Made and entered in Tel-Aviv, on of 1998
Multimedia K.I.D - Intelligence in Education Ltd.
Now therefore, the parties hereby agree and stipulate following:
1. The preamble to this agreement constitutes an integral part thereof.
The Articles headings are for convenience reasons only, and are not to be used for the purpose of the
interpretation of this agreement.
2. The company hereby appoints the Employee as the managing director of the company.
Of 23 Haluzat Hapardesanut Street
("THE COMPANY") ON THE ONE PART
Mr. Pessie Goldenberg
of 12 Pika Street, Petah Tikva
("THE EMPLOYEE" ) ON THE OTHER PART
WHEREAS: The employee is a shareholder and a director of the company, and,
WHEREAS: The company wishes to employ the employee as its managing
director, and the Employee wishes to be employed in that capacity,
WHEREAS: The parties wish to set forth the terms and conditions of the
Employee's employment by the company,
3. It is hereby agreed that the Employee's obligations towards the company shall be, inter alia, as following:
3.1 To carry out his duties in accordance with the general guidelines he shall receive from the company's Board
of Directors ("THE BOARD") from time to time, and to devote all his time, efforts and attention to the
performance of his duties.
3.2 To serve the company in a loyal and integral manner and to his utmost in order to represent the company's
3.3 Not to accept any other position as an employee of any third party, regardless of the compensation he may
or may not receive from said third party, without the company's written consent.
4. This agreement is a personal and specific agreement, that sets up the relations between the Employee and the
company, and exclusively defines the terms of