Document:

Translation of Letter of Approval

 Exhibit 10.33 

Translation of G-Sense Letter of Approval 

State of Israel 

Ministry of Trade and Industry 

Industrial Research and Development Administration 

Office of Chief Scientist 

Jerusalem, 01-04-2009 

Letter of Approval Number: 40958 

(Fiscal regulation: 38020101) 

Group: 13 
 To 

G-Sense Ltd. 
 P.O. 15020 

Haifa 31905 
 Letter of
Approval 
  

	 	1.	We hereby inform you that the research committee, by virtue of its authority according to Article 17 of the Law for the Encouragement of Research and Development in the
Industry, 1984 (hereinafter: the “R&D Law”), has resolved in its meeting on 18/02/2009 to approve the program as submitted by you on 13/12/2008, which subject matter is: 

 

	 	a.	Subject of approved program: Development of a Minimally Invasive System for Continuous Monitoring of Glucose Level and Trend 

 

	 	b.	Performing the approved program: G-Sense Ltd.  

  

	 	  	Registration Number: 513593368 

(hereinafter – the “Approved Program”) 
  

	 	2.	a. The research and development expenses approved for the performance of the approved program will be in an amount of up to: NIS 5,489,542.

 In words: Five Million Four Hundred Eighty Nine Thousand Five Hundred and Forty Two NIS. 

b. The rate of grant approved is 50% of the development expenses (addition with respect to a national priority zone A/ line of
confrontation), which is up to an amount of NIS 2,744,771. 
 In words: Two Million Seven Hundred and Forty Four Thousand
Seven Hundred and Seventy One NIS. 
  

	 	3.	The approval is conditioned upon fulfillment of the provisions of the law, regulations, rules and procedures promulgated thereunder and subject to the following terms:

  

	 	a.	The approved program will be performed as detailed in your request within a period of 12 months – from 01/12/2008 and until 30/11/2009 (hereinafter: the
“Performance Period”). 

 Translation of G-Sense Letter of Approval 

 

	 	b.	(1) You must inform the Office of the Chief Scientist about every change in the control of the recipient of the grant in the company’s shares and/or in one of the
following controlling means: (a) the right to vote in the company’s general meetings; (b) the right to appoint directors in the company; (c) the right to participate in the company’s profits. 

(2) Transferring any percentage of the controlling means stated in subsection (1) to a non-Israeli resident or to a foreign company,
which make the non-Israeli resident or foreign company an interested party as defined in the Securities Law, 1968, requires notification to Office of the Chief Scientist and a written undertaking of the non-Israeli resident or the foreign company to
the R&D Law. 
 The letter of approval shall be signed in the form existing in the office of the Chief Scientist and in the
website of the Ministry of Industry, Trade and Employment. 
  

	 	c.	Additional terms: 

 Royalties
shall be paid on income from all devices and consumables for measuring glucose level. 
  

	 	d.	See the appendix in the matter of intellectual property. 

  

	 	e.	In the event of pledging the company’s assets to an Israeli bank against credit, the company must ensure that the pledge shall be subject to the R&D Law.

  

	 	f.	If the plan is connected to an agreement with an academic institution or an academic implementation company, the company must ensure that the agreement is subject to
the provisions of the R&D Law. 

  

	
	Sincerely,
	
	 /s/ Eli Ofer

	Dr. Eli Ofer
	The Chief Scientist

 Attached: 

 

	 	1.	Budget breakdown appended to the letter of approval. 

  

	 	2.	Letter of commitment. 

 Translation of G-Sense Letter of Approval 

 

	 	3.	Rules determined by the research committee for the performance of the provisions of the Law. 

 

	 	4.	Letter of approval intellectual property appendix. 

 Translation of G-Sense Letter of Approval 

 

 [SUMMARY TRANSLATION] 

State of Israel 

Ministry of Trade and Industry 

Industrial Research and Development Administration 

Office of Chief Scientist/Office Controller 

01-04-2009 
 To: 

G-Sense Ltd. 
 P.O. 15020 

Haifa 31905 
 Budget Appendix
with respect to Research and Development File Number 40958 
 Appendix to Letter of Approval 

Subject to the letter of approval signed by the Chief Scientist from 01/04/2009 and following the decision of the research committee pursuant to Article
17(c) from 18/02/2009 with respect to research and development file which number is 40958 
 Subject of approved program: Development
of a Minimally Invasive System for Continuous Monitoring of Glucose Level and Trend 
 and performed by G-Sense Ltd.  

Period of research: from 1/12/2008 until 30/11/2009 

The office’s budget commitment in an amount of up to NIS 2,744,771 is hereby approved for the performance of research and development
expenses for the approved program. 
  

					
	 /s/
	 		 	 /s/

	Vice Chief Scientist	 		 	 Office controller, the Ministry of

Industry, Trade and Employment

 Translation of G-Sense Letter of Approval 

 

 This page forms a part of the letter of approval 

Details of the budget for research and development in the matter of: Development of a Minimally Invasive System for Continuous Monitoring of Glucose
Level and Trend 
 Performance period from 1/12/2008 until 30/11/2009 

Budget page version 1.1 
 Request date

 Date of latest update 10/03/2008 
  

					
		 	File number:	  	40958
		 	Preparation Date:	  	10.03.2008
		 	Company	  	G-Sense
		 	Company Number	  	5334

  

			
	A. Human Resources	  	
	Total amount human resources	  	2,749,200
		
	B. Materials and consumable tools	  	
	Total Materials	  	89,300
		
	C. Subcontractors	  	
	Total amount subcontractors in Israel	  	2,508,200
	Total amount subcontractors abroad	  	0
	Total amount subcontractors	  	2,508,200
		
	D. Approved Equipment	  	
	Amount	  	52,840
		
	E. Miscellaneous	  	
	Amount	  	90,000
		
	Total in NIS	  	5,489,542
	Grant 50%	  	2,744,771

 Notes: 

A. The person performing the research shall be entitled to payments only with respect to expenses made and registered in a special account (including
registration of work hours of the researchers working in this research), and in accordance with the budget instructions of the Office of the Chief Scientist at the Ministry of Trade and Employment. 

B. This budget page is in effect only after signing the letter of approval 

 Translation of G-Sense Letter of Approval 

 

 Signature: 
  

													
		 	 /s/ David Lavi
	 		 	 /s/ G-Sense Ltd.
	 		 	 22.3.09
	 	
		 	Office	 		 	Company	 		 	Date	 	

 Translation of G-Sense Letter of Approval 

 

 G-Sense Ltd. 

number at the registrar of companies: 513593368 
  

			
	To	  	
	Industrial Research and Development Administration,	  	Date: 22.3.09
	The Office of Chief Scientist	  	Company 5334
	Ministry of Industry, Trade and Employment	  	
	5 Bank Israel, PO Box 3166	  	
	Jerusalem	  	

 Dear Sir, 

Re: Undertaking Letter and Notice about the Commencement of Performance of Approved R&D Plan 

Subject: Development of a Minimally Invasive System for Continuous Monitoring of Glucose Level and Trend 

File Number: 40958 
 We hereby inform
you that we commenced performing the approved plan, according to the referenced approval letter on 1.12.08. 
  

	 	1.	We declare and undertake to comply with all the provisions of the Law for the Encouragement of Research and Development in Industry 5744-1984 (hereinafter the
“Law”), and including: 

  

	 	a.	the obligation not to transfer to another the knowledge, the rights on the knowledge and the manufacturing rights deriving from the research and development without the
approval of the research committee. 

  

	 	b.	to pay royalties and file all reports according to the Law and the Regulations for the Encouragement of Research and Development in Industry (Rate of Royalties and
Rules for their Application), 5756-1996 (hereinafter the “Royalties Regulations”) and the procedures of the Industrial Research and Development Administration (hereinafter the “Administration”). 

 

	 	2.	We declare that we have read all instructions and procedures for financial reporting for R&D purposes and we will comply with them, including in connection with the
computerized system for the reporting on hours in assignment to tasks. 

 Translation of G-Sense Letter of Approval 

 

	 	3.	We consent to the attribution of this file numbered 40958 to plan 40958, subject development of a minimally invasive system for continuous monitoring of glucose level
and trend. 

  

	 	4.	Additional undertakings: 

  

	 	a.	We were notified about the royalties amendment which was published in “regulations file HATASHNAT” from 3.12.1998 page 110 (file 5939).

 According to the said amendment, the research grants shall be linked to the dollar, bearing annual interest at
the rate of the LIBOR. 
  

	 	b.	Additional Undertakings: 

Royalties shall be paid on income from all devices and consumables for measuring glucose level. 

 

	 	5.	We hereby declare that we have separated and distinguished account/s in the framework of our financial bookkeeping for the purpose of performing this plan. The
recordings made in the account/s are direct, chronological, primary, systematic and only according to documentation. 

  

	 	6.	We hereby declare that we are aware that the referenced grant shall be paid subject to the terms of the approval and according to the Administration’s procedures.

  

	 	7.	The attached budget, including its details, terms and appendices constitutes a binding framework. Expenses deviating from this detailed framework will not be
recognized, unless under the approval of the Administration. 

  

	 	8.	Procedures: 

  

	 	a.	The company shall be entitled to advancement according to the procedures, provided that it has actually commenced performance of the plan. The advancement shall be
off-set from payments due according to the financial reports, excluding current advancement. 

  

	 	b.	Any additional payment shall be executed according to a detailed financial report which corresponds to the Administration’s procedures. Payment shall be made after
review of the aforesaid report. The grant’s recipient is obliged to file a financial report once every three months and a technical report at least once every half a year, and this on the Administration’s forms or in the same format.

  

	 	c.	The truthfulness of the financial report shall be confirmed by an authorized representative of the company, and documents witnessing actual payments to subcontractors
shall be attached, if such expense is reported. 

 Translation of G-Sense Letter of Approval 

 

	 	d.	Any payment with respect to the approved grant shall be considered as advanced payment only until the approval of the final report. Until the final report, no more than
90% (including current advancement) shall be paid from the lower of the budgeted grant or the expense in the financial report. The remaining balance shall be paid only following receipt of a final financial report and a final technical report
together with confirmation from an accountant on behalf of the company. The payment shall be made following examination of the reports by representatives of the Administration. 

 

	 	e.	The company’s books of accounts, including the company’s balance sheets, shall be open for review of the Administration during a period of 7 years from the
commencement of performance of the approved plan, or 6 years from filing the final financial report, the later of the two. 

  

	 	f.	The Administration will have the right to setoff any sum due from the recipient of the support out of grant approved hereby. 

 

	 	g.	The grant’s recipient is not entitled to stop performing the plan without the prior written approval from the head of the Administration. If the plan is ceased
without such approval, the Administration may and shall be entitled to demand the return of the grant plus interest and linkage differentials in accordance with the law. 

 

	 	h.	The grant’s recipient is obligated to file a final financial report approved by an accountant on its behalf in a format acceptable to the Office of the Chief
Scientist and a final technical report to the approved plan, no later than 3 months from the date of completion of the approved plan. 

  

	 	i.	The Administration is entitled to demand additional technical reports at any time. 

 

	 	j.	An expense shall not be recognized unless the consideration therefor is paid, except overhead in salaries item. 

 

	 	k.	In the final financial report only expenses accumulated during the approved research period and paid no later than 60 days from its termination shall be recognized.

  

	 	l.	The Administration may demand interest and linkage differentials as provided by law on any sum due to it from the recipient of the grant. 

 

	 	9.	The abovementioned terms do not derogate from any statute and law applicable to the grant for this file. 

 

	 	10.	 We hereby undertake to comply with intellectual property laws as shall be practiced in Israel from time to time, and we consent that if we are
convicted 

 Translation of G-Sense Letter of Approval 

 

	 	 
for violation of any of the intellectual property laws the Administration shall be entitled to retrospectively terminate any benefit granted by you, including grant, loan, benefit or any other
financial advantage, or any part of such benefit, and demand their repayment including interest and linkage differentials, according to the law. 

  

 
 Signature confirmation for
the company 
 The undersigned attorney Yaron Keizer hereby confirms that G-Sense Ltd. is lawfully registered in Israel; that Avraham
Shkalim and Eli Arad have signed this agreement on its behalf, have signed it before me and are authorized to do so on its behalf; that their signature on this agreement binds the company. 

 

			
	 Date: 22.03.09
	 	Signature and stamp: /s/ Yaron Keizer

  

 
  

													
	/s/	 	 	 	Avraham Shkalim	 	 	 	CEO	 	 	 	G-Sense Ltd.
							
	 /s/
	 		 	 Eli Arad
	 		 	 CFO D. Medical
	 		 	  

	Signature	 		 	Name	 		 	Position	 		 	Company’s stamp

 Translation of G-Sense Letter of Approval 

 

 State of Israel 

Ministry of Trade and Industry 

Industrial Research and Development Administration 

Office of Chief Scientist 

Jerusalem, 01-04-2009 

Letter of Approval Number: 40958 

(Fiscal regulation: 38020101) 

Group: 13 
 To: 

G-Sense Ltd. 
 P.O. 15020 

Haifa 31905 
 Appendix to
Letter of Approval 
 Compliance with Intellectual Property Laws 

We have acknowledged your undertaking from 22.3.09 to comply with intellectual property laws as shall be practiced in Israel from time to time, that if
you are convicted for violation of the intellectual property laws of Israel, by a final and un-appealable judgment in an Israeli court, we shall be entitled to terminate any benefit granted to you by the Industrial Research and Development
Administration, including grant, loan, tax benefit or any other financial advantage, or any part of such benefit, and demand their return including interest and linkage differentials according to the law. 

 

	
	Sincerely,
	
	/s/
	Dr. Eli Ofer
	The Chief Scientist

 Translation of G-Sense Letter of Approval 

 

 State of Israel 

Ministry of Trade and Industry 

Industrial Research and Development Administration 

Office of Chief Scientist 

Jerusalem, 3-11-2009 
 To:

 Company CEO 
 G-Sense Ltd.

 3 Ha’Sadna St., Industry Area Second Floor 

Tirat Ha’Carmel 39032 
 Facsimile Number
04-8500297 
 Dear Sir/Madam, 
  

	Re:	Development of a Minimally Invasive System for Continuous Monitoring of Glucose Level and Trend 

	    	Meeting Number 2009/25 (M) from 26/10/2009 (File 40958) 

According to Article 17(d) and Article 50 of the Law for the Encouragement of Research and Development in Industry, 1984, I hereby inform you of the
decision of the research committee: 
 To approve the company’s request to extend the period until 04/10 and to set the budget at NIS
5,267,560 (i.e. decreasing the budget by NIS 221,982). 
 There may be downward changes in the upper limit of the above budget as a result of
adjusting the amount to budgeting procedures. 
 For your information, the approval for the program is limited to the budget approved in the
referenced file and for this R&D period only. An additional approval for this or another plan, for the coming years, will be examined in comparison to research programs brought before the committee during the same year. 

After proving you compliance with the terms of the committee and/or requirements stemming from the results of the financial examination, if any, you will
be invited to sign a budget page and a letter of commitment. 
 The procedure must be completed within two months from the date of the
committee’s approval, or the approval will expire and we will be free to use the budget for other purposes. 

 Translation of G-Sense Letter of Approval 

 

	
	Sincerely,
	
	/s/
	Amos Efrati
	Vice Scientist and Funds ManagerTranslation of Letter of Approval

 Translation of 2010 Letter of Approval 

 
 Exhibit 10.34 

State of Israel 

Ministry of Trade and Industry 

Industrial Research and Development Administration 

Office of Chief Scientist 

Jerusalem                     

 Letter of Approval Number: 42678 

(Fiscal regulation: 38020101) 

Group: 13 
 To 

Nilimedix Ltd. 
 3 Ha’sadna 

Tirat Ha’Carmel 39032 

Letter of Approval 
  

	 	1.	We hereby inform you that the research committee, by virtue of its authority according to Article 17 of the Law for the Encouragement of Research and Development in the
Industry, 1984 (hereinafter: the “R&D Law”), has resolved in its meeting on 17/02/2010 to approve the program as submitted by you on 31/10/2009, which subject matter is: 

 

	 	a.	Subject of approved program: Advanced Passive Insulin Pump 

  

	 	b.	Performing the approved program: Nilimedix Ltd.  

Registration Number: 513229708 

(hereinafter – the “Approved Program”) 
  

	 	2.	a. The research and development expenses approved for the performance of the approved program will be in an amount of up to: NIS 5,980,378.

 In words: Five Million Nine Hundred Eighty Thousand Three Hundred and Seventy Eight NIS. 

 

	 	 	b. The rate of grant approved is 40% of the development expenses (addition with respect to a national priority zone A/ line of confrontation), which is up to an
amount of NIS 2,392,151. 

 In words: Two Million Three Hundred Ninety Two Thousand One Hundred and Fifty
One NIS. 
  

	 	3.	The approval is conditioned upon fulfillment of the provisions of the law, regulations, rules and procedures promulgated thereunder and subject to the following terms:

  

	 	a.	The approved program will be performed as detailed in your request within a period of 12 months – from 01/12/2009 and until 30/11/2010 (hereinafter: the
“Performance Period”). 

 Translation of 2010 Letter of Approval 

 

	 	b.	(1) You must inform the Office of the Chief Scientist about every change in the control of the recipient of the grant in the company’s shares and/or in one of the
following controlling means: (a) the right to vote in the company’s general meetings; (b) the right to appoint directors in the company; (c) the right to participate in the company’s profits. 

 

	 	 	(2) Transferring any percentage of the controlling means stated in subsection (1) to a non-Israeli resident or to a foreign company, which make the non-Israeli
resident or foreign company an interested party as defined in the Securities Law, 1968, requires notification to Office of the Chief Scientist and a written undertaking of the non-Israeli resident or the foreign company to the R&D Law.

  

	 	 	The letter of approval shall be signed in the form existing in the office of the Chief Scientist and in the website of the Ministry of Industry, Trade and Employment.

  

	 	c.	Additional terms: 

  

	 	 	Royalties shall be paid on income from all insulin pumps and accessories, spare parts, consumables, software, service. 

 

	 	d.	See the appendix in the matter of intellectual property. 

  

	 	e.	In the event of pledging the company’s assets to an Israeli bank against credit, the company must ensure that the pledge shall be subject to the R&D Law.

  

	 	f.	If the plan is connected to an agreement with an academic institution or an academic implementation company, the company must ensure that the agreement is subject to
the provisions of the R&D Law. 

  

			
	Sincerely,	 	
		
	 /s/ Eli Ofer
	 	
	Dr. Eli Ofer	 	
	The Chief Scientist	 	

 Attached: 
  

	 	1.	Budget breakdown appended to the letter of approval. 

  

	 	2.	Letter of commitment. 

  

	 	3.	Rules determined by the research committee for the performance of the provisions of the Law. 

 

	 	4.	Letter of approval intellectual property appendix. 

 Translation of 2010 Letter of Approval 

 
 [SUMMARY TRANSLATION] 

State of Israel 

Ministry of Trade and Industry 

Industrial Research and Development Administration 

Office of Chief Scientist/Office Controller 

28-4-2010 
 To: 

Nilimedix Ltd. 
 3 Ha’sadna 

Tirat Ha’Carmel 39032 

Budget Appendix with respect to Research and Development File Number 42678 

Appendix to Letter of Approval 

Subject to the letter of approval signed by the Chief Scientist from 28/04/2010 and following the decision of the research committee pursuant to Article
17(c) from 17/02/2010 with respect to research and development file which number is 42678 
 Subject of approved program: Advanced
Passive Insulin Pump 
 and performed by Nilimedix Ltd.  

Period of research: from 1/12/2009 until 30/11/2010 

The office’s budget commitment in an amount of up to NIS 2,392,151 is hereby approved for the performance of research and development
expenses for the approved program. 
  

			
	/s/	  	/s/
	  
	  	  

		
	Vice Chief Scientist	  	 Office controller, the Ministry of Industry,

Trade and Employment

 Translation of 2010 Letter of Approval 

 

 This page forms a part of the letter of approval 

Details of the budget for research and development in the matter of: advanced passive insulin pump 

Performance period from 1/12/2009 until 30/11/2010 

Budget page version 1.1 
 Request date

 Date of latest update 10/03/2010 
  

			
	File number:	 	 42678

	Preparation Date:	 	 10.03.2010

	Company	 	 Nilimedix

	Company Number	 	 5055

  

					
	 A. Human Resources
	  		  	
			
	Total amount human resources	  	 3,761,874
	  	
			
	B. Materials and consumable tools	  		  	
			
	Total Materials	  	 157,600
	  	
			
	C. Subcontractors	  		  	
			
	Total amount subcontractors in Israel	  	 1,530,000
	  	
			
	Total amount subcontractors abroad	  	 300,000
	  	
			
	Total amount subcontractors	  	 1,830,000
	  	
			
	D. Approved Equipment	  		  	
			
	Amount	  	 126,149
	  	
			
	E. Miscellaneous	  		  	
			
	Amount	  	 104,754
	  	
			
	Total in NIS	  	 5,980,378
	  	
			
	Grant 40%	  	 2,392,151
	  	

 Notes: 

A. The person performing the research shall be entitled to payments only with respect to expenses made and registered in a special account (including
registration of work hours of the researchers working in this research), and in accordance with the budget instructions of the Office of the Chief Scientist at the Ministry of Trade and Employment. 

B. This budget page is in effect only after signing the letter of approval 

 Translation of 2010 Letter of Approval 

 

 Signature: 
  

					
	/s/ David Lavi	  	/s/ Nilimedix Ltd.	  	13.04.2010
	  
	  	  
	  	  

			
	Office	  	Company	  	Date

 Translation of 2010 Letter of Approval 

 
 Nilimedix Ltd. 

number at the registrar of companies: 513229708 
  

			
	To	  	 Date: 16.03.10

	Industrial Research and Development Administration,	  	 Company 5055

	The Office of Chief Scientist	  	
	Ministry of Industry, Trade and Employment	  	
	5 Bank Israel, PO Box 3166	  	
	Jerusalem	  	

 Dear Sir, 

Re: Undertaking Letter and Notice about the Commencement of Performance of Approved R&D Plan 

Subject: Advanced Passive Insulin Pump 

File Number: 42678 
 We hereby inform
you that we commenced performing the approved plan, according to the referenced approval letter on 1.12.09. 
  

	 	1.	We declare and undertake to comply with all the provisions of the Law for the Encouragement of Research and Development in Industry 5744-1984 (hereinafter the
“Law”), and including: 

  

	 	a.	the obligation not to transfer to another the knowledge, the rights on the knowledge and the manufacturing rights deriving from the research and development without the
approval of the research committee. 

  

	 	b.	to pay royalties and file all reports according to the Law and the Regulations for the Encouragement of Research and Development in Industry (Rate of Royalties and
Rules for their Application), 5756-1996 (hereinafter the “Royalties Regulations”) and the procedures of the Industrial Research and Development Administration (hereinafter the “Administration”). 

 

	 	2.	We declare that we have read all instructions and procedures for financial reporting for R&D purposes and we will comply with them, including in connection with the
computerized system for the reporting on hours in assignment to tasks. 

  

	 	3.	We consent to the attribution of this file numbered: 42678 to plan 28035, subject Innovative Insulin Pump. 

 Translation of 2010 Letter of Approval 

 

	 	4.	Additional Undertakings: 

Royalties shall be paid on income from all insulin pumps and accessories, spare parts, consumables, software, service.

  

	 	5.	We hereby declare that we have separated and distinguished account/s in the framework of our financial bookkeeping for the purpose of performing this plan. The
recordings made in the account/s are direct, chronological, primary, systematic and only according to documentation. 

  

	 	6.	We hereby declare that we are aware that the referenced grant shall be paid subject to the terms of the approval and according to the Administration’s procedures.

  

	 	7.	The attached budget, including its details, terms and appendices constitutes a binding framework. Expenses deviating from this detailed framework will not be
recognized, unless under the approval of the Administration. 

  

	 	8.	Procedures: 

  

	 	a.	The company shall be entitled to advancement according to the procedures, provided that it has actually commenced performance of the plan. The advancement shall be
off-set from payments due according to the financial reports, excluding current advancement. 

  

	 	b.	Any additional payment shall be executed according to a detailed financial report which corresponds to the Administration’s procedures. Payment shall be made after
review of the aforesaid report. The grant’s recipient is obliged to file a financial report once every three months and a technical report at least once every half a year, and this on the Administration’s forms or in the same format.

  

	 	c.	The truthfulness of the financial report shall be confirmed by an authorized representative of the company, and documents witnessing actual payments to subcontractors
shall be attached, if such expense is reported. 

  

	 	d.	Any payment with respect to the approved grant shall be considered as advanced payment only until the approval of the final report. Until the final report, no more than
90% (including current advancement) shall be paid from the lower of the budgeted grant or the expense in the financial report. The remaining balance shall be paid only following receipt of a final financial report and a final technical report
together with confirmation from an accountant on behalf of the company. The payment shall be made following examination of the reports by representatives of the Administration. 

 Translation of 2010 Letter of Approval 

 

	 	e.	The company’s books of accounts, including the company’s balance sheets, shall be open for review of the Administration during a period of 7 years from the
commencement of performance of the approved plan, or 6 years from filing the final financial report, the later of the two. 

  

	 	f.	The Administration will have the right to setoff any sum due from the recipient of the support out of grant approved hereby. 

 

	 	g.	The grant’s recipient is not entitled to stop performing the plan without the prior written approval from the head of the Administration. If the plan is ceased
without such approval, the Administration may and shall be entitled to demand the return of the grant plus interest and linkage differentials in accordance with the law. 

 

	 	h.	The grant’s recipient is obligated to file a final financial report approved by an accountant on its behalf in a format acceptable to the Office of the Chief
Scientist and a final technical report to the approved plan, no later than 3 months from the date of completion of the approved plan. 

  

	 	i.	The Administration is entitled to demand additional technical reports at any time. 

 

	 	j.	An expense shall not be recognized unless the consideration therefor is paid, except overhead in salaries item. 

 

	 	k.	In the final financial report only expenses accumulated during the approved research period and paid no later than 60 days from its termination shall be recognized.

  

	 	l.	The Administration may demand interest and linkage differentials as provided by law on any sum due to it from the recipient of the grant. 

 

	 	9.	The abovementioned terms do not derogate from any statute and law applicable to the grant for this file. 

 

	 	10.	We hereby undertake to comply with intellectual property laws as shall be practiced in Israel from time to time, and we consent that if we are convicted for violation
of any of the intellectual property laws the Administration shall be entitled to retrospectively terminate any benefit granted by you, including grant, loan, benefit or any other financial advantage, or any part of such benefit, and demand their
repayment including interest and linkage differentials, according to the law. 

 Translation of 2010 Letter of Approval 

 

 Signature confirmation for the company 

The undersigned attorney Arik Kaufman hereby confirms that Nilimedix Ltd. is lawfully registered in Israel; that Efri Argaman and Amir Loberman who have
signed this agreement on its behalf, have signed it before me and are authorized to do so on its behalf; that their signature on this agreement binds the company. 
  

			
	 Date: 22.3.10
	 	       Signature and stamp: /s/ Arik Kaufman

  

							
	/s/	  	Amir Lobemran	  	CFO	  	Nilimedix
				
	/s/	  	Efri Argaman	  	CEO	  	
				
	  
	  	  
	  	  
	  	  

				
	Signature	  	Name	  	Position	  	Company’s stamp

 Translation of 2010 Letter of Approval 

 
 State of Israel 

Ministry of Trade and Industry 

Industrial Research and Development Administration 

Office of Chief Scientist 
  

	
	Jerusalem                     
	
	Letter of Approval Number: 42678
	(Fiscal regulation: 38020101)
	Group: 13

 To: 

Nilimedix Ltd. 
 3 Ha’sadna 

Tirat Ha’Carmel 39032 

Appendix to Letter of Approval 

Compliance with Intellectual Property Laws 

We have acknowledged your undertaking from
                     to comply with intellectual property laws as shall be practiced in Israel from time to time, that if you are convicted
for violation of the intellectual property laws of Israel, by a final and un-appealable judgment in an Israeli court, we shall be entitled to terminate any benefit granted to you by the Industrial Research and Development Administration, including
grant, loan, tax benefit or any other financial advantage, or any part of such benefit, and demand their return including interest and linkage differentials according to the law. 

 

	
	Sincerely,
	
	 /s/

	Dr. Eli Ofer
	The Chief Scientist

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