Document:

EX10.7

 EXHIBIT 10.7  

CAESARSTONE SDOT-YAM LTD. 
 (“the Company”) 
 Date
             
 To 

 

					
	  
	  		  	
	  
	  		  	
	  
	  		  	

 DEED OF RELEASE AND INDEMNITY 

 

			
		
	 WHEREAS
	  	on the              day of              2010, the board of
directors of the Company resolved to approve the Company’s undertaking to release and indemnify officers in the Company, in accordance with the Companies Law, 5759-1999 (hereinafter: “the Companies Law”) and in accordance with the
terms and conditions of the release and indemnity as set forth in this deed; and
		
	 WHEREAS
	  	on the              day of              2010, the general
meeting of the Company also ratified the aforesaid resolution in relation to directors in the Company; and
		
	 WHEREAS
	  	you are employed or were employed and/or are likely to be employed in the Company and/or you serve and/or served and/or are likely to serve as an officer in the Company and/or in
subsidiaries as defined below, and the Company has undertaken to grant a deed of release and indemnity to officers as aforesaid.

 Accordingly the Company confirms and irrevocable undertakes to you, subject to the provisions of any law and the
provisions of this Deed of Indemnity as follows: 
 In this Deed: 

 

			
		
	 “Companies Law” -
	  	the Companies Law, 5759-1999, according to the text thereof from time to time
		
	 “Securities Law” -
	  	Securities Law, 5728-1968 and/or foreign securities laws that may apply to the Company and/or the officers therein and in its subsidiaries, according to the text thereof from time
to time.
		
	 “Officer” -
	  	within the meaning of this term under the Companies Law and regulations made pursuant thereto and/or in any other law which applies to the activities of the Company and the officers
therein, including a director and including any employee and service provider to whom the board of directors of the Company may decide to grant this Deed of Release and Indemnity, who serves and/or served on behalf of the Company in subsidiaries
and/or on their behalf in affiliated companies.

  
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	 “Subsidiary” or “subsidiaries” -
	  	Any body corporate in which the Company holds control, within the meaning of the term “control” in the Securities Law, 5728-1968, and for purposes of this Deed of Release
and Indemnity — any affiliated company, as defined in the Securities Law, of the Company and/or another body corporate and including a private company under its control in which the officers acted as such in the Company and/or in a subsidiary
in an affiliated company of the Company and/or in another body corporate.
		
	 “Affiliated company” -
	  	According to the meaning of this term under the Securities Law and for purposes of this Deed of Release and Indemnity — any other body corporate which is not the Company or a
subsidiary, in which the Company and/or its subsidiary holds rights, directly or indirectly, or is an interested party therein.
		
	 “Act and/or any derivative thereof” -
	  	Any resolution and/or operation, whether by act or omission, including all the resolutions and operations performed or passed by you, and including those the time of which fell
prior to the date your receiving this Deed of Release and Indemnity in periods in which you served as an officer in the Company and/or in subsidiaries as defined above.
		
	 “Securities” -
	  	Within the meaning of this term under Section 1 of the Companies Law.
		
	 “Administrative Proceeding” -
	  	A proceeding pursuant to Chapter H3 (imposition of monetary sanction by the Securities Authority), H4 (imposition of administrative means of enforcement by the administrative
enforcement committee) and I1 (arrangement for avoiding the institution of proceedings or for stay of proceedings, which are contingent on conditions) of the Securities Law, as amended from time to time.

  
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	1.	Release from liability 

  

	    	The Company hereby releases you prospectively and retroactively, and also irrevocably, subject to the provisions of any law and the resolutions mentioned in the
preamble, from any liability, in whole or in part, by virtue of any damage that may be sustained by it and/or and which was sustained by it, directly or indirectly, by virtue of a breach of the duty of care which you owe to it and to its
subsidiaries and affiliates, as defined above, by your acts and/or any derivative thereof, in your capacity as an officer in the Company and/or on behalf of the Company in subsidiaries and/or affiliates as aforesaid. 

 

	    	Nothing contained in this release clause shall derogate from the Company’s undertaking for indemnity as described below. 

 

	    	The aforesaid release from a breach of the duty of care will not apply in any proceeding of “a counterclaim” by the Company against the officer in response to
a lawsuit by the officer against the Company, except in circumstances in which the officer’s lawsuit is for the safeguarding of protective rights under labor laws the source of which lies in the law and/or in a personal employment agreement
between him and the Company. 

  

	2.	Undertaking for indemnity 

  

	 	2.1	Without derogating from the Company’s right to indemnify you retroactively in accordance with what is permitted to it under the Company’s Articles, the
Company hereby irrevocably undertakes to indemnify you in respect of any liability or expenses, as described below, that may be imposed on you or which you may incur due to one or more of the following: 

 

	 	2.1.1	Your acts and/or a derivative thereof in your capacity as an officer in the Company (including an act and/or omission during the period in which you held office, which
was or omitted prior to the date of this Deed of Indemnity); 

  

	 	2.1.2	Your acts and/or a derivative thereof in your capacity as an officer, employee or agent of the Company and/or in subsidiaries and/or in affiliated companies (including
an act and/or omission during the period of your term of office/employment, which was done or omitted prior to the date of this Deed of Indemnity); 

  

	 	2.2	Grounds for indemnity 

  

	 	    	The undertaking for indemnity as stated in Paragraph 2.1 above will apply in respect of any liability or expense that may be imposed on you by virtue of your
holding office in the Company and/or in subsidiaries and affiliates, which is indemnifiable according to any law and in accordance with the Company’s Articles, as described below: 

  
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	 	2.2.1	Pecuniary liability that may be imposed on you in favor of another person pursuant to a judgment, including a judgment given in a compromise or an arbitrator’s
award that was confirmed by a court, provided that such acts relate, directly or indirectly to one or more of the events mentioned in the Schedule to this Deed, including by virtue of acts you performed prior to the grant of this Deed of
Release and Indemnity, which in the opinion of the board of directors of the Company, are foreseeable in light of the Company’s actual activities at the time the undertaking is given, provided that the maximum amount of indemnity in respect of
all liabilities under this paragraph will not exceed the amount or the criterion mentioned in Paragraph 2.3.1 below, which the board of directors of the Company has determined are reasonable in the circumstances of the matter;

  

	 	2.2.2	Reasonable costs of litigation, including attorney’s fees, which you may be incur or be ordered by a court to pay, in a proceeding instituted by the Company or in
its name or by another person, or in a criminal indictment of which you are acquitted, or in a criminal indictment of which you are convicted of an offense that does not require the proof of criminal intent (mens rea); in this paragraph
“other person” — includes a case of a claim instituted against you by way of a derivative claim. 

  

	 	2.2.3	Reasonable costs of litigation, including attorney’s fees, which may be incurred as a result of an investigation or proceeding conducted against you by an
authority competent to conduct an investigation or proceeding, and which culminated without the filing of an indictment against you and without pecuniary liability being imposed on you as an alternative to a criminal proceeding, or which culminated
without the filing of an indictment against you, but with the imposition of pecuniary liability as an alternative to a criminal proceeding on an offense that does not require the proof of criminal intent or in connection with a monetary sanction.

  

	 	2.2.4	A pecuniary liability which may be imposed on you in administrative proceeding as mentioned in Section 52BBB(a)(1)(a) of the Securities Law in respect of payment
to all persons damaged by the breach. 

  

	 	2.2.5	Expenses incurred by you in connection with an administrative proceeding conducted in your case, including reasonable costs of litigation, and including attorney’s
fees. 

  

	 	2.2.6	Liability or other expense which it is permissible to indemnify according to law. 

 

	 	2.2.7	Subject to any law and for the avoidance of doubt, the Company does not release you from liability and will not indemnify you in respect of pecuniary liability that may
be imposed on you in respect of one of the following: 

  
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	 	2.2.7.1	A breach of a fiduciary duty to the Company or to its subsidiaries, unless you acted in good faith and you had reasonable grounds for assuming that the act would not
adversely affect the best interest of the Company and/or its subsidiaries. 

  

	 	2.2.7.2	An intentional, careless breach of a duty of care or a breach committed recklessly without regard to the circumstances of the breach or the consequences thereof, except
if committed solely due to negligence. 

  

	 	2.2.7.3	An act committed with the intention of deriving an unlawful personal gain. 

 

	 	2.2.7.4	A fine, a civil fine, a penalty that may be imposed on you or in respect of a monetary sanction that may be imposed on you. 

 

	 	2.3	Maximum amount of indemnity: 

  

	 	2.3.1	The amount of indemnity the Company will pay to all the officers in aggregate, pursuant to all the deeds of indemnity that may be issued to them by the Company in
accordance with the resolutions mentioned in the preamble to this Deed of Release and Indemnity, in respect of liability as described in Paragraph 2.2.1 above, shall not exceed the higher of the following: (i) in relation to indemnity connected
with an offering to the public of the Company’s securities — the cumulative amount of the proceeds deriving to the Company and/or to a shareholder who sold his shares, in the scope of such public offering; (ii) in relation to
indemnity connected with all types of events, including in connection with an offering to the public of the Company’s securities, the higher of 50% of the Company’s consolidated equity capital as same stands according to the Company’s
audited consolidated annual financial statements which were published to the public prior to payment in respect of the indemnity, and 30 million US dollars (hereinafter: “the Maximum Amount of Indemnity”).

  

	 	2.3.2	It is hereby clarified that payment of the aforesaid indemnity does not affect your rights to receive insurance compensation in respect of the events specified in the
Deed of Indemnity and/or reasonable costs of litigation as aforesaid, that are insured with an insurance company, if you receive same (you or the Company on your behalf) in the scope of insurance of the liability of officers in the Company. In the
case in which you have received indemnity and you will be entitled to receive a reimbursement of indemnity from the insurer under an officer’s insurance policy in respect of the event that is the subject of the indemnity, the indemnity will be
given in respect of the difference between the amount of the pecuniary liability that was imposed on you and/or the legal 

  
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	 	    	expenses you incurred or were ordered to pay, as aforesaid, and the amounts that will be received from the insurer in respect of that matter, provided that the amount
of the indemnity for which the Company will be liable in respect of pecuniary liability as mentioned in Paragraph 2.1 above will not exceed the Maximum Amount of Indemnity pursuant to this Deed of Indemnity. 

 

	 	2.3.3	It is expressly emphasized that the Company’s payments pursuant to this Deed will be “an additional layer” over and above the amount of any insurance
compensation that may be paid by the insurer, to the extent that same is paid. If you bear any insured’s deductible in respect of the events specified in the Schedule to this Deed and/or in respect of expenses for a legal defense, the Company
will indemnify you for the amount of the deductible which you paid. In addition, the Company’s obligation to indemnify you as stated in this Deed in respect of the deductible will not be affected if you are insured other than by the Company,
provided that you will not be indemnified more than once as aforesaid. It is further emphasized that this obligation for indemnity is not a contract in favor of any third party, including any insurer, it is not assignable, and no third party,
including any insurer, will have a right to demand the Company’s contribution to a payment for which an insurer is liable pursuant to an insurance agreement made with it, save and except the deductible specified in such agreement.

  

	 	2.3.4	If and to the extent that the total amounts of indemnity which the Company is called upon to pay to officers therein, as mentioned in Paragraph 2.1 above, should
at any time exceed the Maximum Amount of Indemnity or the balance of the Maximum Amount of Indemnity (as applies for the time being) pursuant to Paragraph 2.3.1 above, the Maximum Amount of Indemnity or the balance thereof will be divided
amongst the officers who will be entitled to indemnity in accordance with the resolutions mentioned in the preamble to this Deed of Release and Indemnity, in respect of demands submitted to the Company in accordance with deeds of release and
indemnity and which have not been paid to them prior to such date (hereinafter: “the Entitled Officers”) in a manner whereby the amount of indemnity each of the Entitled Officers will actually receive will be calculated on a basis
of the ratio between the amount of the indemnifiable liability of each of the Entitled Officers and the amount of indemnifiable liability of all the Entitled Officers in aggregate. 

 

	 	2.3.5	Where the Company has paid amounts of indemnity to officers in the Company in respect of pecuniary liability as referred to in Paragraph 2.1 above to the extent of
the Maximum Amount of Indemnity, the Company will not bear additional amounts of indemnity in respect of pecuniary liability as referred to in Paragraph 2.1 above, unless payment of the additional amounts of indemnity are approved by the organs
of the 

  
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	 	    	Company that are competent to approve such increase according to any law, at the date of payment of the additional amounts of indemnity and subject to an amendment to
the Company’s Articles, if this required for the purpose according to any law. 

  

	 	2.4	Interim payments: 

  

	 	2.4.1	Upon the occurrence of an event in respect of which you are likely to be entitled to indemnity in accordance with the foregoing, the Company will, from time to time,
place at your disposal the moneys required to cover the expenses and the various other payments connected with the handling of any legal proceeding against you that is connected with such event, including investigations proceedings, as well as
mediation or arbitration proceedings, in a manner that you will not be required to pay or finance same yourself, all subject to the terms and conditions of this Deed of Indemnity. 

 

	 	2.4.2	If the Company should pay you or make payment instead of you of any amounts in the scope of this Deed of Indemnity in connection with such legal proceeding, and it
subsequently transpires that you are not entitled to indemnity from the Company for such amount, the provisions of Paragraph 2.11 below will apply. 

  

	 	2.4.3	As part of its obligation, the Company will also provide collateral security that may be demanded and/or guarantees that you will be required to furnish in accordance
with interlocutory decisions of a court and/or of an arbitrator, including for purpose of replacing attachments that have been imposed on your assets, subject to the restriction of the Maximum Amount of Indemnity. 

 

	 	2.4.4	If any approval is required for a payment or for the providing of collateral security and guarantees as aforesaid, and such payment or arrangement is not approved for
any reason, such payment or any part thereof that is not approved as aforesaid, shall be subject to the approval of the court and the Company will take reasonable steps to procure such approval and will bear all the expenses and the reasonable
payments required for the obtaining thereof as aforesaid. 

  

	 	2.5	Conditions of indemnity: 

  

	 	    	Without derogating from the foregoing, the obligation for indemnity under this Deed is subject to the terms and conditions set forth below: 

 

	 	2.5.1	There is no bar or impediment according law to indemnify you. 

  
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	 	2.5.2	If this is permissible according to law, you will notify the Company in writing about any legal proceeding (including, without limitation, a demand of any sort,
including an investigation by a competent authority, legal claim and/or civil claim, including a claim for monetary compensation and/or an application for a declaratory order) that may be commenced against you in connection with any event in respect
of which the indemnity is likely to apply, and about any threat against you that may be delivered to you in writing in the scope of which you are accused of personal responsibility for pecuniary damage (hereinafter: “Legal
Proceeding”), and about circumstances that have been brought to your notice that are likely to lead to a Legal Proceeding being commenced, and you shall do so with due celerity after you first become aware of the fact and at a date that
will leave reasonable time for responding to such proceeding as required according to any law (hereinafter: “the Indemnity Notice”), and you shall deliver to the Company, or to whomever the Company may notify you, every document
connected with such proceeding. 

  

	 	    	The failure to deliver an Indemnity Notice in accordance with the foregoing, will not release the Company from its obligations under this Deed of Release and Indemnity,
except in a case in which failure to deliver such Indemnity Notice materially affects the Company’s rights and its ability to defend in its name (in a case in which it is also sued in such proceeding) and/or in your name against the claim and
to the extent of the aforesaid adverse effect. 

  

	 	2.5.3	For the avoidance of doubt it is clarified that upon the occurrence of an event in respect of which you are likely to be entitled to indemnity, and subject to the
condition that this does not conflict with the terms of the Company’s officers’ insurance policy, you are entitled to enter into an engagement with an attorney of your choice, provided that his identity and the fee arrangement with him
will be subject to the approval of the Company’s board of directors, which will not be unreasonably refused, and to the approval of the insurer under the Company’s officers’ insurance policy. Notice regarding the engagement of an
attorney as stated in this paragraph shall be served on the Company within 14 days from the date on which the necessity for appointing such attorney becomes apparent. If you do not appoint an attorney up to the aforesaid time, the Company will
be entitled to appoint an attorney for you, in its discretion, without derogating from the Company’s obligation for indemnity to you. 

  

	 	2.5.4	If the Company appoints an attorney for you in accordance with the contents of Paragraph 2.5.3 above, and subject to the condition that this does not conflict with
the terms of the Company’s officers’ insurance policy, the Company will be entitled to take over the handling of your defense against such Legal Proceeding, in whole but not in part, and/or to 

  
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	 	    	entrust such handling to any attorney of status whom the Company may select for such purpose (apart from an attorney who is not acceptable to you on reasonable grounds)
on its responsibility and at its expense. The Company and/or such attorney will act in the scope of the aforesaid handling in order to bring the abovementioned Legal Proceeding to an end; the attorney who has been appointed as aforesaid shall act
and shall owe a fiduciary duty to the Company and to you. Where in your opinion or in the opinion of the attorney the fear arises of a conflict of interest, or where in your opinion or in the opinion of the attorney circumstances exist in which a
conflict of interest is likely to arise between you and the Company and/or between you and another officer who is a party to the proceeding, in your defense against such Legal Proceeding and/or if your objection to the attorney the Company has
appointed is based on other reasonable grounds, you shall give notice and/or you will be notified about this by the appointed attorney, as the case may be, in regard to such conflict of interest and you will be entitled to appoint an attorney on
your own behalf to handle your defense (provided that his appointment shall first be approved in writing by the Company) and the provisions of this Deed of Release and Indemnity will apply to the reasonable costs you will have in connection with the
appointment of the attorney and the handling as aforesaid. Notwithstanding the contents of this paragraph, if the directors and officers’ insurance policy in the Company applies to such matter, the officer and the Company shall act in
accordance with the provisions of the policy in all aspects connected with differences of opinion with the insurer regarding the identity of the representing lawyer, if the provisions of the policy necessitates this, in a manner that entrusting the
handling to another representing lawyer will not allow the insurer to be released from its liability under the policy or to reduce same in any way. 

  

	 	2.5.5	Upon your request, the Company and/or the attorney it has chosen for you, will report from time to time (to a reasonable extent and at a reasonable frequency) regarding
the manner of your defense. 

  

	 	2.5.6	The Company will not be entitled to bring the aforesaid Legal Proceeding to an end by way of a compromise and/or settlement and/or compromise agreement and/or
settlement agreement where as a result thereof you will be required to pay amounts for which you will not be indemnified under this Deed of Indemnity and which will also not be fully paid in the scope of the insurance of liability of officer in the
Company that will be purchased, if purchased, by the Company and/or its subsidiary/ies, except with your prior written consent to the compromise that is reached. In addition, the Company will not be entitled to bring the dispute that is the subject
of the aforesaid Legal Proceeding for decision by way of a arbitration or conciliation or mediation, except with your prior written consent thereto, provided that you will not unreasonably withhold your consent to this. For the avoidance of doubt,
even if the dispute in the Legal Proceeding is referred for resolution by way of arbitration or 

  
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	 	conciliation or mediation or in any other way, the Company will bear all the expenses connected therewith in accordance with this Deed of Indemnity, to the extent that
it is liable for this by law in a regular Legal Proceeding. 

  

	 	2.5.7	The Company will be entitled to compromise in regard to pecuniary liability or for the deciding the dispute by way of arbitration or conciliation or mediation in
connection with pecuniary liability only if the claim against you and/or the threat of a claim against you is withdrawn in full. 

  

	 	2.5.8	Notwithstanding the foregoing, the Company will not be entitled to bring the aforesaid Legal Proceeding to an end by way of a compromise and/or settlement and/or to
refer the dispute that is the subject of the aforesaid Legal Proceeding for decision by way of arbitration and/or conciliation or mediation, in cases of criminal charges against you and/or proceedings in which the remedy applied for is not pecuniary
and/or proceedings the consequences of which are likely to damage your good name or the good name or reputation of the shareholder on whose behalf you were appointed, in accordance with the Company’s Articles to your position, unless you give
your prior written notice thereto. You may refuse to give your consent as referred to in this subparagraph in your sole discretion and without being required to give reasons for your disagreement. 

 

	 	2.6	Cooperation with the Company 

  

	 	2.6.1	At the Company’s request, you will sign any document empowering it or any attorney as aforesaid to handle your defense in such Legal Proceeding in your name and to
represent you in all matters connected therewith, in accordance with the foregoing. In addition, at the Company’s request, and to the extent this is permissible according to law, you will immediately deliver to the Company and/or to a third
party in accordance with the Company’s instructions, any document and/or power of attorney that may be requested from you for purposes of handling your defense in accordance with this Deed of Indemnity. 

 

	 	2.6.2	You will cooperate with the Company and/or with any attorney as aforesaid in any reasonable manner that may be requested from you by either of them in the scope of
their handling connected with such Legal Proceeding, provided that the Company will attend to covering all the expenses and the various other payments referred to in Paragraph 2.2 above, which are connected therewith, in a manner that you will
not be required to pay or finance same yourself, and without this derogating from the indemnity promised to you in accordance with the contents of this Deed of Indemnity, and all subject to the contents of this Deed of Indemnity.

  
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	 	2.6.3	In addition, you undertake to comply with all the instructions of the insurers pursuant to any policy for liability of officers which the Company and/or you have
entered into in connection with a defense in the Legal Proceeding, as may be required by any of them in the scope of their handling of the matter connected with such Legal Proceeding. 

 

	 	2.7	Cover of liability 

  

	 	    	Whether or not the Company acts according to what is described in Paragraph 2.5.4 above, it will attend to the cover of all the expenses and the various other
payments mentioned in Paragraph 2.2 above in a manner that you will not be required to pay or finance same yourself, without this derogating from the indemnity promised to you in accordance with the contents of this Deed and/or the insurance
policy the Company may purchase from time to time, if any, and all subject to the contents of this Deed of Indemnity. 

  

	 	2.8	Non-applicability of the indemnity 

  

	 	2.8.1	The Company will be not obliged to indemnify you pursuant to this Deed of Indemnity in respect of an amount that may be paid by you pursuant to the conditions of a
compromise settlement in a Legal Proceeding which you have chosen to conduct yourself, unless the Company has agreed in writing to such compromise or to the holding of such arbitration, as the case may be, but the Company will not unreasonably
withhold such consent by it. 

  

	 	2.8.2	In addition, the indemnity will not apply in the event of your pleading guilty to a criminal charge on an offense that does not require the proof of criminal intent,
unless the Company has received prior written notice of your intention to plead guilty to such offense. 

  

	 	2.8.3	The Company will not be required to pay moneys pursuant to this Deed which were actually paid to you or for you or in your stead in any manner in the scope of insurance
(which the Company purchased) or any undertaking for indemnity of any other person apart from the Company, except an amount that is in excess of the amount that was paid pursuant to the insurance policy and/or the other indemnity agreement. Nothing
in the foregoing in this paragraph shall derogate from your rights in regard to the Company bearing the insured’s deductible specified in the policy and/or the transfer of insurance compensation the Company has received from insurers in respect
of your liability and/or legal expenses that you have incurred. 

  

	 	2.8.4	In addition, if the indemnity pursuant to this Deed is in respect of your holding office in subsidiaries and affiliates, then the indemnity under this Deed will apply
only after the exhausting of all your rights in the framework of an insurance policy effected by the relevant subsidiary and/or affiliated company and/or pursuant to an advance undertaking for 

  
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	 	    	indemnity or pursuant to a permit for indemnity in the subsidiaries and affiliates, if and to the extent that same exist. 

 

	 	    	For the avoidance of doubt it is clarified that the amount of indemnity pursuant to this Deed will apply over and above (and in addition to) the amount that will be
paid (if and to the extent that it is paid) in the scope of insurance the subsidiary has effected and/or an indemnity that has been given by such subsidiary. 

 

	 	    	If your request to receive indemnity and/or insurance cover in respect of an act you performed in your capacity in the subsidiary and which is likely to be
indemnifiable under this Deed of Indemnity, is rejected by the subsidiary or the insurance company of the subsidiary and/or the affiliate, as the case may be, the Company will make payment to you in accordance with this Deed of Indemnity of amounts
to which you will be entitled in accordance with this Deed of Indemnity, if you are entitled to such amounts, and you undertake that you will assign in favor of the Company your rights to receive amounts from the subsidiary and/or the affiliate
and/or pursuant to the insurance policy of the subsidiary and/or the affiliate, and you will authorize the Company to collect these amounts in your name, to the extent that such authorization is required for the fulfillment of the provisions of this
paragraph. In this regard you undertake to sign any document that may be required by the Company for purposes of the assignment of your aforesaid rights and the authorization to the Company to collect the aforesaid amounts in your name.

  

	 	    	For the avoidance of doubt it is clarified that nothing contained in this Deed of Indemnity shall confer on the subsidiary and/or on any other third party any rights as
against the Company, including, but without derogating from the generality of the foregoing, a right to claim and/or demand any payment from the Company as a contribution towards indemnity and/or as a contribution towards insurance cover that may be
given to you by the subsidiary in respect of an act you performed in the capacity of your function in the subsidiary. 

  

	 	2.9	Payment of the indemnity  

  

	    	Upon your request for making payment in connection with any event under this Deed, the Company will perform all the operations required according to law for the payment
thereof, and will act for arranging any approval that may be required in connection therewith, if required. If any such approval is required for the aforesaid payment, and such payment is not approved in accordance therewith for any reason, such
payment, or any part thereof that is not approved as aforesaid, will be subject to the approval of the court and the Company will take steps to obtain it. 

  
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	 	2.10	Period of indemnity and release 

  

	 	    	The release and the Company’s obligations pursuant to this Deed will remain available to you and/or to your estate and/or for the benefit of alternate directors
who were duly appointed by you, without limitation of time, and even after termination of your employment in the Company and/or your serving as an officer in the Company and/or your serving as an officer in subsidiaries and/or affiliates, as the
case may be, provided that the acts in respect of which the release or the undertaking for indemnity are given were performed during the period of your employment in the Company and/or the period in which you served as an officer in the Company
and/or in subsidiaries of the Company, and without being dependent on the date of discovery of the event in respect of which you are entitled to a release and/or to indemnity under this Deed of Indemnity. 

 

	 	2.11	Refunding of amounts of indemnity that have been paid 

  

	 	    	If the Company should pay you or on your behalf any amounts in the scope of this Deed in connection with a Legal Proceeding as aforesaid, including by way of providing
the legal representation as aforesaid, and thereafter it becomes apparent that you are not entitled to indemnity from the Company for such amounts, these amounts will be deemed to be a loan that was given to you by the Company, plus interest at the
minimum rate that will be specified from time to time according to law as not constituting a benefit liable for tax in the hands of the recipient of the loan, and you will be obliged to repay these amounts to the Company when called upon in writing
by it to do so, and according to a schedule of payments the Company will prescribe. 

  

	3.	Insurance  

  

	 	3.1	The Company will cause a situation, to the extent that the insurance market allows this, that you will be insured in the scope of a directors and officers liability
policy, with one of the leading insurance companies in Israel or abroad, in the Company’s discretion and in accordance with the provisions of the law. 

 

	 	3.2	The aforesaid insurance shall provide you with cover during the entire period you serve as an officer and also after you cease to serve as an officer, as described in
Paragraph 3.3 below. The insurance cover will apply to any act or omission against which it is customary to insure officers under normal conditions of insurance as applicable at that time, amongst the leading companies in the national economy
and within the framework of the law, whether such acts or omissions were performed or occurred in Israel or abroad, and whether the claim was instituted or is conducted in Israel or abroad. 

 

	 	3.3	The Company undertakes to do its best in order to maintain the validity of the insurance in limits of liability appropriate to the case and for an insurance period
throughout the entire period in which you hold office and also for a 

  
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	 	    	period of 7 years from the date of cessation of your holding of office, and to renew the insurance policies on due date and to bear all the premium expenses and
any other ancillary or related expense. 

  

	 	3.4	The Company’s undertaking pursuant to Paragraphs 3.1, 3.2 and 3.3 above is contingent upon the approval of the shareholders of the Company, as required from time
to time according to law. 

  

	 	3.5	It is hereby clarified that you are obliged to cooperate with the insurance company, to disclose any information that may be required and to comply with all the
provisions of the policy in connection with defending of claims. 

  

	4.	Miscellaneous  

  

	 	4.1	The Company undertakes to notify you, as soon as possible, about any event in respect of which the indemnity is likely to apply. 

 

	 	4.2	In this Deed of Indemnity, including the Schedule to this Deed of Indemnity, everything appearing in the masculine gender shall also include the feminine.

  

	 	4.3	The terms and expressions in this Deed of Indemnity shall be interpreted in accordance with Companies Law, and, where there is no definition in the Companies Law,
according to the Securities Law, 5728-1968. The Schedule to this Deed of Indemnity constitutes an integral part hereof. 

  

	 	4.4	The Company’s obligations under this Deed shall be interpreted broadly and in a manner intended for the fulfillment thereof, to the extent permitted according to
law, for the goal for which same were intended. If it should be held that any of the provisions of this Deed of Release and Indemnity are unenforceable and/or invalid for any reason and/or in a case of a conflict between any provision in this Deed
and a legal provision that cannot be stipulated upon or altered or added to, the aforesaid legal provision shall prevail, but this shall not have the effect of prejudicing or derogating from the force and validity of the remaining provisions of this
Deed. 

  

	 	4.5	This Deed of Release and Indemnity will come into force upon your signing a copy hereof at the place designated for the purpose and delivery of the signed copy to the
Company. It is hereby agreed that if you received a previous undertaking from the Company for release and indemnity, your agreement to accept this Deed of Release and Indemnity constitutes your irrevocable agreement and consent to the cancellation
of the previous undertaking. 

  

	 	4.6	The Company will be entitled, in its sole discretion and at any time, to cancel its undertaking for indemnity and release pursuant to this Deed, or to decrease the
Maximum Amount of Indemnity in accordance herewith, or to reduce the events to which it applies, whether in relation to all the officers or in relation to some of them to the extent that it relates to events that will occur after the date

  
 14 

	 	    	of the change — provided that the officer has been given prior written notice of such intention at least 60 days before the date on which the resolution will
come into force. For the avoidance of any doubt, it is hereby clarified that any resolution as aforesaid, which has the effect of worsening the terms and conditions of this Deed or of revoking it, will be of no retroactive applicability of any sort,
and the Deed of Indemnity prior to the changes therein or the cancellation thereof, as the case may be, will continue to be of force and validity in all respects in relation to any event which occurred prior to the alteration or the cancellation,
even if the proceeding in respect thereof was instituted against the officer after the alteration or cancellation of the Deed of Indemnity. 

  

	 	4.7	In every other case, this Deed of Release and Indemnity may not be changed or altered, except [by a document] signed by the Company and by you.

  

	 	4.8	This Deed of Indemnity does not derogate from the Company’s right to decide on retroactive indemnity in accordance with the provisions of any law, and the
undertaking to indemnify you in accordance with this Deed does not derogate from the release granted to you by the Company in accordance with the foregoing. 

 

	 	4.9	For the avoidance of doubt it is hereby specified that this Deed of Release and Indemnity does not constitute a contract in favor of a third party and it is not
assignable. For the avoidance of doubt, in the case of death (G-d forbid), this Deed of Release and Indemnity will apply to you, your successors-in-title according to the provisions of any law, including to your estate. 

 

	 	4.10	No waiver, procrastination, failure to take action or grant of an extension of time by the Company or by you will in any circumstances be construed as a waiver and will
not affect the rights and obligations of the parties under this Deed of Release and Indemnity and/or according to any law, and will not prevent any such party from taking all the legal and other steps that are required for realizing the rights of
such party as aforesaid. 

  

	 	4.11	The law which shall govern this Deed of Indemnity is the Israeli law, and the competent court in Tel Aviv will have sole jurisdiction to adjudicate on disputes arising
from the implementation of this Deed of Release and Indemnity. 

  

	 	4.12	This Deed constitutes sole and fully exhaustive consent to all the terms and conditions and provisions that apply to the contractual arrangement between the Company and
the officer in relation to the matters dealt with herein. This document supersedes any agreement, declaration, accord and understanding made, if made, between the Company and the officer on the matters mentioned in this Deed, whether verbal or in
writing, prior to this Deed being signed. 

  
 15 

	 	4.13	The parties to this Deed declare that they have carefully read this Deed of Release and Indemnity and they are signing it of their own free will and volition having
understood the contents hereof. 

 In witness whereof the Company has hereunto signed, through its authorized
signatories who have been duly appointed. 
  

					
		  		  	  

		  		  	The Company

 I confirm receipt of this Deed and confirm my consent to all the terms and conditions hereof. 

 

					
		  		  	  

		  		  	Signature of officer

 Date:
                             

  
 16 

 SCHEDULE 
 Subject to the provisions of the law, the following are the events which are determining for purposes of Paragraph 2.2.1: 

 

	1.	The issue of securities (including an issue of securities that does not come to actual fruition) in Israel and abroad, including and without derogating from the
generality of the foregoing, an offer of securities to the public pursuant to a prospectus, a private placement, sale offer, issue of bonus shares or offer of securities in any other way, including, but without limitation, a prospectus for an
initial public offering on the NASDAQ exchange, which the Company intends publishing in 2011. 

  

	2.	Implementing of a tender offer and/or a sale offer and any proceeding, opinion, document and/or report in connection therewith. 

 

	3.	An event arising from the fact of the Company being a public company or arising from the fact that its shares were offered to the public or arising from the fact that
the shares of the Company are traded on a stock exchange in Israel or abroad. 

  

	4.	A transaction or operation within the meaning thereof under Section 1 of the Companies Law, whether in the ordinary course of the Company’s business or not in
the ordinary course of business of the Company and/or a subsidiary of the Company, including a transaction with an interested party, negotiations for entering into a transaction or operation, transfer, sale, leasehold, letting, purchase or pledge of
assets or liabilities (including securities), or the grant or receipt of a right in respect of any of them, receiving and granting credit and the giving or receiving of collateral security, including contracting under finance agreements with banks
and/or other financial entities for purposes of financing transactions or contractual arrangements that are implemented, and any act or exercise of discretion directly or indirectly connected with such transaction or operation, whether such
transactions and/or operations are closed and completed or are not closed and completed for any reason. 

  

	5.	Any act of an officer in the Company and/or in its subsidiaries in the fields of transactions which it implements, including related services, investment in companies
in branches that are close or allied to the activities of the Company and the remaining activities of the Company and the integrated corporations that are permissible or will be permissible for them according to law. 

 

	6.	A report or notice lodged according to the Companies Law or the Securities Law, including regulations made pursuant thereto, or according to rules or directives
currently applied by on a Stock Exchange in Israel or abroad, or according to a law of another country which regulates similar matters and/or the failure to submit such report or notice. 

 

	7.	Deliberation on and passing of resolutions and giving a report and disclosure in the Company’s reports, including the giving of an assessment regarding the
effectiveness of the internal audit and additional matters included in the report of the board of directors of the Company, and the making of declarations and relating to the financial statements. 

	8.	Preparation and signing of the financial statements of the Company and the subsidiaries, consolidated or separate, as the case may be, and the approval thereof, as well
as in connection with business plans or forecasts. 

  

	9.	Any act or a derivative thereof connected with the adopting of financial reporting according to international financial reporting standards (IFRS) and accepted
accounting principles in the USA (US GAAP) or any financial reporting standards practiced by the Company or its subsidiaries. 

  

	10.	Any act and/or resolution regarding a distribution, as defined in the Companies Law, including a distribution with the approval of a court, including the purchase of
the Company’s shares, provided that the indemnity in respect of such act is permissible according to law, and also any claim or demand in connection with a distribution of dividends to the shareholders of the Company. 

 

	11.	A change in the structure of the Company, or its reorganization, or any resolution pertaining thereto, including, but without derogating from the generality of the
foregoing, a merger, split, alteration of the Company’s capital, establishment of subsidiaries, dissolution and sale thereof, allotment or distribution. 

 

	12.	Amendments, alterations and formulation of arrangements between the Company and the shareholders, debenture holders, banks and/or creditors of the Company or of
companies held by it, including amendments to deeds of trust and to debentures and the draft and settlement documents in their entirety. 

  

	13.	Acts and their derivatives connected with the issue of licenses, building permits or approvals, including approvals and/or exemptions in regard to restraint of trade.

  

	14.	Any claim or demand in connection with the activities of the Company and its subsidiaries, their businesses, contractual engagements, its structure and so forth,
including an operation or a resolution on subjects related, directly or directly, to restraint of trade, including restrictive arrangements, mergers and monopolies. 

 

	15.	Participation in tenders and/or the holding of tenders. 

  

	16.	A remark, statement including an expression of view or opinion made in good faith by the officer in the course of his function and by virtue of his function, including
in negotiations and contractual arrangements with suppliers or customers, and including in the scope of meetings of management, the board of directors or any of its committees. 

 

	17.	An act or a derivative thereof that is contrary to the Company’s Articles or Memorandum. 

 

	18.	An act or a derivative thereof or a resolution in connection with an employer-employee relationship, including negotiations, contractual arrangements and implementation
of personal employment agreements or collective labor agreements, promotion and advancement of employees, benefits to employees, including the handling of arrangements for pensions, provident funds, retirement or savings funds, loans to employees
and the allotment of securities to employees. 

  
 2 

	19.	An act or a derivative thereof or a resolution pertaining to safety and hygiene at work, whether it is alleged that same caused bodily damage or caused damage to
property, an act or a derivative thereof or a resolution relating to conditions of employment, including conditions of employment at the Company’s various sites (including everything connected with the equipment at the disposal of the employees
and the tasks assigned to them, and in particular in relation, directly and/or indirectly, to allegations connected with exposure to silica). 

  

	20.	Any claim or demand made by a third party suffering from physical injury and/or physical damage or damage to a business or personal asset, including loss of use thereof
in the course of an act or omission attributed to the Company, or to its employees, agents or other persons, respectively, who act or purport to act on behalf of the Company. 

 

	21.	Any claim or demand made or instituted by purchasers, owners, lessors, lessees or other occupiers of properties of the Company, in respect of damage or loss connected
with the use of the aforesaid assets or properties. 

  

	22.	Any act or failure in the effecting of insurance arrangements and/or in risk management, including any claim or demand connected with an alleged act or omission which
caused the failure to effect proper insurance arrangements and also any matter connected with negotiations relating to insurance agreements, entering into insurance agreements, terms and conditions of the insurance policies and the activation of
insurance policies. 

  

	23.	The formulation of work plans, including costing, marketing, distribution, directives or lack of directives to employees, customers, distributors, processors, end users
of the Company’s products and to suppliers, and cooperation with competitors or with any third parties. 

  

	24.	Resolutions or acts or derivatives thereof pertaining to the environment, including to hazardous substances, and a claim or demand connected with circumstances that
prima facie give rise to any sort of violation of the environmental laws, regulations, environmental licenses, permits, or additional approvals required according to the environmental laws, including and/or which cause environmental
disturbance, including noise. 

  

	25.	Resolutions and/or acts or derivatives thereof pertaining to the Consumer Protection Law, 5741-1981 and/or orders and/or regulations pursuant thereto, as well as any
other law having a consumer character, and secondary legislation that may apply by virtue thereof, whether existing at the time of the grant of this Deed of Release and Indemnity, or in the future, and/or under any foreign law in this field.

  

	26.	An act and/or any derivative thereof relating to negotiations, closing and implementation of contracts of whatsoever nature with suppliers, distributors, agents,
franchisees and so forth of the products that are marketed and/or sold by the Company or which are used by it. 

  

	27.	Negotiations, closing and implementation of agreements with manpower contractors, services contractors, building contractors, renovations contractors, etc.

  
 3 

	28.	Any administrative, public, judicial act, orders, judgments, claims, demands, letters of demand, directives, arguments, investigations, proceedings or notices regarding
a lack of compliance or a breach of an act of an administrative authority or other body, in Israel or abroad, alleging the non-fulfillment of provisions of a law, regulation, order, ordinance, rule, custom, instruction, licensing, directive, policy
and/or judgment by the Company and/or the officers in the Company in the scope of their functions in the Company. 

  

	29.	The giving of information, representations, opinions, a report, notice and lodging of an application with authorities of the State and other authorities, including any
authority that is competent according to any law in Israel or abroad and including, but without derogating from the generality of the foregoing, the Companies Law, including regulations made pursuant thereto, or according to the provisions of the
tax laws which apply to the Company, and the documentation required according to any law. 

  

	30.	An infringement that has been committed or has been alleged to have been committed or abuse of intellectual property rights of a third party including, but without
limitation, patents, designs, trademarks, copyrights, etc. 

  

	31.	Acts or derivatives thereof that are connected with the Company’s intellectual property and the protection thereof, including registration or enforcement of
intellectual property rights and the defending of claims in relation thereto. 

  

	32.	The management of the Company’s investment portfolio and the maintaining of the bank accounts in which the Company operates at banks and the execution of
operations or their derivatives, including everything pertaining to transactions in foreign currency (including deposits in foreign currency), securities (including a buyback transaction of securities and the loaning and borrowing of securities),
loans and credit frameworks, charge cards, bank guarantees, letters of credit, investment counseling agreements, including with portfolio managers, hedging transactions, options, futures contracts, derivatives, swap transactions, and so forth.

  

	33.	The realizing of a personal guarantee given by the officer to the Company, as security for the obligations and/or declarations of the Company. 

 

	34.	The failure to conduct full and proper due diligence processes in relation to the Company’s investments, which led to a loss of the investments, in whole or in
part, and/or to damage to the business of the Company and/or to the breach of an undertaking to a third party. 

  

	35.	Events and acts or derivatives thereof in connection with investments which the Company makes in various corporations, before or after the making of the investment,
including for purposes of entering into a transaction, the implementation thereof, development thereof, monitoring and supervision over it. 

  

	36.	Pecuniary liability imposed on an officer in respect of acts in which he took part on behalf of the Company, vis-à-vis various State institutions.

  
 4 

	37.	Pecuniary liability imposed on the officer in respect of a claim of third parties against the officer in respect of deficient or misleading disclosure, verbally or in
writing, to existing and/or potential investors in the Company, including in the case of a merger of the Company with another company. 

  

	38.	A claim or demand in connection with matters requiring disclosure in a prospectus, including in any draft thereof and where disclosure as required under any law was not
given. 

  

	39.	Any claim and/or demand in relation to non-disclosure or failure to supply any sort of information at the time required according to law and/or in connection with a
misleading or faulty disclosure of such information, to third parties, and included in this to the holders of the Company’s securities and/or potential holders of securities, including in regard to a public offering, allotment, distribution,
purchase, holding and/or connection with securities of the Company and/or any other investment activity involving and/or affecting the Company’s securities. 

 

	40.	Any claim and/or demand in relation to non-disclosure or a failure to provide any type of information within the time required according to law and/or in connection
with misleading and/or faulty disclosure of such information, to third parties and including Income Tax, Value Added Tax, National Insurance, the Investment Center, the Ministry for the Environment, local authorities and any governmental,
institutional entity and/or trade union and/or otherwise. 

  

	41.	Non-compliance with the requirements of any law, including in connection with the supply and distribution of products (including failure to meet relevant standards,
failure to give warnings as required, as forth), for the manufacture, development thereof, for contractual arrangements with third parties, restraints of trade. 

 

	42.	Credit risks. 

  

	43.	A breach of the provisions of any agreement to which the Company is a party, whether actually committed or alleged to have been committed. 

 

	44.	An act or a derivative thereof relating to a tax liability of the Company and/or a subsidiary and/or the shareholders of any of them. 

 

	45.	Any claim and/or demand that is made directly or indirectly in connection with a default, in whole or in part, by the Company and/or by the officers, the managers and
the employees of the Company, with regard to a payment, reporting thereof and/or documenting of documents, by one of the State authorities, a foreign authority, a municipal authority and/or any other payment required according to the laws of the
State of Israel, including payments of Income Tax, Sales Tax, Land Appreciation Tax, transfer taxes, excise tax, Value Added Tax, stamp duty, customs duties, National Insurance, salaries and/or a withholding of salary for employees and/or other
withholdings, including any type of interest and increments in respect of linkage. 

  

	46.	Events that have affected or are likely to have a material impact on the profits of the Company or its property or its rights or its obligations.

  
 5 

	47.	Any act connected with voting in the held companies. 

  

	48.	Any claim and/or demand instituted by a lender or creditor or anyone alleging to be a lender or creditor, in regard to moneys that were lent by them and/or the
Company’s debts to them. 

  

	49.	Each of the events mentioned above in connection with the officer serving on behalf of the Company as an officer in the subsidiaries and/or affiliated companies, and in
relation to any country in the world. 

  

	    	Every provision in this Schedule above which relates to the performance of a particular act shall be interpreted as also relating to the non-performance and/or the
failure to perform such act, unless the context of the particular provision does not allow for such interpretation. 

  

	50.	Any event and/or operation which is indemnifiable pursuant to the Law for Efficiency of Enforcement Proceedings in the Securities Authority (Amendments to Legislation),
5771-2011. 

 * * * 

  
 6EX10.8

 EXHIBIT 10.8  

LAND USE AGREEMENT  
 made and entered into at Kibbutz Sdot Yam on the 20th day of July 2011 
  

			
	 Between:
	  	CAESARSTONE SDOT YAM LTD.
		  	 Pvte. Co. 51-143950
 of
Kibbutz Sdot Yam

		  	(hereinafter: “the Company”)
		  	of the one part;
		
	 And:
	  	SDOT YAM COOPERATIVE AGRICULTURAL SOCIETY LTD.
		  	 Pvte. Co. 57-0003509
 of
Kibbutz Sdot Yam

		  	(hereinafter: “the Kibbutz”)
		  	of the other part;

  

			
	 WHEREAS
	  	The Kibbutz owns the rights in the Land (as defined below); and
		
	 WHEREAS
	  	The Company conducts its business and operates a plant which is located on the Land (including storage areas); and
		
	 WHEREAS
	  	The Company wishes to receive permission from the Kibbutz to use the Land for the period and on the conditions as set forth in this Agreement, and the Kibbutz agrees to grant the
Company a license to use the Land as aforesaid, all subject to the terms and conditions of this Agreement;

 Now therefore it is declared and agreed by the parties as follows:  

 

	1.	Preamble, appendices and definitions 

  

	 	1.1	The preamble to this Agreement and the appendices hereto constitute an integral part hereof. 

 

	 	1.2	Headings to clauses in this Agreement are solely for the ease of reading and no significance shall be accorded to them in the interpretation of this Agreement or any of
the provisions hereof. 

  

	 	1.3	In this Agreement the following terms will have the meaning opposite them, unless otherwise expressly stated. 

 

	 	1.3.1	“The Buildings” — the Buildings which stand on the Land and constitute the Company’s plant and the installations thereof (including storage
areas and offices), in accordance with the drawing attached to this Agreement as Appendix A. 

  

	 	1.3.2	“The index” — the Consumer Price Index, including fruit and vegetables, which is published by the Central Bureau of Statistics and/or any other
index that may be specified by the Central Bureau of Statistics and may come in its stead and/or replace it. 

  

	 	1.3.3	“Purpose of the license” — the operation of the plant including everything connected therewith and required for the purpose, at present and in the
future, in the Company’s discretion, for purposes of operating the plant, activities of the Company’s head office, the storage of raw materials and finished products and for offices, in accordance with the various types of uses in the
division into areas and the existing buildings at the date of signing of this Agreement as described in Paragraph 5.2 of the appraisal attached to this Agreement as Appendix B and the drawing attached to this Agreement as
Appendix A and the uses that will be possible by virtue of additional construction, if and to the extent that additional construction is performed in accordance with the provisions of Clause 7 of this Agreement.

  

	 	1.3.4	“The plant” — the Company’s plant which at present engages in the development, manufacture, distribution and marketing of quartz surfaces;
semi-precious stones and additional associated products, whether produced at present or as will be produced by the Company in the future. 

  

	 	1.3.5	“The Land” or “the License Areas” — areas possessing different features and uses, as described in the appraisal attached to this
Agreement as Appendix B and as marked on the drawing attached to this Agreement as Appendix A, including the Buildings and everything else built thereon and permanently affixed thereto at the date of signing of
this Agreement. 

  

	 	1.3.6	“Later Projects” — (a) the construction that was performed by the Company for enlarging the plant in a westerly direction for the benefit of
the MBD project (“MBD”), (b) the establishment of a silos farm and the establishment of polyester still containment pallets (“Silos and Still Containment Pallets”), and (c) the establishment of a hothouse
in the eastern area (“Hothouse”). 

  

	2.	Condition precedent 

  

	 	2.1	It is agreed between the parties that this Agreement is subject to the closing and completion of the public offering, as this term is defined below and will come into
force only at the date of the closing and completion of the public offering, which will be deemed below: “Date of Fulfillment of the Condition Precedent”) 

 

	 	2.2	For the removal of doubt, it is clarified that until the time at which the Condition Precedent is fulfilled, this Agreement will be of no validity. If the Condition
Precedent is not fulfilled on or before December 31, 2011, this Agreement will be deemed to be null and void in all respects as if it had never been signed. 

 

	 	2.3	“Completion of the public offering” for purposes of this Agreement will be deemed to be the date on which the Seller receives the first moneys that
will be raised by it in an initial public offering of the Seller’s shares on a stock exchange in the USA (NASDAQ or NYSE). 

  

	3.	The license 

  

	 	3.1	Subject to all the terms and conditions of this Agreement, the Kibbutz hereby permits the Company to make use of the License Areas, including the Buildings, with the
status of a licensee, during the license period and solely for the purpose of the license. 

  
 2 

	 	3.2	The Company undertakes not to use and not to allow the use of the License Areas (including the Buildings) or any part thereof, for any other purpose apart from the
purpose of the license, except with the prior written consent of the Kibbutz. Included in this and without derogating from the generality of the foregoing, the Company undertakes not to alter the use made at the date of signing of this Agreement of
any of the Buildings and/or the License Areas, unless such alteration is made in accordance with the planning and building laws, the leasehold agreements between the Kibbutz and the Israel Lands Administration and the Caesarea Development
Corporation and the outline plans which apply to the Land. 

  

	 	3.3	Nothing contained in this Agreement shall be construed as creating a lease relationship between the parties, whether protected tenancy or unprotected tenancy. The
Company’s rights pursuant to this Agreement in the License Areas (including the Buildings) are temporary rights of use only (during the license period as defined below), as described in this Agreement. 

 

	 	3.4	 Without prejudice to the foregoing, for the removal of doubt it is clarified by the Kibbutz that the Land is an area which was vacated after 26th Av 5728 (August 20, 1968) of any tenant entitled to occupy it,
and has not been leased under key money. 

 The licensee (including the Company) and/or a lessee have also not
paid and will not pay the Kibbutz key money or any other payment likely to be construed as key money, including, and without derogating from the generality of the foregoing, in respect of works, alterations, improvements and/or enhancements which
have been made or which may be made on the Land and in the Buildings prior to the License Period and/or during the course thereof. 
 The license to use which is granted under this Agreement shall not be protected by the Tenants Protection Law (Consolidated Version), 5732-1973 or pursuant to the remaining tenants protection laws and
regulations and the aforesaid laws and regulations will not apply to the license, to the Company, to the Land and the Buildings and to this Agreement. 
  

	 	3.5	The Kibbutz will be solely responsible for compliance with all the provisions of the planning and building laws in the License Areas and for the purpose of the license,
except in relation to the Later Projects. Likewise, the Kibbutz will be responsible for arranging and regulating all the rights, the licenses and the permits for the Company’s use of the License Areas for the purpose of the license, and
included in this it will be responsible for the payments that will be demanded for such arrangement and regulation (including, without limitation, a betterment levy) and including all fines that may apply (apart from fines that may apply in relation
to the Later Projects), if and to the extent that same apply, if any of the aforesaid rights, licenses and/or permits have not been arranged. 

 Without derogating from the generality of the foregoing, the Company hereby expressly and irrevocably waives in advance any monetary demand and/or claim (including, without limitation, compensation and
indemnity for any pecuniary damage suffered by it) which it had and/or which it has and/or which it may have, to the extent that it had and/or has and/or will have such demand and/or claim 

  
 3 

 
against the Kibbutz, all in relation to any obstacle it may have in connection with use of the License Areas or any of them, during the entire License Period and subsequent thereto, as a result
of the absence of any permit, license or right to make use of the License Areas (including the Buildings) for the purpose of the License. 
  

	 	3.6	Without derogating from the foregoing, the Company hereby expressly and irrevocably waives in advance any allegation and/or demand which it had and/or has and/or may
have, to the extent that it had and/or has and/or may have same, throughout the entire License Period and subsequent thereto, in relation to any defect and/or blemish and/or non-conformity in the License Areas and/or the Buildings, except a latent
defect and/or latent non-conformity. Nothing contained in this clause shall derogate from any allegation or demand of the Company, past, present and future, in connection with the obligations of the Kibbutz to it in relation to the License Areas
and/or in connection with any other agreement between it and the Kibbutz. 

  

	4.	The License Period and the scope and extent of the License Areas 

 

	 	4.1	 The License Period pursuant to the provisions of this Agreement is for a period of 20 (twenty) years, commencing from the 1st of the month following the Date of Fulfillment of the Condition
Precedent (“the License Period”). 

  

	 	4.2	The License Areas will be fixed throughout the entire License Period and the Company will not be entitled to reduce same and/or to return any areas to the Kibbutz. The
Company will be obliged to pay the full user fees as stated in this Agreement, for the full License Areas, even in a situation in which — for any reason whatsoever — it does not make any use of the areas of the License Period.

 However it is agreed that the foregoing in this sub-clause will not apply to Area E (as described in
Appendix A) in respect of which each of the two parties may cancel the license (or with respect to any part thereof) by way of prior written notice of one year. If the license is cancelled in respect of Area E (in relation to any
part thereof) as aforesaid, the provisions of Clause 10 below shall apply, mutatis mutandis, to the area in relation to which the license has been cancelled. In addition, in the event that the license has been cancelled in relation to the
aforesaid Area E (or any part thereof) — the User Fees which the Company will pay the Kibbutz will be reduced by an amount of NIS 3 per month for every sq.m. of Area E which is actually returned to the Kibbutz, commencing from the date the
area is actually returned to the Kibbutz. 
  

	 	4.3	 The Company undertakes not to assign and/or transfer its rights in the License Areas pursuant to this Agreement, or any portion thereof, in whole or in
part, to another or to others, in any manner whatsoever; and not to make over and/or transfer and/or allow any use of any sort in the License Areas or in any part thereof (including the Buildings), to another or to others, in any manner whatsoever,
including as a licensee, whether for consideration or otherwise — except in the manner stated in Clause 4.5 below. Notwithstanding the foregoing, the Company will be entitled to assign all its rights and obligations under this Agreement as a
consequence of a merger of the Company with a third party (to that party into which it is merged) and/or a sale of most or all its assets (to that party to whom the assets are sold) — without the necessity for obtaining approval from the
Kibbutz, 

  
 4 

	 	
subject to the condition that any such assignment will be conditional upon the assignee undertaking in writing to assume all the Company’s obligations under this Agreement. In addition,
notwithstanding the foregoing, it is agreed that the grant of a license to use the License Areas or any part thereof (including the Buildings), to corporations under the control of the Company and/or which control the Company and/or which are
controlled by the controlling shareholders in the Company (“Permitted Transferee”) will not require the Kibbutz’s approval, on condition that the Permitted Transferee has delivered a deed of undertaking to the Kibbutz in which
it undertakes to fulfill all the obligations imposed on the Company pursuant to this Agreement, without this prejudicing the force and validity of the Company’s obligations to the Kibbutz (including payment of the user fees as stated in this
Agreement) which shall remain in force, jointly and severally with the obligations of the Permitted Transferee as aforesaid. 

  

	 	4.4	The Company hereby further undertakes not to encumber and/or pledge its rights, in whole or in part, and/or to grant any other right to any third party in the License
Areas, or in any part thereof, to another or to others, in any manner whatsoever, unless it has received the prior written consent thereto of the Kibbutz. Nothing contained in this clause shall derogate from the provisions of Clause 4.3 above.

  

	 	4.5	Without derogating from the contents of Clauses 4.1 to 4.3 above and notwithstanding the contents of Clause 4.2, the Company will be entitled to refer to the Kibbutz in
writing at any time with an application to return any areas forming part of the License Areas to the Kibbutz, coupled with mentioning the time at which the Company wishes to return such areas to the Kibbutz. The Kibbutz will be given a period of
three months from the date of the Company’s referral in which to consider the application — and to give notice whether or not it agrees thereto, all in its full and sole discretion and without there being any obligation upon it to give
reasons for its decision. 

 Should the Kibbutz decide within three months not to accede to such application by the
Company for the return of areas forming part of the License Areas, or not to take any decision in relation to such application by the Company within three months, the Company will be entitled to look for another entity for the aforesaid area it
offered to return to the Kibbutz, where the identity of such other entity shall be agreed by the Kibbutz and approved expressly and in writing, and to allow it the status of a sub-licensee in the aforesaid area — provided that the Company shall
continue to be liable for all its obligations to the Kibbutz under this Agreement in respect of the aforesaid area (including and without derogating from the generality of the foregoing, full payment of the amounts it is obliged to pay the Kibbutz
under this Agreement in connection with that area). Should the Kibbutz decide to accede to the Company’s aforesaid application, the license in respect of that area in relation to which the Company requested to cancel the license will be
cancelled at the time specified in the Company’s application, and the provisions of Clause 10 below shall apply, mutatis mutandis, to the area in relation to which the license was cancelled. 

 

	 	4.6	In a case in which the Company requests the Kibbutz to place additional areas at its disposal — the Kibbutz will consider doing so (including the price asked for
such additional areas and all the remaining conditions for placing same at the disposal of the Company). 

  
 5 

	5.	User fees 

  

	 	5.1	The Company undertakes to pay the Kibbutz for the use of the License Areas during the License Period, user fees as specified below, together with V.A.T. as prescribed
by law according to the rate thereof at the time each payment is made, (“the User Fees”). 

  

	 	5.1.1	In respect of each month of the year 2011 that is included in the License Period — a sum of NIS 900,000 [nine hundred thousand] per month (which is NIS 10,800,000
[ten million eight hundred thousand] on an annual calculation). For the removal of doubt it is clarified that the aforesaid amounts with respect to the 2011 year will not bear linkage differentials to the index. 

 

	 	5.1.2	In respect of the 2012 year — a sum of NIS 1,050,000 [one million and fifty thousand] per month (which is NIS 12,600,000 [twelve million six hundred thousand]
per annum). For the removal of doubt it is clarified that the aforesaid amounts with respect to the 2012 year will not bear linkage differentials to the index. 

 

	 	5.1.3	Commencing from January 1, 2013 and throughout the entire remainder of the License Period — a sum of NIS 1,075,000 [one million and seventy-five thousand]
(which is NIS 12,900,000 [twelve million nine hundred thousand] per annum), plus linkage differentials to the index as described below, which are fair and reasonable user fees for the License Areas as determined by consent by two independent real
estate appraisers who were engaged —one on behalf of Sdot Yam and the other on behalf of CaesarStone and as stated in the appraisal which is attached to this Agreement as Appendix B. 

 

	 	5.2	Commencing from January 1, 2013 (the first day of January 2013), the User Fees which will be payable by the Company will be revised upwards (only), once every
six months (in other words commencing on January 1, 2013 and every six months thereafter), in the event of a rise in the Consumer Price Index, as against the basic index. At every such date, if it transpires that the new index (as defined
below) is higher than the basic index (as defined below), the User Fees which the Company will pay to the Kibbutz commencing from that date onwards will increase by the percentage by which the new index has risen as against the basic index. For the
removal of doubt it is clarified that a decrease in the index below the basic index will not entitle the Company to a reduction in the amount of the User Fees payable. 

For purposes of the foregoing, “the basic index” means the index that was known on January 1, 2011 (the first day of
January 2011); “the new index” means the index last published prior to the date of the calculation. For the removal of doubt it is clarified that it has been agreed between the parties that the User Fees in the years 2011 and
2012 will not bear linkage differentials to the index and that commencing from the first day of January 2013 onwards, the User Fees will be updated by the full rise in the index as from the first day of January 2011. 

 

	 	5.3	 The User Fees will be paid by the Company to the Kibbutz as follows: up to the start of each year (“the Forthcoming Year”),
CaesarStone will transfer 12 checks payable to payee only to Sdot Yam each of which in an amount equivalent to 1/12 of the User Fees as specified above for the Forthcoming Year, and the due date for

  
 6 

	 	
payment of each check shall be the first of each calendar month in the Forthcoming Year. The abovementioned linkage differentials shall be paid not later than January 31 of each year in
respect of the preceding year. Transfer of the checks as aforesaid to Sdot Yam will be deemed for all intents and purposes to be payment by the Company to the Kibbutz, except in a case in which the checks are not met upon presentation for payment.
Notwithstanding the foregoing, the User Fees for the first calendar year of the License Period will be transferred to the Kibbutz by the Company in checks postdated to the 1st of each month starting from the commencement of the License Period immediately after the coming into force of this
Agreement (and will be until the end of the first calendar year only). 

  

	 	5.4	Commencing from January 1, 2021, during every License Period (but not later than once every three years), the Kibbutz will be entitled to appoint a real estate
appraiser (whose identity shall be agreed by the Company, and if his identity is not agreed within 30 days from the date the Kibbutz applied to the Company in writing, the Kibbutz will appoint the real estate appraiser out of the recommended
list of real estate appraisers of Bank Leumi le-Israel B.M., as prevailing at that time) in order for him to assess the fair and reasonable User Fees for the License Areas. In the event that such real estate appraiser is appointed as aforesaid, the
User Fees will be updated in accordance with the real estate appraiser’s decision. 

  

	 	5.5	In addition to the foregoing, in a case in which there is a substantial change in the scale and extent of the payments payable by the Kibbutz, as at the date of signing
of this Agreement, to the Caesarea Development Corporation and/or to the Israel Lands Administration, with respect to Land (after the Kibbutz has made maximum efforts in the circumstances of the matter in order to avoid such a situation) — the
Kibbutz will be entitled to appoint a real estate appraiser as referred to in Clause 5.4 above commencing from January 1, 2018. 

  

	 	5.6	Without derogating from and/or without prejudice to any remedy or relief available to the Kibbutz pursuant to this Agreement and/or according to any law, each payment
of User Fees which is not paid on due date in accordance with Clause 5.3 shall bear penalty interest at the rate of interest prevailing for the time being at Bank Leumi le-Israel B.M. in respect of an exceeding of an approved credit framework in
current business accounts, commencing from the elapse of 10 days from the date intended for the payment of each such payment and up to the date of actual payment thereof. 

 

	6.	Taxes and payments 

  

	 	6.1	All the taxes, fees, levies, payments and rates, governmental, municipal, local and/or other, which are imposed on lessees and/or users in relation to the License Areas
and/or the Buildings and/or for the purpose of the license, as well as all the remaining payments which apply according to law to lessees and/or users, including and without derogating from the generality of the foregoing, payments of rates, local
committee taxes, electricity, water, communications and so forth, which exist at the time of signing of this Agreement and/or which may be imposed in the future, shall be borne by the Company and shall be paid by it regularly and on due date —
all on condition that this does not impose on the Company an additional obligation for payment in respect of services regulated pursuant to the Agreement for the Providing of Services and Division of Expenses between the Company and the Kibbutz
which was signed on the date of signing of this Agreement. 

  
 7 

	 	6.2	On a demand by the Kibbutz, the Company shall furnish the Kibbutz with certificates and receipts indicating the making of all of the payments which the Company is
liable to pay as aforesaid. 

  

	 	6.3	The Kibbutz will be entitled (but not obliged), to pay any amount the obligation for payment of which is imposed on the Company according to this Agreement and has not
been paid by it within 30 days from the date on which such amount was supposed to be paid, provided that the Kibbutz shall give the Company written notice of its intention to make such payment at least 14 days in advance.

 The Company shall refund to the Kibbutz any payment that may be paid by it as aforesaid, together with interest
at the rate mentioned in Clause 5.6 above, reckoned from the date such amount was paid by the Kibbutz and up to the date of reimbursement thereof to the Kibbutz by the Company. 

 

	 	6.4	Subject to the provisions of Clause 7 below in regard to additional construction on the Land, the Kibbutz shall bear the payment of the taxes, fees, levies and any
payments in relation to the License Areas, which apply to a land owner and/or long leasehold lessee, including, but without limitation, leasehold fees to the Lands Administration and payments to the Caesarea Development Corporation — whether
existing at present or which may exist in the future, and it agrees that if a new tax and/or new fee and/or new levy and/or any other payment which by its nature applies to owners and/or leasehold lessees of land (“the New Tax”)
should be imposed by the government and/or any authority or other body, then the Kibbutz will pay the New Tax. 

  

	7.	Additional building construction on the Land 

  

	 	7.1	In a case in which the Company wishes to carry out additional building construction and/or any other improvements in the License Areas (including the Buildings)
(“the Additional Construction”), then the following will apply: 

  

	 	7.1.1	The Company will notify the Kibbutz in writing of its desire to carry out Additional Construction (in respect of industrial areas — construction to an envelope
level only at customary standards, and in respect of offices — full building construction at normal and customary standards), and the objects and the scope and extent thereof. 

 

	 	7.1.2	Within a reasonable time the Kibbutz will take steps to obtain the necessary licenses and/or permits for purposes of performing such building construction.

  

	 	7.1.3	In addition, subject to obtaining a building permit and any other approval and/or permit and/or license required according to law, the Kibbutz will, within a reasonable
time and by coordination with the Company, perform the additional building construction out of moneys of a loan with which the Company will provide it according to market conditions (in an amount to cover the full Additional Construction —
including the full planning costs that include the issue of the building permits and/or payment of levies and fees in respect thereof), the execution and the financial expenses during the period of construction) (“the Loan”).

  
 8 

	 	7.1.4	Commencing from the date on which the areas of the Additional Construction are delivered to the Company, the User Fees which the Company will pay the Kibbutz shall
increase by amounts that will be derived from the level of User Fees specified in this Agreement (and all the remaining contents of Clauses 5.1 to 5.4 above) in respect of the areas of the Additional Construction (“Additional User Fees for
the Additional Construction”). 

  

	 	7.1.5	The Loan will be repaid by the Kibbutz solely by way of a full set-off against the Additional User Fees for the Additional Construction, and only against that, until
the Loan has been repaid, including the full interest in respect thereof (or if at the date of termination of the License Period the full Loan has not yet been repaid, the balance of the Loan which has not yet been repaid will be fully discharged on
the date of termination of the License Period). For the avoidance of doubt it is clarified that the User Fees specified in Clauses 5.1 to 5.4 above will under no circumstances be reduced, and the Company will not be entitled to set off any amounts
against them, including on account of repayment of the amounts of the Loan it will provide to the Kibbutz as aforesaid for purposes of performing the Additional Construction. 

 

	 	7.2	In the event that the Company should wish to perform Additional Construction and/or any other improvements in the License Areas and/or in the Buildings, which are not
for purposes of offices and/or are in excess of building construction at the level of an envelope with respect to industrial areas (“the Works”), including all other Works which do not lead to an increment in the User Fees or which
are not required for purposes of regulating the existing use of the License Areas and/or the Buildings — the Works will be performed by the Company and at its expense after receipt of a building permit and any other approval and/or permit
and/or license that is required according to law (and without derogating from the provisions of Clause 3.5 above), subject to the condition that same are in accordance with the Purpose of the License and without this in any way altering the actual
User Fees which the Company will pay to the Kibbutz as stated in this Agreement. 

  

	 	7.3	The Company undertakes not to carry out and not to perform any alterations and/or repairs and/or enhancements and/or improvements and/or any constructional additions
and/or demolition of buildings or part thereof and/or any other building construction work, of any sort whatsoever, in the License Areas, except in accordance with provisions of Clauses 7.1 and 7.2 above. 

 

	 	7.4	All the results of the Additional Construction and/or the Works (for the removal of doubt — all the repairs, enhancements, improvements, alterations and additions)
which are permanently affixed to the Land will have the status of being the sole property of the Kibbutz, and the Company will not be entitled to dismantle and/or remove same from the License Areas at any stage, including after the end of the
License Period, and it will not be entitled to any payment in respect thereof from the Kibbutz and/or to any reduction in the User Fees specified in this Agreement (apart from repayment of the loan, as mentioned in Clause 7.1.3 above, if and to the
extent that it is provided). 

  
 9 

	 	7.5	Where any works have been performed contrary to the provisions of Clauses 7.1 or 7.2 above (“Prohibited Work”), then without derogating from the
Kibbutz’s right to treat same as a material breach of this Agreement and without derogating from any other remedy available to the Kibbutz pursuant to this Agreement and/or according to any law, the Kibbutz will be entitled to demand from the
Company to demolish the Prohibited Work and to restore the situation to its former condition (as applied prior to performance of the Works), and in such event the Company will be obliged to demolish the Prohibited Work and to perform all the repairs
required in the License Areas that are necessary in order to return the License Areas to the Kibbutz in the condition they were prior to the Prohibited Works being performed. 

 

	8.	Use of the License Areas and maintenance thereof 

  

	 	8.1	The Company undertakes to allow the authorized entity on behalf of the Kibbutz, about whom the Kibbutz will notify the Company in writing and/or the legal
representatives of the Kibbutz, to enter upon the License Areas (including the Buildings) at any reasonable time, by prior arrangement with the Company, in order to inspect and examine the state of the License Areas and the conformance of the
activities in the License Areas to the purpose of the license. 

  

	 	8.2	Subject to the provisions of Clause 3.5 above, the Company is responsible for the fulfillment and performance of any law, regulation, order or bylaw, in connection with
the License Areas (including the Buildings). 

  

	 	8.3	The Company undertakes to do its best in order to prevent any eyesore and/or nuisance and/or damage and/or inconvenience being created as a result of the use of the
License Areas (including the Buildings) for persons who are on the Kibbutz and/or to any of their property (apart from inconvenience, eyesore and/or nuisance caused by virtue of the activities of the Company’s plant, which are at standards that
are substantially similar to the standards applied at the Company’s plant in the Bar-Lev Industrial Zone and subject to the differences which currently exist as between the plants). Included in this and without derogating from the foregoing,
the Company undertakes, subject to the character of the activities in the plant, to meticulously maintain the cleanliness of the License Areas and their immediate surrounds. 

 

	 	8.4	The Company undertakes to use only the access roads to the License Areas for vehicles and cartage vehicles and at the places designated for this, and not to use
vehicles, motorized or other, which might damage the access roads to the License Areas and to the parking areas. 

  

	 	8.5	The Company will be fully and exclusively responsible to all the governmental, municipal and local institutions and authorities and to any other competent authorities,
and also to the Kibbutz, for the payment of all the fines and/or the compensation resulting from non-compliance with the provisions of this Clause 8. 

  
 10 

	9.	Licensing and licenses 

  

	 	9.1	Subject to what is stated in Clause 3.5 above, the Company declares that it is conversant with the conditions required for purposes of obtaining the licenses and
permits that are necessary according to any law and from all the governmental, municipal, and local institutions and authorities, and any other competent authority, for operating its business in the License Areas — and it hereby undertakes to
obtain any license required by it and to see to it that its business is conducted throughout the entire License Period in conformity with any license and permit required by any relevant authority. The Company shall at its expense bear all the
payments required for obtaining the abovementioned licenses and permits. 

  

	 	9.2	Subject to what is stated in Clause 3.5 above, if any competent authority should make the issue of a license and/or permit for operating the plant in the License Areas
conditional upon the performing of works within the Buildings, the Company will be obliged to do so at its expense and in this regard the provisions of Clause 7 will apply, mutatis mutandis. 

 

	 	9.3	Subject to what is stated in Clause 3.5 above, it is hereby agreed that the Kibbutz is not responsible to the Company for obtaining any licenses or permits from the
competent authorities that are necessary in connection with the operation of the Company’s business in the License Areas, but, at the Company’s request, the Kibbutz will do everything it can in order to assist the Company in obtaining such
approvals or licenses, in return for an appropriate payment. 

  

	10.	The Later Projects 

 In relation to the Later Projects the following provisions will apply and in the event of a conflict between them and any of the provisions of this Agreement, the provisions of this Clause 10 will take
precedence and will prevail: 
  

	 	10.1	MBD — the provisions of Clause 7.1 above (including an increase of the User Fees and a setoff of the construction and licensing costs against the
increment in the User Fees) will apply to the construction of the MBD, including everything connected with the obtaining of all the permits connected with and/or required for such construction. 

 

	 	10.2	Silos and Still Containment Pallets — the construction of the Silos and Still Containment Pallets, including everything connected with obtaining all
the permits connected with and/or required for purposes of such construction, shall be governed by the provisions of Clause 7.2 above (including payments that may be demanded, if demanded, in order to obtain a permit for exceptional use in these
areas, and which shall be borne by the Company without setoff against the User Fees, but excluding payment of a betterment levy, if same should apply, which shall be borne by the Kibbutz, shall be paid by the Company and setoff against the User Fees
fixed in this Agreement). 

  

	 	10.3	 Hothouses — the Company will be entitled at any time during the License Period, to dismantle the hothouses. Where the Company has in
practice dismantled the hothouses (and has not built any construction in place thereof), the User Fees 

  
 11 

	 	
stipulated in this Agreement shall be reduced by an amount which reflects the difference between fair and reasonable user fees for the area of the hothouses as against fair and proper user fees
for an open area — in respect of the area of the hothouses. 

  

	11.	Liability and insurance 

  

	 	11.1	The Kibbutz, including any of its members and residents, any of the office-bearers in the Kibbutz and anyone acting on behalf of or for the Kibbutz (collectively:
“the Kibbutz Individuals”), will not be responsible in any way and vis-à-vis any party, for any bodily damage and/or damage to property and/or loss and/or expense of whatsoever nature, which may be incurred by the
Company and/or any of the officers therein and/or any of its employees and/or anyone engaged by it (including Kibbutz members whom the Kibbutz places at the disposal of the Company in accordance with the provisions of the manpower agreement between
the Kibbutz and the Company) and/or any of its agents and/or any of its customers and/or any of its visitors and/or any other person who may for any reason be in the License Areas (including the Buildings), in respect of anything connected with
and/or relating to and/or arising from the permission for use which is granted to the Company under this Agreement and/or due to any use that may actually be made by any entity in the License Areas (including the Buildings), except in respect of a
malicious act or negligence on the part of the Kibbutz and/or any of the Kibbutz Individuals (in their activities other than as Kibbutz appointees pursuant to the Manpower Agreement between the Kibbutz and the Company, which was signed at the time
of signing of this Agreement, in relation to which the aforesaid manpower agreement shall apply) and/or in respect of a breach of this Agreement by the Kibbutz . 

 

	 	11.2	 The Company undertakes to compensate the Kibbutz and to hold it harmless, including any of the Kibbutz Individuals (“the Indemnified
Persons”) by way of full compensation and indemnity, for any amount any of the Indemnified Persons may be ordered to pay pursuant to a final judgment (including costs of the suit and also including reasonable attorney’s fees that any
of the Indemnified Persons may be required to incur) and in respect of any liability imposed on any of the Indemnified Persons due to any matter or thing that is under the Company’s responsibility according to any law and/or in respect of
liability that may be imposed on any of the Indemnified Persons by virtue of any bodily damage and/or damage to property and/or loss and/or expense that was sustained by any entity, including the Kibbutz and/or any of the Kibbutz Individuals and/or
the Company and/or any of the officers therein and/or any of its employees and/or any of those engaged by it (including Kibbutz members whom the Kibbutz places at the Company’s disposal in accordance with the provisions of the manpower
agreement between the Kibbutz and the Company) and/or any of its agents and/or any of its customers and/or any of its visitors and/or any other person who may for any reason be in the License Areas (including the Buildings) during the License
Period, except in respect of a malicious act or omission on the part of the Kibbutz and/or any of the Kibbutz Individuals and/or in respect of a breach of this Agreement by the Kibbutz. The indemnity under this clause is subject to the Kibbutz
delivering to the Company, shortly after the receipt thereof, the demand and/or the claim that may be filed, and that it enables the Company to conduct the defense against any such claim, including through attorneys on its behalf (and at the
Company’s 

  
 12 

	 	
expense), and that it shall fully cooperate with it and will not compromise and/or conduct negotiations towards a compromise without obtaining the Company’s prior written consent.

  

	 	11.3	Without derogating in any way from anything in the foregoing, the Company undertakes to purchase from a recognized insurance company having a good reputation in Israel
and to maintain throughout the entire License Period , insurance policies for itself and any third party, including insurance of the Buildings and the contents of the Buildings at their full replacement value, against the normal risks in extended
fire insurance, as well as liability insurance according to law for accidental physical damage (“the Insurance Policy”) to such extent of cover (per event and per period), and on such conditions that will not be materially inferior
to the terms and conditions of the Company’s existing insurance policies at the date of signing of this Agreement, and which are attached to this Agreement as Appendix C. The Company undertakes to pay the full premiums in
connection with the Insurance Policy on time and according to due date and to fully comply with all the remaining terms and conditions of the Insurance Policy. 

 

	 	11.4	The Kibbutz, including any of the Kibbutz Individuals, will be included as additional insureds in the Policy for the Building (subject to the condition that the
insurance compensation under the Policy for the Building, in a case that an insurance event has occurred, will be paid to the Company and will serve solely for reconstruction and rehabilitation of the Building), and in the Company’s third party
policy. An express condition shall also be included in the insurance policy pursuant to which the insurer is not entitled to cancel the policies and/or to reduce the extent of cover under them and/or not to renew same, unless the insurer has
notified the Kibbutz by registered mail of its intention to do so at least 60 days in advance. The insurance policy shall also include an express clause regarding a waiver by the insurer of its right of subrogation against the Kibbutz,
including any of its members and residents and any of the office-bearers in the Kibbutz. 

  

	 	11.5	The Company shall send a copy of all the insurance policies for inspection and perusal by the Kibbutz. 

 

	 	11.6	For the removal of doubt it is clarified that nothing in the foregoing in regard to the insurance policies has the effect of in any way eliminating and/or reducing the
Company’s responsibility and its liability as set forth in this Clause 10 and/or of imposing any obligation and/or responsibility on the Kibbutz in a case in which the insurance policies are insufficient to cover the damage that is supposed to
be covered by the insurance policy, or in the event that it should become apparent that certain damage is not covered under the insurance policy. 

  

	12.	Vacation 

  

	 	12.1	 At the end of the License Period or in a case in which the license should terminate before the end of the License Period for any reason (“the
Date of Vacation”), the Company undertakes to return the License Areas to the Kibbutz (including the Buildings), where same are completely empty and vacant of any person and article which is not permanently affixed to the Land, and where
the envelope of the Buildings is in good condition, apart from wear and tear arising from reasonable use. For the removal of doubt it is clarified that notwithstanding the foregoing,

  
 13 

	 	
means of production, assets and installations which are connected to the Buildings and which are not permanently affixed to the Land, shall remain the Company’s property and shall be taken
away by it. 

  

	 	12.2	Vacation of the License Areas and the Date of Vacation constitute fundamental terms and conditions of this Agreement. If any License Areas or any part thereof are not
in good order and condition at the Date of Vacation, excluding reasonable wear and tear, the Kibbutz may, after having given the Company written notice at least 10 days in advance in which the Company fails to repair the damage and/or the fault
and/or the breakdown, repair any damage and/or fault and/or breakdown at the Company’s expense, and the Company shall refund to the Kibbutz any reasonable amount it has incurred for this purpose. 

 

	 	12.3	If the Company has not vacated the License Areas or any part thereof on the Date of Vacation, then without prejudice to alternative and/or additional remedies available
to the Kibbutz according to the provisions of this Agreement and/or according to any law, the Company shall pay the Kibbutz agreed damages to an extent of twice the User Fees specified in this Agreement in respect of each day of default in vacation,
commencing from the Date of Vacation specified in this Agreement and up to the date of actual vacation — without the Kibbutz required to prove damage and/or loss of anticipated profits due to non-vacation of the License Areas on due date. The
aforesaid amount is assessed in advance by the parties, at the time of signing of this Agreement, as being fair and reasonable and fixed compensation in respect of a default in vacating the License Areas. For the removal of doubt it is clarified
that payment of the aforesaid compensation does not and will not constitute consent to an extension of the License Period and/or as permission to the Company being late in vacating the License Areas. 

 

	13.	Remedies for breaches 

  

	 	13.1	Without derogating from what is contained further on in this clause and from the specific remedies appearing in this Agreement and in addition to the foregoing, the
provisions of the Contracts Law (Remedies for Breach of Contract), 5731-1971 will apply to a breach of this Agreement. 

  

	 	13.2	The parties declare that any breach of any of the provisions of this Agreement which is not rectified notwithstanding notice of 30 days calling for the
rectification thereof, will be deemed to be a material breach of this Agreement. 

  

	14.	General 

  

	 	14.1	It is hereby expressly declared and agreed that the Company will not be deemed to have breached the Agreement or as being a party who has not fulfilled any of the
conditions hereof, if it is not possible to make use of the License Areas, for the Purpose of the License, as a consequence of “force majeure” over which the Company has no control. “Force majeure” for purposes of
the foregoing shall include, inter alia, natural disasters, weather damage and a state of emergency from the security aspect, and a final and unappealable decision of a competent judicial authority prohibiting use of any area of the License
Areas for the purpose of the License — in relation to such area only. 

  
 14 

	 	14.2	The Company undertakes that at its expense it will finance the cost of performing all the works required for altering the access road to the Kibbutz, including
everything entailed therein and arising therefrom, with the objective of separating between the entrance to the Kibbutz and the entrance to the plant — all up to an amount of NIS 3.3 million plus V.A.T. The access road project will be
managed by the Kibbutz until the completion thereof, on a basis that an inspector who shall be appointed by the Company shall be added to the management team. 

 

	 	14.3	In accordance with an agreement between the Company and the Kibbutz, the Company will pay a sum of NIS 200,000 plus V.A.T. in respect of asphalt paving in the area for
storage of gondolas which was performed on a requisition by the Kibbutz, and this amount will be setoff in 48 equal monthly payments against monthly payments of the User Fees which the Company will pay to the Kibbutz in accordance with the
provisions of this Agreement, commencing from January 1, 2013 and until December 31, 2016. 

  

	 	14.4	The Company undertakes that during the License Period a production line (quartz slabs) which currently exists at the plant (the Company’s plant at the Kibbutz)
will not be closed down, unless all the Company’s other production lines in Israel are closed down prior thereto. It is further agreed that the Company’s head office will remain at the Kibbutz during the License Period.

  

	 	14.5	This Agreement shall be binding on the parties and on their successors-in-title. 

 

	 	14.6	This Agreement is not intended to confer rights on any third parties, except with respect to the Kibbutz Individuals as expressly mentioned in Clause 10 above, unless
otherwise expressly stated. 

  

	 	14.7	This Agreement contains and expresses all the terms and conditions that have been agreed between the parties. No promises, consents, agreements, undertakings or
representations, verbal or in writing, in regard to the subject matter of this Agreement, which were given or made by either of the parties prior to this Agreement being entered into, will be of any validity, and as from the date of signing of this
Agreement will be deemed to be null and void in all respects. In addition and without derogating from the generality of the foregoing, it is hereby agreed between the parties that the existing license agreement that was signed between the parties on
January 1, 2001, including any addendum thereto, will terminate on the Date of Fulfillment of the Condition Precedent. It is further agreed, without derogating from the generality of the foregoing, that the Company hereby expressly and
irrevocably waives its demand to receive any refund of money from the Kibbutz in respect of investments and/or building construction and/or improvements which the Company has made at its expense in the License Areas prior to the date of signing of
this License Agreement, including as stated in Appendix D which is attached to this Agreement, and that the Kibbutz confirms that it does not have and/or that it waives any financial demands against the Company that are connected
with the license agreement that was signed between the parties on January 1, 2001. For the removal of doubt it is clarified that nothing in the foregoing shall have the effect of altering any of the provisions of this Agreement.

  
 15 

	 	14.8	No alteration, amendment or addition to this Agreement shall be of any validity unless drawn up in writing under the signature of all the parties.

  

	 	14.9	Failure to take action in a case or cases of a breach or breaches will not be deemed to be acquiescence to or a waiver of any of the rights of the parties to this
Agreement, and no like inference shall be drawn therefrom in regard to similar instances or in regard to other instances. 

  

	 	14.10	No waiver, extension of time, indulgence or failure to exercise a right under this Agreement will be of any force and validity, unless drawn up in an express and signed
document, and even in such case shall apply only to the instance specifically mentioned in such document and shall not derogate from other rights of any party pursuant to this Agreement. 

 

	 	14.11	This Agreement and the performance hereof by the parties shall be determined, interpreted and regulated according to the laws of the State of Israel. The competent
courts in Tel Aviv and they alone will have exclusive jurisdiction in regard to any disputes connected with this Agreement. 

  

	15.	Addresses and notices 

 The addresses of the parties are as set forth at the head of this Agreement (or any other address that may be given by one of the parties in writing to the other parties). Any notice sent by any party to
another according to the aforesaid addresses shall be deemed to have been received by the addressee: (a) if sent by registered mail — three (3) business days after the day of posting; (b) if sent by facsimile or by e-mail, one
business day after the transmission, provided that the sending party has confirmation of the notice having been transmitted to the addressee. 
 In witness whereof the parties have hereunto signed: 
  

									
	 	 		 	 
	 Sdot Yam Agricultural Cooperative Society Ltd.
	 		 	CaesarStone Sdot Yam Ltd.
					
	By	 	 	 		 	By	 	 
		 		 		 		 	
	And  	 	 	 		 	And  	 	 

  
 16 

 APPENDICES  

Appendix A — Drawing of the Land 
 Appendix B — Opinions of Chartered Real Estate Appraisers 

Appendix C — The Insurance Policies 
 Appendix D — The Company’s Investments in the License Areas prior to the Date of 
 Signing of this Agreement 

  
 17 

 APPENDIX A 

(Drawing of the Land) 

  

 APPENDIX B  

 

			
	 Z.C. Measurements & Engineering Ltd.
	 	
	 Property Appraisal; Measurements and Civic Engineering
	 	Urban Economic Management & Consulting Ltd.

 October 5, 2010 
 Expert Opinion  
 Estimate of the Fair Rental 

 Part of Blocks 10636, 10637, 10638  
 Land of the CaesarStone Plant 
 Kibbutz Sdot Yam 

  

			
	59 Herbert Samuel Street, Hadera 38362,	 	67 Yigal Alon Street, Tel Aviv 67443, Toyota House,
	tel. 04-6249578, Fax 04-6342218	 	Building B
	13 Ben-Gurion Street, Herzlia 46785,	 	Tel. 03-5611444, Fax 03-5628866,
	tel. 09-9543385, Fax 09-9543386	 	e-mail: erez@zc-eng.co.il
	e-mail: brillis@bezeqint.net	 	

  
 1 

 Contents  

 

							
	 	 	 	  	Page	 
			
		 	Details of experts	  			
			
	 1
	 	Purpose of opinion	  	 	5	  
			
	 2
	 	Date of visit to property	  	 	5	  
			
	 3
	 	Effective date of opinion	  	 	5	  
			
	 4
	 	Details of property	  	 	5	  
			
	 5
	 	Description of environs and property	  	 	6	  
			
	 6
	 	Property rights	  	 	7	  
			
	 7
	 	Planning situation and permits	  	 	8	  
			
	 8
	 	Principles applied in opinion	  	 	9	  
			
	 9
	 	Factors and considerations leading to opinion	  	 	10	  
			
	 10
	 	Appraisal	  	 	10	  

  
 2 

 Details of the education of Mr. Yitzak Bril:  

 

	1.	B.A. in Economics and Business Administration from Haifa University 

  

	2.	Graduate of the P.P.B. program in Financing and Accounting, New York University. 

 

	3.	Graduate of Real Estate Appraisal and Property Management the Technion, Israel Institute of Technology. 

 

	4.	Certified Real Estate Appraiser. 

 My
experience:  
  

	1.	Cash flow manager, INTECH, USA. 

  

	2.	Deputy CFO, Ramla Municipality. 

  

	3.	Ministry of Justice — Real Estate Appraisal Division. 

  

	4.	Owner of a private office dealing with Urban Economic subjects and Real Estate Appraisal. 

 Planning and Building Committees and other professional occupations:  
  

	1.	Included in the experts list of the Haifa District Court. 

  

	2.	Appraiser of the Local Hadera Planning and Building Committee and of the Gezer Regional Committee. 

 

	3.	Deciding appraiser of the Haifa Planning and Building Local Committee. 

  

	4.	Member of the Accounting Standardization Committee of the Israeli Real Estate Appraisers Association. 

 

	5.	Deciding appraiser on behalf of the Central Region Appeals Committee. 

 Details of the experience and education of Mr. Erez Cohen:  
  

			
		
	2008    -    	 	 Chairman, Israeli Real Estate Appraisers Association.
 L.L.B degree, Ono Academic Campus.

		
	2005    -	 	Deputy Chairman, the Appraisers Chamber.
		
	2004    -	 	Law studies, Kiryat Ono Academic Campus.
		
	2003    -	 	Examiner in practical appraisal tests on behalf of the Ministry of Justice.
		
	2002    -	 	Chairman, Continuing Education Committee of the Israeli Real Estate Appraisers Association; member of the Association s Committee.
		
	2000    -	 	Graduate, Expert Witnesses course.
		
	1999    -	 	Graduate, Arbitration and Mediation course.
		
	1996    -	 	Studies towards Masters Degree — Urban Studies at the Department of Geography, the Hebrew University, Jerusalem.
		
	1993    -	 	Real Estate trainee, on real estate appraisals of large companies — Mashav, Nesher, Amot Clal, etc.
		
	1993    -	 	Real Estate Appraisers license no. 324, dated April 24, 1993.
		
	1990    -	 	B.A. Tel Aviv University, Department of Geography and Political Science. Graduate of a course of Real Estate Appraisal and Property Management at the Tel Aviv branch of the Haifa
Technion.

 In the course of work I draw up appraisals of considerable scope, and also advise the following organizations:
 
  

	 	•	 	 Consultant to the Nesher Cement Company. 

  

	 	•	 	 Consultant to the APAX Fund on the acquisitions of Bezeq and Tnuva. 

 

	 	•	 	 Consultant to Clal Industries. 

  

	 	•	 	 Preparation of appraisals as expert on behalf of the courts. 

 

	 	•	 	 Consultant to the Eilat Municipality on property improvement, following urban construction plans and registration. 

  
 3 

 Membership of organizations:  

 

	1.	Member of the Israeli Real Estate Appraisers Association. 

  

	2.	Member of the Commercial and Industrial Club. 

  

	3.	Founding subscriber of the “Hapoel Katamon Jerusalem” football team. 

 

	•	Consultant to Isrotel Hotels. 

  

	•	Preparation of appraisals for financial reports in accordance with IFRS accounting standards. 

  
 4 

 re: Estimate of the Fair rental 

Part of Blocks 10636, 10637, 10638, Compound of the Works of CaesarStone, Kibbutz Sdot Yam  

 

	1.	Purpose of this opinion: 

 We the undersigned were requested by Mr. Gili Amir, General Manager of real estate at Kibbutz Sdot Yam and by Mr. Eyal Attia, representative of the company Tenne Investment Management F.E. Ltd.,
CaesarStone Sdot Yam Ltd., to present our professional opinion on the subject of the value of the fair rental of the compound of the CaesarStone plant, according to a License Agreement dated January 1, 2010. 

We declare that there is no interdependence whatever between the Kibbutz Sdot Yam and CaesarStone Sdot Yam Ltd., Tenne Investment
Management F.E. Ltd. and ourselves concerning anything required for preparing this opinion. 
 For the purpose of estimating the
fair rentals: 
  

	 	•	We examined the real estate documents of the property which were furnished by the parties requisitioning the opinion. 

 

	 	•	We checked out the plans applicable to the location at the offices of the local “Hof Hacarmel” Local Planning and Building Committee.

  

	 	•	We prepared a review of the value of the fair rentals, in the course of making the relevant adjustments. 

 

	2.	Date of visit to the property: 

 Several visits were made during May-July 2010 by Mr. Yitzhak Bril and Mr. Erez Cohen — Real Estate Appraisers. 

 

	3.	Effective date of the opinion: 

 January 1, 2010 — date of termination of contract according to the Agreement. 
  

	4.	Details of the property: 

  

			
	 Settlement :
	  	Kibbutz Sdot Yam
	  

Registration details:
	  	Part of Blocks 10636, 10637, 10638.
	  

Property classification:    
	  	Real estate of the CaesarStone plant.

  
 5 

	5.	Description of the environs and of the property: 

  

	 	5.1	The environs: 

  

	 	5.1.1	Kibbutz Sdot Yam was founded in its present location in 1940. 

  

	 	5.1.2	The kibbutz is located near Caesarea, south of ancient Caesarea and about 2 km north of the Orot Rabin Power Station at the city of Hadera. 

 

	 	5.1.3	The CaesarStone plant is located west of the entrance to Kibbutz Sdot Yam and on the east of the entrance road. 

 

	 	5.2	Description of the property and of the works: 

 The CaesarStone company was founded in 1987 at Kibbutz Sdot Yam, near the remains of the ancient Roman town of Caesarea. 
 The company manufactures high-quality quartz slabs having various uses and applications. 
 The land in question serves the CaesarStone company within the confines of Kibbutz Sdot Yam. The plant is located in the northern part of Kibbutz Sdot Yam, close to the entrance to the kibbutz.

 The area concerned is part of Blocks 10636, 10637, 10638. 

The property concerned is of plain topography and has an irregular shape. 

There are several areas used by the CaesarStone plant. 
 Description of the works areas, listing the area in sq.m. and its uses: - 

(According to a chart dated November 19, 2009, carried out by HETZ HATSAFON 

and according to visual inspection): 
  

																					
	 	  	Area B	 	  	Area C	 	  	Area D	 	  	Area E	 	  	 	 
	 	  	(Ancillary buildings)	 	  	(western)	 	  	(eastern)	 	  	(eastern, open)	 	  	Total	 
	 Undeveloped open area
	  				  				  				  	 	10,583	  	  	 	10,583	  
	 Developed area with infrastructures
	  	 	22,599	  	  	 	27,985	  	  	 	9,426	  	  				  	 	60,010	  
	 Hothouses for raw material storage
	  	 	3,851	  	  				  				  				  	 	3,851	  
	 Built-up area, industrial use
	  				  	 	1,025	  	  	 	16,269	  	  	 	5,738	  	  	 	23,032	  
	 Built-up area, office use
	  	 	884	  	  	 	1,894	  	  	 	158	  	  				  	 	2,936	  
	 Cumulative total
	  	 	27,334	  	  	 	30,904	  	  	 	25,853	  	  	 	16,321	  	  	 	100,412	  

  
 6 

	6.	Property rights: 

 Property rights in the works areas do not uniformly apply to the entire area, due to different legal status of the various parts as listed below: 

 

	 	6.1	An area of about 11,300 sq.m. out of the total works areas forms a part of the areas leased to the Kibbutz by the Caesarea Development Corporation. According to an
agreement dated October 19, 1964 between the Caesarea Development Corporation and Kibbutz Sdot Yam, a kibbutz of the Hanoar Haoved Movement for Agricultural Settlement Ltd., the Caesarea Development Corporation Ltd. undertakes to
register for the benefit of the kibbutz rights of sub-leasehold concerning grounds now held by the kibbutz. According to this agreement, the area was leased to the kibbutz under a sub-leasehold for 49 years starting October 1, 1953 until
September 20, 2002, whereby on May 8, 2001 the kibbutz utilized the option it had for an additional period of 35 years. The designated use of the area was established as “for economic purposes of the kibbutz” and as detailed
under the purpose of the lease stated in the 1953 agreement — “in order to set up residential buildings and other buildings required for economic purposes of the kibbutz and manufacturing works...” (i.e. “industry”). Despite
what is stated in the agreement, the deeds of leasehold were never signed and hence the rights of the kibbutz to this area have not been registered in the Land Registry. 

 

	 	6.2	Concerning an area of 10,750 sq.m. out of the total works areas, a separate lease agreement was signed with the Israel Lands Administration, dated July 7, 1978.
According to this agreement, the kibbutz received a lease right to that area for the purpose of operating “a paving workshop” for a period of 49 years (from April 1962 up to the end of March 2011) with an option of an
extension for 49 additional years. 

  

	 	6.3	With respect to an area of about 13,550 sq.m. out of the total areas of the plant, no special agreement has been signed with the Lands Administration, so that it
supposedly should come under the renewable three-year agreement which the kibbutz has with the Lands Administration, covering all grounds leased to the kibbutz by the Lands Administration. However, clause 2(A) of this agreement states that
“this contract does not apply to areas used for industry...”, and therefore the said agreement does not apply to this area. 

  

	 	6.4	It transpires that the subject of the rights of the kibbutz to this area has not yet been defined and there is as yet no specific agreement with the Lands
Administration relating to this part of the works areas, so as to define and clarify the rights of the kibbutz to this area. However, it should be noted that the signature of the Land Administration on the plans listed in Paragraph 7 as owners
of the land, expresses an agreement to the designation of the area and its use for industrial purposes, as stated in these plans. 

  

	 	6.5	Currently the kibbutz is taking action to sign a long leasehold contract with the Lands Administration, which will also cover the land mentioned above in sub-Paragraph
6.3, and which will include an agreement of the designation of rights to these areas. 

  
 7 

	7.	 Planning situation1: 

 

	 	7.1	Planning status: 

The property concerned is subject, among other matters, to the following plans: 

 

	 	7.1.1	Plan HC/25, published and validated in the Official Gazette 3240 on August 22, 1985. 

According to this plan, the plot is classified as “economic structures” with the following construction directives: 

Permitted construction percentage : 25% 
 No. stories : 2 
  

	 	7.1.2	Plan MSH/39, published and validated in the Official Gazette 3409 dated December 18, 1996. 

Purpose of the plan: 
  

	 	a.	Registration of lands belonging to the Kibbutz Sdot Yam in the Land Registry according to the chart. 

 

	 	b.	Cancellation and consolidation of existing blocks and parcels and the fresh sub-division thereof in accordance with the existing situation and future developments.

  

	 	c.	Establishment of goals and zones. 

  

	 	d.	Cancellation of existing roads and outlining new roads. 

  

	 	e.	Cancellation of designated areas. 

  

	 	f.	Cancellation of the provisions of former plans in everything concerning the division of the area for registration purposes. According to this plan the plot is
classified as “kibbutz buildings”. 

 Kibbutz buildings — the area marked as designated for kibbutz
buildings may be used for any of the following purposes in accordance with a detailed plan: cowsheds, milking parlor, barn, chicken coops, silo pits, warehouses, carpentry workshop, metal workshop, garage, shed, workshop and storage buildings as
well as other structures and facilities for the housing of animals, preparation of animal feed, a generator and a fueling station for the purposes of this settlement only. 

 

	1 	 The information in this chapter is based, inter alia, on planning information and urban construction plans as provided by the engineering department of
the Hof Hacarmel Local Planning and Building Committee. The abovementioned building rights are based on an understanding and reasonable interpretation of the urban construction plans at the date of this opinion and they do not obligate the local
planning and building committee. For the removal of doubt, it should be clarified that only after submitting an application for a building permit and after receiving the approval of the local planning and building committee will the building rights
be established. 

  
 8 

	8.	Principles applied in the opinion: 

 There are three possible approaches for estimating the fair rental for a real estate property: 
  

	 	a.	The market value approach. 

  

	 	b.	The cost approach. 

  

	 	c.	The income capitalization approach. 

 Under various market conditions each of these approaches could yield a different result. Under optimum market conditions applying each of the aforesaid approaches will yield closely similar results.

  

	 	a.	 The Market Value Approach2 — 3 

 This approach is based on an estimate of the fair rental for the appraised property, based on transactions in other properties which resemble it in location, character, level of risk involved and their
marketability. The final appraisal is carried out by using the relevant comparative coefficients of the property concerned as against the benchmark transactions. 
  

	 	b.	The Cost Approach — 

The value of the property is appraised based on the expected cost of erecting another property which is similar to the appraised property.
This means that the value obtained from this approach is the sum of the value of the land corresponding to its price on the free market, had it been empty and vacant in accordance with its zoning or its existing level of exploitation, plus the cost
of re-erecting the structure and the entrepreneurial profit, i.e. the evaluation of the real estate value and derivation of the fair rental. 
  

	 	c.	The Income Capitalization Approach — 

 The market value of the appraised property is estimated by capitalization of the income obtained, or which might be obtained from it over time, reflecting the fair rental. 

The capitalization operation is carried out using an interest rate determined in accordance with the character of the property, the risk
level involved in the current revenue and other factors. 
 In order to evaluate the appropriate use rates of the CaesarStone
plant area, we used the Market Value approach as well as the Income Capitalization approach. 
  

	2 	 Civil Appeal 161/79 – Minister of Finance v. Herbert Zilberstein, in the Supreme Court sitting as a Court of Civil Appeals. Civil Appeal 323/85
– State of Israel v. Avraham Eliahu Mizrahi, in the Supreme Court sitting as a Court of Civil Appeals. 

	3 	 The Appraisal of Real Estate, 11th edition. 

  
 9 

	9.	Factors and considerations leading to the opinion: 

 In estimating the fair rentals, we took account among other matters of the following factors and considerations: 
  

	 	9.1	Location of the kibbutz in the general fabric of the region and the level of environmental development existing in it. 

 

	 	9.2	The area of the property, its shape, its height and its location within the kibbutz. 

 

	 	9.3	Adjustment for the number of separate areas, their size and location. 

  

	 	9.4	We took account of the fact that access to the property is from the kibbutz premises. 

 

	 	9.5	The evaluation of industrial areas is based on a coefficient of 30% of the gross areas, including roads and passages, which are deducted from the open areas used by the
plant. 

  

	 	9.6	We took account of the fact that all the buildings were constructed under permit. 

 

	 	9.7	The planning situation of the property — see details in the chapter “Planning Situation”. 

 

	 	9.8	The state of the rights to the property. 

  

	 	9.9	The rentals take account of the size of the leased areas. 

  

	 	9.10	We took account of the various uses in the plant areas. 

  

	 	9.11	We made reference and compared prices regarding the fair rentals, both with properties in the near neighborhood and with alternative properties in nearby industrial
zones, applying the relevant adjustments. 

  

	 	9.12	The effective date of this opinion is January 1, 2010. 

  

	10.	
Appraisal4: 

 

	10.1	In light of the foregoing, the estimate of the appropriate value of the annual rent for the CaesarStone plant, as of the effective date of this opinion is the
following: 

 NIS 12,900,000 (twelve million nine hundred thousand new shekels). 

 

	4 	 Verba Volant, scripta manent 

  
 10 

	10.2	It should be noted that according to the contract of January 1, 2001 it was stated: “User fees will be linked to the rate of the dollar, whereby the basic
dollar rate will be that known on the date of signing of this agreement (April 2004). It is agreed that if when the time comes to make any payment the dollar rate is lower than the basic dollar rate, then payment will be effected according to
the basic dollar rate”. 

  

	10.3	Notwithstanding the foregoing in the sub-paragraph 10.2 above, it was agreed by the parties that the rent will be linked to the Consumer Price Index as published by the
Central Bureau of Statistics. 

 We declare that we have no interest in the property and that this appraisal was drawn up
according to our best professional understanding and the information submitted to us. 
  

			
	Yours truly,	  	Yours truly,
	 ( — )
	  	( — )
	 Yitzhak Bril
	  	Erez Cohen
	 Economist &
Real Estate Appraiser
	  	Real Estate Appraiser

 [stamps] 

  
 11 

 APPENDIX C  
 BITUACH HAKLAI  
  

			
	 CENTRAL COOPERATIVE SOCIETY LTD.

941204 CaesarStone and/or Marble
	  	Copy for insured

 SCHEDULE CONSTITUTING AN INTEGRAL PART OF AN ALL-RISKS INSURANCE POLICY — INDUSTRY 

 

							
	 	  	 	  	US dollar	 
	 Branch: 20 Policy: 92412041/10 Endorsements: 0
	  	Net premium	  	 	356,196.00	  
		  	Registration fees	  	 	.00	  
	 Name of insured:
	  	Policy fees	  	 	.00	  
	 Even Kesar and/or as stated below: CAESARSTONE
	  	Levies	  	 	.00	  
	 Address:     D.N. Menashe 38805
	  		  	 	.00	  
	 Kibbutz Sdot Yam Postal Code: 38805
	  		  			
	 Insurance period: from April 1, 2010 at: 00:01
	  		  			
	
                        
        until September 30, 2011 at: 24:00
	  		  			
		  		  	  
	  
	 
	 I.D. /Priv. Co.:
	  	Total for payment	  	 	356,196.00	  

 For the policy owner’s attention: 
 The details mentioned in the schedule are based on the information given to the insurer in the application for effecting the insurance. The provisions of the Insurance Contract Law, 5741-1981 will apply
to a non-compliance with the obligation to disclose a material matter. 
  

							
	 Description of the cover
	  	Sum insured	  	Rate of
premium	  	Annual
premium

 ** All risks in US dollars ** 
 The cover is in accordance with the terms and conditions
of an all-risks insurance policy – industry – edition 01/09 
 The cover will apply in the State of Israel and in the occupied areas
only, unless otherwise expressly stated in the policy or in the Schedule. 
 Chapter 1 – All-risks insurance 

Name of insured 
 CaesarStone
Sdot Yam Ltd. and/or CaesarStone Quartz Surfaces Ltd. and/or Sdot Yam. 
 The insured premises 

The premises of the plant at Kibbutz Sdot Yam 
 Bar-Lev Industrial Zone 
 The insured’s business 

Production, import, export, marketing, installation at the customer’s site of CaesarStone, marble slabs, etc. 

  
 1 

																	
	 	  	 	 	  	 	 	  	Rate of	 	 	Annual	 
	 Description of the cover
	  	 	 	  	Sum insured	 	  	premium	 	 	premium	 
	 Part A – loss or damage to property
	  				  				  				 			
	 The property insured
	  				  				  				 			
	 Immovable properties
	  				  	 	20,000,000	  	  	 	1.0670	  	 	 	21,340.00	  
	 Infrastructure expenses
	  				  	 	1,000,000	  	  	 	1.0670	  	 	 	1,067.00	  
	 Inventories
	  				  	 	25,000,000	  	  	 	1.0670	  	 	 	26,675.00	  
	 Other assets
	  				  	 	86,000,000	  	  	 	1.0670	  	 	 	91,762.00	  
		  	 	Total sum insured for Part A	  	  	 	132,000,000	  	  				 			
		  				  	  
	  
	 	  				 			
					
	General extensions	  	 	 	  	Sum
insured
included
above	 	  	 	 	 	 	 
	 Reinstatement value
	  	 	    In force	  	  				  				 			
	 Property off the premises
	  	 	    Up to an amount not exceeding	  	  	 	500,000	  	  				 			
	 Additions to the insured property
	  	 	    Up to an amount not exceeding	  	  	 	500,000	  	  				 			
	 Risk of the insured property
	  	 	    Up to an amount not exceeding	  	  	 	25,000	  	  				 			
	 Assessment clause
	  	 	    In respect of damage not exceeding	  	  	 	50,000	  	  				 			
	 Special expenses
	  	 	    Up to an amount not exceeding	  	  	 	30,000	  	  				 			
	 Agreed limits of liability
	  				  				  				 			
	 Expenses for removal of demolition debris
	  	 	    Up to an amount not exceeding	  	  	 	250,000	  	  				 			
	 Expenses for reconstruction of documents
	  	 	    Up to an amount not exceeding	  	  	 	25,000	  	  				 			
	 Architects’ expenses
	  	 	    Up to an amount not exceeding	  	  	 	250,000	  	  				 			
	 Loss of contents of tanks
	  	 	    Up to an amount not exceeding	  	  	 	50,000	  	  				 			
	 Special extensions for Part A
	  				  				  				 			
	 Burglary and robbery
	  	 	    Up to an amount not exceeding	  	  	 	200,000	  	  				 	 	1,000.00	  
	 DIC
	  				  	 	1,000,000	  	  				 			
		  	 	Total insurance fees before discount	  	 	 	141,844.00	  
	 Insured’s deductibles
	  				  				  				 			
	 Deductible — $10,000 except earthquake and other
natural damage
	  				  				  	 	30.00	% 	 	 	-42,553.20	  
	 Earthquake – as described in the policy form.
	  				  				  				 			
	 Other natural damage – 5% of the insurance compensation
	  	 	minimum	 	  	$	10,000	  	  				 			
		  	 	maximum	 	  	$	50,000	  	  				 			
		  				  				  				 	 	-45,000.00	  
		  	 	Total Part A	  	  				  				 	 	54,290.80	  
	 Loss of profits – Part B
	  				  				  				 			
	 Gross annual profit
	  				  	 	70,000,000	  	  	 	1.0670	  	 	 	74,690.00	  
	 Period of indemnity – 12 months
	  				  				  				 			
	 Costs of preparing claim
	   
	  	 	250,000	  	  	 	1.0670	  	 	 	267.00	  

  
 2 

															
	 	  	 	 	  	Rate of	 	 	Annual	 
	 Description of the cover
	  	Sum insured	 	  	premium	 	 	premium	 
	 Insured’s deductible
	  				  		  				 			
	 The deductible for the loss of profits chapter will be:
	  				  		  				 			
	 Amount of compensation 200 hours, $200000, apart from earthquake and other natural damage as described in the
policy.
	  				  		  				 			
	 * Discount
	  				  		  				 	 	-25,000.00	  
	 Special conditions
	  				  		  				 			
	 Deductible in respect of natural damage in relation to consequential loss chapter will be 5% of the insurance compensation and
not less than $50,000.
	  				  		  				 			
	 Total premium for consequential loss chapter
	  				  		  				 	 	49,957.00	  
	 The cover under Chapter 1 will not apply to chapters or sub-paragraphs mentioned in the Schedule, for which no cover was
bought
	  				  		  				 			
	 Natural damage insurance (excluding earthquake) – Chapter A and B
	  				  		  				 			
	 Total sum insured Part
A                132,000,000
	  	 	Included above	  	  		  				 			
	 Total sum insured Part
B                70,250,000
	  	 	Included above	  	  		  				 	  
	  
	 
	 Total insurance fees in respect of natural damage
	  				  		  				 			
	 Earthquake insurance (Part A             and Part B)
	  				  		  				 			
	 It is hereby declared and agreed that earthquake cover, if purchased, is limited to the area of the State of Israel only, unless
otherwise expressly stated in the Schedule
	  				  		  				 			
	 Total sum insured part
A                132,000,000
	  				  		  	 	.60	% 	 	 	79,200.00	  
	 Total sum insured part
B                70,250,000
	  				  		  	 	.60	% 	 	 	42,150.00	  
		  				  		  				 	  
	  
	 
	 Total insurance fees in respect of earthquake
	  				  		  				 	 	121,350,00	  
	 Total insurance fees per annum Chapter 1 (Parts A + B)
	  				  		  				 	 	225,597.55	  
		  				  		  				 	  
	  
	 
	 Discount
	  				  		  				 	 	-51,601.00	  
	 Special Discount
	  				  		  				 			

 Special conditions for Policy No. 9241204110 

Obligation for giving prior notice to the beneficiary  
 In every case in which this policy is subject to the giving of advance notice to any beneficiary (bank, etc....) this policy will be deemed to be void only from the end of the advance notice period
specified in the Schedule and/or in any endorsement to the policy. 

  
 3 

													
	 Description of the cover
	  	Sum insured	 	  	Rate of
premium	 	 	Annual
premium	 
	 Chapter 2 – Terrorism risk insurance (over and above Property
Tax)
	   
	 			
	 Unless otherwise expressly stated in this chapter, if purchased, limited to properties located within the borders of the State of
Israel on June 6, 1967 (the Green Line)
	  				  				 			
	 Part A – Loss or damage to property
	  				  				 			
	 Sum insured
	  	 	132000,000	  	  	 	.35	% 	 	 	46,200.00	  
	 Insured’s deductible 25000         in every insurance event
	  				  				 			
	 Part B – Loss of profits
	  				  				 			
	 The insurance basis
	  	 	70,250,000	  	  	 	.35	% 	 	 	24,587.50	  
	 Deductible         first 5 working days after occurrence of the insurance
event.
	  				  				 			
	 It is hereby agreed and declared that the cover is restricted to limits of liability that shall not exceed a sum of $20,000,000
for one event and in total for the entire insurance period
	  				  				 			
	 Total insurance fees per annum (Parts A + B)
	  				  				 	 	70,787.50	  
		  				  				 	  
	  
	 
	 The cover under Chapter 2 will not apply to chapters or sub-paragraphs mentioned in the Schedule, for which cover was not
purchased
	  				  				 			
	 Chapter 3 – Insurance of Property in Transit
	  				  				 			
	 Property in transit         Limits of liability
	  				  	 	80,000	  	 	 	575.00	  
	 The cover under the policy includes transportation by others.
	  				  				 			
	 Insured’s deductible for Chapter 3 $750 for each insurance event
	  				  				 			
		  				  				 	  
	  
	 
	 Total for Chapter 3:
	  				  				 	 	575.00	  
	 If the insured cargo is a product and/or receptacle made of glass, porcelain, marble or ceramics, the insured shall, in every
insurance event as aforesaid, bear double the amount of the insurance’s deductible specified in the Schedule.
	  				  				 			
	 The cover under Chapter 3 will not apply to chapters or sub-paragraphs mentioned in the Schedule for which cover was not
purchased.
	  				  				 			

  
 4 

													
	 Description of the cover
	  	Sum insured	 	  	Rate of
premium	 	 	Annual
premium	 
	 Chapter 4 – Electronic Hardware Insurance
	  				  				 			
	 Chapter 4: Electronic hardware not in force
	  				  				 			
	 Special extension
	  				  				 			
	 Chapter 5 – Insurance of Cash in Safe and in Transit
	  				  				 			
	 The moneys insured: cash in bank notes and in coins, checks, credit vouchers, bills, postal orders, postage stamps, account and
revenue stamps, purchase vouchers, securities, shares and negotiable instruments of any type in the ownership of the insured and/or for which the insured is liable on the occurrence of the insurance event.
	  				  				 			
	 Money in safe and in transit
	  	 	200,000	  	  				 			
	 Cash:
	  				  				 			
	 Theft:
	  				  				 			
	 Total premium for money in safe and in transit
	  	 	200,000	  	  	 	1.00	% 	 	 	2,000.00	  
	 Insured’s deductible
	  				  				 			
	 It is hereby agreed and declared that the deductible for this chapter is 1,500 dollars for each insurance event.
	  				  				 			
	 Special conditions for Chapter 5
	  				  				 			
	 1. It is hereby agreed and declared that the cover granted pursuant to this policy is on the basis of first damage which
is not subject to conditions of under-insurance.
	  				  				 			
	 2. It is hereby agreed and declared that liability is for each safe separately, according to limits of liability as
selected by the insured and under all circumstances the maximum limited liability in a safe and/or in transit for cash and/or checks shall not exceed $100,000.
	  				  				 			
	 3. It is hereby agreed and declared that Members who deposit personal money in the safe of the Kibbutz are obliged to
give details and to present the contents of the envelope to the person responsible for insurance / person responsible for the safe, coupled with the maintaining of suitable records.
	  				  				 			
	 4. Areas of transit = transit from one place to another in the ordinary course of business in the area of the State of
Israel and the occupied areas. The abovementioned transit requires to be made only from the hour of 05:00 until 22:00 by the insured or a person employed in the insured’s business and was sent by the insured for transfer of the money –
whose age shall not be less than 17 years.
	  				  				 			
	 Total for Chapter 5
	  				  				 	 	2,000.00	  
	 The cover under Chapter 5 will not apply to chapters or sub-paragraphs mentioned in the Schedule for which cover was not
purchased.
	  				  				 			

  
 1 

							
	 Description of the cover
	  	Sum insured	  	Rate of
premium	  	Annual
premium
	 Chapter 6 – Mechanical Breakdown Insurance
	  		  		  	

  

									
	 Chapter 6:         Mechanical breakdown
	  	 	Not in force	  	  			
			
	 Total insurance fees for all chapters of the policy:
	  				  	 	247359.05	  
		  				  	  
	  
	 

  

									
	 Description of the cover
	  	Sum insured	  	Rate of
premium	  	Annual
premium	 
	 Classification differences in terrorism chapter
	  		  		  	 	-10,112.00	  
	 One-time discount
	  		  		  			
	 Total annual premium
	  		  	 	237,247.30	  
	 for a period of 548 days
	  	 	356,196.00	  

 Bituach
Haklai                                 

Central Cooperative Society Ltd.                 

Date of printing: May 25, 2010 (repeat printing on May 25, 2010) 
 Month of Bordeaux: 05/2010                     Keyed in by: 00291 confirmed by: 291 

Copy for insured 
 Name of agent:
Yishirim                                    

  
 2 

			
	 BITUACH HAKLAI
	  	
		
	 CENTRAL COOPERATIVE SOCIETY LTD.
	  	
	 941204 CaesarStone and/or Marble
	  	Copy for insured

 SCHEDULE CONSTITUTING AN INTEGRAL PART OF THIRD PARTY LIABILITY 

INSURANCE POLICY – BUSINESS / INSTITUTIONAL 
  

							
	 	  	 	  	US dollar	 
	 Branch: 612 Policy: 92412041/10 Endorsements: 0
	  	Net premium	  	 	2,574.85	  
		  	Registration fees	  	 	.00	  
	 Name of insured:
	  	Policy fees	  	 	.00	  
	 CaesarStone Sdot Yam Ltd. and/or CaesarStone Quartz Surfaces Ltd. and/or Sdot Yam:
	  	Levies	  	 	.00	  
	 Address:    D.N. Menashe 38805
	  		  	 	.00	  
	                  Kibbutz Sdot Yam Postal Code: 38805	  		  			
	 Insuranceperiod: from April 1, 2010 at: 00:01
	  		  			
	     until September 30, 2011 at: 24:00
	  		  			
		  		  	  
	  
	 
	 I.D. /Priv. Co.:
	  	Total for payment	  	 	2,574.85	  

 For the policy owner’s attention: 
 The details mentioned in the schedule are based on the information given to the insurer in the application for effecting the insurance. The provisions of the Insurance Contract Law, 5741-1981 will apply
to a non-compliance with the obligation to disclose a material matter. 
  

							
	 Description of the cover
	  	Sum insured	  	Rate of premium	  	Annual premium

 ** All risks in US dollars ** 
 The cover is in accordance with the terms and
conditions of a third party liability 
 insurance policy – business / institutional – edition 01/09 

The cover will apply in the State of Israel and in the occupied areas only, unless 

otherwise expressly stated in the policy or in the Schedule. 
 Name of insured 
 CaesarStone Sdot Yam Ltd. and/or CaesarStone Quartz Surfaces Ltd. and/or Sdot
Yam. 
 Business of the insured 

This policy covers the insured in its capacity as a business trading in the area of the State, in the fields of activity mentioned below, including
related activities and services of any sort: 
 Business: Production, import, export, marketing and installation at customer’s site of
CaesarStone products, marble products, paving, etc. 
  

	-	Other commercial activities 

 It
is hereby agreed and declared that the insurance under this policy is extended to cover the insured’s lawful liability to a third party in respect of: 

											
	 Description of the cover
	  	 Sum insured
	  	Rate of
premium	 	  	Annual
premium	 
	 1.      The branch of the plant which is located in the Bar-Lev Industrial Zone
	  		  				  	 	525.00	  
				
	 Insurer’s limits of liability
	  		  				  			
				
	 a)      In respect of one occurrence of damage
	  		  	$	10,000,000 .-	  	  			
	 b)      Total compensation during the insurance period
	  		  	$	10,000,000 .-	  	  			
				
	 Insured’s excess
	  		  				  			
		  		  				  			
	 The insured will bear an amount equivalent to the first $2,500 in respect of any damage insured, where this amount is converted into
shekels on the date of payment of the claim.
	    
	  			
				
		  	 Total annual premium
	  				  	 	1,715.00	  
		  	 for a period of 548 days
	  				  	 	2,574.85	  

  

					
		  		  	 Bituach Haklai
 Central Cooperative Society Ltd.

  

					
	 Date of printing: May 6, 2010
 Month of Bordeaux: 05/2010
	  	Keyed in by: 00507 confirmed by: 507	  	
	                    Copy for insured	  		  	Name of agent: Yishirim

  
 2 

 APPENDIX D  

 

																					
	 Description
	  	Date of initial
operation	 	  	Opening
balance cost
0
Opening balance
2010 in shekels	 	  	Additions this 
year
0
01.10-12.10
in shekels	 	  	Total cost
0
T4+T6-T7	 	  	Total project	 
	 Construction of marketing and sales office — 2nd floor
	  	 	Dec.1, 2008	  	  	 	3,777,184	  	  	 	0	  	  	 	3,777,184	  	  	 	Total 1	  
	 Change of head office operations offices (Noam)
	  	 	Dec.1, 2008	  	  	 	173,302	  	  	 	0	  	  	 	173,302	  	  	 	Total 2	  
	 Construction of Concetto changerooms and washrooms
	  	 	Dec.1, 2008	  	  	 	63,624	  	  	 	0	  	  	 	63,624	  	  	 	Total 3	  
	 Construction of auxiliary materials and paints storeroom
	  	 	Dec.1, 2008	  	  	 	165,437	  	  	 	0	  	  	 	165,437	  	  	 	Total 5	  
	 Change of R&D offices
	  	 	Dec.1, 2008	  	  	 	324,996	  	  	 	0	  	  	 	324,996	  	  	 	Total 6	  
	 Drainage project
	  	 	Dec.1, 2008	  	  	 	429,697	  	  	 	0	  	  	 	429,697	  	  	 	Total 7	  
	 Change of roof — raising height for silos
	  	 	Dec.15, 2008	  	  	 	965,290	  	  	 	0	  	  	 	965,290	  	  	 	Total 8	  
	 Alteration of laboratory + sorting rooms and quality assurance
	  	 	Nov.11, 2008	  	  	 	262,119	  	  	 	0	  	  	 	262,119	  	  	 	Total 9	  
	 Adapting east area for storage of finished products
	  	 	Sep. 30, 2007	  	  	 	2,479,983	  	  	 	0	  	  	 	2,479,983	  	  	 	Total 10	  
	 Enlargement of samples plant + washrooms and change rooms + offices
	  	 	Mar. 1, 2008	  	  	 	2,304,645	  	  	 	49,819	  	  	 	2,354,464	  	  	 	Total 12	  
	 Management office building + laboratory 2004-5
	  	 	Apr. 1, 2004	  	  	 	5,003,736	  	  	 	0	  	  	 	5,003,736	  	  	 	Total 21	  
	 Construction of offices (accounts department of Kibbutz) and raw materials storeroom
	  	 	Nov. 1, 2009	  	  	 	n	  	  	 	0	  	  	 	#VALUE!	  	  	 	Total 22	  
		  				  				  				  	 	0	  	  			
		  				  	 	17,502,674	  	  	 	49,819	  	  	 	17,552,493	  	  	 	Grand total	  
						
	 Asphalting of eastern surface 2010
	  	 	        Oct. 1, 2010	  	  				  	 	322,000	  	  	 	322,000	  	  			
	 Improvements and renovations to buildings 2010
	  	 	Jan.-Oct., 2010	  	  	 	113,380	  	  	 	134,853	  	  	 	248,233	  	  			
						
	 Overall total
	  				  	 	17,616,054	  	  	 	506,672	  	  	 	18,122,726

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00199-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00199-of-00352.parquet"}]]