The Board of Directors of CyberArk Software Ltd. (the "Company") sets high standards for the Company's employees, officers and directors. Implicit in this philosophy is the importance of sound corporate governance. It is the duty of the Board of Directors to serve as a prudent fiduciary for shareholders and to oversee the management of the Company's business. To fulfill its responsibilities and to discharge its duty, the Board of Directors has established a number of committees whose activities are governed by charters. In addition, the Board of Directors has adopted a Corporate Code of Ethics and Conduct and a Fair Disclosure Policy Statement. These charters, as well as the code and policy are subject to modification from time to time as the Board of Directors deems appropriate in the best interests of the Company or as required by applicable laws and regulations.