On July 24, 2019, Mr. Shlomi Cohen, the Chief Executive Officer of On Track Innovations Ltd. and a member of the Board of Directors of the company, notified the Board of his resignation from the position of CEO effective August 1, 2019 and from the Board effective August 8, 2019. The Board accepted the resignation. Mr. Cohen advised that his decision to resign is due to a disagreement with the Board on matters relating to the Company's strategies and operations.

Also on July 24, 2019, in connection with Mr. Cohen's resignation, Mr. Assaf Cohen, who currently serves as Chief Financial Officer of the Company, was appointed as the Company's Interim Chief Executive Officer to serve in such capacity until a replacement is appointed. The company is continuing to seek a suitable candidate to serve as its permanent Chief Executive Officer. In addition to serving as Interim Chief Executive Officer, Mr. Assaf Cohen will continue to serve as Chief Financial Officer.

Currently there are no changes to Mr. Cohen's compensation as reported before in connection with his appointment as Interim Chief Executive Officer.