Document:

SB-2/A

                                                                   Exhibit 10.17

                             MANAGING FEE AGREEMENT

Between:

ORGANITECH U.S.A. INC.                                       (on one side)

And

SIMON ZENATY                                                 (on the other side)

Whereas        ORGANITECH U.S.A. INC. (Hereinafter - "ORGANITECH") and

And whereas    ORGANITECH is interested getting managing active participation
               from Simon Zenaty (hereinafter/:"SIMON"), based on Simon's
               business experience,

And whereas    SIMON wants to participate in ORGANITECH'S management, based on
               its business experience and its interest in ORGANITECH'S success,

          THEREFORE, THE SIDES HEREBY STATE AND AGREE AS FOLLOWS:

     1.   SIMON will participate in the everyday managing activities of
          ORGANITECH.

     2.   The sides hereby agree that:

          a.   SIMON commits to participate in ORGANITECH'S EVERYDAY management
               activities.

          b.   SIMON will dedicate all the necessary efforts needed and
               requested by ORGANITECH, up to a limit of an average of 100 HOURS
               PER MONTH.

               The specific role of Simon, and the use of his efforts, will be
               agreed from time to time by mutual accord between MR. LIOR HESSEL
               and SIMON.

          c.   ORGANITECH will compensate Simon for his efforts, as described
               above, by committing to pay Simon the amount of US $ 4,000 PER
               MONTH, starting from July 2003.

          d.   SIMON will have the right to ask for its remuneration in the
               following conditions:

               i)   A monthly cash payment, only when ORGANITECH'S cash flow
                    will allow it.

               ii)  Until ORGANITECH'S cash-flow will allow it, the amounts will
                    be accumulated, and ORGANITECH will pay a quarterly interest
                    amount based in an annual rate of 5%

               iii) Simon will have the right to request, at any time, the
                    exchange of the accumulated amount (including the
                    interests), for ORGANITECH USA INC. OPEN TRADE SHARES
                    (hereinafter: the "CALL OPTION").

               iv)  In this case, the price of the shares for the execution of
                    the CALL OPTION will be calculated as 75% OF THE AVERAGE
                    CLOSING PRICE OF THE LAST 3 (THREE) MONTHS before the date
                    of Simon's calling for the CALL OPTION.

     3.   SIMON and ORGANITECH agree that each of the parties will be allowed to
          terminate this agreement with a 60 DAYS WRITTEN NOTICE to the other
          party. In this case, the agreement will be terminated 60 days after
          the written notice date (hereinafter: "TERMINATION DATE")

     4.   In case of termination of this MANAGEMENT FEE AGREEMENT, as said in
          article 3 of this agreement, the parties will act as follows:

          a.   SIMON will be allowed to execute its CALL OPTION for the total
               accumulated amount (including interests) until the TERMINATION
               DATE, OR

          b.   Organitech will pay Simon by the termination date the total
               accumulated amount (including interests) in cash.

          If the parties do not agree about which of those alternatives, it is
          agreed that the debt (if there is any) will be split in half, so that
          half of it will be paid in cash and half in shares.

In witness whereof, the parties hereto have duly executed this MANAGING FEE
AGREEMENT as of July 1, 2003

ORGANITECH U.S.A. INC.                                              SIMON ZENATY

----------------------                                              ------------

LIOR HESSEL, CEO                                                    SIMON ZENATYSB-2/A

                                                                   Exhibit 10.18

                                 LOAN AGREEMENT

                       Signed in Yoquneam on June 14, 2004

By and between:

Sh.A. Gali Ltd.

----------------

----------------

(Hereinafter "GALI")                                           on one side

And

OrganiTech USA Inc.
P.O. Box 700, Yoquneam 20692, Israel
Tel: +972-4-9590515; Fax: +972-4-9590514
(Hereinafter "ORGT")                                           on the other side

-------------- -----------------------------------------------------------------
Whereas        Gali has the means to provide ORGT with a loan under the terms
               set forth in this Agreement;
-------------- -----------------------------------------------------------------
And Whereas    ORGT needs a bridging loan for a period of 12 months, and ORGT is
               willing to take a loan from Gali under the terms set forth in
               this Agreement herein;
-------------- -----------------------------------------------------------------
And Whereas    The sides are perfectly aware of the fact that Mr. Simon Zenaty
               is a Director in ORGT as well as a shareholder of Gali;
-------------- -----------------------------------------------------------------
And Whereas    The sides wish to enter this loan Agreement from their own free
               will;
-------------- -----------------------------------------------------------------

It was therefore agreed and concluded as follows:

     1.   The preamble of this agreement shall constitute an integral part
          thereof.

     2.   The sides declare that they are fully aware of the fact that Mr. Simon
          Zenaty is a shareholder of Gali, and a Director in ORGT, and the sides
          commit to refrain from any claims against Mr. Zenaty regarding his
          involvement in the companies.

The Loan

     3.   Gali hereby provides ORGT with a loan of 450,000 NIS for a period of
          12 months under the terms of this Agreement hereof (Hereinafter: "THE
          LOAN").

     4.   The loan shall be transferred to ORGT within 7 days from the signing
          of this Agreement (Hereinafter: "THE EFFECTIVE DATE")

Interest

     5.   The loan shall bear an annual interest of US$ Libor +3% to be paid
          ORGT on quarterly basis.

Premium

     6.   Gali will be granted with a premium of 200,000 shares of common stock
          of ORGT to be issued to Gali within 12 months from the effective date.

     7.   Despite the abovementioned, Gali will have the right to choose not to
          be repaid but instead to be granted the issuance of the following
          amount of common stock of ORGT:

                                   100,000 US$
                    ----------------------------------------
                    Value of the share on the effective date

          In case that Gali chooses this option, it shall notify ORGT at list 15
          days before the date of the scheduled repayment. To avoid any doubt,
          if Gali chooses the option presented in this paragraph, it will not be
          entitled to any repayment in Cash or Cash equivalent other than the
          issuance of shares abovementioned.

     8.   The loan (Capital only) shall be repaid by ORGT 12 months from the
          effective date. To avoid any doubt, ORGT will repay Gali the amount in
          NIS that is worth 100,000 US$ as to its value on the date of the
          repayment.

     9.   If ORGT fails to repay the Loan to Gali, until the date mentioned in
          Paragraph 6 herein, Gali will be entitled to, and ORGT hereby commits
          to issue the number of shares of common stock that will be calculated
          according to the following formula:

                                   100,000 US$
                      ------------------------------------
                      Share value on the effective date /2

     10.  This agreement shall only be valid after the approval of OrganiTech's
          board of directors.

In witness whereof, the parties hereto have duly executed this Agreement as of
June 14, 2004

--------------------------------------- ----------------------------------------
        ORGANITECH U.S.A INC.                         SH.A.GALI LTD.
--------------------------------------- ----------------------------------------
         -------------------                        -----------------
--------------------------------------- ----------------------------------------
           LIOR HESSEL, CEO                            SIMON ZENATY
--------------------------------------- ----------------------------------------EXHIBIT 4.1

[FACE OF CERTIFICATE]

NUMBER
SHR
ORDINARY SHARES

                         [SHAMIR OPTICAL INDUSTRY LOGO]
               INCORPORATED UNDER THE LAWS OF THE STATE OF ISRAEL

                                                               CUSIP M83683 10 8
                                             SEE REVERSE FOR CERTAIN DEFINITIONS

THIS IS TO CERTIFY that

is the owner of

    FULLY PAID AND NON-ASSESSABLE ORDINARY SHARES OF, PAR VALUE NIS 0.01 PER
                                    SHARE OF

Shamir Optical Industry Ltd. (hereinafter called the "Company") transferable on
the books of the Company by the Registered Holder hereof in person or by duly
authorized Attorney upon surrender of this Certificate properly endorsed. This
Certificate and the shares represented hereby are issued and shall be held
subject to all the provisions of the Articles of Association and amendments
thereto of the Company.

     This Certificate is not valid until countersigned and registered by the
Transfer Agent and Registrar.

     WITNESS the facsimile seal of the Company and the facsimile signatures of
its duly authorized officers.

Dated:

/s/ Amir Hai                                                  /s/ Giora Ben-Zeev
CHIEF FINANCIAL OFFICER          [SEAL]         CHIEF EXECUTIVE OFFICER DIRECTOR

COUNTERSIGNED AND REGISTERED:
AMERICAN STOCK TRANSFER & TRUST COMPANY
(NEW YORK, NY) TRANSFER AGENT
AND REGISTRAR
AUTHORIZED OFFICER

[REVERSE OF CERTIFICATE]

The following abbreviations, when used in the inscription on the face of this
certificate, shall be construed as though they were written out in full
according to applicable laws or regulations:

TEN COM -  as tenants in common   UNIF GIFT MIN ACT -  ______ Custodian ______
TEN ENT -  as tenants by the                           (Cust)           (Minor)
           entireties
JT TEN -   as joint tenants with                       under Uniform Gifts
           right of survivorship                       to Minors
           and not as                                  Act__________
           tenants in common                               (State)

     Additional abbreviations may also be used though not in the above list.

<PAGE>

     For value received, _________________________ hereby sells, assigns and
transfers unto

PLEASE INSERT SOCIAL SECURITY OR OTHER
IDENTIFYING NUMBER OF ASSIGNEE

________________

________________________________________________________________________________
   (PLEASE PRINT OR TYPEWRITE NAME AND ADDRESS INCLUDING ZIP CODE OF ASSIGNEE)

________________________________________________________________________________

________________________________________________________________________________

________________________________________________________________________________
of the Ordinary Shares represented by the within Certificate, and does hereby
irrevocably constitute and appoint

________________________________________________________________________Attorney
to transfer the said stock on the books of the within named Company with full
power of substitution in the premises.

Dated__________________

             ___________________________________________________________________
     NOTICE: THE SIGNATURE TO THIS ASSIGNMENT MUST CORRESPOND WITH THE NAME AS
             WRITTEN UPON THE FACE OF THE CERTIFICATE IN EVERY PARTICULAR,
             WITHOUT ALTERATION OR ENLARGEMENT OR ANY CHANGE WHATEVER.

Signature(s) Guaranteed:

_______________________________________________________________
THE SIGNATURE(S) SHOULD BE GUARANTEED BY AN ELIGIBLE GUARANTOR
INSTITUTION (BANKS, STOCKBROKERS, SAVINGS AND LOAN ASSOCIATIONS
AND CREDIT UNIONS WITH MEMBERSHIP IN AN APPROVED SIGNATURE
GUARANTEE MEDALLION PROGRAM), PURSUANT TO S.E.C. RULE 17Ad-15.

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00110-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00110-of-00352.parquet"}], [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00110-of-00352.parquet"}]]