Amendment to Consulting Agreement
Exhibit
10.24
Amendment
to Consulting Agreement
This
Amendment to Consulting Agreement (this “Agreement”) is entered into as of this
3rd day of October 2008, by and between Xx. Xxxx Xxxxx, M.D., residing at 000
Xxx Xxxx, Xxxxxxxxx XX (“Consultant”), and Oramed Pharmaceuticals Inc., a Nevada
corporation (the “Company”).
WHEREAS,
the
Company and Consultant entered into a Consulting Agreement as of May 1, 2008
(the “Original Agreement”); and
WHEREAS,
Company
and Consultant desire to amend some of terms and conditions of the Original
Agreement.
NOW,
THEREFORE, the
Company and the Consultant agree as follows:
1.
In
Section 1 the following paragraph is hereby added as a second
paragraph:
Exclusive
Service.
The
Consultant shall perform the Services on a full time basis, shall devote his
entire business time and attention to the business of the Company, and shall
not
undertake or accept any other paid or unpaid, direct or indirect position
or engagement, or render any services of a business, professional or
commercial nature to any other person or entity during the period of this
Agreement.
2.
Section
2
is hereby deleted in its entirety and a new Section 2 is as
follows:
Fees.
In
consideration of the Services, (i) for the period between May 1,
2008 and June 30, 2008, the Company shall pay to Consultant a fee of
$8,333 per month and (ii) from July 1, 2008 and thereafter, the Company
shall pay to Consultant a fee of $16,666 per month.
3.
Except
for the changes and/or additions stated herein, all the other terms of the
Original Agreement shall remain valid and bind the parties without any change.
In the case of a contradiction between the provisions of this Amendment and
the
provisions of the Original Agreement, the provisions of this Amendment shall
prevail. Without limiting the generality of the foregoing, the term “Agreement”
as used in the Original Agreement shall be deemed to be the Agreement as amended
by this Amendment.
IN
WITNESS WHEREOF, the parties have executed this Amended and Restated Consulting
Agreement as of the date first above written.
By:
/s/
Xxxxx
Xxxxxx
Name/Title:
Xxxxx Xxxxxx/CEO
Consultant
/s/
Xxxx
Xxxxx
Xxxx
Xxxxx, M.D.
