OramedPharmaceuticals, Inc. | 2 Elza Street, Jerusalem, Israel 93706. | www.oramedpharma.com Phone:011 ###-###-#### | Fax: 011 972-2 ###-###-#### | Email: ***@***
EX-10.22 4 f10k2016ex10xxii_oramed.htm LETTER AGREEMENT, DATED AS OF FEBRUARY 5, 2013, BETWEEN ORAMED PHARMACEUTICALS INC. AND REGALS CAPITAL LP.
Exhibit 10.22
February 5, 2013
David M. Slager
Regals Capital LP
152 West 57th Street
9th Floor
New York, NY 10019
Dear David:
This letter is to confirm certain undertakings that Oramed Pharmaceuticals Inc. (the "Company") has made in connection with your recent investment in the Company. The Company for ten years from October 26, 2012 on will not:
| 1. | Grant stock options with an exercise price of less than $6.00 per share, as adjusted for stock splits and the like; or |
| 2. | Grant stock options to officers, directors, employees or consultants exercisable into more than 125,000 shares of common stock of the Company, in the aggregate per calendar year, without the consent of the top 3 non-founding shareholders (ie top 3 shareholders outside of Nadav Kidron and Dr. Miriam Kidron and other related parties). |
Sincerely,
/s/ Nadav Kidron
Nadav Kidron, CEO
Oramed Pharmaceuticals, Inc. | 2 Elza Street, Jerusalem, Israel 93706. | www.oramedpharma.com
Phone: 011 ###-###-#### | Fax: 011 972-2 ###-###-#### | Email: ***@***
