Document:

Exhibit
4.3

 

AMENDED
& RESTATED INTERCOMPANY SERVICES AGREEMENT

 

This
Intercompany Services Agreement (this “Agreement”) is made effective as of April 20, 2020 (the “Effective
Date”), by and between Medigus Ltd., a company incorporated under the laws of the State of Israel (“Parent”)
and ScoutCam Ltd., a subsidiary of Parent, incorporated under the laws of the State of Israel (“Company”).

 

R
E C I T A L S

 

WHEREAS,
the Company is a subsidiary of Parent;

 

WHEREAS,
Parent desires to hire and retain Company to perform certain services as described in this Agreement and Company desires to perform
such services for the consideration set forth herein; and

 

WHEREAS,
Company and Parent have previously entered into an Intercompany Services Agreement, and both parties wish to amend and restate
such agreement in accordance with the terms contained herein.

 

NOW,
THEREFORE, in consideration of the terms and conditions and mutual agreements contained herein, it is agreed as follows;

 

		1.	The
                                         Services 

 

		1.1.	During
                                         the term of this Agreement, Company shall provide Parent with such services as set forth
                                         in Exhibit A and such other services as may be requested by the Parent
                                         and agreed upon by the Company from time to time (all such services shall be referred
                                         to herein as the “Services”). Exhibit A shall be updated
                                         from time to time by a mutual consent of the parties.

 

		1.2.	Company
                                         shall provide the Services through its employees and/or independent contractors who have
                                         contracted with the Company (at Company’s discretion).

 

		1.3.	In
                                         connection with the Services, neither the Parent nor the Company shall be authorized
                                         to negotiate or enter into any agreement on behalf of the other party hereto, nor shall
                                         it be authorized to undertake any obligations, commitments or liabilities on behalf of
                                         any other party hereto. Without limiting the foregoing, neither the Parent nor the Company
                                         shall have, or hold itself out or otherwise transact business in such as a way as to
                                         create the impression to unrelated third parties that it has, the authority to enter
                                         into contracts with or on behalf of any other Party hereto.

 

		1.4.	During
                                         the term of this Agreement, Company shall use commercially reasonable efforts to perform
                                         the Services as Parent may reasonably request. Notwithstanding the foregoing, Company
                                         does not warrant or guarantee that any Services will be successful or accomplished in
                                         a timely manner or that any Service will be commercially viable. Company shall hot be
                                         liable to Parent for the failure to perform any Service in accordance with this Agreement.

 

		1.5.	All
                                         intangibles rights resulting from or in connection with the Services, shall be the sole
                                         property of the Company, including without limitation: (i) patents and patent applications,
                                         including without limitation any extensions, divisions, continuations, continuations-inpart
                                         thereof and any applications or patents that claim priority from such patents and applications,
                                         and any foreign counterparts of any of the foregoing; (ii) trade secrets, ideas, processes,
                                         inventions (whether patentable or not), discoveries, concepts, methods, formulas, other
                                         proprietary information and associated intellectual and industrial property rights; and
                                         (iii) copyrights, software, designs, documentation, lab notes, and other works subject
                                         to protection under copyright law, whether or not registered; and (iv) trademarks, trade
                                         names, brand names, designs, packaging, service marks, logos, and any similar assets,
                                         rights or property, whether or not registered; and (v) marketing strategies, customer
                                         lists, surveys, studies, forecasts, estimates and other marketing information.

 

     

     

    

 

		2.	Relationship
                                         of the Parties 

 

		2.1.	Independent
                                         Contractors. Nothing contained in this Agreement is intended or is to be construed
                                         to constitute Company and Parent as partners or joint ventures, or Parent as an employee
                                         or agent of Company, or the employees or agents of Parent as employees or agents of Company.
                                         Neither party hereto shall have any express or implied right or authority to assume or
                                         create any obligation on behalf of or in the name of the other party or to bind the other
                                         party to, any contract, agreement or undertaking with any third party.

 

		2.2.	Indemnity.
                                         Parent hereby agrees to indemnify and hold Company harmless from any and all claims demands,
                                         actions, suits, liabilities and losses, costs and expenses of any kind or character on
                                         account of direct damages or losses to persons or property from any cause arising out
                                         of or in connection with the performance of Services under this Agreement.

 

		3.	Consideration

 

		3.1.	Compensation.
                                         In consideration for the Company’s performance of the Services, Company shall be
                                         entitled to arm’s length service fees based on the most recent transfer pricing
                                         analysis as performed by an external expert, as may be adjusted from time to time and
                                         as initially set forth in Exhibit A (the “Consideration”). The Parent agrees
                                         to pay the amounts due under this Agreement in accordance with the terms set forth in
                                         this Section 3.

 

		3.2.	Review
                                         of Services Fees. The Consideration set out in Section 3.1 above shall be reviewed
                                         by the Company and Parent, and modified prospectively as required to conform to the “arm’s
                                         length” requirements of applicable tax rules. If either the Company or Parent considers
                                         that the Consideration is not equate to arm’s length pricing, either party may
                                         give notice for the pricing to be reviewed. If any change is agreed to, based on this
                                         review, such change may be made effective the date the notice to review was given.

 

		3.3.	Manner
                                         of Payment. Payment of the Consideration shall be made directly to Company or
                                         to such bank or in any other manner as is designated by Company. All payments made by
                                         the Parent to Company shall be in U.S. Dollars, unless otherwise agreed to by both parties.
                                         In addition the Parent may cause third parties investing or owing money to the Company
                                         to transfer such payments directly to the Company and such amounts shall be deemed as
                                         transferred from the Parent to the Company as payment of the Consideration.

 

		3.4.	Billing.
                                         Unless otherwise agreed upon by the parties, at the end of each calendar quarter, Company
                                         shall send an invoice to the Parent with respect to the payments due. The invoiced amount
                                         shall be due and payable within thirty (30) days following the receipt of such invoice.

 

		3.5.	Taxes.
                                         The Parent shall withhold from payments such taxes as required to be withheld under applicable
                                         law. If any tax is withheld by the Parent, it shall provide the Company with receipts
                                         or other evidence of such withholding and payment to the appropriate tax authorities.
                                         The Company agrees to not withhold any taxes, or to withhold at a reduced rate, to the
                                         extent that the Company is entitled to an exemption from, or reduction in the rate of,
                                         withholding under an applicable income tax treaty. VAT shall be added against tax invoice.

 

		4.	Reporting
                                         Requirements

 

		4.1.	Books
                                         and Records. Company shall keep and maintain adequate books, records and files
                                         of the transactions underlying the payments of the Consideration to be made hereunder,
                                         in order to enable it to furnish complete and accurate information to Parent regarding
                                         all aspects of the Services and expenditures fund Parent shall have the right, upon reasonable
                                         notice and at its expense to inspect, audit, or have an audit performed of, Company’s
                                         books and records relating to the expenditure of funds under this Agreement.

 

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		4.2.	Reports.
                                         Company shall from time to time, and as often as reasonably requested by Parent, provide
                                         written reports to Parent regarding its performance of the Services, describing a detailed
                                         report of costs incurred. Company shall promptly notify the Parent of any significant
                                         problems that may occur during the course of the Services.

 

		5.	Confidentiality

 

		5.1.	As
                                         a result of its performance of Services under this Agreement, Company and its employees,
                                         agents, and subcontractors will become uniquely knowledgeable with respect to the technology.
                                         Company hereby agrees not to disclose to others or to use for its own benefit, without
                                         Parent’s prior written consent, any of Company confidential information to which
                                         it had access to during the course of providing the Services.

 

		5.2.	Company
                                         shall use its best efforts to assure that its employees, agents, and subcontractor do
                                         not make any such unauthorized disclosures. Company further agrees that its employees,
                                         agents, and subcontractors who are hired or retained by it to perform any of the Services
                                         shall have executed agreements, acceptable to Parent, whereby they agree to hold in confidence
                                         all proprietary, trade secret and any other confidential information to which they have
                                         access during the course of their duties as employees, agents, or subcontractors of Company
                                         and to assign to Parent any and all rights they may have or may acquire respecting the
                                         improvements in the course of performing the Services.

 

		6.	Term
                                         and Termination

 

		6.1.	Term.
                                         This Agreement shall continue in force for a fixed term of one (1) year’ from the
                                         Effective Date unless terminated earlier under the provisions of this Section 6. At the
                                         end of the fixed term, this Agreement shall renew automatically for additional one (1)
                                         year terms (subject to earlier termination under the provisions of this Section 6), without
                                         notice, unless prior to that time one party provides a 60 days prior written notice of
                                         nonrenewal to the other party.

 

		6.2.	Termination
                                         for Convenience. This Agreement may be terminated by either party for any reason
                                         or no reason, whether or not extended beyond the first year by giving the other party
                                         60 days prior written notice.

 

		6.3.	Termination
                                         for Insolvency. This Agreement shall terminate immediately without notice: (i)
                                         upon the institution by or against Company or Parent of insolvency, receivership by or
                                         bankruptcy proceedings for the settlement of Company’s or Parent’s debts;
                                         (ii) upon Company’s or Parent’s making an assignment for the benefit of creditors;
                                         or (iii) upon Company’s or Parent’s dissolution or liquidation,

 

		6.4.	Transition.
                                         Upon termination or expiration of this Agreement, each party shall diligently cooperate
                                         with the other to effect a smooth and orderly transition. From the time that a notice
                                         of termination is received by either party until the effective termination date, each
                                         party shall fully cooperate with any newly appointed party performing the duties contemplated
                                         hereunder.

 

		6.5.	Limitation
                                         on Liability. In the event of termination by either party in accordance with
                                         any of the provisions of this Agreement, neither party shall be liable to the other because
                                         of such termination for compensation, reimbursement or damages on account of the loss
                                         of prospective profits or anticipated sales or on account of expenditures investments,
                                         leases or commitments in connection with the business or goodwill of Parent or Company.

 

		6.6.	Survival
                                         of Certain Terms. The provisions of Sections 2, 5, 6.4, 6.5,
                                         and 7 shall survive the termination or expiration of this Agreement for any reason.
                                         All other rights and obligations of the parties shall cease upon termination or expiration
                                         of this Agreement.

 

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		7.	Miscellaneous

 

		7.1.	Governing
                                         Law and Jurisdiction. All questions, concerning this Agreement, including but
                                         not limited to, the validity, operation, interpretation and construction thereof, shall
                                         be governed by and determined in accordance with the laws of the State of Israel. The
                                         parties hereto agree that all actions and proceedings arising out of or relating directly
                                         or indirectly to this Agreement shall be brought exclusively to the courts located in
                                         the District of Tel Aviv Yafo.

 

		7.2.	Entire
                                         Agreement. This Agreement sets forth the entire agreement and understanding of
                                         the parties relating to the subject matter herein and merges all prior discussions between
                                         them. No modification of or amendment to this Agreement, nor any waiver of any rights
                                         under this Agreement shall be effective unless in writing and signed by the party to
                                         be charged.

 

		7.3.	Notices.
                                         Any notice required or permitted by this Agreement shall be in writing and shall be deemed
                                         given if sent by prepaid registered or certified airmail, return receipt requested (if
                                         available), or sent by telex, facsimile or similar communication, and confirmed by such
                                         airmail, postage prepaid, addressed to each respective party at its principal address.

 

		7.4.	Force
                                         Majeure. Nonperformance of either party shall be excused to the extent that performance
                                         is rendered impossible by Strike, fire, flood, governmental acts, orders or restrictions,
                                         or any other reason where failure to perform is beyond the control and not caused by
                                         the negligence of the non-performing party, provided that the non-performing party uses
                                         its reasonable best efforts to promptly resume performance once it is possible to do
                                         so.

 

		7.5.	Non-Assignability
                                         and Binding Effect. This agreement may not be assigned by any party without the
                                         prior written consent of the other party.

 

		7.6.	Counterparts.
                                         This Agreement may be executed in two or more counterparts; each of which shall be deemed
                                         an original.

 

[Signature
page to follow]

 

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IN
WITNESS HEREOF the parties hereto have executed this Amended and Restated Intercompany Services Agreement as of the day and
year first written above.

 

	ScoutCam
    Ltd.	 	Medigus
    Ltd. 
	 	 	 	 	 
	By:	/s/
    Yaron Silberman /s/ Tanya Yosef	 	By:	/s/
    Liron Carmel /s/ Tanya Yosef
	Name:	Yaron
    Silberman / Tanya Yosef	 	Name:	Liron
    Carmel / Tanya Yosef
	Title:	CEO /
    CFO	 	Title:	CEO /
    CFO

 

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Exhibit
A

 

Services

 

	Service  	 	Consideration  
	Lease
    – lease of office space and clean room from Parent, located at Omer Industrial Park No. 7A, P.O. Box 3030, 8496500,
    Israel	 	Based
                                         on actual space utilized by Parent

        Shared
        space - According to Parent-Company space usage ratio.

	 	 	 
	Utilities
    - electricity water, IT and communication services (including internet and telephone), etc.	 	Based
    on Parent-Company employee ratio and actual costs incurred
	 	 	 
	Car
    Services - Car services, including car rental, gas usage, payment for toll roads, etc.	 	100%
    of expense incurred from a Company employee car   
	 	 	 
	Insurance
    - directors and officers insurance	 	Parent
    shall pay $150,000 of the annual premium.
	 	 	 
	CFO
    Services – CFO service services	 	50%
    of Parent CFO employer cost
	 	 	 
	Direct
    Expense - every direct expense of the Company that is paid by Parent in its entirety  	 	100%
                                         of the Direct Expense

        The
        Parent and the Company shall approve Direct Expenses in advance.

	 	 	 
	Mutual
    Expense - any other mutual expense that is borne by the parties  	 	Respective
                                         portion of the Mutual Expense

        The
        Parent and the Company shall approve Mutual Expenses in advance.

 

***

 

 

6Exhibit 10.1

 

ASSET
TRANSFER AGREEMENT

 

THIS ASSET TRANSFER
AGREEMENT, dated as of April 19, 2020 (this “Agreement”),
effective as of_January 20, 2020 is entered into by and between Medigus Ltd., a company organized under the laws of the State of
Israel (the “Transferor”), and GERD IP, Inc.,
a Delaware corporation (“Transferee”). The Transferor
and Transferee are referred to hereunder as the “Parties”,
and each of them individually as a “Party”.

 

W
I T N E S S E T H :

 

		WHEREAS	the Transferor desires to transfer and assign to the
Transferee, and the Transferee desires to assume from the Transferor, the Transferred Assets (as defined below), all as more,
specifically provided herein and upon the terms and subject to the conditions set forth herein.

 

NOW, THEREFORE in consideration of the
premises and the mutual representations, warranties, covenants and agreements hereinafter set forth, the parties hereby agree as
follows:

 

1. TRANSFER
OF ASSETS: ASSUMPTION OF LIABILITIES

 

1.1. Transfer
of Assets. On the terms and subject to the
conditions set forth in this Agreement, at the Closing, the Transferor shall transfer, assign, convey and deliver to the Transferee
and the Transferee shall accept and assume from the Transferor, all of the Transferor’s rights, titles and interests in,
to and under the transferred assets listed on the Assignment of Patent Rights attached hereto as Schedule
1.1 (the “Transferred Assets”), free
and clear of any Liens.

 

1.2. No
Representations. The Transferred Assets are
transferred by the Transferor on an “as is” basis, namely, their state or condition on the date hereof and on the Closing
Date, whether or not any fact, act or circumstance of any nature whatsoever relating thereto is known, disclosed or discussed,
and regardless of any investigation, inquiry or disclosure that was or could have been made, and whether or not any fact or circumstance
is different than expected by the Transferee, and without receiving or relying on any representations or warranties with respect
to such matters from the Transferor and its Representatives, except for the Transferor’s title in the applicable Transferred
Assets being on the Closing Date free and clear of Liens.

 

2. CONSIDERATION;
TAXES.

 

2.1. In
consideration for the Transferred Assets, the Transferee shall issue to the Transferor seven (7) capital notes, each in an amount
equal to two million US dollars (US$2,000,000) (the “Capital Notes”)
in the form attached hereto as Schedule 2.1.

 

2.2. Any
tax consequences arising from the sale and assignment or any other event or act hereunder, shall be borne solely by the Transferor.

 

3. CLOSING

 

3.1. Closing
Date. The closing of the transfer of the Transferred
Assets (the “Closing”) shall take place on the
date hereof unless another time or date are agreed by the Parties (the date on which the Closing occurs, the “Closing
Date”). The actions and occurrences to occur prior to or at the Closing shall be deemed to have occurred simultaneously
and no action shall be deemed to have been completed and no document or certificate shall be deemed to have been delivered, until
all actions are completed and all documents and certificates are delivered.

 

3.2. Transferee’s
Closing Deliverables. The Transferee shall
deliver or shall cause to be delivered to the Transferor, at or prior to the Closing:

 

(a) Capital
Notes, duly executed by the Transferee;

 

3.3. Transferor
Closing Deliverables:
The Transferor shall deliver or shall cause to be delivered
to the Transferor, at or prior to the Closing:

 

(a) Patent
Assignment Form, duly executed by the Transferor;

 

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4. MISCELLANEOUS.

 

4.1. Entire
Agreement. This Agreement (including the schedules
and exhibits hereto) represents the entire understanding and agreement between the Parties hereto with respect to the subject matter
hereof and supersede all prior agreements and understandings, both written and oral (with no concession being made as to the existence
of any such agreements and understandings), among the Parties hereto with respect to the subject matter hereof.

 

4.2. Amendments
and Waivers. This Agreement may be amended,
supplemented or changed, and any provision hereof can be waived, only by written instrument signed by the parties hereto, or in
case of a waiver by the party against whom enforcement of any such amendment, supplement, modification or waiver is sought. No
action taken pursuant to this Agreement, including without limitation, any investigation by or on behalf of any party, shall be
deemed to constitute a waiver by the party taking such action of compliance with any representation, warranty, covenant or agreement
contained herein. The waiver by any party hereto of a breach of any provision of this Agreement shall not operate or be construed
as a further or continuing waiver of such breach or as a waiver of any other or subsequent breach. No failure on the part of any
party to exercise, and no delay in exercising, any right, power or remedy hereunder shall operate as a waiver thereof, nor shall
any single or partial exercise of such right, power or remedy by such party preclude any other or further exercise thereof or the
exercise of any other right, power or remedy.

 

4.3. No
Third Party Beneficiaries; Assignment. Nothing
in this Agreement shall create or be deemed to create any third party beneficiary rights in any person or entity not a party to
this Agreement, but other than rights expressly granted to Representatives of a party hereunder. No assignment of this Agreement
or of any rights or obligations hereunder may be made (by operation of law or otherwise) by the Transferor or the Transferee without
the prior written consent of the other party hereto and any attempted assignment without the required consents shall be void; provided,
however, that after Closing, either party may assign this Agreement and any or all rights or obligations hereunder to any Affiliate.

 

4.4. Governing
Law; Jurisdiction. This Agreement shall be
governed by and construed in accordance with the laws of the State of Israel, without giving effect to the rules of conflict of
laws thereof. Each of the parties hereto irrevocably consents to the exclusive jurisdiction and venue of any competent court located
in Tel Aviv-Jaffa, Israel, in connection with any matter based upon or arising out of this Agreement or the matters contemplated
herein, agrees that process may be served upon them in any manner authorized by the laws of the State of Israel for such persons
and waives and covenants not to assert or plead any objection which they might otherwise have to such jurisdiction and such process.

 

4.5. Severability.
If any term or other provision of this Agreement is invalid, illegal, or incapable of being enforced by any law or public policy,
all other terms or provisions of this Agreement shall nevertheless remain in full force and effect so long as the economic or legal
substance of the transactions contemplated hereby is not affected in any manner materially adverse to any party. Upon such determination
that any term or other provision is invalid, illegal, or incapable of being enforced, the parties hereto shall negotiate in good
faith to modify this Agreement so as to effect the original intent of the parties as closely as possible in an acceptable manner
in order that the transactions contemplated hereby are consummated as originally contemplated to the greatest extent possible.

 

4.6. Counterparts.
This Agreement may be executed in one or more counterparts, each of which shall be deemed an original and enforceable against the
parties actually executing such counterpart, and all of which together shall be considered one and the same agreement, it being
understood that all parties need not sign the same counterpart. The exchange of an executed Agreement (in counterparts or otherwise)
by facsimile transmission or by electronic delivery in .pdf format or the like shall be sufficient to bind the parties to the terms
and conditions of this Agreement, as an original.

 

- Signature Pages Follow -

 

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IN WITNESS WHEREOF, the parties hereto
have caused this ASSET TRANSFER AGREEMENT to be executed by their respective officers thereunto duly authorized, as of the date
first written above.

 

	Medigus Ltd.	 	GERD IP, Inc. 
	 	 	 	 	 
	By:	/s/ Liron Carmel	 	By:	/s/ Eli Yoresh
	Name: 	Liron Carmel	 	Name: 	Eli Yoresh
	Title:	Chief Executive Officer	 	Title:	President & Chief Executive Officer

 

(Signature
page to Asset Transfer Agreement)

 

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SCHEDULE 1.1

 

Assignment of Patent Rights

 

[***]

 

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SCHEDULE 2.1

 

CAPITAL NOTE #__

 

As of

 

January 20, 2020 (“Effective Date”)

 

By

 

GERD IP, Inc., a corporation duly organized
and existing under the laws of the State of Delaware with a registered office at 251 Little Falls Drive, Wilmington, New Castle
19808 (the “Corporation”)

 

For

Medigus Ltd. a corporation duly organized
and existing under the laws of the State of Israel with its principal address at Omer Industrial Park, No. 7A, P.O. Box 3030 Omer
8496500 Israel (the “Holder”)

 

		1.	This capital note (the “Note”) is granted by the Corporation to the Holder in
the principal amount of US$ 2,000,000 (two million US dollars) (the “Principal Amount”).

 

		2.	Terms of the Note:

 

		a.	Interest. The Principal Amount shall bear no interest
or any linkage to any index.

 

		b.	Repayment. The Principal Amount shall become due after the fifth anniversary of the Effective Date
(the “Maturity Date”). Repayment shall be made in US dollars.

 

		c.	Voting Rights. The Note shall not grant the Holder any rights in the share capital of the Corporation
such as voting rights, other consensual rights, and similar rights attached to the shares issued by the Corporation, to the Holder.

 

		d.	Subordinated Repayment. Until the Maturity Date, the repayment of the Principal Amount shall be
subordinated to any amount, whether secured or unsecured, due by the Corporation to all creditors of the Corporation, and will
only be senior to the distribution of the Corporation's assets to its shareholders upon the Corporation's insolvency or liquidation,
dissolution or winding-up, voluntary or involuntary.

 

		3.	This Note shall be binding on the successors and permitted assigns of the Corporation and shall
inure to the benefit of the Holder its successors and assigns; provided, however, that this note may not be, directly or indirectly,
sold, assigned, transferred or disposed of in any way whatsoever to any person by any of the parties hereto, absent the prior written
consent of the other party, which consent shall not be unreasonably withheld.

 

		4.	None of the terms of this Note may be amended or otherwise waived except by an instrument executed
by both parties hereto

 

		5.	This note shall be governed by the laws of the State of Israel. The parties agree that the courts
of the Tel-Aviv district shall have the exclusive jurisdiction in connection with this Note.

 

 

	GERD IP, Inc.	 
	By: Eli Yoresh, President & Chief Executive Officer	 
	 	 
	Accepted by: Medigus Ltd.	 
	 	 
	 	 
	By: Liron Carmel, Chief Executive Officer	 

 

 

5

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