Document:

Exhibit 10.9

 

PRIVATE PLACEMENT WARRANTS PURCHASE AGREEMENT

 

THIS PRIVATE PLACEMENT WARRANTS PURCHASE AGREEMENT,
dated as of January [●], 2022 (as it may from time to time be amended, this “Agreement”), is entered into by
and between LIV Capital Acquisition Corp. II, a Cayman Islands exempted company (the “Company”), and EarlyBirdCapital,
Inc., a Delaware corporation (the “Purchaser”).

 

WHEREAS:

 

The Company intends to consummate an initial public
offering of the Company’s units (the “Public Offering”), each unit consisting of one Class A ordinary share of
the Company, par value $0.0001 per share (each, an “Ordinary Share”), and three quarters of one warrant;

 

Each whole warrant entitles the holder to purchase
one Ordinary Share at an exercise price of $11.50 per Ordinary Share; and

 

The Purchaser has agreed to purchase an aggregate
of 500,000 warrants (the “Private Placement Warrants”), each Private Placement Warrant entitling the holder to purchase
one Ordinary Share at an exercise price of $11.50 per Ordinary Share.

 

NOW THEREFORE, in consideration of the mutual promises
contained in this Agreement and other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the
parties to this Agreement hereby, intending legally to be bound, agree as follows:

 

AGREEMENT

 

Section 1. Authorization, Purchase and Sale;
Terms of the Private Placement Warrants.

 

(a) Authorization of the Private Placement Warrants.
The Company has duly authorized the issuance and sale of the Private Placement Warrants to the Purchaser.

 

(b) Purchase and Sale of the Private Placement
Warrants.

 

(i) On the date of the consummation
of the Public Offering or on such earlier time and date as may be mutually agreed by the Purchaser and the Company (the “Closing
Date”), the Company shall issue and sell to the Purchaser, and the Purchaser shall purchase from the Company, 500,000 Private
Placement Warrants at a price of $1.00 per warrant for an aggregate purchase price of $500,000 (the “Purchase Price”),
which shall be paid by wire transfer of immediately available funds to the Company at least one day prior to the Closing Date in accordance
with the Company’s wiring instructions. On the Closing Date, following the payment by the Purchaser of the Purchase Price by wire
transfer of immediately available funds to the Company, the Company, at its option, shall deliver a certificate evidencing the Private
Placement Warrants purchased on such date duly registered in the Purchaser’s name to the Purchaser or effect such delivery in book-entry
form.

  

(c) Terms of the Private Placement Warrants.

 

(i) Each Private Placement Warrant shall
have the terms set forth in a Warrant Agreement to be entered into by the Company and a warrant agent, in connection with the Public Offering
(a “Warrant Agreement”), and shall be subject to the terms of a letter agreement, dated as of the date hereof, to be
entered into by the Company, the Purchaser and the other parties thereto, in connection with the Public Offering.

 

(ii) At the time of, or prior to, the
Closing Date, the Company and the Purchaser shall enter into a registration rights agreement (the “Registration Rights Agreement”)
pursuant to which the Company will grant certain registration rights to the Purchaser relating to the Private Placement Warrants and the
Ordinary Shares underlying the Private Placement Warrants.

 

    

     

    

 

(iii) The Private Placement Warrants
have been deemed compensation by FINRA and are therefore subject to a lock-up for a period of 180 days immediately following the date
of the effectiveness of the registration statement pursuant to FINRA Rule 5110(e)(1). Pursuant to FINRA Rule 5110(e)(1), these securities
will not be the subject of any hedging, short sale, derivative, put or call transaction that would result in the economic disposition
of the securities by any person for a period of 180 days immediately following the effective date of the registration statement of which
this prospectus forms a part, nor may they be sold, transferred, assigned, pledged or hypothecated for a period of 180 days immediately
following the effective date of the registration statement except to any underwriter and selected dealer participating in the offering
and their bona fide officers or partners. Pursuant to FINRA Rule 5110(g)(8), the Private Placement Warrants will not be exercisable or
convertible more than five years from the commencement of sales of the public offering. Such Private Placement Warrants grant to holders
demand and “piggy back” rights for periods of five and seven years, respectively, from the effective date of the registration
statement respect to the registration under the Securities Act of the Class A ordinary shares issuable upon exercise of the warrants,
pursuant to FINRA Rule 5110(g)(8).

 

Section 2. Representations and Warranties of
the Company. As a material inducement to the Purchaser to enter into this Agreement and purchase the Private Placement Warrants, the
Company hereby represents and warrants to the Purchaser (which representations and warranties shall survive the Closing Date) that:

 

(a) Organization and Corporate Power. The
Company is an exempted company duly incorporated, validly existing and in good standing under the laws of the Cayman Islands and is qualified
to do business in every jurisdiction in which the failure to so qualify would reasonably be expected to have a material adverse effect
on the financial condition, operating results or assets of the Company. The Company possesses all requisite corporate power and authority
necessary to carry out the transactions contemplated by this Agreement and the Warrant Agreement.

 

(b) Authorization; No Breach.

 

(i) The execution, delivery and performance
of this Agreement and the Private Placement Warrants have been duly authorized by the Company as of the Closing Date. This Agreement constitutes
the valid and binding obligation of the Company, enforceable in accordance with its terms. Upon issuance in accordance with, and payment
pursuant to, the terms of the Warrant Agreement and this Agreement, the Private Placement Warrants will constitute valid and binding obligations
of the Company, enforceable in accordance with their terms as of the Closing Date.

 

(ii) The execution and delivery by the
Company of this Agreement and the Private Placement Warrants, the issuance and sale of the Private Placement Warrants, the issuance of
the Ordinary Shares upon exercise of the Private Placement Warrants and the fulfillment, of and compliance with, the respective terms
hereof and thereof by the Company, do not and will not as of the Closing Date (A) conflict with or result in a breach of the terms, conditions
or provisions of, (B) constitute a default under, (C) result in the creation of any lien, security interest, charge or encumbrance upon
the Company’s share capital or assets under, (D) result in a violation of, or (E) require any authorization, consent, approval,
exemption or other action by or notice or declaration to, or filing with, any court or administrative or governmental body or agency pursuant
to, the amended and restated memorandum and articles of association of the Company (in effect on the date hereof or as may be amended
prior to completion of the contemplated Public Offering), or any material law, statute, rule or regulation to which the Company is subject,
or any agreement, order, judgment or decree to which the Company is subject, except for any filings required after the date hereof under
federal or state securities laws.

 

(c) Title to Securities. Upon issuance in
accordance with, and payment pursuant to, and registration in the register of members of the Company, the terms hereof and the Warrant
Agreement, the Ordinary Shares issuable upon exercise of the Private Placement Warrants will be duly and validly issued, fully paid and
non-assessable. Upon issuance in accordance with, and payment pursuant to, the terms hereof and the Warrant Agreement, the Purchaser will
have good title to the Private Placement Warrants and the Ordinary Shares issuable upon exercise of such Private Placement Warrants, free
and clear of all liens, claims and encumbrances of any kind, other than (i) transfer restrictions hereunder and under the other agreements
contemplated hereby, (ii) transfer restrictions under federal and state securities laws, and (iii) liens, claims or encumbrances imposed
due to the actions of the Purchaser.

 

    2

     

    

 

(d) Governmental Consents. No permit, consent,
approval or authorization of, or declaration to or filing with, any governmental authority is required in connection with the execution,
delivery and performance by the Company of this Agreement or the consummation by the Company of any other transactions contemplated hereby.

 

Section 3. Representations and Warranties of
the Purchaser. As a material inducement to the Company to enter into this Agreement and issue and sell the Private Placement Warrants
to the Purchaser, the Purchaser hereby represents and warrants to the Company (which representations and warranties shall survive the
Closing Date) that:

 

(a) Organization and Requisite Authority.
The Purchaser possesses all requisite power and authority necessary to carry out the transactions contemplated by this Agreement.

 

(b) Authorization; No Breach.

 

(i) This Agreement constitutes a valid
and binding obligation of the Purchaser, enforceable in accordance with its terms, subject to bankruptcy, insolvency, fraudulent conveyance,
reorganization, moratorium and other laws of general applicability relating to or affecting creditors’ rights and to general equitable
principles (whether considered in a proceeding in equity or law).

 

(ii) The execution and delivery by the
Purchaser of this Agreement and the fulfillment of and compliance with the terms hereof by the Purchaser does not and shall not as of
the Closing Date conflict with or result in a breach by the Purchaser of the terms, conditions or provisions of any agreement, instrument,
order, judgment or decree to which the Purchaser is subject.

 

(c) Investment Representations.

 

(i) The Purchaser is acquiring the Private
Placement Warrants and, upon exercise of the Private Placement Warrants, the Ordinary Shares issuable upon such exercise (collectively,
the “Securities”), for the Purchaser’s own account, for investment purposes only and not with a view towards,
or for resale in connection with, any public sale or distribution thereof.

 

(ii) The Purchaser is an “accredited
investor” as such term is defined in Rule 501(a)(3) of Regulation D under the Securities Act of 1933, as amended (the “Securities
Act”).

 

(iii) The Purchaser understands that
the Securities are being offered and will be sold to it in reliance on specific exemptions from the registration requirements of the United
States federal and state securities laws and that the Company is relying upon the truth and accuracy of, and the Purchaser’s compliance
with, the representations and warranties of the Purchaser set forth herein in order to determine the availability of such exemptions and
the eligibility of the Purchaser to acquire such Securities.

 

(iv) The Purchaser decided to enter
into this Agreement not as a result of any general solicitation or general advertising within the meaning of Rule 502(c) under the Securities
Act.

 

(v) The Purchaser has been furnished
with all materials relating to the business, finances and operations of the Company and materials relating to the offer and sale of the
Securities which have been requested by the Purchaser. The Purchaser has been afforded the opportunity to ask questions of the executive
officers and directors of the Company. The Purchaser understands that its investment in the Securities involves a high degree of risk
and it has sought such accounting, legal and tax advice as it has considered necessary to make an informed investment decision with respect
to the acquisition of the Securities.

 

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(vi) The Purchaser understands that
no United States federal or state agency or any other government or governmental agency has passed on or made any recommendation or endorsement
of the Securities or the fairness or suitability of the investment in the Securities by the Purchaser nor have such authorities passed
upon or endorsed the merits of the offering of the Securities.

 

(vii) The Purchaser understands that:
(a) the Securities have not been and are not being registered under the Securities Act or any state securities laws, and may not be offered
for sale, sold, assigned or transferred unless (1) in a registered transaction or (2) sold in reliance on an exemption therefrom;
and (b) except as specifically set forth in the Registration Rights Agreement, neither the Company nor any other person is under any obligation
to register the Securities under the Securities Act or any state securities laws or to comply with the terms and conditions of any exemption
thereunder. In this regard, the Purchaser understands that the Securities and Exchange Commission (the “SEC”) has taken
the position that promoters or affiliates of a blank check company and their transferees, both before and after a “business combination”,
are deemed to be “underwriters” under the Securities Act when reselling the securities of a blank check company. Based on
that position, Rule 144 adopted pursuant to the Securities Act would not be available for resale transactions of the Securities despite
technical compliance with the requirements of such Rule, and the Securities can be resold only through a registered offering or in reliance
upon another exemption from the registration requirements of the Securities Act.

 

(viii) The Purchaser has such knowledge
and experience in financial and business matters, knows of the high degree of risk associated with investments in the securities of companies
in the development stage such as the Company, is capable of evaluating the merits and risks of an investment in the Securities and is
able to bear the economic risk of an investment in the Securities in the amount contemplated hereunder for an indefinite period of time.
The Purchaser has adequate means of providing for its current financial needs and contingencies and will have no current or anticipated
future needs for liquidity which would be jeopardized by the investment in the Securities. The Purchaser can afford a complete loss of
its investments in the Securities.

  

Section 4. Conditions of the Purchaser’s
Obligations. The obligations of the Purchaser to purchase and pay for the Private Placement Warrants are subject to the fulfillment,
on or before the Closing Date, of each of the following conditions:

 

(a) Representations
and Warranties. The representations and warranties of the Company contained in ‎Section
2 shall be true and correct at and as of the Closing Date as though then made.

 

(b) Performance. The Company shall have
performed and complied with all agreements, obligations and conditions contained in this Agreement that are required to be performed or
complied with by it on or before the Closing Date.

 

(c) No Injunction. No litigation, statute,
rule, regulation, executive order, decree, ruling or injunction shall have been enacted, entered, promulgated or endorsed by or in any
court or governmental authority of competent jurisdiction or any self-regulatory organization having authority over the matters contemplated
hereby, which prohibits the consummation of any of the transactions contemplated by this Agreement or the Warrant Agreement.

 

(d) Warrant Agreement. The Company shall
have entered into a Warrant Agreement with a warrant agent on terms satisfactory to the Purchaser.

 

Section 5. Conditions of the Company’s
Obligations. The obligations of the Company to the Purchaser under this Agreement are subject to the fulfillment, on or before the
Closing Date, of each of the following conditions:

 

(a) Representations
and Warranties. The representations and warranties of the Purchaser contained in ‎Section
3 shall be true and correct at and as of the Closing Date as though then made.

 

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(b) Performance. The Purchaser shall have
performed and complied with all agreements, obligations and conditions contained in this Agreement that are required to be performed or
complied with by the Purchaser on or before the Closing Date.

 

(c) No Injunction. No litigation, statute,
rule, regulation, executive order, decree, ruling or injunction shall have been enacted, entered, promulgated or endorsed by or in any
court or governmental authority of competent jurisdiction or any self-regulatory organization having authority over the matters contemplated
hereby, which prohibits the consummation of any of the transactions contemplated by this Agreement or the Warrant Agreement.

 

(d) Warrant Agreement. The Company shall
have entered into a Warrant Agreement with a warrant agent on terms satisfactory to the Company.

 

Section 6. Termination. This Agreement may
be terminated at any time after July [31], 2022 upon the election by either the Company or the Purchaser upon written notice to the other
party if the closing of the Public Offering does not occur prior to such date.

  

Section 7. Survival of Representations and Warranties.
All of the representations and warranties contained herein shall survive the Closing Date.

 

Section 8. Definitions. Terms used but not
otherwise defined in this Agreement shall have the meaning assigned to such terms in the registration statement on Form S-1 the Company
has filed with the SEC, under the Securities Act.

 

Section 9. Miscellaneous.

 

(a) Successors and Assigns. Except as otherwise
expressly provided herein, all covenants and agreements contained in this Agreement by or on behalf of any of the parties hereto shall
bind and inure to the benefit of the respective successors of the parties hereto whether so expressed or not. Notwithstanding the foregoing
or anything to the contrary herein, the parties may not assign this Agreement, other than assignments by the Purchaser to affiliates thereof.

 

(b) Severability. Whenever possible, each
provision of this Agreement shall be interpreted in such manner as to be effective and valid under applicable law, but if any provision
of this Agreement is held to be prohibited by or invalid under applicable law, such provision shall be ineffective only to the extent
of such prohibition or invalidity, without invalidating the remainder of this Agreement.

 

(c) Counterparts. This Agreement may be
executed simultaneously in two or more counterparts, none of which need contain the signatures of more than one party, but all such counterparts
taken together shall constitute one and the same agreement.

 

(d) Descriptive Headings; Interpretation.
The descriptive headings of this Agreement are inserted for convenience only and do not constitute a substantive part of this Agreement.
The use of the word “including” in this Agreement shall be by way of example rather than by limitation.

 

(e) Governing Law. This Agreement shall
be deemed to be a contract made under the laws of the State of New York and for all purposes shall be construed in accordance with the
internal laws of the State of New York.

 

(f) Amendments. This Agreement may not be
amended, modified or waived as to any particular provision, except by a written instrument executed by all parties hereto.

 

[Signature Page Follows] 

 

    5

     

    

 

IN WITNESS WHEREOF, the parties hereto have
executed this Agreement to be effective as of the date first set forth above.

 

	 	COMPANY:
	 	 
	 	LIV CAPITAL ACQUISITION CORP. II
	 	 
	 	By:	       
	 	 	Name: 
	 	 	Title:

 

	 	PURCHASER:
	 	 
	 	EARLYBIRDCAPITAL, INC.
	 	 
	 	By:	                            
	 	 	Name: 
	 	 	Title:

 

[Signature Page - Private Placement Warrants
Purchase Agreement]

 

 

6Exhibit 10.39

 

JOINT DEVELOPMENT, LICENSING
AND DISTRIBUTION AGREEMENT

 

This JOINT
DEVELOPMENT, LICENSING AND DISTRIBUTION AGREEMENT (this “Agreement”) is entered into as of this 30 day of November 2021
(the “Effective Date”), by and between HEARTBUDS AK, LLC, an Alaska limited liability company, with an address of
813 D Street, Suite 200, Anchorage, Alaska 99501 (“HB LLC”) and G MEDICAL INNOVATIONS LTD., NO. 51-5169696 an
Israeli corporation, with an address of 5 Oppenheimer St. Rehovot, 7670105, ISRAEL (“GMED”).

 

RECITALS

 

A. HB
LLC has developed a medical device used with a smart phone to enable doctors and others to listen to and record a patient’s heart
and lungs (the “HB1”).

 

B. The
HB1 is pending approval by the United States Food and Drug Administration (“FDA”) for use as a medical device in the United
States.

 

C. GMED
has developed a medical device, known as the Prisma unit (the “Prisma”), which is used in telemedicine and remote patient
monitoring, and GMED has obtained regulatory approval for the sale and distribution of the Prisma in the United States.

 

D. The
parties jointly recognize that inclusion of a new, enhanced model or generation of the HB1 with the Prisma will enhance the capabilities
of the Prisma, thus improving patient care and facilitating the broader sale and distribution of the Prisma and HB LLC products.

 

E. GMED
has extensive experience in the design, production, and approval of medical devices through the FDA.

 

F. The
parties desire to jointly develop a newer, enhanced model or generation of the HB1 to be included with the sale and distribution of the
Prisma, which shall hereinafter be referred to as the “HB2”, in accordance with the terms and conditions of this Agreement.

 

G. The
parties recognize that there are some market opportunities and uses of the HB 1 and any newer, enhanced models and generations, including
the HB2, separate and independent of the use with the Prisma, and HB LLC will continue to have the right to develop, promote, market,
license, sell Prand distribute the HB1, the HB2 and any other newer models and generations thereafter (collectively, with the HB1 and
the HB 2, “HB Devices”) independent of the Prisma.

 

NOW, THEREFORE, in consideration of the
covenants and conditions set forth below, the parties hereby agree as follows:

 

 1. Recitals. The recitals are incorporated herein by reference.

 

2. Joint
Development of the HB2. GMED will lead and coordinate efforts to design, develop, obtain and maintain FDA and any other United States’
regulatory approvals for the use and sale of the HB2. GMED will consult with HB LLC and take into account HB LLC’s input in connection
with the design and development of the HB2. HB LLC agrees to cooperate with GMED and promptly respond to any requests for information
related to the HB1 and the HB2 in connection with the foregoing. Each party agrees to contribute One Hundred Thousand Dollars ($100,000)
toward the costs and expenses of designing, developing and obtaining requisite approvals for the HB2

 

Joint Development, Licensing and Distribution Agreement

 

    1

     

    

 

 3. License; Distribution and Manufacturing.

 

3.1 Subject
to receipt of the requisite FDA approvals, HB LLC hereby grants a non- exclusive license to GMED to use the HB1 and the HB2 and to sell
the HB1 or the HB2 together with the Prisma. HB LLC shall otherwise own and retain all intellectual property rights associated with all
HB Devices. If additional intellectual property rights are reasonably necessary in order to more efficiently or effectively sell or license
the HB2, then HB LLC will provide the same to GMED upon reasonable request from GMED.

 

3.2 Upon
approval by the FDA, GMED may, but shall have no obligation to, include the HB1 with the Prisma sold or otherwise distributed by GMED
within the United States. Upon approval by the FDA of the HB2, GMED must include the HB2 within the Prisma sold or otherwise distributed
by GMED within the United States. GMED may, at its discretion and cost, include the HB 1 or the HB2 within the Prisma sold or distributed
outside of the United States, so long as GMED obtains the requisite governmental approvals in such jurisdictions.

 

3.3 HB
LLC agrees to use its reasonable efforts to assist in the sale and distribution of the Prisma. At all times during the term of this Agreement
or thereafter, HB LLC shall have the right to promote, market, sell, offer for lease or subscription and otherwise distribute all HB Devices
independent of GMED or the Prisma, including under HB LLC trademarks or other branding of HB LLC’s choice.

 

3.4 The
parties shall coordinate and cooperate with each other to identify and contract with appropriate manufacturers for the HB2 and the Prisma
sold with the HB2, with efforts being made to manufacture sufficient numbers of the HB2 to be used and sold with the Prisma and to be
used and sold separately from the Prisma.

 

 4. Royalties. Subject to the terms of Section 6 and Section 7 below:

 

4.1 GMED will pay,
and HB LLC will be entitled to, the following royalties with respect to each subscription, lease, sale or other similar transaction
involving the Prisma that includes any HB Device: (i) a recurring $0.25 per month royalty for each lease or subscription; and (ii) a
one-time royalty of $2.50 for each sale.

 

4.2 In
return, HB LLC will pay, and GMED will be entitled to, the following royalties with respect to each subscription, lease, sale or other
similar transaction of an HB Device that does not include a Prisma unit and is with a party that is unaffiliated with GMED marketing or
sales: (i) a recuring monthly royalty of 5% [FIVE PERCENT] of lease or subscription fees for each lease or subscription and (ii) a one-time
royalty of 5% of the sales price for each sale.

 

4.3 If
any royalty is paid by either party in connection with any product that is returned by a customer resulting in a refund to such customer,
then the party may offset the paid royalty against future royalties due hereunder.

 

Joint Development, Licensing and Distribution Agreement

 

    2

     

    

 

4.4 The parties shall pay each other
their respective royalties on a quarterly basis, and shall include reasonable supporting information regarding the calculation of
the royalty payment along with such payment. In addition, each party agrees to provide reports and information reasonably requested
by the other party related subscriptions, leases, sales and other transactions. In connection therewith, each party shall make the
portion of their records necessary to confirm the calculation of royalties reasonably available for inspection and copy by the other
party.

 

4.5 The
parties shall use good faith efforts to resolve any disputes or disagreements related to the calculation and payment of royalties prior
to taking any formal action with respect to the dispute or disagreement.

 

5. Additional
Consideration. On the Effective Date, GMED shall provide HB LLC with the following additional consideration:

 

 (i) 114,286 of shares in GMED.

 

(ii) $1,000,000
in options to acquire GMED stock, to be priced as of the Effective Date. From the date that the HB2 is approved by the FDA until the last
day of the 18-calendar month thereafter (the “Vesting Deadline”) the options shall vest on a pro rata basis based on the actual
number of devices (Prizma) that HB LLC will sell to be calculated relative to the agreed target of 20,000 devices (Prizma).

 

(iii) For
illustrative purposes only, if HB LLC obtains 10,000 devices (Prizma) in a timely manner, then 50% of the options shall vest in HB LLC.

 

(iv) The pro rata
shares of options that vest shall be calculated on a quarterly basis, and the parties shall cooperate and coordinate with respect to
providing information regarding the vesting of the options so that each party has certainty regarding the number of vested options.
The options shall be exercisable over a 5-year term, commencing on the grant date.

 

(v) All options vest
or the Vesting Deadline, at an exercise price equal to a 50% premium to the price of GMED stock on the Effective Date.

 

(vi) Options that do
not vest shall be redeemed or extinguished. The options shall also be subject to the terms of Section 6 and Section 7 below.

 

 6. Additional Termination Terms.

 

6.1 If
the FDA has not approved the HB2 on or before the 3rd anniversary date of the Effective Date, then either party may terminate
this Agreement by delivering written notice to the other party, and neither party shall have any further rights or obligations of any
kind.

 

Joint Development, Licensing and Distribution Agreement

 

    3

     

    

 

6.2 Either party may terminate this
Agreement (i) if the other party breaches any material term or condition of this Agreement and fails to cure the same within 30 days
written notice; (ii) on 90 days advanced written notice to the other party if such party reasonably concludes that the
parties’ arrangements will not or are not proceeding in a manner that is likely to lead to the parties’ goals and
milestones hereunder being achieved; (iii) a receiver is appointed for the other party or its property; (iv) the other party makes
an assignment for the benefit of its creditors; or (v) any proceedings are commenced by, for, or against the other party under any
bankruptcy, insolvency or debtor’s relief law for the purpose of seeking a reorganization of such party’s debts, and
such proceeding is not dismissed within ninety (90) calendar days of its commencement. In any such case, neither party shall have
any further rights or obligations of any kind.

 

 7. Additional Terms.

 

7.1 Each
party agrees to notify and share with the other party any correspondence or documentation received from any governmental regulatory agency
regarding the HB2 and any newer, enhance model regarding the approval of the same or any other material matter.

 

7.2 Unless
otherwise agreed to by the parties, any consulting services provided by one party to the other during the term shall be conducted and
provided at no additional cost other than pre-approved out-of-pocket and travel expenses.

 

7.3 Each
party shall be responsible for all local income taxes, social security, unemployment compensation, workers compensation and insurance
coverage and all expenses incurred by such party in the performance of this Agreement.

 

7.4 Any
amount that is overdue by one party to the other shall bear interest at the annual rate of 7% until paid.

 

8. Further
Assurances and Additional Documentation. From and after the Effective Date, the parties shall from time to time, at the request
of any party hereto, at the expense of the requesting party, execute and deliver such other agreements, instruments, certificates
and documents and take such other actions as may be reasonably requested to effectuate or better evidence the transactions and
arrangements contemplated herein.

 

9. Independent
Contractors. The parties are independent contractors and nothing in this Agreement shall be construed to establish any relationship
of partnership, joint venture, employment, franchise or agency between the parties. Neither party shall have the power or authority as
agent, employee or in any other capacity to represent, act for, bind, or otherwise create or assume any obligation on behalf of the other
party for any purpose whatsoever.

 

10. Confidentiality.
Each party acknowledges that it will have access to certain information of the other party concerning the other party’s business,
plans, customers, technology, products, and other information held in confidence by the other party ("Confidential Information").
Confidential Information will include all information in tangible or intangible form that is marked or designated as confidential or
that, under the circumstances of its disclosure, reasonably should be considered confidential. Confidential Information will also include,
but not be limited to the terms and conditions of this Agreement. For purposes of clarification, customer lists and other information
regarding customers shall be considered Confidential Information of the applicable party. Each party agrees that it will not use in any
way, for its own account or the account of any third party, except as expressly permitted by, or required to achieve the purposes of
this Agreement, nor disclose to any third party, except employees or professional advisors of such party on a need-to-know basis,
provided such employees or professional advisors are legally bound to confidentiality provisions at least as restrictive as those set
forth herein, any of the other party's Confidential Information, and will take precautions to protect the confidentiality of such information
at least as stringent as those it takes to protect its own Confidential Information, and in any event no less than reasonable care. Information
will not be deemed Confidential Information to the extent such information (1) is in the possession of the receiving party prior to receipt
from the disclosing party; (2) is disclosed (independently of disclosure by the disclosing party) to the receiving party directly or indirectly
by a source other than one having an obligation of confidentiality to the disclosing party; (3) becomes publicly known or otherwise ceases
to be confidential, except through a breach of this Agreement by the receiving party; (4) is independently developed by the receiving
party without use of or reference to the Confidential Information, or (5) is disclosed pursuant to the order or requirement of a court,
administrative agency, or other governmental body; provided, however, that the receiving party shall make best effort to provide prompt
notice of such court order or requirement to the disclosing party to enable the disclosing party to seek a protective order or otherwise
prevent or restrict such disclosure. 

 

Joint Development, Licensing and Distribution Agreement

 

    4

     

    

 

 11. Miscellaneous.

 

11.1 This
Agreement shall be governed by the laws of the State of ISAREL, excluding the Convention on Contracts for the International Sale of Goods
and that body of law known as conflicts of laws. The courts of competent jurisdiction in Tel Aviv Jafa of the State of ISRAEL shall have
the exclusive jurisdiction with respect to any dispute arising under or in connection with this Agreement.

 

11.2 In
the event that any of the provisions of this Agreement shall be determined by a competent court to be invalid or unenforceable, the remaining
portions hereof shall remain in full force and effect and such provision shall be enforced to the maximum extent possible so as to effect
the intent of the parties and shall be reformed to extent necessary to make such provision valid and enforceable. The waiver of any breach
or default of this Agreement will not constitute a waiver of any subsequent breach or default and will not act to amend or negate the
rights of the waiving party.

 

11.3 Any
notice or communication required to be given hereunder may be delivered by hand, deposited with an overnight courier, sent by email, or
mailed by registered or certified mail, return receipt requested, postage prepaid, in each case to the address of the receiving party
as listed on the first page of this Agreement or at such other address as may hereafter be furnished in writing by either party to the
other party. Such notice will be deemed to have been given as of the date it is delivered.

 

11.4 Neither
party may assign its rights or delegate its duties under this Agreement either in whole or in part, except in the event of reorganization,
to an affiliate or to a third party as part of a merger or acquisition of all or substantially all of the party’s shares or voting
rights, whether voluntarily or by operation of law, without the prior written consent of the other party. Subject to the foregoing, this
Agreement shall bind and inure to the benefit of the respective parties hereto and their heirs, personal representatives, successors,
and assigns.

 

11.5 Nothing
contained in this Agreement, express or implied, is intended to confer upon any person, other than the parties hereto and their respective,
permitted successors and assigns, any rights, or remedies under or by reason of this Agreement.

 

11.6 This
Agreement constitutes the complete and exclusive agreement between the parties with respect to the subject matter hereof, and
supersedes and replaces any and all prior or contemporaneous discussions, negotiations, understandings and agreements, written and
oral, regarding such subject matter. This Agreement may be executed in two or more counterparts, each of which will be deemed an
original, but all of which together shall constitute one and the same instrument. Once signed, any reproduction of this Agreement
made by reliable means (e.g., photocopy, facsimile) shall be considered an original. This Agreement may be amended or modified only
by a written document signed by authorized representatives of the parties.

 

[SIGNATURE PAGES TO FOLLOW]

 

Joint Development, Licensing and Distribution Agreement

 

    5

     

    

 

	HB LLC:	HEARTBUDS AK, LLC, an Alaska limited liability company
	 	 
	 	By: HB AK Investor, LLC, its Managing Member 
	 	 
	 	 	By:	/s/ Jonathan B. Rubini
	 	 	 	Jonathan B. Rubini
	 	 	Its:	Managing Member
	 	 
	GMED:	G MEDICAL INNOVATIONS LTD., An Israeli corporation
	 	 
	 	By:	 
	 	 	Dr. YACOV GEVA
	 	Its:	CEO

 

Joint Development, Licensing and Distribution Agreement

 

6

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