ENGLISH SUMMARY OF THE OPERATIONS PURCHASE AGREEMENT (ORIGINAL LANGUAGE- HEBREW) BY AND AMONG SHAGRIR SYSTEMS LTD. AND AND SHIMON BARZILAY Dated October 11, 2011 (the "Agreement")* *As amended by an amendment dated January 1, 2012Operations Purchase Agreement • March 29th, 2012 • Pointer Telocation LTD • Radio & tv broadcasting & communications equipment
Description: Purchase Agreement pursuant to which Shagrir Systems Ltd. (the "Purchaser") will purchase the operations and property of K.S. Operation Centers for Vehicles Ltd. ("KS") and Shimon Barzilay (the "Owner" and together with KS, the "Sellers"). The Sellers own and operate bodywork garages. Consideration: NIS 12,000,000 (the "Consideration"). At closing, NIS 9,000,000 shall be paid to KS, and NIS 3,000,000 shall be paid directly to the Owner in consideration for goodwill. Commercial Terms The Purchaser shall acquire the Sellers' three (3) garages, including fixed assets, intellectual property, goodwill, agreements, inventory, materials, and applicable licenses and permits, and shall assume substantially all of the liabilities of KS (collectively, the "Assets"). The Purchaser shall also obtain the right to repayment of loans extended to certain KS employees in an aggregate amount of NIS 104,189.
