87215 CANADA LIMITED
00000 XXXXXX LIMITED
May 1, 2006
To: |
Dear Sirs:
Reference is made to the proposed agreement among Xxxxxxx Xxxxxx Xxxxxxxx Family Trust, CBT Holdings, LLC, Claridge Israel LLC, Esarbee Investments Limited, The Xxxxxxx X. Xxxxxxxx Trust and Anfield Limited as vendors and Discount Investment Corp. Ltd. as purchaser with respect to the ordinary shares of Koor Industries Limited.
We hereby confirm that we have agreed, for good and valuable consideration acknowledged to have been received, to the termination of the option which you granted us in June 2004 to purchase 104,669 ordinary shares of Koor Industries Limited effective immediately provided that the option will be reinstituted in the event of the termination or other cancellation of the Share Purchase Agreement prior to the Closing thereof.
Yours very truly,
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/s/ E. Xxx Xxxxxx |
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