Tel Aviv, Israel, August 12, 2009 – Makhteshim Agan (TASE – MAIN) announced that the Company’s Board of Directors has approved the following employment terms and remuneration of Mr. Erez Vigodman, the incoming CEO of the Company: 

From September 15, 2009, Mr. Vigodman shall be employed by the Company and will begin an overlap period until formally assuming the role of CEO on January 1, 2010.

Mr. Vigodman shall be entitled to a monthly salary in the sum of NIS 110,000 gross, linked to increases in CPI.

Mr. Vigodman shall be entitled, at the end of each calendar year as of 2010, to a bonus payment based on the Company’s annual income before tax, as follows:

If the Company’s annual income before tax is at least USD 100 million then Mr. Vigodman shall be entitled to a grant in the sum of $250,000

If the Company’s annual income before tax is greater than $100 million then, in addition to the above payment, Mr. Vigodman shall be entitled to a payment which equals to 0.5% of the Company’s income before tax above $100 million

The Company shall issue Mr. Vigodman 3,600,000 option warrants each exercisable for one ordinary share of NIS 1.00 par value of the Company: as follows:

900,000 option warrants which are to vest in three equal annual installments of 300,000 option warrants (each) at an exercise price of NIS 33.04 for each option warrant

2,700,000 option warrants which are to vest in three equal annual installments of 900,000 option warrants (each), at an exercise price of NIS 20,22 for each option warrant