Document:

exv4w1

Exhibit 4.1

REGISTRATION RIGHTS AGREEMENT

     This Registration Rights Agreement (this “Agreement”) is entered into as of September
16, 2009 (the “Execution Date”) among Weatherford International Ltd., a Swiss joint-stock
corporation (“Weatherford”), Integrity Energy International, LLC, a Delaware limited
liability company (the “Selling Entity”), Burt Loring Bull, William Max Duncan, Steven
Flores, as trustee of the Duncan Family Trust 1997, Billy Carson Saul (collectively, the
“Shareholders” and, together with the Selling Entity, the “Sellers”) and any other
Eligible Sellers (as defined below) who may become a party to this Agreement after the Execution
Date. Capitalized terms not otherwise defined herein shall have the meanings set forth in the
Purchase Agreement (as defined below).

PRELIMINARY STATEMENTS

     A. The Selling Entity is acquiring the Consideration Shares pursuant to a Share Purchase
Agreement dated September 10, 2009 (the “Purchase Agreement”) among Weatherford, the
Selling Entity and the Shareholders.

     B. As a condition to consummate the transactions contemplated by the Purchase Agreement,
Weatherford has agreed to enter into this Agreement with the Selling Entity and the Seller
Representative to set forth the registration rights to be granted by Weatherford to the Selling
Entity.

AGREEMENT

     The parties, intending to be legally bound, agree as follows:

     1. Certain Definitions. As used in this Agreement, the following terms not defined
elsewhere shall have the following respective meanings:

     “Blackout Period” shall mean, with respect to a registration, a period in each case
commencing on the day immediately after Weatherford notifies the Eligible Sellers that they are
required, pursuant to Section 4(f), to suspend offers and sales of Registrable Securities
because Weatherford, in the good faith judgment of its Board of Directors, has determined (because
of the existence of, or in anticipation of, any acquisition, financing activity, or other
transaction involving Weatherford, or the unavailability for reasons beyond Weatherford’s control
of any required financial statements, disclosure of information which is in its best interest not
to publicly disclose, or any other event or condition of similar significance to Weatherford) that
the registration and distribution of the Registrable Securities to be covered by such Registration
Statement, if any, would be seriously detrimental to Weatherford and its shareholders and ending on
the earlier of (a) the date upon which the material non-public information commencing the Blackout
Period is disclosed to the public or ceases to be material and (b) such time as Weatherford makes
such Registration Statement effective again, or allows sales pursuant to such Registration
Statement to resume; provided, however, that Weatherford shall limit its use of
Blackout Periods described in this Section 1, in the aggregate, to 30 Trading Days.

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     “Commission” shall mean the SEC or any other federal agency at the time administering
the Securities Act.

     “Eligible Seller” means the Selling Entity and each of its Permitted Transferees.

     “Final Prospectus Supplement” shall mean the prospectus supplement relating to the
Registration Statement and covering the Consideration Shares to be filed pursuant to Rule 424(b) of
the Securities Act, together with the base prospectus included in the Registration Statement.

     “Permitted Transferees” shall mean any Shareholder, any family member of a
Shareholder, any trust established for the benefit of a Shareholder or family member of a
Shareholder or any family limited partnership owned by a Shareholder or a family member of a
Shareholder to which any Eligible Seller transfers, sells or otherwise disposes of Consideration
Shares in accordance with applicable Laws and this Agreement.

     “Registrable Securities” shall mean the Consideration Shares delivered to the Selling
Entity pursuant to the terms of the Purchase Agreement; provided, however, that a
Registrable Security shall cease to be a Registrable Security upon the earlier of the time (a) the
Registration Statement covering such Registrable Security has been declared effective by the
Commission and such Registrable Security has been sold or disposed of pursuant to such effective
Registration Statement, (b) such Registrable Security has been, or can be in a single transaction
and without restriction, disposed of pursuant to any section of Rule 144 under the Securities Act
(or any similar provision then in force), or (c) such Registrable Security has been assigned, sold
or otherwise transferred in a transaction in which the transferor’s rights under this Agreement are
not assigned.

     “Registration Filing Date” shall mean five Business Days after the date on which the
Consideration Shares are delivered pursuant to Section 1.3 of the Purchase Agreement (or
such later date if extended pursuant to Section 3 hereof).

     “Registration Statement” shall mean Weatherford’s SEC registration statement on
Form S-3 (file number 333-150764-01), including the related base prospectus, and shall also include
for purposes of this Agreement, as applicable, the Final Prospectus Supplement and any other
amendments or supplements filed pursuant to this Agreement relating to the registration of
Registrable Securities or, in the event such registration statement shall no longer be effective or
shall otherwise become unavailable for the offer and sales of the Consideration Shares as
contemplated by this Agreement, a registration statement on such form as shall be appropriate for
the Eligible Sellers to offer and sell shares in the manner contemplated hereby.

     “SEC” shall mean the United States Securities and Exchange Commission.

     “SEC Effective Date” shall mean each date and time that the Registration Statement,
any post-effective amendment or amendments thereto first became or become effective.

     “Securities Act” shall mean the United States Securities Act of 1933, as amended.

     2. Term. The rights granted to the Eligible Sellers hereunder shall commence on the
date of the Registration and continue in full force and effect until the earlier of such time as
there

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are no Registrable Securities hereunder or Weatherford’s obligations under Section
4(a) have otherwise ceased, unless terminated sooner by written agreement of Weatherford and
the Eligible Sellers (in whole or solely regarding an applicable Eligible Seller).

     3. Registration. No later than the Registration Filing Date, Weatherford shall file
with the Commission a Final Prospectus Supplement relating to the Registration Statement and the
resale by the Eligible Sellers of all of the Consideration Shares comprising the Registrable
Securities and pay the registration fee with respect thereto; provided, however,
that Weatherford shall not be obligated to effect any such registration during any Blackout Period,
in which case the Registration Filing Date shall be extended to the date immediately following the
last day of such Blackout Period.

     4. Registration Procedures. In the case of each registration, qualification, or
compliance effected by Weatherford pursuant to Section 3 or Section 4(e) hereof,
Weatherford will keep each Eligible Seller including securities therein reasonably advised in
writing (which may include 
e-mail) as to the initiation of each registration, qualification, and
compliance and as to the completion thereof. At its expense with respect to the Registration
Statement and Final Prospectus Supplement filed pursuant to Section 3, Weatherford will:

          (a) use its commercially reasonable efforts to cause such Registration Statement to remain
effective at least for a period ending with the first to occur of (i) the date which is six months
following the Registration Filing Date (or for such longer period if extended pursuant to
Section 5), (ii) the sale of all Registrable Securities covered by the Registration
Statement, and (iii) the date which the unsold securities covered by the Registration Statement
cease to be Registrable Securities (in any case, the “Effectiveness Period”). Weatherford
shall be deemed not to have used its commercially reasonable efforts to cause such Registration
Statement to remain effective during the requisite period if it voluntarily takes any action that
would result in the Eligible Sellers covered thereby not being able to offer and sell such
securities during that period, unless such action is required by applicable Law.

          (b) if the Registration Statement is subject to review by the Commission, promptly respond to
all comments and use its commercially reasonable efforts to diligently pursue resolution of any
comments to the satisfaction of the Commission;

          (c) prepare and file with the Commission such amendments and supplements to the Registration
Statement and the Final Prospectus Supplement used in connection therewith as may be necessary to
keep the Registration Statement effective during the Effectiveness Period (but in any event at
least until expiration of the 90-day period referred to in Section 4(3) of the Securities Act and
Rule 174, or any successor thereto, thereunder, if applicable), and comply with the provisions of
the Securities Act with respect to the disposition of all securities covered by the Registration
Statement during such period in accordance with the intended method(s) of disposition by the
sellers thereof set forth in the Registration Statement;

          (d) furnish, without charge, to each Eligible Seller of Registrable Securities covered by the
Registration Statement (i) a reasonable number of copies of the Registration Statement (including
any exhibits thereto other than exhibits incorporated by reference), and of each amendment and
supplement thereto as such Eligible Seller may request, (ii) such number of

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copies of the prospectus included in the Registration Statement (including each preliminary
prospectus and any other prospectus filed under Rule 424 under the Securities Act) as such Eligible
Seller may reasonably request, in conformity with the requirements of the Securities Act, and (iii)
such other documents as such Eligible Seller may reasonably request in order to facilitate the
disposition of the Registrable Securities owned by such Eligible Seller, but only during the
Effectiveness Period;

          (e) use its commercially reasonable efforts to register or qualify such Registrable Securities
under such other applicable securities or blue sky laws of such jurisdictions as any Eligible
Seller of Registrable Securities covered by the Registration Statement reasonably requests as may
be necessary for the marketability of the Registrable Securities and do any and all other acts and
things which may be reasonably necessary or advisable to enable such Eligible Seller to consummate
the disposition in such jurisdictions of the Registrable Securities owned by such Eligible Seller;
provided that Weatherford shall not be required to (i) qualify generally to do business in
any jurisdiction where it would not otherwise be required to qualify but for this paragraph (e),
(ii) subject itself to taxation in any such jurisdiction, or (iii) consent to general service of
process in any such jurisdiction;

          (f) as promptly as practicable after becoming aware of such event, notify each Eligible Seller
of such Registrable Securities at any time when a prospectus relating thereto is required to be
delivered under the Securities Act of the happening of any event which comes to Weatherford’s
attention if as a result of such event the prospectus included in the Registration Statement
contains an untrue statement of a material fact or omits to state any material fact required to be
stated therein or necessary to make the statements therein not misleading, and Weatherford shall
promptly prepare and furnish to such Eligible Seller and, if applicable, file with the Commission
under the Securities Act, a supplement or amendment to such prospectus (or prepare and file
appropriate reports under the Exchange Act) so that, as thereafter delivered to the purchasers of
such Registrable Securities, such prospectus shall not contain an untrue statement of a material
fact or omit to state any material fact required to be stated therein or necessary to make the
statements therein not misleading, unless suspension of the use of such prospectus otherwise is
authorized herein or in the event of a Blackout Period, in which case no supplement or amendment
need be furnished (or Exchange Act filing made) until the termination of such suspension or
Blackout Period;

          (g) comply, and continue to comply during the period that the Registration Statement is
effective under the Securities Act, in all material respects with the Securities Act and the
Exchange Act and with all applicable rules and regulations of the Commission with respect to the
disposition of all securities covered by the Registration Statement, and make available to its
security holders, as soon as reasonably practicable, an earnings statement covering the period of
at least 12 months, but not more than 18 months, beginning with the first full calendar month after
the initial SEC Effective Date, which earnings statement shall satisfy the provisions of Section
11(a) of the Securities Act;

          (h) as promptly as practicable after becoming aware of such event, notify each Eligible Seller
of Registrable Securities being offered or sold pursuant to the Registration Statement of the
initiation by the Commission of any proceedings with respect to, or the issuance by the Commission
of any stop order or other suspension of effectiveness of the Registration

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Statement or the initiation of any proceeding against Weatherford pursuant to Section 8A of
the Securities Act and use its commercially reasonable efforts to prevent the issuance of such stop
order, obtain the revocation of such stop order or the lifting of such suspension or prevent the
initiation of such proceeding, as the case may be, as soon as practicable;

          (i) use its commercially reasonable efforts to cause all the Registrable Securities covered by
the Registration Statement to be listed on the New York Stock Exchange or such other principal
securities market on which securities of the same class or series issued by Weatherford are then
listed or traded;

          (j) provide a transfer agent and registrar, which may be a single entity, for the Registrable
Securities at all times;

          (k) cooperate with the Eligible Sellers that sell Registrable Securities pursuant to the
Registration Statement to issue and deliver such Registrable Securities in uncertificated
book-entry form (not bearing any restrictive notations) to be offered pursuant to the Registration
Statement and enable such book-entries to be in such denominations or amounts as the Eligible
Sellers may reasonably request, registered in such names as the Eligible Sellers may request within
the settlement period specified in Rule 15c6-1 under the Exchange Act; and

          (l) during the Effectiveness Period, refrain from bidding for or purchasing any Weatherford
Shares or any right to purchase Weatherford Shares or attempting to induce any Person to purchase
any such security or right if such bid, purchase or attempt would in any way limit the right of the
Eligible Sellers to sell Registrable Securities by reason of the limitations set forth in
Regulation M under the Exchange Act.

     5. Suspension of Offers and Sales. Each Eligible Seller of Registrable Securities
agrees that, upon receipt of any notice from Weatherford of the happening of any event of the kind
described in Section 4(f) hereof or of the commencement of a Blackout Period, such Eligible
Seller shall discontinue disposition of Registrable Securities pursuant to the Registration
Statement covering such Registrable Securities until such Eligible Seller’s receipt of the copies
of the supplemented or amended prospectus contemplated by Section 4(f) hereof or notice of
the end of the Blackout Period, and, if so directed by Weatherford, such Selling Entity shall
deliver to Weatherford (at Weatherford’s expense) all copies (including, without limitation, any
and all drafts), other than permanent file copies, then in such Eligible Seller’s possession, of
the prospectus covering such Registrable Securities current at the time of receipt of such notice.
In the event Weatherford shall give any such notice, the applicable period mentioned in Section
4(a)(i) hereof shall be extended by the greater of (i) 10 Business Days or (ii) the number of
days during the period from and including the date of the giving of such notice pursuant to
Section 4(f) hereof, or the commencement of a Blackout Period, to and including, as
applicable, the date when each Eligible Seller of Registrable Securities covered by the
Registration Statement shall have received the copies of the supplemented or amended prospectus
contemplated by Section 4(f) hereof or termination of a Blackout Period.

     6. Registration Expenses. Weatherford shall pay all required registration and filing
fees in connection with any registration of the Registrable Securities. Except as provided above
or elsewhere herein, each of Weatherford and the Selling Entity (on its behalf and on behalf of

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all Eligible Sellers) shall pay their own other expenses incurred in connection with any
Registration Statement filed pursuant to this Agreement, including, without limitation, the fees
and disbursements of their respective counsel, accountants, and other representatives.

     7. Assignment of Rights. No Eligible Seller may assign its rights under this
Agreement to any party without the prior written consent of Weatherford, which approval Weatherford
may withhold in its sole discretion; provided, however, that an Eligible Seller may
assign its rights under this Agreement without such consent to a Permitted Transferee as long as:
(a) such transfer or assignment is effected in accordance with applicable securities Laws; (b) such
Permitted Transferee agrees in writing to become a party to, and be subject to, the terms of this
Agreement by properly executing a joinder in the form attached hereto as Exhibit A, which
shall specify the name and address of the Permitted Transferee and identify the Registrable
Securities with respect to which such rights are being transferred or assigned; and (c) such
joinder is delivered to Weatherford. Weatherford shall, upon request of the transferring Eligible
Seller and its Permitted Transferee (and after receiving such joinder), file an amendment or
supplement to the Registration Statement (or, as appropriate, to the prospectus included therein)
to register sales of Registrable Securities by such Permitted Transferees and shall bear any and
all expenses incurred by it in connection with the first two amendments or supplements so
requested; provided that, notwithstanding anything else herein to the contrary, the Selling
Entity shall pay any and all expenses properly incurred by Weatherford in connection with any
subsequent amendments or supplements so requested by the Selling Entity, including, without
limitation, the reasonable fees and disbursements of Company’s counsel, accountants, and other
representatives incurred in connection therein.

     8. Information by Eligible Sellers; Free Writing Prospectuses.

          (a) The Eligible Sellers shall furnish to Weatherford such information regarding such Eligible
Sellers and the distribution proposed by such Eligible Sellers as Weatherford may reasonably
request in writing. The Selling Entity agrees that its name as it is to be listed in the
Registration Statement is accurately set forth above. Notwithstanding anything else herein to the
contrary, Weatherford shall have no obligation to file an amendment or supplement to the
Registration Statement (or, as appropriate, to the prospectus included therein) to register sales
of Registrable Securities by any Eligible Seller until such Eligible Seller (or the Selling Entity
on its behalf) shall have furnished Weatherford with all information and statements about or
pertaining to such Eligible Seller in such reasonable detail and on such timely basis as is
reasonably deemed by Weatherford to be legally required with respect to the preparation of such
filing.

          (b) None of the Selling Entity or any Eligible Seller (or any Person on their behalf) shall
prepare or use any Free Writing Prospectus (as such term is defined in Rule 405 under the
Securities Act) unless any and all issuer information included therein has been approved by
Weatherford in writing specifically for use by the Eligible Sellers in a Free Writing Prospectus,
which approval Weatherford may withhold in its reasonable discretion.

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     9. Indemnification.

          (a) In connection with the offer and sale of Registrable Securities under the Registration
Statement, Weatherford shall, and hereby does, indemnify and hold harmless, to the fullest extent
permitted by Law, each Eligible Seller, its directors, officers, each other Person who participates
as an underwriter in the offering or sale of such securities, and each Person, if any, who controls
any such Eligible Seller or any such underwriter within the meaning of the Securities Act or the
Exchange Act against any Losses to which any such Person may become subject under the Securities
Act or the Exchange Act insofar as such Losses (or Proceedings in respect thereof) arise out of or
are based upon any untrue statement or alleged untrue statement of any material fact contained in
any Registration Statement under which such Registrable Securities were registered under the
Securities Act, any preliminary prospectus, final prospectus or summary prospectus contained
therein, or any amendment or supplement thereto, or any omission or alleged omission to state
therein a material fact required to be stated therein or necessary to make the statements therein
not misleading (with respect to the Registration Statement) or not misleading in light of the
circumstances under which they were made (with respect to any prospectus), and Weatherford shall
reimburse the Eligible Seller for any legal or any other Losses reasonably incurred by them in
connection with investigating, defending or settling any such Loss or Proceeding; provided
that Weatherford shall not be liable in any such case (i) to the extent that any such Loss (or
Proceeding in respect thereof) or expense arises out of or is based upon an untrue statement or
alleged untrue statement in or omission or alleged omission from such Registration Statement, any
such preliminary prospectus, final prospectus, summary prospectus, amendment or supplement in
reliance upon and in conformity with information furnished to Weatherford by or on behalf of such
Eligible Seller or (ii) if Weatherford had provided to such Eligible Seller a copy of an amended
preliminary prospectus or final prospectus that corrected such untrue or alleged untrue statement
or such omission or alleged omission and the Person asserting any such Loss (or Proceeding in
respect thereof) who purchased the Registrable Securities that are the subject thereof did not
receive a copy of such preliminary or final prospectus at or prior to the written confirmation of
the sale of such Registrable Securities to such Person because of the failure of such Eligible
Seller to so provide such amended preliminary or final prospectus. Such indemnity shall remain in
full force and effect regardless of any investigation made by or on behalf of the Eligible Seller
and shall survive the transfer of such shares by the Eligible Sellers.

          (b) As a condition to including any Registrable Securities to be offered by an Eligible Seller
in the Registration Statement filed pursuant to this Agreement, each such Eligible Seller agrees to
be bound by the terms of this Section 9(b) and to indemnify and hold harmless, to the
fullest extent permitted by Law, Weatherford against any Losses to which Weatherford may become
subject under the Securities Act or otherwise, insofar as such Losses (or Proceedings in respect
thereof) arise out of or are based upon any untrue statement or alleged untrue statement in or
omission or alleged omission from such Registration Statement, any preliminary prospectus, final
prospectus or summary prospectus contained therein, or any amendment or supplement thereto, if such
statement or alleged statement or omission or alleged omission was made in reliance upon and in
conformity with information about such Eligible Seller furnished to Weatherford by or on behalf of
such Eligible Seller, and such Eligible Seller shall reimburse Weatherford for any legal or other
expenses reasonably incurred by it in connection with investigating, defending, or settling any
such Loss or Proceeding; provided,

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however, that the indemnity pursuant to this Section 9(b) shall in no event exceed the
gross proceeds from the offering received by such Eligible Seller. Such indemnity shall remain in
full force and effect, regardless of any investigation made by or on behalf of Weatherford and
shall survive the transfer by any Eligible Seller of such shares.

          (c) Promptly after receipt by an indemnified party of notice of the commencement of any
Proceeding involving a claim referred to in Section 9(a) or (b) hereof (including
any governmental action), such indemnified party shall, if a claim in respect thereof is to be made
against an indemnifying party, give written notice to the indemnifying party of the commencement of
such action; provided that the failure of any indemnified party to give notice as provided
herein shall not relieve the indemnifying party of its obligations under Section 9(a) or
(b) hereof, except to the extent that the indemnifying party is prejudiced by such failure
to give notice. In case any such Proceeding is brought against an indemnified party, unless in the
reasonable judgment of counsel to such indemnified party a conflict of interest between such
indemnified and indemnifying parties may exist or the indemnified party may have defenses not
available to the indemnifying party in respect of such claim, the indemnifying party shall be
entitled to participate in and to assume the defense thereof, with counsel reasonably satisfactory
to such indemnified party and, after notice from the indemnifying party to such indemnified party
of its election so to assume the defense thereof, the indemnifying party shall not be liable to
such indemnified party for any legal or other expenses subsequently incurred by the latter in
connection with the defense thereof, unless in such indemnified party’s reasonable judgment a
conflict of interest between such indemnified and indemnifying parties arises in respect of such
claim after the assumption of the defenses thereof or the indemnifying party fails to defend such
claim in a diligent manner, other than reasonable costs of investigation. Neither an indemnified
nor an indemnifying party shall be liable for any settlement of any Proceeding effected without its
consent. No indemnifying party shall, without the consent of the indemnified party, consent to
entry of any judgment or enter into any settlement, which does not include as an unconditional term
thereof the giving by the claimant or plaintiff to such indemnified party of a release from all
Liability in respect of such claim. Notwithstanding anything to the contrary set forth herein, and
without limiting any of the rights set forth above, in any event any party shall have the right to
retain, at its own expense, counsel with respect to the defense of a claim.

          (d) If the indemnification provided for in this Section 9 is held by a court of
competent jurisdiction to be unavailable to an indemnified party with respect to any Loss referred
to herein, the indemnifying party, in lieu of indemnifying such indemnified party hereunder, shall
(i) contribute to the amount paid or payable by such indemnified party as a result of such Loss or
Proceeding as is appropriate to reflect the proportionate relative fault of the indemnifying party
on the one hand and the indemnified party on the other (determined by reference to, among other
things, whether the untrue or alleged untrue statement of a material fact or omission relates to
information supplied by the indemnifying party or the indemnified party and the parties’ relative
intent, knowledge, access to information and opportunity to correct or prevent such untrue
statement or omission), or (ii) if the allocation provided by clause (i) above is not permitted by
applicable Law or provides a lesser sum to the indemnified party than the amount hereinafter
calculated, not only the proportionate relative fault of the indemnifying party and the indemnified
party, but also the relative benefits received by the indemnifying party on the one hand and the
indemnified party on the other, as well as any other relevant equitable considerations;
provided, however, that each Eligible Seller shall not be liable for any such Loss

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in an amount greater than such Eligible Seller received as gross proceeds from the sale of
such Eligible Seller’s Registrable Securities. No indemnified party guilty of fraudulent
misrepresentation (within the meaning of Section 11(f) of the Securities Act) shall be entitled to
contribution from any indemnifying party who was not guilty of such fraudulent misrepresentation.

     10. Rule 144. For the a period of at least six months following Registration,
Weatherford will use its commercially reasonable efforts (a) to timely file all reports required to
be filed by Weatherford after the date hereof under the Securities Act and the Exchange Act
(including the reports pursuant to Section 13(a) or 15(d) of the Exchange Act referred to in
subparagraph (c)(1) of Rule 144) and the rules and regulations adopted by the Commission
thereunder), and (b) if Weatherford is not required to file reports pursuant to such sections, it
will prepare and furnish to the Eligible Sellers and make publicly available in accordance with
Rule 144(c) such information as is required for the Eligible Sellers to sell Weatherford Shares
under Rule 144, all to the extent required from time to time to enable the Eligible Sellers to sell
Weatherford Shares without registration under the Securities Act within the limitation of the
exemptions provided by Rule 144.

     11. Miscellaneous.

          (a) Seller Representative. The Selling Entity and each Shareholder hereby appoint and
agree that the Seller Representative shall represent the Selling Entity, each Shareholder and their
respective Eligible Sellers in all matters pertaining to this Agreement following the Execution
Date (the “Assigned Powers”). Weatherford agrees to the appointment of the Seller
Representative and that, unless and until a termination notice has been received in accordance with
the next succeeding paragraph, any and all matters under this Agreement within the Assigned Powers
shall be communicated to and resolved with the Seller Representative. By execution of this
Agreement, the Selling Entity and each Shareholder irrevocably constitutes and appoints the Seller
Representative, with full power of substitution, as his or her true and lawful attorney-in-fact to
perform any acts within the Assigned Powers. This power of attorney is effective immediately and
is not affected by the subsequent disability or incapacity of any Seller. No event which would
otherwise act to revoke this power of attorney by law shall be effective as to a third party until
the third party receives actual notice of the revocation. Each of the Sellers agrees that any
third party who receives a copy of this Agreement may rely upon the appointment contained herein.
Any Seller may revoke this power of attorney only by giving written notice of termination to the
Seller Representative and Weatherford pursuant to Section 12.3 of the Purchase Agreement
not fewer than five Business Days prior to the effective date of such termination.

          (b) Governing Law. This Agreement shall be governed by and construed and enforced in
accordance with the Laws of the State of Texas (without regard to its conflicts of Laws principles)
applicable to Contracts made and performed entirely in Texas by residents of Texas.

          (c) Assignment and Successors. Except as otherwise provided herein, the provisions
hereof shall inure to the benefit of, be binding upon and be enforceable by the parties hereto and
their respective successors and Permitted Transferees.

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          (d) Entire Agreement. This Agreement constitutes the entire agreement and
understanding between the parties relating to the subject matter hereof and thereof and supersede
all prior representations, endorsements, premises, agreements, memoranda communications,
negotiations, discussions, understandings and arrangements, whether oral, written or inferred,
between the parties relating to the subject matter hereof. This Agreement may not be modified,
amended, rescinded, canceled, altered or supplemented, in whole or in part, except upon the
execution and delivery of a written instrument executed by a duly authorized representative of
Weatherford and the Seller Representative.

          (e) Notices. All notices, requests, Consents, directions and other instruments and
communications required or permitted to be given under this Agreement shall be in writing and shall
be deemed to have been duly given if delivered in person, by courier, by overnight delivery service
with proof of delivery or by prepaid registered or certified first-class mail, return receipt
requested, addressed to the respective party, or if sent by facsimile or other similar form of
communication (with receipt confirmed), in each case to the addresses or facsimile number and
marked to the attention of the individual’s name set forth in Section 12.3 of the Purchase
Agreement or to such other address or facsimile number and to the attention of such other Person as
either party may designate by written notice. Any notice mailed shall be deemed to have been given
and received on the fifth Business Day following the day of mailing.

          (f) Fax and Counterparts. This Agreement may be executed by facsimile or portable
document format (.pdf) and in any number of counterparts, each of which shall be deemed an
original, but all of which together shall constitute one and the same instrument.

          (g) Severability. Any provision hereof that is prohibited or unenforceable in any
jurisdiction shall, as to such jurisdiction, be ineffective to the extent of such prohibition or
unenforceability without invalidating the remaining provisions hereof, and any such prohibition or
unenforceability in any jurisdiction shall not invalidate or render unenforceable such provision in
any other jurisdiction. Upon such determination that any term or other provision is invalid,
illegal or incapable of being enforced, the parties 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 to the end that the transactions contemplated hereby are fulfilled to the fullest
extent possible.

          (h) Effective Date of this Agreement. This Agreement will be effective as of the date
of the Registration.

(Signature page follows)

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     The parties have duly executed this Agreement as of the Execution Date.

	 	 	 	 	 	 	 
	 	 	Weatherford:	 	 
	 
	 	 	 	 	 	 
	 	 	Weatherford International Ltd.	 	 
	 
	 	 	 	 	 	 
	 

	 	By:	 	/s/ Joseph C. Henry	 	 
	 

	 		 	 
	 	 
	 

	 	Name:
	 	Joseph C. Henry
	 	 
	 

	 	Title:
	 	Vice President
	 	 
	 

	 	 	 	
	 	 
	 
	 	 	 	 	 	 
	 	 	Selling Entity:	 	 
	 
	 	 	 	 	 	 
	 	 	Integrity Energy International, LLC	 	 
	 
	 	 	 	 	 	 
	 

	 	By:	 	/s/ William Max Duncan	 	 
	 

	 		 	 
	 	 
	 

	 	Name:
	 	William Max Duncan
	 	 
	 

	 	Title:
	 	President
	 	 
	 

	 	 	 		 	 
	 
	 	 	 	 	 	 
	 	 	Shareholders:	 	 
	 
	 
	 	 /s/ Burt Loring Bull	 	 
	 	 	 	 	 
	 	 	Burt Loring Bull	 	 
	 
	 
	 	/s/ William Max Duncan	 	 
	 	 	 	 	 
	 	 	William Max Duncan	 	 
	 
	 
	 	/s/ Steven Flores, Trustee	 	 
	 	 	 	 	 
	 	 	Steven Flores, as trustee of the Duncan
Family Trust 1997	 	 
	 
	 
	 	/s/ Billy Carson Saul	 	 
	 	 	 	 	 
	 	 	Billy Carson Saul	 	 

[Signature page to Registration Rights Agreement]

 

EXHIBIT A

FORM OF JOINDER

     Pursuant to Section 7 of the Registration Rights Agreement dated September 16, 2009
(the “Agreement”) among Weatherford International Ltd., a Swiss joint-stock corporation
(“Weatherford”), Integrity Energy International, LLC, a Delaware limited liability company
(the “Selling Entity”), the Shareholders and any other Eligible Seller as provided in the
Agreement, the undersigned Eligible Seller and the undersigned Permitted Transferee, as those terms
and any other capitalized terms used but not defined herein are defined in the Agreement, hereby
agree as follows:

	 	1)	 	Such Eligible Seller hereby assigns its rights under the Agreement to such Permitted
Transferee solely in respect of the Registrable Securities identified on the signature page
hereto; provided, however, such Eligible Seller remains otherwise subject
to the terms and conditions of, and remains liable for any and all of its obligations
under, the Agreement;
	 
	 	2)	 	Such Permitted Transferee hereby accepts such assignment and agrees to become a party
to, and be subject to, the terms and conditions of the Agreement; and
	 
	 	3)	 	Pursuant to Section 7 of the Agreement, such Eligible Seller and such Permitted
Transferee hereby request that Weatherford file an amendment or supplement to the
Registration Statement (or, as appropriate, to the prospectus included therein) to register
sales of the Registrable Securities identified below by such Permitted Transferee.

(Signature page follows)

 

     The undersigned have duly executed this joinder on this ___ day of                     , 20___.

	 	 	 	 	 	 	 
	 	 	Eligible Seller:	 	 
	 
	 	 	 	 	 	 
	 

	 	By:	 	 	 	 
	 

	 	Name:
	 	 

	 	 
	 

	 	Title:
	 	 

	 	 
	 

	 	 	 	 

	 	 
	 
	 	 	 	 	 	 
	 	 	Permitted Transferee:	 	 
	 
	 	 	 	 	 	 
	 

	 	By:	 	 	 	 
	 

	 	Name:
	 	 

	 	 
	 

	 	Title:
	 	 

	 	 
	 

	 	 	 	 

	 	 
	 
	 	 	 	 	 	 
	 	 	Address:	 	 
	 
	 	 	 	 	 	 
	 

	 	 	 	 

	 	 
	 

	 	 	 	 

	 	 
	 

	 	 	 	 

	 	 
	 
	 	 	 	 	 	 
	 	 	Registrable Securities:	 	 
	 
	 	 	 	 	 	 
	 

	 	 	 	 

	 	 
	 

	 	 	 	 

	 	 
	 

	 	 	 	 

	 	 

[Signature page to Form of Joinder]

13Exhibit 10.3

EXHIBIT 10.3

PERSONAL EMPLOYMENT AGREEMENT

THIS PERSONAL EMPLOYMENT AGREEMENT (the “Agreement”) is made and entered into this 6th day of May,
2009 by and between TopSpin Medical (Israel) Ltd. (the “Company”), and Eldad Yehieli (the
“Employee”).

General

1. Position. The Employee shall serve as the Finance Manager of the Company and the
Company’s parent corporation, TopSpin Medical, Inc. (the “Parent”). The Employee shall report
regularly and shall be subject to the direction and control of the Company’s Chief Executive
Officer or, if no person is serving in such capacity, the Company’s Board of Directors or anyone
designated by it for this purpose. The Employee shall perform his duties diligently,
conscientiously and in furtherance of the Company’s best interests. The Employee agrees and
undertakes to inform the Company, immediately after becoming aware of any matter that may in any
way raise a conflict of interest between the Employee and the Company. During his employment by the
Company, the Employee shall not receive any payment, compensation or benefit from any third party
in connection, directly or indirectly, with his position in the Company.

2. Full Time Employment. The Employee will be employed on a full time basis. The Employee
shall devote his entire business time and attention to the business of the Company and shall not
undertake or accept any other paid or unpaid employment or occupation or engage in any other
business activity, except with the prior written consent of the Company.

3. Employee’s Representations and Warranties.

3.1. The Employee represents and warrants that the execution and delivery of this Agreement and the
fulfillment of its terms: (i) will not constitute a default under or conflict with any agreement or
other instrument to which he is a party or by which he is bound; and (ii) do not require the
consent of any person or entity. Further, with respect to any past engagement of the Employee with
third parties and with respect to any permitted engagement of the Employee with any third party
during the term of his engagement with the Company (for purposes hereof, such third parties shall
be referred to as “Other Employers”), the Employee represents, warrants and undertakes that: (a)
his engagement with the Company is and/or will not be in breach of any of his undertakings toward
Other Employers, and (b) he will not disclose to the Company, nor use, in provision of any services
to the Company, any proprietary or confidential information belonging to any Other Employer.

3.2. The Employee acknowledges and agrees that all information technology systems of the Company to
which he shall have access are the sole and exclusive property of the Company, and that all such
systems are and shall be monitored by the Company regularly, at its discretion. Employee
understands that he should have no expectation of privacy in his use of such systems.

Term and Termination of Employment

4. Term. The Employee’s employment by the Company will commence on May 6, 2009 (the
“Commencement Date”), and shall continue until it is terminated pursuant to the terms set forth
herein.

5. Termination at Will. Either party may terminate the employment relationship hereunder at
any time by giving the other party 45 days prior written notice (the “Notice Period”). It is
clarified that the Company is entitled to terminate this Agreement and the employment relationship
with immediate effect upon a written notice to Employee and payment to the Employee of a one time
amount equal to the Salary (as defined below) to which the Employee would have been entitled during
the Notice Period, in
lieu of such prior notice.

 

 

 

6. Termination for Cause. The Company may immediately terminate the employment relationship
for Cause, and such termination shall be effective as of the time of notice of the same. “Cause”
means (a) a material breach of this Agreement; (b) any willful failure to perform or willful
failure to perform competently any of the Company’s instructions or any of the Employee’s
fundamental functions or duties hereunder; (c) engagement in willful misconduct or acting in bad
faith with respect to the Company, (d) conviction of a felony involving moral turpitude; or (e) any
cause justifying termination or dismissal in circumstances in which the Company can deny the
Employee severance payment under applicable law.

7. Notice Period; End of Relations. During the Notice Period and unless otherwise
determined by the Company in a written notice to the Employee, the employment relationship
hereunder shall remain in full force and effect, the Employee shall be obligated to continue to
discharge and perform all of his duties and obligations with Company, and the Employee shall
cooperate with the Company and assist the Company with the integration into the Company of the
person who will assume the Employee’s responsibilities.

Covenants

8. Proprietary Information; Assignment of Inventions and Non-Competition. By executing this
Agreement the Employee confirms and agrees to the provisions of the Company’s Proprietary
Information, Assignment of Inventions and Non-Competition Agreement attached as Schedule A hereto.

Salary
and Additional Compensation; Insurance; Advanced Study Fund

9. Salary. The Company shall pay to the Employee as compensation for the employment
services a base salary in the gross amount of NIS25,000 (the “Salary”). The parties agree that the
Salary includes all payments due from the Company for any and all daily travel costs to which he
may be entitled under any applicable law, collective bargaining agreements or orders, to the extent
any apply. Except as specifically set forth herein, the Salary includes any and all payments to
which the Employee is entitled from the Company hereunder and under any applicable law, regulation
or agreement. The Salary and any other amount to be paid to the Employee by the Company under this
Agreement, is to be paid to the Employee in accordance with the Company’s normal and reasonable
payroll practices, after deduction of applicable taxes and like payments.

Position of Trust. The Employee agrees that Employee’s position is one that requires a
special measure of personal trust and loyalty. Therefore, the provisions of the Hours of Work and
Rest Law-1951 shall not apply to the Employee and the Employee shall not be entitled to any
compensation for working more than the maximum number of hours per week set forth in such Law in
addition to the compensation set forth in this Section 9.

10. Manager’s Insurance 

10.1. The Company will insure the Employee under a “Manager’s Insurance Policy” to be selected by
the Company (the “Policy”), and shall remit to the Policy as follows: (i) an amount equal to 5% of
the Salary for savings and risk component; (ii) an amount equal to 8 1/3% of the Salary for
severance pay component (the “Severance Pay Component”); and (iii) amount of up to 2.5% (two and
half percents) of the Salary for loss of earning capacity component, (collectively, the “Company’s
Contribution”). In addition, the Company shall deduct from the Employee’s Salary an amount equal to
5% of the Salary, which it shall remit to the Policy for the savings and risk component (the
“Employee’s Contributions”).

10.2. The Company undertakes to transfer the Policy to the Employee within a reasonable time after
termination of the Employee’s employment with the Company, whether terminated by the Company or the
Employee.

 

 

 

10.3. The Company’s Contributions will be in lieu of the severance pay that the Employee will be
entitled to in the event of his termination, all in accordance with the provisions of Section 14 of
the Severance Pay Law, 5723-1963. The Employee’s signature on this Agreement represents the
Employee’s agreement to the content of this section. The Company waives in advance any right it may
have in the future for the return of the Company’s
Contributions, or any of them, unless:

10.3.1. The Employee’s entitlement for severance pay has been deprived by a judgment, under the
provisions of sections 16 or 17 of the Severance Pay Law, 5723-1963, and as long as it was so
deprived; or

10.3.2. The employee has withdrawn monies from the Policy not in circumstances of death, disability
or retirement at the age of 60 or more.

A copy of the Order and Confirmation Regarding Payments of Employers to Pension Funds and
Insurance Funds instead of Severance Pay is attached as Schedule B to this Agreement.

10.4. The Company’s Contribution to the Policy shall be calculated solely based on the Salary, and
the Employee’s entitlement to severance pay, if any, shall be calculated solely based on the Salary
and no other payment, right or benefit to which the Employee is entitled under this Agreement or by
law shall be taken into account in such calculations.

11. Further Education Fund. The Company together with the Employee will maintain a Further
Education Fund (“Keren Hishtalmut”). Each month, the Company shall contribute to such fund an
amount equal to 7.5% of the Salary and the Employee shall contribute to such fund an amount equal
to 2.5% of the Salary. All of the Employee’s aforementioned contributions shall be transferred to
the fund by the Company by deducting such amounts from each monthly Salary payment. Notwithstanding
the aforesaid, the Employee may instruct the Company in writing to pay him directly, together with
his/hers monthly Salary and after deducting the applicable taxes, the amount exceeding the income
tax exempted amount. For the avoidance of doubt, no amount remitted by the Company in respect of
this Section 11 shall be considered as part of the Salary for purposes of any deduction therefrom
or calculation of severance pay.

Additional Benefits

12. Expenses. The Company will reimburse the Employee for business expenses borne by the
Employee, provided that such expenses were approved in advance by the Company, and against valid
invoices furnished by the Employee to the Company.

13. Vacation. The Employee shall be entitled to 16 paid vacation days during each year, to
be taken at times subject to the reasonable approval of the Company. Up to 15 of unused vacation
days may be carried forward from one year to the next and any such carried unused vacation day
shall be forfeited without any payment at the end of the second year. The Employee shall not
receive payment in lieu of any accrued and unused vacation days, except in the context of his
termination in accordance with applicable law.

14. Sick Leave; Recuperation Pay. The Employee shall be entitled to sick leave and
Recuperation Pay (“Dmei Havra’a”) pursuant to applicable law.

15. Company Car. Employee shall be entitled to the full time use of a class 2 Company car.
The Company shall pay all the expenses in connection with the maintenance and use of the said car,
except for the applicable tax and other payments as set forth below. Employee hereby undertakes to
use the car reasonably and properly, as if he owned the car, and to return the car to Company
immediately upon the termination of this Agreement. The Employee shall be liable for any and all
income tax liability applicable to the Company providing him with the car. The Employee hereby
covenants to pay and to bear any fine regarding parking violation, traffic violation or any other
violation, and to bear any expense
with respect to any trial or other proceeding thereto and Employee hereby irrevocably authorizes
and instructs Company to deduct from the Salary any costs incurred due to any violation of law.

 

 

 

16. Options. The Employee shall be granted options to purchase up to 1,500,000 shares of
Common Stock of the Parent, pursuant to the option agreement to be signed by the Employee and the
Parent.

Miscellaneous

17. The laws of the State of Israel shall apply to this Agreement and the sole and exclusive place
of jurisdiction in any matter arising out of or in connection with this Agreement shall be the
Tel-Aviv Regional Labor Court. The provisions of this Agreement are in lieu of the provisions of
any collective bargaining agreement, and therefore, no collective bargaining agreement shall apply
with respect to the relationship between the parties hereto (subject to the applicable provisions
of law). No failure, delay of forbearance of either party in exercising any power or right
hereunder shall in any way restrict or diminish such party’s rights and powers under this
Agreement, or operate as a waiver of any breach or nonperformance by either party of any terms of
conditions hereof. In the event it shall be determined under any applicable law that a certain
provision set forth in this Agreement is invalid or unenforceable, such determination shall not
affect the remaining provisions of this Agreement unless the business purpose of this Agreement is
substantially frustrated thereby. The preface and schedules to this Agreement constitute an
integral and indivisible part hereof. This Agreement constitutes the entire understanding and
agreement between the parties hereto, supersedes any and all prior discussions, agreements and
correspondence with regard to the subject matter hereof, including, without limitation, the
Previous Agreement, and may not be amended, modified or supplemented in any respect, except by a
subsequent writing executed by both parties hereto. The Employee acknowledges and confirms that all
terms of the Employee’s employment are personal and confidential, and undertake to keep such term
in confidence and refrain from disclosing such terms to any third party.

IN WITNESS WHEREOF the parties have signed this Agreement as of the date first hereinabove set
forth.

	 	 	 	 
	TopSpin Medical (Israel) Ltd.

	 	Eldad Yehieli
	 
		 	 
	By: 	/s/ Avi Molcho

	 	/s/ Eldad Yehieli
	 	 

	 	 
	 
	 Avi Molcho	 	 
	 
	Title: Director	 	 

 

 

 

Schedule A

Name of Employee: Eldad Yehieli

ID No. of Employee:
 _____ 

General

1. Capitalized terms herein shall have the meanings ascribed to them in the Agreement to which this
Schedule is attached (the “Agreement”). For purposes of any undertaking of the Employee toward the
Company, the term Company shall include any subsidiaries and affiliates of the Company. The
Employee’s obligations and representations and the Company’s rights under this Schedule shall apply
as of the Commencement Date, regardless of the date of execution of the Agreement.

Confidentiality; Proprietary Information

2. “Proprietary Information” means confidential and proprietary information concerning the business
and financial activities of the Company, including patents, patent applications, trademarks,
copyrights, brand names and other intellectual property, and information relating to the same,
technologies and products (actual or planned), know how, inventions, research and development
activities, inventions, trade secrets and industrial secrets, and also confidential commercial
information such as investments, investors, employees, customers, suppliers, marketing plans, etc.,
all the above — whether documentary, written, oral or computer generated. Proprietary Information
shall also include information of the same nature which the Company may obtain or receive from
third parties.

3. Proprietary Information shall be deemed to include any and all proprietary information disclosed
by or on behalf of the Company and irrespective of form but excluding information that (i) was
known to Employee prior to Employee’s association with the Company, as evidenced by written
records; (ii) is or shall become part of the public knowledge except as a result of the breach of
the Agreement or this Schedule by Employee; (iii) reflects general skills and experience; or (iv)
reflects information and data generally known in the industries or trades in which the Company
operates.

4. Employee recognizes that the Company received and will receive confidential or proprietary
information from third parties, subject to a duty on the Company’s part to maintain the
confidentiality of such information and to use it only for certain limited purposes. In connection
with such duties, such information shall be deemed Proprietary Information hereunder, mutatis
mutandis.

5. Employee agrees that all Proprietary Information, and patents, trademarks, copyrights and other
intellectual property and ownership rights in connection therewith shall be the sole property of
the Company its subsidiaries and their assigns. At all times, both during the employment
relationship and after the termination of the engagement between the parties, Employee will keep in
confidence and trust all Proprietary Information, and will not use or disclose any Proprietary
Information or anything relating to it without the written consent of the Company or its
subsidiaries, except as may be necessary in the ordinary course of performing Employee’s duties
under the Agreement.

6. Upon termination of Employee’s engagement with the Company, Employee will promptly deliver to
the Company all documents and materials of any nature pertaining to Employee’s engagement with the
Company, and will not take with his any documents or materials or copies thereof containing any
Proprietary Information.

7. Employee’s undertakings set forth in Section 1 through Section 6 shall remain in full force and
effect after termination of the Agreement or any renewal thereof.

Disclosure and Assignment of Inventions

8. “Inventions” means any and all inventions, improvements, designs, concepts, techniques, methods,
systems, processes, know how, brand names, computer software programs, databases, mask works and
trade secrets, whether or not patentable, copyrightable or protectible as trade secrets;
“Company Inventions” means any Inventions that are made or conceived or first reduced to practice
or created by Employee, whether alone or jointly with others, during the period of Employee’s
engagement with the Company, and which are: (i) developed using equipment, supplies, facilities or
Proprietary Information of the Company, (ii) result from work performed by Employee for the
Company, or (iii) related to the field of business of the Company, or to current or anticipated
research and development.

 

 

 

9. Employee undertakes and covenants he will promptly disclose in confidence to the Company all
Inventions deemed as Company Inventions. The Employee agrees and undertakes not to disclose to the
Company any confidential information of any third party and, in the framework of his employment by
the Company, not to make any use of any intellectual property rights of any third party.

10. Employee hereby irrevocably transfers and assigns to the Company all worldwide patents, patent
applications, copyrights, mask works, trade secrets and other intellectual property rights in any
Company Invention, and any and all moral rights that he may have in or with respect to any Company
Invention.

11. Employee agrees to assist the Company, at the Company’s expense, in every proper way to obtain
for the Company and enforce patents, copyrights, mask work rights, and other legal protections for
the Company Inventions in any and all countries. Employee will execute any documents that the
Company may reasonably request for use in obtaining or enforcing such patents, copyrights, mask
work rights, trade secrets and other legal protections. Such obligation shall continue beyond the
termination of Employee’s engagement with the Company. Employee hereby irrevocably designates and
appoints the Company and its authorized officers and agents as Employee’s agent and attorney in
fact, coupled with an interest to act for and on Employee’s behalf and in Employee’s stead to
execute and file any document needed to apply for or prosecute any patent, copyright, trademark,
trade secret, any applications regarding same or any other right or protection relating to any
Proprietary Information (including Company Inventions), and to do all other lawfully permitted acts
to further the prosecution and issuance of patents, copyrights, trademarks, trade secrets or any
other right or protection relating to any Proprietary Information (including Company Inventions),
with the same legal force and effect as if executed by Employee himself.

Non-Competition

12. In consideration of Employee’s terms of employment hereunder, which include special
compensation for his undertakings under this Section 12 and the following Section 13, and in order
to enable the Company to effectively protect its Proprietary Information, Employee agrees and
undertakes that he will not, so long as the Agreement is in effect and for a period of twelve (12)
months following termination of the Agreement, for any reason whatsoever, directly or indirectly,
in any capacity whatsoever, engage in, become financially interested in, be employed by, or have
any connection with any business or venture that is engaged in any activities competing with the
activities of the Company.

13. Employee agrees and undertakes that during the employment relationship and for a period of
twelve (12) months following termination of this engagement for whatever reason, Employee will not,
directly or indirectly, including personally or in any business in which Employee may be an
officer, director or shareholder, solicit for employment any person who is employed by the Company,
or any person retained by the Company as a consultant, advisor or the like who is subject to an
undertaking towards the Company to refrain from engagement in activities competing with the
activities of the Company (for purposes hereof, a “Consultant”), or was retained as an employee or
a Consultant during the six months preceding termination of Employee’s employment with the Company.

 

 

 

Reasonableness of Protective Covenants

14. Insofar as the protective covenants set forth in this Schedule are concerned, Employee
specifically acknowledges, stipulates and agrees as follows: (i) the protective covenants are
reasonable and necessary to protect the goodwill, property and Proprietary Information of the
Company, and the operations and business of the Company; and (ii) the time duration of the
protective covenants is reasonable and necessary to protect the goodwill and the operations and
business of Company, and does not impose a greater restrain than is necessary to protect the
goodwill or other business interests of the
Company. Nevertheless, if any of the restrictions set forth in this Schedule is found by a court
having jurisdiction to be unreasonable or overly-broad as to geographic area, scope or time or to
be otherwise unenforceable, the parties hereto intend for the restrictions set forth in this
Schedule to be reformed, modified and redefined by such court so as to be reasonable and
enforceable and, as so modified by such court, to be fully enforced.

Remedies for Breach

15. Employee acknowledges that the legal remedies for breach of the provisions of this Schedule may
be found inadequate and therefore agrees that, in addition to all of the remedies available to
Company in the event of a breach or a threatened breach of any of such provisions, the Company may
also, in addition to any other remedies which may be available under applicable law, obtain
temporary, preliminary and permanent injunctions against any and all such actions.

Intent of Parties

16. Employee recognizes and agrees: (i) that this Schedule is necessary and essential to protect
the business of Company and to realize and derive all the benefits, rights and expectations of
conducting Company’s business; (ii) that the area and duration of the protective covenants
contained herein are in all things reasonable; and (iii) that good and valuable consideration
exists under the Agreement, for Employee’s agreement to be bound by the provisions of this
Schedule.

	 	 	 	 
	TopSpin Medical (Israel) Ltd.

	 	Eldad Yehieli
	 
		 	 
	By: 	/s/ Avi Molcho

	 	/s/ Eldad Yehieli
	 	 

	 	 
	 
	 Avi Molcho	 	 
	 
	Title: Director	 	 

 

 

 

Schedule B

GENERAL APPROVAL REGARDING PAYMENTS BY EMPLOYERS TO A PENSION FUND AND INSURANCE FUND IN LIEU OF
SEVERANCE PAY

By virtue of my power under section 14 of the Severance Pay Law, 5723-1963 (hereinafter: the
“Law”), I certify that payments made by an employer commencing from the date of the publication of
this approval publication for his employee to a comprehensive pension benefit fund that is not an
insurance fund within the meaning thereof in the Income Tax (Rules for the Approval and Conduct of
Benefit Funds) Regulations, 5724-1964 (hereinafter: the “Pension Fund”) or to managers insurance
including the possibility of an insurance pension fund as aforesaid (hereinafter: the “Insurance
Fund), including payments made by him by a combination of payments to a Pension Fund and an
Insurance Fund (hereinafter: the “Employer’s Payments), shall be made in lieu of the severance pay
due to the said employee in respect of the salary from which the said payments were made and for
the period they were paid (hereinafter: the “Exempt Salary”), provided that all the following
conditions are fulfilled:

(1) The Employer’s Payments -

	 	(a)	 	to the Pension Fund are not less than 141/3% of the Exempt Salary or 12% of the
Exempt Salary if the employer pays for his employee in addition thereto also payments
to supplement severance pay to a benefit fund for severance pay or to an Insurance Fund
in the employee’s name in an amount of 21/3% of the Exempt Salary. In the event the
employer has not paid an addition to the said 12%, his payments shall be only in lieu
of 72% of the employee’s severance pay;

	 
	 	(b)	 	to the Insurance Fund are not less than one of the following:

	 	(1)	 	131/3% of the Exempt Salary, if the employer pays for his
employee in addition thereto also payments to secure monthly income in the
event of disability, in a plan approved by the Commissioner of the Capital
Market, Insurance and Savings Department of the Ministry of Finance, in an
amount required to secure at least 75% of the Exempt Salary or in an amount of
21/2% of the Exempt Salary, the lower of the two (hereinafter: “Disability
Insurance”);

	 
	 	(2)	 	11% of the Exempt Salary, if the employer paid, in addition, a
payment to the Disability Insurance, and in such case the Employer’s Payments
shall only replace 72% of the Employee’s severance pay; In the event the
employer has paid in addition to the aforegoing payments to supplement
severance pay to a benefit fund for severance pay or to an Insurance Fund in
the employee’s name in an amount of 21/3% of the Exempt Salary, the Employer’s
Payments shall replace 100% of the employee’s severance pay.

(2) No later than three months from the commencement of the Employer’s Payments, a written
agreement is executed between the employer and the employee in which -

	 	(a)	 	the employee has agreed to the arrangement pursuant to this approval in a text
specifying the Employer’s Payments, the Pension Fund and Insurance Fund, as the case
may be; the said agreement shall also include the text of this approval;

	 
	 	(b)	 	the employer waives in advance any right which it may have to a refund of
monies from his payments, unless the employee has withdrawn monies from the Pension
Fund or Insurance Fund other than by reason of an entitling event; in such regard
“Entitling Event” means death, disability or retirement at after the age of 60.

(3) This approval is not such as to derogate from the employee’s right to severance pay pursuant to
any law, collective agreement, extension order or employment agreement, in respect of salary over
and above the Exempt Salary.

June 9, 1998.

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