Document:

<PAGE>
                                                                   EXHIBIT 10.22

                         OMRIX BIOPHARMACEUTICALS, INC.

                           2006 EQUITY INCENTIVE PLAN
<PAGE>
                                                                               .
                                                                               .
                                                                               .
                         OMRIX BIOPHARMACEUTICALS, INC.

                           2006 EQUITY INCENTIVE PLAN

<TABLE>
<CAPTION>
     Section                                                                Page
<S>                                                                         <C>
1.   Purpose; Types of Awards; Construction.                                   1

2.   Definitions.                                                              1

3.   Administration.                                                           5

4.   Eligibility.                                                              6

5.   Stock Subject to the Plan.                                                6

6.   Specific Terms of Awards.                                                 8

7.   General Provisions.                                                      12
</TABLE>
<PAGE>
                         OMRIX BIOPHARMACEUTICALS, INC.

                           2006 EQUITY INCENTIVE PLAN

            1.    Purpose; Types of Awards; Construction.

            The purposes of the Omrix Biopharmaceuticals, Inc. 2006 Equity
Incentive Plan (the "Plan") are to afford an incentive to non-employee
directors, selected officers and other employees, advisors and consultants of
Omrix Biopharmaceuticals, Inc. (the "Company"), or any Parent or Subsidiary of
the Company that now exists or hereafter is organized or acquired, to continue
as non-employee directors, officers or employees, advisors or consultants, as
the case may be, to increase their efforts on behalf of the Company and its
Subsidiaries and to promote the success of the Company's business. The Plan
provides for the grant of Options (including "incentive stock options" and
"nonqualified stock options"), stock appreciation rights, restricted stock,
restricted stock units and other stock-based awards. The Plan is designed so
that Awards granted hereunder intended to comply with the requirements for
"performance-based compensation" under Section 162(m) of the Code may comply
with such requirements, and the Plan and Awards shall be interpreted in a manner
consistent with such requirements.

            2.    Definitions.

            For purposes of the Plan, the following terms shall be defined as
set forth below:

                  (a) "Award" means any Option, SAR, Restricted Stock,
Restricted Stock Unit or Other Stock-Based Award granted under the Plan.

                  (b) "Award Agreement" means any written agreement, contract,
or other instrument or document evidencing an Award.

                  (c)   "Board" means the Board of Directors of the Company.

                  (d) "Change in Control" means a change in control of the
Company, which will be deemed to have occurred if:

                        (i) any "person," as such term is used in Sections 13(d)
            and 14(d) of the Exchange Act (other than (A) the Company, (B) any
            trustee or other fiduciary holding securities under an employee
            benefit plan of the Company, and (C) any corporation owned, directly
            or indirectly, by the stockholders of the Company in substantially
            the same proportions as their ownership of Stock), is or becomes the
            "beneficial owner" (as defined in Rule 13d-3 under the Exchange
            Act), directly or indirectly, of securities of the Company
            representing 30% or more of the combined voting power of the
            Company's then outstanding voting securities (excluding any person
            who becomes such a beneficial owner in
<PAGE>
            connection with a transaction immediately following which the
            individuals who comprise the Board immediately prior thereto
            constitute at least a majority of the Board, the entity surviving
            such transaction or, if the Company or the entity surviving the
            transaction is then a subsidiary, the ultimate parent thereof);

                        (ii) the following individuals cease for any reason to
            constitute a majority of the number of directors then serving:
            individuals who, on the Effective Date, constitute the Board and any
            new director (other than a director whose initial assumption of
            office is in connection with an actual or threatened election
            contest, including but not limited to a consent solicitation,
            relating to the election of directors of the Company) whose
            appointment or election by the Board or nomination for election by
            the Company's stockholders was approved or recommended by a vote of
            at least two-thirds (2/3) of the directors then still in office who
            either were directors on the Effective Date or whose appointment,
            election or nomination for election was previously so approved or
            recommended;

                        (iii) there is consummated a merger or consolidation of
            the Company or any direct or indirect subsidiary of the Company with
            any other corporation, other than a merger or consolidation
            immediately following which the individuals who comprise the Board
            immediately prior thereto constitute at least a majority of the
            Board, the entity surviving such merger or consolidation or, if the
            Company or the entity surviving such merger is then a subsidiary,
            the ultimate parent thereof; or

                        (iv) the stockholders of the Company approve a plan of
            complete liquidation of the Company or there is consummated an
            agreement for the sale or disposition by the Company of all or
            substantially all of the Company's assets (or any transaction having
            a similar effect), other than a sale or disposition by the Company
            of all or substantially all of the Company's assets to an entity,
            immediately following which the individuals who comprise the Board
            immediately prior thereto constitute at least a majority of the
            board of directors of the entity to which such assets are sold or
            disposed of or, if such entity is a subsidiary, the ultimate parent
            thereof.

Notwithstanding the foregoing, a Change in Control shall not be deemed to have
occurred by virtue of (x) a Public Offering or (y) the consummation of any
transaction or series of integrated transactions immediately following which the
holders of the Stock immediately prior to such transaction or series of
transactions continue to have substantially the same proportionate ownership in
an entity which owns all or substantially all of the assets of the Company
immediately following such transaction or series of transactions.

                  (e) "Code" means the Internal Revenue Code of 1986, as amended
from time to time.

                                       2
<PAGE>
                  (f) "Committee" means the committee established by the Board
to administer the Plan, which shall be the Compensation Committee, or, if no
Committee is so established, the Board.

                  (g) "Company" means Omrix Biopharmaceuticals, Inc., a
corporation organized under the laws of the State of Delaware, or any successor
corporation.

                  (h) "Covered Employee" shall have the meaning set forth in
Section 162(m)(3) of the Code.

                  (i) "Effective Date" means March 20, 2006, the date that the
Plan was adopted by the Board.

                  (j) "Exchange Act" means the Securities Exchange Act of 1934,
as amended from time to time, and as now or hereafter construed, interpreted and
applied by regulations, rulings and cases.

                  (k) "Fair Market Value" means, with respect to Stock or other
property, the fair market value of such Stock or other property determined by
such methods or procedures as shall be established from time to time by the
Committee. Unless otherwise determined by the Committee in good faith, the per
share Fair Market Value of Stock as of a particular date shall mean (i) the mean
between the highest and lowest reported sales price per share of Stock on the
national securities exchange on which the Stock is principally traded, for the
last preceding date on which there was a sale of such Stock on such exchange, or
(ii) if the shares of Stock are then traded in an over-the-counter market, the
average of the closing bid and asked prices for the shares of Stock in such
over-the-counter market for the last preceding date on which there was a sale of
such Stock in such market, or (iii) if the shares of Stock are not then listed
on a national securities exchange or traded in an over-the-counter market, such
value as the Committee, in its sole discretion, shall determine.

                  (l) "Grantee" means a person who, as a non-employee director,
officer or other employee or consultant of the Company or a Parent or Subsidiary
of the Company, has been granted an Award under the Plan.

                  (m) "ISO" means any Option intended to be and designated as an
incentive stock option within the meaning of Section 422 of the Code.

                  (n) "NQSO" means any Option that is not designated as an ISO.

                  (o) "Option" means a right, granted to a Grantee under Section
6(b), to purchase shares of Stock. An Option may be either an ISO or an NQSO,
provided that ISOs may be granted only to employees of the Company or a Parent
or Subsidiary of the Company.

                  (p) "Other Stock-Based Award" means a right or other interest
granted to a Grantee under Section 6(f) that may be denominated or payable in,
valued in

                                       3
<PAGE>
whole or in part by reference to, or otherwise based on, or related to, Stock,
including but not limited to (i) unrestricted Stock awarded as a bonus or upon
the attainment of Performance Goals or otherwise as permitted under the Plan,
and (ii) a right granted to a Grantee to acquire Stock from the Company
containing terms and conditions prescribed by the Committee.

                  (q) "Parent" means a "parent corporation," whether now or
hereafter existing, as defined in Section 424(e) of the Code.

                  (r) "Performance Goals" means performance goals based on one
or more of the following criteria, determined in accordance with generally
accepted accounting principles where applicable: (i) A measure of earnings
(pretax, after tax, etc.) deemed appropriate by the Committee; (ii) A measure of
return (on assets, investment, etc.) deemed appropriate by the Committee; (iii)
economic value created; (iv) stock price or total stockholder return; (v) cost
targets, reductions and savings, productivity and efficiencies; (vi)
acquisitions, divestitures, joint ventures, licensing deals, and other corporate
transactions; (vii) research and development milestones; and (viii) strategic
business criteria, consisting of one or more objectives based on meeting
specified market penetration or market share, geographic business expansion,
customer satisfaction, employee satisfaction, human resources management,
supervision of litigation, information technology, and goals relating to
regulatory approvals, clinical trials, and similar transactions. Where
applicable, the Performance Goals may be expressed in terms of attaining a
specified level of the particular criterion or the attainment of a percentage
increase or decrease in the particular criterion, and may be applied to one or
more of the Company or a Parent or Subsidiary of the Company, or a division or
strategic business unit of the Company, all as determined by the Committee. The
Performance Goals may include a threshold level of performance below which no
payment will be made (or no vesting will occur), levels of performance at which
specified payments will be paid (or specified vesting will occur), and a maximum
level of performance above which no additional payment will be made (or at which
full vesting will occur). Each of the foregoing Performance Goals shall be
evaluated in accordance with generally accepted accounting principles, where
applicable, and shall be subject to certification by the Committee. The
Committee shall have the authority to make equitable adjustments to the
Performance Goals in recognition of unusual or non-recurring events affecting
the Company or any Parent or Subsidiary of the Company or the financial
statements of the Company or any Parent or Subsidiary of the Company, in
response to changes in applicable laws or regulations, or to account for items
of gain, loss or expense determined to be extraordinary or unusual in nature or
infrequent in occurrence or related to the disposal of a segment of a business
or related to a change in accounting principles.

                  (s) "2005 Plan" means the 2005 Equity Incentive Plan for
Israeli Employees, as amended from time to time.

                  (t) "Plan" means this Omrix Biopharmaceuticals, Inc. 2006
Equity and Incentive Plan, as amended from time to time.

                  (u) "Plan Year" means a calendar year.

                                       4
<PAGE>
                  (v) "Prior Plan" has the meaning ascribed to that term in
Section 5(a).

                  (w) "Public Offering" means an offering of securities of the
Company that is registered with the Securities and Exchange Commission.

                  (x) "Restricted Stock" means an Award of shares of Stock to a
Grantee under Section 6(d) that may be subject to certain restrictions and to a
risk of forfeiture.

                  (y) "Restricted Stock Unit" means a right granted to a Grantee
under Section 6(e) to receive Stock or cash at the end of a specified deferral
period, which right may be conditioned on the satisfaction of specified
performance or other criteria.

                  (z) "Rule 16b-3" means Rule 16b-3, as from time to time in
effect promulgated by the Securities and Exchange Commission under Section 16 of
the Exchange Act, including any successor to such Rule.

                  (aa) "Stock" means shares of the common stock, par value $0.01
per share, of the Company.

                  (bb) "Stock Appreciation Right" or "SAR" means the right,
granted to a Grantee under Section 6(c), to be paid an amount measured by the
appreciation in the Fair Market Value of Stock from the date of grant to the
date of exercise of the right.

                  (cc) "Subsidiary" means a "subsidiary corporation," whether
now or hereafter existing, as defined in Section 424(f) of the Code.

            3.    Administration.

            The Plan shall be administered by the Committee. The Committee shall
have the authority in its discretion, subject to and not inconsistent with the
express provisions of the Plan, to administer the Plan and to exercise all the
powers and authorities either specifically granted to it under the Plan or
necessary or advisable in the administration of the Plan, including, without
limitation, the authority to grant Awards; to determine the persons to whom and
the time or times at which Awards shall be granted; to determine the type and
number of Awards to be granted, the number of shares of Stock to which an Award
may relate and the terms, conditions, restrictions and performance criteria
relating to any Award; to establish Performance Goals no later than such time as
required to ensure that an underlying Award which is intended to comply with the
requirements of Section 162(m) of the Code so complies; and to determine
whether, to what extent, and under what circumstances an Award may be settled,
cancelled, forfeited, exchanged, or surrendered; to accelerate the vesting or
lapse of restrictions with respect to an Award; to make adjustments in the terms
and conditions of, and the performance criteria or Performance Goals (if any)
included in, Awards; to construe and interpret the Plan and any Award; to
prescribe, amend and rescind rules and regulations relating to the

                                       5
<PAGE>
Plan; to determine the terms and provisions of the Award Agreements (which need
not be identical for each Grantee); and to make all other determinations deemed
necessary or advisable for the administration of the Plan. Notwithstanding the
foregoing, neither the Board, the Committee nor their respective delegates shall
have the authority to reprice (or cancel and regrant) any Option or, if
applicable, other Award at a lower exercise, base or purchase price without
first obtaining the approval of the Company's stockholders.

            The Committee may appoint a chairperson and a secretary and may make
such rules and regulations for the conduct of its business as it shall deem
advisable. All determinations of the Committee shall be made by a majority of
its members either present in person or participating by conference telephone at
a meeting or by written consent. The Committee may delegate to one or more of
its members or to one or more agents such administrative duties as it may deem
advisable, and the Committee or any person to whom it has delegated duties as
aforesaid may employ one or more persons to render advice with respect to any
responsibility the Committee or such person may have under the Plan. All
decisions, determinations and interpretations of the Committee shall be final
and binding on all persons, including but not limited to the Company, any Parent
or Subsidiary of the Company or any Grantee (or any person claiming any rights
under the Plan from or through any Grantee) and any stockholder.

            No member of the Board or Committee shall be liable for any action
taken or determination made in good faith with respect to the Plan or any Award
granted hereunder.

            4.    Eligibility.

            Awards may be granted to selected non-employee directors, officers
and other employees, advisors or consultants of the Company or any Parent or
Subsidiary of the Company, in the discretion of the Committee. In determining
the persons to whom Awards shall be granted and the type of any Award (including
the number of shares to be covered by such Award), the Committee shall take into
account such factors as the Committee shall deem relevant in connection with
accomplishing the purposes of the Plan.

            5.    Stock Subject to the Plan.

                  (a) Shares Authorized. Subject to the following provisions of
this Section 5, the maximum number of shares of Stock reserved for the grant of
Awards under the Plan, including the 2005 Plan, shall be equal to the sum of:
(i) 363,636 newly authorized shares of Stock; and (ii) any shares of Stock
available for future awards under the Omrix Pharmaceuticals, Inc. 2004 Equity
Incentive Plan (the "Prior Plan") as of the Effective Date, equaling 1,090,909
shares of Stock in the aggregate. Such shares may, in whole or in part, be
authorized but unissued shares or shares that shall have been or may be
reacquired by the Company in the open market, in private transactions or
otherwise. Shares subject to an Award that expires, is terminated unexercised,
is forfeited for any reason, or is settled in a manner that results in fewer
shares outstanding than were initially awarded, shares surrendered in payment of
the option price or any tax obligation

                                       6
<PAGE>
with respect to an Award, and shares of Restricted Stock that are repurchased
by, or forfeited to, the Company shall again be available for the grant of
Awards under the Plan to the extent of such expiration, termination, forfeiture,
repurchase or decrease subject, however, in the case of Incentive Stock Options,
to any requirements under the Code.

                  (b) Share Limits. No more than 181,818 shares of Stock may be
made subject to Options or SARs to a single individual in a single Plan Year,
subject to adjustment as provided herein, and no more than 72,727 shares of
Stock may be made subject to performance-based stock-based awards other than
Options or SARs (including Restricted Stock and Restricted Stock Units or Other
Stock-Based Awards denominated in shares of Stock) to a single individual in a
single Plan Year, subject to adjustment as provided herein. Determinations made
in respect of the limitations set forth in the immediately preceding sentence
shall be made in a manner consistent with Section 162(m) of the Code. Up to
1,090,909 shares of Stock may be granted hereunder as ISOs. No more than 727,272
shares of Stock may be granted hereunder in the form of Restricted Stock or
Restricted Stock Units.

                  (c) Adjustments; Effect of Certain Transactions. In the event
that the Committee shall determine that any dividend or other distribution
(whether in the form of cash, Stock, or other property), recapitalization, Stock
split, reverse split, reorganization, merger, consolidation, spin-off,
combination, repurchase, or share exchange, or other similar corporate
transaction or event, affects the Stock such that an adjustment is appropriate
in order to prevent dilution or enlargement of the rights of Grantees under the
Plan, then the Committee shall make such equitable changes or adjustments as it
deems necessary or appropriate to any or all of (i) the number and kind of
shares of Stock or other property (including cash) that may thereafter be issued
under the Plan, (ii) the number and kind of shares of Stock or other property
(including cash) issued or issuable in respect of outstanding Awards, (iii) the
exercise price, grant price, or purchase price relating to any Award; provided,
that, with respect to ISOs, such adjustment shall be made in accordance with
Section 424(h) of the Code; and (iv) the Performance Goals applicable to
outstanding Awards. Notwithstanding the foregoing, in connection with any
reorganization, merger, consolidation, combination, share exchange or other
similar corporate transaction, including any transaction resulting in or
anticipated to result in a Change in Control, the Committee shall have the
discretion to take actions affecting outstanding Awards and the rights of
Grantees hereunder, including to provide for the assumption of Awards by another
entity; to provide for the payment of cash or other property in exchange for the
cancellation of Awards; and to provide for the termination of Awards including
the provision of prior notice.

                  (d) Assumed Awards; 2005 Plan. All outstanding awards granted
under the Prior Plan shall be assumed by the Plan and shall be considered
outstanding Awards under the Plan as of the Effective Date; provided, however,
that all awards granted pursuant to the Prior Plan and which remain outstanding
as of the Effective Date shall continue to be governed by the terms and
conditions that apply to such awards under the Prior Plan and stock option
agreement pursuant to which such award was granted. As of the Effective Date, no
further awards may be made under the Prior Plan. Notwithstanding the foregoing,
nothing contained herein shall be construed to

                                       7
<PAGE>
affect awards granted under the 2005 Plan which remain outstanding as of the
Effective Date. Following the Effective Date, awards made under the 2005 Plan
shall be counted against the shares of Stock available for issuance pursuant to
Section 5(a).

            6.    Specific Terms of Awards.

                  (a) General. The Committee is authorized to grant the Awards
described in this Section 6, under such terms and conditions as deemed by the
Committee to be consistent with the purposes of the Plan. Each Award granted
under the Plan shall be evidenced by an Award Agreement containing such terms
and conditions applicable to such Award as the Committee shall determine at the
date of grant or thereafter. Subject to the terms of the Plan and any applicable
Award Agreement, payments to be made by the Company or a Parent or Subsidiary of
the Company upon the grant, maturation, or exercise of an Award may be made in
such forms as the Committee shall determine at the date of grant or thereafter,
including, without limitation, cash, Stock, or other property, and may be made
in a single payment or transfer, in installments, or, subject to Section 7(l)
hereof, on a deferred basis. The Committee may make rules relating to
installment or deferred payments with respect to Awards, including the rate of
interest to be credited with respect to such payments. In addition to the
foregoing, the Committee may impose on any Award or the exercise thereof, at the
date of grant or thereafter, such additional terms and conditions, not
inconsistent with the provisions of the Plan, as the Committee shall determine.

                  (b) Options. The Committee is authorized to grant Options to
Grantees on the following terms and conditions:

                        (i) Type of Award. The Award Agreement evidencing the
            grant of an Option under the Plan shall designate the Option as an
            ISO or an NQSO.

                        (ii) Exercise Price. The exercise price per share of
            Stock purchasable under an Option shall be determined by the
            Committee, but in no event shall the exercise price of any Option be
            less than the Fair Market Value of a share of Stock on the date of
            grant of such Option. The exercise price for Stock subject to an
            Option may be paid in cash or by an exchange of Stock previously
            owned by the Grantee (subject to any terms and conditions imposed by
            the Committee if such Stock was acquired from the Company), through
            a "broker cashless exercise" procedure approved by the Committee (to
            the extent permitted by law), or a combination of the above, in any
            case in an amount having a combined value equal to such exercise
            price, or by such other method approved by the Committee. An Option
            may be exercised to the extent of any or all full shares of Stock as
            to which the Option has become exercisable, by giving written notice
            of such exercise to the Committee or its designated agent.

                                       8
<PAGE>
                        (iii) Term and Exercisability of Options. The date on
            which the Committee adopts a resolution expressly granting an Option
            shall be considered the day on which such Option is granted. Options
            shall be exercisable over the exercise period (which shall not
            exceed ten years from the date of grant), at such times and upon
            such conditions as the Committee may determine, as reflected in the
            Award Agreement; provided, that the Committee shall have the
            authority to accelerate the exercisability of any outstanding Option
            at such time and under such circumstances as it, in its sole
            discretion, deems appropriate.

                        (iv) Termination of Employment or Service. An Option may
            not be exercised unless the Grantee is then a director of, in the
            services of or in the employ of, the Company or a Parent or
            Subsidiary of the Company, and unless the Grantee has remained
            continuously so employed, or continuously maintained such service
            relationship, since the date of grant of the Option; provided, that
            the Award Agreement may contain provisions extending the
            exercisability of Options, in the event of specified terminations,
            to a date not later than the expiration date of such Option.

                        (v) Other Provisions. Options may be subject to such
            other conditions including, but not limited to, restrictions on
            transferability of the shares acquired upon exercise of such
            Options, as the Committee may prescribe in its discretion or as may
            be required by applicable law.

                  (c) SARs. The Committee is authorized to grant Options to
Grantees on the following terms and conditions:

                        (i) SARs. An SAR shall confer on the Grantee a right to
            receive an amount with respect to each share subject thereto, upon
            exercise thereof, equal to the excess of (1) the Fair Market Value
            of one share of Stock on the date of exercise over (2) the grant
            price of the SAR (which in the case of an SAR granted in tandem with
            an Option shall be equal to the exercise price of the underlying
            Option, and which in the case of any other SAR shall be such price
            as the Committee may determine). The Award Agreement approved by the
            Committee shall specify whether the payment of an SAR may be paid in
            cash, stock or other property, consistent with applicable law,
            including Section 409A of the Code.

                        (ii) Termination of Employment or Service. An SAR may
            not be exercised unless the Grantee is then a director of, in the
            services of or in the employ of, the Company or a Parent or
            Subsidiary of the Company, and unless the Grantee has remained
            continuously so employed, or continuously maintained such service
            relationship, since the date of grant of the SAR; provided, that the
            Award Agreement may contain provisions extending the exercisability
            of SARs, in the event of

                                       9
<PAGE>
            specified terminations, to a date not later than the expiration date
            of such SAR.

                  (d) Restricted Stock. The Committee is authorized to grant
Restricted Stock to Grantees on the following terms and conditions:

                        (i) Issuance and Restrictions. Restricted Stock shall be
            subject to such restrictions on transferability and other
            restrictions, if any, as the Committee may impose at the date of
            grant or thereafter, which restrictions may lapse separately or in
            combination at such times, under such circumstances, in such
            installments, or otherwise, as the Committee may determine. The
            Committee may place restrictions on Restricted Stock that shall
            lapse, in whole or in part, only upon the attainment of Performance
            Goals. Except to the extent restricted under the Award Agreement
            relating to the Restricted Stock, a Grantee granted Restricted Stock
            shall have all of the rights of a stockholder including, without
            limitation, the right to vote Restricted Stock and the right to
            receive dividends thereon.

                        (ii) Forfeiture. Upon termination of employment with or
            service to the Company, or upon termination of the director or
            independent contractor relationship, as the case may be, during the
            applicable restriction period, Restricted Stock and any accrued but
            unpaid dividends that are then subject to restrictions shall be
            forfeited; provided, that the Committee may provide, by rule or
            regulation or in any Award Agreement, or may determine in any
            individual case, that restrictions or forfeiture conditions relating
            to Restricted Stock will be waived in whole or in part in the event
            of terminations resulting from specified causes, and the Committee
            may in other cases waive in whole or in part the forfeiture of
            Restricted Stock.

                        (iii) Certificates for Stock. Restricted Stock granted
            under the Plan may be evidenced in such manner as the Committee
            shall determine. If certificates representing Restricted Stock are
            registered in the name of the Grantee, such certificates shall bear
            an appropriate legend referring to the terms, conditions, and
            restrictions applicable to such Restricted Stock, and the Company
            shall retain physical possession of the certificate until such time
            as the restrictions have lapsed.

                        (iv) Dividends. Dividends paid on Restricted Stock shall
            be either paid at the dividend payment date, or, subject to Section
            7(l), deferred for payment to such date as determined by the
            Committee, in cash or in shares of unrestricted Stock having a Fair
            Market Value equal to the amount of such dividends. Stock
            distributed in connection with a stock split or stock dividend, and
            other property (other than cash) distributed as a dividend, shall be
            subject to restrictions and a risk of forfeiture to the same extent
            as the Restricted Stock with respect to which

                                       10
<PAGE>
            such Stock or other property has been distributed, unless otherwise
            provided by the Committee.

                  (e) Restricted Stock Units. The Committee is authorized to
grant Restricted Stock Units to Grantees on the following terms and conditions:

                        (i) Award and Restrictions. Delivery of Stock or cash,
            as determined by the Committee, will occur upon expiration of the
            restricted period specified for Restricted Stock Units by the
            Committee. The Committee may place restrictions on Restricted Stock
            Units that shall lapse, in whole or in part, only upon the
            attainment of Performance Goals.

                        (ii) Forfeiture. Upon termination of employment with or
            service to the Company, or upon termination of the director or
            independent contractor relationship during the applicable restricted
            period or portion thereof to which forfeiture conditions apply, or
            upon failure to satisfy any other conditions precedent to the
            delivery of Stock or cash to which such Restricted Stock Units
            relate, all Restricted Stock Units and any accrued but unpaid
            dividend equivalents that are then subject to deferral or
            restriction shall be forfeited; provided, that the Committee may
            provide, by rule or regulation or in any Award Agreement, or may
            determine in any individual case, that restrictions or forfeiture
            conditions relating to Restricted Stock Units will be waived in
            whole or in part in the event of termination resulting from
            specified causes, and the Committee may in other cases waive in
            whole or in part the forfeiture of Restricted Stock Units.

                  (f) Other Stock-Based Awards. The Committee is authorized to
grant Other Stock-Based Awards to Grantees in such form as deemed by the
Committee to be consistent with the purposes of the Plan. Awards granted
pursuant to this paragraph may be granted with value and payment contingent upon
Performance Goals. The Committee shall determine the terms and conditions of
such Awards at the date of grant or thereafter. The maximum value of the
aggregate payment that any Grantee may earn pursuant to this Section 6(f) in
respect of each Plan Year during a performance period is $3,000,000. Payments
earned hereunder may be decreased or, with respect to any Grantee who is not a
Covered Employee, increased in the sole discretion of the Committee based on
such factors as it deems appropriate. No payment shall be made prior to the
certification by the Committee that the Performance Goals have been attained.
The Committee may establish such other rules applicable to the Other Stock-Based
Awards, including the treatment of such Awards upon termination of employment or
service with the Company. To the extent such Award is intended to comply with
Section 162(m) of the Code, such rules shall not be inconsistent with Section
162(m) of the Code.

                                       11<PAGE>
                                                                Exhibit 10.23

                              EMPLOYMENT AGREEMENT

     THIS EMPLOYMENT AGREEMENT ("Agreement") is made, entered into and effective
as of the 20th day of March, 2006 between Omrix Biopharmaceuticals, Inc., a
Delaware corporation having registered offices in Wilmington, Delaware (the
"Company"), and Robert Taub, residing in Brussels, Belgium and New York, New
York (the "Executive").

     WHEREAS, the Executive and the Company are parties to an Employment
Agreement dated as of December 31, 1998, as amended, (the "Former Employment
Agreement"), pursuant to which, inter alia, the Executive is employed by the
Company as its Chief Executive Officer ("CEO"); and

     WHEREAS, the parties have mutually agreed that it would inure to their
respective benefit for the Executive to remain as President and CEO of the
Company under a new employment agreement and that all prior agreements regarding
the Executive's employment with the Company including without limitation, the
Former Employment Agreement, shall be superseded and hereby terminated;

     NOW, THEREFORE, in consideration of the covenants and promises contained
herein, and for other good and valuable consideration, the sufficiency and
receipt of which are hereby acknowledged, the Company and the Executive agree as
follows:

     1. Employment Period.

     a. The Company offers to employ the Executive, and the Executive agrees to
be employed by the Company, in accordance with the terms and subject to the
conditions of this Agreement during the Term, as defined below, unless
terminated prior thereto in accordance with the provisions of paragraph 7 herein
below, in which case the provisions of paragraph 7 herein below shall govern the
parties' rights and obligations upon termination. The Initial Term of this
Agreement and the Executive's employment hereunder shall commence upon the
completion of a public offering of the Company's securities (the "Commencement
Date") and terminate on the third anniversary of the date of the Commencement
Date (the "Scheduled Separation Date"), provided, however, that commencing on
the Scheduled Separation Date and each anniversary thereafter, the term of this
Agreement shall automatically be extended for one additional year unless, not
later than six months prior to such anniversary, the Company or the Executive
shall have given written notice to the other party that the Term shall not be
extended (the Initial Term and the period of any extended term hereunder shall
hereinafter be referred to as the "Term").

     2. Position and Duties.

     a. During the Term of the Executive's employment hereunder, the Executive
will serve in the position, and assume and perform, to the satisfaction of the
Company's Board of Directors, the duties and responsibilities consistent with
the position of President and Chief Executive Officer, as well as such further
and other duties and responsibilities required from time to time by the
Company's Board of Directors. In the performance of his duties and
responsibilities, the Executive shall follow such rules and procedures as may be
required by the Company's Board of Directors, including, without limitation,
compliance with all internal rules and procedures promulgated or established by
the Company's Board of Directors.

<PAGE>

     b. During the Term of the Executive's employment hereunder, the Executive
agrees diligently and conscientiously to devote all of his business time, skill,
energy and best business efforts to performing his duties and responsibilities
hereunder, subject to the provisions of this Agreement; provided, however, that
it shall not be considered a violation of the foregoing for the Executive to
manage his or her personal investments or to serve on corporate or industry
boards or committees listed on Exhibit A hereto. The Company acknowledges that
the Executive's engaging in such activities is permitted by, and does not
conflict with or violate this Agreement (including, without limitation, the
Executive's obligations set forth in paragraphs 2(b), 3, 8 and 9), provided
however, that the Executive's engagement in such activities specified in Exhibit
A does not unreasonably interfere with his ability to perform his duties and
responsibilities under this Agreement or cause material competitive harm to the
Company and/or its affiliates. To the extent that in the future the Executive
desires to serve on a corporate or industry board or committee not listed on
Exhibit A, the Company's Board of Directors will consider the Executive's
request, which shall include an indication of whether such new activity is a
replacement for or an addition to an activity on Schedule A. The Company's Board
of Directors will promptly consider and not unreasonably withhold its approval
of such a request by the Executive.

     c. The Executive represents and warrants that he has the full right and
authority to enter into this Agreement and to render the services as required
under this Agreement, and that by executing this Agreement he is not breaching
any contract or legal obligation he owes to any third party. The Executive
agrees that, in the event that he commits a breach of this paragraph 2(c), he
will indemnify and hold harmless the Company and its officers, directors,
shareholders, parents, affiliates, subsidiaries, successors, predecessors,
licensees, assigns and agents, to the farthest extent of the law, from and
against any and all claims, losses, damages (including, without limitation,
compensatory, statutory, incidental and punitive damages) and expenses
(including, without limitation, reasonable attorney's fees and disbursements)
arising out of or related to such breach.

     d. The Executive represents and warrants that no obligation exists between
the Executive and any other entity which would prevent or impede the Executive's
immediate and full performance of his obligations under this Agreement in all
material respects.

     3. No Conflicts. The Executive covenants and agrees that for so long as he
is employed by the Company, the Executive shall inform the Company of each and
every business opportunity related to the business of the Company of which the
Executive becomes aware, and that the Executive will not, directly or
indirectly, exploit any such opportunity for the Executive's own account, nor
will the Executive render any services to any other person or business, acquire
any interest of any type in any other business or engage in any activities that
conflict with the Company's best interests or which is in competition with the
Company.

     4. Hours of Work. The Executive's normal days and hours of work shall
coincide with the Company's regular business hours. The nature of the
Executive's employment with the Company requires flexibility in the days and
hours that the Executive must work, and may necessitate that the Executive work
on other or additional days and hours.

     5. Location. The focus of the Executive's employment with Company shall be
wherever appropriate, including: New York, New York (or other such location in
the U.S. as determined by the Executive); the Company's facilities at Chaussee
de Waterloo, 200 1640 Rhode-St. Genese, Belgium; and the Company's facilities in
Israel.

<PAGE>

     6. Compensation.

     a. Base Salary. During the Term of the Executive's employment hereunder,
the Company shall pay or cause to be paid to the Executive, and the Executive
agrees to accept, in consideration for the Executive's services, monthly pro
rata payments, as earned and consistent with the Company's then-existing payroll
practices, of the annualized base salary of $400,000.00. All items of
compensation payable to Executive pursuant to this paragraph 6 shall be paid
directly to Executive or to an entity under his control, as Executive may
direct, in either case less all applicable taxes and other appropriate
deductions. The Executive shall receive an annual performance review, but the
decision to modify the Executive's base salary, and the amount of any such
modification, shall be at the sole discretion of the Company's Board of
Directors.

     b. Stock And Equity Incentive Plans.

          1. During the Term of the Executive's employment hereunder, the
Executive shall be eligible to participate in the Company's 2004 Equity
Incentive Plan or its successor plan (the "Plan") in accordance with the terms
and conditions of the Plan and of any agreements between the parties or grant
documents relating thereto. Except as set forth in paragraph 6(b)(2) herein
below, the decision to grant any award to the Executive pursuant to the Plan,
and the amount of any such award, shall be within the sole discretion of the
Company's Board of Directors.

          2. (a) In addition, subject to paragraphs 6(b)(2)(b) and 7 herein
below, the Company shall cause the Executive to be granted an aggregate of
100,000 shares of stock of the Company pursuant to the Plan (the "Granted
Shares"), the vesting schedule of which shall be as follows: 75,000 shares shall
become vested on the date of this Agreement and 25,000 shares shall vest on the
earlier of an IPO or the first anniversary of the date of this Agreement (the
"First Anniversary") or the occurrence of a "Change of Control."

          (b) The Executive's rights in respect of vesting of the Granted Shares
described in paragraph 6(b)(2)(a) are conditional upon the following: (i) the
Executive has not voluntarily resigned from his employment with the Company and
as a member of the Company's Board of Directors prior to the First Anniversary;
and (ii) the Executive has not been removed and/or been terminated for "Cause"
from his employment with the Company and from the Company's Board of Directors
prior to the First Anniversary. In either case, any of such Granted Shares that
have not previously vested shall not vest by operation of this paragraph, and
the Company shall have the right thereafter to repurchase any Granted Shares
that have not yet vested as of the date of such termination for a purchase price
of $0.01 per share by delivering such notice and such purchase price to the
Executive within thirty (30) days of such termination or removal.

          (c) All options to purchase Common Stock of the Company that were
previously granted to the Executive pursuant to the equity compensation plans
maintained by the Company, including without limitation the Company's 1998 Stock
Incentive Plan, shall remain subject to the terms and conditions of such option
grant(s) and the plan under which such options were granted.

          (d) For purposes of this Agreement, "Change of Control" shall mean the
first to occur of any of the following:

<PAGE>

                    1. any "person," as such term is used in Sections 13(d) and
14(d) of the Exchange Act (other than (A) the Company, (B) any trustee or other
fiduciary holding securities under an employee benefit plan of the Company, and
(C) any corporation owned, directly or indirectly, by the stockholders of the
Company in substantially the same proportions as their ownership of Stock), is
or becomes the "beneficial owner" (as defined in Rule 13d-3 under the Exchange
Act), directly or indirectly, of securities of the Company representing 30% or
more of the combined voting power of the Company's then outstanding voting
securities (excluding any person who becomes such a beneficial owner in
connection with a transaction immediately following which the individuals who
comprise the Board immediately prior thereto constitute at least a majority of
the Board, the entity surviving such transaction or, if the Company or the
entity surviving the transaction is then a subsidiary, the ultimate parent
thereof);

                    2. the following individuals cease for any reason to
constitute a majority of the number of directors then serving: individuals who,
on the Effective Date, constitute the Board and any new director (other than a
director whose initial assumption of office is in connection with an actual or
threatened election contest, including but not limited to a consent
solicitation, relating to the election of directors of the Company) whose
appointment or election by the Board or nomination for election by the Company's
stockholders was approved or recommended by a vote of at least two-thirds (2/3)
of the directors then still in office who either were directors on the Effective
Date or whose appointment, election or nomination for election was previously so
approved or recommended;

                    3. there is consummated a merger or consolidation of the
Company or any direct or indirect subsidiary of the Company with any other
corporation, other than a merger or consolidation immediately following which
the individuals who comprise the Board immediately prior thereto constitute at
least a majority of the Board, the entity surviving such merger or consolidation
or, if the Company or the entity surviving such merger is then a subsidiary, the
ultimate parent thereof; or

                    4. the stockholders of the Company approve a plan of
complete liquidation of the Company or there is consummated an agreement for the
sale or disposition by the Company of all or substantially all of the Company's
assets (or any transaction having a similar effect), other than a sale or
disposition by the Company of all or substantially all of the Company's assets
to an entity, immediately following which the individuals who comprise the Board
immediately prior thereto constitute at least a majority of the board of
directors of the entity to which such assets are sold or disposed of or, if such
entity is a subsidiary, the ultimate parent thereof.

Notwithstanding the foregoing, a Change in Control shall not be deemed to have
occurred by virtue of (x) an offering of securities of the Company that is
registered with the Securities and Exchange Commission or (y) the consummation
of any transaction or series of integrated transactions immediately following
which the holders of the Stock immediately prior to such transaction or series
of transactions continue to have substantially the same proportionate ownership
in an entity which owns all or substantially all of the assets of the Company
immediately following such transaction or series of transactions.

          (e) For purposes of this Agreement, "Cause" shall mean: (i) the
failure by the Executive to render services to the Company in accordance with
his assigned duties and responsibilities under this Agreement (other than any
such failure resulting from the

<PAGE>

Executive's Disability), which failure continues for a period of more than
thirty (30) days after written notice thereof has been provided to the Executive
by the Company's Board of Directors; (ii) willful misconduct or gross negligence
of the Executive in the performance of his duties and responsibilities for the
Company or any of its subsidiaries or affiliates under this Agreement; (iii) the
Executive's conviction of, or plea of guilty or nolo contendre to, a felony,
whether or not committed in the course of performing his duties for the Company
or any of its subsidiaries or affiliates; (iv) the Executive's disloyalty,
deliberate dishonesty, breach of fiduciary duty or material breach of the terms
of this Agreement; (v) the commission by the Executive of embezzlement, theft or
any other fraudulent act or omission; (vi) the commission by the Executive of
any act or omission in deliberate disregard of the rules or policies of the
Company that results in material loss, damage or injury to the Company or any of
its subsidiaries or affiliates or materially adversely affects the business
activities, reputation, goodwill or image of the Company or any of its
subsidiaries or affiliates; (vii) the unauthorized disclosure by the Executive
of any "Confidential Information," as that term is defined in paragraph 8 herein
below, that results in material loss, damage or injury to the Company or any of
its subsidiaries or materially adversely affects the business activities,
reputation, goodwill or image of the Company or any of its subsidiaries or
affiliates; (viii) the commission by the Executive of any act that constitutes
unfair competition with the Company or any of its subsidiaries or affiliates;
(ix) the material breach by the Executive of any agreement to which he and the
Company or any of its subsidiaries or affiliates are parties that results in
material loss, damage or injury to the Company or any of its subsidiaries or
affiliates, or materially adversely affects the business activities, reputation,
goodwill or image of the Company or any of its subsidiaries or affiliates.

     c. Group Health Insurance. During the Term of the Executive's employment
hereunder, the Company shall continue to pay or reimburse Executive for premium
payments and other costs actually paid or incurred by the Executive to maintain
Executive's health and medical insurance policy for himself and his family with
Signal Versicherungen (or with such other health care provider as the Executive
shall choose), and will pay or reimburse Executive for any additional or
incremental costs for health and medical insurance coverage required in
connection with Executive's performance of services hereunder in the United
States provided however, that the Executive shall cooperate with the Company in
obtaining such policy and other coverage on the most cost-efficient terms.

     d. Vacation. During the Term of the Executive's employment hereunder, the
Executive shall be entitled to twenty-five (25) vacation days per fiscal year,
which amount shall be pro-rated for any partial fiscal year during which the
Executive is employed by the Company. The Executive shall be entitled to carry
over 10 (ten) unused vacation days earned in any fiscal year through the first
half of the next fiscal year, following which period any such unused vacation
days shall be forfeited.

     e. Holidays. During the Term of the Executive's employment hereunder, the
Executive shall be entitled to all legal holidays observed by the Company in its
offices in Belgium or the United States, according to where the Executive is
working on such a day, in addition to his vacation days described in paragraph
6(d) herein above.

     f. Retirement Plan. During the Term of the Executive's employment
hereunder, the Executive shall be eligible to participate in the Company's
retirement plan, in accordance with the terms and conditions of such plan, if
and when the Company adopts such a plan and as such plan may be in effect from
time to time.
<PAGE>

     g. Life Insurance. During the Term of the Executive's employment hereunder,
the Company shall reimburse the Executive for the premiums actually paid by him
to procure and maintain a term life insurance policy for the benefit of the
beneficiary designated by the Executive (or to maintain an existing term life
insurance policy) having a death benefit equal to two times the Executive's base
salary (as in effect from time to time). In the event that the Executive
currently maintains a term life insurance policy having a death benefit greater
than two times his base salary, in lieu of the Executive procuring a new term
life insurance policy that has a death benefit not greater than two times his
base salary, the Company shall pay a pro-rata share of the premium for such
policy calculated by multiplying the premium payment by a fraction, the
numerator of which is equal to two times the Executive's base salary and the
denominator of which is the death benefit of such policy, provided however, that
the Executive shall cooperate with the Company in obtaining such policy on the
most cost-efficient terms.

     h. Annual Bonus. During the Term of the Executive's employment hereunder,
the Executive shall be eligible to participate in the Company's management bonus
plan, as shall be set forth from time to time, and in accordance with the terms
and provisions thereof ("Annual Bonus"). In the event that the Executive becomes
entitled to an Annual Bonus in accordance with the terms and conditions of such
a plan, the Executive's annual bonus shall be no less than 25 percent of his
then-current base salary.

     i. Automobile. During the Term of the Executive's employment hereunder, the
Company shall continue to provide an Audi A6 automobile to the Executive
pursuant to the lease arrangements in effect on the date of this Agreement for
use by the Executive in connection with his performance of services in Brussels,
Belgium. The Company shall pay all reasonable expenses incurred by the Executive
for the operation, maintenance and repair of such automobile. If this Agreement
is still in effect at such time as the acquisition of a new automobile is
appropriate, as determined by the Company in its sole discretion, the Company
shall provide the Executive with a new automobile comparable to the present Audi
A6. The Company shall not be required to provide Executive with an automobile in
connection with his performance of services in the U.S.

     j. Relocation Expenses. The cost of relocating the executive and his wife
to the U.S. and the cost of the return back to Belgium will be paid by Omrix.
Such costs will include real estate fees, household moving expenses, if any, and
costs customarily involved in personnel relocations.

     During the Term of the Executive's employment hereunder, if Executive
relocates to the U.S. (initially, New York City), (i) the Company shall either
lease a suitable fully furnished, fully serviced, two-bedroom apartment in
Manhattan, New York City (the "Apartment"), for the Executive to reside in or
reimburse the Executive for lease payments actually incurred by the Executive in
respect of renting such an apartment; (ii) pay or reimburse the Executive for
all relocation expenses paid or incurred by him in connection with his move to
such premises; (iii) in the event Executive leases the Apartment, pay or
reimburse Executive for all expenses paid or incurred by him in connection with
the leasing and occupancy of such apartment, including broker's or agent's
commissions, furniture and furnishings, advance of any required security deposit
(which security deposit, upon reimbursement to the Executive shall be remitted
by the Executive back to the Company); and (iv) in addition to air fare and
travel expenses incurred by the Executive related to performing his duties and
responsibilities hereunder, the Company shall pay or reimburse the Executive and
his wife for the business class air fare for up to 4 round trips between
Brussels,

<PAGE>

Belgium and New York, New York in each year of the term of this Agreement. To
obtain reimbursement of any expenses, the Executive shall be required to submit
receipts or other appropriate documentation to the Company evidencing the
Executive's actual expenditures.

     During the temporary assignment in Manhattan, the Executive may incur
living costs that exceed what the Executive customarily has been paying in
Belgium for such costs. In order to compensate for this difference, Omrix will
reimburse the Executive up to $5,000 for every month spent in New York, New
York.

     If the reimbursement of any of the above-described expenses is required to
be included in the Executive's U.S. taxable income, Omrix will make a gross-up
payment to the Executive to equalize any resulting taxes.

     As a general statement, it is not intended that the Executive's move to the
U.S. should generate any incremental income taxes to him. However, in the event
that the move does generate incremental income taxes, the Company will make such
payments necessary to equalize the income tax situation to what existed prior to
his moving to the U.S. The Company will bear the cost of a third party tax
auditor who will determine the extent of any incremental taxes due to the
employee.

     In the event that the relocation of the Company's U.S. offices is
determined to be in a place other than New York, New York, the same provisions
of section j immediately above will apply.

     7. Termination.

     a. Death.

          1. In the event that, during the Initial Term, the Executive dies,
this Agreement and the Executive's employment with the Company shall
automatically terminate on the date of the Executive's death, and the Company
shall have no further obligations or liability to the Executive or his heirs,
administrators or executors with respect to compensation and benefits
thereafter, except for the obligation to pay the Executive's heirs,
administrators or executors (a) any earned but unpaid base salary and any unused
and unforfeited accrued vacation through the date of death; (b) an amount equal
to the Executive's base salary payable in accordance with the procedures set
forth in paragraph 6(a) herein above through the Scheduled Separation Date or
for a period of one year from the date of the Executive's date of death,
whichever is longer; and (c) an amount to cover the cost of relocation of the
Executive's family back to Belgium.

          2. In the event that the Initial Term is extended or renewed by
operation of paragraph 1.a. for a period of at least one year subsequent to the
Scheduled Separation Date and the Executive shall die during the extended Term,
this Agreement and the Executive's employment with the Company shall
automatically terminate on the date of the Executive's death, and the Company
shall have no further obligations or liability to the Executive or his heirs,
administrators or executors with respect to compensation and benefits
thereafter, except for the obligation to pay the Executive's heirs,
administrators or executors (a) any earned but unpaid base salary and any unused
and unforfeited accrued vacation through the date of death; (b) an amount equal
to a pro rata portion of any Annual Bonus awarded to the Executive in respect of
the bonus year in which his death occurred; (c) an amount equal to the
Executive's base salary payable in accordance with the procedures set

<PAGE>

forth in paragraph 6(a) herein above for the one-year period of one year from
the date of death; (d) an amount equal to the most recent full or pro rata, as
applicable, Annual Bonus paid to the Executive prior to his death; and (e) an
amount to cover the cost of relocation of the Executive's family back to
Belgium.

     b. Disability.

          1. In the event that, during the Term of this Agreement, including any
extension or renewal period thereof, the Executive shall be prevented from
performing his duties and responsibilities hereunder to the full extent required
by the Company by reason of illness, injury or incapacity, with or without
reasonable accommodation that does not impose undue hardship on the Company, for
a period of not less than ninety (90) consecutive days ("Disability"), then the
Company, in its sole discretion, may terminate this Agreement and the
Executive's employment with the Company with immediate effect by providing
written notice to the Executive.

          2. In the event that the Company terminates this Agreement and the
Executive's employment with the Company during the Initial Term of the
Executive's employment hereunder, because of a Disability, the Company shall
thereafter have no further obligations or liability to the Executive with
respect to compensation and benefits thereafter, except for the obligation to
pay to the Executive (a) any earned but unpaid base salary any unused and
unforfeited accrued vacation through the date of termination; (b) an amount
equal to the Executive's base salary payable in accordance with the procedures
set forth in paragraph 6(a) herein above through the Scheduled Separation Date
or for a period of one year from the date of termination, whichever is longer;
and (c) an amount to cover the cost of relocation of the Executive's family back
to Belgium.

          3. In the event that the Initial Term is extended or renewed by
operation of paragraph 1.a. for a period of at least one year subsequent to the
Scheduled Separation Date and the Company terminates this Agreement and the
Executive's employment with the Company because of a Disability during the
extended Term, the Company shall have no further obligations or liability to the
Executive with respect to compensation and benefits, except for the obligation
to pay to the Executive (a) any earned but unpaid base salary and any unused and
unforfeited accrued vacation through the date of termination; (b) a pro rata
portion of any Annual Bonus awarded to the Executive in respect of the bonus
year in which his termination occurred; (c) the Executive's base salary payable
in accordance with the procedures set forth in paragraph 6(a) herein above for a
period of one year from the date of termination; and (d) an amount equal to the
most recent full or pro rata, as applicable, Annual Bonus paid to the Executive
prior to his termination; and (e) an amount to cover the cost of relocation of
the Executive's family back to Belgium.

     c. By The Company For "Cause" or By The Executive Without "Good Reason." At
any time during the Term of this Agreement, including any extension or renewal
period thereof, the Company may terminate this Agreement and the Executive's
employment with the Company, with immediate effect, for "Cause," as that term is
defined in paragraph 6(e) herein above, by providing written notice to the
Executive. At any time during the Term of this Agreement, including any
extension or renewal period thereof, the Executive may voluntarily terminate
this Agreement and his employment with the Company without "Good Reason" (as
defined below) upon ninety (90) days prior written notice to the Company. In the
event that the Company terminates this Agreement and the Executive's employment
with

<PAGE>

the Company for "Cause," or the Executive terminates this Agreement and his
employment without Good Reason, the Company shall thereafter have no further
obligations or liability to the Executive with respect to compensation and
benefits thereafter, except for the obligation to pay to the Executive (a) any
earned but unpaid base salary through the date of termination and (b) any unused
and unforfeited accrued vacation through the date of termination.

     d. By The Executive Because Of A "Change Of Control."

          1. At any time during the Term of this Agreement, including any
extension or renewal period thereof, the Executive may terminate this Agreement
and his employment with the Company following a Change of Control upon at least
one (1) months' prior written notice to the Company if (i) a Change of Control,
as that term is defined in paragraph 6(b)(2)(c) above occurs and (ii) during the
one-year period following such Change in Control, (x) the Executive's duties and
responsibilities hereunder for the Company are materially reduced or diminished
and such reduction, diminution continues uninterrupted for a period of at least
one (1) month, or (y) the Executive is required to relocate the focus of his
duties hereunder to a location other than New York City or Brussels, Belgium. In
the event that the Executive terminates this Agreement and his employment with
the Company in the event of a Change of Control, the Company shall have no
further obligations or liability to the Executive with respect to compensation
and benefits, except for the obligation to pay or provide to the Executive (a)
any earned but unpaid base salary and any unused and unforfeited accrued
vacation through the date of termination; (b) a pro rata portion of any Annual
Bonus awarded to the Executive in respect of the previous bonus year in which
his terminated occurred (for the avoidance of doubt, if the Executive received
an Annual Bonus of $100,000 for the previous year and terminates this Agreement
because of a Change of Control, effective after eight (8) months of the current
year, the Executive would be paid eight twelfths or two thirds of the previous
year's Annual Bonus, in this case, $66,667); (c) the Executive's base salary
payable in accordance with the procedures set forth in paragraph 6(a) herein
above for a period of 2 years from the last date of the Executive's employment
with the Company, (d) coverage under all healthcare benefits in place at the
time of termination for a period of one (1) year following the termination, and
(e) the vesting provisions for stock options and granted stock as enumerated in
the then prevailing Stock Option Plan with regard to a termination occurring as
a result of a Change of Control, provided however, that in the event that the
Executive's last date of employment with the Company occurs less than one (1)
month after the Company's receipt of the Executive's written notice of
termination because of a Change of Control, the Executive shall not be entitled
to any portion of the compensation described in this paragraph 7d. Any expenses,
including relocation expenses not reimbursed by the Company at the time of
termination should be submitted within one (1) month of the time of termination,
with appropriate documentation, to the Chairman of the Board for review and
prompt payment, if warranted.

          2. If any of the payments or benefits received or to be received by
the Executive in connection with a Change in Control or the Executive's
termination of employment (whether pursuant to the terms of this Agreement or
any other plan, arrangement or agreement with the Company) (such payments or
benefits, excluding the Gross-Up Payment as defined below, being hereinafter
referred to as the "Total Payments"), will be subject to the excise tax imposed
under Section 4999 of the United States Internal Revenue Code of 1986, as
amended, the Company shall pay to the Executive an additional amount (the
"Gross-Up Payment") such that the net amount retained by the Executive, after
deduction of any excise tax on the Total Payments and any federal, state and
local income and

<PAGE>

employment taxes and excise tax upon the Gross-Up Payment, shall be equal to the
Total Payments. All determinations required to be made under paragraph,
including whether and when a Gross-Up Payment is required and the amount of such
Gross-Up Payment and the assumptions to be utilized in arriving at such
determination, shall be made by a nationally recognized accounting firm (the
"Accounting Firm") selected by the Company and reasonably acceptable to the
Executive which shall provide detailed supporting calculations both to the
Company and the Executive within 15 business days of the receipt of notice from
the Executive that there has been a payment, or such earlier time as is
requested by the Company. All fees and expenses of the Accounting Firm shall be
borne solely by the Company. Any Gross-Up Payment, as determined pursuant to
this paragraph 8(d)(2), shall be paid by the Company to the Executive within
five days of the receipt of the Accounting Firm's determination. Any
determination by the Accounting Firm shall be binding upon the Company and the
Executive, absent manifest error. As a result of the uncertainty in the
application of Section 4999 of the Code at the time of the initial determination
by the Accounting Firm hereunder, it is possible that Gross-Up Payments which
will not have been made by the Company should have been made (an
"Underpayment"), consistent with the calculations required to be made hereunder.
In the event that the Executive thereafter is required to make a payment of any
Excise Tax, the Accounting Firm shall determine the amount of the Underpayment
that has occurred and any such Underpayment shall be promptly paid by the
Company to or for the benefit of the Executive. If, after the receipt by the
Executive of an amount advanced by the Company pursuant to this paragraph
8(2)(b), the Executive becomes entitled to receive any refund with respect to
the excise tax, the Executive shall promptly pay to the Company the amount of
such refund (together with any interest paid or credited thereon after taxes
applicable thereto).

     e. By The Executive For "Good Reason" or By the Company Without Cause.

          1. At any time during the Term of this Agreement, including any
extension or renewal period thereof, the Executive may terminate this Agreement
and his employment with the Company for "Good Reason" upon at least at least
thirty (30) days prior written notice to the Company, or the Company may
terminate this Agreement and the Executive's employment with the Company without
cause upon thirty (30) days prior written notice to the Executive, such prior
written notice by both parties commencing upon the failure, acknowledged by
either party in writing, that the good faith negotiations entered into for
dispute resolution (see section 10 below) are no longer in effect. For purposes
of this Agreement, "Good Reason" shall mean: (a) a material diminution of the
Executive's duties and responsibilities hereunder for the Company which
continues uninterrupted for a period of at thirty (30) days; or (b) any
reassignment of the Executive or any relocation of the Executive's permanent
position with the Company from either the Company's present office near
Brussels, Belgium or from the Executive's work location initially in New York,
New York (or at another U.S. location agreed to by the Executive as per section
5 above); (c) a material change in the focus or business direction of the
Company that continues uninterrupted for a period of at least three (3) months;
(d) a material default by the Company of a material term of this Agreement that
continues uncured for more than thirty (30) days; (e) a failure of the business
operations of the Company that results in the closing of the Company's
operations; (f) a change in the Executive's title to exclude the term Chief
Executive Officer; or (g) a change in the Executive's reporting relationship to
anything other than to the Omrix Board of Directors.

          2. Notwithstanding anything to the contrary contained herein, no event
of "Good Reason" shall be deemed to have occurred unless and until the Executive
shall have

<PAGE>

provided written notice to the Chairman of the Board of Directors of the Company
describing the facts and circumstances that the Executive believes constitute
"Good Reason" and such facts and circumstances are not corrected or otherwise
cured by the Company within a thirty (30) day period or within the subsequent
good faith dispute resolution period that immediately follows this thirty (30)
day period.

          3. In the event that the Executive terminates this Agreement and his
employment with the Company for "Good Reason," or the Company terminates this
Agreement and the Executive's employment without Cause, the Company shall have
no further obligations or liability to the Executive with respect to
compensation and benefits, except for the following obligations to pay or
provide to the Executive (a) any earned but unpaid base salary and any unused
and unforfeited accrued vacation through the date of termination; (b) a pro rata
portion of any Annual Bonus awarded to the Executive in respect of the previous
bonus year in which his terminated occurred (for the avoidance of doubt, if the
Executive received an Annual Bonus of $100,000 for the previous year and
terminates this Agreement for Good Reason or the Company terminates this
Agreement and the Executive's employment without cause, effective after eight
(8) months of the current year, the Executive would be paid eight twelfths or
two thirds of the previous year's Annual Bonus, in this case, $66,667); (c) the
Executive's base salary payable in accordance with the procedures set forth in
paragraph 6(a) herein above for a period of 2 years from the last date of the
Executive's employment with the Company, (d) coverage under all healthcare
benefits in place at the time of termination for a period of one (1) year
following the termination, and (e) the vesting provisions for stock options and
granted stock as enumerated in the then prevailing Stock Option Plan with regard
to a termination occurring as a result of a Termination of Employment or
Service. Any expenses, including relocation expenses not reimbursed by the
Company at the time of termination should be submitted within one (1) month of
the time of termination, with appropriate documentation, to the Chairman of the
Board for review and prompt payment, if warranted.

     f. Non-Renewal Of Agreement.

          1. In the event that either party shall provide a notice of
non-renewal in accordance with the procedures set forth in paragraph 1 herein
above (or if the parties mutually elect not to extend or renew this Agreement),
this Agreement and the Executive's employment with the Company shall
automatically terminate as of the Scheduled Separation Date or the anniversary
of the Scheduled Separation Date next following the date of such notice, as the
case may be. The Company shall have no further obligations or liability to the
Executive with respect to compensation and benefits thereafter, except for the
obligation to pay to the Executive (a) any earned but unpaid base salary through
the date of termination; (b) any unused and unforfeited accrued vacation through
the date of termination; and (c) any expenses, including relocation expenses not
reimbursed by the Company at the time of termination, which should be submitted
by the Executive within one (1) month of the time of termination, with
appropriate documentation, to the Chairman of the Board for review and prompt
payment, if warranted.

     g. All payments to the Executive described in this paragraph 7 shall be
paid directly to Executive or to an entity under his control, as Executive may
direct, in either case subject to the Company's deduction from all such payments
all applicable taxes and other appropriate deductions.
<PAGE>

     h. Granted Shares. In the event that this Agreement and the Executive's
employment with the Company terminates pursuant to paragraphs 7(a), (b), or (d)
herein above, the Executive shall retain his rights in respect of vesting of the
Granted Shares set forth in paragraph 6(b)(2)(a) herein above provided that,
other than in the case of the Executive's death, the Executive continues to
provide services to the Company (for example, in a consulting capacity or as a
continuing member of the Company's Board of Directors) at the time of each such
scheduled vesting date. In the event that this Agreement and the Executive's
employment with the Company terminates pursuant to paragraphs 7(e), subject to
the Executive's compliance with the restrictions set forth in paragraph 9 below,
any granted stock that is not vested as of the time of termination will continue
its eligibility to vest during the one (1) year period following termination. In
the Event that this Agreement and the Executive's employment with the Company
terminates pursuant to paragraph 7(c) and the Executive has resigned or been
removed as a member of the Company's Board of Directors, the Executive's rights
in respect of vesting of the Granted Shares set forth in paragraph 6(b)(2)(a)
shall lapse as of the latest date of such termination, resignation and/or
removal, pursuant to paragraph 6(b)(2)(b) and any unvested shares shall be
forfeited.

     i. Release by Executive: In consideration of the benefits provided under
this Agreement, the Executive agrees and covenants (i) to execute at the time of
his termination of employment a general release, in the form attached hereto as
Exhibit B (the "Release"), of any and all claims he may have or may believe he
has against the Company and/or its officers, directors, employees, shareholders,
agents and representatives; (ii) not to seek any recovery against the Company or
its officers, directors, employees, shareholders, agents or representatives for
any cause or reason related to or arising from his employment with the Company
or the termination thereof, other than a failure or refusal of the Company to
pay him (x) the benefits described in Sections 7b, 7d, or 7e hereof, and (y) the
benefits to which he is entitled subsequent to his termination of employment
pursuant to the terms of one or more of the Company's employee benefit plans.

     j. Release by Company: In consideration for the release and terms provided
under this Agreement, the Company, its successors and assigns, agrees and
covenants to execute at the time of the Executive's termination of employment a
general release, in the form attached hereto as Exhibit C (the "Release") to
completely release the Executive and all his successors and assigns, from any
and all claims, actions and causes of action, including those which the Company
has or might have concerning the employment relationship between the parties or
the termination of employment, up to the date of termination. All such claims
are forever barred by this Agreement and without regard as to whether those
claims are based upon any alleged breach of contract or covenant of good faith
and fair dealing; any alleged tortuous act resulting in physical injury,
emotional distress, or damage to reputation or other damages; or any other claim
or cause of action.

     8. Confidential Information And Assignment Of Inventions. The Executive
agrees to abide and be bound by the terms and conditions of the sections
entitled "Confidentiality" and "Assignment of Inventions" contained in that
certain Employee Confidentiality, Inventions, Non-Solicitation and
Non-Competition Agreement dated as of January 13, 2005 (the "Confidentiality
Agreement"). Said terms and conditions and any related definitions are
incorporated herewith by reference.

     9. Non-Competition And Non-Solicitation.

<PAGE>

     a. The Executive agrees and acknowledges that the Confidential Information
that he has received and will continue to receive from the Company and/or its
affiliates is valuable to the Company and/or its affiliates, and that its
protection and maintenance constitutes a legitimate business interest of Company
and/or its affiliates to be protected by the non-competition and
non-solicitation restrictions set forth herein, and that it would cause drastic
and irreparable harm to the Company and/or its affiliates were the Executive to
utilize or disclose any Confidential Information in competition with the Company
and/or its affiliates. The Executive agrees and acknowledges that the
non-competition and non-solicitation restrictions set forth herein are
reasonable and necessary to protect the above-described legitimate interests of
the Company and/or its affiliates and do not impose undue hardship or burdens on
the Executive. The Executive further agrees and acknowledges that the products
and services developed or provided by the Company and/or its affiliates are or
are intended to be sold, provided, licensed and/or distributed to customers and
clients in and throughout the world ("the Geographic Boundary"), and that the
Geographic Boundary, scope of prohibited competition, and time duration set
forth in the non-competition and non-solicitation restrictions set forth herein
are reasonable and necessary to maintain the value of the Confidential
Information of, and to protect the goodwill and other legitimate business
interests of, the Company and/or its affiliates.

     b. The Executive hereby agrees and covenants that he shall not, directly or
indirectly, in any capacity whatsoever, including, without limitation, as an
employee, employer, consultant, member, principal, partner, shareholder,
officer, director, agent, holder of financial interest, or any other individual
or representative capacity, in any individual, partnership, corporation, limited
liability company, association, trust, joint venture, unincorporated association
or government entity ("Person"), whether on the Executive's own behalf or on
behalf of any Person or entity or otherwise howsoever (other than as a holder of
not more than one percent (1%) of the combined voting power of the outstanding
stock of a publicly held company), during the Executive's employment with the
Company and for a period of one (1) year following after the termination or
cessation of this Agreement and of the Executive's employment with the Company
for any reason:

          (i) Directly or indirectly engage in, own, manage, operate, control,
be employed by, consult for, participate in, or be connected in any manner with
the ownership, management, operation or control of any business in competition
with the "business of the Company or its affiliates or their successors." The
"business of the Company or its affiliates or their successors" is defined as
the business of plasma fractionation or manufacturing, selling, researching,
distributing, marketing or otherwise conducting business in any way relating to
the development, manufacture, sale or distribution of plasma derivative
products, (except Peg-liposomal pdFVIII of Recoly) including, without
limitation, biological surgical or fibrin adhesives, whether the Company is
actually engaged in such business activities or has taken action to begin
engaging in such business activities, even if any related services or products
are not completed or ready for marketing or distribution, at the time that this
Agreement and the Executive's employment with the Company terminates.

          (ii) Directly or indirectly recruit, hire, induce, contact, entice,
divert or solicit; attempt to recruit, hire, induce, contact, entice, divert or
solicit; or cause to be recruited, hired, induced, contacted, enticed, diverted
or solicited, any employee, consultant or independent contractor of the Company
and/its affiliates to leave the employment or other relationship with the
Company and/or its affiliates for any reason, including, without limitation, for
the purposes of providing services to another Person, whether or not any such

<PAGE>

employee, consultant or independent contractor is party to an employment
agreement, consulting agreement, independent contractor agreement or other
agreement, provided however, that the Executive may hire or assist in hiring a
former employee, consultant or independent contractor of the Company and/or its
affiliates who terminated his/her employment, consulting or independent
contractor relationship with the Company and/or its affiliates, and unilaterally
approached the Company and/or its affiliates, entirely independent of any direct
or indirect involvement by the Executive.

          (iii) Directly or indirectly contact, call on, induce, divert, entice,
take away or solicit; attempt to contact, call on, induce, divert, entice take
away or solicit; or cause to be contacted, called on, induced, diverted,
enticed, taken away or solicited, any customer or client of the Company and/or
its affiliates, or any business or patronage enjoyed by the Company and/or its
affiliates, with whom or with which the Executive was involved or had a
relationship, or whose identity became known to the Executive, during or as a
result of his employment with the Company, for any purpose or reason related to
the business of the Company or its affiliates or their successors.

     c. If any of the restrictive covenants set forth in paragraph 9(b) of this
Agreement is held to be invalid, illegal or unenforceable (in whole or in part),
such restrictive covenant shall be deemed modified to the extent, but only to
the extent, of such invalidity, illegality or unenforceability, and a court of
competent jurisdiction shall have the power to modify, any such restrictive
covenant to the extent necessary to render such provision enforceable, and the
remaining restrictive covenant shall not be affected thereby.

     d. In the event of a violation of any of the restrictive covenants set
forth in paragraph 9(b) of this Agreement, if the Executive is prevented by a
court or arbitrator from committing any further violation, whether by a
temporary restraining order, injunction or otherwise, the time periods set forth
in paragraph 9(b) of this Agreement shall be computed by commencing the periods
on the date of the applicable court or arbitrators' order and continuing them
from that date for the full period provided.

     10. Dispute Resolution. The Executive and the Company agree that prior to
entering into a Dispute Resolution procedure as described below, they will
attempt in good faith to settle any such disputes amicably. Subject to paragraph
12(d) herein below, the Executive and the Company agree that any and all
disputes, controversies or claims, whether based on contract, tort,
discrimination, harassment, retaliation, or otherwise, relating to, arising
from, or connected in any manner with this Agreement or with the Executive's
employment with the Company (including, without limitation, the termination or
cessation of this Agreement and the Executive's employment with the Company),
shall be resolved exclusively through final and binding arbitration under the
auspices of the American Arbitration Association ("AAA") and in accordance with
the Commercial Arbitration Rules of the AAA. The arbitration shall be held in
the Borough of Manhattan, New York, New York. The arbitration shall be conducted
by a single arbitrator licensed to practice law. The arbitration shall be
commenced by filing a demand for arbitration within 60 days after the occurrence
of facts giving rise to any such dispute, controversy or claim. The arbitrator
shall have jurisdiction to determine any claim, including the arbitrability of
any claim, submitted to him/her. The arbitrator may grant any relief authorized
by law for any properly established claim. The costs of the arbitration shall be
borne by the Company. The interpretation and enforceability of this paragraph of
this Agreement shall be governed and construed in accord with the United States
Federal Arbitration Act, 9. U.S.C. Section 1, et seq. More specifically, the
parties agree to submit to binding such arbitration any and all claims for
unpaid salary,

<PAGE>

bonuses, benefits, stock options or stock incentives, or for alleged
discrimination, harassment, or retaliation arising under Sections 1981 through
1988 of Title 42 of the United States Code, the New York State Labor Law, Title
VII of the Civil Rights Act of 1964, the Americans With Disabilities Act of
1990, the Civil Rights Act of 1991, the Civil Rights Act of 1866, the Civil
Rights Act of 1871, the Age Discrimination in Employment Act of 1967 ("ADEA")
(as amended by the Older Workers' Benefits Protection Act ("OWBPA")), the Family
and Medical Leave Act, the Equal Pay Act, the Fair Labor Standards Act, the
Employee Retirement Income Security Act, the Rehabilitation Act of 1973, the
Immigration Reform and Control Act of 1986, the Sarbanes-Oxley Act of 2002, the
National Labor Relations Act, the Consolidated Omnibus Budget Reconciliation Act
of 1985, the New York State Labor Law, the New York State Equal Pay Law, the New
York State Human Rights Law, the New York State Executive Law, the
Administrative Code of the City of New York, the New York City Human Rights Law,
the Delaware Fair Employment Practices Law, and any other federal, state, or
local law, regulation, or ordinance, and any common law claims, claims for
breach of contract, or claims for declaratory relief. The Executive acknowledges
that the purpose and effect of this paragraph is solely to elect private
arbitration in lieu of any judicial proceeding he might otherwise have available
to him in the event of an employment-related dispute between him and the
Company. Therefore, the Executive hereby waives his right to have any such
dispute heard by a court or jury, as the case may be, and agrees that his
exclusive procedure to redress any employment-related claims will be
arbitration.

     11. Notice. For purposes of this Agreement, notices and all other
communications provided for in this Agreement or contemplated hereby shall be in
writing and shall be deemed to have been duly given when personally delivered,
delivered by a nationally recognized overnight delivery service or when mailed
via United States Certified or registered mail, return receipt requested,
postage prepaid, and addressed as follows:

          If to the Company (both addresses):

          Omrix Biopharmaceuticals, Inc.
          Chaussee de Waterloo, 200
          B-1640 Rhode St Genese
          Brussels, Belgium
          Telephone: + 32 2 3599123
          Facsimile  + 32 2 3599149
          Attention: Chairman of the Board

          Fredric Price
          Chairman of the Board
          64 Quarry Lane
          Bedford, New York 10506
          Telephone: +1 914-234-2268
          Facsimile: +1 914-234-6684

          If to the Executive (both addresses):

          Robert Taub
          37, Avenue des Eglantiers
          B-1180
          Brussels, Belgium

<PAGE>

          20 West 64th Street, Apt 30R
          New York, New York 10023
          U.S.A.

     12. Miscellaneous.

     a. Telephones, stationery, postage, e-mail, the internet and other
resources made available to the Executive by the Company, are solely for the
furtherance of the Company business.

     b. All construction and interpretation of this Agreement shall be governed
by and construed in accord with the internal laws of the State of Delaware,
without giving effect to that State's principles of conflicts of law.

     c. The Executive and the Company agree that any provision of this Agreement
deemed unenforceable or invalid may be reformed to permit enforcement of the
objectionable provision to the fullest permissible extent. Any provision of this
Agreement deemed unenforceable after modification shall be deemed stricken from
this Agreement, with the remainder of the Agreement being given its full force
and effect.

     d. The Company shall be entitled to equitable relief, including injunctive
relief and specific performance as against the Executive, for the Executive's
threatened or actual breach of paragraphs 8 or 9 of this Agreement, as money
damages for a breach thereof would be incapable of precise estimation,
uncertain, and an insufficient remedy for an actual or threatened breach of
paragraphs 8 or 9 of this Agreement. The Executive and the Company agree that
any pursuit of equitable relief in respect of paragraphs 8 or 9 of this
Agreement shall have no effect whatsoever regarding the continued viability and
enforceability of paragraph 11 of this Agreement.

     e. Any waiver or inaction by the Company for any breach of this Agreement
shall not be deemed a waiver of any subsequent breach of this Agreement.

     f. The Executive and the Company independently have made all inquiries
regarding the qualifications and business affairs of the other which either
party deems necessary. The Executive affirms that he is knowledgeable and
sophisticated as to business matters, including the subject matter of this
Agreement, and has read and fully understands this Agreement's meaning and
legally binding effect. The Executive further affirms that, prior to assenting
to the terms of this Agreement, he had been provided with a reasonable time to
review it, consult with counsel of his own choice, and to negotiate at arm's
length with the Company as to the contents of the Agreement. The Executive
further affirms that each party has participated fully and equally in the
negotiation and drafting of this Agreement, that the provisions in this
Agreement represents accurately the expression of their mutual intent, and that
he has entered into this Agreement freely and voluntarily and without pressure
or coercion from anyone. Each party assumes the risk of any misrepresentation or
mistaken understanding or belief relied upon by him or it in entering into this
Agreement.

     g. The Company and the Executive agree that the Executive's obligations to
the Company during the Executive's employment with the Company, as well as any
other obligation of the Executive under this Agreement, may be assigned to any
successor in interest to the Company or any division or affiliate of the Company
in its sole discretion and without additional consideration or prior notice to
the Executive, but that nothing requires the

<PAGE>

Company to do so. The Executive's obligations under this Agreement are personal
in nature and may not be assigned by the Executive to any other person or
entity.

     h. The Company and the Executive acknowledge and agree that future
alterations to the Executive's work hours, number of subordinate employees,
sales or promotional budgets, or with businesses affiliated with the Company, or
similar changes or alterations may occur periodically during the Executive's
employment with the Company. The Company and the Executive agree that the
Company, in its sole discretion, may implement material alterations or
adjustments in the areas described above for any or no reason and that any such
action shall not constitute a breach of this Agreement so long as the Company
continues to perform its obligations as provided by this Agreement.

     i. This instrument (including the Exhibits hereto) constitutes the entire
Agreement between the parties regarding its subject matter. This Agreement
supersedes and nullifies all prior or contemporaneous conversations,
negotiations, or agreements, oral and written, regarding the subject matter of
this Agreement and the Executive's employment with the Company, including,
without limitation, the Former Employment Agreement and the Consulting
Agreement, dated as of January 13, 2005, between the Company and the Executive,
and each pre-existing agreement is hereby terminated in its entirety, except for
the following agreements: (i) that certain "Stockholders' Agreement By and Among
Omrix Pharmaceuticals, Inc. and the Common Stockholders Listed on Exhibit A
Hereto" dated as of January 13, 2005; (ii) that certain "Investors' Rights
Agreement By and Among Omrix Pharmaceuticals, Inc. and the Common Stockholders
Listed on Exhibit A Hereto" dated as of January 13, 2005; (iii) the Company's
1998 Stock Incentive Plan; (iv) the Company's 2004 Equity Incentive Plan and any
successor plan; and (v) that certain "Director Indemnification Agreement"
between the Company and the Executive dated as of January 13, 2005. In any
future construction of this Agreement, this Agreement should be given its plain
meaning. This Agreement may only be amended by a writing signed by the Company
and the Executive.

     j. This Agreement may be executed in counterparts, a counterpart
transmitted via facsimile, and all executed counterparts, when taken together,
shall constitute sufficient proof of the parties' entry into this Agreement. The
parties agree to execute any further or future documents which may be necessary
to allow the full performance of this Agreement. This Agreement contains
headings for ease of reference. The headings have no independent meaning.

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

                                        By: /s/ Robert Taub
                                            ------------------------------------
                                            ROBERT TAUB

                                        OMRIX BIOPHARMACEUTICALS, INC.

                                        By: /s/ Fredric Price
                                            ------------------------------------
                                        Name: Fredric Price
                                        Title: Chairman of the Board
<PAGE>

EXHIBIT A

The Company acknowledges that the Executive maintains the following ownership
interests and investments and may as a result serve as a member of the board of
directors of the entities listed below: (i) ownership of the controlling
interest in Romata Holding AG, a Swiss holding corporation having no employees
that is the sole shareholder of Recoly N.V.; (ii) ownership of the controlling
interest in Recoly, N.V., a Netherlands Antilles holding corporation having no
employees that is the sole shareholder of Opperbas Holding B.V.; (iii) ownership
of the controlling interest in Opperbas Holding B.V., a Netherlands corporation
engaged in ownership of intellectual property and related licensing and research
and development activities and a party to a funding agreement with Omri
Laboratories, Ltd. for the financing of the research activities of Omri
Laboratories, Ltd.; (iv) ownership of the controlling interest in Omri
Laboratories, Ltd., an Israeli corporation engaged in the ownership of patents
and patent applications and developing proprietary technologies and
pharmaceuticals, including encapsulation of macromolecules in liposomes,
sustained release of sensitive proteins formulated with liposomes, formulation
of factor VIII (both plasma-derived and recombinant) with liposomes to improve
the pharmacokinetics of factor VIII, gene therapy by liposome-encapsulated DNA
such as hemophilia A gene therapy as well as gene transfer into internal organs,
and induction of tolerance to liver allograft by liposome mediated gene
transfer, with plans to develop these technologies and products to a certain
stage before partnering; (v) ownership of the controlling interest of
Zilip-Pharma B.V., a subsidiary of Recoly N.V. and any employment or other
business relationship with such entity; (vi) ownership as a Passive Investment
without regard to the dollar amount thereof, of (I) an equity investment in
Genaissance Pharmaceuticals, Inc., a Delaware corporation listed on the NASDAQ
stock market engaged in product development based on pharmacogenomic technology
and which has entered into a merger agreement with Clinical Data, Inc. ("CDC")
pursuant to which it will become a wholly-owned subsidiary of CDC and (II) upon
the consummation of such merger, the securities of CDC received in such merger,
and (vii) ownership of approximately 30% of the outstanding shares, and service
on the board of directors of, Cryonic-Medical S.A., a French company engaged in
the field of cold therapy.

<PAGE>

EXHIBIT B

                                RELEASE AGREEMENT

THIS RELEASE, entered into this [___] day of [___] 2006, by Robert Taub,
residing at [_____________] (hereinafter referred to as the "Executive").

                                   WITNESSETH:

WHEREAS, the Executive and Omrix Biopharmaceuticals, Inc., a corporation
existing under the laws of Delaware and having its principal offices in
Brussels, Belgium and having registered offices in Wilmington, Delaware
(hereinafter referred to as "Omrix"), entered into an employment agreement (the
"Employment Agreement") dated as of [October 1, 2005], pursuant to Section 7i of
which the Executive agreed and covenanted, upon a termination of employment, to
execute a general release of any and all claims he may have or may believe he
has against Omrix and/or its officers, directors, employees, shareholders,
agents and representatives; and

WHEREAS, the employment of the Executive was terminated as of [___], pursuant to
Section [___] of the Employment Agreement;

NOW, THEREFORE, in consideration of the benefits to be provided to the Executive
pursuant to the Employment Agreement, it is agreed as follows:

     1. The Executive voluntarily, knowingly and willingly releases and forever
     discharges Omrix, its parents, subsidiaries and affiliates, together with
     their respective officers, directors, partners, shareholders, employees and
     agents, and each of their predecessors, successors and assigns, from any
     and all charges, complaints, claims, promises, agreements, controversies,
     causes of action and demands of any nature whatsoever which against them
     the Executive or his executors, administrators, successors or assigns ever
     had, now have or hereafter can, shall or may have by reason of any matter,
     cause or thing whatsoever arising prior to the time the Executive signs
     this agreement.

     2. The release being provided by Executive in this agreement includes, but
     is not limited to, any rights or claims relating in any way to the
     Executive's employment relationship with Omrix, or the termination thereof,
     or under any statute, including the federal Age Discrimination in
     Employment Act, Title VII of the Civil Rights Act, the Americans with
     Disabilities Act, or any other federal, state or local law or judicial
     decision.

     3. By signing this agreement, the Executive represents that he has not and
     will not in the future commence any action or proceeding arising out of the
     matters released hereby, and that he will not seek or be entitled to any
     award of legal or equitable relief in any action or proceeding that may be
     commenced on his behalf.

     4. The Executive acknowledges that Omrix has hereby advised him to consult
     with an attorney of his choosing prior to signing this agreement. The
     Executive represents that he has had the opportunity to review this
     agreement and, specifically, the release in paragraph 1, with an attorney
     of his choice. The Executive also agrees that he has entered into this
     agreement freely and voluntarily.

     5. The Executive acknowledges that he has been given at least twenty-one
     days to consider the terms of this agreement. Furthermore, once he has
     signed this

<PAGE>

     agreement, the Executive shall have seven additional days from the date of
     signing this agreement to revoke his consent hereto. The agreement will not
     become effective until seven days after the date the Executive has signed
     it, which will be the effective date of this agreement.

IN WITNESS WHEREOF, the Executive has executed this release agreement as of the
date first set forth above.

                                         ---------------------------------------
                                         Executive

                                         OMRIX PHARMACEUTICALS, INC.

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

--------------------------------------
WITNESS:

<PAGE>

EXHIBIT C

                               RELEASE AGREEMENT

     THIS RELEASE, entered into this [___] day of [_________] 2006, by Omrix
Biopharmaceuticals, Inc. a Delaware corporation having registered offices in
Wilmington, Delaware (hereinafter referred to as the "Company").

                                   WITNESSETH:

     WHEREAS, the Executive and Omrix Biopharmaceuticals, Inc., a corporation
existing under the laws of Delaware and having registered offices in Wilmington,
Delaware (hereinafter referred to as "Omrix"), entered into an employment
agreement (the "Employment Agreement") dated as of [______], pursuant to Section
7j of which the Company agreed and covenanted, upon a termination of employment,
to execute a general release of any and all claims it may have or may believe it
has against the Executive and all his successors and assigns; and

WHEREAS, the employment of the Executive was terminated as of [___], pursuant to
Section [___] of the Employment Agreement;

NOW, THEREFORE, in consideration of the benefits to be provided to the Executive
pursuant to the Employment Agreement, it is agreed as follows:

     1. The Company, its parents, subsidiaries and affiliates, together with
     their respective officers, directors, partners, shareholders, employees and
     agents, and each of their predecessors, successors and assigns,
     voluntarily, knowingly and willingly releases and forever discharges the
     Executive and all his executors, administrators, successors and assigns,
     from any and all charges, complaints, claims, promises, agreements,
     controversies, causes of action and demands of any nature whatsoever which
     against him the Company, its parents, subsidiaries and affiliates, together
     with their respective officers, directors, partners, shareholders,
     employees and agents, and each of their predecessors, successors and
     assigns ever had, now have or hereafter can, shall or may have by reason of
     any matter, cause or thing whatsoever arising prior to the time the
     Executive signs this agreement.

     2. The release being provided by the Company in this agreement includes,
     but is not limited to, any rights or claims relating in any way to the
     Executive's employment relationship with Omrix, or the termination thereof,
     or under any statute, including the federal Age Discrimination in
     Employment Act, Title VII of the Civil Rights Act, the Americans with
     Disabilities Act, or any other federal, state or local law or judicial
     decision.

     3. By signing this agreement, the Company represents that it has not and
     will not in the future commence any action or proceeding arising out of the
     matters released hereby, and that it will not seek or be entitled to any
     award of legal or equitable relief in any action or proceeding that may be
     commenced on its behalf.

IN WITNESS WHEREOF, the Company has executed this release agreement as of the
date first set forth above.

<PAGE>

                                         By:
                                             -----------------------------------
                                             Executive of Omrix
                                             Biopharmaceuticals, Inc.
                                         Title:
                                                --------------------------------

                                         OMRIX BIOPHARMACEUTICALS, INC.

                                         Executive:
                                                    ----------------------------

--------------------------------------
WITNESS:

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00100-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00100-of-00352.parquet"}]]