Document:

GVI - ESI ALLIANCE
                           MEMORANDUM OF UNDERSTANDING
                                NOVEMBER 5, 2004

PURPOSE:

1.       To create an alliance between GVI and ESI whereby ESI exclusively runs
         all worldwide retail sales and distribution of consumer security
         products and GVI runs sales and services in the professional security
         industry exclusive of the retail channel of distribution controlled by
         ESI. "Retail Channel" includes all businesses that designate themselves
         as retailers, all distributors that sell to retailers, all wholesale
         clubs and all direct to consumer sales. GVI is compensated for
         providing purchasing and after sales services. ESI receives additional
         consideration in the form of stock and warrants in GVI. This structure
         will be to the parties' mutual benefit based on leveraging the
         competencies of each company. Except as otherwise provided in this
         Memorandum, the term of the alliance will be for 3 years; however, the
         term of the alliance will be automatically extended for consecutive and
         unlimited 1 year periods, provided that ESI does not notify GVI in
         writing at least 90 days prior to the end of the then current term or
         period of its intention not to renew the term of the alliance.

STRUCTURE:

1.       Consummate a Strategic Alliance Agreement (the "Alliance") containing
         terms outlined below.

2.       Consummate Stock and Warrant Agreements that provide an equity interest
         in GVI to ESI.

ESI STRATEGIC ALLIANCE AGREEMENT TERMS:

1.       ESI sells all of its licensed and owned brands and other brand names
         controlled by GVI (all subject to license agreement and/or distribution
         agreement restrictions) of retail security products through the
         Alliance.

2.       ESI agrees that it cannot directly sell into the professional security
         industry anywhere in the world in accordance with the Alliance, and
         will use diligent efforts to cause its distributors to only sell in the
         Retail Channel (as contrasted with the professional channel).

3.       ESI is primarily responsible for the following activities of the
         Alliance:

              o   Exclusive worldwide right of Sales to Retail Channel,
                  excluding aftermarket sales to ESI retail customers conducted
                  by GVI in after-sales support of ESI's retail accounts.

              o   Logistics/Distribution of retail products.

              o   Accounting.

              o   Financial support, including issuing transferable/discountable
                  LC's as appropriate for retail segment of GVI business, in an
                  amount equal to the Purchase Price of products described in
                  paragraph 5 below.

              o   Purchase of new displays (in such numbers and designs as are
                  determined by ESI and excluding any current display programs)
                  and Maintenance and stocking of all Displays.

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4.       ESI shall purchase products from GVI based on the lowest possible cost
         from the manufacturers (exclusive of shipping, customs, duties,
         warehousing and other incidental costs) ("Base Cost"). ESI will arrange
         for and directly pay, or at its option reimburse GVI, for the costs of
         shipping, customs, duties, warehousing and other incidental costs. ESI
         will interact directly with manufacturers and GVI and will ensure that
         the purchase is structured so that it occurs through GVI on GVI
         controlled brands (i.e., Samsung, LG) or is reported to GVI on non-GVI
         controlled brands (i.e., Akai).

5.       ESI will purchase products from GVI for a purchase price equal to 108%
         of the Base Cost ("Purchase Price").

              o   GVI is entitled to only any warranty allowance/rebates
                  provided under the Distribution or Manufacturing Agreements
                  with vendors. All such percentages are to be disclosed fully
                  to ESI.

              o   GVI will guarantee that, except for amounts for the current
                  display program (the remaining cost of which GVI will pay and
                  will be entitled to reimbursement from the Samsung market
                  development fund from products sold through such current
                  display program), ESI is reimbursed for the maximum amount
                  that could be refunded from the market development fund from
                  Samsung, LG, and others, as the case may be. The minimum
                  accrual is 2% of the Base Cost in the case of Samsung and 3%
                  of the Base Cost in the case of LG.

              o   The purchase price margin of 8% may be adjusted downward if
                  ESI's Gross Margin from GVI products (defined below and
                  weighted fully by all sources of revenue from the Alliance)
                  falls below 30%. The downward adjustment would be effective
                  upon ESI indicating a Gross Margin lower that 30%. The
                  downward adjustment in the purchase price margin would be in
                  proportion to the decrease in ESI's Gross Margin below 30%.
                  For example, if ESI's Gross Margin falls to 25%, the purchase
                  price margin would be reduced to 6.7% (i.e., 25%/30% times
                  8%).

              o   Gross Margin is to be defined as a fraction, the numerator of
                  which is the excess of Net Sales over Net Cost of Goods Sold
                  (inclusive of direct expenses such as product purchase price,
                  shipping, customs, duties, warehousing and other incidental
                  costs), and the denominator of which is Net Sales, and will be
                  computed in a manner consistent with the practices (for
                  salespeople and independent reps) of ESI. As of the date of
                  this Agreement, this Gross Margin is at an average of 30%.

              o   ESI will issue a Purchase Order to GVI for the products that
                  ESI wants to purchase. The PO will be for the amount of the
                  Purchase Price, which will be at 108% of Base Cost. ESI will
                  also issue a Letter of Credit, which will be for the amount of
                  the Base Cost. The difference between the Purchase Price and
                  the Base Cost is the purchase price margin of 8% which will be
                  due to GVI after ESI's receipt of the products under terms
                  that require payment to GVI of the net amount due within 30
                  days.

6.       ESI's obligations under the agreement will cease, at its option
         exercisable any time after June 30, 2005, if the Samsung agreement, as
         it relates to Sam's, is not renewed for at least one year beyond its
         current terms by June 30, 2005 and each year thereafter if not renewed
         for at least an additional year, on the same terms and for the same
         territory and products as currently exists, and for a term of at least
         1 year, and/or if ESI, in its sole discretion, is not satisfied with
         the LG products, contract terms or performance. If ESI exercises this
         option to terminate, ESI will not sell Samsung or LG for products in
         the retail security industry for a period of one year following the
         termination, provided that GVI has current contracts with Samsung or
         LG, respectively, throughout the one year period. ESI's obligations
         under the agreement will also cease, at its option, (a) in the event
         that GVI is in bankruptcy proceedings or is insolvent, or (b) GVI does
         not provide commercially reasonable after-sales support as required
         below or otherwise breaches this Memorandum or related agreements after
         written notice of its failure is provided and GVI fails to cure the
         failure within 30 days of the notice.

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7.       ESI may assign this Memorandum and related agreements to any of its
         affiliates.

GVI STRATEGIC ALLIANCE AGREEMENT TERMS:

1.       GVI and its affiliates exclusively grant to ESI and its affiliates all
         of their rights to Samsung, LG and any other brand names for use with
         retail security products (all subject to license agreement and/or
         distribution agreement restrictions), and grant to ESI and its
         affiliates the exclusive worldwide right to sell security products in
         the Retail Channel (excluding aftermarket sales to retail customers
         conducted by GVI in after-sales support of ESI's retail accounts).

2.       GVI and its affiliates exclusively grant to ESI and its affiliates all
         of their Retail Channel rights to all agreements relating to Brands and
         Suppliers (all subject to license agreement and/or distribution
         agreement restrictions),. ESI will receive all rebates on its purchases
         as provided herein (such as market development fund and early payment
         rebates), except for the limited market development fund reimbursement
         to GVI and the warranty allowance/rebate as mentioned above.

3.       GVI agrees that all of its direct and indirect sales in the
         professional security industry will be in accordance with the Alliance
         Agreement. GVI agrees to use its best efforts to enforce this paragraph
         and to prevent its customers (including any distributors or
         representatives) from selling such products in the Retail Channel.

4.       GVI will accept returns from ESI, retailers and consumers and allow
         full credit to ESI, consistent with the terms of the Representation
         Agreement, dated May 2, 2001, between the parties. Notwithstanding
         anything to the contrary contained in this paragraph, ESI's overstocked
         and unsold Retail Channel products shall not be returnable to GVI.

5.       Except for aftermarket sales to retail customers conducted by GVI in
         after-sales support of ESI's retail accounts or sales to distributors
         for the sole purpose of re-selling to professional channels, and except
         through ESI or its affiliates, neither GVI nor any of its affiliates
         can directly or indirectly sell to the worldwide Retail Channel. Terms
         restricting solicitation by GVI, both during and after the term of the
         agreement, will be incorporated in the Alliance Agreement, identical to
         these terms contained in the existing ESI-GVI agreement, except that
         the duration of the restriction relating to retailers specified in such
         agreement will be for 2 years after the end of the term hereof and the
         duration with respect to all other customers will be for 6 months after
         the end of the term hereof. Notwithstanding anything to the contrary
         contained in this paragraph, GVI shall have the limited right to sale
         new or refurbished security products that occur as a result of product
         returns to GVI from ESI or its customers, provided, however, that such
         sales are subject to GVI granting to ESI a right of first refusal to
         purchase the products and/or the right of approval of the sale of such
         products to a customer in the Retail Channel, and such approval shall
         not be unreasonably withheld.

6.       GVI is primarily responsible, at its sole cost, for the following
         activities of the Alliance:

              a. Warranty and Repair services.

              b. Aftermarket service and support.

              c. Technical Support.

<PAGE>

              d. Handling returns and replacements.

              e. The cost for Displays for the current display programs.

7.       ESI, at its option, may hire Daryl Zernick, an employee of GVI. If ESI
         elects to do so, GVI agrees to immediately pay Daryl all compensation
         (including commissions) and benefits accrued to him as of the date of
         hiring by ESI.

GVI EQUITY TO ESI:

1.       GVI provides to ESI a total of 6,000,000 shares of ownership in GVI
         (comprised of shares and warrants). GVI represents and warrants to ESI
         that it will not have more than 60,000,000 shares on a fully-diluted
         basis prior to December 31, 2005, provided that this representation
         will be extinguished if, prior to that date, GVI raises at least $10
         million in cash from the issuance of shares in a private placement
         conducted through Oppenheimer, Unterberg or any other sources and the
         private placement by Oppenhiemer and/or Unterberg has been concluded.
         This equity share will be granted to ESI in the following form:

              a.  3,000,000 shares granted to ESI at the earlier of signing the
                  Alliance Agreement or November 30, 2004.

              b.  3,000,000 shares granted to ESI in the form of warrants. The
                  exercise price of these warrants will be equal to the lowest
                  offering price of the shares in the private placement, if any,
                  conducted through Oppenheimer and/or Unterberg or conducted
                  directly by GVI between the date hereof and December 31, 2004;
                  provided that if GVI does not raise at least $10 million in
                  cash from the issuance of shares during this period, then the
                  exercise price will be $1.50. These warrants will be issued to
                  ESI at the earlier of signing the Alliance Agreement or
                  November 30, 2004.

2.       GVI will use its best efforts to cause registration of the shares and
         the shares issuable upon exercise of the warrants as soon as possible
         after the date hereof. GVI will guarantee ESI that all such
         registration will occur, at GVI's sole cost, no later than 120 days
         from the date hereof.

3.       All of the warrants will immediately vest and will be exercisable at
         any time. The warrants will be exercisable in whole or in parts, with
         respect to such number of shares as is determined by ESI from time to
         time. Similarly, GVI warrants that there will be no restrictions by GVI
         or, after registration as required by Paragraph 2 above, under
         securities laws with respect to ESI's ability to exercise the warrants
         or sell the shares issued pursuant to the exercise of these warrants,
         other than restrictions outside the control of GVI that restricts in an
         identical manner all of the shares of GVI.

4.       25% of the initial 3,000,000 shares granted to ESI will be vested on
         January 2, 2006. Additional vesting will occur on January 2, 2006 and
         thereafter at the rate of 25% for every $15 million of security
         products purchased by ESI from GVI after the date hereof. Vesting will
         not occur with respect to unvested shares that exist on the date that
         ESI terminates its agreement with GVI. For example, if ESI purchases
         $45 million of security products from GVI between the date hereof and
         January 2, 2006, and ESI has not terminated the agreement with GVI as
         of January 2, 2006, then 100% of the initial 3,000,000 shares will
         fully vest on January 2, 2006 and will be legally available for sale at
         that time.

<PAGE>

This Memorandum is intended to summarize the terms of the agreement between the
parties, is binding on the parties, and is effective immediately. The parties
agree to promptly proceed in good faith to enter into the final agreements
described under the heading "Structure" above, reflecting the terms set forth in
this Memorandum.

GVI Security, Inc.                          E&S International Enterprises, Inc.

By: ___________________________             By: _____________________________
       Name/Title:                                           Name/Title:EMPLOYMENT AGREEMENT

      THIS AGREEMENT is entered into as of November 8, 2004 (the "Effective
Date"), by and between BrainStorm Cell Therapeutics Ltd., a company incorporated
under the laws of the State of Israel and maintaining its principal place of
business at Petach Tikva, Israel (the "Company"), Golden Hand Resources Inc., a
company incorporated under the laws of the State of Washington and maintaining
its principal place of business at 36 Derech Bait Lechem, Jerusalem, Israel
77002 ("GDNH"), and Dr. Yaffa Beck, Israeli I.D. number _________, residing at
___________ Tel-Aviv, Israel (the "Executive").

WHEREAS:    The Company is engaged, inter alia, in the research, development,
            manufacturing and marketing of adult stem cell therapeutics for
            neurological diseases (the "Technology"); and

WHERAS:     The Company is a wholly owned subsidiary of GDNH; and

WHERAS:     The Company has entered into an agreement with GDNH whereby the
            Company agreed to provide GDNH with certain management and
            development services, including to provide Executive as President
            and CEO of GDNH; and

WHEREAS:    The Company desires to employ the Executive as the President and
            Chief Executive Officer (the "CEO") of the Company and GDNH also
            desires to engage the Executive's services as President and CEO of
            GDNH; and

WHEREAS:    the Executive represents that she has the requisite skill and
            knowledge to serve as the President and CEO of the Company and GDNH
            and she desires to engage in such employment, according to the terms
            and conditions hereinafter set forth.

      NOW, THEREFORE, in consideration of the respective agreements of the
parties contained herein, the parties agree as follows:

1.    Employment

      a)    The Company and GDNH agree to employ the Executive and the Executive
            agrees to be employed by the Company and GDNH on the terms and
            conditions set out in this Agreement.

      b)    The Executive shall be employed as the President and CEO of the
            Company and of GDNH. The Executive shall perform the duties,
            undertake the responsibilities and exercise the authority
            customarily performed, undertaken and exercised by persons situated
            in a similar capacities, subject to the direction of the Board of
            Directors (the "Israel BOD") of the Company and of GDNH (the "US
            BOD"), as applicable. The Executive shall report regularly to the US
            BOD and the Israel BOD with respect to her activities, as
            applicable.

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      c)    All provisions relating to the Company as Executive's employer,
            shall apply, mutatis mutandis, to GDNH.GDNH shall undertake to
            procure the appointment of the Executive as a Director in the US BOD
            and the Israel BOD.

      d)    The Company agrees that the Executive may provide consulting
            services and own equity in a limited number of other business
            entities, to be agreed upon in writing between the Company and
            Executive within the first month of the Executive's employment
            hereunder, provided that such activities do not conflict with the
            business and affairs of the Company and/or GDNH; or interfere with
            her ability to perform her duties to the Company and GDNH. Subject
            to the above, Executive shall devote her business time, energy and
            best efforts to the business and affairs of the Company and GDNH.

      e)    The Executive's position, duties and responsibilities hereunder
            shall be in the nature of management duties that demand a special
            degree of personal loyalty and the terms of Executive's employment
            hereunder shall not permit application to this Agreement of the Law
            of Work Hours and Rest 5711 - 1951. Accordingly, the statutory
            limitations of such law shall not apply to this Agreement. The
            Executive shall not be entitled to additional compensation from the
            Company for working additional hours or working on holidays or
            Sabbaths, as required by the Company.

2.    Base Salary

      The Company agrees to pay to the Executive in consideration for the
      Executive's obligations to Company and GDNH specified herein, beginning on
      the Effective Date an initial gross salary of $8,000 per month (the "Base
      Salary"). As of six (6) months subsequent to the Effective Date, the Base
      Salary of the Executive shall be adjusted to $12,000 per month.

      The Base Salary shall be payable monthly in arrears, in New Israeli
      Shekels ("NIS") according to the representative rate of exchange on day of
      payment, no later than the 10th day of each month.

3.    Stock Options

      GDNH hereby undertakes to grant the Executive an option (the "Option") in
      accordance with the terms and conditions set forth on Appendix 1 attached
      hereto, constituting an integral part hereof.

4.    Bonuses

      Executive shall be entitled to an annual bonus in connection with the
      achievement of milestones and/or objectives as determined by the BOD. In
      addition, within a 10-day period following the 12 months anniversary of
      the Effective Date, Executive will receive an additional bonus determined
      by the BOD of at least $50,000.

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5.    Executive Benefits

      The Executive shall be entitled to the following benefits:

      (a)   Sick Leave. The Executive shall be entitled to fully paid sick leave
            pursuant to the Sick Pay Law 5736 - 1976.

      (b)   Vacation. The Executive shall be entitled to an annual vacation of
            22 working days per year. Executive shall be entitled to accumulate
            vacation days and/or redeem their value, at her sole discretion.

      (c)   Manager's Insurance. The Company shall obtain on behalf of the
            Executive and in her name, a manager's insurance policy, a pension
            fund or a combination thereof (the "Manager's Insurance Policy"), as
            determined by the Executive. The Manager's Insurance Policy shall be
            payable as follows: A sum equal to 8.33% of the Executive's Base
            Salary shall be allocated to severance pay; a sum equal to 5% of the
            Executive's Base Salary shall be allocated to pension fund payments,
            provided that the Executive contributes an additional 5% of the
            Executive's Base Salary; and a sum equal to 2.5% of the Executive's
            Base Salary shall be allocated to disability pension payments.

            Contribution of the Company to the Manager's Insurance Policy shall
            be on account of the Company's severance pay obligations.

      (d)   Continuing Education Fund. The Company shall contribute a sum equal
            to 7.5% of the Executive's gross salary toward a continuing
            education fund (the "Continuing Education Fund"), provided that the
            Executive contributes an additional 2.5% of the Executive's gross
            salary to such Continuing Education Fund. Use of the funds in the
            Continuing Education Fund shall be in accordance with its by-laws.

      (e)   Telephone Costs; Cellular Phone. The Company shall provide the
            Executive, at the Company's sole cost and expense, a cellular phone
            and shall reimburse the Executive on telephone expenses.

      (f)   Out of Pocket Expenses. The Company shall pay or reimburse the
            Executive for expenses incurred on behalf of the Company during
            business trips outside Israel in accordance with Company's
            applicable policy (including business class airline tickets and
            accomodation). Reimbursement of such expenses shall be made upon the
            presentation by the Executive to the Company of itemized accounts or
            receipts, satisfactory to the Company.

      (g)   Company car. The Company shall purchase or lease for the Executive
            an executive car (of no less than 2L engine). All taxes with respect
            to the purchase or lease of the executive car shall be borne by the
            Company.

      (h)   Directors and Officers' (D&O) Liability Insurance. Upon signature of
            this agreement, the Company shall obtain on behalf of the Executive
            directors & officers liability insurance with coverage that is
            sufficient to cover Executive's activities hereunder, and shall
            provide the Executive with a written undertaking of the Company and
            of GDNH to indemnify and release the Executive to the full extent
            possible in accordance with the Israeli Companies Law 5759-1999 and
            the applicable Law of the State of Washington, USA.

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            The Company undertakes to maintain said insurance and pay all
            premiums thereof during the term of the Agreement and for a period
            of 5 years following expiration and/or termination of the Agreement
            for any reason whatsoever.

6.    Termination

      (a)   Either party may terminate this Agreement and the employee-employer
            relationship between the Executive and the Company and/or GDNH at
            any time without "Cause"(as defined below) upon ninety (90) days
            (the "Notice Period") written notice to the other party specifying
            the effective date of termination (the "Termination Date").
            Notwithstanding the aforesaid, the Company and/or GDNH may terminate
            Executive's employment for Cause (as defined herein below), in which
            event the Notice Period shall be thirty (30) days from the Company's
            written notice with respect to such termination; provided however,
            that the Company and/or GDNH has specified the basis for the
            termination in the written notice delivered to the Executive, and
            has given the Executive at least 15 days of the Notice Period, to
            cure such basis. . For the purposes hereof, "Cause" shall mean: (i)
            conviction of Executive of any felony; (ii) embezzlement of funds of
            the Company and/or GDNH by the Executive; or (iii) activity by
            Executive constituting direct competition with the Company and/or
            GDNH, other than as specified in Appendix 1 hereto.

            During the Notice Period the Executive shall be entitled to
            compensation pursuant to Section 2 and to all of the benefits set
            forth in Section5.

      (b)   During the Notice Period, the Executive shall transfer her position
            to her replacement in an orderly and complete manner and shall
            return to the Company all documents, professional literature and
            equipment belonging to the Company, which may be in her possession
            at such time. Notwithstanding the foregoing, the Company and/or GDNH
            may elect to immediately cease Executive's employment under this
            Agreement, provided that the Company and/or GDNH continues to pay
            the compensation pursuant to Section 2 and to all of the benefits
            set forth in Section 5 for the duration of the Notice Period.

      (c)   In the event of termination by the Company without Cause and/or in
            the event that Executive resigns as a result of Constructive
            Discharge (as such term is defined in Section of Appendix 2 hereto),
            as of the end of the Notice Period and during the following period
            of six (6) months, the Executive shall be entitled to full payment
            of her Base Salary as set forth in Section 2 (the "Termination
            Pay").

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      (d)   At the end of the Notice Period, the Company shall automatically
            transfer to the Executive ownership of her Manager's Insurance
            Policy, including severance payments and Continuing Education Fund.
            The Company and Executive agree and acknowledge that in the event
            the Company transfers ownership of Executive's Manager's Insurance
            Policy to the Executive, the severance portion thereof shall
            constitute payment towards any severance pay the Company may be
            required to pay to the Executive pursuant to the Severance Pay Law
            5727-1963, as long as the Insurance Policy contains all payments due
            by law.

7.    Competitive Activity

      During the term of this Agreement and for a period of twelve (12) months
      from the Termination Date of this Agreement, the Executive will not
      directly or indirectly:

      (i)   Carry on or hold an interest in any company, venture, entity or
            other business (other than a minority interest in a publicly traded
            company) which directly competes with the Technology;

      (ii)  Act as a consultant or executive or officer or in any managerial
            capacity in a business directly competing with the Technology;

      (iii) Solicit, canvass or approach or endeavor to solicit, canvass or
            approach any person who, to her knowledge, was provided with
            services by the Company or its subsidiaries at any time during the
            twelve (12) months immediately prior to the Termination Date, for
            the purpose of offering restricted services or products which
            directly compete with the Technology; or

      (iv)  Employ, solicit or entice away or endeavor to solicit or entice away
            from the Company or its subsidiaries any person employed by the
            Company or its subsidiaries any time during the twelve (12) months
            immediately prior to the Termination Date with a view to inducing
            that person to leave such employment and to act for another employer
            in the same or a similar capacity.

8.    Ownership and Protection of Intellectual Property and Confidential
      Information:

      (a)   All information, ideas, concepts, improvements, discoveries, and
            inventions, whether patentable or not, which are conceived, made,
            developed or acquired by Executive, individually or in conjunction
            with others, during Executive's employment by Company, which
            directly relate to the Company's business, Technology, products or
            services and all writings or materials of any type embodying any of
            such items, shall be the sole and exclusive property of Company.

      (b)   Executive acknowledges that the businesses of Company and its
            affiliates are highly competitive and that their strategies,
            methods, books, records, and documents, their technical information
            concerning their Technology, products, equipment, services, and
            processes, procurement procedures and pricing techniques, the names
            of and other information (such as credit and financial data)
            concerning their customers and business affiliates, all comprise

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<PAGE>

            confidential business information and trade secrets which are
            valuable, special, and unique assets which Company uses in its
            business to obtain a competitive advantage over its competitors (the
            "Confidential Information"). Executive further acknowledges that
            protection of such Confidential Information against unauthorized
            disclosure and use is of critical importance to Company in
            maintaining its competitive position. Executive hereby agrees that
            Executive will not, at any time during or after her employment by
            Company, make any unauthorized disclosure of any Confidential
            Information of Company, or make any use thereof, except in the
            carrying out of her employment responsibilities hereunder.
            Confidential Information shall not include (i) information in the
            public domain (but only if the same becomes part of the public
            domain through a means other than a disclosure prohibited hereunder)
            or (ii) information which was lawfully in the possession of the
            Executive prior to the Executive's employment by Company. The above
            notwithstanding, a disclosure shall not be unauthorized if (i) it is
            required by law or by a court of competent jurisdiction or (ii) it
            is in connection with any judicial or other legal proceeding in
            which Executive's legal rights and obligations as an Executive under
            this Agreement are at issue; provided, however, that Executive
            shall, to the extent practicable and lawful in any such events, give
            prior notice to Company of her intent to disclose any such
            confidential business information in such context so as to allow
            Company an opportunity (which Executive will not oppose) to obtain
            such protective orders or similar relief with respect thereto as it
            may deem appropriate.

      (c)   All written materials, records, and other documents made by, or
            coming into the possession of, Executive during the period of
            Executive's employment by Company which contain or disclose
            Confidential Information of Company or its affiliates shall be and
            remain the property of Company or its affiliates, as the case may
            be. Upon termination of Executive's employment by Company, for any
            reason, Executive promptly shall deliver the same, and all copies
            thereof, to Company.

9.    Notice

      For the purpose of this Agreement, notices and all other communications
      provided for in the Agreement shall be in writing and shall be deemed to
      have been duly given when personally delivered or sent by registered mail,
      postage prepaid, addressed to the respective addresses set forth below or
      last given by each party to the other, except that notice of change of
      address shall be effective only upon receipt.

      The initial addresses of the parties for purposes of this Agreement shall
      be as set forth in the preamble hereto.

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10.   Miscellaneous

      (a)   No provision of this Agreement may be modified, waived or discharged
            unless such waiver, modification or discharge is agreed to in
            writing and signed by the Executive and the Company. No waiver by
            either party hereto at any time of any breach by the other party
            hereto of, or compliance with, any condition or provision of this
            Agreement to be performed by such other party shall be deemed a
            waiver of similar or dissimilar provisions or conditions at the same
            or at any prior or subsequent time.

      (b)   This Agreement shall be governed by and construed and enforced in
            accordance with the laws of the State of Israel and sole
            jurisdiction shall be granted to the competent courts in Tel-Aviv.

      (c)   The provisions of this Agreement shall be deemed severable and the
            invalidity or unenforceability of any provision shall not affect the
            validity or enforceability of the other provisions hereof.

      (d)   This Agreement constitutes the entire agreement between the parties
            hereto and supersedes all prior agreements, understandings and
            arrangements, oral or written, between the parties hereto with
            respect to the subject matter hereof. No agreement or
            representations, oral or otherwise, express or implied, with respect
            to the subject matter hereof have been made either party which are
            not expressly set forth in this Agreement.

      (e)   This Agreement shall be binding upon and shall inure to the benefit
            of the Company, its successors and assigns, and the Company shall
            require such successor or assign to expressly assume and agree to
            perform this Agreement in the same manner and to the same extent
            that the Company would be required to perform it if no such
            succession or assignment had taken place. The term "successors and
            assigns" as used herein shall mean a corporation or other entity
            acquiring all or substantially all the assets and business of the
            Company (including this Agreement) whether by operation of law or
            otherwise.

      (f)   Neither this Agreement nor any right or interest hereunder shall be
            assignable or transferable by the Executive, his beneficiaries or
            legal representatives, except by will or by the laws of descent and
            distribution. This Agreement shall inure to the benefit of and be
            enforceable by the Executive's legal personal representative.

      (g)   The provisions of Section 7 of this Agreement shall survive the
            rescission or termination, for any reason, of this Agreement, and
            shall survive the termination of the Executive's employment with the
            Company.

      (h)   The section headings contained herein are for reference purposes
            only and shall not in any way affect the meaning or interpretation
            of this Agreement.

                                       7
<PAGE>

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

BrainStorm Cell Therapeutics Ltd.           Yaffa Beck

/s/ Yoram Drucker                           /s/ Yaffa Beck
---------------------                       ------------------
By: Yoram Drucker

Title: Director

/s/ Irit Arbel
----------------------------
Golden Hand Resources, Inc.

By: Irit Arbel

Title: Director

<PAGE>

                                                                      Appendix 1

1.    GDNH hereby undertakes to grant the Executive an option (the "Option") to
      purchase 1,828,692 Shares of Common Stock of GDNH (the "Option Shares")
      representing four percent (4%) of the issued and outstanding share capital
      of GDNH on the Effective Date, on a fully diluted and as converted basis.
      The Option shall vest and become exercisable in thirty six equal monthly
      installments from the Effective Date (as defined in the Agreement) and
      shall be exercisable by the Executive at any time during a period of ten
      (10) years from the Effective Date (the "Option Expiration Date"), but in
      any case not later than four (4) years after termination of the Agreement.

2.    GDNH also undertakes that two (2) years from the Effective Date (the
      "Additional Option Date"), it will grant the Executive an option (the
      "Additional Option") to purchase such number of Shares of Common Stock of
      GDNH (the "Additional Option Shares") representing two percent (2%) of the
      issued and outstanding share capital of GDNH as of the Additional Option
      Date, on a fully diluted and as converted basis.The Additional Option
      shall vest and become exercisable in thirty six equal monthly installments
      commencing as of the Additional Option Date and shall be exercisable by
      the Executive at any time during a period of ten (10) years from the
      Additional Option Date (the "Additional Expiration Date"), but in any case
      not later than four (4) years after termination of the Agreement.

3.    The Option and the Additional Option (collectively the "Options") shall be
      granted to Executive pursuant to GDNH Share Option Plan (SOP). The SOP
      will be made and approved in accordance with Section 102 of the Israeli
      Tax Ordinance, as amended ("Section 102"), and shall be classified as
      Section 102 Capital Gains Options.

4.    The exercise price per each share underlying the Options shall be equal to
      $0.15. The exercise of all or part of the Options shall be effected at
      Executive's discretion.

5.    GDNH hereby agrees to register the shares underling the Options on a Form
      S-8 Registration Statement; however, GDNH's obligation to register the
      shares shall not take effect until the one year anniversary of the grant
      of the option agreement.

6.    In the event that the Company terminates Executive's employment without
      Cause (as defined in the Agreement) or in the event that Executive resigns
      as a result of Constructive Discharge (as defined below) or in the event
      of termination of Executive's employment by reason of Disability (as
      defined hereinbelow) or death of the Executive, all of the remaining
      unvested Options shall vest immediately as of the date of the notice of
      termination, and Executive or her legal representative, estate or other
      person to whom her rights are transferred by will or by laws of descent or
      distribution, shall be entitled to exercise the vested Options from said
      date until the earlier of (i) the lapse of four (4) years thereafter, or
      until the Option Expiration Date or Additional Expiration Date, as
      applicable. Notwithstanding the above, in the event of termination of

                                       8
<PAGE>

      Executive's employment by reason of Disability or death of the Executive
      within two (2)years of the Effective Date, only 67% of the remaining
      unvested Options shall vest immediately as of the date of the notice of
      termination and the Executive or her legal representative, estate or other
      person to whom her rights are transferred by will or by laws of descent or
      distribution, shall be entitled to exercise the vested Options as above.
      The term "Constructive Discharge" shall mean (i) material reduction in
      Executive's compensation; (ii) material reduction in the level, scope of
      job responsibility or status or material change in the position of
      Executive occurring without the consent of Executive; (iii) relocation to
      an office of the Company which is more than sixty (60) kilometers from the
      office where Executive was previously located to which Executive has not
      agreed; or (iv) voluntary termination by Executive as a result of an M&A
      Transaction or within 6 months thereafter. For the purposes hereof, "M&A
      Transaction" shall mean a merger, consolidation, corporate reorganization,
      or any transaction in which all or substantially all of the assets or
      shares of GDNH and/or the Company are sold, leased or transferred to
      another company or otherwise disposed of; and the term "Disability" shall
      mean a physical or mental infirmity which impairs Executive's ability to
      substantially perform her duties under the Agreement and which continues
      for a period of at least 90 (ninety) consecutive days.

7.    In the event that the Company terminates Executive's employment for Cause
      (as defined in the Agreement), Executive shall be entitled to exercise the
      Options vested as of the date of the notice of termination until the lapse
      of twelve (12) months thereof, and all Options which are not yet vested on
      the date of such termination shall immediately expire.

                                       9

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