Document:

ZONE4PLAY INC.

                        THE 2004 GLOBAL SHARE OPTION PLAN

<PAGE>

                                TABLE OF CONTENTS

1.   PURPOSE OF THE PLAN......................................................3

2.   DEFINITIONS..............................................................3

3.   ADMINISTRATION OF THE PLAN...............................................5

4.   DESIGNATION OF PARTICIPANTS..............................................6

5.   SHARES RESERVED FOR THE PLAN.............................................6

6.   PURCHASE PRICE...........................................................7

7.   ADJUSTMENTS..............................................................7

8.   TERM AND EXERCISE OF OPTIONS.............................................9

9.   VESTING OF OPTIONS......................................................10

10    PUCHASE FOR INVESTMENT ................................................10

11    DIVIDENDS..............................................................12

12    RESTRICTIONS ON ASSIGNABILITY AND SALE OF OPTIONS......................12

13    EFFECTIVE DATE AND DURATION OF THE PLAN................................12

14    AMENDMENTS OR TERMINATION..............................................13

15    GOVERNMENT REGULATIONS.................................................14

16    CONTINUANCE OF EMPLOYMENT..............................................13

17    GOVERNING LAW AND JURISDICTION.........................................13

18   TAX CONSEQUENCES........................................................14

19    NON-EXCLUSIVITY OF THE PLAN............................................14

20    MULTIPLE AGREEMENTS....................................................14

21   RULES PARTICULAR TO SPECIFIC COUNTRIES..................................14

                                       2
<PAGE>

This plan, as amended from time to time, shall be known as the Zone4Play Inc.
2004 Global Share Option Plan (the "PLAN").

1.    PURPOSE OF THE PLAN

      The Plan is intended to provide an incentive to retain, in the employ of
      the Company (as defined below) and its affiliates, persons of training,
      experience and ability; to attract new employees, directors, consultants
      and service providers; to encourage the sense of proprietorship of such
      persons; and to stimulate the active interest of such persons in the
      development and financial success of the Company by providing them with
      opportunities to purchase shares in the Company.

2.    DEFINITIONS

      For purposes of interpreting the Plan and related documents (including the
      Option Agreement and its appendixes), the following definitions shall
      apply:

      2.1   "BOARD" means the Board of Directors of the Company.

      2.2   "CAUSE" means (i) conviction for any felony involving moral
            turpitude or affecting the Company or its affiliates; (ii) any
            refusal to carry out a reasonable directive of the Company's Chief
            Executive Officer, Board or the Optionee's direct supervisor, which
            involves the business of the Company or its affiliates and was
            capable of being lawfully performed; (iii) embezzlement of funds of
            the Company or its affiliates; (iv) any breach of the Optionee's
            fiduciary duties or duties of care of the Company or its affiliates;
            including without limitation disclosure of confidential information
            of the Company or its affiliates; and (v) any conduct (other than
            conduct in good faith) reasonably determined by the Board to be
            materially detrimental to the Company or its affiliates.

      2.3   "CHAIRMAN" means the Chairman of the Committee.

      2.4   "COMMITTEE" means a share option compensation committee of the
            Board, designated from time to time by the resolution of the Board,
            which shall consist of no fewer than two members of the Board, each
            of whom is a "non-employee director" as defined in Rule 16b-3 and an
            "outside director" within the meaning of Section 162(m).

      2.5   "COMPANY" means Zone4Play Inc., a Nevada company.

      2.6   "DATE OF GRANT" means the date determined by the Board as set forth
            in the Option Agreement.

      2.7   "EMPLOYEE" means a person who is employed by the Company or any
            affiliate.

      2.8   "EXCHANGE ACT" means the Securities Exchange Act of 1934, as
            amended.

                                       3
<PAGE>

      2.8 "EXPIRATION DATE" means the date upon which an Option shall expire, as
      set forth in Section 8.2 of the Plan.

      2.9 "FAIR MARKET VALUE" means as of any date, the value of a Share
      determined as follows:

            (i)   If the Shares are listed on any established stock exchange or
                  a national market system, including without limitation the Tel
                  Aviv Stock Exchange, the NASDAQ National Market System or the
                  NASDAQ SmallCap Market, the Fair Market Value shall be the
                  last reported sale price for such Shares (or the highest
                  closing bid, if no sales were reported), as quoted on such
                  exchange or system for the last market trading day prior to
                  time of determination, as reported in The Wall Street Journal,
                  or such other source as the Board deems reliable;

            (ii)  If the Shares are regularly quoted by one or more recognized
                  securities dealers, but selling prices are not reported, the
                  Fair Market Value shall be the mean between the highest bid
                  and lowest asked prices for the Shares on the last market
                  trading day prior to the day of determination; or

            (iii) In the absence of an established market for the Shares, the
                  Fair Market Value thereof shall be determined in good faith by
                  the Board.

            (iv)  Notwithstanding the foregoing, the Fair Market Value of a
                  Share shall never be less than par value of such Share.

      2.10  "IPO" means the initial public offering of the Company's shares.

      2.11  "OPTION" means an option to purchase one or more Shares pursuant to
            the Plan.

      2.12  "OPTIONEE" means a person who receives or holds an Option under the
            Plan.

      2.13  "OPTION AGREEMENT" means the share option agreement between the
            Company and an Optionee that evidences and sets out the terms and
            conditions of an Option.

      2.14  "PLAN" means the Company's 2004 Global Share Option Plan.

      2.15  "PURCHASE PRICE" means the price for each Share subject to an
            Option.

      2.16  "RULE 16B-3" means Rule 16b-3 promulgated by the Securities and
            Exchange Commission under Section 16 of the Exchange Act and any
            successor rule.

      2.17  "SECTION 162(M)" means Section 162(m) of the Internal Revenue Code
            of 1986, as amended from time to time, or any successor thereto, and
            the regulations thereunder.

      2.16  "SERVICE PROVIDER" means a director, consultant or adviser of the
            Company or any affiliate, or any other person who is not an
            Employee.

                                       4
<PAGE>

      2.17  "SHARE" means the common stock, 0.001 par value, of the Company.

      2.18  "SUCCESSOR COMPANY" means any entity into which the Company is
            merged to or by which the Company is acquired.

      2.20  "VESTED OPTION" means any Option, which has already vested upon one
            or more of the Vesting Dates of such Option.

      2.21  "VESTING DATE" means, with respect to any Option, the date
            determined by the Board as of which the Optionee shall be entitled
            to exercise such Option, in whole or in part , as set forth in
            Section 9 of the Plan.

3.    ADMINISTRATION OF THE PLAN

      3.1   The Board shall have the power to administer the Plan. To the extent
            permitted under applicable law, the Board may delegate its powers
            under the Plan, or any part thereof, to the Committee, in which
            case, any reference to the Board in the Plan with respect to the
            rights so delegated shall be construed as reference to the
            Committee. Notwithstanding the foregoing, the Board shall
            automatically have residual authority (i) if no Committee shall be
            constituted, (ii) with respect to rights not delegated by the Board
            to the Committee, or (iii) if such Committee shall cease to operate
            for any reason whatsoever.

      3.2   The Committee, if appointed, shall select one of its members as its
            Chairman and shall hold its meetings at such times and places as the
            Chairman shall determine. The Committee shall keep records of its
            meetings and shall make such rules and regulations for the conduct
            of its business as it shall deem advisable.

      3.3   The Board shall have full power and authority to the extent required
            under applicable law (and subject further to applicable laws): (i)
            to designate Optionees; (ii) to determine the terms and provisions
            of respective Option Agreements (which need not be identical)
            including, but not limited to, the number of Shares to be covered by
            each Option, provisions concerning the time or times when and the
            extent to which the Options may be exercised and the nature and
            duration of restrictions as to transferability or restrictions
            constituting substantial risk of forfeiture; (iii) to accelerate the
            right of an Optionee to exercise, in whole or in part, any
            previously granted Option; (iv) to interpret the provisions and
            supervise the administration of the Plan; (v) to determine the Fair
            Market Value of the Shares; (vi) to designate the type of Options to
            be granted to an Optionee; (vii) to determine any other matter which
            is necessary or desirable for, or incidental to, the administration
            of the Plan.

      3.4   The Board shall have the authority to grant, in its discretion, to
            an Optionee, in exchange for the surrender and cancellation of an
            Option, a new Option having a purchase price equal to, lower than or
            higher than the Purchase Price of the original Option so surrendered
            and canceled, and containing such other terms and conditions as the
            Board may prescribe in accordance with the provisions of the Plan.

                                       5
<PAGE>

      3.5   Subject to the Company's incorporation documents, all decisions and
            selections made by the Board or, if appointed, the Committee
            pursuant to the provisions of the Plan shall be made by a majority
            of its members except that no member of the Board or the Committee
            shall vote on, or be counted for quorum purposes, with respect to
            any proposed action of the Board or the Committee relating to any
            Option to be granted to that member. Any decision reduced to writing
            shall be executed in accordance with the provisions of the Company's
            incorporation documents, as the same may be in effect from time to
            time.

      3.6   The interpretation and construction by the Board of any provision of
            the Plan or of any Option Agreement thereunder shall be final and
            conclusive.

      3.7   Subject to the Company's incorporation documents and the Company's
            discretion, and conditioned upon receipt of all approvals legally
            required, each member of the Board or, if appointed, the Committee
            shall be indemnified and held harmless by the Company against any
            cost or expense (including counsel fees) reasonably incurred by him,
            or any liability (including any sum paid in settlement of a claim
            with the approval of the Company) arising out of any act or omission
            to act in connection with the Plan unless arising out of such
            member's own fraud or bad faith, to the extent permitted by
            applicable law. Such indemnification shall be in addition to any
            rights of indemnification the member may have as a director or
            otherwise under the Company's incorporation documents, any
            agreement, any vote of shareholders or disinterested directors,
            insurance policy or otherwise.

4.    DESIGNATION OF PARTICIPANTS

      The persons eligible for participation in the Plan shall include Employees
      and/or Service Providers. The grant of an Option hereunder shall neither
      entitle the Optionee to nor disqualify him or her from, receipt of any
      other grant of Options pursuant to the Plan or any other option or share
      plan of the Company or any of its affiliates.

      The Board's grant of an Option to an Optionee hereunder in any year shall
      not require the Board to grant such Optionee an Options in any other year.
      The Board shall consider such factors as it deems pertinent in selecting
      an Optionee and in determining the type and amount of Options to be
      granted. An Optionee may hold more than one Option granted under the Plan.

      5.    SHARES RESERVED FOR THE PLAN; OPTION AGREEMENT

            5.1   The Company has reserved 5,000,000 authorized but unissued
                  Shares for the purposes of the Plan and for the purpose of the
                  Company's other share option plans when applicable, subject to
                  adjustment as set forth in Section 7 below. Any Shares which
                  remain unissued and which are not subject to outstanding
                  Options at the termination of the Plan shall cease to be
                  reserved for the purpose of the Plan, but until termination of
                  the Plan the Company shall at all times reserve a sufficient
                  number of Shares to meet the requirements of the Plan. Should
                  any Option for any reason expire or be canceled prior to its
                  exercise or relinquishment in full, the Shares subject to such
                  Option may again be subject to new Options under the Plan or
                  under future plans.

            5.2   Each Option granted pursuant to the Plan, shall be evidenced
                  by a written Option Agreement between the Company and the
                  Optionee, in such form as the Board shall from time to time
                  approve. Each Option Agreement shall state, inter alia, the
                  number of Shares to which the Option relates, the type of
                  Option granted, the Vesting Date or Dates, the Purchase Price
                  per Share and the Expiration Date.

                                       6
<PAGE>

6.    PURCHASE PRICE

      6.1   The Purchase Price of each Share subject to an Option shall be
            determined by the Board in its sole and absolute discretion in
            accordance with applicable law. Each Option Agreement will contain
            the Purchase Price determined for each Optionee.

      6.2   The Purchase Price shall be payable upon the exercise of an Option
            by cash, check or wire transfer or in such form as the Board may
            accept.

7.    ADJUSTMENTS

      Upon the occurrence of any of the following described events, Optionee's
      rights to purchase Shares under the Plan shall be adjusted as hereafter
      provided:

      7.1   Recapitalization. The number and kind of shares subject to
            outstanding Options, the purchase price or exercise price of such
            Options, and the number and kind of shares available for Options
            subsequently granted under the Plan shall be appropriately and
            equitably adjusted so as to maintain the proportionate number of
            Shares without changing the aggregate Purchase Price so to reflect
            any stock dividend, stock split, combination or exchange of shares,
            merger, consolidation or other change in capitalization with a
            similar substantive effect upon the Plan or the Options granted
            under the Plan. The Board shall have the power and sole and absolute
            discretion to determine the nature and amount of the adjustment to
            be made in each case.

      7.2   Upon the dissolution or liquidation of the Company, upon a
            reorganization, merger, or consolidation in which the Company is not
            the surviving corporation, upon the sale of substantially all of the
            property or assets of the Company to another corporation, or if at
            least 50% or more of the voting stock of the Company is sold either
            through a tender offer or otherwise to a party or an affiliated
            group of parties, then the Plan and the Options issued thereunder
            shall terminate, unless provisions are made in connection with such
            transaction for the assumption of Options theretofore granted, or
            for the substitution for such Options of new options of the
            successor corporation or a parent or subsidiary thereof, with
            appropriate adjustment as to the number and kinds of shares and the
            per share exercise prices. In the event such Options shall be
            terminated, all outstanding Options shall be exercisable in full for
            at least 30 days prior to such termination date.

      7.3   The Optionee acknowledges that Optionee's rights to sell the Shares
            may be subject to certain limitations (including a lock-up period),
            as will be requested by the Company or its underwriters, and the
            Optionee unconditionally agrees and accepts any such limitations.

                                       7
<PAGE>

8.    TERM AND EXERCISE OF OPTIONS

      8.1   Options shall be exercised by the Optionee's by giving written
            notice of to the Company or to any third party designated by the
            Company (the "REPRESENTATIVE"), in such form and method as may be
            determined by the Company, which exercise shall be effective upon
            receipt of such notice by the Company and/or the Representative and
            the payment of the Purchase Price for the number of Shares with
            respect to which the Option is being exercised, at the Company's or
            the Representative's principal office. The notice shall specify the
            number of Shares with respect to which the Option is being
            exercised. No Shares shall be issued on exercise of an Option until
            payment, as provided herein, therefor has been made.

      8.2   Options, to the extent not previously exercised, shall terminate
            upon the earlier of: (i) the date set forth in the Option Agreement;
            (ii) the expiration of ten (10) years from the Date of Grant; or
            (iii) the expiration of any extended period in any of the events set
            forth in Section 8.5 below.

      8.3   The Options may be exercised by the Optionee in whole at any time or
            in part from time to time, to the extent that the Options have
            become vested and exercisable, prior to the Expiration Date, and
            provided that, subject to the provisions of Section 8.5 below, the
            Optionee is an Employee or a Service Provider at all times during
            the period beginning with the granting of the Option and ending upon
            the date of exercise.

      8.4   Subject to the provisions of Section 8.5 below, in the event of
            termination of Optionee's employment or service, all Options granted
            to such Optionee shall immediately expire. Unless otherwise approved
            by the Committee, a notice of termination of employment or services
            shall be deemed to constitute termination of employment or services.

      8.5   Notwithstanding anything to the contrary hereinabove and unless
            otherwise determined in the Optionee's Option Agreement, an Option
            may be exercised after the date of termination of Optionee's
            employment or service during an additional period of time beyond the
            date of such termination, but only with respect to the number of
            Vested Options at the time of such termination according to the
            Vesting Dates, if:

            8.5.1 termination is without Cause, in which event the Vested
                  Options still in force and unexpired may be exercised within a
                  period of three (3) months after the date of such termination;
                  or

            8.5.2 termination is the result of death or disability of the
                  Optionee, in which event the Vested Options still in force and
                  unexpired may be exercised within a period of twelve (12)
                  months after such date of termination; or-

            8.5.3 prior to the date of such termination, the Board shall
                  authorize an extension of the term of all or part of the
                  Vested Options beyond the date of such termination for a
                  period not to exceed the period during which the Options by
                  their terms would otherwise have been exercisable.

                                       8
<PAGE>

            For avoidance of any doubt, if termination of employment or service
            is for Cause, any outstanding unexercised Option will immediately
            expire and terminate, and the Optionee shall not have any right in
            respect of such outstanding Options.

      8.6   To avoid doubt, Optionees shall not have any of the rights or
            privileges of shareholders of the Company, in respect of any Shares
            purchasable upon the exercise of an Option, nor shall they be deemed
            to be a class of shareholders or creditors of the Company for the
            purpose of all applicable law, until registration of the Optionee as
            holder of such Shares in the Company's register of shareholders upon
            exercise of the Option in accordance with the provisions of the
            Plan.

9.    VESTING OF OPTIONS

      9.1   Subject to the provisions of the Plan, Options shall vest at the
            Vesting Dates set forth in the relevant Option Agreement. However no
            Option shall be exercised after the Expiration Date of such Option.

      9.2   An Option may be subject to such other terms and conditions, not
            inconsistent with the Plan, on the time or times when it may be
            exercised as the Committee may deem appropriate. The vesting
            provisions of individual Options may vary.

10.   PURCHASE FOR INVESTMENT

      The Company's obligation to issue or allocate Shares upon exercise of an
      Option granted under the Plan is expressly conditioned upon: (a) the
      Company's completion of any registration or other qualifications of such
      Shares under all applicable laws, rules and regulations or (b)
      representations and undertakings by the Optionee (or his legal
      representative, heir or legatee, in the event of the Optionee's death) to
      assure that the sale of the Shares complies with any registration
      exemption requirements which the Company in its sole discretion shall deem
      necessary or advisable. Such required representations and undertakings may
      include representations and agreements that such Optionee (or his legal
      representative, heir, or legatee): (a) is purchasing such Shares for
      investment and not with any present intention of selling or otherwise
      disposing thereof; and (b) agrees to have placed upon the face and reverse
      of any certificates evidencing such Shares a legend setting forth (i) any
      representations and undertakings which such Optionee has given to the
      Company or a reference thereto and (ii) that, prior to effecting any sale
      or other disposition of any such Shares, the Optionee must furnish to the
      Company an opinion of counsel, satisfactory to the Company, that such sale
      or disposition will not violate the applicable laws, rules and regulations
      of the United States or any other state having jurisdiction over the
      Company and the Optionee.

                                       9
<PAGE>

11.   DIVIDENDS

      With respect to all Shares (but excluding, for avoidance of any doubt, any
      unexercised Options) allocated or issued upon the exercise of Options
      purchased by the Optionee and held by the Optionee or by a trustee, as the
      case may be, the Optionee shall be entitled to receive dividends in
      accordance with the quantity of such Shares, subject to the provisions of
      the Company's incorporation documents, as amended from time to time and
      subject to any applicable taxation on distribution of dividends.

12.   RESTRICTIONS ON ASSIGNABILITY AND SALE OF OPTIONS

      No Option or any right with respect thereto, purchasable hereunder,
      whether fully paid or not, shall be assignable, transferable, or given as
      collateral nor any right with respect thereto may be given to any third
      party whatsoever, other than by will or by the laws of descent and
      distribution or as specifically otherwise allowed under the Plan and
      during the lifetime of the Optionee, each and all of such Optionee's
      rights to purchase Shares hereunder shall be exercisable only by the
      Optionee. Any action made in contradiction to the aforementioned shall be
      null and void.

13.   EFFECTIVE DATE AND DURATION OF THE PLAN

      The Plan shall be effective as of the day it was adopted by the Board and
      shall terminate at the end of ten (10) years from such day of adoption.

      The Company shall obtain the approval of the Company's shareholders for
      the adoption of this Plan or for any amendment to this Plan, if
      shareholders' approval is necessary or desirable to comply with any
      applicable law including without limitation the U.S. securities law or the
      securities laws of other jurisdiction applicable to Options granted to
      Optionees under this Plan, or if shareholders' approval is required by any
      authority or by any governmental agencies or national securities exchanges
      including without limitation the US Securities and Exchange Commission.

14.   AMENDMENTS OR TERMINATION

      14.1  The Board may at any time, subject to the provisions of Section 14.2
            below and all applicable law, amend, alter, suspend or terminate the
            Plan, provided, however, that (i) the Board may not extend the term
            of the Plan specified in Section 13 and (ii) no amendment,
            alteration, suspension or termination of the Plan shall impair the
            rights of any Optionee, unless mutually agreed otherwise by the
            Optionee and the Company, which agreement must be in writing and
            signed by the Optionee and the Company. Earlier termination of the
            Plan prior to the Termination Date shall not affect the Board's
            ability to exercise the powers granted to it hereunder with respect
            to Options granted under the Plan prior to the date of such earlier
            termination.

                                       10
<PAGE>

      14.2  The Company shall obtain the approval of the Company's shareholders
            for any amendment to this Plan and/or the Appendixes thereto if
            shareholders' approval is required under any applicable law
            including without limitation the U.S. securities law or the
            securities laws of other jurisdiction applicable to Options granted
            to Optionees under this Plan and/or the Appendixes thereto, or if
            shareholders' approval is required by any authority or by any
            governmental agencies or national securities exchanges including
            without limitation the U.S. Securities and Exchange Commission.

15.   GOVERNMENT REGULATIONS

            The Plan, the granting and exercise of Options hereunder and the
            obligation of the Company to sell and deliver Shares under such
            Options shall be subject to all applicable laws, rules, regulations,
            approvals and consents whether of the United States, the State of
            Israel, or any other state having jurisdiction over the Company or
            the Optionee, including the registration of the Shares under the
            United States Securities Act 1933 or under the securities act of any
            applicable jurisdiction, and to such approvals by any governmental
            agencies or national securities exchanges as may be required.
            Nothing herein shall be deemed to require the Company to register
            the Shares under the securities law of any jurisdiction.

            It is intended that the Plan be applied and administered in
            compliance with Rule 16b-3 and with Section 162(m). If any provision
            of the Plan would be in violation of Section 162(m) if applied as
            written, such provision shall not have effect as written and shall
            be given effect so as to comply with Section 162(m) as determined by
            the Board in its sole and absolute discretion. The Board is
            authorized to amend the Plan and the Board is authorized to make any
            such modifications to Option Agreements to comply with Rule 16b-3
            and Section 162(m), as they may be amended from time to time, and to
            make any other such amendments or modifications deemed necessary or
            appropriate to better accomplish the purposes of the Plan in light
            of any amendments made to Rule 16b-3 and Section 162(m).
            Notwithstanding the foregoing, the Board may amend the Plan so that
            it (or certain of its provisions) no longer comply with either or
            both of Rule 16b-3 or Section 162(m) if the Board specifically
            determines that such compliance is no longer desired and the Board
            may grant Options that do not comply with Rule 16b-3 and/or Section
            162(m) if the Board determines, in its sole and absolute discretion,
            that it is in the interest of the Company to do so.

16.   CONTINUANCE OF EMPLOYMENT

            Neither the Plan nor any Option Agreement shall impose any
            obligation on the Company or an affiliate to continue any Optionee
            in its employ or service, and nothing in the Plan or in any Option
            granted pursuant hereto shall confer upon any Optionee any right to
            continue in the employ or service of the Company or an affiliate
            thereof or restrict the right of the Company or an affiliate thereof
            to terminate such employment or service at any time.

17.   GOVERNING LAW AND JURISDICTION

                                       11
<PAGE>

      The Plan shall be governed by and construed and enforced in accordance
      with the laws of the State of Israel as applicable to contracts made and
      to be performed therein, without giving effect to the principles of
      conflict of laws. The competent courts of the State of Israel shall have
      sole jurisdiction in any matters pertaining to the Plan.

18.   TAX CONSEQUENCES

      Any tax consequences to any Optionee arising from the grant or exercise of
      any Option, from the payment for Shares covered thereby or from any other
      event or act (of the Company and/or its affiliates, or the Optionee)
      hereunder shall be borne solely by the Optionee. The Company and/or its
      affiliates shall withhold taxes according to the requirements under the
      applicable laws, rules, and regulations, including withholding taxes at
      source. Furthermore, the Optionee shall agree to indemnify the Company
      and/or its affiliates and hold them harmless against and from any and all
      liability for any such tax or interest or penalty thereon, including
      without limitation, liabilities relating to the necessity to withhold, or
      to have withheld, any such tax from any payment made to the Optionee.

      The Company shall not be required to release any Share certificate to an
      Optionee until all required payments have been fully made.

21.   NON-EXCLUSIVITY OF THE PLAN

      The adoption of the Plan by the Board shall not be construed as amending,
      modifying or rescinding any previously approved incentive arrangements or
      as creating any limitations on the power of the Board to adopt such other
      incentive arrangements as it may deem desirable, including, without
      limitation, the granting of Options otherwise then under the Plan, and
      such arrangements may be either applicable generally or only in specific
      cases. For the avoidance of doubt, prior grant of options to Optionees of
      the Company under their employment agreements, and not in the framework of
      any previous option plan, shall not be deemed an approved incentive
      arrangement for the purpose of this section.

22.   MULTIPLE AGREEMENTS

      The terms of each Option may differ from other Options granted under the
      Plan at the same time, or at any other time. The Board may also grant more
      than one Option to a given Optionee during the term of the Plan, either in
      addition to, or in substitution for, one or more Options previously
      granted to that Optionee. Except as required by Rule 16b-3 with respect to
      Options granted to persons subject to Section 16 of the Exchange Act, no
      amendment of an Option shall be deemed to be the grant of a new Option.

                                       12
<PAGE>

23.   RULES PARTICULAR TO SPECIFIC COUNTRIES

      Notwithstanding anything herein to the contrary, the terms and conditions
      of the Plan may be adjusted with respect to a particular country by means
      of an addendum to the Plan in the form of an appendix (the "APPENDIX"),
      and to the extent that the terms and conditions set forth in the Appendix
      conflict with any provisions of the Plan, the provisions of the Appendix
      shall govern. Terms and conditions set forth in the Appendix shall apply
      only to Options issued to Optionees under the jurisdiction of the specific
      country that is subject of the Appendix and shall not apply to Options
      issued to any other Optionee. The adoption of any such Appendix shall be
      subject to the approval of the Board and if required the approval of the
      shareholders of the Company.

                                      * * *

                                       13
<PAGE>

                                 ZONE4PLAY INC.

                               APPENDIX A - ISRAEL

                       TO THE 2004 GLOBL SHARE OPTION PLAN

1.    GENERAL

      1.1.  This appendix (the "APPENDIX") shall apply only to participants who
            are residents of the state of Israel or those who are deemed to be
            residents of the state of Israel for the payment of tax. The
            provisions specified hereunder shall form an integral part of the
            2004 Global Share Option Plan of Zone4Play Inc. (hereinafter: the
            "PLAN"), which applies to the issuance of options to purchase Shares
            of Zone4Play Inc. (hereinafter: the "COMPANY"). According to the
            Plan, options to purchase the Company's Shares may be issued to
            employees, directors, consultants and service providers of the
            Company or its affiliates.

      1.2   This Appendix shall comply with Amendment no. 132 of the Israeli Tax
            Ordinance.

      1.3.  This Appendix is to be read as a continuation of the Plan and only
            modifies options granted to Israeli Optionees so that they comply
            with the requirements set by the Israeli law in general, and in
            particular with the provisions of Section 102 (as specified herein),
            as may be amended or replaced from time to time. For the avoidance
            of doubt, this Appendix does not add to or modify the Plan in
            respect of any other category of Optionees.

      1.5.  The Plan and this Appendix are complementary to each other and shall
            be deemed as one. In any case of contradiction, whether explicit or
            implied, between the provisions of this Appendix and the Plan, the
            provisions set out in the Appendix shall prevail.

      1.6.  Any capitalized terms not specifically defined in this Appendix
            shall be construed according to the interpretation given to it in
            the Plan.

2.    DEFINITIONS

      2.1   "AFFILIATE" means any "employing company" within the meaning of
            Section 102(a) of the Ordinance.

      2.2   "APPROVED 102 OPTION" means an Option granted pursuant to Section
            102(b) of the Ordinance and held in trust by a Trustee for the
            benefit of the Optionee.

<PAGE>

      2.3   "CAPITAL GAIN OPTION (CGO)" means an Approved 102 Option elected and
            designated by the Company to qualify for capital gain tax treatment
            in accordance with the provisions of Section 102(b)(2) of the
            Ordinance.

      2.4   "CONTROLLING SHAREHOLDER" shall have the meaning ascribed to it in
            Section 32(9) of the Ordinance.

      2.5   "EMPLOYEE" means a person who is employed by the Company or its
            Affiliates, including an individual who is serving as a director or
            an office holder, but excluding any Controlling Shareholder, all as
            determined under Section 102 of the Ordinance.

      2.6   "ITA" means the Israeli Tax Authorities.

      2.7   "NON-EMPLOYEE" means a consultant, adviser, service provider,
            Controlling Shareholder or any other person who is not an Employee.

      2.8   "ORDINARY INCOME OPTION (OIO)" means an Approved 102 Option elected
            and designated by the Company to qualify under the ordinary income
            tax treatment in accordance with the provisions of Section 102(b)(1)
            of the Ordinance.

      2.9   "102 OPTION" means any Option granted to Employees pursuant to
            Section 102 of the Ordinance.

      2.10  "3(I) OPTION" means an Option granted pursuant to Section 3(i) of
            the Ordinance to any person who is a Non- Employee.

      2.11  "ORDINANCE" means the Israeli Income Tax Ordinance [New Version]
            1961 as now in effect or as hereafter amended.

      2.12  "SECTION 102" means section 102 of the Ordinance and any
            regulations, rules, orders or procedures promulgated thereunder as
            now in effect or as hereafter amended.

      2.13  "TRUSTEE" means any individual appointed by the Company to serve as
            a trustee and approved by the ITA, all in accordance with the
            provisions of Section 102(a) of the Ordinance.

      2.14  "UNAPPROVED 102 OPTION" means an Option granted pursuant to Section
            102(c) of the Ordinance and not held in trust by a Trustee.

3.    ISSUANCE OF OPTIONS

      3.1   The persons eligible for participation in the Plan as Optionees
            shall include any Employees and/or Non-Employees of the Company or
            of any Affiliate; provided, however, that (i) Employees may only be
            granted 102 Options; and (ii) Non-Employees and/or Controlling
            Shareholders may only be granted 3(i) Options.

                                     - 2 -
<PAGE>

      3.2   The Company may designate Options granted to Employees pursuant to
            Section 102 as Unapproved 102 Options or Approved 102 Options.

      3.3   The grant of Approved 102 Options shall be made under this Appendix
            adopted by the Board, and shall be conditioned upon the approval of
            this Appendix by the ITA.

      3.4   Approved 102 Options may either be classified as Capital Gain
            Options ("CGOS") or Ordinary Income Options ("OIOS").

      3.5   No Approved 102 Options may be granted under this Appendix to any
            eligible Employee, unless and until the Company's election of the
            type of Approved 102 Options as CGO or OIO granted to Employees (the
            "ELECTION") is appropriately filed with the ITA. Such Election shall
            become effective beginning the first date of grant of an Approved
            102 Option under this Appendix and shall remain in effect at least
            until the end of the year following the year during which the
            Company first granted Approved 102 Options. The Election shall
            obligate the Company to grant only the type of Approved 102 Option
            it has elected, and shall apply to all Optionees who were granted
            Approved 102 Options during the period indicated herein, all in
            accordance with the provisions of Section 102(g) of the Ordinance.
            For the avoidance of doubt, such Election shall not prevent the
            Company from granting Unapproved 102 Options simultaneously.

      3.6   All Approved 102 Options must be held in trust by a Trustee, as
            described in Section 4 below.

      3.7   For the avoidance of doubt, the designation of Unapproved 102
            Options and Approved 102 Options shall be subject to the terms and
            conditions set forth in Section 102.

4.    TRUSTEE

      4.1   Approved 102 Options which shall be granted under this Appendix
            and/or any Shares allocated or issued upon exercise of such Approved
            102 Options and/or other shares received subsequently following any
            realization of rights, including without limitation bonus shares,
            shall be allocated or issued to the Trustee and held for the benefit
            of the Optionees for such period of time as required by Section 102
            or any regulations, rules or orders or procedures promulgated
            thereunder (the "HOLDING PERIOD"). In case the requirements for
            Approved 102 Options are not met, then the Approved 102 Options may
            be regarded as Unapproved 102 Options, all in accordance with the
            provisions of Section 102.

      4.2   Notwithstanding anything to the contrary, the Trustee shall not
            release any Shares allocated or issued upon exercise of Approved 102
            Options prior to the full payment of the Optionee's tax liabilities
            arising from Approved 102 Options which were granted to him and/or
            any Shares allocated or issued upon exercise of such Options.

                                     - 3 -
<PAGE>

      4.3   With respect to any Approved 102 Option, subject to the provisions
            of Section 102 and any rules or regulation or orders or procedures
            promulgated thereunder, an Optionee shall not sell or release from
            trust any Share received upon the exercise of an Approved 102 Option
            and/or any share received subsequently following any realization of
            rights, including without limitation, bonus shares, until the lapse
            of the Holding Period required under Section 102 of the Ordinance.
            Notwithstanding the above, if any such sale or release occurs during
            the Holding Period, the sanctions under Section 102 of the Ordinance
            and under any rules or regulation or orders or procedures
            promulgated thereunder shall apply to and shall be borne by such
            Optionee.

      4.4   Upon receipt of Approved 102 Option, the Optionee will sign an
            undertaking to release the Trustee from any liability in respect of
            any action or decision duly taken and bona fide executed in relation
            with this Appendix, or any Approved 102 Option or Share granted to
            him thereunder.

5.    THE OPTIONS

      The terms and conditions upon which the Options shall be issued and
      exercised, shall be as specified in the Option Agreement to be executed
      pursuant to the Plan and to this Appendix. Each Option Agreement shall
      state, inter alia, the number of Shares to which the Option relates, the
      type of Option granted thereunder (whether a CGO, OIO, Unapproved 102
      Option or a 3(i) Option), the vesting provisions and the exercise price.

6.    FAIR MARKET VALUE

      Without derogating from Section 2.9 of the Plan and solely for the purpose
      of determining the tax liability pursuant to Section 102(b)(3) of the
      Ordinance, if at the date of grant the Company's shares are listed on any
      established stock exchange or a national market system or if the Company's
      shares will be registered for trading within ninety (90) days following
      the date of grant of the CGOs, the fair market value of the Shares at the
      date of grant shall be determined in accordance with the average value of
      the Company's shares on the thirty (30) trading days preceding the date of
      grant or on the thirty (30) trading days following the date of
      registration for trading, as the case may be.

7.    EXERCISE OF OPTIONS

      Options shall be exercised by the Optionee by giving a written notice to
      the Company and/or to any third party designated by the Company (the
      "REPRESENTATIVE"), in such form and method as may be determined by the
      Company and, when applicable, by the Trustee, in accordance with the
      requirements of Section 102, which exercise shall be effective upon
      receipt of such notice by the Company and/or the Representative and the
      payment of the exercise price for the number of Shares with respect to
      which the option is being exercised, at the Company's or the
      Representative's principal office. The notice shall specify the number of
      Shares with respect to which the option is being exercised.

                                     - 4 -
<PAGE>

8.    ASSIGNABILITY AND SALE OF OPTIONS

      8.1.  Notwithstanding any other provision of the Plan, no Option or any
            right with respect thereto, purchasable hereunder, whether fully
            paid or not, shall be assignable, transferable or given as
            collateral or any right with respect to them given to any third
            party whatsoever, and during the lifetime of the Optionee each and
            all of such Optionee's rights to purchase Shares hereunder shall be
            exercisable only by the Optionee.

            Any such action made directly or indirectly, for an immediate
            validation or for a future one, shall be void.

      8.2   As long as Options or Shares purchased pursuant to thereto are held
            by the Trustee on behalf of the Optionee, all rights of the Optionee
            over the shares are personal, can not be transferred, assigned,
            pledged or mortgaged, other than by will or laws of descent and
            distribution.

9.    INTEGRATION OF SECTION 102 AND TAX ASSESSING OFFICER'S PERMIT

      9.1.  With regards to Approved 102 Options, the provisions of the Plan
            and/or the Appendix and/or the Option Agreement shall be subject to
            the provisions of Section 102 and the Tax Assessing Officer's
            permit, and the said provisions and permit shall be deemed an
            integral part of the Plan and of the Appendix and of the Option
            Agreement.

      9.2.  Any provision of Section 102 and/or the said permit which is
            necessary in order to receive and/or to keep any tax benefit
            pursuant to Section 102, which is not expressly specified in the
            Plan or the Appendix or the Option Agreement, shall be considered
            binding upon the Company and the Optionees.

10.   DIVIDEND

      Subject to the Company's incorporation documents, with respect to all
      Shares (but excluding, for avoidance of any doubt, any unexercised
      options) allocated or issued upon the exercise of Options and held by the
      Optionee or by the Trustee as the case may be, the Optionee shall be
      entitled to receive dividends in accordance with the quantity of such
      shares, and subject to any applicable taxation on distribution of
      dividends, and when applicable subject to the provisions of Section 102
      and the rules, regulations or orders promulgated thereunder.

11.   TAX CONSEQUENCES

      11.1  Any tax consequences arising from the grant or exercise of any
            Option, from the payment for Shares covered thereby or from any
            other event or act (of the Company, and/or its Affiliates, and the
            Trustee or the Optionee), hereunder, shall be borne solely by the
            Optionee. The Company and/or its Affiliates, and/or the Trustee
            shall withhold taxes according to the requirements under the
            applicable laws, rules, and regulations, including withholding taxes
            at source. Furthermore, the Optionee shall agree to indemnify the
            Company and/or its Affiliates and/or the Trustee and hold them
            harmless against and from any and all liability for any such tax or
            interest or penalty thereon, including without limitation,
            liabilities relating to the necessity to withhold, or to have
            withheld, any such tax from any payment made to the Optionee.

                                     - 5 -
<PAGE>

      11.2  The Company and/or, when applicable, the Trustee shall not be
            required to release any share certificate to an Optionee until all
            required payments have been fully made.

      11.3  With respect to an Unapproved 102 Option, if the Optionee ceases to
            be employed by the Company or any Affiliate, the Optionee shall
            extend to the Company and/or its Affiliate a security or guarantee
            for the payment of tax due at the time of sale of Shares, all in
            accordance with the provisions of Section 102 and the rules,
            regulation or orders promulgated thereunder.

12.   GOVERNING LAW & JURISDICTION

      This Appendix shall be governed by and construed and enforced in
      accordance with the laws of the State of Israel applicable to contracts
      made and to be performed therein, without giving effect to the principles
      of conflict of laws. The competent courts of Tel-Aviv, Israel shall have
      sole jurisdiction in any matters pertaining to this Appendix.

                                      * * *

                                      - 6 -EMPLOYMENT AGREEMENT

      THIS AGREEMENT is entered into as of the 30 day of November, 2004, by and
between ZONE4PLAY LTD., a company incorporated under the laws of the State of
Israel and maintaining its principal place of business at 3B Hashlosha Street,
Tel Aviv, 67060 Israel (the "COMPANY") and Idan Miller, Israeli I.D. number
028771749, residing at 10 Friedman St. Tel Aviv, Israel (the "EXECUTIVE").

WHEREAS:  The Company is in the business of developing, on a contractual basis,
          casino game applications for internet, portable devices and
          interactive TV platforms; and

WHEREAS:  The Company desires to employ the Executive as the Senior Vice
          President of Marketing and sales of the Company, who in the scope of
          his duties will be in charge of the activities listing in appendix A,
          and the Executive represents that he has the requisite skill and
          knowledge to serve as the Senior Vice President of Marketing and sales
          of the Company subject to the terms and conditions contained herein
          and he 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 agrees to employ the Executive and the Executive agrees
            to be employed by the Company on the terms and conditions set out in
            this Agreement.

      (b)   The Executive shall be employed as Vice President for marketing and
            sales of the Company. The Executive shall perform the duties,
            undertake the responsibilities and exercise the authority
            customarily performed, undertaken and exercised by persons situated
            in a similar capacity, subject to the direction of the Chief
            Executive Officer (the "CEO"). The Executive shall report regularly
            to the CEO with respect to his activities. The employee will
            dedicate at least 186 monthly hours to the fulfillment of his
            obligations under this agreement.

      (c)   Excluding periods of vacation, sick leave and military reserve
            service to which the Executive is entitled or required, the
            Executive agrees to devote his full working time and attention to
            the business and affairs of the Company and its subsidiaries as
            required to discharging the responsibilities assigned to the
            Executive hereunder. During the term of this Agreement, the
            Executive shall not be engaged in any other employment nor engage
            actively in any other business activities or in any other activities
            which may hinder his performance hereunder, with or without
            compensation, for any other person, firm or company without the
            prior written consent of the Company.

      (d)   This Agreement is a personal services agreement governing the
            employment relationship between the parties hereto. This Agreement
            shall not be subject to any general or special collective employment
            agreement relating to executives in any trade or position that is
            the same or similar to the Executive's, unless specifically provided
            herein.

<PAGE>
                                       2

      (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

      (a)   The Company agrees to pay to the Executive As of September 1, 2004
            Agreement a gross salary of 20,000 New Israeli Shekels ("NIS") per
            month (the "BASE SALARY").

      (b)   The Base Salary shall be payable monthly in arrears, no later than
            the 10th day of each month. and will be payable subject to the
            attendance card.

      (c)   Both parties agree that the next salary review will be done by May
            1st 2005.

      In addition to the Base Salary, the Executive shall also 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
            16 working days per year. Vacation may be accumulated for a maximum
            of 3 years.

      (c)   Convalescence Payments. The Executive shall be entitled to annual
            payments for convalescence in an amount equal to the amount required
            by law linked to the cost of living on the date of this Agreement.

      (d)   Vehicle. For the purpose of performing his duties under this
            Agreement, the Company shall furnish the Executive with a Company
            owned/leased vehicle. The Company will bear all expenses related to
            the vehicle maintenance and operation, including licensing,
            insurance, fuel (up to NIS 800 per month for fuel expenses.) and
            maintenance fees. The Company will withhold the taxes required by
            law out of the Executive's salary in accordance with the type of
            vehicle he is furnished with. The Executive shall operate the
            vehicle with due care and diligence and in accordance with the
            Company's then current regulations and practices. The Executive
            shall also bear any costs and expenses due to parking tickets
            incurred during his use of the vehicle. In addition, the Executive
            shall be required to bear the cost of any deductible amount under
            the applicable insurance policy with respect to the vehicle, in the
            event of submission of an insurance claim under such policy. In no
            event will the Executive be entitled to retain or withhold the
            vehicle in connection with a claim against the Company.

<PAGE>
                                       3

      (e)   Manager's Insurance Policy. The Company shall insure the Executive
            under an accepted "Manager's Insurance Scheme" ("Bituach Menahalim")
            as shall be customary with the Company and/or a comprehensive
            financial arrangement, at the Company's discretion, including
            insurance in the event of illness of loss of capacity for work
            (hereinafter referred to as the "MANAGERS INSURANCE") as follows;
            (i) the Company shall pay an amount equal to 5% of the Executive's
            Base Salary towards the Managers Insurance in respect of pension and
            life insurance for the Executive's benefit, and shall deduct 5% from
            the Executive's Base Salary and pay such amount towards the Managers
            Insurance for the Executive's benefits; (ii) the Company shall pay
            an amount up to 2.5% of the Executive's Base Salary towards
            disability insurance; and (iii) the Company shall pay an amount
            equal to 8 1/3 % of the Executive's Base s Salary towards a fund for
            severance compensation. Should the provisions made for severance pay
            fail to cover the amount due by the Company to Executive in
            accordance with the law, then the Company shall pay Executive the
            difference, all in accordance with applicable said Israeli law.

      (f)   Education Fund. Beginning on November 1st 2004, the Company and the
            Executive shall open and maintain an Education Fund ("Keren
            Hishtalmut") ("EDUCATIONAL FUND"), as customary with the Company,
            recognized as such by the Israeli tax authorities. The Company shall
            contribute to such Education Fund, which shall be maintained in the
            name of the Executive, the full amount equal to 7.5% of each monthly
            Base Salary payment. The Executive shall contribute to the
            Educational Fund the full amount equal to 2.5% of each monthly Base
            Salary payment.

      (g)   Business Expenses. The Company will reimburse Executive for any
            documented, out-of-pocket expenses from time to time properly
            incurred by Executive in connection with his employment by Company.

      (h)   Cellular Phone. The Company shall provide to the Executive a
            cellular telephone, at the Company's sole cost and expense. The
            company will bear expenses related to the Cellular Phone up to NIS
            300 per month, excluding working telephone calls. The phone bill of
            executive will be checked once a month. The company will take into
            consideration the executive position and special phone usage needs
            given the high frequency of the travel out of the country. Upon
            termination of employment of the Executive by the Company or
            termination of employment by the Executive, under circumstances
            entitling the Executive to severance payments under the law, the
            Executive shall be entitled to continued use of the cellular phone
            until the end of the Notice Period.

      (h) Sales commissions. Executive will be entitled to a quarterly sales
      commission based on the quarter revenues of the Company. Within Ninety
      (90) days of the end of each quarter as of first quarter of 2005, the
      Company will pay Executive an amount equal to 0.6% of the Company's
      quarter gross revenues (including 100% of the revenues of MiX TV). The
      commission for 2006 will be calculated in excess of 1.25 million $US per
      quarter or the 2005's gross revenues (the lower of the two).This
      sub-section shall be effective and binding upon the Company throughout the
      term of this Agreement and for an additional period of 12 months
      thereafter.

(i)   Reserve Military Service. The Executive shall be entitled to payment of
      his Full Salary for periods in which the Executive is called for reserve
      military service, provided that the Executive obtains for the Company
      approval to receive the payments due from the Social Security Institute.

<PAGE>
                                       4

(j)   Tax Withholding. All of the amounts stated in this Agreement are gross
      amounts and the Company shall withhold the appropriate amounts for income
      tax purposes as required by law.

(l)   Options. The Company will grant the Executive an option to purchase the
      number of ordinary shares (the "Shares") of the Company set forth below
      (the "Options"), out of the Company's authorized capital, at the
      respective Purchase Prices set forth below, on the terms and subject to
      the conditions hereinafter provided:

            1. An Option to purchase 200,000 Shares of Zone4Play Inc. at a
            purchase price per Share of US$ 0.55 (reflecting a discount of 15%
            of the price per share on May 1st, the first working day of the
            executive). The Option will be subject to the following vesting
            periods:

                  1/8 of such Shares will vest on July 1st 2004

                  1/8 of such Shares will vest on October 1st 2004

                  1/8 of such Shares will vest on January 1st 2005

                  1/8 of such Shares will vest on April 1st 2005

                  1/8 of such Shares will vest on July 1st 2005

                  1/8 of such Shares will vest on October 1st 2005

                  1/8 of such Shares will vest on January 1st 2006

                  1/8 of such Shares will vest on April. 1st 2006

            In case that Zone4Play inc. will be sold or merged within the
            vesting period, all the options will be immediately fully vested.

            2. If Zone4Play Inc's gross revenues exceed $5 million during the
            calendar year 2005, a fully vested Option to purchase 90,000
            Zone4Play Inc. Shares at a purchase price per Share reflecting fair
            market value at the day of the grant.

                  2.1 If Zone4Play Inc's gross revenues exceed $6 million during
                  the calendar year 2005, a fully vested Option to purchase
                  additional 18,000 Zone4Play Inc. Shares at a purchase price
                  per Share reflecting fair market value at the day of the
                  grant.

                  2.2 If Zone4Play Inc's gross revenues exceed $7 million during
                  the calendar year 2005, a fully vested Option to purchase
                  additional 18,000 Zone4Play Inc. Shares at a purchase price
                  per Share reflecting fair market value at the day of the
                  grant.

                  2.3 If Zone4Play Inc's gross revenues exceed $8 million during
                  the calendar year 2005, a fully vested Option to purchase
                  additional 18,000 Zone4Play Inc. Shares at a purchase price
                  per Share reflecting fair market value at the day of the
                  grant.

                  2.4 If Zone4Play Inc's gross revenues exceed $9 million during
                  the calendar year 2005, a fully vested Option to purchase
                  additional 18,000 Zone4Play Inc. Shares at a purchase price
                  per Share reflecting fair market value at the day of the
                  grant.

<PAGE>
                                       5

                  2.5 If Zone4Play Inc's gross revenues exceed $10 million
                  during the calendar year 2005, a fully vested Option to
                  purchase additional 18,000 Zone4Play Inc. Shares at a purchase
                  price per Share reflecting fair market value at the day of the
                  grant.

            In the case that Zone4Play Inc. will be sold or merged based on $100
            Million valuation and above before March 31st 2006, The Executive
            will be entitled to the 180,000 options to purchase Zone4Play Inc.
            Shares (as described in section 2.1-2.5 ) at a purchase price per
            Share reflecting fair market value at the day of the grant,
            regardless of the gross revenues during 2005.

            3. In addition to section (2) above, if Zone4Play Inc's gross
            revenues exceed $10 million during the calendar year 2006, a fully
            vested Option to purchase 90,000 Zone4Play Inc Shares with a
            purchase price of per Share reflecting fair market value at the day
            of the grant.

                  3.1 If Zone4Play Inc's gross revenues exceed $12 million
                  during the calendar year 2006, a fully vested Option to
                  purchase additional 18,000 Zone4Play Inc. Shares at a purchase
                  price per Share reflecting fair market value at the day of the
                  grant

                  3.2 If Zone4Play Inc's gross revenues exceed $14 million
                  during the calendar year 2006, a fully vested Option to
                  purchase additional 18,000 Zone4Play Inc. Shares at a purchase
                  price per Share reflecting fair market value at the day of the
                  grant

                  3.3 If Zone4Play Inc's gross revenues exceed $16 million
                  during the calendar year 2006, a fully vested Option to
                  purchase additional 18,000 Zone4Play Inc. Shares at a purchase
                  price per Share reflecting fair market value at the day of the
                  grant

                  3.4 If Zone4Play Inc's gross revenues exceed $18 million
                  during the calendar year 2006, a fully vested Option to
                  purchase additional 18,000 Zone4Play Inc. Shares at a purchase
                  price per Share reflecting fair market value at the day of the
                  grant

                  3.5 If Zone4Play Inc's gross revenues exceed $20 million
                  during the calendar year 2006, a fully vested Option to
                  purchase additional 18,000 Zone4Play Inc. Shares at a purchase
                  price per Share reflecting fair market value at the day of the
                  grant

      In the case that Zone4Play Inc. will be sold or merged based on $200
      Million valuation and above before March 31st 2007, The Executive will be
      entitled to the 180,000 options to purchase Zone4Play Inc. Shares (as
      described in section 3.1-3.5 ) at a purchase price per Share reflecting
      fair market value at the day of the grant, regardless of the gross
      revenues during 2006.

<PAGE>
                                       6

4.    TERMINATION

      (a)   Either party may terminate this Agreement and the employee-employer
            relationship between the Executive and the Company at any time upon
            thirty (30) days (the "NOTICE PERIOD") written notice to the other
            party specifying the effective date of termination (the "TERMINATION
            DATE").

      (b)   During such Notice Period following termination of this Agreement by
            the Company, the Executive shall be entitled to compensation
            pursuant to Section 2 and to all of the benefits set forth in
            Section 3. During such Notice Period following termination of this
            Agreement by the Executive, the Executive shall be entitled to
            compensation pursuant to Section 2.

      (c)   During the Notice Period, the Executive shall transfer his position
            to his 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 his possession
            at such time.

5.    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
                  products or services of the Company or its subsidiaries,
                  including those products or services contemplated in a plan
                  adopted by the Board of Directors of the Company or its
                  subsidiaries (a "COMPETING BUSINESS");

            (ii)  Act as a consultant or executive or officer or in any
                  managerial capacity in a Competing Business or supply in
                  competition with the Company or its subsidiaries services
                  ("RESTRICTED SERVICES") to any person who, to his knowledge,
                  was provided with services by the Company or its subsidiaries
                  any time during the six (6) months immediately prior to the
                  Termination Date;

            (iii) Solicit, canvass or approach or endeavor to solicit, canvass
                  or approach any person who, to his knowledge, was provided
                  with services by the Company or its subsidiaries at any time
                  during the six (6) months immediately prior to the Termination
                  Date, for the purpose of offering Restricted Services or
                  products which compete with the products supplied by the
                  Company or its subsidiaries at the Termination Date; 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 six (6) 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.

6.    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.

<PAGE>
                                       7

      The initial addresses of the parties for purposes of this Agreement shall
      be as follows:

      The Company:             3B Hashlosha Street, Tel Aviv, 67060 Israel

      The Executive:           10 Friedman Street, Tel Aviv

7.    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.

      (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 is
            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 5 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.

<PAGE>
                                       8

(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.

      8.    ENTIRE AGREEMENT

            This Agreement constitutes the complete and exclusive agreement
            between the Parties with respect to the subject matter hereof,
            superseding and replacing any and all prior or contemporaneous
            agreements, communications, and understandings, both written and
            oral, regarding such subject matter. This Agreement may be amended
            only by a written document signed by authorized representatives of
            both Parties.

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

ZONE4PLAY LTD.                         MR. IDAN MILLER

/S/ SHIMON CITRON                      /S/ IDAN MILLER
--------------------------------       ----------------------------------
BY: SHIMON CITRON

TITLE: CHIEF EXECUTIVE OFFICER

<PAGE>
                                       9

APPENDIX A - THE EXECUTIVE ROLE DEFINITION

As the Senior Vice President of Marketing and sales of the Company, Mr. Idan
Miller will be responsible for the following areas:

      o     All MARKETING ACTIVITIES, including Marketing writing, tradeshows,
            proposals, brochures, website, PRs etc.

      o     All SALES ACTIVITIES, including the daily operation of all
            prospects, managing of all the company's agent and marketing and
            sales advisors around the world, operation of the current customer
            base of the company etc.

      o     All BUSINESS DEVELOPMENT ACTIVITIES, including research activities,
            the development of new markets for the company, new initiatives of
            the company, new acquisitions etc.

      o     Managing all business development and Marketing PERSONAL (including
            VP business development of the company), advisors, agents and any
            other distribution channel of the company, all agents who operates
            in the company's name, IR and PR firms etc.

      o     Co Handle the daily operation the PR AND IR activities with the
            company's CFO, including press releases, Company profile and
            presentations, IR Kit etc.

      o     In charge of the STRATEGIC PLANNING for the Company and the on going
            operation of such planning

As the Senior Vice President of Marketing and sales of the Company, Mr. Idan
Miller will not be involved (unless a direct request from the company's CEO) in
the following areas:

      o     Any new financial round

      o     IPO or secondary rounds

      o     Israeli PR

REPORTS ISSUES:

      o     Mr. Miller reports to the company's CEO

      o     All business development and Marketing PERSONAL (including VP
            business development) reports solely to Mr. Miller.

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00075-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00075-of-00352.parquet"}]]