Exhibit 10.9
Attached hereto is an English translation of the original
Hebrew version of the Joint Venture Agreement between Organitech and Weitzman
Institute, dated September 23, 2001. The Company has employed a translator to
translate the above-referenced agreement and based on this, the undersigned
believes that the attached is a fair and accurate English translation of the
above-referenced agreement.
OrganiTECH, USA, Inc.
By:/s/ Xxxx Xxxxxx
-----------------------------------------
Xxxx Xxxxxx, Chief Executive Officer
Date: April 12, 2002
Ministry of Business and Commerce
Office of Industrial Research and Development
Jerusalem, 23.9.01
Authorization No: 27319
(Budget regulation: 38020205)
group: 13
To
Organitech Ltd.
Hanarkisim 30 POB 212, Nesher 36601
Letter of Authorization (Magnaton)
1. This is to notify you that MGNT committee, in accordance with its
authority and instructions of the general manager for encouraging the
transfer of technology from academics to industry - pilot (4.3),
discussed your request of 11.03.01 for the approval of an annual
research and development project, and decided on 31.05.01 to approve
the project as an authorized project.
1st. Project subject: Xxxxxxxx - Xxxxxxxx 0000 system for the miniature
tomato plant
2nd. Performer of the authorized project: Organitech Ltd.
registration no.: 512800566
Head subcontractor (Academia): Weizman Institute
3rd. The research and development expenses that were approved for the
development of the project, will be in an amount not to exceed
NIS 521,640, in words: five hundred and twenty-one thousand and
six hundred and forty shequels.
4th. The amount of approved grant represents 66% of research and
development expenses, which is up to NIS 344,282 (hereafter "the
grant").
2. Approval is conditioned on the following of instructions, rules, and
procedures, that were decided by general manager instructions no. 4.3
3. and the Office of Industrial Research and Development, subject to the
following conditions:
1st. the approved project will be performed as specified in your
request within a 12 mother period - from day 01.05.01 to day
30.04.02 (hereafter "performance period").
2nd. (1) It is your responsibility to notify the Head Scientist
regarding any change of 25% or more in company shares and/or on
any of the following means of control: (a) right to vote in
company meetings; (b) right to appoint company management;
(c) right to participate in company profits. (2) the transfer of
means in any degree from the means of control that are stated in
paragraph 2 in (1), to a foreign resident or foreign company, will
require the written approval of MGNT ahead of time.
C. Additional conditions none
Signed
Xxxxxx Xxxxxx Xxxxx Xxxx
Head Scientist Comptroller
Attached 1. Budget specification - appendix for written approval
2. General Manager instructions no. 4.3 and declaration (App. A)
3. Regulations and reporting rules.
