SEC Contract Filing

Filing Date: 2022-07-05

Document Content:
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<TYPE>EX-10.7
<SEQUENCE>8
<FILENAME>exhibit_10-7.htm
<DESCRIPTION>EXHIBIT 10.7
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 <div style="text-align: right; line-height: 1.25; font-family: 'Times New Roman', Times, serif; font-size: 10pt;"><u>Exhibit 10.7</u></div>
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 <div style="text-align: center; line-height: 1.25; font-family: 'Times New Roman', Times, serif; font-size: 10pt; font-weight: bold;">DEBT FORGIVENESS AGREEMENT</div>
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 <div style="text-align: justify; text-indent: 36pt; line-height: 1.25; font-family: 'Times New Roman', Times, serif; font-size: 10pt;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-weight: bold;">THIS DEBT
 FORGIVENESS AGREEMENT</font> (this &#8220;<font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-weight: bold;">Agreement</font>&#8221;) is made and entered into and effective as of this __th day of _____, 2022 by and between <font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-weight: bold;">Artemis Therapeutics, Inc.</font>, a Delaware corporation (&#8220;<font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-weight: bold;">Artemis</font>&#8221;),
 and<font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-weight: bold;"> _____________</font> (the &#8220;<font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-weight: bold;">Lender</font>&#8221;).</div>
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 <div style="text-align: justify; text-indent: 36pt; line-height: 1.25; font-family: 'Times New Roman', Times, serif; font-size: 10pt;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-weight: bold;">WHEREAS</font>, on
 the terms and subject to the conditions set forth in this Agreement, and as a condition to that certain Share Exchange Agreement by and between Artemis and MANUKA Ltd., a limited liability company organized under the laws of the State of Israel,
 dated on or about a date even herewith (the &#8220;<font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-weight: bold;">Share Exchange Agreement</font>&#8221;), the Lender agrees to waive, cancel and forgive certain indebtedness
 previously advanced by Lender to Artemis;</div>
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 <div style="text-align: justify; text-indent: 36pt; line-height: 1.25; font-family: 'Times New Roman', Times, serif; font-size: 10pt;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-weight: bold;">NOW, THEREFORE</font>,
 in consideration of the foregoing premises, and the agreements set forth herein, and for other good and valuable consideration, the receipt and sufficiency of which the parties hereby acknowledge, the parties hereto hereby agree as follows:</div>
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 <div style="font-family: 'Times New Roman', Times, serif; font-size: 10pt;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;"><u>Forgiven Debt</u></font>. The Lender hereby waives, cancels and forgives payment by
 Artemis of aggregate of $__ of indebtedness previously advanced by the Lender to Artemis and currently owed (the &#8220;<font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-weight: bold;">Forgiven Debt</font>&#8221;) in
 consideration of, and conditioned upon the Lender&#8217;s receipt of an aggregate of ______ shares of Artemis&#8217; common stock (the &#8220;<font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-weight: bold;">Debt Forgiveness
 Shares</font>&#8221;). It is acknowledged and agreed that the Forgiven Debt is being waived, cancelled and forgiven by the Lender in its entirety in consideration of the issuance of the Debt Forgiveness Shares.</div>
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 <td style="width: 18pt; vertical-align: top; align: right; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">2.</td>
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 <div style="font-family: 'Times New Roman', Times, serif; font-size: 10pt;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;"><u>Issuance of the Debt Forgiveness Shares</u></font>. Artemis hereby agrees to issue to
 the Lender the Debt Forgiveness Shares in consideration of t