Document:

EXHIBIT 4.8

                               EMPLOYMENT CONTRACT

EMPLOYMENT CONTRACT, dated as of NOVEMBER 29, 2004, between ACS-Tech80 Ltd.
("ACS" or the "COMPANY"), a State of Israel corporation with offices at Hamada
Ave., Migdal Ha'amek, Israel 10500, and Ze'ev Kirshenboim, residing at 54 Oranim
Street, Kiryat Tivon, Israel 36043 ("EMPLOYEE").

WHEREAS, Employee is the Company's controlling shareholder and has been acting
as its CEO and President for many years, whether directly or as an employee of a
management company owned by him; and

WHEREAS , the Company desires to engage Employee to be directly engaged by it as
its CEO, President and CFO, as well as for any present or future subsidiary, or
affiliate of the Company, and any successor or assign thereof; and

WHEREAS, Employee has agreed to be directly engaged by Company and to perform
such services in accordance with the terms of this Agreement as specified
hereunder.

NOW THEREFORE, the parties hereto stipulate and agree on the terms and
conditions hereinafter set forth:

1.   TERM

     The Company agrees to employ Employee, and Employee agrees to be employed
     by the Company and perform services in accordance with the terms and
     conditions of this Agreement, for a period commencing on January 1, 2005
     (the "EFFECTIVE DATE")and ending on December 31, 2009, or such shorter
     period as may be provided for herein (hereinafter, the "EMPLOYMENT
     PERIOD"). The Employee is entitled to terminate the employment agreement
     during the Employment Period by providing six months advance notice to the
     Company. Company may not terminate this Agreement other than under the
     circumstances expressly set forth herein.

     Following the end of the Employment Period, this agreement shall continue
     in effect, so long as neither party has given six months advance notice to
     the other party of its wish to terminate the agreement.

2.   DUTIES AND SERVICES

     During the Employment Period, Employee shall be the President, Chief
     Executive Officer and Chief Financial Officer of the Company, the President
     and Chairman of the Board of its wholly owned subsidiary in the USA,
     ACS-Tech 80 Inc.. In performing his duties, Employee shall be subject to
     the direction of the Board of Directors of the Company, subject to
     provisions of the law and subject to the provisions of the Company's or the
     applicable Subsidiary's governing documents, as applicable. Employee agrees
     to his employment as described in this Section 2 and agrees to devote the
     necessary time and efforts, faithfully and loyally to the performance of
     his duties under this Agreement. It is clarified, that Employee shall not
     be precluded from engaging in other business or activities, so long as he
     continues to fulfill his duties hereunder.

     Employee undertakes to immediately inform the Company of any issue or
     matter related to the Company or any Subsidiary, in which he may have a
     personal interest and/or which might cause a conflict of interest between
     Employee and the Company or any Subsidiary.

                                   Page 1 of 6
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3.   OTHER AGREEMENTS

Upon the effective date of this Agreement, it shall be deemed to terminate and
replace all other arrangements regarding Employee's services, whether directly
or by company's owned by Employee, to the Company and any Subsidiary which are
similar to the services detailed herein, and except as set forth herein or as
otherwise agreed prior to the Effective Date between the Company and Employee or
company's owned by Employee, Employee shall not be entitled, as of the Effective
Date, to any further compensation for the services covered by this Agreement.

4.   COMPENSATION

     4.1  As compensation for his services as the President and Chief Executive
          Officer of the Company hereunder, the Company shall pay Employee,
          during the Employment Period, a gross annual salary of $248,750 ("LTD
          SALARY"), payable on a monthly basis in equal installments. In
          addition to the Ltd Salary, Employee shall be entitled to payments and
          benefits as set forth herein below on account of the Ltd Salary.

     4.2  As compensation for his services as the President and Chairman of the
          Board of ACS-Tech80, Inc., ACS-Tech 80 Ltd. shall pay Employee, during
          the Employment Period, a gross annual salary of $127,000 ("INC
          SALARY"), in addition to Ltd Salary. The Inc Salary shall be payable
          on a monthly basis in equal installments.

          It is hereby clarified that the INC SALARY includes all benefits and
          compensation and that Employee shall not be entitled to any additional
          benefits as a result of the INC SALARY.

     4.3  Thus, the total gross annual salary will be $375,750 ("TOTAL SALARY").
          Nothing contained herein shall preclude Employee from participating in
          the present or future employee benefit plans of the Company and its
          subsidiaries if he meets the eligibility requirements therefore.

     4.4  Once every year, beginning on January 1, 2006, the Total Salary and
          all related benefits shall be increased by 5% after adjustment to the
          CPI.

     4.5  Once every year, beginning on the year 2006, the Employee shall be
          given a bonus not to exceed 7.5% of the previous year's consolidated
          income before tax, in cash, options and/or shares, at a rate and in
          such manner as shall be determined by the Board of Directors (the
          "BONUS"). The Bonus shall be calculated within 30 days of the approval
          of the Company's audited financial statements for the preceding year.
          The value of such Bonus will be based upon the success of the Company,
          the attainment of the Company's goals, and the Employee's
          contributions to the Company.

     4.6  The Company shall allocate to a well-known advanced education fund,
          the sum of 7.5% of the Ltd salary, on a monthly basis, together with a
          deduction of 2.5% of Employee's net pay in connection with the Ltd
          Salary for such period. Employee may draw such 7.5% as an additional
          salary, rather than allocate it to such advanced education fund, so
          long as the cost to the Company does not exceed the amounts that would
          have been allocated to the advanced education fund.

     4.7  The Total Salary shall be paid before the 10th day of each calendar
          month for the current month.

     4.8  Employee is entitled to an annual recreation pay of $25,000. Employee
          shall be entitled, instead of such recreation pay, to draw such amount
          as additional salary.

                                   Page 2 of 6
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5.   EXPENSES AND LEAVE

     5.1  Employee shall be entitled to reimbursement during each year of the
          Employment Period (including any extended period of this Agreement)
          for reasonable travel and other out-of-pocket expenses incurred in the
          performance of his duties hereunder, including expenses relating to
          use of a cellular phone, telephone, computer, Internet and electronic
          mail at his home and during travels abroad. The Company shall
          additionally make available to Employee an appropriate automobile, of
          class 6 vehicle category, for the purpose of fulfilling his duties
          hereunder or any other duties as designated by the Board of Directors,
          and for his personal use, and the Company shall pay all costs and
          taxes associated therewith. Employee may instead, at its sole
          discretion, draw the amount equal to the total cost to the Company of
          such automobile and related expenses as an additional salary, so long
          as the cost to the Company does not exceed its projected cost had it
          provided Employee with the automobile.

     5.2  Employee shall be entitled to annual leave of 30 working days for
          every year of employment with the Company. Leave days may be
          accumulated or redeemed without limitation.

6.   REPRESENTATIONS AND WARRANTIES OF EMPLOYEE

     Employee represents and warrants to the Company that:

     6.1  Employee is under no contractual or other restriction or obligation
          which is inconsistent with the execution of this Agreement, the
          performance of his duties hereunder, or the other rights of the
          Company hereunder; and

     6.2  Employee is under no physical or mental disability that would hinder
          his performance of duties under this Agreement.

7.   NON-COMPETITION.

     Employee undertakes not to compete with the Company during the entire
     Agreement Period, and the two years after the termination of his employment
     by the Company.

8.   PATENTS, ETC.

     Any interest in patents, patent applications, inventions, copyrights,
     developments, and processes ("SUCH INVENTIONS") which Employee now or
     hereafter during the period he is employed by the Company under this
     Agreement or otherwise may own or develop relating to the fields in which
     the Company may then be engaged shall belong to the Company; and forthwith
     upon request of the Company, Employee shall execute all such assignments
     and other documents and take all such other action as the Company may
     reasonably request in order to vest in the Company all his right, title,
     and interest in and to Such Inventions free and clear of all liens,
     charges, and encumbrances.

                                  Page 3 of 6
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9.   CONFIDENTIAL INFORMATION

     All confidential information which Employee may now possess, may obtain
     during or after the Employment Period, or may create prior to the end of
     the period he is employed by the Company under this Agreement or otherwise,
     relating to the business of the Company or a Subsidiary or of any customer
     or supplier of any of them, shall not be published, disclosed, or made
     accessible by him to any other person, firm, or corporation either during
     or after the termination of his employment or used by him, any other
     person, firm, or corporation either during or after the termination of his
     employment, in each case without the prior written permission of the
     Company, except during the Employment Period in connection with the
     business of the Company or any Subsidiary or for the purpose of furthering
     their interests. Employee shall return all tangible evidence of such
     confidential information to the Company prior to or upon the termination of
     his employment.

10.  LIFE INSURANCE

     If requested by the Company, Employee shall submit to such physical
     examinations and otherwise take such actions and execute and deliver such
     documents as may be reasonably necessary to enable the Company, at its
     expense and for its own benefit, to obtain life insurance on the life of
     Employee. Employee has no reason to believe that his life is not insurable
     with a reputable insurance company at rates now prevailing for healthy men
     of his age.

11.  INSURANCE AND PENSION

     During the period of this Agreement, the Company shall allocate an
     equivalent of 6% of the Employee's LTD SALARY to providence fund, plus 2.5%
     of Ltd Salary as insurance against loss of working ability. The 2.5%
     insurance pay will be updated from time to time according to the actual
     cost of such insurance. Employee shall additionally contribute up to 6% of
     his LTD SALARY to the providence fund. Employee may draw Company's
     participation in his providence fund as an additional salary, rather than
     allocate it to the providence fund, as long as the cost to the Company does
     not exceed the amounts that would have been allocated to the providence
     fund.

     In addition, during the period of this Agreement, the Company shall
     allocate to an insurance company acceptable to Employee 8.33% of Employee's
     LTD SALARY for the purpose of insuring the payment of severance pay.

     The actual severance pay to which Employee shall be entitled shall be equal
     to the then monthly LTD SALARY multiplied by the number of years of
     employment as of the Effective Date.

     Upon termination of the Employee's employment under this agreement, for any
     reason whatsoever, and subject to this Agreement, the employee and his
     heirs or estate shall be entitled to all sums allocated by the Employee and
     the Company pursuant to this Section 11.

12.  TERMINATION

     12.1. Termination of this Agreement by the Company requires the approval of
          the Board of Directors.

     12.2. Notwithstanding anything herein contained, if, prior to the end of
          the Employment Period,

          Either

          12.2.1. Employee is unable fully to discharge his duties hereunder for
               a continued period of twelve months, other than as described in
               Section 12.2.2,

                                  Page 4 of 6
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          12.2.2. Employee shall be convicted (by a final judgement) of a crime
               of a moral turpitude, then, and in each such case, the Company
               shall have the right to give notice of termination of Employee's
               services hereunder as of a date (not earlier than 30 days from
               such notice) to be specified in such notice, and this Agreement
               shall terminate on the date so specified,

          or

          Employee shall die or become physically or mentally incapacitated, by
          reason of which he is unable to continue to fulfill all of his
          obligations hereunder, then this Agreement shall immediately terminate
          on the date of such death or incapacity, except as otherwise provided
          herein.

          12.3 Since the Company is highly dependent on the experience and
               know-how of Employee and in order to minimize the damages that
               the Parties acknowledge will likely be caused to the Company in
               Employee's absence, Employee hereby undertakes to provide
               technical support and management consulting services to the
               Company and its Subsidiaries upon their request, for a period of
               two years after the date of termination of this Agreement, for
               any reason whatsoever. Employee undertakes to reasonably make
               himself available to the Company during such two-year period for
               the purpose of such support and consulting services. During such
               two-year period, Employee shall receive a monthly salary, in US
               dollars equal to his last monthly Total Salary in US dollars
               prior to the termination of the Agreement, and all other benefits
               and payments to which Employee was entitled hereunder. Such
               amounts shall be payable to Employee for its undertaking to
               provide such services following the termination hereof and shall
               be due to him whether or not the Company requests such services
               of him and regardless of the extent such services are actually
               provided by him. During such two-year period Employee shall
               continue to be bound by the Non-Competition and Confidentiality
               clause contained herein.

               Such payment during the two-year period following the termination
               hereof shall not in any way diminish Employee's entitlements
               hereunder during the term hereof or upon termination hereof (such
               as severance pay or redemption of unutilized vacation), and shall
               not be deemed as payment in lieu of any other amounts due to him
               under this Agreement.

13.  SURVIVAL

     The covenants, agreements, representations, and warranties contained in or
     made pursuant to this Agreement shall survive Employee's termination of
     employment, irrespective of any investigation made by or on behalf of any
     party.

14.  MODIFICATION

     This Agreement may be modified only by a written instrument duly executed
     by each party.

15.  NOTICES

     Any notice or other communication required or permitted to be given
     hereunder shall be in writing and shall be mailed by certified mail, return
     receipt requested or by the most nearly comparable method of mailing, or
     delivered against receipt to the party to whom it is to be given at the
     address of such party set forth in the preamble to this Agreement (or to
     such other address as the party shall have furnished in writing in
     accordance with the provisions of this Section 15). Notice to the estate of
     Employee shall be sufficient if addressed to Employee as provided in this
     Section 15. Any notice or other communication given by certified mail (or
     such comparable method) shall be deemed given at the time of certification
     thereof (or comparable act), except for a notice changing a party's address
     which shall be deemed given at the time of receipt thereof.

                                  Page 5 of 6
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16.  WAIVER

     Any waiver by either party of a breach of any provision of this Agreement
     shall not operate as or be construed to be a waiver of any other breach of
     such provision or of any breach of any other provision of this Agreement.
     The failure of a party to insist upon strict adherence to any term of this
     Agreement on one or more occasions shall not be considered a waiver or
     deprive that party of the right thereafter to insist upon strict adherence
     to that term or any other term of this Agreement. Any waiver must be in
     writing.

17.  BINDING EFFECT

     Employee's rights and obligations under this Agreement shall not be
     transferable by assignment or otherwise, such rights shall not be subject
     to commutation, encumbrance, or the claims of Employee's creditors, and any
     attempt to do any of the foregoing shall be void. The provisions of this
     Agreement shall be binding upon and inure to the benefit of Employee and
     his heirs and personal representatives, and shall be binding upon and inure
     to the benefit of the Company and its successors and those who are its
     assigns under Section 11.

18.  NO THIRD PARTY BENEFICIARIES

     This Agreement does not create, and shall not be construed as creating, any
     rights enforceable by any person not a party to this Agreement (except as
     provided in Section 17 above).

19.  HEADINGS

     The headings in this Agreement are solely for the convenience of reference
     and shall be given no effect in the construction or interpretation of this
     Agreement.

20.  COUNTERPARTS; GOVERNING LAW

     This Agreement may be executed in any number of counterparts, each of which
     shall be deemed an original, but all of which together shall constitute one
     and the same instrument. It shall be governed by and construed in
     accordance with the laws of the State of Israel, except for section 4.2
     without giving effect to conflict of laws.

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

                                                      ACS-Tech80 Ltd.

                                                      BY: /S/ Eli Dayan
                                                      -----------------
                                                      Name: Eli Dayan
                                                      Title: Director

                                                      BY: /S/ Ze'ev Kirshenboim
                                                      -------------------------
                                                      Ze'ev Kirshenboim

                                   Page 6 of 6Letter Agreement

 Exhibit 10.1 
  
 

 
  

			
	 	 	33 Technology Drive
	 	 	P.O. Box 4920
	 	 	Warren, NJ 07059
	 	 	T: 908-791-2300

  
 Byron Hewitt, 
 President and COO 
 Immunicon Corporation 
 3401 Masons Mill Road, Suite 100 
 Huntingdon Valley, PA 19006-3574

  
 Subject: Development, License and Supply Agreement between Immunicon
Corporation and Ortho-Clinical Diagnostics, Inc. dated August 17, 2000. 
  
 Dear
Ed: 
  
 We propose further modifying the subject Agreement by adding the
following provisions relating solely to the sales of Automated Cell Analysis Systems and related equipment in Japan. All other terms and conditions of the Agreement shall remain the same. Please indicate your acceptance by signing in the appropriate
space below 
  
 6.4.1(k) Sales Agency in Japan.

  
 i. Veridex’s Affiliate, OCD KK shall be Immunicon’s
sales agent in Japan. 
  
 ii. Immunicon will export Automated
Cell Analysis Systems and related equipment for sale in Japan to a warehouse in Japan as designated by OCD KK; Immunicon shall retain title to all such items up to and during their retention in such warehousing and shall bear all risk of loss or
damage. 
  
 iii. Immunicon shall retain title to all Automated
Cell Analysis Systems and related equipment placed with (but not sold to) Third Parties for those Systems and related equipment designated for future sales with such Third Parties as evidenced by written agreement between such Third Parties and
Immunicon, OCD KK or Veridex. For the avoidance of doubt, an agreement between such parties in which such Systems and equipment are placed for trial use and identifying the procedure for the purchase of such Systems and equipment shall satisfy such
evidentiary requirement. . 

 iv. OCD K.K. will notify Immunicon of the name and address of each customer and selling price of each
Automated Cell Analysis System and related equipment sold to such customers. 
  
 v. Customer purchase orders will reference Immunicon (c/o OCD K.K.) as the Vendor. 
  
 OCD KK will invoice each customer, using Japanese yen as the currency, on behalf of Immunicon; and OCD KK will receive the proceeds from
each customer in Japanese yen. Included in the invoice will be any amounts the customer has agreed to pay for freight, shipping and/or insurance. Any such costs that the customer has not agreed to pay shall be paid by Immunicon. 
  

	 	vi.	OCD KK will remit the proceeds from the collection of payments from each customer to Immunicon in United States dollars within 15 days of receipt using T.T.S (telegraphic transfer
sold) rate quoted by The Bank of Tokyo Mitsubishi. 

  
 vii. OCD KK will invoice Immunicon for inland transportation charges. Additionally, Immunicon shall pay OCD KK a sales commission according to Schedule 1. All payments under this Section 6.4.1(k) shall be made by Immunicon in United States
dollars.  
  
 viii. Immunicon shall assume all credit risk
associated with the sale of the instrument. Where extending credit to a customer for such a sale is considered, OCD K.K. will have a credit check conducted on the potential customer and will, to the extent practicable, necessary and permitted by
applicable law, provide Immunicon with the results of such credit check; and Immunicon will make the final determination as to whether to extend such credit to the customer. 
  
 ix. Customers will pay a consumption tax as required in Japan (currently 5%) which shall be passed from OCD K.K. to
Immunicon for payment to appropriate Japanese authorities; further, OCD K.K. shall pay an import tax as required in Japan (currently 5%) which shall be paid to appropriate Japanese authorities directly by OCD K.K. 
  
 x. Immunicon will file a tax return for the consumption tax referred to in
(ix) above . 
  
 xi. Immunicon will appoint a Third Party tax
agent in Japan as required under Japanese law. 
  
 xii. After two
years from the effective date, both parties will meet to reassess the service provision. 

			
	Veridex, LLC
		
	By:	 	 /s/ MARK MYSLINSKI

	 	 	Mark Myslinski, General Manager

  

			
	ACCEPTED AND AGREED
	
	IMMUNICON CORPORATION
		
	By:	 	 /s/ BYRON HEWETT

	Name:	 	Byron Hewett
	Title:	 	President and COO
	Date:	 	June 14, 2005

 Schedule 1 – Veridex Commission Structure 
  
 Commission Structure per System. System includes CellTracks Autoprep System and CellSpotter
Analyzer 
  

									
	 Selling Price Per System

	  	Discount
%

	  	Veridex
Commission

	 	 	Max Veridex Commision
Per System (M$)

	 $119,000-113,050
	  	0-5	  	15	%	 	$	17,850
	 $113,049-107,100
	  	6-10	  	10	%	 	$	11,305
	       <$107,100
	  	Agreement with Immunicon        

  
 Commission Structure per System.
System includes CellTracks Autoprep System and CellTracks II Analyzer 
  

									
	 Selling Price Per System

	  	Discount
%

	  	Veridex
Commission

	 	 	Max Veridex Commision
Per System (M$)

	 $150,000-142,500
	  	0-5	  	15	%	 	$	22,500
	 $142,449-135,000
	  	6-10	  	10	%	 	$	14,245
	       <$135,000
	  	Agreement with Immunicon

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