
Shares</U><I>.</I> Unless otherwise specified in the applicable Placement Notice, settlement for sales of Placement Shares will occur
on the second (2<SUP>nd</SUP>)&nbsp;Trading Day (or such earlier day as is industry practice for regular-way trading) following the date
on which such sales are made (each, a &ldquo;<U>Settlement Date</U>&rdquo;). The Agent shall notify the Company in writing (including
by email correspondence to each of the individuals set forth on&nbsp;Schedule 3) of each sale of Placement Shares no later than the opening
of the Trading Day immediately following the Trading Day on which it has made sales of Placement Shares hereunder. The amount of proceeds
to be delivered to the Company on a Settlement Date against receipt of the Placement Shares sold (the &ldquo;<U>Net Proceeds</U>&rdquo;)
will be equal to the aggregate sales price received by the Agent, after deduction for (i)&nbsp;the Agent&rsquo;s commission, discount
or other compensation for such sales payable by the Company pursuant to Section&nbsp;2 hereof, and (ii)&nbsp;any transaction fees imposed
by any governmental or self-regulatory organization in respect of such sales.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">(c) <U>Delivery of Placement
Shares</U>. On each Settlement Date, against payment of the Net Proceeds, the Company will, or will cause its transfer agent to, electronically
transfer the Placement Shares being sold by crediting the Agent&rsquo;s or its designee&rsquo;s account (provided the Agent shall have
given the Company written notice of such designee prior to the Settlement Date) at The Depository Trust Company through its Deposit and
Withdrawal at Custodian System or by such other means of delivery as may be mutually agreed upon by the parties hereto which in all cases
shall be freely tradable, transferable, registered shares in good deliverable form. On each Settlement Date, the Agent will deliver the
related Net Proceeds in same day funds to an account designated by the Company on, or prior to, the Settlement Date. The Company agrees
that if the Company, or its transfer agent (if applicable), defaults in its obligation to deliver Placement Shares on a Settlement Date
(other than as a result of a failure by the Agent to provide instructions for delivery), the Company agrees that in addition to and in
no way limiting the rights and obligations set forth in Section&nbsp;10(a) hereto, it will (i)&nbsp;hold the Agent harmless against any
loss, claim, damage, or reasonable and documented expense (including reasonable legal fees and expenses), as incurred, arising out of
or in connection with such default by the Company or its transfer agent (if applicable) and (ii)&nbsp;pay to the Agent any commission,
discount, or other compensation to which it would otherwise have been entitled absent such default.</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">(d) <U>Limitations on Offering
Size</U><I>.</I> Under no circumstances shall the Company cause or request the offer or sale of any Placement Shares if, after giving
effect to the sale of such Placement Shares, the aggregate gross sales proceeds of Placement Shares sold pursuant to this Agreement would
exceed the lesser of (A)&nbsp;together with all sales of Placement Shares under this Agreement, the Maximum Amount, (B)&nbsp;the amount
available for offer and sale under the Registration Statement and (C)&nbsp;the amount authorized from time to time to be issued and sold
under this Agreement by the Company&rsquo;s board of directors, a duly authorized committee thereof or a duly authorized executive committee,
and notified to the Agent in writing. Under no circumstances shall the Company cause or request the offer or sale of any Placement Shares
pursuant to this Agreement at a price lower than the minimum price authorized from time to time by the Company&rsquo;s board of directors,
duly authorized committee thereof or a duly authorized executive committee, and notified to the Agent in writing. Further, under no circumstances
shall the Company cause or permit the aggregate offering amount of Placement Shares sold pursuant to this Agreement to exceed the Maximum
Amount.</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">6. <U>Representations and
Warranties of the Company</U>. Except as disclosed in the Registration Statement or Prospectus (including the Incorporated Documents),
the Company represents and warrants to, and agrees with the Agent that as of the date of this Agreement and as of each Applicable Time
(as defined below), unless such representation, warranty or agreement specifies a different date or time:</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">(a) <U>Registration Statement
and Prospectus</U>. The Company and the transactions contemplated by this Agreement meet the requirements for and comply with the conditions
for the use of Form F-3 under the Securities Act. The Registration Statement has been filed with the Commission and declared effective
under the Securities Act. The Prospectus Supplement will name the Agent as the agent in the section entitled &ldquo;Plan of Distribution.&rdquo;
The Company has not received, and has no notice of, any order of the Commission preventing or suspending the use of the Registration Statement,
or threatening or instituting proceedings for that purpose. The Registration Statement and the offer and sale of Placement Shares as contemplated
hereby meet the requirements of Rule&nbsp;415 under the Securities Act and comply in all material respects with said Rule. Any statutes,
regulations, contracts or other documents that are required to be described in the Registration Statement or the Prospectus or to be filed
as exhibits to the Registration Statement have been so described or filed. Copies of the Registration Statement, the Prospectus, and any
such amendments or supplements and all documents incorporated by reference therein that were filed with the Commission on or prior to
the date of this Agreement have been delivered, or are available through EDGAR, to Agent and its counsel. The Company has not distributed
and, prior to the later to occur of each Settlement Date and completion of the distribution of the Placement Shares, will not distribute
any offering material in connection with the offering or sale of the Placement Shares other than the Registration Statement and the Prospectus
and any Issuer Free Writing Prospectus to which Agent has consented. The Company has not, in the 12 months preceding the date hereof,
received notice from the Exchange to the effect that the Company is not in compliance with the listing or maintenance requirements. The
Company has no reason to believe that it will not in the foreseeable future continue to be in compliance with all such listing and maintenance
requirements.</P>

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

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">(b) <U>No&nbsp;Misstatement
or Omission</U>. The Registration Statement, when it became or becomes effective, and the Prospectus, and any amendment or supplement
thereto, on the date of such Prospectus or amendment or supplement, conformed and will conform in all material respects with the requirements
of the Securities Act. At each Settlement Date, the Registration Statement and the Prospectus, as of such date, will conform in all material
respects with the requirements of the Securities Act. The Registration Statement, when it became or becomes effective, did not, and will
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 not misleading. The Prospectus and any amendment or supplement thereto, on the date thereof and at each Applicable
Time (defined below), did not and will not include an untrue statement of a material fact or omit to state a material fact necessary to
make the statements therein, in light of the circumstances under which they were made, not misleading. The Incorporated Documents did
not, and any further documents filed and incorporated by reference therein will not, when filed with the Commission, contain an untrue
statement of a material fact or omit to state a material fact required to be stated in such document or necessary to make the statements
in such document, in light of the circumstances under which they were made, not misleading. The foregoing shall not apply to statements
in, or omissions from, any such document made in reliance upon, and in conformity with, information furnished to the Company by Agent
specifically for use in the preparation thereof.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">(c) <U>Conformity with Securities
Act and Exchange Act</U>. The Registration Statement, the Prospectus, any Issuer Free Writing Prospectus or any amendment or supplement
thereto, and the Incorporated Documents, when such documents were or are filed with the Commission under the Securities Act or the Exchange
Act or became or become effective under the Securities Act, as the case may be, conformed and will conform in all material respects with
the requirements of the Securities Act and the Exchange Act, as applicable.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">(d) <U>Financial Information</U>.
The financial statements of the Company included or incorporated by reference in the Registration Statement, the Prospectus and the Issuer
Free Writing Prospectuses, if any, together with the related notes and schedules, present fairly, in all material respects, the financial
position of the Company as of the dates indicated and the results of operations, cash flows and changes in stockholders&rsquo; equity
of the Company for the periods specified and have been prepared in compliance with the requirements of the Securities Act and Exchange
Act and in conformity with the International Financial Reporting Standards (&ldquo;<U>IFRS</U>&rdquo;) as issued by the International
Accounting Standards Board applied on a consistent basis (except for (i)&nbsp;such adjustments to accounting standards and practices as
are noted therein, (ii)&nbsp;in the case of unaudited interim financial statements, to the extent such financial statements may not include
footnotes required by IFRS or may be condensed or summary statements and (iii)&nbsp;such adjustments which will not be material, either
individually or in the aggregate) during the periods involved; the other financial and statistical data with respect to the Company contained
or incorporated by reference in the Registration Statement, the Prospectus and the Issuer Free Writing Prospectuses, if any, are accurately
and fairly presented and prepared on a basis consistent with the financial statements and books and records of the Company; there are
no financial statements (historical or pro forma) that are required to be included or incorporated by reference in the Registration Statement,
or the Prospectus that are not included or incorporated by reference as required; the Company does not have any material liabilities or
obligations, direct or contingent (including any off-balance sheet obligations), not described in the Registration Statement(excluding
the exhibits thereto), and the Prospectus; and all disclosures contained or incorporated by reference in the Registration Statement, the
Prospectus and the Issuer Free Writing Prospectuses, if any, regarding &ldquo;non-GAAP financial measures&rdquo; (as such term is defined
by the rules and regulations of the Commission) comply in all material respects with Regulation G of the Exchange Act and Item&nbsp;10
of Regulation S-K under the Securities Act, to the extent applicable.</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">(e) <U>Conformity with EDGAR
Filing</U>. The Prospectus delivered to the Agent for use in connection with the sale of the Placement Shares pursuant to this Agreement
will be identical to the versions of the Prospectus created to be transmitted to the Commission for filing via EDGAR, except to the extent
permitted by Regulation S-T.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">(f) <U>Organization</U>. The
Company is duly organized, validly existing as a corporation and in good standing under the laws of its jurisdiction of organization.
The Company is, and will be, duly licensed or qualified as a foreign corporation for transaction of business and in good standing under
the laws of each other jurisdiction in which its ownership or lease of property or the conduct of its business requires such license or
qualification, and has all corporate power and authority necessary to own or hold its properties and to conduct its business as described
in the Registration Statement and the Prospectus, except where the failure to be so qualified or in good standing or have such power or
authority would not, individually or in the aggregate, have a material adverse effect on or affecting the assets, business, operations,
earnings, properties, condition (financial or otherwise), prospects, stockholders&rsquo; equity or results of operations of the Company
or prevent or materially interfere with consummation of the transactions contemplated hereby (a &ldquo;<U>Material Adverse Effect</U>&rdquo;).</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">(g) <U>Subsidiaries</U>. The
Company does not own or control, directly or indirectly, any corporation, association or other entity other than the subsidiaries listed
in an exhibit to the Company&rsquo;s Annual Report on Form 20-F for the most recently ended fiscal year. The Company owns directly or
indirectly, all of the equity interests of its subsidiaries free and clear of any lien, charge, security interest, encumbrance, right
of first refusal or other restriction, and all the equity interests of its subsidiaries are validly issued and are fully paid, non-assessable
and free of preemptive and similar rights.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">(h) <U>No&nbsp;Violation or
Default</U>. The Company is not (i)&nbsp;in violation of its charter or by-laws or similar organizational documents; (ii)&nbsp;in default,
and no event has occurred that, 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 or other agreement or instrument
to which the Company is a party or by which the Company is bound or to which any of the property or assets of the Company is subject;
or (iii)&nbsp;in violation of any law or statute or any judgment, order, rule or regulation of any court or arbitrator or governmental
or regulatory authority, except, in the case of each of clauses (ii)&nbsp;and (iii)&nbsp;above, for any such violation or default that
would not, individually or in the aggregate, reasonably be expected to have a Material Adverse Effect. To the Company&rsquo;s knowledge,
no other party under any material contract or other agreement to which it is a party is in default in any respect thereunder where such
default would <FONT STYLE="text-underline-style: double; background-color: white"><U>reasonably be expected to</U></FONT> have a Material
Adverse Effect.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">(i) <U>No&nbsp;Material Adverse
Effect</U>. Subsequent to the respective dates as of which information is given in the Registration Statement, the Prospectus and the
Issuer Free Writing Prospectuses, if any, (including any document deemed incorporated by reference therein), there has not been (i)&nbsp;any
Material Adverse Effect, (ii)&nbsp;any transaction which is material to the Company, (iii)&nbsp;any obligation or liability, direct or
contingent (including any off-balance sheet obligations), incurred by the Company which is material to the Company, (iv)&nbsp;any material
change in the capital stock or outstanding long-term indebtedness (other than (A)&nbsp;the grant of additional awards under equity incentive
plans, (B)&nbsp;changes in the number of outstanding Ordinary Shares due to the issuance of shares upon exercise or conversion of securities
exercisable for or convertible into Ordinary Shares outstanding on the date hereof, (C)&nbsp;any repurchase of capital stock of the Company,
(D)&nbsp;as a result of the sale of Placement Shares, or (E)&nbsp;other than as publicly reported or announced), or (v)&nbsp;any dividend
or distribution of any kind declared, paid or made on the capital stock of the Company other than in each case above in the ordinary course
of business or as otherwise disclosed in the Registration Statement or Prospectus (including any document deemed incorporated by reference
therein).</P>

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

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">(j) <U>Capitalization</U>. The
issued and outstanding shares of capital stock of the Company have been validly issued, are fully paid and non-assessable and, other than
as disclosed in the Registration Statement or the Prospectus, are not subject to any preemptive rights, rights of first refusal or similar
rights. The Company has an authorized, issued and outstanding capitalization as set forth in the Registration Statement and the Prospectus
as of the dates referred to therein (other than the grant of additional options and restricted stock units under the Company&rsquo;s existing
stock option plans, or changes in the number of outstanding Ordinary Shares of the Company due to the issuance of shares upon the exercise
or conversion of securities exercisable for, or convertible into, Ordinary Shares outstanding on the date hereof) and such authorized
capital stock conforms to the description thereof set forth in the Registration Statement and the Prospectus. The description of the securities
of the Company in the Registration Statement and the Prospectus is complete and accurate in all material respects. As of the date referred
to therein, the Company does not have outstanding any options to purchase, or any rights or warrants to subscribe for, or any securities
or obligations convertible into, or exchangeable for, or any contracts or commitments to issue or sell, any shares of capital stock or
other securities.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">(k) <U>Authorization; Enforceability</U>.
The Company has full legal right, power and authority to enter into this Agreement and perform the transactions contemplated hereby. This
Agreement has been duly authorized, executed and delivered by the Company and is a legal, valid and binding agreement of the Company enforceable
in accordance with its terms, except (i)&nbsp;to the extent that enforceability may be limited by bankruptcy, insolvency, reorganization,
moratorium or similar laws affecting creditors&rsquo; rights generally and by general equitable principles and (ii)&nbsp;the indemnification
and contribution provisions of Section&nbsp;10 hereof may be limited by federal or state securities laws and public policy considered
in respect thereof.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">(l) <U>Authorization of Placement
Shares</U>. The Placement Shares, when issued and delivered pursuant to the terms approved by the board of directors of the Company or
a duly authorized committee thereof, against payment therefor as provided herein, will be duly and validly authorized and issued and fully
paid and non-assessable, free and clear of any pledge, lien, encumbrance, security interest or other claim, including any statutory or
contractual preemptive rights, resale rights, rights of first refusal or other similar rights, and will be registered pursuant to Section&nbsp;12
of the Exchange Act. The Placement Shares, when issued, will conform in all material respects to the description thereof set forth in
or incorporated into the Prospectus.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">(m) <U>No&nbsp;Consents Required</U>.
No&nbsp;consent, approval, authorization, order, registration or qualification of or with any court or arbitrator or governmental or regulatory
authority is required for the execution, delivery and performance by the Company this Agreement, the issuance and sale by the Company
of the Placement Shares, except for such consents, approvals, authorizations, orders and registrations or qualifications as may be required
under applicable state securities laws or by the by-laws and rules of the Financial Industry Regulatory Authority (&ldquo;<U>FINRA</U>&rdquo;)
or the Exchange in connection with the sale of the Placement Shares by the Agent or that if not obtained or made, would not, individually
or in the aggregate, reasonably be expected to have a Material Adverse Effect or which would not reasonably be expected to have a material
adverse effect on the Company&rsquo;s ability to perform their agreed upon obligations under this Agreement.</P>

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

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

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">(n) <U>No&nbsp;Preferential
Rights</U>. (i)&nbsp;No&nbsp;person, as such term is defined in Rule 1-02 of Regulation S-X promulgated under the Securities Act (each,
a &ldquo;<U>Person</U>&rdquo;), has the right, contractual or otherwise, to cause the Company to issue or sell to such Person any Ordinary
Shares or shares of any other capital stock or other securities of the Company, (ii)&nbsp;no Person has any preemptive rights, resale
rights, rights of first refusal, or any other rights (whether pursuant to a &ldquo;poison pill&rdquo; provision or otherwise) to purchase
any Ordinary Shares or shares of any other capital stock or other securities of the Company, (iii)&nbsp;no Person has the right to act
as an underwriter or as a financial advisor to the Company in connection with the offer and sale of Ordinary Shares, and (iv)&nbsp;no
Person has the right, contractual or otherwise, to require the Company to register under the Securities Act any Ordinary Shares or shares
of any other capital stock or other securities of the Company, or to include any such shares or other securities in the Registration Statement
or the offering contemplated thereby, whether as a result of the filing or effectiveness of the Registration Statement or the sale of
the Placement Shares as contemplated thereby or otherwise.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">(o) <U>Independent Public Accountant</U>.
BDO Ziv haft (the &ldquo;<U>Accountant</U>&rdquo;), whose report on the financial statements of the Company is filed with the Commission
as part of the Company&rsquo;s most recent Annual Report on Form 20-F filed with the Commission and incorporated into the Registration
Statement and the Prospectus, are and, during the periods covered by their report, were an independent registered public accounting firm
with respect to the Company within the meaning of the Securities Act and the Public Company Accounting Oversight Board (United States).
To the Company&rsquo;s knowledge, the Accountant is not in violation of the auditor independence requirements of the Sarbanes-Oxley Act
of 2002 (the &ldquo;<U>Sarbanes-Oxley Act</U>&rdquo;) with respect to the Company.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">(p) <U>Enforceability of Agreements</U>.
All agreements between the Company and third parties expressly referenced in the Prospectus, to the extent such agreements are in effect
as of the date of this Agreement, are legal, valid and binding obligations of the Company enforceable in accordance with their respective
terms, except to the extent that (i)&nbsp;enforceability may be limited by bankruptcy, insolvency, reorganization, moratorium or similar
laws affecting creditors&rsquo; rights generally and by general equitable principles and (ii)&nbsp;the indemnification provisions of certain
agreements may be limited by federal or state securities laws or public policy considerations in respect thereof, and except for any unenforceability
that, individually or in the aggregate, would not reasonably be expected to have a Material Adverse Effect.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">(q) <U>No&nbsp;Litigation</U>.
There are no legal, governmental or regulatory actions, suits or proceedings pending, nor, to the Company&rsquo;s knowledge, any legal,
governmental or regulatory investigations, to which the Company is a party or to which any property of the Company is the subject that,
individually or in the aggregate, if determined adversely to the Company would reasonably be expected to have a Material Adverse Effect
or materially and adversely affect the ability of the Company to perform its obligations under this Agreement; to the Company&rsquo;s
knowledge, no such actions, suits or proceedings are threatened or contemplated by any governmental or regulatory authority or threatened
by others that individually or in the aggregate, if determined adversely to the Company could reasonably be expected to have a Material
Adverse Effect; and (i)&nbsp;there are no current or pending legal, governmental or regulatory investigations, actions, suits or proceedings
that are required under the Securities Act to be described in the Prospectus that are not so described; and (ii)&nbsp;there are no contracts
or other documents that are required under the Securities Act to be filed as exhibits to the Registration Statement that are not so filed.</P>

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

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

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">(r) <U>Licenses and Permits</U>.
The Company possesses or has obtained, all licenses, certificates, consents, orders, approvals, permits and other authorizations issued
by, and have made all declarations and filings with, the appropriate federal, state, local or foreign governmental or regulatory authorities
that are necessary for the ownership or lease of their respective properties or the conduct of their respective businesses as described
in the Registration Statement and the Prospectus (the &ldquo;<U>Permits</U>&rdquo;), except where the failure to possess, obtain or make
the same would not, individually or in the aggregate, reasonably be expected to have a Material Adverse Effect. The Company has not received
written notice of any proceeding relating to revocation or modification of any such Permit or has any reason to believe that such Permit
will not be renewed in the ordinary course, except where the failure to obtain any such renewal would not, individually or in the aggregate,
reasonably be expected to have a Material Adverse Effect.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">(s) <U>No Material Defaults</U>.
The Company has not defaulted on any installment on indebtedness for borrowed money or on any rental on one or more long-term leases,
which defaults, individually or in the aggregate, would reasonably be expected to have a Material Adverse Effect. The Company has not
filed a report pursuant to Section 13(a) or 15(d) of the Exchange Act since the filing of its last Annual Report on Form 20-F, indicating
that it (i) has failed to pay any dividend or sinking fund installment on preferred stock or (ii) has defaulted on any installment on
indebtedness for borrowed money or on any rental on one or more long-term leases, which defaults, individually or in the aggregate, could
reasonably be expected to have a Material Adverse Effect</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">(t) <U>F-3 Eligibility</U>.
At the time the Registration Statement was or will be declared effective, and at the time the Company&rsquo;s most recent Annual Report
on Form 20-F was filed with the Commission, the Company met or will meet the then applicable requirements for the use of Form F-3 under
the Securities Act, including, but not limited to, General Instruction I.B.5 of Form F-3, if applicable. As of the close of trading on
the Exchange on February 8, 2023, the aggregate market value of the outstanding voting and non-voting common equity (as defined in Rule
405) of the Company held by persons other than affiliates of the Company (pursuant to Rule 144 of the Securities Act, those that directly,
or indirectly through one or more intermediaries, control, or are controlled by, or are under common control with, the Company) (the &ldquo;Non-Affiliate
Shares&rdquo;), was approximately $5,481,334 (calculated by multiplying (x) the price at which the common equity of the Company was last
sold on the Exchange on February 8, 2023 times (y) the number of Non-Affiliate Shares). The Company is not a shell company (as defined
in Rule 405 under the Securities Act) and has not been a shell company for at least 12 calendar months previously and if it has been a
shell company at any time previously, has filed current Form 10 information (as defined in General Instruction I.B.5 of Form F-3) with
the Commission at least 12 calendar months previously reflecting its status as an entity that is not a shell company.</P>

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

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

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">(u) <U>Certain Market Activities</U>.
Neither the Company nor, to the Company&rsquo;s knowledge, any of its directors, officers or controlling persons has taken, directly or
indirectly, any action designed, or that has constituted or would reasonably be expected to cause or result in, under the Exchange Act
or otherwise, the stabilization or manipulation of the price of any security of the Company to facilitate the sale or resale of the Placement
Shares.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">(v) <U>Broker/Dealer Relationships</U>.
Neither the Company nor any related entities (i)&nbsp;is required to register as a &ldquo;broker&rdquo; or &ldquo;dealer&rdquo; in accordance
with the provisions of the Exchange Act or (ii)&nbsp;directly or indirectly through one or more intermediaries, controls or is a &ldquo;person
associated with a member&rdquo; or &ldquo;associated person of a member&rdquo; (within the meaning set forth in the FINRA Manual).</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">(w) <U>No&nbsp;Reliance</U>.
The Company has not relied upon the Agent or legal counsel for the Agent for any legal, tax or accounting advice in connection with the
offering and sale of the Placement Shares.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">(x) <U>Taxes</U>. The Company
has filed all federal, state, local and foreign tax returns which have been required to be filed and paid all taxes shown thereon through
the date hereof, to the extent that such taxes have become due and are not being contested in good faith. Except as otherwise disclosed
in or contemplated by the Registration Statement or the Prospectus, no tax deficiency has been determined adversely to the Company which
has had, or would reasonably be expected to have, individually or in the aggregate, a Material Adverse Effect. The Company has no knowledge
of any federal, state or other governmental tax deficiency, penalty or assessment which has been or might be asserted or threatened against
it which reasonably would be expected to have a Material Adverse Effect.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">(y) <U>Title to Real and Personal
Property</U>. The Company has good and valid title in fee simple to all items of real property and good and valid title to all personal
property described in the Registration Statement or Prospectus as being owned by it that are material to the business of the Company,
in each case free and clear of all liens, encumbrances and claims, except those that (i)&nbsp;do not materially interfere with the use
made and proposed to be made of such property by the Company or (ii)&nbsp;would not reasonably expected, individually or in the aggregate,
to have a Material Adverse Effect. Any real property described in the Registration Statement or Prospectus as being leased by the Company
is held by it under valid, existing and enforceable leases, except those that (A)&nbsp;do not materially interfere with the use made or
proposed to be made of such property by the Company or (B)&nbsp;would not be reasonably expected, individually or in the aggregate, to
have a Material Adverse Effect.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">(z) <U>Intellectual Property</U>.
The Company owns or possesses adequate enforceable rights to use all patents, patent applications, trademarks (both registered and unregistered),
service marks, trade names, trademark registrations, service mark registrations, copyrights, licenses and know-how (including trade secrets
and other unpatented and/or unpatentable proprietary or confidential information, systems or procedures) (collectively, the &ldquo;<U>Intellectual
Property</U>&rdquo;), necessary for the conduct of its business as conducted as of the date hereof, except to the extent that the failure
to own or possess adequate rights to use such Intellectual Property would not, individually or in the aggregate, reasonably be expected
to have a Material Adverse Effect; the Company has not received any written notice of any claim of infringement or conflict which asserted
Intellectual Property rights of others, which infringement or conflict, if the subject of an unfavorable decision, would reasonably be
expected to result in a Material Adverse Effect; there are no pending, or to the Company&rsquo;s knowledge, threatened judicial proceedings
or interference proceedings against the Company challenging the Company&rsquo;s rights in or to or the validity of the scope of any of
the Company&rsquo;s patents, patent applications or proprietary information.</P>

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

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

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">(aa) <U>Environmental Laws</U>.
The Company (i)&nbsp;is in compliance with any and all applicable federal, state, local and foreign laws, rules, regulations, decisions
and orders relating to the protection of human health and safety, the environment or hazardous or toxic substances or wastes, pollutants
or contaminants (collectively, &ldquo;<U>Environmental Laws</U>&rdquo;); (ii)&nbsp;has received and is in compliance with all permits,
licenses or other approvals required of it under applicable Environmental Laws to conduct its businesses as described in the Registration
Statement and the Prospectus; and (iii)&nbsp;has not received notice of any actual or potential liability for the investigation or remediation
of any disposal or release of hazardous or toxic substances or wastes, pollutants or contaminants, except, in the case of any of clauses
(i), (ii)&nbsp;or (iii)&nbsp;above, for any such failure to comply or failure to receive required permits, licenses, other approvals or
liability as would not, individually or in the aggregate, reasonably be expected to have a Material Adverse Effect.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">(bb) <U>Disclosure Controls</U>.
The Company maintains systems of internal controls designed to provide reasonable assurance that (i)&nbsp;transactions are executed in
accordance with management&rsquo;s general or specific authorizations; (ii)&nbsp;transactions are recorded as necessary to permit preparation
of financial statements in conformity with IFRS and to maintain asset accountability; (iii)&nbsp;access to assets is permitted only in
accordance with management&rsquo;s general or specific authorization; and (iv)&nbsp;the recorded accountability for assets is compared
with the existing assets at reasonable intervals and appropriate action is taken with respect to any differences. The Company is not aware
of any material weaknesses in its internal control over financial reporting (other than as set forth in the Prospectus). Since the date
of the latest audited financial statements of the Company included in the Prospectus, there has been 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 (other than as set forth in the Prospectus). The Company has established disclosure controls
and procedures (as defined in Exchange Act Rules 13a-15 and 15d-15) for the Company and designed such disclosure controls and procedures
to ensure that material information relating to the Company is made known to the certifying officers by others within those entities,
particularly during the period in which the Company&rsquo;s annual and semi-annual reports, as the case may be, is being prepared. The
Company&rsquo;s certifying officers have evaluated the effectiveness of the Company&rsquo;s controls and procedures as of a date within
90 days prior to the filing date of the Form 20-F for the fiscal year most recently ended (such date, the &ldquo;<U>Evaluation Date</U>&rdquo;).
The Company presented in its Form 20-F for the fiscal year most recently ended the conclusions of the certifying officers about the effectiveness
of the disclosure controls and procedures based on their evaluations as of the Evaluation Date. Since the Evaluation Date, there have
been no significant changes in the Company&rsquo;s internal controls (as such term is defined in Item&nbsp;307(b) of Regulation S-K under
the Securities Act) or, to the Company&rsquo;s knowledge, in other factors that could significantly affect the Company&rsquo;s internal
controls. To the knowledge of the Company, the Company&rsquo;s &ldquo;internal controls over financial reporting&rdquo; and &ldquo;disclosure
controls and procedures&rdquo; are effective.</P>

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

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">(cc) <U>Sarbanes-Oxley</U>.
The Company is not aware of any failure on the part of the Company or any of the Company&rsquo;s directors or officers, in their capacities
as such, to comply with any applicable provisions of the Sarbanes-Oxley Act and the applicable rules and regulations promulgated thereunder
in all material respects. Each of the principal executive officer and the principal financial officer of the Company (or each former principal
executive officer of the Company and each former principal financial officer of the Company as applicable) has made all certifications
required by Sections 302 and 906 of the Sarbanes-Oxley Act with respect to all reports, schedules, forms, statements and other documents
required to be filed by it or furnished by it to the Commission during the past 12 months. For purposes of the preceding sentence, &ldquo;principal
executive officer&rdquo; and &ldquo;principal financial officer&rdquo; shall have the meanings given to such terms in the Sarbanes-Oxley
Act.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">(dd) <U>Finder&rsquo;s Fees</U>.
The Company has not incurred any liability for any finder&rsquo;s fees, brokerage commissions or similar payments in connection with the
transactions herein contemplated, except as may otherwise exist with respect to Agent pursuant to this Agreement.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">(ee) <U>Labor Disputes</U>.
No&nbsp;labor disturbance by or dispute with employees of the Company exists or, to the knowledge of the Company, is threatened which
would be reasonably likely to have a Material Adverse Effect</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">(ff) <U>Investment Company Act</U>.
The Company is not or after giving effect to the offering and sale of the Placement Shares, will not be an &ldquo;investment company&rdquo;
or an entity &ldquo;controlled&rdquo; by an &ldquo;investment company,&rdquo; as such terms are defined in the Investment Company Act
of 1940, as amended (the &ldquo;<U>Investment Company Act</U>&rdquo;).</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">(gg) <U>Operations</U>. The
operations of the Company are and have been conducted at all times in compliance with applicable financial record keeping and reporting
requirements of the Currency and Foreign Transactions Reporting Act of 1970, as amended, the money laundering statutes of all jurisdictions
to which the Company is subject, 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;<U>Money Laundering Laws</U>&rdquo;), except as would not
have a Material Adverse Effect; and no action, suit or proceeding by or before any court or governmental agency, authority or body or
any arbitrator involving the Company with respect to the Money Laundering Laws is pending or, to the knowledge of the Company, threatened.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">(hh) <U>Off-Balance Sheet Arrangements</U>.
There are no transactions, arrangements and other relationships between and/or among the Company, and/or, to the knowledge of the Company,
any of its affiliates and any unconsolidated entity, including, but not limited to, any structural finance, special purpose or limited
purpose entity (each, an &ldquo;<U>Off Balance Sheet Transaction</U>&rdquo;) that could reasonably be expected to affect materially the
Company&rsquo;s liquidity or the availability of or requirements for its capital resources, including those Off Balance Sheet Transactions
described in the Commission&rsquo;s Statement about Management&rsquo;s Discussion and Analysis of Financial Conditions and Results of
Operations (Release Nos. 33-8056; 34-45321; FR-61), required to be described in the Prospectus which have not been described as required.</P>

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

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

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">(ii) <U>Underwriter Agreements</U>.
Other than with respect to this Agreement, the Company is not a party to any agreement with an agent or underwriter for any other &ldquo;at
the market&rdquo; or continuous equity transaction.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">(jj) <U>ERISA</U>. To the knowledge
of the Company, each material employee benefit plan, within the meaning of Section&nbsp;3(3) of the Employee Retirement Income Security
Act of 1974, as amended (&ldquo;<U>ERISA</U>&rdquo;), that is maintained, administered or contributed to by the Company or any of its
affiliates for employees or former employees of the Company has been maintained in material compliance with its terms and the requirements
of any applicable statutes, orders, rules and regulations, including but not limited to ERISA and the Internal Revenue Code of 1986, as
amended (the &ldquo;<U>Code</U>&rdquo;); no prohibited transaction, within the meaning of Section&nbsp;406 of ERISA or Section&nbsp;4975
of the Code, has occurred which would result in a material liability to the Company with respect to any such plan excluding transactions
effected pursuant to a statutory or administrative exemption; and for each such plan that is subject to the funding rules of Section&nbsp;412
of the Code or Section&nbsp;302 of ERISA, no &ldquo;accumulated funding deficiency&rdquo; as defined in Section&nbsp;412 of the Code has
been incurred, whether or not waived, and the fair market value of the assets of each such plan (excluding for these purposes accrued
but unpaid contributions) exceeds the present value of all benefits accrued under such plan determined using reasonable actuarial assumptions.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">(kk) <U>Forward Looking Statements</U>.
No&nbsp;forward-looking statement (within the meaning of Section&nbsp;27A of the Securities Act and Section&nbsp;21E of the Exchange Act)
(a &ldquo;<U>Forward Looking Statement</U>&rdquo;) contained in the Registration Statement and the Prospectus has been made or reaffirmed
without a reasonable basis or has been disclosed other than in good faith. The Forward Looking Statements incorporated by reference in
the Registration Statement and the Prospectus from the Company&rsquo;s Annual Report on Form 20-F for the fiscal year most recently ended
(i)&nbsp;are within the coverage of the safe harbor for forward looking statements set forth in Section&nbsp;27A of the Securities Act,
Rule 175(b) under the Securities Act or Rule 3b-6 under the Exchange Act, as applicable, (ii)&nbsp;were made by the Company with a reasonable
basis and in good faith and reflect the Company&rsquo;s good faith commercially reasonable best estimate of the matters described therein,
and (iii)&nbsp;have been prepared in accordance with Item&nbsp;10 of Regulation S-K under the Securities Act.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">(ll) <U>Agent Purchases</U>.
The Company acknowledges and agrees that Agent has informed the Company that the Agent may, to the extent permitted under the Securities
Act and the Exchange Act, purchase and sell Ordinary Shares for its own account while this Agreement is in effect, provided, that (i)&nbsp;no
such purchase or sales shall take place while a Placement Notice is in effect (except to the extent each Agent may engage in sales of
Placement Shares purchased or deemed purchased from the Company as a &ldquo;riskless principal&rdquo; or in a similar capacity) and (ii)&nbsp;the
Company shall not be deemed to have authorized or consented to any such purchases or sales by the Agent.</P>

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

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">(mm) <U>Margin Rules</U>. Neither
the issuance, sale and delivery of the Placement Shares nor the application of the proceeds thereof by the Company as described in the
Registration Statement and the Prospectus will 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.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">(nn) <U>Insurance</U>. The Company
carries, or is covered by, insurance in such amounts and covering such risks as the Company reasonably believes is adequate for the conduct
of its business and as is customary for companies engaged in similar businesses in similar industries.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">(oo) <U>No&nbsp;Improper Practices</U>.
(i)&nbsp;Neither the Company, nor to the Company&rsquo;s knowledge, any of its executive officers has, in the past five years, made any
unlawful contributions to any candidate for any political office (or failed fully to disclose any contribution in violation of law) or
made any contribution or other payment to any official of, or candidate for, any federal, state, municipal, or foreign office or other
person charged with similar public or quasi-public duty in violation of any law or of the character required to be disclosed in the Prospectus;
(ii)&nbsp;no relationship, direct or indirect, exists between or among the Company or, to the Company&rsquo;s knowledge, any affiliate
of the Company, on the one hand, and the directors, officers and stockholders of the Company, that is required by the Securities Act to
be described in the Registration Statement and the Prospectus that is not so described; (iii)&nbsp;no relationship, direct or indirect,
exists between or among the Company, or any affiliate of the Company, on the one hand, and the directors, officers, stockholders or directors
of the Company that is required by the rules of FINRA to be described in the Registration Statement and the Prospectus that is not so
described; (iv)&nbsp;there are no material outstanding loans or advances or material guarantees of indebtedness by the Company to or for
the benefit of any of its officers or directors or any of the members of the families of any of them; (v) the Company has not offered,
or caused any placement agent to offer, Ordinary Shares to any person with the intent to influence unlawfully (A)&nbsp;a customer or supplier
of the Company to alter the customer&rsquo;s or supplier&rsquo;s level or type of business with the Company or (B)&nbsp;a trade journalist
or publication to write or publish favorable information about the Company or any of its products or services, and, (vi)&nbsp;neither
the Company nor, to the Company&rsquo;s knowledge, any employee or agent of the Company has made any payment of funds of the Company or
received or retained any funds in violation of any law, rule or regulation (including, without limitation, the Foreign Corrupt Practices
Act of 1977, which payment, receipt or retention of funds is of a character required to be disclosed in the Registration Statement or
the Prospectus).</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">(pp) <U>Compliance with Applicable
Laws</U>. The Company (A)&nbsp;to its knowledge, is and at all times has been in material compliance with all statutes, rules and regulations
applicable to the ownership, testing, development, manufacture, packaging, processing, use, distribution, marketing, labeling, promotion,
sale, offer for sale, storage, import, export or disposal of any product under development, manufactured or distributed by the Company
(&ldquo;<U>Applicable Laws</U>&rdquo;), (B)&nbsp;has not received any Form 483 from the FDA, notice of adverse finding, warning letter,
or other written correspondence or notice from the FDA or any other Israeli, federal, state, local or foreign governmental or regulatory
authority alleging or asserting material noncompliance with any Applicable Laws or any licenses, certificates, approvals, clearances,
authorizations, permits and supplements or amendments thereto required by any such Applicable Laws (&ldquo;<U>Authorizations</U>&rdquo;),
which would, individually or in the aggregate, result in a Material Adverse Effect; (C)&nbsp;possesses all material Authorizations and
such Authorizations are valid and in full force and effect and the Company is not in material violation of any term of any such Authorizations;
(D)&nbsp;has not received written notice of any claim, action, suit, proceeding, hearing, enforcement, investigation, arbitration or other
action from the FDA or any other Israeli, federal, state, local or foreign governmental or regulatory authority or third party alleging
that any Company product, operation or activity is in material violation of any Applicable Laws or Authorizations and has no knowledge
that the FDA or any other Israeli, federal, state, local or foreign governmental or regulatory authority or third party is considering
any such claim, litigation, arbitration, action, suit, investigation or proceeding against the Company; (E)&nbsp;has not received notice
that the FDA or any other Israeli, federal, state, local or foreign governmental or regulatory authority has taken, is taking or intends
to take action to limit, suspend, modify or revoke any material Authorizations and has no knowledge that the FDA or any other Israeli,
federal, state, local or foreign governmental or regulatory authority is considering such action; and (F)&nbsp;to its knowledge, has filed,
obtained, maintained or submitted all reports, documents, forms, notices, applications, records, claims, submissions and supplements or
amendments as required by any Applicable Laws or Authorizations except where the failure to file such reports, documents, forms, notices,
applications, records, claims, submissions and supplements or amendments would not result in a Material Adverse Effect, and that all such
reports, documents, forms, notices, applications, records, claims, submissions and supplements or amendments were materially complete
and correct on the date filed (or were corrected or supplemented by a subsequent submission).</P>

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

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

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">(qq) <U>Clinical Studies</U>.
All clinical trials conducted by the Company or on behalf of the Company were, and, if still pending are, to the Company&rsquo;s knowledge,
being conducted in all material respects in compliance with all Applicable Laws and in accordance with experimental protocols, procedures
and controls generally used by qualified experts in the clinical trials of new drugs and biologics as applied to comparable products to
those being developed by the Company; the descriptions of the results of such clinical trials contained in the Registration Statement
and the Prospectus are accurate in all material respects, and the Company has no knowledge of any other clinical trials, the results of
which reasonably call into question the clinical trial results described or referred to in the Registration Statement and the Prospectus
when viewed in the context in which such results are described; and the Company has not received any written notices or correspondence
from the FDA or any other domestic or foreign governmental agency requiring the termination or suspension of any clinical trials conducted
by or on behalf of the Company that are described in the Registration Statement and the Prospectus or the results of which are referred
to in the Registration Statement and the Prospectus.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">(rr) <U>Status Under the Securities
Act</U>. The Company was not and is not an ineligible issuer as defined in Rule 405 under the Securities Act at the times specified in
Rules 164 and 433 under the Securities Act in connection with the offering of the Placement Shares.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">(ss) <U>No&nbsp;Misstatement
or Omission in an Issuer Free Writing Prospectus</U>. Each Issuer Free Writing Prospectus, as of its issue date and as of each Applicable
Time (as defined in <U>Section&nbsp;24</U> below), did not, does not and will not include any information that conflicted, conflicts or
will conflict with the information contained in the Registration Statement or the Prospectus, including any incorporated document deemed
to be a part thereof that has not been superseded or modified. The foregoing sentence does not apply to statements in or omissions from
any Issuer Free Writing Prospectus based upon and in conformity with written information furnished to the Company by the Agent specifically
for use therein.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">(tt) <U>No&nbsp;Conflicts</U>.
Neither the execution of this Agreement, nor the issuance, offering or sale of the Placement Shares, nor the consummation of any of the
transactions contemplated herein and therein, nor the compliance by the Company with the terms and provisions hereof and thereof will
conflict with, or will result in a breach of, any of the terms and provisions of, or has constituted or will constitute a default under,
or has resulted in or will result in the creation or imposition of any lien, charge or encumbrance upon any property or assets of the
Company pursuant to the terms of any contract or other agreement to which the Company may be bound or to which any of the property or
assets of the Company is subject, except (i)&nbsp;such conflicts, breaches or defaults as may have been waived and (ii)&nbsp;such conflicts,
breaches and defaults that would not reasonably be expected to have a Material Adverse Effect; nor will such action result (x)&nbsp;in
any violation of the provisions of the organizational or governing documents of the Company, or (y)&nbsp;in any material violation of
the provisions of any statute or any order, rule or regulation applicable to the Company or of any court or of any federal, state or other
regulatory authority or other government body having jurisdiction over the Company.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">(uu) <U>OFAC</U>. Neither the
Company or any director, officer, agent, employee, affiliate or representative of the Company is a government, individual or entity (in
this paragraph (uu), &ldquo;<U>Person</U>&rdquo;) that is, or is owned or controlled by a Person that is, currently subject to any U.S.
sanctions administered by the Office of Foreign Assets Control of the U.S. Department of the Treasury (&ldquo;<U>OFAC</U>&rdquo;), the
United Nations Security Council (&ldquo;<U>UNSC</U>&rdquo;), the European Union (&ldquo;<U>EU</U>&rdquo;), His Majesty&rsquo;s Treasury
(&ldquo;<U>HMT</U>&rdquo;), or other relevant sanctions authority (collectively, &ldquo;<U>Sanctions</U>&rdquo;), nor located, organized
or resident in a country or territory that is the subject of Sanctions; provided however, that for the purposes of this paragraph (uu),
no person shall be an affiliate of the Company solely by reason of owning less than a majority of any class of voting securities of the
Company. The Company will not directly or indirectly use the proceeds of the offering of the Securities hereunder, or lend, contribute
or otherwise make available such proceeds to any subsidiary, joint venture partner or other person or entity, for the purpose of financing
the activities of any person currently subject to any U.S. sanctions administered by OFAC. The Company represents and covenants that,
except as detailed in the Prospectus, for the past 5 years, the Company has not knowingly engaged in, is 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.</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">(vv) <U>Stock Transfer Taxes</U>.
On each Settlement Date, all stock transfer or other taxes (other than income taxes) which are required to be paid in connection with
the sale and transfer of the Placement Shares to be sold hereunder will be, or will have been, fully paid or provided for by the Company
and all laws imposing such taxes will be or will have been fully complied with.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">(a) <U>Cybersecurity</U>. The
Company and its subsidiaries&rsquo; information technology assets and equipment, computers, systems, networks, hardware, software, websites,
applications, and databases (collectively, &ldquo;<U>IT Systems</U>&rdquo;) are adequate in all material respects for, and operate and
perform in all material respects as required in connection with the operation of the business of the Company as currently conducted, and
to the knowledge of the Company are, free and clear of all material bugs, errors, defects, Trojan horses, time bombs, malware and other
corruptants. The Company and its subsidiaries have implemented and maintained commercially reasonable physical, technical and administrative
controls, policies, procedures, and safeguards to maintain and protect their material confidential information and the integrity, continuous
operation, redundancy and security of all IT Systems and data, including all &ldquo;Personal Data&rdquo; (defined below) and all sensitive,
confidential or regulated data (&ldquo;<U>Confidential Data</U>&rdquo;) used in connection with their businesses. &ldquo;<U>Personal Data</U>&rdquo;
means (i) a natural person&rsquo;s name, street address, telephone number, e-mail address, photograph, social security number or tax identification
number, driver&rsquo;s license number, passport number, credit card number, bank information, or customer or account number; (ii) any
information which would qualify as &ldquo;personally identifying information&rdquo; under the Federal Trade Commission Act, as amended;
(iii) &ldquo;personal data&rdquo; as defined by GDPR; (iv) any information which would qualify as &ldquo;protected health information&rdquo;
under the Health Insurance Portability and Accountability Act of 1996, as amended by the Health Information Technology for Economic and
Clinical Health Act (collectively, &ldquo;<U>HIPAA</U>&rdquo;); (v) any &ldquo;personal information&rdquo; as defined by the California
Consumer Privacy Act (&ldquo;<U>CCPA</U>&rdquo;); and (vi) any other piece of information that allows the identification of such natural
person, or his or her family, or permits the collection or analysis of any data related to an identified person&rsquo;s health or sexual
orientation. There have been no breaches, violations, outages or unauthorized uses of or accesses to same, except for those that have
been remedied without material cost or liability or the duty to notify any other person, nor any incidents under internal review or investigations
relating to the same. The Company and its subsidiaries are presently in material compliance with all applicable laws or statutes and all
judgments, orders, rules and regulations of any court or arbitrator or governmental or regulatory authority, internal policies and contractual
obligations relating to the privacy and security of IT Systems, Confidential Data, and Personal Data and to the protection of such IT
Systems, Confidential Data, and Personal Data from unauthorized use, access, misappropriation or modification.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">(b) <U>Compliance with Data
Privacy Laws</U>. The Company and its subsidiaries are, and at all prior times were, in material compliance with all applicable state
and federal data privacy and security laws and regulations, including without limitation HIPAA, CCPA, and the European Union General Data
Protection Regulation (&ldquo;<U>GDPR</U>&rdquo;) (EU 2016/679) (collectively, the &ldquo;<U>Privacy Laws</U>&rdquo;). To ensure compliance
with the Privacy Laws, the Company has in place, complies with, and takes appropriate steps to ensure compliance in all material respects
with their policies and procedures relating to data privacy and security and the collection, storage, use, processing, disclosure, handling,
and analysis of Personal Data and Confidential Data (the &ldquo;<U>Policies</U>&rdquo;). The Company has at all times made all disclosures
to users or customers required by applicable laws and regulatory rules or requirements, and none of such disclosures made or contained
in any Policy have been inaccurate or in violation of any applicable laws and regulatory rules or requirements in any material respect.
The Company further certifies that neither it nor any subsidiary: (i) has received notice of any actual or potential liability under or
relating to, or actual or potential violation of, any of the Privacy Laws, and has no knowledge of any event or condition that would reasonably
be expected to result in any such notice; (ii) is currently conducting or paying for, in whole or in part, any investigation, remediation,
or other corrective action pursuant to any Privacy Law; or (iii) is a party to any order, decree, or agreement that imposes any obligation
or liability under any Privacy Law.</P>

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

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

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">(c) <U>Emerging Growth Company
Status</U>. From the time of the initial filing of the Company&rsquo;s first registration statement with the Commission through the date
hereof, the Company has been and is an &ldquo;emerging growth company,&rdquo; as defined in Section 2(a) of the Securities Act (an &ldquo;<U>Emerging
Growth Company</U>&rdquo;).</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">(d) <U>PFIC Status</U>. The
Company does not believe it was a &ldquo;passive foreign investment company&rdquo; (&ldquo;<U>PFIC</U>&rdquo;) as defined in Section 1297
of the U.S. Internal Revenue Code of 1986, as amended, for the fiscal year ended December 31, 2022 and, based on certain estimates of
the Company&rsquo;s gross income and the value of its assets, the intended use of proceeds from the offering and sale of the Placement
Shares and the nature of the Company&rsquo;s business, the Company does not expect to be classified as a PFIC for the fiscal year ending
December 31, 2023.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">(e) <U>CFC Status</U>. The Company
was not a &ldquo;controlled foreign corporation&rdquo; (&ldquo;<U>CFC</U>&rdquo;) as defined in the U.S. Internal Revenue Code of 1986,
as amended, for the taxable year ended December 31, 2022 and, based on the Company&rsquo;s expectations with respect to its shareholders,
the Company does not expect to be classified as a CFC for the taxable year ending December 31, 2023.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">(f) <U>Validity of Choice of
Law</U>. The choice of the laws of the State of New York as the governing law of this Agreement is a valid choice of law under the laws
of Israel and should be honored by courts in Israel. The Company has the power to submit, and pursuant to this Agreement, has legally,
validly, effectively and irrevocably submitted, to the personal jurisdiction of each the State of New York and United States Federal court
sitting in New York County (each, a &ldquo;<U>New York Court</U>&rdquo;) and has validly and irrevocably waived any objection to the laying
of venue of any suit, action or proceeding brought in any such court; and the Company has the power to designate, appoint and empower,
and pursuant to this Agreement, has legally, validly, effectively and irrevocably designated, appointed and empowered, an authorized agent
for service of process in any action arising out of or relating to this Agreement, or the offering of the Placement Shares in any New
York Court, and service of process effected on such authorized agent will be effective to confer valid personal jurisdiction over the
Company as provided in this Agreement.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Any certificate signed by an officer of the Company
and delivered to the Agent or to counsel for the Agent pursuant to or in connection with this Agreement shall be deemed to be a representation
and warranty by the Company, as applicable, to the Agent as to the matters set forth therein.</P>

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

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

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">7. <U>Covenants of the Company</U>. The Company
covenants and agrees with Agent that:</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">(a) <U>Registration Statement
Amendments</U>. After the date of this Agreement and during any period in which a Prospectus relating to any Placement Shares is required
to be delivered by Agent under the Securities Act (including in circumstances where such requirement may be satisfied pursuant to Rule
172 under the Securities Act) (the &ldquo;<U>Prospectus Delivery Period</U>&rdquo;) (i) the Company will notify the Agent promptly of
the time when any subsequent amendment to the Registration Statement, other than documents incorporated by reference, has been filed with
the Commission and/or has become effective or any subsequent supplement to the Prospectus has been filed and of any request by the Commission
for any amendment or supplement to the Registration Statement or Prospectus or for additional information, (ii) the Company will prepare
and file with the Commission, promptly upon the Agent&rsquo;s reasonable request, any amendments or supplements to the Registration Statement
or Prospectus that, in such Agent&rsquo;s reasonable opinion, may be necessary or advisable in connection with the distribution of the
Placement Shares by the Agent (provided, however, that the failure of the Agent to make such request shall not relieve the Company of
any obligation or liability hereunder, or affect the Agent&rsquo;s right to rely on the representations and warranties made by the Company
in this Agreement and provided, further, that the only remedy the Agent shall have with respect to the failure to make such filing shall
be to cease making sales under this Agreement until such amendment or supplement is filed); (iii) the Company will not file any amendment
or supplement to the Registration Statement or Prospectus relating to the Placement Shares or a security convertible into the Placement
Shares unless a copy thereof has been submitted to Agent within a reasonable period of time before the filing and the Agent has not objected
thereto (provided, however, that (A) the failure of the Agent to make such objection shall not relieve the Company of any obligation or
liability hereunder, or affect the Agent&rsquo;s right to rely on the representations and warranties made by the Company in this Agreement
and (B)&nbsp;the Company has no obligation to provide the Agent any advance copy of such filing or to provide the Agent an opportunity
to object to such filing if the filing does not name the Agent or does not relate to the transaction herein provided; and provided, further,
that the only remedy Agent shall have with respect to the failure to by the Company to obtain such consent shall be to cease making sales
under this Agreement) and the Company will furnish to the Agent at the time of filing thereof a copy of any document that upon filing
is deemed to be incorporated by reference into the Registration Statement or Prospectus, except for those documents available via EDGAR;
and (iv) the Company will cause each amendment or supplement to the Prospectus to be filed with the Commission as required pursuant to
the applicable paragraph of Rule 424(b) of the Securities Act or, in the case of any document to be incorporated therein by reference,
to be filed with the Commission as required pursuant to the Exchange Act, within the time period prescribed (the determination to file
or not file any amendment or supplement with the Commission under this Section 7(a), based on the Company&rsquo;s reasonable opinion or
reasonable objections, shall be made exclusively by the Company).</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">(b) <U>Notice of Commission
Stop Orders</U>. The Company will advise the Agent, promptly after it receives notice or obtains knowledge thereof, of the issuance or
threatened issuance by the Commission of any stop order suspending the effectiveness of the Registration Statement, of the suspension
of the qualification of the Placement Shares for offering or sale in any jurisdiction, or of the initiation or threatening of any proceeding
for any such purpose; and it will promptly use its commercially reasonable efforts to prevent the issuance of any stop order or to obtain
its withdrawal if such a stop order should be issued. The Company will advise the Agent promptly after it receives any request by the
Commission for any amendments to the Registration Statement or any amendment or supplements to the Prospectus or any Issuer Free Writing
Prospectus or for additional information related to the offering of the Placement Shares or for additional information related to the
Registration Statement, the Prospectus or any Issuer Free Writing Prospectus.</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">(c) <U>Delivery of Prospectus;
Subsequent Changes</U>. During the Prospectus Delivery Period, the Company will comply with all requirements imposed upon it by the Securities
Act, as from time to time in force, and to file on or before their respective due dates all reports and any definitive proxy or information
statements required to be filed by the Company with the Commission pursuant to Sections 13(a), 13(c), 14, 15(d) or any other provision
of or under the Exchange Act. If the Company has omitted any information from the Registration Statement pursuant to Rule 430A under the
Securities Act, it will use its best efforts to comply with the provisions of and make all requisite filings with the Commission pursuant
to said Rule 430A and to notify the Agent promptly of all such filings. If during the Prospectus Delivery Period any event occurs as a
result of which the Prospectus as then amended or supplemented would include an untrue statement of a material fact or omit to state a
material fact necessary to make the statements therein, in the light of the circumstances then existing, not misleading, or if during
the Prospectus Delivery Period it is necessary to amend or supplement the Registration Statement or Prospectus to comply with the Securities
Act, the Company will promptly notify Agent to suspend the offering of Placement Shares during such period and the Company will promptly
amend or supplement the Registration Statement or Prospectus (at the expense of the Company) so as to correct such statement or omission
or effect such compliance; provided, however, that the Company may delay the filing of any amendment or supplement, if in the judgment
of the Company, it is in the best interests of the Company.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">(d) <U>Listing of Placement
Shares</U>. During the Prospectus Delivery Period, the Company will use its commercially reasonable efforts to cause the Placement Shares
to be listed on the Exchange and to qualify the Placement Shares for sale under the securities laws of such jurisdictions as Agent reasonably
designates and to continue such qualifications in effect so long as required for the distribution of the Placement Shares; provided, however,
that the Company shall not be required in connection therewith to qualify as a foreign corporation or dealer in securities or file a general
consent to service of process in any jurisdiction.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">(e) <U>Delivery of Registration
Statement and Prospectus</U>. The Company will furnish to the Agent and its counsel (at the expense of the Company) copies of the Registration
Statement, the Prospectus (including all documents incorporated by reference therein) and all amendments and supplements to the Registration
Statement or Prospectus that are filed with the Commission during the Prospectus Delivery Period (including all documents filed with the
Commission during such period that are deemed to be incorporated by reference therein), in each case as soon as reasonably practicable
and in such quantities as the Agent may from time to time reasonably request and, at Agent&rsquo;s reasonable request, will also furnish
copies of the Prospectus to each exchange or market on which sales of the Placement Shares may be made; provided, however, that the Company
shall not be required to furnish any document (other than the Prospectus) to the Agent to the extent such document is available on EDGAR.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">(f) <U>Earnings Statement</U>.
The Company will make generally available to its security holders as soon as practicable, but in any event not later than 15 months after
the end of the Company&rsquo;s current fiscal quarter, an earnings statement covering a 12-month period that satisfies the provisions
of Section&nbsp;11(a) and Rule 158 of the Securities Act.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">(g) <U>Use of Proceeds</U>.
The Company will use the Net Proceeds as described in the Prospectus in the section entitled &ldquo;Use of Proceeds.&rdquo;</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">(h) <U>Notice of Other Sales</U>.
Without the prior written consent of Agent, which consent will not be unreasonably withheld, conditioned, or delayed, the Company will
not, directly or indirectly, offer to sell, sell, contract to sell, grant any option to sell or otherwise dispose of any Ordinary Shares
(other than the Placement Shares offered pursuant to this Agreement) or securities convertible into or exchangeable for Ordinary Shares,
warrants or any rights to purchase or acquire, Ordinary Shares during the period beginning on the date on which any Placement Notice is
delivered to Agent hereunder and ending on the second (2<SUP>nd</SUP>) Trading Day immediately following the final Settlement Date with
respect to Placement Shares sold pursuant to such Placement Notice (or, if the Placement Notice has been terminated or suspended prior
to the sale of all Placement Shares covered by a Placement Notice, the date of such suspension or termination); and will not directly
or indirectly in any other &ldquo;at the market&rdquo; or continuous equity transaction offer to sell, sell, contract to sell, grant any
option to sell or otherwise dispose of any Ordinary Shares (other than the Placement Shares offered pursuant to this Agreement) or securities
convertible into or exchangeable for Ordinary Shares, warrants or any rights to purchase or acquire, Ordinary Shares prior to the termination
of this Agreement; provided, however, that such restrictions will not be required in connection with the Company&rsquo;s issuance or sale
of (i) Ordinary Shares, restricted stock units, options to purchase Ordinary Shares or Ordinary Shares issuable upon the exercise of options,
pursuant to any employee or director stock option or benefits plan, stock ownership plan or dividend reinvestment plan (but not Ordinary
Shares subject to a waiver to exceed plan limits in its dividend reinvestment plan) of the Company whether now in effect or hereafter
implemented, (ii) Ordinary Shares issuable upon conversion of securities or the exercise of warrants, options or other rights in effect
or outstanding, and disclosed in filings by the Company available on EDGAR or otherwise in writing to the Agent, and (iii) Ordinary Shares,
or securities convertible into or exercisable for Ordinary Shares, offered and sold in a negotiated transaction to vendors, customers,
strategic partners or potential strategic partners, or acquisition candidates the primary purpose of which is not to raise capital.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">(i) <U>Change of Circumstances</U>.
The Company will, at any time during the pendency of a Placement Notice advise the Agent promptly after it shall have received notice
or obtained knowledge thereof, of any information or fact that would alter or affect in any material respect any opinion, certificate,
letter or other document required to be provided to the Agent pursuant to this Agreement.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">(j) <U>Due Diligence Cooperation</U>.
The Company will cooperate with any reasonable due diligence review conducted by the Agent or its representatives in connection with the
transactions contemplated hereby, including, without limitation, providing information and making available documents and senior corporate
officers, during regular business hours and at the Company&rsquo;s principal offices, as the Agent may reasonably request.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">(k) <U>Required Filings Relating
to Placement of Placement Shares</U>. The Company agrees that on such dates as the Securities Act shall require, the Company will (i)&nbsp;file
a prospectus supplement with the Commission under the applicable paragraph of Rule 424(b) under the Securities Act (each and every filing
under Rule 424(b), a &ldquo;<U>Filing Date</U>&rdquo;), which prospectus supplement will set forth, within the relevant period, the amount
of Placement Shares sold through the Agent, the Net Proceeds to the Company and the compensation payable by the Company to the Agent with
respect to such Placement Shares, and (ii)&nbsp;deliver such number of copies of each such prospectus supplement to each exchange or market
on which such sales were effected as may be required by the rules or regulations of such exchange or market.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">(l) <U>Representation Dates;
Certificate</U>. On the date of this Agreement and within five (5)&nbsp;trading days of each time the Company:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in">(i) files the Prospectus relating
to the Placement Shares or amends or supplements (other than a prospectus supplement relating solely to an offering of securities other
than the Placement Shares), the Registration Statement or the Prospectus relating to the Placement Shares by means of a post-effective
amendment, sticker, or supplement but not by means of incorporation of documents by reference into the Registration Statement or the Prospectus
relating to the Placement Shares;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in"></P>

<!-- Field: Page; Sequence: 21; Value: 2 -->
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    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in">(ii) files an annual report
on Form 20-F under the Exchange Act (including any Form 20-F/A containing amended financial information or a material amendment to the
previously filed Form 20-F);</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in">(iii) furnishes its unaudited
semi-annual financial statements and management&rsquo;s discussion and analysis on Form 6-K under the Exchange Act; or</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in">(iv) files a current report
on Form 6-K containing amended financial information under the Exchange Act; (Each date of filing of one or more of the documents referred
to in clauses (i)&nbsp;through (iv)&nbsp;shall be a &ldquo;<U>Representation Date</U>&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">the Company shall furnish the
Agent (but in the case of clause (iv)&nbsp;above only if the Agent reasonably determines that the information contained in such Form 6-K
is material) with a certificate, in the form attached hereto as Exhibit 7(l) (the &ldquo;<U>Representation Date Certificate</U>&rdquo;);
provided however, if no Placement Notice is pending at such Representation Date, then before the Company delivers a Placement Notice or
the Agent sells any Placement Shares, the Company shall provide the Agent with a Representation Date Certificate. The requirement to provide
a Representation Date Certificate shall be waived for any Representation Date occurring at a time at which no Placement Notice is pending,
which waiver shall continue until the earlier to occur of the date the Company delivers a Placement Notice hereunder (which for such calendar
quarter shall be considered a Representation Date) and the next occurring Representation Date; provided, however, that such waiver shall
not apply for any Representation Date on which the Company files its annual report on Form 20-F. Notwithstanding the foregoing, if the
Company subsequently decides to sell Placement Shares following a Representation Date when the Company relied on such waiver and did not
provide the Agent with a Representation Date Certificate, then before the Company delivers the Placement Notice or the Agent sells any
Placement Shares, the Company shall provide the Agent with a Representation Date Certificate, dated the date of the Placement Notice.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">(m) <U>Legal Opinion</U>. On
the date of this Agreement, the Company shall cause to be furnished to the Agent (i) a written opinion and negative assurance letter of
Sullivan &amp; Worcester LLP (&ldquo;<U>U.S. Company Counsel</U>&rdquo;) and (ii) a written opinion of Sullivan &amp; Worcester Tel-Aviv
(Har-Even &amp; Co.) (&ldquo;<U>Israeli Company Counsel</U>&rdquo;). Thereafter, within five (5)&nbsp;Trading Days of each Representation
Date with respect to which the Company is obligated to deliver a Representation Date Certificate for which no waiver is applicable, the
Company shall cause to be furnished to the Agent a negative assurance letter of U.S. Company Counsel in form and substance satisfactory
to Agent and its counsel; provided however, if no placement notice is pending at such Representation Date, then before the Company delivers
a Placement Notice or the Agent sells any Placement Shares, the Company shall provide the Agent with such negative assurance letter; provided,
further, that in lieu of such negative assurance letter for subsequent periodic filings under the Exchange Act, counsel may furnish the
Agent with a letter (a &ldquo;<U>Reliance Letter</U>&rdquo;) to the effect that the Agent may rely on a prior negative assurance letter
delivered under this Section&nbsp;7(m) to the same extent as if it were dated the date of such letter (except that statements in such
prior negative assurance letter shall be deemed to relate to the Registration Statement and the Prospectus as amended or supplemented
as of the date of the Reliance Letter).</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">(n) <U>Comfort Letter</U>. (1)&nbsp;On
the date of this Agreement and (2)&nbsp;within five (5)&nbsp;Trading Days of each Representation Date, with respect to which the Company
is obligated to deliver a certificate in the form attached hereto as Exhibit 7(l) for which no waiver is applicable, the Company shall
cause its independent accountants to furnish the Agent letters (the &ldquo;<U>Comfort Letters</U>&rdquo;), dated the date the Comfort
Letter is delivered, which shall meet the requirements set forth in this Section&nbsp;7(n); provided however, if no Placement Notice is
pending at such Representation Date, then before the Company delivers a Placement Notice or the Agent sells any Placement Shares, the
Company shall provide the Agent with the Comfort Letter; provided, further, that if requested by the Agent, the Company shall cause a
Comfort Letter to be furnished to the Agent within ten (10)&nbsp;Trading Days of the date of occurrence of any material transaction or
event, including the restatement of the Company&rsquo;s financial statements. The Comfort Letter from the Company&rsquo;s independent
accountants shall be in a form and substance satisfactory to the Agent, (i)&nbsp;confirming that they are an independent public accounting
firm within the meaning of the Securities Act and the Public Company Accounting Oversight Board (the &ldquo;<U>PCAOB</U>&rdquo;), (ii)&nbsp;stating,
as of such date, the conclusions and findings of such firm with respect to the financial information and other matters ordinarily covered
by accountants&rsquo; &ldquo;comfort letters&rdquo; to underwriters in connection with registered public offerings (the first such letter,
the &ldquo;<U>Initial Comfort Letter</U>&rdquo;) and (iii)&nbsp;updating the Initial Comfort Letter with any information that would have
been included in the Initial Comfort Letter had it been given on such date and modified as necessary to relate to the Registration Statement
and the Prospectus, as amended and supplemented to the date of such letter.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">(o) <U>Market Activities</U>.
The Company will not, directly or indirectly, (i)&nbsp;take any action designed to cause or result in, or that constitutes or might reasonably
be expected to constitute, the stabilization or manipulation of the price of any security of the Company to facilitate the sale or resale
of Ordinary Shares or (ii)&nbsp;sell, bid for, or purchase Ordinary Shares, or pay anyone any compensation for soliciting purchases of
the Placement Shares other than the Agent.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">(p) <U>Investment Company Act</U>.
The Company will conduct its affairs in such a manner so as to reasonably ensure that it will not become, at any time prior to the termination
of this Agreement, an &ldquo;investment company,&rdquo; as such term is defined in the Investment Company Act.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">(q) <U>No&nbsp;Offer to Sell</U>.
Other than an Issuer Free Writing Prospectus approved in advance by the Company and the Agent in its capacity as agent hereunder, neither
the Agent nor the Company (including its agents and representatives, other than Agent in their capacity as such) will make, use, prepare,
authorize, approve or refer to any written communication (as defined in Rule 405 under the Securities Act), required to be filed with
the Commission, that constitutes an offer to sell or solicitation of an offer to buy Placement Shares hereunder.</P>

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

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

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">(r) <U>Sarbanes-Oxley Act</U>.
The Company will maintain and keep accurate books and records reflecting its assets and maintain internal accounting controls in a manner
designed to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements
for external purposes in accordance with IFRS and including those policies and procedures that (i)&nbsp;pertain to the maintenance of
records that in reasonable detail accurately and fairly reflect the transactions and dispositions of the assets of the Company, (ii)&nbsp;provide
reasonable assurance that transactions are recorded as necessary to permit the preparation of the Company&rsquo;s consolidated financial
statements in accordance with IFRS, (iii)&nbsp;that receipts and expenditures of the Company are being made only in accordance with management&rsquo;s
and the Company&rsquo;s directors&rsquo; authorization, and (iv)&nbsp;provide reasonable assurance regarding prevention or timely detection
of unauthorized acquisition, use or disposition of the Company&rsquo;s assets that could have a material effect on its financial statements.
The Company will use commercially reasonable efforts to maintain such controls and other procedures, including, without limitation, those
required by Sections 302 and 906 of the Sarbanes-Oxley Act, and the applicable regulations thereunder that are designed to ensure that
information required to be disclosed by the Company in the reports that it files or submits under the Exchange Act is recorded, processed,
summarized and reported, within the time periods specified in the Commission&rsquo;s rules and forms, including, without limitation, controls
and procedures designed to ensure that information required to be disclosed by the Company in the reports that it files or submits under
the Exchange Act is accumulated and communicated to the Company&rsquo;s management, including its principal executive officer and principal
financial officer, or persons performing similar functions, as appropriate to allow timely decisions regarding required disclosure and
to ensure that material information relating to the Company is made known to it by others within the Company, particularly during the
period in which such periodic reports are being prepared.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">(s) <U>Emerging Growth Company
Status</U>. The Company will promptly notify the Agents if the Company ceases to be an Emerging Growth Company at any time during the
term of this Agreement.</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">8. <U>Payment of Expenses</U>.
The Company will pay all expenses incident to the performance of its obligations under this Agreement, including (i)&nbsp;the preparation,
filing, including any fees required by the Commission, and printing of the Registration Statement (including financial statements and
exhibits) as originally filed and of each amendment and supplement thereto, in such number as the Agent shall deem necessary, (ii)&nbsp;the
printing and delivery to the Agent of this Agreement and such other documents as may be required in connection with the offering, purchase,
sale, issuance or delivery of the Placement Shares, (iii)&nbsp;the preparation, issuance and delivery of the certificates, if any, for
the Placement Shares to the Agent, including any stock or other transfer taxes and any capital duties, stamp duties or other duties or
taxes payable upon the sale, issuance or delivery of the Placement Shares to the Agent, (iv)&nbsp;the fees and disbursements of the counsel,
accountants and other advisors to the Company, (v)&nbsp;the reasonable out-of-pocket expenses of Agent, including fees and disbursements
of counsel to the Agent up to $40,000 (which amount shall include all fees and disbursements of such counsel described in clause (ix)
below) and quarterly disbursements of counsel to the Agent up to $5,000 per calendar quarter, (vi)&nbsp;the printing and delivery to the
Agent of copies of any Permitted Issuer Free Writing Prospectus (defined below) and the Prospectus and any amendments or supplements thereto
in such number as the Agent shall deem necessary, (vii)&nbsp;the preparation, printing and delivery to the Agent of copies of the blue
sky survey and any Canadian &ldquo;wrapper&rdquo; and any supplements thereto, in such number as the Agent shall deem necessary, (viii)&nbsp;the
fees and expenses of the transfer agent and registrar for the Ordinary Shares, (ix)&nbsp;the fees and expenses incident to any review
by FINRA of the terms of the sale of the Placement Shares, including reasonable and documented fees and expenses of counsel to the Agent,
and (x)&nbsp;the fees and expenses incurred in connection with the listing of the Placement Shares on the Exchange.</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">9. <U>Conditions to Agent&rsquo;s
Obligations</U>. The obligations of the Agent hereunder with respect to a Placement will be subject to the continuing accuracy and completeness
of the representations and warranties made by the Company herein, to the due performance by the Company of its obligations hereunder,
to the completion by the Agent of a due diligence review satisfactory to it in its reasonable judgment, and to the continuing satisfaction
(or waiver by the Agent in its sole discretion) of the following additional conditions:</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">(a) <U>Registration Statement
Effective</U>. The Registration Statement shall have become effective and shall be available for the sale of all Placement Shares contemplated
to be issued by any Placement Notice.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">(b) <U>No&nbsp;Material Notices</U>.
None of the following events shall have occurred and be continuing: (i)&nbsp;receipt by the Company of any request for additional information
from the Commission or any other federal or state governmental authority during the period of effectiveness of the Registration Statement,
the response to which would require any post-effective amendments or supplements to the Registration Statement or the Prospectus; (ii)&nbsp;the
issuance by the Commission or any other federal or state governmental authority of any stop order suspending the effectiveness of the
Registration Statement or the initiation of any proceedings for that purpose; (iii)&nbsp;receipt by the Company of any notification with
respect to the suspension of the qualification or exemption from qualification of any of the Placement Shares for sale in any jurisdiction
or the initiation or threatening of any proceeding for such purpose; or (iv)&nbsp;the occurrence of any event that makes any material
statement made in the Registration Statement or the Prospectus or any material document incorporated or deemed to be incorporated therein
by reference untrue in any material respect or that requires the making of any changes in the Registration Statement, the Prospectus or
documents so that, in the case of the Registration Statement, it will not contain any materially 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, that in
the case of the Prospectus, it will not contain any materially 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.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">(c) <U>No&nbsp;Misstatement
or Material Omission</U>. Agent shall not have advised the Company that the Registration Statement or Prospectus, or any amendment or
supplement thereto, contains an untrue statement of fact that in the Agent&rsquo;s reasonable opinion is material, or omits to state a
fact that in the Agent&rsquo;s opinion is material and is required to be stated therein or is necessary to make the statements therein
not misleading.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">(d) <U>Material Changes</U>.
Except as contemplated in the Prospectus, or disclosed in the Company&rsquo;s reports filed with the Commission, there shall not have
been any material adverse change, on a consolidated basis, in the authorized capital stock of the Company or any Material Adverse Effect,
or any development that could reasonably be expected to cause a Material Adverse Effect, or a downgrading in or withdrawal of the rating
assigned to any of the Company&rsquo;s securities (other than asset backed securities) by any rating organization or a public announcement
by any rating organization that it has under surveillance or review its rating of any of the Company&rsquo;s securities (other than asset
backed securities), the effect of which, in the case of any such action by a rating organization described above, in the reasonable judgment
of the Agent (without relieving the Company of any obligation or liability it may otherwise have), is so material as to make it impracticable
or inadvisable to proceed with the offering of the Placement Shares on the terms and in the manner contemplated in the Prospectus.</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">(e) <U>Legal Opinion</U>. The
Agent shall have received the opinions and negative assurance letters of U.S. Company Counsel and Israeli Company Counsel required to
be delivered pursuant Section&nbsp;7(m) on or before the date on which such delivery of such opinion and/or negative assurance letter
is required pursuant to Section&nbsp;7(m).</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">(f) <U>[RESERVED].</U></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">(g) <U>Comfort Letter</U>. The
Agent shall have received the Comfort Letter required to be delivered pursuant Section&nbsp;7(n) on or before the date on which such delivery
of such Comfort Letter is required pursuant to Section&nbsp;7(n).</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">(h) <U>Representation Certificate</U>.
The Agent shall have received the certificate required to be delivered pursuant to Section&nbsp;7(l) on or before the date on which delivery
of such certificate is required pursuant to Section&nbsp;7(l).</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">(i) <U>Secretary&rsquo;s Certificate</U>.
On the date of this Agreement, the Agent shall have received a certificate, signed on behalf of the Company by its corporate Secretary,
in form and substance satisfactory to the Agent and its counsel.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">(j) <U>No&nbsp;Suspension</U>.
Trading in the Ordinary Shares shall not have been suspended on the Exchange, and the Ordinary Shares shall not have been delisted from
the Exchange.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">(k) <U>Other Materials</U>.
On each date on which the Company is required to deliver a certificate pursuant to Section&nbsp;7(l), the Company shall have furnished
to the Agent such appropriate further information, certificates and documents as the Agent may reasonably request. All such opinions,
certificates, letters and other documents will be in compliance with the provisions hereof. The Company will furnish the Agent with such
conformed copies of such opinions, certificates, letters and other documents as the Agent shall reasonably request.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">(l) <U>Securities Act Filings
Made</U>. All filings with the Commission required by Rule 424 under the Securities Act to have been filed prior to the issuance of any
Placement Notice hereunder shall have been made within the applicable time period prescribed for such filing by Rule 424.</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">(m) <U>Approval for Listing</U>.
The Placement Shares shall either have been approved for listing quotation on the Exchange, subject only to notice of issuance, or the
Company shall have filed an application for listing quotation of the Placement Shares on the Exchange at, or prior to, the issuance of
any Placement Notice.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">(n) <U>No&nbsp;Termination Event</U>.
There shall not have occurred any event that would permit the Agent to terminate this Agreement pursuant to Section&nbsp;12(a).</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">10. <U>Indemnification and
Contribution</U>.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">(a) <U>Company Indemnification</U>.
The Company agrees to indemnify and hold harmless the Agent, its partners, members, directors, officers, employees and agents and each
person, if any, who controls the Agent within the meaning of Section&nbsp;15 of the Securities Act or Section&nbsp;20 of the Exchange
Act as follows:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in">(i) against any and all loss,
liability, claim, damage and expense whatsoever, as incurred, joint or several, arising out of or based upon any untrue statement or alleged
untrue statement of a material fact contained in the Registration Statement (or any amendment thereto), or the omission or alleged omission
therefrom of a material fact required to be stated therein or necessary to make the statements therein not misleading, or arising out
of any untrue statement or alleged untrue statement of a material fact included in any related Issuer Free Writing Prospectus or the Prospectus
(or any amendment or supplement thereto), or the omission or alleged omission therefrom of a material fact necessary in order to make
the statements therein, in the light of the circumstances under which they were made, not misleading;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in">(ii) against any and all loss,
liability, claim, damage and expense whatsoever, as incurred, joint or several, to the extent of the aggregate amouint paid in settlement
of any litigation, or any investigation or proceeding by any governmental agency or body, commenced or threatened, or of any claim whatsoever
based upon any such untrue statement or omission, or any such alleged untrue statement or omission; provided that (subject to Section&nbsp;10(d)
below) any such settlement is effected with the written consent of the Agent, which consent shall not unreasonably be delayed or withheld;
and</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in">(iii) against any and all
expense whatsoever, as incurred (including the fees and disbursements of counsel), reasonably incurred in investigating, preparing or
defending against any litigation, or any investigation or proceeding by any governmental agency or body, commenced or threatened, or any
claim whatsoever based upon any such untrue statement or omission, or any such alleged untrue statement or omission, to the extent that
any such expense is not paid under (i)&nbsp;or (ii)&nbsp;above, <U>provided</U>, <U>however</U>, that this indemnity agreement shall not
apply to any loss, liability, claim, damage or expense to the extent arising out of any untrue statement or omission or alleged untrue
statement or omission made solely in reliance upon and in conformity with written information furnished to the Company by the Agent expressly
for use in the Registration Statement (or any amendment thereto), or in any related Issuer Free Writing Prospectus or the Prospectus (or
any amendment or supplement thereto).</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">(b) <U>Agent Indemnification</U>.
Agent agrees to indemnify and hold harmless the Company and its directors and each officer of the Company who signed the Registration
Statement, and each person, if any, who (i)&nbsp;controls the Company within the meaning of Section&nbsp;15 of the Securities Act or Section&nbsp;20
of the Exchange Act or (ii)&nbsp;is controlled by or is under common control with the Company against any and all loss, liability, claim,
damage and expense described in the indemnity contained in Section&nbsp;10(a), as incurred, but only with respect to untrue statements
or omissions, or alleged untrue statements or omissions, made in the Registration Statement (or any amendments thereto) or the Prospectus
(or any amendment or supplement thereto) in reliance upon and in conformity with information relating to the Agent and furnished to the
Company in writing by the Agent expressly for use therein.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">(c) <U>Procedure</U>. Any party
that proposes to assert the right to be indemnified under this Section&nbsp;10 will, promptly after receipt of notice of commencement
of any action against such party in respect of which a claim is to be made against an indemnifying party or parties under this Section&nbsp;10,
notify each such indemnifying party of the commencement of such action, enclosing a copy of all papers served, but the omission so to
notify such indemnifying party will not relieve the indemnifying party from (i)&nbsp;any liability that it might have to any indemnified
party otherwise than under this Section&nbsp;10 and (ii)&nbsp;any liability that it may have to any indemnified party under the foregoing
provision of this Section&nbsp;10 unless, and only to the extent that, such omission results in the forfeiture of substantive rights or
defenses by the indemnifying party. If any such action is brought against any indemnified party and it notifies the indemnifying party
of its commencement, the indemnifying party will be entitled to participate in and, to the extent that it elects by delivering written
notice to the indemnified party promptly after receiving notice of the commencement of the action from the indemnified party, jointly
with any other indemnifying party similarly notified, to assume the defense of the action, with counsel reasonably satisfactory to the
indemnified party, and after notice from the indemnifying party to the indemnified party of its election to assume the defense, the indemnifying
party will not be liable to the indemnified party for any legal or other expenses except as provided below and except for the reasonable
costs of investigation subsequently incurred by the indemnified party in connection with the defense. The indemnified party will have
the right to employ its own counsel in any such action, but the fees, expenses and other charges of such counsel will be at the expense
of such indemnified party unless (1)&nbsp;the employment of counsel by the indemnified party has been authorized in writing by the indemnifying
party, (2)&nbsp;the indemnified party has reasonably concluded (based on written advice of counsel) that there may be legal defenses available
to it or other indemnified parties that are different from or in addition to those available to the indemnifying party, (3)&nbsp;a conflict
or potential conflict exists (based on written advice of counsel to the indemnified party) between the indemnified party and the indemnifying
party (in which case the indemnifying party will not have the right to direct the defense of such action on behalf of the indemnified
party) or (4)&nbsp;the indemnifying party has not in fact employed counsel to assume the defense of such action within a reasonable time
after receiving notice of the commencement of the action, in each of which cases the reasonable and documented fees, disbursements and
other charges of counsel will be at the expense of the indemnifying party or parties. It is understood that the indemnifying party or
parties shall not, in connection with any proceeding or related proceedings in the same jurisdiction, be liable for the reasonable and
documented fees, disbursements and other charges of more than one separate firm admitted to practice in such jurisdiction at any one time
for all such indemnified party or parties. All such fees, disbursements and other charges will be reimbursed by the indemnifying party
promptly after the indemnifying party receives a written invoice relating to fees, disbursements and other charges in reasonable detail.
An indemnifying party will not, in any event, be liable for any settlement of any action or claim effected without its written consent.
No&nbsp;indemnifying party shall, without the prior written consent of each indemnified party, settle or compromise or consent to the
entry of any judgment in any pending or threatened claim, action or proceeding relating to the matters contemplated by this Section&nbsp;10
(whether or not any indemnified party is a party thereto), unless such settlement, compromise or consent (1)&nbsp;includes an unconditional
release of each indemnified party from all liability arising out of such litigation, investigation, proceeding or claim and (2)&nbsp;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.</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">(d) <U>Contribution</U>. In
order to provide for just and equitable contribution in circumstances in which the indemnification provided for in the foregoing paragraphs
of this Section&nbsp;10 is applicable in accordance with its terms but for any reason is held to be unavailable from the Company or the
Agent, the Company and the Agent will contribute to the total losses, claims, liabilities, expenses and damages (including any investigative,
legal and other expenses reasonably incurred in connection with, and any amount paid in settlement of, any action, suit or proceeding
or any claim asserted, but after deducting any contribution received by the Company from persons other than the Agent, such as persons
who control the Company within the meaning of the Securities Act, officers of the Company who signed the Registration Statement and directors
of the Company, who also may be liable for contribution) to which the Company and the Agent may be subject in such proportion as shall
be appropriate to reflect the relative benefits received by the Company on the one hand and the Agent on the other hand. The relative
benefits received by the Company on the one hand and the Agent on the other hand shall be deemed to be in the same proportion as the total
net proceeds from the sale of the Placement Shares (before deducting expenses) received by the Company bear to the total compensation
received by the Agent (before deducting expenses) from the sale of Placement Shares on behalf of the Company. If, but only if, the allocation
provided by the foregoing sentence is not permitted by applicable law, the allocation of contribution shall be made in such proportion
as is appropriate to reflect not only the relative benefits referred to in the foregoing sentence but also the relative fault of the Company,
on the one hand, and the Agent, on the other hand, with respect to the statements or omission that resulted in such loss, claim, liability,
expense or damage, or action in respect thereof, as well as any other relevant equitable considerations with respect to such offering.
Such relative fault shall be determined by reference to, among other things, whether the untrue or alleged untrue statement of a material
fact or omission or alleged omission to state a material fact relates to information supplied by the Company or the Agent, the intent
of the parties and their relative knowledge, access to information and opportunity to correct or prevent such statement or omission. The
Company and the Agent agree that it would not be just and equitable if contributions pursuant to this Section&nbsp;10(d) were to be determined
by pro rata allocation or by any other method of allocation that does not take into account the equitable considerations referred to herein.
The amount paid or payable by an indemnified party as a result of the loss, claim, liability, expense, or damage, or action in respect
thereof, referred to above in this Section&nbsp;10(d) shall be deemed to include, for the purpose of this Section&nbsp;10(d), any legal
or other expenses reasonably incurred by such indemnified party in connection with investigating or defending any such action or claim
to the extent consistent with Section&nbsp;10(c) hereof. Notwithstanding the foregoing provisions of this Section&nbsp;10(d), the Agent
shall not be required to contribute any amount in excess of the commissions received by it under this Agreement and no person found guilty
of fraudulent misrepresentation (within the meaning of Section&nbsp;11(f) of the Securities Act) will be entitled to contribution from
any person who was not guilty of such fraudulent misrepresentation. For purposes of this Section&nbsp;10(d), any person who controls a
party to this Agreement within the meaning of the Securities Act, and any officers, directors, partners, employees or agents of the Agent,
will have the same rights to contribution as that party, and each officer of the Company who signed the Registration Statement will have
the same rights to contribution as the Company, subject in each case to the provisions hereof. Any party entitled to contribution, promptly
after receipt of notice of commencement of any action against such party in respect of which a claim for contribution may be made under
this Section&nbsp;10(d), will notify any such party or parties from whom contribution may be sought, but the omission to so notify will
not relieve that party or parties from whom contribution may be sought from any other obligation it or they may have under this Section&nbsp;10(d)
except to the extent that the failure to so notify such other party materially prejudiced the substantive rights or defenses of the party
from whom contribution is sought. Except for a settlement entered into pursuant to the last sentence of Section&nbsp;10(c) hereof, no
party will be liable for contribution with respect to any action or claim settled without its written consent if such consent is required
pursuant to Section&nbsp;10(c) hereof.</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">11. <U>Additional Covenants</U>.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">(a) <U>Representations and Covenants
of the Agent</U>. The Agent represents and warrants that it is duly registered as a broker-dealer under FINRA, the Exchange Act and the
applicable statutes and regulations of each state in which the Placement Shares will be offered and sold, except such states in which
the Agent is exempt from registration or such registration is not otherwise required. The Agent shall continue, for the term of this Agreement,
to be duly registered as a broker-dealer under FINRA, the Exchange Act and the applicable statutes and regulations of each state in which
the Placement Shares will be offered and sold, except such states in which the Agent is exempt from registration or such registration
is not otherwise required, during the term of this Agreement. The Agent shall comply with all applicable law and regulations in connection
with the transactions contemplated by this Agreement, including the issuance and sale through the Agent of the Placement Shares.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">(b) <U>Representations and Agreements
to Survive Delivery</U>. The indemnity and contribution agreements contained in Section&nbsp;10 of this Agreement and all representations
and warranties of the Company herein or in certificates delivered pursuant hereto shall survive, as of their respective dates, regardless
of (i)&nbsp;any investigation made by or on behalf of the Agent, any controlling persons, or the Company (or any of their respective officers,
directors or controlling persons), (ii)&nbsp;delivery and acceptance of the Placement Shares and payment therefor or (iii)&nbsp;any termination
of this Agreement.</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">12. <U>Termination</U>.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">(a) The Agent may terminate
this Agreement, by notice to the Company, as hereinafter specified at any time (1)&nbsp;if there has been, since the time of execution
of this Agreement or since the date as of which information is given in the Prospectus, any Material Adverse Effect, or any development
that is reasonably likely to have a Material Adverse Effect or, in the sole judgment of the Agent, is material and adverse and makes it
impractical or inadvisable to market the Placement Shares or to enforce contracts for the sale of the Placement Shares, (2)&nbsp;if there
has occurred any material adverse change in the financial markets in the United States or the international financial markets, any outbreak
of hostilities or escalation thereof or other calamity or crisis or any change or development involving a prospective change in national
or international political, financial or economic conditions, in each case the effect of which is such as to make it, in the judgment
of the Agent, impracticable or inadvisable to market the Placement Shares or to enforce contracts for the sale of the Placement Shares,
(3)&nbsp;if trading in the Ordinary Shares has been suspended or limited by the Commission or the Exchange, or if trading generally on
the Exchange has been suspended or limited, or minimum prices for trading have been fixed on the Exchange, (4)&nbsp;if any suspension
of trading of any securities of the Company on any exchange or in the over-the-counter market shall have occurred and be continuing, (5)&nbsp;if
a major disruption of securities settlements or clearance services in the United States shall have occurred and be continuing, or (6)&nbsp;if
a banking moratorium has been declared by either U.S. Federal or New York authorities. Any such termination shall be without liability
of any party to any other party except that the provisions of Section&nbsp;8 (Expenses), Section&nbsp;10 (Indemnification), Section&nbsp;11
(Survival of Representations), Section&nbsp;17 (Governing Law; Consent to Jurisdiction) and Section&nbsp;18 (Waiver of Jury Trial) hereof
shall remain in full force and effect notwithstanding such termination. If the Agent elects to terminate this Agreement as provided in
this Section&nbsp;12(a), the Agent shall provide the required notice as specified in Section&nbsp;13 (Notices).</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">(b) The Company shall have the
right, by giving five (5) days&rsquo; written notice as hereinafter specified, to terminate this Agreement in its sole discretion at any
time after the date of this Agreement. Any such termination shall be without liability of any party to any other party except that the
provisions of Section&nbsp;8, Section&nbsp;10, Section&nbsp;11, Section&nbsp;17 and Section&nbsp;18 hereof shall remain in full force
and effect notwithstanding such termination.</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">(c) The Agent shall have the
right, by giving five (5) days&rsquo; written notice as hereinafter specified, to terminate this Agreement in its sole discretion at any
time after the date of this Agreement. Any such termination shall be without liability of any party to any other party except that the
provisions of Section&nbsp;8, Section&nbsp;10, Section&nbsp;11, Section&nbsp;17 and Section&nbsp;18 hereof shall remain in full force
and effect notwithstanding such termination.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">(d) Unless earlier terminated
pursuant to this Section&nbsp;12, this Agreement shall automatically terminate upon the issuance and sale of all of the Placement Shares
through the Agent on the terms and subject to the conditions set forth herein; provided that the provisions of Section&nbsp;8, Section&nbsp;10,
Section&nbsp;11, Section&nbsp;17 and Section&nbsp;18 hereof shall remain in full force and effect notwithstanding such termination.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">(e) This Agreement shall remain
in full force and effect unless terminated pursuant to Sections 12(a), (b), (c), or (d)&nbsp;above or otherwise by mutual agreement of
the parties; provided, however, that any such termination by mutual agreement shall in all cases be deemed to provide that Section&nbsp;8,
Section&nbsp;10, Section&nbsp;11, Section&nbsp;17 and Section&nbsp;18 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: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">(f) Any termination of this
Agreement shall be effective on the date specified in such notice of termination; provided, however, that such termination shall not be
effective until the close of business on the date of receipt of such notice by the Agent or the Company, as the case may be. If such termination
shall occur prior to the Settlement Date for any sale of Placement Shares, such Placement Shares shall settle in accordance with the provisions
of this Agreement.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">(g) Subject to the additional
limitations set forth in Section&nbsp;8 of this Agreement, in the event of termination of this Agreement prior to the sale of any Placement
Shares, the Agent shall be entitled only to reimbursement of its out-of-pocket expenses actually incurred.</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">13. <U>Notices</U>. All notices
or other communications required or permitted to be given by any party to any other party pursuant to the terms of this Agreement shall
be in writing, unless otherwise specified, and if sent to the Agent, shall be delivered to:</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">Roth Capital Partners, LLC</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">888 San Clemente</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">Newport Beach, CA 92660</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">Fax No.: (949) 720-7227</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">Attention: Managing Director</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">and</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">Duane Morris LLP</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">1540 Broadway</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">New York, NY 10036</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">E-mail: dmcolucci@duanemorris.com</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">and if to the Company, shall be delivered to:</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">Inspira Technologies Oxy B.H.N. Ltd.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">2 Ha-Tidhar St.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">Ra&rsquo;anana, 4366504 Israel</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">E-mail: dagi@inspirao2.com</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"></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 0pt 0.5in; text-align: justify">with a copy to:</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">Sullivan &amp; Worcester LLP</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">1633 Broadway</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">New York, NY 10019</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">Attn: Ron Ben-Bassat, Esq.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">E-mail: rbenbassat@sullivanlaw.com</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: 0.5in">Each party to this Agreement
may change such address for notices by sending to the parties to this Agreement written notice of a new address for such purpose. Each
such notice or other communication shall be deemed given (i)&nbsp;when delivered personally or by verifiable facsimile transmission (with
an original to follow) on or before 4:30&nbsp;p.m., New York City time, on a Business Day or, if such day is not a Business Day, on the
next succeeding Business Day, (ii)&nbsp;on the next Business Day after timely delivery to a nationally-recognized overnight courier and
(iii)&nbsp;on the Business Day actually received if deposited in the U.S. mail (certified or registered mail, return receipt requested,
postage prepaid).</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">An electronic communication
(&ldquo;<U>Electronic Notice</U>&rdquo;) shall be deemed written notice for purposes of this Section&nbsp;13 if sent to the electronic
mail address specified by the receiving party under separate cover. Electronic Notice shall be deemed received at the time the party sending
Electronic Notice receives verification of receipt by the receiving party. Any party receiving Electronic Notice may request and shall
be entitled to receive the notice on paper, in a nonelectronic form (&ldquo;<U>Nonelectronic Notic</U>e&rdquo;) which shall be sent to
the requesting party within ten (10)&nbsp;days of receipt of the written request for Nonelectronic Notice.</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">14. <U>Successors and Assigns</U>.
This Agreement shall inure to the benefit of and be binding upon the Company and the Agent and their respective successors and the affiliates,
controlling persons, officers and directors referred to in Section&nbsp;10 hereof. References to any of the parties contained in this
Agreement shall be deemed to include the successors and permitted assigns of such party. Nothing in this Agreement, express or implied,
is intended to confer upon any party other than the parties hereto or their respective successors and permitted assigns any rights, remedies,
obligations or liabilities under or by reason of this Agreement, except as expressly provided in this Agreement. Neither party may assign
its rights or obligations under this Agreement without the prior written consent of the other party; provided, however, that the Agent
may assign its rights and obligations hereunder to an affiliate thereof without obtaining the Company&rsquo;s consent.</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">15. <U>Adjustments for Stock
Splits</U>. The parties acknowledge and agree that all share-related numbers contained in this Agreement shall be adjusted to take into
account any stock split, stock dividend or similar event effected with respect to the Placement Shares.</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">16. <U>Entire Agreement; Amendment;
Severability</U>. This Agreement (including all schedules and exhibits attached hereto and Placement Notices issued pursuant hereto) constitutes
the entire agreement and supersedes all other prior and contemporaneous agreements and undertakings, both written and oral, among the
parties hereto with regard to the subject matter hereof. Neither this Agreement nor any term hereof may be amended except pursuant to
a written instrument executed by the Company and the Agent. In the event that any one or more of the provisions contained herein, or the
application thereof in any circumstance, is held invalid, illegal or unenforceable as written by a court of competent jurisdiction, then
such provision shall be given full force and effect to the fullest possible extent that it is valid, legal and enforceable, and the remainder
of the terms and provisions herein shall be construed as if such invalid, illegal or unenforceable term or provision was not contained
herein, but only to the extent that giving effect to such provision and the remainder of the terms and provisions hereof shall be in accordance
with the intent of the parties as reflected in this Agreement.</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">17. <B><U>GOVERNING LAW AND
TIME; WAIVER OF JURY TRIAL</U>. THIS AGREEMENT SHALL BE GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE STATE OF NEW YORK
WITHOUT REGARD TO THE PRINCIPLES OF CONFLICTS OF LAWS. SPECIFIED TIMES OF DAY REFER TO NEW YORK CITY TIME. THE COMPANY HEREBY IRREVOCABLY
WAIVES, TO THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW, ANY AND ALL RIGHT TO TRIAL BY JURY IN ANY LEGAL PROCEEDING ARISING OUT OF OR
RELATING TO THIS AGREEMENT OR THE TRANSACTIONS CONTEMPLATED HEREBY.</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: justify; text-indent: 0.5in">18. <B><U>CONSENT TO JURISDICTION</U>.
EACH PARTY HEREBY IRREVOCABLY SUBMITS TO THE NON-EXCLUSIVE JURISDICTION OF THE STATE AND FEDERAL COURTS SITTING IN THE CITY OF NEW YORK,
BOROUGH OF MANHATTAN, FOR THE ADJUDICATION OF ANY DISPUTE HEREUNDER OR IN CONNECTION WITH ANY TRANSACTION CONTEMPLATED HEREBY, AND HEREBY
IRREVOCABLY WAIVES, AND AGREES NOT TO ASSERT IN ANY SUIT, ACTION OR PROCEEDING, ANY CLAIM THAT IT IS NOT PERSONALLY SUBJECT TO THE JURISDICTION
OF ANY SUCH COURT, THAT SUCH SUIT, ACTION OR PROCEEDING IS BROUGHT IN AN INCONVENIENT FORUM OR THAT THE VENUE OF SUCH SUIT, ACTION OR
PROCEEDING IS IMPROPER. EACH PARTY HEREBY IRREVOCABLY WAIVES PERSONAL SERVICE OF PROCESS AND CONSENTS TO PROCESS BEING SERVED IN ANY SUCH
SUIT, ACTION OR PROCEEDING BY MAILING A COPY THEREOF (CERTIFIED OR REGISTERED MAIL, RETURN RECEIPT REQUESTED) TO SUCH PARTY AT THE ADDRESS
IN EFFECT FOR NOTICES TO IT UNDER THIS AGREEMENT AND AGREES THAT SUCH SERVICE SHALL CONSTITUTE GOOD AND SUFFICIENT SERVICE OF PROCESS
AND NOTICE THEREOF. NOTHING CONTAINED HEREIN SHALL BE DEEMED TO LIMIT IN ANY WAY ANY RIGHT TO SERVE PROCESS IN ANY MANNER PERMITTED BY
LAW.</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: 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">19. <U>Appointment of Agent
for Service</U>. The Company hereby irrevocably appoints Puglisi &amp; Associates as its agent for service of process in any suit, action
or proceeding described in Section 18 and agrees that service of process in any suit, action or proceeding may be made upon it at the
office of such agent. The Company waives, to the fullest extent permitted by law, any other requirements of or objections to personal
jurisdiction with respect thereto. The Company represents and warrants that such agent has agreed to act as the Company&rsquo;s agent
for service of process, and the Company agrees to take any and all action, including the filing of any and all documents and instruments,
that may be necessary to continue such appointment 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: 0.5in">20. <U>Use of Information</U>.
The Agent may not use any information gained in connection with this Agreement and the transactions contemplated by this Agreement, including
due diligence, to advise any party with respect to transactions not expressly approved by 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">21. <U>Counterparts</U>. This
Agreement may be executed in two or more counterparts, each of which shall be deemed an original, but all of which together shall constitute
one and the same instrument. Delivery of an executed Agreement by one party to the other may be made by facsimile transmission.</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">22. <U>Effect of Headings</U>.
The section and Exhibit&nbsp;headings herein are for convenience only and shall not affect the construction hereof.</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">23. <U>Permitted Free Writing
Prospectuses</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">The Company represents, warrants and agrees that,
unless it obtains the prior consent of the Agent, and the Agent represents, warrants and agrees that, unless it obtains the prior consent
of the Company, it has not made and will not make any offer relating to the Placement Shares that would constitute an Issuer Free Writing
Prospectus, or that would otherwise constitute a &ldquo;free writing prospectus,&rdquo; as defined in Rule&nbsp;405, required to be filed
with the Commission. Any such free writing prospectus consented to by the Agent or by the Company, as the case may be, is hereinafter
referred to as a &ldquo;Permitted Free Writing Prospectus.&rdquo; The Company represents and warrants that it has treated and agrees that
it will treat each Permitted Free Writing Prospectus as an &ldquo;issuer free writing prospectus,&rdquo; as defined in Rule&nbsp;433,
and has complied and will comply with the requirements of Rule&nbsp;433 applicable to any Permitted Free Writing Prospectus, including
timely filing with the Commission where required, legending and record keeping.</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">24. <U>Absence of Fiduciary
Relationship</U>.</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 acknowledges and
agrees that:</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">(a) The Agent is acting solely
as agent in connection with the public offering of the Placement Shares and in connection with each transaction contemplated by this Agreement
and the process leading to such transactions, and no fiduciary or advisory relationship between the Company or any of its respective affiliates,
stockholders (or other equity holders), creditors or employees or any other party, on the one hand, and the Agent, on the other hand,
has been or will be created in respect of any of the transactions contemplated by this Agreement, irrespective of whether or not the Agent
has advised or is advising the Company on other matters, and the Agent has no obligation to the Company with respect to the transactions
contemplated by this Agreement except the obligations expressly set forth in this Agreement;</P>

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

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">(c) the Agent has not provided
any legal, accounting, regulatory or tax advice with respect to the transactions contemplated by this Agreement and it has consulted its
own legal, accounting, regulatory and tax advisors to the extent it has deemed appropriate;</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">(d) it is aware that the Agent
and its affiliates are engaged in a broad range of transactions which may involve interests that differ from those of the Company and
the Agent has no obligation to disclose such interests and transactions to the Company by virtue of any fiduciary, advisory or agency
relationship or otherwise; and</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">(e) it waives, to the fullest
extent permitted by law, any claims it may have against the Agent for breach of fiduciary duty or alleged breach of fiduciary duty in
connection with the sale of Placement Shares under this Agreement and agrees that the Agent shall not have any liability (whether direct
or indirect, in contract, tort or otherwise) to it in respect of such a fiduciary duty claim or to any person asserting a fiduciary duty
claim on its behalf or in right of it or the Company, employees or creditors of Company, other than in respect of the Agent&rsquo;s obligations
under this Agreement and to keep information provided by the Company to the Agent and the Agent&rsquo;s counsel confidential to the extent
not otherwise publicly-available.</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">25. <U>Definitions</U>.</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">As used in this Agreement,
the following terms have the respective meanings set forth below:</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">&ldquo;<U>Applicable Time</U>&rdquo;
means (i)&nbsp;each Representation Date, (ii)&nbsp;the time of each sale of any Placement Shares pursuant to this Agreement, and (iii)&nbsp;each
Settlement Date.</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">&ldquo;<U>Business Day</U>&rdquo;
shall mean any day on which the Exchange and commercial banks in the City of New York are open for business.</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">&ldquo;<U>Issuer Free Writing
Prospectus</U>&rdquo; means any &ldquo;issuer free writing prospectus,&rdquo; as defined in Rule&nbsp;433, relating to the Placement Shares
that (1)&nbsp;is required to be filed with the Commission by the Company, (2)&nbsp;is a &ldquo;road show&rdquo; that is a &ldquo;written
communication&rdquo; within the meaning of Rule&nbsp;433(d)(8)(i) whether or not required to be filed with the Commission, or (3)&nbsp;is
exempt from filing pursuant to Rule&nbsp;433(d)(5)(i) because it contains a description of the Placement Shares or of the offering that
does not reflect the final terms, in each case 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) under the Securities Act.</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">&ldquo;<U>Rule 172</U>,&rdquo;
&ldquo;<U>Rule 405</U>,&rdquo; &ldquo;<U>Rule 415</U>,&rdquo; &ldquo;<U>Rule 424</U>,&rdquo; &ldquo;<U>Rule&nbsp;424(b)</U>,&rdquo; &ldquo;<U>Rule&nbsp;430B</U>,&rdquo;
and &ldquo;<U>Rule&nbsp;433</U>&rdquo; refer to such rules under the Securities Act.</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">&ldquo;<U>Trading Day</U>&rdquo;
means any day on which Ordinary Shares are purchased and sold on the Exchange.</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">All references in this Agreement
to financial statements and schedules and other information that is &ldquo;contained,&rdquo; &ldquo;included&rdquo; or &ldquo;stated&rdquo;
in the Registration Statement or the Prospectus (and all other references of like import) shall be deemed to mean and include all such
financial statements and schedules and other information that is incorporated by reference in the Registration Statement or the Prospectus,
as the case may be.</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">All references in this Agreement
to the Registration Statement, the Prospectus or any amendment or supplement to any of the foregoing shall be deemed to include the copy
filed with the Commission pursuant to EDGAR; all references in this Agreement to any Issuer Free Writing Prospectus (other than any Issuer
Free Writing Prospectuses that, pursuant to Rule&nbsp;433, are not required to be filed with the Commission) shall be deemed to include
the copy thereof filed with the Commission pursuant to EDGAR; and all references in this Agreement to &ldquo;supplements&rdquo; to the
Prospectus shall include, without limitation, any supplements, &ldquo;wrappers&rdquo; or similar materials prepared in connection with
any offering, sale or private placement of any Placement Shares by the Agent outside of the United States.</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">If the foregoing correctly
sets forth the understanding between the Company and the Agent, please so indicate in the space provided below for that purpose, whereupon
this letter shall constitute a binding agreement between the Company and the Agent.</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>&nbsp;</TD>
    <TD COLSPAN="2">Very truly yours,</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>INSPIRA TECHNOLOGIES OXY B.H.N. LTD.</B></FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 60%">&nbsp;</TD>
    <TD STYLE="width: 5%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">By:</FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; width: 35%">/s/ Yafit Tehila</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Name:&nbsp;</FONT></TD>
    <TD>Yafit Tehila</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Title:</FONT></TD>
    <TD>Chief Financial Officer</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">ACCEPTED as of the date first-above written:</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>ROTH CAPITAL PARTNERS, LLC</B></FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">By:</FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid">/s/ Benjamin Bowen</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Name:</FONT></TD>
    <TD>Benjamin Bowen</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Title:</FONT></TD>
    <TD>Managing Director</TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

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

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    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

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

<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; text-align: center"></P>

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

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

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 12%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">From:</FONT></TD>
    <TD STYLE="width: 88%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">INSPIRA TECHNOLOGIES OXY B.H.N. LTD.</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">To:</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">ROTH CAPITAL PARTNERS, LLC</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Attention:</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">[&#9679;]</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Subject:</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Placement Notice</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Date:</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">[&#9679;]</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Gentlemen:</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">Pursuant to the terms and
subject to the conditions contained in the Sales Agreement between, Inspira Technologies Oxy B.H.N. Ltd. (the &ldquo;Company&rdquo;) and
Roth Capital Partners, LLC (&ldquo;Agent&rdquo;), dated April 4, 2023, the Company hereby requests that the Agent sell up to ____________
of the Company&rsquo;s Ordinary Shares, no par value per share, at a minimum market price of $_______ per share, during the time period
beginning [month, day, time] and ending [month, day, time].</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"></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>SCHEDULE 2</B></P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The Company shall pay to the Agent in cash, upon
each sale of Placement Shares pursuant to this Agreement, an amount equal to 3.0% of the gross proceeds from each sale of Placement Shares.</P>

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

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>SCHEDULE 3</B></P>

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

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

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

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

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

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

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

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

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 20%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Dagi Ben-Noon</FONT></TD>
    <TD STYLE="width: 80%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">dagi@inspirao2.com</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Joe Hayon</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">joe@inspirao2.com</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Yafit Tehila</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">yafit@inspirao2.com</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

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

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 20%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Eric Cheng</FONT></TD>
    <TD STYLE="width: 80%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">echeng@roth.com</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Lou Ellis</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">LEllis@roth.com</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Nazan Akdeniz</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">NAkdeniz@roth.com</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">With a copy to RothECM@roth.com</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>EXHIBIT 7(m)</B></P>

<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; text-align: center"><B>Form of Representation Date Certificate</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>____________________, 20__</B></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: 0.5in">This Representation Date Certificate
(this &ldquo;Certificate&rdquo;) is executed and delivered in connection with Section 7(l) of the Sales Agreement (the &ldquo;Agreement&rdquo;),
dated April 4, 2023, and entered into between Inspira Technologies Oxy B.H.N. Ltd. (the &ldquo;Company&rdquo;) and Roth Capital Partners,
LLC. All capitalized terms used but not defined herein shall have the meanings given to such terms in the 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; text-indent: 0.5in">The undersigned, a duly appointed
and authorized officer of the Company, having made all necessary inquiries to establish the accuracy of the statements below and having
been authorized by the Company to execute this certificate, hereby certifies as follows:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.25in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in; text-align: left">1.</TD><TD STYLE="text-align: justify">As of the date of this Certificate, (i) the Registration
Statement does not contain any untrue statement of a material fact or omit to state a material fact required to be stated therein or
necessary in order to make the statements therein not misleading and (ii) neither the Registration Statement nor the Prospectus contain
any untrue statement of a material fact or omit to state a material fact required to be stated therein or necessary in order to make
the statements therein, in light of the circumstances under which they were made, not misleading and (iii) no event has occurred as a
result of which it is necessary to amend or supplement the Prospectus in order to make the statements therein not untrue or misleading.</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.25in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in; text-align: left">2.</TD><TD STYLE="text-align: justify">Each of the representations and warranties of the Company
contained in the Agreement were, when originally made, and are, as of the date of this Certificate, true and correct in all material
respects.</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.25in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in; text-align: left">3.</TD><TD STYLE="text-align: justify">Each of the covenants required to be performed by the Company
in the Agreement on or prior to the date of the Agreement, this Representation Date, and each such other date as set forth in the Agreement,
has been duly, timely and fully performed in all material respects and each condition required to be complied with by the Company on
or prior to the date of the Agreement, this Representation Date, and each such other date as set forth in the Agreement or in the Waivers
has been duly, timely and fully complied with in all material respects.</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.25in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in; text-align: left">4.</TD><TD STYLE="text-align: justify">Subsequent to the date of the most recent financial statements
in the Prospectus, there has been no Material Adverse Effect.</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.25in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in; text-align: left">5.</TD><TD STYLE="text-align: justify">No stop order suspending the effectiveness of the Registration
Statement or of any part thereof has been issued, and no proceedings for that purpose have been instituted or are pending or threatened
by any securities or other governmental authority (including, without limitation, the Commission).</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">The undersigned has executed
this Representation Date Certificate as of the date first written above.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 3in">&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>&nbsp;</TD>
    <TD COLSPAN="2"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>INSPIRA TECHNOLOGIES OXY B.H.N. LTD.</B></FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 60%">&nbsp;</TD>
    <TD STYLE="width: 5%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">By:</FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; width: 35%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Name:</FONT>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Title:</FONT></TD>
    <TD>&nbsp;</TD></TR>
  </TABLE>
<P STYLE="text-align: center; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</P>

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

<P STYLE="text-align: center; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">40</FONT></P>

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

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</DOCUMENT>
<DOCUMENT>
<TYPE>EX-5.1
<SEQUENCE>3
<FILENAME>ea176407ex5-1_inspiratech.htm
<DESCRIPTION>OPINION OF SULLIVAN & WORCESTER TEL-AVIV (HAR-EVEN & CO.)
<TEXT>
<HTML>
<HEAD>
     <TITLE></TITLE>
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<BODY STYLE="font: 10pt Times New Roman, Times, Serif">

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

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 42%; font-size: 10pt"><IMG SRC="ex5-1_001.jpg" ALT=""></TD>
    <TD STYLE="width: 32%">
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B></B></P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Sullivan &amp; Worcester Tel Aviv</B></P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">28 HaArba&rsquo;a St. HaArba&rsquo;a <BR>
Towers North Tower, 35th Floor</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 3pt">&nbsp;</FONT></P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Tel-Aviv, Israel&nbsp;</P></TD>
    <TD STYLE="width: 14%; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="width: 12%">
    <P STYLE="text-align: left; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin: 0pt 0">+972-747580480</P>
    <P STYLE="text-align: left; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">sullivanlaw.com</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P></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: right">April 4, 2023</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: 100%; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">To:</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Inspira Technologies Oxy B.H.N. Ltd.</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">2 Ha-Tidhar St.,</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Ra&rsquo;anana, 4366504, Israel</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">Re: <U>Registration Statement on Form F-3</U></P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">We have acted as Israeli counsel
to Inspira Technologies Oxy B.H.N. Ltd., a company organized under the laws of the State of Israel (the &ldquo;<B>Company</B>&rdquo;),
in connection with its registration statement on Form F-3 (the &ldquo;<B>Registration Statement</B>&rdquo;), the prospectus included therein
and the related prospectus supplement (such prospectus, as supplemented by such prospectus supplement, the &ldquo;<B>Prospectus Supplement</B>&rdquo;)
filed or to be filed with the Securities and Exchange Commission (the &ldquo;<B>SEC</B>&rdquo;) under the Securities Act of 1933, as amended
(the &ldquo;<B>Securities Act</B>&rdquo;) with respect to the sale of up to $5,480,000 ordinary shares (the &ldquo;<B>ATM Shares</B>&rdquo;)
of the Company, no par value (the &ldquo;<B>Ordinary Shares</B>&rdquo;) from time to time pursuant to a sales agreement, dated as of April
4, 2023 (the &ldquo;<B>Sales Agreement</B>&rdquo;), entered into by and between the Company and Roth Capital Partners, LLC.</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 have also acted as Israeli
counsel to the Company in connection with the Sales Agreement.</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">In connection herewith, we
have examined the originals, or photocopies or copies, certified or otherwise identified to our satisfaction, of: (i) the Registration
Statement; (ii) the Prospectus Supplement; (iii) the amended articles of association of the Company, as currently in effect (the &ldquo;<B>Articles</B>&rdquo;);
(iv) minutes of meetings of the board of directors of the Company (the &ldquo;<B>Board</B>&rdquo;) at which the filing of the Registration
Statement and the actions to be taken in connection therewith, as well as the execution of the Sales Agreement and the actions to be taken
in connection therewith, were approved; and (v) such other corporate records, agreements, documents and other instruments, and such certificates
or comparable documents of public officials and of officers and representatives of the Company as we have deemed relevant and necessary
as a basis for the opinions hereafter set forth. We have also made inquiries of such officers and representatives as we have deemed relevant
and necessary as a basis for the opinions hereafter set forth.</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">In such examination, we have
assumed the genuineness of all signatures, the legal capacity of all natural persons, the authenticity of all documents submitted to us
as originals, the conformity to original documents of all documents submitted to us as certified, confirmed as photostatic copies and
the authenticity of the originals of such latter documents. We have also assumed the truth of all facts communicated to us by the Company
and that all minutes of meetings of the Board and the shareholders of the Company that have been provided to us are true and accurate
and have been properly prepared in accordance with the Articles and all applicable laws.</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 and subject to
the foregoing, we are of the opinion that with respect to the ATM Shares, assuming that prior to the issuance of any of the ATM Shares
under the Sales Agreement, the price, number of ATM Shares and certain other terms of issuance with respect to any specific placement
notice delivered under the Sales Agreement will be authorized and approved by the Board or a pricing committee of the Board in compliance
with applicable Israeli law (for purposes of this paragraph, the &ldquo;<B>Authorizing Resolutions</B>&rdquo;), all corporate proceedings
necessary for the authorization, issuance and delivery of the ATM Shares shall have been taken and, upon issuance pursuant to the terms
of the Sales Agreement and in accordance with resolutions of the Board related to the offering of the ATM Shares, the ATM Shares will
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">With respect to our opinion
as to the ATM Shares, we have assumed that, at the time of issuance and sale and to the extent any such issuance would exceed the maximum
share capital of the Company currently authorized, the number of Ordinary Shares that the Company is authorized to issue shall have been
increased in accordance with the Company&rsquo;s Articles such that a sufficient number of Ordinary Shares are authorized and available
for issuance under the Articles.</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">Members of our firm are admitted
to the Bar in the State of Israel, and we do not express any opinion as to the laws of any other jurisdiction. This opinion is limited
to the matters stated herein and no opinion is implied or may be inferred beyond the matters expressly stated.</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 on a Form 6-K of the Company being filed on the date hereof and to the reference to our firm appearing under
the caption &ldquo;Legal Matters&rdquo; and, if applicable, &ldquo;Enforcement of Civil Liabilities&rdquo; in the prospectus forming part
of the Registration Statement. In giving this consent, we do not thereby admit that we are within the category of persons whose consent
is required under Section 7 of the Securities Act, the rules and regulations of the SEC promulgated thereunder or Item 509 of the SEC&rsquo;s
Regulation S-K under the Securities Act.</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 letter is rendered
as of the date hereof and we disclaim any obligation to advise you of facts, circumstances, events or developments that may be brought
to our attention after the effective date of this opinion that may alter, affect or modify the opinions expressed herein.</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">Very truly yours,</P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top; text-align: left">
  <TD STYLE="border-bottom: Black 1.5pt solid; width: 40%">/s/ Sullivan &amp; Worcester
Tel-Aviv (Har-Even &amp; Co.)</TD>
  <TD STYLE="padding-bottom: 1.5pt; width: 60%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; text-align: left">
  <TD>Sullivan&amp; Worcester Tel-Aviv (Har-Even &amp; Co.)</TD>
  <TD>&nbsp;</TD></TR>
</TABLE>

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

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

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

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