EX-4.20 5 f20f2017ex4-20_therapixbio.htm AMENDMENT TO EMPLOYMENT AGREEMENT DATED AS OF MARCH 1, 2018 BETWEEN THE COMPANY AND OZ ADLER (FILED HEREWITH)

Exhibit 4.20

 

AMENDMENT OF EMPLOYMENT AGREEMENT

 

This Amendment (the “Amendment”) is made and entered into on this 1day of March, 2018 (the “Effective Date”), by and between Therapix Biosciences Ltd., a public company organized under the laws of the State of Israel (the “Company”), and Oz Adler, Israeli I.D No. [*] (the “Employee”).

 

WHEREASthe Company and the Employee have entered into an Employment Agreement, dated July 19, 2017 (the “Agreement”); and

 

WHEREASthe parties desire to amend the Agreement as further set forth herein.

 

NOW THEREFORE, in consideration of the mutual promises contained herein, and intending to be legally bound, the parties hereby declare and agree as follows:

 

1.Capitalized terms used and not otherwise defined herein shall bear the respective meanings ascribed to them in the Agreement.

 

2.As of the Effective Date and the [January] salary the following terms in Exhibit A of the Agreement shall be replaced as follows:

 

2.1.Base Salary- NIS 21,000.

 

2.2.Overtime Compensation- NIS 9,000.

 

2.3.Maximum amount of accrued vacation days- 10.

 

3.Section 5.11 shall be added as follows:

 

5.11.1Subject to the obtainment of all corporate and regulatory approvals, the Company shall insure Employee under the Company’s officers’ insurance policy, in accordance with its terms.

 

5.11.2Subject to the obtainment of all corporate and regulatory approvals, to the extent required, Employee shall be entitled to exemption and indemnification in connection with the performance of his employment hereunder, in accordance with the Exemption and Indemnification Letters in the forms previously approved by the Board.

 

4.Exhibit A shall be amended so that the Amount of vacation days per year shall be 20 days.

 

5.On the Effective Date, the Employee shall be entitled to a one-time bonus in the amount of NIS 90,000 for the year 2017 which shall not derogate from the Employee’s entitlement to any future yearly bonus which may be granted at the sole discretion of the Company and subject to all required corporate approvals.

 

IN WITNESS WHEREOF, the parties have duly executed this Amendment as of the date first written above.

 

Oz Adler  

Therapix Biosciences Ltd.

/s/ Oz Adler   /s/ Ascher Shmulewitz
    By: Ascher Shmulewitz
    Title: Chairman