On Track Innovations Ltd. (NASDAQ:OTIV) Files An 8-K Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers

Item5.02 Departure of Directors or Certain Officers; Election of
Directors; Appointment of Certain Officers; Compensatory
Arrangement of Certain Officers.

On January 15, 2017, the Board of Directors, or the Board, of On
Track Innovations Ltd., or the Company, appointed James Scott
Medford and Michael J. Soluri as directors, effective January 15,
2017, to fill vacancies on the Board and to serve until the next
general meeting of shareholders of the Company at which directors
are being elected. As directors of the Company, Messrs. Medford
and Soluri will be entitled to the same cash compensation payable
to the other non-executive directors of the Company.

Mr. Medford, age 65, has over 35 years of experience in the
fields of AIDC (automatic identification and data capture),
encompassing early introduction to bar coding, wireless
technology, speech recognition and RFID (Radio-Frequency
Identification). From 1990 to 2006, Mr. Medford served as a Vice
President at Intermec Technologies, where he developed various
departments. During 2006, Mr. Medford was a partner at Genesta
Partnership, which designs and deploys systems in manufacturing
and logistics, where he also managed projects for Fortune 100
companies. From 2008 to 2015, Mr. Medford served as a Senior Vice
President of Sales at Impinj, a manufacturer of RFID integrated
circuits, devices and software. Most recently, Mr. Medford served
as Chief Sales Officer at Invengo International Pte Ltd., a
leading provider of RFID technology and solutions, focused on
growing the American and European markets, mainly in the retail
segments. Mr. Medford currently provides consulting services to
numerous high tech solution companies and investment firms, and
serves as Chairman of LMC, Ltd, a UK based company providing
solutions to the international rail and transportation industry.

Mr. Soluri, age 45, is a technology sales executive with
expertise in global direct IT sales within the finance,
manufacturing and retail industries and the Internet of Things
field. From 1993 to 1995, Mr. Soluri served as the Sales Director
of Ameriquest Technologies, a company digitizing existing
processes. From 1995 to 1997, Mr. Soluri served as the Executive
Sales Director of Siemens Data Communications, where he focused
on smart switching technologies and intelligent data hub markets.
From 1998 to 2015, Mr. Soluri served as the Executive Manager,
Global Client Services at the Imaging, Software and Solutions
Division of Lexmark International, and he currently serves as the
Chief Revenue Office and Vice President of EDM Group that focuses
on information management for organizations.

The Board has determined that each of Mr. Medford and Mr. Soluri
are independent under Nasdaq Listing Rules. Mr. Medford was also
appointed as the Chairman of the Board, and Mr. Soluri was
appointed to serve as a member of the Companys Audit Committee
and Compensation Committee.

Item8.01 Other Events.

As a result of the appointment of Mr. Soluri as a member of the
Companys Audit Committee as abovementioned, the Companys Audit
Committee is now comprised of three Independent Directors, as
defined in the Nasdaq Listing Rules, and the Company therefore
regained compliance with Rule 5605(c)(2)(A) of the Nasdaq Listing
Rules.

About On Track Innovations Ltd. (NASDAQ:OTIV)

On Track Innovations Ltd. is a developer of cashless payment solutions. The Company’s segments include Retail and Mass Transit, Petroleum, Parking and Other. The Company offers solutions for banking, mobile network operators, vending, mass transit, petroleum and parking. The Company provides its customers with training and installation support, customer service and technical support. Its PayEnable technology can be implemented into a range of products. Its Retail and Mass Transit products include TRIO mPOS, Pico BT, WAVE, WAVE PKI, oti SATURN 6700 UNO, oti SATURN 6500 TRIO and oti SCI 6000. It also offers otiMetry and oti CONNECT 3000. Its EasyFuel Plus solution is a wireless, cashless, cardless and paperless refueling tracking and payment solution. Its EasyPark set of parking solutions provides parking fee collection, parking payment enforcement and parking management solution. Its MediSmart solution is an information management and claims submission system for the medical sector.

On Track Innovations Ltd. (NASDAQ:OTIV) Recent Trading Information

On Track Innovations Ltd. (NASDAQ:OTIV) closed its last trading session up +0.01 at 1.47 with 94,986 shares trading hands.