Document:

Exhibit 10.3

	 

	 ENGLISH
		TRANSLATION

	 

	 AGREEMENT

	 

	 Drafted
		and executed in Tel Aviv on 1 November 1993

	 

	 Between

	 

	 L.I.M.S.
		Laboratory Information Management Systems Ltd.

	 of 31
		HaBarzel St., Tel Aviv

	 (hereinafter:
		the “Company”)

	 On
		the one part:

	 And

	 

	 Sivanir
		(Management Services) 1992 Ltd.

	 of 31
		HaBarzel St., Tel Aviv

	 (hereinafter:
		“Sivanir”)

	 On
		the other part:

	 

	 Whereas,
		Sivanir provides the Company with consulting and management services,
		and

	 

	 Whereas, the
		parties desire to render in writing the terms of their engagement for said
		provision of services,

	 

	 Now,
		therefore, it is declared, stipulated and agreed between the parties as
		follows:

	 

	 1. Status
		of Preamble 

	  

	 The
		preamble to this Agreement constitutes an integral part hereof and shall be
		read together with the rest of its parts.

	  

	 2. The
		Services 

	  

	 Sivanir
		shall provide the Company with consulting and management services including
		ongoing business consulting relating to business development, business
		management, and decision-making processes; professional consulting services in
		the area of finance relating to the development and marketing of the
		Company’s products; marketing and advertising consulting (sic) negotiation
		services with relevant parties in business; planning services for the
		development of new businesses and new products and general management services
		in the framework of the tasks that will be assigned by the Company’s board
		of directors.

	  

	 3. The
		Consideration

	  

	 3.1. In
		consideration of its services, the Company shall pay Sivanir a monthly payment
		equal to US$9,000, plus V.A.T. by law, on the first day of each month for the
		previous month.

	  

	 

	 
	 

	 
	 3.2. Such
		amount is linked to the U.S. consumer price index and shall be updated each
		year on January 1, (sic) the index of January 1993 shall serve as the base
		index.

	  

	 The US
		Dollar, for this purpose – an amount equal in New Israeli Shekels
		(“NIS”)
		calculated in accordance with the representative rate of exchange of the NIS
		vis-à-vis the US Dollar as most recently published by the Bank of Israel
		prior to any payment. 

	  

	 4. Term
		of the Agreement 

	  

	 Sivanir’s
		undertaking to provide management and consulting services shall be until
		December 31, 1994 (hereinafter: the “Term
		of the Agreement”).
		The Term of the Agreement shall renew automatically for addition terms of one
		year each, unless one party notifies the other regarding his desire to
		terminate the Agreement by advance written notice of 180 days prior to the date
		of such renewal.

	  

	 5. Level
		of Services

	  

	 Sivanir’s
		undertaking to provide management and consulting services shall be at the level
		at which they are being provided as of the date of the signing of this
		Agreement, or at a level that does not substantially deviate from them
		(sic).

	  

	 In
		witness whereof the said parties have hereunto set their hands:

	  

	 /s/
		                                                                                                          

	  

	 L.I.M.S.
		Laboratory Information and Management Systems Ltd.

	  

	 /s/
		               

	  

	 Sivanir
		Ltd.Exhibit
		10.4

	  

	 

	  

	 L.I.M.S.
		LABORATORY INFORMATION AND MANAGEMENT SYSTEMS LTD.

	 

	  

	  

	 
 

	 

	 2001
		OPTION PLAN

	  

	 

	 

	 

	 

	 

	 

	 

	 

	 

	 

	 

	  

	 L.I.M.S.
		2001 OPTION PLAN - PAGE 1 OF 7 PRINTED 8/29/06

	  

	 

	 
	 

	 
	 L.I.M.S.
		Laboratory Information and Management Systems Ltd., a corporation formed under
		the laws of the state of Israel (the “Company”), hereby establishes
		and adopts the following Stock Option Plan (the “Plan”), effective
		March 26,
		2001 (the
		“Effective Date”).

	  

	 1. Purpose. The purpose of
		the Plan is to attract and retain outstanding employees of the Company or
		L.I.M.S. (USA) Inc., a subsidiary of the Company formed under the laws of the
		State of Florida (“L.I.M.S.”) who will contribute to the
		Company’s success and achieve long-term objectives which will inure to the
		benefit of all stockholders of the Company and L.I.M.S. through the additional
		incentive inherent in the ownership of ordinary shares of the Company (1 NIS
		par value) (“Shares”).

	  

	 2. Shares
		Subject to Awards.

	  

	 (a) Awards under
		the Plan (“Award”) shall be in the form of non-qualified stock
		options (“Options”).

	  

	 (b) Subject to the
		adjustment provisions of Section 11 hereof, the aggregate number of Shares that
		are the subject of Awards under the Plan shall not exceed 200,000. Shares
		delivered under the Plan shall be Shares held by the Company. The Shares that
		are forfeited under the terms of the Plan and Shares that are the subject of
		Options that expire unexercised or which are otherwise surrendered by the
		holder of such Option (the “Optionee”) without receiving any payment
		or other benefit with respect thereto may again be subject to new Awards under
		the Plan.

	  

	 3. Administration
		of the Plan.

	  

	 (a) The Plan shall
		be administered by members of the compensation committee of the Board of
		Directors of the Company (the “Board”), consisting of not fewer than
		two directors of the Company, as designated by the Board (the
		“Committee”). The Board may remove from, add members to, or fill
		vacancies in the Committee. Each member of the Committee shall be a
		“non-employee director” within the meaning of Rule 16(b)-3 of the
		Securities Exchange Act of 1934, as amended (the “Exchange Act”) and
		an “outside director” within the meaning of Section 162(m)(4)(C)(i)
		of the Internal Revenue Code of 1986, as amended (the “Code”);
		provided, however, that if the Board determines that (i) the Plan cannot
		satisfy the requirements of Rule 16b-3 of the Exchange Act (i.e., such that
		grants of Awards are not exempt from Section 16(b) of the Exchange Act), then
		the members of the Committee need not be “non-employee directors,” or
		(ii) they no longer want the Plan to comply with the requirements of Code
		Section 162(m), then the members of the Committee need not be “outside
		directors.” 

	  

	 (b) The Committee
		is authorized, subject to the provisions of the Plan, to establish such rules
		and regulations as it may deem appropriate for the conduct of meetings and
		proper administration of the Plan. All actions of the Committee shall be taken
		by majority vote of its members, except that the members thereof may authorize
		any one or more of their number or any officer of the Company to execute and
		deliver documents on behalf of the Committee. Subject to the provisions of the
		Plan, the Committee shall have authority, in its sole discretion, to grant
		Awards under the Plan, to interpret the provisions of the Plan and, subject to
		the requirements of applicable law, to prescribe, amend, and rescind rules and
		regulations relating to the Plan or any Award thereunder as it may deem
		necessary or advisable. All decisions made by the Committee pursuant to the
		provisions of the Plan shall be final, conclusive and binding on all persons.
		No member of the Committee shall be liable for anything done or omitted to be
		

	  

	 L.I.M.S.
		2001 OPTION PLAN - PAGE 2 OF 7 PRINTED 8/29/06

	  

	 

	 
	 

	 
	 done by him or by
		any other member of the Committee in connection with the Plan, except for his
		own willful misconduct or as expressly provided by statute.

	  

	 4. Eligibility. Awards shall be
		made to such employees of the Company or L.I.M.S. as the Committee shall select
		from time to time. The Committee’s designation of an Optionee in any year
		shall not require the Committee to designate such person to receive Awards or
		grants in any other year.

	  

	 5. Stock
		Option Agreements. All Options
		granted pursuant to the Plan shall be evidenced in writing by stock option
		agreements (“Stock Option Agreements”) in such form and containing
		such terms and conditions as the Committee shall determine, including the
		following: 

	  

	 (a) Number of
		Shares. Each Option
		shall state the total number of Shares to which it pertains. 

	  

	 (b) Option
		Price. Except as
		otherwise provided by the Committee in the Stock Option Agreement, the Option
		price per each Share shall be the closing price of a Share on the Tel Aviv
		Stock Exchange on the date of the Award, converted into U.S. dollars based on
		the exchange rate of NIS and U.S. dollars as determined by the
		“representative rate” for such currencies published by the Bank of
		Israel for such date.

	  

	 (c) Option
		Period. Each Option
		shall expire on the fifth anniversary of its Award and no Option may be
		exercised after the expiration of its term.

	  

	 (d) Exercise
		Period. Except as
		otherwise provided by the Committee in a Stock Option Agreement, Options shall
		vest and become exercisable upon the Optionee’s completion of a number of
		years of continuous employment service for the Company or L.I.M.S. following
		the date of the grant of an Option as follows:

	 

	 
			
				less than two
				  years of service
 	
				0% of the total
				  Award;
 
	
				two years of
				  service
 	
				50% of the total
				  Award;
 
	
				three years of
				  service
 	
				75% of the total
				  Award less

				 amount previously
				  exercised;
 
	
				four or more years
				  of service
 	
				100% of the total
				  Award less

				 amount previously
				  exercised;
 

 

	  

	 provided, however,
		that, unless determined otherwise by the Board, Options shall cease to vest and
		all unvested Options shall be null and void immediately upon a reduction in the
		scope of duties that the Optionee performs for the Company or L.I.M.S., whether
		or not the Optionee’s job title changes. For purposes of this paragraph
		(d) medical, military, disability (including pregnancy), and other leaves of
		absence approved by the Company or L.I.M.S. shall be deemed to be continuous
		employment to the extent required by law or by the Committee in its sole
		discretion. Notwithstanding any provision of the Plan to the contrary, no
		Option shall be exercisable under this paragraph (d) unless counsel for the
		Company shall be satisfied that the transfer of Shares upon exercise will be in
		compliance with all applicable laws, including the U.S. Securities Exchange Act
		of 1934.

	  

	 L.I.M.S.
		2001 OPTION PLAN - PAGE 3 OF 7 PRINTED 8/29/06

	  

	 

	 
	 

	 
	 (e) Time and Manner
		of Payment. Each Stock
		Option Agreement shall provide that Options granted under the Plan shall be
		exercised by the Optionee (or by his executors, administrators, guardian or
		legal representative) as to all or part of the Shares covered thereby, by the
		giving of written notice of exercise to the Company, specifying the number of
		Shares to be purchased. Full payment of such purchase price plus all applicable
		taxes required to be withheld shall be made within five business days following
		the receipt of such notice by the Company and shall be made in cash or by
		certified check, bank check, or promissory note as permitted by the Committee
		in its sole discretion. Such notice of exercise and full payment, shall be
		delivered to the Company at its principal business office or such other office
		as the Committee may from time to time direct, and shall be in such form,
		containing such further provisions consistent with the provisions of the Plan,
		as the Committee may from time to time prescribe. In no event may any Option
		granted hereunder be exercised for a fraction of a Share. The Company shall
		effect the transfer of Shares purchased pursuant to an Option as soon as
		practicable, and, within a reasonable time thereafter, such transfer shall be
		evidenced on the books of the Company. No person exercising an Option shall
		have any of the rights of a holder of Shares subject to an Option until such
		Shares shall have been transferred and registered in the Company’s books
		in the name of the transferee following the exercise of such Option. No
		adjustment shall be made for cash dividends or other rights for which the
		record date is prior to the date of such transfer.

	  

	 (f) Other
		Provisions. A Stock Option
		Agreement may contain any other terms and conditions that the Committee, in its
		sole discretion, deems appropriate. 

	  

	 6. Non-Transferability
		of Options. No Option shall
		be assignable or transferable by the Optionee, and may be exercised during the
		lifetime of the Optionee only by the Optionee; provided, however, that during
		the Optionee’s lifetime, the Optionee may, with the consent of the
		Committee, transfer without consideration all or any portion of his Options to
		(i) one or more members of the Optionee’s immediate family, (ii) a trust
		established for the exclusive benefit of one or more members of the
		Optionee’s immediate family, or (iii) a limited liability company in which
		all members are members of the Optionee’s immediate family; provided,
		further, that any such immediate family, and any such trust, and limited
		liability company, shall agree to be and shall be bound by the terms and
		provisions of the Plan and any applicable Stock Option Agreement or other
		agreements covering the Options of the Shares. For purposes of this Section 6,
		“immediate family” means the Optionee’s spouse, children,
		stepchildren, grandchildren, parents, stepparents, grandparents, siblings
		(including half-brothers and half-sisters), in-laws,
		and all such relationships arising because of legal adoption. 

	  

	 7. Termination
		of Employment.

	  

	 (a) In the event
		of the termination of employment of an Optionee with the Company and/or
		L.I.M.S. for any reason (other than termination for cause, death or disability
		as provided below), Options granted to him that have not previously expired or
		been exercised shall be, to the extent exercisable on the date of such
		termination, exercisable by the Optionee within 60 days after the date of such
		termination, unless such Option is earlier terminated pursuant to its terms.
		All Options that are not exercisable as of the date of such termination or
		which are not exercised within 60 days thereafter, shall be deemed canceled and
		terminated as of such date, unless the Committee shall have, in its discretion,
		extended the exercise period to accommodate any legal or regulatory
		requirements that pertain to the exercise of Options or the delivery of
		Shares.

	  

	 L.I.M.S.
		2001 OPTION PLAN - PAGE 4 OF 7 PRINTED 8/29/06

	 

 

	 
	 

	 
	 (b) In the event
		that an Optionee’s employment is terminated by the Company and/or L.I.M.S.
		for “cause,” all Options exercisable as of the date of such
		termination shall be canceled and terminated as of such date. For these
		purposes, termination for “cause” shall mean the following: the
		Optionee’s violation of copyright/trademark protection maintained by the
		Company or L.I.M.S.; the Optionee’s engaging or assisting in any business
		in competition with the Company or L.I.M.S. as employee, owner, partner,
		director, officer, stockholder, consultant or agent (ownership of minority
		interests in publicly-traded corporations, partnerships or companies or of 5%
		or less of the equity of privately-held corporations, partnerships or companies
		shall not be considered competition for purposes of this Plan); or conviction
		of the Optionee by a court of law of competent jurisdiction for fraud,
		misappropriation, embezzlement, or any felony.

	  

	 8. Death. In the event an
		Optionee dies while employed by the Company and/or L.I.M.S., any Option granted
		to him that has not previously expired or been exercised shall, to the extent
		exercisable on the date of death, be exercisable by the estate of such Optionee
		or by any person who acquired such Option by bequest or inheritance, at any
		time prior to the expiration of the Option.

	  

	 9. Disability. In the event of
		the termination of employment of an Optionee due to disability, the Optionee or
		his guardian or legal representative, shall have the right to exercise any
		Option which has not been previously exercised or expired and which the
		Optionee was eligible to exercise as of the first date of his or her
		disability, at any time within 180 days of after such termination or
		separation, unless such Option is earlier terminated pursuant to its terms. All
		Options that are not exercisable as of the date of the Optionee’s
		termination or which are not exercised within the period set forth in the
		preceding sentence shall be deemed canceled and terminated. Whether or not the
		Optionee is “disabled,” for purposes of this Section 9, shall be
		determined by the Committee in its sole discretion. 

	  

	 10. Change
		of Control. In the event of
		a Change of Control, the expiration of all Options may be accelerated or the
		terms of such Option may be changed by the Board of the Company, in its sole
		discretion. For these purposes, a Change of Control shall be deemed to have
		occurred when:

	  

	 (a) any person (as
		such term is used in Section 13 of the U.S. Securities Exchange Act of 1934 and
		the rules and regulations thereunder and any person acting in concert with such
		person) directly or indirectly acquires or otherwise becomes entitled to vote
		more than 50% of the voting power entitled to be cast at elections for
		directors of the Company; or

	  

	 (b) there occurs
		any merger or consolidation of the Company or L.I.M.S., or any sale, lease or
		exchange of all or any substantial part of the consolidated assets of L.I.M.S.
		or the Company and its subsidiaries (as defined in Section 424(f) of the Code),
		to any other person, and (i) in the case of a merger or consolidation, the
		holders of outstanding stock of the Company (or L.I.M.S., as the case may be)
		entitled to vote in elections of directors of the Company (or L.I.M.S.)
		immediately before such merger or consolidation (excluding for this purpose any
		person that directly or indirectly owns or is entitled to vote 20% or more of
		the voting power of the Company (or L.I.M.S.)) hold less than 50% of the voting
		power of the survivor of such merger or consolidation or its parent, or (ii) in
		the case of any such sale, lease or exchange, the Company (or L.I.M.S.) does
		not own at least 50% of the voting power of the other person, or

	  

	 L.I.M.S.
		2001 OPTION PLAN - PAGE 5 OF 7 PRINTED 8/29/06

	  

	 

	 
	 

	 
	 (c) one or more
		new directors of the Company are elected and at such time five or more
		directors (or, if less, a majority of the directors) then holding office were
		not nominated as candidates by a majority of the directors in office
		immediately before such election. 

	  

	 11. Adjustments. In the event
		that the Committee shall determine that any recapitalization, stock split,
		reverse stock split, reorganization, merger, consolidation, split-up, spin-off,
		combination, repurchase, or exchange of Shares or other securities, the
		issuance of warrants or other rights to purchase Shares or other securities, or
		other similar corporate transaction or event affects the Shares with respect to
		which Options have been or may be issued under the Plan, such that an
		adjustment is determined by the Committee to be appropriate in order to prevent
		enlargement of the benefits or potential benefits intended to be made available
		under the Plan, then the Committee shall, in such manner as the Committee may
		deem equitable, adjust any or all of (i) the number and type of Shares that
		thereafter may be made the subject of Options, (ii) the number and type of
		Shares subject to outstanding Options, and (iii) the grant or exercise price
		with respect to any Option, or, if deemed appropriate, make provision for a
		cash payment to the holder of any outstanding Option; provided, however, that
		the number of Shares subject to any Option denominated in Shares shall always
		be a whole number.

	  

	 12. Tax
		Withholding. The Company or
		L.I.M.S. shall notify an Optionee of any income tax withholding requirements
		arising as a result of the grant of any Award or exercise of an Option. The
		Company or L.I.M.S. shall have the right to withhold from such Optionee such
		withholding taxes as may be required by law, or to otherwise require the
		Optionee to pay such withholding taxes. If the Optionee shall fail to make such
		tax payments as are required under Section 5(e), the Company or L.I.M.S. shall,
		to the extent permitted by law, have the right to deduct any such taxes from
		any payment of any kind, including a payment of Shares, otherwise due to such
		Optionee or to take such other action as may be necessary to satisfy such
		withholding obligations.

	  

	 13. Right
		of Discharge Reserved. Nothing in the
		Plan nor the grant of an Award hereunder shall confer upon any employee the
		right to continue in the employment of the Company, L.I.M.S. or any company
		affiliated with the Company or L.I.M.S. or affect any right that the Company or
		L.I.M.S. may have to terminate the employment or service of (or to demote or to
		exclude from future Options under the Plan) any such employee at any time for
		any reason. Except as specifically provided by the Committee, the Company shall
		not be liable for the loss of existing or potential profit from an Award
		granted in the event of termination of an employment or other relationship even
		if the termination is in violation of an obligation of the Company or L.I.M.S.
		to the employee.

	  

	 14. Severability. If any provision
		of the Plan shall be held unlawful or otherwise invalid or unenforceable in
		whole or in part, such unlawfulness, invalidity or unenforceability shall not
		affect any other provision of the Plan or part thereof, each of which remain in
		full force and effect. If the making of any payment or the provision of any
		other benefit required under the Plan shall be held unlawful or otherwise
		invalid or unenforceable, such unlawfulness, invalidity or unenforceability
		shall not prevent any other payment or benefit from being made or provided
		under the Plan, to the extent that it would not be unlawful, invalid or
		unenforceable, and the maximum payment or benefit that would not be unlawful,
		invalid or unenforceable shall be made or provided under the Plan.

	  

	 L.I.M.S.
		2001 OPTION PLAN - PAGE 6 OF 7 PRINTED 8/29/06

	  

	 

	 
	 

	 
	 
		15. Amendment
		  and Termination of the Plan. 

		

	  

	 (a) The Board may,
		from time to time, alter, amend, suspend or terminate the Plan with respect to
		Options that have not been granted, subject to any requirement for stockholder
		approval imposed by applicable law or any rule of any stock exchange or
		quotation system on which Shares are listed or quoted; provided, however, that
		the Board may not amend the Plan in any manner that would result in
		noncompliance with any applicable law. Neither the Board nor the Committee may,
		without the consent of the Optionee, alter or in any way impair the rights of
		such Optionee under any Award previously granted. Neither the termination of
		the Plan nor the Change of Control of the Company shall affect any Option
		previously granted. 

	  

	 (b) The Plan shall
		terminate and no further Options shall be granted hereunder after the fifth
		anniversary of the Effective Date unless terminated earlier by the Board
		pursuant to paragraph (a) hereof as of an earlier date.

	  

	 (c) Without
		amending the Plan, the Committee may grant Options to eligible individuals who
		are not U.S. nationals on such terms and conditions different from those
		specified in this Plan as may in the judgment of the Committee be necessary or
		desirable to foster and promote achievement of the purposes of the Plan, and,
		in furtherance of such purposes, the Committee may make such modifications,
		amendment, procedures and the like to the Plan as may be necessary or advisable
		to comply with the provisions of laws in other countries in which the Company
		operates or has employees.

	  

	 16. Gender
		and Number. Any masculine
		terminology used in this Plan document shall also include the feminine, and the
		definition of any term herein in the singular shall also include the plural
		except when otherwise indicated by the context.

	  

	 17. Governing
		Law. The Plan and all
		determinations made and actions taken thereunder, shall be governed by the laws
		of the State of Florida to the extent not otherwise governed by the Code or the
		federal laws of the United States if the Optionee is a resident of the United
		States and shall be governed and construed according to the laws of Israel if
		the Optionee is not a resident of the United States.

	  

	 L.I.M.S.
		2001 OPTION PLAN - PAGE 7 OF 7 PRINTED 8/29/06

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