[Satellite TODAY 12-30-10] ImageSat International has reached a settlement agreement with the Serbian government, which will see the Balkan country pay 27 million euros ($35.5 million) for canceling a contract it signed with the company in 2005 to provide a military intelligence satellite.
    The settlement follows a ruling by a London arbitration court that ordered Serbia to pay 35 million euros  ($45.9 million) contract termination fee with an interest rate of 3.5 percent and an arbitration fee of 112,500 euros.
    Serbian news agencies reported that the lower amount was negotiated by Serbian Foreign Ministry Political Director Borko Stefanovic, who also agreed that his country would buy unspecified equipment from Israel for its military and the police.