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<SEC-DOCUMENT>0001206774-09-000726.txt : 20090409
<SEC-HEADER>0001206774-09-000726.hdr.sgml : 20090409
<ACCEPTANCE-DATETIME>20090409081535
ACCESSION NUMBER:		0001206774-09-000726
CONFORMED SUBMISSION TYPE:	DEF 14A
PUBLIC DOCUMENT COUNT:		5
CONFORMED PERIOD OF REPORT:	20090526
FILED AS OF DATE:		20090409
DATE AS OF CHANGE:		20090409
EFFECTIVENESS DATE:		20090409

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			VISHAY INTERTECHNOLOGY INC
		CENTRAL INDEX KEY:			0000103730
		STANDARD INDUSTRIAL CLASSIFICATION:	ELECTRONIC COMPONENTS & ACCESSORIES [3670]
		IRS NUMBER:				381686453
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		DEF 14A
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-07416
		FILM NUMBER:		09741182

	BUSINESS ADDRESS:	
		STREET 1:		63 LINCOLN HWY
		CITY:			MALVERN
		STATE:			PA
		ZIP:			19355
		BUSINESS PHONE:		6106441300

	MAIL ADDRESS:	
		STREET 1:		63 LINCOLN HIGHWAY
		CITY:			MALVERN
		STATE:			PA
		ZIP:			19355
</SEC-HEADER>
<DOCUMENT>
<TYPE>DEF 14A
<SEQUENCE>1
<FILENAME>vishay_def14a.htm
<DESCRIPTION>DEFINITIVE PROXY STATEMENT
<TEXT>
<HTML>
<HEAD>
<TITLE></TITLE>
</HEAD>
<BODY>



<P align=center><B><FONT face=serif size=2>SCHEDULE 14A <BR>(Rule 14a-101)
<BR></FONT></B><B><FONT face=serif size=2>INFORMATION REQUIRED IN PROXY
STATEMENT </FONT></B></P>
<P align=center><B><FONT face=serif size=2>SCHEDULE 14A INFORMATION <BR>Proxy
Statement Pursuant to Section 14(a) of the <BR>Securities Exchange Act of 1934
</FONT></B></P>
<P align=justify><FONT face=serif size=2>Filed by the Registrant </FONT><FONT face=serif size=2><FONT face=wingdings size=2>x<BR></FONT></FONT><FONT face=serif size=2>Filed by a party other than the Registrant <FONT face=Wingdings>o</FONT></FONT></P>
<TABLE cellSpacing=0 cellPadding=0 width="100%" border=0>

  <TR vAlign=bottom>
    <TD vAlign=top noWrap align=left width="100%" colSpan=3><FONT face=serif size=2>Check the appropriate box:</FONT></TD></TR>
  <TR vAlign=bottom>
    <TD vAlign=top noWrap align=left width="1%"><FONT face=Wingdings size=2>o</FONT></TD>
    <TD vAlign=top noWrap align=left width="1%">&nbsp;&nbsp;&nbsp;&nbsp; </TD>
    <TD vAlign=top noWrap align=left width="98%"><FONT face=serif size=2>Preliminary proxy statement</FONT></TD></TR>
  <TR vAlign=bottom>
    <TD vAlign=top noWrap align=left width="1%"><FONT face=Wingdings size=2>o</FONT></TD>
    <TD vAlign=top noWrap align=left width="1%">&nbsp;</TD>
    <TD vAlign=top noWrap align=left width="98%"><FONT face=serif size=2>Confidential, for Use of the Commission Only (as permitted by Rule
      14a-6(e)(2))</FONT></TD></TR>
  <TR vAlign=bottom>
    <TD vAlign=top noWrap align=left width="1%"><FONT face=Wingdings size=2>x</FONT></TD>
    <TD vAlign=top noWrap align=left width="1%">&nbsp;</TD>
    <TD vAlign=top noWrap align=left width="98%"><FONT face=serif size=2>Definitive proxy statement</FONT></TD></TR>
  <TR vAlign=bottom>
    <TD vAlign=top noWrap align=left width="1%"><FONT face=Wingdings size=2>o</FONT></TD>
    <TD vAlign=top noWrap align=left width="1%">&nbsp;</TD>
    <TD vAlign=top noWrap align=left width="98%"><FONT face=serif size=2>Definitive additional materials</FONT></TD></TR>
  <TR vAlign=bottom>
    <TD vAlign=top noWrap align=left width="1%"><FONT face=Wingdings size=2>o</FONT></TD>
    <TD vAlign=top noWrap align=left width="1%">&nbsp;</TD>
    <TD vAlign=top noWrap align=left width="98%"><FONT face=serif size=2>Soliciting material pursuant to Rule 14a-11(c) or Rule
    14a-12</FONT></TD></TR></TABLE><BR>
<P align=center><B><U><FONT face=serif size=2>VISHAY INTERTECHNOLOGY,
INC.<BR></FONT></U></B><FONT face=serif size=2>(Name of Registrant as Specified
in Its Charter) </FONT></P>
<P align=center><FONT size=2>_____________________<BR></FONT><FONT face=serif size=2>(Name of Person(s) Filing Proxy Statement, if other than the Registrant)
</FONT></P>
<P align=justify><FONT face=serif size=2>Payment of filing fee (Check the
appropriate box): </FONT></P>
<TABLE cellSpacing=0 cellPadding=0 width="100%" border=0>

  <TR vAlign=bottom>
    <TD vAlign=top align=left width="1%">&nbsp;&nbsp;&nbsp;&nbsp; </TD>
    <TD vAlign=top align=left width="1%"><FONT face=Wingdings size=2>x</FONT></TD>
    <TD vAlign=top align=left width="1%">&nbsp;&nbsp;&nbsp;&nbsp; </TD>
    <TD vAlign=top align=left width="97%" colSpan=3><FONT face=serif size=2>No
      fee required.</FONT></TD></TR>
  <TR>
    <TD vAlign=top width="1%"></TD>
    <TD vAlign=top width="99%" colSpan=5>&nbsp;&nbsp; </TD></TR>
  <TR vAlign=bottom>
    <TD vAlign=top align=left width="1%"></TD>
    <TD vAlign=top align=left width="1%"><FONT face=Wingdings size=2>o</FONT></TD>
    <TD vAlign=top align=left width="1%"></TD>
    <TD vAlign=top align=left width="97%" colSpan=3><FONT face=serif size=2>Fee computed on table below per Exchange Act Rules 14a-6(c)(1) and
      0-11.</FONT></TD></TR>
  <TR vAlign=bottom>
    <TD vAlign=top align=left width="1%"></TD>
    <TD vAlign=top align=left width="1%"></TD>
    <TD vAlign=top align=left width="1%"></TD>
    <TD vAlign=top align=left width="1%"><FONT face=serif size=2>(1)</FONT></TD>
    <TD vAlign=top align=left width="1%">&nbsp;&nbsp;&nbsp;&nbsp; </TD>
    <TD vAlign=top align=left width="95%"><FONT face=serif size=2>Title of
      each class of securities to which transaction applies:</FONT></TD></TR>
  <TR vAlign=bottom>
    <TD vAlign=top align=left width="1%"></TD>
    <TD vAlign=top align=left width="1%">&nbsp;</TD>
    <TD vAlign=top align=left width="1%">&nbsp;</TD>
    <TD vAlign=top align=left width="1%"><FONT face=serif size=2>(2)</FONT></TD>
    <TD vAlign=top align=left width="1%">&nbsp;</TD>
    <TD vAlign=top align=left width="95%"><FONT face=serif size=2>Aggregate
      number of securities to which transaction applies:</FONT></TD></TR>
  <TR vAlign=bottom>
    <TD vAlign=top align=left width="1%"></TD>
    <TD vAlign=top align=left width="1%">&nbsp; </TD>
    <TD vAlign=top align=left width="1%"></TD>
    <TD vAlign=top align=left width="1%"><FONT face=serif size=2>(3)</FONT></TD>
    <TD vAlign=top align=left width="1%"></TD>
    <TD vAlign=top align=left width="95%">
      <P align=justify><FONT face=serif size=2>Per unit price or other
      underlying value of transaction computed pursuant to Exchange Act Rule
      0-11 (set forth the amount on which the filing fee is calculated and state
      how it was determined):</FONT></P></TD></TR>
  <TR vAlign=bottom>
    <TD vAlign=top align=left width="1%"></TD>
    <TD vAlign=top align=left width="1%">&nbsp; </TD>
    <TD vAlign=top align=left width="1%"></TD>
    <TD vAlign=top align=left width="1%"><FONT face=serif size=2>(4)</FONT></TD>
    <TD vAlign=top align=left width="1%"></TD>
    <TD vAlign=top align=left width="95%"><FONT face=serif size=2>Proposed
      maximum aggregate value of transaction:</FONT></TD></TR>
  <TR vAlign=bottom>
    <TD vAlign=top align=left width="1%"></TD>
    <TD vAlign=top align=left width="1%">&nbsp; </TD>
    <TD vAlign=top align=left width="1%"></TD>
    <TD vAlign=top align=left width="1%"><FONT face=serif size=2>(5)</FONT></TD>
    <TD vAlign=top align=left width="1%"></TD>
    <TD vAlign=top align=left width="95%"><FONT face=serif size=2>Total fee
      paid:</FONT></TD></TR>
  <TR>
    <TD vAlign=top width="1%"></TD>
    <TD vAlign=top width="99%" colSpan=5>&nbsp;&nbsp; </TD></TR>
  <TR vAlign=bottom>
    <TD vAlign=top align=left width="1%"></TD>
    <TD vAlign=top align=left width="1%"><FONT face=Wingdings size=2>o</FONT></TD>
    <TD vAlign=top align=left width="1%"></TD>
    <TD vAlign=top align=left width="97%" colSpan=3><FONT face=serif size=2>Fee computed on table below per Exchange Act Rules 14a-6(i)(1) and
      0-11.</FONT></TD></TR>
  <TR>
    <TD vAlign=top width="1%"></TD>
    <TD vAlign=top width="99%" colSpan=5>&nbsp;&nbsp; </TD></TR>
  <TR vAlign=bottom>
    <TD vAlign=top align=left width="1%"></TD>
    <TD vAlign=top align=left width="1%"><FONT face=Wingdings size=2>o</FONT></TD>
    <TD vAlign=top align=left width="1%"></TD>
    <TD vAlign=top align=left width="97%" colSpan=3><FONT face=serif size=2>Fee paid previously with preliminary materials.</FONT></TD></TR>
  <TR>
    <TD vAlign=top width="1%"></TD>
    <TD vAlign=top width="99%" colSpan=5>&nbsp;&nbsp; </TD></TR>
  <TR vAlign=bottom>
    <TD vAlign=top align=left width="1%"></TD>
    <TD vAlign=top align=left width="1%"><FONT face=Wingdings size=2>o</FONT></TD>
    <TD vAlign=top align=left width="1%"></TD>
    <TD vAlign=top align=left width="97%" colSpan=3>
      <P align=justify><FONT face=serif size=2>Check box if any part of the fee
      is offset as provided by Exchange Act Rule 0-11(a)(2) and identify the
      filing for which the offsetting fee was paid previously. Identify the
      previous filing by registration statement number, or the form or schedule
      and the date of its filing.</FONT></P></TD></TR>
  <TR>
    <TD vAlign=top width="1%"></TD>
    <TD vAlign=top width="99%" colSpan=5>&nbsp;&nbsp; </TD></TR>
  <TR vAlign=bottom>
    <TD vAlign=top align=left width="1%"></TD>
    <TD vAlign=top align=left width="1%">&nbsp; </TD>
    <TD vAlign=top align=left width="1%"></TD>
    <TD vAlign=top align=left width="1%"><FONT face=serif size=2>(1)</FONT></TD>
    <TD vAlign=top align=left width="1%"></TD>
    <TD vAlign=top align=left width="95%"><FONT face=serif size=2>Amount
      Previously Paid:</FONT></TD></TR>
  <TR vAlign=bottom>
    <TD vAlign=top align=left width="1%"></TD>
    <TD vAlign=top align=left width="1%">&nbsp; </TD>
    <TD vAlign=top align=left width="1%"></TD>
    <TD vAlign=top align=left width="1%"><FONT face=serif size=2>(2)</FONT></TD>
    <TD vAlign=top align=left width="1%"></TD>
    <TD vAlign=top align=left width="95%"><FONT face=serif size=2>Form,
      Schedule or Registration Statement No.:</FONT></TD></TR>
  <TR vAlign=bottom>
    <TD vAlign=top align=left width="1%"></TD>
    <TD vAlign=top align=left width="1%">&nbsp; </TD>
    <TD vAlign=top align=left width="1%"></TD>
    <TD vAlign=top align=left width="1%"><FONT face=serif size=2>(3)</FONT></TD>
    <TD vAlign=top align=left width="1%"></TD>
    <TD vAlign=top align=left width="95%"><FONT face=serif size=2>Filing
      Party:</FONT></TD></TR>
  <TR vAlign=bottom>
    <TD vAlign=top align=left width="1%"></TD>
    <TD vAlign=top align=left width="1%">&nbsp; </TD>
    <TD vAlign=top align=left width="1%"></TD>
    <TD vAlign=top align=left width="1%"><FONT face=serif size=2>(4)</FONT></TD>
    <TD vAlign=top align=left width="1%"></TD>
    <TD vAlign=top align=left width="95%"><FONT face=serif size=2>Date
      Filed:</FONT></TD></TR></TABLE><BR>
<HR align=center width="100%" noShade SIZE=2>
<PAGE>
<P align=center><B><FONT face=serif size=2>VISHAY INTERTECHNOLOGY, INC.<BR>63
LANCASTER AVENUE<BR>MALVERN, PENNSYLVANIA 19355 </FONT></B></P>
<P align=center><IMG src="vishay_def14a1x2x1.jpg" border=0> </P>
<P align=justify><FONT face=serif size=2>April 9, 2009 </FONT></P>
<P align=justify><FONT face=serif size=2>Dear Stockholder: </FONT></P>
<P align=justify><FONT face=serif size=2>You are cordially invited to attend the
2009 Annual Meeting of Stockholders of Vishay Intertechnology, Inc., to be held
at 11:30 a.m., local time, on Tuesday, May 26, 2009, at Vishay Intertechnology,
Inc. World Headquarters, 63 Lancaster Ave., Malvern, PA 19355. The Board of
Directors looks forward to greeting you personally at the annual meeting.
</FONT></P>
<P align=justify><FONT face=serif size=2>During the annual meeting, we will
discuss each item of business described in the attached Notice of Annual Meeting
of Stockholders and proxy statement and provide a report on Vishay&#146;s business
operations. There will also be time for questions. </FONT></P>
<P align=justify><FONT face=serif size=2>On behalf of the Board of Directors, I
would like to express our appreciation for your continued interest in the
affairs of Vishay. We hope you will be able to attend the annual meeting.
Whether or not you expect to attend the annual meeting, and regardless of the
number of shares you own, it is important to us and to our business that your
shares are represented and voted at the annual meeting. Therefore, you are
encouraged to sign, date, and return the enclosed proxy card in the return
envelope provided so that your shares will be represented and voted at the
annual meeting.</FONT></P>
<TABLE cellSpacing=0 cellPadding=0 width="100%" border=0>

  <TR>
    <TD noWrap align=left width="50%"></TD>
    <TD noWrap align=left width="50%">
      <P align=justify><FONT face=serif size=2>Sincerely, </FONT></P></TD></TR>
  <TR>
    <TD noWrap align=left width="50%"></TD>
    <TD noWrap align=left width="50%">&nbsp;</TD></TR>
  <TR>
    <TD noWrap align=left width="50%"></TD>
    <TD noWrap align=left width="50%"><IMG src="vishay_def14a1x2x2.jpg" border=0></TD></TR>
  <TR>
    <TD noWrap align=left width="50%"></TD>
    <TD noWrap align=left width="50%">&nbsp;</TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="50%"></TD>
    <TD noWrap align=left width="50%"><FONT face=serif size=2>Dr. Felix
      Zandman</FONT>&nbsp; </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="50%"></TD>
    <TD noWrap align=left width="50%"><I><FONT face=serif size=2>Executive
      Chairman of the Board of Directors</FONT></I>&nbsp;
</TD></TR></TABLE><BR>
<HR align=center width="100%" noShade SIZE=2>
<PAGE>
<P align=center><B><FONT face=serif size=2>Important Notice Regarding the
Availability of Proxy Materials for the<BR>Annual Meeting of Stockholders to be
Held May 26, 2009. </FONT></B></P>
<P align=center><B><FONT face=serif size=2>The following materials, also
included with this Notice, are available for view on<BR>the Internet:
</FONT></B></P>
<P align=center><B><FONT face=serif size=2>Proxy Statement for the 2009 Annual
Meeting of Stockholders </FONT></B></P>
<P align=center><B><FONT face=serif size=2>2008 Annual Report to Stockholders
</FONT></B></P>
<P align=center><B><FONT face=serif size=2>To view these materials, visit
ir.vishay.com. </FONT></B></P>
<HR align=center width="100%" noShade SIZE=2>
<PAGE>
<P align=center><B><FONT face=serif size=2>VISHAY INTERTECHNOLOGY, INC. <BR>63
LANCASTER AVENUE <BR>MALVERN, PENNSYLVANIA 19355 </FONT></B></P>
<P align=center><B><FONT face=serif size=2>NOTICE OF 2009 ANNUAL MEETING OF
STOCKHOLDERS <BR>TO BE HELD ON TUESDAY, MAY 26, 2009 </FONT></B></P>
<P align=justify><FONT face=serif size=2>The 2009 Annual Meeting of Stockholders
of Vishay Intertechnology, Inc. will be held at Vishay Intertechnology, Inc.
World Headquarters, 63 Lancaster Ave., Malvern, PA 19355, on Tuesday, May 26,
2009 at 11:30 a.m., local time. The meeting will be held to consider and act
upon: </FONT></P>
<TABLE cellSpacing=0 cellPadding=0 border=0>

  <TR>
    <TD vAlign=top>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>
    <TD vAlign=top><FONT face=serif size=2>1.</FONT></TD>
    <TD vAlign=top>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>
    <TD vAlign=top width="100%"><FONT face=serif size=2>the election of four
      directors to hold office until 2012;</FONT></TD></TR>
  <TR>
    <TD vAlign=top></TD>
    <TD vAlign=top width="100%" colSpan=3>&nbsp;</TD></TR>
  <TR>
    <TD vAlign=top></TD>
    <TD vAlign=top><FONT face=serif size=2>2.</FONT></TD>
    <TD vAlign=top></TD>
    <TD vAlign=top width="100%"><FONT face=serif size=2>the ratification of
      our independent registered public accounting firm;</FONT></TD></TR>
  <TR>
    <TD vAlign=top></TD>
    <TD vAlign=top width="100%" colSpan=3>&nbsp;</TD></TR>
  <TR>
    <TD vAlign=top></TD>
    <TD vAlign=top><FONT face=serif size=2>3.</FONT></TD>
    <TD vAlign=top></TD>
    <TD vAlign=top width="100%"><FONT face=serif size=2>such other business as
      may be brought properly before the meeting.</FONT></TD></TR></TABLE>
<P align=justify><FONT face=serif size=2>The stockholders of record at the close
of business on March 30, 2009 will be entitled to vote at the annual meeting or
at any adjournment thereof. Whether or not you expect to attend the meeting in
person, please complete, date, and sign the enclosed proxy card and return it
without delay in the enclosed envelope which requires no additional postage if
mailed in the United States. </FONT></P>
<P align=justify><FONT face=serif size=2>If you are enrolled in our electronic
proxy materials delivery service and received these proxy materials via the
Internet, you will need to follow the procedures for online voting to vote your
shares.&nbsp;</FONT>&nbsp;</P>
<TABLE cellSpacing=0 cellPadding=0 width="100%" border=0>

  <TR>
    <TD noWrap align=left width="50%"></TD>
    <TD noWrap align=left width="50%">
      <P align=justify><FONT face=serif size=2>By Order of the Board of
      Directors, </FONT></P></TD></TR>
  <TR>
    <TD noWrap align=left width="50%"></TD>
    <TD noWrap align=left width="50%">&nbsp;</TD></TR>
  <TR>
    <TD noWrap align=left width="50%"></TD>
    <TD noWrap align=left width="50%"><IMG src="vishay_def14a1x4x1.jpg" border=0></TD></TR>
  <TR>
    <TD noWrap align=left width="50%"></TD>
    <TD noWrap align=left width="50%">
      <P align=justify><FONT face=serif size=2>William M. Clancy
  </FONT></P></TD></TR>
  <TR>
    <TD noWrap align=left width="50%"></TD>
    <TD noWrap align=left width="50%">
      <P align=justify><I><FONT face=serif size=2>Corporate Secretary
      </FONT></I></P></TD></TR>
  <TR>
    <TD noWrap align=left width="50%"></TD>
    <TD noWrap align=left width="50%">&nbsp;</TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="50%"><FONT face=serif size=2>Malvern,
      Pennsylvania</FONT>&nbsp; </TD>
    <TD noWrap align=left width="50%">&nbsp;</TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="50%"><FONT face=serif size=2>April 9,
      2009</FONT>&nbsp; </TD>
    <TD noWrap align=left width="50%">&nbsp;</TD></TR></TABLE><BR>
<HR align=center width="100%" noShade SIZE=2>
<PAGE>
<P align=center><B><FONT face=serif size=2>TABLE OF CONTENTS </FONT></B></P>
<TABLE cellSpacing=0 cellPadding=0 width="100%" border=0>

  <TR vAlign=bottom>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="3%"><B><FONT face=serif size=2>SECTION</FONT></B> </TD>
    <TD noWrap align=left width="46%">&nbsp;</TD>
    <TD noWrap align=left width="49%">&nbsp;</TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=right width="1%"></TD></TR>
  <TR>
    <TD noWrap align=left width="98%" colSpan=3>&nbsp;</TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=right width="1%"></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="98%" bgColor=#c0c0c0 colSpan=3><FONT face=serif size=2>About the
      Meeting</FONT> </TD>
    <TD noWrap align=right width="1%" bgColor=#c0c0c0>&nbsp;&nbsp;&nbsp;&nbsp; </TD>
    <TD noWrap align=right width="1%" bgColor=#c0c0c0><FONT face=serif size=2>1</FONT> </TD></TR>
  <TR>
    <TD noWrap align=left width="98%" colSpan=3>&nbsp;</TD>
    <TD noWrap align=right width="1%"></TD>
    <TD noWrap align=right width="1%"></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="98%" bgColor=#c0c0c0 colSpan=3><FONT face=serif size=2>Governance of the
      Company</FONT> </TD>
    <TD noWrap align=right width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=right width="1%" bgColor=#c0c0c0><FONT face=serif size=2>5</FONT> </TD></TR>
  <TR>
    <TD noWrap align=left width="98%" colSpan=3>&nbsp;</TD>
    <TD noWrap align=right width="1%"></TD>
    <TD noWrap align=right width="1%"></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="98%" bgColor=#c0c0c0 colSpan=3><FONT face=serif size=2>Director
      Compensation</FONT> </TD>
    <TD noWrap align=right width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=right width="1%" bgColor=#c0c0c0><FONT face=serif size=2>10</FONT> </TD></TR>
  <TR>
    <TD noWrap align=left width="98%" colSpan=3>&nbsp;</TD>
    <TD noWrap align=right width="1%"></TD>
    <TD noWrap align=right width="1%"></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="98%" bgColor=#c0c0c0 colSpan=3><B><FONT face=serif size=2>Proposal One &#150;
      Election of Directors</FONT></B> </TD>
    <TD noWrap align=right width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=right width="1%" bgColor=#c0c0c0><FONT face=serif size=2>11</FONT> </TD></TR>
  <TR>
    <TD noWrap align=left width="98%" colSpan=3>&nbsp;</TD>
    <TD noWrap align=right width="1%"></TD>
    <TD noWrap align=right width="1%"></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="98%" bgColor=#c0c0c0 colSpan=3><FONT face=serif size=2>Report of the
      Audit Committee</FONT> </TD>
    <TD noWrap align=right width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=right width="1%" bgColor=#c0c0c0><FONT face=serif size=2>14</FONT> </TD></TR>
  <TR>
    <TD noWrap align=left width="98%" colSpan=3>&nbsp;</TD>
    <TD noWrap align=right width="1%"></TD>
    <TD noWrap align=right width="1%"></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="98%" bgColor=#c0c0c0 colSpan=3><B><FONT face=serif size=2>Proposal Two &#150;
      Ratification of Appointment of Independent Registered Public Accounting
      Firm</FONT></B> </TD>
    <TD noWrap align=right width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=right width="1%" bgColor=#c0c0c0><FONT face=serif size=2>15</FONT> </TD></TR>
  <TR>
    <TD noWrap align=left width="98%" colSpan=3>&nbsp;</TD>
    <TD noWrap align=right width="1%"></TD>
    <TD noWrap align=right width="1%"></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="98%" bgColor=#c0c0c0 colSpan=3><FONT face=serif size=2>Security
      Ownership of Certain Beneficial Owners and Management</FONT> </TD>
    <TD noWrap align=right width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=right width="1%" bgColor=#c0c0c0><FONT face=serif size=2>17</FONT> </TD></TR>
  <TR>
    <TD noWrap align=left width="98%" colSpan=3>&nbsp;</TD>
    <TD noWrap align=right width="1%"></TD>
    <TD noWrap align=right width="1%"></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="98%" bgColor=#c0c0c0 colSpan=3><FONT face=serif size=2>Executive
      Compensation</FONT> </TD>
    <TD noWrap align=right width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=right width="1%" bgColor=#c0c0c0><FONT face=serif size=2>19</FONT> </TD></TR>
  <TR>
    <TD noWrap align=left width="98%" colSpan=3>&nbsp;</TD>
    <TD noWrap align=right width="1%"></TD>
    <TD noWrap align=right width="1%"></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="98%" bgColor=#c0c0c0 colSpan=3><FONT face=serif size=2>Report of the
      Compensation Committee</FONT> </TD>
    <TD noWrap align=right width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=right width="1%" bgColor=#c0c0c0><FONT face=serif size=2>30</FONT> </TD></TR>
  <TR>
    <TD noWrap align=left width="98%" colSpan=3>&nbsp;</TD>
    <TD noWrap align=right width="1%"></TD>
    <TD noWrap align=right width="1%"></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="98%" bgColor=#c0c0c0 colSpan=3><FONT face=serif size=2>Compensation
      Tables</FONT> </TD>
    <TD noWrap align=right width="1%" bgColor=#c0c0c0>&nbsp;</TD>
    <TD noWrap align=right width="1%" bgColor=#c0c0c0><FONT face=serif size=2>31</FONT> </TD></TR>
  <TR>
    <TD noWrap align=left width="98%" colSpan=3>&nbsp;</TD>
    <TD noWrap align=right width="1%"></TD>
    <TD noWrap align=right width="1%"></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="98%" bgColor=#c0c0c0 colSpan=3><FONT face=serif size=2>Certain
      Relationships and Related Transactions</FONT> </TD>
    <TD noWrap align=right width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=right width="1%" bgColor=#c0c0c0><FONT face=serif size=2>46</FONT> </TD></TR>
  <TR>
    <TD noWrap align=left width="98%" colSpan=3>&nbsp;</TD>
    <TD noWrap align=right width="1%"></TD>
    <TD noWrap align=right width="1%"></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="98%" bgColor=#c0c0c0 colSpan=3><FONT face=serif size=2>Other
      Matters</FONT>&nbsp; </TD>
    <TD noWrap align=right width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=right width="1%" bgColor=#c0c0c0><FONT face=serif size=2>47</FONT> </TD></TR>
  <TR>
    <TD noWrap align=left width="98%" colSpan=3>&nbsp;</TD>
    <TD noWrap align=right width="1%"></TD>
    <TD noWrap align=right width="1%"></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="98%" bgColor=#c0c0c0 colSpan=3><FONT face=serif size=2>Availability of
      Annual Report and Form 10-K to Stockholders</FONT> </TD>
    <TD noWrap align=right width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=right width="1%" bgColor=#c0c0c0><FONT face=serif size=2>47</FONT> </TD></TR>
  <TR>
    <TD noWrap align=left width="98%" bgColor=#ffffff colSpan=3>&nbsp;</TD>
    <TD noWrap align=right width="1%" bgColor=#ffffff></TD>
    <TD noWrap align=right width="1%" bgColor=#ffffff></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="98%" bgColor=#c0c0c0 colSpan=3><FONT face=serif size=2>Stockholder
      Proposals for 2010 Annual Meeting</FONT> </TD>
    <TD noWrap align=right width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=right width="1%" bgColor=#c0c0c0><FONT face=serif size=2>47</FONT>
  </TD></TR></TABLE><BR>
<HR align=center width="100%" noShade SIZE=2>
<PAGE>
<P align=center><B><FONT face=serif size=2>VISHAY INTERTECHNOLOGY, INC.<BR>63
LANCASTER AVENUE <BR>MALVERN, PENNSYLVANIA 19355 </FONT></B></P>
<P align=center><B><FONT face=serif size=2>________________ </FONT></B></P>
<P align=center><B><FONT face=serif size=2>PROXY STATEMENT
<BR>________________</FONT></B><FONT face=serif size=2> </FONT></P>
<P align=justify><FONT face=serif size=2>The accompanying proxy is solicited by
the Board of Directors of Vishay Intertechnology, Inc. for use at the 2009
Annual Meeting of Stockholders of Vishay to be held at Vishay Intertechnology,
Inc. World Headquarters, 63 Lancaster Ave., Malvern, PA 19355, on Tuesday, May
26, 2009 at 11:30 a.m., local time, or any adjournments thereof.</FONT></P>
<P align=justify><FONT face=serif size=2>We are first sending the proxy
materials to stockholders on or about April 9, 2009. </FONT></P>
<P align=center><B><FONT face=serif size=2>ABOUT THE MEETING </FONT></B></P>
<P align=justify><B><I><FONT face=serif size=2>Why did I receive these
materials? </FONT></I></B></P>
<P align=justify><FONT face=serif size=2>We hold a meeting of stockholders
annually. This year&#146;s meeting will be held on May 26, 2009. There will be
several items of business that must be voted on by our stockholders at the
meeting, and our Board of Directors is seeking your proxy to vote on these
items. This proxy statement contains important information about Vishay
Intertechnology, Inc. and the matters that will be voted on at the meeting.
Please read these materials carefully so that you have the information you need
to make informed decisions. Throughout this proxy statement, we will refer to
ourselves as &#147;Vishay Intertechnology, Inc.,&#148; &#147;Vishay,&#148; &#147;we,&#148; &#147;our,&#148; or the
&#147;Company.&#148; </FONT></P>
<P align=justify><B><I><FONT face=serif size=2>What is a proxy?
</FONT></I></B></P>
<P align=justify><FONT face=serif size=2>A proxy is your legal designation of
another person to vote the shares of stock that you own. The person you
designate to vote your shares is also called a proxy. When you submit a proxy,
the people named on the proxy card are required to vote your shares at the
annual meeting in the manner you have instructed. </FONT></P>
<P align=justify><B><I><FONT face=serif size=2>What is the record date and why
is it important? </FONT></I></B></P>
<P align=justify><FONT face=serif size=2>The record date is the date used by our
Board of Directors to determine which stockholders are entitled to receive
notice of, and vote on the items presented at, the annual meeting. Our Board
established March 30, 2009 as the record date for the 2009 annual meeting.
</FONT><FONT face=serif></FONT></P>
<P align=justify><B><I><FONT face=serif size=2>What is the difference between
&#147;Stockholders of Record&#148; and &#147;Beneficial Owners&#148;? </FONT></I></B></P>
<P align=justify><FONT face=serif size=2>If your shares are registered directly
in your name with Vishay&#146;s transfer agent, you are considered, with respect to
those shares, the stockholder of record. The proxy statement, annual report and
proxy card have been sent directly to you by Vishay.</FONT></P>
<P align=justify><FONT face=serif size=2>If your shares are held in a stock
brokerage account or by a bank or other nominee, you are considered the
beneficial owner of shares held in street name. This proxy statement and annual
report have been forwarded to you by your broker, bank, or nominee who is
considered, with respect to those shares, the stockholder of record. As the
beneficial owner, you have the right to direct your broker, bank, or nominee how
to vote your shares by using the voting instruction card included in the mailing
or by following their instructions for voting.</FONT></P>
<P align=justify><B><I><FONT face=serif size=2>Who can attend the meeting?
</FONT></I></B><FONT face=serif></FONT></P>
<P align=justify><FONT face=serif size=2>All stockholders as of the record date,
or their duly appointed proxies, are invited to attend the meeting. </FONT><FONT face=serif></FONT></P>
<P align=center><FONT face=serif size=2>1 </FONT></P>
<HR align=center width="100%" noShade SIZE=2>
<PAGE>
<P align=justify><B><I><FONT face=serif size=2>What proposals will I be voting
on and how does the Board of Directors recommend I vote? </FONT></I></B><FONT face=serif></FONT></P>
<P align=justify><FONT face=serif size=2>The Board of Directors&#146; recommendations
are set forth together with the description of each proposal in this proxy
statement. In summary, the Board of Directors (the &#147;Board&#148;) recommends a vote
</FONT></P>
<UL style="FONT-SIZE: 10pt; TEXT-ALIGN: justify">
  <LI><FONT face=serif size=2></FONT><B><FONT face=serif size=2>FOR</FONT></B><FONT face=serif size=2> the election of four directors
  to hold office for terms of three years and until their successors are duly
  elected and qualified (see Proposal One); and</FONT>
  <LI><B><FONT face=serif size=2>FOR</FONT></B><FONT face=serif size=2> the
  ratification of the appointment of Ernst &amp; Young LLP as Vishay&#146;s
  independent registered public accounting firm for the year ending December 31,
  2009 (see Proposal Two).</FONT></LI></UL>
<P align=justify><B><I><FONT face=serif size=2>Does Vishay have more than one
class of stock outstanding? </FONT></I></B></P>
<P align=justify><FONT face=serif size=2>We have two classes of stock
outstanding, common stock and Class B common stock. On the record date, there
were 172,205,536 shares of common stock and 14,352,888 shares of Class B common
stock outstanding and entitled to vote.</FONT></P>
<P align=justify><B><I><FONT face=serif size=2>What are the voting rights of
each class of stock? </FONT></I></B></P>
<P align=justify><FONT face=serif size=2>Each share of common stock will be
entitled to one vote and each share of Class B common stock will be entitled to
10 votes with respect to each matter to be voted on at the annual
meeting.</FONT></P>
<P align=justify><FONT face=serif size=2>A list of stockholders entitled to vote
at the annual meeting will be available for examination by Vishay&#146;s stockholders
during ordinary business hours for a period of ten days prior to the annual
meeting at Vishay&#146;s World Headquarters, located at 63 Lancaster Avenue, Malvern,
PA 19355. A stockholder list will also be available for examination at the
annual meeting. </FONT></P>
<P align=justify><B><I><FONT face=serif size=2>What constitutes a quorum?
</FONT></I></B></P>
<P align=justify><FONT face=serif size=2>A quorum is the minimum number of votes
required to be present at the annual meeting to conduct business. As set forth
in Vishay&#146;s by-laws, the holders of a majority of the votes represented by the
outstanding shares of common stock and Class B common stock, voting together as
a single class, present in person or represented by proxy, will constitute a
quorum for the transaction of business at the annual meeting.</FONT></P>
<P align=justify><B><I><FONT face=serif size=2>How are abstentions and broker
non-votes considered? </FONT></I></B></P>
<P align=justify><FONT face=serif size=2>Shares represented by proxies that are
properly marked &#147;ABSTAIN&#148; will be counted for purposes of determining the
presence of a quorum at the annual meeting. Abstentions are regarded as voted
shares and will have the same effect as a vote &#147;AGAINST&#148; Proposal Two.
Abstentions will have no effect on the election of directors under Proposal
One.</FONT></P>
<P align=justify><FONT face=serif size=2>Brokers holding shares for beneficial
owners in street name must vote those shares according to specific instructions
they receive from the beneficial owners. If instructions are not received,
brokers may only vote the shares, in their discretion, on matters for which they
are not precluded from exercising their discretion by the rules of the New York
Stock Exchange (&#147;NYSE&#148;). A broker &#147;non-vote&#148; occurs when a broker holding shares
for a beneficial owner does not vote on a particular proposal because the broker
does not have discretionary voting power with respect to that item and has not
received instructions from the beneficial owner. Broker non-votes will be
counted in determining whether there is a quorum at the annual meeting but will
not be regarded as voted shares. Under the NYSE rules, brokers may vote in their
discretion on Proposals One and Two. Accordingly, the failure of a broker to
vote on these matters will not be considered a broker non-vote. </FONT></P>
<P align=justify><B><I><FONT face=serif size=2>What vote is required to approve
each proposal? </FONT></I></B></P>
<P align=justify><FONT face=serif size=2>Assuming a quorum is present, the vote
required and method of calculation for the proposals to be considered at the
annual meeting are as follows: </FONT></P>
<UL style="FONT-SIZE: 10pt; TEXT-ALIGN: justify">
  <LI><FONT face=serif size=2></FONT><B><FONT face=serif size=2>Proposal One.
  </FONT></B><FONT face=serif size=2>The election of four directors to hold
  office for terms of three years or until their successors are duly elected and
  qualified requires a plurality of the votes of the shares of common stock and
  Class B common stock, voting together as a single class, present in person or
  represented by proxy and voted on the election of directors.</FONT>
  <LI><B><FONT face=serif size=2>Proposal Two. </FONT></B><FONT face=serif size=2>The ratification of the appointment of Ernst &amp; Young LLP as
  Vishay&#146;s independent registered public accounting firm for the year ending
  December 31, 2009 requires the affirmative vote of holders of a majority of
  the votes of the shares of common stock and Class B common stock, voting
  together as a single class, present in person or represented by
  proxy.</FONT></LI></UL>
<P align=center><FONT face=serif size=2>2 </FONT></P>
<HR align=center width="100%" noShade SIZE=2>
<PAGE>
<P align=justify><B><I><FONT face=serif size=2>How do I vote my shares? Can I
vote electronically? </FONT></I></B><FONT face=serif size=2></FONT></P>
<P align=justify><FONT face=serif size=2>Please complete, date, and sign the
enclosed proxy card and return it without delay in the enclosed envelope, which
requires no additional postage if mailed in the United States. </FONT></P>
<P align=justify><FONT face=serif size=2>If you are enrolled in our electronic
proxy materials delivery service and received these proxy materials via the
Internet, you will need to follow the procedures for online voting in order to
vote your shares.</FONT></P>
<P align=justify><FONT face=serif size=2>The shares represented by the
accompanying proxy will be voted as directed with respect to each of the
proposals set forth in the proxy statement, OR, if no direction is indicated, at
the recommendations of the Board of Directors. </FONT></P>
<P align=justify><FONT face=serif size=2>You may either vote &#147;FOR ALL&#148; or
&#147;WITHHOLD&#148; your vote for the election of the nominees as directors under
Proposal One, or you may vote for only some of the nominees. You may vote &#147;FOR,&#148;
&#147;AGAINST&#148; or &#147;ABSTAIN&#148; on Proposal Two. </FONT></P>
<P align=justify><FONT face=serif size=2>Whether or not you plan to attend the
meeting, we strongly encourage you to vote by proxy prior to the meeting.
</FONT></P>
<P align=justify><B><I><FONT face=serif size=2>Can I change my vote after I
return my proxy card? </FONT></I></B></P>
<P align=justify><FONT face=serif size=2>Yes. You may revoke your proxy at any
time before it is voted at the annual meeting. In order to revoke your proxy,
you may either: </FONT></P>
<UL style="FONT-SIZE: 10pt; TEXT-ALIGN: justify">
  <LI><FONT face=serif size=2>sign and timely return another proxy card bearing
  a later date; or</FONT>
  <LI><FONT face=serif size=2>provide written notice of the revocation to
  Vishay&#146;s Corporate Secretary; or</FONT>
  <LI><FONT face=serif size=2>attend the annual meeting and vote in person.
  </FONT></LI></UL>
<P align=justify><FONT face=serif size=2>If your shares are held in a stock
brokerage account or by a bank or other nominee, you must follow the
instructions provided by your broker, bank, or nominee on how to revoke your
proxy. </FONT></P>
<P align=justify><B><I><FONT face=serif size=2>What will happen if I provide my
proxy but do not vote on a proposal? </FONT></I></B></P>
<P align=justify><FONT face=serif size=2>You should provide voting instructions
for all proposals appearing on the proxy card. The persons named as proxies on
the enclosed proxy card will vote your shares according to your instructions.
However, if you fail to provide instructions on how you want your shares to be
voted, properly signed and dated proxies will be voted in accordance with the
recommendation of the Board of Directors.</FONT><B><I><FONT face=serif size=2>
</FONT></I></B></P>
<P align=justify><B><I><FONT face=serif size=2>What will happen if I do not
provide my proxy?</FONT></I></B></P>
<P align=justify><FONT face=serif size=2>If you are a stockholder of record,
your shares will not be voted. </FONT><FONT face=serif></FONT></P>
<P align=justify><FONT face=serif size=2>If you are the beneficial owner of
shares held in street name, your broker, bank, or other holder of record might
be authorized to vote your shares on certain routine matters. The NYSE considers
the election of directors and the ratification of the independent registered
public accounting firm to be routine matters. On these matters, your broker or
nominee can vote your street name shares on these items even though you have not
provided voting instructions, or choose not to vote your shares on these
matters.</FONT><FONT face=serif> </FONT></P>
<P align=center><FONT face=serif size=2>3 </FONT></P>
<HR align=center width="100%" noShade SIZE=2>
<PAGE>
<P align=justify><B><I><FONT face=serif size=2>Who will verify the election
results? </FONT></I></B></P>
<P align=justify><FONT face=serif size=2>Vishay will appoint an inspector who
will ascertain the number of shares outstanding and the voting powers of each,
determine the shares represented at the annual meeting and the validity of the
proxies and ballots, count all votes and ballots, determine and retain for a
reasonable period a record of the disposition of any challenges made to any
determinations by such inspector, and certify a determination of the number of
shares represented at the annual meeting and his count of all votes and ballots.
</FONT></P>
<P align=justify><B><I><FONT face=serif size=2>Are there any stockholders who
own more than 5% of Vishay&#146;s shares or voting power? </FONT></I></B></P>
<P align=justify><FONT face=serif size=2>Dr. Felix Zandman, Founder, Executive
Chairman of the Board of Directors, and Chief Technical and Business Development
Officer of Vishay, directly, beneficially, and as voting trustee under a voting
trust agreement, has sole or shared voting power over 45.2% of the total voting
power of Vishay&#146;s outstanding shares of common stock and Class B common stock
and intends to vote </FONT><B><FONT face=serif size=2>FOR</FONT></B><FONT face=serif size=2> </FONT><B><FONT face=serif size=2>ALL</FONT></B><FONT face=serif size=2> nominees and </FONT><B><FONT face=serif size=2>FOR</FONT></B><FONT face=serif size=2> Proposal Two. </FONT></P>
<P align=justify><FONT face=serif size=2>According to filings made with the
Securities and Exchange Commission (&#147;SEC&#148;), LSV Asset Management owns greater
than 5% of Vishay&#146;s outstanding common stock. See &#147;Security Ownership of Certain
Beneficial Owners and Management&#148; for more information. LSV Asset Management has
not indicated its intentions to Vishay regarding matters to be voted on at the
annual meeting. </FONT></P>
<P align=justify><B><I><FONT face=serif size=2>Who paid to send me the proxy
materials?</FONT></I></B><FONT face=serif size=2> </FONT><FONT face=serif></FONT></P>
<P align=justify><FONT face=serif size=2>Vishay is required to make these
materials available to you. The SEC recently adopted rules that allow us to
change the way we make our proxy statement and other annual meeting materials
available to you. The rules require that we mail a notice to our stockholders
advising that our proxy statement, annual report to stockholders, electronic
proxy card, and related materials are available for viewing, free of charge, on
the Internet. Stockholders may then access these materials and vote over the
Internet or request delivery of a full set of materials by mail or email. We
have elected to utilize this process for the 2009 annual meeting. We intend to
begin mailing the required notice, called Notice of Internet Availability of
Proxy Materials, to stockholders on or about April 9, 2009. The proxy materials
will be posted on the Internet, at </FONT><FONT face=serif size=2><U>ir.Vishay.com</U></FONT><FONT face=serif size=2>, no later than the
day we begin mailing the Notice. </FONT></P>
<P align=justify><FONT face=serif size=2>These rules give us the opportunity to
serve you more efficiently by making the proxy materials available quickly
online and reducing costs associated with printing and postage. If you receive a
Notice, you will not receive a paper or electronic copy of the proxy materials
unless you request one, using the procedure described in the Notice and on
Vishay&#146;s investor relations website. You may also elect to receive the Notice
for future meetings electronically, which will save Vishay printing and mailing
costs, by registering for this program at </FONT><FONT face=serif size=2><U>www.icsdelivery.com/vsh</U></FONT><FONT face=serif size=2> or by
contacting your broker. </FONT></P>
<P align=justify><FONT face=serif size=2>The cost of solicitation of proxies
will be borne by Vishay. The Board of Directors may use the services of Vishay&#146;s
directors, officers and other regular employees to solicit proxies personally or
by telephone. Arrangements will be made with brokerage houses and other
custodians, nominees and fiduciaries to forward solicitation material to the
beneficial owners of the shares held of record by such fiduciaries, and Vishay
will reimburse them for the reasonable expenses incurred by them in so doing.
</FONT></P>
<P align=center><FONT face=serif size=2>4 </FONT></P>
<HR align=center width="100%" noShade SIZE=2>
<PAGE>
<P align=center><B><FONT face=serif size=2>GOVERNANCE OF THE COMPANY
</FONT></B></P>
<P align=justify><B><I><FONT face=serif size=2>What is corporate governance?
</FONT></I></B></P>
<P align=justify><FONT face=serif size=2>Corporate governance is the process by
which companies govern themselves.</FONT></P>
<P align=justify><FONT face=serif size=2>At Vishay, day-to-day business
activities are carried out by our employees under the direction and supervision
of our Chief Executive Officer (&#147;CEO&#148;). The Board of Directors oversees these
activities. In doing so, each director is required to use his or her business
judgment in the best interests of Vishay and its stockholders. The Board&#146;s
primary responsibilities include:</FONT></P>
<UL style="FONT-SIZE: 10pt; TEXT-ALIGN: justify">
  <LI><FONT face=serif size=2></FONT><FONT face=serif size=2>Review of Vishay&#146;s
  performance, strategies, and major decisions;</FONT>
  <LI><FONT face=serif size=2>Oversight of Vishay&#146;s compliance with legal and
  regulatory requirements and the integrity of its financial statements;</FONT>
  <LI><FONT face=serif size=2>Oversight of management, including review of the
  CEO&#146;s performance and succession planning for key management roles; and</FONT>

  <LI><FONT face=serif size=2>Oversight of compensation for the CEO, key
  executives and the Board, as well as oversight of compensation policies and
  programs for all employees. </FONT></LI></UL>
<P align=justify><FONT face=serif size=2>Additional description of the Board&#146;s
responsibilities is included in our Corporate Governance Principles document,
which is available to stockholders on our website and in print upon request, as
described below. </FONT></P>
<P align=justify><B><I><FONT face=serif size=2>Where can I find more information
about the corporate governance practices of Vishay? </FONT></I></B><FONT face=serif></FONT></P>
<P align=justify><FONT face=serif size=2>Various corporate governance related
documents are available on our website. These include: </FONT></P>
<UL style="FONT-SIZE: 10pt; TEXT-ALIGN: justify">
  <LI><FONT face=serif size=2></FONT><FONT face=serif size=2>Corporate
  Governance Principles</FONT>
  <LI><FONT face=serif size=2>Code of Business Conduct and Ethics</FONT>
  <LI><FONT face=serif size=2>Code of Ethics Applicable to the Company&#146;s Chief
  Executive Officer, Chief Financial Officer, Principal Accounting Officer or
  Controller and Financial Managers</FONT>
  <LI><FONT face=serif size=2>Audit Committee Charter</FONT>
  <LI><FONT face=serif size=2>Nominating and Corporate Governance Committee
  Charter\</FONT>
  <LI><FONT face=serif size=2>Compensation Committee Charter</FONT>
  <LI><FONT face=serif size=2>Strategic Affairs Committee Charter</FONT>
  <LI><FONT face=serif size=2>Policy on Director Attendance at Annual
  Meetings</FONT>
  <LI><FONT face=serif size=2>Nominating and Corporate Governance Committee
  Policy Regarding Qualification of Directors</FONT>
  <LI><FONT face=serif size=2>Procedures for Securityholders&#146; Submissions of
  Nominating Recommendations</FONT>
  <LI><FONT face=serif size=2>Securityholder Communications with Directors and
  Interested Party Communication with Non-Management Directors</FONT>
  <LI><FONT face=serif size=2>Whistleblower and Ethics Hotline Procedures</FONT>

  <LI><FONT face=serif size=2>Related Party Transaction Policy </FONT></LI></UL>
<P align=justify><FONT face=serif size=2>To view these documents, access
</FONT><FONT face=serif size=2><U>ir.Vishay.com</U></FONT><FONT face=serif size=2> and click on &#147;Corporate Governance.&#148; Any of these documents can be
obtained in print by any stockholder upon written request to Vishay&#146;s investor
relations department.</FONT></P>
<P align=justify><FONT face=serif size=2>We intend to post any amendments to or
any waivers from, a provision of our Code of Ethics Applicable to the Company&#146;s
Chief Executive Officer, Chief Financial Officer, Principal Accounting Officer
or Controller and Financial Managers on our website.</FONT></P>
<P align=center><FONT face=serif size=2>5 </FONT></P>
<HR align=center width="100%" noShade SIZE=2>
<PAGE>
<P align=justify><B><I><FONT face=serif size=2>What is the composition of our
Board of Directors? </FONT></I></B></P>
<P align=justify><FONT face=serif size=2>Vishay has a staggered Board of
Directors divided into three classes. The number of directors is fixed by the
Board of Directors, subject to a maximum of fifteen directors as provided in the
Company&#146;s charter documents. There are currently eleven members of the Board. As
described in Proposal One, four directors will be elected to Class III for a
term expiring at the annual meeting of stockholders in 2012. Biographical
information on each of the directors is included in Proposal One. </FONT></P>
<P align=justify><B><I><FONT face=serif size=2>How does the Board determine
which directors are considered independent? </FONT></I></B></P>
<P align=justify><FONT face=serif size=2>The Board of Directors has determined
that, to be considered independent, an outside director may not have a direct or
indirect material relationship with Vishay. A material relationship is one which
impairs or inhibits, or has the potential to impair or inhibit, a director&#146;s
exercise of critical and disinterested judgment on behalf of Vishay and its
stockholders. The materiality standard applied by the Board includes, but is not
limited to, the disqualifying relationships set forth in the governance listing
standards of the NYSE.</FONT></P>
<P align=justify><FONT face=serif size=2>Accordingly, the Board has concluded
that Zvi Grinfas, Eliyahu Hurvitz, Dr. Abraham Ludomirski, Wayne M. Rogers,
Ronald Ruzic, and Thomas Wertheimer qualify as independent directors. Each of
the Audit Committee, the Nominating and Corporate Governance Committee, the
Compensation Committee, and the Strategic Affairs Committee of the Board is
composed entirely of independent directors.</FONT></P>
<P align=justify><B><I><FONT face=serif size=2>How often did the Board meet
during 2008? </FONT></I></B></P>
<P align=justify><FONT face=serif size=2>The Board of Directors met 12 times
during the year ended December 31, 2008. In 2008, each director attended at
least 75% of the aggregate number of meetings of the Board of Directors and any
Committee on which such director served, except for Mr. Hurvitz who attended 50%
and Mr. Solomon who attended 64%. In those instances when Mr. Hurvitz has been
unable to attend meetings of the Board or the Committee on which he serves, he
has communicated in advance his views on the matters to be discussed to the
Chairman of the Board or to other directors, in order to assure that his point
of view on these matters will be known to the directors. Information regarding
Vishay&#146;s policy on director attendance at annual meetings of stockholders and
the number of directors attending last year&#146;s annual meeting may be found on our
website at </FONT><FONT face=serif size=2><U>ir.Vishay.com</U></FONT><FONT face=serif size=2>. </FONT></P>
<P align=justify><FONT face=serif size=2>The non-management directors also
periodically meet in sessions where management directors are not present. During
the year ended December 31, 2008, the non-management directors met two
times.</FONT></P>
<P align=justify><B><I><FONT face=serif size=2>What is the role of the Board&#146;s
Committees? </FONT></I></B></P>
<P align=justify><FONT face=serif size=2>The Board of Directors maintains an
Executive Committee, a Nominating and Corporate Governance Committee, an Audit
Committee, a Compensation Committee and a Strategic Affairs Committee, each of
which is described below. </FONT></P>
<P align=justify><I><FONT face=serif size=2>Executive
Committee</FONT></I><B><FONT face=serif size=2> - </FONT></B><FONT face=serif size=2>The Executive Committee is authorized to exercise all functions of the
Board of Directors in the intervals between meetings of the Board to the extent
permitted by Delaware law. The current chairman of the Committee is Dr. Zandman.
</FONT></P>
<P align=justify><I><FONT face=serif size=2>Nominating and Corporate Governance
Committee</FONT></I><B><FONT face=serif size=2> - </FONT></B><FONT face=serif size=2>The functions of the Nominating and Corporate Governance Committee
include identifying individuals qualified to become members of the Board;
selecting, or recommending that the Board of Directors select, the director
nominees for the next annual meeting of stockholders; developing and
recommending to the Board a set of corporate governance principles for Vishay;
overseeing the evaluation of the Board and the management of Vishay;
administering Vishay&#146;s Related Party Transactions Policy; and performing other
related functions specified in the Committee&#146;s charter. A copy of the
Committee&#146;s charter is available to stockholders on our website and in print
upon request.</FONT></P>
<P align=justify><FONT face=serif size=2>The chairman of the Nominating and
Corporate Governance Committee is designated under our Corporate Governance
Principles to preside at the executive sessions of the Board&#146;s non-management
directors. The current chairman of the Committee is Mr. Hurvitz. </FONT></P>
<P align=center><FONT face=serif size=2>6 </FONT></P>
<HR align=center width="100%" noShade SIZE=2>
<PAGE>
<P align=justify><I><FONT face=serif size=2>Audit Committee</FONT></I><B><FONT face=serif size=2> - </FONT></B><FONT face=serif size=2>The functions of the
Audit Committee include overseeing Vishay&#146;s accounting and financial reporting
processes; overseeing the audits of our consolidated financial statements and
the effectiveness of our internal control over financial reporting; assisting
the Board in its oversight of the integrity of our financial statements, our
compliance with legal and regulatory requirements, the independence and
qualifications of our independent registered public accounting firm, and the
performance of our internal audit function and independent registered public
accounting firm; and performing other related functions specified in the
Committee&#146;s charter. A copy of the Committee&#146;s charter is available to
stockholders on our website and in print upon request. Also see &#147;Audit Committee
Report.&#148; </FONT></P>
<P align=justify><FONT face=serif size=2>The Audit Committee consists of three
non-management directors, each of whom satisfies the independence requirements
of the rules of the SEC and the governance listing requirements of the NYSE. All
of the members of the Committee also satisfy the financial literacy requirements
of the NYSE and Mr. Wertheimer, the chairman of the Committee, qualifies as an
audit committee financial expert under the rules of the SEC. </FONT></P>
<P align=justify><I><FONT face=serif size=2>Compensation
Committee</FONT></I><B><FONT face=serif size=2> - </FONT></B><FONT face=serif size=2>The functions of the Compensation Committee include evaluating the
performance of the Chief Executive Officer and, based on this evaluation,
determining and approving the compensation of the Chief Executive Officer;
making recommendations to the Board with respect to compensation of our other
executive officers; making recommendations to the Board with respect to
compensation of non-management directors; making recommendations to the Board
with respect to, and administering, our incentive compensation plans and equity
based compensation plans; and performing other related functions specified in
the Committee&#146;s charter. The Compensation Committee is authorized, within the
limits of the 2007 Stock Incentive Program of Vishay, to determine the
individuals who are to receive grants, including stock, stock options,
restricted stock and restricted stock units, and the vesting requirements with
respect to those grants, and to administer and interpret the plan. The current
chairman of the Committee is Mr. Grinfas. A copy of the Committee&#146;s charter is
available to stockholders on our website and in print upon request. Also see
&#147;Executive Compensation.&#148; </FONT></P>
<P align=justify><I><FONT face=serif size=2>Strategic Affairs Committee &#150;
</FONT></I><FONT face=serif size=2>The functions of the Strategic Affairs
Committee include advising and making recommendations to the Board and
management with respect to potential significant acquisitions, divestitures,
joint ventures, business combinations, restructuring and other strategic
initiatives, and considering and negotiating on behalf of the Company strategic
initiatives involving the Company&#146;s management with respect to which actual or
perceived conflicts may exist with management directors. The current chairman of
the Committee is Mr. Wertheimer. A copy of the Committee&#146;s charter is available
to stockholders on our website and in print upon request.</FONT></P>
<P align=justify><FONT face=serif size=2>The following table summarizes the
composition of these committees as of March 30, 2009: </FONT></P>
<TABLE cellSpacing=0 cellPadding=0 width="100%" border=0>

  <TR vAlign=bottom>
    <TD noWrap align=left width="70%"></TD>
    <TD noWrap align=center width="1%"></TD>
    <TD noWrap align=center width="5%"></TD>
    <TD noWrap align=center width="1%"></TD>
    <TD noWrap align=center width="5%"></TD>
    <TD noWrap align=center width="1%"></TD>
    <TD noWrap align=center width="5%"><B><FONT face=serif size=1>Nominating
      and</FONT></B> </TD>
    <TD noWrap align=center width="1%"></TD>
    <TD noWrap align=center width="5%"></TD>
    <TD noWrap align=center width="1%"></TD>
    <TD noWrap align=center width="5%"><B><FONT face=serif size=1>Strategic</FONT></B> </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="70%"></TD>
    <TD noWrap align=center width="1%"></TD>
    <TD noWrap align=center width="5%"><B><FONT face=serif size=1>Executive</FONT></B> </TD>
    <TD noWrap align=center width="1%"></TD>
    <TD noWrap align=center width="5%"><B><FONT face=serif size=1>Audit</FONT></B>&nbsp; </TD>
    <TD noWrap align=center width="1%"></TD>
    <TD noWrap align=center width="5%"><B><FONT face=serif size=1>Corporate
      Governance</FONT></B> </TD>
    <TD noWrap align=center width="1%"></TD>
    <TD noWrap align=center width="5%"><B><FONT face=serif size=1>Compensation</FONT></B> </TD>
    <TD noWrap align=center width="1%"></TD>
    <TD noWrap align=center width="5%"><B><FONT face=serif size=1>Affairs</FONT></B> </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="70%"></TD>
    <TD noWrap align=center width="1%"></TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="5%"><B><FONT face=serif size=1>Committee</FONT></B> </TD>
    <TD noWrap align=center width="1%"></TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="5%"><B><FONT face=serif size=1>Committee</FONT></B> </TD>
    <TD noWrap align=center width="1%"></TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="5%"><B><FONT face=serif size=1>Committee</FONT></B> </TD>
    <TD noWrap align=center width="1%"></TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="5%"><B><FONT face=serif size=1>Committee</FONT></B> </TD>
    <TD noWrap align=center width="1%"></TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="5%"><B><FONT face=serif size=1>Committee</FONT></B> </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="70%"></TD>
    <TD noWrap align=center width="1%">&nbsp;&nbsp;&nbsp;&nbsp; </TD>
    <TD noWrap align=center width="5%"><FONT face=serif size=1>(1)</FONT> </TD>
    <TD noWrap align=center width="1%">&nbsp;&nbsp;&nbsp;&nbsp; </TD>
    <TD noWrap align=center width="5%"></TD>
    <TD noWrap align=center width="1%">&nbsp;&nbsp;&nbsp;&nbsp; </TD>
    <TD noWrap align=center width="5%"><FONT face=serif size=1>(2)</FONT> </TD>
    <TD noWrap align=center width="1%">&nbsp;&nbsp;&nbsp;&nbsp; </TD>
    <TD noWrap align=center width="5%"></TD>
    <TD noWrap align=center width="1%">&nbsp;&nbsp;&nbsp;&nbsp; </TD>
    <TD noWrap align=center width="5%"><FONT face=serif size=1>(3)</FONT>
  </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="70%" bgColor=#c0c0c0><FONT face=serif size=1>Dr. Felix Zandman</FONT> </TD>
    <TD noWrap align=center width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=center width="5%" bgColor=#c0c0c0><B><FONT face=serif size=1>**</FONT></B> </TD>
    <TD noWrap align=center width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=center width="5%" bgColor=#c0c0c0><FONT face=serif size=1>&#151;</FONT> </TD>
    <TD noWrap align=center width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=center width="5%" bgColor=#c0c0c0><FONT face=serif size=1>&#151;</FONT> </TD>
    <TD noWrap align=center width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=center width="5%" bgColor=#c0c0c0><FONT face=serif size=1>&#151;</FONT> </TD>
    <TD noWrap align=center width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=center width="5%" bgColor=#c0c0c0><FONT face=serif size=1>&#151;</FONT> </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="70%"><FONT face=serif size=1>Eliyahu
      Hurvitz</FONT> </TD>
    <TD noWrap align=right width="1%"></TD>
    <TD noWrap align=center width="5%"><FONT face=serif size=1>&#151;</FONT> </TD>
    <TD noWrap align=center width="1%"></TD>
    <TD noWrap align=center width="5%"><FONT face=serif size=1>&#151;</FONT> </TD>
    <TD noWrap align=center width="1%"></TD>
    <TD noWrap align=center width="5%"><B><FONT face=serif size=1>**</FONT></B> </TD>
    <TD noWrap align=center width="1%"></TD>
    <TD noWrap align=center width="5%"><FONT face=serif size=1>&#151;</FONT> </TD>
    <TD noWrap align=center width="1%"></TD>
    <TD noWrap align=center width="5%"><FONT face=serif size=1>&#151;</FONT> </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="70%" bgColor=#c0c0c0><FONT face=serif size=1>Zvi Grinfas</FONT>&nbsp; </TD>
    <TD noWrap align=right width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=center width="5%" bgColor=#c0c0c0><FONT face=serif size=1>&#151;</FONT> </TD>
    <TD noWrap align=center width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=center width="5%" bgColor=#c0c0c0><B><FONT face=serif size=1>*</FONT></B> </TD>
    <TD noWrap align=center width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=center width="5%" bgColor=#c0c0c0><FONT face=serif size=1>&#151;</FONT> </TD>
    <TD noWrap align=center width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=center width="5%" bgColor=#c0c0c0><B><FONT face=serif size=1>**</FONT></B> </TD>
    <TD noWrap align=center width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=center width="5%" bgColor=#c0c0c0><B><FONT face=serif size=1>*</FONT></B> </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="70%"><FONT face=serif size=1>Dr. Abraham
      Ludomirski</FONT> </TD>
    <TD noWrap align=right width="1%"></TD>
    <TD noWrap align=center width="5%"><FONT face=serif size=1>&#151;</FONT> </TD>
    <TD noWrap align=center width="1%"></TD>
    <TD noWrap align=center width="5%"><FONT face=serif size=1>&#151;</FONT> </TD>
    <TD noWrap align=center width="1%"></TD>
    <TD noWrap align=center width="5%"><B><FONT face=serif size=1>*</FONT></B>
    </TD>
    <TD noWrap align=center width="1%"></TD>
    <TD noWrap align=center width="5%"><B><FONT face=serif size=1>*</FONT></B>
    </TD>
    <TD noWrap align=center width="1%"></TD>
    <TD noWrap align=center width="5%"><B><FONT face=serif size=1>*</FONT></B>
    </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="70%" bgColor=#c0c0c0><FONT face=serif size=1>Dr. Gerald Paul</FONT> </TD>
    <TD noWrap align=right width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=center width="5%" bgColor=#c0c0c0><FONT face=serif size=1>*</FONT> </TD>
    <TD noWrap align=center width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=center width="5%" bgColor=#c0c0c0><FONT face=serif size=1>&#151;</FONT> </TD>
    <TD noWrap align=center width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=center width="5%" bgColor=#c0c0c0><FONT face=serif size=1>&#151;</FONT> </TD>
    <TD noWrap align=center width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=center width="5%" bgColor=#c0c0c0><FONT face=serif size=1>&#151;</FONT> </TD>
    <TD noWrap align=center width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=center width="5%" bgColor=#c0c0c0><FONT face=serif size=1>&#151;</FONT> </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="70%"><FONT face=serif size=1>Wayne M.
      Rogers</FONT> </TD>
    <TD noWrap align=right width="1%"></TD>
    <TD noWrap align=center width="5%"><FONT face=serif size=1>&#151;</FONT> </TD>
    <TD noWrap align=center width="1%"></TD>
    <TD noWrap align=center width="5%"><FONT face=serif size=1>*</FONT> </TD>
    <TD noWrap align=center width="1%"></TD>
    <TD noWrap align=center width="5%"><FONT face=serif size=1>&#151;</FONT> </TD>
    <TD noWrap align=center width="1%">&nbsp;</TD>
    <TD noWrap align=center width="5%"><FONT face=serif size=1>&#151;</FONT> </TD>
    <TD noWrap align=center width="1%"></TD>
    <TD noWrap align=center width="5%"><FONT face=serif size=1>&#151;</FONT> </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="70%" bgColor=#c0c0c0><FONT face=serif size=1>Ziv Shoshani</FONT>&nbsp; </TD>
    <TD noWrap align=right width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=center width="5%" bgColor=#c0c0c0><FONT face=serif size=1>*</FONT> </TD>
    <TD noWrap align=center width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=center width="5%" bgColor=#c0c0c0><FONT face=serif size=1>&#151;</FONT> </TD>
    <TD noWrap align=center width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=center width="5%" bgColor=#c0c0c0><FONT face=serif size=1>&#151;</FONT> </TD>
    <TD noWrap align=center width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=center width="5%" bgColor=#c0c0c0><FONT face=serif size=1>&#151;</FONT> </TD>
    <TD noWrap align=center width="1%" bgColor=#c0c0c0>&nbsp;</TD>
    <TD noWrap align=center width="5%" bgColor=#c0c0c0><FONT face=serif size=1>&#151;</FONT> </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="70%"><FONT face=serif size=1>Ronald
      Ruzic</FONT>&nbsp; </TD>
    <TD noWrap align=right width="1%"></TD>
    <TD noWrap align=center width="5%"><FONT face=serif size=1>&#151;</FONT> </TD>
    <TD noWrap align=center width="1%"></TD>
    <TD noWrap align=center width="5%"><FONT face=serif size=1>&#151;</FONT> </TD>
    <TD noWrap align=center width="1%">&nbsp;</TD>
    <TD noWrap align=center width="5%"><B><FONT face=serif size=1>*</FONT></B>
    </TD>
    <TD noWrap align=center width="1%"></TD>
    <TD noWrap align=center width="5%"><FONT face=serif size=1>&#151;</FONT> </TD>
    <TD noWrap align=center width="1%"></TD>
    <TD noWrap align=center width="5%"><FONT face=serif size=1>&#151;</FONT> </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="70%" bgColor=#c0c0c0><FONT face=serif size=1>Thomas C. Wertheimer</FONT> </TD>
    <TD noWrap align=right width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=center width="5%" bgColor=#c0c0c0><FONT face=serif size=1>&#151;</FONT> </TD>
    <TD noWrap align=center width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=center width="5%" bgColor=#c0c0c0><B><FONT face=serif size=1>**</FONT></B> </TD>
    <TD noWrap align=center width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=center width="5%" bgColor=#c0c0c0><FONT face=serif size=1>&#151;</FONT> </TD>
    <TD noWrap align=center width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=center width="5%" bgColor=#c0c0c0><B><FONT face=serif size=1>*</FONT></B> </TD>
    <TD noWrap align=center width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=center width="5%" bgColor=#c0c0c0><B><FONT face=serif size=1>**</FONT></B> </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="70%"><FONT face=serif size=1>Marc
      Zandman</FONT>&nbsp; </TD>
    <TD noWrap align=right width="1%"></TD>
    <TD noWrap align=center width="5%"><FONT face=serif size=1>*</FONT> </TD>
    <TD noWrap align=center width="1%"></TD>
    <TD noWrap align=center width="5%"><FONT face=serif size=1>&#151;</FONT> </TD>
    <TD noWrap align=center width="1%"></TD>
    <TD noWrap align=center width="5%"><FONT face=serif size=1>&#151;</FONT> </TD>
    <TD noWrap align=center width="1%"></TD>
    <TD noWrap align=center width="5%"><FONT face=serif size=1>&#151;</FONT> </TD>
    <TD noWrap align=center width="1%"></TD>
    <TD noWrap align=center width="5%"><FONT face=serif size=1>&#151;</FONT> </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="70%" bgColor=#c0c0c0><FONT face=serif size=1>Ruta Zandman</FONT>&nbsp; </TD>
    <TD noWrap align=right width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=center width="5%" bgColor=#c0c0c0><FONT face=serif size=1>&#151;</FONT> </TD>
    <TD noWrap align=center width="1%" bgColor=#c0c0c0>&nbsp;</TD>
    <TD noWrap align=center width="5%" bgColor=#c0c0c0><FONT face=serif size=1>&#151;</FONT> </TD>
    <TD noWrap align=center width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=center width="5%" bgColor=#c0c0c0><FONT face=serif size=1>&#151;</FONT> </TD>
    <TD noWrap align=center width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=center width="5%" bgColor=#c0c0c0><FONT face=serif size=1>&#151;</FONT> </TD>
    <TD noWrap align=center width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=center width="5%" bgColor=#c0c0c0><FONT face=serif size=1>&#151;</FONT> </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="70%"><B><FONT face=serif size=1>Number of
      Meetings during 2008</FONT></B> </TD>
    <TD noWrap align=right width="1%">&nbsp;</TD>
    <TD noWrap align=center width="5%"><FONT face=serif size=1>1</FONT> </TD>
    <TD noWrap align=center width="1%"></TD>
    <TD noWrap align=center width="5%"><FONT face=serif size=1>12</FONT> </TD>
    <TD noWrap align=center width="1%"></TD>
    <TD noWrap align=center width="5%"><FONT face=serif size=1>2</FONT> </TD>
    <TD noWrap align=center width="1%"></TD>
    <TD noWrap align=center width="5%"><FONT face=serif size=1>10</FONT> </TD>
    <TD noWrap align=center width="1%"></TD>
    <TD noWrap align=center width="5%"><FONT face=serif size=1>9</FONT> </TD></TR>
  <TR>
    <TD width="100%" colSpan=11></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="70%" bgColor=#c0c0c0><FONT face=serif size=1><STRONG>Actions by Unanimous Consent in Lieu of</STRONG><FONT size=3> </FONT></FONT></TD>
    <TD noWrap align=right width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=center width="5%" bgColor=#c0c0c0></TD>
    <TD noWrap align=center width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=center width="5%" bgColor=#c0c0c0>&nbsp;</TD>
    <TD noWrap align=center width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=center width="5%" bgColor=#c0c0c0>&nbsp;</TD>
    <TD noWrap align=center width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=center width="5%" bgColor=#c0c0c0>&nbsp;</TD>
    <TD noWrap align=center width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=center width="5%" bgColor=#c0c0c0>&nbsp;</TD></TR>
  <TR>
    <TD noWrap align=left width="70%" bgColor=#c0c0c0><FONT size=1><STRONG>Meeting during 2008</STRONG></FONT><FONT size=3> </FONT></TD>
    <TD noWrap align=right width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=center width="5%" bgColor=#c0c0c0><FONT size=1>1</FONT>
    </TD>
    <TD noWrap align=center width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=center width="5%" bgColor=#c0c0c0><FONT size=1>0</FONT>
    </TD>
    <TD noWrap align=center width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=center width="5%" bgColor=#c0c0c0><FONT size=1>0</FONT><FONT style="BACKGROUND-COLOR: #c0c0c0" size=3> </FONT></TD>
    <TD noWrap align=center width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=center width="5%" bgColor=#c0c0c0><FONT size=1>0</FONT>
    </TD>
    <TD noWrap align=center width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=center width="5%" bgColor=#c0c0c0><FONT size=1>0</FONT>
    </TD></TR></TABLE>____________________<BR>&nbsp;<BR>
<TABLE cellSpacing=0 cellPadding=0 width="100%" border=0>

  <TR vAlign=bottom>
    <TD vAlign=top align=left width="1%"><FONT face=serif size=2>(1)</FONT></TD>
    <TD vAlign=top align=left width="1%"><FONT size=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></TD>
    <TD vAlign=top align=left width="97%">
      <P align=justify><FONT face=serif size=2>The Executive Committee meets
      informally throughout the year to discuss various business
      issues.</FONT></P></TD></TR>
  <TR>
    <TD vAlign=top align=left width="1%"><FONT size=2>&nbsp;</FONT></TD>
    <TD vAlign=top align=left width="1%"><FONT size=2>&nbsp;</FONT></TD>
    <TD vAlign=top align=left width="97%"><FONT size=2>&nbsp;</FONT></TD></TR>
  <TR vAlign=bottom>
    <TD vAlign=top align=left width="1%"><FONT face=serif size=2>(2)</FONT></TD>
    <TD vAlign=top align=left width="1%"><FONT size=2>&nbsp;</FONT></TD>
    <TD vAlign=top align=left width="97%">
      <P align=justify><FONT face=serif size=2>Mr. Ruzic replaced Mr. Solomon on
      the Nominating and Corporate Governance Committee, on February 27, 2009,
      following Mr. Solomon&#146;s resignation from the Board effective January 1,
      2009.</FONT></P></TD></TR>
  <TR>
    <TD vAlign=top align=left width="1%"><FONT size=2>&nbsp;</FONT></TD>
    <TD vAlign=top align=left width="1%"><FONT size=2>&nbsp;</FONT></TD>
    <TD vAlign=top align=left width="97%"><FONT size=2>&nbsp;</FONT></TD></TR>
  <TR vAlign=bottom>
    <TD vAlign=top align=left width="1%"><FONT face=serif size=2>(3)</FONT></TD>
    <TD vAlign=top align=left width="1%"><FONT size=2>&nbsp;</FONT></TD>
    <TD vAlign=top align=left width="97%">
      <P align=justify><FONT face=serif size=2>The Strategic Affairs Committee
      was formed January 17, 2008.</FONT></P></TD></TR>
  <TR>
    <TD vAlign=top align=left width="1%"><FONT size=2>&nbsp;</FONT></TD>
    <TD vAlign=top align=left width="1%"><FONT size=2>&nbsp;</FONT></TD>
    <TD vAlign=top align=left width="97%"><FONT size=2>&nbsp;</FONT></TD></TR>
  <TR>
    <TD vAlign=top align=left width="1%"><FONT size=2>*</FONT></TD>
    <TD vAlign=top align=left width="1%"><FONT size=2>&nbsp;</FONT></TD>
    <TD vAlign=top align=left width="97%">
      <P align=justify><FONT size=2>Member</FONT></P></TD></TR>
  <TR>
    <TD vAlign=top align=left width="1%"><FONT size=2>&nbsp;</FONT></TD>
    <TD vAlign=top align=left width="1%"><FONT size=2>&nbsp;</FONT></TD>
    <TD vAlign=top align=left width="97%"><FONT size=2>&nbsp;</FONT></TD></TR>
  <TR>
    <TD vAlign=top align=left width="1%"><FONT size=2>**</FONT></TD>
    <TD vAlign=top align=left width="1%"><FONT size=2>&nbsp;</FONT></TD>
    <TD vAlign=top align=left width="97%">
      <P align=justify><FONT size=2>Chairman</FONT></P></TD></TR></TABLE>
<P align=center><FONT face=serif size=2>7 </FONT></P>
<HR align=center width="100%" noShade SIZE=2>
<PAGE>
<P align=justify><B><I><FONT face=serif size=2>How does the Board select
nominees for the Board? </FONT></I></B></P>
<P align=justify><FONT face=serif size=2>In selecting candidates for nomination
at the annual meeting of our stockholders, the Nominating and Corporate
Governance Committee begins by determining whether the incumbent directors whose
terms expire at the meeting desire and are qualified to continue their service
on the Board. We are of the view that the repeated service of qualified
incumbents promotes stability and continuity in the boardroom, giving us the
benefit of the familiarity and insight into our affairs that our directors have
accumulated during their tenure and contributing to the Board&#146;s ability to work
as a collective body. Accordingly, it is the policy of the Committee, absent
special circumstances, to nominate qualified incumbent directors who continue to
satisfy the Committee&#146;s criteria for membership on the Board, who the Committee
believes will continue to make important contributions to the Board, and who
consent to stand for re-election and, if re-elected, to continue their service
on the Board. If there are Board positions for which the Committee will not be
re-nominating a qualified incumbent, the Committee will solicit recommendations
for nominees from persons who the Committee believes are likely to be familiar
with qualified candidates, including members of the Board and senior
management.</FONT></P>
<P align=justify><FONT face=serif size=2>The Committee may also engage a search
firm to assist in identifying qualified candidates. Where such a search firm is
engaged, the Committee sets the fees and scope of engagement. The Committee will
review and evaluate each candidate who it believes merits serious consideration,
taking into account all available information concerning the candidate, the
qualifications for Board membership established by the Committee, the existing
composition and mix of talent and expertise on the Board and other factors that
it deems relevant. In conducting its review and evaluation, the Committee may
solicit the views of management and other members of the Board and may, if
deemed helpful, conduct interviews of proposed candidates. The Committee will
evaluate candidates recommended by stockholders in the same manner as candidates
recommended by other persons, except that the Committee may consider, as one of
the factors in its evaluation of stockholder recommended candidates, the size
and duration of the interest of the recommending stockholder or stockholder
group in the equity of Vishay and whether the stockholders intend to continue
holding that interest through the annual meeting date. </FONT></P>
<P align=justify><B><I><FONT face=serif size=2>What qualifications must a
director have?</FONT></I></B><FONT face=serif size=2> </FONT></P>
<P align=justify><FONT face=serif size=2>Under a policy formulated by our
Nominating and Corporate Governance Committee, we generally require that all
candidates for director be persons of integrity and sound ethical character; be
able to represent all stockholders fairly; have no interests that materially
conflict with those of Vishay and its stockholders; have demonstrated
professional achievement; have meaningful management, advisory or policy making
experience; have a general appreciation of the major business issues facing
Vishay; have adequate time to devote to serve on the Board of Directors; and
satisfy our retirement policy for directors. A limited exception to some of
these requirements, other than the requirements of integrity and ethics and the
absence of material conflict, may be made for a holder of substantial voting
power. </FONT><FONT face=serif size=2>We also require that a majority of
directors be independent; at least three of the directors have the financial
literacy necessary for service on the audit committee and at least one of these
directors qualifies as an audit committee financial expert; at least some of the
independent directors have served as senior executives of public or substantial
private companies; and at least some of the independent directors have general
familiarity with the major industries in which we operate. A detailed
description of the qualifications required of candidates for director, as well
as the specific qualities or skills we believe should be possessed by one or
more directors, can be found on our website. </FONT></P>
<P align=center><FONT face=serif size=2>8</FONT></P>
<HR align=center width="100%" noShade SIZE=2>
<PAGE>
<P align=justify><B><I><FONT face=serif size=2>Can I recommend a nomination for
director?</FONT></I></B></P>
<P align=justify><FONT face=serif size=2>Yes. The Nominating and Corporate
Governance Committee will consider recommendations for director nominations
submitted by stockholders entitled to vote generally in the election of
directors. Submissions must be made in accordance with the Committee&#146;s
procedures, as outlined below and set forth on our website. For each annual
meeting of our stockholders, the Committee will accept for consideration only
one recommendation from any stockholder or affiliated group of stockholders. The
Committee will only consider candidates who satisfy our minimum qualifications
for director, as summarized in this proxy statement and as set forth on our
website. In considering a stockholder recommendation, the Committee will take
into account, among other factors, the size and duration of the recommending
stockholder&#146;s ownership interest in Vishay and whether the stockholder intends
to continue holding that interest through the annual meeting date. Stockholders
should be aware, as discussed above, that it is our general policy to
re-nominate qualified incumbent directors and that, absent special
circumstances, the Committee will not consider other candidates when a qualified
incumbent director consents to stand for re-election.</FONT></P>
<P align=justify><FONT face=serif size=2>A stockholder wishing to recommend to
the Nominating and Corporate Governance Committee a candidate for election as
director must submit the recommendation in writing, addressed to the Committee,
care of our Corporate Secretary, at Vishay Intertechnology, Inc., 63 Lancaster
Avenue, Malvern, PA 19355. Submissions must be made by mail, courier, or
personal delivery. E-mailed submissions will not be considered. Submissions
recommending candidates for election at an annual meeting of stockholders must
generally be received no later than 120 calendar days prior to the first
anniversary of the date of the proxy statement for the prior annual meeting of
stockholders. In the event that the date of an annual meeting of stockholders is
more than 30 days following the first anniversary date of the annual meeting of
stockholders for the prior year, the submission must be made a reasonable time
in advance of the mailing of our proxy statement for the current year. Each
nominating recommendation must be accompanied by the information called for by
our &#147;Procedures for Securityholders&#146; Submission of Nominating Recommendations,&#148;
which is posted on our website. This includes specified information concerning
the stockholder or group of stockholders making the recommendation and the
proposed nominee, any relationships between the recommending stockholder or
stockholders and the proposed nominee and the qualifications of the proposed
nominee to serve as director. The recommendation must also be accompanied by the
consent of the proposed nominee to serve if nominated and elected and the
agreement of the nominee to be contacted by the Committee, if the Committee
decides in its discretion to do so.</FONT></P>
<P align=justify><B><I><FONT face=serif size=2>How do stockholders and others
communicate with the Board?</FONT></I></B></P>
<P align=justify><FONT face=serif size=2>Vishay stockholders may communicate
with the Board of Directors, any Committee of the Board or any individual
director, and any interested party may communicate with the non-management
directors of the Board as a group, by delivering such communications either in
writing addressed to our Corporate Secretary at Vishay Intertechnology, Inc., 63
Lancaster Avenue, Malvern, PA 19355; or by e-mail to
<U>boardofdirectors@Vishay.com</U>. Communications should not exceed 1,000
words.</FONT></P>
<P align=justify><FONT face=serif size=2>All communications must be accompanied
by the following information: (i) if the person submitting the communication is
a securityholder, a statement of the type and amount of the securities of Vishay
that the person holds; (ii) if the person submitting the communication is not a
securityholder and is submitting the communication to the non-management
directors as an interested party, the nature of the person&#146;s interest in Vishay;
(iii) any special interest, meaning an interest not in the capacity as a
stockholder of Vishay, of the person in the subject matter of the communication;
and (iv) the address, telephone number and e-mail address, if any, of the person
submitting the communication. Communications addressed to directors may, at the
direction of the directors, be shared with Vishay&#146;s management.</FONT></P>
<P align=center><FONT face=serif size=2>9</FONT></P>
<HR align=center width="100%" noShade SIZE=2>
<PAGE>
<P align=center><B><FONT face=serif size=2>DIRECTOR COMPENSATION</FONT></B></P>
<P align=justify><FONT face=serif size=2>Our non-employee directors each
received a fee of $2,500 for each individual Board or Committee meeting attended
in person, and $1,000 for each Board or Committee meeting attended
telephonically, during 2008. Concurrent with the annual meeting, each
non-employee director receives a retainer fee of $30,000 for serving on the
Board of Directors. Directors who are also employees of Vishay do not receive
any additional compensation for their service as directors. See &#147;Executive
Compensation.&#148;</FONT></P>
<P align=justify><FONT face=serif size=2>The following table provides
information with respect to the compensation paid or provided to the Company&#146;s
non-management directors during 2008:</FONT></P>
<DIV align=center>
<TABLE style="FONT-SIZE: 12pt; LINE-HEIGHT: 14pt; BORDER-COLLAPSE: collapse" cellSpacing=0 cellPadding=0 width="95%" border=0>

  <TR vAlign=bottom>
    <TD noWrap align=center width="82%"></TD>
    <TD noWrap align=center width="1%"></TD>
    <TD noWrap align=center width="5%" colSpan=2><B><FONT face=serif size=2>Fees Earned and Paid</FONT></B></TD>
    <TD noWrap align=center width="1%"></TD>
    <TD noWrap align=center width="1%"></TD>
    <TD noWrap align=center width="4%"></TD>
    <TD noWrap align=center width="1%"></TD>
    <TD noWrap align=center width="1%"></TD>
    <TD noWrap align=center width="3%"></TD></TR>
  <TR vAlign=bottom>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="82%"><B><FONT face=serif size=2>Name</FONT></B></TD>
    <TD noWrap align=center width="1%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="5%" colSpan=2><B><FONT face=serif size=2>in Cash</FONT></B></TD>
    <TD noWrap align=center width="1%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="5%" colSpan=2><B><FONT face=serif size=2>Stock Awards
    <SUP>(1)</SUP></FONT></B></TD>
    <TD noWrap align=center width="1%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="4%" colSpan=2><B><FONT face=serif size=2>Total</FONT></B></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="82%" bgColor=#c0c0c0><FONT face=serif size=2>Zvi Grinfas <SUP>(2)</SUP></FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0><FONT face=serif size=2>$</FONT></TD>
    <TD noWrap align=right width="4%" bgColor=#c0c0c0><FONT face=serif size=2>139,500</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0><FONT face=serif size=2>$</FONT></TD>
    <TD noWrap align=right width="4%" bgColor=#c0c0c0><FONT face=serif size=2>148,200</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0><FONT face=serif size=2>$</FONT></TD>
    <TD noWrap align=right width="3%" bgColor=#c0c0c0><FONT face=serif size=2>287,700</FONT></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="82%"><FONT face=serif size=2>Eliyahu
      Hurvitz</FONT></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=right width="4%"><FONT face=serif size=2>38,500</FONT></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=right width="4%"><FONT face=serif size=2>148,200</FONT></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=right width="3%"><FONT face=serif size=2>186,700</FONT></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="82%" bgColor=#c0c0c0><FONT face=serif size=2>Dr. Abraham Ludomirski <SUP>(2)</SUP></FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0>&nbsp;</TD>
    <TD noWrap align=right width="4%" bgColor=#c0c0c0><FONT face=serif size=2>131,500</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0>&nbsp;</TD>
    <TD noWrap align=right width="4%" bgColor=#c0c0c0><FONT face=serif size=2>148,200</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=right width="3%" bgColor=#c0c0c0><FONT face=serif size=2>279,700</FONT></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="82%"><FONT face=serif size=2>Wayne M.
      Rogers</FONT></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=right width="4%"><FONT face=serif size=2>58,000</FONT></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=right width="4%"><FONT face=serif size=2>148,200</FONT></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=right width="3%"><FONT face=serif size=2>206,200</FONT></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="82%" bgColor=#c0c0c0><FONT face=serif size=2>Ronald Ruzic <SUP>(3)</SUP></FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=right width="4%" bgColor=#c0c0c0><FONT face=serif size=2>50,000</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=right width="4%" bgColor=#c0c0c0><FONT face=serif size=2>&#151;</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=right width="3%" bgColor=#c0c0c0><FONT face=serif size=2>50,000</FONT></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="82%"><FONT face=serif size=2>Mark I. Solomon
      <SUP>(4)</SUP></FONT></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=right width="4%"><FONT face=serif size=2>42,500</FONT></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=right width="4%"><FONT face=serif size=2>79,040</FONT></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=right width="3%"><FONT face=serif size=2>121,540</FONT></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="82%" bgColor=#c0c0c0><FONT face=serif size=2>Thomas C. Wertheimer <SUP>(2)</SUP></FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=right width="4%" bgColor=#c0c0c0><FONT face=serif size=2>146,500</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=right width="4%" bgColor=#c0c0c0><FONT face=serif size=2>148,200</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=right width="3%" bgColor=#c0c0c0><FONT face=serif size=2>294,700</FONT></TD></TR></TABLE></DIV>____________________<BR>&nbsp;<BR>
<TABLE cellSpacing=0 cellPadding=0 border=0>

  <TR>
    <TD vAlign=top noWrap><FONT face=serif size=2>(1)</FONT></TD>
    <TD vAlign=top>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </TD>
    <TD vAlign=top align=left width="100%">
      <P align=justify><FONT face=serif size=2>Each of the directors was granted
      24,000 restricted stock units (RSUs) in 2008, subject to the approval by
      stockholders of an amendment to the Company&#146;s Stock Incentive Plan in
      order to allow such grants. Stockholders approved the amendments on May
      28, 2008. The restricted stock units vest in three equal annual
      installments beginning on the date of stockholder approval of the
      amendment. The grant-date fair value of restricted stock awards is
      recognized over the vesting period. The amounts presented in the table
      represent the dollar amount recognized as expense during 2008 for
      financial statement reporting purposes.</FONT></P></TD></TR>
  <TR>
    <TD vAlign=top colSpan=3>&nbsp;</TD></TR>
  <TR>
    <TD vAlign=top noWrap><FONT face=serif size=2>(2)</FONT></TD>
    <TD vAlign=top></TD>
    <TD vAlign=top align=left width="100%">
      <P align=justify><FONT face=serif size=2>Mr. Grinfas, Mr. Ludomirski and
      Mr. Wertheimer each were paid $76,000 in 2008 for work associated with the
      Strategic Affairs Committee.</FONT></P></TD></TR>
  <TR>
    <TD vAlign=top colSpan=3>&nbsp;</TD></TR>
  <TR>
    <TD vAlign=top noWrap><FONT face=serif size=2>(3)</FONT></TD>
    <TD vAlign=top></TD>
    <TD vAlign=top align=left width="100%">
      <P align=justify><FONT face=serif size=2>Mr. Ruzic joined the Board of
      Directors on January 1, 2009. During 2008, Mr. Ruzic was paid a fee of
      $50,000 by Vishay in conjunction with Vishay&#146;s unsuccessful bid to elect
      him as an independent director to the board of directors of International
      Rectifier Corporation.</FONT></P></TD></TR>
  <TR>
    <TD vAlign=top colSpan=3>&nbsp;</TD></TR>
  <TR>
    <TD vAlign=top noWrap><FONT face=serif size=2>(4)</FONT></TD>
    <TD vAlign=top></TD>
    <TD vAlign=top align=left width="100%">
      <P align=justify><FONT face=serif size=2>Mr. Solomon resigned from the
      Board of Directors effective January 1, 2009. The amount of stock awards
      includes only those restricted stock units vested in 2008. No amounts were
      recognized for restricted stock units forfeited by Mr. Solomon on account
      of his resignation.</FONT></P></TD></TR></TABLE>
<P align=justify><FONT face=serif size=2>Mrs. Ruta Zandman is employed by Vishay
as a public relations associate and accordingly receives no compensation for her
service on the Board of Directors. Mrs. Zandman&#146;s salary for 2008 was $25,000.
Mrs. Zandman does not participate in any of Vishay&#146;s retirement or incentive
compensation programs.</FONT></P>
<P align=center><FONT face=serif size=2>10</FONT></P>
<HR align=center width="100%" noShade SIZE=2>
<PAGE>
<P align=center><B><FONT face=serif size=2>PROPOSAL ONE</FONT></B></P>
<P align=center><B><FONT face=serif size=2>ELECTION OF DIRECTORS</FONT></B></P>
<P align=justify><FONT face=serif size=2>Four directors will be elected to Class
III for a term expiring at the annual meeting of stockholders in
2012.</FONT></P>
<P align=justify><FONT face=serif size=2>Ziv Shoshani, Thomas C. Wertheimer,
Marc Zandman and Ruta Zandman are the nominees for election as Class III
Directors for terms of three years, expiring at the 2012 annual meeting of
stockholders. Each of the nominees is currently a member of the Board and has
consented to serve if elected.</FONT></P>
<P align=justify><FONT face=serif size=2>If any nominee for director becomes
unavailable for election, the proxies will be voted for such substitute
nominee(s) as the Board of Directors may propose. We have no reason to believe
that any of the nominees will be unable or unwilling to serve if
elected.</FONT></P>
<P align=justify><FONT face=serif size=2>The following table summarizes the
current directors:</FONT></P>
<TABLE style="FONT-SIZE: 12pt; LINE-HEIGHT: 14pt; BORDER-COLLAPSE: collapse" cellSpacing=0 cellPadding=0 width="95%" border=0>

  <TR vAlign=bottom>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="76%"><B><FONT face=serif size=2>Name</FONT></B></TD>
    <TD noWrap align=center width="1%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="4%"><B><FONT face=serif size=2>Age</FONT></B></TD>
    <TD noWrap align=center width="1%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="8%"><B><FONT face=serif size=2>Director Since</FONT></B></TD>
    <TD noWrap align=center width="1%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="8%"><B><FONT face=serif size=2>Term Expiring</FONT></B></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="76%" bgColor=#c0c0c0><B><FONT face=serif size=2>Nominees for Election as Class III Directors:</FONT></B></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="4%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="8%" bgColor=#c0c0c0>&nbsp;</TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="8%" bgColor=#c0c0c0>&nbsp;</TD></TR>
  <TR>
    <TD width="99%" colSpan=7>&nbsp;</TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="76%" bgColor=#c0c0c0><FONT face=serif size=2>Ziv Shoshani <SUP>(1)</SUP></FONT></TD>
    <TD noWrap align=center width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=center width="4%" bgColor=#c0c0c0><FONT face=serif size=2>42</FONT></TD>
    <TD noWrap align=center width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=center width="8%" bgColor=#c0c0c0><FONT face=serif size=2>2001</FONT></TD>
    <TD noWrap align=center width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=center width="8%" bgColor=#c0c0c0><FONT face=serif size=2>2012</FONT></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="76%"><FONT face=serif size=2>Thomas C.
      Wertheimer</FONT></TD>
    <TD noWrap align=center width="1%"></TD>
    <TD noWrap align=center width="4%"><FONT face=serif size=2>68</FONT></TD>
    <TD noWrap align=center width="1%"></TD>
    <TD noWrap align=center width="8%"><FONT face=serif size=2>2004</FONT></TD>
    <TD noWrap align=center width="1%"></TD>
    <TD noWrap align=center width="8%"><FONT face=serif size=2>2012</FONT></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="76%" bgColor=#c0c0c0><FONT face=serif size=2>Marc Zandman <SUP>(1)(3)</SUP></FONT></TD>
    <TD noWrap align=center width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=center width="4%" bgColor=#c0c0c0><FONT face=serif size=2>47</FONT></TD>
    <TD noWrap align=center width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=center width="8%" bgColor=#c0c0c0><FONT face=serif size=2>2001</FONT></TD>
    <TD noWrap align=center width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=center width="8%" bgColor=#c0c0c0><FONT face=serif size=2>2012</FONT></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="76%"><FONT face=serif size=2>Ruta Zandman
      <SUP>(1)</SUP></FONT></TD>
    <TD noWrap align=center width="1%"></TD>
    <TD noWrap align=center width="4%"><FONT face=serif size=2>71</FONT></TD>
    <TD noWrap align=center width="1%"></TD>
    <TD noWrap align=center width="8%"><FONT face=serif size=2>2001</FONT></TD>
    <TD noWrap align=center width="1%"></TD>
    <TD noWrap align=center width="8%"><FONT face=serif size=2>2012</FONT></TD></TR>
  <TR>
    <TD width="99%" colSpan=7>&nbsp;</TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="76%" bgColor=#c0c0c0><B><FONT face=serif size=2>Class I Directors:</FONT></B></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="4%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="8%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="8%" bgColor=#c0c0c0></TD></TR>
  <TR>
    <TD width="99%" colSpan=7>&nbsp;</TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="76%" bgColor=#c0c0c0><FONT face=serif size=2>Dr. Felix Zandman <SUP>(1)(2)</SUP></FONT></TD>
    <TD noWrap align=center width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=center width="4%" bgColor=#c0c0c0><FONT face=serif size=2>80</FONT></TD>
    <TD noWrap align=center width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=center width="8%" bgColor=#c0c0c0><FONT face=serif size=2>1962</FONT></TD>
    <TD noWrap align=center width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=center width="8%" bgColor=#c0c0c0><FONT face=serif size=2>2010</FONT></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="76%"><FONT face=serif size=2>Zvi
      Grinfas</FONT></TD>
    <TD noWrap align=center width="1%"></TD>
    <TD noWrap align=center width="4%"><FONT face=serif size=2>68</FONT></TD>
    <TD noWrap align=center width="1%"></TD>
    <TD noWrap align=center width="8%"><FONT face=serif size=2>2003</FONT></TD>
    <TD noWrap align=center width="1%"></TD>
    <TD noWrap align=center width="8%"><FONT face=serif size=2>2010</FONT></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="76%" bgColor=#c0c0c0><FONT face=serif size=2>Dr. Gerald Paul</FONT></TD>
    <TD noWrap align=center width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=center width="4%" bgColor=#c0c0c0><FONT face=serif size=2>60</FONT></TD>
    <TD noWrap align=center width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=center width="8%" bgColor=#c0c0c0><FONT face=serif size=2>1993</FONT></TD>
    <TD noWrap align=center width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=center width="8%" bgColor=#c0c0c0><FONT face=serif size=2>2010</FONT></TD></TR>
  <TR>
    <TD width="99%" colSpan=7>&nbsp;</TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="76%" bgColor=#c0c0c0><B><FONT face=serif size=2>Class II Directors:</FONT></B></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="4%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="8%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="8%" bgColor=#c0c0c0></TD></TR>
  <TR>
    <TD width="99%" colSpan=7>&nbsp;</TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="76%" bgColor=#c0c0c0><FONT face=serif size=2>Eliyahu Hurvitz</FONT></TD>
    <TD noWrap align=center width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=center width="4%" bgColor=#c0c0c0><FONT face=serif size=2>76</FONT></TD>
    <TD noWrap align=center width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=center width="8%" bgColor=#c0c0c0><FONT face=serif size=2>1994</FONT></TD>
    <TD noWrap align=center width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=center width="8%" bgColor=#c0c0c0><FONT face=serif size=2>2011</FONT></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="76%"><FONT face=serif size=2>Dr. Abraham
      Ludomirski</FONT></TD>
    <TD noWrap align=center width="1%"></TD>
    <TD noWrap align=center width="4%"><FONT face=serif size=2>56</FONT></TD>
    <TD noWrap align=center width="1%"></TD>
    <TD noWrap align=center width="8%"><FONT face=serif size=2>2003</FONT></TD>
    <TD noWrap align=center width="1%"></TD>
    <TD noWrap align=center width="8%"><FONT face=serif size=2>2011</FONT></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="76%" bgColor=#c0c0c0><FONT face=serif size=2>Wayne M. Rogers</FONT></TD>
    <TD noWrap align=center width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=center width="4%" bgColor=#c0c0c0><FONT face=serif size=2>76</FONT></TD>
    <TD noWrap align=center width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=center width="8%" bgColor=#c0c0c0><FONT face=serif size=2>2006</FONT></TD>
    <TD noWrap align=center width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=center width="8%" bgColor=#c0c0c0><FONT face=serif size=2>2011</FONT></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="76%"><FONT face=serif size=2>Ronald Ruzic
      <SUP>(4)</SUP></FONT></TD>
    <TD noWrap align=center width="1%"></TD>
    <TD noWrap align=center width="4%"><FONT face=serif size=2>70</FONT></TD>
    <TD noWrap align=center width="1%"></TD>
    <TD noWrap align=center width="8%"><FONT face=serif size=2>2009</FONT></TD>
    <TD noWrap align=center width="1%"></TD>
    <TD noWrap align=center width="8%"><FONT face=serif size=2>2011</FONT></TD></TR></TABLE>____________________<BR>&nbsp;<BR>
<TABLE cellSpacing=0 cellPadding=0 border=0>

  <TR>
    <TD vAlign=top noWrap><FONT face=serif size=2>(1)</FONT></TD>
    <TD vAlign=top noWrap>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </TD>
    <TD vAlign=top align=left width="100%">
      <P align=justify><FONT face=serif size=2>Dr. Felix Zandman and Ruta
      Zandman are married. Marc Zandman is their son and Ziv Shoshani is their
      nephew.</FONT></P></TD></TR>
  <TR>
    <TD vAlign=top width="100%" colSpan=3>&nbsp;</TD></TR>
  <TR>
    <TD vAlign=top noWrap><FONT face=serif size=2>(2)</FONT></TD>
    <TD vAlign=top noWrap></TD>
    <TD vAlign=top align=left width="100%">
      <P align=justify><FONT face=serif size=2>Executive Chairman of the
      Board.</FONT></P></TD></TR>
  <TR>
    <TD vAlign=top width="100%" colSpan=3>&nbsp;</TD></TR>
  <TR>
    <TD vAlign=top noWrap><FONT face=serif size=2>(3)</FONT></TD>
    <TD vAlign=top noWrap></TD>
    <TD vAlign=top align=left width="100%">
      <P align=justify><FONT face=serif size=2>Vice Chairman of the
      Board.</FONT></P></TD></TR>
  <TR>
    <TD vAlign=top width="100%" colSpan=3>&nbsp;</TD></TR>
  <TR>
    <TD vAlign=top noWrap><FONT face=serif size=2>(4)</FONT></TD>
    <TD vAlign=top noWrap></TD>
    <TD vAlign=top align=left width="100%">
      <P align=justify><FONT face=serif size=2>Ronald Ruzic was elected to the
      Board of Directors on December 23, 2008, effective January 1,
      2009.</FONT></P></TD></TR></TABLE>
<P align=center><FONT face=serif size=2>11</FONT></P>
<HR align=center width="100%" noShade SIZE=2>
<PAGE>
<P align=justify><B><FONT face=serif size=2>Nominees for Election as Class III
Directors &#150; Terms Expiring 2012</FONT></B></P>
<P align=justify><B><I><FONT face=serif size=2>Ziv Shoshani </FONT></I></B><FONT face=serif size=2>was promoted to the position of Chief Operating Officer
effective January 1, 2007. During 2006, he was Deputy Chief Operating Officer.
Mr. Shoshani has been Executive Vice President of Vishay since 2000 with various
areas of responsibility, including Executive Vice President of Measurements
Group and Foil. Mr. Shoshani has been employed by Vishay since 1995. He is the
nephew of Dr. Felix Zandman, Vishay&#146;s Executive Chairman and Chief Technical and
Business Development Officer.</FONT></P>
<P align=justify><B><I><FONT face=serif size=2>Thomas C. Wertheimer
</FONT></I></B><FONT face=serif size=2>is an independent financial and
accounting consultant. Prior to his retirement in 2000, he was a senior audit
partner with the accounting firm of PricewaterhouseCoopers LLP and its
predecessor Coopers &amp; Lybrand LLP. In this capacity, Mr. Wertheimer was
responsible for the audits of major U.S. and international public companies and
was also a technical consulting partner in the firm&#146;s national office. From 2003
until 2007, Mr. Wertheimer was a consultant for the Public Company Accounting
Oversight Board (PCAOB). He is also a director of Fiserv, Inc., an information
management and service provider, and Xinyuan Real Estate Co., Ltd., a
residential real estate developer in China.</FONT></P>
<P align=justify><B><I><FONT face=serif size=2>Marc Zandman </FONT></I></B><FONT face=serif size=2>has been Vice Chairman of the Board since 2003, a Director of
Vishay since 2001, and President of Vishay Israel Ltd. since 1998. Mr. Zandman
was appointed Chief Administration Officer as of January 1, 2007. Mr. Zandman
was Group Vice President of Vishay Measurements Group from 2002 to 2004. Mr.
Zandman has served in various other capacities with Vishay since 1984. He is the
son of Dr. Felix Zandman, Vishay&#146;s Executive Chairman and Chief Technical and
Business Development Officer.</FONT></P>
<P align=justify><B><I><FONT face=serif size=2>Ruta Zandman </FONT></I></B><FONT face=serif size=2>has been employed by Vishay since October 1993 as a Public
Relations Associate. She is the wife of Dr. Felix Zandman, Vishay&#146;s Executive
Chairman and Chief Technical and Business Development Officer, and usually
accompanies Dr. Zandman on business trips as a representative of Vishay. Mrs.
Zandman has shared or contingent voting power over shares representing
approximately 25.3% of the total voting power of Vishay&#146;s outstanding shares of
common stock and Class B common stock.</FONT></P>
<P align=center><B><FONT face=serif size=2>The Board of Directors recommends
that you vote &#147;FOR ALL&#148; the nominees as directors.</FONT></B></P>
<P align=justify><B><FONT face=serif size=2>Class I Directors &#150; Terms Expiring
2010</FONT></B></P>
<P align=justify><B><I><FONT face=serif size=2>Dr. Felix
Zandman</FONT></I></B><FONT face=serif size=2> is a founder of Vishay, and has
been Executive Chairman of the Board since 1989 and a Director since Vishay&#146;s
inception in 1962. In addition to his position as Executive Chairman, Dr.
Zandman became Chief Technical and Business Development Officer on January 1,
2005. Dr. Zandman was Chief Executive Officer of Vishay from its inception in
1962 through December 31, 2004, when Dr. Gerald Paul was appointed Chief
Executive Officer. Dr. Zandman was President of Vishay from its inception
through March 1998.</FONT></P>
<P align=justify><B><I><FONT face=serif size=2>Zvi Grinfas </FONT></I></B><FONT face=serif size=2>has been a technology consultant to Israeli companies since
1988. Prior to that, Mr. Grinfas served in various executive positions including
CEO and Chairman of the Board of IMP, Inc., a semiconductor company.</FONT></P>
<P align=justify><B><I><FONT face=serif size=2>Dr. Gerald Paul
</FONT></I></B><FONT face=serif size=2>was appointed Chief Executive Officer
effective January 1, 2005. Dr. Paul has served as a Director of Vishay since
1993, and has been President of Vishay since March 1998. Dr. Paul also was Chief
Operating Officer from 1996 to 2006. Dr. Paul previously was an Executive Vice
President of Vishay from 1996 to 1998, and President of Vishay Electronic
Components, Europe from 1994 to 1996. Dr. Paul has been Managing Director of
Vishay Electronic GmbH, a subsidiary of Vishay, since 1991. Dr. Paul has been
employed by Vishay and a predecessor company since 1978.</FONT></P>
<P align=center><FONT face=serif size=2>12</FONT></P>
<HR align=center width="100%" noShade SIZE=2>
<PAGE>
<P align=justify><B><FONT face=serif size=2>Class II Directors &#150; Terms Expiring
2011</FONT></B></P>
<P align=justify><B><I><FONT face=serif size=2>Eliyahu
Hurvitz</FONT></I></B><FONT face=serif size=2> is Chairman of the Board of Teva
Pharmaceutical Industries Ltd., a leading generic pharmaceutical company, and
was President and Chief Executive Officer of Teva prior to stepping down from
these positions in April 2002. He serves as Chairman of the Board of The Israel
Democracy Institute (IDI), Chairman of the Board of Neuro Survival Technologies
Ltd., an Israeli molecular imaging and drug development company, Chairman of the
Board of Pontifax Management (G.P) Ltd., a venture capital firm, and Chairman of
the Board of Protalix BioTherapeutics, Inc., a biotechnology company. He was a
member of the Belfer Center for Science and International Affairs at John F.
Kennedy School of Government at Harvard University from 2002 until
2005.</FONT></P>
<P align=justify><B><I><FONT face=serif size=2>Dr. Abraham
Ludomirski</FONT></I></B><FONT face=serif size=2> is the founder and, for more
than the past five years, managing director of Vitalife Fund, a venture capital
company specializing in high-tech electronic medical devices. He is also the
Chairman of the Board of Sightline Technologies Ltd., an Israeli high technology
company specializing in miniature electronics and optical and video systems, and
serves on the board of directors of Medison, Trig Medical, Deep Breeze and
Canfite. Dr. Ludomirski earned his M.D. at the Sackler Tel-Aviv University
Medical School, specializing in OBGYN and completed his fellowship at the
University of Pennsylvania in maternal fetal medicine.</FONT></P>
<P align=justify><B><I><FONT face=serif size=2>Wayne M.
Rogers</FONT></I></B><FONT face=serif size=2> is an investor and regular stock
commentator and analyst on Fox News Channel. For more than the past five years,
Mr. Rogers has been president of Wayne M. Rogers &amp; Co., an investment
management firm.</FONT></P>
<P align=justify><B><I><FONT face=serif size=2>Ronald Ruzic </FONT></I></B><FONT face=serif size=2>became a director effective January 1, 2009. Prior to retiring
in 2003, Mr. Ruzic</FONT><B><FONT face=serif size=2> </FONT></B><FONT face=serif size=2>was Executive Vice President of BorgWarner Inc. since 1992 and Group
President of BorgWarner Automotive Inc. since 1989. Previously, he held various
executive positions with BorgWarner. After joining BorgWarner in 1968 as a
senior manufacturing engineer for its subsidiary Morse Chain, Mr. Ruzic
progressed through engineering and management positions and managed various
BorgWarner operations in Italy, Mexico, Germany and the United States. Mr. Ruzic
formerly served on the boards of directors of Guilford Mills Inc., AG K&#252;hnle
Kopp &amp; Kausch, Magneti Marelli S.p.A. and Citation Corporation.</FONT></P>
<P align=justify><FONT face=serif size=2>Under the Company&#146;s Corporate
Governance Principles, directors may not stand for election or re-election after
the age of 75, unless the Board makes an affirmative determination that, because
of the importance and value of the continued service of a director, the
retirement policy should be waived. Prior to their re-election in 2008, the
Board made such a determination with respect to Messrs. Hurvitz and Rogers. This
policy does not apply to Dr. Zandman or any person who controls more than 20% of
the voting power of the Company.</FONT></P>
<P align=center><FONT face=serif size=2>13</FONT></P>
<HR align=center width="100%" noShade SIZE=2>
<PAGE>
<P align=center><B><FONT face=serif size=2>REPORT OF THE AUDIT
COMMITTEE</FONT></B></P>
<P align=justify><FONT face=serif size=2>Management is responsible for
maintaining effective internal control over financial reporting, for assessing
the effectiveness of internal control over financial reporting, and for
preparing our consolidated financial statements. Our independent registered
public accounting firm is responsible for, among other things, performing an
independent audit of our consolidated financial statements in accordance with
standards of the Public Company Accounting Oversight Board (United States)
(&#147;PCAOB&#148;) and issuing a report thereon. Our independent registered public
accounting firm is also responsible for auditing the effectiveness of our
internal control over financial reporting in accordance with standards of the
PCAOB, and issuing a report thereon. It is the responsibility of the Audit
Committee to monitor and oversee these processes.</FONT></P>
<P align=justify><FONT face=serif size=2>In fulfilling its oversight duties, the
Audit Committee reviewed and discussed the following with management and our
independent registered public accounting firm, Ernst &amp; Young LLP: (a) the
audited financial statements for the fiscal year ended December 31, 2008; (b)
the effectiveness of our internal control over financial reporting; and (c)
discussed with the independent auditors matters required to be discussed under
Statement on Auditing Standards No. 61, </FONT><I><FONT face=serif size=2>Communications with Audit Committees </FONT></I><FONT face=serif size=2>(SAS 61), as amended and as adopted by the PCAOB in Rule 3200T. These
required communications addressed, among other topics, the independent
registered public accounting firm&#146;s responsibility under the standards of the
PCAOB; critical accounting policies and practices; judgments and accounting
estimates; alternative accounting treatments; any significant audit adjustments;
any disagreements or difficulties encountered in performing the audit; and other
material communications between the independent registered public accounting
firm and management. The Audit Committee received from the independent auditors
written disclosures regarding the auditor&#146;s independence required by PCAOB
Ethics and Independence Rule 3526, </FONT><I><FONT face=serif size=2>Communication with Audit Committees Concerning
Independence</FONT></I><FONT face=serif size=2>, and has discussed with the
independent auditors, the independent auditor&#146;s independence. The Audit
Committee also considered the compatibility of non-audit services provided to
Vishay by Ernst &amp; Young LLP, and the fees and costs billed or to be billed
for these services, with the maintenance of the independent registered public
accounting firm&#146;s independence. The Committee has concluded that the provision
of the non-audit services by Ernst &amp; Young LLP in 2008 did not impair the
independent registered public accounting firm&#146;s independence. (The fees and
costs billed by the independent registered public accounting firm for audit and
non-audit services in 2007 and 2008 are shown under Proposal Two.) Under the
Audit and Non-Audit Services Pre-Approval Policy that was adopted by the Audit
Committee in May 2003, the Audit Committee must pre-approve all audit and
non-audit services provided to Vishay by the independent registered public
accounting firm. The policy sets forth the procedures and conditions for
pre-approval of these services. All of the audit and non-audit services provided
by the independent registered public accounting firm since adoption of the Audit
and Non-Audit Services Pre-Approval Policy were pre-approved by the Committee in
accordance with such policy.</FONT></P>
<P align=justify><FONT face=serif size=2>Based upon the above review and
discussions with management and the independent registered public accounting
firm, the Audit Committee recommended to the Board of Directors that our audited
financial statements be included in our Annual Report on Form 10-K for the
fiscal year ended December 31, 2008 for filing with the Securities and Exchange
Commission. The Audit Committee has also appointed Ernst &amp; Young LLP as our
independent registered public accounting firm for fiscal year 2009, but the
Committee has determined in accordance with our historical practices to submit
the appointment for ratification by stockholders (See Proposal Two).</FONT></P>
<P align=justify><FONT face=serif size=2>Respectfully submitted,</FONT></P>
<P align=justify><FONT face=serif size=2>The Audit Committee of the Board of
Directors</FONT></P>
<P align=justify><FONT face=serif size=2>Thomas C. Wertheimer, Chairman<BR>Zvi
Grinfas<BR>Wayne M. Rogers</FONT></P>
<P align=center><FONT face=serif size=2>14</FONT></P>
<HR align=center width="100%" noShade SIZE=2>
<PAGE>
<P align=center><B><FONT face=serif size=2>PROPOSAL TWO</FONT></B></P>
<P align=center><B><FONT face=serif size=2>RATIFICATION OF APPOINTMENT OF
INDEPENDENT<BR>REGISTERED PUBLIC ACCOUNTING FIRM</FONT></B></P>
<P align=justify><FONT face=serif size=2>The Audit Committee of the Board of
Directors is responsible for the selection of our independent registered public
accounting firm. The Committee has determined to reappoint the public accounting
firm of Ernst &amp; Young LLP as independent registered public accounting firm
to audit our financial statements for the fiscal year ending December 31, 2009,
as well as to audit the effectiveness of our internal control over financial
reporting. Ernst &amp; Young LLP has served as our independent registered public
accounting firm since 1968. Although stockholder approval for the appointment of
the independent registered public accounting firm is not required, we are
continuing our practice of submitting the selection of the independent
registered public accounting firm to stockholders for their
ratification.</FONT></P>
<P align=justify><FONT face=serif size=2>Representatives of the firm of Ernst
&amp; Young LLP are expected to be present at the annual meeting and will have
an opportunity to make a statement if they so desire and will be available to
respond to appropriate questions from stockholders.</FONT></P>
<P align=justify><FONT face=serif size=2>Under the Audit and Non-Audit Services
Pre-Approval Policy that was adopted by the Audit Committee in May 2003, the
Audit Committee must pre-approve all audit and non-audit services provided to
Vishay by the independent registered public accounting firm. The policy sets
forth the procedures and conditions for pre-approval of these services. The
Audit Committee has pre-approved generally the engagement of the independent
registered public accounting firm for services relating to our filings with the
SEC (including comfort letters and consents for securities offerings);
acquisition or disposition related diligence activities; internal control review
and compliance; interpretation and compliance with accounting and
accounting-related disclosure rules and standards; certain attest services;
domestic and international tax planning and compliance; and risk
management.</FONT></P>
<P align=justify><FONT face=serif size=2>The following table sets forth the
aggregate fees billed by Ernst &amp; Young LLP for audit and non-audit services
rendered to Vishay in 2008 and 2007. These fees are categorized as audit fees,
audit-related fees, tax fees, and all other fees. The nature of the services
provided in each category is described following the table.</FONT></P>
<TABLE cellSpacing=0 cellPadding=0 width="95%" border=0>

  <TR vAlign=bottom>
    <TD noWrap align=left width="87%"></TD>
    <TD noWrap align=left width="1%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=right width="5%" colSpan=2><B><FONT face=serif size=2>2008</FONT></B> </TD>
    <TD noWrap align=left width="1%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=right width="5%" colSpan=2><B><FONT face=serif size=2>2007</FONT></B> </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="87%" bgColor=#c0c0c0><FONT face=serif size=2>Audit fees</FONT>&nbsp; </TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0><FONT face=serif size=2>$</FONT> </TD>
    <TD noWrap align=right width="4%" bgColor=#c0c0c0><FONT face=serif size=2>6,600,000</FONT> </TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0><FONT face=serif size=2>$</FONT> </TD>
    <TD noWrap align=right width="4%" bgColor=#c0c0c0><FONT face=serif size=2>6,500,000</FONT> </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="87%"><FONT face=serif size=2>Audit-related
      fees</FONT> </TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=right width="4%"><FONT face=serif size=2>100,000</FONT>
    </TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=left width="1%">&nbsp;</TD>
    <TD noWrap align=right width="4%"><FONT face=serif size=2>100,000</FONT>
    </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="87%" bgColor=#c0c0c0><FONT face=serif size=2>Tax fees</FONT> </TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0>&nbsp;</TD>
    <TD noWrap align=right width="4%" bgColor=#c0c0c0><FONT face=serif size=2>1,500,000</FONT> </TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=right width="4%" bgColor=#c0c0c0><FONT face=serif size=2>900,000</FONT> </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="87%"><FONT face=serif size=2>All other
      fees</FONT> </TD>
    <TD noWrap align=left width="1%"></TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="1%">&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=right width="4%"><FONT face=serif size=2>100,000</FONT> </TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="1%">&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="1%">&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=right width="4%"><FONT face=serif size=2>200,000</FONT> </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="87%" bgColor=#c0c0c0><B><FONT face=serif size=2>Total fees</FONT></B> </TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD style="BORDER-BOTTOM: #000000 2pt double" noWrap align=left width="1%" bgColor=#c0c0c0><FONT face=serif size=2>$</FONT> </TD>
    <TD style="BORDER-BOTTOM: #000000 2pt double" noWrap align=right width="4%" bgColor=#c0c0c0><FONT face=serif size=2>8,300,000</FONT> </TD>
    <TD style="BORDER-BOTTOM: #000000 2pt double" noWrap align=left width="1%" bgColor=#c0c0c0>&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 2pt double" noWrap align=left width="1%" bgColor=#c0c0c0><FONT face=serif size=2>$</FONT> </TD>
    <TD style="BORDER-BOTTOM: #000000 2pt double" noWrap align=right width="4%" bgColor=#c0c0c0><FONT face=serif size=2>7,700,000</FONT>
</TD></TR></TABLE><BR>
<P align=justify><I><FONT face=serif size=2>Audit fees</FONT></I><FONT face=serif size=2>. These fees generally consist of professional services
rendered for the audits of the consolidated financial statements of Vishay and
its internal control over financial reporting, quarterly reviews, subsidiary or
equity investment audits, issuance of comfort letters, consents, income tax
provision procedures, and assistance with and review of documents filed with the
SEC.</FONT></P>
<P align=justify><I><FONT face=serif size=2>Audit-related fees</FONT></I><FONT face=serif size=2>. These fees generally consist of assurance and other services
related to the performance of the audit or review of Vishay&#146;s financial
statements or that are traditionally performed by the independent registered
public accounting firm, issuance of consents and letters to underwriters, due
diligence related to acquisitions, internal control reviews, attest services
that are not required by statute or regulation, consultations concerning
financial accounting and reporting standards, and financial audits of employee
benefit plans.</FONT></P>
<P align=center><FONT face=serif size=2>15</FONT></P>
<HR align=center width="100%" noShade SIZE=2>
<PAGE>
<P align=justify><I><FONT face=serif size=2>Tax fees</FONT></I><FONT face=serif size=2>. These fees generally relate primarily to tax compliance, including
review and preparation of corporate and expatriate tax returns, assistance with
tax audits, review of the tax treatment for certain expenses, extra-territorial
tax analysis, and tax due diligence relating to acquisitions. They also include
fees for state and local tax planning and consultations with respect to various
domestic and international tax matters.</FONT></P>
<P align=justify><I><FONT face=serif size=2>All other fees</FONT></I><FONT face=serif size=2>. These fees generally consist of reviews for compliance with
various government regulations, risk management and treasury reviews and
assessments and audits of various contractual arrangements.</FONT></P>
<P align=justify><FONT face=serif size=2>Vishay did not make use in fiscal 2008
of the rule that waives pre-approval requirements for non-audit services in
certain cases if the fees for these services constitute less than 5% of the
total fees paid to the independent registered public accounting firm during the
year.</FONT></P>
<P align=center><B><FONT face=serif size=2>The Audit Committee and the Board of
Directors recommend that you vote &#147;FOR&#148;<BR>the ratification of the appointment
of Ernst &amp; Young LLP as our independent registered<BR>public accounting firm
for the fiscal year ending December 31, 2009.</FONT></B></P>
<P align=center><FONT face=serif size=2>16</FONT></P>
<HR align=center width="100%" noShade SIZE=2>
<PAGE>
<P align=center><B><FONT face=serif size=2>SECURITY OWNERSHIP OF
CERTAIN<BR>BENEFICIAL OWNERS AND MANAGEMENT</FONT></B></P>
<P align=justify><FONT face=serif size=2>On March 30, 2009, Vishay had
outstanding 172,205,536 shares of common stock, each of which entitles the
holder to one vote, and 14,352,888 shares of Class B common stock, each of which
entitles the holder to 10 votes. Voting is not cumulative.</FONT></P>
<P align=justify><FONT face=serif size=2>The following table shows the number of
shares of Vishay common stock and Class B common stock beneficially owned by (a)
each director and director nominee, (b) each &#147;Named Executive Officer&#148;
identified under &#147;Executive Compensation,&#148; (c) the directors and executive
officers of Vishay as a group and (d) any person owning more than 5% of Vishay
common stock or the Class B common stock.</FONT></P>
<TABLE style="FONT-SIZE: 12pt; LINE-HEIGHT: 14pt; BORDER-COLLAPSE: collapse" cellSpacing=0 cellPadding=0 width="100%" border=0>

  <TR vAlign=bottom>
    <TD noWrap align=left width="59%"></TD>
    <TD noWrap align=center width="1%"></TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="24%" colSpan=8><B><FONT face=serif size=1>Common Stock</FONT></B></TD>
    <TD noWrap align=center width="1%"></TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="10%" colSpan=5><B><FONT face=serif size=1>Class B Common Stock</FONT></B></TD>
    <TD noWrap align=center width="1%"></TD>
    <TD noWrap align=center width="3%"></TD>
    <TD noWrap align=center width="1%"></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="59%"></TD>
    <TD noWrap align=center width="1%"></TD>
    <TD noWrap align=center width="4%"></TD>
    <TD noWrap align=center width="1%"></TD>
    <TD noWrap align=center width="7%"></TD>
    <TD noWrap align=center width="1%"></TD>
    <TD noWrap align=center width="6%"><B><FONT face=serif size=1>Right to
      Acquire</FONT></B></TD>
    <TD noWrap align=center width="1%"></TD>
    <TD noWrap align=center width="3%"></TD>
    <TD noWrap align=center width="1%"></TD>
    <TD noWrap align=center width="1%"></TD>
    <TD noWrap align=center width="4%"></TD>
    <TD noWrap align=center width="1%"></TD>
    <TD noWrap align=center width="1%"></TD>
    <TD noWrap align=center width="3%"></TD>
    <TD noWrap align=center width="1%"></TD>
    <TD noWrap align=center width="1%"></TD>
    <TD noWrap align=center width="3%"></TD>
    <TD noWrap align=center width="1%"></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="59%"></TD>
    <TD noWrap align=center width="1%"></TD>
    <TD noWrap align=center width="4%"></TD>
    <TD noWrap align=center width="1%"></TD>
    <TD noWrap align=center width="7%"><B><FONT face=serif size=1>Restricted
      Stock</FONT></B></TD>
    <TD noWrap align=center width="1%"></TD>
    <TD noWrap align=center width="6%"><B><FONT face=serif size=1>Ownership</FONT></B></TD>
    <TD noWrap align=center width="1%"></TD>
    <TD noWrap align=center width="3%"></TD>
    <TD noWrap align=center width="1%"></TD>
    <TD noWrap align=center width="1%"></TD>
    <TD noWrap align=center width="4%"></TD>
    <TD noWrap align=center width="1%"></TD>
    <TD noWrap align=center width="1%"></TD>
    <TD noWrap align=center width="3%"></TD>
    <TD noWrap align=center width="1%"></TD>
    <TD noWrap align=center width="1%"></TD>
    <TD noWrap align=center width="3%"></TD>
    <TD noWrap align=center width="1%"></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="59%"></TD>
    <TD noWrap align=center width="1%"></TD>
    <TD noWrap align=center width="4%"></TD>
    <TD noWrap align=center width="1%"></TD>
    <TD noWrap align=center width="7%"><B><FONT face=serif size=1>Units
      Scheduled</FONT></B></TD>
    <TD noWrap align=center width="1%"></TD>
    <TD noWrap align=center width="6%"><B><FONT face=serif size=1>Under
      Options</FONT></B></TD>
    <TD noWrap align=center width="1%"></TD>
    <TD noWrap align=center width="4%" colSpan=2><B><FONT face=serif size=1>Percent</FONT></B></TD>
    <TD noWrap align=center width="1%"></TD>
    <TD noWrap align=center width="4%"></TD>
    <TD noWrap align=center width="1%"></TD>
    <TD noWrap align=center width="1%"></TD>
    <TD noWrap align=center width="3%"></TD>
    <TD noWrap align=center width="1%"></TD>
    <TD noWrap align=center width="1%"></TD>
    <TD noWrap align=center width="3%"></TD>
    <TD noWrap align=center width="1%"></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="59%"></TD>
    <TD noWrap align=center width="1%"></TD>
    <TD noWrap align=center width="4%"><B><FONT face=serif size=1>Shares
      of</FONT></B></TD>
    <TD noWrap align=center width="1%"></TD>
    <TD noWrap align=center width="7%"><B><FONT face=serif size=1>to Vest
      within</FONT></B></TD>
    <TD noWrap align=center width="1%"></TD>
    <TD noWrap align=center width="6%"><B><FONT face=serif size=1>Exercisable</FONT></B></TD>
    <TD noWrap align=center width="1%"></TD>
    <TD noWrap align=center width="4%" colSpan=2><B><FONT face=serif size=1>of</FONT></B></TD>
    <TD noWrap align=center width="1%"></TD>
    <TD noWrap align=center width="5%" colSpan=2><B><FONT face=serif size=1>Shares of</FONT></B></TD>
    <TD noWrap align=center width="1%"></TD>
    <TD noWrap align=center width="4%" colSpan=2><B><FONT face=serif size=1>Percent</FONT></B></TD>
    <TD noWrap align=center width="1%"></TD>
    <TD noWrap align=center width="4%" colSpan=2><B><FONT face=serif size=1>Voting</FONT></B></TD></TR>
  <TR vAlign=bottom>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="59%"><B><FONT face=serif size=1>Name</FONT></B></TD>
    <TD noWrap align=center width="1%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="4%"><B><FONT face=serif size=1>Stock</FONT></B></TD>
    <TD noWrap align=center width="1%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="7%"><B><FONT face=serif size=1>60 days</FONT></B></TD>
    <TD noWrap align=center width="1%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="6%"><B><FONT face=serif size=1>within 60 days</FONT></B></TD>
    <TD noWrap align=center width="1%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="4%" colSpan=2><B><FONT face=serif size=1>Class</FONT></B></TD>
    <TD noWrap align=center width="1%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="5%" colSpan=2><B><FONT face=serif size=1>Stock</FONT></B></TD>
    <TD noWrap align=center width="1%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="4%" colSpan=2><B><FONT face=serif size=1>of Class</FONT></B></TD>
    <TD noWrap align=center width="1%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="4%" colSpan=2><B><FONT face=serif size=1>Power</FONT></B></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="59%" bgColor=#c0c0c0><B><I><FONT face=serif size=1>Directors and Executive Officers</FONT></I></B></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="4%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="7%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="6%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="3%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="4%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="3%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="3%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="59%"><FONT face=serif size=1>Dr. Felix
      Zandman</FONT></TD>
    <TD noWrap align=right width="1%"></TD>
    <TD noWrap align=right width="4%"><FONT face=serif size=1>14,153</FONT></TD>
    <TD noWrap align=right width="1%"></TD>
    <TD noWrap align=right width="7%"><FONT face=serif size=1>14,000</FONT></TD>
    <TD noWrap align=right width="1%"></TD>
    <TD noWrap align=right width="6%"><FONT face=serif size=1>102,500</FONT></TD>
    <TD noWrap align=right width="1%"></TD>
    <TD noWrap align=right width="3%"><FONT face=serif size=1>*</FONT></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=right width="1%"></TD>
    <TD noWrap align=right width="4%"><FONT face=serif size=1>14,261,316</FONT></TD>
    <TD noWrap align=left width="1%"><SUP><FONT face=serif size=1><SUP>(1)</SUP></FONT></SUP></TD>
    <TD noWrap align=right width="1%"></TD>
    <TD noWrap align=right width="3%"><FONT face=serif size=1>99.4</FONT></TD>
    <TD noWrap align=left width="1%"><FONT face=serif size=1>%</FONT></TD>
    <TD noWrap align=right width="1%"></TD>
    <TD noWrap align=right width="3%"><FONT face=serif size=1>45.2</FONT></TD>
    <TD noWrap align=left width="1%"><FONT face=serif size=1>%</FONT></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="59%" bgColor=#c0c0c0><FONT face=serif size=1>Zvi Grinfas</FONT></TD>
    <TD noWrap align=right width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=right width="4%" bgColor=#c0c0c0><FONT face=serif size=1>9,000</FONT></TD>
    <TD noWrap align=right width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=right width="7%" bgColor=#c0c0c0><FONT face=serif size=1>8,000</FONT></TD>
    <TD noWrap align=right width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=right width="6%" bgColor=#c0c0c0><FONT face=serif size=1>&#151;</FONT></TD>
    <TD noWrap align=right width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=right width="3%" bgColor=#c0c0c0><FONT face=serif size=1>*</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=right width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=right width="4%" bgColor=#c0c0c0><FONT face=serif size=1>&#151;</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=right width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=right width="3%" bgColor=#c0c0c0><FONT face=serif size=1>&#151;</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=right width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=right width="3%" bgColor=#c0c0c0><FONT face=serif size=1>*</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="59%"><FONT face=serif size=1>Richard N.
      Grubb</FONT></TD>
    <TD noWrap align=right width="1%"></TD>
    <TD noWrap align=right width="4%"><FONT face=serif size=1>95,060</FONT></TD>
    <TD noWrap align=right width="1%"></TD>
    <TD noWrap align=right width="7%"><FONT face=serif size=1>&#151;</FONT></TD>
    <TD noWrap align=right width="1%"></TD>
    <TD noWrap align=right width="6%"><FONT face=serif size=1>&#151;</FONT></TD>
    <TD noWrap align=right width="1%"></TD>
    <TD noWrap align=right width="3%"><FONT face=serif size=1>*</FONT></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=right width="1%"></TD>
    <TD noWrap align=right width="4%"><FONT face=serif size=1>&#151;</FONT></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=right width="1%"></TD>
    <TD noWrap align=right width="3%"><FONT face=serif size=1>&#151;</FONT></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=right width="1%"></TD>
    <TD noWrap align=right width="3%"><FONT face=serif size=1>*</FONT></TD>
    <TD noWrap align=left width="1%"></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="59%" bgColor=#c0c0c0><FONT face=serif size=1>Eliyahu Hurvitz</FONT></TD>
    <TD noWrap align=right width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=right width="4%" bgColor=#c0c0c0><FONT face=serif size=1>19,996</FONT></TD>
    <TD noWrap align=right width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=right width="7%" bgColor=#c0c0c0><FONT face=serif size=1>8,000</FONT></TD>
    <TD noWrap align=right width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=right width="6%" bgColor=#c0c0c0><FONT face=serif size=1>&#151;</FONT></TD>
    <TD noWrap align=right width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=right width="3%" bgColor=#c0c0c0><FONT face=serif size=1>*</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=right width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=right width="4%" bgColor=#c0c0c0><FONT face=serif size=1>&#151;</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=right width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=right width="3%" bgColor=#c0c0c0><FONT face=serif size=1>&#151;</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=right width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=right width="3%" bgColor=#c0c0c0><FONT face=serif size=1>*</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="59%"><FONT face=serif size=1>Dr. Abraham
      Ludomirski</FONT></TD>
    <TD noWrap align=right width="1%"></TD>
    <TD noWrap align=right width="4%"><FONT face=serif size=1>9,000</FONT></TD>
    <TD noWrap align=right width="1%"></TD>
    <TD noWrap align=right width="7%"><FONT face=serif size=1>8,000</FONT></TD>
    <TD noWrap align=right width="1%"></TD>
    <TD noWrap align=right width="6%"><FONT face=serif size=1>&#151;</FONT></TD>
    <TD noWrap align=right width="1%"></TD>
    <TD noWrap align=right width="3%"><FONT face=serif size=1>*</FONT></TD>
    <TD noWrap align=left width="1%">&nbsp;</TD>
    <TD noWrap align=right width="1%"></TD>
    <TD noWrap align=right width="4%"><FONT face=serif size=1>&#151;</FONT></TD>
    <TD noWrap align=left width="1%">&nbsp;</TD>
    <TD noWrap align=right width="1%"></TD>
    <TD noWrap align=right width="3%"><FONT face=serif size=1>&#151;</FONT></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=right width="1%"></TD>
    <TD noWrap align=right width="3%"><FONT face=serif size=1>*</FONT></TD>
    <TD noWrap align=left width="1%"></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="59%" bgColor=#c0c0c0><FONT face=serif size=1>Dr. Gerald Paul</FONT></TD>
    <TD noWrap align=right width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=right width="4%" bgColor=#c0c0c0><FONT face=serif size=1>71,337</FONT></TD>
    <TD noWrap align=right width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=right width="7%" bgColor=#c0c0c0><FONT face=serif size=1>9,333</FONT></TD>
    <TD noWrap align=right width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=right width="6%" bgColor=#c0c0c0><FONT face=serif size=1>68,334</FONT></TD>
    <TD noWrap align=right width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=right width="3%" bgColor=#c0c0c0><FONT face=serif size=1>*</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=right width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=right width="4%" bgColor=#c0c0c0><FONT face=serif size=1>&#151;</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=right width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=right width="3%" bgColor=#c0c0c0><FONT face=serif size=1>&#151;</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=right width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=right width="3%" bgColor=#c0c0c0><FONT face=serif size=1>*</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="59%"><FONT face=serif size=1>Wayne M.
      Rogers</FONT></TD>
    <TD noWrap align=right width="1%"></TD>
    <TD noWrap align=right width="4%"><FONT face=serif size=1>27,342</FONT></TD>
    <TD noWrap align=right width="1%"></TD>
    <TD noWrap align=right width="7%"><FONT face=serif size=1>8,000</FONT></TD>
    <TD noWrap align=right width="1%"></TD>
    <TD noWrap align=right width="6%"><FONT face=serif size=1>&#151;</FONT></TD>
    <TD noWrap align=right width="1%"></TD>
    <TD noWrap align=right width="3%"><FONT face=serif size=1>*</FONT></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=right width="1%"></TD>
    <TD noWrap align=right width="4%"><FONT face=serif size=1>&#151;</FONT></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=right width="1%"></TD>
    <TD noWrap align=right width="3%"><FONT face=serif size=1>&#151;</FONT></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=right width="1%"></TD>
    <TD noWrap align=right width="3%"><FONT face=serif size=1>*</FONT></TD>
    <TD noWrap align=left width="1%"></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="59%" bgColor=#c0c0c0><FONT face=serif size=1>Ronald Ruzic</FONT></TD>
    <TD noWrap align=right width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=right width="4%" bgColor=#c0c0c0><FONT face=serif size=1>&#151;</FONT></TD>
    <TD noWrap align=right width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=right width="7%" bgColor=#c0c0c0><FONT face=serif size=1>&#151;</FONT></TD>
    <TD noWrap align=right width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=right width="6%" bgColor=#c0c0c0><FONT face=serif size=1>&#151;</FONT></TD>
    <TD noWrap align=right width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=right width="3%" bgColor=#c0c0c0><FONT face=serif size=1>*</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=right width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=right width="4%" bgColor=#c0c0c0><FONT face=serif size=1>&#151;</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=right width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=right width="3%" bgColor=#c0c0c0><FONT face=serif size=1>&#151;</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=right width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=right width="3%" bgColor=#c0c0c0><FONT face=serif size=1>*</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="59%"><FONT face=serif size=1>Ziv
      Shoshani</FONT></TD>
    <TD noWrap align=right width="1%"></TD>
    <TD noWrap align=right width="4%"><FONT face=serif size=1>82,376</FONT></TD>
    <TD noWrap align=right width="1%"></TD>
    <TD noWrap align=right width="7%"><FONT face=serif size=1>&#151;</FONT></TD>
    <TD noWrap align=right width="1%"></TD>
    <TD noWrap align=right width="6%"><FONT face=serif size=1>38,332</FONT></TD>
    <TD noWrap align=right width="1%"></TD>
    <TD noWrap align=right width="3%"><FONT face=serif size=1>*</FONT></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=right width="1%"></TD>
    <TD noWrap align=right width="4%"><FONT face=serif size=1>&#151;</FONT></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=right width="1%"></TD>
    <TD noWrap align=right width="3%"><FONT face=serif size=1>&#151;</FONT></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=right width="1%"></TD>
    <TD noWrap align=right width="3%"><FONT face=serif size=1>*</FONT></TD>
    <TD noWrap align=left width="1%"></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="59%" bgColor=#c0c0c0><FONT face=serif size=1>Thomas C. Wertheimer</FONT></TD>
    <TD noWrap align=right width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=right width="4%" bgColor=#c0c0c0><FONT face=serif size=1>9,400</FONT></TD>
    <TD noWrap align=right width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=right width="7%" bgColor=#c0c0c0><FONT face=serif size=1>8,000</FONT></TD>
    <TD noWrap align=right width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=right width="6%" bgColor=#c0c0c0><FONT face=serif size=1>&#151;</FONT></TD>
    <TD noWrap align=right width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=right width="3%" bgColor=#c0c0c0><FONT face=serif size=1>*</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=right width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=right width="4%" bgColor=#c0c0c0><FONT face=serif size=1>&#151;</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=right width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=right width="3%" bgColor=#c0c0c0><FONT face=serif size=1>&#151;</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=right width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=right width="3%" bgColor=#c0c0c0><FONT face=serif size=1>*</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="59%"><FONT face=serif size=1>Lior
      Yahalomi</FONT></TD>
    <TD noWrap align=right width="1%"></TD>
    <TD noWrap align=right width="4%"><FONT face=serif size=1>&#151;</FONT></TD>
    <TD noWrap align=right width="1%"></TD>
    <TD noWrap align=right width="7%"><FONT face=serif size=1>&#151;</FONT></TD>
    <TD noWrap align=right width="1%"></TD>
    <TD noWrap align=right width="6%"><FONT face=serif size=1>10,835</FONT></TD>
    <TD noWrap align=right width="1%"></TD>
    <TD noWrap align=right width="3%"><FONT face=serif size=1>*</FONT></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=right width="1%"></TD>
    <TD noWrap align=right width="4%"><FONT face=serif size=1>&#151;</FONT></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=right width="1%"></TD>
    <TD noWrap align=right width="3%"><FONT face=serif size=1>&#151;</FONT></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=right width="1%"></TD>
    <TD noWrap align=right width="3%"><FONT face=serif size=1>*</FONT></TD>
    <TD noWrap align=left width="1%"></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="59%" bgColor=#c0c0c0><FONT face=serif size=1>Marc Zandman</FONT></TD>
    <TD noWrap align=right width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=right width="4%" bgColor=#c0c0c0><FONT face=serif size=1>4,278</FONT></TD>
    <TD noWrap align=right width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=right width="7%" bgColor=#c0c0c0><FONT face=serif size=1>&#151;</FONT></TD>
    <TD noWrap align=right width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=right width="6%" bgColor=#c0c0c0><FONT face=serif size=1>38,332</FONT></TD>
    <TD noWrap align=right width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=right width="3%" bgColor=#c0c0c0><FONT face=serif size=1>*</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=right width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=right width="4%" bgColor=#c0c0c0><FONT face=serif size=1>1,500</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0><SUP><FONT face=serif size=1><SUP>(2)</SUP></FONT></SUP></TD>
    <TD noWrap align=right width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=right width="3%" bgColor=#c0c0c0><FONT face=serif size=1>*</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=right width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=right width="3%" bgColor=#c0c0c0><FONT face=serif size=1>*</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="59%"><FONT face=serif size=1>Ruta
      Zandman</FONT></TD>
    <TD noWrap align=right width="1%"></TD>
    <TD noWrap align=right width="4%"><FONT face=serif size=1>1,159</FONT></TD>
    <TD noWrap align=right width="1%"></TD>
    <TD noWrap align=right width="7%"><FONT face=serif size=1>&#151;</FONT></TD>
    <TD noWrap align=right width="1%"></TD>
    <TD noWrap align=right width="6%"><FONT face=serif size=1>&#151;</FONT></TD>
    <TD noWrap align=right width="1%"></TD>
    <TD noWrap align=right width="3%"><FONT face=serif size=1>*</FONT></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=right width="1%"></TD>
    <TD noWrap align=right width="4%"><FONT face=serif size=1>8,000,100</FONT></TD>
    <TD noWrap align=left width="1%"><SUP><FONT face=serif size=1><SUP>(3)</SUP></FONT></SUP></TD>
    <TD noWrap align=right width="1%"></TD>
    <TD noWrap align=right width="3%"><FONT face=serif size=1>55.7</FONT></TD>
    <TD noWrap align=left width="1%"><FONT face=serif size=1>%</FONT></TD>
    <TD noWrap align=right width="1%"></TD>
    <TD noWrap align=right width="3%"><FONT face=serif size=1>25.3</FONT></TD>
    <TD noWrap align=left width="1%"><FONT face=serif size=1>%</FONT></TD></TR>
  <TR>
    <TD noWrap width="100%" colSpan=19>&nbsp;</TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="59%" bgColor=#c0c0c0><B><I><FONT face=serif size=1>All Directors and Executive</FONT></I></B></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="4%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="7%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="6%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="3%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="4%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="3%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="3%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="59%" bgColor=#c0c0c0><FONT face=serif size=1><STRONG><EM>Officers as a group (12 Persons)
      </EM></STRONG><SUP>(4)</SUP></FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="4%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="7%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="6%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="3%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="4%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="3%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="3%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="59%"><FONT face=serif size=1>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; c/o Vishay Intertechnology,
      Inc.</FONT></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=left width="4%"></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=left width="7%"></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=left width="6%"></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=left width="3%"></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=left width="4%"></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=left width="3%"></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=left width="3%"></TD>
    <TD noWrap align=left width="1%"></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="59%"><FONT size=1>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <FONT face=serif>63 Lancaster
      Avenue</FONT></FONT></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=left width="4%"></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=left width="7%"></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=left width="6%"></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=left width="3%"></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=left width="4%"></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=left width="3%"></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=left width="3%"></TD>
    <TD noWrap align=left width="1%"></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="59%"><FONT size=1>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <FONT face=serif>Malvern, PA
      19355</FONT></FONT></TD>
    <TD noWrap align=right width="1%"></TD>
    <TD noWrap align=right width="4%"><B><FONT face=serif size=1>248,041</FONT></B></TD>
    <TD noWrap align=right width="1%"></TD>
    <TD noWrap align=right width="7%"><B><FONT face=serif size=1>63,333</FONT></B></TD>
    <TD noWrap align=right width="1%"></TD>
    <TD noWrap align=right width="6%"><B><FONT face=serif size=1>258,333</FONT></B></TD>
    <TD noWrap align=right width="1%"></TD>
    <TD noWrap align=right width="3%"><FONT face=serif size=1>*</FONT></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=right width="1%"></TD>
    <TD noWrap align=right width="4%"><B><FONT face=serif size=1>14,262,816</FONT></B></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=right width="1%"></TD>
    <TD noWrap align=right width="3%"><B><FONT face=serif size=1>99.4</FONT></B></TD>
    <TD noWrap align=left width="1%"><B><FONT face=serif size=1>%</FONT></B></TD>
    <TD noWrap align=right width="1%"></TD>
    <TD noWrap align=right width="3%"><B><FONT face=serif size=1>45.4</FONT></B></TD>
    <TD noWrap align=left width="1%"><B><FONT face=serif size=1>%</FONT></B></TD></TR>
  <TR>
    <TD noWrap width="100%" colSpan=19>&nbsp;</TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="59%" bgColor=#c0c0c0><FONT face=serif size=1>LSV Asset Management. <SUP>(5)</SUP></FONT></TD>
    <TD noWrap align=right width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=right width="4%" bgColor=#c0c0c0><FONT face=serif size=1>9,389,266</FONT></TD>
    <TD noWrap align=right width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=right width="7%" bgColor=#c0c0c0><FONT face=serif size=1>&#151;</FONT></TD>
    <TD noWrap align=right width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=right width="6%" bgColor=#c0c0c0><FONT face=serif size=1>&#151;</FONT></TD>
    <TD noWrap align=right width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=right width="3%" bgColor=#c0c0c0><FONT face=serif size=1>5.5</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0><FONT face=serif size=1>%</FONT></TD>
    <TD noWrap align=right width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=right width="4%" bgColor=#c0c0c0><FONT face=serif size=1>&#151;</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=right width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=right width="3%" bgColor=#c0c0c0><FONT face=serif size=1>&#151;</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=right width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=right width="3%" bgColor=#c0c0c0><FONT face=serif size=1>&#151;</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="59%" bgColor=#c0c0c0><FONT face=serif size=1>1 N. Wacker Drive, Suite 4000</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="4%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="7%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="6%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="3%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="4%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="3%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="3%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="59%" bgColor=#c0c0c0><FONT face=serif size=1>Chicago, IL 60606</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="4%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="7%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="6%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="3%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="4%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="3%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="3%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD></TR></TABLE>____________________<BR>&nbsp;<BR>
<TABLE cellSpacing=0 cellPadding=0 border=0>

  <TR>
    <TD vAlign=top noWrap><FONT face=serif size=2>*</FONT></TD>
    <TD vAlign=top noWrap></TD>
    <TD vAlign=top align=left width="100%">
      <P align=justify><FONT face=serif size=2>Represents less than 1% of the
      outstanding shares of such class or the total voting power, as the case
      may be.</FONT></P></TD></TR>
  <TR>
    <TD vAlign=top noWrap>&nbsp;</TD>
    <TD vAlign=top noWrap></TD>
    <TD vAlign=top width="100%">&nbsp;</TD></TR>
  <TR>
    <TD vAlign=top noWrap><FONT face=serif size=2>(1)</FONT></TD>
    <TD vAlign=top noWrap>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </TD>
    <TD vAlign=top align=left width="100%">
      <P align=justify><FONT face=serif size=2>Includes 616,734 shares of Class
      B common stock directly owned by Dr. Felix Zandman; 8,000,100 shares held
      in a family trust, of which Dr. Zandman is the trustee and over which Dr.
      Zandman shares voting and dispositive control with Mrs. Ruta Zandman; and
      5,644,482 shares held in a voting trust, of which Dr. Zandman is the
      trustee and over which Dr. Zandman has sole voting control. The shares
      held in the voting trust consist of 3,134,074 shares deposited by the
      Estate of Mrs. Luella B. Slaner and 2,510,408 shares deposited by Mrs.
      Slaner&#146;s children and various trusts for the benefit of Mrs. Slaner&#146;s
      children and grandchildren. The voting trust agreement that governs the
      voting trust will remain in effect until the earlier of (x) February 1,
      2050 or (y) the death or resignation or inability to act of Dr. Zandman,
      but will terminate at any earlier time upon the due execution and
      acknowledgment by the trustee of a deed of termination, duly filed with
      the registered office of Vishay.</FONT></P></TD></TR>
  <TR>
    <TD vAlign=top width="100%" colSpan=3>&nbsp;</TD></TR>
  <TR>
    <TD vAlign=top noWrap><FONT face=serif size=2>(2)</FONT></TD>
    <TD vAlign=top noWrap></TD>
    <TD vAlign=top align=left width="100%">
      <P align=justify><FONT face=serif size=2>Includes 750 shares of Class B
      common stock directly owned by Marc Zandman and 750 shares of Class B
      common stock owned by Marc Zandman&#146;s minor
child.</FONT></P></TD></TR></TABLE>
<P align=center><FONT face=serif size=2>17</FONT></P>
<HR align=center width="100%" noShade SIZE=2>
<PAGE><BR>
<TABLE cellSpacing=0 cellPadding=0 border=0>

  <TR>
    <TD vAlign=top noWrap><FONT face=serif size=2>(3)</FONT></TD>
    <TD vAlign=top noWrap>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </TD>
    <TD vAlign=top align=left width="100%">
      <P align=justify><FONT face=serif size=2>Includes the same 8,000,100
      shares of Class B common stock held in a family trust, of which Dr. Felix
      Zandman is the trustee and over which Mrs. Zandman shares voting and
      dispositive control with Dr. Zandman. Excludes 616,734 shares of Class B
      common stock directly owned by Dr. Zandman; however, Mrs. Zandman has the
      authority to vote Dr. Zandman&#146;s directly owned Vishay shares in the event
      of his incapacity.</FONT></P></TD></TR>
  <TR>
    <TD vAlign=top width="100%" colSpan=3>&nbsp;</TD></TR>
  <TR>
    <TD vAlign=top noWrap><FONT face=serif size=2>(4)</FONT></TD>
    <TD vAlign=top noWrap></TD>
    <TD vAlign=top align=left width="100%">
      <P align=justify><FONT face=serif size=2>Total for All Directors and
      Executive Officers as a group excludes Richard N. Grubb, whose employment
      terminated effective September 1, 2008.</FONT></P></TD></TR>
  <TR>
    <TD vAlign=top width="100%" colSpan=3>&nbsp;</TD></TR>
  <TR>
    <TD vAlign=top noWrap><FONT face=serif size=2>(5)</FONT></TD>
    <TD vAlign=top noWrap></TD>
    <TD vAlign=top align=left width="100%">
      <P align=justify><FONT face=serif size=2>Based on information provided in
      a Schedule 13G filed on February 17, 2009 by LSV Asset Management.
      According to the Schedule 13G, LSV Asset Management may be deemed to have
      sole power to vote or direct the vote with respect to 9,389,266 shares of
      common stock; and shared power to dispose or direct the disposition with
      respect to 9,389,266 shares.</FONT></P></TD></TR></TABLE>
<P align=justify><B><FONT face=serif size=2>Section 16(a) Beneficial Ownership
Reporting Compliance</FONT></B></P>
<P align=justify><FONT face=serif size=2>Section 16(a) of the Securities
Exchange Act of 1934, as amended, requires our directors and executive officers
and persons who beneficially own more than ten percent of our common stock to
report their ownership of and transactions in our stock in filings with the SEC.
Copies of these reports are also required to be supplied to Vishay. Vishay
believes, based solely on a review of the copies of such reports received, that
our directors and executive officers and persons who beneficially own more than
ten percent of our common stock complied with all applicable Section 16(a)
reporting requirements during the year ended December 31, 2008, except that Dr.
Zandman, Dr. Paul, Mr. Grubb, Mr. Shoshani and Mr. Zandman inadvertently failed
to report timely on Form 4 their annual awards of phantom stock units on January
2, 2008. All of the Form 4&#146;s related to the phantom stock units were filed on
January 10, 2008.</FONT></P>
<P align=justify><B><FONT face=serif size=2>Compensation Committee Interlocks
and Insider Participation</FONT></B></P>
<P align=justify><FONT face=serif size=2>No member of the Compensation Committee
was at any time during 2008 an officer or employee of Vishay or any of the
Company&#146;s subsidiaries nor was any such person a former officer of Vishay or any
of the Company&#146;s subsidiaries. In addition, no Compensation Committee member is
an executive officer of another entity at which one of the Company&#146;s executive
officers serves on the board of directors.</FONT></P>
<P align=center><FONT face=serif size=2>18</FONT></P>
<HR align=center width="100%" noShade SIZE=2>
<PAGE>
<P align=center><B><FONT face=serif size=2>EXECUTIVE COMPENSATION</FONT></B></P>
<P align=justify><B><FONT face=serif size=2>Information Concerning Executive
Officers</FONT></B></P>
<P align=justify><FONT face=serif size=2>The named executive officers of Vishay,
along with their respective ages and positions with Vishay, as of March 30,
2009, are as follows: </FONT></P>
<TABLE cellSpacing=0 cellPadding=0 width="100%" border=0>

  <TR vAlign=bottom>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="37%"><B><FONT face=serif size=2>Name</FONT></B>&nbsp; </TD>
    <TD noWrap align=center width="1%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="6%"><FONT face=serif size=2><FONT size=3>&nbsp;</FONT><STRONG>Age</STRONG></FONT>&nbsp;</TD>
    <TD noWrap align=left width="1%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="54%"><B><FONT face=serif size=2>Position</FONT></B>&nbsp; </TD></TR>
  <TR vAlign=bottom>
    <TD vAlign=top noWrap align=left width="37%" bgColor=#c0c0c0><FONT face=serif size=2>Felix Zandman *</FONT></TD>
    <TD vAlign=top noWrap align=center width="1%" bgColor=#c0c0c0>&nbsp;</TD>
    <TD vAlign=top noWrap align=center width="6%" bgColor=#c0c0c0><FONT face=serif size=2>80</FONT></TD>
    <TD vAlign=top noWrap align=left width="1%" bgColor=#c0c0c0>&nbsp;</TD>
    <TD vAlign=top align=left width="54%" bgColor=#c0c0c0><FONT face=serif size=2>Executive Chairman of the Board, Chief Technical and Business
      Development Officer</FONT></TD></TR>
  <TR vAlign=bottom>
    <TD vAlign=top noWrap align=left width="37%"><FONT face=serif size=2>Gerald Paul *</FONT></TD>
    <TD vAlign=top noWrap align=center width="1%">&nbsp;</TD>
    <TD vAlign=top noWrap align=center width="6%"><FONT face=serif size=2>60</FONT></TD>
    <TD vAlign=top noWrap align=left width="1%">&nbsp;</TD>
    <TD vAlign=top align=left width="54%"><FONT face=serif size=2>Chief
      Executive Officer, President and Director</FONT></TD></TR>
  <TR vAlign=bottom>
    <TD vAlign=top noWrap align=left width="37%" bgColor=#c0c0c0><FONT face=serif size=2>Marc Zandman *</FONT></TD>
    <TD vAlign=top noWrap align=center width="1%" bgColor=#c0c0c0>&nbsp;</TD>
    <TD vAlign=top noWrap align=center width="6%" bgColor=#c0c0c0><FONT face=serif size=2>47</FONT></TD>
    <TD vAlign=top noWrap align=left width="1%" bgColor=#c0c0c0>&nbsp;</TD>
    <TD vAlign=top align=left width="54%" bgColor=#c0c0c0><FONT face=serif size=2>Vice Chairman of the Board, Chief Administration Officer, President
      &#150; Vishay Israel Limited</FONT></TD></TR>
  <TR vAlign=bottom>
    <TD vAlign=top noWrap align=left width="37%"><FONT face=serif size=2>Richard N. Grubb</FONT></TD>
    <TD vAlign=top noWrap align=center width="1%">&nbsp;</TD>
    <TD vAlign=top noWrap align=center width="6%"><FONT face=serif size=2>62</FONT></TD>
    <TD vAlign=top noWrap align=left width="1%">&nbsp;</TD>
    <TD vAlign=top align=left width="54%"><FONT face=serif size=2>Former
      Executive Vice President and Chief Financial Officer</FONT></TD></TR>
  <TR vAlign=bottom>
    <TD vAlign=top noWrap align=left width="37%" bgColor=#c0c0c0><FONT face=serif size=2>Lior Yahalomi</FONT></TD>
    <TD vAlign=top noWrap align=center width="1%" bgColor=#c0c0c0>&nbsp;</TD>
    <TD vAlign=top noWrap align=center width="6%" bgColor=#c0c0c0><FONT face=serif size=2>50</FONT></TD>
    <TD vAlign=top noWrap align=left width="1%" bgColor=#c0c0c0>&nbsp;</TD>
    <TD vAlign=top align=left width="54%" bgColor=#c0c0c0><FONT face=serif size=2>Executive Vice President and Chief Financial Officer</FONT></TD></TR>
  <TR vAlign=bottom>
    <TD vAlign=top noWrap align=left width="37%"><FONT face=serif size=2>Ziv
      Shoshani *</FONT></TD>
    <TD vAlign=top noWrap align=center width="1%">&nbsp;</TD>
    <TD vAlign=top noWrap align=center width="6%"><FONT face=serif size=2>42</FONT></TD>
    <TD vAlign=top noWrap align=left width="1%">&nbsp;</TD>
    <TD vAlign=top align=left width="54%"><FONT face=serif size=2>Executive
      Vice President, Chief Operating Officer and
Director</FONT></TD></TR></TABLE>____________________<BR>&nbsp;<BR>
<TABLE cellSpacing=0 cellPadding=0 border=0>

  <TR>
    <TD vAlign=top noWrap><FONT face=serif size=2>*</FONT></TD>
    <TD vAlign=top noWrap>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>
    <TD vAlign=top align=left width="100%">
      <P align=justify><FONT face=serif size=2>Biography is provided with Board
      of Directors.</FONT></P></TD></TR></TABLE>
<P align=justify><I><FONT face=serif size=2>Richard N. Grubb</FONT></I><FONT face=serif size=2> was Chief Financial Officer of Vishay from 1994 to August
2008, and was an Executive Vice President of Vishay since 1996. Mr. Grubb also
served as Treasurer from 1994 to 2007 and was associated with Vishay in various
capacities since 1975. Effective September 1, 2008, Mr. Grubb terminated his
employment for &#147;good reason&#148; (as defined in the employment agreement), as a
result of organizational changes in the Company&#146;s corporate finance and
accounting functions. Mr. Grubb currently serves under an at-will arrangement as
a part-time consultant to Dr. Zandman in his capacity as Executive
Chairman.</FONT></P>
<P align=justify><I><FONT face=serif size=2>Dr. Lior Yahalomi </FONT></I><FONT face=serif size=2>was appointed Executive Vice President and Chief Financial
Officer of the Company effective September 1, 2008. Dr. Yahalomi has been
employed by the Company since 2006 and was Senior Vice President &#150; Mergers and
Acquisitions, from June 2006 to September 2008. Prior to that for at least ten
years, Dr. Yahalomi held several executive positions in the technology,
financial services, and venture capital industries, including Managing Partner
of CMGI&#146;s @Ventures Technology Fund, Vice President for New Ventures of Gateway,
and Senior Vice President for Global Business Development of a business unit of
GE Capital. He is also an adjunct professor of marketing at the Wharton School
at the University of Pennsylvania and a Leadership Board Member of the Global
Consulting Practicum at the Wharton School.</FONT></P>
<P align=justify><FONT face=serif size=2>Officers serve, at the discretion of
the Board of Directors, until the meeting of the Board of Directors next
following each annual meeting of stockholders, subject to their rights under any
contracts of employment described under &#147;Compensation Discussion and
Analysis.&#148;</FONT></P>
<P align=justify><B><FONT face=serif size=2>Compensation Discussion and
Analysis</FONT></B></P>
<P align=justify><B><I><FONT face=serif size=2>Overview</FONT></I></B></P>
<P align=justify><FONT face=serif size=2>The Compensation Committee of the Board
of Directors is responsible for establishing and approving the compensation of
the Chief Executive Officer, recommending to the Board of Directors the
compensation of other executive officers, and administering Vishay&#146;s incentive
compensation and equity based plans. Other than with respect to the Chief
Executive Officer, the Board of Directors makes the final determination with
respect to compensation of Vishay&#146;s named executive officers.</FONT></P>
<P align=center><FONT face=serif size=2>19</FONT></P>
<HR align=center width="100%" noShade SIZE=2>
<PAGE>
<P align=justify><FONT face=serif size=2>This section of the proxy statement
explains how our executive compensation is designed with respect to our
executive officers. On September 1, 2008, Dr. Lior Yahalomi succeeded Mr.
Richard Grubb as Executive Vice President and Chief Financial Officer. As
required by the rules of the SEC, both Mr. Grubb and Dr. Yahalomi are included
as Named Executive Officers, and their compensation discussed, in this year&#146;s
proxy statement. Dr. Yahalomi&#146;s compensation through August 31, 2008 was not
determined or approved by the Compensation Committee. The Compensation Committee
negotiated and submitted to the Board for approval an employment agreement with
Dr. Yahalomi effective September 1, 2008.</FONT></P>
<P align=justify><I><FONT face=serif size=2>Compensation Philosophy
Generally</FONT></I></P>
<P align=justify><FONT face=serif size=2>Vishay&#146;s compensation programs were
historically designed to support our business goals and promote the short and
long-term profitable growth of the Company. Vishay&#146;s equity plans are designed
to ensure that executive compensation programs and practices are aligned with
the long-term interests of Vishay&#146;s stockholders. Total compensation of each
individual varies with individual performance and Vishay&#146;s overall performance
in achieving financial and non-financial objectives.</FONT></P>
<P align=justify><FONT face=serif size=2>The Compensation Committee and Vishay&#146;s
management believe that compensation should help to recruit, retain, and
motivate key employees who can function effectively both in periods of recession
and economic upturn. Ordinarily an executive officer&#146;s total compensation should
consist of a combination of cash payments and equity awards, to achieve the
right balance between short and long term performance. Equity-based compensation
should serve to align the interests of management with those of shareholders.
Severance protection should provide executives with an appropriate level of job
security, commensurate with their contributions to the Company and their
tenure.</FONT></P>
<P align=justify><FONT face=serif size=2>The Compensation Committee, in
consultation with Dr. Paul in his capacity as Chief Executive Officer,
undertakes an annual review of the compensation arrangements of Vishay&#146;s
executive officers.</FONT></P>
<P align=justify><I><FONT face=serif size=2>Performance
Philosophy</FONT></I></P>
<P align=justify><FONT face=serif size=2>The Company&#146;s compensation philosophy
is intended to dovetail with its philosophy of evaluating operating
performance.</FONT></P>
<P align=justify><FONT face=serif size=2>Like its peers in the electronics
industry, the Company has historically gauged its overall performance in
accordance with what it terms &#147;adjusted net income.&#148; The Company uses this term
to mean net income determined in accordance with U.S. generally accepted
accounting principles (&#147;GAAP&#148;) adjusted for various items that management
believes are not indicative of the intrinsic operating performance of the
Company&#146;s business, as detailed below. The bonuses for the most senior executive
officers under the Company&#146;s cash bonus plan discussed below, including
historically Dr. Zandman, Dr. Paul and Mr. Grubb and currently Dr. Zandman and
Dr. Paul, were keyed to this performance metric. If the Company performed well,
these executives would earn the preponderant share of their compensation through
the bonus mechanism.</FONT></P>
<P align=justify><FONT face=serif size=2>The bonuses for the Company&#146;s other
senior executive officers, historically Mr. Marc Zandman and Mr. Shoshani and
currently including Dr. Yahalomi, have been tailored to their specific
responsibilities, although reflecting in part certain aspects of the Company&#146;s
overall performance as well.</FONT></P>
<P align=justify><FONT face=serif size=2>The Compensation Committee has always
believed that the elements of compensation for the Company&#146;s senior executives
reward intrinsically sound management decisions and do not encourage risk taking
to enhance short-term profitability at the expense of the long-term health and
viability of the enterprise. The Committee believes that the Company&#146;s senior
executives have in fact at all times taken a prudent approach to corporate risk
management.</FONT></P>
<P align=center><FONT face=serif size=2>20</FONT></P>
<HR align=center width="100%" noShade SIZE=2>
<PAGE>
<P align=justify><I><FONT face=serif size=2>Historical Build of Senior Executive
Compensation Packages</FONT></I></P>
<P align=justify><FONT face=serif size=2>In 2004, under the direction of its
Compensation Committee, Vishay engaged in a major review and overhaul of the
compensation practices for its named executive officers. In connection with this
review, the Compensation Committee engaged Mullin Consulting, currently
MullinTBG, a nationally known and recognized executive compensation consulting
firm. Mullin was retained to assist in developing appropriate benefits and
compensation plans for the Company&#146;s top executives. As part of its engagement,
Mullin made recommendations concerning the proposed terms of the executives&#146;
employment contracts, including particularly salary and bonus compensation,
deferred compensation arrangements, severance arrangements and other
supplemental and post-retirement benefits. Mullin performed an analysis
comparing the then current compensation of Vishay&#146;s senior executive officers
with those of its closest peers in the passive and semiconductor component
industries. The Compensation Committee was also in regular communication with
Dr. Zandman, Dr. Paul, and Mr. Grubb (then Chief Financial Officer of the
Company), concerning this project. As a consequence of this review, Vishay (and
where relevant, certain of its subsidiaries) entered into comprehensive
employment agreements and other arrangements with each of its named executive
officers. These agreements and arrangements, except for base salaries, have
remained unchanged since that time and have governed the compensation paid and
awarded to the executive officers over the past five years, including the year
ended December 31, 2008.</FONT></P>
<P align=justify><FONT face=serif size=2>The Compensation Committee crafted the
compensation packages for Vishay&#146;s executive officers with a view to the roles
that each was expected to play over the medium term in Vishay&#146;s operations,
development, and strategic planning. Over the past years, the executives have
continued to function in the anticipated roles, so that the Compensation
Committee believes that the determinations made in 2004 continue to be relevant
and appropriate to our compensation philosophy.</FONT></P>
<P align=justify><FONT face=serif size=2>Although Dr. Zandman was our Chief
Executive Officer in 2004, it was contemplated that he would relinquish that
position to focus full time on technical and business development issues. This
occurred effective January 1, 2005. Vishay has always viewed its internal growth
through technical advance and its external growth through strategic acquisitions
as the primary drivers of stockholder value. Dr. Zandman had been responsible
for these areas in the past and, because he would remain with these
responsibilities going forward, the Compensation Committee determined that it
was appropriate for Dr. Zandman&#146;s compensation to continue to reflect his role
as chief architect of our growth and success.</FONT></P>
<P align=justify><FONT face=serif size=2>Dr. Paul and Mr. Grubb, until his
departure from the Company, worked with Dr. Zandman and each other, had senior
responsibilities for our overall business and financial affairs, respectively,
and have been instrumental as well in promoting our strategic advances. With the
assumption by Dr. Paul of the duties of the Chief Executive Officer in 2005,
certain responsibilities shifted from Dr. Zandman to Dr. Paul, but the
collective leadership function of the three most senior executives remained
intact. The compensation of Dr. Paul and Mr. Grubb reflects their positions and
responsibilities at the most senior executive level.</FONT></P>
<P align=justify><FONT face=serif size=2>Our succession plan provides for the
gradual transition of Mr. Zandman and Mr. Shoshani into the roles of senior
management upon the eventual retirement of Drs. Zandman and Paul. The
responsibilities of these executives have been increasing so that, for example,
since the inception of the agreements in 2004, Mr. Zandman has become Chief
Administrative Officer of Vishay and Mr. Shoshani has succeeded Dr. Paul in the
position of Chief Operating Officer. The compensation of these executives is
intended to reflect their transitional status. Currently, Messrs. Zandman and
Shoshani report to Dr. Paul and their compensation in part is subject to Dr.
Paul&#146;s annual assessment of their performance.</FONT></P>
<P align=justify><FONT face=serif size=2>The compensation arrangements were
embodied in agreements with each of the executives with the expectation that
they would remain in place for a period of time. The agreements have an
evergreen feature, whereby at the end of each year another year is added, so
that effectively the agreements always have three remaining years in their term.
An evergreen term is essentially similar to the right of an executive to receive
severance if the Company does not renew his employment agreement at the end of
its stated term, a not uncommon feature in senior executive employment
arrangements. The Compensation Committee chose to include the evergreen feature
rather than a right to severance upon end-of-term non-renewal in recognition of
the long-standing affiliation of each of the senior executives with the Company,
their significant contributions to the growth of the Company over the years and
the expectation that their affiliation with the Company would continue for the
foreseeable future. As a consequence, the compensation arrangements can only be
modified with the respective executives&#146; consent, without which, the executive
would otherwise have the right to terminate employment and receive severance
pay. Given the longstanding employment relationship with, and other ties to,
Vishay of each of the executives, the Compensation Committee did not believe
that the evergreen feature would impede change in the executive compensation
structure for senior management, where such change would be desirable and in the
best interests of Vishay.</FONT></P>
<P align=center><FONT face=serif size=2>21</FONT></P>
<HR align=center width="100%" noShade SIZE=2>
<PAGE>
<P align=justify><FONT face=serif size=2>Dr. Yahalomi&#146;s employment contract was
negotiated subsequent to his appointment as Executive Vice President and Chief
Financial Officer effective September 1, 2008. The agreement was approved by the
Compensation Committee and the full Board on December 5, 2008, just as the
contours of the current economic crisis were beginning to come into focus. The
terms of the agreement, which are discussed below, reflect the tentativeness of
the current environment as well as Dr. Yahalomi&#146;s more limited history with the
Company. Accordingly, there is no evergreen feature or mandatory equity
component, and the severance provisions are scaled back.</FONT></P>
<P align=justify><I><FONT face=serif size=2>Response to the Global
Recession</FONT></I></P>
<P align=justify><FONT face=serif size=2>The nearly unprecedented disruption in
the global economy that began in the summer of 2008 and that has accelerated
since that time continues to have a profound effect upon the Company. The
Compensation Committee, like the Company generally, has been focused on measures
to see the Company safely through the economic storm raging worldwide, and
particularly in the markets served by the Company. While management has always
been focused on generating free cash, which the Company defines as cash flow
from operations less cash used for capital expenditures, net of proceeds from
sale of fixed assets, conservation and generation of cash has now become central
to the Company&#146;s short-term management objectives. The Company has undertaken
various initiatives to conserve cash, including plant closures and reductions in
force. Consistent with these measures, the Company has imposed a freeze on
compensation, where possible, and the elimination of bonuses for
2009.</FONT></P>
<P align=justify><FONT face=serif size=2>The Compensation Committee has likewise
determined to freeze base salaries for the Company&#146;s senior executive officers
for 2009. While Dr. Zandman and Dr. Paul have a contractual entitlement to
participation in the Company&#146;s cash bonus plan, the Committee has encouraged
these executives to forgo their cash bonuses for 2009, subject to re-evaluation
if the Company and the economy should experience a meaningful turn-around in the
latter part of the year. The Committee expects that bonuses will not be paid to
Dr. Zandman and Dr. Paul for 2009 under currently foreseeable conditions. The
Committee also anticipates that the other senior executive officers, whose
bonuses are subject to individual performance measures, will not be paid bonuses
for 2009 unless conditions improve. The Committee has also determined not to
make any discretionary award of equity-based compensation for 2009, in part
because of the unsettled market environment and because of the depressed price
of the Company&#146;s stock to historically low levels at this time.</FONT></P>
<P align=justify><B><I><FONT face=serif size=2>Compensation
Componen</FONT></I></B><B><FONT face=serif size=2>ts</FONT></B></P>
<P align=justify><FONT face=serif size=2>The discussion that follows in this
section addresses senior executive compensation for 2008.</FONT></P>
<P align=justify><FONT face=serif size=2>The components of the compensation
packages for our named executive officers, as prescribed by their employment
agreements, include base salary, commensurate with the roles and responsibility
of the executives discussed above; annual performance based bonuses; deferred
compensation; and customary welfare and retirement benefits. The Compensation
Committee also considers the award of extra-contractual equity-based
compensation on a year-by-year basis. The basic compensation packages for the
executive officers, with the exception of Dr. Yahalomi, have generally been
congruent, with certain variations reflecting their respective positions. Dr.
Yahalomi&#146;s agreement is described separately below.</FONT></P>
<P align=justify><FONT face=serif size=2>The Committee reviewed data on
compensation practices of 47 public companies that are similar to Vishay in
terms of revenues, number of employees, market capitalization, geographic
location and/or scope of international operations, and that are found in the
Fortune 1000 listing and the S&amp;P MidCap 400 Index. These companies include
several active in the semiconductor and electronic components industry, and
others in different industries. However, the Committee did not select a specific
peer group for these purposes or perform a quantitative benchmarking
analysis.</FONT></P>
<P align=center><FONT face=serif size=2>22</FONT></P>
<HR align=center width="100%" noShade SIZE=2>
<PAGE>
<P align=justify><FONT face=serif size=2>Based on the data it reviewed and the
performance of the Company&#146;s executive officers, the Compensation Committee
believes that the compensation packages for 2008, taken as a whole, continued to
be generally in line with compensation arrangements at comparable public
companies. The Compensation Committee noted that the cash compensation,
including both salary and bonus, paid to Drs. Zandman and Paul and Mr. Grubb was
generally higher than the cash compensation paid to executives at other,
comparable public companies, while the equity based compensation was lower. This
has been consistent with the Company&#146;s historical emphasis on cash compensation,
as discussed below under &#147;Incentive Compensation.&#148; Mr. Grubb&#146;s compensation
package was somewhat larger than the compensation of chief financial officers of
other, comparable companies, in recognition of his participation with Drs.
Zandman and Paul in analyzing and implementing the strategic direction for the
Company and his non-financial reports, in addition to his duties as Chief
Financial Officer. The compensation packages of Messrs. Zandman and Shoshani
have been somewhat lower than the compensation of executive officers of their
rank at other, comparable public companies in consideration of their
transitional status in the Company&#146;s management structure. </FONT></P>
<P align=justify><FONT face=serif size=2>The compensation packages for the
Company&#146;s senior executives also include severance benefits that the
Compensation Committee believes are consistent with severance programs for
similarly situated senior executives at comparable public companies.</FONT><FONT face=serif size=2> </FONT></P>
<P align=justify><I><FONT face=serif size=2>Base salary </FONT></I></P>
<P align=justify><FONT face=serif size=2>The minimum base salary levels for Drs.
Zandman and Paul and Messrs. Zandman and Shoshani are fixed in the 2004
employment agreements. The same was true for Mr. Grubb&#146;s employment arrangement.
The Compensation Committee determined the minimum base salaries in 2004 in
consultation with Mullin Consulting, based upon the executives&#146; salary levels in
effect at the time, then present responsibilities and expectations with respect
to future responsibilities and a comparison to peer group executive salaries.
The Compensation Committee selected the group of peer group companies on the
advice of Mullin Consulting. Compensation practices in the peer group were only
one of the factors considered by the Compensation Committee, and the Committee
did not perform a quantitative benchmarking analysis. </FONT></P>
<P align=justify><FONT face=serif size=2>The Compensation Committee reviews the
base salary levels each year to determine whether an increase would be
appropriate. In this process, the Compensation Committee considers the
individual performance and prior years&#146; compensation level of each of the
executives, our recent operating results, operating results of our competitors,
projections for the future, other components of the executive pay packages,
perceived salary trends in executive base salary among our peer group and, in
the case of executives other than Drs. Zandman and Paul, input from our Chief
Executive Officer on executive performance.</FONT><FONT face=serif size=2>
</FONT></P>
<P align=justify><FONT face=serif size=2>Base salaries for Dr. Paul and Messrs.
Grubb, Zandman and Shoshani remained the same through 2005. For 2006, the
Compensation Committee approved a revised base salary for Dr. Paul, and, on the
recommendation of the Compensation Committee, the Board increased the base
salaries of the other named executive officers other than Dr. Zandman. These
base salaries were again increased in 2007. Dr. Paul&#146;s base salary has always
been denominated in euro, and, beginning in 2007, the base salaries of Mr. Marc
Zandman and Mr. Shoshani have been denominated in Israeli shekels. A portion of
the increase in the salaries of Dr. Paul, Messrs. Zandman and Shoshani since
2005, expressed in terms of U.S. dollars, reflects the significant weakening of
the dollar against the currencies of the home jurisdiction of these executives.
Dr. Zandman&#146;s base salary has remained unchanged since 1998, at his request.
</FONT></P>
<P align=justify><I><FONT face=serif size=2>Incentive
compensation</FONT></I><FONT face=serif size=2> </FONT></P>
<P align=justify><FONT face=serif size=2>Dr. Zandman and Dr. Paul participate in
the Vishay Intertechnology Section 162(m) Cash Bonus Plan (the &#147;162(m) Plan&#148;)
based on &#147;adjusted net income,&#148; as described below. Mr. Grubb participated in
this plan as well during his employment.</FONT></P>
<P align=justify><FONT face=serif size=2>Over many years, we have viewed
adjusted net income as the primary indicator of the performance of our senior
management team. As more specifically addressed below, adjusted net income
refers to net income determined in accordance with GAAP, adjusted to eliminate
the after tax effects of items, positive or negative, that do not relate to our
intrinsic operations. These items include, among others, goodwill impairment;
impairment of indefinite-lived intangible assets; asset write-downs; severance
and restructuring costs; special tax items; and other items, such as unusual
gains or losses that impact GAAP net income, not reflecting on-going operating
activities. We utilize this measure in part because it eliminates factors that
mask the actual performance of on-going operations and because of its currency
with other public companies in our industry. Accordingly, the Compensation
Committee determined that the incentive compensation of Drs. Zandman and Paul
and Mr. Grubb should be primarily in the form of a percentage of adjusted net
income, with a cap (generally three times salary) or other feature to avoid
compensation that in fact or in appearance might be deemed excessive.</FONT></P>
<P align=center><FONT face=serif size=2>23 </FONT></P>
<HR align=center width="100%" noShade SIZE=2>
<PAGE>
<P align=justify><FONT face=serif size=2>The 162(m) Plan provides an annual
bonus as a percentage of our adjusted net income. Dr. Zandman&#146;s bonus is equal
to 3.0% of adjusted net income and the bonus of Dr. Paul is equal to 1.0% of
adjusted net income. Mr. Grubb&#146;s bonus percentage was the same as Dr. Paul&#146;s
bonus percentage. Bonuses under the 162(m) Plan are limited to three times the
executive&#146;s base salary. </FONT></P>
<P align=justify><FONT face=serif size=2>Messrs. Zandman and Shoshani are
eligible for a performance bonus of up to 42.5%, as determined by the
Compensation Committee, based on their individual performances. The individual
performance goals are established by the Chief Executive Officer in consultation
with the executives themselves at the beginning of each calendar year and
include both a quantitative and qualitative component. The performance of each
executive is reviewed by the Chief Executive Officer and the Compensation
Committee following the end of the year, and each executive is assigned a
performance score for each of several categories. The total maximum score that
each of Messrs. Zandman and Shoshani could achieve is 42.5, which would entitle
Messrs. Zandman and Shoshani to a performance bonus of 42.5% of their base
salary.</FONT></P>
<P align=justify><I><FONT face=serif size=2>Equity Based
Compensation</FONT></I><FONT face=serif size=2> </FONT></P>
<P align=justify><FONT face=serif size=2>In recent years, the Compensation
Committee was not inclined to award significant amounts of equity-based
compensation, and the 2004 employment arrangements with our executive officers
reflect this approach. In part, the Compensation Committee&#146;s determination not
to rely on equity-based compensation was motivated by a desire to avoid dilution
of the interests of stockholders generally. Also, this approach is a reflection
of our stock performance, which in recent years, in the view of the Compensation
Committee, has not accurately mirrored our operating performance in comparison
to our peers. The Compensation Committee has reconsidered this policy and
intends to consider the award of extra-contractual equity-based compensation on
a year-by-year basis. The reconsideration has been motivated in part by the goal
of aligning executive compensation with the Company&#146;s stock performance, which
has lagged over the past several years, and in part by limitations on the amount
of incentive compensation payable under the Company&#146;s 162(m) cash bonus plan.
When the Compensation Committee recommended adoption of amendments to the
Company&#146;s 162(m) plan in 2004, limiting payments to three times base salary, the
Compensation Committee contemplated levels of adjusted net income (the basis for
payments under the 162(m) plan) in the range of $100 million. In 2006 and 2007,
the Company&#146;s adjusted net income significantly exceeded $100 million and the
Compensation Committee determined that additional incentive compensation was
appropriate.</FONT></P>
<P align=justify><I><FONT face=serif size=2>Deferred compensation
</FONT></I></P>
<P align=justify><FONT face=serif size=2>Executives are eligible to participate
in a nonqualified deferred compensation plan, which is available to all
employees who meet certain criteria under the Internal Revenue Code. Vishay
annually contributes $150,000 to this plan on behalf of Dr. Zandman, and
$100,000 for Dr. Paul and Messrs. Zandman and Shoshani, pursuant to their
respective employment agreements. During his employment, a $100,000 annual
contribution was also made to the plan for Mr. Grubb. </FONT></P>
<P align=justify><FONT face=serif size=2>Amounts contributed to these plans
prior to January 1, 2005 were deemed deferred until retirement or termination of
employment. Effective January 1, 2005, all employees that participate in the
plan were given the option to choose shorter deferral periods for all or a
portion of their deferred compensation. The senior executives have elected to
defer all eligible amounts of compensation until retirement or termination of
employment, at which time, the amounts would be paid in a lump sum. To the
extent required to avoid tax penalties, the deferred amounts are not paid until
six months after the termination of employment. </FONT></P>
<P align=justify><FONT face=serif size=2>As noted, Drs. Zandman and Paul and
Messrs. Zandman and Shoshani each have a long-standing relationship with the
Company, and we expect that each will continue to serve Vishay for so long as
their services are desired and they can make effective management contributions.
The Compensation Committee therefore considers this deferred compensation in the
nature of a retirement benefit and an anticipatory reward for loyalty to Vishay
over time. The deferral is also intended to delay payment until such time as the
compensation should be deductible under Section 162(m) of the Internal Revenue
Code. Mr. Grubb&#146;s deferred compensation was awarded consistent with this
philosophy as well.</FONT></P>
<P align=justify><FONT face=serif size=2>While deferred, amounts are credited
with &#147;earnings&#148; based on the performance of notional investment options
available under the plan. No portion of the earnings credited during 2008 was
&#147;above market&#148; or &#147;preferential.&#148; </FONT></P>
<P align=center><FONT face=serif size=2>24 </FONT></P>
<HR align=center width="100%" noShade SIZE=2>
<PAGE>
<P align=justify><I><FONT face=serif size=2>Phantom stock units </FONT></I></P>
<P align=justify><FONT face=serif size=2>Pursuant to their employment
agreements, Drs. Zandman and Paul and Messrs. Zandman and Shoshani receive
annual grants of phantom stock units. Mr. Grubb received similar grants during
his employment. The grants are made under the Company&#146;s Senior Executive Phantom
Stock Plan, which was approved by stockholders at our 2004 annual meeting.
Similar to the deferred cash compensation described above, the Compensation
Committee considers the grant of phantom stock units in the nature of a
retirement benefit and an anticipatory reward for loyalty to Vishay over time.
</FONT></P>
<P align=justify><FONT face=serif size=2>Deferred equity compensation consists
of 5,000 phantom stock units per year per to each executive. The number of units
to be granted annually was determined based on the market price of Vishay common
stock in 2004, at the time the deferred compensation program was crafted, of
approximately $20 per share, so that the deferred cash and stock compensation
would be of similar magnitude. The Compensation Committee determined not to
grant $100,000 in value of phantom stock units annually, because this could have
the effect of inappropriately rewarding executives with more shares when stock
prices declined or penalize them when stock prices increased. Accordingly, the
Compensation Committee elected to maintain a level award of phantom stock units
to the executives from year to year. The cumulative increase in the number of
phantom stock units held by the executives over time also is intended to
strengthen the alignment of executive and stockholder interests in the long term
appreciation of Vishay&#146;s equity value. </FONT></P>
<P align=justify><I><FONT face=serif size=2>Severance </FONT></I></P>
<P align=justify><FONT face=serif size=2>The Compensation Committee believes
that severance payments in the event of an involuntary termination of employment
are part of a standard compensation package for senior executives. Also, the
changes in management roles anticipated when the compensation program was
developed in 2004 may have created some uncertainty regarding the continuity of
employment of the executives other than Dr. Zandman. Consequently, the
Compensation Committee included customary severance provisions for the named
executive officers in their employment contracts. The terms of these severance
provisions are discussed elsewhere in this proxy statement. </FONT></P>
<P align=justify><FONT face=serif size=2>Severance payments were made to Mr.
Grubb upon termination of his employment effective September 1, 2008 in
accordance with the terms of his employment agreement, as described below.
</FONT></P>
<P align=justify><I><FONT face=serif size=2>Dr. Zandman&#146;s Employment
Contract</FONT></I><FONT face=serif size=2> </FONT></P>
<P align=justify><FONT face=serif size=2>Dr. Zandman&#146;s employment contract
includes a provision entitling him to a royalty during the ten years following
his involuntary termination of employment equal to 5% of gross sales, less
returns and allowances, of Vishay products incorporating patents, inventions and
any other form of technology created, discovered or developed by him or under
his direction. The royalty is payable in the event Dr. Zandman is terminated
without cause or resigns for &#147;good reason&#148;, as defined in his employment
agreement. This provision was carried over from Dr. Zandman&#146;s original
employment agreement of March 1985, and cannot be modified or eliminated without
Dr. Zandman&#146;s consent. It is a reflection, among other things, of Dr. Zandman&#146;s
key role in developing the Company&#146;s technologies, his input and guidance on
substantially all of the Company&#146;s R&amp;D activities since the Company&#146;s
inception and the absence of any compensation to Dr. Zandman for the core
intellectual property that he has contributed to the Company over the years from
its inception. </FONT></P>
<P align=center><FONT face=serif size=2>25 </FONT></P>
<HR align=center width="100%" noShade SIZE=2>
<PAGE>
<P align=justify><I><FONT face=serif size=2>Retirement benefits</FONT></I><FONT face=serif size=2> </FONT></P>
<P align=justify><FONT face=serif size=2>The Compensation Committee believes
that providing an adequate pension benefit commensurate with position is
essential to retaining qualified individuals for long-term employment. Vishay
maintains pension programs for most employees in the United States and Germany,
including its executive officers. With the exception of Dr. Zandman&#146;s pension,
the retirement benefits for executive officers are not materially preferential
to those of other employees. </FONT></P>
<P align=justify><I><FONT face=serif size=2>Perquisites </FONT></I></P>
<P align=justify><FONT face=serif size=2>We provide executive officers with
perquisites and other personal benefits that Vishay and the Compensation
Committee believe are reasonable and consistent with our overall compensation
program. These perquisites are not intended, however, to constitute a material
portion of the executive&#146;s compensation packages. In general, the perquisites,
while not integral to the performance of an executive&#146;s duties, must bear some
relationship to the executive&#146;s employment and be of perceived benefit to
Vishay. The Compensation Committee periodically reviews the levels of
perquisites and other personal benefits provided to named executive
officers.</FONT><FONT face=serif size=2> </FONT></P>
<P align=justify><I><FONT face=serif size=2>Individual
considerations</FONT></I><FONT face=serif size=2> </FONT></P>
<P align=justify><FONT face=serif size=2>The disparity in compensation among the
Company&#146;s senior executives reflects a general assessment of their contributions
to the Company&#146;s current performance and its prospects for growth in the future.
While Dr. Zandman no longer serves as Chief Executive Officer, he continues to
function as Chief Technical Officer and Chief Business Development Officer. The
Company&#146;s successes have always been driven by the twin engines of technological
innovation and synergistic acquisition. Dr. Zandman continues to lead in both
these areas and his higher compensation reflects a perception by the
Compensation Committee that the areas of his responsibility will continue to be
the key drivers for the Company&#146;s future performance. The compensation of Dr.
Paul is intended to be commensurate with his responsibility and oversight, as
President and Chief Executive Officer, for all areas of the Company&#146;s
operations. The compensation of Mr. Grubb reflected not only his former role as
Chief Financial Officer but also his service as a direct report for various
financial and non-financial departments and his strategic input on all major
corporate initiatives. While it is anticipated that Messrs. Zandman and Shoshani
will succeed to the Company&#146;s top operational posts over time, they currently
are responsible primarily for specific areas of the Company&#146;s operations and
report to the Chief Executive Officer. The relatively lower compensation for
Messrs. Zandman and Shoshani reflects their current transitional status.
</FONT></P>
<P align=justify><I><FONT face=serif size=2>Dr. Lior Yahalomi&#146;s Employment
Arrangements</FONT></I><FONT face=serif size=2> </FONT></P>
<P align=justify><FONT face=serif size=2>As noted above, Dr. Yahalomi&#146;s
employment arrangements were negotiated in the fall of 2008 and are
qualitatively different in several respects than the arrangements negotiated in
2004 with the other senior executive officers. The differences are reflective of
the uncertainties of the current business environment, as well as Dr. Yahalomi&#146;s
limited tenure with the Company to date. </FONT></P>
<P align=justify><FONT face=serif size=2>Under his contract, Dr. Yahalomi
receives a base salary of $362,500 per year. The differential between his base
salary as Executive Vice President and Chief Financial Officer and the base
salary of his prior position as Corporate Senior Vice President, Mergers and
Acquisitions was pro-rated based on the months he served as Chief Financial
Officer during the year. Dr. Yahalomi is entitled to receive a discretionary
bonus of up to 50% of base salary as determined by the Compensation Committee or
the Chief Executive Officer.</FONT></P>
<P align=justify><FONT face=serif size=2>The terms of Dr. Yahalomi&#146;s severance
arrangements are described elsewhere in this proxy statement, but are limited to
a maximum of 12 months of base salary.</FONT></P>
<P align=justify><FONT face=serif size=2>Dr. Yahalomi is entitled to participate
in any and all medical insurance, group health insurance, disability insurance,
life insurance and retirement plans which are generally made available by the
Company to its senior executives, subject to plan requirements. However, he does
not receive Company contributions under the Company&#146;s nonqualified deferred
compensation plan and does not participate in the Senior Executive Phantom Stock
Plan. </FONT></P>
<P align=center><FONT face=serif size=2>26 </FONT></P>
<HR align=center width="100%" noShade SIZE=2>
<PAGE>
<P align=justify><B><I><FONT face=serif size=2>2008 Executive Compensation
</FONT></I></B></P>
<P align=justify><FONT face=serif size=2>The components of 2008 compensation for
Drs. Zandman and Paul and Messrs. Grubb, Zandman and Shoshani were largely
consistent with their employment agreements and consisted of: </FONT></P>
<UL style="TEXT-ALIGN: justify">
  <LI><FONT face=serif size=2>base salary;&nbsp;</FONT>
  <LI><FONT face=serif size=2>cash and equity performance-based
  bonuses;&nbsp;</FONT>
  <LI><FONT face=serif size=2>deferred compensation;&nbsp;</FONT>
  <LI><FONT face=serif size=2>other equity compensation;&nbsp;</FONT>
  <LI><FONT face=serif size=2>severance or change in control
  benefits;&nbsp;</FONT>
  <LI><FONT face=serif size=2>retirement benefits; and&nbsp;</FONT>
  <LI><FONT face=serif size=2>perquisites and other personal
  benefits.</FONT></LI></UL>
<P></P>
<P align=justify><FONT face=serif size=2>In addition, Drs. Zandman and Paul and
Mr. Grubb were awarded extra-contractual Restricted Stock Units under the
Company&#146;s 2007 Stock Incentive Program. Mr. Zandman and Mr. Shoshani were
eligible to receive restricted stock unit grants in 2008, however, the Company
had to make certain regulatory filings in Israel before such grants could be
made to these executives. The approvals required by the Israeli tax authority
have not yet been received. Accordingly, the grants to these executives will not
be made until the Compensation Committee has acted upon the approval of the
Israeli tax authority.</FONT><FONT face=serif size=2> </FONT></P>
<P align=justify><FONT face=serif size=2>The components of 2008 compensation for
Dr. Yahalomi, based on his formal employment agreement, consisted of:
</FONT></P>
<UL style="TEXT-ALIGN: justify">
  <LI><FONT face=serif size=2>base salary;&nbsp;</FONT>
  <LI><FONT face=serif size=2>a discretionary performance-based bonus, pro-rated
  for the portion of the year during which he served as Executive Vice President
  and Chief Financial Officer; and&nbsp;</FONT>
  <LI><FONT face=serif size=2>perquisites and other personal
  benefits.</FONT></LI></UL>
<P></P>
<P align=justify><FONT face=serif size=2>The tables and accompanying footnotes
that follow provide additional information regarding the compensation earned,
held by, or paid to each of our named executive officers in 2008. </FONT></P>
<P align=justify><I><FONT face=serif size=2>Base salary</FONT></I><FONT face=serif size=2> </FONT></P>
<P align=justify><FONT face=serif size=2>Base salaries for 2008 are set forth
below: </FONT></P>
<DIV align=right>
<TABLE cellSpacing=0 cellPadding=0 width="100%" border=0>

  <TR vAlign=bottom>
    <TD noWrap align=left width="34%"><B><FONT face=serif size=2>Name</FONT></B>&nbsp; </TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=left width="32%"><B><FONT face=serif size=2>2008 Base
      Salary</FONT></B> </TD>
    <TD noWrap align=left width="1%">&nbsp; </TD>
    <TD noWrap align=left width="32%"><B><FONT face=serif size=2>Percentage
      Increase from</FONT></B> </TD></TR>
  <TR vAlign=bottom>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="34%">&nbsp;&nbsp; </TD>
    <TD noWrap align=left width="1%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="32%">&nbsp; </TD>
    <TD noWrap align=left width="1%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="32%"><B><FONT face=serif size=2>Prior
      Year&nbsp;<SUP>(1)</SUP></FONT></B> </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="34%" bgColor=#c0c0c0><FONT face=serif size=2>Dr. Felix Zandman</FONT>&nbsp; </TD>
    <TD noWrap align=right width="1%" bgColor=#c0c0c0>&nbsp;</TD>
    <TD noWrap align=left width="32%" bgColor=#c0c0c0><FONT face=serif size=2>$975,000</FONT> </TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0>&nbsp; </TD>
    <TD noWrap align=left width="32%" bgColor=#c0c0c0><FONT face=serif size=2>None</FONT> </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="34%"><FONT face=serif size=2>Dr. Gerald
      Paul</FONT>&nbsp; </TD>
    <TD noWrap align=right width="1%">&nbsp;</TD>
    <TD noWrap align=left width="32%"><FONT face=serif size=2>&euro;752,776
      (approximately $1,104,000) <SUP>(2)</SUP></FONT> </TD>
    <TD noWrap align=left width="1%">&nbsp; </TD>
    <TD noWrap align=left width="32%"><FONT face=serif size=2>7.0%</FONT>
  </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="34%" bgColor=#c0c0c0><FONT face=serif size=2>Dr. Lior Yahalomi</FONT>&nbsp; </TD>
    <TD noWrap align=right width="1%" bgColor=#c0c0c0>&nbsp;</TD>
    <TD noWrap align=left width="32%" bgColor=#c0c0c0><FONT face=serif size=2>$362,500 <SUP>(3)</SUP></FONT> </TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0>&nbsp;</TD>
    <TD noWrap align=left width="32%" bgColor=#c0c0c0><FONT face=serif size=2>n/a</FONT> </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="34%"><FONT face=serif size=2>Richard N.
      Grubb</FONT>&nbsp; </TD>
    <TD noWrap align=right width="1%">&nbsp;</TD>
    <TD noWrap align=left width="32%"><FONT face=serif size=2>$485,000</FONT>
    </TD>
    <TD noWrap align=left width="1%">&nbsp; </TD>
    <TD noWrap align=left width="32%"><FONT face=serif size=2>3.5%</FONT>
  </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="34%" bgColor=#c0c0c0><FONT face=serif size=2>Marc Zandman</FONT>&nbsp; </TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="32%" bgColor=#c0c0c0><FONT face=serif size=2>NIS 1,422,981 (approximately $397,000) </FONT><SUP><FONT face=serif size=2>(4)</FONT></SUP> </TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0>&nbsp; </TD>
    <TD noWrap align=left width="32%" bgColor=#c0c0c0><FONT face=serif size=2>3.5%</FONT> </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="34%"><FONT face=serif size=2>Ziv
      Shoshani</FONT>&nbsp; </TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=left width="32%"><FONT face=serif size=2>NIS 1,201,329
      (approximately $335,000) </FONT><SUP><FONT face=serif size=2>(4)</FONT></SUP> </TD>
    <TD noWrap align=left width="1%">&nbsp; </TD>
    <TD noWrap align=left width="32%"><FONT face=serif size=2>3.5%</FONT>
  </TD></TR></TABLE></DIV>____________________<BR><BR>
<TABLE style="TEXT-ALIGN: justify" cellSpacing=0 cellPadding=0 border=0>

  <TR>
    <TD vAlign=top noWrap><FONT face=serif size=2>(1)</FONT></TD>
    <TD vAlign=top noWrap></TD>
    <TD vAlign=top width="100%"><FONT face=serif size=2>Determined in the
      currency of payment</FONT></TD></TR>
  <TR>
    <TD vAlign=top width="100%" colSpan=3>&nbsp;</TD></TR>
  <TR>
    <TD vAlign=top noWrap><FONT face=serif size=2>(2)</FONT></TD>
    <TD vAlign=top noWrap></TD>
    <TD vAlign=top width="100%"><FONT face=serif size=2>Paid in
  euro.</FONT></TD></TR>
  <TR>
    <TD vAlign=top width="100%" colSpan=3>&nbsp;</TD></TR>
  <TR>
    <TD vAlign=top noWrap><FONT face=serif size=2>(3)</FONT></TD>
    <TD vAlign=top noWrap>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </TD>
    <TD vAlign=top width="100%"><FONT face=serif size=2>Effective as of
      September 1, 2008. As shown on the Summary Compensation Table, the actual
      salary received by Dr. Yahalomi for 2008 was approximately $295,000,
      comprising his salary before serving as Chief Financial Officer and four
      months of salary at this rate.</FONT></TD></TR>
  <TR>
    <TD vAlign=top width="100%" colSpan=3>&nbsp;</TD></TR>
  <TR>
    <TD vAlign=top noWrap><FONT face=serif size=2>(4)</FONT></TD>
    <TD vAlign=top noWrap></TD>
    <TD vAlign=top width="100%"><FONT face=serif size=2>Paid in Israeli
      shekels (NIS).</FONT></TD></TR></TABLE>
<P align=center><FONT face=serif size=2>27 </FONT></P>
<HR align=center width="100%" noShade SIZE=2>
<PAGE>
<P align=justify><FONT face=serif size=2>As noted above, the Compensation
Committee has determined not to increase, or recommend the increase, of the base
salaries of any of the senior executive officers for 2009. </FONT></P>
<P align=justify><I><FONT face=serif size=2>Performance-based bonus
</FONT></I></P>
<P align=justify><FONT face=serif size=2>Drs. Zandman and Paul and Mr. Grubb
receive bonuses in accordance with the 162(m) Plan, while Dr. Yahalomi along
with Messrs. Zandman and Shoshani receive performance bonuses, in accordance
with the terms of their respective contracts. The bonuses for Drs. Zandman and
Paul and Mr. Grubb are limited to three times base salary by the terms of the
162(m) Plan. The bonuses for Messrs. Zandman and Shoshani are limited to 42.5%
and the bonus for Dr. Yahalomi is limited to 50% of their respective base
salaries.</FONT></P>
<P align=justify><FONT face=serif size=2>Based upon adjusted net income of
$99,189,000 for 2008, Dr. Zandman received a cash bonus payment of $2,925,000,
and Dr. Paul and Mr. Grubb received cash bonus payments of $991,889. </FONT></P>
<P align=justify><FONT face=serif size=2>In 2008, the individual performance
goals of Mr. Zandman related to his position as Chief Administration Officer and
included meeting budgeted general and administrative costs, integrating the
Company&#146;s new worldwide IT organization and integrating its new worldwide human
resources structure. Upon the recommendation of the Chief Executive Officer, the
Compensation Committee determined to award Mr. Zandman a performance bonus equal
to 22.75% of base salary. </FONT></P>
<P align=justify><FONT face=serif size=2>The individual performance goals of Mr.
Shoshani related to his position as Chief Operating Officer and Executive Vice
President in charge of the Company&#146;s Foil and Measurements Group. These goals
included reduction of certain fixed costs and capital expenditures and
implementation of certain restructuring, relocation and IT objectives. Upon the
recommendation of the Chief Executive Officer, the Compensation Committee
determined to award Mr. Shoshani a performance bonus equal to 11.75% of base
salary. </FONT></P>
<P align=justify><FONT face=serif size=2>In 2008, the individual performance
goals of Dr. Yahalomi related to his position as Executive Vice President and
Chief Financial Officer and included downsizing and restructuring for the
current economic environment, global cash and debt management and managing the
challenge of investor relations in recessionary times. Upon the recommendation
of the Chief Executive Officer, the Compensation Committee determined to award
Dr. Yahalomi a performance bonus equal to 12.5% of base salary. </FONT></P>
<P align=justify><I><FONT face=serif size=2>Stock-based
compensation</FONT></I><FONT face=serif size=2> </FONT></P>
<P align=justify><FONT face=serif size=2>In early 2008, the Compensation
Committee awarded restricted stock units (RSUs) to certain senior executive
officers in respect of the Company&#146;s 2007 performance. Adjusted net income was
$130.8 million in 2007, compared to $139.7 million in 2006. In both years,
adjusted net income had substantially exceeded $100 million; the level
contemplated when the contractual bonus arrangements were established in
2004.</FONT></P>
<P align=justify><FONT face=serif size=2>The 2007 award in respect of the
Company&#146;s 2006 performance was in the form of stock options. The Committee chose
to award restricted stock units in 2008 in respect of the Company&#146;s 2007
performance because it believed that the greater certainty of receipt of the
benefits of the award would provide a more meaningful incentive to the
executives. Also, with the price of the common stock near historical lows at the
time, the Compensation Committee believed that the issuance of stock options
would be overly dilutive. To maintain equivalence with the 2007 stock option
award, the Compensation Committee employed a customary ratio of options to
acquire 2.5 shares of common stock for each restricted stock unit. The
Compensation Committee took into consideration the fact that the award of these
restricted stock units would not be exempt from the Section 162(m) deduction
limits and, therefore will not be deductible if the compensation of an executive
in the relevant year exceeds $1 million. However, the Compensation Committee
believed that the factors favoring issuance of the units outweighed this
consideration. </FONT></P>
<P align=justify><FONT face=serif size=2>The RSU awards were as follows: Dr.
Zandman, 84,000; Dr. Paul 56,000; and Mr. Grubb, 28,000. The awards became
effective upon stockholder approval of amendments to the Company&#146;s Stock
Incentive Program to provide for the grant of RSUs at last year&#146;s annual meeting
held on May 28, 2008. For Drs. Zandman and Paul and Mr. Grubb, the RSUs vest in
six equal installments, the first on the date of stockholder approval, and the
remainder on the first five anniversaries of that date. Following the
termination of his employment, Mr. Grubb forfeited the remaining installments of
his award.</FONT></P>
<P align=center><FONT face=serif size=2>28 </FONT></P>
<HR align=center width="100%" noShade SIZE=2>
<PAGE>
<P align=justify><FONT face=serif size=2>The Compensation Committee awarded to
these executives an equivalent number of RSUs in respect of 2008, also with a
six year vesting schedule, contingent on the Company achieving a specified
percentage net increase in adjusted net income per share in 2008 over adjusted
net income per share in 2007. Adjusted net income of $99,189,000 for 2008
declined in comparison to the prior year, and these grants were therefore
forfeited. As discussed above, the Compensation Committee determined not to
grant any discretionary equity-based compensation for 2009. </FONT></P>
<P align=justify><B><I><FONT face=serif size=2>Other Considerations Regarding
Executive Compensation </FONT></I></B></P>
<P align=justify><I><FONT face=serif size=2>Israeli benefits </FONT></I></P>
<P align=justify><FONT face=serif size=2>Mr. Zandman and Mr. Shoshani are
employed by Vishay Israel Ltd., an Israeli subsidiary of Vishay Intertechnology,
Inc. and are residents of Israel. As a result, they are entitled to certain
benefits that are generally available to employees in Israel on a
non-discriminatory basis, but are not afforded to the other named executive
officers, including:</FONT></P>
<UL style="TEXT-ALIGN: justify">
  <LI><FONT face=serif size=2>advanced training fund, 7.5% of base
  salary&nbsp;</FONT>
  <LI><FONT face=serif size=2>severance fund, 8.33% of base salary&nbsp;</FONT>
  <LI><FONT face=serif size=2>disability insurance, 2.5% of base
  salary&nbsp;</FONT>
  <LI><FONT face=serif size=2>pension fund, 5% of base salary</FONT></LI></UL>
<P></P>
<P align=justify><FONT face=serif size=2>These benefits are required by Israeli
law and employment practices generally, and were taken into account by the
Compensation Committee in formulating the overall compensation package for these
executives. </FONT></P>
<P align=justify><I><FONT face=serif size=2>Foreign currency considerations
</FONT></I></P>
<P align=justify><FONT face=serif size=2>Dr. Paul is employed by Vishay Europe
GmbH, a German subsidiary of Vishay Intertechnology, Inc., and is a German
citizen. Accordingly, our employment agreement with Dr. Paul provides for his
base salary to be denominated (and paid) in euro. Messrs. Zandman and Shoshani
in 2008, as residents of Israel, now have their base salaries denominated (and
paid) in Israeli new shekels. With the weakening of the U.S. dollar versus the
euro and the Israeli shekel in recent years, the amounts reported in U.S.
dollars as compensation for these executives effectively increased.</FONT></P>
<P align=justify><FONT face=serif size=2>The Compensation Committee evaluates
the effect of foreign currency conversion rates in formulating the overall
compensation package for these executives. </FONT></P>
<P align=justify><I><FONT face=serif size=2>Tax deductibility of executive
compensation </FONT></I></P>
<P align=justify><FONT face=serif size=2>Section 162(m) of the Internal Revenue
Code limits to $1 million the annual tax deduction for compensation paid to each
of the Chief Executive Officer and any of the three highest paid other executive
officers, other than the Chief Executive Officer and the Chief Financial
Officer. However, compensation that qualifies as performance-based compensation
is deductible even in excess of $1 million. As part of its role, the
Compensation Committee reviews and considers the deductibility of executive
compensation under Section 162(m) of the Code. Vishay believes that the
compensation generally is fully deductible for federal income tax purposes. The
annual bonuses under the 162(m) Plan are based on Vishay&#146;s earnings, and
therefore qualify as performance-based compensation. All stock options awarded
by Vishay also qualify as performance-based compensation, as do most awards of
restricted stock and restricted stock units, the vesting of which requires the
Company to achieve performance targets of a type contemplated by a plan approved
by stockholders. </FONT></P>
<P align=center><FONT face=serif size=2>29 </FONT></P>
<HR align=center width="100%" noShade SIZE=2>
<PAGE>
<P align=justify><FONT face=serif size=2>In certain situations, the Compensation
Committee may approve compensation that will not satisfy the requirements of
Section 162(m), in order to ensure competitive levels of total compensation for
its executive officers. For example, Dr. Paul&#146;s base salary for 2008 exceeded $1
million, largely because his salary is payable in euro and the dollar has
weakened considerably against the euro in recent years. The 2004 employment
agreements provide for mandatory deferral of any such compensation under those
agreements until the payment of the compensation would be deductible by Vishay
for federal income tax purposes. The restricted stock units granted in 2008 in
respect of the Company&#146;s 2007 performance do not qualify as performance-based
compensation. The Compensation Committee determined that the factors favoring
granting these awards outweighed the tax considerations. </FONT></P>
<P align=justify><I><FONT face=serif size=2>Nonqualified deferred compensation
</FONT></I></P>
<P align=justify><FONT face=serif size=2>On October 22, 2004, the American Jobs
Creation Act of 2004 was signed into law, adding Section 409A to the Internal
Revenue Code, which changed the tax rules applicable to nonqualified deferred
compensation arrangements. A violation of these new rules could result in the
imposition of a 20% penalty tax on the affected executives. The Compensation
Committee, through its legal counsel, is monitoring compliance with Section
409A. </FONT></P>
<P align=justify><I><FONT face=serif size=2>Certain covenants</FONT></I><FONT face=serif size=2> </FONT></P>
<P align=justify><FONT face=serif size=2>Under the terms of their employment
contracts, the executives are subject to customary non-competition,
non-solicitation, non-disparagement and confidentiality covenants. The
non-competition and non-solicitation covenants for executives other than Dr.
Zandman remain in force through the second anniversary of the date of
termination of the executive&#146;s employment with the Company. The covenants for
Dr. Zandman are intended to continue in force for the longest period allowed by
law. The non-disparagement and confidentiality covenants have no specified term.
While the payments and benefits to the executives are made in consideration of
the executives&#146; compliance with these covenants, there are no specific
forfeiture provisions in the employment contracts for a breach of the covenants.
</FONT></P>
<P align=center><B><FONT face=serif size=2>REPORT OF THE COMPENSATION COMMITTEE
</FONT></B></P>
<P align=justify><FONT face=serif size=2>To Our Stockholders: </FONT></P>
<P align=justify><FONT face=serif size=2>We have reviewed and discussed with
management the Compensation Discussion and Analysis. Based on that review and
discussion, we have recommended to the Board of Directors that the Compensation
Discussion and Analysis be included in this proxy statement. </FONT></P>
<P align=justify><FONT face=serif size=2>Respectfully submitted, </FONT></P>
<P align=justify><FONT face=serif size=2>The Compensation Committee of the Board
of Directors </FONT></P>
<P align=justify><FONT face=serif size=2>Zvi Grinfas, Chairman<BR>Dr. Abraham
Ludomirski<BR>Thomas C. Wertheimer</FONT></P>
<P align=center><FONT face=serif size=2>30 </FONT></P>
<HR align=center width="100%" noShade SIZE=2>
<PAGE>
<P align=center><B><FONT face=serif size=2>COMPENSATION</FONT></B><B><FONT face=serif size=2> </FONT></B><B><FONT face=serif size=2>TABLES</FONT></B><FONT face=serif size=2> </FONT></P>
<P align=left><STRONG><FONT face=serif size=2>Summary</FONT><FONT face=serif size=2> </FONT><FONT face=serif size=2>Compensation</FONT></STRONG><FONT face=serif size=2><STRONG> Table</STRONG> </FONT></P>
<P align=justify><FONT face=serif size=2>The following table summarizes
information regarding compensation earned, held by, or paid to our named
executive officers during 2008. The information included in the table should be
read in conjunction with the footnotes which follow, the descriptions of the
employment agreements with each named executive officer described in
&#147;Compensation Discussion and Analysis,&#148; and the &#147;Grants of Plan Based Awards,&#148;
&#147;Outstanding Equity Awards,&#148; &#147;Option Exercises and Stock Vested,&#148; &#147;Pension
Benefits,&#148; and &#147;Nonqualified Deferred Compensation&#148; tables on the pages which
follow:</FONT></P>
<TABLE style="FONT-SIZE: 10pt; LINE-HEIGHT: 14pt; BORDER-COLLAPSE: collapse" cellSpacing=0 cellPadding=0 width="100%" border=0>

  <TR vAlign=bottom>
    <TD noWrap align=center width="30%"></TD>
    <TD noWrap align=center width="1%"></TD>
    <TD noWrap align=center width="7%"></TD>
    <TD noWrap align=center width="1%"></TD>
    <TD noWrap align=center width="1%"></TD>
    <TD noWrap align=center width="6%"></TD>
    <TD noWrap align=center width="1%"></TD>
    <TD noWrap align=center width="6%"></TD>
    <TD noWrap align=center width="1%"></TD>
    <TD noWrap align=center width="1%"></TD>
    <TD noWrap align=center width="6%"></TD>
    <TD noWrap align=center width="1%"></TD>
    <TD noWrap align=center width="1%"></TD>
    <TD noWrap align=center width="6%"></TD>
    <TD noWrap align=center width="1%"></TD>
    <TD noWrap align=center width="1%"></TD>
    <TD noWrap align=center width="6%"></TD>
    <TD noWrap align=center width="1%"></TD>
    <TD noWrap align=center width="8%"><B><FONT face=serif size=1>Change
      in</FONT></B></TD>
    <TD noWrap align=center width="1%"></TD>
    <TD noWrap align=center width="7%"></TD>
    <TD noWrap align=center width="1%"></TD>
    <TD noWrap align=center width="5%"></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=center width="30%"></TD>
    <TD noWrap align=center width="1%"></TD>
    <TD noWrap align=center width="7%"></TD>
    <TD noWrap align=center width="1%"></TD>
    <TD noWrap align=center width="1%"></TD>
    <TD noWrap align=center width="6%"></TD>
    <TD noWrap align=center width="1%"></TD>
    <TD noWrap align=center width="6%"></TD>
    <TD noWrap align=center width="1%"></TD>
    <TD noWrap align=center width="1%"></TD>
    <TD noWrap align=center width="6%"></TD>
    <TD noWrap align=center width="1%"></TD>
    <TD noWrap align=center width="1%"></TD>
    <TD noWrap align=center width="6%"></TD>
    <TD noWrap align=center width="1%"></TD>
    <TD noWrap align=center width="1%"></TD>
    <TD noWrap align=center width="6%"></TD>
    <TD noWrap align=center width="1%"></TD>
    <TD noWrap align=center width="8%"><B><FONT face=serif size=1>Pension</FONT></B></TD>
    <TD noWrap align=center width="1%"></TD>
    <TD noWrap align=center width="7%"></TD>
    <TD noWrap align=center width="1%"></TD>
    <TD noWrap align=center width="5%"></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=center width="30%"></TD>
    <TD noWrap align=center width="1%"></TD>
    <TD noWrap align=center width="7%"></TD>
    <TD noWrap align=center width="1%"></TD>
    <TD noWrap align=center width="1%"></TD>
    <TD noWrap align=center width="6%"></TD>
    <TD noWrap align=center width="1%"></TD>
    <TD noWrap align=center width="6%"></TD>
    <TD noWrap align=center width="1%"></TD>
    <TD noWrap align=center width="1%"></TD>
    <TD noWrap align=center width="6%"></TD>
    <TD noWrap align=center width="1%"></TD>
    <TD noWrap align=center width="1%"></TD>
    <TD noWrap align=center width="6%"></TD>
    <TD noWrap align=center width="1%"></TD>
    <TD noWrap align=center width="1%"></TD>
    <TD noWrap align=center width="6%"></TD>
    <TD noWrap align=center width="1%"></TD>
    <TD noWrap align=center width="8%"><B><FONT face=serif size=1>Value
      and</FONT></B></TD>
    <TD noWrap align=center width="1%"></TD>
    <TD noWrap align=center width="7%"></TD>
    <TD noWrap align=center width="1%"></TD>
    <TD noWrap align=center width="5%"></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=center width="30%"></TD>
    <TD noWrap align=center width="1%"></TD>
    <TD noWrap align=center width="7%"></TD>
    <TD noWrap align=center width="1%"></TD>
    <TD noWrap align=center width="1%"></TD>
    <TD noWrap align=center width="6%"></TD>
    <TD noWrap align=center width="1%"></TD>
    <TD noWrap align=center width="6%"></TD>
    <TD noWrap align=center width="1%"></TD>
    <TD noWrap align=center width="1%"></TD>
    <TD noWrap align=center width="6%"></TD>
    <TD noWrap align=center width="1%"></TD>
    <TD noWrap align=center width="1%"></TD>
    <TD noWrap align=center width="6%"></TD>
    <TD noWrap align=center width="1%"></TD>
    <TD noWrap align=center width="7%" colSpan=2><B><FONT face=serif size=1>Non-Equity</FONT></B></TD>
    <TD noWrap align=center width="1%"></TD>
    <TD noWrap align=center width="8%"><B><FONT face=serif size=1>Non-qualified</FONT></B></TD>
    <TD noWrap align=center width="1%"></TD>
    <TD noWrap align=center width="7%"></TD>
    <TD noWrap align=center width="1%"></TD>
    <TD noWrap align=center width="5%"></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=center width="30%"></TD>
    <TD noWrap align=center width="1%"></TD>
    <TD noWrap align=center width="7%"></TD>
    <TD noWrap align=center width="1%"></TD>
    <TD noWrap align=center width="1%"></TD>
    <TD noWrap align=center width="6%"></TD>
    <TD noWrap align=center width="1%"></TD>
    <TD noWrap align=center width="6%"></TD>
    <TD noWrap align=center width="1%"></TD>
    <TD noWrap align=center width="1%"></TD>
    <TD noWrap align=center width="6%"></TD>
    <TD noWrap align=center width="1%"></TD>
    <TD noWrap align=center width="7%" colSpan=2><B><FONT face=serif size=1>Options</FONT></B></TD>
    <TD noWrap align=center width="1%"></TD>
    <TD noWrap align=center width="7%" colSpan=2><B><FONT face=serif size=1>Incentive</FONT></B></TD>
    <TD noWrap align=center width="1%"></TD>
    <TD noWrap align=center width="8%"><B><FONT face=serif size=1>Deferred
      Comp.</FONT></B></TD>
    <TD noWrap align=center width="1%"></TD>
    <TD noWrap align=center width="7%"><B><FONT face=serif size=1>All
      Other</FONT></B></TD>
    <TD noWrap align=center width="1%"></TD>
    <TD noWrap align=center width="5%"></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=center width="30%"></TD>
    <TD noWrap align=center width="1%"></TD>
    <TD noWrap align=center width="7%"></TD>
    <TD noWrap align=center width="1%"></TD>
    <TD noWrap align=center width="7%" colSpan=2><B><FONT face=serif size=1>Salary</FONT></B></TD>
    <TD noWrap align=center width="1%"></TD>
    <TD noWrap align=center width="6%"><B><FONT face=serif size=1>Bonus</FONT></B></TD>
    <TD noWrap align=center width="1%"></TD>
    <TD noWrap align=center width="7%" colSpan=2><B><FONT face=serif size=1>Stock Awards</FONT></B></TD>
    <TD noWrap align=center width="1%"></TD>
    <TD noWrap align=center width="7%" colSpan=2><B><FONT face=serif size=1>Awards</FONT></B></TD>
    <TD noWrap align=center width="1%"></TD>
    <TD noWrap align=center width="7%" colSpan=2><B><FONT face=serif size=1>Plan Comp.</FONT></B></TD>
    <TD noWrap align=center width="1%"></TD>
    <TD noWrap align=center width="8%"><B><FONT face=serif size=1>Earnings</FONT></B></TD>
    <TD noWrap align=center width="1%"></TD>
    <TD noWrap align=center width="7%"><B><FONT face=serif size=1>Comp.</FONT></B></TD>
    <TD noWrap align=center width="1%"></TD>
    <TD noWrap align=center width="5%"></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=center width="30%"></TD>
    <TD noWrap align=center width="1%"></TD>
    <TD noWrap align=center width="7%"></TD>
    <TD noWrap align=center width="1%"></TD>
    <TD noWrap align=center width="7%" colSpan=2><B><FONT face=serif size=1>(1)</FONT></B></TD>
    <TD noWrap align=center width="1%">&nbsp; </TD>
    <TD noWrap align=center width="6%"><B><FONT face=serif size=1>(2)</FONT></B></TD>
    <TD noWrap align=center width="1%"></TD>
    <TD noWrap align=center width="7%" colSpan=2><B><FONT face=serif size=1>(3)</FONT></B></TD>
    <TD noWrap align=center width="1%">&nbsp; </TD>
    <TD noWrap align=center width="7%" colSpan=2><B><FONT face=serif size=1>(4)</FONT></B></TD>
    <TD noWrap align=center width="1%">&nbsp; </TD>
    <TD noWrap align=center width="7%" colSpan=2><B><FONT face=serif size=1>(2)</FONT></B></TD>
    <TD noWrap align=center width="1%">&nbsp; </TD>
    <TD noWrap align=center width="8%"><B><FONT face=serif size=1>(5)
      (6)</FONT></B></TD>
    <TD noWrap align=center width="1%">&nbsp; </TD>
    <TD noWrap align=center width="7%"><B><FONT face=serif size=1>(7)</FONT></B></TD>
    <TD noWrap align=center width="1%">&nbsp; </TD>
    <TD noWrap align=center width="5%"><B><FONT face=serif size=1>Total</FONT></B></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=center width="30%"><B><FONT face=serif size=1>Name and
      Principal Position</FONT></B></TD>
    <TD noWrap align=center width="1%"></TD>
    <TD noWrap align=center width="7%"><B><FONT face=serif size=1>Year</FONT></B></TD>
    <TD noWrap align=center width="1%"></TD>
    <TD noWrap align=center width="7%" colSpan=2><B><FONT face=serif size=1>($)</FONT></B></TD>
    <TD noWrap align=center width="1%"></TD>
    <TD noWrap align=center width="6%"><B><FONT face=serif size=1>($)</FONT></B></TD>
    <TD noWrap align=center width="1%"></TD>
    <TD noWrap align=center width="7%" colSpan=2><B><FONT face=serif size=1>($)</FONT></B></TD>
    <TD noWrap align=center width="1%"></TD>
    <TD noWrap align=center width="7%" colSpan=2><B><FONT face=serif size=1>($)</FONT></B></TD>
    <TD noWrap align=center width="1%"></TD>
    <TD noWrap align=center width="7%" colSpan=2><B><FONT face=serif size=1>($)</FONT></B></TD>
    <TD noWrap align=center width="1%"></TD>
    <TD noWrap align=center width="8%"><B><FONT face=serif size=1>($)</FONT></B></TD>
    <TD noWrap align=center width="1%"></TD>
    <TD noWrap align=center width="7%"><B><FONT face=serif size=1>($)</FONT></B></TD>
    <TD noWrap align=center width="1%"></TD>
    <TD noWrap align=center width="5%"><B><FONT face=serif size=1>($)</FONT></B></TD></TR>
  <TR vAlign=bottom>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="30%"><B><FONT face=serif size=1>(a)</FONT></B></TD>
    <TD noWrap align=center width="1%">&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="7%"><B><FONT face=serif size=1>(b)</FONT></B></TD>
    <TD noWrap align=center width="1%">&nbsp;&nbsp;&nbsp;&nbsp; </TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="7%" colSpan=2><B><FONT face=serif size=1>(c)</FONT></B></TD>
    <TD noWrap align=center width="1%">&nbsp;&nbsp;&nbsp;&nbsp; </TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="6%"><B><FONT face=serif size=1>(d)</FONT></B></TD>
    <TD noWrap align=center width="1%">&nbsp;&nbsp;&nbsp;&nbsp; </TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="7%" colSpan=2><B><FONT face=serif size=1>(e)</FONT></B></TD>
    <TD noWrap align=center width="1%">&nbsp;&nbsp;&nbsp;&nbsp; </TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="7%" colSpan=2><B><FONT face=serif size=1>(f)</FONT></B></TD>
    <TD noWrap align=center width="1%">&nbsp;&nbsp;&nbsp;&nbsp; </TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="7%" colSpan=2><B><FONT face=serif size=1>(g)</FONT></B></TD>
    <TD noWrap align=center width="1%">&nbsp;&nbsp;&nbsp;&nbsp; </TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="8%"><B><FONT face=serif size=1>(h)</FONT></B></TD>
    <TD noWrap align=center width="1%">&nbsp;&nbsp;&nbsp;&nbsp; </TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="7%"><B><FONT face=serif size=1>(i)</FONT></B></TD>
    <TD noWrap align=center width="1%">&nbsp;&nbsp;&nbsp;&nbsp; </TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="5%"><B><FONT face=serif size=1>(j)</FONT></B></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="30%" bgColor=#c0c0c0><FONT face=serif size=1>Dr. Felix Zandman</FONT></TD>
    <TD noWrap align=center width="1%" bgColor=#c0c0c0>&nbsp;</TD>
    <TD noWrap align=center width="7%" bgColor=#c0c0c0><FONT face=serif size=1>2008</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0>&nbsp;</TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0><FONT face=serif size=1>$</FONT></TD>
    <TD noWrap align=right width="6%" bgColor=#c0c0c0><FONT face=serif size=1>975,000</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=right width="6%" bgColor=#c0c0c0><FONT face=serif size=1>&#151;</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0><FONT face=serif size=1>$</FONT></TD>
    <TD align=right width="6%" bgColor=#c0c0c0><FONT face=serif size=1>379,655</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0><FONT face=serif size=1>$</FONT></TD>
    <TD align=right width="6%" bgColor=#c0c0c0><FONT face=serif size=1>643,542</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0><FONT face=serif size=1>$</FONT></TD>
    <TD align=right width="6%" bgColor=#c0c0c0><FONT face=serif size=1>2,925,000</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=right width="8%" bgColor=#c0c0c0><FONT face=serif size=1>&#151;</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=right width="7%" bgColor=#c0c0c0><FONT face=serif size=1>199,607</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=right width="5%" bgColor=#c0c0c0><FONT face=serif size=1>5,122,804</FONT></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="30%" bgColor=#c0c0c0><FONT face=serif size=1>Executive Chairman of the Board and</FONT></TD>
    <TD noWrap align=center width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=center width="7%" bgColor=#c0c0c0><FONT face=serif size=1>2007</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=right width="6%" bgColor=#c0c0c0><FONT face=serif size=1>975,000</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=right width="6%" bgColor=#c0c0c0><FONT face=serif size=1>&#151;</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0>&nbsp;</TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0>&nbsp;</TD>
    <TD noWrap align=right width="6%" bgColor=#c0c0c0><FONT face=serif size=1>68,750</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=right width="6%" bgColor=#c0c0c0><FONT face=serif size=1>505,306</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=right width="6%" bgColor=#c0c0c0><FONT face=serif size=1>2,925,000</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=right width="8%" bgColor=#c0c0c0><FONT face=serif size=1>&#151;</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=right width="7%" bgColor=#c0c0c0><FONT face=serif size=1>196,452</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=right width="5%" bgColor=#c0c0c0><FONT face=serif size=1>4,670,508</FONT></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="30%" bgColor=#c0c0c0><FONT face=serif size=1>Chief Technical and Business</FONT></TD>
    <TD noWrap align=center width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=center width="7%" bgColor=#c0c0c0><FONT face=serif size=1>2006</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0>&nbsp;</TD>
    <TD noWrap align=right width="6%" bgColor=#c0c0c0><FONT face=serif size=1>975,000</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0>&nbsp;</TD>
    <TD noWrap align=right width="6%" bgColor=#c0c0c0><FONT face=serif size=1>&#151;</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=right width="6%" bgColor=#c0c0c0><FONT face=serif size=1>69,550</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0>&nbsp;</TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=right width="6%" bgColor=#c0c0c0><FONT face=serif size=1>8,229</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=right width="6%" bgColor=#c0c0c0><FONT face=serif size=1>2,925,000</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=right width="8%" bgColor=#c0c0c0><FONT face=serif size=1>&#151;</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=right width="7%" bgColor=#c0c0c0><FONT face=serif size=1>202,821</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=right width="5%" bgColor=#c0c0c0><FONT face=serif size=1>4,180,600</FONT></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="30%" bgColor=#c0c0c0><FONT face=serif size=1>Development Officer</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="7%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="6%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="6%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="6%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="6%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="6%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="8%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="7%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="5%" bgColor=#c0c0c0></TD></TR>
  <TR>
    <TD width="100%" colSpan=23>&nbsp; </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="30%" bgColor=#c0c0c0><FONT face=serif size=1>Dr. Gerald Paul</FONT></TD>
    <TD noWrap align=center width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=center width="7%" bgColor=#c0c0c0><FONT face=serif size=1>2008</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=right width="6%" bgColor=#c0c0c0><FONT face=serif size=1>1,103,939</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=right width="6%" bgColor=#c0c0c0><FONT face=serif size=1>&#151;</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=right width="6%" bgColor=#c0c0c0><FONT face=serif size=1>272,133</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0>&nbsp;</TD>
    <TD noWrap align=right width="6%" bgColor=#c0c0c0><FONT face=serif size=1>429,030</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0>&nbsp;</TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=right width="6%" bgColor=#c0c0c0><FONT face=serif size=1>991,889</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=right width="8%" bgColor=#c0c0c0><FONT face=serif size=1>163,548</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=right width="7%" bgColor=#c0c0c0><FONT face=serif size=1>137,500</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=right width="5%" bgColor=#c0c0c0><FONT face=serif size=1>3,098,039</FONT></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="30%" bgColor=#c0c0c0><FONT face=serif size=1>President and Chief Executive Officer <SUP>(8)</SUP></FONT></TD>
    <TD noWrap align=center width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=center width="7%" bgColor=#c0c0c0><FONT face=serif size=1>2007</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=right width="6%" bgColor=#c0c0c0><FONT face=serif size=1>961,105</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=right width="6%" bgColor=#c0c0c0><FONT face=serif size=1>&#151;</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=right width="6%" bgColor=#c0c0c0><FONT face=serif size=1>68,750</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=right width="6%" bgColor=#c0c0c0><FONT face=serif size=1>336,874</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=right width="6%" bgColor=#c0c0c0><FONT face=serif size=1>1,814,948</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=right width="8%" bgColor=#c0c0c0><FONT face=serif size=1>214,651</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=right width="7%" bgColor=#c0c0c0><FONT face=serif size=1>137,500</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=right width="5%" bgColor=#c0c0c0><FONT face=serif size=1>3,533,828</FONT></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="30%" bgColor=#c0c0c0></TD>
    <TD noWrap align=center width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=center width="7%" bgColor=#c0c0c0><FONT face=serif size=1>2006</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=right width="6%" bgColor=#c0c0c0><FONT face=serif size=1>830,000</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=right width="6%" bgColor=#c0c0c0><FONT face=serif size=1>&#151;</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=right width="6%" bgColor=#c0c0c0><FONT face=serif size=1>69,550</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=right width="6%" bgColor=#c0c0c0><FONT face=serif size=1>5,486</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=right width="6%" bgColor=#c0c0c0><FONT face=serif size=1>1,965,788</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=right width="8%" bgColor=#c0c0c0><FONT face=serif size=1>186,095</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=right width="7%" bgColor=#c0c0c0><FONT face=serif size=1>137,500</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=right width="5%" bgColor=#c0c0c0><FONT face=serif size=1>3,194,419</FONT></TD></TR>
  <TR>
    <TD width="100%" colSpan=23>&nbsp; </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="30%" bgColor=#c0c0c0><FONT face=serif size=1>Dr. Lior Yahalomi</FONT></TD>
    <TD noWrap align=center width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=center width="7%" bgColor=#c0c0c0><FONT face=serif size=1>2008</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=right width="6%" bgColor=#c0c0c0><FONT face=serif size=1>295,144</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=right width="6%" bgColor=#c0c0c0><FONT face=serif size=1>&#151;</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=right width="6%" bgColor=#c0c0c0><FONT face=serif size=1>&#151;</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=right width="6%" bgColor=#c0c0c0><FONT face=serif size=1>118,327</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=right width="6%" bgColor=#c0c0c0><FONT face=serif size=1>45,313</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=right width="8%" bgColor=#c0c0c0><FONT face=serif size=1>19,048</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=right width="7%" bgColor=#c0c0c0><FONT face=serif size=1>14,156</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=right width="5%" bgColor=#c0c0c0><FONT face=serif size=1>491,988</FONT></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="30%" bgColor=#c0c0c0><FONT face=serif size=1>Executive Vice President and Chief</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="7%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="6%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="6%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="6%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="6%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="6%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="8%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="7%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="5%" bgColor=#c0c0c0></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="30%" bgColor=#c0c0c0><FONT face=serif size=1>Financial Officer <SUP>(9)</SUP></FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="7%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="6%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="6%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="6%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="6%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="6%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="8%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="7%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="5%" bgColor=#c0c0c0></TD></TR>
  <TR>
    <TD width="100%" colSpan=23>&nbsp; </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="30%" bgColor=#c0c0c0><FONT face=serif size=1>Richard Grubb</FONT></TD>
    <TD noWrap align=center width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=center width="7%" bgColor=#c0c0c0><FONT face=serif size=1>2008</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=right width="6%" bgColor=#c0c0c0><FONT face=serif size=1>323,333</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=right width="6%" bgColor=#c0c0c0><FONT face=serif size=1>&#151;</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=right width="6%" bgColor=#c0c0c0><FONT face=serif size=1>103,200</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=right width="6%" bgColor=#c0c0c0><FONT face=serif size=1>(66,788</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0><FONT face=serif size=1>)</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=right width="6%" bgColor=#c0c0c0><FONT face=serif size=1>991,889</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=right width="8%" bgColor=#c0c0c0><FONT face=serif size=1>142,839</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=right width="7%" bgColor=#c0c0c0><FONT face=serif size=1>1,866,805</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=right width="5%" bgColor=#c0c0c0><FONT face=serif size=1>3,361,278</FONT></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="30%" bgColor=#c0c0c0><FONT face=serif size=1>Former Executive Vice President and Chief</FONT></TD>
    <TD noWrap align=center width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=center width="7%" bgColor=#c0c0c0><FONT face=serif size=1>2007</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=right width="6%" bgColor=#c0c0c0><FONT face=serif size=1>468,000</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=right width="6%" bgColor=#c0c0c0><FONT face=serif size=1>&#151;</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=right width="6%" bgColor=#c0c0c0><FONT face=serif size=1>68,750</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=right width="6%" bgColor=#c0c0c0><FONT face=serif size=1>168,438</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=right width="6%" bgColor=#c0c0c0><FONT face=serif size=1>1,404,000</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=right width="8%" bgColor=#c0c0c0><FONT face=serif size=1>69,578</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=right width="7%" bgColor=#c0c0c0><FONT face=serif size=1>132,884</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=right width="5%" bgColor=#c0c0c0><FONT face=serif size=1>2,311,650</FONT></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="30%" bgColor=#c0c0c0><FONT face=serif size=1>Financial Officer <SUP>(10)</SUP></FONT></TD>
    <TD noWrap align=center width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=center width="7%" bgColor=#c0c0c0><FONT face=serif size=1>2006</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=right width="6%" bgColor=#c0c0c0><FONT face=serif size=1>450,000</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=right width="6%" bgColor=#c0c0c0><FONT face=serif size=1>&#151;</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=right width="6%" bgColor=#c0c0c0><FONT face=serif size=1>69,550</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=right width="6%" bgColor=#c0c0c0><FONT face=serif size=1>5,486</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=right width="6%" bgColor=#c0c0c0><FONT face=serif size=1>1,350,000</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=right width="8%" bgColor=#c0c0c0><FONT face=serif size=1>76,077</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=right width="7%" bgColor=#c0c0c0><FONT face=serif size=1>129,570</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=right width="5%" bgColor=#c0c0c0><FONT face=serif size=1>2,080,683</FONT></TD></TR>
  <TR>
    <TD width="100%" colSpan=23>&nbsp; </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="30%" bgColor=#c0c0c0><FONT face=serif size=1>Marc Zandman</FONT></TD>
    <TD noWrap align=center width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=center width="7%" bgColor=#c0c0c0><FONT face=serif size=1>2008</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=right width="6%" bgColor=#c0c0c0><FONT face=serif size=1>396,594</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=right width="6%" bgColor=#c0c0c0><FONT face=serif size=1>&#151;</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=right width="6%" bgColor=#c0c0c0><FONT face=serif size=1>57,100</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=right width="6%" bgColor=#c0c0c0><FONT face=serif size=1>54,759</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=right width="6%" bgColor=#c0c0c0><FONT face=serif size=1>90,225</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=right width="8%" bgColor=#c0c0c0><FONT face=serif size=1>5,323</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=right width="7%" bgColor=#c0c0c0><FONT face=serif size=1>303,162</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=right width="5%" bgColor=#c0c0c0><FONT face=serif size=1>907,163</FONT></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="30%" bgColor=#c0c0c0><FONT face=serif size=1>Vice Chairman of the Board, Chief</FONT></TD>
    <TD noWrap align=center width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=center width="7%" bgColor=#c0c0c0><FONT face=serif size=1>2007</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=right width="6%" bgColor=#c0c0c0><FONT face=serif size=1>333,704</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=right width="6%" bgColor=#c0c0c0><FONT face=serif size=1>&#151;</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=right width="6%" bgColor=#c0c0c0><FONT face=serif size=1>68,750</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=right width="6%" bgColor=#c0c0c0><FONT face=serif size=1>66,586</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=right width="6%" bgColor=#c0c0c0><FONT face=serif size=1>101,780</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=right width="8%" bgColor=#c0c0c0><FONT face=serif size=1>&#151;</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=right width="7%" bgColor=#c0c0c0><FONT face=serif size=1>219,385</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=right width="5%" bgColor=#c0c0c0><FONT face=serif size=1>790,205</FONT></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="30%" bgColor=#c0c0c0><FONT face=serif size=1>Administration Officer, and President -</FONT></TD>
    <TD noWrap align=center width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=center width="7%" bgColor=#c0c0c0><FONT face=serif size=1>2006</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=right width="6%" bgColor=#c0c0c0><FONT face=serif size=1>240,000</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=right width="6%" bgColor=#c0c0c0><FONT face=serif size=1>&#151;</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=right width="6%" bgColor=#c0c0c0><FONT face=serif size=1>69,550</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=right width="6%" bgColor=#c0c0c0><FONT face=serif size=1>3,657</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=right width="6%" bgColor=#c0c0c0><FONT face=serif size=1>115,705</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=right width="8%" bgColor=#c0c0c0><FONT face=serif size=1>1,494</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=right width="7%" bgColor=#c0c0c0><FONT face=serif size=1>174,117</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=right width="5%" bgColor=#c0c0c0><FONT face=serif size=1>604,523</FONT></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="30%" bgColor=#c0c0c0><FONT face=serif size=1>Vishay Israel Ltd. <SUP>(11)</SUP></FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="7%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="6%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="6%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="6%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="6%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="6%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="8%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="7%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="5%" bgColor=#c0c0c0></TD></TR>
  <TR>
    <TD width="100%" colSpan=23>&nbsp; </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="30%" bgColor=#c0c0c0><FONT face=serif size=1>Ziv Shoshani</FONT></TD>
    <TD noWrap align=center width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=center width="7%" bgColor=#c0c0c0><FONT face=serif size=1>2008</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=right width="6%" bgColor=#c0c0c0><FONT face=serif size=1>334,819</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=right width="6%" bgColor=#c0c0c0><FONT face=serif size=1>&#151;</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=right width="6%" bgColor=#c0c0c0><FONT face=serif size=1>57,100</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=right width="6%" bgColor=#c0c0c0><FONT face=serif size=1>54,759</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=right width="6%" bgColor=#c0c0c0><FONT face=serif size=1>39,341</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=right width="8%" bgColor=#c0c0c0><FONT face=serif size=1>3,664</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=right width="7%" bgColor=#c0c0c0><FONT face=serif size=1>297,824</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=right width="5%" bgColor=#c0c0c0><FONT face=serif size=1>787,507</FONT></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="30%" bgColor=#c0c0c0><FONT face=serif size=1>Executive Vice President and Chief</FONT></TD>
    <TD noWrap align=center width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=center width="7%" bgColor=#c0c0c0><FONT face=serif size=1>2007</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=right width="6%" bgColor=#c0c0c0><FONT face=serif size=1>281,724</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=right width="6%" bgColor=#c0c0c0><FONT face=serif size=1>&#151;</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=right width="6%" bgColor=#c0c0c0><FONT face=serif size=1>68,750</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=right width="6%" bgColor=#c0c0c0><FONT face=serif size=1>66,586</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=right width="6%" bgColor=#c0c0c0><FONT face=serif size=1>69,586</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=right width="8%" bgColor=#c0c0c0><FONT face=serif size=1>&#151;</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=right width="7%" bgColor=#c0c0c0><FONT face=serif size=1>206,563</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=right width="5%" bgColor=#c0c0c0><FONT face=serif size=1>693,209</FONT></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="30%" bgColor=#c0c0c0><FONT face=serif size=1>Operating Officer <SUP>(12)</SUP></FONT></TD>
    <TD noWrap align=center width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=center width="7%" bgColor=#c0c0c0><FONT face=serif size=1>2006</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=right width="6%" bgColor=#c0c0c0><FONT face=serif size=1>205,000</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=right width="6%" bgColor=#c0c0c0><FONT face=serif size=1>&#151;</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=right width="6%" bgColor=#c0c0c0><FONT face=serif size=1>69,550</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=right width="6%" bgColor=#c0c0c0><FONT face=serif size=1>3,657</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=right width="6%" bgColor=#c0c0c0><FONT face=serif size=1>83,921</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=right width="8%" bgColor=#c0c0c0><FONT face=serif size=1>1,545</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=right width="7%" bgColor=#c0c0c0><FONT face=serif size=1>160,343</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=right width="5%" bgColor=#c0c0c0><FONT face=serif size=1>524,016</FONT></TD></TR></TABLE>
<P align=center><FONT face=serif size=2>31</FONT></P>
<HR align=center width="100%" noShade SIZE=2>
<PAGE>____________________<BR><BR>
<TABLE style="TEXT-ALIGN: justify" cellSpacing=0 cellPadding=0 border=0>

  <TR>
    <TD vAlign=top noWrap><FONT face=serif size=2>(1)</FONT></TD>
    <TD vAlign=top noWrap>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </TD>
    <TD vAlign=top width="100%"><FONT face=serif size=2>Column (c) reflects
      base salary earned during the respective years and, for Drs. Zandman and
      Yahalomi and Mr. Grubb, includes amounts deferred in accordance with the
      provisions of our 401(k) plan. Dr. Paul&#146;s employment agreement specifies
      that his salary be denominated and paid in euro. The employment agreements
      for Messrs. Zandman and Shoshani provide for their salaries to be
      denominated in U.S. dollars, but the Company subsequently agreed with the
      executives to denominate their salaries in Israeli shekels. The amounts
      presented above have been converted into U.S. dollars at the weighted
      average exchange rate for the year.</FONT></TD></TR>
  <TR>
    <TD vAlign=top noWrap></TD>
    <TD vAlign=top noWrap></TD>
    <TD vAlign=top width="100%">&nbsp; </TD></TR>
  <TR>
    <TD vAlign=top noWrap><FONT size=2>(2)</FONT></TD>
    <TD vAlign=top noWrap></TD>
    <TD vAlign=top width="100%"><FONT face=serif size=2>Bonuses for the named
      executive officers are considered non-equity incentive compensation and
      are included in Column (g). Dr. Zandman&#146;s bonus was based on a formula of
      3.0% of Adjusted Net Income, and bonuses for Dr. Paul and Mr. Grubb were
      based on a formula of 1.0% of Adjusted Net Income. Bonuses under Vishay&#146;s
      162(m) Plan are capped at three times base salary. The bonuses of Dr.
      Paul, Mr. Zandman, and Mr. Shoshani are paid in foreign currency (euro,
      Israeli shekel, and Israeli shekel, respectively) and are reflected in the
      table at the weighted average exchange rate for the year.</FONT></TD></TR>
  <TR>
    <TD vAlign=top noWrap></TD>
    <TD vAlign=top noWrap></TD>
    <TD vAlign=top width="100%">&nbsp; </TD></TR>
  <TR>
    <TD vAlign=top noWrap><FONT size=2>(3)</FONT></TD>
    <TD vAlign=top noWrap></TD>
    <TD vAlign=top width="100%"><FONT size=2>Column (e) represents the
      grant-date fair value of 5,000 phantom stock units awarded annually to
      certain named executive officers pursuant to the terms of their employment
      agreements. The common stock underlying these awards is not received until
      termination of employment, and accordingly, there can be no assurance that
      the grant-date fair value of these awards will ever be realized. Column
      (e) also includes the amount recognized as an expense by Vishay for
      financial statement purposes with respect to restricted stock units held
      by certain named executives, and does not reflect the value of shares
      actually received or which may be received in the future with respect to
      such restricted stock units. <FONT face=serif>The amounts are based on the
      grant-date fair value and are recognized over the vesting periods of the
      respective awards. No amounts are included for performance based
      restricted stock units for which performance objectives were not
      achieved.</FONT></FONT></TD></TR>
  <TR>
    <TD vAlign=top noWrap></TD>
    <TD vAlign=top noWrap></TD>
    <TD vAlign=top width="100%">&nbsp; </TD></TR>
  <TR>
    <TD vAlign=top noWrap><FONT size=2>(4)</FONT></TD>
    <TD vAlign=top noWrap></TD>
    <TD vAlign=top width="100%"><FONT size=2>Column (f) represents the amount
      recognized as an expense by Vishay for financial statement reporting
      purposes with respect to stock options held by the named executive
      officers during 2006, 2007, and 2008 and does not reflect the value of
      shares actually received or which may be received in the future with
      respect to such stock options. The amounts are based on the grant-date
      fair value and are recognized over the vesting periods of the respective
      awards. There can be no assurance that the grant-date fair value of these
      awards will ever be realized. The assumptions used in computing the
      grant-date fair value are detailed in Note 12 to Vishay&#146;s consolidated
      financial statements for the year ended December 31, 2008, included in its
      Annual Report on Form 10-K. Column (f) includes a net benefit of $66,788
      recognized upon <FONT face=serif>Mr. Grubb&#146;s termination of employment due
      to the reversal of cumulative expenses recorded under SFAS No.123-R. The
      amounts realized in 2008 by named executive officers with respect to
      options exercised appears in Columns (b) and (c) of the &#147;Option Exercises
      and Stock Vested&#148; table.</FONT></FONT></TD></TR>
  <TR>
    <TD vAlign=top noWrap></TD>
    <TD vAlign=top noWrap></TD>
    <TD vAlign=top width="100%">&nbsp; </TD></TR>
  <TR>
    <TD vAlign=top noWrap><FONT size=2>(5)</FONT></TD>
    <TD vAlign=top noWrap></TD>
    <TD vAlign=top width="100%"><FONT size=2>Column (h) reflects the change in
      the actuarial present value of the named executive officer&#146;s pension and
      other post employment benefits under respective defined benefit retirement
      plans, from the plan measurement date used in preparing the prior year
      consolidated financial statements to the plan measurement date used in
      preparing the current year consolidated financial statements, determined
      using the same interest rate, mortality, and other actuarial assumptions
      used in our consolidated financial statements. For Dr. Paul, conversion of
      his euro-denominated pension benefit into <FONT face=serif>U.S. dollars
      had the impact of increasing the amount disclosed by $135,000 in 2006,
      $210,000 in 2007, and $145,933 in 2008. Column (h) does not include any
      amounts for the benefits payable to Dr. Zandman, because changes in
      actuarial assumptions reduced the present value of Dr. Zandman&#146;s
      accumulated benefit by $2,017,000 at December 31, 2006 compared to
      December 31, 2005, by $405,000 at December 31, 2007 compared to December
      31, 2006, and by $199,507 at December 31, 2008 compared to December 31,
      2007. See the &#147;Pension Benefits&#148; table for more information on the
      benefits payable to the named executive officers under their respective
      pension plans.</FONT></FONT></TD></TR>
  <TR>
    <TD vAlign=top noWrap></TD>
    <TD vAlign=top noWrap></TD>
    <TD vAlign=top width="100%">&nbsp; </TD></TR>
  <TR>
    <TD vAlign=top noWrap><FONT size=2>(6)</FONT></TD>
    <TD vAlign=top noWrap></TD>
    <TD vAlign=top width="100%"><FONT size=2>The named executive officers also
      participate in our nonqualified deferred compensation plan under which
      amounts deferred are credited with earnings based on the performance of
      notional investment options available under the plan. <FONT face=serif>No
      portion of the earnings credited during 2006, 2007, or 2008 was &#147;above
      market&#148; or &#147;preferential.&#148; Consequently, no deferred compensation plan
      earnings are included in the amounts reported in Column (h). See the
      &#147;Nonqualified Deferred Compensation&#148; table for more information on the
      benefits payable under the nonqualified deferred compensation
      plan.</FONT></FONT></TD></TR></TABLE>
<P align=center><FONT face=serif size=2>32 </FONT></P>
<HR align=center width="100%" noShade SIZE=2>
<PAGE><BR>
<TABLE style="TEXT-ALIGN: justify" cellSpacing=0 cellPadding=0 border=0>

  <TR>
    <TD vAlign=top noWrap><FONT face=serif size=2>(7)</FONT></TD>
    <TD vAlign=top noWrap>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </TD>
    <TD vAlign=top width="100%"><FONT face=serif size=2>All other compensation
      includes amounts deposited on behalf of each named executive officer into
      Vishay&#146;s nonqualified deferred compensation plan pursuant to the
      employment agreements with each named executive officer, personal use of
      company car, Company match on 401(k) contributions, benefits generally
      available to employees in Israel, and other perquisites, as described
      below (asterisk denotes amounts paid in foreign currency and translated at
      average exchange rates for the year):</FONT></TD></TR></TABLE><BR>
<DIV>
<TABLE style="FONT-SIZE: 10pt; LINE-HEIGHT: 14pt; BORDER-COLLAPSE: collapse" cellSpacing=0 cellPadding=0 width="95%" border=0>

  <TR vAlign=bottom>
    <TD noWrap align=left width="1%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
      &nbsp;&nbsp;&nbsp;&nbsp; </TD>
    <TD noWrap align=left width="29%"></TD>
    <TD noWrap align=left width="1%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="2%" colSpan=2><B><FONT face=serif size=2>2008</FONT></B></TD>
    <TD noWrap align=center width="1%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="5%" colSpan=2><B><FONT face=serif size=2>2007</FONT></B></TD>
    <TD noWrap align=center width="1%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="5%" colSpan=2><B><FONT face=serif size=2>2006</FONT></B></TD>
    <TD noWrap align=right width="1%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </TD>
    <TD noWrap align=left width="54%"></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="1%">&nbsp;</TD>
    <TD vAlign=top noWrap align=left width="29%" bgColor=#c0c0c0><FONT face=serif size=2>Dr. Felix Zandman</FONT></TD>
    <TD vAlign=top noWrap align=right width="1%" bgColor=#c0c0c0></TD>
    <TD vAlign=top noWrap align=right width="1%" bgColor=#c0c0c0><FONT face=serif size=2>$</FONT></TD>
    <TD vAlign=top noWrap align=right width="1%" bgColor=#c0c0c0><FONT face=serif size=2>147,735</FONT></TD>
    <TD vAlign=top noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD vAlign=top noWrap align=left width="1%" bgColor=#c0c0c0><FONT face=serif size=2>$</FONT></TD>
    <TD vAlign=top noWrap align=right width="4%" bgColor=#c0c0c0><FONT face=serif size=2>150,000</FONT></TD>
    <TD vAlign=top noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD vAlign=top noWrap align=left width="1%" bgColor=#c0c0c0><FONT face=serif size=2>$</FONT></TD>
    <TD vAlign=top noWrap align=right width="4%" bgColor=#c0c0c0><FONT face=serif size=2>150,000</FONT></TD>
    <TD vAlign=top noWrap align=right width="1%" bgColor=#c0c0c0></TD>
    <TD vAlign=top align=left width="54%" bgColor=#c0c0c0><FONT face=serif size=2>Company contribution to non-qualified deferred compensation
      plan</FONT></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="1%"></TD>
    <TD vAlign=top noWrap align=left width="29%" bgColor=#c0c0c0>&nbsp;</TD>
    <TD vAlign=top noWrap align=left width="1%" bgColor=#c0c0c0>&nbsp;</TD>
    <TD vAlign=top noWrap align=left width="1%" bgColor=#c0c0c0>&nbsp;</TD>
    <TD vAlign=top noWrap align=right width="1%" bgColor=#c0c0c0><FONT face=serif size=2>22,200</FONT></TD>
    <TD vAlign=top noWrap align=left width="1%" bgColor=#c0c0c0>&nbsp;</TD>
    <TD vAlign=top noWrap align=left width="1%" bgColor=#c0c0c0>&nbsp;</TD>
    <TD vAlign=top noWrap align=right width="4%" bgColor=#c0c0c0><FONT face=serif size=2>22,200</FONT></TD>
    <TD vAlign=top noWrap align=left width="1%" bgColor=#c0c0c0>&nbsp;</TD>
    <TD vAlign=top noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD vAlign=top noWrap align=right width="4%" bgColor=#c0c0c0><FONT face=serif size=2>22,200</FONT></TD>
    <TD vAlign=top noWrap align=right width="1%" bgColor=#c0c0c0></TD>
    <TD vAlign=top align=left width="54%" bgColor=#c0c0c0><FONT face=serif size=2>Personal use of Company car</FONT></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="1%"></TD>
    <TD vAlign=top noWrap align=left width="29%" bgColor=#c0c0c0></TD>
    <TD vAlign=top noWrap align=left width="1%" bgColor=#c0c0c0>&nbsp;</TD>
    <TD vAlign=top noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD vAlign=top noWrap align=right width="1%" bgColor=#c0c0c0><FONT face=serif size=2>4,600</FONT></TD>
    <TD vAlign=top noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD vAlign=top noWrap align=left width="1%" bgColor=#c0c0c0>&nbsp;</TD>
    <TD vAlign=top noWrap align=right width="4%" bgColor=#c0c0c0><FONT face=serif size=2>4,500</FONT></TD>
    <TD vAlign=top noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD vAlign=top noWrap align=left width="1%" bgColor=#c0c0c0>&nbsp;</TD>
    <TD vAlign=top noWrap align=right width="4%" bgColor=#c0c0c0><FONT face=serif size=2>4,200</FONT></TD>
    <TD vAlign=top noWrap align=right width="1%" bgColor=#c0c0c0>&nbsp;</TD>
    <TD vAlign=top align=left width="54%" bgColor=#c0c0c0><FONT face=serif size=2>Company match to 401(k) plan</FONT></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="1%"></TD>
    <TD vAlign=top noWrap align=left width="29%" bgColor=#c0c0c0></TD>
    <TD vAlign=top noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD vAlign=top noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD vAlign=top noWrap align=right width="1%" bgColor=#c0c0c0><FONT face=serif size=2>13,948</FONT></TD>
    <TD vAlign=top noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD vAlign=top noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD vAlign=top noWrap align=right width="4%" bgColor=#c0c0c0><FONT face=serif size=2>8,628</FONT></TD>
    <TD vAlign=top noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD vAlign=top noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD vAlign=top noWrap align=right width="4%" bgColor=#c0c0c0><FONT face=serif size=2>15,297</FONT></TD>
    <TD vAlign=top noWrap align=right width="1%" bgColor=#c0c0c0></TD>
    <TD vAlign=top align=left width="54%" bgColor=#c0c0c0><FONT face=serif size=2>Company-paid medical costs</FONT></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="1%"></TD>
    <TD vAlign=top noWrap align=left width="29%" bgColor=#c0c0c0></TD>
    <TD vAlign=top noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD vAlign=top noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD vAlign=top noWrap align=right width="1%" bgColor=#c0c0c0><FONT face=serif size=2>11,124</FONT></TD>
    <TD vAlign=top noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD vAlign=top noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD vAlign=top noWrap align=right width="4%" bgColor=#c0c0c0><FONT face=serif size=2>11,124</FONT></TD>
    <TD vAlign=top noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD vAlign=top noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD vAlign=top noWrap align=right width="4%" bgColor=#c0c0c0><FONT face=serif size=2>11,124</FONT></TD>
    <TD vAlign=top noWrap align=right width="1%" bgColor=#c0c0c0></TD>
    <TD vAlign=top align=left width="54%" bgColor=#c0c0c0><FONT face=serif size=2>Group Term Life imputed income</FONT></TD></TR>
  <TR>
    <TD width="1%"></TD>
    <TD vAlign=top width="99%" colSpan=12>&nbsp; </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="1%"></TD>
    <TD vAlign=top noWrap align=left width="29%" bgColor=#c0c0c0><FONT face=serif size=2>Dr. Gerald Paul</FONT></TD>
    <TD vAlign=top noWrap align=right width="1%" bgColor=#c0c0c0></TD>
    <TD vAlign=top noWrap align=right width="1%" bgColor=#c0c0c0><FONT face=serif size=2>$</FONT></TD>
    <TD vAlign=top noWrap align=right width="1%" bgColor=#c0c0c0><FONT face=serif size=2>100,000</FONT></TD>
    <TD vAlign=top noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD vAlign=top noWrap align=left width="1%" bgColor=#c0c0c0><FONT face=serif size=2>$</FONT></TD>
    <TD vAlign=top noWrap align=right width="4%" bgColor=#c0c0c0><FONT face=serif size=2>100,000</FONT></TD>
    <TD vAlign=top noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD vAlign=top noWrap align=left width="1%" bgColor=#c0c0c0><FONT face=serif size=2>$</FONT></TD>
    <TD vAlign=top noWrap align=right width="4%" bgColor=#c0c0c0><FONT face=serif size=2>100,000</FONT></TD>
    <TD vAlign=top noWrap align=right width="1%" bgColor=#c0c0c0></TD>
    <TD vAlign=top align=left width="54%" bgColor=#c0c0c0><FONT face=serif size=2>Company contribution to non-qualified deferred compensation
      plan</FONT></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="1%"></TD>
    <TD vAlign=top noWrap align=left width="29%" bgColor=#c0c0c0></TD>
    <TD vAlign=top noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD vAlign=top noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD vAlign=top noWrap align=right width="1%" bgColor=#c0c0c0><FONT face=serif size=2>37,500</FONT></TD>
    <TD vAlign=top noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD vAlign=top noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD vAlign=top noWrap align=right width="4%" bgColor=#c0c0c0><FONT face=serif size=2>37,500</FONT></TD>
    <TD vAlign=top noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD vAlign=top noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD vAlign=top noWrap align=right width="4%" bgColor=#c0c0c0><FONT face=serif size=2>37,500</FONT></TD>
    <TD vAlign=top noWrap align=right width="1%" bgColor=#c0c0c0></TD>
    <TD vAlign=top align=left width="54%" bgColor=#c0c0c0><FONT face=serif size=2>Personal use of Company car *</FONT></TD></TR>
  <TR>
    <TD width="1%"></TD>
    <TD vAlign=top width="99%" colSpan=12>&nbsp; </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="1%"></TD>
    <TD vAlign=top noWrap align=left width="29%" bgColor=#c0c0c0><FONT face=serif size=2>Dr. Lior Yahalomi</FONT></TD>
    <TD vAlign=top noWrap align=right width="1%" bgColor=#c0c0c0></TD>
    <TD vAlign=top noWrap align=right width="1%" bgColor=#c0c0c0><FONT face=serif size=2>$</FONT></TD>
    <TD vAlign=top noWrap align=right width="1%" bgColor=#c0c0c0><FONT face=serif size=2>859</FONT></TD>
    <TD vAlign=top noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD vAlign=top noWrap align=left width="1%" bgColor=#c0c0c0><FONT face=serif size=2>$</FONT></TD>
    <TD vAlign=top noWrap align=right width="4%" bgColor=#c0c0c0><FONT face=serif size=2>&#151;</FONT></TD>
    <TD vAlign=top noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD vAlign=top noWrap align=left width="1%" bgColor=#c0c0c0><FONT face=serif size=2>$</FONT></TD>
    <TD vAlign=top noWrap align=right width="4%" bgColor=#c0c0c0><FONT face=serif size=2>&#151;</FONT></TD>
    <TD vAlign=top noWrap align=right width="1%" bgColor=#c0c0c0></TD>
    <TD vAlign=top align=left width="54%" bgColor=#c0c0c0><FONT face=serif size=2>Company contribution to non-qualified deferred compensation
      plan</FONT></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="1%"></TD>
    <TD vAlign=top noWrap align=left width="29%" bgColor=#c0c0c0></TD>
    <TD vAlign=top noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD vAlign=top noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD vAlign=top noWrap align=right width="1%" bgColor=#c0c0c0><FONT face=serif size=2>7,455</FONT></TD>
    <TD vAlign=top noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD vAlign=top noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD vAlign=top noWrap align=right width="4%" bgColor=#c0c0c0><FONT face=serif size=2>&#151;</FONT></TD>
    <TD vAlign=top noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD vAlign=top noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD vAlign=top noWrap align=right width="4%" bgColor=#c0c0c0><FONT face=serif size=2>&#151;</FONT></TD>
    <TD vAlign=top noWrap align=right width="1%" bgColor=#c0c0c0></TD>
    <TD vAlign=top align=left width="54%" bgColor=#c0c0c0><FONT face=serif size=2>Personal use of Company car</FONT></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="1%"></TD>
    <TD vAlign=top noWrap align=left width="29%" bgColor=#c0c0c0></TD>
    <TD vAlign=top noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD vAlign=top noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD vAlign=top noWrap align=right width="1%" bgColor=#c0c0c0><FONT face=serif size=2>4,600</FONT></TD>
    <TD vAlign=top noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD vAlign=top noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD vAlign=top noWrap align=right width="4%" bgColor=#c0c0c0><FONT face=serif size=2>&#151;</FONT></TD>
    <TD vAlign=top noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD vAlign=top noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD vAlign=top noWrap align=right width="4%" bgColor=#c0c0c0><FONT face=serif size=2>&#151;</FONT></TD>
    <TD vAlign=top noWrap align=right width="1%" bgColor=#c0c0c0></TD>
    <TD vAlign=top align=left width="54%" bgColor=#c0c0c0><FONT face=serif size=2>Company match to 401(k) plan</FONT></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="1%"></TD>
    <TD vAlign=top noWrap align=left width="29%" bgColor=#c0c0c0></TD>
    <TD vAlign=top noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD vAlign=top noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD vAlign=top noWrap align=right width="1%" bgColor=#c0c0c0><FONT face=serif size=2>1,242</FONT></TD>
    <TD vAlign=top noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD vAlign=top noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD vAlign=top noWrap align=right width="4%" bgColor=#c0c0c0><FONT face=serif size=2>&#151;</FONT></TD>
    <TD vAlign=top noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD vAlign=top noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD vAlign=top noWrap align=right width="4%" bgColor=#c0c0c0><FONT face=serif size=2>&#151;</FONT></TD>
    <TD vAlign=top noWrap align=right width="1%" bgColor=#c0c0c0></TD>
    <TD vAlign=top align=left width="54%" bgColor=#c0c0c0><FONT face=serif size=2>Group Term Life imputed income</FONT></TD></TR>
  <TR>
    <TD width="1%"></TD>
    <TD vAlign=top width="99%" colSpan=12>&nbsp; </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="1%"></TD>
    <TD vAlign=top noWrap align=left width="29%" bgColor=#c0c0c0><FONT face=serif size=2>Richard Grubb</FONT>&nbsp; </TD>
    <TD vAlign=top noWrap align=right width="1%" bgColor=#c0c0c0></TD>
    <TD vAlign=top noWrap align=right width="1%" bgColor=#c0c0c0><FONT face=serif size=2>$</FONT></TD>
    <TD vAlign=top noWrap align=right width="1%" bgColor=#c0c0c0><FONT face=serif size=2>1,500,000</FONT></TD>
    <TD vAlign=top noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD vAlign=top noWrap align=left width="1%" bgColor=#c0c0c0><FONT face=serif size=2>$</FONT></TD>
    <TD vAlign=top noWrap align=right width="4%" bgColor=#c0c0c0><FONT face=serif size=2>&#151;</FONT></TD>
    <TD vAlign=top noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD vAlign=top noWrap align=left width="1%" bgColor=#c0c0c0><FONT face=serif size=2>$</FONT></TD>
    <TD vAlign=top noWrap align=right width="4%" bgColor=#c0c0c0><FONT face=serif size=2>&#151;</FONT></TD>
    <TD vAlign=top noWrap align=right width="1%" bgColor=#c0c0c0></TD>
    <TD vAlign=top align=left width="54%" bgColor=#c0c0c0><FONT face=serif size=2>Lump sum severance payable</FONT></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="1%"></TD>
    <TD vAlign=top noWrap align=left width="29%" bgColor=#c0c0c0></TD>
    <TD vAlign=top noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD vAlign=top noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD vAlign=top noWrap align=right width="1%" bgColor=#c0c0c0><FONT face=serif size=2>161,667</FONT></TD>
    <TD vAlign=top noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD vAlign=top noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD vAlign=top noWrap align=right width="4%" bgColor=#c0c0c0><FONT face=serif size=2>&#151;</FONT></TD>
    <TD vAlign=top noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD vAlign=top noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD vAlign=top noWrap align=right width="4%" bgColor=#c0c0c0><FONT face=serif size=2>&#151;</FONT></TD>
    <TD vAlign=top noWrap align=right width="1%" bgColor=#c0c0c0></TD>
    <TD vAlign=top align=left width="54%" bgColor=#c0c0c0><FONT face=serif size=2>Salary continuation payable</FONT></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="1%"></TD>
    <TD vAlign=top noWrap align=left width="29%" bgColor=#c0c0c0></TD>
    <TD vAlign=top noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD vAlign=top noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD vAlign=top noWrap align=right width="1%" bgColor=#c0c0c0><FONT face=serif size=2>80,000</FONT></TD>
    <TD vAlign=top noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD vAlign=top noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD vAlign=top noWrap align=right width="4%" bgColor=#c0c0c0><FONT face=serif size=2>&#151;</FONT></TD>
    <TD vAlign=top noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD vAlign=top noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD vAlign=top noWrap align=right width="4%" bgColor=#c0c0c0><FONT face=serif size=2>&#151;</FONT></TD>
    <TD vAlign=top noWrap align=right width="1%" bgColor=#c0c0c0></TD>
    <TD vAlign=top align=left width="54%" bgColor=#c0c0c0><FONT face=serif size=2>Consulting fees</FONT></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="1%"></TD>
    <TD vAlign=top noWrap align=left width="29%" bgColor=#c0c0c0></TD>
    <TD vAlign=top noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD vAlign=top noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD vAlign=top noWrap align=right width="1%" bgColor=#c0c0c0><FONT face=serif size=2>98,490</FONT></TD>
    <TD vAlign=top noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD vAlign=top noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD vAlign=top noWrap align=right width="4%" bgColor=#c0c0c0><FONT face=serif size=2>100,000</FONT></TD>
    <TD vAlign=top noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD vAlign=top noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD vAlign=top noWrap align=right width="4%" bgColor=#c0c0c0><FONT face=serif size=2>100,000</FONT></TD>
    <TD vAlign=top noWrap align=right width="1%" bgColor=#c0c0c0></TD>
    <TD vAlign=top align=left width="54%" bgColor=#c0c0c0><FONT face=serif size=2>Company contribution to non-qualified deferred compensation
      plan</FONT></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="1%"></TD>
    <TD vAlign=top noWrap align=left width="29%" bgColor=#c0c0c0></TD>
    <TD vAlign=top noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD vAlign=top noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD vAlign=top noWrap align=right width="1%" bgColor=#c0c0c0><FONT face=serif size=2>16,999</FONT></TD>
    <TD vAlign=top noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD vAlign=top noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD vAlign=top noWrap align=right width="4%" bgColor=#c0c0c0><FONT face=serif size=2>22,932</FONT></TD>
    <TD vAlign=top noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD vAlign=top noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD vAlign=top noWrap align=right width="4%" bgColor=#c0c0c0><FONT face=serif size=2>20,114</FONT></TD>
    <TD vAlign=top noWrap align=right width="1%" bgColor=#c0c0c0></TD>
    <TD vAlign=top align=left width="54%" bgColor=#c0c0c0><FONT face=serif size=2>Personal use of Company car</FONT></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="1%"></TD>
    <TD vAlign=top noWrap align=left width="29%" bgColor=#c0c0c0></TD>
    <TD vAlign=top noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD vAlign=top noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD vAlign=top noWrap align=right width="1%" bgColor=#c0c0c0><FONT face=serif size=2>4,600</FONT></TD>
    <TD vAlign=top noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD vAlign=top noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD vAlign=top noWrap align=right width="4%" bgColor=#c0c0c0><FONT face=serif size=2>4,500</FONT></TD>
    <TD vAlign=top noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD vAlign=top noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD vAlign=top noWrap align=right width="4%" bgColor=#c0c0c0><FONT face=serif size=2>4,200</FONT></TD>
    <TD vAlign=top noWrap align=right width="1%" bgColor=#c0c0c0></TD>
    <TD vAlign=top align=left width="54%" bgColor=#c0c0c0><FONT face=serif size=2>Company match to 401(k) plan</FONT></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="1%"></TD>
    <TD vAlign=top noWrap align=left width="29%" bgColor=#c0c0c0></TD>
    <TD vAlign=top noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD vAlign=top noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD vAlign=top noWrap align=right width="1%" bgColor=#c0c0c0><FONT face=serif size=2>1,895</FONT></TD>
    <TD vAlign=top noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD vAlign=top noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD vAlign=top noWrap align=right width="4%" bgColor=#c0c0c0><FONT face=serif size=2>1,888</FONT></TD>
    <TD vAlign=top noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD vAlign=top noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD vAlign=top noWrap align=right width="4%" bgColor=#c0c0c0><FONT face=serif size=2>1,693</FONT></TD>
    <TD vAlign=top noWrap align=right width="1%" bgColor=#c0c0c0></TD>
    <TD vAlign=top align=left width="54%" bgColor=#c0c0c0><FONT face=serif size=2>Company-paid medical costs</FONT></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="1%"></TD>
    <TD vAlign=top noWrap align=left width="29%" bgColor=#c0c0c0></TD>
    <TD vAlign=top noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD vAlign=top noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD vAlign=top noWrap align=right width="1%" bgColor=#c0c0c0><FONT face=serif size=2>3,154</FONT></TD>
    <TD vAlign=top noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD vAlign=top noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD vAlign=top noWrap align=right width="4%" bgColor=#c0c0c0><FONT face=serif size=2>3,564</FONT></TD>
    <TD vAlign=top noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD vAlign=top noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD vAlign=top noWrap align=right width="4%" bgColor=#c0c0c0><FONT face=serif size=2>3,563</FONT></TD>
    <TD vAlign=top noWrap align=right width="1%" bgColor=#c0c0c0></TD>
    <TD vAlign=top align=left width="54%" bgColor=#c0c0c0><FONT face=serif size=2>Group Term Life imputed income</FONT></TD></TR>
  <TR>
    <TD width="1%"></TD>
    <TD vAlign=top width="99%" colSpan=12>&nbsp; </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="1%"></TD>
    <TD vAlign=top noWrap align=left width="29%" bgColor=#c0c0c0><FONT face=serif size=2>Marc Zandman</FONT>&nbsp; </TD>
    <TD vAlign=top noWrap align=right width="1%" bgColor=#c0c0c0></TD>
    <TD vAlign=top noWrap align=right width="1%" bgColor=#c0c0c0><FONT face=serif size=2>$</FONT></TD>
    <TD vAlign=top noWrap align=right width="1%" bgColor=#c0c0c0><FONT face=serif size=2>100,000</FONT></TD>
    <TD vAlign=top noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD vAlign=top noWrap align=left width="1%" bgColor=#c0c0c0><FONT face=serif size=2>$</FONT></TD>
    <TD vAlign=top noWrap align=right width="4%" bgColor=#c0c0c0><FONT face=serif size=2>100,000</FONT></TD>
    <TD vAlign=top noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD vAlign=top noWrap align=left width="1%" bgColor=#c0c0c0><FONT face=serif size=2>$</FONT></TD>
    <TD vAlign=top noWrap align=right width="4%" bgColor=#c0c0c0><FONT face=serif size=2>100,000</FONT></TD>
    <TD vAlign=top noWrap align=right width="1%" bgColor=#c0c0c0></TD>
    <TD vAlign=top align=left width="54%" bgColor=#c0c0c0><FONT face=serif size=2>Company contribution to non-qualified deferred compensation
      plan</FONT></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="1%"></TD>
    <TD vAlign=top noWrap align=left width="29%" bgColor=#c0c0c0></TD>
    <TD vAlign=top noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD vAlign=top noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD vAlign=top noWrap align=right width="1%" bgColor=#c0c0c0><FONT face=serif size=2>16,158</FONT></TD>
    <TD vAlign=top noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD vAlign=top noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD vAlign=top noWrap align=right width="4%" bgColor=#c0c0c0><FONT face=serif size=2>9,288</FONT></TD>
    <TD vAlign=top noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD vAlign=top noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD vAlign=top noWrap align=right width="4%" bgColor=#c0c0c0><FONT face=serif size=2>10,094</FONT></TD>
    <TD vAlign=top noWrap align=right width="1%" bgColor=#c0c0c0></TD>
    <TD vAlign=top align=left width="54%" bgColor=#c0c0c0><FONT face=serif size=2>Personal use of Company car *</FONT></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="1%"></TD>
    <TD vAlign=top noWrap align=left width="29%" bgColor=#c0c0c0></TD>
    <TD vAlign=top noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD vAlign=top noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD vAlign=top noWrap align=right width="1%" bgColor=#c0c0c0><FONT face=serif size=2>159,957</FONT></TD>
    <TD vAlign=top noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD vAlign=top noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD vAlign=top noWrap align=right width="4%" bgColor=#c0c0c0><FONT face=serif size=2>83,963</FONT></TD>
    <TD vAlign=top noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD vAlign=top noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD vAlign=top noWrap align=right width="4%" bgColor=#c0c0c0><FONT face=serif size=2>64,023</FONT></TD>
    <TD vAlign=top noWrap align=right width="1%" bgColor=#c0c0c0></TD>
    <TD vAlign=top align=left width="54%" bgColor=#c0c0c0><FONT face=serif size=2>Israeli employment benefits *</FONT></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="1%"></TD>
    <TD vAlign=top noWrap align=left width="29%" bgColor=#c0c0c0></TD>
    <TD vAlign=top noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD vAlign=top noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD vAlign=top noWrap align=right width="1%" bgColor=#c0c0c0><FONT face=serif size=2>27,047</FONT></TD>
    <TD vAlign=top noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD vAlign=top noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD vAlign=top noWrap align=right width="4%" bgColor=#c0c0c0><FONT face=serif size=2>26,134</FONT></TD>
    <TD vAlign=top noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD vAlign=top noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD vAlign=top noWrap align=right width="4%" bgColor=#c0c0c0><FONT face=serif size=2>&#151;</FONT></TD>
    <TD vAlign=top noWrap align=right width="1%" bgColor=#c0c0c0></TD>
    <TD vAlign=top align=left width="54%" bgColor=#c0c0c0><FONT face=serif size=2>Medical and prescription drug insurance premiums (Blue Cross / Blue
      Shield)</FONT></TD></TR>
  <TR>
    <TD width="1%"></TD>
    <TD vAlign=top width="99%" colSpan=12>&nbsp; </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="1%"></TD>
    <TD vAlign=top noWrap align=left width="29%" bgColor=#c0c0c0><FONT face=serif size=2>Ziv Shoshani</FONT>&nbsp; </TD>
    <TD vAlign=top noWrap align=right width="1%" bgColor=#c0c0c0></TD>
    <TD vAlign=top noWrap align=right width="1%" bgColor=#c0c0c0><FONT face=serif size=2>$</FONT></TD>
    <TD vAlign=top noWrap align=right width="1%" bgColor=#c0c0c0><FONT face=serif size=2>100,000</FONT></TD>
    <TD vAlign=top noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD vAlign=top noWrap align=left width="1%" bgColor=#c0c0c0><FONT face=serif size=2>$</FONT></TD>
    <TD vAlign=top noWrap align=right width="4%" bgColor=#c0c0c0><FONT face=serif size=2>100,000</FONT></TD>
    <TD vAlign=top noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD vAlign=top noWrap align=left width="1%" bgColor=#c0c0c0><FONT face=serif size=2>$</FONT></TD>
    <TD vAlign=top noWrap align=right width="4%" bgColor=#c0c0c0><FONT face=serif size=2>100,000</FONT></TD>
    <TD vAlign=top noWrap align=right width="1%" bgColor=#c0c0c0></TD>
    <TD vAlign=top align=left width="54%" bgColor=#c0c0c0><FONT face=serif size=2>Company contribution to non-qualified deferred compensation
      plan</FONT></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="1%"></TD>
    <TD vAlign=top noWrap align=left width="29%" bgColor=#c0c0c0></TD>
    <TD vAlign=top noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD vAlign=top noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD vAlign=top noWrap align=right width="1%" bgColor=#c0c0c0><FONT face=serif size=2>12,871</FONT></TD>
    <TD vAlign=top noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD vAlign=top noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD vAlign=top noWrap align=right width="4%" bgColor=#c0c0c0><FONT face=serif size=2>9,537</FONT></TD>
    <TD vAlign=top noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD vAlign=top noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD vAlign=top noWrap align=right width="4%" bgColor=#c0c0c0><FONT face=serif size=2>11,205</FONT></TD>
    <TD vAlign=top noWrap align=right width="1%" bgColor=#c0c0c0></TD>
    <TD vAlign=top align=left width="54%" bgColor=#c0c0c0><FONT face=serif size=2>Personal use of Company car *</FONT></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="1%"></TD>
    <TD vAlign=top noWrap align=left width="29%" bgColor=#c0c0c0></TD>
    <TD vAlign=top noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD vAlign=top noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD vAlign=top noWrap align=right width="1%" bgColor=#c0c0c0><FONT face=serif size=2>157,906</FONT></TD>
    <TD vAlign=top noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD vAlign=top noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD vAlign=top noWrap align=right width="4%" bgColor=#c0c0c0><FONT face=serif size=2>70,892</FONT></TD>
    <TD vAlign=top noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD vAlign=top noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD vAlign=top noWrap align=right width="4%" bgColor=#c0c0c0><FONT face=serif size=2>49,138</FONT></TD>
    <TD vAlign=top noWrap align=right width="1%" bgColor=#c0c0c0></TD>
    <TD vAlign=top align=left width="54%" bgColor=#c0c0c0><FONT face=serif size=2>Israeli employment benefits *</FONT></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="1%"></TD>
    <TD vAlign=top noWrap align=left width="29%" bgColor=#c0c0c0></TD>
    <TD vAlign=top noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD vAlign=top noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD vAlign=top noWrap align=right width="1%" bgColor=#c0c0c0><FONT face=serif size=2>27,047</FONT></TD>
    <TD vAlign=top noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD vAlign=top noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD vAlign=top noWrap align=right width="4%" bgColor=#c0c0c0><FONT face=serif size=2>26,134</FONT></TD>
    <TD vAlign=top noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD vAlign=top noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD vAlign=top noWrap align=right width="4%" bgColor=#c0c0c0><FONT face=serif size=2>&#151;</FONT></TD>
    <TD vAlign=top noWrap align=right width="1%" bgColor=#c0c0c0></TD>
    <TD vAlign=top align=left width="54%" bgColor=#c0c0c0><FONT face=serif size=2>Medical and prescription drug insurance premiums (Blue Cross / Blue
      Shield)</FONT></TD></TR></TABLE></DIV>
<P align=center><FONT face=serif size=2>33</FONT></P>
<HR align=center width="100%" noShade SIZE=2>
<PAGE><BR>
<TABLE style="TEXT-ALIGN: justify" cellSpacing=0 cellPadding=0 border=0>

  <TR>
    <TD vAlign=top noWrap><FONT face=serif size=2>(8)</FONT></TD>
    <TD vAlign=top noWrap></TD>
    <TD vAlign=top width="100%"><FONT face=serif size=2>Dr. Paul was Chief
      Operating Officer through December 31, 2006.</FONT></TD></TR>
  <TR>
    <TD vAlign=top width="100%" colSpan=3>&nbsp; </TD></TR>
  <TR>
    <TD vAlign=top noWrap><FONT face=serif size=2>(9)</FONT></TD>
    <TD vAlign=top noWrap></TD>
    <TD vAlign=top width="100%"><FONT face=serif size=2>Dr. Yahalomi was
      appointed Executive Vice President and Chief Financial Officer on
      September 1, 2008. Amounts presented include amounts earned in his
      previous position as Senior Vice President - Mergers and
      Acquisitions.</FONT></TD></TR>
  <TR>
    <TD vAlign=top width="100%" colSpan=3>&nbsp; </TD></TR>
  <TR>
    <TD vAlign=top noWrap><FONT face=serif size=2>(10)</FONT></TD>
    <TD vAlign=top noWrap>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </TD>
    <TD vAlign=top width="100%"><FONT face=serif size=2>In addition to the
      listed positions, Mr. Grubb was also Treasurer through May 2007. Mr. Grubb
      terminated his employment for &#147;good reason&#148; effective September 1, 2008.
      Mr. Grubb&#146;s salary presented in the table was pro-rated for the portion of
      the year he was employed by the Company. Under the terms of his severance
      arrangements, Mr. Grubb will continue to receive his base salary for a
      period of three years from the date of termination of employment provided
      that he continues to comply with certain non-competition and
      non-solicitation covenants. His salary continuance for 2008 (4/12 of his
      annual salary) and lump sum severance payment are reported in &#147;All Other
      Compensation.&#148; Please refer to &#147;Severance of Richard N. Grubb&#148; for full
      description of his severance arrangement. Mr. Grubb also earned consulting
      fees totaling $80,000 in 2008 following termination of his
      employment.</FONT></TD></TR>
  <TR>
    <TD vAlign=top width="100%" colSpan=3>&nbsp; </TD></TR>
  <TR>
    <TD vAlign=top noWrap><FONT face=serif size=2>(11)</FONT></TD>
    <TD vAlign=top noWrap></TD>
    <TD vAlign=top width="100%"><FONT face=serif size=2>Mr. Zandman was
      appointed Chief Administration Officer effective January 1,
  2007.</FONT></TD></TR>
  <TR>
    <TD vAlign=top width="100%" colSpan=3>&nbsp; </TD></TR>
  <TR>
    <TD vAlign=top noWrap><FONT face=serif size=2>(12)</FONT></TD>
    <TD vAlign=top noWrap></TD>
    <TD vAlign=top width="100%"><FONT face=serif size=2>Mr. Shoshani was
      appointed Chief Operating Officer effective January 1, 2007 and was Deputy
      Chief Operating Officer during 2006.</FONT></TD></TR></TABLE>
<P align=center><FONT face=serif size=2>34 </FONT></P>
<HR align=center width="100%" noShade SIZE=2>
<PAGE>
<P align=justify><B><FONT face=serif size=2>Grants of Plan Based Awards
</FONT></B></P>
<P align=justify><FONT face=serif size=2>The following table provides
information with regard to plan based awards granted to each named executive
officer during 2008. The information included in the table should be read in
conjunction with the footnotes which follows and the description of Vishay&#146;s
Senior Executive Phantom Stock Plan described in &#147;Compensation Discussion and
Analysis.&#148;</FONT><FONT face=serif size=2> </FONT></P>
<TABLE style="FONT-SIZE: 10pt; LINE-HEIGHT: 14pt; BORDER-COLLAPSE: collapse" cellSpacing=0 cellPadding=0 width="100%" border=0>

  <TR vAlign=bottom>
    <TD noWrap align=left width="52%"></TD>
    <TD noWrap align=center width="1%"></TD>
    <TD noWrap align=center width="6%"></TD>
    <TD noWrap align=center width="1%"></TD>
    <TD noWrap align=center width="1%"></TD>
    <TD noWrap align=center width="8%"></TD>
    <TD noWrap align=center width="1%"></TD>
    <TD noWrap align=center width="6%"></TD>
    <TD noWrap align=center width="1%"></TD>
    <TD noWrap align=center width="6%"><B><FONT face=serif size=1>All
      Other</FONT></B></TD>
    <TD noWrap align=center width="1%"></TD>
    <TD noWrap align=center width="1%"></TD>
    <TD noWrap align=center width="6%"></TD>
    <TD noWrap align=center width="1%"></TD>
    <TD noWrap align=center width="1%"></TD>
    <TD noWrap align=center width="7%"></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="52%"></TD>
    <TD noWrap align=center width="1%"></TD>
    <TD noWrap align=center width="6%"></TD>
    <TD noWrap align=center width="1%"></TD>
    <TD noWrap align=center width="9%" colSpan=2><B><FONT face=serif size=1>Estimated Future</FONT></B></TD>
    <TD noWrap align=center width="1%"></TD>
    <TD noWrap align=center width="6%"><B><FONT face=serif size=1>All
      Other</FONT></B></TD>
    <TD noWrap align=center width="1%"></TD>
    <TD noWrap align=center width="6%"><B><FONT face=serif size=1>Option</FONT></B></TD>
    <TD noWrap align=center width="1%"></TD>
    <TD noWrap align=center width="1%"></TD>
    <TD noWrap align=center width="6%"></TD>
    <TD noWrap align=center width="1%"></TD>
    <TD noWrap align=center width="1%"></TD>
    <TD noWrap align=center width="7%"></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="52%"></TD>
    <TD noWrap align=center width="1%"></TD>
    <TD noWrap align=center width="6%"></TD>
    <TD noWrap align=center width="1%"></TD>
    <TD noWrap align=center width="9%" colSpan=2><B><FONT face=serif size=1>Payouts Under</FONT></B></TD>
    <TD noWrap align=center width="1%"></TD>
    <TD noWrap align=center width="6%"><B><FONT face=serif size=1>Stock</FONT></B></TD>
    <TD noWrap align=center width="1%"></TD>
    <TD noWrap align=center width="6%"><B><FONT face=serif size=1>Awards:</FONT></B></TD>
    <TD noWrap align=center width="1%"></TD>
    <TD noWrap align=center width="7%" colSpan=2><B><FONT face=serif size=1>Exercise</FONT></B></TD>
    <TD noWrap align=center width="1%"></TD>
    <TD noWrap align=center width="8%" colSpan=2><B><FONT face=serif size=1>Grant Date</FONT></B></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="52%"></TD>
    <TD noWrap align=center width="1%"></TD>
    <TD noWrap align=center width="6%"></TD>
    <TD noWrap align=center width="1%"></TD>
    <TD noWrap align=center width="9%" colSpan=2><B><FONT face=serif size=1>Non-Equity</FONT></B></TD>
    <TD noWrap align=center width="1%"></TD>
    <TD noWrap align=center width="6%"><B><FONT face=serif size=1>Awards:</FONT></B></TD>
    <TD noWrap align=center width="1%"></TD>
    <TD noWrap align=center width="6%"><B><FONT face=serif size=1>Number
      of</FONT></B></TD>
    <TD noWrap align=center width="1%"></TD>
    <TD noWrap align=center width="7%" colSpan=2><B><FONT face=serif size=1>or
      Base</FONT></B></TD>
    <TD noWrap align=center width="1%"></TD>
    <TD noWrap align=center width="8%" colSpan=2><B><FONT face=serif size=1>Fair Value of</FONT></B></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="52%"></TD>
    <TD noWrap align=center width="1%"></TD>
    <TD noWrap align=center width="6%"></TD>
    <TD noWrap align=center width="1%"></TD>
    <TD noWrap align=center width="9%" colSpan=2><B><FONT face=serif size=1>Incentive Plan</FONT></B></TD>
    <TD noWrap align=center width="1%"></TD>
    <TD noWrap align=center width="6%"><B><FONT face=serif size=1>Number
      of</FONT></B></TD>
    <TD noWrap align=center width="1%"></TD>
    <TD noWrap align=center width="6%"><B><FONT face=serif size=1>Securities</FONT></B></TD>
    <TD noWrap align=center width="1%"></TD>
    <TD noWrap align=center width="7%" colSpan=2><B><FONT face=serif size=1>Price of</FONT></B></TD>
    <TD noWrap align=center width="1%"></TD>
    <TD noWrap align=center width="8%" colSpan=2><B><FONT face=serif size=1>Stock and</FONT></B></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="52%"></TD>
    <TD noWrap align=center width="1%"></TD>
    <TD noWrap align=center width="6%"></TD>
    <TD noWrap align=center width="1%"></TD>
    <TD noWrap align=center width="9%" colSpan=2><B><FONT face=serif size=1>Awards Max</FONT></B></TD>
    <TD noWrap align=center width="1%"></TD>
    <TD noWrap align=center width="6%"><B><FONT face=serif size=1>Shares
      of</FONT></B></TD>
    <TD noWrap align=center width="1%"></TD>
    <TD noWrap align=center width="6%"><B><FONT face=serif size=1>Underlying</FONT></B></TD>
    <TD noWrap align=center width="1%"></TD>
    <TD noWrap align=center width="7%" colSpan=2><B><FONT face=serif size=1>Option</FONT></B></TD>
    <TD noWrap align=center width="1%"></TD>
    <TD noWrap align=center width="8%" colSpan=2><B><FONT face=serif size=1>Option Awards</FONT></B></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="52%"></TD>
    <TD noWrap align=center width="1%"></TD>
    <TD noWrap align=center width="6%"><B><FONT face=serif size=1>Grant</FONT></B></TD>
    <TD noWrap align=center width="1%"></TD>
    <TD noWrap align=center width="9%" colSpan=2><B><FONT face=serif size=1>($)</FONT></B></TD>
    <TD noWrap align=center width="1%"></TD>
    <TD noWrap align=center width="6%"><B><FONT face=serif size=1>Stock
      or</FONT></B></TD>
    <TD noWrap align=center width="1%"></TD>
    <TD noWrap align=center width="6%"><B><FONT face=serif size=1>Option</FONT></B></TD>
    <TD noWrap align=center width="1%"></TD>
    <TD noWrap align=center width="7%" colSpan=2><B><FONT face=serif size=1>Awards</FONT></B></TD>
    <TD noWrap align=center width="1%"></TD>
    <TD noWrap align=center width="8%" colSpan=2><B><FONT face=serif size=1>($)</FONT></B></TD></TR>
  <TR vAlign=bottom>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="52%"><B><FONT face=serif size=1>Name</FONT></B></TD>
    <TD noWrap align=center width="1%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="6%"><B><FONT face=serif size=1>Date</FONT></B></TD>
    <TD noWrap align=center width="1%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="9%" colSpan=2><B><FONT face=serif size=1>(1)</FONT></B></TD>
    <TD noWrap align=center width="1%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="6%"><B><FONT face=serif size=1>Units (2)</FONT></B></TD>
    <TD noWrap align=center width="1%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="6%"><B><FONT face=serif size=1>(#)</FONT></B></TD>
    <TD noWrap align=center width="1%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="7%" colSpan=2><B><FONT face=serif size=1>($/sh)</FONT></B></TD>
    <TD noWrap align=center width="1%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="8%" colSpan=2><B><FONT face=serif size=1>(3)</FONT></B></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="52%" bgColor=#c0c0c0><FONT face=serif size=1>Dr. Felix Zandman</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0>&nbsp;</TD>
    <TD noWrap align=left width="6%" bgColor=#c0c0c0><FONT face=serif size=1>1/2/2008</FONT></TD>
    <TD noWrap align=right width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0><FONT size=1>$</FONT> </TD>
    <TD noWrap align=right width="8%" bgColor=#c0c0c0><FONT size=1>2,925,000</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=right width="6%" bgColor=#c0c0c0><FONT face=serif size=1>5,000</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=right width="6%" bgColor=#c0c0c0><FONT face=serif size=1>&#151;</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=right width="6%" bgColor=#c0c0c0><FONT face=serif size=1>&#151;</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0>&nbsp;</TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0><FONT face=serif size=1>$</FONT></TD>
    <TD noWrap align=right width="7%" bgColor=#c0c0c0><FONT face=serif size=1>57,100</FONT></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="52%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="6%" bgColor=#c0c0c0><FONT face=serif size=1>5/28/2008</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0><FONT face=serif size=1>$</FONT></TD>
    <TD noWrap align=right width="8%" bgColor=#c0c0c0><FONT face=serif size=1>&#151;</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=right width="6%" bgColor=#c0c0c0><FONT face=serif size=1>168,000</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="6%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=right width="6%" bgColor=#c0c0c0><FONT face=serif size=1>&#151;</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0><FONT face=serif size=1>$</FONT></TD>
    <TD noWrap align=right width="7%" bgColor=#c0c0c0><FONT face=serif size=1>1,659,840</FONT></TD></TR>
  <TR>
    <TD width="100%" colSpan=16>&nbsp; </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="52%" bgColor=#c0c0c0><FONT face=serif size=1>Dr. Gerald Paul</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="6%" bgColor=#c0c0c0><FONT face=serif size=1>1/2/2008</FONT></TD>
    <TD noWrap align=right width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0><FONT size=1>$</FONT> </TD>
    <TD noWrap align=right width="8%" bgColor=#c0c0c0><FONT size=1>3,311,817</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=right width="6%" bgColor=#c0c0c0><FONT face=serif size=1>5,000</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0>&nbsp;</TD>
    <TD noWrap align=right width="6%" bgColor=#c0c0c0><FONT face=serif size=1>&#151;</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0>&nbsp;</TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0>&nbsp;</TD>
    <TD noWrap align=right width="6%" bgColor=#c0c0c0><FONT face=serif size=1>&#151;</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0><FONT face=serif size=1>$</FONT></TD>
    <TD noWrap align=right width="7%" bgColor=#c0c0c0><FONT face=serif size=1>57,100</FONT></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="52%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="6%" bgColor=#c0c0c0><FONT face=serif size=1>5/28/2008</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0><FONT face=serif size=1>$</FONT></TD>
    <TD noWrap align=right width="8%" bgColor=#c0c0c0><FONT face=serif size=1>&#151;</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=right width="6%" bgColor=#c0c0c0><FONT face=serif size=1>112,000</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="6%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=right width="6%" bgColor=#c0c0c0><FONT face=serif size=1>&#151;</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0><FONT face=serif size=1>$</FONT></TD>
    <TD noWrap align=right width="7%" bgColor=#c0c0c0><FONT face=serif size=1>1,106,560</FONT></TD></TR>
  <TR>
    <TD width="100%" colSpan=16>&nbsp; </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="52%" bgColor=#c0c0c0><FONT face=serif size=1>Dr. Lior Yahalomi</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="6%" bgColor=#c0c0c0><FONT face=serif size=1>8/18/2008</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0><FONT face=serif size=1>$</FONT></TD>
    <TD noWrap align=right width="8%" bgColor=#c0c0c0><FONT face=serif size=1>&#151;</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=right width="6%" bgColor=#c0c0c0><FONT face=serif size=1>&#151;</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=right width="6%" bgColor=#c0c0c0><FONT face=serif size=1>30,000</FONT></TD>
    <TD noWrap align=right width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0><FONT face=serif size=1>$</FONT></TD>
    <TD noWrap align=right width="6%" bgColor=#c0c0c0><FONT face=serif size=1>8.72</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0><FONT face=serif size=1>$</FONT></TD>
    <TD noWrap align=right width="7%" bgColor=#c0c0c0><FONT face=serif size=1>147,095</FONT></TD></TR>
  <TR>
    <TD width="100%" colSpan=16>&nbsp; </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="52%" bgColor=#c0c0c0><FONT face=serif size=1>Richard Grubb <SUP>(4)</SUP></FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="6%" bgColor=#c0c0c0><FONT face=serif size=1>1/2/2008</FONT></TD>
    <TD noWrap align=right width="1%" bgColor=#c0c0c0>&nbsp;</TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0><FONT size=1>$</FONT> </TD>
    <TD noWrap align=right width="8%" bgColor=#c0c0c0><FONT size=1>1,455,000</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0>&nbsp;</TD>
    <TD noWrap align=right width="6%" bgColor=#c0c0c0><FONT face=serif size=1>5,000</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=right width="6%" bgColor=#c0c0c0><FONT face=serif size=1>&#151;</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=right width="6%" bgColor=#c0c0c0><FONT face=serif size=1>&#151;</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0><FONT face=serif size=1>$</FONT></TD>
    <TD noWrap align=right width="7%" bgColor=#c0c0c0><FONT face=serif size=1>57,100</FONT></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="52%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="6%" bgColor=#c0c0c0><FONT face=serif size=1>5/28/2008</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0><FONT face=serif size=1>$</FONT></TD>
    <TD noWrap align=right width="8%" bgColor=#c0c0c0><FONT face=serif size=1>&#151;</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=right width="6%" bgColor=#c0c0c0><FONT face=serif size=1>56,000</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="6%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=right width="6%" bgColor=#c0c0c0><FONT face=serif size=1>&#151;</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0><FONT face=serif size=1>$</FONT></TD>
    <TD noWrap align=right width="7%" bgColor=#c0c0c0><FONT face=serif size=1>553,280</FONT></TD></TR>
  <TR>
    <TD width="100%" colSpan=16>&nbsp; </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="52%" bgColor=#c0c0c0><FONT face=serif size=1>Marc Zandman <SUP>(5)</SUP></FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="6%" bgColor=#c0c0c0><FONT face=serif size=1>1/2/2008</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0><FONT face=serif size=1>$</FONT></TD>
    <TD noWrap align=right width="8%" bgColor=#c0c0c0><FONT face=serif size=1>&#151;</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=right width="6%" bgColor=#c0c0c0><FONT face=serif size=1>5,000</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=right width="6%" bgColor=#c0c0c0><FONT face=serif size=1>&#151;</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=right width="6%" bgColor=#c0c0c0><FONT face=serif size=1>&#151;</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0><FONT face=serif size=1>$</FONT></TD>
    <TD noWrap align=right width="7%" bgColor=#c0c0c0><FONT face=serif size=1>57,100</FONT></TD></TR>
  <TR>
    <TD width="100%" colSpan=16>&nbsp;&nbsp; </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="52%" bgColor=#c0c0c0><FONT face=serif size=1>Ziv Shoshani <SUP>(5)</SUP></FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="6%" bgColor=#c0c0c0><FONT face=serif size=1>1/2/2008</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0><FONT face=serif size=1>$</FONT></TD>
    <TD noWrap align=right width="8%" bgColor=#c0c0c0><FONT face=serif size=1>&#151;</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=right width="6%" bgColor=#c0c0c0><FONT face=serif size=1>5,000</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=right width="6%" bgColor=#c0c0c0><FONT face=serif size=1>&#151;</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=right width="6%" bgColor=#c0c0c0><FONT face=serif size=1>&#151;</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0><FONT face=serif size=1>$</FONT></TD>
    <TD noWrap align=right width="7%" bgColor=#c0c0c0><FONT face=serif size=1>57,100</FONT></TD></TR></TABLE><BR>
<TABLE style="TEXT-ALIGN: justify" cellSpacing=0 cellPadding=0 border=0>

  <TR>
    <TD vAlign=top noWrap><FONT face=serif size=2>(1)</FONT></TD>
    <TD vAlign=top noWrap></TD>
    <TD vAlign=top width="100%"><FONT face=serif size=2>Amounts in this column
      represent three times the executive&#146;s base salary in the case of each of
      Dr. Zandman, Dr. Paul and Mr. Grubb, because their maximum bonuses are
      limited under the Company&#146;s 162(m) Plan to such amount. Dr. Paul and Mr.
      Grubb&#146;s actual incentive plan awards were $991,889, respectively. See
      footnote 2 to the Summary Compensation Table above.</FONT></TD></TR>
  <TR>
    <TD vAlign=top width="100%" colSpan=3>&nbsp; </TD></TR>
  <TR>
    <TD vAlign=top noWrap><FONT face=serif size=2>(2)</FONT></TD>
    <TD vAlign=top noWrap></TD>
    <TD vAlign=top width="100%"><FONT face=serif size=2>Included in this
      column are awards of phantom stock granted effective January 2, 2008 and
      awards of restricted stock units granted effective May 28,
  2008.</FONT></TD></TR>
  <TR>
    <TD vAlign=top width="100%" colSpan=3>&nbsp; </TD></TR>
  <TR>
    <TD vAlign=top noWrap></TD>
    <TD vAlign=top noWrap>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </TD>
    <TD vAlign=top width="100%"><FONT face=serif size=2>One half of the
      restricted stock units were granted with only a service condition. Of
      these, one-sixth vested on the date of grant and the remainder will vest
      in equal installments on the next five anniversaries of the date of grant.
      The other half of the restricted stock units were granted on the condition
      that adjusted net income per share for 2008 exceeds by a specified amount
      adjusted net income per share for 2007. This condition was not satisfied,
      and these restricted stock units were forfeited.</FONT></TD></TR>
  <TR>
    <TD vAlign=top width="100%" colSpan=3>&nbsp; </TD></TR>
  <TR>
    <TD vAlign=top noWrap></TD>
    <TD vAlign=top noWrap></TD>
    <TD vAlign=top width="100%"><FONT face=serif size=2>All restricted stock
      units granted to Mr. Grubb with a service condition that were unvested as
      of the date of the termination of his employment on September 1, 2008
      (23,333 units) were forfeited.</FONT></TD></TR></TABLE>
<P align=center><FONT face=serif size=2>35 </FONT></P>
<HR align=center width="100%" noShade SIZE=2>
<PAGE><BR>
<TABLE style="TEXT-ALIGN: justify" cellSpacing=0 cellPadding=0 border=0>

  <TR>
    <TD vAlign=top noWrap><FONT size=2>(3)</FONT></TD>
    <TD vAlign=top noWrap></TD>
    <TD vAlign=top width="100%"><FONT size=2>Amounts in this column
      include:</FONT></TD></TR>
  <TR>
    <TD vAlign=top noWrap></TD>
    <TD vAlign=top noWrap></TD>
    <TD vAlign=top width="100%">&nbsp;</TD></TR>
  <TR>
    <TD vAlign=top noWrap></TD>
    <TD vAlign=top noWrap>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </TD>
    <TD vAlign=top width="100%">
      <UL style="MARGIN-BOTTOM: 1pt; TEXT-ALIGN: justify">
        <LI><FONT face=serif size=2>the grant-date fair value of 5,000 phantom
        stock units awarded annually to certain executive officers pursuant to
        the terms of their employment agreements. The amount is calculated using
        the closing price of Vishay stock on the grant date of $11.42. The
        common stock underlying these awards is not received until termination
        of employment, and accordingly, there can be no assurance that the
        grant-date fair value of these awards will ever be realized;</FONT>
        <LI><FONT face=serif size=2>the grant-date fair value of the restricted
        stock units. The amount is calculated using the closing price of Vishay
        stock on the date of grant of $9.88. The common stock underlying these
        awards is not received until the awards are vested, and accordingly,
        there can be no assurance that the grant-date fair value of these awards
        will ever be realized. The performance-based vesting conditions for
        certain restricted stock units were not met and the related restricted
        stock units were forfeited; and</FONT>
        <LI><FONT face=serif size=2>the grant-date fair value of stock options
        granted. The amount is calculated using the Black-Scholes option pricing
        model which incorporates weighted average assumptions of expected
        dividend yield, risk-free interest rate, expected volatility, and
        expected life.</FONT></LI></UL></TD></TR>
  <TR>
    <TD vAlign=top noWrap></TD>
    <TD vAlign=top noWrap></TD>
    <TD vAlign=top width="100%">&nbsp;</TD></TR>
  <TR>
    <TD vAlign=top noWrap><FONT face=serif size=2>(4)</FONT></TD>
    <TD vAlign=top noWrap></TD>
    <TD vAlign=top width="100%"><FONT face=serif size=2>Effective September 1,
      2008, Mr. Grubb terminated for &#147;good reason&#148; his employment as Executive
      Vice President and Chief Financial Officer. As result, all of his unvested
      restricted stock units were forfeited.</FONT></TD></TR>
  <TR>
    <TD vAlign=top colSpan=3>&nbsp;</TD></TR>
  <TR>
    <TD vAlign=top noWrap><FONT face=serif size=2>(5)</FONT></TD>
    <TD vAlign=top noWrap></TD>
    <TD vAlign=top width="100%"><FONT face=serif size=2>Mr. Zandman and Mr.
      Shoshani were eligible to receive restricted stock unit grants in 2008.
      However, to ensure that there were no unintended personal Israeli tax
      consequences to Mr. Zandman and Mr. Shoshani, the Company had to make
      certain regulatory filings in Israel before such grants could be made to
      these executives. The approvals required by the Israeli tax authority have
      not yet been received. Accordingly, the grants to these executives will
      not be made until the Compensation Committee has acted upon the approval
      of the Israeli tax authority.</FONT></TD></TR></TABLE>
<P align=center><FONT face=serif size=2>36 </FONT></P>
<HR align=center width="100%" noShade SIZE=2>
<PAGE>
<P align=justify><B><FONT face=serif size=2>Outstanding Equity Awards at Fiscal
Year End </FONT></B></P>
<P align=justify><FONT face=serif size=2>The following table provides
information regarding unexercised stock options held by our named executive
officers, other than Mr. Grubb, as of December 31, 2008. All options held by Mr.
Grubb, vested and unvested, expired in 2008 following termination of his
employment. </FONT></P>
<TABLE cellSpacing=0 cellPadding=0 width="100%" border=0>

  <TR vAlign=bottom>
    <TD noWrap align=left width="57%">&nbsp;&nbsp;&nbsp;&nbsp; </TD>
    <TD noWrap align=center width="2%"></TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="29%" colSpan=12><B><FONT face=serif size=1>Option Awards</FONT></B> </TD>
    <TD noWrap align=center width="2%"></TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="9%" colSpan=4><B><FONT face=serif size=1>Stock Awards</FONT></B> </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="57%">&nbsp; </TD>
    <TD noWrap align=center width="2%"></TD>
    <TD noWrap align=center width="3%">&nbsp; </TD>
    <TD noWrap align=center width="2%"></TD>
    <TD noWrap align=center width="3%">&nbsp; </TD>
    <TD noWrap align=center width="2%"></TD>
    <TD noWrap align=center width="3%">&nbsp; </TD>
    <TD noWrap align=center width="2%"></TD>
    <TD noWrap align=center width="3%"><B><FONT face=serif size=1>Equity
      Incentive</FONT></B> </TD>
    <TD noWrap align=center width="2%"></TD>
    <TD noWrap align=center width="1%">&nbsp; </TD>
    <TD noWrap align=center width="3%">&nbsp; </TD>
    <TD noWrap align=center width="2%"></TD>
    <TD noWrap align=center width="3%">&nbsp; </TD>
    <TD noWrap align=center width="2%"></TD>
    <TD noWrap align=center width="3%">&nbsp; </TD>
    <TD noWrap align=center width="2%"></TD>
    <TD noWrap align=center width="1%">&nbsp; </TD>
    <TD noWrap align=center width="3%">&nbsp; </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="57%">&nbsp; </TD>
    <TD noWrap align=center width="2%"></TD>
    <TD noWrap align=center width="3%">&nbsp; </TD>
    <TD noWrap align=center width="2%"></TD>
    <TD noWrap align=center width="3%">&nbsp; </TD>
    <TD noWrap align=center width="2%"></TD>
    <TD noWrap align=center width="3%">&nbsp; </TD>
    <TD noWrap align=center width="2%"></TD>
    <TD noWrap align=center width="3%"><B><FONT face=serif size=1>Plan
      Awards:</FONT></B> </TD>
    <TD noWrap align=center width="2%"></TD>
    <TD noWrap align=center width="1%">&nbsp; </TD>
    <TD noWrap align=center width="3%">&nbsp; </TD>
    <TD noWrap align=center width="2%"></TD>
    <TD noWrap align=center width="3%">&nbsp; </TD>
    <TD noWrap align=center width="2%"></TD>
    <TD noWrap align=center width="3%">&nbsp; </TD>
    <TD noWrap align=center width="2%"></TD>
    <TD noWrap align=center width="4%" colSpan=2>&nbsp; &nbsp; </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="57%">&nbsp; </TD>
    <TD noWrap align=center width="2%"></TD>
    <TD noWrap align=center width="3%">&nbsp; </TD>
    <TD noWrap align=center width="2%"></TD>
    <TD noWrap align=center width="3%">&nbsp; </TD>
    <TD noWrap align=center width="2%"></TD>
    <TD noWrap align=center width="3%">&nbsp; </TD>
    <TD noWrap align=center width="2%"></TD>
    <TD noWrap align=center width="3%"><B><FONT face=serif size=1>Number
      of</FONT></B> </TD>
    <TD noWrap align=center width="2%"></TD>
    <TD noWrap align=center width="1%">&nbsp; </TD>
    <TD noWrap align=center width="3%">&nbsp; </TD>
    <TD noWrap align=center width="2%"></TD>
    <TD noWrap align=center width="3%">&nbsp; </TD>
    <TD noWrap align=center width="2%"></TD>
    <TD noWrap align=center width="3%">&nbsp; </TD>
    <TD noWrap align=center width="2%"></TD>
    <TD noWrap align=center width="4%" colSpan=2><STRONG><FONT size=1>Market
      Value</FONT></STRONG> </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="57%">&nbsp; </TD>
    <TD noWrap align=center width="2%"></TD>
    <TD noWrap align=center width="3%">&nbsp; </TD>
    <TD noWrap align=center width="2%"></TD>
    <TD noWrap align=center width="3%"><B><FONT face=serif size=1>Number
      of</FONT></B> </TD>
    <TD noWrap align=center width="2%"></TD>
    <TD noWrap align=center width="3%">&nbsp; </TD>
    <TD noWrap align=center width="2%"></TD>
    <TD noWrap align=center width="3%"><B><FONT face=serif size=1>Securities</FONT></B> </TD>
    <TD noWrap align=center width="2%"></TD>
    <TD noWrap align=center width="1%">&nbsp; </TD>
    <TD noWrap align=center width="3%">&nbsp; </TD>
    <TD noWrap align=center width="2%"></TD>
    <TD noWrap align=center width="3%">&nbsp; </TD>
    <TD noWrap align=center width="2%"></TD>
    <TD noWrap align=center width="3%">&nbsp; </TD>
    <TD noWrap align=center width="2%"></TD>
    <TD noWrap align=center width="4%" colSpan=2><FONT size=1><STRONG>of
      Shares</STRONG></FONT><FONT size=3> </FONT></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="57%">&nbsp; </TD>
    <TD noWrap align=center width="2%"></TD>
    <TD noWrap align=center width="3%">&nbsp; </TD>
    <TD noWrap align=center width="2%"></TD>
    <TD noWrap align=center width="3%"><B><FONT face=serif size=1>Securities</FONT></B> </TD>
    <TD noWrap align=center width="2%"></TD>
    <TD noWrap align=center width="3%"><B><FONT face=serif size=1>Number of
      Securities</FONT></B> </TD>
    <TD noWrap align=center width="2%"></TD>
    <TD noWrap align=center width="3%"><B><FONT face=serif size=1>Underlying</FONT></B> </TD>
    <TD noWrap align=center width="2%"></TD>
    <TD noWrap align=center width="1%">&nbsp; </TD>
    <TD noWrap align=center width="3%">&nbsp; </TD>
    <TD noWrap align=center width="2%"></TD>
    <TD noWrap align=center width="3%">&nbsp; </TD>
    <TD noWrap align=center width="2%"></TD>
    <TD noWrap align=center width="3%"><B><FONT face=serif size=1>Number of
      Shares</FONT></B> </TD>
    <TD noWrap align=center width="2%"></TD>
    <TD noWrap align=center width="4%" colSpan=2><FONT size=3><FONT size=1><STRONG>or Units of</STRONG></FONT><FONT size=3>
  </FONT></FONT></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="57%">&nbsp; </TD>
    <TD noWrap align=center width="2%"></TD>
    <TD noWrap align=center width="3%">&nbsp; </TD>
    <TD noWrap align=center width="2%"></TD>
    <TD noWrap align=center width="3%"><B><FONT face=serif size=1>Underlying</FONT></B> </TD>
    <TD noWrap align=center width="2%"></TD>
    <TD noWrap align=center width="3%"><B><FONT face=serif size=1>Underlying
      Unexercised</FONT></B> </TD>
    <TD noWrap align=center width="2%"></TD>
    <TD noWrap align=center width="3%"><B><FONT face=serif size=1>Unexercised</FONT></B> </TD>
    <TD noWrap align=center width="2%"></TD>
    <TD noWrap align=center width="4%" colSpan=2><B><FONT face=serif size=1>Option</FONT></B> </TD>
    <TD noWrap align=center width="2%"></TD>
    <TD noWrap align=center width="3%">&nbsp; </TD>
    <TD noWrap align=center width="2%"></TD>
    <TD noWrap align=center width="3%"><B><FONT face=serif size=1>or Units of
      Stock</FONT></B> </TD>
    <TD noWrap align=center width="2%"></TD>
    <TD noWrap align=center width="4%" colSpan=2><FONT size=3><STRONG><FONT size=1>Stock That</FONT></STRONG> </FONT></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="57%">&nbsp; </TD>
    <TD noWrap align=center width="2%"></TD>
    <TD noWrap align=center width="3%">&nbsp; </TD>
    <TD noWrap align=center width="2%"></TD>
    <TD noWrap align=center width="3%"><B><FONT face=serif size=1>Unexercised
      Options</FONT></B> </TD>
    <TD noWrap align=center width="2%"></TD>
    <TD noWrap align=center width="3%"><B><FONT face=serif size=1>Options
      (#)</FONT></B> </TD>
    <TD noWrap align=center width="2%"></TD>
    <TD noWrap align=center width="3%"><B><FONT face=serif size=1>Unearned
      Options</FONT></B> </TD>
    <TD noWrap align=center width="2%"></TD>
    <TD noWrap align=center width="4%" colSpan=2><B><FONT face=serif size=1>Exercise Price</FONT></B> </TD>
    <TD noWrap align=center width="2%"></TD>
    <TD noWrap align=center width="3%"><B><FONT face=serif size=1>Option</FONT></B> </TD>
    <TD noWrap align=center width="2%">&nbsp;</TD>
    <TD noWrap align=center width="3%"><B><FONT face=serif size=1>That Have
      Not</FONT></B> </TD>
    <TD noWrap align=center width="2%"></TD>
    <TD noWrap align=center width="4%" colSpan=2><FONT size=1><STRONG>Have
      Not</STRONG></FONT><FONT size=3> </FONT></TD></TR>
  <TR vAlign=bottom>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="57%"><B><FONT face=serif size=1>Name</FONT></B> </TD>
    <TD noWrap align=center width="2%">&nbsp;&nbsp; </TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="3%"><B><FONT face=serif size=1>Grant Date </FONT></B><FONT face=serif size=1>(1)</FONT> </TD>
    <TD noWrap align=center width="2%">&nbsp;&nbsp; </TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="3%"><B><FONT face=serif size=1>(#) Exerciseable</FONT></B> </TD>
    <TD noWrap align=center width="2%">&nbsp;&nbsp; </TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="3%"><B><FONT face=serif size=1>Unexerciseable</FONT></B> </TD>
    <TD noWrap align=center width="2%">&nbsp;&nbsp; </TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="3%"><B><FONT face=serif size=1>(#)</FONT></B> </TD>
    <TD noWrap align=center width="2%">&nbsp;&nbsp; </TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="4%" colSpan=2><B><FONT face=serif size=1>($)</FONT></B> </TD>
    <TD noWrap align=center width="2%">&nbsp;&nbsp; </TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="3%"><B><FONT face=serif size=1>Expiration Date</FONT></B> </TD>
    <TD noWrap align=center width="2%">&nbsp;&nbsp; </TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="3%"><B><FONT face=serif size=1>Vested (#)</FONT></B> </TD>
    <TD noWrap align=center width="2%">&nbsp;&nbsp; </TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="4%" colSpan=2><B><FONT face=serif size=1>&nbsp;Vested ($)</FONT></B> </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="57%" bgColor=#c0c0c0><FONT face=serif size=1>Dr. Felix Zandman</FONT> </TD>
    <TD noWrap align=right width="2%" bgColor=#c0c0c0>&nbsp;</TD>
    <TD noWrap align=right width="3%" bgColor=#c0c0c0><FONT face=serif size=1>10/8/1999</FONT> </TD>
    <TD noWrap align=right width="2%" bgColor=#c0c0c0></TD>
    <TD noWrap align=right width="3%" bgColor=#c0c0c0><FONT face=serif size=1>40,500</FONT> </TD>
    <TD noWrap align=right width="2%" bgColor=#c0c0c0></TD>
    <TD noWrap align=right width="3%" bgColor=#c0c0c0><FONT face=serif size=1>&#151;</FONT> </TD>
    <TD noWrap align=right width="2%" bgColor=#c0c0c0>&nbsp;</TD>
    <TD noWrap align=right width="3%" bgColor=#c0c0c0><FONT face=serif size=1>&#151;</FONT> </TD>
    <TD noWrap align=left width="2%" bgColor=#c0c0c0>&nbsp;</TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0><FONT face=serif size=1>$</FONT> </TD>
    <TD noWrap align=right width="3%" bgColor=#c0c0c0><FONT face=serif size=1>15.33</FONT> </TD>
    <TD noWrap align=right width="2%" bgColor=#c0c0c0></TD>
    <TD noWrap align=right width="3%" bgColor=#c0c0c0><FONT face=serif size=1>10/8/2009</FONT> </TD>
    <TD noWrap align=right width="2%" bgColor=#c0c0c0></TD>
    <TD noWrap align=right width="3%" bgColor=#c0c0c0><FONT face=serif size=1>&#151;</FONT> </TD>
    <TD noWrap align=left width="2%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0>&nbsp; </TD>
    <TD noWrap align=right width="3%" bgColor=#c0c0c0><FONT face=serif size=1>&#151;</FONT> </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="57%">&nbsp; </TD>
    <TD noWrap align=right width="2%"></TD>
    <TD noWrap align=right width="3%"><FONT face=serif size=1>10/12/2000</FONT> </TD>
    <TD noWrap align=right width="2%"></TD>
    <TD noWrap align=right width="3%"><FONT face=serif size=1>27,000</FONT>
</TD>
    <TD noWrap align=right width="2%">&nbsp;</TD>
    <TD noWrap align=right width="3%"><FONT face=serif size=1>&#151;</FONT> </TD>
    <TD noWrap align=right width="2%"></TD>
    <TD noWrap align=right width="3%"><FONT face=serif size=1>&#151;</FONT> </TD>
    <TD noWrap align=left width="2%"></TD>
    <TD noWrap align=left width="1%"><FONT face=serif size=1>$</FONT> </TD>
    <TD noWrap align=right width="3%"><FONT face=serif size=1>25.13</FONT> </TD>
    <TD noWrap align=right width="2%">&nbsp;</TD>
    <TD noWrap align=right width="3%"><FONT face=serif size=1>10/12/2010</FONT> </TD>
    <TD noWrap align=right width="2%"></TD>
    <TD noWrap align=right width="3%"><FONT face=serif size=1>&#151;</FONT> </TD>
    <TD noWrap align=left width="2%"></TD>
    <TD noWrap align=left width="1%">&nbsp; </TD>
    <TD noWrap align=right width="3%"><FONT face=serif size=1>&#151;</FONT> </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="57%" bgColor=#c0c0c0>&nbsp; </TD>
    <TD noWrap align=right width="2%" bgColor=#c0c0c0></TD>
    <TD noWrap align=right width="3%" bgColor=#c0c0c0><FONT face=serif size=1>5/22/2007</FONT> </TD>
    <TD noWrap align=right width="2%" bgColor=#c0c0c0>&nbsp;</TD>
    <TD noWrap align=right width="3%" bgColor=#c0c0c0><FONT face=serif size=1>35,000</FONT> </TD>
    <TD noWrap align=right width="2%" bgColor=#c0c0c0></TD>
    <TD noWrap align=right width="3%" bgColor=#c0c0c0><FONT face=serif size=1>175,000</FONT> </TD>
    <TD noWrap align=right width="2%" bgColor=#c0c0c0></TD>
    <TD noWrap align=right width="3%" bgColor=#c0c0c0><FONT face=serif size=1>&#151;</FONT> </TD>
    <TD noWrap align=left width="2%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0><FONT face=serif size=1>$</FONT> </TD>
    <TD noWrap align=right width="3%" bgColor=#c0c0c0><FONT face=serif size=1>18.00</FONT> </TD>
    <TD noWrap align=right width="2%" bgColor=#c0c0c0></TD>
    <TD noWrap align=right width="3%" bgColor=#c0c0c0><FONT face=serif size=1>5/22/2017</FONT> </TD>
    <TD noWrap align=right width="2%" bgColor=#c0c0c0>&nbsp;</TD>
    <TD noWrap align=right width="3%" bgColor=#c0c0c0><FONT face=serif size=1>&#151;</FONT> </TD>
    <TD noWrap align=left width="2%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0>&nbsp;</TD>
    <TD noWrap align=right width="3%" bgColor=#c0c0c0><FONT face=serif size=1>&#151;</FONT> </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="57%">&nbsp; </TD>
    <TD noWrap align=right width="2%"></TD>
    <TD noWrap align=right width="3%"><FONT face=serif size=1>5/28/2008</FONT>
    </TD>
    <TD noWrap align=right width="2%"></TD>
    <TD noWrap align=right width="3%"><FONT face=serif size=1>&#151;</FONT> </TD>
    <TD noWrap align=right width="2%"></TD>
    <TD noWrap align=right width="3%"><FONT face=serif size=1>&#151;</FONT> </TD>
    <TD noWrap align=right width="2%"></TD>
    <TD noWrap align=right width="3%"><FONT face=serif size=1>&#151;</FONT> </TD>
    <TD noWrap align=left width="2%"></TD>
    <TD noWrap align=left width="1%">&nbsp; </TD>
    <TD noWrap align=right width="3%"><FONT face=serif size=1>&#151;</FONT> </TD>
    <TD noWrap align=right width="2%"></TD>
    <TD noWrap align=right width="3%"><FONT face=serif size=1>&#151;</FONT> </TD>
    <TD noWrap align=right width="2%"></TD>
    <TD noWrap align=right width="3%"><FONT face=serif size=1>70,000</FONT>
</TD>
    <TD noWrap align=left width="2%">&nbsp;</TD>
    <TD noWrap align=left width="1%"><FONT face=serif size=1>$</FONT> </TD>
    <TD noWrap align=right width="3%"><FONT face=serif size=1>239,400</FONT>
    </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="57%" bgColor=#c0c0c0><B><FONT face=serif size=1>Total</FONT></B>&nbsp; </TD>
    <TD noWrap align=left width="2%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="3%" bgColor=#c0c0c0>&nbsp; </TD>
    <TD noWrap align=right width="2%" bgColor=#c0c0c0></TD>
    <TD noWrap align=right width="3%" bgColor=#c0c0c0><B><FONT face=serif size=1>102,500</FONT></B> </TD>
    <TD noWrap align=right width="2%" bgColor=#c0c0c0></TD>
    <TD noWrap align=right width="3%" bgColor=#c0c0c0><B><FONT face=serif size=1>175,000</FONT></B> </TD>
    <TD noWrap align=right width="2%" bgColor=#c0c0c0></TD>
    <TD noWrap align=right width="3%" bgColor=#c0c0c0><FONT face=serif size=1>&#151;</FONT> </TD>
    <TD noWrap align=left width="2%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0>&nbsp; </TD>
    <TD noWrap align=left width="3%" bgColor=#c0c0c0>&nbsp; </TD>
    <TD noWrap align=left width="2%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="3%" bgColor=#c0c0c0>&nbsp; </TD>
    <TD noWrap align=right width="2%" bgColor=#c0c0c0></TD>
    <TD noWrap align=right width="3%" bgColor=#c0c0c0><B><FONT face=serif size=1>70,000</FONT></B> </TD>
    <TD noWrap align=left width="2%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0><B><FONT face=serif size=1>$</FONT></B> </TD>
    <TD noWrap align=right width="3%" bgColor=#c0c0c0><B><FONT face=serif size=1>239,400</FONT></B> </TD></TR>
  <TR>
    <TD width="99%" colSpan=19>&nbsp; </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="57%" bgColor=#c0c0c0><FONT face=serif size=1>Dr. Gerald Paul</FONT> </TD>
    <TD noWrap align=right width="2%" bgColor=#c0c0c0></TD>
    <TD noWrap align=right width="3%" bgColor=#c0c0c0><FONT face=serif size=1>10/8/1999</FONT> </TD>
    <TD noWrap align=right width="2%" bgColor=#c0c0c0></TD>
    <TD noWrap align=right width="3%" bgColor=#c0c0c0><FONT face=serif size=1>27,000</FONT> </TD>
    <TD noWrap align=right width="2%" bgColor=#c0c0c0></TD>
    <TD noWrap align=right width="3%" bgColor=#c0c0c0><FONT face=serif size=1>&#151;</FONT> </TD>
    <TD noWrap align=right width="2%" bgColor=#c0c0c0></TD>
    <TD noWrap align=right width="3%" bgColor=#c0c0c0><FONT face=serif size=1>&#151;</FONT> </TD>
    <TD noWrap align=left width="2%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0><FONT face=serif size=1>$</FONT> </TD>
    <TD noWrap align=right width="3%" bgColor=#c0c0c0><FONT face=serif size=1>15.33</FONT> </TD>
    <TD noWrap align=right width="2%" bgColor=#c0c0c0></TD>
    <TD noWrap align=right width="3%" bgColor=#c0c0c0><FONT face=serif size=1>10/8/2009</FONT> </TD>
    <TD noWrap align=right width="2%" bgColor=#c0c0c0></TD>
    <TD noWrap align=right width="3%" bgColor=#c0c0c0><FONT face=serif size=1>&#151;</FONT> </TD>
    <TD noWrap align=left width="2%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0>&nbsp; </TD>
    <TD noWrap align=right width="3%" bgColor=#c0c0c0><FONT face=serif size=1>&#151;</FONT> </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="57%">&nbsp; </TD>
    <TD noWrap align=right width="2%"></TD>
    <TD noWrap align=right width="3%"><FONT face=serif size=1>10/12/2000</FONT> </TD>
    <TD noWrap align=right width="2%"></TD>
    <TD noWrap align=right width="3%"><FONT face=serif size=1>18,000</FONT>
</TD>
    <TD noWrap align=right width="2%"></TD>
    <TD noWrap align=right width="3%"><FONT face=serif size=1>&#151;</FONT> </TD>
    <TD noWrap align=right width="2%"></TD>
    <TD noWrap align=right width="3%"><FONT face=serif size=1>&#151;</FONT> </TD>
    <TD noWrap align=left width="2%"></TD>
    <TD noWrap align=left width="1%"><FONT face=serif size=1>$</FONT> </TD>
    <TD noWrap align=right width="3%"><FONT face=serif size=1>25.13</FONT> </TD>
    <TD noWrap align=right width="2%"></TD>
    <TD noWrap align=right width="3%"><FONT face=serif size=1>10/12/2010</FONT> </TD>
    <TD noWrap align=right width="2%"></TD>
    <TD noWrap align=right width="3%"><FONT face=serif size=1>&#151;</FONT> </TD>
    <TD noWrap align=left width="2%"></TD>
    <TD noWrap align=left width="1%">&nbsp; </TD>
    <TD noWrap align=right width="3%"><FONT face=serif size=1>&#151;</FONT> </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="57%" bgColor=#c0c0c0>&nbsp; </TD>
    <TD noWrap align=right width="2%" bgColor=#c0c0c0></TD>
    <TD noWrap align=right width="3%" bgColor=#c0c0c0><FONT face=serif size=1>5/22/2007</FONT> </TD>
    <TD noWrap align=right width="2%" bgColor=#c0c0c0></TD>
    <TD noWrap align=right width="3%" bgColor=#c0c0c0><FONT face=serif size=1>23,334</FONT> </TD>
    <TD noWrap align=right width="2%" bgColor=#c0c0c0></TD>
    <TD noWrap align=right width="3%" bgColor=#c0c0c0><FONT face=serif size=1>116,666</FONT> </TD>
    <TD noWrap align=right width="2%" bgColor=#c0c0c0></TD>
    <TD noWrap align=right width="3%" bgColor=#c0c0c0><FONT face=serif size=1>&#151;</FONT> </TD>
    <TD noWrap align=left width="2%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0><FONT face=serif size=1>$</FONT> </TD>
    <TD noWrap align=right width="3%" bgColor=#c0c0c0><FONT face=serif size=1>18.00</FONT> </TD>
    <TD noWrap align=right width="2%" bgColor=#c0c0c0></TD>
    <TD noWrap align=right width="3%" bgColor=#c0c0c0><FONT face=serif size=1>5/22/2017</FONT> </TD>
    <TD noWrap align=right width="2%" bgColor=#c0c0c0></TD>
    <TD noWrap align=right width="3%" bgColor=#c0c0c0><FONT face=serif size=1>&#151;</FONT> </TD>
    <TD noWrap align=left width="2%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0>&nbsp; </TD>
    <TD noWrap align=right width="3%" bgColor=#c0c0c0><FONT face=serif size=1>&#151;</FONT> </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="57%">&nbsp; </TD>
    <TD noWrap align=right width="2%"></TD>
    <TD noWrap align=right width="3%"><FONT face=serif size=1>5/28/2008</FONT>
    </TD>
    <TD noWrap align=right width="2%"></TD>
    <TD noWrap align=right width="3%"><FONT face=serif size=1>&#151;</FONT> </TD>
    <TD noWrap align=right width="2%"></TD>
    <TD noWrap align=right width="3%"><FONT face=serif size=1>&#151;</FONT> </TD>
    <TD noWrap align=right width="2%"></TD>
    <TD noWrap align=right width="3%"><FONT face=serif size=1>&#151;</FONT> </TD>
    <TD noWrap align=left width="2%"></TD>
    <TD noWrap align=left width="1%">&nbsp; </TD>
    <TD noWrap align=right width="3%"><FONT face=serif size=1>&#151;</FONT> </TD>
    <TD noWrap align=right width="2%"></TD>
    <TD noWrap align=right width="3%"><FONT face=serif size=1>&#151;</FONT> </TD>
    <TD noWrap align=right width="2%"></TD>
    <TD noWrap align=right width="3%"><FONT face=serif size=1>46,667</FONT>
</TD>
    <TD noWrap align=left width="2%"></TD>
    <TD noWrap align=left width="1%"><FONT face=serif size=1>$</FONT> </TD>
    <TD noWrap align=right width="3%"><FONT face=serif size=1>159,601</FONT>
    </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="57%" bgColor=#c0c0c0><B><FONT face=serif size=1>Total</FONT></B>&nbsp; </TD>
    <TD noWrap align=left width="2%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="3%" bgColor=#c0c0c0>&nbsp; </TD>
    <TD noWrap align=right width="2%" bgColor=#c0c0c0></TD>
    <TD noWrap align=right width="3%" bgColor=#c0c0c0><B><FONT face=serif size=1>68,334</FONT></B> </TD>
    <TD noWrap align=right width="2%" bgColor=#c0c0c0></TD>
    <TD noWrap align=right width="3%" bgColor=#c0c0c0><B><FONT face=serif size=1>116,666</FONT></B> </TD>
    <TD noWrap align=right width="2%" bgColor=#c0c0c0></TD>
    <TD noWrap align=right width="3%" bgColor=#c0c0c0><FONT face=serif size=1>&#151;</FONT> </TD>
    <TD noWrap align=left width="2%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0>&nbsp; </TD>
    <TD noWrap align=left width="3%" bgColor=#c0c0c0>&nbsp; </TD>
    <TD noWrap align=left width="2%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="3%" bgColor=#c0c0c0>&nbsp; </TD>
    <TD noWrap align=right width="2%" bgColor=#c0c0c0></TD>
    <TD noWrap align=right width="3%" bgColor=#c0c0c0><B><FONT face=serif size=1>46,667</FONT></B> </TD>
    <TD noWrap align=left width="2%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0><B><FONT face=serif size=1>$</FONT></B> </TD>
    <TD noWrap align=right width="3%" bgColor=#c0c0c0><B><FONT face=serif size=1>159,601</FONT></B> </TD></TR>
  <TR>
    <TD width="99%" colSpan=19>&nbsp; </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="57%" bgColor=#c0c0c0><FONT face=serif size=1>Dr. Lior Yahalomi</FONT> </TD>
    <TD noWrap align=right width="2%" bgColor=#c0c0c0></TD>
    <TD noWrap align=right width="3%" bgColor=#c0c0c0><FONT face=serif size=1>6/26/2006</FONT> </TD>
    <TD noWrap align=right width="2%" bgColor=#c0c0c0></TD>
    <TD noWrap align=right width="3%" bgColor=#c0c0c0><FONT face=serif size=1>6,668</FONT> </TD>
    <TD noWrap align=right width="2%" bgColor=#c0c0c0></TD>
    <TD noWrap align=right width="3%" bgColor=#c0c0c0><FONT face=serif size=1>13,332</FONT> </TD>
    <TD noWrap align=right width="2%" bgColor=#c0c0c0></TD>
    <TD noWrap align=right width="3%" bgColor=#c0c0c0><FONT face=serif size=1>&#151;</FONT> </TD>
    <TD noWrap align=left width="2%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0><FONT face=serif size=1>$</FONT> </TD>
    <TD noWrap align=right width="3%" bgColor=#c0c0c0><FONT face=serif size=1>15.83</FONT> </TD>
    <TD noWrap align=right width="2%" bgColor=#c0c0c0></TD>
    <TD noWrap align=right width="3%" bgColor=#c0c0c0><FONT face=serif size=1>6/26/2016</FONT> </TD>
    <TD noWrap align=right width="2%" bgColor=#c0c0c0></TD>
    <TD noWrap align=right width="3%" bgColor=#c0c0c0><FONT face=serif size=1>&#151;</FONT> </TD>
    <TD noWrap align=left width="2%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0>&nbsp; </TD>
    <TD noWrap align=right width="3%" bgColor=#c0c0c0><FONT face=serif size=1>&#151;</FONT> </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="57%">&nbsp; </TD>
    <TD noWrap align=right width="2%"></TD>
    <TD noWrap align=right width="3%"><FONT face=serif size=1>6/26/2007</FONT>
    </TD>
    <TD noWrap align=right width="2%"></TD>
    <TD noWrap align=right width="3%"><FONT face=serif size=1>4,167</FONT> </TD>
    <TD noWrap align=right width="2%"></TD>
    <TD noWrap align=right width="3%"><FONT face=serif size=1>20,833</FONT>
</TD>
    <TD noWrap align=right width="2%"></TD>
    <TD noWrap align=right width="3%"><FONT face=serif size=1>&#151;</FONT> </TD>
    <TD noWrap align=left width="2%"></TD>
    <TD noWrap align=left width="1%"><FONT face=serif size=1>$</FONT> </TD>
    <TD noWrap align=right width="3%"><FONT face=serif size=1>15.61</FONT> </TD>
    <TD noWrap align=right width="2%"></TD>
    <TD noWrap align=right width="3%"><FONT face=serif size=1>6/26/2017</FONT>
    </TD>
    <TD noWrap align=right width="2%"></TD>
    <TD noWrap align=right width="3%"><FONT face=serif size=1>&#151;</FONT> </TD>
    <TD noWrap align=left width="2%"></TD>
    <TD noWrap align=left width="1%">&nbsp; </TD>
    <TD noWrap align=right width="3%"><FONT face=serif size=1>&#151;</FONT> </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="57%" bgColor=#c0c0c0>&nbsp; </TD>
    <TD noWrap align=right width="2%" bgColor=#c0c0c0></TD>
    <TD noWrap align=right width="3%" bgColor=#c0c0c0><FONT face=serif size=1>8/18/2008</FONT> </TD>
    <TD noWrap align=right width="2%" bgColor=#c0c0c0></TD>
    <TD noWrap align=right width="3%" bgColor=#c0c0c0><FONT face=serif size=1>&#151;</FONT> </TD>
    <TD noWrap align=right width="2%" bgColor=#c0c0c0></TD>
    <TD noWrap align=right width="3%" bgColor=#c0c0c0><FONT face=serif size=1>30,000</FONT> </TD>
    <TD noWrap align=right width="2%" bgColor=#c0c0c0></TD>
    <TD noWrap align=right width="3%" bgColor=#c0c0c0><FONT face=serif size=1>&#151;</FONT> </TD>
    <TD noWrap align=left width="2%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0><FONT face=serif size=1>$</FONT> </TD>
    <TD noWrap align=right width="3%" bgColor=#c0c0c0><FONT face=serif size=1>8.72</FONT> </TD>
    <TD noWrap align=right width="2%" bgColor=#c0c0c0></TD>
    <TD noWrap align=right width="3%" bgColor=#c0c0c0><FONT face=serif size=1>8/18/2018</FONT> </TD>
    <TD noWrap align=right width="2%" bgColor=#c0c0c0></TD>
    <TD noWrap align=right width="3%" bgColor=#c0c0c0><FONT face=serif size=1>&#151;</FONT> </TD>
    <TD noWrap align=left width="2%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0>&nbsp; </TD>
    <TD noWrap align=right width="3%" bgColor=#c0c0c0><FONT face=serif size=1>&#151;</FONT> </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="57%"><B><FONT face=serif size=1>Total</FONT></B>&nbsp; </TD>
    <TD noWrap align=left width="2%"></TD>
    <TD noWrap align=left width="3%">&nbsp; </TD>
    <TD noWrap align=right width="2%"></TD>
    <TD noWrap align=right width="3%"><B><FONT face=serif size=1>10,835</FONT></B> </TD>
    <TD noWrap align=right width="2%"></TD>
    <TD noWrap align=right width="3%"><B><FONT face=serif size=1>64,165</FONT></B> </TD>
    <TD noWrap align=right width="2%"></TD>
    <TD noWrap align=right width="3%"><FONT face=serif size=1>&#151;</FONT> </TD>
    <TD noWrap align=left width="2%"></TD>
    <TD noWrap align=left width="1%">&nbsp; </TD>
    <TD noWrap align=left width="3%">&nbsp; </TD>
    <TD noWrap align=left width="2%"></TD>
    <TD noWrap align=left width="3%">&nbsp; </TD>
    <TD noWrap align=right width="2%"></TD>
    <TD noWrap align=right width="3%"><FONT face=serif size=1>&#151;</FONT> </TD>
    <TD noWrap align=left width="2%"></TD>
    <TD noWrap align=left width="1%">&nbsp; </TD>
    <TD noWrap align=left width="3%">&nbsp; </TD></TR>
  <TR>
    <TD width="99%" colSpan=19>&nbsp; </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="57%" bgColor=#c0c0c0><FONT face=serif size=1>Marc Zandman</FONT>&nbsp; </TD>
    <TD noWrap align=right width="2%" bgColor=#c0c0c0></TD>
    <TD noWrap align=right width="3%" bgColor=#c0c0c0><FONT face=serif size=1>10/8/1999</FONT> </TD>
    <TD noWrap align=right width="2%" bgColor=#c0c0c0></TD>
    <TD noWrap align=right width="3%" bgColor=#c0c0c0><FONT face=serif size=1>18,000</FONT> </TD>
    <TD noWrap align=right width="2%" bgColor=#c0c0c0></TD>
    <TD noWrap align=right width="3%" bgColor=#c0c0c0><FONT face=serif size=1>&#151;</FONT> </TD>
    <TD noWrap align=right width="2%" bgColor=#c0c0c0></TD>
    <TD noWrap align=right width="3%" bgColor=#c0c0c0><FONT face=serif size=1>&#151;</FONT> </TD>
    <TD noWrap align=left width="2%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0><FONT face=serif size=1>$</FONT> </TD>
    <TD noWrap align=right width="3%" bgColor=#c0c0c0><FONT face=serif size=1>15.33</FONT> </TD>
    <TD noWrap align=right width="2%" bgColor=#c0c0c0></TD>
    <TD noWrap align=right width="3%" bgColor=#c0c0c0><FONT face=serif size=1>10/8/2009</FONT> </TD>
    <TD noWrap align=right width="2%" bgColor=#c0c0c0></TD>
    <TD noWrap align=right width="3%" bgColor=#c0c0c0><FONT face=serif size=1>&#151;</FONT> </TD>
    <TD noWrap align=left width="2%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0>&nbsp; </TD>
    <TD noWrap align=right width="3%" bgColor=#c0c0c0><FONT face=serif size=1>&#151;</FONT> </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="57%">&nbsp; </TD>
    <TD noWrap align=right width="2%"></TD>
    <TD noWrap align=right width="3%"><FONT face=serif size=1>10/12/2000</FONT> </TD>
    <TD noWrap align=right width="2%"></TD>
    <TD noWrap align=right width="3%"><FONT face=serif size=1>12,000</FONT>
</TD>
    <TD noWrap align=right width="2%"></TD>
    <TD noWrap align=right width="3%"><FONT face=serif size=1>&#151;</FONT> </TD>
    <TD noWrap align=right width="2%"></TD>
    <TD noWrap align=right width="3%"><FONT face=serif size=1>&#151;</FONT> </TD>
    <TD noWrap align=left width="2%"></TD>
    <TD noWrap align=left width="1%"><FONT face=serif size=1>$</FONT> </TD>
    <TD noWrap align=right width="3%"><FONT face=serif size=1>25.13</FONT> </TD>
    <TD noWrap align=right width="2%"></TD>
    <TD noWrap align=right width="3%"><FONT face=serif size=1>10/12/2010</FONT> </TD>
    <TD noWrap align=right width="2%"></TD>
    <TD noWrap align=right width="3%"><FONT face=serif size=1>&#151;</FONT> </TD>
    <TD noWrap align=left width="2%"></TD>
    <TD noWrap align=left width="1%">&nbsp; </TD>
    <TD noWrap align=right width="3%"><FONT face=serif size=1>&#151;</FONT> </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="57%" bgColor=#c0c0c0>&nbsp; </TD>
    <TD noWrap align=right width="2%" bgColor=#c0c0c0></TD>
    <TD noWrap align=right width="3%" bgColor=#c0c0c0><FONT face=serif size=1>2/27/2007</FONT> </TD>
    <TD noWrap align=right width="2%" bgColor=#c0c0c0></TD>
    <TD noWrap align=right width="3%" bgColor=#c0c0c0><FONT face=serif size=1>4,167</FONT> </TD>
    <TD noWrap align=right width="2%" bgColor=#c0c0c0></TD>
    <TD noWrap align=right width="3%" bgColor=#c0c0c0><FONT face=serif size=1>20,833</FONT> </TD>
    <TD noWrap align=right width="2%" bgColor=#c0c0c0></TD>
    <TD noWrap align=right width="3%" bgColor=#c0c0c0><FONT face=serif size=1>&#151;</FONT> </TD>
    <TD noWrap align=left width="2%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0><FONT face=serif size=1>$</FONT> </TD>
    <TD noWrap align=right width="3%" bgColor=#c0c0c0><FONT face=serif size=1>14.25</FONT> </TD>
    <TD noWrap align=right width="2%" bgColor=#c0c0c0></TD>
    <TD noWrap align=right width="3%" bgColor=#c0c0c0><FONT face=serif size=1>2/27/2017</FONT> </TD>
    <TD noWrap align=right width="2%" bgColor=#c0c0c0></TD>
    <TD noWrap align=right width="3%" bgColor=#c0c0c0><FONT face=serif size=1>&#151;</FONT> </TD>
    <TD noWrap align=left width="2%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0>&nbsp; </TD>
    <TD noWrap align=right width="3%" bgColor=#c0c0c0><FONT face=serif size=1>&#151;</FONT> </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="57%"><B><FONT face=serif size=1>Total</FONT></B>&nbsp; </TD>
    <TD noWrap align=left width="2%"></TD>
    <TD noWrap align=left width="3%">&nbsp; </TD>
    <TD noWrap align=right width="2%"></TD>
    <TD noWrap align=right width="3%"><B><FONT face=serif size=1>34,167</FONT></B> </TD>
    <TD noWrap align=right width="2%"></TD>
    <TD noWrap align=right width="3%"><B><FONT face=serif size=1>20,833</FONT></B> </TD>
    <TD noWrap align=left width="2%"></TD>
    <TD noWrap align=left width="3%">&nbsp; </TD>
    <TD noWrap align=left width="2%"></TD>
    <TD noWrap align=left width="1%">&nbsp; </TD>
    <TD noWrap align=left width="3%">&nbsp; </TD>
    <TD noWrap align=left width="2%"></TD>
    <TD noWrap align=left width="3%">&nbsp; </TD>
    <TD noWrap align=right width="2%"></TD>
    <TD noWrap align=right width="3%"><FONT face=serif size=1>&#151;</FONT> </TD>
    <TD noWrap align=left width="2%"></TD>
    <TD noWrap align=left width="1%">&nbsp; </TD>
    <TD noWrap align=left width="3%">&nbsp; </TD></TR>
  <TR>
    <TD width="99%" colSpan=19>&nbsp; </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="57%" bgColor=#c0c0c0><FONT face=serif size=1>Ziv Shoshani</FONT>&nbsp; </TD>
    <TD noWrap align=right width="2%" bgColor=#c0c0c0></TD>
    <TD noWrap align=right width="3%" bgColor=#c0c0c0><FONT face=serif size=1>10/8/1999</FONT> </TD>
    <TD noWrap align=right width="2%" bgColor=#c0c0c0></TD>
    <TD noWrap align=right width="3%" bgColor=#c0c0c0><FONT face=serif size=1>18,000</FONT> </TD>
    <TD noWrap align=right width="2%" bgColor=#c0c0c0></TD>
    <TD noWrap align=right width="3%" bgColor=#c0c0c0><FONT face=serif size=1>&#151;</FONT> </TD>
    <TD noWrap align=right width="2%" bgColor=#c0c0c0></TD>
    <TD noWrap align=right width="3%" bgColor=#c0c0c0><FONT face=serif size=1>&#151;</FONT> </TD>
    <TD noWrap align=left width="2%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0><FONT face=serif size=1>$</FONT> </TD>
    <TD noWrap align=right width="3%" bgColor=#c0c0c0><FONT face=serif size=1>15.33</FONT> </TD>
    <TD noWrap align=right width="2%" bgColor=#c0c0c0></TD>
    <TD noWrap align=right width="3%" bgColor=#c0c0c0><FONT face=serif size=1>10/8/2009</FONT> </TD>
    <TD noWrap align=right width="2%" bgColor=#c0c0c0></TD>
    <TD noWrap align=right width="3%" bgColor=#c0c0c0><FONT face=serif size=1>&#151;</FONT> </TD>
    <TD noWrap align=left width="2%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0>&nbsp; </TD>
    <TD noWrap align=right width="3%" bgColor=#c0c0c0><FONT face=serif size=1>&#151;</FONT> </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="57%">&nbsp; </TD>
    <TD noWrap align=right width="2%"></TD>
    <TD noWrap align=right width="3%"><FONT face=serif size=1>10/12/2000</FONT> </TD>
    <TD noWrap align=right width="2%"></TD>
    <TD noWrap align=right width="3%"><FONT face=serif size=1>12,000</FONT>
</TD>
    <TD noWrap align=right width="2%"></TD>
    <TD noWrap align=right width="3%"><FONT face=serif size=1>&#151;</FONT> </TD>
    <TD noWrap align=right width="2%"></TD>
    <TD noWrap align=right width="3%"><FONT face=serif size=1>&#151;</FONT> </TD>
    <TD noWrap align=left width="2%"></TD>
    <TD noWrap align=left width="1%"><FONT face=serif size=1>$</FONT> </TD>
    <TD noWrap align=right width="3%"><FONT face=serif size=1>25.13</FONT> </TD>
    <TD noWrap align=right width="2%"></TD>
    <TD noWrap align=right width="3%"><FONT face=serif size=1>10/12/2010</FONT> </TD>
    <TD noWrap align=right width="2%"></TD>
    <TD noWrap align=right width="3%"><FONT face=serif size=1>&#151;</FONT> </TD>
    <TD noWrap align=left width="2%"></TD>
    <TD noWrap align=left width="1%">&nbsp; </TD>
    <TD noWrap align=right width="3%"><FONT face=serif size=1>&#151;</FONT> </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="57%" bgColor=#c0c0c0>&nbsp; </TD>
    <TD noWrap align=right width="2%" bgColor=#c0c0c0></TD>
    <TD noWrap align=right width="3%" bgColor=#c0c0c0><FONT face=serif size=1>2/27/2007</FONT> </TD>
    <TD noWrap align=right width="2%" bgColor=#c0c0c0></TD>
    <TD noWrap align=right width="3%" bgColor=#c0c0c0><FONT face=serif size=1>4,167</FONT> </TD>
    <TD noWrap align=right width="2%" bgColor=#c0c0c0></TD>
    <TD noWrap align=right width="3%" bgColor=#c0c0c0><FONT face=serif size=1>20,833</FONT> </TD>
    <TD noWrap align=right width="2%" bgColor=#c0c0c0></TD>
    <TD noWrap align=right width="3%" bgColor=#c0c0c0><FONT face=serif size=1>&#151;</FONT> </TD>
    <TD noWrap align=left width="2%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0><FONT face=serif size=1>$</FONT> </TD>
    <TD noWrap align=right width="3%" bgColor=#c0c0c0><FONT face=serif size=1>14.25</FONT> </TD>
    <TD noWrap align=right width="2%" bgColor=#c0c0c0></TD>
    <TD noWrap align=right width="3%" bgColor=#c0c0c0><FONT face=serif size=1>2/27/2017</FONT> </TD>
    <TD noWrap align=right width="2%" bgColor=#c0c0c0></TD>
    <TD noWrap align=right width="3%" bgColor=#c0c0c0><FONT face=serif size=1>&#151;</FONT> </TD>
    <TD noWrap align=left width="2%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0>&nbsp; </TD>
    <TD noWrap align=right width="3%" bgColor=#c0c0c0><FONT face=serif size=1>&#151;</FONT> </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="57%"><B><FONT face=serif size=1>Total</FONT></B>&nbsp; </TD>
    <TD noWrap align=left width="2%"></TD>
    <TD noWrap align=left width="3%">&nbsp; </TD>
    <TD noWrap align=right width="2%"></TD>
    <TD noWrap align=right width="3%"><B><FONT face=serif size=1>34,167</FONT></B> </TD>
    <TD noWrap align=right width="2%"></TD>
    <TD noWrap align=right width="3%"><B><FONT face=serif size=1>20,833</FONT></B> </TD>
    <TD noWrap align=right width="2%"></TD>
    <TD noWrap align=right width="3%"><FONT face=serif size=1>&#151;</FONT> </TD>
    <TD noWrap align=left width="2%"></TD>
    <TD noWrap align=left width="1%">&nbsp; </TD>
    <TD noWrap align=left width="3%">&nbsp; </TD>
    <TD noWrap align=left width="2%"></TD>
    <TD noWrap align=left width="3%">&nbsp; </TD>
    <TD noWrap align=right width="2%"></TD>
    <TD noWrap align=right width="3%"><FONT face=serif size=1>&#151;</FONT> </TD>
    <TD noWrap align=left width="2%"></TD>
    <TD noWrap align=left width="1%">&nbsp; </TD>
    <TD noWrap align=left width="3%">&nbsp;
</TD></TR></TABLE>____________________<BR>&nbsp;<BR>
<TABLE cellSpacing=0 cellPadding=0 border=0>

  <TR>
    <TD vAlign=top noWrap><FONT face=serif size=2>(1)</FONT></TD>
    <TD vAlign=top noWrap>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </TD>
    <TD align=left width="100%">
      <P align=justify><FONT face=serif size=2>Options vest in six equal annual
      installments beginning on the first anniversary of the date of grant.
      Restricted stock units vest in six equal installments beginning on the
      date of stockholder approval of the amendment to the 2007 Stock Incentive
      Program that enabled the grants.</FONT></P></TD></TR></TABLE>
<P align=justify><B><FONT face=serif size=2>Option Exercises and Stock
Vested</FONT></B><FONT face=serif size=2> </FONT></P>
<P align=justify><FONT face=serif size=2>The following table provides
information with regard to amounts paid to or received by our named executive
officers during 2008 as a result of the exercise of stock options and vesting of
restricted stock units. </FONT></P>
<TABLE cellSpacing=0 cellPadding=0 width="100%" border=0>

  <TR vAlign=bottom>
    <TD noWrap align=left width="61%">&nbsp; </TD>
    <TD noWrap align=left width="2%"></TD>
    <TD noWrap align=center width="17%" colSpan=4><B><FONT face=serif size=2>Option Awards</FONT></B> </TD>
    <TD noWrap align=center width="2%"></TD>
    <TD noWrap align=center width="17%" colSpan=4><B><FONT face=serif size=2>Stock Awards</FONT></B> </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="61%">&nbsp; </TD>
    <TD noWrap align=center width="2%"></TD>
    <TD noWrap align=center width="7%"><B><FONT face=serif size=2>Number
      of</FONT></B> </TD>
    <TD noWrap align=center width="2%"></TD>
    <TD noWrap align=center width="8%" colSpan=2>&nbsp; &nbsp; </TD>
    <TD noWrap align=center width="2%"></TD>
    <TD noWrap align=center width="8%"><B><FONT face=serif size=2>Number
      of</FONT></B> </TD>
    <TD noWrap align=center width="2%"></TD>
    <TD noWrap align=center width="7%" colSpan=2>&nbsp; </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="61%">&nbsp; </TD>
    <TD noWrap align=center width="2%"></TD>
    <TD noWrap align=center width="7%"><B><FONT face=serif size=2>Shares</FONT></B> </TD>
    <TD noWrap align=center width="2%"></TD>
    <TD noWrap align=center width="8%" colSpan=2><B><FONT face=serif size=2>Value</FONT></B> </TD>
    <TD noWrap align=center width="2%"></TD>
    <TD noWrap align=center width="8%"><B><FONT face=serif size=2>Shares</FONT></B> </TD>
    <TD noWrap align=center width="2%"></TD>
    <TD noWrap align=center width="7%" colSpan=2><B><FONT face=serif size=2>Value</FONT></B> </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="61%">&nbsp; </TD>
    <TD noWrap align=center width="2%"></TD>
    <TD noWrap align=center width="7%"><B><FONT face=serif size=2>Acquired</FONT></B> </TD>
    <TD noWrap align=center width="2%">&nbsp;</TD>
    <TD noWrap align=center width="8%" colSpan=2><B><FONT face=serif size=2>Realized on</FONT></B> </TD>
    <TD noWrap align=center width="2%"></TD>
    <TD noWrap align=center width="8%"><B><FONT face=serif size=2>Acquired</FONT></B> </TD>
    <TD noWrap align=center width="2%"></TD>
    <TD noWrap align=center width="7%" colSpan=2><B><FONT face=serif size=2>Realized on</FONT></B> </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="61%">&nbsp; </TD>
    <TD noWrap align=center width="2%"></TD>
    <TD noWrap align=center width="7%"><B><FONT face=serif size=2>on
      Exercise</FONT></B> </TD>
    <TD noWrap align=center width="2%"></TD>
    <TD noWrap align=center width="8%" colSpan=2><B><FONT face=serif size=2>Exercise</FONT></B> </TD>
    <TD noWrap align=center width="2%"></TD>
    <TD noWrap align=center width="8%"><B><FONT face=serif size=2>on
      Vesting</FONT></B> </TD>
    <TD noWrap align=center width="2%"></TD>
    <TD noWrap align=center width="7%" colSpan=2><B><FONT face=serif size=2>Vesting</FONT></B> </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="61%"><B><FONT face=serif size=2>Name</FONT></B>&nbsp; </TD>
    <TD noWrap align=center width="2%">&nbsp;</TD>
    <TD noWrap align=center width="7%"><B><FONT face=serif size=2>(#)</FONT></B> </TD>
    <TD noWrap align=center width="2%"></TD>
    <TD noWrap align=center width="8%" colSpan=2><B><FONT face=serif size=2>($)</FONT></B> </TD>
    <TD noWrap align=center width="2%"></TD>
    <TD noWrap align=center width="8%"><B><FONT face=serif size=2>(#)</FONT></B> </TD>
    <TD noWrap align=center width="2%"></TD>
    <TD noWrap align=center width="7%" colSpan=2><B><FONT face=serif size=2>($)</FONT></B> </TD></TR>
  <TR vAlign=bottom>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="61%"><B><FONT face=serif size=2>(a)</FONT></B>&nbsp; </TD>
    <TD noWrap align=center width="2%">&nbsp;&nbsp;&nbsp;&nbsp; </TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="7%"><B><FONT face=serif size=2>(b)</FONT></B> </TD>
    <TD noWrap align=center width="2%">&nbsp;&nbsp;&nbsp;&nbsp; </TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="8%" colSpan=2><B><FONT face=serif size=2>(c)</FONT></B> </TD>
    <TD noWrap align=center width="2%">&nbsp;&nbsp;&nbsp;&nbsp; </TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="8%"><B><FONT face=serif size=2>(d)</FONT></B> </TD>
    <TD noWrap align=center width="2%">&nbsp;&nbsp;&nbsp;&nbsp; </TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="7%" colSpan=2><B><FONT face=serif size=2>(e)</FONT></B> </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="61%" bgColor=#c0c0c0><FONT face=serif size=2>Dr. Felix Zandman</FONT> </TD>
    <TD noWrap align=right width="2%" bgColor=#c0c0c0></TD>
    <TD noWrap align=right width="7%" bgColor=#c0c0c0><FONT face=serif size=2>&#151;</FONT> </TD>
    <TD noWrap align=left width="2%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="2%" bgColor=#c0c0c0><FONT face=serif size=2>$</FONT> </TD>
    <TD noWrap align=right width="6%" bgColor=#c0c0c0><FONT face=serif size=2>&#151;</FONT> </TD>
    <TD noWrap align=right width="2%" bgColor=#c0c0c0></TD>
    <TD noWrap align=right width="8%" bgColor=#c0c0c0><FONT face=serif size=2>14,000</FONT> </TD>
    <TD noWrap align=right width="2%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="2%" bgColor=#c0c0c0><FONT face=serif size=2>$</FONT> </TD>
    <TD noWrap align=right width="5%" bgColor=#c0c0c0><FONT face=serif size=2>138,320</FONT> </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="61%"><FONT face=serif size=2>Dr. Gerald
      Paul</FONT> </TD>
    <TD noWrap align=right width="2%"></TD>
    <TD noWrap align=right width="7%"><FONT face=serif size=2>&#151;</FONT> </TD>
    <TD noWrap align=left width="2%"></TD>
    <TD noWrap align=left width="2%">&nbsp;</TD>
    <TD noWrap align=right width="6%"><FONT face=serif size=2>&#151;</FONT> </TD>
    <TD noWrap align=right width="2%"></TD>
    <TD noWrap align=right width="8%"><FONT face=serif size=2>9,333</FONT> </TD>
    <TD noWrap align=left width="2%"></TD>
    <TD noWrap align=left width="2%"></TD>
    <TD noWrap align=right width="5%"><FONT face=serif size=2>92,210</FONT>
  </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="61%" bgColor=#c0c0c0><FONT face=serif size=2>Richard Grubb</FONT>&nbsp; </TD>
    <TD noWrap align=right width="2%" bgColor=#c0c0c0></TD>
    <TD noWrap align=right width="7%" bgColor=#c0c0c0><FONT face=serif size=2>&#151;</FONT> </TD>
    <TD noWrap align=left width="2%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="2%" bgColor=#c0c0c0>&nbsp; </TD>
    <TD noWrap align=right width="6%" bgColor=#c0c0c0><FONT face=serif size=2>&#151;</FONT> </TD>
    <TD noWrap align=right width="2%" bgColor=#c0c0c0></TD>
    <TD noWrap align=right width="8%" bgColor=#c0c0c0><FONT face=serif size=2>4,667</FONT> </TD>
    <TD noWrap align=left width="2%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="2%" bgColor=#c0c0c0></TD>
    <TD noWrap align=right width="5%" bgColor=#c0c0c0><FONT face=serif size=2>46,110</FONT> </TD></TR></TABLE><BR>
<P align=center><FONT face=serif size=2>37 </FONT></P>
<HR align=center width="100%" noShade SIZE=2>
<PAGE>
<P align=justify><FONT face=serif size=2></FONT><B><FONT face=serif size=2>Pension Benefits</FONT></B><FONT face=serif size=2> </FONT></P>
<P align=justify><FONT face=serif size=2>Vishay maintains various retirement
benefit plans and arrangements. </FONT></P>
<P align=justify><FONT face=serif size=2>Dr. Zandman&#146;s employment agreement
provides an annual retirement benefit equal to 50% of his average base pay and
bonus for the five years preceding his retirement (but not to exceed $1 million
annually). These benefits are fully vested. Dr. Zandman does not participate in
any of Vishay&#146;s defined benefit retirement plans. </FONT></P>
<P align=justify><FONT face=serif size=2>Vishay Europe GmbH, a German subsidiary
of Vishay, has a noncontributory defined benefit plan governed by German law
covering its management and executive employees. Dr. Paul is the only named
executive officer that participates in this plan. Dr. Paul also has an
individual contractual pension arrangement with Vishay Europe GmbH that will pay
an annual benefit upon retirement at age 65 based on his years of service (up to
25) and average salary and bonus in the three highest of his final ten years of
employment (&#147;final average compensation&#148;). The retirement benefit will not
exceed 40% of such final average compensation, and the individual contractual
pension amount will be reduced by pension amounts payable under the Company
plan. Dr. Paul has voluntarily agreed to a maximum limit of &euro;180,000 per year
with respect of such final average compensation. The Compensation Committee may,
however, in its sole discretion, elect to increase the &euro;180,000 limitation to
reflect Dr. Paul&#146;s actual salary and bonus, to take into account cost of living
adjustments, or as it may otherwise deem appropriate.</FONT><FONT face=serif size=2> </FONT></P>
<P align=justify><FONT face=serif size=2>In the United States, Vishay maintains
a pension plan which provides defined benefits to U.S. employees whose benefits
under the qualified pension plan would be limited by the Employee Retirement
Security Act of 1974 (&#147;ERISA&#148;) and the Internal Revenue Code. This plan is
contributory and, other than the fact that it is nonqualified under ERISA,
provides substantially the same benefits that are available under Vishay&#146;s
qualified retirement plan. Employees with five or more years of service are
entitled to annual pension benefits beginning at normal retirement age on the
first day of the month following the participant&#146;s 65th birthday equal to the
sum of 2.1% of the first $10,000 of earnings plus 2.64% of the annual earnings
in excess of $10,000 with a new pension unit earned each year. The final pension
is the sum of all units earned during the employee&#146;s career. The plan permits
early retirement if the participant is at least age 55 and has at least five
years of service. Employees may elect to receive their pension benefits in the
form of a joint and survivor annuity or other contingent annuities. Employees
are 100% vested immediately in their contributions. If employees terminate
before rendering five years of service, they forfeit the right to receive the
portion of their accumulated plan benefits attributable to the Company&#146;s
contributions. Employees may elect to receive the value of their accumulated
benefits as a lump-sum distribution upon retirement or termination, or they may
elect to receive their benefits as a life annuity payable monthly from
retirement. For each employee electing a life annuity, payments will not be less
than the greater of (a) the employee&#146;s accumulated contributions plus interest
or (b) an annuity for five years. Effective January 1, 2009, the U.S. pension
plans have been frozen. Benefits accumulated as of December 31, 2008 will be
paid to employees upon retirement, but no further benefits will accrue beyond
that date. To mitigate the loss in benefits of these employees, effective
January </FONT><FONT face=serif size=2>1, 2009, the Company increased the
Company-match portion of its 401(k) defined contribution savings plan for
employees impacted by the pension freeze. Mr. Grubb and Dr. Yahalomi are the
only executive officers that participate in this defined benefit
plan.</FONT></P>
<P align=justify><FONT face=serif size=2>As part of their respective employment
agreements, certain executive officers and their surviving spouses are entitled
to receive medical coverage up to a $15,000 annual premium value for life if
they terminate employment after attaining age 62. These benefits are fully
vested. </FONT></P>
<P align=center><FONT face=serif size=2>38</FONT></P>
<HR align=center width="100%" noShade SIZE=2>
<PAGE>
<P align=justify><FONT face=serif size=2>The following table provides
information regarding the present value of benefits accrued under these
retirement benefit plans and arrangements: </FONT></P>
<TABLE cellSpacing=0 cellPadding=0 width="100%" border=0>

  <TR vAlign=bottom>
    <TD noWrap align=center width="33%">&nbsp; </TD>
    <TD noWrap align=center width="2%"></TD>
    <TD noWrap align=center width="26%">&nbsp; </TD>
    <TD noWrap align=center width="2%"></TD>
    <TD noWrap align=center width="14%"><B><FONT face=serif size=2>Number</FONT></B>&nbsp; </TD>
    <TD noWrap align=center width="2%"></TD>
    <TD noWrap align=center width="5%" colSpan=2><B><FONT face=serif size=2>Present</FONT></B>&nbsp; </TD>
    <TD noWrap align=center width="2%"></TD>
    <TD noWrap align=center width="13%">&nbsp; </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=center width="33%">&nbsp; </TD>
    <TD noWrap align=center width="2%"></TD>
    <TD noWrap align=center width="26%">&nbsp; </TD>
    <TD noWrap align=center width="2%"></TD>
    <TD noWrap align=center width="14%"><B><FONT face=serif size=2>of
      Years</FONT></B>&nbsp; </TD>
    <TD noWrap align=center width="2%"></TD>
    <TD noWrap align=center width="5%" colSpan=2><B><FONT face=serif size=2>Value of</FONT></B>&nbsp; </TD>
    <TD noWrap align=center width="2%"></TD>
    <TD noWrap align=center width="13%"><B><FONT face=serif size=2>Payments</FONT></B> </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=center width="33%">&nbsp; </TD>
    <TD noWrap align=center width="2%"></TD>
    <TD noWrap align=center width="26%">&nbsp; </TD>
    <TD noWrap align=center width="2%"></TD>
    <TD noWrap align=center width="14%"><B><FONT face=serif size=2>Credited</FONT></B>&nbsp; </TD>
    <TD noWrap align=center width="2%"></TD>
    <TD noWrap align=center width="5%" colSpan=2><B><FONT face=serif size=2>Accumulated</FONT></B>&nbsp; </TD>
    <TD noWrap align=center width="2%"></TD>
    <TD noWrap align=center width="13%"><B><FONT face=serif size=2>During
      Last</FONT></B> </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=center width="33%">&nbsp; </TD>
    <TD noWrap align=center width="2%"></TD>
    <TD noWrap align=center width="26%">&nbsp; </TD>
    <TD noWrap align=center width="2%"></TD>
    <TD noWrap align=center width="14%"><B><FONT face=serif size=2>Service</FONT></B>&nbsp; </TD>
    <TD noWrap align=center width="2%"></TD>
    <TD noWrap align=center width="5%" colSpan=2><B><FONT face=serif size=2>Benefit </FONT></B><B><SUP><FONT face=serif size=2>(1)</FONT></SUP></B>&nbsp; </TD>
    <TD noWrap align=center width="2%"></TD>
    <TD noWrap align=center width="13%"><B><FONT face=serif size=2>Fiscal
      Year</FONT></B> </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=center width="33%"><B><FONT face=serif size=2>Name</FONT></B>&nbsp; </TD>
    <TD noWrap align=center width="2%"></TD>
    <TD noWrap align=center width="26%"><B><FONT face=serif size=2>Plan
      Name</FONT></B>&nbsp; </TD>
    <TD noWrap align=center width="2%"></TD>
    <TD noWrap align=center width="14%"><B><FONT face=serif size=2>(#)</FONT></B>&nbsp; </TD>
    <TD noWrap align=center width="2%">&nbsp;</TD>
    <TD noWrap align=center width="5%" colSpan=2><B><FONT face=serif size=2>($)</FONT></B>&nbsp; </TD>
    <TD noWrap align=center width="2%"></TD>
    <TD noWrap align=center width="13%"><B><FONT face=serif size=2>($)</FONT></B> </TD></TR>
  <TR vAlign=bottom>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="33%"><B><FONT face=serif size=2>(a)</FONT></B>&nbsp; </TD>
    <TD noWrap align=center width="2%">&nbsp;&nbsp;&nbsp;&nbsp; </TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="26%"><B><FONT face=serif size=2>(b)</FONT></B>&nbsp; </TD>
    <TD noWrap align=center width="2%">&nbsp;&nbsp;&nbsp;&nbsp; </TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="14%"><B><FONT face=serif size=2>(c)</FONT></B>&nbsp; </TD>
    <TD noWrap align=center width="2%">&nbsp;&nbsp;&nbsp;&nbsp; </TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="5%" colSpan=2><B><FONT face=serif size=2>(d)</FONT></B>&nbsp; </TD>
    <TD noWrap align=center width="2%">&nbsp;&nbsp;&nbsp;&nbsp; </TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="13%"><B><FONT face=serif size=2>(e)</FONT></B> </TD></TR>
  <TR vAlign=bottom>
    <TD vAlign=top noWrap align=left width="33%" bgColor=#c0c0c0><FONT face=serif size=2>Dr. Felix Zandman</FONT></TD>
    <TD vAlign=top noWrap align=left width="2%" bgColor=#c0c0c0></TD>
    <TD vAlign=top align=left width="26%" bgColor=#c0c0c0><FONT face=serif size=2>Individual contractual pension arrangement</FONT></TD>
    <TD vAlign=top noWrap align=center width="2%" bgColor=#c0c0c0></TD>
    <TD vAlign=top noWrap align=center width="14%" bgColor=#c0c0c0><FONT face=serif size=2>n/a</FONT></TD>
    <TD vAlign=top noWrap align=right width="2%" bgColor=#c0c0c0></TD>
    <TD vAlign=top noWrap align=left width="1%" bgColor=#c0c0c0><FONT face=serif size=2>$</FONT></TD>
    <TD vAlign=top noWrap align=right width="4%" bgColor=#c0c0c0><FONT face=serif size=2>3,627,493</FONT></TD>
    <TD vAlign=top noWrap align=center width="2%" bgColor=#c0c0c0></TD>
    <TD vAlign=top noWrap align=center width="13%" bgColor=#c0c0c0><FONT face=serif size=2>&#151;</FONT></TD></TR>
  <TR vAlign=bottom>
    <TD vAlign=top noWrap align=left width="33%" bgColor=#c0c0c0>&nbsp; </TD>
    <TD vAlign=top noWrap align=left width="2%" bgColor=#c0c0c0></TD>
    <TD vAlign=top align=left width="26%" bgColor=#c0c0c0><FONT face=serif size=2>Individual contractual post-employment medical
arrangement</FONT></TD>
    <TD vAlign=top noWrap align=center width="2%" bgColor=#c0c0c0></TD>
    <TD vAlign=top noWrap align=center width="14%" bgColor=#c0c0c0><FONT face=serif size=2>n/a</FONT></TD>
    <TD vAlign=top noWrap align=left width="2%" bgColor=#c0c0c0></TD>
    <TD vAlign=top noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD vAlign=top noWrap align=right width="4%" bgColor=#c0c0c0><FONT face=serif size=2>65,231</FONT></TD>
    <TD vAlign=top noWrap align=center width="2%" bgColor=#c0c0c0></TD>
    <TD vAlign=top noWrap align=center width="13%" bgColor=#c0c0c0><FONT face=serif size=2>&#151;</FONT></TD></TR>
  <TR>
    <TD vAlign=top width="99%" colSpan=10>&nbsp; </TD></TR>
  <TR vAlign=bottom>
    <TD vAlign=top noWrap align=left width="33%" bgColor=#c0c0c0><FONT face=serif size=2>Dr. Gerald Paul </FONT><SUP><FONT face=serif size=2>(2)</FONT></SUP></TD>
    <TD vAlign=top noWrap align=left width="2%" bgColor=#c0c0c0></TD>
    <TD vAlign=top align=left width="26%" bgColor=#c0c0c0><FONT face=serif size=2>Vishay Europe GmbH Pension Plan and individual contractual
      arrangement</FONT></TD>
    <TD vAlign=top noWrap align=center width="2%" bgColor=#c0c0c0></TD>
    <TD vAlign=top noWrap align=center width="14%" bgColor=#c0c0c0><FONT face=serif size=2>31</FONT></TD>
    <TD vAlign=top noWrap align=left width="2%" bgColor=#c0c0c0></TD>
    <TD vAlign=top noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD vAlign=top noWrap align=right width="4%" bgColor=#c0c0c0><FONT face=serif size=2>1,728,993</FONT></TD>
    <TD vAlign=top noWrap align=center width="2%" bgColor=#c0c0c0></TD>
    <TD vAlign=top noWrap align=center width="13%" bgColor=#c0c0c0><FONT face=serif size=2>&#151;</FONT></TD></TR>
  <TR vAlign=bottom>
    <TD vAlign=top noWrap align=left width="33%" bgColor=#c0c0c0>&nbsp; </TD>
    <TD vAlign=top noWrap align=left width="2%" bgColor=#c0c0c0></TD>
    <TD vAlign=top align=left width="26%" bgColor=#c0c0c0><FONT face=serif size=2>Individual contractual post-employment medical
arrangement</FONT></TD>
    <TD vAlign=top noWrap align=center width="2%" bgColor=#c0c0c0></TD>
    <TD vAlign=top noWrap align=center width="14%" bgColor=#c0c0c0><FONT face=serif size=2>n/a</FONT></TD>
    <TD vAlign=top noWrap align=left width="2%" bgColor=#c0c0c0></TD>
    <TD vAlign=top noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD vAlign=top noWrap align=right width="4%" bgColor=#c0c0c0><FONT face=serif size=2>156,309</FONT></TD>
    <TD vAlign=top noWrap align=center width="2%" bgColor=#c0c0c0></TD>
    <TD vAlign=top noWrap align=center width="13%" bgColor=#c0c0c0><FONT face=serif size=2>&#151;</FONT></TD></TR>
  <TR>
    <TD vAlign=top width="99%" colSpan=10>&nbsp; </TD></TR>
  <TR vAlign=bottom>
    <TD vAlign=top noWrap align=left width="33%" bgColor=#c0c0c0><FONT face=serif size=2>Dr. Lior Yahalomi</FONT></TD>
    <TD vAlign=top noWrap align=left width="2%" bgColor=#c0c0c0></TD>
    <TD vAlign=top align=left width="26%" bgColor=#c0c0c0><FONT face=serif size=2>Vishay Nonqualified Retirement Plan</FONT></TD>
    <TD vAlign=top noWrap align=center width="2%" bgColor=#c0c0c0></TD>
    <TD vAlign=top noWrap align=center width="14%" bgColor=#c0c0c0><FONT face=serif size=2>2.5</FONT></TD>
    <TD vAlign=top noWrap align=left width="2%" bgColor=#c0c0c0></TD>
    <TD vAlign=top noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD vAlign=top noWrap align=right width="4%" bgColor=#c0c0c0><FONT face=serif size=2>31,523</FONT></TD>
    <TD vAlign=top noWrap align=center width="2%" bgColor=#c0c0c0></TD>
    <TD vAlign=top noWrap align=center width="13%" bgColor=#c0c0c0><FONT face=serif size=2>&#151;</FONT></TD></TR>
  <TR>
    <TD vAlign=top width="99%" colSpan=10>&nbsp; </TD></TR>
  <TR vAlign=bottom>
    <TD vAlign=top noWrap align=left width="33%" bgColor=#c0c0c0><FONT face=serif size=2>Richard Grubb</FONT></TD>
    <TD vAlign=top noWrap align=left width="2%" bgColor=#c0c0c0></TD>
    <TD vAlign=top align=left width="26%" bgColor=#c0c0c0><FONT face=serif size=2>Vishay Nonqualified Retirement Plan <SUP><FONT face=serif size=2>(3)</FONT></SUP></FONT></TD>
    <TD vAlign=top noWrap align=center width="2%" bgColor=#c0c0c0></TD>
    <TD vAlign=top noWrap align=center width="14%" bgColor=#c0c0c0><FONT face=serif size=2>13.5</FONT></TD>
    <TD vAlign=top noWrap align=left width="2%" bgColor=#c0c0c0></TD>
    <TD vAlign=top noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD vAlign=top noWrap align=right width="4%" bgColor=#c0c0c0><FONT face=serif size=2>614,688</FONT></TD>
    <TD vAlign=top noWrap align=center width="2%" bgColor=#c0c0c0></TD>
    <TD vAlign=top noWrap align=center width="13%" bgColor=#c0c0c0><FONT face=serif size=2>&#151;</FONT></TD></TR>
  <TR vAlign=bottom>
    <TD vAlign=top noWrap align=left width="33%" bgColor=#c0c0c0>&nbsp; </TD>
    <TD vAlign=top noWrap align=left width="2%" bgColor=#c0c0c0></TD>
    <TD vAlign=top align=left width="26%" bgColor=#c0c0c0><FONT face=serif size=2>Individual contractual post-employment medical
arrangement</FONT></TD>
    <TD vAlign=top noWrap align=center width="2%" bgColor=#c0c0c0></TD>
    <TD vAlign=top noWrap align=center width="14%" bgColor=#c0c0c0><FONT face=serif size=2>n/a</FONT></TD>
    <TD vAlign=top noWrap align=left width="2%" bgColor=#c0c0c0></TD>
    <TD vAlign=top noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD vAlign=top noWrap align=right width="4%" bgColor=#c0c0c0><FONT face=serif size=2>181,476</FONT></TD>
    <TD vAlign=top noWrap align=center width="2%" bgColor=#c0c0c0></TD>
    <TD vAlign=top noWrap align=center width="13%" bgColor=#c0c0c0><FONT face=serif size=2>&#151;</FONT></TD></TR>
  <TR>
    <TD vAlign=top width="99%" colSpan=10>&nbsp; </TD></TR>
  <TR vAlign=bottom>
    <TD vAlign=top noWrap align=left width="33%" bgColor=#c0c0c0><FONT face=serif size=2>Marc Zandman</FONT></TD>
    <TD vAlign=top noWrap align=left width="2%" bgColor=#c0c0c0></TD>
    <TD vAlign=top align=left width="26%" bgColor=#c0c0c0><FONT face=serif size=2>Individual contractual post-employment medical
arrangement</FONT></TD>
    <TD vAlign=top noWrap align=center width="2%" bgColor=#c0c0c0></TD>
    <TD vAlign=top noWrap align=center width="14%" bgColor=#c0c0c0><FONT face=serif size=2>n/a</FONT></TD>
    <TD vAlign=top noWrap align=left width="2%" bgColor=#c0c0c0></TD>
    <TD vAlign=top noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD vAlign=top noWrap align=right width="4%" bgColor=#c0c0c0><FONT face=serif size=2>51,904</FONT></TD>
    <TD vAlign=top noWrap align=center width="2%" bgColor=#c0c0c0></TD>
    <TD vAlign=top noWrap align=center width="13%" bgColor=#c0c0c0><FONT face=serif size=2>&#151;</FONT></TD></TR>
  <TR>
    <TD vAlign=top width="99%" colSpan=10>&nbsp; </TD></TR>
  <TR vAlign=bottom>
    <TD vAlign=top noWrap align=left width="33%" bgColor=#c0c0c0><FONT face=serif size=2>Ziv Shoshani</FONT></TD>
    <TD vAlign=top noWrap align=left width="2%" bgColor=#c0c0c0></TD>
    <TD vAlign=top align=left width="26%" bgColor=#c0c0c0><FONT face=serif size=2>Individual contractual post-employment medical
arrangement</FONT></TD>
    <TD vAlign=top noWrap align=center width="2%" bgColor=#c0c0c0></TD>
    <TD vAlign=top noWrap align=center width="14%" bgColor=#c0c0c0><FONT face=serif size=2>n/a</FONT></TD>
    <TD vAlign=top noWrap align=left width="2%" bgColor=#c0c0c0></TD>
    <TD vAlign=top noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD vAlign=top noWrap align=right width="4%" bgColor=#c0c0c0><FONT face=serif size=2>27,612</FONT></TD>
    <TD vAlign=top noWrap align=center width="2%" bgColor=#c0c0c0></TD>
    <TD vAlign=top noWrap align=center width="13%" bgColor=#c0c0c0><FONT face=serif size=2>&#151;</FONT></TD></TR></TABLE>____________________<BR>&nbsp;<BR>
<TABLE cellSpacing=0 cellPadding=0 border=0>

  <TR>
    <TD vAlign=top noWrap><FONT face=serif size=2>(1)</FONT></TD>
    <TD vAlign=top noWrap>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </TD>
    <TD align=left width="100%">
      <P align=justify><FONT face=serif size=2>These amounts have been
      calculated using interest rate, mortality, and other actuarial assumptions
      consistent with those used for financial reporting purposes set forth in
      Note 11 to Vishay&#146;s consolidated financial statements included in our 2008
      Annual Report on Form 10-K.</FONT></P></TD></TR>
  <TR>
    <TD width="100%" colSpan=3>&nbsp;</TD></TR>
  <TR>
    <TD vAlign=top noWrap><FONT face=serif size=2>(2)</FONT></TD>
    <TD vAlign=top noWrap></TD>
    <TD align=left width="100%">
      <P align=justify><FONT face=serif size=2>Dr. Paul&#146;s benefits are
      denominated in euros. The dollar amount shown in the table is based on the
      year to date weighted average conversion rate for 2008.</FONT></P></TD></TR>
  <TR>
    <TD width="100%" colSpan=3>&nbsp;</TD></TR>
  <TR>
    <TD vAlign=top noWrap><FONT face=serif size=2>(3)</FONT></TD>
    <TD vAlign=top noWrap></TD>
    <TD align=left width="100%">
      <P align=justify><FONT face=serif size=2>Mr. Grubb elected to begin
      participating in this plan effective July 1, 1995, and received no credit
      for prior service.</FONT></P></TD></TR></TABLE>
<P align=justify><B><FONT face=serif size=2>Nonqualified Deferred Compensation
</FONT></B></P>
<P align=justify><FONT face=serif size=2>The named executive officers
participate in a nonqualified deferred compensation plan, which is available to
all employees which meet certain criteria under the Internal Revenue Code.
Certain executive officers are entitled under their respective employment
agreements to annual contributions to this plan by Vishay, less certain
applicable taxes. The named executive officers are also eligible to elect to
defer additional amounts of compensation, subject to certain limitations. Only
Dr. Yahalomi has elected to defer additional amounts of compensation.
</FONT></P>
<P align=center><FONT face=serif size=2>39 </FONT></P>
<HR align=center width="100%" noShade SIZE=2>
<PAGE>
<P align=justify><FONT face=serif size=2>Amounts contributed to these plans
prior to January 1, 2005 were deemed deferred until retirement or termination of
employment. Effective January 1, 2005, all employees that participate in the
plan were given the option to choose shorter deferral periods for all or a
portion of their deferred compensation. All of the named executive officers have
elected to defer all amounts of compensation until retirement or termination of
employment, at which time, the amounts would be paid in a lump sum. To the
extent required to avoid tax penalties, the deferred amounts are not paid until
six months after the termination of employment.</FONT><FONT face=sans-serif size=2> </FONT></P>
<P align=justify><FONT face=serif size=2>While deferred, amounts are credited
with &#147;earnings&#148; based on the performance of notional investment options
available under the plan. No portion of the earnings credited during 2008 was
&#147;above market&#148; or &#147;preferential.&#148; </FONT></P>
<P align=justify><FONT face=serif size=2>The following table sets forth
information relating to the activity in the nonqualified deferred compensation
plan accounts of the named executive officers during 2008 and the aggregate
balance of the accounts as of December 31, 2008: </FONT></P>
<TABLE cellSpacing=0 cellPadding=0 width="100%" border=0>

  <TR vAlign=bottom>
    <TD noWrap align=center width="49%">&nbsp; </TD>
    <TD noWrap align=center width="5%"></TD>
    <TD noWrap align=center width="4%" colSpan=2>&nbsp; &nbsp; </TD>
    <TD noWrap align=center width="5%"></TD>
    <TD noWrap align=center width="4%" colSpan=2><B><FONT face=serif size=1>Registrant</FONT></B> </TD>
    <TD noWrap align=center width="5%">&nbsp; </TD>
    <TD noWrap align=center width="5%" colSpan=3>&nbsp; &nbsp; </TD>
    <TD noWrap align=center width="5%"></TD>
    <TD noWrap align=center width="8%">&nbsp; </TD>
    <TD noWrap align=center width="5%"></TD>
    <TD noWrap align=center width="4%" colSpan=2><B><FONT face=serif size=1>Aggregate</FONT></B> </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=center width="49%">&nbsp; </TD>
    <TD noWrap align=center width="5%"></TD>
    <TD noWrap align=center width="4%" colSpan=2><B><FONT face=serif size=1>Executive</FONT></B> </TD>
    <TD noWrap align=center width="5%"></TD>
    <TD noWrap align=center width="4%" colSpan=2><B><FONT face=serif size=1>Contributions in</FONT></B> </TD>
    <TD noWrap align=center width="5%">&nbsp; </TD>
    <TD noWrap align=center width="5%" colSpan=3><B><FONT face=serif size=1>Aggregate</FONT></B> </TD>
    <TD noWrap align=center width="5%"></TD>
    <TD noWrap align=center width="8%"><B><FONT face=serif size=1>Aggregate</FONT></B> </TD>
    <TD noWrap align=center width="5%"></TD>
    <TD noWrap align=center width="4%" colSpan=2><B><FONT face=serif size=1>Balance at</FONT></B> </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=center width="49%">&nbsp; </TD>
    <TD noWrap align=center width="5%"></TD>
    <TD noWrap align=center width="4%" colSpan=2><B><FONT face=serif size=1>Contributions in</FONT></B> </TD>
    <TD noWrap align=center width="5%"></TD>
    <TD noWrap align=center width="4%" colSpan=2><B><FONT face=serif size=1>Last Fiscal Year</FONT></B> </TD>
    <TD noWrap align=center width="5%">&nbsp; </TD>
    <TD noWrap align=center width="5%" colSpan=3><B><FONT face=serif size=1>Earnings in Last</FONT></B> </TD>
    <TD noWrap align=center width="5%"></TD>
    <TD noWrap align=center width="8%"><B><FONT face=serif size=1>Withdrawals/</FONT></B> </TD>
    <TD noWrap align=center width="5%"></TD>
    <TD noWrap align=center width="4%" colSpan=2><B><FONT face=serif size=1>Last Fiscal</FONT></B> </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=center width="49%">&nbsp; </TD>
    <TD noWrap align=center width="5%"></TD>
    <TD noWrap align=center width="4%" colSpan=2><B><FONT face=serif size=1>Last Fiscal Year</FONT></B> </TD>
    <TD noWrap align=center width="5%"></TD>
    <TD noWrap align=center width="4%" colSpan=2><B><FONT face=serif size=1>(1)</FONT></B> </TD>
    <TD noWrap align=center width="5%">&nbsp; </TD>
    <TD noWrap align=center width="5%" colSpan=3><B><FONT face=serif size=1>Fiscal Year</FONT></B> </TD>
    <TD noWrap align=center width="5%"></TD>
    <TD noWrap align=center width="8%"><B><FONT face=serif size=1>Distributions</FONT></B> </TD>
    <TD noWrap align=center width="5%"></TD>
    <TD noWrap align=center width="4%" colSpan=2><B><FONT face=serif size=1>Year End</FONT></B> </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=center width="49%"><B><FONT face=serif size=1>Name</FONT></B> </TD>
    <TD noWrap align=center width="5%"></TD>
    <TD noWrap align=center width="4%" colSpan=2><B><FONT face=serif size=1>($)</FONT></B> </TD>
    <TD noWrap align=center width="5%"></TD>
    <TD noWrap align=center width="4%" colSpan=2><B><FONT face=serif size=1>($)</FONT></B> </TD>
    <TD noWrap align=center width="5%">&nbsp; </TD>
    <TD noWrap align=center width="5%" colSpan=3><B><FONT face=serif size=1>($)</FONT></B> </TD>
    <TD noWrap align=center width="5%"></TD>
    <TD noWrap align=center width="8%"><B><FONT face=serif size=1>($)</FONT></B> </TD>
    <TD noWrap align=center width="5%"></TD>
    <TD noWrap align=center width="4%" colSpan=2><B><FONT face=serif size=1>($)</FONT></B> </TD></TR>
  <TR vAlign=bottom>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="49%"><B><FONT face=serif size=1>(a)</FONT></B> </TD>
    <TD noWrap align=center width="5%">&nbsp;&nbsp;&nbsp;&nbsp; </TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="4%" colSpan=2><B><FONT face=serif size=1>(b)</FONT></B> </TD>
    <TD noWrap align=center width="5%">&nbsp;&nbsp;&nbsp;&nbsp; </TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="4%" colSpan=2><B><FONT face=serif size=1>(c)</FONT></B> </TD>
    <TD noWrap align=center width="5%">&nbsp;&nbsp;&nbsp;&nbsp; </TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="5%" colSpan=3><B><FONT face=serif size=1>(d)</FONT></B> </TD>
    <TD noWrap align=center width="5%">&nbsp;&nbsp;&nbsp;&nbsp; </TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="8%"><B><FONT face=serif size=1>(e)</FONT></B> </TD>
    <TD noWrap align=center width="5%">&nbsp;&nbsp;&nbsp;&nbsp; </TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="4%" colSpan=2><B><FONT face=serif size=1>(f)</FONT></B> </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="49%" bgColor=#c0c0c0><FONT face=serif size=2>Dr. Felix Zandman</FONT>&nbsp; </TD>
    <TD noWrap align=left width="5%" bgColor=#c0c0c0>&nbsp;</TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0><FONT face=serif size=2>$</FONT>&nbsp; </TD>
    <TD noWrap align=right width="3%" bgColor=#c0c0c0><FONT face=serif size=2>&#151;</FONT> </TD>
    <TD noWrap align=left width="5%" bgColor=#c0c0c0>&nbsp;</TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0><FONT face=serif size=2>$</FONT>&nbsp; </TD>
    <TD noWrap align=right width="3%" bgColor=#c0c0c0><FONT face=serif size=2>147,735</FONT> </TD>
    <TD noWrap align=left width="5%" bgColor=#c0c0c0>&nbsp;</TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0><FONT face=serif size=2>$</FONT>&nbsp; </TD>
    <TD noWrap align=right width="3%" bgColor=#c0c0c0><FONT face=serif size=2>16,521</FONT> </TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0>&nbsp; </TD>
    <TD noWrap align=center width="5%" bgColor=#c0c0c0>&nbsp;</TD>
    <TD noWrap align=center width="8%" bgColor=#c0c0c0><FONT face=serif size=2>&#151;</FONT>&nbsp; </TD>
    <TD noWrap align=right width="5%" bgColor=#c0c0c0>&nbsp;</TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0><FONT face=serif size=2>$</FONT> </TD>
    <TD noWrap align=right width="3%" bgColor=#c0c0c0><FONT face=serif size=2>835,303</FONT> </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="49%"><FONT face=serif size=2>Dr. Gerald
      Paul</FONT>&nbsp; </TD>
    <TD noWrap align=left width="5%">&nbsp;</TD>
    <TD noWrap align=left width="1%">&nbsp;</TD>
    <TD noWrap align=right width="3%"><FONT face=serif size=2>&#151;</FONT> </TD>
    <TD noWrap align=left width="5%">&nbsp;</TD>
    <TD noWrap align=left width="1%">&nbsp;</TD>
    <TD noWrap align=right width="3%"><FONT face=serif size=2>100,000</FONT>
    </TD>
    <TD noWrap align=left width="5%">&nbsp; </TD>
    <TD noWrap align=left width="1%">&nbsp;</TD>
    <TD noWrap align=right width="3%"><FONT face=serif size=2>11,068</FONT>
</TD>
    <TD noWrap align=left width="1%">&nbsp;</TD>
    <TD noWrap align=center width="5%"></TD>
    <TD noWrap align=center width="8%"><FONT face=serif size=2>&#151;</FONT>&nbsp;
    </TD>
    <TD noWrap align=left width="5%"></TD>
    <TD noWrap align=left width="1%">&nbsp;</TD>
    <TD noWrap align=right width="3%"><FONT face=serif size=2>560,028</FONT>
    </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="49%" bgColor=#c0c0c0><FONT face=serif size=2>Dr. Lior Yahalomi</FONT>&nbsp; </TD>
    <TD noWrap align=left width="5%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0>&nbsp; </TD>
    <TD noWrap align=right width="3%" bgColor=#c0c0c0><FONT face=serif size=2>141,773</FONT> </TD>
    <TD noWrap align=left width="5%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0>&nbsp; </TD>
    <TD noWrap align=right width="3%" bgColor=#c0c0c0><FONT face=serif size=2>859</FONT> </TD>
    <TD noWrap align=left width="5%" bgColor=#c0c0c0>&nbsp; </TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0>&nbsp; </TD>
    <TD noWrap align=right width="3%" bgColor=#c0c0c0><FONT face=serif size=2>(146,452</FONT> </TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0><FONT face=serif size=2>)</FONT>&nbsp; </TD>
    <TD noWrap align=center width="5%" bgColor=#c0c0c0></TD>
    <TD noWrap align=center width="8%" bgColor=#c0c0c0><FONT face=serif size=2>&#151;</FONT>&nbsp; </TD>
    <TD noWrap align=left width="5%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=right width="3%" bgColor=#c0c0c0><FONT face=serif size=2>291,406</FONT> </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="49%"><FONT face=serif size=2>Richard
      Grubb</FONT>&nbsp; </TD>
    <TD noWrap align=left width="5%"></TD>
    <TD noWrap align=left width="1%">&nbsp; </TD>
    <TD noWrap align=right width="3%"><FONT face=serif size=2>&#151;</FONT> </TD>
    <TD noWrap align=left width="5%"></TD>
    <TD noWrap align=left width="1%">&nbsp; </TD>
    <TD noWrap align=right width="3%"><FONT face=serif size=2>98,490</FONT>
</TD>
    <TD noWrap align=left width="5%">&nbsp; </TD>
    <TD noWrap align=left width="1%">&nbsp; </TD>
    <TD noWrap align=right width="3%"><FONT face=serif size=2>11,014</FONT>
</TD>
    <TD noWrap align=left width="1%">&nbsp;</TD>
    <TD noWrap align=center width="5%"></TD>
    <TD noWrap align=center width="8%"><FONT face=serif size=2>&#151;</FONT>&nbsp;
    </TD>
    <TD noWrap align=left width="5%"></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=right width="3%"><FONT face=serif size=2>556,868</FONT>
    </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="49%" bgColor=#c0c0c0><FONT face=serif size=2>Marc Zandman</FONT>&nbsp; </TD>
    <TD noWrap align=left width="5%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0>&nbsp; </TD>
    <TD noWrap align=right width="3%" bgColor=#c0c0c0><FONT face=serif size=2>&#151;</FONT> </TD>
    <TD noWrap align=left width="5%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0>&nbsp; </TD>
    <TD noWrap align=right width="3%" bgColor=#c0c0c0><FONT face=serif size=2>100,000</FONT> </TD>
    <TD noWrap align=left width="5%" bgColor=#c0c0c0>&nbsp; </TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0>&nbsp; </TD>
    <TD noWrap align=right width="3%" bgColor=#c0c0c0><FONT face=serif size=2>(178,175</FONT> </TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0><FONT face=serif size=2>)</FONT>&nbsp; </TD>
    <TD noWrap align=center width="5%" bgColor=#c0c0c0></TD>
    <TD noWrap align=center width="8%" bgColor=#c0c0c0><FONT face=serif size=2>&#151;</FONT>&nbsp; </TD>
    <TD noWrap align=left width="5%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=right width="3%" bgColor=#c0c0c0><FONT face=serif size=2>410,053</FONT> </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="49%"><FONT face=serif size=2>Ziv
      Shoshani</FONT>&nbsp; </TD>
    <TD noWrap align=left width="5%"></TD>
    <TD noWrap align=left width="1%">&nbsp; </TD>
    <TD noWrap align=right width="3%"><FONT face=serif size=2>&#151;</FONT> </TD>
    <TD noWrap align=left width="5%"></TD>
    <TD noWrap align=left width="1%">&nbsp; </TD>
    <TD noWrap align=right width="3%"><FONT face=serif size=2>100,000</FONT>
    </TD>
    <TD noWrap align=left width="5%">&nbsp; </TD>
    <TD noWrap align=left width="1%">&nbsp; </TD>
    <TD noWrap align=right width="3%"><FONT face=serif size=2>(48,362</FONT>
    </TD>
    <TD noWrap align=left width="1%"><FONT face=serif size=2>)</FONT>&nbsp;
</TD>
    <TD noWrap align=center width="5%"></TD>
    <TD noWrap align=center width="8%"><FONT face=serif size=2>&#151;</FONT>&nbsp;
    </TD>
    <TD noWrap align=left width="5%"></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=right width="3%"><FONT face=serif size=2>513,647</FONT>
    </TD></TR></TABLE>____________________<BR>&nbsp;<BR>
<TABLE cellSpacing=0 cellPadding=0 border=0>

  <TR>
    <TD vAlign=top noWrap><FONT face=serif size=2>(1)</FONT></TD>
    <TD vAlign=top noWrap>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </TD>
    <TD align=left width="100%">
      <P align=justify><FONT face=serif size=2>These amounts are included in
      Column (i) of the &#147;Summary Compensation Table&#148; as a component of &#147;All
      Other Compensation.&#148; No portion of the earnings credited during 2008 was
      &#147;above market&#148; or &#147;preferential.&#148; Accordingly, no amounts related to
      earnings on deferred compensation have been included in the &#147;Summary
      Compensation Table.&#148;</FONT></P></TD></TR></TABLE>
<P align=justify><B><FONT face=serif size=2>Potential Payments Upon Termination
or a Change in Control </FONT></B></P>
<P align=justify><FONT face=serif size=2>Our employment agreements with our
named executive officers provide incremental compensation in the event of
termination, as described below. Generally, Vishay does not provide any
severance or other benefits specifically upon a change in control. Termination
of employment also impacts outstanding stock options, restricted stock units,
phantom stock units, and nonqualified deferred compensation balances.</FONT></P>
<P align=center><FONT face=serif size=2>40 </FONT></P>
<HR align=center width="100%" noShade SIZE=2>
<PAGE>
<P align=justify><B><I><FONT face=serif size=2>Current Executives other than Dr.
Zandman </FONT></I></B></P>
<P align=justify><FONT face=serif size=2>The executive employment contracts of
Dr. Paul and Messrs. Zandman and Shoshani contain severance provisions providing
generally for 3 years of compensation in the case of a termination without cause
or a voluntary termination by the executive for &#147;good reason&#148; (as defined in the
employment agreement). Specifically, severance items include:</FONT></P>
<UL>
  <LI>
  <P align=justify><FONT face=serif size=2>salary continuation for three years,
  payable over three years;</FONT></P>
  <LI>
  <P align=justify><FONT face=serif size=2>5,000 shares of common stock annually
  for three years. Because these shares are granted after termination of
  employment, actual shares &#150; rather than phantom stock units &#150; are
  granted;</FONT></P>
  <LI>
  <P align=justify><FONT face=serif size=2>bonus for the year of
  termination;</FONT></P>
  <LI>
  <P align=justify><FONT face=serif size=2>$1,500,000 lump sum cash payment.
  This payment replaces the annual deferred compensation credits and the annual
  bonus for the 3-year severance period; </FONT></P>
  <LI>
  <P align=justify><FONT face=serif size=2>lifetime continuation of executive&#146;s
  life insurance benefit; and</FONT></P>
  <LI>
  <P align=justify><FONT face=serif size=2>continuation of executive&#146;s medical
  benefit for a maximum of three years if the termination occurs before
  attaining age 62 and lifetime continuation up to $15,000 annual premium value
  if the termination occurs after attaining age 62.</FONT><FONT face=serif size=2> </FONT></P></LI></UL>
<P align=justify><FONT face=serif size=2>The Company is required to give Dr.
Yahalomi three months prior notice of its intention to terminate his employment
without cause. If he remains employed through the end of the three month period,
he will be entitled to receive a severance payment equal to nine months of base
salary. If the Company terminates his employment without cause and fails to
provide him with three months&#146; notice, or if it terminates his employment
without cause during the notice period, Dr. Yahalomi will be entitled to a
severance payment equal to 12 months of base salary less any salary paid to Dr.
Yahalomi during the shortened notice period. Dr. Yahalomi will receive accrued
benefits under the Vishay Nonqualified Retirement Plan once his pension benefits
are vested. If he leaves the Company prior to vesting, he is entitled only to
the repayment of his contributions plus associated interest.</FONT><FONT face=serif color=#333333 size=2> </FONT></P>
<P align=justify><FONT face=serif size=2>In addition, Dr. Paul will receive
payment of his individual contractual pension in the event of a termination for
any reason, as well as accrued benefits under the Vishay Europe GmbH pension
plan. </FONT></P>
<P align=center><FONT face=serif size=2>41 </FONT></P>
<HR align=center width="100%" noShade SIZE=2>
<PAGE>
<P align=justify><FONT face=serif size=2>The following table sets forth the
compensation that would have been received by each of the Company&#146;s executive
officers other than Dr. Zandman had they been terminated as of December 31,
2008. </FONT></P>
<TABLE cellSpacing=0 cellPadding=0 width="100%" border=0>

  <TR vAlign=bottom>
    <TD noWrap align=left width="56%">&nbsp; </TD>
    <TD noWrap align=center width="4%" colSpan=2></TD>
    <TD noWrap align=center width="3%">&nbsp; </TD>
    <TD noWrap align=center width="4%" colSpan=2></TD>
    <TD noWrap align=center width="3%">&nbsp; </TD>
    <TD noWrap align=center width="4%" colSpan=2></TD>
    <TD noWrap align=center width="3%">&nbsp; </TD>
    <TD noWrap align=center width="4%" colSpan=2><FONT face=serif size=1>Lump
      sum</FONT> </TD>
    <TD noWrap align=center width="3%"></TD>
    <TD noWrap align=center width="4%" colSpan=2></TD>
    <TD noWrap align=center width="2%">&nbsp; </TD>
    <TD noWrap align=center width="4%" colSpan=2></TD>
    <TD noWrap align=center width="2%">&nbsp; </TD>
    <TD noWrap align=center width="4%" colSpan=2><FONT face=serif size=1>Non-qualified</FONT> </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="56%">&nbsp; </TD>
    <TD noWrap align=center width="4%" colSpan=2><FONT face=serif size=1>Salary</FONT> </TD>
    <TD noWrap align=center width="3%">&nbsp; </TD>
    <TD noWrap align=center width="4%" colSpan=2></TD>
    <TD noWrap align=center width="3%">&nbsp; </TD>
    <TD noWrap align=center width="4%" colSpan=2></TD>
    <TD noWrap align=center width="3%">&nbsp; </TD>
    <TD noWrap align=center width="4%" colSpan=2><FONT face=serif size=1>termination</FONT> </TD>
    <TD noWrap align=center width="3%"></TD>
    <TD noWrap align=center width="4%" colSpan=2></TD>
    <TD noWrap align=center width="2%">&nbsp; </TD>
    <TD noWrap align=center width="4%" colSpan=2><FONT face=serif size=1>Life
      insurance /</FONT> </TD>
    <TD noWrap align=center width="2%">&nbsp; </TD>
    <TD noWrap align=center width="4%" colSpan=2><FONT face=serif size=1>deferred</FONT> </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="56%">&nbsp; </TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="4%" colSpan=2><FONT face=serif size=1>cont.</FONT> </TD>
    <TD noWrap align=center width="3%">&nbsp; </TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="4%" colSpan=2><FONT face=serif size=1>Bonus</FONT> </TD>
    <TD noWrap align=center width="3%">&nbsp; </TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="4%" colSpan=2><FONT face=serif size=1>Stock grants</FONT> </TD>
    <TD noWrap align=center width="3%">&nbsp; </TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="4%" colSpan=2>&nbsp;<FONT face=serif size=1>payment</FONT> </TD>
    <TD noWrap align=center width="3%"></TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="4%" colSpan=2>&nbsp;<FONT face=serif size=1>Pension</FONT> </TD>
    <TD noWrap align=center width="2%">&nbsp; </TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="4%" colSpan=2><FONT face=serif size=1>Medical benefit</FONT> </TD>
    <TD noWrap align=center width="2%">&nbsp; </TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="4%" colSpan=2><FONT face=serif size=1>compensation</FONT> </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="56%">&nbsp; </TD>
    <TD noWrap align=center width="4%" colSpan=2><FONT face=serif size=1>(1)</FONT> </TD>
    <TD noWrap align=center width="3%">&nbsp;&nbsp;&nbsp;&nbsp; </TD>
    <TD noWrap align=center width="4%" colSpan=2><FONT face=serif size=1>(2)</FONT> </TD>
    <TD noWrap align=center width="3%">&nbsp;&nbsp;&nbsp;&nbsp; </TD>
    <TD noWrap align=center width="4%" colSpan=2><FONT face=serif size=1>(3)</FONT> </TD>
    <TD noWrap align=center width="3%">&nbsp;&nbsp;&nbsp;&nbsp; </TD>
    <TD noWrap align=center width="4%" colSpan=2>&nbsp; </TD>
    <TD noWrap align=center width="3%">&nbsp;&nbsp;&nbsp;&nbsp; </TD>
    <TD noWrap align=center width="4%" colSpan=2><FONT face=serif size=1>(4)</FONT> </TD>
    <TD noWrap align=center width="2%">&nbsp;&nbsp;&nbsp;&nbsp; </TD>
    <TD noWrap align=center width="4%" colSpan=2><FONT face=serif size=1>(4)</FONT> </TD>
    <TD noWrap align=center width="2%">&nbsp;&nbsp;&nbsp;&nbsp; </TD>
    <TD noWrap align=center width="4%" colSpan=2><FONT face=serif size=1>(5)</FONT> </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="56%" bgColor=#c0c0c0><FONT face=serif size=1>Dr. Gerald Paul</FONT>&nbsp; </TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0><FONT face=serif size=1>$
      </FONT>&nbsp;</TD>
    <TD noWrap align=right width="3%" bgColor=#c0c0c0><FONT face=serif size=1>3,311,817</FONT> </TD>
    <TD noWrap align=left width="3%" bgColor=#c0c0c0>&nbsp; </TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0><FONT face=serif size=1>$
      </FONT>&nbsp;</TD>
    <TD noWrap align=right width="3%" bgColor=#c0c0c0><FONT face=serif size=1>981,889</FONT> </TD>
    <TD noWrap align=left width="3%" bgColor=#c0c0c0>&nbsp; </TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0><FONT face=serif size=1>$</FONT> </TD>
    <TD noWrap align=right width="3%" bgColor=#c0c0c0><FONT face=serif size=1>51,300</FONT> </TD>
    <TD noWrap align=left width="3%" bgColor=#c0c0c0>&nbsp; </TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0><FONT face=serif size=1>$
      </FONT>&nbsp;</TD>
    <TD noWrap align=right width="3%" bgColor=#c0c0c0><FONT face=serif size=1>1,500,000</FONT> </TD>
    <TD noWrap align=left width="3%" bgColor=#c0c0c0>&nbsp;</TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0><FONT face=serif size=1>$
      </FONT>&nbsp;</TD>
    <TD noWrap align=right width="3%" bgColor=#c0c0c0><FONT face=serif size=1>1,728,993</FONT> </TD>
    <TD noWrap align=left width="2%" bgColor=#c0c0c0>&nbsp;</TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0><FONT face=serif size=1>$</FONT> </TD>
    <TD noWrap align=right width="3%" bgColor=#c0c0c0><FONT face=serif size=1>156,309</FONT> </TD>
    <TD noWrap align=left width="2%" bgColor=#c0c0c0>&nbsp;</TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0><FONT face=serif size=1>$</FONT> </TD>
    <TD noWrap align=right width="3%" bgColor=#c0c0c0><FONT face=serif size=1>560,028</FONT> </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="56%"><FONT face=serif size=1>Dr. Lior
      Yahalomi</FONT>&nbsp; </TD>
    <TD noWrap align=left width="1%">&nbsp;</TD>
    <TD noWrap align=right width="3%"><FONT face=serif size=1>295,144</FONT>
    </TD>
    <TD noWrap align=left width="3%">&nbsp;</TD>
    <TD noWrap align=left width="1%">&nbsp;</TD>
    <TD noWrap align=right width="3%"><FONT face=serif size=1>45,313</FONT>
</TD>
    <TD noWrap align=left width="3%">&nbsp;</TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=right width="3%"><FONT face=serif size=1><FONT size=2>&#150;</FONT><FONT size=3> </FONT></FONT></TD>
    <TD noWrap align=left width="3%">&nbsp;</TD>
    <TD noWrap align=left width="1%">&nbsp;</TD>
    <TD noWrap align=right width="3%"><FONT face=serif size=1><FONT size=2>&#150;</FONT><FONT size=3> </FONT></FONT></TD>
    <TD noWrap align=left width="3%"></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=right width="3%"><FONT face=serif size=1>31,523</FONT>
</TD>
    <TD noWrap align=left width="2%">&nbsp; </TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=right width="3%"><FONT face=serif size=1><FONT size=2>&#150;</FONT><FONT size=3> </FONT></FONT></TD>
    <TD noWrap align=left width="2%">&nbsp; </TD>
    <TD noWrap align=left width="1%">&nbsp;</TD>
    <TD noWrap align=right width="3%"><FONT face=serif size=1>291,406</FONT>
    </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="56%" bgColor=#c0c0c0><FONT face=serif size=1>Marc Zandman</FONT>&nbsp; </TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=right width="3%" bgColor=#c0c0c0><FONT face=serif size=1>1,189,782</FONT> </TD>
    <TD noWrap align=left width="3%" bgColor=#c0c0c0>&nbsp; </TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=right width="3%" bgColor=#c0c0c0><FONT face=serif size=1>90,225</FONT> </TD>
    <TD noWrap align=left width="3%" bgColor=#c0c0c0>&nbsp; </TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=right width="3%" bgColor=#c0c0c0><FONT face=serif size=1>51,300</FONT> </TD>
    <TD noWrap align=left width="3%" bgColor=#c0c0c0>&nbsp; </TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=right width="3%" bgColor=#c0c0c0><FONT face=serif size=1>1,500,000</FONT> </TD>
    <TD noWrap align=left width="3%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=right width="3%" bgColor=#c0c0c0><FONT face=serif size=1><FONT size=2>&#150;</FONT><FONT size=3> </FONT></FONT></TD>
    <TD noWrap align=left width="2%" bgColor=#c0c0c0>&nbsp; </TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=right width="3%" bgColor=#c0c0c0><FONT face=serif size=1>51,904</FONT> </TD>
    <TD noWrap align=left width="2%" bgColor=#c0c0c0>&nbsp; </TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0></TD>
    <TD noWrap align=right width="3%" bgColor=#c0c0c0><FONT face=serif size=1>410,053</FONT> </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="56%"><FONT face=serif size=1>Ziv
      Shoshani</FONT>&nbsp; </TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=right width="3%"><FONT face=serif size=1>1,004,457</FONT>
    </TD>
    <TD noWrap align=left width="3%">&nbsp; </TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=right width="3%"><FONT face=serif size=1>39,341</FONT>
</TD>
    <TD noWrap align=left width="3%">&nbsp; </TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=right width="3%"><FONT face=serif size=1>51,300</FONT>
</TD>
    <TD noWrap align=left width="3%">&nbsp; </TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=right width="3%"><FONT face=serif size=1>1,500,000</FONT>
    </TD>
    <TD noWrap align=left width="3%"></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=right width="3%"><FONT face=serif size=1><FONT size=2>&#150;</FONT><FONT size=3> </FONT></FONT></TD>
    <TD noWrap align=left width="2%">&nbsp; </TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=right width="3%"><FONT face=serif size=1>27,612</FONT>
</TD>
    <TD noWrap align=left width="2%">&nbsp; </TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=right width="3%"><FONT face=serif size=1>513,647</FONT>
    </TD></TR></TABLE>____________________<BR>&nbsp;<BR>
<TABLE cellSpacing=0 cellPadding=0 border=0>

  <TR>
    <TD vAlign=top noWrap><FONT size=2><FONT face=serif size=2>(1)</FONT></FONT></TD>
    <TD vAlign=top noWrap>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </TD>
    <TD align=left width="100%">
      <P align=justify><FONT face=serif size=2>Equals 3 times U.S. dollar value
      of 2008 salary, paid over three years, for Dr. Paul and Messrs. Zandman
      and Shoshoni.</FONT></P></TD></TR>
  <TR>
    <TD vAlign=top noWrap></TD>
    <TD vAlign=top noWrap></TD>
    <TD align=left width="100%">&nbsp;&nbsp; </TD></TR>
  <TR>
    <TD vAlign=top noWrap><FONT size=2>(2)</FONT></TD>
    <TD vAlign=top noWrap></TD>
    <TD align=left width="100%">
      <P align=justify><FONT size=2>Consists of bonus and non-equity incentive
      plan compensation for 2008 as reflected in the &#147;Summary Compensation
      Table&#148;.</FONT></P></TD></TR>
  <TR>
    <TD vAlign=top noWrap></TD>
    <TD vAlign=top noWrap></TD>
    <TD align=left width="100%">&nbsp; </TD></TR>
  <TR>
    <TD vAlign=top noWrap><FONT size=2>(3)</FONT></TD>
    <TD vAlign=top noWrap></TD>
    <TD align=left width="100%">
      <P align=justify><FONT size=2>Equals 15,000 shares multiplied by $3.42,
      which was the closing price of Vishay&#146;s common stock on December 31, 2008.
      The shares are to be paid out over three years.</FONT></P></TD></TR>
  <TR>
    <TD vAlign=top noWrap></TD>
    <TD vAlign=top noWrap></TD>
    <TD align=left width="100%">&nbsp; </TD></TR>
  <TR>
    <TD vAlign=top noWrap><FONT size=2>(4)</FONT></TD>
    <TD vAlign=top noWrap></TD>
    <TD align=left width="100%">
      <P align=justify><FONT size=2>Present value of accumulated benefit
      reflected in the &#147;Pension Benefits&#148; table, paid annually until
      death.</FONT></P></TD></TR>
  <TR>
    <TD vAlign=top noWrap></TD>
    <TD vAlign=top noWrap></TD>
    <TD align=left width="100%">&nbsp;</TD></TR>
  <TR>
    <TD vAlign=top noWrap><FONT size=2>(5)</FONT></TD>
    <TD vAlign=top noWrap></TD>
    <TD align=left width="100%">
      <P align=justify><FONT size=2>Aggregate balance at year end as reflected
      in the &#147;Nonqualified Deferred Compensation&#148;
table.</FONT></P></TD></TR></TABLE>
<P></P>
<P><B><I><FONT face=serif size=2>Dr. Zandman </FONT></I></B></P>
<P align=justify><FONT face=serif size=2>Due to Dr. Zandman&#146;s unique position
with Vishay, the Compensation Committee decided that any severance package for
Dr. Zandman would be negotiated at the time of Dr. Zandman&#146;s termination of
employment. Dr. Zandman&#146;s employment agreement provides that in the event of a
termination of his employment by Vishay without cause or by Dr. Zandman for
&#147;good reason&#148; (as defined in the employment agreement), Dr. Zandman will receive
the annual bonus for the year of termination and the reactivation of a
previously negotiated royalty arrangement. Under the royalty arrangement, Dr.
Zandman is entitled to receive a royalty during the ten years following his
termination of employment equal to 5% of gross sales, less returns and
allowances, of Vishay products incorporating inventions created, discovered or
developed by him or under his direction. This provision was carried over from
Dr. Zandman&#146;s original employment agreement of March 1985, and cannot be
modified or eliminated without Dr. Zandman&#146;s consent.</FONT></P>
<P align=justify><FONT face=serif size=2>The Company engaged a consultant in
2007 to assist its evaluation of the royalties to which Dr. Zandman would be
entitled under his contract were his employment to be terminated. Based in part
upon the work of this consultant and its own updated computations, management
estimates that the present value of the royalties to which Dr. Zandman would be
entitled were his employment terminated at December 31, 2008 would be between
approximately $370 million and $445 million. The estimate requires management to
make significant estimates and assumptions regarding the total revenues of the
Company and the revenue attributable to
products subject to the royalty arrangement during the ten-year royalty payment period. Actual royalty payments would
likely differ from this estimate. The discount rate used in computing the present value of the
royalty payments is based upon the Company&#146;s weighted average cost of capital at
December 31, 2008 and reflects significant market risk premiums.</FONT></P>
<P align=center><FONT face=serif size=2>42</FONT></P>
<HR align=center width="100%" noShade SIZE=2>
<PAGE>
<P align=justify><B><I><FONT face=serif size=2>Golden Parachute
Gross-up</FONT></I></B><FONT face=serif size=2> </FONT></P>
<P align=justify><FONT face=serif size=2>Section 4999 of the Internal Revenue
Code imposes a 20% excise tax on certain compensation paid upon a change in
control if the compensation exceeds three times the executive&#146;s average annual
compensation. Vishay does not provide any severance or other benefits
specifically upon a change in control, but under the Internal Revenue Service
interpretations of the Section 4999 rules, if a termination of employment
occurred in connection with a change in control, the severance might be subject
to the excise tax. The 2004 employment agreements provide for Vishay to
reimburse the named executive officers for any excise tax. The Compensation
Committee believes that it would be unfair for the executive to be taxed in such
a case since the payments are not intended to be made with respect to a change
in control. </FONT></P>
<P align=justify><B><I><FONT face=serif size=2>Impact on Nonqualified Deferred
Compensation Balances </FONT></I></B></P>
<P align=justify><FONT face=serif size=2>As described above, the named executive
officers participate in a nonqualified deferred compensation plan. All of the
named executive officers have elected to defer such compensation until
retirement or termination of employment, at which time the amounts would be paid
in a lump sum.</FONT><B><I><FONT face=serif size=2> </FONT></I></B></P>
<P align=justify><B><I><FONT face=serif size=2>Impact on Outstanding Stock
Options </FONT></I></B></P>
<P align=justify><FONT face=serif size=2>The named executive officers have stock
options outstanding that were granted under the 1998 Stock Option Program or the
2007 Stock Incentive Program. The outstanding stock options as of December 31,
2008 were as follows: </FONT></P>
<DIV align=center>
<TABLE cellSpacing=0 cellPadding=0 width="60%" border=0>

  <TR vAlign=bottom>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="38%"><B><FONT face=serif size=2>Name</FONT></B> </TD>
    <TD noWrap align=center width="5%"></TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="16%"><B><FONT face=serif size=2>1998 Program</FONT></B>&nbsp; </TD>
    <TD noWrap align=center width="5%"></TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="15%"><B><FONT face=serif size=2>2007 Program</FONT></B>&nbsp; </TD>
    <TD noWrap align=center width="5%"></TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="15%"><B><FONT face=serif size=2>Total</FONT></B>&nbsp; </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="38%" bgColor=#c0c0c0><FONT face=serif size=2>Dr. Felix Zandman</FONT>&nbsp; </TD>
    <TD noWrap align=right width="5%" bgColor=#c0c0c0></TD>
    <TD noWrap align=right width="16%" bgColor=#c0c0c0><FONT face=serif size=2>277,500</FONT> </TD>
    <TD noWrap align=center width="5%" bgColor=#c0c0c0></TD>
    <TD noWrap align=center width="15%" bgColor=#c0c0c0><FONT face=serif size=2>&#151;<FONT style="BACKGROUND-COLOR: #c0c0c0" size=3>&nbsp;
      </FONT></FONT></TD>
    <TD noWrap align=right width="5%" bgColor=#c0c0c0></TD>
    <TD noWrap align=right width="15%" bgColor=#c0c0c0><FONT face=serif size=2>277,500</FONT> </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="38%"><FONT face=serif size=2>Dr. Gerald
      Paul</FONT>&nbsp; </TD>
    <TD noWrap align=right width="5%">&nbsp;</TD>
    <TD noWrap align=right width="16%"><FONT face=serif size=2>185,000</FONT>
    </TD>
    <TD noWrap align=center width="5%"></TD>
    <TD noWrap align=center width="15%"><FONT face=serif size=2>&#151;<FONT size=3>&nbsp; </FONT></FONT></TD>
    <TD noWrap align=right width="5%"></TD>
    <TD noWrap align=right width="15%"><FONT face=serif size=2>185,000</FONT>
    </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="38%" bgColor=#c0c0c0><FONT face=serif size=2>Dr. Lior Yahalomi</FONT>&nbsp; </TD>
    <TD noWrap align=center width="5%" bgColor=#c0c0c0></TD>
    <TD noWrap align=right width="16%" bgColor=#c0c0c0><FONT face=serif size=2>&#151;<FONT size=3> </FONT></FONT></TD>
    <TD noWrap align=center width="5%" bgColor=#c0c0c0>&nbsp;</TD>
    <TD noWrap align=center width="15%" bgColor=#c0c0c0><FONT face=serif size=2>75,000</FONT>&nbsp; </TD>
    <TD noWrap align=right width="5%" bgColor=#c0c0c0>&nbsp;</TD>
    <TD noWrap align=right width="15%" bgColor=#c0c0c0><FONT face=serif size=2>75,000</FONT> </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="38%"><FONT face=serif size=2>Marc
      Zandman</FONT>&nbsp; </TD>
    <TD noWrap align=right width="5%"></TD>
    <TD noWrap align=right width="16%"><FONT face=serif size=2>55,000</FONT>
    </TD>
    <TD noWrap align=center width="5%"></TD>
    <TD noWrap align=center width="15%"><FONT face=serif size=2>&#151;<FONT size=3>&nbsp; </FONT></FONT></TD>
    <TD noWrap align=right width="5%"></TD>
    <TD noWrap align=right width="15%"><FONT face=serif size=2>55,000</FONT>
    </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="38%" bgColor=#c0c0c0><FONT face=serif size=2>Ziv Shoshani</FONT>&nbsp; </TD>
    <TD noWrap align=right width="5%" bgColor=#c0c0c0></TD>
    <TD noWrap align=right width="16%" bgColor=#c0c0c0><FONT face=serif size=2>55,000</FONT> </TD>
    <TD noWrap align=center width="5%" bgColor=#c0c0c0></TD>
    <TD noWrap align=center width="15%" bgColor=#c0c0c0><FONT face=serif size=2>&#151;</FONT>&nbsp; </TD>
    <TD noWrap align=right width="5%" bgColor=#c0c0c0></TD>
    <TD noWrap align=right width="15%" bgColor=#c0c0c0><FONT face=serif size=2>55,000</FONT> </TD></TR></TABLE></DIV><BR>
<P align=justify><FONT face=serif size=2>Pursuant to the 1998 Stock Option
Program and the 2007 Stock Incentive Program, upon termination by retirement,
death, or disability, an optionee has up to 12 months to exercise any vested
options (limited by the expiration date of the respective options). Upon
voluntary termination, the optionee has up to 60 days to exercise any vested
options. However, Vishay has, in the past, modified these terms as part of
negotiated termination agreements. </FONT></P>
<P align=justify><FONT face=serif size=2>Based on the year-end 2008 closing
price of $3.42 for Vishay&#146;s common stock on the NYSE, none of the options
currently held by our named executive officers are in the money. </FONT></P>
<P align=justify><B><I><FONT face=serif size=2>Impact on Restricted Stock Units
</FONT></I></B></P>
<P align=justify><FONT face=serif size=2>Certain executive officers received
grants of restricted stock units. In the event of termination, all unvested
restricted stock units are forfeited. At December 31, 2008, Dr. Zandman and Dr.
Paul had 70,000 and 46,667 unvested restricted stock units,
respectively.</FONT></P>
<P align=center><FONT face=serif size=2>43 </FONT></P>
<HR align=center width="100%" noShade SIZE=2>
<PAGE>
<P align=justify><B><I><FONT face=serif size=2>Impact on Phantom Stock Units
</FONT></I></B></P>
<P align=justify><FONT face=serif size=2>Certain executive officers receive an
annual grant of 5,000 phantom stock units pursuant to their respective
employment agreements. Upon termination of employment, each executive will
receive one share of Vishay common stock for each phantom stock unit held.
</FONT></P>
<P align=justify><FONT face=serif size=2>The table below shows the total phantom
stock units held by certain executive officers and the value of the underlying
common stock at December 31, 2008:</FONT><FONT face=serif size=2> </FONT></P>
<DIV align=center>
<TABLE cellSpacing=0 cellPadding=0 width="60%" border=0>

  <TR vAlign=bottom>
    <TD noWrap align=left width="55%">&nbsp; </TD>
    <TD noWrap align=center width="10%"></TD>
    <TD noWrap align=center width="20%"><B><FONT face=serif size=2>Phantom</FONT></B> </TD>
    <TD noWrap align=left width="10%"></TD>
    <TD noWrap align=left width="4%" colSpan=2>&nbsp; &nbsp; </TD></TR>
  <TR vAlign=bottom>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="55%"><B><FONT face=serif size=2>Name</FONT></B>&nbsp; </TD>
    <TD noWrap align=center width="10%"></TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="20%"><B><FONT face=serif size=2>Stock Units</FONT></B> </TD>
    <TD noWrap align=left width="10%"></TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="4%" colSpan=2><B><FONT face=serif size=2>Value</FONT></B> </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="55%" bgColor=#c0c0c0><FONT face=serif size=2>Dr. Felix Zandman</FONT>&nbsp; </TD>
    <TD noWrap align=right width="10%" bgColor=#c0c0c0>&nbsp;</TD>
    <TD noWrap align=right width="20%" bgColor=#c0c0c0><FONT face=serif size=2>25,000</FONT> </TD>
    <TD noWrap align=left width="10%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0><FONT face=serif size=2>$</FONT>&nbsp; </TD>
    <TD noWrap align=right width="3%" bgColor=#c0c0c0><FONT face=serif size=2>85,500</FONT> </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="55%"><FONT face=serif size=2>Dr. Gerald
      Paul</FONT>&nbsp; </TD>
    <TD noWrap align=right width="10%"></TD>
    <TD noWrap align=right width="20%"><FONT face=serif size=2>25,000</FONT>
    </TD>
    <TD noWrap align=left width="10%">&nbsp;</TD>
    <TD noWrap align=left width="1%"><FONT face=serif size=2>$</FONT>&nbsp;
</TD>
    <TD noWrap align=right width="3%"><FONT face=serif size=2>85,500</FONT>
  </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="55%" bgColor=#c0c0c0><FONT face=serif size=2>Marc Zandman</FONT>&nbsp; </TD>
    <TD noWrap align=right width="10%" bgColor=#c0c0c0></TD>
    <TD noWrap align=right width="20%" bgColor=#c0c0c0><FONT face=serif size=2>25,000</FONT> </TD>
    <TD noWrap align=left width="10%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0><FONT face=serif size=2>$</FONT>&nbsp; </TD>
    <TD noWrap align=right width="3%" bgColor=#c0c0c0><FONT face=serif size=2>85,500</FONT> </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="55%"><FONT face=serif size=2>Ziv
      Shoshani</FONT>&nbsp; </TD>
    <TD noWrap align=right width="10%"></TD>
    <TD noWrap align=right width="20%"><FONT face=serif size=2>25,000</FONT>
    </TD>
    <TD noWrap align=left width="10%"></TD>
    <TD noWrap align=left width="1%"><FONT face=serif size=2>$</FONT>&nbsp;
</TD>
    <TD noWrap align=right width="3%"><FONT face=serif size=2>85,500</FONT>
  </TD></TR></TABLE></DIV><BR>
<P align=justify><FONT face=serif size=2>The table above excludes the 2009
annual grant to certain executive officers of 5,000 phantom stock units.
</FONT></P>
<P align=justify><B><I><FONT face=serif size=2>Severance of Richard N.
Grubb</FONT></I></B></P>
<P align=justify><FONT face=serif size=2>Effective September 1, 2008, Mr. Grubb
terminated his employment for &#147;good reason&#148; (as defined in his employment
agreement), as a result of organizational changes in the Company&#146;s corporate
finance and accounting functions. Mr. Grubb currently serves as a part-time
consultant to Dr. Zandman in his capacity as Executive Chairman under an at-will
arrangement. Under the terms of his employment agreement, Mr. Grubb is entitled
to receive:</FONT><FONT face=sans-serif color=#333333 size=2> </FONT></P>
<UL>
  <LI>
  <P align=justify><FONT face=sans-serif size=2></FONT><FONT face=serif size=2>continued payment for a three-year period of his $485,000 annual
  salary;</FONT></P>
  <LI>
  <P align=justify><FONT face=serif size=2>5,000 shares of common stock annually
  for three years;</FONT></P>
  <LI>
  <P align=justify><FONT face=serif size=2>a $991,889 bonus for 2008 in
  accordance with the Company&#146;s 162(m) Plan, which was payable to him upon
  termination;</FONT></P>
  <LI>
  <P align=justify><FONT face=serif size=2>$1,500,000 lump sum cash payment,
  which was payable to him upon termination; and</FONT><FONT face=sans-serif size=2> </FONT></P>
  <LI>
  <P align=justify><FONT face=serif size=2>lifetime continuation of his medical
  benefit up to $15,000 annual premium value and lifetime continuation of his
  life insurance.</FONT><FONT face=sans-serif size=2> </FONT></P></LI></UL>
<P align=justify><FONT face=serif size=2>Mr. Grubb is also entitled to receive
the payout of his nonqualified deferred compensation plan benefit upon
termination. Payment of this benefit is delayed by six months due to &#147;key
employee&#148; provisions of Section 409A. All options held by Mr. Grubb, vested and
unvested, expired by their terms in 2008 and all 25,000 phantom stock units held
by Mr. Grubb were converted into shares of common stock following termination of
his employment. </FONT></P>
<P align=justify><FONT face=serif size=2>The Company recorded $3,575,000 in
severance charges associated with Mr. Grubb&#146;s termination during 2008. Mr. Grubb
currently serves as a part-time consultant to the Company&#146;s Executive Chairman
under an at-will arrangement, for which he earned $80,000 during 2008.
</FONT></P>
<P align=center><FONT face=serif size=2>44 </FONT></P>
<HR align=center width="100%" noShade SIZE=2>
<PAGE>
<P align=justify><B><FONT face=serif size=2>Additional Information on Equity
Compensation Plans </FONT></B></P>
<P align=justify><FONT face=serif size=2>The following table provides certain
information concerning our equity compensation plans as of December 31, 2008.
</FONT></P>
<TABLE cellSpacing=0 cellPadding=0 width="100%" border=0>

  <TR vAlign=bottom>
    <TD noWrap align=left width="72%">&nbsp; </TD>
    <TD noWrap align=center width="10%">&nbsp; </TD>
    <TD noWrap align=center width="2%"></TD>
    <TD noWrap align=center width="1%">&nbsp; </TD>
    <TD noWrap align=center width="3%">&nbsp; </TD>
    <TD noWrap align=center width="2%"></TD>
    <TD noWrap align=center width="10%"><FONT face=serif size=2>Number of
      shares of</FONT> </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="72%">&nbsp; </TD>
    <TD noWrap align=center width="10%">&nbsp; </TD>
    <TD noWrap align=center width="2%"></TD>
    <TD noWrap align=center width="1%">&nbsp; </TD>
    <TD noWrap align=center width="3%">&nbsp; </TD>
    <TD noWrap align=center width="2%"></TD>
    <TD noWrap align=center width="10%"><FONT face=serif size=2>Common
      Stock</FONT> </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="72%">&nbsp; </TD>
    <TD noWrap align=center width="10%">&nbsp; </TD>
    <TD noWrap align=center width="2%"></TD>
    <TD noWrap align=center width="4%" colSpan=2><FONT face=serif size=2>Weighted-</FONT> </TD>
    <TD noWrap align=center width="2%"></TD>
    <TD noWrap align=center width="10%"><FONT face=serif size=2>remaining
      available</FONT> </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="72%">&nbsp; </TD>
    <TD noWrap align=center width="10%"><FONT face=serif size=2>Number of
      shares of</FONT> </TD>
    <TD noWrap align=center width="2%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </TD>
    <TD noWrap align=center width="4%" colSpan=2><FONT face=serif size=2>average</FONT> </TD>
    <TD noWrap align=center width="2%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </TD>
    <TD noWrap align=center width="10%"><FONT face=serif size=2>for future
      issuance</FONT> </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="72%">&nbsp; </TD>
    <TD noWrap align=center width="10%"><FONT face=serif size=2>Common Stock
      to</FONT> </TD>
    <TD noWrap align=center width="2%"></TD>
    <TD noWrap align=center width="4%" colSpan=2><FONT face=serif size=2>exercise price</FONT> </TD>
    <TD noWrap align=center width="2%"></TD>
    <TD noWrap align=center width="10%"><FONT face=serif size=2>under
      equity</FONT> </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="72%">&nbsp; </TD>
    <TD noWrap align=center width="10%"><FONT face=serif size=2>be issued
      upon</FONT> </TD>
    <TD noWrap align=center width="2%"></TD>
    <TD noWrap align=center width="4%" colSpan=2><FONT face=serif size=2>of
      outstanding</FONT> </TD>
    <TD noWrap align=center width="2%">&nbsp;</TD>
    <TD noWrap align=center width="10%"><FONT face=serif size=2>compensation
      plans</FONT> </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="72%">&nbsp; </TD>
    <TD noWrap align=center width="10%"><FONT face=serif size=2>exercise
      of</FONT> </TD>
    <TD noWrap align=center width="2%"></TD>
    <TD noWrap align=center width="4%" colSpan=2><FONT face=serif size=2>options,</FONT> </TD>
    <TD noWrap align=center width="2%"></TD>
    <TD noWrap align=center width="10%"><FONT face=serif size=2>(excluding
      shares</FONT> </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="72%">&nbsp; </TD>
    <TD noWrap align=center width="10%"><FONT face=serif size=2>outstanding
      options,</FONT> </TD>
    <TD noWrap align=center width="2%"></TD>
    <TD noWrap align=center width="4%" colSpan=2><FONT face=serif size=2>warrants and</FONT> </TD>
    <TD noWrap align=center width="2%"></TD>
    <TD noWrap align=center width="10%"><FONT face=serif size=2>reflected in
      the first</FONT> </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="72%">&nbsp; </TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="10%"><FONT face=serif size=2>warrants and rights</FONT> </TD>
    <TD noWrap align=center width="2%">&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="4%" colSpan=2><FONT face=serif size=2>rights</FONT> </TD>
    <TD noWrap align=center width="2%"></TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="10%"><FONT face=serif size=2>column)</FONT> </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="72%" bgColor=#c0c0c0><B><FONT face=serif size=2>Equity compensation plans approved by stockholders
      </FONT></B><B><SUP><FONT face=serif size=2>(1)</FONT></SUP></B>&nbsp; </TD>
    <TD noWrap align=left width="10%" bgColor=#c0c0c0>&nbsp; </TD>
    <TD noWrap align=left width="2%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0>&nbsp; </TD>
    <TD noWrap align=left width="3%" bgColor=#c0c0c0>&nbsp; </TD>
    <TD noWrap align=left width="2%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="10%" bgColor=#c0c0c0>&nbsp;</TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="72%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT face=serif size=2>1998 Stock Option Program</FONT>&nbsp; </TD>
    <TD noWrap align=right width="10%"><FONT face=serif size=2>1,886,000</FONT> </TD>
    <TD noWrap align=left width="2%"></TD>
    <TD noWrap align=left width="1%"><FONT face=serif size=2>$</FONT>&nbsp;
</TD>
    <TD noWrap align=right width="3%"><FONT face=serif size=2>19.69</FONT> </TD>
    <TD noWrap align=right width="2%"></TD>
    <TD noWrap align=right width="10%"><FONT face=serif size=2>&#151;</FONT> </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="72%" bgColor=#c0c0c0>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT face=serif size=2>General Semiconductor Stock Option Program</FONT>&nbsp; </TD>
    <TD noWrap align=right width="10%" bgColor=#c0c0c0><FONT face=serif size=2>1,931,000</FONT> </TD>
    <TD noWrap align=left width="2%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0><FONT face=serif size=2>$</FONT>&nbsp; </TD>
    <TD noWrap align=right width="3%" bgColor=#c0c0c0><FONT face=serif size=2>17.69</FONT> </TD>
    <TD noWrap align=right width="2%" bgColor=#c0c0c0></TD>
    <TD noWrap align=right width="10%" bgColor=#c0c0c0><FONT face=serif size=2>&#151;</FONT> </TD></TR>
  <TR>
    <TD width="100%" colSpan=7>&nbsp; </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="72%" bgColor=#c0c0c0>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT face=serif size=2>2007
      Stock Incentive Program </FONT><SUP><FONT face=serif size=2>(2)</FONT></SUP>&nbsp; </TD>
    <TD noWrap align=left width="10%" bgColor=#c0c0c0>&nbsp; </TD>
    <TD noWrap align=left width="2%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0>&nbsp; </TD>
    <TD noWrap align=left width="3%" bgColor=#c0c0c0>&nbsp; </TD>
    <TD noWrap align=left width="2%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="10%" bgColor=#c0c0c0></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="72%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT face=serif size=2>Stock options</FONT>&nbsp; </TD>
    <TD noWrap align=right width="10%"><FONT face=serif size=2>87,000</FONT>
    </TD>
    <TD noWrap align=left width="2%"></TD>
    <TD noWrap align=left width="1%"><FONT face=serif size=2>$</FONT>&nbsp;
</TD>
    <TD noWrap align=right width="3%"><FONT face=serif size=2>12.89</FONT> </TD>
    <TD noWrap align=right width="2%"></TD>
    <TD noWrap align=right width="10%"><FONT face=serif size=2><SUP>(2)</SUP></FONT> </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="72%" bgColor=#c0c0c0>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT face=serif size=2>Restricted Stock Units</FONT>&nbsp; </TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=right width="10%" bgColor=#c0c0c0><FONT face=serif size=2>197,000</FONT> </TD>
    <TD noWrap align=left width="2%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0>&nbsp; </TD>
    <TD noWrap align=right width="3%" bgColor=#c0c0c0><FONT face=serif size=2>n/a</FONT> </TD>
    <TD noWrap align=right width="2%" bgColor=#c0c0c0></TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=right width="10%" bgColor=#c0c0c0><FONT face=serif size=1><SUP><FONT size=2>(2)</FONT></SUP><FONT size=3> </FONT></FONT></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="72%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT face=serif size=2>Total 2007 Stock Incentive Program</FONT>&nbsp; </TD>
    <TD noWrap align=right width="10%"><FONT face=serif size=2>284,000</FONT>
    </TD>
    <TD noWrap align=left width="2%"></TD>
    <TD noWrap align=left width="1%">&nbsp; </TD>
    <TD noWrap align=left width="3%">&nbsp; </TD>
    <TD noWrap align=right width="2%"></TD>
    <TD noWrap align=right width="10%"><FONT face=serif size=2>2,625,000</FONT> </TD></TR>
  <TR>
    <TD width="100%" colSpan=7>&nbsp; </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="72%" bgColor=#c0c0c0>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT face=serif size=2>Senior Executive Phantom Stock Plan </FONT><SUP><FONT face=serif size=2>(3)</FONT></SUP>&nbsp; </TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=right width="10%" bgColor=#c0c0c0><FONT face=serif size=2>100,000</FONT> </TD>
    <TD noWrap align=left width="2%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0>&nbsp; </TD>
    <TD noWrap align=right width="3%" bgColor=#c0c0c0><FONT face=serif size=2>n/a</FONT> </TD>
    <TD noWrap align=right width="2%" bgColor=#c0c0c0></TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=right width="10%" bgColor=#c0c0c0><FONT face=serif size=2>165,000</FONT> </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="72%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT face=serif size=2>Total approved by stockholders</FONT>&nbsp; </TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=right width="10%"><FONT face=serif size=2>4,201,000</FONT> </TD>
    <TD noWrap align=left width="2%"></TD>
    <TD noWrap align=left width="1%">&nbsp; </TD>
    <TD noWrap align=left width="3%">&nbsp; </TD>
    <TD noWrap align=right width="2%"></TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=right width="10%"><FONT face=serif size=2>2,790,000</FONT> </TD></TR>
  <TR>
    <TD width="100%" colSpan=7>&nbsp; </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="72%" bgColor=#c0c0c0><B><FONT face=serif size=2>Equity compensation plans not approved by
      stockholders</FONT></B>&nbsp; </TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=right width="10%" bgColor=#c0c0c0><FONT face=serif size=2>&#151;</FONT> </TD>
    <TD noWrap align=left width="2%" bgColor=#c0c0c0></TD>
    <TD noWrap align=left width="1%" bgColor=#c0c0c0>&nbsp; </TD>
    <TD noWrap align=right width="3%" bgColor=#c0c0c0><FONT face=serif size=2>&#151;</FONT> </TD>
    <TD noWrap align=right width="2%" bgColor=#c0c0c0></TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=right width="10%" bgColor=#c0c0c0><FONT face=serif size=2>&#151;</FONT> </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="72%"><B><FONT face=serif size=2>Total equity
      compensation plans</FONT></B>&nbsp; </TD>
    <TD style="BORDER-BOTTOM: #000000 2pt double" noWrap align=right width="10%"><FONT face=serif size=2>4,201,000</FONT> </TD>
    <TD noWrap align=left width="2%"></TD>
    <TD noWrap align=left width="1%">&nbsp; </TD>
    <TD noWrap align=left width="3%">&nbsp; </TD>
    <TD noWrap align=right width="2%"></TD>
    <TD style="BORDER-BOTTOM: #000000 2pt double" noWrap align=right width="10%"><FONT face=serif size=2>2,790,000</FONT>
</TD></TR></TABLE>____________________<BR>&nbsp;<BR>
<TABLE cellSpacing=0 cellPadding=0 border=0>

  <TR>
    <TD vAlign=top noWrap><FONT face=serif size=2>(1)</FONT></TD>
    <TD vAlign=top noWrap>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </TD>
    <TD align=left width="100%">
      <P align=justify><FONT face=serif size=2>Additional information about
      these plans is presented in Note 12 to the Company's consolidated
      financial statements, which are included in the Company's Annual Report on
      Form 10-K for the year ended December 31, 2008.</FONT></P></TD></TR>
  <TR>
    <TD width="100%" colSpan=3>&nbsp;</TD></TR>
  <TR>
    <TD vAlign=top noWrap><FONT face=serif size=2>(2)</FONT></TD>
    <TD vAlign=top noWrap></TD>
    <TD align=left width="100%">
      <P align=justify><FONT face=serif size=2>The 2007 Stock Incentive Program
      provides for the grant of stock options, restricted stock, unrestricted
      stock, and restricted stock units. Therefore the shares available for
      future issuance are presented only in total for the
  program.</FONT></P></TD></TR>
  <TR>
    <TD width="100%" colSpan=3>&nbsp;</TD></TR>
  <TR>
    <TD vAlign=top noWrap><FONT face=serif size=2>(3)</FONT></TD>
    <TD vAlign=top noWrap></TD>
    <TD align=left width="100%">
      <P align=justify><FONT face=serif size=2>The Senior Executive Phantom
      Stock Plan provides for the granting of phantom stock units to individuals
      whose employment arrangements with the Company provide for such grants.
      Each phantom stock unit entitles the recipient to receive a share of
      Vishay common stock at the individual's termination of employment or any
      other future date specified in the employment agreement. Because these
      awards have no exercise price, there is no calculation of the weighted
      average exercise price.</FONT></P></TD></TR></TABLE>
<P align=center><FONT face=serif size=2>45 </FONT></P>
<HR align=center width="100%" noShade SIZE=2>
<PAGE>
<P align=center><B><FONT face=serif size=2>CERTAIN RELATIONSHIPS AND RELATED
TRANSACTIONS </FONT></B></P>
<P align=justify><FONT face=serif size=2>Vishay maintains employment agreements
with our Executive Chairman, Chief Executive Officer, and each of our other
executive officers. See &#147;Executive Compensation&#148; above. </FONT></P>
<P align=justify><FONT face=serif size=2>Yitzhak Shoshani is the brother of
director Ruta Zandman and the uncle of director and executive officer Ziv
Shoshani. Mr. Yitzhak Shoshani is Vice President and General Manager of, and
owns 33.3% of, Ecomal Israel, a non-exclusive distributor of our products mainly
in the Israeli market. Mr. Yitzhak Shoshani earned $341,055 in connection with
the performance of Ecomal Israel for 2008. </FONT></P>
<P align=justify><FONT face=serif size=2>Dubi Zandman is a cousin of Executive
Chairman Dr. Felix Zandman and a Vice President of the Vishay Measurements
Group. For 2008, Mr. Dubi Zandman received salary and bonus of $189,539.
</FONT><FONT face=serif size=2></FONT></P>
<P align=justify><FONT face=serif size=2>Steven C. Klausner is the son-in-law of
Dr. Felix Zandman and Ruta Zandman and the brother-in-law of Vice Chairman Marc
Zandman. Mr. Klausner is a Vice President and Treasurer of Vishay. For 2008, Mr.
Klausner received salary, bonus, and benefits totaling $174,059. </FONT></P>
<P align=justify><FONT face=serif size=2>Roy Shoshani is the brother of Ziv
Shoshani and the nephew of Ruta Zandman and Dr. Felix Zandman. Mr. Roy Shoshani
was employed in the research and development department of Vishay Israel Limited
for a portion of 2008. He is currently Senior Director Division at Siliconix.
For 2008, Mr. Roy Shoshani received salary and benefits totaling $382,785. His
benefits include $53,846 for a housing allowance and $73,265 for relocation
(which are customary for any Vishay employees on international
assignments).</FONT></P>
<P align=justify><FONT face=serif size=2>Eli Goddard is the son-in-law of Dr.
Felix Zandman and Ruta Zandman and the brother-in-law of Marc Zandman and has
performed legal services for Vishay Israel Limited. For 2008, Mr. Goddard
received a consulting fee of $59,037. </FONT></P>
<P align=justify><FONT face=serif size=2>Alon Shagir is the brother-in-law of
Marc Zandman. Mr. Shagir is employed by Vishay Israel Limited as a process
engineer. For 2008, Mr. Shagir received salary and benefits totaling $43,032.
</FONT></P>
<P align=justify><FONT face=serif size=2>Ron Shoshani is a nephew of Ruta
Zandman and Dr. Felix Zandman and a cousin of Ziv Shoshani.&nbsp;Since November
2006, Mr. Ron Shoshani&nbsp;has been&nbsp;employed as a sales engineer by Vishay
Israel Limited. For 2008, Mr. Ron Shoshani received salary and benefits totaling
approximately $74,169. </FONT></P>
<P align=justify><FONT face=serif size=2>Shay Shoshani is a nephew of Ruta
Zandman and Dr. Felix Zandman and a cousin of Ziv Shoshani. Since August 2008,
Mr. Shay Shoshani has been employed as a bookkeeper by Ecomal Israel. For 2008,
Mr. Shay Shoshani received salary and benefits totaling approximately $27,046.
</FONT></P>
<P align=justify><FONT face=serif size=2>Our Board has adopted a written Related
Party Transaction Policy that governs the review, approval, or ratification of
related party transactions. The Nominating and Corporate Governance Committee
has the responsibility to administer the policy. All related party transactions,
including employment relationships and charitable contributions, must be
approved or ratified by the Committee. Members of the Committee may not
participate in any review, consideration, or approval of any transaction
involving such member, any family member of such member, or any entity with
which such member is affiliated. A copy of the Related Party Transaction Policy
is available to stockholders on our website and in print upon request.
</FONT></P>
<P align=justify><FONT face=serif size=2>Our Related Party Transaction Policy
requires that all new employment relationships with a family member of a
director or executive officer be approved by the Committee. The Committee also
must undertake an annual review of on-going employment relationships of family
members of any director or executive officer.</FONT></P>
<P align=center><FONT face=serif size=2>46 </FONT></P>
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<PAGE>
<P align=center><B><FONT face=serif size=2>OTHER MATTERS </FONT></B></P>
<P align=justify><FONT face=serif size=2>This proxy statement includes all of
the business that the Board of Directors intends to present at the annual
meeting. The Board of Directors is not aware of any other matters proposed to be
presented at the meeting. If any other matter or matters are properly brought
before the annual meeting or any adjournment thereof, it is the intention of the
person named in the accompanying form of proxy to vote the proxy on such matters
in accordance with their judgment. </FONT></P>
<P align=center><B><FONT face=serif size=2>AVAILABILITY OF ANNUAL REPORT AND
FORM 10-K TO STOCKHOLDERS</FONT></B></P>
<P align=justify><FONT face=serif size=2>Our Annual Report to Stockholders for
the year ended December 31, 2008 accompanies this proxy statement. Vishay will
provide to any stockholder, upon written request and without charge, a copy of
our most recent Annual Report on Form 10-K, including the financial statements,
as filed with the Securities and Exchange Commission. All requests for such
reports should be directed to Investor Relations, Vishay Intertechnology, Inc.,
63 Lancaster Avenue, Malvern, PA 19355, telephone number (610) 644-1300.
</FONT></P>
<P align=center><B><FONT face=serif size=2>STOCKHOLDER PROPOSALS FOR 2010 ANNUAL
MEETING </FONT></B></P>
<P align=justify><FONT face=serif size=2>To be eligible for inclusion in our
proxy materials for the 2010 annual meeting, a stockholder proposal must be
received by our Corporate Secretary by the close of business on December 16,
2009. </FONT></P>
<TABLE cellSpacing=0 cellPadding=0 width="100%" border=0>

  <TR vAlign=bottom>
    <TD noWrap align=left width="50%"></TD>
    <TD noWrap align=left width="50%"><FONT face=serif size=2>By order of the
      Board of Directors,</FONT>&nbsp; </TD></TR>
  <TR>
    <TD noWrap align=left width="50%"></TD>
    <TD noWrap align=left width="50%"><IMG src="vishay_def14a4x11x1.jpg" border=0></TD></TR>
  <TR>
    <TD noWrap align=left width="50%"></TD>
    <TD noWrap align=left width="50%"><FONT size=2>William M.
  Clancy</FONT></TD></TR>
  <TR>
    <TD noWrap align=left width="50%"></TD>
    <TD noWrap align=left width="50%"><EM><FONT size=2>Corporate
      Secretary</FONT></EM></TD></TR></TABLE>
<P align=left><FONT face=serif size=2>April 9, 2009 </FONT></P>
<P align=center><FONT face=serif size=2>47 </FONT></P>
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<PAGE>
<P align=center><B><U><FONT face=serif size=2></FONT></U></B>&nbsp;</P>
<P align=center><B><U><FONT face=serif size=2></FONT></U></B>&nbsp;</P>
<P align=center><B><U><FONT face=serif size=2></FONT></U></B>&nbsp;</P>
<P align=center><B><U><FONT face=serif size=2></FONT></U></B>&nbsp;</P>
<P align=center><B><U><FONT face=serif size=2></FONT></U></B>&nbsp;</P>
<P align=center><B><U><FONT face=serif size=2></FONT></U></B>&nbsp;</P>
<P align=center><B><U><FONT face=serif size=2></FONT></U></B>&nbsp;</P>
<P align=center><B><U><FONT face=serif size=2>This page intentionally left
blank.</FONT></U></B></P>
<P align=center><STRONG><U><FONT size=2></FONT></U></STRONG>&nbsp;</P>
<P align=center><STRONG><U><FONT size=2></FONT></U></STRONG>&nbsp;</P>
<P align=center><STRONG><U><FONT size=2></FONT></U></STRONG>&nbsp;</P>
<P align=center><STRONG><U><FONT size=2></FONT></U></STRONG>&nbsp;</P>
<P align=center><STRONG><U><FONT size=2></FONT></U></STRONG>&nbsp;</P>
<P align=center><STRONG><U><FONT size=2></FONT></U></STRONG>&nbsp;</P>
<P align=center><STRONG><U><FONT size=2></FONT></U></STRONG>&nbsp;</P>
<P align=center>&nbsp;</P>
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<PAGE>
<P align=center><B><FONT face=serif size=2>PROXY FORM<BR></FONT></B><B><FONT face=serif size=2>VISHAY INTERTECHNOLOGY, INC.<BR>2009 Annual Meeting of
Stockholders</FONT></B></P>
<P align=justify><FONT face=serif size=2>The undersigned hereby appoints Dr.
Felix Zandman, Dr. Gerald Paul, and Dr. Lior Yahalomi, and each of them acting
individually, with full power of substitution, to vote all shares of common
stock and Class B common stock of Vishay Intertechnology, Inc. which the
undersigned is entitled to vote at the Annual Meeting of Stockholders of Vishay
Intertechnology, Inc. to be held at Vishay World Headquarters, 63 Lancaster
Avenue., Malvern, PA 19355, at 11:30 a.m., local time, on Tuesday, May 26, 2009,
and at any adjournment thereof, hereby ratifying all that said proxies or their
substitutes may do by virtue hereof, and the undersigned authorizes and
instructs said proxies to vote as follows:</FONT><FONT face=serif></FONT></P>
<P align=justify>
<TABLE cellSpacing=0 cellPadding=0 width="100%" align=center border=0>

  <TR>
    <TD vAlign=top noWrap>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>
    <TD vAlign=top noWrap><FONT face=serif size=2>(1)</FONT></TD>
    <TD vAlign=top noWrap>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>
    <TD align=left width="100%">
      <P align=justify><FONT face=serif size=2>To elect the following four
      persons to the Board of Directors of Vishay to serve for terms of three
      years and until their successors are
elected:</FONT></P></TD></TR></TABLE><BR>
<TABLE cellSpacing=0 cellPadding=0 width="100%" border=0>

  <TR vAlign=bottom>
    <TD noWrap align=left width="1%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>
    <TD vAlign=top noWrap align=left width="11%"><FONT face=serif size=2><U>Class III Directors</U></FONT></TD>
    <TD vAlign=top noWrap align=left width="1%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>
    <TD vAlign=top noWrap align=left width="5%">&nbsp;</TD>
    <TD vAlign=top noWrap align=left width="2%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>
    <TD vAlign=top noWrap align=left width="79%">&nbsp;</TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="1%"></TD>
    <TD vAlign=top noWrap align=left width="11%"><FONT face=serif size=2>Ziv
      Shoshani</FONT></TD>
    <TD vAlign=top noWrap align=left width="1%"></TD>
    <TD vAlign=top noWrap align=left width="5%">&nbsp;</TD>
    <TD vAlign=top noWrap align=left width="2%"></TD>
    <TD vAlign=top noWrap align=left width="79%">&nbsp;</TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="1%"></TD>
    <TD vAlign=top noWrap align=left width="11%"><FONT face=serif size=2>Thomas C. Wertheimer</FONT></TD>
    <TD vAlign=top noWrap align=left width="1%"></TD>
    <TD vAlign=top noWrap align=left width="5%">&nbsp;</TD>
    <TD vAlign=top noWrap align=left width="2%"></TD>
    <TD vAlign=top noWrap align=left width="79%">&nbsp;</TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="1%"></TD>
    <TD vAlign=top noWrap align=left width="11%"><FONT face=serif size=2>Marc
      Zandman</FONT></TD>
    <TD vAlign=top noWrap align=left width="1%"></TD>
    <TD vAlign=top noWrap align=left width="5%">&nbsp;</TD>
    <TD vAlign=top noWrap align=left width="2%"></TD>
    <TD vAlign=top noWrap align=left width="79%">&nbsp;</TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="1%"></TD>
    <TD vAlign=top noWrap align=left width="11%"><FONT face=serif size=2>Ruta
      Zandman</FONT></TD>
    <TD vAlign=top noWrap align=left width="1%"></TD>
    <TD vAlign=top noWrap align=left width="5%">&nbsp;</TD>
    <TD vAlign=top noWrap align=left width="2%"></TD>
    <TD vAlign=top noWrap align=left width="79%">&nbsp;</TD></TR>
  <TR>
    <TD width="1%">&nbsp;</TD>
    <TD vAlign=top width="98%" colSpan=5>&nbsp;</TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="1%"></TD>
    <TD vAlign=top noWrap align=left width="11%"><FONT face=serif size=2>FOR
      ALL</FONT></TD>
    <TD vAlign=top noWrap align=left width="1%"></TD>
    <TD vAlign=top noWrap align=center width="5%"><FONT face=sans-serif size=2><FONT face=wingdings size=2>o</FONT></FONT></TD>
    <TD vAlign=top noWrap align=left width="2%"></TD>
    <TD vAlign=top noWrap align=left width="79%">&nbsp;</TD></TR>
  <TR>
    <TD width="1%"></TD>
    <TD vAlign=top width="98%" colSpan=5>&nbsp;</TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="1%"></TD>
    <TD vAlign=top noWrap align=left width="11%"><FONT face=serif size=2>WITHHOLD ALL</FONT></TD>
    <TD vAlign=top noWrap align=left width="1%">&nbsp;</TD>
    <TD vAlign=top noWrap align=center width="5%"><FONT face=Wingdings size=2>o</FONT></TD>
    <TD vAlign=top noWrap align=left width="2%">&nbsp;</TD>
    <TD vAlign=top noWrap align=left width="79%">&nbsp;</TD></TR>
  <TR>
    <TD width="1%"></TD>
    <TD vAlign=top width="98%" colSpan=5>&nbsp;</TD></TR>
  <TR>
    <TD width="1%"></TD>
    <TD vAlign=top width="98%" colSpan=5>&nbsp;</TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="1%"></TD>
    <TD vAlign=top noWrap align=left width="11%"><FONT face=serif size=2>EXCEPTIONS</FONT></TD>
    <TD vAlign=top noWrap align=left width="1%"></TD>
    <TD vAlign=top noWrap align=center width="5%"><FONT face=Wingdings size=2>o</FONT></TD>
    <TD vAlign=top noWrap align=left width="2%"></TD>
    <TD vAlign=top align=left width="79%"><FONT face=serif size=2>(To withhold
      authority to vote for any individual nominee(s), mark the &#147;Exceptions&#148; box
      and line through or otherwise strike out the name of such nominee(s)
      listed above.)</FONT></TD></TR></TABLE>
<P>
<TABLE cellSpacing=0 cellPadding=0 width="100%" align=center border=0>

  <TR>
    <TD vAlign=top noWrap>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>
    <TD vAlign=top noWrap><FONT face=serif size=2>(2)</FONT></TD>
    <TD vAlign=top noWrap>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>
    <TD align=left width="100%">
      <P align=justify><FONT face=serif size=2>To ratify the appointment of
      Ernst &amp; Young LLP as Vishay&#146;s independent registered public accounting
      firm for the year ending December 31,
2009.</FONT></P></TD></TR></TABLE><BR>
<TABLE cellSpacing=0 cellPadding=0 width="20%" border=0>

  <TR vAlign=bottom>
    <TD noWrap align=left width="11%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>
    <TD noWrap align=left width="12%"><FONT face=serif size=2>FOR</FONT> <FONT face=Wingdings size=2>o</FONT>&nbsp;</TD>
    <TD noWrap align=left width="12%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>
    <TD noWrap align=left width="23%"><FONT face=serif size=2>AGAINST</FONT>
      <FONT face=Wingdings size=2>o</FONT>&nbsp;</TD>
    <TD noWrap align=left width="23%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>
    <TD noWrap align=left width="18%"><FONT face=serif size=2>ABSTAIN</FONT>
      <FONT face=Wingdings size=2>o</FONT>&nbsp;</TD></TR></TABLE><BR>
<P align=justify><B><FONT face=serif size=2>The Board of Directors Recommends a
vote &#147;FOR ALL&#148; nominees listed in Proposal One, and &#147;FOR&#148; Proposal Two. If any
other business is properly presented at the annual meeting, this proxy shall be
voted in accordance with the judgment of the proxy holders. This proxy is
solicited on behalf of the Board of Directors and may be revoked prior to its
use.</FONT></B><FONT face=serif></FONT></P>
<TABLE cellSpacing=0 cellPadding=0 width="100%" border=0>

  <TR vAlign=bottom>
    <TD noWrap align=right width="100%"><I><FONT face=serif size=2>(Continued
      and to be dated and signed on the other
  side.)</FONT></I>&nbsp;</TD></TR></TABLE><BR>
<HR align=center width="100%" noShade SIZE=2>
<PAGE>
<P align=justify><B><FONT face=serif size=2>This proxy when properly executed
will be voted in the manner directed herein by the undersigned stockholder(s).
If no direction is made, this proxy will be voted &#147;FOR ALL&#148; nominees listed in
Proposal One and &#147;FOR&#148; Proposal Two.</FONT></B><FONT face=serif></FONT></P>
<P align=justify><B><FONT face=serif size=2>PLEASE DATE, SIGN AND RETURN THIS
PROXY PROMPTLY USING THE ENCLOSED ENVELOPE.</FONT></B></P>
<P align=justify><FONT face=serif size=2>Receipt of the notice of annual meeting
and of the proxy statement and annual report of Vishay accompanying the same is
hereby acknowledged.</FONT> <FONT face=serif></FONT></P>
<TABLE cellSpacing=0 cellPadding=0 width="100%" border=0>

  <TR vAlign=bottom>
    <TD noWrap align=left width="50%"></TD>
    <TD noWrap align=left width="50%" colSpan=2><FONT face=serif size=2>Dated:
      __________________, 2009</FONT>&nbsp;</TD></TR>
  <TR>
    <TD width="50%"></TD>
    <TD width="50%" colSpan=2>&nbsp;</TD></TR>
  <TR>
    <TD width="50%"></TD>
    <TD width="50%" colSpan=2>&nbsp;</TD></TR>
  <TR>
    <TD width="50%"></TD>
    <TD width="50%" colSpan=2>&nbsp;</TD></TR>
  <TR>
    <TD width="50%"></TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" width="25%">&nbsp;&nbsp;</TD>
    <TD width="25%">&nbsp;</TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="50%"></TD>
    <TD noWrap align=left width="50%" colSpan=2><FONT face=serif size=2>(Signature of Stockholder(s))</FONT>&nbsp;</TD></TR>
  <TR>
    <TD noWrap align=left width="50%"></TD>
    <TD noWrap align=left width="50%" colSpan=2>&nbsp;</TD></TR>
  <TR>
    <TD noWrap align=left width="50%"></TD>
    <TD noWrap align=left width="50%" colSpan=2>&nbsp;</TD></TR>
  <TR>
    <TD noWrap align=left width="50%"></TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="25%"></TD>
    <TD noWrap align=left width="25%">&nbsp;</TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="50%"></TD>
    <TD noWrap align=left width="50%" colSpan=2><FONT face=serif size=2>(PRINT
      NAME(S))</FONT>&nbsp;</TD></TR>
  <TR>
    <TD width="50%"></TD>
    <TD width="50%" colSpan=2>&nbsp;</TD></TR>
  <TR>
    <TD width="50%"></TD>
    <TD width="50%" colSpan=2>&nbsp;</TD></TR>
  <TR>
    <TD width="50%"></TD>
    <TD width="50%" colSpan=2>&nbsp;</TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="50%"></TD>
    <TD align=left width="50%" colSpan=2><FONT face=serif size=2>Your
      signature should appear the same as your name appears herein. If signing
      as attorney, executor, administrator, trustee or guardian, please indicate
      the capacity in which signing. When signing as joint tenants, all parties
      to the joint tenancy must sign. When the proxy is given by a corporation,
      it should be signed by an authorized
officer.</FONT></TD></TR></TABLE><BR>
<P align=justify><FONT face=serif size=2>If you plan to attend the annual
meeting, please check this box:</FONT> <FONT face=sans-serif size=2><FONT face=wingdings>o</FONT></FONT></P>
<P align=center><B><FONT face=serif size=2>Important Notice Regarding the
Availability of Proxy Materials for the<BR>Annual Meeting of Stockholders to be
Held May 26, 2009.</FONT></B> <FONT face=serif></FONT></P>
<P align=center>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B><FONT face=serif size=2>The
following materials, also included with this Notice, are available for view
on<BR>the Internet:</FONT></B></P>
<P align=center><B><FONT face=serif size=2>Proxy Statement for the 2009 Annual
Meeting of Stockholders</FONT></B></P>
<P align=center><B><FONT face=serif size=2>2008 Annual Report to
Stockholders</FONT></B></P>
<P align=left><B><FONT face=serif size=2>To view these materials, visit
ir.vishay.com.</FONT></B></P>
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end
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
-----END PRIVACY-ENHANCED MESSAGE-----
