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<P align="center" style="font-size: 14pt"><B>UNITED STATES<BR>
SECURITIES AND EXCHANGE COMMISSION<BR>
<FONT style="font-size: 12pt">Washington, D.C. 20549
</FONT></B>

<P align="center" style="font-size: 18pt"><B>FORM 8-K</B>

<P align="center" style="font-size: 12pt"><B>CURRENT REPORT<BR>
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934</B>

<P align="center" style="font-size: 10pt"><B>Date of Report (Date of earliest event reported): December 30, 2008</B>

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<P align="center" style="font-size: 24pt"><B>TOPSPIN MEDICAL, INC.<BR></B>
<FONT style="font-size: 10pt">(Exact name of registrant as specified in its charter)
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    <TD style="border-bottom: 1px solid #000000"><B>Delaware</B></TD>
    <TD>&nbsp;</TD>
    <TD style="border-bottom: 1px solid #000000"><B>333-144472</B></TD>
    <TD>&nbsp;</TD>
    <TD style="border-bottom: 1px solid #000000"><B>510394637</B></TD>
</TR>
<TR valign="top">
    <TD>(State or other Jurisdiction of Incorporation)</TD>
    <TD>&nbsp;</TD>
    <TD>(Commission File Number)</TD>
    <TD>&nbsp;</TD>
    <TD>(IRS Employer Identification No.)</TD>
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    <TD width="49%">&nbsp;</TD>
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    <TD width="49%">&nbsp;</TD>
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    <TD style="border-bottom: 1px solid #000000"><B>Global Park<BR>2 Yodfat Street, Third Floor<BR>North Industrial Area<BR>Lod 71291<BR>Israel<BR></B></TD>
    <TD>&nbsp;</TD>
    <TD style="border-bottom: 1px solid #000000"><B>Not Applicable</B></TD>
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    <TD>(Address of Principal Executive Offices)</TD>
    <TD>&nbsp;</TD>
    <TD>(Zip Code)</TD>
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<P align="center" style="font-size: 10pt">Registrant&#146;s telephone number, including area code: <B>972-8-9200033</B>


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    <TD nowrap style="border-bottom: 1px solid #000000"><B>Not Applicable<BR></B></TD>
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    <TD nowrap>(Former name or former address if changed since last report.)</TD>
</TR>
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<P align="left" style="font-size: 10pt">Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant
under any of the following provisions:

<P align="left" style="font-size: 10pt">
<FONT face="Wingdings">&#111;</FONT> Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)<BR><BR>
<FONT face="Wingdings">&#111;</FONT> Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)<BR><BR>
<FONT face="Wingdings">&#111;</FONT> Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))<BR><BR>
<FONT face="Wingdings">&#111;</FONT> Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))<BR>


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<P align="justify" style="font-size: 10pt"><B>Item&nbsp;5.02. Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers;
Compensatory Arrangements of Certain Officers.</B>


<P align="justify" style="font-size: 10pt; text-indent: 4%">TopSpin Medical, Inc. (the &#147;Company&#148;) previously reported, on a current report on Form 8-K filed on October&nbsp;23,
2008, the resignation of its President and Chief Executive Officer, Yaron Tal. On December&nbsp;30, 2008 the Company and
Mr.&nbsp;Tal entered into a termination agreement (the &#147;Termination Agreement&#148;) which provides for the termination of Mr.
Tal&#146;s employment with the Company effective December&nbsp;30, 2008. Under the Termination Agreement, Mr.&nbsp;Tal is entitled to
receive his full salary until February&nbsp;19, 2009. Mr.&nbsp;Tal also will receive certain benefits accrued during his
employment with the Company, as well as temporary use of the car that the Company furnished to him. By executing the
Termination Agreement, Mr.&nbsp;Tal waived certain benefits that he was entitled to pursuant to his employment agreement
with the Company, dated September&nbsp;25, 2007, with an aggregate estimated value of NIS 186,000 (approximately $47,846).


<P align="justify" style="font-size: 10pt; text-indent: 4%">The Company and Mr.&nbsp;Tal also entered into an amendment, dated December&nbsp;30, 2008, to Mr.&nbsp;Tal&#146;s option agreement
dated September&nbsp;25, 2007 (the &#147;Amendment&#148;) which provides that each of the options granted to Mr.&nbsp;Tal during the course
of his employment with the Company and vested as of December&nbsp;30, 2008 may be exercised at a price per share of $0.001,
equal to the par value of the common stock of the Company. Mr.&nbsp;Tal will be entitled to exercise his vested options at
the exercise price of $0.001 per share until December&nbsp;30, 2010, after which date such options will expire.


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<P align="center" style="font-size: 10pt"><B>SIGNATURES</B>



<P align="justify" style="font-size: 10pt; text-indent: 8%">Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to
be signed on its behalf by the undersigned hereunto duly authorized.

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    <TD nowrap align="left" colspan="3"><B>TOPSPIN MEDICAL, INC.</B></TD>
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    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Date: January&nbsp;6, 2009
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">By:
</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">/s/ Tami Sharbit-Bachar</TD>
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&nbsp;</DIV></TD>
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    <TD nowrap colspan="2" align="left" valign="top" style="border-top: 1px solid #000000">&nbsp;</TD>
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&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Name: Tami Sharbit-Bachar</TD>
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    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">
&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
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    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Title: Director of Finance and Secretary</TD>
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Filed by Bowne Pure Compliance
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): December 30, 2008
TOPSPIN MEDICAL, INC.
(Exact name of registrant as specified in its charter)
Delaware
333-144472
510394637
(State or other Jurisdiction of Incorporation)
(Commission File Number)
(IRS Employer Identification No.)
Global Park
2 Yodfat Street, Third Floor
North Industrial Area
Lod 71291
Israel
Not Applicable
(Address of Principal Executive Offices)
(Zip Code)
Registrant's telephone number, including area code:
972-8-9200033
Not Applicable
(Former name or former address if changed since last report.)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant
under any of the following provisions:
o
Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
o
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
o
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
o
Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Item 5.02. Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers;
Compensatory Arrangements of Certain Officers.
TopSpin Medical, Inc. (the "Company") previously reported, on a current report on Form 8-K filed on October 23,
2008, the resignation of its President and Chief Executive Officer, Yaron Tal. On December 30, 2008 the Company and
Mr. Tal entered into a termination agreement (the "Termination Agreement") which provides for the termination of Mr.
Tal's employment with the Company effective December 30, 2008. Under the Termination Agreement, Mr. Tal is entitled to
receive his full salary until February 19, 2009. Mr. Tal also will receive certain benefits accrued during his
employment with the Company, as well as temporary use of the car that the Company furnished to him. By executing the
Termination Agreement, Mr. Tal waived certain benefits that he was entitled to pursuant to his employment agreement
with the Company, dated September 25, 2007, with an aggregate estimated value of NIS 186,000 (approximately $47,846).
The Company and Mr. Tal also entered into an amendment, dated December 30, 2008, to Mr. Tal's option agreement
dated September 25, 2007 (the "Amendment") which provides that each of the options granted to Mr. Tal during the course
of his employment with the Company and vested as of December 30, 2008 may be exercised at a price per share of $0.001,
equal to the par value of the common stock of the Company. Mr. Tal will be entitled to exercise his vested options at
the exercise price of $0.001 per share until December 30, 2010, after which date such options will expire.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to
be signed on its behalf by the undersigned hereunto duly authorized.
TOPSPIN MEDICAL, INC.
Date: January 6, 2009
By:
/s/ Tami Sharbit-Bachar
Name: Tami Sharbit-Bachar
Title: Director of Finance and Secretary