Made and entered in Tel-Aviv, on 13 of June 2000
MULTIMEDIA K.I.D - INTELLIGENCE IN EDUCATION LTD.
Of 23 Haluzat hapardesanut Street
Now therefore, the parties hereby agree and stipulate as following:
1.1. The preamble to this agreement constitutes an integral part thereof.
1.2. The Articles headings are for convenience reasons only, and are not to be used for the purpose of the
interpretation of this agreement.
2. EMPLOYEE'S UNDERTAKINGS
2.1. It is hereby agreed that the Employee's obligations towards the company shall be, inter alia, as following:
("THE COMPANY") ON THE ONE PART
68 Dan Street
("THE EMPLOYEE" ) ON THE OTHER PART
WHEREAS: The employee is a senior executive, experienced and knowledgeable
in the management of large scale companies,
Whereas: The Employee declares that he has the ability and know-how required
in order to suitably function as the company's Chief Executive
Officer (CEO) and President, and
WHEREAS: The company wishes to employ the employee in that capacity, and
the Employee wishes to be employed by the company in that capacity,
Whereas: The parties wish to set forth the terms and conditions of the
Employee's employment by the company,
2.2. 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.
2.3. To serve the company in a loyal and integral manner and to do his utmost in order to represent the
company's best interests.
2.4. 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 writt