Document:

Exhibit 10.26

 

Summary of Oral Loan Agreements

 

between Karan A. Chanana and Amira Pure Foods Private Limited

 

During fiscal 2010, Karan A. Chanana agreed to lend Amira Pure Foods Private Limited an aggregate of approximately $2,496,374.  Such amount was unsecured, non-interest bearing, and had no fixed terms of repayment.Online Disruptive Technologies, Inc.: Exhibit 10.1 - Filed by newsfilecorp.com

EMPLOYMENT AGREEMENT

THIS AGREEMENT dated for reference as of the 1st day of
September, 2012 between ONLINE DISRUPTIVE TECHNOLOGIES, INC., a
corporation with offices at 3120 S. Durango Drive, Ste. 305 Las Vegas, NV
89117-4454 USA (the “Company”), and GIORA DAVIDOVITS, an
individual having an address of 16 Carter Lane, Andover, MA 01810 (the
“Executive”).

The Company is engaged in the business of developing a system
to early detect cancerous cells in the body. The Company has offered to employ
the Executive on the following terms and conditions and in consideration of
those promises and the sum of Fifty ($50.00) Dollars, the Executive agrees to
the following terms and conditions of employment.

	1. 	
      EMPLOYMENT, TERM, POSITION AND
  DUTIES

	 	 	 
	1.1 	
      Position. Effective September 1, 2012 (the
      “Start Date”), the Executive will serve as the Chief Executive
      Officer (“CEO”) and President of the Company and in such other
      related capacity as the Company may from time to time reasonably require.
      Executive shall also continue in the capacity as a member of the Company’s
      board of directors.

	 	 	 
	1.2 	
      Term. The Executive’s employment with the Company
      will commence on the Start Date and will end on August 31, 2017 (the
      “Term”) unless terminated sooner pursuant to Article 5 of this
      Agreement.

	 	 	 
	1.3 	
      Duties. The Executive will perform such duties as
      are regularly and customarily performed by the CEO and President of a
      company, including but not limited to, being accountable and responsible
      for:

	 	 	 
		(a) 	
      the Company’s overall financial, strategic, regulatory
      and operational matters;

	 	 	 
		(b) 	
      preparing and executing long term and yearly business
      plans and budgets, corporate strategies, and policies and programs for
      approval by the Board;

	 	 	 
		(c) 	
      hiring and firing key executives and ensuring that the
      Company has a succession plan;

	 	 	 
		(d) 	
      providing leadership with regard to the Company’s
      operations including compliance with Company policies and laws;
  and

	 	 	 
		(e) 	
      performing such other duties that are consistent with the
      Executive’s position and which the Board shall, from time to time,
      reasonably direct.

	 	 	 
	1.4 	
      Reporting. The Executive will report to and take
      directions from the Board of Directors (the “Board”) or such other
      person as the Board may designate.

	 	 	 
	1.5 	
      Time and Efforts. During the Executive’s
      employment with the Company, the Executive
will:

	 	(a) 	
      diligently, honestly and faithfully serve the Company and
      use his commercially reasonable efforts to promote and advance the
      interests of the Company;

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	 	(b) 	
      devote significant time and effort and attention to the
      business and affairs of the Company, its affiliates and
    subsidiaries;

	 	 	 
	 	(c) 	
      perform his duties in accordance with applicable laws and
      in accordance with the Company’s policies and procedures as established
      and updated by the Company from time to time; and

	 	 	 
	 	(d) 	
      not be engaged, employed or associated with any other
      business venture without the written consent of the
  Board.

	1.6 	
      Fiduciary Obligations. The Executive acknowledges
      that as the CEO and President of the Company, he is an officer and
      fiduciary of the Company and occupies a position of trust and confidence
      and that he will develop and acquire wide experience and knowledge on all
      aspects of the Company’s business. The Executive agrees to serve the
      Company in a manner which is consistent with the fiduciary duties owed to
      the Company. Without limiting the generality of the foregoing, the
      Executive will observe the highest standards of loyalty, good faith, and
      avoidance of conflicts of duty and self-interest, and will not assume any
      fiduciary obligations to any other entity without the approval of the
      Company, which approval is deemed given in connection with Executive’s
      work for Achieving Better Control, Inc. Notwithstanding the foregoing and
      provided that the same shall not otherwise constitute a breach of
      Executive’s obligations or covenants hereunder or impair or materially
      interfere with the performance of Executive’s responsibilities hereunder,
      Executive shall be free to engage in other civic, political and social
      activities, perform speaking engagements, and manage his personal passive
      investments, provided that such activities do not materially interfere
      with his obligations to the Company, and are not rendered for a company
      which transacts business with the Company or engages in business
      competitive with that conducted by the Company.

	 	 
	2. 	
      COMPENSATION & BENEFITS

	 	 
	2.1 	
      Base Salary. The Company will pay the Executive a
      salary of $250,000 per annum, payable in equal bi-weekly payments (the
      “Base Salary”). The Base Salary will be reviewed annually by the
      Board.

	 	 
	2.2 	
      Stock Options. Executive will receive on the date
      hereof:

	 	(a) 	
      a grant of Three Million Seven Hundred and Fifty Thousand
      (3,750,000) options to purchase common stock in the Company at an exercise
      price of $0.01 per share (the “Options”). The Options vest
      immediately and will be exercisable for ten (10) years in accordance with
      the terms of the Company’s Stock Option Agreement (which agreement will be
      provided to the Executive by the Company within ten (10) days of the date
      of this Agreement); and

	 	 	 
	 	(b) 	
      to grant future stock options at the discretion of the
      Board at the prevailing market price, in accordance with compensation
      policies determined by the Board for directors, employees and executives.
      The vesting and exercise of such options will be governed by the Company’s
      Stock Option Plan.

- 3 -

	2.3 	
      Bonus. The Executive will be eligible to
      participate in the Company’s bonus plan in accordance with the terms of
      such plan when adopted by the Board. The amount of any such bonus
      shall be based on the achievement of performance goals established with
      the mutual consent of the Company and Executive.

	 	 
	2.4 	
      Contributions to 401K Plan. The Company agrees to
      match, up to a maximum of $17,500 per annum, any annual contributions that
      the Executive may make to a 401K or similar plan created by the
      Executive.

	 	 
	2.5 	
      Vacation. The Executive will be entitled to four
      (4) weeks paid vacation each calendar year to be taken at such time or
      times as the Executive may select and as the Board may reasonably approve
      having regard to the business affairs and operations of the
  Company.

	 	 
	2.6 	
      Employee Benefits. Subject to meeting any
      eligibility requirements, the Executive will be entitled to group extended
      health and dental, life and long-term disability insurance, pension and
      other benefits which the Company may offer from time to time to its senior
      executive team (the “Employee
Benefits”).

	 	(a) 	
      Employee Benefits are provided in accordance with formal
      plan documents or policies and any issues with respect to entitlement or
      payment of benefits under any of the Employee Benefits will be governed by
      the terms of the documents or policies establishing the benefits in
      issue.

	 	 	 
	 	(b) 	
      The Company reserves the right to unilaterally revise the
      terms of the Employee Benefits or to eliminate any Employee Benefits
      altogether, each on no less than ninety (90) days’ written notice to
      Executive. The Executive agrees that any changes to the Employee Benefits
      will not affect or change any other part of this Agreement.

	 	 	 
	 	(c) 	
      If the Company does not offer health or dental insurance
      for any reason, it will reimburse the Executive for his reasonable costs
      of health and dental insurance, which insurance has terms similar to other
      that available to executives of similar corporations in the United
      States.

	2.7 	
      Expenses. The Company will reimburse the Executive
      on a monthly basis, for expenses reasonably and properly incurred by him
      in the performance of his duties and responsibilities under this
      Agreement, which expenses will be verified in writing by the Executive.
      Such expenses will include, but not be limited to, travel, cell phone,
      laptop, etc. Air travel by Executive for Company purposes shall be coach
      class for flights within the United States, and business class for
      transcontinental flights.

	 	 
	3. 	
      CONFIDENTIAL INFORMATION AND INTELLECTUAL
      PROPERTY

	 	 
	3.1 	
      Confidential
Information.

	 	(a) 	
      The Executive hereby acknowledges that as an employee of
      the Company, the Executive will acquire information, whether or not
      originated by the Executive, about certain matters which are confidential
      or proprietary to the Company. These matters include but are not limited to, books of
      business, ideas, techniques, processes, know-how, trade and business
      secrets, data, computer software, lists of names and addresses of present
      and prospective customers and clients, details, including terms, of verbal
      and written contracts between the Company and its customers and clients,
      lists of suppliers, marketing and business plans, forecasts, personnel and
      financial information, internal pricing and cost information, services and
      operational manuals, future plans and strategies of the Company that have
      been or are being discussed and confidential information belonging to
      third parties which the Company has an obligation to hold in confidence
  (collectively the “Confidential Information”).

- 4 -

	 	(b) 	
      The Executive hereby acknowledges and agrees that all
      Confidential Information is the exclusive property of the Company. The
      Executive further acknowledges that the Confidential Information could be
      used to the detriment of the Company and that disclosure of the
      Confidential Information could cause irreparable harm to the Company.
      Accordingly, the Executive agrees to treat confidentially all of the
      Confidential Information and not to disclose it to any third party or to
      use it for any purpose either during the Executive’s employment (except as
      may be necessary in the proper discharge of the Executive’s duties), or
      after termination of employment (whether such termination is occasioned by
      the Executive, by the Company with or without cause or by mutual
      agreement), except with the written permission of the Company.

	 	 	 
	 	(c) 	
      All notes, data, tapes, compact discs, reference items,
      sketches, drawings, memoranda, records, diskettes and other materials,
      whether in hard copy or on electronic media, in any way relating to any of
      the Confidential Information, produced by the Executive or coming into the
      Executive’s possession by or through the Executive’s employment, will
      belong exclusively to the Company. The Executive agrees to turn over to
      the Company all copies of any such materials in the Executive’s possession
      or control, immediately at the request of the Company or, in the absence
      of a request, on the termination of the Executive’s employment with the
      Company.

	3.2 	
      Intellectual Property.

	 	 	 	 
		(a) 	
      For the purpose of this section Developments means
      all discoveries, inventions, designs, works of authorship, improvements
      and ideas (whether or not patentable or copyrightable) and legally
      recognized proprietary rights (including, but not limited to, patents,
      copyrights, trademarks, topographies, know-how and trade secrets), and all
      records and copies of records relating to the foregoing, that:

	 	 	 	 
			(i) 	
      result or derive from the Executive’s employment or from
      the Executive’s knowledge or use of Confidential Information;

	 	 	 	 
			(ii) 	
      are conceived or made by the Executive (individually or
      in collaboration with others) during the term of the Executive’s
      employment by the Company;

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	 		(iii) 	
      result from or derive from the use or application of the
      resources of the Company; or

	 	 	 	 
	 		(iv) 	
      relate to the business operations of the Company or to
      actual or demonstrably anticipated research and development by the
      Company.

	 	 	 	 
	 	(b) 	
      The Executive agrees that all Developments will be the
      exclusive property of the Company and that the Company will have sole
      discretion to deal with Developments. The Executive agrees that no
      intellectual property rights in the Developments are or will be retained
      by the Executive. For greater certainty, all work done during the term of
      the Executive’s employment for the Company is the sole property of the
      Company, as the first author for copyright purposes and in respect of
      which all copyright will vest in the Company.

	 	 	 	 
	 	(c) 	
      In consideration of the compensation and Employee
      Benefits the Executive receives under the terms of this Agreement, the
      Executive irrevocably sells, assigns and transfers and agrees in the
      future to sell, assign and transfer all right, title and interest in and
      to the Developments and intellectual property rights therein, including,
      without limitation, all patents, copyright, industrial design, circuit
      topography and trademarks, and any goodwill associated therewith in the
      United States and worldwide to the Company and the Executive will hold all
      the benefits of the rights, title and interest mentioned above in trust
      for the Company prior to the assignment to the Company.

	 	 	 	 
	 	(d) 	
      The Executive agrees to do all further things that may be
      reasonably necessary or desirable in order to give full effect to the
      foregoing. If the Executive’s cooperation is required in order for the
      Company to obtain or enforce legal protection of the Developments
      following the termination of employment, the Executive will provide that
      cooperation so long as the Company pays the Executive reasonable
      compensation for the Executive’s time at a rate to be agreed between the
      Executive and the Company.

	4. 	
      NON-COMPETITION AND
  NON-SOLICITATION

	 	 
	4.1 	
      Non-Competition. While the Executive is employed
      by the Company and for a period of twelve (12) months immediately
      following the termination of the Executive’s employment for any reason,
      the Executive covenants and agrees not to become engaged, directly or
      indirectly, as an employee, consultant, partner, principal, agent or
      advisor in a business anywhere in the United States that competes directly
      with the Company, without the Company’s written consent.

	 	 
	4.2 	
      Non-Solicitation. While the Executive is employed
      by the Company and for a period of twenty four (24) months immediately
      following the termination of the Executive’s employment for any reason,
      the Executive covenants and agrees not to directly or indirectly contact
      or solicit any Client or Customer of the Company for the sole purpose of
      terminating their relationship with the Company. For the purpose of this
      section, “Client or Customer” includes anyone whom the Executive dealt
      directly with as an actual or potential client or customer of the
      Company.

- 6 -

	4.3 	
      Non-Solicitation of Employees. While employed by
      the Company and for a period of twenty four (24) months immediately
      following the termination of employment for any reason, the Executive
      covenants and agrees not to directly or indirectly solicit, or induce, or
      attempt to induce, any persons who were employees of the Company at the
      time of the Executive’s termination or during a period of 90 days
      immediately preceding such termination, to terminate their employment with
      the Company.

	 	 	 
	5. 	
      TERMINATION

	 	 	 
	5.1 	
      Resignation. Nothing in this Agreement prohibits
      the Executive from resigning at any time prior to the end of the Term,
      provided the Executive gives the Company at least 60 days’ prior written
      notice. The Company may waive such notice in whole or in part at its sole
      discretion and if the Company waives all or part of the notice of
      resignation given by the Executive prior to the expiry of the notice
      period, the Company will pay to the Executive an amount equal to the Base
      Salary for the balance of the notice period. If the Executive resigns, he
      will not be entitled to any payment in respect of severance, nor will he
      be entitled to any bonus payments in respect of the year in which the
      resignation takes effect; provided, however, he will retain all
      unexercised vested Options.

	 	 	 
	5.2 	
      Company’s Right to Terminate for Just Cause.
      Notwithstanding any other provision in this agreement, the Company may
      terminate the employment of the Executive at any time for Just
    Cause.

	 	 	 
	5.3 	
      Termination Without Just Cause or Change of
      Control. The Company may terminate the Executive’s employment at any
      time without Just Cause by providing the Executive with ninety (90) days
      prior written notice. In the event the Company terminates the Executive’s
      employment without Just Cause or in the event of a Change of Control (as
      defined in Section (d) below), the Company agrees to:

	 	 	 
		(a) 	
      continue to pay the Executive his Base Salary for a
      period of two (2) years from the date the Executive’s employment is
      terminated or the Change of Control occurs (the “Relevant Period”);
      and

	 	 	 
		(b) 	
      continue to provide, for the duration of the Relevant
      Period, such Employee Benefits as may be permitted by and in accordance
      with the formal plan which governs each of the Employee
Benefits.

	 	 	 
	5.4 	
      Termination by Executive for Cause. If: (i) there
      is a significant reduction in Executive’s authority, duties or
      responsibilities; (ii) Executive’s Base Salary is reduced; (iii) the
      Company fails to pay Executive’s salary, benefits, incentive awards or
      other monetary payments when due; (iv) Executive is required to undertake
      business travel substantially greater than previous business travel
      obligations; or (v) Executive’s position and duties with the Company are
      relocated by the Company to a location greater than 50 miles from Andover,
      Massachusetts, without Executive’s consent; then, in any such event,
      Executive may elect to terminate his employment with the Company and
      receive the benefits set forth above in Section 5.3(a) and
  5.3(b).

	 	 	 
	5.5 	
      Definitions. Where used herein and anywhere in
      this Agreement:

- 7 -

	 	(c) 	
      “Just Cause” means:

	 	 	 	 
	 		(i) 	
      the Executive’s wilful failure to properly discharge his
      lawful duties, or any material breach or non-observance by the Executive
      of any material provision of this Agreement;

	 	 	 	 
	 		(ii) 	
      the Executive’s conviction for any crime respecting the
      property of the Company, or the Executive’s personal honesty, or the
      formal charge of the Executive of a securities violation by a regulatory
      authority having jurisdiction over the Company; or

	 	 	 	 
	 		(iii) 	
      the Executive’s breach of his fiduciary duties owed to
      the Company as an officer or director provided it has a material adverse
      effect on the Company.

	 	 	 	 
	 	(d) 	
      “Change of Control” means an event occurring after
      the effective date of this Agreement pursuant to which:

	 	 	 	 
	 		(i) 	
      a merger, amalgamation, arrangement, consolidation,
      reorganization, business combination or transfer takes place in which more
      than 50% of the total combined voting power of the Company’s outstanding
      voting securities are acquired by a person or persons different from the
      person holding those voting securities immediately prior to such event,
      and the composition of the Board of Directors of the Company following
      such event is such that the directors of the Company prior to the
      transaction constitute less than 50% of the Board membership following the
      event; provided that no transaction conducted by the Company primarily for
      financing purposes of its operations shall be included in a “Change of
      Control”;

	 	 	 	 
	 		(ii) 	
      any person, or any combination of persons acting jointly
      or in concert by virtue of an agreement, arrangement, commitment or
      understanding acquires, directly or indirectly, 50% or more of the voting
      rights attached to all outstanding voting securities;

	 	 	 	 
	 		(iii) 	
      any person, or any combination of persons acting jointly
      or in concert by virtue of an agreement, arrangement or commitment or
      understanding acquires, directly or indirectly, the right to appoint a
      majority of the directors of the Company; or

	 	 	 	 
	 		(iv) 	
      the Company sells, transfers or otherwise disposes of all
      or substantially all of its assets, except that no Change of Control will
      be deemed to occur if such sale or disposition is made to a subsidiary or
      subsidiaries of the Company.

	5.4 	
      Deemed resignation as Director. Unless otherwise
      agreed to by the Company, the Executive will be deemed to have resigned
      from all offices and directorships for the Company and its affiliates effective on the last date of
  the Executive’s employment with the Company.

- 8 -

	6. 	
      GENERAL

	 	 
	6.1 	
      Insurance. The Company will obtain third party
      liability insurance for the Executive (including directors and officers
      liability insurance) insuring the Executive for any claims arising from
      the negligent acts or omissions of the Executive or the Company during the
      period the Executive was employed by the Company.

	 	 
	6.2 	
      Obligations Continue. The Executive’s obligations
      under Articles 3 and 4 will remain in full force and effect
      notwithstanding termination of this Agreement for any reason.

	 	 
	6.3 	
      Amendment. No provision in this Agreement may be
      amended unless such amendment is agreed to in writing and signed by the
      Executive and an authorized officer of the Company.

	 	 
	6.4 	
      Compliance with Policies and Laws. The Executive
      agrees to abide by all the Company’s policies and procedures, including
      without limitation, the Company’s code of conduct. The Executive also
      agrees to abide by all laws applicable to the Company, in each
      jurisdiction that the Company does business.

	 	 
	6.5 	
      Governing Law and Venue. This Agreement shall be
      construed and interpreted in accordance with the laws of the State of
      Massachusetts and each of the parties hereby irrevocably attorns to the
      jurisdiction of the courts of Massachusetts with respect to any disputes
      arising out of this Agreement.

	 	 
	6.6 	
      Notices. Any notice given or required to be given
      under this Agreement will be in writing and signed by or on behalf of the
      party giving it. Such notice may be served personally and in either case
      may be sent by priority post to the addresses of the parties noted on page
      one of this Agreement, or by fax, email or other electronic transmission.
      Any notice served personally will be deemed served immediately, and if
      mailed by priority post will be deemed served seventy two (72) hours after
      the time of posting, and if by electronic transmission, upon successful
      transmission.

	 	 
	6.7 	
      Severability. If any provision contained herein is
      determined to be void or unenforceable for any reason, in whole or in
      part, it will not be deemed to affect or impair the validity of any other
      provision contained herein and the remaining provisions will remain in
      full force and effect to the fullest extent permissible by law.

	 	 
	6.8 	
      Enurement. This Agreement will enure to the
      benefit of and be binding upon the parties hereto and their respective
      heirs, executors, administrators, successors, personal representatives and
      permitted assigns.

	 	 
	6.9 	
      Assignment of Rights. The Company will have the
      right to assign this Agreement to another party. The Executive shall not
      assign the Executive’s rights under this Agreement or delegate to others
      any of the Executive’s functions and duties under this
  Agreement, without the prior express written consent of the Company,
  which consent may be withheld at the Company’s sole discretion.

- 9 -

	6.10 	
      Entire Agreement. This Agreement contains the
      entire understanding and agreement between the parties concerning the
      subject matter hereof and supersedes all prior agreements, understandings,
      discussions, negotiations and undertakings, whether written or oral,
      between the parties with respect thereto.

	 	 
	6.11 	
      Currency. Unless otherwise specified herein all
      references to dollar or dollars are references to United States
      dollars.

	 	 
	6.12 	
      Further Assurances. Each of the Executive and the
      Company will do, execute and deliver, or will cause to be done, executed
      and delivered, all such further acts, documents and things as required for
      the purposes of giving effect to this Agreement.

	 	 
	6.13 	
      Counterparts/Facsimile Execution. This Agreement
      may be executed in several parts in the same form and such parts as so
      executed will together constitute one original document, and such parts,
      if more than one, will be read together and construed as if all the
      signing parties had executed one copy of the said Agreement.

	 	 
	6.14 	
      Headings. The headings contained herein are for
      reference purposes only and will not in any way affect the construction or
      interpretation of this Agreement.

	 	 
	6.15 	
      Legal Advice. The Executive acknowledges and
      agrees that the Executive has had the opportunity to seek, and has not
      been prevented or discouraged by the Company from seeking, independent
      legal advice prior to the execution and delivery of this Agreement by the
      Executive.

- 10 -

INTENDING TO BE LEGALLY BOUND, the parties hereunto have
signed this agreement as of the 1st day of September, 2012.

ONLINE DISRUPTIVE TECHNOLOGIES, INC.

Per: /s/ Benjamin
Cherniak
       Authorized
Signatory

	SIGNED by GIORA DAVIDOVITS in the 	) 	  
	presence of: 	) 	  
	  	) 	  
	/s/ Rebecca
      Sload 	) 	  
	Signature 	) 	  
	Rebecca Sload 	) 	/s/
      Giora Davidovits 
	Print Name 	) 	GIORA DAVIDOVITS 
	16 Carter Ln 	) 	  
	Address 	) 	  
	Andover, MA 01810
    	) 	  
	  	) 	  
	Archaeologist 	) 	  
	Occupation 	)

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