Commission Agreement between Pimi Agro CleanTech Ltd and Prof. Ilan Het (January 6, 2009)

Contract Categories: Business Finance › Financing Agreements
Summary

Pimi Agro CleanTech Ltd agrees to pay Prof. Ilan Het a commission for securing investments in the company. The commission rates are 5% for the first $1 million, 4% for the second million, 3% for the third million, and 2% for any amount above $3 million. Commissions are paid as investments are received, and VAT applies. Prof. Het also has the option to invest up to 5% of the total investment amount on the same terms as the main investor, within six months, subject to investor approval.

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EX-10.6 13 ex106.htm EXHIBIT 10.6 ex106.htm
Exhibit 10.6
PIMI AGRO CleanTech
 
Pimi Marion Holdings Ltd
PO Box 117, Kibbutz Alonim
 
6th January 2009
 
Prof. Ilan Het
2 Huberman Street
Tel Aviv
 
 
Dear Sir,
 
Commission Arrangement
 
I hereby confirm that insofar as you procure an investment in our company, you will be entitled to commission at the following rates -
 
(a)
Commission at the rate of 5% of any cash investment in our company up to US$ 1 million.
 
(b)
Insofar as the investment exceeds $ 1 million, brokerage commission will be paid on the additional investment in excess of $ 1 million, as follows:
 
 
on the second million dollars or part thereof - 4%;
 
on the third million dollars or part thereof - 3%;
 
on any addition from the fourth million dollars or above - 2%.
 
(c)
If the investment is raised or the transaction performed in stages, the brokerage commission will be paid on each stage at the time it is performed in accordance with paragraphs (a) and (b) above, based on the aggregate amounts of all the stages together.
 
(d)
All the amounts will be subject to the addition of VAT on and against a due tax invoice.
 
(e)
In addition, you will be entitled to join the investor by investing in our company a maximum amount of up to 5% of the capital being invested in the company on the same terms as granted to the investor by our company. That option is effective for half a year from the date of the investment, subject to the period and the investment will also be approved by the investor.
 
Yours faithfully,
 
 
Yuval Sela, General Manager
Pimi Agro CleanTech Ltd
 
Confirmation
 
I hereby agree to and accept your offer as set out above.
 
(Signed)                                                                           6th January 2009
_______________                                                          _______________
Prof. Ilan Het                                                                   Date