<SEC-DOCUMENT>0001104659-21-037294.txt : 20210317
<SEC-HEADER>0001104659-21-037294.hdr.sgml : 20210317
<ACCEPTANCE-DATETIME>20210316185147
ACCESSION NUMBER:		0001104659-21-037294
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		11
CONFORMED PERIOD OF REPORT:	20210315
ITEM INFORMATION:		Entry into a Material Definitive Agreement
ITEM INFORMATION:		Completion of Acquisition or Disposition of Assets
ITEM INFORMATION:		Unregistered Sales of Equity Securities
ITEM INFORMATION:		Material Modifications to Rights of Security Holders
ITEM INFORMATION:		Changes in Control of Registrant
ITEM INFORMATION:		Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers: Compensatory Arrangements of Certain Officers
ITEM INFORMATION:		Amendments to Articles of Incorporation or Bylaws; Change in Fiscal Year
ITEM INFORMATION:		Submission of Matters to a Vote of Security Holders
ITEM INFORMATION:		Financial Statements and Exhibits
FILED AS OF DATE:		20210317
DATE AS OF CHANGE:		20210316

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			Anchiano Therapeutics Ltd.
		CENTRAL INDEX KEY:			0001534248
		STANDARD INDUSTRIAL CLASSIFICATION:	PHARMACEUTICAL PREPARATIONS [2834]
		IRS NUMBER:				000000000
		STATE OF INCORPORATION:			L3
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		8-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-38807
		FILM NUMBER:		21747645

	BUSINESS ADDRESS:	
		STREET 1:		5 KIRYAT HAMADA ST
		STREET 2:		PO BOX 45032
		CITY:			JERUSALEM
		STATE:			L3
		ZIP:			9777401
		BUSINESS PHONE:		972-2-5486555

	MAIL ADDRESS:	
		STREET 1:		5 KIRYAT HAMADA ST
		STREET 2:		PO BOX 45032
		CITY:			JERUSALEM
		STATE:			L3
		ZIP:			9777401

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	BioCancell Ltd.
		DATE OF NAME CHANGE:	20111104
</SEC-HEADER>
<DOCUMENT>
<TYPE>8-K
<SEQUENCE>1
<FILENAME>tm219877d1_8k.htm
<DESCRIPTION>FORM 8-K
<TEXT>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><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>UNITED STATES </B></P>

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

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

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

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

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



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

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

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

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



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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>of the Securities Exchange Act of 1934</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></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Date of Report (Date of earliest event
reported): March 15, 2021 </B></P>

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

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

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



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

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

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

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

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR>
    <TD STYLE="vertical-align: top; padding: 0.25pt; width: 35%">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>State of Israel</B></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>(State or Other Jurisdiction<BR>
        of Incorporation)</B></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"></P></TD>
    <TD STYLE="vertical-align: top; padding: 0.25pt; width: 30%">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>001-38807</B></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>(Commission<BR>
        File Number)</B></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"></P></TD>
    <TD STYLE="vertical-align: top; padding: 0.25pt; width: 35%">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>81-3676773</B></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>(IRS Employer</B></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Identification No.)</B></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"></P></TD></TR>
</TABLE>

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR>
    <TD STYLE="vertical-align: top; padding: 0.25pt; width: 50%">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Kiryat Atidim, Building 7</B></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Tel Aviv, Israel</B></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>(Address of principal executive
offices)</B></P></TD>
    <TD STYLE="vertical-align: bottom; padding: 0.25pt; width: 50%">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>6158002</B></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>(Zip Code)</B></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"></P></TD></TR>
</TABLE>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Registrant&#8217;s telephone number,
including area code: +972-77-331-0156</B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">One Kendall Square, Building 1400E, Suite
14-105</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">Cambridge, MA 02139</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>(Former name or former address, if changed
since last report) </B></P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Check the appropriate box below if the Form 8-K filing
is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:</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: 4%; padding: 0.25pt; font-size: 10pt"><FONT STYLE="font-family: Wingdings">&#168;</FONT></TD>
    <TD STYLE="padding: 0.25pt; font-size: 10pt"><FONT STYLE="font-size: 10pt">Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) </FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

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<TR STYLE="vertical-align: top">
    <TD STYLE="width: 4%; padding: 0.25pt; font-size: 10pt"><FONT STYLE="font-family: Wingdings">&#168;</FONT></TD>
    <TD STYLE="padding: 0.25pt; font-size: 10pt"><FONT STYLE="font-size: 10pt">Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

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<TR STYLE="vertical-align: top">
    <TD STYLE="width: 4%; padding: 0.25pt; font-size: 10pt"><FONT STYLE="font-family: Wingdings">&#168;</FONT></TD>
    <TD STYLE="padding: 0.25pt; font-size: 10pt"><FONT STYLE="font-size: 10pt">Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))</FONT></TD></TR>
</TABLE>
<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: 4%; padding: 0.25pt; font-size: 10pt"><FONT STYLE="font-family: Wingdings">&#168;</FONT></TD>
    <TD STYLE="padding: 0.25pt; font-size: 10pt"><FONT STYLE="font-size: 10pt">Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>Securities registered pursuant to Section&nbsp;12(b)
of the Act: </B></P>

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: black 1pt solid; white-space: nowrap; padding: 0.25pt 0.25pt 1pt; font-size: 10pt; text-align: center; width: 40%"><FONT STYLE="font-size: 10pt"><B>Title of each class</B></FONT></TD>
    <TD STYLE="text-align: center; padding: 0.25pt; font-size: 10pt; width: 1%">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; padding: 0.25pt 0.25pt 1pt; font-size: 10pt; text-align: center; width: 18%"><FONT STYLE="font-size: 10pt"><B>Trading<BR>
Symbol(s)</B></FONT></TD>
    <TD STYLE="text-align: center; padding: 0.25pt; font-size: 10pt; width: 1%">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; padding: 0.25pt 0.25pt 1pt; font-size: 10pt; text-align: center; width: 40%"><FONT STYLE="font-size: 10pt"><B>Name
    of each exchange on&nbsp;which&nbsp;registered</B></FONT></TD></TR>
<TR>
    <TD STYLE="padding: 0.25pt; vertical-align: top; font-size: 10pt; text-align: center"><FONT STYLE="font-size: 10pt"><B>American Depositary Shares, each representing five ordinary shares, no par value per share</B></FONT></TD>
    <TD STYLE="text-align: center; vertical-align: bottom; padding: 0.25pt; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="padding: 0.25pt; vertical-align: top; font-size: 10pt; text-align: center"><FONT STYLE="font-size: 10pt"><B>CMMB</B></FONT></TD>
    <TD STYLE="text-align: center; vertical-align: bottom; padding: 0.25pt; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="padding: 0.25pt; vertical-align: top; font-size: 10pt; text-align: center"><FONT STYLE="font-size: 10pt"><B>Nasdaq Capital Market</B></FONT></TD></TR>
<TR>
    <TD STYLE="padding: 0.25pt; vertical-align: top; font-size: 10pt; text-align: center"><FONT STYLE="font-size: 10pt"><B>Ordinary shares, no par value per share</B></FONT></TD>
    <TD STYLE="text-align: center; vertical-align: bottom; padding: 0.25pt; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="padding: 0.25pt; vertical-align: top; font-size: 10pt; text-align: center"><FONT STYLE="font-size: 10pt"><B>N/A</B></FONT></TD>
    <TD STYLE="text-align: center; vertical-align: bottom; padding: 0.25pt; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="padding: 0.25pt; vertical-align: top; font-size: 10pt; text-align: center"><FONT STYLE="font-size: 10pt"><B>Nasdaq Capital Market*</B></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">* Not for trading; only in connection with the registration
of American Depositary 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">Indicate by check mark whether the registrant is an
emerging growth company as defined in Rule 405 of the Securities Act of 1933 (&sect;&nbsp;230.405 of this chapter) o rRule
12b-2 of the Securities Exchange Act of 1934 (&sect;&nbsp;240.12b-2 of this chapter).</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">Emerging growth company&nbsp;&nbsp;<FONT STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Wingdings">&#120;</FONT></FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">If an emerging growth company, indicate by check mark if the
registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards
provided pursuant to Section&nbsp;13(a) of the Exchange Act.&nbsp;&nbsp;<FONT STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Wingdings">&#168;</FONT></FONT></P>

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



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

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

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Explanatory Note </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">On March 16, 2021, pursuant to the Agreement and Plan of Merger
(the &#8220;Merger Agreement&#8221;), dated as of December 14, 2020, by and among Anchiano Therapeutics Ltd. (&#8220;Anchiano&#8221;),
CMB Acquisition Ltd., an Israeli limited company and wholly-owned subsidiary of Anchiano (&#8220;Merger Sub&#8221;), and Chemomab
Ltd., an Israeli limited company (&#8220;Chemomab&#8221;), Anchiano completed the previously announced merger transaction, pursuant
to which Merger&nbsp;Sub merged with and into Chemomab, with Chemomab surviving such merger as a wholly owned subsidiary of Anchiano
(the &#8220;Merger&#8221;). <FONT STYLE="background-color: white">In connection with the Merger, on March 16, 2021, Anchiano changed
its name to </FONT>Chemomab Therapeutics Ltd. (the &#8220;Company&#8221;). In connection with the Merger, on March 15, 2021, Anchiano
entered into Securities Purchase Agreements (the &#8220;Purchase Agreements&#8221;) with certain purchasers for the offering and
sale by Anchiano in a private placement (the &#8220;Private Placement&#8221;) of approximately $45.5 million of its American Depositary
Shares. The closing of the Private Placement was completed on March 16, 2021.</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: 0.75in; padding: 0.25pt; font-size: 10pt"><FONT STYLE="font-size: 10pt"><B>Item&nbsp;1.01</B></FONT></TD>
    <TD STYLE="padding: 0.25pt; font-size: 10pt"><FONT STYLE="font-size: 10pt"><B>Entry into a Material Definitive Agreement. </B></FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><I>&nbsp;</I></P>

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">On March 15, 2021, the Company entered into Purchase
Agreements, pursuant to which it agreed to sell and issue approximately $45.5. million of its ADSs in the Private Placement.
At the closing of the Private Placement, the Company sold and issued to the purchasers 41,915,433 ADSs <FONT STYLE="background-color: white">and
4,191,543 accompanying warrants at a purchase price of $1.08443 (pre-reverse split that took effect immediately prior to the
closing of the Merger)</FONT>. <FONT STYLE="background-color: white">The warrants have an exercise price of $1.08443 (pre-reverse split that took effect immediately prior to the closing of the Merger), will
expire five years from the date of issuance, and if exercised in full will generate additional proceeds to the Company of
approximately $4.5 million. </FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">The Private Placement is exempt from the registration requirements
of the Securities Act of 1933, as amended (the &#8220;Securities Act&#8221;), pursuant to the exemption for transactions by an
issuer not involving any public offering under Section 4(a)(2) of the Securities Act and/or Rule 506 of Regulation D of the Securities
Act and in reliance on similar exemptions under applicable state laws. Each of the Purchasers represented that it is an accredited
investor within the meaning of Rule 501 of Regulation D and is acquiring the securities for its own account for investment and
not with a view towards distribution. The Purchase Agreements provide the purchasers with certain registration rights that require
the Company to file a Registration Statement with the Securities and Exchange Commission (the &#8220;SEC&#8221;) within 30 days
after the closing of the Private Placement for the purposes of registering the resale of the shares issued in the Private Placement.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">The preceding summary does not purport to be complete and are
qualified in their entirety by reference to the form Purchase Agreement, the Warrant to Purchase American Depositary Shares and the
Anti-Dilution Warrant, which are filed as Exhibits 10.1, 10.2 and 10.3, respectively, to this Current Report on Form 8-K, and which
are incorporated herein by reference.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">The Purchase Agreement filed as an Exhibit to this Form 8-K
has been included to provide investors and shareholders with information regarding its terms. It is not intended to provide any
other factual information about the Company or the parties thereto. The Purchase Agreement contains representations and warranties
that the parties thereto made to, and solely for the benefit of, each other. The assertions embodied in such representations and
warranties are qualified by information contained in the confidential disclosure schedules that each may have  delivered to
the other party in connection with signing the Purchase Agreement. Accordingly, investors and shareholders should not rely on such
representations and warranties as characterizations of the actual state of facts or circumstances, since they were only made as
of the date of the Purchase Agreement and are modified in important part by the underlying disclosure schedules. Moreover, information
concerning the subject matter of such representations and warranties may change after the date of the Purchase Agreement, which
subsequent information may or may not be fully reflected in Anchiano&#8217;s public disclosures.</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">To the extent required by Item 1.01 of Form 8-K, the information
contained in Item 2.01 of this Current Report on Form 8-K is incorporated herein by reference.</P>

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

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

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

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

<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: 0.75in; padding: 0.25pt; font-size: 10pt"><FONT STYLE="font-size: 10pt"><B>Item&nbsp;2.01</B></FONT></TD>
    <TD STYLE="padding: 0.25pt; font-size: 10pt"><FONT STYLE="font-size: 10pt"><B>Completion of Acquisition or Disposition of Assets </B></FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><I>&nbsp;</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><I>Completion of the Merger</I></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; background-color: white">On March 16, 2021, Anchiano
completed the Merger pursuant to the Merger Agreement. In connection with the Merger, and following the effective time of the
Merger (the &#8220;Effective Time&#8221;), the Company effected a reverse share split of the Company&#8217;s ordinary shares
at a ratio of 4:1 (the &#8220;Reverse Split&#8221;) and increased the number of ordinary shares per ADS from 5 to 20.
Following the Reverse Split and closing of the Merger there are approximately 10,697,975 issued and outstanding ADSs of the
Company outstanding, with pre-merger Chemomab shareholders owning approximately 90% and pre-merger Anchiano shareholders
owning approximately 10% of the Company.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; background-color: white">Also, in connection with the Merger,
the Company changed its name from &#8220;Anchiano Therapeutics Ltd.&#8221; to &#8220;Chemomab Therapeutics Ltd.&#8221; (the &#8220;Name
Change&#8221;) and the business conducted by Chemomab became primarily the business conducted by the Company, which is a clinical-stage
biotech company discovering and developing innovative therapeutics for conditions with high unmet medical need that involve inflammation
and fibrosis.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">At the Effective Time, each Chemomab ordinary share
outstanding immediately prior to the Effective Time (excluding certain Chemomab ordinary shares that were cancelled pursuant
to the Merger Agreement) automatically converted into the right to receive, post-reverse split,12.86235 Anchiano ADSs, each
representing 20 ordinary shares, plus a warrant that may be exercisable under certain circumstances to purchase ADSs. The
exchange ratio was calculated using a formula intended to allocate a percentage of the post-Merger Company to former Chemomab
securityholders. Specifically, the exchange ratio was calculated based on a $135.0 million valuation for Chemomab and a $15.0
million valuation for Anchiano (without giving effect to the Reverse Split). In addition, at the Effective Time, Anchiano
assumed all outstanding unexercised Chemomab options to purchase Chemomab ordinary shares and each such Chemomab option
converted into an option to purchase ordinary shares of the Company (including ordinary shares represented by ADSs), with the
number of ordinary shares of the Company subject to such option and the exercise price being appropriately adjusted to
reflect the exchange ratio.</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">Anchiano&#8217;s ADSs, trading on the Nasdaq Capital Market
through the close of business on March 16, 2021 under the ticker symbol &#8220;ANCN,&#8221; will commence trading on the Nasdaq
Capital Market, on a post-Reverse Split adjusted basis, under the ticker symbol &#8220;CMMB,&#8221; on March 17, 2021, as of which
time the Company&#8217;s ADS will be represented by a new CUSIP number, 16385C104.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">The issuance of the shares of the Company to the former Chemomab
securityholders was registered with the SEC on a Registration Statement on Form S-4 (File No. 333-252070) (as amended, the &#8220;Form
S-4&#8221;). The issuance of the shares of the Company to holders of options issued, or to be issued, under the Chemomab Ltd. 2015
Share Incentive Plan will be registered with the SEC on a Registration Statement on Form S-8.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">The foregoing description of the Merger Agreement contained
herein does not purport to be complete and is qualified in its entirety by reference to the full text of the Merger Agreement that
was filed as Exhibit 2.1 to the Company&#8217;s Current Report on Form 8-K filed with the SEC on December 15, 2020 and is incorporated
herein by reference.</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"><I>Sale of the ADT License</I></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Pursuant to an Asset Purchase and Assignment Agreement dated
as of March 16, 2021, between the Company and Kestrel Therapeutics, Inc., a company organized under the laws of Delaware (&#8220;Kestrel&#8221;),
which is filed as Exhibit 10.4 hereto, Anchiano Therapeutics, Inc., a company organized under the laws of Delaware and a wholly-owned subsidiary of the Company, has sold to Kestrel all of the Company&#8217;s rights and obligations in its
business to the extent related to the research, development and commercialization of the Compounds and Products (as such terms
are defined in the Collaboration and License Agreement entered into as of September 13, 2019, by and between ADT Pharmaceuticals,
LLC and the Company), also known as the pan-RAS and PDE10/&#946;-catenin programs. Kestrel is obligated to pay the Company $1 million
for the sale and transfer of the Compounds and Products, which is expected to close on March 31, 2021.</P>

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

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

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

<TABLE 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: 0.75in; padding: 0.25pt; font-size: 10pt"><FONT STYLE="font-size: 10pt"><B>Item&nbsp;3.02.</B></FONT></TD>
    <TD STYLE="padding: 0.25pt">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Unregistered Sales of Equity Securities. </B></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B></B></P></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">To the extent required by Item 3.02 of Form 8-K, the information
contained in Item 1.01 of this Current Report on Form 8-K is incorporated herein by reference.</P>

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

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 0.75in; padding: 0.25pt; font-size: 10pt"><FONT STYLE="font-size: 10pt"><B>Item&nbsp;3.03</B></FONT></TD>
    <TD STYLE="padding: 0.25pt; font-size: 10pt"><FONT STYLE="font-size: 10pt"><B>Material Modification to Rights of Security Holders </B></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">To the extent required by Item 3.03 of Form 8-K, the information
contained in Item 2.01 of this Current Report on Form 8-K is incorporated herein by reference.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">As disclosed below under Item 5.07 of this Current Report on
Form 8-K, at the special meeting of Anchiano&#8217;s shareholders held on March 15, 2021 (the &#8220;Special Meeting&#8221;),
the shareholders of Anchiano approved an amendment and restatement of its articles of association (the &#8220;Amended and Restated
Articles of Association&#8221;) to (i) increase the registered share capital of Anchiano from 500,000,000 ordinary shares, without
par value, to 650,000,000 ordinary shares, without par value, (ii) effect the Reverse Split, (iii) amend the manner in which directors
are elected to a classified board format, (iv) effect the Name Change and (v) make such other changes as are set forth in the
Amended and Restated Articles of Association.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">As a result of the Reverse Split, the number of issued and outstanding ordinary shares
of the Company immediately prior to the Reverse Split was reduced to a smaller number of shares, such that every four ordinary
shares of the Company held by a shareholder immediately prior to the Reverse Split were combined and reclassified into one share
of the Company.</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">No fractional new ADSs were issued in the Reverse Split. Instead,
The Bank of New York Mellon, the Company&#8217;s depositary in the United States, Depository Trust Company or the relevant securities
intermediary would aggregate and sell the fractional entitlement ADSs and deliver net proceeds of the sale to the ADS holders in
lieu of their fractional entitlements.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">The foregoing description of the Amended and Restated Articles
of Association is not complete and is subject to and qualified in its entirety by reference to the Amended and Restated Articles
of Association, which are filed as Exhibit 3.1 to this Current Report on Form 8-K, and which is incorporated herein by reference.</P>

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 0.75in; padding: 0.25pt; font-size: 10pt"><FONT STYLE="font-size: 10pt"><B>Item&nbsp;5.01</B></FONT></TD>
    <TD STYLE="padding: 0.25pt; font-size: 10pt"><FONT STYLE="font-size: 10pt"><B>Changes in Control of Registrant </B></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">The information required by this Item 5.01 is contained in Item
2.01 and is incorporated by reference herein.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">The information set forth in Item 5.02 of this Current Report
on Form 8-K regarding the Company&#8217;s board of directors (the &#8220;Board&#8221;) and principal officers following the Merger
are incorporated by reference into this Item 5.01.</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: 0.75in; padding: 0.25pt; font-size: 10pt"><FONT STYLE="font-size: 10pt"><B>Item&nbsp;5.02</B></FONT></TD>
    <TD STYLE="padding: 0.25pt; font-size: 10pt"><FONT STYLE="font-size: 10pt"><B>Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers </B></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"><I>Resignation of Directors </I></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">In accordance with the Merger Agreement, Stanislav
Polovets, Ruth Alon and Isaac Kohlberg resigned from the Board and any respective committees of the Board of which they were
members. The resignations were not the result of any disagreements with Anchiano relating to its operations, policies or
practices.</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"><I>Appointment of Directors </I></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">In accordance with the Merger Agreement, on March 16, 2021,
effective at the Effective Time, the following individuals were appointed to the Board as directors in the classes set forth below:
Stephen Squinto, Ph.D., Adi Mor, Ph.D., Nissim Darvish, M.D., Ph.D, Joel Maryles, Alan Moses, MD, FACP and Claude Nicaise, MD.
Neil Cohen, who was a director of Anchiano, continues to serve as a director of the Company.</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">Other than pursuant to the Merger Agreement, there were no arrangements
or understandings between the Company&#8217;s newly appointed directors and any person pursuant to which they were elected. None
of the Company&#8217;s newly appointed directors has a direct or indirect material interest in any transaction required to be disclosed
pursuant to Item 404(a) of Regulation S-K.</P>

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

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

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Following the Merger, the classes of the Board are as follows:</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>
    <TD STYLE="width: 0.25in; padding: 0.25pt; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="vertical-align: top; width: 0.25in; padding: 0.25pt; font-size: 10pt"><FONT STYLE="font-size: 10pt">&#8226;</FONT></TD>
    <TD STYLE="vertical-align: top; padding: 0.25pt; font-size: 10pt"><FONT STYLE="font-size: 10pt"><B>Class&nbsp;I Directors, whose terms expire at the Company&#8217;s 2022 Annual Meeting: </B>Stephen Squinto, Nissim Darvish and Joel Maryles. </FONT></TD></TR>
</TABLE>
<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>
    <TD STYLE="width: 0.25in; padding: 0.25pt; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="vertical-align: top; width: 0.25in; padding: 0.25pt; font-size: 10pt"><FONT STYLE="font-size: 10pt">&#8226;</FONT></TD>
    <TD STYLE="vertical-align: top; padding: 0.25pt; font-size: 10pt"><FONT STYLE="font-size: 10pt"><B>Class&nbsp;II Directors, whose terms expire at the Company&#8217;s 2023 Annual Meeting: </B>Neil Cohen and Claude Nicaise </FONT></TD></TR>
</TABLE>
<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>
    <TD STYLE="width: 0.25in; padding: 0.25pt; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="vertical-align: top; width: 0.25in; padding: 0.25pt; font-size: 10pt"><FONT STYLE="font-size: 10pt">&#8226;</FONT></TD>
    <TD STYLE="vertical-align: top; padding: 0.25pt; font-size: 10pt"><FONT STYLE="font-size: 10pt"><B>Class&nbsp;III Directors, whose terms expire at the Company&#8217;s 2024 Annual Meeting: </B>Adi Mor and Alan Moses </FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 20pt"><B><I>&nbsp;</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"><B><I>Stephen Squinto, Ph.D.</I></B>&nbsp;will serve on the Board as chairman upon the consummation of the Merger. Dr.&nbsp;Squinto is a Partner at OrbiMed Advisors LLC, an
investment firm, and has also served as acting Head of Research and Development of SpringWorks Therapeutics, Inc. Dr.&nbsp;Squinto
currently serves on the boards of directors of Passage Bio Inc., SpringWorks Therapeutics, Inc., and several private companies.
Dr.&nbsp;Squinto also previously served on the boards of directors of Audentes Therapeutics, Inc. and Arvinas, Inc. Previously,
Dr.&nbsp;Squinto co-founded Alexion Pharmaceuticals, a biotechnology company, and served as its Executive Vice President and Chief
Global Operations Officer from 2012 to January&nbsp;2015 and as its Global Head of Research and Development from 2007 to 2012.
Dr.&nbsp;Squinto holds a Ph.D. in biochemistry and biophysics and a B.A. in chemistry from Loyola University of Chicago. We believe
Dr.&nbsp;Squinto is qualified to serve as a director due to his extensive experience as an entrepreneur and investor in the life
sciences industry and his service on the boards of other public and private biopharmaceutical and biotechnology companies.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"><B><I>Adi Mor,
Ph.D.</I></B>&nbsp;will serve on the Board upon the consummation of the Merger. Dr. Mor is a co-founder of Chemomab and has
served as Chemomab&#8217;s Chief Executive Officer, Chief Scientific Officer, member of Chemomab&#8217;s board of directors
since its formation in 2011. She has in-depth knowledge in
immunology focusing on rare diseases and broad experience in designing, developing and patenting a novel class of monoclonal
antibodies to treat inflammatory and fibrotic diseases. Dr.&nbsp;Mor received her Ph.D. in immunology from Tel Aviv
University in the Department of Neurobiochemistry in Israel and is the lead author of numerous scientific journal
publications in immunology and inflammatory disorders. Dr.&nbsp;Mor is expected to be appointed to serve on the board of
directors of the combined company because of her scientific background and experience in the life sciences industry.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"><B><I>Nissim Darvish, M.D.,
Ph.D.</I></B>&nbsp;will serve on the Board upon the consummation of the Merger. Dr.&nbsp;Darvish is a Venture Partner at
OrbiMed Israel, an investment firm. Dr.&nbsp;Darvish currently serves as a director of 9 Meters Biopharma Inc. and several
private companies. Previously, Dr.&nbsp;Darvish was employed at Pitango Venture Capital, where he was a General Partner
managing life sciences investments. He was also the founder and CEO of Impulse Dynamics, where he culminated in a
$250&nbsp;million realization event. Dr.&nbsp;Darvish obtained his M.D. and Ph.D. in Biophysics and Physiology from the
Technion in Israel, and subsequently conducted his post-doctoral research at NIH. He has published over 100 patents and
authored over 20 publications. We believe that Dr.&nbsp;Darvish is qualified to serve on our board of directors based on his
roles on several public and private boards of directors as well as his extensive experience in investing in healthcare
companies.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"><B><I>Joel Maryles</I></B>&nbsp;has served
on the Board upon the consummation of the Merger. Mr.&nbsp;Maryles currently serves on the board of directors and as the Chairman
of Remuneration Committee of Jefferies International Ltd., since 2016. Mr.&nbsp;Maryles previously served on the board of directors
of Radware Ltd. (NASDAQ: RDWR), from 2014 to 2020 and from 2014 to 2016, on the board of directors of EZchip Semiconductor Ltd.,
which was acquired by Mellanox Technologies in 2016. From 2015 to 2018, Mr.&nbsp;Maryles was a Partner at OurCrowd and from 2007
to 2012, he served as a Portfolio Manager at T-Cubed Investments, which he founded. Prior to that, Mr.&nbsp;Maryles served as a
Managing Director of the Investment Banking division of Citigroup, Israel and of Furman Selz, Israel. Mr.&nbsp;Maryles holds a
Bachelor of Science in Mechanical Engineering from the University of Illinois and an MBA from the University of Chicago, Illinois.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 20pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 20pt"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 20pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"><B><I>Alan Moses, M.D., FACP</I></B>&nbsp;will serve on the Board upon the consummation of the Merger. Dr.&nbsp;Moses is board certified by the ABIM with subspecialty certification
in Endocrinology and Metabolism and is a Fellow of the American College of Physicians. Dr.&nbsp;Moses currently serves on the board
of directors of BioFabUSA, since 2018. Prior to that time, from 2008 to 2018, Dr.&nbsp;Moses served as the Global Chief Medical
Officer of Novo Nordisk A/S (CPH: NOVO-B), which he joined in 2004. Dr.&nbsp;Moses served as a Professor of Medicine at Harvard
Medical School from 2002 to 2006, and in collaboration with MIT, he co-founded and co-directed the Clinical Investigator Training
Program, which focused on training physician-scientists in translational research. Dr.&nbsp;Moses previously served as the Senior
Vice President and Chief Medical Officer of the Joslin Diabetes Center, from 1998 to 2004. Dr.&nbsp;Moses holds a BS from Duke
University, North Carolina and an MD from Washington University School of Medicine, Missouri.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"><B><I>Claude Nicaise, M.D.</I></B>&nbsp;will serve on the Board upon the consummation of the Merger. Dr.&nbsp;Nicaise is a physician with extensive US and international experience
in clinical drug development, strategic management, worldwide regulatory strategy, pharmaceuticals, biotechnology, including clinical
cancer research, infectious diseases and neuroscience. Dr.&nbsp;Nicaise is the owner and founder of Clinical Regulatory Services,
which provides consulting services to the life science and biotechnology industry in support of all aspects of clinical and regulatory
development. Dr.&nbsp;Nicaise currently serves on the board of directors and as the Chairman of the Compensation Committee of Sarepta
Therapeutics, Inc. (NASDAQ: SRPT), since 2015, as well as on the board of directors of Mynoryx Therapeutics, since 2017. Prior
to that time, from 2008 to 2014, Dr.&nbsp;Nicaise served as the Senior Vice President of Alexion Pharmaceuticals Inc. (NASDAQ:
ALXN), and between 1984 and 2008, he held numerous senior management roles at Bristol Myers Squibb (NYSE: BMY). Dr.&nbsp;Nicaise
holds an MD and a degree in Internal Medicine, Clinical Oncology, from Brussels University, Belgium.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"><B><I>Neil Cohen</I></B>&nbsp;has
served as a member of Anchiano&#8217;s board of directors since April&nbsp;2020 and as Anchiano&#8217;s interim Chief
Executive Officer from October&nbsp;2020 until the consummation of the Merger. Mr.&nbsp;Cohen has served as the Chairman and Chief Executive Officer of Castel
Partners Ltd. since January&nbsp;2012. In 1994, he co-founded Israel Seed Partners, a leading venture capital firm, and
managed the firm until 2019. Mr.&nbsp;Cohen has invested in and served on the boards of directors of many private technology
companies, including a large number which were acquired or completed successful initial public offerings, including Compugen
(Nasdaq: CGEN), Shopping.com (Nasdaq: SHOP, acquired by EBAY), Broadlight (acquired by Broadcom, Nasdaq: AVGO) and Cyota
(acquired by RSA). He is a venture partner at SKY, an Israeli middle-market private equity firm, Hetz Ventures Management
Ltd., an early-stage Israeli venture capital fund, and Shavit Capital. Mr.&nbsp;Cohen was previously the Business Editor of
The Jerusalem Post and began his career in the private equity group at N&nbsp;M&nbsp;Rothschild &amp; Sons Limited in London.
Mr.&nbsp;Cohen received a B.A. and M.A. in Oriental Studies, with first class honors, from Oxford University. Mr.&nbsp;Cohen
will serve on the Board of the combined company because of his extensive experience
serving as a director of both private and public companies.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 20pt">&nbsp;</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Audit Committee </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">In connection with the closing of the Merger, Joel Maryles,
Alan Moses and Claude Nicaise were appointed to the audit committee of the Board. Joel Maryles was appointed as the chairperson
of the audit committee and is a financial expert under the rules of the SEC.</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"><B>Compensation Committee </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">In connection with the closing of the Merger, Nissim Darvish
and Neil Cohen were appointed to the compensation committee of the Board, and Nissim Darvish was appointed the chair of the compensation
committee.</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"><B>Corporate Governance and Nominating Committee </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">In connection with the closing of the Merger, Neil Cohen and
Joel Maryles were appointed to the nominating and corporate governance committee of the Board, and Neil Cohen was appointed the
chair of the nominating and corporate governance committee.</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><I>Resignation of Principal Officers</I></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">In accordance with the Merger Agreement, on March 16,
2021, upon the effective time of the Merger, Neil Cohen resigned as interim Chief Executive Officer of the Company, and
Andrew Fine resigned as Chief Financial Officer of the Company.</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"><I>Appointment of Principal Officers </I></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">In accordance with the Merger Agreement and an action of the
Board, on March 16, 2021, the Board appointed Adi Mor as the Company&#8217;s Chief Executive Officer and Chief Scientific Officer,
Sigal Fattal as the Company&#8217;s interim Chief Financial Officer and Aaron Aharon as the Company&#8217;s Chief Medical Officer,
each effective as of the closing of the Merger and to serve at the discretion of the Board.</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">There are no family relationships among any of the Company&#8217;s
newly appointed principal officers. None of the Company&#8217;s newly appointed principal officers has a direct or indirect material
interest in any transaction required to be disclosed pursuant to Item 404(a) of Regulation S-K.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"><B><I>Adi Mor, Ph.D.</I></B> Dr.&nbsp;Mor&#8217;s
biographical information is disclosed in the section above under the heading &#8220;<I>Appointment of Directors</I>.&#8221;</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"><B><I>Arnon Aharon, M.D. </I></B>has served
as Chemomab&#8217;s Chief Medical Officer since January&nbsp;2018. Prior to his promotion, Dr.&nbsp;Aharon served as Chemomab&#8217;s
Head of Clinical Development from December&nbsp;2016 to December&nbsp;2017. Prior to joining Chemomab, from January&nbsp;2014 to
November&nbsp;2016, Dr.&nbsp;Aharon served as Chief Medical Officer at BioLineRx Ltd., a company listed on Nasdaq and The Tel Aviv
Stock Exchange, where he directed the oncology and immunology pipeline. Dr.&nbsp;Aharon also served at multiple senior management
positions at biotechnology companies, including Pharmos Ltd., a company listed on Nasdaq and The Tel Aviv Stock Exchange, Thrombotech
Ltd., and LycoRed Ltd. Dr.&nbsp;Aharon is a member of several industry advisory groups and provides consulting services to biotechnology
companies and academic institutions. Dr.&nbsp;Aharon received his M.D. from the University of Tel Aviv in Israel.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"><B><I>Sigal Fattal</I></B>&nbsp; has
served as Chemomab&#8217;s interim Chief Financial Officer since October&nbsp;2020. Prior to joining Chemomab, from
March&nbsp;2017 to December&nbsp;2019, Ms.&nbsp;Fattal served as Chief Financial Officer at BiomX (NYSE American: PHGE), a
clinical stage microbiome product discovery company. Prior to joining BiomX, Ms.&nbsp;Fattal served as Chief Financial
Officer at Evogene (Nasdaq and TASE: EVGN), a computational biology company, from 2013 to 2016. Prior to that time,
Ms.&nbsp;Fattal served in multiple financial and operational executive roles in various companies. Ms.&nbsp;Fattal also
currently serves as co founder of Simbiz, which was started in September&nbsp;2020 and which offers one-stop shop corporate
services to startup companies. Ms.&nbsp;Fattal is a certified CPA (Isr.), and holds a BA in Accounting and Economics, and an
MBA, both from Tel Aviv University.</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: 0.75in; padding: 0.25pt; font-size: 10pt"><FONT STYLE="font-size: 10pt"><B>Item&nbsp;5.03</B></FONT></TD>
    <TD STYLE="padding: 0.25pt; font-size: 10pt"><FONT STYLE="font-size: 10pt"><B>Amendments to Certificate of Incorporation </B></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">The information set forth in Item 3.03 of this Current Report
on Form 8-K is incorporated by reference into this Item 5.03.</P>

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

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

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

<TABLE 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: 0.75in; padding: 0.25pt; font-size: 10pt"><FONT STYLE="font-size: 10pt"><B>Item&nbsp;5.07</B></FONT></TD>
    <TD STYLE="padding: 0.25pt; font-size: 10pt"><FONT STYLE="font-size: 10pt"><B>Submission of Matters to a Vote of Security Holders </B></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">On March 15, 2021, Anchiano held its Special Meeting. The following
is a brief description of the final voting results for each of the proposals submitted to a vote of the shareholders at the Special
Meeting. The final voting results do not reflect the Reverse Split. </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">(a) <I>Proposal 1 &#8212; </I>The proposal to approve the consummation
of the Merger and the other transactions contemplated by the Merger Agreement, including the issuance of Anchiano ordinary shares,
to be represented by ADSs, at the Effective Time to the securityholders of Chemomab was approved, as follows:</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: bottom">
    <TD STYLE="white-space: nowrap; padding: 0.25pt; font-size: 10pt; text-align: center; width: 30%"><FONT STYLE="font-size: 10pt"><B>Votes For</B></FONT></TD>
    <TD STYLE="padding: 0.25pt; font-size: 10pt; width: 5%">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; padding: 0.25pt 0.25pt 0.5pt; font-size: 10pt; text-align: center; width: 30%"><FONT STYLE="font-size: 10pt"><B>Votes Against</B></FONT></TD>
    <TD STYLE="padding: 0.25pt; font-size: 10pt; width: 5%">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; padding: 0.25pt 0.25pt 0.5pt; font-size: 10pt; text-align: center; width: 30%"><FONT STYLE="font-size: 10pt"><B>Abstentions</B></FONT></TD>
    </TR>
<TR STYLE="background-color: #CCEEFF">
    <TD STYLE="vertical-align: top; padding: 0.25pt 0.25pt 0.25pt 10pt; font-size: 10pt; text-align: center; text-indent: -10pt">21,038,840</TD>
    <TD STYLE="vertical-align: bottom; padding: 0.25pt; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding: 0.25pt; font-size: 10pt; text-align: center">26,420</TD>
    <TD STYLE="vertical-align: bottom; padding: 0.25pt; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding: 0.25pt; font-size: 10pt; text-align: center">17,510</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">(b) <I>Proposal 2 &#8212; </I>The proposal to approve the issuance
of such number of Anchiano ordinary shares (including ordinary shares represented by ADSs) in the Private Placement was approved,
as follows:</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: bottom">
    <TD STYLE="white-space: nowrap; padding: 0.25pt; text-align: center; width: 30%"><FONT STYLE="font-size: 10pt"><B>Votes For</B></FONT></TD>
    <TD STYLE="padding: 0.25pt; width: 5%">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; padding: 0.25pt 0.25pt 0.5pt; text-align: center; width: 30%"><FONT STYLE="font-size: 10pt"><B>Votes Against</B></FONT></TD>
    <TD STYLE="padding: 0.25pt; width: 5%">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; padding: 0.25pt 0.25pt 0.5pt; text-align: center; width: 30%"><FONT STYLE="font-size: 10pt"><B>Abstentions</B></FONT></TD>
    </TR>
<TR STYLE="background-color: #CCEEFF">
    <TD STYLE="vertical-align: top; padding: 0.25pt 0.25pt 0.25pt 10pt; text-align: center; text-indent: -10pt"><FONT STYLE="font-size: 10pt">20,999,475</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding: 0.25pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding: 0.25pt; text-align: center">68,200</TD>
    <TD STYLE="vertical-align: bottom; padding: 0.25pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding: 0.25pt; text-align: center">15,095</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"><I>(c) Proposal 3 &#8212; </I>The proposal to approve and adopt
the Amended and Restated Articles of Association was approved, as follows:</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: bottom">
    <TD STYLE="white-space: nowrap; padding: 0.25pt; text-align: center; width: 30%"><FONT STYLE="font-size: 10pt"><B>Votes For</B></FONT></TD>
    <TD STYLE="padding: 0.25pt; width: 5%">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; padding: 0.25pt 0.25pt 0.5pt; text-align: center; width: 30%"><FONT STYLE="font-size: 10pt"><B>Votes Against</B></FONT></TD>
    <TD STYLE="padding: 0.25pt; width: 5%">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; padding: 0.25pt 0.25pt 0.5pt; text-align: center; width: 30%"><FONT STYLE="font-size: 10pt"><B>Abstentions</B></FONT></TD>
    </TR>
<TR STYLE="background-color: #CCEEFF">
    <TD STYLE="vertical-align: top; padding: 0.25pt 0.25pt 0.25pt 10pt; text-align: center; text-indent: -10pt">21,001,885</TD>
    <TD STYLE="vertical-align: bottom; padding: 0.25pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding: 0.25pt; text-align: center">66,820</TD>
    <TD STYLE="vertical-align: bottom; padding: 0.25pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding: 0.25pt; text-align: center">14,065</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">(d) <I>Proposal 4 &#8212; </I>The proposal to approve the form
of Indemnification Agreement and to authorize the execution and delivery of such Indemnification Agreement with all directors of
the Company to be in office immediately following the Effective Time of the Merger or thereafter elected or appointed to the Board
was approved, as follows:</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: bottom">
    <TD STYLE="white-space: nowrap; padding: 0.25pt; text-align: center; width: 30%"><FONT STYLE="font-size: 10pt"><B>Votes For</B></FONT></TD>
    <TD STYLE="padding: 0.25pt; width: 5%">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; padding: 0.25pt 0.25pt 0.5pt; text-align: center; width: 30%"><FONT STYLE="font-size: 10pt"><B>Votes Against</B></FONT></TD>
    <TD STYLE="padding: 0.25pt; width: 5%">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; padding: 0.25pt 0.25pt 0.5pt; text-align: center; width: 30%"><FONT STYLE="font-size: 10pt"><B>Abstentions</B></FONT></TD>
    </TR>
<TR STYLE="background-color: #CCEEFF">
    <TD STYLE="vertical-align: top; padding: 0.25pt 0.25pt 0.25pt 10pt; text-align: center; text-indent: -10pt"><FONT STYLE="font-size: 10pt">21,004,040</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding: 0.25pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding: 0.25pt; text-align: center"><FONT STYLE="font-size: 10pt">47,980</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding: 0.25pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding: 0.25pt; text-align: center">30,750</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>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">(e) <I>Proposal 5 &#8212; </I>The proposal to approve an amendment
to the Company&#8217;s Compensation Policy to remove the limit on the annual premium for directors and officers insurance was approved,
as follows:</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>
    <TD STYLE="text-align: center; padding: 0.25pt; width: 30%"><FONT STYLE="font-size: 10pt"><B>Votes For</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; padding: 0.25pt; width: 5%">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding: 0.25pt; text-align: center; width: 30%"><FONT STYLE="font-size: 10pt"><B>Votes
    Against</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; padding: 0.25pt; width: 5%">&nbsp;</TD>
    <TD STYLE="text-align: center; border-bottom: Black 1pt solid; padding: 0.25pt; width: 30%"><FONT STYLE="font-size: 10pt"><B>Abstentions</B></FONT></TD>
    </TR>
<TR STYLE="background-color: #CCEEFF">
    <TD STYLE="text-align: center; padding: 0.25pt">20,224,320</TD>
    <TD STYLE="vertical-align: bottom; padding: 0.25pt">&nbsp;</TD>
    <TD STYLE="text-align: center; padding: 0.25pt">212,145</TD>
    <TD STYLE="vertical-align: bottom; padding: 0.25pt">&nbsp;</TD>
    <TD STYLE="text-align: center; padding: 0.25pt">7,760</TD>
    </TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><I>&nbsp;</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><I>(f) Proposal 6 &#8212; </I>The proposal to approve an amendment
to the compensation terms of the current and future directors of the Company, and related amendments to the Company&#8217;s Compensation
Policy was approved, as follows:</P>

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; padding: 0.25pt; text-align: center; width: 30%"><FONT STYLE="font-size: 10pt"><B>Votes For</B></FONT></TD>
    <TD STYLE="padding: 0.25pt; width: 5%">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; padding: 0.25pt 0.25pt 0.5pt; text-align: center; width: 30%"><FONT STYLE="font-size: 10pt"><B>Votes Against</B></FONT></TD>
    <TD STYLE="padding: 0.25pt; width: 5%">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; padding: 0.25pt 0.25pt 0.5pt; text-align: center; width: 30%"><FONT STYLE="font-size: 10pt"><B>Abstentions</B></FONT></TD>
    </TR>
<TR STYLE="background-color: #CCEEFF">
    <TD STYLE="vertical-align: top; padding: 0.25pt 0.25pt 0.25pt 10pt; text-align: center; text-indent: -10pt"><FONT STYLE="font-size: 10pt">20,139,860</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding: 0.25pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding: 0.25pt; text-align: center">173,170</TD>
    <TD STYLE="vertical-align: bottom; padding: 0.25pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding: 0.25pt; text-align: center"><FONT STYLE="font-size: 10pt">142,495</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"><I></I></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: 0.75in; padding: 0.25pt"><FONT STYLE="font-size: 10pt"><B>Item&nbsp;8.01</B></FONT></TD>
    <TD STYLE="padding: 0.25pt"><FONT STYLE="font-size: 10pt"><B>Other Events. </B></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">On March 15, 2021, the Company issued a press release announcing
the shareholder approval of the Merger and the Private Placement. A copy of the press release is attached as Exhibit 99.1 to this
Current Report on Form 8-K.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">On March 16, 2021, the Company issued a press release announcing
the completion of the Merger, including the Name Change. A copy of the press release is attached as Exhibit 99.2 to this Current
Report on Form 8-K.</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>

<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: 0.75in; padding: 0.25pt"><FONT STYLE="font-size: 10pt"><B>Item&nbsp;9.01</B></FONT></TD>
    <TD STYLE="padding: 0.25pt"><FONT STYLE="font-size: 10pt"><B>Financial Statements and Exhibits </B></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">(a) Financial Statements of Chemomab Therapeutics Ltd.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">The Company will file the financial statements required to be
filed by this Item 9.01(a) not later than seventy-one (71)&nbsp;calendar days after the date on which this Current Report on Form
8-K is required to be filed.</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">(b) Pro Forma Financial Information.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">The Company will file the financial statements required to be
filed by this Item 9.01(b) not later than seventy one (71)&nbsp;calendar days after the date on which this Current Report on Form
8-K is required to be filed.</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">(d) Exhibits Below is a list of exhibits included with this
Current Report on Form 8-K.</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: bottom">
    <TD STYLE="white-space: nowrap; padding: 0.25pt; width: 0.65in"><FONT STYLE="font-size: 10pt"><B>Exhibit<BR>
No.</B></FONT></TD>
    <TD STYLE="padding: 0.25pt; width: 0.1in">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; padding: 0.25pt 0.25pt 1pt; text-align: center"><FONT STYLE="font-size: 10pt"><B>Document</B></FONT></TD></TR>
<TR>
    <TD STYLE="padding: 0.25pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="padding: 0.25pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="white-space: nowrap; padding: 0.25pt"><A HREF="https://www.sec.gov/Archives/edgar/data/1534248/000110465920135706/tm2038483d1_ex2-1.htm" STYLE="-sec-extract: exhibit"><FONT STYLE="font-size: 10pt">2.1*</FONT></A></TD>
    <TD STYLE="padding: 0.25pt">&nbsp;</TD>
    <TD STYLE="padding: 0.25pt"><A HREF="https://www.sec.gov/Archives/edgar/data/1534248/000110465920135706/tm2038483d1_ex2-1.htm" STYLE="-sec-extract: exhibit"><FONT STYLE="font-size: 10pt">Agreement and Plan of Merger, dated December 14, 2020, by and among Chemomab Therapeutics Ltd. (formerly known as Anchiano Therapeutics Ltd.), Chemomab Ltd. and CMB Acquisition Ltd. (incorporated by reference to Exhibit 2.1 of the Company&#8217;s Current Report on Form 8-K (File No. 001-38807) filed on December 15, 2020)</FONT></A></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="white-space: nowrap; padding: 0.25pt"><A HREF="tm219877d1_ex3-1.htm" STYLE="-sec-extract: exhibit"><FONT STYLE="font-size: 10pt">3.1</FONT></A></TD>
    <TD STYLE="padding: 0.25pt">&nbsp;</TD>
    <TD STYLE="padding: 0.25pt"><A HREF="tm219877d1_ex3-1.htm" STYLE="-sec-extract: exhibit"><FONT STYLE="font-size: 10pt">Amended and Restated Articles of Association of Chemomab Therapeutics Ltd. (formerly known as Anchiano Therapeutics Ltd.)</FONT></A></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="white-space: nowrap; padding: 0.25pt"><A HREF="tm219877d1_ex10-1.htm" STYLE="-sec-extract: exhibit"><FONT STYLE="font-size: 10pt">10.1</FONT></A></TD>
    <TD STYLE="padding: 0.25pt">&nbsp;</TD>
    <TD STYLE="padding: 0.25pt"><A HREF="tm219877d1_ex10-1.htm" STYLE="-sec-extract: exhibit"><FONT STYLE="font-size: 10pt">Form of Securities Purchase Agreement, dated March 15, 2021, by and between Chemomab Therapeutics Ltd. (formerly known as Anchiano Therapeutics Ltd.) and certain purchasers</FONT></A></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="white-space: nowrap; padding: 0.25pt"><A HREF="tm219877d1_ex10-2.htm" STYLE="-sec-extract: exhibit"><FONT STYLE="font-size: 10pt">10.2</FONT></A></TD>
    <TD STYLE="padding: 0.25pt">&nbsp;</TD>
    <TD STYLE="padding: 0.25pt"><A HREF="tm219877d1_ex10-2.htm" STYLE="-sec-extract: exhibit"><FONT STYLE="font-size: 10pt">Form of American Depositary Shares Purchase Warrant of Chemomab
Therapeutics Ltd.</FONT></A></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="white-space: nowrap; padding: 0.25pt"><A HREF="tm219877d1_ex10-3.htm" STYLE="-sec-extract: exhibit"><FONT STYLE="font-size: 10pt">10.3</FONT></A></TD>
    <TD STYLE="padding: 0.25pt">&nbsp;</TD>
    <TD STYLE="padding: 0.25pt"><A HREF="tm219877d1_ex10-3.htm" STYLE="-sec-extract: exhibit"><FONT STYLE="font-size: 10pt">Form of Anti-Dilution Warrant of Chemomab Therapeutics Ltd. (formerly known as Anchiano Therapeutics Ltd.)</FONT></A></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="white-space: nowrap; padding: 0.25pt"><A HREF="tm219877d1_ex10-4.htm" STYLE="-sec-extract: exhibit"><FONT STYLE="font-size: 10pt">10.4*</FONT></A></TD>
    <TD STYLE="padding: 0.25pt">&nbsp;</TD>
    <TD STYLE="padding: 0.25pt"><A HREF="tm219877d1_ex10-4.htm" STYLE="-sec-extract: exhibit"><FONT STYLE="font-size: 10pt">Asset
    Purchase and Assignment Agreement, dated as of March 16, 2021, made between Anchiano Therapeutics, Inc. and Kestrel
    Therapeutics, Inc.</FONT></A></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="white-space: nowrap; padding: 0.25pt"><A HREF="https://www.sec.gov/Archives/edgar/data/1534248/000110465921019580/tm211883-4_s4a.htm#tANF" STYLE="-sec-extract: exhibit"><FONT STYLE="font-size: 10pt">10.5#</FONT></A></TD>
    <TD STYLE="padding: 0.25pt">&nbsp;</TD>
    <TD STYLE="padding: 0.25pt"><A HREF="https://www.sec.gov/Archives/edgar/data/1534248/000110465921019580/tm211883-4_s4a.htm#tANF" STYLE="-sec-extract: exhibit"><FONT STYLE="font-size: 10pt">Form of Indemnification Agreement of Chemomab Therapeutics Ltd. (formerly known as Anchiano Therapeutics Ltd.) (incorporated by reference to Exhibit 10.7 of the Company&#8217;s Registration Statement on Form S-4 (File No. 333-252070) filed on February 10, 2021)</FONT></A></TD></TR>
<TR>
    <TD STYLE="white-space: nowrap; vertical-align: top; padding: 0.25pt"><A HREF="tm219877d1_ex99-1.htm" STYLE="-sec-extract: exhibit"><FONT STYLE="font-size: 10pt">99.1</FONT></A></TD>
    <TD STYLE="vertical-align: bottom; padding: 0.25pt">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding: 0.25pt"><A HREF="tm219877d1_ex99-1.htm" STYLE="-sec-extract: exhibit"><FONT STYLE="font-size: 10pt">Press Release, issued on March 15, 2021.</FONT></A></TD></TR>
<TR>
    <TD STYLE="white-space: nowrap; vertical-align: top; padding: 0.25pt"><A HREF="tm219877d1_ex99-2.htm" STYLE="-sec-extract: exhibit"><FONT STYLE="font-size: 10pt">99.2</FONT></A></TD>
    <TD STYLE="vertical-align: bottom; padding: 0.25pt">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding: 0.25pt"><A HREF="tm219877d1_ex99-2.htm" STYLE="-sec-extract: exhibit"><FONT STYLE="font-size: 10pt">Press Release, issued on March 16, 2021.</FONT></A></TD></TR>
</TABLE>
<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: 4%; padding: 0.25pt"><FONT STYLE="font-size: 10pt">*</FONT></TD>
    <TD STYLE="padding: 0.25pt"><FONT STYLE="font-size: 10pt">Certain schedules and exhibits to this exhibit have been omitted pursuant to Item 601(a)(5) of Regulation S-K. A copy of any omitted schedule and/or exhibit will be furnished to the SEC upon request.</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0.25pt"><FONT STYLE="font-size: 10pt">#</FONT></TD>
    <TD STYLE="padding: 0.25pt"><FONT STYLE="font-size: 10pt">Indicates a management contract or any compensatory plan, contract or arrangement.</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

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

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

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Pursuant to the requirements of the Securities Exchange Act
of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.</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>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="padding: 0.25pt"><FONT STYLE="font-size: 10pt"><B>Chemomab Therapeutics Ltd. </B></FONT></TD></TR>
<TR>
    <TD>&nbsp;</TD>
    <TD STYLE="padding: 0.25pt">&nbsp;</TD>
    <TD STYLE="padding: 0.25pt">&nbsp;</TD></TR>
<TR>
    <TD STYLE="width: 50%">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding: 0.25pt; width: 5%"><FONT STYLE="font-size: 10pt">By:</FONT></TD>
    <TD STYLE="vertical-align: top; border-bottom: black 1pt solid; padding: 0.25pt 0.25pt 0.4pt; width: 45%"><FONT STYLE="font-size: 10pt">/s/ Adi Mor</FONT></TD></TR>
<TR>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding: 0.25pt"><FONT STYLE="font-size: 10pt">Name:</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding: 0.25pt"><FONT STYLE="font-size: 10pt">Adi Mor</FONT></TD></TR>
<TR>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding: 0.25pt"><FONT STYLE="font-size: 10pt">Title:</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding: 0.25pt"><FONT STYLE="font-size: 10pt">Chief Executive Officer and Chief Scientific Officer </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">Date: March 16, 2021</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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<DOCUMENT>
<TYPE>EX-3.1
<SEQUENCE>2
<FILENAME>tm219877d1_ex3-1.htm
<DESCRIPTION>EXHIBIT 3.1
<TEXT>
<HTML>
<HEAD>
     <TITLE></TITLE>
</HEAD>
<BODY STYLE="font: 10pt Times New Roman, Times, Serif">

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

<P STYLE="text-align: right; margin: 0"><B>Exhibit 3.1</B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">THE COMPANIES LAW, 1999</P>

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

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

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

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">Therapeutics</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">As Adopted on _____, 2021</P>

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

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

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0%"></TD><TD STYLE="width: 0.5in">1.</TD><TD STYLE="text-align: justify"><FONT STYLE="font-variant: small-caps"><B><U>Definitions; Interpretation</U></B>. </FONT></TD></TR></TABLE>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0.5in; text-indent: 0in; text-align: justify">(a)
 &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;In these Articles, the following terms (whether or not capitalized) shall bear the meanings set forth opposite them, respectively,
unless the subject or context requires otherwise.</P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="text-align: left; width: 2in; vertical-align: top">&ldquo;Articles&rdquo;</TD>
                             <TD STYLE="text-align: justify">shall mean these Articles of Association, as amended from time to time.</TD></TR>
<TR STYLE="vertical-align: top">
<TD>&nbsp;</TD><TD STYLE="text-align: left; vertical-align: top">&nbsp;</TD>
                             <TD STYLE="text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="text-align: left; font: 10pt Times New Roman, Times, Serif; vertical-align: top">&ldquo;Board of Directors&rdquo;</TD>
    <TD STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif"> shall mean the Board of Directors of the Company.</TD></TR>

<TR STYLE="vertical-align: bottom">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="text-align: left; font: 10pt Times New Roman, Times, Serif; vertical-align: top">&nbsp;</TD>
    <TD STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
<TD></TD><TD STYLE="text-align: left; vertical-align: top">&ldquo;Chairperson&rdquo;</TD><TD STYLE="text-align: justify">shall mean the Chairperson of the Board of Directors, or the Chairperson of the General Meeting,
as the context implies;</TD></TR>
<TR STYLE="vertical-align: top">
<TD>&nbsp;</TD><TD STYLE="text-align: left; vertical-align: top">&nbsp;</TD><TD STYLE="text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
<TD></TD><TD STYLE="text-align: left; vertical-align: top">&ldquo;Company&rdquo;</TD>
                             <TD STYLE="text-align: justify">shall mean <B>Chemomab Therapeutics Ltd</B>.</TD></TR>
<TR STYLE="vertical-align: top">
<TD>&nbsp;</TD><TD STYLE="text-align: left; vertical-align: top">&nbsp;</TD>
                             <TD STYLE="text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="text-align: left; font: 10pt Times New Roman, Times, Serif; vertical-align: top">&ldquo;Companies Law&rdquo;</TD>
    <TD STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif"> shall mean the Israeli Companies Law, 5759-1999 and the regulations promulgated thereunder. The Companies Law shall include reference
to the Companies Ordinance (New Version), 5743-1983, of the State of Israel, to the extent in effect according to the provisions
thereof.</TD></TR>

<TR STYLE="vertical-align: bottom">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="text-align: left; font: 10pt Times New Roman, Times, Serif; vertical-align: top">&nbsp;</TD>
    <TD STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
<TD></TD><TD STYLE="text-align: left; vertical-align: top">&ldquo;Director(s)&rdquo;</TD>
                             <TD STYLE="text-align: justify">shall mean the member(s) of the Board of Directors holding office at a given time.</TD></TR>
<TR STYLE="vertical-align: top">
<TD>&nbsp;</TD><TD STYLE="text-align: left; vertical-align: top">&nbsp;</TD>
                             <TD STYLE="text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif; text-align: left">&ldquo;External Director(s)&rdquo;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify">shall have the meaning provided for such term in the Companies Law.</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left; font: 10pt Times New Roman, Times, Serif; vertical-align: top">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif; text-align: left">&ldquo;General Meeting&rdquo;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify">shall mean an Annual General Meeting or Special General Meeting of the Shareholders (each as defined in Article 23 of these Articles), as the case may be.</TD></TR>

<TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
<TD></TD><TD STYLE="text-align: left; vertical-align: top">&ldquo;NIS&rdquo;</TD><TD STYLE="text-align: justify">shall mean New Israeli Shekels.</TD></TR>
<TR STYLE="vertical-align: top">
<TD>&nbsp;</TD><TD STYLE="text-align: left; vertical-align: top">&nbsp;</TD><TD STYLE="text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
<TD></TD><TD STYLE="text-align: left; vertical-align: top">&ldquo;Office&rdquo;</TD><TD STYLE="text-align: justify">shall mean the registered office of the Company at a given time.</TD></TR>
<TR STYLE="vertical-align: top">
<TD>&nbsp;</TD><TD STYLE="text-align: left; vertical-align: top">&nbsp;</TD><TD STYLE="text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 10pt">&ldquo;Office
    Holder&rdquo; or &ldquo;Officer&rdquo;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify"><FONT STYLE="font-size: 10pt">shall have
    the meaning provided for such term in the Companies Law.</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; font: 10pt Times New Roman, Times, Serif; vertical-align: top"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 10pt">&ldquo;Economic Competition
    Law&rdquo;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify"><FONT STYLE="font-size: 10pt">shall mean the Israeli
    Economic Competition Law, 5758-1988 and the regulations promulgated thereunder.</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; font: 10pt Times New Roman, Times, Serif; vertical-align: top"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 10pt">&ldquo;Securities Law&rdquo;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify"><FONT STYLE="font-size: 10pt">shall mean the Israeli
    Securities Law 5728-1968 and the regulations promulgated thereunder.</FONT></TD></TR>

<TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
<TD></TD><TD STYLE="text-align: left; vertical-align: top">&ldquo;Shareholder(s)&rdquo;</TD>
                             <TD STYLE="text-align: justify">shall mean the shareholder(s) of the Company, at any given time.</TD></TR></TABLE>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0.5in; text-indent: 0in; text-align: justify">(b)
 &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Unless the context shall otherwise require: words in the singular shall also include the plural, and vice versa; any pronoun
shall include the corresponding masculine, feminine and neuter forms; the words &ldquo;include&rdquo;, &ldquo;includes&rdquo;
and &ldquo;including&rdquo; shall be deemed to be followed by the phrase &ldquo;without limitation&rdquo;; the words
 &ldquo;herein&rdquo;, &ldquo;hereof&rdquo; and &ldquo;hereunder&rdquo; and words of similar import refer to these Articles in
their entirety and not to any part hereof; all references herein to Articles or clauses shall be deemed references to
Articles or clauses of these Articles; any references to any agreement or other instrument or law, statute or regulation are
to it as amended, supplemented or restated, from time to time (and, in the case of any law, to any successor provisions or
re-enactment or modification thereof being in force at the time); any reference to &ldquo;law&rdquo; shall include any law
(&lsquo;<I>din</I>&rsquo;) as defined in the Interpretation Law, 5741-1981 and any applicable supranational, national,
federal, state, local, or foreign statute or law and shall be deemed also to refer to all rules and regulations promulgated <FONT STYLE="font-size: 10pt">thereunder;
any reference to a &ldquo;day&rdquo; or a number of &ldquo;days&rdquo; (without any explicit reference otherwise, such as to
business days) shall be interpreted as a reference to a calendar day or number of calendar days; any reference to a business
day or business days shall mean each calendar day other than any calendar day on which commercial banks in New York, New York
or Tel-Aviv, Israel are authorized or required by applicable law to close; reference to a month or year means according to
the Gregorian calendar; any reference to a &ldquo;Person&rdquo; shall mean any individual, partnership, corporation, limited
liability company, association, estate, any political, governmental, regulatory or similar agency or body or other legal
entity; and reference to &ldquo;written&rdquo; or &ldquo;in writing&rdquo; shall include written, printed, photocopied,
typed, any electronic communication (including email, facsimile, signed electronically (in Adobe PDF, DocuSign or any other
format)) or produced by any visible substitute for writing, or partly one and partly another, and signed shall be construed
accordingly.</FONT></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-top: 0; margin-bottom: 0; margin-left: 0.5in; text-indent: 0in; text-align: justify">(c)
 &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The captions in these Articles are for convenience only and shall not be deemed a part hereof or affect the construction or interpretation
of any provision hereof.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0.5in; text-indent: 0in; text-align: justify">(d)
 &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The specific provisions of these Articles shall supersede the provisions of the Companies Law to the extent permitted thereunder.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-variant: small-caps"><B>Limited
Liability</B></FONT></P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 35.4pt">2.</TD><TD STYLE="text-align: justify; padding-right: 35.4pt">The Company is a limited liability company and each Shareholder&rsquo;s
liability for the Company&rsquo;s debts is therefore limited (in addition to any liabilities under any contract) to the payment
of the full amount (par value (if any) and premium) such Shareholder was required to pay the Company for such Shareholder&rsquo;s
Shares (as defined below) and which amount has not yet been paid by such Shareholder, subject to the provisions of the Companies
Law.</TD></TR></TABLE>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-variant: small-caps"><B>Company&rsquo;s
Objectives</B></FONT></P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 35.4pt">3.</TD><TD STYLE="text-align: justify"><FONT STYLE="font-variant: small-caps"><B><U>Objectives</U></B>. </FONT></TD></TR></TABLE>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 35.4pt; text-align: justify; text-indent: 0in">The Company&rsquo;s
objectives are to carry on any business, and do any act, which is not prohibited by law.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 35.4pt; text-align: justify; text-indent: 0in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 35.4pt">4.</TD><TD STYLE="text-align: justify"><FONT STYLE="font-variant: small-caps"><B><U>Donations</U></B></FONT>.</TD></TR></TABLE>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 35.4pt; text-align: justify; text-indent: 0in">The Company
may donate a reasonable amount of money (in cash or in kind, including the Company&rsquo;s securities) to worthy purposes, as the
Board of Directors may determine in its discretion, even if such donations are not made on the basis or within the scope of business
considerations of the Company.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 35.4pt; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-variant: small-caps"><B>Share
Capital</B></FONT></P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 35.4pt">5.</TD><TD STYLE="text-align: justify"><FONT STYLE="font-variant: small-caps"><B><U>Authorized Share Capital</U></B></FONT>.</TD></TR></TABLE>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0.5in; text-indent: 0in; text-align: justify">(a)
 &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The authorized share capital of the Company shall consist of 650,000,000 Ordinary Shares without par value (the &ldquo;<B>Shares</B>&rdquo;).</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0.5in; text-indent: 0in; text-align: justify">(b)
 &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Shares shall rank <I>pari passu</I> in all respects. The Shares may be redeemable to the extent set forth in Article &#8206;18.</P>

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

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

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 35.45pt">6.</TD><TD STYLE="text-align: justify"><FONT STYLE="font-variant: small-caps"><B><U>Increase of Authorized Share Capital</U></B></FONT>.</TD></TR></TABLE>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0.5in; text-indent: 0in; text-align: justify">(a)
 &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Company may, from time to time, by a Shareholders&rsquo; resolution, whether or not all of the shares then authorized have
been issued, and whether or not all of the shares theretofore issued have been called up for payment, increase its authorized
share capital by increasing the number of shares it is authorized to issue by such amount, and such additional shares shall confer
such rights and preferences, and shall be subject to such restrictions, as such resolution shall provide.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0.5in; text-indent: 0in; text-align: justify">(b)
 &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Except to the extent otherwise provided in such resolution, any new shares included in the authorized share capital increase as
aforesaid shall be subject to all of the provisions of these Articles that are applicable to shares that are included in the existing
share capital.</P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 35.45pt">7.</TD><TD STYLE="text-align: justify"><FONT STYLE="font-variant: small-caps"><B><U>Special or Class Rights; Modification of Rights</U></B></FONT>.</TD></TR></TABLE>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0.5in; text-indent: 0in; text-align: justify">(a)
 &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Company may, from time to time, by a Shareholders&rsquo; resolution, provide for shares with such preferred or deferred rights
or other special rights and/or such restrictions, whether in regard to dividends, voting, repayment of share capital or otherwise,
as may be stipulated in such resolution.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0.5in; text-indent: 0in; text-align: justify">(b)
 &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;If at any time the share capital of the Company is divided into different classes of shares, the rights attached to any class,
unless otherwise provided by these Articles, may be modified or cancelled by the Company by a resolution of the General Meeting
of the holders of all shares as one class, without any required separate resolution of any class of shares.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0.5in; text-indent: 0in; text-align: justify">(c)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
The provisions of these Articles relating to General Meetings shall apply, <I>mutatis mutandis</I>, to any separate General Meeting
of the holders of the shares of a particular class, it being clarified that the requisite quorum at any such separate General
Meeting shall be two or more Shareholders present in person or by proxy and holding not less than thirty-three and one-third percent
(33&#8531;%) of the issued shares of such class; provided, however, that if (i) such separate General Meeting of the holders of
the particular class was initiated by and convened pursuant to a resolution adopted by the Board of Directors and (ii) at the
time of such meeting the Company is a &ldquo;foreign private issuer&rdquo; under the US securities laws, then the requisite quorum
at any such separate General Meeting shall be two or more Shareholders present in person or by proxy and holding not less than
twenty five percent (25%) of the issued shares of such class.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0.5in; text-indent: 0in; text-align: justify">(d)
 &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Unless otherwise provided by these Articles, an increase in the authorized share capital, the creation of a new class of shares,
an increase in the authorized share capital of a class of shares, or the issuance of additional shares thereof out of the authorized
and unissued share capital, shall not be deemed, for purposes of this Article &#8206;7, to modify or derogate or cancel the rights
attached to previously issued shares of such class or of any other class.</P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 35.45pt">8.</TD><TD STYLE="text-align: justify"><FONT STYLE="font-variant: small-caps"><B><U>Consolidation, Division, Cancellation and Reduction
of Share Capital</U></B></FONT>.</TD></TR></TABLE>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0.5in; text-indent: 0in; text-align: justify">(a)
The Company may, from time to time, by or pursuant to an authorization of a Shareholders&rsquo; resolution, and subject to applicable
law:</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0in">(i)<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>consolidate all or any part of its issued or unissued authorized share capital;</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0in">(ii)<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>divide or sub-divide its shares (issued or unissued) or any of them and the resolution whereby any share is divided may
determine that, as among the holders of the shares resulting from such subdivision, one or more of the shares may, in contrast
to others, have any such preferred or deferred rights or rights of redemption or other special rights, or be subject to any such
restrictions, as the Company may attach to unissued or new shares;</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0in">(iii)<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>cancel any authorized shares which, at the date of the adoption of such resolution, have not been issued to any person nor
has the Company made any commitment, including a conditional commitment, to issue such shares, and reduce the amount of its share
capital by the amount of the shares so canceled; or</P>

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




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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0in">(iv)<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT> reduce its share capital in any manner.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0.5in; text-indent: 0in; text-align: justify">(b)
 &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;With respect to any consolidation of issued shares and with respect to any other action which may result in fractional shares,
the Board of Directors may settle any difficulty which may arise with regard thereto, as it deems fit, and, in connection with
any such consolidation or other action which could result in fractional shares, may, without limiting its aforesaid power:</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0in">(i)<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>determine, as to the holder of shares so consolidated, which issued shares shall be consolidated;</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0in">(ii)<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>issue, in contemplation of or subsequent to such consolidation or other action, shares sufficient to preclude or remove
fractional share holdings;</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0in">(iii)<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>redeem such shares or fractional shares sufficient to preclude or remove fractional share holdings;</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0in">(iv)<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>round up, round down or round to the nearest whole number, any fractional shares resulting from the consolidation or from
any other action which may result in fractional shares; or</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0in">(v)<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>cause the transfer of fractional shares by certain Shareholders of the Company to other Shareholders thereof so as to most
expediently preclude or remove any fractional shareholdings, and cause the transferees of such fractional shares to pay the transferors
thereof the fair value thereof, and the Board of Directors is hereby authorized to act in connection with such transfer, as agent
for the transferors and transferees of any such fractional shares, with full power of substitution, for the purposes of implementing
the provisions of this sub-Article&nbsp;&#8206;8&#8206;(b)&#8206;(v).</P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 35.45pt">9.</TD><TD STYLE="text-align: justify"><FONT STYLE="font-variant: small-caps"><B><U>Issuance of Share Certificates, Replacement of Lost
Certificates</U></B></FONT>.</TD></TR></TABLE>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0.5in; text-indent: 0in; text-align: justify">(a)
 &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;To the extent that the Board of Directors determines that all shares shall be certificated or, if the Board of Directors does
not so determine, to the extent that any Shareholder requests a share certificate or the Company&rsquo;s transfer agent so requires,
share certificates shall be issued under the corporate seal of the Company or its written, typed or stamped name and shall bear
the signature of one Director, the Company&rsquo;s Chief Executive Officer, or any person or persons authorized therefor by the
Board of Directors. Signatures may be affixed in any mechanical or electronic form, as the Board of Directors may prescribe.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0.5in; text-indent: 0in; text-align: justify">(b)
 &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Subject to the provisions of Article <FONT STYLE="font-family: Times New Roman, Times, Serif">&#8206;</FONT>9<FONT STYLE="font-family: Times New Roman, Times, Serif">&#8206;</FONT>(a),
each Shareholder shall be entitled to one numbered certificate for all of the shares of any class registered in his or her name.
Each certificate shall specify the serial numbers of the shares represented thereby and may also specify the amount paid up thereon.
The Company (as determined by an officer of the Company to be designated by the Chief Executive Officer) shall not refuse a request
by a Shareholder to obtain several certificates in place of one certificate, unless such request is, in the opinion of such officer,
unreasonable. Where a Shareholder has sold or transferred a portion of such Shareholder&rsquo;s shares, such Shareholder shall
be entitled to receive a certificate in respect of such Shareholder&rsquo;s remaining shares, provided that the previous certificate
is delivered to the Company before the issuance of a new certificate.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0.5in; text-indent: 0in; text-align: justify">(c)
 &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;A share certificate registered in the names of two or more persons shall be issued to the person first named in the Register of
Shareholders in respect of such co-ownership.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0.5in; text-indent: 0in; text-align: justify">(d)
 &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;A share certificate which has been defaced, lost or destroyed, may be replaced, and the Company shall issue a new certificate
to replace such defaced, lost or destroyed certificate upon payment of such fee, and upon the furnishing of such evidence of ownership
and such indemnity, as the Board of Directors in its discretion deems fit.</P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 35.45pt">10.</TD><TD STYLE="text-align: justify"><FONT STYLE="font-variant: small-caps"><B><U>Registered Holder</U></B></FONT>.</TD></TR></TABLE>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 35.45pt; text-align: justify">Except as otherwise
provided in these Articles or the Companies Law, the Company shall be entitled to treat the registered holder of each share
as the absolute owner thereof, and accordingly, shall not, except as ordered by a court of competent jurisdiction, or as
required by the Companies Law, be obligated to recognize any equitable or other claim to, or interest in, such share on the
part of any other person.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 35.45pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 35.45pt; text-align: justify"></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 0pt 35.45pt; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 35.45pt">11.</TD><TD STYLE="text-align: justify"><FONT STYLE="font-variant: small-caps"><B><U>Issuance and Repurchase of Shares</U></B></FONT>.</TD></TR></TABLE>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0.5in; text-indent: 0in; text-align: justify">(a)
 &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The unissued shares from time to time shall be under the control of the Board of Directors (and, to the extent permitted by law,
any Committee thereof), which shall have the power to issue or otherwise dispose of shares and of securities convertible or exercisable
into or other rights to acquire from the Company to such persons, on such terms and conditions (including, inter alia, price,
with or without premium, discount or commission, and terms relating to calls set forth in Article &#8206;13(f) hereof), and at
such times, as the Board of Directors (or the Committee, as the case may be) deems fit, and the power to give to any person the
option to acquire from the Company any shares or securities convertible or exercisable into or other rights to acquire from the
Company on such terms and conditions (including, inter alia, price, with or without premium, discount or commission), during such
time as the Board of Directors (or the Committee, as the case may be) deems fit.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0.5in; text-indent: 0in; text-align: justify">(b)
 &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Company may at any time and from time to time, subject to the Companies Law, repurchase or finance the purchase of any shares
or other securities issued by the Company, in such manner and under such terms as the Board of Directors shall determine, whether
from any one or more Shareholders. Such purchase shall not be deemed as payment of dividends and as such, no Shareholder will
have the right to require the Company to purchase his or her shares or offer to purchase shares from any other Shareholders.</P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 35.45pt">12.</TD><TD STYLE="text-align: justify"><FONT STYLE="font-variant: small-caps"><B><U>Payment in Installment</U></B></FONT>.</TD></TR></TABLE>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 35.4pt; text-align: justify; text-indent: 0in">If pursuant
to the terms of issuance of any share, all or any portion of the price thereof shall be payable in installments, every such installment
shall be paid to the Company on the due date thereof by the then registered holder(s) of the share or the person(s) then entitled
thereto.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 35.4pt; text-align: justify; text-indent: 0in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 35.45pt">13.</TD><TD STYLE="text-align: justify"><FONT STYLE="font-variant: small-caps"><B><U>Calls on Shares</U></B></FONT>.</TD></TR></TABLE>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0.5in; text-indent: 0in; text-align: justify">(a)
 &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Board of Directors may, from time to time, as it, in its discretion, deems fit, make calls for payment upon Shareholders in
respect of any sum (including premium) which has not been paid up in respect of shares held by such Shareholders and which is
not, pursuant to the terms of issuance of such shares or otherwise, payable at a fixed time, and each Shareholder shall pay the
amount of every call so made upon him or her (and of each installment thereof if the same is payable in installments), to the
person(s) and at the time(s) and place(s) designated by the Board of Directors, as any such times may be thereafter extended and/or
such person(s) or place(s) changed. Unless otherwise stipulated in the resolution of the Board of Directors (and in the notice
hereafter referred to), each payment in response to a call shall be deemed to constitute a pro rata payment on account of all
the shares in respect of which such call was made.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0.5in; text-indent: 0in; text-align: justify">(b)
 &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Notice of any call for payment by a shareholder shall be given in writing to such shareholder not less than fourteen (14) days
prior to the time of payment fixed in such notice, and shall specify the time and place of payment, and the person to whom such
payment is to be made. Prior to the time for any such payment fixed in a notice of a call given to a shareholder, the Board of
Directors may in its absolute discretion, by notice in writing to such shareholder, revoke such call in whole or in part, extend
the time fixed for payment thereof, or designate a different place of payment or person to whom payment is to be made. In the
event of a call payable in installments, only one notice thereof need be given.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0.5in; text-indent: 0in; text-align: justify">(c)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
If pursuant to the terms of issuance of a share or otherwise, an amount is made payable at a fixed time, such amount shall be
payable at such time as if it were payable by virtue of a call made by the Board of Directors and for which notice was given in
accordance with paragraphs &#8206;(a) and &#8206;(b) of this Article &#8206;13, and the provision of these Articles with regard
to calls (and the non-payment thereof) shall be applicable to such amount or such installment (and the non-payment thereof).</P>

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




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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0.5in; text-indent: 0in; text-align: justify">(d)
 &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Joint holders of a share shall be jointly and severally liable to pay all calls for payment in respect of such share and all interest
payable thereon.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0.5in; text-indent: 0in; text-align: justify">(e)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Any amount called for payment which is not paid when due shall bear interest from the date fixed for payment until actual payment
thereof, at such rate (not exceeding the then prevailing debitory rate charged by leading commercial banks in Israel), and payable
at such time(s) as the Board of Directors may prescribe.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0.5in; text-indent: 0in; text-align: justify">(f)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Upon the issuance of shares, the Board of Directors may provide for differences among the holders of such shares as to the amounts
and times for payment of calls for payment in respect of such shares.</P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 35.45pt">14.</TD><TD STYLE="text-align: justify"><FONT STYLE="font-variant: small-caps"><B><U>Prepayment</U></B></FONT>.</TD></TR></TABLE>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 35.45pt; text-align: justify">With the approval of the Board
of Directors, any shareholder may pay to the Company any amount not yet payable in respect of his or her shares, and the Board
of Directors may approve the payment by the Company of interest on any such amount until the same would be payable if it had not
been paid in advance, at such rate and time(s) as may be approved by the Board of Directors. The Board of Directors may at any
time cause the Company to repay all or any part of the money so advanced, without premium or penalty. Nothing in this Article &#8206;14
shall derogate from the right of the Board of Directors to make any call for payment before or after receipt by the Company of
any such advance.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 35.45pt; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 35.45pt">15.</TD><TD STYLE="text-align: justify"><FONT STYLE="font-variant: small-caps"><B><U>Forfeiture and Surrender</U></B></FONT>.</TD></TR></TABLE>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0.5in; text-indent: 0in; text-align: justify">(a)
 &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;If any shareholder fails to pay an amount payable by virtue of a call, installment or interest thereon as provided for in accordance
herewith, on or before the day fixed for payment of the same, the Board of Directors may at any time after the day fixed for such
payment, so long as such amount (or any portion thereof) or interest thereon (or any portion thereof) remains unpaid, forfeit
all or any of the shares in respect of which such payment was called for. All expenses incurred by the Company in attempting to
collect any such amount or interest thereon, including, without limitation, attorneys&rsquo; fees and costs of legal proceedings,
shall be added to, and shall, for all purposes (including the accrual of interest thereon) constitute a part of, the amount payable
to the Company in respect of such call.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0.5in; text-indent: 0in; text-align: justify">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Upon the adoption of a resolution as to the forfeiture of a Shareholder&rsquo;s share, the Board of Directors shall cause notice
thereof to be given to such shareholder, which notice shall state that, in the event of the failure to pay the entire amount so
payable by a date specified in the notice (which date shall be not less than fourteen (14) days after the date such notice is
given and which may be extended by the Board of Directors), such shares shall be ipso facto forfeited, provided, however, that,
prior to such date, the Board of Directors may cancel such resolution of forfeiture, but no such cancellation shall stop the Board
of Directors from adopting a further resolution of forfeiture in respect of the non-payment of the same amount.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0.5in; text-indent: 0in; text-align: justify">(c)
 &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Without derogating from Articles &#8206;51 and &#8206;55 hereof, whenever shares are forfeited as herein provided, all dividends,
if any, theretofore declared in respect thereof and not actually paid shall be deemed to have been forfeited at the same time.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0.5in; text-indent: 0in; text-align: justify">(d)
 &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Company, by resolution of the Board of Directors, may accept the voluntary surrender of any share.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0.5in; text-indent: 0in; text-align: justify">(e)
 &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Any share forfeited or surrendered as provided herein, shall become the property of the Company as a dormant share, and the same,
subject to the provisions of these Articles, may be sold, re-issued or otherwise disposed of as the Board of Directors deems fit.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0.5in; text-indent: 0in; text-align: justify">(f)
 &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Any person whose shares have been forfeited or surrendered shall cease to be a shareholder in respect of the forfeited or
surrendered shares, but shall, notwithstanding, be liable to pay, and shall forthwith pay, to the Company, all calls,
interest and expenses owing upon or in respect of such shares at the time of forfeiture or surrender, together with interest
thereon from the time of forfeiture or surrender until actual payment, at the rate prescribed in Article &#8206;13(e) above,
and the Board of Directors, in its discretion, may, but shall not be obligated to, enforce or collect the payment of such
amounts, or any part thereof, as it shall deem fit. In the event of such forfeiture or surrender, the Company, by resolution
of the Board of Directors, may accelerate the date(s) of payment of any or all amounts then owing to the Company by the
person in question (but not yet due) in respect of all shares owned by such shareholder, solely or jointly with another.</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-top: 0; margin-bottom: 0; margin-left: 0.5in; text-indent: 0in; text-align: justify">(g)
 &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Board of Directors may at any time, before any share so forfeited or surrendered shall have been sold, re-issued or otherwise
disposed of, nullify the forfeiture or surrender on such conditions as it deems fit, but no such nullification shall stop the
Board of Directors from re-exercising its powers of forfeiture pursuant to this Article &#8206;15.</P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 35.45pt">16.</TD><TD STYLE="text-align: justify"><FONT STYLE="font-variant: small-caps"><B><U>Lien</U></B></FONT>.</TD></TR></TABLE>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0.5in; text-indent: 0in; text-align: justify">(a)
 &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Except to the extent the same may be waived or subordinated in writing, the Company shall have a first and paramount lien upon
all the shares registered in the name of each shareholder (without regard to any equitable or other claim or interest in such
shares on the part of any other person), and upon the proceeds of the sale thereof, for his or her debts, liabilities and engagements
to the Company arising from any amount payable by such shareholder in respect of any unpaid or partly paid share, whether or not
such debt, liability or engagement has matured. Such lien shall extend to all dividends from time to time declared or paid in
respect of such share. Unless otherwise provided, the registration by the Company of a transfer of shares shall be deemed to be
a waiver on the part of the Company of the lien (if any) existing on such shares immediately prior to such transfer.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0.5in; text-indent: 0in; text-align: justify">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
The Board of Directors may cause the Company to sell a share subject to such a lien when the debt, liability or engagement giving
rise to such lien has matured, in such manner as the Board of Directors deems fit, but no such sale shall be made unless such
debt, liability or engagement has not been satisfied within fourteen (14) days after written notice of the intention to sell shall
have been served on such shareholder, his or her executors or administrators.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0.5in; text-indent: 0in; text-align: justify">(c)
 &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The net proceeds of any such sale, after payment of the costs and expenses thereof or ancillary thereto, shall be applied in or
toward satisfaction of the debts, liabilities or engagements of such shareholder in respect of such share (whether or not the
same have matured), and the remaining proceeds (if any) shall be paid to the shareholder, his or her executors, administrators
or assigns.</P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 35.45pt">17.</TD><TD STYLE="text-align: justify"><FONT STYLE="font-variant: small-caps"><B><U>Sale After Forfeiture or Surrender or For Enforcement
of Lien</U></B></FONT>.</TD></TR></TABLE>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0.5in; text-indent: 0in; text-align: justify">Upon
any sale of a share after forfeiture or surrender or for enforcing a lien, the Board of Directors may appoint any person to execute
an instrument of transfer of the share so sold and cause the purchaser&rsquo;s name to be entered in the Register of Shareholders
in respect of such share. The purchaser shall be registered as the shareholder and shall not be bound to see to the regularity
of the sale proceedings, or to the application of the proceeds of such sale, and after his or her name has been entered in the
Register of Shareholders in respect of such share, the validity of the sale shall not be impeached by any person, and the remedy
of any person aggrieved by the sale shall be in damages only and against the Company exclusively.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 35.45pt; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 35.45pt">18.</TD><TD STYLE="text-align: justify"><FONT STYLE="font-variant: small-caps"><B><U>Redeemable Shares</U></B></FONT>.</TD></TR></TABLE>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 35.45pt; text-align: justify">The Company may, subject to
applicable law, issue redeemable shares or other securities and redeem the same upon terms and conditions to be set forth in a
written agreement between the Company and the holder of such shares or in their terms of issuance.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 35.45pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-variant: small-caps"><B>Transfer
of Shares</B></FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 35.45pt">19.</TD><TD STYLE="text-align: justify"><FONT STYLE="font-variant: small-caps"><B><U>Registration of Transfer</U></B></FONT>.</TD></TR></TABLE>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 35.45pt; text-align: justify; text-indent: -0.05pt">No
transfer of shares shall be registered unless a proper writing or instrument of transfer (in any customary form or any other
form satisfactory to the Board of Directors or an officer of the Company to be designated by the Chief Executive Officer) has
been submitted to the Company (or its transfer agent), together with any share certificate(s) and such other evidence of
title as the Board of Directors or an officer of the Company to be designated by the Chief Executive Officer may require.
Notwithstanding anything to the contrary herein, shares registered in the name of The Depository Trust Company or its nominee
shall be transferrable in accordance with the policies and procedures of The Depository Trust Company. Until the transferee
has been registered in the Register of Shareholders in respect of the shares so transferred, the Company may continue to
regard the transferor as the owner thereof. The Board of Directors, may, from time to time, prescribe a fee for the
registration of a transfer, and may approve other methods of recognizing the transfer of shares in order to facilitate the
trading of the Company&rsquo;s shares on the Nasdaq Stock Market or on any other stock exchange on which the Company&rsquo;s
shares are then listed for trading.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 35.45pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 35.45pt; text-align: justify"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 35.45pt; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 35.45pt">20.</TD><TD STYLE="text-align: justify"><FONT STYLE="font-variant: small-caps"><B><U>Suspension of Registration</U></B></FONT>.</TD></TR></TABLE>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 35.45pt; text-align: justify">The Board of Directors may,
in its discretion to the extent it deems necessary, close the Register of Shareholders of registration of transfers of shares for
a period determined by the Board of Directors, and no registrations of transfers of shares shall be made by the Company during
any such period during which the Register of Shareholders is so closed.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 35.45pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-variant: small-caps"><B>Transmission
of Shares</B></FONT></P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 35.4pt">21.</TD><TD STYLE="text-align: justify"><FONT STYLE="font-variant: small-caps"><B><U>Decedents&rsquo; Shares</U></B></FONT>.</TD></TR></TABLE>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 35.45pt; text-align: justify">Upon the death of a Shareholder,
the Company shall recognize the custodian or administrator of the estate or executor of the will, and in the absence of such, the
lawful heirs of the Shareholder, as the only holders of the right for the shares of the deceased Shareholder, after receipt of
evidence to the entitlement thereto, as determined by the Board of Directors or an officer of the Company to be designated by the
Chief Executive Officer.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 35.45pt; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 35.45pt">22.</TD><TD STYLE="text-align: justify"><FONT STYLE="font-variant: small-caps"><B><U>Receivers and Liquidators</U></B></FONT>.</TD></TR></TABLE>

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

<P STYLE="margin: 0pt 0 0pt 35.45pt; font: 10pt Times New Roman, Times, Serif; text-align: justify">(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Company may recognize any receiver, liquidator or similar official appointed to wind-up, dissolve or otherwise liquidate a
corporate Shareholder, and a trustee, manager, receiver, liquidator or similar official appointed in bankruptcy or in connection
with the reorganization of, or similar proceeding with respect to a Shareholder or its properties, as being entitled to the shares
registered in the name of such Shareholder.</P>

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

<P STYLE="margin: 0pt 0 0pt 35.45pt; font: 10pt Times New Roman, Times, Serif; text-align: justify">(b)
 &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Such receiver, liquidator or similar official appointed to wind-up, dissolve or otherwise liquidate a corporate Shareholder and
such trustee, manager, receiver, liquidator or similar official appointed in bankruptcy or in connection with the reorganization
of, or similar proceedings with respect to a Shareholder or its properties, upon producing such evidence as the Board of Directors
(or an officer of the Company to be designated by the Chief Executive Officer) may deem sufficient as to his or her authority
to act in such capacity or under this Article, shall with the consent of the Board of Directors or an officer of the Company to
be designated by the Chief Executive Officer (which the Board of Directors or such officer may grant or refuse in its absolute
discretion), be registered as a Shareholder in respect of such shares, or may, subject to the regulations as to transfer herein
contained, transfer such shares.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 35.45pt; text-align: center"><FONT STYLE="font-variant: small-caps"><B>General
Meetings</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 35.45pt; text-align: center">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 35.4pt">23.</TD><TD STYLE="text-align: justify"><FONT STYLE="font-variant: small-caps"><B><U>General Meetings</U></B></FONT>.</TD></TR></TABLE>

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

<P STYLE="margin: 0pt 0 0pt 35.45pt; font: 10pt Times New Roman, Times, Serif; text-align: justify">(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
An annual General Meeting (&ldquo;<B>Annual General Meeting</B>&rdquo;) shall be held at such time and at such place, either within
or outside of the State of Israel, as may be determined by the Board of Directors.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 35.45pt; text-align: justify">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
All General Meetings other than Annual General Meetings shall be called &ldquo;<B>Special General Meetings</B>&rdquo;. The Board
of Directors may, at its discretion, convene a Special General Meeting at such time and place, within or outside of the State
of Israel, as may be determined by the Board of Directors.</P>

<P STYLE="margin: 0pt 0 0pt 35.45pt; font: 10pt Times New Roman, Times, Serif; text-align: justify">&nbsp;</P>

<P STYLE="margin: 0pt 0 0pt 35.45pt; font: 10pt Times New Roman, Times, Serif; text-align: justify">(c)
 &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;If so determined by the Board of Directors, an Annual
General Meeting or a Special General Meeting may be held through the use of any means of communication approved by the Board
of Directors, provided all of the participating Shareholders can hear each other simultaneously. A resolution approved by use
of means of communications as aforesaid, shall be deemed to be a resolution lawfully adopted at such general meeting and a
Shareholder shall be deemed present in person at such general meeting if attending such meeting through the means of
communication used at such meeting.</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>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 35.45pt">24.</TD><TD STYLE="text-align: justify"><FONT STYLE="font-variant: small-caps"><B><U>Record Date for General Meeting</U></B></FONT>.</TD></TR></TABLE>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 35.4pt; text-align: justify; text-indent: 0in">Notwithstanding
any provision of these Articles to the contrary, and to allow the Company to determine the Shareholders entitled to notice of or
to vote at any General Meeting or any adjournment thereof, or entitled to receive payment of any dividend or other distribution
or grant of any rights, or entitled to exercise any rights in respect of or to take or be the subject of any other action, the
Board of Directors may fix a record date for the General Meeting, which shall not be more than the maximum period and not less
than the minimum period permitted by law. A determination of Shareholders of record entitled to notice of or to vote at a General
Meeting shall apply to any adjournment of the meeting; <U>provided</U>, <U>however</U>, that the Board of Directors may fix a new
record date for the adjourned meeting.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 35.4pt; text-align: justify; text-indent: 0in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 35.45pt">25.</TD><TD STYLE="text-align: justify"><FONT STYLE="font-variant: small-caps"><B><U>Shareholder Proposal Request</U></B></FONT>.</TD></TR></TABLE>

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

<P STYLE="margin: 0pt 0 0pt 35.4pt; font: 10pt Times New Roman, Times, Serif; text-indent: 0in; text-align: justify">(a)
 &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Any Shareholder or Shareholders of the Company holding at least the required percentage under the Companies Law of the voting
rights of the Company which entitles such Shareholder(s) to require the Company to include a matter on the agenda of a
General Meeting (the &ldquo;<B>Proposing Shareholder(s)</B>&rdquo;) may request, subject to the Companies Law, that the Board
of Directors include a matter on the agenda of a General Meeting to be held in the future, provided that the Board of
Directors determines that the matter is appropriate to be considered at a General Meeting (a &ldquo;<B>Proposal
Request</B>&rdquo;). In order for the Board of Directors to consider a Proposal Request and whether to include the matter
stated therein in the agenda of a General Meeting, notice of the Proposal Request must be timely delivered in accordance with
applicable law, and the Proposal Request must comply with the requirements of these Articles (including this Article
 &#8206;25) and any applicable law and stock exchange rules and regulations. The Proposal Request must be in writing, signed
by all of the Proposing Shareholder(s) making such request, delivered, either in person or by registered mail, postage
prepaid, and received by the Secretary (or, in the absence thereof, by the Chief Executive Officer of the Company). To be
considered timely, a Proposal Request must be received within the time periods prescribed by applicable law. The announcement
of an adjournment or postponement of a General Meeting shall not commence a new time period (or extend any time period) for
the delivery of a Proposal Request as described above. In addition to any information required to be included in accordance
with applicable law, a Proposal Request must include the following: (i) the name, address, telephone number, fax number and
email address of the Proposing Shareholder (or each Proposing Shareholder, as the case may be) and, if an entity, the name(s)
of the person(s) that controls or manages such entity; (ii) the number of Shares held by the Proposing Shareholder(s),
directly or indirectly (and, if any of such Shares are held indirectly, an explanation of how they are held and by whom),
which shall be in such number no less than as is required to qualify as a Proposing Shareholder, accompanied by evidence
satisfactory to the Company of the record holding of such Shares by the Proposing Shareholder(s) as of the date of the
Proposal Request; (iii) the matter requested to be included on the agenda of a General Meeting, all information related to
such matter, the reason that such matter is proposed to be brought before the General Meeting, the complete text of the
resolution that the Proposing Shareholder proposes to be voted upon at the General Meeting, and a representation that the
Proposing Shareholder(s) intend to appear in person or by proxy at the meeting; (iv) a description of all arrangements or
understandings between the Proposing Shareholders and any other Person(s) (naming such Person or Persons) in connection with
the matter that is requested to be included on the agenda and a declaration signed by all Proposing Shareholder(s) of whether
any of them has a personal interest in the matter and, if so, a description in reasonable detail of such personal interest;
(v) a description of all Derivative Transactions (as defined below) by each Proposing Shareholder(s) during the previous
twelve (12) month period, including the date of the transactions and the class, series and number of securities involved in,
and the material economic terms of, such Derivative Transactions; and (vi) a declaration that all of the information that is
required under the Companies Law and any other applicable law <FONT STYLE="font-size: 10pt">and stock exchange rules and
regulations to be provided to the Company in connection with such matter, if any, has been provided to the Company. The Board
of Directors, may, in its discretion, to the extent it deems necessary, request that the Proposing Shareholder(s) provide
additional information necessary so as to include a matter in the agenda of a General Meeting, as the Board of Directors may
reasonably require. </FONT></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 35.45pt; text-align: justify; text-indent: 0in">A &ldquo;<B>Derivative
Transaction</B>&rdquo; means any agreement, arrangement, interest or understanding entered into by, or on behalf or for the benefit
of, any Proposing Shareholder or any of its affiliates or associates, whether of record or beneficial: (1) the value of which is
derived in whole or in part from the value of any class or series of shares or other securities of the Company, (2) which otherwise
provides any direct or indirect opportunity to gain or share in any gain derived from a change in the value of securities of the
Company, (3) the effect or intent of which is to mitigate loss, manage risk or benefit of security value or price changes, or (4)
which provides the right to vote or increase or decrease the voting power of, such Proposing Shareholder, or any of its affiliates
or associates, with respect to any shares or other securities of the Company, which agreement, arrangement, interest or understanding
may include, without limitation, any option, warrant, debt position, note, bond, convertible security, swap, stock appreciation
right, short position, profit interest, hedge, right to dividends, voting agreement, performance-related fee or arrangement to
borrow or lend shares (whether or not subject to payment, settlement, exercise or conversion in any such class or series), and
any proportionate interest of such Proposing Shareholder in the securities of the Company held by any general or limited partnership,
or any limited liability company, of which such Proposing Shareholder is, directly or indirectly, a general partner or managing
member.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 35.45pt; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="margin: 0pt 0 0pt 35.45pt; font: 10pt Times New Roman, Times, Serif; text-indent: 0in; text-align: justify">(b)
 &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The information required pursuant to this Article shall be updated as of (i) the record date of the General Meeting, (ii) five
business days before the General Meeting, and (iii) as of the General Meeting, and any adjournment or postponement thereof.</P>

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

<P STYLE="margin: 0pt 0 0pt 35.45pt; font: 10pt Times New Roman, Times, Serif; text-indent: 0in; text-align: justify">(c)
 &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The provisions of Articles &#8206;25(a) and &#8206;25(b) shall apply, <I>mutatis mutandis,</I> on any matter to be included on
the agenda of a Special General Meeting which is convened pursuant to a request of a Shareholder duly delivered to the Company
in accordance with the Companies Law.</P>

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

<P STYLE="margin: 0pt 0 0pt 35.45pt; font: 10pt Times New Roman, Times, Serif; text-indent: 0in; text-align: justify">(d)
 &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Notwithstanding anything to the contrary herein, this Article <FONT STYLE="font-family: Times New Roman, Times, Serif">&#8206;</FONT>25
may only be amended, replaced or suspended by a resolution adopted at a General Meeting by a supermajority of at least 65% of
the total voting power of the Shareholders.</P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 35.45pt">26.</TD><TD STYLE="text-align: justify"><FONT STYLE="font-variant: small-caps"><B><U>Notice of General Meetings; Omission to Give Notice</U></B></FONT>.</TD></TR></TABLE>

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

<P STYLE="margin: 0pt 0 0pt 35.45pt; font: 10pt Times New Roman, Times, Serif; text-indent: 0in; text-align: justify">(a)
 &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Company is not required to give notice of a General Meeting, subject to any mandatory provision of the Companies Law.</P>

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

<P STYLE="margin: 0pt 0 0pt 35.45pt; font: 10pt Times New Roman, Times, Serif; text-indent: 0in; text-align: justify">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
The accidental omission to give notice of a General Meeting to any Shareholder, or the non-receipt of notice sent to such Shareholder,
shall not invalidate the proceedings at such meeting or any resolution adopted thereat.</P>

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

<P STYLE="margin: 0pt 0 0pt 35.45pt; font: 10pt Times New Roman, Times, Serif; text-indent: 0in; text-align: justify">(c)
 &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;No Shareholder present, in person or by proxy, at any time during a General Meeting shall be entitled to seek the cancellation
or invalidation of any proceedings or resolutions adopted at such General Meeting on account of any defect in the notice of such
meeting relating to the time or the place thereof, or any item acted upon at such meeting.</P>

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

<P STYLE="margin: 0pt 0 0pt 35.45pt; font: 10pt Times New Roman, Times, Serif; text-indent: 0in; text-align: justify">(d)
 &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;In addition to any places at which the Company may make available for review by Shareholders the full text of the proposed resolutions
to be adopted at a General Meeting, as required by the Companies Law, the Company may add additional places for Shareholders to
review such proposed resolutions, including an internet site.</P>

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

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

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




<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-variant: small-caps"><B>Proceedings
at General Meetings</B></FONT></P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 35.4pt">27.</TD><TD STYLE="text-align: justify"><FONT STYLE="font-variant: small-caps"><B><U>Quorum</U></B></FONT>.</TD></TR></TABLE>

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

<P STYLE="margin: 0pt 0 0pt 35.45pt; font: 10pt Times New Roman, Times, Serif; text-indent: 0in; text-align: justify">(a)
 &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;No business shall be transacted at a General Meeting, or at any adjournment thereof, unless the quorum required under these Articles
for such General Meeting or such adjourned meeting, as the case may be, is present when the meeting proceeds to business.</P>

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

<P STYLE="margin: 0pt 0 0pt 35.45pt; font: 10pt Times New Roman, Times, Serif; text-indent: 0in; text-align: justify">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
In the absence of contrary provisions in these Articles, the requisite quorum for any General Meeting shall be two or more Shareholders
(not in default in payment of any sum referred to in Article &#8206;13 hereof) present in person or by proxy and holding shares
conferring in the aggregate at least thirty-three and one-third percent (33&#8531;%) of the voting power of the Company; provided,
however, that if (i) any such General Meeting was initiated by and convened pursuant to a resolution adopted by the Board of Directors
and (ii) at the time of such General Meeting the Company is a &ldquo;foreign private issuer&rdquo; under the US securities laws,
then the requisite quorum shall be two or more Shareholders (not in default in payment of any sum referred to in Article &#8206;13
hereof) present in person or by proxy and holding shares conferring in the aggregate at least twenty five percent (25%) of the
voting power of the Company. A proxy may be deemed to be two (2) or more Shareholders pursuant to the number of Shareholders represented
by the proxy holder.</P>

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

<P STYLE="margin: 0pt 0 0pt 35.45pt; font: 10pt Times New Roman, Times, Serif; text-align: justify">(c)
 &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;If within half an hour from the time appointed for the meeting a quorum is not present, then without any further notice the meeting
shall be adjourned either (i) to the same day in the next week, at the same time and place, (ii) to such day and at such time
and place as indicated in the notice of such meeting, or (iii) to such day and at such time and place as the Chairperson of the
General Meeting shall determine (which may be earlier or later than the date pursuant to clause (i) above). No business shall
be transacted at any adjourned meeting except business which might lawfully have been transacted at the meeting as originally
called. At such adjourned meeting, if the original meeting was convened upon request under Section 63 of the Companies Law, one
or more shareholders, present in person or by proxy, and holding the number of shares required for making such request, shall
constitute a quorum, but in any other case any shareholder (not in default as aforesaid) present in person or by proxy, shall
constitute a quorum.</P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 35.4pt">28.</TD><TD STYLE="text-align: justify"><FONT STYLE="font-variant: small-caps"><B><U>Chairperson of General Meeting</U></B>. </FONT></TD></TR></TABLE>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 35.45pt; text-align: justify">The Chairperson of the Board
of Directors shall preside as Chairperson of every General Meeting of the Company. If at any meeting the Chairperson is not present
within fifteen (15) minutes after the time fixed for holding the meeting or is unwilling or unable to act as Chairperson, any of
the following may preside as Chairperson of the meeting (and in the following order): a Director designated by the Board of Directors,
the Chief Executive Officer, the Chief Financial Officer, the General Counsel, the Secretary or any person designated by any of
the foregoing. If at any such meeting none of the foregoing persons is present or all are unwilling or unable to act as Chairperson,
the Shareholders present (in person or by proxy) shall choose a Shareholder or its proxy present at the meeting to be Chairperson.
The office of Chairperson shall not, by itself, entitle the holder thereof to vote at any General Meeting nor shall it entitle
such holder to a second or casting vote (without derogating, however, from the rights of such Chairperson to vote as a Shareholder
or proxy of a Shareholder if, in fact, he is also a Shareholder or such proxy).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 35.45pt; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 35.45pt">29.</TD><TD STYLE="text-align: justify"><FONT STYLE="font-variant: small-caps"><B><U>Adoption of Resolutions at General Meetings</U></B></FONT>.</TD></TR></TABLE>

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

<P STYLE="margin: 0pt 0 0pt 35.45pt; font: 10pt Times New Roman, Times, Serif; text-align: justify">(a)
 &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Except as required by the Companies Law or these Articles, including, without limitation, Article &#8206;39 below, a
resolution of the Shareholders shall be adopted if approved by the holders of a simple majority of the voting power
represented at the General Meeting in person or by proxy and voting thereon, as one class, and disregarding abstentions from
the count of the voting power present and voting. Without limiting the generality of the foregoing, a resolution with respect
to a matter or action for which the Companies Law prescribes a higher majority or pursuant to which a provision requiring a
higher majority would have been deemed to have been incorporated into these Articles, but for which the Companies Law allows
these Articles to provide otherwise (including, Sections 327 and 24 of the Companies Law), shall be adopted by a simple
majority of the voting power represented at the General Meeting in person or by proxy and voting thereon, as one class, and
disregarding abstentions from the count of the voting power present and voting.</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="margin: 0pt 0 0pt 35.45pt; font: 10pt Times New Roman, Times, Serif; text-align: justify">(b)
 &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Every question submitted to a General Meeting shall be decided by a show of hands, but the Chairperson of the General Meeting
may determine that a resolution shall be decided by a written ballot. A written ballot may be implemented before the proposed
resolution is voted upon or immediately after the declaration by the Chairperson of the results of the vote by a show of hands.
If a vote by written ballot is taken after such declaration, the results of the vote by a show of hands shall be of no effect,
and the proposed resolution shall be decided by such written ballot.</P>

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

<P STYLE="margin: 0pt 0 0pt 35.45pt; font: 10pt Times New Roman, Times, Serif; text-align: justify">(c)
 &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;A defect in convening or conducting a General Meeting, including a defect resulting from the non-fulfillment of any provision
or condition set forth in the Companies Law or these Articles, including with regard to the manner of convening or conducting
the General Meeting, shall not disqualify any resolution passed at the General Meeting and shall not affect the discussions or
decisions which took place thereat.</P>

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

<P STYLE="margin: 0pt 0 0pt 35.45pt; font: 10pt Times New Roman, Times, Serif; text-align: justify">(d)
 &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;A declaration by the Chairperson of the General Meeting that a resolution has been carried unanimously, or carried by a particular
majority, or rejected, and an entry to that effect in the minute book of the Company, shall be prima facie evidence of the fact
without proof of the number or proportion of the votes recorded in favor of or against such resolution.</P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 35.45pt">30.</TD><TD STYLE="text-align: justify"><FONT STYLE="font-variant: small-caps"><B><U>Power to Adjourn</U></B></FONT>.</TD></TR></TABLE>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 35.45pt; text-align: justify">A General Meeting, the consideration
of any matter on its agenda, or the resolution on any matter on its agenda, may be postponed or adjourned, from time to time and
from place to place: (i) by the Chairperson of a General Meeting at which a quorum is present (and he shall do so if directed by
the General Meeting, with the consent of the holders of a majority of the voting power represented in person or by proxy and voting
on the question of adjournment), but no business shall be transacted at any such adjourned meeting except business which might
lawfully have been transacted at the meeting as originally called, or a matter on its agenda with respect to which no resolution
was adopted at the meeting originally called; or (ii) by the Board of Directors (whether prior to or at a General Meeting).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 35.45pt; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 35.4pt">31.</TD><TD STYLE="text-align: justify"><FONT STYLE="font-variant: small-caps"><B><U>Voting Power</U></B></FONT>.</TD></TR></TABLE>

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

<P STYLE="margin: 0pt 0 0pt 35.45pt; font: 10pt Times New Roman, Times, Serif; text-align: justify">Subject
to the provisions of Article &#8206;32(a) and to any provision hereof conferring special rights as to voting, or restricting the
right to vote, every Shareholder shall have one vote for each share held by the Shareholder of record, on every resolution, without
regard to whether the vote thereon is conducted by a show of hands, by written ballot, or by any other means.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 35.45pt; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 35.45pt">32.</TD><TD STYLE="text-align: justify"><FONT STYLE="font-variant: small-caps"><B><U>Voting Rights.</U></B></FONT></TD></TR></TABLE>

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

<P STYLE="margin: 0pt 0 0pt 35.45pt; font: 10pt Times New Roman, Times, Serif; text-align: justify">(a)
 &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;No shareholder shall be entitled to vote at any General Meeting (or be counted as a part of the quorum thereat), unless all calls
then payable by him or her in respect of his or her shares in the Company have been paid.</P>

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

<P STYLE="margin: 0pt 0 0pt 35.45pt; font: 10pt Times New Roman, Times, Serif; text-align: justify">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
A company or other corporate body being a Shareholder of the Company may duly authorize any person to be its representative at
any meeting of the Company or to execute or deliver a proxy on its behalf. Any person so authorized shall be entitled to exercise
on behalf of such Shareholder all the power, which the Shareholder could have exercised if it were an individual. Upon the request
of the Chairperson of the General Meeting, written evidence of such authorization (in form acceptable to the Chairperson) shall
be delivered to him or her.</P>

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

<P STYLE="margin: 0pt 0 0pt 35.45pt; font: 10pt Times New Roman, Times, Serif; text-align: justify">(c)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Any Shareholder entitled to vote may vote either in person or by proxy (who need not be a Shareholder of the Company), or, if
the Shareholder is a company or other corporate body, by representative authorized pursuant to Article &#8206;(b) above.</P>

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

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

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

<P STYLE="margin: 0pt 0 0pt 35.45pt; font: 10pt Times New Roman, Times, Serif; text-align: justify">(d)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
If two or more persons are registered as joint holders of any share, the vote of the senior who tenders a vote, in person or by
proxy, shall be accepted to the exclusion of the vote(s) of the other joint holder(s). For the purpose of this Article &#8206;32&#8206;(d),
seniority shall be determined by the order of registration of the joint holders in the Register of Shareholders.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 35.45pt; text-align: justify">(e)
 &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;If a Shareholder is a minor, under protection, bankrupt or legally incompetent, or in the case of a corporation, is in receivership
or liquidation, it may, subject to all other provisions of these Articles and any documents or records required to be provided
under these Articles, vote through his, her or its trustees, receiver, liquidator, natural guardian or another legal guardian,
as the case may be, and the persons listed above may vote in person or by proxy.</P>

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

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

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 35.4pt">33.</TD><TD STYLE="text-align: justify"><FONT STYLE="font-variant: small-caps"><B><U>Instrument of Appointment</U></B></FONT>.</TD></TR></TABLE>

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

<P STYLE="margin: 0pt 0 0pt 35.45pt; font: 10pt Times New Roman, Times, Serif; text-align: justify">(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
An instrument appointing a proxy shall be in writing and shall be substantially in the following form:</P>

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 93%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; margin-left: 0.5in">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 19%; text-align: justify"><FONT STYLE="font-size: 10pt">&ldquo;I</FONT></TD>
    <TD STYLE="width: 34%; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">&nbsp;</TD>
    <TD STYLE="width: 4%; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-size: 10pt">of</FONT></TD>
    <TD STYLE="width: 43%; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-size: 10pt"><I>(Name of Shareholder)</I></FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-size: 10pt"><I>(Address of Shareholder)</I></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="4" STYLE="padding-top: 2pt; padding-bottom: 2pt; text-align: justify"><FONT STYLE="font-size: 10pt">Being a shareholder of [&#9679;]. hereby appoints</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-size: 10pt">of</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-size: 10pt"><I>(Name of Proxy)</I></FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-size: 10pt"><I>(Address of Proxy)</I></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="4" STYLE="padding-top: 2pt; padding-bottom: 2pt; text-align: justify"><FONT STYLE="font-size: 10pt">as my proxy to vote for me and on my behalf at the General Meeting of the Company to be held on the ___ day of _______, _______ and at any adjournment(s) thereof.</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="4" STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="4" STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">Signed this ____ day of ___________, ______.</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="4" STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="4" STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-size: 10pt">(Signature of Appointor)&rdquo;</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 78pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 35.4pt; text-align: justify">or in any usual or common form
or in such other form as may be approved by the Board of Directors. Such proxy shall be duly signed by the appointor of such person's
duly authorized attorney, or, if such appointor is company or other corporate body, in the manner in which it signs documents which
binds it together with a certificate of an attorney with regard to the authority of the signatories.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 35.4pt; text-align: justify">&nbsp;</P>

<P STYLE="margin: 0pt 0 0pt 35.45pt; font: 10pt Times New Roman, Times, Serif; text-align: justify">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Subject to the Companies Law, the original instrument appointing a proxy or a copy thereof certified by an attorney (and the power
of attorney or other authority, if any, under which such instrument has been signed) shall be delivered to the Company (at its
Office, at its principal place of business, or at the offices of its registrar or transfer agent, or at such place as notice of
the meeting may specify) not less than forty eight (48) hours (or such shorter period as the notice shall specify) before the
time fixed for such meeting. Notwithstanding the above, the Chairperson shall have the right to waive the time requirement provided
above with respect to all instruments of proxies and to accept instruments of proxy until the beginning of a General Meeting.
A document appointing a proxy shall be valid for every adjourned meeting of the General Meeting to which the document relates.</P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 35.45pt">34.</TD><TD STYLE="text-align: justify"><FONT STYLE="font-variant: small-caps"><B><U>Effect of Death of Appointor of Transfer of Share
and or Revocation of Appointment</U></B></FONT>.</TD></TR></TABLE>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 35.45pt; text-align: justify">(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
A vote cast in accordance with an instrument appointing a proxy shall be valid notwithstanding the prior death or bankruptcy of
the appointing Shareholder (or of his or her attorney-in-fact, if any, who signed such instrument), or the transfer of the share
in respect of which the vote is cast, unless written notice of such matters shall have been received by the Company or by the
Chairperson of such meeting prior to such vote being cast.</P>

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

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

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




<P STYLE="margin: 0pt 0 0pt 35.45pt; font: 10pt Times New Roman, Times, Serif; text-align: justify">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Subject to the Companies Law, an instrument appointing a proxy shall be deemed revoked (i) upon receipt by the Company or the
Chairperson, subsequent to receipt by the Company of such instrument, of written notice signed by the person signing such instrument
or by the Shareholder appointing such proxy canceling the appointment thereunder (or the authority pursuant to which such instrument
was signed) or of an instrument appointing a different proxy (and such other documents, if any, required under Article &#8206;33(b)
for such new appointment), provided such notice of cancellation or instrument appointing a different proxy were so received at
the place and within the time for delivery of the instrument revoked thereby as referred to in Article &#8206;33(b) hereof, or
(ii) if the appointing Shareholder is present in person at the meeting for which such instrument of proxy was delivered, upon
receipt by the Chairperson of such meeting of written notice from such Shareholder of the revocation of such appointment, or if
and when such Shareholder votes at such meeting. A vote cast in accordance with an instrument appointing a proxy shall be valid
notwithstanding the revocation or purported cancellation of the appointment, or the presence in person or vote of the appointing
Shareholder at a meeting for which it was rendered, unless such instrument of appointment was deemed revoked in accordance with
the foregoing provisions of this Article &#8206;34&#8206;(b) at or prior to the time such vote was cast.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-variant: small-caps"><B>Board
of Directors</B></FONT></P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 35.4pt">35.</TD><TD STYLE="text-align: justify"><FONT STYLE="font-variant: small-caps"><B><U>Powers of the Board of Directors</U></B></FONT>.</TD></TR></TABLE>

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

<P STYLE="margin: 0pt 0 0pt 35.45pt; font: 10pt Times New Roman, Times, Serif; text-align: justify">(a)
 &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Board of Directors may exercise all such powers and do all such acts and things as the Board of Directors is authorized by
law or as the Company is authorized to exercise and do and are not hereby or by law required to be exercised or done by the General
Meeting. The authority conferred on the Board of Directors by this Article &#8206;35 shall be subject to the provisions of the
Companies Law, these Articles and any regulation or resolution consistent with these Articles adopted from time to time at a General
Meeting, provided, however, that no such regulation or resolution shall invalidate any prior act done by or pursuant to a decision
of the Board of Directors which would have been valid if such regulation or resolution had not been adopted.</P>

<P STYLE="margin: 0pt 0 0pt 35.45pt; font: 10pt Times New Roman, Times, Serif; text-align: justify">&nbsp;</P>

<P STYLE="margin: 0pt 0 0pt 35.45pt; font: 10pt Times New Roman, Times, Serif; text-align: justify">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Without limiting the generality of the foregoing, the Board of Directors may, from time to time, set aside any amount(s) out of
the profits of the Company as a reserve or reserves for any purpose(s) which the Board of Directors, in its absolute discretion,
shall deem fit, including without limitation, capitalization and distribution of bonus shares, and may invest any sum so set aside
in any manner and from time to time deal with and vary such investments and dispose of all or any part thereof, and employ any
such reserve or any part thereof in the business of the Company without being bound to keep the same separate from other assets
of the Company, and may subdivide or re-designate any reserve or cancel the same or apply the funds therein for another purpose,
all as the Board of Directors may from time to time think fit.</P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 35.45pt">36.</TD><TD STYLE="text-align: justify"><FONT STYLE="font-variant: small-caps"><B><U>Exercise of Powers of the Board of Directors</U></B></FONT>.</TD></TR></TABLE>

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

<P STYLE="margin: 0pt 0 0pt 35.45pt; font: 10pt Times New Roman, Times, Serif; text-align: justify">(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
A meeting of the Board of Directors at which a quorum is present in accordance with Article &#8206;45 shall be competent to exercise
all the authorities, powers and discretion vested in or exercisable by the Board of Directors.</P>

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

<P STYLE="margin: 0pt 0 0pt 35.45pt; font: 10pt Times New Roman, Times, Serif; text-align: justify">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
A resolution proposed at any meeting of the Board of Directors shall be deemed adopted if approved by a majority of the Directors
present, entitled to vote and voting thereon when such resolution is put to a vote.</P>

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

<P STYLE="margin: 0pt 0 0pt 35.45pt; font: 10pt Times New Roman, Times, Serif; text-align: justify">(c)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
The Board of Directors may adopt resolutions, without convening a meeting of the Board of Directors, in writing or in any other
manner permitted by the Companies Law.</P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 35.45pt">37.</TD><TD STYLE="text-align: justify"><FONT STYLE="font-variant: small-caps"><B><U>Delegation of Powers</U></B></FONT>.</TD></TR></TABLE>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 35.45pt; text-align: justify">(a) &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Board of
Directors may, subject to the provisions of the Companies Law, delegate any or all of its powers to committees (in these
Articles referred to as a &ldquo;<B>Committee of the Board of Directors</B>&rdquo;, or &ldquo;<B>Committee</B>&rdquo;), each
consisting of one or more persons (who may or may not be Directors), and it may from time to time revoke such delegation or
alter the composition of any such Committee. <FONT STYLE="font-size: 10pt">Any Committee so formed shall, in the exercise of
the powers so delegated, conform to any regulations imposed on it by the Board of Directors, subject to applicable law. No
regulation imposed by the Board of Directors on any Committee and no resolution of the Board of Directors shall invalidate
any prior act done or pursuant to a resolution by the Committee which would have been valid if such regulation or resolution
of the Board of Directors had not been adopted. The meetings and proceedings of any such Committee of the Board of Directors
shall, mutatis mutandis, be governed by the provisions herein contained for regulating the meetings of the Board of
Directors, to the extent not superseded by any regulations adopted by the Board of Directors. Unless otherwise expressly
prohibited by the Board of Directors, in delegating powers to a Committee of the Board of Directors, such Committee shall be
empowered to further delegate such powers.</FONT></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="margin: 0pt 0 0pt 35.45pt; font: 10pt Times New Roman, Times, Serif; text-align: justify">(b)
 &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Board of Directors may from time to time appoint a Secretary to the Company, as well as Officers, agents, employees and independent
contractors, as the Board of Directors deems fit, and may terminate the service of any such person. The Board of Directors may,
subject to the provisions of the Companies Law, determine the powers and duties, as well as the salaries and compensation, of
all such persons.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 35.45pt; text-align: justify">(c)
 &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Board of Directors may from time to time, by power of attorney or otherwise, appoint any person, company, firm or body of
persons to be the attorney or attorneys of the Company at law or in fact for such purposes(s) and with such powers, authorities
and discretions, and for such period and subject to such conditions, as it deems fit, and any such power of attorney or other
appointment may contain such provisions for the protection and convenience of persons dealing with any such attorney as the Board
of Directors deems fit, and may also authorize any such attorney to delegate all or any of the powers, authorities and discretions
vested in him or her.</P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 35.45pt">38.</TD><TD STYLE="text-align: justify"><FONT STYLE="font-variant: small-caps"><B><U>Number of Directors</U></B></FONT>.</TD></TR></TABLE>

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

<P STYLE="margin: 0pt 0 0pt 35.45pt; font: 10pt Times New Roman, Times, Serif; text-align: justify">(a)
 &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Board of Directors shall consist of such number of Directors (not less than three (3) nor more than eleven (11), including
the External Directors, if any were elected) as may be fixed from time to time by resolution of the Board of Directors.</P>

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

<P STYLE="margin: 0pt 0 0pt 35.45pt; font: 10pt Times New Roman, Times, Serif; text-align: justify">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Notwithstanding anything to the contrary herein, this Article <FONT STYLE="font-family: Times New Roman, Times, Serif">&#8206;</FONT>38
may only be amended or replaced by a resolution adopted at a General Meeting by a majority of at least 65% of the total voting
power of the Company&rsquo;s shareholders.</P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 35.4pt">39.</TD><TD STYLE="text-align: justify"><FONT STYLE="font-variant: small-caps"><B><U>Election and Removal of Directors</U></B></FONT>.</TD></TR></TABLE>

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

<P STYLE="margin: 0pt 0 0pt 35.45pt; font: 10pt Times New Roman, Times, Serif; text-align: justify">(a)
 &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Directors, excluding the External Directors, if any were elected, shall be classified, with respect to the term for which
they each severally hold office, into three classes, as nearly equal in number as practicable, hereby designated as Class I, Class
II and Class III. The Board of Directors may assign members of the Board of Directors already in office to such classes at the
time such classification becomes effective.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">(i)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
The term of office of the initial Class I directors shall expire at the Annual General Meeting to be held in 2022 and when their
successors are elected and qualified,</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">(ii)
 &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The term of office of the initial Class II directors shall expire at the first Annual General Meeting following the Annual General
Meeting referred to in clause (i) above and when their successors are elected and qualified, and</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">(iii)
 &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The term of office of the initial Class III directors shall expire at the first Annual General Meeting following the Annual General
Meeting referred to in clause (ii) above and when their successors are elected and qualified,</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 35.45pt; text-align: justify">(b) &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;At each Annual
General Meeting, commencing with the Annual General Meeting to be held in 2022, each Nominee or Alternate Nominee elected at
such Annual General Meeting to serve as a Director in a Class whose term shall have expired at such Annual General Meeting
shall be elected to hold office until the third Annual General Meeting next succeeding his or her election and until his or
her respective successor shall have been elected and qualified. Notwithstanding anything to the contrary, each Director shall
serve until his or her successor is elected and qualified or until such earlier time as such Director&rsquo;s office is
vacated<FONT STYLE="font-size: 10pt">. </FONT></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="margin: 0pt 0 0pt 35.45pt; font: 10pt Times New Roman, Times, Serif; text-align: justify">(c)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
If the number of Directors (excluding External Directors, if any were elected) that comprises the Board of Directors is hereafter
changed by the Board of Directors, any newly created directorships or decrease in directorships shall be so apportioned by the
Board of Directors among the classes as to make all classes as nearly equal in number as is practicable, provided that no decrease
in the number of Directors constituting the Board of Directors shall shorten the term of any incumbent Director.</P>

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

<P STYLE="margin: 0pt 0 0pt 35.45pt; font: 10pt Times New Roman, Times, Serif; text-align: justify">(d)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Prior to every General Meeting of the Company at which Directors are to be elected, and subject to clauses &#8206;(a) and <FONT STYLE="font-family: Times New Roman, Times, Serif">&#8206;</FONT>(h)
of this Article, the Board of Directors (or a Committee thereof) shall select, by a resolution adopted by a majority of the Board
of Directors (or such Committee), a number of Persons to be proposed to the Shareholders for election as Directors at such General
Meeting (the &ldquo;<B>Nominees</B>&rdquo;).</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 35.45pt; text-align: justify"><FONT STYLE="font-size: 10pt">(e)
 &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Any Proposing Shareholder requesting to include on the agenda of a General Meeting a nomination of a Person to be proposed to
the Shareholders for election as Director (such person, an &ldquo;<B>Alternate Nominee</B>&rdquo;), may so request provided that
it complies with this Article &#8206;39&#8206;(e)</FONT>, <FONT STYLE="font-size: 10pt">Article &#8206;25 and applicable law.
Unless otherwise determined by the Board of Directors, a Proposal Request relating to an Alternate Nominee is deemed to be a matter
that is appropriate to be considered only at an Annual General Meeting. In addition to any information required to be included
in accordance with applicable law, such a Proposal Request shall include information required pursuant to Article &#8206;25, and
shall also set forth: (i) the name, address, telephone number, fax number and email address of the Alternate Nominee and all citizenships
and residencies of the Alternate Nominee; (ii) a description of all arrangements, relations or understandings during the past
three (3) years, and any other material relationships, between the Proposing Shareholder(s) or any of its affiliates and each
Alternate Nominee; (iii) a declaration signed by the Alternate Nominee that he or she consents to be named in the Company&rsquo;s
notices and proxy materials and on the Company&rsquo;s proxy card relating to the General Meeting, if provided or published, and
that he or she, if elected, consents to serve on the Board of Directors and to be named in the Company&rsquo;s disclosures and
filings; (iv)&nbsp;a declaration signed by each Alternate Nominee as required under the Companies Law and any other applicable
law and stock exchange rules and regulations for the appointment of such an Alternate Nominee and an undertaking that all of the
information that is required under law and stock exchange rules and regulations to be provided to the Company in connection with
such an appointment has been provided (including, information in respect of the Alternate Nominee as would be provided in response
to the applicable disclosure requirements under Form 10-K or 20-F or any other applicable form prescribed by the U.S. Securities
and Exchange Commission (the&nbsp;&ldquo;<B>SEC</B>&rdquo;)); (v) a declaration made by the Alternate Nominee of whether he or
she meets the criteria for an independent director and, if applicable, External Director of the Company under the Companies Law
and/or under any applicable law, regulation or stock exchange rules, and if not, then an explanation of why not; and (vi) any
other information required at the time of submission of the Proposal Request by applicable law, regulations or stock exchange
rules. In addition, the Proposing Shareholder(s) and each Alternate Nominee shall promptly provide any other information reasonably
requested by the Company, including a duly completed director and officer questionnaire, in such form as may be provided by the
Company, with respect to such Alternate Nominee. The Board of Directors may refuse to acknowledge the nomination of any person
not made in compliance with the foregoing. The Company shall be entitled to publish any information provided by a Proposing Shareholder
or Alternate Nominee pursuant to this Article &#8206;39&#8206;(e) and Article &#8206;25, and the Proposing Shareholder and Alternate
Nominee shall be responsible for the accuracy and completeness thereof.</FONT></P>

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

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

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

<P STYLE="margin: 0pt 0 0pt 35.45pt; font: 10pt Times New Roman, Times, Serif; text-align: justify">(f) &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Nominees or
Alternate Nominees shall be elected by a resolution adopted at the General Meeting at which they are subject to election.
Notwithstanding Articles 25(a) and 25(c), in the event of a Contested Election, the method of calculation of the votes and
the manner in which the resolutions will be presented to the General Meeting shall be determined by the Board of Directors in
its discretion. In the event that the Board <FONT STYLE="font-size: 10pt">of Directors does not or is unable to make a
determination on such matter, then the method described in clause (ii) below shall apply. The Board of Directors may
consider, among other things, the following methods: (i) election of competing slates of Director nominees by a majority of
the voting power represented at the General Meeting in person or by proxy and voting on such competing slates, (ii) election
of individual Directors by a plurality of the voting power represented at the General Meeting in person or by proxy and
voting on the election of Directors (which shall mean that the nominees receiving the largest number of &ldquo;for&rdquo;
votes will be elected in such Contested Election), (iii) election of each nominee by a majority of the voting power
represented at the General Meeting in person or by proxy and voting on the election of Directors, provided that if the number
of such nominees exceeds the number of Directors proposed to be elected as set forth above, then as among such elected
nominees the election shall be by plurality of the voting power as described above, and (iv) such other method of voting as
the Board of Directors deems appropriate, including use of a &ldquo;universal proxy card&rdquo; listing all Nominees and
Alternate Nominees by the Company. For the purposes of these Articles, election of Directors at a General Meeting shall be
considered a &ldquo;Contested Election&rdquo; if the aggregate number of Nominees and Alternate Nominees at such meeting
exceeds the total number of Directors to be elected at such meeting, with the determination thereof being made by the
Secretary (or, in the absence thereof, by the Chief Executive Officer of the Company) as of the close of the applicable
notice of nomination period under Article &#8206;25 or under applicable law, based on whether one or more notice(s) of
nomination were timely filed in accordance with Article &#8206;25, this Article &#8206;39 and applicable law; <U>provided</U>,&nbsp;<U>however</U>,
that the determination that an election is a Contested Election shall not be determinative as to the validity of any such
notice of nomination; and <U>provided</U>, <U>further</U>, that, if, prior to the time the Company mails its initial proxy
statement in connection with such election of Directors, one or more notices of nomination of an Alternate Nominee are
withdrawn such that the number of candidates for election as Director no longer exceeds the number of Directors proposed to
be elected as set forth above, the election shall not be considered a Contested Election. At any General Meeting at which
Directors are to be elected, each shareholder shall be entitled to cast a number of votes with respect to nominees for
election to the Board of Directors up to the total number of Directors to be elected at such meeting. Shareholders shall not
be entitled to cumulative voting in the election of Directors. </FONT></P>

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

<P STYLE="margin: 0pt 0 0pt 35.45pt; font: 10pt Times New Roman, Times, Serif; text-align: justify">(g)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Notwithstanding anything to the contrary herein, this Article &#8206;39 and Article &#8206;42(e) may only be amended, replaced
or suspended by a resolution adopted at a General Meeting by a majority of at least 65% of the total voting power of the Company&rsquo;s
shareholders.</P>

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

<P STYLE="margin: 0pt 0 0pt 35.45pt; font: 10pt Times New Roman, Times, Serif; text-align: justify">(h)
 &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Notwithstanding anything to the contrary in these Articles, the election, qualification, removal or dismissal of External Directors,
if so elected, shall be only in accordance with the applicable provisions set forth in the Companies Law.</P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 35.45pt">40.</TD><TD STYLE="text-align: justify"><FONT STYLE="font-variant: small-caps"><B><U>Commencement of Directorship</U></B></FONT>.</TD></TR></TABLE>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 35.45pt; text-align: justify">Without derogating from Article
 &#8206;39, the term of office of a Director shall commence as of the date of his or her appointment or election, or on a later
date if so specified in his or her appointment or election.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 35.45pt; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 35.45pt">41.</TD><TD STYLE="text-align: justify"><FONT STYLE="font-variant: small-caps"><B><U>Continuing Directors in the Event of Vacancies</U></B></FONT>.</TD></TR></TABLE>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 35.45pt; text-align: justify">The Board of Directors
(and, if so determined by the Board of Directors, the General Meeting) may at any time and from time to time appoint any
person as a Director to fill a vacancy (whether such vacancy is due to a Director no longer serving or due to the number of
Directors serving being less than the maximum number stated in Article &#8206;38 hereof). In the event of one or more such
vacancies in the Board of Directors, the continuing Directors may continue to act in every matter, provided, however, that if
the number of Directors serving is less than the minimum number provided for pursuant to Article &#8206;38 hereof, they may
only act in an emergency or to fill the office of a Director which has become vacant up to a number equal to the minimum
number provided for pursuant to Article &#8206;38 hereof, or in order to call a General Meeting of the Company for the
purpose of electing Directors to fill any or all vacancies. The office of a Director that was appointed by the Board of
Directors to fill any vacancy shall only be for the remaining period of time during which the Director whose service has
ended was filled would have held office, or in case of a vacancy due to the number of Directors serving being less than the
maximum number stated in Article <FONT STYLE="font-size: 10pt">&#8206;38 hereof the Board of Directors shall determine at the
time of appointment the class pursuant to Article &#8206;39 to which the additional Director shall be assigned.
Notwithstanding anything to the contrary herein, this Article <FONT STYLE="font-family: Times New Roman, Times, Serif">&#8206;</FONT>41
may only be amended, replaced or suspended by a resolution adopted at a General Meeting by a majority of at least 65% of the
total voting power of the Company&rsquo;s shareholders.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 35.45pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 35.45pt; text-align: justify"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 35.45pt; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 35.45pt">42.</TD><TD STYLE="text-align: justify"><FONT STYLE="font-variant: small-caps"><B><U>Vacation of Office</U></B></FONT>.</TD></TR></TABLE>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 35.45pt; text-align: justify; text-indent: 0in">The office
of a Director shall be vacated and he shall be dismissed or removed:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 35.45pt; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="margin: 0pt 0 0pt 35.45pt; font: 10pt Times New Roman, Times, Serif; text-align: justify">(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
ipso facto, upon his or her death;</P>

<P STYLE="margin: 0pt 0 0pt 35.45pt; font: 10pt Times New Roman, Times, Serif; text-align: justify">&nbsp;</P>

<P STYLE="margin: 0pt 0 0pt 35.45pt; font: 10pt Times New Roman, Times, Serif; text-align: justify">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
if he or she is prevented by applicable law from serving as a Director;</P>

<P STYLE="margin: 0pt 0 0pt 35.45pt; font: 10pt Times New Roman, Times, Serif; text-align: justify">&nbsp;</P>

<P STYLE="margin: 0pt 0 0pt 35.45pt; font: 10pt Times New Roman, Times, Serif; text-align: justify">(c)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
if the Board of Directors determines that due to his or her mental or physical state he or she is unable to serve as a director;</P>

<P STYLE="margin: 0pt 0 0pt 35.45pt; font: 10pt Times New Roman, Times, Serif; text-align: justify">&nbsp;</P>

<P STYLE="margin: 0pt 0 0pt 35.45pt; font: 10pt Times New Roman, Times, Serif; text-align: justify">(d)
 &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;if his or her directorship expires pursuant to these Articles and/or applicable law;</P>

<P STYLE="margin: 0pt 0 0pt 35.45pt; font: 10pt Times New Roman, Times, Serif; text-align: justify">&nbsp;</P>

<P STYLE="margin: 0pt 0 0pt 35.45pt; font: 10pt Times New Roman, Times, Serif; text-align: justify">(e)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
by a resolution adopted at a General Meeting by a majority of at least 65% of the total voting power of the Company&rsquo;s shareholders
(with such removal becoming effective on the date fixed in such resolution);</P>

<P STYLE="margin: 0pt 0 0pt 35.45pt; font: 10pt Times New Roman, Times, Serif; text-align: justify">&nbsp;</P>

<P STYLE="margin: 0pt 0 0pt 35.45pt; font: 10pt Times New Roman, Times, Serif; text-align: justify">(f)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
by his or her written resignation, such resignation becoming effective on the date fixed therein, or upon the delivery thereof
to the Company, whichever is later; or</P>

<P STYLE="margin: 0pt 0 0pt 35.45pt; font: 10pt Times New Roman, Times, Serif; text-align: justify">&nbsp;</P>

<P STYLE="margin: 0pt 0 0pt 35.45pt; font: 10pt Times New Roman, Times, Serif; text-align: justify">(g)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
with respect to an External Director, if so elected, and notwithstanding anything to the contrary herein, only pursuant to applicable
law.</P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 35.45pt">43.</TD><TD STYLE="text-align: justify"><FONT STYLE="font-variant: small-caps"><B><U>Conflict of Interests; Approval of Related Party Transactions</U></B></FONT>.</TD></TR></TABLE>

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

<P STYLE="margin: 0pt 0 0pt 35.45pt; font: 10pt Times New Roman, Times, Serif; text-align: justify">(a)
 &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Subject to the provisions of applicable law and these Articles, no Director shall be disqualified by virtue of his or her office
from holding any office or place of profit in the Company or in any company in which the Company shall be a shareholder or otherwise
interested, or from contracting with the Company as vendor, purchaser or otherwise, nor shall any such contract, or any contract
or arrangement entered into by or on behalf of the Company in which any Director shall be in any way interested, be avoided, nor,
other than as required under the Companies Law, shall any Director be liable to account to the Company for any profit arising
from any such office or place of profit or realized by any such contract or arrangement by reason only of such Director&rsquo;s
holding that office or of the fiduciary relations thereby established, but the nature of his or her interest, as well as any material
fact or document, must be disclosed by him or her at the meeting of the Board of Directors at which the contract or arrangement
is first considered, if his or her interest then exists, or, in any other case, at no later than the first meeting of the Board
of Directors after the acquisition of his or her interest.</P>

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

<P STYLE="margin: 0pt 0 0pt 35.45pt; font: 10pt Times New Roman, Times, Serif; text-align: justify">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Subject to the Companies Law&nbsp;and these Articles, a transaction between the Company and an Office Holder, and a transaction
between the Company and another entity in which an Office Holder of the Company has a personal interest, in each case, which is
not an Extraordinary Transaction (as defined by the Companies Law), shall require only approval by the Board of Directors or a
Committee of the Board of Directors. Such authorization, as well as the actual approval, may be for a particular transaction or
more generally for specific type of transactions.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-variant: small-caps"><B>Proceedings
of the Board of Directors</B></FONT></P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 35.4pt">44.</TD><TD STYLE="text-align: justify"><FONT STYLE="font-variant: small-caps"><B><U>Meetings</U></B>. </FONT></TD></TR></TABLE>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 35.45pt; text-align: justify">(a)
 &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Board of Directors may meet and adjourn its meetings and otherwise regulate such meetings and proceedings as the Board of
Directors thinks fit.</P>

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




<P STYLE="margin: 0pt 0 0pt 35.45pt; font: 10pt Times New Roman, Times, Serif; text-align: justify"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 35.45pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 35.45pt; text-align: justify">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
A meeting of the Board of Directors shall be convened by the Secretary upon instruction of the Chairperson or upon a request of
at least two Directors which is submitted to the Chairperson or in any event that such meeting is required by the provisions of
the Companies Law. In the event that the Chairperson does not instruct the Secretary to convene a meeting upon a request of at
least two Directors within seven (7) days of such request, then such two Directors may convene a meeting of the Board of Directors.
Any meeting of the Board of Directors shall be convened upon not less than two (2) days' notice, unless such notice is waived
in writing by all of the Directors as to a particular meeting or by their attendance at such meeting or unless the matters to
be discussed at such meeting are of such urgency and importance that notice is reasonably determined by the Chairperson as ought
to be waived or shortened under the circumstances.</P>

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

<P STYLE="margin: 0pt 0 0pt 35.45pt; font: 10pt Times New Roman, Times, Serif; text-align: justify">(c)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Notice of any such meeting shall be given orally, by telephone, in writing or by mail, facsimile, email or such other means of
delivery of notices as the Company may apply, from time to time.</P>

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

<P STYLE="margin: 0pt 0 0pt 35.45pt; font: 10pt Times New Roman, Times, Serif; text-align: justify">(d)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Notwithstanding anything to the contrary herein, failure to deliver notice to a Director of any such meeting in the manner required
hereby may be waived by such Director, and a meeting shall be deemed to have been duly convened notwithstanding such defective
notice if such failure or defect is waived prior to action being taken at such meeting, by all Directors entitled to participate
at such meeting to whom notice was not duly given as aforesaid. Without derogating from the foregoing, no Director present at
any time during a meeting of the Board of Directors shall be entitled to seek the cancellation or invalidation of any proceedings
or resolutions adopted at such meeting on account of any defect in the notice of such meeting relating to the date, time or the
place thereof or the convening of the meeting.</P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 35.45pt">45.</TD><TD STYLE="text-align: justify"><FONT STYLE="font-variant: small-caps"><B><U>Quorum</U></B>.</FONT></TD></TR></TABLE>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 35.45pt; text-align: justify">Until otherwise unanimously
decided by the Board of Directors, a quorum at a meeting of the Board of Directors shall be constituted by the presence in person
or by any means of communication of a majority of the Directors then in office who are lawfully entitled to participate and vote
in the meeting. No business shall be transacted at a meeting of the Board of Directors unless the requisite quorum is present (in
person or by any means of communication on the condition that all participating Directors can hear each other simultaneously) when
the meeting proceeds to business. If within 30 minutes from the time appointed for a meeting of the Board of Directors a quorum
is not present, the meeting shall stand adjourned at the same place and time 48 hours thereafter unless the Chairperson has determined
that there is such urgency and importance that a shorter period is required under the circumstances. If an adjourned meeting is
convened in accordance with the foregoing and a quorum is not present within 30 minutes of the announced time, the requisite quorum
at such adjourned meeting shall be, any two (2) Directors, if the number of then serving directors is up to five, and any three
(3) Directors, if the number of then serving directors is more than five, in each case who are lawfully entitled to participate
in the meeting and who are present at such adjourned meeting. At an adjourned meeting of the Board of Directors the only matters
to be considered shall be those matters which might have been lawfully considered at the meeting of the Board of Directors originally
called if a requisite quorum had been present, and the only resolutions to be adopted are such types of resolutions which could
have been adopted at the meeting of the Board of Directors originally called.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 35.45pt; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 35.45pt">46.</TD><TD STYLE="text-align: justify"><FONT STYLE="font-variant: small-caps"><B><U>Chairperson of the Board of Directors</U></B></FONT>.</TD></TR></TABLE>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 35.45pt; text-align: justify">The Board of Directors
shall, from time to time, elect one of its members to be the Chairperson of the Board of Directors, remove such Chairperson
from office and appoint in his or her place. The Chairperson of the Board of Directors shall preside at every meeting of the
Board of Directors, but if there is no such Chairperson, or if at any meeting he is not present within fifteen (15) minutes
of the time fixed for the meeting or if he is unwilling to take the chair, the Directors present shall choose one of the
Directors present at the meeting to be the Chairperson of such meeting. The office of Chairperson of the Board of Directors
shall not, by itself, entitle the holder to a second or casting vote.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 35.45pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 35.45pt; text-align: justify"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 35.45pt; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 35.45pt">47.</TD><TD STYLE="text-align: justify"><FONT STYLE="font-variant: small-caps"><B><U>Validity of Acts Despite Defects</U></B></FONT>.</TD></TR></TABLE>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 35.45pt; text-align: justify">All acts done or transacted
at any meeting of the Board of Directors, or of a Committee of the Board of Directors, or by any person(s) acting as Director(s),
shall, notwithstanding that it may afterwards be discovered that there was some defect in the appointment of the participants in
such meeting or any of them or any person(s) acting as aforesaid, or that they or any of them were disqualified, be as valid as
if there were no such defect or disqualification.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 35.45pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-variant: small-caps"><B>Chief
Executive Officer</B></FONT></P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 35.4pt">48.</TD><TD STYLE="text-align: justify"><FONT STYLE="font-variant: small-caps"><B><U>Chief Executive Officer</U></B></FONT>.</TD></TR></TABLE>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0in">The Board of
Directors shall from time to time appoint one or more persons, whether or not Directors, as Chief Executive Officer of the Company
who shall have the powers and authorities set forth in the Companies Law, and may confer upon such person(s), and from time to
time modify or revoke, such titles and such duties and authorities of the Board of Directors as the Board of Directors may deem
fit, subject to such limitations and restrictions as the Board of Directors may from time to time prescribe. Such appointment(s)
may be either for a fixed term or without any limitation of time, and the Board of Directors may from time to time (subject to
any additional approvals required under, and the provisions of, the Companies Law and of any contract between any such person and
the Company) fix their salaries and compensation, remove or dismiss them from office and appoint another or others in his, her
or their place or places.</P>

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

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

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 35.4pt"><FONT STYLE="font-variant: small-caps">49.</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-variant: small-caps"><B><U>Minutes</U></B><U>. </U></FONT></TD></TR></TABLE>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0in">Minutes of
each General Meeting and of each meeting of the Board of Directors and any Committees thereof shall be recorded and duly entered
in books provided for that purpose. Such minutes shall, in all events, set forth the names of the persons present at the meeting
and all resolutions adopted thereat. Any minutes of the General Meeting or the Board of Directors or any Committee thereof, if
purporting to be signed by the Chairperson of the General Meeting, the Board of Directors or a Committee thereof, as the case may
be, or by the Chairperson of the next succeeding General Meeting, meeting of the Board of Directors or meeting of a Committee,
as the case may be, shall constitute prima facie evidence of the matters recorded therein.</P>

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

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

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 35.4pt">50.</TD><TD STYLE="text-align: justify"><FONT STYLE="font-variant: small-caps"><B><U>Declaration of Dividends</U></B></FONT>.</TD></TR></TABLE>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 35.45pt; text-align: justify">The Board of Directors may
from time to time declare, and cause the Company to pay dividends as permitted by the Companies Law. The Board of Directors shall
determine the time for payment of such dividends and the record date for determining the shareholders entitled thereto.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 35.45pt; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 35.45pt">51.</TD><TD STYLE="text-align: justify"><FONT STYLE="font-variant: small-caps"><B><U>Amount Payable by Way of Dividends</U></B></FONT>.</TD></TR></TABLE>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0in">Subject to
the provisions of these Articles and subject to the rights or conditions attached at that time to any share in the capital of the
Company granting preferential, special or deferred rights or not granting any rights with respect to dividends, any dividend paid
by the Company shall be allocated among the Shareholders (not in default in payment of any sum referred to in Article &#8206;13
hereof) entitled thereto on a <I>pari passu</I> basis in proportion to their respective holdings of the issued and outstanding
Shares in respect of which such dividends are being paid.</P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 35.45pt">52.</TD><TD STYLE="text-align: justify"><FONT STYLE="font-variant: small-caps"><B><U>Interest</U></B></FONT>.</TD></TR></TABLE>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 35.45pt; text-align: justify">No dividend shall carry interest
as against the Company.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 35.45pt; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 35.45pt">53.</TD><TD STYLE="text-align: justify"><FONT STYLE="font-variant: small-caps"><B><U>Payment in Specie</U></B></FONT>.</TD></TR></TABLE>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0.05pt 0pt 35.45pt; text-align: justify; text-indent: 0in">If
so declared by the Board of Directors, a dividend declared in accordance with Article &#8206;50 may be paid, in whole or in
part, by the distribution of specific assets of the Company or by distribution of paid up shares, debentures or other
securities of the Company or of any other companies, or in any combination thereof, in each case, the fair value of which
shall be determined by the Board of Directors in good faith.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0.05pt 0pt 35.45pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0.05pt 0pt 35.45pt; text-align: justify"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0.05pt 0pt 35.45pt; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 35.45pt">54.</TD><TD STYLE="text-align: justify"><FONT STYLE="font-variant: small-caps"><B><U>Implementation of Powers</U></B></FONT>.</TD></TR></TABLE>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 35.45pt; text-align: justify">The Board of Directors may
settle, as it deems fit, any difficulty arising with regard to the distribution of dividends, bonus shares or otherwise, and in
particular, to issue certificates for fractions of shares and sell such fractions of shares in order to pay their consideration
to those entitled thereto, or to set the value for the distribution of certain assets and to determine that cash payments shall
be paid to the Shareholders on the basis of such value, or that fractions whose value is less than NIS 0.01 shall not be taken
into account. The Board of Directors may instruct to pay cash or convey these certain assets to a trustee in favor of those people
who are entitled to a dividend, as the Board of Directors shall deem appropriate.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 35.45pt; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 35.45pt">55.</TD><TD STYLE="text-align: justify"><FONT STYLE="font-variant: small-caps"><B><U>Deductions from Dividends</U></B></FONT>.</TD></TR></TABLE>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 35.4pt; text-align: justify; text-indent: 0in">The Board
of Directors may deduct from any dividend or other moneys payable to any Shareholder in respect of a share any and all sums of
money then payable by him or her to the Company on account of calls or otherwise in respect of shares of the Company and/or on
account of any other matter of transaction whatsoever.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 35.4pt; text-align: justify; text-indent: 0in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 35.4pt"><FONT STYLE="font-variant: small-caps">56.</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-variant: small-caps"><B><U>Retention of Dividends</U></B><U>. </U></FONT></TD></TR></TABLE>

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

<P STYLE="margin: 0pt 0 0pt 35.45pt; font: 10pt Times New Roman, Times, Serif; text-align: justify">(a)
 &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Board of Directors may retain any dividend or other moneys payable or property distributable in respect of a share on which
the Company has a lien, and may apply the same in or toward satisfaction of the debts, liabilities, or engagements in respect
of which the lien exists.</P>

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

<P STYLE="margin: 0pt 0 0pt 35.45pt; font: 10pt Times New Roman, Times, Serif; text-align: justify">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
The Board of Directors may retain any dividend or other moneys payable or property distributable in respect of a share in respect
of which any person is, under Articles &#8206;21 or &#8206;22, entitled to become a Shareholder, or which any person is, under
said Articles, entitled to transfer, until such person shall become a Shareholder in respect of such share or shall transfer the
same.</P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 35.4pt">57.</TD><TD STYLE="text-align: justify"><FONT STYLE="font-variant: small-caps"><B><U>Unclaimed Dividends</U></B></FONT>.</TD></TR></TABLE>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 35.45pt; text-align: justify">All unclaimed dividends or
other moneys payable in respect of a share may be invested or otherwise made use of by the Board of Directors for the benefit of
the Company until claimed. The payment of any unclaimed dividend or such other moneys into a separate account shall not constitute
the Company a trustee in respect thereof, and any dividend unclaimed after a period of one (1) year (or such other period determined
by the Board of Directors) from the date of declaration of such dividend, and any such other moneys unclaimed after a like period
from the date the same were payable, shall be forfeited and shall revert to the Company, provided, however, that the Board of Directors
may, at its discretion, cause the Company to pay any such dividend or such other moneys, or any part thereof, to a person who would
have been entitled thereto had the same not reverted to the Company. The principal (and only the principal) of any unclaimed dividend
of such other moneys shall be if claimed, paid to a person entitled thereto.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 35.45pt; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 35.45pt">58.</TD><TD STYLE="text-align: justify"><FONT STYLE="font-variant: small-caps"><B><U>Mechanics of Payment</U></B></FONT>.</TD></TR></TABLE>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 35.45pt; text-align: justify">Any dividend or other
moneys payable in cash in respect of a share, less the tax required to be withheld pursuant to applicable law, may, as
determined by the Board of Directors in its sole discretion, be paid by check sent through the post to, or left at, the
registered address of the person entitled thereto or by transfer to a bank account specified by such person (or, if two or
more persons are registered as joint holders of such share or are entitled jointly thereto in consequence of the death or
bankruptcy of the holder or otherwise, to any one of such Persons or his or her bank account or the person who the Company
may then recognize as the owner thereof or entitled thereto under Article &#8206;21 or &#8206;22 hereof, as applicable, or
such person&rsquo;s bank account), or to such person and at such other address as the person entitled thereto may by writing
direct, or in any other manner the Board of Directors deems appropriate. Every such check or other method of payment shall be
made payable to the order of the person to whom it is sent, or to such person as the person entitled thereto as aforesaid may
direct, and payment of the check by the banker upon whom it is drawn shall be a good discharge to the Company. Every such
check shall be sent at the risk of the Person entitled to the money represented thereby.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 35.45pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 35.45pt; text-align: justify"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 35.45pt; text-align: justify">&nbsp;</P>

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

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 35.4pt">59.</TD><TD STYLE="text-align: justify"><FONT STYLE="font-variant: small-caps"><B><U>Books of Account</U></B></FONT>.</TD></TR></TABLE>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 35.45pt; text-align: justify">The Company's books of account
shall be kept at the Office of the Company, or at such other place or places as the Board of Directors may think fit, and they
shall always be open to inspection by all Directors. No shareholder, not being a Director, shall have any right to inspect any
account or book or other similar document of the Company, except as explicitly conferred by law or authorized by the Board of Directors.
The Company shall make copies of its annual financial statements available for inspection by the shareholders at the principal
offices of the Company. The Company shall not be required to send copies of its annual financial statements to the Shareholders.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 35.45pt; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 35.45pt">60.</TD><TD STYLE="text-align: justify"><FONT STYLE="font-variant: small-caps"><B><U>Auditors</U></B>.</FONT></TD></TR></TABLE>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 35.45pt; text-align: justify">The appointment, authorities,
rights and duties of the auditor(s) of the Company, shall be regulated by applicable law, provided, however, that in exercising
its authority to fix the remuneration of the auditor(s), the Shareholders in General Meeting may act (and in the absence of any
action in connection therewith shall be deemed to have so acted) to authorize the Board of Directors (with right of delegation
to a Committee thereof or to management) to fix such remuneration subject to such criteria or standards, and if no such criteria
or standards are so provided, such remuneration shall be fixed in an amount commensurate with the volume and nature of the services
rendered by such auditor(s). The General Meeting may, if so recommended by the Board of Directors, appoint the auditors for a period
that may extend until the third Annual General Meeting after the Annual General Meeting in which the auditors were appointed.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 35.45pt; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 35.45pt">61.</TD><TD STYLE="text-align: justify"><FONT STYLE="font-variant: small-caps"><B><U>Fiscal Year</U></B>.</FONT></TD></TR></TABLE>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 35.45pt; text-align: justify">The fiscal year of the Company
shall be the 12 months period ending on December 31 of each calendar year.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 35.45pt; text-align: justify"><FONT STYLE="font-variant: small-caps"><B>&nbsp;</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-variant: small-caps"><B>Supplementary
Registers</B></FONT></P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 35.4pt">62.</TD><TD STYLE="text-align: justify"><FONT STYLE="font-variant: small-caps"><B><U>Supplementary Registers</U></B></FONT>.</TD></TR></TABLE>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 35.45pt; text-align: justify; text-indent: 0in">Subject to
and in accordance with the provisions of Sections 138 and 139 of the Companies Law, the Company may cause supplementary registers
to be kept in any place outside Israel as the Board of Directors may think fit, and, subject to all applicable requirements of
law, the Board of Directors may from time to time adopt such rules and procedures as it may think fit in connection with the keeping
of such branch registers.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 35.45pt; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-variant: small-caps"><B>Exemption,
Indemnity and Insurance</B></FONT></P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 35.4pt"><FONT STYLE="font-variant: small-caps">63.</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-variant: small-caps"><B><U>Insurance</U></B>.</FONT></TD></TR></TABLE>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 35.45pt; text-align: justify">Subject to the provisions of
the Companies Law with regard to such matters and to the fullest extent permitted by the Companies Law, the Company may enter into
a contract for the insurance of the liability, in whole or in part, of any of its Office Holders imposed on such Office Holder
or expenses incurred or to be incurred due to an act performed by or an omission of the Office Holder in the Office Holder&rsquo;s
capacity as an Office Holder of the Company arising from any matter permitted by law, including the following:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 35.45pt; text-align: justify">&nbsp;</P>

<P STYLE="margin: 0pt 0 0pt 35.45pt; font: 10pt Times New Roman, Times, Serif; text-align: justify">(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
a breach of duty of care to the Company or to any other person;</P>

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

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

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




<P STYLE="margin: 0pt 0 0pt 35.45pt; font: 10pt Times New Roman, Times, Serif; text-align: justify">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
a breach of his or her duty of loyalty to the Company, provided that the Office Holder acted in good faith and had reasonable
grounds to assume that act that resulted in such breach would not prejudice the interests of the Company;</P>

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

<P STYLE="margin: 0pt 0 0pt 35.45pt; font: 10pt Times New Roman, Times, Serif; text-align: justify">(c)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
a financial liability imposed on such Office Holder in favor of any other person; and</P>

<P STYLE="margin: 0pt 0 0pt 35.45pt; font: 10pt Times New Roman, Times, Serif; text-align: justify">&nbsp;</P>

<P STYLE="margin: 0pt 0 0pt 35.45pt; font: 10pt Times New Roman, Times, Serif; text-align: justify">(d)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
any other event, occurrence, matters or circumstances under any law with respect to which the Company may, or will be able to,
insure an Office Holder, and to the extent such law requires the inclusion of a provision permitting such insurance in these Articles,
then such provision is deemed to be included and incorporated herein by reference (including, without limitation, in accordance
with Section 56h(b)(1) of the Securities Law, if and to the extent applicable, and Section 50P of the Economic Competition Law).</P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 35.4pt">64.</TD><TD STYLE="text-align: justify"><FONT STYLE="font-variant: small-caps"><B><U>Indemnity</U></B>.</FONT></TD></TR></TABLE>

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

<P STYLE="margin: 0pt 0 0pt 35.45pt; font: 10pt Times New Roman, Times, Serif; text-align: justify">(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Subject to the provisions of the Companies Law, the Company may retroactively or pursuant to an advance undertaking, indemnify
an Office Holder of the Company to the maximum extent permitted under applicable law, including with respect to the following
liabilities and expenses, provided that such liabilities or expenses were imposed on such Office Holder or incurred by such Office
Holder due to an act performed by or an omission of the Office Holder in such Office Holder&rsquo;s capacity as an Office Holder
of the Company:</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0in">(i)<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>a financial liability imposed on an Office Holder in favor of another person by any court judgment, including a judgment
given as a result of a settlement or an arbitrator&rsquo;s award which has been confirmed by a court;</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0in">(ii)<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>reasonable litigation expenses, including legal fees, expended by the Office Holder as a result of an investigation or proceeding
instituted against him or her by an authority authorized to conduct such investigation or proceeding, or in connection with a financial
sanction, provided that (1) no indictment (as defined in the Companies Law) was filed against such Office Holder as a result of
such investigation or proceeding; and (2) no financial liability in lieu of a criminal proceeding (as defined in the Companies
Law) was imposed upon him or her as a result of such investigation or proceeding or if such financial liability was imposed, it
was imposed with respect to an offense that does not require proof of criminal intent;</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0in">(iii)<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>reasonable litigation costs, including legal fees, expended by an Office Holder or which were imposed on an Office Holder
by a court in proceedings filed against the Office Holder by the Company or in its name or by any other person or in a criminal
charge in respect of which the Office Holder was acquitted or in a criminal charge in respect of which the Office Holder was convicted
for an offence which did not require proof of criminal intent; and</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0in">(iv)<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>any other event, occurrence, matter or circumstance under any law with respect to which the Company may, or will be able
to, indemnify an Office Holder, and to the extent such law requires the inclusion of a provision permitting such indemnity in these
Articles, then such provision is deemed to be included and incorporated herein by reference (including, without limitation, in
accordance with Section 56h(b)(1) of the Israeli Securities Law, if and to the extent applicable, and Section 50P(b)(2) of the
RTP Law).</P>

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

<P STYLE="margin: 0pt 0 0pt 35.45pt; font: 10pt Times New Roman, Times, Serif; text-align: justify">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Subject to the provisions of the Companies Law, the Company may undertake to indemnify an Office Holder, in advance, with respect
to those liabilities and expenses described in the following Articles:</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0in"><FONT STYLE="font-size: 10pt">(i)<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Sub-Article &#8206;<FONT STYLE="font-family: Times New Roman, Times, Serif">&#8206;</FONT></FONT>64<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#8206;</FONT>(a)(ii)
<FONT STYLE="font-size: 10pt">to &#8206;&#8206;&#8206;64&#8206;(a)(iv); and</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0in">(ii)<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Sub-Article &#8206;&#8206;&#8206;64&#8206;(a)(i), provided that:</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 106.35pt; text-align: justify; text-indent: 0in">(1)<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT>the
undertaking to indemnify is limited to such events which the Directors shall deem to be foreseeable in light of the
operations of the Company at the time that the undertaking to indemnify is made and for such amounts or criterion which the
Directors may, at the time of the giving of such undertaking to indemnify, deem to be reasonable under the circumstances;
and</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 106.35pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 106.35pt; text-align: justify"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 106.35pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 106.35pt; text-align: justify; text-indent: 0in">(2)<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>the undertaking to indemnify shall set forth such events which the Directors shall deem to be foreseeable in light of the
operations of the Company at the time that the undertaking to indemnify is made, and the amounts and/or criterion which the Directors
may, at the time of the giving of such undertaking to indemnify, deem to be reasonable under the circumstances.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 106.35pt; text-align: justify; text-indent: 0in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 35.45pt">65.</TD><TD STYLE="text-align: justify"><FONT STYLE="font-variant: small-caps"><B><U>Exemption</U></B>.</FONT></TD></TR></TABLE>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 35.45pt; text-align: justify">Subject to the provisions of
the Companies Law, the Company may, to the maximum extent permitted by law, exempt and release, in advance, any Office Holder from
any liability for damages arising out of a breach of a duty of care.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 35.45pt; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 35.45pt">66.</TD><TD STYLE="text-align: justify"><FONT STYLE="font-variant: small-caps"><B><U>General</U></B></FONT>.</TD></TR></TABLE>

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

<P STYLE="margin: 0pt 0 0pt 35.45pt; font: 10pt Times New Roman, Times, Serif; text-align: justify">(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Any amendment to the Companies Law or any other applicable law adversely affecting the right of any Office Holder to be indemnified,
insured or exempt pursuant to Articles &#8206;63 to &#8206;65 and any amendments to Articles &#8206;63 to &#8206;65 shall be prospective
in effect, and shall not affect the Company&rsquo;s obligation or ability to indemnify, insure or exempt an Office Holder for
any act or omission occurring prior to such amendment, unless otherwise provided by applicable law.</P>

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

<P STYLE="margin: 0pt 0 0pt 35.45pt; font: 10pt Times New Roman, Times, Serif; text-align: justify">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
The provisions of Articles &#8206;63 to &#8206;65 (i) shall apply to the maximum extent permitted by law (including, the Companies
Law, the Securities Law and the Economic Competition Law); and (ii) are not intended, and shall not be interpreted so as to restrict
the Company, in any manner, in respect of the procurement of insurance and/or in respect of indemnification (whether in advance
or retroactively) and/or exemption, in favor of any person who is not an Office Holder, including, without limitation, any employee,
agent, consultant or contractor of the Company who is not an Office Holder; and/or any Office Holder to the extent that such insurance
and/or indemnification is not specifically prohibited under law.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-variant: small-caps"><B>Winding
Up</B></FONT></P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 35.4pt">67.</TD><TD STYLE="text-align: justify"><FONT STYLE="font-variant: small-caps"><B><U>Winding Up</U></B></FONT>.</TD></TR></TABLE>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 35.45pt; text-align: justify">If the Company is wound up,
then, subject to applicable law and to the rights of the holders of shares with special rights upon winding up, the assets of the
Company available for distribution among the Shareholders shall be distributed to them in proportion to the number of issued and
outstanding shares held by each Shareholder.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 35.45pt; text-align: justify">&nbsp;</P>

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

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 35.4pt">68.</TD><TD STYLE="text-align: justify"><FONT STYLE="font-variant: small-caps"><B><U>Notices</U></B></FONT>.</TD></TR></TABLE>

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

<P STYLE="margin: 0pt 0 0pt 35.4pt; font: 10pt Times New Roman, Times, Serif; text-align: justify">(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Any written notice or other document may be served by the Company upon any Shareholder either personally, by facsimile, email
or other electronic transmission, or by sending it by prepaid mail (airmail if sent internationally) addressed to such Shareholder
at his or her address as described in the Register of Shareholders or such other address as the Shareholder may have designated
in writing for the receipt of notices and other documents.</P>

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

<P STYLE="margin: 0pt 0 0pt 35.4pt; font: 10pt Times New Roman, Times, Serif; text-align: justify">(b)
 &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Any written notice or other document may be served by any Shareholder upon the Company by tendering the same in person to the
Secretary or the Chief Executive Officer of the Company at the principal office of the Company, by facsimile transmission, or
by sending it by prepaid registered mail (airmail if posted outside Israel) to the Company at its Office.</P>

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

<P STYLE="margin: 0pt 0 0pt 35.4pt; font: 10pt Times New Roman, Times, Serif; text-align: justify">(c)
 &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Any such notice or other document shall be deemed to have been served:</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0in">(i)<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>in the case of mailing, forty-eight (48) hours after it has been posted, or when actually received by the addressee if sooner
than forty-eight hours after it has been posted, or</P>

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

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

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




<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0in">(ii)<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT> in the case of overnight air courier, on the next business day following the day sent, with receipt confirmed by the courier,
or when actually received by the addressee if sooner than three business days after it has been sent;</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0in">(iii)<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>in the case of personal delivery, when actually tendered in person, to such addressee;</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0in">(iv)<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>in the case of facsimile, email or other electronic transmission, on the first business day (during normal business hours
in place of addressee) on which the sender receives automatic electronic confirmation by the addressee&rsquo;s facsimile machine
that such notice was received by the addressee or delivery confirmation from the addressee&rsquo;s email or other communication
server.</P>

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

<P STYLE="margin: 0pt 0 0pt 35.4pt; font: 10pt Times New Roman, Times, Serif; text-align: justify"><FONT STYLE="font-size: 10pt">(d)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
If a notice is, in fact, received by the addressee, it shall be deemed to have been duly served, when received, notwithstanding
that it was defectively addressed or failed, in some other respect, to comply with the provisions of this Article &#8206;</FONT>68<FONT STYLE="font-size: 10pt">&#8206;.</FONT></P>

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

<P STYLE="margin: 0pt 0 0pt 35.4pt; font: 10pt Times New Roman, Times, Serif; text-align: justify">(e)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
All notices to be given to the Shareholders shall, with respect to any share to which persons are jointly entitled, be given to
whichever of such persons is named first in the Register of Shareholders, and any notice so given shall be sufficient notice to
the holders of such share.</P>

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

<P STYLE="margin: 0pt 0 0pt 35.4pt; font: 10pt Times New Roman, Times, Serif; text-align: justify">(f)
 &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Any Shareholder whose address is not described in the Register of Shareholders, and who shall not have designated in writing an
address for the receipt of notices, shall not be entitled to receive any notice from the Company.</P>

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

<P STYLE="margin: 0pt 0 0pt 35.4pt; font: 10pt Times New Roman, Times, Serif; text-align: justify">(g)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Notwithstanding anything to the contrary contained herein, notice by the Company of a General Meeting, containing the information
required by applicable law and these Articles to be set forth therein, which is published, within the time otherwise required
for giving notice of such meeting, in either or several of the following manners (as applicable) shall be deemed to be notice
of such meeting duly given, for the purposes of these Articles, to any Shareholder whose address as registered in the Register
of Shareholders (or as designated in writing for the receipt of notices and other documents) is located either inside or outside
the State of Israel:</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0in">(i)<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>if the Company&rsquo;s shares are then listed for trading on a national securities exchange in the United States or quoted
in an over-the-counter market in the United States, publication of notice of a General Meeting pursuant to a report or schedule
filed with, or furnished to, the SEC pursuant to the Securities Exchange Act of 1934, as amended; and/or</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0in">(ii)<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>on the Company&rsquo;s internet site.</P>

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

<P STYLE="margin: 0pt 0 0pt 35.4pt; font: 10pt Times New Roman, Times, Serif; text-align: justify">(h)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
The mailing or publication date and the record date and/or date of the meeting (as applicable) shall be counted among the days
comprising any notice period under the Companies Law and the regulations thereunder.</P>

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

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

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 35.4pt">69.</TD><TD STYLE="text-align: justify"><FONT STYLE="font-variant: small-caps"><B><U>Amendment</U></B></FONT>.</TD></TR></TABLE>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 35.4pt; text-align: justify">Any amendment of these Articles
shall require, in addition to the approval of the General Meeting of shareholders in accordance with these Articles, also the approval
of the Board of Directors with the affirmative vote of a majority of the then serving Directors.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-variant: small-caps"><B>Forum
for Adjudication of Disputes</B></FONT></P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 35.4pt">70.</TD><TD STYLE="text-align: justify"><FONT STYLE="font-variant: small-caps"><B><U>Forum for Adjudication of Disputes</U></B></FONT>.</TD></TR></TABLE>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 35.4pt; text-align: justify">(a) &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Unless the Company
consents in writing to the selection of an alternative forum, with respect to any causes of action arising under the U.S.
Securities Act of 1933, as amended, the federal district courts of the United States of America shall be the exclusive forum
for the resolution of any complaint asserting a cause of action arising under the U.S. Securities Act of 1933, as amended;
and (b) unless the Company consents in writing to the selection of an alternative forum, the competent courts in Tel Aviv,
Israel shall be the exclusive forum for (i)&nbsp;any derivative action or proceeding brought on behalf of the Company,
(ii)&nbsp;any action asserting a claim of breach of a fiduciary duty owed by any director, officer or other employee of the
Company to the Company or the Company&rsquo;s shareholders, or (iii)&nbsp;any action asserting a claim arising pursuant to
any provision of the Companies Law or the Securities Law. Any person or entity purchasing or otherwise acquiring&nbsp;or
holding&nbsp;any interest in&nbsp;shares of the Company shall be deemed to have notice of and consented to these
provisions<FONT STYLE="font-size: 10pt">.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 35.4pt; text-align: justify">&nbsp;</P>

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

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

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</DOCUMENT>
<DOCUMENT>
<TYPE>EX-10.1
<SEQUENCE>3
<FILENAME>tm219877d1_ex10-1.htm
<DESCRIPTION>EXHIBIT 10.1
<TEXT>
<HTML>
<HEAD>
     <TITLE></TITLE>
</HEAD>
<BODY STYLE="font: 10pt Times New Roman, Times, Serif">

<P STYLE="font-size: 10pt; margin: 0pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="text-align: right; margin: 0pt; font-size: 10pt"><FONT STYLE="font-size: 10pt"><B>Exhibit 10.1</B>&nbsp;</FONT></P>

<P STYLE="margin: 0pt; font-size: 10pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="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-size: 10pt">This
Securities Purchase Agreement (this &ldquo;<U>Agreement</U>&rdquo;) is dated as of March [__], 2021, between Anchiano Therapeutics
Ltd., a company organized under the laws of Israel (the &ldquo;<U>Company</U>&rdquo;), and each purchaser identified on the signature
pages hereto (each, including its successors and assigns, a &ldquo;<U>Purchaser</U>&rdquo; and collectively, the &ldquo;<U>Purchasers</U>&rdquo;).</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">&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-size: 10pt">WHEREAS,
on December 14, 2020, the Company, CMB Acquisition Ltd, an Israeli private company and wholly owned subsidiary of the Company
(&ldquo;<U>Merger Sub</U>&rdquo;), and Chemomab Ltd., an Israeli private company (&ldquo;<U>Chemomab</U>&rdquo;), entered into
that certain Agreement and Plan of Merger (as amended, modified, supplemented or waived from time to time in accordance with its
terms, the &ldquo;<U>Merger Agreement</U>&rdquo;), pursuant to which, <I>inter alia</I>, Merger Sub will be merged with and into
Chemomab, with Chemomab surviving as a wholly owned subsidiary of the Company (the &ldquo;<U>Business Combination</U>&rdquo;),
on the terms and subject to the conditions set forth therein (the Business Combination, together with the other transactions contemplated
by the Merger Agreement (excluding this financing), the &ldquo;<U>Transactions</U>&rdquo;); and</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">&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-size: 10pt">WHEREAS,
subject to and immediately following the completion of the Transaction, each Purchaser desires to subscribe for and purchase such
number of ADSs (as defined herein) for a purchase price equal to the Purchase Price (as defined herein) for the aggregate purchase
price set forth on Purchaser&rsquo;s signature page hereto, and the Company desires to issue and sell to Purchaser such number
of ADSs in consideration for the payment of the Purchase Price therefor by or on behalf of Purchaser to the Company, all on the
terms and conditions set forth herein; and</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">&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-size: 10pt">WHEREAS,
in connection with the issuance of such number of ADSs to the Purchasers, subject to and contingent upon the Closing, the Company
shall additionally issue to each Purchaser (i) one Discount Warrant, and (ii) one Anti-Dilution Warrant (as defined below), (affording
each such Purchaser with anti-dilution rights due to any exercise (if at all) of the Chemomab Warrants, as defined below) each
as defined herein and substantially in accordance with the terms set forth herein and in the forms of such warrants, attached
hereto as <U>Exhibit </U>C and <U>Exhibit D</U>, respectively; and</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">&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-size: 10pt">WHEREAS,
in connection with Merger Agreement, the Company will issue to Chemomab&rsquo;s shareholders certain indemnification warrants
in the form attached hereto as <U>Exhibit B</U> (the &ldquo;<U>Chemomab Warrants</U>&rdquo;), entitling them to purchase additional
ADSs in the event of occurrence of a Triggering Event (as such term defined in the Chemomab Warrants); and</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">&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-size: 10pt">WHEREAS,
subject to the terms and conditions set forth in this Agreement and pursuant to Section 4(a)(2) of the Securities Act of 1933,
as amended (the &ldquo;<U>Securities Act</U>&rdquo;), and Rule 506 promulgated thereunder, or, in the alternative, Regulation
S promulgated under the Securities Act, at and subject to the Closing, the Company desires to issue and sell to each Purchaser,
and each Purchaser, severally and not jointly, desires to purchase from the Company, such Securities of the Company as more fully
described in this Agreement.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">&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-size: 10pt">NOW,
THEREFORE, IN CONSIDERATION of the mutual covenants contained in this Agreement, and for other good and valuable consideration,
the receipt and adequacy of which are hereby acknowledged, the Company and each Purchaser agree as follows:</FONT></P>

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 57pt; text-align: justify"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="font-size: 10pt; vertical-align: top">
<TD STYLE="font-size: 10pt; width: 0.25in"></TD><TD STYLE="font-size: 10pt; width: 0.25in"><FONT STYLE="font-size: 10pt">1.</FONT></TD><TD STYLE="font-size: 10pt; text-align: justify"><FONT STYLE="font-size: 10pt"><U>Definitions</U>.
                                         In addition to the terms defined elsewhere in this Agreement, for all purposes of this
                                         Agreement, the following terms have the meanings set forth in this Section &#8206;1:</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">&ldquo;<U>Action</U>&rdquo;
shall have the meaning ascribed to such term in Section &#8206;5.j.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">&ldquo;<U>ADS(s)</U>&rdquo;
means American Depositary Shares issued pursuant to the Deposit Agreement (as defined below), each representing five (5) Ordinary
Shares subject to adjustment for reverse and forward share splits, share dividends, share combinations and other similar transactions
of the ADSs or Ordinary Shares (including, change of ratio of ADS(s) to ordinary shares) that occur after the date of this Agreement.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">&ldquo;<U>Affiliate</U>&rdquo;
means any Person that, directly or indirectly through one or more intermediaries, controls or is controlled by or is under common
control with a Person, as such terms are used in and construed under Rule 405 under the Securities Act.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">&ldquo;<U>Anti-Dilution
Warrant</U>&rdquo; means a warrant to purchase such number of up to the Holder's Pro Rata Share (as such term defined thereto),
substantially in accordance with the terms set forth in the form Anti-Dilution Warrant attached hereto as <U>Exhibit D</U>.&nbsp;</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">&ldquo;<U>Board
of Directors</U>&rdquo; means the board of directors of the Company.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">&ldquo;<U>Business
Day</U>&rdquo; means any day other than a Friday, Saturday or other day on which banks in Tel Aviv, Israel are authorized or obligated
by Law to be closed.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">&ldquo;<U>Closing</U>&rdquo;
means the closing of the purchase and sale of the Securities pursuant to Section &#8206;2.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">&ldquo;<U>Closing
Date</U>&rdquo; means the Trading Day on which all of the Transaction Documents have been executed and delivered by the applicable
parties thereto and simultaneously with the closing of the Transactions under the Merger Agreement, and all conditions precedent
to (i) the Purchasers&rsquo; obligations to pay the Subscription Amount and (ii) the Company&rsquo;s obligations to deliver the
Securities, in each case, have been satisfied or waived.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">&ldquo;<U>Commission</U>&rdquo;
means the United States Securities and Exchange Commission.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">&ldquo;<U>Deposit
Agreement</U>&rdquo; means the Deposit Agreement dated as of February 14, 2019, among the Company, The Bank of New York Mellon
as Depositary and the owners and holders of ADSs from time to time, as such agreement may be amended or supplemented.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">&ldquo;<U>Depositary</U>&rdquo;
means The Bank of New York Mellon, as Depositary under the Deposit Agreement.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">&ldquo;<U>Disclosure
Schedules</U>&rdquo; means the Disclosure Schedules of the Company delivered concurrently herewith.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">&ldquo;<U>Disclosure
Time</U>&rdquo; means, (i) if this Agreement is signed on a day that is not a Trading Day or after 9:00 a.m. (New York City time)
and before midnight (New York City time) on any Trading Day, 9:01 a.m. (New York City time) on the Trading Day immediately following
the date hereof, and (ii) if this Agreement is signed between midnight (New York City time) and 9:00 a.m. (New York City time)
on any Trading Day, no later than 9:01 a.m. (New York City time) on the date hereof.</FONT></P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">&ldquo;<U>Discount
Warrants</U>&rdquo;&nbsp;means a warrant to purchase ADSs representing 10% of the number of ADSs such Purchaser has purchased
pursuant to the Purchase Price, and as delivered to such Purchaser at the Closing in accordance with Section &#8206;3.a.iii hereof,
which warrant shall be exercisable for a period of five years from the Closing and shall have an exercise price of $1.08443 (subject
to adjustment for reverse and forward share splits, share dividends, share combinations and other similar transactions of the
ADSs or Ordinary Shares (including, change of ratio of ADS(s) to ordinary shares) that occur after the date of this Agreement),
and substantially in accordance with the terms set forth in the form attached hereto as&nbsp;<U>Exhibit&nbsp;</U>C.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">&ldquo;<U>Effective
Date</U>&rdquo; means the earliest of the date that (a) the initial Registration Statement has been declared effective by the
Commission, (b) all of the Shares and Warrant Shares have been sold pursuant to Rule 144 or may be sold pursuant to Rule 144 without
the requirement for the Company to be in compliance with the current public information required under Rule 144 and without volume
or manner-of-sale restrictions, (c) the one year anniversary of the Closing Date provided that a holder of the Shares and Warrant
Shares is not an Affiliate of the Company or (d) all of the Shares and Warrant Shares may be sold pursuant to an exemption from
registration under Section 4(a)(1) of the Securities Act without volume or manner-of-sale restrictions and Company Counsel has
delivered to such holders a standing written unqualified opinion that resales may then be made by such holders of the Shares and
Warrant Shares pursuant to such exemption which opinion shall be in form and substance reasonably acceptable to such holders.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">&ldquo;<U>Evaluation
Date</U>&rdquo; shall have the meaning ascribed to such term in Section &#8206;5.l.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">&ldquo;<U>Exchange
Act</U>&rdquo; means the Securities Exchange Act of 1934, as amended, and the rules and regulations promulgated thereunder.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">&quot;Filing
Date&quot;&nbsp;shall have the meaning ascribed to such term in Section &#8206;18.a.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">&ldquo;<U>FCPA</U>&rdquo;
means the Foreign Corrupt Practices Act of 1977, as amended.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">&ldquo;<U>GAAP</U>&rdquo;
shall have the meaning ascribed to such term in Section &#8206;5.h.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">&ldquo;<U>Intellectual
Property Rights</U>&rdquo; shall have the meaning ascribed to such term in Section &#8206;5.k.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">&ldquo;<U>Liens</U>&rdquo;
means a lien, charge, pledge, security interest, encumbrance, right of first refusal, preemptive right or other restriction.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">&ldquo;<U>Material
Adverse Effect</U>&rdquo; shall have the meaning assigned to such term in Section &#8206;5.b.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">&ldquo;<U>Ordinary
Share(s)</U>&rdquo; means the ordinary shares of the Company, no par value, and any other class of securities into which such
securities may hereafter be reclassified or changed.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">&ldquo;<U>Ordinary
Share Equivalents</U>&rdquo; means any securities of the Company which would entitle the holder thereof to acquire at any time
Ordinary Shares or ADSs, including, without limitation, any debt, preferred stock, right, option, warrant or other instrument
that is at any time convertible into or exercisable or exchangeable for, or otherwise entitles the holder thereof to receive,
Ordinary Shares or ADSs.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">&ldquo;<U>Purchase
Price</U>&rdquo; equals to $1.08443 per ADS, subject to adjustment for reverse and forward share splits, share dividends,
share combinations and other similar transactions of the ADSs or Ordinary Shares (including, change of ratio of ADS(s) to
ordinary shares) that occur after the date of this Agreement.</FONT></P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">&ldquo;<U>Person</U>&rdquo;
means an individual or corporation, partnership, trust, incorporated or unincorporated association, joint venture, limited liability
company, joint stock company, government (or an agency or subdivision thereof) or other entity of any kind.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">&ldquo;<U>Proceeding</U>&rdquo;
means an action, claim, suit, investigation or proceeding (including, without limitation, an informal investigation or partial
proceeding, such as a deposition), whether commenced or threatened.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">&ldquo;<U>Purchaser
Party</U>&rdquo; shall have the meaning ascribed to such term in Section &#8206;13.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">&nbsp;&#9;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">&ldquo;<U>Registration
Rights</U>&rdquo; shall have the meaning ascribed to such term in Section &#8206;18.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">&ldquo;<U>Registration
Statement</U>&rdquo; means a registration statement on Form S-1 (or F-1, if applicable), or on Form S-3 (or F-3, if applicable),
if eligible, meeting the requirements set forth in the Registration Rights and covering the resale of the Shares and the Warrant
Shares by each Purchaser as provided for in the Registration Rights.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">&ldquo;<U>Required
Approvals</U>&rdquo; shall have the meaning ascribed to such term in Section &#8206;6.e.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">&ldquo;<U>Rule
144</U>&rdquo; means Rule 144 promulgated by the Commission pursuant to the Securities Act, as such Rule may be amended or interpreted
from time to time, or any similar rule or regulation hereafter adopted by the Commission having substantially the same purpose
and effect as such Rule.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">&ldquo;<U>Rule
424</U>&rdquo; means Rule 424 promulgated by the Commission pursuant to the Securities Act, as such Rule may be amended or interpreted
from time to time, or any similar rule or regulation hereafter adopted by the Commission having substantially the same purpose
and effect as such Rule.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">&ldquo;<U>SEC
Reports</U>&rdquo; shall have the meaning ascribed to such term in Section &#8206;6.h.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">&ldquo;<U>Securities</U>&rdquo;
means the ADS(s), the Warrants, and the Warrant Shares.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">&ldquo;<U>Securities
Act</U>&rdquo; means the Securities Act of 1933, as amended, and the rules and regulations promulgated thereunder.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">&ldquo;<U>Selling
Shareholder Questionnaire</U>&rdquo; means the selling shareholder questionnaire in the form of&nbsp;<U>Exhibit&nbsp;A</U> attached
hereto.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">&ldquo;<U>Shares</U>&rdquo;
means the Ordinary Shares, as represented by ADSs, issued pursuant to the Deposit Agreement, each ADS representing five (5) Ordinary
Shares, issued and issuable to each Purchaser pursuant to this Agreement; subject to adjustment for reverse and forward share
splits, share dividends, share combinations and other similar transactions of the ADSs or Ordinary Shares (including, change of
ratio of ADS(s) to ordinary shares) that occur after the date of this Agreement.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">&ldquo;<U>Short
Sales</U>&rdquo; means all &ldquo;short sales&rdquo; as defined in Rule 200 of Regulation SHO under the Exchange Act (but shall
not be deemed to include locating and/or borrowing Ordinary Shares and/or ADSs).&nbsp;</FONT></P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">&ldquo;<U>Subscription
Amount</U>&rdquo; means, as to each Purchaser, the aggregate amount to be paid for Shares and Warrants purchased hereunder as
specified below such Purchaser&rsquo;s name on the signature page of this Agreement and next to the heading &ldquo;Subscription
Amount,&rdquo; in United States dollars and in immediately available funds.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">&ldquo;<U>Subsidiary</U>&rdquo;
means any subsidiary of the Company as set forth on&nbsp;<U>Schedule 3.1(a)</U>&nbsp;and shall, where applicable, also include
any direct or indirect subsidiary of the Company formed or acquired after the date hereof.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">&ldquo;<U>Trading
Day</U>&rdquo; means a day on which the principal Trading Market is open for trading.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">&ldquo;<U>Trading
Market</U>&rdquo; means any of the following markets or exchanges on which the Ordinary Shares and/or ADSs are listed or quoted
for trading on the date in question: the NYSE American, the Nasdaq Capital Market, the Nasdaq Global Market, the Nasdaq Global
Select Market or the New York Stock Exchange, OTCQB or OTCQX (or any successors to any of the foregoing).</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">&ldquo;<U>Transaction
Documents</U>&rdquo; means this Agreement, the Warrants and all exhibits and schedules thereto and hereto and any other documents
or agreements executed in connection with the transactions contemplated hereunder.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">&ldquo;<U>Transfer
Agent</U>&rdquo; means Computershare Inc., the current transfer agent of the Company and any successor transfer agent of the Company.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">&ldquo;<U>Warrants</U>&rdquo;
means, collectively, Anti-Dilution Warrants and Discount Warrants.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">&ldquo;<U>Warrant
Shares</U>&rdquo; means the ADSs issuable upon exercise of the Warrants.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-size: 10pt"><B><U>Purchase
and Sale</U></B>.</FONT></P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="font-size: 10pt; vertical-align: top">
<TD STYLE="font-size: 10pt; width: 0.25in"></TD><TD STYLE="font-size: 10pt; width: 0.25in"><FONT STYLE="font-size: 10pt">2.</FONT></TD><TD STYLE="font-size: 10pt; text-align: justify"><FONT STYLE="font-size: 10pt"><U>Closing</U>.
                                         On the Closing Date, upon the terms and subject to the conditions set forth herein, the
                                         Company agrees to sell, and the Purchasers, severally and not jointly, agree to invest
                                         up to an aggregate of $50,000,000 (including the proceeds of the related Discount Warrants)
                                         in exchange for the issuance of such number of ADSs pursuant to the terms set forth herein.
                                         Each Purchaser shall deliver to the Company, via wire transfer or a certified check,
                                         immediately available funds equal to such Purchaser&rsquo;s Subscription Amount as set
                                         forth on the signature page hereto executed by such Purchaser, and the Company shall
                                         deliver to each Purchaser its respective <U>ADS(s)</U>and Warrants, as determined pursuant
                                         to Section &#8206;3.a, and the Company and each Purchaser shall deliver the other items
                                         set forth in Section &#8206;3 deliverable at the Closing. Upon satisfaction of the covenants
                                         and conditions set forth in Sections &#8206;3 and &#8206;4, the Closing shall occur at
                                         the offices of Company Counsel or such other location as the parties shall mutually agree.</FONT></TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="font-size: 10pt; vertical-align: top">
<TD STYLE="font-size: 10pt; width: 0.25in"></TD><TD STYLE="font-size: 10pt; width: 0.25in"><FONT STYLE="font-size: 10pt">3.</FONT></TD><TD STYLE="font-size: 10pt; text-align: justify"><FONT STYLE="font-size: 10pt"><U>Deliveries</U>.</FONT></TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="font-size: 10pt; vertical-align: top">
<TD STYLE="font-size: 10pt; width: 0.75in"></TD><TD STYLE="font-size: 10pt; width: 0.25in"><FONT STYLE="font-size: 10pt">a.</FONT></TD><TD STYLE="font-size: 10pt; text-align: justify"><FONT STYLE="font-size: 10pt">On
                                         or prior to the Closing Date, the Company shall deliver or cause to be delivered to each
                                         Purchaser the following:</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 2in; text-align: justify; text-indent: -0.5in"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="font-size: 10pt; vertical-align: top">
<TD STYLE="font-size: 10pt; width: 1.35in"></TD><TD STYLE="font-size: 10pt; width: 0.25in"><FONT STYLE="font-size: 10pt">i.</FONT></TD><TD STYLE="font-size: 10pt; text-align: justify"><FONT STYLE="font-size: 10pt">this
                                         Agreement duly executed by the Company;</FONT></TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="font-size: 10pt; vertical-align: top">
<TD STYLE="font-size: 10pt; width: 1.35in"></TD><TD STYLE="font-size: 10pt; width: 0.25in"><FONT STYLE="font-size: 10pt">ii.</FONT></TD><TD STYLE="font-size: 10pt; text-align: justify"><FONT STYLE="font-size: 10pt">a
                                         copy of the delivery order to the Depositary instructing the Depositary to deliver uncertificated
                                         Shares, in book-entry form, equal to such Purchaser&rsquo;s Subscription Amount divided
                                         by the Purchase Price, registered in the name of such Purchaser and evidence of the book-entry
                                         from the Depositary for such Purchaser&rsquo;s Shares;</FONT></TD></TR></TABLE>

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

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

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="font-size: 10pt; vertical-align: top">
<TD STYLE="font-size: 10pt; width: 1.35in"></TD><TD STYLE="font-size: 10pt; width: 0.25in"><FONT STYLE="font-size: 10pt">iii.</FONT></TD><TD STYLE="font-size: 10pt; text-align: justify"><FONT STYLE="font-size: 10pt">an
                                         Anti-Dilution Warrant registered in the name of such Purchaser, each to purchase up to
                                         a number of ADSs set forth in the Anti-Dilution Warrant;</FONT></TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="font-size: 10pt; vertical-align: top">
<TD STYLE="font-size: 10pt; width: 1.35in"></TD><TD STYLE="font-size: 10pt; width: 0.25in"><FONT STYLE="font-size: 10pt">iv.</FONT></TD><TD STYLE="font-size: 10pt; text-align: justify"><FONT STYLE="font-size: 10pt">a Discount
                                         Warrant registered in the name of such Purchaser;</FONT></TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="font-size: 10pt; vertical-align: top">
<TD STYLE="font-size: 10pt; width: 1.35in"></TD><TD STYLE="font-size: 10pt; width: 0.25in"><FONT STYLE="font-size: 10pt">v.</FONT></TD><TD STYLE="font-size: 10pt; text-align: justify"><FONT STYLE="font-size: 10pt">a legal
                                         opinion of each of Company U.S counsel and Israeli Company counsel in the forms reasonably
                                         acceptable to the Placement Agent and the Purchasers; and</FONT></TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="font-size: 10pt; vertical-align: top">
<TD STYLE="font-size: 10pt; width: 1.35in"></TD><TD STYLE="font-size: 10pt; width: 0.25in"><FONT STYLE="font-size: 10pt">vi.</FONT></TD><TD STYLE="font-size: 10pt; text-align: justify"><FONT STYLE="font-size: 10pt">the
                                         Company&rsquo;s wiring instructions, as set forth in Exhibit E.</FONT></TD></TR></TABLE>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-size: 10pt">The Company
shall provide a written notice at least five (5) Business Days prior to the date that the Company reasonably expects all conditions
to the closing of the Transactions to be satisfied.</FONT></P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="font-size: 10pt; vertical-align: top">
<TD STYLE="font-size: 10pt; width: 0.75in"></TD><TD STYLE="font-size: 10pt; width: 0.25in"><FONT STYLE="font-size: 10pt">b.</FONT></TD><TD STYLE="font-size: 10pt; text-align: justify"><FONT STYLE="font-size: 10pt">On
                                         or prior to the Closing Date, each Purchaser shall deliver or cause to be delivered to
                                         the Company, as applicable, the following:</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 2in; text-align: justify; text-indent: -0.5in"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="font-size: 10pt; vertical-align: top">
<TD STYLE="font-size: 10pt; width: 1.35in"></TD><TD STYLE="font-size: 10pt; width: 0.25in"><FONT STYLE="font-size: 10pt">i.</FONT></TD><TD STYLE="font-size: 10pt; text-align: justify"><FONT STYLE="font-size: 10pt">this
                                         Agreement duly executed by such Purchaser;</FONT></TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="font-size: 10pt; vertical-align: top">
<TD STYLE="font-size: 10pt; width: 1.35in"></TD><TD STYLE="font-size: 10pt; width: 0.25in"><FONT STYLE="font-size: 10pt">ii.</FONT></TD><TD STYLE="font-size: 10pt; text-align: justify"><FONT STYLE="font-size: 10pt">such
                                         Purchaser&rsquo;s Subscription Amount by wire transfer to the account specified in writing
                                         by the Company; and</FONT></TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="font-size: 10pt; vertical-align: top">
<TD STYLE="font-size: 10pt; width: 1.35in"></TD><TD STYLE="font-size: 10pt; width: 0.25in"><FONT STYLE="font-size: 10pt">iii.</FONT></TD><TD STYLE="font-size: 10pt; text-align: justify"><FONT STYLE="font-size: 10pt">such
                                         Purchaser&rsquo;s completed and duly executed Selling Shareholder Questionnaire.</FONT></TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="font-size: 10pt; vertical-align: top">
<TD STYLE="font-size: 10pt; width: 0.25in"></TD><TD STYLE="font-size: 10pt; width: 0.25in"><FONT STYLE="font-size: 10pt">4.</FONT></TD><TD STYLE="font-size: 10pt; text-align: justify"><FONT STYLE="font-size: 10pt"><U>Closing
                                         Conditions.</U></FONT></TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="font-size: 10pt; vertical-align: top">
<TD STYLE="font-size: 10pt; width: 0.75in"></TD><TD STYLE="font-size: 10pt; width: 0.25in"><FONT STYLE="font-size: 10pt">a.</FONT></TD><TD STYLE="font-size: 10pt; text-align: justify"><FONT STYLE="font-size: 10pt">The
                                         obligations of the Company hereunder in connection with the Closing are subject to the
                                         following conditions being met:</FONT></TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="font-size: 10pt; vertical-align: top">
<TD STYLE="font-size: 10pt; width: 1.35in"></TD><TD STYLE="font-size: 10pt; width: 0.25in"><FONT STYLE="font-size: 10pt">i.</FONT></TD><TD STYLE="font-size: 10pt; text-align: justify"><FONT STYLE="font-size: 10pt">The accuracy
                                         in all material respects (or, to the extent representations or warranties are qualified
                                         by materiality or Material Adverse Effect, in all respects) when made and on the Closing
                                         Date of the representations and warranties of the Purchasers contained herein (unless
                                         as of a specific date therein in which case they shall be accurate as of such date);</FONT></TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="font-size: 10pt; vertical-align: top">
<TD STYLE="font-size: 10pt; width: 1.35in"></TD><TD STYLE="font-size: 10pt; width: 0.25in"><FONT STYLE="font-size: 10pt">ii.</FONT></TD><TD STYLE="font-size: 10pt; text-align: justify"><FONT STYLE="font-size: 10pt">The
                                         Business Combination set forth in the Merger Agreement shall have been or will be consummated
                                         concurrently with the Closing;</FONT></TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="font-size: 10pt; vertical-align: top">
<TD STYLE="font-size: 10pt; width: 1.35in"></TD><TD STYLE="font-size: 10pt; width: 0.25in"><FONT STYLE="font-size: 10pt">iii.</FONT></TD><TD STYLE="font-size: 10pt; text-align: justify"><FONT STYLE="font-size: 10pt">All
                                         obligations, covenants and agreements of each Purchaser required to be performed at or
                                         prior to the Closing Date shall have been performed; and</FONT></TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="font-size: 10pt; vertical-align: top">
<TD STYLE="font-size: 10pt; width: 1.35in"></TD><TD STYLE="font-size: 10pt; width: 0.25in"><FONT STYLE="font-size: 10pt">iv.</FONT></TD><TD STYLE="font-size: 10pt; text-align: justify"><FONT STYLE="font-size: 10pt">The
                                         delivery by each Purchaser of the items set forth in Section &#8206;3.b of this Agreement.</FONT></TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="font-size: 10pt; vertical-align: top">
<TD STYLE="font-size: 10pt; width: 0.75in"></TD><TD STYLE="font-size: 10pt; width: 0.25in"><FONT STYLE="font-size: 10pt">b.</FONT></TD><TD STYLE="font-size: 10pt; text-align: justify"><FONT STYLE="font-size: 10pt">The
                                         respective obligations of the Purchasers hereunder in connection with the Closing are
                                         subject to the following conditions being met:</FONT></TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="font-size: 10pt; vertical-align: top">
<TD STYLE="font-size: 10pt; width: 1.35in"></TD><TD STYLE="font-size: 10pt; width: 0.25in"><FONT STYLE="font-size: 10pt">i.</FONT></TD><TD STYLE="font-size: 10pt; text-align: justify"><FONT STYLE="font-size: 10pt">The
                                         accuracy in all material respects (or, to the extent representations or warranties are
                                         qualified by materiality or Material Adverse Effect, in all respects) when made and on
                                         the Closing Date of the representations and warranties of the Company contained herein
                                         (unless as of a specific date therein in which case they shall be accurate as of such
                                         date);</FONT></TD></TR></TABLE>

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

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

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="font-size: 10pt; vertical-align: top">
<TD STYLE="font-size: 10pt; width: 1.35in"></TD><TD STYLE="font-size: 10pt; width: 0.25in"><FONT STYLE="font-size: 10pt">ii.</FONT></TD><TD STYLE="font-size: 10pt; text-align: justify"><FONT STYLE="font-size: 10pt">The
                                         Business Combination set forth in the Merger Agreement shall have been or will be consummated
                                         concurrently with the Closing;</FONT></TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="font-size: 10pt; vertical-align: top">
<TD STYLE="font-size: 10pt; width: 1.35in"></TD><TD STYLE="font-size: 10pt; width: 0.25in"><FONT STYLE="font-size: 10pt">iii.</FONT></TD><TD STYLE="font-size: 10pt; text-align: justify"><FONT STYLE="font-size: 10pt">All
                                         obligations, covenants and agreements of the Company required to be performed at or prior
                                         to the Closing Date shall have been performed;</FONT></TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="font-size: 10pt; vertical-align: top">
<TD STYLE="font-size: 10pt; width: 1.35in"></TD><TD STYLE="font-size: 10pt; width: 0.25in"><FONT STYLE="font-size: 10pt">iv.</FONT></TD><TD STYLE="font-size: 10pt; text-align: justify"><FONT STYLE="font-size: 10pt">The
                                         delivery by the Company of the items set forth in Section &#8206;3.a of this Agreement;</FONT></TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="font-size: 10pt; vertical-align: top">
<TD STYLE="font-size: 10pt; width: 1.35in"></TD><TD STYLE="font-size: 10pt; width: 0.25in"><FONT STYLE="font-size: 10pt">v.</FONT></TD><TD STYLE="font-size: 10pt; text-align: justify"><FONT STYLE="font-size: 10pt">There
                                         shall have been no Material Adverse Effect with respect to the Company since the date
                                         hereof; and</FONT></TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="font-size: 10pt; vertical-align: top">
<TD STYLE="font-size: 10pt; width: 1.35in"></TD><TD STYLE="font-size: 10pt; width: 0.25in"><FONT STYLE="font-size: 10pt">vi.</FONT></TD><TD STYLE="font-size: 10pt; text-align: justify"><FONT STYLE="font-size: 10pt">From
                                         the date hereof to the Closing Date, trading in the ADSs or in the Ordinary Shares shall
                                         not have been suspended by the Commission or any Trading Market.</FONT></TD></TR></TABLE>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-size: 10pt"><B><U>Representations
and Warranties</U></B><U><I>.&nbsp;</I></U></FONT></P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="font-size: 10pt; vertical-align: top">
<TD STYLE="font-size: 10pt; width: 0.25in"></TD><TD STYLE="font-size: 10pt; width: 0.25in"><FONT STYLE="font-size: 10pt">5.</FONT></TD><TD STYLE="font-size: 10pt; text-align: justify"><FONT STYLE="font-size: 10pt"><U>Representations
                                         and Warranties of the Company</U>. Except as set forth in the Disclosure Schedules, which
                                         Disclosure Schedules shall be deemed a part hereof and shall qualify any representation
                                         or otherwise made herein to the extent of the disclosure contained in the corresponding
                                         section of the Disclosure Schedules, the Company hereby makes the following representations
                                         and warranties to each Purchaser:</FONT></TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="font-size: 10pt; vertical-align: top">
<TD STYLE="font-size: 10pt; width: 0.75in"></TD><TD STYLE="font-size: 10pt; width: 0.25in"><FONT STYLE="font-size: 10pt">a.</FONT></TD><TD STYLE="font-size: 10pt; text-align: justify"><FONT STYLE="font-size: 10pt"><U>Subsidiaries</U>.
                                         All of the direct and indirect subsidiaries of the Company are set forth on&nbsp;<U>Schedule
                                         3.1(a)</U>. The Company owns, directly or indirectly, all of the capital stock or other
                                         equity interests of each Subsidiary free and clear of any Liens, and all of the issued
                                         and outstanding shares of capital stock of each Subsidiary are validly issued and are
                                         fully paid, non-assessable and free of preemptive and similar rights to subscribe for
                                         or purchase securities. If the Company has no subsidiaries, all other references to the
                                         Subsidiaries or any of them in the Transaction Documents shall be disregarded.</FONT></TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="font-size: 10pt; vertical-align: top">
<TD STYLE="font-size: 10pt; width: 0.75in"></TD><TD STYLE="font-size: 10pt; width: 0.25in"><FONT STYLE="font-size: 10pt">b.</FONT></TD><TD STYLE="font-size: 10pt; text-align: justify"><FONT STYLE="font-size: 10pt"><U>Organization
                                         and Qualification</U>. The Company and each of the Subsidiaries is an entity duly incorporated
                                         or otherwise organized, validly existing, and, if applicable under the laws of the jurisdiction
                                         in which they are formed, in good standing under the laws of the jurisdiction of its
                                         incorporation or organization, with the requisite power and authority to own and use
                                         its properties and assets and to carry on its business as currently conducted. Neither
                                         the Company nor any Subsidiary is in violation nor default of any of the provisions of
                                         its respective certificate or articles of incorporation, bylaws or other organizational
                                         or charter documents. Each of the Company and the Subsidiaries is duly qualified to conduct
                                         business and is in good standing as a foreign corporation or other entity in each jurisdiction
                                         in which the nature of the business conducted or property owned by it makes such qualification
                                         necessary, except where the failure to be so qualified or in good standing, as the case
                                         may be, could not have or reasonably be expected to result in: (i) a material adverse
                                         effect on the legality, validity or enforceability of any Transaction Document, (ii)
                                         a material adverse effect on the results of operations, assets, business, prospects or
                                         condition (financial or otherwise) of the Company and the Subsidiaries, taken as a whole,
                                         or (iii) a material adverse effect on the Company&rsquo;s ability to perform in any material
                                         respect on a timely
basis its obligations under any Transaction Document (any of (i), (ii) or (iii), a &ldquo;<U>Material Adverse Effect</U>&rdquo;)
and no Proceeding has been instituted in any such jurisdiction revoking, limiting or curtailing or seeking to revoke, limit or
curtail such power and authority or qualification.</FONT></TD></TR></TABLE>

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

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

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="font-size: 10pt; vertical-align: top">
<TD STYLE="font-size: 10pt; width: 0.75in"></TD><TD STYLE="font-size: 10pt; width: 0.25in"><FONT STYLE="font-size: 10pt">c.</FONT></TD><TD STYLE="font-size: 10pt; text-align: justify"><FONT STYLE="font-size: 10pt"><U>Authorization;
                                         Enforcement</U>. The Company has the requisite corporate power and authority to enter
                                         into and to consummate the transactions contemplated by this Agreement and each of the
                                         other Transaction Documents and otherwise to carry out its obligations hereunder and
                                         thereunder. The execution and delivery of this Agreement and each of the other Transaction
                                         Documents by the Company and the consummation by it of the transactions contemplated
                                         hereby and thereby have been duly authorized by all necessary action on the part of the
                                         Company and no further action is required by the Company, the Board of Directors or the
                                         Company&rsquo;s shareholders in connection herewith or therewith other than in connection
                                         with the Required Approvals. This Agreement and each other Transaction Document to which
                                         it is a party has been (or upon delivery will have been) duly executed by the Company
                                         and, when delivered in accordance with the terms hereof and thereof, will constitute
                                         the valid and binding obligation of the Company enforceable against the Company in accordance
                                         with its terms, except (i) as limited by general equitable principles and applicable
                                         bankruptcy, insolvency, reorganization, moratorium and other laws of general application
                                         affecting enforcement of creditors&rsquo; rights generally, (ii) as limited by laws relating
                                         to the availability of specific performance, injunctive relief or other equitable remedies
                                         and (iii) insofar as indemnification and contribution provisions may be limited by applicable
                                         law.</FONT></TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="font-size: 10pt; vertical-align: top">
<TD STYLE="font-size: 10pt; width: 0.75in"></TD><TD STYLE="font-size: 10pt; width: 0.25in"><FONT STYLE="font-size: 10pt">d.</FONT></TD><TD STYLE="font-size: 10pt; text-align: justify"><FONT STYLE="font-size: 10pt"><U>No
                                         Conflicts</U>. The execution, delivery and performance by the Company of this Agreement
                                         and the other Transaction Documents to which it is a party, the issuance and sale of
                                         the Securities and the consummation by it of the transactions contemplated hereby and
                                         thereby do not and will not (i) conflict with or violate any provision of the Company&rsquo;s
                                         or any Subsidiary&rsquo;s certificate or articles of incorporation, bylaws or other organizational
                                         or charter documents, or (ii) conflict with, or constitute a default (or an event that
                                         with notice or lapse of time or both would become a default) under, result in the creation
                                         of any Lien upon any of the properties or assets of the Company or any Subsidiary, or
                                         give to others any rights of termination, amendment, anti-dilution or similar adjustments,
                                         acceleration or cancellation (with or without notice, lapse of time or both) of, any
                                         agreement, credit facility, debt or other instrument (evidencing a Company or Subsidiary
                                         debt or otherwise) or other understanding to which the Company or any Subsidiary is a
                                         party or by which any property or asset of the Company or any Subsidiary is bound or
                                         affected, or (iii) subject to the Required Approvals, conflict with or result in a violation
                                         of any law, rule, regulation, order, judgment, injunction, decree or other restriction
                                         of any court or governmental authority to which the Company or a Subsidiary is subject
                                         (including federal and state securities laws and regulations), or by which any property
                                         or asset of the Company or a Subsidiary is bound or affected; except in the case of each
                                         of clauses (ii) and (iii), such as could not have or reasonably be expected to result
                                         in a Material Adverse Effect.</FONT></TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="font-size: 10pt; vertical-align: top">
<TD STYLE="font-size: 10pt; width: 0.75in"></TD><TD STYLE="font-size: 10pt; width: 0.25in"><FONT STYLE="font-size: 10pt">e.</FONT></TD><TD STYLE="font-size: 10pt; text-align: justify"><FONT STYLE="font-size: 10pt"><U>Filings,
                                         Consents and Approvals</U>. Except as set forth on&nbsp;<U>Schedule 3.1(e)</U>, the Company
                                         is not required to obtain any consent, waiver, authorization or order of, give any notice
                                         to, or make any filing or registration with, any court or other federal, state, local
                                         or other governmental authority or other Person in connection with the execution, delivery
                                         and performance by the Company of the Transaction Documents, other than: (i) the filings
                                         required pursuant to Section &#8206;11 of this Agreement, (ii) the filing with the Commission
                                         pursuant to the Registration Rights, (iii) the notice and/or application(s) to each applicable
                                         Trading Market for the issuance and sale of the Securities and the listing of the Shares
                                         and Warrant Shares for trading thereon in the time and manner required thereby, (iv)
                                         the filing of Form D with the Commission and such filings as are required to be made
                                         under applicable state securities laws and (v) such filings are required to be made under
                                         the Israeli Securities Authority, which shall be made no later than the Closing Date
                                         (collectively, the &ldquo;<U>Required Approvals</U>&rdquo;).</FONT></TD></TR></TABLE>

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

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

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="font-size: 10pt; vertical-align: top">
<TD STYLE="font-size: 10pt; width: 0.75in"></TD><TD STYLE="font-size: 10pt; width: 0.25in"><FONT STYLE="font-size: 10pt">f.</FONT></TD><TD STYLE="font-size: 10pt; text-align: justify"><FONT STYLE="font-size: 10pt"><U>Issuance
                                         of the Securities</U>. The Securities are duly authorized and, when issued and paid for
                                         in accordance with the applicable Transaction Documents, will be duly and validly issued,
                                         fully paid and nonassessable, free and clear of all Liens imposed by the Company other
                                         than restrictions on transfer provided for in the Transaction Documents. The Warrant
                                         Shares, when issued in accordance with the terms of the Transaction Documents, will be
                                         validly issued, fully paid and nonassessable, free and clear of all Liens imposed by
                                         the Company other than restrictions on transfer provided for in the Transaction Documents.
                                         The Company has reserved from its duly authorized capital stock the maximum number of
                                         Ordinary Shares represented by the ADSs issuable pursuant to this Agreement and the Warrants.</FONT></TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="font-size: 10pt; vertical-align: top">
<TD STYLE="font-size: 10pt; width: 0.75in"></TD><TD STYLE="font-size: 10pt; width: 0.25in"><FONT STYLE="font-size: 10pt">g.</FONT></TD><TD STYLE="font-size: 10pt; text-align: justify"><FONT STYLE="font-size: 10pt"><U>Capitalization</U>.
                                         The capitalization of the Company as of the date of this Agreement is as set forth on
                                         Schedule 3.1(g), which Schedule 3.1(g) shall also include the number of Ordinary Shares
                                         owned beneficially, and of record, by Affiliates of the Company as of the date hereof.
                                         The Company has not issued any capital stock since its most recently filed periodic report
                                         under the Exchange Act, other than pursuant to the exercise of employee share options
                                         and restricted share units under the Company&rsquo;s incentive plans, the issuance of
                                         Ordinary Shares, Ordinary Share Equivalents or ADSs pursuant to the Merger Agreement
                                         and pursuant to the conversion and/or exercise of Ordinary Share Equivalents outstanding.
                                         No Person has any right of first refusal, preemptive right, right of participation, or
                                         any similar right to participate in the transactions contemplated by the Transaction
                                         Documents. Except as set forth on Schedule 3.1(g), as of the date of this Agreement,
                                         and as a result of the purchase and sale of the Securities, there are no outstanding
                                         options, warrants, scrip rights to subscribe to, calls or commitments of any character
                                         whatsoever relating to, or securities, rights or obligations convertible into or exercisable
                                         or exchangeable for, or giving any Person any right to subscribe for or acquire, any
                                         ADSs, Ordinary Shares, or contracts, commitments, understandings or arrangements by which
                                         the Company or any Subsidiary is or may become bound to issue additional ADSs, Ordinary
                                         Shares or Ordinary Share Equivalents. The issuance and sale of the Securities will not
                                         obligate the Company to issue ADSs or Ordinary Shares or other securities to any Person
                                         (other than the Purchasers) and will not result in a right of any holder of Company securities
                                         to adjust the exercise, conversion, exchange or reset price under any of such securities.
                                         There are no outstanding securities or instruments of the Company or any Subsidiary that
                                         contain any redemption or similar provisions, and there are no contracts, commitments,
                                         understandings or arrangements by which the Company or any Subsidiary is or may become
                                         bound to redeem a security of the Company or such Subsidiary. The Company does not have
                                         any stock appreciation rights or &ldquo;phantom stock&rdquo; plans or agreements or any
                                         similar plan or agreement. All of the outstanding shares of capital stock of the Company
                                         are duly authorized, validly issued, fully paid and nonassessable, have been issued in
                                         compliance with all federal and state securities laws where applicable, and none of such
                                         outstanding shares was issued in violation of any preemptive rights or similar rights
                                         to subscribe for or purchase securities. Except for the Required Approvals, no further
                                         approval or authorization of any shareholder, the Board of Directors or others is required
                                         for the issuance and sale of the Securities. There are no shareholders agreements, voting
                                         agreements or other similar agreements with respect to the Company&rsquo;s capital stock
                                         to which the Company is a party or, to the knowledge of the Company, between or among
                                         any of the Company&rsquo;s shareholders.</FONT></TD></TR></TABLE>

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

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

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="font-size: 10pt; vertical-align: top">
<TD STYLE="font-size: 10pt; width: 0.75in"></TD><TD STYLE="font-size: 10pt; width: 0.25in"><FONT STYLE="font-size: 10pt">h.</FONT></TD><TD STYLE="font-size: 10pt; text-align: justify"><FONT STYLE="font-size: 10pt"><U>SEC
                                         Reports; Financial Statements</U>. Except as set forth on&nbsp;<U>Schedule 3.1(h)</U>,
                                         the Company has filed all reports, schedules, forms, statements and other documents required
                                         to be filed by the Company under the Securities Act and the Exchange Act, including pursuant
                                         to Section 13(a) or 15(d) thereof, (the foregoing materials, including the exhibits thereto
                                         and documents incorporated by reference therein, being collectively referred to herein
                                         as the &ldquo;<U>SEC Reports</U>&rdquo;) on a timely basis or has received a valid extension
                                         of such time of filing and has filed any such SEC Reports prior to the expiration of
                                         any such extension. As of their respective dates, the SEC Reports complied in all material
                                         respects with the requirements of the Securities Act and the Exchange Act, as applicable,
                                         and none of the SEC Reports, when filed, contained any untrue statement of a material
                                         fact or omitted to state a material fact required to be stated therein or necessary in
                                         order to make the statements therein, in the light of the circumstances under which they
                                         were made, not misleading. The Company has never been an issuer subject to Rule 144(i)
                                         under the Securities Act. The financial statements of the Company included in the SEC
                                         Reports comply in all material respects with applicable accounting requirements and the
                                         rules and regulations of the Commission with respect thereto as in effect at the time
                                         of filing. Such financial statements have been prepared in accordance with&nbsp;<FONT STYLE="background-color: white">generally
                                         accepted accounting principles and practices in effect from time to time within the United
                                         States applied consistently throughout the period involved </FONT>(&ldquo;<U>GAAP</U>&rdquo;),
                                         except as may be otherwise specified in such financial statements or the notes thereto
                                         and except that unaudited financial statements may not contain all footnotes required
                                         by GAAP, and fairly present in all material respects the financial position of the Company
                                         and its consolidated Subsidiaries as of and for the dates thereof and the results of
                                         operations and cash flows for the periods then ended, subject, in the case of unaudited
                                         statements, to normal, immaterial, year-end audit adjustments.</FONT></TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="font-size: 10pt; vertical-align: top">
<TD STYLE="font-size: 10pt; width: 0.75in"></TD><TD STYLE="font-size: 10pt; width: 0.25in"><FONT STYLE="font-size: 10pt">i.</FONT></TD><TD STYLE="font-size: 10pt; text-align: justify"><FONT STYLE="font-size: 10pt"><U>Material
                                         Changes; Undisclosed Events, Liabilities or Developments</U>. Since the date of the latest
                                         audited financial statements included within the SEC Reports, except as set forth on&nbsp;<U>Schedule
                                         3.1(i)</U>, (i) there has been no event, occurrence or development that has had or that
                                         could reasonably be expected to result in a Material Adverse Effect, (ii) the Company
                                         has not incurred any liabilities (contingent or otherwise) other than (A) trade payables
                                         and accrued expenses incurred in the ordinary course of business consistent with past
                                         practice and (B) liabilities not required to be reflected in the Company&rsquo;s financial
                                         statements pursuant to GAAP or disclosed in filings made with the Commission, (iii) the
                                         Company has not altered its method of accounting, (iv) the Company has not declared or
                                         made any dividend or distribution of cash or other property to its shareholders or purchased,
                                         redeemed or made any agreements to purchase or redeem any shares of its capital stock
                                         and (v) the Company has not issued any equity securities to any officer, director or
                                         Affiliate, except pursuant to existing Company stock option plans. The Company does not
                                         have pending before the Commission any request for confidential treatment of information.
                                         Except for the issuance of the Securities contemplated by this Agreement or as set forth
                                         on&nbsp;<U>Schedule 3.1(i)</U>, no event, liability, fact, circumstance, occurrence or
                                         development has occurred or exists or is reasonably expected to occur or exist with respect
                                         to the Company or its Subsidiaries or their respective businesses, prospects, properties,
                                         operations, assets or financial condition, that would be required to be disclosed by
                                         the Company under applicable securities laws at the time this representation is made
                                         or deemed made that has not been publicly disclosed at least one (1) Trading Day prior
                                         to the date that this representation is made.</FONT></TD></TR></TABLE>

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<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="font-size: 10pt; vertical-align: top">
<TD STYLE="font-size: 10pt; width: 0.75in"></TD><TD STYLE="font-size: 10pt; width: 0.25in"><FONT STYLE="font-size: 10pt">j.</FONT></TD><TD STYLE="font-size: 10pt; text-align: justify"><FONT STYLE="font-size: 10pt"><U>Litigation</U>.
                                         Except as set forth on&nbsp;<U>Schedule 3.1(j)</U>, there is no action, suit, inquiry,
                                         notice of violation, proceeding or investigation pending or, to the knowledge of the
                                         Company, threatened against or affecting the Company, any Subsidiary or any of their
                                         respective properties before or by any court, arbitrator, governmental or administrative
                                         agency or regulatory authority (federal, state, county, local or foreign) (collectively,
                                         an &ldquo;<U>Action</U>&rdquo;). None of the Actions set forth on&nbsp;<U>Schedule 3.1(j)</U>,
                                         (i) adversely affects or challenges the legality, validity or enforceability of any of
                                         the Transaction Documents or the Securities or (ii) could, if there were an unfavorable
                                         decision, have or reasonably be expected to result in a Material Adverse Effect. Neither
                                         the Company nor any Subsidiary, nor any director or officer thereof, is or has been the
                                         subject of any Action involving a claim of violation of or liability under federal or
                                         state securities laws or a claim of breach of fiduciary duty. There has not been, and
                                         to the knowledge of the Company, there is not pending or contemplated, any investigation
                                         by the Commission involving the Company or any current or former director or officer
                                         of the Company. The Commission has not issued any stop order or other order suspending
                                         the effectiveness of any registration statement filed by the Company or any Subsidiary
                                         under the Exchange Act or the Securities Act.</FONT></TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="font-size: 10pt; vertical-align: top">
<TD STYLE="font-size: 10pt; width: 0.75in"></TD><TD STYLE="font-size: 10pt; width: 0.25in"><FONT STYLE="font-size: 10pt">k.</FONT></TD><TD STYLE="font-size: 10pt; text-align: justify"><FONT STYLE="font-size: 10pt"><U>Intellectual
                                         Property</U>. The Company and the Subsidiaries have, or have rights to use, all patents,
                                         patent applications, trademarks, trademark applications, service marks, trade names,
                                         trade secrets, inventions, copyrights, licenses and other intellectual property rights
                                         and similar rights necessary or required for use in connection with their respective
                                         businesses as described in the SEC Reports and which the failure to so have could have
                                         a Material Adverse Effect (collectively, the &ldquo;<U>Intellectual Property Rights</U>&rdquo;).
                                         None of, and neither the Company nor any Subsidiary has received a notice (written or
                                         otherwise) that any of, the Intellectual Property Rights has expired, terminated or been
                                         abandoned, or is expected to expire or terminate or be abandoned, within two (2) years
                                         from the date of this Agreement, except as would not reasonably be expected to have a
                                         Material Adverse Effect. Neither the Company nor any Subsidiary has received, since the
                                         date of the latest audited financial statements included within the SEC Reports, a written
                                         notice of a claim or otherwise has any knowledge that the Intellectual Property Rights
                                         violate or infringe upon the rights of any Person, except as could not have or reasonably
                                         be expected to not have a Material Adverse Effect. To the knowledge of the Company, all
                                         such Intellectual Property Rights are enforceable and there is no existing infringement
                                         by another Person of any of the Intellectual Property Rights. The Company and its Subsidiaries
                                         have taken reasonable security measures to protect the secrecy, confidentiality and value
                                         of all of their intellectual properties, except where failure to do so could not, individually
                                         or in the aggregate, reasonably be expected to have a Material Adverse Effect.</FONT></TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="font-size: 10pt; vertical-align: top">
<TD STYLE="font-size: 10pt; width: 0.75in"></TD><TD STYLE="font-size: 10pt; width: 0.25in"><FONT STYLE="font-size: 10pt">l.</FONT></TD><TD STYLE="font-size: 10pt; text-align: justify"><FONT STYLE="font-size: 10pt"><U>Sarbanes-Oxley;
                                         Internal Accounting Controls</U>. The Company and the Subsidiaries are in material compliance
                                         with any and all applicable requirements of the Sarbanes-Oxley Act of 2002 that are effective
                                         as of the date hereof, and any and all applicable rules and regulations promulgated by
                                         the Commission thereunder that are effective as of the date hereof and as of the Closing
                                         Date. The Company and the Subsidiaries maintain a system of internal accounting controls
                                         sufficient to provide reasonable assurance that: (i) transactions are executed in accordance
                                         with management&rsquo;s general or specific authorizations, (ii) transactions are recorded
                                         as necessary to permit preparation of financial statements in conformity with GAAP and
                                         to maintain asset accountability, (iii) access to assets is permitted only in accordance
                                         with management&rsquo;s general or specific authorization, and (iv) 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 and the Subsidiaries have
                                         established disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e)
                                         and 15d-15(e)) for the Company and the Subsidiaries and designed such disclosure controls
                                         and procedures to ensure that information required to be disclosed by the Company in
                                         the reports 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.
                                         The Company&rsquo;s certifying officers have evaluated the effectiveness of the disclosure
                                         controls and procedures of the Company and the Subsidiaries as of the end of the period
                                         covered by the most recently filed Form 10-K under the Exchange Act (such date, the &ldquo;<U>Evaluation
                                         Date</U>&rdquo;). The Company presented in its most recently filed Form 10-K under the
                                         Exchange Act 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 changes in the internal control over financial
                                         reporting (as such term is defined in the Exchange Act) that have materially affected,
                                         or is reasonably likely to materially affect, the internal control over financial reporting
                                         of the Company and its Subsidiaries.</FONT></TD></TR></TABLE>

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<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="font-size: 10pt; vertical-align: top">
<TD STYLE="font-size: 10pt; width: 0.75in"></TD><TD STYLE="font-size: 10pt; width: 0.25in"><FONT STYLE="font-size: 10pt">m.</FONT></TD><TD STYLE="font-size: 10pt; text-align: justify"><FONT STYLE="font-size: 10pt"><U>Certain
                                         Fees</U>. Except as set forth on&nbsp;<U>Schedule 3.1(s), </U>no brokerage or finder&rsquo;s
                                         fees or commissions are or will be payable by the Company or any Subsidiaries to any
                                         broker, financial advisor or consultant, finder, placement agent, investment banker,
                                         bank or other Person with respect to the transactions contemplated by the Transaction
                                         Documents. Other than for Persons engaged by any Purchaser, if any, the Purchasers shall
                                         have no obligation with respect to any fees or with respect to any claims made by or
                                         on behalf of other Persons for fees of a type contemplated in this Section that may be
                                         due in connection with the transactions contemplated by the Transaction Documents.</FONT></TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="font-size: 10pt; vertical-align: top">
<TD STYLE="font-size: 10pt; width: 0.75in"></TD><TD STYLE="font-size: 10pt; width: 0.25in"><FONT STYLE="font-size: 10pt">n.</FONT></TD><TD STYLE="font-size: 10pt; text-align: justify"><FONT STYLE="font-size: 10pt"><U>Private
                                         Placement</U>. Assuming the accuracy of the Purchasers&rsquo; representations and warranties
                                         set forth in Section &#8206;6, no registration under the Securities Act is required for
                                         the offer and sale of the Securities by the Company to the Purchasers as contemplated
                                         hereby. The issuance and sale of the Securities hereunder does not contravene the rules
                                         and regulations of the Trading Market.</FONT></TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="font-size: 10pt; vertical-align: top">
<TD STYLE="font-size: 10pt; width: 0.75in"></TD><TD STYLE="font-size: 10pt; width: 0.25in"><FONT STYLE="font-size: 10pt">o.</FONT></TD><TD STYLE="font-size: 10pt; text-align: justify"><FONT STYLE="font-size: 10pt"><U>Registration
                                         Rights</U>. Other than as described in as described in the SEC Reports and the Registration
                                         Rights of the Purchasers hereunder, no Person has any right to cause the Company to effect
                                         the registration under the Securities Act of any securities of the Company or any Subsidiary.</FONT></TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="font-size: 10pt; vertical-align: top">
<TD STYLE="font-size: 10pt; width: 0.75in"></TD><TD STYLE="font-size: 10pt; width: 0.25in"><FONT STYLE="font-size: 10pt">p.</FONT></TD><TD STYLE="font-size: 10pt; text-align: justify"><FONT STYLE="font-size: 10pt"><U>No
                                         Integrated Offering</U>. Assuming the accuracy of the Purchasers&rsquo; representations
                                         and warranties set forth in Section &#8206;6, neither the Company, nor any of its Affiliates,
                                         nor any Person acting on its or their behalf has, directly or indirectly, made any offers
                                         or sales of any security or solicited any offers to buy any security, under circumstances
                                         that would cause this offering of the Securities to be integrated with prior offerings
                                         by the Company for purposes of (i) the Securities Act which would require the registration
                                         of any such securities under the Securities Act, or (ii) any applicable shareholder approval
                                         provisions of any Trading Market on which any of the securities of the Company are listed
                                         or designated.</FONT></TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="font-size: 10pt; vertical-align: top">
<TD STYLE="font-size: 10pt; width: 0.75in"></TD><TD STYLE="font-size: 10pt; width: 0.25in"><FONT STYLE="font-size: 10pt">q.</FONT></TD><TD STYLE="font-size: 10pt; text-align: justify"><FONT STYLE="font-size: 10pt"><U>No
                                         General Solicitation</U>. Neither the Company nor any Person acting on behalf of the
                                         Company has offered or sold any of the Securities by any form of general solicitation
                                         or general advertising. The Company has offered the Securities for sale only to the Purchasers
                                         who are &ldquo;accredited investors&rdquo; within the meaning of Rule 501 under the Securities
                                         Act .</FONT></TD></TR></TABLE>

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<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="font-size: 10pt; vertical-align: top">
<TD STYLE="font-size: 10pt; width: 0.75in"></TD><TD STYLE="font-size: 10pt; width: 0.25in"><FONT STYLE="font-size: 10pt">r.</FONT></TD><TD STYLE="font-size: 10pt; text-align: justify"><FONT STYLE="font-size: 10pt"><U>Foreign
                                         Corrupt Practices</U>. Neither the Company nor any Subsidiary, nor to the knowledge of
                                         the Company or any Subsidiary, any agent or other person acting on behalf of the Company
                                         or any Subsidiary, has (i) directly or indirectly, used any funds for unlawful contributions,
                                         gifts, entertainment or other unlawful expenses related to foreign or domestic political
                                         activity, (ii) made any unlawful payment to foreign or domestic government officials
                                         or employees or to any foreign or domestic political parties or campaigns from corporate
                                         funds, (iii) failed to disclose fully any contribution made by the Company or any Subsidiary
                                         (or made by any person acting on its behalf of which the Company is aware) which is in
                                         violation of law or (iv) violated in any material respect any provision of FCPA or any
                                         other applicable anti-bribery or anti-corruption law, regulation or rule.</FONT></TD></TR></TABLE>

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<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="font-size: 10pt; vertical-align: top">
<TD STYLE="font-size: 10pt; width: 0.75in"></TD><TD STYLE="font-size: 10pt; width: 0.25in"><FONT STYLE="font-size: 10pt">s.</FONT></TD><TD STYLE="font-size: 10pt; text-align: justify"><FONT STYLE="font-size: 10pt"><U>Regulation
                                         M Compliance</U>.&nbsp; The Company has not, and to its knowledge no one acting on its
                                         behalf has, (i) taken, directly or indirectly, any action designed to cause or to result
                                         in the stabilization or manipulation of the price of any security of the Company to facilitate
                                         the sale or resale of any of the ADSs or Ordinary Shares, (ii) sold, bid for, purchased,
                                         or, paid any compensation for soliciting purchases of, any of the ADSs or Shares, or
                                         (iii) paid or agreed to pay to any Person any compensation for soliciting another to
                                         purchase any other securities of the Company.</FONT></TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="font-size: 10pt; vertical-align: top">
<TD STYLE="font-size: 10pt; width: 0.75in"></TD><TD STYLE="font-size: 10pt; width: 0.25in"><FONT STYLE="font-size: 10pt">t.</FONT></TD><TD STYLE="font-size: 10pt; text-align: justify"><FONT STYLE="font-size: 10pt"><U>Office
                                         of Foreign Assets Control</U>. Neither the Company nor any Subsidiary nor, to the Company's
                                         knowledge, any director, officer, agent, employee or affiliate of the Company or any
                                         Subsidiary is currently subject to any U.S. sanctions administered by the Office of Foreign
                                         Assets Control of the U.S. Treasury Department (&ldquo;<U>OFAC</U>&rdquo;) or to any
                                         other sanctions administered by the United Nations, the European Union, Her Majesty&rsquo;s
                                         Treasury or any other applicable sanctions authority.</FONT></TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="font-size: 10pt; vertical-align: top">
<TD STYLE="font-size: 10pt; width: 0.75in"></TD><TD STYLE="font-size: 10pt; width: 0.25in"><FONT STYLE="font-size: 10pt">u.</FONT></TD><TD STYLE="font-size: 10pt; text-align: justify"><FONT STYLE="font-size: 10pt">The
                                         Company acknowledges and agrees that Oppenheimer &amp; Co. Inc. (the &ldquo;<B>Placement
                                         Agent</B>&rdquo;) is entitled to rely on the agreements, representations and warranties
                                         of the Company contained in this Agreement. Prior to the Closing, the Company agrees
                                         to promptly notify the Placement Agents if any of the agreements, representations and
                                         warranties of the Company are no longer accurate in all material respects.</FONT></TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="font-size: 10pt; vertical-align: top">
<TD STYLE="font-size: 10pt; width: 0.75in"></TD><TD STYLE="font-size: 10pt; width: 0.25in"><FONT STYLE="font-size: 10pt">v.</FONT></TD><TD STYLE="font-size: 10pt; text-align: justify"><FONT STYLE="font-size: 10pt">No
                                         Disqualification Events. With respect to the Securities to be offered and sold hereunder
                                         in reliance on Rule 506 under the Securities Act, none of the Company, any of its predecessors,
                                         any affiliated issuer, any director, executive officer, other officer of the Company
                                         participating in the offering hereunder, any beneficial owner of 20% or more of the Company&rsquo;s
                                         outstanding voting equity securities, calculated on the basis of voting power, nor any
                                         promoter (as that term is defined in Rule 405 under the Securities Act) connected with
                                         the Company in any capacity at the time of sale (each, an &ldquo;Issuer Covered Person&rdquo;
                                         and, together, &ldquo;Issuer Covered Persons&rdquo;) is subject to any of the &quot;Bad
                                         Actor&quot; disqualifications described in Rule 506(d)(1)(i) to (viii) under the Securities
                                         Act (a &ldquo;Disqualification Event&rdquo;), except for a Disqualification Event covered
                                         by Rule 506(d)(2) or (d)(3). The Company has exercised reasonable care to determine whether
                                         any Issuer Covered Person is subject to a Disqualification Event. The Company has complied,
                                         to the extent applicable, with its disclosure obligations under Rule 506(e), and has
                                         furnished to the Purchasers a copy of any disclosures provided thereunder.</FONT></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"></P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="font-size: 10pt; vertical-align: top">
<TD STYLE="font-size: 10pt; width: 0.25in"></TD><TD STYLE="font-size: 10pt; width: 0.25in"><FONT STYLE="font-size: 10pt">6.</FONT></TD><TD STYLE="font-size: 10pt; text-align: justify"><FONT STYLE="font-size: 10pt"><U>Representations
                                         and Warranties of the Purchasers</U>. Each Purchaser, for itself and for no other Purchaser,
                                         hereby represents and warrants as of the date hereof and as of the Closing Date to the
                                         Company as follows (unless as of a specific date therein, in which case they shall be
                                         accurate as of such date):</FONT></TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="font-size: 10pt; vertical-align: top">
<TD STYLE="font-size: 10pt; width: 0.75in"></TD><TD STYLE="font-size: 10pt; width: 0.25in"><FONT STYLE="font-size: 10pt">a.</FONT></TD><TD STYLE="font-size: 10pt; text-align: justify"><FONT STYLE="font-size: 10pt"><U>Organization;
                                         Authority</U>. Such Purchaser is either an individual or an entity duly incorporated
                                         or formed, validly existing and in good standing under the laws of the jurisdiction of
                                         its incorporation or formation with full right, corporate, partnership, limited liability
                                         company or similar power and authority to enter into and to consummate the transactions
                                         contemplated by the Transaction Documents and otherwise to carry out its obligations
                                         hereunder and thereunder. The execution and delivery of the Transaction Documents and
                                         performance by such Purchaser of the transactions contemplated by the Transaction Documents
                                         have been duly authorized by all necessary corporate, partnership, limited liability
                                         company or similar action, as applicable, on the part of such Purchaser. Each Transaction
                                         Document to which it is a party has been duly executed by such Purchaser, and when delivered
                                         by such Purchaser in accordance with the terms hereof, will constitute the valid and
                                         legally binding obligation of such Purchaser, enforceable against it in accordance with
                                         its terms, except (i) as limited by general equitable principles and applicable bankruptcy,
                                         insolvency, reorganization, moratorium and other laws of general application affecting
                                         enforcement of creditors&rsquo; rights generally, (ii) as limited by laws relating to
                                         the availability of specific performance, injunctive relief or other equitable remedies
                                         and (iii) insofar as indemnification and contribution provisions may be limited by applicable
                                         law.</FONT></TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="font-size: 10pt; vertical-align: top">
<TD STYLE="font-size: 10pt; width: 0.75in"></TD><TD STYLE="font-size: 10pt; width: 0.25in"><FONT STYLE="font-size: 10pt">b.</FONT></TD><TD STYLE="font-size: 10pt; text-align: justify"><FONT STYLE="font-size: 10pt"><U>Own
                                         Account</U>. Such Purchaser understands that the Securities are &ldquo;restricted securities&rdquo;
                                         and have not been registered under the Securities Act or any applicable state securities
                                         law and is acquiring the Securities as principal for its own account and not with a view
                                         to or for distributing or reselling such Securities or any part thereof in violation
                                         of the Securities Act or any applicable state securities law, has no present intention
                                         of distributing any of such Securities in violation of the Securities Act or any applicable
                                         state securities law and has no direct or indirect arrangement or understandings with
                                         any other persons to distribute or regarding the distribution of such Securities in violation
                                         of the Securities Act or any applicable state securities law (this representation and
                                         warranty not limiting such Purchaser&rsquo;s right to sell the Securities pursuant to
                                         the Registration Statement or otherwise in compliance with applicable federal and state
                                         securities laws). Such Purchaser is acquiring the Securities hereunder in the ordinary
                                         course of its business.</FONT></TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="font-size: 10pt; vertical-align: top">
<TD STYLE="font-size: 10pt; width: 0.75in"></TD><TD STYLE="font-size: 10pt; width: 0.25in"><FONT STYLE="font-size: 10pt">c.</FONT></TD><TD STYLE="font-size: 10pt; text-align: justify"><FONT STYLE="font-size: 10pt"><U>Purchaser
                                         Status</U>. At the time such Purchaser was offered the Securities, it was, and as of
                                         the date hereof it is, and on each date on which it exercises any Warrants it will be
                                         an &ldquo;accredited investor&rdquo; as defined in Rule 501(a) under the Securities Act,
                                         a summary of which is attached hereto as&nbsp;<U>Exhibit E</U>. At the time such Purchaser
                                         was offered the Securities, it was not, and as of the date hereof it is not, and on each
                                         date on which it exercises any Warrants, it will not be an Enemy of Israel (as such term
                                         is defined under the Israeli Trading with the Enemy Ordinance of 1939) nor acting on
                                         behalf of or for the benefit of such.</FONT></TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="font-size: 10pt; vertical-align: top">
<TD STYLE="font-size: 10pt; width: 0.75in"></TD><TD STYLE="font-size: 10pt; width: 0.25in"><FONT STYLE="font-size: 10pt">d.</FONT></TD><TD STYLE="font-size: 10pt; text-align: justify"><FONT STYLE="font-size: 10pt"><U>Experience
                                         of Such Purchaser</U>. Such Purchaser, either alone or together with its representatives,
                                         has such knowledge, sophistication and experience in business and financial matters so
                                         as to be capable of evaluating the merits and risks of the prospective investment in
                                         the Securities, and has so evaluated the merits and risks of such investment. Such
Purchaser is able to bear the economic risk of an investment in the Securities and, at the present time, is able to afford a complete
loss of such investment.</FONT></TD></TR></TABLE>

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

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

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="font-size: 10pt; vertical-align: top">
<TD STYLE="font-size: 10pt; width: 0.75in"></TD><TD STYLE="font-size: 10pt; width: 0.25in"><FONT STYLE="font-size: 10pt">e.</FONT></TD><TD STYLE="font-size: 10pt; text-align: justify"><FONT STYLE="font-size: 10pt"><U>General
                                         Solicitation</U>. Such Purchaser is not purchasing the Securities as a result of any
                                         advertisement, article, notice or other communication regarding the Securities published
                                         in any newspaper, magazine or similar media or broadcast over television or radio or
                                         presented at any seminar or any other general solicitation or general advertisement.</FONT></TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="font-size: 10pt; vertical-align: top">
<TD STYLE="font-size: 10pt; width: 0.75in"></TD><TD STYLE="font-size: 10pt; width: 0.25in"><FONT STYLE="font-size: 10pt">f.</FONT></TD><TD STYLE="font-size: 10pt; text-align: justify"><FONT STYLE="font-size: 10pt"><U>Access
                                         to Information</U>. Such Purchaser acknowledges that it has had the opportunity to review
                                         the Transaction Documents (including all exhibits and schedules thereto) and the SEC
                                         Reports and has been afforded (i) the opportunity to ask such questions as it has deemed
                                         necessary of, and to receive answers from, representatives of the Company concerning
                                         the terms and conditions of the offering of the Securities and the merits and risks of
                                         investing in the Securities; (ii) access to information about the Company and its financial
                                         condition, results of operations, business, properties, management and prospects sufficient
                                         to enable it to evaluate its investment; and (iii) the opportunity to obtain such additional
                                         information that the Company possesses or can acquire without unreasonable effort or
                                         expense that is necessary to make an informed investment decision with respect to the
                                         investment.&nbsp; Such Purchaser acknowledges and agrees that neither the Company nor
                                         any Affiliate of the Company has provided such Purchaser with any information (other
                                         than such information required under Rule 502(b)(2) under the Securities Act)or advice
                                         with respect to the Securities nor is such information or advice necessary or desired.</FONT></TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="font-size: 10pt; vertical-align: top">
<TD STYLE="font-size: 10pt; width: 0.75in"></TD><TD STYLE="font-size: 10pt; width: 0.25in"><FONT STYLE="font-size: 10pt">g.</FONT></TD><TD STYLE="font-size: 10pt; text-align: justify"><FONT STYLE="font-size: 10pt"><U>No
                                         Voting Agreements</U>. The Purchaser is not a party to any agreement or arrangement,
                                         whether written or oral, between the Purchaser and any other Purchaser and any of the
                                         Company&rsquo;s shareholders as of the date hereof or a corporation in which the Company&rsquo;s
                                         shareholders are an Interested Party (as defined in the Israeli Companies Law) as of
                                         the date hereof, regulating the management of the Company, the shareholders&rsquo; rights
                                         in the Company, the transfer of shares in the Company, including any voting agreements,
                                         shareholder agreements or any other similar agreement even if its title is different
                                         or has any other relations or agreements with any of the Company&rsquo;s shareholders,
                                         directors or officers.</FONT></TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="font-size: 10pt; vertical-align: top">
<TD STYLE="font-size: 10pt; width: 0.75in"></TD><TD STYLE="font-size: 10pt; width: 0.25in"><FONT STYLE="font-size: 10pt">h.</FONT></TD><TD STYLE="font-size: 10pt; text-align: justify"><FONT STYLE="font-size: 10pt"><U>No
                                         Governmental Review</U>. Such Purchaser understands that no Israeli or United States
                                         federal or state agency or any other government or governmental agency has passed on
                                         or made any recommendation or endorsement of the Securities or the fairness or suitability
                                         of the investment in the Securities nor have such authorities passed upon or endorsed
                                         the merits of the offering of the Securities</FONT></TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="font-size: 10pt; vertical-align: top">
<TD STYLE="font-size: 10pt; width: 0.75in"></TD><TD STYLE="font-size: 10pt; width: 0.25in"><FONT STYLE="font-size: 10pt">i.</FONT></TD><TD STYLE="font-size: 10pt; text-align: justify"><FONT STYLE="font-size: 10pt"><U>Brokers</U>.
                                         Except as set forth on&nbsp;<U>Schedule 3.2(i)</U>, no agent, broker, investment banker,
                                         person or firm acting in a similar capacity on behalf of or under the authority of the
                                         Purchaser is or will be entitled to any broker&rsquo;s or finder&rsquo;s fee or any other
                                         commission or similar fee, directly or indirectly, for which the Company or any of its
                                         Affiliates after the Closing could have any liabilities in connection with this Agreement,
                                         any of the transactions contemplated by this Agreement, or on account of any action taken
                                         by the Purchaser in connection with the transactions contemplated by this Agreement.</FONT></TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="font-size: 10pt; vertical-align: top">
<TD STYLE="font-size: 10pt; width: 0.75in"></TD><TD STYLE="font-size: 10pt; width: 0.25in"><FONT STYLE="font-size: 10pt">j.</FONT></TD><TD STYLE="font-size: 10pt; text-align: justify"><FONT STYLE="font-size: 10pt"><U>Independent
                                         Advice</U>. Each Purchaser understands that nothing in this Agreement or any other materials
                                         presented by or on behalf of the Company to the Purchaser in connection with the purchase
                                         of the Securities constitutes legal, tax or investment advice</FONT></TD></TR></TABLE>

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

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

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="font-size: 10pt; vertical-align: top">
<TD STYLE="font-size: 10pt; width: 0.75in"></TD><TD STYLE="font-size: 10pt; width: 0.25in"><FONT STYLE="font-size: 10pt">k.</FONT></TD><TD STYLE="font-size: 10pt; text-align: justify"><FONT STYLE="font-size: 10pt"><U>Certain
                                         Transactions and Confidentiality</U>. Other than consummating the transactions contemplated
                                         hereunder, such Purchaser has not, nor has any Person acting on behalf of or pursuant
                                         to any understanding with such Purchaser, directly or indirectly executed any purchases
                                         or sales, including Short Sales,&nbsp;of the securities of the Company during the period
                                         commencing as of the time that such Purchaser first received a term sheet (written or
                                         oral) from the Company or any other Person representing the Company setting forth the
                                         material terms of the transactions contemplated hereunder and ending immediately prior
                                         to the execution hereof. Notwithstanding the foregoing, in the case of a Purchaser that
                                         is a multi-managed investment vehicle whereby separate portfolio managers manage separate
                                         portions of such Purchaser&rsquo;s assets and the portfolio managers have no direct knowledge
                                         of the investment decisions made by the portfolio managers managing other portions of
                                         such Purchaser&rsquo;s assets, the representation set forth above shall only apply with
                                         respect to the portion of assets managed by the portfolio manager that made the investment
                                         decision to purchase the Securities covered by this Agreement. Other than to other Persons
                                         party to this Agreement or to such Purchaser&rsquo;s representatives, including, without
                                         limitation, its officers, directors, partners, legal and other advisors, employees, agents
                                         and Affiliates, such Purchaser has maintained the confidentiality of all disclosures
                                         made to it in connection with this transaction (including the existence and terms of
                                         this transaction). Notwithstanding the foregoing, for the avoidance of doubt, nothing
                                         contained herein shall constitute a representation or warranty against, or a prohibition
                                         of, any actions with respect to the borrowing of, arrangement to borrow, identification
                                         of the availability of, and/or securing of, securities of the Company in order for such
                                         Purchaser (or its broker or other financial representative) to effect Short Sales or
                                         similar transactions in the future.</FONT></TD></TR></TABLE>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-size: 10pt">The Company
acknowledges and agrees that the representations contained in this Section &#8206;6 shall not modify, amend or affect such Purchaser&rsquo;s
right to rely on the Company&rsquo;s representations and warranties contained in this Agreement or any representations and warranties
contained in any other Transaction Document or any other document or instrument executed and/or delivered in connection with this
Agreement or the consummation of the transactions contemplated hereby. Notwithstanding the foregoing, for the avoidance of doubt,
nothing contained herein shall constitute a representation or warranty, or preclude any actions, with respect to locating or borrowing
shares in order to effect Short Sales or similar transactions in the future.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt"><B><U>Other Agreement of the
Parties</U></B>.</FONT></P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="font-size: 10pt; vertical-align: top">
<TD STYLE="font-size: 10pt; width: 0.25in"></TD><TD STYLE="font-size: 10pt; width: 0.25in"><FONT STYLE="font-size: 10pt">7.</FONT></TD><TD STYLE="font-size: 10pt; text-align: justify"><FONT STYLE="font-size: 10pt"><U>Transfer
                                         Restrictions</U>.</FONT></TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="font-size: 10pt; vertical-align: top">
<TD STYLE="font-size: 10pt; width: 0.75in"></TD><TD STYLE="font-size: 10pt; width: 0.25in"><FONT STYLE="font-size: 10pt">a.</FONT></TD><TD STYLE="font-size: 10pt; text-align: justify"><FONT STYLE="font-size: 10pt">The
                                         Securities may only be disposed of in compliance with state and federal securities laws.
                                         In connection with any transfer of Securities other than pursuant to an effective registration
                                         statement, including the Registration Statement, or Rule 144, to the Company or to an
                                         Affiliate of a Purchaser or in connection with a pledge as contemplated in Section &#8206;7&#8206;b&#8206;b,
                                         the Company may require the transferor thereof to provide to the Company an opinion of
                                         counsel selected by the transferor and reasonably acceptable to the Company, the form
                                         and substance of which opinion shall be reasonably satisfactory to the Company, to the
                                         effect that such transfer does not require registration of such transferred Securities
                                         under the Securities Act. As a condition of transfer, any such transferee shall agree
                                         in writing to be bound by the terms of this Agreement and the Registration Rights and
                                         shall have the rights and obligations of a Purchaser under this Agreement and the Registration
                                         Rights.</FONT></TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="font-size: 10pt; vertical-align: top">
<TD STYLE="font-size: 10pt; width: 0.75in"></TD><TD STYLE="font-size: 10pt; width: 0.25in"><FONT STYLE="font-size: 10pt">b.</FONT></TD><TD STYLE="font-size: 10pt; text-align: justify"><FONT STYLE="font-size: 10pt">The
                                         Purchasers agree to the imprinting, so long as is required by this Section&#8206;7, of
                                         a legend on any of the Securities in the following form:</FONT></TD></TR></TABLE>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.25in"><FONT STYLE="font-size: 10pt">NEITHER
THIS SECURITY NOR THE SECURITIES INTO WHICH THIS SECURITY IS EXERCISABLE HAS NOT BEEN REGISTERED WITH THE SECURITIES AND EXCHANGE
COMMISSION OR THE SECURITIES COMMISSION OF ANY STATE IN RELIANCE UPON AN EXEMPTION FROM REGISTRATION UNDER THE SECURITIES ACT
OF 1933, AS AMENDED (THE &ldquo;SECURITIES ACT&rdquo;), AND, ACCORDINGLY, MAY NOT BE OFFERED OR SOLD EXCEPT PURSUANT TO AN EFFECTIVE
REGISTRATION STATEMENT UNDER THE SECURITIES ACT OR PURSUANT TO AN AVAILABLE EXEMPTION FROM, OR IN A TRANSACTION NOT SUBJECT TO,
THE REGISTRATION REQUIREMENTS OF THE SECURITIES ACT AND IN ACCORDANCE WITH APPLICABLE STATE SECURITIES LAWS. THIS SECURITY AND
THE SECURITIES ISSUABLE UPON EXERCISE OF THIS SECURITY MAY BE PLEDGED IN CONNECTION WITH A BONA FIDE MARGIN ACCOUNT WITH A REGISTERED
BROKER-DEALER OR OTHER LOAN WITH A FINANCIAL INSTITUTION THAT IS AN &ldquo;ACCREDITED INVESTOR&rdquo; AS DEFINED IN RULE 501(a)
UNDER THE SECURITIES ACT OR OTHER LOAN SECURED BY SUCH SECURITIES.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">The
Company acknowledges and agrees that a Purchaser may from time to time pledge pursuant to a bona fide margin agreement with a
registered broker-dealer or grant a security interest in some or all of the Securities to a financial institution that is an &ldquo;accredited
investor&rdquo; as defined in Rule 501(a) under the Securities Act and, if required under the terms of such arrangement, such
Purchaser may transfer pledged or secured Securities to the pledgees or secured parties. Such a pledge or transfer would not be
subject to approval of the Company and no legal opinion of legal counsel of the pledgee, secured party or pledgor shall be required
in connection therewith. Further, no notice shall be required of such pledge. At the appropriate Purchaser&rsquo;s expense, the
Company will execute and deliver such reasonable documentation as a pledgee or secured party of Securities may reasonably request
in connection with a pledge or transfer of the Securities, including, if the Securities are subject to registration pursuant to
the Registration Rights, the preparation and filing of any required prospectus supplement under Rule 424(b)(3) under the Securities
Act or other applicable provision of the Securities Act to appropriately amend the list of selling shareholders (as listed in
the Registration Statement) thereunder.</FONT></P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="font-size: 10pt; vertical-align: top">
<TD STYLE="font-size: 10pt; width: 0.75in"></TD><TD STYLE="font-size: 10pt; width: 0.25in"><FONT STYLE="font-size: 10pt">c.</FONT></TD><TD STYLE="font-size: 10pt; text-align: justify"><FONT STYLE="font-size: 10pt">Shares
                                         and Warrant Shares shall not contain any legend (including the legend set forth in Section
                                         &#8206;7&#8206;b hereof) while a registration statement (including the Registration Statement)
                                         covering the resale of such security is effective under the Securities Act. The Company
                                         shall cause its counsel to issue a legal opinion to the Transfer Agent or the Purchaser
                                         promptly after the Effective Date if required by the Transfer Agent to effect the removal
                                         of the legend hereunder, or if requested by a Purchaser. If all or any portion of Warrant
                                         is exercised at a time when there is an effective registration statement (including the
                                         Registration Statement) to cover the resale of the Warrant Shares, then such Shares and
                                         Warrant Shares shall be issued free of all legends.</FONT></TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="font-size: 10pt; vertical-align: top">
<TD STYLE="font-size: 10pt; width: 0.75in"></TD><TD STYLE="font-size: 10pt; width: 0.25in"><FONT STYLE="font-size: 10pt">d.</FONT></TD><TD STYLE="font-size: 10pt; text-align: justify"><FONT STYLE="font-size: 10pt">Each
                                         Purchaser, severally and not jointly with the other Purchasers, agrees with the Company
                                         that such Purchaser will sell any Securities pursuant to either the registration requirements
                                         of the Securities Act, including any applicable prospectus delivery requirements, or
                                         an exemption therefrom, and that if Securities are sold pursuant to a Registration Statement,
                                         they will be sold in compliance with the plan of distribution set forth therein, and
                                         acknowledges that the removal of the restrictive legend the applicable Securities as
                                         set forth in this Section &#8206;7 is predicated upon the Company&rsquo;s reliance upon
                                         this understanding.</FONT></TD></TR></TABLE>

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

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<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="font-size: 10pt; vertical-align: top">
<TD STYLE="font-size: 10pt; width: 0.25in"></TD><TD STYLE="font-size: 10pt; width: 0.25in"><FONT STYLE="font-size: 10pt">8.</FONT></TD><TD STYLE="font-size: 10pt; text-align: justify"><FONT STYLE="font-size: 10pt"><U>Furnishing
                                         of Information; Public Information</U>. Until the earlier of the time that (i) no Purchaser
                                         owns Securities or (ii) the Warrants have expired, the Company covenants to maintain
                                         the registration of the ADSs under Section 12(b) or 12(g) of the Exchange Act and to
                                         timely file (or obtain extensions in respect thereof and file within the applicable grace
                                         period) all reports required to be filed by the Company after the date hereof pursuant
                                         to the Exchange Act even if the Company is not then subject to the reporting requirements
                                         of the Exchange Act (including satisfying all current public information requirement
                                         under Rule 144(c)).</FONT></TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="font-size: 10pt; vertical-align: top">
<TD STYLE="font-size: 10pt; width: 0.25in"></TD><TD STYLE="font-size: 10pt; width: 0.25in"><FONT STYLE="font-size: 10pt">9.</FONT></TD><TD STYLE="font-size: 10pt; text-align: justify"><FONT STYLE="font-size: 10pt"><U>Integration</U>.
                                         The Company shall not sell, offer for sale or solicit offers to buy or otherwise negotiate
                                         in respect of any security (as defined in Section 2 of the Securities Act) that would
                                         be integrated with the offer or sale of the Securities in a manner that would require
                                         the registration under the Securities Act of the sale of the Securities or that would
                                         be integrated with the offer or sale of the Securities for purposes of the rules and
                                         regulations of any Trading Market such that it would require shareholder approval prior
                                         to the closing of such other transaction unless shareholder approval is obtained before
                                         the closing of such subsequent transaction.</FONT></TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="font-size: 10pt; vertical-align: top">
<TD STYLE="font-size: 10pt; width: 0.25in"></TD><TD STYLE="font-size: 10pt; width: 0.25in"><FONT STYLE="font-size: 10pt">10.</FONT></TD><TD STYLE="font-size: 10pt; text-align: justify"><FONT STYLE="font-size: 10pt"><U>Exercise
                                         Procedures</U>. Each of the form of Notice of Exercise included in the Warrants set forth
                                         the totality of the procedures required of the Purchasers in order to exercise the Warrants.
                                         Without limiting the preceding sentences, no ink-original Notice of Exercise shall be
                                         required, nor shall any medallion guarantee (or other type of guarantee or notarization)
                                         of any Notice of Exercise form be required in order to exercise the Warrants. No additional
                                         legal opinion, other information or instructions shall be required of the Purchasers
                                         to exercise their Warrants. The Company shall honor exercises of the Warrants and shall
                                         deliver or cause to be delivered Warrant Shares in accordance with the terms, conditions
                                         and time periods set forth in the Transaction Documents.</FONT></TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="font-size: 10pt; vertical-align: top">
<TD STYLE="font-size: 10pt; width: 0.25in"></TD><TD STYLE="font-size: 10pt; width: 0.25in"><FONT STYLE="font-size: 10pt">11.</FONT></TD><TD STYLE="font-size: 10pt; text-align: justify"><FONT STYLE="font-size: 10pt"><U>Securities
                                         Laws Disclosure; Publicity</U>. The Company shall (a) by the Disclosure Time, issue a
                                         press release disclosing the material terms of the transactions contemplated hereby,
                                         and (b) file an Immediate Report on Form 8-K, including the Transaction Documents as
                                         exhibits thereto, with the Commission within the time required by the Exchange Act. From
                                         and after the issuance of such press release, the Company represents to the Purchasers
                                         that it shall have publicly disclosed all material, non-public information delivered
                                         to any of the Purchasers by the Company or any of its Subsidiaries, or any of their respective
                                         officers, directors, employees or agents in connection with the transactions contemplated
                                         by the Transaction Documents. In addition, effective upon the issuance of such press
                                         release, the Company acknowledges and agrees that any and all confidentiality or similar
                                         obligations under any agreement, whether written or oral, between the Company, any of
                                         its Subsidiaries or any of their respective officers, directors, agents, employees or
                                         Affiliates on the one hand, and any of the Purchasers or any of their Affiliates on the
                                         other hand, shall terminate. The Company and each Purchaser shall consult with each other
                                         in issuing any other press releases with respect to the transactions contemplated hereby,
                                         and neither the Company nor any Purchaser shall issue any such press release nor otherwise
                                         make any such public statement without the prior consent of the Company, with respect
                                         to any press release of any Purchaser, or without the prior consent of each Purchaser,
                                         with respect to any press release of the Company, which consent shall not unreasonably
                                         be withheld or delayed, except if such disclosure is required by law, in which case the
                                         disclosing party shall promptly provide the other party with prior notice of such public
                                         statement or communication. Notwithstanding the foregoing, the Company shall not be required
                                         to obtain the approval of any Purchaser for any press releases not associated with the
                                         transactions contemplated hereby. Notwithstanding the foregoing, the Company shall not
                                         publicly disclose the name of any Purchaser, or include the name of any Purchaser in
                                         any filing with the Commission or any regulatory agency or Trading Market, without the
                                         prior written consent of such Purchaser, except (a) as required by federal securities
                                         law in connection with (i) any Registration Statement contemplated by the Registration
                                         Rights and (ii) the filing of final Transaction Documents
with the Commission, (b) to the extent such disclosure is required by law or Trading Market regulations, in which case the Company
shall provide the Purchasers with prior notice of such disclosure permitted under this clause (b) and (c) the listing of Purchaser&rsquo;s
name in the Company&rsquo;s register of securities holders, which registry is open to the security holders of the Company and
which may be filed publicly by the Company from time to time.</FONT></TD></TR></TABLE>

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

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="font-size: 10pt; vertical-align: top">
<TD STYLE="font-size: 10pt; width: 0.25in"></TD><TD STYLE="font-size: 10pt; width: 0.25in"><FONT STYLE="font-size: 10pt">12.</FONT></TD><TD STYLE="font-size: 10pt; text-align: justify"><FONT STYLE="font-size: 10pt"><U>Non-Public
                                         Information</U>. Except with respect to the material terms and conditions of the transactions
                                         contemplated by the Transaction Documents, which shall be disclosed pursuant to Section
                                         11, the Company covenants and agrees that neither it, nor any other Person acting on
                                         its behalf will provide any Purchaser or its agents or counsel with any information that
                                         constitutes, or the Company reasonably believes constitutes, material non-public information,
                                         unless prior thereto such Purchaser shall have entered into a written agreement with
                                         the Company regarding the confidentiality and use of such information. The Company understands
                                         and confirms that each Purchaser shall be relying on the foregoing covenant in effecting
                                         transactions in securities of the Company. To the extent that the Company delivers any
                                         material, non-public information to a Purchaser without such Purchaser&rsquo;s consent,
                                         the Company hereby covenants and agrees that such Purchaser shall not have any duty of
                                         confidentiality to Company, any of its Subsidiaries, or any of their respective officers,
                                         directors, agents, employees or Affiliates, or a duty to the Company, and of its Subsidiaries
                                         or any of their respective officers, directors, agents, employees or Affiliates not to
                                         trade on the basis of, such material, non-public information, provided that the Purchaser
                                         shall remain subject to applicable law. To the extent that any notice provided pursuant
                                         to any Transaction Document constitutes, or contains, material, non-public information
                                         regarding the Company or any Subsidiaries, the Company shall simultaneously file such
                                         notice with the Commission pursuant to a Current Report on Form 6-K. The Company understands
                                         and confirms that each Purchaser shall be relying on the foregoing covenant in effecting
                                         transactions in securities of the Company.</FONT></TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="font-size: 10pt; vertical-align: top">
<TD STYLE="font-size: 10pt; width: 0.25in"></TD><TD STYLE="font-size: 10pt; width: 0.25in"><FONT STYLE="font-size: 10pt">13.</FONT></TD><TD STYLE="font-size: 10pt; text-align: justify"><FONT STYLE="font-size: 10pt"><U>Indemnification
                                         of Purchasers</U>. Subject to the provisions of this Section &#8206;13, the Company will
                                         indemnify and hold each Purchaser and its directors, officers, shareholders, members,
                                         partners, employees and agents (and any other Persons with a functionally equivalent
                                         role of a Person holding such titles notwithstanding a lack of such title or any other
                                         title), each Person who controls such Purchaser (within the meaning of Section 15 of
                                         the Securities Act and Section 20 of the Exchange Act), and the directors, officers,
                                         shareholders, agents, members, partners or employees (and any other Persons with a functionally
                                         equivalent role of a Person holding such titles notwithstanding a lack of such title
                                         or any other title) of such controlling persons (each, a &ldquo;<U>Purchaser Party</U>&rdquo;)
                                         harmless from any and all losses, liabilities, obligations, claims, contingencies, damages,
                                         costs and expenses, including all judgments, amounts paid in settlements, court costs
                                         and reasonable attorneys&rsquo; fees and costs of investigation that any such Purchaser
                                         Party may suffer or incur as a result of or relating to (a) any breach of any of the
                                         representations, warranties, covenants or agreements made by the Company in this Agreement
                                         or in the other Transaction Documents or (b) any action instituted against a Purchaser
                                         Party in any capacity, or any of them or their respective Affiliates, by any shareholder
                                         of the Company who is not an Affiliate of such Purchaser Party, with respect to any of
                                         the transactions contemplated by the Transaction Documents (unless such action is based
                                         upon a material breach of such Purchaser Party&rsquo;s representations, warranties or
                                         covenants under the Transaction Documents or any agreements or understandings such Purchaser
                                         Party may have with any such shareholder or any violations by such Purchaser Party of
                                         state or federal securities laws or any conduct by such Purchaser Party which is determined
                                         to constitute fraud, gross negligence or willful misconduct). Notwithstanding anything
                                         to the contrary herein, the Company's indemnification obligations under this Agreement
                                         and all the Transaction Documents shall be capped with respect to each Purchaser Party
                                         up to such Purchaser's respective portion of the Subscription Amount at the Closing.
                                         If any action shall be brought against any Purchaser Party in respect of which indemnity
                                         may be sought pursuant to this Agreement, such Purchaser Party shall promptly notify
                                         the Company in writing, and the Company shall have the right to assume the defense thereof
                                         with counsel of its own choosing reasonably acceptable to the Purchaser Party. Any Purchaser
                                         Party shall have the right to employ separate counsel in any such action and participate
                                         in the defense thereof, but the fees and expenses of such counsel shall be at the expense
                                         of such Purchaser Party except to the extent that (i) the employment thereof has been
                                         specifically authorized by the Company in writing, (ii) the Company has failed after
                                         a reasonable period of time to assume such defense and to employ counsel or (iii) in
                                         such action there is, in the reasonable opinion of counsel, a material conflict on any
                                         material issue between the position of the Company and the position of such Purchaser
                                         Party, in which case the Company shall be responsible for the reasonable fees and expenses
                                         of no more than one such separate counsel for all Purchasers (who do not have such conflicts
                                         between themselves). The Company will not be liable to any Purchaser Party under this
                                         Agreement (y) for any settlement by a Purchaser Party effected without the Company&rsquo;s
                                         prior written consent, which shall not be unreasonably withheld or delayed; or (z) to
                                         the extent, but only to the extent that a loss, claim, damage or liability is attributable
                                         to any Purchaser Party&rsquo;s breach of any of the representations, warranties, covenants
                                         or agreements made by such Purchaser Party in this Agreement or in the other Transaction
                                         Documents. The indemnification required by this Section &#8206;13 shall be made by periodic
                                         payments of the amount thereof during the course of the investigation or defense, as
                                         and when bills are received or are incurred.</FONT></TD></TR></TABLE>

<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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<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="font-size: 10pt; vertical-align: top">
<TD STYLE="font-size: 10pt; width: 0.25in"></TD><TD STYLE="font-size: 10pt; width: 0.25in"><FONT STYLE="font-size: 10pt">14.</FONT></TD><TD STYLE="font-size: 10pt; text-align: justify"><FONT STYLE="font-size: 10pt"><U>Listing
                                         of Securities</U>. The Company hereby agrees to use best efforts to maintain the listing
                                         or quotation of the ADSs on each Trading Market on which each is currently listed, and
                                         concurrently with the Closing, if required, the Company shall apply to list or quote
                                         all of the Shares, and Warrant Shares on such Trading Markets and promptly secure the
                                         listing of all of the Shares and Warrant Shares on such Trading Markets.</FONT></TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="font-size: 10pt; vertical-align: top">
<TD STYLE="font-size: 10pt; width: 0.25in"></TD><TD STYLE="font-size: 10pt; width: 0.25in"><FONT STYLE="font-size: 10pt">15.</FONT></TD><TD STYLE="font-size: 10pt; text-align: justify"><FONT STYLE="font-size: 10pt"><U>Equal
                                         Treatment of Purchasers</U>. No consideration (including any modification of any Transaction
                                         Document) shall be offered or paid to any Person to amend or consent to a waiver or modification
                                         of any provision of the Transaction Documents unless the same consideration is also offered
                                         to all of the parties to such Transaction Documents. For clarification purposes, this
                                         provision constitutes a separate right granted to each Purchaser by the Company and negotiated
                                         separately by each Purchaser, and is intended for the Company to treat the Purchasers
                                         as a class and shall not in any way be construed as the Purchasers acting in concert
                                         or as a group with respect to the purchase, disposition or voting of Securities or otherwise.</FONT></TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="font-size: 10pt; vertical-align: top">
<TD STYLE="font-size: 10pt; width: 0.25in"></TD><TD STYLE="font-size: 10pt; width: 0.25in"><FONT STYLE="font-size: 10pt">16.</FONT></TD><TD STYLE="font-size: 10pt; text-align: justify"><FONT STYLE="font-size: 10pt"><U>Certain
                                         Transactions and Confidentiality</U>. Each Purchaser, severally and not jointly with
                                         the other Purchasers, covenants that neither it, nor any Affiliate acting on its behalf
                                         or pursuant to any understanding with it will execute any purchases or sales, including
                                         Short Sales, of any of the Company&rsquo;s securities during the period commencing with
                                         the execution of this Agreement and ending at such time that the transactions contemplated
                                         by this Agreement are first publicly announced pursuant to the initial press release
                                         as described in Section 11.&nbsp; Each Purchaser, severally and not jointly with the
                                         other Purchasers, covenants that until such time as the transactions contemplated by
                                         this Agreement are publicly disclosed by the Company pursuant to the initial press release
                                         as described in Section 11, such Purchaser will maintain the confidentiality of the existence
                                         and terms of this transaction and the information included in the Disclosure Schedules.
                                         Notwithstanding the foregoing, and notwithstanding anything contained in this Agreement
                                         to the contrary, the Company expressly acknowledges and agrees that (i) no Purchaser
                                         makes any representation, warranty or covenant hereby that it will not engage in effecting
                                         transactions in any securities of the Company after the time that the transactions contemplated
                                         by this Agreement are first publicly announced pursuant to the initial press release
                                         as described in Section 11, (ii) no Purchaser shall be restricted or prohibited from
                                         effecting any transactions in any securities of the Company in accordance with applicable
                                         securities laws from and after the time that the transactions contemplated by this Agreement
                                         are first publicly announced pursuant to the initial press release as described in Section
                                         11 and (iii) no Purchaser shall have any duty of confidentiality or duty not to trade
                                         in the securities of the Company to the Company or its Subsidiaries after the issuance
                                         of the initial press release as described in Section 11.&nbsp; Notwithstanding the foregoing,
                                         in the case of a Purchaser that is a multi-managed investment vehicle whereby separate
                                         portfolio managers manage separate portions of such Purchaser&rsquo;s assets and the
                                         portfolio managers have no direct knowledge of the investment decisions made by the portfolio
                                         managers managing other portions of such Purchaser&rsquo;s assets, the covenant set forth
                                         above shall only apply with respect to the portion of assets managed by the portfolio
                                         manager that made the investment decision to purchase the Securities covered by this
                                         Agreement.</FONT></TD></TR></TABLE>

<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>

<!-- Field: Page; Sequence: 20 -->
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="font-size: 10pt; vertical-align: top">
<TD STYLE="font-size: 10pt; width: 0.25in"></TD><TD STYLE="font-size: 10pt; width: 0.25in"><FONT STYLE="font-size: 10pt">17.</FONT></TD><TD STYLE="font-size: 10pt; text-align: justify"><FONT STYLE="font-size: 10pt"><U>Form
                                         D; Blue Sky Filings</U>. The Company agrees to timely file a Form D with respect to the
                                         Securities as required under Regulation D and to provide a copy thereof, promptly upon
                                         request of any Purchaser. The Company shall take such action as the Company shall reasonably
                                         determine is necessary in order to obtain an exemption for, or to qualify the Securities
                                         for, sale to the Purchasers at the Closing under applicable securities or &ldquo;Blue
                                         Sky&rdquo; laws of the states of the United States, and shall provide evidence of such
                                         actions promptly upon request of any Purchaser.</FONT></TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="font-size: 10pt; vertical-align: top">
<TD STYLE="font-size: 10pt; width: 0.25in"></TD><TD STYLE="font-size: 10pt; width: 0.25in"><FONT STYLE="font-size: 10pt">18.</FONT></TD><TD STYLE="font-size: 10pt; text-align: justify"><FONT STYLE="font-size: 10pt"><U>Registration
                                         Statement</U>.</FONT></TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="font-size: 10pt; vertical-align: top">
<TD STYLE="font-size: 10pt; width: 0.75in"></TD><TD STYLE="font-size: 10pt; width: 0.25in"><FONT STYLE="font-size: 10pt">a.</FONT></TD><TD STYLE="font-size: 10pt; text-align: justify"><FONT STYLE="font-size: 10pt">The
                                         Company agrees that, within thirty (30) calendar days after the consummation of the Transactions
                                         (the &ldquo;&#8206;a&rdquo;), the Company will file with the Commission (at the Company&rsquo;s
                                         sole cost and expense) a Registration Statement registering the resale of the Shares,
                                         and the Warrant Shares and the Company shall use its commercially reasonable efforts
                                         to have the Registration Statement declared effective as soon as practicable after the
                                         filing thereof, but no later than the earlier of (i) the 60th calendar day (or 90th calendar
                                         day if the Commission notifies the Company that it will &ldquo;review&rdquo; the Registration
                                         Statement) following the Closing and (ii) the 10th Business Day after the date the Company
                                         is notified (orally or in writing, whichever is earlier) by the Commission that the Registration
                                         Statement will not be &ldquo;reviewed&rdquo; or will not be subject to further review
                                         (such earlier date, the &ldquo;<U>Effectiveness Date</U>&rdquo;); provided, however,
                                         that the Company&rsquo;s obligations to include the Shares and the Warrant Shares in
                                         the Registration Statement are contingent upon Purchaser furnishing in writing to the
                                         Company such information regarding Purchaser, the securities of the Company held by Purchaser
                                         and the intended method of disposition of the Shares and the Warrant Shares as shall
                                         be reasonably requested by the Company to effect the registration of the Shares and the
                                         Warrant Shares, and Purchaser shall execute such documents in connection with such registration
                                         as the Company may reasonably request that are customary of a selling shareholder in
                                         similar situations, including providing that the Company shall be entitled to postpone
                                         and suspend the effectiveness or use of the Registration Statement during any customary
                                         blackout or similar period or as permitted hereunder. For purposes of clarification,
                                         any failure by the Company to file the Registration Statement by the Filing Date or to
                                         effect such Registration Statement by the Effectiveness Date shall not otherwise relieve
                                         the Company of its obligations to file or effect the Registration Statement as set forth
                                         above in this Section&#8206;18.</FONT></TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="font-size: 10pt; vertical-align: top">
<TD STYLE="font-size: 10pt; width: 0.75in"></TD><TD STYLE="font-size: 10pt; width: 0.25in"><FONT STYLE="font-size: 10pt">b.</FONT></TD><TD STYLE="font-size: 10pt; text-align: justify"><FONT STYLE="font-size: 10pt">The
                                         Company shall, upon reasonable request, inform Purchaser as to the status of the registration
                                         effected by the Company pursuant to this Agreement. At its expense, the Company shall:</FONT></TD></TR></TABLE>

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

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

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="font-size: 10pt; vertical-align: top">
<TD STYLE="font-size: 10pt; width: 99pt"></TD><TD STYLE="font-size: 10pt; width: 9pt"><FONT STYLE="font-size: 10pt">i.</FONT></TD><TD STYLE="font-size: 10pt; text-align: justify"><FONT STYLE="font-size: 10pt">except
                                         for such times as the Company is permitted hereunder to suspend the use of the prospectus
                                         forming part of a Registration Statement, use its commercially reasonable efforts to
                                         keep such registration, and any qualification, exemption or compliance under state securities
                                         laws which the Company determines to obtain, continuously effective with respect to Purchaser,
                                         and to keep the applicable Registration Statement or any subsequent shelf registration
                                         statement free of any material misstatements or omissions, until the earlier of the following:
                                         (i) Purchaser ceases to hold any Shares, (ii) the date all Shares held by Purchaser may
                                         be sold without restriction under Rule 144, including any volume and manner of sale restrictions
                                         under Rule 144 and without the requirement for the Company to be in compliance with the
                                         current public information required under Rule 144(c)(1) (or Rule 144(i)(2), if applicable),
                                         and (iii) three years from the Effectiveness Date of the Registration Statement;</FONT></TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="font-size: 10pt; vertical-align: top">
<TD STYLE="font-size: 10pt; width: 99pt"></TD><TD STYLE="font-size: 10pt; width: 9pt"><FONT STYLE="font-size: 10pt">ii.</FONT></TD><TD STYLE="font-size: 10pt; text-align: justify"><FONT STYLE="font-size: 10pt">Advise
                                         Purchaser as expeditiously as possible, but in any event within five (5) Business Days:</FONT></TD></TR></TABLE>

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


<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="font-size: 10pt; vertical-align: top">
<TD STYLE="font-size: 10pt; width: 1.75in"></TD><TD STYLE="font-size: 10pt; width: 0.25in"><FONT STYLE="font-size: 10pt">1.</FONT></TD><TD STYLE="font-size: 10pt; text-align: justify"><FONT STYLE="font-size: 10pt">when
                                         the Registration Statement or any post-effective amendment thereto has become effective;</FONT></TD></TR>
<TR STYLE="font-size: 10pt; vertical-align: top">
<TD STYLE="font-size: 10pt; width: 1.75in"></TD><TD STYLE="font-size: 10pt; width: 0.25in"><FONT STYLE="font-size: 10pt">2.</FONT></TD><TD STYLE="font-size: 10pt; text-align: justify"><FONT STYLE="font-size: 10pt">of
                                         the issuance by the Commission of any stop order suspending the effectiveness of the
                                         Registration Statement or the initiation of any proceedings for such purpose; and</FONT></TD></TR>
<TR STYLE="font-size: 10pt; vertical-align: top">
<TD STYLE="font-size: 10pt; width: 1.75in"></TD><TD STYLE="font-size: 10pt; width: 0.25in"><FONT STYLE="font-size: 10pt">3.</FONT></TD><TD STYLE="font-size: 10pt; text-align: justify"><FONT STYLE="font-size: 10pt">of
                                         the receipt by the Company of any notification with respect to the suspension of the
                                         qualification of the Shares included therein for sale in any jurisdiction or the initiation
                                         or threatening of any proceeding for such purpose.</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 2.25in; text-align: justify"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-size: 10pt">Notwithstanding
anything to the contrary set forth herein, the Company shall not, when so advising Purchaser of such events, provide Purchaser
with any material, nonpublic information regarding the Company other than to the extent that providing notice to Purchaser of
the occurrence of the events listed in &#8206;1(1) through (3) above constitutes material, nonpublic information regarding the
Company;</FONT></P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="font-size: 10pt; vertical-align: top">
<TD STYLE="font-size: 10pt; width: 99pt"></TD><TD STYLE="font-size: 10pt; width: 9pt"><FONT STYLE="font-size: 10pt">iii.</FONT></TD><TD STYLE="font-size: 10pt; text-align: justify"><FONT STYLE="font-size: 10pt">Use
                                         its commercially reasonable efforts to obtain the withdrawal of any order suspending
                                         the effectiveness of the Registration Statement as soon as reasonably practicable;</FONT></TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="font-size: 10pt; vertical-align: top">
<TD STYLE="font-size: 10pt; width: 99pt"></TD><TD STYLE="font-size: 10pt; width: 9pt"><FONT STYLE="font-size: 10pt">iv.</FONT></TD><TD STYLE="font-size: 10pt; text-align: justify"><FONT STYLE="font-size: 10pt">Upon
                                         the occurrence of any event that requires the making of any changes in the Registration
                                         Statement or prospectus so that, as of such date, the statements therein are not misleading
                                         and do not omit to state a material fact required to be stated therein or necessary to
                                         make the statements therein (in the case of a prospectus, in light of the circumstances
                                         under which they were made) not misleading, except for such times as the Company is permitted
                                         hereunder to suspend, and has suspended, the use of a prospectus forming part of the
                                         Registration Statement, the Company shall use its commercially reasonable efforts to
                                         as soon as reasonably practicable prepare a post-effective amendment to the Registration
                                         Statement or a supplement to the related prospectus, or file any other required document
                                         so that, as thereafter delivered to purchasers of the Shares included therein, such prospectus
                                         will not include any untrue statement of a material fact or omit to state any material
                                         fact necessary to make the statements therein, in the light of the circumstances under
                                         which they were made, not misleading; and</FONT></TD></TR></TABLE>

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

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

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="font-size: 10pt; vertical-align: top">
<TD STYLE="font-size: 10pt; width: 99pt"></TD><TD STYLE="font-size: 10pt; width: 9pt"><FONT STYLE="font-size: 10pt">v.</FONT></TD><TD STYLE="font-size: 10pt; text-align: justify"><FONT STYLE="font-size: 10pt">Use its
                                         commercially reasonable efforts to cause all Shares to be listed on each securities exchange
                                         or market, if any, on which the Company&rsquo;s Shares are then listed.</FONT></TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="font-size: 10pt; vertical-align: top">
<TD STYLE="font-size: 10pt; width: 99pt"></TD><TD STYLE="font-size: 10pt; width: 9pt"><FONT STYLE="font-size: 10pt">vi.</FONT></TD><TD STYLE="font-size: 10pt; text-align: justify"><FONT STYLE="font-size: 10pt">Notwithstanding
                                         anything to the contrary in this Agreement, the Company shall not have any obligation
                                         to prepare any prospectus supplement, participate in any due diligence, execute any agreements
                                         or certificates or deliver legal opinions (other than customary de-legending certificates
                                         and opinions) or obtain comfort letters in connection with any sales of the Shares under
                                         the Registration Statement.</FONT></TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="font-size: 10pt; vertical-align: top">
<TD STYLE="font-size: 10pt; width: 0.75in"></TD><TD STYLE="font-size: 10pt; width: 0.25in"><FONT STYLE="font-size: 10pt">c.</FONT></TD><TD STYLE="font-size: 10pt; text-align: justify"><FONT STYLE="font-size: 10pt">Notwithstanding
                                         anything to the contrary in this Agreement, the Company shall be entitled to delay or
                                         postpone the effectiveness of the Registration Statement, and from time to time to require
                                         Purchaser not to sell under the Registration Statement or to suspend the effectiveness
                                         thereof, if the negotiation or consummation of a transaction by the Company or its subsidiaries
                                         is pending or an event has occurred, which negotiation, consummation or event the Company&rsquo;s
                                         board of directors reasonably believes, upon the advice of legal counsel (which may be
                                         in-house legal counsel), would require additional disclosure by the Company in the Registration
                                         Statement of material information that the Company has a bona fide business purpose for
                                         keeping confidential and the non-disclosure of which in the Registration Statement would
                                         be expected, in the reasonable determination of the Company&rsquo;s board of directors,
                                         upon the advice of legal counsel (which may be in-house legal counsel), to cause the
                                         Registration Statement to fail to comply with applicable disclosure requirements (each
                                         such circumstance, a &ldquo;Suspension Event&rdquo;); provided, however, that the Company
                                         may not delay or suspend the Registration Statement on more than three (3) occasions
                                         or for more than sixty (60) consecutive calendar days, or more than one hundred and twenty
                                         (120) total calendar days, in each case during any twelve (12)-month period. Upon receipt
                                         of any written notice from the Company of the happening of any Suspension Event during
                                         the period that the Registration Statement is effective or if as a result of a Suspension
                                         Event the Registration Statement or related prospectus contains any untrue statement
                                         of a material fact or omits to state any material fact required to be stated therein
                                         or necessary to make the statements therein, in light of the circumstances under which
                                         they were made (in the case of the prospectus) not misleading, Purchaser agrees that
                                         (i) it will immediately discontinue offers and sales of the Shares and the Warrant Shares
                                         under the Registration Statement (excluding, for the avoidance of doubt, sales conducted
                                         pursuant to Rule 144) until Purchaser receives copies of a supplemental or amended prospectus
                                         (which the Company agrees to promptly prepare) that corrects the misstatement(s) or omission(s)
                                         referred to above and receives notice that any post-effective amendment has become effective
                                         or unless otherwise notified by the Company that it may resume such offers and sales,
                                         and (ii) it will maintain the confidentiality of any information included in such written
                                         notice delivered by the Company unless otherwise required by law or subpoena. If so directed
                                         by the Company, Purchaser will deliver to the Company or, in Purchaser&rsquo;s sole discretion
                                         destroy, all copies of the prospectus covering the Shares and the Warrant Shares in Purchaser&rsquo;s
                                         possession; provided, however, that this obligation to deliver or destroy all copies
                                         of the prospectus covering the Shares and the Warrant Shares shall not apply (i) to the
                                         extent Purchaser is required to retain a copy of such prospectus (a) in order to comply
                                         with applicable legal, regulatory, self-regulatory or professional requirements or (b)
                                         in accordance with a bona fide pre-existing document retention policy or (ii) to copies
                                         stored electronically on archival servers as a result of automatic data back-up.</FONT></TD></TR></TABLE>

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

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

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="font-size: 10pt; vertical-align: top">
<TD STYLE="font-size: 10pt; width: 0.75in"></TD><TD STYLE="font-size: 10pt; width: 0.25in"><FONT STYLE="font-size: 10pt">d.</FONT></TD><TD STYLE="font-size: 10pt; text-align: justify"><FONT STYLE="font-size: 10pt">The
                                         Company shall, notwithstanding any termination of this Agreement, indemnify, defend and
                                         hold harmless the Purchaser (to the extent a seller under the Registration Statement),
                                         the officers, directors, agents, partners, members, managers, shareholders, affiliates,
                                         employees and investment advisers of the Purchaser, each person who controls the Purchaser
                                         (within the meaning of Section 15 of the Securities Act or Section 20 of the Exchange
                                         Act), and the officers, directors, partners, members, managers, shareholders, agents,
                                         affiliates, employees and investment advisers of each such controlling person, to the
                                         fullest extent permitted by applicable law, from and against any and all losses, claims,
                                         damages, liabilities, costs (including, without limitation, reasonable costs of preparation
                                         and investigation and reasonable attorneys&rsquo; fees) and expenses (collectively, &ldquo;Losses&rdquo;),
                                         as incurred, that arise out of or are based upon (i) any untrue or alleged untrue statement
                                         of a material fact contained in the Registration Statement, any prospectus included in
                                         the Registration Statement or any form of prospectus or in any amendment or supplement
                                         thereto or in any preliminary prospectus, or arising out of or relating to any omission
                                         or alleged omission to state a material fact required to be stated therein or necessary
                                         to make the statements therein (in the case of any prospectus or form of prospectus or
                                         supplement thereto, in light of the circumstances under which they were made) not misleading,
                                         or (ii) any violation or alleged violation by the Company of the Securities Act, the
                                         Exchange Act or any state securities law or any rule or regulation thereunder, in connection
                                         with the performance of its obligations under this Section &#8206;18, except to the extent,
                                         but only to the extent, that such untrue statements, alleged untrue statements, omissions
                                         or alleged omissions are based solely upon information regarding Purchaser furnished
                                         in writing to the Company by Purchaser expressly for use therein.</FONT></TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="font-size: 10pt; vertical-align: top">
<TD STYLE="font-size: 10pt; width: 0.75in"></TD><TD STYLE="font-size: 10pt; width: 0.25in"><FONT STYLE="font-size: 10pt">e.</FONT></TD><TD STYLE="font-size: 10pt; text-align: justify"><FONT STYLE="font-size: 10pt">The
                                         Company shall notify Purchaser promptly of the institution, threat or assertion of any
                                         proceeding arising from or in connection with the transactions contemplated by this Section
                                         of which the Company is aware. Such indemnity shall remain in full force and effect regardless
                                         of any investigation made by or on behalf of an indemnified party and shall survive the
                                         transfer of the Shares by Purchaser.</FONT></TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="font-size: 10pt; vertical-align: top">
<TD STYLE="font-size: 10pt; width: 0.75in"></TD><TD STYLE="font-size: 10pt; width: 0.25in"><FONT STYLE="font-size: 10pt">f.</FONT></TD><TD STYLE="font-size: 10pt; text-align: justify"><FONT STYLE="font-size: 10pt">Purchaser
                                         shall, severally and not jointly with any other selling shareholder named in the Registration
                                         Statement, indemnify and hold harmless the Company, its directors, officers, agents and
                                         employees, each person who controls the Company (within the meaning of Section 15 of
                                         the Securities Act and Section 20 of the Exchange Act), and the directors, officers,
                                         agents or employees of such controlling persons, to the fullest extent permitted by applicable
                                         law, from and against all Losses, as incurred, arising out of or that are based upon
                                         any untrue or alleged untrue statement of a material fact contained in the Registration
                                         Statement, any prospectus included in the Registration Statement, or any form of prospectus,
                                         or in any amendment or supplement thereto or in any preliminary prospectus, or arising
                                         out of or relating to any omission or alleged omission of a material fact required to
                                         be stated therein or necessary to make the statements therein (in the case of any prospectus,
                                         or any form of prospectus or supplement thereto, in light of the circumstances under
                                         which they were made) not misleading to the extent, but only to the extent, that such
                                         untrue statements or omissions are based solely upon information regarding Purchaser
                                         furnished in writing to the Company by Purchaser expressly for use therein. In no event
                                         shall the liability of Purchaser be greater in amount than the dollar amount of the net
                                         proceeds received by Purchaser upon the sale of the Shares and the Warrant Shares giving
                                         rise to such indemnification obligation.</FONT></TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="font-size: 10pt; vertical-align: top">
<TD STYLE="font-size: 10pt; width: 0.25in"></TD><TD STYLE="font-size: 10pt; width: 0.25in"><FONT STYLE="font-size: 10pt">19.</FONT></TD><TD STYLE="font-size: 10pt; text-align: justify"><FONT STYLE="font-size: 10pt"><U>Acknowledgment
                                         of Dilution</U>. The Company acknowledges that the issuance of the Securities may result
                                         in dilution of the outstanding ADSs, which dilution may be substantial under certain
                                         market conditions.
The Company further acknowledges that its obligations under the Transaction Documents, including, without limitation, its obligation
to issue the Shares or Warrant Shares pursuant to the Transaction Documents, are unconditional and absolute and not subject to
any right of set off, counterclaim, delay or reduction, regardless of the effect of any such dilution or any claim the Company
may have against any Purchaser and regardless of the dilutive effect that such issuance may have on the ownership of the other
shareholders of the Company.</FONT></TD></TR></TABLE>

<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"><FONT STYLE="font-size: 10pt"><B>&nbsp;</B></FONT></P>

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

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="font-size: 10pt; vertical-align: top">
<TD STYLE="font-size: 10pt; width: 0.25in"></TD><TD STYLE="font-size: 10pt; width: 0.25in"><FONT STYLE="font-size: 10pt">20.</FONT></TD><TD STYLE="font-size: 10pt; text-align: justify"><FONT STYLE="font-size: 10pt"><U>Termination</U>.&nbsp;
                                         This Agreement shall terminate and be void and of no further force and effect, and all
                                         rights and obligations of the parties hereunder shall terminate without any further liability
                                         on the part of any party in respect thereof, upon the earlier to occur of (i) such date
                                         and time as the Merger Agreement is validly terminated in accordance with its terms,
                                         (ii) upon the mutual written agreement of each of the parties hereto to terminate this
                                         Agreement, (iii)&nbsp;if any of the conditions to Closing set forth in Section &#8206;4
                                         are not satisfied or waived by the party entitled to grant such waiver on or prior to
                                         the Closing and, as a result thereof, the transactions contemplated by this Agreement
                                         are not consummated at the Closing, and (iv) if the Closing shall not have occurred on
                                         or before April 13, 2021; <U>provided</U>, that nothing herein will relieve any party
                                         from liability for any willful breach hereof prior to the time of termination, and each
                                         party will be entitled to any remedies at law or in equity to recover losses, liabilities
                                         or damages arising from such breach. The Company shall notify Purchaser of the termination
                                         of the Merger Agreement promptly after the termination of such agreement.</FONT></TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="font-size: 10pt; vertical-align: top">
<TD STYLE="font-size: 10pt; width: 0.25in"></TD><TD STYLE="font-size: 10pt; width: 0.25in"><FONT STYLE="font-size: 10pt">21.</FONT></TD><TD STYLE="font-size: 10pt; text-align: justify"><FONT STYLE="font-size: 10pt"><U>Fees
                                         and Expenses</U>. Except as expressly set forth in the Transaction Documents to the contrary,
                                         each party shall pay the fees and expenses of its advisers, counsel, accountants and
                                         other experts, if any, and all other expenses incurred by such party incident to the
                                         negotiation, preparation, execution, delivery and performance of this Agreement. The
                                         Company shall pay all Depositary fees (including, without limitation, any fees required
                                         for same-day processing of any instruction letter delivered by the Company and any exercise
                                         notice delivered by a Purchaser), stamp taxes and other taxes and duties levied in connection
                                         with the delivery of any Securities to the Purchasers.</FONT></TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="font-size: 10pt; vertical-align: top">
<TD STYLE="font-size: 10pt; width: 0.25in"></TD><TD STYLE="font-size: 10pt; width: 0.25in"><FONT STYLE="font-size: 10pt">22.</FONT></TD><TD STYLE="font-size: 10pt; text-align: justify"><FONT STYLE="font-size: 10pt"><U>Entire
                                         Agreement</U>. The Transaction Documents, together with the exhibits and schedules thereto,
                                         contain the entire understanding of the parties with respect to the subject matter hereof
                                         and thereof and supersede all prior agreements and understandings, oral or written, with
                                         respect to such matters, which the parties acknowledge have been merged into such documents,
                                         exhibits and schedules.</FONT></TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="font-size: 10pt; vertical-align: top">
<TD STYLE="font-size: 10pt; width: 0.25in"></TD><TD STYLE="font-size: 10pt; width: 0.25in"><FONT STYLE="font-size: 10pt">23.</FONT></TD><TD STYLE="font-size: 10pt; text-align: justify"><FONT STYLE="font-size: 10pt"><U>Notices</U>.
                                         Any and all notices or other communications or deliveries required or permitted to be
                                         provided hereunder shall be in writing and shall be deemed given and effective on the
                                         earliest of: (a) the time of transmission, if such notice or communication is delivered
                                         via facsimile at the facsimile number or email attachment at the email address as set
                                         forth on the signature pages attached hereto at or prior to 5:30 p.m. (New York City
                                         time) on a Trading Day, (b) the next Trading Day after the date of transmission, if such
                                         notice or communication is delivered via facsimile at the facsimile number or email attachment
                                         at the email address as set forth on the signature pages attached hereto on a day that
                                         is not a Trading Day or later than 5:30 p.m. (New York City time) on any Trading Day,
                                         (c) the second (2<SUP>nd</SUP>) Trading Day following the date of mailing, if sent by
                                         U.S. nationally recognized overnight courier service or (d) upon actual receipt by the
                                         party to whom such notice is required to be given. The address for such notices and communications
                                         shall be as set forth on the signature pages attached hereto. To the extent that any
                                         notice provided pursuant to any Transaction Document constitutes, or contains, material,
                                         non-public information regarding the Company or any Subsidiaries, the Company shall simultaneously
                                         file such notice with the Commission pursuant to a Current Report on Form 6-K.</FONT></TD></TR></TABLE>

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

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

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<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="font-size: 10pt; vertical-align: top">
<TD STYLE="font-size: 10pt; width: 0.25in"></TD><TD STYLE="font-size: 10pt; width: 0.25in"><FONT STYLE="font-size: 10pt">24.</FONT></TD><TD STYLE="font-size: 10pt; text-align: justify"><FONT STYLE="font-size: 10pt"><U>Amendments;
                                         Waivers</U>. No provision of this Agreement may be waived, modified, supplemented or
                                         amended except in a written instrument signed, in the case of an amendment, by the Company
                                         and the Purchasers who purchased at least 50.1% in interest of the Shares based on the
                                         initial Subscription Amounts hereunder or, in the case of a waiver, by the party against
                                         whom enforcement of any such waived provision is sought, provided that if any amendment,
                                         modification or waiver disproportionately and adversely impacts a Purchaser (or group
                                         of Purchasers), the consent of such disproportionately impacted Purchaser (or group of
                                         Purchasers) shall also be required. No waiver of any default with respect to any provision,
                                         condition or requirement of this Agreement shall be deemed to be a continuing waiver
                                         in the future or a waiver of any subsequent default or a waiver of any other provision,
                                         condition or requirement hereof, nor shall any delay or omission of any party to exercise
                                         any right hereunder in any manner impair the exercise of any such right. Any proposed
                                         amendment or waiver that disproportionately, materially and adversely affects the rights
                                         and obligations of any Purchaser relative to the comparable rights and obligations of
                                         the other Purchasers shall require the prior written consent of such adversely affected
                                         Purchaser. Any amendment effected in accordance with this Section &#8206;24 shall be
                                         binding upon each Purchaser and holder of Securities and the Company.</FONT></TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="font-size: 10pt; vertical-align: top">
<TD STYLE="font-size: 10pt; width: 0.25in"></TD><TD STYLE="font-size: 10pt; width: 0.25in"><FONT STYLE="font-size: 10pt">25.</FONT></TD><TD STYLE="font-size: 10pt; text-align: justify"><FONT STYLE="font-size: 10pt"><U>Headings</U>.
                                         The headings herein are for convenience only, do not constitute a part of this Agreement
                                         and shall not be deemed to limit or affect any of the provisions hereof.</FONT></TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="font-size: 10pt; vertical-align: top">
<TD STYLE="font-size: 10pt; width: 0.25in"></TD><TD STYLE="font-size: 10pt; width: 0.25in"><FONT STYLE="font-size: 10pt">26.</FONT></TD><TD STYLE="font-size: 10pt; text-align: justify"><FONT STYLE="font-size: 10pt"><U>Successors
                                         and Assigns</U>. This Agreement shall be binding upon and inure to the benefit of the
                                         parties and their successors and permitted assigns. The Company may not assign this Agreement
                                         or any rights or obligations hereunder without the prior written consent of each Purchaser
                                         (other than by merger). Any Purchaser may assign any or all of its rights under this
                                         Agreement to any Person to whom such Purchaser assigns or transfers any Securities, provided
                                         that such transferee agrees in writing to be bound, with respect to the transferred Securities,
                                         by the provisions of the Transaction Documents that apply to the &ldquo;Purchasers.&rdquo;</FONT></TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="font-size: 10pt; vertical-align: top">
<TD STYLE="font-size: 10pt; width: 0.25in"></TD><TD STYLE="font-size: 10pt; width: 0.25in"><FONT STYLE="font-size: 10pt">27.</FONT></TD><TD STYLE="font-size: 10pt; text-align: justify"><FONT STYLE="font-size: 10pt"><U>No
                                         Third Party Beneficiaries</U>. This Agreement is intended for the benefit of the parties
                                         hereto and their respective successors and permitted assigns and is not for the benefit
                                         of, nor may any provision hereof be enforced by, any other Person, except that the Placement
                                         Agent shall be entitled to rely on and enforce the representations, warranties and agreements
                                         of the Company as set forth in Section 5(u).</FONT></TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="font-size: 10pt; vertical-align: top">
<TD STYLE="font-size: 10pt; width: 0.25in"></TD><TD STYLE="font-size: 10pt; width: 0.25in"><FONT STYLE="font-size: 10pt">28.</FONT></TD><TD STYLE="font-size: 10pt; text-align: justify"><FONT STYLE="font-size: 10pt"><U>Governing
                                         Law</U>. All questions concerning the construction, validity, enforcement and interpretation
                                         of the Transaction Documents shall be governed by and construed and enforced in accordance
                                         with the internal laws of the State of New York, without regard to the principles of
                                         conflicts of law thereof. Each party agrees that all legal Proceedings concerning the
                                         interpretations, enforcement and defense of the transactions contemplated by this Agreement
                                         and any other Transaction Documents (whether brought against a party hereto or its respective
                                         affiliates, directors, officers, shareholders, partners, members, employees or agents)
                                         shall be commenced exclusively in the state and federal courts sitting in the City of
                                         New York. Each party hereby irrevocably submits to the 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 herewith or with any transaction
                                         contemplated hereby or discussed herein (including with respect to the enforcement of
                                         any of the Transaction Documents), and hereby irrevocably waives, and agrees not to assert
                                         in any Action or Proceeding, any claim that it is not personally subject to the jurisdiction
                                         of any such court, that such Action or Proceeding is improper or is an inconvenient venue
                                         for such Proceeding. Each party hereby irrevocably waives personal service of process
                                         and consents to process being served in any such Action or Proceeding by mailing a copy
                                         thereof via registered or certified mail or
overnight delivery (with evidence of delivery) 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 other manner permitted by law. If any party shall commence
an Action or Proceeding to enforce any provisions of the Transaction Documents, then, in addition to the obligations of the Company
under Section&#8206;14, the prevailing party in such Action or Proceeding shall be reimbursed by the non-prevailing party for
its reasonable attorneys&rsquo; fees and other costs and expenses incurred with the investigation, preparation and prosecution
of such Action or Proceeding.</FONT></TD></TR></TABLE>

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

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

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="font-size: 10pt; vertical-align: top">
<TD STYLE="font-size: 10pt; width: 0.25in"></TD><TD STYLE="font-size: 10pt; width: 0.25in"><FONT STYLE="font-size: 10pt">29.</FONT></TD><TD STYLE="font-size: 10pt; text-align: justify"><FONT STYLE="font-size: 10pt"><U>Survival</U>.
                                         The representations and warranties contained herein shall survive the Closing and the
                                         delivery of the Securities for the applicable statute of limitations.</FONT></TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="font-size: 10pt; vertical-align: top">
<TD STYLE="font-size: 10pt; width: 0.25in"></TD><TD STYLE="font-size: 10pt; width: 0.25in"><FONT STYLE="font-size: 10pt">30.</FONT></TD><TD STYLE="font-size: 10pt; text-align: justify"><FONT STYLE="font-size: 10pt"><U>Execution</U>.
                                         This Agreement may be executed in two or more counterparts, all of which when taken together
                                         shall be considered one and the same agreement and shall become effective when counterparts
                                         have been signed by each party and delivered to each other party, it being understood
                                         that the parties need not sign the same counterpart. In the event that any signature
                                         is delivered by facsimile transmission or by e-mail delivery of a &ldquo;.pdf&rdquo;
                                         format data file, such signature shall create a valid and binding obligation of the party
                                         executing (or on whose behalf such signature is executed) with the same force and effect
                                         as if such facsimile or &ldquo;.pdf&rdquo; signature page were an original thereof.</FONT></TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="font-size: 10pt; vertical-align: top">
<TD STYLE="font-size: 10pt; width: 0.25in"></TD><TD STYLE="font-size: 10pt; width: 0.25in"><FONT STYLE="font-size: 10pt">31.</FONT></TD><TD STYLE="font-size: 10pt; text-align: justify"><FONT STYLE="font-size: 10pt"><U>Severability</U>.
                                         If any term, provision, covenant or restriction of this Agreement is held by a court
                                         of competent jurisdiction to be invalid, illegal, void or unenforceable, the remainder
                                         of the terms, provisions, covenants and restrictions set forth herein shall remain in
                                         full force and effect and shall in no way be affected, impaired or invalidated, and the
                                         parties hereto shall use their commercially reasonable efforts to find and employ an
                                         alternative means to achieve the same or substantially the same result as that contemplated
                                         by such term, provision, covenant or restriction. It is hereby stipulated and declared
                                         to be the intention of the parties that they would have executed the remaining terms,
                                         provisions, covenants and restrictions without including any of such that may be hereafter
                                         declared invalid, illegal, void or unenforceable.</FONT></TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="font-size: 10pt; vertical-align: top">
<TD STYLE="font-size: 10pt; width: 0.25in"></TD><TD STYLE="font-size: 10pt; width: 0.25in"><FONT STYLE="font-size: 10pt">32.</FONT></TD><TD STYLE="font-size: 10pt; text-align: justify"><FONT STYLE="font-size: 10pt"><U>Rescission
                                         and Withdrawal Right</U>. Notwithstanding anything to the contrary contained in (and
                                         without limiting any similar provisions of) any of the other Transaction Documents, whenever
                                         any Purchaser exercises a right, election, demand or option under a Transaction Document
                                         and the Company does not timely perform its related obligations within the periods therein
                                         provided, then such Purchaser may rescind or withdraw, in its sole discretion from time
                                         to time upon written notice to the Company, any relevant notice, demand or election in
                                         whole or in part without prejudice to its future actions and rights.</FONT></TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="font-size: 10pt; vertical-align: top">
<TD STYLE="font-size: 10pt; width: 0.25in"></TD><TD STYLE="font-size: 10pt; width: 0.25in"><FONT STYLE="font-size: 10pt">33.</FONT></TD><TD STYLE="font-size: 10pt; text-align: justify"><FONT STYLE="font-size: 10pt"><U>Replacement
                                         of Securities</U>. If any certificate or instrument evidencing any Securities is mutilated,
                                         lost, stolen or destroyed, the Company shall issue or cause to be issued in exchange
                                         and substitution for and upon cancellation thereof (in the case of mutilation), or in
                                         lieu of and substitution therefor, a new certificate or instrument, but only upon receipt
                                         of evidence reasonably satisfactory to the Company of such loss, theft or destruction.
                                         The applicant for a new certificate or instrument under such circumstances shall also
                                         pay any reasonable third-party costs (including customary indemnity but without any requirement
                                         to post any surety bond)) associated with the issuance of such replacement Securities.</FONT></TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="font-size: 10pt; vertical-align: top">
<TD STYLE="font-size: 10pt; width: 0.25in"></TD><TD STYLE="font-size: 10pt; width: 0.25in"><FONT STYLE="font-size: 10pt">34.</FONT></TD><TD STYLE="font-size: 10pt; text-align: justify"><FONT STYLE="font-size: 10pt">5.15&nbsp;<U>Remedies</U>.
                                         In addition to being entitled to exercise all rights provided herein or granted by law,
                                         including recovery of damages, each of the Purchasers and the Company will be entitled
                                         to specific performance under the Transaction Documents. The parties agree that monetary
                                         damages may
not be adequate compensation for any loss incurred by reason of any breach of obligations contained in the Transaction Documents
and hereby agree to waive and not to assert in any Action for specific performance of any such obligation the defense that a remedy
at law would be adequate.</FONT></TD></TR></TABLE>

<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"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="font-size: 10pt; vertical-align: top">
<TD STYLE="font-size: 10pt; width: 0.25in"></TD><TD STYLE="font-size: 10pt; width: 0.25in"><FONT STYLE="font-size: 10pt">35.</FONT></TD><TD STYLE="font-size: 10pt; text-align: justify"><FONT STYLE="font-size: 10pt"><U>Payment
                                         Set Aside</U>. To the extent that the Company makes a payment or payments to any Purchaser
                                         pursuant to any Transaction Document or a Purchaser enforces or exercises its rights
                                         thereunder, and such payment or payments or the proceeds of such enforcement or exercise
                                         or any part thereof are subsequently invalidated, declared to be fraudulent or preferential,
                                         set aside, recovered from, disgorged by or are required to be refunded, repaid or otherwise
                                         restored to the Company, a trustee, receiver or any other Person under any law (including,
                                         without limitation, any bankruptcy law, state or federal law, common law or equitable
                                         cause of action), then to the extent of any such restoration the obligation or part thereof
                                         originally intended to be satisfied shall be revived and continued in full force and
                                         effect as if such payment had not been made or such enforcement or setoff had not occurred.</FONT></TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="font-size: 10pt; vertical-align: top">
<TD STYLE="font-size: 10pt; width: 0.25in"></TD><TD STYLE="font-size: 10pt; width: 0.25in"><FONT STYLE="font-size: 10pt">36.</FONT></TD><TD STYLE="font-size: 10pt; text-align: justify"><FONT STYLE="font-size: 10pt"><U>Independent
                                         Nature of Purchasers&rsquo; Obligations and Rights</U>. The obligations of each Purchaser
                                         under any Transaction Document are several and not joint with the obligations of any
                                         other Purchaser, and no Purchaser shall be responsible in any way for the performance
                                         or non-performance of the obligations of any other Purchaser under any Transaction Document.
                                         Nothing contained herein or in any other Transaction Document, and no action taken by
                                         any Purchaser pursuant hereto or thereto, shall be deemed to constitute the Purchasers
                                         as a partnership, an association, a joint venture or any other kind of entity, or create
                                         a presumption that the Purchasers are in any way acting in concert or as a group with
                                         respect to such obligations or the transactions contemplated by the Transaction Documents.
                                         Each Purchaser shall be entitled to independently protect and enforce its rights, including,
                                         without limitation, the rights arising out of this Agreement or out of the other Transaction
                                         Documents, and it shall not be necessary for any other Purchaser to be joined as an additional
                                         party in any Proceeding for such purpose. Each Purchaser has been represented by its
                                         own separate legal counsel in its review and negotiation of the Transaction Documents.
                                         The Company has elected to provide all Purchasers with the same terms and Transaction
                                         Documents for the convenience of the Company and not because it was required or requested
                                         to do so by any of the Purchasers. It is expressly understood and agreed that each provision
                                         contained in this Agreement and in each other Transaction Document is between the Company
                                         and a Purchaser, solely, and not between the Company and the Purchasers collectively
                                         and not between and among the Purchasers.</FONT></TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="font-size: 10pt; vertical-align: top">
<TD STYLE="font-size: 10pt; width: 0.25in"></TD><TD STYLE="font-size: 10pt; width: 0.25in"><FONT STYLE="font-size: 10pt">37.</FONT></TD><TD STYLE="font-size: 10pt; text-align: justify"><FONT STYLE="font-size: 10pt"><U>Saturdays,
                                         Sundays, Holidays, etc</U>. If the last or appointed day for the taking of any action
                                         or the expiration of any right required or granted herein shall not be a Business Day,
                                         then such action may be taken or such right may be exercised on the next succeeding Business
                                         Day.</FONT></TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="font-size: 10pt; vertical-align: top">
<TD STYLE="font-size: 10pt; width: 0.25in"></TD><TD STYLE="font-size: 10pt; width: 0.25in"><FONT STYLE="font-size: 10pt">38.</FONT></TD><TD STYLE="font-size: 10pt; text-align: justify"><FONT STYLE="font-size: 10pt"><U>Construction</U>.
                                         The parties agree that each of them and/or their respective counsel have reviewed and
                                         had an opportunity to revise the Transaction Documents and, therefore, the normal rule
                                         of construction to the effect that any ambiguities are to be resolved against the drafting
                                         party shall not be employed in the interpretation of the Transaction Documents or any
                                         amendments thereto. In addition, each and every reference to share prices and ADSs and/or
                                         Ordinary Shares in any Transaction Document shall be subject to adjustment for reverse
                                         and forward stock splits, stock dividends, stock combinations and other similar transactions
                                         of the Ordinary Shares and/or ADSs that occur after the date of this Agreement.</FONT></TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="font-size: 10pt; vertical-align: top">
<TD STYLE="font-size: 10pt; width: 0.25in"></TD><TD STYLE="font-size: 10pt; width: 0.25in"><FONT STYLE="font-size: 10pt">39.</FONT></TD><TD STYLE="font-size: 10pt; text-align: justify"><FONT STYLE="font-size: 10pt"><B><U>WAIVER
                                         OF JURY TRIAL</U>. IN ANY ACTION, SUIT, OR PROCEEDING IN ANY JURISDICTION BROUGHT BY
                                         ANY PARTY AGAINST ANY OTHER PARTY, THE PARTIES EACH KNOWINGLY AND INTENTIONALLY, TO THE
                                         GREATEST EXTENT
PERMITTED BY APPLICABLE LAW, HEREBY ABSOLUTELY, UNCONDITIONALLY, IRREVOCABLY AND EXPRESSLY WAIVES FOREVER TRIAL BY JURY.</B></FONT></TD></TR></TABLE>

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-size: 10pt"><I>(Signature
Pages Follow)</I></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">&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-size: 10pt"></FONT></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; text-align: justify; text-indent: 0.5in"><FONT STYLE="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-size: 10pt">IN
WITNESS WHEREOF, the parties hereto have caused this Securities Purchase Agreement to be duly executed by their respective authorized
signatories as of the date first indicated above.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="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="font-size: 10pt; vertical-align: top">
    <TD COLSPAN="2" STYLE="font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; text-transform: uppercase"><B>ANCHIANO
    THERAPUTICS LTD.</B></FONT></TD>
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><U>Address for Notice:</U></FONT></TD></TR>
<TR STYLE="font-size: 10pt; vertical-align: top">
    <TD COLSPAN="2" STYLE="font-size: 10pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size: 10pt; vertical-align: top">
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">By:</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-bottom: 1.5pt; font-size: 10pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><U>Email</U>:</FONT></TD></TR>
<TR STYLE="font-size: 10pt; vertical-align: top">
    <TD STYLE="font-size: 10pt; width: 3%"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; width: 47%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Name:</FONT></TD>
    <TD STYLE="font-size: 10pt; width: 8%; text-align: center"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; width: 42%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><U>Fax:</U></FONT></TD></TR>
<TR STYLE="font-size: 10pt; vertical-align: top">
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Title:</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: center"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size: 10pt; vertical-align: top">
    <TD COLSPAN="2" STYLE="font-size: 10pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: center"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size: 10pt; vertical-align: top">
    <TD COLSPAN="2" STYLE="font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">With a copy to (which shall not
    constitute notice):</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: center"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="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-size: 10pt">[REMAINDER
OF PAGE INTENTIONALLY LEFT BLANK]</FONT></P>

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-size: 10pt">SIGNATURE
PAGE FOR PURCHASER FOLLOWS]</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-size: 10pt; text-transform: uppercase">[PURCHASER
SIGNATURE PAGES TO SECURITIES PURCHASE AGREEMENT]</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">IN
WITNESS WHEREOF, the undersigned have caused this Securities Purchase Agreement to be duly executed by their respective authorized
signatories as of the date first indicated above.</FONT></P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 16%; text-align: left">Name of Purchaser:</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; width: 69%; text-align: left">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 15%; text-align: left">&nbsp;</TD></TR>
</TABLE>


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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font: italic 10pt Times New Roman, Times, Serif; width: 35%; text-align: left">Signature of Authorized Signatory of Purchaser:</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: italic 10pt Times New Roman, Times, Serif; width: 50%; text-align: left">&nbsp;</TD>
    <TD STYLE="font: italic 10pt Times New Roman, Times, Serif; width: 15%; text-align: left">&nbsp;</TD></TR>
</TABLE>


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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 25%; text-align: left">Name of Authorized Signatory:</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; width: 60%; text-align: left">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 15%; text-align: left">&nbsp;</TD></TR>
</TABLE>


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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 25%; text-align: left">Title of Authorized Signatory:</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; width: 60%; text-align: left">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 15%; text-align: left">&nbsp;</TD></TR>
</TABLE>


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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 28%; text-align: left">Email Address of Authorized Signatory:</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; width: 57%; text-align: left">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 15%; text-align: left">&nbsp;</TD></TR>
</TABLE>


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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 28%; text-align: left">Facsimile Number of Authorized Signatory:</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; width: 57%; text-align: left">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 15%; text-align: left">&nbsp;</TD></TR>
</TABLE>


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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 25%; text-align: left">Address for Notice to Purchaser:</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; width: 60%; text-align: left">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 15%; text-align: left">&nbsp;</TD></TR>
</TABLE>


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

<P STYLE="text-align: left; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt">Address for Delivery of Securities to Purchaser (if not same as address for notice): &nbsp; &nbsp;</P>




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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">Subscription Amount: $_____________</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">ADS(s):________________</FONT></P>

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

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

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-size: 10pt">[SIGNATURE
PAGES CONTINUE]</FONT></P>

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

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

<!-- Field: Page; Sequence: 30 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="text-align: center; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->30<!-- Field: /Sequence --></P></DIV>
    <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: center">&nbsp;</P>




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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

<!-- Field: Page; Sequence: 31 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="text-align: center; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->31<!-- Field: /Sequence --></P></DIV>
    <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"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-size: 10pt; text-transform: uppercase"><B>DEFINITION
OF ACCREDITED INVESTOR</B></FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-size: 10pt">&ldquo;<U>Accredited
investor</U>&rdquo; means any person who comes within any of the following categories, or who the Company reasonably believes
comes within any of the following categories, at the time of the sale of the Shares to that person:</FONT></P>

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="font-size: 10pt; vertical-align: top">
    <TD STYLE="font-size: 10pt; width: 21px"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; width: 21px"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">1.</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Any bank as defined
    in section 3(a)(2) of the Act, or any savings and loan association or other institution as defined in section 3(a)(5)(A) of
    the Act whether acting in its individual or fiduciary capacity; any broker or dealer registered pursuant to section 15 of
    the Securities Exchange Act of 1934; any investment adviser registered pursuant to section 203 of the Investment Advisers
    Act of 1940 or registered pursuant to the laws of a state; any investment adviser relying on the exemption from registering
    with the Commission under section 203(l) or (m) of the Investment Advisers Act of 1940; any insurance company as defined in
    section 2(a)(13) of the Act; any investment company registered under the Investment Company Act of 1940 or a business development
    company as defined in section 2(a)(48) of that act; any Small Business Investment Company licensed by the U.S. Small Business
    Administration under section 301(c) or (d) of the Small Business Investment Act of 1958; any Rural Business Investment Company
    as defined in section 384A of the Consolidated Farm and Rural Development Act; any plan established and maintained by a state,
    its political subdivisions, or any agency or instrumentality of a state or its political subdivisions, for the benefit of
    its employees, if such plan has total assets in excess of $5,000,000; any employee benefit plan within the meaning of the
    Employee Retirement Income Security Act of 1974 if the investment decision is made by a plan fiduciary, as defined in section
    3(21) of such act, which is either a bank, savings and loan association, insurance company, or registered investment adviser,
    or if the employee benefit plan has total assets in excess of $5,000,000 or, if a self-directed plan, with investment decisions
    made solely by persons that are accredited investors;</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="font-size: 10pt; vertical-align: top">
    <TD STYLE="font-size: 10pt; width: 21px"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; width: 21px"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">2.</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Any private business
    development company as defined in Section 202(a)(22) of the Investment Advisers Act of 1940;</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="font-size: 10pt; vertical-align: top">
    <TD STYLE="font-size: 10pt; width: 21px"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; width: 21px"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">3.</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Any organization
    described in Section 501(c)(3) of the Internal Revenue Code, corporation, Massachusetts or similar business trust, or partnership,
    not formed for the specific purpose of acquiring the Shares offered, with total assets in excess of $5,000,000;</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="font-size: 10pt; vertical-align: top">
    <TD STYLE="font-size: 10pt; width: 21px"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; width: 21px"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">4.</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Any director, executive
    officer, or general partner of the issuer of the Company, or any director or executive officer of the Company;</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="font-size: 10pt; vertical-align: top">
    <TD STYLE="font-size: 10pt; width: 21px"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; width: 21px"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">5.</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Any natural person
    whose individual net worth, or joint net worth with that person&rsquo;s spouse, at the time of his purchase exceeds $1,000,000,&nbsp;<I>provided
    that</I>&nbsp;for purposes of this item 5, &ldquo;net worth&rdquo; means the excess of total assets at fair market value (including
    personal and real property,&nbsp;<I>but excluding the value of a person&rsquo;s primary home</I>) over total liabilities (excluding
    any mortgage on the primary home in an amount of up to the home&rsquo;s fair market value, but including any mortgage amount
    in excess of the home&rsquo;s fair market value);</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="font-size: 10pt; vertical-align: top">
    <TD STYLE="font-size: 10pt; width: 21px"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; width: 21px"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">6.</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Any natural person
    who had an individual income in excess of $200,000 in each of the two most recent years or joint income with that person&rsquo;s
    spouse in excess of $300,000 in each of those years and has a reasonable expectation of reaching the same income level in
    the current year,&nbsp;<I>provided that</I>&nbsp;for purposes of this item 6, &ldquo;income&rdquo; means annual adjusted gross
    income, as reported for federal income tax purposes, plus (a) the amount of any tax-exempt interest income received; (b) the
    amount of losses claimed as a limited partner in a limited partnership; (c) any deduction claimed for depletion; (d) amounts
    contributed to an IRA or Keogh retirement plan; (e) alimony paid; and (f) any amount by which income from long-term capital
    gains has been reduced in arriving at adjusted gross income pursuant to the provisions of Section 1202 of the Internal Revenue
    Code of 1986, as amended;</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="font-size: 10pt; vertical-align: top">
    <TD STYLE="font-size: 10pt; width: 21px"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; width: 21px"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">7.</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Any trust, with
    total assets in excess of $5,000,000, not formed for the specific purpose of acquiring the Shares offered, whose purchase
    is directed by a sophisticated person as described in Rule 506(b)(2)(ii);</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="font-size: 10pt; vertical-align: top">
    <TD STYLE="font-size: 10pt; width: 21px"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; width: 21px"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">8.</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Any entity in which
    all of the equity owners are accredited investors;</FONT></TD></TR>
</TABLE>

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

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

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<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="font-size: 10pt; vertical-align: top">
    <TD STYLE="font-size: 10pt; width: 21px"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; width: 21px"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">9.</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Any entity, of a
    type not listed in paragraphs (1), (2), (3), (7), or (8), not formed for the specific purpose of acquiring the securities
    offered, owning investments in excess of $5,000,000</FONT></TD></TR>
<TR STYLE="font-size: 10pt; vertical-align: top">
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: justify"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size: 10pt; vertical-align: top">
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">10.</FONT></TD>
    <TD STYLE="font-size: 10pt"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-size: 10pt">Any
        natural person holding in good standing one or more professional certifications or designations or credentials from an
        accredited educational institution that the Commission has designated as qualifying an individual for accredited investor
        status. In determining whether to designate a professional certification or designation or credential from an accredited
        educational institution for purposes of this paragraph (a)(10), the Commission will consider, among others, the following
        attributes: (i) The certification, designation, or credential arises out of an examination or series of examinations administered
        by a self-regulatory organization or other industry body or is issued by an accredited educational institution; (ii) The
        examination or series of examinations is designed to reliably and validly demonstrate an individual's comprehension and
        sophistication in the areas of securities and investing; (iii) Persons obtaining such certification, designation, or credential
        can reasonably be expected to have sufficient knowledge and experience in financial and business matters to evaluate the
        merits and risks of a prospective investment; and (iv) An indication that an individual holds the certification or designation
        is either made publicly available by the relevant self-regulatory organization or other industry body or is otherwise
        independently verifiable;</FONT></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P></TD></TR>
<TR STYLE="font-size: 10pt; vertical-align: top">
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: justify"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size: 10pt; vertical-align: top">
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">11.</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Any natural person
    who is a &ldquo;knowledgeable employee,&rdquo; as defined in rule 3c-5(a)(4) under the Investment Company Act of 1940 (17
    CFR 270.3c-5(a)(4)), of the issuer of the securities being offered or sold where the issuer would be an investment company,
    as defined in section 3 of such act, but for the exclusion provided by either section 3(c)(1) or section 3(c)(7) of such act;</FONT></TD></TR>
<TR STYLE="font-size: 10pt; vertical-align: top">
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: justify"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size: 10pt; vertical-align: top">
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">12.</FONT></TD>
    <TD STYLE="font-size: 10pt"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-size: 10pt">Any
        &ldquo;family office,&rdquo; as defined in rule 202(a)(11)(G)-1 under the Investment Advisers Act of 1940 (17 CFR 275.202(a)(11)(G)-1):
        (i) with assets under management in excess of $5,000,000, (ii) that is not formed for the specific purpose of acquiring
        the securities offered, and (iii) whose prospective investment is directed by a person who has such knowledge and experience
        in financial and business matters that such family office is capable of evaluating the merits and risks of the prospective
        investment; and</FONT></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P></TD></TR>
<TR STYLE="font-size: 10pt; vertical-align: top">
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">13.</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Any &ldquo;family
    client,&rdquo; as defined in rule 202(a)(11)(G)-1 under the Investment Advisers Act of 1940 (17 CFR 275.202(a)(11)(G)-1)),
    of a family office meeting the requirements in paragraph (a)(12) of this section and whose prospective investment in the issuer
    is directed by such family office pursuant to paragraph (a)(12)(iii).</FONT></TD></TR>
</TABLE>
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<DOCUMENT>
<TYPE>EX-10.2
<SEQUENCE>4
<FILENAME>tm219877d1_ex10-2.htm
<DESCRIPTION>EXHIBIT 10.2
<TEXT>
<HTML>
<HEAD>
<TITLE></TITLE>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><B>Exhibit 10.2</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">NEITHER THIS SECURITY NOR THE SECURITIES
FOR WHICH THIS SECURITY IS EXERCISABLE HAVE BEEN REGISTERED WITH THE SECURITIES AND EXCHANGE COMMISSION OR THE SECURITIES COMMISSION
OF ANY STATE IN RELIANCE UPON AN EXEMPTION FROM REGISTRATION UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE &ldquo;SECURITIES
ACT&rdquo;), AND, ACCORDINGLY, MAY NOT BE OFFERED OR SOLD EXCEPT PURSUANT TO AN EFFECTIVE REGISTRATION STATEMENT UNDER THE SECURITIES
ACT OR PURSUANT TO AN AVAILABLE EXEMPTION FROM, OR IN A TRANSACTION NOT SUBJECT TO, THE REGISTRATION REQUIREMENTS OF THE SECURITIES
ACT AND IN ACCORDANCE WITH APPLICABLE STATE SECURITIES LAWS. THIS SECURITY AND THE SECURITIES ISSUABLE UPON EXERCISE OF THIS SECURITY
MAY BE PLEDGED IN CONNECTION WITH A BONA FIDE MARGIN ACCOUNT OR OTHER LOAN SECURED BY SUCH SECURITIES.</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>AMERICAN DEPOSITARY SHARES PURCHASE WARRANT</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"><FONT STYLE="text-transform: uppercase"><B>ANCHIANO
THERAPEUTICS LTD.</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="text-transform: uppercase"><B>&nbsp;</B></FONT></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: 71%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Warrant ADSs: _________</FONT></TD>
    <TD STYLE="width: 29%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Issue Date: March __, 2021</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&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">Initial Exercise Date: March __, 2021</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="text-transform: uppercase">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">THIS AMERICAN DEPOSITARY
SHARES PURCHASE WARRANT (the &ldquo;<U>Warrant</U>&rdquo;) certifies that, for value received, ____________ or its assigns (the
 &ldquo;<U>Holder</U>&rdquo;) is entitled, upon the terms and subject to the limitations on exercise and the conditions hereinafter
set forth, at any time on or after [___], 2021 (the &ldquo;<U>Initial Exercise Date</U>&rdquo;) and on or prior to 5:00 p.m. (New
York City time) on [___], 2026 (the &ldquo;<U>Termination Date</U>&rdquo;), but not thereafter, to subscribe for and purchase
from Anchiano Therapeutics Ltd., an Israeli public company incorporated under the laws of Israel (the &ldquo;<U>Company</U>&rdquo;),
up to ______ American Depositary Shares (&ldquo;<U>ADSs</U>&rdquo;), each ADS representing five (5) ordinary shares, no par value,
of the Company (the &ldquo;<U>Ordinary Shares</U>&rdquo;) (as subject to adjustment hereunder, the &ldquo;<U>Warrant Shares</U>&rdquo;)
(the ADSs issuable hereunder, the &ldquo;<U>Warrant ADSs</U>&rdquo;). The purchase price of one ADS under this Warrant shall be
equal to the Exercise Price, as defined in Section 2(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"><U>Section 1</U>.&nbsp;<U>Definitions</U>.
Capitalized terms used and not otherwise defined herein shall have the meanings set forth in that certain Securities Purchase
Agreement (the &ldquo;<U>Purchase Agreement</U>&rdquo;), dated March [__], 2021, among the Company and the purchasers signatory
thereto.</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"><U>Section 2</U>.&nbsp;<U>Exercise</U>.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">a)&nbsp;<U>Exercise
of Warrant</U>. Exercise of the purchase rights represented by this Warrant may be made, in whole or in part, at any time or times
on or after the Initial Exercise Date and on or before the Termination Date by delivery to the Company and the Depositary of a
duly executed facsimile copy or PDF copy submitted by e-mail (or e-mail attachment) of the Notice of Exercise in the form annexed
hereto (the &ldquo;<U>Notice of Exercise</U>&rdquo;). Within the earlier of (i) two (2) Trading Days and (ii) the number of Trading
Days comprising the Standard Settlement Period (as defined in Section 2(c)(i) herein) following the date of exercise as aforesaid,
the Holder shall deliver the aggregate Exercise Price for the ADSs specified in the applicable Notice of Exercise by wire transfer
or cashier&rsquo;s check drawn on a United States bank. No ink-original Notice of Exercise shall be required, nor shall any medallion
guarantee (or other type of guarantee or notarization) of any Notice of Exercise be required. Notwithstanding anything herein
to the contrary, the Holder shall not be required to physically surrender this Warrant to the Company until the Holder has purchased
all of the Warrant ADSs available hereunder and the Warrant has been exercised in full, in which case, the Holder shall surrender
this Warrant to the Company for cancellation within three (3) Trading Days of the date on which the final Notice of Exercise is
delivered to the Company. Partial exercises of this Warrant resulting in purchases of a portion of the total number of Warrant
ADSs available hereunder shall have the effect of lowering the outstanding number of Warrant ADSs purchasable hereunder in an
amount equal to the applicable number of Warrant ADSs purchased. The Holder and the Company shall maintain records showing the
number of Warrant ADSs purchased and the date of such purchases. The Company shall deliver any objection to any Notice of Exercise
within one (1) Business Day of receipt of such notice.&nbsp;<B>The Holder and any assignee, by acceptance of this Warrant, acknowledge
and agree that, by reason of the provisions of this paragraph, following the exercise of a portion of the Warrant ADSs hereunder,
the number of Warrant ADSs available for exercise hereunder at any given time may be less than the amount stated on the face hereof.</B></P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">b)&nbsp;<U>Exercise
Price</U>. The exercise price per ADS under this Warrant shall be&nbsp;$1.08443, subject to adjustment hereunder (the &ldquo;<U>Exercise
Price</U>&rdquo;).</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 153pt; text-align: justify; text-indent: -81pt">c)&nbsp;<U>Mechanics
of Exercise</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 117pt; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 117pt; text-align: justify; text-indent: 0.5in">i.&nbsp;<U>Delivery
of Warrant ADSs Upon Exercise</U>. The Company shall cause its registrar to deposit the Warrant Shares subject to such exercise
with Depositary, and cause the Depositary to credit the Warrant ADSs to the account of the Holder&rsquo;s or its designee&rsquo;s
balance account with The Depository Trust Company (or another established clearing corporation performing similar functions) through
its Deposit or Withdrawal at Custodian system (&ldquo;<U>DWAC</U>&rdquo;) if the Depositary is then a participant in such system
and either (A) there is an effective registration statement permitting the issuance of the Warrant ADSs to or resale of the Warrant
ADSs by the Holder or (B) the Warrant ADSs are eligible for resale by the Holder without volume or manner-of-sale limitations pursuant
to Rule 144, and otherwise by physical delivery of the Warrant Shares, registered in the Company&rsquo;s share register in the
name of the Holder or its designee, for the number of Warrant ADSs to which the Holder is entitled pursuant to such exercise to
the address specified by the Holder in the Notice of Exercise by the date that is the earlier of (i) two (2) Trading Days and (ii)
the number of Trading Days comprising the Standard Settlement Period after the delivery to the Company of the Notice of Exercise
(such date, the &ldquo;<U>Warrant ADS Delivery Date</U>&rdquo;) provided that the Warrant ADS Delivery Date shall not be deemed
to have occurred until such time that the Company has received the aggregate Exercise Price. Upon delivery of the Notice of Exercise
and the Exercise Price, the Holder shall be deemed for all corporate purposes to have become the holder of record of the Warrant
ADSs with respect to which this Warrant has been exercised, irrespective of the date of delivery of the Warrant ADSs. Notwithstanding
anything herein to the contrary, upon delivery of the Notice of Exercise the Holder shall be deemed for purposes of Regulation
SHO under the Exchange Act to have become the holder of the Warrant ADSs irrespective of the date of delivery of the Warrant ADSs.
If the Company fails for any reason to deliver to the Holder the Warrant ADSs subject to a Notice of Exercise by the Warrant ADS
Delivery Date, the Company shall pay to the Holder, in cash, as liquidated damages and not as a penalty, for each $1,000 of Warrant
ADSs subject to such exercise (based on the VWAP of the ADS on the date of the applicable Notice of Exercise), $10 per Trading
Day (increasing to $20 per Trading Day on the fifth Trading Day after such liquidated damages begin to accrue) for each Trading
Day after such Warrant ADS Delivery Date until such Warrant ADSs are delivered or Holder rescinds such exercise. The Company agrees
to maintain a registrar (which can be the depositary) that is a participant in the FAST program so long as this Warrant remains
outstanding and exercisable. &ldquo;<U>Standard Settlement Period</U>&rdquo; means the standard settlement period, expressed in
a number of Trading Days, on the Company&rsquo;s primary Trading Market with respect to the ADSs as in effect on the date of delivery
of the Notice of Exercise.</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 117pt; text-align: justify">&ldquo;VWAP&rdquo; means,
for any date, the price determined by the first of the following clauses that applies: (a) if the ADS is then listed or
quoted on a Trading Market, the daily volume weighted average price of the ADS for such date (or the nearest preceding date)
on the Trading Market on which the ADS is then listed or quoted as reported by Bloomberg L.P. (based on a Trading Day from
9:30 a.m. (New York City time) to 4:02 p.m. (New York City time)), (b) if OTCQB or OTCQX is not a Trading Market, the volume
weighted average price of the ADS for such date (or the nearest preceding date) on OTCQB or OTCQX as applicable, (c) if the
ADS is not then listed or quoted for trading on OTCQB or OTCQX and if prices for the ADS are then reported in The Pink Open
Market (or a similar organization or agency succeeding to its functions of reporting prices), the most recent bid price per
ADS so reported, or (d) in all other cases, the fair market value of an ADS as determined by an independent appraiser
selected in good faith by the Purchasers of a majority in interest of the Securities then outstanding and reasonably
acceptable to the Company, the fees and expenses of which shall be paid by the Company.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 117pt; text-align: justify; text-indent: 31.5pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 117pt; text-align: justify; text-indent: 31.5pt">ii.&nbsp;<U>Delivery
of New Warrants Upon Exercise</U>. If this Warrant shall have been exercised in part, the Company shall, at the request of a Holder
and upon surrender of this Warrant, at the time of delivery of the Warrant ADSs, deliver to the Holder a new Warrant evidencing
the rights of the Holder to exercise the unexercised Warrant ADSs called for by this Warrant, which new Warrant shall in all other
respects be identical with this Warrant.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 117pt; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 117pt; text-align: justify; text-indent: 0.5in">iii.&nbsp;<U>Rescission
Rights</U>. If the Company fails to cause the Depositary to transmit to the Holder the Warrant ADSs pursuant to Section 2(c)(i)
by the Warrant ADS Delivery Date, then the Holder will have the right to rescind such exercise;&nbsp;<U>provided</U>,&nbsp;<U>however</U>,
that the Holder shall be required to return any Warrant ADSs or Ordinary Shares subject to any such rescinded exercise notice concurrently
with the return to Holder of the aggregate Exercise Price paid to the Company for such Warrant ADSs and the restoration of Holder&rsquo;s
right to acquire such Warrant ADSs pursuant to this Warrant (including, issuance of a replacement warrant certificate evidencing
such restored right).</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 117pt; text-align: justify; text-indent: 0.5in">iv.&nbsp;<U>Compensation
for Buy-In on Failure to Timely Deliver Warrant ADSs Upon Exercise</U>. In addition to any other rights available to the Holder,
if the Company fails to cause the Depositary to transmit to the Holder the Warrant ADSs in accordance with the provisions of Section
2(c)(i) above pursuant to an exercise on or before the Warrant ADS Delivery Date, and if after such date the Holder is required
by its broker to purchase (in an open market transaction or otherwise) or the Holder&rsquo;s brokerage firm otherwise purchases,
ADSs to deliver in satisfaction of a sale by the Holder of the Warrant ADSs which the Holder anticipated receiving upon such exercise
(a &ldquo;<U>Buy-In</U>&rdquo;), then the Company shall (A) pay in cash to the Holder the amount, if any, by which (x) the Holder&rsquo;s
total purchase price (including brokerage commissions, if any) for the ADSs so purchased exceeds (y) the amount obtained by multiplying
(1) the number of Warrant ADSs that the Company was required to deliver to the Holder in connection with the exercise at issue
times (2) the price at which the sell order giving rise to such purchase obligation was executed, and (B) at the option of the
Holder, either reinstate the portion of the Warrant and equivalent number of Warrant ADSs for which such exercise was not honored
(in which case such exercise shall be deemed rescinded) or deliver to the Holder the number of ADSs that would have been issued
had the Company timely complied with its exercise and delivery obligations hereunder. For example, if the Holder purchases ADSs
having a total purchase price of $11,000 to cover a Buy-In with respect to an attempted exercise of Warrants with an aggregate
sale price giving rise to such purchase obligation of $10,000, under clause (A) of the immediately preceding sentence the Company
shall be required to pay the Holder $1,000. The Holder shall provide the Company written notice indicating the amounts payable
to the Holder in respect of the Buy-In and, upon request of the Company, evidence of the amount of such loss. Nothing herein shall
limit a Holder&rsquo;s right to pursue any other remedies available to it hereunder, at law or in equity including, without limitation,
a decree of specific performance and/or injunctive relief with respect to the Company&rsquo;s failure to timely deliver ADSs upon
exercise of the Warrant as required pursuant to the terms hereof. Notwithstanding anything contained herein to the contrary, the
Buy-In Amount shall not exceed $100,000 in the aggregate.</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 117pt; text-align: justify; text-indent: 0.5in">v.&nbsp;<U>No
Fractional ADSs or Scrip</U>. No fractional ADSs or scrip representing fractional ADSs shall be issued upon the exercise of this
Warrant.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 117pt; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 117pt; text-align: justify; text-indent: 0.5in">vi.&nbsp;<U>Charges,
Taxes and Expenses</U>. Issuance of Warrant ADSs shall be made without charge to the Holder for any issue or transfer tax or other
incidental expense in respect of the issuance of such Warrant ADSs, all of which taxes and expenses shall be paid by the Company,
and such Warrant ADSs shall be issued in the name of the Holder or in such name or names as may be directed by the Holder;&nbsp;<U>provided</U>,&nbsp;<U>however</U>,
that in the event that Warrant ADSs are to be issued in a name other than the name of the Holder, this Warrant when surrendered
for exercise shall be accompanied by the Assignment Form attached hereto as Exhibit A duly executed by the Holder and the Company
may require, as a condition thereto, the payment of a sum sufficient to reimburse it for any transfer tax incidental thereto. The
Company shall pay all Depositary fees required for same-day processing of any Notice of Exercise and all fees to the Depository
Trust Company (or another established clearing corporation performing similar functions) required for same-day electronic delivery
of the Warrant ADSs.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 117pt; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 117pt; text-align: justify; text-indent: 0.5in">vii.&nbsp;<U>Closing
of Books</U>. The Company will not close its stockholder books or records in any manner which prevents the timely exercise of this
Warrant, pursuant to the terms hereof.</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)&nbsp;<U>Holder&rsquo;s
Exercise Limitations</U>. The Company shall not effect any exercise of this Warrant, and a Holder shall not have the right to
exercise any portion of this Warrant, pursuant to Section 2 or otherwise, to the extent that after giving effect to such
issuance after exercise as set forth on the applicable Notice of Exercise, the Holder (together with the Holder&rsquo;s
Affiliates, and any other Persons acting as a group together with the Holder or any of the Holder&rsquo;s Affiliates (such
Persons, &ldquo;Attribution Parties&rdquo;)), would beneficially own in excess of the Beneficial Ownership Limitation (as
defined below).&nbsp; For purposes of the foregoing sentence, the number of Ordinary Shares beneficially owned by the Holder
and its Affiliates and Attribution Parties shall include the number of Ordinary Shares held by the Holder and its Attribution
Parties plus the number of Ordinary Shares underlying such Warrant ADSs issuable upon exercise of this Warrant with respect
to which such determination is being made, but shall exclude the number of Ordinary Shares underlying Warrant ADSs which
would be issuable upon (i) exercise of the remaining, nonexercised portion of this Warrant beneficially owned by the Holder
or any of its Affiliates or Attribution Parties and (ii) exercise or conversion of the unexercised or nonconverted portion of
any other securities of the Company (including, without limitation, any other Ordinary Share Equivalents) subject to a
limitation on conversion or exercise analogous to the limitation contained herein beneficially owned by the Holder or any of
its Affiliates or Attribution Parties.&nbsp; Except as set forth in the preceding sentence, for purposes of this Section
2(d), beneficial ownership shall be calculated in accordance with Section 13(d) of the Exchange Act and the rules and
regulations promulgated thereunder, it being acknowledged by the Holder that the Company is not representing to the Holder
that such calculation is in compliance with Section 13(d) of the Exchange Act and the Holder is solely responsible for any
schedules required to be filed in accordance therewith. To the extent that the limitation contained in this Section 2(d)
applies, the determination of whether this Warrant is exercisable (in relation to other securities owned by the Holder
together with any Affiliates and Attribution Parties) and of which portion of this Warrant is exercisable shall be in the
sole discretion of the Holder, and the submission of a Notice of Exercise shall be deemed to be the Holder&rsquo;s
determination of whether this Warrant is exercisable (in relation to other securities owned by the Holder together with any
Affiliates and Attribution Parties) and of which portion of this Warrant is exercisable, in each case subject to the
Beneficial Ownership Limitation, and the Company shall have no obligation to verify or confirm the accuracy of such
determination. In addition, a determination as to any group status as contemplated above shall be determined in accordance
with Section 13(d) of the Exchange Act and the rules and regulations promulgated thereunder. For purposes of this Section
2(d), in determining the number of outstanding Ordinary Shares, a Holder may rely on the number of outstanding Ordinary
Shares as reflected in (A) the Company&rsquo;s most recent periodic or annual report filed with the Commission, as the case
may be, (B) a more recent public announcement by the Company or (C) a more recent written notice by the Company or the
Depositary setting forth the number of Ordinary Shares outstanding.&nbsp; Upon the written or oral request of a Holder, the
Company shall within one Trading Day confirm orally and in writing to the Holder the number of Ordinary Shares then
outstanding.&nbsp; In any case, the number of outstanding Ordinary Shares shall be determined after giving effect to the
conversion or exercise of securities of the Company, including this Warrant, by the Holder or its Affiliates or Attribution
Parties since the date as of which such number of outstanding Ordinary Shares was reported. The &ldquo;Beneficial Ownership
Limitation&rdquo; shall be [4.99/9.99%] of the number of Ordinary Shares outstanding immediately after giving effect to the
issuance of Ordinary Shares underlying the Warrant ADSs issuable upon exercise of this Warrant. The Holder, upon notice to
the Company, may increase or decrease the Beneficial Ownership Limitation provisions of this Section 2(d), provided that the
Beneficial Ownership Limitation in no event exceeds 9.99% of the number of Ordinary Shares outstanding immediately after
giving effect to the issuance of Ordinary Shares upon exercise of this Warrant held by the Holder and the provisions of this
Section 2(d) shall continue to apply. Any increase in the Beneficial Ownership Limitation will not be effective until the
61st day after such notice is delivered to the Company. The provisions of this paragraph shall be construed and implemented
in a manner otherwise than in strict conformity with the terms of this Section 2(d) to correct this paragraph (or any portion
hereof) which may be defective or inconsistent with the intended Beneficial Ownership Limitation herein contained or to make
changes or supplements necessary or desirable to properly give effect to such limitation. The limitations contained in this
paragraph shall apply to a successor holder of this Warrant.</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"><U>Section 3</U>.&nbsp;<U>Certain
Adjustments</U>.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">a)&nbsp;<U>Share
Dividends and Splits</U>. If the Company, at any time while this Warrant is outstanding: (i) pays a share dividend or otherwise
makes a distribution or distributions on its Ordinary Shares or ADSs or any other equity or equity equivalent securities payable
in Ordinary Shares or ADSs (which, for avoidance of doubt, shall not include any ADSs issued by the Company upon exercise of this
Warrant), as applicable, (ii) subdivides outstanding Ordinary Shares or ADSs into a larger number of shares or ADSs, as applicable,
(iii) combines (including by way of reverse share split) outstanding Ordinary Shares or ADSs into a smaller number of shares or
ADSs, as applicable, or (iv) issues by reclassification of Ordinary Shares, ADSs or any shares of capital stock of the Company,
as applicable, then in each case the Exercise Price shall be multiplied by a fraction of which the numerator shall be the number
of ADSs (excluding treasury shares, if any) outstanding immediately before such event and of which the denominator shall be the
number of ADSs outstanding immediately after such event, and the number of shares issuable upon exercise of this Warrant shall
be proportionately adjusted such that the aggregate Exercise Price of this Warrant shall remain unchanged. Any adjustment made
pursuant to this Section 3(a) shall become effective immediately after the record date for the determination of shareholders entitled
to receive such dividend or distribution and shall become effective immediately after the effective date in the case of a subdivision,
combination or re-classification. For the purposes of clarification, the Exercise Price of this Warrant will not be adjusted in
the event that the Company or any Subsidiary thereof, as applicable, sells or grants any option to purchase, or sell or grant any
right to reprice, or otherwise dispose of or issue (or announce any offer, sale, grant or any option to purchase or other disposition)
any Ordinary Shares or Ordinary Share Equivalents, at an effective price per share less than the Exercise Price then in effect.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">b)&nbsp;<U>Subsequent
Rights Offerings</U>. In addition to any adjustments pursuant to Section 3(a) above, if at any time the Company grants, issues
or sells any Ordinary Share Equivalents or rights to purchase shares, warrants, securities or other property pro rata to the record
holders of any class of Ordinary Shares or ADSs (the &ldquo;<U>Purchase Rights</U>&rdquo;), then the Holder will be entitled to
acquire, upon the terms applicable to such Purchase Rights, the aggregate Purchase Rights which the Holder could have acquired
if the Holder had held the number of Ordinary Shares or ADSs acquirable upon complete exercise of this Warrant (without regard
to any limitations on exercise hereof, including without limitation, the Beneficial Ownership Limitation) immediately before the
date on which a record is taken for the grant, issuance or sale of such Purchase Rights, or, if no such record is taken, the date
as of which the record holders of Ordinary Shares or ADSs, as applicable, are to be determined for the grant, issue or sale of
such Purchase Rights (provided, however, to the extent that the Holder&rsquo;s right to participate in any such Purchase Right
would result in the Holder exceeding the Beneficial Ownership Limitation, then the Holder shall not be entitled to participate
in such Purchase Right to such extent (or beneficial ownership of such Ordinary Shares or ADSs as a result of such Purchase Right
to such extent) and such Purchase Right to such extent shall be held in abeyance for the Holder until such time, if ever, as its
right thereto would not result in the Holder exceeding the Beneficial Ownership Limitation).</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">c)&nbsp;<U>Pro
Rata Distributions</U>. During such time as this Warrant is outstanding, if the Company shall declare or make any dividend or
other distribution of its assets (or rights to acquire its assets) to holders of Ordinary Shares or ADSs, by way of return of
capital or otherwise (including, without limitation, any distribution of cash, shares or other securities, property or
options by way of a dividend, spin off, reclassification, corporate rearrangement, scheme of arrangement or other similar
transaction) (a &ldquo;Distribution&rdquo;), at any time after the issuance of this Warrant, then, in each such case, the
Holder shall be entitled to participate in such Distribution to the same extent that the Holder would have participated
therein if the Holder had held the number of Ordinary Shares or ADSs acquirable upon complete exercise of this Warrant
(without regard to any limitations on exercise hereof, including without limitation, the Beneficial Ownership Limitation)
immediately before the date of which a record is taken for such Distribution, or, if no such record is taken, the date as of
which the record holders of Ordinary Shares or ADSs, as applicable, are to be determined for the participation in such
Distribution (provided, however, to the extent that the Holder's right to participate in any such Distribution would result
in the Holder exceeding the Beneficial Ownership Limitation, then the Holder shall not be entitled to participate in such
Distribution to such extent (or in the beneficial ownership of any Ordinary Shares or ADSs as a result of such Distribution
to such extent) and the portion of such Distribution shall be held in abeyance for the benefit of the Holder until such time,
if ever, as its right thereto would not result in the Holder exceeding the Beneficial Ownership Limitation).</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">d)&nbsp;<U>Fundamental
Transactions</U>. If, at any time while this Warrant is outstanding, (i) the Company, directly or indirectly, in one or more
related transactions effects any merger or consolidation of the Company with or into another Person, (ii) the Company (and
all of its Subsidiaries, taken as a whole), directly or indirectly, effects any sale, lease, license, assignment, transfer,
conveyance or other disposition of all or substantially all of its assets in one or a series of related transactions, (iii)
any, direct or indirect, purchase offer, tender offer or exchange offer (whether by the Company or another Person) is
completed pursuant to which holders of ADSs are permitted to sell, tender or exchange their shares for other securities, cash
or property and has been accepted by the holders of 50% or more of the outstanding ADSs, (iv) the Company, directly or
indirectly, in one or more related transactions effects any reclassification, reorganization or recapitalization of the ADSs
or any compulsory share exchange pursuant to which the ADSs is effectively converted into or exchanged for other securities,
cash or property, or (v) the Company, directly or indirectly, in one or more related transactions consummates a stock or
share purchase agreement or other business combination (including, without limitation, a reorganization, recapitalization,
spin-off, merger or scheme of arrangement) with another Person or group of Persons whereby such other Person or group
acquires more than 50% of the outstanding ADSs (not including any ADSs held by the other Person or other Persons making or
party to, or associated or affiliated with the other Persons making or party to, such stock or share purchase agreement or
other business combination) (each a &ldquo;<U>Fundamental Transaction</U>&rdquo;), then, upon any subsequent exercise of this
Warrant, the Holder shall have the right to receive, for each Warrant Share underlying the Warrant ADSs that would have been
issuable upon such exercise immediately prior to the occurrence of such Fundamental Transaction, at the option of the Holder
(without regard to any limitation in Section 2(d) on the exercise of this Warrant), the number of ADSs of the successor or
acquiring corporation or of the Company, if it is the surviving corporation, and any additional consideration (the
 &ldquo;<U>Alternate Consideration</U>&rdquo;) receivable as a result of such Fundamental Transaction by a holder of the
number of ADSs for which this Warrant is exercisable immediately prior to such Fundamental Transaction (without regard to any
limitation in Section 2(d) on the exercise of this Warrant). If holders of ADSs are given any choice as to the securities,
cash or property to be received in a Fundamental Transaction, then the Holder shall be given the same choice as to the
Alternate Consideration it receives upon any exercise of this Warrant following such Fundamental Transaction. The Company
shall cause any successor entity in a Fundamental Transaction in which the Company is not the survivor (the
 &ldquo;<U>Successor Entity</U>&rdquo;) to assume in writing all of the obligations of the Company under this Warrant and the
other Transaction Documents in accordance with the provisions of this Section 3(e) pursuant to written agreements in form and
substance reasonably satisfactory to the Holder and approved by the Holder (without unreasonable delay) prior to such
Fundamental Transaction and shall, at the option of the Holder, deliver to the Holder in exchange for this Warrant a security
of the Successor Entity evidenced by a written instrument substantially similar in form and substance to this Warrant which
is exercisable for a corresponding number of shares of capital stock of such Successor Entity (or its parent entity)
equivalent to the ADSs acquirable and receivable upon exercise of this Warrant (without regard to any limitations on the
exercise of this Warrant) prior to such Fundamental Transaction, and which required no additional consideration upon
exercise, and which is reasonably satisfactory in form and substance to the Holder. Upon the occurrence of any such
Fundamental Transaction, the Successor Entity shall succeed to, and be substituted for (so that from and after the date of
such Fundamental Transaction, the provisions of this Warrant and the other Transaction Documents referring to the
 &ldquo;Company&rdquo; shall refer instead to the Successor Entity), and may exercise every right and power of the Company and
shall assume all of the obligations of the Company under this Warrant and the other Transaction Documents with the same
effect as if such Successor Entity had been named as the Company herein.</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">e)&nbsp;<U>Change
in ADS Ratio</U>. If after the Issuance Date the ADS ratio is increased or reduced, then the number of Warrant ADSs to be provided
on exercise of a Warrant will be reduced or increased (respectively) in inverse proportion to the change in the ADS ratio Ordinary
Shares per ADS.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">f)&nbsp;<U>Calculations</U>.
All calculations under this Section 3 shall be made to the nearest cent or the nearest 1/100th of a share, as the case may be.
For purposes of this Section 3, the number of Ordinary Shares deemed to be issued and outstanding as of a given date shall be the
sum of the number of Ordinary Shares (excluding treasury shares, if any) issued and outstanding.</P>

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.5in; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.5in; text-align: justify; text-indent: 0.5in">i.&nbsp;<U>Adjustment</U>.
Whenever this Warrant is adjusted pursuant to any provision of this Section 3, the Company shall promptly notify, in writing, the
Holder of the adjusted terms of this Warrant after such adjustment and any resulting adjustment to the number of Warrant ADSs or
Warrant Shares and setting forth a brief statement of the facts requiring such adjustment.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.5in; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.5in; text-align: justify; text-indent: 0.5in">ii.&nbsp;<U>Notice
to Allow Exercise by Holder</U>. If (A) the Company shall declare a dividend (or any other distribution in whatever form) on the
Ordinary Shares, (B) the Company shall declare a special nonrecurring cash dividend on or a redemption of the Ordinary Shares,
(C) the Company shall authorize the granting to all holders of the Ordinary Shares rights or warrants to subscribe for or purchase
any shares of capital stock of any class or of any rights, (D) the approval of any stockholders of the Company shall be required
in connection with any reclassification of the Ordinary Shares, any consolidation or merger to which the Company is a party, any
sale or transfer of all or substantially all of the assets of the Company, or any compulsory share exchange whereby the Ordinary
Shares are converted into other securities, cash or property, or (E) the Company shall authorize the voluntary or involuntary dissolution,
liquidation or winding up of the affairs of the Company, then, in each case, the Company shall cause to be delivered by facsimile
or email to the Holder at its last facsimile number or email address as it shall appear upon the Warrant Register of the Company,
at least 20 calendar days prior to the applicable record or effective date hereinafter specified, a notice stating (x) the date
on which a record is to be taken for the purpose of such dividend, distribution, redemption, rights or warrants, or if a record
is not to be taken, the date as of which the holders of the Ordinary Shares of record to be entitled to such dividend, distributions,
redemption, rights or warrants are to be determined or (y) the date on which such reclassification, consolidation, merger, sale,
transfer or share exchange is expected to become effective or close, and the date as of which it is expected that holders of the
Ordinary Shares of record shall be entitled to exchange their Ordinary Shares for securities, cash or other property deliverable
upon such reclassification, consolidation, merger, sale, transfer or share exchange; provided that the failure to deliver such
notice or any defect therein or in the delivery thereof shall not affect the validity of the corporate action required to be specified
in such notice. To the extent that any notice provided in this Warrant constitutes, or contains, material, non-public information
regarding the Company or any of the Subsidiaries, the Company shall simultaneously file such notice with the Commission pursuant
to a Current Report on Form 6-K. The Holder shall remain entitled to exercise this Warrant during the period commencing on the
date of such notice to the effective date of the event triggering such notice except as may otherwise be expressly set forth herein.</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"><U>Section 4</U>.&nbsp;<U>Transfer
of Warrant</U>.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">a)&nbsp;<U>Transferability</U>.
Subject to compliance with any applicable securities laws and the conditions set forth in Section 4(d) hereof and to the provisions
of Section 4.1 of the Purchase Agreement, this Warrant and all rights hereunder (including, without limitation, any registration
rights) are transferable, in whole or in part, upon surrender of this Warrant at the principal office of the Company or its designated
agent, together with a written assignment of this Warrant substantially in the form attached hereto duly executed by the Holder
or its agent or attorney and funds sufficient to pay any transfer taxes payable upon the making of such transfer. Upon such surrender
and, if required, such payment, the Company shall execute and deliver a new Warrant or Warrants in the name of the assignee or
assignees, as applicable, and in the denomination or denominations specified in such instrument of assignment, and shall issue
to the assignor a new Warrant evidencing the portion of this Warrant not so assigned, and this Warrant shall promptly be cancelled.
Notwithstanding anything herein to the contrary, the Holder shall not be required to physically surrender this Warrant to the Company
unless the Holder has assigned this Warrant in full, in which case, the Holder shall surrender this Warrant to the Company within
three (3) Trading Days of the date on which the Holder delivers an assignment form to the Company assigning this Warrant in full.
The Warrant, if properly assigned in accordance herewith, may be exercised by a new holder for the purchase of Warrant ADSs without
having a new Warrant issued.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">b)&nbsp;<U>New
Warrants</U>. This Warrant may be divided or combined with other Warrants upon presentation hereof at the aforesaid office of the
Company, together with a written notice specifying the names and denominations in which new Warrants are to be issued, signed by
the Holder or its agent or attorney. Subject to compliance with Section 4(a), as to any transfer which may be involved in such
division or combination, the Company shall execute and deliver a new Warrant or Warrants in exchange for the Warrant or Warrants
to be divided or combined in accordance with such notice. All Warrants issued on transfers or exchanges shall be dated the original
Issue Date and shall be identical with this Warrant except as to the number of Warrant ADSs issuable pursuant thereto.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">c)&nbsp;<U>Warrant
Register</U>. The Company shall register this Warrant, upon records to be maintained by the Company for that purpose (the &ldquo;<U>Warrant
Register</U>&rdquo;), in the name of the record Holder hereof from time to time. The Company may deem and treat the registered
Holder of this Warrant as the absolute owner hereof for the purpose of any exercise hereof or any distribution to the Holder, and
for all other purposes, absent actual notice to the contrary.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">d)&nbsp;<U>Transfer
Restrictions</U>. If, at the time of the surrender of this Warrant in connection with any transfer of this Warrant, the transfer
of this Warrant shall not be either (i) registered pursuant to an effective registration statement under the Securities Act and
under applicable state securities or blue sky laws or (ii) eligible for resale without volume or manner-of-sale restrictions or
current public information requirements pursuant to Rule 144, the Company may require, as a condition of allowing such transfer,
that the Holder or transferee of this Warrant, as the case may be, comply with the provisions of Section 5.7 of the Purchase Agreement.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">e)&nbsp;<U>Representation
by the Holder</U>. The Holder, by the acceptance hereof, represents and warrants that it is acquiring this Warrant and, upon any
exercise hereof, will acquire the Warrant ADSs issuable upon such exercise, for its own account and not with a view to or for distributing
or reselling such Warrant ADSs or any part thereof in violation of the Securities Act or any applicable state securities law, except
pursuant to sales registered or exempted under the Securities Act.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><U>Section 5</U>.&nbsp;<U>Miscellaneous</U>.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">a)&nbsp;<U>Currency</U>.
Unless otherwise indicated, all dollar amounts referred to in this Warrant are in United States Dollars (&ldquo;<U>U.S. Dollars</U>&rdquo;).
All amounts owing under this Warrant shall be paid in U.S. Dollars. All amounts denominated in other currencies shall be converted
in the U.S. Dollar equivalent amount in accordance with the Exchange Rate on the date of calculation. &ldquo;<U>Exchange Rate</U>&rdquo;
means, in relation to any amount of currency to be converted into U.S. Dollars pursuant to this Warrant, the U.S. Dollar exchange
rate as published in the Wall Street Journal (NY edition) on the relevant date of calculation.</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">b)&nbsp;<U>No
Rights as Security Holder; No Exercise Settlement in Cash</U>. This Warrant does not entitle the Holder to any voting rights, dividends
or other rights as a security holder of the Company prior to the exercise hereof as set forth in Section 2(c)(i), except as expressly
set forth in Section 3. Without limiting any rights of a Holder to receive cash payments pursuant to Section 2(c)(i), Section 2(c)(iv)
and/or Section 3(d) herein, in no event shall the Company be required to net cash settle an exercise of this Warrant. In addition,
this Warrant may not be exercised in a cashless exercise.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">c)&nbsp;<U>Loss,
Theft, Destruction or Mutilation of Warrant</U>. The Company covenants that upon receipt by the Company of evidence reasonably
satisfactory to it of the loss, theft, destruction or mutilation of this Warrant or any stock certificate relating to the Warrant
ADSs, and in case of loss, theft or destruction, of indemnity or security reasonably satisfactory to it (which, in the case of
the Warrant, shall not include the posting of any bond), and upon surrender and cancellation of such Warrant or stock certificate,
if mutilated, the Company will make and deliver a new Warrant or stock certificate of like tenor and dated as of such cancellation,
in lieu of such Warrant or stock certificate.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">d)&nbsp;<U>Saturdays,
Sundays, Holidays, etc</U>. If the last or appointed day for the taking of any action or the expiration of any right required or
granted herein shall not be a Business Day, then, such action may be taken or such right may be exercised on the next succeeding
Business Day.</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 1in">The Company covenants
that, during the period the Warrant is outstanding, it will reserve from its authorized and unissued Ordinary Shares a sufficient
number of shares to provide for the issuance of the Warrant ADSs and the underlying Ordinary Shares upon the exercise of any rights
under this Warrant. The Company further covenants that its issuance of this Warrant shall constitute full authority to its officers
who are charged with the duty of issuing the necessary Warrant ADSs upon the exercise of the rights under this Warrant. The Company
will take all such reasonable action as may be necessary to assure that such Warrant ADSs and the underlying Ordinary Shares may
be issued as provided herein without violation of any applicable law or regulation, or of any requirements of the Trading Market
upon which the ADS or Ordinary Shares may be listed. The Company covenants that all Warrant ADSs and the underlying Ordinary Shares
which may be issued upon the exercise of the rights represented by this Warrant will, upon exercise of the rights represented by
this Warrant, be duly authorized, validly issued, fully paid and nonassessable and free from all taxes, liens and charges created
by the Company in respect of the issue thereof (other than taxes in respect of any transfer occurring contemporaneously with such
issue).</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0.5in">Except and
to the extent as waived or consented to by the Holder, the Company shall not by any action, including, without limitation, amending
its certificate of incorporation or through any reorganization, transfer of assets, consolidation, merger, dissolution, issue or
sale of securities or any other voluntary action, avoid or seek to avoid the observance or performance of any of the terms of this
Warrant, but will at all times in good faith assist in the carrying out of all such terms and in the taking of all such actions
as may be necessary or appropriate to protect the rights of Holder as set forth in this Warrant against impairment. Without limiting
the generality of the foregoing, the Company will (i) not increase the par value of any Warrant ADSs above the amount payable therefor
upon such exercise immediately prior to such increase in par value, (ii) take all such action as may be necessary or appropriate
in order that the Company may validly and legally issue fully paid and nonassessable Warrant ADSs and the underlying Ordinary Shares
upon the exercise of this Warrant and (iii) use commercially reasonable efforts to obtain all such authorizations, exemptions or
consents from any public regulatory body having jurisdiction thereof, as may be, necessary to enable the Company to perform its
obligations under this Warrant.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0.5in">Before taking
any action which would result in an adjustment in the number of Warrant ADSs for which this Warrant is exercisable, the Company
shall obtain all such authorizations or exemptions thereof, or consents thereto, as may be necessary from any public regulatory
body or bodies having jurisdiction thereof.</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">f)&nbsp;<U>Governing
Law</U>. All questions concerning the construction, validity, enforcement and interpretation of this Warrant shall be governed
by and construed and enforced in accordance with the internal laws of the State of New York, without regard to the principles of
conflicts of law thereof. Each party agrees that all legal proceedings concerning the interpretations, enforcement and defense
of the transactions contemplated by this Warrant (whether brought against a party hereto or their respective affiliates, directors,
officers, shareholders, partners, members, employees or agents) shall be commenced exclusively in the state and federal courts
sitting in the City of New York. Each party hereby irrevocably submits to the 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 herewith or
with any transaction contemplated hereby or discussed herein, 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 improper or is an inconvenient venue for such proceeding. 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 via registered
or certified mail or overnight delivery (with evidence of delivery) to such party at the address in effect for notices to it under
this Warrant 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 other manner permitted by law. If either party shall
commence an action, suit or proceeding to enforce any provisions of this Warrant, the prevailing party in such action, suit or
proceeding shall be reimbursed by the other party for their reasonable attorneys&rsquo; fees and other costs and expenses incurred
with the investigation, preparation and prosecution of such action or proceeding.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">g)&nbsp;<U>Restrictions</U>.
The Holder acknowledges that the Warrant ADSs and the underlying Ordinary Shares acquired upon the exercise of this Warrant, if
not registered, will have restrictions upon resale imposed by state and federal or foreign securities laws.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">h)&nbsp;<U>Nonwaiver
and Expenses</U>. No course of dealing or any delay or failure to exercise any right hereunder on the part of Holder shall operate
as a waiver of such right or otherwise prejudice the Holder&rsquo;s rights, powers or remedies. Without limiting any other provision
of this Warrant or the Purchase Agreement, if the Company willfully and knowingly fails to comply with any provision of this Warrant,
which results in any material damages to the Holder, the Company shall pay to the Holder such amounts as shall be sufficient to
cover any costs and expenses including, but not limited to, reasonable attorneys&rsquo; fees, including those of appellate proceedings,
incurred by the Holder in collecting any amounts due pursuant hereto or in otherwise enforcing any of its rights, powers or remedies
hereunder.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">i)&nbsp;<U>Notices</U>.
Any notice, request or other document required or permitted to be given or delivered to the Holder by the Company shall be delivered
in accordance with the notice provisions of the Purchase Agreement.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">j)&nbsp;<U>Limitation
of Liability</U>. No provision hereof, in the absence of any affirmative action by the Holder to exercise this Warrant to receive
Warrant ADSs, and no enumeration herein of the rights or privileges of the Holder, shall give rise to any liability of the Holder
for the purchase price of any ADS or as a stockholder of the Company, whether such liability is asserted by the Company or by creditors
of the Company.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">k)&nbsp;<U>Remedies</U>.
The Holder, in addition to being entitled to exercise all rights granted by law, including recovery of damages, will be entitled
to specific performance of its rights under this Warrant. The Company agrees that monetary damages would not be adequate compensation
for any loss incurred by reason of a breach by it of the provisions of this Warrant and hereby agrees to waive and not to assert
the defense in any action for specific performance that a remedy at law would be adequate.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">l)&nbsp;<U>Successors
and Assigns</U>. Subject to applicable securities laws, this Warrant and the rights and obligations evidenced hereby shall inure
to the benefit of and be binding upon the successors and permitted assigns of the Company and the successors and permitted assigns
of Holder. The provisions of this Warrant are intended to be for the benefit of any Holder from time to time of this Warrant and
shall be enforceable by the Holder or holder of Warrant ADSs.</P>

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">m)&nbsp;<U>Amendment</U>.
This Warrant may be modified or amended or the provisions hereof waived with the written consent of the Company and the Holder.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">n)&nbsp;<U>Severability</U>.
Wherever possible, each provision of this Warrant shall be interpreted in such manner as to be effective and valid under applicable
law, but if any provision of this Warrant shall be prohibited by or invalid under applicable law, such provision shall be ineffective
to the extent of such prohibition or invalidity, without invalidating the remainder of such provisions or the remaining provisions
of this Warrant.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">o)&nbsp;<U>Headings</U>.
The headings used in this Warrant are for the convenience of reference only and shall not, for any purpose, be deemed a part of
this Warrant.</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><I>(Signature Page Follows)</I></P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">IN WITNESS WHEREOF, the
Company has caused this Warrant to be executed by its officer thereunto duly authorized as of the date first above indicated.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&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; text-transform: uppercase"><B>Anchiano therapeutics LTD.</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 50%">&nbsp;</TD>
    <TD STYLE="width: 3%">&nbsp;</TD>
    <TD STYLE="width: 47%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">By:</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-bottom: 1.5pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Name:</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Title:</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

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

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

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

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 0px">&nbsp;</TD>
    <TD STYLE="width: 48px"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; text-transform: uppercase">TO:</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; text-transform: uppercase">anchiano therapeutics LTD.</FONT></TD></TR>
</TABLE>
<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: 1in">(1) The undersigned hereby
elects to purchase ________ Warrant ADSs of the Company pursuant to the terms of the attached Warrant (only if exercised in full),
and tenders herewith payment of the exercise price in full, together with all applicable transfer taxes, if any.</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">(2) Payment shall take
the form in lawful money of the United States.</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">(3) Please issue said
Warrant ADSs in the name of the undersigned or in such other name as is specified below:</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.5in; text-align: justify">_______________________________</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 Warrant ADSs shall be delivered to
the following DWAC Account Number:</P>

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

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

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.5in; text-align: justify">_______________________________</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">(4)&nbsp;<U>Accredited Investor/Non U.S.
Person</U>. The undersigned is either (i) an &ldquo;accredited investor&rdquo; as defined in Regulation D promulgated under the
Securities Act of 1933, as amended (the &ldquo;Securities Act&rdquo;), or (ii) a Non U.S. Person as defined under Regulation S
promulgated under the Securities Act. To the extent that the undersigned is a non U.S. Person, the undersigned (x) is not acquiring
the securities for the account or benefit of any U.S. Person, (y) is not in the United States and (z) is not a &ldquo;distributor&rdquo;
(as defined in Regulation S promulgated under the Securities Act).</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"><FONT STYLE="text-transform: uppercase">[SIGNATURE
OF HOLDER]</FONT></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">Name of Investing Entity: ________________________________________________________________________</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><I>Signature of Authorized Signatory of
Investing Entity</I>: __________________________________________________</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Name of Authorized Signatory: ____________________________________________________________________</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Title of Authorized Signatory: _____________________________________________________________________</P>

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

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

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 10.5pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 10.5pt"><I>(To assign the
foregoing Warrant, execute this form and supply required information. Do not use this form to exercise Warrant ADSs.)</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 10.5pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 10.5pt">FOR VALUE RECEIVED,
the foregoing Warrant and all rights evidenced thereby are hereby assigned to</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 10.5pt">&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: 49%; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Name:</FONT></TD>
    <TD STYLE="width: 2%; text-align: justify">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-bottom: 1.5pt; width: 49%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(Please Print)</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Address:</FONT></TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-bottom: 1.5pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(Please Print)</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Phone Number:</FONT></TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="padding-bottom: 1.5pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Email Address:</FONT></TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="padding-bottom: 1.5pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Dated: _______________ __, ______</FONT></TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Holder&rsquo;s Signature: __________________________</FONT></TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Holder&rsquo;s Address: ___________________________</FONT></TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD>&nbsp;</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"></P>

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


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</DOCUMENT>
<DOCUMENT>
<TYPE>EX-10.3
<SEQUENCE>5
<FILENAME>tm219877d1_ex10-3.htm
<DESCRIPTION>EXHIBIT 10.3
<TEXT>
<HTML>
<HEAD>
     <TITLE></TITLE>
</HEAD>
<BODY STYLE="font: 10pt Times New Roman, Times, Serif">

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

<P STYLE="text-align: right; margin: 0"><B>Exhibit 10.3</B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">NEITHER THIS SECURITY NOR THE SECURITIES
FOR WHICH THIS SECURITY IS EXERCISABLE HAVE BEEN REGISTERED WITH THE SECURITIES AND EXCHANGE COMMISSION OR THE SECURITIES COMMISSION
OF ANY STATE IN RELIANCE UPON AN EXEMPTION FROM REGISTRATION UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE &ldquo;SECURITIES
ACT&rdquo;), AND, ACCORDINGLY, MAY NOT BE OFFERED OR SOLD EXCEPT PURSUANT TO AN EFFECTIVE REGISTRATION STATEMENT UNDER THE SECURITIES
ACT OR PURSUANT TO AN AVAILABLE EXEMPTION FROM, OR IN A TRANSACTION NOT SUBJECT TO, THE REGISTRATION REQUIREMENTS OF THE SECURITIES
ACT AND IN ACCORDANCE WITH APPLICABLE STATE SECURITIES LAWS. THIS SECURITY AND THE SECURITIES ISSUABLE UPON EXERCISE OF THIS SECURITY
MAY BE PLEDGED IN CONNECTION WITH A BONA FIDE MARGIN ACCOUNT OR OTHER LOAN SECURED BY SUCH SECURITIES.</P>

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

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="text-transform: uppercase"><B>ANCHIANO
THERAPEUTICS LTD.</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">&nbsp;&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: 50%; text-align: left; direction: rtl; unicode-bidi: embed">&nbsp;</TD>
    <TD STYLE="width: 50%; text-align: left; direction: rtl; unicode-bidi: embed">Initial Exercise Date: _______, 2021</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: left; direction: rtl; unicode-bidi: embed">&nbsp;</TD>
    <TD STYLE="text-align: left; direction: rtl; unicode-bidi: embed">Issue Date: _______, 2021</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: left; direction: rtl; unicode-bidi: embed">&nbsp;</TD>
    <TD STYLE="text-align: left; direction: rtl; unicode-bidi: embed">Holder&rsquo;s Pro Rata Share: as defined below</TD></TR>
</TABLE>
<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: 28.35pt">THIS WARRANT TO PURCHASE
ORDINARY SHARES REPRESENTED BY AMERICAN DEPOSITARY SHARES (the &ldquo;<U>Warrant</U>&rdquo;) certifies that, for value received,
_____________ or its assigns (the &ldquo;<U>Holder</U>&rdquo;) is entitled, upon the terms and subject to the limitations on exercise
and the conditions hereinafter set forth, at any time after the Closing Date (as such term is defined therein) (the &ldquo;<U>Initial
Exercise Date</U>&rdquo;) of that certain Securities Purchase Agreement by and between Anchiano Therapeutics Ltd. (the &ldquo;<U>Company</U>&rdquo;)
and the Purchasers listed thereto dated _____________ (the &ldquo;<U>Securities Agreement</U>&rdquo;) and on or prior to the close
of business on the fifth year anniversary of the Initial Exercise Date (the &ldquo;<U>Termination Date</U>&rdquo;, and such period
between the Initial Exercise Date and the Termination Date, the &ldquo;<U>Exercise Period</U>&rdquo;), but not thereafter, to subscribe
for and purchase from the Company, up to such number of ordinary shares, no par value (&ldquo;<U>Ordinary Shares</U>&rdquo;), represented
by American Depositary Shares (&ldquo;<U>ADSs</U>&rdquo;), which is the outcome of the formula set forth in Section 2(b) below,
as subject to adjustment hereunder. The Ordinary Shares issuable upon exercise of this Warrant are referred to herein as the &ldquo;<U>New
Warrant Shares</U>&rdquo; and the ADSs representing the New Warrant Shares are referred to herein as the &ldquo;<U>Warrant ADSs</U>.&rdquo;
This Warrant is one of a series of similar warrants (&ldquo;<U>Warrants</U>&rdquo;) issued by the Company to the Purchasers parties
to the Securities Agreement (together with the Holder, the &ldquo;<U>Holders</U>&rdquo;). The term &ldquo;<U>Majority Holders</U>&rdquo;
means the Holders representing the majority of the purchase price subscribed for at the Securities Agreement. &ldquo;Holder&rsquo;s
Pro Rata Share&rdquo; shall mean the pro rata share of the Holder of all of the purchase price subscribed for under the Securities
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"><U>Section 1</U>. <U>Definitions</U>.
Capitalized terms used and not otherwise defined herein shall have the meanings set forth in the Securities 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"><U>Section 2</U>.&nbsp;<U>Exercise</U>.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">a)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Number of Warrant Shares</U>. Subject to the terms and conditions set forth herein, the Holder is entitled, subject to
the occurrence of a Triggering Event (as such term is defined below), to purchase from the Company such number of New Warrant Shares
as shall be calculated in accordance with the formula set forth in Section 2(b) below.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">b)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><U>Triggering
Events; Calculation of the Number of Warrant ADSs</U>. During the Exercise Period, upon the exercise of the Chemomab Warrants
(as such term defined in the Securities Agreement) by any holder thereof (the &ldquo;<U>Triggering Event</U>&rdquo;), the
Company shall issue to the Holder, upon the exercise of this Warrant by the Holder, such number of Warrant ADSs determined as
follows:</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">(i) total number of
ADS(s) issued upon the exercise of the Chemomab Warrants, <U>multiplied</U> by (ii) the Holder&rsquo;s Pro Rata Share (on an outstanding
basis) (as defined above) and <U>multiplied</U> by (iii) [<I><U>Insert Exchange Ratio</U></I><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><SUP>1</SUP></FONT>].</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">Provided, however that notwithstanding
anything to the contrary herein, the Company shall be obligated to update and notify the Holder only at the end of each calendar
quarter with respect to all (if any) of the exercises of the Chemomab Warrants during such calendar quarter.</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">c)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Exercise of Warrant</U>. Exercise of the purchase rights represented by this Warrant may be made, in whole or in part,
at any time or times on or after the Initial Exercise Date but not later than the Termination Date by delivery to the Company (or
such other office or agency that the Company may designate by notice in writing to the registered Holder at the address of the
Holder appearing on the books of the Company) of a duly executed facsimile copy or PDF copy submitted by electronic mail (or e-mail
attachment) of the Notice of Exercise in the form annexed hereto (the &ldquo;<U>Notice of Exercise</U>&rdquo;). Within the earlier
of (i) two (2) trading days on the trading market on which the ADSs are then listed or quoted (each, a &ldquo;<U>Trading Day</U>&rdquo;),
and (ii) the number of Trading Days comprising the Standard Settlement Period (as defined in Section 2(f)(i) herein) following
the date of exercise as aforesaid, the Holder shall deliver the aggregate Exercise Price for the Warrant ADSs specified in the
applicable Notice of Exercise by wire transfer or cashier&rsquo;s check. No ink-original Notice of Exercise shall be required,
nor shall any medallion guarantee (or other type of guarantee or notarization) of any Notice of Exercise be required. Notwithstanding
anything herein to the contrary, the Holder shall not be required to physically surrender this Warrant to the Company until the
Holder has purchased all of the Warrant ADSs available hereunder and the Warrant has been exercised in full, in which case, the
Holder shall surrender this Warrant to the Company for cancellation within three (3) Trading Days of the date on which the final
Notice of Exercise is delivered to the Company. Partial exercises of this Warrant resulting in purchases of a portion of the total
number of Warrant ADSs available hereunder shall have the effect of lowering the outstanding number of Warrant ADSs purchasable
hereunder in an amount equal to the applicable number of Warrant ADSs purchased. The Holder and the Company shall maintain records
showing the number of Warrant ADSs purchased and the date of such purchases. The Company shall deliver any objection to any Notice
of Exercise within one (1) Business Day of receipt of such notice.&nbsp;<B>The Holder and any assignee, by acceptance of this Warrant,
acknowledge and agree that, by reason of the provisions of this paragraph, following the purchase of a portion of the Warrant ADSs
hereunder, the number of Warrant ADSs available for purchase hereunder at any given time may be less than the amount stated on
the face hereof.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 35.45pt; text-align: justify; text-indent: 36.55pt">&nbsp;&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">In no event will the Company be required
to net cash settle a Warrant exercise.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">d)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Exercise Price</U>. The exercise price per ADS under this Warrant shall be&nbsp;<B>$0.01</B>, subject to adjustment hereunder
(the &ldquo;<U>Exercise Price</U>&rdquo;).</P>

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.5in; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.5in; text-align: justify; text-indent: 0.5in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: left"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><SUP>1</SUP></FONT>
Such Exchange Ratio to reflect the ratio between the % of Chemomab shareholders holdings issued ADS(s) at the Company and the %
of total PIPE investors holdings of issued ADS(s) at the Company, all on an issued and outstanding basis, immediately after closing.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.5in; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.5in; text-align: justify; text-indent: 0.5in"></P>

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    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.5in; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.5in; text-align: justify; text-indent: 0.5in">i.&nbsp;<U>Delivery
of Warrant ADSs Upon Exercise</U>. The Company shall deposit the New Warrant Shares subject to such exercise with the Israeli
custodian of The Bank of New York Mellon, the Depositary for the ADSs (the &ldquo;<U>Depositary</U>&rdquo;), and cause the
Depositary to credit the account of the Holder&rsquo;s or its designee&rsquo;s balance account with The Depository Trust
Company (or another established clearing corporation performing similar functions) through its Deposit/Withdrawal At
Custodian system (&ldquo;DWAC&rdquo;) if the Depositary is then a participant in such system and either (A) there is an
effective registration statement permitting the issuance of the Warrant ADSs to or resale of the Warrant ADSs by the Holder
or (B) the Warrant ADSs are eligible for resale by the Holder without volume or manner-of-sale limitations pursuant to Rule
144, and otherwise by physical delivery of a certificate, registered in the name of the Holder or its designee, for the
number of Warrant ADSs to which the Holder is entitled pursuant to such exercise to the address specified by the Holder in
the Notice of Exercise, by the date that is the earlier of (i) one (1) Trading Day and (ii) the number of Trading Days
comprising the Standard Settlement Period after the delivery to the Company of the Notice of Exercise (such date, the
 &ldquo;<U>Warrant ADS Delivery Date</U>&rdquo;). Upon delivery of the Notice of Exercise, the Holder shall be deemed for all
corporate purposes to have become the holder of record of the Warrant ADSs with respect to which this Warrant has been
exercised, irrespective of the date of delivery of the Warrant ADSs, provided that payment of the aggregate Exercise Price
(other than in the case of a cashless exercise) is received within the earlier of (i) two (2) Trading Days and (ii) the
number of Trading Days comprising the Standard Settlement Period following delivery of the Notice of Exercise. If the Company
fails for any reason to deliver to the Holder the Warrant ADSs subject to a Notice of Exercise by the Warrant ADS Delivery
Date, the Company shall pay to the Holder, in cash, as liquidated damages and not as a penalty, for each $1,000 of Warrant
ADSs subject to such exercise (based on the VWAP of the ADS on the date of the applicable Notice of Exercise), $10 per
Trading Day (increasing to $20 per Trading Day on the fifth Trading Day after such liquidated damages begin to accrue) for
each Trading Day after such Warrant ADS Delivery Date until such Warrant ADSs are delivered or Holder rescinds such exercise.
The Company agrees to maintain a depositary that is a participant in the FAST program so long as this Warrant remains
outstanding and exercisable, if applicable. As used herein, &ldquo;<U>Standard Settlement Period</U>&rdquo; means the
standard settlement period, expressed in a number of Trading Days, on the Company&rsquo;s primary Trading Market with respect
to the ADS as in effect on the date of delivery of the Notice of Exercise.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.5in; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.5in; text-align: justify; text-indent: 0.5in">ii.&nbsp;<U>Delivery
of New Warrants Upon Exercise</U>. If this Warrant shall have been exercised in part, the Company shall, at the request of a Holder
and upon surrender of this Warrant certificate, at the time of delivery of the Warrant ADSs, deliver to the Holder a new Warrant
evidencing the rights of the Holder to purchase the unpurchased Warrant ADSs called for by this Warrant, which new Warrant shall
in all other respects be identical with this Warrant.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.5in; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.5in; text-align: justify; text-indent: 0.5in">iii.&nbsp;<U>Rescission
Rights</U>. If the Company fails to cause the Depositary to transmit to the Holder the Warrant ADSs pursuant to Section 2(e)(i)
by the Warrant ADS Delivery Date, then the Holder will have the right to rescind such exercise.&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.5in; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.5in; text-align: justify; text-indent: 0.5in">iv.&nbsp;<U>No
Fractional New Warrant Shares or Scrip</U>. No fractional New Warrant Shares or Warrant ADSs shall be issued upon the exercise
of this Warrant. As to any fraction of an ADS which the Holder would otherwise be entitled to purchase upon such exercise, the
Company shall, at its election, either pay a cash adjustment in respect of such final fraction in an amount equal to such fraction
multiplied by the Exercise Price or round up to the next whole ADS.&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.5in; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.5in; text-align: justify; text-indent: 0.5in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.5in; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.5in; text-align: justify; text-indent: 0.5in">v.&nbsp;<U>Charges,
Taxes and Expenses</U>. Issuance of Warrant ADSs shall be made without charge to the Holder for any issue or transfer tax or other
incidental expense in respect of the issuance of Warrant ADSs, all of which taxes and expenses shall be paid by the Company, and
such Warrant ADSs shall be issued in the name of the Holder or in such name or names as may be directed by the Holder. The Company
shall pay all Depositary fees required for same-day processing of any Notice of Exercise and all fees to the Depository Trust Company
(or another established clearing corporation performing similar functions) required for same-day electronic delivery of the ADSs,
if any. The Company shall pay all applicable fees and expenses of the Depositary in connection with the issuance of the Warrant
ADSs hereunder.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.5in; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.5in; text-align: justify; text-indent: 0.5in">vii.&nbsp;<U>Closing
of Books</U>. The Company will not close its shareholder books or records in any manner which prevents the timely exercise of this
Warrant, pursuant to the terms hereof.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><U>Section 3</U>.&nbsp;<U>Certain
Adjustments</U>.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">a)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Share Dividends and Splits</U>. If the Company, at any time while this Warrant is outstanding: (i) pays a share dividend
or otherwise makes a distribution or distributions on its Ordinary Shares or ADSs or any other equity or equity equivalent securities
payable in Ordinary Shares or ADSs (which, for avoidance of doubt, shall not include any ADSs issued by the Company upon exercise
of any of the Warrants), as applicable, (ii) subdivides outstanding Ordinary Shares or ADSs into a larger number of shares or ADSs,
as applicable, (iii) combines (including by way of reverse share split) outstanding Ordinary Shares or ADSs into a smaller number
of shares or ADSs, as applicable, or (iv) issues by reclassification of Ordinary Shares, ADSs or any shares of capital stock of
the Company, as applicable, then in each case the Exercise Price shall be multiplied by a fraction of which the numerator shall
be the number of Ordinary Shares or ADSs, as applicable (excluding treasury shares, if any), outstanding immediately before such
event and of which the denominator shall be the number of Ordinary Shares or ADSs, as applicable, outstanding immediately after
such event, and the number of shares issuable upon exercise of this Warrant shall be proportionately adjusted such that the aggregate
Exercise Price of this Warrant shall remain unchanged. Any adjustment made pursuant to this Section 3(a) shall become effective
immediately after the record date for the determination of shareholders entitled to receive such dividend or distribution and shall
become effective immediately after the effective date in the case of a subdivision, combination or re-classification. For the purposes
of clarification, the Exercise Price of this Warrant will not be adjusted in the event that the Company or any Subsidiary thereof,
as applicable, sells or grants any option to purchase, or sells or grants any right to reprice, or otherwise disposes of or issues
(or announces any offer, sale, grant or any option to purchase or other disposition) any Ordinary Shares, at an effective price
per share less than the Exercise Price then in effect.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">b)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Subsequent Rights Offerings</U>. In addition to any adjustments pursuant to Section 3(a) above, if at any time the Company
grants, issues or sells any Ordinary Share Equivalents or rights to purchase shares, warrants, securities or other property pro
rata to the record holders of any class of Ordinary Shares or ADSs (the &ldquo;<U>Purchase Rights</U>&rdquo;), then, if and only
if an adjustment pursuant to this subsection would cause the Exercise Price to be reduced, the Exercise Price shall be multiplied
by a fraction, of which the denominator shall be the price per share of the Company&rsquo;s Ordinary Shares on the closing of last
Trading Day prior to the Ex-Date set in connection with such offer, and of which the numerator shall be the price per share of
the Company&rsquo;s Ordinary Shares on the applicable Ex-Date set in connection with such offer.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">c)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><U>Pro
Rata Distributions</U>. During such time as this Warrant is outstanding, if the Company shall declare or make any dividend or
other distribution of its assets (or rights to acquire its assets) to holders of Ordinary Shares or ADSs, by way of return of
capital or otherwise (including, without limitation, any distribution of cash, shares or other securities, property or
options by way of a dividend, spin off, reclassification, corporate rearrangement, scheme of arrangement or other similar
transaction) (a &ldquo;<U>Distribution</U>&rdquo;), at any time after the issuance of this Warrant, then, if and only if an
adjustment pursuant to this subsection would cause the Exercise Price to be reduced, in each such case, the Exercise Price
shall be multiplied by a fraction, of which the denominator shall be the price per share of the Company&rsquo;s Ordinary
Shares on the closing of the last Trading Day prior to the Ex-Date of such distribution, and the numerator shall be the price
per share of the Company&rsquo;s Ordinary Shares on such Ex-Date.&nbsp;</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">d)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Calculations</U>. All calculations under this Section 3 shall be made to the nearest cent or the nearest 1/100th of an
ADS, as the case may be. For purposes of this Section 3, the number of Ordinary Shares deemed to be issued and outstanding as of
a given date shall be the sum of the number of Ordinary Shares (including Ordinary Shares underlying ADSs, but excluding treasury
shares, if any) issued and outstanding.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">e)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Notice to Holder</U>. Whenever the Exercise Price is adjusted pursuant to any provision of this Section 3, the Company
shall promptly deliver to the Holder by facsimile or email a notice setting forth the Exercise Price after such adjustment and
any resulting adjustment to the number of Warrant ADSs and setting forth a brief statement of the facts requiring such adjustment.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.5in; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><U>Section 4</U>.&nbsp;<U>Transferability
of Warrant</U>.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">a)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Transferability</U>. This Warrant is not transferable.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">b)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Warrant Register</U>. The Company shall register this Warrant, upon records to be maintained by the Company for that
purpose (the &ldquo;<U>Warrant Register</U>&rdquo;), in the name of the Holder. The Company may deem and treat the registered Holder
of this Warrant as the absolute owner hereof for the purpose of any exercise hereof or any distribution to the Holder, and for
all other purposes, absent actual notice to the contrary.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">c)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Representation by the Holder</U>. The Holder, by the acceptance hereof, represents and warrants that it is acquiring
this Warrant and, upon any exercise hereof, will acquire the Warrant ADSs issuable upon such exercise, for its own account and
not with a view to or for distributing or reselling such Warrant ADSs or any part thereof in violation of the Securities Act or
any applicable state securities law, except pursuant to sales registered or exempted under the Securities Act.</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"><U>Section 5</U>.&nbsp;<U>Miscellaneous</U>.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">a)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>No Rights as Shareholder Until Exercise</U>. This Warrant does not entitle the Holder to any voting rights, dividends
or other rights as a shareholder of the Company prior to the exercise hereof as set forth in Section 2(e)(i).</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">b)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Loss, Theft, Destruction or Mutilation of Warrant</U>. The Company covenants that upon receipt by the Company of evidence
reasonably satisfactory to it of the loss, theft, destruction or mutilation of this Warrant or any stock certificate relating to
the Warrant ADSs, and in case of loss, theft or destruction, of indemnity or security reasonably satisfactory to it (which, in
the case of the Warrant, shall not include the posting of any bond), and upon surrender and cancellation of such Warrant or stock
certificate, if mutilated, the Company will make and deliver a new Warrant or stock certificate of like tenor and dated as of such
cancellation, in lieu of such Warrant or stock certificate.&nbsp;</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">c)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Fridays, Saturdays, Sundays, Holidays, etc</U>. If the last or appointed day for the taking of any action or the expiration
of any right required or granted herein shall not be a Trading Day, then, such action may be taken or such right may be exercised
on the next succeeding Trading Day.</P>

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

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

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    <!-- Field: /Page -->

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; 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">The Company covenants
that, during the period the Warrant is outstanding, it will reserve from its authorized and unissued Ordinary Shares a sufficient
number of shares to provide for the issuance of the Warrant ADSs and underlying Ordinary Shares upon the exercise of any purchase
rights under this Warrant. The Company further covenants that its issuance of this Warrant shall constitute full authority to its
officers who are charged with the duty of issuing the New Warrant Shares needed for the Depositary to issue the necessary Warrant
ADSs upon the exercise of the purchase rights under this Warrant. The Company will take all such reasonable action as may be necessary
to assure that such New Warrant Shares and Warrant ADSs may be issued as provided herein without violation of any applicable law
or regulation, or of any requirements of the applicable Trading Market upon which the Ordinary Shares and ADSs may be listed. The
Company covenants that all Warrant ADSs which may be issued upon the exercise of the purchase rights represented by this Warrant
will, upon exercise of the purchase rights represented by this Warrant and payment for such Warrant ADSs in accordance herewith,
be duly authorized, validly issued, fully paid and nonassessable and free from all taxes, liens and charges created by the Company
in respect of the issue thereof (other than taxes in respect of any transfer occurring contemporaneously with such issue).</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">Except and to the extent
as waived or consented to by the Majority Holders, the Company shall not by any action, including, without limitation, amending
its Articles of Association or through any reorganization, transfer of assets, consolidation, merger, dissolution, issue or sale
of securities or any other voluntary action, avoid or seek to avoid the observance or performance of any of the terms of this Warrant,
but will at all times in good faith assist in the carrying out of all such terms and in the taking of all such actions as may be
necessary or appropriate to protect the rights of Holder as set forth in this Warrant against impairment. Without limiting the
generality of the foregoing, the Company will (i) take all such action as may be necessary or appropriate in order that the Company
may validly and legally issue fully paid and nonassessable Warrant ADSs upon the exercise of this Warrant and (ii) use commercially
reasonable efforts to obtain all such authorizations, exemptions or consents from any public regulatory body having jurisdiction
thereof, as may be, necessary to enable the Company to perform its obligations under this Warrant.&nbsp;</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">Before taking any action
which would result in an adjustment in the number of Warrant ADSs for which this Warrant is exercisable or in the Exercise Price,
the Company shall obtain all such authorizations or exemptions thereof, or consents thereto, as may be necessary from any public
regulatory body or bodies having jurisdiction thereof.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">e)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Jurisdiction</U>. This Warrant shall be governed by, and construed in accordance with, the laws of the State of Israel,
regardless of the laws that might otherwise govern under applicable principles of conflicts of laws. In any action or proceeding
between the Company and the Holder arising out of or relating to this Warrant, each of the Company and the Holder irrevocably and
unconditionally consents and submits to the exclusive jurisdiction and venue of the courts located in Tel Aviv, Israel.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">f)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Restrictions</U>. The Holder acknowledges that the Warrant ADSs acquired upon the exercise of this Warrant, if not registered,
will have restrictions upon resale imposed by state and federal securities laws.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">g)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Nonwaiver and Expenses</U>. No course of dealing or any delay or failure to exercise any right hereunder on the part
of Holder shall operate as a waiver of such right or otherwise prejudice the Holder&rsquo;s rights, powers or remedies.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">h)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Limitation of Liability</U>. No provision hereof, in the absence of any affirmative action by the Holder to exercise
this Warrant to purchase Warrant ADSs, and no enumeration herein of the rights or privileges of the Holder, shall give rise to
any liability of the Holder for the purchase price of any Ordinary Shares or ADSs or as a shareholder of the Company, whether such
liability is asserted by the Company or by creditors of the Company.</P>

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

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

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    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="text-align: center; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt">- <!-- Field: Sequence; Type: Arabic; Name: PageNo -->7<!-- Field: /Sequence --> -</P></DIV>
    <!-- Field: /Page -->

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">i)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Remedies</U>. The Holder, in addition to being entitled to exercise all rights granted by law, including recovery of
damages, will be entitled to specific performance of its rights under this Warrant. The Company agrees that monetary damages would
not be adequate compensation for any loss incurred by reason of a breach by it of the provisions of this Warrant and hereby agrees
to waive and not to assert the defense in any action for specific performance that a remedy at law would be adequate.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">j)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Successors and Assigns</U>. Subject to applicable securities laws, this Warrant and the rights and obligations evidenced
hereby shall inure to the benefit of and be binding upon the successors and permitted assigns of the Company and the successors
and permitted assigns of Holder. The provisions of this Warrant are intended to be for the benefit of any Holder from time to time
of this Warrant and shall be enforceable by the Holder or holder of Warrant ADSs.&nbsp;</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">k)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Amendment</U>. This Warrant may be modified or amended or the provisions hereof waived with the written consent of the
Company and the Majority Holders. Any dispute between the Company and the holder of this Warrant shall be handled and controlled
exclusively by the Majority Holders and any resolution of the Majority Holders in any such dispute shall bind all the holders of
this Warrant.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">l)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Severability</U>. Wherever possible, each provision of this Warrant shall be interpreted in such manner as to be effective
and valid under applicable law, but if any provision of this Warrant shall be prohibited by or invalid under applicable law, such
provision shall be ineffective to the extent of such prohibition or invalidity, without invalidating the remainder of such provisions
or the remaining provisions of this Warrant.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">m)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Headings</U>. The headings used in this Warrant are for the convenience of reference only and shall not, for any purpose,
be deemed a part of this Warrant.</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><I>(Signature Page Follows)</I></P>

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

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

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    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="text-align: center; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt">- <!-- Field: Sequence; Type: Arabic; Name: PageNo -->8<!-- Field: /Sequence --> -</P></DIV>
    <!-- Field: /Page -->

<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: 1in">IN WITNESS WHEREOF, the
Company has caused this Warrant to be executed by its officer thereunto duly authorized as of the date first above indicated.</P>

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: left; direction: rtl; unicode-bidi: embed">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: left; direction: rtl; unicode-bidi: embed"><FONT STYLE="text-transform: uppercase"><B>ANCHIANO THERAPEUTICS LTD.</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: left; direction: rtl; unicode-bidi: embed">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: left; direction: rtl; unicode-bidi: embed">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 50%; text-align: left; direction: rtl; unicode-bidi: embed">&nbsp;</TD>
    <TD STYLE="width: 3%; text-align: left; direction: rtl; unicode-bidi: embed">By:</TD>
    <TD STYLE="border-bottom: Black 1pt solid; width: 47%; text-align: left; direction: rtl; unicode-bidi: embed">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: left; direction: rtl; unicode-bidi: embed">&nbsp;</TD>
    <TD STYLE="text-align: left; direction: rtl; unicode-bidi: embed">&nbsp;</TD>
    <TD STYLE="text-align: left; direction: rtl; unicode-bidi: embed">Name:</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: left; direction: rtl; unicode-bidi: embed">&nbsp;</TD>
    <TD STYLE="text-align: left; direction: rtl; unicode-bidi: embed">&nbsp;</TD>
    <TD STYLE="text-align: left; direction: rtl; unicode-bidi: embed">Title:</TD></TR>
</TABLE>
<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: left"></P>

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    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="text-align: center; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt">- <!-- Field: Sequence; Type: Arabic; Name: PageNo -->9<!-- Field: /Sequence --> -</P></DIV>
    <!-- Field: /Page -->

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>NOTICE OF EXERCISE</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"><FONT STYLE="text-transform: uppercase">TO:
ANCHIANO THERAPEUTICS LTD.</FONT></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: 1in">(1) The undersigned hereby
elects to purchase ________ Warrant ADSs of the Company pursuant to the terms of the attached Warrant (only if exercised in full),
and tenders herewith payment of the exercise price in full, together with all applicable transfer taxes, if any.</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">(2)&nbsp;Payment shall
take the form of (check applicable box):</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.5in; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Wingdings">&#168;</FONT></FONT>
wire transfer; or</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.5in; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Wingdings">&#168;</FONT></FONT>
bank check.</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">(3)&nbsp;Please register
and issue said Warrant ADSs in the name of the undersigned or in such other name as is specified below:</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">(4)&nbsp;The undersigned
is an &ldquo;accredited investor&rdquo; as defined in Regulation D promulgated under the Securities Act of 1933, as amended, and
is an investor of a type specified in the First Supplement to the Israeli Securities Law, 5728-1968.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.5in; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Wingdings">&#168;</FONT></FONT>
Yes.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.5in; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Wingdings">&#168;</FONT></FONT>
No.</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">Specify type of investor
under the First Supplement to the Israeli Securities Law, 5728-1968:</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>

<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 Warrant ADSs shall be delivered to
the following DWAC Account Number:</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: 1in">_______________________________</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: 1in">_______________________________</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: 1in">_______________________________</P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-transform: uppercase; width: 50%">[SIGNATURE OF HOLDER]</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-transform: uppercase; width: 50%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif">Name of Investing Entity:</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font: italic 10pt Times New Roman, Times, Serif">Signature of Authorized Signatory of Investing Entity:</TD>
    <TD STYLE="font: italic 10pt Times New Roman, Times, Serif">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif">Name of Authorized Signatory:</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif">Title of Authorized Signatory:</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif">Date:</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD></TR>
</TABLE>


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

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

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    <!-- Field: /Page -->

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

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<DOCUMENT>
<TYPE>EX-10.4
<SEQUENCE>6
<FILENAME>tm219877d1_ex10-4.htm
<DESCRIPTION>EXHIBIT 10.4
<TEXT>
<HTML>
<HEAD>
     <TITLE></TITLE>
</HEAD>
<BODY STYLE="font: 10pt Times New Roman, Times, Serif">

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

<P STYLE="text-align: right; margin: 0pt"><B>Exhibit 10.4</B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0in"><B>ASSET PURCHASE AND
ASSIGNMENT AGREEMENT</B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 28.35pt">This <B>ASSET PURCHASE
AND ASSIGNMENT AGREEMENT</B> (this &ldquo;<B>Agreement</B>&rdquo;), dated as of March 16, 2021, is made between <B>Anchiano Therapeutics,
Inc.</B>, a company organized under the laws of Delaware (&ldquo;<B>Anchiano</B>&rdquo;) and <B>Kestrel Therapeutics, Inc.</B>,
a company organized under the laws of Delaware (&ldquo;<B>Kestrel</B>&rdquo;; each of Anchiano and Kestrel, a &ldquo;<B>Party</B>&rdquo;
and, together, the &ldquo;<B>Parties</B>&rdquo;).</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><U>W I T N E S S E T H</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; text-align: justify; text-indent: 28.35pt"><B>WHEREAS</B>, Anchiano
is a party to a Collaboration and License Agreement (the &ldquo;<B>Collaboration and License Agreement</B>&rdquo;) entered into
as of September 13, 2019 by and between ADT Pharmaceuticals, LLC, a company organized and existing under the laws of Delaware (&ldquo;<B>ADT</B>&rdquo;),
and Anchiano; and</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 28.35pt"><B>WHEREAS</B>, Anchiano
wishes to sell to Kestrel, and Kestrel wishes to acquire from Anchiano, all of Anchiano&rsquo;s rights and obligations in its business
to the extent related to the research, development and commercialization of Compounds and Products (as such terms are defined in
the Collaboration and License Agreement) (the &ldquo;<B>Purchased Business</B>&rdquo;).</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 28.35pt"><B>NOW, THEREFORE</B>
Anchiano and Kestrel hereby agree as follows:</P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 28.35pt"></TD><TD STYLE="width: 42.55pt">1.</TD><TD STYLE="text-align: justify"><FONT STYLE="text-transform: uppercase"><U>PURCHASE AND SALE OF ASSETS, Assignment and Assumption</U></FONT>.&nbsp;&nbsp;</TD></TR></TABLE>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">1.1<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Defined Terms. As used in this Agreement, each capitalized term that is not otherwise defined shall have the respective
meaning specified in <U>Schedule A </U>attached hereto.</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">1.2<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Transferred Assets. Subject to the terms and conditions of this Agreement, at the Closing (as such term is defined below)
Anchiano shall sell to Kestrel, and Kestrel shall purchase from Anchiano, the following assets of Anchiano related to the Purchased
Business (the &ldquo;<B>Transferred Assets</B>&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 0pt 1in; text-align: justify; text-indent: 0in">(i) all rights,
interests, licenses and obligations of Anchiano in the Collaboration and License Agreement;</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0in">(ii) all other
assets, used by Anchiano exclusively in connection with the Purchased Business, which consist exclusively of the assets listed
on Schedule 1.2(ii) attached hereto (the &ldquo;<B>Other Transferred Assets</B>&rdquo;); and</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0in">(iii) all books
and records, other than accounting books and records, related to the Collaboration and License Agreement and the Other Transferred
Assets (the &ldquo;<B>Transferred Records</B>&rdquo;).</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">1.3<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Consent to Release Data, Reagents and Results</U>. At the Closing, Anchiano will deliver to Kestrel its written consents,
each in the form of <U>Schedule C-1</U> attached hereto, addressed to each of the parties to the agreements listed on <U>Schedule
C-2 </U>attached hereto (the &ldquo;<B>Development Services Agreements</B>&rdquo;), to release to Kestrel all of the data, reagents
and results generated for Anchiano under each of the Development Services Agreements (the &ldquo;<B>Third Party Consents</B>&rdquo;).
Kestrel acknowledges and agrees that other than the delivery of the Third Party Consents, Anchiano shall have no obligation, responsibility
or liability with respect to (i) the Development Services Agreements, (ii) the release of the data, reagents and results generated
for Anchiano under each of the Development Services Agreements, and (iii) the data, reagents and results released, if released,
pursuant to the Third Party Consents.</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">1.4<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Assumed Liabilities</U>. Subject to the terms and conditions of this Agreement, on and after the Closing Date, Kestrel
shall assume and agree to pay, perform and discharge the following Liabilities of Anchiano (the &ldquo;<B>Assumed Liabilities</B>&rdquo;):
(i) any Liabilities resulting from the ownership or use of the Transferred Assets by Kestrel that arise from any event, condition
or circumstance occurring after the Closing Date and not resulting from any breach by Anchiano of any of its obligations under
this Agreement; and (ii) any Taxes imposed on the Transferred Assets or that otherwise arise with respect to the use of the Transferred
Assets, in each case, that are payable on or after the Closing Date.</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">1.5<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Excluded Liabilities</U>. Anchiano shall retain, and shall be responsible for paying, performing and discharging when
due, and Kestrel shall not assume or have any responsibility for paying, performing or discharging, any Liabilities of Anchiano
and its Affiliates other than the Assumed Liabilities (the &ldquo;<B>Excluded Liabilities</B>&rdquo;).&nbsp; Without limiting the
foregoing, neither Kestrel nor its Affiliates shall be obligated to assume, and none of them does assume, and each of them hereby
disclaims responsibility for, any of the following Liabilities of Anchiano and its Affiliates: (i) any Liability attributable to
any asset, property or right that is not included in the Transferred Assets; (ii) any Liabilities payable under the Collaboration
and License Agreement prior to the Closing Date; (iii) any Liability attributable to any action of, or failure to act by, Anchiano
under the Collaboration and License Agreement prior to the Closing Date; (iv) any Liability attributable to the ownership, use,
operation or maintenance of any of the Other Transferred Assets on or prior to the Closing Date; and (v) all Taxes imposed on the
Transferred Assets or that otherwise arise with respect to the use of the Transferred Assets, in each case, that are payable prior
to the Closing Date.</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">1.6<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Purchase Price. As consideration for the assignment of the Transferred Assets, Kestrel shall, at the Closing, (i) pay to
Anchiano the sum of US$875,000 (the &ldquo;<B>Purchase Price</B>&rdquo;) (such amount is in addition to the &ldquo;Upfront Payment&rdquo;
in the amount of US$125,000 made by Kestrel to Anchiano prior to the Closing Date pursuant to the Term Sheet between the Parties
dated January 11, 2021), and (ii) assume the Assumed Liabilities.</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">1.7<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Bill of Sale; Assignment. The sale by Anchiano, and the purchase by Kestrel, of the Purchased Business shall be effectuated
pursuant to a Bill of Sale between Anchiano, as seller, and Kestrel, as purchaser (the &ldquo;<B>Bill of Sale</B>&rdquo;). In addition,
Anchiano shall assign and convey to Kestrel, and Kestrel shall assume, undertake and receive from Anchiano, Anchiano&rsquo;s rights
and obligations in the Collaboration and License Agreement, pursuant to those certain instruments of Assignment and Assumption,
to be dated as of the date of the Closing, between Anchiano, as assignor, and Kestrel, as assignee (each such instrument, an &ldquo;<B>Assignment</B>&rdquo;
and, collectively, the &ldquo;<B>Assignments</B>&rdquo;), the form of which is attached hereto as <U>Schedule B</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"></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>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 28.1pt"></TD><TD STYLE="width: 42.5pt">2.</TD><TD STYLE="text-align: justify"><FONT STYLE="text-transform: uppercase"><U>Representations and Warranties</U></FONT>.&nbsp;</TD></TR></TABLE>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 76.5pt">2.1<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Anchiano hereby represents and warrants to Kestrel as follows, subject to any exceptions contained in the Anchiano Disclosure
Schedule attached to this Agreement:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 76.5pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in">(i)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Anchiano
is a corporation duly organized, validly existing and in good standing under the laws of the State of Delaware.</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) Anchiano has all
requisite corporate power and authority to&nbsp;execute, deliver and perform its obligations under this Agreement and all other
documents executed by Anchiano prior to or at the Closing in connection with the sale of the Purchased Business and the assignment
of the Transferred Assets to Kestrel, including without limitation the Bill of Sale and the Assignments (this Agreement and all
such other documents, collectively the &ldquo;<B>Transaction Agreements</B>&rdquo;). The execution and delivery by Anchiano of
the Transaction Agreements and the consummation by Anchiano of the transactions contemplated thereby have been duly and validly
authorized by all requisite corporate action. The Transaction Agreements will as of the Closing Date be duly executed and delivered
by, and, assuming each of them constitutes the valid and binding agreement of Kestrel, will constitute as of the Closing Date,
the legal, valid and binding obligation of, Anchiano enforceable against Anchiano in accordance with their respective terms, subject
to bankruptcy, insolvency, fraudulent conveyance, reorganization, moratorium and similar Laws affecting the enforceability of contractual
obligations and creditor&rsquo;s rights generally and by the application of equitable principles by courts of competent jurisdiction,
sitting at law or in equity.</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)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
execution, delivery and performance of the Transaction Agreements by Anchiano and the consummation by Anchiano of the transactions
contemplated thereby do not and will not: (a)&nbsp;conflict with or violate the organizational documents of Anchiano, (b) conflict
with or violate any Law, Order or Permit applicable to Anchiano, (c)&nbsp;violate any provision of or result in a breach, default
or acceleration of, or require a consent under, any material agreement or instrument to which Anchiano is a party or by which Anchiano
is bound, or constitute an event which, after notice or lapse of time or both, would result in any such violation, breach, default
or acceleration, (d) result in any Third Party having any right to participate in the transactions contemplated by this Agreement
or result in any Third Party having any right of first refusal, option or similar right with respect to any of the Transferred
Assets, or (e) result in the imposition of any Lien on the Transferred Assets.</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)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
copy of the Collaboration and License Agreement included in Section 2.1(iv) of the Anchiano Disclosure Schedule attached to this
Agreement is true and correct.</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">(v)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Anchiano
has not previously sold, transferred, leased or assigned, or entered into any agreement to sell, transfer, lease or assign, all
or any portion of the Transferred Assets.</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">(vi)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
Collaboration and License Agreement is valid and is in full force and effect; has not previously been amended, modified, supplemented
or superseded; is the sole agreement between Anchiano and ADT; and is the valid and binding obligation of Anchiano, enforceable
in accordance with its respective terms.</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>

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<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">(vii)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;ADT
has not provided Anchiano with written notice regarding any default by Anchiano under such Collaboration and License Agreement.
There are no uncured defaults on the part of Anchiano under the Collaboration and License Agreement, and there are no events that
have occurred which, with notice or lapse of time or both, would constitute a default by Anchiano under the Collaboration and License
Agreement. To the knowledge of Anchiano, ADT is not in default under the Collaboration and License Agreement.</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">(viii) The Transferred
Assets constitute substantially all of the business of Anchiano to which the Collaboration and License Agreement relates.</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">(ix) &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Except
as expressly set forth in Sections 2.1(i) though (viii) above, (a) the sale of the Purchased Business and the sale and assignment
of the Transferred Assets is being made on an &ldquo;as is, where is&rdquo; basis and (b) TO THE MAXIMUM EXTENT PERMITTED BY APPLICABLE
LAW, ANCHIANO, ANCHIANO&rsquo;S AFFILIATES AND LICENSORS EXPRESSLY DISCLAIM ALL WARRANTIES OF ANY KIND, WHETHER EXPRESS OR IMPLIED,
REGARDING THE PURCHASED BUSINESS AND THE TRANSFERRED ASSETS, INCLUDING BUT NOT LIMITED TO ANY IMPLIED WARRANTIES OF MERCHANTABILITY,
FITNESS FOR A PARTICULAR PURPOSE AND NON-INFRINGEMENT. UNDER NO CIRCUMSTANCES WILL EITHER PARTY BE LIABLE UNDER ANY CONTRACT, STRICT
LIABILITY, NEGLIGENCE OR OTHER LEGAL OR EQUITABLE THEORY, FOR ANY INCIDENTAL OR CONSEQUENTIAL DAMAGES OR LOST PROFITS IN CONNECTION
WITH THE SUBJECT MATTER OF THIS AGREEMENT EVEN IF ADVISED OF THE POSSIBILITY OF SUCH DAMAGES.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 72.7pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">2.2<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Kestrel hereby represents and warrants to Anchiano as follows:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 76.5pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in">(i)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Kestrel is a corporation duly organized, validly existing and in good standing under the laws of the State of Delaware.</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)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT> Kestrel has all requisite corporate power and authority to execute, deliver and perform its obligations under the Transaction
Agreements. The execution and delivery by Kestrel of the Transaction Agreements and the consummation by Kestrel of the transactions
contemplated thereby have been duly and validly authorized by all requisite corporate action. The Transaction Agreements will as
of the Closing Date be, duly executed and delivered by, and, assuming each of them constitutes the valid and binding agreement
of Anchiano, will constitute as of the Closing Date, the legal, valid and binding obligation of, Kestrel enforceable against Kestrel
in accordance with their respective terms, subject to bankruptcy, insolvency, fraudulent conveyance, reorganization, moratorium
and similar Laws affecting the enforceability of contractual obligations and creditor&rsquo;s rights generally and by the application
of equitable principles by courts of competent jurisdiction, sitting at law or in equity.</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)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
execution, delivery and performance of the Transaction Agreements by Kestrel do not and will not: (a) conflict with or violate
the organizational documents of Kestrel, or (b)&nbsp;violate any provision of or result in a breach, default or acceleration of,
or require a consent under, any material agreement or instrument to which Kestrel is a party or by which Kestrel is bound, or constitute
an event which, after notice or lapse of time or both, would result in any such violation, breach, default or acceleration.</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>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 28.35pt"></TD><TD STYLE="width: 42.55pt; text-align: left">3.</TD><TD STYLE="text-align: justify"><U>CLOSING</U>.</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 70.9pt; text-align: justify; text-indent: -42.55pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">3.1<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>The transactions contemplated under this Agreement shall occur and take place at a closing (the &ldquo;<B>Closing</B>&rdquo;)
to be held on (A) the later of (i) March 31, 2021, and (ii) the date on which the shareholders of Anchiano Therapeutics Ltd. approve
the currently proposed merger with Chemomab Ltd.; (B) April 30, 2021 if such shareholder approval has not occurred by April 30,
2021, or (C) such other date as shall be mutually agreed between the Parties (such date, the &ldquo;<B>Closing Date</B>&rdquo;).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 58.5pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">3.2<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>At the Closing, Kestrel shall pay the Purchase Price, and each of the Parties shall execute and deliver or cause to be delivered
to the other Party all documents and instruments, including the Bill of Sale, the Assignments and the Third Party Consents, required
for the performance of the transactions contemplated hereunder.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 58.5pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 27pt">4.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>PARTIES&rsquo; OBLIGATIONS</U>. Subject to compliance with the terms described herein, each Party undertakes to take
all necessary steps, perform all acts required and execute and deliver to the other Party all such agreements, instruments or documents
which may be required for the performance of its obligations herein and the consummation of the transaction contemplated hereunder.
Upon and following the Closing, Kestrel shall assume the Assumed Liabilities and shall be bound by the terms and conditions of
the Collaboration and License Agreement and Anchiano shall have no further liability for the Assumed Liabilities in connection
therewith.</P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 28.35pt"></TD><TD STYLE="width: 42.55pt">5.</TD><TD STYLE="text-align: justify"><U>MISCELLANEOUS</U>.</TD></TR></TABLE>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">5.1<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>All of the provisions of this Agreement and of any of the documents and instruments executed in connection herewith shall
apply to and be binding upon, and inure to the benefit of Anchiano and Kestrel, and their respective successors and assigns.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 40.5pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">5.2<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>This Agreement and the schedules hereto, together with the other documents and instruments executed and delivered in connection
herewith, including the Bill of Sale, the Assignments and the Existing CDA, set forth the entire agreement between Anchiano and
Kestrel relating to the transactions contemplated hereby, and all other prior or contemporaneous agreements, understandings, representations
or statements, oral or written, relating directly to the transactions contemplated hereby are superseded by this Agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 40.5pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">5.3<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>This Agreement and the terms hereof may not be changed, waived, modified, supplemented, canceled, discharged or terminated
orally, but only by an instrument or instruments in writing executed and delivered by the Parties.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 40.5pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">5.4<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT>This
Agreement shall be governed by and construed in accordance with the laws of the State of Delaware, without regard to conflict
of laws principles. Each of the Parties hereby agrees to the exclusive jurisdiction and venue of the appropriate state or
federal court located in Miami, Florida in connection with any matter based upon or arising out of this Agreement or the
other Transaction Agreements. Each Party hereby consents to service of process in any such proceeding in any manner permitted
by the law of the jurisdiction in which jurisdiction and venue is located, and further consents to service of process by
internationally recognized courier service (e.g., DHL) at its address specified pursuant to Section <FONT STYLE="font-size: 10pt">&#8206;</FONT>5.5.
Notwithstanding the foregoing in this Section <FONT STYLE="font-size: 10pt">&#8206;</FONT>5.4, any Party may commence any
action, claim, cause of action or suit in a court other than the above-named courts solely for the purpose of enforcing an
order or judgment issued by one of the above-named courts. TO THE EXTENT NOT PROHIBITED BY APPLICABLE LEGAL REQUIREMENTS
WHICH CANNOT BE WAIVED, EACH OF THE PARTIES IRREVOCABLY AND UNCONDITIONALLY WAIVES ANY RIGHT TO TRIAL BY JURY ON ANY CLAIMS
OR COUNTERCLAIMS ASSERTED IN ANY LEGAL DISPUTE RELATING TO THIS AGREEMENT OR ANY OTHER TRANSACTION 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"></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">5.5<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Any notice under this Agreement shall be sent to the Parties at their respective addresses set forth below or such other
addresses as may from time to time be notified in accordance with this section. Notices may be sent by hand, by internationally
recognized courier service (e.g., DHL) or by email, and shall be deemed to be given when delivered in the case of delivery by hand
or internationally recognized courier service or when confirmation of transmittal is received by the sender in the case of email.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 40.5pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 99.25pt">To Anchiano: </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 99.25pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 63.8pt; text-indent: 35.45pt">Anchiano Therapeutics, Inc.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 63.8pt; text-indent: 35.45pt">One Kendall Square, Building1400E,
Suite 14-105, Cambridge, MA 02139</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 63.8pt; text-indent: 35.45pt">Attn:&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;CEO</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 99.35pt; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 63.8pt; text-indent: 35.45pt">with a copy (which shall not constitute notice) to:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 99.25pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 99.25pt">Goldfarb Seligman &amp; Co.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 99.25pt">Ampa Tower, 98 Yigal Alon Street</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 99.25pt">Tel Aviv 6789141, Israel</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 99.25pt">Attn:&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Aaron M. Lampert</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 99.25pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 63.8pt; text-indent: 35.45pt">To Kestrel:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 63.8pt; text-indent: 35.45pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 63.8pt; text-indent: 35.45pt">Kestrel Therapeutics, Inc.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 63.8pt; text-indent: 35.45pt">102 Sears Road, Wayland, MA 01778</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 63.8pt; text-indent: 35.45pt">Attn:&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Frank
G. Haluska, M.D., Ph.D.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 2in">President and CEO</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 99.35pt; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 63.8pt; text-indent: 35.45pt">with a copy (which shall not constitute
notice) to:</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 63.8pt; text-indent: 35.45pt">Mintz, Levin, Cohn, Ferris, Glovsky and Popeo, P.C.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 63.8pt; text-indent: 35.45pt">One Financial Center</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 63.8pt; text-indent: 35.45pt">Boston, MA 02111</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 63.8pt; text-indent: 35.45pt">Attn:&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;John J. Cheney, Esq.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">6.6&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;No
delay or omission to exercise any right, power, or remedy accruing to any Party upon any breach or default under this
Agreement, shall be deemed a waiver of any other breach or default theretofore or thereafter occurring. Any waiver, permit,
consent, or approval of any kind or character on the part of any Party of any breach or default under this Agreement, or any
waiver on the part of any Party of any provisions or conditions of this Agreement, must be in writing and shall be effective
only to the extent specifically set forth in such writing. All remedies, either under this Agreement or by law or otherwise
afforded to any of the parties, shall be cumulative and not alternative.</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"></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in">6.7&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
invalidity or unenforceability of any provision or part of any provision of this Agreement shall not affect the validity or enforceability
of any other provision or part thereof, and any invalid or unenforceable provision or part thereof shall be deemed to be separate,
severable and distinct, and no provision or part thereof shall be deemed dependent upon any other provision or part thereof unless
expressly provided for herein.</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">6.8&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Neither
Party may assign this Agreement, or any of its rights, interests or obligations under this Agreement without the prior written
consent of the other Party.</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">6.9&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;This
Agreement may be executed in one or more counterparts, each of which when executed shall constitute an original and all of which
so executed shall constitute one and the same agreement.</P>

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

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left blank]</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>IN WITNESS WHEREOF,
</B>the parties hereto have caused this Agreement to be executed as of the day and year first above written.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 3in; text-indent: -2in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font: bold 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font: bold 10pt Times New Roman, Times, Serif">Anchiano Therapeutics, Inc.</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 50%">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 3%">By:</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; width: 47%">/s/ Neil Cohen</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif">Name: Neil Cohen</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif">Title: CEO</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font: bold 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font: bold 10pt Times New Roman, Times, Serif">Kestrel Therapeutics, Inc.</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif">By:</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif">/s/ Frank Haluska</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif">Name: Frank Haluska</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif">Title: CEO</TD></TR>
</TABLE>


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

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

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

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 4in; text-indent: -45pt">&nbsp;</P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&ldquo;<B>Existing NDA</B>&rdquo; means
that certain Mutual Non-Disclosure Agreement, by and between the Parties, dated October 28, 2020, as amended.</P>

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

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&ldquo;<B>Governmental Entity</B>&rdquo;
means any court, tribunal, arbitrator, regulatory authority, agency, commission, department, ministry, official or other instrumentality
of the United States or other country, or any supra-national organization, or any foreign or domestic, state, county, city or other
political subdivision.</P>

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

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 35.45pt">&ldquo;<B>Law</B>&rdquo; means any federal,
state, local or foreign law, statute, code or ordinance, or any rule or regulation promulgated by any Governmental Entity including
all decisions of any courts having the effect of law in each such jurisdiction.</P>

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

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 35.45pt"><B>&ldquo;Liability</B>&rdquo; means any
and all debts, liabilities and obligations, whether known or unknown, asserted or unasserted, determinable or otherwise, accrued
or fixed, absolute or contingent, liquidated or unliquidated, incurred or consequential, or matured or unmatured, including, without
limitation, those arising under any Law, Litigation, Order, or agreement.</P>

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

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&ldquo;<B>Lien</B>&rdquo; means any mortgage,
lien, encumbrance, pledge, security interest, attachment, encumbrance or lien (statutory or otherwise) which (a) creates or confers
an interest in property to secure payment or performance of a Liability or which retains or reserves such an interest for such
purpose; or (b) otherwise constitutes an interest in, or claim against, property.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&ldquo;<B>Litigation</B>&rdquo;
means any suit, action, arbitration, cause of action, claim, complaint, criminal prosecution, investigation, inquiry, demand letter,
judicial, arbitration or other administrative proceeding, whether at law or at equity, before or by any court, Governmental Entity,
arbitrator or other tribunal.</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;<B>Order</B>&rdquo;
means any judgment, order, writ, injunction, ruling, stipulation, determination, award or decree of or by, or any settlement under
the jurisdiction of, any court or Governmental Entity.</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;<B>Permit</B>&rdquo;
means any license, permit, application, consent, certificate, registration, approval and authorization pending before, issued,
granted, given or otherwise made available by, or under the authority of, any Governmental Authority.</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: 35.45pt"><B>&ldquo;Tax</B>&rdquo;
or &ldquo;<B>Taxes</B>&rdquo; means all income, excise, gross receipts, ad valorem, sales, use, employment, environmental, franchise,
profits, gains, property, transfer, value added, payroll, escheat or abandoned property, intangibles or other taxes, fees, stamp
taxes, duties, charges, levies or assessments of any kind whatsoever (whether payable directly or by withholding), together with
any interest and any penalties, additions to tax or additional amounts imposed by any Governmental Entity with respect thereto,
whether as a primary obligor, as a result of being a transferee, successor or a member of an affiliated, consolidated, unitary,
combined or other group, by contract, pursuant to Law or otherwise.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 35.45pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 35.45pt"></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; text-align: justify; text-indent: 35.45pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 35.45pt"><B><U>Schedule 1.2(ii)</U></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 35.45pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 35.45pt"><B><U>Other Assets
Used Exclusively in Connection with the Purchased Business</U></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 35.45pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 35.45pt">None</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 35.45pt">&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; text-align: center"><B><U>Schedule B</U></B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B><U>Form of Instrument of Assignment and
Assumption </U></B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">On this [__] day of
[______], 2021, <B>Anchiano Therapeutics, Inc.</B>, a company organized under the laws of the State of Delaware (&ldquo;<B>Assignor</B>&rdquo;),
hereby assigns to <B>Kestrel Therapeutics, Inc.</B>, a company organized under the laws of the State of Delaware (&ldquo;<B>Assignee</B>&rdquo;),
all right, title and interest of Assignor in and to that certain agreement between Assignor and [______________], dated [_________],
copy of which is attached hereto as <U>Exhibit A</U> and made a part hereof]<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; font-weight: normal"><SUP>1</SUP></FONT>
(the &ldquo;<B>Assigned Asset</B>&rdquo;).</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Assignee hereby expressly
assumes all of the obligations imposed upon Assignor under the Collaboration and License Agreement accruing from and after the
date hereof[, and all existing monetary obligations under the Collaboration and License Agreement [other than the Excluded Liabilities]].
Assignor shall be released from all liabilities and responsibilities arising from the assigned contract.</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 Assignment and
Assumption of the Collaboration and License Agreement is made by Assignor without any express or implied representation or warranty
whatsoever except to the extent expressly provided in that certain Asset Purchase and Assignment Agreement, dated as of March 16,
2021 (the &ldquo;<B>Agreement</B>&rdquo;), between Assignor and Assignee.</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 Assignment and
Assumption of the Collaboration and License Agreement shall be binding upon and inure to the benefit of the parties hereto and
their respective successors and assigns.</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">Any inconsistency between
the terms herein and the terms set forth in the Agreement shall be resolved in favor of the terms of the 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 WITNESS WHEREOF,
Assignor and Assignee have caused this Assignment and Assumption to be executed as of the date first set forth above.</P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%">
<TR STYLE="vertical-align: bottom">
    <TD COLSPAN="2" STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left">Anchiano Therapeutics, Inc.</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left">Kestrel Therapeutics, Inc.</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD COLSPAN="2" STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD><TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 3%">By:</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; width: 45%">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 4%">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 3%">By:</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; width: 45%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD COLSPAN="2" STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD><TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD COLSPAN="2" STYLE="font: 10pt Times New Roman, Times, Serif">Name:</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font: 10pt Times New Roman, Times, Serif">Name:</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD COLSPAN="2" STYLE="font: 10pt Times New Roman, Times, Serif">Title:</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font: 10pt Times New Roman, Times, Serif">Title:</TD></TR>
</TABLE>


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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><SUP>1</SUP> To be inserted for the applicable Transferred
Agreements</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; text-align: center"><B><U>Schedule C-1</U></B></P>

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B><U>Schedule C-2</U></B></P>

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

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

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

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

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

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<DOCUMENT>
<TYPE>EX-99.1
<SEQUENCE>7
<FILENAME>tm219877d1_ex99-1.htm
<DESCRIPTION>EXHIBIT 99.1
<TEXT>
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<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="margin: 0; text-align: right"><B>Exhibit 99.1</B></P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: left; font: bold 10pt Times New Roman, Times, Serif"><IMG SRC="tm219877d1_ex99-1img01.jpg" ALT=""></TD>
    <TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: right"><IMG SRC="tm219877d1_ex99-1img02.jpg" ALT="">&nbsp;</TD></TR>
</TABLE>


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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; background-color: white"><B>Anchiano Announces
Shareholder Approval of the Merger with Chemomab and Prices $45.5M Private Financing</B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 35.7pt"><I>Anchiano shareholders approve all resolutions
at shareholder meeting</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 35.7pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 35.7pt"><I>The merged company is expected to receive approximate
gross proceeds from the private financing of $45.5 million, which will be used to advance the Chemomab pipeline</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 35.7pt">&nbsp;</P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; background-color: white">TEL-AVIV, Israel, March 15, 2021 (________NEWSWIRE)
-- Anchiano Therapeutics Ltd. (&ldquo;Anchiano&rdquo;; Nasdaq: ANCN) and <FONT STYLE="background-color: white"><U>Chemomab Ltd.
</U>(&ldquo;Chemomab&rdquo;), a clinical-stage biotech company focused on the discovery and development of innovative therapeutics
for fibrosis-related diseases with high unmet need, today announced that Anchiano&rsquo;s shareholders voted to approve the contemplated
merger with <U>Chemomab</U> and the issuance of Anchiano American Depositary Shares (ADSs) in connection with the pending merger.
Shareholders also approved a reverse split of Anchiano&rsquo;s common shares.</FONT></P>

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

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; background-color: white">The companies also announced the pricing
of a private investment of $45.5 million into the combined company led by new and certain existing investors of Chemomab including
Cormorant Asset Management, OrbiMed, Peter Thiel, Christian Angermayer&rsquo;s Presight Capital and Apeiron Investment Group, as
well as other healthcare-focused and institutional investors. The private financing consists of the sale of 41,908,232 ADSs <FONT STYLE="background-color: white">and
</FONT>4,190,819 <FONT STYLE="background-color: white">accompanying warrants at a purchase price of $1.08443 (pre reverse split
to take effect immediately prior to the closing of the merger). The warrants will have an exercise price of $1.08443 and will expire
five years from the date of issuance.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; background-color: white">Oppenheimer and Co. Inc. served as
the sole placement agent for the financing.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; background-color: white"><FONT STYLE="background-color: white"><B>About
Anchiano</B></FONT></P>

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

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; background-color: white"><FONT STYLE="background-color: white">Anchiano
is a biopharmaceutical company dedicated to the discovery, development, and commercialization of novel targeted therapies to treat
cancer in areas of significant clinical need located in Cambridge, MA. Anchiano is developing small-molecule pan-mutant-RAS inhibitors
and inhibitors of PDE10 and the b-catenin pathway. For more information about Anchiano, please visit&nbsp;www.anchiano.com.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; background-color: white"><B>About <FONT STYLE="background-color: white">Chemomab</FONT>
Ltd.</B></P>

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

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; background-color: white"><FONT STYLE="background-color: white">Chemomab
</FONT>is a clinical-stage biotech company focusing on the discovery and development of innovative therapeutics for fibrosis-related
diseases with high unmet need. Based on the unique and pivotal role of the soluble protein <U>CCL24</U> in promoting fibrosis
and inflammation, Chemomab developed <U>CM-101</U>, a monoclonal antibody designed to bind and block CCL24 activity. CM-101 has
potential to treat multiple severe and life-threatening inflammatory and fibrotic diseases and is currently undergoing clinical
development for the orphan diseases, Primary Sclerosing Cholangitis (PSC) and Systemic Sclerosis (SSc). Chemomab is advancing
in parallel three Phase 2 clinical trials for CM-101 in fibrotic indications and expecting to report data during 2021-2022. Chemomab
is supported by leading healthcare-focused investors including OrbiMed and Peter Thiel. For more information about Chemomab, please
visit&nbsp;<B><U>www.chemomab.com</U></B>.</P>




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

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

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

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: left; font: bold 10pt Times New Roman, Times, Serif"><IMG SRC="tm219877d1_ex99-1img01.jpg" ALT=""></TD>
    <TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: right"><IMG SRC="tm219877d1_ex99-1img02.jpg" ALT="">&nbsp;</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; background-color: white"><B>Forward Looking Statements</B></P>

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

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; background-color: white">This press release contains &quot;forward-looking
statements&quot; within the meaning of the Private Securities Litigation Reform Act. These forward-looking statements include,
among other things, statements regarding the timing and completion of the private placement and proposed merger; Chemomab having
sufficient resources to advance its pipeline; and other statements that are not historical fact.&nbsp;Any statements contained
in this communication that are not statements of historical fact may be deemed to be forward-looking statements. These forward-looking
statements are based upon Anchiano&rsquo;s and Chemomab&rsquo;s current expectations. Forward-looking statements involve risks
and uncertainties.</P>

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

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; background-color: white">Because such statements deal with future
events and are based on Anchiano&rsquo;s and Chemomab&rsquo;s current expectations, they are subject to various risks and uncertainties
and actual results, performance or achievements of Anchiano or the combined company could differ materially from those described
in or implied by the statements in this press release, including: the risk that the conditions to the closing of the proposed merger
and private placement are not satisfied; uncertainties as to the timing of the consummation of the proposed merger and private
placement and the ability of each of Anchiano and Chemomab to consummate the proposed merger; the outcome of any legal proceedings
that have been or may be instituted against the parties and others related to the merger agreement; the combined company&rsquo;s
listing on the Nasdaq Stock Market; the uncertain and time-consuming regulatory approval process; risks related to the combined
company&rsquo;s ability to correctly manage its operating expenses and its expenses; risks related to the market price of Anchiano&rsquo;s
ADSs relative to the exchange ratio; unexpected costs, charges or expenses resulting from the transaction; potential adverse reactions
or changes to business relationships resulting from the announcement or completion of the proposed merger transaction; combined
company&rsquo;s plans to develop and commercialize its product candidates, including CM-101 and RAS; the timing of initiation of
combined company&rsquo;s planned clinical trials; the timing of the availability of data from combined company&rsquo;s clinical
trials; the timing of any planned investigational new drug application or new drug application; combined company&rsquo;s plans
to research, develop and commercialize its current and future product candidates; the clinical utility, potential benefits and
market acceptance of combined company&rsquo;s product candidates; combined company&rsquo;s commercialization, marketing and manufacturing
capabilities and strategy; the combined company&rsquo;s ability to protect its intellectual property position; the impact of public
health epidemics affecting countries or regions in which the parties and others related to the merger agreement have operations
or transact business, such as the COVID-19 pandemic; and the requirement for additional capital to continue to advance these product
candidates, which may not be available on favorable terms or at all. Additional risks and uncertainties relating to Anchiano and
its business can be found under the caption &ldquo;Risk Factors&rdquo; and elsewhere in Anchiano&rsquo;s filings and reports with
the SEC, including in the Anchiano&rsquo;s Annual Report on Form 10-K for the year ended December 31, 2020 filed with the SEC on
March 9, 2021 and its other subsequent filings with the SEC. Anchiano expressly disclaims any obligation or undertaking to release
publicly any updates or revisions to any forward-looking statements contained herein to reflect any change in Anchiano&rsquo;s
and Chemomab&rsquo;s expectations with regard thereto or any change in events, conditions or circumstances on which any such statements
are based.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; background-color: white"><FONT STYLE="background-color: white"><B>Anchiano
Therapeutics Ltd.</B>&nbsp;<B>Contact:</B><BR>
Investor Relations<BR>
Phone: 857-259-4622<BR>
info@anchiano.com</FONT></P>




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

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

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

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: left; font: bold 10pt Times New Roman, Times, Serif"><IMG SRC="tm219877d1_ex99-1img01.jpg" ALT=""></TD>
    <TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: right"><IMG SRC="tm219877d1_ex99-1img02.jpg" ALT="">&nbsp;</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; background-color: white"><B>Chemomab Ltd. Contact:</B><BR>
Sharon Elkobi<BR>
VP, Business Development<BR>
Phone: +972773310156<BR>
<B><U>ir@chemomab.com</U></B></P>

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



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

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<DOCUMENT>
<TYPE>EX-99.2
<SEQUENCE>8
<FILENAME>tm219877d1_ex99-2.htm
<DESCRIPTION>EXHIBIT 99.2
<TEXT>
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<BODY STYLE="font: 10pt Times New Roman, Times, Serif">

<P STYLE="text-align: justify; margin: 0">&nbsp;</P>

<P STYLE="margin: 0; text-align: right"><B>Exhibit 99.2</B></P>

<P STYLE="text-align: justify; margin: 0">&nbsp;</P>

<P STYLE="text-align: justify; margin: 0"><IMG SRC="tm219877d1_ex99-2img01.jpg" ALT="">&nbsp;</P>

<P STYLE="text-align: justify; margin: 0">&nbsp;</P>

<P STYLE="text-align: justify; margin: 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center; background-color: white"><B><I>Chemomab
Completes Merger with Anchiano Therapeutics</I></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-top: 0pt; margin-bottom: 0pt; text-align: center"><I>Shares of Chemomab Therapeutics to commence
trading on the Nasdaq Capital Market on March 17, 2021 under the new ticker symbol &ldquo;CMMB&rdquo;</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><I>&nbsp;</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><I>Combined company will focus on advancing
Chemomab&rsquo;s CM-101 currently in Phase 2 for rare fibrotic indications</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><I>&nbsp;</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><I>Company to receive gross proceeds of
$45.5 million from a PIPE financing, led by healthcare-focused investors Cormorant Asset Management, OrbiMed, Peter Thiel and Christian
Angermayer&rsquo;s Presight Capital and Apeiron Investment Group</I></P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">TEL-AVIV, Israel, March. 16, 2021 (________NEWSWIRE) -- <U>Chemomab
Ltd</U>., a clinical-stage biotech company focused on the discovery and development of innovative therapeutics for fibrosis-related
diseases with high unmet need, today announced the completion of its merger with Anchiano Therapeutics Ltd. (&quot;Anchiano&quot;).</P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">The combined company has changed its name to Chemomab Therapeutics
Ltd. and will trade on the Nasdaq Capital Market under the symbol &ldquo;CMMB&rdquo; beginning on March 17, 2021.</P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><U>Chemomab Therapeutics</U> (&ldquo;Chemomab&rdquo;) has secured
gross proceeds of $45.5 million from the sale of American Depositary Shares (ADSs) and warrants through a private investment in
public equity (PIPE) financing. The financing is being led by new and certain existing investors of Chemomab, including Cormorant
Asset Management, OrbiMed, Peter Thiel and Christian Angermayer&rsquo;s Presight Capital and Apeiron Investment Group.</P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; background-color: white">&nbsp;</P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; background-color: white">Chemomab expects
to use net proceeds from this private placement to advance in parallel three Phase 2 clinical trials for its lead product, CM-101,
a novel antibody for treating rare fibrotic conditions, as well as to further develop its earlier-stage pipeline. In February,
Chemomab announced that it had begun enrolment of patients in the <U>SPRING study</U>, a Phase 2a trial of CM-101 for patients
suffering from primary sclerosing cholangitis (PSC). Chemomab plans to begin enrolment of patients in a Phase 2 trial for systemic
sclerosis (SSc) later in the year. PSC and SSc are inflammatory-fibrotic diseases affecting multiple organs such as the liver
in PSC and skin and lungs in SSc. Both indications have a significant unmet need, with patients suffering from debilitating symptoms
and no current FDA-approved disease modifying treatment options. Chemomab is also advancing CM-101 into a Phase 2a clinical trial
to test CM-101 subcutaneous formulation and its anti-fibrotic effect in patients diagnosed with non-alcoholic steatohepatitis.
Clinical readouts are expected during 2021-2022. In addition, Chemomab also announced today that it has entered into a binding
agreement with Kestrel Therapeutics Inc. under which it will sell Anchiano&rsquo;s preclinical RAS programs to Kestrel for $1
million.</P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin: 0pt 0; background-color: white"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white"><IMG SRC="tm219877d1_ex99-2img01.jpg" ALT="">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white">&nbsp;</P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; background-color: white">&ldquo;We are excited by Chemomab&rsquo;s
continued progress and believe our becoming a publicly-traded company and financing from a group of outstanding investors will
position the combined company well to accelerate the advancement of our clinical programs as well as further develop our product
pipeline,&rdquo; said Dr. Adi Mor, chief executive officer and co-founder of Chemomab. &ldquo;We now have $55 million on our balance
sheet which provides sufficient cash through H2 2023 and all three of our potentially value-inflecting Phase 2 clinical read-outs,&rdquo;
she said.</P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin: 0pt 0; background-color: white">Commenting on the PIPE, Dr. Stephen
Squinto, chairman of Chemomab&rsquo;s board and executive partner at OrbiMed, stated, &ldquo;We are proud to support the exciting
innovations taking place at Chemomab. Patients suffering from diseases such as PSC and SSc are in desperate need of disease-modifying
therapies, and we believe CM-101 has the therapeutic potential to address the underlying inflammatory and fibrotic pathways implicated
in both diseases.&rdquo;</P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin: 0pt 0; background-color: white">Anchiano&rsquo;s outgoing CEO, Mr.
Neil Cohen will join Chemomab&rsquo;s board of directors, which is led by chairman Dr. Stephen Squinto, OrbiMed executive partner
and one of the founders of Alexion. Other new board members include Dr. Alan Moses, previously global chief medical officer of
Novo Nordisk A/S, Dr. Claude Nicaise, who previously held senior roles at Alexion and Bristol Myers Squibb, Mr. Joel Maryles, previously
senior managing director at Citigroup and Dr. Nissim Darvish, venture partner at OrbiMed Israel.</P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin: 0pt 0; background-color: white"><B>About the Merger</B></P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin: 0pt 0; background-color: white">In connection with the merger, Chemomab
effected a 4:1 reverse split of its ordinary shares and increased the number of ordinary shares per ADS, following which each ADS
will be comprised of 20 ordinary shares, post reverse split. Following the merger and pre financing, Chemomab Ltd. shareholders
own approximately 90% of the combined company and pre-merger Anchiano shareholders owning approximately 10% of the combined company.</P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; background-color: white">&nbsp;</P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; background-color: white">Oppenheimer &amp; Co., Inc. served
as sole placement agent for the financing and financial advisor to Anchiano. Meitar law firm and Greenberg Traurig represented
Chemomab, and Cooley and Goldfarb Seligman represented Anchiano.</P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; background-color: white">&nbsp;</P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; background-color: white">The securities sold in this private
placement have not been registered under the Securities Act of 1933, as amended, and may not be resold in the U.S. except pursuant
to an effective registration statement or an applicable exemption from the registration requirements. Chemomab has agreed to file
a registration statement with the Securities and Exchange Commission registering the resale of the securities issued in this private
placement.</P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin: 0pt 0; background-color: white">This press
release shall not constitute an offer to sell or a solicitation of an offer to buy these securities, nor shall there be any
sale of these securities in any state or other jurisdiction in which such offer, solicitation or sale would be unlawful prior
to the registration or qualification under the securities laws of any such state or other jurisdiction.</P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin: 0pt 0; background-color: white"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white"><IMG SRC="tm219877d1_ex99-2img01.jpg" ALT="">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white"><B>About Chemomab Therapeutics Ltd.</B></P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin: 0pt 0; background-color: white"><FONT STYLE="background-color: white"><U>Chemomab
</U></FONT>is a clinical-stage biotech company focusing on the discovery and development of innovative therapeutics for fibrosis-related
diseases with high unmet need. Based on the unique and pivotal role of the soluble protein <U>CCL24</U> in promoting fibrosis
and inflammation, Chemomab developed CM-101, a monoclonal antibody designed to bind and block CCL24 activity. CM-101 has potential
to treat multiple severe and life-threatening inflammatory and fibrotic diseases and is currently undergoing clinical development
with primary focus for the orphan diseases, Primary Sclerosing Cholangitis (PSC) and Systemic Sclerosis (SSc). Chemomab is advancing
in parallel three Phase 2 clinical trials with CM-101 in fibrotic indications and expecting to report data during 2021-2022. For
more information on Chemomab, please visit&nbsp;<B>www.chemomab.com</B>.</P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin: 0pt 0; background-color: white"><B>Forward Looking Statements</B></P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin: 0pt 0; background-color: white">This press release contains &quot;forward-looking
statements&quot; within the meaning of the Private Securities Litigation Reform Act. These forward-looking statements include,
among other things, statements regarding the clinical development pathway for CM-101; the future operations of Chemomab and its
ability to successfully initiate and complete clinical trials and achieve regulatory milestones; the nature, strategy and focus
of Chemomab; the development and commercial potential and potential benefits of any product candidates of Chemomab; and that the
product candidates have the potential to address high unmet needs of patients with serious fibrosis-related diseases and conditions.
Any statements contained in this communication that are not statements of historical fact may be deemed to be forward-looking statements.
These forward-looking statements are based upon Chemomab&rsquo;s current expectations. Forward-looking statements involve risks
and uncertainties.</P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin: 0pt 0; background-color: white">Because such
statements deal with future events and are based on Chemomab&rsquo;s current expectations, they are subject to various risks
and uncertainties and actual results, performance or achievements of Chemomab could differ materially from those described in
or implied by the statements in this presentation, including: the uncertain and time-consuming regulatory approval process;
risks related to Chemomab&rsquo;s ability to correctly manage its operating expenses and its expenses; Chemomab&rsquo;s plans
to develop and commercialize its product candidates; the timing of initiation of Chemomab&rsquo;s planned clinical trials;
the timing of the availability of data from Chemomab&rsquo;s clinical trials; the timing of any planned investigational new
drug application or new drug application; Chemomab&rsquo;s plans to research, develop and commercialize its current and
future product candidates; the clinical utility, potential benefits and market acceptance of Chemomab&rsquo;s product
candidates; Chemomab&rsquo;s commercialization, marketing and manufacturing capabilities and strategy; Chemomab&rsquo;s
ability to protect its intellectual property position; and the requirement for additional capital to continue to advance
these product candidates, which may not be available on favorable terms or at all. Additional risks and uncertainties
relating to Chemomab&rsquo;s and its business can be found under the caption &ldquo;Risk Factors&rdquo; and elsewhere in
Chemomab&rsquo;s filings and reports with the SEC. Chemomab expressly disclaims any obligation or undertaking to release
publicly any updates or revisions to any forward-looking statements contained herein to reflect any change in
Chemomab&rsquo;s expectations with regard thereto or any change in events, conditions or circumstances on which any such
statements are based.</P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin: 0pt 0; background-color: white"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white"><IMG SRC="tm219877d1_ex99-2img01.jpg" ALT="">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white"><B>Contact:</B></P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin: 0pt 0; background-color: white"><B>Investor Relations:</B><BR>
Irina Koffler<BR>
LifeSci Advisors, LLC<BR>
Phone: +1-917-734-7387<BR>
<B><U>ir@chemomab.com</U></B></P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; background-color: white"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin: 0pt 0; background-color: white"><B>Chemomab Therapeutics:</B><BR>
Sharon Elkobi<BR>
VP, Business Development<BR>
Phone: +972773310156<BR>
<B><U>bd@chemomab.com</U></B></P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; background-color: white"><B>&nbsp;</B></P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; background-color: white"></P>

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<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>



<P STYLE="text-align: justify; margin: 0"></P>

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end
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
