March 28, 2007

Gemini Israel Funds
Landa Ventures Ltd.
Hamenofim Street
7 Menachem Begin St.
9 Herzliya Pituach 46725
Ramat Gan 52521
Israel
Israel
   

Ladies and Gentelmen,

The purpose of this Letter Agreement is to set forth the terms and conditions of
our understanding and agreement relating to the extension of additional funding
to IXI Mobile, Inc. ("Borrower") provided by you.

As the Borrower has immediate need of funds, the parties have agreed that
the Gemini Israel Funds and Landa Ventures Ltd. (collectively "Lenders") shall
provide a loan to Borrower in the amount of up to US$4,000,000 (Four Million
U.S. dollars), pursuant to the terms and conditions set forth herein.

1. The Loan.

1.1.  
Loan; Tranches; Interest. Each Lender undertakes, severally and not jointly, to
loan to Borrower on the First Closing Date, the amount set forth in Schedule I
opposite its name in the column titled “First Tranche” and in the aggregate, an
amount of $2,000,000 (Two Million U.S. dollars) payable as set forth below. In
addition, each Lender shall loan additional amounts to the Borrower in the
amount set forth in Schedule I opposite its name in the column titled "Second
Tranche" and in the aggregate, an amount of $2,000,000 (Two Million U.S.
dollars) to be transferred within three (3) business days following the
provision of a written letter by the Borrower requesting such Second Tranche
(the “Second Tranche Request”). The amounts provided to the Borrower by the
Lenders throughout both Tranches, are hereinafter referred to as to each Lender
and all Lenders collectively as the “Loan Amount”.

 
1.2 Interest. The Loan Amount shall bear an annual interest at a rate of 10% per
annum, compounded annually calculated from the date of payment, on the basis of
365 days a year (the “Interest”).
 
1.3. Payment of Loan Amount. The First Tranche Loan Amount shall be transferred
by each Lender to the Borrower, in one installment, as soon as
 

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practical but in any event no later than three (3) business days from the
execution of this Letter Agreement (the "First Closing Date") and the Second
Tranche shall be transferred by each Lender to the Borrower, in one installment,
as soon as practical but in any event no later than three (3) business days from
the Second Tranche Request (the "Second Closing Date"; and together with the
First Closing Date, each, a “Closing Date”), by wire transfer to the Borrower's
bank account as advised by the Borrower.
 

1.4  
Repayment of Loan Amount.

 

1.4.1  
In the event the merger of Israel Technology Acquisition Corp., a Delaware
corporation (“ITAC”) and ITAC Acquisition Subsidiary Corp. (“ITAC Subsidiary”),
a wholly-owned subsidiary of ITAC with and into the Borrower (the “ITAC/IXI
Merger”) becomes effective and subject to and conditioned upon the ITAC/IXI
Merger becoming effective, 50% of the Loan Amount together with any Interest
accrued and unpaid thereon shall be due and payable on the first anniversary of
the closing date of the ITAC/IXI Merger and 50% of the Loan Amount together with
any Interest accrued and unpaid thereon shall be due and payable on the second
anniversary of the closing date of the ITAC/IXI Merger.

 

1.4.2  
In the event the ITAC/IXI Merger is rejected by ITAC’s shareholders or otherwise
fails to become effective, the Loan Amount together with any Interest accrued
and unpaid thereon shall be due and payable on June 22, 2008.

 
2. Lenders Option

In the event that Borrower or Subsidiary (as defined below) succeed in raising
additional funds from additional lenders other than from Southpoint Master Fund
LP ("Additional Lenders") and on different terms than those set out in this
Letter Agreement, Lenders shall have an option ("Lenders' Option") to convert
the terms of this Loan into terms identical to those agreed upon between the
Borrower and the Additional Lenders. In the event that the Borrower shall be
required to issue a pre-emptive notice to its shareholders in connection with
this conversion of terms, Lenders hereby agree to waive any pro rata share in
the Loan to accommodate any other participating stockholder.

3. Subsidiary Guaranty
 
IXI Mobile (R&D) Ltd. (“Subsidiary”) shall guarantee any and all obligations of
Borrower under this Agreement.

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4. By your signature below, you hereby agree to the terms of the Letter
Agreement and the obligation imposed on you by it.

5. This Letter Agreement may be executed in two (2) or more counterparts, each
of which shall be deemed an original, but all of which together shall constitute
one and the same instrument. The parties agree that facsimile signatures shall
be binding.

6. All notices required or permitted hereunder shall be in writing and shall be
deemed effectively given: (a) upon personal delivery to the party to be
notified, (b) when sent by confirmed facsimile if sent during normal business
hours of the recipient, if not, then on the next business day of the recipient,
(c) three (3) days after having been sent by registered or certified mail,
return receipt requested, postage prepaid, or (d) one (1) day after deposit with
a nationally recognized overnight courier, specifying next day delivery, with
written verification of receipt. All communications shall be sent the party's
address set forth in the header of this Letter Agreement or at such other
address as any party may designate by ten (10) days advance written notice to
the other parties hereto.

7. Any term of this Letter Agreement may be amended and the observance of any
term of this Letter Agreement may be waived (either generally or in a particular
instance and either retroactively or prospectively), only with the written
consent of all the parties hereto.

8. This Letter Agreement shall be governed by and construed under the laws of
the State of Delaware, exclusive of the provisions thereof governing conflicts
of laws.
 

      Sincerely,                 IXI MOBILE, Inc.     IXI MOBILE (R&D) Ltd      
  /s/ Lihi Segal     /s/ Lihi Segal

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Name: Lihi Segal    

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Name: Lihi Segal Title: CFO     Title: CFO

 
[Lenders' Signature Page Follows]

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GEMINI ISRAEL III LIMITED PARTNERSHIP,
by its general partner Gemini Capital Associates III L.P.,
by its general partner Gemini Israel Funds Ltd.
   
By: /s/ Yossi Sela                                                  
By: /s/ David Cohen                                         
   
Name: Yossi Sela
Name: David Cohen
   
Title:   Managing Partner
Title:   General Partner, CFO
   
GEMINI ISRAEL III PARALLEL FUND LIMITED PARTNERSHIP,
by its general partner Gemini Capital Associates III, L.P.
by its general partner Gemini Israel Funds Ltd.
   
By: /s/ Yossi Sela                                                  
By: /s/ David Cohen                                         
   
Name: Yossi Sela
Name: David Cohen
   
Title:   Managing Partner
Title:   General Partner, CFO
   
GEMINI ISRAEL III OVERFLOW FUND LIMITED PARTNERSHIP,
by its general partner Gemini Capital Associates III L.P.,
by its general partner Gemini Israel Funds Ltd.
   
By: /s/ Yossi Sela                                                  
By: /s/ David Cohen                                         
   
Name: Yossi Sela
Name: David Cohen
   
Title:   Managing Partner
Title:   General Partner, CFO
   
GEMINI PARTNER INVESTORS LIMITED PARTNERSHIP.
by its general partner Gemini Israel Funds Ltd.
   
By: /s/ Yossi Sela                                                  
By: /s/ David Cohen                                         
   
Name: Yossi Sela
Name: David Cohen
   
Title:   Managing Partner
Title:   General Partner, CFO
   

[Gemini Signature Page to $4M Letter Agreement]

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LANDA VENTURES LTD.

By: /s/ Mimi Sela                                                  

Name: Mimi Sela

Title: CEO, Landa Ventures

 
[Landa Ventures Signature Page to $4M Letter Agreement]

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“SCHEDULE I
SCHEDULE OF LENDERS
 
"Lenders”

Lender
First Tranche Amount to be paid at First Closing Date
 
Second Tranche Amount to be paid at Second Closing Date
 
Gemini Israel III LP
$714,286
 
$714,286
 
Gemini Partners Investors LP
$8,571
 
$8,571
 
Gemini Israel III Parallel Fund LP
 
$130,317
 
 
$130,317
 
Gemini Israel III Overflow Fund LP
 
$146,825
 
 
$146,825
Total Gemini Funds
$1,000,000
 
$1,000,000
Landa Ventures Ltd.
$1,000,000
 
$1,000,000
       
TOTAL
$2,000,000
 
$2,000,000