Document:

Unassociated Document

    

      Termination
        Agreement

      

       

      This
        Termination Agreement (this “Agreement”), effective as of January 30, 2008, is
        by and among IXI Mobile, Inc. (f/k/a Israel Technology Acquisition Corp.),
        IXI
        Mobile (R&D) Ltd. (collectively: “IXI”) and A.A. Pearl Investments Ltd. (the
“Management Company”).

       

      WHEREAS,
        IXI and the Management Company entered into a Management Services Agreement
        dated April 11, 2006 (the “Management Services Agreement”) pursuant to which the
        Management Company provided the Services through the service of Mr. Israel
        Frieder;

       

      WHEREAS,
        on July 2, 2007 the parties agreed to assign the Management Service Agreement
        to
        IXI Mobile (R&D) Ltd;

       

      WHEREAS,
        under the terms of the Management Services Agreement, IXI has the right
        terminate the Management Services Agreement;

       

      WHEREAS,
        IXI, the Management Company and Mr. Israel Frieder have agreed to terminate
        the
        Management Services Agreement.

       

      NOW
        THEREFORE, in consideration of the foregoing, the parties hereto agree as
        follows. All capitalized terms not otherwise defined herein shall have the
        meanings ascribed to them in the Management Services Agreement.

       

      1. Termination.
        The
        Management Services Agreement is hereby terminated effective as of the date
        of
        this Agreement.

       

      2. Payments.
        Pursuant to the terms of Section 7.2.1 of the Management Services Agreement,
        IXI
        shall pay the Management Company an aggregate monthly fee of $17,500 per
        month
        plus applicable value added tax (the “Monthly Fee”) payable in arrears on the
        first business day of each month for a period of twelve consecutive months
        (the
“Tail Period”), which Tail Period shall begin on the effective date of the this
        Agreement and terminate of the date which is 12 calendar months from the
        effective date of this Agreement, for an aggregate amount of $210,000 plus
        applicable VAT (such total amount, the “Aggregate Tail Fee”), against issuance
        each month during the Tail Period of a valid tax receipt by the Management
        Company. The Monthly Fee shall be paid in NIS and linked to the US dollar
        based
        on the representative rate of exchange of the US dollar known on the last
        day of
        the month to which the Monthly Fee applies. In Addition the Company shall
        reimburse the Management Company for necessary and actual business expenses
        incurred by the Management Company and Frieder in his role as non-executive
        co-chairman, in accordance with the Company’s policies, as the same shall change
        from time to time (the “Expenses”).

       

      3. Continued
        Service.
        During
        the Tail period, the Management Company shall continue to provide the Services
        solely through the person of Mr. Israel Frieder, who will serve as IXI’s
        Non-Executive Chairman of the Board. In the event that Mr. Frieder is not
        re-elected to serve on IXI’s Board of Directors during the Tail Period or for
        any other reason is no longer a member of IXI’s Board of Directors during the
        Tail Period, the Management Company shall continue to make Mr. Frieder available
        during the Tail Period as a consultant to provide those services as reasonably
        agreed by IXI’s Board of Directors and the Management Company. 

       

      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

        

      

       

      4. Release.
        In
        consideration for the termination of the Management Services Agreement and
        the
        entry into this Termination Agreement, the Management Company (on its own
        behalf
        and on behalf of each of its directors, officers, stockholders, employees,
        agents, affiliates, successors and assigns, including but not limited to
        Mr.
        Israel Frieder) hereby releases, acquits and forever discharges IXI, and
        each of
        its directors, officers, stockholders, employees, agents, affiliates, and
        similar parties of each of its affiliates (collectively, the “Released
        Parties”), and agrees to hold the Released Parties harmless, from and against
        any claim, liability, demand, cause of action, cost, expense, attorneys’ fees,
        damage, indemnity, right of recovery and obligation of every kind and nature,
        in
        law, equity or otherwise, known and unknown, suspected and unsuspected,
        disclosed and undisclosed, arising out of or in any way related to any
        agreements, events, acts or conduct at any time prior to and including the
        execution date hereof relating solely to obligations or payment owed or payable
        to Mr. Frieder or the Management Company; provided
        that
        this Section 4 shall not reduce or otherwise terminate the indemnity obligations
        of IXI with respect to Mr. Frieder’s past, current or future service as a member
        of the Board of Directors of IXI and as a result of this Agreement; provided
        further, that this Section 4 shall not be read to release IXI from payment
        of
        any portion of the Aggregate Tail Fee.

       

      5. General
        Cooperation.
         The
        Management Company and/or Mr. Frieder shall execute such other documents
        and
        take such other actions as IXI shall reasonable request including, but not
        limited to abiding by the Confidential Information, Invention Assignment,
        Competition and Solicitation Undertaking attached hereto as Exhibit A.

       

      6. Miscellaneous.

       

      (a) Governing
        Law; Jurisdiction.
        This
        Agreement shall be governed exclusively by the laws of the State of Israel
        regardless of its conflict of law principles. The parties consent to the
        exclusive jurisdiction and venue of the courts sitting in Tel-Aviv for any
        lawsuit filed arising from or relating to this Agreement.

       

      (b) Entire
        Agreement.
        This
        Agreement embodies the entire agreement and understanding between the parties
        hereto and supersedes all prior agreements, and understandings relating to
        the
        subject matter hereof. If any provision of this Agreement is determined to
        be
        invalid or unenforceable in any respect, such determination will not affect
        such
        provision in any other respect or any other provision of this Agreement,
        which
        will remain in full force and effect. This Agreement may not be amended or
        otherwise modified or waived except by an instrument in writing signed by
        both
        the Management Company and IXI. This Agreement shall be binding as to the
        successors and assigns of each party hereto, and may not be assigned by the
        Management Company without the consent of IXI.

      
        
          
          

        

        
          2

          
            

          

        

        
          
          

        

      

      IN
        WITNESS WHEREOF, the parties hereto have executed this Agreement as of the
        date
        first set forth above.

       

      

        
          	 	
                  IXI
                    Mobile, Inc.

                
	 	 	 
	 	
                  By:

                	/s/
                  Lihi Segal    
	 	
                   

                	
                  Lihi
                    Segal 

                
	 	
                  Its:
                    

                	Chief
                  Financial Officer
	 	 	 
	 	
                  IXI
                    Mobile (R&D) Ltd.

                
	 	 	 
	 	
                  By:

                	/s/
                  Lihi Segal
	 	
                   

                	
                  
                    Lihi
                      Segal

                  

                
	 	
                  Its:
                    

                	Chief
                  Financial
                  Officer
	 	 	 
	 	
                  A.A.
                    Pearl Investments Ltd.

                
	 	 	 
	 	
                  By:

                	/s/
                  Israel Frieder
	 	
                   

                	
                  
                    Israel
                      Frieder

                  

                

        

      

      

      

      Acknowledged
        and Agreed:

      

      

      /s/
        Israel Frieder

      Israel
        Frieder

      

      
        
          
          

        

        
          3Unassociated Document

    

      Second
        Amendment to Amended and Restated Personal Employment
        Agreement

      

      This
        Second Amendment ("Second Amendment:")
        to
        the Amended and Restated Personal Employment Agreement dated as of June 5,
        2007,
        as amended, ("Agreement")
        is
        entered into on January 30, 2008 by and between IXI
        Mobile (R&D) Ltd.,
        a
        company organized under the laws of the State of Israel, having its principal
        office at 17 Ha’Tidhar Str. Raanana (the "Company")
        and
        Gadi Meroz, 1 Nataf St. Ramat - Hasharon, 47226 (“You”
or
        the
        "Employee").

      

      WHEREAS the
        Company and Employee have entered into the Agreement; and

      

      WHEREAS the
        parties desire to further amend the Agreement.

      

      NOW
        THEREFORE,
        in
        consideration of the mutual promises contained herein, and intending to be
        legally bound, the parties hereto hereby declare and agree as
        follows:

       

      1. Amendment
        to Section 6.1 of the Agreement

      

      The
        following shall be added as an additional paragraph to Section 6.1:

       

      “Notwithstanding
        the above, in the event of: (i) a merger of IXI with another entity (in which
        IXI shall not be the surviving entity), or an acquisition of more than 50%
        of
        the shares of IXI, or of all or substantially all of its assets, by an unrelated
        third party, followed by (ii) a termination of your employment by IXI, or
        the
        surviving entity, as the case may be, other than termination for cause, then,
        in
        such case, all remaining unvested shares which are subject to the option
        shall
        vest immediately, upon such termination.”

      

      2.
        There
        shall be no other changes to the Agreement.

      

      IN
        WITNESS WHEREOF,
        the
        parties have executed this Second Amendment as of the date first above
        written.

       

      

      
        	
                /s/
                  Lihi Segal     

              	 	
                /s/
                  Gadi Meroz 

              	 
	
                IXI
                  Mobile (R&D) Ltd.

                By:
                  Lihi Segal

                Title:
                  CFO 

              	 	
                Employee

                Name:
                  Gadi Meroz

              	 

      

      

      

      IXI
        Mobile, Inc. hereby undertakes to fulfill its obligations under Section 6
        of
        this Amendment to Amended and Restated Personal Employment
        Agreement.

      

      
        	
                /s/
                  Amit Haller

              	 
	
                IXI
                  Mobile, Inc.

              	 
	
                By:
                  Amit Haller

              	 
	
                Title:
                  CEO

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00136-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00136-of-00352.parquet"}]]