Document:

EXHIBIT
      10.8

    

      THE
        TALBOT BANK OF EASTON, MARYLAND

      SUPPLEMENTAL
        DEFERRED COMPENSATION PLAN

       

      TRUST
        AGREEMENT

       

       

      Effective
        as of December 11, 1996

      

      

      
        
           

        

        
           

          
            

          

        

        
          Table
            of Contents

          
          

        

      

      THE
        TALBOT BANK OF EASTON, MARYLAND

      SUPPLEMENTAL
        DEFERRED COMPENSATION PLAN TRUST AGREEMENT

       

      Effective
        as of December 11, 1996

      

      TABLE
        OF CONTENTS

      

      ARTICLE
        1

      ESTABLISHMENT
        OF TRUST

      
        	 	 	 
	
                1.1

              	
                TRUST
                  DEPOSITS

              	
                1

              
	
                1.2

              	
                IRREVOCABILITY

              	
                1

              
	
                1.3

              	
                GRANTOR
                  TRUST

              	
                1

              
	
                1.4

              	
                PLAN
                  ASSETS

              	
                2

              
	 	 	 

      

      ARTICLE
        2

      THE
        PLAN

      
        	 	 	 
	
                2.1

              	
                BENEFIT
                  PROVISIONS

              	
                2

              
	
                2.2

              	
                CONFLICTS
                  WITH TRUST

              	
                2

              
	
                2.3

              	
                TRUSTEE
                  RELIANCE

              	
                2

              
	 	 	 

      

      ARTICLE
        3

      PAYMENTS
        TO THE PLAN PARTICIPANT OR BENEFICIARIES

      
        	 	 	 
	
                3.1

              	
                PAYMENT
                  SCHEDULE AND TAXES 

              	
                2

              
	
                3.2

              	
                PAYMENTS
                  BY EMPLOYER 

              	
                2

              
	
                3.3

              	
                CESSATION
                  OF PAYMENTS: RECOMMENCEMENT 

              	
                3

              
	 	 	 

      

      ARTICLE
        4

      PAYMENTS
        TO EMPLOYER

      
        	 	 	 
	
                4.1

              	
                PAYMENTS
                  TO THE EMPLOYER

              	
                3

              
	 	 	 

      

      ARTICLE
        5

      INVESTMENT
        AUTHORITY

      
        	 	 	 
	
                5.1

              	
                TRUSTEE
                  AUTHORITY

              	
                3

              
	
                5.2

              	
                TYPES
                  OF INVESTMENTS

              	
                3

              
	 	 	 

      

      ARTICLE
        6

      DISPOSITION
        OF INCOME

      
        	 	 	 
	
                6.1

              	
                DISPOSITION
                  OF INCOME

              	
                3

              
	 	 	 

      

      ARTICLE
        7

      RESPONSIBILITY
        OF THE TRUSTEE

      
        	 	 	 
	
                7.1

              	
                TRUSTEE
                  INDEMNIFICATION

              	
                4

              
	
                7.2

              	
                LIMITATION
                  ON POWERS

              	
                4

              
	 	 	 

      

      ARTICLE
        8

      FEES
        AND EXPENSES OF THE TRUSTEE

      
        	 	 	 
	
                8.1

              	
                TRUSTEE
                  EXPENSES AND FEES

              	
                4

              
	 	 	 

      

      ARTICLE
        9

      RESIGNATION
        AND REMOVAL OF THE TRUSTEE

      
        	 	 	 
	
                9.1

              	
                TRUSTEE
                  RESIGNATION 

              	
                4

              
	
                9.2

              	
                TRUSTEE
                  REMOVAL 

              	
                4

              
	
                9.3

              	
                TRANSFER
                  OF ASSETS 

              	
                4

              
	
                9.4

              	
                COURT'S
                  APPOINTMENT OF SUCCESSOR 

              	
                5

              
	 	 	 

      

      ARTICLE
        10

      APPOINTMENT
        OF SUCCESSOR

      
        	 	 	 
	
                10.1

              	
                APPOINTMENT
                  OF SUCCESSOR

              	
                5

              
	 	 	 

      

      ARTICLE
        11

      AMENDMENT
        OR TERMINATION

      
        	 	 	 
	
                11.1

              	
                AMENDMENT

              	
                5

              
	
                11.2

              	
                TERMINATION

              	
                5

              
	 	 	 

      

      ARTICLE
        12

      MISCELLANEOUS

      
        	 	 	 
	
                12.1

              	
                VALIDITY
                  OF PROVISIONS

              	
                5

              
	
                12.2

              	
                NO
                  ASSIGNMENT OF BENEFITS

              	
                5

              
	
                12.3

              	
                GOVERNING
                  LAW

              	
                5

              
	
                12.4

              	
                SUCCESSOR
                  AND ASSIGNS

              	
                6

              
	
                12.5

              	
                TRUSTEE'S
                  SUCCESSORS

              	
                6

              
	
                12.6

              	
                HEADINGS

              	
                6

              
	 	 	 

      

      ARTICLE
        13

      EFFECTIVE
        DATE

      
        	 	 	 
	
                13.1

              	
                EFFECTIVE
                  DATE

              	
                6

              

      

      

       

      
        
           

        

        
           

          
            

          

        

        
          Table
            of Contents

          
          

        

      

      THE
        TALBOT BANK OF EASTON, MARYLAND

      SUPPLEMENTAL
        DEFERRED COMPENSATION PLAN TRUST AGREEMENT

       

      RECITALS

       

      THIS
        TRUST AGREEMENT is made and entered into effective as of the ________ day
        of
        ___________, 1996 by and between The Talbot Bank of Easton, Maryland (the
        “Employer”), which sponsors the Talbot Bank of Easton, Maryland, Supplemental
        Deferred Compensation Plan (the “Plan”), and Alex. Brown Capital Advisory &
        Trust Company, a corporation having trust powers under the laws of the State
        of
        Maryland (the “Trustee”). 

       

      The
        Employer has established the Plan which is intended to be a “top hat plan”
        (i.e., an unfunded plan of deferred compensation maintained for members of
        a
        select group of management or highly compensated employees) under sections
        201(2), 301(a)(3) and 401(a)(1) of the Employee Retirement Income Security
        Act
        of 1974 (“ERISA”). The Plan has been created for the sole benefit of the
        Employer's President and Chief Executive Officer. 

       

      The
        Plan
        provides for the Employer to pay all Plan benefits from its general revenues
        and
        assets. The Employer wishes to establish an irrevocable trust fund for the
        purpose of providing a source from which to pay benefits under the Plan,
        such
        trust fund being subject to the claims of the Employer's creditors in the
        event
        of the Employer's bankruptcy or insolvency. Contributions to the trust fund
        shall be held by the Trustee and invested, reinvested and distributed in
        accordance with the provisions of this Trust Agreement. 

       

      The
        Trust
        established by this Trust Agreement is intended to be a “grantor trust,” with
        the result that the corpus and income of the trust are treated for tax purposes
        as assets and income of the Employer. 

       

      NOW,
        THEREFORE, in consideration of the mutual covenants contained herein, the
        Employer and the Trustee, intending to be legally bound, declare and agree
        as
        follows: 

       

      ARTICLE
        1

       

      ESTABLISHMENT
        OF TRUST

       

      1.1  TRUST
        DEPOSITS.
        The
        Employer shall deposit with the Trustee, in trust, certain funds as required
        under the Plan, which funds shall be held and disposed of by the Trustee
        as
        provided in this Trust Agreement. 

       

      1.2  IRREVOCABILITY.
        The
        Trust shall be irrevocable.

       

      1.3  GRANTOR
        TRUST.
        The
        Trust is intended to be a grantor trust, of which the Employer is the grantor,
        within the meaning of sub-part E, part I, subchapter J, chapter 1, subtitle
        A of
        the Internal Revenue Code of 1986, as amended, and shall be construed
        accordingly.

       

      
        
           

        

        
          -1-

          
            

          

        

        
          Table
            of Contents

        

      

       

      1.4  PLAN
        ASSETS.
        The
        principal of the Trust, and any earnings thereon, shall be held separate
        and
        apart from other funds of the Employer and shall be used exclusively for
        the
        uses and purposes of the Plan and general insolvency creditors of the Employer
        as herein set forth. Any assets held by the Trust will be subject to the
        claims
        of the Employer's general creditors under federal and state law.

       

      ARTICLE
        2

       

      THE
        PLAN

       

      2.1  BENEFIT
        PROVISIONS.
        The
        terms of the Plan shall govern the amount, form and timing of benefit payments
        under a Plan to which the Plan Participant or a Beneficiary is entitled.
        

       

      2.2  CONFLICTS
        WITH TRUST.
        Notwithstanding any other provision of this Trust or the Plan to the contrary,
        in the event any provision of the Plan is inconsistent with any provision
        of
        this Trust, the terms of this Trust shall control. 

       

      2.3  TRUSTEE
        RELIANCE.
        Any
        direction received by the Trustee from the Employer concerning the Trustee's
        receipt, holding, disposition, investment, or other treatment of the assets
        of
        the Trust shall conclusively be deemed to be in accordance with the terms
        of the
        Plan, and the Trustee shall be entitled to rely, and shall be held harmless
        by
        the Employer in relying, on the propriety of such direction. 

       

      ARTICLE
        3

       

      PAYMENTS
        TO THE PLAN PARTICIPANT OR BENEFICIARIES

       

      3.1  PAYMENT
        SCHEDULE AND TAXES.
        The
        Employer shall deliver to the Trustee a schedule (the “Payment Schedule”) that
        indicates the amounts payable in respect of the Plan Participant upon his
        becoming entitled to receive a distribution from the Plan and that provides
        the
        form in which such amounts are to be paid (as provided for and available
        under
        the Plan) and the time of commencement for the payment of such amounts. The
        Trustee shall make payments to the Plan Participant or his Beneficiaries
        in
        accordance with such Payment Schedule. The Employer shall make provision
        for the
        reporting and withholding of any federal, state or local taxes that may be
        required to be withheld with respect to the payment of benefits pursuant
        to the
        terms of the Plan and shall pay amounts withheld to the appropriate taxing
        authorities. The Trustee will have no responsibilities of any kind with respect
        to any such withholding, but shall provide to the Employer any information
        concerning the Trust in the possession of the Trustee which reasonably is
        requested by the Employer with respect to the Employer's withholding obligations
        under the Plan and this Trust. The Employer will indemnify and hold harmless
        the
        Trustee for any liability incurred by the Trustee with respect to such
        withholding. 

       

      3.2  PAYMENTS
        BY EMPLOYER.
        The
        Employer may make payment of benefits directly to the Plan Participant or
        his
        Beneficiaries as they become due under the terms of the Plan. The Employer
        shall
        notify the Trustee of the Employer's decision to make payment of benefits
        directly prior to the time amounts are payable to the Plan Participant or
        his
        Beneficiaries.

       

      
        
           

        

        
          -2-

          
            

          

        

        
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      3.3  CESSATION
        OF PAYMENTS: RECOMMENCEMENT.
        Upon
        notice from the Employer, the Trustee shall suspend or, if applicable,
        recommence payments in accordance with the terms of such notification.

       

      ARTICLE
        4

       

      PAYMENTS
        TO EMPLOYER

       

      4.1  PAYMENTS
        TO THE EMPLOYER.
        Except
        as provided herein, the Employer shall not have any right or power to direct
        the
        Trustee to return to the Employer or to divert to others any of the Trust
        assets
        before all payments of benefits have been made to Plan Participants or his
        Beneficiaries pursuant to the terms of the Plan. 

       

      ARTICLE
        5

       

      INVESTMENT
        AUTHORITY

       

      5.1  TRUSTEE
        AUTHORITY.
        All
        rights associated with assets of the Trust shall be exercised by the Trustee
        or
        the person designated by Trustee, and shall in no event be exercisable by
        or
        rest with the Plan Participant or the Employer. 

       

      5.2  TYPES
        OF INVESTMENTS.
        The
        Trustee shall invest and reinvest the principal and income of the Trust Fund
        and
        keep the Trust Fund invested without distinction between principal and income
        in
        Institutional Shares of the following Flag Investor Mutual Funds managed
        by
        Alex. Brown Incorporated (or its affiliates): 

       

      Intermediate
        -Term Income Fund, Inc.

      Equity
        Partners Fund, Inc.

      Value
        Builder Fund, Inc. 

       

      Investments
        of the aforesaid mutual funds are subject to the Annual Fund Operating Expenses
        associated with each such mutual fund. 

       

      The
        Employer and the Trustee can agree from time to time to alter, amend or modify
        the aforesaid form of investments. 

       

      ARTICLE
        6

       

      DISPOSITION
        OF INCOME

       

      6.1  DISPOSITION
        OF INCOME.
        During
        the term of this Trust, all income received by the Trust shall be accumulated
        and reinvested.

       

      
        
           

        

        
          -3-

          
            

          

        

        
          Table
            of Contents

        

      

       

      ARTICLE
        7

       

      RESPONSIBILITY
        OF THE TRUSTEE

       

      7.1  TRUSTEE
        INDEMNIFICATION.
        

       

      (a)  If
        the
        Trustee undertakes or defends any litigation arising in connection with this
        Trust, the Employer agrees to indemnify the Trustee against the Trustee's
        costs,
        expenses and liabilities (including, without limitation, attorneys' fees
        and
        expenses) relating thereto and to be primarily liable for such payments.
        

       

      (b)  The
        Employer agrees to hold harmless and indemnify the Trustee, to the fullest
        extent permitted under applicable law, for any and all liabilities of any
        kind
        incurred by the Trustee in connection with the Trust (i) relating to periods
        of
        time prior to the Trustee's becoming Trustee or (ii) relating to periods
        of time
        while the Trustee is Trustee but not related to the Trustee's gross negligence,
        willful misconduct, or breach of its duties hereunder. 

       

      7.2  LIMITATION
        ON POWERS.
        Notwithstanding any powers granted to the Trustee pursuant to this Trust
        Agreement or to applicable law, the Trustee shall not have any power that
        could
        give this Trust the objective of carrying on a business and dividing the
        gains
        therefrom, within the meaning of section 301.7701-2 of the Procedure and
        Administrative Regulations promulgated pursuant to the Internal Revenue Code.
        

       

      ARTICLE
        8

       

      FEES
        AND EXPENSES OF THE TRUSTEE

       

      8.1  TRUSTEE
        EXPENSES AND FEES.
        The
        Employer shall pay all expenses of administering the Trust and all Trustee's
        fees and expenses with respect to which the Trustee is entitled to compensation
        or reimbursement. 

       

      ARTICLE
        9

       

      RESIGNATION
        AND REMOVAL OF THE TRUSTEE

       

      9.1  TRUSTEE
        RESIGNATION.
        The
        Trustee may resign at any time by written notice to the Employer, which shall
        be
        effective thirty (30) days after receipt of such notice unless the Employer
        and
        the Trustee agree otherwise. 

       

      9.2  TRUSTEE
        REMOVAL.
        The
        Trustee may be removed by the Employer, on thirty (30) days notice or upon
        shorter notice accepted by the Trustee. 

       

      9.3  TRANSFER
        OF ASSETS.
        Upon
        resignation or removal of the Trustee, all assets shall subsequently be
        transferred to the successor Trustee, which transfer shall be completed no
        later
        than sixty (60) days after such resignation or removal.

       

      
        
           

        

        
          -4-

          
            

          

        

        
          Table
            of Contents

        

      

       

      9.4  COURT'S
        APPOINTMENT OF SUCCESSOR.
        If the
        Trustee resigns or is removed, a successor shall be appointed, in accordance
        with the following section, by the effective date of resignation or removal.
        If
        no such appointment has been made, the Trustee may apply to a court of competent
        jurisdiction for appointment of a successor or for instructions. All expenses
        of
        the Trustee in connection with the proceeding shall be paid by the Employer.
        

       

      ARTICLE
        10

       

      APPOINTMENT
        OF SUCCESSOR

       

      10.1  APPOINTMENT
        OF SUCCESSOR.
        If the
        Trustee resigns or is removed in accordance with Sections 9.1 or 9.2 hereof,
        the
        Employer may appoint any third party, such as a bank trust department or
        other
        party that may be granted corporate trustee powers under state law, as a
        successor to replace the Trustee upon resignation or removal. The appointment
        shall be effective when accepted in writing by the new trustee, who shall
        have
        all of the rights and powers of the former trustee, including ownership rights
        in the Trust assets. The former trustee shall execute any instrument reasonably
        necessary to evidence the transfer. 

       

      ARTICLE
        11

       

      AMENDMENT
        OR TERMINATION

       

      11.1  AMENDMENT.
        This
        Trust Agreement may be amended by a written instrument executed by the Trustee
        and the Employer. Notwithstanding the foregoing, no such amendment shall
        make
        the Trust revocable after it has become irrevocable in accordance herewith.
        

       

      11.2  TERMINATION.
        The
        Trust shall not terminate until the date on which the Plan Participant and
        his
        Beneficiaries no longer are entitled to benefits pursuant to the terms of
        Article 3 hereof. Upon termination of the Trust, any assets remaining in
        the
        Trust shall be returned to the Employer. 

       

      ARTICLE
        12

       

      MISCELLANEOUS

       

      12.1  VALIDITY
        OF PROVISIONS.
        Any
        provision of this Trust Agreement prohibited by law shall be ineffective
        to the
        extent of any such prohibition, without invalidating the remaining provisions
        hereof 

       

      12.2  NO
        ASSIGNMENT OF BENEFITS.
        Benefits payable on behalf of a Plan participant and his or her beneficiaries
        under this Trust Agreement may not be anticipated, assigned (either at law
        or in
        equity), alienated, pledged, encumbered or subjected to attachment, garnishment,
        levy, execution or other legal or equitable process. 

       

      12.3  GOVERNING
        LAW.
        This
        Trust Agreement shall be governed by and construed in accordance with the
        laws
        of the State of Maryland.

       

      
        
           

        

        
          -5-

          
            

          

        

        
          Table
            of Contents

        

      

       

      12.4  SUCCESSOR
        AND ASSIGNS.
        This
        Agreement shall be binding upon and inure to the benefit of the Employer
        and the
        Trustee and their respective successors and assigns. 

       

      12.5  TRUSTEE'S
        SUCCESSORS.
        Any
        corporation into which the Trustee may be merged or with which it may be
        consolidated, or any corporation resulting from any merger, reorganization
        or
        consolidation to which the Trustee may be a party, or any corporation to
        which
        all or substantially all of the trust business of the Trustee may be
        transferred, shall be the successor of the Trustee hereunder without the
        execution or filing of any instrument or the performance of any act.

       

      12.6  HEADINGS.
        Headings of the Sections and Articles of this Agreement are included for
        convenience only and shall not control the meaning or interpretation of any
        provision of this Agreement. 

       

      ARTICLE
        13

       

      EFFECTIVE
        DATE

       

      13.1  EFFECTIVE
        DATE.
        The
        effective date of this Trust Agreement is December 11, 1996.

       

      
        
           

        

        
          -6-

          
            

          

        

        
          Table
            of Contents

          
          

        

      

      IN
        WITNESS WHEREOF,
        this
        Trust Agreement has been duly executed under seal by the parties hereto,
        effective as of the day and year first above written. 

       

      
        	ATTEST/WITNESS:	 	 	THE
                TALBOT BANK OF EASTON, MARYLAND
	 	 	 	 
	 	 	 	 
	/s/ 	 	 	/s/ 
	
                

              	 	 	
                
                  

                

              
	Print
                Name:	 	 	
                Print
                  Name:  Jerome M. McConnell
Date:

              	
                (SEAL)

              

      

       

      
        
          	ATTEST/WITNESS:	 	 	ALEX,
                  BROWN CAPITAL ADVISORY & TRUST COMPANY, TRUSTEE
	 	 	 	 
	 	 	 	 
	/s/ 	 	 	/s/ 
	
                  

                	 	 	
                  
                    

                  

                
	Print
                  Name:	 	 	
                  Print
                    Name:
Date:

                	
                  (SEAL)

                

        

         

         

        
          
             

          

            -7-Unassociated Document

    Exhibit
      10.1

    

      To:
        Yaniv
        Arieli

      Date:
        August 18th,
        2005

      

      Dear
        Employee,

      

      Personal
        and Special Employment Agreement (“Special Agreement”)

      

      We
        are
        pleased to extend an offer of employment to you at Ceva D.S.P Ltd. (the
“Company”),
        as a
        new employee of the Company for every purpose and matter and this commencing
        on
        August 1st,
        2005.

      

      You
        shall
        be employed by the Company in the position of: CFO

      

      You
        shall
        be subject and report to CEO or any other officer as the Company decides
        and
        directs from time to time. For the avoidance of any doubt, it is hereby
        expressed that the Company may alter your position and subordination, at
        its
        discretion. 

      

      
        	1.  	
                Salary
                  and Overtime Pay

              

      

      

      
        	a.  	
                As
                  compensation for your performance, the Company shall pay you a
                  basic gross
                  annual salary of 126,000 USD (the “Salary”),
                  which shall be paid in NIS according to the exchange rate of the
                  USD at
                  the day of the payment.

              

      

      
        	 	 

      

      
        	b.  	
                In
                  addition to the Salary, you shall be paid annually, the gross amount
                  of
                  14,000 USD, which shall be paid in NIS according to the exchange
                  rate of
                  the USD at the day of the payment, as global consideration for
                  any
                  overtime you may work beyond the Company customary working hours
                  for
                  employees of your position, and this, irrespective of the actual
                  overtime
                  worked (the "Overtime
                  Pay").
                  

              

      

      

      
        	c.  	
                The
                  above-mentioned Salary and Overtime Pay includes a cost-of-living
                  supplement based on the cost of living index most recently published
                  prior
                  to the date of this Agreement, and shall be updated in accordance
                  with the
                  adjustments applicable by the law from time to time.
                  

              

      

      

      For
        the
        avoidance of any doubt, it is hereby expressed that the aforementioned Salary
        and Overtime Pay constitutes the overall consideration for your work and
        in view
        of your position and status you shall not be entitled to any additional
        consideration, of any form, for your work during overtime hours and on weekends
        or holidays, insofar as required of you.

      

      
        	2.  	
                Employment
                  Period and Termination
                  Thereof

              

      

      

      
        	2.1  	
                Your
                  employment with the Company shall commence on the date specified
                  in the
                  Special Agreement, and shall not be limited in time.
                  

              

      

      

      
        	2.2  	
                In
                  the event that the duration of your employment with the Company
                  shall
                  exceed a period of three (3) months, your employment may be terminated
                  by
                  either party at any time for any reason pursuant to the delivery
                  of 6
                  months prior written notice by the terminating party (the “Notice
                  Period”).

              

      

       

      
        
          

        

      

      
      

      

      
        	2.3  	
                The
                  provisions of Section 3 of Appendix "A" attached hereto shall apply
                  to the
                  terms of termination of your
                  employment.

              

      

      

      
        	                           3.	
                Company
                  Car 

              

      

      

      
        	 	 	
                You
                  shall be entitled to a Company car in accordance with the Company’s
                  internal policies. The Company shall bear all expenses relating
                  to the use
                  and maintenance of the car, excluding taxes imposed on you as a
                  result of
                  the car being placed at your disposal pursuant to the instructions
                  of the
                  Israeli tax authorities and excluding fines and/or parking
                  tickets.

              

      

      

      Upon
        the
        termination of your employment for any reason, with or without cause, you
        shall
        be obligated to return the car to the Company in a proper state of repair.
        For
        the avoidance of doubt, it is hereby clarified that you shall not be entitled
        to
        place a lien on the car to secure any debts or liabilities of the Company
        to you
        or in any other instance whatsoever.

      And
        all
        subjects to Car Procedure plan of the Company.

      

         

      4. 
Working
        Hours

      

      Your
        working hours shall be from 08:00 AM - 17:15 PM, including 3⁄4 hour for lunch
        break, 5 days per week, on a full time job basis. 

      As
        aforementioned, you are expected to work during overtime hours if it is so
        required in order to fulfill your obligations according to this Special
        Agreement.

      

      5. 
Manager’s
        Insurance Plan and Severance Pay

      

      
        	           5.1 
 	
                Within
                  the framework of the Company policy, the Company shall allocate
                  to a
                  Managers Insurance Policy or to a Pension Fund (the “Insurance
                  Fund”),
                  according to your choice, which shall remain property of the Company,
                  an
                  aggregated amount equal to thirteen and a third percent (13.33%)
                  in the
                  following portions; five percent (5%) of the Salary and the Overtime
                  Pay
                  for pension compensation and eight and a third percent (8.33%)
                  of the
                  Salary and the Overtime Pay to severance compensation. The Company
                  shall
                  deduct from the Salary an aggregated amount equal to five percent
                  (5%) of
                  the Salary and the Overtime Pay for the Insurance Fund.
                  

              

      

      
        

        
          	                 	
                  
                    In
                      addition, the company shall allocate money for disability insurance
                      in
                      accordance with the company’s accepted
                      policies.

                  

                

        

      

       

       

      
        	           5.2 
                	
                The
                  aforementioned allocations shall be on account of severance pay
                  according
                  to the Severance Pay Law 5723-1963 (the “Severance
                  Pay Law”),
                  if you are entitled to same. 

              

      

      

      
        	           5.3 	
                In
                  the event that the Company terminates your employment, the Company
                  shall
                  release the monies accumulated on your behalf in the Insurance
                  Fund,
                  unless you are not eligible to severance pay under the provisions
                  of the
                  Severance Pay Law and/or you are in breach of your fiduciary duty,
                  including but not limited to a commission of a felonious crime
                  that is
                  connected with your employment and/or you are in breach of Section
                  3.4 of
                  Appendix "A" attached hereto and/or you are in breach of your obligations
                  re confidentiality, non-competition and intellectual property,
                  as defined
                  in Section 4 of Appendix "A" attached
                  hereto.

              

      

       

      
        
          
          

        

        
          2

          
            

          

        

        
          
          

        

      

       

      
        	
                 5.4 
                  

              	
                Notwithstanding
                  the provisions of clause 5.3 above, it is hereby clarified that
                  in the
                  event of your resignation from the Company, the Company shall release
                  the
                  monies accumulated on your behalf in the pension component ("tagmulim")
                  within the Insurance Fund (employee's and employer's
                  contributions(,
                  and shall consider, at its sole discretion releasing to you the
                  monies
                  accumulated on your behalf in the severance component within the
                  Insurance
                  Fund, notwithstanding the fact that the Company is not obliged
                  to do so,
                  and in consideration with the circumstances in which your employment
                  was
                  terminated. 

              

      

      

      6. 
Advanced
        Study Fund

      

      The
        Company shall make monthly contributions on your behalf to a recognized advanced
        study fund (the “Study
        Fund”)
        in an
        amount equal to 7.5% of the Salary and the Overtime Pay. In addition, the
        Company shall deduct 2.5% from the Salary and the Overtime Pay to also be
        paid
        to the Study Fund. 

      

      

      7. 
Convalescence
        (“Havra’ah”) 

      

      You
        shall
        be entitled to 10 convalescence days per year, in accordance with Company's
        policy (however no less than the quota determined by Israeli Law). 

      

      

      8. 
Vacation

      

      
        	           8.1 
                	
                You
                  shall be entitled to an annual 23 working days paid vacation (the
                  "Annual
                  Vacation").

              

      

      

      
        	           8.2 
                 
	
                You
                  will coordinate any vacation of more than 3 days at least one month
                  in
                  advance with your supervisor. 

              

      

      

      
        	           8.3 
                 
	
                It
                  is hereby expressed that you must make every effort to exercise
                  your
                  Annual Vacation; however, if you are unable to utilize all the
                  vacation
                  days, you shall be entitled to accumulate the unused balance of
                  the
                  vacation days standing to your credit up to a ceiling of double
                  the number
                  of annual vacation days that you are entitled to accumulate according
                  to
                  Israeli Law (the “Ceiling"),
                  provided that you take at least seven consecutive annual working
                  days
                  vacation. 

              

      

      

      
        	           8.4 	
                If
                  you accumulate vacation days exceeding the Ceiling, the balance
                  shall be
                  redeemed at the beginning of each calendar
                  year.

              

      

       

      
        
          
          

        

        
          3

          
            

          

        

        
          
          

        

      

      
        	           8.5 	
                The
                  Company may instruct you to use your Annual Vacation, in the event
                  that
                  Company employees are sent by the Company on an organized vacation.
                  

              

      

      

      9. 
Sick
        Leave

      

      You
        shall
        be entitled to 18
        annual paid sick days.
        All
        absences must be accompanied by a medical certificate.

      

      Sick
        leave may be accumulated up to a ceiling of 90 days, but may not be redeemed
        under any circumstances.

       

      10.   
        Military
        Reserve Duty

      

      In
        the
        event that you are called to military reserve duty (including a “one-day”
        military reserve duty), you shall immediately notify the Company, and the
        Company shall pay you your full consideration for those dates you are called
        to
        military reserve duty, provided that you supply the Company with a due
        certificate in order to receive the amounts due from the National Insurance
        Institute. 

      

      11. Additional
        Benefits

      

      The
        management of the Company may recommend to Company's board of directors (the
        "Board")
        the
        grant of options to purchase ordinary shares of the Company, under the Company’s
        stock option plan valid on the date of grant and subject to the approval
        of the
        Board.

      It
        is
        hereby clarified that the grant of options is subject to the Board’s approval in
        accordance with the Company's procedures.

      

      For
        the
        avoidance of any doubt it is hereby clarified that the aforementioned shall
        not
        oblige the Company to recommend to the Board upon such grant, and you shall
        have
        no claims or demands had the Company not recommended upon such
        grant.

      

      12. General

      

      The
        Company may hold, once a year, a salary review in which it may decide whether
        to
        grant a bonus to all or any of its employees at its sole discretion. In the
        event that such salary review is held, the Company may consider your candidacy
        to receive such a bonus.

      

      It
        is
        hereby clarified that the Company is not obliged to hold such salary review
        and/or to grant any benefits or bonus to all or any of its employees or to
        you.
        Furthermore, you hereby undertake that you shall have no claim or demand
        in the
        event that the Company decides not to hold such salary review and/or not
        to
        grant any benefits or bonus to all or any of its employees or to
        you.

       

      
        
          
          

        

        
          4

          
            

          

        

        
          
          

        

      

       

      13. Confidentiality,
        Non-Competition/Non-solicitation and Intellectual
        Property

       

      You
        hereby declare, that you are obliged to the provisions of the Confidentiality,
        Non-Competition/Non-solicitation and Intellectual Property clause, as described
        in Section 4 of Appendix "A" attached hereto.

      

      In
        addition to the terms and conditions specified above, the other terms and
        conditions of your employment shall be in accordance with the procedures
        of the
        Company from time to time, as specified in Appendix "A" attached hereto.
        

       

      Please
        carefully read the Special Agreement and the appendixes annexed thereto and
        sign
        the declaration at the foot of Appendix "A" attached hereto.

      

      In
        light
        of Notice Of Employment Law (Employment Terms), 5762-2002 and the regulations
        thereof, attached as Annex "B" is a Notice Of Employment Terms of the
        Employee.

      

      

      The
        Management of the Company is pleased to have you join the Company staff,
        wishes
        you success in your position and hopes to see you absorbed and integrated
        into
        its team of employees. 

      

      

      Yours
        faithfully and wishing you success, 

       

       

      
        	Name: 	 	Nurit
                Doron 
	 	 	 
	Position: 	 	VP
                Human Resources 
	 	 	 
	Address:  	 	2
                Hamaskit St., Herzlia 

      

      

      I
        have
        carefully read this agreement and its appendixes thereto, I have understood
        the
        contents thereof and I agree to the terms and conditions included therein
        and
        undertake to perform all the obligations therein. 

       

      
        	
                Signature:

              	
                 

              	
                ______________________________

              
	 	 	 
	
                Employee's
                  name:

              	
                 

              	
                
                  ______________________________

                

              
	 	 	 
	
                Identity
                  number:

              	
                 

              	
                
                  ______________________________

                

              
	 	 	 
	
                Identity
                  number:

              	
                 

              	
                
                  ______________________________

                

              
	 	 	 
	
                Address:
                  

              	
                 

              	
                
                  ______________________________

                

              
	 	 	 
	
                Date:

              	 	
                ______________________________

              

      

       

      
        
          
          

        

        
          5

          
            

          

        

        
          
          

        

      

      

      APPENDIX
        "A" TO PERSONAL AND SPECIAL EMPLOYMENT AGREEMENT

      

      1. General
        

    

    
      

      
        	        1.1 
                	
                
                  This
                    agreement constitutes an integral part of the personal and special
                    employment agreement dated August 18th
                    2005 between Yaniv Arieli (the “Employee”)
                    and Ceva DSP Ltd. (the “Company”)
                    (the “Special
                    Agreement"),
                    and wherever reference is made to this “Agreement”, the meaning is this
                    agreement and the Special Agreement.

                

              

      

    

    

    
      	        1.2 
              	
              Unless
                otherwise provided in this Agreement, the provisions of any collective
                agreement (“Heskem Kibutsi”), collective arrangement (“Hesder Kibutsi”) or
                other custom of any kind shall not apply, unless otherwise determined
                by
                applicable law.

            

    

    

    
      	        1.3 
              	
              The
                Employee warrants, confirms and undertakes that he is entitled to
                enter
                into this Agreement and to assume all the obligations pursuant hereto,
                that there is no contractual or other impediment to his entering
                into this
                Agreement. 

            

    

    

    
      	        1.4 
              	
              The
                Employee hereby warrants that he has no medical or other problems
                which
                might prevent him from performing his obligations to work for the
                Company.
                The Employee shall notify the Company of any change in his state
                of
                health. 

            

    

    

    2. Position
      and Duties

    

    
      	        2.1 
              	
              During
                the employment period with the Company, the Employee shall honestly,
                diligently, skillfully and faithfully serve the Company. The Employee
                undertakes to devote all his working time, efforts and the best of
                his
                qualifications and skill to promoting the business and affairs of
                the
                Company, to comply with the policy and working arrangements of the
                Company, to loyally and fully comply with the decisions of the Company,
                its management and his supervisors.

            

    

    

    
      	        2.2 
              	
              The
                Employee shall not, without the prior written authorization of the
                Company, directly or indirectly undertake any other employment, whether
                as
                an employee of another employer or independently as an agent or consultant
                or in any other manner (whether for compensation or otherwise), and
                shall
                not assume any position or render services in any of the above-stated
                manners to any other entity.

            

    

    

    
      	        2.3 
              	
              The
                Employee undertakes to notify the Company immediately and without
                delay of
                any matter or subject in respect of which he has a personal interest
                and/or which might create a conflict of interests with his position
                in the
                Company. 

            

    

    

    3. Employment
      Period and Termination Thereof

    

    
      	        3.1 
              	
              During
                the Notice Period as described in Section 2 of the Special Agreement,
                the
                Employee shall continue to render services to the Company until the
                termination of the Notice Period. Nevertheless, the Company shall
                have the
                right not to take advantage of the full Notice Period and may even
                terminate the employment at any time during the Notice Period. In
                the
                event of such termination, the Company shall pay the Employee his
                Salary
                and Overtime Pay for the remainder of the Notice
                Period.

            

    

     

    
      
        
        

      

      
        6

        
          

        

      

      
        
        

      

    

    
      

      
        	              
                   	
                For
                  the avoidance of any doubt, it is hereby expressed that the Company
                  reserves this right in both the event the notice of termination
                  of
                  employment was delivered by it or in the event that it was delivered
                  by
                  the Employee,
                  and the latter case shall not constitute a dismissal of employment
                  by the
                  Company 

              

      

    

    

    
      	        3.2 
              	
              Notwithstanding the
                foregoing, the Company may terminate the employment without the delivery
                of a prior written notice,
                in
                the event that The employee is not eligible to severance pay under
                the
                provisions of the Severance Pay Law and/or is in breach of his fiduciary
                duty, including but not limited to a commission of a felonious crime
                connected with his employment and/or he is in breach of his undertakings
                according to Section 3.4 henceforth and/or he is in breach of his
                obligations re confidentiality, non-competition and intellectual
                property,
                as defined in Section 4 henceforth.

            

    

    

    
      	        3.3 
              	
              In
                the event that the Employee terminated his employment with the Company,
                for any reason, without the delivery of a prior written notice, the
                Company is entitled to deduct from any debt which it owes the Employee
                an
                amount equal to the salary that would have been due to the Employee
                for
                the Notice Period during which he should have worked pursuant hereto,
                had
                he worked.

            

    

    

    
      	        3.4 
              	
              The
                Employee undertakes that immediately upon the termination of his
                employment with the Company, for any reason, he shall act as
                follows:

            

    

    

    
      	          3.4.1 
              	
              he
                shall deliver and/or return to the Company all the documents, diskettes
                or
                other magnetic media, letters, notes, reports and other papers in
                his
                possession and relating to his employment with the Company, as well
                as any
                equipment and/or other property belonging to the Company which was
                placed
                at his disposal;

            

    

    

    
      	          3.4.2 
              	
              he
                shall delete any information relating to the Company or its business
                from
                his personal computer, if any;

            

    

    

    
      	          3.4.3 
              	
              he
                shall coordinate his resignation with his supervisors, including
                the
                orderly handing over of his position according to the timetable determined
                by his supervisors, and he shall hand over in an orderly fashion
                and in
                accordance with the Company procedures his position, the documents
                and all
                the other matters dealt with by him to whomever the Company instructs,
                and
                all to the satisfaction of the Company.

            

    

     

    
      
        
        

      

      
        7

        
          

        

      

      
        
        

      

    

    
 

    
      	 	
              4.

            	
              Confidentiality,
                Non-Competition/Non-solicitation and Intellectual
                Property

            

    

    

    The
      Employee warrants and undertakes that for as long as he is employed by the
      Company, and upon termination of employment thereafter, for any reason, he
      shall
      maintain in complete confidence any matters that relate to the Company, its
      affairs and/or business, including regarding the terms and conditions of his
      employment pursuant to this Agreement, and that he shall not harm its goodwill
      or reputation, and he agrees to the provisions of the confidentiality,
      non-competition and intellectual property clause as specified below.

    

    The
      Employee's obligations pursuant to this Section derive from his status and
      his
      position in the Company, along with all matters connected therewith, and the
      terms and conditions of the Employee's employment pursuant to this Agreement,
      including his total compensation, have been determined in part, inter alia,
      in
      consideration of this undertaking and constitute sufficient consideration for
      his obligations hereunder. 

    

    
      	        4.1 
              	
              Confidentiality

            

    

    

    
      	          4.1.1 
              	
              The
                Employee undertakes to keep the secrets of the Company, including
                its
                affiliates, subsidiaries, successors, related corporation and parent
                company, Ceva DSP Inc. and its subsidiaries, now or hereafter existing
                (for the purpose of this Section 4.1 and 4.2 and 4.4 the “Company”),
                during the term of his employment with the Company and after the
                termination of such employment, for any reason.

            

    

    

    
      	          4.1.2 
              	
              Without
                derogating from the generality of the foregoing, the Employee hereby
                agrees that he shall not, directly or indirectly, disclose or transfer
                to
                any person or entity, at any time, either during or subsequent to
                the
                employment period, any trade secrets or other confidential information,
                whether patentable or not, of the Company, including but not limited
                to,
                any (i) processes, formulas, trade secrets, innovations, inventions,
                discoveries, improvements, research or development and test results,
                survey, specifications, data and know-how; (ii) marketing plans,
                business
                plans, strategies, forecasts, unpublished financial information,
                budgets,
                projections, product plans and pricing; (iii) personnel information,
                including organizational structure, salary, and qualifications of
                employees; (iv) customer and supplier information, including identities,
                product sales and purchase history or forecasts and agreements; and
                (v)
                any other information which is not known to the public (collectively,
                “Confidential
                Information”),
                of which the Employee is or becomes informed or aware during the
                employment period, whether or not developed by the
                Employee.

            

    

     

    
      
        
        

      

      
        8

        
          

        

      

      
        
        

      

    

     

    
      	          4.1.3 
              	
              The
                Employee undertakes not to give and/or transfer, directly or indirectly,
                to any person or entity, any material and/or raw material and/or
                product
                and/or part of a product and/or model and/or document and/or diskette
                and/or other information storage media and/or photocopied and/or
                printed
                and/or duplicated object containing any or all of the Confidential
                Information. 

            

    

    

    
      	          4.1.4 
              	
              The
                Employee undertakes not to make any use, including duplication,
                production, sale, transfer, imitation and distribution, of all or
                any of
                the Confidential Information, without the prior written consent of
                the
                Company. 

            

    

    

    
      	          4.1.5 
              	
              In
                the event the Employee is in breach of any of his above obligations,
                he
                shall be liable to compensate the Company in respect of all damages
                and/or
                expenses incurred by the Company as a result of such breach, including
                trial costs and legal fees and statutory VAT, and such being without
                derogating from any other relief and/or remedy available to the Company
                by
                virtue of any law. 

            

    

     

    
      	        4.2 
              	
              Non-Competition/
                Non-Solicitation

            

    

    

    
      	          4.2.1 
              	
              The
                Employee undertakes that during the period of his employment with
                the
                Company and for a period of twelve (12) months from the termination
                of his
                employment therewith, for any reason, he shall not, anywhere in the
                world,
                do business as an employee, independent contractor, consultant or
                otherwise, and shall not directly or indirectly participate in or
                accept
                any position, proposal or job offer that may directly or indirectly
                compete with or harm the Company, or in the field in which the Company
                engages, is engaged or is about to engage (the “Competitive Occupation").
                

            

    

    

    
      	          4.2.2 
              	
              Without
                derogating from the generality of the foregoing, the Employee undertakes
                not to maintain any business relations of any type whatsoever, including
                a
                proposal to conduct business relations, directly or indirectly, with
                any
                of the Company's customers and/or suppliers and/or agents, including
                customers and/or suppliers and/or agents with whom the Company conducted
                negotiations towards an agreement at the time of the termination
                of his
                employment with the Company or prior thereto. In addition, the Employee
                undertakes not to approach and/or solicit and/or recruit any employee
                of
                the Company to leave the Company for a period of eighteen (18) months
                from
                the date of the termination of the employment relationship.
                

            

    

     

    
      
        
        

      

      
        9

        
          

        

      

      
        
        

      

    

     

    
      	          4.2.3 
              	
              The
                foregoing shall apply irrespective of whether the Competitive Occupation
                is carried out by the Employee alone or in cooperation with others
                and
                shall apply to the participation of the Employee in a Competitive
                Occupation, whether as a controlling shareholder or as an interested
                party. 

            

    

     

    
      
        	          4.2.4 
                	
                For
                  the avoidance of any doubt, the Employee hereby declares that his
                  obligations and declarations according to this Section 4.2 do not
                  limit
                  his occupation with any other entity whatsoever, and they are solely
                  intended to safeguard the legitimate interests of the Company in
                  light of
                  his position in the Company, and in light of the Confidential Information
                  to which he has been and/or will be exposed during the course of
                  his
                  employment.

              

      

    

    

    
      	        4.3 
              	
              Intellectual
                Property, Copyright and
                Patents

            

    

    

    
      
        	          4.3.1 
                	
                The
                  Employee hereby assigns to the Company, all of the Employee’s rights,
                  title and interest in and to all inventions, trade secrets, professional
                  secrets, innovations, copyrightable works, Confidential Information,
                  discoveries, processes, designs, works of authorship, and other
                  intellectual property and all improvements on existing inventions,
                  discoveries, processes, designs, works and other intellectual property
                  made or discovered by the Employee or any person subordinate to
                  him during
                  the term of employment or as a result of such employment with the
                  Company,
                  for no additional consideration provided that he shall not be required
                  to
                  bear any expenses as a result of such assignment. The Company and
                  its
                  successors shall be entitled to protect any invention and/or patent
                  and/or
                  trade secret and/or professional secret and/or innovation as aforesaid
                  by
                  way of registration and/or in any other manner, in Israel or anywhere
                  else.

              

      

    

     

    
      
        	          4.3.2 
                	
                The
                  Employee undertakes that upon the demand of the Company, including
                  after
                  the termination of his employment for any reason, he shall sign,
                  execute
                  and deliver to the Company such documents as the Company may request
                  to
                  confirm the assignment of the Employee’s rights herein, and if requested
                  by the Company, shall assist the Company, and shall execute any
                  necessary
                  documents, at the Company’s expense, in applying for and prosecuting any
                  patents, trademarks, trade secrets or copyright registration which
                  may be
                  available in respect thereof in accordance with the laws of the
                  State of
                  Israel or any other foreign country.

              

      

    

      

    
      
        
        

      

      
        10

        
          

        

      

      
        
        

      

    

     

    
      
        	          4.3.3 
                	
                The
                  Employee undertakes to deliver to the Company, written notice of
                  any
                  invention and/or patent and/or commercial secret and/or innovation
                  invented by him and/or employees of the Company and/or its successors
                  who
                  are subordinate to him, immediately upon the discovery
                  thereof.

              

      

    

     

    
      
        	          4.3.4 
                	
                The
                  Employee's obligations pursuant to this Section shall survive the
                  termination of his employment with the Company and/or its successors
                  and
                  assigns with respect to inventions conceived by him during the
                  term of his
                  employment or as a result of his employment with the
                  Company.

              

      

    

      

    
      
        	      4.4 
                	
                Employee
                  acknowledges that the restricted period of time and geographical
                  area
                  specified hereunder are reasonable, in view of the nature of the
                  business
                  in which the Company is engaged, the Employee’s knowledge of the Company’s
                  business and the compensation he receives. Notwithstanding anything
                  contained herein to the contrary, if the period of time or the
                  geographical area specified herein 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 and during such period of time as shall be determined
                  to be
                  reasonable by such judicial proceeding. The Employee acknowledges
                  that the
                  compensation and benefits granted to him by the Company under this
                  Agreement were determined, inter alia, in consideration for his
                  obligations under this Section
                  4.

              

      

    

     

    5.  
General

     

    
      	      5.1 
              	
              The
                Employee shall bear all the taxes deriving from the rights and benefits
                received by him pursuant hereto. It is hereby expressed that all
                the
                amounts specified in this contract are gross and statutory tax shall
                be
                deducted from them.

            

    

    

    
      	      5.2 
              	
              All
                notices, requests, consents and other communications, required or
                permitted to be given hereunder, shall be in writing and shall be
                deemed
                to have been duly given if delivered personally or sent by fax, or
                mailed
                first-class, postage prepaid, by registered or certified mail, to
                the
                addresses and fax numbers set forth in this Agreement (or to such
                other
                address and fax numbers as either party shall designate by notice
                in
                writing to the other in accordance herewith). Notices sent by fax
                shall be
                deemed to have been given upon transmission and electronic confirmation
                of
                receipt or (if transmitted and received on a non-business day) on
                the
                first business day following transmission and electronic confirmation
                of
                receipt, notices sent by mail shall be deemed to have been given
                ninety-six (96) hours after
                delivery.

            

    

    
       

      
        
          
          

        

        
          11

          
            

          

        

        
          
          

        

      

       

      
        	        
	
                The
                  addresses of the parties hereto are as specified in the Special
                  Agreement.
                  

              

      

       

    

    
      	
                    5.3 
                

            	
              This
                Agreement is the entire agreement between the parties with respect
                to the
                subject matter hereof, and supersedes all prior understandings, agreements
                and discussions between them, oral or
                written.

            

    

    

    

    I
      have
      carefully read this agreement and its appendices thereto, I have understood
      the
      contents, the terms and conditions included therein and undertake to perform
      all
      the thereof and I agree to the obligations therein. 

     

    
      	
              Signature: 

            	 	 ________________________________
	
              Employee’s
                name: 

            	 	 ________________________________
	
              Identity
                number: 

            	 	 ________________________________
	
              Date: 

            	 	 ________________________________

    

    

    
      
        
        

      

      
        12

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