Document:

TERMINATION
AND

RELEASE
AGREEMENT

 

This
Termination and Release Agreement (the “Agreement”)
is made and entered into as of July 12, 2017, by and among ICTV Brands Inc., a Nevada corporation (“Parent”),
ICTV Holdings, Inc., a Nevada corporation (“Purchaser”), PhotoMedex, Inc., a Nevada corporation
(“PHMD”), Radiancy, Inc., a Delaware corporation (“Radiancy”), PhotoTherapeutics
Ltd., a private limited company limited by shares, incorporated under the laws of England and Wales (“PHMD UK”),
and Radiancy (Israel) Limited, a private corporation incorporated under the laws of the State of Israel (“Radiancy
Israel” and, together with PHMD, Radiancy, and PHMD UK, the “Sellers” and each, a “Seller”).
Parent, Purchaser and the Sellers are each sometimes referred to herein as a “Party” and, collectively, as
the “Parties.”

 

Recitals

 

A.
The Parties have entered into that certain Asset Purchase Agreement, dated October 4, 2016, which was then amended on January
23, 2017 (as so amended, the “Purchase Agreement”). Capitalized terms used herein without definition shall
have the meanings given to them in the Purchase Agreement.

 

B.
On January 23, 2017, the parties consummated the transactions contemplated by the Purchase Agreement at the Closing, including
the transfer of the Transferred Assets to the Purchaser.

 

C.
Certain disputes have arisen between the Parties since the Closing regarding the treatment of various matters under the Purchase
Agreements. The Parties desire to finally resolve all disputes among them in the manner set forth in this Agreement, terminate
the Purchase Agreement, and release each other from all obligations under the Purchase Agreement other than those obligations
described below as specifically surviving the termination of the Purchase Agreement.

 

Agreement

 

Now,
Therefore, in consideration of the foregoing
recitals and the mutual promises, representations, warranties, and covenants hereinafter set forth and for other good and valuable
consideration, the receipt and sufficiency of which are hereby acknowledged, the Parties hereto agree as follows:

 

1.
Parent Payment. Within three (3) Business Days from the date hereof,
Parent shall pay to PHMD Two Million Dollars ($2,000,000) in cash and in immediately available funds.

 

2.
Sigmatron Assignment. Pursuant to PHMD’s existing arrangement
with Sigmatron International, Inc. (“Sigmatron”), PHMD deposited a total of Two Hundred Ten Thousand Dollars
($210,000) (the “Deposit”) with Sigmatron. PHMD has demanded that Sigmatron return the Deposit, but Sigmatron
has failed to do so. PHMD hereby assigns to Parent all of PHMD’s right, title and interests in and to the Deposit. To further
assign the Deposit to Parent, PHMD shall, on the date hereof, execute and deliver to Parent a bill of sale and assignment in the
form of Exhibit A to this Agreement. The Sellers jointly and severally represent and warrant to Parent and Purchaser that
PHMD has good and marketable title to the Deposit free and clear of all Liens, except for Permitted Liens.

 

    	 

    	 		 

    

 

3.
Termination of Agreement. Effective as of the date hereof, except
for the Surviving Covenants described in Section 4 of this Agreement, the Purchase Agreement is terminated and of no further force
and effect and none of the Parties will have any further rights or obligations under or pursuant to the Agreement; provided, however,
that rights and obligations of the parties under the Purchase Agreement incurred at the Closing shall survive the termination
of the Purchase Agreement, including, but in no way limited to, the transfer of the Transferred Assets to the Purchaser that occurred
at the Closing and the entry into the Transaction Documents, including specifically and without limitation, the Transfer Documents,
which remain in full force and effect. For the avoidance of doubt, subject to Parent making the payment described in Section 1
of this Agreement, neither Parent nor Purchaser shall have any further royalty or other payment obligations (or obligations to
deliver any other consideration for the Transferred Assets) under the Purchase Agreement.

 

4.
Covenants of the Parties. The following covenants contained in the
Purchase Agreement (the “Surviving Covenants”) shall survive the termination of the Purchase Agreement and
remain in full force and effect in accordance with their terms: Section 5.2 (Transaction Expenses; Transfer Taxes); Section 5.3
(Further Assurances); Section 5.6 (Non-Compete and Non-Solicitation); Section 5.7 (PhotoMedex and Radiancy Names); Section 5.8
(Notices and Consents); Section 5.14 (Payment of Excluded Liabilities) (provided that Parent specifically waives and releases
its right to make any claim against the Sellers for products that were returned after the Closing relating to sales occurring
prior to the Closing and such claim is released under Section 5 hereof); Article VIII (Tax Matters); Section 10.1 (Confidentiality);
Section 10.5 (Mediation; Arbitration and Governing Law); and Section 10.7 (Notices).

 

5.
Mutual Release; Disclaimer of Liability. Each of the Parent and the
Purchaser on the one hand and each of the Sellers on the other hand, each on behalf of itself and each of its respective successors
and past and present subsidiaries, Affiliates, assignees, officers, directors, employees, controlling persons, Representatives,
agents, attorneys, auditors, stockholders, equity holders and advisors, and any family member, spouse, heir, trust, trustee, executor,
estate, administrator, beneficiary, foundation, fiduciary, predecessors, successors and assigns of each of them (the “Releasors”),
does, to the fullest extent permitted by law, hereby fully release, forever discharge and covenant not to sue any other Party,
any of their respective successors and past and present subsidiaries, Affiliates, assignees, officers, directors, employees, controlling
persons, Representatives, agents, attorneys, auditors, stockholders, equity holders and advisors, and any family member, spouse,
heir, trust, trustee, executor, estate, administrator, beneficiary, foundation, fiduciary, predecessors, successors and assigns
of each of them (collectively the “Releasees”), from and with respect to any and all past, present, direct,
indirect, individual, class, representative and derivative liability, claims, rights, actions, causes of action, suits, liens,
obligations, accounts, debts, losses, demands, judgments, remedies, agreements, promises, liabilities, covenants, controversies,
costs, charges, damages, expenses and fees (including attorney’s, financial advisor’s or other fees) (“Claims”),
howsoever arising, of every kind and nature, whether based on any law or right of action (including any claims under federal securities
laws or state disclosure law or any claims that could be asserted derivatively on behalf of the Parties), known or unknown, asserted
or that could have been asserted, matured or unmatured, contingent or fixed, liquidated or unliquidated, accrued or unaccrued,
foreseen or unforeseen, apparent or not apparent, which Releasors, or any of them, ever had or now have or can have or shall or
may hereafter have against the Releasees, or any of them, in connection with, arising out of, based upon or related to, directly
or indirectly, the Purchase Agreement (other than the Surviving Covenants) or the transactions contemplated therein or thereby,
including any breach, non-performance, action or failure to act under the Purchase Agreement, the events leading to the termination
of the Purchase Agreement, any deliberations or negotiations in connection with the Purchase Agreement, the consideration to be
received under the Purchase Agreement, including any royalties thereunder, and any SEC filings, public filings, periodic reports,
press releases, proxy statements or other statements issued, made available or filed relating, directly or indirectly, to the
Purchase Agreement or the transactions consummated at the Closing. The release contemplated by this Section 5 is intended
to be as broad as permitted by law and is intended to, and does, extinguish all Claims of any kind whatsoever, whether in law
or equity or otherwise, that are based on or relate to facts, conditions, actions or omissions (known or unknown) that have existed
or occurred at any time to and including as of the date hereof. Each of the Releasors hereby expressly waives to the fullest extent
permitted by law any rights it may have under any statute or common law principle under which a general release does not extend
to claims which such Party does not know or suspect to exist in its favor at the time of executing the release. Nothing in this
Section 5 shall (i) apply to any action by any Party to enforce the rights and obligations imposed pursuant to this Agreement,
including under the Surviving Covenants, the Transaction Documents, including the Transfer Documents, or the Parent and/or the
Purchaser’s rights in and to the Transferred Assets as conveyed to the Parent and/or the Purchaser at the Closing pursuant
to the Purchase Agreement, or (ii) constitute a release by any Party for any Claim arising under this Agreement, the Transaction
Documents, including the Transfer Documents, or the Parent and/or the Purchaser’s rights in and to the Transferred Assets
as conveyed to the Parent and/or the Purchaser at the Closing pursuant to the Purchase Agreement.

 

    	 

    	 		 

    

 

6.
Representations and Warranties. Each of the Parties represents and
warrants that it has the requisite power to enter into this Agreement and to carry out its obligations hereunder and that the
terms of this Agreement have been fully disclosed to its board of directors and that the requisite approvals have been obtained,
prior to its execution. Each of the Parties represents and warrants to the other Parties that this Agreement has been duly executed
and delivered and constitutes a valid and binding obligation enforceable in accordance with its terms, except as such enforceability
may be limited by applicable bankruptcy, insolvency, reorganization, moratorium, liquidation or similar laws relating to, or affecting
generally the enforcement of, creditors’ rights and remedies or by other equitable principles of general application.

 

7.
Integration Clause. This Agreement contains the entire agreement of
the Parties and supersedes any and all prior, written or oral, agreements among them concerning the subject matter of this Agreement.
There are no representations, agreements, arrangements or understandings, oral or written, among the Parties, relating to the
subject matter of this Agreement that is not fully expressed herein.

 

8.
Severability. If any one or more of the provisions of this Agreement
should be ruled wholly or partly invalid or unenforceable by a court or other government body of competent jurisdiction, then;
(i) the validity and enforceability of all provisions of this Agreement not ruled to be invalid or unenforceable shall be unaffected
if the Parties mutually elect in writing to proceed as if such invalid or unenforceable term(s) had never been included in the
Agreement; (ii) the effect of the ruling shall be limited to the jurisdiction of the court or other government body making the
ruling; (iii) the provision(s) held wholly or partly invalid or unenforceable shall be deemed amended, and the court or other
government body is authorized to reform the provision(s), to the minimum extent necessary to render them valid and enforceable
in conformity with the Parties’ intent as manifested herein; and (iv) if the ruling and/or the controlling principle of
law or equity leading to the ruling is subsequently overruled, modified, or amended by legislature, judicial, or administrative
action, then the provision(s) in question as originally set forth in this Agreement shall be deemed valid and enforceable to the
maximum extent permitted by the new controlling principle of law or equity.

 

9.
No Waiver. The failure of any party to insist upon compliance with
any of the provisions of this Agreement or the waiver thereof, in any instance, shall not be construed as a general waiver or
relinquishment by such party of any other provision of this Agreement.

 

    	 

    	 		 

    

 

10.
Mediation; Arbitration and Governing Law. In the event of a dispute
between any of the Parties arising under or relating in any way whatsoever to this Agreement, the disputing Parties shall attempt
to resolve it through good faith negotiation. If the dispute is not resolved through such negotiation, then the disputing Parties
shall attempt to resolve it through mediation in the State of Pennsylvania, USA, with a neutral, third-party mediator mutually
agreed upon by the disputing Parties. Unless otherwise agreed by the disputing Parties, the costs of mediation shall be shared
equally. If the dispute is not resolved through mediation, then upon written demand by one of the disputing Parties it shall be
referred to a mutually agreeable arbitrator. The arbitration process shall be conducted in accordance with the laws of the Commonwealth
of Pennsylvania, except as modified herein. Venue for the arbitration hearing shall be the State of Pennsylvania, USA. All remedies,
legal and equitable, available in court shall also be available in arbitration. The arbitrator’s decision shall be final
and binding, and judgment may be entered thereon in a court of competent jurisdiction. This Agreement shall be interpreted and
enforced in accordance with the laws of the Commonwealth of Pennsylvania, without regard to conflict of law principles thereof.
In any dispute arising out of or relating in way whatsoever to this Agreement, including arbitration, the substantially prevailing
Party shall be entitled to recover its costs and attorney fees from the other disputing Parties.

 

11.
Amendment. This Agreement may not be amended except by an instrument
in writing, executed by the Parties, and each of them.

 

12.
No Reliance. Each of the Parties represents and warrants that, except
for the representations and warranties specifically set forth in this Agreement, in executing this Agreement, it does not rely,
and has not relied, on any representation or statement made by any other party to this Agreement, on any representation or statement
made anyone acting on behalf of any party to this Agreement, or any representation or statement made by any other person.

 

13.
Counterparts. This Agreement may be executed in multiple counterpart
copies, each of which shall be considered an original and all of which constitute one and the same instrument binding on all the
parties, notwithstanding that all parties are not signatories to the same counterpart.

 

14.
Successors. Except as otherwise provided herein, this Agreement shall
be binding upon and inure to the benefit of the parties and their respective successors and assigns.

 

[Signature
page follows]

 

    	 

    	 		 

    

 

In
Witness Whereof,
the parties hereto have executed this Agreement
as of the date first written above.

 

	 	PARENT:
	 	 
	 	ICTV
    BRANDS INC.
	 	 	 
	 	By:	/s/
    Richard Ransom
	 	Name: 
    	Richard
    Ransom                          
	 	Title:	President
	 	 	 
	 	PURCHASER:
	 	 
	 	ICTV
    Holdings, INC.
	 	 	 
	 	By:	/s/
    Richard Ransom
	 	Name:	Richard
    Ransom
	 	Title:
    	President
	 	 	 
	 	SELLERS:
	 	 	 
	 	PhotoMedex,
    Inc.
	 	 	 
	 	By:	/s/
    Suneet Singal
	 	Name:	Suneet
    Singal
	 	Title:
    	Chief
    Executive Officer
	 	 	 
	 	RADIANCY,
    Inc.
	 	 	 
	 	By:	/s/ Suneet
    Singal
	 	Name:	Suneet
    Singal
	 	Title:
    	President
	 	 	 
	 	PHOTOTHERAPEUTICS
    LTD.
	 	 	 
	 	By:	/s/
    Suneet Singal
	 	Name:	Suneet
    Singal
	 	Title:	Director
	 	 	 
	 	RADIANCY
    (ISRAEL) LIMITED
	 	 	 
	 	By:	/s/
    Suneet Singal
	 	Name:	Suneet
    Singal
	 	Title:	DirectorBILL
OF SALE AND ASSIGNMENT 

 

THIS
BILL OF SALE AND ASSIGNMENT (this “Bill of Sale”) is made and entered into as of July 12, 2017, by and among
PhotoMedex, Inc., a Nevada corporation, Radiancy,
Inc., a Delaware corporation, PhotoTherapeutics Ltd., a private
limited company limited by shares incorporated under the laws of England and Wales, Radiancy
(Israel) Limited, a private corporation incorporated under the laws of the State of Israel (each, a “PHMD
Party”), and ICTV Holdings, Inc., a Nevada corporation (“ICTV”).
Capitalized terms used, but not otherwise defined, herein have the meanings ascribed to them in the Release Agreement (as defined
below).

 

RECITALS

 

A.
The PHMD Parties and ICTV have entered into Termination and Release Agreement, dated on or about the date hereof (the “Release
Agreement”), whereby the Parties agreed to terminate that certain Asset Purchase Agreement among the Parties, dated
January 23, 2017 (the “Purchase Agreement”) and release each other from certain liabilities arising under the
Purchase Agreement among others.

 

B.
As partial consideration for the releases provided by ICTV to the PHMD Parties as contained in the Release Agreement, the PHMD
Parties are required to sell, assign, transfer, convey and deliver to ICTV a deposit in the amount of Two Hundred Ten Thousand
Dollars ($210,000) held by Sigmatron International, Inc. (“Sigmatron”) pursuant to an arrangement between one
or more of the PHMD Parties and Sigmatron.

 

C.
The execution and delivery of this Bill of Sale is a condition concurrent to the transactions contemplated by the Release Agreement,
which transactions are occurring on the date hereof.

 

AGREEMENT

 

NOW,
THEREFORE, pursuant to and in accordance with the terms and provisions of the Purchase Agreement, and for good and valuable consideration,
the receipt and sufficiency of which are hereby acknowledged, the parties agree as follows:

 

1.
Transfer of Deposit. Each PHMD Party does hereby sell, assign, transfer and deliver to ICTV, and ICTV does hereby purchase
and accept from such PHMD Party, all of the right, title and interest, legal or equitable, of each such PHMD Party in and to the
Deposit.

 

2.
Further Assurances. Each PHMD Party hereby covenants and agrees to execute and deliver, or cause to be executed and delivered,
all such further acts, assignments, transfers, assurances, conveyances, notices, assumptions, releases and acquittances and such
other instruments, and shall take such further actions, as may be reasonably necessary or appropriate to assure fully the transfer
and conveyance of all of the Deposit intended to be transferred and conveyed to ICTV hereunder.

 

    	 

    	 		 

    

 

3.
Power of Attorney. Each PHMD Party hereby constitutes and appoints ICTV, its successors and assigns, as such PHMD Party’s
true and lawful attorney, with full power of substitution, in such PHMD Party’s name and stead, but on behalf and for the
benefit of ICTV, its successors and assigns, to demand and receive any and all of the Deposit, and to execute and deliver receipts,
releases and such other instruments or documents as ICTV may reasonably deem necessary or appropriate in connection with the demand
and receipt of the same, and any part thereof, and from time to time to institute and prosecute in such PHMD Party’s name,
or otherwise, for the benefit of ICTV, its successors and assigns, any and all proceedings at law, in equity or otherwise, which
ICTV, its successors or assigns, may deem proper for the collection or reduction to possession of any of the Deposit or for the
collection and enforcement of any claim or right of any kind hereby sold, conveyed, transferred and assigned, or intended so to
be, and to do all acts and things in relating to the Deposit which ICTV, its successors or assigns shall deem desirable. Each
PHMD Party hereby declares that the foregoing powers are coupled with an interest and are and shall be irrevocable by such PHMD
Party or by its dissolution or in any manner or for any reason whatsoever.

 

4.
Exclusivity. Nothing contained herein, express or implied, shall be construed, nor is intended, to confer upon any person,
firm or entity other than ICTV, its successors and assigns, any remedy or claim under or by reason of this Bill of Sale or any
term, covenant and condition thereof, and such terms, covenants and conditions shall be for the exclusive benefit of ICTV, its
successors and assigns.

 

5.
Amendments. No provision of this Bill of Sale may be amended, modified or waived except by written agreement duly executed
by each of the Parties hereto.

 

6.
Successors and Assigns. This Bill of Sale shall be binding upon and shall inure to the benefit of the parties and their
respective personal representatives, heirs, successors and assigns.

 

7.
Governing Law. This Bill of Sale shall be governed by and construed and enforced in accordance with the laws of the Commonwealth
of Pennsylvania applicable to contracts made in that state, without giving effect to the conflict of laws principles thereof.

 

8.
Counterparts; Delivery by Electronic Transmission. This Bill of Sale may be executed simultaneously in counterparts (including
by means of facsimile or portable document format (pdf) signature pages), any one of which need not contain the signatures of
more than one party hereto, but all such counterparts taken together shall constitute one and the same instrument. This Bill of
Sale, to the extent signed and delivered by means of a facsimile machine or electronic transmission in portable document format
(pdf), shall be treated in all manner and respects as an original thereof and shall be considered to have the same binding legal
effects as if it were the original signed version thereof delivered in person. At the request of any party hereto, the other party
shall re-execute original forms hereof and deliver them to the other parties. No party hereto shall raise the use of a facsimile
machine or electronic transmission in portable document format (pdf) to deliver a signature or the fact that any signature or
document was transmitted or communicated through the use of a facsimile machine or electronic transmission in portable document
format (pdf) as a defense to the formation of a contract, and each such party forever waives any such defense.

 

    	2

    	 		 

    

 

IN
WITNESS WHEREOF, this Bill of Sale and Assignment has been executed and delivered on the date first above written.

 

	 	PHMD
    PARTYS:
	 	 
	 	PhotoMedex,
    Inc.
	 	 	 
	 	By:	/s/
    Suneet Singal 
	 	Name: 	Suneet
    Singal 
	 	Title:
    	CEO
	 	 	 
	 	Radiancy,
    Inc.
	 	 	 
	 	By:	/s/
    Suneet Singal 
	 	Name:	Suneet
    Singal
	 	Title:
    	CEO
	 	 	 
	 	PhotoTherapeutics
    Ltd.
	 	 	 
	 	By:	/s/
    Suneet Singal 
		Name:	Suneet
    Singal                        
	 	Title:
    	Director
	 	 	 
	 	Radiancy
    (Israel) Limited
	 	 	 
	 	By:	/s/
    Suneet Singal 
	 	Name:
    	Suneet
    Singal
	 	Title:
    	Director
	 	 	 
	 	ICTV:
	 	 
	 	ICTV
    Holdings, Inc.
	 	 	 
	 	By:	/s/
    Richard Ransom
	 	Name:
    	Richard
    Ransom
	 	Title:
    	President

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