Document:

Exhibit 10.24

Karen Sarid

 [address]

Date: September 18, 2011

Re: Appointment as Director of the Board of Directors of the Company

Dear Karen,

We are delighted to invite you to serve as a member of the Board of Directors (the "Board") of Whitesmoke, Inc. (the "Company"). The appointment will become effective upon consummation of the Company’s Initial Public Offering on the Nasdaq Capital Market by no later than March 31, 2012 (“IPO”) and is subject to (i) approval by the Company’s current Board; and (ii) your agreement to the terms contained herein. Subject to the foregoing, in consideration for your services as director, you will be entitled to receive:

	
  

	
(a)

	
Options to purchase 18,000 shares of the Company’s common stock, par value $0.001 each (the “Options”), to vest in equal portions annually over three years following the date of consummation of the IPO (the “IPO Date”), subject to your continued service as a member of the Board. The Options shall be exercisable  at a price equal to the price per share at which the Company’s shares of common stock, par value $0.001 (the “Company Shares”) are offered to the public, immediately upon consummation of the Company’s IPO (the “IPO Price”).  The Options shall be granted under Section 102 of the Income Tax Ordinance and subject to the Company's 2011 Stock Incentive Plan. Principal Market shall mean the Nasdaq Capital Market, the Nasdaq Global Market, the Nasdaq Global Select Market, the OTC Bulletin Board or Pink Sheets, whichever is at the time the principal trading exchange or market for the Company Shares.

	
  

	
(b)

	
A fixed annual fee of US $12,000, to be payable in quarterly installments in arrears, within thirty (30) days of receipt by the Company of an invoice for the previous quarter. The fixed fee shall be pro rated for any part of a year in which you serve; and

	
  

	
(c)

	
A fixed fee of US $500 per meeting attended in person. This fee is to be payable in arrears, within thirty (30) days of receipt by the Company of an invoice. For the avoidance of doubt, you shall not receive any separate form of consideration for meetings that you attend remotely.

	
  

	
(d)

	
In consideration for the advisory services you have provided to the Company, you will also be paid $10,000, which we intend to pay upon (but is not subject to) completion of the IPO.

The above terms are subject to your approval as well as approval by the Board.

	
Kindest regards,

	  
	
Whitesmoke, Inc.

	  
	
By:

	
/s/ Hilla Ovil-Brenner

	
Title:

	
CEO

	
I consent to the terms set forth herein.

	  
	
/s/ Karen Sarid

	
Karen SaridExhibit 10.27

 

August 18, 2011

 

To:

Whitesmoke Inc.

 

Dear Sirs,

 

Re:  Irrevocable Undertaking

 

I, the undersigned, Yair Goldfinger, hereby irrevocably undertake to provide to Whitesmoke Inc. (the “Company”) an amount of $100,000, to be transferred by the undersigned to the Company within three (3) business days from receipt of a written request by the company for such funds.  Such request is to be received by me no later than October 31, 2011.

 

Should the Company request receipt of the funds the funds shall be granted as a convertible loan in accordance with the terms and conditions as the funds provided under the Convertible Loan agreement entered into between the Company and certain investors, dated January 2011, the terms of which I am familiar with.

 

Sincerely,

 

	
/s/ Yair Goldfinger

	  
	
Yair GoldfingerUnassociated Document

Exhibit 10.28

 

AMENDMENT TO EMPLOYMENT AGREEMENT

 

THIS AMENDMENT (the “Amendment”) is entered into as of the date set forth below, by and among  WhiteSmoke Inc., a Delaware Corporation ("Parent"), WhiteSmoke Israel Ltd., a wholly owned subsidiary of Parent, private company organized under the Laws of the State of Israel, whose principal office is located at 11 Kehilat Saloniki Street, Tel-Aviv (the "Company", and together with Parent, the "Group") and Hilla Ovil-Brenner, I.D. no. 32085375 whose address is 39/3 Shmuel Tamir Street Ramat Aviv, Tel Aviv, Israel (the “Employee”).

 

WHEREAS, the Group and the Employee entered into an Employment Agreement, dated March 31, 2011 (together with any exhibits and schedules thereto, the “Employment Agreement”); and

 

WHEREAS, the Group and the Employee desire to amend the Employment Agreement on the terms and conditions set forth herein;

 

NOW, THEREFORE, it is hereby agreed as follows:

 

	
  

	
1.

	
Unless otherwise defined herein, all capitalized terms in this Amendment shall have the same meaning ascribed to them in the Employment Agreement.

 

	
  

	
2.

	
Section 2.3 of the Employment Agreement is hereby amended by its entire deletion and replacement with a new Section 2.3 as set forth below:

	
  

	
“2.3

	
In the event of an initial public offering of the Parent securities, occurring by no later than March 31, 2012 (the “IPO”) the Salary shall increase to $14,583 (fourteen thousand five hundred and eighty-three U.S. dollars). All amounts shall be paid in NIS in accordance with the representative rate of exchange of the U.S. dollar last published by the Bank of Israel prior to the date of payment, but in no event at an exchange rate of less than NIS 3.60: $1.00.”

 

	
  

	
3.

	
Section 2.5 of the Employment Agreement is hereby amended by its entire deletion and replacement with a new Section 2.5 as set forth below:

	
  

	
“2.5

	
The Company shall award the Employee a performance bonus of no less than $150,000, to be paid as follows: (i) $100,000 ninety days following the closing of an initial public offering of the Parent’s shares ("IPO"), sale of the Parent or significant financing event relating to the Parent, and (ii) the remaining $50,000 one hundred and twenty days thereafter.

 

	
  

	
4.

	
Except as set forth herein, the provisions of the Employment Agreement shall remain unchanged and in full force and effect.

 

[Signature Pages Follows]

  

  

  

 

IN WITNESS WHEREOF, the parties hereto have executed this Amendment as of the day and year set forth below.

 

	
WhiteSmoke Israel Ltd.

	  	
Employee

	  	  	  	  	  
	
By:

	  	  	
Name:

	
Hilla Ovil-Brenner

	  	  	  	  	  
	
Name:

	
Hilla Ovil-Brenner     

	  	
ID#:

	
32085375

	  	  	  	  	  
	
Title:

	
CEO

	  	
Signature:

	
/s/ Hilla Ovil-Brenner

	  	  	  	  	  
	
Signature:

	
/s/ Hilla Ovil-Brenner

	  	
Dated:

	  10/10/2011
	  	  	  	  	  
	
Dated:

	
 10/10/2011

	  	  	  
	  	  	  	  	  
	WhiteSmoke Inc.	  	  	  
	  	  	  	  	  
	
By:

	  	  	  	  
	  	  	  	  	  
	
By:

	  	  	  	  
	  	  	  	  	  
	
Name:

	
Hilla Ovil-Brenner

	  	  	  
	  	  	  	  	  
	
Title:

	
CEO

	  	  	  
	  	  	  	  	  
	
Signature:

	
/s/ Hilla Ovil-Brenner

	  	  	  
	  	  	  	  	  
	
Dated:

	  10/10/2011	  	  	  

 

[Signature Page to the Amendment]Unassociated Document

Exhibit 10.29

 

AMENDMENT TO EMPLOYMENT AGREEMENT

 

THIS AMENDMENT (the “Amendment”) is entered into as of the date set forth below, by and among  WhiteSmoke Inc., a Delaware Corporation ("Parent"), WhiteSmoke Israel Ltd., a wholly owned subsidiary of Parent, private company organized under the Laws of the State of Israel, whose principal office is located at 11 Kehilat Saloniki Street, Tel-Aviv (the "Company", and together with Parent, the "Group") and Itay Meroz, I.D. no. 024606485 whose address is [___________] Givatyim, Israel (the “Employee”).

 

WHEREAS, the Group and the Employee entered into an Employment Agreement, dated March 31, 2011 (together with any exhibits and schedules thereto, the “Employment Agreement”); and

 

WHEREAS, the Group and the Employee desire to amend the Employment Agreement on the terms and conditions set forth herein;

 

NOW, THEREFORE, it is hereby agreed as follows:

 

	
  

	
1.

	
Unless otherwise defined herein, all capitalized terms in this Amendment shall have the same meaning ascribed to them in the Employment Agreement.

 

	
  

	
2.

	
Section 2.3 of the Employment Agreement is hereby amended by its entire deletion and replacement with a new Section 2.3 as set forth below:

 

	
  

	
“2.3

	
In the event of an initial public offering of the Parent securities, occurring no later than March 31, 2012 (the “IPO”) the Salary shall be increased to $11,111 (eleven thousand one hundred and eleven U.S. dollars). All amounts shall be paid in NIS in accordance with the representative rate of exchange of the U.S. dollar last published by the Bank of Israel prior to the date of payment, but in no event at an exchange rate of less than NIS 3.60: $1.00.”

 

	
  

	
3.

	
Section 4 of the Employment Agreement is hereby amended by its entire deletion and replacement with a new Section 4 as set forth below:

	
  

	
“4.

	
Bonus

 

Subject to the closing of an IPO, sale of the Parent or significant financing event, as applicable, by no later than March 31, 2012, the Employee will be entitled to a one time gross bonus in the amount of $75,000 (Seventy Five Thousand Dollars) to be paid as follows: (i) $50,000 within ninety days following the closing of an IPO, sale of the Parent or significant financing event and (ii) the remaining $25,000 one hundred and twenty days thereafter. For the avoidance of doubt, no disbursements shall be made to any fund with respect to any bonus payments, and bonus payments shall not be deemed a portion of the Employee’s Salary for any purpose.”

  

  

  

 

	
  

	
4.

	
Except as set forth herein, the provisions of the Employment Agreement shall remain unchanged and in full force and effect.

[Signature Page Follows]

  

  

  

 

IN WITNESS WHEREOF, the parties hereto have executed this Amendment as of the day and year set forth below.

 

	
WhiteSmoke Israel Ltd.

	  	
Employee

	  	  	  	  	  
	
By:

	  	  	
Name:

	
Itay Meroz

	  	  	  	  	  
	
Name:

	
Hilla Ovil-Brenner

	  	
ID#:

	
024606485

	  	  	  	  	  
	
Title:

	
CEO

	  	
Signature:

	
/s/ Itay Meroz

	  	  	  	  	  
	
Signature:

	
/s/ Hilla Ovil-Brenner

	  	
Dated:

	   10/10/2011
	  	  	  	  	  
	
Dated:

	  10/10/2011	  	  	  
	  	  	  	  	  
	WhiteSmoke Inc.	  	  	  
	  	  	  	  	  
	
By:

	  	  	  	  
	  	  	  	  	  
	
By:

	  	  	  	  
	  	  	  	  	  
	
Name:

	
Hilla Ovil-Brenner

	  	  	  
	  	  	  	  	  
	
Title:

	
CEO

	  	  	  
	  	  	  	  	  
	
Signature:

	
/s/ Hilla Ovil-Brenner

	  	  	  
	  	  	  	  	  
	
Dated:

	
 10/10/2011

	  	  	  
	  	  	  	  	  

 

[Signature Page to the Amendment]

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