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<SEC-DOCUMENT>0000891092-07-002318.txt : 20070604
<SEC-HEADER>0000891092-07-002318.hdr.sgml : 20070604
<ACCEPTANCE-DATETIME>20070604164948
ACCESSION NUMBER:		0000891092-07-002318
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		3
CONFORMED PERIOD OF REPORT:	20070530
ITEM INFORMATION:		Entry into a Material Definitive Agreement
ITEM INFORMATION:		Departure of Directors or Principal Officers; Election of Directors; Appointment of Principal Officers
ITEM INFORMATION:		Financial Statements and Exhibits
FILED AS OF DATE:		20070604
DATE AS OF CHANGE:		20070604

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			Protalix BioTherapeutics, Inc.
		CENTRAL INDEX KEY:			0001006281
		STANDARD INDUSTRIAL CLASSIFICATION:	BIOLOGICAL PRODUCTS (NO DIAGNOSTIC SUBSTANCES) [2836]
		IRS NUMBER:				650643773
		STATE OF INCORPORATION:			FL
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		8-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-33357
		FILM NUMBER:		07898033

	BUSINESS ADDRESS:	
		STREET 1:		2 SNUNIT ST
		STREET 2:		SCIENCE PARK, POB 455
		CITY:			CARMIEL
		STATE:			L3
		ZIP:			21000
		BUSINESS PHONE:		972-4-988-9488

	MAIL ADDRESS:	
		STREET 1:		2 SNUNIT ST
		STREET 2:		SCIENCE PARK, POB 455
		CITY:			CARMIEL
		STATE:			L3
		ZIP:			21000

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	ORTHODONTIX INC
		DATE OF NAME CHANGE:	19980422

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	EMBASSY ACQUISITION CORP
		DATE OF NAME CHANGE:	19960124
</SEC-HEADER>
<DOCUMENT>
<TYPE>8-K
<SEQUENCE>1
<FILENAME>e27513_8k.htm
<DESCRIPTION>FORM 8-K
<TEXT>
<HTML>
<HEAD>
<TITLE></TITLE>
</HEAD>
<BODY>








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<P ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2><B>UNITED STATES
                                         <BR>SECURITIES AND EXCHANGE COMMISSION
                                               <BR>Washington, D.C. 20549 </B></FONT></P>

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<HR SIZE=1 noshade ALIGN=CENTER WIDTH=150>


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<P ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=3><B>FORM 8-K </B></FONT></P>

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<P ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=3><B>CURRENT REPORT </B></FONT></P>

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<P ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2><B>Pursuant to Section
13 or 15(d)                                        <BR>of the Securities Exchange Act of 1934 </B></FONT></P>

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<HR SIZE=1 noshade ALIGN=CENTER WIDTH=150>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Date of Report (Date of earliest
event reported):  May 30, 2007 </FONT></P>

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<P ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE="2"><B>Protalix
BioTherapeutics, Inc. <BR></B>(Exact name of registrant as
specified in its charter) </FONT> </P>

<!-- MARKER FORMAT-SHEET="8K 3 col" FSL="Workstation" -->
<TABLE WIDTH=100% cellpadding="0" cellspacing="0" border="0">
  <TR ALIGN="center" VALIGN=bottom>
    <TD WIDTH=30%><font size=2>Florida</font>
      <hr size="1" noshade width="95">
    </TD>
    <TD WIDTH=5%>&nbsp;</TD>
    <TD WIDTH=30%><font size=2>000-27836</font>
      <hr size="1" noshade width="95">
    </TD>
    <TD WIDTH=5%>&nbsp;</TD>
    <TD WIDTH=30%><font size=2>65-0643773</font>
      <hr size="1" noshade width="95">
    </TD>
  </TR>
  <TR ALIGN="center" VALIGN=top>
    <TD WIDTH=30%><FONT SIZE=2>

                                                             (State or other <br>
                jurisdiction of <br>

                                                         incorporation) </FONT></TD>
    <TD WIDTH=5%>&nbsp;&nbsp;</TD>
    <TD WIDTH=30%><FONT SIZE=2>
                                                  (Commission&nbsp; <br>
      File Number)
      </FONT></TD>
    <TD WIDTH=5%>&nbsp;&nbsp;</TD>
    <TD WIDTH=30%><FONT SIZE=2>&nbsp;
                                                 (IRS Employer <br>
      Identification No.)
      </FONT></TD>
  </TR>

</TABLE>


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<P ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE="2"><B>2 Snunit Street
<BR>
  Science Park
<BR>
  POB 455
<BR>
  Carmiel, Israel 21000</B></FONT>
<hr size="1" noshade width="300">
<div align="center"><FONT FACE="Times New Roman, Times, Serif" SIZE="2"><B>
  </B>(Address of principal executive offices) (Zip Code) </FONT> <!-- MARKER FORMAT-SHEET="Center no bold" FSL="Workstation" -->
</div>
<P ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2>__________________________________________________ <BR>
(Former Name or Former Address, if Changed Since Last Report) </FONT></P>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Registrant&#146;s telephone number,
including area code: +972-4-988-9488 </FONT></P>

<!-- MARKER FORMAT-SHEET="Para Flush 00" FSL="Workstation" -->
<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Check the appropriate box below if
the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the
registrant under any of the following provisions (see General Instruction A.2. below): </FONT></P>

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<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0>
<TR VALIGN=TOP>
<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>|_|  </FONT></TD>
<TD><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp; </FONT></TD>
<TD WIDTH=95%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Written
communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)  </FONT></TD>
</TR>
</TABLE>
<BR>

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<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0>
<TR VALIGN=TOP>
<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>|_|  </FONT></TD>
<TD><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp; </FONT></TD>
<TD WIDTH=95%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Soliciting
material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)  </FONT></TD>
</TR>
</TABLE>
<BR>

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<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0>
<TR VALIGN=TOP>
<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>|_|  </FONT></TD>
<TD><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp; </FONT></TD>
<TD WIDTH=95%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Pre-commencement
communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))  </FONT></TD>
</TR>
</TABLE>
<BR>

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<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0>
<TR VALIGN=TOP>
<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>|_|  </FONT></TD>
<TD><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp; </FONT></TD>
<TD WIDTH=95%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Pre-commencement
communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) </FONT></TD>
</TR>
</TABLE>
<BR>



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<BR>&nbsp;
<TABLE WIDTH=100%><TR><TD WIDTH=20% ALIGN=left><FONT SIZE=1>&nbsp;</FONT></TD><TD WIDTH=60% ALIGN=center><FONT SIZE="2">
</FONT></TD><TD WIDTH=20% ALIGN=right><FONT SIZE="1">&nbsp;</FONT></TD></TR></TABLE><HR SIZE=5 noshade WIDTH=100% ALIGN=LEFT>





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<P ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2><B>Item 1.01.  Entry into
a Material Definitive Agreement </B></FONT></P>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;On
May 31, 2007, Protalix BioTherapeutics, Inc. (the &#147;Company&#148;) entered into a Scientific
Advisory Board Agreement (the &#147;Agreement&#148;) with Ernest Beutler, M.D. In accordance with
the terms of the Agreement, Professor Beutler agreed to provide advisory services to the
Company, including consulting with the Company&#146;s management within his professional area
of expertise, exchanging strategic and business development ideas with the Company,
attending scientific, medical and business meetings with the Company&#146;s management, such
as meetings with the United States Food and Drug Administration and comparable foreign
regulatory authorities, meetings with strategic or potential strategic partners and other
meetings relevant to his area of expertise and attending meetings of the Company&#146;s
Scientific Advisory Board. The Agreement will remain in effect until terminated by either
Professor Beutler or the Company. </FONT></P>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pursuant
to the terms of the Agreement, Professor Beutler&#146;s compensation shall consist of an
annual cash fee equal to $18,000 payable in semi-annual installments and a grant of 8,000
restricted shares of common stock, par value $0.001 per share, of the Company, under the
Company&#146;s 2006 Stock Incentive Plan. The restricted shares shall vest over a period of
four years as follows: one fourth of the options will vest upon the one year anniversary
of the date of grant and the remainder shall vest on a monthly basis in 36 equal
installments. </FONT></P>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;On
June 4, 2007, the Company issued a press release announcing the appointment of Professor
Beutler to the Scientific Advisory Board, which is filed as Exhibit 99.1 to this report
and is incorporated herein by reference. </FONT></P>

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<P ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2><B>Item 5.02.  Departure
of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers;
Compensatory Arrangements of Certain Officers </B></FONT></P>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;On
May 30, 2007, Mr. Pinhas Barel Buchris, a member of the Company&#146;s Board of Directors,
delivered a resignation letter to the Board of Directors effective as of such date. Mr.
Buchris has explained to the Board of Directors that he has been appointed to serve as
the Director General of the Israeli Ministry of Defense and that, accordingly, he was
obligated to resign his position as a director of the Company. </FONT></P>

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<P ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2><B>Item 9.01.  Financial
Statements and Exhibits </B></FONT></P>

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<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0>
  <TR VALIGN=TOP>
    <TD WIDTH=5%><b><FONT FACE="Times New Roman, Times, Serif" SIZE=2>(d)  </FONT></b></TD>

    <TD><b><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp; </FONT></b></TD>

    <TD WIDTH=95%><b><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Exhibits </FONT></b></TD>
  </TR>
</TABLE>
<BR>

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<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0>
<TR VALIGN=TOP>
<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>10.1  </FONT></TD>
<TD><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp; </FONT></TD>
<TD WIDTH=95%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Scientific
Advisory Board Agreement dated as of May 31, 2007 by and between the Company and Ernest
         Beutler, M.D. </FONT></TD>
</TR>
</TABLE>
<BR>

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<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0>
<TR VALIGN=TOP>
<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>99.1  </FONT></TD>
<TD><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp; </FONT></TD>
<TD WIDTH=95%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Press
release dated June 4, 2007 </FONT></TD>
</TR>
</TABLE>
<BR>




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<BR>&nbsp;
<TABLE WIDTH=100%><TR><TD WIDTH=20% ALIGN=left><FONT SIZE=1>&nbsp;</FONT></TD><TD WIDTH=60% ALIGN=center><FONT SIZE="2">
2</FONT></TD><TD WIDTH=20% ALIGN=right><FONT SIZE="1">&nbsp;</FONT></TD></TR></TABLE><HR SIZE=5 noshade WIDTH=100% ALIGN=LEFT>





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<P ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2><B>SIGNATURES </B></FONT></P>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Pursuant to the requirements of the
Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed
on its behalf by the undersigned hereunto duly authorized. </FONT></P>


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<table width="100%" border="0" cellspacing="0" cellpadding="0">
  <tr>
    <td width="35%">&nbsp;</td>
    <td width="13%">&nbsp;&nbsp;</td>
    <td colspan="2" align="left" valign="top"><font face="Times New Roman, Times, Serif" size=2><b>PROTALIX BIOTHERAPEUTICS, INC.</b> <br>
                                                     (Registrant)</font></td>
  </tr>
  <tr>
    <td width="35%">&nbsp;</td>
    <td width="13%">&nbsp;</td>
    <td align="left" valign="top" width="4%">&nbsp;</td>
    <td align="left" valign="top" width="48%">&nbsp;</td>
  </tr>
  <tr>
    <td width="35%"><font face="Times New Roman, Times, Serif" size=2>Date: June 4, 2007</font></td>
    <td width="13%">&nbsp;</td>
    <td align="left" valign="top" width="4%"><font face="Times New Roman, Times, Serif" size=2>By:</font></td>
    <td align="left" valign="top" width="48%"><font face="Times New Roman, Times, Serif" size=2>/s/ David Aviezer</font>
      <hr size="1" noshade align="left" width="150">
    </td>
  </tr>
  <tr>
    <td width="35%">&nbsp;</td>
    <td width="13%">&nbsp;</td>
    <td align="left" valign="top" width="4%"><font face="Times New Roman, Times, Serif" size=2>Name:</font></td>
    <td align="left" valign="top" width="48%"><font face="Times New Roman, Times, Serif" size=2>David Aviezer, Ph.D.</font>
</td>
  </tr>
  <tr>
    <td width="35%">&nbsp;</td>
    <td width="13%">&nbsp;</td>
    <td align="left" valign="top" width="4%"><font face="Times New Roman, Times, Serif" size=2>Title:</font></td>
    <td align="left" valign="top" width="48%">
      <p><font face="Times New Roman, Times, Serif" size=2>      President and <br>
        Chief Executive Officer </font></p>
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</td>
  </tr>
</table>
<P><!-- MARKER FORMAT-SHEET="Page Break CENTER" FSL="Workstation" -->
<BR>
  &nbsp;
</P>



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<DOCUMENT>
<TYPE>EX-10.1
<SEQUENCE>2
<FILENAME>e27513ex10_1.htm
<DESCRIPTION>SCIENTIFIC ADVISORY BOARD AGREEMENT
<TEXT>
<HTML>
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<!-- MARKER FORMAT-SHEET="Left Head 2 Bold" FSL="Workstation" -->
<P ALIGN=right><FONT FACE="Times New Roman, Times, Serif" SIZE=2><B>Exhibit 10.1 </B></FONT></P>





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<P ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2><B>SCIENTIFIC ADVISORY
BOARD AGREEMENT </B></FONT></P>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE="2">This Scientific Advisory Board
Agreement (this &#147;<B>Agreement</B>&#148;), dated May 31, 2007 (the &#147;<B>Effective Date</B>&#148;), is by and
between Protalix BioTherapeutics, Inc., a Florida corporation (the &#147;<B>Company</B>&#148;), and Ernest
Beutler, M.D. (&#147;<B>Advisor</B>&#148;). </FONT> </P>

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<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0>
  <TR VALIGN=TOP>
    <TD WIDTH=5%><b><FONT FACE="Times New Roman, Times, Serif" SIZE=2>1.  </FONT></b></TD>

    <TD><b><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp; </FONT></b></TD>

    <TD WIDTH=95%><b><FONT FACE="Times New Roman, Times, Serif" SIZE=2>S<font size="1">ERVICES</font> </FONT></b></TD>
  </TR>
</TABLE>


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<P><FONT FACE="Times New Roman, Times, Serif" SIZE="2">Advisor shall provide advisory
services to the Company from time to time at the Company&#146;s request, which advisory
services shall include but not be limited to the following: consulting with the Company&#146;s
management within Advisor&#146;s professional area of expertise; exchanging strategic and
business development ideas with the Company; attending scientific, medical and business
meetings with the Company&#146;s management, such as meetings with the United States Food and
Drug Administration and comparable foreign regulatory authorities, meetings with
strategic or potential strategic partners and other meetings relevant to Advisor&#146;s area
of expertise; and attending meetings of the Company&#146;s Scientific Advisory Board;
provided, that Advisor shall provide the Company with at least six (6) working days of
advisory services per 12-month period (the &#147;<B>Services</B>&#148;). Advisor shall render to the
Company the services in a timely and professional manner consistent with industry
standards, in accordance with this Agreement. It is acknowledged that the Services shall
include attendance at meetings from time to time either in person or by video or
teleconference. Advisor may not subcontract or otherwise delegate its obligations under
this Agreement. Subject to compliance with Advisor&#146;s obligations hereunder, Advisor shall
retain the sole control and discretion to determine the methods by which Advisor performs
the Services and the places at which, the equipment and supplies with which and the hours
during which such Services are to be rendered. </FONT> </P>

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  <TR VALIGN=TOP>
    <TD WIDTH=5%><b><FONT FACE="Times New Roman, Times, Serif" SIZE=2>2.  </FONT></b></TD>

    <TD><b><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp; </FONT></b></TD>

    <TD WIDTH=95%><b><FONT FACE="Times New Roman, Times, Serif" SIZE=2>P<font size="1">AYMENTS </font></FONT></b></TD>
  </TR>
</TABLE>


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<P><FONT FACE="Times New Roman, Times, Serif" SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>2.1
Compensation</B>. In consideration of the Services to be rendered in connection with this
Agreement, Advisor shall be paid $18,000 per annum, payable in two, semi-annual
installments. </FONT> </P>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>2.2
Restricted Stock Grant</B>. Subject to the approval by the Board of Directors of the Company,
the Advisor will receive a grant of 8,000 shares of restricted common stock of the
Company under the Company&#146;s 2006 Stock Incentive Plan (the &#147;<B>Plan</B>&#148;) to be set forth in a
Restricted Stock Award Agreement (the &#147;<B>Award Agreement</B>&#148;). The restricted shares will vest
over a four-year period as follows: 25% of the shares shall vest on the first anniversary
of the date of grant, and the remaining 75% of the shares shall vest in 36 equal, monthly
increments thereafter. Advisor acknowledges that until the Board of Directors of the
Company resolves to grant such shares of restricted stock, no grant shall be in effect
nor shall the Company be obligated or bound to grant such shares of restricted stock.
Advisor further acknowledges that the vesting of the restricted shares shall cease upon
the date of termination of Advisor&#146;s Continuous Service (as defined in the Plan) for any
reason. In the event this Agreement or Advisor&#146;s Continuous Service is terminated for any
reason any restricted shares held by Advisor immediately following such termination of
Continuous Service shall be deemed reconveyed to the Company and the Company shall
thereafter be the legal and beneficial owner of the restricted shares and shall have all
rights and interest in or related thereto without further action by Advisor. </FONT> </P>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>2.3
Expenses</B>. The Company shall reimburse Advisor for reasonable travel and other business
expenses that are incurred by Advisor in the performance of the Services and are approved
in advance by the Company, in accordance with the Company&#146;s general policies, as may be
amended from time to time. Advisor shall provide the Company with an itemized list of all
such expenses and supporting receipts with each invoice therefor. </FONT> </P>






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<P><FONT FACE="Times New Roman, Times, Serif" SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>2.4
Taxes</B>. Advisor acknowledges and agrees that it shall be Advisor&#146;s obligation to report as
income all compensation received by Advisor pursuant to this Agreement and to pay any
withholding taxes, self-employment taxes, and social security, unemployment or disability
insurance or similar items, including interest and penalties thereon, in connection with
any payments made to Advisor by the Company pursuant to this Agreement. Advisor agrees to
indemnify, hold harmless and, at the Company&#146;s discretion, defend the Company against any
and all liability related thereto, including, without limitation, any taxes, penalties
and interest the Company may be required to pay as a result of Advisor&#146;s failure to
report such compensation or make such payments. </FONT> </P>

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<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0>
  <TR VALIGN=TOP>
    <TD WIDTH=5%><b><FONT FACE="Times New Roman, Times, Serif" SIZE=2>3.  </FONT></b></TD>

    <TD><b><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp; </FONT></b></TD>

    <TD WIDTH=95%><b><FONT FACE="Times New Roman, Times, Serif" SIZE=2>P<font size="1">ROPRIETARY</font>
I<font size="1">NFORMATION </font></FONT></b></TD>
  </TR>
</TABLE>


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<P><FONT FACE="Times New Roman, Times, Serif" SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>3.1
Proprietary Information</B>. Advisor understands that its work for the Company will involve
access to and creation of confidential, proprietary and trade secret information and
materials of the Company (or its affiliates, licensors, suppliers, vendors or
collaborators) (collectively, &#147;<B>Proprietary Information</B>&#148;). Proprietary Information
includes, without limitation: any (a) tangible chemical, biological and physical research
materials provided by the Company to Advisor and any such materials developed by Advisor
in connection with the performance of the Services, information, ideas or materials of a
technical or creative nature, such as research and development progress and results,
products and proposed products, designs and specifications, computer source and object
code, patent applications, and other materials and concepts relating to the Company&#146;s
products, services, processes, technology or other intellectual property rights; (b)
information, ideas or materials of a business nature, such as non-public financial
information; information regarding profits, costs, marketing, purchasing, sales,
collaborators, suppliers, contract terms, employees and salaries; product development
plans; business and financial plans and forecasts; and marketing and sales plans and
forecasts; (c) all personal property, including, without limitation, all books, manuals,
records, reports, notes, contracts, lists, blueprints and other documents or materials,
or copies thereof, received by Advisor in the course of Advisor&#146;s rendering of Services
to the Company, including, without limitation, records and any other materials pertaining
to Inventions (as defined below); and (d) the terms and conditions of this Agreement. </FONT> </P>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>3.2
Restrictions on Use and Disclosure</B>. Advisor understands that Proprietary Information is
extremely valuable to the Company and its affiliates, licensors, suppliers, vendors and
collaborators. Accordingly, Advisor agrees during the term of this Agreement and
thereafter that it: (a) shall hold all Proprietary Information in confidence and trust
for the benefit of the Company; (b) shall reveal Proprietary Information only to such of
its employees, contractors, agents, consultants, representatives or affiliates
(&#147;<B>Representatives</B>&#148;) who need to know the Proprietary Information for the purpose of
Advisor&#146;s performance of the Services, who are informed by Advisor of the confidential
nature of the Proprietary Information and who shall agree in writing to act in accordance
with the terms and conditions of this letter agreement; (c) shall not copy or use (or
allow any of its Representatives to copy or use) any Proprietary Information, except as
may be necessary to perform the Services; (d) shall use the Proprietary Information only
for the benefit of the Company (and not for the benefit of Advisor or any third party);
and (e) shall not disclose or otherwise make available any such Proprietary Information
to any third party except as authorized in writing and in advance by the Company. All
Proprietary Information is and shall remain the sole property of the Company. </FONT> </P>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>3.3
Exclusions</B>. The foregoing restrictions on use and disclosure shall not apply to any
Proprietary Information to the extent Advisor can prove such Proprietary Information: (a)
is or has become generally known to the public through no unlawful act of Advisor; (b)
was known to Advisor at </FONT> </P>






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<!-- MARKER FORMAT-SHEET="Para Flush 00" FSL="Workstation" -->
<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>the time of its disclosure by the
Company, as evidenced by Advisor&#146;s written records; (c) was independently developed by
Advisor without any use of the Proprietary Information, as evidenced by Advisor&#146;s written
records; (d) becomes known to Advisor from a source other than the Company without breach
of this Agreement and otherwise not in violation of the Company&#146;s rights, as evidenced by
Advisor&#146;s written records; (e) such disclosure is approved in advance and in writing by
the Company; or (f) Advisor is legally compelled to disclose such Proprietary
Information, provided that Advisor shall give advance notice of such compelled disclosure
to the Company, and shall cooperate with the Company in connection with any efforts to
prevent or limit the scope of such disclosure and/or use of the Proprietary Information. </FONT></P>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>3.4
Publications</B>. During the term of this Agreement and for a period of two (2) years
thereafter, Advisor agrees to submit to the Company for a period of at least thirty (30)
days (the &#147;<B>Review Period</B>&#148;) a copy of any proposed manuscript or other materials to be
published or otherwise publicly disclosed by Advisor (each a &#147;<B>Proposed Publication</B>&#148;)
which contains information derived, in whole or in part, from Services performed for the
Company in sufficient time to enable the Company to determine if patentable Inventions or
Proprietary Information would be disclosed. Nothing herein shall be construed to restrict
Advisor&#146;s right to publish material which does not contain Information. Following the
expiration of the Review Period, if the Company does not notify Advisor that the Proposed
Publication discloses patentable Inventions or Proprietary Information such Proposed
Publication shall be deemed to be approved by the Company for publication. In addition,
Advisor will cooperate with the Company in this respect and will delete from the
manuscript or other disclosure any proprietary Information if requested by the Companies
and will assist the Companies in filing for patent protection for any patentable
Inventions prior to publication or other disclosure. </FONT> </P>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>3.5
Disclosure of Relationship</B>. The parties each shall be entitled to disclose that Advisor
is serving on the Company&#146;s Scientific Advisory Board, including in any filing,
prospectus, press release, business plan, advertisement, or other offering document of
the Company or its affiliates; provided, that Advisor shall have the opportunity to
review and approve press releases relating to announcement of this Agreement and
developments in the business of the Company prior to release, with approval of such press
releases not to be unreasonably delayed or withheld. Notwithstanding the foregoing, the
Company shall not require the approval by Advisor of any governmental filing or press
release that in the opinion of the Company&#146;s counsel is required to be made. </FONT> </P>

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<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0>
  <TR VALIGN=TOP>
    <TD WIDTH=5%><b><FONT FACE="Times New Roman, Times, Serif" SIZE=2>4.  </FONT></b></TD>

    <TD><b><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp; </FONT></b></TD>

    <TD WIDTH=95%><b><FONT FACE="Times New Roman, Times, Serif" SIZE=2>C<font size="1">REATIONS </font></FONT></b></TD>
  </TR>
</TABLE>


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<P><FONT FACE="Times New Roman, Times, Serif" SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>4.1
Definition</B>. As used herein, &#147;<B>Inventions</B>&#148; shall include, without limitation, all designs,
know-how, trade secrets, copyrightable works, ideas, discoveries, creations, inventions,
innovations, technology, apparatus, techniques, methods, biological processes, cell
lines, laboratory notebooks and formulas (whether or not patentable or copyrightable or
constituting trade secrets) and other inventions, and any related work-in-progress,
improvements or modifications to the foregoing, that are created, developed or conceived
(alone or with others) in connection with Advisor&#146;s activities for the Company (a) during
the term of this Agreement, whether or not created, developed or conceived during regular
business hours, and (b) if based on Proprietary Information, after termination of this
Agreement. Inventions shall include, without limitation, all materials delivered to the
Company in connection with this Agreement. </FONT> </P>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>4.2
Assignment</B>. All Inventions shall be considered &#147;work made for hire&#148; (as such term is
defined in 17 U.S.C. &#167;101) and shall be the sole property of the Company, with the
Company having the </FONT> </P>







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3</FONT></TD><TD WIDTH=20% ALIGN=right><FONT SIZE="1">&nbsp;</FONT></TD></TR></TABLE><HR SIZE=5 noshade WIDTH=100% ALIGN=LEFT>







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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>right to obtain and hold in its own
name all intellectual property rights in and to such Inventions. To the extent that the
Inventions may not be considered &#147;work made for hire,&#148; Advisor hereby irrevocably assigns
and agrees to assign to the Company, without additional consideration, all right, title
and interest in and to all Inventions, whether currently existing or created or developed
later, including, without limitation, all copyrights, trademarks, trade secrets, patents,
industrial rights and all other intellectual property and proprietary rights related
thereto, whether existing now or in the future, effective immediately upon the inception,
conception, creation or development thereof. Advisor shall (a) disclose promptly to the
Company all Inventions and (b) whether during or after the period of its consulting
arrangement with the Company, execute such written instruments and do such other acts as
may be necessary in the opinion of the Company to obtain a patent, register a copyright
or otherwise evidence or enforce the Company&#146;s rights in and to such Inventions (and
Advisor hereby irrevocably appoints the Company and any of its officers as its attorney
in fact to undertake such acts in its name). </FONT></P>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>4.3
License</B>. To the extent, if any, that Advisor retains any right, title or interest in or
to any Inventions, Advisor hereby grants to the Company a perpetual, irrevocable, fully
paid-up, transferable, sublicensable, exclusive, worldwide right and license: (a) to use,
reproduce, distribute, display and perform (whether publicly or otherwise), prepare
derivative works of and otherwise modify, make, sell, offer to sell, import and otherwise
use and exploit (and have others exercise such rights on behalf of the Company) all or
any portion of such Inventions, in any form or media (now known or later developed); (b)
to modify all or any portion of such Inventions, including, without limitation, the
making of additions to or deletions from such Inventions, regardless of the medium (now
or hereafter known) into which such Inventions may be modified and regardless of the
effect of such modifications on the integrity of such Inventions; and (c) to identify
Advisor, or not to identify Advisor, as one or more authors of or contributors to such
Inventions or any portion thereof, whether or not such Inventions or any portion thereof
have been modified. Advisor further waives any &#147;moral&#148; rights or other rights with
respect to attribution of authorship or integrity of such Inventions Advisor may have
under any applicable law, whether under copyright, trademark, unfair competition,
defamation, right of privacy, contract, tort or other legal theory. </FONT> </P>

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<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0>
  <TR VALIGN=TOP>
    <TD WIDTH=5%><b><FONT FACE="Times New Roman, Times, Serif" SIZE=2>5.  </FONT></b></TD>

    <TD><b><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp; </FONT></b></TD>

    <TD WIDTH=95%><b><FONT FACE="Times New Roman, Times, Serif" SIZE=2>T<font size="1">ERM</font>
<font size="1">AND</font> T<font size="1">ERMINATION </font></FONT></b></TD>
  </TR>
</TABLE>


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<P><FONT FACE="Times New Roman, Times, Serif" SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>5.1
Term</B>. This Agreement shall commence on the Effective Date and remain in full force
and effect until terminated by Advisor or the Company. </FONT> </P>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>5.2
Termination</B>. Either party may terminate this Agreement at any time upon ten (10)
days&#146; prior written notice. </FONT> </P>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>5.3
Effect of Termination</B>. Upon termination of this Agreement, Advisor shall immediately
cease performing the Services. Sections 3 through 11 and the relevant portions of Section
12 shall survive any termination of this Agreement. Any termination of this Agreement
shall be deemed a termination of Advisor&#146;s Continuous Service under the Plan and for
purposes of the Award Agreement. </FONT> </P>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>5.4
Delivery of the Company Property</B>. Upon termination of this Agreement, or at any time the
Company so requests, Advisor shall deliver immediately to the Company all property
belonging to the Company, whether given to Advisor by the Company or prepared by Advisor
in the course of rendering the Services, including all Inventions then in progress and
all material in Advisor&#146;s possession containing Proprietary Information and any copies
thereof, whether prepared by Advisor or others. Following termination, Advisor shall not
retain any written or other tangible (including machine-readable) material containing any
Proprietary Information, except as provided for in Section 11. </FONT> </P>







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<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0>
  <TR VALIGN=TOP>
    <TD WIDTH=5%><b><FONT FACE="Times New Roman, Times, Serif" SIZE=2>6.  </FONT></b></TD>

    <TD><b><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp; </FONT></b></TD>

    <TD WIDTH=95%><b><FONT FACE="Times New Roman, Times, Serif" SIZE=2>B<font size="1">USINESS</font>
R<font size="1">ELATIONSHIPS </font></FONT></b></TD>
  </TR>
</TABLE>


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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Advisor acknowledges that the
Company&#146;s relationships with its employees, consultants, contractors, collaborators and
vendors are valuable business assets. Advisor agrees that, during the term of this
Agreement and for two (2) years thereafter, Advisor shall not (for itself or for any
third party) divert or attempt to divert from the Company any business, employee,
consultant, contractor, collaborator or vendor, through solicitation or otherwise,
without the prior written consent of the Company. </FONT></P>

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<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0>
  <TR VALIGN=TOP>
    <TD WIDTH=5%><b><FONT FACE="Times New Roman, Times, Serif" SIZE=2>7.  </FONT></b></TD>

    <TD><b><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp; </FONT></b></TD>

    <TD WIDTH=95%><b><FONT FACE="Times New Roman, Times, Serif" SIZE=2>C<font size="1">ONFIDENTIAL</font>
I<font size="1">NFORMATION OF</font> O<font size="1">THERS </font></FONT></b></TD>
  </TR>
</TABLE>


<!-- MARKER FORMAT-SHEET="Para Flush 00" FSL="Workstation" -->
<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Advisor shall not breach any
agreements to keep in confidence, or to refrain from using, the confidential, proprietary
or trade secret information of another client or employer. Advisor shall not provide to
the Company any information of another client or employer, in the Inventions or
otherwise, nor shall Advisor use any such information in its activities for the Company,
without the prior written consent of the Company and such other client or employer. </FONT></P>

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<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0>
  <TR VALIGN=TOP>
    <TD WIDTH=5%><b><FONT FACE="Times New Roman, Times, Serif" SIZE=2>8.  </FONT></b></TD>

    <TD><b><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp; </FONT></b></TD>

    <TD WIDTH=95%><b><FONT FACE="Times New Roman, Times, Serif" SIZE=2>W<font size="1">ARRANTIES</font>
<font size="1">AND</font> C<font size="1">OVENANTS </font></FONT></b></TD>
  </TR>
</TABLE>


<!-- MARKER FORMAT-SHEET="Para Flush 00" FSL="Workstation" -->
<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Advisor represents, warrants and
covenants that: (a) Advisor has the full power and authority to enter into this Agreement
and to perform its obligations hereunder, without the need for any consents, approvals or
immunities not yet obtained; (b) Advisor has the right to grant the rights and
assignments granted herein, without the need for any assignments, releases, consents,
approvals, immunities or other rights not yet obtained; (c) the Services, including,
without limitation, any deliverables required hereunder, shall be free from material
errors or other defects; (d) the Inventions (and the exercise of the rights granted
herein with respect thereto) do not and shall not infringe, misappropriate or violate any
patent, copyright, trademark, trade secret, publicity, privacy or other rights of any
third party, and are not and shall not be defamatory or obscene; (e) neither the
Inventions nor any element thereof shall be subject to any restrictions or to any
mortgages, liens, pledges, security interests, encumbrances or encroachments; and (f)
each of Advisor&#146;s employees and contractors (if any) involved in the development of the
Inventions have executed (or, prior to any such involvement shall execute) a written
agreement with Advisor in which such persons (i) assign to Advisor all right, title and
interest in and to the Inventions in order that Advisor may fully grant the rights to the
Company as provided herein and (ii) agree to be bound by confidentiality and
non-disclosure obligations equivalent to those set forth in this Agreement. The Company
hereby disclaims all warranties of any kind, whether express, implied, statutory or
otherwise, with respect to any Proprietary Information or other information or materials
supplied by the Company to Advisor hereunder, including, without limitation, any
warranties with respect to any specifications for the Inventions or other deliverables
required hereunder. </FONT></P>

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<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0>
  <TR VALIGN=TOP>
    <TD WIDTH=5%><b><FONT FACE="Times New Roman, Times, Serif" SIZE=2>9.  </FONT></b></TD>

    <TD><b><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp; </FONT></b></TD>

    <TD WIDTH=95%><b><FONT FACE="Times New Roman, Times, Serif" SIZE=2>I<font size="1">NDEMNIFICATION </font></FONT></b></TD>
  </TR>
</TABLE>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Advisor shall indemnify and hold
harmless, and at the Company&#146;s request defend, the Company and its affiliates, successors
and assigns (and their respective officers, directors, employees, sublicensees, Companies
and agents) from and against any and all claims, losses, liabilities, damages,
settlements, expenses and costs (including, without limitation, attorneys&#146; fees and court
costs) which arise out of or relate to: (a) any breach (or claim or threat thereof that,
if true, would be a breach) of this Agreement by Advisor, including, without limitation,
any breach or alleged breach of any representation, warranty or covenant of Advisor set
forth in Section 8; or (b) any third party claim or threat thereof that the Services or
Inventions (or the exercise of the rights granted herein with respect thereto) infringe,
misappropriate  </FONT></P>




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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>or violate any patent, copyright,
trademark, trade secret, publicity, privacy or other rights of any third party, or are
defamatory or obscene. </FONT></P>

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<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0>
  <TR VALIGN=TOP>
    <TD WIDTH=5%><b><FONT FACE="Times New Roman, Times, Serif" SIZE=2>10.  </FONT></b></TD>

    <TD><b><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp; </FONT></b></TD>

    <TD WIDTH=95%><b><FONT FACE="Times New Roman, Times, Serif" SIZE=2>L<font size="1">IMITATION</font>
<font size="1">OF</font> L<font size="1">IABILITY </font></FONT></b></TD>
  </TR>
</TABLE>

<!-- MARKER FORMAT-SHEET="Para Flush 00" FSL="Workstation" -->
<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>To the extent permitted by
applicable law: (a) in no event shall the Company be liable under any legal theory for
any special, indirect, consequential, exemplary or incidental damages, however caused,
arising out of or relating to this Agreement, even if the Company has been advised of the
possibility of such damages; and (b) in no event shall the Company&#146;s aggregate liability
arising out of or relating to this Agreement (regardless of the form of action giving
rise to such liability, whether in contract, tort or otherwise) exceed the fees payable
by the Company hereunder. </FONT></P>

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  <TR VALIGN=TOP>
    <TD WIDTH=5%><b><FONT FACE="Times New Roman, Times, Serif" SIZE=2>11.  </FONT></b></TD>

    <TD><b><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp; </FONT></b></TD>

    <TD WIDTH=95%><b><FONT FACE="Times New Roman, Times, Serif" SIZE=2>U<font size="1">NIFORM</font>
C<font size="1">ONSULTING</font> A<font size="1">GREEMENT </font></FONT></b></TD>
  </TR>
</TABLE>

<!-- MARKER FORMAT-SHEET="Para Flush 00" FSL="Workstation" -->
<P><FONT FACE="Times New Roman, Times, Serif" SIZE="2">The Company acknowledges that
Advisor is an employee of The Scripps Research Institute (&#147;<B>TSRI</B>&#148;) and is bound by TSRI&#146;s
Uniform Consulting Agreement Provisions (the &#147;<B>Provisions</B>&#148;), a copy of which is attached
hereto as Exhibit A. In the event that any term or condition of this Agreement conflicts
with any one or more Provisions, the Provisions shall govern. </FONT> </P>

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  <TR VALIGN=TOP>
    <TD WIDTH=5%><b><FONT FACE="Times New Roman, Times, Serif" SIZE=2>12.  </FONT></b></TD>

    <TD><b><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp; </FONT></b></TD>

    <TD WIDTH=95%><b><FONT FACE="Times New Roman, Times, Serif" SIZE=2>M<font size="1">ISCELLANEOUS </font></FONT></b></TD>
  </TR>
</TABLE>

<!-- MARKER FORMAT-SHEET="Para Indent 00" FSL="Workstation" -->
<P><FONT FACE="Times New Roman, Times, Serif" SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>12.1
Assignment</B>. Neither party shall assign, sell, transfer, delegate or otherwise dispose of,
whether voluntarily or involuntarily, by operation of law or otherwise, this Agreement or
any or its rights or obligations under this Agreement; provided, however, the Company may
assign, sell, transfer, delegate or otherwise dispose of this Agreement or any of its
rights and obligations hereunder as part of a merger, consolidation, corporate
reorganization, sale of all or substantially all of the Company&#146;s assets of the business
to which Advisor&#146;s services relate, sale of stock, change of name or like event. Any
purported assignment, sale, transfer, delegation or other disposition, except as
permitted herein, shall be null and void. Subject to the foregoing, this Agreement shall
be binding upon and shall inure to the benefit of the parties and their respective
successors and permitted assigns. </FONT> </P>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>12.2
Notices</B>. Any notice, request, demand or other communication required or permitted
hereunder shall be in writing, shall reference this Agreement and shall be deemed to be
properly given: (a) when delivered personally; (b) when sent by facsimile, with written
confirmation of receipt by the sending facsimile machine; (c) five (5) business days
after having been sent by registered or certified mail, return receipt requested, postage
prepaid; or (d) upon receipt for an express courier, with written confirmation of
receipt. All notices shall be sent to the address set forth on the signature page of this
Agreement and to the notice of the person executing this Agreement (or to such other
address or person as may be designated by a party by giving written notice to the other
party pursuant to this Section). </FONT> </P>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>12.3
Severability</B>. If any provision of this Agreement, or the application thereof to any
person, place or circumstance, shall be held by a court of competent jurisdiction to be
invalid, void or otherwise unenforceable, such provision shall be enforced to the maximum
extent possible so as to effect the intent of the parties, or, if incapable of such
enforcement, shall be deemed to be deleted from this Agreement, and the remainder of this
Agreement and such provisions as applied to other persons, places and circumstances shall
remain in full force and effect. </FONT> </P>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>12.4
Waiver</B>. The waiver by either party of a breach of or a default under any provision of
this Agreement shall not be effective unless in writing and shall not be construed as a
waiver of any </FONT> </P>



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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>subsequent breach of or default
under the same or any other provision of this Agreement, nor shall any delay or omission
on the part of either party to exercise or avail itself of any right or remedy that it
has or may have hereunder operate as a waiver of any such right or remedy. </FONT></P>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>12.5
Governing Law</B>. This Agreement is to be construed in accordance with and governed by the
internal laws of the State of New York without giving effect to any choice of law rule of
such State. </FONT> </P>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>12.6
Relationship of Parties</B>. This Agreement shall not be construed as creating an agency,
partnership, joint venture or any other form of association, for tax purposes or
otherwise, between the parties; and the parties shall at all times be and remain
independent contractors. Except as expressly agreed by the parties in writing, neither
party shall have any right or authority, express or implied, to assume or create any
obligation of any kind, or to make any representation or warranty, on behalf of the other
party or to bind the other party in any respect whatsoever. Neither party shall have any
obligation or duty to the other party except as expressly and specifically set forth
herein, and no such obligation or duty shall be implied by or inferred from this
Agreement or the conduct of the parties hereunder. Advisor (and its employees, agents and
contractors) shall not be entitled to any of the benefits that the Company may make
available to its employees, such as group health, life, disability or worker&#146;s
compensation insurance, profit-sharing or retirement benefits, and the Company shall not
withhold or make payments or contributions therefor or obtain such protection for Advisor
or its employees, contractors or agents. Advisor shall be solely responsible for all tax
returns and payments required to be filed with or made to any federal, state or local tax
authority with respect to Advisor&#146;s performance of services and receipt of fees under
this Agreement. </FONT> </P>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>12.7
Headings</B>. The headings used in this Agreement are for convenience only and shall not be
considered in construing or interpreting this Agreement. </FONT> </P>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>12.8
Entire Agreement</B>. This Agreement (including the Exhibits attached hereto, which are
incorporated herein by reference) is the final, complete and exclusive agreement of the
parties with respect to the subject matter hereof and supersedes and merges all prior or
contemporaneous proposals, discussions, negotiations, understandings, promises,
representations, conditions, communications and agreements, whether written or oral,
between the parties with respect to such subject matter and all past courses of dealing
or industry custom. </FONT> </P>




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<BR>&nbsp;
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<P><FONT FACE="Times New Roman, Times, Serif" SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>IN
WITNESS WHEREOF</B>, the parties have caused this Agreement to be executed and delivered as
of the Effective Date. </FONT> </P>

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<table width="100%" border="0" cellspacing="0" cellpadding="0">
  <tr>
    <td width="49%">&nbsp;&nbsp;&nbsp;</td>
    <td colspan="2" align="left" valign="top"><font face="Times New Roman, Times, Serif" size=2><b>ADVISOR:</b></font></td>
  </tr>
  <tr>
    <td width="49%">&nbsp;</td>
    <td align="left" valign="top" width="3%">&nbsp;</td>
    <td align="left" valign="top" width="48%">&nbsp;</td>
  </tr>
  <tr>
    <td width="49%">&nbsp;</td>
    <td colspan="2" align="left" valign="top"><font face="Times New Roman, Times, Serif" size=2>/s/ Ernest Beutler</font>
      <hr size="1" noshade align="left" width="250">
      <font face="Times New Roman, Times, Serif" size=2>
      Ernest Beutler M.D.</font></td>
  </tr>
  <tr>
    <td width="49%">&nbsp;</td>
    <td align="left" valign="top" width="3%">&nbsp;</td>
    <td align="left" valign="top" width="48%">&nbsp;</td>
  </tr>
  <tr>
    <td width="49%">&nbsp;</td>
    <td colspan="2" align="left" valign="top"><font face="Times New Roman, Times, Serif" size=2><b>PROTALIX BIOTHERAPEUTICS, INC.</b></font></td>
  </tr>
  <tr>
    <td width="49%">&nbsp;</td>
    <td align="left" valign="top" width="3%">&nbsp;</td>
    <td align="left" valign="top" width="48%">&nbsp;</td>
  </tr>
  <tr>
    <td width="49%">&nbsp;</td>
    <td align="left" valign="top" width="3%"><font face="Times New Roman, Times, Serif" size=2>By:</font></td>
    <td align="left" valign="top" width="48%"><font face="Times New Roman, Times, Serif" size=2>/s/ David Aviezer</font>
      <hr size="1" noshade align="left" width="250">
    </td>
  </tr>
  <tr>
    <td width="49%">&nbsp;</td>
    <td align="left" valign="top" width="3%">&nbsp;</td>
    <td align="left" valign="top" width="48%"><font face="Times New Roman, Times, Serif" size=2>Name: David Aviezer,
Ph.D. <br>
                                                                        Title:    &nbsp;&nbsp;President
and                                                                             Chief
Executive Officer</font></td>
  </tr>
</table>
<P><!-- MARKER FORMAT-SHEET="Page Break CENTER" FSL="Workstation" -->
<BR>
  &nbsp;
</P>





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<P ALIGN=right><FONT FACE="Times New Roman, Times, Serif" SIZE="2">Exhibit A </FONT> </P>

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<P ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2>THE SCRIPPS RESEARCH
INSTITUTE                                       <BR>UNIFORM CONSULTING AGREEMENT PROVISIONS </FONT></P>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>1. All arrangements and agreements
in which a member of the staff of The Scripps Research Institute (&#147;TSRI&#148;) provides
consulting services to any profit making or commercial organization (hereinafter referred
to as a &#147;Company&#148;) shall refer to these Uniform Consulting Agreement Provisions (&#147;Uniform
Provisions&#148;) by specific reference and attach same to the agreement or include same
verbatim in the agreement. If anything in an agreement to provide consulting services
between Company and a TSRI staff member (Consultant) is inconsistent with these Uniform
Provisions, these Uniform Provisions shall govern. No such agreement shall be of any
force or effect unless it is subject to these Uniform Provisions and is approved in
writing by TSRI&#146;s Office of Technology Development. </FONT></P>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>2. TSRI staff members shall spend no
more than a total of ten percent of their professional effort in consulting services for
all Companies. Consulting agreements shall specify the amount of time to be expended in
consulting for the Company. Consulting fees shall be paid directly to the Consultant.
Such consulting services shall not involve any research or laboratory work. </FONT></P>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>3. Neither the name nor reputation
of TSRI, Scripps Institutions for Medicine and Science (&#147;SIMS&#148;), or Scripps Health (&#147;SH&#148;)
shall be publicized or exploited directly or indirectly by the Company. The Company and
the Consultant shall hold TSRI, SIMS and SH and their officers, trustees, and employees
harmless from all claims, charges damages, and judgments arising from consulting services
and shall indemnify TSRI, SIMS and SH for costs, direct and indirect, of defending any
action arising from the consulting agreement or services performed thereunder. Neither
the Company nor the Consultant shall use any services, personnel, facilities or equipment
of TSRI in performing consulting services. </FONT></P>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>4. Consultant&#146;s rights, title and
interest in inventions, discoveries and developments arising from Company funded
consulting services made solely or jointly with Company employees or agents may be
assigned to the Company, so long as the provisions in Section 5 below are not applicable. </FONT></P>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>5. Company shall not obtain any
rights in or respecting any invention, discovery or development of the Consultant which:
(a) was conceived, reduced to practice, published, or submitted for publication, by the
Consultant before the effective date of the consulting agreement, (b) was at any time
conceived or reduced to practice independent of consulting services performed hereunder,
(c) is the result of work conducted within TSRI, (d) is subject to Consultant&#146;s
obligation to assign to TSRI, and/or (e) relates in any manner to the business of TSRI. </FONT></P>







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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>6. The Company shall have no rights
or interests in any of the inventions, discoveries, developments, improvements, or
products which may arise from the research or other scientific work performed by the
Consultant outside the scope of the consulting agreement or performed by other scientists
of TSRI. Further, it is understood that the Consultant shall not disclose to the Company
any such research or other scientific work to the extent that any such disclosure might
impair the patent rights or the proprietary rights of TSRI or other third parties.&nbsp; </FONT></P>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>7. In the event of any dispute as to
whether TSRI has any rights in an invention which Company claims to own, the
determination of inventorship, conception, and/or reduction to practice shall be
determined jointly by patent counsel for TSRI and patent counsel for Company, according
to the patent laws of the United States. In the event such patent counsel cannot mutually
agree, then the determination shall be by a qualified and independent patent lawyer
nominated by TSRI and approved by Company, which approval shall not be withheld
unreasonably. The independent patent attorney shall serve as a sole arbitrator, to whom
TSRI and Company shall submit their proofs and arguments. If Company does not approve the
appointment of said independent patent lawyer, then San Diego County Superior Court shall
appoint an independent patent lawyer to serve as the arbitrator. TSRI and Company shall
share equally in paying the costs and fees of the independent patent attorney. The
arbitrator may interview all persons and review all documents which the arbitrator deems
necessary or proper to reach a determination. Such determination shall be binding upon
TSRI and Company; excepting only, however, if a different determination is made later by
the United States Patent and Trademark Office or by a United States court in proceedings
initiated by a third party (other than TSRI or Company), and TSRI and Company are given
an opportunity to participate in said proceedings, then TSRI and Company hereby agree to
be bound by said different determination.&nbsp; </FONT></P>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>8. Nothing in the consulting
agreement shall limit or be construed to limit the right of Consultant or of TSRI to use
or publish information which (a) was in the public domain before the consulting services
were performed, (b) was known to Consultant or TSRI, respectively, before the consulting
services were performed, (c) was developed or acquired independently of the Company or
TSRI, or (d) becomes public knowledge without breach by Consultant of any obligations of
confidence to Company or TSRI.&nbsp; </FONT></P>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>9. The Uniform Provisions shall be
and hereby are in force and effect for the entire term of any consulting agreement
between Consultant and Company.&nbsp; </FONT></P>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>10. Upon termination of consulting
services, the Consultant shall, if requested by the Company, leave all notes and records
of his/her consulting services with Company, but shall be entitled to retain one copy
thereof for archival purposes, subject to any obligations of confidence to Company.&nbsp; </FONT></P>


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 <!-- MARKER FORMAT-SHEET="Para Flush 00" FSL="Workstation" -->
<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>11. If the Company calls upon the
Consultant to testify in any expert capacity, in Court, deposition or otherwise, the
Company shall pay the Consultant for all time spent in preparing for and giving such
testimony at a rate no lower than a pro rata fee commensurate with the consulting fee set
forth in the consulting agreement, adjusted for inflation, and in addition, shall pay
lodging, travel and other actual costs incurred by the Consultant in connection with such
testimony.  </FONT></P>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>12. The consulting agreement and
these Uniform Provisions shall be construed and enforced in accordance with the laws of
the State of California and the United States patent laws.  </FONT></P>

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<table border="0" cellspacing="0" cellpadding="2" width="600">
  <tr align="left" valign="top">
    <td width="166"><font face="Times New Roman, Times, Serif" size=2>ACCEPTED:</font></td>
    <td width="51">&nbsp;</td>
    <td width="371">&nbsp;</td>
  </tr>
  <tr align="left" valign="top">
    <td width="166"><font face="Times New Roman, Times, Serif" size=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<u>Company</u></font></td>
    <td width="51"><font face="Times New Roman, Times, Serif" size=2>By:</font></td>
    <td width="371">
      <p><font face="Times New Roman, Times, Serif" size=2>/s/ David Aviezer </font>
      <hr size="1" noshade align="left" width="250">
      <!-- MARKER FORMAT-SHEET="Para Flush 00" FSL="Workstation" -->
</td>
  </tr>
  <tr align="left" valign="top">
    <td width="166">&nbsp;</td>
    <td width="51"><font face="Times New Roman, Times, Serif" size=2>Date:    </font></td>
    <td width="371"><font face="Times New Roman, Times, Serif" size=2>May 31, 2007</font>
      <hr size="1" noshade align="left" width="250">
    </td>
  </tr>
  <tr align="left" valign="top">
    <td width="166">&nbsp;</td>
    <td width="51"><font face="Times New Roman, Times, Serif" size=2>Title:</font></td>
    <td width="371"><font face="Times New Roman, Times, Serif" size=2>CEO</font>
      <hr size="1" noshade align="left" width="250">
    </td>
  </tr>
  <tr align="left" valign="top">
    <td width="166">&nbsp;</td>
    <td width="51">&nbsp;</td>
    <td width="371">&nbsp;</td>
  </tr>
  <tr align="left" valign="top">
    <td width="166"><font face="Times New Roman, Times, Serif" size=2>ACCEPTED:</font></td>
    <td width="51">&nbsp;</td>
    <td width="371">&nbsp;</td>
  </tr>
  <tr align="left" valign="top">
    <td width="166"><font face="Times New Roman, Times, Serif" size=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Consultant:</font></td>
    <td width="51">&nbsp;</td>
    <td width="371"><font face="Times New Roman, Times, Serif" size=2>                /s/
Ernest Beutler</font>
      <hr size="1" noshade align="left" width="250">
    </td>
  </tr>
  <tr align="left" valign="top">
    <td width="166">
      <p><font face="Times New Roman, Times, Serif" size=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Date:  </font></p>
      <!-- MARKER FORMAT-SHEET="Para Flush 00" FSL="Workstation" -->
</td>
    <td width="51">&nbsp;</td>
    <td width="371">
      <br>
      <hr size="1" noshade align="left" width="250">
    </td>
  </tr>
</table>
<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Contract approved for The Scripps
Research Institute, La Jolla, California, this 7th day of May, 2007.  </FONT></P>




<!-- MARKER FORMAT-SHEET="Para Flush 00" FSL="Workstation" -->
<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>/s/ Jennifer L. Dyer</FONT>
<hr size="1" noshade width="250" align="left">
<FONT FACE="Times New Roman, Times, Serif" SIZE=2>
   Jennifer L.
Dyer  <br>
  Director, Technology Development  <br>
  The Scripps Research Institute  </FONT><!-- MARKER FORMAT-SHEET="Page Break CENTER" FSL="Workstation" -->
<BR>
&nbsp;
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<DESCRIPTION>PRESS RELEASE
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<!-- MARKER FORMAT-SHEET="Left Head 2 Bold" FSL="Workstation" -->
<P ALIGN=right><FONT FACE="Times New Roman, Times, Serif" SIZE=2><B>Exhibit 99.1 </B></FONT></P>



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<P ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=3><B>Protalix
BioTherapeutics Appoints Dr. Ernest Beutler to its Scientific Advisory Board </B></FONT></P>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Carmiel, Israel &#150; June 4, 2007
- - Protalix BioTherapeutics, Inc. (AMEX: PLX), today announced the appointment of
Professor Ernest Beutler, M.D., to its Scientific Advisory Board. </FONT></P>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Professor Beutler serves as
Professor and Chairman of the Department of Molecular and Experimental Medicine at The
Scripps Research Institute in La Jolla, California. Dr. Beutler began his career with the
United States Army Medical Corp. in 1953, during the Korean War. Following his military
service, Professor Beutler joined the faculty at the University of Chicago before taking
over as Chair of the Division of Medicine at The City of Hope National Medical Center in
Duarte, California in 1959. </FONT></P>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Over the past five decades,
Professor Beutler has made many significant contributions to the field of hematology and
the understanding of human disease, and his work has led to developments in the treatment
of Gaucher Disease, malaria and hairy cell leukemia, among other diseases. He has written
over 800 scientific and medical papers, as well as numerous chapters, books and
monographs. He received his Ph.B., in 1946, B.S. in 1948 and his M.D. from the University
of Chicago in 1950. Professor Beutler has received numerous accolades throughout his
career. He has been elected to the American Academy of Arts and Sciences, the Institute
of Medicine of the National Academies, the National Academy of Sciences, and to the
Presidency of the American Society of Hematology. In 1993, he was awarded an honorary
Ph.D. by the University of Tel Aviv. </FONT></P>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Dr. David Aviezer, President and
Chief Executive Officer of Protalix, stated, &#147;We are extremely pleased to add someone of
Professor Beutler&#146;s expertise and experience to our Scientific Advisory Board. His work
in the field of hematology and the treatment of genetic diseases will no doubt add
another dimension to what is already a highly respected and knowledgeable scientific
advisory board, and his contributions to the treatment of Gaucher Disease will help
Protalix progress towards commercialization of prGCD, Protalix&#146;s enzyme for treating
Gaucher Disease.&#148; </FONT></P>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Professor Beutler added, &#147;I am
looking forward to working with the dedicated and able scientific staff of Protalix.
Their innovative technology for the large scale production of therapeutic proteins has
the potential of bringing the benefits of modern biomedical science to many more patients
than can now afford them. This is a truly satisfying goal.&#148; </FONT></P>

<!-- MARKER FORMAT-SHEET="Left Head 2 Bold" FSL="Workstation" -->
<P ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2><B>About Protalix
BioTherapeutics, Inc. </B></FONT></P>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Protalix&#146;s proprietary technology is
based on its plant cell culture and bioreactor system which provides an effective and
scaleable cell system for industrial production of recombinant biopharmaceuticals.
Protalix has recently announced that it has completed Phase I clinical studies for its
enzyme therapy for Gaucher Disease, under an FDA Investigational New Drug study. Protalix
intends to pursue advanced clinical studies for its enzyme therapy for Gaucher Disease
and advance additional recombinant biopharmaceutical drug development programs. </FONT></P>




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<P ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2><B>Safe Harbor Statement: </B></FONT></P>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>To the extent that statements in
this press release are not strictly historical, all such statements are forward-looking,
and are made pursuant to the safe-harbor provisions of the Private Securities Litigation
Reform Act of 1995. These forward-looking statements are subject to known and unknown
risks and uncertainties that may cause actual future experience and results to differ
materially from the statements made. These statements are based on our current beliefs
and expectations as to such future outcomes. Drug discovery and development involve a
high degree of risk. Factors that might cause such a material difference include, among
others, uncertainties related to the ability to attract and retain partners for our
technologies and products under development, the identification of lead compounds, the
successful preclinical development of our products, the completion of clinical trials,
the review process of the FDA, foreign regulatory bodies and other governmental
regulation, and other factors described in our filings with the Securities and Exchange
Commission. The statements are valid only as of the date hereof and we disclaim any
obligation to update this information. </FONT></P>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE="2"><B>For additional information, contact
Protalix BioTherapeutics at: </B><BR><U>investors@protalix.com</U> </FONT> </P>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE="2"><B>AMEX IR Allinace for Protalix
BioTherapeutics </B><BR>Lee Roth / David Burke <BR>212-896-1209 / 1258 <BR><U>lroth@kcsa.com</U>/
<U>dburke@kcsa.com</U> </FONT> </P>


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