<SEC-DOCUMENT>0001178913-23-002588.txt : 20230727
<SEC-HEADER>0001178913-23-002588.hdr.sgml : 20230727
<ACCEPTANCE-DATETIME>20230727160513
ACCESSION NUMBER:		0001178913-23-002588
CONFORMED SUBMISSION TYPE:	6-K
PUBLIC DOCUMENT COUNT:		3
CONFORMED PERIOD OF REPORT:	20230727
FILED AS OF DATE:		20230727
DATE AS OF CHANGE:		20230727

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			CERAGON NETWORKS LTD
		CENTRAL INDEX KEY:			0001119769
		STANDARD INDUSTRIAL CLASSIFICATION:	RADIO & TV BROADCASTING & COMMUNICATIONS EQUIPMENT [3663]
		IRS NUMBER:				000000000
		STATE OF INCORPORATION:			L3
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		6-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	000-30862
		FILM NUMBER:		231118382

	BUSINESS ADDRESS:	
		STREET 1:		3 URI ARIAV ST.
		STREET 2:		PO BOX 112
		CITY:			ROSH HA AYIN
		STATE:			L3
		ZIP:			4810004810
		BUSINESS PHONE:		972-3-543-1000

	MAIL ADDRESS:	
		STREET 1:		3 URI ARIAV ST.
		STREET 2:		PO BOX 112
		CITY:			ROSH HA AYIN
		STATE:			L3
		ZIP:			4810004810

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	GIGANET LTD
		DATE OF NAME CHANGE:	20000719
</SEC-HEADER>
<DOCUMENT>
<TYPE>6-K
<SEQUENCE>1
<FILENAME>zk2330038.htm
<DESCRIPTION>6-K
<TEXT>
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      <div style="text-align: center; line-height: 1.25; font-weight: bold;">UNITED STATES</div>
    </div>
    <div style="text-align: center; line-height: 1.25; font-weight: bold;"><font style="font-size: 14pt;">SECURITIES AND EXCHANGE COMMISSION</font><br>
      Washington, D. C. 20549</div>
    <div style="line-height: 1.25">&#160;</div>
    <div style="text-align: center; line-height: 1.25; font-family: 'Times New Roman',Times,serif; font-size: 14pt; font-weight: bold;">FORM 6-K</div>
    <div style="line-height: 1.25">&#160;</div>
    <div style="text-align: center; margin-left: 4.5pt; line-height: 1.25; color: #231F20; font-size: 12pt; font-weight: bold;">REPORT OF&#160; FOREIGN&#160; PRIVATE&#160; ISSUER&#160; PURSUANT&#160; TO RULE 13a-16&#160; OR</div>
    <div style="text-align: center; margin-left: 4.5pt; line-height: 1.25; color: #231F20; font-size: 12pt; font-weight: bold;"> 15d-16&#160; UNDER THE&#160; SECURITIES&#160; EXCHANGE&#160; ACT&#160; OF&#160; 1934</div>
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    <div style="text-align: center; line-height: 1.25; font-family: 'Times New Roman',Times,serif; font-weight: bold;">For the month of July 2023</div>
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    <div style="text-align: center; line-height: 1.25; color: rgb(35, 31, 32); font-family: 'Times New Roman',Times,serif; font-weight: bold;">Commission File Number: 0-30862</div>
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            <div style="text-align: center; line-height: 1.25; font-family: 'Times New Roman',Times,serif; font-size: 16pt; font-weight: bold;">CERAGON NETWORKS LTD.</div>
            <hr align="center" style="height: 1px; width: 20%; color: #000000; background-color: #000000; text-align: center; margin-left: auto; margin-right: auto; border: none;">
            <div style="text-align: center; line-height: 1.25; font-weight: bold;">(Translation of registrant&#8217;s name into English)</div>
            <div style="text-align: center; line-height: 1.25; font-weight: bold;"> <br>
            </div>
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        </tr>
        <tr>
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            <div style="text-align: center; line-height: 1.25; font-size: 12pt; font-weight: bold;"><font style="font-size: 10pt;">3 Uri Ariav st., Bldg A, 7</font><sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">th</sup><font style="font-size: 10pt;"> floor, Rosh Ha&#8217;ayin, Israel</font></div>
            <hr align="center" style="height: 1px; width: 20%; color: #000000; background-color: #000000; text-align: center; margin-left: auto; margin-right: auto; border: none;">
            <div style="text-align: center; line-height: 1.25; font-weight: bold;">(Address of principal executive offices)</div>
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    <div style="line-height: 1.25;">Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F.</div>
    <div style="line-height: 1.25;"> <br>
    </div>
    <div style="text-align: center; line-height: 1.25; font-family: 'Times New Roman',Times,serif;">Form 20-F &#9746;&#160;&#160;&#160; Form 40-F &#9744; </div>
    <div style="line-height: 1.25;"> <br>
    </div>
    <div style="line-height: 1.25; color: #231F20;">Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(1): _____</div>
    <div style="line-height: 1.25">&#160;</div>
    <div style="line-height: 1.25; color: #231F20;">Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(7):_____</div>
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    <div style="text-align: center; margin-right: 7.5pt; line-height: 1.25; color: #231F20; font-weight: bold;">SIGNATURES</div>
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    <div style="text-indent: 18pt; margin-right: 2.55pt; margin-left: 7.3pt; line-height: 1.25; color: #231F20;">Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by
      the undersigned, thereunto duly authorized.</div>
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            <td valign="top" colspan="2">CERAGON NETWORKS LTD.</td>
            <td valign="top" style="width: 12%;">&#160;</td>
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            <td valign="top" style="width: 50%;">&#160;</td>
            <td valign="top" style="width: 4%;">&#160;</td>
            <td valign="top" style="width: 34%;">&#160;</td>
            <td valign="top" style="width: 12%;">&#160;</td>
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            <td valign="top" align="left" style="width: 50%; padding-bottom: 2px;">
              <div align="left" style="margin-left: 0pt; text-indent: 0pt; margin-right: 0pt">Date: July 27, 2023</div>
            </td>
            <td valign="top" style="width: 4%; padding-bottom: 2px;">
              <div align="left" style="margin-left: 0pt; text-indent: 0pt; margin-right: 0pt">By: </div>
            </td>
            <td valign="top" nowrap="nowrap" align="left" style="width: 34%; border-bottom: 2px solid rgb(0, 0, 0);">/s/ Ronen Stein</td>
            <td valign="top" style="width: 12%; padding-bottom: 2px;">&#160;</td>
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          <tr>
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            <td valign="top" style="width: 4%;">Name:<br>
            </td>
            <td valign="bottom" nowrap="nowrap" align="left" style="width: 34%;">Ronen Stein</td>
            <td valign="top" style="width: 12%;">&#160;</td>
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            <td valign="top" style="width: 4%;">Title:<br>
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            <td valign="top" style="width: 34%;">Chief Financial Officer</td>
            <td valign="top" style="width: 12%;">&#160;</td>
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            <td style="width: 10%;"><u>Exhibit</u></td>
            <td style="width: 90%;"><u>Description</u></td>
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              <div>&#160;</div>
            </td>
            <td style="width: 90%;">
              <div>&#160;</div>
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            <td style="width: 10%;"><a href="exhibit_a.htm">Exhibit A &#8211;</a></td>
            <td style="width: 90%; font-weight: bold;"><a href="exhibit_a.htm">NOTICE OF 2023 ANNUAL GENERAL MEETING OF SHAREHOLDERS</a></td>
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            <td style="width: 10%;" rowspan="1">&#160;</td>
            <td style="width: 90%;" rowspan="1">&#160;</td>
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              <div style="text-align: left; line-height: 1.25;"><a href="exhibit_b.htm">Exhibit B &#8211;</a></div>
            </td>
            <td style="width: 90%;" rowspan="1">
              <div style="text-align: left; line-height: 1.25; font-weight: bold;"><a href="exhibit_b.htm">PROXY
                  CARD FOR THE 2023 ANNUAL GENERAL MEETING OF SHAREHOLDERS</a></div>
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<DOCUMENT>
<TYPE>EX-99
<SEQUENCE>2
<FILENAME>exhibit_a.htm
<DESCRIPTION>EXHIBIT A
<TEXT>
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      <div>
        <div style="text-align: right; line-height: 1.25; font-family: 'Times New Roman',Times,serif; color: rgb(0, 0, 0);"><u> <font style="font-weight: bold;">Exhibit A</font><br>
          </u></div>
        <font style="color: rgb(0, 0, 0);"><u> <br>
          </u></font>
        <div style="text-align: center; line-height: 1.25; color: rgb(0, 0, 0);"><u>CERAGON NETWORKS LTD.</u></div>
        <div style="text-align: center; line-height: 1.25; color: rgb(0, 0, 0);"><u> <br>
          </u></div>
        <div style="text-align: center; line-height: 1.25; font-weight: bold; color: rgb(0, 0, 0);">___________________________________________</div>
        <div style="line-height: 1.25; color: rgb(0, 0, 0);">&#160;</div>
        <div style="text-align: center; line-height: 1.25; font-weight: bold; color: rgb(0, 0, 0);">NOTICE OF 2023 ANNUAL GENERAL MEETING OF SHAREHOLDERS</div>
        <div style="line-height: 1.25; color: rgb(0, 0, 0);">&#160;</div>
        <div style="text-align: center; line-height: 1.25; font-weight: bold; color: rgb(0, 0, 0);">___________________________________________</div>
        <div style="line-height: 1.25; color: rgb(0, 0, 0);">&#160;</div>
        <div style="text-align: center; line-height: 1.25; font-weight: bold; color: rgb(0, 0, 0);">TO BE HELD ON SEPTEMBER 6, 2023</div>
        <div style="line-height: 1.25; color: rgb(0, 0, 0);">&#160;</div>
        <div style="line-height: 1.25;">
          <div style="text-align: justify; line-height: 1.25; font-family: 'Times New Roman',Times,serif; color: rgb(0, 0, 0);">Dear Shareholder,</div>
        </div>
        <div style="line-height: 1.25; text-align: justify; color: rgb(0, 0, 0);">&#160;</div>
        <div style="text-align: justify; line-height: 1.25; color: rgb(0, 0, 0);">Notice is hereby given that the 2023 Annual General Meeting of Shareholders (the &#8220;<font style="font-family: 'Times New Roman',Times,serif; font-weight: bold;">Meeting</font>&#8221;)


          of Ceragon Networks Ltd. (the &#8220;<font style="font-family: 'Times New Roman',Times,serif; font-weight: bold;">Company</font>&#8221;) will be held on Wednesday, September 6, 2023 at 4:00 PM (Israel time), at the offices of the Company located at 3 Uri
          Ariav St., Bldg. A, 7<sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">th</sup> floor, Rosh Ha&#8217;ayin, Israel (Telephone number: + 972-3-543-1596). The following matters are on the agenda for the Meeting (collectively, the &#8220;<font style="font-family: 'Times New Roman',Times,serif; font-weight: bold;">Proposals</font>&#8221;):</div>
        <div style="text-align: justify; line-height: 1.25;"><font style="color: rgb(0, 0, 0);"><br style="line-height: 1.25;">
          </font> </div>
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              <td style="width: 6.5pt;"><font style="color: rgb(0, 0, 0);"><br>
                </font> </td>
              <td style="width: 20.15pt; vertical-align: top; font-family: 'Times New Roman',Times,serif; text-align: justify; color: rgb(0, 0, 0);">1.</td>
              <td style="width: auto; vertical-align: top; text-align: justify;">
                <div style="font-family: 'Times New Roman',Times,serif; color: rgb(0, 0, 0);">To elect Ms. Yael Shaham to serve on the Board of Directors of the Company (the &#8220;<font style="font-weight: bold;">Board</font>&#8221;) for a term of approximately one
                  (1) year ending on the date of the next annual general meeting that will be held in 2024;</div>
              </td>
            </tr>

        </table>
        <div style="line-height: 1.25;"><font style="color: rgb(0, 0, 0);"><br style="line-height: 1.25;">
          </font> </div>
        <table cellspacing="0" cellpadding="0" class="DSPFListTable" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

            <tr>
              <td style="width: 6.5pt;"><font style="color: rgb(0, 0, 0);"><br>
                </font> </td>
              <td style="width: 20.15pt; vertical-align: top; font-family: 'Times New Roman',Times,serif; text-align: justify; color: rgb(0, 0, 0);">2.</td>
              <td style="width: auto; vertical-align: top; text-align: justify;">
                <div style="font-family: 'Times New Roman',Times,serif; color: rgb(0, 0, 0);">To approve a grant of options to each of the Company&#8217;s non-executive directors, as part of their compensation for service as such;</div>
              </td>
            </tr>

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        <div style="line-height: 1.25;"><font style="color: rgb(0, 0, 0);"><br style="line-height: 1.25;">
          </font> </div>
        <table cellspacing="0" cellpadding="0" class="DSPFListTable" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

            <tr>
              <td style="width: 6.5pt;"><font style="color: rgb(0, 0, 0);"><br>
                </font> </td>
              <td style="width: 20.15pt; vertical-align: top; font-family: 'Times New Roman',Times,serif; text-align: justify; color: rgb(0, 0, 0);">3.</td>
              <td style="width: auto; vertical-align: top; text-align: justify;">
                <div style="font-family: 'Times New Roman',Times,serif; color: rgb(0, 0, 0);">To approve the renewal of the Company's Executives &amp; Directors Compensation Policy and an amendment thereof;</div>
              </td>
            </tr>

        </table>
        <div style="line-height: 1.25;"><font style="color: rgb(0, 0, 0);"><br style="line-height: 1.25;">
          </font> </div>
        <table cellspacing="0" cellpadding="0" class="DSPFListTable" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

            <tr>
              <td style="width: 6.5pt;"><font style="color: rgb(0, 0, 0);"><br>
                </font> </td>
              <td style="width: 20.15pt; vertical-align: top; font-family: 'Times New Roman',Times,serif; text-align: justify; color: rgb(0, 0, 0);">4.</td>
              <td style="width: auto; vertical-align: top; text-align: justify;">
                <div style="font-family: 'Times New Roman',Times,serif; color: rgb(0, 0, 0);">To approve certain compensation terms for the Company&#8217;s Chief Executive Officer: an annual cash bonus plan and an equity grant for 2023; and</div>
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        <div style="line-height: 1.25;"><font style="color: rgb(0, 0, 0);"><br style="line-height: 1.25;">
          </font> </div>
        <table cellspacing="0" cellpadding="0" class="DSPFListTable" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

            <tr>
              <td style="width: 6.5pt;"><font style="color: rgb(0, 0, 0);"><br>
                </font> </td>
              <td style="width: 20.15pt; vertical-align: top; font-family: 'Times New Roman',Times,serif; text-align: justify; color: rgb(0, 0, 0);">5.</td>
              <td style="width: auto; vertical-align: top; text-align: justify;">
                <div style="font-family: 'Times New Roman',Times,serif; color: rgb(0, 0, 0);">To re-appoint Kost Forer Gabbay &amp; Kasierer, a Member of Ernst &amp; Young Global, as the Company&#8217;s independent auditor for the fiscal year ending December 31,
                  2023 and for the year commencing January 1, 2024 and until immediately following the next annual general meeting of shareholders, and to authorize the Board (with power of delegation to its Financial Audit Committee), to set the annual
                  compensation of the independent auditor in accordance with the volume and nature of its services.</div>
              </td>
            </tr>

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        <div style="line-height: 1.25; text-align: justify; color: rgb(0, 0, 0);">&#160;</div>
        <div style="text-align: justify; line-height: 1.25; font-weight: bold; color: rgb(0, 0, 0);">Our Board unanimously recommends that you vote &#8220;FOR&#8221; each of the Proposals.</div>
        <div style="line-height: 1.25; text-align: justify; color: rgb(0, 0, 0);">&#160;</div>
        <div style="text-align: justify; line-height: 1.25; color: rgb(0, 0, 0);">Additionally, at the Meeting, shareholders will be provided with the opportunity to receive and consider the auditor&#8217;s report and the audited consolidated financial
          statements of the Company for the fiscal year ended December 31, 2022. This item will not involve a vote of the shareholders.</div>
        <div style="line-height: 1.25; text-align: justify; color: rgb(0, 0, 0);">&#160;</div>
        <div style="text-align: justify; line-height: 1.25; color: rgb(0, 0, 0);">Only shareholders of record at the close of business on Tuesday, August 1, 2023, the record date for determining those shareholders eligible to vote at the Meeting, are
          entitled to receive notice of, and to vote at, the Meeting (including any postponements or adjournments thereof).</div>
        <div style="line-height: 1.25; text-align: justify; color: rgb(0, 0, 0);">&#160;</div>
        <div style="text-align: justify; line-height: 1.25; color: rgb(0, 0, 0);">Proposals 1, 2 and 5 require the affirmative vote of the holders of a majority of the ordinary shares represented at the Meeting, in person or by proxy, and voting on the
          matter.</div>
        <div style="line-height: 1.25; color: rgb(0, 0, 0);">&#160;</div>
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        <div style="text-align: justify; line-height: 1.25;"><font style="color: rgb(0, 0, 0);">Proposals 3 and 4 require the affirmative vote of the holders of a majority of the Ordinary Shares represented and voting at the Meeting in person or by proxy
            and voting on the applicable matter; provided that, the majority of the shares voted in favor of the said proposal are not held by &#8220;controlling shareholders&#8221; or shareholders with &#8220;personal interest&#8221; in the approval of such proposal, not taking
            into account any abstention, or that the total number of shares referred to above that voted against this proposal, does not exceed two percent of the aggregate voting rights in the Company (&#8220;<font style="font-weight: bold;">Disinterested
              Majority</font>&#8221;), as described in more detail under Proposal 3 and Proposal 4.</font></div>
        <div style="line-height: 1.25; color: rgb(0, 0, 0);">&#160;</div>
        <div style="text-align: justify; line-height: 1.25;"><font style="color: rgb(0, 0, 0);">Whether or not you plan to attend the Meeting, you are urged to promptly complete, date and sign the enclosed proxy card and to mail it in the enclosed
            envelope, which requires no postage if mailed in the United States, at your earliest convenience and in any event no later than 4:00 PM (Israel time) on Tuesday, September 5, 2023. Execution of your proxy will not deprive you of your right to
            attend the Meeting and vote in person, and you will have the right to revoke your proxy any time before it is exercised by following the procedures set forth in the Proxy Statement enclosed herein.</font></div>
        <div style="line-height: 1.25; color: rgb(0, 0, 0);">&#160;</div>
        <div style="text-align: justify; line-height: 1.25; color: rgb(0, 0, 0);">If you hold ordinary shares of the Company through a bank, broker or other nominee (i.e., in &#8220;street name&#8221;) which is one of our shareholders of record at the close of market
          on Tuesday, August 1, 2023, or which appears in the participant listing of a securities depository on that date, you must follow the instructions included in the voting instruction form you receive from your bank, broker or nominee, and may also
          be able to submit voting instructions to your bank, broker or nominee by phone or via the Internet. Please be certain to have your control number from your voting instruction form ready for use in providing your voting instructions. If you hold
          your ordinary shares of the Company in &#8220;street name,&#8221; you must obtain a legal proxy from the record holder to enable you to participate in and to vote your ordinary shares of the Company at the Meeting (or to appoint a proxy to do so).</div>
        <div style="line-height: 1.25; color: rgb(0, 0, 0);">&#160;</div>
        <div style="text-align: justify; line-height: 1.25; color: rgb(0, 0, 0);">We intend to hold the Meeting in person and all shareholders are cordially invited to attend the Meeting in person. However, we may decide to hold the Meeting virtually on
          the above date and time instead of in person, in which case an announcement of such change will be furnished with the Securities and Exchange Commission (&#8220;<font style="font-weight: bold;">SEC</font>&#8221;) on a Report on Form 6-K as promptly as
          practicable.</div>
        <div style="line-height: 1.25; color: rgb(0, 0, 0);">&#160;</div>
        <div style="text-align: justify; line-height: 1.25; color: rgb(0, 0, 0);">Joint holders of shares should note that, pursuant to Article 69(b) of the Articles of Association of the Company (the &#8220;<font style="font-weight: bold;">Articles</font>&#8221;), a
          notice may be given by the Company to the joint holders of a share by giving notice to the first of the joint holders named in the Register of Shareholders with respect to the shares, and any notice so given shall be sufficient notice to the
          other joint holders of such share(s).</div>
        <div style="line-height: 1.25; color: rgb(0, 0, 0);">&#160;</div>
        <div style="text-align: justify; line-height: 1.25; color: rgb(0, 0, 0);">Joint holders of shares should also note that, pursuant to Article 32(d) of the Articles, the vote of the first of the joint holders named in the Register of Shareholders
          with respect to the share(s) will be accepted to the exclusion of the vote(s) of the other joint holder(s).</div>
        <div style="line-height: 1.25; color: rgb(0, 0, 0);">&#160;</div>
        <div style="text-align: justify; line-height: 1.25; color: rgb(0, 0, 0);">Two or more shareholders, present in person or by proxy, entitled to vote and holding together ordinary shares conferring in the aggregate twenty-five percent (25%) or more
          of the voting power of the Company, shall constitute a quorum at the Meeting. If within an hour from the time appointed for the Meeting a quorum is not present, the Meeting will be rescheduled for the following week and accordingly, will stand
          adjourned until Wednesday, September 13, 2023, at the same time and place. At such adjourned Meeting, any two (2) shareholders present in person or by proxy, shall constitute a quorum.</div>
        <div style="line-height: 1.25; color: rgb(0, 0, 0);">&#160;</div>
        <div style="text-align: justify; line-height: 1.25; color: rgb(0, 0, 0);">Shareholders may express their position on the proposals to be voted on at the Meeting by submitting a written statement, through the Company, to the other shareholders (a &#8220;<font style="font-weight: bold;">Position Statement</font>&#8221;). Position Statements must be submitted to the Company at its registered offices at 3 Uri Ariav st., PO Box 112, Rosh Ha&#8217;Ayin, Israel, 4810002, Attention: General Counsel, no later than
          Sunday, August 27, 2023. Any Position Statement received will be furnished to the SEC on Form&#160;6-K&#160;and will be made available to the public on the SEC&#8217;s website at&#160;www.sec.gov.</div>
        <div style="line-height: 1.25; color: rgb(0, 0, 0);">&#160;</div>
        <div style="text-align: justify; line-height: 1.25;"><font style="color: rgb(0, 0, 0);">The last date for submitting a request to include a proposal in accordance with Section 66(b) of the Israeli Companies Law, 5759-1999, is Thursday, August 3,
            2023. A copy of the proxy statement (which includes the full version of the proposed resolutions) and a proxy card is being distributed to shareholders and also furnished to the SEC, under cover of Form 6-K. Shareholders are also able to review
            the proxy statement at the &#8220;Investor Relations&#8221; portion of our website www.ceragon.com/investors or at our headquarters at 3 Uri Ariav st., PO Box 112, Rosh Ha&#8217;Ayin, Israel, 4810002, upon prior notice and during regular working hours (telephone
            number: +972- 3-543-1596) until the date of the Meeting.</font></div>
        <div style="line-height: 1.25; color: rgb(0, 0, 0);">&#160;</div>
        <div style="text-align: justify; line-height: 1.25; font-weight: bold;"><font style="color: rgb(0, 0, 0);">Whether or not you plan to attend the Meeting, it is important that your ordinary shares of the Company be represented and voted at the
            Meeting. Accordingly, after reading the Notice of Meeting of Shareholders and the Proxy Statement, please sign, date and mail the proxy card in the envelope provided. Detailed proxy voting instructions will be provided both in the proxy
            statement and in the proxy card.</font></div>
        <div style="line-height: 1.25; color: rgb(0, 0, 0);">&#160;</div>
        <div style="text-align: justify; line-height: 1.25; color: rgb(0, 0, 0);">We urge all of our shareholders to review our annual report for 2022 on Form 20-F filed with the SEC, which is available on our website at www.ceragon.com/investors or on the
          SEC&#8217;s website at www.sec.gov.</div>
        <div style="line-height: 1.25; color: rgb(0, 0, 0);">&#160;</div>
        <div style="line-height: 1.25; color: rgb(0, 0, 0);">We look forward to greeting as many of you as can attend the Meeting.</div>
        <div style="line-height: 1.25; color: rgb(0, 0, 0);">&#160;</div>
        <div style="text-align: center; line-height: 1.25; font-family: 'Times New Roman',Times,serif; color: rgb(0, 0, 0);">By Order of the Board of Directors,</div>
        <div style="line-height: 1.25; color: rgb(0, 0, 0);">&#160;</div>
        <div style="text-align: center; line-height: 1.25; font-family: 'Times New Roman',Times,serif; color: rgb(0, 0, 0);">Sincerely</div>
        <div style="text-align: center; line-height: 1.25; font-family: 'Times New Roman',Times,serif; color: rgb(0, 0, 0);">&#160;/s/&#160; Ilan Rosen</div>
        <div style="text-align: center; line-height: 1.25; font-family: 'Times New Roman',Times,serif; color: rgb(0, 0, 0);">Ilan Rosen, Chairman of the Board of Directors</div>
        <div style="line-height: 1.25; color: rgb(0, 0, 0);">&#160;</div>
        <div style="text-align: center; line-height: 1.25; font-family: 'Times New Roman',Times,serif; color: rgb(0, 0, 0);">July 27, 2023</div>
        <div style="line-height: 1.25; color: rgb(0, 0, 0);">&#160;</div>
        <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" class="BRPFPageBreakArea">
          <div style="text-align: center;" class="BRPFPageNumberArea"><font style="color: #000000; font-weight: normal; font-style: normal;" class="BRPFPageNumber">ii</font></div>
          <div style="page-break-after: always;" class="BRPFPageBreak">
            <hr noshade="noshade" style="border-width: 0px; clear: both; margin: 4px 0px; width: 100%; height: 2px; color: #000000; background-color: #000000;"></div>
        </div>
        <div style="line-height: 1.25; color: rgb(0, 0, 0);">&#160;</div>
        <div style="text-align: center; line-height: 1.25; font-weight: bold; color: rgb(0, 0, 0);">CERAGON NETWORKS LTD.</div>
        <div style="line-height: 1.25; color: rgb(0, 0, 0);">&#160;</div>
        <div style="text-align: center; line-height: 1.25; color: rgb(0, 0, 0);">3 Uri Ariav St., Bldg. A, 7<sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">th</sup> floor, Rosh Ha&#8217;ayin, Israel</div>
        <div style="text-align: center; line-height: 1.25; font-family: 'Times New Roman',Times,serif; color: rgb(0, 0, 0);">_______________________</div>
        <div style="line-height: 1.25; color: rgb(0, 0, 0);">&#160;</div>
        <div style="text-align: center; line-height: 1.25; font-weight: bold; color: rgb(0, 0, 0);">PROXY STATEMENT</div>
        <div style="text-align: center; line-height: 1.25; color: rgb(0, 0, 0);">_______________________</div>
        <div style="line-height: 1.25; color: rgb(0, 0, 0);">&#160;</div>
        <div style="text-align: center; line-height: 1.25; font-weight: bold; color: rgb(0, 0, 0);">2023 ANNUAL GENERAL MEETING OF SHAREHOLDERS</div>
        <div style="line-height: 1.25; color: rgb(0, 0, 0);">&#160;</div>
        <div style="line-height: 1.25;">
          <div style="text-align: center; line-height: 1.25; font-weight: bold; color: rgb(0, 0, 0);">To Be Held on September 6, 2023</div>
        </div>
        <div style="line-height: 1.25; color: rgb(0, 0, 0);">&#160;</div>
        <div style="text-align: justify; line-height: 1.25; color: rgb(0, 0, 0);">This Proxy Statement is furnished to the holders of Ordinary Shares, NIS 0.01 nominal value (the &#8220;<font style="font-weight: bold;">Ordinary Shares</font>&#8221; or &#8220;<font style="font-weight: bold;">Shares</font>&#8221;), of Ceragon Networks Ltd. (&#8220;<font style="font-weight: bold;">we</font>,&#8221; &#8220;<font style="font-weight: bold;">Ceragon</font>&#8221; or the &#8220;<font style="font-weight: bold;">Company</font>&#8221;) in connection with
          the solicitation by the Board of Directors of the Company of proxies for use at the Company&#8217;s 2023 Annual General Meeting of Shareholders (the &#8220;<font style="font-weight: bold;">Meeting</font>&#8221;), or at any postponements or adjournments thereof.</div>
        <div style="line-height: 1.25; color: rgb(0, 0, 0);">&#160;</div>
        <div style="text-align: justify; line-height: 1.25; color: rgb(0, 0, 0);">The Meeting will be held on Wednesday, September 6,<font style="font-weight: bold;">&#160;</font>2023, at 4:00 PM (Israel time), at the offices of the Company, 3 Uri Ariav St.,
          Bldg. A, 7<sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">th</sup> floor, Rosh Ha&#8217;ayin, Israel.</div>
        <div style="line-height: 1.25; color: rgb(0, 0, 0);">&#160;</div>
        <div style="text-align: center; line-height: 1.25; font-weight: bold; color: rgb(0, 0, 0);">PURPOSE OF THE ANNUAL GENERAL MEETING</div>
        <div style="line-height: 1.25; color: rgb(0, 0, 0);">&#160;</div>
        <div style="text-align: justify; line-height: 1.25; color: rgb(0, 0, 0);">It is proposed that at the Meeting, resolutions be adopted as follows:</div>
        <div style="line-height: 1.25; color: rgb(0, 0, 0);">&#160;</div>
        <table cellspacing="0" cellpadding="0" class="DSPFListTable" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

            <tr>
              <td style="width: 31.5pt; vertical-align: top; font-size: 12pt; color: rgb(0, 0, 0);">1.</td>
              <td style="width: auto; vertical-align: top; text-align: justify;">
                <div style="color: rgb(0, 0, 0);">To elect Yael Shaham to serve on the Board for a term of approximately one (1) year ending on the date of the next annual general meeting that will be held in 2024;</div>
              </td>
            </tr>

        </table>
        <div style="line-height: 1.25;"><font style="color: rgb(0, 0, 0);"><br style="line-height: 1.25;">
          </font> </div>
        <table cellspacing="0" cellpadding="0" class="DSPFListTable" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

            <tr>
              <td style="width: 31.5pt; vertical-align: top; color: rgb(0, 0, 0);">2.</td>
              <td style="width: auto; vertical-align: top; text-align: justify;">
                <div style="color: rgb(0, 0, 0);">To approve a grant of options to each of the Company&#8217;s non-executive directors, as part of their compensation for service as such;</div>
              </td>
            </tr>

        </table>
        <div style="line-height: 1.25;"><font style="color: rgb(0, 0, 0);"><br style="line-height: 1.25;">
          </font> </div>
        <table cellspacing="0" cellpadding="0" class="DSPFListTable" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

            <tr>
              <td style="width: 31.5pt; vertical-align: top; color: rgb(0, 0, 0);">3.</td>
              <td style="width: auto; vertical-align: top; text-align: justify;">
                <div style="color: rgb(0, 0, 0);">To approve the renewal of the Company's Executives &amp; Directors Compensation Policy and amendment thereof;</div>
              </td>
            </tr>

        </table>
        <div style="line-height: 1.25;"><font style="color: rgb(0, 0, 0);"><br style="line-height: 1.25;">
          </font> </div>
        <table cellspacing="0" cellpadding="0" class="DSPFListTable" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

            <tr>
              <td style="width: 31.5pt; vertical-align: top; color: rgb(0, 0, 0);">4.</td>
              <td style="width: auto; vertical-align: top; text-align: justify;">
                <div style="color: rgb(0, 0, 0);">To approve certain compensation terms for the Company&#8217;s Chief Executive Officer: an annual cash bonus plan and equity grant for 2023; and</div>
              </td>
            </tr>

        </table>
        <div style="line-height: 1.25; color: rgb(0, 0, 0);">&#160;</div>
        <table cellspacing="0" cellpadding="0" class="DSPFListTable" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

            <tr>
              <td style="width: 31.5pt; vertical-align: top; color: rgb(0, 0, 0);">5.</td>
              <td style="width: auto; vertical-align: top; text-align: justify;">
                <div style="color: rgb(0, 0, 0);">To re-appoint Kost Forer Gabbay &amp; Kasierer, a Member of Ernst &amp; Young Global, as the Company&#8217;s independent auditor for the fiscal year ending December 31, 2023 and for the year commencing January 1,
                  2024 and until immediately following the next annual general meeting of shareholders, and to authorize the Board of Directors (with power of delegation to its Financial Audit Committee), to set the annual compensation of the independent
                  auditor in accordance with the volume and nature of its services.</div>
              </td>
            </tr>

        </table>
        <div style="line-height: 1.25; color: rgb(0, 0, 0);">&#160;</div>
        <div style="text-align: justify; line-height: 1.25; color: rgb(0, 0, 0);">Additionally, at the Meeting, shareholders will be provided with the opportunity to receive and consider the auditor&#8217;s report and the audited consolidated financial
          statements of the Company for the fiscal year ended December 31, 2022. This item will not involve a vote of the shareholders.</div>
        <div style="line-height: 1.25; color: rgb(0, 0, 0);">&#160;</div>
        <div style="text-align: justify; line-height: 1.25; color: rgb(0, 0, 0);">We intend to hold the Meeting in person and all shareholders are cordially invited to attend the Meeting in person. However, we may decide to hold the Meeting virtually on
          the above date and time instead of in person, in which case an announcement of such change will be furnished with the Securities and Exchange Commission (the &#8220;<font style="font-weight: bold;">SEC</font>&#8221;) on a Report on Form 6-K as promptly as
          practicable.</div>
        <div style="line-height: 1.25; color: rgb(0, 0, 0);">&#160;</div>
        <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" class="BRPFPageBreakArea">
          <div style="page-break-after: always;" class="BRPFPageBreak">
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        <!--PROfilePageNumberReset%Num%2%%%-->
        <div style="text-align: center; line-height: 1.25; font-weight: bold; color: rgb(0, 0, 0);">RECORD DATE AND VOTING RIGHTS</div>
        <div style="line-height: 1.25; color: rgb(0, 0, 0);">&#160;</div>
        <div style="text-align: justify; line-height: 1.25; color: rgb(0, 0, 0);">Only holders of record of Ordinary Shares at the close of business on Tuesday, August 1, 2023, the record date for determining those shareholders eligible to vote at the
          Meeting, will be entitled to notice of and to vote at the Meeting (including any adjournments or postponements thereof) (the &#8220;<font style="font-weight: bold;">Record Date</font>&#8221;). Each Ordinary Share issued and outstanding as of the close of
          market on the Record Date, is entitled to one vote on each of the Proposals to be presented at the Meeting.</div>
        <div style="line-height: 1.25; color: rgb(0, 0, 0);">&#160;</div>
        <div style="text-align: center; line-height: 1.25; font-weight: bold; color: rgb(0, 0, 0);">QUORUM</div>
        <div style="line-height: 1.25; color: rgb(0, 0, 0);">&#160;</div>
        <div style="text-align: justify; line-height: 1.25; color: rgb(0, 0, 0);">Under our Articles, two or more shareholders, present in person or by proxy, entitled to vote and holding together Ordinary Shares conferring in the aggregate twenty-five
          percent (25%) or more of the voting power of the Company, shall constitute a quorum at the Meeting. If within an hour from the time appointed for the Meeting a quorum is not present, the Meeting will be rescheduled for the following week and
          accordingly, will stand adjourned until Wednesday, September 13, 2023, at the same time and place. At such adjourned Meeting, any two (2) shareholders present in person or by proxy, shall constitute a quorum.</div>
        <div style="line-height: 1.25; color: rgb(0, 0, 0);">&#160;</div>
        <div style="text-align: center; line-height: 1.25; font-weight: bold; color: rgb(0, 0, 0);">&#160;SHARES OUTSTANDING</div>
        <div style="line-height: 1.25; color: rgb(0, 0, 0);">&#160;</div>
        <div style="text-align: justify; line-height: 1.25; color: rgb(0, 0, 0);">As of July 25, 2023, we had 84,392,346 Ordinary Shares issued and outstanding (this amount does not include 3,481,523 ordinary shares held by the Company as treasury shares).
          American Stock Transfer&#160;&amp; Trust&#160;Company, New York, New York is the transfer agent and registrar for the Ordinary Shares.</div>
        <div style="line-height: 1.25; color: rgb(0, 0, 0);">&#160;</div>
        <div style="text-align: center; line-height: 1.25; font-weight: bold; color: rgb(0, 0, 0);">PROXY PROCEDURE</div>
        <div style="line-height: 1.25; color: rgb(0, 0, 0);">&#160;</div>
        <div style="text-align: justify; line-height: 1.25; color: rgb(0, 0, 0);">A form of proxy for use at the Meeting and a return envelope for the proxy are also enclosed.</div>
        <div style="line-height: 1.25; color: rgb(0, 0, 0);">&#160;</div>
        <div style="text-align: justify; line-height: 1.25; color: rgb(0, 0, 0);">If specification is made by a shareholder on the form of proxy, the Shares represented thereby will be voted in accordance with such specification. If any other matters are
          presented at the Meeting, the persons named in the attached form of proxy shall vote all shares represented by all executed proxies in their best judgment. If no direction is indicated with respect to one or more of the resolutions on the proxy,
          the proxy will be voted &#8220;FOR&#8221; each such resolution. On all matters considered at the Meeting, abstentions and broker non-votes will be treated as neither a vote &#8220;FOR&#8221; nor &#8220;AGAINST&#8221; the matter, but they will be counted in determining if a quorum
          is present. Broker non-votes are votes that brokers holding shares of record for their clients are, pursuant to applicable stock exchange or other rules, precluded from casting in respect of certain non-routine proposals because such brokers have
          not received specific instructions from their clients as to the manner in which such shares should be voted on those proposals.</div>
        <div style="line-height: 1.25; color: rgb(0, 0, 0);">&#160;</div>
        <div style="text-align: justify; line-height: 1.25; color: rgb(0, 0, 0);">Shareholders may revoke the authority granted by their execution of proxies at any time before the effective exercise thereof by: (i) filing with the Company a written notice
          of revocation or duly executed proxy bearing a later date (but not less than twenty-four (24) hours prior to the time fixed for the Meeting); or (ii) voting in person at the Meeting.&#160; However, if a shareholder attends the Meeting and does not
          elect to vote in person, his or her proxy will not be revoked. If a proxy is properly executed and received not less than twenty-four (24) hours prior to the time fixed for the Meeting, Ordinary Shares represented by such proxy will be voted in
          the manner described above. If you hold your shares in &#8220;street name&#8221; and do not provide your broker with voting instructions for the Meeting, your broker will not be permitted to vote your shares on non-routine&#160;proposals, resulting in a &#8220;broker
          non-vote.&#8221; Therefore, it is important for a shareholder that holds ordinary shares through a bank or broker to instruct its bank or broker how to vote its shares.</div>
        <div style="line-height: 1.25; color: rgb(0, 0, 0);">&#160;</div>
        <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" class="BRPFPageBreakArea">
          <div style="text-align: center;" class="BRPFPageNumberArea"><font style="color: #000000; font-weight: normal; font-style: normal;" class="BRPFPageNumber">2</font></div>
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        </div>
        <div style="text-align: justify; line-height: 1.25;"><font style="color: rgb(0, 0, 0);">Proxies for use at the Meeting are being solicited by the Board of Directors chiefly by mail;&#160;however, certain officers, directors, employees and agents of the
            Company, none of whom will receive additional compensation for such solicitation, may solicit proxies by telephone, electronic mail or other personal contact. We may also retain an independent contractor to assist in the solicitation of
            proxies. If retained for such services, we will pay the related costs. The Company will bear the cost for the solicitation of the proxies, including postage, printing and handling, and will reimburse the reasonable expenses of brokerage firms
            and others for forwarding material to, and obtaining authority to execute proxies from, beneficial owners of Shares.</font></div>
        <div style="line-height: 1.25; color: rgb(0, 0, 0);">&#160;</div>
        <div style="text-align: justify; line-height: 1.25; color: rgb(0, 0, 0);">Shareholders may express their position on the proposals to be voted on at the Meeting by submitting a written statement, through the Company, to the other shareholders (a &#8220;<font style="font-weight: bold;">Position Statement</font>&#8221;). Position Statements must be submitted to the Company&#8217;s offices at 3 Uri Ariav st., PO Box 112, Rosh Ha&#8217;Ayin, Israel, 4810002, Attention: General Counsel, no later than Sunday, August 27,
          2023. Any Position Statement received will be furnished to the SEC on Form&#160;6-K&#160;and will be made available to the public on the SEC&#8217;s website at&#160;www.sec.gov.&#160; Pursuant to the Companies Law, any shareholder or shareholders of the Company holding at
          least one&#160;percent&#160;(1%) of the voting rights of the Company (the &#8220;Proposing Shareholder(s)&#8221;) may request that the Board of Directors include a matter on the&#160;agenda of a General Meeting to be held in the future, provided that the Board of Directors
          determines that the matter is appropriate to be considered at a General Meeting (a &#8220;<font style="font-weight: bold;">Proposal&#160;Request</font>&#8221;). In order for the Board of Directors to consider a Proposal&#160;Request and whether to include the matter
          stated therein in the agenda of a General Meeting, notice of the Proposal&#160;Request must be timely delivered in accordance with applicable law, and the Proposal&#160;Request must comply with the requirements of the Articles and any applicable law and
          stock exchange rules and regulations. The Proposal&#160;Request must be in writing, signed by the Proposing Shareholder(s)&#160;making such request, delivered, either in person or by registered mail, postage prepaid, to the Company&#8217;s offices at 3 Uri Ariav
          st., PO Box 112, Rosh Ha&#8217;Ayin, Israel, 4810002 c/o General Counsel. To be considered timely, a Proposal&#160;Request must be received by Thursday, August 3, 2023.</div>
        <div style="line-height: 1.25; color: rgb(0, 0, 0);">&#160;</div>
        <div style="text-align: justify; line-height: 1.25; color: rgb(0, 0, 0);">In addition to any information required in accordance with applicable law, a Proposal&#160;Request must include the following: (i)&#160;the name, address, telephone number, fax number
          and email address of the Proposing Shareholder (or each Proposing Shareholder, as the case may be) and, if an entity, the name(s)&#160;of the person(s)&#160;that controls or manages such entity; (ii)&#160;the number of shares held by the Proposing
          Shareholder(s), directly or indirectly (and, if any of such shares are held indirectly, an explanation of how they are held and by whom), which shall be in such number no less than as is required to qualify as a Proposing Shareholder, accompanied
          by evidence satisfactory to the Company of the record holding of such shares by the Proposing Shareholder(s)&#160;as of the date of the Proposal&#160;Request; (iii)&#160;the matter requested to be included on the agenda of a Meeting, all information related to
          such matter, the reason that such matter is proposed to be brought before the Meeting, the complete text of the resolution that the Proposing Shareholder proposes to be voted upon at the Meeting, and a representation that the Proposing
          Shareholder(s)&#160;intend to appear in person or by proxy at the meeting; (iv)&#160;a description of all arrangements or understandings between the Proposing Shareholders and any other person(s)&#160;(naming such person or persons) in connection with the
          matter that is requested to be included on the agenda and a declaration signed by all Proposing Shareholder(s)&#160;of whether any of them has a personal interest in the matter and, if so, a description in reasonable detail of such: personal interest;
          (v)&#160;a description of all Derivative Transactions (as defined in the Articles) by each Proposing Shareholder(s)&#160;during the previous twelve (12)&#160;month period, including the date of the transactions and the class, series and number of securities
          involved in, and the material economic terms of, such Derivative Transactions; and (vi)&#160;a declaration that all of the information that is required under the Companies Law and any other applicable law and stock exchange rules and regulations to be
          provided to the Company in connection with such matter, if any, has been provided to the Company. Furthermore, the Board of Directors, may, in its discretion, to the extent it deems necessary, request that the Proposing Shareholder(s)&#160;provide
          additional information necessary&#160;so as to&#160;include a matter in the agenda of a Meeting, as the Board of Directors may reasonably require.</div>
        <div style="line-height: 1.25; color: rgb(0, 0, 0);">&#160;</div>
        <div style="text-align: justify; line-height: 1.25; color: rgb(0, 0, 0);">Should changes be made to any item on the agenda for the Meeting after the publication of this Proxy Statement, we will communicate the changes to our shareholders through
          the publication of a press release, a copy of which will be furnished with the SEC on a Report on Form 6-K.</div>
        <div style="line-height: 1.25; color: rgb(0, 0, 0);">&#160;</div>
        <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" class="BRPFPageBreakArea">
          <div style="text-align: center;" class="BRPFPageNumberArea"><font style="color: #000000; font-weight: normal; font-style: normal;" class="BRPFPageNumber">3</font></div>
          <div style="page-break-after: always;" class="BRPFPageBreak">
            <hr noshade="noshade" style="border-width: 0px; clear: both; margin: 4px 0px; width: 100%; height: 2px; color: #000000; background-color: #000000;"></div>
        </div>
        <div style="text-align: center; line-height: 1.25; font-weight: bold; color: rgb(0, 0, 0);">BENEFICIAL OWNERSHIP OF SECURITIES BY PRINCIPAL</div>
        <div style="line-height: 1.25; color: rgb(0, 0, 0);">&#160;</div>
        <div style="text-align: center; line-height: 1.25; font-weight: bold; color: rgb(0, 0, 0);">SHAREHOLDERS AND MANAGEMENT</div>
        <div style="line-height: 1.25; color: rgb(0, 0, 0);">&#160;</div>
        <div style="text-align: justify; line-height: 1.25; color: rgb(0, 0, 0);">The following table sets forth certain information, as of July 25, 2023, regarding: (i) all persons or entities known to the Company to beneficially own more than 5% of the
          Company&#8217;s Ordinary Shares; (ii) each &#8220;office holder&#8221;<sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">1</sup>, as such term is defined in the Companies Law, of the Company (the &#8220;<font style="font-weight: bold;">Office Holders</font>&#8221;) known to the Company to beneficially own more than 1% of
          the Company&#8217;s Ordinary Shares; and (iii) all Office Holders as a group.</div>
        <div style="line-height: 1.25; color: rgb(0, 0, 0);">&#160;</div>
        <div style="text-align: justify; line-height: 1.25; color: rgb(0, 0, 0);">The information contained herein has been obtained from the Company&#8217;s records or from information furnished by the individual or entity to the Company or disclosed in public
          filings with the SEC. Except where otherwise indicated, and except pursuant to community property laws, we believe, based on information furnished by such owners, that the beneficial owners of the Ordinary Shares listed below have sole investment
          and voting power with respect to such Ordinary Shares.</div>
        <div style="line-height: 1.25; color: rgb(0, 0, 0);">&#160;</div>
        <div style="text-align: justify; line-height: 1.25; color: rgb(0, 0, 0);">The shareholders listed below do not have any different voting rights from any of our other shareholders.</div>
        <div style="line-height: 1.25; color: rgb(0, 0, 0);">&#160;</div>
        <div style="text-align: justify; line-height: 1.25; color: rgb(0, 0, 0);">The SEC defines &#8220;beneficial ownership&#8221; of a security to mean the possession, directly or indirectly, of voting power and/or investment power over such security.&#160; The &#8220;Number
          of Ordinary Shares Beneficially Owned&#8221; in the table below includes Ordinary Shares that may be acquired upon the (i)&#160;the exercise of any option, warrant or right, (ii)&#160;the conversion of a security, (iii)&#160;the power to revoke a trust, discretionary
          account or similar arrangement, or (iv)&#160;the automatic termination of a trust, discretionary account or similar arrangement. In computing the number of shares beneficially owned by a person and the percentage ownership of that person, ordinary
          shares subject to exercise of options or other rights (as set forth above)&#160;that are either currently exercisable or will become exercisable within sixty (60) days as of July 25, 2023. The Ordinary Shares that may be issued under these options are
          deemed to be outstanding for the purpose of determining the percentage owned by the person or group holding the options but are not deemed to be outstanding for the purpose of determining the percentage of ownership of any other person or group
          shown in the table.</div>
        <div style="line-height: 1.25; color: rgb(0, 0, 0);">&#160;</div>
        <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; text-align: left; color: #000000; width: 100%;" class="cfttable">

            <tr>
              <td style="vertical-align: bottom; text-align: center; border-bottom: 2px solid rgb(0, 0, 0);">
                <div style="line-height: 1.25; font-family: 'Times New Roman',Times,serif; color: rgb(0, 0, 0);">Name of Beneficial Owner</div>
              </td>
              <td style="vertical-align: bottom; text-align: center; padding-bottom: 2px; color: rgb(0, 0, 0);" colspan="1" class="cftguttercell">&#160;</td>
              <td style="vertical-align: bottom; text-align: center; border-bottom: 2px solid rgb(0, 0, 0);" colspan="2">
                <div style="line-height: 1.25; font-family: 'Times New Roman',Times,serif; color: rgb(0, 0, 0);">Number of Ordinary Shares Beneficially Owned</div>
              </td>
              <td nowrap="nowrap" style="text-align: center; vertical-align: bottom; padding-bottom: 2px; color: rgb(0, 0, 0);" colspan="1" class="cftfncell">&#160;</td>
              <td style="vertical-align: bottom; text-align: center; padding-bottom: 2px; color: rgb(0, 0, 0);" colspan="1" class="cftguttercell">&#160;</td>
              <td style="vertical-align: bottom; text-align: center; border-bottom: 2px solid rgb(0, 0, 0);" colspan="2">
                <div style="line-height: 1.25; font-family: 'Times New Roman',Times,serif; color: rgb(0, 0, 0);">Percentage of Ordinary Shares Beneficially Owned <sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">(1)</sup></div>
              </td>
              <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; padding-bottom: 2px; color: rgb(0, 0, 0);" colspan="1" class="cftfncell">&#160;</td>
            </tr>
            <tr>
              <td valign="bottom" style="vertical-align: top; background-color: rgb(204, 238, 255);">
                <div style="line-height: 1.25; font-weight: bold; color: rgb(0, 0, 0);">Greater than 5% Shareholders</div>
              </td>
              <td valign="bottom" style="vertical-align: bottom; background-color: rgb(204, 238, 255); color: rgb(0, 0, 0);" colspan="1" class="cftguttercell">&#160;</td>
              <td valign="bottom" style="vertical-align: top; background-color: rgb(204, 238, 255); color: rgb(0, 0, 0);" colspan="2">&#160;</td>
              <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; background-color: rgb(204, 238, 255); color: rgb(0, 0, 0);" colspan="1" class="cftfncell">&#160;</td>
              <td valign="bottom" style="vertical-align: bottom; background-color: rgb(204, 238, 255); color: rgb(0, 0, 0);" colspan="1" class="cftguttercell">&#160;</td>
              <td valign="bottom" style="vertical-align: top; background-color: rgb(204, 238, 255); color: rgb(0, 0, 0);" colspan="2">&#160;</td>
              <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; background-color: rgb(204, 238, 255); color: rgb(0, 0, 0);" colspan="1" class="cftfncell">&#160;</td>
            </tr>
            <tr>
              <td valign="bottom" style="vertical-align: top; width: 76%;">
                <div style="line-height: 1.25; color: rgb(0, 0, 0);">Joseph D. Samberg <sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">(2)</sup></div>
              </td>
              <td valign="bottom" style="vertical-align: bottom; width: 1%; color: rgb(0, 0, 0);" colspan="1" class="cftguttercell">&#160;</td>
              <td valign="bottom" style="vertical-align: bottom; width: 1%; color: rgb(0, 0, 0);" colspan="1" class="cftcurrcell">&#160;</td>
              <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%;" colspan="1" class="cftnumcell">
                <div style="line-height: 1.25; color: rgb(0, 0, 0);">8,280,000</div>
              </td>
              <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; color: rgb(0, 0, 0);" colspan="1" class="cftfncell">&#160;</td>
              <td valign="bottom" style="vertical-align: bottom; width: 1%; color: rgb(0, 0, 0);" colspan="1" class="cftguttercell">&#160;</td>
              <td valign="bottom" style="vertical-align: bottom; width: 1%; color: rgb(0, 0, 0);" colspan="1" class="cftcurrcell">&#160;</td>
              <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%;" colspan="1" class="cftnumcell">
                <div style="line-height: 1.25; color: rgb(0, 0, 0);">9.81</div>
              </td>
              <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%;" colspan="1" class="cftfncell">
                <div style="line-height: 1.25; color: rgb(0, 0, 0);">%</div>
              </td>
            </tr>
            <tr>
              <td valign="bottom" style="vertical-align: top; width: 76%; background-color: rgb(204, 238, 255);">
                <div style="line-height: 1.25; color: rgb(0, 0, 0);">Zohar Zisapel<sup style="vertical-align: text-top; line-height: 1; font-size: smaller;"> (3)</sup></div>
              </td>
              <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); color: rgb(0, 0, 0);" colspan="1" class="cftguttercell">&#160;</td>
              <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); color: rgb(0, 0, 0);" colspan="1" class="cftcurrcell">&#160;</td>
              <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);" colspan="1" class="cftnumcell">
                <div style="line-height: 1.25; color: rgb(0, 0, 0);">7,167,174</div>
              </td>
              <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); color: rgb(0, 0, 0);" colspan="1" class="cftfncell">&#160;</td>
              <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); color: rgb(0, 0, 0);" colspan="1" class="cftguttercell">&#160;</td>
              <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); color: rgb(0, 0, 0);" colspan="1" class="cftcurrcell">&#160;</td>
              <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);" colspan="1" class="cftnumcell">
                <div style="line-height: 1.25; color: rgb(0, 0, 0);">8.49</div>
              </td>
              <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1" class="cftfncell">
                <div style="line-height: 1.25; color: rgb(0, 0, 0);">%</div>
              </td>
            </tr>
            <tr>
              <td valign="bottom" style="vertical-align: top; width: 76%;">
                <div style="line-height: 1.25; font-weight: bold; color: rgb(0, 0, 0);">Office Holders</div>
              </td>
              <td valign="bottom" style="vertical-align: bottom; width: 1%; color: rgb(0, 0, 0);" colspan="1" class="cftguttercell">&#160;</td>
              <td valign="bottom" style="vertical-align: bottom; width: 1%; color: rgb(0, 0, 0);" colspan="1" class="cftcurrcell">&#160;</td>
              <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; color: rgb(0, 0, 0);" colspan="1" class="cftnumcell">&#160;</td>
              <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; color: rgb(0, 0, 0);" colspan="1" class="cftfncell">&#160;</td>
              <td valign="bottom" style="vertical-align: bottom; width: 1%; color: rgb(0, 0, 0);" colspan="1" class="cftguttercell">&#160;</td>
              <td valign="bottom" style="vertical-align: bottom; width: 1%; color: rgb(0, 0, 0);" colspan="1" class="cftcurrcell">&#160;</td>
              <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; color: rgb(0, 0, 0);" colspan="1" class="cftnumcell">&#160;</td>
              <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; color: rgb(0, 0, 0);" colspan="1" class="cftfncell">&#160;</td>
            </tr>
            <tr>
              <td valign="bottom" style="vertical-align: top; width: 76%; background-color: rgb(204, 238, 255);">
                <div style="line-height: 1.25; color: rgb(0, 0, 0);">All Office Holders, including directors as a group</div>
              </td>
              <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); color: rgb(0, 0, 0);" colspan="1" class="cftguttercell">&#160;</td>
              <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); color: rgb(0, 0, 0);" colspan="1" class="cftcurrcell">&#160;</td>
              <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);" colspan="1" class="cftnumcell">
                <div style="line-height: 1.25; color: rgb(0, 0, 0);">1,221,592</div>
              </td>
              <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); color: rgb(0, 0, 0);" colspan="1" class="cftfncell">&#160;</td>
              <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); color: rgb(0, 0, 0);" colspan="1" class="cftguttercell">&#160;</td>
              <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); color: rgb(0, 0, 0);" colspan="1" class="cftcurrcell">&#160;</td>
              <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);" colspan="1" class="cftnumcell">
                <div style="line-height: 1.25; color: rgb(0, 0, 0);">1.45</div>
              </td>
              <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1" class="cftfncell">
                <div style="line-height: 1.25; color: rgb(0, 0, 0);">%</div>
              </td>
            </tr>

        </table>
        <div><font style="color: rgb(0, 0, 0);"><br>
          </font> </div>
        <table cellspacing="0" cellpadding="0" border="0" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

            <tr>
              <td style="width: 3.45%; vertical-align: top; color: rgb(0, 0, 0);">&#160;</td>
              <td style="width: 4%; vertical-align: top;">
                <div style="text-align: justify; line-height: 1.25; color: rgb(0, 0, 0);">(1)</div>
              </td>
              <td style="width: 93%; vertical-align: top;">
                <div style="text-align: justify; line-height: 1.25; color: rgb(0, 0, 0);">Based on 84,392,346 Ordinary Shares issued and outstanding as of July 25, 2023 (this amount does not include 3,481,523 ordinary shares held by the Company as treasury
                  shares).</div>
              </td>
            </tr>
            <tr>
              <td style="width: 3.45%; vertical-align: top; color: rgb(0, 0, 0);" rowspan="1">&#160;</td>
              <td style="width: 4%; vertical-align: top; color: rgb(0, 0, 0);" rowspan="1">&#160;</td>
              <td style="width: 93%; vertical-align: top; color: rgb(0, 0, 0);" rowspan="1">&#160;</td>
            </tr>
            <tr>
              <td style="width: 3.45%; vertical-align: top; color: rgb(0, 0, 0);">&#160;</td>
              <td style="width: 4%; vertical-align: top;">
                <div style="text-align: justify; line-height: 1.25; color: rgb(0, 0, 0);">(2)</div>
              </td>
              <td style="width: 93%; vertical-align: top;">
                <div style="text-align: justify; line-height: 1.25; color: rgb(0, 0, 0);">Joseph D. Samberg&#8217;s address is 1091 Boston Post Road, Rye, NY 10580.</div>
              </td>
            </tr>
            <tr>
              <td style="width: 3.45%; vertical-align: top; color: rgb(0, 0, 0);" rowspan="1">&#160;</td>
              <td style="width: 4%; vertical-align: top; color: rgb(0, 0, 0);" rowspan="1">&#160;</td>
              <td style="width: 93%; vertical-align: top; color: rgb(0, 0, 0);" rowspan="1">&#160;</td>
            </tr>
            <tr>
              <td style="width: 3.45%; vertical-align: top; color: rgb(0, 0, 0);">&#160;</td>
              <td style="width: 4%; vertical-align: top;">
                <div style="text-align: justify; line-height: 1.25; color: rgb(0, 0, 0);">(3)</div>
              </td>
              <td style="width: 93%; vertical-align: top;">
                <div style="text-align: justify; line-height: 1.25; color: rgb(0, 0, 0);">
                  <div style="line-height: 1.25; font-family: 'Times New Roman',Times,serif;">Zohar Zisapel passed away on May 19, 2023. His last address was 24 Raoul Wallenberg St., Tel Aviv 69719, Israel.
                    The Ordinary Shares held by Zohar Zisapel include (i) 3,694,986 Ordinary Shares held by Zohar Zisapel; (ii) 250,000 Ordinary Shares issuable upon the exercise of options granted to Mr. Zisapel exercisable as of July 25, 2023 or within
                    60 days thereafter; (iii) 1,101,245 Ordinary Shares held of record by Lomsha Ltd., an Israeli company controlled by Mr. Zisapel&#8217;s family members; (iv) 18,717 Ordinary Shares held by RAD Data Communications Ltd., an Israeli company of
                    which Mr. Zisapel was a principal shareholder and a director and of which Mr. Zisapel and his brother, Mr. Yehuda Zisapel, and Ms. Nava Zisapel, have shared voting and dispositive power; and (v) 2,102,226 Ordinary Shares held by Michael
                    and Klil Holdings (93) Ltd., an Israeli company controlled by Mr. Zisapel&#8217;s family members. The number of Ordinary Shares beneficially held by Zohar Zisapel is to the best of the Company&#8217;s knowledge and is based on a Schedule 13D/A
                    filed by Mr. Zisapel with the SEC on February 22, 2021, as updated by additional share ownership information provided to the Company by the shareholder&#8217; representative and through the Israeli Companies Public Registry.</div>
                </div>
              </td>
            </tr>

        </table>
        <div style="line-height: 1.25; color: rgb(0, 0, 0);">&#160;</div>
        <div style="text-align: justify; line-height: 1.25; color: rgb(0, 0, 0);">For information relating to the compensation of our five most highly compensated Office Holders with respect to the year ended December 31, 2022, please see &#8220;Item 6. <font style="font-style: italic;">Directors, Senior Management and Employees</font> &#8211; B. <font style="font-style: italic;">Compensation</font> - <font style="font-style: italic;">b) Individual Compensation of Office Holders</font>&#8221; in our Annual
          Report for 2022, which was filed on Form 20-F with the SEC on May 1, 2023.</div>
        <div style="line-height: 1.25; color: rgb(0, 0, 0);">&#160;</div>
        <div style="line-height: 1.25">
          <hr noshade="noshade" align="left" style="background-color: #000000; border: 0px; height: 1px; width: 2in; margin-left: 0pt; margin-right: auto; color: #000000;">
          <div style="line-height: 1.25;"><font style="color: rgb(0, 0, 0);"><br style="line-height: 1.25;">
            </font> </div>
          <table cellspacing="0" cellpadding="0" class="DSPFListTable" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

              <tr>
                <td style="width: -30.6pt;"><font style="color: rgb(0, 0, 0);"><br>
                  </font> </td>
                <td style="width: 28.35pt; vertical-align: top; color: rgb(0, 0, 0);"><sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">1</sup></td>
                <td style="width: auto; vertical-align: top; text-align: justify;">
                  <div style="font-size: 12pt; color: rgb(0, 0, 0);"><font style="font-size: 10pt;">The term &#8220;Office Holder&#8221; as defined in the Companies Law includes a director, the chief executive officer, the chief business officer, the vice chief
                      executive officer, the deputy chief executive officer, any other person fulfilling or assuming any of the foregoing positions without regard to such person's title, and any manager who is directly subordinated to the chief executive
                      officer.</font></div>
                </td>
              </tr>

          </table>
          <div style="line-height: 1.25; color: rgb(0, 0, 0);">&#160;</div>
        </div>
        <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" class="BRPFPageBreakArea">
          <div style="text-align: center;" class="BRPFPageNumberArea"><font style="color: #000000; font-weight: normal; font-style: normal;" class="BRPFPageNumber">4</font></div>
          <div style="page-break-after: always;" class="BRPFPageBreak">
            <hr noshade="noshade" style="border-width: 0px; clear: both; margin: 4px 0px; width: 100%; height: 2px; color: #000000; background-color: #000000;"></div>
        </div>
        <div style="text-align: center; line-height: 1.25; font-weight: bold; color: rgb(0, 0, 0);">Results of the Annual Meeting</div>
        <div style="line-height: 1.25; color: rgb(0, 0, 0);">&#160;</div>
        <div style="text-align: justify; line-height: 1.25; color: rgb(0, 0, 0);">The preliminary voting results will be announced at the Meeting. The final voting results will be tallied by the Company&#8217;s General Counsel based on the information provided
          by the Company&#8217;s transfer agent or otherwise and will be published on a Form&#160;6-K&#160;that we will file with the SEC after the Meeting.</div>
        <div style="line-height: 1.25; color: rgb(0, 0, 0);">&#160;</div>
        <div style="text-align: center; line-height: 1.25; font-weight: bold; color: rgb(0, 0, 0);">Proxy Materials</div>
        <div style="line-height: 1.25; color: rgb(0, 0, 0);">&#160;</div>
        <div style="text-align: justify; line-height: 1.25; color: rgb(0, 0, 0);">Copies of the proxy card, the notice of the&#160;Meeting&#160;and this proxy statement are available at&#160;www.ceragon.com/investors. Information about the Meeting can also be found on
          the&#160;&#8220;Investor Relations&#8221;&#160;section of our website. The contents of our and any other website are not incorporated by reference into this Proxy Statement.</div>
        <div style="line-height: 1.25; color: rgb(0, 0, 0);">&#160;</div>
        <div style="text-align: center; line-height: 1.25; font-weight: bold; color: rgb(0, 0, 0);">Assistance in Voting your Shares</div>
        <div style="line-height: 1.25; color: rgb(0, 0, 0);">&#160;</div>
        <div style="text-align: justify; line-height: 1.25; color: rgb(0, 0, 0);">If you have questions about how to vote your shares, you may contact Hadar Vismunski Weinberg, General Counsel at +972-3-543-1596.</div>
        <div style="line-height: 1.25; color: rgb(0, 0, 0);">&#160;</div>
        <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" class="BRPFPageBreakArea">
          <div style="text-align: center;" class="BRPFPageNumberArea"><font style="color: #000000; font-weight: normal; font-style: normal;" class="BRPFPageNumber">5</font></div>
          <div style="page-break-after: always;" class="BRPFPageBreak">
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        </div>
        <div style="text-align: center; line-height: 1.25; font-weight: bold; color: rgb(0, 0, 0);">PROPOSAL 1</div>
        <div style="line-height: 1.25; color: rgb(0, 0, 0);">&#160;</div>
        <div style="text-align: center; line-height: 1.25; font-weight: bold; color: rgb(0, 0, 0);"><u>ELECTION OF A DIRECTOR</u></div>
        <div style="text-align: justify; line-height: 1.25; font-weight: bold; color: rgb(0, 0, 0);"><u> <br>
          </u></div>
        <div style="text-align: justify; line-height: 1.25; font-weight: bold; color: rgb(0, 0, 0);"><u>Background</u></div>
        <div style="line-height: 1.25; color: rgb(0, 0, 0);">&#160;</div>
        <div style="text-align: justify; line-height: 1.25; color: rgb(0, 0, 0);">At the 2021 annual general meeting of the Company&#8217;s shareholders, held on July 19, 2021 (the &#8220;<font style="font-weight: bold;">2021 AGM&#8221;), </font>our shareholders approved
          the election of seven (7) directors to serve as members of the Board for a term of approximately three (3) years, ending on the date of the annual general meeting that will be held in 2024 (the &#8220;<font style="font-weight: bold;">2024 AGM</font>&#8221;).
          With the voluntary termination of service by Ms. Yael Langer, prior to the 2022 annual general meeting of the Company&#8217;s shareholders, held on October 3, 2022 (the &#8220;<font style="font-weight: bold;">2022 AGM</font>&#8221;), our shareholders approved the
          election of Ms. Efrat Makov to serve as director, in order to fill the vacancy created by the resignation of Ms. Langer, for a term of approximately two (2) years, ending on the date of the 2024 AGM.</div>
        <div style="line-height: 1.25; color: rgb(0, 0, 0);">&#160;</div>
        <div style="text-align: justify; line-height: 1.25; color: rgb(0, 0, 0);">Our Articles provide that the number of directors to serve on our Board shall be no less than five (5) and no more than nine (9) directors, unless otherwise resolved by our
          shareholders. The Board is currently comprised of six (6) directors, all of whom are serving terms that will expire at the conclusion of the 2024 AGM.</div>
        <div style="line-height: 1.25; color: rgb(0, 0, 0);">&#160;</div>
        <div style="text-align: justify; line-height: 1.25; color: rgb(0, 0, 0);">On May 19, 2023, Mr. Zohar Zisapel, our Chairman of the Board, passed away. Our Board elected Mr. Rosen to serve as our Chairman of the Board, in accordance with Section 48
          to our Articles.</div>
        <div style="line-height: 1.25; color: rgb(0, 0, 0);">&#160;</div>
        <div style="text-align: justify; line-height: 1.25; color: rgb(0, 0, 0);">In accordance with Section 39(d) to our Articles, all directors shall be appointed together on the same annual general meeting, subject to any earlier termination of service,
          which shall be filled with an appointment of a substitute director for the remainder of such three-year term. Further, in accordance with Section 41 to our Articles, directors may be appointed in between the three-year terms only in case there is
          a vacancy on our Board, so that in case our Board is left with five (5) members or more, we are able to appoint new directors to fill any such vacancy at the following annual general meeting of shareholders.</div>
        <div style="line-height: 1.25; color: rgb(0, 0, 0);">&#160;</div>
        <div style="text-align: justify; line-height: 1.25; color: rgb(0, 0, 0);">Accordingly, we now seek our shareholder approval for the appointment of Ms. Yael Shaham to serve as director, in order to fill the vacancy created by the death of Mr.
          Zisapel, for a term of approximately one (1) year, ending on the date of the 2024 AGM.</div>
        <div style="line-height: 1.25; color: rgb(0, 0, 0);">&#160;</div>
        <div style="text-align: justify; line-height: 1.25; font-weight: bold; color: rgb(0, 0, 0);"><u>General</u></div>
        <div style="line-height: 1.25; color: rgb(0, 0, 0);">&#160;</div>
        <div style="text-align: justify; line-height: 1.25; font-style: italic; color: rgb(0, 0, 0);">Election of Directors</div>
        <div style="line-height: 1.25; color: rgb(0, 0, 0);">&#160;</div>
        <div style="text-align: justify; line-height: 1.25; color: rgb(0, 0, 0);">According to the Companies Law, a person who does not possess the skills required and the ability to devote the appropriate time to the performance of the office of director
          in a company, taking into consideration, among other things, the special requirements and size of that company, shall neither be appointed as a director nor serve as a director in a public company. Further, a public company shall not convene a
          general meeting the agenda of which includes the appointment of a director, and a director shall not be appointed, unless the candidate has submitted a declaration that he or she possesses the skills required and the ability to devote the
          appropriate time required for the performance of his or her duties as a director in the company (a &#8220;<font style="font-weight: bold;">Director Declaration</font>&#8221;). A director who ceases to possess any qualification required under the Companies
          Law for holding the office of director or who becomes subject to any ground for termination of his/her office must inform the company immediately and his/her office shall terminate upon such notice.</div>
        <div style="line-height: 1.25; color: rgb(0, 0, 0);">&#160;</div>
        <div style="text-align: justify; line-height: 1.25; color: rgb(0, 0, 0);">Following the recommendation of such nominee to the Board by the Company&#8217;s Nomination Committee, in accordance with the rules of the Nasdaq Global Select Market (the &#8220;<font style="font-weight: bold;">Nasdaq Rules</font>&#8221;), it is proposed that Ms. Shaham be elected to serve as our director. If elected, Ms. Shaham will serve for a term of approximately one (1) year, ending on the date of the 2024 AGM.</div>
        <div style="line-height: 1.25; color: rgb(0, 0, 0);">&#160;</div>
        <div style="text-align: justify; line-height: 1.25; color: rgb(0, 0, 0);">The Company has received a Director Declaration from Ms. Shaham. The Company is not aware of any reason why Ms. Shaham, if elected, should be unable to serve as director. The
          Company does not have any understanding or agreement with respect to the future election of Ms. Shaham.</div>
        <div style="line-height: 1.25; color: rgb(0, 0, 0);">&#160;</div>
        <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" class="BRPFPageBreakArea">
          <div style="text-align: center;" class="BRPFPageNumberArea"><font style="color: #000000; font-weight: normal; font-style: normal;" class="BRPFPageNumber">6</font></div>
          <div style="page-break-after: always;" class="BRPFPageBreak">
            <hr noshade="noshade" style="border-width: 0px; clear: both; margin: 4px 0px; width: 100%; height: 2px; color: #000000; background-color: #000000;"></div>
        </div>
        <div style="text-align: justify; line-height: 1.25; color: rgb(0, 0, 0);">The Company believes that Ms. Shaham has a vast background in business and management, as well as a wide range of expertise, which will greatly benefit the Board's work and
          will enable us to drive profitable growth through a strategic plan that is designed to maximize profitability.</div>
        <div style="line-height: 1.25; color: rgb(0, 0, 0);">&#160;</div>
        <div style="text-align: justify; line-height: 1.25; font-style: italic; color: rgb(0, 0, 0);">Director Independency</div>
        <div style="line-height: 1.25; color: rgb(0, 0, 0);">&#160;</div>
        <div style="text-align: justify; line-height: 1.25; color: rgb(0, 0, 0);">Under the Nasdaq Rules, the majority of our directors are required to be independent. The independence criteria under the Nasdaq Rules excludes, among others, any person who
          is: (i) a current or former (at any time during the past three years) employee of the company or its affiliates; or (ii) an immediate family member of an executive officer (at any time during the past three years) of the company or its
          affiliates. In addition, under the Companies Law, an &#8220;independent director&#8221; is either an external director or a director appointed or classified as such who meets the same non-affiliation criteria as an external director, as determined by the
          company&#8217;s audit committee, and who has not served as a director of the company for more than nine consecutive years. For these purposes, ceasing to serve as a director for a period of two years or less would not be deemed to sever the consecutive
          nature of such director&#8217;s service. However, as our shares are listed on the Nasdaq Global Select Market, we may also, in accordance with the Israeli Companies Regulations (Relief for Companies with Shares Registered for Trade in a Stock Exchange
          Outside of Israel) (the &#8220;<font style="font-weight: bold;">Foreign Listed Regulations</font>&#8221;), classify directors who qualify as independent directors under the relevant non-Israeli rules, as &#8220;independent directors&#8221; under the Companies Law. Our
          Board has determined that Ms. Shaham qualifies for service as an &#8220;independent director&#8221;, as defined by the Nasdaq Rules, and our Audit Committee determined that she therefore also qualifies as an &#8220;independent director&#8221; under the Companies Law,
          pursuant to the relief provided in the Foreign Listed Regulations.</div>
        <div style="line-height: 1.25; color: rgb(0, 0, 0);">&#160;</div>
        <div style="text-align: justify; line-height: 1.25; color: rgb(0, 0, 0);">The following is a brief biography of Ms. Shaham, based upon information furnished to the Company by her:</div>
        <div style="line-height: 1.25; color: rgb(0, 0, 0);">&#160;</div>
        <div style="text-align: justify; line-height: 1.25; color: rgb(0, 0, 0);">Ms. Yael Shaham has more than 25 years of experience in management and strategic leadership roles and a wealth of knowledge from across the technology and business landscape.
          Yael currently serves as a Board Member at Glassbox (TASE:GLBX), where her responsibilities include the role of Chairwoman of Remuneration and Audit committees, along with membership in the Financial Statements committee, helping to shape the
          company's governance and overall performance. In addition, Yael serves as a member of the Board of Advisors at Veego, a contextual intelligence provider of an app identification technology, where she is involved in the development of Product
          Strategy and Go-to-Market initiatives.&#160; As General Manager of the Enterprise &amp; Learning Division at Kaltura (NASDAQ:KLTR), Ms. Shaham led multiple go-to-market teams to increase ARR while playing a key role in successfully guiding the
          company's IPO process. At Amdocs (NASDAQ:DOX), Ms. Shaham served as the General Manager of the Network Division, IT &amp; Operations Division, and Revenue Management Division. Her strategic vision and expertise contributed to revenue growth,
          successful M&amp;A integrations, and a quantitative increase in the company's perceived brand value.&#160; Ms. Shaham holds an MA in Organizational Sociology (cum laude) and BA in Computer Science and Sociology (summa cum laude), both from Bar Ilan
          University.</div>
        <div style="line-height: 1.25; color: rgb(0, 0, 0);">&#160;</div>
        <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" class="BRPFPageBreakArea">
          <div style="text-align: center;" class="BRPFPageNumberArea"><font style="color: #000000; font-weight: normal; font-style: normal;" class="BRPFPageNumber">7</font></div>
          <div style="page-break-after: always;" class="BRPFPageBreak">
            <hr noshade="noshade" style="border-width: 0px; clear: both; margin: 4px 0px; width: 100%; height: 2px; color: #000000; background-color: #000000;"></div>
        </div>
        <div style="text-align: justify; line-height: 1.25; font-weight: bold; color: rgb(0, 0, 0);"><u>Cash Compensation for Service as Director</u></div>
        <div style="line-height: 1.25; color: rgb(0, 0, 0);">&#160;</div>
        <div style="text-align: justify; line-height: 1.25; color: rgb(0, 0, 0);">Pursuant to Israeli law, any arrangement between the Company and a director regarding such director&#8217;s terms of office and employment (as a director or in other capacities in
          which he or she is engaged with the Company) must generally be consistent with the Company&#8217;s compensation policy, and generally requires the approval of the Company&#8217;s Compensation Committee (the &#8220;<font style="font-weight: bold;">Compensation
            Committee</font>&#8221;), Board and shareholders, in that order. Our Compensation Policy (as detailed in Proposal 3), authorizes each of our non-executive directors to receive cash compensation, which includes annual and participation fees, as well
          as equity based compensation. Our Compensation Committee and Board of Directors have determined that, subject to the approval by our shareholders of the appointment of Ms. Shaham for service as our director, she shall be entitled to a cash
          compensation in accordance with the &#8220;fixed&#8221; amounts set forth in regulations promulgated under the Companies Law concerning the remuneration of external directors (the &#8220;<font style="font-weight: bold;">Remuneration Regulations</font>&#8221;), as
          supplemented by the Foreign Listed Regulations, based on the classification of the Company according to the amount of its capital. The &#8220;fixed&#8221; amounts include annual fee, per-meeting participation fee for participation in meetings of the Board
          and its committees, and reimbursement of travel expenses for participation in a meeting which is held outside of their place of residence, in the following amounts (indexed to Consumer Price Index in accordance with the Remuneration Regulations):
          NIS 68,505 (approximately $ 18,430 based on the representative NIS/USD exchange rate of NIS 3.717 /$1.00 published by the Bank of Israel on July 25, 2023 (the &#8220;<font style="font-weight: bold;">Exchange Rate</font>&#8221;)) as annual fee, NIS 2,550
          (approximately $ 686, based on the Exchange Rate) as participation fee, per meeting, for an in person participation in meetings of the Board and its committees, NIS 1,530 (approximately $ 412, based on the Exchange Rate) as participation fee, per
          meeting, for participation in meetings of the Board and its committees by electronic means and NIS 1,275 (approximately $ 343, based on the Exchange Rate) for each written resolution.</div>
        <div style="line-height: 1.25; color: rgb(0, 0, 0);">&#160;</div>
        <div style="text-align: justify; line-height: 1.25; color: rgb(0, 0, 0);">The above-mentioned cash compensation is in line with the Compensation Policy.</div>
        <div style="line-height: 1.25; color: rgb(0, 0, 0);">&#160;</div>
        <div style="text-align: justify; line-height: 1.25; color: rgb(0, 0, 0);">As the above-mentioned amounts are within the range between the fixed and maximum amounts set forth in the Remuneration Regulations, as supplemented by the Foreign Listed
          Regulations, they are exempt from shareholder approval, in accordance with the Israeli Companies Regulations (Relief from Related Party Transactions), 2000.</div>
        <div style="line-height: 1.25; color: rgb(0, 0, 0);">&#160;</div>
        <div style="text-align: justify; line-height: 1.25; font-weight: bold; color: rgb(0, 0, 0);"><u>Insurance, Exemption and Indemnification</u></div>
        <div style="line-height: 1.25; color: rgb(0, 0, 0);">&#160;</div>
        <div style="text-align: justify; line-height: 1.25; color: rgb(0, 0, 0);">In addition, if elected, Ms.&#160;Shaham would be covered by any D&amp;O liability insurance in effect as of the date of her election and thereafter purchased by the Company from
          time to time in accordance with the provision of the Compensation Policy. Also, if elected, she would be granted by the Company an exemption and indemnification letter consistent with that provided to other directors of the Company.</div>
        <div style="line-height: 1.25; color: rgb(0, 0, 0);">&#160;</div>
        <div style="text-align: justify; line-height: 1.25; font-weight: bold; color: rgb(0, 0, 0);"><u>Required Vote</u></div>
        <div style="line-height: 1.25; color: rgb(0, 0, 0);">&#160;</div>
        <div style="text-align: justify; line-height: 1.25; color: rgb(0, 0, 0);">An affirmative vote of the holders of a majority of the shares represented at the Meeting, in person or by proxy, and voting thereon, is required for the election of Ms.
          Shaham to our Board, and for the grant of the equity compensation to her.</div>
        <div style="line-height: 1.25; color: rgb(0, 0, 0);">&#160;</div>
        <div style="text-align: justify; line-height: 1.25; font-weight: bold; color: rgb(0, 0, 0);"><u>Proposed Resolution</u></div>
        <div style="line-height: 1.25; color: rgb(0, 0, 0);">&#160;</div>
        <div style="text-align: justify; line-height: 1.25; color: rgb(0, 0, 0);">It is proposed that at the Meeting the following resolution be adopted:</div>
        <div style="line-height: 1.25; color: rgb(0, 0, 0);">&#160;</div>
        <div style="text-align: justify; margin-right: 36pt; margin-left: 36pt; line-height: 1.25; color: rgb(0, 0, 0);">&#8220;<font style="font-weight: bold;">RESOLVED</font>, that Ms. Yael Shaham be, and she hereby is, elected to the Board, for a term of
          approximately one (1) year ending on the date of the Annual General Meeting of Shareholders that will be held in 2024&#8221;.</div>
        <div style="line-height: 1.25; color: rgb(0, 0, 0);">&#160;</div>
        <div style="text-align: justify; line-height: 1.25; font-weight: bold; color: rgb(0, 0, 0);"><u>Board Recommendation</u></div>
        <div style="line-height: 1.25; color: rgb(0, 0, 0);">&#160;</div>
        <div style="text-align: justify; line-height: 1.25; color: rgb(0, 0, 0);">The Board of Directors recommends a vote &#8220;FOR&#8221; approval of the proposed resolution.</div>
        <div style="line-height: 1.25; color: rgb(0, 0, 0);">&#160;</div>
        <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" class="BRPFPageBreakArea">
          <div style="text-align: center;" class="BRPFPageNumberArea"><font style="color: #000000; font-weight: normal; font-style: normal;" class="BRPFPageNumber">8</font></div>
          <div style="page-break-after: always;" class="BRPFPageBreak">
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        </div>
        <div style="text-align: center; line-height: 1.25; font-weight: bold; color: rgb(0, 0, 0);">PROPOSAL 2</div>
        <div style="line-height: 1.25; color: rgb(0, 0, 0);">&#160;</div>
        <div style="line-height: 1.25;">
          <div style="text-align: center; line-height: 1.25; font-weight: bold; color: rgb(0, 0, 0);">APPROVAL OF GRANT OF OPTIONS TO THE COMPANY&#8217;S NON-EXECUTIVE DIRECTORS</div>
          <div style="line-height: 1.25; color: rgb(0, 0, 0);">&#160;</div>
        </div>
        <div style="text-align: justify; line-height: 1.25; font-weight: bold; color: rgb(0, 0, 0);"><u>Background</u></div>
        <div style="line-height: 1.25; color: rgb(0, 0, 0);">&#160;</div>
        <div style="text-align: justify; line-height: 1.25; color: rgb(0, 0, 0);">According to the Companies Law, compensation paid to our directors require, in general, the approval of our Compensation Committee, Board of Directors and shareholders, in
          that order.</div>
        <div style="line-height: 1.25; color: rgb(0, 0, 0);">&#160;</div>
        <div style="text-align: justify; margin-right: 4.5pt; line-height: 1.25; font-weight: bold; color: rgb(0, 0, 0);"><u>General</u></div>
        <div style="line-height: 1.25;">
          <div style="line-height: 1.25; color: rgb(0, 0, 0);">&#160;</div>
          <div style="text-align: justify; line-height: 1.25; color: rgb(0, 0, 0);">In order to attract and retain the best qualified candidates to our Board, and similar to the practice previously set by our shareholders with respect to the remuneration
            of Board members, our Compensation Committee and Board of Directors have approved, and resolved to recommend to our shareholders to approve, the grant of equity awards to each of Mr. Rosen, Ms. Makov, Mr. Liran, Mr. Hadar, Mr. Palti, Mr.
            Ripstein, and Ms. Shaham with respect to their remaining one year term of service as directors, as detailed below, in addition to the cash fees set forth under Item 1 above.</div>
        </div>
        <div style="line-height: 1.25;">
          <div style="line-height: 1.25; color: rgb(0, 0, 0);">&#160;</div>
          <table cellspacing="0" cellpadding="0" class="DSPFListTable" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

              <tr>
                <td style="width: 17.85pt; vertical-align: top; font-size: 12pt; color: rgb(0, 0, 0);">&#8226;</td>
                <td style="width: auto; vertical-align: top;">
                  <div style="color: rgb(0, 0, 0);">
                    <div style="text-align: justify; line-height: 1.25;">To Mr. Rosen, Chairman of the Board of Directors, who was elected to serve as our Chairman of the Board on July 24,
                      2023, following the death of Mr. Zisapel, 43,334 options to purchase 43,334 Ordinary Shares, which shall be granted on the date of the Meeting. The Compensation Committee and Board are of the opinion that it would be appropriate to
                      compensate Mr. Rosen with the grant of an increased number of options in comparison to the number of options granted to the other non-executive members of the Board, taking into account, among others, the considerable amount of time
                      required from him in order to fulfill his Board activities as a Chairman and his contribution to the Company&#8217;s success. The value of the equity grant to Mr. Rosen equals, as of July 25, 2023 is approximately $45,573. Such grant of
                      options is in line with the Compensation Policy, according to which, the Chairman of the Board of Directors of the Company is entitled to receive an annual equity-based compensation of up to 3 times the annual equity-based
                      compensation of the other directors (see below).</div>
                  </div>
                </td>
              </tr>

          </table>
          <div style="line-height: 1.25; color: rgb(0, 0, 0);">&#160;</div>
        </div>
        <div style="line-height: 1.25;">
          <div style="text-align: justify; margin-left: 17.85pt; line-height: 1.25; color: rgb(0, 0, 0);">For the purposes of this Proxy Statement the value of the options is estimated, as of July 25, 2023, and calculated, among other things, based on the
            average closing price of the Company&#8217;s Ordinary Shares on the Nasdaq for the period equal to thirty (30) consecutive trading days prior to July 25, 2023 (approx. $ 2.103 per share).</div>
          <div style="line-height: 1.25; color: rgb(0, 0, 0);">&#160;</div>
          <div style="text-align: justify; margin-left: 17.85pt; line-height: 1.25; color: rgb(0, 0, 0);">In addition, our Compensation Committee and Board determined that due to his duties and responsibilities as the Chairman of the Board of Directors,
            Mr. Rosen shall be entitled to an amount of NIS 145,770 (approximately $ 39,217 based on the Exchange Rate) as annual fee. His participation fees will not be changed and remain equal to those of the other members of the Board of Directors.</div>
          <div style="line-height: 1.25; color: rgb(0, 0, 0);">&#160;</div>
          <div style="text-align: justify; margin-left: 17.85pt; line-height: 1.25; color: rgb(0, 0, 0);">
            <div style="line-height: 1.25;">
              <div style="line-height: 1.25; font-family: 'Times New Roman',Times,serif;">The above-mentioned cash compensation is in line with the Compensation Policy. Further, as the above-mentioned annual
                fee does not exceed the maximum amounts set forth in the Remuneration Regulations, as supplemented by the Foreign Listed Regulations, it is exempted from shareholder approval, in accordance with the Israeli Companies Regulations (Relief
                from Related Party Transactions), 2000.</div>
              <div style="line-height: 1.25">&#160;</div>
            </div>
          </div>
        </div>
        <div style="line-height: 1.25;">
          <table cellspacing="0" cellpadding="0" class="DSPFListTable" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

              <tr>
                <td style="width: 17.85pt; vertical-align: top; font-size: 12pt; color: rgb(0, 0, 0);">&#8226;</td>
                <td style="width: auto; vertical-align: top;">
                  <div style="font-family: 'Times New Roman',Times,serif; text-align: justify; color: rgb(0, 0, 0);">To each of Ms. Makov, Mr. Liran, Mr. Hadar, and Mr. Ripstein, non-executive directors of the Company, 16,666 options to purchase 16,666
                    Ordinary Shares, which shall be granted on the date of the Meeting. The value of the equity grant to each of Ms. Makov, Mr. Liran, Mr. Hadar, and Mr. Ripstein, as of July 25, 2023, is estimated at approximately $17,527. Such grant of
                    options is in line with the Compensation Policy, according to which, each of the Company&#8217;s non-executive directors is entitled to receive equal annual equity-based compensation, which value shall not exceed $150,000 (per annum; also
                    taking into account the options granted to each of Mr. Liran, Mr. Hadar, and Mr. Ripstein at the 2021 AGM, and to Ms. Makov at the 2022 AGM) (collectively, the &#8220;<font style="font-weight: bold;">2023 Equity Grant</font>&#8221;).</div>
                </td>
              </tr>

          </table>
          <div style="line-height: 1.25; color: rgb(0, 0, 0);">&#160;</div>
          <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" class="BRPFPageBreakArea">
            <div style="text-align: center;" class="BRPFPageNumberArea"><font style="color: #000000; font-weight: normal; font-style: normal;" class="BRPFPageNumber">9</font></div>
            <div style="page-break-after: always;" class="BRPFPageBreak">
              <hr noshade="noshade" style="border-width: 0px; clear: both; margin: 4px 0px; width: 100%; height: 2px; color: #000000; background-color: #000000;"></div>
          </div>
          <table cellspacing="0" cellpadding="0" class="DSPFListTable" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

              <tr>
                <td style="width: 17.85pt; vertical-align: top; font-size: 12pt; color: rgb(0, 0, 0);">&#8226;</td>
                <td style="width: auto; vertical-align: top;">
                  <div style="font-family: 'Times New Roman',Times,serif; text-align: justify; color: rgb(0, 0, 0);">To each of Mr. Palti and Ms. Shaham (subject to her election as director), non-executive directors of the Company, 33,333 options to
                    purchase 33,333 Ordinary Shares, which shall be granted on the date of the Meeting. The value of the equity grant to each of Mr. Palti and Ms. Shaham, as of July 25, 2023, is estimated at approximately $35,055. Such grant of options is
                    in line with the Compensation Policy, according to which, each of the Company&#8217;s non-executive directors is entitled to receive equal annual equity-based compensation, which value shall not exceed $150,000 (per annum).</div>
                </td>
              </tr>

          </table>
          <div style="line-height: 1.25; color: rgb(0, 0, 0);">&#160;</div>
        </div>
        <div style="line-height: 1.25;">
          <div style="text-align: justify; margin-left: 17.85pt; line-height: 1.25; color: rgb(0, 0, 0);">
            <div style="line-height: 1.25;">
              <div style="line-height: 1.25; font-family: 'Times New Roman',Times,serif;">The 2021 AGM Proxy Statement stated that Mr. Palti will not be granted with any equity compensation in connection with
                his service as director at least until the end of his notice period relating to the cessation of service as the Company&#8217;s Chief Executive Officer. As his notice period expired on July 2022, he is now eligible to receive equal equity
                consideration as all other non-executive directors; therefore, it is proposed that he will be granted with 33,333 options to purchase 33,333 Ordinary Shares, comprised of one-third of the non-executive directors&#8217; equity grant approved in
                the 2021 AGM (16,667 options to purchase 16,667 Ordinary Shares) which was granted to the non-executive directors on July 12, 2023; the &#8220;<font style="font-weight: bold;">Remaining
                  2021 Grant</font>&#8221;), and the proposed 2023 Equity Grant.</div>
              <div style="line-height: 1.25">&#160;</div>
              <div style="line-height: 1.25;"></div>
            </div>
          </div>
          <div style="text-align: justify; margin-left: 17.85pt; line-height: 1.25; color: rgb(0, 0, 0);">Subject to her election, Ms. Shaham is also entitled to receive equal equity consideration as all other non-executive directors, which is comprised of
            the Remaining 2021 Grant, and the 2023 Equity Grant, i.e. 33,333 options to purchase 33,333 Ordinary Shares in the aggregate.</div>
          <div style="line-height: 1.25; color: rgb(0, 0, 0);">&#160;</div>
        </div>
        <div style="line-height: 1.25;">
          <div style="text-align: justify; line-height: 1.25; color: rgb(0, 0, 0);">If approved by our shareholders, all options granted herein shall vest on the date of the Meeting. The exercise price for the proposed grants shall be equal to the average
            closing price of the Company&#8217;s Shares on the Nasdaq Global Select Market for the period equal to thirty (30) consecutive trading days immediately preceding the date of this Meeting. In addition, subject to an earlier expiry in accordance with
            the terms of the Option Plan (as defined below), the options will expire upon the earlier of (i) six (6) years after the date of this Meeting, or (ii) at such time as the closing price of the Company&#8217;s ordinary shares on Nasdaq falls below
            fifty percent (50%) of the exercise price detailed above and remains in such price or in a lower price for a period of at least 90 days (the &#8220;<font style="font-weight: bold;">Knockout</font>&#8221;), in which case the options shall be cancelled
            automatically.</div>
          <div style="line-height: 1.25; color: rgb(0, 0, 0);">&#160;</div>
          <div style="text-align: justify; line-height: 1.25; color: rgb(0, 0, 0);">These grants will be made under the Company&#8217;s Amended and Restated Share Option and RSU Plan (the &#8220;<font style="font-weight: bold;">Option Plan</font>&#8221;) and under the
            Capital Gains Route of Section 102(b)(2) of the Israeli Income Tax Ordinance (the &#8220;<font style="font-weight: bold;">Ordinance</font>&#8221;).</div>
        </div>
        <div style="line-height: 1.25; color: rgb(0, 0, 0);">&#160;</div>
        <div style="text-align: justify; line-height: 1.25; color: rgb(0, 0, 0);">
          <div style="line-height: 1.25;">The proposed value of the equity awards detailed above were examined and evaluated by our Compensation Committee and Board in
            accordance with a peer group study; the peer group study is a compensation and benefit survey, which included peer companies selected to provide an appropriate comparative model, based on appropriate similarities taking into account a number of
            factors, including: market capitalization, type of industry, location of listing of securities, level of revenues, number of employees, geographical considerations and other factors that are considered relevant for comparison. Following due
            consideration of the type and value of the equity awards, as well as the full compensation packages, granted to directors serving in companies included in the study, our Compensation Committee and Board have determined that the value of the
            total compensation paid to our directors, including the value of the proposed equity awards, is below the median range of total director compensation provided by our peer companies.</div>
          <div style="line-height: 1.25">&#160;</div>
        </div>
        <div style="text-align: justify; line-height: 1.25; color: rgb(0, 0, 0);">
          <div style="line-height: 1.25;">When considering the proposed equity awards, our Compensation Committee and Board analyzed all factors and considerations required
            under our Compensation Policy and the Companies Law, including, <font style="font-style: italic;">inter alia</font>, the responsibilities and duties of our directors,&#160;the estimation of their expected contribution and the importance of our directors to the future growth and success of the Company. Our Compensation Committee and
            Board of Directors believe that the equity awards detailed above are in the best interests of the Company, as: (i) the Company competes on qualified individuals to serve on its Board, and therefore needs to provide them with an adequate
            compensation package, which is aligned with the common practice implemented by our peers; (ii) the equity awards detailed above aligns the interests of our directors with those of our shareholders; (iii) the equity awards detailed above will
            provide, together with the cash compensation and existing equity (as applicable), an adequate recognition for the time, attention and expertise required by our directors; and (iv) the equity awards detailed above have a long term incentive
            value, while taking into account the interests of the Company&#8217;s shareholders and their dilution level. In this respect, our Compensation Committee and Board remain committed to maintaining low levels of dilution, below the 10% threshold
            recommended by the ISS (Institutional Shareholder Services) in its Israeli Proxy Voting Guidelines, with respect to any proposed, including under this Proxy Statement, and/or outstanding equity-based compensation plans (currently at
            approximately 9.97%).</div>
        </div>
        <div style="line-height: 1.25; color: rgb(0, 0, 0);">&#160;</div>
        <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" class="BRPFPageBreakArea">
          <div style="text-align: center;" class="BRPFPageNumberArea"><font style="color: #000000; font-weight: normal; font-style: normal;" class="BRPFPageNumber">10</font></div>
          <div style="page-break-after: always;" class="BRPFPageBreak">
            <hr noshade="noshade" style="border-width: 0px; clear: both; margin: 4px 0px; width: 100%; height: 2px; color: #000000; background-color: #000000;"></div>
        </div>
        <div style="text-align: justify; margin-right: 4.5pt; line-height: 1.25; font-weight: bold; color: rgb(0, 0, 0);"><u>Required Vote</u></div>
        <div style="line-height: 1.25; color: rgb(0, 0, 0);">&#160;</div>
        <div style="text-align: justify; line-height: 1.25; color: rgb(0, 0, 0);">An affirmative vote of the holders of a majority of the shares represented at the Meeting, in person or by proxy, and voting thereon, is required for the grant of options to
          each of our non-executive directors, as detailed above.</div>
        <div style="line-height: 1.25; color: rgb(0, 0, 0);">&#160;</div>
        <div style="text-align: justify; line-height: 1.25; font-weight: bold; color: rgb(0, 0, 0);"><u>Proposed Resolution</u></div>
        <div style="line-height: 1.25;">
          <div style="line-height: 1.25; color: rgb(0, 0, 0);">&#160;</div>
          <div style="text-align: justify; line-height: 1.25; color: rgb(0, 0, 0);">It is proposed that at the Meeting the following resolutions be adopted:</div>
        </div>
        <div style="line-height: 1.25; color: rgb(0, 0, 0);">&#160;</div>
        <div style="text-align: justify; line-height: 1.25; color: rgb(0, 0, 0);">&#8220;<font style="font-weight: bold;">RESOLVED</font>, to approve the grant of 43,334 options to purchase 43,334 Ordinary Shares to Mr. Ilan Rosen, Chairman of the Board of
          Directors, in the amounts and upon terms as described in this Item 2;</div>
        <div style="line-height: 1.25; color: rgb(0, 0, 0);">&#160;</div>
        <div style="text-align: justify; line-height: 1.25;"><font style="font-weight: bold; color: rgb(0, 0, 0);">FURTHER RESOLVED</font><font style="color: rgb(0, 0, 0);">, to approve the grant of 33,333 options to purchase 33,333 Ordinary Shares options
            to each of Mr. Palti and Ms. Shaham, the Company&#8217;s non-executive directors, in the amounts and upon terms as described in this Item 2; and</font></div>
        <div style="line-height: 1.25; color: rgb(0, 0, 0);">&#160;</div>
        <div style="text-align: justify; line-height: 1.25;"><font style="font-weight: bold; color: rgb(0, 0, 0);">FURTHER RESOLVED</font><font style="color: rgb(0, 0, 0);">, to approve the grant of 16,666 options to purchase 16,666 Ordinary Shares options
            to each of the other Company&#8217;s non-executive directors, namely, Ms. Makov, Mr. Liran, Mr. Hadar, and Mr. Ripstein, in the amounts and upon terms as described in this Item 2&#8221;.</font></div>
        <div style="line-height: 1.25;">
          <div style="line-height: 1.25; color: rgb(0, 0, 0);">&#160;</div>
          <div style="text-align: justify; line-height: 1.25; font-weight: bold; color: rgb(0, 0, 0);">The Board of Directors recommends a vote &#8220;FOR&#8221; approval of the proposed resolutions.</div>
          <div style="line-height: 1.25; color: rgb(0, 0, 0);">&#160;</div>
        </div>
        <div style="text-align: justify; line-height: 1.25; font-style: italic; font-weight: bold; color: rgb(0, 0, 0);">
          <div style="line-height: 1.25; font-style: italic; font-weight: bold;">As all members of the Board of Directors have a personal interest in the foregoing proposed
            resolution, as it relates to them personally, they each refrained from making a recommendation with respect to the applicable resolution relevant to them.</div>
          <div style="line-height: 1.25">&#160;</div>
        </div>
        <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" class="BRPFPageBreakArea">
          <div style="text-align: center;" class="BRPFPageNumberArea"><font style="color: #000000; font-weight: normal; font-style: normal;" class="BRPFPageNumber">11</font></div>
          <div style="page-break-after: always;" class="BRPFPageBreak">
            <hr noshade="noshade" style="border-width: 0px; clear: both; margin: 4px 0px; width: 100%; height: 2px; color: #000000; background-color: #000000;"></div>
        </div>
        <div style="text-align: center; line-height: 1.25; font-weight: bold; color: rgb(0, 0, 0);">PROPOSAL 3</div>
        <div style="line-height: 1.25; color: rgb(0, 0, 0);">&#160;</div>
        <div style="text-align: center; line-height: 1.25; font-weight: bold; color: rgb(0, 0, 0);">APPROVAL OF RENEWAL OF THE COMPANY&#8217;S EXECUTIVES &amp; DIRECTORS</div>
        <div style="text-align: center; line-height: 1.25; font-weight: bold; color: rgb(0, 0, 0);"> COMPENSATION POLICY AND AN AMENDMENT THEREOF</div>
        <div style="line-height: 1.25;"><font style="color: rgb(0, 0, 0);"><br style="line-height: 1.25;">
          </font> </div>
        <div style="text-align: justify; line-height: 1.25; color: rgb(0, 0, 0);"><u>Background</u></div>
        <div style="line-height: 1.25;"><font style="color: rgb(0, 0, 0);"><br style="line-height: 1.25;">
          </font> </div>
        <div style="text-align: justify; line-height: 1.25; color: rgb(0, 0, 0);">On September 12, 2013, our shareholders, following the recommendation of the Compensation Committee and the Board of Directors, approved the adoption of an Executives &amp;
          Directors Compensation Policy (constituting the Compensation Policy), which provides a framework for terms of office and employment of our Office Holders, including base salaries, cash bonuses, equity awards, severance and other benefits, the
          grant of an exemption from liability, insurance and an undertaking to indemnify or indemnification.</div>
        <div style="line-height: 1.25;"><font style="color: rgb(0, 0, 0);"><br style="line-height: 1.25;">
          </font> </div>
        <div style="text-align: justify; line-height: 1.25;"><font style="color: rgb(0, 0, 0);">Under the Companies Law, our Compensation Policy must be reviewed from time to time by the Compensation Committee and the Board of Directors, in order to
            consider its adequacy, and propose amendments to the extent it finds that the Compensation Policy is inadequate or should otherwise be amended. In addition, the Compensation Policy must be reapproved by the Compensation Committee, Board of
            Directors and shareholders of the Company at least every three years. Our Compensation Policy was last approved by our shareholders on July 20, 2020 and therefore expired on July 19, 2023 and requires renewal for an additional three-year
            period.</font></div>
        <div style="line-height: 1.25;"><font style="color: rgb(0, 0, 0);"><br style="line-height: 1.25;">
          </font> </div>
        <div style="text-align: justify; line-height: 1.25; color: rgb(0, 0, 0);"><u>General</u></div>
        <div style="line-height: 1.25;"><font style="color: rgb(0, 0, 0);"><br style="line-height: 1.25;">
          </font> </div>
        <div style="text-align: justify; margin-right: 4.5pt; line-height: 1.25; font-style: italic; color: rgb(0, 0, 0);">Insurance Framework</div>
        <div style="line-height: 1.25; color: rgb(0, 0, 0);">&#160;</div>
        <div style="text-align: justify; line-height: 1.25; color: rgb(0, 0, 0);">In connection with the D&amp;O insurance, historically, the Israeli Securities Authority (&#8220;<font style="font-weight: bold;">ISA</font>&#8221;) determined that the compensation
          policy of a company must include, among other things, reference to the premium, limits of liability and deductible. However, in mid-2020, the ISA has re-examined its position, considering the unique characteristics of the D&amp;O insurance market
          and the external changes that have taken place over the recent years in the insurance market. Following such examination, the ISA resolved to waive the demand that the compensation policy would include, when addressing D&amp;O insurance matters,
          a limitation on the premium paid for such D&amp;O insurance policy, and, if applicable, the deductible amounts under such policy, provided that the same are in line with market conditions at the time the policy is adopted.</div>
        <div style="line-height: 1.25;"><font style="color: rgb(0, 0, 0);"><br style="line-height: 1.25;">
          </font> </div>
        <div style="text-align: justify; line-height: 1.25;"><font style="color: rgb(0, 0, 0);">Accordingly, we propose to amend Part IV (Indemnification, Insurance and Exemption) of the Compensation Policy, to provide that the annual premiums and
            deductibles of the Company&#8217;s directors and officers insurance policy shall be determined according to the conditions of the insurance market, and provided that such annual premiums and deductibles are not material to the Company, at the time
            each policy is adopted.</font></div>
        <div style="line-height: 1.25;"><font style="color: rgb(0, 0, 0);"><br style="line-height: 1.25;">
          </font> </div>
        <div style="text-align: justify; margin-right: 4.5pt; line-height: 1.25; font-style: italic; color: rgb(0, 0, 0);">Clawback</div>
        <div style="line-height: 1.25; color: rgb(0, 0, 0);">&#160;</div>
        <div style="text-align: justify; margin-right: 4.5pt; line-height: 1.25; color: rgb(0, 0, 0);">On June 9, 2023, the SEC approved the Nasdaq&#8217;s newly proposed clawback listing standards pursuant to Rule 10D-1 under the Securities and Exchange Act of
          1934, as amended (the &#8220;<font style="font-weight: bold;">Clawback Listing Rules</font>&#8221;). We propose to amend Part II (Executive Compensation, Section 9 (Clawback Policy)) of the Compensation Policy, to provide that the Company intends to adopt
          and comply with a &#8220;clawback policy&#8221; (the &#8220;<font style="font-weight: bold;">Clawback Policy</font>&#8221;), as contemplated pursuant to the Clawback Listing Rules.&#160; To the extent there will be any inconsistencies between the Compensation Policy and the
          Clawback Policy to be adopted by the Company, the latter shall take precedence, and, for the avoidance of any doubt, no amendments to, or further corporate approvals in connection with, the Compensation Policy, will be required in connection with
          the adoption of the Clawback Policy.</div>
        <div style="line-height: 1.25;"><font style="color: rgb(0, 0, 0);"><br style="line-height: 1.25;">
          </font> </div>
        <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" class="BRPFPageBreakArea">
          <div style="text-align: center;" class="BRPFPageNumberArea"><font style="color: #000000; font-weight: normal; font-style: normal;" class="BRPFPageNumber">12</font></div>
          <div style="page-break-after: always;" class="BRPFPageBreak">
            <hr noshade="noshade" style="border-width: 0px; clear: both; margin: 4px 0px; width: 100%; height: 2px; color: #000000; background-color: #000000;"></div>
        </div>
        <div style="text-align: justify; line-height: 1.25; color: rgb(0, 0, 0);">Our Compensation Committee and Board believe that these amendments are in the Company's best interests and are appropriate and suitable. Our Compensation Committee and Board
          of Directors have approved the amendment to Part IV (Indemnification, Insurance and Exemption) of the Compensation Policy and deem it required in order to allow the Company more flexibility in providing its Office Holders, to the extent permitted
          by applicable law, with adequate coverage under D&amp;O insurance policies, which include premiums that are in line with current market practice for comparable companies. Our Compensation Committee and Board of Directors have approved the
          amendment to Part II (Executive Compensation, Section 9 (Clawback Policy)) of the Compensation Policy in order to address Nasdaq&#8217;s Clawback Listing Rules.</div>
        <div style="line-height: 1.25;"><font style="color: rgb(0, 0, 0);"><br style="line-height: 1.25;">
          </font> </div>
        <div style="text-align: justify; line-height: 1.25; color: rgb(0, 0, 0);">Further, our Compensation Committee and Board believe that the proposed amendments are customary compensation mechanisms, are appropriate and in-line with prevailing market
          practice. They also align Executives&#8217; long-term interests with those of the Company and its shareholders and provide the Company with the ability to competitively attract and retain highly qualified Executives, who are essential to the Company&#8217;s
          ongoing growth and success, while maintaining adequate balance with other interests of the Company and its shareholders. In their review and approval of the proposed amendments to the Compensation Policy, our Compensation Committee and Board of
          Directors also took into account, among others, the considerations, principles and provisions set forth in the Companies Law. When considering the proposed amendments, our Compensation Committee and Board considered additional factors, such as
          the advancement of the Company&#8217;s objectives, the Company&#8217;s business plan and long-term strategy and creation of appropriate incentives for executive officers and directors, the Company&#8217;s risk management, size and the nature of its operations, and
          reviewed other empirical data and information they deemed relevant.</div>
        <div style="line-height: 1.25;"><font style="color: rgb(0, 0, 0);"><br style="line-height: 1.25;">
          </font> </div>
        <div style="text-align: justify; line-height: 1.25; color: rgb(0, 0, 0);">The proposed amendments to the Compensation Policy, for which we now seek shareholder approval, are marked in the revised version of the Compensation Policy attached to this
          Proxy Statement as <font style="font-weight: bold;"><u>Exhibit A</u></font> (the &#8220;<font style="font-weight: bold;">Amended Policy</font>&#8221;). Other than the foregoing changes in the insurance framework and in the clawback provision, all other
          terms of the Compensation Policy remain unchanged.</div>
        <div style="text-align: justify; line-height: 1.25;"><font style="color: rgb(0, 0, 0);"><br style="line-height: 1.25;">
          </font> </div>
        <div style="text-align: justify; line-height: 1.25; font-weight: bold; color: rgb(0, 0, 0);"><u>Required Vote</u></div>
        <div style="line-height: 1.25;"><font style="color: rgb(0, 0, 0);"><br style="line-height: 1.25;">
          </font> </div>
        <div style="text-align: justify; line-height: 1.25; color: rgb(0, 0, 0);">The affirmative vote of the holders of a majority of the Ordinary Shares represented and voting at the Meeting in person or by proxy and voting on the matter, is required for
          the approval of the Amended Policy; provided that a Disinterested Majority of the shares voted in favor of this proposal.</div>
        <div style="line-height: 1.25;"><font style="color: rgb(0, 0, 0);"><br style="line-height: 1.25;">
          </font> </div>
        <div style="text-align: justify; line-height: 1.25; color: rgb(0, 0, 0);">The Companies Law requires that each shareholder voting on a proposed resolution requiring a Disinterested Majority indicate whether or not he or she is a controlling
          shareholder or has a personal interest in the proposed resolutions. Under the Companies Law, in general, a person will be deemed to be a &#8220;controlling shareholder&#8221; if that person has the power to direct the activities of the company, other than by
          reason of serving as a director or other office holder of the company, and a person is deemed to have a &#8220;personal interest&#8221; if he/she or any member of the shareholder&#8217;s immediate family, or the immediate family of a shareholder&#8217;s spouse, has a
          personal interest in the adoption of the proposal. In addition, you are deemed to have a &#8220;personal interest&#8221; if a company, other than Ceragon, that is affiliated with you, has a personal interest in the adoption of the proposal. Such company is a
          company in which you or a member of your immediate family serves as a director or chief executive officer, has the right to appoint a director or the chief executive officer, or owns 5% or more of the outstanding shares. However, you are not
          deemed to have a personal interest in the adoption of the proposal if your interest in such proposal arises solely from your ownership of our shares.</div>
        <div style="line-height: 1.25; color: rgb(0, 0, 0);">&#160;</div>
        <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" class="BRPFPageBreakArea">
          <div style="text-align: center;" class="BRPFPageNumberArea"><font style="color: #000000; font-weight: normal; font-style: normal;" class="BRPFPageNumber">13</font></div>
          <div style="page-break-after: always;" class="BRPFPageBreak">
            <hr noshade="noshade" style="border-width: 0px; clear: both; margin: 4px 0px; width: 100%; height: 2px; color: #000000; background-color: #000000;"></div>
        </div>
        <div style="text-align: justify; line-height: 1.25; color: rgb(0, 0, 0);">The term &#8220;immediate family&#8221; means a spouse, sibling, parent, grandparent and child, and child, sibling or parent of a spouse or the spouse of any of the foregoing. If you do
          not have a personal interest in this matter, you may assume that using the form of proxy enclosed herewith will not create a personal interest. To avoid confusion, in the form of proxy card, we refer to such a personal interest as a &#8220;personal
          benefit or other interest&#8221;.</div>
        <div style="line-height: 1.25;"><font style="color: rgb(0, 0, 0);"><br style="line-height: 1.25;">
          </font> </div>
        <div style="text-align: justify; line-height: 1.25;"><font style="font-weight: bold; color: rgb(0, 0, 0);">Please note that we consider it highly unlikely that any of our shareholders is a controlling shareholder or has a personal interest in this
            proposal</font><font style="color: rgb(0, 0, 0);">. However, as required under Israeli law, the enclosed form of proxy requires that you specifically indicate whether you are, or are not, a controlling shareholder or have a personal interest in
            this proposal. Without indicating to this effect &#8211; we will not be able to count your vote with respect to the Disinterested Majority vote required for the approval of this proposal.</font></div>
        <div style="line-height: 1.25; color: rgb(0, 0, 0);">&#160;</div>
        <div style="text-align: justify; line-height: 1.25; font-weight: bold; color: rgb(0, 0, 0);"><u>Proposed Resolution</u></div>
        <div style="line-height: 1.25; color: rgb(0, 0, 0);">&#160;</div>
        <div style="text-align: justify; line-height: 1.25; color: rgb(0, 0, 0);">It is proposed that at the Meeting the following resolution be adopted:</div>
        <div style="line-height: 1.25; color: rgb(0, 0, 0);">&#160;</div>
        <div style="line-height: 1.25; color: rgb(0, 0, 0);">&#8220;<font style="font-weight: bold;">RESOLVED</font>, that the Amended Policy, in the form attached as <font style="font-weight: bold;"><u>Exhibit A</u></font> to this Proxy Statement for the 2023
          Annual General Meeting of Shareholders, be, and it hereby is, approved<font style="font-style: italic;">&#160;</font>for a term of three (3) years as of the date of this Meeting.&#8221;</div>
        <div style="line-height: 1.25; color: rgb(0, 0, 0);">&#160;</div>
        <div style="text-align: justify; line-height: 1.25; font-weight: bold; color: rgb(0, 0, 0);"><u>Board Recommendation</u></div>
        <div style="line-height: 1.25; color: rgb(0, 0, 0);">&#160;</div>
        <div style="text-align: justify; line-height: 1.25; font-weight: bold; color: rgb(0, 0, 0);">The Board of Directors recommends a vote &#8220;FOR&#8221; approval of the proposed resolution.</div>
        <div style="line-height: 1.25;"><font style="color: rgb(0, 0, 0);"><br style="line-height: 1.25;">
          </font> </div>
        <div style="text-align: justify; line-height: 1.25; font-style: italic; color: rgb(0, 0, 0);">As all Board members have personal interest in the proposed resolution, they were all entitled to participate and vote on said resolution at the Board
          meeting.</div>
        <div style="text-align: justify; line-height: 1.25; font-style: italic;"> <font style="color: rgb(0, 0, 0);"><br>
          </font> </div>
        <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" class="BRPFPageBreakArea">
          <div style="text-align: center;" class="BRPFPageNumberArea"><font style="color: #000000; font-weight: normal; font-style: normal;" class="BRPFPageNumber">14</font></div>
          <div style="page-break-after: always;" class="BRPFPageBreak">
            <hr noshade="noshade" style="border-width: 0px; clear: both; margin: 4px 0px; width: 100%; height: 2px; color: #000000; background-color: #000000;"></div>
        </div>
        <div style="text-align: center; line-height: 1.25; font-weight: bold; color: rgb(0, 0, 0);">PROPOSAL 4</div>
        <div style="line-height: 1.25; color: rgb(0, 0, 0);">&#160;</div>
        <div style="text-align: center; line-height: 1.25; font-weight: bold; color: rgb(0, 0, 0);">APPROVAL OF CERTAIN COMPENSATION TERMS FOR THE COMPANY&#8217;S CHIEF</div>
        <div style="text-align: center; line-height: 1.25; font-weight: bold; color: rgb(0, 0, 0);"> EXECUTIVE OFFICER: AN ANNUAL CASH BONUS PLAN AND EQUITY GRANT FOR 2023</div>
        <div style="line-height: 1.25; color: rgb(0, 0, 0);">&#160;</div>
        <div style="text-align: justify; line-height: 1.25; font-weight: bold; color: rgb(0, 0, 0);"><u>Background</u></div>
        <div style="line-height: 1.25; color: rgb(0, 0, 0);">&#160;</div>
        <div style="line-height: 1.25;">
          <div style="text-align: justify; line-height: 1.25; color: rgb(0, 0, 0);">Under the Companies Law, arrangements regarding the compensation of a chief executive officer (&#8220;<font style="font-weight: bold;">CEO</font>&#8221;) of a publicly traded company
            should generally be consistent with such Company&#8217;s compensation policy and require the prior approval of the company&#8217;s compensation committee, board of directors and shareholders (provided that, the majority of the shares voted in favor of this
            proposal are not held by &#8220;controlling shareholders&#8221; or shareholders with &#8220;personal interest&#8221; in the approval of such proposal, as detailed in Proposal 3 above), in that order.</div>
          <div style="line-height: 1.25; color: rgb(0, 0, 0);">&#160;</div>
          <div style="text-align: justify; line-height: 1.25; color: rgb(0, 0, 0);">Under his existing employment agreement, our CEO, Mr. Doron Arazi, is entitled to a gross annual base salary of NIS 1,080,000 (approximately $290,557, based on the Exchange
            Rate), plus customary fringe&#160;benefits which include, among others, managers&#8217; insurance, education fund, car expenses, long-term disability and life insurance (collectively, &#8220;<font style="font-weight: bold;">Base Salary</font>&#8221;). In addition,
            Mr. Arazi is entitled to a performance-based annual cash bonus and to an annual equity grant.</div>
        </div>
        <div style="line-height: 1.25; color: rgb(0, 0, 0);">&#160;</div>
        <div style="text-align: justify; margin-right: 4.5pt; line-height: 1.25; color: rgb(0, 0, 0);">The Base Salary of Mr. Arazi was last approved by our shareholders at the 2021 AGM. Other compensation terms of Mr. Arazi were last approved by our
          shareholders at the 2022 AGM.</div>
        <div style="line-height: 1.25; color: rgb(0, 0, 0);">&#160;</div>
        <div style="text-align: justify; margin-right: 4.5pt; line-height: 1.25; color: rgb(0, 0, 0);">Following the approval of our Compensation Committee and Board of Directors, we now seek our shareholders&#8217; approval for Mr. Arazi&#8217;s compensation terms
          (except for the Base Salary), for his services as our CEO, all as detailed below.</div>
        <div style="line-height: 1.25; color: rgb(0, 0, 0);">&#160;</div>
        <div style="text-align: justify; line-height: 1.25; font-weight: bold; color: rgb(0, 0, 0);"><u>Proposed Compensation Terms</u></div>
        <div style="line-height: 1.25; color: rgb(0, 0, 0);">&#160;</div>
        <div style="margin-right: 3.25pt; line-height: 1.25; font-weight: bold; color: rgb(0, 0, 0);">2023 Cash Bonus Plan</div>
        <div style="line-height: 1.25; color: rgb(0, 0, 0);">&#160;</div>
        <div style="line-height: 1.25;">
          <div style="text-align: justify; line-height: 1.25; color: rgb(0, 0, 0);">Consistent with the Compensation Policy, and subject to the limitations set forth therein, the Company may determine, with respect to each year, the target and maximum
            annual cash bonuses, as well as related objectives and related weights, applicable thresholds and the formula for calculating the annual cash bonus payment to be granted to our CEO.</div>
          <div style="line-height: 1.25; color: rgb(0, 0, 0);">&#160;</div>
          <div style="text-align: justify; line-height: 1.25; color: rgb(0, 0, 0);">Taking into account numerous factors, including the provisions of the Compensation Policy and other relevant information and materials presented to them, our Compensation
            Committee and Board of Directors have resolved, and are recommending that the shareholders approve, the following annual bonus plan for calendar year 2023 for our CEO, including the following related objectives, parameters, weights and terms,
            calculated in accordance with the following principles (altogether, the &#8220;<font style="font-weight: bold;">CEO Cash Bonus Plan</font>&#8221;):</div>
          <div style="line-height: 1.25;"><font style="color: rgb(0, 0, 0);"><br style="line-height: 1.25;">
            </font> </div>
        </div>
        <div style="line-height: 1.25;">
          <table cellspacing="0" cellpadding="0" class="DSPFListTable" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

              <tr>
                <td style="width: 18pt;"><font style="color: rgb(0, 0, 0);"><br>
                  </font> </td>
                <td style="width: 18pt; vertical-align: top; color: rgb(0, 0, 0);">&#8226;</td>
                <td style="width: auto; vertical-align: top;">
                  <div style="font-family: 'Times New Roman',Times,serif; text-align: justify; color: rgb(0, 0, 0);">According to the CEO Cash Bonus Plan the &#8220;On-Target&#8221; bonus amount for the year 2023 it will be equal to eight (8) months&#8217; base salary (the
                    &#8220;<font style="font-weight: bold;">On-Target Bonus</font>&#8221;).</div>
                </td>
              </tr>

          </table>
          <div style="line-height: 1.25;"><font style="color: rgb(0, 0, 0);"><br style="line-height: 1.25;">
            </font> </div>
        </div>
        <table cellspacing="0" cellpadding="0" class="DSPFListTable" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

            <tr>
              <td style="width: 18pt;"><font style="color: rgb(0, 0, 0);"><br>
                </font> </td>
              <td style="width: 18pt; vertical-align: top; color: rgb(0, 0, 0);">&#8226;</td>
              <td style="width: auto; vertical-align: top;">
                <div style="font-family: 'Times New Roman',Times,serif; text-align: justify; color: rgb(0, 0, 0);">Financial Measurable Targets: Eighty percent (80%) of the targets forming part of the CEO Cash Bonus Plan will be measurable targets and will
                  include financial measurable targets (the &#8220;<font style="font-weight: bold;">Financial Measurable Targets</font>&#8221;). The proposed Financial Measurable Targets shall be as follows: seventy percent (70%) of the 2023 On Target Bonus shall be
                  based on the Company&#8217;s non-GAAP operating profit targets, and ten percent (10%) of the 2023 On Target Bonus shall be based on the Company&#8217;s cash flow targets, both to be determined based on the Company&#8217;s financial results for the year
                  2023. These two targets were determined based on the Company&#8217;s 2023 annual business targets at the beginning of 2023, together with the targets determined for the annual bonus plans of the entire Company&#8217;s management.&#160;</div>
              </td>
            </tr>

        </table>
        <div style="line-height: 1.25; color: rgb(0, 0, 0);">&#160;</div>
        <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" class="BRPFPageBreakArea">
          <div style="text-align: center;" class="BRPFPageNumberArea"><font style="color: #000000; font-weight: normal; font-style: normal;" class="BRPFPageNumber">15</font></div>
          <div style="page-break-after: always;" class="BRPFPageBreak">
            <hr noshade="noshade" style="border-width: 0px; clear: both; margin: 4px 0px; width: 100%; height: 2px; color: #000000; background-color: #000000;"></div>
        </div>
        <table cellspacing="0" cellpadding="0" class="DSPFListTable" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

            <tr>
              <td style="width: 18pt;"><font style="color: rgb(0, 0, 0);"><br>
                </font> </td>
              <td style="width: 18pt; vertical-align: top; color: rgb(0, 0, 0);">&#8226;</td>
              <td style="width: auto; vertical-align: top;">
                <div style="font-family: 'Times New Roman',Times,serif; text-align: justify; color: rgb(0, 0, 0);">Non-Measurable Criteria: twenty percent (20%) of the targets forming part of the CEO Cash Bonus Plan will be non-measurable criteria, which
                  shall be concluded by assessing the CEO performance during the year, his contribution to the achievement of the Company's goals, and his evaluation by the Board of Directors.</div>
              </td>
            </tr>

        </table>
        <div style="line-height: 1.25; color: rgb(0, 0, 0);">&#160;</div>
        <div style="margin-right: 4.5pt; line-height: 1.25; color: rgb(0, 0, 0);"><u>General Terms</u></div>
        <div style="line-height: 1.25; color: rgb(0, 0, 0);">&#160;</div>
        <div style="text-align: justify; line-height: 1.25; color: rgb(0, 0, 0);">Our Compensation Committee and Board of Directors have set a minimum threshold score with respect to each of the Financial Measurable Targets, so that below a certain level
          of achievement, payment will not be made with respect to such Measurable Target, as well as a general plan threshold which is based on the achievement of a pre-determined measurable financial criteria, under which no annual cash bonus shall be
          paid to our CEO.</div>
        <div style="line-height: 1.25; color: rgb(0, 0, 0);">&#160;</div>
        <div style="text-align: justify; line-height: 1.25; color: rgb(0, 0, 0);">Further, our Compensation Committee and Board of Directors have resolved that the maximum annual bonus payment to our CEO will be capped at 200% of his On Target Bonus (the &#8220;<font style="font-weight: bold;">Maximum Payment Cap</font>&#8221;), which cap is in compliance with the Compensation Policy. Reaching the Maximum Payment Cap, in the opinion of the Compensation Committee and Board of Directors, is an extremely challenging
          task.</div>
        <div style="line-height: 1.25; color: rgb(0, 0, 0);">&#160;</div>
        <div style="text-align: justify; line-height: 1.25; color: rgb(0, 0, 0);">Subject to receipt of shareholders&#8217; approval of the above annual cash bonus for 2023 for Mr. Arazi (including the related objectives, weights and terms thereof), the
          Compensation Committee and the Board of Directors will determine, following their approval of the 2023 Company&#8217;s audited financial statements, and without the need for further shareholder approval, the actual bonus to be paid with respect to 2023
          to Mr. Arazi, if any.</div>
        <div style="line-height: 1.25; color: rgb(0, 0, 0);">&#160;</div>
        <div style="text-align: justify; line-height: 1.25; font-weight: bold; color: rgb(0, 0, 0);">2023 Equity Grant</div>
        <div style="line-height: 1.25; color: rgb(0, 0, 0);">&#160;</div>
        <div style="text-align: justify; line-height: 1.25; color: rgb(0, 0, 0);">The 2023 annual CEO equity grant is comprised of (a) 125,000 options with a fair market value exercise price to purchase 131,458 Ordinary Shares (the &#8220;<font style="font-weight: bold;">Options</font>&#8221;), the value of which is estimated, as of July 25, 2023, and calculated based on the average closing price of the Company&#8217;s Ordinary Shares on the Nasdaq for the period equal to thirty (30) consecutive
          trading days prior to July 25, 2023, at approximately $2.103; and (b) 87,500&#160; restricted share units (the &#8220;<font style="font-weight: bold;">RSUs</font>&#8221; and together with the Options the &#8220;<font style="font-weight: bold;">Annual CEO Equity Grant</font>&#8221;),


          the value of which is estimated, as of July 25, 2023, at approximately $ 184,042. The values may vary from the actual values of the proposed equity grant, which is calculated, among other things, based on the average closing price of the
          Company&#8217;s Ordinary Shares on the Nasdaq for the period equal to thirty (30) consecutive trading days prior to the date of this Proxy Statement and with respect to the RSUs, based on the last closing price of the Company&#8217;s Ordinary Shares on the
          Nasdaq prior to the date of this notice. Taking into consideration the Annual CEO Equity Grant, the Company maintains a dilution level which is below the 10% dilution threshold.</div>
        <div style="line-height: 1.25;">
          <div style="line-height: 1.25; color: rgb(0, 0, 0);">&#160;</div>
          <div style="text-align: justify; margin-right: 4.5pt; line-height: 1.25; color: rgb(0, 0, 0);">The total value of the Annual CEO Equity Grant is estimated as $315,500, constituting approximately 108.58% of our CEO&#8217;s annual base salary; such value
            is in line with the provisions of our Compensation Policy and is within the median range of the benchmark reviewed by the Board of Directors, which consists of comparable companies. The additional terms under which the Annual CEO Equity Grant
            shall be provided are as follows:</div>
        </div>
        <div style="line-height: 1.25; color: rgb(0, 0, 0);">&#160;</div>
        <table cellspacing="0" cellpadding="0" class="DSPFListTable" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

            <tr>
              <td style="width: 21.3pt; vertical-align: top; font-size: 12pt; color: rgb(0, 0, 0);">&#8226;</td>
              <td style="width: auto; vertical-align: top;">
                <div style="font-family: 'Times New Roman',Times,serif; text-align: justify; color: rgb(0, 0, 0);">The Annual CEO Equity Grant shall be granted on the date of this Meeting (the &#8220;<font style="font-weight: bold;">Grant Date</font>&#8221;);</div>
              </td>
            </tr>

        </table>
        <div style="line-height: 1.25; color: rgb(0, 0, 0);">&#160;</div>
        <table cellspacing="0" cellpadding="0" class="DSPFListTable" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

            <tr>
              <td style="width: 21.3pt; vertical-align: top; font-size: 12pt; color: rgb(0, 0, 0);">&#8226;</td>
              <td style="width: auto; vertical-align: top;">
                <div style="font-family: 'Times New Roman',Times,serif; text-align: justify; color: rgb(0, 0, 0);">The exercise price of any Options under the Annual CEO Equity Grant shall be equal to the average closing price of the Company&#8217;s Shares on
                  the Nasdaq for the period equal to thirty (30) consecutive trading days immediately preceding the Grant Date;</div>
              </td>
            </tr>

        </table>
        <div style="line-height: 1.25; color: rgb(0, 0, 0);">&#160;</div>
        <table cellspacing="0" cellpadding="0" class="DSPFListTable" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

            <tr>
              <td style="width: 21.3pt; vertical-align: top; font-size: 12pt; color: rgb(0, 0, 0);">&#8226;</td>
              <td style="width: auto; vertical-align: top;">
                <div style="font-family: 'Times New Roman',Times,serif; text-align: justify; color: rgb(0, 0, 0);">The Annual CEO Equity Grant shall vest over a period of four (4) years, in four (4) equal tranches following the Grant Date, with a one-year
                  cliff, so that on each anniversary of the Grant Date, 25% of the total grant shall vest (subject to acceleration of vesting in the circumstances detailed below); and</div>
              </td>
            </tr>

        </table>
        <div style="line-height: 1.25; color: rgb(0, 0, 0);">&#160;</div>
        <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" class="BRPFPageBreakArea">
          <div style="text-align: center;" class="BRPFPageNumberArea"><font style="color: #000000; font-weight: normal; font-style: normal;" class="BRPFPageNumber">16</font></div>
          <div style="page-break-after: always;" class="BRPFPageBreak">
            <hr noshade="noshade" style="border-width: 0px; clear: both; margin: 4px 0px; width: 100%; height: 2px; color: #000000; background-color: #000000;"></div>
        </div>
        <table cellspacing="0" cellpadding="0" class="DSPFListTable" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

            <tr>
              <td style="width: 21.3pt; vertical-align: top; font-size: 12pt; color: rgb(0, 0, 0);">&#8226;</td>
              <td style="width: auto; vertical-align: top;">
                <div style="font-family: 'Times New Roman',Times,serif; text-align: justify; color: rgb(0, 0, 0);">The Annual CEO Equity Grant shall be granted pursuant to the Option Plan, and the grant shall be made through a trustee under the &#8220;Capital
                  Gains Route&#8221; of Section 102(b)(2) of the Ordinance.</div>
              </td>
            </tr>

        </table>
        <div style="line-height: 1.25; color: rgb(0, 0, 0);">&#160;</div>
        <div style="margin-right: 4.5pt; line-height: 1.25; font-style: italic; color: rgb(0, 0, 0);">Acceleration</div>
        <div style="line-height: 1.25; color: rgb(0, 0, 0);">&#160;</div>
        <div style="line-height: 1.25;">
          <div style="text-align: justify; margin-right: 4.5pt; line-height: 1.25; color: rgb(0, 0, 0);">The vesting of the Annual CEO Equity Grant will be subject to acceleration according to the following double trigger mechanism: in the event that by
            the date of the consummation of a Corporate Transaction (as defined in the Option Plan): (i) Mr. Arazi&#8217;s employment with the Company (or the surviving entity following a merger) is terminated not for (i) Cause; or (ii) Serious Cause (as such
            terms are defined in the Option Plan), or (ii) there is a change in Mr. Arazi&#8217;s position in the Company (or the surviving entity following merger) and Mr. Arazi is not offered to continue to be employed by the surviving entity in a senior
            position, equivalent to the position of the Company&#8217;s CEO prior to the Corporate Transaction, the vesting of all of the unvested equity awards included in the Annual CEO Equity Grant, as of such date, shall accelerate upon the consummation of
            the Corporate Transaction. Mr. Arazi shall undertake that in the event that he will sell any of the Annual CEO Equity Grant, the vesting of which accelerated as a result of this double trigger mechanism, he will remain employed by the Company
            (or the surviving entity following merger) for a six-month period following the consummation of the Corporate Transaction (subject to the Company&#8217;s or the surviving entity&#8217;s request) and the consideration received for such sale shall be held in
            escrow until the earlier of (i) the termination of Mr. Arazi&#8217;s employment, or (ii) the lapse of a six-month period following the consummation of the Corporate Transaction.</div>
          <div style="line-height: 1.25; color: rgb(0, 0, 0);">&#160;</div>
        </div>
        <div style="text-align: justify; line-height: 1.25; font-weight: bold; color: rgb(0, 0, 0);"><u>Additional Considerations Taken by the Compensation Committee and the Board of Directors when approving the abovementioned compensation terms proposed
            to be paid and/or granted to our CEO, Mr. Arazi</u></div>
        <div style="line-height: 1.25; color: rgb(0, 0, 0);">&#160;</div>
        <div style="text-align: justify; line-height: 1.25; color: rgb(0, 0, 0);">When considering the compensation terms detailed above proposed to be paid and/or granted to Mr. Arazi, our Compensation Committee and Board of Directors analyzed all factors
          and considerations required under the Compensation Policy and the Companies Law, including, <font style="font-style: italic;">inter alia</font>: (i) the responsibilities and duties of our Chief Executive Officer, considering the size of the
          Company and the scope, complexity and nature of its operations; (ii) Mr. Arazi&#8217;s education, qualifications, expertise and extensive experience in the telecommunications industry in general, and his performance in his various roles in the past;
          (iii) the information included in benchmark information and study presented to the Board of Directors, according to which the terms of office and employment proposed for Mr. Arazi are below the average terms of office and employment paid by the
          Company&#8217;s peers to their Chief Executive Officers; (iv) market compensation trends; (v) the appropriate balance between the fixed components and the variable components comprising the proposed compensation, and the fact that the variable
          components are limited to maximums that are consistent with the requirement for a close link between payments to the Chief Executive Officer and the Company&#8217;s performance and increase of its profits, while protecting the interests of the Company
          and its shareholders; and (vi) examination of data regarding the ratio between the proposed compensation and the wages of the rest of the Company&#8217;s employees and, particularly, the ratio to the average wage and the median wage of such employees
          and the impact of the gaps between them on the labor relations in the Company, and determination that the said ratio is reasonable and will not adversely affect labor relations in the Company.</div>
        <div style="line-height: 1.25; color: rgb(0, 0, 0);">&#160;</div>
        <div style="line-height: 1.25;">
          <div style="text-align: justify; line-height: 1.25; color: rgb(0, 0, 0);">Considering the set of parameters and considerations, as well as the arguments specified above, our Compensation Committee and Board of Directors determined that the
            proposed compensation terms for our Chief Executive Officer, Mr. Doron Arazi, are fair, reasonable and customary.</div>
          <div style="line-height: 1.25; color: rgb(0, 0, 0);">&#160;</div>
        </div>
        <div style="text-align: justify; line-height: 1.25; font-weight: bold; color: rgb(0, 0, 0);"><u>Required Vote</u></div>
        <div style="line-height: 1.25; color: rgb(0, 0, 0);">&#160;</div>
        <div style="text-align: justify; line-height: 1.25; color: rgb(0, 0, 0);">The affirmative vote of the holders of a majority of the Ordinary Shares represented and voting at the Meeting in person or by proxy and voting on the matter, is required for
          the approval of the above compensation terms for Mr. Doron Arazi, the Company&#8217;s CEO; provided that a Disinterested Majority of the shares voted in favor of this proposal.</div>
        <div style="line-height: 1.25; color: rgb(0, 0, 0);">&#160;</div>
        <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" class="BRPFPageBreakArea">
          <div style="text-align: center;" class="BRPFPageNumberArea"><font style="color: #000000; font-weight: normal; font-style: normal;" class="BRPFPageNumber">17</font></div>
          <div style="page-break-after: always;" class="BRPFPageBreak">
            <hr noshade="noshade" style="border-width: 0px; clear: both; margin: 4px 0px; width: 100%; height: 2px; color: #000000; background-color: #000000;"></div>
        </div>
        <div style="text-align: justify; line-height: 1.25; color: rgb(0, 0, 0);">The Companies Law requires that each shareholder voting on a proposed resolution requiring a Disinterested Majority indicate whether or not he or she is a controlling
          shareholder or has a personal interest in the proposed resolutions. Under the Companies Law, in general, a person will be deemed to be a controlling shareholder if that person has the power to direct the activities of the company, otherwise than
          by reason of being a director or other office holder of the company, and a person is deemed to have a personal interest if any member of the shareholder&#8217;s immediate family, or the immediate family of a shareholder&#8217;s spouse, has a personal
          interest in the adoption of the proposals. In addition, you are deemed to have a personal interest if a company, other than Ceragon, which is affiliated with you, has a personal interest in the adoption of the proposals. Such company is a company
          in which you or a member of your immediate family serves as a director or CEO, has the right to appoint a director or the CEO, or owns five percent (5%) or more of the outstanding shares. However, you are not deemed to have a personal interest in
          the adoption of the proposals if your interest in such proposal arises solely from your ownership of our shares, or to a matter that is not related to a relationship with a controlling shareholder.</div>
        <div style="line-height: 1.25; color: rgb(0, 0, 0);">&#160;</div>
        <div style="text-align: justify; line-height: 1.25;"><font style="font-weight: bold; color: rgb(0, 0, 0);">Please note that we consider it highly unlikely that any of our shareholders is a controlling shareholder or has a personal interest in this
            proposal</font><font style="color: rgb(0, 0, 0);">.&#160; However, as required under Israeli law, the enclosed form of proxy requires that you specifically indicate whether you are, or are not, a controlling shareholder or have a personal interest
            in this proposal. Without indicating to this effect &#8211; we will not be able to count your vote with respect to the Disinterested Majority vote required for the approval of this proposal.</font></div>
        <div style="line-height: 1.25; color: rgb(0, 0, 0);">&#160;</div>
        <div style="line-height: 1.25;">
          <div style="text-align: justify; line-height: 1.25; color: rgb(0, 0, 0);">As set forth in the Companies Law, if our shareholders oppose the approval of the compensation package for Mr. Arazi, the Compensation Committee and Board of Directors may
            nevertheless approve such terms, in &#8220;special cases&#8221;, after having held another discussion regarding such terms, on the basis of detailed reasoning that considered the rationale behind the shareholders&#8217; opposition and after determining that such
            approval is in the best interests of the Company.</div>
        </div>
        <div style="line-height: 1.25; color: rgb(0, 0, 0);">&#160;</div>
        <div style="text-align: justify; line-height: 1.25; font-weight: bold; color: rgb(0, 0, 0);"><u>Proposed Resolutions</u></div>
        <div style="line-height: 1.25; color: rgb(0, 0, 0);">&#160;</div>
        <div style="text-align: justify; line-height: 1.25; color: rgb(0, 0, 0);">It is proposed that at the Meeting the following resolutions be adopted:</div>
        <div style="line-height: 1.25; color: rgb(0, 0, 0);">&#160;</div>
        <div style="text-align: justify; line-height: 1.25; color: rgb(0, 0, 0);">&#8220;<font style="font-weight: bold;">RESOLVED</font>, to approve the CEO Cash Bonus Plan upon the terms described in this Proposal 4 of the Proxy Statement; and</div>
        <div style="line-height: 1.25; color: rgb(0, 0, 0);">&#160;</div>
        <div style="text-align: justify; line-height: 1.25;"><font style="font-weight: bold; color: rgb(0, 0, 0);">FURTHER RESOLVED</font><font style="color: rgb(0, 0, 0);">, to approve the Annual CEO Equity Grant upon the terms described in this Proposal
            4 of the Proxy Statement.&#8221;</font></div>
        <div style="line-height: 1.25; color: rgb(0, 0, 0);">&#160;</div>
        <div style="text-align: justify; line-height: 1.25; font-weight: bold; color: rgb(0, 0, 0);"><u>Board Recommendation</u></div>
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        <div style="text-align: justify; line-height: 1.25; font-weight: bold; color: rgb(0, 0, 0);">The Board of Directors recommends a vote &#8220;FOR&#8221; approval of the proposed resolutions.</div>
        <div style="line-height: 1.25; color: rgb(0, 0, 0);">&#160;</div>
        <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" class="BRPFPageBreakArea">
          <div style="text-align: center;" class="BRPFPageNumberArea"><font style="color: #000000; font-weight: normal; font-style: normal;" class="BRPFPageNumber">18</font></div>
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        <div style="text-align: center; line-height: 1.25; font-weight: bold; color: rgb(0, 0, 0);">PROPOSAL 5</div>
        <div style="line-height: 1.25; color: rgb(0, 0, 0);">&#160;</div>
        <div style="text-align: center; line-height: 1.25; font-weight: bold; color: rgb(0, 0, 0);">RE-APPOINTMENT OF INDEPENDENT AUDITOR</div>
        <div style="line-height: 1.25; color: rgb(0, 0, 0);">&#160;</div>
        <div style="text-align: justify; line-height: 1.25; font-weight: bold; color: rgb(0, 0, 0);"><u>Background</u></div>
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        <div style="text-align: justify; line-height: 1.25; font-family: 'Times New Roman',Times,serif; color: rgb(0, 0, 0);">The Companies Law and our Articles provide that a certified accountant be appointed as an independent auditor of the Company at
          the annual general meeting of shareholders of the Company, and that the independent auditor serve in this position until immediately following the date of the next annual general meeting.</div>
        <div style="line-height: 1.25; color: rgb(0, 0, 0);">&#160;</div>
        <div style="text-align: justify; line-height: 1.25; font-weight: bold; color: rgb(0, 0, 0);"><u>General</u></div>
        <div style="line-height: 1.25; color: rgb(0, 0, 0);">&#160;</div>
        <div style="text-align: justify; line-height: 1.25; color: rgb(0, 0, 0);">At the Meeting, the shareholders will be asked to re-appoint Kost Forer Gabbay &amp; Kasierer, a member firm of Ernst &amp; Young Global (&#8220;<font style="font-weight: bold;">Kost


            Forer</font>&#8221;), as the Company&#8217;s independent auditor for the fiscal year ending December 31, 2023 and for the year commencing January 1, 2024 and until immediately following the next annual general meeting of shareholders, and to authorize the
          Company&#8217;s Board of Directors, (with power of delegation to its Financial Audit Committee, to set the annual compensation of the independent auditor in accordance with the volume and nature of its services.</div>
        <div style="line-height: 1.25; color: rgb(0, 0, 0);">&#160;</div>
        <div style="text-align: justify; line-height: 1.25; color: rgb(0, 0, 0);">Kost Forer has served as the Company&#8217;s independent auditor since 2002 and has no relationship with the Company or with any affiliate of the Company except as auditor, tax
          consultant and as a provider of other services that relate to transactional activities. Our Financial Audit Committee and the Board of Directors believe that such limited non-audit functions do not affect the independence of Kost Forer<font style="font-style: italic;">.</font></div>
        <div style="line-height: 1.25; color: rgb(0, 0, 0);">&#160;</div>
        <div style="text-align: justify; line-height: 1.25; color: rgb(0, 0, 0);">For information on the fees paid by the Company and its subsidiaries to the Kost Forer in each of the previous two fiscal&#160;years, please see&#160;&#8220;Item&#160;16C.&#160;Principal Accountant
          Fees and Services&#8221;&#160;in the Company&#8217;s Annual Report on Form&#160;20-F&#160;for the year ended December&#160;31, 2022, filed with the SEC on May&#160;1, 2023.</div>
        <div style="line-height: 1.25; color: rgb(0, 0, 0);">&#160;</div>
        <div style="text-align: justify; line-height: 1.25; color: rgb(0, 0, 0);">As a result of the combined provisions of the Israeli law, our Articles and the Sarbanes-Oxley Act of 2002, the appointment of the independent auditor requires the approval
          of the shareholders of the Company, and its compensation requires the approval of our Financial Audit Committee. The Company&#8217;s Financial Audit Committee&#160;and Board of Directors have reviewed and are satisfied with the performance of Kost Forer,
          and have recommended their re-appointment as the Company&#8217;s independent auditor for the fiscal year ending December 31, 2023 and for the year commencing January 1, 2024 and until immediately following the next annual general meeting of
          shareholders. Approval of that appointment is now being sought from the Company&#8217;s shareholders.</div>
        <div style="line-height: 1.25; color: rgb(0, 0, 0);">&#160;</div>
        <div style="text-align: justify; line-height: 1.25; font-weight: bold; color: rgb(0, 0, 0);"><u>Required Vote</u></div>
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        <div style="text-align: justify; line-height: 1.25; color: rgb(0, 0, 0);">The affirmative vote of holders of the majority of the Ordinary Shares represented and voting at the Meeting in person or by proxy and voting on the matter, is required for
          the re-appointment of Kost Forer as the Company's independent auditor.</div>
        <div style="line-height: 1.25; color: rgb(0, 0, 0);">&#160;</div>
        <div style="text-align: justify; line-height: 1.25; font-weight: bold; color: rgb(0, 0, 0);"><u>Proposed Resolution</u></div>
        <div style="line-height: 1.25; color: rgb(0, 0, 0);">&#160;</div>
        <div style="text-align: justify; line-height: 1.25; font-weight: bold; color: rgb(0, 0, 0);">It is proposed that at the Meeting the following resolution be adopted:</div>
        <div style="line-height: 1.25; color: rgb(0, 0, 0);">&#160;</div>
        <div style="text-align: justify; text-indent: 0pt; line-height: 1.25; color: rgb(0, 0, 0);">&#8220;<font style="font-weight: bold;">RESOLVED</font>, to re-appoint Kost Forer Gabbay &amp; Kasierer, a member firm of Ernst &amp; Young Global, as the
          independent auditor of the Company for the fiscal year ending December 31, 2023, and for the year commencing January 1, 2024 and until immediately following the next annual general meeting of shareholders and to authorize the Board of Directors
          (with power of delegation to the members of the Financial Audit Committee), to set the annual compensation of the independent auditor in accordance with the volume and nature of its services.&#8221;</div>
        <div style="line-height: 1.25; color: rgb(0, 0, 0);">&#160;</div>
        <div style="text-align: justify; line-height: 1.25; font-weight: bold; color: rgb(0, 0, 0);"><u>Board Recommendation</u></div>
        <div style="line-height: 1.25; color: rgb(0, 0, 0);">&#160;</div>
        <div style="text-align: justify; line-height: 1.25; font-weight: bold; color: rgb(0, 0, 0);">The Board of Directors recommends a vote &#8220;FOR&#8221; approval of the proposed resolution.</div>
        <div style="line-height: 1.25; color: rgb(0, 0, 0);">&#160;</div>
        <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" class="BRPFPageBreakArea">
          <div style="text-align: center;" class="BRPFPageNumberArea"><font style="color: #000000; font-weight: normal; font-style: normal;" class="BRPFPageNumber">19</font></div>
          <div style="page-break-after: always;" class="BRPFPageBreak">
            <hr noshade="noshade" style="border-width: 0px; clear: both; margin: 4px 0px; width: 100%; height: 2px; color: #000000; background-color: #000000;"></div>
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        <div style="text-align: center; line-height: 1.25; font-weight: bold; color: rgb(0, 0, 0);">ITEM 6</div>
        <div style="line-height: 1.25; color: rgb(0, 0, 0);">&#160;</div>
        <div style="text-align: center; line-height: 1.25; font-weight: bold; color: rgb(0, 0, 0);">RECEIPT AND CONSIDERATION OF THE AUDITOR&#8217;S REPORT AND</div>
        <div style="text-align: center; line-height: 1.25; font-weight: bold; color: rgb(0, 0, 0);">THE AUDITED CONSOLIDATED FINANCIAL STATEMENTS</div>
        <div style="line-height: 1.25; color: rgb(0, 0, 0);">&#160;</div>
        <div style="text-align: justify; line-height: 1.25; color: rgb(0, 0, 0);">At the Meeting, our auditor&#8217;s report and the audited consolidated financial statements of the Company for the fiscal year ended December 31, 2022 will be presented. The
          Company will hold a discussion with respect thereto, as required by the Companies Law. <font style="font-weight: bold;">This item will not involve a vote of the shareholders</font>.</div>
        <div style="line-height: 1.25; color: rgb(0, 0, 0);">&#160;</div>
        <div style="text-align: justify; line-height: 1.25; color: rgb(0, 0, 0);">The foregoing auditor&#8217;s report and the audited consolidated financial statements, as well as our Annual Report on Form 20-F for the year ended December 31, 2022 (filed with
          the SEC on May 1, 2023), may be viewed on our website &#8211; www.ceragon.com/investors/financial-information or through the EDGAR website of the SEC at www.sec.gov. Except as noted above under &#8220;Beneficial Ownership of Securities by Principal
          Shareholders and Management&#8221; and under Proposal 5 &#8220;Re-Appointment of Independent Auditor&#8221;, none of the auditor&#8217;s report, audited consolidated financial statements, Annual Report on Form 20-F or the contents of our website form part of the proxy
          solicitation material.</div>
        <div style="line-height: 1.25; color: rgb(0, 0, 0);">&#160;</div>
        <div style="text-align: center; line-height: 1.25; color: rgb(0, 0, 0);">By Order of the Board of Directors,</div>
        <div style="line-height: 1.25; color: rgb(0, 0, 0);">&#160;</div>
        <div style="text-align: center; line-height: 1.25; font-family: 'Times New Roman',Times,serif; color: rgb(0, 0, 0);">/s/ Ilan Rosen</div>
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        <div style="text-align: center; line-height: 1.25; font-family: 'Times New Roman',Times,serif; color: rgb(0, 0, 0);">Ilan Rosen, Chairman of the Board of Directors</div>
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        <div style="text-align: center; line-height: 1.25; color: rgb(0, 0, 0);">July 27, 2023</div>
        <div style="line-height: 1.25; color: rgb(0, 0, 0);">&#160;</div>
        <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" class="BRPFPageBreakArea">
          <div style="text-align: center;" class="BRPFPageNumberArea"><font style="color: #000000; font-weight: normal; font-style: normal;" class="BRPFPageNumber">20</font></div>
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            <hr noshade="noshade" style="border-width: 0px; clear: both; margin: 4px 0px; width: 100%; height: 2px; color: #000000; background-color: #000000;"></div>
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        <div style="text-align: center; line-height: 1.25; color: rgb(0, 0, 0);">Exhibit A</div>
        <div style="line-height: 1.25; color: rgb(0, 0, 0);">&#160;</div>
        <div style="text-align: center; line-height: 1.25; color: rgb(0, 0, 0);">Amended and Restated Executives &amp; Directors Compensation Policy</div>
        <div style="text-align: center; line-height: 1.25;">
          <div style="line-height: 1.25; color: rgb(0, 0, 0);">&#160;</div>
          <div style="line-height: 1.25; font-family: 'Times New Roman',Times,serif; font-size: 14pt; font-weight: bold; color: rgb(0, 0, 0);"><u>Executives &amp; Directors Compensation Policy</u></div>
          <div style="line-height: 1.25; color: rgb(0, 0, 0);">&#160;</div>
          <div style="line-height: 1.25; font-family: 'Times New Roman',Times,serif; font-weight: bold;">
            <div style="line-height: 1.25; font-weight: bold; color: rgb(0, 0, 0);">Approved at AGM on <strike>July </strike><u>Septmebr </u><strike>20</strike><u>&#160; </u>, <strike>2020</strike><u>2023</u></div>
            <font style="color: rgb(0, 0, 0);"><u></u></font></div>
          <div style="line-height: 1.25;">
            <div style="line-height: 1.25;"><font style="color: rgb(0, 0, 0);">&#160;<br>
              </font> </div>
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                  <td style="width: 31.25pt; vertical-align: top; font-weight: bold; color: rgb(0, 0, 0);">I.</td>
                  <td style="width: auto; vertical-align: top;">
                    <div style="font-family: 'Times New Roman',Times,serif; font-weight: bold; color: rgb(0, 0, 0);"><u>Overview</u></div>
                  </td>
                </tr>

            </table>
            <div style="line-height: 1.25; color: rgb(0, 0, 0);">&#160;</div>
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                  <td style="width: 30pt; color: rgb(0, 0, 0);">&#160;</td>
                  <td style="width: 17.45pt; vertical-align: top; font-family: 'Times New Roman',Times,serif; font-weight: bold; color: rgb(0, 0, 0);">1.</td>
                  <td style="width: auto; vertical-align: top; text-align: justify;">
                    <div style="font-family: 'Times New Roman',Times,serif; font-weight: bold; color: rgb(0, 0, 0);"><u>Definitions</u></div>
                  </td>
                </tr>

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            <div style="line-height: 1.25; color: rgb(0, 0, 0);">&#160;</div>
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                  <td style="width: 6%; vertical-align: top; color: rgb(0, 0, 0);" colspan="1">&#160;</td>
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                    <div style="margin-left: 2.5pt; line-height: 1.25; font-family: 'Times New Roman',Times,serif; font-weight: bold; color: rgb(0, 0, 0);">Company</div>
                  </td>
                  <td style="width: 3%; vertical-align: top;">
                    <div style="margin-left: 5.75pt; line-height: 1.25; font-family: 'Times New Roman',Times,serif; color: rgb(0, 0, 0);">-</div>
                  </td>
                  <td style="width: 75%; vertical-align: top;">
                    <div style="line-height: 1.25; font-family: 'Times New Roman',Times,serif; color: rgb(0, 0, 0);">CERGAON NETWORKS LTD.</div>
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                </tr>
                <tr>
                  <td style="width: 6%; vertical-align: top; color: rgb(0, 0, 0);" rowspan="1" colspan="1">&#160;</td>
                  <td style="width: 16%; vertical-align: top; color: rgb(0, 0, 0);" rowspan="1">&#160;</td>
                  <td style="width: 3%; vertical-align: top; color: rgb(0, 0, 0);" rowspan="1">&#160;</td>
                  <td style="width: 75%; vertical-align: top; color: rgb(0, 0, 0);" rowspan="1">&#160;</td>
                </tr>
                <tr>
                  <td style="width: 6%; vertical-align: top; color: rgb(0, 0, 0);" colspan="1">&#160;</td>
                  <td style="width: 16%; vertical-align: top;">
                    <div style="margin-left: 2.5pt; line-height: 1.25; font-family: 'Times New Roman',Times,serif; font-weight: bold; color: rgb(0, 0, 0);">Law</div>
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                  <td style="width: 3%; vertical-align: top;">
                    <div style="margin-left: 5.75pt; line-height: 1.25; font-family: 'Times New Roman',Times,serif; color: rgb(0, 0, 0);">-</div>
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                    <div style="line-height: 1.25; font-family: 'Times New Roman',Times,serif; color: rgb(0, 0, 0);">The Israeli Companies Law 5759-1999 and any regulations promulgated under it, as amended from time to time.</div>
                  </td>
                </tr>
                <tr>
                  <td style="width: 6%; vertical-align: top; color: rgb(0, 0, 0);" rowspan="1" colspan="1">&#160;</td>
                  <td style="width: 16%; vertical-align: top; color: rgb(0, 0, 0);" rowspan="1">&#160;</td>
                  <td style="width: 3%; vertical-align: top; color: rgb(0, 0, 0);" rowspan="1">&#160;</td>
                  <td style="width: 75%; vertical-align: top; color: rgb(0, 0, 0);" rowspan="1">&#160;</td>
                </tr>
                <tr>
                  <td style="width: 6%; vertical-align: top; color: rgb(0, 0, 0);" colspan="1">&#160;</td>
                  <td style="width: 16%; vertical-align: top;">
                    <div style="margin-left: 2.5pt; line-height: 1.25; font-family: 'Times New Roman',Times,serif; font-weight: bold; color: rgb(0, 0, 0);">Compensation Committee</div>
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                  <td style="width: 3%; vertical-align: top;">
                    <div style="margin-left: 5.75pt; line-height: 1.25; font-family: 'Times New Roman',Times,serif; color: rgb(0, 0, 0);">-</div>
                  </td>
                  <td style="width: 75%; vertical-align: top;">
                    <div style="line-height: 1.25; font-family: 'Times New Roman',Times,serif; color: rgb(0, 0, 0);">A committee satisfying the requirements of applicable law.</div>
                  </td>
                </tr>
                <tr>
                  <td style="width: 6%; vertical-align: top; color: rgb(0, 0, 0);" rowspan="1" colspan="1">&#160;</td>
                  <td style="width: 16%; vertical-align: top; color: rgb(0, 0, 0);" rowspan="1">&#160;</td>
                  <td style="width: 3%; vertical-align: top; color: rgb(0, 0, 0);" rowspan="1">&#160;</td>
                  <td style="width: 75%; vertical-align: top; color: rgb(0, 0, 0);" rowspan="1">&#160;</td>
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                <tr>
                  <td style="width: 6%; vertical-align: top; color: rgb(0, 0, 0);" colspan="1">&#160;</td>
                  <td style="width: 16%; vertical-align: top;">
                    <div style="margin-left: 2.5pt; line-height: 1.25; font-family: 'Times New Roman',Times,serif; font-weight: bold; color: rgb(0, 0, 0);">Office Holder</div>
                  </td>
                  <td style="width: 3%; vertical-align: top;">
                    <div style="margin-left: 5.75pt; line-height: 1.25; font-family: 'Times New Roman',Times,serif; color: rgb(0, 0, 0);">-</div>
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                  <td style="width: 75%; vertical-align: top;">
                    <div style="line-height: 1.25; font-family: 'Times New Roman',Times,serif; color: rgb(0, 0, 0);">Director, CEO, Executive-Vice-President, any person filling any of these positions in a company even if he holds a different title, and any
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                  </td>
                </tr>
                <tr>
                  <td style="width: 6%; vertical-align: top; color: rgb(0, 0, 0);" rowspan="1" colspan="1">&#160;</td>
                  <td style="width: 16%; vertical-align: top; color: rgb(0, 0, 0);" rowspan="1">&#160;</td>
                  <td style="width: 3%; vertical-align: top; color: rgb(0, 0, 0);" rowspan="1">&#160;</td>
                  <td style="width: 75%; vertical-align: top; color: rgb(0, 0, 0);" rowspan="1">&#160;</td>
                </tr>
                <tr>
                  <td style="width: 6%; vertical-align: top; color: rgb(0, 0, 0);" colspan="1">&#160;</td>
                  <td style="width: 16%; vertical-align: top;">
                    <div style="margin-left: 2.5pt; line-height: 1.25; font-family: 'Times New Roman',Times,serif; font-weight: bold; color: rgb(0, 0, 0);">Executive</div>
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                  <td style="width: 3%; vertical-align: top;">
                    <div style="margin-left: 5.75pt; line-height: 1.25; font-family: 'Times New Roman',Times,serif; color: rgb(0, 0, 0);">-</div>
                  </td>
                  <td style="width: 75%; vertical-align: top;">
                    <div style="line-height: 1.25; font-family: 'Times New Roman',Times,serif; color: rgb(0, 0, 0);">Office Holder, excluding a director.</div>
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                </tr>
                <tr>
                  <td style="width: 6%; vertical-align: top; color: rgb(0, 0, 0);" rowspan="1" colspan="1">&#160;</td>
                  <td style="width: 16%; vertical-align: top; color: rgb(0, 0, 0);" rowspan="1">&#160;</td>
                  <td style="width: 3%; vertical-align: top; color: rgb(0, 0, 0);" rowspan="1">&#160;</td>
                  <td style="width: 75%; vertical-align: top; color: rgb(0, 0, 0);" rowspan="1">&#160;</td>
                </tr>
                <tr>
                  <td style="width: 6%; vertical-align: top; color: rgb(0, 0, 0);" colspan="1">&#160;</td>
                  <td style="width: 16%; vertical-align: top;">
                    <div style="margin-right: 3.5pt; margin-left: 2.5pt; line-height: 1.25; font-family: 'Times New Roman',Times,serif; font-weight: bold; color: rgb(0, 0, 0);">Terms of Office and Employment</div>
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                    <div style="margin-left: 5.75pt; line-height: 1.25; font-family: 'Times New Roman',Times,serif; color: rgb(0, 0, 0);">-</div>
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                  <td style="width: 75%; vertical-align: top;">
                    <div style="line-height: 1.25; font-family: 'Times New Roman',Times,serif; color: rgb(0, 0, 0);">Terms of office or employment of an Executive or a Director, including the grant of an exemption, an undertaking to indemnify,
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                  </td>
                </tr>
                <tr>
                  <td style="width: 6%; vertical-align: top; color: rgb(0, 0, 0);" rowspan="1" colspan="1">&#160;</td>
                  <td style="width: 16%; vertical-align: top; color: rgb(0, 0, 0);" rowspan="1">&#160;</td>
                  <td style="width: 3%; vertical-align: top; color: rgb(0, 0, 0);" rowspan="1">&#160;</td>
                  <td style="width: 75%; vertical-align: top; color: rgb(0, 0, 0);" rowspan="1">&#160;</td>
                </tr>
                <tr>
                  <td style="width: 6%; vertical-align: top; color: rgb(0, 0, 0);" colspan="1">&#160;</td>
                  <td style="width: 16%; vertical-align: top;">
                    <div style="margin-left: 2.5pt; line-height: 1.25; font-family: 'Times New Roman',Times,serif; font-weight: bold; color: rgb(0, 0, 0);">Total Cash Compensation</div>
                  </td>
                  <td style="width: 3%; vertical-align: top;">
                    <div style="margin-left: 5.75pt; line-height: 1.25; font-family: 'Times New Roman',Times,serif; color: rgb(0, 0, 0);">-</div>
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                  <td style="width: 75%; vertical-align: top;">
                    <div style="line-height: 1.25; font-family: 'Times New Roman',Times,serif; color: rgb(0, 0, 0);">The total annual cash compensation of an Executive, which shall include the total amount of: (i) the annual base salary; and (ii) the On
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                </tr>
                <tr>
                  <td style="width: 6%; vertical-align: top; color: rgb(0, 0, 0);" rowspan="1" colspan="1">&#160;</td>
                  <td style="width: 16%; vertical-align: top; color: rgb(0, 0, 0);" rowspan="1">&#160;</td>
                  <td style="width: 3%; vertical-align: top; color: rgb(0, 0, 0);" rowspan="1">&#160;</td>
                  <td style="width: 75%; vertical-align: top; color: rgb(0, 0, 0);" rowspan="1">&#160;</td>
                </tr>
                <tr>
                  <td style="width: 6%; vertical-align: top; color: rgb(0, 0, 0);" colspan="1">&#160;</td>
                  <td style="width: 16%; vertical-align: top;">
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            <div style="line-height: 1.25; color: rgb(0, 0, 0);">&#160;</div>
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                    <div style="font-family: 'Times New Roman',Times,serif; color: rgb(0, 0, 0);">Our Company is a global backhaul wireless company operating in a competitive global market. Our solutions are deployed by more than 460 service providers of
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            <div style="line-height: 1.25; color: rgb(0, 0, 0);">&#160;</div>
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                    <div style="font-family: 'Times New Roman',Times,serif; color: rgb(0, 0, 0);">Our vision and business strategy is directed towards growth, profitability, innovation, success in future goals, all with a long term perspective.</div>
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                    <div style="font-family: 'Times New Roman',Times,serif; color: rgb(0, 0, 0);">The Company&#8217;s success in fulfilling its long term vision and strategy is much reliant on the excellence of its people through all levels. Thus, we believe
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            <div style="line-height: 1.25; color: rgb(0, 0, 0);">&#160;</div>
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                    <div style="font-size: 12pt;"><font style="font-size: 10pt; color: rgb(0, 0, 0);">Therefore, we believe in creating a comprehensive compensation policy for our Office Holders (the "</font><font style="font-size: 10pt; font-weight: bold; color: rgb(0, 0, 0);">Policy</font><font style="font-size: 10pt; color: rgb(0, 0, 0);">") which shall enable us to attract and retain highly qualified Executives. Moreover, the Policy shall motivate our Executives to achieve ongoing
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                <td style="width: 21.6pt; vertical-align: top; font-family: 'Times New Roman',Times,serif; color: rgb(0, 0, 0);">2.5.</td>
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                  <div style="font-family: 'Times New Roman',Times,serif; color: rgb(0, 0, 0);">The Policy is designed to offer our Executives a compensation package that is competitive with other peer group companies. Moreover, the Policy is intended to
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                <td style="width: 21.6pt; vertical-align: top; font-family: 'Times New Roman',Times,serif; color: rgb(0, 0, 0);">2.6.</td>
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                  <div style="font-family: 'Times New Roman',Times,serif; color: rgb(0, 0, 0);">The Policy is tailored to ensure a compensation which balances performance targets and time horizons through rewarding business results, long-term performance
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          <div style="line-height: 1.25; color: rgb(0, 0, 0);">&#160;</div>
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                <td style="width: 21.6pt; vertical-align: top; font-family: 'Times New Roman',Times,serif; color: rgb(0, 0, 0);">2.7.</td>
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                  <div style="font-family: 'Times New Roman',Times,serif; color: rgb(0, 0, 0);">The Policy shall provide the Board of Directors with guidelines for exercising discretion under the Company&#8217;s equity plans.</div>
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          <div style="line-height: 1.25; color: rgb(0, 0, 0);">&#160;</div>
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                  <div style="font-family: 'Times New Roman',Times,serif; color: rgb(0, 0, 0);">The Policy is guided by the applicable principles set forth in the Law.</div>
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                  <div style="font-family: 'Times New Roman',Times,serif; font-weight: bold; color: rgb(0, 0, 0);"><u>Principles of the Policy</u></div>
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                  <div style="font-family: 'Times New Roman',Times,serif; color: rgb(0, 0, 0);">The Policy shall guide the Company&#8217;s management, Compensation Committee and Board of Directors with regard to the Office Holders' compensation.</div>
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          <div style="line-height: 1.25; color: rgb(0, 0, 0);">&#160;</div>
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                  <div style="font-family: 'Times New Roman',Times,serif; color: rgb(0, 0, 0);">The Policy shall be reviewed from time to time by the Compensation Committee and the Board of Directors, to ensure its compliance with applicable laws and
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                  <div style="font-family: 'Times New Roman',Times,serif; color: rgb(0, 0, 0);">Any proposed amendment to the Policy shall be brought up to the approval of the Shareholders of the Company and the Policy as a whole shall be re-approved by
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                  <div style="font-family: 'Times New Roman',Times,serif; color: rgb(0, 0, 0);">The approval procedures of Terms of Office and Employment as well as back-up data upon which the approvals are based shall be documented in detail and such
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          <div style="line-height: 1.25; color: rgb(0, 0, 0);">&#160;</div>
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                  <div style="font-family: 'Times New Roman',Times,serif; color: rgb(0, 0, 0);">The compensation of each Office Holder shall be subject to mandatory or customary deductions and withholdings, in accordance with the applicable local laws.</div>
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                  <div style="font-family: 'Times New Roman',Times,serif; font-weight: bold; color: rgb(0, 0, 0);"><u>Executive Compensation</u></div>
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                  <div style="font-family: 'Times New Roman',Times,serif; color: rgb(0, 0, 0);">When examining and approving Executives&#8217; Terms of Office and Employment, the Compensation Committee and Board members shall review the following factors and
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          <div style="line-height: 1.25; color: rgb(0, 0, 0);">&#160;</div>
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                  <div style="font-family: 'Times New Roman',Times,serif; color: rgb(0, 0, 0);">The ratio between the cost of an Executives' compensation, including all components of the Executives' Terms of Office and Employment, and the cost of salary of
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                <td style="width: 21.65pt; vertical-align: top; font-family: 'Times New Roman',Times,serif; color: rgb(0, 0, 0);">1.6.</td>
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                  <div style="font-family: 'Times New Roman',Times,serif; color: rgb(0, 0, 0);">Comparative information, as applicable, as to former Executives in the same position or similar positions, as to other positions with similar scopes of
                    responsibilities inside the Company, and as to Executives in peer companies globally spread. The peer group shall include not less than 10 worldwide and local companies similar in parameters such as total revenues, market cap, industry
                    and number of employees. The comparative information, as applicable, shall address the base salary, target cash incentives and equity and will rely, as much as possible, on reputable industry surveys.</div>
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          <div style="line-height: 1.25; color: rgb(0, 0, 0);">&#160;</div>
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                <td style="width: 17.45pt; vertical-align: top; color: rgb(0, 0, 0);">2.</td>
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                  <div style="font-family: 'Times New Roman',Times,serif; color: rgb(0, 0, 0);">The compensation of each Executive shall be composed of, some or all, of the following components:</div>
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          <div style="line-height: 1.25; color: rgb(0, 0, 0);">&#160;</div>
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                <td style="width: 17.85pt; vertical-align: top; color: rgb(0, 0, 0);">i.</td>
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                  <div style="font-family: 'Times New Roman',Times,serif; color: rgb(0, 0, 0);">Fixed components, which shall include, among others: base salary and benefits.</div>
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          <div style="line-height: 1.25; color: rgb(0, 0, 0);">&#160;</div>
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                  <div style="font-family: 'Times New Roman',Times,serif; color: rgb(0, 0, 0);">Variable components, which may include: cash incentives and equity based compensation.</div>
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          <div> <font style="color: rgb(0, 0, 0);"><br>
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                <td style="width: 54pt;"><font style="color: rgb(0, 0, 0);"><br>
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                <td style="width: 17.85pt; vertical-align: top; color: rgb(0, 0, 0);">iii.</td>
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                  <div style="font-family: 'Times New Roman',Times,serif; color: rgb(0, 0, 0);">Separation package;</div>
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          <div style="line-height: 1.25; color: rgb(0, 0, 0);">&#160;</div>
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                <td style="width: 54pt;"><font style="color: rgb(0, 0, 0);"><br>
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                <td style="width: 17.85pt; vertical-align: top; color: rgb(0, 0, 0);">iv.</td>
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                  <div style="font-family: 'Times New Roman',Times,serif; color: rgb(0, 0, 0);">Directors &amp; Officers (D&amp;O) Insurance, indemnification; and</div>
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          <div style="line-height: 1.25; color: rgb(0, 0, 0);">&#160;</div>
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                <td style="width: 54.05pt;"><font style="color: rgb(0, 0, 0);"><br>
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                <td style="width: 17.8pt; vertical-align: top; font-style: italic; color: rgb(0, 0, 0);">v.</td>
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                  <div style="font-family: 'Times New Roman',Times,serif; color: rgb(0, 0, 0);">Other components, which may include: change in control payment, sign-on bonus relocation expenses, leave of absence, special bonus, etc<font style="font-style: italic;">.</font></div>
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          <div style="line-height: 1.25; color: rgb(0, 0, 0);">&#160;</div>
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                <td style="width: 30pt;"><font style="color: rgb(0, 0, 0);"><br>
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                <td style="width: 17.45pt; vertical-align: top; font-family: 'Times New Roman',Times,serif; color: rgb(0, 0, 0);">3.</td>
                <td style="width: auto; vertical-align: top; text-align: justify;">
                  <div style="font-family: 'Times New Roman',Times,serif; color: rgb(0, 0, 0);">Our philosophy is that our Executives&#8217; compensation mix shall be comprised of, some or all, of the following components: annual base salary, performance-based
                    cash incentives and long-term equity based compensation, all in accordance with the position and responsibilities of each Executive, and taking into account the purposes of each component, as presented in the following table:</div>
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          <div style="line-height: 1.25;"><font style="color: rgb(0, 0, 0);">&#160;<br>
            </font> </div>
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                  <div style="line-height: 1.25; font-family: 'Times New Roman',Times,serif; font-weight: bold; color: rgb(0, 0, 0);">Compensation Component</div>
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                <td style="vertical-align: top; width: 2.5%; padding-bottom: 2px; color: rgb(0, 0, 0);" colspan="1">&#160;</td>
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                  <div style="text-align: center; line-height: 1.25;"><font style="font-family: 'Times New Roman',Times,serif; font-weight: bold; color: rgb(0, 0, 0);">Purpose</font><font style="color: rgb(0, 0, 0);">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;</font></div>
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                <td style="width: 2.5%; vertical-align: top; padding-bottom: 2px; color: rgb(0, 0, 0);" colspan="1">&#160;</td>
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                  <div style="text-align: center; line-height: 1.25; font-family: 'Times New Roman',Times,serif; font-weight: bold; color: rgb(0, 0, 0);">Compensation Objective Achieved&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;</div>
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                <td style="width: 25%; vertical-align: top; color: rgb(0, 0, 0);" rowspan="1">&#160;</td>
                <td style="vertical-align: top; width: 2.5%; color: rgb(0, 0, 0);" rowspan="1" colspan="1">&#160;</td>
                <td style="width: 35%; vertical-align: top; color: rgb(0, 0, 0);" rowspan="1">&#160;</td>
                <td style="width: 2.5%; vertical-align: top; color: rgb(0, 0, 0);" rowspan="1" colspan="1">&#160;</td>
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              <tr>
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                  <div style="line-height: 1.25; font-family: 'Times New Roman',Times,serif; color: rgb(0, 0, 0);">Annual base salary</div>
                </td>
                <td style="vertical-align: top; width: 2.5%; color: rgb(0, 0, 0);" colspan="1">&#160;</td>
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                  <div style="margin-right: 3.35pt; margin-left: 2.3pt; line-height: 1.25; font-family: 'Times New Roman',Times,serif; color: rgb(0, 0, 0);">Provide annual cash income based on the level of responsibility, individual qualities, past
                    performance inside the Company, past experience inside and outside the Company and comparative information.</div>
                  <div style="margin-right: 3.35pt; margin-left: 2.3pt; line-height: 1.25; font-family: 'Times New Roman',Times,serif;"> <font style="color: rgb(0, 0, 0);"><br>
                    </font> </div>
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                  <div style="text-indent: -7.1pt; margin-right: 2.55pt; margin-left: 19.35pt; line-height: 1.25; color: rgb(0, 0, 0);">&#8226;&#160; <font style="font-family: 'Times New Roman',Times,serif;">Individual role, scope and capability based compensation</font></div>
                  <div style="text-indent: -7.1pt; margin-right: 2.45pt; margin-left: 19.35pt; line-height: 1.25; color: rgb(0, 0, 0);">&#8226;&#160; <font style="font-family: 'Times New Roman',Times,serif;">Market competitiveness in attracting Executives.</font></div>
                  <div style="text-indent: -7.1pt; margin-right: 2.45pt; margin-left: 19.35pt; line-height: 1.25; color: rgb(0, 0, 0);"><font style="font-family: 'Times New Roman',Times,serif;"> <br>
                    </font></div>
                </td>
              </tr>
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                  <div style="line-height: 1.25; font-family: 'Times New Roman',Times,serif; color: rgb(0, 0, 0);">Performance-based cash incentive compensation</div>
                </td>
                <td style="vertical-align: top; width: 2.5%; color: rgb(0, 0, 0);" colspan="1">&#160;</td>
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                  <div style="margin-right: 3.35pt; margin-left: 2.3pt; line-height: 1.25; font-family: 'Times New Roman',Times,serif; color: rgb(0, 0, 0);">Motivate and incentivize individual towards reaching Company, department and individual's
                    periodical and long- term goals and targets.</div>
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                <td style="width: 2.5%; vertical-align: top; color: rgb(0, 0, 0);" colspan="1">&#160;</td>
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                  <div style="text-align: justify; text-indent: -13.65pt; margin-left: 25.85pt; line-height: 1.25; color: rgb(0, 0, 0);">&#8226;&#160; <font style="font-family: 'Times New Roman',Times,serif;">Reward periodical accomplishments</font></div>
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                  <div style="text-align: justify; text-indent: -7.1pt; margin-right: 2.5pt; margin-left: 19.35pt; line-height: 1.25; color: rgb(0, 0, 0);">&#8226;&#160; <font style="font-family: 'Times New Roman',Times,serif;">Market competitiveness in attracting
                      Executives</font></div>
                  <div style="text-align: justify; text-indent: -7.1pt; margin-right: 2.5pt; margin-left: 19.35pt; line-height: 1.25; color: rgb(0, 0, 0);"><font style="font-family: 'Times New Roman',Times,serif;"> <br>
                    </font></div>
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                  <div style="line-height: 1.25; font-family: 'Times New Roman',Times,serif; color: rgb(0, 0, 0);">Long-term equity-based Compensation</div>
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                <td style="vertical-align: top; width: 2.5%; color: rgb(0, 0, 0);" colspan="1">&#160;</td>
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                  <div style="margin-left: 2.3pt; line-height: 1.25; color: rgb(0, 0, 0);">Align the interests of the individual with the Shareholders of the Company, by creating a correlation between the Company&#8217;s success and the value of the</div>
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                <td style="width: 2.5%; vertical-align: top; color: rgb(0, 0, 0);" colspan="1">&#160;</td>
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                <td style="width: 30pt;"><font style="color: rgb(0, 0, 0);"><br>
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                <td style="width: 17.45pt; vertical-align: top; font-family: 'Times New Roman',Times,serif; color: rgb(0, 0, 0);">4.</td>
                <td style="width: auto; vertical-align: top; text-align: justify;">
                  <div style="font-family: 'Times New Roman',Times,serif; color: rgb(0, 0, 0);">The compensation package shall be reviewed with each Executive at least once a year, or as may be required from time to time.</div>
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                <td style="width: 17.45pt; vertical-align: top; font-family: 'Times New Roman',Times,serif; color: rgb(0, 0, 0);">5.</td>
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                  <div style="font-size: 12pt; color: rgb(0, 0, 0);"><font style="font-size: 10pt; font-family: 'Times New Roman',Times,serif; font-weight: bold;"><u>Fixed compensation</u>&#160;<u>Base Salary:</u></font></div>
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          <div style="line-height: 1.25; color: rgb(0, 0, 0);">&#160;</div>
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                <td style="width: 52.4pt;"><font style="color: rgb(0, 0, 0);"><br>
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                <td style="width: 21.6pt; vertical-align: top; font-family: 'Times New Roman',Times,serif; color: rgb(0, 0, 0);">5.1.</td>
                <td style="width: auto; vertical-align: top; text-align: justify;">
                  <div style="font-family: 'Times New Roman',Times,serif; color: rgb(0, 0, 0);">Our Compensation Committee and Board of Directors shall determine, from time to time, the target percentile, and/or range of precentiles, that our Executives'
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                </td>
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          <div> <font style="color: rgb(0, 0, 0);"><br>
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                <td style="width: 21.6pt; vertical-align: top; font-family: 'Times New Roman',Times,serif; color: rgb(0, 0, 0);">5.2.</td>
                <td style="width: auto; vertical-align: top; text-align: justify;">
                  <div style="font-family: 'Times New Roman',Times,serif; color: rgb(0, 0, 0);">The base salary is intended to provide annual cash income based on the level of responsibility, individual qualities, past performance inside the Company, and
                    past experience inside and outside the Company.</div>
                </td>
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                <td style="width: 21.6pt; vertical-align: top; font-family: 'Times New Roman',Times,serif; color: rgb(0, 0, 0);">5.3.</td>
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                  <div style="font-family: 'Times New Roman',Times,serif; color: rgb(0, 0, 0);">The value of the annual base salary in the compensation of each of our Executives shall be designed, not to be more than 66 % of such Executive's Total
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          <div style="line-height: 1.25;"><font style="color: rgb(0, 0, 0);">&#160; <br>
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          <div style="text-align: left; margin-left: 39.2pt; line-height: 1.25; font-family: 'Times New Roman',Times,serif; font-weight: bold; color: rgb(0, 0, 0);"><u>Benefits</u></div>
          <div style="text-align: left; margin-left: 39.2pt; line-height: 1.25; font-family: 'Times New Roman',Times,serif; font-weight: bold; color: rgb(0, 0, 0);"><u> <br>
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                <td style="width: 52.4pt;"><font style="color: rgb(0, 0, 0);"><br>
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                <td style="width: 21.6pt; vertical-align: top; font-family: 'Times New Roman',Times,serif; color: rgb(0, 0, 0);">5.4.</td>
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                  <div style="font-family: 'Times New Roman',Times,serif; color: rgb(0, 0, 0);">Benefits granted to Executives shall include any mandatory benefit under applicable law, as well as:</div>
                </td>
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          <div> <font style="color: rgb(0, 0, 0);"><br>
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                <td style="width: 76.35pt;"><font style="color: rgb(0, 0, 0);"><br>
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                <td style="width: 31.5pt; vertical-align: top; font-family: 'Times New Roman',Times,serif; color: rgb(0, 0, 0);">5.4.1.</td>
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                  <div style="font-family: 'Times New Roman',Times,serif; color: rgb(0, 0, 0);">Pension plan/ Executive insurance as customary in each territory.</div>
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              </tr>

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          <div> <font style="color: rgb(0, 0, 0);"><br>
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                <td style="width: 76.4pt;"><font style="color: rgb(0, 0, 0);"><br>
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                <td style="width: 31.45pt; vertical-align: top; font-family: 'Times New Roman',Times,serif; color: rgb(0, 0, 0);">5.4.2.</td>
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                  <div style="font-family: 'Times New Roman',Times,serif; color: rgb(0, 0, 0);">Benefits which may be offered as part of the general employee benefits package, such as in Israel: Private medical insurance, disability and life insurance,
                    transportation (including Company car, a Company's leased car or transportation allowance), communication &amp; media, Israeli education fund, etc. in accordance with the local practice of the Company.</div>
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          <div> <font style="color: rgb(0, 0, 0);"><br>
            </font> </div>
          <table cellspacing="0" cellpadding="0" id="z23cf638682ec49c49951e01bbc272cca" class="DSPFListTable" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

              <tr>
                <td style="width: 76.4pt;"><font style="color: rgb(0, 0, 0);"><br>
                  </font> </td>
                <td style="width: 31.45pt; vertical-align: top; font-family: 'Times New Roman',Times,serif; color: rgb(0, 0, 0);">5.4.3.</td>
                <td style="width: auto; vertical-align: top; text-align: justify;">
                  <div style="font-family: 'Times New Roman',Times,serif; color: rgb(0, 0, 0);">An Executive will be entitled to sick days and other special vacation days (such as recreation days), in accordance with local standards and practices.</div>
                </td>
              </tr>

          </table>
          <div> <font style="color: rgb(0, 0, 0);"><br>
            </font> </div>
          <table cellspacing="0" cellpadding="0" id="z8cd6658111e2437ca40c477a54c6d59b" class="DSPFListTable" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

              <tr>
                <td style="width: 76.4pt;"><font style="color: rgb(0, 0, 0);"><br>
                  </font> </td>
                <td style="width: 31.45pt; vertical-align: top; font-family: 'Times New Roman',Times,serif; color: rgb(0, 0, 0);">5.4.4.</td>
                <td style="width: auto; vertical-align: top; text-align: justify;">
                  <div style="font-family: 'Times New Roman',Times,serif; color: rgb(0, 0, 0);">An Executive may be entitled to vacation days (or redemption thereof), in correlation with the Executive&#8217;s seniority and position in the Company (generally up
                    to 28 days annualy), subject to the minimum vacation days requirements per country of employment as well as the local national holidays.</div>
                </td>
              </tr>

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          <div> <font style="color: rgb(0, 0, 0);"><br>
            </font> </div>
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              <tr>
                <td style="width: 76.4pt;"><font style="color: rgb(0, 0, 0);"><br>
                  </font> </td>
                <td style="width: 31.45pt; vertical-align: top; font-family: 'Times New Roman',Times,serif; color: rgb(0, 0, 0);">5.4.5.</td>
                <td style="width: auto; vertical-align: top; text-align: justify;">
                  <div style="font-family: 'Times New Roman',Times,serif; color: rgb(0, 0, 0);">Additional benefits, which their aggregate value for each of our Executives shall not exceed 15% of such Executive's annual base salary (excluding with respect
                    to relocation).</div>
                </td>
              </tr>

          </table>
          <div style="line-height: 1.25; color: rgb(0, 0, 0);">&#160;</div>
          <table cellspacing="0" cellpadding="0" id="zec1ff18df7634ceba472ca95661d35d0" class="DSPFListTable" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

              <tr>
                <td style="width: 30pt;"><font style="color: rgb(0, 0, 0);"><br>
                  </font> </td>
                <td style="width: 17.45pt; vertical-align: top; font-family: 'Times New Roman',Times,serif; color: rgb(0, 0, 0);">6.</td>
                <td style="width: auto; vertical-align: top;">
                  <div style="font-family: 'Times New Roman',Times,serif; font-weight: bold; color: rgb(0, 0, 0);"><u>Variable Components</u></div>
                </td>
              </tr>

          </table>
          <div> <font style="color: rgb(0, 0, 0);"><br>
            </font> </div>
          <table cellspacing="0" cellpadding="0" id="z3e7491d42b434eee82b659b8488c5f92" class="DSPFListTable" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

              <tr>
                <td style="width: 52.4pt;"><font style="color: rgb(0, 0, 0);"><br>
                  </font> </td>
                <td style="width: 21.6pt; vertical-align: top; font-family: 'Times New Roman',Times,serif; color: rgb(0, 0, 0);">6.1.</td>
                <td style="width: auto; vertical-align: top; text-align: justify;">
                  <div style="font-family: 'Times New Roman',Times,serif; color: rgb(0, 0, 0);">When determining the variable components as part of an Executive's compensation package, the contribution of the Executive to the achievement of the Company&#8217;s
                    goals, revenues, profitability and other key performance indicators ("<font style="font-weight: bold;">KPIs</font>") shall be considered, taking into account Company and department&#8217;s long term perspective and the Executive&#8217;s position.</div>
                </td>
              </tr>

          </table>
          <div style="line-height: 1.25; color: rgb(0, 0, 0);">&#160;</div>
          <table cellspacing="0" cellpadding="0" id="z2d3cb27a2b514205a606f34c556475d3" class="DSPFListTable" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

              <tr>
                <td style="width: 52.4pt;"><font style="color: rgb(0, 0, 0);"><br>
                  </font> </td>
                <td style="width: 21.6pt; vertical-align: top; font-family: 'Times New Roman',Times,serif; color: rgb(0, 0, 0);">6.2.</td>
                <td style="width: auto; vertical-align: top; text-align: justify;">
                  <div style="font-family: 'Times New Roman',Times,serif; color: rgb(0, 0, 0);">Variable compensation components shall be comprised of cash components which shall be mostly based on measurable criteria and on equity components, all taking
                    into consideration periodical and a long term perspective.</div>
                </td>
              </tr>

          </table>
          <div> <font style="color: rgb(0, 0, 0);"><br>
            </font> </div>
          <table cellspacing="0" cellpadding="0" id="z1a6202b00c7e4cd0aef2be417ea52dff" class="DSPFListTable" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

              <tr>
                <td style="width: 52.4pt;"><font style="color: rgb(0, 0, 0);"><br>
                  </font> </td>
                <td style="width: 24.65pt; vertical-align: top; font-family: 'Times New Roman',Times,serif; color: rgb(0, 0, 0);">6.3.</td>
                <td style="width: auto; vertical-align: top; text-align: justify;">
                  <div style="font-family: 'Times New Roman',Times,serif; color: rgb(0, 0, 0);">The Board of Directors shall have the absolute discretion to reduce or cancel any cash incentive.</div>
                </td>
              </tr>

          </table>
          <div class="BRPFPageFooter">
            <div style="line-height: 1.25; color: rgb(0, 0, 0);">&#160;</div>
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              <div class="BRPFPageNumberArea"><font style="font-family: 'Times New Roman',Times,serif; color: rgb(0, 0, 0); font-weight: normal; font-style: normal;" class="BRPFPageNumber">A - 4</font></div>
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          <div style="text-align: justify; margin-left: 26pt; line-height: 1.25; font-family: 'Times New Roman',Times,serif; font-weight: bold; color: rgb(0, 0, 0);"><u>Cash Incentives</u></div>
          <div style="text-align: justify; margin-left: 26pt; line-height: 1.25; font-family: 'Times New Roman',Times,serif; font-weight: bold; color: rgb(0, 0, 0);"><u> <br>
            </u></div>
          <table cellspacing="0" cellpadding="0" id="zb6544b7747c045eea5800fd23b16e576" class="DSPFListTable" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

              <tr>
                <td style="width: 52.4pt;"><font style="color: rgb(0, 0, 0);"><br>
                  </font> </td>
                <td style="width: 21.6pt; vertical-align: top; font-family: 'Times New Roman',Times,serif; color: rgb(0, 0, 0);">6.4.</td>
                <td style="width: auto; vertical-align: top; text-align: justify;">
                  <div style="font-family: 'Times New Roman',Times,serif; font-weight: bold; color: rgb(0, 0, 0);"><u>Variable Cash Incentive Plan</u></div>
                </td>
              </tr>

          </table>
          <div> <font style="color: rgb(0, 0, 0);"><br>
            </font> </div>
          <table cellspacing="0" cellpadding="0" id="za5d2cc9d7dc6428489a7275a756522f1" class="DSPFListTable" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

              <tr>
                <td style="width: 76.4pt;"><font style="color: rgb(0, 0, 0);"><br>
                  </font> </td>
                <td style="width: 31.45pt; vertical-align: top; font-family: 'Times New Roman',Times,serif; color: rgb(0, 0, 0);">6.4.1.</td>
                <td style="width: auto; vertical-align: top; text-align: justify;">
                  <div style="font-family: 'Times New Roman',Times,serif; color: rgb(0, 0, 0);">The cash incentive compensation are cash payments to the Executives that vary based on the Company and department&#8217;s performance and on the Executives individual
                    performance and contribution to the Company.</div>
                </td>
              </tr>

          </table>
          <div> <font style="color: rgb(0, 0, 0);"><br>
            </font> </div>
          <table cellspacing="0" cellpadding="0" id="z9cdd7d3e6123482f81c05affc0cf0740" class="DSPFListTable" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

              <tr>
                <td style="width: 76.4pt;"><font style="color: rgb(0, 0, 0);"><br>
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                <td style="width: 31.45pt; vertical-align: top; font-family: 'Times New Roman',Times,serif; color: rgb(0, 0, 0);">6.4.2.</td>
                <td style="width: auto; vertical-align: top; text-align: justify;">
                  <div style="font-family: 'Times New Roman',Times,serif; color: rgb(0, 0, 0);">For each calendar year, our Compensation Committee and Board of Directors shall adopt a Cash Incentive Plan which will set forth for each Executive targets
                    which form such Executive's on target Cash payment (which shall be referred to as the &#8220;<font style="font-weight: bold;">On Target Cash Plan</font>&#8221;) and the rules or formula for calculation of the On Target Cash Plan payment once actual
                    achievements are known.</div>
                </td>
              </tr>

          </table>
          <div> <font style="color: rgb(0, 0, 0);"><br>
            </font> </div>
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              <tr>
                <td style="width: 76.4pt;"><font style="color: rgb(0, 0, 0);"><br>
                  </font> </td>
                <td style="width: 31.45pt; vertical-align: top; font-family: 'Times New Roman',Times,serif; color: rgb(0, 0, 0);">6.4.3.</td>
                <td style="width: auto; vertical-align: top; text-align: justify;">
                  <div style="font-family: 'Times New Roman',Times,serif; color: rgb(0, 0, 0);">The Compensation committee and Board of Directors may include in the On Target Cash Plan predetermined thresholds, caps, multipliers, accelerators and
                    deccelerators to corelate an Executive&#8217;s On Target Cash Plan payments with actual achievements.</div>
                </td>
              </tr>

          </table>
          <div style="line-height: 1.25; color: rgb(0, 0, 0);">&#160;</div>
          <table cellspacing="0" cellpadding="0" id="z751895af19e3475cb705ec84f82432c5" class="DSPFListTable" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

              <tr>
                <td style="width: 76.4pt;"><font style="color: rgb(0, 0, 0);"><br>
                  </font> </td>
                <td style="width: 31.45pt; vertical-align: top; font-family: 'Times New Roman',Times,serif; color: rgb(0, 0, 0);">6.4.4.</td>
                <td style="width: auto; vertical-align: top; text-align: justify;">
                  <div style="font-family: 'Times New Roman',Times,serif; color: rgb(0, 0, 0);">The annual On Target Cash Plan of each Executive shall be calculated as a percentage of such Executive&#8217;s annual base salary, which shall not exceed 100% for
                    each Executive.</div>
                </td>
              </tr>

          </table>
          <div> <font style="color: rgb(0, 0, 0);"><br>
            </font> </div>
          <table cellspacing="0" cellpadding="0" id="zd53fab597ee3412a85a43799ab7b01c6" class="DSPFListTable" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

              <tr>
                <td style="width: 76.4pt;"><font style="color: rgb(0, 0, 0);"><br>
                  </font> </td>
                <td style="width: 31.45pt; vertical-align: top; font-family: 'Times New Roman',Times,serif; color: rgb(0, 0, 0);">6.4.5.</td>
                <td style="width: auto; vertical-align: top; text-align: justify;">
                  <div style="font-family: 'Times New Roman',Times,serif; color: rgb(0, 0, 0);">The annual Cash Plan actual payment for each Executive in a given year shall be capped as determined by our Board of Directors, but in no event shall exceed
                    250% of such Executive's On Target Cash Plan.</div>
                </td>
              </tr>

          </table>
          <div> <font style="color: rgb(0, 0, 0);"><br>
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              <tr>
                <td style="width: 76.4pt;"><font style="color: rgb(0, 0, 0);"><br>
                  </font> </td>
                <td style="width: 31.45pt; vertical-align: top; font-family: 'Times New Roman',Times,serif; color: rgb(0, 0, 0);">6.4.6.</td>
                <td style="width: auto; vertical-align: top; text-align: justify;">
                  <div style="font-family: 'Times New Roman',Times,serif; color: rgb(0, 0, 0);">At least 80% of the targets shall be measurable. Such targets may include, among others, one or more of the following as may be relevant, with respect to the
                    Executive:</div>
                </td>
              </tr>

          </table>
          <div> <font style="color: rgb(0, 0, 0);"><br>
            </font> </div>
          <table cellspacing="0" cellpadding="0" id="z1833b25659ca4bff88a2704ea96c5fe0" class="DSPFListTable" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

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                <td style="width: 106.95pt;"><font style="color: rgb(0, 0, 0);"><br>
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                <td style="width: 18.05pt; vertical-align: top; font-family: 'Times New Roman',Times,serif; color: rgb(0, 0, 0);">&#8226;</td>
                <td style="width: auto; vertical-align: top;">
                  <div style="font-family: 'Times New Roman',Times,serif; color: rgb(0, 0, 0);">Company/ Region Net Profit</div>
                </td>
              </tr>

          </table>
          <div> <font style="color: rgb(0, 0, 0);"><br>
            </font> </div>
          <table cellspacing="0" cellpadding="0" id="z509f660ff02d4f1baf85c53ca6d69fe4" class="DSPFListTable" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

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                <td style="width: 106.95pt;"><font style="color: rgb(0, 0, 0);"><br>
                  </font> </td>
                <td style="width: 18.05pt; vertical-align: top; font-family: 'Times New Roman',Times,serif; color: rgb(0, 0, 0);">&#8226;</td>
                <td style="width: auto; vertical-align: top;">
                  <div style="font-family: 'Times New Roman',Times,serif; color: rgb(0, 0, 0);">Company/ Region Net Income</div>
                </td>
              </tr>

          </table>
          <div> <font style="color: rgb(0, 0, 0);"><br>
            </font> </div>
          <table cellspacing="0" cellpadding="0" id="z2f9e30df4107414685340c3c61364b23" class="DSPFListTable" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

              <tr>
                <td style="width: 106.95pt;"><font style="color: rgb(0, 0, 0);"><br>
                  </font> </td>
                <td style="width: 18.05pt; vertical-align: top; font-family: 'Times New Roman',Times,serif; color: rgb(0, 0, 0);">&#8226;</td>
                <td style="width: auto; vertical-align: top;">
                  <div style="font-family: 'Times New Roman',Times,serif; color: rgb(0, 0, 0);">Company/ Region Revenues</div>
                </td>
              </tr>

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          <div> <font style="color: rgb(0, 0, 0);"><br>
            </font> </div>
          <table cellspacing="0" cellpadding="0" id="z9d7ad4f7161c4af49bad7970f1caee62" class="DSPFListTable" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

              <tr>
                <td style="width: 106.95pt;"><font style="color: rgb(0, 0, 0);"><br>
                  </font> </td>
                <td style="width: 18.05pt; vertical-align: top; font-family: 'Times New Roman',Times,serif; color: rgb(0, 0, 0);">&#8226;</td>
                <td style="width: auto; vertical-align: top;">
                  <div style="font-family: 'Times New Roman',Times,serif; color: rgb(0, 0, 0);">Company/ Region Operating Income</div>
                </td>
              </tr>

          </table>
          <div> <font style="color: rgb(0, 0, 0);"><br>
            </font> </div>
          <table cellspacing="0" cellpadding="0" id="z595bb1b4c89144f89a4d2cea4d7f4010" class="DSPFListTable" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

              <tr>
                <td style="width: 106.95pt;"><font style="color: rgb(0, 0, 0);"><br>
                  </font> </td>
                <td style="width: 18.05pt; vertical-align: top; font-family: 'Times New Roman',Times,serif; color: rgb(0, 0, 0);">&#8226;</td>
                <td style="width: auto; vertical-align: top;">
                  <div style="font-family: 'Times New Roman',Times,serif; color: rgb(0, 0, 0);">Pre-tax profits above previous fiscal year</div>
                </td>
              </tr>

          </table>
          <div style="line-height: 1.25; color: rgb(0, 0, 0);">&#160;</div>
          <table cellspacing="0" cellpadding="0" id="zb96aad301bf649c6bb8728958d4b1ce9" class="DSPFListTable" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

              <tr>
                <td style="width: 106.95pt;"><font style="color: rgb(0, 0, 0);"><br>
                  </font> </td>
                <td style="width: 18.05pt; vertical-align: top; font-family: 'Times New Roman',Times,serif; color: rgb(0, 0, 0);">&#8226;</td>
                <td style="width: auto; vertical-align: top;">
                  <div style="font-family: 'Times New Roman',Times,serif; color: rgb(0, 0, 0);">Company/ Region Bookings</div>
                </td>
              </tr>

          </table>
          <div> <font style="color: rgb(0, 0, 0);"><br>
            </font> </div>
          <table cellspacing="0" cellpadding="0" id="zbebda5e0aa48432bb5364aeaa18cbe5f" class="DSPFListTable" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

              <tr>
                <td style="width: 106.95pt;"><font style="color: rgb(0, 0, 0);"><br>
                  </font> </td>
                <td style="width: 18.05pt; vertical-align: top; font-family: 'Times New Roman',Times,serif; color: rgb(0, 0, 0);">&#8226;</td>
                <td style="width: auto; vertical-align: top;">
                  <div style="font-family: 'Times New Roman',Times,serif; color: rgb(0, 0, 0);">Collection</div>
                </td>
              </tr>

          </table>
          <div> <font style="color: rgb(0, 0, 0);"><br>
            </font> </div>
          <table cellspacing="0" cellpadding="0" id="zbdbf02c7e209423caa0c9911a447ac0a" class="DSPFListTable" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

              <tr>
                <td style="width: 106.95pt;"><font style="color: rgb(0, 0, 0);"><br>
                  </font> </td>
                <td style="width: 18.05pt; vertical-align: top; font-family: 'Times New Roman',Times,serif; color: rgb(0, 0, 0);">&#8226;</td>
                <td style="width: auto; vertical-align: top;">
                  <div style="font-family: 'Times New Roman',Times,serif; color: rgb(0, 0, 0);">Customer satisfaction ("CSAT")</div>
                </td>
              </tr>

          </table>
          <div> <font style="color: rgb(0, 0, 0);"><br>
            </font> </div>
          <table cellspacing="0" cellpadding="0" id="zc705119a15f742e9b59215bc65b425f6" class="DSPFListTable" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

              <tr>
                <td style="width: 106.95pt;"><font style="color: rgb(0, 0, 0);"><br>
                  </font> </td>
                <td style="width: 18.05pt; vertical-align: top; font-family: 'Times New Roman',Times,serif; color: rgb(0, 0, 0);">&#8226;</td>
                <td style="width: auto; vertical-align: top;">
                  <div style="font-family: 'Times New Roman',Times,serif; color: rgb(0, 0, 0);">Cash flow</div>
                </td>
              </tr>

          </table>
          <div> <font style="color: rgb(0, 0, 0);"><br>
            </font> </div>
          <table cellspacing="0" cellpadding="0" id="za7e2432c00b44788b26f4ce57c5584ce" class="DSPFListTable" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

              <tr>
                <td style="width: 106.95pt;"><font style="color: rgb(0, 0, 0);"><br>
                  </font> </td>
                <td style="width: 18.05pt; vertical-align: top; font-family: 'Times New Roman',Times,serif; color: rgb(0, 0, 0);">&#8226;</td>
                <td style="width: auto; vertical-align: top;">
                  <div style="font-family: 'Times New Roman',Times,serif; color: rgb(0, 0, 0);">KPIs</div>
                </td>
              </tr>

          </table>
          <div> <font style="color: rgb(0, 0, 0);"><br>
            </font> </div>
          <table cellspacing="0" cellpadding="0" id="ze9d87e1634544696887bf4ee204fd622" class="DSPFListTable" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

              <tr>
                <td style="width: 106.95pt;"><font style="color: rgb(0, 0, 0);"><br>
                  </font> </td>
                <td style="width: 18.05pt; vertical-align: top; font-family: 'Times New Roman',Times,serif; color: rgb(0, 0, 0);">&#8226;</td>
                <td style="width: auto; vertical-align: top;">
                  <div style="font-family: 'Times New Roman',Times,serif; color: rgb(0, 0, 0);">EPS</div>
                </td>
              </tr>

          </table>
          <div style="line-height: 1.25;"><font style="color: rgb(0, 0, 0);">&#160; <br>
            </font> </div>
          <div style="text-align: left; margin-left: 104.35pt; line-height: 1.25; font-family: 'Times New Roman',Times,serif; color: rgb(0, 0, 0);">All financial targets mentioned above may use either GAAP or NON-GAAP measurements.</div>
          <div style="line-height: 1.25; color: rgb(0, 0, 0);">&#160;</div>
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              <tr>
                <td style="width: 106.95pt;"><font style="color: rgb(0, 0, 0);"><br>
                  </font> </td>
                <td style="width: 36.05pt; vertical-align: top; font-family: 'Times New Roman',Times,serif; color: rgb(0, 0, 0);">6.4.6.1.</td>
                <td style="width: auto; vertical-align: top; text-align: justify;">
                  <div style="font-family: 'Times New Roman',Times,serif; color: rgb(0, 0, 0);">The targets, as well as their weight, shall be determined in accordance with the Executive&#8217;s position, the Executive&#8217;s individual role, and the Company&#8217;s and
                    department&#8217;s long term and short term targets. The measurable targets shall include one or more financial targets on a Company and/or region level weighing together, at least 50% of the On Target Cash Plan. (The Compensation committee
                    and Board of Directors may, under special circumstances, determine that the financial targets with respect to a certain executive shall be derived, to the extent it is financially measurable, from a specific material transaction or
                    activity.)</div>
                </td>
              </tr>

          </table>
          <div class="BRPFPageFooter">
            <div style="line-height: 1.25; color: rgb(0, 0, 0);">&#160;</div>
            <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" class="BRPFPageBreakArea">
              <div class="BRPFPageNumberArea"><font style="font-family: 'Times New Roman',Times,serif; color: rgb(0, 0, 0); font-weight: normal; font-style: normal;" class="BRPFPageNumber">A - 5</font></div>
              <div style="page-break-after: always;" class="BRPFPageBreak">
                <hr noshade="noshade" style="border-width: 0px; clear: both; margin: 4px 0px; width: 100%; height: 2px; color: #000000; background-color: #000000;"></div>
            </div>
          </div>
          <table cellspacing="0" cellpadding="0" id="z16c9779b6e114647bfed4d3dd5e0416d" class="DSPFListTable" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

              <tr>
                <td style="width: 106.95pt;"><font style="color: rgb(0, 0, 0);"><br>
                  </font> </td>
                <td style="width: 36.05pt; vertical-align: top; font-family: 'Times New Roman',Times,serif; color: rgb(0, 0, 0);">6.4.6.2.</td>
                <td style="width: auto; vertical-align: top; text-align: justify;">
                  <div style="font-family: 'Times New Roman',Times,serif; color: rgb(0, 0, 0);">With respect to an Executive managing a department / region - at least 20% of the On Target Cash Plan shall be measurable target based on a department / region
                    level.</div>
                </td>
              </tr>

          </table>
          <div style="line-height: 1.25; color: rgb(0, 0, 0);">&#160;</div>
          <table cellspacing="0" cellpadding="0" id="z87fa2fd084eb42c99dcec620567ae595" class="DSPFListTable" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

              <tr>
                <td style="width: 76.4pt;"><font style="color: rgb(0, 0, 0);"><br>
                  </font> </td>
                <td style="width: 31.45pt; vertical-align: top; font-family: 'Times New Roman',Times,serif; color: rgb(0, 0, 0);">6.4.7.</td>
                <td style="width: auto; vertical-align: top; text-align: justify;">
                  <div style="font-family: 'Times New Roman',Times,serif; color: rgb(0, 0, 0);">Up to 20% of the targets shall be based on non-measurable criteria; provided that with respect to all Executives except our CEO, our Compensation Committee and
                    our Board of Directors may increase the portion of targets that are based on non-measurable criteria above the rate of 20%, up to the maximum portion permissible pursuant to the Law, but not to more than 50%. Such non- measurable
                    criteria will be concluded, among others, by assessing the Executive's performance during the year, the contribution of the Executive to the achievement of the Company's goals, and the evaluation of the Executive by the CEO/Board of
                    Directors, as relevant.</div>
                </td>
              </tr>

          </table>
          <div style="line-height: 1.25; color: rgb(0, 0, 0);">&#160;</div>
          <table cellspacing="0" cellpadding="0" id="z20f9443ae3f84907ad9e41808d0ab26b" class="DSPFListTable" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

              <tr>
                <td style="width: 76.4pt;"><font style="color: rgb(0, 0, 0);"><br>
                  </font> </td>
                <td style="width: 31.45pt; vertical-align: top; font-family: 'Times New Roman',Times,serif; color: rgb(0, 0, 0);">6.4.8.</td>
                <td style="width: auto; vertical-align: top; text-align: justify;">
                  <div style="font-family: 'Times New Roman',Times,serif; color: rgb(0, 0, 0);">The Board of Directors shall be authorized, under circumstances it deems exceptional, when the Company's targets are amended during a particular year, to
                    determine whether, and in which manner, such amendment shall apply to the On Target Cash Plan.</div>
                </td>
              </tr>

          </table>
          <div> <font style="color: rgb(0, 0, 0);"><br>
            </font> </div>
          <table cellspacing="0" cellpadding="0" id="zb067466b71ee4b988b6af3a72e341c8f" class="DSPFListTable" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

              <tr>
                <td style="width: 76.4pt;"><font style="color: rgb(0, 0, 0);"><br>
                  </font> </td>
                <td style="width: 31.45pt; vertical-align: top; font-family: 'Times New Roman',Times,serif; color: rgb(0, 0, 0);">6.4.9.</td>
                <td style="width: auto; vertical-align: top; text-align: justify;">
                  <div style="font-family: 'Times New Roman',Times,serif; color: rgb(0, 0, 0);">The Board of Directors shall annually determine a threshold(s) with respect to the Company&#8217;s targets under which no On Target Cash Plan payments shall be
                    distributed.</div>
                </td>
              </tr>

          </table>
          <div style="line-height: 1.25; color: rgb(0, 0, 0);">&#160;</div>
          <table cellspacing="0" cellpadding="0" id="zf3d629a2df854188a4d0ee1fd8c6f3a7" class="DSPFListTable" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

              <tr>
                <td style="width: 76.4pt;"><font style="color: rgb(0, 0, 0);"><br>
                  </font> </td>
                <td style="width: 31.45pt; vertical-align: top; font-family: 'Times New Roman',Times,serif; color: rgb(0, 0, 0);">6.4.10.</td>
                <td style="width: auto; vertical-align: top; text-align: justify;">
                  <div style="font-family: 'Times New Roman',Times,serif; color: rgb(0, 0, 0);">Adjustment to the Company and/or department targets may be made, when applicable, following major acquisitions, divestures, organizational changes or material
                    changes in the business environment.</div>
                </td>
              </tr>

          </table>
          <div style="line-height: 1.25; color: rgb(0, 0, 0);">&#160;</div>
          <table cellspacing="0" cellpadding="0" id="zc778d664d2ca4842a59c41b33d5ba4a7" class="DSPFListTable" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

              <tr>
                <td style="width: 52.4pt;"><font style="color: rgb(0, 0, 0);"><br>
                  </font> </td>
                <td style="width: 21.6pt; vertical-align: top; font-family: 'Times New Roman',Times,serif; color: rgb(0, 0, 0);">6.5.</td>
                <td style="width: auto; vertical-align: top;">
                  <div style="font-family: 'Times New Roman',Times,serif; font-weight: bold; color: rgb(0, 0, 0);">Change In Control Cash Payment</div>
                </td>
              </tr>

          </table>
          <div style="line-height: 1.25; color: rgb(0, 0, 0);">&#160;</div>
          <div style="text-align: justify; margin-right: 13.85pt; margin-left: 78.2pt; line-height: 1.25; font-family: 'Times New Roman',Times,serif; color: rgb(0, 0, 0);">Our Compensation Committee and Board of Directors shall be authorized to grant an
            Executive, in connection with an event of a " Corporate Transaction" of our Company (as defined in the Company's most recent equity plan, currently the Ceragon Networks Ltd. Amended and Restated Share Option and RSU Plan), with a cash payment
            of up to 200% of such Executive's annual base salary.</div>
          <div style="line-height: 1.25;"><font style="color: rgb(0, 0, 0);">&#160;<br>
            </font> </div>
          <div style="text-align: justify; margin-left: 26pt; line-height: 1.25; font-family: 'Times New Roman',Times,serif; font-weight: bold; color: rgb(0, 0, 0);"><u>Equity Based Compensation</u></div>
          <div style="text-align: justify; margin-left: 26pt; line-height: 1.25; font-family: 'Times New Roman',Times,serif; font-weight: bold; color: rgb(0, 0, 0);"><u> <br>
            </u></div>
          <table cellspacing="0" cellpadding="0" id="z84d79a0d76a74409822ac97a7c387632" class="DSPFListTable" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

              <tr>
                <td style="width: 52.4pt;"><font style="color: rgb(0, 0, 0);"><br>
                  </font> </td>
                <td style="width: 21.6pt; vertical-align: top; font-family: 'Times New Roman',Times,serif; color: rgb(0, 0, 0);">6.6.</td>
                <td style="width: auto; vertical-align: top; text-align: justify;">
                  <div style="font-family: 'Times New Roman',Times,serif; color: rgb(0, 0, 0);">The Company shall grant its Executives, from time to time, equity based compensation, which may include any type of equity, including, without limitation, any
                    type of shares, options, restricted share units (RSUs), share appreciation rights, restricted shares or other shares based awards (&#8220;<font style="font-weight: bold;">Equity Based Components</font>&#8221;), under the Ceragon Networks Ltd.
                    Amended and Restated Share Option and RSU Plan or future equity plan (as may be adopted by the Company), and subject to any applicable law. The Company believes that it is not in its best interest to limit the exercise value of Equity
                    Based Component<font style="font-style: italic;">s.</font></div>
                </td>
              </tr>

          </table>
          <div class="BRPFPageFooter">
            <div style="line-height: 1.25;"><font style="color: rgb(0, 0, 0);"><br style="line-height: 1.25;">
              </font> </div>
            <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" class="BRPFPageBreakArea">
              <div class="BRPFPageNumberArea"><font style="font-family: 'Times New Roman',Times,serif; color: rgb(0, 0, 0); font-weight: normal; font-style: normal;" class="BRPFPageNumber">A - 6</font></div>
              <div style="page-break-after: always;" class="BRPFPageBreak">
                <hr noshade="noshade" style="border-width: 0px; clear: both; margin: 4px 0px; width: 100%; height: 2px; color: #000000; background-color: #000000;"></div>
            </div>
          </div>
          <table cellspacing="0" cellpadding="0" id="zccd2f02fe6cc41f6a19462bee39b2ec6" class="DSPFListTable" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

              <tr>
                <td style="width: 52.4pt;"><font style="color: rgb(0, 0, 0);"><br>
                  </font> </td>
                <td style="width: 21.6pt; vertical-align: top; font-family: 'Times New Roman',Times,serif; color: rgb(0, 0, 0);">6.7.</td>
                <td style="width: auto; vertical-align: top; text-align: justify;">
                  <div style="font-family: 'Times New Roman',Times,serif; color: rgb(0, 0, 0);">Equity Based Components for Executives shall be in accordance with and subject to the terms of our existing or future equity plan and shall vest in installments
                    throughout a period which shall not be shorter than 3 years with at least a 1 year cliff, taking into account adequate incentives in a long term perspective.</div>
                </td>
              </tr>

          </table>
          <div> <font style="color: rgb(0, 0, 0);"><br>
            </font> </div>
          <table cellspacing="0" cellpadding="0" id="zd33f17d3525b42be83493ad3fd6b1ae0" class="DSPFListTable" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

              <tr>
                <td style="width: 52.4pt;"><font style="color: rgb(0, 0, 0);"><br>
                  </font> </td>
                <td style="width: 21.6pt; vertical-align: top; font-family: 'Times New Roman',Times,serif; color: rgb(0, 0, 0);">6.8.</td>
                <td style="width: auto; vertical-align: top; text-align: justify;">
                  <div style="font-family: 'Times New Roman',Times,serif; color: rgb(0, 0, 0);">The Company shall balance the mixture of Equity Based Components taking into account the importance of motivating its Executives as well as its shareholders&#8217;
                    interest in limiting dilution from equity awards.</div>
                </td>
              </tr>

          </table>
          <div> <font style="color: rgb(0, 0, 0);"><br>
            </font> </div>
          <table cellspacing="0" cellpadding="0" id="z2ca5d6c0724344818ce28d92e1a396f7" class="DSPFListTable" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

              <tr>
                <td style="width: 52.4pt;"><font style="color: rgb(0, 0, 0);"><br>
                  </font> </td>
                <td style="width: 21.6pt; vertical-align: top; font-family: 'Times New Roman',Times,serif; color: rgb(0, 0, 0);">6.9.</td>
                <td style="width: auto; vertical-align: top; text-align: justify;">
                  <div style="font-family: 'Times New Roman',Times,serif; color: rgb(0, 0, 0);">When determining grants of Equity Based Components to Executives, the Compensation Committee and the Board of Directors shall take into account the interests of
                    the Company&#8217;s investors and the effect of such grants on the dilution of its shareholders.</div>
                </td>
              </tr>

          </table>
          <div style="line-height: 1.25; color: rgb(0, 0, 0);">&#160;</div>
          <table cellspacing="0" cellpadding="0" id="z1ec124584b7149b29a27d337af5eecc5" class="DSPFListTable" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

              <tr>
                <td style="width: 52.4pt;"><font style="color: rgb(0, 0, 0);"><br>
                  </font> </td>
                <td style="width: 21.6pt; vertical-align: top; font-family: 'Times New Roman',Times,serif; color: rgb(0, 0, 0);">6.10.</td>
                <td style="width: auto; vertical-align: top; text-align: justify;">
                  <div style="font-family: 'Times New Roman',Times,serif; color: rgb(0, 0, 0);">The total yearly Equity Value granted shall not exceed with respect to the CEO - 550% of his annual base salary and with respect to all other Executives 350% of
                    such Executive's annual base salary.</div>
                </td>
              </tr>

          </table>
          <div> <font style="color: rgb(0, 0, 0);"><br>
            </font> </div>
          <table cellspacing="0" cellpadding="0" id="zfd3bf398364c48bc9fea10b715567311" class="DSPFListTable" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

              <tr>
                <td style="width: 52.4pt;"><font style="color: rgb(0, 0, 0);"><br>
                  </font> </td>
                <td style="width: 21.6pt; vertical-align: top; font-family: 'Times New Roman',Times,serif; color: rgb(0, 0, 0);">6.11.</td>
                <td style="width: auto; vertical-align: top; text-align: justify;">
                  <div style="font-family: 'Times New Roman',Times,serif; color: rgb(0, 0, 0);">In an event of "Corporate Transaction", unvested Equity Based Components may, at the discretion of the Compensation Committee and the Board of directors, be
                    accelerated, under a double trigger mechanism, as provided in the Company's equity plan<font style="font-weight: bold; font-style: italic;">. </font>Company's policy is not to re-price the exercise price of any outstanding security
                    granted to its Executives without prior approval of its shareholders.</div>
                </td>
              </tr>

          </table>
          <div style="line-height: 1.25;"><font style="color: rgb(0, 0, 0);"><br style="line-height: 1.25;">
            </font> </div>
          <table cellspacing="0" cellpadding="0" id="z5b30897916d546deae5335b2eaae3e92" class="DSPFListTable" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

              <tr>
                <td style="width: 30pt;"><font style="color: rgb(0, 0, 0);"><br>
                  </font> </td>
                <td style="width: 17.45pt; vertical-align: top; font-family: 'Times New Roman',Times,serif; color: rgb(0, 0, 0);">7.</td>
                <td style="width: auto; vertical-align: top;">
                  <div style="font-family: 'Times New Roman',Times,serif; font-weight: bold; color: rgb(0, 0, 0);"><u>Separation Package</u></div>
                </td>
              </tr>

          </table>
          <div style="line-height: 1.25;"><font style="color: rgb(0, 0, 0);">&#160; <br>
            </font> </div>
          <table cellspacing="0" cellpadding="0" id="z5ac96c3c6d3948ce97e36dd35855d969" class="DSPFListTable" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

              <tr>
                <td style="width: 52.4pt;"><font style="color: rgb(0, 0, 0);"><br>
                  </font> </td>
                <td style="width: 21.6pt; vertical-align: top; font-family: 'Times New Roman',Times,serif; color: rgb(0, 0, 0);">7.1.</td>
                <td style="width: auto; vertical-align: top; text-align: justify;">
                  <div style="font-family: 'Times New Roman',Times,serif; color: rgb(0, 0, 0);">The following criteria shall be taken into consideration when determining Separation Package: the duration of employment of the Executive, the terms of
                    employment, the Company&#8217;s performance during such term, the Executive&#8217;s contribution to achieving the Company&#8217;s goals and revenues and the retirement&#8217;s circumstances.</div>
                </td>
              </tr>

          </table>
          <div> <font style="color: rgb(0, 0, 0);"><br>
            </font> </div>
          <table cellspacing="0" cellpadding="0" id="z34b009f0b3784c23a000183168f42de5" class="DSPFListTable" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

              <tr>
                <td style="width: 52.4pt;"><font style="color: rgb(0, 0, 0);"><br>
                  </font> </td>
                <td style="width: 21.6pt; vertical-align: top; font-family: 'Times New Roman',Times,serif; color: rgb(0, 0, 0);">7.2.</td>
                <td style="width: auto; vertical-align: top; text-align: justify;">
                  <div style="font-family: 'Times New Roman',Times,serif; color: rgb(0, 0, 0);">As a guideline, the notice period for the termination of an Executive shall not exceed 6 months or payment in lieu of such notice. In special circumstances, our
                    Compensation Committee and Board of Directors shall be authorized to increase the notice period or the payment in lieu such notice by up to additional 12 months, provided, however, that the maximum Separation Package of each Executive
                    shall not exceed 18 monthly salaries of such Executive (excluding vesting of unvested equity pursuant to a double trigger acceleration mechanism, if applicable).</div>
                </td>
              </tr>

          </table>
          <div style="text-align: justify; margin-right: 14pt; margin-left: 65pt; line-height: 1.25; font-family: 'Times New Roman',Times,serif;"><font style="color: rgb(0, 0, 0);"><br>
            </font> </div>
          <table cellspacing="0" cellpadding="0" id="zbcec6d83ecd1459c8c566ff2ad6fd777" class="DSPFListTable" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

              <tr>
                <td style="width: 30pt;"><font style="color: rgb(0, 0, 0);"><br>
                  </font> </td>
                <td style="width: 17.45pt; vertical-align: top; font-family: 'Times New Roman',Times,serif; color: rgb(0, 0, 0);">8.</td>
                <td style="width: auto; vertical-align: top;">
                  <div style="font-family: 'Times New Roman',Times,serif; font-weight: bold; color: rgb(0, 0, 0);"><u>Others</u></div>
                </td>
              </tr>

          </table>
          <div> <font style="color: rgb(0, 0, 0);"><br>
            </font> </div>
          <table cellspacing="0" cellpadding="0" id="zb8dc72db7a01480bab633a8a3c803f31" class="DSPFListTable" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

              <tr>
                <td style="width: 52.4pt;"><font style="color: rgb(0, 0, 0);"><br>
                  </font> </td>
                <td style="width: 21.6pt; vertical-align: top; font-family: 'Times New Roman',Times,serif; color: rgb(0, 0, 0);">8.1.</td>
                <td style="width: auto; vertical-align: top; text-align: justify;">
                  <div style="font-size: 12pt;"><font style="font-size: 10pt; font-family: 'Times New Roman',Times,serif; font-weight: bold; color: rgb(0, 0, 0);">Non-Material Changes </font><font style="font-size: 10pt; color: rgb(0, 0, 0);">- the
                      Company's CEO shall be entitled to determine that non- material changes (i.e. changes not exceeding an amount equal to two monthly base salaries for any calendar year) may be made to the terms of the benefits and perquisites, but not
                      to the base salary or variable components, of all Executives reporting, directly, or indirectly, to the CEO, without seeking the approval of the Compensation Committee.</font></div>
                </td>
              </tr>

          </table>
          <div class="BRPFPageFooter">
            <div style="line-height: 1.25;"><font style="color: rgb(0, 0, 0);"><br style="line-height: 1.25;">
              </font> </div>
            <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" class="BRPFPageBreakArea">
              <div class="BRPFPageNumberArea"><font style="font-family: 'Times New Roman',Times,serif; color: rgb(0, 0, 0); font-weight: normal; font-style: normal;" class="BRPFPageNumber">A - 7</font></div>
              <div style="page-break-after: always;" class="BRPFPageBreak">
                <hr noshade="noshade" style="border-width: 0px; clear: both; margin: 4px 0px; width: 100%; height: 2px; color: #000000; background-color: #000000;"></div>
            </div>
          </div>
          <table cellspacing="0" cellpadding="0" id="z3a9f60519b2e49a39cdcc2b39760f744" class="DSPFListTable" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

              <tr>
                <td style="width: 52.4pt;"><font style="color: rgb(0, 0, 0);"><br>
                  </font> </td>
                <td style="width: 21.6pt; vertical-align: top; font-family: 'Times New Roman',Times,serif; color: rgb(0, 0, 0);">8.2.</td>
                <td style="width: auto; vertical-align: top; text-align: justify;">
                  <div style="font-size: 12pt;"><font style="font-size: 10pt; font-family: 'Times New Roman',Times,serif; font-weight: bold; color: rgb(0, 0, 0);">Relocation</font><font style="font-size: 10pt; color: rgb(0, 0, 0);">&#8211; additional
                      compensation pursuant to local practices and law may be granted to an Executive under relocation circumstances. Such benefits shall include reimbursement for out of pocket one time payments and other ongoing expenses, such as housing
                      allowance, schooling allowance, car or transportation allowance, home leave visit, health insurance for executive and family, etc, all as reasonable and customary for the relocated country and in accordance with the Company's
                      relocation practices, as shall be approved by the Compensation Committee and Board of Directors.</font></div>
                </td>
              </tr>

          </table>
          <div> <font style="color: rgb(0, 0, 0);"><br>
            </font> </div>
          <table cellspacing="0" cellpadding="0" id="zcf333e4f659e43e4afb5be9c6f3ef481" class="DSPFListTable" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

              <tr>
                <td style="width: 52.4pt;"><font style="color: rgb(0, 0, 0);"><br>
                  </font> </td>
                <td style="width: 21.6pt; vertical-align: top; font-family: 'Times New Roman',Times,serif; color: rgb(0, 0, 0);">8.3.</td>
                <td style="width: auto; vertical-align: top; text-align: justify;">
                  <div style="font-size: 12pt;"><font style="font-size: 10pt; font-family: 'Times New Roman',Times,serif; font-weight: bold; color: rgb(0, 0, 0);">Special Bonus </font><font style="font-size: 10pt; color: rgb(0, 0, 0);">- Our Compensation
                      Committee and our Board of Directors may approve, from time to time, with respect to any Executive, if they deem required under special circumstances or in case of an exceptional contribution to the Company, including in cases of
                      retention or attraction of a new Executive ("Sign On"), the grant of a onetime cash incentive, of up to 100% the Executive's annual base salary.</font></div>
                </td>
              </tr>

          </table>
          <div style="line-height: 1.25; color: rgb(0, 0, 0);">&#160;</div>
          <table cellspacing="0" cellpadding="0" id="zcbe6944e4e7a426bb90be0a60abbfd85" class="DSPFListTable" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

              <tr>
                <td style="width: 30pt;"><font style="color: rgb(0, 0, 0);"><br>
                  </font> </td>
                <td style="width: 17.45pt; vertical-align: top; font-family: 'Times New Roman',Times,serif; color: rgb(0, 0, 0);">9.</td>
                <td style="width: auto; vertical-align: top;">
                  <div style="font-family: 'Times New Roman',Times,serif; font-weight: bold; color: rgb(0, 0, 0);"><u>Clawback Policy</u></div>
                </td>
              </tr>

          </table>
          <div> <font style="color: rgb(0, 0, 0);"><br>
            </font> </div>
          <table cellspacing="0" cellpadding="0" id="z936a7a2deb8d45d48c9dd191ff4cc63d" class="DSPFListTable" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

              <tr>
                <td style="width: 52.4pt;"><font style="color: rgb(0, 0, 0);"><br>
                  </font> </td>
                <td style="width: 21.6pt; vertical-align: top; font-family: 'Times New Roman',Times,serif; color: rgb(0, 0, 0);">9.1.</td>
                <td style="width: auto; vertical-align: top; text-align: justify;">
                  <div style="font-family: 'Times New Roman',Times,serif; color: rgb(0, 0, 0);">In the event of a restatement of the Company&#8217;s financial results, we shall seek reimbursement from our Office Holders of any payment made due to erroneous
                    restated data, with regards to each Office Holder&#8217;s Terms of Office and Employment that would not otherwise have been paid. The reimbursement shall be limited to such payments made during the 3-years period preceding the date of
                    restatement. The above shall not apply in case of restatements that reflect the adoption of new accounting standards, transactions that require retroactive restatement (e.g., discontinued operations), reclassifications of prior year
                    financial information to conform with the current year presentation, or discretionary accounting changes<font style="font-style: italic;">.</font></div>
                </td>
              </tr>

          </table>
          <div style="line-height: 1.25; color: rgb(0, 0, 0);">&#160;</div>
          <table cellspacing="0" cellpadding="0" id="z62a2c995f67d470eac9daa7329cb9476" class="DSPFListTable" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

              <tr>
                <td style="width: 52.4pt;"><font style="color: rgb(0, 0, 0);"><br>
                  </font> </td>
                <td style="width: 21.6pt; vertical-align: top; font-family: 'Times New Roman',Times,serif; color: rgb(0, 0, 0);">9.2.</td>
                <td style="width: auto; vertical-align: top; text-align: justify;">
                  <div style="font-family: 'Times New Roman',Times,serif; color: rgb(0, 0, 0);">Our Compensation Committee and Board of Directors shall be authorized<u> not</u>&#160;to seek recovery to the extent that (i) to do so would be unreasonable or
                    impracticable; or (ii) there is low likelihood of success under governing law versus the cost and effort involved.</div>
                </td>
              </tr>

          </table>
          <div> <font style="color: rgb(0, 0, 0);"><br>
            </font> </div>
          <table cellspacing="0" cellpadding="0" id="zf2ef39c0623341329b1c52dea3183b20" class="DSPFListTable" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

              <tr>
                <td style="width: 52.4pt;"><font style="color: rgb(0, 0, 0);"><br>
                  </font> </td>
                <td style="width: 21.6pt; vertical-align: top; color: rgb(0, 0, 0); font-family: 'Times New Roman',Times,serif;"><u>9.3.</u></td>
                <td style="width: auto; vertical-align: top; text-align: justify;">
                  <div style="color: #2D96D2; font-size: 12pt;"><font style="font-size: 10pt; font-family: 'Times New Roman',Times,serif; color: rgb(0, 0, 0);"><u>The Company intends to adopt and comply with a &#8220;clawback policy&#8221; (the &#8220;Clawback</u></font><font style="font-size: 10pt; color: rgb(0, 0, 0);">&#160;<font style="font-family: 'Times New Roman',Times,serif;"><u>Policy&#8221;), as contemplated pursuant to Rule 10D-1 under the Securities and Exchange</u></font>&#160;<font style="font-family: 'Times New Roman',Times,serif;"><u>Act of 1934, as amended, which directs national securities exchanges, including The</u></font>&#160;<font style="font-family: 'Times New Roman',Times,serif;"><u>Nasdaq Stock Market LLC, to establish listing
                          standards for purposes of complying</u></font>&#160;<font style="font-family: 'Times New Roman',Times,serif;"><u>with Rule 10D-1; To the extent there will be any inconsistencies between this Policy</u></font>&#160;<font style="font-family: 'Times New Roman',Times,serif;"><u>and the Clawback Policy to be adopted by the Company, the latter shall take</u></font>&#160;<font style="font-family: 'Times New Roman',Times,serif;"><u>precedence, and, for the avoidance of any doubt,
                          no amendments to, or further</u></font>&#160;<font style="font-family: 'Times New Roman',Times,serif;"><u>corporate approvals in connection with, this Policy will be required in connection with</u></font>&#160;<font style="font-family: 'Times New Roman',Times,serif;"><u>the adoption of the Clawback Policy. The provisions of this Section 9 - &#8220;Clawback</u></font>&#160;<font style="font-family: 'Times New Roman',Times,serif;"><u>Policy&#8221; shall be deemed amended to conform
                          to any mandatory forfeiture and</u></font>&#160;<font style="font-family: 'Times New Roman',Times,serif;"><u>clawback requirements that the Company becomes subject to after the date this Policy</u></font>&#160;<font style="font-family: 'Times New Roman',Times,serif;"><u>is adopted.</u></font></font></div>
                </td>
              </tr>

          </table>
          <div style="line-height: 1.25; color: rgb(0, 0, 0);">&#160;</div>
          <table cellspacing="0" cellpadding="0" id="zd0d80f744fbe4db5b4813dc33c8ae34a" class="DSPFListTable" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

              <tr>
                <td style="width: 31.25pt; vertical-align: top; font-family: 'Times New Roman',Times,serif; font-weight: bold; color: rgb(0, 0, 0);">III.</td>
                <td style="width: auto; vertical-align: top;">
                  <div style="font-family: 'Times New Roman',Times,serif; font-weight: bold; color: rgb(0, 0, 0);"><u>Director Remuneration:</u></div>
                </td>
              </tr>

          </table>
          <div style="line-height: 1.25; color: rgb(0, 0, 0);">&#160;</div>
          <div style="text-align: justify; margin-left: 39.2pt; line-height: 1.25; font-family: 'Times New Roman',Times,serif; color: rgb(0, 0, 0);">Our non-executive&#160; directors&#160; may&#160; be&#160; entitled&#160; to&#160; remuneration&#160; composed&#160; of&#160; cash compensation which
            includes annual fee and meeting participartion fee, as well as equity based compensation, as an incentive for their contribution and efforts as directors of the Company.</div>
          <div class="BRPFPageFooter">
            <div style="line-height: 1.25;"><font style="color: rgb(0, 0, 0);">&#160;<br>
              </font> </div>
            <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" class="BRPFPageBreakArea">
              <div class="BRPFPageNumberArea"><font style="font-family: 'Times New Roman',Times,serif; color: rgb(0, 0, 0); font-weight: normal; font-style: normal;" class="BRPFPageNumber">A - 8</font></div>
              <div style="page-break-after: always;" class="BRPFPageBreak">
                <hr noshade="noshade" style="border-width: 0px; clear: both; margin: 4px 0px; width: 100%; height: 2px; color: #000000; background-color: #000000;"></div>
            </div>
          </div>
          <div style="text-align: justify; margin-right: 13.9pt; margin-left: 39.2pt; line-height: 1.25; font-family: 'Times New Roman',Times,serif; color: rgb(0, 0, 0);">In setting the compensation of our non-executive Directors, the Compensation
            Committee shall consider, among others, parameters it deems necessary in order to attract and retain highly skilled and experienced Directors.</div>
          <div style="line-height: 1.25; color: rgb(0, 0, 0);">&#160;</div>
          <table cellspacing="0" cellpadding="0" id="zd7a4331467124d31b4459bbd0c1f2626" class="DSPFListTable" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

              <tr>
                <td style="width: 31.25pt; vertical-align: top; font-family: 'Times New Roman',Times,serif; color: rgb(0, 0, 0);">1.</td>
                <td style="width: auto; vertical-align: top;">
                  <div style="font-size: 12pt;"><font style="font-size: 10pt; font-family: 'Times New Roman',Times,serif; font-weight: bold; color: rgb(0, 0, 0);">Cash Compensation</font><font style="font-size: 10pt; color: rgb(0, 0, 0);">:</font></div>
                </td>
              </tr>

          </table>
          <div> <font style="color: rgb(0, 0, 0);"><br>
            </font> </div>
          <table cellspacing="0" cellpadding="0" id="z05f6b4240ce6457db541eb9b469818cd" class="DSPFListTable" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

              <tr>
                <td style="width: 35pt;"><font style="color: rgb(0, 0, 0);"><br>
                  </font> </td>
                <td style="width: 21.6pt; vertical-align: top; font-family: 'Times New Roman',Times,serif; color: rgb(0, 0, 0);">1.1.</td>
                <td style="width: auto; vertical-align: top; text-align: justify;">
                  <div style="font-family: 'Times New Roman',Times,serif; color: rgb(0, 0, 0);">The Company&#8217;s non-executive directors may be entitled to receive an annual cash fee and a participation fee for each meeting in accordance with the amounts set
                    forth in the Law regarding compensation and expense reimbursement of external directors<font style="font-style: italic;">.</font></div>
                </td>
              </tr>

          </table>
          <div> <font style="color: rgb(0, 0, 0);"><br>
            </font> </div>
          <table cellspacing="0" cellpadding="0" id="z56bf4ae496dc41249bb68904376e7168" class="DSPFListTable" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

              <tr>
                <td style="width: 35pt;"><font style="color: rgb(0, 0, 0);"><br>
                  </font> </td>
                <td style="width: 21.6pt; vertical-align: top; font-family: 'Times New Roman',Times,serif; color: rgb(0, 0, 0);">1.2.</td>
                <td style="width: auto; vertical-align: top; text-align: justify;">
                  <div style="font-family: 'Times New Roman',Times,serif; color: rgb(0, 0, 0);">The Company&#8217;s non-executive directors may be reimbursed for their reasonable expenses incurred in connection with attending meetings of the Board of Directors
                    and of any Committees of the Board of Directors, all in accordance with the Law.</div>
                </td>
              </tr>

          </table>
          <div style="line-height: 1.25; color: rgb(0, 0, 0);">&#160;</div>
          <table cellspacing="0" cellpadding="0" id="z15fc968495f547fb875817e9af251183" class="DSPFListTable" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

              <tr>
                <td style="width: 31.25pt; vertical-align: top; font-family: 'Times New Roman',Times,serif; color: rgb(0, 0, 0);">2.</td>
                <td style="width: auto; vertical-align: top;">
                  <div style="font-size: 12pt;"><font style="font-size: 10pt; font-family: 'Times New Roman',Times,serif; font-weight: bold; color: rgb(0, 0, 0);">Equity Based Compensation</font><font style="font-size: 10pt; color: rgb(0, 0, 0);">:</font></div>
                </td>
              </tr>

          </table>
          <div> <font style="color: rgb(0, 0, 0);"><br>
            </font> </div>
          <table cellspacing="0" cellpadding="0" id="z5bdea8f098164e19822498447445d785" class="DSPFListTable" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

              <tr>
                <td style="width: 35pt;"><font style="color: rgb(0, 0, 0);"><br>
                  </font> </td>
                <td style="width: 21.6pt; vertical-align: top; font-family: 'Times New Roman',Times,serif; color: rgb(0, 0, 0);">2.1.</td>
                <td style="width: auto; vertical-align: top; text-align: justify;">
                  <div style="font-family: 'Times New Roman',Times,serif; color: rgb(0, 0, 0);">Each of the Company&#8217;s non-executive directors shall be entitled to receive equal annual equity based compensation, which value shall not exceed USD 150,000<font style="font-style: italic;">.</font></div>
                </td>
              </tr>

          </table>
          <div> <font style="color: rgb(0, 0, 0);"><br>
            </font> </div>
          <table cellspacing="0" cellpadding="0" id="z18c5aff5deb246f08898a502735c2427" class="DSPFListTable" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

              <tr>
                <td style="width: 35pt;"><font style="color: rgb(0, 0, 0);"><br>
                  </font> </td>
                <td style="width: 21.6pt; vertical-align: top; font-family: 'Times New Roman',Times,serif; color: rgb(0, 0, 0);">2.2.</td>
                <td style="width: auto; vertical-align: top; text-align: justify;">
                  <div style="font-family: 'Times New Roman',Times,serif; color: rgb(0, 0, 0);">The Chairman of any Committee of the Board of Directors may be entitled to receive annual equity based compensation of up to 1.5 times the annual equity based
                    compensation of the other directors.</div>
                </td>
              </tr>

          </table>
          <div> <font style="color: rgb(0, 0, 0);"><br>
            </font> </div>
          <table cellspacing="0" cellpadding="0" id="zcaa96cdc1c13459c9295ae45806cb73b" class="DSPFListTable" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

              <tr>
                <td style="width: 35pt;"><font style="color: rgb(0, 0, 0);"><br>
                  </font> </td>
                <td style="width: 21.6pt; vertical-align: top; font-family: 'Times New Roman',Times,serif; color: rgb(0, 0, 0);">2.3.</td>
                <td style="width: auto; vertical-align: top; text-align: justify;">
                  <div style="font-family: 'Times New Roman',Times,serif; color: rgb(0, 0, 0);">The Chairman of the Board of Directors may be entitled to receive an annual equity based compensation of to up to 3 the annual equity based compensation of the
                    other directors.</div>
                </td>
              </tr>

          </table>
          <div style="line-height: 1.25; color: rgb(0, 0, 0);">&#160;</div>
          <table cellspacing="0" cellpadding="0" id="zd3abff7aa5e449bcacf5099a406c192c" class="DSPFListTable" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

              <tr>
                <td style="width: 31.25pt; vertical-align: top; font-family: 'Times New Roman',Times,serif; color: rgb(0, 0, 0);">3.</td>
                <td style="width: auto; vertical-align: top;">
                  <div style="font-size: 12pt;"><font style="font-size: 10pt; font-family: 'Times New Roman',Times,serif; font-weight: bold; color: rgb(0, 0, 0);">External Directors' Compensation</font><font style="font-size: 10pt; color: rgb(0, 0, 0);">:</font></div>
                </td>
              </tr>

          </table>
          <div> <font style="color: rgb(0, 0, 0);"><br>
            </font> </div>
          <table cellspacing="0" cellpadding="0" id="zc1c7c242438c4472b1bc278418eb99f3" class="DSPFListTable" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

              <tr>
                <td style="width: 35pt;"><font style="color: rgb(0, 0, 0);"><br>
                  </font> </td>
                <td style="width: 21.6pt; vertical-align: top; font-family: 'Times New Roman',Times,serif; color: rgb(0, 0, 0);">3.1.</td>
                <td style="width: auto; vertical-align: top; text-align: justify;">
                  <div style="font-family: 'Times New Roman',Times,serif; color: rgb(0, 0, 0);">The compensation of our external directors shall be determined and capped in accordance with the Companies Regulations (Rules Regarding Compensation and Expense
                    Reimbursement of External Directors) -2000.</div>
                </td>
              </tr>

          </table>
          <div style="line-height: 1.25; color: rgb(0, 0, 0);">&#160;</div>
          <table cellspacing="0" cellpadding="0" id="z82388ae9296e4c91b95567337bd2bfef" class="DSPFListTable" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

              <tr>
                <td style="width: 7.95pt;"><font style="color: rgb(0, 0, 0);"><br>
                  </font> </td>
                <td style="width: 31.25pt; vertical-align: top; font-family: 'Times New Roman',Times,serif; font-weight: bold; color: rgb(0, 0, 0);">IV.</td>
                <td style="width: auto; vertical-align: top;">
                  <div style="font-family: 'Times New Roman',Times,serif; font-weight: bold; color: rgb(0, 0, 0);"><u>Indemnification, Insurance and Exemption</u></div>
                </td>
              </tr>

          </table>
          <div style="line-height: 1.25; color: rgb(0, 0, 0);">&#160;</div>
          <table cellspacing="0" cellpadding="0" id="z7c8b7723efa34b4cb46cc9bb5bc8b431" class="DSPFListTable" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

              <tr>
                <td style="width: 44pt;"><font style="color: rgb(0, 0, 0);"><br>
                  </font> </td>
                <td style="width: 15.05pt; vertical-align: top; font-family: 'Times New Roman',Times,serif; color: rgb(0, 0, 0);">1.</td>
                <td style="width: auto; vertical-align: top; text-align: justify;">
                  <div style="font-family: 'Times New Roman',Times,serif; color: rgb(0, 0, 0);">The Office Holders shall be entitled to the same directors and officer&#8217;s indemnification and exemption of up to the maximum amount permitted by law, directors
                    and officers liability insurance<u> policy, which may include a "Run Off" and a "Claims Made"</u>&#160;<u>coverage (&#8220;Insurance Policy&#8221;)</u><u>,</u>&#160;as shall be approved by the <strike>Compensetion</strike>&#160;<u>Compensation </u>Committee,
                    the Board of Directors and our shareholders, all in accordance with any applicable law and the Company&#8217;s articles of association.</div>
                </td>
              </tr>

          </table>
          <div> <font style="color: rgb(0, 0, 0);"><br>
            </font> </div>
          <table cellspacing="0" cellpadding="0" id="z90d8f249bd094d479d99bdcb23cceb34" class="DSPFListTable" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

              <tr>
                <td style="width: 44pt;"><font style="color: rgb(0, 0, 0);"><br>
                  </font> </td>
                <td style="width: 15.05pt; vertical-align: top; color: rgb(0, 0, 0); font-family: 'Times New Roman',Times,serif;"><u>2.</u></td>
                <td style="width: auto; vertical-align: top; text-align: justify;">
                  <div style="font-family: 'Times New Roman',Times,serif; color: rgb(0, 0, 0);">We shall be authorize to provide our directors and officers with a liability insurance policy <u>(including but not limited to claims associated with M&amp;A
                      transaction) </u>which <u>aggregate </u><strike>aggregare </strike>coverage shall be up to US$45 million<strike>, and the annual premium</strike>&#160;<strike>shall be up to US$ 2,000,000, plus additional annual premium of up to US$
                      300,000</strike>&#160;<strike>for claims associated with M&amp;A transactions</strike>.</div>
                </td>
              </tr>

          </table>
          <div> <font style="color: rgb(0, 0, 0);"><br>
            </font> </div>
          <table cellspacing="0" cellpadding="0" id="z491f9d91eeb94db78480a79c2681db7c" class="DSPFListTable" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

              <tr>
                <td style="width: 44pt;"><font style="color: rgb(0, 0, 0);"><br>
                  </font> </td>
                <td style="width: 18pt; vertical-align: top; color: rgb(0, 0, 0); font-family: 'Times New Roman',Times,serif;"><u>3.</u></td>
                <td style="width: auto; vertical-align: top; text-align: justify;">
                  <div style="color: #2D96D2; font-size: 12pt;"><font style="font-size: 10pt; font-family: 'Times New Roman',Times,serif; color: rgb(0, 0, 0);"><u>The Insurance Policy, as well as the limit of liability and the premium for each</u></font><font style="font-size: 10pt; color: rgb(0, 0, 0);">&#160;<font style="font-family: 'Times New Roman',Times,serif;"><u>extension or renewal shall be approved by the Compensation Committee (and, if</u></font></font><font style="font-size: 10pt; font-family: 'Times New Roman',Times,serif; color: rgb(0, 0, 0);"><u> required by law, by the Board) which shall determine that the sums are reasonable</u></font><font style="font-size: 10pt; color: rgb(0, 0, 0);">&#160;<font style="font-family: 'Times New Roman',Times,serif;"><u>considering Ceragon&#8217;s exposures, the scope of coverage and the market conditions and</u></font>&#160;<font style="font-family: 'Times New Roman',Times,serif;"><u>that the Insurance
                          Policy reflects the current market conditions, and it shall not</u></font>&#160;<font style="font-family: 'Times New Roman',Times,serif;"><u>materially affect the Company&#8217;s profitability, assets or liabilities.</u></font></font></div>
                </td>
              </tr>

          </table>
          <div class="BRPFPageFooter">
            <div style="line-height: 1.25;"><font style="color: rgb(0, 0, 0);"><br style="line-height: 1.25;">
              </font> </div>
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              <div class="BRPFPageNumberArea"><font style="font-family: 'Times New Roman',Times,serif; color: rgb(0, 0, 0); font-weight: normal; font-style: normal;" class="BRPFPageNumber">A - 9</font></div>
              <div style="page-break-after: always;" class="BRPFPageBreak">
                <hr noshade="noshade" style="border-width: 0px; clear: both; margin: 4px 0px; width: 100%; height: 2px; color: #000000; background-color: #000000;"></div>
            </div>
          </div>
          <table cellspacing="0" cellpadding="0" id="zae840f1dd3da484ea551f672f0e402c8" class="DSPFListTable" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

              <tr>
                <td style="width: 44pt;"><font style="color: rgb(0, 0, 0);"><br>
                  </font> </td>
                <td style="width: 18pt; vertical-align: top; color: rgb(0, 0, 0); font-family: 'Times New Roman',Times,serif;">4.</td>
                <td style="width: auto; vertical-align: top; text-align: justify;">
                  <div style="color: #2D96D2; font-size: 12pt;"><font style="font-size: 10pt; font-family: 'Times New Roman',Times,serif; color: rgb(0, 0, 0);"><u>The Compensation Committee may extend the Insurance Policy in place to include</u></font><font style="font-size: 10pt; color: rgb(0, 0, 0);">&#160;<font style="font-family: 'Times New Roman',Times,serif;"><u>cover for liability pursuant to a future public offering of securities provided that the</u></font>&#160;<font style="font-family: 'Times New Roman',Times,serif;"><u>Insurance Policy, as well as the additional premium shall be approved by the</u></font>&#160;<font style="font-family: 'Times New Roman',Times,serif;"><u>Compensation Committee (and if required by law,
                          by the Board), which shall determine</u></font>&#160;<font style="font-family: 'Times New Roman',Times,serif;"><u>that the sums are reasonable considering the exposures pursuant to such public offering</u></font>&#160;<font style="font-family: 'Times New Roman',Times,serif;"><u>of securities, the scope of cover and the market conditions and that the Insurance Policy</u></font>&#160;<font style="font-family: 'Times New Roman',Times,serif;"><u>reflects the
                          current market conditions, and that it does not materially affect the</u></font>&#160;<font style="font-family: 'Times New Roman',Times,serif;"><u>Company&#8217;s profitability, assets or liabilities.</u></font></font></div>
                </td>
              </tr>

          </table>
          <div style="line-height: 1.25; color: rgb(0, 0, 0);">&#160;</div>
          <div style="text-align: justify; text-indent: -18pt; margin-right: 13.8pt; margin-left: 62pt; line-height: 1.25; font-size: 12pt;"><font style="font-size: 10pt; font-family: 'Times New Roman',Times,serif; color: rgb(0, 0, 0);"><strike>2.</strike><u>5.</u><strike>Our


                Compensation Committee shall be authorized to increase the coverage purchased,</strike>&#160;<strike>and/or the premiums paid for such policies, by up to 20% in any year, as compared to</strike>&#160;<strike>the previous year, or cumulatively for a
                number of years, without an additional</strike>&#160;<strike>shareholders' approval, if and to the extent permitted under the Law.</strike></font></div>
          <div style="line-height: 1.25;"><font style="color: rgb(0, 0, 0);">&#160; <br>
            </font> </div>
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              <tr>
                <td style="width: 7.95pt;"><font style="color: rgb(0, 0, 0);"><br>
                  </font> </td>
                <td style="width: 31.25pt; vertical-align: top; font-family: 'Times New Roman',Times,serif; font-weight: bold; color: rgb(0, 0, 0);">V.</td>
                <td style="width: auto; vertical-align: top;">
                  <div style="font-family: 'Times New Roman',Times,serif; font-weight: bold; color: rgb(0, 0, 0);"><u>General</u></div>
                </td>
              </tr>

          </table>
          <div style="line-height: 1.25; color: rgb(0, 0, 0);">&#160;</div>
          <table cellspacing="0" cellpadding="0" id="z6ee5ab48d3d04f07aa7df7b24796b3bb" class="DSPFListTable" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

              <tr>
                <td style="width: 44pt;"><font style="color: rgb(0, 0, 0);"><br>
                  </font> </td>
                <td style="width: 15.05pt; vertical-align: top; font-family: 'Times New Roman',Times,serif; color: rgb(0, 0, 0);">1.</td>
                <td style="width: auto; vertical-align: top; text-align: justify;">
                  <div style="font-family: 'Times New Roman',Times,serif; color: rgb(0, 0, 0);">The Compensation Committee and our Board of Directors shall be authorized to approve a deviation of up to 10% from any limits, caps or standards detailed in
                    this Policy, and such deviation shall be deemed to be in alignment with this Policy.</div>
                </td>
              </tr>

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          <div> <font style="color: rgb(0, 0, 0);"><br>
            </font> </div>
          <table cellspacing="0" cellpadding="0" id="z3d6b053334d44a07a765e2cd089fd57f" class="DSPFListTable" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

              <tr>
                <td style="width: 44pt;"><font style="color: rgb(0, 0, 0);"><br>
                  </font> </td>
                <td style="width: 15.05pt; vertical-align: top; font-family: 'Times New Roman',Times,serif; color: rgb(0, 0, 0);">2.</td>
                <td style="width: auto; vertical-align: top; text-align: justify;">
                  <div style="font-family: 'Times New Roman',Times,serif; color: rgb(0, 0, 0);">This Policy is set as guidance for the Company's relevant organs, with respect to matters involving the compensation of its Office Holders, and is not intended
                    to, and shall not confer upon any of the Office Holders, any rights with respect to the Company.</div>
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            A - 10<br>
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<DOCUMENT>
<TYPE>EX-99
<SEQUENCE>3
<FILENAME>exhibit_b.htm
<DESCRIPTION>EXHIBIT B
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    <div style="text-align: right;"> <u><font style="font-weight: bold;">Exhibit B</font></u><br>
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                  <div style="text-align: justify; line-height: 1.25; font-family: 'Times New Roman',Times,serif; font-weight: bold; color: rgb(0, 0, 0);">FORM OF PROXY CARD</div>
                  <font style="color: rgb(0, 0, 0);"><br>
                  </font>
                  <div style="line-height: 1.25; font-family: 'Times New Roman',Times,serif; font-weight: bold; color: rgb(0, 0, 0);">CERAGON NETWORKS LTD.</div>
                  <div style="line-height: 1.25;"><font style="color: rgb(0, 0, 0);"><br style="line-height: 1.25;">
                    </font> </div>
                  <div style="line-height: 1.25; font-family: 'Times New Roman',Times,serif; font-weight: bold; color: rgb(0, 0, 0);">ANNUAL GENERAL MEETING OF SHAREHOLDERS</div>
                  <div style="line-height: 1.25; font-family: 'Times New Roman',Times,serif; font-weight: bold; color: rgb(0, 0, 0);">SEPTEMBER 6, 2023</div>
                  <div style="line-height: 1.25;"><font style="color: rgb(0, 0, 0);"><br style="line-height: 1.25;">
                    </font> </div>
                  <div style="line-height: 1.25; font-family: 'Times New Roman',Times,serif; font-weight: bold; color: rgb(0, 0, 0);">THIS PROXY IS SOLICITED ON BEHALF OF THE BOARD OF DIRECTORS</div>
                  <div style="line-height: 1.25;"><font style="color: rgb(0, 0, 0);"><br style="line-height: 1.25;">
                    </font> </div>
                  <div style="text-align: justify; line-height: 1.25; color: rgb(0, 0, 0);">The shareholder(s) hereby appoint/s Ronen Stein and Hadar Vismunski Weinberg, Adv., or either one of them, as proxies, each with the power to appoint his
                    substitute, and hereby authorize/s them to represent and to vote as designated on the reverse side of this Proxy, all of the ordinary shares of Ceragon Networks Ltd. (the &#8220;<font style="font-family: 'Times New Roman',Times,serif; font-weight: bold;">Company</font>&#8221;)<font style="font-family: 'Times New Roman',Times,serif;">&#160;</font>held of record in the name of the undersigned at the close of business on Tuesday, August 1, 2023, that the shareholder(s) is/are
                    entitled to vote at the annual general meeting of shareholders to be held at 4:00 PM (Israel time), on Wednesday, September 6, 2023, at the offices of the Company, 3 Uri Ariav st., Rosh Ha&#8217;Ayin, Israel 4810002 and any adjournment or
                    postponement thereof (the "<font style="font-family: 'Times New Roman',Times,serif; font-weight: bold;">Meeting</font>").</div>
                  <div style="line-height: 1.25;"><font style="color: rgb(0, 0, 0);"><br style="line-height: 1.25;">
                    </font> </div>
                  <div style="text-align: justify; line-height: 1.25; font-weight: bold; color: rgb(0, 0, 0);">THIS PROXY, WHEN PROPERLY EXECUTED, WILL BE VOTED AS DIRECTED BY THE SHAREHOLDER(S).&#160; IF NO SUCH DIRECTIONS ARE MADE BY THE SHAREHOLDER, THIS
                    PROXY WILL BE VOTED FOR EACH PROPOSAL, AND AS SUCH PROXIES DEEM ADVISABLE WITH DISCRETIONARY AUTHORIZATION ON SUCH OTHER BUSINESS AS MAY PROPERLY COME BEFORE THE MEETING AND ANY ADJOURNMENT OR ADJOURNMENTS THEREOF. ABSTENTIONS WILL BE
                    COUNTED AS PRESENT FOR PURPOSES OF DETERMINING A QUORUM BUT WILL NOT BE COUNTED IN CONNECTION WITH THE VOTE ON ANY PROPOSAL AS TO WHICH THE SHAREHOLDER HAS ABSTAINED.</div>
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                    </font> </div>
                  <div style="line-height: 1.25; font-weight: bold; color: rgb(0, 0, 0);">&#160;(Continued and to be signed on the reverse side)</div>
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                  <div style="line-height: 1.25; font-weight: bold;"> <font style="color: rgb(0, 0, 0);"><br>
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                  <div style="line-height: 1.25; font-weight: bold; color: rgb(0, 0, 0);">ANNUAL GENERAL MEETING OF SHAREHOLDERS OF</div>
                  <div style="line-height: 1.25;"><font style="color: rgb(0, 0, 0);"><br style="line-height: 1.25;">
                    </font> </div>
                  <div style="line-height: 1.25; font-family: 'Times New Roman',Times,serif; font-weight: bold; color: rgb(0, 0, 0);">CERAGON NETWORKS LTD.</div>
                  <div style="line-height: 1.25;"><font style="color: rgb(0, 0, 0);"><br style="line-height: 1.25;">
                    </font> </div>
                  <div style="line-height: 1.25; font-weight: bold; color: rgb(0, 0, 0);">SEPTEMBER 6, 2023</div>
                  <div style="line-height: 1.25;"><font style="color: rgb(0, 0, 0);"><br style="line-height: 1.25;">
                    </font> </div>
                  <div style="line-height: 1.25; color: rgb(0, 0, 0);">Please date, sign and mail your proxy card in the envelope provided as soon as possible</div>
                  <div><font style="color: rgb(0, 0, 0);"><br>
                    </font>
                    <hr align="center" style="height: 1px; width: 30%; color: #000000; background-color: #000000; margin-left: auto; margin-right: auto; border: none;"><font style="color: rgb(0, 0, 0);"><br>
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                  <div style="line-height: 1.25; font-weight: bold; color: rgb(0, 0, 0);">THE BOARD OF DIRECTORS (THE &#8220;BOARD&#8221;) RECOMMENDS A VOTE &#8220;FOR&#8221; PROPOSALS NO. 1 TO 5 OF THE PROXY STATEMENT.</div>
                  <div style="line-height: 1.25; font-weight: bold; color: rgb(0, 0, 0);">PLEASE SIGN, DATE AND RETURN PROMPTLY IN THE ENCLOSED ENVELOPE.</div>
                  <div style="line-height: 1.25; font-weight: bold; color: rgb(0, 0, 0);">PLEASE MARK YOUR VOTE IN BLUE OR BLACK INK AS SHOWN HERE &#9746;</div>
                  <div style="line-height: 1.25; font-weight: bold;"><font style="color: rgb(0, 0, 0);"><br>
                    </font> </div>
                  <div style="line-height: 1.25;">
                    <hr align="center" style="height: 1px; width: 30%; color: #000000; background-color: #000000; margin-left: auto; margin-right: auto; border: none;"></div>
                  <div style="line-height: 1.25;"><font style="color: rgb(0, 0, 0);"><br style="line-height: 1.25;">
                    </font> </div>
                  <div style="line-height: 1.25;">
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                          <td rowspan="1" style="width: 4%; color: rgb(0, 0, 0);">&#160;</td>
                          <td rowspan="1" style="width: 70%; text-align: justify; color: rgb(0, 0, 0);">&#160;</td>
                          <td rowspan="1" style="width: 4%;"><font style="color: rgb(0, 0, 0);"><br>
                            </font> </td>
                          <td rowspan="1" style="width: 6%; text-align: center; vertical-align: top; color: rgb(0, 0, 0);">FOR</td>
                          <td rowspan="1" style="width: 6%; text-align: center; vertical-align: top; color: rgb(0, 0, 0);">AGAINST</td>
                          <td rowspan="1" style="width: 6%; text-align: center; vertical-align: top; color: rgb(0, 0, 0);">ABSTAIN</td>
                          <td rowspan="1" style="width: 4%; color: rgb(0, 0, 0);">&#160;</td>
                        </tr>
                        <tr>
                          <td rowspan="1" style="width: 4%; color: rgb(0, 0, 0);">&#160;</td>
                          <td rowspan="1" style="width: 70%; text-align: justify; color: rgb(0, 0, 0);">&#160;</td>
                          <td rowspan="1" style="width: 4%; color: rgb(0, 0, 0);">&#160;</td>
                          <td rowspan="1" style="width: 6%; text-align: center; vertical-align: top; color: rgb(0, 0, 0);">&#160;</td>
                          <td rowspan="1" style="width: 6%; text-align: center; vertical-align: top; color: rgb(0, 0, 0);">&#160;</td>
                          <td rowspan="1" style="width: 6%; text-align: center; vertical-align: top; color: rgb(0, 0, 0);">&#160;</td>
                          <td rowspan="1" style="width: 4%; color: rgb(0, 0, 0);">&#160;</td>
                        </tr>
                        <tr>
                          <td style="width: 4%; font-weight: bold; text-align: left; vertical-align: top;"><font style="color: rgb(0, 0, 0);">1.<br>
                            </font> </td>
                          <td style="width: 70%; text-align: justify; color: rgb(0, 0, 0);"><font style="font-family: 'Times New Roman',Times,serif; font-weight: bold;">Election of Ms. Yael Shaham to serve on the Board of Directors of the Company (the
                              &#8220;Board&#8221;) for a term of approximately one (1) year ending on the date of the next annual general meeting that will be held in 2024, as described in Proposal 1 of the Proxy Statement</font></td>
                          <td style="width: 4%;">
                            <div style="color: rgb(0, 0, 0);">&#160;</div>
                          </td>
                          <td style="width: 6%; text-align: center; vertical-align: top; color: rgb(0, 0, 0);">&#9744;</td>
                          <td style="width: 6%; text-align: center; vertical-align: top; color: rgb(0, 0, 0);">&#9744;</td>
                          <td style="width: 6%; text-align: center; vertical-align: top; color: rgb(0, 0, 0);">&#9744;</td>
                          <td style="width: 4%;">
                            <div style="color: rgb(0, 0, 0);">&#160;</div>
                          </td>
                        </tr>
                        <tr>
                          <td style="width: 4%; text-align: left; vertical-align: top;">
                            <div style="font-weight: bold; color: rgb(0, 0, 0);">&#160;</div>
                          </td>
                          <td style="width: 70%;">
                            <div style="text-align: justify; color: rgb(0, 0, 0);">&#160;</div>
                          </td>
                          <td style="width: 4%;">
                            <div style="color: rgb(0, 0, 0);">&#160;</div>
                          </td>
                          <td style="width: 6%; text-align: center; vertical-align: top;">
                            <div style="color: rgb(0, 0, 0);">&#160;</div>
                          </td>
                          <td style="width: 6%; text-align: center; vertical-align: top;">
                            <div style="color: rgb(0, 0, 0);">&#160;</div>
                          </td>
                          <td style="width: 6%; text-align: center; vertical-align: top;">
                            <div style="color: rgb(0, 0, 0);">&#160;</div>
                          </td>
                          <td style="width: 4%;">
                            <div style="color: rgb(0, 0, 0);">&#160;</div>
                          </td>
                        </tr>
                        <tr>
                          <td style="width: 4%; text-align: left; vertical-align: top;">
                            <div style="font-weight: bold; color: rgb(0, 0, 0);">&#160;</div>
                          </td>
                          <td style="width: 70%;">
                            <div style="text-align: justify; color: rgb(0, 0, 0);">&#160;</div>
                          </td>
                          <td style="width: 4%;">
                            <div style="color: rgb(0, 0, 0);">&#160;</div>
                          </td>
                          <td style="width: 6%; text-align: center; vertical-align: top;">
                            <div style="color: rgb(0, 0, 0);">FOR</div>
                          </td>
                          <td style="width: 6%; text-align: center; vertical-align: top;">
                            <div style="color: rgb(0, 0, 0);">AGAINST</div>
                          </td>
                          <td style="width: 6%; text-align: center; vertical-align: top;">
                            <div style="color: rgb(0, 0, 0);">ABSTAIN</div>
                          </td>
                          <td style="width: 4%;">
                            <div style="color: rgb(0, 0, 0);">&#160;</div>
                          </td>
                        </tr>
                        <tr>
                          <td style="width: 4%; text-align: left; vertical-align: top;">
                            <div style="font-weight: bold; color: rgb(0, 0, 0);">&#160;</div>
                          </td>
                          <td style="width: 70%;">
                            <div style="text-align: justify; color: rgb(0, 0, 0);">&#160;</div>
                          </td>
                          <td style="width: 4%;">
                            <div style="color: rgb(0, 0, 0);">&#160;</div>
                          </td>
                          <td style="width: 6%; text-align: center; vertical-align: top;">
                            <div style="color: rgb(0, 0, 0);">&#160;</div>
                          </td>
                          <td style="width: 6%; text-align: center; vertical-align: top;">
                            <div style="color: rgb(0, 0, 0);">&#160;</div>
                          </td>
                          <td style="width: 6%; text-align: center; vertical-align: top;">
                            <div style="color: rgb(0, 0, 0);">&#160;</div>
                          </td>
                          <td style="width: 4%;">
                            <div style="color: rgb(0, 0, 0);">&#160;</div>
                          </td>
                        </tr>
                        <tr>
                          <td style="width: 4%; font-weight: bold; text-align: left; vertical-align: top;"><font style="color: rgb(0, 0, 0);">2.<br>
                            </font> </td>
                          <td style="width: 70%; text-align: justify; color: rgb(0, 0, 0);"><font style="font-family: 'Times New Roman',Times,serif; font-weight: bold;">Approval of a grant of options to each of the Company&#8217;s non-executive directors, as
                              part of their compensation for service, as described in Proposal 2 of the Proxy Statement</font></td>
                          <td style="width: 4%;">
                            <div style="color: rgb(0, 0, 0);">&#160;</div>
                          </td>
                          <td style="width: 6%; text-align: center; vertical-align: top;">
                            <div style="color: rgb(0, 0, 0);">&#9744;</div>
                          </td>
                          <td style="width: 6%; text-align: center; vertical-align: top;">
                            <div style="color: rgb(0, 0, 0);">&#9744;</div>
                          </td>
                          <td style="width: 6%; text-align: center; vertical-align: top;">
                            <div style="color: rgb(0, 0, 0);">&#9744;</div>
                          </td>
                          <td style="width: 4%;">
                            <div style="color: rgb(0, 0, 0);">&#160;</div>
                          </td>
                        </tr>
                        <tr>
                          <td style="width: 4%; text-align: left; vertical-align: top;">
                            <div style="font-weight: bold; color: rgb(0, 0, 0);">&#160;</div>
                          </td>
                          <td style="width: 70%;">
                            <div style="text-align: justify; color: rgb(0, 0, 0);">&#160;</div>
                          </td>
                          <td style="width: 4%;">
                            <div style="color: rgb(0, 0, 0);">&#160;</div>
                          </td>
                          <td style="width: 6%; text-align: center; vertical-align: top;">
                            <div style="color: rgb(0, 0, 0);">&#160;</div>
                          </td>
                          <td style="width: 6%; text-align: center; vertical-align: top;">
                            <div style="color: rgb(0, 0, 0);">&#160;</div>
                          </td>
                          <td style="width: 6%; text-align: center; vertical-align: top;">
                            <div style="color: rgb(0, 0, 0);">&#160;</div>
                          </td>
                          <td style="width: 4%;">
                            <div style="color: rgb(0, 0, 0);">&#160;</div>
                          </td>
                        </tr>
                        <tr>
                          <td style="width: 4%; text-align: left; vertical-align: top;">
                            <div style="font-weight: bold; color: rgb(0, 0, 0);">&#160;</div>
                          </td>
                          <td style="width: 70%;">
                            <div style="text-align: justify; color: rgb(0, 0, 0);">&#160;</div>
                          </td>
                          <td style="width: 4%;">
                            <div style="color: rgb(0, 0, 0);">&#160;</div>
                          </td>
                          <td style="width: 6%; text-align: center; vertical-align: top; color: rgb(0, 0, 0);">FOR</td>
                          <td style="width: 6%; text-align: center; vertical-align: top; color: rgb(0, 0, 0);">AGAINST</td>
                          <td style="width: 6%; text-align: center; vertical-align: top; color: rgb(0, 0, 0);">ABSTAIN</td>
                          <td style="width: 4%;">
                            <div style="color: rgb(0, 0, 0);">&#160;</div>
                          </td>
                        </tr>
                        <tr>
                          <td rowspan="1" style="width: 4%; text-align: left; vertical-align: top; color: rgb(0, 0, 0);">&#160;</td>
                          <td rowspan="1" style="width: 70%; text-align: justify; color: rgb(0, 0, 0);">&#160;</td>
                          <td rowspan="1" style="width: 4%; color: rgb(0, 0, 0);">&#160;</td>
                          <td rowspan="1" style="width: 6%; text-align: center; vertical-align: top; color: rgb(0, 0, 0);">&#160;</td>
                          <td rowspan="1" style="width: 6%; text-align: center; vertical-align: top; color: rgb(0, 0, 0);">&#160;</td>
                          <td rowspan="1" style="width: 6%; text-align: center; vertical-align: top; color: rgb(0, 0, 0);">&#160;</td>
                          <td rowspan="1" style="width: 4%; color: rgb(0, 0, 0);">&#160;</td>
                        </tr>
                        <tr>
                          <td style="width: 4%; font-weight: bold; text-align: left; vertical-align: top;"><font style="color: rgb(0, 0, 0);">3.<br>
                            </font> </td>
                          <td style="width: 70%; text-align: justify; color: rgb(0, 0, 0);"><font style="font-family: 'Times New Roman',Times,serif; font-weight: bold;">Approval of the renewal of the amended Company's Executives &amp; Directors
                              Compensation Policy and an amendment thereof, in the form attached as Exhibit A to the Proxy Statement for the 2023 Annual General Meeting of Shareholders, for a term of three (3) years as of the date of this Annual General
                              Meeting, as described in Proposal 3 of the Proxy Statement</font></td>
                          <td style="width: 4%;">
                            <div style="color: rgb(0, 0, 0);">&#160;</div>
                          </td>
                          <td style="width: 6%; text-align: center; vertical-align: top;">
                            <div style="color: rgb(0, 0, 0);">&#9744;</div>
                          </td>
                          <td style="width: 6%; text-align: center; vertical-align: top;">
                            <div style="color: rgb(0, 0, 0);">&#9744;</div>
                          </td>
                          <td style="width: 6%; text-align: center; vertical-align: top;">
                            <div style="color: rgb(0, 0, 0);">&#9744;</div>
                          </td>
                          <td style="width: 4%;">
                            <div style="color: rgb(0, 0, 0);">&#160;</div>
                          </td>
                        </tr>
                        <tr>
                          <td style="width: 4%; text-align: left; vertical-align: top;">
                            <div style="font-weight: bold; color: rgb(0, 0, 0);">&#160;</div>
                          </td>
                          <td style="width: 70%;">
                            <div style="text-align: justify; color: rgb(0, 0, 0);">&#160;</div>
                          </td>
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                            <div style="color: rgb(0, 0, 0);">&#160;</div>
                          </td>
                          <td style="width: 6%; text-align: center; vertical-align: top;">
                            <div style="color: rgb(0, 0, 0);">&#160;</div>
                          </td>
                          <td style="width: 6%; text-align: center; vertical-align: top;">
                            <div style="color: rgb(0, 0, 0);">&#160;</div>
                          </td>
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                            <div style="color: rgb(0, 0, 0);">&#160;</div>
                          </td>
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                            <div style="color: rgb(0, 0, 0);">&#160;</div>
                          </td>
                        </tr>
                        <tr>
                          <td style="width: 4%; text-align: left; vertical-align: top;">
                            <div style="font-weight: bold; color: rgb(0, 0, 0);">&#160;</div>
                          </td>
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                            <div style="text-align: justify; color: rgb(0, 0, 0);">&#160;</div>
                          </td>
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                            <div style="color: rgb(0, 0, 0);">&#160;</div>
                          </td>
                          <td style="width: 6%; text-align: center; vertical-align: top; color: rgb(0, 0, 0);">FOR</td>
                          <td style="width: 6%; text-align: center; vertical-align: top; color: rgb(0, 0, 0);">AGAINST</td>
                          <td style="width: 6%; text-align: center; vertical-align: top;">
                            <div style="color: rgb(0, 0, 0);">&#160;</div>
                          </td>
                          <td style="width: 4%;">
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                          </td>
                        </tr>
                        <tr>
                          <td style="width: 4%; text-align: left; vertical-align: top;">
                            <div style="font-weight: bold; color: rgb(0, 0, 0);">&#160;</div>
                          </td>
                          <td style="width: 70%;">
                            <div style="text-align: justify; color: rgb(0, 0, 0);">&#160;</div>
                          </td>
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                            <div style="color: rgb(0, 0, 0);">&#160;</div>
                          </td>
                          <td style="width: 6%; text-align: center; vertical-align: top;">
                            <div style="color: rgb(0, 0, 0);">&#160;</div>
                          </td>
                          <td style="width: 6%; text-align: center; vertical-align: top;">
                            <div style="color: rgb(0, 0, 0);">&#160;</div>
                          </td>
                          <td style="width: 6%; text-align: center; vertical-align: top;">
                            <div style="color: rgb(0, 0, 0);">&#160;</div>
                          </td>
                          <td style="width: 4%;">
                            <div style="color: rgb(0, 0, 0);">&#160;</div>
                          </td>
                        </tr>
                        <tr>
                          <td style="width: 4%; font-weight: bold; text-align: left; vertical-align: top;"><font style="color: rgb(0, 0, 0);">3.a<br>
                            </font> </td>
                          <td style="width: 70%; text-align: justify; color: rgb(0, 0, 0);"><font style="font-family: 'Times New Roman',Times,serif; font-weight: bold;">By checking the box marked &#8220;FOR&#8221;, the undersigned hereby confirms that he, she or it is
                              not a &#8220;controlling shareholder&#8221; and does not have a &#8220;personal interest&#8221; (i.e., a conflict of interest) in the approval of Proposal 3 of the Proxy Statement? If the undersigned or a related party of the undersigned is a
                              controlling shareholder or has such a conflict of interest, check the box &#8220;AGAINST&#8221;. [MUST COMPLETE ITEM 3.a]</font></td>
                          <td style="width: 4%;">
                            <div style="color: rgb(0, 0, 0);">&#160;</div>
                          </td>
                          <td style="width: 6%; text-align: center; vertical-align: top;">
                            <div style="color: rgb(0, 0, 0);">&#9744;</div>
                          </td>
                          <td style="width: 6%; text-align: center; vertical-align: top;">
                            <div style="color: rgb(0, 0, 0);">&#9744;</div>
                          </td>
                          <td style="width: 6%; text-align: center; vertical-align: top;">
                            <div><font style="color: rgb(0, 0, 0);"><br>
                              </font> </div>
                          </td>
                          <td style="width: 4%;">
                            <div style="color: rgb(0, 0, 0);">&#160;</div>
                          </td>
                        </tr>

                    </table>
                    <div><font style="color: rgb(0, 0, 0);"><br>
                      </font> </div>
                  </div>
                  <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" class="BRPFPageBreakArea">
                    <div style="page-break-after: always;" class="BRPFPageBreak">
                      <hr noshade="noshade" style="border-width: 0px; clear: both; margin: 4px 0px; width: 100%; height: 2px; color: #000000; background-color: #000000;"></div>
                  </div>
                  <div style="line-height: 1.25;"><font style="color: rgb(0, 0, 0);"><br>
                    </font>
                    <table cellspacing="0" cellpadding="0" border="0" id="z4942e75c3fd24a98a5f48d82855bd227" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; color: #000000; width: 100%;">

                        <tr>
                          <td style="width: 4%;">
                            <div style="color: rgb(0, 0, 0);">&#160;</div>
                          </td>
                          <td style="width: 70%; font-weight: bold; text-align: justify; color: rgb(0, 0, 0);">PLEASE NOTE THAT IT IS UNLIKELY THAT YOU ARE A CONTROLLING SHAREHOLDER OR THAT YOU HAVE A PERSONAL INTEREST IN PROPOSAL 3 <font style="font-family: 'Times New Roman',Times,serif;">OF THIS PROXY CARD</font>.</td>
                          <td style="width: 4%;">
                            <div style="color: rgb(0, 0, 0);">&#160;</div>
                          </td>
                          <td style="width: 6%;">
                            <div style="color: rgb(0, 0, 0);">&#160;</div>
                          </td>
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                          </td>
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                          </td>
                        </tr>
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                            <div style="color: rgb(0, 0, 0);">&#160;</div>
                          </td>
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                            <div style="text-align: justify; color: rgb(0, 0, 0);">&#160;</div>
                          </td>
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                            <div style="color: rgb(0, 0, 0);">&#160;</div>
                          </td>
                          <td style="width: 6%;">
                            <div style="color: rgb(0, 0, 0);">&#160;</div>
                          </td>
                          <td style="width: 6%;">
                            <div style="color: rgb(0, 0, 0);">&#160;</div>
                          </td>
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                            <div style="color: rgb(0, 0, 0);">&#160;</div>
                          </td>
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                          </td>
                        </tr>
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                          <td style="width: 4%;">
                            <div style="color: rgb(0, 0, 0);">&#160;</div>
                          </td>
                          <td style="width: 70%; text-align: justify; color: rgb(0, 0, 0);">Under the Companies Law, 5759-1999 (the &#8220;<font style="font-family: 'Times New Roman',Times,serif; font-weight: bold;">Companies Law</font>&#8221;), a person will be
                            deemed to be a "Controlling Shareholder" if that person has the power to direct the activities of the company, other than by reason of serving as a director or other office holder of the company<font style="font-family: 'Times New Roman',Times,serif;">.</font></td>
                          <td style="width: 4%;">
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                          </td>
                        </tr>
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                            <div style="color: rgb(0, 0, 0);">&#160;</div>
                          </td>
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                            <div style="text-align: justify; color: rgb(0, 0, 0);">&#160;</div>
                          </td>
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                          </td>
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                            <div style="color: rgb(0, 0, 0);">&#160;</div>
                          </td>
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                          </td>
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                            <div style="color: rgb(0, 0, 0);">&#160;</div>
                          </td>
                          <td style="width: 70%; text-align: justify; color: rgb(0, 0, 0);">Under the Companies Law, a person is deemed to have a personal interest if he/she or any member of his or her immediate family, or the immediate family of his or
                            her spouse, has a personal interest in the adoption of the proposal; or if a company, other than Ceragon, that is affiliated with such person or affiliated with his or her spouse, has a personal interest in the adoption of the
                            proposal. A company is deemed to be affiliated with a person if such company is a company in which such person or a member of such person's immediate family serves as a director or chief executive officer, has the right to
                            appoint a director or the chief executive officer, or owns 5% or more of the outstanding shares.</td>
                          <td style="width: 4%;">
                            <div style="color: rgb(0, 0, 0);">&#160;</div>
                          </td>
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                          </td>
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                            <div style="color: rgb(0, 0, 0);">&#160;</div>
                          </td>
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                            <div style="color: rgb(0, 0, 0);">&#160;</div>
                          </td>
                        </tr>
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                            <div style="color: rgb(0, 0, 0);">&#160;</div>
                          </td>
                          <td style="width: 70%;">
                            <div style="text-align: justify; line-height: 1.25; font-family: 'Times New Roman',Times,serif; color: rgb(0, 0, 0);"><u>Please note</u> - you are not deemed to have a personal interest in the adoption of the proposal if your
                              interest in such proposal arises solely from your ownership of our shares.</div>
                          </td>
                          <td style="width: 4%;">
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                          </td>
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                            <div style="color: rgb(0, 0, 0);">&#160;</div>
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                          </td>
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                            <div style="color: rgb(0, 0, 0);">&#160;</div>
                          </td>
                          <td style="width: 70%;">
                            <div style="text-align: justify; line-height: 1.25; font-family: 'Times New Roman',Times,serif; color: rgb(0, 0, 0);">For further information regarding the definition of "Personal Interest", please see the explanation under
                              Proposal 3 of the Proxy Statement.</div>
                          </td>
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                            <div style="color: rgb(0, 0, 0);">&#160;</div>
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                          </td>
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                            <div style="color: rgb(0, 0, 0);">&#160;</div>
                          </td>
                          <td style="width: 70%;">
                            <div style="text-align: justify; color: rgb(0, 0, 0);">&#160;</div>
                          </td>
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                          </td>
                        </tr>
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                            <div style="color: rgb(0, 0, 0);">&#160;</div>
                          </td>
                          <td style="width: 70%;">
                            <div style="text-align: justify; color: rgb(0, 0, 0);">&#160;</div>
                          </td>
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                            <div style="color: rgb(0, 0, 0);">&#160;</div>
                          </td>
                          <td style="width: 6%; text-align: center; color: rgb(0, 0, 0);">FOR</td>
                          <td style="width: 6%; text-align: center; color: rgb(0, 0, 0);">AGAINST</td>
                          <td style="width: 6%; text-align: center; color: rgb(0, 0, 0);">ABSTAIN</td>
                          <td style="width: 4%;">
                            <div style="color: rgb(0, 0, 0);">&#160;</div>
                          </td>
                        </tr>
                        <tr>
                          <td style="width: 4%;">
                            <div style="color: rgb(0, 0, 0);">&#160;</div>
                          </td>
                          <td style="width: 70%;">
                            <div style="text-align: justify; color: rgb(0, 0, 0);">&#160;</div>
                          </td>
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                          </td>
                          <td style="width: 6%;">
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                          </td>
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                          </td>
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                          <td style="width: 4%; text-align: left; vertical-align: top;"><font style="color: rgb(0, 0, 0);">4.<br>
                            </font> </td>
                          <td style="width: 70%; font-weight: bold; text-align: justify; color: rgb(0, 0, 0);">Approval of the CEO certain compensation terms for the Company&#8217;s Chief Executive Officer: an annual cash bonus plan and an equity grant for
                            2023upon the terms described in Proposal 4 of the Proxy Statement</td>
                          <td style="width: 4%;">
                            <div style="color: rgb(0, 0, 0);">&#160;</div>
                          </td>
                          <td style="width: 6%; text-align: center; vertical-align: top;">
                            <div style="color: rgb(0, 0, 0);">&#9744;</div>
                          </td>
                          <td style="width: 6%; text-align: center; vertical-align: top;">
                            <div style="color: rgb(0, 0, 0);">&#9744;</div>
                          </td>
                          <td style="width: 6%; text-align: center; vertical-align: top;">
                            <div style="color: rgb(0, 0, 0);">&#9744;</div>
                          </td>
                          <td style="width: 4%;">
                            <div style="color: rgb(0, 0, 0);">&#160;</div>
                          </td>
                        </tr>
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                          <td style="width: 4%;">
                            <div style="color: rgb(0, 0, 0);">&#160;</div>
                          </td>
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                            <div style="text-align: justify; color: rgb(0, 0, 0);">&#160;</div>
                          </td>
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                            <div style="color: rgb(0, 0, 0);">&#160;</div>
                          </td>
                          <td style="width: 6%;">
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                          </td>
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                          </td>
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                          </td>
                        </tr>
                        <tr>
                          <td rowspan="1" style="width: 4%; color: rgb(0, 0, 0);">&#160;</td>
                          <td rowspan="1" style="width: 70%; text-align: justify; color: rgb(0, 0, 0);">&#160;</td>
                          <td rowspan="1" style="width: 4%; color: rgb(0, 0, 0);">&#160;</td>
                          <td rowspan="1" style="width: 6%; text-align: center; color: rgb(0, 0, 0);">FOR</td>
                          <td rowspan="1" style="width: 6%; text-align: center; color: rgb(0, 0, 0);">AGAINST</td>
                          <td rowspan="1" style="width: 6%; color: rgb(0, 0, 0);">&#160;</td>
                          <td rowspan="1" style="width: 4%; color: rgb(0, 0, 0);">&#160;</td>
                        </tr>
                        <tr>
                          <td rowspan="1" style="width: 4%; color: rgb(0, 0, 0);">&#160;</td>
                          <td rowspan="1" style="width: 70%; text-align: justify; color: rgb(0, 0, 0);">&#160;</td>
                          <td rowspan="1" style="width: 4%; color: rgb(0, 0, 0);">&#160;</td>
                          <td rowspan="1" style="width: 6%; color: rgb(0, 0, 0);">&#160;</td>
                          <td rowspan="1" style="width: 6%; color: rgb(0, 0, 0);">&#160;</td>
                          <td rowspan="1" style="width: 6%; color: rgb(0, 0, 0);">&#160;</td>
                          <td rowspan="1" style="width: 4%; color: rgb(0, 0, 0);">&#160;</td>
                        </tr>
                        <tr>
                          <td style="width: 4%; text-align: left; vertical-align: top;">
                            <div style="color: rgb(0, 0, 0);"><font style="font-family: 'Times New Roman',Times,serif;">4.a.</font></div>
                          </td>
                          <td style="width: 70%; font-weight: bold; text-align: justify; color: rgb(0, 0, 0);"><font style="font-family: 'Times New Roman',Times,serif;">By checking the box marked &#8220;FOR&#8221;, the undersigned hereby confirms that he, she or it is
                              not a &#8220;controlling shareholder&#8221; and does not have a &#8220;personal interest&#8221; (i.e., a conflict of interest) in the approval of Proposal 4 of the Proxy Statement? If the undersigned or a related party of the undersigned is a
                              controlling shareholder or has such a conflict of interest, check the box &#8220;AGAINST&#8221;. [MUST COMPLETE ITEM 4.a]</font></td>
                          <td style="width: 4%;">
                            <div style="color: rgb(0, 0, 0);">&#160;</div>
                          </td>
                          <td style="width: 6%; text-align: center; vertical-align: top;">
                            <div style="color: rgb(0, 0, 0);">&#9744;</div>
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                            <div style="color: rgb(0, 0, 0);">&#9744;</div>
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                            <div style="color: rgb(0, 0, 0);">&#160;</div>
                          </td>
                        </tr>
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                          <td style="width: 4%;">
                            <div style="color: rgb(0, 0, 0);">&#160;</div>
                          </td>
                          <td style="width: 70%;">
                            <div style="text-align: justify; color: rgb(0, 0, 0);">&#160;</div>
                          </td>
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                            <div style="color: rgb(0, 0, 0);">&#160;</div>
                          </td>
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                            <div style="color: rgb(0, 0, 0);">&#160;</div>
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                          </td>
                        </tr>
                        <tr>
                          <td colspan="2" rowspan="1" style="width: 4%; text-align: justify; color: rgb(0, 0, 0);">For further information regarding the definition of &#8220;Controlling Shareholder&#8221; or "Personal Interest", please see the explanation under
                            Proposal 3 of the Proxy Statement.</td>
                          <td style="width: 4%;">
                            <div style="color: rgb(0, 0, 0);">&#160;</div>
                          </td>
                          <td style="width: 6%;">
                            <div style="color: rgb(0, 0, 0);">&#160;</div>
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                          </td>
                        </tr>
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                          <td style="width: 4%;">
                            <div style="color: rgb(0, 0, 0);">&#160;</div>
                          </td>
                          <td style="width: 70%;">
                            <div style="text-align: justify; color: rgb(0, 0, 0);">&#160;</div>
                          </td>
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                            <div style="color: rgb(0, 0, 0);">&#160;</div>
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                            <div style="color: rgb(0, 0, 0);">&#160;</div>
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                            <div style="color: rgb(0, 0, 0);">&#160;</div>
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                        <tr>
                          <td colspan="2" rowspan="1" style="width: 4%; font-weight: bold;">
                            <div style="text-align: justify; color: rgb(0, 0, 0);">PLEASE NOTE THAT IT IS UNLIKELY THAT YOU ARE A CONTROLLING SHAREHOLDER OR THAT YOU HAVE A PERSONAL INTEREST IN <font style="font-family: 'Times New Roman',Times,serif;">PROPOSAL
                                4 OF THIS PROXY CARD</font>.</div>
                          </td>
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                            <div style="color: rgb(0, 0, 0);">&#160;</div>
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                            <div style="color: rgb(0, 0, 0);">&#160;</div>
                          </td>
                          <td style="width: 6%; text-align: center; color: rgb(0, 0, 0);">FOR</td>
                          <td style="width: 6%; text-align: center; color: rgb(0, 0, 0);">AGAINST</td>
                          <td style="width: 6%; text-align: center; color: rgb(0, 0, 0);">ABSTAIN</td>
                          <td style="width: 4%;">
                            <div style="color: rgb(0, 0, 0);">&#160;</div>
                          </td>
                        </tr>
                        <tr>
                          <td style="width: 4%;">
                            <div style="color: rgb(0, 0, 0);">&#160;</div>
                          </td>
                          <td style="width: 70%;">
                            <div style="text-align: justify; color: rgb(0, 0, 0);">&#160;</div>
                          </td>
                          <td style="width: 4%;">
                            <div style="color: rgb(0, 0, 0);">&#160;</div>
                          </td>
                          <td style="width: 6%;">
                            <div style="color: rgb(0, 0, 0);">&#160;</div>
                          </td>
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                            <div style="color: rgb(0, 0, 0);">&#160;</div>
                          </td>
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                            <div style="color: rgb(0, 0, 0);">&#160;</div>
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                        <tr>
                          <td style="width: 4%; text-align: left; vertical-align: top; color: rgb(0, 0, 0);"><font style="font-family: 'Times New Roman',Times,serif; font-weight: bold;">5.</font></td>
                          <td style="width: 70%; text-align: justify; color: rgb(0, 0, 0);"><font style="font-family: 'Times New Roman',Times,serif; font-weight: bold;">To re-appoint Kost Forer Gabbay &amp; Kasierer, a Member of Ernst &amp; Young Global,
                              as the Company&#8217;s independent auditor for the fiscal year ending December 31, 2023 and for the year commencing January 1, 2024 and until immediately following the next annual general meeting of shareholders, and to authorize
                              the Board (with power of delegation to its Financial Audit Committee), to set the annual compensation of the independent auditor in accordance with the volume and nature of its services, as described in Proposal 5 of the Proxy
                              Statement</font></td>
                          <td style="width: 4%;">
                            <div style="color: rgb(0, 0, 0);">&#160;</div>
                          </td>
                          <td style="width: 6%; text-align: center; vertical-align: top; color: rgb(0, 0, 0);">&#9744;</td>
                          <td style="width: 6%; text-align: center; vertical-align: top; color: rgb(0, 0, 0);">&#9744;</td>
                          <td style="width: 6%; text-align: center; vertical-align: top; color: rgb(0, 0, 0);">&#9744;</td>
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                            <div style="color: rgb(0, 0, 0);">&#160;</div>
                          </td>
                        </tr>

                    </table>
                    <div><font style="color: rgb(0, 0, 0);"><br>
                      </font> </div>
                  </div>
                  <div style="text-align: justify; margin-right: 54.4pt; line-height: 1.25; color: rgb(0, 0, 0);">Each shareholder voting at the meeting or prior thereto by means of this accompanying proxy card is requested to notify us if he, she or it is
                    a &#8220;Controlling Shareholder&#8221; or has a &#8220;Personal Interest&#8221; in connection with Proposals 3 or 4&#160; of the Proxy Statement as a condition for his, her or its vote to be counted for the special disinterested majority required for the approval
                    thereof. If any shareholder casting a vote in connection thereto does not notify us if he, she or it is a &#8220;Controlling Shareholder&#8221; or has a &#8220;Personal Interest&#8221; with respect to Proposals 3 or 4 of the Proxy Statement, he, she or it will
                    be considered as a &#8220;Controlling Shareholder&#8221; or as having a &#8220;Personal Interest&#8221; and his, her or its vote with respect to such Proposal will not be counted for the special disinterested majority required for the approval thereof.</div>
                  <div style="line-height: 1.25;"><font style="color: rgb(0, 0, 0);"><br style="line-height: 1.25;">
                    </font> </div>
                  <div style="text-align: justify; line-height: 1.25; color: rgb(0, 0, 0);">To change the address on your account, please check the box at right and indicate your new address in the address space above.&#9744;</div>
                  <div style="text-align: justify; line-height: 1.25;"> <font style="color: rgb(0, 0, 0);"><br>
                    </font> </div>
                  <div style="text-align: justify; margin-right: 1.3pt; line-height: 1.25; color: rgb(0, 0, 0);">Please note that changes to the registered name(s) on the account may not be submitted via this method.</div>
                  <div style="text-align: justify; margin-right: 1.3pt; line-height: 1.25;"> <font style="color: rgb(0, 0, 0);"><br>
                    </font> </div>
                  <div style="text-align: justify; margin-right: 1.3pt; line-height: 1.25;">
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                        <tr>
                          <td style="width: 13%; padding-bottom: 2px; color: rgb(0, 0, 0);">Signature of Shareholder</td>
                          <td style="width: 15%; border-bottom: 2px solid rgb(0, 0, 0);">
                            <div style="color: rgb(0, 0, 0);">&#160;</div>
                          </td>
                          <td style="width: 10%; padding-bottom: 2px; text-align: center; color: rgb(0, 0, 0);"><font style="font-family: 'Times New Roman',Times,serif;">Date <br>
                            </font></td>
                          <td style="width: 10%; border-bottom: 2px solid rgb(0, 0, 0);">
                            <div style="color: rgb(0, 0, 0);">&#160;</div>
                          </td>
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                        </tr>
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                          </td>
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                            <div style="color: rgb(0, 0, 0);">&#160;</div>
                          </td>
                          <td style="width: 10%;"><font style="color: rgb(0, 0, 0);"><br>
                            </font> </td>
                          <td style="width: 10%;">
                            <div style="color: rgb(0, 0, 0);">&#160;</div>
                          </td>
                          <td colspan="1" style="width: 52%; color: rgb(0, 0, 0);">&#160;</td>
                        </tr>
                        <tr>
                          <td style="width: 13%; padding-bottom: 2px; color: rgb(0, 0, 0);">Signature of Shareholder</td>
                          <td style="width: 15%; border-bottom: 2px solid rgb(0, 0, 0);">
                            <div style="color: rgb(0, 0, 0);">&#160;</div>
                          </td>
                          <td style="width: 10%; padding-bottom: 2px; text-align: center; color: rgb(0, 0, 0);"><font style="font-family: 'Times New Roman',Times,serif;">Date <br>
                            </font></td>
                          <td style="width: 10%; border-bottom: 2px solid rgb(0, 0, 0);">
                            <div style="color: rgb(0, 0, 0);">&#160;</div>
                          </td>
                          <td colspan="1" style="width: 52%; padding-bottom: 2px; color: rgb(0, 0, 0);">&#160;</td>
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                    </table>
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                  <div style="line-height: 1.25;"><font style="color: rgb(0, 0, 0);"><br style="line-height: 1.25;">
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                  <div style="text-align: left; line-height: 1.25;"><font style="font-weight: bold; color: rgb(0, 0, 0);">NOTE:&#160; </font><font style="color: rgb(0, 0, 0);">Please sign exactly as your name or names appear on this Proxy.&#160; When shares are
                      held jointly, each holder should sign. When signing as executor, administrator, attorney, trustee or guardian, please give full title as such.&#160; If the signer is a corporation, please sign full corporate name by duly authorized
                      officer, giving full title as such. If signer is a partnership, please sign in partnership name by authorized person.</font></div>
                  <font style="color: rgb(0, 0, 0);"><br>
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