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Avner Oil - Annual Report 2011 - Delek Energy Systems

Avner Oil - Annual Report 2011 - Delek Energy Systems

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C. Interested parties in the Partnership who are not listed in section A or section B aboveDetails of benefit recipient Benefits for services Other benefits TotalNamePositionEmploymentbasis% ofparticipationunits held Salary BonusSharebasedpaymentManagementfeesConsultingfees Commission Other Interest Rent Other 8<strong>Avner</strong> <strong>Oil</strong> andGas Ltd.GeneralPartner-1.81%9 6,284 6,284<strong>Delek</strong> <strong>Energy</strong><strong>Systems</strong> Ltd.<strong>Delek</strong> GroupLtd.--50.11% -6.53% 122 401 523Cohen-Developmentand IndustrialBuildingsLtd. 104,127 4,12789See Regulation 22, Section 1.The Partnership is managed by the General Partner, which is entitled under the Limited Partnership agreement to ongoing management fees for its services in the sum of 7.5% ofthe Limited Partnership’s current expenses for oil exploration operations, on a quarterly basis which is to be no less than USD 40,000 per month. The Limited Partnershipagreement also stipulates that the General Partner is entitled to reimbursement of all the direct expenses it incurs in the management of the Limited Partnership. It also stipulatesthat unless the Commissioner's consent is received for other types of expenses, these expenses will include only the following: Accountants, legal counsel, geological consulting,investment consulting, geophysical and reservoir engineering consulting, engineering consulting, economic (financial) consulting, insurance consulting, strategy and mediaconsulting, investor relations consulting, regulatory consulting, and marketing consulting fees as well as reimbursement of expenses relating to marketing and financing operationsand expenses for preparation of financial statements for joint ventures, financial statements and reports under the Securities Law, 1968, preparation of approvals for tax purposes,payments to the Securities Authority, TASE, the Registrar of Companies and the Registrar of Partnerships. Except for the above, fees will not be paid to the General Partner orinterested parties in it (as defined in the Securities Law, 1968) from the funds of the Limited Partnership. In <strong>2011</strong>, these expenses totaled USD 6,284,000.10 Ceased to be an interested party in the Partnership on December 28, <strong>2011</strong>.D-6

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