ENGLISH TRANSLATION AGREEMENT Drafted and executed in Tel Aviv on 1 November 1993 Between of 31 HaBarzel St., Tel Aviv (hereinafter: the “Company”)
Exhibit 10.3
AGREEMENT
Drafted
and executed in Tel Aviv on 1 November 1993
Between
L.I.M.S.
Laboratory Information Management Systems Ltd.
of 00
XxXxxxxx Xx., Xxx Xxxx
(hereinafter:
the “Company”)
On
the one part:
And
Sivanir
(Management Services) 1992 Ltd.
of 00
XxXxxxxx Xx., Xxx Xxxx
(hereinafter:
“Sivanir”)
On
the other part:
Whereas,
Sivanir provides the Company with consulting and management services,
and
Whereas, the
parties desire to render in writing the terms of their engagement for said
provision of services,
Now,
therefore, it is declared, stipulated and agreed between the parties as
follows:
1. Status
of Preamble
The
preamble to this Agreement constitutes an integral part hereof and shall be
read together with the rest of its parts.
2. The
Services
Sivanir
shall provide the Company with consulting and management services including
ongoing business consulting relating to business development, business
management, and decision-making processes; professional consulting services in
the area of finance relating to the development and marketing of the
Company’s products; marketing and advertising consulting (sic) negotiation
services with relevant parties in business; planning services for the
development of new businesses and new products and general management services
in the framework of the tasks that will be assigned by the Company’s board
of directors.
3. The
Consideration
3.1. In
consideration of its services, the Company shall pay Sivanir a monthly payment
equal to US$9,000, plus V.A.T. by law, on the first day of each month for the
previous month.
3.2. Such
amount is linked to the U.S. consumer price index and shall be updated each
year on January 1, (sic) the index of January 1993 shall serve as the base
index.
The US
Dollar, for this purpose – an amount equal in New Israeli Shekels
(“NIS”)
calculated in accordance with the representative rate of exchange of the NIS
vis-à-vis the US Dollar as most recently published by the Bank of Israel
prior to any payment.
4. Term
of the Agreement
Sivanir’s
undertaking to provide management and consulting services shall be until
December 31, 1994 (hereinafter: the “Term
of the Agreement”).
The Term of the Agreement shall renew automatically for addition terms of one
year each, unless one party notifies the other regarding his desire to
terminate the Agreement by advance written notice of 180 days prior to the date
of such renewal.
5. Level
of Services
Sivanir’s
undertaking to provide management and consulting services shall be at the level
at which they are being provided as of the date of the signing of this
Agreement, or at a level that does not substantially deviate from them
(sic).
In
witness whereof the said parties have hereunto set their hands:
/s/
L.I.M.S.
Laboratory Information and Management Systems Ltd.
/s/
Sivanir
Ltd.
