Document:

ex1014.htm

    Exhibit
10.14

     

    Addendum
to An Investment Agreement Dated 13.11.2005

    

    Signed in
______, on the ___, of November, 2006

    

    Between

    

    
      	
              1.  

            	
              Pimi
      Marion Holdings Ltd ("The Company")

            

    

    
      	
              2.  

            	
              Nimrod
      Ben-Yehuda

            

    

    
      	
              3.  

            	
              Omdan
      Consulting and Instructing Ltd

            
	 	(Jointly
      and severally: "The
      Shareholders")

    

     

    
      
        	 	 	 On the first
      Party
	 	 And Between	 
	 	 	 
	 	 Alon Carmel
      ("Alon")	 
	 	 	 
	 	 And Between	 On the second
      Party
	 	 	 
	 	 JNS Capital LLC
      ("JNS")	 On the
      third  Party
	 	 	 
	 	 	 
	 	 	 

      

       

    

    
      	
              Whereas

            	
              On
      the 13th
      of November 2005, the parties have signed an Investment Agreement
      (hereinafter: "The
      Agreement"), under which Alon and JNS undertook to invest the sum
      of US$ 900,002, against the issuance of 2 Management Shares and 120,000
      Ordinary Shares (hereinafter: "The Investment");
      and

            

    

     

    
      	
              Whereas

            	
              Until
      the execution of this Addendum, Alon  invested US$ 485,000 and
      JNS invested US$ 300,000 in the Company and the Company has issued 24,000
      Ordinary Shares to Alon and 24,000 Ordinary Shares to JNS on account of
      the shares that they are entitled to pursuant to The Agreement and their
      respective investments; and

            

    

     

    
      	
              Whereas

            	
              The
      Company is in need for further investment in order to finance its
      activities; and

            

    

     

    
      	
              Whereas

            	
              Alon
      has agreed to invest an additional sum in the Company above the Investment
      on certain conditions (hereinafter: "The Additional
      Investment"); and

            

    

     

    
      	
              Whereas

            	
              In
      order to induce Alon to further invest in The Company, the parties have
      agreed to improve the conditions of The Investment and to modify The
      Agreement, in accordance with the terms of this
  Addendum;

            

    

     

    
      	
               
      

            	
              Now
      therefore the Parties have agreed as
follows:

            

    

     

    
      	
              1.  

            	
              The
      Preamble to this Addendum is one and integral part of
  it.

            

    

     

    
      	
              2.  

            	
              JNS
      shall be released from any further obligation to invest in The Company.
      Upon signing of this Addendum, The Company shall issue to JNS, pursuant to
      the below said, an additional amount of shares reflecting its investment
      of US$ 300,000 (i.e. 40,000 shares) in The Company as well as 1 management
      share.

            

    

     

     

    
      
        
        

      

      
        1

        
          

        

      

      
        
        

      

    

     

     

    
      	
              3.  

            	
              Alon
      and JNS shall be entitled, subject to the completion of The Investment by
      Alon as set forth in The Agreement, to receive 120,000 Preferred Shares of
      0.01 NIS each, of the Company instead of 120,000 Ordinary Shares of 0.01
      NIS each. The shares already issued shall be converted. The shares will be
      issued to Alon and JNS respectively to their investment in The Company.
      The "Preferred
      Shares"- shall have all rights attached to the Ordinary Shares and
      in addition will entitle their holders to priority in the distribution of
      the company assets and/or  dividends in case of liquidation of
      the Company or termination of its business, over any other shareholder of
      the Company in a way that until the holder of a Preferred Share will
      receive the full amount of his Investment in The Company as dividends or
      as proceeds of the sale of the Company's assets no other shareholder will
      receive any dividend in
liquidation.

            

    

     

    
      	
              4.  

            	
              3.  The
      Company shall issue to, Adv. Amos Hacmun, 1 Decisive Share of 0.01 NIS.
      The "Decisive
      Share"- will entitle its holder to participate in The Company`s
      Shareholders assemblies and/or The Board of Directors meetings upon the
      request of any Director or Shareholder as the case may be, and in a case
      of a dead-lock situation only, the Decisive Share holder`s vote shall be
      the overbalancing vote. In case of a board decision only, the Decisive
      Share holder shall use its discretion and vote as what he considers as the
      benefit of The Company.

            

    

     

    The
parties hereby acknowledge and agree that Adv. Amos Hacmun does not act as any
kind of trustee, and that he as well as Heskia-Hacmun Law Firm provided and/or
may provide in the future legal services and represent Alon and/or JNS and/or
eNitiatives – New Business Architects Ltd. and that they may continue to
represent them and/or have any other business relations with same without any
limitation or duty to disclose same to any party to this Addendum, including the
representation of Alon and/or JNS in case of a future dispute between any of the
parties to this Addendum. The parties further confirm that they have been
notified that Adv. Amos Hacmun and/or a related company have a shareholding
interest in eNitiatives – New Business Architects Ltd.

     

    The
parties further and irrevocably agree that such relations shall not be
considered in any event as neither relations of a trustee with The Company and
The Shareholders nor as a conflict of interest and they explicitly and
irrevocably waive any argument and claim against Adv. Hacmun and/or
Heskia-Hacmun Law Firm and/or Alon and/or JNS and/or Enitiatives – New Business
Architects Ltd. and/or whom on their behalf in this matter or any matter
resulting thereof.

     

    
      	
              5.  

            	
              The
      Shareholders undertake to convene a special assembly for the purpose of
      amending the Company's Article Of Association in accordance with the above
      Paragraphs 2 and 3, and to convert the 48,000 Ordinary Shares that were
      issued to Alon and JNS, to 48,000 Preferred Shares. The assembly
      resolution shall be made pursuant to the requirements of part 6 of chapter
      5 of The Companies Law [5759-1999].

            

    

     

     

     

    
      
        
        

      

      
        2

        
          

        

      

      
        
        

      

    

     

     

    
      	
              6.  

            	
              Alon
      undertakes to transfer to the Company US$ 215,000, from which US$ 115,000
      is the balance of  The Investment and US$ 100,000 is an
      "Additional Investment" :

            

    

     

    
      	
              a.  

            	
              The
      sum of US$ 15,000 will be transferred to The Company's bank account
      immediately after this Addendum has been signed by the
      Parties.

            

    

     

    
      	
              b.  

            	
              The
      sum of US$ 100,000 shall be transferred to The Company's bank account no
      later than 01.01.2007.

            

    

     

    
      	
              c.  

            	
              The
      sum of US$ 100,000 shall be transferred to The Company's bank account no
      later than 01.03.2007.

            

    

     

    Notwithstanding
the above, the Company may waive to Alon the obligation to invest US$ 80,000 out
of the sum mentioned in clause (c) of this section, in case of improvement in
its financial situation or, in case there is another investor who is ready to
invest in the Company a sum of at least US$ 80,000 at a valuation of US$
3,000,000 (pre-money) and provided such investor will commit himself to invest
in the Company before 1.2. 2007.

     

    
      	
              7.  

            	
              The
      parties agree, that against each installment of US$ 20,000 by Alon, of the
      Additional Investment, Alon shall be entitled to receive and the Company
      shall issue to Alon such amount of Preferred Shares of 0.01 NIS each
      reflecting 1% of The Company's issued share capital (not including
      management shares) as shall be after the completion of The Investment and
      the Additional Investment.

            

    

     

    In
addition any other Shareholder has the right until the 1.2.2007 to notify the
Company on his willingness to participate in the Additional Investment in
accordance with his prorated his shareholding in the Company under the same
terms and conditions as described in this section above. In such a case the
investment obligation of Alon will be reduced accordingly provided that such
shareholder has transferred his share in the Additional Investment until the
1st
of March 2007.

     

    Alon and
JNS and any other Shareholder who have notified and has made the investment as
described above , shall each respectively be entitled to full protection against
dilution due to the issuance of the Preferred Shares for the Additional
Investment so that The Company shall issue a corresponding amount of Preferred
Shares of 0.01 NIS to Alon and JNS or to the other Shareholder respectively to
their holdings of The Company's shares as should be after completion of The
Investment.

     

    
      	
              8.  

            	
              The
      Company shall deposit all materials concerning its product intellectual
      property including but not limited to the product formula, ingredients,
      composing, manufacturing process etc, with Heskia-Hacmun Law Firm who
      shall be allowed to release such materials to Alon and JNS in case that
      The Company shall enter liquidation or terminate its business. The above
      shall also apply to any future changes, updates or modifications of the
      said materials.

            

    

     

     

     

    
      
        
        

      

      
        3

        
          

        

      

      
        
        

      

    

    
 

    
      	
              9.  

            	
              Omdan
      Consulting and Instructing Ltd. through Mr. Eitan Shmueli, declares that
      until a new investor will invest in the Company, Sadot & Co`s monthly
      fees in the total amount of US$ 2,000, will be paid as
      follows:

            

    

    
      	
              a.  

            	
              The
      Company shall pay to Sadot & Co. monthly payment of
      US$   1,000.

            
	 	 

    

    
      	
              b.  

            	
              The
      additional monthly payment of US$ 1,000 will be delayed and shall be
      registered as a shareholder loan by Omdan Consulting. The Company shall
      pay the balance of such shareholder loan to Sadot & Co. in accordance
      with its financial ability after a new investment of not less then US$
      500,000 at a evaluation of not less then US$ 3,000,000 (pre-money) will be
      made by a new investor or in case of another event causing The Company to
      receive an income of more then US$ 500,000.

            
	 	 

    

    
      	
              c.  

            	
              It
      is agreed that in case that no new investor will invest in the Company or
      if the Company shall reach liquidation or terminate its business, Sadot
      & Co. will waive their right to such additional monthly
      payment.

            

    

     

    
      	
              10.  

            	
              Mr.
      Nimrod Ben-Yehuda agrees, that until a new investor will invest in the
      Company, his monthly net salary  from The Company shall be
      reduced by 3,000 NIS, which sum will be considered as a loan by Mr.
      Ben-Yehuda to The Company. In addition, Mr. Ben-Yehuda shall present
      receipts documenting all the out of pocket expenses Mr. Ben-Yehuda made
      for and on behalf of The Company (up to an amount of approx. NIS 50,000)
      which shall be considered as a shareholder loan to The Company. The
      Company undertakes to pay the shareholders loan to Mr. Ben-Yehuda in
      accordance with its financial ability after a new investment of not less
      then US$ 500,000 at a evaluation of not less then US$ 3,000,000
      (pre-money) will be made by a new investor or in case of another event
      causing The Company to receive an income of more then
      US$500,000.

            

    

     

    
      	
              11.  

            	
              All
      current investments and/or loans made by Mr. Ben-Yehuda and/or any company
      on his behalf as well as Omdan Consulting and Instructing Ltd., ("Omdan") shall be
      registered in the books of The Company as a shareholder loan which shall
      be paid back in accordance with the financial ability of The Company as
      shall be determined by the board of directors of The Company provided that
      such board decision has been supported by either Alon or the
      representative of JNS, except for Omdan who shall have the right to notify
      the Company until the 1.2.2007 on his willingness to convert its
      shareholder loans at the amount of 70,000 NIS into Preferred Shares of the
      Company  in accordance with the terms of section 7
      above.

            

    

     

    
      	
              12.  

            	
              Immediately
      after signature of this Addendum eNitiatives loan to the Company for
      services in the amount of US$ 14,000 will be converted
      into  Preferred Shares at the same valuation of US$20000 for
      each 1% of the Company capital. If eNitative will execute his right under
      section 7 above the Company will convert its existing Regular Shares into
      Preferred Shares.

            

    

     

     

    
      
        
        

      

      
        4

        
          

        

      

      
        
        

      

    

    

     

     

    
      	
              13.  

            	
              All
      other provisions of The Agreement which were not modified under this
      Addendum will stay valid and in full
force.

            

    

     

    
      	
              14.  

            	
              This
      Addendum shall take effect as of the moment when signed by both Parties.
      However, in case that by March 31, 2007: (i) The Company shall meet its
      targets according to the Business Plan (Appendix "A" of  The
      Agreement and under the applicable terms of the Agreement); or (ii) The
      Company shall raise a new investment of not less then US$ 500,000 at an
      evaluation exceeding US$ 3,000,000 (pre-money); or (iii) in case of
      another event causing The Company to receive an income of more then US$
      500,000, this Addendum will be cancelled, and all changes or modification
      made in accordance with this Addendum, shall be null and void save for the
      Shares acquired by Alon and JNS or any other shareholders due to the
      execution of any part of the Additional Investment or under sections 7 and
      11 of this Addendum above. In such case all Preferred Shares so acquired
      shall be converted into Regular
Shares

            

    

     

    
      	
              15.  

            	
              The
      Company shall promptly and timely make all mandatory payments to the
      authorities and shall not obtain any credits and/or loans, whether from
      banks or other lenders without the explicit decision of the board of
      directors of The Company and provided that Alon or the director on behalf
      of JNS have supported such board
decision.

            

    

     

    
      	
              16.  

            	
              The
      Company shall fully reimburse Alon's legal expenses in connection with
      this Addendum.

            

    

     

    
      	
              17.  

            	
              The
      Agreement provisions shall be considered and interpreted in accordance
      with the provisions of this
Addendum.

            

    

     

    
      	
              18.  

            	
              In
      case of any discrepancies between provisions of this Addendum and other
      provisions of The Agreement, the provisions of this Addendum shall
      prevail.

            

    

     

     

    

    
      
        
        

      

      
        5

        
          

        

      

      
        
        

      

    

     

     

    In
witness Whereof the Parties have signed this Addendum on the
_______

     

     

    

    
      
        
          
            	Pimi Marion Holdings,
      Ltd	 	 	 	 
	 	 	 	 	 
	
                     

                  	 	 	
                     

                  	 
	
                    By:
      Eitan Shmeuli

                  	 	 	
                     

                  	 
	
                    Title:
      Director

                  	 	 	
                     

                  	 

          

        

      

    

    

    
      
        
          	 Omdan Education and Instructing
      Ltd  	 	 	Nimrod Ben
    Yehuda	 
	 	 	 	 	 
	
                   

                	 	 	
                   

                	 
	
                  By:
      Eitan Shmeuli

                	 	 	
                   

                	 
	
                   

                	 	 	
                   

                	 

        

      

    
      
        
          	JNS Capital
      LLC  	 	 	Alon Carmel	 
	 	 	 	 	 
	
                  By:

                	 	 	
                   

                	 
	
                  Name:
      Joe Shapira

                	 	 	
                   

                	 
	
                  Title:   Managing
      Member

                	 	 	
                   

                	 

        

      

    

              

    
      
        
          
            
              	Agreed
      to by:	 	 	 	 
	 	 	 	 	 
	eNitiatives – New Business
      Architects Ltd.	 	 	 	 
	 	 	 	 	 
	
                      By:

                    	 	 	
                       

                    	 
	
                      Name:
      Reuven Marko

                    	 	 	
                       

                    	 
	
                      
                        Title:
      General Manager

                      

                    	 	 	
                       

                    	 

            

          

        

      

    

     

     

    6ex1015.htm

    Exhibit 10.15

     

     

    
      	
               
      

            	
              OVERSEAS
      MARKET DEVELOPMENT CONSULTANCY
  AGREEMENT

            

    

     

    
      	
               
      

            	
              Executed
      on 9th January 2008 in Ramat Gan

            

    

     

     

    
      	
              BETWEEN:

            	
              PIMI
      MARION HOLDINGS LTD, PC 513497123

            

    

     

    
      	
               
      

            	
              POB
      117 Hotzot Alonim, Kibbutz Alonim

            

    

     

    
      	
               
      

            	
              (hereinafter
      referred to as “the
      Customer”)

            

    

     

    
      	
              AND:

            	
              THE
      CENTER FOR POTATO RESEARCH IN A WARM CLIMATE LTD, PC
    512553496

            

    

     

    
      	
               
      

            	
              POB
      515 Ofakim 80300

            

    

     

    
      	
               
      

            	
              (hereinafter
      referred to as “the
      Consultant”)

            

    

     

     

    
      	
              WHEREAS

            	
              the
      Customer engages in the manufacture and marketing of stabilised hydrogen
      peroxide and wishes to obtain professional advice on the development of
      markets for the application of the substance in the storage of potatoes,
      or any other use of potatoes
abroad;

            

    

     

    
      	
              AND
      WHEREAS

            	
              the
      Consultant is a professional entity with expertise on the subject of
      potatoes and wishes to provide professional advice, and to fill special
      requests for training on the above
subject;

            

    

     

     

    
      	
               
      

            	
              THE
      PARTIES HAVE AGREED ON THE COLLABORATION BETWEEN
  THEM.

            

    

     

     

    
      	
               
      

            	
              Below
      are the details of the agreement:

            

    

     

    
      	
              1.

            	
              The
      Consultant shall advice the Customer on matters relating to the use of
      stabilised hydrogen peroxide in the storage of potatoes, and other uses
      (such as: application to seed potatoes) in various countries (see
      [illegible] work plan). During the consultancy, the parties shall attend
      documented work meetings once a month. Once a quarter, the Consultant
      shall present the findings, achievements and plans to the Customer’s board
      of directors, and shall give professional training to the agents and
      professionals in Israel and
elsewhere.

            

    

     

     

    
      
        
        

      

      
        1

        
          

        

      

      
        
        

      

    

     

     

     

    
      	
              2.

            	
              The
      consultancy period is for three years, as of 1st January 2008, and may be
      extended.

            

    

     

    
      	
              3.

            	
              It
      is agreed that the parties may terminate the contract at any time on three
      months’ notice.

            

    

     

    
      	
              4.

            	
              Consideration

            

    

     

    
      	
               
      

            	
              4.1

            	
              Consultancy
      fee: the Customer shall pay the Consultant professional fees in an
      amount equal to NIS 10,000 a month plus due VAT, against a tax invoice.
      The payments shall be made once a month (current + 14 days). This amount
      shall be paid until a capital induction that shall take place in April
      2008. After the capital induction, the monthly consultancy fee shall be
      NIS 12,000 a month on the aforesaid
  terms.

            

    

     

    
      	
               
      

            	
              The
      consultancy fee includes traveling and communication expenses in Israel
      alone.

            

    

     

    
      	
               
      

            	
              4.2

            	
              Payment
      for activity overseas: NIS 2,500 per day’s work; after the
      induction, NIS 3,000 per day’s
  work.

            

    

     

    
      	
               
      

            	
              4.3

            	
              Coverage
      of overseas expenses: the Customer shall cover all the Consultant’s
      reasonable expenses.

            

    

     

    
      	
               
      

            	
              4.4

            	
              Flights:
      to Europe tourist class, and outside Europe business
      class.

            

    

     

    
      	
               
      

            	
              4.5

            	
              Hotels:
      reasonable subsistence expenses, by arrangement with the
      Customer.

            

    

     

    
      	
               
      

            	
              4.5

            	
              Traveling
      and communication: reasonable expenses (hired car,
      medium).

            

    

     

    Payment
for the Consultant’s expenses shall be added to the tax invoice submitted once a
month.

     

    
      	
              5.

            	
              The
      dates of planned trips shall be determined once a quarter, at the time of
      the meeting with the board of
directors.

            

    

     

     

     

    
      
        
        

      

      
        2

        
          

        

      

      
        
        

      

    

     

     

    
      	
               
      

            	
              Unplanned
      trips shall be arranged between the parties, so as not to prejudice the
      parties’ routine activity and so as to allow synchronisation with other
      trips to an identical destination.

            

    

     

    
      	
              6.

            	
              Absence
      of employer-employee
relationship

            

    

     

    
      	
               
      

            	
              It
      is expressed that this agreement is an agreement between the Customer and
      an independent contractor of services and does not constitute an
      employment contract, that the Consultant has an independent business for
      the provision of the services and that there is no employer-employee
      relationship, license relationship, agency relationship or partnership
      relations between him and the Customer and/or anyone on its
      behalf.

            

    

     

    
      	
               
      

            	
              It
      is agreed between the parties that if it is determined by any competent
      judicial entity that the relationship between the Customer and the
      Consultant and/or anyone on his behalf in respect of the services is an
      employer-employee relationship, the Consultant shall not be entitled to
      the consideration specified in clause 4 above, but to consideration at a
      rate of only 65% thereof, and he shall immediately repay the Customer any
      amount he has received in excess of the revised consideration as
      aforesaid, plus linkage to the consumer price index and plus interest in
      accordance with the Adjudication of Interest and Linkage Law, 5721-1961
      (the interest and linkage shall be computed as of the date on which the
      Consultant receives any amount until the date on which he actually repays
      it to the Customer).

            

    

     

    
      	
              7.

            	
              The
      parties undertake to maintain confidentiality in respect of the details of
      this agreement. The Customer may present the Consultant as part of its
      team.

            

    

     

    
      	
               
      

            	
              The
      Consultant undertakes confidentiality and non-competition with regard to
      the treatment with stabilised hydrogen peroxide of vegetables and fruits
      for a period of seven years after the contract’s termination. For the
      avoidance of doubt, it is expressed that this does not prevent the
      Consultant from engaging in any other business, so long as it does not
      derogate from the aforesaid.

            

    

     

    
      	
              8.

            	
              The
      Consultant is not promising and is not liable for the success of the
      project or his advice. This liability is imposed on the Customer and/or
      those acting on its behalf. For the avoidance of doubt, the Consultant
      undertakes to make maximum effort in the professional training and
      direction of the Customer for the success of the product’s application and
      sale process.

            

    

     

    
      	
              9.

            	
              In
      destination countries in which the Consultant is an actual partner in
      bringing about the use of the Customer’s products – the Consultant shall
      be entitled to royalties of 1% of sales for the first four years of
      activity.

            

    

     

     

    
      
        
        

      

      
        3

        
          

        

      

      
        
        

      

    

     

     

     

    
      	
              10.

            	
              The
      Consultant shall serve as professional advisor to the Customer’s board of
      directors. Nonetheless, the Consultant shall not be liable for the
      advice’s implementation by the Customer. The Company’s board of directors
      shall not have any claim against the Consultant with regard to the
      consequences of the professional
advice.

            

    

     

    
      	
              11.

            	
              At
      the request of the Customer’s CEO, the Consultant shall actively
      participate in the presentation of the Customer’s applications or products
      to customers or investors overseas, with customary professional
      integrity.

            

    

     

    
      	
              12.

            	
              Notice
      sent by registered mail to any party in accordance with his above address
      shall be deemed received by him.

            

    

     

     

    
      	
               
      

            	
              As
      witness the hands of the parties:

            

    

     

     

    
      
        
          	(Signed)	 	 	(Signed
      and stamped)	 
	 	 	 	 	 
	
                   

                	 	 	
                   

                	 
	
                  The Center for Potato
      Research    

                	 	 	
                  Pimi Marion Holdings
      Ltd

                	 
	
                  in a Warm Climate
      Ltd

                	 	 	
                   

                	 

        

      

    

     

     

     

     

    4

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