Document:

Exhibit 10.2

Exhibit 10.2

AMENDMENT NO. 1 to

STOCK PURCHASE AGREEMENT

THIS AMENDMENT NO. 1 to STOCK PURCHASE AGREEMENT made as of May 25, 2007 (the “Agreement”), among SK3 Group, Inc. (formerly CTT International Distributors Inc.), a corporation existing under the laws of Delaware, Reliablecom Inc., a corporation existing under the laws of Delaware, The Phone Card Warehouse, Inc., a corporation existing under the laws of Florida (“TPC”), Pradip Patel and the shareholder of TPC.

Section 3.2(a) of the Agreement is hereby amended to read in its entirety as follows:

(a)

At the election of the Seller or the Purchaser on or after July 31, 2007, if the Closing shall not have occurred by the close of business on such date, provided that the terminating party is not in default of any of its obligations hereunder;

All other terms and conditions of the Agreement remain in full force and effect and this agreement shall be governed by all other terms contained therein.

 [Remainder of page intentionally left blank.]

IN WITNESS WHEREOF the parties have executed this agreement effective as of June 26, 2007.

 SK3 GROUP, INC.

By:­

/s/ SAJID KAPADIA

Sajid Kapadia

President

RELIABLECOM  INC.

By:

/s/ SAJID KAPADIA

Sajid Kapadia

President

THE PHONE CARD WAREHOUSE, INC.

By:

/s/ KAUSHIKA PATEL

Kaushika Patel

President

SELLER:

/s/ KAUSHIKA PATEL

Kaushika Patel

/s/ PAREDIP PATEL 

Pradip Patel

2Exhibit 10.3

Exhibit 10.3

AMENDMENT NO. 1 to

STOCK PURCHASE AGREEMENT

THIS AMENDMENT NO. 1 to STOCK PURCHASE AGREEMENT made as of May 9, 2007 (the “Agreement”), among SK3 Group, Inc. (formerly CTT International Distributors Inc.), a corporation existing under the laws of Delaware, Reliablecom Inc., a corporation existing under the laws of Delaware, Sohel Distributors Inc., a corporation existing under the laws of New York (“SDI”), and the shareholder of SDI.

1.

Section 2.1 of the Agreement is hereby amended to read in its entirety as follows:

 Amount of Purchase Price. 

The purchase price for the Shares shall be: (i) the issuance to the Seller of Eighty Five Thousand (85,000) shares of series A convertible preferred stock, $.001 par value per share of Parent (the “Parent Preferred Stock”); and (ii) an earn-out of additional compensation calculated as set forth herein (the “Purchase Price”).  Certificates representing the Parent Preferred Stock shall be registered in the name of the Seller and delivered to the Seller upon the Closing.  

For a period of three years from the Closing date, within fifty (50) days after the end of each of the Company’s first three fiscal quarters, the Company’s Chief Financial Officer shall prepare quarterly financial statements in accordance with generally accepted accounting principals (“GAAP”).  Such financial statement shall include a calculation of the Company’s net profit for quarter in accordance with GAAP and after deduction for accounts receivable which have been outstanding for more than 45 days (“Quarterly Net Profit”).  The Seller shall be paid an amount, if any, by which 50% of the Quarterly Net Profit exceeds $37,500 (each, a “Quarterly Payout”).  Within one hundred five (105) days after the end of the Company’s fourth fiscal quarter, the Company shall prepare an annual financial statement in accordance with GAAP. Such financial statement shall include a calculation of the Company’s net profit for year in accordance with GAAP and after deduction for accounts receivable which have been outstanding for more than 45 days (“Annual Net Profit”).  The Seller shall be paid an amount, if any, by which 50% of the Annual Net Profit exceeds $150,000, plus all Quarterly Payouts for such fiscal year.  In the event the Company does not have a net profit based on the Quarterly Net Profits and Annual Net Profit, the aggregate loss for such period shall be carried forward to the following fiscal year.  All payments shall be made within fifteen (15) days of delivery of the quarterly financial statements and profit calculation to the Seller.  The Seller shall not be entitled to any payments for periods ending more than three years after the Closing Date.

As part of the Purchase Price, the Company agrees to pay to the Seller all sums received from the United States Federal Government on account of Federal Excise Tax overpayments made by the Company prior to the Closing Date (the “FET Overpayments”) provided that:

(a)

all costs incurred by the Company in collecting the FET Overpayments (“Collection Costs”) shall be deducted from the amount paid to the Seller under this Section, prior to any such payments being made;

(b)

in the event that the Company does not collect any monies on account of FET Overpayments in the three year period following the Closing Date, the Seller and Patel shall reimburse the Company for all Collection Costs incurred by the Company;

(c)

the Seller and Patel shall, as far as reasonably possible, use outside contractors to assist them in collecting the FET Overpayments with a goal of eliminating the impact of collecting the FET Overpayments on the business and affairs of the Company; and

(d)

collecting the FET Overpayments will not have a significant negative impact on the business and affairs of the Company nor will collecting the FET Overpayments result in either Seller or Patel breaching the terms and conditions of their respective employment agreements with the Company.

2.

Section 3.2(a) of the Agreement is hereby amended to read in its entirety as follows:

(a)

At the election of the Seller or the Purchaser on or after July 31, 2007, if the Closing shall not have occurred by the close of business on such date, provided that the terminating party is not in default of any of its obligations hereunder;

All other terms and conditions of the Agreement remain in full force and effect and this agreement shall be governed by all other terms contained therein.

 [Remainder of page intentionally left blank.]

2

IN WITNESS WHEREOF the parties have executed this agreement effective as of June 26, 2007.

SK3 GROUP, INC.

By:

/s/ SAJID KAPADIA

Name:  Sajid Kapadia

Title:    President

RELIABLECOM  INC.

By:

/s/ SAJID KAPADIA

Name:  Sajid Kapadia

Title:    President

SOHEL DISTRIBUTORS INC.

By:

/s/ SOHEL KAPADIA

Sohel Kapadia

President

SELLER:

/s/ SOHEL KAPADIA

Sohel Kapadia

320-F

Exhibit 10.1  

Consent of Independent
Registered Public Accounting Firm 

We consent to the incorporation by
reference in the Registration Statements (Forms S-8 333-54356, 333-117849 and 333-136633)
pertaining to the 2003 Share Option Plan of Ceragon Networks Ltd. of our report dated June
27, 2007 with respect to the consolidated financial statements of Ceragon Networks Ltd.
and subsidiaries included in the Annual Report (Form 20-F) for the year ended December 31,
2006. 

		
		
		
		
		
	 	/s/ KOST FORER GABBAY and KASIERER 
	Tel-Aviv, Israel	KOST FORER GABBAY and KASIERER
	June 27, 2007	A Member of Ernst & Young Global20-F

Exhibit 4.41  

Share Purchase
Agreement  

Dated as of 26 day of
April, 2007 

between 

Mapa Publishers
Holding B.V. 

and 

E-Com Global
Electronic Commerce Ltd. 

SHARE PURCHASE AGREEMENT  

        THIS
SHARE PURCHASE AGREEMENT (the “Agreement”) shall be effective as of the
26 day of April, 2007 (the “Signature Date”) by and between Mapa
Publishers Holdings B.V., a company incorporated under the laws of The Netherlands and
having an office at Gebouw Rivierstate, Suite 3.20, Amsteldijk 166, 1079 LH Amsterdam, The
Netherlands (the “Seller”) and on the other part E-Com Global Electronic
Commerce Ltd. P.C 512691767 , a company incorporated in Israel of 3 Hashikma Street, Azor,
Israel (“Purchaser”); (each of the Seller and the Purchaser is referred
to herein as a “Party” and collectively as the
“Parties”) 

	Whereas ,		
Seller is the owner of all the issued and outstanding shares of Mapa Internet Ltd., a
company incorporated under the laws of the state of Israel having an office at 17
Tchernikovsky Street, Tel Aviv, Israel (“Internet”); and  

	Whereas,  		Internet
runs a travel, leisure and entertainment internet site at the URL www.mapa.co.il; and 

	Whereas, 		
Seller is the owner of 134 of the 150 issued and outstanding ordinary shares of NIS 10
each of Mapa Mapping and Publishing Ltd., a company incorporated under the laws of the
state of Israel having an office at 17 Tchernikovsky Street, Tel Aviv, Israel (“MMP”);
and  

	Whereas, 		
Dani and Muli are each the owners of 8 of the 150 issued and outstanding ordinary shares
of NIS 10 each of MMP and 1 Management share of the 2 issued and outstanding management
shares of NIS 10 each of MMP;  

	Whereas,  		MMP
has a geographic navigation database of Israel and publishes maps, guides and certain
other                   books in Israel; 

	Whereas, 		Purchaser
wishes to purchase the Sale Shares and the Seller wishes to sell the Sale Shares subject
to the terms and conditions of this Agreement;  

	 	
NOW,
THEREFORE, in consideration of the mutual promises and covenants set forth herein, the
Parties hereto agree as follows: 

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	1. 	Definitions
and Schedules

	 	1.1. 	The
preamble and the Schedules to this Agreement form an integral part hereof. 

	 	1.2. 	The
titles in this Agreement are intended for convenience purposes only and they           do
not have and shall not be ascribed any weight in the interpretation hereof. 

	 	1.3. 	In
this Agreement, the terms defined below shall be given the meaning found
          alongside thereof: 

	 	
“Accounts” means
the audited accounts of each of the Subsidiaries for the twelve month period ended on the
Accounts Date. 

	 	
“Accounts
Date” mean 31 December, 2006.  

	 	
"Business
Day" means: Sundays to Thursdays, save for religious festivals and public holidays in
the State of Israel;  

	 	
"Dani"
means: Mr. Dani Tracz. I.D  067236547 of 15 Melchet Street, Tel Aviv, Israel. 

	 	
“Disclosure
Letter” means a schedule of exceptions to the representations and warranties of
the Seller set forth in Schedule 7 and other items as set forth herein, delivered
contemporaneously with this Agreement. 

	 	
“Encumbrance” means
any lien, pledge, claim, charge, mortgage, or other security interest of any kind,
whether arising by contract or by operation of Law. 

	 	
“Group” means:
in relation to a Person, that Person, any other entity on its behalf, a company of which
it is a subsidiary (its holding company) and any other subsidiaries of any such holding
company; and each company in a Group is a member of the Group. 

	 	
“Governmental
Authority ” shall mean an administrative agency or commission or other
governmental or other regulatory authority or agency. 

	 	
“Intellectual
Property Rights” means any (i) Patents, (ii) Marks, (iii) Copyrights, (iv) trade
secrets, confidential information or know-how, (v) software or computer programs, or (vi)
other intellectual property or proprietary rights. 

	 	
“Internet
Loan” means a loan in the total amount of US$ 1,660,558.13 which Internet owes
to Mr Vitek Tracz. 

	 	
“Material
Contracts” is defined in Clause 7.29 of this Agreement.  

	 	
“MMP
Loans” means (a) a loan in the total amount of US$ 1,167,296.87 which MMP owes to
Vitek Tracz and (b) a loan in the total amount of US$ 300,000 which MMP owes to The Vidal
Trust. 

	 	
“Muli” means:
Mr Muli Meltzer, I.D 07062052 of 5 Wilson Street, Tel Aviv, Israel  

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“Person” means:
an individual, corporation, partnership, limited liability company, joint venture,
association, trust, Governmental Entity, unincorporated organization or other entity. 

	 	
“Properties” means
all the leasehold properties listed in Schedule 7.40 to this Agreement.  

	 	
“Purchaser” is
defined in the caption of this Agreement;  

	 	
“Relevant
Period” means period of 12 months prior to Signature Date.  

	 	
“Sale
Shares” – 200 ordinary shares of Internet, with a par value NIS 1.00 each
and 150 ordinary shares of MMP, with a par value NIS 10.00 each, and 2 management share
of MMP with a par value NIS 10.00; 

	 	
“Seller”is
defined in the caption of this Agreement.  

	 	
“Subsidiary” means:
MMP or Internet separately.  

	 	
“Subsidiaries” means:
MMP and Internet collectively.  

	 	
“Tax” means
all state, local and foreign income, property, sales, excise, withholding and other
taxes, tariffs or governmental charges of any nature whatsoever, together with all
interest, penalties and additions imposed with respect to such amounts  

	 	
“Warranties” means
the warranties as detailed in paragraph 7.  

	 	
“Warranty
Claim” means any claim made against the Seller in connection with a Warranty;  

	2.  	The
Transaction  

	 	
The
Seller, Dani and Muli agree to sell, assign and transfer to the Purchaser the Sale Shares
set out next to their name in Schedule 5.2.1 and the Purchaser agrees to purchase the
Sale Shares and in addition, the Purchaser shall procure, within 7 days after the Closing
Date, that the Subsidiaries shall repay the MMP Loans and the Internet Loan to Mr Vitek
Tracz and The Vidal Trust.  

	 	
Sale
and purchase of the Sale Shares  

	 	
Subject
to the terms and conditions of this Agreement, each of the Seller, Dani and Muli shall
sell the Sale Shares set out next to their name in Schedule 5.2.1, and the Purchaser
shall purchase, the Sale Shares.  

	 	2.1. 	The
Seller, Dani and Muli: 

	 	2.1.1. 	have
the right to sell the Sale Shares set out next to their name in Schedule           5.2.1
on the terms set out in this agreement;  

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	 	2.1.2. 	shall
, at their own cost give the Purchaser the full legal and beneficial title           to
the Sale Shares set out next to their name in Schedule 5.2.1; and  

	 	2.1.3. 	sell
the Shares set out next to their name in Schedule 5.2.1 free from all
          Encumbrances.  

	 	2.2. 	No
commitment has been given to create an Encumbrance affecting the Sale Shares
          (or any unissued shares or debentures or other unissued securities of
          Subsidiaries), or for Subsidiaries to issue any share capital and no person has
          claimed any rights in connection with any of those things. 

	 	2.3. 	The
Sale Shares are sold with all rights that attach, or may in the future           attach,
to them (including, in particular, the right to receive all dividends           and
distributions declared, made or paid on or after the Signature Date). 

	 	
Purchase
Price  

	 	2.4. 	The
purchase price for the Sale Shares is US$9,872,145 as detailed in Schedule 2.4 (the
“Purchase  Price”). 

	 	
Loans
Repayments  

	 	2.5. 	In
addition, subject to the terms and conditions of this Agreement, the           Purchaser
shall procure within 7 days after the Closing Date, that the           Subsidiaries shall
repay to Mr Vitek Tracz that part of the MMP Loans due to           Vitek Tracz and the
Internet Loan and shall repay to the Vidal Trust that part           of the MMP Loans due
to the Vidal Trust. 

	3.  	Signature
Date  

	 	
On
the Signature Date the Parties shall take the following actions, all of which shall be
deemed to have occurred simultaneously:  

	 	3.1. 	The
Seller shall deliver to the Purchaser: 

	 	
a
certified copy of the resolution  adopted by the board of directors of the Seller
 authorizing  the                   Agreement; 

	 	3.2. 	The
Purchaser shall: 

	 	
deliver
to the Seller a certified copy of the resolution adopted by the board of directors of the
Purchaser authorizing the Agreement.; 

	4. 	Condition
to Closing

	 	4.1. 	The
obligations under this Agreement are conditional upon and subject to the
          following conditions precedent: 

	 	4.1.1. 	the
approval by the Director General of the Antitrust Authority of the State of
          Israel of the transaction contemplated hereunder.  

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	 	4.1.2. 	the
issue by the Israeli Tax Authorities of a withholding tax exemption           certificate
with respect to the Purchase Price payable to the Seller in a form           acceptable
to the Seller.  

	 	4.2. 	If
the above-mentioned conditions precedent set out in clause 4.1 is not           fulfilled
within 90 days from the date hereof, this Agreement shall become null           and void,
unless the Parties hereto agree in writing to extend the date for           fulfillment
of the aforesaid condition precedent. 

	 	4.3. 	The
Parties shall use all reasonable endeavors so far as lies within their
          respective powers to procure that the condition is satisfied as soon as
          practicable. 

	5. 	Closing

	 	5.1. 	The
closing of the purchase and sale of the Sale Shares and repayment of Loans           as
detailed in paragraph 2 above (the “Closing”) shall take           place
by no later than 10 Business Days after the satisfaction (or waiver) of           the
condition set forth in paragraph 4 above or such other date and time as           shall
be mutually agreed by the Parties (the “Closing Date”) at           the
offices of thePurchaser or such other place as shall be mutually           agreed
to by the Parties. 

	 	5.2. 	At
the Closing, the Parties shall take the following actions, all of which shall
          be deemed to have occurred simultaneously: 

	 	
The
Purchaser shall:  

	 	5.2.1. 	pay
to (i) Seller and (ii) Dani and (iii) Muli the Purchase Price in immediately
               available funds all in consideration for the purchase of the Sale Shares,
to                their bank accounts as detailed in Schedule 5.2.1.  

	 	5.2.2. 	Release
Dani and Muli from the personal guarantees and promissory note as                detailed
in section 7.22.6 of the disclosure letter.  

	 	5.2.3. 	ensure
and procure that the Subsidiaries will, within 7 days after the
               Closing Date, repay the Internet Loan and the MMP Loans as detailed in
paragraph                2.5, to their bank accounts set out next to their name in
Schedule 5.2.3.  

	 	
Seller,
Dani and Muli shall:  

	 	5.2.4. 	transfer
the Sale Shares to the Purchaser through the execution of the Deeds of
               Transfer in the Form attached as Schedule 5.2.4 (“the Deeds of
               Transfer”).  

	 	5.2.5. 	deliver
to the Purchaser the resignation of Dani Tracz as a director of MMP.  

	 	5.2.6. 	deliver
to the Purchaser the resignation of Dani Tracz as a director of                Internet.  

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	 	5.2.7. 	deliver
to the Purchaser the resignation of Mulli Meltzer as a director of MMP.  

	 	5.2.8. 	deliver
to the Purchaser a written approval, as detailed in Schedule 5.2.8,
               executed by Vitek Tracz and Internet confirming that except for the
Internet                Loan, there are no other loans between Vitek Tracz and Internet
and subject to                the full repayment of the Internet Loan Vitek Tracz does
not have any claims or                demands against Internet regarding the Internet
Loan;  

	 	5.2.9. 	deliver
to the Purchaser a written approval, as detailed in Schedule 5.2.9,
               executed by Vitek Tracz and MMP confirming that except for the MMP Loan,
there                are no other loans between Vitek Tracz and MMP and subject to the
full repayment                of the MMP Loan Vitek Tracz does not have any claims or
demands against MMP                regarding the MMP Loan;  

	 	5.2.10. 	deliver
to the Purchaser a written approval, as detailed in Schedule 5.2.10,
               executed by Investec Trust (Switzerland) SA as Trustee of the Vidal Trust
and                MMP confirming that except for the MMP Loan, there are no other loans
between                the Vidal Trust and MMP and subject to the full repayment of the
MMP Loan Vidal                Trust does not have any claims or demands against MMP
regarding the MMP Loan;  

	 	5.2.11. 	deliver
to the Purchaser the personal guarantee of Vitek Tracz as detailed in
               Schedule 6.1.  

	 	
The
Parties shall cause Subsidiaries to acknowledge the transfer of the Shares on the Closing
Date by co-signing the Deed of Transfer and forthwith entering such transfer in
Subsidiaries’ shareholders register. 

	 	5.2.12. 	Within
21 days after the Closing Date Purchaser shall procure that Dani and Muli           are
released by the other parties to such guarantees and promissory note from           their
liability pursuant to the personal guarantees and promissory note as           detailed
in section 7.22.6 of the Disclosure Letter. Until such time as Dani and           Muli
are so released, Purchaser shall indemnify and keep indemnified Dani and           Muli
from and against any liability arising under such guarantees and promissory
          note as detailed in section 7.22.6 of the Disclosure Letter on or after the
          Closing Date.  

	 	5.2.13. 	For
the avoidance of doubt the Seller is responsible to Dani’s and           Muli’s
personal undertaking as detailed in sections 2, 5 and 12.1 and its           schedules.  

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	6. 	Personal
Guarantee

	 	6.1. 	In
order to ensure the Seller’s, obligations, Mr. Vitek Tracz shall sign a
          personal guarantee as detailed in Schedule 6.1. 

	 	6.2. 	In
order to ensure the Purchaser’s obligations Ituran Location and Control
          Ltd. shall sign a guarantee as detailed in Schedule 6.2. 

	7. 	Subsidiaries’ Warranties

	 	
As
of the date hereof, except as otherwise provided in the Disclosure Letter (Schedule 7),
the Seller represent and warrants to the Purchaser that:  

	 	
General
Warranties  

	 	7.1. 	Accuracy
of recitals and schedules

	 	
The
particulars relating to the Subsidiaries set out in the recitals and the schedules to
this agreement are true and accurate. 

	 	7.2. 	Constitutional
Documents

	 	7.2.1. 	The
copy of the Articles of Association, certificate of incorporation, as
               applicable, each as amended or restated, as currently in effect and as in
effect                as of the Signature Date, of each Subsidiary which has been given
to the                Purchaser is accurate.  

	 	7.2.2. 	the
register of members or shareholders, as applicable, and other statutory
               registers of each Subsidiary have been properly kept and no notice or
allegation                that any of them is incorrect or should be rectified has been
received by the                Subsidiaries.  

	 	7.3. 	Organization
and Qualification

	 	
The
Subsidiaries are duly organized, validly existing and in good standing under the laws of
the state of Israel. 

	 	7.4. 	Ownership
of the Subsidiaries’ Shares

	 	7.4.1. 	the
Sale Shares constitute the whole of the issued and allotted capital of the
               Subsidiaries and are fully paid.  

	 	7.4.2. 	Seller
is the sole legal and beneficial owner of the whole allotted and issued
               share capital of each of its Subsidiaries.  

	 	7.4.3. 	The
Subsidiaries’ Shares are free from all Encumbrances.  

	 	7.4.4. 	There
is no right to require any of the Subsidiaries to issue any share capital
               and no Encumbrance affecting any unissued shares or debentures or other
unissued                securities of the Subsidiaries.  

- 8 -

	 	7.4.5. 	No
commitment has been given to create an Encumbrance affecting the
               Subsidiaries’ Shares (or any unissued shares or debentures or other
               unissued securities) of the Subsidiaries or for them to issue any share
capital                and no person has claimed any rights in connection with any of
those things.  

	 	7.4.6. 	The
Subsidiaries do not hold or beneficially own, nor have agreed to acquire,
               any securities of any corporation.  

	 	7.4.7. 	no
Person is entitled or has claimed to be entitled to require any Subsidiary to
               issue any share, interest or loan capital either now or at any future date
               whether contingently or not.  

	 	7.5. 	 Associations and Branches

	 	
no
Subsidiary: 

	 	7.5.1. 	holds
or beneficially owns or has agreed to acquire after Signature Date any
               securities, or ownership interest, of any other business or corporation
(whether                incorporated in the State of Israel or elsewhere; or  

	 	7.5.2. 	is
or has agreed to become a member of any partnership (whether incorporated or
               unincorporated) or other unincorporated association, joint venture or
consortium                (other than recognised trade associations).  

	 	7.6. 	 Ownership of assets

	 	7.6.1. 	The
Subsidiaries are the full legal and beneficial owner of and have good
               marketable title to all the assets included in the Accounts, and any
assets                acquired since the Accounts Date, except for those disposed of
since the                Accounts Date in the normal course of business.  

	 	7.6.2. 	The
Subsidiaries are in possession and control of all the assets included in the
               Accounts, and those acquired since the Accounts Date, except for those in
the                possession of a third party in the normal course of business.  

	 	7.6.3. 	None
of the assets, undertaking or goodwill of the Subsidiaries is subject to an
               Encumbrance, or to any agreement or commitment to create an Encumbrance,
and no                person has claimed to be entitled to create such an Encumbrance.  

	 	7.6.4. 	the
equipment owned by the Subsidiaries and used in the operation of its
               business are individually and in the aggregate with due consideration for
their                age in good condition and state of repair, reasonable wear and tear
excepted.  

- 9 -

	 	7.6.5. 	the
aggregate assets of each of the Subsidiaries comprise all the assets which
               the Subsidiaries consider necessary for the continuation of its business
as                carried on at the Signature Date.  

	 	7.7. 	Vulnerable
prior transactions

	 	
No
Subsidiary has at any relevant time been party to a transaction pursuant to or as a
result of which an asset owned, purportedly owned or otherwise held by any Subsidiary is: 

	 	7.7.1. 	liable
to be transferred or re-transferred to another Person; or  

	 	7.7.2. 	which
gives or may give rise to a right of compensation or other payment in
               favour of another Person under the law of any relevant jurisdiction or
country.  

	 	7.8. 	 Compliance with statutes

	 	
So
far as the Seller is aware, no Subsidiary, nor any of its officers, agents or employees
(during the course of their duties), has done or omitted to do anything which is a
material contravention of any statute, order, regulation or the like giving rise to any
fine, penalty or other liability or sanction on the part of that Subsidiary. 

	 	7.9. 	Licenses and consents  

	 	
each
Subsidiary has all licenses (including statutory licenses), permits and consents or other
authorizations necessary to own and operate its assets and to carry on its business as it
does at present and none of the Seller is aware of any act, event or omission that is
likely to result in the revocation, suspension or modification of any of those licenses
or consents or that is likely to prejudice their renewal. 

	 	7.10. 	Insider contracts

	 	7.10.1. 	no
Subsidiary is a party to any contract or arrangement in which the Seller or
               any Person connected with him or any member of the Seller’s Group is
               interested, directly or indirectly.  

	 	7.10.2. 	no
Subsidiary is a party to, nor have its profits or financial position during
               the three financial periods ended on the Accounts Date been affected by,
any                contract or arrangement which is not of an entirely arm’s length
nature.  

	 	7.10.3. 	the
Seller nor any Person connected with him nor any member of the Seller’s
               Group is a party to any outstanding agreement or arrangement for the
provision                of finance, goods, services or other facilities to or by any
Subsidiary or in                any way relating to any Subsidiary or its affairs.  

- 10 -

	 	7.10.4. 	no
member of the Seller’s Group is entitled to a claim of any nature
               against the Subsidiaries, or has assigned to any person the benefit of a
claim                against the Subsidiaries to which the member would otherwise be
entitled.  

	 	7.11. 	Litigation

	 	7.11.1. 	no
Subsidiary is engaged in any litigation or arbitration proceedings.  

	 	7.11.2. 	so
far as the Seller is aware, there are no circumstances which are likely to
               give rise to any litigation or arbitration proceedings by or against any
               Subsidiary.  

	 	7.11.3. 	no
Subsidiary has received notice that it is the subject of any investigation,
               inquiry or enforcement proceedings or process by any Governmental
Authority nor,                so far as the Seller is aware, are there any circumstances
which are likely to                give rise to any such investigation, inquiry,
proceedings or process.  

	 	7.11.4. 	no
Subsidiary has received notice or is aware that it is subject to any
               outstanding judgment, decree, writ, injunction or order of any
Governmental                Authority.  

	 	7.11.5. 	no
member of the Seller’s Group is entitled to a claim of any nature
               against the Subsidiaries, or has assigned to any person the benefit of a
claim                against the Subsidiaries to which the member would otherwise be
entitled.  

	 	7.12. 	Insolvency

	 	7.12.1. 	no
receiver or administrative receiver has been appointed in respect of any
               Subsidiary or in respect of the whole or any part of the assets or
undertaking                of any Subsidiary.  

	 	7.12.2. 	no
administration order has been made and no petition has been presented for
               such an order in respect of any Subsidiary  

	 	7.12.3. 	no
meeting has been convened at which a resolution is to be proposed, no
               resolution has been passed, no petition has been presented and no order
has been                made for the winding up of any Subsidiary.  

	 	7.12.4. 	no
Subsidiary has stopped or suspended payment of its debts, become unable to
               pay its debts or otherwise become insolvent in any relevant jurisdiction.  

- 11 -

	 	7.12.5. 	no
unsatisfied judgment, order or award is outstanding against any Subsidiary,
               no written demand under Insolvency legislation has been made against any
               Subsidiary and no distress or execution has been levied on, and no notice
has                been received by any Subsidiary of any other process commenced
against, any                asset of any Subsidiary.  

	 	7.12.6. 	no
voluntary arrangement or scheme of arrangement has been proposed or
               implemented in respect of any Subsidiary nor any scheme for the benefit of
               creditors generally proposed or implemented, whether or not under the
protection                of the court and whether or not involving a reorganization or
rescheduling of                debt.  

	 	7.12.7. 	so
far as the Seller is aware, no circumstances have arisen which entitle any
               Person to take any action, appoint any Person, commence proceedings or
obtain                any order of the type mentioned in the subparagraph above in any
relevant                jurisdiction.  

	 	
ACCOUNTS
AND FINANCIAL  

	 	7.13. 	The
Accounts: 

	 	7.13.1. 	have
been prepared under the historic cost convention and in accordance with
               applicable statutes and regulations;  

	 	7.13.2. 	give
a true and fair view of the state of affairs of the relevant Subsidiary as
               at the Accounts Date and of the profit or loss of the relevant Subsidiary
for                the period ended on the Accounts Date;  

	 	7.13.3. 	contain
either provisions adequate to cover, or particulars in notes, of all
               taxation and other liabilities known to the directors of the relevant
Subsidiary                at the Accounts Date and required to be included or disclosed
in the Accounts;  

	 	7.13.4. 	are
not affected by any unusual or nonrecurring items other than the ordinary
               trading activities of the Subsidiaries.  

	 	7.14. 	Consistency
of Accounts basis

	 	
the
Accounts have been prepared on a basis consistent with the basis employed in the relevant
Subsidiary’s accounts for each of the three preceding financial periods and in
particular: 

- 12 -

	 	7.14.1. 	the
basis of valuation for stocks and work in progress has remained the same in
               respect of the commencement and end of each of the accounting periods of
each                Subsidiary during the period of three years ended on the Accounts
Date or since                the date of its incorporation (whichever period is the
shorter); and  

	 	7.14.2. 	the
rate of depreciation applied in respect of each fixed asset has been
               consistently applied over previous accounting periods of the relevant
Subsidiary                and is considered by the relevant Subsidiary to be adequate to
write down the                value of such fixed asset according to the rates defined in
the Israeli tax                regulation.  

	 	7.14.3. 	other
than as specifically disclosed in the Disclosure Letter, there has been no
               change in the accounting policies or practices of each Subsidiary during
the                period of three years ended on the Accounts Date.  

	 	7.15. 	in
the Accounts:

	 	7.15.1. 	full
provision has been made for redundant, obsolete, unsaleable, deteriorated
               or slow moving stocks; and  

	 	7.15.2. 	the
value attributed to each fixed asset of the relevant Subsidiary does not
               exceed its reduced value as at the Accounts Date.  

	 	7.16. 	Book
debts

	 	7.16.1. 	the
debts included in the Accounts have realized or so far as the Seller is
               aware will realize, in the ordinary course of collection, their nominal
amounts                less any provisions for bad and doubtful debts included in the
Accounts.  

	 	7.16.2. 	all
debt owing to a Subsidiary at the Signature Date will, so far as the Seller
               is aware, in the ordinary course of collection realize its nominal amount.  

	 	7.17. 	Books
and records

	 	
all
accounts, books, ledgers, and other financial records of each Subsidiary:  

	 	7.17.1. 	are
up to date and contain records of all matters required to be entered in them           by
the Israeli law; and  

	 	7.17.2. 	show
with reasonable accuracy the matters which ought to appear in them.  

	 	7.18. 	Position
since Accounts Date

	 	
Since
the Accounts Date, no Subsidiary has:  

	 	7.18.1. 	conducted
its business other than in the ordinary and normal course;  

- 13 -

	 	7.18.2. 	entered
into any unusual contract or commitment or otherwise departed from its
               normal course of trading; and  

	 	7.18.3. 	paid
its creditors other than within the times agreed with them and in
               particular, without limiting the foregoing, no debt owed by any Subsidiary
has                been outstanding for more than 120 days from the date of invoice.  

	 	7.18.4. 	created
or suffered the imposition of any Encumbrance upon any of its assets,
               whether tangible or intangible.  

	 	7.18.5. 	cancelled
any debts or waived any claims or rights in excess of US$ 10,000
               individually or US$ 100,000 in the aggregate.  

	 	7.18.6. 	disposed
of or permitted to lapse any right to the use of any Intellectual                Property
or disposed of or, to the knowledge of Seller, disclosed to any Person                not
authorized to have such information any Intellectual Property not previously
               a matter of public knowledge or existing in the public domain.  

	 	7.18.7. 	amended
any provision of its Articles of Associations or changed any of its
               authorized or issued capital stock.  

	 	7.18.8. 	agreed,
so as to legally bind any of the Subsidiaries whether in writing or
               otherwise, to take any of the actions set forth in this paragraph 7.18.  

	 	7.19. 	Capital
commitments

	 	
Except
as disclosed in the Accounts, no Subsidiary had any commitments on capital account
outstanding at the Accounts Date and since the Accounts Date no Subsidiary has entered
into nor agreed to enter into any capital commitments exceeding US$ 10,000 in the case of
any Subsidiary. 

	 	7.20. 	Dividends
and distributions

	 	7.20.1. 	No
dividend or other distribution of profits or assets has been or agreed to be
               declared, made or paid by any Subsidiary since the Accounts Date.  

	 	7.20.2. 	all
dividends or other distributions of profits or assets declared, made or paid
               since the date of incorporation of each Subsidiary have been declared,
made and                paid in accordance with law and its Articles of Association.  

	 	7.21. 	Bank
borrowings, loan capital and guarantees

	 	
Except
for the Internet Loan and MMP Loans no Subsidiary has outstanding any loan capital or any
money borrowed, including money raised by acceptances or debt factoring, or any liability
(whether present or future) in respect of any guarantee or indemnity in respect of the
obligations of a third party. 

- 14 -

	 	7.22. 	Continuation
of facilities 

	 	
In
relation to any agreement, trust deed, instrument or arrangement under which amounts
disclosed under the paragraph headed “Bank borrowings, loan capital and guarantees” are
outstanding: 

	 	7.22.1. 	the
Seller has supplied to the Purchaser full details of it and true and correct
               copies of all documents relating to it;  

	 	7.22.2. 	there
has not been any contravention of, or noncompliance with, any of its
               terms;  

	 	7.22.3. 	no
steps for the enforcement of any Encumbrance have been taken or threatened;  

	 	7.22.4. 	there
has not been any alteration in its terms and conditions;  

	 	7.22.5. 	so
far as the Seller is aware neither the Seller nor any Subsidiary has done
               anything which might affect or prejudice its continuation;  

	 	7.22.6. 	it
is not dependent on the guarantee of, or on any security provided by, a third
               party; and  

	 	7.22.7. 	it
is not terminable by reason of the sale of the Sale Shares.  

	 	7.23. 	Government
grants

	 	
No
Subsidiary is subject to any arrangement for receipt or repayment of any grant, subsidy
or financial assistance from any Government Authority. 

	 	7.24. 	Loans

	 	
No
Subsidiary has lent any money that has not been repaid to it or owns the benefit of any
debt (whether present or future) other than debts accrued to it in the ordinary course of
its business. 

	 	7.25. 	Bank
accounts  

	 	
The
statement of the Subsidiaries’ bank accounts and of the credit or debit balances
attached to the Disclosure Letter is correct, no Subsidiary has any other bank or deposit
account (whether in credit or overdrawn) not included in the statement and since the date
of that statement there has not been any payment out of any of the accounts except for
routine payments. 

	 	7.26. 	Tax

	 	7.26.1. 	The
Accounts reflect an adequate reserve for all taxes payable by the
               Subsidiaries for all taxable periods and portions thereof through the
Accounts                Date.  

- 15 -

	 	7.26.2. 	To
the best of its knowledge, the Subsidiaries are not under audit or
               examination by any taxing authority, and no written or unwritten notice of
such                an audit or examination has been received by the Subsidiaries. No
claim has ever                been made by an authority in a jurisdiction where
Subsidiaries do not file tax                returns that it is or may be subject to
taxation by that jurisdiction.  

	 	7.26.3. 	There
is no agreement or other document extending, or having the effect of
               extending, the period of assessment or collection of any taxes and no
power of                attorney with respect to any taxes has been executed or filed
with any taxing                authority.  

	 	7.26.4. 	No
liens for taxes exist with respect to any assets or properties of the
               Subsidiaries, except for liens for taxes not yet due.  

	 	7.26.5. 	The
Subsidiaries are not liable for taxes of any other person nor are the
               Subsidiaries party to or bound by any tax sharing agreement, tax indemnity
               obligation or similar agreement, arrangement or practice with respect to
taxes                (including any advance pricing agreement, closing agreement or other
agreement                relating to taxes with any taxing authority).  

	 	7.26.6. 	The
Subsidiaries shall not be required to include in a taxable period ending
               after the Signature Date taxable income attributable to income that
accrued in a                prior taxable period but was not recognized in any prior
taxable period.  

	 	7.26.7. 	Subsidiaries
are not a party to any joint venture, partnership, or other                arrangement or
contract that could be treated as a partnership for income tax                purposes.  

	 	7.26.8. 	There
are no private letter rulings in respect of any tax pending between the
               Subsidiaries and any taxing authority.  

	 	
COMMERCIAL  

	 	7.27. 	Suppliers and customers  

	 	
No
supplier of any Subsidiary has notified a Subsidiary in the six months prior to this
Agreement that it has ceased nor so far as the Seller is aware will cease supplying it
nor that it has reduced in the last six months its supplies to any Subsidiary nor so far
as the Seller is aware will reduce its supplies to any Subsidiary nor has any Subsidiary
terminated its agreement with any supplier in the six months prior to this Agreement; 

- 16 -

	 	
and
no customer of any Subsidiary has notified a Subsidiary in the six months prior to this
Agreement that it has terminated nor so far as the Seller is aware will terminate any
contract with it or withdraw or reduce its custom with it, after Signature Date or as a
result of the proposed acquisition by the Purchaser. 

	 	7.28. 	Trading
contracts and outstanding offers

	 	7.28.1. 	each
Subsidiary has observed and performed all the terms and conditions on its
               part to be observed and performed under the Material Contracts in all
material                respects and so far as the Seller is aware the other party or
parties to such                contracts are not in default thereunder.  

	 	7.28.2. 	no
Subsidiary will be required after the Signature Date to undertake any work or
               supply any goods or services, except on normal commercial terms under a
contract                entered into on or before the Signature Date.  

	 	7.28.3. 	no
offer, tender or the like which is capable of being converted into an
               obligation of any Subsidiary by an acceptance or other act of some other
Person                is outstanding, except in the ordinary course of its business.  

	 	7.29. 	Material
contracts

	 	
no
Subsidiary is a party to any contract, arrangement or obligation which:  

	 	7.29.1. 	will
generate sales revenue of US$ 100,000 or more; or  

	 	7.29.2. 	is
not in the ordinary course of its business; or  

	 	7.29.3. 	is
incapable of performance in accordance with its terms within twelve months
               after the date on which it was entered into or undertaken; or  

	 	7.29.4. 	cannot
be fulfilled or performed by that Subsidiary on time and without undue or
               unusual expenditure of money and effort; or  

	 	7.29.5. 	requires
an aggregate consideration payable by that Subsidiary in excess of US$
               50,000 (other than as a result of royalties based on sale income); or  

	 	7.29.6. 	involves
the supply of goods the aggregate sales value of which will represent                in
excess of ten per cent. of the turnover expected by the Seller for the
               current financial year; or  

	 	7.29.7. 	involves
payment by that Subsidiary by reference to fluctuations in the Consumer
               Price Index or any other index; or  

	 	7.29.8. 	is
for the provision of management or similar services to that Subsidiary and
               which is not terminable by it on less than three months’ notice
without                compensation.  

- 17 -

	 	
such
contracts (if any) being “Material Contracts”.  

	 	7.29.9. 	the
Material Contracts are in full force and effect and each Subsidiary has
               observed and performed all the terms and conditions on its part to be
observed                and performed under the Material Contracts in all material
respects.  

	 	7.30. 	Agencies, Distributors,
etc.

	 	
no
Subsidiary is a party to:  

	 	7.30.1. 	any
agency, distributorship, marketing or licensing agreement or arrangement; or  

	 	7.30.2. 	any
contractual agreement or arrangement which restricts its freedom to carry on
               the whole or any part of its business in any part of the world in such
manner as                it thinks fit.  

	 	7.31. 	Intellectual
Property Rights

	 	7.31.1. 	all
Intellectual Property Rights of the Subsidiaries or used by them in relation
               to their respective businesses are created by the Subsidiaries or validly
               licensed to, or acquired by, the Subsidiaries.  

	 	7.31.2. 	neither
the Seller nor the Sellers Group has any claim to the Intellectual
               Property Rights of the Subsidiaries.  

	 	7.31.3. 	the
Subsidiaries have valid assignments or licenses from each contributor for
               material published or distributed by the Subsidiaries;  

	 	7.31.4. 	so
far as the Seller is aware no activities of any Subsidiary infringe any
               Intellectual Property Rights of any third party and no claim has been made
               against any Subsidiary in respect of any such infringement.  

	 	7.31.5. 	details
of all registered Intellectual Property Rights and all applications for
               registration of Intellectual Property Rights owned by any Subsidiary are
set out                in the Disclosure Letter, and each Subsidiary identified in the
Disclosure                Letter as the owner of any of the registered Intellectual
Property Rights is the                sole proprietor and is solely entitled beneficially
to such Intellectual                Property Rights. None of such Intellectual Property
Rights or any unregistered                Intellectual Property Rights owned by the
Subsidiaries has lapsed or been                cancelled and nothing has been done or
omitted to be done which would prejudice                the validity or enforceability of
any such Intellectual Property Rights.  

- 18 -

	 	7.31.6. 	no
Subsidiary has been notified of, and the Seller is not aware of, any
               challenge to the subsistence, validity or ownership of any registered or
               unregistered Intellectual Property Rights referred to in paragraph 7.31.5
above                or of any unregistered Intellectual Property Rights owned by the
Subsidiaries.  

	 	7.31.7. 	the
Subsidiaries have in full force and effect all licenses and consents
               relating to Intellectual Property Rights used but not owned by the
Subsidiaries                for the use the Subsidiaries make of such Intellectual
Property Rights.  

	 	7.31.8. 	the
Intellectual Property Rights owned by the Subsidiaries and those which are
               the subject of the license agreements referred to in paragraph 7.31.7
above                comprise all the Intellectual Property Rights the Subsidiaries
require to carry                on their respective businesses as such businesses have
been carried on during                the year prior to the Signature Date and such
rights and each Subsidiary’s                ability to use the Intellectual Property
Rights it owns will not be affected by                the acquisition of the Subsidiaries
by the Purchaser and so far as the Seller is                aware each Subsidiary’s
ability to use the rights which are the subject of                the license agreements
referred to in paragraph 7.31.7 above will not be                affected by the
acquisition of Subsidiaries by the Purchaser.  

	 	7.31.9. 	the
Seller is not aware of any unauthorized use by any Person of any
               Intellectual Property Rights owned or used by any Subsidiary or
Information of a                confidential nature.  

	 	7.32. 	Insurance

	 	7.32.1. 	complete
and correct particulars of the insurance policies effected for the                benefit
of each Subsidiary are set out in the Disclosure Letter.  

	 	7.32.2. 	all
such insurance policies are currently in full force and effect and nothing
               has been done or omitted to be done by any Subsidiary which could make any
               policy of insurance void or voidable.  

	 	7.32.3. 	complete
and correct particulars of the outstanding claims under each Subsidiary
               ‘s insurance policies are set out in the Disclosure Letter and:  

	 	7.32.3.1. 	all
such claims have been notified to the relevant insurer in accordance with
               the terms of the relevant policy;  

	 	7.32.3.2. 	all
such claims have been accepted as payable in full by the relevant insurer;
               and  

- 19 -

	 	7.32.3.3. 	the
aggregate loss represented by all such claims does not exceed the amount of
               insurance available to satisfy them under the relevant insurance policies.  

	 	7.33. 	Publication
Rights

	 	
No
Subsidiary is obliged under the terms of any grant of publication rights to pay any
further or additional sums or fees to any contributor in respect of any republication or
other reproduction of the contributor’s material, or in respect of any right granted
by a Subsidiary to third parties to reproduce or distribute such material in excess of
10% of the receipts from such republication, reproduction or distribution. 

	 	7.34. 	Business
names  

	 	
No
Subsidiary carries on business under a name other than its own corporate name.  

	 	7.35. 	Domain
Names  

	 	
Listed
in the Disclosure Letter are all domain names used by the Subsidiaries in connection with
the businesses as carried on at Signature Date. The Subsidiaries are the sole registered
users of all domain names used in connection with the businesses as carried on at
Signature Date. Each Subsidiary has taken all steps necessary to maintain its domain name
registrations and has complied with all requirements of the relevant domain name
registration body. 

	 	7.36. 	Websites  

	 	
Listed
in the Disclosure Letter are all Internet websites operated by a Subsidiary in connection
with that Subsidiary’s business. No Subsidiary has received any notice alleging that
the Internet websites owned or operated by the relevant Subsidiary and used in connection
with that Subsidiary’s business contain material that is defamatory, offensive,
obscene, racist or which is in breach of any Person’s rights. 

	 	7.37. 	No
powers of attorney

	 	7.37.1. 	there
are no powers of attorney in force given by the Subsidiaries which remains
               in force.  

	 	7.37.2. 	no
person, as agent or otherwise, is entitled or authorized to bind or commit
               the Subsidiaries to any obligation not in the ordinary course of business.  

	 	7.38. 	Loans

	 	
With
the exception of the Loans no Subsidiary has been a party to any loan, advance, credit,
or finance transaction with any Person, individual, employee, entity, company, trust,
partnership or business connected with the Seller or the Seller’s Group which has
not been repaid in full as at Signature Date. 

- 20 -

	 	7.39. 	Competitors  

	 	
To
the best of the Seller knowledge, no Person, other than GPS & More, has notified the
Seller or any Subsidiary of its intention to compete with MMP in the business of
supplying a geographic navigation database for use on mobile devices. 

	 	
PROPERTIES  

	 	7.40. 	Title

	 	7.40.1. 	the
Properties are the only properties owned, controlled, used or occupied by
               any Subsidiary and all deeds and documents necessary to prove title to
each                Property are in the possession of the relevant Subsidiary or are the
subject of                acknowledgements for production.  

	 	7.40.2. 	one
of the Subsidiaries is the legal and beneficial owner in possession of each
               Property as shown in the Disclosure Letter, is in exclusive occupation of
it and                has a good title to it.  

	 	7.41. 	Encumbrances

	 	7.41.1. 	each
Property is free from any Encumbrance.  

	 	7.41.2. 	no
Property is subject to any sub-tenancy licence or overriding interest.  

	 	7.41.3. 	no
outgoings are payable in respect of any Property except national non-domestic
               rates, charges for the supply of water and the provision of sewerage
services                and (in the case of leasehold Property) rent, insurance and
service charge and                other payments under the relevant Leases.  

	 	7.42. 	Covenants

	 	
all
covenants affecting the leasehold titles to the Properties have been materially performed
and observed save as to repair and redecoration and no Subsidiary has received notice of
any outstanding breach of covenant in respect of any Property. 

	 	7.43. 	Disputes  

	 	
there
are no claims nor disputes regarding boundaries, easements, covenants or other matters
relating to any Property or its use. 

- 21 -

	 	7.44. 	Planning

	 	7.44.1. 	during
the term of the Lease of any Property no development, alterations or                other
works which would require any permission or consent under the Israeli
               planning and zoning laws or under any bye-laws, building regulations or
other                relevant legislation have been carried out by any Subsidiary without
all those                permissions and consents having been obtained and all conditions
attached to                those permissions and consents have been observed and
performed.  

	 	7.44.2. 	no
notice has been received by any Subsidiary or injunction granted or applied
               for in respect of any breach or alleged breach of planning control or of
any                bye-laws, building regulations or other relevant legislation in
respect of the                Properties.  

	 	7.44.3. 	no
Subsidiary nor any Person on behalf of any of them has made:  

	 	7.44.3.1. 	any
application for planning permission in respect of any Property which has yet
               to be determined by the local planning authority; or  

	 	7.44.3.2. 	any
appeal in respect of any planning permission, or the refusal or deemed
               refusal of any planning application, in respect of any Property.  

	 	7.45. 	Notices
and orders 

	 	
no
Subsidiary has received any notice or order materially adversely affecting the use of any
Property as offices from any Government department, any authority or any third party. 

	 	7.46. 	Leases

	 	7.46.1. 	there
are no outstanding rent reviews in respect of the lease agreement.  

	 	7.46.2. 	the
lease agreement has not been varied nor have any licenses or consents been
               issued under it and no collateral assurances or undertakings have been
entered                into with the reversioner or any third party.  

	 	7.46.3. 	neither
the Seller nor any Subsidiary is aware of any major item of expenditure
               already incurred by the landlord of any Property or expected to be
incurred by                him within the next 12 months which is recoverable in whole or
in part from any                Subsidiary.  

	 	7.46.4. 	no
notices have been given or received under any of the lease agreement and
               there are no subsisting disputes between any Subsidiary and the
reversioner in                relation to any of the lease agreement.  

- 22 -

	 	
EMPLOYEES  

	 	7.47. 	Particulars disclosed  

	 	
full
particulars or, in the case of a document, a copy of the following are contained in or
annexed to the Disclosure Letter: 

	 	7.48. 	workers

	 	7.48.1. 	the
names of all the workers of each Subsidiary, any Person who has accepted an
               offer of employment made by any Subsidiary but whose employment has not
yet                started and of any worker who has given, or has been given, notice of
               termination of his employment;  

	 	7.48.2. 	the
terms and conditions on which the Persons referred to in 7.48.1 above are
               employed or have been offered employment including without limitation:  

	 	7.48.2.1. 	their
emoluments;  

	 	7.48.2.2. 	any
arrangement or practice under which any worker may receive, or any former
               worker has during the Relevant Period received, any payment, whether
               contractual, customary or discretionary by reference to his own
performance or                the performance of the whole or any part of the business of
any Subsidiary;  

	 	7.48.2.3. 	any
arrangement or practice regarding redundancy or severance payments, whether
               contractual, customary or discretionary, above the statutory payment;  

	 	7.48.2.4. 	any
agreement for the provision of any consultancy service or the service of
               personnel to any Subsidiary;  

	 	7.48.2.5. 	any
written employment practice or policy operated in relation to any
               Subsidiary’s workers or any group of them, whether contractual,
customary                or discretionary;  

	 	7.48.2.6. 	any
loan or other financial assistance provided to any worker, or past or
               prospective worker, of any Subsidiary which is outstanding;  

- 23 -

	 	7.48.3. 	no
proposal, assurance or commitment has been communicated to any Person
               regarding any change to his terms of employment or working conditions or
               regarding the continuance, introduction, increase or improvement of any
benefit                or any customary or discretionary arrangement or practice and no
negotiations                have commenced for any such matter.  

	 	7.48.4. 	all
subsisting contracts of employment to which any Subsidiary is a party are
               terminable by it on three months’ notice or less without compensation
               (other than compensation pursuant to the Israeli Law).  

	 	7.48.5. 	except
in respect of reimbursement of out of pocket expenses and normal accruals
               of emoluments after the Accounts Date, no sum is owing or promised to any
worker                of any Subsidiary or under any agreement.  

	 	7.48.6. 	since
the Accounts Date, no change has been made in the rate of the emoluments
               of any worker of any Subsidiary and none have been proposed.  

	 	7.49. 	Disputes,
investigations and collective redundancies

	 	7.49.1. 	no
claim in relation to the Subsidiaries’ workers or former workers has
               been made and notified to a Subsidiary or to the knowledge of the Seller
               threatened against any Subsidiary.  

	 	7.49.2. 	No
enquiry or investigation affecting any Subsidiary has been made by any
               Governmental Authority in respect of any act, event, omission or other
matter                arising out of or in connection with:  

	 	7.49.2.1. 	any
application for employment by any Person; or  

	 	7.49.2.2. 	the
employment (including terms of employment, working conditions, benefits and
               practices) or termination of employment of any Person;  

	 	
and
the Seller is not aware of any circumstance which may give rise to any such claim or
investigation. 

	 	7.49.3. 	there
is not, and during the Relevant Period there has not been, any industrial
               action affecting any Subsidiary and the Seller is not aware of any
circumstance                which might give rise to industrial action.  

	 	7.49.4. 	no
worker of any Subsidiary has within the Relevant Period been involved in any
               criminal proceedings relating to the business of any Subsidiary and the
Seller                is not aware of any circumstances which are likely to give rise to
any such                proceedings.  

	 	7.49.5. 	There
is no representative body representing the workers of any Subsidiary.  

- 24 -

	8. 	Purchaser’ Warranties

	 	
As
of the date hereof, the Purchaser represent and warrants to the Seller to the best of his
knowledge and belief that:  

	 	8.1. 	Accuracy
of recitals and schedules

	 	
The
particulars relating to the Purchaser set out in the recitals and the schedules to this
agreement are true and accurate. 

	 	8.2. 	Organization,
Good Standing and Qualification. Purchaser is a corporation           duly organized,
validly existing and in good standing under the laws of the           state of Israel and
has all requisite corporate power and authority to carry on           its business. 

	 	8.3. 	Authorization.
All corporate action on the part of Purchaser, its           founders, its officers,
directors and shareholders necessary for the           authorization, execution and
delivery of this Agreement, and the performance of           all obligations of Purchaser
hereunder, and the purchasing of the Shares has           been lawfully taken or will be
taken prior to the Closing, and this Agreement           constitute valid and legally
binding obligations of Purchaser. 

	 	8.4. 	Due
Diligence. The Purchaser represents that he is able to fend for           himself,
can bear the economic risk of the transaction hereunder, and has such           knowledge
and experience in financial or business matters that he is capable of
          evaluating the merits and risks of the acquisition of the Sale Shares. The
          Purchaser has had access to all aspects of the business of the Subsidiaries as
          presented by the Seller and he has been furnished by the Seller with all
          documents and information regarding the Subsidiaries which Purchaser has
          requested, and has been afforded the opportunity to ask questions and receive
          answers from duly authorized officers or other representatives of Seller and
the           Subsidiaries concerning the Subsidiaries business, assets and financial
          position, as well as any additional information which he has requested. Subject
          to the representations made by the Seller in paragraphs 6 to 7 above, the
          Purchaser declares and warrants that it shall have no claim against Seller and
          the Subsidiaries with regard to their condition, from all aspects, including,
          but not limited to, its financial, legal and commercial condition. The
Purchaser           declares and warrants that he has found the Sale Shares to be
suitable for his           purposes. During the due diligence process the purchaser
received, inter alia,           all the documents that are listed in Schedule 8.4. 

- 25 -

	9. 	Activities
of the Seller and Subsidiaries until the Closing Date

	 	9.1. 	The
Seller undertakes that the business of the Subsidiaries shall be conducted           in
the manner provided in this paragraph from the Signature Date to Closing. 

	 	9.2. 	Subsidiaries
shall carry on business in the normal course. 

	 	9.3. 	Subsidiaries
shall not: 

	 	9.3.1. 	dispose
of any material assets used or required for the operation of its           business; or  

	 	9.3.2. 	enter
into, modify or agree to terminate any Material Contract; or  

	 	9.3.3. 	incur
any capital expenditure on any individual item in excess of US$ 25,000; or  

	 	9.3.4. 	make,
or agree to make, material alterations to the terms and conditions of
          employment (including benefits) of any of its directors, officers or employees;
          or  

	 	9.3.5. 	dismiss
any of its employees or offer a contract of employment to any           individual; or  

	 	9.3.6. 	create
any Encumbrance over any of its assets or its undertaking; or  

	 	9.3.7. 	institute,
settle or agree to settle any legal proceedings relating to its           business,
except debt collection in the normal course of business; or  

	 	9.3.8. 	grant,
modify, agree to terminate or permit the lapse of any Intellectual           Property
Rights or enter into any agreement relating to any such rights; or  

	 	9.3.9. 	pay
any management charge to the Seller; or  

	 	9.3.10. 	incur
any liabilities to the Seller, other than trading liabilities incurred in           the
normal course of business; or  

	 	9.3.11. 	enter
into any (or modify any subsisting) agreement with any trade union or any
          agreement that relates to any works council.  

	 	9.4. 	Subsidiaries
may do anything falling within paragraphs 9.3 if the Purchaser has           given
written consent. 

	 	9.5. 	Subsidiaries
shall maintain in force insurance policies: 

	 	9.5.1. 	that
have limits of indemnity at least equal to; and  

	 	9.5.2. 	the
other terms of which are no less favourable than,  

	 	9.5.3. 	those
policies of insurance maintained by the Company or, in relation to one of           the
Subsidiaries, by that Subsidiary on the date of this agreement.  

- 26 -

	 	9.6. 	The
Seller shall use its best endeavours to maintain the trade and trade
          connections of the Subsidiaries. 

	 	9.7. 	The
Seller shall give to the Purchaser as soon as possible full details of any
          material change in the business, operations, assets, position (financial,
          trading or otherwise), profits of the Subsidiaries of which it is aware. 

	 	9.8. 	The
Seller shall not incur any liabilities to the Subsidiaries, other than           trading
liabilities incurred in the normal course of business. 

	 	9.9. 	no
amendment, other than one made solely to comply with legislative           requirements,
shall be made to any agreements or arrangements for the payment of           pensions or
other benefits on retirement: 

	 	9.9.1. 	to
present or former directors, officers or employees of the Subsidiaries; or  

	 	9.9.2. 	to
the dependants of any of those people.  

	10. 	Limitation
of Seller’s’ Liability

	 	10.1. 	Time
Limits on Bringing Claims

	 	
The
liability of the Seller in respect of the Warranties shall terminate:  

	 	10.1.1. 	on
or before two years following Signature Date in respect of any Warranty
               Claim, except in respect of any Warranty Claim which is served on the
Seller                (specifying as reasonably practicable details of the nature of the
Warranty                Claim and the amount claimed) before such date.  

	 	10.1.2. 	The
Seller shall not be liable in respect of any Warranty Claim of which notice
               has been served under paragraph 10.1.1 unless, within twelve months of
notice                having being served under paragraph 10.1.1 or before two years
following                Signature Date, whichever is later, legal proceedings in respect
of the Warranty                Claim shall have been issued and served upon the Seller
unless the Seller has                assumed conduct of the claim in question.  

	 	10.2. 	Limits
on Amounts

	 	10.2.1. 	The
Seller shall not be liable for any single Warranty Claim unless the amount
               of that Warranty Claim exceeds US$10,000, provided that Warranty Claims
arising                from the same or connected event or circumstances or series of
events or                circumstances shall be aggregated.  

	 	10.2.2. 	The
Seller shall not be liable in respect of any Warranty Claim unless the
               aggregate amount of all Warranty Claims (disregarding any Warranty Claims
to                which paragraph 10.2.1 applies) exceeds US$150,000 in which case the
whole                amount may be claimed by the Purchaser.  

- 27 -

	 	10.2.3. 	Except
as otherwise provided in this paragraph10.2 the maximum aggregate
               liability of the Seller in respect of all Warranty Claims and for all
costs and                interest shall not exceed an amount equal to US$ 13,000,000.  

	 	10.3. 	Loss
otherwise Compensates for

	 	
The
Seller shall not be liable in respect of any Warranty Claim:  

	 	10.3.1. 	to
the extent that, in respect of any matter giving rise to a Claim, the
               Subsidiaries receive actual payment for indemnity under the terms of any
               insurance policy for the time being in force against any loss or damage
suffered                by the Subsidiaries or the Subsidiaries arising out of that
matter;  

	 	10.3.2. 	to
the extent of any over-provision or over-reserve made in the Accounts in
               respect of any liability;  

	 	10.3.3. 	to
the extent that a specific amount that has been set out in a note, or
               specific allowance, provision or reserve has been made in the Accounts in
               respect of the matter to which the Warranty Claim relates;  

	 	10.3.4. 	to
the extent of the amount by which any assets of the Subsidiaries shall have
               been omitted, understated or over-depreciated in the Accounts; and  

	 	10.3.5. 	to
the extent that the matter giving rise to the Claim has been or is made good
               or is otherwise compensated for without cost or expense to the Purchaser
or the                Subsidiaries.  

	 	10.4. 	Purchaser’s
Knowledge and Entitlement to Recover Damages

	 	10.4.1. 	Without
derogating from Seller’s liabilities under this section 10, if the
               Purchaser or the Subsidiaries are entitled to recover any amount from a
third                party with respect to a Warranty Claim ,provided that MPH satisfies
the                liability it has to the Purchaser or the Subsidiaries pursuant to such
Warranty                Claim ,the Purchaser and Subsidiaries shall assign to MPH any and
all rights to                enforce and recover any amount from 3rd party in relation to
such Warranty                Claim. If MPH makes the recovery described above, MPH shall
be entitled to the                proceeds received thereunder.  

	 	10.4.2. 	No
Warranty Claim may be made against the Seller in respect of any matter which
               the Purchaser have been advised in writing on or before Signature Date is
a                breach of the Warranties or which any of them has formed the view on or
before                Signature Date that it is a breach of the Warranties.  

	 	10.4.3. 	The
Purchaser is not entitled to recover damages or otherwise obtain restitution
               more than once in respect of the same loss.  

- 28 -

	 	10.5. 	Other
Limits

	 	
No
liability of the Seller in respect of any Warranty Claim shall arise:  

	 	10.5.1. 	if
such Warranty Claim occurs by reason of any matter which would not have
               arisen but for the coming into force of any legislation not in force at
the                Signature Date or the withdrawal of any relief, allowance or
concession                available at the Signature Date (whether or not such
legislation or withdrawal                purports to be effective retrospectively in
whole or in part); or  

	 	10.5.2. 	to
the extent that the Warranty Claim arises as a result of any change after
               Signature Date in the accounting policies or practices, length of
accounting                period or accounting reference date of the Subsidiaries
provided that any such                change in accounting policies or practices does not
result from a breach of                warranties.  

	 	10.6. 	Conduct
of Claim

	 	10.6.1. 	If
any matter comes to the notice of the Purchaser or any member of the
               Purchaser’s Group or any Subsidiary or any of their respective
officers                which may give rise to a Warranty Claim, the Purchaser shall or
shall procure                that the relevant Subsidiary shall give written notice of
the Warranty Claim to                the Seller specifying the nature of the potential
Claim in reasonable detail as                soon as reasonably practicable and in any
event within 14 days of becoming aware                of the matter and that the matter
may give rise to a Warranty Claim.  

	 	10.6.2. 	The
Purchaser shall, or shall procure that any Subsidiary shall take such action
               and give such information and assistance in connection with the affairs of
the                relevant Subsidiary as the Seller may reasonably request to resist,
appeal,                dispute, avoid, settle or compromise a claim giving rise to a
Warranty Claim.                Such information and assistance shall include, without
limitation, providing                reasonable access to relevant documentation and
records and permitting the                copying of such documentation and records.  

- 29 -

	 	10.6.3. 	For
the avoidance of doubt, the actions which the Seller may reasonably request
               under this clause 10.6 shall include (without limitation) the procuring of
any                Subsidiary to apply postponement or deferral of (so far as legally
possible) the                payment of any Tax and/or allowing the Seller to take on or
take over at the                Sellers own expense the conduct of all or any proceedings
of whatsoever nature                arising in connection with the Warranty Claim in
question and, if the Seller                take on or take over the conduct of the
Warranty Claim, the Purchaser shall                provide, and shall procure that any
Subsidiary shall provide, such information                and assistance as the Seller
may reasonably require in connection with the                preparation for and conduct
of these proceedings.  

	 	10.6.4. 	In
relation to the Seller conducting a Warranty Claim in accordance with the
               provisions set out above: When conducting and/or proceeding a claim in
relation                to a Warranty Claim, the Seller shall at all times keep the
Purchaser informed                of the status development and progress of such claim
and / or proceedings.  

	 	10.6.5. 	The
Purchaser shall, and shall procure that any Subsidiary shall, provide the
               Seller with copies of all correspondence entered into and notes of any
               conversations or meetings with any Taxation Authority to the extent that
such                correspondence or notes relate to the Warranty Claim in question.  

	 	10.6.6. 	Subject
to the provisions of this clause, no material written communication                shall
be forwarded to any Taxation Authority in relation to that Warranty Claim
               without the prior written approval of the Seller (such approval not to be
               unreasonably withheld or delayed).  

	 	10.7. 	Duty
of Mitigation

	 	
Nothing
in this paragraph 10 shall restrict or limit in any way the general obligation at law of
the Purchaser to mitigate any loss or damage which it may suffer in consequence of any
matter giving rise to any Warranty Claim. 

	 	10.8. 	Scope
of Limitation  

	 	
Nothing
in this Schedule shall qualify or limit the liability of the Seller in relation to any
Warranty Claim attributable to the fraud or willful concealment on the part of the Seller. 

	 	10.9. 	The
remedy for any Warranty Claims shall be limited to proved and direct damages
          for breach of contract. 

- 30 -

	11.  	Non-Competition  

	 	
At
Closing, Seller shall deliver to Purchaser a non-competition and confidentiality
statement, signed by each of (a) the Seller (b) Dani Tracz and (c) Vitek Tracz stating
the following:  

	 	
I
hereby undertake, for a period of three years from this date:  

	 	
(a)
                     not to, directly or indirectly, alone or jointly with or by means of
any other                     person, without the prior written consent of Purchaser (i)
carry on or be                     interested in a business in competition with the
Business (“a Competing                     Business”); and (ii) act as a
consultant or employee or officer or in                     any managerial capacity in a
Competing Business; (b) not to disclose to any                     person or entity and
not to use for his own benefit or the benefit of any other                     person or
entity any Confidential Information of the Subsidiaries which he has
                    obtained by virtue of his employment or ownership in Seller. “Confidential
                    Information” shall include, without limitation, lists or details
of                     customers, information relating to the working of any process or
invention                     carried on or used by the Subsidiaries, information
relating to research                     projects, prices, discounts, mark-ups, future
business strategy, marketing,                     tenders and any price sensitive
information.  

	 	
For
the purpose of this undertaking “the Business” means the business of (a) the
creation, collection and licensing of geographic navigation databases of Israel (b) the
operation of travel, tourism and leisure internet portal of Israel and (c) the
publication of maps guides and reference works in Israel in each case as carried on prior
to Closing by the Subsidiaries but which for the avoidance of doubt specifically excludes
the business of providing;  

	 	(a) 	databases
of events and listings to businesses 

	 	(b) 	software
for use in navigation 

	 	(c) 	a
geographic navigation database of Israel where the provision is by Telmap
          Limited of a geographic navigation database that it has licensed from a third
          party and such provision is packaged with Telmap Limited’s navigation
          software. 

	12. 	Miscellaneous

	 	12.1. 	Each
of the Parties, Dani and Muli shall bear and pay the taxes and levies           imposed
on it (if at all) under any law in relation with this Agreement and the
          transactions contemplated therein. Payments made by Purchaser shall be subject
          to deduction for Israelian withholding taxes that may apply to payments from
          Purchaser to Seller, Dani and Muli. Purchaser shall cooperate with Seller, Dani
          and Muli in providing documentation that will assist Seller, Dani and Muli to
          obtain tax credits with respect to such withholding. 

	 	12.2. 	This
Agreement shall not be modified or amended except by a written instrument
          signed by both of the Parties hereto. 

- 31 -

	 	12.3. 	No
Party shall be entitled to sell, assign, transfer or otherwise convey any of
          its rights or delegate any of its duties under this Agreement. 

	 	12.4. 	If
any provision of this Agreement shall be held to be invalid or unenforceable
          for any reason, the remaining provisions shall continue to be valid and
          enforceable. 

	 	12.5. 	This
Agreement shall be governed by, and construed in accordance with, the laws           of
the state of Israel, without giving effect to its conflict of laws rules. 

	 	12.6. 	No
waiver, presumption, postponement, grant of extension or failure to act at           the
designed time by the either of the Party shall be considered as a waiver of           any
kind on the part of that Party of its rights under this Agreement, nor shall           it
constitute a claim or defense to a claim on the part of the other Party. 

	 	12.7. 	Except
as otherwise provided in this Agreement, this Agreement is for the sole           benefit
of the Parties and their permitted successors and assigns and nothing           herein
expressed or implied shall give or be construed to give to any Person,           other
than the Parties and such successors and assigns, any legal or equitable           rights
hereunder. 

	 	12.8. 	Any
notice required or permitted by any provision of this Agreement shall be           given
in writing and shall be delivered personally or by prepaid overnight
          international courier, to the address of the Party as set forth above or such
          other address for such Party as shall be designated in writing from time to
time           by such Party. Notices that are delivered personally shall be deemed
received on           the day of delivery and notices sent by prepaid overnight
international courier           shall be deemed given two business days after being duly
dispatched. A copy of           any notice sent to the Seller shall also be sent to The
Legal Director, Science           Navigation Group, Middlesex House, 34-42 Cleveland
Street, London, W1T 4LB, or           such other address as the Seller shall notify in
writing to the Purchaser in           accordance with the terms of this Clause. 

	 	12.8 	This
Agreement and the documents referred to in it constitute the whole agreement and
understanding between the Parties relating to its subject matter. 

	 	12.9 	The
Purchaser acknowledges that in agreeing to enter into this Agreement, it has not relied
on any representation, warranty, collateral contract or other assurance (except those set
out in this Agreement and/or any other deed or agreement entered into on the date of this
Agreement between the Parties) made by or on behalf of any other party before the
signature of this Agreement, including without limitation any representation, warranty or
other assurance set forth in that certain Confidential Information Memorandum prepared by
or on behalf of the Seller. 

- 32 -

	 	
The
Purchaser waives all rights and remedies which, but for this sub-clause, might otherwise
be available to it in respect of such representation, warranty, collateral contract or
other assurance. Nothing in this clause limits or excludes any liability for fraud or
fraudulent misrepresentation.  

        IN
WITNESS WHEREOF, each of the Parties has caused this Agreement to be executed by its duly
authorized officer as of the date first written above. 

			
	Mapa Publishers Holding B.V
 

	E-Com Global Electronic Commerce Ltd. 

	By:
—————————————— 	By:
—————————————— 	By:
—————————————— 
	Name: Dani Tracz

            (by power of attorney) 	Name: Gil Sheratzky 	Ran Sviro 
	Title:
—————————————— 	Title: CEO  	CFO 

We approve the above-mentioned, and
we declare and undertake to act under and according to the terms and conditions of this
Agreement, including, without limitation to our personal undertaking as detailed in
sections 2, 5 and 12.1 and its schedules. 

		
	——————————————

Dani Tracz  	——————————————

Muli Meltzer 

- 33 -

I, the undersigned hereby approve
that Mr. Dani Tracz, appeared before me on 26/4/2007 and signed this Agreement and all
ancillary documents required for its execution, on MPH’s behalf in accordance with
(i) MPH’s Board of Directors resolution dated 23/3/2007 and (ii) the power of
attorney, both attached as Schedule ___ to this Agreement . 

		
	
——————————————

	26/4/2007 
	         David Abadi,  Adv.	Date

I, the undersigned hereby approve
that the Purchaser has adopted all the resolutions necessary to empower it to enter into
this Agreement and to fulfill its undertakings under this Agreement, and that in
accordance with the said resolutions, Mr. Gil Sheratzky and Mr. Ran Sviro, were given the
authority to sign this Agreement and all ancillary documents required for its execution on
the Purchaser’s behalf. 

		
	
——————————————

  	26/4/2007 
	         Guy Aharonov, Adv.	 Date

I, the undersigned hereby approve
that Mr. Dani Tracz. I.D 067236547 of 15 Melchet Street, Tel Aviv, Israel appeared before
me 26/4/2007 and signed above, after I explained him the Agreement’s contents and
meaning. 

		
	
——————————————

 	26/4/2007 
	         David Abadi,  Adv.	 Date

I, the undersigned hereby approve
that Mr. Muli Meltzer, I.D 07062052 of 5 Wilson Street, Tel Aviv, Israel appeared before
me on 26/4/2007 and signed above, after I explained him the Agreement’s contents and
meaning. 

		
	
——————————————

	26/4/2007 
	         David Abadi,  Adv.	Date

- 34 -

Schedule 7 

Last update: 25/4/07

General Disclosure

All the documents provided to the
Purchaser as part of its due diligence enquiries as listed on the attached document list
are deemed disclosed. 

Without prejudice to the generality
of the above general disclosure the following disclosures are made by the Seller against
all the Warranties to which they may be relevant. For the sake of convenience only the
following specific disclosures are set out by reference to certain of the Warranties as
they appear in the Agreement.. Where a document is referred to the document is the
document in the bundle attached to this Disclosure letter. 

	Warranty  		Disclosure  

	7.2  	See
Document 7.2 

	7.5.2  	MMP
has co-publishing joint ventures with the following; 

	 	(a) 	Tel
Aviv University Press – religious reference  

	 	(b) 	Hakibbutz
Hameuhad : “bird lexicon” + “photographers           lexicon” 

	 	(c) 	Albatros
– “Eretz Yafa” 

	7.6  	MMP
keeps stock of books at its distributor Lior Sherf on consignment.

                               See also Disclosures to Warranty 7.21 below. 

	 	
See
Document 7.6 a list of leases for cars to which the Company is a party.  

	7.7  	Under
the terms of MMPs standard author contract in the event of MMP having less than 100
copies of a title in stock for 12 months or more then the rights granted by the author in
such title revert to the author and MMPs publishing rights terminate. 

	 	
Alona
Frankel, author of “A Girl” has the right to terminate her agreement with Mapa
in the event that Dani Tracz leaves MMP. The author is waiting to see who the new owners
of the Mapa Group will be before making a decision. See Document 7.27  

	7.9  	Although
no license is required MMP is required to comply with generally accepted censorship rules
relating to its maps regarding military installations in Israel. 

	7.10.1  	MMP
licenses certain data to Telmap Limited and Map Data Services Limited, both members of
the Sellers Group to enable them to supply it, bundled with its software to clients.
Copies annexed as Document 7.10.1 

	 	
Agreement
with Telmap Limited  

	 	
1.
Workforce Fleet Management- partner  

	 	
Date
of agreement:01.01.04, renews every year for a year.  

	 	
Payment:
35% from monthly income.  

	 	
2.
Vehicles fleet management – Monitex:  

	 	
Date
of agreement: 05.07.06, renews every year for a year.  

	 	
Payment
– according to the price list below:  

	 	Number of car per unit
	First year payment
	Payment for second year and onwords

	 	 		
	 			
	 			
	 			
	 	Up to 10	350$	175$
	 			
	 	10-30	600$	300$
	 			
	 	30-100	1200$	600$
	 			
	 	100-300	2000$	1000$
	 			

	 	
Agreement
with Map Data Services  Limited 

	 		
Mirs Pollaris - for the I860 cellular telephone navigation

Date of agreement: 05.08.05, renews every year for a year.

Payment: 1.125$ per unit.

Cellcom Pollaris for navigation

Date of agreement: 01.08.05, renews every year for a year.

Payment:new subscribers pay for 6 months in advance - 6*1.25$

After 6 month the payment is 1.25$ per month

	 	
MMP
distributes a book called “Rumours of Love” written by Yael Naeman who is the
partner of Mr Dani Tracz. 

	7.10.2  	Mapa
Internet Limited (and prior to Mapa Internet Limited acquiring the Mapa Internet business
from Mapa mapping and Publishing Limited) had a license from Telmap Limited for Telmap’s
navigation and map server software. This license came to an end in September 2006 as Mapa
Internet Limited identified alternative sources for this software. This agreement may not
have been on entirely arm’s length terms. See Document 7.10.2 Mapa Mapping and
Publishing Limited has provided certain services, such as office space, computer and
telephone services, at cost to Global Datapoint Limited, a member of the Sellers Group,
since mid 2006. The provision of such services terminated prior to the Closing Date. As
the services were provided at cost they were not on an arms-length basis. 

	 	
Certainarrangements
between the Subsidiaries are often on a cost recovery basis which are not on an
arms-length basis.  

	7.11  	MMP
has a running claim for violation of usage rights to the Company's databases. This claim
is against                                Ekshtein Systems Ltd's officer-  Mr. Eli Chen.

	 	
MMP
believes that it has a claim for breach of contract against Hitahdut Hazelila who
contracted with MMP to purchase 10,000 copies of a book branded with the customers logo
(and so not saleable to anyone else). To date 20.1.07 has only purchased 1,050 copies and
so MMP has 8,950 in stock. MMP will await the new owners decision on whether to pursue
this action. See Document 7.11.  

	 	
Occasional
unlicensed usage of map data, reviews and other material owned by MMP and Internet is
identified. If such usage is non material by an individual the Companies policy is to
take no action. If such usage is by a commercial organisation the company contacts such
person about the unlicensed usage. In exceptional circumstances the Company will instruct
legal counsel to take appropriate action against infringers. Currently MMP and Internet
are not aware of any unlicensed usage that would require instructing lawyers to take
action for misuse.  

	7.13.4  	The
Purchaser is referred to the Accounts and prior year Financial Statements as all unusual
or nonrecurring items, such as capital gains (losses), prior years incomes (expenses),
provisions for impairment loss etc’, if any, are presented as other income
(expenses) in the financial statements.  

	 		See Document 7.13.4 MMP and Internet 2004,2005
and 2006 Accounts 

	7.14  	Prior
to the 2004 financial statements no provision was made in the accounts for licenses that
ran beyond the year end. All income arising was taken during the year of invoice. From
the 2004 financial statements provision was made on the basis of a time apportionment of
the income in line with the term of the license. Prior to the 2004 financial statements
no credit was taken of income earned during the period but invoiced subsequently. From
the 2004 financial statements income earned during the period but billed subsequently was
included in the financial statements for the year in which the income was earned. 

	 	
Prior
to the 2004 financial statements no provision was made for vacation pay and severance
pay. From the 2004 financial statements provisions was made for vacation pay and
severance pay.  

	 	
Prior
to the 2005 financial statements no provision was made for royalties due to authors. From
the 2005 financial statements provision was made for royalties due to authors.  

 

	7.14 and

7.15 	 Fixed assets depreciation is computed by the straight line method based on the
depreciation rates according to the tax regulations in Israel. 

	 	
The
value attributed to each fixed asset of the relevant Subsidiary such as computers and
software, furniture and equipment, vehicles, leasehold improvements might exceed its
current market value.   

	 		The intangible assets such as the Know How and the Technology are
presented in the financial statements of Mapa Internet Ltd at the Accounts Date on cost
basis net of accumulated amortization. These intangible assets are amortized over
estimated useful life, based on the best estimation available at the date of the purchase
of these assets. The best estimation mentioned above is made by the management based on
certain assumptions which might change with the passage of time. 

	 	
The
goodwill is presented in the financial statements of Mapa Internet Ltd at the Accounts
Date on cost basis net of accumulated amortization. Effective January 1, 2006 the
amortization of the goodwill was terminated.  

	 	
The
value attributed to the goodwill does not necessary represents its current market value.  

	7.14.2 and

7.15.2 	 The rate of depreciation applied is that permitted by the tax authorities. The
write down value of fixed assets of computer equipment, furniture and motor cars may be
greater than the relevant assets market value. 

	7.16 	 a) 	
      Ronit Vered is contracted to write a work called [Culinary trips] for MMP which was
due to be                                         delivered in 2006 for which an advance
of NIS10,000 was paid. The material has never been
                                        delivered and so MMP has terminated the contract
with the author and waived its right to                                         be repaid
the advance. See Document 7.16

	 	b) 	Eitan
Ben Natan was contracted to collate a “Dictionary of Quotations”               and
was paid a fee of NIS70,000 for this task, all rights in the work belonging
               to MMP. MMP and Eitan Ben Natan have been unable to agree on the extent of
the                content that should be included in the work. MMP have agreed with
Eitan Ben                Natan and Magnes Publishers that if they repay the fee of
NIS70,000 as royalties                to MMP, ,then MMP will transfer all the rights in
the work to Magnes Publishers                . See Document 7.16 

	7.16  	U
Drive, a customer of MMPs licensed to use MMPs map database is thought unlikely to pay
the sum due.

	7.18.2  	Internet
has reached an agreement with LB Motion / Trap Near You for the use of their police speed
camera                                data in return for 2% of the income received from
each new subscriber recruited to the Site following the
                               introduction of the data to the Site which is anticipated
to occur at the end of February. See Document                                17.18.2

	7.18.3  	The
terms of trading with Dfus Kal Limited and Krlkhiyat Kordova Limited permits payment 120
days after the end of the month of invoice and so debts to these suppliers may be
outstanding for more than 120 days. 

	7.18.5  	MMP
agreed to reduce an invoice sent to Bank Leumi by 15% in respect of a purchase of 50,000
copies of a book because Bank Leumi were not satisfied with the quality of the paper and
printing of the book. 

	7.19  	MMP
has purchased the following software licenses since the Accounts Date:

                                    SQL server with 2 cpu's support + 30* "Office"

	7.21   	1)	
      In addition to the Internet Loan and MMP Loans mentioned in 7.21, there is an
outstanding loan                                         from Discount Bank in amount of
NIS 61,000 as at the Accounts Date. The loan is to be
                                        repaid on or before December 2007. This loan is
secured on a car owned by the MMP.See                                         Document
7.21

	 	2) 	Mapa
Mapping and Publishing Ltd has furnished bank guarantees as follows: 

	 	–	A
NIS 25,000 guarantee in favour of the Ministry of Tourism to secure an agreement.  See
Document                                       7.21  

	 	–	A
NIS 25,000 guarantee in favour of the court as part of a motion to grant temporary relief
against a party to a claim for violation of usage rights to the Company’s databases.
See Document 7.21 

	 	3) 	Liens
were pledged on the Mapa Mapping and Publishing Ltd’s assets to
               secure its liabilities to banks for credit received from them, as
following: 

	 	                               – 	A
lien on all the Company's  assets in favour of the Mizrakhi  Tfakhot Bank.  See Document
 7.21- A                                            specific  lien on 2 vehicles in
favour of the Mizrakhi  Tfakhot  Bank.  See Document
                                           7.21 

	 	                               – 	MMP
signed 2 promissory notes regarding the lease to the premises at 17 Tchernikhovsky
 Street. See                                            Document 7.21 

	7.22.1  	See
Document 7.21

	7.22.6  	Dani
Tracz and Mulli Meltzer each gave personal guarantees to Mizrakhi Tfakhot Bank and
Discount Bank to secure MMPs liabilities to such banks . 

	 	
Dani
Tracz and Mulli  Meltzer  signed  together a promissory  note  regarding  the  warehouse
in Hulon.  See Document 7.22.6 

	 	
Dani
Tracz and Mulli Meltzer are personal guarantors for the obligations of the Company on the
lease to the premises at 17 Tchernikhovsky Street. See Document 7.22.6  

	 	
Dani
Tracz and Mulli Meltzer are personal guarantors for the 2 promissory notes MMP signed
regarding the lease to the premises at 17 Tchernikhovsky Street . See Document 7.22.6  

	7.26.5 	
The Subsidiaries are responsible for withholding tax from the payments to their suppliers
and for withholding the income tax from the salaries paid to their employees as required
by the tax regulations. 

	7.26.7  	The
Subsidiaries are united entity for the purpose of VAT.

	7.26.8  	There
is an assessments agreement between Mapa Mapping and Publishing Ltd and the tax
authorities for the                                tax years 2000-2003.

	7.27  	Telmap
Limited has ceased to supply Internet as a result of Internet electing not to renew the
license to use Telmap software and now uses in-house software. 

	 	
Some
individual subscribers to Internet have not renewed their subscriptions in the last six
months.  

	 		Internet terminated its agreement with Harel Moradi PR on renewal as Internet no
longer wished to continue to use its services.  

	 	
Internet
intends to terminate its agreement with NETO, an advertising broker as they are not
providing the services that Internet needs. Internet will sign an agreement with Walla
instead The
Internet Service Providers who have previously sold subscriptions to Internet to their
customers have decided to wind down this direct selling operation and are no longer
recruiting new subscribers to Mapa Internet. 

	 	
Map
Info, a supplier of map data software applications changed its Israelis exclusive
distributor from OpiSoft to Map It in December 2006. As a result of this change OpiSoft
has ceased to supply MMP but has been replaced by Map It.  

	 	
IBM
has announced that they will cease to support Infomix UDO 9.14 (a database product) from
1.1.2006. (MapInfo, which is the GIS software that we use, supports only this version of
Informix) GPS & More has notified MMP that it is creating its own map database and
will in the future (no date given) cease to be a customer of MMP for its map database.  

	 	
Alona
Frankel, author of “A Girl” has the right to terminate her agreement with Mapa
in the event that Dani Tracz leaves MMP. The author is waiting to see who the new owners
of the Mapa Group will be before making a decision. See Document 7.27 Until
31 December 2006 MMP represented the Estate of Hanoch Levine (deceased) in its
relationship with Hakibulz Hameud for which MMP was paid NIS 40,000 per annum, NIS 20,000
of which was paid to the Estate of Hanoch Levine (deceased). This arrangement was
terminated on 31 December 2006. See Document 7.27 

	 		  In June 2006, MMP sold all its rights
in the Educational books.

	7.28.3  	MMP
has a proposal out with MIRS, the mobile telephone operator, for the use of certain MMP
and Internet data for a GPS application for 4x4s that could be accepted shortly. 

	 	
Internet
has agreed terms with Nooly for the supply of certain weather data however the agreement
has not yet been signed as a result of technical difficulties, but the agreement could be
signed shortly.   

	 		Internet is in the final stages of negotiations with BMBY in relation to
real estate listings on a pay per lead basis that could be signed shortly. 

	 	
MMP
has the following proposals out with potential customers;  

	 	(a)  	Israel
Defence Force: 40,000 copies of a travel guide  

	 	–	NIS
12 +VAT per           copy  

	 	(b)  	Lottery:
12 mini branded books 200,000 copies each  

	 	–	NIS
1.4 +VAT per           copy 

	 	(c)  	Health
Maintenance Organization: 33,000 copies of an album 

	 	–	NIS
24           +VAT per copy  

	 	(d) 	

	7.29  	The
following agreements are considered material contracts for MMP;

	 	
Agreement
with Atlas CT dated 1.7.05 and its annexes regarding:  

	 	
 Yellow Pages, Ynet, D&B and Walla.

Agreement with Ituran dated 14.7.05

Agreement with GPS&More dated 8.10.00

Agreement with Ronlight dated 29.11.06

Agreement with MIRS dated 19.12.05

Agreement with Adalia dated 28.8.05

Agreement with Ministry of Tourism dated 20.12.05

Agreement with Army Oref dated 31.12.05

Agreement with Jerusalem University dated 15.11.06

Agreement with Kaf-Daled dated 21.8.06

Agreement with Ronlight dated 23.4.07

See Document 7.29

	7.29.1  	MMP
is contracted to provide 14,000 copies of a book on walking to Unilever Israel for NIS 7
per copy, this contract should be fulfilled in January or February. 

	7.29.3  	MMP
and Internet have 8 cars leased under Lease Agreement. See Document 7.29.3

	7.29.5  	Internet
pays MMP NIS 250,000 per annum for the use of its dataset.

	 	
Internet
pays NIS11,000 per month for internet hosting services.  

	7.29.6  	MMP’s
book distributor Lior Sherf accounts for more than 10% of MMPs income from publishing
activities. 

	7.30  	Several
Internet Service providers (Barak; Netvision; Smile; Kavei Zahav; Actcom and Bezek
International) are distributors Several companies such as iMode and Mirs sell Internet
product bundled with their applications. 

	 	
Pelophone
is licensed to use Internet Points of Interest information MMP licenses Internet data to
a number of clients MMP does, in the ordinary course of its publishing business, grant
permission to reuse material in other publications for a fee.  

	 	
MMP
has a distributor called Lior Sherf for its book titles.  

	 	
MMP
has several distributors of its GISrael database; Atlas CT, Teldor, Systematics, Points,
Map-It, Omnitech, Gioda  

	7.30.2  	MMP
has granted Hachette in France the rights to publish The Historical Atlas of the Jewish
People in French. See Document 7.30.2 

	7.31.5  	MMP
owns the registered trademark "Mapa Guide".

	7.31.9  	The
Seller is aware of a number of pirate copies of navigation applications (such as
Destinator and IGO) available in Israel which incorporates information from the MMP map
database. However the source of such pirate copies is not clear and so action is not
possible at this time. 

	 	
Occasional
unlicensed usage of map data, reviews and other material owned by MMP is identified. If
such usage is non material by an individual the Companies policy is to take no action. If
such usage is by a commercial organisation the company contacts such person about the
unlicensed usage. In exceptional circumstances the Company will instruct legal counsel to
take appropriate action against infringers. Currently
MMP is not aware of any unlicensed usage that would require instructing lawyers to take
action for misuse.   

	7.32 	See
Document 7.32

	7.33 	Under
the terms of its standard agreement with its authors MMP pays the following royalties;

	 	
10%
of receipts on the first 5,000 copies sold in bookshops (excluding special sales)  

	 	
12%
of receipts on the next 5,000 copies sold in bookshops (excluding special sales)  

	 	
14%
of receipts on sales in excess of 10,000 copies (excluding special sales).  

	 	
The
following authors have royalty arrangements which are different from the terms of the
standard agreement set out above  

	 	1.	Alona
Frenkel:A Girl: 20% of receipts  

	 	2.	Aharon
Shabtai: Greek Mythology: 12.5% of retail price  

	 	3.	Yaakov
Raz: Japanese Mythology: 12.5% of retail price  

	 	4.	Dan
Daor: Chinese Mythology: 12.5% of retail price  

	 	5.	Yehuda
Litany: Irish Mythology 20% of receipts  

	 	6.	Hagay
Dagan: Jewish Mythology: 14% of receipts  

	 	7.	Nahum
Meged:Indian Mythology: 20% of receipts  

	 	8.	Amram
Peter:Hyndu Mythology: 20% of receipts  

	 	9. 	Sefi
Ben-Yosef: Shvil Haez: 12.5% of retail price  

	 	10.	Grisha
Bloger:Sambuk Magadra: 15% of receipts on all copies in           excess of
500 copies  

	7.34  	Internet
also uses the following brands Mapa SOS, Mapa2Go, Mapa Recommended MMP has used the
imprint “Tel Aviv Books “Mapa Guide” and “ MMP uses the brand “GISrael” for
its map database. 

	7.35  	MMP
owns the following domains;
www.gisrael.co.il

www.map.co.il

www.mapisrael.co.il

Internet owns the following domains;

www.mapasos.co.il

www.mapa.co.il

www.mapa2go.co.il  

	7.36  	The
only site operated by Internet is https://www.Mapa.co.il, 
although a number of
other URLs link to this web site 
MMP has a site at https://https://www.books.mapa.co.il

 MMP has a site at the URL https://www.gisrael.co.il

	7.39  	As
the Purchaser is aware GPS & More / IGO have for some time been saying that they will
create their own map database to compete with MMP’s GISrael geographic navigation
database. 

	 	
In
addition MAPI (the Israel Ordinance Survey) have also claimed to be preparing
navigational data. However the Sellers have no knowledge of their progress in such
preparation  

	7.40.2  	See
Copy Leases at Document 7.40.2

	7.41.1  	There
is a lien on all the Company's assets (which would include the Leases) in favour of the
Mizrakhi                                Tfakhot Bank. See Document 7.21

	7.47  	See
Copy Insurance Documents at Document 7.47

	7.48.2.3  	On
the termination of the employment of an employee it is the Companies practice to pay one
months salary for each year worked for the Company. 

	7.48.2.4  	MMP
has a long term freelance sales representative called Limor Porat. See Document 7.48.2.4

	7.48.6  	The
next salary review for the Subsidiaries is due no later than March.

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