Third Amendment to Employment Agreement
Exhibit 10.13
Third Amendment to Employment Agreement
This Third Amendment to the Employment Agreement (this “Third Amendment”) is entered into as of this 21 day of July 2015, by and between Xxxxx Xxxxxx, an individual residing at Rehovot, Israel (the “Executive”), and ORAMED Ltd., a company incorporated under the laws of the State of Israel, with an address at Hi-Tech Park 0/0 Xxxxx Xxx, Xxxxxxxxx, Xxxxxx 00000 (the “Company”).
WHEREAS, the Company and the Executive entered into an Employment Agreement, dated as of April 19, 2009 (the “Original Agreement”), which was amended on August 31, 2009 (the "First Amendment") and on July 17, 2013 (the "Second Amendment" and together with the Original Agreement and the First Agreement - the “Employment Agreement”); and
WHEREAS, Company and the Executive desire to amend some of terms and conditions of the Employment Agreement.
NOW, THEREFORE, the Company and the Executive agree as follows:
1. In Section 2.1(a) - Salary of the Original Agreement, the following paragraph is hereby added:
As of July 1st, 2015, the Executive shall be entitled to a gross monthly salary of NIS 33,347 (the “Salary”).
2. Except for the changes and/or additions stated herein, all the other terms of the Employment Agreement shall remain valid and bind the parties without any change. In the case of a contradiction between the provisions of this Third Amendment and the provisions of the Employment Agreement, the provisions of this Third Amendment shall prevail. Without limiting the generality of the foregoing, the term “Agreement” as used in the Employment Agreement shall be deemed to be the Employment Agreement as amended by this Amendment.
IN WITNESS WHEREOF, the parties have executed this Third Amendment to Employment Agreement as of July 21st,
2015.
| Oramed Ltd. | |
| /s/ Xxxxx Xxxxxx | |
| Xxxxx Xxxxxx, CEO | |
| /s/ Xxxxx Xxxxxx | |
| Xxxxx Xxxxxx |
