TheFrost Group, LLC 4400Biscayne Boulevard Miami,Florida33137

EX-10.1 2 v147226_ex10-1.htm
The Frost Group, LLC
4400 Biscayne Boulevard
Miami, Florida  33137


 
Date:  April 23, 2009
 
To: 
Modigene Inc.
3 Sapir Street
Weizmann Science Park
Nes-Ziona, Israel 74170
 
Re:           Credit Agreement
 
Reference is hereby made to (i) the Credit Agreement (the “Credit Agreement”) dated as of March 25, 2008 among Modigene, Inc. as the borrower (the “Borrower”), and The Frost Group, LLC, as the lender (the “Lender” capitalized terms used and not otherwise defined herein shall have the meaning assigned to them in the Credit Agreement), and (ii) the Note.
 
By signing below, the Lender hereby agrees that, effective as of the date hereof:
 
 
1.
Notwithstanding anything to the contrary in the Credit Agreement or the Note, the One-Year Anniversary (as defined in the Note) shall be extended and deemed to be May 29, 2009.
 
 
2.
The Lender hereby agrees and acknowledges that the Credit Agreement is binding and enforceable against the Lender and that, except for the modifications contained herein, the terms, conditions and provisions of the Credit Agreement and the Note, and any other documents referred to herein or therein, shall continue in full force and effect.
 
This agreement shall be governed by, and shall be construed and enforced in accordance with, the internal laws of the State of Florida.
 
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SIGNED:
 
THE FROST GROUP, LLC

 
By:        /s/ Steven D. Rubin                                                                             
 
Name:   Steven D. Rubin                                                                        
 
Title:     Member                                                                           
 

 
MODIGENE, INC.

 
By:        /s/ Shai Novik                                                                          
 
Name:   Shai Novik                                                      
 
Title:     President                                                                                  
 

 
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