Copied from Nevo
With regard to the provisions regarding the termination of the agreement, I will note that the 1997 agreement included an option in clause 8.2 of the agreement for termination of the agreement by each party at its sole discretion , without the need for reasoning by giving written notice to the other party 30 days in advance and without the other party having the right to any compensation or indemnification due to the termination of the contract. In contrast to this provision, the 2007 agreement provides in clause 8.1 that the term of the agreement is:
"From May 27, 2007 and for a full period of 12 months with an option to extend for both parties for an additional period of 12 months under the same terms."
Clause 8.2 of the Agreement stipulates that:
"The term of the agreement as stated in clause 8.1 is a fundamental condition of this agreement. Therefore, it is hereby agreed that if any of the parties terminates the Agreement before the end of the period of the Agreement as stated in clause 8.1 above, this will constitute a fundamental breach of this Agreement."
Article 8.3 of the 2007 Agreement stipulates that:
"Notwithstanding the provisions of Sections 8.1-8.2 above, each party shall be entitled to terminate this Agreement immediately by written notice to the other party, without prejudice to any remedy available to it under any law and/or provisions of this Agreement, in the event of one or more of the following cases:
8.3.1. The other party has fundamentally breached the Agreement. For the purposes of this Agreement, the Contractor's obligations in Clauses 2, 5 and 6 of this Agreement shall be regarded as a fundamental undertaking. and as a fundamental undertaking of the Company - the fulfillment of the obligations set out in Clauses 2.6 and 3 of the Agreement on time.
8.3.2. The other party has violated any provision of this Agreement and has not corrected the breach within 7 days from the date of receipt of a warning letter about the breach."
- Over the years, the agreement from 2007 between the parties was renewed on a number of dates: thus, the agreement was renewed on May 9, 2008, and in addition, on August 15, 2010 (Appendix 8 to the plaintiff's affidavit). It should be noted that in the agreement from 2008, the parties agreed to deduct 10% of the consideration.
On May 23, 2018, the parties signed an addendum to the agreement from 2007 (Appendix 9 to the plaintiff's affidavit). This addendum included a provision and accordingly the agreement of 9.5.2007 will be assessed by March 31, 2019 with changes as detailed. In addition, section 2 of this Addendum provides that: