Document:

Exhibit 10.13

 

CONSULTING AGREEMENT

 

THIS AGREEMENT is made effective on the
date which is eight days after it is signed by both parties (the “Effective Date”), by and between Vyyo Ltd.,
an Israeli company (the “Company”),
having principal offices at 4 Ha’Negev St, Airport City, P.O. Box 197 Zip
70100 Ben Gurion Airport Israel, and Avner Kol (the “Consultant”).

 

WHEREAS, Consultant was
employed by Vyyo Inc., the parent corporation of the Company, as its Chief
Operating Officer from November 1, 2005 to January 30, 2008; and

 

WHEREAS, Consultant’s
employment with Vyyo Inc. has been terminated and Consultant acknowledges that
he has received from Vyyo Inc. any and all payments due to him in connection
with his employment with Vyyo Inc. or any subsidiary or termination thereof;
and

 

WHEREAS, the Company
desires to have Consultant provide certain consulting services inter-alia for
the purpose of adequately transferring his former position with Vyyo Inc., and
Consultant desires to provide such consulting services upon the following terms
and conditions; and

 

WHEREAS, the parties
wish to memorialize the terms for their agreement.

 

NOW,
THEREFORE, it is hereby agreed as follows:

 

1.        The Services.
During the Term, Consultant shall provide certain services (the “Consulting
Services”) necessary for the transfer of his former position with Vyyo Inc., to
his replacement. Consultant shall render the Consulting Services from time to
time in accordance with the Company’s reasonable needs, and the dates and
places to perform the Consulting Services shall be determined mutually by the
Consultant and the Company.

 

2.        Best Efforts. Consultant shall devote
his best efforts, abilities, expertise, experience and attention to the
performance of the Consulting Services, and the Consultant agrees that he owes
duties of care, loyalty and confidentiality to the Company in the performance
of his duties hereunder.

 

3.        Considerations.

 

3.1.       Compensation.  As full and complete consideration for the
Consulting Services to be rendered hereunder Consultant shall be entitled to an
amount of US $20,833
per month, including VAT. Such amount shall be paid in New Israeli Shekels at
the representative rate of exchange on the date prior to payment. Payment shall
be made against presentation of a tax invoice issued by Consultant to the
Company

 

3.2.       Taxes and
Social Benefits.  Consultant expressly agrees that
the Company shall not be responsible in any way for any social or other
benefits to Consultant including, without limitation, contributions or deductions
with respect to National Insurance or social security, health tax or
unemployment insurance (the “Social Benefits”)
and that any and all tax consequences or requirements to pay Social Benefits
arising out of this Agreement shall be borne by the Consultant, provided,
however, that the Company shall be entitled (but not required) to withhold any
such applicable taxes and Social Benefits if it believes that it is legally
required to do so. To the extent that any demands are made upon the Company by

 

 

 

any
authorities for payment of taxes or Social Benefits with respect to the
compensation paid under this Agreement (and which have not been deducted or
withheld by the Company), then Consultant shall fully indemnify the Company in
respect thereof upon demand by the Company.

 

4.        Term; Termination.

 

4.1.       The term of this Agreement shall
begin on July 1, 2008 hereof and shall continue for a period of six (6) months
(the “Term”).

 

4.2.       Notwithstanding the foregoing,
the Company may terminate this Agreement at any time for “Cause” (as
hereinafter defined). In such event this Agreement shall be deemed effectively
terminated as of the time of delivery of such notice and the Company shall have
no obligation to make any additional payments of Compensation hereunder.

 

For
the purpose hereof, the
term “Cause” shall mean: (i) Consultant’s
theft, dishonesty or falsification of any documents or records of the Company
or any affiliates thereof; (ii) Consultant’s improper use or disclosure of
the confidential or proprietary information of the Company; (iii) any
intentional action by Consultant which has a detrimental effect on the
reputation or business of the Company, including a breach of any covenant in
this Agreement; or (iv) any material breach by Consultant of any provision
of this Agreement, which breach is not cured within three (3) days
following notice thereof, or breach of Consultant’s duty of trust or fiduciary
duty toward the Company or its affiliates.

 

4.3.       Consultant agrees to conduct himself
in a professional and positive manner in all of his dealings, communications
and contacts concerning the Company, the conduct of his obligations hereunder
or the termination of this Agreement. Consultant agrees not to criticize,
denigrate, disparage or make any derogatory statements about the Company.  In particular, Consultant agrees not to make
any derogatory statements about the Company (including any subsidiaries or
affiliates), its business plans, policies and practices, or about any of its
officers, employees or former officers or employees, to customers, competitors,
suppliers, employees, former employees, members of the public, members of the
media or any other person, nor shall Consultant harm or in any way adversely
affect the reputation and goodwill of the Company.  Consultant also agrees not to damage any of
the Company’s property or harm the Company in any way, including financially.
Consultant agrees not to make any statement or announcement concerning he
departure from the Company except as may be reviewed and approved in writing by
the Company in advance.  Nothing in this Section 4.3
shall prevent Consultant from giving truthful testimony or information to law
enforcement entities, administrative agencies or courts or in any other legal
proceedings as required by law or otherwise by court order, including, but not
limited to, assisting in an investigation or proceeding brought by any
governmental or regulatory body or official related to alleged violations of
any law relating to fraud or any rule or regulation.  If Consultant violates this Section 4.3,
he shall pay to the Company the sum of Five Thousand Dollars ($5,000) for each
violation by him of the obligations of this Section.  Because the injury resulting from such a
violation would be impractical or extremely difficult to ascertain or estimate,
this sum is agreed upon as liquidated damages and is intended as compensation
for this injury and not as a penalty. 
The liquidated damages provided by this Section 4.3 shall be in
addition to any other available remedy, and not in lieu thereof.

 

5.        Proprietary Information; Non-Competition.

 

5.1.       Proprietary Information. 
Consultant shall
not use any Information for any purpose except in connection with the provision
of Consulting Services. Consultant shall not disclose the Information to any
other person or entity for any purpose without the prior

 

 

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written consent of the Company.  The Information shall at all times remain the
property of the Company and Consultant shall have no rights or ownership of any
kind to the Information.  For the
purposes of this Agreement “Information”
means confidential information belonging to the Company, including (without
limitation) information related to its business, computer software, programs
and hardware, designs, data, know-how, specifications, applications, materials,
trade secrets, compilations, developments, discoveries (whether patentable or
not), studies, drawings, schematics, samples, prototypes and other devices,
whether written, oral, or electronically recorded, market information, customer
lists and similar information related to the Company’s business.

 

5.2.       Non-Compete. During the term hereof and for a period of
twelve (12) months thereafter, Consultant shall not directly or indirectly,
either as an employee, employer, consultant, agent, principal, partner,
corporate officer, director, or in any other individual or representative
capacity, engage in or participate in any activities which conflict with, are
the same as, or are competitive with the activities in
which the Company or any of its affiliates is engaged.

 

5.3.       In the event that any business opportunity related to the business of the
Company shall come to Consultant’s knowledge, Consultant shall promptly notify
Company’s Board of Directors of such opportunity. Consultant shall not
appropriate for himself or for any other person other than the Company, any
such opportunity, except with the express written consent of the Board of
Directors, in advance. Consultant’s duty to notify the Company and to refrain from
appropriating all such opportunities shall neither be limited by, nor shall
such duty limit, the application of the general law of Israel relating to the
fiduciary duties of an agent or employee.

 

5.4.       All
work performed pursuant to this Agreement, and all materials and deliverables
developed, discovered or prepared by Consultant in the course of providing the
Consulting Services specifically including but not limited to software and
source code, and all derivatives of the above, as well as all marketing,
customer and similar information relating to the Company, shall be the property
of the Company, and all title and interest therein shall vest in the Company and shall
be deemed to be a work made for hire in the course of the Consulting Services
rendered hereunder.  To the extent that
title to any such works may not, by operation of law, vest in the Company, or
such works may not be considered works for hire, all rights, title and interest
therein are hereby irrevocably assigned to the Company.  All such materials shall belong exclusively
to the Company, and the Company shall have the right to obtain and to hold in
its own name all patents, copyrights, registrations, or other forms of
protection as may be appropriate to the subject matter, together with any
extensions and renewals thereof. 
Consultant agrees to provide the Company with such assistance as shall
be required to perfect or enforce the rights described in this Section 5.4.

 

6.        Independent Contractor.

 

6.1.       Consultant
is an independent contractor and not an employee of the Company and shall not
be entitled to any employee benefits, whether by contract, by
operation of applicable laws or otherwise. By executing this Agreement,
Consultant acknowledges and agrees that as a service provider to the Company,
he is not entitled to receive from the Company any Social Benefits (including
without limitation, paid vacation days, paid sick leave, severance payments,
pension funds, etc.).

 

 

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6.2.       If,
despite the parties’ express representations and agreements hereunder, it
shall, at any time, be determined by a court of competent jurisdiction or by
any other governmental authority, that employer-employee relations exist between
the Company and Consultant, and as a result of
such decision Consultant shall become entitled to any rights and/or payments
resulting from the existence of such relations, or the Company shall be
required to bear any additional expenses or costs (including any taxes or
obligatory payments to the tax authorities, the National Insurance authorities,
etc.), Consultant undertakes to indemnify Company for any such loss, cost,
payment, expense or damage caused to the Company as a result of such decision.,
and the following provisions shall apply:

 

6.2.1.        In lieu of any and all consideration
that was paid to the Consultant by the Company as of the date hereof (the “Consideration”), Consultant shall be deemed
to be entitled to a reduced consideration, which equals to 66% of the
Consideration (the “Reduced Consideration”).
Consultant’s entitlement to the Reduced Consideration shall be regarded as
gross compensation and shall apply retroactively as of the date hereof.

 

6.2.2.        Consultant shall
be under a duty to immediately refund to the Company any amount paid on account
of the Consideration by the Company as of the date hereof in excess of the
Reduced Consideration.

 

7.        Representations and Warranties. Each of
Consultant and the Company represents and warrants to the other party that
he/it is entitled to enter into this Agreement and to assume all the
obligations pursuant hereto, and that the execution and delivery of this
Agreement and the fulfillment of the terms hereof (i) will not constitute
a default under or conflict with any agreement or other instrument to which he
or it is a party or by which he/it is bound; (ii) will not result in a
breach of any confidentiality undertaking to any third party (and in performing
the Consulting Services hereunder, he shall not use any proprietary information
of any third party), (iii) do not require the consent of any person or entity, and (iv) there
are no contracts, impediments, hindrances or restrictive covenants preventing
the full performance of his or it duties and obligations hereunder, and nothing
contained in this Agreement shall require or permit Consultant or the Company
to do any act inconsistent with the requirements of any statue, regulation or rule under
any applicable law that maybe in effect from time to time.

 

8.        Remedies and Injunctive Relief. The parties
agree that in the event of any breach or threatened breach of any of the
covenants in Section 4.3, the damage or imminent damage to the value and
the goodwill of the Company’s business will be irreparable and extremely
difficult to estimate, making any remedy at law or in damages inadequate.  Accordingly, the parties agree that the
Company shall be entitled to injunctive relief against Consultant in the event
of any breach or threatened breach of any such provisions by Consultant, in
addition to any other relief (including damages) available to the Company under
this Agreement or under law.

 

9.        Miscellaneous. This Agreement constitutes the entire
understanding between the parties with respect to the matters referred to
herein. This Agreement shall be governed by the laws of the State of Israel,
excluding its conflict of law rules, and the competent courts of Tel-Aviv -
Jaffa shall have exclusive jurisdiction over the parties. This Agreement may
not be amended or modified, except by the written consent of both parties
hereto. No failure or delay on the part of any party hereto in exercising any
right, power or remedy hereunder shall operate as a waiver thereof. No waiver
of any right hereunder shall be effective for any purpose unless in writing and
signed by the Party hereto possessing said right.  No such waiver shall be construed to be a
waiver of any subsequent right, term or provision of this Agreement. Headings
to Sections herein are for the convenience of the parties only, and are

 

 

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not
intended to be or to affect the meaning or interpretation of this Agreement. In
the event that any covenant, condition or other provision contained in this
Agreement is held to be invalid, void or illegal by any court of competent
jurisdiction, the same shall be deemed severable from the remainder thereof,
and shall in no way affect, impair or invalidate any other covenant, condition
or other provision therein contained. All notices required to be delivered
under this Agreement shall be effective only if in writing and sent to the
addresses first set forth above and shall be deemed received by fax, upon
written confirmation of such receipt; by electronic communication, upon written
confirmation of such receipt; by hand delivery upon receipt; or by registered
mail, three days after deposit in the mail with written confirmation of
receipt.

 

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

 

	
  /s/ Wayne H. Davis

  	
   

  	
  /s/
  Avner Kol

  
	
   

  	
   

  	
   

  
	
  Vyyo Ltd.

  	
   

  	
  Avner Kol

  
	
   

  	
   

  	
   

  
	
  By:
  Wayne H. Davis

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
  Title:
  CEO of Vyyo Inc., parent of Vyyo Ltd.

  	
   

  	
   

  

 

 

5Exhibit 10.14

 

SEPARATION AGREEMENT AND RELEASE

 

This
Separation Agreement and Release (“Agreement”) is between VYYO LTD. (“Vyyo”) of Hanegev
4, Airport City, and Arik Levi (“Employee”).  This Agreement shall be effective as of April 8,
2008 (“Effective
Date”).

 

RECITALS

 

WHEREAS, Employee
served as an employee of Vyyo, pursuant to an Employment Agreement dated March 1,
2000 (the “Employment
Agreement”); and

 

WHEREAS, on March 1,
2008 Vyyo delivered a termination notice to Employee (the “Notice
Date”); and

 

WHEREAS, Vyyo and
Employee desire to amicably settle the termination of Employee’s employment
relationship with Vyyo; and

 

WHEREAS, even though Employee
has made no claims against Vyyo and Vyyo has made no claims against Employee, Vyyo
and Employee desire to resolve any and all claims and potential claims as
described in this Agreement.

 

ACCORDINGLY,
the parties agree as follows:

 

1.              Effective as of November 30th, 2008 (the “Termination Date”), Employee’s employment with Vyyo shall
cease, except as set forth in this Agreement. It is understood that effective
as of the Termination Date, the employer-employee relationship between the
Employee and Vyyo shall be fully and finally terminated.

 

2.              From the Notice Date and until the Termination Date, Vyyo will pay
Employee monthly base salary of NIS 65,392, plus all rights and fringe benefits
under the Employment Agreement as amended from time to time.

 

3.              Vyyo will pay
Employee Recreation Pay (“Demei Havra’ah”)
in the amount of NIS 2,647 on August 1st, 2008, and NIS 882 on the
Termination date.

 

4.              On the Termination Date, Vyyo
will:

 

4.1.     Transfer to the name of Employee the ownership of
Manager’s Insurance (“Bituach Menahalim”) policies, including his Manager’s
Insurance policy with the Migdal Insurance company. It is agreed hereby that providing
a letter instructing the insurance company to transfer the Manager’s Insurance
policies to Employee’s ownership will be deemed full satisfaction of Vyyo’s obligations
in connection with Employee’s rights to Manager’s Insurance.

 

 

4.2.     Transfer to Employee’s name, on the date required by
law, ownership in the Continuous Education Fund (“Keren Hishtalmut”) policies. It
is agreed hereby, that providing a letter instructing Bank Leumi to transfer the Continuous Education Fund to
the ownership of Employee will be deemed as full satisfaction of Vyyo’s
obligations in connection with Employee’s rights to the Continuous Education
Fund.

 

4.3.     Pay Employee an amount of NIS 105,149 constituting the remaining severance payments (Hashlamat
Pitzuii Piturin) due to the Employee in addition to the amounts accrued on his
behalf on account of the severance payment in his Manager’s Insurance Policy.
Provided however, that in the event that Vyyo prepays the remaining severance
payments (Hashlamat Pitzuii Piturin) to all of its other employees, it shall similarly
prepay such remaining severance payments to Employee.

 

4.4.     It
is agreed herein that providing a letter instructing the insurance company to
transfer the Manager’s Insurance
policy to the ownership of Employee, and attaching the relevant Form 161,
will be deemed to effect the terms stated in paragraphs 4.1 and 4.2.

 

5.              Employee hereby acknowledges and confirms that the total
number of unused vacation days that were accrued to his benefit prior to the
date hereof is 48 working days (the “Previously
Accrued Vacation”). Employee undertakes to use any and all Previously
Accrued Vacation until the Termination Date. In addition, Employee undertakes
to use any and all vacation days that will accrue from the Notice Date and until
the Termination Date (the “Remaining Vacation Days”),
prior to the Termination Date.

 

6.              No later than April 1, 2008,
Employee shall return to Vyyo the leased car found in his possession and the fuel
meter, in good and proper condition, in the same condition as obtained.  Employee is obligated to pay all fees and
parking statements pertaining to such car which are attributable to the period
that ends on the date of actual return of the car by Employee to Vyyo.

 

7.              Employee declares and confirms
that in accordance with the Option Agreement dated March 25, 2003 (Vyyo
Inc. internal option number (“Number”) 0000852) (“First Option
Agreement”) between Employee and Vyyo Inc. (“Vyyo Inc.”), Employee was granted options to acquire 10,000 shares of Common Stock of Vyyo Inc. at
an exercise price of $2.27 per share (the “First
Options”).  Employee also declares and confirms that in
accordance with the Option Agreement dated May 13, 2003 (Number 0000867) (“Second Option Agreement”) between Employee and Vyyo Inc., Employee was granted options to
acquire 30,000 shares of Common Stock of Vyyo Inc. at an exercise price of $2.90
per share (“Second Options”). 
Employee also declares and confirms that in accordance with the Option
Agreement dated August 12, 2003 (Number 0000925) (“Third Option Agreement”) between Employee and Vyyo Inc., Employee was granted options to
acquire 50,000 shares of Common Stock of Vyyo Inc. at an exercise price of $3.92
per share (“Third Options”). 
Employee also declares and confirms that in accordance with

 

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the
Option Agreement dated February 10, 2006 (Number 0001362) (“Fourths Option Agreement”) between Employee and Vyyo Inc.,
Employee was granted options to acquire 90,000 shares of Common Stock of Vyyo
Inc. at an exercise price of $5.22 per share (“Fourths Options”).  Employee also declares and confirms that in
accordance with the Option Agreement dated march 21, 2006 (Number 001208) (“Fifth Option Agreement”) between Employee and Vyyo Inc.,
Employee was granted options to acquire 20,000 shares of Common Stock of Vyyo
Inc. at an exercise price of $7.50 per share (“Fifth Options”).  Employee
also declares and confirms that in accordance with the Option Agreement dated March 21,
2006 (Number 001209) (“Sixth Option
Agreement”) between Employee and Vyyo Inc., Employee was granted options to
acquire 20,000 shares of Common Stock of Vyyo Inc. at an exercise price of $9.00
per share (“Sixth Options”).  Employee also declares and confirms that in
accordance with the Option Agreement dated March 21, 2006 (“Seventh Option Agreement”) between Employee and Vyyo Inc.,
Employee was granted options to acquire 20,000 shares of Common Stock of Vyyo
Inc. at an exercise price of $10.50 per share (“Seventh Options”).  Employee also declares and confirms that in
accordance with the Option Agreement dated November 9, 2006 (Number
001443) (“Eighth Option Agreement”) between Employee and Vyyo Inc.,
Employee was granted options to acquire 24,000 shares of Common Stock of Vyyo
Inc. at an exercise price of $3.35 per share (“Eighth Options”).

 

Employee declares and affirms
that as of the Termination Date, options to acquire 10,000 shares of the
aggregate number of options underlying the First Options, options to acquire 30,000
shares of the aggregate number of options underlying the Second Options,
options to acquire 50,000 shares of the aggregate number of options underlying
the Third Options, options to acquire 67,750 shares of the aggregate number of
options underlying the Fourth Options, options to acquire 0 shares of the
aggregate number of options underlying the Fifth Options, options to acquire 0
shares of the aggregate number of options underlying the Sixth Options, options
to acquire 0 shares of the aggregate number of options underlying the Seventh
Options, and options to acquire 24,000 shares of the aggregate number of
options underlying the Eighth Options shall vest (hereinafter, the aggregate number
of 177,750 vested options under the First Options, Second Options, Third
Options, Fourth Options, Fifth Options, Sixth Options, Seventh Options and Eights
Option options will be collectively referred to as “Vested
Options”).  All remaining options that have not vested as
of the Termination Date, whether granted pursuant to the First Options, Second
Options, Third Options, Fourth Options, Fifth Options, Sixth Options, Seventh
Options or Eights Options, including 20,000 options granted on November 6,
2001 which were previously cancelled (i.e., 106,250 options), will be
automatically cancelled on the Termination Date and Employee will have no right
thereunder.

 

3

 

The Vested
Options (and solely the Vested Options) may be exercised until March 31,
2009.  The Vested Options, or any part thereof,
which were not exercised will be automatically cancelled as of April 1,
2009, and Employee will not have any right to obtain shares thereby.

 

Employee declares
and confirms that, other than his rights in the Vested Options as stated above,
he has no rights of any type to purchase or receive any securities of Vyyo Inc.,
or of any company affiliated with it (including, without limitation, Vyyo Ltd.,
Xtend Networks Ltd. or any subsidiary or an affiliate of any of the foregoing
companies), whatever their source, including rights in options that were not
vested as of the Termination Date, and he will have no claim for such rights.

 

The
provisions of Vyyo Inc.’s Fourth Amended and Restated 2000 Employee and Consultant
Equity Incentive Plan, and the terms and conditions of the First Option
Agreement and the Second Option Agreement between Vyyo Inc. and Employee will continue
to apply in accordance with their terms, mutatis
mutandis.

 

8.              Employee does hereby declare, confirm
and undertake that upon receipt of the funds detailed above, Vyyo, Vyyo Inc.
and any subsidiary thereof, have fulfilled all of their obligations to him in
connection with his employment and termination thereof, including salary and all
payments, including, without limitation, any and all payments, if applicable,
for the advance notice period, payment in redemption of annual vacation or
holiday allowance, recreation pay, severance pay, health insurance, expense
reimbursement, overtime pay, sick pay, bonuses, that are or shall be due to Employee
in connection with his employment with Vyyo or the termination thereof.  Subject to the provisions of Section 16
below, Employee hereby releases and forever discharges Vyyo, and its parent
company, subsidiaries, partners, investors, predecessors, successors, heirs,
assigns, employees, former employees, shareholders, officers, directors,
agents, attorneys, insurance carriers, subsidiaries, divisions or affiliated
corporations or organizations, whether previously or hereinafter affiliated in
any manner, including without limitation any other entity associated with Vyyo Inc.
(the “Released Party”) from any and all claims, rights, demands,
actions, obligations, liabilities, and causes of action of every kind and
character, known or unknown, mature or unmatured, which Employee may now have
or has ever had against the Released Party, whether based on tort, contract
(express or implied), or any applicable law (collectively, the “Released Claims”) EXCEPT ONLY for its/his
right under this Agreement and any claims or rights which may arise under that
certain indemnification and exculpation agreement dated May 10, 2007
between the Employee and Vyyo Inc.  The Released
Claims shall also include, but not be limited to, claims for severance pay,
bonuses, stock options, shares, sick leave, vacation pay, life or health
insurance, or any other fringe benefit.

 

9.              For the avoidance of doubt, Employee
hereby affirms that this document constitutes a compromise and notification of
dismissal with respect to severance compensation within the meaning of section
29 of the Severance Compensation Law - 1963.

 

4

 

10.        All tax consequences arising from the
payment of funds to the Employee, from the issuance of Shares under Employee
Name and from exercising all rights under this Agreement shall be borne solely
by the Employee. The Employee shall indemnify the Company and hold it harmless against and from any and
all liability for any such tax or interest or penalty thereon, including,
without limitation, liabilities relating to the necessity to withhold or to
have withheld any such tax. The Employee hereby authorizes the Company to
withhold the issuance of any Shares to the Employee pending the payment of all
such tax liabilities by the Employee, at the Company’s discretion.

 

11.        Employee agrees hereby to transfer
his position with Vyyo in a complete and orderly fashion, to make himself
available to Vyyo in a reasonable manner, to fulfill the duties instructed by Vyyo
and to assist Vyyo to the best of his ability in anything connected to
transferring his position or completing his employment.

 

12.        Without derogating from the provisions of Section 5
above, it is hereby acknowledged that Employee
shall not be required to perform services for the Company following the Notice Date   and may provide services to third parties, as
an employee or consultant (each, an “Additional
Engagement”), provided however,
that such Additional Engagements shall be subject to the provisions contained
in Section 10 above and subject to Employee’s
obligations of confidentiality and non-competition.

 

13.        Employee agrees to return to Vyyo,
no later than the Effective Date, all documents, materials, tools and every
other equipment that he used during his employment, all programs or plans in his
possession, in any media whatsoever, and which was obtained in connection with his
employment, where the foregoing is in as good condition as received, however,
the Employee may keep the laptop that is currently in his possession.  Employee further waives and foregoes any
claim for delay of return of any of such equipment.  Without derogating from the generality of the
foregoing, Employee will return to Vyyo all information, in any manner
whatsoever, and all computations received or prepared in connection with his
employment, and which were in the possession of Vyyo, or in any other place,
and Employee agrees that he has not and will not make any copy of any such item
whatsoever.

 

14.        Notwithstanding the foregoing, on September 1,
2008, Vyyo will return to the Employee, his cellular telephone number and the
actual cellular device to his own ownership, in accordance with the agreement
with the cellular company and subject to his signature on the forms of transfer
required by such cellular company.  All
financial obligations for the use of any of such equipment until August 31,
2008 (including tax obligations and all reasonable costs for the use of such cellular
device, which must be consistent with Employee’s past practice and with Vyyo’s
applicable policies) will be borne solely by Vyyo.

 

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15.        Employee undertakes not to cause
other employees of Vyyo to leave Vyyo and not to solicit the employment of
any of the employees of Vyyo with his new place of employment.

 

Employee
further undertakes not to directly or indirectly solicit from the clients of
the Released Party any business directly or indirectly in competition with the
Released Party, or that involves activities in which any entity comprising the
Released Party was engaged or had already planned to be engaged while Employee
provided services to Vyyo.

 

16.        Unless otherwise expressly stated herein,
this Agreement cancels all agreements, contracts or other documents between Employee
and Vyyo, whether written or oral, excluding Employee’s obligations of
confidentiality and non-competition with regard to Vyyo’s intellectual property
  (including
the confidentiality and non-competition undertakings pursuant to the Employment
Agreement and the confidentiality agreement signed between the Employee and
Vyyo, which is attached hereto as Appendix A), which shall remain in
full force and effect. Notwithstanding the foregoing, the Company shall procure
that the directors and officers insurance policy of Vyyo Inc. in effect on the
Effective Date shall continue to be in full force and effect as necessary to
cover the liabilities of the Employee in connection with his service to the
Company or to Vyyo inc. prior to the Termination
Date.

 

17.        The parties to this Agreement
agree and confirm that it is known to them that a primary condition to Vyyo’s
and Employee’s obligations is that each of its terms, and the negotiations
surrounding it, are confidential and shall not be disclosed by them or anyone
on their behalf, directly or indirectly, to any third party whatsoever,
including employees and consultants of Vyyo or its past employees and
consultants. Employee confirms that he knows that if he breaches his confidentiality
obligations, Vyyo will be free from its obligations under this Agreement.

 

18.        Employee acknowledges
that (a) he has had the opportunity to consult with whomever he desires in
regard to this Agreement; (b) he has read and understands the Agreement
and is fully aware of its legal effect; and (c) he is entering into this
Agreement freely and voluntarily, and based on he own judgment and not on any
representations or promises made by Vyyo, other than those contained in this
Agreement.

 

 

	
  DATED:  April 8, 2008

  	
   

  	
  DATED: April 8, 2008

  

 

 

	
  /s/ Wayne H. Davis

  	
   

  	
  /s/ Arik Levi

  
	
   

  	
   

  	
   

  
	
  Vyyo Ltd.

  	
   

  	
  Arik Levi

  
	
   

  	
   

  	
   

  
	
  By:   Wayne
  H. Davis, CEO of Vyyo Inc.,

  	
   

  	
   

  
	
  Parent
  of Vyyo Ltd.

  	
   

  	
   

  

 

6

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