SEC Contract Filing

Filing Date: 2015-11-25

Document Content:
<DOCUMENT>
<TYPE>EX-10.5
<SEQUENCE>3
<FILENAME>f10k2015ex10v_oramed.htm
<DESCRIPTION>AMENDMENT, DATED JULY 21, 2015, TO CONSULTING AGREEMENTS BY AND BETWEEN ORAMED LTD. AND KNRY, LTD.
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><U>Exhibit
10.5</U></FONT></P>

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<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B><U>AGREEMENT
AND AMENDMENT NO. 3</U></B></FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: left; text-indent: 0.5in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">This
AGREEMENT AND AMENDMENT NO. 3 (this &ldquo;Third Amendment&rdquo;) is made this 21 day of July, 2015 by and between <B>ORAMED
Ltd., </B>a company incorporated under the laws of the State of Israel, # 513976712 with an address at High-Tech Park 2/4, Givat
Ram, Jerusalem, Israel 93706 (the&nbsp;&ldquo;Company&rdquo;), and <B>KNRY</B>, <B>Ltd., </B>a company incorporated under the
laws of the State of Israel, # 513836502 with an address at 2 Elza Street, Jerusalem, Israel 93706<I> </I>(the &ldquo;<B>Consultant</B>&rdquo;).</FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in; text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">WHEREAS:</FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: left; text-indent: 0pt">A.<FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>The Company and the Consultant are parties to the Agreement dated as of July 1, 2008 (the &ldquo;Original Agreement&rdquo;),
as amended on July 17, 2013 (the &ldquo;First Amendment&rdquo;) and on November 13, 2013 (the &ldquo;Second Amendment&rdquo; and
together with the Original Agreement and the First Agreement - the &ldquo;Employment Agreement&rdquo;), for services to be provided
by Dr. Miriam Kidron Israeli I.D. number 9665993 (&ldquo;<B>Miriam</B>&rdquo;); and</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: left; text-indent: 0pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">B.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Company and the Consultant wish to amend the Employment<B> </B>Agreement to revise the terms of the Consultant compensation
thereunder.</FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: left; text-indent: 0.5in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">NOW,
THEREFORE, in consideration of the premises and the mutual covenants and agreements herein contained, the parties hereto covenant
and agree as follows:</FONT></P>

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<TD STYLE="width: 0%; padding-top: 0pt; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt; font: 10pt Times New Roman, Times, Serif"></TD><TD STYLE="width: 0.5in; padding-top: 0pt; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">1.</FONT></TD><TD STYLE="text-align: left; padding-top: 0pt; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><U>Amendment
 to Section 6</U>. Section 6 of the Original Agreement is hereby amended and restated
 in its entirety to read as follows:</FONT></TD></TR></TABLE>

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 <TD STYLE="width: 0.3in; padding-top: 0pt; padding-right: 0pt; font: normal 10pt Times New Roman, Times, Serif; text-align: justify; text-indent: 0pt; padding-left: 0pt">&ldquo;2.1</TD>
 <TD STYLE="font: normal 10pt Times New Roman, Times, Serif; padding-top: 0pt; padding-right: 0pt; text-align: left; text-indent: 0pt; padding-left: 0pt">Compensation.
 Effective from July 2015 (inclusive), the Company shall pay to the Consultant in consideration for the performance of the
 Consulting Services, a gross monthly amount of 63,600 + VAT (approximately $16,650) (the &ldquo;<B>Consideration</B>&rdquo;),
 subject to the receipt by the Company of an invoice from the Consultant.&nbsp;&nbsp;Each of the Consultant and Miriam hereby
 declares that neither of them has, nor shall have in the future, any claims or demands in r