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Freightos Ltd. – ‘F-1’ on 2/22/23 – ‘EX-10.1’

On:  Wednesday, 2/22/23, at 4:18pm ET   ·   Accession #:  1104659-23-24307   ·   File #:  333-269911

Previous ‘F-1’:  None   ·   Next & Latest:  ‘F-1/A’ on 4/14/23   ·   12 References:   

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  As Of               Filer                 Filing    For·On·As Docs:Size             Issuer                      Filing Agent

 2/22/23  Freightos Ltd.                    F-1                  236:35M                                    Toppan Merrill/FA

Registration Statement by a Foreign Issuer   —   Form F-1

Filing Table of Contents

Document/Exhibit                   Description                      Pages   Size 

 1: F-1         Form 1                                              HTML   7.97M 
 2: EX-3.1      Articles of Incorporation/Organization or Bylaws    HTML    282K 
 3: EX-4.7      Instrument Defining the Rights of Security Holders  HTML    152K 
 4: EX-5.1      Opinion of Counsel re: Legality                     HTML     76K 
 5: EX-5.2      Opinion of Counsel re: Legality                     HTML     63K 
 6: EX-10.1     Material Contract                                   HTML    126K 
 7: EX-10.2     Material Contract                                   HTML    251K 
 8: EX-10.6     Material Contract                                   HTML    125K 
 9: EX-21.1     Subsidiaries List                                   HTML     58K 
10: EX-23.1     Consent of Expert or Counsel                        HTML     56K 
11: EX-23.2     Consent of Expert or Counsel                        HTML     56K 
12: EX-23.3     Consent of Expert or Counsel                        HTML     56K 
13: EX-23.4     Consent of Expert or Counsel                        HTML     56K 
14: EX-FILING FEES  Filing Fees                                     HTML     80K 
20: R1          Document and Entity Information                     HTML     66K 
21: R2          Interim Consolidated Statements of Financial        HTML    138K 
                Position                                                         
22: R3          Interim Consolidated Statements of Profit or Loss   HTML    115K 
                and Other Comprehensive Loss                                     
23: R4          Interim Consolidated Statements of Changes in       HTML     95K 
                Equity                                                           
24: R5          Interim Consolidated Statements of Cash Flows       HTML    153K 
25: R6          General                                             HTML     94K 
26: R7          Significant Accounting Policies                     HTML    130K 
27: R8          Significant Events in the Reporting Period          HTML     61K 
28: R9          Business Combinations                               HTML    120K 
29: R10         Fair Value Measurement                              HTML    135K 
30: R11         Equity                                              HTML    132K 
31: R12         Share-Based Payment                                 HTML    192K 
32: R13         Commitments and Contingent Liabilities              HTML     59K 
33: R14         Operating Segments                                  HTML    258K 
34: R15         Loss Per Ordinary Share                             HTML    108K 
35: R16         Related Parties                                     HTML     96K 
36: R17         Events After the Reporting Date                     HTML     67K 
37: R18         Business Combinations (Tables)                      HTML    114K 
38: R19         Fair Value Measurement (Tables)                     HTML    182K 
39: R20         Equity (Tables)                                     HTML    111K 
40: R21         Share-Based Payment (Tables)                        HTML    190K 
41: R22         Operating Segments (Tables)                         HTML    247K 
42: R23         Loss Per Ordinary Share (Tables)                    HTML    107K 
43: R24         Related Parties (Tables)                            HTML     87K 
44: R25         General (Details)                                   HTML     82K 
45: R26         Significant Events in the Reporting Period          HTML     57K 
                (Details)                                                        
46: R27         BUSINESS COMBINATIONS - General (Details)           HTML     91K 
47: R28         BUSINESS COMBINATIONS - Fair value of the           HTML     99K 
                consideration transferred and fair value of the                  
                acquired assets and assumed liabilities and the                  
                resulting goodwill as of the acquisition date                    
                (Details)                                                        
48: R29         BUSINESS COMBINATIONS - Supplemental consolidated   HTML     67K 
                financial results of the Group on an unaudited pro               
                forma basis, as if the Clearit Business                          
                acquisition had been consummated on January 1,                   
                2021 (Details                                                    
49: R30         FAIR VALUE MEASUREMENT - Fair value measurement     HTML     78K 
                hierarchy for financial instruments assets and                   
                liabilities carried at fair value (Details)                      
50: R31         FAIR VALUE MEASUREMENT - Changes in level 3         HTML     74K 
                (Details)                                                        
51: R32         Equity (Details)                                    HTML     71K 
52: R33         Equity - Composition of share capital (Details)     HTML     83K 
53: R34         EQUITY - Movement in issued and outstanding share   HTML     66K 
                capital (Details)                                                
54: R35         SHARE-BASED PAYMENT - General (Details)             HTML     64K 
55: R36         SHARE-BASED PAYMENT - Assumptions (Details)         HTML     63K 
56: R37         SHARE-BASED PAYMENT - Share-based compensation      HTML     68K 
                expense was recorded in the statement of profit or               
                loss and other comprehensive loss (Details)                      
57: R38         SHARE-BASED PAYMENT - Changes in outstanding share  HTML     89K 
                options (Details)                                                
58: R39         SHARE-BASED PAYMENT - Additional information        HTML     67K 
                (Details)                                                        
59: R40         Commitments and Contingent Liabilities (Details)    HTML     59K 
60: R41         OPERATING SEGMENTS - General (Details)              HTML     58K 
61: R42         OPERATING SEGMENTS - Revenue and operating loss     HTML     80K 
                per segments (Details)                                           
62: R43         OPERATING SEGMENTS - Geographic information on      HTML     84K 
                revenue (Details)                                                
63: R44         Loss Per Ordinary Share (Details)                   HTML     85K 
64: R45         Related Parties (Details)                           HTML     64K 
65: R46         Related Parties - Compensation of key management    HTML     67K 
                personnel (Details)                                              
66: R47         Events After the Reporting Date (Details)           HTML     61K 
67: R48         Consolidated Statements of Financial Position       HTML    138K 
68: R49         Consolidated Statements of Profit or Loss and       HTML    118K 
                Other Comprehensive Loss                                         
69: R50         Consolidated Statements of Changes in Equity        HTML     57K 
70: R51         Consolidated Statements of Cash Flows               HTML    167K 
71: R52         General                                             HTML     94K 
72: R53         Significant Accounting Policies                     HTML    130K 
73: R54         Disclosure of New Standards in the Period Prior to  HTML     68K 
                Their Adoption                                                   
74: R55         Significant Accounting Judgments, Estimates and     HTML     70K 
                Assumptions Used in the Preparation of the                       
                Financial Statements                                             
75: R56         Business Combinations                               HTML    120K 
76: R57         Financial Instruments                               HTML    241K 
77: R58         Trade Receivables, Net                              HTML    158K 
78: R59         Other Receivables and Prepaid Expenses              HTML     70K 
79: R60         Property and Equipment, Net                         HTML    166K 
80: R61         Leases                                              HTML    103K 
81: R62         Goodwill and Intangible Assets, Net                 HTML    190K 
82: R63         Other Long-Term Assets                              HTML     69K 
83: R64         Accrued Expenses and Other Payables                 HTML     76K 
84: R65         Other Long Term Liabilities                         HTML     70K 
85: R66         Employee Benefit Liabilities, Net                   HTML    130K 
86: R67         Equity                                              HTML    132K 
87: R68         Share-Based Compensation                            HTML    192K 
88: R69         Contingent Liabilities                              HTML     59K 
89: R70         Operating Segments                                  HTML    258K 
90: R71         Selected Statements of Profit or Loss Data          HTML    147K 
91: R72         Taxes on Income (Imported)                          HTML    107K 
92: R73         Loss Per Ordinary Share                             HTML    108K 
93: R74         Related Parties                                     HTML     96K 
94: R75         Events After the Reporting Date                     HTML     67K 
95: R76         Significant Accounting Policies (Policies)          HTML    113K 
96: R77         Significant Accounting Policies (Tables)            HTML     62K 
97: R78         Business Combinations (Tables)                      HTML    114K 
98: R79         Financial Instruments (Tables)                      HTML    291K 
99: R80         Trade Receivables, Net (Tables)                     HTML    161K 
100: R81         Other Receivables and Prepaid Expenses (Tables)     HTML     69K  
101: R82         Property and Equipment, Net (Tables)                HTML    166K  
102: R83         Leases (Tables)                                     HTML    103K  
103: R84         Goodwill and Intangible Assets, Net (Tables)        HTML    186K  
104: R85         Other Long-Term Assets (Tables)                     HTML     69K  
105: R86         Accrued Expenses and Other Payables (Tables)        HTML     75K  
106: R87         Other Long Term Liabilities (Tables)                HTML     69K  
107: R88         Employee Benefit Liabilities, Net (Tables)          HTML    128K  
108: R89         Equity (Tables) (Imported)                          HTML    111K  
109: R90         Share-Based Compensation (Tables)                   HTML    190K  
110: R91         Operating Segments (Tables)                         HTML    247K  
111: R92         Selected Statements of Profit or Loss Data          HTML    151K  
                (Tables) (Imported)                                              
112: R93         Taxes on Income (Tables)                            HTML    103K  
113: R94         Loss Per Ordinary Share (Tables)                    HTML    107K  
114: R95         Related Parties (Tables)                            HTML     87K  
115: R96         General (Details)                                   HTML     82K  
116: R97         SIGNIFICANT ACCOUNTING POLICIES - Property and      HTML     65K  
                equipment (Details)                                              
117: R98         SIGNIFICANT ACCOUNTING POLICIES - Leases (Details)  HTML     61K  
118: R99         SIGNIFICANT ACCOUNTING POLICIES - Impairment of     HTML     58K  
                non-financial assets (Details)                                   
119: R100        SIGNIFICANT ACCOUNTING POLICIES - Employee benefit  HTML     58K  
                liabilities (Details)                                            
120: R101        SIGNIFICANT ACCOUNTING POLICIES - Share-based       HTML     58K  
                payment transactions (Details)                                   
121: R102        BUSINESS COMBINATIONS - General (Details)           HTML     77K  
122: R103        BUSINESS COMBINATIONS - Fair value of the           HTML     91K  
                consideration transferred and fair value of the                  
                acquired assets and assumed liabilities and the                  
                resulting goodwill as of the acquisition date                    
                (Details)                                                        
123: R104        BUSINESS COMBINATIONS - supplemental consolidated   HTML     62K  
                financial results on an unaudited pro forma basis,               
                as if the 7LFreight acquisition had been                         
                consummated on January 1, 2020 (Details)                         
124: R105        FINANCIAL INSTRUMENTS - Foreign currency risk       HTML     60K  
                (Details)                                                        
125: R106        FINANCIAL INSTRUMENTS - Liquidity risk (Details)    HTML     87K  
126: R107        FINANCIAL INSTRUMENTS - Changes in liabilities      HTML     83K  
                arising from financing activities (Details)                      
127: R108        FINANCIAL INSTRUMENTS - Fair value measurement      HTML     78K  
                hierarchy for financial instruments assets and                   
                liabilities carried at fair value (Details)                      
128: R109        Trade Receivables, Net (Details)                    HTML     63K  
129: R110        Trade Receivables, Net - Movement in allowance for  HTML     69K  
                doubtful accounts (Details)                                      
130: R111        TRADE RECEIVABLES, NET - Credit risk exposure       HTML     83K  
                (Details)                                                        
131: R112        Other Receivables and Prepaid Expenses (Details)    HTML     64K  
132: R113        Property and Equipment, Net (Details)               HTML     94K  
133: R114        Leases (Details)                                    HTML     85K  
134: R115        Goodwill and Intangible Assets, Net (Details)       HTML    121K  
135: R116        Other Long-Term Assets (Details)                    HTML     61K  
136: R117        Accrued Expenses and Other Payables (Details)       HTML     70K  
137: R118        Other Long Term Liabilities (Details)               HTML     66K  
138: R119        Employee Benefit Liabilities, Net (Details)         HTML     58K  
139: R120        Employee Benefit Liabilities, Net - Changes in the  HTML     83K  
                defined benefit obligation and fair value of plan                
                assets (Details)                                                 
140: R121        EMPLOYEE BENEFIT LIABILITIES, NET - Principal       HTML     67K  
                assumptions underlying the defined benefit plan                  
                (Details)                                                        
141: R122        Equity (Details)                                    HTML    115K  
142: R123        Equity - Composition of share capital (Details)     HTML     74K  
143: R124        EQUITY - Movement in issued and outstanding share   HTML     66K  
                capital (Details)                                                
144: R125        SHARE-BASED COMPENSATION - General (Details)        HTML     64K  
145: R126        SHARE-BASED COMPENSATION - Assumptions (Details)    HTML     63K  
146: R127        SHARE-BASED COMPENSATION - Share-based              HTML     68K  
                compensation expense was recorded in the statement               
                of profit or loss and other comprehensive loss                   
                (Details)                                                        
147: R128        SHARE-BASED COMPENSATION - Changes in outstanding   HTML     89K  
                share options (Details)                                          
148: R129        SHARE-BASED COMPENSATION - Additional information   HTML     67K  
                (Details)                                                        
149: R130        Contingent Liabilities (Details)                    HTML     59K  
150: R131        OPERATING SEGMENTS - General (Details)              HTML     58K  
151: R132        OPERATING SEGMENTS - Revenue and operating loss     HTML     85K  
                per segments (Details)                                           
152: R133        OPERATING SEGMENTS - Geographic information on      HTML     84K  
                revenue (Details)                                                
153: R134        Selected Statements of Profit or Loss Data          HTML    116K  
                (Details)                                                        
154: R135        TAXES ON INCOME - Tax rates (Details)               HTML     63K  
155: R136        TAXES ON INCOME - Carryforward losses for tax       HTML     72K  
                purposses (Details)                                              
156: R137        TAXES ON INCOME - Deferred income taxes (Details)   HTML     70K  
157: R138        TAXES ON INCOME - Taxes on income (Tax Benefit)     HTML     67K  
                Included in Profit or Loss (Details)                             
158: R139        Loss Per Ordinary Share (Details)                   HTML     82K  
159: R140        Related Parties (Details)                           HTML     64K  
160: R141        Related Parties - Compensation of key management    HTML     67K  
                personnel (Details)                                              
161: R142        Events After the Reporting Date (Details)           HTML     85K  
162: R143        Condensed Balance Sheets                            HTML    134K  
163: R144        Condensed Balance Sheets (Parentheticals)           HTML     75K  
164: R145        Unaudited Condensed Statements of Operations        HTML    107K  
165: R146        Unaudited Condensed Statements of Operations        HTML     68K  
                (Parentheticals)                                                 
166: R147        Unaudited Condensed Statements of Changes in        HTML    106K  
                Shareholders' (Deficit) Equity                                   
167: R148        Unaudited Condensed Statements of Cash Flows        HTML    118K  
168: R149        Organization and Business Operation                 HTML     93K  
169: R150        Restatement of Previously Issued Financial          HTML    140K  
                Statements                                                       
170: R151        Significant Accounting Policies                     HTML    206K  
171: R152        Initial Public Offering                             HTML     93K  
172: R153        Private Placement                                   HTML     61K  
173: R154        Related Party Transactions                          HTML     81K  
174: R155        Commitments and Contingencies                       HTML    130K  
175: R156        Shareholders' (Deficit) Equity                      HTML    104K  
176: R157        Fair Value Measurements                             HTML    183K  
177: R158        Subsequent Events                                   HTML     60K  
178: R159        Accounting Policies, by Policy (Policies)           HTML    236K  
179: R160        Restatement of Previously Issued Financial          HTML    139K  
                Statements (Tables)                                              
180: R161        Significant Accounting Policies (Tables)            HTML    170K  
181: R162        Initial Public Offering (Tables)                    HTML     86K  
182: R163        Shareholders' (Deficit) Equity (Tables)             HTML     81K  
183: R164        Fair Value Measurements (Tables)                    HTML    184K  
184: R165        Organization and Business Operation (Details)       HTML    119K  
185: R166        Restatement of Previously Issued Financial          HTML    138K  
                Statements (Details) - Schedule of restatement on                
                the Company's financial statements                               
186: R167        Significant Accounting Policies (Details)           HTML     80K  
187: R168        Significant Accounting Policies (Details) -         HTML     77K  
                Schedule of redeemable ordinary shares and                       
                non-redeemable ordinary shares                                   
188: R169        Significant Accounting Policies (Details) -         HTML     69K  
                Schedule of redeemable ordinary shares and                       
                non-redeemable ordinary shares (Parentheticals)                  
189: R170        Initial Public Offering (Details)                   HTML     93K  
190: R171        Initial Public Offering (Details) - Schedule of     HTML     72K  
                ordinary shares reflected on the balance sheet                   
191: R172        Private Placement (Details)                         HTML     74K  
192: R173        Related Party Transactions (Details)                HTML    150K  
193: R174        Commitments and Contingencies (Details)             HTML    155K  
194: R175        Shareholders' (Deficit) Equity (Details)            HTML    110K  
195: R176        Shareholders' (Deficit) Equity (Details) -          HTML     73K  
                Schedule of key inputs into public warrants                      
196: R177        Fair Value Measurements (Details) - Schedule of     HTML     70K  
                fair value hierarchy of the valuation inputs                     
197: R178        Fair Value Measurements (Details) - Schedule of     HTML     71K  
                black scholes model for the over-allotment                       
                liability                                                        
198: R179        Fair Value Measurements (Details) - Schedule of     HTML     63K  
                changes in the fair value of the Level 3                         
                over-allotment liability                                         
199: R180        Balance Sheets                                      HTML    142K  
200: R181        Balance Sheets(Parentheticals)                      HTML     75K  
201: R182        Statements of Operations                            HTML    119K  
202: R183        Statements of Changes in Shareholders' Equity       HTML    107K  
                (Deficit)                                                        
203: R184        Statements of Cash Flows                            HTML    134K  
204: R185        Organization and Business Operation                 HTML     93K  
205: R186        Significant Accounting Policies                     HTML    206K  
206: R187        Initial Public Offering                             HTML     93K  
207: R188        Private Placement                                   HTML     61K  
208: R189        Related Party Transactions                          HTML     81K  
209: R190        Commitments and Contingencies                       HTML    130K  
210: R191        Shareholders' (Deficit) Equity                      HTML    104K  
211: R192        Fair Value Measurements                             HTML    185K  
212: R193        Subsequent Events                                   HTML     60K  
213: R194        Accounting Policies, by Policy (Policies)           HTML    236K  
214: R195        Significant Accounting Policies (Tables)            HTML    170K  
215: R196        Initial Public Offering (Tables)                    HTML     86K  
216: R197        Shareholders' (Deficit) Equity (Tables)             HTML     81K  
217: R198        Fair Value Measurements (Tables)                    HTML    184K  
218: R199        Organization and Business Operation (Details)       HTML    119K  
219: R200        Significant Accounting Policies (Details) -         HTML     91K  
                Schedule of redeemable ordinary shares and                       
                non-redeemable ordinary shares                                   
220: R201        Significant Accounting Policies (Details)           HTML     85K  
221: R202        Initial Public Offering (Details)                   HTML     93K  
222: R203        Initial Public Offering (Details) - Schedule of     HTML     71K  
                ordinary shares reflected on the balance sheet                   
223: R204        Private Placement (Details)                         HTML     74K  
224: R205        Related Party Transactions (Details)                HTML    163K  
225: R206        Commitments and Contingencies (Details)             HTML    153K  
226: R207        Shareholders' (Deficit) Equity (Details)            HTML    119K  
227: R208        Shareholders' (Deficit) Equity (Details) -          HTML     73K  
                Schedule of key inputs into public warrants                      
228: R209        Fair Value Measurements (Details) - Schedule of     HTML     66K  
                fair value hierarchy of the valuation inputs                     
229: R210        Fair Value Measurements (Details) - Schedule of     HTML     71K  
                black scholes model for the over-allotment                       
                liability                                                        
230: R211        Fair Value Measurements (Details) - Schedule of     HTML     65K  
                changes in the fair value of the Level 3                         
                over-allotment liability                                         
231: R212        Subsequent Events (Details)                         HTML     59K  
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‘EX-10.1’   —   Material Contract


This Exhibit is an HTML Document rendered as filed.  [ Alternative Formats ]



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Exhibit 10.1

TRADEOS LTD.

THE 2012 GLOBAL INCENTIVE OPTION SCHEME


EXHIBIT I

DEFINITIONS

For purposes of the Tradeos Ltd. 2012 Global Incentive Option Scheme and related documents, including without limited, the Grant Notification Letter, the following definitions shall apply:

(a)“Board” - the Board of Directors of the Company.

(b)Cause”any of the following:

(i)

conviction of any felony involving moral turpitude or affecting the Company or any of its affiliates;

(ii)

any refusal to carry out a reasonable directive of the chief executive officer, the Board or the Grantee’s direct supervisor, which involves the business of the Company or any of its affiliates and was capable of being lawfully performed;

(iii)

embezzlement of funds of the Company or any of its affiliates;

(iv)

any breach of the Grantee’s fiduciary duties or duties of care to the Company or any of its affiliates; including without limitation disclosure of confidential information of the Company or any of its affiliates;

(v)

any conduct (other than conduct in good faith), including without limitation, any act or omission, reasonably determined by the Board to be materially detrimental to the Company or any of its affiliates; and/or

(vi)

if and as such term is or may be defined under the Grantee’s employment agreement, service agreement or any other engagement agreement with the Company or any of its affiliates; and/or

(vii)

should circumstances arise as a result of which the Grantees’ employment with the Company and/or any of its affiliates is or may be terminated without severance pay.

For the avoidance of any doubt, it is hereby clarified that in any event of conflict between the definition of the term “Cause” in this Scheme and the definition of the term “Cause” in a certain employment agreement, the definition in this Scheme shall prevail in connection with the Option, with the Grant Notification Letter and with this Scheme.

(c)“Chairman” - the chairman of the Committee.

(d)

“Committee” - a share option compensation committee appointed by the Board, which shall consist of no fewer than two members of the Board.

(e)“Company” – Tradeos Ltd., a Hong Kong company.

(f)

“Date of Grant” - the date of grant of an Option, as determined by the Board or the Committee and set forth in the Grantee’s Grant Notification Letter.

(g)“Employee” - a person who is employed by the Company or any affiliate.

(h)

“Expiration Date” - the date upon which an Option shall expire, as set forth in Section 7.2 of the Scheme.

(i)“Fair Market Value” - as of any date, the value of a Share determined as follows:

2


(i)

If the Shares are listed on any established Share exchange or a national market system, including without limitation the Tel-Aviv Stock Exchange, the NASDAQ National Market system, or the NASDAQ SmallCap Market of the NASDAQ Share Market, the Fair Market Value shall be the closing sales price for such Shares (or the closing bid, if no sales were reported), as quoted on such exchange or system for the last market trading day prior to the day of determination, as reported in the Wall Street Journal, or such other source as the Board deems reliable;

(ii)

If the Shares are regularly quoted by a recognized securities dealer but selling prices are not reported, the Fair Market Value shall be the mean between the high bid and low asked prices for the Shares on the last market trading day prior to the day of determination, or;

(iii)

In the absence of an established market for the Shares, the Fair Market Value thereof shall be determined in good faith by the Board.

(j)

“Grantee” - a person who receives or holds an Option under the Scheme.

(k)

“Grant Notification Letter” - a document to be signed between the Company and a Grantee that sets out, and informs the Grantee with respect to, the terms and conditions of the grant of an Option.

(l)

“IPO” - the initial public offering of the Company’s shares.

(m)

“Non-Employee” - a director, consultant, advisor, service provider of the Company or any affiliate, or any other person who is not an Employee.

(n)

“Option” - an option to purchase one or more Shares of the Company pursuant to the Scheme.

(o)

“Purchase Price” - the price for each Share subject to an Option.

(p)

“Scheme” - this Tradeos Ltd. 2012 Global Incentive Option Scheme.

(q)

“Share” - the ordinary shares, HK$0.10 par value each, of the Company.

(r)

“Successor Company” - any entity into which the Company is merged, as a result of which transaction the Company is not the surviving entity, or an entity which acquires the Company.

(s)

“Transaction”

(i)

merger, acquisition or reorganization of the Company with one or more other entities in which the Company is not the surviving entity;

(ii)

a sale of all or substantially all of the assets of the Company.

(t)

“Trustee” - any entity or person appointed by the Company to serve as a trustee

(u)

Vested Option” - any Option which has already been vested according to the Vesting Dates.

(v)

“Vesting Dates” - as determined by the Board or by the Committee, the date as of which the Grantee shall be entitled to exercise the Options or part of the Options, as set forth in Section 8 of the Scheme and in the Grantee’s Grant Notification Letter.

3


THE SCHEME

This scheme, as amended from time to time, shall be known as the “Tradeos Ltd. 2012 Global Incentive Option Scheme”. Capitalized but undefined terms used herein shall have the meanings ascribed to them in Exhibit I attached hereto.

1.PURPOSE OF THE SCHEME

The Scheme is intended to provide an incentive to retain, in the employ of the Company and its affiliates, persons of training, experience, and ability, to attract new employees, directors, consultants, service providers and any other entity which the Board shall decide their services are considered valuable to the Company, to encourage the sense of proprietorship of such persons, and to stimulate the active interest of such persons in the development and financial success of the Company by providing them with opportunities to purchase shares in the Company, pursuant to the Scheme.

Incentives under the Scheme shall only be issued to Grantees subject to the applicable law in their respective country of residence for tax purposes or any other purposes, as the case may be.

2.ADMINISTRATION OF THE SCHEME

2.1

The Board shall have the power to administer the Scheme either directly or upon the recommendation of the Committee, all as provided by applicable law and in the Company’s Articles of Association. Notwithstanding the above, the Board shall automatically have residual authority if no Committee shall be constituted or if such Committee shall cease to operate for any reason.

2.2

The Committee shall select one of its members as its Chairman and shall hold its meetings at such times and places as the Chairman shall determine. The Committee shall keep records of its meetings and shall make such rules and regulations for the conduct of its business as it shall deem advisable.

2.3

The Board and/or the Committee, if applicable subject to the approval of the Board, to the extent required under applicable law (and subject further to applicable laws) shall have the full power and authority to:

(i)designate participants;

(ii)determine the terms and provisions of the respective Grant Notification Letters, including, but not limited to, the number of Options to be granted to each Grantee, the number of Shares to be covered by each Option, provisions concerning the time and the extent to which the Options may be exercised and the nature and duration of restrictions as to the transferability or restrictions constituting substantial risk of forfeiture and to cancel or suspend awards, as necessary;

(iii)determine the Fair Market Value of the Shares covered by each Option;

(iv)designate the type of Options;

4


(v)alter any restrictions and conditions of any Options or Shares subject to any Options;

(vi)interpret the provisions and supervise the administration of the Scheme;

(vii)accelerate the right of a Grantee to exercise in whole or in part, any previously granted Option;

(viii)determine the Purchase Price of the Option;

(ix)prescribe, amend and rescind rules and regulations relating to the Scheme; and

(x)make all other determinations deemed necessary or advisable for the administration of the Scheme.

2.4

The Board or the Committee shall have the authority to grant, at its discretion, to the holder of an outstanding Option, in exchange for the surrender and cancellation of such Option, a new Option having a purchase price equal to, lower than or higher than the Purchase Price of the original Option so surrendered and canceled and containing such other terms and conditions, or to change the Purchase Price as the Board or the Committee may prescribe in accordance with the provisions of the Scheme (subject to consulting the Company’s auditors).

2.5

Subject to the Company’s Articles of Association, all decisions and selections made by the Board or the Committee pursuant to the provisions of the Scheme shall be made by a majority of its members except that no member of the Board or the Committee shall vote on, or be counted for quorum purposes, with respect to any proposed action of the Board or the Committee relating to any Option to be granted to that member. Any decision reduced to writing shall be executed in accordance with the provisions of the Company’s Articles of Association, as the same may be in effect from time to time.

2.6

The interpretation and construction by the Committee of any provision of the Scheme or of any Grant Notification Letter thereunder shall be final and conclusive unless otherwise determined by the Board.

2.7

Subject to the Company’s Articles of Association and the Company’s decision, and to all approvals legally required, including, but not limited to the provisions of any applicable law, each member of the Board or the Committee shall be indemnified and held harmless by the Company against any cost or expense (including counsel fees) reasonably incurred by him, or any liability (including any sum paid in settlement of a claim with the approval of the Company) arising out of any act or omission to act in connection with the Scheme unless arising out of such member's own fraud or bad faith, to the extent permitted by applicable law. Such indemnification shall be in addition to any rights of indemnification the member may have as a director or otherwise under the Company's Articles of Association, any agreement, any vote of shareholders or disinterested directors, insurance policy or otherwise.

3.DESIGNATION OF PARTICIPANTS

The persons eligible for participation in the Scheme as Grantees shall include any Employees and/or Non-Employees of the Company or of any affiliate.

The grant of an Option hereunder shall neither entitle the Grantee to participate nor disqualify the Grantee from participating in, any other grant of Options pursuant to the Scheme or any other option or share plan of the Company or any of its affiliates.

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4.SHARES RESERVED FOR THE SCHEME; RESTRICTION THEREON

4.1

The Company has reserved 200,000 authorized but unissued Shares, for the purposes of the Scheme and for the purposes of any other share option plans which may be adopted by the Company in the future, subject to adjustment as set forth in Section 6 below. Any Shares which remain unissued and which are not subject to the outstanding Options at the termination of the Scheme shall cease to be reserved for the purpose of the Scheme, but until termination of the Scheme the Company shall at all times reserve sufficient number of Shares to meet the requirements of the Scheme. Should any Option for any reason expire or be canceled prior to its exercise or relinquishment in full, the Shares subject to such Option may again be subjected to an Option under the Scheme or under the Company’s other share option plans.

4.2

Each Option granted pursuant to the Scheme, shall be evidenced by a written Grant Notification Letter between the Company and the Grantee, in such form as the Board or the Committee shall from time to time approve. Each Grant Notification Letter shall state, among other matters, the number of Shares to which the Option relates, the type of Option granted thereunder, the Vesting Dates, the Purchase Price per share, the Expiration Date and such other terms and conditions as the Committee or the Board in its discretion may prescribe, provided that they are consistent with this Scheme.

4.3

Until the consummation of an IPO, such Shares shall be voted by an irrevocable proxy (the: “Proxy”) pursuant to the direction of the Board, such Proxy to be assigned to the person or persons designated by the Board. Such person or persons designated by the Board shall be indemnified and held harmless by the Company against any cost or expense (including counsel fees) reasonably incurred by him/her, or any liability (including any sum paid in settlement of a claim with the approval of the Company) arising out of any act or omission to act in connection with the voting of such Proxy unless arising out of such member's own fraud or bad faith, to the extent permitted by applicable law. Such indemnification shall be in addition to any rights of indemnification the person(s) may have as a director or otherwise under the Company's Articles of Association, any agreement, any vote of shareholders or disinterested directors, insurance policy or otherwise.

5.PURCHASE PRICE

5.1

The Purchase Price of each Share subject to an Option shall be determined by the Committee in its sole and absolute discretion in accordance with applicable law, subject to any guidelines as may be determined by the Board from time to time. Each Grant Notification Letter will contain the Purchase Price determined for each Grantee.

5.2

Without derogating from the above and in addition thereto, the Purchase Price of each Share subject to an Option shall be payable upon the exercise of an Option in the following acceptable forms of payment:

(i)cash, check or wire transfer;

(ii)subject to prior approval of the Committee (after consulting the Company’s

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auditors), upon the consummation of a Transaction or IPO, cashless exercise may be permitted in which some options are surrendered in exchange for cashless exercise of other options, in such a ratio that the net profit to the Grantee is the same as if they had paid the exercise price in full;

(iii)

at the discretion of the Committee, any combination of the methods of payment permitted by any paragraph of this Section 5.2.

5.3

The Purchase Price shall be denominated in the currency of the primary economic environment of either the Company or the Grantee (that is the functional currency of the Company or the currency in which the Grantee is paid) as determined by the Company.

6.ADJUSTMENTS

Upon the occurrence of any of the following described events, Grantee's rights to purchase Shares under the Scheme shall be adjusted as hereafter provided:

6.1

In the event of a Transaction, the unexercised Options then outstanding under the Scheme shall be assumed or substituted for an appropriate number of shares of each class of shares or other securities of the Successor Company (or a parent or subsidiary of the Successor Company) as were distributed to the shareholders of the Company Shares, in connection and with respect to the Transaction. In the case of such assumption and/or substitution of Options, appropriate adjustments shall be made to the Purchase Price so as to reflect such action and all other terms and conditions of the Grant Notification Letters shall remain unchanged, including but not limited to the vesting schedule, all subject to the determination of the Committee or the Board, which determination shall be in their sole discretion and final. The Company shall notify the Grantee of the Transaction in such form and method as it deems applicable at least 7 days prior to the effective date of such Transaction.

6.2

Notwithstanding the above and subject to any applicable law, the Board or the Committee shall have full power and authority to determine that in certain Grant Notification Letters there shall be a clause instructing that, if in any such Transaction as described in Section 6.1 above, the Successor Company (or parent or subsidiary of the Successor Company) does not agree to assume or substitute for the Options as provided therein, the Vesting Dates shall be accelerated so that any unvested Option or any portion thereof shall be immediately vested as of the date which is 3 days prior to the effective date of the Transaction.

6.3

For the purposes of Section 6.1 above, an Option shall be considered assumed or substituted if, following the Transaction, the Option confers the right to purchase or receive, for each Share underlying an Option immediately prior to the Transaction, the consideration (whether shares, options, cash, or other securities or property) received in the Transaction by holders of Shares held on the effective date of the Transaction (and if such holders were offered a choice of consideration, the type of consideration chosen by the holders of a majority of the outstanding Shares); provided, however, that if such consideration received in the Transaction is not solely ordinary shares (or their equivalent) of the Successor Company or its parent or subsidiary, the Committee may,

7


with the consent of the Successor Company, provide for the consideration to be received upon the exercise of the Option to be solely ordinary shares (or their equivalent) of the Successor Company or its parent or subsidiary equal in Fair Market Value to the per Share consideration received by holders of a majority of the outstanding shares in the Transaction; and provided further that the Committee may determine, in its discretion, that in lieu of such assumption or substitution of Options for options of the Successor Company or its parent or subsidiary, such Options will be substituted for any other type of asset or property including cash which is fair under the circumstances.

6.4

The Board or the Committee shall have full power and authority to determine that in certain Grant Notification Letters there shall be a clause instructing that, if the Company is voluntarily liquidated or dissolved while unexercised Options remain outstanding under the Scheme, the Company shall immediately notify all unexercised Option holders of such liquidation, and the Option holders shall then have 7 days to exercise any unexercised Vested Option held by them at that time, in accordance with the exercise procedure set forth herein. Upon the expiration of such 7-day period, all remaining outstanding Options will terminate immediately.

6.5

If the outstanding shares of the Company shall at any time be changed or exchanged by declaration of a share dividend (bonus shares), distribution of subscription rights, share split, combination or exchange of shares, recapitalization, spin-off or any other like event by or of the Company, and as often as the same shall occur, then the number, class and kind of the Shares subject to the Scheme or subject to any Options therefor granted, and the Purchase Prices, shall be appropriately and equitably adjusted so as to maintain the proportionate number of Shares without changing the aggregate Purchase Price. Upon the happening of any of the foregoing, the class and aggregate number of Shares issuable pursuant to the Scheme (as set forth in Section 4 hereof), in respect of which Options have not yet been exercised, shall be appropriately adjusted, all as will be determined by the Board whose determination shall be final.

6.6

Notwithstanding anything to the contrary mentioned above, subject to this Section 6, the Grantee shall not be entitled to receive portion of shares, and the number of shares allocated to the Grantee pursuant to any adjustments made pursuant to this Section 6, shall be rounded as to nearest whole number of share and the provisions of this Scheme shall apply accordingly.

6.7

Anything herein to the contrary notwithstanding, if prior to the completion of the IPO, or a Transaction pursuant to which the Company shall be acquired by another person or entity, all or substantially all of the shares of the Company are to be sold, or in case of any other Transaction, all or substantially all of the shares of the Company are to be exchanged for securities of another Company, then each Grantee shall be obliged to sell or exchange, as the case may be, any Shares such Grantee purchased under the Scheme, and perform any action and/or execute any document necessary or desired in order to effectuate such Transaction, in accordance with the instructions issued by the Board in connection with the Transaction, whose determination shall be final. Anything else herein notwithstanding, the Bring Along provisions in the Company's Articles of Association or shareholders agreement as may be in effect from time to time are hereby incorporated herein by reference and shall, in accordance with their terms, bind the Grantees, and the Options held by them, as if they were shareholders and issued shares, respectively.

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6.8

In the event that the Company’s Shares shall be registered for trading in any public market, the Grantee acknowledges that Grantee’s rights to sell the Shares may be subject to certain limitations (including a lock-up period) as will be requested by the Company or its underwriters, and the Grantee unconditionally agrees and accepts any such limitations.

7TERM AND EXERCISE OF OPTIONS

7.1

Options shall be exercised by the Grantee by giving written notice to the Company and/or to any third party designated by the Company (the: “Representative”), in such form as defined in Appendix 1 which exercise shall be effective upon receipt of such notice by the Company and/or the Representative and the payment of the Purchase Price at the Company’s or the Representative’s principal office. The notice shall specify the number of Shares with respect to which the Option is being exercised.

7.2

Options, to the extent not previously exercised, shall terminate and expire forthwith upon the earlier of: (i) the date set forth in the Grant Notification Letter; and (ii) the expiration of any extended period in any of the events set forth in Section 7.5 below.

7.3

The Options may be exercised by the Grantee in whole at any time or in part from time to time, to the extent that the Options become vested and exercisable, prior to the Expiration Date, and provided that, subject to the provisions of Section 7.5 below, the Grantee is employed by or providing services to the Company or any of its affiliates, at all times during the period beginning with the granting of the Option and ending upon the date of exercise.

7.4

Subject to the provisions of Section 7.5 below, in the event of termination of Grantee’s employment or services, with the Company or any of its affiliates, all Options granted to such Grantee will immediately expire. A notice of termination of employment or service shall be deemed to constitute termination of employment or service. For the avoidance of doubt, in case of such termination of employment or service, the unvested portion of the Grantee’s Option shall not vest and shall not become exercisable and the Grantee shall have no claim against the Company and/or its affiliate that his/her Options were prevented from continuing to vest as of such termination. Notwithstanding anything to the contrary mentioned above, a Grantee shall not cease to be an Employee only due to the transfer of such Employee’s employment among the Company and its affiliates.

7.5

Notwithstanding anything to the contrary hereinabove and unless otherwise determined in the Grantee’s Grant Notification Letter, an Option may be exercised after the date of termination of Grantee's employment or service with the Company or any affiliates during an additional period of time beyond the date of such termination, but only with respect to the number of Vested Options at the time of such termination according to the Vesting Dates, if:

(i)

termination is without Cause, in which event any Vested Option still in force and unexpired may be exercised within a period of ninety (90) days after the date of such termination; In Spain, and any country where the Company may have to withhold

9


tax at the time of the exercise of options, the Company may require employees to exercise options no later than the day of their final salary payment.; or-

(ii)

termination is the result of death or disability of the Grantee, in which event any Vested Option still in force and unexpired may be exercised within a period of twelve (12) months after the date of such termination; or -

(iii)

prior to the date of such termination, the Committee shall authorize an extension of the terms of all or part of the Vested Options beyond the date of such termination for a period not to exceed the period during which the Options by their terms would otherwise have been exercisable.

For avoidance of any doubt, if termination of employment or service is for Cause, any outstanding unexercised Option (whether vested or non-vested), will immediately expire and terminate, and the Grantee shall not have any right in connection to such outstanding Options.

7.6

Any form of Grant Notification Letter authorized by the Scheme may contain such other provisions as the Committee may, from time to time, deem advisable.

7.7

The Options and any underlying Shares are extraordinary, one-time benefits granted to the Grantee and are not and shall not be deemed a salary component for any purpose whatsoever, including in connection with calculating severance compensation under applicable law.

7.8

Neither the Grantee nor any other person, as the case may be, shall have any claim to be granted any Options, and there is no obligation by the Company for uniformity of treatment of Grantees or their beneficiaries (if applicable). The terms and conditions of the Options granted under this Scheme and any of the Board’s determinations and interpretations with respect thereto need not be the same with respect to each Grantee (whether or not such Grantees are similarly situated).

7.9

In lieu of exercising Option for cash, the Grantee may elect to receive Shares equal to the aggregate Exercise Price (or the portion thereof being exercised) (“Net Exercise”). The final approval of Net Exercise will be at the sole discretion of the Company. Upon a Net Exercise, the Grantee shall have the rights described hereof, and the Company shall issue to the Grantee a number of Shares computed using the following formula

Graphic

Where:

X =The number of Shares to be issued to the Grantee.

Y =The number of Shares purchasable

A =The Fair Market Value of one (1) Share (at the date of such calculation).

B =The Exercise Price (as adjusted to the date of such calculation).

If the Shares are not traded on the over-the-counter market, an exchange or an electronic securities market, the Fair Market Value shall be the price per Share based upon a written

10


valuation of the Shares prepared by an independent appraiser retained by the Company to determine the Fair Market Value of the Shares for purposes of the Plan and delivered to the Grantee.

8.VESTING OF OPTIONS

8.1

Subject to the provisions of the Scheme, each Option shall vest in accordance with the Vesting Dates and for the number of Shares as shall be provided in the Grant Notification Letter. However, no Option shall be exercisable after the Expiration Date. Unless otherwise specified in the Grant Notification Letter, vesting for Options shall be as follows: 25% - on the date which is 1 year following the commencement of the provision of services; 75% - quarterly in 12 equal installments of 6.25% each over the following 36 months.

8.2

An Option may be subject to such other terms and conditions regarding the time or times when it may be exercised, as the Committee may deem appropriate. The vesting provisions of individual Options may vary.

9.TRUSTEE

9.1

Options which shall be granted under Plan and/or other shares received subsequently following any realization of rights, including without limitation bonus shares, shall be allocated or issued to the Trustee and held for the benefit of the Grantees.

9.2

Notwithstanding anything to the contrary, the Trustee shall not release any Shares allocated or issued prior to the full payment of the Grantee’s tax liabilities arising from the Options which were granted to him and/or any Shares allocated or issued upon exercise of such Options.

9.3

Upon receipt of an Option, the Grantee will sign an undertaking in which he or she will give his or her consent to the grant of the Option and will undertake to comply with the terms of the trust agreement between the Company and the Trustee.

10.SHARES SUBJECT TO RIGHT OF FIRST REFUSAL

10.1

Notwithstanding anything to the contrary in the Articles of Association of the Company, none of the Grantees shall have, solely by virtue of their status as Grantees of an Option, a right of first refusal in relation with any sale of shares in the Company.

10.2

Unless otherwise determined by the Committee, until such time as the Company shall complete an IPO, a Grantee shall not have the right to sell Shares issued upon the exercise of an Option within six (6) months and one day of the date of exercise of such Option or issuance of such Shares. Unless otherwise determined by the Committee, until such time as the Company shall complete an IPO, the sale of Shares issuable upon the exercise of an Option shall be subject to a right of first refusal on the part of the Repurchaser(s).

11


Repurchaser(s)” means (i) the Company, if permitted by applicable law, (ii) if the Company is not permitted by applicable law, then any affiliate of the Company designated by the Committee; (iii) if no decision is reached by the Committee, then the Company’s existing shareholders (save, for avoidance of doubt, for other Grantees who are shareholders only by virtue of having already exercised their Options), pro rata in accordance with their shareholding. The Grantee shall give a notice of sale (hereinafter the “Notice”) to the Company in order to offer the Shares to the Repurchaser(s).

10.3

The Notice shall specify the name of each proposed purchaser or other transferee (hereinafter the “Proposed Transferee”), the number of Shares offered for sale, the price per Share and the payment terms. The Repurchaser(s) will be entitled for thirty (30) days from the day of receipt of the Notice (hereinafter the “Notice Period”), to purchase all or part of the offered Shares on a pro rata basis based upon their respective holdings in the Company.

10.4

If by the end of the Notice Period not all of the offered Shares have been purchased by the Repurchaser(s), the Grantee shall be entitled to sell such Shares at any time during the ninety (90) days following the end of the Notice Period on terms not more favorable than those set out in the Notice, provided that the Proposed Transferee agrees in writing that the provisions of this section shall continue to apply to the Shares in the hands of such Proposed Transferee. Any sale by the Grantee, of Shares issued under the Scheme, that is not made in accordance with the Scheme or the Grant Notification Letter shall be null and void. For the avoidance of doubt, following the end of such 90-day period, the sale of any such Shares not sold during such period shall again be subject to the right of first refusal described in this Section 9.

11.DIVIDENDS

Notwithstanding anything mentioned above, and in addition thereto, with respect to all Shares (but excluding, for avoidance of any doubt, any unexercised Options) allocated or issued upon the exercise of Options purchased by the Grantee and held by the Grantee or (if and as required by applicable law) by his nominee, as the case may be, the Grantee shall be entitled to receive dividends in accordance with the quantity of such Shares, subject to the provisions of the Company’s Articles of Association (and all amendments thereto) and subject to any applicable taxation on distribution of dividends.

12.PURCHASE FOR INVESTMENT

The Company’s obligation to issue or allocate Shares upon exercise of an Option granted under the Scheme is expressly conditioned upon (a) the execution by such Grantee of any shareholders agreement in effect at such time among the Company's shareholders, if and as required by the Board, and (b) the following:

(i)

the Company’s completion of any registration or other qualifications of such Shares under all applicable laws, rules and regulations, or;

12


(ii)

representations and undertakings by the Grantee (or his legal representative, heir or legatee, in the event of the Grantee’s death) to assure that the sale of the Shares complies with any registration exemption requirements which the Company in its sole discretion shall deem necessary or advisable.

Such required representations and undertakings may include representations and agreements that such Grantee (or his legal representative, heir, or legatee):

(i)

is purchasing such Shares for investment and not with any present intention of selling or otherwise disposing thereof; and;

(ii)

agrees to have placed upon the face and reverse of any certificates evidencing such Shares a legend setting forth (a) any representations and undertakings which such Grantee has given to the Company or a reference thereto, and (b) that, prior to effecting any sale or other disposition of any such Shares, the Grantee must furnish to the Company an opinion of counsel, satisfactory to the Company, that such sale or disposition will not violate the applicable laws, rules and regulations of the United States or any other state having jurisdiction over the Company and the Grantee.

13.RESTRICTIONS ON ASSIGNABILITY AND SALE OF OPTIONS

No Option or any right with respect thereto, purchasable hereunder, whether fully paid or not, shall be assignable, transferable or given as collateral or any right with respect to it given to any third party whatsoever, other than by will or by laws of descent and distribution, or as specifically otherwise allowed under the Scheme, except as specifically allowed under the Scheme, and during the lifetime of the Grantee each and all of such Grantee's rights to purchase Shares hereunder shall be exercisable only by the Grantee.

Any such action made directly or indirectly, for an immediate validation or for a future one, shall be void.

14.EFFECTIVE DATE, DURATION, AMENDMENTS OR TERMINATION OF THE SCHEME

14.1

The Scheme shall be effective as of the day it was adopted by the Board and shall terminate at the end of ten (10) years from such day of adoption (the: “Termination Date”).

14.2

The Company shall obtain the approval of the Company’s shareholders for the adoption of this Scheme and/or the Annexes thereto, or for any amendment to this Scheme and/or the Annexes thereto, if shareholders’ approval is required under any applicable law including without limitation the U.S. securities law or the securities laws of any other jurisdiction applicable to Options granted to Grantees under this Scheme and/or the Annexes thereto, or if shareholders’ approval is required by any authority or by any governmental agencies or national securities exchanges including without limitation the U.S. Securities and Exchange Commission.

14.3

The Board may at any time, subject to the provisions of Section 13.2 above and all applicable law, amend, alter, suspend or terminate the Scheme, provided, however, that

(i)

the Board may not extend the term of the Scheme specified in Section 13.1 above and;

13


(ii)

no amendment, alteration, suspension or termination of the Scheme shall impair the rights of any Grantee, unless mutually agreed otherwise by the Grantee and the Company, which agreement must be in writing and signed by the Grantee and the Company.

Earlier termination of the Scheme prior to the Termination Date shall not affect the Board’s ability to exercise the powers granted to it hereunder with respect to Options granted under the Scheme prior to the date of such earlier termination.

15.GOVERNMENT REGULATIONS

The Scheme, and the granting and exercise of Options hereunder, and the obligation of the Company to sell and deliver Shares under such Options, shall be subject to all applicable laws, rules, and regulations, whether of the State of Israel or of the United States or any other State having jurisdiction over the Company and the Grantee, including the registration of the Shares under the United States Securities Act of 1933, and to such approvals by any governmental agencies or national securities exchanges as may be required. Nothing herein shall be deemed to require the Company to register the Shares under the securities laws of any jurisdiction.

16.CONTINUANCE OF EMPLOYMENT OR HIRED SERVICES

Neither the Scheme nor the Grant Notification Letter with the Grantee shall impose any obligation on the Company or an Affiliate thereof, to continue any Grantee in its employ or service, and nothing in the Scheme or in any Option granted pursuant thereto shall confer upon any Grantee any right to continue in the employ or service of the Company or an Affiliate thereof or restrict the right of the Company or an Affiliate thereof to terminate such employment or service at any time.

17.GOVERNING LAW & JURISDICTION

The Scheme shall be governed by and construed and enforced in accordance with the laws of Hong Kong applicable to contracts made and to be performed therein, without giving effect to the principles of conflict of laws. The competent courts of Hong Kong shall have sole jurisdiction in any matters pertaining to the Scheme.

18.TAX CONSEQUENCES

18.1

Any tax consequences to any Grantee arising from the grant or exercise of any Option, from the payment for Shares covered thereby or from any other event or act (of the Company and/or its affiliates, or the Grantee) hereunder shall be borne solely by the Grantee. The Company and/or its affiliates shall withhold taxes according to the requirements under the applicable laws, rules, and regulations, including withholding taxes at source. Furthermore, the Grantee shall agree to indemnify the Company and/or its affiliates and hold them harmless against and from any and all liability for any such tax or interest or penalty thereon, including without limitation, liabilities relating to the necessity to withhold, or to have withheld, any such tax from any payment made to the Grantee.

14


18.2

The Company shall not be required to release any Share certificate to a Grantee until all required payments have been fully made.

19.NON-EXCLUSIVITY OF THE SCHEME

The adoption of the Scheme by the Board shall not be construed as amending, modifying or rescinding any previously approved incentive arrangements or as creating any limitations on the power of the Board to adopt such other incentive arrangements as it may deem desirable, including, without limitation, the granting of Options otherwise than under the Scheme, and such arrangements may be either applicable generally or only in specific cases.

For the avoidance of doubt, prior grant of options to Grantees of the Company under their employment agreements, and not in the framework of any previous option scheme, shall not be deemed an approved incentive arrangement for the purpose of this Section.

20.MULTIPLE AGREEMENTS

The terms of each Option may differ from other Options granted under the Scheme at the same time, or at any other time. The Board may also grant more than one Option to a given Grantee during the term of the Scheme, either in addition to, or in substitution for, one or more Options previously granted to that Grantee.

21.RULES PARTICULAR TO SPECIFIC COUNTRIES

Notwithstanding anything herein to the contrary, the terms and conditions of the Scheme may be adjusted with respect to a particular country by means of an addendum to the Scheme in the form of an annex (each an: “Annex”), and to the extent that the terms and conditions set forth in the Annex conflict with any provisions of the Scheme, the provisions of the Annex shall govern. Terms and conditions set forth in the Annex shall apply only to Options issued to Grantees under the jurisdiction of the specific country that is subject of the Annex and shall not apply to Options issued to any other Grantee. The adoption of any such Annex shall be subject to the approval of the Board and if required the approval of the shareholders of the Company.

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Appendix 1

Tradeos Option Exercise Form

Name of Employee (or option holder)

Number of Options Exercised

Amount to be paid per strike price

Last Date of Employment

Date of Exercise

******

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Dates Referenced Herein   and   Documents Incorporated by Reference

This ‘F-1’ Filing    Date    Other Filings
Filed on:2/22/23None on these Dates
 List all Filings 


7 Subsequent Filings that Reference this Filing

  As Of               Filer                 Filing    For·On·As Docs:Size             Issuer                      Filing Agent

 3/21/24  Freightos Ltd.                    20-F       12/31/23  125:17M                                    Toppan Merrill/FA2
 3/18/24  M&G Investment Management Ltd.    SC 13D                 1:55K  Freightos Ltd.                    Toppan Merrill/FA
 9/11/23  Freightos Ltd.                    POS AM               158:26M                                    Toppan Merrill/FA
 4/14/23  Freightos Ltd.                    F-1/A                185:28M                                    Toppan Merrill/FA
 3/30/23  Freightos Ltd.                    20-F       12/31/22  125:19M                                    Toppan Merrill/FA2
 3/13/23  SEC                               UPLOAD5/30/23    2:47K  Freightos Ltd.
 3/06/23  Freightos Ltd.                    S-8         3/06/23    7:118K                                   Toppan Merrill/FA


5 Previous Filings that this Filing References

  As Of               Filer                 Filing    For·On·As Docs:Size             Issuer                      Filing Agent

 1/25/23  Gesher I Acquisition Corp.        8-K:1,2,3,5 1/25/23   14:382K                                   Toppan Merrill/FA
12/21/22  Freightos Ltd.                    F-4/A                  5:11M                                    Toppan Merrill/FA
12/09/22  Freightos Ltd.                    F-4                   23:13M                                    Toppan Merrill/FA
 6/06/22  Gesher I Acquisition Corp.        8-K:1,3,9   5/31/22   20:1.7M                                   Donnelley … Solutions/FA
10/14/21  Gesher I Acquisition Corp.        8-K:1,9    10/12/21    9:855K                                   EdgarAgents LLC/FA
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