Second Addition to Amendment to Licensing Agreement Between Resdevco Ltd. and Wize Pharma Ltd. (March 30, 2017)
Resdevco Ltd. and Wize Pharma Ltd. have agreed to further amend their licensing agreement regarding worldwide rights to the Unit Dose Eye Product. The amendment cancels Wize Pharma's previous option to purchase rights in territories not already under contract and removes a prior addition to the agreement. The parties may discuss future purchases of these rights under mutually agreed terms. Wize Pharma must pay a minimum annual royalty of $150,000 plus VAT for the USA license by May 31, 2017. Both parties' CEOs have signed the agreement.
Exhibit 10.16
Second Addition to the Amendment to Licensing Agreement - Worldwide rights to the
Unit Dose Eye Product — dated November 22, 2015
| 1. | From the Amendment to Licensing Agreement — Worldwide rights to the Unit Dose Eye Product — signed on November 22, 2015, section 3 — Rest of the world, the first paragraph is cancelled: |
“Resdevco grants Wize Pharma an option to purchase all the territories which are not under a signed contract for the amount of 3 Million USD and 0.3 UDS royalties per box of 30 unit for the dry-eye / Conjunctivochalasis product or equivalent royalties for boxes of different quantities.”
| 2. | Resdevco Ltd. and Wize Pharma Ltd. will keep open an option of a future discussion of purchasing the “rest of world”, under terms that will be mutually agreed upon. |
| 3. | The agreement: Addition to the Amendment to Licensing Agreement — Worldwide rights to the Unit Dose Eye Product — dated November 22, 2015, (signed on January 5, 2017) is cancelled |
| 4. | The 2017 minimum deductible annual royalty for the USA license: $150,000 + VAT, which was due originally on January 31, 2017, will be directly deposited in Resdevco’s account no later than May 31, 2017 at the exchange rate of 3.75 NIS per dollar. |
| Resdevco Ltd. | Wize Pharma Ltd. | |
| Name: Shabtay Dikstein | Name: Or Eisenberg | |
| Position: CEO | Position: CEO | |
| Signature: /s/ Prof. S. Dikstein | Signature: /s/ Or Eisenberg | |
| Date: March 30, 2017 | Date: March 30, 2017 |
