Addition to Amendment to Licensing Agreement between Resdevco Ltd. and Wize Pharma Ltd. (January 6, 2017)
This agreement is an addition to a previous amendment to a licensing agreement between Resdevco Ltd. and Wize Pharma Ltd. It sets out the minimum royalty payments Wize Pharma must pay Resdevco for worldwide sales of a unit dose eye product, starting from the date of signing. The payments increase annually, beginning at $0 in the first year and reaching $750,000 from the sixth year onward. The agreement also allows Wize Pharma to postpone a specific 2017 royalty payment for the USA until March 31, 2017.
Exhibit 10.15
Addition to the Amendment to Licensing Agreement - Worldwide rights to
the Unit Dose Eye Product - dated November 22, 2015
Subject to Wize Pharma exercising the Option mentioned in the Amendment to Licensing Agreement dated November 22, 2015 section 3, The minimal sales in every country will be based on the formula described in the Appendix E of the Eyedrops for the USA document signed May 1, 2015, except if different terms are agreed in advance, in writing with Resdevco.
Wize Pharma agrees to pay minimum royalties for worldwide sales, beginning at the signature date as follows:
Year 1 - $0
Year 2 - $150,000
Year 3 - $300,000
Year 4 - $450,000
Year 5 - $600,000
Year 6 and beyond - $750,000
Resdevco agrees to postpone the minimum royalty payment of 2017 for the USA ($150,000 - one hundred and fifty thousand US dollars) until March 31, 2017.
| Resdevco Ltd. | Wize Pharma Ltd. | |
| Name: Shabtay Dikstein | Name: Or Eisenberg | |
| Position: CEO | Position: CFO & Acting CEO | |
| Signature: /s/ Prof. S. Dikstein | Signature: /s/ Or Eisenberg | |
| Date: January 6, 2017 | Date: January 5, 2017 |
