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<SEC-DOCUMENT>0000950123-10-084127.txt : 20100907
<SEC-HEADER>0000950123-10-084127.hdr.sgml : 20100906
<ACCEPTANCE-DATETIME>20100907132748
ACCESSION NUMBER:		0000950123-10-084127
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		3
CONFORMED PERIOD OF REPORT:	20100829
ITEM INFORMATION:		Entry into a Material Definitive Agreement
ITEM INFORMATION:		Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers: Compensatory Arrangements of Certain Officers
ITEM INFORMATION:		Other Events
ITEM INFORMATION:		Financial Statements and Exhibits
FILED AS OF DATE:		20100907
DATE AS OF CHANGE:		20100907

FILER:

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

	FILING VALUES:
		FORM TYPE:		8-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-33357
		FILM NUMBER:		101059656

	BUSINESS ADDRESS:	
		STREET 1:		2 SNUNIT ST
		STREET 2:		SCIENCE PARK, POB 455
		CITY:			CARMIEL
		STATE:			L3
		ZIP:			20100
		BUSINESS PHONE:		972-4-988-9488

	MAIL ADDRESS:	
		STREET 1:		2 SNUNIT ST
		STREET 2:		SCIENCE PARK, POB 455
		CITY:			CARMIEL
		STATE:			L3
		ZIP:			20100

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

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	EMBASSY ACQUISITION CORP
		DATE OF NAME CHANGE:	19960124
</SEC-HEADER>
<DOCUMENT>
<TYPE>8-K
<SEQUENCE>1
<FILENAME>y03926e8vk.htm
<DESCRIPTION>FORM 8-K
<TEXT>
<HTML>
<HEAD>
<TITLE>e8vk</TITLE>
</HEAD>
<BODY bgcolor="#FFFFFF">
<!-- PAGEBREAK -->
<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<BR>
<DIV align="center"><DIV style="FONT-size: 3pt; margin-top: 16pt; width: 26%; border-top: 1px solid #000000">&nbsp;</DIV></DIV></B>
</DIV>

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

<DIV align="center" style="font-size: 18pt; margin-top: 12pt"><B><DIV align="center"><DIV style="FONT-size: 3pt; margin-top: 16pt; width: 26%; border-top: 1px solid #000000">&nbsp;</DIV></DIV></B>
</DIV>


<DIV align="center" style="font-size: 12pt; margin-top: 12pt"><B>CURRENT REPORT<BR>
Pursuant to Section&nbsp;13 or 15(d) of<BR>
the Securities Exchange Act of 1934</B>
</DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 12pt"><B>Date of Report (Date of Earliest Event Reported): September&nbsp;7, 2010 (August&nbsp;29, 2010)</B></DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 12pt"><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: 24pt; margin-top: 12pt"><B>Protalix BioTherapeutics, Inc.</B>
</DIV>

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


<DIV align="center" style="font-size: 10pt"><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">
<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>
<TR></TR>
<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD align="center" valign="top"><B>Florida<BR>
(State or other jurisdiction <BR>
of incorporation)</B>
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top"><B>001-33357<BR>
(Commission File Number)</B>
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top"><B>65-0643773<BR>
(IRS Employer<BR>
Identification No.)</B></TD>
</TR>
<!-- End Table Body -->
</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="47%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="47%">&nbsp;</TD>
</TR>
<TR></TR>
<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD align="center" valign="top"><B>2 Snunit Street <BR>
Science Park, POB 455<BR>
Carmiel, Israel<BR>
(Address of principal executive offices)</B>
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="bottom"> <B>20100<BR>
(Zip Code)</B></TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>

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

<DIV align="center" style="font-size: 10pt; margin-top: 12pt"><B>(Former name or former address, if changed since last report.)</B></DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 12pt"><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: 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="font-size: 10pt; margin-top: 6pt"><FONT style="font-family: Wingdings">&#111;</FONT>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Written communications pursuant to Rule&nbsp;425 under the Securities Act (17 CFR 230.425)
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><FONT style="font-family: Wingdings">&#111;</FONT>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Soliciting material pursuant to Rule&nbsp;14a-12 under the Exchange Act (17 CFR 240.14a-12)
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><FONT style="font-family: Wingdings">&#111;</FONT>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pre-commencement communications pursuant to Rule&nbsp;14d-2(b)
under the Exchange Act (17 CFR 240.14d-2(b))
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><FONT style="font-family: Wingdings">&#111;</FONT>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pre-commencement communications pursuant to Rule&nbsp;13e-4(c)
under the Exchange Act (17 CFR 240.13e-4(c))
</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>Item&nbsp;1.01. Entry into a Material Definitive Agreement</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;On August&nbsp;29, 2010, Protalix Ltd. (&#147;Protalix&#148;), a wholly-owned subsidiary of Protalix
BioTherapeutics, Inc. (the &#147;Company&#148;), entered into an employment agreement with Tzvi Palash (the
&#147;Employment Agreement&#148;), pursuant to which Mr.&nbsp;Palash will serve as the Company&#146;s Chief Operating
Officer. A description of the Employment Agreement is contained in Item&nbsp;5.02 below, which is
incorporated by reference into this Item&nbsp;1.01.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>Item&nbsp;5.02. Departure of Directors or Certain Officers; Election of Directors; Appointment of
Certain Officers; Compensatory Arrangements of Certain Officers</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Protalix appointed Mr.&nbsp;Palash as its Chief Operating Officer, effective September&nbsp;6, 2010.
Pursuant to the Employment Agreement, Mr.&nbsp;Palash&#146;s current monthly base salary is NIS 69,000
(approximately $18,000) and he is entitled to an annual discretionary bonus for performance subject
to the sole discretion of the Company&#146;s compensation committee. The monthly salary is subject to
cost of living adjustments from time to time as may be required by law. The Board of Directors
also approved a grant of options to purchase 160,000 shares of the Company&#146;s common stock at an
exercise price equal to $7.55 per share. The first 25% of such options shall vest on the first
anniversary of the grant date and the remainder shall vest quarterly in 12 equal increments. The
Employment Agreement is terminable by either party on 60&nbsp;days&#146; written notice for any reason and we
may terminate the agreement for cause without notice. Mr.&nbsp;Palash is entitled to be insured by
Protalix under a Manager&#146;s Policy in lieu of severance, company contributions towards vocational
studies, annual recreational allowances, a company car, a company phone, a company laptop and
lodging accommodations in the Carmiel area. Mr.&nbsp;Palash is entitled to 24 working days of vacation.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Prior to joining Protalix, Mr.&nbsp;Palash, 54, from 2006 through 2010, served as a General Manager
of ColBar LifeScience Ltd., a biotechnology company specializing in reconstructive medicine and
tissue engineering that was acquired by a division of Johnson &#038; Johnson in 2006. In that position,
Mr.&nbsp;Palash served as a member of the Global Aesthetic Management Team at the Consumer Group of
Johnson &#038; Johnson. Prior to that, from 2001 through 2006, Mr.&nbsp;Palash served as the Vice President,
Operations of ColBar LifeScience. Mr.&nbsp;Palash holds an M.Sc. in Biochemistry from the Hebrew
University, Jerusalem, Israel, and a B.Sc. in Biology from the Tel Aviv University, Israel.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>Item&nbsp;8.01. Other Events</B>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">On September&nbsp;7, 2010, the Company issued a press release announcing the hiring of Mr.&nbsp;Palash. A
copy of the press release is attached hereto as Exhibit&nbsp;99.1.
</DIV>


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


<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><B>(d)&nbsp;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="3%" nowrap align="left">10.1</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Employment Agreement by and between Protalix Ltd., and Tzvi Palash dated as of August&nbsp;29,
2010.</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">99.1</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Press release dated September&nbsp;7, 2010.</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="left" style="font-size: 10pt; margin-top: 12pt">SIGNATURES
</DIV>

<DIV align="left" style="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 7, 2010&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<BR>
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-10.1
<SEQUENCE>2
<FILENAME>y03926exv10w1.htm
<DESCRIPTION>EX-10.1
<TEXT>
<HTML>
<HEAD>
<TITLE>exv10w1</TITLE>
</HEAD>
<BODY bgcolor="#FFFFFF">
<!-- PAGEBREAK -->
<DIV style="font-family: 'Times New Roman',Times,serif">


<DIV align="right" style="font-size: 10pt; margin-top: 18pt">Exhibit
10.1
</DIV>

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

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">This EMPLOYMENT AGREEMENT (this &#147;<B>Agreement</B>&#148;) is made as of August&nbsp;29, 2010, by and between Protalix
Ltd., a company organized under the laws of the State of Israel (the &#147;<B>Company</B>&#148;) and Mr.&nbsp;Tzvi
Palash, Israel Identification No.&nbsp;54319249 (the &#147;<B>Employee</B>&#148;) (each of the Company and Employee shall
be referred to herein, as a &#147;<B>Party</B>&#148; and collectively, the &#147;<B>Parties</B>&#148;).
</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><B>WHEREAS</B>, the Company is engaged, inter alia, in the research and
development of proteins and expression thereof in plant cells
cultures; 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">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD><B>WHEREAS</B>, the Company desires to employ the Employee in the position of
Company&#146;s Chief Operating Officer (&#147;<B>COO</B>&#148;) and the Employee
desires to be employed by the Company in such position, on the
terms and conditions hereinafter set forth;</TD>
</TR>

</TABLE>
</DIV>
<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><B>NOW, THEREFORE</B>, based on the representations contained herein and in consideration of the mutual
promises and covenants set forth herein, 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>Employment</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="3%" nowrap align="left">1.1.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Commencing as of the Effective Date, the Company shall employ the Employee in
the position of COO, reporting to the Chief Executive Officer of the Company (&#147;<B>CEO</B>&#148;).
The Employee will serve as part of the executive management team of the Company.</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">1.2.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>The Employee&#146;s duties and responsibilities shall be those duties and
responsibilities customarily performed by a COO of a company, as may be determined
from time to time by the CEO. These will include, inter alia, 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="6%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Supervision over manufacturing;</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>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Set up, construction and operation of new and current facilities and
improvement of current facilities;</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>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Supervision over Engineering and maintenance;</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>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Supervision over Information Technology and administration housekeeping;</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>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>The VP QA will have a dotted line relationship with the COO and
will report directly to CEO 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"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Implementing GMP in manufacturing to ensure regulatory compliance.</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">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>The Employee shall be employed on a full-time basis. The Employee shall devote his
full and undivided attention and full working time to the business and affairs of
the Company and the fulfillment of his duties and responsibilities 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">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>During the term of this Agreement the Employee shall not be engaged in any other
employment nor engage in any other business activity or render any services, with
or without compensation, for any other person or entity. Notwithstanding, subject
to the prior written approval</TD>
</TR>

</TABLE>
</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="center" style="font-size: 10pt; margin-top: 18pt">2
</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: #textcolor#; background: #bgcolor#">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>of the CEO, the Employee may render consulting services (the &#147;<B>Consulting
Services</B>&#148;), with or without compensation, for any other person or entity,
<U>provided however,</U> that: (i)&nbsp;the time expended in connection with the
Consulting Services is limited; (ii)&nbsp;the person or entity receiving such
Consulting Services does not directly or indirectly compete with the business of
the Company, as conducted or proposed to be conducted; (iii)&nbsp;there is no conflict
of interests between the performance of the Consulting Services and the services
performed pursuant to this Agreement; and (iv)&nbsp;that such engagement does not
interfere or otherwise affect the performance of services pursuant to this
Agreement.</TD>
</TR>
<tr><td>&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>The Employee shall notify the Company immediately of any event or circumstance
which may hinder the performance of his obligations hereunder or result in the
Employee having a conflict of interest with his position with the Company. In
addition, if such conflict or interference arises in connection with the
Consulting Services, then the Employee undertakes to immediately terminate such
Consulting Services.</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">1.3.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>The Employee acknowledges that the Company&#146;s facilities are located in
Carmiel and that he will be required to attend such facilities. Employee further
acknowledges and agrees that the performance of his duties hereunder may require
significant domestic and international travel at the Company&#146;s request. International
travel shall be made in accordance with Company&#146;s policy.</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">1.4.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>It is agreed between the Parties that the position that Employee holds within
the Company is a management position, which demands a special level of loyalty and
accordingly the Work Hours and Rest Law (1951)&nbsp;shall not apply to Employee&#146;s
employment by the Company and this Agreement. The Employee further acknowledges and
agrees that his duties and responsibilities may entail irregular work hours, for which
he is adequately rewarded by the compensations provided for in this Agreement. The
Parties confirm that this is a personal services contract and that the relationship
between the Parties shall not be subject to any general or special collective
bargaining agreement or any custom or practice of the Company in respect of any of its
other employees or 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="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">1.5.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Without derogating from anything in this Agreement, the Employee further
acknowledges that he has been provided with a copy of the policies adopted by the
Parent Company titled: &#147;Code of Business Conduct and Ethics&#148;, &#147;Insider Trading Policy&#148;
and &#147;Pre-clearance and Blackout Policy&#148;, and undertakes to comply and perform his
duties and obligations hereunder in accordance with the provision of such policies.</TD>
</TR>


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

<DIV align="center" style="font-size: 10pt; margin-top: 18pt">3
</DIV>

<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">1.6.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>The Employee agrees that the execution and delivery by the Employee of this
Agreement and the fulfillment of the terms hereof (i)&nbsp;does not conflict with any
agreement or undertaking by which the Employee is bound, including an undertaking to
any former employer; and (ii)&nbsp;do not require the consent of any person or entity. The
Employee further represents and warrants to the Company that in the course of his
employment hereunder he will not make use of (i)&nbsp;any confidential or proprietary
information belonging to any third party, or (ii)&nbsp;any information to which the
Employee is restricted from disclosing or using due to contractual undertakings (such
as Non Disclosure Agreements) or by law, in the provision of the services 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">2.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD><U><B>Salary and Employee Benefits</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>In full consideration of Employee&#146;s employment with the Company, commencing as of the
Effective Date, the Employee shall be entitled to the following payments and benefits, it
being understood and agreed that any Salary-based benefits shall be calculated exclusively
on the basis of the base Salary (without consideration to any other benefit). All and any
payment and benefit herein have received the required approval by the Company, including
but not limited to the approval by the compensation committee of Protalix BioTherapeutics
Inc., the parent company of the Company (the &#147;<B>Parent Company</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">2.1.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD><U>Salary</U>. The Company shall pay the Employee a gross salary of NIS
69,000 per month (the &#147;<B>Salary</B>&#148;). The Salary will be adjusted from time to time in
accordance with the Cost of Living Index (&#147;Tosefet Yoker&#148;) as may be required by law.
The Salary shall be payable monthly in arrears, and shall be paid to the Employee not
later than the 10th of each month. The Salary payable hereunder will be reviewed
annually by the compensation committee of the Parent Company during the term of this
Agreement. Notwithstanding, such review shall initially take place at the end of 2011.</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">2.2.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD><U>Annual Bonus</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="6%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>At the end of each year the Employee may be entitled to an annual bonus for his
achievements and performance during the respective year. The grant of the bonus
and the bonus amount shall be at the sole discretion of the Parent Company&#146;s
compensation committee and the recommendation of the CEO, however, no assurance is
made that any bonus shall be granted. It is customary that the Company grants
executive employees a bonus in an amount of a multiple of the respective monthly
salary payment. The exact bonus amount in each year shall be determined by the
Company based on: (i)&nbsp;the Employee&#146;s contribution, measured according to
Employee&#146;s performance, dedication, efforts and time spent; and (ii)&nbsp;the financial
resources of the Company at such time.</TD>
</TR>




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

<DIV align="center" style="font-size: 10pt; margin-top: 18pt">4
</DIV>

<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">2.3.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD><U>Option</U>. Employee shall be entitled to an option (the &#147;<B>Option</B>&#148;) to
purchase 160,000 shares of common stock, par value US$0.001 per share of the Parent
Company (&#147;<B>Shares</B>&#148;). The grant of the Option is subject to the approval and the sole
and absolute discretion of the Parent Company&#146;s Compensation Committee or its Board of
Directors (the &#147;<B>Administrator</B>&#148;). The Option shall be granted under the Parent
Company&#146;s 2006 Stock Option Plan (the &#147;<B>Plan</B>&#148;), and shall be further subject to the
following additional 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="6%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">2.3.1.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>vesting over a period of four (4)&nbsp;years as follows: one fourth of the
Option shall vest upon the lapse of one year from the date of grant of the
Option (the &#147;<B>Initial Vesting Date</B>&#148;). The remainder of the Option shall vest
on a quarterly basis in twelve equal installments, commencing on the Initial
Vesting 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="6%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">2.3.2.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>a purchase price per Share to be determined by the Administrator (based on
market value at the execution date of this Agreement); 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">2.3.3.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>the execution of the standard option agreement under the 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="6%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">2.3.4.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>The Option shall be granted to Employee pursuant to Section&nbsp;102 of the Tax
Ordinance and the rules, regulations, orders and procedures promulgated
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%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>It is the parties&#146; intention that following an increase of the number of shares
reserved for allocation under the Plan or any new similar plan, the Administrator
shall review the Employee&#146;s request to be granted additional options. Nothing
contained herein shall be deemed an undertaking that the number of shares reserved
under the Plan shall be increased or that any further grant to the Employee shall
take 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="3%" nowrap align="left">2.4.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD><U>Manager&#146;s Insurance</U>. The Company shall insure the Employee under a
Manager&#146;s Insurance Policy, including insurance in the event of illness or loss of
capacity for work (the &#147;<B>Policy</B>&#148;), in accordance with the following terms or as
otherwise agreed by the Parties. The Company shall pay a sum of up to an aggregate of
15.83% of the Salary towards the Policy, of which (i)&nbsp;8.33% shall be on account of
severance compensation, which shall be payable to the Employee upon severance, in
accordance with the provisions of this Agreement; (ii)&nbsp;5% of the Salary on account of
pension fund payments; and (iii)&nbsp;up to 2.5% of the Salary on account of disability
pension payments. The Company shall deduct 5% from the Salary to be paid on behalf of
the Employee towards the Policy. The Employee may extend an existing policy or plan
and incorporate it into the Policy, at his discretion or as otherwise agreed 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="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>The Company and the Employee agree and acknowledge that in the event the Company
transfers ownership of the Policy or the right to receive such policy to the
Employee, then such transfer shall be credited against any obligation that the
Company may have to pay severance pay to the Employee pursuant to the Severance
Pay Law &#151; 1963 (the &#147;<B>Severance Pay Law</B>&#148;). Employee agrees that the payments</TD>
</TR>

</TABLE>
</DIV>
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</DIV>

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

<DIV align="center" style="font-size: 10pt; margin-top: 18pt">5
</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: #textcolor#; background: #bgcolor#">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>by the Company to the Policy in accordance with the terms hereof, shall be instead
of any statutory obligation of the Company to pay severance pay to the Employee,
and not in addition thereto, all in accordance with Section&nbsp;14 of the Severance
Pay Law. The Parties hereby adopt the General Approval of the Minister of Labor
and Welfare, <I>on Employers&#146; Payments to Pension Funds and Insurance Policies
Instead of Severance Pay According to Section&nbsp;14 of the Severance Pay Law</I>,
attached hereto as <U><B>Exhibit&nbsp;A</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="3%" nowrap align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>The Company hereby waives its right to a refund of payments it made to the Policy,
except: (i)&nbsp;in the event that Employee&#146;s right to severance pay was denied by a
final judgment pursuant to Section&nbsp;16 or 17 of the Severance Pay Law (in which
case Company shall only be entitled to a refund of such funds to the extent that
severance pay was denied); or (ii)&nbsp;in the event that the Employee withdrew monies
from the Policy (other than by reason of an &#147;Entitling Event&#148;, i.e. death,
disability or retirement at or after the age of sixty (60)).</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><U>Vocational Studies</U>. The Company shall open and maintain a &#147;Keren
Hishtalmut&#148; Fund for the benefit of the Employee (the &#147;<B>Fund</B>&#148;). The Company shall
contribute to such Fund an amount equal to 7-1/2% of the Salary and the Employee shall
contribute to the Fund an amount equal to 2-1/2% of the Salary. The Employee hereby
instructs the Company to transfer to the Fund Employee&#146;s contribution from the Salary.
Upon termination of this Agreement by either Party, other than termination by the
Company for Cause, the Company shall assign and transfer to the Employee the ownership
in the Fund.</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><U>Vacation</U>. The Employee shall be entitled to annual paid vacation of
24 working days. Subject to applicable law, up to two (2)&nbsp;years&#146; equivalent of
vacation days may be accumulated and may, at the Employee&#146;s option, upon thirty (30)
days&#146; prior written notice to the Company, be converted into cash payments in an
amount equal to the proportionate part of the Salary for such days.</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>Employee shall coordinate in advance with the CEO the dates of the vacation
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">2.7.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD><U>Sick Leave</U>. The Employee shall be entitled to fully paid sick leave
pursuant to the Sick Pay Law (1976).</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">2.8.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD><U>Annual Recreation Allowance (Dme&#146;i Havra&#146;a)</U>. The Employee shall be
entitled to annual recreation allowance according to applicable 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="3%" nowrap align="left">2.9.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD><U>Company Car</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%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">2.9.1.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>The Company shall provide the Employee with a Company car (the &#147;<B>Company
Car</B>&#148;), as determined by the CEO, at his discretion, which car shall be
categorized &#147;Group 4&#148;. The Company Car shall be placed with the Employee for
his business and personal use. Employee shall take good care of the Company
Car and ensure that the provisions of the insurance policy and the Company&#146;s
rules relating to the Company Car are strictly, lawfully and carefully
observed.</TD>
</TR>




</TABLE>
</DIV>
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</DIV>

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


<DIV align="center" style="font-size: 10pt; margin-top: 18pt">6
</DIV>

<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">2.9.2.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Subject to applicable law, the Company shall bear all fixed and ongoing
expenses relating to the Company Car and to the use and maintenance thereof,
excluding expenses incurred in connection with any violations of law, which
shall be paid solely by Employee. Employee shall bear any and all taxes
applicable in connection with said Company Car and the use thereof, in
accordance with applicable income tax regulations. Without derogating from
the above, all such expenses borne by the Company pursuant to this Section
2.9.2 are included in the Salary.</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">2.9.3.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Upon the termination of employment hereunder, the Employee shall return the
Company Car (together with its keys and any other equipment supplied and/or
installed therein by Company and any documents relating to the Company Car)
to the Company&#146;s principal office. Employee shall have no rights of lien with
respect to the Company Car and/or any of said equipment and documents.</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">2.10.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD><U>Telephone.</U> The Company shall furnish, for the use of the Employee, a
cellular telephone (the &#147;<B>Company Phone</B>&#148;), and shall bear all the costs and expenses
associated with the use of the Company Phone up to NIS 5,000 per month. The Company
will bear the tax applicable to the use of the Company Phone by the Employee,
according to applicable law. Without derogating from the above, all such costs,
expenses and tax payments borne and payable by the Company pursuant to this Section
2.10 are included in the Salary. The provisions of Section&nbsp;2.9.3 above shall apply to
the Company Phone, <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="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">2.11.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD><U>Laptop</U>. The Company shall furnish, for the use of the Employee, a
Company&#146;s laptop (the &#147;<B>Company Laptop</B>&#148;). The Company will bear the tax applicable to
the use of the Company Laptop by the Employee, according to applicable law, if any.
Without derogating from the above, all such costs, expenses and tax payments borne and
payable by the Company pursuant to this Section&nbsp;2.11 are included in the Salary. The
provisions of Section&nbsp;2.9.3 above shall apply to the Company Laptop, <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="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">2.12.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD><U>Lodging</U>. The Company shall bear Employee&#146;s lodging accommodation
expenses in the Carmiel area, in accordance with Company&#146;s policy.</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">2.13.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD><U>Certain Reimbursements</U>. Unless stated otherwise, the Employee shall
be entitled to full reimbursement from the Company for reasonable expenses incurred
during the performance of his duties hereunder up to a limit of NIS 1,500 per month,
upon submission of substantiating documents, according to the Company&#146;s policy. The
reimbursement of any expenses in excess of the foregoing limit shall require the prior
approval of the CEO.</TD>
</TR>




</TABLE>
</DIV>
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</DIV>

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

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


<DIV align="center" style="font-size: 10pt; margin-top: 18pt">7
</DIV>

<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">2.14.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD><U>Taxes</U>. The Employee will bear any tax applicable on the payment or
grant of any of the above Salary and/or benefits, according to the then applicable
law. The Company shall be entitled to and shall deduct and withhold from any amount or
benefit payable to the Employee, any and all taxes, withholdings or other payments as
required under any applicable law.</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><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="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">3.1.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>The Employee hereby agrees that he shall not, directly or indirectly,
disclose or use at any time any trade secrets or other confidential information of any
type or nature, whether patentable or not, of the Company, its subsidiaries,
affiliates or parent company now or hereafter existing, including but not limited to,
any (i)&nbsp;processes, formulas, trade secrets, copyrights, innovations, inventions,
discoveries, improvements, research or development and test results, specifications,
data, patents, patent applications and know-how of any type or nature; (ii)&nbsp;marketing
plans, business plans, strategies, forecasts, financial information, budgets,
projections, product plans and pricing; (iii)&nbsp;personnel information, salary, and
qualifications of employees; (iv)&nbsp;agreements, customer and supplier information,
including identities and product sales forecasts; and (v)&nbsp;any other information of a
confidential or proprietary nature (collectively, &#147;<B>Confidential Information</B>&#148;), of
which the Employee is or becomes informed or aware during the employment, whether or
not developed by the Employee, it being agreed that for purposes of this Section&nbsp;3.1,
the term Confidential Information shall not include information that has entered into
the public domain through no wrongful act by Employee. Upon termination of this
Agreement, or at any other time upon request of the Company, the Employee shall
promptly deliver to the Company all physical and electronic copies and other
embodiments of Confidential Information and all memoranda, notes, notebooks, records,
reports, manuals, drawings, blueprints and any other documents or things belonging to
the Company, and all copies thereof, in all cases, which are in the possession or
under the control of the Employee.</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>Employee hereby acknowledges and that all Confidential Information and any
other rights in connection therewith are and shall at all times remain the sole
property of 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="1%" nowrap align="left">4.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD><U><B>Non-Competition and Non-Solicitation</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="3%" nowrap align="left">4.1.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>The Employee agrees and undertakes that he will not, for so long as this
Agreement is in effect and for a period of one (1)&nbsp;year thereafter (the
&#147;<B>Non-Competition Period</B>&#148;), directly compete or to assist others to directly compete
with the business of the Company, as currently conducted and as conducted and/or
proposed to be conducted during the Non-Competition Period.</TD>
</TR>




</TABLE>
</DIV>
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</DIV>

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


<DIV align="center" style="font-size: 10pt; margin-top: 18pt">8
</DIV>

<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">4.2.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>The Employee further agrees and undertakes that during the Non-Competition
Period, he will not directly solicit any business which is similar to the Company&#146;s
business from individuals or entities that are customers, suppliers or contractors of
the Company, any of its subsidiaries, affiliates or parent company during the
Non-Competition Period, without the prior written consent of the CEO.</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">4.3.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>The Employee further agrees and undertakes that during the Non-Competition
Period, without the prior written consent of the CEO, he will not employ, offer to
employ, or in any way directly or indirectly solicit or seek to obtain or achieve the
employment by any business or entity of any person employed by either the Company, its
subsidiaries, affiliates, parent company or any successors or assigns thereof during
the Non-Competition 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="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">4.4.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>The Parties hereto agree that the duration and area for which the covenants
set forth in this Section&nbsp;4 are to be effective are necessary to protect the
legitimate interests of the Company and its development efforts and accordingly are
reasonable, in terms of their geographical and temporal scope. In the event that any
court determines that the time period and/or area are unreasonable and that such
covenants are to that extent unenforceable, the Parties hereto agree that such
covenants shall remain in full force and effect for the greatest period of time and in
the greatest geographical area that would not render them unenforceable. A breach of
Sections&nbsp;3, 4 or 5 hereof, shall cause irreparable harm to the Company, its
subsidiaries, affiliates and/or parent company and that the Company shall be entitled
to any remedy available to it under applicable law, including specific performance of
this Agreement or an injunction relief, together with the costs and reasonable
attorney&#146;s fees and disbursements incurred by the Company in enforcing its rights
under Sections&nbsp;3, 4 or 5. The Employee acknowledges that the compensation and benefits
he receives hereunder are paid, inter alia, as consideration for his undertakings
contained in Sections&nbsp;3, 4 and 5.</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">5.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD><U><B>Creations and Inventions </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="3%" nowrap align="left">5.1.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>The Company shall be the sole and exclusive owner of any Inventions (as
defined below), and Employee hereby assigns to the Company any and all of his rights,
title and interest in such intellectual property free and clear of any third parties
rights. The Employee shall inform the Company of any Invention relating to the
Company&#146;s technology, its applications components or any intellectual property
relating thereto, and shall execute any necessary assignments, patent forms and the
like and will assist in the drafting of any description or specification of the
Invention as may be required for the Company&#146;s records and in connection with any
application for patents or other forms of legal protection that may be sought by the
Company. The Employee shall treat all information relating to any Invention as
Confidential Information according to Section&nbsp;3 above.</TD>
</TR>




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

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


<DIV align="center" style="font-size: 10pt; margin-top: 18pt">9
</DIV>

<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">5.2.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Without limiting the foregoing, &#147;<B>Inventions</B>&#148; shall include any and all
intellectual property, including without limitation, ideas, inventions, processes,
formulas, source and object codes, data, programs, know how, improvements,
discoveries, designs, techniques, trade secrets, patents and patents applications,
copyrights, mask work and any other intellectual property rights throughout the world,
generated, produced, reduced to practice, or developed by Employee during or in
connection with his employment by the Company.</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">5.3.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>The Company&#146;s rights under this Section&nbsp;5 shall be worldwide, and shall apply
to any such Invention notwithstanding that it is perfected or reduced to specific form
after the Employee has ceased his services 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">6.</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="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">6.1.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>This Agreement shall be in effect commencing as of August&nbsp;22, 2010 (the
&#147;<B>Effective Date</B>&#148;) and shall continue in full force and effect for an undefined period,
unless and until terminated by either Party by sixty (60)&nbsp;days prior written notice to
the other Party. Such prior notice periods shall be referred to as the &#147;<B>Notice
Period</B>&#148;, as applicable.</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">6.2.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Notwithstanding anything to the contrary herein, and subject to any
applicable law, the Company may terminate this Agreement in the event of the inability
of the Employee to perform his duties hereunder, whether by reason of injury (mental
or physical), illness or otherwise, incapacitating the Employee for a period exceeding
90&nbsp;days.</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">6.3.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Notwithstanding anything to the contrary herein, the Company may terminate
this Agreement at any time, effective immediately and without need for prior written
notice, and without derogating from any other remedy to which the Company may be
entitled, for Cause.</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>For the purposes of this Agreement, the term &#147;<B>Cause</B>&#148; shall mean: (i)&nbsp;a material
breach by Employee of this Agreement; (ii)&nbsp;any breach by Employee of his fiduciary
duties or duties of care to the Company; (iii)&nbsp;Employee&#146;s dishonesty or fraud or
felonious conduct; (iv)&nbsp;Employee&#146;s embezzlement of funds of the Company; (v)&nbsp;any
conduct by Employee, alone or together with others, which is materially injurious
to the Company, monetary or otherwise; (vi)&nbsp;Employee&#146;s gross negligence or willful
misconduct in performance of his duties and/or responsibilities hereunder; (vii)
Employee&#146;s disregard or insubordination of any lawful resolution and/or
instruction of the CEO with respect to Employee&#146;s duties and/or responsibilities
towards the Company; (viii)&nbsp;the occurrence of an event or circumstance which may
result in the Employee having a conflict of interest with his position with the
Company, without Employee having notified the Company thereof, as provided herein;
(ix)&nbsp;any breach by Employee of his confidentiality undertakings to the Company; or
(x)&nbsp;any consequences which would entitle the Company to terminate Employee&#146;s
employment without severance payments under the Severance Pay Law.</TD>
</TR>




</TABLE>
</DIV>
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</DIV>

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


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

<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">6.4.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>During the Notice Period, the Employee shall cooperate with the Company and
assist the integration into the Company&#146;s organization of the person or persons who
will assume the Employee&#146;s responsibilities, pursuant to Company&#146;s instructions. At
the option of the Company, the Employee shall, during such period, either continue
with his duties or remain absent from the premises of the Company, subject to
applicable law. At any time during the Notice Period, the Company may elect to
terminate this Agreement and the relationship with the Employee immediately,
<U>provided</U>, <U>that</U> Employee shall be entitled to all payments and other
benefits due to his hereunder as he would have been entitled to receive for the
remaining period of the Notice 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="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">6.5.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Upon termination of Employee&#146;s employment with the Company hereunder, for any
reason whatsoever, the Company shall have no further obligation or liability towards
the Employee in connection with his employment as aforesaid. The Company may set-off
any outstanding amounts due to it by Employee against any payment due by the Company
to the Employee, subject to applicable law. Without limiting the generality of the
foregoing, in the event that Employee fails to comply with his prior notice or other
obligations hereunder or under applicable law, the Company shall be entitled to
set-off any amount to which Employee would have been entitled during the Notice
Period, from any payment due by the Company to the Employee, all without prejudice to
any other remedy to which the Company may be entitled pursuant to this Agreement or
applicable 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="3%" nowrap align="left">6.6.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>The provisions of Sections&nbsp;2.9.3, last sentence of Section&nbsp;2.10, last
sentence of Section&nbsp;2.11, Sections&nbsp;3, 4, 5, 6.6, 6.7 and 8.4 and any provision of the
policies specified in Section&nbsp;1.5 that by its terms survives the termination of
employment shall survive the termination or expiration of this Agreement for any
reason whatsoever. The provisions of section 2.4 and Section&nbsp;2.5 shall survive the
termination of this Agreement subject to the terms set forth applicable to termination
in the respective section.</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><U><B>Notices. </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="3%" nowrap align="left">7.1.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Any and all notices and communications in connection with this Agreement
shall be in writing, addressed to the parties as follows:</TD>
</TR>

</TABLE>
</DIV>
<DIV align="right">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="98%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="15%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="82%">&nbsp;</TD>
</TR>
<TR></TR>
<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">If to the Company:
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top"><B>Protalix Ltd.</B></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">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">2 Snunit Street, POB 455, Carmiel, 20100, Israel</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">If to the Employee:
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top"><B>Tzvi Palash</B></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">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Aharon Boxer 12/4, Ness Ziona, Israel</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>


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

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

<DIV align="center" style="font-size: 10pt; margin-top: 18pt">11
</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">7.2.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>All notices shall be given by registered mail (postage prepaid), by facsimile
or email or otherwise delivered by hand or by messenger to the Parties&#146; respective
addresses as above or such other address as may be designated by notice. Any notice
sent in accordance with this Section&nbsp;7 shall be deemed received upon the earlier of:
(i)&nbsp;if sent by facsimile or email, upon transmission and electronic confirmation of
transmission or (if transmitted and received on a non-business day) on the first
business day following transmission and electronic confirmation of transmission, (ii)
if sent by registered mail, upon 3 (three)&nbsp;days of mailing, (iii)&nbsp;if sent by
messenger, upon delivery; and (iv)&nbsp;the actual receipt thereof.</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><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="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">8.1.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD><U>Headings; Interpretation</U>. Section and Subsection headings contained
herein are for reference and convenience purposes only and shall not in any way be
used for 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="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">8.2.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD><U>Entire Agreement</U>. This Agreement constitutes the entire agreement
between the Parties with respect to the subject matters hereof and cancels and
supersedes all prior agreements, understandings and arrangements, oral or written,
between the Parties with respect to such subject matters.</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><U>Amendment; Waiver</U>. No provision of this Agreement may be modified or
amended unless such modification or amendment is agreed to in writing and signed by
the Employee and the Company. The observance of any term hereof may be waived (either
prospectively or retroactively and either generally or in a particular instance) only
with the written consent of the Party against which/whom such waiver is sought. No
waiver by either Party at any time to act with respect to any breach or default by the
other Party of, or compliance with, any condition or provision of this Agreement to be
performed by such other Party shall be deemed a waiver of similar or dissimilar
provisions or conditions at the same or at any prior or subsequent 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="3%" nowrap align="left">8.4.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD><U>Governing Law; Dispute Resolution</U>. This Agreement shall be governed
by and construed in accordance with the laws of the State of Israel. Any dispute
arising out of or relating to this Agreement shall be exclusively resolved by the
competent court in Tel-Aviv Jaffa.</TD>
</TR>




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<DIV align="center" style="font-size: 10pt; margin-top: 18pt">12
</DIV>

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<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">8.5.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD><U>Severability</U>. The provisions of this Agreement shall be deemed
severable and the invalidity or unenforceability of any provision shall not affect the
validity or enforceability of the other provisions hereof. If any part of this
Agreement is determined to be invalid, illegal or unenforceable, such determination
shall not affect the validity, legality or enforceability of any other part of this
Agreement; and the remaining parts shall be enforced as if such invalid, illegal, or
unenforceable part were not contained herein, <U>provided</U>, <U>however</U>, that
in such event this Agreement shall be interpreted so as to give effect, to the
greatest extent consistent with and permitted by applicable law, to the meaning and
intention of the excluded provision as determined by such court of competent
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="3%" nowrap align="left">8.6.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD><U>Assignment</U>. Neither this Agreement or any of the Employee&#146;s rights,
privileges, or obligations set forth in, arising under, or created by this Agreement
may be assigned or transferred by the Employee without the prior consent in writing of
the Company. The Company shall be entitled to assign its rights and obligations
hereunder to any entity acquiring a material part of its assets or to a subsidiary,
affiliate or parent company thereof (as such terms are defined in the Israeli
Securities Law-1968).</TD>
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<DIV align="center" style="font-size: 10pt; margin-top: 18pt">13
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<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><I>&#091;Signature Page to Protalix Ltd. Employment Agreement&#093;</I>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">IN WITNESS WHEREOF, the Parties hereto have executed this Employment Agreement as of the date
first above-mentioned.
</DIV>

<DIV align="center">
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    <TD width="35%">&nbsp;</TD>
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    <TD width="5%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
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    <TD width="19%">&nbsp;</TD>
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<TD valign="top">/s/&nbsp;David
Aviezer<DIV style="margin-left:0px; text-indent:-0px"><DIV style="width: 100%; border-bottom: 1px solid #000000; FONT-size: 1px">&nbsp;</DIV>
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>

<TD align="left" valign="top">/s/&nbsp;Tzvi
Palash<DIV style="width: 100%; border-bottom: 1px solid #000000; FONT-size: 1px">&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"><B>PROTALIX LTD.</B>
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top"><B>TZVI PALASH</B></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
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    <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">Date: 22/8/2010
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Date: 22/8/2010</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
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    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
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    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">

<TD align="left" valign="top" style="border-bottom: 1px solid #000000">By:&nbsp;David Aviezer</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top" style="border-bottom: 0px solid #000000">&nbsp;</TD>
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<DIV align="right" style="font-size: 10pt; margin-top: 12pt">Exhibit&nbsp;99.1
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>Protalix BioTherapeutics Names Tzvi Palash Chief Operating Officer</B>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">CARMIEL, Israel, September&nbsp;7, 2010 &#151; Protalix BioTherapeutics, Inc. (NYSE-Amex: PLX) today
announced the appointment of Mr.&nbsp;Tzvi Palash as the Company&#146;s Chief Operating Officer. In this
newly created position, Mr.&nbsp;Palash will be responsible for overseeing the Company&#146;s manufacturing
activities and implementing the expansion phase of the Company&#146;s facility as it transitions from a
research and development organization to a fully-integrated biotechnology company.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Mr.&nbsp;Palash brings over 25&nbsp;years of expertise in commercial operations in the healthcare industry to
the Company, including experience in the planning, construction and scale-up of manufacturing
facilities, product quality assurance (QA)&nbsp;and validation, regulatory compliance and general
production oversight for biotechnology and pharmaceutical companies. Prior to joining the Company,
he served as General Manager at ColBar LifeScience Ltd., a subsidiary of Johnson &#038; Johnson, Plant
Manager at C.T.S., (a drug manufacturing facility), QA manager at Teva Pharmaceutical Industries
and Production Manager at Interpharm Laboratories, a subsidiary of Serono.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&#147;Protalix is at an exciting stage in its evolution as it prepares for the anticipated launch of
taliglucerase alfa for the treatment of Gaucher disease and advances its drug pipeline through
clinical development. It is crucial that we continue to maintain the quality and supply of our
product candidates as we embark on commercialization and continue to grow. We are delighted to
have Tzvi join us, given his experience in manufacturing and commercial operations,&#148; said Dr.&nbsp;David
Aviezer, the Company&#146;s President and Chief Executive Officer. &#147;His knowledge and experience in
product operations, particularly in biologics manufacturing, scale-up and quality assurance, is an
important asset for Protalix.&#148;
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">As General Manager at ColBar LifeScience, he was responsible for overseeing all operations,
including product development and manufacturing for the Company&#146;s Collagen based Glymatrix
technology. He successfully led FDA audits for Evolence<SUP style="FONT-size: 85%; vertical-align: text-top">&#174;</SUP> and Ossix<SUP style="FONT-size: 85%; vertical-align: text-top">&#174;</SUP>, and was
a member of the Global Aesthetic Management Team within the Consumer Group of Johnson &#038; Johnson.
At ColBar LifeScience, Mr.&nbsp;Palash led the planning, construction, scale-up and regulatory oversight
of their manufacturing facility. Prior to joining ColBar LifeScience in 2001, Mr.&nbsp;Palash has,
amongst other roles, led the planning and construction of a pharmaceutical manufacturing facility
for C.T.S. and was involved in the construction and scale up of a recombinant interferon plant for
Interpharm Laboratories, where he was Production Manager for human fibroblast interferon
production.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Mr.&nbsp;Palash received a B.Sc. in Biology from the Tel Aviv University and a M.Sc. in Biochemistry
from the Hebrew University, Jerusalem.
</DIV>


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

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Protalix is a biopharmaceutical company focused on the development and commercialization of
recombinant therapeutic proteins expressed through its proprietary plant cell based expression
system. Protalix&#146;s ProCellEx&#153; presents a proprietary method for the expression of recombinant
proteins that Protalix believes will allow for the cost-effective, industrial-scale production of
recombinant therapeutic proteins in an environment free of mammalian components and viruses.
Protalix is also advancing additional recombinant biopharmaceutical drug development programs.
Taliglucerase alfa is an enzyme replacement therapy in development under a Special Protocol
Assessment with the FDA for Gaucher
</DIV>




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<DIV align="left" style="font-size: 10pt; margin-top: 6pt">disease. The Company&#146;s new drug application (NDA)&nbsp;for taliglucerase alfa has been accepted by the
U.S. Food and Drug Administration (FDA)&nbsp;and granted a Prescription Drug User Fee Act (PDUFA)&nbsp;action
date of February&nbsp;25, 2011.
</DIV>


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

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">To the extent that statements in this press release are not strictly historical, all such
statements are forward-looking, and are made pursuant to the safe-harbor provisions of the Private
Securities Litigation Reform Act of 1995. These forward-looking statements are subject to known
and unknown risks and uncertainties that may cause actual future experience and results to differ
materially from the statements made. These statements are based on our current beliefs and
expectations as to such future outcomes. Drug discovery and development involve a high degree of
risk. Factors that might cause material differences include, among others, risks relating to: the
successful preclinical development of our product candidates; the completion of our clinical
trials; the review process of the FDA, the EMEA, other foreign regulatory bodies and other
governmental regulatory bodies, including the FDA&#146;s and the EMEA&#146;s review of any filings we make in
connection with the treatment protocol for taliglucerase alfa and including the risk that
regulatory authorities may find that the data from our clinical trials and other studies is
insufficient for regulatory approval; delays in the FDA&#146;s, the EMEA&#146;s or other health regulatory
authorities&#146; approval of any applications we file or refusals to approve such filings, including
the NDA we filed with the FDA for taliglucerase alfa for the treatment of Gaucher disease; refusals
by such regulatory authorities to approve the marketing and sale of a drug product even after
acceptance of an application we file for any such drug product; and other factors described in our
filings with the Securities and Exchange Commission. Companies in the pharmaceutical and
biotechnology industries have suffered significant setbacks in advanced or late-stage clinical
trials, even after obtaining promising earlier trial results or in preliminary findings for such
clinical trials. Further, even if favorable testing data is generated by clinical trials of drug
products, the FDA, EMEA or any other foreign regulatory authority may not accept or approve an NDA
filed by a pharmaceutical or biotechnology company for such drug product. Failure to obtain
approval from the FDA, EMEA or any other foreign regulatory authority of any of our drug candidates
in a timely manner, if at all, will severely undermine our business and results of operations by
reducing our potential marketable products and our ability to generate corresponding product
revenues. The statements in this release are valid only as of the date hereof and we disclaim any
obligation to update this information.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><B>Investor Contact:</B><BR>
Marcy Nanus<BR>
The Trout Group, LLC<BR>
Telephone: 646-378-2927<BR>
Email: mnanus@troutgroup.com

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