This Agreement, dated November 19, 1999, by and between LAKARO BIOPHARMACEUTICALS, INC.
("Lakaro"), a Delaware corporation having an address at 216 Jaffa Rd., Sha'arei Ha'ir, Jerusalem, Israel 94383
and BOB TRACHTENBERG, an individual residing at Gidon 22, Jerusalem, Israel (the "Secretary")
WHEREAS, the Corporation desires to employ the Secretary as Secretary of Lakaro and the Secretary desires
to be employed by the Lakaro as Secretary of Lakaro, all pursuant to the terms and conditions hereinafter set
NOW THEREFORE, in consideration of the foregoing and the mutual promises and covenants herein contained,
it is agreed as follows:
1. EMPLOYMENT DUTIES
(a) Lakaro hereby engages and employs the Secretary, and the Secretary accepts engagement and employment,
as Secretary of Lakaro, to direct, supervise and have responsibilities for the corporate affairs of Lakaro and for
any other appropriate areas and tasks which the Board of Directors and/or the Chief Executive Officer may
assign to him. The Secretary acknowledges and agrees that the performance by the Secretary of his duties
hereunder may require significant domestic and international travel by the Secretary. In addition, the Secretary
realizes that he may be required to spend a substantial amount of time in Jerusalem, Israel.
(b) The Secretary shall devote substantially all of his gainful time to the discharge of his duties and responsibilities
under this Agreement.
The Secretary's employment hereunder shall be for a term of three (3) years commencing on the Effective Date
and continuing through the third anniversary of the Effective Date (the "Initial Term"), with successive one-year
renewals thereafter (the "Renewal Terms") unless sooner terminated as hereinafter provided, or by notice of
either party not less than 90 days prior to the expiration of each term.
(a) As compensation for the performance of his duties on behalf of Lakaro, the Secretar