Common use of ACKNOWLEDGMENT OF EXERCISE Clause in Contracts

ACKNOWLEDGMENT OF EXERCISE. The undersigned [ ], hereby acknowledge receipt of the “Notice of Exercise” from [●], to purchase [ ] Common Shares of VBI Vaccines Inc., pursuant to the terms of the Warrant, and further acknowledges that [ ] shares remain subject to purchase under the terms of the Warrant. By: Title: Date:

ACKNOWLEDGMENT OF EXERCISE. The undersigned [ ], hereby acknowledge receipt of the “Notice of Exercise” from [●], to purchase [ ] Common Shares of VBI Vaccines Inc., pursuant to the terms of the Warrant, and further acknowledges that [ ] shares remain subject to purchase under the terms of the Warrant. By: Name: Title: Date:

ACKNOWLEDGMENT OF EXERCISE. The undersigned [ [____________________________________], hereby acknowledge receipt of the “Notice of Exercise” from [●], ___________________] to purchase [ [____] Common Shares of VBI Vaccines Vaccines, Inc., pursuant to the terms of the WarrantAgreement, and further acknowledges that [ [______] shares Common Shares remain subject to purchase under the terms of the Warrant. By: Title: Date:Agreement.