Note 15 - Transactions and Balances with Related Parties

On December 30, 2008, the Company's shareholders approved the terms of a management services agreement entered into among the Company, Kanir Joint Investments (2005) Limited Partnership ("Kanir") and Meisaf Blue & White Holdings Ltd. ("Meisaf"), a company controlled by the Company's chairman of the board and controlling shareholder, effective as of March 31, 2008 (the "Management Agreement"). According to the Management Agreement, Kanir and Meisaf, through their employees, officers and directors, provide assistance to the Company in all aspects of the new operations process, including but not limited to, any activities to be conducted in connection with identification and evaluation of the business opportunities, the negotiations and the integration and management of any new operations and including discussions with the Company's management to assist and advise them on such matters and on any matters concerning the Company's affairs and business and provide board services and chief executive officer services. In consideration of the performance of the management services and the board services pursuant to the Management Agreement, the Company initially agreed to pay Kanir and Meisaf an aggregate annual management services fee in the amount of $250 thousand.

This annual management fee was increased to $400 thousand in June 2013 (approximately €356 thousand, based on the NIS/euro exchange rate as at December 31, 2019 following approval by the Audit Committee, Compensation Committee, Board of Directors and by the Company's shareholders at the shareholders' meeting held in June 2013. The current term of the Management Agreement is until June 17, 2022.

The Company sub-leases a small part of its office space to a company controlled by Mr. Shlomo Nehama, the Company's chairman of the Board and a controlling shareholder, at a price per square meter based on the price that it pays under its lease agreements. This sub-lease agreement was approved by the Company's Board of Directors.

Compensation to key management personnel and interested parties (including directors)

Directors and officers participate in the Company’s share option programs. For further information see Note 17 regarding share-based payments.

Compensation to key management personnel and interested parties that are employed by the Company:

	Year ended December 31
	2019				2018				2017
	Number of				Number of				Number of
	People		Amount		People		Amount		People (*)		Amount
			€ thousands				€ thousands				€ thousands
Short-term employee
Benefits		3		689		2		371		2		377
Post-employment
Benefits		2		56		2		48		2		57
Share-based payments		1		29		2		-		2		-

* Including retired employees that were not employed throughout the entire year.

Compensation to key management personnel (including directors but excluding compensation paid under the Management Agreement) that are not employed by the Company:

	Year ended December 31
	2019				2018				2017
	Number of				Number of				Number of
	people		Amount		people		Amount		People (*)		Amount
			€ thousands				€ thousands				€ thousands
Total compensation to
directors not employed
by the Company		3		72		3		49		3		35
share-based payments		3		9		3		5		3		14

C. Debts and loans to related and interested parties

								Interest income recognized in statement of
	The terms of the loan			Balance as at December 31				income for the year ended December 31
	Interest		Linkage
	rate		base	2019		2018		2019		2018		2017
	%			€ thousands
Dori Energy		8.1 (*)	NIS+CPI		10,595		9,189		814		1,130		1,158

(*) See Note 6A