Document:

Exhibit
      10.7

    

    SECOND
      AMENDMENT TO EMPLOYMENT AGREEMENT

     

    This
      Second Amendment to Employment Agreement (this “Amendment”)
      is
      made as of this 29th
      day of
      February, 2008 by and between MODIGENE INC., a Nevada corporation (“Employer”),
      and
      SHAI NOVIK (“Executive”),
      and
      amends that certain Employment Agreement, dated December 14, 2005, between
      Modigene Inc., a Delaware corporation (“Modigene
      DE”),
      and
      Executive, as amended by that certain First Amendment to Employment Agreement,
      dated July __, 2006 between Modigene DE and Executive (the “First
      Amendment”)
      (as
      amended, restated, supplemented or modified from time to time, including
      pursuant to the First Amendment, the “2005
      Agreement”).
      

     

    RECITALS:

     

    A. On
      May
      10, 2007, Modigene DE assigned to Employer, and Employer assumed, all
      obligations of Modigene DE under the 2005 Agreement and Employer thereby became
      the “Employer” under the 2005 Agreement.

     

    B. The
      parties desire to modify certain provisions of the 2005 Agreement concerning
      the
      termination of Executive’s employment and Executive’s compensation.

     

    C. Pursuant
      to Section 7(b) of the 2005 Agreement, the parties desire to enter into this
      Amendment. 

     

    NOW,
      THEREFORE, in consideration of the mutual covenants herein contained and other
      good and valuable consideration, the receipt and sufficiency of which are hereby
      acknowledged, the parties hereto agree to the following amendments to the 2005
      Agreement:

     

    AGREEMENT:

     

    1. Amendment
      to Section 3(a).
      The
      first two sentences of Section 3(a) of the 2005 Agreement (as amended by the
      First Amendment) are hereby deleted and replaced with the following
      sentence:

     

    “Executive
      shall receive an aggregate annual minimum base salary at the rate of Two Hundred
      and Fifty Thousand Dollars ($250,000) payable in equal monthly installments
      of
      $20,833.33 or otherwise in accordance with the regular payroll schedule of
      Employer (as the same may be increased, “Base
      Salary”),
      effective January 1, 2008.”

     

    2. Amendment
      to Section 3(b).
      The
      first sentence of Section 3(b) of the 2005 Agreement is hereby deleted and
      replaced with the following sentence:

     

    Executive
      shall be eligible to receive an annual cash bonus of up to $85,000, payable
      within 30 days after the end of the fiscal year of Employer, which shall be
      based upon performance criteria established by the Board (“Performance
      Bonus”).

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    3. Amendment
      to Section 3.
      An
      additional Section 3(k) is hereby added to Section 3 as follows:

     

    (k)
      Car.
      Employee
      shall be entitled to use a Company car (Mazda 6 or a car of equivalent class,
      as
      shall be determined by the Employer) pursuant to the terms and conditions of
      the
      Employer’s car policy as shall be adopted by Employer and may be amended by
      Employer from time to time (the “Car
      Policy”).
      Employer shall gross up Employee’s Base Salary with any tax liability incurred
      with respect to the car’s “value equivalent” (the value of the car usage) for
      tax purposes as updated from time to time. Subject
      to applicable law, in the event that Employee fail to timely pay any fines,
      penalties, costs or other obligations in respect of the car (excluding any
      costs
      and payments which are borne by Employer pursuant to the terms of the Car
      Policy), Employer shall be entitled to pay such fines, penalties, costs or
      other
      obligations and to deduct such costs from Employee’s Base Salary. Employee shall
      be eligible to use his personal car instead of a Company Car, and elect to
      receive monthly cash payment in lieu of such Company Car, as long as the total
      cost to Employer shall be the same as if such Company Car is provided to the
      Executive by the Employer.

     

    4. Revised
      Notification under Israeli Law.
      In the
      event that the Base Salary is increased pursuant to Section 3 of the 2005
      Agreement, Employer agrees to deliver to Employee, and both parties agree to
      sign, a revised Notification to Employee of Employment Conditions (in the form
      attached to the 2005 Agreement), reflecting such increase.

     

    5. Effectiveness.
      The
      amendments to the 2005 Agreement contemplated by this Amendment shall be deemed
      effective immediately upon the full execution of this Amendment, without any
      further action required by the parties hereto. 

     

    6. The
      Agreement.
      All
      references in the 2005 Agreement to the term “Agreement” shall be deemed to
      refer to the 2005 Agreement referenced in, and as amended by, the First
      Amendment and as further amended by this Amendment.

     

    7. Amendment
      and 2005 Agreement to be Read Together.
      This
      Amendment amends and is part of the 2005 Agreement, and the 2005 Agreement
      and
      this Amendment shall henceforth be read together and shall constitute the
      Agreement. Except as otherwise set forth herein, the 2005 Agreement shall remain
      in full force and effect.

     

    8. Headings.
      Headings used in this Amendment are for convenience only and shall not affect
      the construction or interpretation of the 2005 Agreement or this
      Amendment.

     

    9. Counterparts.
      This
      Amendment may be executed by facsimile and in one or more counterparts, each
      of
      which shall be deemed an original, and all of which together shall constitute
      one and the same instrument.

     

    [The
      Remainder of this Page is Intentionally Left Blank]

     

    
      
        
        

      

      
        2

        
          

        

      

      
        
        

      

    

     

    IN
      WITNESS WHEREOF, the undersigned have executed this Amendment as of the day
      and
      year first written above.

     

    
      
        	
                EMPLOYER:

              	
                EXECUTIVE:

              
	 	 
	
                MODIGENE
                  INC.

              	 
	 	 
	 	 
	
                By:

              	 	 	 
	 	
                Name:

              	 	 	
                Shai
                  Novik

              
	 	
                Title:

              	 	 	 
	 	 
	 	
                Notice
                  Address:

              
	 	 
	 	 
	 	 
	 	 

      

    

     

    
      
        
        

      

      
        S-1Exhibit
      10.9

    

    FIRST
      AMENDMENT TO EMPLOYMENT AGREEMENT

     

    This
      First Amendment to Employment Agreement (this “Amendment”)
      is
      made as of this 29th
      day of
      February, 2008 by and between MODIGENETECH LTD., an Israeli corporation
      (“Employer”),
      and
      EYAL FIMA (“Executive”),
      and
      amends that certain Employment Agreement, dated November 16, 2005, between
      Employer and Executive (as amended, restated, supplemented or modified from
      time
      to time, the “2005
      Agreement”).
      

     

    RECITALS:

     

    A. The
      parties desire to modify certain provisions of the 2005 Agreement concerning
      the
      Executive’s compensation.

     

    B. Pursuant
      to Section 8(b) of the 2005 Agreement, the parties desire to enter into this
      Amendment. 

     

    NOW,
      THEREFORE, in consideration of the mutual covenants herein contained and other
      good and valuable consideration, the receipt and sufficiency of which are hereby
      acknowledged, the parties hereto agree to the following amendments to the 2005
      Agreement:

     

    AGREEMENT:

     

    1. Amendment
      to Section 3(a).
      The
      first sentence of Section 3(a) of the 2005 Agreement is hereby deleted and
      replaced with the following sentence:

     

    “Executive
      shall receive an aggregate annual minimum base salary at the rate of
One
      Hundred
      Thousand Dollars ($100,000) payable in equal monthly installments of $8,833.33
      or otherwise in accordance with the regular payroll schedule of Employer (as
      the
      same may be increased, “Base
      Salary”),
      effective January 1, 2008.”

     

    2. Amendment
      to Section 3(b).
      The
      first sentence of Section 3(b) of the 2005 Agreement is hereby deleted and
      replaced with the following sentence:

     

    “Executive
      shall be eligible to receive an annual cash bonus of up to $50,000, payable
      within 30 days after the end of the fiscal year of Employer, which shall be
      based upon performance criteria established by the Board (“Performance
      Bonus”).

     

    3. Revised
      Notification under Israeli Law.
      In the
      event that the Base Salary is increased pursuant to Section 3 of the 2005
      Agreement, Employer agrees to deliver to Employee, and both parties agree to
      sign, a revised Notification to Employee of Employment Conditions (in the form
      attached to the 2005 Agreement), reflecting such increase.

    4. Effectiveness.
      The
      amendments to the 2005 Agreement contemplated by this Amendment shall be deemed
      effective immediately upon the full execution of this Amendment, without any
      further action required by the parties hereto. 

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

    5. The
      Agreement.
      All
      references in the 2005 Agreement to the term “Agreement” shall be deemed to
      refer to the 2005 Agreement referenced in, and as amended by, this
      Amendment.

     

    6. Amendment
      and 2005 Agreement to be Read Together.
      This
      Amendment amends and is part of the 2005 Agreement, and the 2005 Agreement
      and
      this Amendment shall henceforth be read together and shall constitute the
      Agreement. Except as otherwise set forth herein, the 2005 Agreement shall remain
      in full force and effect.

     

    7. Headings.
      Headings used in this Amendment are for convenience only and shall not affect
      the construction or interpretation of the 2005 Agreement or this
      Amendment.

     

    8. Counterparts.
      This
      Amendment may be executed by facsimile and in one or more counterparts, each
      of
      which shall be deemed an original, and all of which together shall constitute
      one and the same instrument.

     

    [The
      Remainder of this Page is Intentionally Left Blank]

     

    
      
        
        

      

      
        2

        
          

        

      

      
        
        

      

    

    IN
      WITNESS WHEREOF, the undersigned have executed this Amendment as of the day
      and
      year first written above.

     

    
      	
              EMPLOYER:

            	
              EXECUTIVE:

            
	 	 
	
              MODIGENE
                INC.

            	 
	 	 
	 	 
	
              By:

            	 	 	 
	 	
              Name:

            	 	 	
              Eyal
                Fima

            
	 	
              Title:

            	 	 	 
	 	 
	 	
              Notice
                Address:

            
	 	 
	 	 
	 	 
	 	 

    

     

    
      
        
        

      

      
        S-1

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