On September 18, 2016, Mr. Shai Shalom Lustgarten, Chief Executive Officer of Micronet Ltd. notified the company of his resignation. Mr. Lustgarten's notice of his resignation was accepted by Micronet Ltd., however, as per the terms of his employment agreement and his prior notice obligations, Mr. Lustgarten shall continue to serve as the Chief Executive Officer of Micronet Ltd. until September 17, 2017, unless otherwise notified by the company.