Document:

Exhibit 10(xii)
---------------

              2005 Schedule of Named Executive Officer Compensation
              -----------------------------------------------------

2005 Salary.  Following are the 2005 salaries for the Corporation's named
executive officers:
<TABLE>
<CAPTION>
   Name and Principal Position                                                  Salary
   ---------------------------                                                  ------
<S>                                                                             <C>
   Mark D. Bradford, President, CEO and Director                                $165,000

   John E. Christy, President, Central Indiana Region                           $126,072

   Gordon M. Dyott, Executive Vice President, Chief Financial Officer           $126,072

   Robert J. Krupka, Senior Vice President, Lending                             $126,072

   R. Scott Walters, Senior Vice President, Financial Management Services       $105,060
</TABLE>

Monthly and Annual Variable Incentive Compensation. The Named Executive Officers
are also compensated under the monthly and annual variable incentive
compensation program.

The monthly component of incentive compensation provides the executives with a
fixed amount each month if the Bank's year to date net income exceeded the
Bank's budgeted net income as of the end of the specific month. For 2005, Mr.
Bradford is eligible to receive $2,500 per month under this component of
incentive compensation; Mr. Dyott is eligible to receive $2,000 per month; Mr.
Walters is eligible to receive $1,000 per month; Mr. Krupka is eligible to
receive $1,000 per month; and Mr. Christy is eligible to receive $1,000 per
month.

Under the annual variable incentive compensation component of the program, there
is specified a percentage of the annual increase in the Bank's modified pre-tax
net income over the prior year's modified pre-tax net income that each executive
officer will receive. The Bank's pre-tax net income is modified by adding to
pre-tax net income the amount of monthly and annual incentive compensation
expense paid to the executive officers. These amounts will not be paid until the
Bank's final performance results for 2005 have been determined.

The target payout for each officer participating in the program is based upon
bonus targets for equivalent positions at peer group companies. For 2005, the
target payout for Mr. Bradford is 28.4% of his base salary; the target payout
for Mr. Dyott is 29.7% of his base salary; the target payout for Mr. Walters is
17.8% of his base salary; the target payout for Mr. Krupka is 14.7% of his base
salary; and, the target payout for Mr. Christy is 14.7% of his base salary.

1999 Management Stock Option Plan.
---------------------------------

Named executive officers are eligible to participate in the 1999 Management
Stock Option Plan of Monroe Bancorp ("Management Plan"). The Management Plan
provides for the grant of (i) incentive stock options ("ISOs") within the
meaning of Section 422 of the Internal Revenue Code ("Code") and (ii)
nonqualified stock options ("NSOs") to officers and key employees of the
Corporation or any of its subsidiaries, as selected by the administrative
committee of the Management Plan.

The option price per share of the Corporation's common stock will not be less
than the fair market value of one share of the Corporation's common stock on the
date the stock option is granted.

                                       47
<PAGE>

The Management Plan will expire on December 31, 2009; after that date, no
options will be granted under the Management Plan. However, options granted
prior to that date will remain in effect in accordance with their terms.

Other Employee Benefit Plans.
-----------------------------

         Thrift Plan. The Corporation maintains a Thrift Plan in which
substantially all employees may participate. Under this plan, the Corporation
contributes 100% of each participant's compensation deferral contributions up to
3% of the participant's total compensation plus 50% of each participant's
compensation deferral contributions which exceed 3% of the participant's total
compensation but which do not exceed 5% of the participant's total compensation.

         Employee Stock Ownership Plan. The Corporation maintains an Employee
Stock Ownership Plan ("ESOP") in which substantially all employees may
participate. The ESOP invests primarily in the stock of the Corporation. The
amount of contributions by the Corporation to the ESOP, when they are made, is
determined by the Board of Directors of the Corporation. Upon termination of
employment, shares allocated to participants are distributed to them from the
plan.

          Other Benefits. At various times in the past the Corporation has
adopted certain broad based employee benefit plans in which executive officers
are permitted to participate on the same terms as non-executive employees who
meet applicable eligibility criteria, subject to any legal limitations on the
amount that may be contributed or the benefits that may be payable under the
plans. The Corporation also provides medical and defined contribution plans to
the executive officers that are generally available to the other Corporation
employees.

                                       48EXHIBIT 4.1

    NUMBER                                                          UNITS
U-__________

  SEE REVERSE FOR      ISRAEL TECHNOLOGY ACQUISITION CORP.
CERTAIN DEFINITIONS

                                                                           CUSIP

 UNITS CONSISTING OF ONE SHARE OF COMMON STOCK AND TWO WARRANTS EACH TO PURCHASE
                           ONE SHARE OF COMMON STOCK

THIS CERTIFIES THAT ____________________________________________________________

is the owner of _________________________________________________________ Units.

Each Unit ("Unit")  consists of one (1) share of common stock,  par value $.0001
per share ("Common Stock"),  of Israel Technology  Acquisition Corp., a Delaware
corporation (the  "Company"),  and two warrants (the  "Warrants").  Each Warrant
entitles  the  holder to  purchase  one (1) share of Common  Stock for $5.00 per
share (subject to adjustment). Each Warrant will become exercisable on the later
of (i) the Company's  completion  of a merger,  capital  stock  exchange,  asset
acquisition or other similar business  combination and (ii)  ___________,  2006,
and will  expire  unless  exercised  before  5:00 p.m.,  New York City Time,  on
____________,  2009, or earlier upon redemption  (the  "Expiration  Date").  The
Common Stock and Warrants  comprising the Units  represented by this certificate
are not transferable  separately prior to __________,  2005,  subject to earlier
separation in the discretion of EarlyBirdCapital, Inc. The terms of the Warrants
are  governed by a Warrant  Agreement,  dated as of _______,  2005,  between the
Company and Continental  Stock Transfer & Trust Company,  as Warrant Agent,  and
are subject to the terms and provisions  contained  therein,  all of which terms
and provisions the holder of this certificate  consents to by acceptance hereof.
Copies of the Warrant  Agreement  are on file at the office of the Warrant Agent
at 17 Battery Place,  New York, New York 10004, and are available to any Warrant
holder on written request and without cost.

         This  certificate  is not valid  unless  countersigned  by the Transfer
Agent and Registrar of the Company.

         Witness the facsimile  seal of the Company and the facsimile  signature
of its duly authorized officers.

By                       Israel Technology Acquisition Corp.

                                       CORPORATE
                                       DELAWARE

    -------------------------------       SEAL       --------------------------
              Chairman of the Board       2005       Secretary

<PAGE>

                       ISRAEL TECHNOLOGY ACQUISITION CORP.

         The Company  will furnish  without  charge to each  stockholder  who so
requests,  a statement of the powers,  designations,  preferences  and relative,
participating, optional or other special rights of each class of stock or series
thereof of the Company and the qualifications,  limitations,  or restrictions of
such preferences and/or rights.

         The following  abbreviations,  when used in the inscription on the face
of this certificate,  shall be construed as though they were written out in full
according to applicable laws or regulations:

<TABLE>
         <S>         <C>                                         <C>
         TEN COM -   as tenants in common                        UNIF GIFT MIN ACT - _____ Custodian ______
         TEN ENT -   as tenants by the entireties                                    (Cust)         (Minor)
         JT TEN -    as joint tenants with right of survivorship           under Uniform Gifts to Minors
                     and not as tenants in common                          Act ______________
                                                                                  (State)
</TABLE>

Additional Abbreviations may also be used though not in the above list.

         FOR VALUE RECEIVED, ___________________________ HEREBY SELL, ASSIGN AND
TRANSFER UNTO

PLEASE INSERT SOCIAL SECURITY OR OTHER
    IDENTIFYING NUMBER OF ASSIGNEE

---------------------------------------

---------------------------------------

________________________________________________________________________________
  (PLEASE PRINT OR TYPEWRITE NAME AND ADDRESS, INCLUDING ZIP CODE, OF ASSIGNEE)

________________________________________________________________________________

________________________________________________________________________________

__________________________________________________________________________ UNITS

REPRESENTED BY THE WITHIN CERTIFICATE, AND DO HEREBY IRREVOCABLY CONSTITUTE
AND APPOINT ___________________________________________________________ ATTORNEY
TO TRANSFER  THE SAID UNITS ON THE BOOKS OF THE WITHIN  NAMED  COMPANY WILL FULL
POWER OF SUBSTITUTION IN THE PREMISES.

DATED _______________________

                               _________________________________________________
                               NOTICE:  The  signature to this  assignment  must
                                        correspond with the name as written upon
                                        the  face of the  certificate  in  every
                                        particular,    without   alteration   or
                                        enlargement or any change whatever.

Signature(s) Guaranteed:

________________________________________________________________________________
THE  SIGNATURE(S)  SHOULD BE  GUARANTEED  BY AN ELIGIBLE  GUARANTOR  INSTITUTION
(BANKS,  STOCKBROKERS,  SAVINGS  AND LOAN  ASSOCIATIONS  AND CREDIT  UNIONS WITH
MEMBERSHIP IN AN APPROVED SIGNATURE  GUARANTEE  MEDALLION  PROGRAM,  PURSUANT TO
S.E.C. RULE 17Ad-15).

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