Document:

EX-10.3

 

Exhibit 10.3

EMPLOYMENT AGREEMENT

     This EMPLOYMENT AGREEMENT (the “Agreement”) is made as of the 21st day of March 2006 between
Sentigen Holding Corp., a Delaware corporation (the “Company”) and G. Scott Segler (the
“Employee”).

RECITALS

          WHEREAS, the Employee has been employed by the Company since September 19, 2005 formerly as
its Vice President, Finance and effective as of January 1, 2006 as its Chief Financial Officer;

          WHEREAS, the Employee desires to continue to be employed by the Company upon the terms and
conditions hereinafter set forth; and

          WHEREAS, the Company desires to continue to employ the Employee upon the terms and conditions
hereinafter set forth.

WITNESSETH:

          NOW, THEREFORE, in consideration of the mutual covenants and promises contained herein, the
parties hereto, each intending to be legally bound hereby, agree as follows:

1. Employment.

     During the Employment Term (as defined below), the Employee shall serve as the Chief Financial
Officer of the Company and its subsidiaries with the authority and responsibilities typically
associated with such position, and shall report to and perform such duties as are assigned by
Thomas J. Livelli, the Company’s Chief Executive Officer and President, and the Board of Directors
of the Company (the “Board”).

2. Performance.

     (a) The Employee shall devote his entire business efforts, time, attention, skill and energy
exclusively to the performance of his duties hereunder.

     (b) The Employee represents and covenants to the Company that he is not subject or a party to
any employment agreement, non-competition covenant, non-disclosure agreement, consulting or any
similar agreement, covenant, understanding or restriction that would prohibit the Employee from
executing this Agreement and performing his duties and responsibilities hereunder, or that would in
any manner, directly or indirectly, limit or affect the duties and responsibilities that may now or
in the future be assigned to the Employee by the Company.

     (c) The Employee shall at all times comply with policies and procedures adopted by the Company
for its employees, including without limitation the procedures and policies adopted

 

 

by the Company regarding conflicts of interest, but only to the extent such policies are not
in conflict with the express provisions of this Agreement.

3. Term.

     The employment term of this Agreement shall commence as of the date of this Agreement and
shall continue for one year thereafter (the “Employment Term”), except as provided in
Section 10 hereof.

4. Base Compensation; Bonus.

     (a) For all services rendered by the Employee hereunder, the Company shall pay the Employee
an annual salary at the rate of $175,000 for the Employment Term (the “Salary”), plus such
additional amounts, if any, as may be approved by the Board, less withholding required by law or
agreed to by the Employee, payable in installments at such times the Company customarily pays its
other senior officers (but in any event no less often than monthly). The Salary shall be reviewed
at least annually by the Board to determine if an increase (but not a decrease) is appropriate,
which increase shall be in the sole discretion of the Board. The Employee alone, and not the
Company, shall be responsible for the payment of all federal, state and local taxes in respect of
the payments to be made and benefits to be provided under this Agreement or otherwise (except to
the extent withheld or required to be withheld by the Company).

     (b) The Employee may receive bonuses on such dates, in such amounts and on such other terms
as may be determined by the Board in its sole discretion.

     (c) The Employee shall be entitled to a car allowance of $800 per month during the Employment
Term.

5. Expenses.

     The Employee shall be reimbursed for the reasonable business expenses incurred by him in
connection with his performance of services hereunder during the Employment Term to the extent that
such expenses are customarily paid to senior officers by the Company upon presentation of an
itemized account and written proof of such expenses.

6. Other Benefits.

     The Employee shall be entitled to participate in and receive any fringe benefits customarily
provided by the Company to its employees of comparable standing with the Employee (including, but
not limited to, any profit-sharing, pension, hospital, major medical insurance and group life
insurance plans as in effect from time to time in accordance with the terms of such plans), all as
determined from time to time by the Board; provided, however, that the Company has no obligation to
provide these benefits to its employees.

7. Confidential Information.

-2-

 

     (a) The Employee agrees that the Confidential Information is the Company’s exclusive property
and shall not be copied or removed from the Company’s premises except for Company business.

     (b) The Employee will not, without the Company’s prior written permission, disclose to anyone
outside of the Company or use in other than the Company’s business, either during or after the term
of his employment with the Company, any Confidential Information. If the Employee leaves the employ
of the Company, the Employee will return all copies of any Confidential Information to the Company.

     (c) The Employee will hold all third-party confidential or proprietary information in the
strictest confidence and do all things necessary for the Company to comply with the provisions of
all contracts to which the Company is a party.

     (d) For the purposes of Sections 7, 8 and 9 hereof:

          (1) “Confidential Information” shall mean confidential or other proprietary information
received, developed or learned by the Employee in connection with his employment with the Company,
including without limitation, all data, reports, interpretations, research and development,
forecasts, records, agreements, contracts and other documents (whether written or oral, and whether
prepared by or on behalf of the Company) containing or otherwise reflecting information concerning
the Company, its subsidiaries, affiliates, clients, customers, investors, joint venture and
strategic partners, including without limitation, financial information, trade secrets, proprietary
technology, strategies, studies, know-how, techniques, marketing plans and opportunities, cost and
pricing data, forecasts, inventions, customer lists, developments, improvements, discoveries,
patents, patent applications, technologies, processes, formulaes, research, methods, procedures,
designs, models, testing systems, computer software and programs (including source code and related
documentation), test and/or experimental data and results, laboratory notebooks, drawings and
technical information and materials and other confidential business information. Confidential
Information shall not include any portion of the Confidential Information which (a) is or becomes
generally available to the public other than as a result of a disclosure or any improper action or
inaction by the Employee, (b) becomes available to the Employee on a non-confidential basis from a
source other than the Company or its representatives which has represented to the Employee (and
which Employee has no reason to disbelieve after due inquiry) that it is entitled to disclose it,
or (c) was in the possession of or was known to the Employee on a non-confidential basis prior to
the disclosure thereof to the Employee by the Company or its representatives.

          (2) “Developments” shall mean any trade secret, idea, invention, improvement, patent, patent
application, novel technique, design of a useful article (whether the design is ornamental or
otherwise), computer program (including source and object code), data base, documentation and
original works of authorship.

8. Assignment of Inventions and Original Works.

     (a) The Employee hereby assigns to the Company or to any party designated by the Company the
entire right, interest and title to all Developments made, conceived or first reduced

-3-

 

to practice solely or jointly by the Employee, whether or not such Developments are
patentable, copyrightable or developed during normal working hours, which: (i) were made, conceived
or first reduced to practice in the course of performance of the Employee’s employment duties, or
with the use of the Company’s time, materials, funds or facilities; or (ii) are directly related to
information, technology or investigations of the Company to which the Employee has access as part
of work for the Company. The Employee acknowledges that all original works of authorship which are
made by the Employee within the scope of his Employment and which are protectable by copyright are
“works made for hire,” within the meaning of 17 U.S.C. § 10 1.

     (b) In connection with any of the Developments assigned by Section 8(a) hereof, the Employee
will (i) promptly disclose them to the Company and (ii) on request of the Company, promptly execute
an assignment to the Company and do anything else necessary to enable the Company to secure a
patent, copyright or other form of protection therefor. Employee waives and releases, to the extent
permitted by law, all rights to the foregoing.

9. Non-Competition.

     (a) During the Employment Term, the Employee will not, directly or indirectly, engage in any
activity competitive with or adverse to the Company’s business or welfare, whether alone or as a
principal, employee or consultant of or to any other person or entity.

     (b) Upon termination of his employment, the Employee will return all Confidential Information
and all product specifications, documentation, customer lists, and all other Company property and
will not remove or retain any product specifications, documentation, customer lists, letters,
papers or copies thereof or any other Confidential Information. All of the above-described
documents made available to the Employee by the Company or made or compiled by the Employee and all
copies thereof are and shall remain the sole and exclusive property of the Company and shall be
delivered to the Company on the termination of the Employee’s employment or at any other time upon
request of the Company.

     (c) Upon termination of his employment for any reason (other than for “good reason” or for
termination “without cause” as set forth in (d) below), the Employee will not, for a period of
twelve months after the date of termination:

          (1) unless acting pursuant hereto or with the prior written consent of the Chief Executive
Officer of the Company, directly or indirectly, own, manage, operate, join, control, finance or
participate in the ownership, management, operation, control or financing of, or be connected as an
officer, director, employee, partner, principal, agent, representative, consultant or otherwise
with or use or permit his name to be used in connection with, any business or enterprise engaged
within any portion of the United States or Canada (whether or not such business is physically
located within the United States or Canada) and any other country where the Company does business
during the Employment Term (the “Territory”) in any business whose products, services or
activities compete, directly or indirectly, in whole or in part with the products, services or
activities of the Company or its subsidiaries at the date of termination of Employee’s employment
by the Company or at any time within one year prior thereto. Without limiting the foregoing, the
current products, services and activities of the Company shall be deemed to include, without
limitation, (i) contract research and development services to the drug

-4-

 

discovery community in the areas of molecular and cellular biology, protein biochemistry,
bio-processing, high throughput screening and assay development and mouse genetics; (ii) research
products including media and reagents for culture of mouse embryos, murine embryonic stem cells and
reagents, reagents for gene transfer and expression and cell culture media; and (iii) development
of assays for the screening of G Protein-Coupled Receptors and other target classes and
pharmaceutical discovery efforts utilizing such technology;

          (2) directly or indirectly solicit or request any customer of the Company to transfer its
business from the Company to any other person or entity; or

          (3) directly or indirectly induce or attempt to influence any present or future employee of
the Company to terminate his or her employment with the Company.

     (d) In the event Employee’s employment is terminated for “good reason” or “without cause” as
defined in Section 10 herein, the provisions of Section 9(c) will remain in effect for six months
after the date of termination.

     (e) It is recognized by Employee that the business of the Company and Employee’s connection
therewith is or will be involved in activity throughout the Territory, and that more limited
geographical limitations on the covenants contained in Section 9(c) hereof are therefore not
appropriate.

     (f) In the event that any of the provisions of this Section 9 should ever be deemed to exceed
the temporal, geographic or occupational limitations established by applicable law, then such
provision shall be reformed to the maximum temporal, geographic or occupational limitations
established by applicable law.

     (g) Employee agrees that his obligations under this Section 9 shall survive and be enforceable
after termination of his employment.

10. Termination.

     The Employment Term, the Salary, and any and all other rights of the Employee under this
Agreement or otherwise as an employee of the Company will terminate (except as otherwise provided
in this Section 10):

     (a) if the Employee becomes totally disabled (as defined below), and thereafter the Company
shall have no further liability or obligation to the Employee hereunder except as follows: the
employee shall receive (i) any unpaid Salary that has accrued through the date of termination; (ii)
continued Salary for six (6) months following the date he is considered totally disabled; and (iii)
whatever benefits that he may be entitled to receive under any then existing disability benefit
plans of the Company. For the purposes hereof, the Employee shall be deemed to be “totally
disabled” if the Employee is considered totally disabled under the Company’s group disability plan
in effect at that time, if any, or in the absence of any such plan, under applicable Social
Security regulations. In the event of any dispute as to the disability of the Employee under this
Section 10(a), the Employee shall submit to a physical examination by a licensed physician mutually
satisfactory to the Company and the Employee, the cost of such

-5-

 

examination to be paid by the Company, and the determination of such physician shall be
determinative.

     (b) if the Employee dies, and thereafter the Company shall not have any further liability or
obligation to the Employee, his executors, administrators, heirs, assigns or any other person
claiming under or through him except that the Employee’s estate shall receive any unpaid Salary
that has accrued through the date of termination and any other benefits due Employee as outlined in
Section 6.

     (c) for “cause” immediately upon notice from the Company of the termination date (other than
termination provided in (d) or (e) of this Section 10) or upon receipt by the Company of notice of
termination from Employee other than “for good reason” (as defined below), and thereafter the
Company shall not have any further liability or obligation to the Employee, except that the
Employee shall receive any unpaid Salary that has accrued through the date of termination, net of
any liabilities that the Employee may have to the Company. For purposes of this Agreement, “cause”
shall mean (i) the failure of the Employee to observe or perform (other than by reason of illness,
injury or incapacity) any of the material terms or provisions of this Agreement; (ii) the
Employee’s failure to adhere to any material written policy of the Company unless such policy
conflicts with this Agreement if the Employee has been given a reasonable opportunity to comply
with such policy or cure his failure to comply; (iii) Employee’s habitual or willful neglect or
disregard of directives of the Chief Executive Officer or the Board; (iv) the appropriation (or
attempted appropriation) of a business opportunity of the Company, including attempting to secure
or securing any personal profit in connection with any transaction entered into on behalf of the
Company; (v) the misappropriation (or attempted misappropriation) of any of the Company’s funds or
property; or (vi) dishonesty, willful misconduct, neglect of the Company’s business, act of moral
turpitude which tends to reflect unfavorably on the Company, fraud, embezzlement or habitual
insobriety.

     (d) “without cause” at any time by giving the Employee 30 days’ notice of the termination
date. Under such circumstances, the Company will continue to pay to Employee, over time as he
would have been paid pursuant to this Agreement, the Salary under Section 4 for the remainder of
the Employment Term (which amount shall be paid, over time pursuant to this Agreement) and the
Company shall continue any benefits Employee is receiving at the time of such termination for such
period. The Employee shall not be entitled to any compensation under this Section 10(d) unless the
Employee executes and delivers to the Company (after notice of termination) a release in a form
reasonably satisfactory to the Company by which the Employee releases the Company from any
obligations and liabilities of any type whatsoever, except for the Company’s obligation to provide
the Salary, specified in this Section 10(d). The parties hereto acknowledge that the Salary to be
provided under this Section 10(d) is to be provided in consideration for the above-specified
release.

     (e) “for good reason” at any time with 30 days’ notice if (i) without Employee’s express
written consent, any failure by the Company to comply with any material provision of this
Agreement, which failure has not been cured within 10 business days after notice of such
non-compliance has been given by Employee to the Company; (ii) the occurrence (without Employee’s
express written consent which consent shall not be unreasonably withheld) during the Employment
Term of any change in Employee’s responsibilities which, in the judgment of a

-6-

 

reasonably prudent person, represents a materially adverse change in his responsibilities,
except if such change is because of total disability, retirement, death or for cause; (iii) the
relocation of Employee’s office to a location more than 100 miles from the location or locations at
which Employee performed his duties previously, except for required travel on the Company’s
business to the extent substantially consistent with Employee’s normal business travel obligations
and except as agreed to by the Company and Employee; or (iv) any reduction in Employee’s annual
Salary. Under such circumstances, the Employee shall be subject to the restrictions set forth in,
and shall be entitled to the compensation provided in, Section 10(d).

     (f) in the event that a Change of Control (as defined below) shall occur during the Employment
Term then, under such circumstances, the Company (or its successor) will continue pay to Employee,
the Salary under Section 4 (less applicable withholding) for a period of twelve months (commencing
after any three month period referenced below) in installments at such times as the Company (or its
successor) customarily pays its other senior officers and the Company shall continue any benefits
Employee is receiving at the time of such termination for such period; provided, that Employee
agrees to remain employed with the Company (or its successor) for a period of three months
following such Change in Control if so requested by the Company (or its successor). For purposes
hereof, a “Change of Control” shall be deemed to occur if any “person” (as such term is used in
Sections 13(d) and 14(d) of the Exchange Act of 1934 (“Exchange Act”)), other than the
Company or an affiliate of the Company, becomes the “beneficial owner” (as referred in Rule 13d-3
under the Exchange Act), directly or indirectly, of securities of the Company representing more
than 50% of the voting power of the Company’s securities in one or more transactions (including by
way of merger or reorganization), or a sale of all or substantially all of the Company’s assets.
The Employee shall not be entitled to any compensation under this Section 10(f) unless the Employee
executes and delivers to the Company a release in a form reasonably satisfactory to the Company by
which the Employee releases the Company from any obligations and liabilities of any type
whatsoever, except for the Company’s obligation to provide the Salary specified in this Section
10(f). The parties hereto acknowledge that the Salary to be provided under this Section 10(f) is to
be provided in consideration for the above-specified release.

11. Offset.

     The Company, in addition to all other rights and remedies, shall have the right to offset
against all moneys due to the Employee any sums due to the Company from the Employee under this
Agreement.

12. Remedies.

     (a) The Employee expressly acknowledges that the remedy at law for any breach of Sections 7, 8
and 9 may cause irreparable harm to the Company, that the Company’s remedies at law for his breach
of Sections 7, 8 and 9 will be inadequate, and that upon any such breach or threatened breach, the
Company shall be entitled as a matter of right to injunctive relief in any court of competent
jurisdiction, in equity or otherwise, and to enforce the specific performance of the Employee’s
obligations under these provisions without the necessity of proving the actual damage to the
Company or the inadequacy of a legal remedy. Subject to the remainder of this Section 12, the
rights conferred upon the Company by the preceding sentence shall not be

-7-

 

exclusive of, but shall be in addition to, any other rights or remedies which the Company may
have at law, in equity or otherwise.

     (b) The Employee agrees that the Company shall be entitled to preliminary and permanent
injunctive relief, without the necessity of proving actual damages, as well as an equitable
accounting of all earnings, profits and other benefits arising from any violation of Sections 7, 8
and 9 hereof, which rights shall be cumulative and in addition to any other rights or remedies to
which the Company may be entitled.

     (c) In the event of a lawsuit by either party to enforce the provisions of this Agreement,
including, but not limited to, Sections 7, 8 and 9 hereof, the prevailing party shall be entitled
to recover reasonable costs, expenses and attorney’s fees from the other party.

13. General.

     (a) The terms of this Agreement shall be governed by the laws of the State of New York,
disregarding any principles of conflicts of law that would otherwise provide for the application of
the substantive law of another jurisdiction. Each of the parties (i) agrees that any legal suit,
action or proceeding arising out of or relating to this Agreement shall be instituted exclusively
in New York State Supreme Court, County of New York, or in the United States District Court for the
Southern District of New York, (ii) waives any objection to the venue of any such suit, action or
proceeding and the right to assert that such forum is not a convenient forum, and (iii) irrevocably
consents to the jurisdiction of the New York State Supreme Court, County of New York, and the
United States District Court for the Southern District of New York in any such suit, action or
proceeding. Each of the parties further agrees to accept and acknowledge service of any and all
process which may be served in any such suit, action or proceeding in the New York State Supreme
Court, County of New York, or in the United States District Court for the Southern District of New
York and agrees that process upon it mailed by certified mail to its address shall be deemed in
every respect effective service of process upon it in any such suit, action or proceeding.

     (b) For purposes of Sections 7, 8, 9 and 12, the term “Company” shall be deemed to include any
incorporated or unincorporated subsidiaries or affiliates of the Company and any majority-owned
subsidiaries thereof, including without limitation, Cell & Molecular Technologies, Inc. and
Sentigen Biosciences, Inc.

     (c) All notices required to be given under this Agreement shall be in writing and shall be
deemed to have been given when personally delivered or when mailed by registered or certified mail,
postage prepaid, return receipt requested, or when sent by Federal Express or other overnight
delivery service, addressed as follows:

-8-

 

TO THE EMPLOYEE:

G. Scott Segler

301 East 79 Street

Apartment # 35N

New York, New York 10021

TO THE COMPANY:

Sentigen Holding Corp.

445 Marshall Street

Phillipsburg, NJ 08865

Attention: Chief Executive Officer

with a copy to:

Merrill M. Kraines

Fulbright & Jaworski L.L.P.

666 Fifth Avenue

New York, NY 10103

     (d) This Agreement supersedes all prior agreements and sets forth the entire understanding
among the parties hereto with respect to the subject matter hereof and may not be modified or
amended in any way except upon written amendment mutually agreed and executed by the Company and
Employee. Without limitation, nothing in this Agreement shall be construed as giving the Employee
any right to be retained in the employ of the Company beyond the expiration of the Employment Term.

     (e) All of the terms and provisions of this Agreement shall be binding upon and inure to the
benefit and be enforceable by the respective heirs, representatives, successors (including any
successor as a result of a merger or similar reorganization) and assigns of the parties hereto,
except that the duties and responsibilities of the Employee hereunder are of a personal nature and
shall not be assignable in whole or in part by the Employee.

     (f) Notwithstanding the termination of this Agreement and of the Employee’s employment by the
Company, by reason of the Employee’s disability under Section 10(a) hereof, or for cause under
Section 10(c) hereof, or by expiration of the Employment term, this Agreement shall continue to
bind the parties for so long as any obligations remain under the terms of this Agreement.

     (g) No waiver of any breach of this Agreement shall be construed to be a waiver as to
succeeding breaches.

     (h) If any provision of this Agreement or application thereof to anyone under any
circumstances is adjudicated to be invalid or unenforceable in any jurisdiction, such invalidity or
unenforceability shall not affect any other provisions or applications of this Agreement which

-9-

 

can be given effect without the invalid or unenforceable provision or application and shall
not invalidate or render unenforceable such provision in any other jurisdiction.

     (i) All section headings are for convenience only and shall not define or limit the provisions
of this Agreement.

     (j) This Agreement may be executed in one or more counterparts, each of which shall be deemed
an original and shall be binding as of the date first written above, and all of which shall
constitute one and the same instrument.

-10-

 

     IN WITNESS WHEREOF, the parties hereto, intending to be legally bound, have hereunto duly
executed this Employment Agreement as of the day and year first written above.

	 	 	 	 	 
	 	

SENTIGEN HOLDING CORP.

 	 
	 	By:  	/s/ Thomas J. Livelli
 	 
	 	
Name:  Thomas J. Livelli 

	 	
Title:    President and CEO 

	 
	 	 	 
	 	                                                     /s/ G. Scott Segler
 	 
	 	G. Scott Segler<PAGE>
                                                                    EXHIBIT 10.1

                              EMPLOYMENT AGREEMENT

     This Employment Agreement ("Agreement") is entered into as of the 1st day
of May, 2004, by and between MAPCO Express, Inc., a Delaware corporation
("Employer"), and Uzi Yemin, an Israeli citizen ("Employee").

                                    Recitals

     WHEREAS, Employer desires to employ Employee to render services to it for
the period and upon the terms and conditions provided for in this Agreement;
and

     WHEREAS, Employee wishes to serve in the employ of Employer for the
benefit of Employer for the period and upon the terms and conditions provided
for in this Agreement.

     NOW THEREFORE, for the reasons set forth above and in consideration of the
mutual promises and agreements set forth herein, the receipt, adequacy,
sufficiency, and value of which are hereby acknowledged by the parties, Employer
and Employee agree as follows:

     1. Employment Services, Duties, and Responsibilities. Effective as of May
1, 2004, Employer agrees to employ Employee and Employee accepts employment as
Employer's President and Chief Executive Officer. Employee agrees to perform the
services required by and have the duties and responsibilities designated by
Employer for such position, as determined by Employer from time to time, and to
devote Employee's best efforts on a full-time basis to such position. Employee's
services, duties, responsibilities, and decisions shall be subject to the
control of, review of, and change by Employer, the board of directors of Delek
US Holdings, Inc. ("Delek US"), and such other persons as Employer may designate
from time to time.

     2. Compensation and Benefits. Employer agrees to provide Employee with the
following compensation and benefits:

          a. Salary. Employer shall pay Employee, and Employee shall accept from
     Employer, salary based on a monthly rate of Twenty-One Thousand U.S.
     Dollars (US$21,000), subject to any and all deductions and withholdings
     required by law and authorized by Employee (as permitted by Employer under
     its payroll practices), and which amount shall be divided and paid through
     Employer's regular payroll procedures based on the time period worked by
     Employee.

          b. Fringe Benefits. Employer shall provide Employee with twenty-four
     (24) working days paid vacation each full year of employment, which
     vacation pay shall accrue ratably during the employment year; any accrued
     but unused vacation pay shall be paid to Employee upon the termination of
     this Agreement, and Employee may carry forward to subsequent employment
     years any accrued but unpaid vacation pay with no limit or forfeiture. With
     respect to such vacation pay, Employer agrees that Employee may use such
     vacation pay for

                                                                               1

<PAGE>

     fourteen (14) calendar days of travel to Israel each year, for such travel,
     Employer agrees to pay for the cost of round-trip airfare for Employee and
     his family and provide Employee with the use of a car in Israel. Employer
     agrees that Employee shall receive fourteen (14) calendar days paid sick
     leave each full year of employment, which sick leave pay shall accrue
     ratably during the employment year according to Employer's personnel
     policies and practices; however, any accrued but unused sick leave shall
     not be paid to Employee upon the termination of this Agreement. Employee
     will also be entitled to participate in any benefit plans, policies,
     programs, and payroll practices that Employer makes available to its
     employees consistent with the terms and conditions of the respective plans,
     policies, programs, and payroll practices applicable to such employees.
     Such benefit plans, policies, programs, and payroll practices may be
     amended or modified at any time by Employer, except as prohibited by law;
     however, any change in the cost of the benefits provided for under the
     benefit plans, policies, programs, and payroll practices must be approved
     by Delek.

          c. Ancillary Benefits. Without limiting the provisions of Section 2(b)
     of this Agreement, Employer agrees to provide Employee with the following
     ancillary benefits ("Ancillary Benefits"):

               1. Company Vehicle. Employer will provide Employee with the use
          of a company-provided vehicle and pay all expenses relating to the
          operation of the vehicle.

               2. Housing Allowance. Employer will provide Employee with a
          company-provided house, which shall have a maximum value of US$1,000
          per month.

               3. Education Expense Allowance. Employer will pay for or
          reimburse Employee for educational expenses not to exceed US$200 per
          month.

               4. Telephone. Employer will provide Employee with a home
          telephone and cellular telephone for Employee's use and pay all
          expenses relating to the use of the telephones.

     Employee understands and agrees that Employee will be responsible for any
     income, employment, or other taxes attributable to the foregoing benefits.

          d. Bonus. At the sole discretion of the Board of Directors of Delek
     US, Employee may be provided with an annual bonus comparable to similarly
     situated executives of the Delek group according to the bonus plans,
     policies, programs, and/or payroll practices of such group. Such bonus
     shall be paid on a pro-rata basis based on the number of full months worked
     by Employee during any bonus year. Employee shall not be required to be
     employed on a particular date by the Employer to receive the bonus payment.
     In the event that Employee is entitled to Bonus Payments as described in
     Section 4(b) below, then Employer

                                                                               2

<PAGE>

     will be entitled, at its sole discretion, to deduct the bonus provided
     under this Section 2(d), if provided, from the Bonus Payments.

     3. Term of Agreement and Termination.

          a. Term. The term of this Agreement shall begin on May 1, 2004, and
     end on April 30, 2009 (the "Term").

          b. Termination. Notwithstanding Section 3(a) of this Agreement, either
     party may terminate this Agreement for any reason upon three (3) full
     months' advance notice to the other party. In the event the employment
     relationship terminates at any time during the Term or at the end of the
     Term, Employee will be provided with salary continuation for a period of
     six (6) full months following the three (3)-month notice period; however,
     in the event that Employee voluntarily resigns prior to the end of the
     Term, Employee will only be entitled to salary continuation for a period of
     three (3) full months following the three (3)-month notice period. During
     any such salary continuation period, Employee will be entitled to receive
     salary continuation based on the salary set forth in Section 2(a).
     Furthermore, during such period, if Employee resides in the United States,
     Employee will be entitled to receive the fringe benefits as described in
     Section 2(b) and Ancillary Benefits as described in Section 2(c); however,
     during such period, if Employee resides in Israel, Employee will be
     entitled to receive the company-provided vehicle as described in Section
     2(c)(1) and the use of telephones described in Section 2(c)(4). Salary
     continuation paid during such period shall not be taken into consideration
     in determining any Bonus Payments and/or Bonus Shares (as defined below).

          c. Termination due to Death. This Agreement shall terminate as a
     result of the death of Employee. In such case and as of such time, Employer
     will no longer be obligated to provide any compensation or benefits to
     Employee other than any salary that has been earned by Employee through the
     date of termination, accrued or credited but unpaid vacation pay, and any
     vested benefits provided for under the terms of any applicable employee
     benefit plan, which amounts, if any, shall be paid to Employee's estate or
     otherwise as designated by Employee under the terms of any employee benefit
     plan.

     4. Additional Remuneration. Employee shall be entitled to receive one (but
not both) of the following types of additional remuneration as applicable:

          a. In the event that Delek US or any of its majority-owned subsidiary
     companies (Delek US or any such subsidiary companies being referred to
     herein as the "Issuer") are issued to the public (in a public offering) and
     are registered for sale in the United States or Israel anytime during the
     Term, shares of the Issuer (which shall be freely tradable and registered
     for trading in the public market) will be allotted to Employee for
     Employee's option to purchase according to the terms described below (the
     "Bonus Shares"):

                                                                               3

<PAGE>

               1. Option Percentage. For each year of Employee's employment
          during the Term, Employee shall accrue a 1% Option Percentage
          (pro-rated for each month during a year of employment) so that at the
          end of Term, assuming Employee remains employed through the end of the
          Term, Employee will have accrued a total 5% Option Percentage. For
          purposes hereof, "Option Percentage" is a percentage used to determine
          the number of Bonus Shares that Employee is entitled to based upon the
          total number of issued and outstanding shares of the Issuer on the
          date of the date of the execution of this Agreement (the "Pre-Public
          Offering Outstanding Shares"). For example, if a public offering of
          the Issuer occurs in November 2006, Employee will have accrued a total
          2.5% Option Percentage.

               2. Number of Bonus Shares. Employee shall have the option to
          purchase that number of Bonus Shares equal to his respective Option
          Percentage multiplied by the number of Pre-Public Offering Outstanding
          Shares. Employee must exercise his option in whole or in part on or
          before the earlier of the date that is (a) the one-year anniversary of
          Employee's termination of employment under this Agreement, or (b) the
          one-year anniversary of the Term. For example, if there are
          100,000,000 Pre-Public Offering Outstanding Shares, and Employee
          remains employed for only a three (3)-year period under this
          Agreement, then Employee shall have the option to purchase 3,000,000
          Bonus Shares as provided herein.

               3. Payment. The exercise price for each Bonus Share shall be
          determined on the basis of an assumed enterprise value of Delek US and
          its subsidiaries in the amount of US$80,000,000. For example, if there
          are 100,000,000 Pre-Public Offering Outstanding Shares, then the price
          per Bonus Share shall be US$0.80 per Bonus Share
          (US$80,000,000/US$100,000,000).

               4. Stock Splits, Stock Dividends and Similar Events. The
          number/type of Bonus Shares that Employee has the option to purchase
          and the exercise price at which such shares may be purchased shall be
          equitably adjusted in the event of a stock split, stock dividend,
          recapitalization, reclassification, or similar event by the Issuer, as
          determined in reasonable good faith by the independent auditors of
          Employer.

               5. Registered Shares. Employer represents that to the extent a
          public market exist for its shares (whether on a public stock
          exchange, national quotation system, or other), Employer will ensure
          that the Bonus Shares that Employee purchases shall be registered and
          freely tradable subject to applicable securities laws governing sales
          by officers and insiders. Employee acknowledges and agrees that he
          shall abide by applicable securities laws in connection with the
          purchase and sale of his Bonus Shares. Employer and Employee will
          cooperate in good faith with

                                                                               4

<PAGE>

          one another and the Issuer in connection with the compliance of
          requisite laws, regulations, and disclosures regarding the purchase
          and sale of Employee's Bonus Shares.

               6. Assignment. Employee shall not have the right to assign or
          encumber his option to Bonus Shares to any person or entity without
          the prior written consent of the Employer, provided that Employee
          shall have the right to pledge some or all of his Bonus Shares (and
          related option) to a lender to the extent such pledge is not in
          violation of applicable laws, including securities laws.

               7. Right of First Refusal. In the event Employee desires to sell
          all or any portion of his Bonus Shares (the "Offered Shares") to a
          third party in a bona fide sale transaction, Employee shall first
          offer the Offered Shares to Employer. Employee shall give written
          notice to Employer setting forth the terms and conditions upon which
          Employee proposes to sell the Offered Shares (the "Offer Terms").
          Employer shall have the exclusive right during the two (2)-business
          day period following receipt of such notice to elect (by delivery of
          written notice to Employee) to purchase all (and not less than all) of
          the Offered Shares in accordance with the Offer Terms and this
          paragraph. If Employer does not elect to purchase all of the Offered
          Shares, Employer's right of first refusal as to such Offered Shares
          shall terminate and Employee may sell the Offered Shares according to
          the Offer Terms or on such other terms as Employee may negotiate in
          the current transaction giving rise to the Offer Terms or in any later
          transaction. In the event Employer exercises its right of first
          refusal under this paragraph as to the Offered Shares, the closing of
          a sale of the Offered Shares to Employer shall occur within two (2)
          days following the date on which notice is given by Employer of its
          exercise of the right to purchase the Offered Shares. At the closing,
          Employee shall take such actions required to transfer the Offered
          Shares in accordance with the Offer Terms, and Employer shall deliver
          to Employee good funds by wire transfer, or a cashier's check on a
          national bank, for the entire amount of the purchase price, or upon
          the payment terms as set forth in the original Offer Terms.

               8. Option to Purchase Employee's Bonus Shares Upon Termination of
          Employment. In the event Employee's employment with Employer is
          terminated for any reason, Employer shall have the right during the
          ten (10)-day period following the effective date of Employee's
          termination of employment to purchase some or all of the Bonus Shares
          held by Employee at a purchase price equal to the fair market value of
          such Bonus Shares. Employer may exercise its option by delivering
          written notice to Employee within such ten (10)-day option period of
          its intent to purchase some or all of the Bonus Shares, which notice
          must contain the number of shares Employer will purchase and the
          purchase price for such shares. If shares of the same class as the
          Bonus Shares are

                                                                               5

<PAGE>

          traded on a securities exchange or over-the-counter market, the fair
          market value of the Bonus Shares shall be deemed to be the average of
          the closing prices of the class of shares which are Bonus Shares on
          such exchange or over-the-counter market over the ten (10) trading day
          period ending one (1) business day prior to Employee's effective
          termination date; if the shares are not traded on an exchange or
          over-the-counter market, then fair market value shall be determined in
          good faith by the Board of Directors of Delek US, provided that the
          Board shall consider in their determination the per share valuation
          (as adjusted for splits or dividends) of the most recent round of
          financing as well as any pending or proposed financings, and the per
          share valuation (as adjusted for splits or dividends) of any merger,
          sale, or liquidation transaction, whether recently completed or
          proposed. If Employer elects to exercise its option under this
          paragraph, the closing of a sale of the Bonus Shares which Employer
          has agreed to purchase pursuant to this paragraph (the "Option
          Shares") shall occur, unless mutually agreed otherwise, within ten
          (10) days following the date on which notice is given by Employer of
          its exercise of the right to purchase the Option Shares in accordance
          with this paragraph. At the closing, Employee shall take such actions
          required to transfer the Offered Shares free and clear of all liens
          and encumbrances, and Employer shall deliver to Employee good funds by
          wire transfer, or a cashier's check on a national bank, for the entire
          amount of the purchase price.

          b. In the event that no shares are issued as provided for in
     subsection (a) above by April 30, 2009, upon termination of employment at
     any time during the Term or in the event of a Change in Control at any time
     during the Term, whichever occurs first, Employee will be entitled to a
     bonus not to exceed US$3,000,000 under the following terms:

               1. Employee will be entitled to receive the following amounts for
          each year of the Agreement (the "Bonus Payments") but only if Delek US
          meets the Pre-Tax Yearly Profit Targets described in Addendum A (the
          "Targets"):

<Table>
<S>                  <C>
          Year l -   US$200,000
          Year 2 -   US$400,000
          Year 3 -   US$600,000
          Year 4 -   US$800,000
          Year 5 -   US$1,000,000
</Table>

               2. If due to unforeseen circumstances (such as payment of
          management fees from Delek US to Employer and/or other decisions that
          are made by Employer), Delek US does not meet the Targets, the
          calculation of the profit that is described in Addendum A will be
          updated based on the effect of those circumstances on the profit by
          Delek US's designated accountant whose determination (made in
          accordance with Generally Accepted Accounting Principles) shall be
          final and binding.

                                                                               6

<PAGE>

               3. If the annual growth percentage of Delek US fluctuates such
          that a Target is not met in one year but is met in a subsequent year,
          the Target will be treated as having been met (for example, if in one
          year the Target was not met by 5% but the Target in the prior year is
          exceeded by 5%, the Target will be treated as having been met in both
          years).

               4. If the Targets are not met in a certain year, Employee will be
          entitled to the relative share of the Bonus Payments in that year
          according to the profit that was reached that year beyond the minimal
          pre-tax yearly profit of US$8,000,000 (for example, if in the first
          year the profit target was US$17,000,000 and Delek US reached a
          pre-tax yearly profit of US$16,100,000, Employee will receive-instead
          of US$200,000 (scheduled Bonus Payment in the first year)-only a share
          of US$8,100,000 divided by US$9,000,000, being 90% of $200,000, namely
          $180,000).

               5. In the event that there is a change in the number of
          convenience stations owned or leased by Delek US that is not reflected
          in Addendum A, there will be an immediate update in the Targets in
          Addendum A according to the work plan approved by Delek US's board of
          directors.

          c. Notwithstanding the foregoing, in the event that Employee's
     employment terminates prior to the end of the Term, Employee will be
     entitled to Bonus Shares or Bonus Payments, as applicable, until
     termination of employment, subject to Section 3(b) of this Agreement.
     However, if Employee voluntarily terminates his employment prior to the end
     of the Term, Employee will be entitled only to 90% of such Bonus Shares or
     Bonus Payments based on the term of Employee's employment.

          d. Any applicable taxes with respect to the Bonus Shares or Bonus
     Payments will be paid by Employee, and Employer will make any deductions
     required by law with respect to such Bonus Shares or Bonus Payments.

          e. For the purposes of this Agreement, a Change in Control shall mean
     and be deemed to have taken place if (i) any person or entity, including a
     "group" as defined in Section 13(d)(3) of the Securities and Exchange Act
     of 1934, other than Employer or Delek US, a wholly-owned subsidiary
     thereof, or any employee stock ownership plan of Employer becomes, after
     the effective date of this Agreement, the actual or beneficial owner of
     Employer securities having 50% or more of the combined voting power of the
     then-outstanding securities of Employer that may be cast for the election
     of directors of Employer (other than as a result of an issuance of
     securities initiated by Employer in the ordinary course of business); (ii)
     as the result of, or in connection with, any cash tender or exchange offer,
     merger, other business combination, sale of assets, contested election, or
     any combination of the foregoing transactions less than a majority of the
     combined voting power of the then-outstanding securities of Employer, any

                                                                               7

<PAGE>

     successor corporation, or entity entitled to vote generally in the election
     of the directors of Employer after such transaction are held in the
     aggregate by the holders of Employer's securities entitled to vote
     generally in the election of directors of Employer immediately prior to
     such transaction; (iii) as a result of a sale of all or substantially all
     of the assets of Employer, (iv) during any year, individuals who at the
     beginning of any such period constitute the Board of Directors of Employer
     cease for any reason to constitute at least a majority thereof, unless the
     election, or the nomination for election by Employer's or Delek US's
     shareholders, of each director of Employer first elected during such period
     was approved by a vote of at least two-thirds of the directors of Employer
     then still in office who were directors of Employer at the beginning of any
     such period.

     5. Severance Pay. Upon termination of Employee's employment at any time
during the Term, Employee shall be entitled to severance pay of US $1,000 for
each full month of employment with Employer or it affiliates from January 2005.

     Any applicable taxes with respect to the severance pay, will be paid by the
     employee. The employer will make any deductions required by law in respect
     of severance payments.

     6. Loan. Employer agrees to provide Employee with a loan in the amount of
US$100,000 at no interest. Employee agrees to repay the loan upon termination
of employment. Employer will be entitled to deduct the full amount of the loan
from any amount Employee is owed by Employer, and Employee consents to any such
deduction.

     7. Confidentiality of the Agreement. Employee agrees to maintain the
confidentiality of the Agreement and not to disclose the terms thereof to any
party not expressly permitted to be provided such information by Employer,
except that Employee may disclose the Agreement and the terms thereof to
Employee's spouse and immediate family, accountant, or attorney, provided such
individuals agree to maintain the confidentiality of the Agreement.

     8. Miscellaneous.

          a. Entire Agreement. Employer and Employee agree that this Agreement
     contains the complete, entire agreement and understanding between the
     parties and supersedes any prior or contemporaneous written or oral
     agreements, representations, negotiations, and/or warranties between them
     respecting the subject matter hereof. Neither party has made any
     representations that are not contained herein on which either party has
     relied in entering into this Agreement. Both parties acknowledge having
     read and fully understood this Agreement and have voluntarily entered into
     this Agreement.

          b. Modification. This Agreement shall not be modified or amended,
     except by a writing duly executed by the Employee and an officer of
     Employer (other than Employee) and approved by the board of directors of
     Delek. No

                                                                               8

<PAGE>

     waiver of any provision of this Agreement shall be effective unless the
     waiver is in writing and duly executed by the Employee and an officer of
     Employer (other than Employee) and approved by the board of directors
     of Delek.

          c. Assignment. It is agreed that neither party shall have the
     right to assign or transfer any duties, rights, or obligations due
     hereunder without the written consent of the other party, except that
     Employer may assign the Agreement to its successor or any entity acquiring
     all or substantially all of the assets of Employer, subject to the
     provisions regarding Change in Control.

          d. Severability; Reformation. The provisions of this Agreement shall
     be severable and the invalidity of any provisions or portion thereof shall
     not affect the validity of the other provisions. The parties further agree
     that, to the extent a court of competent jurisdiction deems any provision
     of this Agreement unenforceable, such court shall have the power to modify
     the terms of the Agreement by adding, deleting, or changing in its
     discretion any Language necessary to make such provision enforceable to the
     maximum extent permitted by law, and the parties expressly agree to be
     bound by any such provision as reformed by the court.

          e. Waiver of Breach. No failure or neglect of either party hereto in
     any instance to exercise any right, power, or privilege hereunder or under
     law shall constitute a waiver of any other right, power, or privilege or of
     the same right, power, or privilege in any other instance. All waivers by
     either party hereto must be contained in a written instrument signed by the
     party to be charged and, in the case of Employer, by an officer of Employer
     (other than Employee).

          f. Choice of Law and Forum. This Agreement shall be governed by and
     construed in accordance with the laws of the State of Tennessee, without
     giving effect to any choice-of-law or conflict-of-law provisions or rules
     (whether of the State of Tennessee or any other jurisdiction) that would
     cause the application of the laws of any jurisdiction other than the State
     of Tennessee. This Agreement shall be construed without regard to any rule
     of construction under which an agreement may be construed against the
     drafter. Any dispute arising under this Agreement shall be adjudicated in
     the United States District Court for the Middle District of Tennessee, or,
     in the event subject matter jurisdiction does not lie therein, in the
     courts of Williamson Davidson County, Tennessee. Each party submits to the
     jurisdiction of such court, waives any defense of an inconvenient forum,
     and agrees not to file in such cause any motion to transfer venue or
     similar motion. Each party further agrees to waive any right to trial by
     jury.

          g. Notice. Any notice provided for under this Agreement shall be given
     by personal delivery, facsimile, or certified mail (with return receipt
     requested); shall be addressed to Employer at its principal place of
     business or to Employee at the most recent address on file with Employer;
     and shall be deemed

                                                                               9

<PAGE>
     to have been given upon actual receipt or, if by mail, by three (3)
     calendar days of the date on which such notice was deposited in the U.S.
     mail.

          h. Related Parties. Employer agrees that the agreements, covenants,
     representations, acknowledgements, and protections provided for under this
     Agreement in favor of Employer shall extend to the parent, subsidiaries,
     and affiliates of Employer.

          i. Construction. The headings and captions of this Agreement are
     provided for convenience only and are intended to have no effect in
     construing or interpreting this Agreement. The term "including" as used in
     this Agreement is used to list items by way of example and shall not be
     deemed to constitute a limitation of any term or provision contained
     herein. As used in this Agreement, the singular or plural number shall be
     deemed to include the other whenever the context so requires. All monetary
     amounts set forth in this Agreement shall be in United States Dollars.

          j. Rights Cumulative. The rights and remedies provided by this
     Agreement are cumulative, and the exercise of any right or remedy by either
     party hereto (or by its successor), whether pursuant to this Agreement, any
     other agreement, or law, shall not preclude or waive its right to exercise
     any or all other rights and remedies.

          k. No Inconsistent Obligations. Employee hereby represents and
     warrants to Employer that (i) the execution, delivery, and performance of
     this Agreement by Employee does not and will not conflict with, breach,
     violate, or cause a default under any contract, agreement, instrument,
     order, judgment, or decree to which Employee is a party or by which he is
     bound, (ii) Employee is not a party to or bound by an employment,
     noncompetition, nonsolicitation, nondisclosure, confidentiality, or similar
     agreement with any other person or entity that would conflict with this
     Agreement, and (iii) upon the execution and delivery of this Agreement by
     Employer, this Agreement shall be the valid and binding obligation of
     Employee and enforceable in accordance with its terms.

                                                                              10
<PAGE>

     IN WITNESS WHEREOF, the parties have caused this Agreement to be executed
and delivered on the ____ day of October, 2004, effective as of the date first
set forth above.

                                        /s/ UZI YEMIN
                                        ----------------------------------------
                                        UZI YEMIN

                                        MAPCO EXPRESS, INC.

                                        By: /s/ Tony McLarty
                                            ------------------------------------
                                        Title: VP of HR

                                        By: /s/ Asaf Bartfeld
                                            ------------------------------------
                                        Title: Director

                                        By: /s/ Gabriel Last
                                            ------------------------------------
                                        Title: Director

                                        DELEK US HOLDINGS, INC.

                                        By: /s/ Tony McLarty
                                            ------------------------------------
                                        Title: VP of HR

                                        By: /s/ Asaf Bartfeld
                                            ------------------------------------
                                        Title: Director

<PAGE>

                          ADDENDUM A - DELEK US TARGETS

<TABLE>
<CAPTION>
PRE-TAX YEARLY PROFIT TARGETS   PERIODS
-----------------------------   -----------------------
<S>                             <C>
16 million U.S. dollars         04/01/2004 - 03/31/2005
18 million U.S. dollars         04/01/2005 - 03/31/2006
20 million U.S. dollars         04/01/2006 - 03/31/2007
22 million U.S. dollars         04/01/2007 - 03/31/2008
24 million U.S. dollars         04/01/2008 - 03/31/2009
</TABLE>

                                      -12-

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"}]]