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<SEC-DOCUMENT>0000950144-07-008713.txt : 20070920
<SEC-HEADER>0000950144-07-008713.hdr.sgml : 20070920
<ACCEPTANCE-DATETIME>20070919215124
ACCESSION NUMBER:		0000950144-07-008713
CONFORMED SUBMISSION TYPE:	8-K/A
PUBLIC DOCUMENT COUNT:		4
CONFORMED PERIOD OF REPORT:	20061231
ITEM INFORMATION:		Financial Statements and Exhibits
FILED AS OF DATE:		20070920
DATE AS OF CHANGE:		20070919

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/A
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-33357
		FILM NUMBER:		071125822

	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/A
<SEQUENCE>1
<FILENAME>g09552e8vkza.htm
<DESCRIPTION>PROTALIX BIOTHERAPEUTICS INC.
<TEXT>
<HTML>
<HEAD>
<TITLE>Protalix BioTherapeutics Inc.</TITLE>
</HEAD>
<BODY bgcolor="#FFFFFF">
<!-- PAGEBREAK -->
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>
<DIV style="font-family: 'Times New Roman',Times,serif">


<DIV style="width: 100%; border-bottom: 2pt solid black; font-size: 1pt">&nbsp;</DIV>
<DIV style="width: 100%; border-bottom: 1pt solid black; font-size: 1pt">&nbsp;</DIV>




<DIV align="center" style="font-size: 14pt; margin-top: 12pt"><B>UNITED STATES<BR>
SECURITIES AND EXCHANGE COMMISSION</B>
</DIV>

<DIV align="center" style="font-size: 12pt"><B>Washington, D.C. 20549</B>
</DIV>


<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><DIV align="center"><DIV style="font-size: 3pt; margin-top: 16pt; width: 26%; border-top: 1px solid #000000">&nbsp;</DIV></DIV>
</DIV>

<DIV align="center" style="font-size: 18pt; margin-top: 12pt"><B>FORM 8-K/A</B>
</DIV>

<DIV align="center" style="font-size: 10pt"><B>(Amendment No.&nbsp;1)</B></DIV>



<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>CURRENT REPORT</B>
</DIV>


<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>Pursuant to Section&nbsp;13 or 15(d)<BR>
of the Securities Exchange Act of 1934</B>
</DIV>


<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><DIV align="center"><DIV style="font-size: 3pt; margin-top: 16pt; width: 26%; border-top: 1px solid #000000">&nbsp;</DIV></DIV>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 12pt">Date of Report (Date of earliest event reported): December&nbsp;31, 2006
</DIV>

<DIV align="center" style="font-size: 24pt; margin-top: 12pt"><B>Protalix BioTherapeutics, Inc.</B>
</DIV>

<DIV align="center" style="font-size: 10pt">(Exact name of registrant as specified in its charter)</DIV>


<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="30%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="30%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="30%">&nbsp;</TD>
</TR>
<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD align="center" valign="top">Florida
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">000-27836
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">65-0643773</TD>
</TR>
<TR style="font-size: 1px">
    <TD align="center" valign="top" style="border-top: 1px solid #000000">&nbsp;
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top" style="border-top: 1px solid #000000">&nbsp;
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top" style="border-top: 1px solid #000000">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD align="center" valign="top">(State or other <BR>
jurisdiction of <BR>
incorporation)
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">(Commission<BR>
File Number)
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">(IRS Employer<BR>
Identification No.)</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>


<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>2 Snunit Street<BR>
Science Park<BR>
POB 455<BR>
Carmiel, Israel 20100</B><BR>
<DIV style="margin-top: 1px"><FONT style="border-top: 1px solid #000000">(Address of principal executive offices) (Zip Code)</FONT></DIV>
</DIV>


<DIV align="center" style="font-size: 10pt; margin-top: 18pt">&nbsp;
</DIV>


<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><DIV style="margin-top: 1px"><FONT style="border-top: 1px solid #000000">(Former Name or Former Address, if Changed Since Last Report)</FONT></DIV>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 12pt">Registrant&#146;s telephone number, including area code: &#043;972-4-988-9488
</DIV>


<DIV align="left" style="margin-left: 0%; text-indent: 0%; margin-right: 0%; font-size: 10pt; margin-top: 6pt">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):</DIV>


<DIV align="left" style="margin-top: 12pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt; background: transparent; color: #000000">
<TR>
    <TD width="3%"></TD>
    <TD width="1%"></TD>
    <TD></TD>
</TR>
<TR valign="top">
    <TD nowrap align="left"><FONT face="Wingdings">&#111;</FONT>&nbsp;&nbsp;&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>Written communications pursuant to Rule&nbsp;425 under the Securities Act (17 CFR 230.425)</TD>
</TR>
</TABLE>
</DIV>

<DIV align="left" style="margin-top: 12pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt; background: transparent; color: #000000">
<TR>
    <TD width="3%"></TD>
    <TD width="1%"></TD>
    <TD></TD>
</TR>
<TR valign="top">
    <TD nowrap align="left"><FONT face="Wingdings">&#111;</FONT>&nbsp;&nbsp;&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>Soliciting material pursuant to Rule&nbsp;14a-12 under the Exchange Act (17 CFR 240.14a-12)</TD>
</TR>
</TABLE>
</DIV>

<DIV align="left" style="margin-top: 12pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt; background: transparent; color: #000000">
<TR>
    <TD width="3%"></TD>
    <TD width="1%"></TD>
    <TD></TD>
</TR>
<TR valign="top">
    <TD nowrap align="left"><FONT face="Wingdings">&#111;</FONT>&nbsp;&nbsp;&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>Pre-commencement communications pursuant to Rule&nbsp;14d-2(b) under the Exchange Act (17 CFR
240.14d-2(b))</TD>
</TR>
</TABLE>
</DIV>

<DIV align="left" style="margin-top: 12pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt; background: transparent; color: #000000">
<TR>
    <TD width="3%"></TD>
    <TD width="1%"></TD>
    <TD></TD>
</TR>
<TR valign="top">
    <TD nowrap align="left"><FONT face="Wingdings">&#111;</FONT>&nbsp;&nbsp;&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>Pre-commencement communications pursuant to Rule&nbsp;13e-4(c) under the Exchange Act (17 CFR
240.13e-4(c))</TD>
</TR>
</TABLE>
</DIV>

<DIV style="width: 100%; border-bottom: 1pt solid black; margin-top: 10pt; font-size: 1pt">&nbsp;</DIV>
<DIV style="width: 100%; border-bottom: 2pt solid black; font-size: 1pt">&nbsp;</DIV>





<P align="center" style="font-size: 10pt"><!-- Folio -->&nbsp;<!-- /Folio -->
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">








<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>EXPLANATORY NOTE</B>
</DIV>


<DIV align="left" style="margin-left: 0%; text-indent: 0%; margin-right: 0%; font-size: 10pt; margin-top: 6pt">This Current Report on Form 8-K/A is being submitted by Protalix BioTherapeutics, Inc. (the
&#147;Company&#148;) to file amended versions of Exhibits 10.6, 10.7 and 10.8. The exhibits were previously
filed with the Current Report on Form 8-K filed by the Company on January&nbsp;8, 2007. The amended
versions of the exhibits have been revised to include certain information previously omitted which
is no longer the subject of a confidential treatment request made by the Company.</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>Item&nbsp;9.01. Financial Statements and Exhibits</B>
</DIV>


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left"><B>(d)</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD><B>Exhibits</B></TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left">10.6</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>License Agreement entered into as of April&nbsp;12, 2005, by and between Icon Genetics AG and
Protalix Ltd.<SUP style="font-size: 85%; vertical-align: text-top">&#134;</SUP></TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left">10.7</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Research and License Agreement between Yeda Research and Development Company Limited and
Protalix Ltd. dated as of March&nbsp;15, 2006.<SUP style="font-size: 85%; vertical-align: text-top">&#134;</SUP></TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left">10.8</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Agreement between Teva Pharmaceutical Industries Ltd. and Protalix Ltd., dated September&nbsp;14,
2006.<SUP style="font-size: 85%; vertical-align: text-top">&#134;</SUP></TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left"><SUP style="font-size: 85%; vertical-align: text-top">&#134;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD></SUP>Portions of this exhibit were omitted and have been filed separately with the
Secretary of the Securities and Exchange Commission pursuant to the Registrant&#146;s application
requesting confidential treatment under Rule&nbsp;24b-2 of the Exchange Act.</TD>
</TR>

</TABLE>
</DIV>
<P align="center" style="font-size: 10pt"><!-- Folio -->2<!-- /Folio -->
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">


<DIV style="margin-top: 6pt"><TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">



</TABLE>
</DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>SIGNATURES</B>
</DIV>


<DIV align="left" style="margin-left: 0%; text-indent: 0%; margin-right: 0%; font-size: 10pt; margin-top: 6pt">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.</DIV>


<TABLE width="100%" border="0" cellspacing="0" cellpadding="0" style="font-size: 10pt">
<TR>
    <TD width="48%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="35%">&nbsp;</TD>
    <TD width="15%">&nbsp;</TD>
</TR>
<TR>
    <TD valign="top" align="left">&nbsp;</TD>
    <TD colspan="3" align="left"><B>PROTALIX BIOTHERAPEUTICS, INC.</B><BR>
&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD align="left">Date: September 19, 2007&nbsp;</TD>
    <TD valign="top">By:&nbsp;&nbsp;</TD>
    <TD colspan="2" style="border-bottom: 1px solid #000000" align="left">/s/ David Aviezer
&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD align="left">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD valign="top">Name:&nbsp;&nbsp;</TD>
    <TD align="left">David Aviezer, Ph.D.&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD align="left">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD valign="top">Title:&nbsp;&nbsp;</TD>
    <TD align="left">President and
Chief Executive Officer&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR>
    <TD colspan="5">&nbsp;</TD>
</TR>
</TABLE>


<P align="center" style="font-size: 10pt"><!-- Folio -->3<!-- /Folio -->
</DIV>




</BODY>
</HTML>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-10.6
<SEQUENCE>2
<FILENAME>g09552exv10w6.htm
<DESCRIPTION>EX-10.6 LICENSE AGREEMENT
<TEXT>
<HTML>
<HEAD>
<TITLE>EX-10.6 License Agreement</TITLE>
</HEAD>
<BODY bgcolor="#FFFFFF">
<!-- PAGEBREAK -->
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>
<DIV style="font-family: Helvetica,Arial,sans-serif">


<DIV align="right" style="font-size: 10pt; margin-top: 12pt">Exhibit&nbsp;10.6
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><B>Portions of this exhibit have been omitted pursuant to a request for confidential treatment. The
omitted portions, marked by &#091;***&#093;, have been separately filed with the Securities and Exchange
Commission.</B>
</DIV>


<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>LICENSE AGREEMENT</B>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">This
License Agreement (this &#147;<B>Agreement</B>&#148;) is entered into
as of this &#95;&#95;&#95; day of <U>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U><U>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U>, 2005,
by and between Icon Genetics AG, a company incorporated under the laws of Germany (&#147;<B>Icon</B>&#148;) of
Weinbergweg 23, D-06120 Halle/Saale, Germany, on its own behalf and on behalf of its Affiliates,
and Protalix Ltd., a company incorporated under the laws of Israel (&#147;<B>Protalix</B>&#148;) of 2 Snunit Street,
Industrial Park, Carmiel, Israel (Protalix and Icon may be referred to individually as a &#147;<B>Party</B>&#148;
and collectively as the &#147;<B>Parties</B>&#148;).
</DIV>


<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>PREMISES</B>
</DIV>


<DIV align="left" style="margin-left: 10%; text-indent: -10%; margin-right: 0%; font-size: 10pt; margin-top: 6pt"><B>WHEREAS, </B>Icon is engaged in the development and commercialization of plant
transformation and gene expression technologies and has developed
and owns or controls (with rights sufficient to grant the
licenses herein granted) a proprietary platform technology known
as &#147;Transgene Operating Systems&#148; (&#147;<B>Icon&#146;s Technology</B>&#148;), the
patents pertaining to which are listed in <B><U>Annex A</U> </B>attached hereto
(together with all divisions, continuations or
continuations-in-part, reissues, re-examinations, renewals,
extensions, supplementary protection certificates, or the like,
as well as any certificates of inventions or applications
therefore, and all foreign counterparts with respect to Icon&#146;s
Technology, being collectively referred to as &#147;<B>Patents</B>&#148;); and</DIV>


<DIV align="left" style="margin-left: 10%; text-indent: -10%; margin-right: 0%; font-size: 10pt; margin-top: 6pt"><B>WHEREAS, </B>Protalix is engaged in research, development, production and
commercialization of pharmaceutical proteins and the expression
thereof in plant cell culture systems (the &#147;<B>Protalix Field</B>&#148;); and</DIV>


<DIV align="left" style="margin-left: 10%; text-indent: -10%; margin-right: 0%; font-size: 10pt; margin-top: 6pt"><B>WHEREAS, </B>pursuant to the Collaborative Research Agreement entered into
between the Parties on April&nbsp;30, 2004 (the &#147;<B>Research Agreement</B>&#148;),
an agreed research program (the &#147;<B>Research Program</B>&#148;) directed
towards expressing the cDNA encoding of the 4 (four)&nbsp;proteins
listed in <B><U>Annex B</U> </B>attached hereto (the &#147;<B>Research Proteins</B>&#148;) in
plant cells grown in Protalix&#146;s bio-reactor systems with the use
of Icon&#146;s Technology is currently underway; and</DIV>


<DIV align="left" style="margin-left: 10%; text-indent: -10%; margin-right: 0%; font-size: 10pt; margin-top: 6pt"><B>WHEREAS, </B>pursuant to the Research Agreement<B>, </B>the Parties have entered into an
Option Agreement effective as of April&nbsp;30, 2004 (the &#147;<B>Option
Agreement</B>&#148;, attached hereto as <B><U>Annex C</U></B>), whereby Protalix was granted an Option
to acquire certain Licenses (as such terms are defined in the Option
Agreement); and</DIV>


<DIV align="left" style="margin-left: 10%; text-indent: -10%; margin-right: 0%; font-size: 10pt; margin-top: 6pt"><B>WHEREAS, </B>the Parties are entering into this Agreement to
record the understandings</DIV>


<P align="center" style="font-size: 10pt"><!-- Folio -->1<!-- /Folio -->
</DIV>

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<DIV style="font-family: Helvetica,Arial,sans-serif">





<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 8%">reached between them to
govern such Licenses, should they become operative
pursuant to the terms and conditions of the Option
Agreement.
</DIV>
<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><B>NOW THEREFORE, </B>in consideration of the mutual undertakings and covenants set forth herein, the
sufficiency of which is hereby acknowledged, the Parties hereby agree as follows:
</DIV>


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left">1.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD><B>DEFINITIONS</B></TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">1.1.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Terms defined in this Section&nbsp;1 and elsewhere, parenthetically, in this
Agreement, shall have the same meaning throughout this Agreement.</TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="6%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">1.1.1.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD><B>&#147;Affiliate&#148; </B>when used with respect to any person or entity, shall mean
any individual, firm, partnership, corporation, trust, joint venture or
other entity, whether <I>de jure </I>or <I>de facto, </I>which, directly or indirectly,
controls, is controlled by or is under common control with such person or
entity. As used in this definition, &#147;control&#148; shall mean the possession,
directly or indirectly, of the power to direct or cause the direction of
the policies and management of a person or entity, whether by the ownership
of stock, by contract or otherwise.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="6%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">1.1.2.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD><B>&#147;Confidential Information</B>&#148; shall mean any technical, business or other
information in any form whatsoever, with respect to a Party&#146;s technology,
its applications, business and operations, including but not limited to any
materials, know-how, inventions, data, software programs and their sources,
processes, methods and formula, all whether or not covered by patents,
patent applications, copyrights or other proprietary rights protection, and
any financial information, trade secrets, agreements, documents, names of
potential suppliers, customers, partners or investors, proposed business
deals, reports, plans, market studies, surveys and projections, and any
other information which is confidential or proprietary in nature.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="6%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">1.1.3.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD><B>&#147;Effective Date&#148; </B>shall mean the date upon which the Licenses may go into
force and effect as provided in Section&nbsp;2.1 below.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="6%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">1.1.4.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>[***].</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="6%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">1.1.5.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD><B>&#147;Icon&#146;s Technology&#148; </B>shall have the meaning set out in the Premises to
this Agreement.</TD>
</TR>

</TABLE>
</DIV>

<DIV align="left">
<DIV style="font-size: 3pt; margin-top: 16pt; width: 18%; border-top: 0px solid #000000">&nbsp;</DIV>
</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">
<TR>
    <TD width="3%"></TD>
    <TD width="1%"></TD>
    <TD width="96"></TD>
</TR>

<TR valign="top">
    <TD nowrap align="left">&#091;***&#093;</TD>
    <TD>&nbsp;</TD>
    <TD>Portions of this exhibit were omitted and filed separately
with the Secretary of the Securities and Exchange Commission pursuant
to the Registrant&#146;s application requesting confidential
treatment under Rule&nbsp;24b-2 of the Exchange Act.</TD>
</TR>

</TABLE>


<P align="center" style="font-size: 10pt"><!-- Folio -->2<!-- /Folio -->
</DIV>

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<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: Helvetica,Arial,sans-serif">


<DIV style="margin-top: 6pt"><TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">



</TABLE>
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="6%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">1.1.6.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD><B>&#147;Indemnitee&#148; </B>shall have the meaning set out in Section&nbsp;9.1 of this
Agreement.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="6%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">1.1.7.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD><B>&#147;Indemnitor&#148; </B>shall have the meaning set out in Section&nbsp;9.1 of this
Agreement.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="6%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">1.1.8.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>&#147;<B>Improvement</B>&#148; shall mean any invention, discovery or further development
of Icon Technology&#146;s Patents generated by Protalix.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="6%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">1.1.9.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD><B>&#147;Licensed Product(s)&#148; </B>shall mean any pharmaceutical Research Protein and
each additional pharmaceutical Protein expressed by Protalix or its
Affiliates or sub-licensees using Icon&#146;s Technology. For the avoidance of
doubt, active ingredients for drugs developed by Protalix with the use of
Icon&#146;s Technology and sold as such, shall be deemed as Licensed Product(s).</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="6%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">1.1.10.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD><B>&#147;Licenses&#148; </B>shall have the meaning set out in Section&nbsp;2.1 of this
Agreement.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="6%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">1.1.11.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD><B>&#147;Net Sales&#148; </B>shall mean amounts received by Protalix or any of its
Affiliates or sub-licensees for the sale of Licensed Products, less:</TD>
</TR>

</TABLE>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 12%">1.1.11.1 discounts, refunds, rebates, charge-backs and any other
retroactive price adjustments reducing the consideration thereby
received;
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 12%">1.1.11.2 amounts returned on account of product returns and
allowances;
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 12%">1.1.11.3 charges for insurance, freight, and other transportation
costs; and
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 12%">1.1.11.4 sales, tariff duties and any other taxes directly imposed
on the particular sale, but excluding federal, state or local taxes
based on income.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 12%">For the avoidance of doubt, Net Sales of any Licensed Products
constituting a pharmaceutical drug active ingredient shall be
determined as the industry net sales of the finished dosage form
(i.e. the sales of the pharmaceutical manufacturer or distributor to
wholesalers,
pharmacies, hospitals, physicians or medical care organizations)
less the amounts as specified under Sections 1.1.11.1. to 1.1.11.4
above.
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="6%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">1.1.12.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD><B>&#147;Owner&#148; </B>shall have the meaning set out in Section&nbsp;10.1 of this
Agreement.</TD>
</TR>

</TABLE>
</DIV>
<P align="center" style="font-size: 10pt"><!-- Folio -->3<!-- /Folio -->
</DIV>

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<DIV style="font-family: Helvetica,Arial,sans-serif">


<DIV style="margin-top: 6pt"><TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">



</TABLE>
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="6%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">1.1.13.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>&#147;<B>Patents</B>&#148; shall mean the Patents listed in <U><B>Annex A</B></U> that are
owned or controlled (with rights sufficient to grant the licenses herein
granted) by Icon or its Affiliates, together with all divisions,
continuations or continuations-in-part, reissues, re-examinations,
renewals, extensions, supplementary protection certificates, or the like of
any such Patents, as well as any certificates of invention or applications
therefore, and all foreign counterparts, with respect to any of the
foregoing.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="6%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">1.1.14.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD><B>&#147;Protalix Field&#148; </B>shall have the meaning set out in the Premises to this
Agreement.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="6%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">1.1.15.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>&#147;<B>Protein</B>&#148; shall mean any protein, protein fragment, peptide or
polypeptide regardless of formation or structure.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="6%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">1.1.16.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD><B>&#147;Recipient&#148; </B>shall have the meaning set out in Section&nbsp;10.1 of this
Agreement.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="6%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">1.1.17.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD><B>&#147;Research Proteins&#148; </B>shall have the meaning set out in the Premises to
this Agreement.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="6%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">1.1.18.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD><B>&#147;Research Program&#148; </B>shall have the meaning set out in the Premises to
this Agreement.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="6%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">1.1.19.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD><B>&#147;Research Agreement&#148; </B>shall have the meaning set out in the Premises to
this Agreement.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="6%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">1.1.20.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD><B>&#147;Royalties&#148; </B>shall have the meaning set out in Section&nbsp;5.1 of this
Agreement.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="6%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">1.1.21.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD><B>&#147;Royalty Period&#148; </B>shall have the meaning set out in Section&nbsp;5.4 of this
Agreement.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="6%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">1.1.22.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD><B>&#147;Semi-Annual Payment&#148; </B>shall have the meaning set out in Section&nbsp;5.4 of
this Agreement.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="6%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">1.1.23.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD><B>&#147;Term&#148; </B>shall have the meaning set out in Section&nbsp;12.1 of this Agreement.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="6%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">1.1.24.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>&#147;<B>Third Party</B>&#148; shall mean any person or entity other than Icon, Icon
Affiliates, Protalix and Protalix&#146; Affiliates.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="6%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">1.1.25.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD><B>&#147;Third Party Claim&#148; </B>shall have the meaning set out in
Section&nbsp;9.3 of this Agreement.</TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">1.2.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>The following terms shall have the meanings ascribed to them in the
Option Agreement: &#147;<B>Option</B>&#148;, &#147;<B>Option Period</B>&#148;, &#147;<B>Exercise Fee</B>&#148;.</TD>
</TR>

</TABLE>
</DIV>
<P align="center" style="font-size: 10pt"><!-- Folio -->4<!-- /Folio -->
</DIV>

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<DIV style="font-family: Helvetica,Arial,sans-serif">


<DIV style="margin-top: 6pt"><TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">



</TABLE>
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">1.3.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>The headings in this Agreement are intended solely for convenience or
reference and shall be given no effect in the interpretation of this Agreement.</TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left">2.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD><B>THE LICENSE; IMPROVEMENTS</B></TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">2.1.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Immediately upon and subject to the exercise of the Option by Protalix
during the Option Period or any longer period agreed upon between the Parties in
writing, and to the receipt by Icon of the Exercise Fee determined pursuant to
Section&nbsp;1.5 of the Option Agreement, the following licenses (&#147;<B>Licenses</B>&#148;) shall be
deemed as having been granted by Icon to Protalix and to be in full force and
effect:</TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="8%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">2.1.1.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>a non-exclusive worldwide license under the Patents listed in <U><B>Annex
A</B></U> to develop, test, use and commercialize Icon&#146;s Technology in the
Protalix Field and to make and have made Proteins expressed by using Icon&#146;s
Technology in the Protalix Field; and</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="8%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">2.1.2.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>an exclusive worldwide license under the Patents listed in <U><B>Annex
A</B></U> to develop, test, use and commercialize Icon&#146;s Technology to make
and have made Research Proteins in the Protalix Field for the following
Protein products: [***]. For the avoidance of doubt, the license in
respect to any [***] shall be non-exclusive, pursuant to Section
2.1.1 above.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="8%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">2.1.3.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Notwithstanding the above said, the scope of the Licenses granted under
Sections&nbsp;2.1.1. and 2.1.2. of this Agreement in case of each specific
Patent is further limited as specified in <U><B>Annex A</B></U>.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="8%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">2.1.4.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>For the avoidance of doubt, the exclusivity under
Section&nbsp;2.1.2. of this
Agreement and any section of the Option Agreement is granted only in the
Protalix Field, and nothing in the legal relationship between the Parties
implies any limitation imposed on Icon&#146;s business activity and
relationships with any Third Party outside the granted exclusivity area.</TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">2.2.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Protalix shall be permitted to sublicense its rights under the Licenses,
for the purpose of its sub-licensee(s) further developing, testing, using,
making and having made, marketing and selling Licensed Products, and for no
other purpose whatsoever.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">2.3.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>For the avoidance of doubt, Protalix shall be entitled to market and
sell Licensed Products through distributors.</TD>
</TR>

</TABLE>
</DIV>
<DIV align="left">
<DIV style="font-size: 3pt; margin-top: 16pt; width: 18%; border-top: 0px solid #000000">&nbsp;</DIV>
</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">
<TR>
    <TD width="3%"></TD>
    <TD width="1%"></TD>
    <TD width="96"></TD>
</TR>

<TR valign="top">
    <TD nowrap align="left">&#091;***&#093;</TD>
    <TD>&nbsp;</TD>
    <TD>Portions of this exhibit were omitted and filed separately
with the Secretary of the Securities and Exchange Commission pursuant
to the Registrant&#146;s application requesting confidential
treatment under Rule&nbsp;24b-2 of the Exchange Act.</TD>
</TR>



</TABLE>


<P align="center" style="font-size: 10pt"><!-- Folio -->5<!-- /Folio -->
</DIV>

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<DIV style="font-family: Helvetica,Arial,sans-serif">


<DIV style="margin-top: 6pt"><TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">



</TABLE>
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">2.4.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Protalix shall use commercially reasonable efforts to exploit the rights
licensed under this Agreement.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">2.5.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Protalix may register the License with the appropriate patent offices
if necessary or desirable under any applicable law, at its own expense. Icon
shall cooperate with Protalix for such purpose, sign all papers in support of
such registration, and execute a formal license that reflects the terms of this
Agreement, for such registration purposes.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">2.6.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Improvement License to Icon</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Subject to the terms and conditions set forth in this Agreement, if Protalix
creates any Improvements of Icon&#146;s Patents licensed to Protalix under Section
2.1 herein, Protalix grants Icon a non-exclusive, worldwide, royalty-free
fully paid up license (with the right to grant sublicenses) under Protalix
intellectual property arising from such Improvements of Icon&#146;s Patents to
make, have made, use, sell, and import any products other than research,
development, production and commercialization of (i)&nbsp;pharmaceutical proteins
and the expression thereof in plant cell culture systems or (ii)
commercialization of Research Proteins.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">2.7.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Limited research license. As from the signing this Agreement and
throughout the Research Program (ending no later than May&nbsp;1, 2006), Protalix is
granted a non-transferable research license to practice Icon Patents listed in
Annex A solely for its internal research and development efforts, said research
license being limited to research activities not involving production of material
for clinical testing.</TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left">3.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD><B>TECHNOLOGY TRANSFER/ASSISTANCE</B></TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">3.1.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Icon shall provide Protalix with copies of all of the Icon Patents
listed in <U><B>Annex A</B></U> within 10 (ten)&nbsp;days of the Effective Date.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">3.2.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Icon shall provide Protalix with training in the use of the Icon
Technology and Confidential Information which Icon is free to divulge in relation
to the Icon Technology, at Protalix&#146;s reasonable request, from time to time
during the Term, so as to facilitate Protalix&#146;s exploitation of the License.</TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left">4.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD><B>LUMP SUM PAYMENTS.</B></TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">4.1.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Protalix will make the following lump sum payments to Icon upon
achievement of each of the following development milestones in respect of each
Licensed Product:</TD>
</TR>

</TABLE>
</DIV>
<P align="center" style="font-size: 10pt"><!-- Folio -->6<!-- /Folio -->
</DIV>

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<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: Helvetica,Arial,sans-serif">


<DIV style="margin-top: 6pt"><TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">



</TABLE>
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="8%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">4.1.1.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>US$ &#091;***&#093; upon the commencement in the USA or in Europe or in Israel of Phase II clinical trials
(or the equivalent), as prescribed by applicable FDA regulations, or corresponding European
statutes, rules or regulations, &#091;***&#093;; and</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="8%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">4.1.2.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>US$ &#091;***&#093; upon commencement of the manufacture of an FDA or EMEA-approved Licensed Product, &#091;***&#093;.</TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">4.2.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Sections&nbsp;5.7 and 5.8 of this Agreement shall apply mutatis mutandis to
lump sum payments made under this Section&nbsp;4.</TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left"><B>5.</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD><B>ROYALTIES.</B></TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">5.1.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>As from the first commercial sale by Protalix, its Affiliates and/or
sub-licensees of any Licensed Product, Protalix shall pay Icon royalties
(&#147;<B>Royalties</B>&#148;) on Net Sales of such Licensed Product at the rate of &#091;***&#093; of such
Net Sales, until such time as Net Sales in respect of such Licensed Product reach
an aggregate amount of &#091;***&#093;. Thereafter, and for the remainder of the Royalty
Period (as defined below), Protalix shall pay Royalties to Icon with respect to
such Licensed Product at a rate of &#091;***&#093; on Net Sales of such Licensed Product,
unless otherwise provided hereunder.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">5.2.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Notwithstanding the provisions of the preceding Section&nbsp;5.1 of this
Agreement:</TD>
</TR>

</TABLE>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 8%">Should the &#091;***&#093; in any Licensed Product exceed &#091;***&#093; grown in Protalix&#146;s
plant cells bio-reactor systems, the Royalties payable with respect to such
Licensed Product shall be increased to &#091;***&#093; of the Net Sales of such
Licensed Product, for as long as aggregate Net Sales of such Licensed
Product are below &#091;***&#093;. Once aggregate Net Sales of such Licensed Product
exceed &#091;***&#093;, the Royalty rate payable in respect of such Licensed Product
shall be increased to &#091;***&#093; of Net Sales of such Licensed Product, for the
remainder of the Royalty Period.
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">5.3.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>For the avoidance of doubt, it is hereby clarified that sales of one
Licensed Product shall not be taken into consideration for purposes of
calculation of the Royalties required to be paid in connection with any other
Licensed Product. It is hereby further clarified that Protalix or its
licensee have to pay royalties once only, on &#147;Licensed Product&#148; sold in the form
of a pharmaceutical, and not on sales of an active ingredient.</TD>
</TR>

</TABLE>
</DIV>

<DIV align="left">
<DIV style="font-size: 3pt; margin-top: 16pt; width: 18%; border-top: 0px solid #000000">&nbsp;</DIV>
</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">
<TR>
    <TD width="3%"></TD>
    <TD width="1%"></TD>
    <TD width="96"></TD>
</TR>

<TR valign="top">
    <TD nowrap align="left">&#091;***&#093;</TD>
    <TD>&nbsp;</TD>
    <TD>Portions of this exhibit were omitted and filed separately
with the Secretary of the Securities and Exchange Commission pursuant
to the Registrant&#146;s application requesting confidential
treatment under Rule&nbsp;24b-2 of the Exchange Act.</TD>
</TR>

</TABLE>




<P align="center" style="font-size: 10pt"><!-- Folio -->7<!-- /Folio -->
</DIV>

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<DIV style="font-family: Helvetica,Arial,sans-serif">


<DIV style="margin-top: 6pt"><TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">



</TABLE>
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">5.4.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Protalix&#146;s obligation to pay Royalties to Icon in respect of Licensed Products
shall remain in force and effect until the first to occur of the following (the
&#147;<B>Royalty Period</B>&#148;): (i)&nbsp;the expiration of the [***] period commencing as
from the first commercial sale of the first US Food and Drug Administration &#151; or
European Medicines Agency &#151; approved Licensed Product or (ii)&nbsp;until the expiration
of [***]&nbsp;years from the first commercial sale of any Licensed Product not
requiring FDA or similar approval as a active drug ingredient.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">5.5.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Royalties shall be payable on a &#091;***&#093; basis with respect to the Net Sales of
the preceding &#091;***&#093;. Each &#091;***&#093; shall be made no later than &#091;***&#093;as from the lapse
of the &#091;***&#093; period for which the payment is due and shall be accompanied by a
report specifying the Net Sales during such &#091;***&#093; along with a calculation of the
Royalties owed to Icon.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">5.6.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>For the avoidance of doubt, it is hereby recorded and agreed that
following the expiry of the Royalty Period by reason of the passage of time pursuant
to Section&nbsp;5.4 of this Agreement, then notwithstanding such expiry, Protalix shall
be entitled to continue to utilize the Icon Patents, to make commercial use of the
Icon Technology in the Protalix Field, without having to pay royalties to Icon in
respect of such activities.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">5.7.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>All payments to be made to Icon pursuant to this Agreement shall be made
in United States Dollars to such bank account as Icon may direct from time to time
during the Term.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">5.8.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>All payments are quoted net and are made by adding the statutory value
added tax, if any.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">5.9.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Protalix shall withhold and pay to the appropriate authorities in
respect of any amount due to Icon, any and all withholding and other taxes as may
be imposed by any taxing authority. In such event, Protalix shall provide Icon with
evidence of such withholding and payment.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">5.10.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Foreign currency shall be converted into United States Dollars using an
exchange rate equal to the exchange rate for the purchase of United States Dollars,
as reported by <I>The Wall Street Journal</I>, on the last business day of the &#091;***&#093;
period for which the payment is due.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">5.11.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Protalix shall endeavor to prepare accurate and complete records
relating to the Net Sales of the Licensed Products during each
accounting period. Icon or its duly authorized representatives may during the
Term of this Agreement and for up to 6 (six)&nbsp;months thereafter upon giving
reasonable notice &#150; in any event of not less than 14 (fourteen)&nbsp;days &#150; to
Protalix within the premises of Protalix during</TD>
</TR>

</TABLE>
</DIV>
<DIV align="left">
<DIV style="font-size: 3pt; margin-top: 16pt; width: 18%; border-top: 0px solid #000000">&nbsp;</DIV>
</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">
<TR>
    <TD width="3%"></TD>
    <TD width="1%"></TD>
    <TD width="96"></TD>
</TR>

<TR valign="top">
    <TD nowrap align="left">&#091;***&#093;</TD>
    <TD>&nbsp;</TD>
    <TD>Portions of this exhibit were omitted and filed separately
with the Secretary of the Securities and Exchange Commission pursuant
to the Registrant&#146;s application requesting confidential
treatment under Rule&nbsp;24b-2 of the Exchange Act.</TD>
</TR>



</TABLE>

<P align="center" style="font-size: 10pt"><!-- Folio -->8<!-- /Folio -->
</DIV>

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<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: Helvetica,Arial,sans-serif">


<DIV style="margin-top: 6pt"><TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">



</TABLE>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 6%">normal business hours and not
more frequently then once in any 12 (twelve)&nbsp;months period to inspect and make
copies of all such records in respect of the period of 1 (one)&nbsp;year immediately
proceeding the date of such inspection.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 6%">Icon&#146;s right referred to in this Section shall be exercised by Icon at its own
expense save that in the event that any such inspection discloses that the total
amount which should have been accounted for hereunder by Protalix during the
period covered by the inspection exceeds by &#091;***&#093; or more the total amount that
was so accounted for by Protalix during such a period and that Protalix auditors
shall certify in writing such error exists that Protalix shall forthwith
reimburse Icon for reasonable costs of Icon&#146;s inspection.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 6%">If any inspection reveals that Protalix has under-reported the amount payable to
Icon Protalix agrees to make immediate payment to Icon of the proper amount due.
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left">6.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD><B>REPRESENTATIONS, WARRANTIES AND RELATED UNDERTAKINGS OF THE PARTIES.</B></TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">6.1.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Each Party hereby represents, warrants, and covenants to the other Party
as of the date hereof and as of the Effective Date, as follows:</TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="8%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">6.1.1.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>such Party (i)&nbsp;has the power and authority and the legal right to
enter into this Agreement and to perform its obligations hereunder,
and (ii)&nbsp;has taken all necessary action on its part required to
authorize the execution and delivery of this Agreement and the
performance of its obligations hereunder,</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="8%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">6.1.2.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>the Agreement has been duly executed and delivered on behalf of such
Party and constitutes a legal, valid, binding obligation of such Party
and is enforceable against it in accordance with its terms subject to
the effects of bankruptcy, insolvency, or other laws of general
application affecting the enforcement of creditor rights; and</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="8%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">6.1.3.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>the execution and delivery of this Agreement and the performance of
such Party&#146;s obligations hereunder; (i)&nbsp;do not conflict with or
violate any requirement of applicable law or regulation or any
provision of articles of
incorporation of such Party, in any material way, and (ii)&nbsp;do not
conflict with, violate, or breach or constitute a default or
require any consent under, any contractual obligation or court or
administrative order by which such Party is bound.</TD>
</TR>

</TABLE>
</DIV>
<DIV align="left">
<DIV style="font-size: 3pt; margin-top: 16pt; width: 18%; border-top: 0px solid #000000">&nbsp;</DIV>
</DIV>
 <TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">
<TR>
    <TD width="3%"></TD>
    <TD width="1%"></TD>
    <TD width="96"></TD>
</TR>

<TR valign="top">
    <TD nowrap align="left">&#091;***&#093;</TD>
    <TD>&nbsp;</TD>
    <TD>Portions of this exhibit were omitted and filed separately
with the Secretary of the Securities and Exchange Commission pursuant
to the Registrant&#146;s application requesting confidential
treatment under Rule&nbsp;24b-2 of the Exchange Act.</TD>
</TR>

</TABLE>


<P align="center" style="font-size: 10pt"><!-- Folio -->9<!-- /Folio -->
</DIV>

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<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: Helvetica,Arial,sans-serif">


<DIV style="margin-top: 6pt"><TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">



</TABLE>
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">6.2.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Other than the representations and warranties contained in this
Agreement, neither Icon nor Protalix makes any representations or warranties of any
type or nature, whether express or implied.</TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left">7.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD><B>ADDITIONAL REPRESENTATIONS AND WARRANTIES OF ICON.</B></TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">7.1.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Icon hereby represents, warrants and covenants that it is together with
its Affiliates the sole owner and possesses all rights, title and interest to the
Icon Technology and the Icon Patents, subject to certain licenses that have already
been granted in respect to those Patents and divulged to Protalix under to the
Research Agreement.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">7.2.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Icon hereby further represents, warrants and covenants that it has not
transferred any ownership interest in the Icon Technology or the Icon Patents or
granted any license to a Third Party that would be inconsistent with the Licenses
and that it will not do so as of the date hereof and during the Term. Moreover,
Icon shall not, whether directly or indirectly, by itself or through third parties,
compete with Protalix by commercializing the Icon Technology to make or have made
Research Proteins in the Protalix Field.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">7.3.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Icon and its Affiliates have no knowledge, having conducted such
inquiries and diligence as is generally exercised by bio-pharmaceutical companies
with respect to their own inventions and patenting thereof of any: (i)&nbsp;material
legal deficiencies of any Icon Patents, including any prior act that could
reasonably be determined to invalidate or prevent the issuance of the Icon Patents;
(ii)&nbsp;Third Party&#146;s prior rights to use; (iii)&nbsp;dependency of any inventions under
any Icon Patent on a Third Party&#146;s patents or intellectual property; (iv)&nbsp;technical
deficiencies of the invention on which any Icon Patent licensed hereunder is based;
or (v)&nbsp;allegations, claims or other statements made by a Third Party prior to the
Effective Date of any of the foregoing. For the avoidance of doubt, the foregoing
representations and warranties are limited to the actual knowledge as of the
Effective Date of Icon, its Affiliates, and their respective officers and
directors, together with knowledge that such entities or persons should have after
having conducted such inquiries and diligence as is generally exercised by
bio-pharmaceutical companies with respect to their own inventions and patenting
thereof.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">7.4.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Icon will use its reasonable efforts to obtain issuance of the Icon
Patents under the patent applications as set forth on <U><B>Annex A</B></U> to this
Agreement; however, Icon makes no warranty that any or all claims of the patent
applications set forth on <U><B>Annex A</B></U> will ultimately be</TD>
</TR>

</TABLE>
</DIV>
<P align="center" style="font-size: 10pt"><!-- Folio -->10<!-- /Folio -->
</DIV>

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<DIV style="font-family: Helvetica,Arial,sans-serif">


<DIV style="margin-top: 6pt"><TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">



</TABLE>
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>approved and issued by
the relevant governmental patenting agencies. Except as provided above, Icon
guarantees neither the patentability and validity of the Icon Patents nor the
commercial exploitability and/or readiness for plant use of the inventions, and
shall not be liable accordingly. Except as provided above, Icon does not guarantee
the commercial applicability of granted rights, nor is Icon responsible for any
financial or legal consequences resulting from the application of the licensed Icon
Technology and Icon Patents, which exclusion of liability does not apply in case of
intent or gross negligence.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">7.5.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>As from the date hereof, Icon shall not take any action or assist or
facilitate any Third Party to take any such action that would materially impair
the ability of Protalix, its Affiliates or sub-licensees to practice and exploit
the Icon Technology and Icon Patents that may be licensed under this Agreement.</TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left">8.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD><B>MAINTENANCE AND PROTECTION OF PATENT RIGHTS; INFRINGEMENT.</B></TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">8.1.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Icon shall notify Protalix on a current basis, of any matter which may
affect the scope or validity of an Icon Patent.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">8.2.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>In the event that Icon should fail to prosecute and/or maintain any of
the Icon Patents by the date being 60 (sixty)&nbsp;days prior to the date prescribed by
the relevant patent office or by applicable law for the taking of action with
respect to the prosecution and/or maintenance of such Icon Patents, and if no such
date is prescribed as aforesaid, within 30 (thirty)&nbsp;days of a request by Protalix
to take such action, then Protalix may assume sole control over the prosecution
and/or the maintenance of such Icon Patent at its own cost and expense and at its
sole discretion, and Icon shall render Protalix all documents and assistance that
may be required by Protalix therefore. In such event, for as long as Protalix
continues to prosecute and maintain an Icon Patent, then, in respect of such
jurisdiction, Protalix shall not be obligated to pay Icon any Royalties or other
consideration whatsoever with respect to utilizing such Icon Patent in such
jurisdiction. Protalix shall notify Icon in writing of Protalix&#146;s election as
aforesaid. For the avoidance of doubt, it is hereby clarified that should Protalix
assume control over the filing, prosecution and maintenance of such Icon Patent(s)
as aforesaid, then at any time thereafter Protalix may, in its sole and
absolute discretion, cease the filing, prosecution and maintenance of such Icon
Patent, upon prior written notice to Icon. Icon hereby irrevocably waives any
claim it may have against Protalix regarding
</TD>
</TR>
</TABLE>
</DIV>
<P align="center" style="font-size: 10pt"><!-- Folio -->11<!-- /Folio -->
</DIV>

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<DIV style="font-family: Helvetica,Arial,sans-serif">

<DIV style="margin-top: 6pt"><TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">


</TABLE>
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>the filing, prosecution and
maintenance of any such Icon Patent or the cessation of any such action by
Protalix.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">8.3.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>If either Party acquires knowledge of any infringement of a claim of an
Icon Patent in the Protalix Field, the Party having such knowledge shall promptly
inform the other Party thereof. The Parties shall thereafter discuss the action, if
any, which should be taken, including whether any legal proceedings should be
instituted. If the Parties mutually agree on the course of action to be taken, they
shall jointly select counsel and equally share any expenses, and in such event, any
settlement or recovery shall be shared equally by the Parties. If the Parties do
not agree on the course of action to be taken as aforesaid, then Protalix shall
have the right, at its own expense, to initiate a suit or take other appropriate
action that it believes is reasonably required to provide full protection against a
Third Party&#146;s infringement of such Icon Patent(s). Protalix shall have the sole and
exclusive right to select counsel for any suit initiated by it. Any settlement or
recovery as a result of any such action initiated by Protalix, shall belong solely
to Protalix. If Protalix fails to initiate a suit or take such other appropriate
action within 90 (ninety)&nbsp;days after becoming aware of the alleged infringement of
an Icon Patent in the Protalix Field, then Icon shall have the right, upon
sufficient advance notice to Protalix of its intent to do so, to take action at
Icon&#146;s expense and through counsel of Icon&#146;s choice, and in such event, any
settlement or recovery shall belong solely to Icon.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">8.4.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>&#091;***&#093; undertakes that it shall fully cooperate with
&#091;***&#093; in the
preparation and prosecution of any litigation duly initiated by [***] and, to
the extent required by the relevant law, &#091;***&#093; consent to being joined to
such suit and to being named as a party in any such litigation; provided that: (a)
any reasonable expenses or costs incurred in connection therewith and with such
litigation (including attorneys&#146; fees, costs and other sums awarded to the
counterparty in such action) shall be borne by &#091;***&#093;.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">8.5.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>&#091;***&#093; shall have no obligation to defend any claim or suit, or to hold
harmless or immune or to indemnify against any loss, cost, expense, payment or
damage, arising from any allegation of infringement or violation of any alleged or
actual patent or intellectual property right of a Third Party by reason of &#091;***&#093;
development, commercialization, use or sale of the Licensed Products, provided
however &#091;***&#093; shall fully cooperate with &#091;***&#093; in the preparation and prosecution
of any defense
against any claim of infringement or violation of any alleged or actual patent
or intellectual property right of a Third Party by reason of &#091;***&#093; development,
use or sale of a Licensed Product and/or the Icon
</TD>
</TR>
</TABLE>
</DIV>

<DIV align="left">
<DIV style="font-size: 3pt; margin-top: 16pt; width: 18%; border-top: 0px solid #000000">&nbsp;</DIV>
</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">
<TR>
    <TD width="3%"></TD>
    <TD width="1%"></TD>
    <TD width="96"></TD>
</TR>

<TR valign="top">
    <TD nowrap align="left">&#091;***&#093;</TD>
    <TD>&nbsp;</TD>
    <TD>Portions of this exhibit were omitted and filed separately
with the Secretary of the Securities and Exchange Commission pursuant
to the Registrant&#146;s application requesting confidential
treatment under Rule&nbsp;24b-2 of the Exchange Act.</TD>
</TR>

</TABLE>


<P align="center" style="font-size: 10pt"><!-- Folio -->12<!-- /Folio -->
</DIV>

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<DIV style="font-family: Helvetica,Arial,sans-serif">

<DIV style="margin-top: 6pt"><TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">


</TABLE>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 6%">Technology and/or the &#091;***&#093;
Patents. Any and all Royalties or other consideration owed to &#091;***&#093; hereunder,
shall be reduced by the amount of costs and expenses (including reasonable
attorneys&#146; fees) incurred by &#091;***&#093; in defending such action, claim or demand and
by any amounts that &#091;***&#093; shall be obligated to pay to any Third Party in
connection with such infringement claim, action or demand, whether in the form
of damages, royalties or otherwise, provided that the claimed infringement
relates to the [***].
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left">9.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD><B>MUTUAL INDEMNIFICATION.</B></TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">9.1.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Each Party (an &#147;<B>Indemnitor</B>&#148;) agrees to indemnify, hold harmless and
defend the other Party, its officers, employees, and agents (each an &#147;<B>Indemnitee</B>&#148;),
against any and all claims, suits, losses, damages, costs, fees, and expenses
asserted by third parties, both government and non-government, against such
Indemnitee to the extent resulting from or arising out of: (a)&nbsp;the Indemnitor&#146;s
gross negligence or intentional misconduct, (b)&nbsp;any breach of a representation,
warranty or covenant made by the Indemnitor in this Agreement. No indemnity shall
be provided to an Indemnitee for any such claims, suits, losses, damages, costs,
fees provided to an Indemnitee for any such claims, suits, losses, damages, costs,
fees of expenses to the extent resulting from such Indemnitee&#146;s use of technology
licensed under this Agreement in violation of applicable governmental laws,
regulations and requirements (it being understood that such laws, regulations and
requirements do not include violation of private Third Party rights even though
enforceable under applicable law, such as intellectual property rights, as to which
indemnity shall be provided if such violation is due to a breach of a
representation, warranty or covenant in this Agreement).</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">9.2.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>In order for an Indemnitee to be entitled to any indemnification
provided for under this Section&nbsp;9, such Indemnitee must notify the Indemnitor in
writing, and in reasonable detail, of the claim as promptly as reasonably possible
after receipt by such Indemnitee of notice of such claim; provided, however, that
failure to give such notification on a timely basis shall not affect the
indemnification provided hereunder except to the extent the Indemnitor shall not
have had knowledge of the facts on which such claim is based and shall have been
actually materially prejudiced as a result of such failure. Thereafter, the
Indemnitee shall, promptly after the Indemnitee&#146;s
receipt thereof deliver to Indemnitor copies of all notices and documents
(including court papers) received by the Indemnitee relating to the claim.
</TD>
</TR>
</TABLE>
</DIV>
<DIV align="left">
<DIV style="font-size: 3pt; margin-top: 16pt; width: 18%; border-top: 0px solid #000000">&nbsp;</DIV>
</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">
<TR>
    <TD width="3%"></TD>
    <TD width="1%"></TD>
    <TD width="96"></TD>
</TR>

<TR valign="top">
    <TD nowrap align="left">&#091;***&#093;</TD>
    <TD>&nbsp;</TD>
    <TD>Portions of this exhibit were omitted and filed separately
with the Secretary of the Securities and Exchange Commission pursuant
to the Registrant&#146;s application requesting confidential
treatment under Rule&nbsp;24b-2 of the Exchange Act.</TD>
</TR>

</TABLE>


<P align="center" style="font-size: 10pt"><!-- Folio -->13<!-- /Folio -->
</DIV>

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<DIV style="font-family: Helvetica,Arial,sans-serif">

<DIV style="margin-top: 6pt"><TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">


</TABLE>
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">9.3.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>If one of more Indemnitees makes a claim for indemnification relating to
losses, damages, costs, fees or expenses arising in connection with any claim
asserted by a Third Party against one or more Indemnitees (a &#147;<B>Third Party Claim</B>&#148;),
the Indemnitor shall be entitled to assume the defense thereof and, if it so
chooses and acknowledges in writing its obligation to indemnify the Indemnitees
therefor, to assume the defense thereof with counsel selected by Indemnitor and
reasonably satisfactory to the Indemnitees, and to settle such suit, action, claim
or proceeding in its discretion with a full release of the Indemnitees and no
admission of criminal liability; provided, that the written consent of the
Indemnitees (which shall not be unreasonably withheld) shall be required for any
settlement if as a result thereof the Indemnitees would become subject to
injunctive relief or any remedy other than the payment of money by Indemnitor.
Should Indemnitor so elect to assume the defense of a Third Party Claim, Indemnitor
shall not be liable to the Indemnitees for legal expenses subsequently incurred by
the Indemnitees in connection with the defense thereof unless (i)&nbsp;Indemnitor has
failed to defend, contest or otherwise protest in a timely manner against Third
Party Claims or (ii)&nbsp;a conflict of interest exists such that separate
representation of the Indemnitees is appropriate. If Indemnitor assumes such
defense, the Indemnitees shall have the right to participate in the defense thereof
and to employ counsel, at their own expense, separate from the counsel employed by
Indemnitor. Indemnitor shall be liable for the reasonable fees and expenses of
counsel employed by the Indemnitees for any period during which Indemnitor has not
assumed the defense thereof and for any period in which a conflict of interest
exists such that separate representation of one or more of the Indemnitees is
appropriate. If Indemnitor chooses to defend any Third Party Claim, both Parties
hereto shall cooperate in the defense or prosecution of such Third Party Claim.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">9.4.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Protalix will take out a liability insurance coverage appropriate to the
risk involved in commercializing the Licensed Products if Protalix or any of its
sublicenses commences any clinical trials of the Licensed Products. Such insurance
shall list Icon and the inventors of the patents as additional insureds if
possible. Protalix shall provide Icon with at least 30 (thirty)&nbsp;days prior written
notice of the commencement of clinical trials. Within 30 (thirty)&nbsp;days after the
start of the clinical trials and thereafter annually between January 1 and January
31 of each
year, Protalix will present evidence to Icon that the coverage is be maintained.
In addition, Protalix shall provide Icon with at leas 30 (thirty)&nbsp;days prior
written notice of any change in or cancellation of the insurance coverage.
</TD>
</TR>
</TABLE>
</DIV>
<P align="center" style="font-size: 10pt"><!-- Folio -->14<!-- /Folio -->
</DIV>

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<DIV style="font-family: Helvetica,Arial,sans-serif">

<DIV style="margin-top: 6pt"><TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">


</TABLE>
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left">10.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD><B>CONFIDENTIALITY.</B></TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">10.1.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Each Party (a &#147;<B>Recipient</B>&#148;) shall, at all times during the term of this
Agreement and for a 5 (five)&nbsp;year period following termination or expiration
hereof, keep, and shall use reasonable best efforts to ensure that its officers,
directors, employees, subcontractors and agents keep, confidential and shall not
publish or otherwise disclose and shall not use, directly or indirectly, for any
purpose, any Confidential Information furnished to it by the other Party (the
&#147;<B>Owner</B>&#148;), except to the extent such disclosure or use is expressly permitted by the
terms of this Agreement or is reasonably necessary for the performance of this
Agreement, including without limitation, for the practice and exercise of the
licenses or other rights granted pursuant to this Agreement.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">10.2.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Each Party may disclose Confidential Information to the extent that
such disclosure is:</TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="10%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">10.2.1.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>made in response to a valid order of a court of competent
jurisdiction or other governmental body of a country or any political
subdivision thereof of competent jurisdiction; provided, however, that
the Recipient shall first have given notice to the Owner of the
Confidential Information and given the Owner a reasonable opportunity
to quash such order and to obtain a protective order requiring that
the Confidential Information that is the subject of such order be held
in confidence by such court or agency or, if disclosed, be used only
for the purposes for which the order was issued; and provided further
that if a disclosure order is not quashed or a protective order is not
obtained, the Confidential Information disclosed in response to such
court or governmental order shall be limited to that information which
is legally required to be disclosed in such response to such court or
governmental order;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="10%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">10.2.2.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>otherwise required by law (subject to seeking confidential
treatment where available and to providing prior notification to the
Owner);</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="10%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">10.2.3.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>as required in connection with any filings made with, or by the
disclosure policies of a major stock exchange (subject to seeking
confidential treatment where available and to
providing prior notification to the Owner);</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="10%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">10.2.4.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>made by the Recipient to governmental regulatory authorities as
required in connection with applications for regulatory approvals
(such as an NDA or ANDA);
</TD>
</TR>
</TABLE>
</DIV>
<P align="center" style="font-size: 10pt"><!-- Folio -->15<!-- /Folio -->
</DIV>

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<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: Helvetica,Arial,sans-serif">

<DIV style="margin-top: 6pt"><TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">


</TABLE>
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="10%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>provided, however, that reasonable measures
shall be taken to assure confidential treatment of such information;
or</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="10%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">10.2.5.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>made by the Recipient to third-parties as may be necessary in
connection with (i)&nbsp;the development and commercialization of the
Licenses as contemplated by this Agreement, including, without
limitation, subcontracting transactions in connection therewith, or
(ii)&nbsp;the proposed sale of all or substantially all of the Recipient&#146;s
assets, or to its proposed successor or acquirer through merger,
consolidation or change of control; provided, however, that the
Recipient shall in each case obtain from the proposed Third Party
recipient a written confidentiality undertaking containing
confidentiality obligations no less onerous than those set forth
herein.</TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left">11.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD><B>NON-CONTESTATION CLAUSE</B></TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>The Parties shall not contest any rights of the other Party, in particular patent,
license or any other property rights that are subject to this Agreement nor support
any Third Party in any attempt to destroy property rights of the other Party. However,
each Party remains entitled to file a claim against the other Party in the case of a
disagreement arising from this Agreement.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left">12.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD><B>TERM AND TERMINATION</B></TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="6%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">12.1.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Save for the provisions of Sections&nbsp;6, 7.1, 7.2, 7.4 and 7.5 of this
Agreement which shall be binding upon the Parties in accordance with their terms as
of the date hereof, this Agreement shall enter into force and effect on the
Effective Date and, unless earlier terminated pursuant to the provisions hereof,
shall remain in full force and effect until the last to expire of the Icon Patents
or, should all of the patent applications listed in <U><B>Annex A</B></U> be finally
rejected, until 20 (twenty) years after the first commercial sale of any Licensed
Product. (the <B>&#147;Term&#148;</B>).</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="6%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">12.2.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Without limiting from Section&nbsp;12.1 of this Agreement above, Icon may
terminate this Agreement by written notice to Protalix:</TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="12%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">12.2.1.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>In the event of a material breach of the Protalix obligations hereunder,
which breach is not cured within 30 (thirty)&nbsp;days following delivery
thereto of a written notice to that effect;
and</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="12%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">12.2.2.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Upon the occurrence of any of the following events: (i)&nbsp;a request for
the liquidation and/or dissolution and/or winding up is filed against
Protalix, which request is not</TD>
</TR>

</TABLE>
</DIV>

<P align="center" style="font-size: 10pt"><!-- Folio -->16<!-- /Folio -->
</DIV>

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<DIV style="font-family: Helvetica,Arial,sans-serif">


<DIV style="margin-top: 6pt"><TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">



</TABLE>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 16%">dismissed or otherwise set aside within 60
(sixty)&nbsp;days thereafter; (ii)&nbsp;a request for the appointment of a receiver
over a material asset of Protalix is filed against Protalix with a
competent court of jurisdiction (or execution office), which request is not
dismissed or otherwise set aside within 60 (sixty)&nbsp;days thereafter; (iii)
Protalix makes a general assignment for the benefit of its creditors; and
(iv)&nbsp;Protalix ceases to conduct its operations for a period of 120
(one-hundred and twenty) days or more.
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="6%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">12.3.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Without limiting from Section&nbsp;12.1 of this Agreement above, Protalix
may terminate this Agreement by written notice to Icon in case of serious
material breach of this Agreement by Icon if such breach is not cured within 30
(thirty)&nbsp;days.</TD>
</TR>

</TABLE>
</DIV>



<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="6%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">12.4.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Without limiting from Section&nbsp;12.1 of this Agreement above, Icon may terminate the
exclusivity granted under this Agreement by written notice to Protalix, should
Protalix fail to reach the following development milestones with respect to such
Research Protein(s):</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="6%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>&#091;***&#093;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="6%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>&#091;***&#093;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="6%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">12.5.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>For the avoidance of doubt, and without derogating from the
provisions of Section&nbsp;5.6 above, upon expiration of the Term by reason of the
passage of time pursuant to Section&nbsp;12.1 of this Agreement, then notwithstanding
such expiry, Protalix shall be entitled to continue to utilize the Icon Patents,
to make commercial use of the Icon Technology in the Protalix Field, without
having to pay royalties to Icon in respect of such activities.</TD>
</TR>

</TABLE>
</DIV>
<DIV align="left">
<DIV style="font-size: 3pt; margin-top: 16pt; width: 18%; border-top: 0px solid #000000">&nbsp;</DIV>
</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">
<TR>
    <TD width="3%"></TD>
    <TD width="1%"></TD>
    <TD width="96"></TD>
</TR>

<TR valign="top">
    <TD nowrap align="left">&#091;***&#093;</TD>
    <TD>&nbsp;</TD>
    <TD>Portions of this exhibit were omitted and filed separately
with the Secretary of the Securities and Exchange Commission pursuant
to the Registrant&#146;s application requesting confidential
treatment under Rule&nbsp;24b-2 of the Exchange Act.</TD>
</TR>

</TABLE>

<P align="center" style="font-size: 10pt"><!-- Folio -->17<!-- /Folio -->
</DIV>

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<DIV style="font-family: Helvetica,Arial,sans-serif">


<DIV style="margin-top: 6pt"><TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">



</TABLE>
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left">13.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD><B>RELATIONSHIP OF PARTIES.</B></TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Nothing contained in this Agreement shall be deemed to establish any partnership, joint
venture or agency relationship and the Parties shall act at all times as independent
contractors.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left">14.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD><B>GOVERNING LAW AND ARBITRATION.</B></TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>This Agreement shall be governed by and construed in accordance with English law. All
disputes between the Parties shall be finally settled under the Rules of Arbitration of the
International Chamber of Commerce (&#147;<B>ICC</B>&#148;) by a single arbitrator appointed in accordance
with said Rules. The seat of arbitration shall be London, England and the language to be
used in the arbitration shall be English. Notwithstanding the foregoing, neither Party
shall be precluded from bringing an action in any court of competent jurisdiction for
injunctive or other provisional relief as necessary or appropriate. The arbitrator shall
have the power to award the costs of the arbitration and the prevailing Party&#146;s attorneys&#146;
fees and costs. The arbitrator&#146;s award shall be based on a reasoned written opinion to be
delivered to the Parties.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left">15.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD><B>NOTICES.</B></TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>All notices and other communications required or desired to be given or sent by one Party
to the other Party shall be in writing and shall be deemed to have been given: (a)&nbsp;on the
date of delivery, if personally delivered, (b)&nbsp;3 (three)&nbsp;business days after mailing if
mailed by certified or registered mail, postage prepaid, return receipt requested, to the
address of the applicable Party set forth in the preamble of this Agreement, or (c)&nbsp;on the
date of transmission if sent by a confirmed facsimile delivery to the number set forth
below:</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Protalix: &#043;972-4-9889489</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Icon: &#043;49-345-555-9884</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Either Party may change the address or facsimile number for giving notice from time to time
by written instructions to the other Party of such change, conveyed pursuant to the terms
of this Section&nbsp;15.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left">16.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD><B>ASSIGNMENT.</B></TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>The rights and obligations of a Party hereto may not be assigned or delegated by such Party
to any person or entity, save an entity to which all or substantially all</TD>
</TR>

</TABLE>
</DIV>
<P align="center" style="font-size: 10pt"><!-- Folio -->18<!-- /Folio -->
</DIV>

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<DIV style="font-family: Helvetica,Arial,sans-serif">


<DIV style="margin-top: 6pt"><TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">



</TABLE>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 3%">of the business operations of such Party have been transferred (whether by means of an
acquisition by, or a merger or consolidation of the Party with or into, such entity). Icon
is entitled to transfer this Agreement to any of its affiliates, provided that Icon remains
responsible for the performance by such Affiliate of the terms and conditions of this
Agreement.
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left">17.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD><B>PARTIES IN INTEREST.</B></TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>This Agreement is binding upon and is for the benefit of the Parties hereto and their
respective successors and permitted assigns. This Agreement is not made for the benefit of
any person or entity not a party hereto, and no person or entity (including without
limitation any sub-contractors, vendors, suppliers or customers) other than the Parties
hereto or their respective successors and permitted assigns will acquire, have or be
entitled to any benefit, right, remedy or claim under or by reason of or may otherwise rely
on any provision of this Agreement.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left">18.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD><B>WAVIER; REMEDIES.</B></TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>No failure or delay on the part of a Party hereto in exercising any right, power or
privilege under this Agreement will operate as a waiver thereof, nor will any single or
partial exercise of any right, power or privilege hereunder preclude any other or further
exercise thereof or the exercise of any other right, power or privilege hereunder. The
rights and remedies herein provided are cumulative and are not exclusive of any rights or
remedies which the Parties hereto may otherwise have at law or in equity.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left">19.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD><B>SEVERABILITY.</B></TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>The provisions of this Agreement are severable and, in the event that any court of
competent jurisdiction determines that any one or more of the provisions or part of a
provision contained in this Agreement shall, for any reason, be held to be invalid, illegal
or unenforceable in any respect, such invalidity, illegality or unenforceability shall not
affect any other provision or part of a provision of this Agreement; but this Agreement
shall be reformed and construed to the maximum extent possible as if such invalid, illegal
or unenforceable provision, or part of a provision, had never been contained herein.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left">20.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD><B>ORDER OF PRECEDENCE.</B></TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Unless otherwise provided herein, all terms and conditions of the Option Agreement and
Research Agreement shall remain in force and effect and continue to apply in accordance
with their terms, to the extent consistent with the terms of this Agreement. In the event
of any contradiction or discrepancy</TD>
</TR>

</TABLE>
</DIV>
<P align="center" style="font-size: 10pt"><!-- Folio -->19<!-- /Folio -->
</DIV>

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<DIV style="font-family: Helvetica,Arial,sans-serif">


<DIV style="margin-top: 6pt"><TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">



</TABLE>
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>between the provisions of this Agreement on one hand and the provisions of the Option
Agreement and/or Research Agreement on the other hand, the provisions of this Agreement
shall take precedence and prevail. Once the Licenses become operative pursuant to Section
2.1 of this Agreement above they shall remain in full force and effect in accordance with
the terms hereof, notwithstanding the termination or expiration of any of the Option
Agreement and/or Research Agreement for any reason whatsoever.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left">21.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD><B>AMENDMENT.</B></TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>This Agreement may not be amended, modified, altered, or supplemented except by a written
agreement executed by both Parties hereto.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left">22.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD><B>SURVIVAL.</B></TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>The provisions of Sections&nbsp;5.6, 6, 7.1, 7.3, 8, 9, 10, 11, 13, 14, 15, 16, 17, 18, 20, 21
of this Agreement and this Section&nbsp;22 shall survive the termination or expiration of this
Agreement for any reason whatsoever.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left">23.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD><B>FURTHER ACTION.</B></TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Each Party agrees to execute and deliver such further documents and instruments and perform
any further acts, from time to time, as may be reasonably necessary, to effectuate the
purposes of this Agreement.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left">24.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD><B>ENTIRE AGREEMENT.</B></TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>This Agreement, together with all Annexes and attachments hereto, sets forth the entire
understanding between the Parties hereto with respect to the License and supersedes all
prior agreements, arrangements and communications, whether oral or written, with respect
thereto.</TD>
</TR>

</TABLE>
</DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><I>&#091;Intentionally left blank&#093;</I>
</DIV>


<P align="center" style="font-size: 10pt"><!-- Folio -->20<!-- /Folio -->
</DIV>

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<DIV style="font-family: Helvetica,Arial,sans-serif">



<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><B>IN WITNESS WHEREOF </B>the Parties have executed this Agreement by their respective authorized
representatives as of the date first above written:
</DIV>

<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="3%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="40%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="40%">&nbsp;</TD>
</TR>
<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD colspan="3" valign="top" align="left"><B>Protalix Ltd.</B></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">By:
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">/s/ David Aviezer</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top"><DIV style="font-size: 1pt; border-top: 1px solid #000000">&nbsp;</DIV>
</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Title:
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">CEO</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Date:
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">April&nbsp;12, 2005</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD colspan="3" valign="top" align="left"><B>Icon Genetics AG</B></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">By:</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">/s/ Yuri Gleba</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top"><DIV style="font-size: 1pt; border-top: 1px solid #000000">&nbsp;</DIV>
</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Title:
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">CEO</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Date:
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">April&nbsp;12, 2005</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>


<P align="center" style="font-size: 10pt"><!-- Folio -->21<!-- /Folio -->
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: Helvetica,Arial,sans-serif">


<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><U><B>Annex A &#150; List of Icon&#146;s Patents and specific Patent License limitations</B></U>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&#091;***&#093;
</DIV>

<DIV align="left">
<DIV style="font-size: 3pt; margin-top: 16pt; width: 18%; border-top: 0px solid #000000">&nbsp;</DIV>
</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">
<TR>
    <TD width="3%"></TD>
    <TD width="1%"></TD>
    <TD width="96"></TD>
</TR>

<TR valign="top">
    <TD nowrap align="left">&#091;***&#093;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR><TD align="left" valign="top">&nbsp;</TD></TR>

<TR valign="top">
    <TD nowrap align="left">&#091;***&#093;</TD>
    <TD>&nbsp;</TD>
    <TD>Portions of this exhibit were omitted and filed separately
with the Secretary of the Securities and Exchange Commission pursuant
to the Registrant&#146;s application requesting confidential
treatment under Rule&nbsp;24b-2 of the Exchange Act.</TD>
</TR>


</TABLE>

<P align="center" style="font-size: 10pt"><!-- Folio -->22<!-- /Folio -->
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: Helvetica,Arial,sans-serif">




<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><U><B>Annex B &#150; List of Research Proteins</B></U>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&#091;***&#093;
</DIV>


<DIV align="left">
<DIV style="font-size: 3pt; margin-top: 16pt; width: 18%; border-top: 0px solid #000000">&nbsp;</DIV>
</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">
<TR>
    <TD width="3%"></TD>
    <TD width="1%"></TD>
    <TD width="96"></TD>
</TR>

<TR valign="top">
    <TD nowrap align="left">&#091;***&#093;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR><TD align="left" valign="top">&nbsp;</TD></TR>

<TR valign="top">
    <TD nowrap align="left">&#091;***&#093;</TD>
    <TD>&nbsp;</TD>
    <TD>Portions of this exhibit were omitted and filed separately
with the Secretary of the Securities and Exchange Commission pursuant
to the Registrant&#146;s application requesting confidential
treatment under Rule&nbsp;24b-2 of the Exchange Act.</TD>
</TR>


</TABLE>

<P align="center" style="font-size: 10pt"><!-- Folio -->23<!-- /Folio -->
</DIV>

</BODY>
</HTML>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-10.7
<SEQUENCE>3
<FILENAME>g09552exv10w7.htm
<DESCRIPTION>EX-10.7 RESEARCH & LICENSE AGREEMENT
<TEXT>
<HTML>
<HEAD>
<TITLE>EX-10.7 Research & License Agreement</TITLE>
</HEAD>
<BODY bgcolor="#FFFFFF">
<!-- PAGEBREAK -->
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>
<DIV style="font-family: Helvetica,Arial,sans-serif">


<DIV align="right" style="font-size: 10pt; margin-top: 12pt">Exhibit&nbsp;10.7
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><B>Portions of this exhibit have been omitted pursuant to a request for confidential treatment.
The omitted portions, marked by &#091;***&#093;, have been separately filed with the Securities and Exchange
Commission.</B>
</DIV>


<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><U><B>RESEARCH AND LICENCE AGREEMENT</B></U>
</DIV>


<DIV align="Center" style="font-size: 10pt; margin-top: 6pt">Between

</DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><U><B>YEDA RESEARCH AND DEVELOPMENT COMPANY LIMITED</B></U>
</DIV>



<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 35%">a
company duly registered under the laws of Israel of <BR>P O Box 95,
Rehovot 76100, Israel
</DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 18pt">(hereinafter, <B>&#147;Yeda&#148;</B>)
</DIV>


<DIV align="center" style="font-size: 10pt; margin-top: 18pt">and
</DIV>


<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><U><B>PROTALIX BIOTHERAPEUTICS LIMITED</B></U>
</DIV>



<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 35%">a
company duly registered under the laws of Israel, <BR>having its
principal place of business at 2 Snunit St, <BR>Science Park, POB 455,
Carmiel 20100, Israel
</DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 18pt">(hereinafter, <B>&#147;the Company&#148;</B>)
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>PREAMBLE:</B>
</DIV>

<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="9%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="82%">&nbsp;</TD>
</TR>
<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">WHEREAS:
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">(A)
</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">in the course of research conducted at the Weizmann Institute of Science (<B>&#147;the
Institute&#148;</B>), under the supervision of Professor Anthony H. Futerman of the Department of
Biological Chemistry, Professor Joel L. Sussman of the Department of Structural Biology and
Professor Israel Silman of the Department of Neurobiology (<B>&#147;the Scientists&#148;</B>), the Scientists
together with other scientists of the Institute, all of the aforementioned persons,
collectively <B>&#147;the Inventors&#148; </B>arrived at an invention entitled &#091;***&#093;(<B>&#147;the Invention&#148;</B>), being
the subject of and more fully described in PCT patent application number &#091;***&#093; and the other
patent applications listed in <B>Appendix&nbsp;A </B>hereto &#091;***&#093;(<B>&#147;the Existing Patent Applications&#148;</B>) and
created and/or generated the know-</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>


<DIV align="left">
<DIV style="font-size: 3pt; margin-top: 16pt; width: 18%; border-top: 0px solid #000000">&nbsp;</DIV>
</DIV>




<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">
<TR>
    <TD width="3%"></TD>
    <TD width="1%"></TD>
    <TD width="96"></TD>
</TR>

<TR valign="top">
    <TD nowrap align="left">&#091;***&#093;</TD>
    <TD>&nbsp;</TD>
    <TD>Portions of this exhibit were omitted and filed separately
with the Secretary of the Securities and Exchange Commission pursuant
to the Registrant&#146;s application requesting confidential
treatment under Rule&nbsp;24b-2 of the Exchange Act.</TD>
</TR>
</TABLE>
</DIV>
<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>
<DIV style="font-family: Helvetica,Arial,sans-serif">
<P align="center" style="font-size: 10pt"><!-- Folio -->- 2 -<!-- /Folio -->
<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="9%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="82%">&nbsp;</TD>
</TR>
<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">how and other information relating to the Invention as described in
<B>Appendix&nbsp;B </B>hereto (<B>&#147;the Know-How&#148;</B>); and</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">(B)
</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">the Company is: (i)&nbsp;interested in the performance of
further research at the Institute under the supervision of the Scientists
in the field of the Invention, as specified in the research program
attached hereto, marked <B>Appendix&nbsp;C </B>(<B>&#147;the Research Program&#148; </B>and <B>&#147;the
Research&#148;</B>); and (ii)&nbsp;willing, subject to and in accordance with the terms
and conditions of this Agreement, to finance the performance of the
Research in accordance with the budget attached hereto and marked <B>Appendix
D </B>(<B>&#147;the Research Budget&#148;</B>); and</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">(C)
</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Yeda is willing, subject to and in accordance with
the terms and conditions of this Agreement, to procure the performance of
the Research at the Institute as aforesaid; and</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">(D)
</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">by operation of Israeli law and/or under the terms of
employment of the Inventors at the Institute and pursuant to an agreement
between the Institute, Yeda and the Inventors, all right, title and
interest of the Inventors and/or the Institute in and to the Invention, in
any results deriving from the performance of the Research at the Institute
and in the Existing Patent Applications vests and shall vest in Yeda; and</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">(E)
</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">subject to and in accordance with the terms of this
Agreement, the Company wishes to receive, and Yeda is willing to grant to
the Company, a worldwide exclusive licence in respect of the Licensed
Information (as hereinafter defined) and under the Patents (as hereinafter
defined), for the development, manufacture, production, and sale of
enzymatically active mutants of glococerebrosidase and derivatives
therefrom for the treatment of Gaucher disease and/or any other indication
(<B>&#147;Products&#148;</B>), all subject to and in accordance with the terms and
conditions of this Agreement below; and</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">(F)
</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">the Company declares that on 12 January&nbsp;2006 the
Magneton Committee (appointed by the General Manager of the Ministry of
Industry, Trade and Employment (&#147;<B>MITE</B>&#148;)) approved the application filed by
the Company</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>

</DIV>
<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>
<DIV style="font-family: Helvetica,Arial,sans-serif">
<P align="center" style="font-size: 10pt"><!-- Folio -->- 3 -<!-- /Folio -->
<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="9%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="82%">&nbsp;</TD>
</TR>
<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">for the receipt of government grants within the framework of the Magneton
Program (as hereinafter defined) for the performance of the Research and
for research and development activities by the Company in respect of the
Products, pursuant to a letter dated 15 January&nbsp;2006 from the manager of
the Magneton Program, a copy of which is annexed hereto as <B>Appendix&nbsp;E</B>
(&#147;<B>the Magneton Approval</B>&#148;),</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>NOW THEREFORE IT IS AGREED BETWEEN THE PARTIES HERETO AS FOLLOWS:</B>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">1. <U><B>PREAMBLE, APPENDICES AND INTERPRETATION</B></U>
</DIV>


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="5%" nowrap align="left">1.1.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>The Preamble and Appendices hereto form an integral part of this Agreement.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="5%" nowrap align="left">1.2.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>In this Agreement the terms below shall bear the meanings assigned to them below, unless the
context shall indicate a contrary intention:</TD>
</TR>

</TABLE>
</DIV>
<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="10%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="25%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="55%">&nbsp;</TD>
</TR>
<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">1.2.1.
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top"><B>&#147;Affiliated Entity&#148;</B>
</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&#151;
</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">shall mean, with respect to
any party hereto, any
company, corporation, other
entity or person
(hereinafter, collectively,
<B>&#147;entity&#148;</B>), which directly or
indirectly, is controlled by,
or controls, or is under
common control with, such
party. For the purposes of
this definition, <B>&#147;control&#148;</B>
shall mean the ability,
directly or indirectly, to
direct the activities of the
relevant entity (save for an
ability flowing solely from
the fulfilment of the office
of director or another
office) and shall include,
without limitation, the
holding, directly or
indirectly, of more than 30%
(thirty percent) of the
issued share capital or of
the voting power of the
relevant entity or the
holding, directly or
indirectly, of a right to
appoint more than 30% (thirty
percent) of the directors of
such entity or of a right to
appoint the chief executive
officer of such entity;</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>

</DIV>
<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>
<DIV style="font-family: Helvetica,Arial,sans-serif">
<P align="center" style="font-size: 10pt"><!-- Folio -->- 4 -<!-- /Folio -->
<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="10%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="25%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="55%">&nbsp;</TD>
</TR>
<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">1.2.2.
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top"><B>&#147;Development Program&#148;</B>
</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&#151;
</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">shall mean, with respect to
any Product or Products, a
development program
specifying the activities and
timetable necessary to
develop such Products to
commercialisation, including
the performance of steps
required for obtaining
regulatory approvals from all
relevant authorities for such
Products and/or the sale of
such Products ;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">1.2.3.
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top"><B>&#147;Exchange Rate&#148;</B>
</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&#151;
</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">shall mean, with respect to
any amount to be calculated,
or which is paid or received
in a currency other than US
Dollars, the average of the
selling and buying exchange
rates of such currency (in
respect of cheques and
remittances) and the US
Dollar prevailing at Bank
Hapoalim B.M. at the end of
business on the date of
calculation, payment or
receipt, as the case may be;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">1.2.4.
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top"><B>&#147;First Commercial Sale&#148;</B>
</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&#151;
</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">shall mean, with respect to
any Product in any country,
the first commercial sale of
such Product in such country
after U.S. Food and Drug
Administration (&#147;<B>FDA</B>&#148;) New
Drug Approval, European
Medicines Agency (&#147;<B>EMEA</B>&#148;) or
national medicinal agency
marketing approval or
equivalent approval in such
country has been obtained for
such Product;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">1.2.5.
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top"><B>&#147;Licence&#148;</B>
</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&#151;
</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">shall mean an exclusive
worldwide licence under the
Licensed Information and the
Patents, for the development,
manufacture, production, use,
marketing, distribution and
sale of the Products, subject
to the provisions of clause
7.1 below and the other terms
and conditions of this
Agreement;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">1.2.6.
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top"><B>&#147;Licensed Information&#148;</B>
</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&#151;
</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">shall mean: (i)&nbsp;the
Invention; (ii)&nbsp;the Know-How;
and (iii)&nbsp;all and any
inventions, products,</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>

</DIV>
<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>
<DIV style="font-family: Helvetica,Arial,sans-serif">
<P align="center" style="font-size: 10pt"><!-- Folio -->- 5 -<!-- /Folio -->
<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="10%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="25%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="55%">&nbsp;</TD>
</TR>
<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">materials, compounds, compositions,
substances, methods, processes, techniques,
know-how, data, information, discoveries
and other results of whatsoever nature
discovered or occurring in the course of,
or arising from, the performance of the
Research;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">1.2.7.
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top"><B>&#147;Magneton Directive&#148;</B>
</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&#151;
</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">shall mean Directive 8.6 of the
General Manager of MITE dated 22
August&nbsp;2001 entitled &#147;The
Encouragement of Technology
Transfer from Academia to
Industry &#150; Magneton&#148;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">1.2.8.
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top"><B>&#147;Magneton Program&#148;</B>
</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&#151;
</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">shall mean the program for the
encouragement of the transfer of
generic technology from academic
to commercial bodies
administered by MITE, as
described in the Magneton
Directive;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">1.2.9.
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top"><B>&#147;Net Sales&#148;</B>
</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&#151;
</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">shall mean the total amount
invoiced by the Company and the
total amount invoiced by each
Sublicensee (and, subject to
clause 7.4.4.6 below, each
Further Sublicensee (as
hereinafter defined)) in
connection with the sale of
Products (for the removal of
doubt, whether such sales are
made before or after the First
Commercial Sale of any Product
in any country); provided that,
with respect to sales which are
not at arms-length and/or are
not in the ordinary course of
business and/or are not
according to then current market
conditions for such a sale, the
term <B>&#147;Net Sales&#148; </B>shall mean the
total amount that would have
been due in an arms-length sale
made in the ordinary course of
business and according to the
then current market conditions
for such sale or, in the absence
of such current market
conditions, according to market
conditions for</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>

</DIV>
<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>
<DIV style="font-family: Helvetica,Arial,sans-serif">
<P align="center" style="font-size: 10pt"><!-- Folio -->- 6 -<!-- /Folio -->
<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="10%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="25%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="50%">&nbsp;</TD>
</TR>
<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="3" valign="top" align="left">sale of products similar to the Products,
in all cases after deduction of:</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">(i)
</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">sales taxes (including value added
taxes) or customs duties to the extent
applicable to such sale and included
in the invoice in respect of such
sale;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">(ii)
</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">credits or allowances, if any,
actually granted on account of price
adjustments, recalls, rejections or
returns of Products previously sold;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">(iii)
</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">freight and insurance charges to the
extent such items are applicable to
such sale and are separately itemised
on invoices; and</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">(iv)
</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">bad debts (as determined in
accordance with relevant GAAP rules)
deriving from Net Sales in respect of
which royalties were paid by the
Company pursuant hereunder;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="3" valign="top" align="left">and provided further that, with respect to
sales by the Company and/or a Sublicensee
and/or a Further Sublicensee, as
applicable, to any Affiliated Entity of the
Company or of such Sublicensee or Further
Sublicensee, as the case may be, the term,
<B>&#147;Net Sales&#148; </B>shall mean the higher of (but
for the avoidance of doubt, not both of):
(a) &#147;Net Sales&#148;, as defined above, with
respect to sales which are not at
arms-length and/or in the ordinary course
of business and/or according to current
market conditions; and (b)&nbsp;the total amount
invoiced by such Affiliated Entity on
resale to an independent third party
purchaser after the</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>


</DIV>
<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>
<DIV style="font-family: Helvetica,Arial,sans-serif">
<P align="center" style="font-size: 10pt"><!-- Folio -->- 7 -<!-- /Folio -->


<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="10%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="25%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="55%">&nbsp;</TD>
</TR>
<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">deductions specified in subparagraphs (i)
and (ii)&nbsp;above, to the extent applicable;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">1.2.10.
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&#147;<B>OCS</B>&#148;
</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&#151;
</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">shall mean the Office of the Chief
Scientist at MITE;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">1.2.11.
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top"><B>&#147;Patents&#148;</B>
</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&#151;
</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">shall mean: (i)&nbsp;the Existing Patent
Applications and all patents which may be
granted thereon; and (ii)&nbsp;all other patent
applications or applications for
certificates of invention covering
portions of the Licensed Information and
all patents or certificates of invention
which may be granted thereon; as well as
all continuations, continuations-in-part,
patents of addition, divisions, renewals,
reissues and extensions (including any
patent term extension) of any of the
aforegoing patents, but excluding: (a)
patents that have been invalidated or
cancelled pursuant to the final (<I>i.e.,</I>
unappealed or unappealable) judgment of a
competent court; and (b)&nbsp;patent
applications that have been withdrawn or
have expired, in each case such exclusion
to be effective only from the date of such
invalidation, cancellation, withdrawal or
expiry, as the case may be.</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">For the purposes of this Agreement, the
term <B>&#147;Patent&#148; </B>shall also mean a
Supplementary Protection Certificate
(within the meaning of such term under
Council Regulation (EU)&nbsp;No. 1768/92) or
any other similar statutory or
supplementary protection;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">1.2.12.
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top"><B>&#147;Research Period&#148;</B>
</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&#151;
</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">shall mean the &#091;***&#093;period
commencing on the date of
signature of this Agreement,
as may be extended in
accordance with clause 2.1
below;</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>


<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">
<TR>
    <TD width="3%"></TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="96"></TD>
</TR>

<TR valign="top">
    <TD nowrap align="left">&#091;***&#093;</TD>
    <TD>&nbsp;</TD>
    <TD>Portions of this exhibit were omitted and filed separately
with the Secretary of the Securities and Exchange Commission pursuant
to the Registrant&#146;s application requesting confidential
treatment under Rule&nbsp;24b-2 of the Exchange Act.</TD>
</TR>

</TABLE>

</DIV>
<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>
<DIV style="font-family: Helvetica,Arial,sans-serif">
<P align="center" style="font-size: 10pt"><!-- Folio -->- 8 -<!-- /Folio -->
<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="10%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="25%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="50%">&nbsp;</TD>
</TR>
<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD valign="top">1.2.13.</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top"><B>&#147;Sublicence&#148; </B>and<BR>
<B>&#147;Sublicensee&#148;</B></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="3" valign="top" align="left"><B>&#147;Sublicence&#148; </B>shall mean any
right granted, licence
given, or agreement entered
into, by the Company (or,
but without derogating from
clause 7.4.4.6 below, a
Sublicensee) to or with any
other person or entity,
permitting any use of the
Licensed Information and/or
the Patents (or any part
thereof) for the independent
development and/or
manufacture and/or
production and/or marketing
and/or distribution and/or
sale of Products (whether or
not such grant of rights,
licence given or agreement
entered into is described as
a sublicence or as an
agreement with respect to
the development and/or
manufacture and/or
production and/or
distribution and/or
marketing and/or sale of
Products or otherwise) and
the term <B>&#147;Sublicensee&#148; </B>shall
be construed accordingly;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top">1.2.14.</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top"><B>&#147;Sublicensing Receipts&#148;</B></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="3" valign="top" align="left">shall mean consideration,
whether monetary or
otherwise, received (for the
removal of doubt, whether
received before or after the
First Commercial Sale in any
country) by the Company for
or from the grant of
Sublicences or Further
Sublicences and/or pursuant
thereto, or in connection
with the grant of an option
for a Sublicence, except
for:</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">(i)
</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">amounts received by the Company which
constitute royalties based on sales of
the Products by Sublicensees in
respect of which the Company has paid
royalties to Yeda; and</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">(ii)
</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">amounts received by the Company from
a Sublicensee and actually</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>

</DIV>
<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>
<DIV style="font-family: Helvetica,Arial,sans-serif">
<P align="center" style="font-size: 10pt"><!-- Folio -->- 9 -<!-- /Folio -->
<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="10%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="25%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="50%">&nbsp;</TD>
</TR>
<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="3" valign="top" align="left">expended by the Company (as
evidenced by invoices, receipts or
other appropriate documentation) in
respect of Product-related research
and/or development activities to be
performed by the Company for such
Sublicensee after the date of
signature of the relevant Sublicence
(or, as the case may be, option for
a Sublicence), provided that:</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">(a)
</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">any such amounts constitute
research and/or development
funding only and not payment
for Products nor any other type
of grant or benefit,</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">(b)
</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">such research and/or
development activities are
performed pursuant to a defined
research and development
program and research and
development budget agreed with
the relevant Sublicensee, a
copy of which is provided to
Yeda; and</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">(c)
</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">the Company submits to Yeda a
written expense report,
confirmed by the Company&#146;s
independent accountant or chief
financial officer, setting out
the time and materials
utilised, and reasonable
overhead costs and other
expenses actually incurred by
the Company in the conduct of
the said research and</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>

</DIV>
<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>
<DIV style="font-family: Helvetica,Arial,sans-serif">
<P align="center" style="font-size: 10pt"><!-- Folio -->- 10 -<!-- /Folio -->


<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="5%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="40%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="40%">&nbsp;</TD>
</TR>
<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">development activities, which
report demonstrates that such
amounts have actually been
expended by the Company in
the conduct of such research
and/or development activities
in accordance with such work
program and budget,</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="3" valign="top" align="left">it being agreed, for the removal of
doubt, that any amounts received by
the Company as aforesaid, but not
expended as set out above, shall be
deemed to be Sublicensing Receipts.</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top">1.2.15.</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">the terms: <B>&#147;Yeda&#148;</B>, <B>&#147;the
Company&#148;</B>, <B>&#147;the Institute&#148;</B>,
<B>&#147;the Scientist&#148;</B>, <B>&#147;the
Inventors&#148;</B>, <B>&#147;the Invention&#148;</B>,
<B>&#147;the Existing Patent
Applications&#148;</B>, <B>&#147;the
Know-How&#148;</B>, &#147;<B>the Magneton
Approval"</B>, &#147;<B>the Magneton
Directive</B>&#148;, <B>&#147;the Magneton
Program&#148;, </B>"<B>MITE</B>&#148;, <B>&#147;the
Research Program&#148;</B>, <B>&#147;the
Research&#148;</B>, <B>&#147;the Research
Budget&#148; </B>and <B>&#147;Products&#148;</B></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="5" valign="top" align="left">shall bear the definitions assigned to them respectively in the heading or the preamble hereto, as the case may be.</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD colspan="11" valign="top" align="left">1.3. In this Agreement:</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top">1.3.1.</TD>
    <TD>&nbsp;</TD>
    <TD colspan="9" valign="top" align="left">words importing the singular shall include the plural and <I>vice-versa </I>and words importing any
gender shall include all other genders and references to persons shall include partnerships,
corporations and unincorporated associations;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top">1.3.2.</TD>
    <TD>&nbsp;</TD>
    <TD colspan="9" valign="top" align="left">any reference in this Agreement to the term &#147;patent&#148; shall also include any re-issues,
divisions, continuations or extensions thereof (including measures having equivalent effect);</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>

</DIV>
<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>
<DIV style="font-family: Helvetica,Arial,sans-serif">
<P align="center" style="font-size: 10pt"><!-- Folio -->- 11 -<!-- /Folio -->

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="5%" nowrap align="left">1.3.3.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>any reference in this Agreement to the term &#147;patent applications&#148; shall include any
provisional patent applications, PCT, national or regional patent applications, applications
for continuations, continuations-in-part, divisions, patents of addition or renewals, as well
as any other applications or filings for similar statutory protection;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="5%" nowrap align="left">1.3.4.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>any reference in this Agreement to the term &#147;sale&#148; shall include the sale, lease, rental or
other disposal of any Product with the exception of disposition, without charge, for
demonstration and/or testing purposes; and</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="5%" nowrap align="left">1.3.5.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD><B>&#147;including&#148; </B>and <B>&#147;includes&#148; </B>means including, without limiting the generality of any
description preceding such terms.</TD>
</TR>

</TABLE>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt">2. <U><B>PERFORMANCE OF THE RESEARCH</B></U>
</DIV>


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" nowrap align="left">2.1.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>In consideration of the sums to be paid by the Company to Yeda pursuant to clause 3.1 below
and, subject to the execution of such payments and to clause 3.2 below, Yeda undertakes,
subject to clause 2.2 below, to procure the performance of the Research at the Institute under
the supervision of the Scientists during the Research Period. By written agreement of the
parties, the Research Period may be extended by such period and upon such terms and conditions
as the parties shall so agree.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" nowrap align="left">2.2.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>If all of the Scientists shall cease to be available for the supervision of the performance
of the Research, such cessation shall not constitute a breach of this Agreement by Yeda. In
the event that all of the Scientists shall cease to be available as aforesaid, Yeda shall use
its reasonable efforts to find from amongst the scientists of the Institute a replacement
scientist or scientists acceptable to the Company (such acceptance to be in writing, and not
to be unreasonably withheld), but no undertaking to find such a replacement is given by Yeda.
If all of the Scientists cease to be available and no acceptable replacement scientists can be
found within 60 (sixty)&nbsp;days of all of the Scientists becoming unavailable as aforesaid, then
the Company shall be entitled, by written notice to Yeda, to terminate the Research Period, in
which event the Research Period and the performance of Research hereunder shall cease at the
end of a further period of 60 (sixty)&nbsp;days from the date of receipt by Yeda of such written
notice. In the event of such termination, Yeda shall be released from any obligation to
procure the</TD>
</TR>

</TABLE>
</DIV></DIV>
<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>
<DIV style="font-family: Helvetica,Arial,sans-serif">
<P align="center" style="font-size: 10pt"><!-- Folio -->- 12 -<!-- /Folio -->

<DIV style="margin-top: 6pt"><TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">


<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" nowrap align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>performance of the Research during the period after such termination, and the Company
shall be released from any obligation to finance the Research in respect of the period
commencing after such termination, but without affecting the Licence and all the other
terms and conditions of this Agreement which shall remain in full force and effect
(save for those relating to the performance and financing of the Research).</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" nowrap align="left">2.3.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>It is agreed that if the performance of the Research shall involve the conduct of experiments
on and/or using animals, the performance of the Research and the Research Program shall be
subject to the Israeli Anti-Cruelty Law, 1994 and to the approval of, and any modifications
requested by, the Institutional Animal Care and Use Committee and the Safety Committee of the
Institute, in order to ensure compliance with the above law. It is agreed that, in view of
the fact that the performance of the Research may involve the conduct of experiments using
human material (such as cells, blood, tissue, DNA, RNA, lysates, or body fluids) the
performance of the Research and the Research Program shall be subject to the approval of, and
any modifications requested by the Safety Committee of the Institute and the Institutional
Review Board for Human Experimentation.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" nowrap align="left">2.4.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>For the avoidance of doubt, it is agreed that nothing in this Agreement shall constitute a
representation or warranty by Yeda, express or implied, that any results will be achieved by
the Research or that the Licensed Information or any part thereof or any results achieved by
the Research are or will be commercially exploitable or of any other value and Yeda
furthermore makes no warranties and representations, express or implied, whatsoever as to the
Research, any results of the Research, the Patents or the Licensed Information.</TD>
</TR>

</TABLE>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt">3. <U><B>FUNDING THE RESEARCH</B></U>
</DIV>


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" nowrap align="left">3.1.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Subject only to clause 3.2 below, the Company undertakes to pay to Yeda the total amount (in
US Dollars) of the Research Budget (being &#091;***&#093;per year for each year of the Research Period)
in &#091;***&#093; equal &#091;***&#093; instalments, payable in advance at the beginning of each &#091;***&#093; period
during the Research Period, the first such payment to be made on the date &#091;***&#093; following the
signature of this Agreement. An invoice in respect of an installment paid as aforesaid shall
be issued by Yeda promptly after the receipt by Yeda of such instalment. All payments of the
Research Budget shall be made by direct wire transfer to Yeda&#146;s bank account, the details of
which are set out in clause 17.7</TD>
</TR>

</TABLE>
</DIV>
<DIV align="left">
<DIV style="font-size: 3pt; margin-top: 16pt; width: 18%; border-top: 0px solid #000000">&nbsp;</DIV>
</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">
<TR>
    <TD width="3%"></TD>
    <TD width="1%"></TD>
    <TD width="96"></TD>
</TR>

<TR valign="top">
    <TD nowrap align="left">&#091;***&#093;</TD>
    <TD>&nbsp;</TD>
    <TD>Portions of this exhibit were omitted and filed separately
with the Secretary of the Securities and Exchange Commission pursuant
to the Registrant&#146;s application requesting confidential
treatment under Rule&nbsp;24b-2 of the Exchange Act.</TD>
</TR>

</TABLE>
</DIV>
<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>
<DIV style="font-family: Helvetica,Arial,sans-serif">
<P align="center" style="font-size: 10pt"><!-- Folio -->- 13 -<!-- /Folio -->

<DIV style="margin-top: 6pt"><TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">


<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" nowrap align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>below. For the removal of doubt, nothing contained in this Agreement shall prevent
Yeda and/or the Institute from obtaining further finance for the Research from other
entities (subject to the approval of the OCS should such approval be required pursuant
to the Magneton Program and/or the Magneton Directive), provided that such other
entities are not granted any rights in respect of the Research and/or the Licensed
Information which prejudice any rights granted to the Company under the Licence.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" nowrap align="left">3.2.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>If funding approved pursuant to the Magneton Program is withheld or delayed by the OCS solely
due to a delay by Yeda in fulfilling its reporting obligations as required by such Program,
then the Company shall be entitled, by written notice to Yeda, to suspend further payments to
Yeda pursuant to clause 3.1 above until such time as such reporting obligations are fulfilled
by Yeda (and such suspension shall cease immediately upon the fulfilment by Yeda of such
reporting obligations). In the event of such suspension of payment, Yeda shall be entitled to
discontinue the performance of the Research and its reporting obligations pursuant to section
4 below until funding recommences.</TD>
</TR>

</TABLE>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt">4. <U><B>REPORTING BY YEDA</B></U>
</DIV>


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" nowrap align="left">4.1.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Yeda will procure the preparation by the Scientists of, and shall submit to the Company: (i)
during the time that funding is provided pursuant to the Magneton Program, interim written
reports on the progress of the Research during the Research Period on a quarterly basis, and,
after such time, on a yearly basis, in both cases within 60 (sixty)&nbsp;days of the end of the
period covered by such report, (ii)&nbsp;a written report summarising the results of the Research
within 60 (sixty)&nbsp;days of the end of the Research Period; and (iii)&nbsp;reports of any significant
findings in the Research promptly upon such findings being made.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" nowrap align="left">4.2.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Yeda shall submit to the Company financial reports setting forth the monies received and
expended in connection with the Research on a quarterly basis in accordance with the
requirements of the Magneton Directive. A financial report as aforesaid shall be submitted to
the Company during the Research Period on a quarterly basis, and, after such time on a yearly
basis, in both cases within 60 (sixty)&nbsp;days after the end of the period covered by such
report. Charges in respect of Research expenditures shall be made in accordance with the
procedures prevailing at the Institute for charging research expenditures to individual
projects of applied research and in</TD>
</TR>

</TABLE>
</DIV></DIV>
<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>
<DIV style="font-family: Helvetica,Arial,sans-serif">
<P align="center" style="font-size: 10pt"><!-- Folio -->- 14 -<!-- /Folio -->

<DIV style="margin-top: 6pt"><TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">


<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" nowrap align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>accordance with the Magneton Directive and/or the directives of the OCS.</TD>
</TR>

</TABLE>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt">5. <U><B>TITLE</B></U>
</DIV>



<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">Subject only to the Licence, all right, title and interest in and to the Licensed Information
and the Patents and all right, title and interest in and to any drawings, plans, diagrams,
specifications, other documents, models, or any other physical matter in any way containing,
representing or embodying any of the aforegoing, vest and shall vest in Yeda.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt">6. <U><B>PATENTS; PATENT INFRINGEMENTS</B></U>
</DIV>


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="5%" nowrap align="left">6.1.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="5%" nowrap align="left">6.1.1.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Subject to clauses 6.3 and 6.4 below, &#091;***&#093; shall prosecute the Existing Patent Applications
using the outside patent counsel retained by &#091;***&#093; for such purpose prior to the execution of
this Agreement, unless otherwise agreed by the parties in writing, and shall maintain at the
applicable patent office any patents issuing from the Existing Patent Applications. The
Company and Yeda shall consult with one another and cooperate fully with regard to the
prosecution of the Existing Patent Applications and in maintenance of such patents.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="5%" nowrap align="left">6.1.2.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>At the initiative of either party, the parties shall consult with one another regarding the
filing of patent applications in respect of any portion of the Licensed Information and/or
corresponding to the Existing Patent Applications, including the jurisdictions in which such
applications should be filed, the timing of the filing of such applications and the contents
thereof. Following such consultations, and subject to clauses 6.3 and 6.4 below, &#091;***&#093; shall
retain outside patent counsel to prepare, file and prosecute patent applications as aforesaid
in such jurisdiction or jurisdictions as shall be determined by the parties in consultation as
aforesaid. Subject to clauses 6.3 and 6.4 below, &#091;***&#093; shall also maintain at the applicable
patent office any patents granted as a result of any of the above patent applications. The
parties agree that their joint policy will be to seek comprehensive patent protection for all
Licensed Information licensed to the Company hereunder. The Company
and Yeda shall cooperate
fully in the preparation, filing, prosecution and maintenance of such patent applications and
patents. &#091;***&#093; shall: (i)&nbsp;deliver to &#091;***&#093;, promptly, copies of all documentation prepared in
connection with the maintenance or</TD>
</TR>

</TABLE>
<DIV align="left">
<DIV style="font-size: 3pt; margin-top: 16pt; width: 18%; border-top: 0px solid #000000">&nbsp;</DIV>
</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">
<TR>
    <TD width="3%"></TD>
    <TD width="1%"></TD>
    <TD width="96"></TD>
</TR>

<TR valign="top">
    <TD nowrap align="left">&#091;***&#093;</TD>
    <TD>&nbsp;</TD>
    <TD>Portions of this exhibit were omitted and filed separately
with the Secretary of the Securities and Exchange Commission pursuant
to the Registrant&#146;s application requesting confidential
treatment under Rule&nbsp;24b-2 of the Exchange Act.</TD>
</TR>

</TABLE>

</DIV></DIV>
<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>
<DIV style="font-family: Helvetica,Arial,sans-serif">
<P align="center" style="font-size: 10pt"><!-- Folio -->- 15 -<!-- /Folio -->

<DIV style="margin-top: 6pt"><TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">


<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="5%" nowrap align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>prosecution of the Existing Patent Applications; and (ii)&nbsp;procure that &#091;***&#093;
receives a copy of correspondence between &#091;***&#093; and any patent attorney or
other professional or any competent authority (where the Patents may be filed,
maintained or made) all, in each case, relating to the prosecution and/or
maintenance of the Patents.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="5%" nowrap align="left">6.1.3.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Without derogating from the aforegoing, &#091;***&#093; shall, at its expense, take all necessary
steps as commercially feasible in order to obtain, or, at &#091;***&#093; election, assist &#091;***&#093; to
obtain, the extension of each patent referred to in this clause 6.1 above, or, in the case of
a patent in any member state of the European Union, a Supplementary Protection Certificate as
referred to in clause 1.2.11 above (including the preparation and filing of applications for
such extensions and Supplementary Protection Certificates), within the period prescribed
therefor under applicable law and, if applicable, take all necessary steps as commercially
feasible in order to obtain &#147;Orphan Drug&#148; status (within the meaning of such term under the US
Orphan Drug Act or under Council Regulation (EU)&nbsp;No.&nbsp;141/2000, as the case may be), or any
other form of protection that affords exclusivity, within the period prescribed therefor under
applicable law. &#091;***&#093; shall notify &#091;***&#093; promptly in writing and shall provide a copy to [***]
of each marketing authorisation granted in respect of each Product in each country and, if
applicable, of &#147;Orphan Drug&#148; or other form of protection affording exclusivity granted in
respect of a Product and shall keep &#091;***&#093; informed and shall provide copies to &#091;***&#093; of all
documents regarding all applications, activities and/or proceedings regarding such extensions
and/or any Supplementary Protection Certificates and/or &#147;Orphan Drug&#148; or other form of
protection affording exclusivity, as aforesaid.</TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" nowrap align="left">6.2.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>All applications to be filed in accordance with the provisions of clauses 6.1.2 and 6.1.3
above, shall be filed in the name of [***] or, should the law of the relevant jurisdiction so
require, in the name of the relevant inventors and then assigned to [***].</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" nowrap align="left">6.3.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>In the event that, following such consultations between the parties regarding the filing,
prosecuting and/or maintenance (as applicable) of patent applications and/or patents pursuant
to clauses 6.1.1 and 6.1.2 above, &#091;***&#093; shall not wish to file and/or continue to prosecute a
patent application and/or maintain a patent in any country in relation to any part of the
Licensed Information (including any of the Existing</TD>
</TR>

</TABLE>
</DIV>

<DIV align="left">
<DIV style="font-size: 3pt; margin-top: 16pt; width: 18%; border-top: 0px solid #000000">&nbsp;</DIV>
</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">
<TR>
    <TD width="3%"></TD>
    <TD width="1%"></TD>
    <TD width="96"></TD>
</TR>

<TR valign="top">
    <TD nowrap align="left">&#091;***&#093;</TD>
    <TD>&nbsp;</TD>
    <TD>Portions of this exhibit were omitted and filed separately
with the Secretary of the Securities and Exchange Commission pursuant
to the Registrant&#146;s application requesting confidential
treatment under Rule&nbsp;24b-2 of the Exchange Act.</TD>
</TR>

</TABLE>
</DIV>
<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>
<DIV style="font-family: Helvetica,Arial,sans-serif">
<P align="center" style="font-size: 10pt"><!-- Folio -->- 16 -<!-- /Folio -->

<DIV style="margin-top: 6pt"><TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">


<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" nowrap align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Patent Applications), then &#091;***&#093;, in its discretion, may elect to file and/or continue
to prosecute such patent application and/or maintain such patent in such country at
its own cost and expense. &#091;***&#093; shall notify &#091;***&#093; in writing of &#091;***&#093; election to
file and/or continue to prosecute such patent application and/or maintain such patent
in such country as aforesaid, at &#091;***&#093; expense (such notice, <B>&#147;</B>&#091;***&#093;<B>&#148;</B>), and, in the
event that &#091;***&#093; shall not, within 30 (thirty)&nbsp;days of receipt of the &#091;***&#093; Notice:
(i)&nbsp;reimburse &#091;***&#093; for all out-of-pocket costs and fees incurred by &#091;***&#093; until the
date of the &#091;***&#093; (the &#091;***&#093; to be supported by receipts or other appropriate
documents evidencing such costs and fees) in connection with the said patent
application (in the preparation and/or filing and/or prosecution and/or maintenance of
such application) and/or such patent, such costs and fees to be expressed in the
currency in which paid by &#091;***&#093; and to be reimbursed or paid (as the case may be) by
&#091;***&#093; to &#091;***&#093; in US Dollars in accordance with the Exchange Rate of such currency on
the date of reimbursement or payment; and (ii)&nbsp;undertake in writing to &#091;***&#093; to bear
all additional and future expenses relating to such patent application and/or patent,
then &#091;***&#093; shall be entitled, at any time after the expiry of the said 30 (thirty)&nbsp;day
period after such notice, to terminate the Licence granted to &#091;***&#093; under this
Agreement in respect of such patent application and/or patent in such country, and to
take whatever action it deems fit (in its sole discretion) with respect to such patent
application and/or patent.</TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="5%" nowrap align="left">6.4.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>&nbsp;&nbsp;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="5%" nowrap align="left">6.4.1.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>The Company shall, on the date of signature of this Agreement, reimburse Yeda the sum of US
&#091;***&#093;, constituting the costs and fees paid by Yeda prior to March&nbsp;14, 2006 in connection with
the Existing Patent Applications, and shall pay to Yeda all additional amounts incurred, but
not as yet paid, by Yeda prior to the date of signature of this Agreement, within 30 (thirty)
days of Yeda&#146;s first written request.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="5%" nowrap align="left">6.4.2.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>&#091;***&#093; shall bear and pay all
costs and fees incurred in the preparation, filing, prosecution and the like of the Existing
Patent Applications and of all patent applications filed in accordance with the provisions of
clauses 6.1.2 and 6.1.3 above (including patent applications corresponding to the Existing
Patent Applications), and the maintenance at the appropriate patent office and the like of
all patents issuing from the Existing Patent Applications and all patent applications</TD>
</TR>

</TABLE>
</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">
<TR>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%"></TD>
    <TD width="96"></TD>
</TR>

<TR valign="top">
    <TD nowrap align="left">&#091;***&#093;</TD>
    <TD>&nbsp;</TD>
    <TD>Portions of this exhibit were omitted and filed separately
with the Secretary of the Securities and Exchange Commission pursuant
to the Registrant&#146;s application requesting confidential
treatment under Rule&nbsp;24b-2 of the Exchange Act.</TD>
</TR>

</TABLE>

</DIV>
<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>
<DIV style="font-family: Helvetica,Arial,sans-serif">
<P align="center" style="font-size: 10pt"><!-- Folio -->- 17 -<!-- /Folio -->

<DIV style="margin-top: 6pt"><TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">



</TABLE>
</DIV>
<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="10%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="80%">&nbsp;</TD>
</TR>
<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="3" valign="top" align="left">referred to above, and all costs and fees incurred in undertaking any
activities referred to in clause 6.1.3 above.</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top">6.4.3.</TD>
    <TD>&nbsp;</TD>
    <TD colspan="3" valign="top" align="left">Unless otherwise instructed by &#091;***&#093; in writing, &#091;***&#093; shall pay directly to &#091;***&#093; relevant
outside patent counsel amounts payable by &#091;***&#093; pursuant to this clause 6.4 above or clause
6.3 above.</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">6.5.</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">6.5.1.
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">(i)
</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Should the Company determine that a third party is
infringing one or more of the Patents, then the Company
shall notify Yeda promptly in writing, giving full
particulars thereof and the Company shall, after first
having consulted Yeda, be entitled to sue for such
infringement.</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">(ii)
</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Yeda may elect, at its own initiative, to join as a
party to such action, or Yeda may consent to being named as a party to
such action (such consent by Yeda may for the removal of doubt, be
conditional upon, <I>inter alia</I>, the provision by the Company of security,
satisfactory to Yeda, for the payment of the expenses or costs referred to
in subparagraph (a)&nbsp;below).</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">(iii)
</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Yeda shall cooperate and shall use its reasonable
efforts to cause the Scientists to cooperate with the Company in
prosecuting such litigation.</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="3" valign="top" align="left">The provisions of paragraphs (i)&nbsp;and (iii)&nbsp;above shall be subject to the
following:</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">(a)
</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">any expenses or costs or other liabilities incurred
in connection with such litigation (including attorneys&#146; fees, costs and
other sums awarded to the counterparty in such action) shall be borne by
the Company, which shall indemnify Yeda against any such expenses or costs
or other liabilities, the above without derogating from the provisions of
clause 12 below;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">(b)
</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">in the event that Yeda shall be named as a party in
any such litigation then Yeda shall be entitled to select its own legal
counsel in such litigation, at the Company&#146;s expense and, if Yeda elects
not to do so, the selection of the legal counsel representing the Company
and Yeda in such litigation shall be subject to the prior written approval
of</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>

<DIV align="left">
<DIV style="font-size: 3pt; margin-top: 16pt; width: 18%; border-top: 0px solid #000000">&nbsp;</DIV>
</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">
<TR>
    <TD width="3%"></TD>
    <TD width="1%"></TD>
    <TD width="96"></TD>
</TR>

<TR valign="top">
    <TD nowrap align="left">&#091;***&#093;</TD>
    <TD>&nbsp;</TD>
    <TD>Portions of this exhibit were omitted and filed separately
with the Secretary of the Securities and Exchange Commission pursuant
to the Registrant&#146;s application requesting confidential
treatment under Rule&nbsp;24b-2 of the Exchange Act.</TD>
</TR>
</TABLE>
</DIV>
<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>
<DIV style="font-family: Helvetica,Arial,sans-serif">
<P align="center" style="font-size: 10pt"><!-- Folio -->- 18 -<!-- /Folio -->


<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="10%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="80%">&nbsp;</TD>
</TR>
<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Yeda, which approval shall not be withheld unreasonably; and</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">(c)
</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">no settlement, consent order, consent judgment or
other voluntary final disposition of such action may be entered into
without the prior written consent of Yeda.</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">6.5.2.
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">(i)
</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Should the Company discover any allegation by a third party that, or be sued on the
grounds that, the manufacture, use or sale of a Product by it or by a Sublicensee or a Further
Sublicensee under any of the Patents or using the Licensed Information or any portion thereof
infringes upon the patent rights of a third party, then the Company shall notify Yeda promptly
in writing, giving full particulars thereof, and the Company shall, after first having
consulted Yeda, be entitled to defend such action.</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">(ii)
</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Yeda may elect, at its own initiative, to join as a
party to such action.</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">(iii)
</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Yeda shall cooperate and shall use its reasonable
efforts to cause the Scientists to cooperate with the Company in defending
such litigation.</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">(iv)
</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">If an action is brought against the Company alleging
the invalidity of any of the Patents, Yeda shall have the right to take
over the sole defence of the action and the Company shall cooperate fully
with Yeda in connection with any such action. In such event, no
settlement, consent order, consent judgment or other voluntary final
disposition of such action may be entered into without the prior written
consent of the Company, which consent shall not be unreasonably withheld
or delayed.</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">(v)
</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">All expenses, costs and/or other liabilities incurred
in connection with such litigation (including attorneys&#146; fees, costs and
other sums awarded to the counterparty in such action) shall be borne by
the Company.</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">(vi)
</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">The provisions of clause 6.5.1(c) above shall apply,
<I>mutatis mutandis</I>.</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>

</DIV>
<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>
<DIV style="font-family: Helvetica,Arial,sans-serif">
<P align="center" style="font-size: 10pt"><!-- Folio -->- 19 -<!-- /Folio -->



<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="5%" nowrap align="left">6.5.3.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Any recovery in any litigation relating to an infringement as aforesaid in clauses 6.5.1 and
6.5.2 above shall first be applied to cover costs and thereafter divided &#091;***&#093;to the Company
and &#091;***&#093; to Yeda.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="5%" nowrap align="left">6.5.4.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>For the removal of doubt, Yeda shall not itself be obliged to take any action to sue for any
infringement or to defend any action as referred to in this clause 6.5 above.</TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" nowrap align="left">6.6.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>If the Company fails to take action to abate any alleged infringement of a Patent, or to
defend any action as aforesaid, within 60 (sixty)&nbsp;days of a request by Yeda to do so (or
within a shorter period, if required to preserve the legal rights of Yeda under applicable
law), then Yeda shall have the right (but not the obligation) to take such action at its
expense and the Company shall cooperate in such action at the Company&#146;s expense and, if
required under applicable law or contract, consent to be named as a party to any such action.
Yeda shall have full control of such action and shall have full authority to settle such
action on such terms as Yeda shall determine. Any recovery in any such litigation shall be
for the account of Yeda only.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" nowrap align="left">6.7.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Each party shall promptly keep the other informed and provide copies to the other of all
documents regarding all such actions or proceedings instituted by or against either party as
contemplated under any of the provisions of clause 6.5 above.</TD>
</TR>

</TABLE>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt">7. <U><B>LICENCE</B></U>
</DIV>


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" nowrap align="left">7.1.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Yeda hereby grants the Licence to the Company, and the Company hereby accepts the Licence
from Yeda, during the period, for the consideration and subject to the terms and conditions
set out in this Agreement. For the removal of doubt, no licence is granted hereunder with
regard to the Licensed Information and/or the Patents and/or any portion of any of the
aforegoing, with respect to any exploitation or activities (including the activities referred
to in clause 1.2.5 above) relating to any product or services, other than Products).</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" nowrap align="left">7.2.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>For the removal of doubt, nothing contained in this Agreement shall prevent Yeda or the
Institute from using the Licensed Information and the Patents for academic research or other
scholarly purposes, or from applying for or receiving grants to finance such activities
(provided that such grants do not prejudice the Licence granted to</TD>
</TR>

</TABLE>
</DIV>
<DIV align="left">
<DIV style="font-size: 3pt; margin-top: 16pt; width: 18%; border-top: 0px solid #000000">&nbsp;</DIV>
</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">
<TR>
    <TD width="3%"></TD>
    <TD width="1%"></TD>
    <TD width="96"></TD>
</TR>

<TR valign="top">
    <TD nowrap align="left">&#091;***&#093;</TD>
    <TD>&nbsp;</TD>
    <TD>Portions of this exhibit were omitted and filed separately
with the Secretary of the Securities and Exchange Commission pursuant
to the Registrant&#146;s application requesting confidential
treatment under Rule&nbsp;24b-2 of the Exchange Act.</TD>
</TR>

</TABLE>
</DIV>
<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>
<DIV style="font-family: Helvetica,Arial,sans-serif">
<P align="center" style="font-size: 10pt"><!-- Folio -->- 20 -<!-- /Folio -->

<DIV style="margin-top: 6pt"><TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">


<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" nowrap align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>the Company hereunder), or from transferring any materials created in the course of
the performance of the Research financed by the Company in accordance with the
provisions of this Agreement, to scientists at the Institute or to other scientists at
other institutions for academic research purposes, provided that any such transfer of
materials shall be in accordance with a material transfer agreement substantially in
the form of the specimen agreement annexed hereto as <B>Appendix&nbsp;F</B>. For the avoidance of
doubt, the materials transferable pursuant to this clause 7.2 shall not include any
derivatives of the human acid-beta-glucosidase developed and produced by the Company.
Should Yeda obtain rights to any invention or application deriving from such academic
research in connection with the materials transferred under any such material transfer
agreement, as contemplated by such agreement, Yeda shall immediately grant Protalix a
licence (or sublicence, as the case may be) in respect of such rights upon the terms
of the Licence, <I>mutatis mutandis </I>(subject to any restrictions upon the rights obtained
by Yeda).</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" nowrap align="left">7.3.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="5%" nowrap align="left">7.3.1.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>The Licence shall remain in force in each of Israel and the United States of America, with
respect to each Product (if not previously terminated in accordance with the provisions of
this Agreement) until the later of:</TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="8%" nowrap align="left">7.3.1.1.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>the date of expiry of the last of any Patent (including, for the removal of doubt, any
patent application, as referred to in the definition of &#147;Patents&#148; in clause 1.2.11 above) in
such country covering such Product to expire; and</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="8%" nowrap align="left">7.3.1.2.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>if there is any Licensed Information that is identifiable, secret and of value relating to
such Product, the date of expiry of a period of &#091;***&#093;commencing on the date that FDA, EMEA
marketing approval or equivalent approval is obtained in respect of such Product in such
country, provided that and for so long as such Licensed Information remains secret and of
value.</TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="5%" nowrap align="left">7.3.2.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>The Licence shall remain in force in each country in the world (other than Israel and the
United States of America) with respect to each Product (if not previously terminated in
accordance with the provisions of this Agreement) until the later of:</TD>
</TR>

</TABLE>
</DIV>
<DIV align="left">
<DIV style="font-size: 3pt; margin-top: 16pt; width: 18%; border-top: 0px solid #000000">&nbsp;</DIV>
</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">
<TR>
    <TD width="3%"></TD>
    <TD width="1%"></TD>
    <TD width="96"></TD>
</TR>

<TR valign="top">
    <TD nowrap align="left">&#091;***&#093;</TD>
    <TD>&nbsp;</TD>
    <TD>Portions of this exhibit were omitted and filed separately
with the Secretary of the Securities and Exchange Commission pursuant
to the Registrant&#146;s application requesting confidential
treatment under Rule&nbsp;24b-2 of the Exchange Act.</TD>
</TR>

</TABLE>
</DIV>
<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>
<DIV style="font-family: Helvetica,Arial,sans-serif">
<P align="center" style="font-size: 10pt"><!-- Folio -->- 21 -<!-- /Folio -->

<DIV style="margin-top: 6pt"><TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">


<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="5%" nowrap align="left">7.3.2.1.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>the date of expiry in such country of the last of any Patent (including, for the removal
of doubt, any patent application, as referred to in the definition of &#147;Patents&#148; in clause
1.2.11 above) in such country covering such Product to expire; and</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="5%" nowrap align="left">7.3.2.2.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>if there is any Licensed Information that is identifiable, secret and of value relating to
such Product, the date of expiry of a period of &#091;***&#093; commencing on the date that FDA, EMEA
marketing approval or equivalent approval is obtained in respect of such Product in such
country.</TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" nowrap align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>For the purposes of clauses 7.3.1.1 and 7.3.2.1 above and clause 9. 2 (<I>Royalties)</I>
below, a Product shall be deemed to be covered by a Patent in any country even after
the Patent in such country covering such Product has expired, in the event that, and
for so long as, such Product is protected and/or covered by &#147;Orphan Drug&#148; status as
referred to in clause 6.1.3 above, and/or by any type of data exclusivity or data
protection or by any other regulations and/or provisions granting similar statutory or
regulatory protection of such Product in such country. The Company shall notify Yeda
in writing immediately upon the obtaining of FDA, EMEA or equivalent approval in any
country, as referred to in clauses 7.3.1.2 and 7.3.2.2 above, specifying the date
thereof, the country and the type of Product in respect of which such approval was
granted.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" nowrap align="left">7.4.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Except as provided in clause 7.5 below, a Sublicence under the Licence may be granted by the
Company only with the prior written consent of Yeda, which shall not be withheld unreasonably,
and Yeda&#146;s response to a request for consent as aforesaid shall not be delayed unreasonably.
The Company shall only be entitled to request Yeda&#146;s consent if:</TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="5%" nowrap align="left">7.4.1.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>the proposed Sublicence is for monetary consideration only or other valuable consideration
that can reasonably be assessed in monetary terms;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="5%" nowrap align="left">7.4.2.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>the proposed Sublicence is to be granted in a <I>bona fide </I>arms-length commercial transaction;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="5%" nowrap align="left">7.4.3.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>the terms of the proposed Sublicence are submitted to Yeda prior to the signature thereof;</TD>
</TR>

</TABLE>
</DIV>
<DIV align="left">
<DIV style="font-size: 3pt; margin-top: 16pt; width: 18%; border-top: 0px solid #000000">&nbsp;</DIV>
</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">
<TR>
    <TD width="3%"></TD>
    <TD width="1%"></TD>
    <TD width="96"></TD>
</TR>

<TR valign="top">
    <TD nowrap align="left">&#091;***&#093;</TD>
    <TD>&nbsp;</TD>
    <TD>Portions of this exhibit were omitted and filed separately
with the Secretary of the Securities and Exchange Commission pursuant
to the Registrant&#146;s application requesting confidential
treatment under Rule&nbsp;24b-2 of the Exchange Act.</TD>
</TR>

</TABLE>
</DIV>
<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>
<DIV style="font-family: Helvetica,Arial,sans-serif">
<P align="center" style="font-size: 10pt"><!-- Folio -->- 22 -<!-- /Folio -->

<DIV style="margin-top: 6pt"><TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">


<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="5%" nowrap align="left">7.4.4.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>the proposed Sublicence is made by written agreement, the provisions of which are consistent
with the terms of the Licence and contains, <I>inter alia</I>, the following terms and conditions:</TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="8%" nowrap align="left">7.4.4.1.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>the Sublicence shall expire automatically on the termination of the Licence for any
reason;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="8%" nowrap align="left">7.4.4.2.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>the Sublicensee shall be bound by provisions substantially similar to those in clause 10
below relating to confidentiality binding the Company (the obligations of the Sublicensee so
arising being addressed also to Yeda directly);</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="8%" nowrap align="left">7.4.4.3.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>an exclusion of liability and indemnification undertaking in the same form, <I>mutatis
mutandis</I>, as the provisions of clause 12 below (the indemnification obligations of the
Sublicensee to be given also in favour of, and shall be actionable by Yeda, the Institute, any
director, officer or employee of Yeda or of the Institute, or by the Inventors);</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="8%" nowrap align="left">7.4.4.4.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>all terms necessary to enable performance by the Company of its obligations hereunder;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="8%" nowrap align="left">7.4.4.5.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>that the Sublicence shall not be assignable or otherwise transferable, save as set out in
clause 7.4.4.6 below.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="8%" nowrap align="left">7.4.4.6.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>that the Sublicence shall not be further sublicenseable other than with Yeda&#146;s prior
written consent, which consent: (i)&nbsp;shall not be unreasonably withheld (and Yeda&#146;s response to
a request for consent to a further sublicence shall not be unreasonably delayed), and (ii)&nbsp;may
be conditioned by Yeda on, <I>inter alia</I>, the payment to Yeda of:</TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="9%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">(a)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>royalties based on the sales of the
further sublicensee (&#147;<B>the Further Sublicensee</B>&#148;), in accordance with
the provisions of clause 9.2 below; and</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="9%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">(b)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>royalties on all consideration received
(whether monetary or otherwise) by the Company or the Sublicensee
from the Further Sublicensee (except for amounts received by such
Sublicensee which constitute royalties based on sales of the
Products</TD>
</TR>

</TABLE>
</DIV></DIV>
<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>
<DIV style="font-family: Helvetica,Arial,sans-serif">
<P align="center" style="font-size: 10pt"><!-- Folio -->- 23 -<!-- /Folio -->

<DIV style="margin-top: 6pt"><TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">


<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="9%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>by such Further Sublicensee in respect of which the Sublicensee
has paid royalties to Yeda), in accordance with the provisions of
clause 9.3 below, which consideration shall be deemed to be
Sublicensing Receipts received by the Company.</TD>
</TR>

</TABLE>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 9%">For the removal of doubt, the Company may seek Yeda&#146;s consent to a
further sublicence (<B>&#147;the Further Sublicence"</B>) only if:
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="9%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">A)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>the proposed Further Sublicence shall be
in writing;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="9%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">B)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>the proposed Further Sublicence shall be
consistent with the terms of this Agreement;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="9%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">C)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>the proposed Further Sublicence shall be
for monetary consideration only or other valuable consideration that
can reasonably be assessed in monetary terms;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="9%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">D)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>the proposed Further Sublicence shall be
granted in a <I>bona fide </I>arms-length commercial transaction;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="9%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">E)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>the terms of the proposed Further
Sublicence shall be submitted to Yeda prior to the signature
thereof;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="9%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">F)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>the proposed Further Sublicence shall
contain, <I>inter alia, </I>the terms and conditions set out in clauses
7.4.4.2 and, 7.4.4.3 above and clauses 7.4.4.7, 7.4.4.8 and 7.4.4.9
below (and the references in such clauses to &#147;Sublicence&#148; or
&#147;Sublicensee&#148; shall, for the purposes of this clause, be deemed to
refer to the Further Sublicence or the Further Sublicensee, as the
case may be; and</TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="12%" nowrap align="left">7.4.4.6.1.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>the Further Sublicence shall not be assignable, otherwise transferable or further
sublicenseable; and</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="12%" nowrap align="left">7.4.4.6.2.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>the Further Sublicence shall expire automatically upon the termination of this Agreement
or of the Sublicence;</TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="8%" nowrap align="left">7.4.4.7.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>that: (i)&nbsp;a copy of the agreement granting the Sublicence shall be made available to Yeda,
promptly upon its</TD>
</TR>

</TABLE>
</DIV></DIV>
<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>
<DIV style="font-family: Helvetica,Arial,sans-serif">
<P align="center" style="font-size: 10pt"><!-- Folio -->- 24 -<!-- /Folio -->

<DIV style="margin-top: 6pt"><TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">


<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="8%" nowrap align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>execution; (ii)&nbsp;all amendments to any such Sublicence agreement shall be
subject to Yeda&#146;s prior written consent; and (iii)&nbsp;the Company shall
submit to Yeda copies of all such amendments (as approved by Yeda),
promptly upon execution thereof;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="8%" nowrap align="left">7.4.4.8.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>that the Sublicensee shall grant to Yeda the right, at reasonable times and upon
reasonable notice to the Sublicensee, to send representatives in order to examine those books
of accounts, records and other documentation of the Sublicensee as may be necessary in order
to determine the correctness or completeness of any payment made by the Company to Yeda under
this Agreement, all without derogating from clause 9.7 below; and</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="8%" nowrap align="left">7.4.4.9.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>that the Sublicensee shall, forthwith upon written request by the Company and/or Yeda, pay
directly to Yeda all royalties and/or other payments that Yeda is entitled to receive in
respect of sales by or on behalf of such Sublicensee pursuant to clause 9.2 below and the
percentage of Sublicensing Receipts as provided in clause 9.3 below and, in such event, the
last 2 (two)&nbsp;sentences of clause 9.7 below shall apply to the Sublicensee as if it were the
Company, <I>mutatis mutandis</I>;</TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="5%" nowrap align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>and</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="5%" nowrap align="left">7.4.5.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>any act or omission by the Sublicensee or the Further Sublicensee which would have
constituted a breach of this Agreement by the Company had it been the act or omission of the
Company and which is not cured within the applicable cure period, shall constitute a breach of
the Sublicence agreement with the Company entitling the Company to terminate the Sublicence,
and the Company hereby undertakes to inform Yeda forthwith upon receipt of knowledge by the
Company of such breach and, at the request of Yeda, and at the Company&#146;s cost and expense, to
exercise such right of termination.</TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" nowrap align="left">7.5.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>For the removal of doubt, the Company shall not be entitled to grant, directly or indirectly,
to any person or entity any right of whatsoever nature to exploit or use in any way the
Licensed Information or the Patents or to develop, manufacture, produce and/or sell the
Products or any part of any of the aforegoing, save by way of Sublicence</TD>
</TR>

</TABLE>
</DIV></DIV>
<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>
<DIV style="font-family: Helvetica,Arial,sans-serif">
<P align="center" style="font-size: 10pt"><!-- Folio -->- 25 -<!-- /Folio -->

<DIV style="margin-top: 6pt"><TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">


<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" nowrap align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>within the meaning of such term in clause 1.2.11 above and subject to the conditions
of this clause 7 relating to any such grant.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" nowrap align="left">7.6.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Nothing contained in this Agreement shall be deemed to be a representation or warranty,
express or implied, by Yeda that the Existing Patent Applications or any of them or any patent
applications relating to the Licensed Information or any portion thereof will be granted or
that patents obtained on any of the said patent applications are or will be valid or will
afford proper protection or that the Invention or any other portion of the Licensed
Information are or will be commercially exploitable or of any other value or that the
exploitation of the Patents, the Invention or the Licensed Information will not infringe the
rights of any third party.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" nowrap align="left">7.7.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Notwithstanding the aforesaid in this clause 7, the Company may grant Sublicences to
subcontractors solely to manufacture the Products or solely to perform research and
development services related to the Products on its behalf without obtaining Yeda&#146;s consent,
provided that: (i)&nbsp;the terms of clauses 7.4.2, 7.4.4.1, 7.4.4.2, 7.4.4.3 (to the extent
relating to clauses 12.2 and 12.3 (but not 12.1)), 7.4.4.4 and 7.4.5 above are observed; (ii)
the proposed Sublicence is made by written agreement, the provisions of which are consistent
with the terms of the Licence; (iii)&nbsp;the Company is jointly and severally liable with the
subcontractor to Yeda for any obligations owed to or damage caused to Yeda in connection with
or resulting from the grant of such Sublicence; (iv)&nbsp;such Sublicence shall not be assignable,
further sublicenseable or otherwise transferable without the prior written consent of Yeda;
and (v)&nbsp;such subcontractor is not granted any additional right under the Licence other than
the right solely to manufacture the Products or solely to perform the research and development
services, in both cases as subcontractor for the Company.</TD>
</TR>

</TABLE>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt">8. <U><B>DEVELOPMENT AND COMMERCIALIZATION</B></U>
</DIV>


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" nowrap align="left">8.1.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Within &#091;***&#093;of the date of signature of this Agreement, the Company shall submit to Yeda a
Development Program for the development of Products (such Development Program, as approved by
Yeda, <B>&#147;the Initial Development Program&#148;</B>).</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" nowrap align="left">8.2.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>The Company undertakes, &#091;***&#093; to take all necessary steps to develop and commercialise the
Products and, without derogating from the generality of the foregoing, to use its best efforts
to expedite the commencement of the commercial sale of the Products. For</TD>
</TR>

</TABLE>
</DIV>
<DIV align="left">
<DIV style="font-size: 3pt; margin-top: 16pt; width: 18%; border-top: 0px solid #000000">&nbsp;</DIV>
</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">
<TR>
    <TD width="3%"></TD>
    <TD width="1%"></TD>
    <TD width="96"></TD>
</TR>

<TR valign="top">
    <TD nowrap align="left">&#091;***&#093;</TD>
    <TD>&nbsp;</TD>
    <TD>Portions of this exhibit were omitted and filed separately
with the Secretary of the Securities and Exchange Commission pursuant
to the Registrant&#146;s application requesting confidential
treatment under Rule&nbsp;24b-2 of the Exchange Act.</TD>
</TR>

</TABLE>
</DIV>
<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>
<DIV style="font-family: Helvetica,Arial,sans-serif">
<P align="center" style="font-size: 10pt"><!-- Folio -->- 26 -<!-- /Folio -->

<DIV style="margin-top: 6pt"><TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">


<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" nowrap align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>such purpose and without derogating from the generality of the aforegoing, the Company
shall carry out and/or have a third party carry out on its behalf the performance of
the trials, tests and other works and activities detailed in the Initial Development
Program and in all further Development Programs (if any) submitted pursuant to clause
8.5 below, in accordance with the respective timetables included therein. The Company
further undertakes to continue with commercialisation of the Products diligently
throughout the period of the Licence. Without prejudice to the foregoing, the Company
undertakes to comply with all the requirements of the Magneton Approval, including
that it will perform all development activities necessary in order to meet any
milestones set out therein.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" nowrap align="left">8.3.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>The Company shall provide Yeda on December&nbsp;31 of each calendar year with written progress
reports (<B>&#147;Progress Reports&#148;</B>) which shall include detailed descriptions of the progress and
results, if any, of: (i)&nbsp;the tests and trials (if applicable) conducted and all other actions
taken by the Company pursuant to the Initial Development Program or any other Development
Program delivered and approved pursuant to clause 8.5 below; (ii)&nbsp;manufacturing, sublicensing,
marketing and sales during the preceding 12 (twelve)&nbsp;months; (iii)&nbsp;the Company&#146;s plans in
respect of the testing, undertaking of trials (if applicable) or commercialisation of Products
for the following 12 (twelve)&nbsp;months; (iv)&nbsp;projections of sales and marketing efforts; and (v)
a summary of all protocols or minutes of meetings with the FDA, EMEA or any other regulatory
authority in connection with any Product and copies of any opinions, decisions, and approvals
issued by any of the aforementioned authorities. If the Company has provided a Development
Program for more than 1 (one)&nbsp;Product, then such Progress Report shall provide such
information separately for each such Product. If progress in respect of a Product differs
from that anticipated in its Development Program or preceding Progress Report, then the
Company shall explain, in its Progress Report, the reason therefor and prepare a modified
Development Program for Yeda&#146;s review. The Company shall also provide any reasonable
additional data that Yeda requires to evaluate the performance of the Company hereunder.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" nowrap align="left">8.4.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>For the removal of doubt, without derogating from the remaining provisions of this clause 8
or of clause 13.2 below, nothing contained in this Agreement shall be construed as a warranty
by the Company that any Development Program to be carried out by it as aforesaid will actually
achieve its aims and the Company makes no warranties</TD>
</TR>

</TABLE>
</DIV></DIV>
<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>
<DIV style="font-family: Helvetica,Arial,sans-serif">
<P align="center" style="font-size: 10pt"><!-- Folio -->- 27 -<!-- /Folio -->

<DIV style="margin-top: 6pt"><TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">


<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" nowrap align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>whatsoever as to any results to be achieved in consequence of the carrying out of any
such Development Program.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" nowrap align="left">8.5.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Without derogating from the obligations of the Company pursuant to this clause 8 or from the
provisions of clause 13.2 below, in the event that the Company shall wish to develop and/or
commercialise Products in addition to those specified in the Initial Development Program or to
update the Initial Development Program, the Company shall submit to Yeda a further Development
Program in respect of such additional Products or updates and the provisions of this clause 8
shall apply also with respect to such further Development Program and to the development and
commercialisation of such additional Products, <I>mutatis mutandis</I>.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" nowrap align="left">8.6.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>The Company agrees to supply to Yeda and/or the Institute, for (and in quantities customary
for) academic research purposes, any Products developed and/or manufactured and/or produced
under this Agreement at no cost to Yeda, the Institute or the Scientists.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" nowrap align="left">8.7.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>The Company shall mark, and cause all its Sublicensees and Further Sublicensees to mark, all
Products that are manufactured or sold under this Agreement with the number or numbers of each
Patent applicable to such Product.</TD>
</TR>

</TABLE>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt">9. <U><B>ROYALTIES</B></U>
</DIV>


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" nowrap align="left">9.1.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>In consideration for the grant of the Licence, the Company shall pay Yeda a non-refundable
licence fee of US $&#091;***&#093; per year (or part thereof) during the term of this Agreement (<B>&#147;the
Annual Licence Fee&#148;</B>) to be paid in advance at the beginning of each 1 (one)&nbsp;year period during
the term of this Agreement, commencing on the fifth (5<SUP style="font-size: 85%; vertical-align: text-top">th</SUP>) anniversary of the date
of signature of this Agreement and until (and including) the nineteenth (19<SUP style="font-size: 85%; vertical-align: text-top">th</SUP>)
anniversary thereof. For the removal of doubt, the first Annual Licence Fee shall be paid on
the fifth (5<SUP style="font-size: 85%; vertical-align: text-top">th</SUP>) anniversary of the date of signature of this Agreement and
thereafter on each anniversary of the date of signature of this Agreement until (and
including) the nineteenth (19<SUP style="font-size: 85%; vertical-align: text-top">th</SUP>) anniversary thereof. The amount of the Annual
Licence Fee paid by the Company as aforesaid shall be credited against royalties and/or other
payments due and payable by the Company pursuant to clause 9.2 below during the 1 (one)&nbsp;year
period in respect of which the Company shall have paid such Annual Licence Fee provided that
the total amount of such royalties and other payments so payable during such 1 (one)&nbsp;year
period exceeds US&#091;***&#093;. For the removal of</TD>
</TR>

</TABLE>
</DIV>



<DIV align="left">
<DIV style="font-size: 3pt; margin-top: 16pt; width: 18%; border-top: 0px solid #000000">&nbsp;</DIV>
</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">
<TR>
    <TD width="3%"></TD>
    <TD width="1%"></TD>
    <TD width="96"></TD>
</TR>

<TR valign="top">
    <TD nowrap align="left">&#091;***&#093;</TD>
    <TD>&nbsp;</TD>
    <TD>Portions of this exhibit were omitted and filed separately
with the Secretary of the Securities and Exchange Commission pursuant
to the Registrant&#146;s application requesting confidential
treatment under Rule&nbsp;24b-2 of the Exchange Act.</TD>
</TR>

</TABLE>
<P align="center" style="font-size: 10pt"><!-- Folio -->&nbsp;<!-- /Folio -->
</DIV>
<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>
<DIV style="font-family: Helvetica,Arial,sans-serif">


<DIV align="center" style="font-size: 10pt; margin-top: 18pt">- 28 -
</DIV>


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="6%" nowrap align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>doubt the amount of the Annual Licence Fee paid for a particular 1 (one)&nbsp;year period
cannot be credited against royalties payable during another 1 (one)&nbsp;year period.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="6%" nowrap align="left">9.2.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>In addition to the above, the Company shall pay Yeda royalties at the rate of:</TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="8%" nowrap align="left">9.2.1.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>&#091;***&#093; of Net Sales of Products used to treat Gaucher disease and</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="8%" nowrap align="left">9.2.2.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>&#091;***&#093; of Net Sales of Products used for other indications; provided that in the event that
there are any sales of a Product in any country that are not, at the time of such sales,
covered by a Valid Patent Claim (as defined below) in such country, then the royalty rate
referred to in this clause 9.2 shall, with respect to Net Sales of such Product made in such
country during the period such Product is not so covered by a Valid Patent Claim as aforesaid,
be reduced to &#091;***&#093;for Products used to treat Gaucher disease and &#091;***&#093; for Products used for
other indications. For the purposes of this clause 9.2, &#147;<B>Valid Patent Claim</B>&#148; shall mean (i)&nbsp;a
claim under an issued and unexpired patent which is included in the Patents; (ii)&nbsp;a claim in a
pending patent application (including a provisional application) which is included in the
Patents; (iii)&nbsp;any protection for such Product due to &#147;Orphan Drug&#148; status (as referred to in
clause 6.1.3 above); or (iv)&nbsp;data exclusivity or data protection or by any other regulations
and/or provisions granting similar statutory or regulatory protection of such Product in such
country.</TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="6%" nowrap align="left">9.3.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>The Company shall additionally pay Yeda the following royalty in respect of the Sublicensing
Receipts:</TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="8%" nowrap align="left">9.3.1.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>&#091;***&#093; of all Sublicensing Receipts received pursuant to or in connection with Sublicences
(or options for a Sublicence) signed prior to the date of submission by the Company of an
Investigational New Drug Application (IND)&nbsp;to the FDA or equivalent EMEA approval with respect
to any Product;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="8%" nowrap align="left">9.3.2.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>&#091;***&#093; of all Sublicensing Receipts received pursuant to or in connection with Sublicences
(or options for a Sublicence) signed on or after the date of the submission of an IND
application as aforesaid but prior to the date of commencement of phase III clinical trials
with respect to any Product;</TD>
</TR>

</TABLE>
</DIV>
<DIV align="left">
<DIV style="font-size: 3pt; margin-top: 16pt; width: 18%; border-top: 0px solid #000000">&nbsp;</DIV>
</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">
<TR>
    <TD width="3%"></TD>
    <TD width="1%"></TD>
    <TD width="96"></TD>
</TR>

<TR valign="top">
    <TD nowrap align="left">&#091;***&#093;</TD>
    <TD>&nbsp;</TD>
    <TD>Portions of this exhibit were omitted and filed separately
with the Secretary of the Securities and Exchange Commission pursuant
to the Registrant&#146;s application requesting confidential
treatment under Rule&nbsp;24b-2 of the Exchange Act.</TD>
</TR>

</TABLE>
</DIV>
<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>
<DIV style="font-family: Helvetica,Arial,sans-serif">
<P align="center" style="font-size: 10pt"><!-- Folio -->- 29 -<!-- /Folio -->

<DIV style="margin-top: 6pt"><TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">


<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="8%" nowrap align="left">9.3.3.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>&#091;***&#093; of all Sublicensing Receipts received pursuant to or in connection with Sublicences
(or options for a Sublicence) signed on or after the date of commencement of phase III
clinical trials as aforesaid but prior to the date of FDA or EMEA approval of any Product; and</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="8%" nowrap align="left">9.3.4.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>&#091;***&#093; of all Sublicensing Receipts received pursuant to or in connection with Sublicences
(or options for a Sublicence) signed on or after the date of FDA or EMEA approval.</TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="6%" nowrap align="left">9.4.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>For the removal of doubt, the Company undertakes that all sales (within the meaning of such
term in clause 1.3.4 above) of Products by the Company and each Sublicensee or Further
Sublicensee (as the case may be) shall be for cash consideration only.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="6%" nowrap align="left">9.5.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>In calculating Net Sales and Sublicensing Receipts, all amounts shall be expressed in US
Dollars and any amount received or invoiced in a currency other than US Dollars shall be
translated into US Dollars, for the purposes of calculation, in accordance with the Exchange
Rate between the US Dollar and such currency on the date of such receipt or invoice, as the
case may be. For the removal of doubt, in calculating amounts received by the Company,
whether by way of Net Sales or Sublicensing Receipts, any amount deducted or withheld in
connection with any such payment on account of taxes on net income (including income taxes,
capital gains tax, taxes on profits or taxes of a similar nature) payable by the Company in
any jurisdiction, shall be deemed, notwithstanding such deduction or withholding, to have been
received by the Company. In the event that the Sublicensing Receipts comprise, in whole or in
part, non-cash consideration (including shares or other securities of the Sublicensee or
Further Sublicensee or any other entity), then the Company agrees, promptly upon Yeda&#146;s
request, to execute and deliver such documents and instruments and do any other acts as may be
necessary, so that Yeda receives the percentage share of such non-cash consideration as
provided in clause 9.2.</TD>
</TR>

</TABLE>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt">9.6.
</DIV>


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="8%" nowrap align="left">9.6.1.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Amounts payable to Yeda in terms of this clause 9 shall be paid to Yeda in US Dollars: (i)
in the case of Net Sales, on a &#091;***&#093;and no later than &#091;***&#093; after the end of each &#091;***&#093;,
commencing with the first &#091;***&#093; in which any Net Sales are made by the Company; or (ii)&nbsp;in the
case of Sublicensing Receipts, no later than &#091;***&#093; after any such Sublicensing Receipts are
received by the Company from any Sublicensees or Further Sublicensees.</TD>
</TR>

</TABLE>
</DIV>
<DIV align="left">
<DIV style="font-size: 3pt; margin-top: 16pt; width: 18%; border-top: 0px solid #000000">&nbsp;</DIV>
</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">
<TR>
    <TD width="3%"></TD>
    <TD width="1%"></TD>
    <TD width="96"></TD>
</TR>

<TR valign="top">
    <TD nowrap align="left">&#091;***&#093;</TD>
    <TD>&nbsp;</TD>
    <TD>Portions of this exhibit were omitted and filed separately
with the Secretary of the Securities and Exchange Commission pursuant
to the Registrant&#146;s application requesting confidential
treatment under Rule&nbsp;24b-2 of the Exchange Act.</TD>
</TR>

</TABLE>
</DIV>
<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>
<DIV style="font-family: Helvetica,Arial,sans-serif">
<P align="center" style="font-size: 10pt"><!-- Folio -->- 30 -<!-- /Folio -->

<DIV style="margin-top: 6pt"><TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">



</TABLE>
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="8%" nowrap align="left">9.6.2.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>The Company shall submit to Yeda: (i)&nbsp;no later than &#091;***&#093; days after the end of each &#091;***&#093;,
commencing with the first &#091;***&#093; in which any Net Sales are made; and (ii)&nbsp;no later than &#091;***&#093;
after any Sublicensing Receipts are received, an interim written report setting out amounts
owing to Yeda in respect of such Sublicensing Receipts, a full and detailed report, in a form
acceptable to Yeda, certified as being correct by the chief financial officer of the Company,
setting out all amounts owing to Yeda in respect of such previous
&#091;***&#093; to which the report
refers, and with full details of:</TD>
</TR>

</TABLE>
</DIV>
<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="10%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="86%">&nbsp;</TD>
</TR>
<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">9.6.2.1.
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">(i)
</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">the sales made by the Company, Sublicensees and, if applicable, Further Sublicensees,
including a breakdown of Net Sales according to country, identity of seller, currency of
sales, dates of invoices, number and type of Products sold;</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">(ii)
</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">the Sublicensing Receipts, including a
breakdown of Sublicensing Receipts according to identity of
Sublicensees and, if applicable, Further Sublicensees, countries,
the currency of the payment and date of receipt thereof;</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">(iii)
</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">deductions applicable, as provided in the definition of &#147;Net Sales&#148;; and</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="8%" nowrap align="left">9.6.2.2.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>any other matter necessary to enable the determination of the amounts of royalties payable
hereunder.</TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="6%" nowrap align="left">9.7.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>The Company shall keep and shall cause Sublicensees (and, if applicable, Further
Sublicensees) to keep complete, accurate and correct books of account and records consistent
with sound business and accounting principles and practices and in such form and in such
details as to enable the determination of the amounts due to Yeda in terms hereof. The
Company shall supply Yeda at the end of each calendar year, commencing with the first calendar
year in which any amount is payable by the Company to Yeda under this clause 9, a report
signed by the Company&#146;s independent auditors in respect of the amounts due to Yeda pursuant to
this clause 9 in respect of the year covered by the said report and containing details in
accordance with clause 9.6 above in respect of the quarterly reports. The Company shall
retain and shall require and cause its Sublicensees (and, if applicable, Further Sublicensees)
to retain the aforegoing</TD>
</TR>

</TABLE>
<DIV align="left">
<DIV style="font-size: 3pt; margin-top: 16pt; width: 18%; border-top: 0px solid #000000">&nbsp;</DIV>
</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">
<TR>
    <TD width="3%"></TD>
    <TD width="1%"></TD>
    <TD width="96"></TD>
</TR>

<TR valign="top">
    <TD nowrap align="left">&#091;***&#093;</TD>
    <TD>&nbsp;</TD>
    <TD>Portions of this exhibit were omitted and filed separately
with the Secretary of the Securities and Exchange Commission pursuant
to the Registrant&#146;s application requesting confidential
treatment under Rule&nbsp;24b-2 of the Exchange Act.</TD>
</TR>

</TABLE>

</DIV></DIV>
<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>
<DIV style="font-family: Helvetica,Arial,sans-serif">
<P align="center" style="font-size: 10pt"><!-- Folio -->- 31 -<!-- /Folio -->

<DIV style="margin-top: 6pt"><TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">
<TR valign="top" style="font-size: 10pt; color: #textcolor#; background: #bgcolor#">
    <TD width="6%" nowrap align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>books of account for 6 (six)&nbsp;years after the end of each calendar year during the
period of this Agreement, and, if this Agreement is terminated for any reason
whatsoever, for 6 (six)&nbsp;years after the end of the calendar year in which such
termination becomes effective.</TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="6%" nowrap align="left">9.8.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>At Yeda&#146;s expense, Yeda shall be entitled to appoint representatives to inspect during normal
business hours and to make copies of the Company&#146;s and Sublicensees&#146; (and, if applicable,
Further Sublicensees&#146;) books of account, records and other documentation (including technical
data and lab books) to the extent relevant or necessary for the ascertainment or verification
of the amounts due to Yeda under this clause 9, provided however that Yeda shall coordinate
such inspection with the Company or Sublicensee or such Further Sublicensee (as the case may
be) in advance. The Company shall take all steps necessary (or in the case of its
Sublicensees or, if applicable, Further Sublicensees, use its best efforts) to ensure that all
such books of account, records and other documentation of the Company and its Sublicensees
(and, if applicable, Further Sublicensees) are available for inspection as aforesaid at a
single location for each of the Company and its Sublicensees (and, if applicable, Further
Sublicensees). In the event that any inspection as aforesaid reveals any underpayment by the
Company to Yeda in respect of any year of the Agreement in an amount
exceeding &#091;***&#093; of the
amount actually paid by the Company to Yeda in respect of such year then the Company shall (in
addition to paying Yeda the shortfall together with interest thereon in accordance with clause
13.4 below), bear the costs of such inspection. The parties agree that the inspection of
technical data and lab books as aforesaid may only be conducted for the purposes of
determining whether the product developed, manufactured, sold, marketed, distributed and/or
used by the Company and/or Sublicensee or Further Sublicensee is a Product, such inspection to
be carried out by a representative of Yeda who is bound by an obligation of confidentiality.
The provisions of this clause 9 shall survive the termination of this Agreement for whatsoever
reason.</TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left">10.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD><U><B>CONFIDENTIALITY</B></U></TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="6%" nowrap align="left">10.1.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>The Company shall maintain in confidence all information or data relating to the Patents,
the Licensed Information, this Agreement and the terms hereof (hereinafter, collectively
referred to as <B>&#147;the Confidential Information&#148;</B>), except and to the extent that the Company can
prove that any such information or data is in the public domain at the date of the signing
hereof or becomes part of the</TD>
</TR>

</TABLE>
<DIV align="left">
<DIV style="font-size: 3pt; margin-top: 16pt; width: 18%; border-top: 0px solid #000000">&nbsp;</DIV>
</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">
<TR>
    <TD width="3%"></TD>
    <TD width="1%"></TD>
    <TD width="96"></TD>
</TR>

<TR valign="top">
    <TD nowrap align="left">&#091;***&#093;</TD>
    <TD>&nbsp;</TD>
    <TD>Portions of this exhibit were omitted and filed separately
with the Secretary of the Securities and Exchange Commission pursuant
to the Registrant&#146;s application requesting confidential
treatment under Rule&nbsp;24b-2 of the Exchange Act.</TD>
</TR>

</TABLE>

</DIV></DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>
<DIV style="font-family: Helvetica,Arial,sans-serif">
<P align="center" style="font-size: 10pt"><!-- Folio -->- 32 -<!-- /Folio -->

<DIV style="margin-top: 6pt"><TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">
<TR valign="top" style="font-size: 10pt; color: #textcolor#; background: #bgcolor#">
    <TD width="6%" nowrap align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>public domain thereafter (other than through a violation by the Company or a
Sublicensee or Further Sublicensee of this obligation of confidentiality) and except
with regard to that portion, if any, of the Confidential Information expressly
released by Yeda from this obligation of confidentiality by notice in writing to the
Company to such effect. Notwithstanding the foregoing, the Company may disclose to
its personnel and Sublicensees the Confidential Information to the extent necessary
for the exercise by it of its rights hereunder or in the fulfilment of its obligations
hereunder, provided that it shall bind such personnel and such Sublicensees with a
similar undertaking of confidentiality in writing. The Company shall be responsible
and liable to Yeda for any breach by its personnel or any Sublicensee of such
undertakings of confidentiality as if such breach were a breach by the Company itself.</TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="6%" nowrap align="left">10.2.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>In addition to and without derogating from the aforegoing, the Company undertakes not to
make mention of the names of Yeda, the Inventors, the Institute or any scientists or other
employees of the Institute or any employee of Yeda in any manner or for any purpose whatsoever
in relation to this Agreement, its subject-matter and any matter arising from this Agreement
or otherwise, other than as set out in clause 10.3 below.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="6%" nowrap align="left">10.3.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Notwithstanding the provisions of clauses 10.1 and 10.2 above, the Company shall not be
prevented from mentioning the name of Yeda, the Inventors, the Institute and/or any scientists
or other employees of the Institute or any employee of Yeda or from disclosing any information
(i)&nbsp;if, and to the extent that, such mention or disclosure is to competent authorities for the
purposes of obtaining approval or permission for the exercise of the Licence, or in the
fulfilment of any legal duty owed to any competent authority (including a duty to make
regulatory filings); provided that any mention in a private placement memorandum or a public
offering registration statement shall not be deemed fulfilment of a legal duty to a competent
authority, and any such mention shall be subject to Yeda&#146;s consent, which consent shall not be
withheld unreasonably, or (ii)&nbsp;provided that such disclosure is in the form attached hereto as
<B>Appendix&nbsp;G</B>.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="6%" nowrap align="left">10.4.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>No termination of this Agreement, for whatever reason, shall release the Company from any of
its obligations under this clause 10 and such obligations shall survive any termination as
aforesaid.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="6%" nowrap align="left">10.5.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Yeda shall maintain in confidence all information received by Yeda from the Company which
has been designated by the Company in</TD>
</TR>

</TABLE>
</DIV></DIV>
<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>
<DIV style="font-family: Helvetica,Arial,sans-serif">
<P align="center" style="font-size: 10pt"><!-- Folio -->- 33 -<!-- /Folio -->

<DIV style="margin-top: 6pt"><TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">
<TR valign="top" style="font-size: 10pt; color: #textcolor#; background: #bgcolor#">
    <TD width="6%" nowrap align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>writing and in advance as confidential, except and to the extent that: (i)&nbsp;any such
information or data is in the public domain at the date of the signing hereof or
becomes part of the public domain thereafter (other than through a violation by Yeda
of this obligation of confidentiality) or is released by the Company from this
obligation of confidentiality by notice in writing; (ii)&nbsp;Yeda is required to disclose
such information in order to fulfil its obligations under this Agreement (including in
connection with the filing and prosecution of patent applications in accordance with
the provisions of clause 6 above); or (iii)&nbsp;Yeda is required to disclose such
information in fulfilment of any legal duty owed to any competent authority (the
Company hereby acknowledging that it is aware that such competent authority may not be
bound by any confidentiality obligations and may disclose or be required to disclose
such information to a third party, whether by order of court or by law or otherwise).
For the removal of doubt, the provisions of this clause 10.5 shall not apply in
respect of any information (not being Licensed Information) independently developed at
the Institute without reference to the confidential information received from the
Company.</TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="6%" nowrap align="left">10.6.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>In addition to but without derogating from the aforegoing, Yeda undertakes not to make
mention of the names of the Company or any employees thereof in any manner or for any purpose
whatsoever in relation to this Agreement, its subject-matter and any matter arising from this
Agreement or otherwise, unless the prior written approval of the Company thereto has been
obtained. The aforegoing notwithstanding, Yeda shall not be prevented from mentioning the
names of the Company or any employees thereof if and to the extent that such mention is to any
competent authority in the fulfilment of any duty owed to such authority or that such mention
is required for the purpose of fulfilling Yeda&#146;s obligations hereunder.</TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="6%" nowrap align="left">10.7.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>For the removal of doubt, Yeda shall have the right to allow the scientists of the Institute
to publish articles relating to the Licensed Information in scientific journals or posters or
to give lectures or seminars to third parties relating to the Licensed Information, on the
condition that, to the extent that the information to be published or disclosed is Licensed
Information which is not in the public domain, a draft copy of the said contemplated
publication or disclosure shall have been furnished to the Company at least 45 (forty-five)
days before the making of any such publication or disclosure and the Company shall have failed
to notify Yeda in writing, within 21 (twenty one) days from receipt of the said draft
publication or disclosure, of its opposition to the making of the contemplated publication or</TD>
</TR>

</TABLE>
</DIV></DIV>
<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>
<DIV style="font-family: Helvetica,Arial,sans-serif">
<P align="center" style="font-size: 10pt"><!-- Folio -->- 34 -<!-- /Folio -->

<DIV style="margin-top: 6pt"><TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">
<TR valign="top" style="font-size: 10pt; color: #textcolor#; background: #bgcolor#">
    <TD width="6%" nowrap align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>disclosure. Should the Company notify Yeda in writing within 21 (twenty one) days
from the receipt of the draft contemplated publication or disclosure that it opposes
the making of such publication or disclosure because it includes material (which has
been specified in said notice) in respect of which there are reasonable grounds (which
have also been specified in said notice) requiring the postponement of such
publication or disclosure so as not adversely to affect the Company&#146;s interests under
the Licence because such Licensed Information is patentable subject-matter for which
patent protection pursuant to clause 6.1 above should be sought, then Yeda shall not
permit such publication or disclosure unless and until there shall first have been
filed an appropriate patent application in respect of the material to be published or
disclosed as aforesaid. The Company acknowledges that it is aware of the importance
to the researchers of publishing their work and, accordingly, the Company will use its
best efforts not to oppose such publications.</TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="6%" nowrap align="left">10.8.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Yeda&#146;s obligations under this clause 10 (other than this clause 10.8) shall terminate upon
termination of this Agreement; provided, however, that any transfer by Yeda following such
termination of information received from the Company which it was previously required to keep
confidential pursuant to clause 10.5 above shall only be made following the signature by the
potential transferee thereof of a non-disclosure agreement with Yeda substantially in the form
of the specimen agreement attached hereto as <B>Appendix&nbsp;H</B>.</TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left">11.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD><U><B>NO ASSIGNMENT</B></U></TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="6%" nowrap align="left">11.1.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>The Company shall not be entitled to assign or encumber all or any of its rights or
obligations under this Agreement or arising therefrom, unless it shall have received the prior
written consent of Yeda to such assignment or encumbrance, which consent shall not be
unreasonably withheld, and Yeda&#146;s response to a request for consent as aforesaid shall not be
unreasonably delayed, and which consent, if given, may be conditioned by Yeda on, <I>inter alia</I>,
the payment of a fee or other consideration in relation thereto (including, if so conditioned
by Yeda, that any consideration received by the Company in respect of an assignment to which
Yeda consents as aforesaid shall be deemed to be Sublicensing Receipts and the provisions of
clause 9 above shall apply with respect thereto, <I>mutatis mutandis</I>). For the purposes of this
clause 11, the merger of the Company with another entity, in the event that the Company is not
the surviving entity, and the sale of all or substantially all of the</TD>
</TR>

</TABLE>
</DIV></DIV>
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<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>
<DIV style="font-family: Helvetica,Arial,sans-serif">
<P align="center" style="font-size: 10pt"><!-- Folio -->- 35 -<!-- /Folio -->

<DIV style="margin-top: 6pt"><TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">
<TR valign="top" style="font-size: 10pt; color: #textcolor#; background: #bgcolor#">
    <TD width="6%" nowrap align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Company&#146;s assets or business to a third party shall be deemed to be an assignment.</TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="6%" nowrap align="left">11.2.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Notwithstanding the aforegoing, the merger of the Company with another entity as described
in clause 11.1 above or the sale of all or substantially all of the assets or the business of
the Company to a third party (collectively <B>&#147;the M&#038;A&#148;</B>) will not require the written consent of
Yeda as aforesaid if all of the following conditions are met: (i)&nbsp;the Company
provides written notice of the M&#038;A to Yeda at least 20 (twenty)&nbsp;days prior to the effective
date of the M&#038;A; (ii)&nbsp;Yeda receives from the assignee (or purchaser or surviving entity in a
merger, as the case may be), in writing, at least 10 (ten)&nbsp;days prior to the effective date of
the M&#038;A: (a)&nbsp;an undertaking to be bound by the terms of this Agreement; and (b)&nbsp;an undertaking
to perform the obligations of the Company under this Agreement; and (iii)&nbsp;that the Company is
not, as at the effective date of the M&#038;A, in breach of any of its obligations hereunder.</TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left">12.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD><U><B>EXCLUSION OF LIABILITY AND INDEMNIFICATION</B></U></TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="6%" nowrap align="left">12.1.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Yeda, the Inventors, the Institute and the directors, officers and employees of Yeda and/or
of the Institute (hereinafter collectively <B>&#147;the Indemnitees&#148;</B>) shall not be liable for any
claims, demands, liabilities, costs, losses, damages or expenses (including legal costs and
attorneys&#146; fees) of whatever kind or nature (all of the aforegoing, collectively,
<B>&#147;Liabilities&#148;</B>) caused to or suffered by any person or entity (including the Company or any
Sublicensee or Further Sublicensee) that directly or indirectly arise out of or result from or
are encountered in connection with this Agreement, the exercise of the Licence or the conduct
of the Research, including directly or indirectly arising out of or resulting from or
encountered in connection with: (i)&nbsp;the development, manufacture, sale or use of any of the
Products by the Company, any Sublicensee or Further Sublicensee or any person acting in the
name of or on behalf of any of the aforegoing, or acquiring, directly or indirectly, any of
the Products from any of the aforegoing; or (ii)&nbsp;the exploitation or use by the Company or any
Sublicensee or Further Sublicensee of the Licensed Information or any part thereof, including
of any data or information given, if given, in accordance with this Agreement.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="6%" nowrap align="left">12.2.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>In the event that any of the Indemnitees should incur or suffer any Liabilities that
directly or indirectly arise out of or result from or are encountered in connection with this
Agreement or the exercise of the Licence as aforesaid in clause 12.1 above, or shall be
requested or</TD>
</TR>

</TABLE>
</DIV></DIV>
<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>
<DIV style="font-family: Helvetica,Arial,sans-serif">
<P align="center" style="font-size: 10pt"><!-- Folio -->- 36 -<!-- /Folio -->

<DIV style="margin-top: 6pt"><TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">
<TR valign="top" style="font-size: 10pt; color: #textcolor#; background: #bgcolor#">
    <TD width="6%" nowrap align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>obliged to pay to any person or entity any amount whatsoever as compensation for any
Liabilities as aforesaid in clause 12.1 above, then the Company shall indemnify and
hold harmless such Indemnitees from and against any and all such Liabilities. Without
limiting the generality of the aforegoing, the Company&#146;s indemnification as aforesaid
and the exclusion of liability in clause 12.1 above shall extend to product liability
claims and to damages, claims, demands, liabilities, losses, costs and expenses
attributable to death, personal injury or property damage or to penalties imposed on
account of the violation of any law, regulation or governmental requirement.</TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="6%" nowrap align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>If an action as contemplated by this clause 12 is brought against any Indemnitee, Yeda
shall, or shall procure that such Indemnitee shall, notify the Company promptly in
writing of such claim. Yeda may, at its sole option, allow the Company, at the
Company&#146;s expense, to assume control over defending such claim, in which case it will
provide the Company with reasonable assistance and any information reasonably required
for such defence, at the Company&#146;s expense; provided that if the Company shall assume
control over the defence of such claim, no settlement, consent order, consent judgment
or other voluntary final disposition of such action may be entered into without the
prior written consent of Yeda.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="6%" nowrap align="left">12.3.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>The Company shall at its own expense insure its liability pursuant to clause 12.2 above
during the period beginning not later than the date of the commencement of the first clinical
studies or clinical trials of any Product in humans and continuing during the entire period
that the Licence is in force in any country, plus an additional period of 7 (seven)&nbsp;years.
Such insurance shall be in reasonable amounts and on reasonable terms in the circumstances,
having regard, in particular, to the nature of the Products, and shall be subscribed for from
a reputable insurance company. The named insured under such insurances shall be the Company,
the Inventors, Yeda and the Institute and the beneficiaries thereof shall include also the
respective employees, officers and directors of Yeda and the Institute. The policy or
policies so issued shall include a &#147;cross-liability&#148; provision pursuant to which the insurance
is deemed to be separate insurance for each named insured (without right of subrogation as
against any of the insured under the policy, or any of their representatives, employees,
officers, directors or anyone in their name) and shall further provide that the insurer will
be obliged to notify each insured in writing at least 30 (thirty)&nbsp;days in advance of the
expiry or cancellation of the policy or policies. The Company</TD>
</TR>

</TABLE>
</DIV></DIV>
<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>
<DIV style="font-family: Helvetica,Arial,sans-serif">
<P align="center" style="font-size: 10pt"><!-- Folio -->- 37 -<!-- /Folio -->

<DIV style="margin-top: 6pt"><TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">
<TR valign="top" style="font-size: 10pt; color: #textcolor#; background: #bgcolor#">
    <TD width="6%" nowrap align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>hereby undertakes to comply punctually with all obligations imposed upon it under such
policy or policies and in particular, without limiting the generality of the
aforegoing, to pay in full and punctually all premiums and other payments for which it
is liable pursuant to such policy or policies. The Company shall be obliged to submit
to Yeda copies of the aforesaid insurance policy or policies within 14 (fourteen)&nbsp;days
of the date of issue of each such policy.</TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="6%" nowrap align="left">12.4.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>The provisions of this clause 12 shall survive the termination of this Agreement for
whatsoever reason.</TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left">13.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD><U><B>TERM AND TERMINATION</B></U></TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="6%" nowrap align="left">13.1.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Unless otherwise agreed to in writing, this Agreement shall terminate upon the occurrence of
the later of the following:</TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="8%" nowrap align="left">13.1.1.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>the date of expiry of the last of the Patents; or</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="8%" nowrap align="left">13.1.2.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>the expiry of a continuous period of 20 (twenty) years during which there shall not have been a First
Commercial Sale of any Product in any country.</TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="6%" nowrap align="left">13.2.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Notwithstanding anything to the contrary contained in this Agreement:</TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="8%" nowrap align="left">13.2.1.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Yeda shall be entitled, at its option: (i)&nbsp;to modify the Licence hereunder so that it is
non-exclusive only, by written notice to the Company (any such amendment of this Agreement by
Yeda as aforesaid, being effective immediately, the Company&#146;s consent thereto (written or
otherwise) not being required, notwithstanding the provisions of clause 17.2 below); or (ii)
to terminate this Agreement, including the Licence hereunder, with respect to any Product, by
written notice to the Company, if the Company shall fail to achieve any one of the following
milestones, in each case in respect of at least one Product, by the dates specified therefor:</TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="11%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">(1)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>within &#091;***&#093; of the signature of this
Agreement, to have commenced required Good Laboratory Practice (GLP)
pre-clinical development;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="11%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">(2)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>within &#091;***&#093; of the signature of this
Agreement, to have commenced phase I clinical trials;</TD>
</TR>

</TABLE>
<DIV align="left">
<DIV style="font-size: 3pt; margin-top: 16pt; width: 18%; border-top: 0px solid #000000">&nbsp;</DIV>
</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">
<TR>
    <TD width="3%"></TD>
    <TD width="1%"></TD>
    <TD width="96"></TD>
</TR>

<TR valign="top">
    <TD nowrap align="left">&#091;***&#093;</TD>
    <TD>&nbsp;</TD>
    <TD>Portions of this exhibit were omitted and filed separately
with the Secretary of the Securities and Exchange Commission pursuant
to the Registrant&#146;s application requesting confidential
treatment under Rule&nbsp;24b-2 of the Exchange Act.</TD>
</TR>

</TABLE>

</DIV>
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>
<DIV style="font-family: Helvetica,Arial,sans-serif">
<P align="center" style="font-size: 10pt"><!-- Folio -->- 38 -<!-- /Folio -->

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="11%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">(3)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>within &#091;***&#093; of the signature of this
Agreement, to have commenced phase II clinical trials;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="11%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">(4)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>within &#091;***&#093; of the signature of this
Agreement, to have commenced phase III clinical trials;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="11%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">(5)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>within &#091;***&#093; of the date of signature of
this Agreement, to have submitted a New Drug Application to the FDA
or a Marketing Authorisation Application (MAA)&nbsp;to the EMEA;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="11%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">(6)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>First Commercial Sale of at least one
Product shall not have commenced within &#091;***&#093; of the first Product
approval obtained as a result of an application submitted pursuant
to clause 13.2.1(a)(5); and</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="11%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">(7)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>commercial sale of any Product having
commenced, there shall be a period of &#091;***&#093; or more during which no
sales of any Product shall take place (except as a result of force
majeure or other factors beyond the control of the Company)</TD>
</TR>

</TABLE>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 11%">and shall fail to cure such delay within &#091;***&#093; of receipt of notice from
Yeda; provided that Yeda shall not be entitled to exercise its rights
pursuant to this clause 13.2.1 if 1) the Company shall demonstrate to the
satisfaction of Yeda that it is making all necessary efforts to achieve
such milestone and that such delay is due to factors beyond the control
of the Company; and 2) the total delay in respect of any one milestone
shall not under any circumstances exceed or have exceeded twelve months
and the cumulative total delay in respect of all milestones shall not
under any circumstances exceed or have exceeded thirty months.
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="8%" nowrap align="left">13.2.2.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Without derogating from the aforegoing, Yeda shall be entitled to terminate this Agreement
(unless previously terminated in accordance with the provisions of this Agreement), by written
notice to the Company (effective immediately), if the Company contests the validity of any of
the Patents.</TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="6%" nowrap align="left">13.3.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Without derogating from the parties&#146; rights hereunder or by law to any other or additional
remedy or relief, it is agreed that either Yeda or the Company may terminate this Agreement
and the Licence</TD>
</TR>

</TABLE>
<DIV align="left">
<DIV style="font-size: 3pt; margin-top: 16pt; width: 18%; border-top: 0px solid #000000">&nbsp;</DIV>
</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">
<TR>
    <TD width="3%"></TD>
    <TD width="1%"></TD>
    <TD width="96"></TD>
</TR>

<TR valign="top">
    <TD nowrap align="left">&#091;***&#093;</TD>
    <TD>&nbsp;</TD>
    <TD>Portions of this exhibit were omitted and filed separately
with the Secretary of the Securities and Exchange Commission pursuant
to the Registrant&#146;s application requesting confidential
treatment under Rule&nbsp;24b-2 of the Exchange Act.</TD>
</TR>

</TABLE>

</DIV></DIV>
<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>
<DIV style="font-family: Helvetica,Arial,sans-serif">
<P align="center" style="font-size: 10pt"><!-- Folio -->- 39 -<!-- /Folio -->

<DIV style="margin-top: 6pt"><TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">
<TR valign="top" style="font-size: 10pt; color: #textcolor#; background: #bgcolor#">
    <TD width="6%" nowrap align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>hereunder by serving a written notice to that effect on the other upon or after: (i)
the commitment of a material breach hereof by the other party, which material breach
cannot be cured or, if curable, which has not been cured by the party in breach within
21 (twenty-one) days (or, in the case of failure by the Company to pay any amount due
from the Company to Yeda pursuant to or in connection with this Agreement on or before
the due date of payment, 10 (ten)&nbsp;days) after receipt of a written notice from the
other party in respect of such breach, or (ii)&nbsp;the granting of a winding-up order in
respect of the other party, or upon an order being granted against the other party for
the appointment of a receiver, or if such other party passes a resolution for its
voluntary winding-up, or if a temporary or permanent liquidator or receiver is
appointed in respect of such other party, or if a temporary or permanent attachment
order is granted on such other party&#146;s assets, or a substantial portion thereof, or if
such other party shall seek protection under any laws or regulations, the effect of
which is to suspend or impair the rights of any or all of its creditors, or to impose
a moratorium on such creditors, or if anything analogous to any of the aforegoing in
this clause 13.3(ii) above under the laws of any jurisdiction occurs in respect of
such other party; provided that in the case that any such order or act is initiated by
any third party, the right of termination shall apply only if such order or act as
aforesaid is not cancelled within 60 (sixty)&nbsp;days of the grant of such order or the
performance of such act.</TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="6%" nowrap align="left">13.4.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Any amount payable hereunder by one of the parties to the other, that has not been paid by
its due date of payment, shall bear interest from its due date of payment until the date of
actual payment, at the rate of &#091;***&#093; per month and pro rata for part of a month.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="6%" nowrap align="left">13.5.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Upon the termination of this Agreement for whatever reason (other than the passage of time),
all rights in and to the Licensed Information and the Patents shall revert to Yeda and the
Company shall not be entitled to make any further use thereof and the Company shall deliver to
Yeda all drawings, plans, diagrams, specifications, other documentation, models or any other
physical matter in the Company&#146;s possession in any way containing, representing or embodying
the Licensed Information; and (ii)&nbsp;the Company shall grant to Yeda a non-exclusive,
irrevocable, perpetual, worldwide licence, with the right to sublicense (subject to the
provisions of clause 13.7 below), in respect of the Development Results. In this clause 13.5,
the term <B>&#147;the Development Results&#148; </B>shall mean any invention, product, material, method,
process, technique, know-how, data, information or other result which does</TD>
</TR>

</TABLE>
<DIV align="left">
<DIV style="font-size: 3pt; margin-top: 16pt; width: 18%; border-top: 0px solid #000000">&nbsp;</DIV>
</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">
<TR>
    <TD width="3%"></TD>
    <TD width="1%"></TD>
    <TD width="96"></TD>
</TR>

<TR valign="top">
    <TD nowrap align="left">&#091;***&#093;</TD>
    <TD>&nbsp;</TD>
    <TD>Portions of this exhibit were omitted and filed separately
with the Secretary of the Securities and Exchange Commission pursuant
to the Registrant&#146;s application requesting confidential
treatment under Rule&nbsp;24b-2 of the Exchange Act.</TD>
</TR>

</TABLE>

</DIV></DIV>
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<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>
<DIV style="font-family: Helvetica,Arial,sans-serif">
<P align="center" style="font-size: 10pt"><!-- Folio -->- 40 -<!-- /Folio -->

<DIV style="margin-top: 6pt"><TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">
<TR valign="top" style="font-size: 10pt; color: #textcolor#; background: #bgcolor#">
    <TD width="6%" nowrap align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>not form part of the Licensed Information, discovered or occurring in the course of or
arising from the performance by the Company of the development work pursuant to clause
8 above, including any regulatory filing or approval, filed or obtained by the Company
in respect of the Products, all communications with the regulatory authorities, the
drug master file and any data, information or document covered by data protection or
data exclusivity.</TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="6%" nowrap align="left">13.6.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>The termination of this Agreement for any reason shall not relieve the Company or Yeda of
any obligations which shall have accrued prior to such termination.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="6%" nowrap align="left">13.7.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>In the event that this Agreement shall be terminated, other than by way of termination by
Yeda pursuant to clause 13.2.2 or 13.3 above, and that, subject to the Magneton Directive
and/or the directives of the OCS, at any time within 5 (five)&nbsp;years following such
termination, Yeda shall grant to a third party a licence in respect of the Development Results
or any part thereof (alone or together with any part of the Licensed Information) and Yeda
shall receive in respect of such licence consideration, then Yeda shall pay to the Company
&#091;***&#093; of the Net Proceeds actually received by Yeda in respect of such a licence, provided
however that Yeda shall be entitled to set off against such amounts sums owed or which become
owed by the Company to Yeda, until such time as the Company shall have received an amount
equal to &#091;***&#093; of the Company&#146;s direct expenditure incurred in respect of the process of
obtaining the Development Results (excluding any Magneton or other OCS or other non-commercial
funding), as confirmed in writing by the Company&#146;s independent accountants. Yeda shall pay to
the Company amounts, if any, payable under this clause 13.7 above, within 90 (ninety)&nbsp;days of
receipt of the relevant Net Proceeds.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="6%" nowrap align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>For the purpose of this clause 13.7, <B>&#147;Net Proceeds&#148; </B>means royalties and all other
monetary consideration actually received by Yeda in respect of such licence (excluding
funds for research and/or development at the Institute or payments for the supply of
services) after deduction of all costs, fees and expenses incurred by Yeda in
connection with such licence (including, without limitation, patent related costs, and
all attorneys fees and expenses and other costs and expenses in connection with the
negotiation, conclusion and administration of such licence).</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="6%" nowrap align="left">13.8</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>For the avoidance of doubt, it is hereby agreed that following the expiry of the Licence in
any country pursuant to clause 7.3 above,</TD>
</TR>

</TABLE>
<DIV align="left">
<DIV style="font-size: 3pt; margin-top: 16pt; width: 18%; border-top: 0px solid #000000">&nbsp;</DIV>
</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">
<TR>
    <TD width="3%"></TD>
    <TD width="1%"></TD>
    <TD width="96"></TD>
</TR>

<TR valign="top">
    <TD nowrap align="left">&#091;***&#093;</TD>
    <TD>&nbsp;</TD>
    <TD>Portions of this exhibit were omitted and filed separately
with the Secretary of the Securities and Exchange Commission pursuant
to the Registrant&#146;s application requesting confidential
treatment under Rule&nbsp;24b-2 of the Exchange Act.</TD>
</TR>

</TABLE>

</DIV></DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>
<DIV style="font-family: Helvetica,Arial,sans-serif">
<P align="center" style="font-size: 10pt"><!-- Folio -->- 41 -<!-- /Folio -->

<DIV style="margin-top: 6pt"><TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">
<TR valign="top" style="font-size: 10pt; color: #textcolor#; background: #bgcolor#">
    <TD width="6%" nowrap align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>the Company and its Sublicensees shall be entitled to continue to produce,
manufacture, use, market, distribute and/or sell Products in the said country without
having to pay royalties or any other consideration to Yeda in respect of such
activities subsequent to such expiry date.</TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left">14.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD><U><B>NOTICES</B></U></TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Any notice or other communication required to be given by one party to the other under this
Agreement shall be in writing and shall be deemed to have been served: (i)&nbsp;if personally
delivered, when actually delivered; or (ii)&nbsp;if sent by facsimile, the next business day after
receipt of confirmation of transmission; or (iii)&nbsp;10 (ten)&nbsp;days after being mailed by
certified or registered mail, postage prepaid (for the purposes of proving such service&#151;it
being sufficient to prove that such notice was properly addressed and posted) to the
respective addresses of the parties set out below, or to such other address or addresses as
any of the parties hereto may from time to time in writing designate to the other party
hereto pursuant to this clause 14:</TD>
</TR>

</TABLE>
</DIV>
<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="4%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="20%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="64%">&nbsp;</TD>
</TR>
<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">14.1.
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">to Yeda at:
</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">P.O. Box 95</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Rehovot 76100</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top"><I>Attention: the CEO</I></TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top"><I>Facsimile: (08)&nbsp;9470739</I></TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">14.2.
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">to the Company at:
</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">2 Snunit St, Science Park</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">P.O. Box 455</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Carmiel 20100</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top"><I>Attention: the CEO</I></TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top"><I>Facsimile: (04)&nbsp;988 9489</I></TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left">15.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD><U><B>VALUE ADDED TAX</B></U></TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>The Company shall pay to Yeda all amounts of Value Added Tax imposed on Yeda in connection
with the transactions under this Agreement. All amounts referred to in this Agreement shall
be exclusive of Value Added Tax.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left">16.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD><U><B>GOVERNING LAW AND JURISDICTION</B></U></TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>This Agreement shall be governed in all respects by the laws of Israel and the parties hereby
submit to the exclusive jurisdiction of the competent Israeli courts, except that Yeda may
bring suit against the Company in any other jurisdiction outside Israel in which the Company
has assets or a place of business.</TD>
</TR>

</TABLE>
</DIV>
</DIV>
<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>
<DIV style="font-family: Helvetica,Arial,sans-serif">
<P align="center" style="font-size: 10pt"><!-- Folio -->- 42 -<!-- /Folio -->

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left">17.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD><U><B>MISCELLANEOUS</B></U></TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="6%" nowrap align="left">17.1.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>The headings in this Agreement are intended solely for convenience or reference and shall be
given no effect in the interpretation of this Agreement.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="6%" nowrap align="left">17.2.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>This Agreement constitutes the entire agreement between the parties hereto in respect of the
subject-matter hereof, and supersedes all prior agreements or understandings between the
parties relating to the subject-matter hereof (including the Memorandum of Understanding
between Yeda and the Company dated 29 November&nbsp;2005) and, subject to clause 13.2.1(i) above,
this Agreement may be amended only by a written document signed by both parties hereto. No
party has, in entering into this Agreement, relied on any warranty, representation or
undertaking, except as may be expressly set out herein.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="6%" nowrap align="left">17.3.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>This Agreement may be executed in any number of counterparts (including counterparts
transmitted by telecopier or fax), each of which shall be deemed to be an original, but all of
which taken together shall be deemed to constitute one and the same instrument.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="6%" nowrap align="left">17.4.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>No waiver by any party hereto, whether express or implied, of its rights under any provision
of this Agreement shall constitute a waiver of such party&#146;s rights under such provisions at
any other time or a waiver of such party&#146;s rights under any other provision of this Agreement.
No failure by any party hereto to take any action against any breach of this Agreement or
default by another party hereto shall constitute a waiver of the former party&#146;s rights to
enforce any provision of this Agreement or to take action against such breach or default or
any subsequent breach or default by such other party.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="6%" nowrap align="left">17.5.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>If any provision of this Agreement is held to be unenforceable under applicable law, then
such provision shall be modified as set out below and the balance of this Agreement shall be
interpreted as if such provision were so modified and shall be enforceable in accordance with
its terms. The parties shall negotiate in good faith in order to agree on the terms of an
alternative provision which complies with applicable law and achieves, to the greatest extent
possible, the same effect as would have been achieved by the invalid or unenforceable
provision.</TD>
</TR>

</TABLE>
</DIV>
</DIV>
<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>
<DIV style="font-family: Helvetica,Arial,sans-serif">
<P align="center" style="font-size: 10pt"><!-- Folio -->- 43 -<!-- /Folio -->

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="6%" nowrap align="left">17.6.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Nothing contained in this Agreement shall be construed to place the parties in a
relationship of partners or parties to a joint venture or to constitute either party an agent,
employee or a legal representative of the other party and neither party shall have power or
authority to act on behalf of the other party or to bind the other party in any manner
whatsoever.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="6%" nowrap align="left">17.7.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>All payments to be made to Yeda hereunder shall be made in US Dollars (save that payments
received by the Company in New Israeli Sheqels may be made in that currency) by banker&#146;s
cheque or by bank transfer to Yeda&#146;s bank account, the details of which are as follows: Bank
Hapoalim B.M. Rehovot branch #615, account no. &#091;***&#093;; swift: &#091;***&#093;.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="6%" nowrap align="left">17.8.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>All payments to be made to Yeda hereunder shall be made free and clear of, and without any
deduction for or on account of, any set-off, counterclaim or tax (except any deductions that
the Company is required to make from the payments to be made to Yeda on account of income tax,
tax on profit or any other taxes of a similar nature imposed on Yeda by law, (<B>&#147;withholding
tax&#148;</B>), provided that: (a)&nbsp;the Company shall immediately notify Yeda of such requirement and
the Company shall deduct the withholding tax from the payments referred to above, as
prescribed by applicable law, and pay such withholding tax to the tax authorities, unless Yeda
provides the Company with evidence of an exemption from such tax; and (b)&nbsp;any such deduction
(if any) made by the Company does not exceed the minimum amount legally required and is
supported by an official receipt of the applicable taxation authority for all amounts deducted
as aforesaid).</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="6%" nowrap align="left">17.9.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Each party agrees to execute, acknowledge and deliver such further documents and instruments
and do any other acts, from time to time, as may be reasonably necessary, to effectuate the
purposes of this Agreement.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="6%" nowrap align="left">17.10.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>None of the provisions of this Agreement shall be for the benefit of, or enforceable by, any
person who is not a party to this Agreement, save for clauses 10 and 12 above.</TD>
</TR>

</TABLE>
</DIV>
<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><B>IN WITNESS WHEREOF the parties hereto have set their signatures as of this 15&nbsp;day of March&nbsp;2006.</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 12pt">for&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <B>YEDA RESEARCH AND</B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
for&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <B>PROTALIX</B>
</DIV>


<DIV align="left">
<DIV style="font-size: 3pt; margin-top: 16pt; width: 18%; border-top: 0px solid #000000">&nbsp;</DIV>
</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">
<TR>
    <TD width="3%"></TD>
    <TD width="1%"></TD>
    <TD width="96"></TD>
</TR>

<TR valign="top">
    <TD nowrap align="left">&#091;***&#093;</TD>
    <TD>&nbsp;</TD>
    <TD>Portions of this exhibit were omitted and filed separately
with the Secretary of the Securities and Exchange Commission pursuant
to the Registrant&#146;s application requesting confidential
treatment under Rule&nbsp;24b-2 of the Exchange Act.</TD>
</TR>

</TABLE>
</DIV>
<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>
<DIV style="font-family: Helvetica,Arial,sans-serif">
<P align="center" style="font-size: 10pt"><!-- Folio -->- 44 -<!-- /Folio -->
<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="30%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="10%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="30%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="15%">&nbsp;</TD>
</TR>
<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD colspan="3" valign="top" align="center"><B>DEVELOPMENT COMPANY LIMITED</B><BR></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="3" valign="top" align="center"><B>BIOTHERAPEUTICS LIMITED</B><BR></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px"><FONT style="white-space: nowrap">Signature:</FONT>
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">/s/ Illegible</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top"><FONT style="white-space: nowrap">Signature:</FONT></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">/s/ David Aviezer</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top"><DIV style="font-size: 1pt; border-top: 1px solid #000000">&nbsp;</DIV>
</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;
</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top"><DIV style="font-size: 1pt; border-top: 1px solid #000000">&nbsp;</DIV>
</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Name
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Name:</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top"><DIV style="font-size: 1pt; border-top: 1px solid #000000">&nbsp;</DIV>
</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;
</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top"><DIV style="font-size: 1pt; border-top: 1px solid #000000">&nbsp;</DIV>
</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Title
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Title:</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top"><DIV style="font-size: 1pt; border-top: 1px solid #000000">&nbsp;</DIV>
</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;
</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top"><DIV style="font-size: 1pt; border-top: 1px solid #000000">&nbsp;</DIV>
</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Date:
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Date:</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top"><DIV style="font-size: 1pt; border-top: 1px solid #000000">&nbsp;</DIV>
</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;
</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top"><DIV style="font-size: 1pt; border-top: 1px solid #000000">&nbsp;</DIV>
</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>

</DIV>
<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>
<DIV style="font-family: Helvetica,Arial,sans-serif">
<P align="center" style="font-size: 10pt"><!-- Folio -->- 45 -<!-- /Folio -->

<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><U><B>APPENDIX A</B></U>
</DIV>


<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>The Existing Patent Applications</B>
</DIV>


<DIV align="center" style="font-size: 10pt; margin-top: 12pt">&#091;***&#093;
</DIV>


<DIV align="left">
<DIV style="font-size: 3pt; margin-top: 16pt; width: 18%; border-top: 0px solid #000000">&nbsp;</DIV>
</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">
<TR>
    <TD width="3%"></TD>
    <TD width="1%"></TD>
    <TD width="96"></TD>
</TR>

<TR valign="top">
    <TD nowrap align="left">&#091;***&#093;</TD>
    <TD>&nbsp;</TD>
    <TD>Portions of this exhibit were omitted and filed separately
with the Secretary of the Securities and Exchange Commission pursuant
to the Registrant&#146;s application requesting confidential
treatment under Rule&nbsp;24b-2 of the Exchange Act.</TD>
</TR>

</TABLE>
</DIV>
<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>
<DIV style="font-family: Helvetica,Arial,sans-serif">
<P align="center" style="font-size: 10pt"><!-- Folio -->- 46 -<!-- /Folio -->



<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><U><B>APPENDIX B</B></U>
</DIV>


<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>The Know-How</B>
</DIV>


<DIV align="center" style="font-size: 10pt; margin-top: 12pt">&#091;***&#093;
</DIV>


<DIV align="left">
<DIV style="font-size: 3pt; margin-top: 16pt; width: 18%; border-top: 0px solid #000000">&nbsp;</DIV>
</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">
<TR>
    <TD width="3%"></TD>
    <TD width="1%"></TD>
    <TD width="96"></TD>
</TR>

<TR valign="top">
    <TD nowrap align="left">&#091;***&#093;</TD>
    <TD>&nbsp;</TD>
    <TD>Portions of this exhibit were omitted and filed separately
with the Secretary of the Securities and Exchange Commission pursuant
to the Registrant&#146;s application requesting confidential
treatment under Rule&nbsp;24b-2 of the Exchange Act.</TD>
</TR>

</TABLE>
</DIV>
<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>
<DIV style="font-family: Helvetica,Arial,sans-serif">
<P align="center" style="font-size: 10pt"><!-- Folio -->- 47 -<!-- /Folio -->



<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><U><B>APPENDIX C</B></U>
</DIV>


<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>The Research Program</B>
</DIV>


<DIV align="center" style="font-size: 10pt; margin-top: 12pt">&#091;***&#093;
</DIV>


<DIV align="left">
<DIV style="font-size: 3pt; margin-top: 16pt; width: 18%; border-top: 0px solid #000000">&nbsp;</DIV>
</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">
<TR>
    <TD width="3%"></TD>
    <TD width="1%"></TD>
    <TD width="96"></TD>
</TR>

<TR valign="top">
    <TD nowrap align="left">&#091;***&#093;</TD>
    <TD>&nbsp;</TD>
    <TD>Portions of this exhibit were omitted and filed separately
with the Secretary of the Securities and Exchange Commission pursuant
to the Registrant&#146;s application requesting confidential
treatment under Rule&nbsp;24b-2 of the Exchange Act.</TD>
</TR>

</TABLE>
</DIV>
<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>
<DIV style="font-family: Helvetica,Arial,sans-serif">
<P align="center" style="font-size: 10pt"><!-- Folio -->- 48 -<!-- /Folio -->



<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><U><B>APPENDIX D</B></U>
</DIV>


<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>The Research Budget</B>
</DIV>


<DIV align="center" style="font-size: 10pt; margin-top: 12pt">&#091;***&#093;
</DIV>

<DIV align="left">
<DIV style="font-size: 3pt; margin-top: 16pt; width: 18%; border-top: 0px solid #000000">&nbsp;</DIV>
</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">
<TR>
    <TD width="3%"></TD>
    <TD width="1%"></TD>
    <TD width="96"></TD>
</TR>

<TR valign="top">
    <TD nowrap align="left">&#091;***&#093;</TD>
    <TD>&nbsp;</TD>
    <TD>Portions of this exhibit were omitted and filed separately
with the Secretary of the Securities and Exchange Commission pursuant
to the Registrant&#146;s application requesting confidential
treatment under Rule&nbsp;24b-2 of the Exchange Act.</TD>
</TR>

</TABLE>
</DIV>
<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>
<DIV style="font-family: Helvetica,Arial,sans-serif">
<P align="center" style="font-size: 10pt"><!-- Folio -->- 49 -<!-- /Folio -->



<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><U><B>APPENDIX E</B></U>
</DIV>


<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>The Magneton Approval</B>
</DIV>


<DIV align="center" style="font-size: 10pt; margin-top: 12pt">&#091;***&#093;
</DIV>


<DIV align="left">
<DIV style="font-size: 3pt; margin-top: 16pt; width: 18%; border-top: 0px solid #000000">&nbsp;</DIV>
</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">
<TR>
    <TD width="3%"></TD>
    <TD width="1%"></TD>
    <TD width="96"></TD>
</TR>

<TR valign="top">
    <TD nowrap align="left">&#091;***&#093;</TD>
    <TD>&nbsp;</TD>
    <TD>Portions of this exhibit were omitted and filed separately
with the Secretary of the Securities and Exchange Commission pursuant
to the Registrant&#146;s application requesting confidential
treatment under Rule&nbsp;24b-2 of the Exchange Act.</TD>
</TR>

</TABLE>
</DIV>
<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>
<DIV style="font-family: Helvetica,Arial,sans-serif">
<P align="center" style="font-size: 10pt"><!-- Folio -->- 50 -<!-- /Folio -->



<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><U><B>APPENDIX F</B></U>
</DIV>


<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>Specimen Material Transfer Agreement</B>
</DIV>


<DIV align="Center" style="font-size: 10pt; margin-top: 6pt">Date:<U>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U>

</DIV>

<DIV align="left" style="font-size: 10pt; margin-top:6pt"><U>&nbsp;&nbsp;&nbsp;
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U><U>&nbsp;
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U><U>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U>

</DIV>

<DIV align="left" style="font-size: 10pt; margin-top:6pt"><U>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U><U>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U><U>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U>

</DIV>

<DIV align="left" style="font-size: 10pt; margin-top:6pt"><U>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U><U>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U><U>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U>

</DIV>

<DIV align="left" style="font-size: 10pt; margin-top:6pt"><U>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U><U>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U><U>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U>

</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt">(the &#147;RECIPIENT&#148;)
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Dear Sir/Madam,
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Further to the RECIPIENT&#146;s request to receive
<U>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U><U>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</U><U>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U>, (the Material and any
fragment, derivative, progeny and modifications thereof shall hereinafter be termed the &#147;MATERIAL&#148;)
from Professor <U>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U>, (the &#147;SCIENTIST&#148;) for the purpose of:
<U>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U><U>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</U><U>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U><U>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U> (the &#147;RESEARCH&#148;), as more fully described in Annex A attached
hereto, please be advised that as the rights and title in and to the Material vest in the Weizmann
Institute of Science (the &#147;PROVIDER&#148;) and thus constitute a valuable asset of the PROVIDER, the
PROVIDER requires that the Material shall be provided to you under the following terms:
</DIV>


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left">1.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>The RECIPIENT agrees that the MATERIAL:</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left">1.1.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>is to be used solely for the purpose of the RESEARCH ;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left">1.2.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>will not be used for any commercial purposes;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left">1.3.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>will not be used in human subjects, in clinical trials, or for diagnostic purposes involving
human subjects.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left">1.4.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>is to be used only at the RECIPIENT organization and only in.<U>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U>&#146;s laboratory (the
&#147;RECIPIENT SCIENTIST&#148;) under the direction of RECIPIENT SCIENTIST or others working under
his/her direct supervision; and</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left">1.5.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>will not be transferred to anyone else including within the RECIPIENT organization at
<U>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U>
<I>(please complete address) </I>without the prior written consent of the PROVIDER.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left">2.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>The RECIPIENT acknowledges that the MATERIAL is or may be the subject of a patent
application. No expressed or implied licenses or other rights are provided to the RECIPIENT
under any patents, patent</TD>
</TR>

</TABLE>
</DIV></DIV>
<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>
<DIV style="font-family: Helvetica,Arial,sans-serif">
<P align="center" style="font-size: 10pt"><!-- Folio -->- 51 -<!-- /Folio -->

<DIV style="margin-top: 6pt"><TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">
<TR valign="top" style="font-size: 10pt; color: #textcolor#; background: #bgcolor#">
    <TD width="1%" nowrap align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>applications, trade secrets or other proprietary rights of the PROVIDER, including any
altered forms of the MATERIAL made by the PROVIDER. In particular, no expressed or implied
licenses or other rights are provided to use the MATERIAL, or any related patents of the
PROVIDER for COMMERCIAL PURPOSES.</TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left">3.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Any MATERIAL delivered pursuant to this Agreement is understood to be experimental in nature
and may have hazardous properties. The PROVIDER MAKES NO REPRESENTATIONS AND EXTENDS NO
WARRANTIES OF ANY KIND, EITHER EXPRESSED OR IMPLIED. WITHOUT DEROGATING FROM THE
AFOREMENTIONED, THERE ARE NO EXPRESSED OR IMPLIED WARRANTIES OF MERCHANTABILITY OR FITNESS FOR
A PARTICULAR PURPOSE, OR THAT THE USE OF THE MATERIAL WILL NOT INFRINGE ANY PATENT, COPYRIGHT,
TRADEMARK, OR OTHER PROPRIETARY RIGHTS.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left">4.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>The RECIPIENT assumes all liability for damages which may arise from its use, storage or
disposal of the MATERIAL. The Scientist, the PROVIDER and any of its employees will not be
liable to the RECIPIENT for any loss, claim or demand made by the RECIPIENT, or made against
the RECIPIENT by any other party, due to or arising from the use of the MATERIAL by the
RECIPIENT.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left">5.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>The RECIPIENT agrees to use the MATERIAL in compliance with all applicable statutes, laws,
treaties, regulations and guidelines such as, for example, those relating to research
involving the use of animals or recombinant DNA.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left">6.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>This Agreement will terminate on the earliest of the following dates: (a)&nbsp;on completion of
the RECIPIENT&#146;s Research with the MATERIAL, or (b)&nbsp;on thirty (30)&nbsp;days written notice by
either party to the other.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left">6.1.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>If termination should occur under clause 6 above, the RECIPIENT will discontinue its use of
the MATERIAL and will, upon direction of the PROVIDER, return or destroy any remaining
MATERIAL.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left">7.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>The RECIPIENT obligates to treat in confidence any information related to the Material
including RESEARCH results, except for information the RECIPIENT can prove was previously
known to him or that is or becomes publicly available not as a result of a breach of this
Agreement. Any disclosure of such confidential information shall be presented for the
Scientist&#146;s approval, at least 30 (thirty)&nbsp;days prior to the proposed disclosure.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left">8.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Paragraphs 2, 3, 4, 7, 10 and 11 shall survive termination.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left">9.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>The RECIPIENT shall provide the PROVIDER with the results of the RESEARCH.</TD>
</TR>

</TABLE>
</DIV>
</DIV>
<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>
<DIV style="font-family: Helvetica,Arial,sans-serif">
<P align="center" style="font-size: 10pt"><!-- Folio -->- 52 -<!-- /Folio -->

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left">10.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>EITHER: &#091;Should any useful invention, or application arise as a result of the performance of
the RESEARCH, RECIPIENT hereby agrees to inform the undersigned, and the right and title to
such invention or application shall vest in Yeda Research and Development Company Ltd.
(&#147;YEDA&#148;), the PROVIDER&#146;s technology transfer office. The RECIPIENT undertakes, upon YEDA&#146;s
request from time to time, to execute and deliver to YEDA all documents, including, without
limitation, instruments of conveyance, transfer, assignment and confirmation and to take such
other steps and render such assistance as YEDA may deem necessary, in order effectively to
transfer, assign, convey, vest and confirm in and to YEDA the ownership of such invention.&#093;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>OR: &#091;The Weizmann Institute, or any of its designees, is hereby granted an
option to obtain a worldwide, exclusive, royalty-bearing license, with the right to
grant sublicenses, of any patentable invention arising from the Research outside the
scope of the Material. Such license shall include terms and conditions to be
negotiated in good faith between your institution and the Institute.&#093;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left">11.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>In the event that RECIPIENT conceives an invention related to the MATERIAL in the course of
activities that are in breach of RECIPIENT&#146;s obligations under this Agreement, YEDA shall be
the sole and exclusive owner of such invention and all intellectual property rights therein,
and RECIPIENT shall execute and deliver any documents of assignment or conveyance to
effectuate the ownership rights of YEDA in such invention and related intellectual property
rights.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left">12.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>The PROVIDER shall be given advance notice of any intent to publish any information relating
to the results of the RESEARCH, not being in the public domain, and shall be furnished with a
copy of the contemplated publication at least 30&nbsp;days before making any such disclosure, in
order to allow YEDA to evaluate patent protection in respect thereof and implement a decision
to file a patent application. The RECIPIENT agrees to provide appropriate acknowledgment of
the source of the MATERIAL in all written and oral publications.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left">13.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>RECIPIENT shall pay stamp duty as required by law.</TD>
</TR>

</TABLE>
</DIV>
<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Please indicate the RECIPIENT&#146;s acceptance of the above terms by signing and returning one copy of
this letter to the undersigned.
</DIV>


<DIV align="center" style="font-size: 10pt; margin-top: 18pt">Sincerely yours,
</DIV>


<DIV align="Center" style="font-size: 10pt; margin-top: 6pt">Prof. <U>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U>

</DIV>
<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="40%">&nbsp;</TD>
    <TD width="30%">&nbsp;</TD>
    <TD width="30%">&nbsp;</TD>
</TR>
<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Agreed and accepted:</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Recipient Scientist&#146;s Name:
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Recipient&#146;s Name:</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>

</DIV>
<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>
<DIV style="font-family: Helvetica,Arial,sans-serif">
<P align="center" style="font-size: 10pt"><!-- Folio -->- 53 -<!-- /Folio -->
<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="5%">&nbsp;</TD>
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    <TD width="15%">&nbsp;</TD>
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    <TD width="7%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="7%">&nbsp;</TD>
</TR>
<!-- End Table Head -->
<!-- Begin Table Body -->
<TR style="font-size: 1px">
    <TD colspan="5" align="left" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="7" align="left" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD>&nbsp;</TD>
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    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="7" align="left">Authorized Person&#146;s Name and Title:</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Signature:</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
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    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 1px">
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="3" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
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    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
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</TR>
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    <TD>&nbsp;</TD>
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    <TD colspan="7" align="left" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
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    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="7" align="left">Signature and Date:</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Date:</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
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</TR>
<TR style="font-size: 1px">
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="3" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
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</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
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</TR>
<TR style="font-size: 1px">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
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    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="7" align="left" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt">For queries, please contact: Ann Dvorin
</DIV>

<DIV align="left" style="font-size: 10pt; margin-left: 9%; margin-top: 1pt">e-mail: <U>annie.dvorin@weizmann.ac.il</U><BR>
Tel: 972 8 9344093<BR>
Fax: 972 8 9470739
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">cc: Yeda Research and Development Co. Ltd. at the Weizmann Institute of Science.
</DIV>


<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><U><B>ANNEX A</B></U>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 12pt">The Research
</DIV>

</DIV>
<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>
<DIV style="font-family: Helvetica,Arial,sans-serif">
<P align="center" style="font-size: 10pt"><!-- Folio -->- 54 -<!-- /Folio -->

<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><U><B>APPENDIX G</B></U>
</DIV>


<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>Approved Form of Disclosure</B>
</DIV>

</DIV>
<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>
<DIV style="font-family: Helvetica,Arial,sans-serif">
<P align="center" style="font-size: 10pt"><!-- Folio -->- 55 -<!-- /Folio -->



<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><U><B>APPENDIX H</B></U>
</DIV>


<DIV align="Center" style="font-size: 10pt; margin-top: 6pt"><B>Specimen Non-Disclosure Agreement</B>

</DIV>

<DIV align="Center" style="font-size: 10pt; margin-top: 6pt">Effective as of <U>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U>, 200

</DIV>

<DIV align="Center" style="font-size: 10pt; margin-top: 6pt">BETWEEN

</DIV>

<DIV align="Center" style="font-size: 10pt; margin-top: 6pt"><DIV align="center"><DIV style="font-size: 3pt; margin-top: 16pt; width: 10%; border-top: 1px solid #000000">&nbsp;</DIV></DIV>

</DIV>

<DIV align="Center" style="font-size: 10pt; margin-top: 6pt"><DIV align="center"><DIV style="font-size: 3pt; margin-top: 16pt; width: 10%; border-top: 1px solid #000000">&nbsp;</DIV></DIV>

</DIV>

<DIV align="Center" style="font-size: 10pt; margin-top: 6pt">(&#147;<B>Recipient</B>&#148;)

</DIV>

<DIV align="Center" style="font-size: 10pt; margin-top: 6pt">and

</DIV>

<DIV align="Center" style="font-size: 10pt; margin-top: 6pt">YEDA RESEARCH AND DEVELOPMENT CO. LTD.,<BR>
at the Weizmann Institute of Science, Rehovot, Israel<BR>
(&#147;<B>YEDA</B>&#148;).

</DIV>
<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Recipient is interested in obtaining information from YEDA relating to &#091;Enter technology name&#093;
(Yeda&#146;s Ref.: &#091;Enter technology Number&#093;) including {patents &#091;Enter connected patent title/s and
numbers&#093;}, {patent applications &#091;Enter connected patent title and application number)} (Yeda&#146;s
docket/s no. &#091;Enter Yeda patent code&#093; (&#147;<B>the Confidential Information</B>&#148;), for the sole purpose of
studying the Confidential Information internally in order to &#091;chose the relevant option:&#093; &#091;1.
evaluate a possible business transaction with Yeda&#093; &#091;2. consult Yeda regarding commercialization of
the technology&#093; &#091;3. other&#093; ; and
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">YEDA is entitled and willing to make the Confidential Information available to Recipient solely for
the said purpose and under the terms and conditions hereinafter set forth:
</DIV>


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="6%" nowrap align="left">1.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>&#147;Confidential Information&#148; shall include any documents, patent applications, materials,
models, marketing, financial and investment plans, contacts, advice, recommendations,
drawings, plans, diagrams, specifications, technical material, techniques, compounds,
compositions, substances, seeds or any other physical matter in any way containing,
representing or embodying any of the aforegoing or any other information given, whether
verbally, in written or other form, by or on behalf of YEDA to Recipient.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="6%" nowrap align="left">2.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Recipient undertakes to use the Confidential Information only for the purpose of this
Agreement.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="6%" nowrap align="left">3.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Recipient undertakes to treat and maintain in strict confidence and secrecy, the
Confidential Information including any aspect thereof that may have been disclosed prior to
the signature hereof, and to make such information available only to those of its employees
and/or consultants who need to have access to it for the purpose of this</TD>
</TR>

</TABLE>
</DIV></DIV>
<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>
<DIV style="font-family: Helvetica,Arial,sans-serif">
<P align="center" style="font-size: 10pt"><!-- Folio -->- 56 -<!-- /Folio -->

<DIV style="margin-top: 6pt"><TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">
<TR valign="top" style="font-size: 10pt; color: #textcolor#; background: #bgcolor#">
    <TD width="6%" nowrap align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Agreement, provided that such employees and/or consultants are bound by a confidentiality
undertaking not less stringent than this Agreement.</TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="6%" nowrap align="left">4.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Recipient&#146;s undertakings and obligations under clause 3 above shall not apply to any part of
the Confidential Information for which the Recipient proves:</TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="4%" nowrap align="left">4.1.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>that it was known to Recipient prior to disclosure thereof by YEDA;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="4%" nowrap align="left">4.2.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>that it was generally available to the public prior to disclosure by YEDA, or
becomes generally available to the public after such disclosure (other than as a result
of the breach by the Recipient of its obligations hereunder).</TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="6%" nowrap align="left">5.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>This Agreement shall not by implication or otherwise be construed as a grant of a license or
as an obligation to grant a license or any other right to the Recipient.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="6%" nowrap align="left">6.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>No warranty of any kind is being provided with respect to the Confidential Information
including any warranty of accuracy, completeness and/or non-infringement.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="6%" nowrap align="left">7.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>This Agreement shall be terminated upon the expiry of the earlier of:</TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="4%" nowrap align="left">7.1.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>12&nbsp;months from the effective date of this Agreement; or</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="4%" nowrap align="left">7.2.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Receipt of 14&nbsp;days&#146; written notice by YEDA to Recipient, at any time.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="4%" nowrap align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Upon termination, Recipient will cease all study, evaluation or other
examination of YEDA&#146;s Confidential Information and the Confidential Information
shall be returned to YEDA or destroyed upon YEDA&#146;s request.</TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="6%" nowrap align="left">8.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Notwithstanding termination of this Agreement Recipient&#146;s confidentiality obligations under
this Agreement will continue for 5&nbsp;years from the date of disclosure of the Confidential
Information.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="6%" nowrap align="left">9.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>The rights of the parties shall inure to, and the obligations hereunder shall be binding on
the legal successors and assigns of the parties to this Agreement.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="6%" nowrap align="left">10.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>The law of Israel shall govern this Agreement for all purposes excluding the choice of law
provisions.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="6%" nowrap align="left">11.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>All notices or demands of any kind which either party may be required or desire to serve upon
the other shall be in writing and shall be delivered by (i)&nbsp;personal service, or (ii)&nbsp;by mail
at the address of the receiving party set forth above (or at such different address as may be
designated by such party by written notice to the other party) and by fax.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="6%" nowrap align="left">12.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>This Agreement contains the entire agreement of the parties relating to its subject matter
and supersedes all prior or contemporaneous oral or written agreements.</TD>
</TR>

</TABLE>
</DIV>
</DIV>
<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>
<DIV style="font-family: Helvetica,Arial,sans-serif">
<P align="center" style="font-size: 10pt"><!-- Folio -->- 57 -<!-- /Folio -->

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="6%" nowrap align="left">13.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>This Agreement may not be amended except by mutual written agreement of the parties.</TD>
</TR>

</TABLE>
</DIV>
<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="30%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="10%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="30%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="15%">&nbsp;</TD>
</TR>
<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD colspan="3" valign="top" align="left">Protalix Biotherapeutics Ltd.</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="3" valign="top" align="left">Yeda Research and Development Co. Ltd.</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Signature:
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Signature:</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top"><DIV style="font-size: 1pt; border-top: 1px solid #000000">&nbsp;</DIV>
</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;
</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top"><DIV style="font-size: 1pt; border-top: 1px solid #000000">&nbsp;</DIV>
</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Name:
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Name:</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top"><DIV style="font-size: 1pt; border-top: 1px solid #000000">&nbsp;</DIV>
</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;
</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top"><DIV style="font-size: 1pt; border-top: 1px solid #000000">&nbsp;</DIV>
</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Position:
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Position:</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top"><DIV style="font-size: 1pt; border-top: 1px solid #000000">&nbsp;</DIV>
</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;
</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top"><DIV style="font-size: 1pt; border-top: 1px solid #000000">&nbsp;</DIV>
</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Date:
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Date:</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top"><DIV style="font-size: 1pt; border-top: 1px solid #000000">&nbsp;</DIV>
</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;
</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top"><DIV style="font-size: 1pt; border-top: 1px solid #000000">&nbsp;</DIV>
</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<!-- End Table Body -->
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</DOCUMENT>
<DOCUMENT>
<TYPE>EX-10.8
<SEQUENCE>4
<FILENAME>g09552exv10w8.htm
<DESCRIPTION>EX-10.8 AGREEMENT BETWEEN TEVA & PROTALIX
<TEXT>
<HTML>
<HEAD>
<TITLE>EX-10.8 Agreement between Teva & Protalix</TITLE>
</HEAD>
<BODY bgcolor="#FFFFFF">
<!-- PAGEBREAK -->
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>
<DIV style="font-family: Helvetica,Arial,sans-serif">


<DIV align="right" style="font-size: 10pt; margin-top: 12pt">Exhibit&nbsp;10.8
</DIV>



<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%"><B>Portions of this exhibit have been omitted pursuant to a request for confidential treatment.
The omitted portions, marked by &#091;***&#093;, have been separately filed with the Securities and Exchange
Commission.</B>
</DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>AGREEMENT</B>
</DIV>


<DIV align="center" style="font-size: 10pt; margin-top: 18pt">made and signed on this 14&nbsp;day of September, 2006
</DIV>


<DIV align="Center" style="font-size: 10pt; margin-top: 6pt">Between

</DIV>

<DIV align="Center" style="font-size: 10pt; margin-top: 6pt"><B>Teva Pharmaceutical Industries Ltd.</B><BR>
a limited liability company incorporated under the laws of Israel, of 5 Basel Street, Petach Tiqva<BR>
49131, Israel<BR>
(&#147;<B>Teva</B>&#148;)

</DIV>

<DIV align="Center" style="font-size: 10pt; margin-top: 6pt">and

</DIV>

<DIV align="Center" style="font-size: 10pt; margin-top: 6pt"><B>Protalix Biopharmaceuticals Ltd.</B><BR>
a limited liability company incorporated under the laws of Israel, of 2 Snunit St., Science Park<BR>
P.O. Box 455, Carmiel 20100 , Israel<BR>
(&#147;<B>Protalix</B>&#148;)

</DIV>
<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Teva and Protalix may be individually referred to as a &#147;<B>Party</B>&#148; and collectively as the &#147;<B>Parties</B>&#148;
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><B>WHEREAS</B>, the Parties wish to carry out a Feasibility Program (as defined herein) to evaluate their
potential collaboration in the development and manufacturing of two Proteins (as such term is
defined below) on the basis of Protalix&#146;s proprietary plant culture process, as more fully
described herein;
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><B>WHEREAS</B>, the Parties agree, that following the completion of such Feasibility Program, Teva shall
have the option, but not the obligation, to enter into further collaboration with Protalix
regarding the development of Licensed Products (as defined herein), all as more fully set forth
herein and in accordance with the terms and conditions of this Agreement;
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><B>WHEREAS</B>, the Parties agree that in the event that Teva shall exercise the aforementioned option to
enter into the collaboration regarding the development of Licensed Products, Protalix shall grant
to Teva and Teva shall acquire from Protalix, the License (as defined herein), all subject to and
in accordance with the terms and conditions of this Agreement; and
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><B>WHEREAS</B>, Protalix agrees to grant Teva a right of first look at Protalix&#146;s proprietary product(s)
for the treatment of Gauchers Disease, to enable Teva to evaluate its interest in negotiating and
obtaining the GCD License (as such term is defined herein), all subject to and in accordance with
the terms and conditions set out hereinbelow.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><B>NOW, THEREFORE</B>, the Parties, agree as follows:
</DIV>


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left">1.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD><U><B>Preamble and Definitions</B></U></TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="2%" nowrap align="left">1.1.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>The Preamble and Annexes hereto form an integral part of this Agreement.</TD>
</TR>


</TABLE>
</DIV>

<DIV align="left">
<DIV style="font-size: 3pt; margin-top: 16pt; width: 18%; border-top: 0px solid #000000">&nbsp;</DIV>
</DIV>

<P align="center" style="font-size: 10pt"><!-- Folio --> - 1 - <!-- /Folio -->
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: Helvetica,Arial,sans-serif">

<DIV style="margin-top: 6pt"><TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">



<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="2%" nowrap align="left">1.2.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>In this Agreement the terms below shall bear the meanings assigned to them
below and other capitalized terms shall bear the meaning assigned to them in their
parenthetical definition, unless specifically stated otherwise:</TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="6%" style="background: transparent">&nbsp;</TD>
    <TD width="2%" nowrap align="left">1.2.1.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD><B>&#147;Additional Patents&#148; </B>- shall mean the patents and patent
applications listed in Annex 1.2.1, which constitute all of the patents and
patent applications that are proprietary to Protalix and existing on the
Effective Date, other than the Platform Patents and patent application number
&#091;***&#093; entitled &#091;***&#093;, and any patent that may be issued thereon.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="6%" style="background: transparent">&nbsp;</TD>
    <TD width="2%" nowrap align="left">1.2.2.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD><B>&#147;Affiliate&#148; </B>shall mean, with respect to any Party, any person,
organization or entity directly or indirectly controlling, controlled by or
under common control with, such Party. For purposes of this definition only,
&#147;control&#148; of another person, organization or entity shall mean the ability,
directly or indirectly, to direct the activities of the relevant entity, and
shall include, without limitation (i)&nbsp;ownership or direct control of fifty
percent (50%) or more of the outstanding voting stock or other ownership
interest of the other organization or entity, or (ii)&nbsp;direct or indirect
possession, of the power to elect or appoint fifty percent (50%) or more of
the members of the governing body of the organization or other entity.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="6%" style="background: transparent">&nbsp;</TD>
    <TD width="2%" nowrap align="left">1.2.3.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD><B>&#147;Annual Protalix Payment</B>&#148; shall bear the meaning assigned to such
term in Section&nbsp;10.5 below.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="6%" style="background: transparent">&nbsp;</TD>
    <TD width="2%" nowrap align="left">1.2.4.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>&#147;<B>API</B>&#148; shall mean the bulk Proteins&#146; active pharmaceutical
ingredient.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="6%" style="background: transparent">&nbsp;</TD>
    <TD width="2%" nowrap align="left">1.2.5.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>&#147;<B>API COGS</B>&#148; shall bear the meaning assigned to such term in Section
10.4 below.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="6%" style="background: transparent">&nbsp;</TD>
    <TD width="2%" nowrap align="left">1.2.6.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>&#147;<B>Backup Manufacturing File</B>&#148; shall bear the meaning assigned to
such term in Section&nbsp;10.7 below.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="6%" style="background: transparent">&nbsp;</TD>
    <TD width="2%" nowrap align="left">1.2.7.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>&#147;<B>Breakthrough Technology</B>&#148; shall bear the meaning assigned to such
term in Section&nbsp;13.2 below.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="6%" style="background: transparent">&nbsp;</TD>
    <TD width="2%" nowrap align="left">1.2.8.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>&#147;<B>Budget</B>&#148; shall bear the meaning assigned to such term in Section
4.14 below.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="6%" style="background: transparent">&nbsp;</TD>
    <TD width="2%" nowrap align="left">1.2.9.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>&#147;<B>Combination Product</B>&#148; shall mean a product which comprises (a)&nbsp;a
Licensed Product and (b)&nbsp;at least one other active ingredient, which, if
administered independently of the Licensed Product, would have a clinical
effect.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="6%" style="background: transparent">&nbsp;</TD>
    <TD width="2%" nowrap align="left">1.2.10.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>&#147;<B>Change of Control</B>&#148; shall bear the meaning assigned to such term
in Section&nbsp;11.5 below.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="6%" style="background: transparent">&nbsp;</TD>
    <TD width="2%" nowrap align="left">1.2.11.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>&#147;<B>Commercial GCD Services</B>&#148; shall bear the meaning assigned to such
term in Section&nbsp;14A.6 below.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="6%" style="background: transparent">&nbsp;</TD>
    <TD width="2%" nowrap align="left">1.2.12.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD><B>&#147;Development Plan&#148; </B>shall bear the meaning assigned to such term
in Section&nbsp;4.4 below.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="6%" style="background: transparent">&nbsp;</TD>
    <TD width="2%" nowrap align="left">1.2.13.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>&#147;<B>Effective Date</B>&#148; shall bear the meaning assigned to such term in
Section&nbsp;15.1 below.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="6%" style="background: transparent">&nbsp;</TD>
    <TD width="2%" nowrap align="left">1.2.14.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>&#147;<B>EU</B>&#148; shall mean the member countries of the European Union, from
time to time.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="6%" style="background: transparent">&nbsp;</TD>
    <TD width="2%" nowrap align="left">1.2.15.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>&#147;<B>EU Market</B>&#148; shall mean all of Spain, the UK, Italy, Germany and
France.</TD>
</TR>

</TABLE>
</DIV>

<DIV align="left">
<DIV style="font-size: 3pt; margin-top: 16pt; width: 18%; border-top: 0px solid #000000">&nbsp;</DIV>
</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">
<TR>
    <TD width="3%"></TD>
    <TD width="1%"></TD>
    <TD width="96"></TD>
</TR>

<TR valign="top">
    <TD nowrap align="left">&#091;***&#093;</TD>
    <TD>&nbsp;</TD>
    <TD>Portions of this exhibit were omitted and filed separately
with the Secretary of the Securities and Exchange Commission pursuant
to the Registrant&#146;s application requesting confidential
treatment under Rule&nbsp;24b-2 of the Exchange Act.</TD>
</TR>

</TABLE>


<P align="center" style="font-size: 10pt"><!-- Folio --> - 2 - <!-- /Folio -->
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: Helvetica,Arial,sans-serif">


<DIV style="margin-top: 6pt"><TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">


<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="6%" style="background: transparent">&nbsp;</TD>
    <TD width="2%" nowrap align="left">1.2.16.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>&#147;<B>Evaluation Period</B>&#148; shall bear the meaning assigned to such term
in Section&nbsp;14.2 below.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="6%" style="background: transparent">&nbsp;</TD>
    <TD width="2%" nowrap align="left">1.2.17.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>&#147;<B>External Development Expenses</B>&#148; shall bear the meaning assigned
to such term in Section&nbsp;4.14.2 below.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="6%" style="background: transparent">&nbsp;</TD>
    <TD width="2%" nowrap align="left">1.2.18.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>&#147;<B>External Manufacturing Expenses</B>&#148; shall bear the meaning assigned
to such term in Section&nbsp;10.4 below.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="6%" style="background: transparent">&nbsp;</TD>
    <TD width="2%" nowrap align="left">1.2.19.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>&#147;<B>Exclusive Manufacturing Term</B>&#148; shall bear the meaning assigned to
such term in Section&nbsp;10.1 below.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="6%" style="background: transparent">&nbsp;</TD>
    <TD width="2%" nowrap align="left">1.2.20.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>&#147;<B>Escrow Agent</B>&#148; shall bear the meaning assigned to such term in
Section&nbsp;10.7(A) below.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="6%" style="background: transparent">&nbsp;</TD>
    <TD width="2%" nowrap align="left">1.2.21.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>&#147;<B>Feasibility Program(s)</B>&#148; shall bear the meaning assigned to such
term in Section&nbsp;3.1.1 below.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="6%" style="background: transparent">&nbsp;</TD>
    <TD width="2%" nowrap align="left">1.2.22.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD><B>&#147;Final Feasibility Report&#148; </B>shall bear the meaning assigned to
such term in Section&nbsp;3.1.7 below.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="6%" style="background: transparent">&nbsp;</TD>
    <TD width="2%" nowrap align="left">1.2.23.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD><B>&#147;First Commercial Sale&#148; </B>shall mean, with respect to any Licensed
Product the first commercial sale to a third party, in exchange for cash or
some equivalent to which value can be assigned, after the obtaining of all
necessary regulatory and other approvals required in order to commercially
sell and market the Licensed Product in the country in which the sale is made,
other than the sale of the Licensed Product for experimental, testing,
compassionate or promotional purposes.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="6%" style="background: transparent">&nbsp;</TD>
    <TD width="2%" nowrap align="left">1.2.24.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>&#147;<B>Further Sublicense</B>&#148; and &#147;<B>Further Sublicensee</B>&#148; shall bear the
meaning assigned to such terms in Section&nbsp;6.3 below.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="6%" style="background: transparent">&nbsp;</TD>
    <TD width="2%" nowrap align="left">1.2.25.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>&#147;<B>GCD License</B>&#148; shall bear the meaning assigned to such term in
Section&nbsp;14.1 below.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="6%" style="background: transparent">&nbsp;</TD>
    <TD width="2%" nowrap align="left">1.2.26.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>&#147;<B>GCD Product</B>&#148; shall bear the meaning assigned to such term in
Section&nbsp;14.1 below.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="6%" style="background: transparent">&nbsp;</TD>
    <TD width="2%" nowrap align="left">1.2.27.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>&#147;<B>GCD Services</B>&#148; shall bear the meaning assigned to such term in
Section&nbsp;14A.1 below.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="6%" style="background: transparent">&nbsp;</TD>
    <TD width="2%" nowrap align="left">1.2.28.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>&#147;<B>Innovator</B>&#148; shall mean the first to market with a specific
proprietary Product.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="6%" style="background: transparent">&nbsp;</TD>
    <TD width="2%" nowrap align="left">1.2.29.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>&#147;<B>Internal Expenses</B>&#148; shall bear the meaning assigned to such term
in Section&nbsp;4.14.1 below.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="6%" style="background: transparent">&nbsp;</TD>
    <TD width="2%" nowrap align="left">1.2.30.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>&#147;<B>IP</B>&#148; shall mean (i)&nbsp;all inventions, materials, compounds,
compositions, substances, methods, processes, techniques, know-how,
technology, data, information, discoveries and other results of whatsoever
nature, and any patents, copyrights, proprietary intellectual or industrial
rights directly or indirectly deriving therefrom, as well as provisionals,
patent applications (whether pending or not), and patent disclosures together
with all reissuances, continuations, continuations in part, revisions,
extensions, and reexaminations thereof; (ii)&nbsp;all trademarks, service marks,
copyrights, designs, trade styles, logos, trade dress, and corporate names,
including all goodwill associated therewith; (iii)&nbsp;any work of authorship,
regardless of copyrightability, all</TD>
</TR>


</TABLE>
</DIV>
<P align="center" style="font-size: 10pt"><!-- Folio --> - 3 - <!-- /Folio -->
</DIV>

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<DIV style="font-family: Helvetica,Arial,sans-serif">


<DIV style="margin-top: 6pt"><TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">


<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="6%" style="background: transparent">&nbsp;</TD>
    <TD width="2%" nowrap align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>compilations, all copyrights; and (iv)&nbsp;all
trade secrets, confidential information and proprietary processes.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="6%" style="background: transparent">&nbsp;</TD>
    <TD width="2%" nowrap align="left">1.2.31.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>&#147;<B>License&#148; </B>shall bear the meaning assigned to such term in Section
6.1 below.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="6%" style="background: transparent">&nbsp;</TD>
    <TD width="2%" nowrap align="left">1.2.32.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD><B>&#147;Licensed Information</B>&#148; shall bear the meaning assigned to such
term in Section&nbsp;6.1 below.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="6%" style="background: transparent">&nbsp;</TD>
    <TD width="2%" nowrap align="left">1.2.33.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>&#147;<B>Licensed Product(s)</B>&#148; shall bear the meaning assigned to such
term in Section&nbsp;6.1 below.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="6%" style="background: transparent">&nbsp;</TD>
    <TD width="2%" nowrap align="left">1.2.34.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>&#147;<B>Major Countries</B>&#148; shall mean the United States of America,
Canada, the EU Market, China, Japan, Israel, Mexico, India, Australia and New
Zealand.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="6%" style="background: transparent">&nbsp;</TD>
    <TD width="2%" nowrap align="left">1.2.35.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>&#147;<B>Manufacturing Know-how</B>&#148; shall bear the meaning assigned to such
term in Section&nbsp;10.7 below.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="6%" style="background: transparent">&nbsp;</TD>
    <TD width="2%" nowrap align="left">1.2.36.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>&#147;<B>Market Advantage</B>&#148; shall [***]</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="6%" style="background: transparent">&nbsp;</TD>
    <TD width="2%" nowrap align="left">1.2.37.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>&#147;<B>Milestone</B>&#148; shall bear the meaning assigned to such term in
Section&nbsp;8.1 below.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="6%" style="background: transparent">&nbsp;</TD>
    <TD width="2%" nowrap align="left">1.2.38.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>&#147;<B>Milestone Payments</B>&#148; shall bear the meaning assigned to such term
in Section&nbsp;8.1 below.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="6%" style="background: transparent">&nbsp;</TD>
    <TD width="2%" nowrap align="left">1.2.39.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>&#147;<B>Net Sales</B>&#148; shall mean with respect to a Licensed Product, the
total gross amounts [***] in respect of such Licensed Product, as established in a
<I>bona fide </I>arms-length transaction with an unrelated third party, less the
following items (as they apply to such Licensed Product): (i)&nbsp;quantity and/or
cash discounts actually allowed or taken; (ii)&nbsp;customs, duties, sales and
similar taxes, if any, imposed on the Licensed Product, to the extent
applicable to such sale and included in the invoice in respect of such sale;
(iii)&nbsp;amounts actually allowed or credited by reason of rejections, return of
goods (including as a result of recalls), any retroactive price reductions or
allowances specifically identifiable as relating to the Licensed Product; (iv)
amounts incurred resulting from government mandated rebate programs (or any
agency thereof); (v)&nbsp;third party (a)&nbsp;rebates, (b)&nbsp;freight, postage, shipping
and applicable insurance charges, to the extent the same are separately</TD>
</TR>

</TABLE>
</DIV>
<DIV align="left">
<DIV style="font-size: 3pt; margin-top: 16pt; width: 18%; border-top: 0px solid #000000">&nbsp;</DIV>
</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">
<TR>
    <TD width="3%"></TD>
    <TD width="1%"></TD>
    <TD width="96"></TD>
</TR>

<TR valign="top">
    <TD nowrap align="left">&#091;***&#093;</TD>
    <TD>&nbsp;</TD>
    <TD>Portions of this exhibit were omitted and filed separately
with the Secretary of the Securities and Exchange Commission pursuant
to the Registrant&#146;s application requesting confidential
treatment under Rule&nbsp;24b-2 of the Exchange Act.</TD>
</TR>

</TABLE>

<P align="center" style="font-size: 10pt"><!-- Folio --> - 4 - <!-- /Folio -->
</DIV>

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<DIV style="font-family: Helvetica,Arial,sans-serif">


<DIV style="margin-top: 6pt"><TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">


<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="6%" style="background: transparent">&nbsp;</TD>
    <TD width="2%" nowrap align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>itemized on invoices and actually paid as evidenced by invoices or other
appropriate supporting documentation, and (c)&nbsp;chargebacks or similar price
concessions related to the sale of the Licensed Product; (vi)&nbsp;bad debts
deriving from Net Sales in respect of which Royalty Payments were paid to
Protalix pursuant hereto, (vii)&nbsp;royalties paid to third parties
[***] in respect of the use of such third party&#146;s
intellectual property rights (provided that in no event shall the amounts
deducted in respect of such third party royalties under (vii)&nbsp;result in the
reduction of the Royalty Payments to Protalix to less than
&#091;***&#093; of the Net
Sales attributable to any particular Licensed Product, (without derogating
from any lower royalty rates as determined by Sections&nbsp;8.2(a) or 8.2(b)
below), and (vi)&nbsp;reasonable quantities of samples, provided the quantity of
Licensed Product actually utilized for purposes of such samples shall not
exceed &#091;***&#093; of the volume of annual Licensed Product sales during any given
year during this Agreement. All of the foregoing shall be calculated in
accordance with U.S. GAAP.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="6%" style="background: transparent">&nbsp;</TD>
    <TD width="2%" nowrap align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>[***]</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="6%" style="background: transparent">&nbsp;</TD>
    <TD width="2%" nowrap align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>In addition, the Net Sales shall be furthermore adjusted and reduced in the
event that a Licensed Product is sold as part of a Combination Product as set
forth in Section&nbsp;8.4 hereto.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="6%" style="background: transparent">&nbsp;</TD>
    <TD width="2%" nowrap align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>With respect to sales which are not at <I>bona fide </I>arms-length and/or are not in
the ordinary course of business, the term &#147;Net Sales&#148; shall mean the total
amount that would have been due in an arms-length sale made in the ordinary
course of business and according to the then current market conditions for such
sale or, in the absence of such current market conditions, according to market
conditions for sale of products similar to the Licensed Products. If Licensed
Products are sold or supplied in a currency other than United States Dollars
then the sum of Net Sales shall first be determined in the currency in
which such Licensed Products were invoiced and then converted into equivalent
United States Dollars at the middle market rate of such foreign currency as
quoted in the Financial Times at the close of business of the last business day
of the quarter with respect to which the payment is made.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="6%" style="background: transparent">&nbsp;</TD>
    <TD width="2%" nowrap align="left">1.2.40.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>&#147;<B>Non-Platform IP</B>&#148; &#151; shall mean all Licensed Information and Teva
IP, other than Platform IP.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="6%" style="background: transparent">&nbsp;</TD>
    <TD width="2%" nowrap align="left">1.2.41.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>&#147;<B>Other IP</B>&#148; shall mean any and all IP developed within the
framework of the collaboration hereunder (including both the performance of
the Feasibility Program and the performance of Stage 2, in the event that Teva
exercises its option to have Stage 2 performed), which is neither Platform IP
nor Protein IP.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="6%" style="background: transparent">&nbsp;</TD>
    <TD width="2%" nowrap align="left">1.2.42.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>&#147;<B>Platform IP</B>&#148; &#151; shall mean Protalix&#146;s existing and future
proprietary recombinant plant culture process and technologies directly
related to such process, and improvements thereto, as may be further developed
in the course</TD>
</TR>



</TABLE>
</DIV>

<DIV align="left">
<DIV style="font-size: 3pt; margin-top: 16pt; width: 18%; border-top: 0px solid #000000">&nbsp;</DIV>
</DIV>
 <TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">
<TR>
    <TD width="3%"></TD>
    <TD width="1%"></TD>
    <TD width="96"></TD>
</TR>

<TR valign="top">
    <TD nowrap align="left">&#091;***&#093;</TD>
    <TD>&nbsp;</TD>
    <TD>Portions of this exhibit were omitted and filed separately
with the Secretary of the Securities and Exchange Commission pursuant
to the Registrant&#146;s application requesting confidential
treatment under Rule&nbsp;24b-2 of the Exchange Act.</TD>
</TR>

</TABLE>



<P align="center" style="font-size: 10pt"><!-- Folio --> - 5 - <!-- /Folio -->
</DIV>

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<DIV style="font-family: Helvetica,Arial,sans-serif">


<DIV style="margin-top: 6pt"><TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">



</TABLE>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 10%">of the collaboration, or otherwise, by or for Protalix, at any
time prior to the expiration of [***] following the First
Commercial Sale of the first Licensed Product. The list of patents and patent
applications included under the Platform IP, existing as of the date of
execution of this Agreement is attached hereto as Annex 1.2.42 (the &#147;<B>Platform
Patents</B>&#148;).
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 10%">All additional patent applications/ patents that may be filed by or for Protalix
to cover portions of the Platform IP at any time prior to the expiration of
[***] following the First Commercial Sale of the first Licensed
Product, shall be immediately reported by Protalix to Teva and shall be included
in the term &#145;Platform Patents&#146; as of the time of such report.
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="6%" style="background: transparent">&nbsp;</TD>
    <TD width="1%" nowrap align="left">1.2.43.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>&#147;<B>Protalix Competitor</B>&#148; shall mean: [***]</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="6%" style="background: transparent">&nbsp;</TD>
    <TD width="1%" nowrap align="left">1.2.44.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD><B>&#147;Protein(s)&#148; </B>each of the two (2)&nbsp;therapeutic proteins as
selected by Teva and agreed upon by Protalix (such agreement not to be
unreasonably withheld, conditioned or delayed), expressed in plant
cell-expression system, to be described in <U><B>Annex 1.2.44</B></U> hereto, as
might be substituted subject to the terms of this Agreement.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="6%" style="background: transparent">&nbsp;</TD>
    <TD width="1%" nowrap align="left">1.2.45.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>&#147;<B>Protein IP</B>&#148; &#151; shall mean any and all IP developed during the
collaboration hereunder (including both the performance of the Feasibility
Program and the performance of Stage 2, in the event that Teva exercises its
option to have Stage 2 performed), which relates specifically to the Proteins
and which is not Platform IP. Notwithstanding the foregoing, any patent(s)
related to the Platform IP that specifically
and directly and solely relates to one or both of the Proteins shall be
considered part of the Protein IP, and not Platform IP.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="6%" style="background: transparent">&nbsp;</TD>
    <TD width="1%" nowrap align="left">1.2.46.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>&#147;<B>ROFL</B>&#148; shall bear the meaning assigned to such term in Section
14.1 below.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="6%" style="background: transparent">&nbsp;</TD>
    <TD width="1%" nowrap align="left">1.2.47.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>&#147;<B>ROFO</B>&#148; &#147;<B>ROFO Notice</B>&#148; and &#147;<B>ROFO Period</B>&#148; shall bear the meanings
assigned to such terms in Section&nbsp;3.2.1 below.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="6%" style="background: transparent">&nbsp;</TD>
    <TD width="1%" nowrap align="left">1.2.48.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>&#147;<B>Royalty Payments</B>&#148; shall bear the meaning assigned to such term
in Section&nbsp;8.2 below.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="6%" style="background: transparent">&nbsp;</TD>
    <TD width="1%" nowrap align="left">1.2.49.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>[***]</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="6%" style="background: transparent">&nbsp;</TD>
    <TD width="1%" nowrap align="left">1.2.50.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>&#147;<B>Stage 2</B>&#148; shall bear the meaning assigned to such term in Section
3.4 below.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="6%" style="background: transparent">&nbsp;</TD>
    <TD width="1%" nowrap align="left">1.2.51.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>&#147;<B>Stage 2 Notice</B>&#148; and &#147;<B>Stage 2 Notice Period</B>&#148; shall bear the
meaning assigned to such terms in Section&nbsp;3.4 below.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="6%" style="background: transparent">&nbsp;</TD>
    <TD width="1%" nowrap align="left">1.2.52.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD><B>&#147;Sublicence&#148; </B>shall mean any right granted, license given, or
agreement entered into, by Teva and/or its Affiliates to or with any other
person or entity</TD>
</TR>

</TABLE>
</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">
<TR>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%"></TD>
    <TD width="96"></TD>
</TR>

<TR valign="top">
    <TD nowrap align="left">&#091;***&#093;</TD>
    <TD>&nbsp;</TD>
    <TD>Portions of this exhibit were omitted and filed separately
with the Secretary of the Securities and Exchange Commission pursuant
to the Registrant&#146;s application requesting confidential
treatment under Rule&nbsp;24b-2 of the Exchange Act.</TD>
</TR>

</TABLE>

<P align="center" style="font-size: 10pt"><!-- Folio --> - 6 - <!-- /Folio -->
</DIV>

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<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: Helvetica,Arial,sans-serif">


<DIV style="margin-top: 6pt"><TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">


<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="6%" style="background: transparent">&nbsp;</TD>
    <TD width="1%" nowrap align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>(whether or not such grant of rights, license given or
agreement entered into is described as a sublicence or otherwise), permitting
any use of the Licensed Information (or any part thereof) or any right to
research, develop, make, have made, register, import, manufacture, use, sell,
offer for sale, produce, sublicense, commercialize and/or distribute the
Proteins and/or the Licensed Products for any indication; and the term
<B>&#147;Sublicensee&#148; </B>shall be construed accordingly.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="6%" style="background: transparent">&nbsp;</TD>
    <TD width="1%" nowrap align="left">1.2.53.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD><B>&#147;Teva Competitor&#148; </B>shall bear the meaning ascribed to such term in
Section&nbsp;11.5 below.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="6%" style="background: transparent">&nbsp;</TD>
    <TD width="1%" nowrap align="left">1.2.54.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>&#147;<B>Teva IP</B>&#148; shall bear the meaning assigned to such term in
Section&nbsp;11.6 below.</TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="2%" nowrap align="left">1.3.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>In this Agreement, words importing the singular shall include the plural and
<I>vice-versa </I>and words importing any gender shall include all other genders and
references to persons shall include partnerships, corporations and unincorporated
associations.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="2%" nowrap align="left">1.4.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>The words &#147;including&#148; and &#147;includes&#148; mean including, without limiting the
generality of any description preceding such terms.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="2%" nowrap align="left">1.5.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>In the event of any discrepancy between the terms of this Agreement and any of
the Annexes hereto, the terms of this Agreement shall prevail.</TD>
</TR>

</TABLE>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt">2. <U><B>General Scope </B></U>
</DIV>


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="2%" nowrap align="left">2.1.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>The Parties hereby agree to collaborate in the development, and the
manufacturing of the Proteins, on the basis of the Platform IP.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="2%" nowrap align="left">2.2.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>The collaboration in respect of the development of the Licensed Products shall
initially be carried out through the performance of the Feasibility Program.
Following completion of same, should Teva so elect at its sole and exclusive
discretion, the collaboration shall continue by way of the development of Licensed
Products.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="2%" nowrap align="left">2.3.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>The commercialization of the Licensed Products shall be performed solely by
Teva (or any third party on its behalf in accordance herewith), without the
collaboration of Protalix, under the License granted to Teva hereunder.</TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" nowrap align="left">3.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD><U><B>The Collaboration</B></U></TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="2%" nowrap align="left">3.1.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD><B>The Feasibility Program &#150; Stage 1</B></TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="6%" style="background: transparent">&nbsp;</TD>
    <TD width="2%" nowrap align="left">3.1.1.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Protalix shall carry out a feasibility program in respect of each
of the Proteins in accordance with the protocol and time schedule as agreed
between the Parties to be attached hereto within thirty (30)&nbsp;days of the
Effective Date as <B>Annex 3.1.1 </B>(the &#147;<B>Feasibility Program</B>&#148;). An outline of the
activities to be performed by Protalix under the Feasibility Program, as
currently envisaged, is attached hereto as Annex 3.1.1A. The Feasibility
Program will mainly consist of producing [***]. One (1)&nbsp;Protein shall be
agreed upon between the Parties, within thirty (30)&nbsp;days of the</TD>
</TR>



</TABLE>
</DIV>

<DIV align="left">
<DIV style="font-size: 3pt; margin-top: 16pt; width: 18%; border-top: 0px solid #000000">&nbsp;</DIV>
</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">
<TR>
    <TD width="3%"></TD>
    <TD width="1%"></TD>
    <TD width="96"></TD>
</TR>

<TR valign="top">
    <TD nowrap align="left">&#091;***&#093;</TD>
    <TD>&nbsp;</TD>
    <TD>Portions of this exhibit were omitted and filed separately
with the Secretary of the Securities and Exchange Commission pursuant
to the Registrant&#146;s application requesting confidential
treatment under Rule&nbsp;24b-2 of the Exchange Act.</TD>
</TR>

</TABLE>


<P align="center" style="font-size: 10pt"><!-- Folio --> - 7 - <!-- /Folio -->
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: Helvetica,Arial,sans-serif">


<DIV style="margin-top: 6pt"><TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">


<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="6%" style="background: transparent">&nbsp;</TD>
    <TD width="2%" nowrap align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Effective
Date, and shall be described in Annex 1.2.44 (the &#147;<B>First Protein</B>&#148;) and the
other Protein (the &#147;<B>Second Protein</B>&#148;) shall be selected by Teva by [***] following the execution hereof, and agreed upon by
Protalix, such agreement not to be unreasonably withheld.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="6%" style="background: transparent">&nbsp;</TD>
    <TD width="2%" nowrap align="left">3.1.2.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Protalix shall begin performing the Feasibility Program in respect
of the First Protein immediately after the First Protein is selected by the
Parties, and, shall begin performing the Feasibility Program in respect of the
Second Protein, as soon as practicable, but no later than four (4)&nbsp;weeks
following the selection of Second Protein by Teva and its approval by
Protalix, as aforementioned.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="6%" style="background: transparent">&nbsp;</TD>
    <TD width="2%" nowrap align="left">3.1.3.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Each Feasibility Program will be carried out by Protalix at its
sole cost and expense in accordance with a budget reasonably determined by it
in accordance with industry standards, and based on the Feasibility Program. A
Feasibility Program may be adjusted with the consent of the R&#038;D Committee (as
defined below) from time to time. A non-binding estimate of the resources and
expenses that Protalix expects to dedicate to, and incur in the conduct of
each Feasibility Program (inclusive, <I>inter alia</I>, of the estimated costs of
FTEs and materials) will be submitted to the R&#038;D Committee at the beginning of
each Feasibility Program and an updated non-binding estimate pertaining to the
remainder of the Feasibility Program shall be submitted twelve (12)&nbsp;months
following commencement of each Feasibility Program. Protalix shall keep
separate records of the expenses actually incurred by it in the conduct of
each Feasibility Program and shall provide Teva and the R&#038;D Committee with
detailed quarterly reports of its expenses. For the avoidance of doubt, it is
clarified that any major deviation by Protalix from the activities set forth under a Feasibility Program shall require
the prior written approval of the R&#038;D Committee. Any material increase in
the cost of the conduct of the Feasibility Program deriving solely from
an agreed change in the activities included in the Feasibility Program
will be discussed and negotiated in good faith between the management of
both Parties.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="6%" style="background: transparent">&nbsp;</TD>
    <TD width="2%" nowrap align="left">3.1.4.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Protalix shall complete each Feasibility Program within [***]. Any extension of such time period that may be
requested by Protalix, with respect to each or any Protein, must be approved
in advance and in writing by Teva, which approval shall not be unreasonably
withheld. For avoidance of doubt, Protalix shall bear all costs and expenses
related to the performance of the Feasibility Program until its completion
regardless of the term of its duration.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="6%" style="background: transparent">&nbsp;</TD>
    <TD width="2%" nowrap align="left">3.1.5.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>At the end of each calendar quarter during the course of the
performance of each Feasibility Program, Protalix shall provide Teva with
periodic progress reports regarding the progress of such Feasibility Program,
in a form to be agreed in advance between the Parties.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="6%" style="background: transparent">&nbsp;</TD>
    <TD width="2%" nowrap align="left">3.1.6.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Teva&#146;s representative(s) on the R&#038;D Committee may, from time to
time, request updates regarding the progress of Stage 1, in addition to the
periodic progress reports, and Protalix shall provide any additional update
that Teva&#146;s representative(s) on the R&#038;D Committee may reasonably request.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="6%" style="background: transparent">&nbsp;</TD>
    <TD width="2%" nowrap align="left">3.1.7.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Not later than sixty (60)&nbsp;days after the completion of the
performance of</TD>
</TR>


</TABLE>
</DIV>
<DIV align="left">
<DIV style="font-size: 3pt; margin-top: 16pt; width: 18%; border-top: 0px solid #000000">&nbsp;</DIV>
</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">
<TR>
    <TD width="3%"></TD>
    <TD width="1%"></TD>
    <TD width="96"></TD>
</TR>

<TR valign="top">
    <TD nowrap align="left">&#091;***&#093;</TD>
    <TD>&nbsp;</TD>
    <TD>Portions of this exhibit were omitted and filed separately
with the Secretary of the Securities and Exchange Commission pursuant
to the Registrant&#146;s application requesting confidential
treatment under Rule&nbsp;24b-2 of the Exchange Act.</TD>
</TR>

</TABLE>

<P align="center" style="font-size: 10pt"><!-- Folio --> - 8 - <!-- /Folio -->
</DIV>

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<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: Helvetica,Arial,sans-serif">


<DIV style="margin-top: 6pt"><TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">


<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="6%" style="background: transparent">&nbsp;</TD>
    <TD width="2%" nowrap align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>each Feasibility Program in respect of each Protein, Protalix
shall provide Teva with a written report detailing the results of such
Feasibility Program in respect of each Protein, in a form acceptable to Teva
(each, a &#147;<B>Final Feasibility Report</B>&#148;).</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="6%" style="background: transparent">&nbsp;</TD>
    <TD width="2%" nowrap align="left">3.1.8.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>After receipt by Teva of each Final Feasibility Report, if Teva
wishes to receive further information from Protalix it shall so advise
Protalix by written notice specifying such additional information requested
(the &#147;<B>First Notice</B>&#148;), to be delivered to Protalix no later than sixty (60)
days as of the date of provision to Teva of the Final Feasibility Report.
Protalix will provide such additional information within a reasonable time,
but not later than sixty (60)&nbsp;days following receipt of the First Notice (the
&#147;<B>Initial Response</B>&#148;). In the event that following receipt of the Initial
Response, Teva wishes to receive further information from Protalix, it shall
so advise Protalix by written notice specifying such additional information
requested (the &#147;<B>Second Notice</B>&#148;), to be delivered to Protalix no later than
forty five (45)&nbsp;days as of the date of provision to Teva of the Initial
Response. Protalix will provide such additional information within a
reasonable time but not later than forty five (45)&nbsp;days following receipt of
the Second Notice (the &#147;<B>Additional Response</B>&#148;). In the event that following
receipt of the Additional Response, Teva wishes to receive further information
from Protalix, it shall so advise Protalix by written notice specifying such
additional information requested (the &#147;<B>Third Notice</B>&#148;), to be delivered to
Protalix no later than thirty (30)&nbsp;days as of the date of provision to
Teva of the Additional Response. Protalix will provide such additional
information within a reasonable time but not later than thirty (30)&nbsp;days
following receipt of the Third Notice (the &#147;<B>Final Response</B>&#148;). In the
event that the Initial Response, together with the Additional Response
and the Final Response provide the full and complete information
reasonably requested by Teva, then following submission of the Final
Response Protalix shall not be required to provide any additional
information to Teva in connection with the Final Feasibility Report.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="6%" style="background: transparent">&nbsp;</TD>
    <TD width="2%" nowrap align="left">3.1.9.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Protalix shall NOT be entitled to subcontract its obligations to
perform the Feasibility Programs to any third party whatsoever without the
prior written approval of Teva, which approval shall not be unreasonably
withheld.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="6%" style="background: transparent">&nbsp;</TD>
    <TD width="2%" nowrap align="left">3.1.10.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Without limiting the generality of the second sentence of Section
16.6, the Parties hereby acknowledge that Protalix has not guaranteed that
Stage 1 will be successful or achieve any specific results at all or within
the specified time period.</TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="2%" nowrap align="left">3.2.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD><B>Right of First Offer</B></TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="6%" style="background: transparent">&nbsp;</TD>
    <TD width="2%" nowrap align="left">3.2.1.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Until the lapse of a [***] period from the Effective
Date or until the selection by Teva of the Second Protein, whichever comes
first (the &#147;<B>ROFO Period</B>&#148;) Protalix shall refrain from entering into an
agreement with any third party the purpose of which is the development or
commercialization of any [***] protein utilizing the Platform IP,
unless Protalix shall first offer Teva in writing to select such protein as
the Second Protein (the &#147;<B>ROFO</B>&#148; and the &#147;<B>ROFO Notice</B>&#148;, respectively). Upon
receipt of the ROFO Notice Teva will have the right, within thirty (30)&nbsp;days
of the date of the</TD>
</TR>


</TABLE>
</DIV>
<DIV align="left">
<DIV style="font-size: 3pt; margin-top: 16pt; width: 18%; border-top: 0px solid #000000">&nbsp;</DIV>
</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">
<TR>
    <TD width="3%"></TD>
    <TD width="1%"></TD>
    <TD width="96"></TD>
</TR>

<TR valign="top">
    <TD nowrap align="left">&#091;***&#093;</TD>
    <TD>&nbsp;</TD>
    <TD>Portions of this exhibit were omitted and filed separately
with the Secretary of the Securities and Exchange Commission pursuant
to the Registrant&#146;s application requesting confidential
treatment under Rule&nbsp;24b-2 of the Exchange Act.</TD>
</TR>

</TABLE>

<P align="center" style="font-size: 10pt"><!-- Folio --> - 9 - <!-- /Folio -->
</DIV>

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<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: Helvetica,Arial,sans-serif">


<DIV style="margin-top: 6pt"><TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">


<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="6%" style="background: transparent">&nbsp;</TD>
    <TD width="2%" nowrap align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>ROFO Notice, to select such protein as the Second Protein,
by written confirmation of such selection which selection Protalix shall be
deemed as being in agreement with. Protalix shall immediately notify Teva in
writing of the commencement of any negotiations with any third party regarding
the development or commercialization of any [***] protein during the
ROFO Period, and any such notice shall be deemed as a ROFO Notice pursuant to
this Section&nbsp;3.2.1, it being understood and agreed that Protalix shall not be
required to divulge the identity of such third party or any other detail of
such negotiations. The ROFO Notice shall in both cases be accompanied by any
Protalix&#146;s available information in respect of such [***] protein.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="6%" style="background: transparent">&nbsp;</TD>
    <TD width="2%" nowrap align="left">3.2.2</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>For the avoidance of doubt, Protalix shall not be required to offer
any protein to Teva more than once pursuant to this Section&nbsp;3.2.</TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="2%" nowrap align="left">3.3.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD><B>Substitution of a Protein</B></TD>
</TR>

</TABLE>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 10%">The Parties acknowledge and declare that their joint goal is that the
performance of the Feasibility Program will result in the development of two
(2)&nbsp;Proteins (within the timeframe envisaged hereunder) suitable, in
technological and marketing terms, for implementation of Stage 2 (as such
term is defined below). In furtherance thereof, the Parties may, at
any time during the performance of a Feasibility Program, by mutual consent (which
consent shall not be unreasonably withheld by either Party), and following
the recommendation of the R &#038; D Committee, decide upon the substitution of
the Protein in respect of which such Feasibility Program is being conducted
if the Parties are not satisfied with the results. Moreover, Teva, at its
sole discretion, shall be entitled to substitute the Protein(s) in respect of
which a Feasibility Program has been or is being conducted by another
protein, by instructing Protalix to cease the performance of a Feasibility
Program in progress, and to begin the performance of a Feasibility Program in
respect of a different protein to be selected by Teva as per the procedure
set out below, in each of the following events (i)&nbsp;during the first twelve
(12)&nbsp;months from the commencement of a certain Feasibility Program, for any
reason; or (ii)&nbsp;prior to the expiry of thirty (30)&nbsp;days after receipt by
Teva of the Final Feasibility Report, Initial Response, Additional Response
or Final Response (as the case may be), Teva reaches a decision that based on
scientific reasons it requires substitution of a certain Protein. Teva&#146;s
right to substitution under (i)&nbsp;and (ii)&nbsp;above shall exist only once with
respect to each Protein, and Teva shall be required to propose two new
proteins, each of which must be Contractually Free (as such term is defined
below), and Protalix shall have the right to choose one of them. Following
such selection, such new protein shall become a Protein for the purposes
hereof, and Protalix shall begin the performance of the Feasibility Program
in respect of the replacement Protein as shall be agreed between the Parties
at Protalix&#146; sole cost and expense. In any event, the replacement of one
Protein with another as set forth in this Section shall be subject to the
refund by Teva of the direct costs actually incurred by Protalix in the
performance of the Feasibility Program, until the date of mutual consent as
to, or the notice of, replacement (as the case may be), and winding down of
the Feasibility Program in respect of the Protein that was replaced (provided
</DIV>


<DIV align="left">
<DIV style="font-size: 3pt; margin-top: 16pt; width: 18%; border-top: 0px solid #000000">&nbsp;</DIV>
</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">
<TR>
    <TD width="3%"></TD>
    <TD width="1%"></TD>
    <TD width="96"></TD>
</TR>

<TR valign="top">
    <TD nowrap align="left">&#091;***&#093;</TD>
    <TD>&nbsp;</TD>
    <TD>Portions of this exhibit were omitted and filed separately
with the Secretary of the Securities and Exchange Commission pursuant
to the Registrant&#146;s application requesting confidential
treatment under Rule&nbsp;24b-2 of the Exchange Act.</TD>
</TR>

</TABLE>


<P align="center" style="font-size: 10pt"><!-- Folio --> - 10 - <!-- /Folio -->
</DIV>

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<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: Helvetica,Arial,sans-serif">


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 10%">that such winding down costs shall be mitigated by Protalix to the maximum
extent reasonably possible), which costs shall be evidenced by invoices and
other supporting documentation that shall be provided to Teva.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 10%">For the purposes of this Section, the term &#147;<B>Contractually Free</B>&#148; shall mean,
in respect of any protein, that no third party has been granted any rights by
Protalix in respect of such protein, whether pursuant to an agreement or a
term sheet or other similar legally binding document, that would preclude or
limit Protalix&#146;s ability to grant Teva the rights granted hereunder if such
protein were to become a Protein.
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="2%" nowrap align="left">3.4.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD><B>Teva&#146;s Option for Stage 2</B></TD>
</TR>

</TABLE>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 6%">Within two (2)&nbsp;months of the later of receipt by Teva of each Final Feasibility Program
Report, Initial Response, Additional Response or Final Response in conformance with
Section&nbsp;3.1.8 above (if at all) (the &#147;<B>Stage 2 Notice Period</B>&#148;), Teva, at its sole
discretion, shall notify Protalix in writing in respect of each Protein, if it wishes
to enter into the product development stage in respect of such Protein (&#147;<B>Stage 2</B>&#148;) (the
&#147;<B>Stage 2 Notice</B>&#148;).
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 6%">During the Stage 2 Notice Period Teva&#146;s representatives shall have the right to visit
and audit Protalix&#146;s facilities for the sole purpose of evaluating its interest in
entering
into Stage 2, at times to be coordinated in advance between the Parties.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 6%">In the event that Teva does not provide Protalix with the Stage 2 Notice during the
Stage 2 Notice Period with respect to any specific Protein, but provided that Protalix
furnishes all of the information duly requested by Teva pursuant to Section&nbsp;3.1.8
above, then this Agreement shall expire forthwith with respect to such Protein in which
case, other than as to the obligations of confidentiality as set forth in Section&nbsp;20
below and the obligation to return documentation as set forth in Section&nbsp;15.6 below:
(i)&nbsp;Teva shall not be obligated in any manner towards Protalix with respect to such
Protein; and (ii)&nbsp;Protalix shall not be obligated in any manner towards Teva with
respect to such Protein.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt">4. <U><B>Product Development &#151; Stage 2 </B></U>
</DIV>


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="2%" nowrap align="left">4.1.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>In the event that Teva elects to exercise its option to initiate the
performance of Stage 2 of the collaboration as to one or both Proteins, Stage 2
shall be carried out by the Parties in accordance with Development Plans (defined
below) to be determined pursuant to this Section&nbsp;4.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="2%" nowrap align="left">4.2.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Teva shall prepare preliminary development plans (the &#147;<B>Preliminary Plan(s)</B>&#148;),
in consultation with Protalix within [***] of Teva exercising its option
to initiate the Stage 2 collaboration. The Preliminary Plan(s) shall include
projected Licensed Product development activities, timelines and obligations of each
Party up to the completion of Phase I clinical trials in respect of the relevant
Protein.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="2%" nowrap align="left">4.3.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Stage 2 shall commence, as to each Protein (as applicable), immediately upon
the relevant Preliminary Plan being presented to the R&#038;D Committee (or in its
absence to Protalix) which shall be given the opportunity to comment thereon prior
to implementation, provided that in no event shall such entitlement to comment</TD>
</TR>


</TABLE>
</DIV>
<DIV align="left">
<DIV style="font-size: 3pt; margin-top: 16pt; width: 18%; border-top: 0px solid #000000">&nbsp;</DIV>
</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">
<TR>
    <TD width="3%"></TD>
    <TD width="1%"></TD>
    <TD width="96"></TD>
</TR>

<TR valign="top">
    <TD nowrap align="left">&#091;***&#093;</TD>
    <TD>&nbsp;</TD>
    <TD>Portions of this exhibit were omitted and filed separately
with the Secretary of the Securities and Exchange Commission pursuant
to the Registrant&#146;s application requesting confidential
treatment under Rule&nbsp;24b-2 of the Exchange Act.</TD>
</TR>

</TABLE>

<P align="center" style="font-size: 10pt"><!-- Folio --> - 11 - <!-- /Folio -->
</DIV>

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<DIV style="font-family: Helvetica,Arial,sans-serif">


<DIV style="margin-top: 6pt"><TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">


<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="2%" nowrap align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>derogate in any way from the full and sole discretion of Teva in respect of all
aspects of the Preliminary Plan(s) (and the Development Plan(s)) and the performance
thereof.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="2%" nowrap align="left">4.4.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>The Preliminary Plan shall be updated from time to time but not less often
than once every six (6)&nbsp;months, by Teva, in consultation with the R &#038; D Committee,
as per the progress of the different development phases (the Preliminary Plan so
updated being referred to hereinafter as the &#147;<B>Development Plan(s)</B>&#148;). The
Development Plan shall incorporate detailed development activities in respect of the
Licensed Product for the upcoming phase. Teva, in consultation with Protalix will
consider and determine Phase II clinical trial target activities, timelines and the
Parties&#146; obligations, which will become specific obligations of the Parties.
Notwithstanding the foregoing, Teva may update the Development Plan, at Teva&#146;s
discretion, in consultation with the R&#038;D Committee<B>, </B>at any time and from to time, to
reflect progress made as per the Development Plan. Without derogating from any of
the above, the outline of the activities of the Parties under the Development Plan,
as currently envisaged, is attached hereto as Annex 4.4.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="2%" nowrap align="left">4.5.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>The Development Plan shall specify the activities, timelines and division of
responsibilities between Teva and Protalix in respect of the performance of the
Stage 2 collaboration. Teva and Protalix shall each make commercially
reasonable efforts consistent with their respective normal business practices to
each pursue their obligations under the Development Plan, and shall each diligently
perform its tasks as set forth in the Development Plan. Without derogating from the
foregoing, in the course of the performance of Stage 2, Protalix shall be obligated
to provide Teva with manufacturing information as may be reasonably required by
Teva solely for the purpose of Teva&#146;s pursuing clinical development, and obtaining
regulatory approvals for and commercializing, Licensed Products.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="2%" nowrap align="left">4.6.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>At the end of each calendar quarter during the course of the performance of
Stage 2, each Party shall provide the other Party with periodic progress reports
regarding the progress of such Party&#146;s activities under Stage 2, in a form to be
agreed between the Parties. Each Party may, from time to time, request updates
regarding the progress of the other Party&#146;s activities during Stage 2, in addition
to the periodic progress reports, and pursuant to any reasonable request, the other
Party shall provide same.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="2%" nowrap align="left">4.7.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>In addition, Protalix shall provide Teva, at Teva&#146;s request, with reports, in
an agreed form, including financial reports in the format required by the Office of
the Chief Scientist (&#147;<B>CSO</B>&#148;) which Teva may be required to provide to the CSO in
order to obtain CSO support for Stage 2, in addition to the periodic progress
reports to be provided hereunder.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="2%" nowrap align="left">4.8.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Each Party shall perform its obligations under the Development Plan in
accordance with all applicable laws and regulations, and each Party shall procure
the receipt of all approvals and consents necessary for the performance of such
Party&#146;s obligations under the Development Plan. Without derogating from the
foregoing, it is clarified that approvals and consents necessary for the performance
by Protalix of its portion of the Development Plan and specifically related to the
Protein but also usable by Protalix in respect of other proteins shall be procured
by Protalix and the costs of same shall be allocated between Teva and Protalix in
accordance with the relative use of same in respect of the relevant Protein.</TD>
</TR>

</TABLE>
</DIV>
<P align="center" style="font-size: 10pt"><!-- Folio --> - 12 - <!-- /Folio -->
</DIV>

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<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: Helvetica,Arial,sans-serif">


<DIV style="margin-top: 6pt"><TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">


<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="2%" nowrap align="left">4.9.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Teva&#146;s representatives shall have the right to visit and audit Protalix&#146;s
facility where Licenced Product is manufactured, at times to be coordinated between
the Parties in advance, once Protalix commences the manufacture of clinical
quantities of Licensed Product, but not more often than twice every calendar year.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="2%" nowrap align="left">4.10.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Teva shall provide Protalix with copies of all regulatory filings and
approvals, investigational new drug (IND), chemistry manufacture and control (CMC)
files, new drug applications (NDA), drug master files, clinical protocols and
reports, and all modifications thereto, as well as material correspondence with
regulatory authorities. Teva shall keep Protalix currently informed about the
progress made towards obtaining regulatory approval of the Licensed Products in each
country and shall provide Protalix with written status reports on a quarterly basis.
Teva shall also notify Protalix, in writing, immediately upon the receipt of
regulatory approval of any Licensed Product in each country.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="2%" nowrap align="left">4.11.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>No later than [***] prior to the commencement by Teva of Phase III
clinical trials in respect of the Licensed Product(s), Protalix shall provide to
Teva (or shall instruct the Escrow Agent to release to Teva) the Backup
Manufacturing File.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="2%" nowrap align="left">4.12.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Protalix shall not be entitled to subcontract all or part of its tasks under
the Development Plan, without Teva&#146;s prior written consent. Should Protalix wish to
do so, Protalix shall so notify the R&#038;D Committee and Teva in writing, and Teva
shall have the right, at its sole discretion (but shall not be obligated), to
perform such tasks as Protalix&#146;s subcontractor, on the condition that Teva shall
perform same over a reasonable time period no longer than the time period that it
would take another reasonable third party to perform such task(s). For the sake of
clarity, in the event that Teva shall elect not to perform as Protalix&#146;s
subcontractor, and Protalix shall use a permitted subcontractor that is not Teva,
Protalix shall bear all responsibility and liability vis-&#224;-vis Teva arising from the
performance by such subcontractor. To the extent Teva wishes to subcontract any part
of its tasks under the Development Plan to any third party, it shall so notify the
R&#038;D Committee, it being understood and agreed that no subcontract by Teva shall be
made to a Protalix Competitor, except if and to the extent that Protalix is not
capable of performing the same service for Teva at a competitive market price. For
the sake of clarity and without limiting the foregoing, in the event that Teva shall
use a subcontractor for the performance of any of its obligations hereunder, Teva
shall bear all responsibility and liability vis-&#224;-vis Protalix arising from the
performance by such subcontractor.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="2%" nowrap align="left">4.13.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>The Parties hereby acknowledge that neither Party has guaranteed that Stage 2
will be successful or achieve any specific results or that any regulatory approvals
shall be granted with respect to the Licensed Products.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="2%" nowrap align="left">4.14.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>From the commencement of the performance of Protalix&#146;s obligations under
Stage 2, Teva shall bear all actual costs incurred or expended by Protalix directly
related to the performance of Protalix&#146;s activities included in Stage 2, according
to the budget proposed by Protalix and pre-approved in writing by Teva (the
&#147;<B>Budget</B>&#148;), as follows:</TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="8%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">4.14.1.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Protalix&#146;s direct development expenses and manufacturing costs for the performance of Protalix&#146;s
share of the development activities (including clinical material manufacturing), on a &#091;***&#093; basis
which shall include, &#091;***&#093;, shall be reimbursed on a &#091;***&#093; basis, as follows:</TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="15%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">a.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>&#091;***&#093;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="15%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">b.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>&#091;***&#093;</TD>
</TR>

</TABLE>
</DIV>

<DIV align="justify" style="font-size: 10pt; margin-top: 24pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">
<TR>
    <TD width="3%"></TD>
    <TD width="1%"></TD>
    <TD width="96"></TD>
</TR>

<TR valign="top">
    <TD nowrap align="left">&#091;***&#093;</TD>
    <TD>&nbsp;</TD>
    <TD>Portions of this exhibit were omitted and filed separately
with the Secretary of the Securities and Exchange Commission pursuant
to the Registrant&#146;s application requesting confidential
treatment under Rule&nbsp;24b-2 of the Exchange Act.</TD>
</TR>

</TABLE>

<P align="center" style="font-size: 10pt"><!-- Folio --> - 13 - <!-- /Folio -->
</DIV>

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<DIV style="font-family: Helvetica,Arial,sans-serif">




<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="8%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">4.14.2.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>All of Protalix&#146;s out-of-pocket expenses incurred in relation to the performance of the development
activities and the achievement of development milestones (&#147;<B>External Development Expenses</B>&#148;), shall
be reimbursed on a &#091;***&#093; basis &#091;***&#093;.</TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="2%" nowrap align="left">4.15.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>The amounts of the Budget described above shall be paid by Teva every &#091;***&#093;
months on a &#091;***&#093; rolling basis, whereby &#091;***&#093; of the relevant Budget for each &#091;***&#093;
shall be paid upfront at the beginning of such &#091;***&#093; period and the balance shall be
paid at the end of the relevant &#091;***&#093;, unless only part of the relevant tasks were
carried out during such period, in which case the balance shall be adjusted
accordingly. All payments shall be made against receipt of a proper tax invoice.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="2%" nowrap align="left">4.16.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>For the avoidance of doubt, it is clarified that (i)&nbsp;any in-licensing of
third party technology by Protalix for the purposes of the performance of the
Feasibility Programs or the Development Programs (or any one of them) and/or for the
incorporation of such third party technology into the process of the development or
manufacture of the Proteins and/or (ii)&nbsp;any use of third party technology (including
that of [***] already licensed to Protalix) by Protalix in the
performance of the Feasibility Programs (or any one of them) or in the development
or manufacture of the Proteins, shall require the prior written agreement of Teva,
and shall not be in-licensed or used, as applicable, in the event that such prior
written agreement of Teva is not provided. Payments to third parties in respect of
such licenses shall be borne and paid by [***]. For the avoidance of doubt,
any such approval by Teva rendered in the course of a Feasibility Program, shall
continue to apply during the Development Program and thereafter for as long as the
third party technology is in use in relation to Licensed Products commercialized by
Teva, its Affiliates, Sublicensees or Further Sublicensees, and may not be retracted
by Teva.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="2%" nowrap align="left">4.17.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Protalix shall be obligated to manufacture the Proteins, both for development
and commercial purposes for the sole consideration provided in Section&nbsp;4.14 above
and 10 below, in such quantities as shall be set forth in the Feasibility Program
(during Stage 1) and the Development Plan (during Stage 2), and thereafter, as per
orders placed by Teva pursuant to a separate manufacturing and supply agreement (the
&#147;<B>Supply Agreement</B>&#145;) to be entered into between the Parties by no later than the
initiation of Phase III regulatory clinical trials in respect of a Licensed Product.
Protalix shall manufacture the Proteins in accordance with applicable regulatory
requirements (such as GMP and GLP, as determined by Teva in consultation with
Protalix) and shall be fully responsible for its manufacturing activities (and those
of</TD>
</TR>


</TABLE>
</DIV>

<DIV align="left">
<DIV style="font-size: 3pt; margin-top: 16pt; width: 18%; border-top: 0px solid #000000">&nbsp;</DIV>
</DIV>
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">
<TR>
    <TD width="3%"></TD>
    <TD width="1%"></TD>
    <TD width="96"></TD>
</TR>

<TR valign="top">
    <TD nowrap align="left">&#091;***&#093;</TD>
    <TD>&nbsp;</TD>
    <TD>Portions of this exhibit were omitted and filed separately
with the Secretary of the Securities and Exchange Commission pursuant
to the Registrant&#146;s application requesting confidential
treatment under Rule&nbsp;24b-2 of the Exchange Act.</TD>
</TR>

</TABLE>


<P align="center" style="font-size: 10pt"><!-- Folio --> - 14 - <!-- /Folio -->
</div>

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<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: Helvetica,Arial,sans-serif">


<DIV style="margin-top: 6pt"><TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">


<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="2%" nowrap align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>any third party on its behalf). The Supply Agreement shall govern the procedures
for ordering and deliveries, lead time for deliveries, quality assurance,
specifications and all other matters related to the manufacture and supply of the
API by Protalix in accordance with the relevant regulatory requirements as shall be
determined by Teva in consultation with Protalix, reflecting the commercial terms
set out in Section&nbsp;10.4 hereunder. Key elements of the Supply Agreement shall be set
forth in <U><B>Annex 4.17</B></U> which shall be attached hereto within thirty (30)&nbsp;days
of the Effective Date.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="2%" nowrap align="left">4.18.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Any deviation from the approved Budget for Stage 2 shall require notification
to Teva in advance, provided that any such deviation in excess of
&#091;***&#093; shall also require the prior approval of Teva.</TD>
</TR>

</TABLE>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt">5. <U><B>Research and Development Committee</B></U>
</DIV>


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="2%" nowrap align="left">5.1.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>The Parties shall form a Research and Development Committee (the &#147;<B>R &#038; D
Committee</B>&#148;), that shall be active for the duration of the Feasibility Program and the
Development Plan. During Stage 1 the R &#038; D Committee shall have the charter to adjust
and amend the Feasibility Program (per Protein), as required for scientific or
technological reasons. During Stage 2 the R &#038; D Committee shall monitor the
performance of the Development Plans, the research and other activities being
conducted thereunder, and shall issue its recommendations in writing to the Parties,
but shall have no decision making authority. The R&#038;D Committee shall be comprised of
four (4)&nbsp;members, having one vote each, of which two (2)&nbsp;shall be appointed by each
Party, including one co-chairperson appointed by each Party. Only employees of the
Parties can be appointed to serve on the R&#038;D Committee. The R&#038;D Committee shall meet
periodically (but in any event no less than quarterly) during the performance of the
Feasibility Program and Development Plan.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="2%" nowrap align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>In the event that, during the term of a Feasibility Program, the members of the R&#038;D
Committee cannot agree on an issue within the scope of its authority within thirty
(30)&nbsp;days of its initial consideration, the matter shall be referred by either
co-chairpersons in writing to one (1)&nbsp;expert, the identity of whom shall be mutually
agreed upon, for a reasoned determination in writing. In the event that, during the
term of the Development Plan, the members of the R&#038;D Committee cannot agree on a
recommendation to be made to Teva, then the members appointed by Teva shall have a
casting vote in respect of such recommendation.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="2%" nowrap align="left">5.2.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>At each R&#038;D Committee meeting, at least one (1)&nbsp;member appointed by each Party
present in person or by telephone shall constitute a quorum. Each Party shall have
equal voting power, whether represented by one or two Committee members, on all
matters before the R&#038;D Committee.</TD>
</TR>

</TABLE>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt">6. <U><B>License Grant</B></U>
</DIV>


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="2%" nowrap align="left">6.1.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Subject only to the provision of the Stage 2 Notice by Teva, Protalix hereby
grants Teva, and Teva hereby accepts from Protalix, an exclusive world-wide license
under the Platform IP, the Protein IP and the Other IP owned by or licensed to
Protalix (collectively, the &#147;<B>Licensed Information</B>&#148;) to research, develop, make, have
made, register, import, manufacture, use, sell, offer for sale, produce, sublicense,
commercialize, distribute the Proteins and/or pharmaceutical products embodying,</TD>
</TR>

</TABLE>
</DIV>


<DIV align="left">
<DIV style="font-size: 3pt; margin-top: 16pt; width: 18%; border-top: 0px solid #000000">&nbsp;</DIV>
</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">
<TR>
    <TD width="3%"></TD>
    <TD width="1%"></TD>
    <TD width="96"></TD>
</TR>

<TR valign="top">
    <TD nowrap align="left">&#091;***&#093;</TD>
    <TD>&nbsp;</TD>
    <TD>Portions of this exhibit were omitted and filed separately
with the Secretary of the Securities and Exchange Commission pursuant
to the Registrant&#146;s application requesting confidential
treatment under Rule&nbsp;24b-2 of the Exchange Act.</TD>
</TR>

</TABLE>

<P align="center" style="font-size: 10pt"><!-- Folio --> - 15 - <!-- /Folio -->
</DIV>

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<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: Helvetica,Arial,sans-serif">


<DIV style="margin-top: 6pt"><TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">


<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="2%" nowrap align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>based on or using the Proteins (the &#147;<B>Licensed Products</B>&#148;) for all indications (the
&#147;<B>License</B>&#148;) and for no other purposes whatsoever.</TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="2%" nowrap align="left">6.1A</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>To the extent that the Parties shall mutually agree that any Additional Patents are
reasonably required to be licensed to Teva in order for Teva to commercialize any
Licensed Product(s), then the same shall be added to the list of the Platform Patents and
as of such time shall be deemed as being covered by the License hereunder, as part of the
Platform IP, provided that at the relevant point in time an exclusive license in respect
of such Additional Patent has not already been granted to a third party by Protalix, it
being understood and agreed, however, that any such Additional Patents may not be
sub-licensed by Teva on a stand alone basis.</TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="2%" nowrap align="left">6.2.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>From the Effective Date and at all times prior to [***] with respect to any particular Protein, Protalix shall not, without
Teva&#146;s prior written consent, grant or enter into any agreement, arrangement or
commitment according to which a third party is granted any rights which may derogate
from or hinder Teva&#146;s ability to exercise Teva&#146;s option to obtain the License.</TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="2%" nowrap align="left">6.3.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Teva shall have the right to grant (whole or partial) Sublicenses to third
parties (and such third parties shall be entitled to grant further Sublicenses
(each, a &#147;<B>Further Sublicense</B>&#148; and the term &#147;<B>Further Sublicensee</B>&#148; shall be construed
accordingly) and so on under the License, on terms and conditions consistent with
the terms of this Agreement and Teva shall be entitled to determine the commercial
terms of any such Sublicense, all provided that under no circumstances may any
Sublicense or Further Sublicense be granted to a Protalix Competitor, unless such
Sublicense or Further Sublicense is not granted in respect of the core technology of
Protalix (for example, but without limitation, a Sublicense or Further Sublicense
may be granted in respect of the marketing and/or distribution of the Licensed
Products(s) even to a Protalix Competitor), and provided further that all of
Protalix&#146;s rights hereunder shall be ensured and, without limiting the generality of
the foregoing, that, with respect to each Sublicense or Further Sublicense
agreement: (i)&nbsp;Teva notifies Protalix immediately upon signature thereof, and
provides Protalix with the name of the Sublicensee or Further Sublicensee and the
scope and territory of the Sublicense or Further Sublicense; (ii)&nbsp;each such
Sublicense and Further Sublicense agreement (a)&nbsp;provides that the Sublicense or
Further Sublicense thereunder shall immediately terminate upon termination of the
License hereunder for any reason, and (b)&nbsp;restricting the right to grant a Further
Sublicense to a Protalix Competitor. The grant of any Sublicenses and Further
Sublicenses shall not derogate from the rights of Protalix and/or the obligations of
Teva under this Agreement. Without limiting the foregoing or any of Teva&#146;s
obligations hereunder relating to the grant of Sublicenses or Further Sublicenses
pursuant hereto, Teva shall be entitled to conduct or to perform any activity in
respect of the Licensed Products by means of any third party sub-contractor, and
such conduct shall not be considered to be a grant of a sublicense, provided it
shall notify the R&#038;D Committee and/or Protalix of any such subcontract and provided
further that under no circumstances may Teva subcontract any of its tasks or
obligations hereunder to a Protalix Competitor unless such subcontract is made not
in respect of the core technology of Protalix (i.e. Teva shall be entitled to
conduct marketing or distribution activities through subcontractors which are
Protalix Competitors). For the sake of clarity and without limiting the foregoing,
in the event that Teva shall use a subcontractor, Teva shall bear all responsibility
and liability vis-&#224;-vis Protalix arising from the performance by such subcontractor.</TD>
</TR>


</TABLE>
</DIV>

<DIV align="left">
<DIV style="font-size: 3pt; margin-top: 16pt; width: 18%; border-top: 0px solid #000000">&nbsp;</DIV>
</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">
<TR>
    <TD width="3%"></TD>
    <TD width="1%"></TD>
    <TD width="96"></TD>
</TR>

<TR valign="top">
    <TD nowrap align="left">&#091;***&#093;</TD>
    <TD>&nbsp;</TD>
    <TD>Portions of this exhibit were omitted and filed separately
with the Secretary of the Securities and Exchange Commission pursuant
to the Registrant&#146;s application requesting confidential
treatment under Rule&nbsp;24b-2 of the Exchange Act.</TD>
</TR>

</TABLE>

<P align="center" style="font-size: 10pt"><!-- Folio --> - 16 - <!-- /Folio -->
</DIV>

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<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>


<DIV style="font-family: Helvetica,Arial,sans-serif">


<DIV style="margin-top: 6pt"><TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">



</TABLE>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt">7. <U><B>Commercialization of Licensed Products</B></U>
</DIV>


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="2%" nowrap align="left">7.1.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Teva undertakes, at its own expense, to make such commercially reasonable
efforts to commercialize the Licensed Products as are consistent with the commercial
efforts generally applied to products of similar potential at similar stages in
their life cycles, by Teva.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="2%" nowrap align="left">7.2.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Teva shall provide Protalix with a non-binding sales forecast for each of the
Major Countries, in writing, in respect of each Licensed Product, by no later than
[***] prior to the anticipated date of the first regulatory approval in
respect thereto. Such report shall be updated by Teva, in writing, on
a [***] basis. Moreover, each sales forecast shall be accompanied by a report of Teva&#146;s
and its Affiliates launch dates and main regulatory filings on a [***] basis
with respect to the Licensed Products. Teva shall also provide Protalix with similar
information with regard to such launch dates and filings in territories in which
Sublicensees and Further Sublicensees have conducted similar activities, to the
extent available to Teva.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="2%" nowrap align="left">7.3.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>For the removal of doubt, nothing contained in this Agreement shall be
construed as a warranty by Teva that any efforts to be exerted by Teva in connection
with this Agreement, including without limitation any development or any
commercialization to be carried out by it in connection with this Agreement, will
actually achieve their aims or any other results or succeed, and Teva makes no
warranties whatsoever as to any results to be achieved in consequence of the
carrying out of any such development, commercialization, efforts or activities.
Furthermore, Teva makes no representation to the effect that the commercialization
of the Licensed Products, or any part thereof, will succeed, or that it shall be
able to sell the Licensed Products in any quantity.</TD>
</TR>

</TABLE>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt">8. <U><B>Milestones and Royalty Payments </B></U>
</DIV>


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="2%" nowrap align="left">8.1.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>In consideration for the grant of the License, Teva shall make the following
milestone payments to Protalix, upon achievement of the relevant
milestones on a &#091;***&#093; basis (each, a &#147;<B>Milestone</B>&#148;) (the &#147;<B>Milestone Payments</B>&#148;):</TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="6%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">8.1.1</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>with respect to the &#091;***&#093; Licensed Product that shall be approved for
marketing by the FDA or the EMEA based on a certain Protein (the &#147;&#091;***&#093; <B>Licensed
Product</B>&#148;):</TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="9%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">(a)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Upon receipt of marketing authorization approval for a &#091;***&#093;
Licensed Product by the first to approve same of either the FDA or the EMEA -
&#091;***&#093;.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="9%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">(b)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Upon the achievement by Teva of aggregate Net Sales of &#091;***&#093;
worldwide per such &#091;***&#093; Licensed Product at any given time, &#091;***&#093; on which the
aforementioned &#091;***&#093; Licensed Product is based in the US or in the EU Market,
during at least &#091;***&#093;.</TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="6%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">8.1.2</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>with respect to the &#091;***&#093; Licensed Product (as defined below) that shall be
approved for marketing by the FDA or the EMEA based on a certain Protein:</TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="9%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">(a)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Upon receipt of marketing authorization approval for a &#091;***&#093;
Licensed Product by the first to approve same of either the FDA or the EMEA -
&#091;***&#093;.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="9%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">(b)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Upon the achievement by Teva of aggregate Net Sales of &#091;***&#093;
worldwide per such &#091;***&#093; Licensed Product at any given time, &#091;***&#093; on which the
aforementioned &#091;***&#093; Licensed Product is based in the US or in the EU Market,
during at least &#091;***&#093;.</TD>
</TR>

</TABLE>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">&#091;***&#093; of the aforementioned sums of &#091;***&#093; (in respect of both the &#091;***&#093; Licensed Product and
the &#091;***&#093; Licensed Product) shall be considered to have been paid on account of Royalty
Payments pursuant to Section&nbsp;8.2 in respect of such &#091;***&#093; Licensed Product and &#091;***&#093;
Licensed Product respectively, such that amounts payable by Teva hereunder as Royalty
Payments in respect of such &#091;***&#093; Licensed Product and &#091;***&#093; Licensed Product respectively
shall be reduced by &#091;***&#093;. For the avoidance of doubt, it is clarified that, in respect of
each of such &#091;***&#093; Licensed Product and &#091;***&#093; Licensed Product respectively, following the
payment of said &#091;***&#093;, Teva shall temporarily cease making Royalty Payments in respect of
such &#091;***&#093; Licensed Product or &#091;***&#093; Licensed Product, as applicable and shall only actually
begin making such Royalty Payments again from the first dollar received in Net Sales from
such &#091;***&#093; Licensed Product or &#091;***&#093; Licensed Product, as applicable, exceeding the amount
of Net Sales applicable to the payment of &#091;***&#093; in Royalty Payments.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">&#091;***&#093;
</DIV>

<DIV align="left" style="margin-left: 0%; text-indent: 0%; margin-right: 0%; font-size: 10pt; margin-top: 6pt">For clarification, Teva shall not make any Milestone Payments for additional Licensed Products
beyond the &#091;***&#093; and &#091;***&#093; Licensed Products with respect to each Protein, i.e. no more than &#091;***&#093;
Milestone Payments in the aggregate.</DIV>

<DIV style="margin-top: 6pt">


<DIV align="justify" style="font-size: 10pt; margin-top: 12pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">
<TR>
    <TD width="3%"></TD>
    <TD width="1%"></TD>
    <TD width="96"></TD>
</TR>

<TR valign="top">
    <TD nowrap align="left">&#091;***&#093;</TD>
    <TD>&nbsp;</TD>
    <TD>Portions of this exhibit were omitted and filed separately
with the Secretary of the Securities and Exchange Commission pursuant
to the Registrant&#146;s application requesting confidential
treatment under Rule&nbsp;24b-2 of the Exchange Act.</TD>
</TR>

</TABLE>

</DIV>
<P align="center" style="font-size: 10pt"><!-- Folio --> - 17 - <!-- /Folio -->
</DIV>

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<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: Helvetica,Arial,sans-serif">




<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="2%" nowrap align="left">8.2.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>In addition, in consideration for the grant of the License, Teva shall,
throughout the Royalty Term (as such term is defined below), pay to Protalix
royalties at the following rates on annual Net Sales, during each calendar year in
respect of each Licensed Product, on a &#091;***&#093; (the &#147;<B>Royalty Payments</B>&#148;), as specified in this Section&nbsp;8.2 below:</TD>
</TR>

</TABLE>
</DIV>


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="6%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">(a)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>&#091;***&#093; of Net Sales in the calendar year on the portion of annual Net Sales for the
relevant Licensed Product up to &#091;***&#093; of Net Sales during the time that &#091;***&#093;;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="6%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">(b)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>&#091;***&#093; of Net Sales in the calendar year on the portion of annual Net Sales for the
relevant Licensed Product exceeding &#091;***&#093; and up to &#091;***&#093; of Net Sales during the time that
&#091;***&#093;;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="6%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">(c)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>&#091;***&#093; of Net Sales in the calendar year on the portion of annual Net Sales for the
relevant Licensed Product exceeding &#091;***&#093; and up to &#091;***&#093; of Net Sales during the time that
&#091;***&#093;;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="6%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">(d)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>&#091;***&#093; of Net Sales in the calendar year on the portion of annual Net Sales for the
relevant Licensed Product exceeding &#091;***&#093; and up to &#091;***&#093; of Net Sales during the time that
&#091;***&#093;; and</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="6%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">(e)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>&#091;***&#093; of Net Sales in the calendar year on the portion of annual Net Sales for the
relevant Licensed Product exceeding &#091;***&#093; of Net Sales during the time that &#091;***&#093;.</TD>
</TR>

</TABLE>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">For the avoidance of doubt, it is hereby clarified that the &#091;***&#093; Royalty Payments due to
Protalix on account of Teva having achieved &#091;***&#093; shall apply only to that certain market in
which the &#091;***&#093; exists and for the duration of such existence. An example of the amount of
Royalty Payments to be made is given in <B>Annex 8.2 </B>hereto.
</DIV>



<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="2%" nowrap align="left">8.3.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>It is further clarified that in the event of &#091;***&#093; in at least one country in the EU Market, then
all countries of the EU shall be considered as territories in which &#091;***&#093; and the Royalty Payments
shall be computed accordingly; and for so long as there exists a &#091;***&#093; in ALL the countries of the
EU Market, then all countries of the EU shall be considered territories in which &#091;***&#093; and the
Royalty Payments shall be computed accordingly.</TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="2%" nowrap align="left">8.4.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Notwithstanding the foregoing, in the event that any
&#091;***&#093; is sold
in the form of a Combination Product, then the proportion of such Combination
Product to</TD>
</TR>

</TABLE>
</DIV>

<DIV align="left">
<DIV style="font-size: 3pt; margin-top: 16pt; width: 18%; border-top: 0px solid #000000">&nbsp;</DIV>
</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">
<TR>
    <TD width="3%"></TD>
    <TD width="1%"></TD>
    <TD width="96"></TD>
</TR>

<TR valign="top">
    <TD nowrap align="left">&#091;***&#093;</TD>
    <TD>&nbsp;</TD>
    <TD>Portions of this exhibit were omitted and filed separately
with the Secretary of the Securities and Exchange Commission pursuant
to the Registrant&#146;s application requesting confidential
treatment under Rule&nbsp;24b-2 of the Exchange Act.</TD>
</TR>

</TABLE>


<P align="center" style="font-size: 10pt"><!-- Folio --> - 18 - <!-- /Folio -->
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: Helvetica,Arial,sans-serif">


<DIV style="margin-top: 6pt"><TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">


<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="2%" nowrap align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>be attributed to Net Sales that are subject to the Royalty Payments (the
&#147;<B>Relevant Proportion</B>&#148;) shall be calculated as
provided below.<br><br>
Provided that both active ingredients of the Combination Product are sold on a
stand-alone basis at the time in question, the Relevant Proportion
shall be as follows: &#091;***&#093;, where A is the Net Sale price of the Protein-based component of the Licensed
Product sold separately, and B is the Net Sale price of the other
component sold separately.<BR><BR>
&#091;***&#093;<BR><BR>
In the event that the components of the Combination Product are not each sold on a stand-alone
basis at the time in question, the fraction above shall be calculated using the reasonably
estimated commercial value of each component. Any such estimates shall be determined using
criteria to be mutually agreed upon by the Parties.<BR><BR>
For the purposes of determining Royalty Payments on a Combination Product, Net Sales shall be
determined by multiplying the actual Net Sales of such Combination Product by the Relevant
Proportion, and Teva shall make Royalty Payments to Protalix accordingly (for example &#151; with
respect to the said demonstrated numbers the Royalty Payments shall be applied only to &#091;***&#093; out of
&#091;***&#093; Net Sales of the Combination Product).<BR><BR>

For the avoidance of doubt, deductions from Net Sales pursuant to Section&nbsp;1.2.39 (vii) (i.e. based
on payments for third party&#146;s IP) shall not be made if triggered solely by the additional component
which is part of the Combination Product.
</table>


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="2%" nowrap align="left">8.5.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Payments to Protalix pursuant to this Section&nbsp;8 will be due and payable
hereunder until the expiration of &#091;***&#093;years after the First Commercial Sale in any
country calculated on &#091;***&#093; basis (in
each case, the &#147;<B>Royalty Term</B>&#148;).</TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="2%" nowrap align="left">8.6.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Following the expiry of the Royalty Term, &#091;***&#093;, Teva
shall have a fully paid up license to continue to exploit the License without
having to make Royalty Payments with respect thereto.</TD>
</TR>

</TABLE>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt">9. <U><B>Payment Terms and Reporting in Respect of the License</B></U>
</DIV>


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="2%" nowrap align="left">9.1.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>As of the achievement of the first Milestone pursuant to Section&nbsp;8.1.1 above,
and for the duration of the Royalty Terms, Teva shall submit to Protalix, no later
than [***] after the end of each [***], [***] reports
setting out all amounts owing to Protalix in respect of the [***] to
which the report refers, and with respect to each Licensed Product, (i)&nbsp;the Net
Sales [***],
including a breakdown of Net Sales according to country and currency of sales, (ii)
amounts deducted as royalties to third parties pursuant to Section&nbsp;1.2.39(vii),
(iii)&nbsp;total Milestone Payments and Royalty Payments due to Protalix in respect of
such [***] or, if no such payments are due to Protalix in respect of such
[***], a statement that no payments are due; and (iv)&nbsp;any calculations
made in relation to Combination Products. Teva shall submit to Protalix, by no
later than [***] after the end</TD>
</TR>


</TABLE>
</DIV>

<DIV align="left">
<DIV style="font-size: 3pt; margin-top: 16pt; width: 18%; border-top: 0px solid #000000">&nbsp;</DIV>
</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">
<TR>
    <TD width="3%"></TD>
    <TD width="1%"></TD>
    <TD width="96"></TD>
</TR>

<TR valign="top">
    <TD nowrap align="left">&#091;***&#093;</TD>
    <TD>&nbsp;</TD>
    <TD>Portions of this exhibit were omitted and filed separately
with the Secretary of the Securities and Exchange Commission pursuant
to the Registrant&#146;s application requesting confidential
treatment under Rule&nbsp;24b-2 of the Exchange Act.</TD>
</TR>

</TABLE>

</DIV>
<P align="center" style="font-size: 10pt"><!-- Folio --> - 19 - <!-- /Folio -->
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: Helvetica,Arial,sans-serif">


<DIV style="margin-top: 6pt"><TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">



</TABLE>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 5%">of each [***], an [***] report
setting out any adjustments in Royalty Payments pursuant to Section&nbsp;9.2A. Each such
report shall be signed by the relevant financial executive of the Global Products
division of Teva.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 5%">All such reports, as well as all other reports provided hereunder, shall be treated as
Confidential Information pursuant to Section&nbsp;20 below.
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="2%" nowrap align="left">9.2.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Amounts payable to Protalix in terms of Section&nbsp;8 shall be paid to Protalix
(i)&nbsp;in respect of Royalty Payments, on a [***] basis, and no later than [***] after the end of each [***],
commencing with the first
[***] in which Net Sales are made, (ii)&nbsp;in respect of Milestone Payments,
within [***] following the achievement of the applicable Milestone.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="2%" nowrap align="left">9.2A</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Notwithstanding, the [***] payments of Royalty Payments shall be paid based on
the assumption that no Market Advantage exists. Not later than [***] following the end
of a [***], Teva shall pay Protalix the additional nominal amounts of Royalty
Payments due in the event Market Advantage existed during such [***].</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="2%" nowrap align="left">9.3.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Each payment due to Protalix hereunder shall be paid by wire transfer of
immediately available funds to an account designated by Protalix in writing.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="2%" nowrap align="left">9.4.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Teva shall maintain and shall cause its Affiliates to maintain, complete and
accurate records of Licensed Products sold under this Agreement, any amounts payable
to Protalix in relation to such Licensed Products and which records shall contain
information to reasonably permit Protalix to confirm the accuracy of any payments
made to Protalix. Teva shall retain and shall cause its Affiliates to retain such
records relating to a given calendar year for at least
&#091;***&#093; after the
conclusion of that calendar year, during which time Protalix shall have the right,
at its expense, to cause an independent, certified public accountant to inspect such
records during normal business hours for the sole purpose of verifying any payments
delivered under this Agreement. Such accountant shall not disclose to Protalix any
information other than information relating to the accuracy of reports and payments
delivered under this Agreement. In the event that any audit performed under this
Section&nbsp;9.4 reveals an underpayment in excess of &#091;***&#093;in any calendar year, and if
such underpayment is proven to the satisfaction of a mutually agreed external
auditor (it being agreed that absent such mutual agreement as to the identity of the
auditor within thirty (30)&nbsp;days of a Party&#146;s written notice to the other Party that
it wishes to have such external auditor appointed, the external auditor shall be one
of the &#145;big four&#146; accounting firms), then Teva shall bear the full cost of such
audit. Protalix may exercise its rights under this Section only once every year and
only with reasonable prior notice to Teva, and the relevant Affiliate and subject to
prior coordination. Any such audit shall be made during Teva&#146;s or the relevant
Affiliate&#146;s normal business hours and shall not unreasonably interfere with the
business of Teva or the relevant Affiliate, and shall be completed within a
reasonable time. Teva shall promptly transfer to Protalix any payment due pursuant
to such auditor&#146;s audit. Such payment shall bear interest as set forth in Section
23.17.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="2%" nowrap align="left">9.5.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Without derogating from the provisions of the preceding Section&nbsp;9.4, Protalix
shall have the right to request that Teva inspect records of Licensed Products sold
under this Agreement by Sublicencees and Further Sublicensees, for the sole purpose
of verifying any payments delivered under this Agreement, in which case Teva shall
exert its reasonable commercial efforts to perform such audit. In the event that any
audit performed under this Section&nbsp;9.5 reveals an underpayment in excess of &#091;***&#093;,</TD>
</TR>


</TABLE>
</DIV>

<DIV align="left">
<DIV style="font-size: 3pt; margin-top: 16pt; width: 18%; border-top: 0px solid #000000">&nbsp;</DIV>
</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">
<TR>
    <TD width="3%"></TD>
    <TD width="1%"></TD>
    <TD width="96"></TD>
</TR>

<TR valign="top">
    <TD nowrap align="left">&#091;***&#093;</TD>
    <TD>&nbsp;</TD>
    <TD>Portions of this exhibit were omitted and filed separately
with the Secretary of the Securities and Exchange Commission pursuant
to the Registrant&#146;s application requesting confidential
treatment under Rule&nbsp;24b-2 of the Exchange Act.</TD>
</TR>

</TABLE>


<P align="center" style="font-size: 10pt"><!-- Folio --> - 20 - <!-- /Folio -->
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: Helvetica,Arial,sans-serif">


<DIV style="margin-top: 6pt"><TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">


<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="2%" nowrap align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>and if such underpayment is proven to the satisfaction of a mutually agreed external
auditor (to be appointed in accordance with the procedure set out in Section&nbsp;9.4
above), then Teva shall bear the full cost of such audit. In any other event (of
overpayment or underpayment of less &#091;***&#093;, Protalix shall bear the full cost of such
audit. Protalix may exercise its rights under this Section only once every year.
Teva or Protalix, as applicable, shall immediately pay to the other Party any
underpayment or overpayment together with interest provided in Section&nbsp;23.17 below.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="2%" nowrap align="left">9.6.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Protalix shall maintain, and shall cause its Affiliates to maintain, complete
and accurate records of both its Internal Expenses and External Development
Expenses, as well as records of costs incurred in the performance of each
Feasibility Program (for the event that Teva reimburses Protalix for same pursuant
to the substitution of a Protein), which records shall contain information to
reasonably permit Teva to confirm the accuracy of any payments made to Protalix.
Protalix and/or its Affiliates shall retain such records relating to a given
calendar year for at least seven (7)&nbsp;years after the conclusion of that calendar
year, during which time Teva shall have the right, at its expense, to cause an
independent, certified public accountant to inspect such records during normal
business hours for the sole purpose of verifying any payments delivered under this
Agreement. Such accountant shall not disclose to Teva any information other than
information relating to the accuracy of reports and payments delivered under this
Agreement. In the event that any audit performed under this Section&nbsp;9.6 reveals an
overpayment in excess of &#091;***&#093;in respect of any Protein, and if such overpayment is
proven to the satisfaction of a mutually agreed external auditor (to be appointed
in accordance with the procedure set in Section&nbsp;9.4 above), then Protalix shall
bear the full cost of such audit and shall promptly pay to Teva such overpayment
together with interest as provided in Section&nbsp;23.17 below. Teva may exercise its
rights under this Section only once every year and only with reasonable prior
notice to Protalix, and subject to prior coordination. Any such audit shall be made
during Protalix&#146;s or the relevant Affiliate (as applicable) normal business hours
and shall not unreasonably interfere with the business of Protalix or the relevant
Affiliate (as applicable) and shall be completed within a reasonable time.</TD>
</TR>

</TABLE>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt">10. <U><B>Bulk (API)&nbsp;Manufacturing Terms</B></U>
</DIV>


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="2%" nowrap align="left">10.1.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Notwithstanding Section&nbsp;6 above, Protalix shall retain the exclusive right to
manufacture the API and to continuously supply same to Teva and its Affiliates,
Sublicensees and Further Sublicensees, for the Licensed Products, during the first
&#091;***&#093; years following the First Commercial Sale of the first Licensed Product on a
per Protein basis (the &#147;<B>Exclusive Manufacturing Term</B>&#148;). Teva shall be responsible
for the formulation of the API into finished Licensed Product. Without derogating
from any other visit and audit right under this Agreement, as from [***]
prior to the expected commencement of the Exclusive Manufacturing Term, Teva&#146;s
representatives shall have the right to visit and audit Protalix&#146;s facilities where
the API is being manufactured, during normal business hours, and following prior
coordination with Protalix.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="2%" nowrap align="left">10.2.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Following the expiry of the Exclusive Manufacturing Term, Teva shall have the
right to manufacture the API [***] in its own facility or elsewhere, or through any third party which is not a
Protalix Competitor, at its sole discretion, subject to the appropriate undertakings
by the transferee of non-disclosure and non-use other than the supply to Teva and
its</TD>
</TR>


</TABLE>
</DIV>
<DIV align="left">
<DIV style="font-size: 3pt; margin-top: 16pt; width: 18%; border-top: 0px solid #000000">&nbsp;</DIV>
</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">
<TR>
    <TD width="3%"></TD>
    <TD width="1%"></TD>
    <TD width="96"></TD>
</TR>

<TR valign="top">
    <TD nowrap align="left">&#091;***&#093;</TD>
    <TD>&nbsp;</TD>
    <TD>Portions of this exhibit were omitted and filed separately
with the Secretary of the Securities and Exchange Commission pursuant
to the Registrant&#146;s application requesting confidential
treatment under Rule&nbsp;24b-2 of the Exchange Act.</TD>
</TR>

</TABLE>

<P align="center" style="font-size: 10pt"><!-- Folio --> - 21 - <!-- /Folio -->
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: Helvetica,Arial,sans-serif">


<DIV style="margin-top: 6pt"><TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">


<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="2%" nowrap align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Affiliates, Sublicensees and Further Sublicensees, and shall use the
Manufacturing Know-how (as such term is defined below) solely for such purpose.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="2%" nowrap align="left">10.3.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Without derogating from the above, Teva may elect, at its sole discretion, to
continue receiving Protalix&#146;s manufacturing services after expiration of the
Exclusive Manufacturing Term. In such event, Protalix undertakes to perform such
manufacturing services, for the sole consideration set forth in Section&nbsp;10.4
hereinafter.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="2%" nowrap align="left">10.4.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>As of the First Commercial Sale, Teva shall pay Protalix consideration based
on the actual direct cost of the manufacturing of the API incurred by Protalix to be
calculated pursuant to the Supply Agreement as shall be mutually
agreed &#091;***&#093;:</TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="6%" style="background: transparent">&nbsp;</TD>
    <TD width="2%" nowrap align="left">10.4.1.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>&#091;***&#093;.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="6%" style="background: transparent">&nbsp;</TD>
    <TD width="2%" nowrap align="left">10.4.2.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>&#091;***&#093;.</TD>
</TR>

</TABLE>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 5%">In addition, as of the beginning of the Exclusive Manufacturing Term and as long as &#091;***&#093;, Teva
shall pay Protalix &#091;***&#093; in relation to the manufacturing of the API and pre-approved by Teva,
&#091;***&#093; (&#147;<B>External Manufacturing Expenses</B>&#148;). External Manufacturing Expenses shall be reimbursed on
a &#091;***&#093; basis, &#091;***&#093;.
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="2%" nowrap align="left">10.5.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Notwithstanding the foregoing, in the event that the annual payments to
Protalix that consist of the &#091;***&#093; (calculated according to Section
10.4 above) plus the Royalty Payments on a &#091;***&#093; basis during any given
calendar year (the &#147;<B>Annual Protalix Payment</B>&#148;), shall exceed the amount of &#091;***&#093; of
the aggregate amount of annual Net Sales in such calendar year on a &#091;***&#093;
basis (the &#147;<B>Ceiling Amount</B>&#148;), then the Annual Protalix Payment, in respect of the
&#091;***&#093;, shall be reduced to an amount equal to the Ceiling Amount,
provided that in no event shall the Annual Protalix Payment in respect of the
&#091;***&#093;, be reduced to an amount less than &#091;***&#093; calculated on the
basis of &#091;***&#093;. Any over payment by Teva shall be set-off, by written notice from
Teva to Protalix, detailing the calculation of such over-payment, from the upcoming
Royalty Payment due to Protalix hereunder.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="2%" nowrap align="left">10.6.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>The Parties hereby acknowledge and agree that a back-up manufacturing
facility should be available in respect of the Proteins. Not later than six (6)
months prior to the commencement of Phase III clinical trials to be performed in
respect of the First Licensed Product on a per Protein basis, the Parties shall
mutually agree on the site at which such back-up manufacturing facility shall be
located, and the Party by whom such facility shall be established.</TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="4%" nowrap align="left">10.7.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>(A)&nbsp;Protalix shall transfer, on a per-Protein basis, to an agreed third party
(the &#147;<B>Escrow Agent</B>&#148;), by not later than date of the completion of Phase I (last
patient out) as set forth in the Development Plan, a complete file (the &#147;<B>Back-Up
Manufacturing File</B>&#148;) consisting of all engineering schemes, standard operating
procedures, protocols, plans, master manufacturing file, know how and any other
information, tangible or intangible, whether in writing, electronic form or
otherwise, and any updates thereof, which is reasonably necessary for Teva in</TD>
</TR>



</TABLE>
</DIV>

<DIV align="left">
<DIV style="font-size: 3pt; margin-top: 16pt; width: 18%; border-top: 0px solid #000000">&nbsp;</DIV>
</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">
<TR>
    <TD width="3%"></TD>
    <TD width="1%"></TD>
    <TD width="96"></TD>
</TR>

<TR valign="top">
    <TD nowrap align="left">&#091;***&#093;</TD>
    <TD>&nbsp;</TD>
    <TD>Portions of this exhibit were omitted and filed separately
with the Secretary of the Securities and Exchange Commission pursuant
to the Registrant&#146;s application requesting confidential
treatment under Rule&nbsp;24b-2 of the Exchange Act.</TD>
</TR>

</TABLE>


<P align="center" style="font-size: 10pt"><!-- Folio --> - 22 - <!-- /Folio -->
</DIV>

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<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: Helvetica,Arial,sans-serif">


<DIV style="margin-top: 6pt"><TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">



</TABLE>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 7%">order
to establish its own internal manufacturing facility and manufacture the API (the
&#147;<B>Manufacturing Know-how</B>&#148;). Concurrently with the transfer of the Back-Up
Manufacturing File to the Escrow Agent, a copy of the table of contents of such file
shall be transferred to the R&#038;D Committee. Teva may request, based on such table of
contents, that the Back-Up Manufacturing File be reviewed by a mutually agreed
industry expert (the &#147;<B>Industry Expert</B>&#148;) who may recommend in writing that the file
be supplemented, as may be reasonably required and Protalix shall supplement such
file as recommended within sixty (60)&nbsp;days
from the receipt by Protalix of such written recommendation. The Industry Expert
shall be bound by confidentiality undertakings to Protalix no less stringent
than those contained in Section&nbsp;20 hereof and shall not disclose to Teva any
information relating to or contained in the Back-Up Manufacturing File. The
Industry Expert shall sign a non-disclosure agreement to such effect.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 7%">(B)&nbsp;Subject to the terms of this Section&nbsp;10.7(B), the Escrow Agent shall be
authorized to release the Back-Up Manufacturing File to Teva, solely upon the terms
and conditions set out in a tri-party agreement to be executed between the Parties
and the Escrow Agent, in the form to be attached hereto within thirty (30)&nbsp;days of
the Effective Date hereof (the &#147;<B>Escrow Agreement</B>&#148;). Such Escrow Agreement shall
determine that the Back-Up Manufacturing File shall be released to Teva upon the
earlier of: (i)&nbsp;&#091;***&#093;; (ii)&nbsp;the occurrence
of a material breach by Protalix of its manufacturing obligations hereunder, which
breach is not rectified within sixty (60)&nbsp;days of receipt by Protalix of Teva&#146;s
written notice specifying the breach; and (iii)&nbsp;the grant of a winding-up order or
the appointment of a receiver in respect of Protalix, or the grant of an attachment
order on all, or a substantial portion of, Protalix&#146;s assets, which is not set aside
within ninety (90)&nbsp;days of the issuance thereof. The Back-Up Manufacturing File as
may be duly released to Teva pursuant to the Escrow Agreement may be utilized by
Teva solely for the establishment and operation of a facility for the manufacture of
the API. Following release of the Back-Up Manufacturing File to Teva, on the grounds
stated in (ii)&nbsp;or (iii)&nbsp;above, Teva shall be entitled to manufacture the API also
through a Protalix Competitor.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 7%">(C)&nbsp;Teva shall reimburse Protalix, for its reasonable expenses directly incurred and
associated with the preparation by Protalix of the Back-Up Manufacturing File for
submission to the Escrow Agent and for its costs associated with the services of the
Escrow Agent and the Industry Expert pursuant hereto (pursuant to invoices submitted
by the Escrow and Industry Expert and paid by Protalix).<U> </U>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt">11. <U><B>Intellectual Property Rights </B></U>
</DIV>


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="2%" nowrap align="left">11.1.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>The Parties agree that, as between the Parties, Protalix does and shall own
all rights, title and interest in and to the Platform IP. The Parties acknowledge
that certain of the Platform IP that might be developed by or for Protalix or a
subsidiary of Protalix (if such shall exist) following the Effective Date may be
subject to contractual limitations vis-&#224;-vis third parties. Such limitations (which
by their nature, would apply to the Proteins and/or the Licensed Products) shall
apply to Teva only if and to</TD>
</TR>

</TABLE>
</DIV>
<DIV align="left">
<DIV style="font-size: 3pt; margin-top: 16pt; width: 18%; border-top: 0px solid #000000">&nbsp;</DIV>
</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">
<TR>
    <TD width="3%"></TD>
    <TD width="1%"></TD>
    <TD width="96"></TD>
</TR>

<TR valign="top">
    <TD nowrap align="left">&#091;***&#093;</TD>
    <TD>&nbsp;</TD>
    <TD>Portions of this exhibit were omitted and filed separately
with the Secretary of the Securities and Exchange Commission pursuant
to the Registrant&#146;s application requesting confidential
treatment under Rule&nbsp;24b-2 of the Exchange Act.</TD>
</TR>

</TABLE>

<P align="center" style="font-size: 10pt"><!-- Folio --> - 23 - <!-- /Folio -->
</DIV>

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<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: Helvetica,Arial,sans-serif">


<DIV style="margin-top: 6pt"><TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">


<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="2%" nowrap align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>the extent Teva shall approve them in writing in
advance. Otherwise, Protalix shall be fully responsible for such contractual
limitations whether monetary or other.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="2%" nowrap align="left">11.2.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>In the event that during the collaboration hereunder, any subsidiary of
Protalix or any company with which Protalix merges (if such shall exist) shall
generate or own any IP that if generated or owned by Protalix would have been
considered part of the Licensed Information hereunder, then Protalix shall
immediately notify Teva of such IP and shall act immediately and ensure that such IP
shall be licensed to Protalix (or directly to Teva) and will become part of
the Licensed Information, licensed to Teva as provided hereunder, at no additional
cost to Teva. Such IP shall be classified as Platform IP, Protein IP or Other IP in
accordance with the terms hereof as if it had been generated by Protalix in the
first place.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="2%" nowrap align="left">11.3.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>All rights, title and interest in and to the Protein IP and Other IP
developed during the performance of the Feasibility Program, will be owned by
Protalix (&#147;<B>Protalix&#146;s Protein and Other IP</B>&#148;). For avoidance of doubt, Protalix&#146;s
Protein and Other IP will be considered part of the Licensed Information, and as
such, covered by the License hereunder.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="2%" nowrap align="left">11.3A</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>In the event that there is any portion of Platform IP that specifically and
directly relates (but does not solely relate) to one or more of the Proteins, and
Protalix shall seek patent protection in respect of such portion of the Platform IP,
then, to the extent possible: the Parties shall co-operate in order that the patent
protection sought shall be filed in a manner that will split/ distinguish between
patents covering Platform IP that solely relates to the Proteins and other Platform IP.
The patent applications/ patents filed in respect of Platform IP that solely relates to
the Proteins(s) shall be considered part of the Protein IP, and not Platform IP.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="2%" nowrap align="left">11.4.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Notwithstanding the above, in the event that a Change of Control of Protalix
is effected following the commencement of Stage 2, such that a Teva Competitor
acquires Control of Protalix, Teva shall have the right, at its sole discretion, to
receive an assignment of all Protalix Protein and Other IP without any assignment
fee. Protalix&#146;s Protein and Other IP so assigned to Teva shall be treated hereunder
as Teva IP (as defined below) for all intents and purposes, provided however that
the economic benefits to Protalix under this Agreement, including <I>inter alia</I>, its
right to receive Royalty Payments and Milestone Payments, shall not be diminished as
a result of such assignment, in any way.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="2%" nowrap align="left">11.5.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>A &#147;<B>Change of Control</B>&#148; means (i)&nbsp;the sale of all or substantially all of the
assets of Protalix, or (ii)&nbsp;any transaction between Protalix or its shareholders and
another entity/ies as a result of which another company/ies, or another company/ies&#146;
ultimate shareholder/s, directly or indirectly shall own more than fifty percent
(50%) of the shares of Protalix or its successor, or has/ve the power to elect more
than half of Protalix&#146;s or its successor&#146;s directors. A
&#147;<B>Teva Competitor</B>&#148; means [***].</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="2%" nowrap align="left">11.6.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>All Protein IP and Other IP developed as of the date on which Teva provides
the Stage 2 Notice, by or for Protalix, jointly by or for both Parties, or by or for
Teva, shall be exclusively owned by Teva, and Teva shall have all right, title and
interest thereto (the &#147;<B>Teva IP</B>&#148;).</TD>
</TR>

</TABLE>
</DIV>
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">
<TR>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%"></TD>
    <TD width="96"></TD>
</TR>

<TR valign="top">
    <TD nowrap align="left">&#091;***&#093;</TD>
    <TD>&nbsp;</TD>
    <TD>Portions of this exhibit were omitted and filed separately
with the Secretary of the Securities and Exchange Commission pursuant
to the Registrant&#146;s application requesting confidential
treatment under Rule&nbsp;24b-2 of the Exchange Act.</TD>
</TR>

</TABLE>

<P align="center" style="font-size: 10pt"><!-- Folio --> - 24 - <!-- /Folio -->
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: Helvetica,Arial,sans-serif">


<DIV style="margin-top: 6pt"><TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">


<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="2%" nowrap align="left">11.7.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Teva hereby grants Protalix a non-exclusive, royalty-free, perpetual license
to use such portion of the Other IP included in the Teva IP that shall be developed
solely by Protalix&#146;s employees, for any purpose that is not related in any manner to
the manufacturing, developing, selling and/or commercialization of the Proteins or
the Licensed Products (which Teva IP, for the avoidance of doubt, shall include any
Other IP that may be assigned to Teva pursuant to Section&nbsp;11.4 above).</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="2%" nowrap align="left">11.8.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Except as otherwise set forth in this Agreement, Teva and Protalix shall
retain their respective unrestricted rights to make, have made, use and sell all
such data, information, discoveries or inventions that are or may be owned by them,
provided however that Protalix shall not be entitled to sell, pledge (other than in
the ordinary course of business for the receipt of credit-lines) or assign any
portion of the Licensed Information without prior written approval by Teva.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="2%" nowrap align="left">11.9.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Each Party hereto undertakes to sign, execute and deliver all documents and
papers that may be required, and perform such other acts as may be reasonably
required in the circumstances, in order to ensure the division of the intellectual
property rights between the Parties in accordance with the terms of this Section&nbsp;11,
as well as the filing of any and all patents arising hereunder and the registration
of the License granted hereunder.</TD>
</TR>

</TABLE>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt">12. <U><B>Prosecution and Protection of Intellectual Property</B></U>
</DIV>



<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%"><B>Patent Filing</B>
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="2%" nowrap align="left">12.1.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Throughout the term of the License granted hereunder,
&#091;***&#093; shall be
obligated, at its own expense, to file, record, prosecute, and maintain all patent
rights with respect to the  &#091;***&#093; in the countries as set forth in <U><B>Annex 12.1</B>
</U>attached hereto (the &#147;<B>Current Countries</B>&#148;). In addition, throughout the
performance of the Feasibility Program only, &#091;***&#093; shall be obligated to file,
record, prosecute and maintain, all patent rights with respect to the &#091;***&#093; in all
the Major Countries. In addition, &#091;***&#093; shall have the right, at its own expense, to
file, record, prosecute, and maintain all patent rights with respect to the &#091;***&#093;,
in all other countries which are not the Current Countries.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="2%" nowrap align="left">12.2.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Notwithstanding 12.1 above, as of the provision of Stage 2 Notice by &#091;***&#093;,
&#091;***&#093; shall, at &#091;***&#093; expense and as long as this Agreement is in effect, file,
record, prosecute and maintain all patent rights with respect to the &#091;***&#093;, in the
Major Countries, and, at its discretion, in the other countries of the world.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="2%" nowrap align="left">12.3.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Each Party shall provide the other Party with a prior written notice
regarding filing of each patent application which is filed pursuant to section 12.1
or 12.2, and shall furthermore give reasonable consideration to the comments
received by the other with respect to the filing of such patents. Each Party shall
provide the other with reasonable information relating to the prosecution of such
Party&#146;s IP &#091;***&#093;, and the maintenance and other proceedings relating thereto
including, without limitation, by providing copies of substantive communications,
notices, actions, search reports and third party observations submitted to or
received from patent offices. Provision of all such documentation and information
from one Party to the other shall be at no cost to the receiving Party.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="2%" nowrap align="left">12.4.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>In the event that &#091;***&#093; fails to file, record, prosecute or maintain all
patent rights with respect to the &#091;***&#093; in all the Current Countries or, as
applicable throughout the</TD>
</TR>

</TABLE>
</DIV>

<DIV align="left">
<DIV style="font-size: 3pt; margin-top: 16pt; width: 18%; border-top: 0px solid #000000">&nbsp;</DIV>
</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">
<TR>
    <TD width="3%"></TD>
    <TD width="1%"></TD>
    <TD width="96"></TD>
</TR>

<TR valign="top">
    <TD nowrap align="left">&#091;***&#093;</TD>
    <TD>&nbsp;</TD>
    <TD>Portions of this exhibit were omitted and filed separately
with the Secretary of the Securities and Exchange Commission pursuant
to the Registrant&#146;s application requesting confidential
treatment under Rule&nbsp;24b-2 of the Exchange Act.</TD>
</TR>

</TABLE>



<P align="center" style="font-size: 10pt"><!-- Folio --> - 25 - <!-- /Folio -->
</DIV>

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<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: Helvetica,Arial,sans-serif">


<DIV style="margin-top: 6pt"><TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">


<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="2%" nowrap align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>performance of the Feasibility Program, the &#091;***&#093; in any
of the Major Countries, which failure constitutes a breach of its obligations under
Section&nbsp;12.1 above, then &#091;***&#093; shall be entitled to terminate this Agreement and
to any other remedy provided to it under law.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="2%" nowrap align="left">12.5.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>If &#091;***&#093; elects not to file, record, prosecute or maintain all patent
rights with respect to the &#091;***&#093; in countries other than the Current Countries or,
as applicable, &#091;***&#093;, in any country of the world which is not one of the Major
Countries, &#091;***&#093; shall notify &#091;***&#093;in writing of such election to allow &#091;***&#093;, in
its sole discretion, to file and/or continue to prosecute such patent application
and/or maintain such patent in such country at its own cost and expense. In such
event, for as long as &#091;***&#093; continues to prosecute and maintain such patents,
then, in respect of such country, &#091;***&#093; shall not be obligated to pay &#091;***&#093; in such
country protected or to be protected by such patent until such time as &#091;***&#093; out of
pocket expenses incurred in prosecuting and/or maintaining such patents are
recouped. &#091;***&#093; shall notify &#091;***&#093; in writing of &#091;***&#093; election as aforesaid. For
the avoidance of doubt, it is hereby clarified that should &#091;***&#093; assume control
over the prosecution and maintenance of such patents as aforesaid, then at any time
thereafter &#091;***&#093; may, in its sole discretion, cease the prosecution and maintenance
of such patents, upon prior written notice to &#091;***&#093;.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="2%" nowrap align="left">12.6.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>If &#091;***&#093; elects not to file, record, prosecute or maintain all patent
rights with respect to the &#091;***&#093; in any of the Major Countries, &#091;***&#093; shall notify
&#091;***&#093; in writing of such election to allow &#091;***&#093;, in its sole discretion, to file,
record and/or continue to prosecute such patent application and/or maintain such
patent in such country. In such event, for as long as &#091;***&#093; continues to file,
record, prosecute and maintain such patents or patent applications and notifies
&#091;***&#093; of same, then, in respect of such country, with respect to the &#091;***&#093; in any
of the Major Countries, &#091;***&#093; shall reimburse &#091;***&#093; for &#091;***&#093; out of its patent
expenses.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="2%" nowrap align="left">12.7.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Nothing contained herein shall be deemed to be a warranty by either of the
Parties that they can or will be able to obtain patents on patent applications
included in the Licensed Information or that any such patents will afford adequate
or commercially worthwhile protection.</TD>
</TR>

</TABLE>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%"><U><B>Patent Enforcement</B></U>
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="2%" nowrap align="left">12.8.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>In the event that either Party hereto becomes aware of any product that is
made, used, or sold or any action that it believes infringes or misappropriates the
Licensed Information applicable to the Licensed Products or the Teva IP
(collectively, &#147;<B>Product IP</B>&#148;), such Party will promptly advise the other of all the
relevant facts and circumstances known to such first-mentioned Party in connection
with such infringement or misappropriation.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="2%" nowrap align="left">12.9.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Prior to the provisions of a Stage 2 Notice, with respect to &#091;***&#093;, &#091;***&#093;
shall, at its own expense, enforce the &#091;***&#093;, or any part thereof, against
infringement or misappropriation, bring an action against any third party suspected
of infringement or misappropriation of same and control the defense of any
counterclaim or declaratory judgment action (or other action) relating thereto;
&#091;***&#093; will fully cooperate with &#091;***&#093; at &#091;***&#093; expense, with respect to the
investigation and prosecution of such alleged infringement or misappropriation
including the eventual joining of &#091;***&#093; as a party to such action, as may be
required by the law of the particular forum where enforcement is being sought. Any
recovery obtained as a result of such action shall</TD>
</TR>

</TABLE>
</DIV>
<DIV align="left">
<DIV style="font-size: 3pt; margin-top: 16pt; width: 18%; border-top: 0px solid #000000">&nbsp;</DIV>
</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">
<TR>
    <TD width="3%"></TD>
    <TD width="1%"></TD>
    <TD width="96"></TD>
</TR>

<TR valign="top">
    <TD nowrap align="left">&#091;***&#093;</TD>
    <TD>&nbsp;</TD>
    <TD>Portions of this exhibit were omitted and filed separately
with the Secretary of the Securities and Exchange Commission pursuant
to the Registrant&#146;s application requesting confidential
treatment under Rule&nbsp;24b-2 of the Exchange Act.</TD>
</TR>

</TABLE>

<P align="center" style="font-size: 10pt"><!-- Folio --> - 26 - <!-- /Folio -->
</DIV>

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<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: Helvetica,Arial,sans-serif">


<DIV style="margin-top: 6pt"><TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">


<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="2%" nowrap align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>be applied first to the
documented costs and expenses actually incurred by &#091;***&#093;, and &#091;***&#093; shall retain any
and all remaining amounts recovered.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="2%" nowrap align="left">12.10.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>As of provision of the Stage 2 Notice, with respect to the &#091;***&#093;, &#091;***&#093; shall have
the first right, but not the obligation, to bring an action against any third party
suspected of infringement or misappropriation of same, and to control the defense of
any counterclaim or declaratory judgment action alleging invalidity or
non-infringement (or other action) relating thereto. If
&#091;***&#093; elects to bring such
action against a third party, &#091;***&#093; will fully cooperate with &#091;***&#093;, at &#091;***&#093;
expense, with respect to the investigation and prosecution of such alleged
infringement or misappropriation, including the joining of &#091;***&#093; as a party to such
action, as may be required by the law of the particular forum where enforcement is
being sought. Any recovery obtained as a result of such action shall be split, after
the deduction of the documented costs and expenses actually incurred by &#091;***&#093;, so
that &#091;***&#093; will be entitled to &#091;***&#093; and &#091;***&#093; shall retain &#091;***&#093; out of the amounts
which constitute compensation for loss of sales. All other amounts shall be retained
by &#091;***&#093;.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="2%" nowrap align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>As of provision of the Stage 2 Notice &#091;***&#093; may, at its own expense, enforce the &#091;***&#093;,
or any part thereof, against infringement or misappropriation, bring an action against
any third party suspected of infringement or misappropriation of same and control the
defense of any counterclaim or declaratory judgment action (or other action) relating
thereto if &#091;***&#093; fails, within sixty (60)&nbsp;days after becoming aware of such
infringement, or receiving notice from &#091;***&#093; of such infringement, to take reasonable
action to investigate such alleged infringement. &#091;***&#093; will fully cooperate with &#091;***&#093;,
at &#091;***&#093; expense, with respect to the investigation and prosecution of such alleged
infringement or misappropriation including the joining of &#091;***&#093; as a
party to such action, as may be required by the law of the particular forum where
enforcement is being sought. Any recovery obtained as a result of such action taken by
&#091;***&#093; shall be retained by &#091;***&#093; in full.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="2%" nowrap align="left">12.11.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Each Party shall execute all necessary and proper documents, take such actions as
shall be appropriate to allow the other Party to institute and litigate such
infringement actions referred to in this Section&nbsp;12, and shall otherwise cooperate
in the institution and litigation of such actions (including, without limitation,
consenting to being named as a party thereto). Each Party, in litigating any such
infringement actions, shall keep the other Party reasonably informed as to the
status of such actions.</TD>
</TR>

</TABLE>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><U><B>Patent Infringement</B></U>
</DIV>


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="2%" nowrap align="left">12.12.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>As of the provision of Stage 2 Notice by Teva, in the event that either Teva or
Protalix, or both of them, are sued by a third party alleging that the
commercialization of the Licensed Products infringes upon any intellectual property
rights of such third party the Party being so sued shall immediately give the other
Party notice of same.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="2%" nowrap align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Teva shall have the right to defend against such action, on behalf of both Parties, as
aforesaid within twenty (20)&nbsp;business days from the date the relevant suit becomes known
to Teva, and any expenses or costs incurred by Teva in connection with such action(s),
and any costs or amounts awarded to the counterparties in such action(s) shall be fully
borne by Teva and any recovery in such action shall be retained by Teva in full. In the
event that Teva does not exercise its right to defend in a certain country, then
Protalix shall be entitled to defend against such claim at its own cost and</TD>
</TR>


</TABLE>
</DIV>
<DIV align="left">
<DIV style="font-size: 3pt; margin-top: 16pt; width: 18%; border-top: 0px solid #000000">&nbsp;</DIV>
</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">
<TR>
    <TD width="3%"></TD>
    <TD width="1%"></TD>
    <TD width="96"></TD>
</TR>

<TR valign="top">
    <TD nowrap align="left">&#091;***&#093;</TD>
    <TD>&nbsp;</TD>
    <TD>Portions of this exhibit were omitted and filed separately
with the Secretary of the Securities and Exchange Commission pursuant
to the Registrant&#146;s application requesting confidential
treatment under Rule&nbsp;24b-2 of the Exchange Act.</TD>
</TR>

</TABLE>

<P align="center" style="font-size: 10pt"><!-- Folio --> - 27 - <!-- /Folio -->
</DIV>

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<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: Helvetica,Arial,sans-serif">


<DIV style="margin-top: 6pt"><TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">


<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="2%" nowrap align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>expense in
such country and any recovery in such action shall be retained by Protalix
in full. In addition, in such event that Protalix defends against such claim, Protalix
shall have the right to terminate the License provided hereunder in respect of such
country (in which the defense is taken) only with respect to the certain Licensed
Product as to which the claim relates.</TD>
</TR>

</TABLE>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%"><U><B>General</B></U>
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" style="background: transparent">&nbsp;</TD>
    <TD width="2%" nowrap align="left">12.13.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>A Party shall be deemed to have met its obligation to file, record, prosecute,
maintain, enforce and defend patents in accordance with Section&nbsp;12 above if its
decision is commercially reasonable solely in view of the foreseeable impact of any
action or inaction on the development or commercialization of Licensed Products.
For the sake of clarity, such obligations shall apply to the Platform Patents only
in respect of actions that may be taken in the Current Countries after the
Effective Date.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" style="background: transparent">&nbsp;</TD>
    <TD width="2%" nowrap align="left">12.14.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Protalix and Teva will reasonably co-operate in the defense of any claims brought
against the other Party pursuant to this Agreement and shall voluntarily join any
such litigation if so required by law. Protalix and Teva will execute all documents
reasonably necessary for the relevant Party to defend against such action, and shall
provide documents and help with making contact with witnesses that are or were their
employees, consultants or otherwise connected to them, whose testimony &#151; in the
judgment of the attorneys handling the law suit (or Teva&#146;s or Protalix&#146;s counsel in
the event the proceedings will be brought only on the name of one Party) &#151; is
necessary to allow such litigation to go forward.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" style="background: transparent">&nbsp;</TD>
    <TD width="2%" nowrap align="left">12.15.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>In no event shall either Party enter into any settlement, consent order, consent
judgment or any voluntary disposition of such action that would adversely affect the
rights of the other without the prior written consent of such other Party, which
consent shall not be unreasonably withheld.</TD>
</TR>

</TABLE>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt">13. <U><B>New Breakthrough Technology</B></U>
</DIV>


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="2%" nowrap align="left">13.1.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Should Protalix develop on its own or receive a license to Breakthrough
Technology, Protalix shall notify Teva thereof as soon as practicable, and provide
Teva with all information related thereto, and enter into discussions with Teva, in
good faith, with a view towards granting Teva or procuring the grant to Teva of an
exclusive worldwide license to utilize such Breakthrough Technology as it relates
solely to the Proteins and/or the Licensed Products, but shall not be bound to such
discussions if Teva did not initiate negotiation with Protalix in such respect for a
period exceeding &#091;***&#093; of its provision of such information to Teva as
provided above.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="2%" nowrap align="left">13.2.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>The license to the Breakthrough Technology shall be granted by Protalix to
Teva in return for [***], as shall be
discussed and agreed in good faith between the Parties.</TD>
</TR>

</TABLE>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 5%">For the purposes hereof, the term &#147;<B>Breakthrough Technology</B>&#148; means any [***].
</DIV>
<DIV align="left">
<DIV style="font-size: 3pt; margin-top: 16pt; width: 18%; border-top: 0px solid #000000">&nbsp;</DIV>
</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">
<TR>
    <TD width="3%"></TD>
    <TD width="1%"></TD>
    <TD width="96"></TD>
</TR>

<TR valign="top">
    <TD nowrap align="left">&#091;***&#093;</TD>
    <TD>&nbsp;</TD>
    <TD>Portions of this exhibit were omitted and filed separately
with the Secretary of the Securities and Exchange Commission pursuant
to the Registrant&#146;s application requesting confidential
treatment under Rule&nbsp;24b-2 of the Exchange Act.</TD>
</TR>

</TABLE>

<P align="center" style="font-size: 10pt"><!-- Folio --> - 28 - <!-- /Folio -->
</DIV>

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<DIV style="font-family: Helvetica,Arial,sans-serif">

<DIV align="left" style="font-size: 10pt; margin-top: 12pt">14. <U><B>Right of First Look &#150; GCD Product</B></U>
</DIV>


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="2%" nowrap align="left">14.1.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Protalix hereby grants Teva and Teva hereby accepts from Protalix a right of
first look (the &#147;<B>ROFL</B>&#148;) at Protalix&#146;s proprietary product based on
glucocerebrosidase which is currently under development, for the treatment of
Gauchers Disease and for other clinical indications (the &#147;<B>GCD Product</B>&#148;), to enable
Teva to evaluate its interest in obtaining an exclusive, worldwide license to
develop, commercialize, manufacture, market, distribute and sell the GCD Product for
all indications, including without limitation Gauchers Disease (the &#147;<B>GCD License</B>&#148;).</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="2%" nowrap align="left">14.2.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>The period of time during which the ROFL shall be valid, is referred to
hereunder as the &#147;<B>Evaluation Period</B>&#148;. The Evaluation Period shall start as of the
Effective Date and shall automatically terminate, on a per country basis, upon: (x)
Protalix exclusively licensing the GCD Product (with respect to all indications) to
one or more third parties in all of the Major Countries, or (y)&nbsp;the commercial
launch of the GCD Product by Protalix in all of the Major Countries, provided
Protalix fully complied with the provisions of this section 14. If licenses to third
parties in respect of the Major Countries subsequently terminates, the ROFL to Teva
shall be reinstated pursuant to the terms of this Section&nbsp;14.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="2%" nowrap align="left">14.3.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Throughout the Evaluation Period, Protalix shall submit to Teva within thirty
(30)&nbsp;days after the end of each calendar quarter, a written report briefly
describing all updates in its research and development activities in relation to the
GCD Product and the results thereof. Notwithstanding the above, if a material event
has occurred relating to the development of the GCD Product then Protalix shall so
notify Teva promptly.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="2%" nowrap align="left">14.4.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>At any time or times during the Evaluation Period Teva may notify Protalix in
writing, that it wishes to negotiate the terms and conditions of the GCD License
(the &#147;<B>Notice</B>&#148;). In such event, Protalix shall be bound to an exclusive negotiation
period of [***] as of the date of the Notice (the &#147;<B>Negotiation Period&#146;</B>)
during which time the Parties shall act in good faith and endeavor to finalize the
terms and conditions of a license agreement to govern the grant to Teva of the GCD
License (the &#147;<B>GCD License Agreement</B>&#148;). If the Parties fail to execute GCD License
Agreement by the expiry of the Negotiation Period, the Parties shall endeavor to
finalize the GCD License Agreement as soon as possible thereafter, without Protalix
being barred, however, from negotiating with any third party. The exclusive [***] Negotiation Period shall not occur more than [***]. For the
avoidance of doubt, under no circumstances shall Protalix be barred from launching
or commercially selling the GCD Product by itself and/or through an Affiliate, and
for as long as Protalix intends to do so in any Major Country (as evidenced by a
board resolution), Protalix shall <B>not </B>be required to conduct negotiations with Teva
following receipt of any Notice pursuant to this Section&nbsp;14.4, in respect to such
Major Country. Protalix shall provide Teva with a copy of such board resolution, at
its request.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="2%" nowrap align="left">14.5.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>During the Negotiation Period: (i)&nbsp;Teva shall have the right to evaluate the
GCD Product to determine its interest in receiving the GCD License, and to receive
all data and information related to the GCD Product generated or
received by Protalix prior to the commencement of or during the Negotiation Period,
excluding only information regarding commercial terms related to previous
negotiations with third parties; (ii)&nbsp;Protalix shall not grant any third party any
rights to or in respect of the GCD Product</TD>
</TR>

</TABLE>
</DIV>

<DIV align="left">
<DIV style="font-size: 3pt; margin-top: 16pt; width: 18%; border-top: 0px solid #000000">&nbsp;</DIV>
</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">
<TR>
    <TD width="3%"></TD>
    <TD width="1%"></TD>
    <TD width="96"></TD>
</TR>

<TR valign="top">
    <TD nowrap align="left">&#091;***&#093;</TD>
    <TD>&nbsp;</TD>
    <TD>Portions of this exhibit were omitted and filed separately
with the Secretary of the Securities and Exchange Commission pursuant
to the Registrant&#146;s application requesting confidential
treatment under Rule&nbsp;24b-2 of the Exchange Act.</TD>
</TR>

</TABLE>


<P align="center" style="font-size: 10pt"><!-- Folio --> - 29 - <!-- /Folio -->
</DIV>

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<DIV style="font-family: Helvetica,Arial,sans-serif">


<DIV style="margin-top: 6pt"><TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">


<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="2%" nowrap align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>which may interfere with the grant of the GCD License to Teva or provide any third party with any information relating to
the GCD Product.</TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="2%" nowrap align="left">14.6.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Without derogating from the above, should a third party show interest in
acquiring a license for the GCD Product for any indication from Protalix at any time
during the Evaluation Period except during a Negotiation Period, and Protalix will
decide to enter into negotiations with such third party (the &#147;<B>Third Party
Negotiation Period</B>&#148;), Protalix shall so notify Teva immediately in writing, and will
disclose to Teva all updated information regarding the GCD Product available during
and throughout the Third Party Negotiation Period such that Teva may be able to
negotiate in parallel with full and complete updated GCD Product information
disclosed. For the avoidance of doubt, Protalix shall not be entitled to accept an
offer from any third party in connection with the licensing of GCD Product for any
indication unless Protalix has first complied with the terms of this Section&nbsp;14.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="2%" nowrap align="left">14.7.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>In the event that, at the time Teva exercises its right to enter into the
Negotiation Period, Protalix is already in a Third Party Negotiation Period, then,
notwithstanding the exclusivity provision set forth above, Protalix may continue
negotiating with such third party ONLY, but not with any other third party or parties
(for so long as the Negotiation Period is in effect).</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="2%" nowrap align="left">14.8.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>It is hereby agreed that in the event that the Parties will agree upon a
definitive agreement with respect to the GCD License, such agreement shall include a
provision setting out a mechanism whereby Protalix will not compete with Teva through
a second generation GCD Product.</TD>
</TR>

</TABLE>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><U><B>14A</B></U> <U><B>Services by Teva regarding the [***]</B></U>
</DIV>


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="2%" nowrap align="left">14A.1</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Teva will provide Protalix with  &#091;***&#093;
with respect to the [***] for the performance of Phase III clinical trials, as set
forth in Section&nbsp;14A.3 below, all in accordance with applicable regulatory requirements
(collectively, the &#147;<B>[***] Services</B>&#148;).</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="2%" nowrap align="left">14A.2</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>The price of the [***] Services shall be &#091;***&#093; in the aggregate, and such price shall
be invoiced on a [***] basis, and paid within thirty (30)&nbsp;days of the end of the [***]
during which Protalix receives an invoice from Teva, subject to performance of such [***]
Services. Any material increase in the cost of the [***] Services stated above will be
discussed and negotiated in good faith between the management of both Parties.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="2%" nowrap align="left">14A.3</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>The [***] Services shall entail the provision of &#091;***&#093; which assumes that &#091;***&#093; will be used, and assumes a target fill volume of approximately
&#091;***&#093;. In the event that more than &#091;***&#093; shall be required by Protalix, the Parties hereto shall
mutually agree on an adjustment to the &#091;***&#093; to be provided hereunder, and the price per &#091;***&#093;
shall be calculated &#091;***&#093;.</TD>
</TR>

</TABLE>
</DIV>




<DIV align="left">
<DIV style="font-size: 3pt; margin-top: 16pt; width: 18%; border-top: 0px solid #000000">&nbsp;</DIV>
</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">
<TR>
    <TD width="3%"></TD>
    <TD width="1%"></TD>
    <TD width="96"></TD>
</TR>

<TR valign="top">
    <TD nowrap align="left">&#091;***&#093;</TD>
    <TD>&nbsp;</TD>
    <TD>Portions of this exhibit were omitted and filed separately
with the Secretary of the Securities and Exchange Commission pursuant
to the Registrant&#146;s application requesting confidential
treatment under Rule&nbsp;24b-2 of the Exchange Act.</TD>
</TR>

</TABLE>

<P align="center" style="font-size: 10pt"><!-- Folio --> - 30 - <!-- /Folio -->
</DIV>

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<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: Helvetica,Arial,sans-serif">


<DIV style="margin-top: 6pt"><TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">



</TABLE>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 5%">Teva shall compile the requisite batch production documentation or a batch master
file and provide the same to Protalix.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">14A.4 The comprehensive timeline and the detailed description of the [***] Services shall be
attached hereto as <U><B>Annex 14A.4</B></U> within thirty (30)&nbsp;days of the Effective Date.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">14A.5 Teva will provide Protalix with any regulatory documentation in its possession in
respect of the [***] Services, as may be required pursuant to an audit by regulatory
authorities and as may required for the submission of a CMC file (for example Media Fill,
Closure Integrity test, etc.). Protalix&#146;s QA representatives and/or regulatory QP persons
shall have the right to visit and audit Teva&#146;s [***] site for the sole purpose of
regulatory audit at times to be coordinated in advance between the Parties, but only to the
extent required by the relevant regulatory authorities for the conduct of the Phase III
clinical trials.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">14A.6 Following the completion of the performance of the [***] Services, Protalix shall have
the option to request that Teva continue the performance of the [***] with respect to the [***] on a
commercial basis (the &#147;<B>Commercial [***] Services</B>&#148;), and in the event that Protalix shall
request that Teva perform the Commercial [***] Services, the terms of same (including the
pricing of batch production) shall be negotiated in good faith between the Parties, to
reflect a competitive market price at the relevant time. For the avoidance of doubt, it is
clarified that Teva shall only be required to provide the Commercial [***] Services in the
event that both Parties hereto agree on the terms of the provision of same.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">14A.7 At any time, Protalix may request that Teva transfer to Protalix a technology
transfer file, and in such event Teva shall promptly provide the same to Protalix. The
reasonable costs of such transfer, as demonstrated by Teva, shall be reimbursed to Teva by
Protalix within thirty (30)&nbsp;days of the receipt from Teva of an invoice in respect of same,
along with supporting documentation.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt">15. <U><B>Term and Termination </B></U>
</DIV>


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="2%" nowrap align="left">15.1.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>This Agreement shall be effective from the date of receipt of all necessary
corporate approvals of Teva required in respect of this Agreement (the &#147;<B>Effective
Date</B>&#148;) and shall continue in full force and effect until terminated in accordance
with the terms hereof. For the avoidance of doubt, Protalix hereby acknowledges that
the approval of the Board of Directors of Teva is required,
and that in the event that such approval is not received, this Agreement shall have
no force or effect whatsoever.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="2%" nowrap align="left">15.2.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Teva shall have the right to terminate this Agreement for any reason with
respect to both or any specific Protein (the &#147;<B>Terminated Protein</B>&#148;), by providing
Protalix with</TD>
</TR>

</TABLE>
</DIV>
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">
<TR>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%"></TD>
    <TD width="96"></TD>
</TR>

<TR valign="top">
    <TD nowrap align="left">&#091;***&#093;</TD>
    <TD>&nbsp;</TD>
    <TD>Portions of this exhibit were omitted and filed separately
with the Secretary of the Securities and Exchange Commission pursuant
to the Registrant&#146;s application requesting confidential
treatment under Rule&nbsp;24b-2 of the Exchange Act.</TD>
</TR>

</TABLE>

<P align="center" style="font-size: 10pt"><!-- Folio --> - 31 - <!-- /Folio -->
</DIV>

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<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: Helvetica,Arial,sans-serif">


<DIV style="margin-top: 6pt"><TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">


<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="2%" nowrap align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>thirty (30)&nbsp;days prior written notice of such decision. In the event
that only one Protein is terminated, this Agreement shall remain in full force and
effect with respect to the remaining Protein which is not a Terminated Protein. No
compensation from Teva to Protalix shall be due as a result of such termination.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="2%" nowrap align="left">15.3.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Upon the termination of this Agreement by Teva pursuant to Section&nbsp;15.2
above, with respect to any specific Protein, the following shall apply:</TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="7%" style="background: transparent">&nbsp;</TD>
    <TD width="2%" nowrap align="left">15.3.1.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>the License granted to Teva by Protalix, with regard to
Licensed Products based on such Protein shall be terminated;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="7%" style="background: transparent">&nbsp;</TD>
    <TD width="2%" nowrap align="left">15.3.2.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Teva shall provide Protalix with a report summarizing its
development activities and the results up to termination.</TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="2%" nowrap align="left">15.4.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Without derogating from any other remedies that either Party hereto may have
under the terms of this Agreement or at law, each Party hereto shall have the right
to terminate this Agreement forthwith upon the occurrence of any of the following:</TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="5%" style="background: transparent">&nbsp;</TD>
    <TD width="2%" nowrap align="left">(i)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>the commission of a material breach by the other
Party hereto of its obligations hereunder, and such other
Party&#146;s failure to remedy such breach within sixty (60)&nbsp;days
after being requested in writing to do so by the non-breaching
Party; or</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="5%" style="background: transparent">&nbsp;</TD>
    <TD width="2%" nowrap align="left">(ii)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>the other Party&#146;s liquidation, whether voluntarily
or otherwise, or its entering into any arrangement with its
creditors.</TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="2%" nowrap align="left">15.5.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Notwithstanding anything to the contrary in this Agreement, to the extent
that a Party (the &#147;Respondent&#148;) reasonably and in good faith disagrees with any
assertion by the other Party (the &#147;<B>Claimant</B>&#148;) that there has been a material breach
of this Agreement by Respondent, and Respondent provides written notice to Claimant
of its disagreement and the basis for its belief (a &#147;<B>Rebuttal Notice</B>&#148;) within
fifteen (15)&nbsp;days after Respondent receives notice from Claimant of a breach, this
Agreement will remain in effect and any termination of this Agreement further to
Section&nbsp;15.4(i) hereunder will be suspended pending resolution of such disagreement
between the Parties as provided in Section&nbsp;23.18 below. The Parties will attempt to
resolve such disagreement as expeditiously as possible and Respondent will continue
to comply with the provisions of this Agreement, to the extent that they are not the
subject of the disagreement between the Parties. For the avoidance of doubt, it is
clarified that nothing in this Section&nbsp;15.5 shall derogate from Teva&#146;s right of
termination pursuant to Section&nbsp;15.2, at any time and for any reason.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="2%" nowrap align="left">15.6.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Upon termination of this agreement for whatever reason, each Party shall
immediately return to the other party all materials, reports, updates,
documentation, written instructions, notes, memoranda, discs or records or other
documentation or physical matter of whatsoever nature or description provided by
the other Party, except in the event that such material is owned by such Party
pursuant to the terms of this Agreement, and provided that each Party shall be
allowed to retain one (1)&nbsp;copy for archival purposes.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="2%" nowrap align="left">15.7.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>In the event that following termination of this Agreement for convenience or
breach by Teva, Protalix shall request the license to utilize the Teva IP for the
sole purpose of the further development, manufacturing, commercialization, marketing
and sale of a Licensed Product, then Teva will enter into discussions with Protalix,
in good faith, with a view towards granting Protalix such license, but shall not be
bound to grant</TD>
</TR>



</TABLE>
</DIV>
<P align="center" style="font-size: 10pt"><!-- Folio --> - 32 - <!-- /Folio -->
</DIV>

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<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: Helvetica,Arial,sans-serif">


<DIV style="margin-top: 6pt"><TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">


<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="2%" nowrap align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>such license. Such license to the Teva IP shall be granted by Teva in
return for reasonable consideration by industry standards, as shall be discussed and
agreed in good faith between the Parties. For the avoidance of doubt, following
termination of this Agreement pursuant to Section&nbsp;15.4 due to a breach hereof by
Protalix, Teva shall <B>not </B>be required to enter into discussions with Protalix
regarding any request of Protalix to grant any license to the Teva IP.</TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="2%" nowrap align="left">15.8.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Upon termination hereof for any reason, each Party shall be entitled to
collect any debt then owed to it by the other Party.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="2%" nowrap align="left">15.9.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Save as explicitly stipulated otherwise in any Agreement, any provision, that
by its nature, is intended to survive termination, shall survive the termination or
expiration of this Agreement.</TD>
</TR>

</TABLE>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt">16. <U><B>Representations</B></U>
</DIV>


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="2%" nowrap align="left">16.1.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Each Party hereby represents to the other Party that:</TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="7%" style="background: transparent">&nbsp;</TD>
    <TD width="2%" nowrap align="left">16.1.1.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>it has the full power and authority to enter into this
Agreement and to perform its obligations hereunder, and that subject to
Section&nbsp;15.1 with respect to Teva, that all corporate approvals have been
obtained.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="7%" style="background: transparent">&nbsp;</TD>
    <TD width="2%" nowrap align="left">16.1.2.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>entering this Agreement shall not constitute a breach of any
agreement, contract, understanding and/or obligation, including such
Party&#146;s documents of incorporation, that it is currently bound by, and as
long as this Agreement is in effect and without derogating from the rights
to terminate the Agreement pursuant to Section&nbsp;15 above, such Party shall
not undertake any obligations which conflict with its obligations under
this Agreement.</TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="2%" nowrap align="left">16.2.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>In addition, Protalix hereby represents and warrants that:</TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="7%" style="background: transparent">&nbsp;</TD>
    <TD width="2%" nowrap align="left">16.2.1.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>it is the sole and exclusive owner of the existing Platform
Patents, and the existing Platform IP, and that all right, title and
interest therein and thereto vest in Protalix, and that no third party,
other than the CSO to the extent applicable, has any rights whatsoever
(including the right to receive royalties or any other compensation) in
respect of the existing Platform Patents, and the existing Platform IP;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="7%" style="background: transparent">&nbsp;</TD>
    <TD width="2%" nowrap align="left">16.2.2.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>No third party, has or shall have any rights whatsoever
(including the right to receive royalties or any other
compensation) in respect of any results of the Feasibility Program
and Stage 2 activities to be conducted by or for Protalix, except
as might be agreed pursuant to Section&nbsp;4.16;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="7%" style="background: transparent">&nbsp;</TD>
    <TD width="2%" nowrap align="left">16.2.3.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>To the best of its knowledge, the performance of Protalix&#146;s
obligations under this Agreement, and the exploitation of the Platform IP
do not infringe upon any third party intellectual property rights
currently existing;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="7%" style="background: transparent">&nbsp;</TD>
    <TD width="2%" nowrap align="left">16.2.4.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>it has the right and authority, as the proprietor of the
Platform IP, to grant the License;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="7%" style="background: transparent">&nbsp;</TD>
    <TD width="2%" nowrap align="left">16.2.5.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>it has no knowledge of any legal suit or proceeding by a
third party against Protalix contesting the ownership or validity of the
Licensed</TD>
</TR>


</TABLE>
</DIV>
<P align="center" style="font-size: 10pt"><!-- Folio --> - 33 - <!-- /Folio -->
</DIV>

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<DIV style="font-family: Helvetica,Arial,sans-serif">


<DIV style="margin-top: 6pt"><TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">


<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="7%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Information or any part thereof or contesting the possible
exploitation of the License granted hereunder (including as it relates to
the commercialization of the Licensed Products) as infringing upon any
third party intellectual property rights;</TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="7%" style="background: transparent">&nbsp;</TD>
    <TD width="2%" nowrap align="left">16.2.6.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>it shall not, during the term of this Agreement, perform any
work or other activities on or in respect of the Proteins, except in the
course of the collaboration hereunder;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="7%" style="background: transparent">&nbsp;</TD>
    <TD width="2%" nowrap align="left">16.2.7.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>it has the financial capacity to carry out all its
obligations hereunder, including, the performance of the Feasibility
Programs in accordance with the timelines set forth therein;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="7%" style="background: transparent">&nbsp;</TD>
    <TD width="2%" nowrap align="left">16.2.8.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>other than in respect of the Platform IP, it has not received
and hereby undertakes that it shall not receive any funding from the CSO
in respect of the Licensed Information, the Feasibility Programs or the
performance thereof, or the performance of any other of its obligations
under this Agreement; and in respect of the Platform IP, Protalix shall
bear any and all amounts due to the CSO;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="7%" style="background: transparent">&nbsp;</TD>
    <TD width="2%" nowrap align="left">16.2.9.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>it has the necessary experience and expertise to perform each
of the Feasibility Programs, and its share of the Development Plan during
Stage 2;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="7%" style="background: transparent">&nbsp;</TD>
    <TD width="2%" nowrap align="left">16.2.10.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Protalix does not have any Affiliates; and that</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="7%" style="background: transparent">&nbsp;</TD>
    <TD width="2%" nowrap align="left">16.2.11.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>in carrying out its undertakings and responsibilities
pursuant to this Agreement, Protalix shall comply with all applicable laws
and regulations, licenses, permits, approvals and procedures.</TD>
</TR>

</TABLE>
</DIV>

<DIV align="left" style="margin-left: 7%; text-indent: -5%; margin-right: 0%; font-size: 10pt; margin-top: 6pt">16.3. In addition, Teva hereby represents and warrants that in carrying out its
undertakings and responsibilities pursuant to this Agreement, Teva shall comply, and
shall require that its Affiliates, Sub-licensees and Further Sub-licensees comply,
with all applicable laws and regulations, licenses, permits, approvals and
procedures.</DIV>


<DIV align="left" style="margin-left: 7%; text-indent: -5%; margin-right: 0%; font-size: 10pt; margin-top: 6pt">16.4. Without derogating from any of the remedies available to either Party
hereunder or under applicable law, if either Party shall become aware of the
inaccuracy of any of the above representations, such Party shall immediately
notify the other Party of such in writing.</DIV>


<DIV align="left" style="margin-left: 7%; text-indent: -5%; margin-right: 0%; font-size: 10pt; margin-top: 6pt">16.5. Both Teva and Protalix represent that they shall perform their obligations
hereunder diligently, expeditiously and to the best of their abilities.</DIV>


<DIV align="left" style="margin-left: 7%; text-indent: -5%; margin-right: 0%; font-size: 10pt; margin-top: 6pt">16.6. Except as otherwise expressly provided in this Agreement, no Party makes any
warranty with respect to any technology, patents, goods, services, rights or other
subject matter of this Agreement and each Party hereby disclaims warranties of
merchantability, fitness for a particular purpose and non-infringement with respect
to any and all of the foregoing. Without derogating from the generality of the
foregoing, nothing contained in this Agreement is a warranty or representation by
Protalix or Teva that any efforts to be exerted by Protalix or Teva in connection
with this Agreement including without limitation any development activities to be
performed by it hereunder, or any part thereof, will actually achieve their aims or
succeed, and the Parties make no warranties whatsoever as to any results to be
achieved in consequence of the carrying out of any such efforts or activities; and
that any patents will be issued with respect to</DIV>


<P align="center" style="font-size: 10pt"><!-- Folio --> - 34 - <!-- /Folio -->
</DIV>

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<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: Helvetica,Arial,sans-serif">





<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 7%">the patent applications that are or
may constitute part of the list of Platform Patents, or that patents obtained on any
of the said patent applications are or will be valid or will afford proper
protection or that the Licensed Information will be commercially exploitable or of
any other value.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt">17. <U><B>Indemnification </B></U>
</DIV>


<DIV align="left" style="margin-left: 7%; text-indent: -5%; margin-right: 0%; font-size: 10pt; margin-top: 6pt">17.1. Teva shall indemnify, defend, and hold harmless each of Protalix and its
directors, officers, employees, and agents and its respective successors, heirs and
assigns (the &#147;<B>Protalix Indemnitees</B>&#148;), from and against any liability, damage, loss,
or expense (including reasonable attorney&#146;s fees and expenses of litigation)
incurred by or imposed upon any of Protalix Indemnitees in connection with any
claims, suits, actions, demands or judgments (&#147;<B>Claims</B>&#148;) arising pursuant to a breach
of a representation or warranty of Teva hereunder and/or concerning the use of any
Licensed Information by Teva, or any of its Affiliates or Sub-licensees or Further
Sub-licensees, or concerning any Licensed Product that is developed, tested, made,
used, or sold pursuant to any right or license granted by Protalix to Teva under
this Agreement (except in cases where, and to the extent that, such Claims are
finally proven to result from the gross negligence and/or willful misconduct on the
part of any of the Protalix Indemnitees and/ or any misrepresentation by Protalix
hereunder).</DIV>


<DIV align="left" style="margin-left: 7%; text-indent: -5%; margin-right: 0%; font-size: 10pt; margin-top: 6pt">17.2. Teva&#146;s undertakings under Section&nbsp;17.1 above shall be subject to: (a)&nbsp;receipt
of prompt written notice of any Claim by the Protalix Indemnitee (provided, however,
that the failure to give such notice shall not affect Teva&#146;s indemnification
undertakings provided hereunder except to the extent Teva shall have been actually
prejudiced as a result of such failure), (b)&nbsp;the cooperation of the Protalix
Indemnitee(s) regarding the response to and the defense of any such Claim, and (c)
Teva&#146;s right, by written notice to the Protalix Indemnitees, to assume the defense
of the Claim or represent the interests of the Protalix Indemnitees in respect of
such Claim, that shall include the right to select and direct legal counsel and
other consultants to
appear in proceedings on behalf of the Protalix Indemnitees and to propose,
accept or reject offers of settlement, all at its sole cost; <U>provided</U>
<U>however</U>, that no such settlement shall be made without the written
consent of the Protalix Indemnitees, such consent not to be unreasonably
withheld or delayed. Nothing herein shall prevent the Protalix Indemnitees from
retaining their own counsel and participating in their own defense at their own
cost and expense.</DIV>


<DIV align="left" style="margin-left: 7%; text-indent: -5%; margin-right: 0%; font-size: 10pt; margin-top: 6pt">17.3. Protalix shall indemnify, defend, and hold harmless each of Teva and its
directors, officers, employees, and agents and its respective successors, heirs and
assigns (the &#147;<B>Teva Indemnitees</B>&#148;), from and against any liability, damage, loss, or
expense (including reasonable attorney&#146;s fees and expenses of litigation) incurred
by or imposed upon any of Teva Indemnitees in connection with any claims, suits,
actions, demands or judgments (&#147;<B>Claims</B>&#148;) arising pursuant to a breach of a
representation or warranty of Protalix hereunder and/or concerning the research,
development or manufacturing activities of Protalix hereunder (except in cases
where, and to the extent that, such Claims are finally proven to</DIV>




<P align="center" style="font-size: 10pt"><!-- Folio --> - 35 - <!-- /Folio -->
</DIV>

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<DIV style="font-family: Helvetica,Arial,sans-serif">





<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 7%">result from the
gross negligence and/or willful misconduct on the part of any of the Teva
Indemnitees and/ or any misrepresentation by Teva hereunder).
</DIV>

<DIV align="left" style="margin-left: 7%; text-indent: -5%; margin-right: 0%; font-size: 10pt; margin-top: 6pt">17.4. Protalix&#146;s undertakings under Section&nbsp;17.3 above shall be subject to: (a)
receipt of prompt written notice of any Claim by the Teva Indemnitee (provided,
however, that the failure to give such notice shall not affect Protalix&#146;s
indemnification undertakings provided hereunder except to the extent Protalix shall
have been actually prejudiced as a result of such failure), (b)&nbsp;the cooperation of
the Teva Indemnitee(s) regarding the response to and the defense of any such Claim,
and (c)&nbsp;Protalix&#146;s right, by written notice to the Teva Indemnitees, to assume the
defense of the Claim or represent the interests of the Teva Indemnitees in respect
of such Claim, that shall include the right to select and direct legal counsel and
other consultants to appear in proceedings on behalf of the Teva Indemnitees and to
propose, accept or reject offers of settlement, all at its sole cost;
<U>provided</U> <U>however</U>, that no such settlement shall be made without the
written consent of the Teva Indemnitees, such consent not to be unreasonably
withheld or delayed. Nothing herein shall prevent the Teva Indemnitees from
retaining their own counsel and participating in their own defense at their own cost
and expense.</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 12pt">18. <U><B>Insurance</B></U>
</DIV>



<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">Each Party hereto shall maintain, for the term of this Agreement and thereafter,
insurance sufficient to cover its obligations under this Agreement and under law as it
customarily maintains for similar activities in the regular course of its business.
Protalix&#146;s insurance obligations with respect to the manufacturing of the API will be
included in the Supply Agreement. Teva may fulfill its obligation hereunder to obtain
insurance by the maintenance of appropriate self insurance regardless of the nature or
title thereof.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt">19. <U><B>Limitation of Liability </B></U>
</DIV>



<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">IN NO EVENT SHALL EITHER PARTY BE LIABLE TO THE OTHER OR ANY OF
ITS AFFILIATES FOR ANY CONSEQUENTIAL, INCIDENTAL, INDIRECT, SPECIAL, PUNITIVE OR EXEMPLARY
DAMAGES (INCLUDING, WITHOUT LIMITATION, LOST PROFITS, BUSINESS OR GOODWILL) SUFFERED OR
INCURRED BY SUCH OTHER PARTY OR ITS AFFILIATES, WHETHER BASED UPON A CLAIM OR ACTION OF
CONTRACT, WARRANTY, NEGLIGENCE OR TORT, OR OTHERWISE, ARISING OUT OF THIS AGREEMENT.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt">20. <U><B>Confidentiality </B></U>
</DIV>


<DIV align="left" style="margin-left: 7%; text-indent: -5%; margin-right: 0%; font-size: 10pt; margin-top: 6pt">20.1. Other than as expressly set forth herein, Teva and Protalix undertake to
treat and to maintain and to ensure that their Representatives (as defined below)
shall treat and maintain, in strict confidence and secrecy any information disclosed
by either Party under this Agreement, whether disclosed in oral or visual form or in
writing and shall keep in confidence the existence and contents of this Agreement
(the &#147;<B>Confidential Information</B>&#148;) and shall not disclose, publish, or disseminate in
any manner, any Confidential Information including, without limitation, any aspect
thereof which may have been disclosed prior to the signature hereof to a third party
other than those of its Representatives with a need to know same for the purpose of
performing its obligations under this Agreement (the &#147;<B>Purpose</B>&#148;).</DIV>


<P align="center" style="font-size: 10pt"><!-- Folio --> - 36 - <!-- /Folio -->
</DIV>

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<DIV style="font-family: Helvetica,Arial,sans-serif">





<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 7%">In addition, each
Party shall undertake to treat and maintain (and to ensure that its Representatives
treat and maintain) in strict confidence and secrecy and to prevent any unauthorized
use, disclosure, publication, or dissemination of the Confidential Information,
except for the Purpose. Each Party agrees to be responsible for any use or
disclosure of Confidential Information of any of its said Representatives.
</DIV>

<DIV align="left" style="margin-left: 7%; text-indent: -5%; margin-right: 0%; font-size: 10pt; margin-top: 6pt">20.2. Each Party shall:</DIV>


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="8%" style="background: transparent">&nbsp;</TD>
    <TD width="1%" nowrap align="left">20.2.1.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>safeguard and keep secret all Confidential Information, and
will not directly or indirectly disclose to any third party the
Confidential Information without written permission of the other.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="8%" style="background: transparent">&nbsp;</TD>
    <TD width="1%" nowrap align="left">20.2.2.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>in performing its duties and obligations hereunder, use at
least the same degree of care as it does with respect to its own
confidential information of like importance but, in any event, at least
reasonable care.</TD>
</TR>

</TABLE>
</DIV>

<DIV align="left" style="margin-left: 7%; text-indent: -5%; margin-right: 0%; font-size: 10pt; margin-top: 6pt">20.3. The undertakings and obligations under Sections&nbsp;20.1 and 20.2 above shall not
apply to any part of the Confidential Information which:</DIV>


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="8%" style="background: transparent">&nbsp;</TD>
    <TD width="2%" nowrap align="left">20.3.1.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>was known to the recipient of the Confidential Information
(&#147;<B>Recipient</B>&#148;) prior to disclosure by the disclosing Party (&#147;<B>Discloser</B>&#148;);</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="8%" style="background: transparent">&nbsp;</TD>
    <TD width="2%" nowrap align="left">20.3.2.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>was generally available to the public prior to disclosure to
the Recipient;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="8%" style="background: transparent">&nbsp;</TD>
    <TD width="2%" nowrap align="left">20.3.3.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>is disclosed to Recipient by a third party who is not bound
by any confidentiality obligation, having a legal right to make such
disclosure;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="8%" style="background: transparent">&nbsp;</TD>
    <TD width="2%" nowrap align="left">20.3.4.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>has become through no act or failure to act on the part of
the Recipient public information or generally available to the public;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="8%" style="background: transparent">&nbsp;</TD>
    <TD width="2%" nowrap align="left">20.3.5.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>was independently developed by Recipient without reference to
or reliance upon the Confidential Information;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="8%" style="background: transparent">&nbsp;</TD>
    <TD width="2%" nowrap align="left">20.3.6.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>is required to be disclosed by Recipient by law, by court
order, or governmental regulation (including securities laws and/or
exchange regulations), provided that the Recipient gives Discloser
reasonable notice prior to any such disclosure and cooperates (at
Discloser&#146;s expense) with Discloser to assist Discloser in obtaining a
protective order or other suitable protection from disclosure (if
available) with respect to such Confidential Information.</TD>
</TR>

</TABLE>
</DIV>

<DIV align="left" style="margin-left: 7%; text-indent: -5%; margin-right: 0%; font-size: 10pt; margin-top: 6pt">20.4. Teva and Protalix acknowledge that the respective Confidential Information is
of special and unique significance to each of them and that any unauthorized
disclosure or use of the Confidential Information could cause irreparable harm and
significant injury to the Discloser that may be difficult to ascertain. Accordingly,
any breach of this Agreement may entitle the aggrieved Party in addition to any
other right or remedy that it may have available to it by law or in equity, to
remedies of injunction, performance and other relief, including recourse in a court
of law.</DIV>


<DIV align="left" style="margin-left: 7%; text-indent: -5%; margin-right: 0%; font-size: 10pt; margin-top: 6pt">20.5. Each Party agrees to inform the other Party of any breach or threatened
breach of the provisions hereof by its Representatives.</DIV>


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<DIV style="font-family: Helvetica,Arial,sans-serif">




<DIV align="left" style="margin-left: 7%; text-indent: -5%; margin-right: 0%; font-size: 10pt; margin-top: 6pt">20.6. The provisions relating to confidentiality in this Section&nbsp;20 shall remain in
effect during the term of this Agreement and for a period of three (3)&nbsp;years after
its termination.</DIV>


<DIV align="left" style="margin-left: 7%; text-indent: -5%; margin-right: 0%; font-size: 10pt; margin-top: 6pt">20.7. &#147;<B>Representatives</B>&#148; shall mean employees, officers, agents, subcontractors,
consultants, and/or any other person or entity acting on either Party&#146;s behalf,
individually or collectively and which shall be exposed to Confidential Information.</DIV>


<DIV align="left" style="margin-left: 7%; text-indent: -5%; margin-right: 0%; font-size: 10pt; margin-top: 6pt">20.8. Notwithstanding the foregoing, each Party may disclose the terms of this
Agreement to the extent required, in the reasonable opinion of such Party&#146;s legal
counsel, to comply with applicable laws, as well as to Sub-licensees and prospective
and current investors, pursuant to appropriate non-disclosure arrangements, provided
however that prior to any disclosure, the disclosing Party shall consult with the
non-disclosing Party, and the non-disclosing Party shall have the right to delete
business sensitive issues.</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">21. <U><B>Publication</B></U>

</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">Neither Party shall issue any press release, make any public statement or advertise any
information pertaining to this Agreement, or to the collaboration hereunder, without the
prior written approval of the other, except as required by applicable
law.<br><br>Without
derogating from the foregoing, disclosure required under applicable law and regulations
shall not be subject to the written consent of the other Party, however the disclosing
party shall give the other sufficient notice, as far as practicable under law, of such
required disclosure as to enable the non-disclosing Party time to object to such
disclosure.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">22. <U><B>Independent Parties</B></U>

</DIV>

<DIV align="left" style="margin-left: 7%; text-indent: -5%; margin-right: 0%; font-size: 10pt; margin-top: 6pt">22.1. This Agreement shall not make either Party the agent or legal representative
of the other Party. Neither Party is granted any right or authority to assume or to
create any obligation or responsibility, expressed or implied, on behalf of or in
the name of the other Party, with regard to any manner or thing whatsoever, unless
otherwise specifically agreed upon in writing.</DIV>


<DIV align="left" style="margin-left: 7%; text-indent: -5%; margin-right: 0%; font-size: 10pt; margin-top: 6pt">22.2. Protalix hereby agrees that its employees, officers, agents, subcontractors,
consultants, and/or any other person or entity acting on Protalix behalf,
individually or collectively, shall be the sole responsibility of Protalix and shall
not be considered at any time as Teva employees and shall not have any claims
against Teva whatsoever.</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">23. <U><B>Miscellaneous</B></U>

</DIV>

<DIV align="left" style="margin-left: 7%; text-indent: -5%; margin-right: 0%; font-size: 10pt; margin-top: 6pt">23.1. The headings in this Agreement are intended solely for convenience or
reference and shall be given no effect in the interpretation of this Agreement.</DIV>


<DIV align="left" style="margin-left: 7%; text-indent: -5%; margin-right: 0%; font-size: 10pt; margin-top: 6pt">23.2. All amounts required to be paid pursuant to this Agreement are final and
inclusive of all taxes and/or duties, of whatsoever nature, except for VAT, which
are now or may hereafter be imposed with regard to this Agreement.</DIV>


<DIV align="left" style="margin-left: 7%; text-indent: -5%; margin-right: 0%; font-size: 10pt; margin-top: 6pt">23.3. All payments to be made hereunder shall be made by the due date for payment
as provided herein, in US Dollars or in New Israeli Shekels (&#147;<B>NIS</B>&#148;), as converted
from US Dollars as per the representative rate of the US Dollar against the NIS</DIV>




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</DIV>

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<DIV style="font-family: Helvetica,Arial,sans-serif">


<DIV align="left" style="margin-left: 12%; text-indent: -5%; margin-right: 0%; font-size: 10pt; margin-top: 6pt">&nbsp;last published by the Bank of Israel prior to the actual date of payment.</DIV>


<DIV align="left" style="margin-left: 7%; text-indent: -5%; margin-right: 0%; font-size: 10pt; margin-top: 6pt">23.4. If applicable laws require that taxes be withheld from any amounts due to
Protalix under this Agreement, Teva shall (a)&nbsp;deduct these taxes from the remittable
amount, (b)&nbsp;pay the taxes to the proper taxing authority, and (c)&nbsp;deliver to
Protalix a statement including the amount of tax withheld and justification
therefor, and such other information as may be necessary for tax credit purposes.</DIV>


<DIV align="left" style="margin-left: 7%; text-indent: -5%; margin-right: 0%; font-size: 10pt; margin-top: 6pt">23.5. Teva shall be entitled to set-off from any amounts due to Protalix hereunder,
any amounts not exceeding the amounts of any damage caused to Teva, including
without limitation, as a result of Protalix&#146;s breach hereunder.</DIV>


<DIV align="left" style="margin-left: 7%; text-indent: -5%; margin-right: 0%; font-size: 10pt; margin-top: 6pt">23.6. Teva shall be entitled to perform any and all of its obligations arising
under the terms of this Agreement and to exploit any and all of its rights arising
under the terms of this Agreement either directly or through its Affiliates,
provided that Teva remains liable to the performance of all of its obligations
hereunder.</DIV>


<DIV align="left" style="margin-left: 7%; text-indent: -5%; margin-right: 0%; font-size: 10pt; margin-top: 6pt">23.7. Without derogating from Teva&#146;s right to grant Sublicenses hereunder, neither
Party may assign its rights or its obligations hereunder, in whole or in part,
except with the prior written consent of the other Party. Notwithstanding the
foregoing, (i)&nbsp;provided that Teva remains liable to the performance of all of its
obligations hereunder, Teva may assign its rights and obligations hereunder to an
Affiliate thereof, and such assignment may be made by Teva, at Teva&#146;s sole
discretion, either in respect of the entire Agreement, or with respect to the rights
and obligations related to any part of this Agreement; and (ii)&nbsp;Protalix may assign
its rights and obligations hereunder to any party
acquiring all of the business to which this Agreement pertains, other than to a
Teva Competitor.</DIV>


<DIV align="left" style="margin-left: 7%; text-indent: -5%; margin-right: 0%; font-size: 10pt; margin-top: 6pt">23.8. Should any part or provision of this Agreement be held unenforceable or in
conflict with the applicable laws or regulations of any applicable jurisdiction, the
invalid or unenforceable part or provision shall, provided that it does not go the
essence of this Agreement, be replaced with a revision which accomplishes, to the
extent possible, the original commercial purpose of such part or provision in a
valid and enforceable manner, and the balance of this Agreement shall remain in full
force and effect and binding upon the Parties.</DIV>


<DIV align="left" style="margin-left: 7%; text-indent: -5%; margin-right: 0%; font-size: 10pt; margin-top: 6pt">23.9. This Agreement and the annexes attached hereto, constitute the entire
agreement between the Parties with respect to its subject matter and supersede all
prior agreements, arrangements, dealings or writings between the Parties, including
without limitation, the Outlines of Teva &#151; Protalix Co-Operation executed between
the Parties on March&nbsp;19, 2006. This Agreement may not be varied except in writing
signed by the Parties&#146; authorized representatives.</DIV>


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="2%" nowrap align="left">23.10.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Defined terms used in this Agreement and in the annexes shall have the meanings
ascribed thereto herein and therein. References to Section numbers in this Agreement
and in the annexes are to sections of this Agreement. References to Paragraphs in
the annexes are to paragraphs in the respective annex in which the reference is made
or in other annexes, if so specified.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="2%" nowrap align="left">23.11.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>No waiver of a breach or default hereunder shall be considered valid unless in
writing and signed by the Party giving such waiver and no such waiver shall be
deemed a waiver of any subsequent breach or default of the same or similar nature.</TD>
</TR>


</TABLE>
</DIV>
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</DIV>

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<DIV style="font-family: Helvetica,Arial,sans-serif">


<DIV style="margin-top: 6pt"><TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">


<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="2%" nowrap align="left">23.12.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>VAT will be added, where applicable, to all payments to be made hereunder and
shall be paid against proper invoices.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="2%" nowrap align="left">23.13.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Each Party agrees to execute, acknowledge and deliver such further documents and
instruments and do any other acts, from time to time, as may be reasonably
necessary, to effectuate the purposes of this Agreement.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="2%" nowrap align="left">23.14.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>None of the provisions of this Agreement shall be enforceable by, any person who
is not a party to this Agreement.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="2%" nowrap align="left">23.15.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>The remedies afforded to any of the Parties hereto, whether hereunder, or under
applicable law or otherwise, shall be cumulative in nature and not alternative.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="2%" nowrap align="left">23.16.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Any notice, declaration or other communication required or authorized to be given
by any Party under this Agreement to any other Party shall be in writing and shall
be personally delivered, sent by facsimile transmission (with a copy by ordinary
mail in either case) or dispatched by courier addressed to the other Party at the
address stated below or such other address as shall be specified by the Parties
hereto by notice in accordance with the provisions of this Section. Any notice shall
operate and be deemed to have been served, if personally delivered, sent by fax or
by courier on the next following day.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="2%" nowrap align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Teva&#146;s and Protalix&#146;s addresses for the purposes of this Agreement shall be as
follows</TD>
</TR>

</TABLE>
</DIV>
<DIV align="left" style="font-size: 10pt; margin-left: 9%; margin-top: 6pt"><B>If to Teva:</B>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-left: 9%; margin-top: 6pt">Teva Pharmaceutical Industries Ltd.<BR>
Attention: Dr.&nbsp;Ram Petter<BR>
5 Basel Street, Petah Tiqva 49131<BR>
Israel<BR>
Telephone: 972-3-9267683
</DIV>

<DIV align="left" style="font-size: 10pt; margin-left: 9%; margin-top: 0pt">Facsimile: 972-3-9267309
</DIV>

<DIV align="left" style="font-size: 10pt; margin-left: 9%; margin-top: 6pt">With a copy (that will not constitute notice) to:
</DIV>

<DIV align="left" style="font-size: 10pt; margin-left: 9%; margin-top: 6pt">Teva Pharmaceutical Industries Ltd.<BR>
Attention: General Counsel, Legal Department<BR>
5 Basel Street, Petah Tiqva 49131<BR>
Israel<BR>
Telephone: 972-3-926-7297<BR>
Facsimile: 972-3-926-7429
</DIV>

<DIV align="left" style="font-size: 10pt; margin-left: 9%; margin-top: 6pt"><B>If to Protalix Bio-Pharmaceuticals Ltd.</B>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-left: 9%; margin-top: 6pt">Protalix Bio-Pharmaceuticals Ltd.<BR>
2 Snunit St., Science Park, P.O. Box 455, Carmiel 20100<BR>
Israel<BR>
Attention: C.E.O.<BR>
Telephone: 972-4-9889488<BR>
Facsimile: 972-4-9889489
</DIV>



<P align="center" style="font-size: 10pt"><!-- Folio --> - 40 - <!-- /Folio -->
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: Helvetica,Arial,sans-serif">




<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="2%" nowrap align="left">23.17.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Any payment not received when due pursuant hereto shall bear interest from the due
date until the date of actual payment at the rate of [***] (or such other percentage, if lower, as shall not exceed the maximum rate permitted by
law).</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="2%" nowrap align="left">23.18.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>This Agreement shall be governed and interpreted according to the laws of the
State of Israel. Any dispute arising from this Agreement shall be resolved
exclusively by the competent Courts of Tel Aviv-Jaffa, Israel, and by no other court
or jurisdiction.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="2%" nowrap align="left">23.19.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>This Agreement may be executed in any number of counterparts (including
counterparts transmitted by fax), each of which shall be deemed to be an original,
but all of which taken together shall be deemed to constitute one and the same
instrument.</TD>
</TR>

</TABLE>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%"><B>IN WITNESS WHEREOF</B>, each Party has caused this Agreement to be executed by its duly
authorized representative:
</DIV>

<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="10%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="27%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="10%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="10%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="27%">&nbsp;</TD>
</TR>
<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD colspan="3" valign="top" align="center"><B>TEVA PHARMACEUTICAL INDUSTRIES LTD.</B><BR></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="3" valign="top" align="center"><B>Protalix Bio-Pharmaceuticals Ltd.</B><BR></TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px"><I>signature:</I>
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;<I>/s/ Amir Elstein</I>
</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top"><I>&nbsp;</I>
</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top"><I>signature:</I>
</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;<I>/s/ David Aviezer</I></TD>
</TR>
<TR style="font-size: 1px">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top" style="border-top: 1px solid #000000">&nbsp;
</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top" style="border-top: 1px solid #000000">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top">&nbsp;</TD>
    <TD valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px"><I>name:</I>
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Amir Elstein
</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top"><I>name:</I>
</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;David Aviezer</TD>
</TR>
<TR style="font-size: 1px">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top" style="border-top: 0px solid #000000">&nbsp;
</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top" style="border-top: 0px solid #000000">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top">&nbsp;</TD>
    <TD valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px"><I>designation:</I>
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;Group VP, Global Specialty Pharmaceutical
Products
</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top"><I>designation:</I>
</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; CEO</TD>
</TR>
<TR style="font-size: 1px">
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="1" valign="top" align="left" style="border-top: 0px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top" style="border-top: 1px solid #000000; border-top: 0px solid #000000">&nbsp;</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px"><I>signature:</I>
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;<I>/s/ Keren Siemon</I>
</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top"><I>signature:</I></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR style="font-size: 1px">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top" style="border-top: 1px solid #000000">&nbsp;
</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top" style="border-top: 1px solid #000000">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top">&nbsp;</TD>
    <TD valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px"><I>name:</I>
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Keren Siemon
</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top"><I>name:</I></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR style="font-size: 1px">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top" style="border-top: 0px solid #000000">&nbsp;
</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top" style="border-top: 1px solid #000000">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top">&nbsp;</TD>
    <TD valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px"><I>designation:</I>
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Sr. Director BD and Finance, Global
</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top"><I>designation:</I></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top" style="border-top: 0px solid #000000">Specialty</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top" style="border-top: 1px solid #000000">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Pharmaceutical Products</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left" valign="top">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>Date: 14 September 2006</B></TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left" valign="top">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>Date: 14 September 2006</B>
</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>

<DIV align="left">
<DIV style="font-size: 3pt; margin-top: 16pt; width: 18%; border-top: 0px solid #000000">&nbsp;</DIV>
</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">
<TR>
    <TD width="3%"></TD>
    <TD width="1%"></TD>
    <TD width="96"></TD>
</TR>

<TR valign="top">
    <TD nowrap align="left">&#091;***&#093;</TD>
    <TD>&nbsp;</TD>
    <TD>Portions of this exhibit were omitted and filed separately
with the Secretary of the Securities and Exchange Commission pursuant
to the Registrant&#146;s application requesting confidential
treatment under Rule&nbsp;24b-2 of the Exchange Act.</TD>
</TR>

</TABLE>


<P align="center" style="font-size: 10pt"><!-- Folio --> - 41 - <!-- /Folio -->
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: Helvetica,Arial,sans-serif">

<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><U><B>Annex 1.2.1</B></U>
</DIV>


<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>List of Additional Patents</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 12pt">&#091;***&#093;
</DIV>


<DIV align="left">
<DIV style="font-size: 3pt; margin-top: 16pt; width: 18%; border-top: 0px solid #000000">&nbsp;</DIV>
</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">
<TR>
    <TD width="3%"></TD>
    <TD width="1%"></TD>
    <TD width="96"></TD>
</TR>

<TR valign="top">
    <TD nowrap align="left">&#091;***&#093;</TD>
    <TD>&nbsp;</TD>
    <TD>Portions of this exhibit were omitted and filed separately
with the Secretary of the Securities and Exchange Commission pursuant
to the Registrant&#146;s application requesting confidential
treatment under Rule&nbsp;24b-2 of the Exchange Act.</TD>
</TR>

</TABLE>

<P align="center" style="font-size: 10pt"><!-- Folio --> - 42 - <!-- /Folio -->
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: Helvetica,Arial,sans-serif">




<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><U><B>Annex 1.2.42</B></U>
</DIV>


<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>Platform Patents</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 12pt">&#091;***&#093;
</DIV>


<DIV align="left">
<DIV style="font-size: 3pt; margin-top: 16pt; width: 18%; border-top: 0px solid #000000">&nbsp;</DIV>
</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">
<TR>
    <TD width="3%"></TD>
    <TD width="1%"></TD>
    <TD width="96"></TD>
</TR>

<TR valign="top">
    <TD nowrap align="left">&#091;***&#093;</TD>
    <TD>&nbsp;</TD>
    <TD>Portions of this exhibit were omitted and filed separately
with the Secretary of the Securities and Exchange Commission pursuant
to the Registrant&#146;s application requesting confidential
treatment under Rule&nbsp;24b-2 of the Exchange Act.</TD>
</TR>

</TABLE>

<P align="center" style="font-size: 10pt"><!-- Folio --> - 43 - <!-- /Folio -->
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: Helvetica,Arial,sans-serif">




<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>Annex 1.2.44</B>
</DIV>


<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>Proteins</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 12pt">&#091;***&#093;
</DIV>


<DIV align="left">
<DIV style="font-size: 3pt; margin-top: 16pt; width: 18%; border-top: 0px solid #000000">&nbsp;</DIV>
</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">
<TR>
    <TD width="3%"></TD>
    <TD width="1%"></TD>
    <TD width="96"></TD>
</TR>

<TR valign="top">
    <TD nowrap align="left">&#091;***&#093;</TD>
    <TD>&nbsp;</TD>
    <TD>Portions of this exhibit were omitted and filed separately
with the Secretary of the Securities and Exchange Commission pursuant
to the Registrant&#146;s application requesting confidential
treatment under Rule&nbsp;24b-2 of the Exchange Act.</TD>
</TR>

</TABLE>

<P align="center" style="font-size: 10pt"><!-- Folio --> - 44 - <!-- /Folio -->
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: Helvetica,Arial,sans-serif">




<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>Annex
3.1.1</B>
</DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 6pt"><B>Feasibility Program</B>
</DIV>


<P align="center" style="font-size: 10pt"><!-- Folio --> - 45 - <!-- /Folio -->
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: Helvetica,Arial,sans-serif">




<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>Annex 3.1.1A</B>
</DIV>


<DIV align="center" style="font-size: 10pt; margin-top: 18pt">Outline of the Feasibility Program
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 12pt">&#091;***&#093;
</DIV>


<DIV align="left">
<DIV style="font-size: 3pt; margin-top: 16pt; width: 18%; border-top: 0px solid #000000">&nbsp;</DIV>
</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">
<TR>
    <TD width="3%"></TD>
    <TD width="1%"></TD>
    <TD width="96"></TD>
</TR>

<TR valign="top">
    <TD nowrap align="left">&#091;***&#093;</TD>
    <TD>&nbsp;</TD>
    <TD>Portions of this exhibit were omitted and filed separately
with the Secretary of the Securities and Exchange Commission pursuant
to the Registrant&#146;s application requesting confidential
treatment under Rule&nbsp;24b-2 of the Exchange Act.</TD>
</TR>

</TABLE>

<P align="center" style="font-size: 10pt"><!-- Folio --> - 46 - <!-- /Folio -->
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: Helvetica,Arial,sans-serif">




<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><U><B>Annex 4.4</B></U>
</DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 6pt"><B>Outline of the activities of the Parties under the Development Plan</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 12pt">&#091;***&#093;
</DIV>

<DIV align="left">
<DIV style="font-size: 3pt; margin-top: 16pt; width: 18%; border-top: 0px solid #000000">&nbsp;</DIV>
</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">
<TR>
    <TD width="3%"></TD>
    <TD width="1%"></TD>
    <TD width="96"></TD>
</TR>

<TR valign="top">
    <TD nowrap align="left">&#091;***&#093;</TD>
    <TD>&nbsp;</TD>
    <TD>Portions of this exhibit were omitted and filed separately
with the Secretary of the Securities and Exchange Commission pursuant
to the Registrant&#146;s application requesting confidential
treatment under Rule&nbsp;24b-2 of the Exchange Act.</TD>
</TR>

</TABLE>

<P align="center" style="font-size: 10pt"><!-- Folio --> - 47 - <!-- /Folio -->
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: Helvetica,Arial,sans-serif">




<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><U><B>Annex 4.17</B></U>
</DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 6pt"><B>Key elements of the Supply Agreement</B>
</DIV>


<P align="center" style="font-size: 10pt"><!-- Folio --> - 48 - <!-- /Folio -->
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: Helvetica,Arial,sans-serif">




<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>Annex 8.2</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 12pt">&#091;***&#093;
</DIV>

<DIV align="left">
<DIV style="font-size: 3pt; margin-top: 16pt; width: 18%; border-top: 0px solid #000000">&nbsp;</DIV>
</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">
<TR>
    <TD width="3%"></TD>
    <TD width="1%"></TD>
    <TD width="96"></TD>
</TR>

<TR valign="top">
    <TD nowrap align="left">&#091;***&#093;</TD>
    <TD>&nbsp;</TD>
    <TD>Portions of this exhibit were omitted and filed separately
with the Secretary of the Securities and Exchange Commission pursuant
to the Registrant&#146;s application requesting confidential
treatment under Rule&nbsp;24b-2 of the Exchange Act.</TD>
</TR>

</TABLE>

<P align="center" style="font-size: 10pt"><!-- Folio --> - 49 - <!-- /Folio -->
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: Helvetica,Arial,sans-serif">




<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><U><B>Annex 12.1 </B></U>
</DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 6pt"><B>Current Countries</B>
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<DIV align="left" style="font-size: 10pt; margin-top: 12pt">&#091;***&#093;
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<DIV align="left" style="font-size: 10pt; margin-top: 6pt">* The list above is subject to further review by Teva
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<TR valign="top">
    <TD nowrap align="left">&#091;***&#093;</TD>
    <TD>&nbsp;</TD>
    <TD>Portions of this exhibit were omitted and filed separately
with the Secretary of the Securities and Exchange Commission pursuant
to the Registrant&#146;s application requesting confidential
treatment under Rule&nbsp;24b-2 of the Exchange Act.</TD>
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<P align="center" style="font-size: 10pt"><!-- Folio --> - 50 - <!-- /Folio -->
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<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><U><B>Annex 14A.4</B></U>
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<DIV align="center" style="font-size: 10pt; margin-top: 6pt"><B>Timeline and detailed Description of the GCD Services</B>
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<P align="center" style="font-size: 10pt"><!-- Folio --> - 51 - <!-- /Folio -->
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