Document:

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                                                                   Exhibit 10.11

           PREDIX PHARMACEUTICALS HOLDINGS, INC. EMPLOYMENT AGREEMENT

            EMPLOYMENT AGREEMENT, dated as of the 23rd of November, 2003, (the
"Effective Date") between Predix Pharmaceuticals Holdings, Inc., a Delaware
corporation with its principal place of business at 10 K Gill Street, Woburn, MA
01801 (the "Company"), and Mr. Chen Schor residing at [ADDRESS] (the
"Employee").

                                   WITNESSETH:

            WHEREAS, the Company desires to employ the Employee as Chief
Business Officer ("CBO") of Predix Pharmaceuticals, Inc, and the Employee
desires to accept such employment, all on the terms and conditions specified
herein; and

            WHEREAS, the Employee and the Company desire to set forth in writing
all of their respective duties, rights and obligations with respect to the
Employee's employment by the Company; and

            NOW, THEREFORE, in consideration of the foregoing and of the mutual
covenants and obligations hereinafter set forth, the parties hereto, intending
to be legally bound, hereby agree as follows:

            1. Employment. The Company hereby offers to employ the Employee, and
the Employee hereby accepts employment by the Company, in the capacity and upon
the terms and conditions hereinafter set forth. The Date of Employment shall be
no later than 1 March, 2004 and this agreement shall be predicated on the
Company being able to obtain such Visas as are required for the Employee to work
in the United States of America as an employee of the Company, and the company
undertakes to use its reasonable endeavors to obtain such Visas so that they are
effective prior to I" March 2004.

            2. Duties. The Employee shall serve as the CBO for the Company and
any affiliate or subsidiary of the Company determined by the Company's Board of
Directors, and shall perform such duties, functions and responsibilities as are
associated with and incident to that position and as the Company may, from time
to time, require of him. The Employee shall report to the President and CEO of
the Company. The Employee shall serve the Company faithfully, conscientiously
and to the best of the Employee's ability and shall promote the interests and
reputation of the Company under direction of the President and CEO. Unless
prevented by sickness or disability, the Employee shall devote all of the
Employee's time, attention, knowledge, energy and skills, during normal working
hours, and at such other times as the Employee's duties may require, to the
duties of the Employee's employment. The principal place of employment of the
Employee shall be at Employer's Woburn, MA area office and/or such other
location as shall be necessary for the Employee to discharge the Employee's
duties hereunder. The Employee acknowledges that in the course of employment the
Employee may be required, from time to time, to travel on behalf of the Company.
The Company recognizes that the Employee will continue to maintain his
relationships with venture capital funds, investment entities

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or investment banks and may from time to time consult to them on specific
issues, provided that this will not interfere with the Employee's fulfillment of
his duties and obligations to the Company, its affiliates and subsidiaries as
outlined in this Agreement or otherwise.

The Employee's duties shall include but not be limited to the following: (1)
report to the CEO and President; (2) participate as a equal member of the
Executive Team, (3) with the CEO, lead efforts to raise the next and subsequent
equity rounds and to develop the business of the Company in North America,
and/or Europe and/or Israel and/or the Far East, (4) be part of the team
negotiating the outlicensing of the Company's proprietary compounds, (5) act as
the Secretary of the Company's Board of Directors, and as a Observer to the
Board of Directors, (6) Be responsible, supervise, manage and maintain all the
financial and legal aspects and duties of the Company including but not limited
to those specified in the Board Minutes of the Meeting dated 11th August 2003.

            3. Compensation and Benefits. As full and complete compensation for
the Employee's execution and delivery of this Agreement and performance of any
services hereunder, the Company shall pay, grant or provide the Employee, and
the Employee agrees to accept, the following compensation and benefits, which
shall be paid by the Company or any of its affiliates or subsidiaries designated
by the Company:

                  a. Base Salary. With effect from the Date of Employment the
Company shall pay the Employee a base salary at an annual rate of $200,000.00
payable on the 15th and last day of every month, in accordance with the
Company's customary payroll practices that may be adopted or modified from time
to time. On an annual basis or at such other times as the Company may determine,
the Company will review the Employee's performance and determine whether, in its
sole discretion, the Company will increase (but not decrease, except that such
salary may be decreased if in connection with a decrease in the salaries of all
similarly situated Company executives) the Employee's base salary.

                  b. Bonus. The Employee may be eligible for bonuses from the
Company during the course of his employment. The timing and amount of such
bonus(es), if any, shall be in the sole discretion of the Company. The criteria
to be used in determining any such bonus may include, in the Company's
discretion, one or more of the following criteria: individual performance,
performance of specific projects, and the Company's performance. The Employee
will also be eligible for the following specific bonuses: (i) after the
Effective Date, the Employee will be eligible for a one-time special bonus of
$20,000.00, to be paid on January 1st 2004 (the Signing Bonus); and (ii) during
the twelve month period ending July 31, 2004, the Employee will be eligible for
a performance based bonus, to be based upon the Company and the Employee meeting
milestones to be set by the Board of Directors. The target amount of the bonus
in subsection (ii) shall be $40,000.00 prorated for the number of months of
employment, although the Board in the exercise of its sole discretion shall
determine the actual bonus payment.

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                  c. Fringe Benefits. The Company shall afford the opportunity
to participate in any health care, dental, disability insurance, retirement,
savings and any other employee benefits plans, policies or arrangements which
the Company maintains for its employees in accordance with the written terms of
such plans, policies or arrangements, so long as the Employee meets all
applicable eligibility requirements. Nothing in this Agreement shall require the
Company or its affiliates to establish, maintain or continue any benefit plans,
policies or arrangements or restrict the right of the Company or any of its
affiliates to amend, modify or terminate any such benefit plan, policy or
arrangement. In addition to the above-mentioned benefit, the Company agrees to
provide assistance to the Employee by supporting and sponsoring an application
for permanent residency to be made by the Employee.

                  d. Stock and Stock Option Arrangements. All of the Employee's
stock and stock options shall be governed by the applicable stock plan and stock
option or stock agreement, which provisions shall supersede any statements in
this section.

Subject to the approval of the Compensation Committee of the Company's Board of
Directors, the Company shall grant to the Employee an option to purchase shares
of the Company's common stock. Each grant shall be pursuant to the terms and
conditions of the Predix Pharmaceuticals Holdings, Inc. 2003 Stock Incentive
Plan and the Employee's execution of a standard Predix Pharmaceuticals Stock
Option Agreement in the form provided to the Employee by the Company. The
Employee acknowledges having received a copy of the Predix Pharmaceuticals
Holdings, Inc. 2003 Stock Incentive Plan and unexecuted Stock Option Agreements.

The Employee will be granted 350,000 options to purchase Predix Holdings A
Common shares, vesting over 4 years from the Date of Employment with an exercise
price of $0.10 per share. These options will be governed by the Predix
Pharmaceuticals Holdings, Inc. 2003 Stock Incentive Plan and the related option
agreement. The deal valuation per share of A Common Stock is $0.10.

                  e. Expenses. The Employee shall be entitled to reimbursement
or payment of reasonable business expenses in accordance with the Company's
policies, as the same may be amended from time to time in the Company's sole
discretion, following the Employee's submission of appropriate receipts, bills
and/or expense reports to the Company in accordance with such policies.

                  f. Relocation Expenses. The Employee shall be entitled to
reimbursement or payment of reasonable relocation expenses not to exceed $25,000
in accordance with the Company's policies, as the same may be amended from time
to time in the Company's sole discretion, following the Employee's submission of
appropriate receipts, bills and/or expense reports to the Company in accordance
with such policies. Any expense including but not limited to the purchase of
furniture or electrical appliances that is not in accordance with the Company's
relocation policies will be reimbursed and regarded as an increase of the
Signing Bonus as long as the maximum reimbursement per this section 3(f) shall
not exceed $25,000 in total. The Company shall also pay expenses

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in relation to obtaining necessary visa's for the employee to work for the
company in the US.

                  g. Time Off. The Employee shall be entitled to twenty (20) WYN
(What You Need) days per calendar year, without loss or diminution of
compensation. These WYN days shall accrue at the rate of 1.67 WYN days per full
month of service, commencing with the Effective Date of this Agreement. Such WYN
days shall be taken at such time or times consistent with the needs of the
Company's business and in accordance with the Company's policies. The Employee
shall further be entitled to the number of paid holidays, and leaves in
accordance with the Company's policies as such policies may be amended from time
to time or terminated in the Company's sole discretion. The Company currently
allows for eleven (11) paid holidays per calendar year.

            4. Non-Competition, Confidentiality, Discoveries and Works:

                  a. Non-Competition: During the period of the Employee's
employment at the Company and for six (6) months following the termination, for
any reason, of the Employee's employment, the Employee agrees not to compete in
any manner, either directly or indirectly, whether for compensation or
otherwise, with the Company, or to assist any other person or entity to compete
with the Company either:

                        (i) by producing, developing or marketing, or assisting
others to produce, develop or market, or

                        (ii) by accepting employment from or having any other
relationship (including, without limitation, through owning, managing,
operating, controlling or consulting) with any entity: (Y) which produces,
develops or markets, a product, process, or service which is competitive with
those products, processes, or services of the Company, whether existing or
planned for in the future; or (Z) on which the Employee has worked, or
concerning which the Employee has in any manner acquired knowledge of or had
access to Confidential Information (as defined in Section 4(e)(iii) below),
during the three (3) years preceding termination of the Employee's employment.
Except that the Employee may have beneficial ownership of less than 1% of the
outstanding amount of any class of securities listed on a national securities
exchange or quoted on an inter-dealer quotation system, of such a company. This
section 4(a) shall not apply to an investment entity or a venture capital fund
or an investment bank.

                  b. Non-Solicitation: During the period of the Employee's
employment at the Company and for twelve (12) months following the termination,
for any reason, of the Employee's employment, the Employee agrees that the
Employee will not, either on the Employee's own behalf or on behalf of any other
person or entity (other than for the benefit of the Company), directly or
indirectly, (i) solicit any person or entity that is a customer of the Company,
or has been a customer of the Company during the prior twelve (12) months, to
purchase any products or services the Company provides to the customer, or (ii)
interfere with any of the Company's business relationships.

                  c. No-Hire: During the period of the Employee's employment at
the Company and for twelve (12) months following the termination, for any
reason, of

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the Employee's employment, the Employee agrees that the Employee will not,
either on the Employee's own behalf or on behalf of any other person or entity,
directly or indirectly, hire, solicit or encourage to leave the employ of or
engagement by the Company any person who is then an employee or contractor of
the Company or who was an employee or contractor of the Company within six (6)
months of the date of such hiring, soliciting, or encouragement to leave the
Company.

                  d. Geographic Scope: The foregoing restrictions shall apply in
the "Restricted Area" which means:

                        (i) any competitive business anywhere in the world,
given the nature of the Company's business and certain accounts of the Company
are national and international in scope and are not dependent on the geographic
location of the Employee personnel or the business by which they are employed,
and

                        (ii) any location, storefront, address or place of
business where a Covered Customer is present and available for solicitation.

The Employee will not circumvent the purpose of any restriction contained in
Sections 4(a), 4(b) or 4(c) by engaging in business outside the geographic
region covered by the above definition through remote means like telephone,
correspondence or computerized communication. "Covered Customer" means those
customers, entities and/or persons who did business with the Company and that
the Employee either (x) received Confidential Information about in the course of
his/her duties, (y) had contact with within the last twenty-four (24) month
period of employment by the Company, or (z) supervised contact with within the
last twenty-four (24) month period of employment with the Company.

                  e. Confidentiality:

                        (i) During the period of the Employee's employment at
the Company and for all time following the termination, for any reason, of the
Employee's employment, the Employee shall hold all Confidential Information of
the Company in a fiduciary capacity and agrees not to take any action which
would constitute or facilitate the Unauthorized use or disclosure of
Confidential Information.

The Employee further agrees to take all reasonable measures to prevent the
Unauthorized use and disclosure of Confidential Information and to prevent
Unauthorized persons or entities from obtaining or using Confidential
Information. The terms "Confidential Information" and "Unauthorized" shall have
the meanings set forth in Sections 4(e)(iii) and (iv) of this Agreement
respectively.

                        (ii) Promptly upon termination, for any reason, of the
Employee's employment with the Company, the Employee agrees to deliver to the
Company all property and materials within the Employee's possession or control
which belong to the Company or which contain Confidential Information.

                        (iii) As used in this Agreement, the term "Confidential
Information" shall mean trade secrets, confidential or proprietary information,
and all

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other information, documents or materials, owned, developed or possessed by the
Company, its parents, subsidiaries or affiliates, their respective predecessors
and successors, whether in tangible or intangible form, that is not generally
known to the public. Confidential Information includes, but is not limited to,
(a) financial information, (b) products, (c) product and service costs, prices,
profits and sales, (d) new business ideas, (e) business strategies, (f) product
and service plans, (g) marketing plans and studies, (h) forecasts, (i) budgets,
(j) projections, (k) computer programs, (1) data bases and the documentation
(and information contained therein), (m) computer access codes and similar
information, (n) software ideas, (o) know-how, technologies, concepts and
designs, (p) research projects and all information connected with research and
development efforts, (q) records, (r) business relationships, methods and
recommendations, (s) existing or prospective client, customer, vendor and
supplier information (including, but not limited to, identities, needs,
transaction histories, volumes, characteristics, agreements, prices, identities
of individual contacts, and spending, preferences or habits), (t) training
manuals and similar materials used by the Company in conducting its business
operations, (u) skills, responsibilities, compensation and personnel files of
Company employees, directors and independent contractors, (v) competitive
analyses, (w) contracts with other parties, and (x) other confidential or
proprietary information that has not been made available to the general public
by the Company's senior management.

                        (iv) As used in this Agreement, the term "Unauthorized"
shall mean: (a) in contravention of the Company's policies or procedures; (b)
otherwise inconsistent with the Company's measures to protect its interests in
the Confidential Information; (c) in contravention of any lawful instruction or
directive, either written or oral, of a Company employee empowered to issue such
instruction or directive; (d) in contravention of any duty existing under law or
contract; or (e) to the detriment of the Company.

                        (v) In the event that the Employee is requested by any
governmental or judicial authority to disclose any Confidential Information, the
Employee shall give the Company prompt notice of such request (including, by
giving the Company a copy of such request if it is in writing), such that the
Company may seek a protective order or other appropriate relief, and in any such
proceeding the Employee shall disclose only so much of the Confidential
Information as is required to be disclosed.

                  f. Discoveries and Works: All discoveries and works made or
conceived by the Employee during and in the course of his/her employment by the
Company, jointly or with others, that relate to the Company's activities shall
be owned by the Company. The terms "discoveries and works" include, by way of
example, all ideas, discoveries, creations, manuscripts and properties,
innovations, improvements, know-how, inventions, designs, developments,
apparatus, techniques, methods, biological processes, cell lines, laboratory
notebooks and formulae, whether or not patentable or copyrightable, including
all rights to obtain, register, perfect and enforce these proprietary interests.
The Employee shall promptly notify and make full disclosure to, and execute and
deliver any documents requested by, the Company to evidence or better assure
title to such discoveries and works by the Company, assist the Company in
obtaining or

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maintaining for itself at its own expense United States and foreign patents,
copyrights, trade secret protection and other protection of any and all such
discoveries and works, and promptly execute, whether during his/her employment
or thereafter, all applications or other endorsements necessary or appropriate
to maintain patents and other rights for the Company and to protect its title
thereto. Any discoveries and works which, within one (1) year after the
termination of the Employee's employment hereunder, are made, disclosed, reduce
to a tangible or written form or description, or are reduced to practice by the
Employee and which pertain to work performed by the Employee while with, and in
his/her capacity as an Employee of, the Company shall, as between the Employee
and the Company presumed to have been made during the Employee's employment by
the Company.

                  g. Representations, Warranties and Acknowledgements

                        (i) The Employee acknowledges that (a) the Company
considers Confidential Information to be commercially and competitively valuable
to the Company and critical to its success; (b) Unauthorized use or disclosure
of Confidential Information would cause irreparable harm to the Company; and (c)
by this Agreement, the Company is taking reasonable steps to protect its
legitimate interests in its Confidential Information.

                        (ii) The Employee also acknowledges the competitive and
proprietary nature of the Company's business operations. The Employee
acknowledges and agrees that a business will be deemed competitive with the
Company if it engages in a line of business in which it performs any of the
services, conducts research, or develops, manufactures or sells any products
provided or offered by the Company or under development by the Company, or any
similar products or products fulfilling the same function, whether or not
similar, in the Field of Interest (such business to be referred to as a
"competitive business"). The term "Field of Interest" currently means discovery
and development of drugs acting on G Protein Coupled Receptors and Ion Channels.
The Employee further understand that the Company may expand the definition of
its Field of Interest at any time by action of its Board of Directors, which new
definition will be binding upon the Employee ten (10) days after written notice
to the Employee of such change.

The Employee further acknowledges that given the nature of the Company's
business, certain accounts of the Company are national and international in
scope and are not dependent on the geographic location of the Employee personnel
or the business by which they are employed.

                        (iii) The Employee represents and warrants to the
Company that he/she is not a party to any agreement, or non-competition or other
covenant or restriction contained in any agreement, commitment, arrangement or
understanding (whether oral or written), that in any way conflicts with or
limits the Employee's ability to commence or continue to render services to the
Company or that would otherwise limit the Employee's ability to perform all
responsibilities in accordance with the terms and subject to the conditions of
the Employee's employment.

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                        (iv) The Employee acknowledges that certain accounts are
national and international in scope and the location of the Company's customers
is not dependent on the geographic location of the Employee or the Company.

                        (v) The Employee consents and agrees that, during the
Employee's employment with Company and thereafter, the Company may review,
audit, intercept, access and disclose all communications created, received or
sent over the electronic mail and internet access system provided by Company
with or without notice to the Employee and that such review, audit,
interception, access, or disclosure may occur during or after working hours. The
Employee further consents and agrees that the Company may, at any time, access
and review the contents of all computers, computer disks, other data storage
equipment and devices, files, desks, drawers, closets, cabinets and work
stations which are either on Company's premises or which are owned or provided
by Company.

                  h. Remedies: In the event of breach or threatened breach by
the Employee of any provision of Section 4 hereof, the Company shall be entitled
to obtain (i) temporary, preliminary and permanent injunctive relief, in each
case without the posting of any bond or other security, (ii) damages and an
equitable accounting of all earnings, profits and other benefits arising from
such breach, or threatened breach, (iii) recovery of all attorney's fees and
costs incurred by the Company in obtaining such relief, (iv) repayment of any
severance benefits paid to the Employee pursuant to this Agreement or any
severance benefit agreement, plan or arrangement of the Company, and (v) any
other legal and equitable relief to which it may be entitled, including any and
all monetary damages which Company may incur as a result of said breach or
threatened breach. The Company may pursue any remedy available, including
declaratory relief, concurrently or consecutively, in any order, and the pursuit
of one such remedy at any time will not be deemed an election of remedies or
waiver of the right to pursue any other remedy.

                  i. Early Resolution Conference: This Agreement is understood
to be clear and enforceable as written and is executed by both parties on that
basis. However, should the Employee later challenge any provision as unclear,
unenforceable, or inapplicable to activity that the Employee intends to engage
in, the Employee will first notify Company in writing and meet with a Company
representative and a neutral mediator (if the Company elects to retain one at
its expense) to discuss resolution of any disputes between the parties. The
Employee will provide this notification at least fourteen (14) days before the
Employee engages in any activity on behalf of a competing business or engages in
other activity that could foreseeably fall within a questioned restriction. The
failure to comply with this requirement shall waive the Employee's right to
challenge the reasonable scope, clarity, applicability, or enforceability of the
Agreement and its restrictions at a later time. All rights of both parties will
be preserved if the Early Resolution Conference requirement is complied with
even if no agreement is reached in the conference.

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            5. Termination of Employment:

                  a. The Employee is an employee at-will, and either the
Employee or the Company may terminate the employment relationship at any time
for any reason with or without Cause (as defined below). The date upon which the
termination of the Employee's employment becomes effective pursuant to this
Agreement shall be referred to herein as the "Termination Date." The Termination
Date shall be the date upon which any of the following events shall occur:

                        (i) the death of the Employee;

                        (ii) the Disability (as defined below) of the Employee;

                        (iii) the Company's delivery of a written notice to the
Employee of a termination of the Employee's employment for Cause (as defined
below);

                        (iv) the Company's delivery of a written notice to the
Employee of a termination of the Employee's employment Without Cause (as defined
below); or

                        (v) resignation by the Employee.

For purposes of this Agreement, the Employee's employment will not be deemed to
have terminated upon a Change in Control (as defined below).

                  b. For purposes of this Agreement, the "Disability" of the
Employee shall mean the Employee's inability, because of mental or physical
illness or incapacity, whether total or partial, to perform one or more of the
primary duties of the Employee's employment with or without reasonable
accommodation, and which continues for a length of time that exceeds any period
of leave following which the Employee may have a right to be restored to the
same job or to an equivalent job under federal, state or local law.

                  c. For purposes of this Agreement, the term "Cause" shall mean
the Employee's (i) conviction or entry of a plea of guilty or nolo contendere,
with respect to any felony; (ii) commission of any act of willful misconduct,
gross negligence, fraud or dishonesty; (iii) violation of any term of this
Agreement or any written policy of the Company; or (iv) inability to meet the
performance objectives for the respective position. Notwithstanding the
foregoing, the Company shall not make a determination of "Cause" in any case
where the Cause is reasonably curable, in which case the Company shall provide a
reasonable opportunity of not less than ten (10) business days for the Employee
to cure prior to such a determination. In addition, if termination is pursuant
to subsection (iv), a determination of Cause shall only be made after the
Company has undergone a performance management process with the Employee and the
Employee has not shown ability to perform satisfactorily after a period of not
less than thirty (30) days.

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                  d. For purposes of this Agreement, "Without Cause" shall mean
for any reason(s) whatsoever (other than the reasons described in Sections
5(a)(i), 5(a)(ii), 5(a)(iii), and 5(a)(v) hereof).

                  e. The Employee should give the Company reasonable notice when
resigning from the Company. Reasonable notice being defined as two (2) months.

                  f. For purposes of this Agreement, a "Change in Control" of
the Company means a sale, transfer or other disposition of all or substantially
all of the assets of the Company, or the consummation of a merger or
consolidation of the Company or a sale or exchange of capital stock of the
Company, in either case as a result of which the stockholders of the Company
immediately prior to such transaction own, in the aggregate, less than a
majority of the outstanding voting capital stock or equity interests of the
surviving or resulting entity.

            6. Payments Upon Termination of Employment.

                  a. Death or Disability. If the Employee's employment hereunder
is terminated due to the Employee's death or Disability pursuant to Sections
5(a)(i) or (ii) hereof, the Company shall pay or provide to the Employee, the
Employee's designated beneficiary or to the Employee's estate (i) all base
salary pursuant to Section 3(a) hereof and any vacation pay pursuant to Section
3(g) hereof, in each case which has been earned but unpaid as of the Termination
Date; and (ii) any benefits to which the Employee may be entitled under any
employee benefits plan, policy or arrangement pursuant to Section 3(b) hereof
(including, but not limited to, life insurance and disability insurance) in
which he/she is a participant in accordance with the written terms of such plan,
policy or arrangement up to and including the Termination Date.

                  b. Termination for Cause or Resignation. If the Employee's
employment hereunder is terminated by the Company for Cause pursuant to Section
5(a)(iii) or due to the Employee's resignation pursuant to Section 5(a)(v), the
Company shall pay or provide to the Employee (i) all base salary pursuant to
Section 3(a) hereof and any vacation pay pursuant to Section 3(g) hereof, in
each case which has been earned but unpaid as of the Termination Date; and (ii)
any benefits to which the Employee may be entitled under any employee benefits
plan, policy or arrangement pursuant to Section 3(b) hereof in which he/she is a
participant in accordance with the written terms of such plan, policy or
arrangement up to and including the Termination Date

                  c. Termination Without Cause. If the Employee's employment
hereunder is terminated by the Company Without Cause pursuant to Section
5(a)(iv), the Company shall award the Employee severance pay, The severance pay
benefit shall be the continuation of the Employee's then current base pay for a
period of six (6) months.

Upon termination, the Employee may be eligible to reinstate health insurance
benefits pursuant to COBRA. If the Employee's employment hereunder is terminated
by the Company Without Cause pursuant to Section 5(a)(iv) and Employee is
eligible for and elects COBRA coverage, the Company will pay the Employee's
premiums for

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continuation of health benefits under COBRA for up to six (6) months following
the Termination Date, provided however that the employee shall be entitled to
and does in fact remain within the United States and has not taken subsequent
employment where such health insurance benefits are available.

In order to be eligible to receive any severance payment or medical benefits
pursuant to this paragraph 6, the Employee must sign, prior to receiving such
Severance Payment, a valid release and waiver of all claims against the Company
relating to the Employee's employment or the termination thereof, in a format to
be determined by the Company and must continue to comply with the provisions of
Section 4. No payment shall be made hereunder until at least eight (8) days
following the execution and delivery by the Employee of the valid release and
waiver.

                  d. No Other Payments. Except as provided in this Section 6,
the Employee shall not be entitled to receive any other payments or benefits
from the Company due to the termination of the Employee's employment, including
but not limited to, any employee benefits under any of the Company's employee
benefits plans or arrangements (other than at the Employee's expense under the
Consolidated Omnibus Budget Reconciliation Act of 1985 or pursuant to the
written terms of any pension benefit plan in which the Employee is a participant
in which the Company may have in effect from time to time) or any right to
severance benefits.

            7. Deductions and Withholding. The Employee agrees that the Company
shall withhold from any and all compensation payable under this Agreement all
federal, state, local and/or other taxes which the Company determines are
required to be withheld under applicable statutes and/or regulations from time
to time in effect and all amounts required to be deducted in respect of the
Employee's coverage by and participation in applicable Employee benefit plans,
policies or arrangements.

            8. Entire Agreement. This Agreement embodies the entire agreement of
the parties with respect to the Employee's employment and supersedes any other
prior oral or written agreements between the Employee and the Company and its
affiliates. This Agreement may not be changed or terminated orally but only by
an agreement in writing signed by the parties hereto.

            9. Waiver. The waiver by the Company of a breach of any provision of
this Agreement by the Employee shall not operate or be construed as a waiver of
any subsequent breach by the Employee. The waiver by the Employee of a breach of
any provision of this Agreement by the Company shall not operate or be construed
as a waiver of any subsequent breach by the Company.

            10. Governing Law. This Agreement shall be governed by, and
construed in accordance with, the laws of the Commonwealth of Massachusetts,
without regard to the choice of laws rules of any state or where the Employee is
in fact required to work.

            11. Jurisdiction. Any legal suit, action or proceeding against any
party hereto arising out of or relating to this Agreement shall be brought
solely in the courts of

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the Commonwealth of Massachusetts or of the United States of America for the
District of Massachusetts and each party hereto waives any objection which it
may now or hereafter have to the laying of venue of any such suit, action or
proceeding and each party hereto irrevocably submits to the jurisdiction of any
such court in any suit, action or proceeding.

            12. Assignability. The obligations of the Employee may not be
delegated and, except as expressly provided in Section 6(a) relating to the
designation of beneficiaries, the Employee may not, without the Company's
written consent thereto, assign, transfer, convey, pledge, encumber, hypothecate
or otherwise dispose of this Agreement or any interest therein. Any such
attempted delegation or disposition shall be null and void and without effect.
The Company and the Employee agree that this Agreement and all of the Company's
rights and obligations hereunder may be assigned or transferred by the Company
to and may be assumed by and become binding upon and may inure to the benefit of
any affiliate of or successor to the Company. The term "successor" shall mean
(with respect to the Company or any of its subsidiaries) any other corporation
or other business entity which, by merger, consolidation, purchase of the
assets, or otherwise, acquires all or a material part of the assets of the
Company. Any assignment by the Company of its rights or obligations hereunder to
any affiliate of or successor to the Company shall not be a termination of
employment for purposes of this Agreement.

            13. Severability. If any provision of this Agreement as applied to
either party or to any circumstances shall be adjudged by a court of competent
jurisdiction or arbitrator to be void or unenforceable, the same shall in no way
affect any other provision of this Agreement or the validity or enforceability
of this Agreement. If any court or arbitrator construes any of the provisions of
Section 4 hereof, or any part thereof, to be unreasonable because of the
duration of such provision or the geographic or other scope thereof, such court
or arbitrator may reduce the duration or restrict the geographic or other scope
of such provision and enforce such provision as so reduced or restricted.

            14. Notices. All notices to the Employee hereunder shall be in
writing and shall be delivered personally, sent by overnight courier or sent by
registered or certified mail, return receipt requested, to:

                  Mr. Chen Schor
                  [ADDRESS]

All notices to the Company hereunder shall be in writing and shall be delivered
personally, sent by overnight courier or sent by registered or certified mail,
return receipt requested, to:

                  Predix Pharmaceuticals Holdings, Inc.
                  10 K Gill Street
                  Woburn, MA 01801
                  Attention: President and CEO

Either party may change the address to which notices shall be sent by sending
written notice of such change of address to the other party.

                                       12
<PAGE>

            15. Section Headings. The section headings contained in this
Agreement are for reference purposes only and shall not affect in any way the
meaning or interpretation of this Agreement.

            16. Counterparts. This Agreement may be executed in one or more
counterparts, each of which shall be deemed to be an original, but all of which
taken together shall constitute one and the same instrument.

            17. Voluntary Agreement. The Employee acknowledges that before
entering into this Agreement, the Employee has had the opportunity to consult
with any attorney or other advisor of his/her choice, and that this Section 18
of this Agreement constitutes advice from the Company to do so if he/she
chooses. The Employee further acknowledges that he/she has read and understands
this Agreement and has entered into this Agreement of his/her own free will, and
that no promises or representations have been made to him/her by any person to
induce him/her to enter into this Agreement other than the express terms set
forth herein.

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

PREDIX PHARMACEUTICALS HOLDINGS, INC.         EMPLOYEE

By. /s/ MICHAEL G. KAUFFMAN, MD               /s/ CHEN SCHOR
    ------------------------------------      ---------------------
    Michael Kauffman, MD, PhD                 Employee signature
    President & Chief Executive Officer       Chen Schor

                                       13<PAGE>

                                                                   Exhibit 10.12

                  BIO-I.T. (BIO INFORMATION TECHNOLOGIES) LTD.

                              EMPLOYMENT AGREEMENT

                                      WITH

                                 DR. OREN BECKER

AGREEMENT dated as of October 31, 2000, between Dr. Oren Becker (the
"EMPLOYEE"), whose address is [ADDRESS], and BIO-I.T. (BIO INFORMATION
TECHNOLOGIES) LTD. (the "COMPANY"), a corporation incorporated under the laws of
the State of Israel, having its address at 12A Kibush Ha'voda Street,
Hertzeliya, Israel.

                                   WITNESSETH

WHEREAS the Employee is a Co-Founder of the Company, and the Company desires to
employ the Employee as its Chief Technology Officer ("CTO") with duties as set
forth in Section 2 below; and

WHEREAS the Employee represents he has the desired skills and knowledge to serve
in such positions.

NOW THEREFORE, in consideration of the premises and mutual agreements
hereinafter contained, the parties hereto agree as follows:

1.    Employment

From the Effective Date (as defined in Section 3), the Company hereby employs
Employee and Employee accepts employment with Company upon the conditions set
forth herein.

2.    Duties

      (a) The Company hereby engages Employee to serve as its CTO to be
      responsible for the following: (i) the technological aspect of the
      Company's research and development; (ii) preparation and demonstration of
      scientific presentations and as otherwise may be determined by the
      Company; (iii) assist and support the management and operation of the
      Company's business and development; and (iv) to perform other tasks, as
      shall be determined, from time to time by the Company's board of directors
      (the "DUTIES"). During the term hereof, Employee shall report to the
      Company's.

      (b) In addition to the discharge of his Duties hereunder in the premises
      of the Company, Employee shall make his services hereunder available by
      telephone during normal business hours, and at such times or at such other
      places as may mutually be agreed upon between the Company and the
      Employee. Without derogating from the foregoing, at the request and
      pursuant to the instructions of

<PAGE>

      the Company, Employee shall discharge his Duties and/or perform any
      specific task hereunder outside of Israel.

      (c) Employee shall provide the services hereunder on a full-time basis and
      shall devote all necessary time and attention to the furtherance of the
      business and interests of the Company, and shall perform his Duties
      diligently and promptly for the benefit of Company, strictly and
      faithfully upholding the Company's policies. During his engagement
      hereunder, Employee shall not, without prior written consent of the board
      of directors, undertake or accept any other paid or unpaid employment,
      occupation of services as a consultant or otherwise, or engage in or be
      associated with, directly or indirectly, any other businesses, duties or
      pursuits, including, without limitation, any academic occupation, except
      for strictly de-minimus non-commercial or non-business activities, which
      do not affect the adequate performance of the Employee's obligations
      hereunder.

3.    Term

      (a) The Employee's employment under this Agreement shall commence
      immediately after the Closing of the Company's 1st Round of Financing (as
      defined in the Founders Agreement to which this Agreement constitutes a
      schedule) (the "EFFECTIVE DATE") and shall end on the earliest of: (i) the
      death or disability (as defined herein) of the Employee; (ii) the
      termination of Employee's services by Company for Cause (as defined
      herein); or (iii) four (4) years from the Effective Date, unless earlier
      terminated without cause by either party on sixty (60) days prior written
      notice to the other (the "INITIAL TERM"). This Agreement may be extended
      by the mutual written consent of the parties. Any period of extension
      shall be referred to as an "EXTENDED TERM."

      (b) For the purpose of this Section 3, "DISABILITY" shall mean any
      physical or mental illness or injury as a result of which the Employee
      remains absent from work for a period of two (2) successive months, or an
      aggregate of two (2) months in any twelve (12) month period. Disability
      shall occur upon the end of such two (2) month period.

      (c) For the purpose of this Section 3, "CAUSE" shall exist if the Employee
      (i) breaches any of the material terms or conditions hereof including
      without limitation, any of the terms of Sections 7, 8, 9 and 10; (ii)
      fails to perform a significant portion of his tasks as determined by the
      board of directors; or (iii) engages in willful misconduct or acts in bad
      faith towards Company or any of its subsidiaries and/or affiliates with
      and related to the employment hereunder; or (iv) commits a felony or
      perpetrates fraud against the Company and/or any of its subsidiaries
      and/or affiliates.

      (d) During the sixty (60) day period following the notice of termination
      by any party to this Agreement, Employee shall cooperate with Company and
      use his best efforts to assist the integration into Company of the person
      or persons who will assume Employee's responsibilities.

                                        2
<PAGE>

4.    Compensation

      (a) The Company shall pay Employee a salary payable monthly and in
accordance with Company's normal and reasonable payroll practices, in a yearly
gross amount of NIS 413,7000 (the "YEARLY GROSS SALARY"). This Yearly Gross
Salary shall be payable over a period of twelve months, in equal monthly
payments of NIS 34,475 each (the "MONTHLY GROSS SALARY"). The Monthly Gross
Salary is exclusive of amounts payable by Company for the social benefits set
forth in Sections 4(b), 4(c), 4(d) an 4(e) and exclusive of the benefit in
Section 5A below, for the duration of this Agreement. The Monthly Gross Salary
shall be linked to the Israeli Consumer Price Index.

      (a1) If and subject to the Company completing a second round of financing
in which the investors in such round invest at least USD$4,000,000 (the "2ND
FINANCING ROUND"), then following 2nd Financing Round the Employee's Yearly
Gross Salary shall be increased by ten percent (10%). This newly increased
Yearly Gross Salary shall be payable in accordance with the provisions of
sub-section (a) above and the other sub-sections of this Section 4.

      (a2) Following the 2nd Financing Round, at the end of each year of
employment hereunder, the Company shall conduct a review of Employee's Yearly
Gross Salary. Any changes in Employee's Yearly Gross Salary after such 2nd
Financing Round shall be in the sole discretion of the Company's Board of
Directors. When reviewing the Employee's Yearly Gross Salary, the Board of
Directors shall take into account the following considerations: (i) the
Company's financial situation and profitability; (ii) whether or not the
Employee performed his duties hereunder to the Company's satisfaction and in
accordance with his projections and reports to the Company, and those other
considerations as may be appropriate in the circumstances. For the removal of
doubt, for as long as the Employee is a member of the Company's Board of
Directors, any change in the Employee's Yearly Gross Salary as aforesaid and any
other changes to the terms of employment hereunder, shall require the approval
of the Company's shareholders, all in accordance with the provisions of the
Companies Law 5759-1999, as same may be amended from time to time.

      (b) The Employee shall receive the Monthly Gross Salary payable in respect
to periods of Employee's military reserve duty. The Company shall be entitled to
receive and to retain any amounts payable by the National Insurance Institute or
any other agency or entity in respect of such periods.

      (c) (I) The Company and Employee will obtain and maintain Managers
Insurance ("BITUACH MENAHALIM") for the exclusive benefit of Employee and in
customary form, with respect to which the Company shall be the owner. The
Company shall contribute an amount equal to thirteen and one-third percent
(13.333%) of each Monthly Gross Salary payment (out of which 8.33% are
designated for severance payments and 5% are designated for premium payments)
(the "COMPANY CONTRIBUTION") and the Employee shall contribute five percent (5%)
of the Monthly Gross Salary payment (the "EMPLOYEE'S CONTRIBUTION") toward the
premiums payable in respect of such insurance, all amounts in the aggregate not
to exceed the Monthly

                                       3
<PAGE>

Gross Salary of Employee (the "INSURANCE POLICY"). The Employee hereby instructs
the Company to make the necessary transfers to the insurance company of the
amounts representing the Employee's and the Company's Contributions on account
of the Insurance Policy.

      (II) It is hereby agreed that, should the Employee be or become entitled
to severance pay under any applicable Israeli law, the amounts accrued in the
Insurance Policy on account of that portion of the Company's Contribution which
is designated for severance pay, [i.e., the 8.33%] (the "SEVERANCE PORTION")
shall be in lieu thereof and in full and final substitution therefor.

      Notwithstanding subsection (c)(II) above, if the Severance Portion accrued
in the Insurance Policy is less than the amount of severance pay the Employee is
or will be entitled to under applicable Israeli law, then the Company shall pay
the Employee the difference thereof.

      (III) It is hereby agreed that upon termination of employment under this
Agreement, the Company shall release to the Employee all amounts accrued in the
Insurance Policy on account of both the Company's and Employee's Contributions.

      Notwithstanding subsection (c)(III) above, the Company will not be
obligated to release to the Employee the Severance Portion of the Insurance
Policy, or pay the Employee any other form of severance pay, under any one of
the following circumstances:

            (xx) Termination of employment by the Company for `cause' (as
      defined in Section 3(c) above); and

            (yy) Termination of employment for reasons which under Israeli law
      would deprive the Employee of rights to severance pay.

      (d) The Company and the Employee shall open and maintain a Keren
Hishtalmut Fund (the "FUND") for the benefit of the Employee. The Company shall
contribute to the Fund an amount equal to 7.5% of each Monthly Gross Salary
payment and the Employee shall contribute to such Fund 2.5% of each Monthly
Gross Salary payment. It is hereby clarified, that any tax liabilities that are
due on account of the Company's contribution to the Fund shall be born solely by
the Employee. The Employee hereby instructs Company to make the necessary
transfers to the Fund of the amounts representing both the Employee's and the
Company's contributions.

      (d1) The Company shall obtain Disability Insurance ("Ovdan Kosher Avoda"),
which may be included within the Insurance Policy, for the exclusive benefit of
the Employee and shall contribute therefor an amount up to two and a half
percent (2.5%) of each Monthly Gross Salary payment.

      (e) Bonus. The Company's board of directors shall in its sole discretion,
determine the amount of any bonus, the method of its computation, the periods
for which any such bonus shall be paid and the performance targets required to
be achieved by the

                                       4
<PAGE>

Employee prior to receipt of any such bonus. When determining the amount of
bonus to be paid hereunder, the Company's board or directors shall also consider
factors such as the Company's financial condition and the Employee's achievement
of any of the targets set by the Company's Board of Directors.

5.    Vacation

      (a) During the first year of employment hereunder, the Employee shall be
entitled to fifteen (15) working days of paid vacation.

      (b) Thereafter, during each year of employment hereunder, the Employee
shall be entitled to an additional two (2) working days of paid vacation (i.e.,
in the second year of employment - 17 days, in the third year of employment - 19
days and so on), up to a maximum aggregate of twenty-one (21) working days of
paid vacation for any given year of employment hereunder.

      (c) Vacation time may be taken at times subject to the reasonable approval
of the Company and may be accumulated for no more than thirty (30) days for a
period of two (2) years after which time Employee shall forfeit any unused
vacation remaining at the end of such two year period.

      (d) Accumulated vacation time shall be paid according to the regular
payroll practice in Company, only upon termination of the employment by Company.

5A.   Company Car

The Company shall provide the Employee with an automobile for his exclusive use,
of a make, model and size as determined by the Company in its sole discretion.
Notwithstanding the foregoing, the car provided shall be a category 3 car. The
Company shall pay all actual maintenance (including gasoline) and insurance
expenses in connection with the automobile and its use by the Employee. For the
removal of doubt, the Company shall only be required to provide said insurance
in connection with the use of such automobile solely by the Employee. The
Company shall bear the cost of the taxes payable in connection with the
provision of such automobile and the use of same by the Employee. For the
removal of doubt, the Company shall not be liable to pay any tickets in
connection with any traffic violations, whether such tickets were issued by the
police or by a municipality and the Employee hereby agrees to indemnify and hold
harmless the Company, its officers, directors and employees (the "INDEMNIFIED
PERSONS") from and against any claim and/or liability made and/or imposed upon
such Indemnified Persons, arising from any such traffic violation and/or tickets
related thereto, regardless of whether such violations and/or tickets are
recorded or issued by the police of a municipality.

                                       5
<PAGE>

6.    Expenses

The Company shall reimburse the Employee for all ordinary and reasonably
necessary business expenditures incurred directly in connection with or in
furtherance of a specific task or services rendered to the Company by the
Employee at the request of the Company (e.g., performance of activities outside
of Israel), upon presentation of the appropriate invoices, receipts, vouchers or
such other supporting information and documents as may be requested by the
Company from time to time. Notwithstanding the foregoing, expenses exceeding
USD$2,000 shall be subject to the prior written approval of the Company. Except
as provided for in this Section 6 or unless otherwise agreed to in writing by
the Company, the Company shall have no liability to reimburse the Employee for
any expenses incurred by him in connection with this Agreement or the discharge
of his regular or ordinary duties or services as an employee of the Company
hereunder. Employee will be reimbursed as soon as practicable following the
presentation to the Company of appropriate information and documentation
evidencing such expenses, as provided in this Section 6.

7.    Undertaking

Simultaneously with the execution of this Agreement, the Employee shall execute
the undertaking attached hereto as EXHIBIT A, including any exhibits attached
thereto, including but not limited to the deeds of transfer of shares and the
escrow agreement.

8.    Proprietary Rights and Information

Subject to the provisions of the License Agreement between Company and
Ramot-University Authority for Applied Research and Industrial Development Ltd.,
dated as of same date (the "LICENSE AGREEMENT") with respect to proprietary
rights in the Technology (as defined in the License Agreement:

      (a) any and all patentable and unpatentable inventions, discoveries, ideas
or applications conceived, originated or developed by Employee during the term
of his employment under this Agreement or in connection therewith and directly
relating to Company's business (which on the Effective Date relates to drug
discovery to membrane embedded proteins and De Novo protein design), and as may
be adjusted from time to time (the "COMPANY'S BUSINESS") shall be the sole and
exclusive property of Company in every territory in which Company conducts its
business, whether directly or indirectly. Without derogating from the foregoing,
Employee hereby irrevocably transfers and assigns to the Company for no
consideration any and all such present and future patentable and unpatentable
inventions, discoveries, ideas or applications, including but not limited to any
intellectual property related rights to or in the same, which were invented,
discovered, thought of, produced, developed or applied during the term of
employment hereunder. In addition, without derogating from any of the foregoing
provisions, the Employee, at the request and sole expense of Company, shall
execute such documents and perform such acts as the Company or its counsel may
deem necessary or advisable to irrevocably confer upon the Company for no
consideration all rights in and title and interest to such invention, discovery
or idea, and all patent

                                       6
<PAGE>

application, patents and copyrights thereon, and to enable and assist the
Company in procuring, maintaining, enforcing and defending patents, copyrights
and other applicable statutory protection on any such invention, discovery, idea
or application which may be patentable or copyrightable.

      (b) Employee shall promptly disclose to the Company in such form and
manner as the Company may reasonably require all inventions, systems, services
and other information or data directly relating to the Company's Business
conceived, originated, discovered or developed by the Employee hereunder and
during the term hereof. It is understood that such information is proprietary in
nature and shall (as between the Company and the Employee) be for the exclusive
use and benefit of the Company. In addition, the Employee shall keep the Company
informed on a regular basis of the progress of the Employee's research and
development efforts hereunder.

9.    Secrecy and Nondisclosure

The Employee agrees to treat as secret and confidential all of the processes,
methods, formulas, procedures, techniques, software, designs, data, drawings and
other information which are not of public knowledge or record pertaining at any
time to the Company's Business of which the Employee becomes aware. The Employee
agrees not to disclose, use, publish, or in any other manner reveal, directly or
indirectly, at any time during or after the term of this Agreement, without the
prior written consent of the Company in each instance, any such processes,
methods, formulas, procedures, techniques, software, designs, data, drawings and
other information pertaining at any time to the Company's Business. The Company
undertakes to establish a policy or general guidelines relating to the
publication of scientific contributions by its employees which is intended to
encourage such publication and, at the same time, provide for the Company with
adequate protection of its intellectual property and proprietary rights. For the
removal of doubt, the Employee shall, prior to releasing any scientific or like
publication relating to the Company's proprietary information, present such
proposed publication materials to the Company's Chief Executive Officer or any
other person designated for such purpose by the Company's Chief Executive
Officer for his/her approval for such publication. For the purposes of this
Section 9, the Company's proprietary information shall include but not be
limited to information, in any form, obtained by the Employee for and on behalf
of the Company in the fulfillment of his duties hereunder.

10.   Non-Competition

      (a) Employee agrees that, during the term of this Agreement, including any
extensions thereto and for a period of eighteen (18) months thereafter, he will
not directly or indirectly, for his own account or as an employee, officer,
director, partner, joint venturer, shareholder, investor, consultant or
otherwise (except as an investor in a corporation whose stock is publicly traded
and in which Employee holds less than five (5%) percent of the outstanding
shares):

            (i) in the following territories: Israel, U.S.A., Germany,
Switzerland, the United Kingdom, France and Japan, interest himself in, be
connected with or engage

                                       7
<PAGE>

in any projects, which are competitive with the Company's Business in which the
Company is engaged or is actively pursuing engagement, during the term of this
Agreement or following termination, or is proposed in writing by Company prior
to the time of termination of this Agreement, unless otherwise specifically
permitted under this Agreement;

            (ii) hire, engage or employ or solicit, contact or communicate with
for the purposes of hiring, employing or engaging, any person who is then or was
an employee and/or consultant of Company at any time within the twelve-month
period immediately prior thereto.

      (b) The restrictions in subsection 10(a) shall not apply to any activities
that are disclosed by Employee in advance to the Company, and are consented to
in writing by the Company.

      (c) Notwithstanding anything contained in this Section 10 to the contrary,
if the period of time or the geographical area specified under subsection 10(a)
above should be determined to be unreasonable in any judicial proceeding, then
the period of time and area of the restriction shall be reduced so that this
Agreement may be enforced in such area during such period of time as shall be
determined to be reasonable by such judicial proceeding.

11.   Representations of Employee

Employee hereby represents and warrants to Company that:

      (a) The execution and delivery of this Agreement and the fulfillment of
the terms hereof (including any duties and obligations of or transactions
executed by Employee hereunder) (i) do not and will not constitute a default
under or conflict with any agreement or other instrument to which he is a party
or by which he is bound, including but not limited under his agreement with the
University of Tel Aviv, Israel, (ii) does not require the consent of any person
or entity, or alternatively, that if it does not require the consent of any
person or entity, that such consent has been obtained, in writing, prior to the
execution of this Agreement, and (iii) do not and will not violate, interfere
with or infringe upon, any rights of any other person or entity; and

      (b) This Agreement constitutes the valid and binding obligation of
Employee enforceable against him in accordance with its terms subject to
applicable bankruptcy, insolvency, moratorium and similar laws affecting
creditors' rights generally, and subject, as to enforceability, to general
principles of equity (regardless if enforcement is sought in a proceeding in
equity or at law).

      (c) Employee acknowledges that his Position requires a special measure of
personal trust, as defined in the Law of the Hours of Work, and Rest - 1951, and
therefore, Employee shall not be entitled to any additional compensation for
extra hours of work.

                                       8
<PAGE>

12.   Representations of Company

Company hereby represents and warrants to Employee that:

      (a) The execution and delivery of this Agreement and the fulfillment of
the terms hereof (i) will not constitute a default under or conflict with any
agreement or other instrument to which Company is a party or by which it is
bound, and (ii) does not require the consent of any person or entity; and

      (b) This Agreement constitutes the valid and binding obligation of Company
enforceable against it in accordance with its terms subject to applicable
insolvency, moratorium and similar laws affecting creditors' rights generally,
and subject, as to enforceability, to general principles of equity (regardless
if enforcement is sought in a proceeding in equity or at law).

13.   Miscellaneous

      13.1 Waiver. Failure by either party to insist upon compliance with any of
the terms, covenants, or conditions hereof shall not be deemed a waiver of such
term, covenant, or condition, nor shall any waiver or relinquishment of any
right or power hereunder at any one time or more times be deemed a waiver or
relinquishment of such right or power at any other time or times.

      13.2 Severability. The invalidity or non enforceability or any provision
hereof shall in no way affect the validity or enforceability of any other
provision. The parties to this Agreement agree and intend that this Agreement
shall be enforced as fully as it may be enforced consistent with applicable
statutes and rules of law.

      13.3 Benefit. Except as otherwise herein expressly provided, this
Agreement shall inure to the benefit of and be binding upon Company, its
successors and assigns, including, without limitation, any company which may
acquire all or substantially all of Company's assets or business or with or into
which Company may be consolidated or merged, and to the benefit of, and be
binding upon, Employee, his heirs, executors, administrators and legal
representatives. Notwithstanding the foregoing, the obligations of Employee
hereunder shall not be assignable or delegable.

      13.4 Entire Agreement. This Agreement constitutes the entire understanding
and agreement between the parties hereto, supersedes any and all prior
discussions, agreements and correspondence with regard to the subject matter
hereof, and may not be amended, modified or supplemented in any respect, except
by a subsequent writing executed by both parties hereto. For the removal of
doubt, if a conflict exists between the provisions of this Agreement relating to
confidentiality and non-competition and any other agreement containing similar
undertakings of the Employee, then the provisions of this Agreement shall
prevail and supersede any such conflicting provisions.

      13.5 Taxes. From all payments made by the Company hereunder, all
applicable taxes will be deducted.

                                       9
<PAGE>

      13.6 Notices. Any notice or other communication required or permitted
hereunder shall be in writing and shall be delivered personally of sent by
facsimile or sent by certified, registered or express mail, postage prepaid. Any
such notice shall be deemed given when so delivered personally or sent by
facsimile transmission or, if mailed, five days after the date of deposit in the
mail, as follows:

      (i)   if to Dr. Oren Becker
            [ADDRESS]

      (ii)  if to Company:
            12A Kibush Ha'voda Street
            Hertzeliya, Israel
            Attn: Dr. Silvia Noiman

Any party may, by notice given in accordance with this Section 13.6 to the other
parties, designate another address or person for receipt of notices hereunder.

      13.7 Applicable Law. This Agreement shall be governed by, construed and
enforced in accordance with the laws of the State of Israel, without giving
effect to principles of conflicts of law.

      13.8 Jurisdiction. The parties agree that the District Courts located in
Tel Aviv shall have jurisdiction to settle any disputes that may arise out of or
in connection with this Agreement and that, accordingly, any suit, action or
proceeding arising out of or in connection with this Agreement may be brought in
such courts.

      13.9 Counterparts. This Agreement may be executed in one or more
counterparts but all such separate counterparts shall constitute but one and the
same instrument; provided that, although executed in counterparts, the executed
signature pages of each such counterparts may be affixed to a single copy of
this Agreement as of the date first above written.

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

            [THE REMAINDER OF THIS PAGE IS INTENTIONALLY LEFT BLANK]

                                       10
<PAGE>

BIO-I.T. (BIO INFORMATION TECHNLOGIES) LTD.

/s/ HAIM AVIV
-----------------------
Name:
Title:

/s/ OREN BECKER
-----------------------
DR. OREN BECKER

                                       11
<PAGE>

TO:  BIO-IT (BIO INFORMATION TECHNOLOGIES) LTD.

FROM:  DR. OREN BECKER

                                                          Date: October 31, 2000

                                   UNDERTAKING

1.    I, the undersigned, hereby agree and undertake to subject the 240,000
      Ordinary Shares (the "SHARES") I hold in Bio-IT (Bio Information
      Technologies) Ltd. (the "COMPANY") to my continued services to the Company
      as an employee, such that if I do not complete four (4) years of service
      (the "TERM OF SERVICE") portions of my Shares will revert back to the
      Company or be transferred to the Repurchaser (as defined below), as
      applicable, according to the following provisions:

            (a) If at any time prior to the second anniversary of the Effective
            Date as defined in the Employment Agreement entered into between
            myself and the Company on October 31, 2000 (the "EMPLOYMENT
            AGREEMENT") I am no longer an employee of the Company, except for
            termination of my services by the Company without cause (as such
            term is defined in the Employment Agreement) ("TERMINATION WITHOUT
            CAUSE") then 180,000 of my Shares shall be transferred to the
            Repurchaser, as defined below, for no consideration; and

            (b) If at any time after the second anniversary but before the third
            anniversary of the Effective Date of the Employment Agreement I am
            no longer an employee of the Company, except for Termination Without
            Cause, then 120,000 of my Shares shall be transferred to the
            Repurchaser for no consideration; and

            (c) If at any time after the third anniversary but before the fourth
            anniversary of the Effective Date of the Employment Agreement I am
            no longer an employee of the Company, except for Termination Without
            Cause, then 60,000 of my Shares shall be transferred to the
            Repurchaser for no consideration; and

            (d) If on the fourth anniversary of the Effective Date of the
            Employment Agreement I am still an employee of the Company then the
            Repurchaser shall no longer be entitled to receive by way of
            transfer any portion of my Shares and if the Repurchaser is the
            Company, then it shall not be entitled to a reversion back to it of
            any portion of the Shares.

      The "REPURCHASER" shall mean the Company, if it so desires and to the
      extent it is permitted by law. Otherwise, Repurchaser shall mean such
      entity designated by the Company which shall hold such repurchased shares
      in escrow for future allocation to employees, directors and other service
      providers of the Company and/or any subsidiary thereof, under an approved
      Share Option Plan(s).

2.

            (a) In order to facilitate the repurchase and/or transfer of the
            shares as set forth above in an orderly fashion, I shall,
            simultaneously with the execution of this Undertaking, execute three
            (3) deeds of transfer of shares, in the form attached hereto as
            EXHIBIT A (the "DEEDS OF TRANSFER"). With these Deeds of Transfer I
            hereby irrevocably authorize the Company or any designee thereof to
            fill in the name of the transferee in these Deeds and to complete
            the transfer of Shares according thereto.

<PAGE>
                                       2

            (b) The number of Shares in each Deed of Transfer, during the period
            in which the Deeds of Transfer are held by KH, shall be subject to
            automatic adjustment (the "AUTOMATIC ADJUSTMENT") if the outstanding
            shares of the Company shall be changed or exchanged by declaration
            of a share dividend, share split, combination or exchange of shares,
            recapitalization, extraordinary dividend payable in shares of a
            corporation other than the Company, or otherwise in cash, or any
            other like event by or of the Company, and requiring that the
            number, class and kind of the Shares be adjusted (each an
            "ADJUSTMENT EVENT"). The mechanics of the Automatic Adjustment shall
            be as follows: if after the occurrence of an Adjustment Event any
            Deed(s) of Transfer shall be released to the Repurchaser according
            to the provisions of Section 1 above and the terms of the Escrow
            Agreement annexed hereto as EXHIBIT B, then the number of Shares
            that shall be transferred pursuant thereto shall be the number
            appearing in the Deed(s) of Transfer as adjusted to the Adjustment
            Event.

            (c) Becker hereby acknowledges and agrees that upon receipt of
            notice from the Company that an Adjustment Event has occurred, the
            Automatic Adjustment mechanism will operate, and that if the
            Repurchaser shall become entitled to any portion of the Shares
            following such Adjustment Event, then the Deed(s) of Transfer shall
            be deemed to cover the number of Shares stated therein as adjusted
            to such Adjustment Event.

            (d) Becker hereby further acknowledges and confirms that the
            Repurchaser shall be entitled to rely upon the Deed(s) of Transfer
            with the number of Shares as adjusted to an Adjustment Event. Becker
            agrees that the corporate records of the Company shall be conclusive
            evidence of an occurrence of any such Adjustment Event.

3.

            (a) The Deeds of Transfer shall be held in trust by K.H. Trustees
            Ltd., ("KH"). Upon receipt of notice from the Company of the
            occurrence of an event of termination of my employment, all in
            accordance with the provisions of Sections 1(a) through 1(c) above
            (the "COMPANY's INSTRUCTIONS NOTICE"), K.H. shall, within 3 business
            days of such notice, send me a copy of the Company's Instructions
            Notice ("KH's NOTICE"). Within 4 business days from the date of KH's
            Notice, KH shall release to the Company the applicable number of
            Deeds of Transfer (as adjusted to an Adjustment Event). The
            Company's Instructions Notice shall be final and binding upon KH or
            any successor thereof, unless I provide KH with an appropriate
            injuctive order, preventing such release to the Company, issued by a
            court of competent jurisdiction prior to the end of such 4 days'
            period.

            (b) Following the second anniversary of the Effective Date of the
            Employment Agreement, upon my written request to KH accompanied with
            a letter of confirmation from the Company to the effect that until
            such anniversary I was an employee of the Company, KH shall release
            one (1) Deed of Transfer (as adjusted to an Adjustment Event) to my
            possession.

            (c) Following the third anniversary of the Effective Date of the
            Employment Agreement, upon my written request to KH accompanied with
            a letter of confirmation from the Company to the effect that until
            such anniversary I was an employee of the Company, KH shall release
            one (1) Deed of Transfer (as adjusted to an Adjustment Event) to my
            possession, or two (2) such Deeds of Transfer (as adjusted to an
            Adjustment Event), provided however, that I did not previously
            request a release under sub-section (b) above.

<PAGE>
                                       3

            (d) Upon the fulfillment of the condition set forth in Section 1(d)
            above and upon my written request accompanied by a written
            confirmation by the Company to the effect that on the fourth
            anniversary of the Effective Date of the Employment Agreement I was
            an employee of the Company, KH shall return all three (3) Deeds of
            Transfer (as adjusted to an Adjustment Event) to my possession,
            provided however, that I did not previously request a release under
            sub-sections (b) and/or (c) above.

            (e) Upon my written request accompanied with a written confirmation
            from the Company to the effect that: (i) one of the events described
            in Sections 9.1 through 9.6 has occurred; and (ii) that until the
            occurrence of such event I was an employee of the Company, KH shall
            release to my possession any remaining Deeds of Transfer (as
            adjusted to an Adjustment Event) and that portion of my Shares shall
            no longer be subject to the repurchase or reversion right of the
            Repurchaser.

            (f) Upon the written request of the executor of my estate
            accompanied with: (i) a notarized copy of a death certificate issued
            upon my death; and (ii) a written confirmation from the Company to
            the effect that until my death I was an employee of the Company, KH
            shall release to the possession of such executor any remaining Deeds
            of Transfer (as adjusted to an Adjustment Event).

4.    The Ordinary Shares that may be repurchased according to the provisions of
      this Undertaking shall confer upon their holder those rights attached to
      the Ordinary Shares of the Company, as set forth in the Company's Articles
      of Association as may be in effect from time to time.

5.    In order to comply with the provisions of this Undertaking, with the
      exception of transfer of the Shares that are no longer subject to
      repurchase, I further undertake the following in addition to any other
      restrictions on the my Shares in any other agreements and/or documents:

            (a) Until the lapse of one (1) year following the Effective Date of
            the Employment Agreement, I shall not transfer, undertake to
            transfer, otherwise dispose of, pledge, charge or otherwise encumber
            (hereinafter a "DISPOSITION") 180,000 of my Shares (as adjusted an
            Adjustment Event); and

            (b) After the period set forth in sub-section (a) above and until
            the lapse of two (2) years following the Effective Date of the
            Employment Agreement, I shall not cause a Disposition of 120,000 of
            my Shares (as adjusted to an Adjustment Event); and

            (c) After the period set forth in sub-section (b) above and until
            the lapse of three (3) years following the Effective Date of the
            Employment Agreement, I shall not cause a Disposition of 60,000 of
            my Shares (as adjusted to an Adjustment Event).

            (d) I hereby further acknowledge and expressly agree that the share
            certificate(s) corresponding to the Shares (including any share
            certificate to be issued instead of or in addition to such shares as
            detailed in Section 3 above) may bear a legend indicating that such
            shares are subject to the restrictions provided for hereunder (the
            "RESTRICTIVE LEGEND"). Following the actual release to my possession
            of the Deeds of Transfer or any one of them, as applicable, upon
            delivery to the Company of my written request, I shall be entitled
            to have the Restrictive Legend removed from the share certificate
            issued to me by the Company, with respect to those Shares no longer
            subject to the repurchase right herein. In order to accomplish this
            I shall surrender my share certificate to the Company for its
            replacement with a new share certificate(s), not bearing the
            Restrictive Legend. Notwithstanding the foregoing, the new share
            certificate(s) will continue to bear the following legend:

<PAGE>
                                       4

      "The Shares represented by this certificate, have not been registered
      under the Securities Act of 1933 or under the securities laws of any
      state. These shares have been acquired for investment and not with a view
      to distribution or resale, and may not be sold, transferred, pledged or
      hypothecated in the absence of an effective registration statement for
      such shares under the Securities Act of 1933 and such state securities
      laws as maybe applicable or the delivery to BIO-IT (BIO INFORMATION
      TECHNOLOGIES) LTD. of an opinion of counsel, reasonably acceptable to it,
      to the effect that registration is not required under such Act or such
      state securities laws.

      The foregoing restrictions terminate when the shares may be freely
      transferred without restriction under Rule 144, under the Securities Act
      of 1933, or any successor thereto, and may be disregarded thereafter.

      The sale or transfer of the securities represented by this certificate is
      subject to the terms and conditions of a certain Shareholders Agreement
      dated _____________ and certain schedules thereto, by and among the holder
      hereof and other shareholders of the Company. Copies of such agreement and
      schedules may be obtained upon written request to the Company's
      Secretary".

6.    I hereby represent and warrant to the Repurchaser that the portion of the
      Shares subject to repurchase in accordance with this Undertaking, when
      transferred to the Repurchaser shall be free of any lien, encumbrance
      and/or any right or obligation which may limit the right of the
      Repurchaser in such Shares.

7.    Notwithstanding the above, I reserve the right to transfer any portion of
      my Shares to a Permitted Transferee (as such term is defined in the
      Company's Articles of Association, as same may be amended from time to
      time), provided that any such transferee shall undertake, in writing, to
      fully comply with the provisions of this Undertaking, and shall, upon such
      transfer to such transferee and as a condition precedent to its validity,
      execute appropriate Deed(s) of Transfer, mutatis mutandis.

8.    I hereby agree that I shall have no rights of a shareholder or otherwise
      have any rights with respect to those Shares that have been repurchased,
      or if the Repurchaser is the Company, then with respect to the Shares that
      have reverted back to the Company, all in accordance with the provisions
      set forth above. Subject to the restrictions appearing in this
      undertaking, the Company's Articles of Association, or any other agreement
      to which I am a party, I reserve all rights of a shareholder of the
      Company with respect to those Shares that have not been repurchased or
      have not reverted back to the Company, as applicable.

9.    Notwithstanding anything to the contrary herein, upon the occurrence of
      any one of the following events prior to the end of the Term of Service
      and provided that until the occurrence of any such event I am an employee
      of the Company, the Shares shall no longer be subject to the
      repurchase/reversion provisions set forth above and the Repurchaser or the
      Company, as applicable, shall thereafter have no right to have such Shares
      revert back or transferred to it:

<PAGE>
                                       5

      9.1   upon the consummation of a merger of the Company into another entity
            where the Company is not the surviving entity of the merger
            transaction;

      9.2   upon the consummation of an acquisition of all or substantially all
            of the Company's assets;

      9.3   upon the consummation of an acquisition of all or substantially all
            of the Company's securities, except where the acquirer is at the
            time of such acquisition a 25% or more shareholder in the Company;

      9.4   upon my disability as such term is defined in the Employment
            Agreement;

      9.5   upon the consummation of the Company's initial public offering of
            its securities to the public; and

      9.6   upon Termination Without Cause; and

      9.7   upon my death.

10.   In connection with the deposit of the Deeds of Transfer with KH, both the
      Company and myself will execute a form of escrow agreement with KH, in the
      form attached hereto as EXHIBIT B (the "ESCROW AGREEMENT"). The Escrow
      Agreement shall be executed simultaneously with the execution of this
      Undertaking.

IN WITNESS WHEREOF, I have executed this undertaking as of October 31, 2000.

DR. OREN BECKER

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

Witness to Signature

Name: __________________________________

Date: __________________________________

Signature: _____________________________

<PAGE>
                                       6

We the undersigned, accept and acknowledge the terms of this Undertaking.

BIO-IT (BIO INFORMATION TECHNOLOGIES) LTD.

_______________________
By:
Title:

<PAGE>
                                       7

                                    EXHIBIT A

                           Deed of Transfer of Shares

I, Dr. Oren Becker, holder of Israeli identity card number
_________________________ (the "TRANSFEROR") does hereby transfer to
_________________, holder of _______________ (the "TRANSFEREE"), 60,000 Ordinary
Shares of nominal value NIS 0.01 each and as adjusted to an Adjustment Event (as
such term is defined in the Undertaking to which this deed constitutes an
exhibit), of BIO-IT (BIO INFORMATION TECHNOLOGIES) LTD. (the "COMPANY"), to be
held by the Transferee, its executors, administrators, and assigns, subject to
the conditions on which the Transferor held the shares at the time this document
was signed, and the Transferee agrees to accept the shares on these terms.

IN WITNESS WHEREOF we hereby sign on __________ of _________, __________.

--------------------------                      ________________________________
Dr. Oren Becker                                 [Transferee]

Witness to signature:                           Witness to signature:
_________________________________               ________________________________
Name: ___________________________               Name: __________________________

<PAGE>
                                       8

                                    EXHIBIT B

                                ESCROW AGREEMENT

Entered into this 31st day of October, 2000 by and between K.H. TRUSTEES LTD.,
an Israeli company whose address is 30 Kalisher Street, Tel-Aviv, Israel (the
"TRUSTEE"), BIO-IT (BIO INFORMATION TECHNOLOGIES) LTD. a company whose address
is 12A Kibush Ha'voda Street, Hertzeliya, Israel (the "COMPANY") and DR. OREN
BECKER, whose address is [ADDRESS] ("BECKER").

                                   WITNESSETH

WHEREAS Becker and the Company intend that the Trustee hold certain deeds of
transfer of shares in trust in accordance with the terms and conditions set
forth herein;

NOW THEREFORE, in consideration of the undertakings and premises herein, the
parties hereto hereby agree as follows:

1.    GENERAL

All terms not defined herein shall have the meanings ascribed to them in the
Undertaking to which this Agreement constitutes an exhibit (the "UNDERTAKING")
or the Employment Agreement between Becker and the Company dated as of October
31, 2000 (the "EMPLOYMENT AGREEMENT").

2.    ESCROW AND RELEASE FROM ESCROW

      2.1   By execution of this Escrow Agreement, the Company and Becker, and
            their respective successors and assigns, hereby irrevocably appoint
            the Trustee to act in accordance with the provisions of this
            Agreement.

      2.2   Simultaneously with the execution of this Agreement, Becker shall
            execute three Deeds of Transfer of shares in accordance with the
            provisions of the Undertaking. Immediately following their
            execution, Becker shall deposit these Deeds of Transfer with the
            Trustee to be held in escrow until their release in accordance with
            the provisions of the Undertaking and this Agreement.

      2.3

            (a) Upon the receipt of written notice from the Company of
            occurrence of any one of the events described in Sections 1(a)
            through I (c) of the Undertaking (the "COMPANY'S INSTRUCTIONS
            NOTICE") the Trustee shall, within three (3) business days of such
            notice, send Becker a copy of the Company's Instructions Notice (the
            "TRUSTEE'S NOTICE"). Within four (4) business days from the date of
            the Trustee's Notice, Becker hereby irrevocably instructs the
            Trustee to release to Company Deed(s) of Transfer as follows, unless
            prior to end of such 4 days' period Becker provides the Trustee
            (with a copy to the Company) of an appropriate injuctive order
            preventing such release, issued by a court of competent
            jurisdiction:

            (i) If said notice is issued in connection with Section 1(a) of the
            Undertaking then the Trustee is hereby instructed to release to the
            Company all three (3) Deeds of Transfer, for an aggregate of 180,
            000 Ordinary Shares of the Company (as adjusted to an Adjustment
            Event).

            (ii) If said notice is issued in connection with Section I(b) of the
            Undertaking then the Trustee is hereby instructed to release to the
            Company two (2) Deeds of Transfer, for an aggregate of 120,000
            Ordinary Shares of the Company (as adjusted to an Adjustment Event).

<PAGE>
                                       9

            (iii) If said notice is issued in connection with Section 1(c) of
            the Undertaking then the Trustee is hereby instructed to release to
            the Company one (1) Deed of Transfer, for an aggregate of 60,000
            Ordinary Shares of the Company (as adjusted to an Adjustment Event).

            (b) Unless the Deed(s) of Transfer have been released to the Company
            in accordance with the provisions of the Undertaking or sub-section
            (a) above, the Trustee may release the Deed(s) of Transfer to
            Becker's possession in accordance with the following provisions:

            (i) Following the second anniversary of the Effective Date of the
            Employment Agreement, upon receipt of Becker's written request
            accompanied by a letter of confirmation from the Company to the
            effect that Becker was employed by the Company on such anniversary,
            the Trustee shall release to Becker one (1) Deed of Transfer.

            (ii) Following the third anniversary of the Effective Date of the
            Employment Agreement, upon receipt of Becker's written request
            accompanied by a letter of confirmation from the Company to the
            effect that Becker was employed by the Company on such anniversary,
            the Trustee shall release to Becker one (1) Deed of Transfer, or two
            (2) Deeds of Transfer, provided however, that Becker did not
            previously request a release under sub-section (b)(i) above.

            (c) Upon receipt of a written request from Becker accompanied by a
            written confirmation from the Company to the effect that on the
            fourth anniversary of the Effective Date of the Employment Agreement
            Becker was an employee of the Company, the Trustee shall release all
            three (3) Deeds of Transfer to Becker's possession, provided
            however, that Becker did not previously request a release under
            sub-sections (b)(i) and/or (b)(ii) above.

            (d) Upon receipt from Becker of a written request accompanied by a
            written confirmation from the Company to the effect that: (i) one of
            the events described in Sections 9.1 through 9.6 of the Undertaking
            has occurred; and (ii) that until the occurrence of any such event
            Becker was an Employee of the Company, the Trustee shall release to
            Becker's possession any remaining Deeds of Transfer not previously
            released.

            (e) Upon the written request of the executor of Becker's estate
            accompanied with: (i) a notarized copy of a death certificate issued
            upon Becker's death; and (ii) written confirmation from the Company
            to the effect that until Becker's death he was an employee of the
            Company, the Trustee shall release to the possession of such
            executor any remaining Deeds of Transfer.

            (f) Becker hereby acknowledges, upon receipt of notice from the
            Company that an Adjustment Event has occurred during the term of
            this Escrow Agreement, the Trustee shall be entitled to rely on such
            notice and that the Automatic Adjustment mechanism shall become
            effective as to the number of Shares covered by the Deed(s) of
            Transfer.

<PAGE>
                                       10

3.    LIMITATIONS AS TO TRUSTEE

      3.1   This Escrow Agreement sets forth all the duties of the Trustee with
            respect to any and all matters relevant to the Deeds of Transfer.
            The Trustee shall have no duty to make independent inquiries of the
            truth of the contents of any notice issued by the parties. The
            Trustee shall be entitled to rely, without further investigation, on
            any such notice and the identity and authority of the person signing
            such notice.

      3.2   Both the Company and Becker hereby waive any and all claims and/or
            causes of action against the Trustee arising out of or related to
            this Escrow Agreement, including but not limited to the Trustee's
            right to rely on the Company's notice that an Adjustment Event has
            occurred, except such as are arising out of the Trustee's gross
            negligence or willful misconduct. In addition, the Company and
            Becker agree to indemnify and hold the Trustee harmless from and
            against any and all liabilities and costs of any kind caused by the
            Company and/or Becker and arising out of or in connection with this
            Escrow Agreement except for the Trustee's gross negligence or
            willful misconduct. The provisions of this Article 3.2 shall survive
            termination of this Agreement.

4.    MISCELLANEOUS

      4.1   All notices hereunder shall be sent to the parties at the respective
            addresses set forth above by facsimile with written confirmation by
            mail or by hard copy original sent by registered mail, return
            receipt requested, or such other address as is notified to the
            parties in writing. In any event all notices received by the Trustee
            from Becker shall be delivered to the Company and all notices
            received by the Trustee from the Company shall be delivered to
            Becker.

      4.2   This Escrow Agreement shall be construed in accordance with the laws
            of the State of Israel and the courts of Tel-Aviv shall have full
            and exclusive subject matter jurisdiction and full and exclusive
            personal jurisdiction over the parties in connection with any claim,
            dispute or controversy arising out of this Agreement.

      4.3   This Escrow Agreement may only be modified by a written instrument
            signed by all of the parties hereto. No waiver hereunder shall be
            effective unless in writing signed by the party to be charged.

      4.4   This Escrow Agreement shall terminate under upon the release of all
            three (3) Deeds of Transfer to the Company or Becker, as applicable,
            in accordance with the provisions hereof.

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

K.H. TRUSTEES LTD.                    BIO-IT (BIO INFORMATION TECHNOLOGIES) LTD.

-----------------------                                  _______________________
By:                                                      By:
Title:                                                   Title:

DR. OREN BECKER

_______________________
<PAGE>

                  BIO-I.T. (BIO INFORMATION TECHNOLOGIES) LTD.

                          AMENDED EMPLOYMENT AGREEMENT

                                      WITH

                                 DR. OREN BECKER

AMENDMENT dated as of April 3, 2001, between Dr. Oren Becker (the "EMPLOYEE"),
whose address is [ADDRESS], and BIO-I.T. (BIO INFORMATION TECHNOLOGIES) LTD.
(the "COMPANY"), a corporation incorporated under the laws of the State of
Israel, having its address at Beit Shap, 3 Hayetzirah Street, Ramat Gan, Israel.

                                   WITNESSETH

WHEREAS the parties entered into an employment agreement dated as of October 31,
2000 (the "Original Employment Agreement"); and

WHEREAS the parties desire to amend certain provisions of the Original
Employment Agreement and/or the exhibits attached thereto and the undertaking in
connection therewith, all in accordance with the terms of this Amendment.

NOW THEREFORE, in consideration of the premises and mutual agreements
hereinafter contained, the parties hereto agree to as follows:

1.    Effect of Employment Agreement

Except as expressly set forth herein the Original Employment Agreement remains
in full force and effect and is not amended, altered or modified.

2.    Section 13.6 Notices, is modified to provide as follows:

            "Notices. Any notice or other communication required or permitted
            hereunder shall be in writing and shall be delivered personally or
            sent by facsimile or sent by certified, registered or express mail,
            postage prepaid. Any such notice shall be deemed given when so
            delivered personally or sent by facsimile transmission or, if
            mailed, five days after the date of deposit in the mail, as follows:

                  (i)   if to Dr. Oren Becker
                        [ADDRESS]

                  (ii)  if to Company:
                        3 Hayetzirah Street
                        Ramat Gan, Israel

      Any party may, by notice given in accordance with this Section 13.6 to the
other parties, designate another address or person for receipt of notices
hereunder."

<PAGE>

                                       2

3. Counterparts. This Amendment may be executed in one or more counterparts but
all such separate counterparts shall constitute but one and the same instrument;
provided that, although executed in counterparts, the executed signature pages
of each such counterparts may be affixed to a single copy of this Amendment as
of the date first above written.

4. The Undertaking referenced in Section 7 to the Original Employment Agreement
and attached thereto as EXHIBIT A is modified in the entirety to be in the form
attached hereto as ANNEX 4 (the "Amended Undertaking").

5. The Escrow Agreement referenced in Section 7 to the Original Employment
Agreement is modified to be in the form attached hereto as ANNEX 5 (the "Amended
Escrow Agreement").

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

            [THE REMAINDER OF THIS PAGE IS INTENTIONALLY LEFT BLANK]

<PAGE>

                                        3

IN WITNESS WHEREOF, the parties have executed this Amended Employment Agreement
as of the date written above.

BIO-I.T. (BIO INFORMATION TECHNOLOGIES) LTD.

   /s/ CHEN SCHOR
--------------------------------
Name: Chen Schor
Title:

   /s/ OREN BECKER
--------------------------------
DR. OREN BECKER

<PAGE>

                                       4

TO: BIO-IT (BIO INFORMATION TECHNOLOGIES) LTD. ANNEX 4

FROM: DR. OREN BECKER                                        DATE: April 3, 2001

                               AMENDED UNDERTAKING

1.    I, the undersigned, hereby agree and undertake to subject the 240,000
      Ordinary Shares (the "SHARES") I hold in Bio-IT (Bio Information
      Technologies, Ltd. (the "COMPANY") to my continued services to the Company
      as an employee, such that if I do not complete four (4) years of service
      (the "TERM OF SERVICE") portions of my Shares will revert back to the
      Company or be transferred to the Repurchaser (as defined below), as
      applicable, according to the following provisions:

      (a)   If at any time prior to the second anniversary of the Effective Date
            as defined in the Employment Agreement entered into between myself
            and the Company on October 31, 2000 (the "ORIGINAL EMPLOYMENT
            AGREEMENT"), as amended on April 3, 2001 (the "AMENDMENT" and
            together with the Original Employment Agreement, the "EMPLOYMENT
            AGREEMENT") I am no longer an employee of the Company, except for
            termination of my services by the Company without cause (as such
            term is defined in the Employment Agreement) ("TERMINATION WITHOUT
            CAUSE") then 180,000 of my Shares shall be transferred to the
            Repurchaser, as defined below, for no consideration; and

      (b)   If at any time after the second anniversary but before the fourth
            anniversary of the Effective Date of the Employment Agreement I am
            no longer an employee of the Company, except for Termination Without
            Cause, then for each three month period remaining between the date
            on which I cease to be an employee of the Company and the fourth
            anniversary of the Effective Date of the Employment Agreement 15,000
            of my Shares shall be transferred to the Repurchaser for no
            consideration; and

      (c)   [intentionally deleted]; and

      (d)   If on the fourth anniversary of the Effective Date of the Employment
            Agreement I am still an employee of the Company then the Repurchaser
            shall no longer be entitled to receive by way of transfer any
            portion of my Shares and if the Repurchaser is the Company, then it
            shall not be entitled to a reversion back to it of any portion of
            the Shares.

      The "REPURCHASER" shall mean the Company, if it so desires and to the
extent it is permitted by law. Otherwise, Repurchaser shall mean such entity
designated by the Company which shall hold such repurchased shares in escrow for
future allocation to employees, directors and other service providers of the
Company and/or any subsidiary thereof, under an approved Share Option Plan(s).

<PAGE>

                                       5

2.    (a) In order to facilitate the repurchase and/or transfer of the shares as
      set forth above in an ordinary fashion, I shall, simultaneously with the
      execution of this Amended Undertaking, confirm that two (2) deeds of
      transfer of shares, in the form attached hereto as EXHIBIT A (the "DEEDS
      OF TRANSFER") executed by me in connection with Sections 1(b) (for 120,000
      Shares) and 1(c) (for 60,000 Shares) of the original Undertaking were
      returned to me marked cancelled; and that I executed eight (8) new Deeds
      of Transfer (each for 15,000 Shares) in connection with Section 1(b) of
      this Amended Undertaking. With these Deeds of Transfer I hereby
      irrevocably authorize the Company or any designee thereof to fill in the
      name of the transferee in these Deeds and to complete the transfer of
      Shares according thereto.

      (b) The number of Shares in each Deed of Transfer, during the period in
      which the Deeds of Transfer are held by KH, shall be subject to automatic
      adjustment (the "AUTOMATIC ADJUSTMENT") if the outstanding shares of the
      Company shall be changed or exchanged by declaration of a share dividend,
      share split, combination or exchange of shares, recapitalization,
      extraordinary dividend payable in shares of a corporation other than the
      Company, or otherwise in cash, or any other like event by or of the
      Company, and requiring that the number, class and kind of the Shares be
      adjusted (each an "ADJUSTMENT EVENT"). The mechanics of the Automatic
      Adjustment shall be as follows: if after the occurrence of an Adjustment
      Event any Deed(s) of Transfer shall be released to the Repurchaser
      according to the provisions of Section 1 above and the terms of the
      Amended Escrow Agreement annexed to the Amendment as ANNEX 5, then the
      number of Shares that shall be transferred pursuant thereto shall be the
      number appearing in the Deed(s) of Transfer as adjusted to the Adjustment
      Event.

      (c) Becker hereby acknowledges and agrees that upon receipt of notice from
      the Company that an Adjustment Event has occurred, the Automatic
      Adjustment mechanism will operate, and that if the Repurchaser shall
      become entitled to any portion of the Shares following such Adjustment
      Event, then the Deed(s) of Transfer shall be deemed to cover the number of
      Shares stated therein as adjusted to such Adjustment Event.

      (d) Becker hereby further acknowledges and confirms that the Repurchaser
      shall be entitled to rely upon the Deed(s) of Transfer with the number of
      Shares as adjusted to an Adjustment Event, Becker agrees that the
      corporate records of the Company shall be conclusive evidence of an
      occurrence of any such Adjustment Event.

3.    (a) The Deeds of Transfer shall be held in trust by K.H. Trustees Ltd.,
      ("KH"). Upon receipt of notice from the Company of the occurrence of an
      event of termination above (the "COMPANY'S INSTRUCTIONS NOTICE"), K.H.
      shall, within 3 business days of such notice, send me a copy of the
      Company's Instructions Notice ("KH's NOTICE"). Within 4 business days from
      the date of KH's Notice, KH shall release to the Company the applicable
      number of Deeds of Transfer (as adjusted to an Adjustment Event). The
      Company's Instructions Notice shall be

<PAGE>

                                       6

      final and binding upon KH or any successor thereof, unless I provide KH
      with an appropriate injunctive order, preventing such release to the
      Company, issued by a court of competent jurisdiction prior to the end of
      such 4 days' period.

      (b) Following the second anniversary of the Effective Date of the
      Employment Agreement, upon my written request to KH accompanied with a
      letter of confirmation from the Company to the effect that until such
      anniversary I was an employee of the Company, KH shall release the first
      Deed of Transfer (for 180,000 Shares as adjusted to an Adjustment Event)
      to my possession.

      (c) Following the second anniversary of the Effective Date of the
      Employment Agreement, upon my written request to KH accompanied with a
      letter of confirmation from the Company to the effect that following such
      anniversary I was an employee of the Company for a successive period of
      three (3) months or any successive three (3) month period thereafter
      (i.e., three (3), six (6), nine (9), twelve (12), fifteen (15), eighteen
      (18), twenty-one (21) and/or twenty-four (24) months after the second
      anniversary of the Effective Date of the Employment Agreement), KH shall
      release one (1) Deed of Transfer (for 15,000 Shares as adjusted to an
      Adjustment Event) for each such three month period to my possession, as
      well as the first Deed of Transfer (for 180,000 Shares as adjusted to an
      Adjustment Event, provided however, that I did not previously request a
      release under the sub-section (b) above.

      (d) Upon the fulfillment of the condition set forth in Section 1(d) above
      and upon my written request accompanied by a written confirmation by the
      Company to the effect that on the fourth anniversary of the Effective Date
      of the Employment Agreement I was an employee of the Company, KH shall
      return all nine (9) Deeds of Transfer (as adjusted to an Adjustment Event)
      to my possession, provided however, that I did not previously request a
      release under sub-sections (b) and/or (c) above.

      (e) Upon my written request accompanied with a written confirmation from
      the Company to the effect that: (i) one of the events described in
      Sections 9.1 through 9.6 has occurred; and (ii) that until the occurrence
      of such event I was an employee of the Company, KH shall release to my
      possession any remaining Deeds of Transfer (as adjusted to an Adjustment
      Event) and that portion of my Shares shall no longer be subject to the
      repurchase or reversion right of the Repurchaser.

      (f) Upon the written request of the executor of my estate accompanied
      with: (i) a notarized copy of a death certificate issued upon my death;
      and (ii) written confirmation from the Company to the effect that until my
      death I was an employee of the Company, KH shall release to the possession
      of such executor any remaining Deeds of Transfer (as adjusted to an
      Adjustment Event).

4.    The Ordinary Shares that may be repurchased according to the provisions of
      this Undertaking shall confer upon their holder those rights attached to
      the Ordinary

<PAGE>

                                       7

      Shares of the Company, as set forth in the Company's Articles of
      Association as may be in effect from time to time.

5.    In order to comply with the provisions of this Undertaking, with the
      exception of transfer of the Shares that are no longer subject to
      repurchase, I further undertake the following in addition to any other
      restrictions on the my Shares in any other agreements and/or documents:

      (a)   Until the lapse of one (1) year following the Effective Date of the
            Employment Agreement, I shall not transfer, undertake to transfer,
            otherwise dispose of, pledge, charge or otherwise encumber
            (hereinafter a "DISPOSITION") 180,000 of my Shares (as adjusted to
            an Adjustment Event); and

      (b)   After the period set forth in sub-section (a) above and until the
            lapse of two (2) years following the Effective Date of the
            Employment Agreement, I shall not cause a Disposition of 120,000 of
            my Shares (as adjusted to an Adjustment Event); and

      (c)   After the period set forth in sub-section (b) above and until the
            lapse of three (3) years following the Effective Date of the
            Employment Agreement, I shall not cause a Disposition of 60,000 of
            my Shares (as adjusted to an Adjustment Event).

      (d)   I hereby further acknowledge and expressly agree that the share
            certificate(s) corresponding to the Shares (including any share
            certificate to be issued instead of or in addition to such shares as
            detailed in Section 3 above) may bear a legend indicating that such
            shares are subject to the restrictions provided for hereunder (the
            "RESTRICTIVE LEGEND"). Following the actual release to my possession
            of the Deeds of Transfer or any one of them, as applicable, upon
            delivery to the Company of my written request, I shall be entitled
            to have the Restrictive Legend removed from the share certificate
            issued to me by the Company, with respect to those Shares no longer
            subject to the repurchase right herein. In order to accomplish this
            I shall surrender my share certificate to the Company for its
            replacement with a new share certificate(s), not bearing the
            Restrictive Legend. Notwithstanding the foregoing, the new share
            certificate(s) will continue to bear the following legend:

            "The Shares represented by this certificate, have not been
            registered under the Securities Act of 1933 or under the securities
            laws of any state. These shares have been acquired for investment
            and not with a view to distribution or resale, and may not be sold,
            transferred, pledged or hypothecated in the absence of an effective
            registration statement for such shares under the Securities Act of
            1933 and such state securities laws as maybe applicable or the
            delivery to BIO-IT (BIO INFORMATION TECHNOLOGIES) LTD. of an opinion
            of counsel, reasonably acceptable to it,

<PAGE>

                                       8

            to the effect that registration is not required under such Act or
            such state securities laws.

            The foregoing restrictions terminate when the shares may be freely
            transferred without restriction under Rule 144, under the Securities
            Act of 1933, or any successor thereto, and may be disregarded
            thereafter.

            The sale or transfer of the securities represented by this
            certificate is subject to the terms and conditions of a certain
            Shareholders Agreement dated __________________ and certain
            schedules thereto, by and among the holder hereof and other
            shareholders of the Company. Copies of such agreement and schedules
            may be obtained upon written request to the Company's Secretary."

6.    I hereby represent and warrant to the Repurchaser that the portion of the
      Shares subject to repurchase in accordance with this Undertaking, when
      transferred to the Repurchaser shall be free of any lien, encumbrance
      and/or any right or obligation which may limit the right of the
      Repurchaser in such Shares.

7.    Notwithstanding the above, I reserve the right to transfer any portion of
      my Shares to a Permitted Transferee (as such term is defined in the
      Company's Articles of Association, as same may be amended from time to
      time), provided that any such transferee shall undertake, in writing, to
      fully comply with the provisions of this Undertaking, and shall, upon such
      transfer to such transferee and as a condition precedent to its validity,
      execute appropriate Deed(s) of Transfer, mutatis mutandis.

8.    I hereby agree that I shall have no rights of a shareholder or otherwise
      have any rights with respect to those Shares that have been repurchased,
      or if the Repurchaser is the Company, then with respect to the Shares that
      have reverted back to the Company, all in accordance with the provisions
      set forth above. Subject to the restrictions appearing in this
      undertaking, the Company's Articles of Association, or any other agreement
      to which I am a party, I reserve all rights of a shareholder of the
      Company with respect to those Shares that have not been repurchased or
      have not reverted back to the Company, as applicable.

9.    Notwithstanding anything to the contrary herein, upon the occurrence of
      any one of the following events prior to the end of the Term of Service
      and provided that until the occurrence of any such event I am an employee
      of the Company, the Shares shall no longer be subject to the
      repurchase/reversion provisions set forth above and the Repurchaser or the
      Company, as applicable, shall thereafter have no right to have such Shares
      revert back or transferred to it:

      9.1   upon the consumption of a merger of the Company into another entity
            where the Company is not the surviving entity of the merger
            transaction;

      9.2   upon the consummation of an acquisition of all or substantially all
            of the Company's assets;

<PAGE>

                                       9

      9.3   upon the consummation of an acquisition of all or substantially all
            of the Company's securities, except where the acquirer is at the
            time of such acquisition a 25% or more shareholder in the Company;

      9.4   upon my disability as such term is defined in the Employment
            Agreement;

      9.5   upon the consummation of the Company's initial public offering of
            its securities to the public; and

      9.6   upon Termination Without Cause; and

      9.7   upon my death.

10.   In connection with the deposit of the Deeds of Transfer with KH, both the
      Company and myself will execute a form of amended escrow agreement with
      KH, in the form attached to the Amendment as ANNEX 5 (the "AMENDED ESCROW
      AGREEMENT"). The Amended Escrow Agreement shall be executed simultaneously
      with the execution of this Amended Undertaking.

<PAGE>

                                       10

IN WITNESS WHEREOF, I have executed this amended undertaking as of the date
written above.

DR. OREN BECKER

____________________________

Witness to Signature

Name:_____________________

Date:______________________

Signature:_____________________

We the undersigned, accept and acknowledge the terms of this Amended
Undertaking.

BIO-IT (BIO INFORMATION TECHNOLOGIES) LTD.

____________________________
By:
Title:

<PAGE>

                                       11

                                    EXHIBIT A

                           Deed of Transfer of Shares

I, Dr. Oren Becker, holder of Israeli identity card number ___________________
(the "TRANSFEROR") does hereby transfer to _______________, holder of __________
(the "TRANSFEREE"), 15,000 Ordinary Shares of nominal value NIS 0.01 each and as
adjusted to an Adjustment Event (as such term is defined in the Undertaking to
which this deed constitutes an exhibit), of BIO-IT (BIO INFORMATION
TECHNOLOGIES) LTD. (the "COMPANY"), to be held by the Transferee, its executors,
administrators, and assigns, subject to the conditions on which the Transferor
held the shares at the time this document was signed, and the Transferee agrees
to accept the shares on these terms.

IN WITNESS WHEREOF we hereby sign on _____ of ______, _____.

____________________________                        ____________________________
Dr. Oren Becker                                     [Transferee]

Witness to signature:                               Witness to signature:

____________________________                        ____________________________
Name:_______________________                        Name: ______________________

<PAGE>

                                       12

                                                                         ANNEX 5

                            AMENDED ESCROW AGREEMENT

Entered into this 3 day of April, 2001 by and between K.H. TRUSTEES LTD., an
Israeli company whose address is 30 Kalisher Street, Tel-Aviv, Israel (the
"TRUSTEE"), BIO-IT (BIO INFORMATION TECHNOLOGIES) LTD., a company whose address
is Beit Shap, 3 Hayetzirah Street, Ramat Gan, Israel (the "COMPANY") and DR.
OREN BECKER, whose address is [ADDRESS] ("BECKER").

                                   WITNESSETH

WHEREAS the parties entered into an Escrow Agreement on October 31, 2000 (the
"ORIGINAL ESCROW AGREEMENT") in connection with an Employment Agreement of the
same date between Becker and the Company (the "ORIGINAL EMPLOYMENT AGREEMENT");
and

WHEREAS Becker and the Company entered into an Amendment to the Employment
Agreement (the "AMENDED EMPLOYMENT AGREEMENT") as the date of this Amended
Escrow Agreement and in connection with such Amendment, Becker and the Company
intend that the Trustee hold certain deeds of transfer of shares in trust in
accordance with the terms and conditions set forth herein;

NOW THEREFORE, in consideration of the undertakings and premises herein, the
parties hereto hereby agree to follows:

1.    GENERAL

The Original Escrow Agreement together with this Amended Escrow Agreement may be
referred to as the "ESCROW AGREEMENT". The Original Employment Agreement
together with the Amended Employment Agreement may be referred to as the
Employment Agreement. All terms not defined herein shall have the meanings
ascribed to them in the Amended Undertaking which constitutes an annex to the
Amended Employment Agreement (the "AMENDED UNDERTAKING") or the Employment
Agreement. Except as expressly set forth herein the Original Escrow Agreement
remains in full force and effect and is not amended, altered or modified.

SECTION 2 OF THE ORIGINAL ESCROW AGREEMENT SHALL BE REPLACED BY THE FOLLOWING:

2.    ESCROW AND RELEASE FROM ESCROW

2.1 By execution of this Amended Escrow Agreement, the Company and Becker, and
their respective successors and assigns, hereby irrevocably appoint the Trustee
to act in accordance with the provisions of the Escrow Agreement.

<PAGE>

                                       13

2.2 Simultaneously with the execution of this Amended Escrow Agreement, Trustee
shall deliver to Becker two (2) Deeds of Transfer executed by Becker in
connection with Sections 1(b) (for 120,000 Shares) and 1(c) (for 60,000 Shares)
of the original Undertaking (which was an exhibit to the Original Employment
Agreement) marked cancelled. Furthermore, simultaneously with the execution of
this Amended Escrow Agreement, Becker shall execute eight (8) Deeds of Transfer
of shares (each for 15,000 Shares) in connection with Section 1(b) of the
Amended Undertaking. Immediately following their execution, Becker shall deposit
these Deeds of Transfer with the Trustee to be held in escrow until their
release in accordance with the provisions of the Amended Undertaking and this
Amended Escrow Agreement.

2.3 (a) Upon the receipt of written notice from the Company of occurrence of any
one of the events described in Sections 1(a) through 1(c) of the Amended
Undertaking (the "COMPANY'S INSTRUCTIONS NOTICE") the Trustee shall, within
three (3) business days of such notice, send Becker a copy of the Company's
Instructions Notice (the "TRUSTEE'S NOTICE"). Within four (4) business days from
the date of the Trustee's Notice, Becker hereby irrevocably instructs the
Trustee to release to Company Deed(s) of Transfer as follows, unless prior to
the end of such 4 days' period Becker provides the Trustee (with a copy to the
Company) of any appropriate injunctive order preventing such release, issued by
a court of competent jurisdiction:

            (i) If said notice is issued in connection with Section 1(a) of the
      Amended Undertaking then the Trustee is hereby instructed to release to
      the Company all nine (9) Deeds of Transfer for an aggregate of 180,000
      Ordinary Shares of the Company (as adjusted to an Adjustment Event).

            (ii) If said notice is issued in connection with Section 1(b) of the
      Amended Undertaking then the Trustee is hereby instructed to release to
      the Company such number of Deeds of Transfer, representing the number of
      three month periods remaining between the date of termination of
      employment and the fourth anniversary of the Effective Date of the
      Employment Agreement (each such Deed of Transfer for an aggregate of
      15,000 Ordinary Shares of the Company (as adjusted to an Adjustment
      Event).

      (b) Unless the Deed(s) of Transfer have been released to the Company in
accordance with the provisions of the Undertaking or sub-section (a) above, the
Trustee may release the Deed(s) of Transfer to Becker's possession in accordance
with the following provisions:

            (i) Following the second anniversary of the Effective Date of the
      Employment Agreement, upon receipt of Becker's written request accompanied
      by a letter of confirmation from the Company to the effect that Becker was
      employed by the Company on such anniversary, the Trustee shall release to
      Becker the first Deed of Transfer (for 180,000 Shares as adjusted to an
      Adjustment Event).

<PAGE>

                                       14

            (ii) Following the second anniversary of the Effective Date of the
      Employment Agreement, upon receipt of Becker's written request accompanied
      by a letter of confirmation from the Company to the effect that Becker was
      employed by the Company on such anniversary for a successive period of
      three (3) months or any successive three (3) month period thereafter
      (i.e., three (3), six (6), nine (9), twelve (12), fifteen (15), eighteen
      (18), twenty-one (21) and/or twenty-four (24) months after the second
      anniversary of the Effective Date of the Employment Agreement), KH shall
      release one (1) Deed of Transfer (for 15,000 Shares as adjusted to an
      Adjustment Event) for each such three month period to Becker, as well as
      the such first Deed of Transfer (for 180,000 Shares as adjusted to an
      Adjustment Event), provided however, that Becker did not previously
      request a release under sub-section (b)(i) above.

      (c) Upon receipt of a written request from Becker accompanied by a written
confirmation from the Company to the effect that on the fourth anniversary of
the Effective Date of the Employment Agreement Becker was an employee of the
Company, the Trustee shall release all nine (9) Deeds of Transfer to Becker's
possession, provided however, that Becker did not previously request a release
under sub-sections (b)(i) and/or (b)(ii) above.

      (d) Upon receipt from Becker of a written request accompanied by a written
confirmation from the Company to the effect that: (i) one of the events
described in Sections 9.1 through 9.6 of the Undertaking has occurred; and (ii)
that until the occurrence of any such event Becker was an Employee of the
Company, the Trustee shall release to Becker's possession any remaining Deeds of
Transfer not previously released.

      (e) Upon the written request of the executor of Becker's estate
accompanied with : (i) a notarized copy of a death certificate issued upon
Becker's death; and (ii) written confirmation from the Company to the effect
that until Becker's death she was an employee of the Company, the Trustee shall
release to the possession of such executor any remaining Deeds of Transfer.

      (f) Becker hereby acknowledges, upon receipt of notice from the Company
that an Adjustment Event has occurred during the term of this Escrow Agreement,
the Trustee shall be entitled to rely on such notice and that the Automatic
Adjustment mechanism shall become effective as to the number of Shares covered
by the Deed(s) of Transfer.

4.    AMENDMENT OF SECTION 4.4 IN THE MISCELLANEOUS SECTION

Section 4.4 of the Original Escrow Agreement shall be amended as follows:

"4.4 This Escrow Agreement shall terminate under upon the release of all nine
(9) Deeds of Transfer to the Company or Becker, as applicable, in accordance
with the provisions hereof."

<PAGE>

                                       15

5.    COUNTERPARTS

This Amendment may be executed in one or more counterparts but all such separate
counterparts shall constitute but one and the same instrument; provided that,
although executed in counterparts, the executed signature pages of each such
counterparts may be affixed to a single copy of this Amendment as of the date
first above written.

IN WITNESS WHEREOF, the parties have executed this Amended Escrow Agreement as
of the date first above written.

K.H. TRUSTEES LTD.                    BIO-IT (BIO INFORMATION TECHNOLOGIES, LTD.

____________________                  __________________________________________
By:                                   By:
Title:                                Title:

DR. OREN BECKER

__________________________________

<PAGE>

                  BIO-I.T. (BIO INFORMATION TECHNOLOGIES) LTD.

                    SECOND AMENDMENT TO EMPLOYMENT AGREEMENT

                                      WITH

                                 DR. OREN BECKER

SECOND AMENDMENT dated as of August 29, 2001, between Dr. Oren Becker (the
"EMPLOYEE"), whose address is [ADDRESS], and BIO-I.T. (BIO INFORMATION
TECHNOLOGIES) LTD. (the "COMPANY"), a corporation incorporated under the laws of
the State of Israel, having its address at Beit Shap, 3 Hayetzirah Street, Ramat
Gan, Israel.

                                   WITNESSETH

WHEREAS the parties entered into an employment agreement dated as of October 31,
2000 as amended by the Amended Employment Agreement dated April 3, 2001, a copy
of which is attached hereto as Annex A (the "Employment Agreement"); and

WHEREAS following the closing of the transactions contemplated in a Share
Purchase Agreement dated August 29, 2001 (the "2001 SHARE PURCHASE AGREEMENT")
by and between the Company, Orbimed, Yozma, Frank (as such terms are defined
thereunder) and the other shareholders of the Company, the parties desire to
amend certain provisions of the Employment Agreement, all in accordance with the
terms of this Second Amendment.

NOW THEREFORE, in consideration of the premises and mutual agreements
hereinafter contained, the parties hereto agree as follows:

1.    Effect of Employment Agreement

Except as expressly set forth herein the Employment Agreement remains in full
force and effect and is not amended, altered or modified.

2.    Section 4 is modified to provide as follows:

      "4(a) The Company shall pay Employee a salary payable monthly and in
accordance with Company's normal and reasonable payroll practices, in a yearly
gross amount of NIS 413,700 which, with effect as of the consummation of the
closing of the 2001 Share Purchase Agreement, has been increased and equals NIS
517,125 (the "YEARLY GROSS SALARY"). This Yearly Gross Salary shall be payable
over a period of twelve months as of the month following the date of closing of
the 2001 Share Purchase Agreement, in equal monthly payments of NIS 43,093.5
each (the "MONTHLY GROSS SALARY"). The Monthly Gross Salary is exclusive of
amounts payable by Company for the social benefits set forth in Sections 4(b),
4(o), 4(d) and 4(e) and exclusive of the benefit in Section 5A below, for the
duration of this Agreement. The Monthly Gross Salary shall be linked to the
Israeli Consumer Price Index."

<PAGE>

3.    Section 4(e) is modified to provide as follows:

      3.1   After the words "determine the amount" and before the words "of any
            bonus," the words "and type" will be added.

      3.2   After the words "when determining the amount" and before the words
            "of bonus to be paid hereunder," the words "and type" will be added.

4.    Section 4(f) shall be added as follows:

      "4.(f) In the event that the Company effects a future round by third party
investors (i.e. by investors who are not shareholders of the Company and/or
Affiliates thereof) of at least USD$4,000,000 (net of expensed in one
transaction, at a per share price of at least US$5.789, the Employee will be
granted options to purchase 22,480 Ordinary Shares of the Company immediately
prior to the closing of such next financing round at an exercise price of
US$3.859. Such options shall vest during a four year period (25% each year). The
number of shares into which such option is exercisable and/or the exercise price
of such option are subject to adjustments in the event of any debt financing
which involves the issuance and/or undertaking to issue any securities
convertible into shares of the Company, other than an Exempted Issuance, as
defined under the Company's Articles of Association, share split and/or reverse
split, issuance of bonus shares, reclassification and/or any similar events,
effected after consummation of the closing of the 2001 Share Purchase
Agreement."

5.    Section 4(g) shall be added as follows:

      "4.(g) In the event that at any time during the Initial Term or the
Extended Term, as defined in the Employment Agreement, the Company consummates a
merger, consolidation or acquisition, sale, lease or other disposal of all or
substantially all of the Company's assets ("Sale"), the Company undertakes to
extend the Employee's employment with the Company (or any successor to the
Company or its assets) under the terms set forth in the Employment Agreement and
any amendments thereto, for a minimum of six months following such Sale or to
pay the Employee the equivalent of six (6) months compensation as provided for
in Sections 4(a) through 4(f) of the Employment Agreement as amended."

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

            [THE REMAINDER OF THIS PAGE IS INTENTIONALLY LEFT BLANK]

<PAGE>

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

BIO-I.T. (BIO INFORMATION TECHNLOGIES) LTD.

/s/ HAIM AVIV
--------------------------
Name:
Title:

/s/ OREN BECKER
--------------------------
DR. OREN BECKER

<PAGE>

                           PREDIX PHARMACEUTICALS LTD.

                     THIRD AMENDMENT TO EMPLOYMENT AGREEMENT

                                      WITH

                                 DR. OREN BECKER

THIRD AMENDMENT dated as of May 12, 2003, between Dr. Oren Becker (the
"EMPLOYEE"), whose address is [ADDRESS], and Predix Pharmaceuticals Ltd. (the
"COMPANY"), a corporation incorporated under the laws of the State of Israel,
having its address at Beit Shap, 3 Hayetzirah Street, Ramat Gan, Israel.

                                   WITNESSETH

WHEREAS   the parties entered into an employment agreement dated as of October
          31, 2000 (the "EMPLOYMENT AGREEMENT"), as amended by the Amended
          Employment Agreement dated April 3, 2001 (the "FIRST AMENDMENT") and
          by the Second Amendment to the Employment Agreement dated August 29,
          2001 (the "SECOND AMENDMENT"); and

WHEREAS   the Company is in need of additional funding and is contemplating
          receiving a bridge loan from certain of its shareholders (the "BRIDGE
          LOAN"); and

WHEREAS   such shareholders have conditioned the Bridge Loan upon certain
          conditions, among which is the execution of this Third Amendment.

NOW, THEREFORE, in consideration of the promises and mutual agreements
hereinafter contained, the parties hereto agree as follows:

1.    In order to avoid any conflict of interest between the Employee and the
      Company, the Employee hereby fully and irrevocably waives any and all
      rights to receive royalties and/or other payments from Ramot at Tel Aviv
      University Ltd., and /or Tel Aviv University relating (directly or
      indirectly) to the Technology assigned to the Company by Ramot or by the
      Tel Aviv University under the License Agreement dated September 18, 2000
      (the "Rights").

2.    Notwithstanding Section 1 above, in the event that the Employee's
      employment with the Company (or any affiliate thereof or its successor in
      business or an assignee or a transferee thereof) is terminated, the
      Employee shall be henceforward entitled to receive payments relating to
      Rights which do not result from Company activities during the Employee's
      employment term and which were developed after the termination of
      employment.

<PAGE>

3.    The Employee hereby agrees, in light of the business situation of the
      Company, to waive his rights under Section 4(f) which was added in the
      Second Amendment, and hence, said section is hereby canceled and of no
      further force and effect.

4.    Except as expressly set forth herein, the Employment Agreement and the
      Second Amendment remain in full force and effect.

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

/s/ SILVIA NOIMAN
--------------------------
PREDIX PHARMACEUTICALS LTD.

Name: Silvia Noiman

Title: COO

/s/ OREN BECKER
--------------------------
DR. OREN BECKER

<PAGE>

                           PREDIX PHARMACEUTICALS LTD.

                    FOURTH AMENDMENT TO EMPLOYMENT AGREEMENT

                                      WITH

                                 DR. OREN BECKER

FOURTH AMENDMENT dated as of August 8, 2003, between Dr. Oren Becker (the
"EMPLOYEE"), whose address is [ADDRESS], and Predix Pharmaceuticals Ltd. (the
"COMPANY"), a corporation incorporated under the laws of the State of Israel,
having its address at Beit Shap, 3 Hayetzirah Street, Ramat Gan, Israel.

                                   WITNESSETH

WHEREAS   the parties entered into an employment agreement dated as of October
          31, 2000 (the "EMPLOYMENT AGREEMENT"), as amended by the Amended
          Employment Agreement, the Second Amendment to the Employment Agreement
          and by the Third Amendment to the Employment Agreement (jointly, the
          "AMENDMENTS"); and

WHEREAS   the Company's shareholders have entered into an agreement with
          Physiome Sciences, Inc. ("PHYSIOME") whereby the Company is to become
          a fully owned subsidiary of Physiome, whose name will be changed to
          Predix Pharmaceuticals Holdings, Inc. (the "PARENT") (the "M&A
          TRANSACTION"); and

WHEREAS   it has been agreed between the Company and the Employee that, subject
          to and contingent upon the closing of the M&A Transaction (the
          "CLOSING") and as of such Closing and until resolved otherwise by the
          Company's Board of Directors, certain terms and conditions of the
          Employee's employment with the Company shall be amended as set forth
          herein;

NOW, THEREFORE, in consideration of the promises and mutual agreements
hereinafter contained, the parties hereto agree as follows:

1.    Except as expressly set forth herein, the Employment Agreement and all
      Amendments thereto remain in full force and effect and is not amended,
      altered or modified.

2.    This Fourth Amendment will enter into full force and effect only subject
      to and upon the closing of the M&A Transaction (the "CLOSING"). In the
      event that the Closing does not occur by September 30th, 2003, then this
      Fourth Amendment shall automatically expire and shall have no further
      force and effect.

3.    Subject to and contingent upon the Closing and as of such Closing and
      until resolved otherwise by the Company's Board of Directors, the Employee
      shall

<PAGE>

      serve as the Chief Scientific Officer, Computational Drug Development of
      the Company and the Parent, reporting to the CEO of the Parent.

4.    As of the Closing and subject thereto, Section 3(a) of the Employment
      Agreement shall be modified, so that the prior written notice given by
      either in case of termination without cause shall be extended to three (3)
      months. The same period will apply to Section 3(d) of the Employment
      Agreement.

5.    As of the Closing and subject thereto, Section 4(a) of the Employment
      Agreement shall be modified and replaced to provide as follows:

      "The Company shall pay Employee a salary payable monthly and in accordance
      with the Company's normal and reasonable payroll practices. At the Closing
      (and subject thereto), the July salary shall be increased from the amount
      of NIS 56,281 [the July salary] by an amount in NIS equal to $417
      converted into NIS at the representative rate of exchange of the date of
      the Closing (the "MONTHLY GROSS SALARY"). The Monthly Gross Salary shall
      henceforward be in NIS and fully linked to the Israeli Consumer Price
      Index. The Monthly Gross Salary is exclusive of amounts payable by the
      Company for the social benefits set forth in Sections 4(b), 4(c) and 4(d)
      and 4(e) and exclusive of the benefit in Section 5A below, for the
      duration of this Agreement."

6.    The Employee will be eligible for a performance-based bonus on July 31,
      2004 (the "PERFORMANCE BONUS"). The base target amount for the performance
      Bonus is $25,000 (twenty five thousand US Dollars), assuming that all
      performance targets set by the Board and/or by the CEO are achieved
      however, any payment of bonus shall be entirely under the discretion of
      the Board, and subject to the recommendation of the CEO.

7.    In addition to the above, following the Closing, the Employee shall be
      entitled to receive shares and options under Appendix A of the Parent's
      2003 Stock Incentive Plan, adjusted for Israeli residents (the "PLAN")
      under all terms of the Plan and provided that the Employee executes the
      applicable Option Agreements and further complies with all the terms of
      the Plan, as follows:

      7.1.  65,553 shares of Class A Common Stock of the Parent. These shares
            will be unrestricted.

      7.2   Option to purchase 339,114 shares of Class A Common Stock of the
            Parent, granted as follows:

            7.2.1. Option to purchase 109,884 shares of Class A Common Stock of
                   the Parent, a term of ten (10) years, at an exercise price of
                   $0.10 per share, fully vested at the Closing.

            7.2.2. Option to purchase 229,230 shares of Class A Common Stock of
                   the Parent, a term of ten (10) years, at an exercise price of
                   $0.10 per share, having the following vesting schedule:

<PAGE>

                  -     57,307 shares vesting on July 31, 2004

                  -     57,307 shares vesting on July 31, 2005

                  -     57,307 shares vesting on July 31, 2006

                  -     57,309 shares vesting on July 31, 2007

8.    Except as expressly set forth herein, the Employment Agreement and all
      Amendments thereto remain in full force and effect and is not amended,
      altered or modified.

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

/s/ MICHAEL KAUFFMAN
--------------------------
PREDIX PHARMACEUTICALS LTD.

Name: Dr. Michael Kauffman
Title: President and CEO

/s/ OREN BECKER
--------------------------
DR. OREN BECKER

<PAGE>

PREDIX
PHARMACEUTICALS

                                                                    June 9, 2005

Oren Becker, PhD
[ADDRESS]

      RE:   Extension of Employment Agreement dated as of October 31, 2000, as
            amended in early 2001, August 29, 2001, May 12, 2003 and August 11,
            2003, between Oren Becker, PhD and Predix Pharmaceuticals Ltd.
            (collectively, the "Employment Agreement")

Dear Dr. Becker:

      As you may be aware, the Initial Term of the Employment Agreement has
expired and we would like to memorialize our understanding as to your continued
employment with us. Therefore, it is our desire to extend the term of the
Employment Agreement until December 31, 2005 and for one or more additional
one-year periods until otherwise terminated by either party in accordance with
Section 3 of the Employment Agreement, including by either party without cause
on three (3) months prior written notice to the other party.

      To the extent that there are any conflicts between the terms of this
letter and the Employment Agreement, this letter will be deemed to have
superseded those of the Employment Agreement and shall govern the matter in
question.

      I would appreciate it if you would provide me with your approval of the
extension of the Employment Agreement as set forth above by signing and dating
this letter as indicated below at the earliest opportunity.

                                                   Best regards,

                                                   /s/ MICHAEL G. KAUFFMAN

                                                   Michael G. Kaufman

The undersigned hereby acknowledges and agrees to the terms and conditions
above.

/s/ OREN BECKER                                     June 9, 2005
---------------                                     -----------------
Oren Becker, PhD                                    Date

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