Termination of Services Agreement among Can-Fite BioPharma Ltd., OphthaliX Inc., and EyeFite Ltd.

Contract Categories: Business Operations › Termination Agreements
Summary

This agreement, effective in 2017, is between Can-Fite BioPharma Ltd., OphthaliX Inc., and EyeFite Ltd. It formally ends a previous services agreement under which Can-Fite provided clinical development services related to a therapeutic drug. All parties agree to terminate the prior agreement amicably, with Can-Fite waiving any outstanding payments owed by the other companies. The termination is mutual, and all parties confirm they have no claims against each other, citing the failure of clinical trials as the reason for ending the agreement.

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EX-10.3 6 f8k052117ex10iii_ophthalix.htm TERMINATION OF SERVICES AGREEMENT

Exhibit 10.3

 

TERMINATION OF SERVICES AGREEMENT

 

THIS TERMINATION OF SERVICES AGREEMENT (this “Agreement”) made as of this _____________, 2017 (the “Effective Date”) by and between CAN-FITE BIOPHARMA LTD., an Israeli-registered public company whose principal place of business is located at 10 Bareket Street, Petach Tikva, Israel ( “CanFite”), OPHTHALIX INC., a Delaware-registered company, whose principal place of business is located at 10 Bareket Street, Petach Tikva, Israel ("OphthaliX"), and its wholly owned subsidiary, EYEFITE LTD., an Israeli-registered private company whose principal place of business is located at 12 Abba Hillel Silver, Ramat Gan 52506 , Israel ("EyeFite" and together with OphthaliX, the “Companies” and Can-Fite, Eyefite and OphthaliX, each a “Party”).

 

WHEREASon November 21, 2011 the Parties entered into a services agreement, a copy of which is attached hereto as Exhibit A (the “Services Agreement”) in accordance to which CanFite provided certain services to the Companies in its clinical development activities with the therapeutic drug CF101 for the field of ophthalmic diseases; and
   
WHEREASthe Parties hereto mutually wish to terminate the Services Agreement effective as of the Effective Date.

 

NOW THEREFORE, in consideration of the mutual undertakings and promises herein contained, the parties hereby agree as follows:

 

1.TERMINATION OF THE SERVICE AGREEMENT

 

1.1In accordance with Section 3.1 and 9.3 of the Services Agreement, the Parties hereby agree to amend the Services Agreement so as to enable the mutual termination of the Service Agreement hereunder.

 

1.2Accordingly, the Parties hereby terminate the Services Agreement, such termination to be effective as of the Effective Date.

 

1.3CanFite hereby waives any and all payments owed to it by the Companies under the Services Agreement and outstanding as of the Effective Date so that any and all such amounts are hereby waived and cancelled.

 

2.NO CLAIMS

 

Each of the Parties hereto hereby represents and certifies that it has no claims against the other Party and the termination of the Agreement is agreed upon amicably and due to the failure of the clinical trials performed by OphthaliX.

  

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IN WITNESS WHEREOF, the parties have executed this Agreement

  

       
CAN-FITE BIOPHARMA LTD.   OPHTHALIX INC.  
       
Name:   Name:  
Title   Title  
Date:   Date:  

 

     
EYEFITE LTD.    
Name:    
Title    
Date:    

 

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Exhibit A

 

THE SERVICES AGREEMENT

 

 

 

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