20-F










Exhibit 4.11  



Summary of Economic
Terms  



 Lender: Bank Leumi Le Israel 





		Credit line
	Long term*

	 		
			
			
			
	Principal	10,455,000	6,879,000
	Loan currency	NIS	NIS
	Period	revolving	3 years
	Interest payment	monthly	quarterly
	Principal payment	revolving	quarterly
	Interest rate	P+1.75%	P+2%
	Charges due to early repayment	0.05%	0.05%
	One time commission	$   64,000	$    2,500





 * As of June 30, 2008 no amounts were drawn under this loan.













Form of Request to
Allocate a Credit in Israeli Currency (unlinked)  



	To:  	Bank
Leumi le-Israel B.M.  






	 		
	 		
	 		
	 		
	 		
	 	_________________ Branch	Date: _________________






Re: Request to allocate
Credit in Israeli Currency (Unlinked)  



	1.  	Advance
and amount of the Credit  






        Please
allocate to us a credit, /we confirm receipt of a credit* in the sum of NIS ______
(hereinafter: “the Credit”) in our account number ___________ maintained with
yourselves (hereinafter: “the Credit Account”) and, if no such account as above
presently exists with yourselves, please open for us an account in our name and allocate
the Credit therein. The General Conditions for Opening an Account for Receiving Credits
signed by us in your favor (hereinafter: “the Terms of Operation”), in addition
to the additional conditions hereinafter contained, will apply to the Credit Account and
to the Credit. Please credit our Account with yourselves, Account No. __________ (the
“the Master Account”) with the amount of the Credit. 



	2.  	Term
of the Credit  






	 	
The
Credit will be for a term of ___________ (the “Term of the Credit”). The date
of advancing the Credit will be ____________ (the “Date of Allocation of Credit”).  






	3.  	Interest 







	 	(a) 	The
unpaid balance of the Credit will bear interest based upon the Bank’s
               preference, on the daily balance or will bear interest on a different
period, as                will be customary in the Bank, commencing from the date the
Credit is advanced                until the full and actual payment thereof to the Bank.
The interest will be                calculated according to the number of days which have
actually elapsed divided                by 365 or 366, depending on the number of years
in that relevant period. 






	 	(b) 	Fixed
interest 






	 	
If
this request, is a request to allocate credit with a fixed interest, then the rate of
interest on the unpaid balance of the Credit will be _____% a (the “Interest Rate)” and
the adjusted interest will be _________% (the “Adjusted Interest”).
Notwithstanding the mentioned in section 3(a), if it is agreed that the repayment shall
be made in the Spitzer method, the interest shall be calculated, from the date the credit
is advanced until the full and actual payment thereof to the Bank based upon 360 days in
a year and 30 days in a month.  






	 	(c) 	Variable
interest 






	 	1. 	If
this request, is a request to allocate credit with a variable interest, then
          the rate of interest mentioned in paragraph (a) above will be an interest rate
          in an amount that is higher/lower than ______ % (the “Interest
          Spread”) which is higher/lower than ______% above the prime rate of
          interest as defined below.  






	 	
For
the purposes hereof “the prime rate of interest” means interest at the basic
rate customary in the Bank from time to time in overdraft accounts in Israeli currency. 














	 	2. 	We
have taken note that a change in the prime rate of interest in the Bank will
          lead to a change in the interest on the Credit, by a percentage identical to
          such change in the basic interest, or at the Bank’s option, by the same
          ratio whereby the basic rate of interest has been changed against the basic
rate           as it existed prior to such change. In the event of repayment (credit with
          variable interest) using the Spitzer method, then the interest shall be
          calculated as detailed in Section 3(a) and if any change occurs in the prime
          rate of interest on a day not being an interest payment day, the new interest
          rate will apply as from the immediately succeeding interest payment date
          following the date of the change, or on the date of the change of interest, at
          the option of the Bank.  






	 	3. 	We
are aware that the interest of _________% (the “Initial Interest           Rate”)
shall be the interest that shall commence on the date of grant of           the Credit
until the change of the prime rate of the interest, as           aforementioned.  






	 	4. 	For
the avoidance of doubt, it is hereby stated that the Bank will be entitled,
          from time to time, to change the interest rate as aforesaid even with respect
to           amounts of the Credit which have already been allocated to us in the Credit
          Account.  






	4.  	Repayment
of Principal and Interest  






	 	(a) 	We
hereby undertake to repay the Bank the principal of the Credit together with
          the interest thereon in______ consecutive equal monthly installments in the sum
          of approximately _________________ each, on each ______ of every calendar
month,           commencing on _______________ and terminating on ____________(the
          “Repayment of Principal”). 






	 	(b) 	We
hereby commit to repay the interest of the unpaid balance of Credit in
          _________ consecutive installments in the sum of approximately
_________________           each, on each ______ of every calendar month, commencing on
_______________ and           terminating on ___________(the “Repayment of Interest”. 






	 	
In
case that the Interest shall be repaid in one installment, the Interest shall be added to
the principal and shall compound interest from commencing on _______________ and
terminating on _______ (the “Accumulation Period”), from the date of allocation
of the Credit. 






	 	(c) 	If
the credit shall be paid under the Spitzer method, then instead of the           detailed
in sections (a) and (b) above, we hereby commit to the Bank to repay           the Bank,
the principal together with the interest with respect to the unpaid           balance of
the Credit in equal monthly sequential installments, in ______           consecutive
equal monthly installments in the sum of approximately           _________________ each,
on each ______ of every calendar month, commencing on           _______________ and
terminating on ____________(the “Repayment using           Spitzer Method (Principal
and Interest)”). Notwithstanding the stated in           this section, the monthly
payments may be unequal due to the calculation method,           based upon the number of
days as detailed in section 3(a). 














	 	(d) 	We
are aware that the total repayment schedule which includes the exact amount           of
each payment will be provided to us soon after the allocation of the Credit           and
we that the amount that shall bind us is the one set forth the in the           repayment
schedule or if amended, as detailed in the amended repayment schedule. 






	 	
In
the event of a change in the interest rates as provided by paragraph 3(c) above, the
amount of the unpaid balance of the Credit will be adjusted and the amounts of the
installments changed accordingly so that the amounts of the installments will be equal
from the date of the change until the next succeeding date of change. An amended
repayment schedule will be given to us promptly after the date of the change. 






	 5.  	Mode
of repaying the Credit  






	 	
On
the date of payment of each amount on account of the principal of the Credit, principal,
interest or other charges, please debit our Master Account as mentioned above for the
purpose of discharging such amounts.  






	 	
If
the credit balance in the Master Account shall be insufficient to cover the amount, in
whole or in part, please grant us a credit in the amount required to discharge such sum,
either through the Master Account or through any other account, thereby debiting the
Master Account or such other account.  






	 	
We
are aware and agree that if, at the time the Master Account or the other account is
debited with the credit as aforesaid, the balance in such account will be a debit balance
or become overdrawn as a result of such debiting, the credit will bear interest at the
Customary Rate at such time according to the Terms of Operation of such account. We are
aware that if the credit advanced to us as above exceeds the Credit facility previously
authorized, then such credit will bear Interest at the Maximum Rate according to the
Terms of Operation of such account.  






We are aware that the interest that
shall be debited to us in the Master Account or any other account, might be higher than
one or more of the options as to Interest specified in the Terms of Operation. If it
transpires, either before or after such debiting, that the state of the Account does not
or did not enable a debit in such amount to be effected, and you decide that you do not
wish for any reason to advance us a credit, or any legal impediment will exist to the
debiting of the Account, you will be entitled to debit a special account to be opened in
our name with such amount, and such special account will bear interest as provided by
Clause 5 or Clause 13.5, titled “Deficiency Interest” of the Terms of
Operation.  



	6.  	                   We
shall not be entitled to repay the Credit (principal and interest) before the
                    agreed upon Repayment Date, except if we have a legal right to do so,
that may                     not be conditioned, or that the Bank agrees to do so in
advance, in writing. The                     Bank shall be entitled to condition any such
early repayment, with certain                     terms, including an early repayment
commission, in the maximum amount legally                     allowed. It is hereby
agreed that section 13(b) to the Israeli Pledge Law 1967,                     and any
section that shall replace it, shall not apply to the early repayment of
                    credit. 






	7. 	                    We
approve that we have received a copy of this document. 






	 	
Customers'
signatures: ____________________          ____________________ 














Form of Request to
Allocate a Credit Framework in Debitory Account (unlinked)  



	
Bank
Leumi le-Israel B.M.  





		
		
		
		
		
	Branch_____________________________________	Account No_____________
	Date:______________








Request to Allocate a
Credit Framework In Israeli Currency Account No _________  

(hereinafter referred
to as “the Account”)  



	1.  	The
Request  






We hereby request from Bank Leumi
le-Israel B.M. (the “Bank”) the allocation of a credit framework in account no.
_______ ( the “Credit Framework”) in an amount of _______ (the “Credit
Framework Amount”) in accordance with the detailed in this Request and in the terms
and conditions for operation of the Account, as modified or as will be modified in the
future (the “Terms and Conditions of Operation”). 



	2.  	Term
of the Credit  






	 	2.1 	The
date of advancing the Credit will be _______________ (“Date of Credit Advancement”).
If the Date of the Credit Advancement will not be stated, the date shall be the date
stated on the Bank notice regarding the advancement of the Credit. The end of the term of
the Credit shall be __________________ (the “Credit Expiration Date”). 






	 	2.2 	We
request that at each Credit Expiration Date, the Credit Framework shall be renewed for an
additional year (or another time period), at the terms that shall be in force at such
renewal date, including without limitation with respect to the interest rate, rate of
Allocation of Credit Commission and additional commissions, which shall be in force at
the renewal date. Each renewal of the Credit Framework shall be subject to the receipt
from the Bank, at least 10 days prior to the end of the existing term of the Credit, a
written notice stating the Bank’s approval for such renewal, which shall include the
new terms of the Credit framework. 






For the avoidance of doubt, it is
hereby clarified that nothing in this Request derogates the Bank’s right to not
renew the Credit Framework in whole or in part, or to renew it for a period of less than
a year and/or to decrease or annul, at any time, any Credit Framework, as described in
the Terms and Conditions of Operation.  



	3.  	Interest  






We have noted that subject to the
Terms and Conditions of Operation and for so long as you do not notify us otherwise- 



	 	3.1 	Interest
Rate for Debit Balances in the Credit Framework  






	 	
The
rate of interest on debit balances in the Credit Framework will be a changing rate, equal
to the interest at the basic rate customary in the Bank from time to time in overdraft
accounts in Israeli currency (the “Prime Rate”), as shall be from time to time,
with a margin of ________________ (the “Interest Rate for Debit Balances in the
Credit Framework”). 






	 	3.2 	Maximum
Interest Rate on Debit Balances  






	 	
The
maximum interest rate of debit balances shall be a changing rate, based upon the highest
interest rate ____________ (the “Interest Rate for Debit Balances”), in
addition to the interest rate of _________ (the “Maximum Interest Rate for Debit
Balances”). 






	 	3.3 	Term
of Interest Calculation and Repayment Dates  






	 	3.3.1. 	The
interest mentioned in paragraphs 3.1 and 3.2 above shall be computed based
               upon the number of days that there was been a debit balance in the
Account; and                it will be paid by us or will be credited as debt in our
Account, on the last                business day of March, June, September and December
each year.  














	4.  	Credit
Allocation Commission  






The credit allocation commission in
respect of the Credit Framework, for each quarter, will be in the amount of or at the rate
of ______% (the “Quarterly Credit Allocation Commission”) and will be paid by us
or it shall be credited to the Account in advance at the time of the determination or
increase of any Credit Framework and thereafter it will be paid by us or it shall be
credited to the Account on the first business day of every January, April, July and
October each year . 



In cases that the Credit Allocation
Commission shall be stated in percentages, the calculation of the commission shall be made
by multiplication of the amount of the of the Credit Framework by the stated percentage
and the number of days until the end of the term or the end of the quarter (the earlier of
the two), divided by the number of days in the quarter. 



Notwithstanding the above, the Bank
may determine a minimum or maximum Credit Allocation Commission. 



	5.  	Unilateral
Credit Framework  






	 	5.1 	We
agree that the Bank may, but will not be obliged, at its sole discretion, to provide us
with a unilateral credit framework, in the Account, with out our request. If the bank
provides us with such unilateral credit framework, it shall not be interpreted as the Bank’s
agreement, to repeat this in the future or to renew all or part of the unilateral credit
framework it has provided. 






	 	
In
any case that the Bank shall provide us with a unilateral credit framework, it shall be
deemed part of the Credit Framework and the terms of this document and the Terms and
Conditions of Operation shall apply.  






	 	5.2 	The
debit balances in the unilateral credit framework, if the Bank shall agree to it, shall
bear a changing interest rate equal to the Maximum Interest Rate for Debit Balances, in
the highest rate stated under the most recent agreed upon Credit scale. 






	 	5.3 	The
time period of the unilateral credit framework may be different than the one set for the
       Credit Framework herein. 






	 	5.4 	The
unilateral credit framework shall not bear a Credit Allocation Commission.






	 	5.5 	The
Bank will provide us a notice with respect to the unilateral credit framework, close to
the time of its bestowal. 






	6.  	Amendments  






	 	6.1 	We
are aware that the Bank may, from time to time, amend the interest rates mentioned herein
or any component of them (including the margin rate or the Maximum Interest Rate for
Debit Balances), the Credit Allocation Commission rate (including the minimum and maximum
rates), the term of Credit and their way of calculation. 






Notwithstanding the abovementioned,
as the interest in based upon the Prime Rate, any change in the Prime Rate shall cause a
similar change in the interest. All such changes shall also be applicable to the
unilateral credit framework mentioned in paragraph 5, if such credit framework shall be
provided. 



	 	6.2 	Such
amendment shall apply to all debit balances existing at the time of the amendment and to
all debit balances existing thereafter. 






	 	6.3 	The
notice with respect to any amendment shall be provided as required under applicable law.






	 	6.4 	Notwithstanding
the aforementioned, we are aware that there may be a change in a certain component of the
interest before the Bank provides the Credit Framework, and in such case the interest
rate shall apply to the debit balances shall be at the new rate at that time and not in
the rates detailed herein, that is given only for information purposes. 






	7.  	We
confirm that we received a copy of this document.  






Customers’ signature
______________