TRANSITION AGREEMENT AND RELEASETransition Agreement and Release • June 23rd, 2016 • Modsys International LTD • Services-computer programming services • Washington
Contract Type FiledJune 23rd, 2016 Company Industry JurisdictionThis Transition Agreement and Release (this “Agreement”) is made as of June 20, 2016 (the "Effective Date”) by and between Matthew Bell, an individual (“Employee”) and Modern Systems Corporation, a Delaware corporation (formerly known as BluePhoenix Solutions USA, Inc.) (the “Company” and together with Employee collectively referred to as the “Parties” or individually referred to as a “Party”), a wholly-owned subsidiary of ModSys International Ltd. (“Parent”).