Document:

Exhibit

Exhibit 10.1

HEADS OF AGREEMENT
These Heads of Agreement (“Heads”) are made this 13th June 2016
BETWEEN
OLD MUTUAL PLC a public limited company registered in England and Wales with number 03591559 and having it registered office at 5th floor, Millennium Bridge House, 2 Lambeth Hill, London, EC4V 4 GG (“OM”); and
OM ASSET MANAGEMENT PLC a public limited company registered in England and Wales with number 09062478 and having it registered office at Gound Floor, Millennium Bridge House, 2 Lambeth Hill, London, EC4V 4 GG (“OMAM”).

WHEREAS:
		
	A.
	The parties and/or certain of their respective wholly owned subsidiaries are party to a Seed Capital Management Agreement dated 8 October 2014 (“Agreement”), as amended. 

		
	B.
	The parties are entering into these Heads for and on behalf of themselves and those wholly owned indirect subsidiaries.

		
	C.
	The parties wish to amend the Agreement in the terms provided for in these Heads.

IT IS AGREED:
		
	1.
	These Heads are supplemental to the Agreement and terms defined in the Agreement shall have the same meanings when used in these Heads unless otherwise specifically defined in these Heads. The parties will procure the preparation of a detailed Amending Agreement (“Amending Agreement”) and the execution thereof on or before [June 30, 2016] by all parties to the Agreement amending the terms of the Agreement in accordance with the terms of these Heads.

		
	2.
	The current Budget provides for Seed Capital Investments to be made or maintained pursuant to the Agreement of up to the dollar amount of US$150 million. The existing dollar amount of Seed Capital Investments so made or maintained is approximately US$112 million, based on the net asset value as reported on March 31, 2016.

		
	3.
	Within 10 Business Days of OM notifying OMAM (such notification not to be given before 30 June 2016) that Seed Capital Investments in a dollar amount of approximately US$58 million have been transferred by Millpencil to OM (or its affiliate) (the “Transferred Investments”), OMAM shall (i), cause the redemption of all or a portion of the Transferred Investments pursuant to the applicable Investment Management Agreement, and (ii) purchase from OM (or its affiliate) the remaining Transferred Investments at the most recent net asset value (the aggregate proceeds of such redemptions and such purchases, the “Transferred Proceeds”).

		
	4.
	With effect from the date of the receipt by OM of the Transferred Proceeds as provided for above through to 30 June 2017, the Budget shall be US$100 million.

		
	5.
	Within 10 Business Days of 30 June 2017, OMAM shall purchase from OM (or its affiliate, as applicable) at the 30th June 2017 valuation thereof reported to OM under clause 6 of the Agreement the Seed Capital Investments maintained by OMAM pursuant to the Agreement as at 30th June 2017.

		
	6.
	Following discharge of all obligations provided for in these Heads and in the Amending Agreement, the Agreement (as so amended) shall terminate and be of no further effect.

		
	7.
	These Heads shall be governed by and construed in accordance with the Laws of England and Wales and are expressly  agreed by the parties to be legally binding and intended to create legally binding relations and the parties hereto acknowledge the receipt of good and sufficient consideration for their obligations hereunder.

EXECUTED AS A DEED BY

OM ASSET MANAGEMENT PLC             OLD MUTUAL PLCExhibit

Exhibit 10.2

HEADS OF AGREEMENT
These Heads of Agreement (“Heads”) are made this 13th June 2016
BETWEEN
OM GROUP (UK) LIMITED a company registered in England and Wales with number 03591572 and having it registered office at 5th floor, Millennium Bridge House, 2 Lambeth Hill, London, EC4V 4 GG (“OMGUK”); and
OM ASSET MANAGEMENT PLC a public limited company registered in England and Wales with number 09062478 and having it registered office at Ground Floor, Millennium Bridge House, 2 Lambeth Hill, London, EC4V 4 GG (“OMAM”).

WHEREAS:
		
	A.
	The parties are party to a Deferred Tax Asset Deed dated 29 September 2014 (“Agreement”).

		
	B.
	The parties wish to amend the Agreement in the terms provided for in these Heads.

IT IS AGREED:
		
	1.
	These Heads are supplemental to the Agreement and terms defined in the Agreement shall have the same meanings when used in these Heads unless otherwise specifically defined in these Heads. The parties will procure the preparation of a detailed Amending Agreement (“Amending Agreement”) and the execution thereof by all parties to the Agreement amending the terms of the Agreement in accordance with the terms of these Heads.

		
	2.
	OMAM will provide to OMGUK by no later than February 15, 2017, a calculation of the net present value of the total further payments to be made by OMAM to OMGUK under the Agreement for all periods following 31 December 2016 using a discount rate of 8.5%. Such calculation shall be supported by acceptable backup as agreed between the parties.

		
	3.
	Within 15 Business Days following receipt of the calculation provided for in 2 above, OMGUK shall notify OMAM as to whether or not it agrees with said calculation. If OMGUK notifies OMAM that it agrees then that calculation shall be the basis for the payment provided for in 4 below. If OMGUK notifies OMAM that it does not agree that calculation then the parties shall attempt to agree modifications to such calculation. If agreement is not reached within 20 Business Days of OMGUK notifying its initial disagreement as aforesaid then the matters in dispute between the parties shall be resolved by reference to the dispute resolution procedures set out in the Agreement. The calculation so agreed or determined by reference to the said dispute resolution procedures shall form the basis of the calculation of the payments to be made by OMAM to OMGUK pursuant to 4 below.

		
	4.
	The aggregate payment (as so agreed or determined) to be paid by OMAM to OMGUK as described in 2 above will be divided into three equal parts and each such part shall be forward valued (using a quarterly discount rate that produces an annual rate of 8.5%) and payable on 30 June 2017, 31 December 2017 and 30 June 2018.

		
	5.
	For the avoidance of doubt, those provisions of the Agreement providing for payments to be made by OMGUK to OMAM by reference to payments by OMAM to OMGUK turning out to be over payments by reference to actual Realised Tax Benefits being smaller than those assumed for the purposes of any payment made by OMAM to OMGUK shall continue to apply mutatis mutandis to the payment made by OMAM to OMGUK pursuant to 4 above (and for the avoidance of doubt shall continue to apply to all prior payments made by OMAM to OMGUK pursuant to the Agreement). 

		
	6.
	These Heads shall be governed by and construed in accordance with the Laws of England and Wales and are expressly  agreed by the parties to be legally binding and intended to create legally binding relations and the parties hereto acknowledge the receipt of good and sufficient consideration for their obligations hereunder.

EXECUTED AS A DEED BY

OM ASSET MANAGEMENT PLC             OM GROUP (UK) LIMITEDExhibit 10.1

 

 

November 19, 2013

 

InspireMD, Inc.

800 Boylston Street, Suite 1600

Boston, MA 02199

Attn: Craig Shore

 

AMENDMENT NO. 1

 

		Re:	Loan and Security Agreement dated as of October 23, 2013 (as may be amended from time to time) by and between InspireMD, Inc.
and Inspire M.D LTD (individually and collectively, referred to as “Borrower”) and Hercules Technology Growth Capital,
Inc. (“Lender”) (the“Agreement”)

 

This letter will serve as an amendment by
Lender of the requirement set forth in Section 7.1(b) of the Agreement that Borrower deliver to Lender its unaudited interim and
year-to-date financial statements as of the end of such calendar quarter within 30 days after the end of each calendar quarter.
The reference to “30” days in such Section is hereby replaced with “45” days. Subject to the applicable
grace period set forth in Section 9.2 of the Agreement, failure to do so shall result in an Event of Default under the Agreement.

 

The foregoing amendment is limited to the
modification described herein and the Agreement shall otherwise remain unchanged in all respects.

 

Should you have any questions regarding
this amendment No. 1, please do not hesitate to call me at (650) 289-3078.

 

	AGREED AND ACKNOWLEDGED BY:
	 
	HERCULES TECHNOLOGY GROWTH CAPITAL, INC.
	 	 
	/s/ Ben Bang	 
	Name: Ben Bang	 
	Title: Senior Counsel	 
	 	 
	INSPIREMD, INC.	 
	 	 
	/s/ Craig Shore	 
	Name: Craig Shore	 
	Title: CFO	 
	 	 
	INSPIRE M.D. LTD.	 
	 	 
	/s/ Craig Shore	 
	Name: Craig Shore	 
	Title: CFO	 

 

	400
    Hamilton Avenue
	Suite
    310
	Palo
    Alto, CA  94301
	 
	650.289.3060
	650.473.9194
	www.HerculesTech.comExhibit 10.2

 

 

July 23, 2014

 

InspireMD, Inc.

800 Boylston Street, Suite 1600

Boston, MA 02199

Attn: Craig Shore

 

AMENDMENT NO. 2

 

			Re:        Loan and Security Agreement dated as of October 23, 2013 (as may be amended
from time to time) by and between InspireMD, Inc. and Inspire M.D LTD (individually and collectively, referred to as “Borrower”)
and Hercules Technology Growth Capital, Inc. (“Lender”) (the“Agreement”)

 

This letter will serve as an amendment by
Lender of the requirement set forth in Section 7.14 of the Agreement. Section 7.14 is hereby amended and restated as follows:

 

7.14 Designated Account. Maintain at all times in
the Designated Account cash and cash equivalents, which shall be deemed to include (even though not held in the Designated Account)
cash collected from Receivables by Inspire M.D Ltd. and InspireM.D GmbH within the previous 7 days, and cash transferred to Inspire
M.D Ltd. (outside of the Designated Account) for the settlement of Permitted Indebtedness within the following 7 days, in each
unrestricted and unencumbered, in an aggregate amount of at least the lesser of (a) an amount equal to one hundred percent (100.0%)
of the then outstanding principal amount of the Term Loan Advance and (b) an amount equal to seventy-five percent (75.0%) of the
aggregate amount of all of Borrower’s worldwide cash and cash equivalents.

 

The foregoing amendment is limited to the
modification described herein and the Agreement shall otherwise remain unchanged in all respects.

 

Should you have any questions regarding
this amendment No. 2, please do not hesitate to call me at (650) 289-3078.

 

	AGREED AND ACKNOWLEDGED BY:
	 
	HERCULES TECHNOLOGY GROWTH CAPITAL, INC.
	 	 
	/s/ Ben Bang	 
	Name: Ben Bang	 
	Title: 	 

 

     

     

    

 

	INSPIREMD, INC.	 
	 	 
	/s/ Craig Shore 	 
	Name: Craig Shore	 
	Title: CFO	 
	 	 
	INSPIRE M.D. LTD.	 
	 	 
	/s/ Craig Shore 	 
	Name: Craig Shore	 
	Title: CFO	 

 

	400
    Hamilton Avenue
	Suite
    310
	650.289.3060
	 
	Palo
    Alto, CA  94301
	650-289-3060
	650.473.9194
	www.HerculesTech.com

 

    	- 2 -

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