Raphael Pharmaceutical Inc.
MANAGEMENT AND OPERATIONS AGREEMENT, DATED AS OF JULY 5, 2022, BETWEEN SHEFFA EN
<DOCUMENT>
<TYPE>EX-10.2
<SEQUENCE>3
<FILENAME>ea162555ex10-2_raphael.htm
<DESCRIPTION>MANAGEMENT AND OPERATIONS AGREEMENT, DATED AS OF JULY 5, 2022, BETWEEN SHEFFA ENTERPRISES INC. AND THE COMPANY
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<P STYLE="margin: 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">This MANAGEMENT AND OPERATIONS AGREEMENT (this &ldquo;Agreement&rdquo;) is made as of JULY 5<SUP>th</SUP> 2022, by and between <B>Raphael
Pharmaceutical ltd</B>. (the &ldquo;Company&rdquo;), and <B>Sheffa Enterprises, INC., a New Jersey corporation/ Shlomo Pilo (the &ldquo;Manager&rdquo;).
</B></P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">WHERES, the parties signed a management agreement
on 1<SUP>st</SUP> June 2019 (&ldquo;so call: &ldquo;the previous agreement&rdquo;;</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">WHERES, the parties agreed to cancel the previous
agreement and to engage the following 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">WHEREAS, the Company desires to engage the Manager
to manage its Business, and the Manager desires to retain, operate and manage the Business on the terms set forth herein;</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">NOW, THEREFORE, in consideration of the mutual
covenants, agreements, representations and warranties contained herein, and intending to be legally bound hereby, the parties hereto hereby
agree as follows:</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; text-align: justify; margin: 0pt 0">1.&nbsp;<U>Appointment of Manager; Relationship of Company and the
Manager</U>.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Manager shall provide management and operational
support services to the Company, as hereinafter provided. Manager, at all times, shall be independent of the Company. Nothing contained
herein shall be deemed to make or render the Company a partner, co-venturer or other participant in the business or operations of the
Manager, or in any manner to render Company liable, as principal, surety, guarantor, and agent or otherwise for any of the debts, obligations
or liabilities of Manager. Similarly, nothing contained herein shall be deemed to make or render the Manager a partner, co-venturer or
other participant in the business or operations of the Company, or in any manner to render Manager liable, as principal, surety, guarantor,
and agent or otherwise for any of the debts, obligations or liabilities of Company.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin: 0pt 0">2.&nbsp;<U>Management Services</U>.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Commencing on the date of this Agreement, Manager
will provide, supply and render such management and operational support services as are necessary to provide service to the Company and,
as more specifically described below, shall:</P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in; text-align: left">a.</TD><TD STYLE="text-align: justify">Administer and supervise all of the finances of the Business,
including payroll, taxes, accounting, bookkeeping, record keeping, managing or accounts payable, and accounts receivable, banking, financial
records and reporting functions as they pertain to the business of the Company, with the power to make such changes therein, in its sole
discretion, and to incorporate such functions into systems used by Manager. Manager shall prepare and maintain financial statements for
the Business according to generally accepted accounting principles consistently applied and shall provide the Company with weekly operating
reports and statements including but not limited to cash flow statements, income statements, accounts payable and accounts receivable
reports and such other reports and information as may be requested by Company from time to time.</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: -0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: -0.25in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: -0.25in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in; text-align: left">b.</TD><TD STYLE="text-align: justify">Select and employ all personnel necessary to service the
Business of the Company.</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: -0.25in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in; text-align: left">c.</TD><TD STYLE="text-align: justify">Supervise and control the purchase of all materials and supplies,
and acquire, lease, dispose of and repair equipment and facilities necessary to provide safe and adequate service to the business of
the Company.</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: -0.25in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in; text-align: left">d.</TD><TD STYLE="text-align: justify">Manage all costs and all pricing on a customer-by-customer
basis, estimate all costs on new contracts, bid on and enter into new contracts, and control all costs for contracts in progress.</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: -0.25in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in; text-align: left">e.</TD><TD STYLE="text-align: justify">Commence, defend and control all legal actions, arbitrations,
investigations and proceedings that arise due to events occurring in connection with the business of the Company during the term of this
Agreement.</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: -0.25in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in; text-align: left">f.</TD><TD STYLE="text-align: justify">Maintain the assets of the Company in good repair, order
and condition, normal and reasonable wear and tear excepted.</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: -0.25in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in; text-align: left">g.</TD><TD STYLE="text-align: justify">At the Manager&rsquo;s expense, provide the Company with
office or storage space in <B>Lui Paster 4 Tel Aviv-Jaffa, Israel</B> sufficient to maintain the Company&rsquo;s files and administrative
personnel.</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: -0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Notwithstanding the foregoing, the Manager shall
not have the authority, without the express written consent of the board of the directors of the Company, to purchase in the name of the
Company, or for use by the Company in the Business, any assets outside the ordinary course of business, or incur any indebtedness outside
the ordinary course of business.</P>

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

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">3.&nbsp;<U>Obligations of the Company</U>.</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">Prior to the expiration of this Agreement, the Company shall provide
the Manager with true and correct information relating to all functions for which the Manager has responsibility hereunder, and shall
not take any action to interfere with the Manager&rsquo;s performance of its duties hereunder.</P>

<P STYLE="text-align: justify; 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">4.&nbsp;<U>Additional Agreements of the Manager</U>.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The Manager agrees that at all times during the
term of this Agreement it shall, to the extent the Company has adequate funds thereto:</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">(a) Do nothing, and permit nothing to be done
(which is within the control of the Manager), which will or might cause the Company to operate in an improper or illegal manner.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">(b) Not cause a default in any of the terms, conditions
and obligations of any of the contracts and other agreements of the Company.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></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">(c) To the extent permissible by law, maintain
in full force its licenses and permits in the State of Israel and comply fully with all laws respecting its formation, existence, activities
and operations.</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">(d) Allow the Company and the employees, attorneys,
accountants and other representatives of the Company, full and free access to its books and records, and all of the facilities of the
Company relating to the Business.</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">5.&nbsp;<U>General and Administrative Activities</U>.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">To the extent that Manager shall deem it necessary
or desirable, Manager shall have the power and authority to combine and integrate, at its own office (including those of an affiliate),
the &ldquo;general and administrative&rdquo; (as such term is used in accounting practice) activities of the Business, including, but not
limited to, all accounting, bookkeeping, record-keeping, paying, receiving and other fiscal or financial activities, with those of Manager,
provided that any obligation of the Company to share or defer costs of such office shall but subject to the subsequent agreement of the
Company.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">6.&nbsp;<U>Location</U>.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">During the term of this Agreement, the business
of the Company will be serviced by Manager from the Manager&rsquo;s office in Lui-Paster 4 Tel Aviv Jaffa, Israel or any other location selected
by Manager.</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; text-align: justify; margin: 0pt 0">7.&nbsp;<U>Compensation</U>.</P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in; text-align: left">a.</TD><TD STYLE="text-align: justify"><U>Base Compensation</U></TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin: 0pt 0 0pt 1.5in; text-indent: -0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.5in; text-align: justify">While Manager is employed by the Company
hereunder and as otherwise provided in this Agreement, the Company shall pay to Manager a monthly fee in the amount of $20,000, payable
in advance, with the first payment being due and payable on January 1<SUP>st</SUP>, 2023, and each succeeding payment being due and payable
on the first day of each succeeding calendar quarter during the term of this Agreement. It should be noted that until end of year 2022,
the manager fee&rsquo;s will remain according to June 1<SUP>st</SUP> 2019 agreement.</P>

<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="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in; text-align: left"><B>b.</B></TD><TD STYLE="text-align: justify"><B>The company will grant the SHLOMO PILO 1,000,000 Warrants
to be executed at price of $1.12 per Warrant until 31.12.2025.</B></TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 103.5pt; text-align: justify; text-indent: -0.25in"><B>&nbsp;</B></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in; text-align: left">c.</TD><TD STYLE="text-align: justify"><U>Expenses</U></TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin: 0pt 0 0pt 1.5in; text-indent: -0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.5in; text-align: justify">While Manager is employed by the Company
hereunder, the Company shall reimburse Manager for all reasonable and necessary out-of-pocket business, travel and entertainment expenses
incurred by it in the performance of its duties and responsibilities hereunder, subject to the Company&rsquo;s normal policies and procedures
for expense verification and documentation.</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>

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

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">8.&nbsp;<U>Term of Agreement; Termination of Rights.</U></P>

<P STYLE="text-align: justify; 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">(a) The term of this Agreement shall commence
on its execution, and expire, unless terminated or extended in writing, on December 31, 2024. Upon termination of this Agreement, all
books and records relating to the operation of the Business shall be immediately returned to the Company. Notwithstanding the foregoing,
the Company may terminate this Agreement prior to the expiration of its term upon one hundred &amp; twenty (120) days advance notice and
the payment to the Manager of a termination fee equal to the lesser of a) $360,000, or b) the monthly management fee paid or payable to
the Manager pursuant to Paragraph 7 herein for the remaining this Agreement.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">(b) Company may, at its option, upon ten (10)
days&rsquo; written notice terminate this Agreement (if such default is not cured within such ten (10) day period or such longer period as required
to effect a cure if a cure is commenced within 10 days and diligently prosecuted): (i) if Manager shall violate any material provision
of this Management Agreement; (ii) if Manager shall violate or be in material breach of any provision, representation, warranty, covenant
or undertaking herein; or (iii) if Manager (a) makes an assignment for the benefit of creditors, (b) is adjudicated a bankrupt, (c) files
or has filed against it any bankruptcy, reorganization, liquidation or similar petition or any petition seeking the appointment of a receiver,
conservator or other representative, or (d) proposes a composition arrangement with creditors. The date on which this Agreement is terminated
pursuant to Section 8(a) above or this Section 8(b) is hereinafter referred to as the &ldquo;Expiration Date&rdquo;.</P>

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

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">9.&nbsp;<U>Indemnification</U>.</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">(a) Company shall indemnify, defend and hold harmless Manager and its
affiliates, their respective shareholders, officers, directors, employees, and agents, against and in respect of any and all Losses arising
out of or due to the operation of the Business by Company, its affiliates, agents, servants and/or employees prior to the commencement
of the term of this Management Agreement. The obligations set forth in this Section 9(b) shall survive for a period of one (1) year following
the Expiration Date.</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">10.&nbsp;<U>Additional Provisions</U>.</P>

<P STYLE="text-align: justify; 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">(a) This Agreement sets forth the entire understanding
and agreement among the parties hereto with reference to the subject matter hereof and may not be modified, amended, discharged or terminated
except by a written instrument signed by the parties hereto.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">(b) This Agreement replaced the previous agreement
&amp; the parties see the previous agreement as void.</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">(c) This Agreement shall be governed by, and construed
in accordance with, the laws of the State of ISRAEL applicable to agreements made, delivered and to be performed within such State.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">(c) This Agreement may not be assigned by Company
or Manager, except that Manager may in its sole discretion assign this Agreement to a properly licensed affiliate performing similar types
of services. Upon any assignment Manager shall remain primarily liable and also be jointly and severally liable to Company for performance
of Manager&rsquo;s duties herein.</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">(d) All of the terms and provisions of this Management
Agreement shall be binding upon, inure to the benefit of, and be enforceable by each of the parties hereto and their respective successors
and assigns. Except for affiliates of the Company and Manager and their respective shareholders, officers, directors, employees and agents,
no person other than the parties hereto shall be a third party beneficiary of this Agreement or have any rights hereunder.</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">(e) If any provision of this Agreement shall be
determined by a court of competent jurisdiction to be invalid or unenforceable, such determination shall not affect the remaining provisions
of this Agreement, all of which shall remain in full force and effect.</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">(f) This Agreement may be executed in one or more
counterparts, each of which shall be deemed an original but all of which shall constitute one and the same instrument.</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">(g) The headings in this Agreement are for reference
purposes only and shall not in any way affect the meaning or interpretation of this Agreement.</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">IN WITNESS WHEREOF, the parties have executed
this Management Agreement as of the date first above written.</P>

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<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: 40%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Signed this 5<SUP>th</SUP> day of
    JULY, 2022.</FONT></TD>
    <TD STYLE="width: 20%"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="width: 40%"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    </TR>
  <TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    </TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: Black 1.5pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">/s/ Guy Ofir</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">/s/ Shlomo
    Pilo</FONT></TD>
    </TR>
  <TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    </TR>
  <TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>COMPANY</B></FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>MANGER </B></FONT></TD>
    </TR>
  <TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    </TR>
  <TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>by: Guy Ofir,CFO &amp; Director</B></FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>by: Shlomo Pilo, CEO</B></FONT></TD>
    </TR>
  </TABLE>

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

<P STYLE="text-align: center; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt">5</P>

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