Exhibit 10.15
[TRANSLATION FROM HEBREW]
EXTENTION OF PERSONAL EMPLOYMENT AGREEMENT
Made and signed in Mazkeret Batia on the 31 day of December, 1996
Between: SCOPE METAL TRADING & TECHNICAL SERVICES LTD., 520037425
Xxxxxxxxxx Xxxx, Xxxxxxxx Xxxxx 00000
(hereinafter: "THE COMPANY") OF THE FIRST PART
And between: URI LADO
I.D. No 5159050
1 Keren Haysod, Mazkeret Batia
(hereinafter: "THE EMPLOYEE") OF THE SECOND PART
WHEREAS: the Parties signed on 1.1.92 an Employment Agreement for a term of five
years; and
WHEREAS: the Parties' wish to extend the Employee's Employment term for
additional five years; and
WHEREAS: the Employee holds the position of director and business manager in the
Company;
IT HAS THEREFORE BEEN AGREED BETWEEN THE PARTIES AS FOLLOWS:-
1. PREAMBLE
The preamble to this Agreement constitutes an integral part thereof.
2. STIPULATED CONDITION
The effectiveness of this Extension Employment Agreement is subject to the
receiving of all the certificates of approval and taking all the necessary
proceedings required by any law, and it shall enter into effect and oblige
the Parties subject to and after the completion of such proceedings.
3. VALIDITY EXTENSION AND COMPLETION
The Personal Employment Agreement which signed with the Employee on 1.1.92
is hereby extended for additional five years, that is: until 31.12.2001.
Afterward the effect of this Agreement shall be renewed automatically
(without further notices) for additional terms of five (5) years each until
the Employee shall reach to retirement age.
Despite the above said, each one of the Parties shall be entitled to
terminate the employment of the Employee and to bring this Agreement to its
end, subject to providing a prior written notice, which will be given at
least three (3) years in advance.
Such Termination Notice shall not require any cause thereto, or any other
justification/reason/explanation.
4. SALARY
From 1.1.97, the Employee' monthly Salary is fixed to the sum of 30,300-
NIS (thirty thousand and three hundred NIS) per month pre- tax, and it
shall be modified on an ongoing basis as per Section 6 b+c of the
Employment Agreement.
5. SUBORDINATION AND MODIFICATIONS
All the conditions of the Employment Agreement dated 1.1.92 shall be apply
to the Extension Term and shall be in effect until the end of this
Employment Agreement Extension, subject to all the necessary modifications
required due the Extension and due to the content of this Employment
Agreement Extension.
IN WITNESS HEREOF THE PARTIES HAVE SET THEIR HANDS:
[SIGNATURE OF THE COMPANY] [SIGNATURE OF THE EMPLOYEE]
The Company The Employee
