Exhibit 10.10

[***] Certain information in this document has been excluded pursuant to
Regulation S-K, Item 601(b)(10).  Such excluded information is not material and
would likely cause competitive harm to the registrant if publicly disclosed.

ASSIGNMENT, ASSUMPTION AND AMENDMENT AGREEMENT

 

This Assignment, Assumption and Amendment Agreement (this “Agreement”) is
effective as of December 31, 2019 (the “Agreement Effective Date”), by and among
Nevro Corp., having a mailing address of 1800 Bridge Parkway, Redwood City, CA
94065 (“Nevro”), Greatbatch Ltd., having a mailing address of 10000 Wehrle
Drive, Clarence, New York, 14031, ("GB"), and Centro De Construccion De
Cardioestimuladores Del Uruguay S.A., having an address at General Paz 1371,
Montevideo, Uruguay, CP 11400 (“CCC”).

 

WHEREAS, Nevro and CCC are parties to that certain Supply Agreement, dated
effective as of November 11, 2016, as amended by that certain First Amendment to
the Supply Agreement, dated effective as of April 30, 2019 (the “Supply
Agreement”), whereby CCC provides certain services as described therein;

 

WHEREAS, GB and Nevro are parties to that certain Guaranty Agreement
(“Guaranty”), dated as of November 11, 2016.

 

WHEREAS, GB is the indirect parent company of CCC;

 

WHEREAS, CCC desires to assign all of its rights and obligations under the
Supply Agreement to GB and GB desires to assume all of CCC’s rights and
obligations under the Supply Agreement; and

 

WHEREAS, the parties wish to amend the Supply Agreement, as further set forth
below; and

 

WHEREAS, Nevro and GB desires to terminate the Guaranty.

 

NOW, THEREFORE, in consideration of the mutual promises, covenants and
agreements set forth, the parties agree:

 

SECTION 1: Assignment and Assumption

 

 

(a)

CCC hereby conveys, transfers and assigns to GB all of CCC’s rights and
Obligations under the Supply Agreement (the “Assignment”). GB hereby assumes the
rights and agrees to perform and assume all of the Obligations of CCC under the
Supply Agreement, as hereby amended. The term "Obligations" includes any
obligations, claims, or liability arising in the past, now existing or hereafter
incurred or created, whether voluntary or involuntary, absolute or contingent,
liquidated or unliquidated, determined or undetermined, and whether GB or CCC
may be liable individually or jointly with others (including without limit GB's
or CCC’s performance obligations, indemnification obligations, liability and
specific performance requirements with respect to any breach,

 

 

--------------------------------------------------------------------------------

 

 

and GB's or CCC’s obligation to pay damages or any other amounts owing from GB
or CCC to Nevro), in connection with the Supply Agreement.

 

 

 

(b)

Nevro hereby consents to the Assignment.

 

 

(c)

All references to CCC within the Supply Agreement shall be deemed to be replaced
with a reference to GB.

 

SECTION 2: Amendment to the Supply Agreement

 

 

(a)

Replace Section 1.21 of the Supply Agreement in its entirety with the following:

 

1.21“Manufacturing Facility” shall mean the facility located at (i) General Paz
1371, 11400 Montevideo, Uruguay, (ii) Calle 5 Norte #511, Ciudad Industrial
Nueva Tijuana, Tijuana, B.C. 22444 Mexico, and (iii) any other facility approved
by Nevro in accordance with Section 5.2(b) and that has been Qualified to
manufacture the Products.  

 

(b)

Replace Section 3.6(a) of the Supply Agreement in its entirety with the
following:

 

3.6Subcontractors.  (a) Use of Subcontractors.  GB will not use any
Subcontractor for any supply of Components or services related to the Product
other than Centro De Construccion De Cardioestimuladores Del Uruguay S.A.
(“CCC”) without the prior written consent of Nevro.  If Nevro consents to the
use of a Subcontractor, Nevro may specify change control procedures applicable
to the provision of services by such Subcontractor in addition to the terms of
Section 5.

 

(c)

Replace Section 12.3 of the Supply Agreement in its entirety with the following:

 

12.3Grant of License.  Subject to the last sentence of this Section 12.3, to the
extent that any Resulting Property or any materials, goods or services to be
delivered or provided by GB to Nevro under this Agreement (“Deliverables”)
incorporate in any manner any of the Pre-Existing Property of GB or any
improvements to or derivatives of the Pre-Existing Property of GB (the
“Incorporated GB Property”), GB hereby grants to Nevro and its Affiliates and
successors and assigns a perpetual, irrevocable, fully paid, worldwide,
sublicensable, non-exclusive license under the Incorporated GB Property and all
Intellectual Property Rights therein to make, use, sell, offer for sale, and
import the Incorporated GB Property and all Intellectual Property Rights
therein, in connection with such Resulting Property or Deliverables purchased
from GB and any improvements, derivatives or successor works of or to such
Resulting Property and Deliverables as

2

 

 

--------------------------------------------------------------------------------

 

Nevro considers appropriate, including to use, manufacture, sell, offer for
sale, import, display, copy, perform, modify, alter and support the Incorporated
GB Property incorporated within a product or service purchased from GB. The
license granted to Nevro includes the rights to future improvements to or
derivatives of the Incorporated GB Property to the extent such improvements or
derivatives are utilized in connection with a Deliverable purchased from GB, but
it does not require GB to take any actions or perform any activity to
incorporate such improvement or derivative into any deliverable in connection
with the Resulting Property or Deliverables, or any improvements, derivatives or
successor works thereof or thereto. Nothing in this Agreement will be deemed to
grant Nevro the right to market, sub-license or otherwise use the Pre-Existing
Property of GB other than in connection with the Deliverables or the Resulting
Property purchased from GB and products or services purchased from GB in which
they are incorporated. Notwithstanding anything in this Agreement to the
contrary, nothing in this Agreement will be deemed to grant Nevro the right to
make or have made any of GB’s feedthroughs, batteries or shields component
technology.  

 

(d)

Exhibit A of the Agreement is hereby amended by replacing it in its entirety
with Appendix I attached hereto.

 

 

(e)

Exhibit E of the Agreement is hereby amended by replacing it in its entirety
with Appendix II attached hereto.

 

 

(f)

Exhibit F of the Agreement is hereby amended by replacing it in its entirety
with Appendix III attached hereto.

 

SECTION 3: Confirmation of the Supply Agreement

 

 

(a)

Except as set forth in this Agreement, this Agreement shall not by implication
or otherwise, limit, impair, constitute a waiver of, or otherwise affect the
rights, remedies, duties and obligations of Nevro or GB under the Supply
Agreement.

 

SECTION 4: Termination of Guaranty

 

 

(a)

Nevro and GB hereby agree to terminate the Guaranty effective as of the
Effective Date.

 

 

SECTION 5: Miscellaneous

 

3

 

 

--------------------------------------------------------------------------------

 

 

(a)

Counterparts. This Agreement may be executed in two or more counterparts, each
of which shall be deemed an original and all of which shall constitute the same
instrument.

 

 

(b)

Entire Agreement. Regarding the subject matter above, this Agreement shall
supersede anything to the contrary in the Supply Agreement.

 

 

(c)

Terms Not Defined. Terms not defined herein shall have the meaning assigned to
them in the Supply Agreement.

 

[Remainder of page left intentionally blank.]

 

 

4

 

 

--------------------------------------------------------------------------------

 

IN WITNESS WHEREOF, the parties have caused this Amendment to be executed by
their duly authorized representatives as of the date first written above.

 

 

 

 

 

 

Nevro Corp.

 

Centro De Construccion de

 

 

 

Cardioestimuladores Del Uruguay S.A.

 

 

 

 

 

/s/ Andrew Galligan

 

/s/ Joel Becker

 

Signature

 

Signature

 

 

 

 

 

Andrew Galligan

 

Joel Becker

 

Name

 

Name

 

 

 

 

 

Chief Financial Officer

 

President, CRMN

 

Title

 

Title

 

 

 

 

 

3/6/2020

 

February 27, 2020

 

Date

 

Date

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Greatbatch Ltd.

 

 

 

 

 

 

 

 

 

 

 

/s/ Joel Becker

 

 

 

Signature

 

 

 

 

 

 

 

Joel Becker

 

 

 

Name

 

 

 

 

 

 

 

President, CRMN

 

 

 

Title

 

 

 

 

 

 

 

February 27, 2020

 

 

 

Date

 

 

 

--------------------------------------------------------------------------------

 

APPENDIX I

 

Exhibit A

Products

For IPG 1500, IPG 2000 and IPG 2500:

PRODUCTS

Minimum Purchase Thresholds

Lead Time

[***]

[***]

[***]

[***]

[***]

[***]

[***]

[***]

[***]

[***]

 

US-DOCS\115721061.1

--------------------------------------------------------------------------------

 

Pricing For IPG Model 1500:

IPG Model 1500

 

Product Unit Year

Price

[***]

[***]

[***]

[***]

[***]

[***]

[***]

[***]

[***]

[***]

[***]

[***]

 

The prices in the table above reflect incremental volume pricing (for example,
the price for the first [***] units in a Contract Year is [***] per unit and the
price for the next [***] units is [***] per unit in that Contract Year). The IPG
volumes above are measured by the volumes of units ordered during a Contract
Year.

 

 

7

 

 

--------------------------------------------------------------------------------

 

Pricing For IPG Model 2000 and IPG Model 2500:

Subject to the terms and conditions of the Agreement, Nevro commits to a Minimum
Purchase Threshold of [***]% of the IPG Model 2000 and IPG Model 2500 worldwide
requirements through the term of the Agreement.  Nevro’s Forecast provided on or
about December 31 of each year shall include Nevro’s projected volume of
Products and share commitment for the IPG Model 2000 and IPG Model 2500 Product
for the following Contract Year.  Nevro’s price per Product for each IPG Model
2000 and IPG Model 2500 Product for such Contract Year shall be determined based
upon such projected volume and share commitment in accordance with the following
tables:

 

Annual Units of Product

(Year [***])

[***]% share
commitment

[***]% share

commitment

[***]% share
commitment

PRICE

[***]

[***]

[***]

[***]

[***]

[***]

[***]

[***]

[***]

[***]

[***]

[***]

[***]

[***]

[***]

[***]

[***]

[***]

[***]

[***]

 

For [***] only, Nevro will purchase the first [***] units of IPG Model 2000 at
[***] Unit Volume Price (ref. $[***]) and the remainder of the IPG Model 2000
and Model 2500 units shipped in [***] will be at the [***] pricing tier (ref.
$[***]).  Volumes considered above are the combination of IPG Model 2000 and
Model 2500.  The [***] prices include a [***]% yield factor for [***] only.  

 

 

US-DOCS\115721061.1

--------------------------------------------------------------------------------

 

For year [***] and thereafter through the Term, the following tables will be
used to determine IPG Model 2000 and Model 2500 pricing. Note, the pricing is
different for each part number for each of the Products due to the GB-sourced
components in part numbers [***] and [***].

 

IPG Model 2000 and Model 2500:

 

Annual Units of Product

(Year [***]+)

[***]% share
commitment

[***]% share

commitment

[***]% share
commitment

PRICE

[***]

[***]

[***]

[***]

[***]

[***]

[***]

[***]

[***]

[***]

[***]

[***]

[***]

[***]

[***]

[***]

[***]

[***]

[***]

[***]

 

 

IPG Model 2000 (part number [***]) and Model 2500 (part number [***]):

 

Annual Units of Product

(Year [***]+)

[***]% share
commitment

[***]% share

commitment

[***]% share
commitment

PRICE

[***]

[***]

[***]

[***]

[***]

[***]

[***]

[***]

[***]

[***]

[***]

[***]

[***]

[***]

[***]

[***]

[***]

[***]

[***]

[***]

 

Volumes considered above are the combination of IPG Model 2000 and Model 2500.

 

On or about September 1 of each Contract Year, the parties shall meet to review
the next Contract Year Forecast and Nevro commitment and the per unit price for
the Products for the next Contract Year will be determined using the initial
forecasted volume’s price per the

 

 

 

US-DOCS\115721061.1

--------------------------------------------------------------------------------

 

appropriate pricing tier set out above. If the forecasted volume is within
[***]% of Products of the next tier’s volume break, the parties agree to set the
initial pricing at the higher price (i.e., lower volume) and review such pricing
twice per year for any material changes in the Forecast. A credit will be issued
to Nevro immediately and the per unit price will be reset once shipments
scheduled for delivery during the binding portion of the Forecast (pursuant to
Section 2.1) exceed the current volume/pricing tier and subsequent Purchase
Orders scheduled for delivery during the same Contract Year would be placed at
the lower price (i.e., higher volume pricing tier).  In the event that Nevro
purchases in any Contract Year an amount of Products which is less than the
initial Forecast for such Contract Year and the total amount of Products
purchased during such Contract Year is in a higher price tier than the price
tier offered based on the initial Forecast for such Contract Year, Nevro shall
make a payment to CCC, by the end of such Contract Year, an amount equal to
[***].

Certain Price Adjustments.  If Nevro agrees to purchase from GB or any of its
Affiliates a minimum of [***] percent ([***]%) of its finished leads products in
a Contract Year, Nevro shall receive an additional [***] percent ([***]%)
reduction in price for each IPG Model 2000 Product and IPG 2500 Product ordered
in accordance with such Forecast.  

 

 

 

US-DOCS\115721061.1

--------------------------------------------------------------------------------

 

APPENDIX II

 

Exhibit E

Approved Facilities

 

 

[***]

 

 

 

US-DOCS\115721061.1

--------------------------------------------------------------------------------

 

APPENDIX III

 

Exhibit F

Bill of Materials

[***]

 

US-DOCS\115721061.1