Document:

EX-10.6

 Exhibit 10.6 

To 
  

			
	 	  	

 ADAMA Agricultural Solutions Ltd 

Letter of indemnity 
  

			
	Whereas	  	The office holders in the Company hold a directors and officers insurance policy that covers, under certain limitations, certain liabilities borne by the office holders (and all as said in the insurance policy and without this
statement altering or expanding the provisions of the policy or the extent of its cover and this statement shall not be deemed as an undertaking made by the Company with regard to the future);
		
	And whereas	  	the coverage, the financial extent or the provisions of the directors and officers insurance policy may not provide insurance to the office holders in a full manner with reference to any claim submitted (if and inasmuch such claim
is submitted) against the office holders;
		
	And whereas	  	the Company wishes to add to the office holders an independent undertaking concerning indemnification in Addendum to the insurance;
		
	And whereas	  	this Letter of Indemnity does not apply to the cases specified in Section 263 to the Companies Law;
		
	And whereas	  	this Letter of Indemnity broadens the extent of the entitlement of the office holders for indemnification and does not reduce it thereof and therefore it should be construed in a broad manner subject to the restrictions of the
law.

  
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 Therefore, and after the authorized Organs of the Company have so approved, the Company hereby undertakes,
pursuant to the instructions of the Companies Law and regulation 66.2 to the Company’s articles, to provide the office holders (as specified hereinafter) the indemnification as specified in this Letter of Indemnity. 

 

	1.	In this Letter of Indemnity, the following terms shall have the respective meanings set forth beside them below: 

 

			
	“The Company”	  	ADAMA Agricultural Solutions Ltd
		
	“Another Company”	  	Any corporation, whether in Israel or abroad, in which the Company, directly or indirectly, holds more than 5% of its issued capital or holds the right to appoint members of its board of directors (or any other entity with similar
power irrespective of its name).
		
	The “Companies Law”	  	The Companies Law 5759-1999 and any other law amending or superseding thereof from time to time.
		
	The “Securities Law”	  	The Securities Law 5728-1968 and any other law amending or superseding thereof from time to time.
		
	“Office Holder”	  	Any person holding office in the Company as set forth by the Companies Law 5759-1999 during the time of approval of this Letter of Indemnity by the board of directors and anyone who will hold an office in the Company as set forth by
the Companies Law 5759-1999 until a different decision is reached by the audit committee and the board of directors.
		
	 “Directors and Officers

Insurance Policy”
 or
“Policy”
	  	A policy for the insurance of directors and Office Holders purchased or that will be purchased by the Company whether as one Policy or more.
		
	“The Index”	  	the consumer price index (the general index) as published from time to time by the Central Bureau of Statistics.

  
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	2.	Undertaking for indemnification  

 Subject to the provisions specified in this
Letter of Indemnity and the instructions of the Companies Law – 
  

	 	2.1.	The Company hereby undertakes, irrevocably (yet subject to the said in Paragraph 7 hereinafter), to indemnify, to the maximal degree permitted by any law and in accordance with the Company’s articles of
association, an Office Holder for debts or expenses imposed upon such Office Holder or incurred by him for the benefit of another person pursuant to a judgment, including given in the matter of a compromise or an arbitral award approved by the
court, due to an act he did or will do by virtue of his being an Office Holder of the Company or an Office Holder on behalf of the Company in Another Company (including acts committed prior to the date of this letter of indemnity related directly or
indirectly to one or more of the events specified in the Addendum to this letter of indemnity or any part thereof or any part related thereof, directly or indirectly (hereinafter - “the Addendum”) provided that the maximum amount of
indemnification shall not exceed the said amount in Paragraph 3 hereunder. 

  

	 	2.2.	In addition, the Company hereby undertakes, irrevocably, to indemnify any Office Holder for any debts or expenses as specified in Paragraphs 2.2.1-2.2.3 hereinafter, imposed upon such Office Holder due to acts he did or
will do by virtue of his being an Office Holder in the Company or a subsidiary, subject to the law applicable to the subsidiary and its articles of association (including acts committed prior to the date of this Letter of Indemnity) provided that
the maximum amount of indemnification shall not exceed the amount specified in Paragraph 3 hereunder: 

  

	 	2.2.1.	 reasonable litigation expenses, including attorney’s fees, expended by the Office Holder as a result of an investigation or proceeding instituted
against the Office Holder by a competent authority, provided that such investigations or proceeding concluded without the filing of an indictment against him and either (A) concluded without the imposition of financial

  
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liability in lieu of criminal proceedings, or (B) concluded with the imposition of a financial liability in lieu of criminal proceedings but relates to a criminal offense that does not
require proof of criminal intent or in connection with a financial sanction; 

 In this paragraph – 

The “conclusion of proceedings without the filing of an indictment”; a “financial liability in lieu of criminal
proceedings” – as such terms defined in the Companies Law. 
  

	 	2.2.2.	Reasonable litigation expenses, including attorney’s fees which the Office Holder incurred or with which the Office Holder was charged by a court of law in a proceeding brought against the Office Holder by the
Company on its behalf or by another person, or criminal prosecution from which the Office Holder was acquitted or criminal prosecution in which the Office Holder was convicted of an offense that does not require proof of criminal intent.

  

	 	2.2.3.	a payment which the Office Holder is obligated to pay to an injured party as set forth in Section 52(54)(a)(1)(a) of the Securities Law, and expenses that the Office Holder incurred in connection with a proceeding
under Chapters H’3, H’4 or I’1 of the Securities Law, including reasonable legal expenses, which term includes attorney fees. 

  

	3.	The amount of indemnification 

  

	 	3.1.	The amount of indemnification that the Company may pay to all Office Holders in the Company and/or Office Holders in Another Company, cumulatively, in accordance with the present Letter of Indemnity for the events
specified in the Addendum, shall not exceed a rate of 25% from the Company’s equity in accordance with the last financial statements of the Company preceding the date of the issuance of the Letter of Indemnity (hereinafter: “Maximum
Indemnification Amount”) 

  
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	 	3.2.	If and inasmuch as the total Maximum Indemnification Amounts the Company will be required to pay shall exceed the Maximum Indemnification Amount (as set forth during that period) in accordance with Paragraph 3.1
hereinabove, the Maximum Indemnification Amount shall be distributed, or its remainder thereof, as the case may be, among the Office Holders who are entitled to the indemnification, in a manner that the amount of indemnification each of the Office
Holders receives in actuality shall be calculated according to the ratio between the amount of indemnification due to each of the Office Holders for the debts or expenses he incurred as a result of the legal proceeding and the amount of
indemnification due to all the aforesaid Office Holders for the debts or expenses which they had to incur due to the legal proceeding, cumulatively for that event. 

 

	 	3.3.	In the event that the Office Holder receives indemnification or will be entitled to receive indemnification by the insurer of the Officers Policy for the event subject of the indemnification, indemnification will be
provided as per the difference between the amount of financial liability imposed on the Office Holder and/or the legal expenses charged to or incurred by the Office Holder as set forth in Paragraph 2 hereinabove, and the amount received by the
insurer concerning this matter provided that the amount of indemnification that the Company will be charged for pursuant to this Letter of Indemnity shall not exceed the Maximum Indemnification Amount. Yet it is clarified that in the event that the
Office Holder incurred any deductible for the event subject of the indemnification then the Company shall indemnify the aforesaid Office Holder for the amount of deductible incurred by him. It is hereby clarified that the Company’s obligation
to indemnify the Office Holder as prescribed by this Letter of Indemnity shall not be negatively affected if the Office Holder is not insured by the Company provided that he will not be indemnified more than once. 

 

	 	3.4.	 The Company shall provide the Office Holder with any reasonable amount needed in accordance with the instructions of Paragraph 3.1 hereinabove on
the date he will 

  
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first be required to pay these amounts (hereinafter: “The Date of Indemnification”), yet the Company will not be obliged to transfer the Office Holder any payment if 15 business
days following the delivery of a request in writing by the Office Holder regarding the matter at hand and as specified in Paragraph 4 did not elapse. Advances paid to the Office Holder on account of payment of legal expenses in criminal proceedings
shall be reimbursed by the Office Holder to the Company if he is found guilty in an offense that requires proof of mens rea and he will reimburse the Company for the other advances if a competent court reaches a decision that he is not
entitled for indemnification. 

  

	 	    	In the framework of the aforesaid undertaking for indemnification, the Company shall furnish the Office Holder with reasonable securities and guarantees whether these are required from the Office Holder following
interim decisions or temporary decisions reached by court or an arbitrator or for the purpose of replacing lien or incumbrance imposed on the assets of the Office Holder. 

 

	 	    	If an approval is required for payment or the provision of securities and guarantees as set forth hereinabove and this payment or arrangement are not approved for any reason, this payment or any part thereof that is not
approved as said shall be subject to the approval of the court, and the Company shall take actions in order to obtain it promptly and shall incur all expenses and payments required for its aforesaid obtainment. 

 

	4.	Handling claims 

 In any event in which an Office Holder may be entitled to
receive the indemnification as specified hereinabove, the Office Holder and the Company shall act in the following manner: 
  

	 	4.1.	The Office Holder will notify the Company in writing as to any legal proceeding initiated against him and any concern or threat that legal proceedings may be filed against him and the circumstances brought to his
attention that may result in filing a legal action against him (hereinafter: “the Proceeding”) and this will be done as shortly as possible after he finds out about it and he shall transfer immediately to the Company or whomever was
assigned by the Company a copy of any document delivered to him with reference to that Proceeding. 

  
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	 	4.2.	The Office Holder shall cooperate fully with the Company and whomever is assigned by the Company including the insurer of the Directors and Officers Insurance Policy, and shall provide any information required with
reference to the claim and will also uphold the remaining instructions of the policy concerning the defense against the claim. 

  

	 	4.3.	Excluding events in which the Company or its subsidiary initiated Proceedings against the Office Holder, the Company shall be entitled to handle the legal defense of the Office Holder concerning the Proceeding and
request from an attorney whose identity shall be determined by the Company at its own discretion and while taking into consideration the Company’s obligations in accordance with the Directors and Officers Insurance Policy and the possibility of
appointing an attorney on behalf of the insurer (hereinafter: “The Company Attorney”). Despite the aforesaid, the Office Holder shall be entitled to appoint an attorney as his representative for the period of the aforesaid
Proceedings. The attorney representing the Office Holder will be informed as to the procedures taken with reference to the legal defense provided to the Office Holder and the Company or its subsidiary shall consult with him on a regular basis
concerning the steps that need to be taken concerning the defense of the Office Holder. The attorney’s fees as said will be paid by the Office Holder provided that none of the following events occurs: (a) The said in Paragraph 4.5 occurs;
or (b) when a joint representation of the Office Holder and the Company is inappropriate under the circumstances due to conflict of interests. 

  

	 	4.4.	Despite the aforesaid in the beginning of Paragraph 4.3 hereinabove, the Office Holder will be entitled to object representation by the Company Attorney for reasonable arguments or under circumstances that, to the mind
of the Office Holder or the Company Attorney, show a conflict of interest between his defense and the Company’s. 

  
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	 	4.5.	If within fourteen days following the reception of the notice as said in Paragraph 4.1 hereinabove the Company (or the insurer) did not assume upon themselves to provide the legal defense against the Proceeding
initiated against the Office Holder or if the Office Holder and/or the Company Attorney objected to his representation by the Company Attorney under the said circumstances in Paragraph 4.4 hereinabove, the Office Holder will be entitled to assign
the treatment of the legal defense to an attorney he selected himself (hereinafter: “the Other Attorney”) provided that the amount of the fees paid to the Other Attorney is approved by the Company’s audit committee and the
audit committee shall provide reasons for its decision. The Office Holder shall be entitled to appeal this decision before the board of directors and the Office Holder will be entitled to appear and present his arguments before the board of
directors. If the entirety of the attorney fees was not approved and the Office Holder decided not to waive the services of the Other Attorney, the Office Holder will be entitled to - if he wishes - to receive from the Company the amount of the
reasonable attorney fees approved to him and the remaining amount will be paid by the Office Holder at his own expense. 

  

	 	4.6.	Despite the aforesaid in Paragraphs 4.4 and 4.5 hereinabove if the Directors and Officers Insurance Policy applies to the matter at hand the Company shall act in accordance with the instructions of the Policy concerning
any matter pertaining to the difference of opinions with the insurer concerning the identity of the representing attorney in accordance with the instructions of the Policy if the assignment of the treatment of the case to the Other Attorney as the
case may be will enable the insurer to be exempt from his liability or reduce it thereof and the instructions set forth in the Policy shall prevail over any understanding reached between the Office Holder and the Company. Yet the Company shall make
any reasonable effort in accordance with the possibilities available to it as prescribed by the Policy to respect the wishes of the Office Holder. 

  
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	 	4.7.	If the Company decided to assume upon itself the legal defense against the Proceeding and the Office Holder did not voice his objection under the circumstances set forth in Paragraph 4.4 hereinabove, the Office Holder
shall sign, at the Company’s request, a letter of authorization that will authorize the Company, as well as the Company Attorney, to handle the legal defense against the Proceeding and represent him with reference to anything related to this
defense, and the Company and the Company Attorney shall be entitled to handle the aforesaid exclusively (yet while providing reports on a regular basis to the Office Holder and consulting with him and his legal advisers) and they shall be entitled
to end the Proceeding as they deem fit, subject to the said in Paragraph 4.15 hereinafter. 

  

	 	    	To dispel any doubt, in the event that criminal proceedings were initiated against the Office Holder, the Company and/or the Company Attorney shall not be entitled to plead guilty on behalf of the Office Holder or agree
to a plea bargaining without the consent of the Office Holder in advance and in writing. In Addendum, in a civil Proceeding (whether in court or arbitration or any compromise) the Company and/or the Company Attorney will not admit to any event that
cannot be indemnified in accordance with the undertakings set forth in this Letter of Indemnity and any law, without the consent of the Office Holder in advance and in writing. 

 

	 	4.8.	The Office Holder shall cooperate with the Company and the Company Attorney in any reasonable manner required concerning their handling of the Proceeding including signature on requests, affidavits, and any other
document that is required in a reasonable manner in order to enable the Company and/or the Company Attorney to conduct the legal defense and represent the Office Holder in accordance with the said in this Letter of Indemnity provided that the
Company incurs the costs involved in the aforesaid cooperation. 

  

	 	4.9.	 If the Company reached a decision to assume upon itself the legal defense against the Proceeding and the Office Holder did not object to that under
the circumstances set forth in Paragraph 4.4 hereinabove, the Company shall incur all expenses and 

  
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payments involved in such a manner that the Office Holder will not be required to pay for them on his own and the Company will not incur any financial liability to the Office Holder in accordance
with this Letter of Indemnity for any legal expenses including attorney’s fees, incurred by the Office Holder as to the defense against the Proceeding. 

  

	 	4.10.	Following the request of the Office Holder, the Company shall pay him as an advance an amount (or amounts) required for covering reasonable expenses he incurs including attorney fees for which the Office Holder is
entitled for indemnification pursuant to this Letter of Indemnity. The amounts of the advance will be agreed upon by the Office Holder and the Company and in the absence of agreement - shall be determined by an arbitrator agreed upon by both
parties. 

  

	 	4.11.	If the Company paid an Office Holder any amount by virtue of this Letter of Indemnity whether as an advance and whether in another manner and then it transpired that the Office Holder had to return this amount, in whole
or in part, since he was not entitled for indemnification in accordance with the instructions of Section 263 to the Companies Law or any other instruction by law, the amount reimbursed shall bear linkage differentials to the Index as well as
interest at the rates customary in Bank Leumi to Israel Ltd for loans linked to the Index from the date the amount was paid and until it was returned. 

  

	 	4.12.	If the Company paid an Office Holder any amount by virtue of the Letter of Indemnity and following that the charge for which the amount was canceled or that the amount decreased for any reason, the Office Holder shall
assign to the Company all his rights for reimbursing the amount by the claimant in the Proceeding and shall take all actions necessary that this assignment shall be valid and that the Company could realize it and upon doing so - he shall be exempt
from reimbursing the amount whose right for reimbursement was assigned. If the Office Holder did not act in the aforesaid manner he will be obliged to reimburse the amount, or any part thereof, as the case may be, with linkage differentials and
interest at the rates according to the period in which he is entitled for reimbursement of the amount by the claimant. 

  
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	 	4.13.	If the Company Attorney represented the Company and the Office Holder in the Proceeding and following that it transpired that the Office Holder was not entitled for indemnification due to the instructions of
Section 263 to the Companies Law or for any other instruction of the law and there is a dispute as to the obligation of the Office Holder to reimburse the court’s expenses or the amounts of reimbursement, the dispute shall be settled by an
arbitrator whose identity is agreed upon by both parties. The Company shall incur the arbitration expenses including attorney fees unless the arbitrator reaches a decision that the Office Holder made use of the arbitration in bad faith. The
arbitrator will be appointed in accordance with the procedure specified in Paragraph 4.14 hereunder. 

  

	 	4.14.	The Office Holder will not agree to a compromise or transferring the Proceeding to arbitration unless the Company provided its consent in advance and in writing and, if the insurer’s consent is required, then
consent of the insurer of the Directors and Officers Insurance Policy was received as well. The Company will not agree to reach a compromise unless the compromise agreement does not expose the Company and/or the Office Holders to additional claims
on behalf of the claimant or the claimants and that this agreement will not constitute an admission or acknowledgement of the Office Holder’s responsibilities as to the causes subject of the Proceeding. The Company shall inform the Office
Holders of the details of the compromise agreement. In the event in which there is a dispute between the Company and an Office Holder or the Office Holders concerning the question whether the compromise agreement complies with the instructions of
this Paragraph the dispute will be settled promptly by an arbitrator who will be appointed in accordance with the requirements of the Company or an Office Holder. The arbitrator will be appointed following the approval of the parties within 7 days
following the demand of a party that the dispute be settled in arbitration and if the parties did not agree upon the identity of the arbitrator the identity of the arbitrator shall be determined by the chairman of the Israeli Bar association. The
Company shall incur the arbitration costs including attorney fees. 

  

	 	4.15.	The Company as well as the Company Attorney will not agree to a compromise whose amount exceeds the amount of indemnity the Office Holder is entitled to unless the Office Holder provides his consent in advance and in
writing and if there is a need for the insurer’s consent – then upon the provision of insurer in advance. 

  
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	5.	Effect of the undertaking 

  

	 	5.1.	The undertaking concerning the indemnification shall come into in effect both with reference to the Proceedings initiated against the Office Holder during his office in the Company and the Proceedings initiated against
him, including against his estate, following the termination of his work or term in office in the Company provided that they address acts done by the Office Holder from the time he was appointed as an Office Holder during or due to his being an
Office Holder or as a result thereof. The undertaking for indemnification shall also be in effect concerning the estate of the Office Holder, his successors and substitutes by law. 

 

	 	5.2.	The Company shall not be required to pay in accordance with this Letter of Indemnity, amounts paid to an Office Holder in actuality or for him or instead of him in any manner as part of the insurance purchased by the
Company or as part of an insurance purchased by a company under the control of the Company or a related company (if the Office Holder holds office therein as an Office Holder following the request of the Company), or any undertaking of
indemnification of a company controlled by the Company or any related company or anybody aside from the Company. 

  

	 	5.3.	 This Letter of Indemnity does not derogate from and is without prejudice to the Company’s undertakings in accordance with letters of indemnity
given to Office Holders in the Company prior to coming into effect of the present Letter of 

  
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Indemnity inasmuch as the aforesaid undertakings are in effect by law and provided that the Company will not be obliged to indemnify the Office Holders for that event both prior to a previous
letter of indemnity and in accordance with this Letter of Indemnity. 

  

	 	5.4.	This Letter of Indemnity does not cancel, derogate or waive another letter of indemnity that the Office Holder is entitled to from any other entity in accordance with the instructions of any law or in accordance with
any other undertaking subject to the final section of Paragraph 5.3 hereinabove. 

  

	 	5.5.	This Letter of Indemnity does not restrict the Company or prevent it from giving an Office Holder an additional indemnification or additional indemnifications provided that this does not derogate from or is without
prejudice to the undertakings subject of this Letter of Indemnity. 

  

	 	5.6.	This Letter of Indemnity does not restrict the Company or prevent it from increasing the maximum indemnification amount that, due to the events subject of the indemnification, whether because the insurance amounts in
accordance with the Directors and Officers Insurance Policy shall be reduced, whether because the Company will not be able to obtain Directors and Officers Insurance Policy that will provide coverage to the events subject of the indemnification
under reasonable conditions and whether for any other reason provided that the decision as said will be taken in accordance with the instructions set forth in the Companies Law. 

 

	 	5.7.	The Company’s undertakings in accordance with this Letter of Indemnity shall be construed broadly and in a manner intended for their upholding, inasmuch as permitted by law, for the purpose they were intended. In
the event of discrepancy between any instruction in this Letter of Indemnity and an instruction of the law that cannot be stipulated, altered or added thereof, the aforesaid instruction of the law shall prevail yet this shall be without prejudice to
or without derogating from the effect of the remaining instructions in this Letter of Indemnity. 

  

	 	5.8.	To dispel any doubt it is hereby declared that this Letter of Indemnity does not constitute a contract for a third party and it may not be assigned. 

  
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	6.	The undertaking concerning the indemnification of an Office Holder in the Company in accordance with this Letter of Indemnity shall apply even to an Office Holder holding office on behalf of the Company in Another
Company as set forth in the preamble to this Letter of Indemnity, mutatis mutandis, for events and acts that were done during his term in office or his office in the Other Company. 

 

	7.	If in the future the authorized entities in the Company shall approve to provide Office Holders in the Company a letter of exemption and indemnification whose provisions or any part thereof shall prove to be preferable
to the provisions set forth in this Letter of Indemnity and/or any thereof, then this benefit shall also apply to the Office Holder and this Letter of Indemnity shall be deemed as amended to the benefit of the Office Holder. If there is a change in
the law in the future that will add further rights entitling the Office Holder for indemnification, this change shall be deemed to apply to the rights of the Office Holder concerning indemnification in the framework of this Letter of Indemnity.

  

	8.	The law applying to this Letter of Indemnity and any matter related thereto is the Israeli law. The jurisdiction in anything related to this Letter of Indemnity and the performance thereof shall be with the competent
court in the city of Tel Aviv-Yafo subject to the said in Paragraph 4.14 hereinabove. 

  

					
		 	  
	 	
		 	ADAMA Agricultural Solutions Ltd	 	

  
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 The Addendum to the Letter of Indemnity - ADAMA Agricultural Solutions Ltd 

The Events 
  

	1.	An offer, issue, sale, and stock repurchase of securities (“Issue”) by the Company or a subsidiary or a related company (hereinafter: “the Company”) or by the Company’s shareholders including,
yet without derogating from the generality of the aforesaid, the offer of securities to the public according to prospectus, a private offer or a securities offer in any other manner (including an offer for sale), with all ensuing consequences,
including the performance of due-diligence, providing information in writing or by word of mouth, entering into agreements with underwriters, preparation and signature on a prospectus, financial statements, reports in accordance with any law and
other issue documents. 

  

	2.	Investments carried out by the Company in other corporations and any relevant activities, whether before, during or following the investment, including an examination of the investment, the decision to carry out the
investment, entering into an agreement concerning the investment transaction, receiving the required approval, executing it, inspection and follow up activities concerning the investment and activating means of control with reference to the
investment (including voting in general meetings of the Company in which the investment was made, the appointment of Office Holders therein and so on) as well as the realization of the investment. 

 

	3.	Any matter pertaining to the sale, purchase (including through the realization of an option or another convertible security as well as through a tender offer submitted by the Company), lending, encumbrance, or holding
of securities (negotiable and non-negotiable) by the Company. 

  

	4.	 Transfer, sale or purchase of assets (tangible and intangible) or undertakings or activities, including securities or rights or providing or receiving
a right thereof, including through tender offers of any kind (including with reference to the board of directors’ opinion in a special tender offer as specified in the Companies Law or their avoidance from providing such opinion as said) of
merger of the Company with another entity or an agreement as 

  
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well as a transaction in securities issued by the Company and all including if transactions or activities as said are entered into with interested parties or Office Holders in the Company or that
interested parties or Office Holders in the Company have personal interest thereof. 

  

	5.	A change of the Company’s structure or the Company’s reorganization (whether from the aspect of the corporation and whether in the organizational-operational aspect) and any decision thereof including, yet
without derogating from the generality of the aforesaid, merger, spin-off, a change in the Company’s equity or its sale; liquidation, receivership, sale of assets or businesses (in whole or in part), a composition of creditors, freeze of
proceedings or similar procedures in the Company. 

  

	6.	Prohibited distribution. 

  

	7.	The drawing or approval of financial statements and board of directors reports. 

  

	8.	Reporting (including immediate, periodic or other), disclosure, notification or provision of information, statement or documents (including avoidance thereof and including the content thereof) by virtue of the Companies
Law, the Securities Law 5728-1968, the Trade Restriction Law 5748-1988, laws pertaining to taxation (including charges, fees etc.), the environment, safety, planning and construction and in accordance with regulations, orders, guidelines, rules or
instructions of any competent authority (including the Israel Securities Authority, Israel Antitrust Authority, Israel Tax Authority, National Insurance Institute of Israel, Ministry of Environmental Protection, Ministry of Labor and other municipal
and governmental entities) that were legislated or by virtue of which were executed and all including laws amending or superseding the aforesaid laws (“the Laws Relevant to the Range of Business”) or in accordance with laws,
regulations, orders, guidelines, rules or instructions pertaining to similar areas in other countries, or in accordance with rules of guidelines that are customary in the Stock Exchange in Israel or abroad. 

  
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	9.	A report or statement addressed to the Company auditors in relation to the financial statements of the Company or given to a controlling person or an interested party in relation to the disclosure or report concerning
the company that the controlling person or the interested party ought to provide. 

  

	10.	Formation and implementation of strategic, business plans or forecasts in relation to the Company, formation and execution of work plans in financial, industrial or marketing subjects and concerning investments and
products. 

  

	11.	Setting a policy, management and control of topics relating to risk management and limitation of exposure and the Company’s liability and its related companies with reference to tangible and intangible damage,
currency and financing risks (including currency risks and changing rates of currencies and interests) or risks involving the provision of credit. 

  

	12.	Providing information to shareholders in the Company of other holders of securities of the Company (or avoidance from any of the aforesaid) or to third parties. 

 

	13.	Transactions made by the Company with interested parties or a controlling person including the manner of their approval or content thereof. 

 

	14.	Collective and personal employment agreements, rewarding employees and service providers to the Company (including Office Holders and interested parties and including through salary, bonuses, options, and any other kind
of benefit), retirement arrangements. 

  

	15.	Breach of environment laws in Israel or any other country and accidental or continuous harm to the environment, air, water or land quality and accidental or continuous harm to the body or assets of a Company employee or
any other third party. 

  

	16.	Acquisition, sale, shipping and handling, storage, use, treatment, production, disassembly, release, emission, flow, disposal, landfill, exposure, leak, flooding, permeation or pouring of hazardous materials and
pollutants that may harm the environment, human beings, flora and fauna and any other harmful act as said. 

  
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	17.	Breach of safety laws and rules (including construction, founding, operation and maintenance) in Israel or any other country. 

  

	18.	Any damage, accidental or continuous, inflicted by the Company employees, its contractors, guests and invitees as a result of the accidental or continuous event or stemming from employment conditions, temporary or
permanent in the Company plants or any part thereof. 

  

	19.	Breach of any law pertaining to the licensing of agricultural products or any other use thereof including breach of the process of licensing of products as well as manufacture, storage and sale of products that need to
be licensed that were not licensed or in breach of their licensing provisions. 

  

	20.	A request, reception and maintenance of licenses, permits and certificates in Israel and abroad, upholding and complying with the provisions contained therein or by virtue therein including providing information in
relation to the licenses, permits and certificates as said and all whether by virtue of the relevant laws pertaining to the range of business and whether by virtue of any other law (or avoidance thereof). 

 

	21.	Taking bank and off-bank credit (including suppliers’ credit) and factoring. 

  

	22.	Payment or avoidance from payment any tax, fee, fine or any other mandatory payment (whatever its name may be) to a governmental or local authority whether by virtue of the laws relevant to the range of business and
whether by virtue of any other law. 

  

	23.	Advertisement and/or marketing in relation to the Company business and its products. 

  

	24.	A statement, declaration, saying including statement of opinion provided an Office Holder in relation to his office in the Company or its related companies, including in general meetings, board of directors meetings,
conferences, conversations, interviews and publications. 

  
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	25.	Breach of privacy and libel inflicted upon the Office Holder in relation to his office in the Company or its related companies. 

  

	26.	Arrangement (or avoidance thereof) of appropriate insurance for the Company. 

  

	27.	Harm, breach or misuse of intellectual property rights including breach of any third party patents. 

  

	28.	Entering into agreements (including negotiations) with service providers, suppliers, contractors and consultants. 

  

	29.	Claims with reference to documents that are related to the issues specified hereinabove, or in relation to actions or decisions related to the issues specified hereinabove or in relation to representations and
undertakings given with reference to the issues specified hereinabove including representations and undertakings as said given to third parties or to the Company, its subsidiary or related company or any on their behalf (including to consultants
such as auditors, attorneys and so on) As to each of the aforesaid events indemnification shall be given – 

  

	•	 	for any act or omission that relate to the event including its initiation, planning, decision making process as to its execution, implementation, prevention, inspection, control including their absence.

  

	•	 	Whether it occurred in Israel or abroad. 

 In this Addendum “the Company” shall mean: the Company
and/or its subsidiaries. 
 In relation to the aforesaid, reference to any act includes its non-performance (omission) or partial or defective performance
(including non-performance of an act required by law or its performance in a defective manner that does not comply with the requirements of the law) or the absence of control or inspection as to its performance. 

  
 19EX-10.7

 Exhibit 10.7 

EMPLOYMENT AGREEMENT 
 THIS
AGREEMENT (hereinafter: the “Agreement”) is made and entered on the 22 day of June 2014, by and between ADAMA Agricultural Solutions Ltd., an Israeli company whose principal place of business is Golan Street, Airport
City, Israel (hereinafter: the “Company”), and Chen Lichtenstein (hereinafter: the “Employee”). 
  

			
	WHEREAS	  	The Employee is employed by the Company as of March 1, 2006; and
		
	WHEREAS	  	As of May 1, 2007 the Employee is engaged by the Company in accordance with the terms of an employment agreement dated August 29, 2007 (hereinafter: the “Previous Agreement”);
		
	WHEREAS	  	As of February 7, 2014 the Employee is engaged in the position of the President and Chief Executive Officer of the Company (hereinafter: the “Position”);
		
	WHEREAS	  	The Parties wish to set forth in this Agreement the terms and conditions of the Employee’s employment in the Position as of February 7, 2014 (hereinafter: the “Effective Date”);

 NOW, THEREFORE, the Parties agree as follows: 

 

	1.	General 

  

	 	1.1.	The preamble to this Agreement constitutes an integral part hereof. 

  

	 	1.2.	This Agreement is personal, and the terms and conditions of the Employee’s employment shall be solely as set forth herein. The Employee shall not be entitled to any payment, right or benefit, which is not expressly
mentioned in this Agreement, including, without limitation, any payments, rights or benefits of any current or future general or special collective labor agreements or arrangements or extension orders, any custom or practice, and/or any other
agreements between the Company and its employees. 

  

	 	1.3.	This Agreement may only be amended in writing and signed by both parties. 

  

	 	  	For the avoidance of any doubt, this Agreement shall contain the entire understanding between the Company and the Employee with respect to his employment by the Company as of the Effective Date and all prior
negotiations, agreements (including the Previous Agreement), offer letters, commitments and understandings (whether written or oral) not expressly contained herein shall be null and void in their entirety (excluding the Option Grant Agreement and
the Long Term Cash Incentive Grant Agreement, both dated January 29, 2014, and that certain conflict of interest arrangement dated June 6, 2013 as was amended on May 11, 2014). 

 

	 	1.4.	In this Agreement “Group” shall mean the Company and its affiliates, being persons or entities which are held by the Company now or in the future (individually and collectively referred to as the
“Group”). 

  

	2.	Position and Undertakings 

  

	 	2.1.	The Employee shall continue to be engaged in the Position. The position includes all activities usually performed by a CEO in a company, which is similar to the Company in respect of its scope, size and type of
activity, including but not limited to any duties that will be decided by the board of directors of the Company (hereinafter: the “Board”). Within the framework of the Position, the Employee will implement the Board’s
decisions, and strive to fulfill the Company goals. 

  

	 	2.2.	The Employee shall devote all of his business and professional time, attention, energy, skill, learning and best efforts to the business and affairs of the Company 

 

	 	2.3.	The Employee shall not engage, directly or indirectly, in any business, professional or commercial occupation (including as a board member) outside his employment with the Company, whether or not such occupation is
rendered for any gain, without the prior written approval of the Company’s Board, and subject to the terms of such approval, and accept as provided for in Schedule A. 

  
 1 

 It is hereby agreed that the Employee is allowed to engage in the voluntary activities with
respect to his home town committees. 
  

	 	2.4.	As the Employee is employed hereunder in a management position, which requires a special degree of trust, the Hours of Work and Rest Law 1951, and any other law amending or replacing such law, does not apply to him or
to his employment with the Company. The Employee acknowledges that the consideration set for him hereunder nevertheless includes within it consideration that would otherwise have been due to him pursuant to such law. 

 

	 	2.5.	The Employee consents, of his own free will and although not required to do so under law, that the information in this Agreement and any information concerning him gathered by the Company, will be held and managed by
the Company or on its behalf, inter alia, on databases according to law, and that the Company shall be entitled to transfer such information to third parties, in Israel or abroad. The Company undertakes that the information will be used, and
transferred for legitimate business purposes only. Without derogating from the generality of the above, such purposes may include human resources management and assessment of potential transactions, to the extent required while maintaining the
Employee’s right to privacy. 

  

	3.	Salary 

  

	 	3.1.	In consideration for the Employee’s fulfillment of his obligations under this Agreement, the Company shall pay the Employee a gross monthly salary of NIS 153,686 (hereinafter: the “Salary”).

  

	 	3.2.	The Salary will be linked to the Israeli Consumer Price Index (hereinafter: the “CPI”) as known on the Effective Date and will be adjusted on a monthly basis based on the CPI known on the date of
payment. If the CPI is negative, the Salary will not decrease; however, any negative balance will be set-off against the subsequent positive balance (or the subsequent positive balances, if required). It is agreed that such salary updates will
replace any incremental allowances or adjustment payments required under law. 

  

	4.	Bonuses 

  

	 	4.1.	The Employee may be entitled to receive an annual bonus subject to the terms and conditions of the Company’s Remuneration Policy and subject to the decision of the Company’s organs and the provisions of the
applicable laws as in effect from time to time (hereinafter: the “Remuneration Policy” and the “Annual Bonus” as relevant). 

  

	 	4.2.	The Employee may be entitled to additional special bonuses subject to the terms of the Remuneration Policy and to the decision of the Company’s organs. 

 

	 	4.3.	Where any bonus is paid to the Employee hereunder, being a conditional payment, it shall not constitute a salary component for any purpose, including for the purpose of calculating any fringe benefits such as severance
pay. 

 Without derogating from the generality of the above, and for the sake of caution only, it is hereby mutually agreed
that any bonus paid (including any Annual Bonus), if paid, includes within it any severance pay on account of it. 
 It is agreed that the
Parties will file a request to the Minister of Economy to approve this arrangement according to Section 28 of the Severance Pay Law, 1963. 

If the Ministry of Economy’s approval is not obtained, and the Employee demands severance pay on the basis of any of the bonuses, then it
is hereby mutually agreed that any bonus amounts paid to the Employee will be decreased retroactively by 8.33% (hereinafter: the “Reduced Bonuses”). In such case, any bonuses payment that were paid in excess of the Reduced Bonuses will be
considered as advanced payments paid to the Employee and will be set-off against any amount owed to the Employee. 

  
 2 

 For the avoidance of any doubt, the lack of any set-off or partial set-off shall not exempt the
Employee from his liability to return his abovementioned debt to the Company. 
  

	 	4.4.	In accordance with the Company’s Remuneration Policy, the Employee will be required to pay back to the Company amounts overpaid to them for the performance-based component of the bonus, which were paid on the basis
of data that turned out to be erroneous and were restated in the financial statements of the Company. 

  

	5.	Company Car 

  

	 	5.1.	The Company shall make a company car available to the Employee for its use in the performance of the Position (hereinafter: the “Company Car”), with all maintenance and usage expenses paid by the
Company. The Employees to bear any and all liability and costs in relation to traffic, parking and other fines, which if paid by the Company will be set off from the Employee’s Salary or from any other payment owed to him by the Company.

  

	 	5.2.	The Company shall bear the tax associated with the Company Car benefit under any applicable law. 

  

	 	5.3.	The receipt of this car benefit is in place of any travel expenses to which the Employee would otherwise be entitled at law. 

  

	6.	Cellular Phone 

  

	 	6.1.	The Company shall provide the Employee with a cell phone for its use in the performance of the Position (hereinafter: the “Cellular Phone”), with all maintenance and usage expenses paid by the Company.

  

	 	6.2.	The Company shall bear the tax associated with the Cellular Phone benefit under any applicable law (if applicable). 

  

	7.	Out of Pocket Expenses and Additional benefits 

 The Company shall reimburse the
Employee for all business expenses incurred by the Employee in connection with the provision of this Agreement, all subject to Company’s policy as in effect from time to time. 

In addition, the Employee shall be entitled to reimbursement of expenses for the telephone and internet lines in his residence and for one
daily newspaper and one financial newspaper. 
 The Employee will receive a laptop computer for the purposes of performing the Position. 

The Employee will be entitled once a year to undergo medical checks (“Seker Menahalim”) financed by the Company. 

The Company shall bear the tax applicable in connection with all the expenses mentioned above (if applicable). 

 

	8.	Annual Leave 

  

	 	8.1.	The Employee shall be entitled to annual leave of 24 working days per year. 

  

	 	8.2.	Redemption of vacation days will only occur at the end of the employment relations and shall be calculated on the basis of 130% of the Salary (i.e on Salary only and not based on social benefits as for the avoidance of
any doubt, the 130% was calculated to take into account the cost of the social benefits). 

  

	 	8.3.	The Employee may accumulate up to 50 days of annual leave in any given time. Any annual leave exceeding such limit, shall be erased by the Company and, for the avoidance of doubt, shall not be paid out on termination.

  
 3 

	9.	Recuperation Pay 

 The Employee shall be entitled to 16 days of recuperation each
year according to the tariff required by law. 
  

	10.	Sick Leave 

  

	 	10.1.	The Employee shall be entitled to 27 calendar days of sick leave each year. 

  

	 	10.2.	The Employee shall be entitled to accumulate up to 180 sick days. 

  

	 	10.3.	In the event that the Employee is entitled to payment from any insurance company or any other body (which are financed by the Company) for his sick leave and to the extent that such payment is made, he will not be
entitled to sick-leave payment from the Company, to that extent. 

  

	 	10.4.	For the avoidance of doubt, in the event of termination of employment for any reason, the Employee shall not be entitled to any compensation for unused sick leave. 

 

	11.	Military Reserve Service 

 During any reserve service period, the Company shall
continue to pay the Employee his Salary, provided that the Employee submits to the Company proper written documentation substantiating such service, in order for the Company to receive the reserve duty payments from the National Insurance Institute.

  

	12.	Pension Arrangement 

  

	 	12.1.	The Employee shall continue to be entitled to contributions to a Managers Insurance Policy (hereinafter: the “Policy”) or to a comprehensive pension plan (hereinafter: the “Pension
Plan”), or a combination of the two, as may be selected by him, at the following monthly rates: 

  

	 	12.1.1.	In the event that the Employee chose a Policy: (i) 8.33% towards severance pay component; and (ii) 5% of towards the savings and risk component. In addition, the Company shall also make provision for
the loss of the earning capacity component at the lower of, 2.5% of the Salary or a rate which is required to ensure 75% of the Salary. The Company shall also deduct 5% to be paid on the Employee’s account towards the Policy. 

 

	 	12.1.2.	In the event that the Employee chose a Pension Plan: (i) 8.33% towards severance pay component; and (ii) 6% towards the savings and risk component. The Company shall also deduct 5.5% to be paid on the
Employee’s account towards the Pension Plan. 

  

	 	12.2.	The contributions towards the severance pay component of either the Policy or the Pension Plan (as applicable) shall be made out of the entire Salary. 

 

	 	12.3.	At the request of the Employee, it is agreed that the contributions towards the savings and risk component (in either the Policy or the Pension Plan, as applicable, and on behalf of both the Employee and the
Company’s contributions) shall only be made out of the Salary up to the ceiling recognized by the income tax authorities from time to time, but not otherwise (hereinafter the “Exempted Salary”). In addition, the Employee shall
be entitled to receive an increment that will paid together with the Salary in an amount equal to the Company’s contributions to the savings and risk component out of the portion of the Salary above the Exempted Salary (hereinafter: the
“Pension Increment”). 

 The Pension Increment shall not constitute a salary component for any purpose,
including for the purpose of calculating any fringe benefits (such as severance pay). 
 Without derogating from the generality of the above,
and for the sake of caution only, it is hereby mutually agreed that any Pension Increment paid includes within it payment of severance pay on account of it. 

  
 4 

 It is agreed that the Parties will file a request to the Minister of Economy to approve this
arrangement according to Section 28 of the Severance Pay Law, 1963. 
 If the Ministry of Economy’s approval is not obtained, and
the Employee demands severance pay on the basis of any of the Pension Increments paid, then it is hereby mutually agreed that any Pension Increments paid to the Employee will be decreased retroactively by 8.33% (hereinafter: the “Reduced
Increments”). In such case, any Pension Increments that were paid in excess of the Reduced Increments will be considered as advanced payments paid to the Employee and will be set-off against any amount owed to the Employee. 

For the avoidance of any doubt, the lack of any set-off or partial set-off shall not exempt the Employee from his liability to return his
abovementioned debt to the Company. 
  

	13.	Further Education Fund 

  

	 	13.1.	The Company shall continue to make monthly Further Education Fund’s contributions as follows: 7.5% of Salary paid by the Company on its account and 2.5% of Salary to be deducted by the Company from such Salary to
be paid on the Employee’s account. 

  

	 	13.2.	At the request of the Employee, it is agreed that the contributions shall be made in each case up to the ceiling recognized by the income tax authorities from time to time (the “Exempted Education Fund
Salary”) and that in addition, the Employee shall be entitled to receive an education supplement to be paid together with his salary in an amount equal to the Company’s contributions towards the Further Education Fund out of the Salary
above the Exempted Education Fund Salary (hereinafter: the “Education Fund Increment”). 

 The Education Fund
Increment shall not constitute a salary component for any purpose, including for the purpose of calculating any fringe benefits (such as severance pay). 

Without derogating from the generality of the above, and for the sake of caution only, it is hereby mutually agreed that any Education Fund
Increment paid includes within it payment of severance pay on account of it. 
 It is agreed that the Parties will file a request to the
Minister of Economy to approve this arrangement according to Section 28 of the Severance Pay Law, 1963. 
 If the Ministry of
Economy’s approval is not obtained, and the Employee demands severance pay on the basis of any of the Education Fund Increments paid, then it is hereby mutually agreed that any Education Fund Increments paid to the Employee will be decreased
retroactively by 8.33% (hereinafter: the “Reduced Education Fund Increments”). In such case, any Education Fund Increments that were paid in excess of the Reduced Education Fund Increments will be considered as advanced payments paid to
the Employee and will be set-off against any amount owed to the Employee. 
 For the avoidance of any doubt, the lack of any set-off or
partial set-off shall not exempt the Employee from his liability to return his abovementioned debt to the Company. 
  

	14.	Term and Termination 

  

	 	14.1.	This Agreement is effective as of the Effective Date and shall continue for an un-fixed term, unless terminated in accordance with the terms of this Agreement. 

 

	 	14.2.	Each Party may terminate this Agreement by providing prior written notice to the other party of three (3) months (hereinafter: the “Prior Notice Period”). 

 

	 	14.3.	The Company may, in its sole discretion terminate the Employee’s employment without Prior Notice, in whole or in part, by giving the Employee notice together with payment in lieu of all or part of the Prior Notice
Period, as the case may be, according to law. In such case, the Employee’s employment shall be deemed to have ceased on the date of the receipt of the notice from the Company. 

Despite the above, it is agreed that if the Company was the party, who initiated the termination of employment and it decides to pay in lieu of
the Prior Notice Period, the payment in lieu of the Prior Notice Period will be calculated on the basis of 130% of the Employee’s Salary and not as detailed above. For the avoidance of any doubt, the rate of 130% was calculated to include the
cost of the social benefits. 

  
 5 

	 	14.4.	Notwithstanding the above, the Company shall be entitled to terminate this Agreement forthwith, without any prior notice or payment in lieu of prior notice, where the Employee was convicted in embezzlement or another
offence that carries disgrace (

) with respect to the Company. 

  

	 	14.5.	Upon termination of this Agreement, the Employee shall immediately return to the Company each and every asset (including the Company Car, the Cellular Phone, Company’s documents and any Company’s or
Group’s information) in his possession or control which belongs, or has been entrusted, to the Company and shall not have any right or lien with respect to any asset. 

 

	15.	Acclimation Bonus 

 Upon termination of employment, for any reason (excluding
circumstances that entitle the Company legally to dismiss the Employee without paying him severance pay, in whole or in part), the Employee shall be entitled to an adjustment bonus at the amount of 6 times 130% of his Salary (hereinafter: the
“Adjustment Bonus”). For the avoidance of doubt, it is hereby clarified that the Adjustment Bonus is a special one-time separation compensation, which will not be considered as a salary component for any matter purpose. 

 

	16.	Confidentiality, Non-Competition, Non-Solicitation, and Intellectual Property 

  

	 	16.1.	Confidentiality 

 The Employee acknowledges and agrees that he had and will continue to
have access to confidential and proprietary information concerning the business and financial activities of the Company and the Group and information and technology from the Company’s product research and development, including without
limitation, the Company’s banking, investments, investors, properties, employees, marketing plans, customers, suppliers, trade secrets, and test results, processes, data, know-how, improvements, inventions, techniques and products (actual or
planned). Such information, whether documentary, written, oral or computer generated, shall be deemed to be referred to as “Proprietary Information”. 

Proprietary Information shall be deemed to include any and all proprietary information disclosed by or on behalf of the Company and
irrespective of form but excluding information that (i) was known to the Employee prior to his association with the Company and can be so proven; (ii) shall have become a part of the public knowledge except as a result of breach of by the
Employee; (iii) reflects general skills and experience gained during the Employee’s engagement by the Company; or (iv) reflects information and data generally known the industries or trades in which the Company competes. 

The Employee agrees and declares that all Proprietary Information, patents, trademarks, copyrights and other rights in connection therewith
shall be the sole property of the Company and its assigns. At all times, both during his engagement by the Company and after his termination, the Employee will keep in confidence and trust all Proprietary Information, and the Employee will not use
or disclose any Proprietary Information or anything relating to it without the written consent of the Company except as may be necessary in the ordinary course of performing the Position hereunder. 

 

	 	16.2.	Non-Compete and Non-Solicitation 

 The Employee hereby covenants that throughout the term
of the Agreement and for a period of six (6) months following the effective date of termination of the Employee’s employment (for any reason): 
  

	 	16.2.1.	The Employee will not, directly or indirectly, be employed by or provide any services to (whether as an employee, independent contractor, shareholder, or partner) a Competing Company. For purposes herein,
“Competing Company” means a company, in Israel or abroad, which engages in the field of agrochemicals, seeds, plant-breeding, and plant genetics. 

  
 6 

	 	16.2.2.	The Employee will not offer, solicit, interfere with and/or endeavor to entice away from the Company, any person, firm or company with whom the Company have any contractual and/or commercial relationship of whatsoever
nature, existing or under negotiation on or before the effective date of termination of the Employee’s employment with the Company. 

  

	 	16.2.3.	The Employee acknowledges that the Company, when determining the Employee’s high Salary and benefits took into account the obligations set forth in this Section 16.2. 

 

	 	16.3.	Intellectual Property 

 The Employee acknowledges that any invention, improvement, or
developments, resulting from the Employee’s employment with the Company (including any employment period before the term of this Agreement) and/or developed during such employment shall be the property of the Company, and the Employee waives
all rights and claims in connection therewith. In the event that the Company wishes to protect any such inventions, the Employee will cooperate with the Company, on Company’s account, as requested including after the termination date of
employment at times agreed with the Employee. 
  

	 	16.4.	Survival 

  

	 	16.4.1.	The provisions of this Section 16 shall survive termination of this Agreement and shall be and remain in full force and effect at all times thereafter. 

 

	 	16.4.2.	The Employee specifically acknowledges, stipulates and agrees that the protective covenants are reasonable under the circumstances and necessary to protect the goodwill, property and Proprietary Information of the
Company, and the operations and business of the Company and do not impose a greater restraint than is necessary to protect the goodwill or other business interests of the Company. Nevertheless, if any of the restrictions set forth herein are found
by a court having jurisdiction to be unreasonable or overly-broad as to geographic area, scope or time or to be otherwise unenforceable, the parties hereto intend for the restrictions set forth herein to be reformed, modified and redefined by such
court so as to be reasonable and enforceable and, as so modified by such court, to be fully enforced. 

  

	17.	Insurance and Indemnification 

 The Company shall insure the Employee in a
Directors and Officers’ Insurance as in effect from time to time in the Company for other officers in the Company. In addition, the Company undertakes to exempt from liability towards it and indemnify and/or compensate the Employee against all
claims filed against him in his capacity as an officer in the Company in accordance with the Remuneration Policy and the indemnification and/or compensation terms as in effect from time to time in the Company and subject to applicable law. 

 

	18.	General Provisions 

  

	 	18.1.	The validity of this Agreement is subject to the receipt of all the required approvals of the Company’s organs, according to the Company Articles of Association and applicable law. 

 

	 	18.2.	All of the payments and benefits provided to the Employee under this Agreement are gross amounts and shall be subject to the withholding of all applicable taxes and deductions required by any applicable law unless
otherwise stated in this Agreement. 

  

	 	18.3.	This Agreement and the Employee’s employment by the Company shall be governed by and construed in accordance with the laws of Israel. 

 

	 	18.4.	The Company’s failure or delay in enforcing any of the provisions of this Agreement shall not, in any way, be construed as a waiver of any such provisions, or prevent the Company thereafter from enforcing each and
every other provision of this Agreement which were previously not enforced. 

  

	 	18.5.	 Notices given hereunder shall be in writing and shall be deemed to have been duly given on the date of personal delivery, on the date of postmark if
mailed by certified or registered mail, or on 

  
 7 

	 	
the date sent by facsimile upon transmission and electronic confirmation of receipt or (if transmitted and received on a non-business day) on the first business day following transmission and
electronic confirmation of receipt, or via e-mail, addressed as set forth above or such other address as either party may designate to the other in accordance with the aforesaid procedure. 

IN WITNESS WHEREOF, the parties hereto have hereby duly executed this Agreement on the day and year first set forth above. 

 

											
	(Signature)	 	/s/ Aviram Lahav	 		 	(Signature)	 	/s/ Chen Lichtenstein
		 		 	  
	 		 		 	  

			
	ADAMA Agricultural Solutions Ltd	 		 	Chen Lichtenstein
					
	By:	 	 Aviram Lahav +
	 		 		 	
					
	Title:	 	 CFO +
	 		 		 	

  
 8 

 Schedule A 

  
 9 

 Exhibit A 

Terms of Employment 
 It is
proposed to approve Mr. Lichtenstein’s terms of office and employment in his position as President and CEO of the Company, as listed below: 
  

	1.	Monthly Salary - Mr. Lichtenstein will be entitled to monthly salary in the gross amount of NIS 153,686 (the “Monthly Salary”) which will be linked to the Israeli Consumer Price Index
(hereinafter: the “CPI”) and will be adjusted on a monthly basis based on the CPI known on the date of payment. If the CPI is negative, the Salary will not decrease; however, any negative balance will be set-off against the
subsequent positive balance (or the subsequent positive balances, if required). 

  

	2.	Vehicle maintenance cost and related expenses - The Company shall make a company car available to Mr. Lichtenstein with all maintenance and usage expenses paid by the Company. The Company shall bear the tax
associated with the Company Car benefit under any applicable. 

  

	3.	Associated terms, reimbursement of expenses - Mr. Lichtenstein’s remuneration package includes associated terms that are standard in the market, such as pension deductions, life insurance, health
insurance, social rights and benefits, mobile phone (including grossing up the tax for it), Internet and landline phone, travel expenses, hosting expenses and accommodation abroad and in Israel, subscription to daily newspapers, seminars and
courses, holiday gift, vacation, medical examinations, secretarial and office services and other expenses. 

  

	4.	Annual bonus – Mr. Lichtenstein will be entitled to an annual bonus in the amount determined by the Remuneration Committee, the Board of Directors and the shareholders of the Company in accordance and
subject to the maximum annual bonus and ratio between annual bonus and annual base salary of officers set in the Company’s Remuneration Policy, as may be amended from time to time and subject to the provisions of the applicable laws as in
effect from time to time. Mr. Lichtenstein shall be entitled to additional special bonuses subject to the terms of the Remuneration Policy and to the resolution of the Company’s organs. 

 

	5.	Equity-based compensation - Mr. Lichtenstein will be entitled to options, as well as a long-term cash incentive in accordance with the Company’s Long Term Incentive Plan and subject to the Remuneration
Policy of the Company. 

	6.	Annual Leave - Mr. Lichtenstein shall be entitled to annual leave of 24 working days per year. Redemption of vacation days will only occur at the end of the employment relations and shall be calculated on
the basis of 130% of the Salary (calculated to take into account the cost of the social benefits). Mr. Lichtenstein may accumulate up to 50 days of annual leave in any given time. Any annual leave exceeding such limit, shall be erased by the
Company and shall not be paid out on termination. 

  

	7.	The period of advance notice – Each Party may terminate the employment by providing prior written notice to the other party of three (3) months (the “Prior Notice Period”).

  

	8.	The Company may, in its sole discretion terminate Mr. Lichtenstein employment without Prior Notice, by giving Mr. Lichtenstein notice together with payment in lieu of all or part of the Prior Notice Period. If
the Company was the party who initiated the termination of employment and it decides to pay in lieu of the Prior Notice Period, the payment in lieu of the Prior Notice Period will be calculated on the basis of 130% of the
Mr. Lichtenstein’s Salary. 

  

	9.	Acclimation Bonus - Upon termination of employment, Mr. Lichtenstein shall be entitled to a one-time acclimation bonus at the amount of 6 times 130% of his Monthly Salary, in accordance with the Remuneration
Policy of the Company. 

  

	10.	Non-Compete and Non Solicitation – Throughout the term of his employment agreement and for a period of six (6) months following the termination of his employment, Mr. Lichtenstein shall not be
employed or provide any services to a competitor, and shall not solicit away from the company any person or firm with whom the company has a commercial relationship. 

 

	11.	Insurance and Indemnification - The Company shall insure Mr. Lichtenstein in a Directors’ and Officers’ Insurance as in effect from time to time in the Company for other officers in the Company. In
addition, the Company will exempt from liability towards it and indemnify and/or compensate Mr. Lichtenstein against all claims filed against him in his capacity as an officer in the Company in accordance with the Articles of Association of the
Company, the Remuneration Policy and the indemnification and/or compensation terms as in effect from time to time in the Company and subject to applicable law.

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