Item 1.02. Termination of a Material Definitive Agreement.
IR-Med, Inc. (the “Company”) and PI Prevention Care LLC (the “Distributor”) previously executed the Distribution and License Agreement (the “Agreement”), dated October 7, 2022. Effective as of October 15, 2024, as a result of the Company’s notice to the Distributor of the Distributor’s material breach of the Agreement following its failure to timely pay the license fee as required, the Agreement was terminated.
IR-Med, Inc. (the “Company”) and PI Prevention Care LLC (the “Distributor”) previously executed the Distribution and License Agreement (the “Agreement”), dated October 7, 2022. Effective as of October 15, 2024, as a result of the Company’s notice to the Distributor of the Distributor’s material breach of the Agreement following its failure to timely pay the license fee as required, the Agreement was terminated.
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