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    <div style="DISPLAY: block; TEXT-INDENT: 0pt">&#160;</div>
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    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">SECURITIES
AND EXCHANGE COMMISSION</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">WASHINGTON,
D.C. 20549</font></div>
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    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">FORM
8-K</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">CURRENT
REPORT</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">PURSUANT
TO SECTION 13 OR 15 (d) OF</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">THE
SECURITIES EXCHANGE ACT OF 1934</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt">&#160;</div>
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      <table cellpadding="0" cellspacing="0" width="100%" style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman">
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              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: times new roman; TEXT-DECORATION: underline">November
      16, 2009</font></div>
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              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">Date
      of Report (Date of earliest event
reported)</font></div>
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    <div style="DISPLAY: block; TEXT-INDENT: 0pt">&#160;</div>
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            <td valign="top" width="78%" style="TEXT-ALIGN: center">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: times new roman; TEXT-DECORATION: underline">Hotel
      Outsource Management International, Inc.</font></div>
            </td>
          </tr><tr>
            <td valign="top" width="78%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">&#160;(Exact
      Name of Registrant as Specified in Its
Charter)</font></div>
            </td>
          </tr></table>
    </div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt">&#160;</div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt">&#160;</div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt">&#160;</div>
    <div>
      <table cellpadding="0" cellspacing="0" width="100%" style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman">
<tr>
            <td valign="bottom" width="29%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: times new roman; TEXT-DECORATION: underline">Delaware</font></div>
            </td>
            <td valign="bottom" width="27%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: times new roman; TEXT-DECORATION: underline">6719</font></div>
            </td>
            <td valign="bottom" width="22%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: times new roman; TEXT-DECORATION: underline">13-4167393</font></div>
            </td>
          </tr><tr>
            <td valign="bottom" width="29%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">(State
      or Other Jurisdiction of</font></div>
            </td>
            <td valign="bottom" width="27%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">Commission
      File</font></div>
            </td>
            <td valign="bottom" width="22%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">(I.R.S.
      Employer</font></div>
            </td>
          </tr><tr>
            <td valign="bottom" width="29%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">Incorporation
      or Organization)</font></div>
            </td>
            <td valign="bottom" width="27%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">Number</font></div>
            </td>
            <td valign="bottom" width="22%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">Identification
      No.)</font></div>
            </td>
          </tr></table>
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    <div style="DISPLAY: block; TEXT-INDENT: 0pt">&#160;</div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt">&#160;</div>
    <div>
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<tr>
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              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: times new roman; TEXT-DECORATION: underline">80
      Wall Street, Suite 815, New York, New York</font></div>
            </td>
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              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: times new roman; TEXT-DECORATION: underline"><font style="FONT-SIZE: 12pt">10005</font></font></div>
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          </tr><tr>
            <td align="left" valign="top" width="63%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">(Address
      of Principal Executive Offices)</font></div>
            </td>
            <td valign="bottom" width="15%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">(Zip
      Code)</font></div>
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          </tr></table>
    </div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt">&#160;</div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt">&#160;</div>
    <div>
      <table cellpadding="0" cellspacing="0" width="100%" style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman">
<tr>
            <td valign="top" width="78%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: times new roman; TEXT-DECORATION: underline">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;
      212-344-1600&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;
      </font></div>
            </td>
          </tr><tr>
            <td valign="top" width="78%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">Registrant&#8217;s
      telephone number, including area
code</font></div>
            </td>
          </tr></table>
    </div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt">&#160;</div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt">&#160;</div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt">&#160;</div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt">&#160;</div>
    <div>
      <table cellpadding="0" cellspacing="0" width="100%" style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman">
<tr>
            <td valign="top" width="78%"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">      </font>
              <hr style="COLOR: black" align="center" noshade size="1" width="80%">      </td>
          </tr><tr>
            <td valign="top" width="78%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">(Former
      Name or former Address, if Changed Since Last
  Report)</font></div>
            </td>
          </tr></table>
    </div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt">&#160;</div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt">&#160;</div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt">&#160;</div>
    <div id="PGBRK" style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
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        <div style="WIDTH: 100%; TEXT-ALIGN: center">&#160;</div>
        <div style="WIDTH: 100%; TEXT-ALIGN: center">
          <hr style="COLOR: black" noshade size="2">
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      </div>
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    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">Item 1.01
&#8211; Entry into a Material Definitive Agreement</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">On
October 25, 2009, HOMI Industries Ltd (&#8220;HOMI Industries&#8221;), which is a wholly
owned subsidiary of Hotel Outsource Management International, Inc., entered into
twp loan agreements with Moise Laurent Elkrief and Sonia Elkrief (collectively,
&#8220;Elkrief&#8221;).&#160;</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">The first
executed agreement was delivered to HOMI INDUSTRIES on November 12, 2009.
Pursuant to this agreement, Elkrief lent HOMI INDUSTRIES $88,500 (the
&#8220;Loan&#8221;).</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">As
security and collateral for repayment of the Loan, HOMI INDUSTRIES will cause
its affiliate, HOMI USA, Inc. (&#8220;HOMI&#8217;s Affiliate&#8221;), which is also a wholly owned
subsidiary of Hotel Outsource Management International, Inc., to encumber in
Elkrief&#8217;s favor a computerized minibar system, including 177 HOMI<font style="DISPLAY: inline; FONT-SIZE: 70%; VERTICAL-ALIGN: text-top">&#174;</font>
computerized minibars, a central unit and a license to HOMI<font style="DISPLAY: inline; FONT-SIZE: 70%; VERTICAL-ALIGN: text-top">&#174;</font>
software, which HOMI&#8217;s Affiliate intends to install in January 2010 at the
Strand Hotel (the &#8220;Hotel&#8221;) in New York, USA (the &#8220;Minibar System&#8221;) and operate
for the Hotel under an outsource operation agreement which HOMI&#8217;s Affiliate
signed with the Hotel (the &#8220;Outsource Operation&#8221;).</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">HOMI
INDUSTRIES will make monthly payments to Elkrief towards repayment of the Loan.
These payments (&#8220;Monthly Repayments&#8221;) will not be in a fixed amount. The amount
of each Monthly Repayment will be computed on the basis of HOMI&#8217;s Affiliate&#8217;s
revenues from the Outsource Operation. HOMI&#8217;s Affiliate shall invoice the Hotel
for the full amount of the net revenues from the Outsource Operation (&#8220;Net
Revenues&#8221;).&#160;&#160;From the sum equal to the Net Revenues, HOMI INDUSTRIES
will deduct (a) the cost of goods to be sold in the minibars; (b) labor costs;
(c) a maintenance fee of $0.06 per minibar per day; and (d) a management fee of
8% of Net Revenues (collectively, &#8220;Operational Payments&#8221;).</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">Until
completion of the first 8 years of the Loan Agreement (the &#8220;Milestone&#8221;), on a
monthly basis, if Net Revenues, as collected by HOMI&#8217;s Affiliate, exceed
Operational Payments by at least $2,213, then the amount of the Monthly
Repayment which HOMI INDUSTRIES will pay to Elkrief shall be equal to 60% of all
such excess; if Net Revenues from Hotel, as collected by HOMI&#8217;s Affiliate,
exceed Operational Payments by more $1,328 but less than $2,213, then the amount
of the Monthly Repayment which HOMI INDUSTRIES will pay to Elkrief shall be
exactly $1,328; if Net Revenues from Hotel, as collected by HOMI&#8217;s Affiliate,
exceed Operational Payments by less than $1,328, then the amount of the Monthly
Repayment which HOMI INDUSTRIES will pay to Elkrief shall be a sum equal to 100%
of all such excess; and if Net Revenues from Hotel, as collected by HOMI&#8217;s
Affiliate, do not exceed Operational Payments, then no Monthly Repayment will be
made to Elkrief for that month.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">Once the
Milestone has been reached, each Monthly Payment will be in an amount equal to
60% of the sum, if any, by which Net Revenues, as collected by HOMI&#8217;s Affiliate,
exceeded Operational Payments, for that month.</font></div>
    <div id="PGBRK" style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
      <div id="FTR">
        <div id="GLFTR" style="WIDTH: 100%" align="left">&#160;</div>
      </div>
      <div id="PN" style="PAGE-BREAK-AFTER: always">
        <div style="WIDTH: 100%; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman">2</font></div>
        <div style="WIDTH: 100%; TEXT-ALIGN: center">
          <hr style="COLOR: black" noshade size="2">
        </div>
      </div>
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      </div>
    </div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">HOMI
INDUSTRIES shall continue to affect the Monthly Payments to Elkrief for as long
as the Outsource Operation continues in respect of the Minibar System. If and
when the aggregate total of such Monthly Repayments exceeds the principal of the
Loan, such repayments shall be deemed interest on the Loan, up to and including
a sum equivalent to annual interest of 8%, and thereafter will be deemed
additional interest on the Loan.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">If the
Outsource Operation is terminated prior to the Milestone being reached, and the
minibar system is removed from the hotel, HOMI INDUSTRIES will, at its own cost,
have the Minibar System reinstalled in another hotel with similar revenue
earning capacity as the Hotel within six months.&#160;&#160;In the event HOMI
INDUSTRIES does not have the Minibar System placed in another similar hotel
within six months of termination of its outsource agreement, HOMI INDUSTRIES
shall transfer the encumbrance to a similar minibar system owned by one of HOMI
Industries&#8217; affiliates, instead of the initial Minibar System, and Monthly
Repayments will be computed in relation to the replacement minibar
system.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">HOMI
INDUSTRIES intends to enter into similar agreements in the future.</font></div>
    <div>&#160;</div>
    <div>&#160;</div>
    <div>&#160;</div>
    <div>&#160;</div>
    <div>&#160;</div>
    <div>&#160;</div>
    <div>&#160;</div>
    <div>&#160;</div>
    <div>&#160;</div>
    <div><br>&#160;</div>
    <div id="PGBRK" style="MARGIN-LEFT: 0pt; WIDTH: 100%; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
      <div id="FTR">
        <div id="GLFTR" style="WIDTH: 100%" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">&#160;
</font></div>
      </div>
      <div id="PN" style="PAGE-BREAK-AFTER: always">
        <div style="WIDTH: 100%; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">3&#160;
</font></div>
        <div style="WIDTH: 100%; TEXT-ALIGN: center">
          <hr style="COLOR: black" noshade size="2"> </div>
      </div>
      <div id="HDR">
        <div id="GLHDR" style="WIDTH: 100%" align="right"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">&#160;
</font></div>
      </div>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">The
second agreement between HOMI Industries and Elkrief was entered into on October
25, 2009. &#160;The executed agreement was delivered to HOMI INDUSTRIES on
November 12, 2009. Pursuant to this agreement, Elkrief lent HOMI INDUSTRIES
$83,000 (the &#8220;Loan&#8221;).</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">As
security and collateral for repayment of the Loan, HOMI INDUSTRIES will cause
its affiliate, HOMI Israel Ltd (&#8220;HOMI&#8217;s Affiliate&#8221;), which is also a wholly
owned subsidiary of Hotel Outsource Management International, Inc., to encumber
in Elkrief&#8217;s favor a computerized minibar system, including 166 HOMI<font style="DISPLAY: inline; FONT-SIZE: 70%; VERTICAL-ALIGN: text-top">&#174;</font>
computerized minibars, a central unit and a license to HOMI<font style="DISPLAY: inline; FONT-SIZE: 70%; VERTICAL-ALIGN: text-top">&#174;</font>
software, which was installed and is operated by HOMI&#8217;s Affiliate at the
Leonardo Ramat HaHayal Hotel (the &#8220;Hotel&#8221;) in Tel-Aviv, Israel (the &#8220;Minibar
System&#8221;), under an outsource operation agreement which HOMI&#8217;s Affiliate signed
with the Hotel (the &#8220;Outsource Operation&#8221;).</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">HOMI
INDUSTRIES will make monthly payments to Elkrief towards repayment of the Loan.
These payments (&#8220;Monthly Repayments&#8221;) will not be in a fixed amount. The amount
of each Monthly Repayment will be computed on the basis of HOMI&#8217;s Affiliate&#8217;s
revenues from the Outsource Operation. HOMI&#8217;s Affiliate shall invoice the Hotel
for the full amount of the net revenues from the Outsource Operation (&#8220;Net
Revenues&#8221;).&#160;&#160;From the sum equal to the Net Revenues, HOMI INDUSTRIES
will deduct (a) the cost of goods to be sold in the minibars; (b) labor costs;
(c) a maintenance fee of $0.06 per minibar per day; and (d) a management fee of
8% of Net Revenues (collectively, &#8220;Operational Payments&#8221;).</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">Until
completion of the first 8 years of the Loan Agreement (the &#8220;Milestone&#8221;), on a
monthly basis, if Net Revenues, as collected by HOMI&#8217;s Affiliate, exceed
Operational Payments by at least $2,075, then the amount of the Monthly
Repayment which HOMI INDUSTRIES will pay to Elkrief shall be equal to 60% of all
such excess; if Net Revenues from Hotel, as collected by HOMI&#8217;s Affiliate,
exceed Operational Payments by more $1,245 but less than $2,075, then the amount
of the Monthly Repayment which HOMI INDUSTRIES will pay to Elkrief shall be
exactly $1,245; if Net Revenues from Hotel, as collected by HOMI&#8217;s Affiliate,
exceed Operational Payments by less than $1,245, then the amount of the Monthly
Repayment which HOMI INDUSTRIES will pay to Elkrief shall be a sum equal to 100%
of all such excess; and if Net Revenues from Hotel, as collected by HOMI&#8217;s
Affiliate, do not exceed Operational Payments, then no Monthly Repayment will be
made to Elkrief for that month.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">Once the
Milestone has been reached, each Monthly Payment will be in an amount equal to
60% of the sum, if any, by which Net Revenues, as collected by HOMI&#8217;s Affiliate,
exceeded Operational Payments, for that month.</font></div>
    <div id="PGBRK" style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
      <div id="FTR">&#160;</div>
    </div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">HOMI
INDUSTRIES shall continue to affect the Monthly Payments to Elkrief for as long
as the Outsource Operation continues in respect of the Minibar System. If and
when the aggregate total of such Monthly Repayments exceeds the principal of the
Loan, such repayments shall be deemed interest on the Loan, up to and including
a sum equivalent to annual interest of 8%, and thereafter will be deemed
additional interest on the Loan.</font></div>
    <div id="PGBRK" style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
      <div id="FTR">
        <div id="GLFTR" style="WIDTH: 100%" align="left">&#160;</div>
      </div>
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        <div style="WIDTH: 100%; TEXT-ALIGN: center"><font size="3" style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman">4</font></div>
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        </div>
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    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">If the
Outsource Operation is terminated prior to the Milestone being reached, and the
minibar system is removed from the hotel, HOMI INDUSTRIES will, at its own cost,
have the Minibar System reinstalled in another hotel with similar revenue
earning capacity as the Hotel within six months.&#160;&#160;In the event HOMI
INDUSTRIES does not have the Minibar System placed in another similar hotel
within six months of termination of its outsource agreement, HOMI INDUSTRIES
shall transfer the encumbrance to a similar minibar system owned by one of
HOMI&#8217;s affiliates, instead of the initial Minibar System, and Monthly Repayments
will be computed in relation to the replacement minibar system.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">HOMI
INDUSTRIES intends to enter into similar agreements in the future.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt">&#160;</div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt">&#160;</div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">Item 9.01
&#8211;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;Financial
Statements and Exhibits</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">(d)
Exhibits</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: times new roman"><font style="FONT-SIZE: 12pt"><font style="DISPLAY: inline; FONT-SIZE: 12pt; TEXT-DECORATION: underline">Exhibit
No.</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="DISPLAY: inline; FONT-SIZE: 12pt; TEXT-DECORATION: underline">Description</font></font></font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt">&#160;</div>
    <div>
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<tr valign="top">
            <td style="WIDTH: 72pt">
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">10.01</font></div>
            </td>
            <td>
              <div align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">Loan
      Agreement between HOMI Industries, Inc. and Moise Laurent Elkrief and
      Sonia Elkrief dated October 25, 2009 (HOMI USA,
  Inc.)</font></div>
            </td>
          </tr></table>
    </div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt">&#160;</div>
    <div>
      <table align="center" border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%" style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman">
<tr valign="top">
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              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">10.02</font></div>
            </td>
            <td>
              <div align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">Loan
      Agreement between HOMI Industries, Inc. and Moise Laurent Elkrief and
      Sonia Elkrief dated October 25, 2009 (HOMI Israel
  Ltd.)</font></div>
            </td>
          </tr></table>
    </div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt">&#160;</div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt">&#160;</div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt">&#160;</div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt">&#160;</div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt">&#160;</div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt">&#160;</div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt">&#160;</div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt">&#160;</div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt">&#160;</div>
    <div id="PGBRK" style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
      <div id="FTR">
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        <div style="WIDTH: 100%; TEXT-ALIGN: center"><font size="3" style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman">5</font></div>
        <div style="WIDTH: 100%; TEXT-ALIGN: center">
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    <div style="DISPLAY: block; TEXT-INDENT: 0pt; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">SIGNATURE</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: times new roman"><font id="TAB1" style="FONT-SIZE: 12pt; MARGIN-LEFT: 36pt"></font><font style="FONT-SIZE: 12pt">Pursuant to the requirements of the Securities Exchange
Act of 1934, as amended, the Registrant has duly caused this report to be signed
on its behalf by the undersigned, hereto duly authorized.</font></font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt">&#160;</div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt">&#160;</div>
    <div>
      <table cellpadding="0" cellspacing="0" width="100%" style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman">
<tr>
            <td align="left" valign="top" width="35%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">November
      16, 2009</font></div>
            </td>
            <td align="left" colspan="3" valign="top" width="43%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">Hotel
      Outsource Management International, Inc.</font></div>
            </td>
          </tr><tr>
            <td valign="top" width="35%"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
            <td colspan="3" valign="top" width="43%"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
          </tr><tr>
            <td valign="top" width="35%"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
            <td valign="top" width="5%"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
            <td valign="top" width="19%"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
            <td valign="top" width="19%"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
          </tr><tr>
            <td valign="top" width="35%"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
            <td align="left" valign="top" width="5%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">By:</font></div>
            </td>
            <td align="left" valign="top" width="19%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">/s/
      Jacob Ronnel</font></div>
            </td>
            <td valign="top" width="19%"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
          </tr><tr>
            <td valign="top" width="35%"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
            <td align="left" colspan="3" valign="top" width="43%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">Name:&#160;&#160;Jacob
      Ronnel</font></div>
            </td>
          </tr><tr>
            <td valign="top" width="35%"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
            <td align="left" colspan="3" valign="top" width="43%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">Title&#160;&#160;:&#160;&#160;Chief
      Executive Officer</font></div>
            </td>
          </tr></table>
    </div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt">&#160;</div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt">&#160;</div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt">&#160;</div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt">&#160;</div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt">&#160;</div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt">&#160;</div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt">&#160;</div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt">&#160;</div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt">&#160;</div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt">&#160;</div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt">&#160;</div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt">&#160;</div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt">&#160;</div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt">&#160;</div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt">&#160;</div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt">&#160;</div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt">&#160;</div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt">&#160;</div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt">&#160;</div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt">&#160;</div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt">&#160;</div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt">&#160;</div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt">&#160;</div>
    <div id="PGBRK" style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
      <div id="FTR">
        <div id="GLFTR" style="WIDTH: 100%" align="left">&#160;</div>
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          <hr style="COLOR: black" noshade size="2">
        </div>
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    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">Exhibit
Index</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt">&#160;</div>
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No.</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="DISPLAY: inline; FONT-SIZE: 12pt; TEXT-DECORATION: underline">Description
of Exhibit</font></font></font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt">&#160;</div>
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            </td>
            <td>
              <div align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">Loan
      Agreement between HOMI Industries, Inc. and Moise Laurent Elkrief and
      Sonia Elkrief dated October 25, 2009 (HOMI USA
  Inc.)</font></div>
            </td>
          </tr></table>
    </div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt">&#160;</div>
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      Agreement between HOMI Industries, Inc. and Moise Laurent Elkrief and
      Sonia Elkrief dated October 25, 2009 (HOMI Israel
  Ltd.)</font></div>
            </td>
          </tr></table>
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    <div style="DISPLAY: block; TEXT-INDENT: 0pt">&#160;</div>
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form8_k.htm
SECURITIES
AND EXCHANGE COMMISSION
WASHINGTON,
D.C. 20549
FORM
8-K
CURRENT
REPORT
PURSUANT
TO SECTION 13 OR 15 (d) OF
THE
SECURITIES EXCHANGE ACT OF 1934
November
      16, 2009
Date
      of Report (Date of earliest event
reported)
Hotel
      Outsource Management International, Inc.
(Exact
      Name of Registrant as Specified in Its
Charter)
Delaware
6719
13-4167393
(State
      or Other Jurisdiction of
Commission
      File
(I.R.S.
      Employer
Incorporation
      or Organization)
Number
Identification
      No.)
80
      Wall Street, Suite 815, New York, New York
10005
(Address
      of Principal Executive Offices)
(Zip
      Code)
212-344-1600
Registrant's
      telephone number, including area
code
(Former
      Name or former Address, if Changed Since Last
  Report)
Item 1.01
– Entry into a Material Definitive Agreement
On
October 25, 2009, HOMI Industries Ltd ("HOMI Industries"), which is a wholly
owned subsidiary of Hotel Outsource Management International, Inc., entered into
twp loan agreements with Moise Laurent Elkrief and Sonia Elkrief (collectively,
"Elkrief").
The first
executed agreement was delivered to HOMI INDUSTRIES on November 12, 2009.
Pursuant to this agreement, Elkrief lent HOMI INDUSTRIES $88,500 (the
"Loan").
As
security and collateral for repayment of the Loan, HOMI INDUSTRIES will cause
its affiliate, HOMI USA, Inc. ("HOMI's Affiliate"), which is also a wholly owned
subsidiary of Hotel Outsource Management International, Inc., to encumber in
Elkrief's favor a computerized minibar system, including 177 HOMI
®
computerized minibars, a central unit and a license to HOMI
®
software, which HOMI's Affiliate intends to install in January 2010 at the
Strand Hotel (the "Hotel") in New York, USA (the "Minibar System") and operate
for the Hotel under an outsource operation agreement which HOMI's Affiliate
signed with the Hotel (the "Outsource Operation").
HOMI
INDUSTRIES will make monthly payments to Elkrief towards repayment of the Loan.
These payments ("Monthly Repayments") will not be in a fixed amount. The amount
of each Monthly Repayment will be computed on the basis of HOMI's Affiliate's
revenues from the Outsource Operation. HOMI's Affiliate shall invoice the Hotel
for the full amount of the net revenues from the Outsource Operation ("Net
Revenues").  From the sum equal to the Net Revenues, HOMI INDUSTRIES
will deduct (a) the cost of goods to be sold in the minibars; (b) labor costs;
(c) a maintenance fee of $0.06 per minibar per day; and (d) a management fee of
8% of Net Revenues (collectively, "Operational Payments").
Until
completion of the first 8 years of the Loan Agreement (the "Milestone"), on a
monthly basis, if Net Revenues, as collected by HOMI's Affiliate, exceed
Operational Payments by at least $2,213, then the amount of the Monthly
Repayment which HOMI INDUSTRIES will pay to Elkrief shall be equal to 60% of all
such excess; if Net Revenues from Hotel, as collected by HOMI's Affiliate,
exceed Operational Payments by more $1,328 but less than $2,213, then the amount
of the Monthly Repayment which HOMI INDUSTRIES will pay to Elkrief shall be
exactly $1,328; if Net Revenues from Hotel, as collected by HOMI's Affiliate,
exceed Operational Payments by less than $1,328, then the amount of the Monthly
Repayment which HOMI INDUSTRIES will pay to Elkrief shall be a sum equal to 100%
of all such excess; and if Net Revenues from Hotel, as collected by HOMI's
Affiliate, do not exceed Operational Payments, then no Monthly Repayment will be
made to Elkrief for that month.
Once the
Milestone has been reached, each Monthly Payment will be in an amount equal to
60% of the sum, if any, by which Net Revenues, as collected by HOMI's Affiliate,
exceeded Operational Payments, for that month.
2
HOMI
INDUSTRIES shall continue to affect the Monthly Payments to Elkrief for as long
as the Outsource Operation continues in respect of the Minibar System. If and
when the aggregate total of such Monthly Repayments exceeds the principal of the
Loan, such repayments shall be deemed interest on the Loan, up to and including
a sum equivalent to annual interest of 8%, and thereafter will be deemed
additional interest on the Loan.
If the
Outsource Operation is terminated prior to the Milestone being reached, and the
minibar system is removed from the hotel, HOMI INDUSTRIES will, at its own cost,
have the Minibar System reinstalled in another hotel with similar revenue
earning capacity as the Hotel within six months.  In the event HOMI
INDUSTRIES does not have the Minibar System placed in another similar hotel
within six months of termination of its outsource agreement, HOMI INDUSTRIES
shall transfer the encumbrance to a similar minibar system owned by one of HOMI
Industries' affiliates, instead of the initial Minibar System, and Monthly
Repayments will be computed in relation to the replacement minibar
system.
HOMI
INDUSTRIES intends to enter into similar agreements in the future.
3
The
second agreement between HOMI Industries and Elkrief was entered into on October
25, 2009.  The executed agreement was delivered to HOMI INDUSTRIES on
November 12, 2009. Pursuant to this agreement, Elkrief lent HOMI INDUSTRIES
$83,000 (the "Loan").
As
security and collateral for repayment of the Loan, HOMI INDUSTRIES will cause
its affiliate, HOMI Israel Ltd ("HOMI's Affiliate"), which is also a wholly
owned subsidiary of Hotel Outsource Management International, Inc., to encumber
in Elkrief's favor a computerized minibar system, including 166 HOMI
®
computerized minibars, a central unit and a license to HOMI
®
software, which was installed and is operated by HOMI's Affiliate at the
Leonardo Ramat HaHayal Hotel (the "Hotel") in Tel-Aviv, Israel (the "Minibar
System"), under an outsource operation agreement which HOMI's Affiliate signed
with the Hotel (the "Outsource Operation").
HOMI
INDUSTRIES will make monthly payments to Elkrief towards repayment of the Loan.
These payments ("Monthly Repayments") will not be in a fixed amount. The amount
of each Monthly Repayment will be computed on the basis of HOMI's Affiliate's
revenues from the Outsource Operation. HOMI's Affiliate shall invoice the Hotel
for the full amount of the net revenues from the Outsource Operation ("Net
Revenues").  From the sum equal to the Net Revenues, HOMI INDUSTRIES
will deduct (a) the cost of goods to be sold in the minibars; (b) labor costs;
(c) a maintenance fee of $0.06 per minibar per day; and (d) a management fee of
8% of Net Revenues (collectively, "Operational Payments").
Until
completion of the first 8 years of the Loan Agreement (the "Milestone"), on a
monthly basis, if Net Revenues, as collected by HOMI's Affiliate, exceed
Operational Payments by at least $2,075, then the amount of the Monthly
Repayment which HOMI INDUSTRIES will pay to Elkrief shall be equal to 60% of all
such excess; if Net Revenues from Hotel, as collected by HOMI's Affiliate,
exceed Operational Payments by more $1,245 but less than $2,075, then the amount
of the Monthly Repayment which HOMI INDUSTRIES will pay to Elkrief shall be
exactly $1,245; if Net Revenues from Hotel, as collected by HOMI's Affiliate,
exceed Operational Payments by less than $1,245, then the amount of the Monthly
Repayment which HOMI INDUSTRIES will pay to Elkrief shall be a sum equal to 100%
of all such excess; and if Net Revenues from Hotel, as collected by HOMI's
Affiliate, do not exceed Operational Payments, then no Monthly Repayment will be
made to Elkrief for that month.
Once the
Milestone has been reached, each Monthly Payment will be in an amount equal to
60% of the sum, if any, by which Net Revenues, as collected by HOMI's Affiliate,
exceeded Operational Payments, for that month.
HOMI
INDUSTRIES shall continue to affect the Monthly Payments to Elkrief for as long
as the Outsource Operation continues in respect of the Minibar System. If and
when the aggregate total of such Monthly Repayments exceeds the principal of the
Loan, such repayments shall be deemed interest on the Loan, up to and including
a sum equivalent to annual interest of 8%, and thereafter will be deemed
additional interest on the Loan.
4
If the
Outsource Operation is terminated prior to the Milestone being reached, and the
minibar system is removed from the hotel, HOMI INDUSTRIES will, at its own cost,
have the Minibar System reinstalled in another hotel with similar revenue
earning capacity as the Hotel within six months.  In the event HOMI
INDUSTRIES does not have the Minibar System placed in another similar hotel
within six months of termination of its outsource agreement, HOMI INDUSTRIES
shall transfer the encumbrance to a similar minibar system owned by one of
HOMI's affiliates, instead of the initial Minibar System, and Monthly Repayments
will be computed in relation to the replacement minibar system.
HOMI
INDUSTRIES intends to enter into similar agreements in the future.
Item 9.01
–                      Financial
Statements and Exhibits
(d)
Exhibits
Exhibit
No.
Description
10.01
Loan
      Agreement between HOMI Industries, Inc. and Moise Laurent Elkrief and
      Sonia Elkrief dated October 25, 2009 (HOMI USA,
  Inc.)
10.02
Loan
      Agreement between HOMI Industries, Inc. and Moise Laurent Elkrief and
      Sonia Elkrief dated October 25, 2009 (HOMI Israel
  Ltd.)
5
SIGNATURE
Pursuant to the requirements of the Securities Exchange
Act of 1934, as amended, the Registrant has duly caused this report to be signed
on its behalf by the undersigned, hereto duly authorized.
November
      16, 2009
Hotel
      Outsource Management International, Inc.
By:
/s/
      Jacob Ronnel
Name:  Jacob
      Ronnel
Title  :  Chief
      Executive Officer
6
Exhibit
Index
Exhibit
No.
Description
of Exhibit
10.01
Loan
      Agreement between HOMI Industries, Inc. and Moise Laurent Elkrief and
      Sonia Elkrief dated October 25, 2009 (HOMI USA
  Inc.)
10.02
Loan
      Agreement between HOMI Industries, Inc. and Moise Laurent Elkrief and
      Sonia Elkrief dated October 25, 2009 (HOMI Israel
  Ltd.)
7