InMode letterhead]
Exhibit 10.13
[InMode letterhead]
August 30th, 2018
Xx. Xxxx Xxxxxxxx
Chief Executive Officer
Wigmore Medical Limited
00 Xxxxxxx Xxxxxx
Xxxxxx X0X 0XX
Xxxxxx Xxxxxxx
Re: Consent to Waive Equity Swap Provision of MOU
Dear Mr. Xxxxxxxx,
Reference is made to the Founders Memorandum of Understanding, dated as of March 4, 2014 (the “MOU”), by and between InMode Ltd. (formerly Invasix Ltd.) (“Inmode”) and Wigmore Medical Limited (“Wigmore”). As of the date of this letter, Xxxxxxx holds 49% of the outstanding share capital of Invasix UK Ltd., a subsidiary of InMode (“Invasix UK”). Capitalized terms used herein and not otherwise defined herein shall have the meanings assigned to such terms in the MOU.
Xxxxxxx hereby agrees to waive any and all rights, requirements, privileges and interests described under Section 10 “Equity Swap” of the MOU, which provides for, among other things, that Wigmore is entitled to swap its shares in Invasix UK for ordinary shares of InMode prior to any IPO or M&A transaction.
Xxxxxxx acknowledges and agrees that the execution and delivery of this letter, except as specifically provided herein, shall not constitute a release, waiver or amendment of any other provision of the MOU, and all other terms of the MOU otherwise remain in full force and effect.
[The remainder of this page is intentionally blank. Signature pages to follow.]
Sincerely, | |||
INMODE LTD. | |||
By: | /s/ Xxxxx Xxxxxxx | ||
Name: | Xxxxx Xxxxxxx | ||
Title: | CEO |
Agreement to waive and disclaim as of the 30th day of August, 2018:
WIGMORE MEDICAL LTD. | ||
By: | /s/ X.X. Eghiayan | |
Name: | X.X Xxxxxxxx | |
Title: | CEO |