Appendix to the Management Services Provision Agreement Made and entered into in Yavne on June 4, 2020

Exhibit 4.7

Appendix to the Management Services Provision Agreement

Made and entered into in Yavne on June 4, 2020

Between: X. Xxxxx-Food International Ltd. Public Company no. 520043209 Of 0 Xxxxx Xxxxx Xxxxxx, Xxxxx (hereinafter: “the Company”)

On the one hand;

And: Xxxx Xxxxx Management and Investments Ltd., Private Company no. 512416033 Of 00 Xxxxxx Xxxxxx, Xxxxxxxx (hereinafter: “the Management Company”)

                    On the other hand;

Whereas: The Company is a public company engaged in importing, marketing and distribution of food products;

Whereas: The Management Company is a private company owned by Xxxxxx Xxxxxxxx, Identity Number 000000000 (hereinafter: “Xx. Xxxxxxxx”);

Whereas: On April 24, 2018 an agreement was signed between the parties for provision of management services (hereinafter: “the Service Provision Agreement”) in accordance with the authorization of the general shareholders meeting of the Company;

Whereas: On April 3, 2019 the general shareholders meeting of the Company authorized an update of the terms of engagement between the parties for an additional period of 3 years (three years).

Whereas: On June 4, 2020 the general shareholders meeting of the Company authorized an update of the terms of engagement between the parties for an additional period of 3 years (three years).

Now, Therefore, the parties agree, declare and stipulate as follows:

The following clauses will be updated as of January 1, 2020:

1. Clause 8.1 of the Service Provision Agreement will be updated such that:
In a case where the consolidated annual operating profit of the Company reaches at least 30 million NIS before payment of bonuses to office holders of the Company, the Management Company will be entitled to a payment of an annual graded grant, as detailed in the Service Provision Agreement.

2. Clause 8.2 of the Service Provision Agreement will be updated such that:
For avoidance of doubt, it is agreed that the annual grant every year will not exceed a sum of NIS 2,500,000.

In witness whereof the parties have signed this agreement:

 

/s/Xxx Xxxxxxxx and Xxxxxxxx Xxxxxx
X. Xxxxx-Food International Ltd.
The Company   
/s/Xxxxxx Xxxxxxxx Xxxx Xxxxx Management and Investments Ltd The Management Company

Xx. Xxxxxxxx'x confirmation

I, the undersigned, Xxxxx Xxxxxxxx, Identity Number 000000000, undertake to comply with all the provisions of this agreement and in particular the provisions of a personal nature.

/s/Xxxxxx Xxxxxxxx

Xxxxxx Xxxxxxxx

Appendix to the Management Services Provision Agreement

Made and entered into in Yavne on June 4, 2020

Between: X. Xxxxx-Food International Ltd. Public Company no. 520043209 Of 0 Xxxxx Xxxxx Xxxxxx, Xxxxx (hereinafter: “the Company”)

On the one hand;

And: Xxx X. & Co. Company Ltd., Private Company no. 512715970 Of 0 Xxxxx Xxxxx Xxxxxx, Xxxxx (hereinafter: “the Management Company”)

                    On the other hand;

Whereas: The Company is a public company engaged in importing, marketing and distribution of food products;

Whereas: The Management Company is a private company owned by Xxx Xxxxxxxx, Identity Number 000000000 (hereinafter: “Xx. Xxxxxxxx”);

Whereas: On April 24, 2018 an agreement was signed between the parties for provision of management services (hereinafter: “the Service Provision Agreement”) in accordance with the authorization of the general shareholders meeting of the Company;

Whereas: On April 3, 2019 the general shareholders meeting of the Company authorized an update of the terms of engagement between the parties for an additional period of 3 years (three years).

Whereas: On June 4, 2020 the general shareholders meeting of the Company authorized an update of the terms of engagement between the parties for an additional period of 3 years (three years).

Now, Therefore, the parties agree, declare and stipulate as follows:

The following clauses will be updated as of January 1, 2020:

3. Clause 8.1 of the Service Provision Agreement will be updated such that:
In a case where the consolidated annual operating profit of the Company reaches at least 30 million NIS before payment of bonuses to office holders of the Company, the Management Company will be entitled to a payment of an annual graded grant, as detailed in the Service Provision Agreement.

4. Clause 8.2 of the Service Provision Agreement will be updated such that:
For avoidance of doubt, it is agreed that the annual grant every year will not exceed a sum of NIS 2,500,000.

In witness whereof the parties have signed this agreement:

 

/s/Xxxxxx Xxxxxxxx and Xxxxxxxx Xxxxxx       X. Xxxxx-Food International Ltd. The Company /s/Xxx Xxxxxxxx Xxx X. & Co. Company Ltd. The Management Company

Xx. Xxxxxxxx'x confirmation

I, the undersigned, Xxx Xxxxxxxx, Identity Number 000000000, undertake to comply with all the provisions of this agreement and in particular the provisions of a personal nature.

/s/Xxx Xxxxxxxx

Xxx Xxxxxxxx

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