EXHIBIT 10.7
AMENDMENT TO EMPLOYMENT AGREEMENT
THIS AMENDMENT is entered into as of this 7 day of December, 2005, by and
between Oriens Life Sciences (Israel) Ltd., a private company duly registered in
Israel (the "Company"), and Xx. Xxxx Xxxxxxxxx (the "Executive").
WHEREAS the Executive currently serves in the role of Chief Executive Officer of
the Company, pursuant to an Employment Agreement dated May 31, 2005 (the
"Agreement"; all capitalized terms used and not otherwise defined herein shall
have the meaning ascribed to them in the Agreement); and
WHEREAS the Company and the Executive both wish to continue the Executive's
employment with the Company, in the position of Chief Medical Officer ("CMO") of
the Company, under the terms and conditions set forth herein.
NOW THEREFORE, in consideration of the premises and the mutual covenants and
agreements herein contained, the parties hereto covenant and agree as follows:
1. From and after December 1, 2005 (the "Effective Date"), the
Executive shall serve as the CMO of the Company and of the Parent
Company, and perform all duties of a CMO for the Company and the
Parent Company.
2. The Executive's gross monthly Salary for performing the duties of
CMO for the Company and the Parent Company shall be US$ 8,000. To
prevent any doubt, the Executive shall not be entitled to any
additional compensation for duties performed on behalf of the Parent
Company.
3. Any provision of the Agreement not specifically amended herein shall
remain unaffected in effect and in force, mutatis mutandis.
IN WITNESS WHEREOF the parties hereto have executed this Amendment, effective as
of the date first written above.
ORIENS LIFE SCIENCES (ISRAEL) LTD. EXECUTIVE
Per: /s/ Xxxxx Xxxxxxx /s/ Xxxx Xxxxxxxxx
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Name: Xxxxx Xxxxxxx Xxxx Xxxxxxxxx
Title: Chief Executive Officer
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