<SEC-DOCUMENT>0001178913-20-001227.txt : 20200427
<SEC-HEADER>0001178913-20-001227.hdr.sgml : 20200427
<ACCEPTANCE-DATETIME>20200427090342
ACCESSION NUMBER:		0001178913-20-001227
CONFORMED SUBMISSION TYPE:	6-K
PUBLIC DOCUMENT COUNT:		4
CONFORMED PERIOD OF REPORT:	20200427
FILED AS OF DATE:		20200427
DATE AS OF CHANGE:		20200427

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			SILICOM LTD.
		CENTRAL INDEX KEY:			0000916793
		STANDARD INDUSTRIAL CLASSIFICATION:	COMPUTER COMMUNICATIONS EQUIPMENT [3576]
		IRS NUMBER:				000000000
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		6-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	000-23288
		FILM NUMBER:		20817419

	BUSINESS ADDRESS:	
		STREET 1:		14 ATIR YEDA ST.
		CITY:			KFAR-SAVA
		STATE:			L3
		ZIP:			4464323
		BUSINESS PHONE:		97297644555

	MAIL ADDRESS:	
		STREET 1:		14 ATIR YEDA ST.
		CITY:			KFAR-SAVA
		STATE:			L3
		ZIP:			4464323

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	SILICOM LTD
		DATE OF NAME CHANGE:	19940103
</SEC-HEADER>
<DOCUMENT>
<TYPE>6-K
<SEQUENCE>1
<FILENAME>zk2024294.htm
<DESCRIPTION>6-K
<TEXT>
<html>
  <head>
    <title></title>
    <!-- Licensed to: company
         Document created using EDGARfilings PROfile 6.5.1.0
         Copyright 1995 - 2020 Broadridge -->
  </head>
<body bgcolor="#ffffff" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; text-align: left; color: #000000;">
  <div>
    <hr align="center" style="border: none; border-bottom: 1px solid black; border-top: 4px solid black; height: 10px; color: #ffffff; background-color: #ffffff; text-align: center; margin-left: auto; margin-right: auto;"><br>
    <div style="text-align: center; line-height: 1.25; font-family: 'Times New Roman',Times,serif; font-size: 14pt; font-weight: bold; background-color: rgb(255, 255, 255); color: rgb(0, 0, 0); font-style: normal; font-variant: normal; text-transform: none;">SECURITIES AND EXCHANGE COMMISSION</div>
    <div style="line-height: 1.25;"><br style="line-height: 1.25;">
    </div>
    <div style="text-align: center; line-height: 1.25; font-weight: bold;">WASHINGTON, D.C. 20549</div>
    <div style="line-height: 1.25;"><br style="line-height: 1.25;">
    </div>
    <div style="text-align: center; line-height: 1.25; font-family: 'Times New Roman',Times,serif; font-size: 14pt; font-weight: bold; background-color: rgb(255, 255, 255); color: rgb(0, 0, 0); font-style: normal; font-variant: normal; text-transform: none;">FORM 6-K</div>
    <div style="line-height: 1.25;"><br style="line-height: 1.25;">
    </div>
    <div style="text-align: center; line-height: 1.25; font-weight: bold;">REPORT OF FOREIGN PRIVATE ISSUER</div>
    <div style="line-height: 1.25;"><br style="line-height: 1.25;">
    </div>
    <div style="text-align: center; line-height: 1.25; font-weight: bold;">PURSUANT TO RULE 13a-16 OR 15d-16 OF</div>
    <div style="line-height: 1.25;"><br style="line-height: 1.25;">
    </div>
    <div style="text-align: center; line-height: 1.25; font-weight: bold;">THE SECURITIES EXCHANGE ACT OF 1934</div>
    <div style="line-height: 1.25;"><br style="line-height: 1.25;">
    </div>
    <div style="text-align: center; line-height: 1.25; font-weight: bold;">For the month of April 2020</div>
    <div style="text-align: center; line-height: 1.25; font-style: italic; font-weight: bold;">________________</div>
    <div style="line-height: 1.25;"><br style="line-height: 1.25;">
    </div>
    <div style="text-align: center; line-height: 1.25; font-family: 'Times New Roman',Times,serif; font-size: 16pt; font-weight: bold; background-color: rgb(255, 255, 255); color: rgb(0, 0, 0); font-style: normal; font-variant: normal; text-transform: none;">SILICOM LTD.</div>
    <div style="line-height: 1.25;"><br style="line-height: 1.25;">
    </div>
    <div style="text-align: center; line-height: 1.25;"><font style="font-weight: bold;">&#160;</font>(Translation of Registrant's name
      into English)</div>
    <div style="text-align: center; line-height: 1.25; font-style: italic; font-weight: bold;">________________</div>
    <div style="line-height: 1.25;"><br style="line-height: 1.25;">
    </div>
    <div style="text-align: center; line-height: 1.25; font-weight: bold;">14 Atir Yeda St., P.O.Box 2164, Kfar-Sava 4464323, Israel</div>
    <div style="line-height: 1.25;"><br style="line-height: 1.25;">
    </div>
    <div style="text-align: center; line-height: 1.25;">(Address of principal executive offices)</div>
    <div style="text-align: center; line-height: 1.25; font-style: italic; font-weight: bold;">________________</div>
    <div style="line-height: 1.25;"><br style="line-height: 1.25;">
    </div>
    <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:&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-weight: bold;"></font></div>
    <div style="line-height: 1.25;"><font style="font-weight: bold;"> <br>
      </font></div>
    <div style="text-align: center; line-height: 1.25; font-family: 'Times New Roman',Times,serif;"><font style="font-weight: bold;">Form 20-F &#9745;<font style="width: 9pt; font-size: 1px; display: inline-block;" class="HorizontalTab"> </font></font><font style="font-weight: bold;">Form 40-F</font> &#9744;</div>
    <div style="line-height: 1.25;"><br style="line-height: 1.25;">
    </div>
    <div style="line-height: 1.25;">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;"><br style="line-height: 1.25;">
    </div>
    <div style="line-height: 1.25;">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>
    <div style="line-height: 1.25;"><br style="line-height: 1.25;">
    </div>
    <div style="line-height: 1.25;">Indicate by check mark whether the registrant by furnishing
        the information contained in this form is also thereby furnishing the information to the Commission pursuant to Rule 12g3-2(b) under the Securities Exchange Act of 1934:&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-weight: bold;"></font></div>
    <div style="line-height: 1.25;"><font style="font-weight: bold;"> <br>
      </font></div>
    <div style="text-align: center; line-height: 1.25; font-family: 'Times New Roman',Times,serif;"><font style="font-weight: bold;">Yes &#9744;<font style="width: 9pt; font-size: 1px; display: inline-block;" class="HorizontalTab"> </font></font><font style="font-weight: bold;">No</font> <font style="font-weight: bold;">&#9745;</font></div>
    <div style="line-height: 1.25;"> <br>
    </div>
    <div style="line-height: 1.25;">If &#8220;Yes&#8221; is marked, indicate below the file number assigned to the registrant in connection with Rule 12g3-2(b): 82-______</div>
    <div style="line-height: 1.25;">
      <div style="line-height: 1.25;"><br style="line-height: 1.25;">
      </div>
      <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" id="DSPFPageBreakArea">
        <div style="page-break-after: always;" id="DSPFPageBreak">
          <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; line-height: 1.25;">Silicom Ltd. (the &#8220;Registrant&#8221;) will hold an Annual General Meeting of Shareholders on June 8, 2020 at 14:00 (Israel time), at the
      Registrant&#8217;s offices at 14 Atir Yeda Street, Kfar Sava 4464323, Israel (the &#8220;Meeting&#8221;).</div>
    <div style="line-height: 1.25;"><br style="line-height: 1.25;">
    </div>
    <div style="text-align: justify; line-height: 1.25;">In connection with the Meeting, on or about May 5, 2020, the Registrant will mail to shareholders the Notice of Annual General Meeting,
      Proxy Statement and Proxy Card.</div>
    <div style="line-height: 1.25;"><br style="line-height: 1.25;">
    </div>
    <div style="line-height: 1.25;"><font style="font-weight: bold;"><u>Exhibit Index</u></font>:</div>
    <div style="line-height: 1.25">&#160;</div>
    <div style="text-align: justify; text-indent: 36pt; line-height: 1.25;"><a href="exhibit_1.htm">Exhibit
        1: Notice of Annual General Meeting.</a></div>
    <div style="text-align: justify; text-indent: 36pt; line-height: 1.25;"><a href="exhibit_2.htm">Exhibit
        2: Proxy Statement.</a></div>
    <div style="text-indent: 28.35pt; margin-left: 7.65pt; line-height: 1.25;"><a href="exhibit_3.htm">Exhibit 3: Proxy Card.</a></div>
    <div style="line-height: 1.25;"><br style="line-height: 1.25;">
    </div>
    <div style="text-align: justify; line-height: 1.25;">This report on Form 6-K is incorporated by reference into all effective registration statements filed by the Registrant under the
      Securities Act of 1933.</div>
    <div style="line-height: 1.25;"><br style="line-height: 1.25;">
    </div>
    <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" id="DSPFPageBreakArea">
      <div style="page-break-after: always;" id="DSPFPageBreak">
        <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;"><br style="line-height: 1.25;">
    </div>
    <div style="text-align: center; line-height: 1.25;">Signature</div>
    <div style="line-height: 1.25;"><br style="line-height: 1.25;">
    </div>
    <div style="line-height: 1.25;">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>
    <div style="line-height: 1.25;"><br style="line-height: 1.25;">
    </div>
    <table cellspacing="0" cellpadding="0" border="0" id="z56f2808197014076837f838a387aa813" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

        <tr>
          <td style="width: 50%; vertical-align: top;">&#160;</td>
          <td style="width: 30%; vertical-align: top;">
            <div style="text-align: center; line-height: 1.25; font-family: 'Times New Roman',Times,serif;">Silicom Ltd.</div>
          </td>
          <td style="width: 20%; vertical-align: top;">&#160;</td>
        </tr>
        <tr>
          <td style="width: 50%; vertical-align: top;">&#160;</td>
          <td style="width: 30%; vertical-align: top;">
            <div style="text-align: center; line-height: 1.25; font-family: 'Times New Roman',Times,serif;">(Registrant)</div>
          </td>
          <td style="width: 20%; vertical-align: top;">&#160;</td>
        </tr>
        <tr>
          <td style="width: 50%; vertical-align: top;">&#160;</td>
          <td style="width: 30%; vertical-align: top;">&#160;</td>
          <td style="width: 20%; vertical-align: top;">&#160;</td>
        </tr>
        <tr>
          <td style="width: 50%; vertical-align: top;">&#160;</td>
          <td style="width: 30%; vertical-align: top;">
            <div style="text-align: center; line-height: 1.25;"><u>/s/ Yeshayahu (&#8216;Shaike&#8217;) Orbach</u></div>
          </td>
          <td style="width: 20%; vertical-align: top;">&#160;</td>
        </tr>
        <tr>
          <td style="width: 50%; vertical-align: top;">&#160;</td>
          <td style="width: 30%; vertical-align: top;">
            <div style="text-align: center; line-height: 1.25;">Yeshayahu (&#8216;Shaike&#8217;) Orbach</div>
          </td>
          <td style="width: 20%; vertical-align: top;">&#160;</td>
        </tr>
        <tr>
          <td style="width: 50%; vertical-align: top;">&#160;</td>
          <td style="width: 30%; vertical-align: top;">
            <div style="text-align: center; line-height: 1.25;">DIRECTOR, PRESIDENT AND CHIEF </div>
            <div style="text-align: center; line-height: 1.25;">EXECUTIVE OFFICER</div>
          </td>
          <td style="width: 20%; vertical-align: top;">&#160;</td>
        </tr>

    </table>
    <div style="line-height: 1.25;"><br style="line-height: 1.25;">
    </div>
    <div style="line-height: 1.25;">Dated:&#160; April 27, 2020</div>
    <div style="line-height: 1.25;"><br style="line-height: 1.25;">
    </div>
    <div style="line-height: 1.25;">
      <hr align="center" style="border: none; border-bottom: 4px solid black; border-top: 1px solid black; height: 10px; color: #ffffff; background-color: #ffffff; text-align: center; margin-left: auto; margin-right: auto;"></div>
    <div style="line-height: 1.25;"><br style="line-height: 1.25;">
    </div>
    <br>
  </div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99
<SEQUENCE>2
<FILENAME>exhibit_1.htm
<DESCRIPTION>EXHIBIT 1
<TEXT>
<html>
  <head>
    <title></title>
    <!-- Licensed to: company
         Document created using EDGARfilings PROfile 6.5.1.0
         Copyright 1995 - 2020 Broadridge -->
  </head>
<body bgcolor="#ffffff" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; text-align: left; color: #000000;">
  <div>
    <hr align="center" style="border: none; border-bottom: 1px solid black; border-top: 4px solid black; height: 10px; color: #ffffff; background-color: #ffffff; text-align: center; margin-left: auto; margin-right: auto;">
    <div style="text-align: right;"> <u><font style="font-weight: bold;">Exhibit 1</font></u><br>
    </div>
    <div> <br>
    </div>
    <div>
      <div style="text-align: center; line-height: 1.25; font-weight: bold;">SILICOM LTD.</div>
      <div style="line-height: 1.25">&#160;</div>
      <div style="text-align: center; line-height: 1.25; font-weight: bold;">NOTICE OF ANNUAL GENERAL MEETING OF SHAREHOLDERS</div>
      <div style="line-height: 1.25">&#160;</div>
      <div style="text-align: center; line-height: 1.25; font-weight: bold;">April 27, 2020</div>
      <div style="line-height: 1.25">&#160;</div>
      <div style="text-align: justify; text-indent: 36pt; line-height: 1.25;">Notice is hereby given that an Annual General Meeting (the "<font style="font-weight: bold;">Meeting</font>") of Shareholders of Silicom Ltd. (the "<font style="font-weight: bold;">Company</font>") will be held,&#160;at the offices of the Company at 14 Atir Yeda Street, Kfar Sava 4464323, Israel, on Monday, June 8, 2020, at 14:00 Israel time.</div>
      <div style="line-height: 1.25">&#160;</div>
      <div style="text-align: justify; text-indent: 36pt; line-height: 1.25;">The Company is an Abroad Company, as such term is defined in the Israeli Companies Regulations (Concessions for Public Companies Traded on Stock Markets Outside of Israel) &#8211;
        2000.</div>
      <div style="line-height: 1.25">&#160;</div>
      <div style="text-align: justify; text-indent: 35.35pt; line-height: 1.25;">The Meeting is being called for the following purposes:</div>
      <div style="line-height: 1.25">&#160;</div>
      <div style="text-align: justify; text-indent: 49.65pt; line-height: 1.25;">1.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;To consider and act upon a proposal to re-elect Mr. Yeshayahu ('Shaike') Orbach, to the Company's Board of Directors, to hold office as director for a three-year
        term commencing on the date of the Meeting until the Annual General Meeting of Shareholders to be held in the year 2023, and until his successor has been duly elected.</div>
      <div style="line-height: 1.25">&#160;</div>
      <div style="text-align: justify; text-indent: 49.65pt; line-height: 1.25;">2.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;To consider and act upon a proposal to approve the grant of 13,333 options to purchase Ordinary Shares of the Company pursuant to the Plan and in compliance with
        the Compensation Policy and the Compensation Policy Cap to Mr. Avi Eizenman, the Company's Active Chairman of the Board of Directors.</div>
      <div style="line-height: 1.25">&#160;</div>
      <div style="text-align: justify; text-indent: 49.65pt; line-height: 1.25;">3.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;To consider and act upon a proposal to approve the grant of 13,333 options to purchase Ordinary Shares of the Company pursuant to the Plan and in compliance with
        the Compensation Policy and the Compensation Policy Cap to Mr. Yeshayahu ('Shaike') Orbach, the Company's President and Chief Executive Officer.</div>
      <div style="line-height: 1.25">&#160;</div>
      <div style="text-align: justify; text-indent: 49.65pt; line-height: 1.25;">4.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;To consider and act upon a proposal to approve the grant of 25,000 Restricted Stock Units pursuant to the Plan and in compliance with the Compensation Policy and
        the Compensation Policy Cap to Mr. Yeshayahu ('Shaike') Orbach, the Company's President and Chief Executive Officer.</div>
      <div style="line-height: 1.25">&#160;</div>
      <div style="text-align: justify; text-indent: 49.65pt; line-height: 1.25;">5.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;To consider and act upon a proposal to approve the grant of 25,000 Restricted Stock Units pursuant to the Plan and in compliance with the Compensation Policy and
        the Compensation Policy Cap to Mr. Avi Eizenman, the Company's Active Chairman of the Board of Directors.</div>
      <div style="line-height: 1.25">&#160;</div>
      <div style="text-align: justify; text-indent: 49.65pt; line-height: 1.25;">6.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;To consider and act upon a proposal to approve the appointment of Somekh Chaikin, Certified Public Accountants (Israel), a member of KPMG International, as the
        independent public accountants of the Company for year ending December 31, 2020, and until the next annual general meeting of the shareholders of the Company, and to authorize the Audit Committee of the Board of Directors to fix the compensation of
        such auditors in accordance with the amount and nature of their services.</div>
      <div style="line-height: 1.25">&#160;</div>
      <div style="text-align: justify; text-indent: 49.65pt; line-height: 1.25;">7.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;To review the Company's Financial Statements and Annual Report for the year ended December 31, 2019, and to transact such other business as may properly come
        before the Meeting.</div>
      <div style="line-height: 1.25">&#160;</div>
      <div style="text-align: justify; text-indent: 36pt; line-height: 1.25;">Shareholders of record at the close of business on May 1, 2020 will be entitled to vote at the Meeting or any postponements or adjournments thereof. Shareholders who do not
        expect to attend the Meeting in person are requested to mark, date, sign and mail the enclosed proxy as promptly as possible.</div>
      <div style="line-height: 1.25">&#160;</div>
      <div style="line-height: 1.25">
        <table cellspacing="0" cellpadding="0" border="0" style="font-family: 'Times New Roman',Times,serif; font-size: 10pt; width: 100%; text-align: left; color: rgb(0, 0, 0);" id="z280cc55909494711a0cf707a962f2473">

            <tr>
              <td style="width: 50%; vertical-align: top;">&#160;</td>
              <td style="width: 50%; vertical-align: top;">
                <div style="line-height: 1.25; font-family: 'Times New Roman', Times, serif;">By Order of the Board of Directors</div>
                <div style="line-height: 1.25; font-family: 'Times New Roman', Times, serif;"> <br>
                </div>
              </td>
            </tr>
            <tr>
              <td style="width: 50%; vertical-align: top;">&#160;</td>
              <td style="width: 50%; vertical-align: top;">
                <div style="line-height: 1.25; font-family: 'Times New Roman', Times, serif; font-weight: bold;">SILICOM LTD.</div>
              </td>
            </tr>
            <tr>
              <td style="width: 50%; vertical-align: top;">&#160;</td>
              <td style="width: 50%; vertical-align: top;">&#160;</td>
            </tr>
            <tr>
              <td style="width: 50%; vertical-align: top;">&#160;</td>
              <td style="width: 50%; vertical-align: top;">
                <div style="line-height: 1.25; font-family: 'Times New Roman', Times, serif;"><u>/s/ Yeshayahu ('Shaike') Orbach</u></div>
              </td>
            </tr>
            <tr>
              <td style="width: 50%; vertical-align: top;">&#160;</td>
              <td style="width: 50%; vertical-align: top;">
                <div style="line-height: 1.25; font-family: 'Times New Roman', Times, serif;">Yeshayahu ('Shaike') Orbach</div>
              </td>
            </tr>
            <tr>
              <td style="width: 50%; vertical-align: top;">
                <div style="line-height: 1.25; font-family: 'Times New Roman', Times, serif;">Date: April 27, 2020</div>
              </td>
              <td style="width: 50%; vertical-align: top;">
                <div style="line-height: 1.25; font-family: 'Times New Roman', Times, serif;">Director, President and Chief Executive Officer</div>
              </td>
            </tr>

        </table>
        &#160;</div>
      <div style="line-height: 1.25;">
        <hr align="center" style="border: none; border-bottom: 4px solid black; border-top: 1px solid black; height: 10px; color: #ffffff; background-color: #ffffff; text-align: center; margin-left: auto; margin-right: auto;"></div>
      <div style="line-height: 1.25">&#160;</div>
    </div>
  </div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99
<SEQUENCE>3
<FILENAME>exhibit_2.htm
<DESCRIPTION>EXHIBIT 2
<TEXT>
<html>
  <head>
    <title></title>
    <!-- Licensed to: company
         Document created using EDGARfilings PROfile 6.5.1.0
         Copyright 1995 - 2020 Broadridge -->
  </head>
<body bgcolor="#ffffff" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; text-align: left; color: #000000;">
  <div>
    <hr align="center" style="border: none; border-bottom: 1px solid black; border-top: 4px solid black; height: 10px; color: #ffffff; background-color: #ffffff; text-align: center; margin-left: auto; margin-right: auto;">
    <div style="text-align: right;"> <u><font style="font-weight: bold;">Exhibit 2</font></u><br>
    </div>
    <div> <br>
    </div>
    <div>
      <div style="text-align: center; line-height: 1.25; font-weight: bold;">PROXY STATEMENT<br>
        ________________</div>
      <div style="line-height: 1.25">&#160; <br>
      </div>
      <div style="line-height: 1.25;">
        <div style="text-align: center; line-height: 1.25; font-weight: bold;">SILICOM LTD.<br>
          14 Atir Yeda St.<br>
          Kfar Sava<br>
          Israel</div>
        <div style="line-height: 1.25">
          <hr align="center" style="height: 1px; width: 100%; color: #000000; background-color: #000000; text-align: center; margin-left: auto; margin-right: auto; border: none;"></div>
      </div>
      <div style="text-align: center; line-height: 1.25; font-weight: bold;"> <br>
      </div>
      <div style="text-align: center; line-height: 1.25; font-weight: bold;">ANNUAL GENERAL MEETING OF SHAREHOLDERS<br>
        June 8, 2020</div>
      <div style="line-height: 1.25">&#160;</div>
      <div style="text-align: justify; text-indent: 28.35pt; line-height: 1.25;">The enclosed proxy is being solicited by the board of directors (the "<font style="font-weight: bold;">Board of Directors</font>") of Silicom Ltd. (the "<font style="font-weight: bold;">Company</font>") for use at the Company's Annual General Meeting of Shareholders (the "<font style="font-weight: bold;">Meeting</font>") to be held on Monday, June 8, 2020, at 14:00 Israel time, or at any adjournment or
        postponement thereof. Upon the receipt of a properly executed proxy in the form enclosed, the persons named as proxies therein will vote the ordinary shares, par value New Israeli Shekels ("<font style="font-weight: bold;">NIS</font>") 0.01 each,
        of the Company (the "<font style="font-weight: bold;">Ordinary Shares</font>") covered thereby in accordance with the directions of the shareholders executing the proxy. In the absence of such directions, and except as mentioned otherwise in this
        proxy statement, the Ordinary Shares represented thereby will be voted in favor of each of the proposals described in this proxy statement.</div>
      <div style="line-height: 1.25">&#160;</div>
      <div style="text-align: justify; text-indent: 28.35pt; line-height: 1.25;">The proxy solicited hereby may be revoked at any time prior to its exercise, by means of a written notice delivered to the Company, by substitution of a new proxy bearing a
        later date or by a request for the return of the proxy at the Meeting. The Company expects to solicit proxies by mail and to mail this proxy statement and the accompanying proxy card to shareholders on or about May 5, 2020. Directors, officers and
        employees of the Company may also solicit proxies by telephone, facsimile and personal interview.</div>
      <div style="line-height: 1.25">&#160;</div>
      <div style="text-align: justify; text-indent: 28.35pt; line-height: 1.25;">
        <div style="text-indent: 28.35pt; line-height: 1.25;">The Company will bear the cost of the preparation and mailing of its proxy materials and the solicitation of
          proxies. Copies of solicitation materials will be furnished to brokerage firms, nominees, fiduciaries and other custodians for forwarding to their principals, and the reasonable fees and expenses of such forwarding agents will be borne by the
          Company. Only holders of record of Ordinary Shares at the close of business in New York, NY, USA on May 1, 2020 are entitled to vote at the Meeting. On April 24, 2020, 7,175,734
          Ordinary Shares were outstanding and entitled to vote. Each Ordinary Share is entitled to one vote on each matter to be voted at the Meeting.</div>
        <div style="line-height: 1.25">&#160;</div>
      </div>
      <div style="text-align: justify; text-indent: 28.35pt; line-height: 1.25;">Two or more shareholders present, personally or by proxy, holding not less than thirty three and a third percent (33 1/3%) of the Company's outstanding Ordinary Shares, shall
        constitute a quorum for the Meeting. If within half an hour from the time the Meeting is convened a quorum is not present, the Meeting shall stand adjourned until Monday, June 15, 2020 at 14:00<font style="font-weight: bold;">&#160;</font>Israel time.
        If a quorum is not present at the adjourned meeting within half an hour from the time appointed for such meeting, two or more shareholders present personally or by proxy shall be deemed a quorum, and shall be entitled to deliberate and to resolve
        in respect of the matters for which the Meeting was convened. Abstentions and broker non-votes are counted as Ordinary Shares present for the purpose of determining a quorum.</div>
      <div style="line-height: 1.25">&#160;</div>
      <div style="text-align: justify; text-indent: 28.35pt; line-height: 1.25;">Pursuant to the Israeli Companies Law, 1999-5759 (the "<font style="font-weight: bold;">Companies Law</font>"), each of Proposals 2, 5 and 6 requires the affirmative vote of
        shareholders present at the Meeting, in person or by proxy, and holding Ordinary Shares of the Company amounting in the aggregate to at least a majority of the votes actually cast by shareholders with respect to such proposals (hereinafter an "<font style="font-weight: bold;">Ordinary Majority</font>").</div>
      <div style="line-height: 1.25">&#160;</div>
      <div style="text-align: justify; text-indent: 28.35pt; line-height: 1.25;">Pursuant to the Companies Law, each of Proposals 1, 3 and 4, requires the affirmative vote of a simple majority of shares present at the Meeting, in person or by proxy, and
        voting thereon, as long as either:</div>
      <div style="line-height: 1.25">&#160;</div>
      <div style="text-align: justify; line-height: 1.25;">
        <div>
          <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="zbf9a7d3fb22a48b09dd914813e41d458">

              <tr>
                <td style="width: 54pt;"><br>
                </td>
                <td style="width: 18pt; vertical-align: top; align: right;">&#8226;</td>
                <td style="width: auto; vertical-align: top; text-align: justify;">
                  <div>the majority of shares that voted for the approval of the proposal includes at least majority of the shares held by non-controlling and non-interested shareholders voted at the meeting, (excluding abstaining votes); or</div>
                </td>
              </tr>

          </table>
        </div>
      </div>
      <div style="line-height: 1.25">&#160;</div>
      <div id="DSPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
        <div id="DSPFPageBreak" style="page-break-after: always;">
          <hr noshade="noshade" style="border-width: 0px; clear: both; margin: 4px 0px; width: 100%; height: 2px; color: #000000; background-color: #000000;"></div>
      </div>
      <!--PROfilePageNumberReset%Num%2%- % -%-->
      <div style="line-height: 1.25">&#160;</div>
      <div style="text-align: justify; line-height: 1.25;">
        <div>
          <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="z6cb9d99704b54d78a1dda280842ec60c">

              <tr>
                <td style="width: 54pt;"><br>
                </td>
                <td style="width: 18pt; vertical-align: top; align: right;">&#8226;</td>
                <td style="width: auto; vertical-align: top; text-align: justify;">
                  <div>the total number of shares of non-controlling and non-interested shareholders that voted against the approval of the proposal does not exceed two percent of the aggregate voting rights in the Company.</div>
                </td>
              </tr>

          </table>
        </div>
      </div>
      <div style="line-height: 1.25">&#160;</div>
      <div style="text-align: justify; text-indent: 28.35pt; line-height: 1.25;">Shareholders are requested to notify us whether or not they have a "Personal Interest" in connection with each of Proposals 1, 3, and 4 (please see the definition of the term
        "Personal Interest" with respect to such proposal below under the description of the proposal). If any shareholder casting a vote in connection thereto does not notify us as to whether or not they have a Personal Interest with respect to each of
        Proposals 1, 3, and 4 they will be deemed as having a Personal Interest with respect to such proposal and their vote will not be counted for the special disinterested majority required for the approval of such proposal. </div>
      <div style="line-height: 1.25">&#160;</div>
      <div style="text-align: center; line-height: 1.25; font-weight: bold;">PRINCIPAL SHAREHOLDERS</div>
      <div style="line-height: 1.25">&#160;</div>
      <div style="text-align: justify; text-indent: 28.35pt; line-height: 1.25;">The following table sets forth, as of March 31, 2020, the number of Ordinary Shares, including options and warrants to purchase Ordinary Shares exercisable within 60 days,
        owned by (i) all shareholders known to the Company to own more than five percent (5%) of the Company's Ordinary Shares and (ii) all directors and officers as a group (based on 7,231,907 Ordinary Shares outstanding on that date). Each of our
        shareholders has identical voting rights with respect to its shares. All of the information with respect to beneficial ownership of the Ordinary Shares is given to the best of our knowledge. Except where otherwise indicated, and subject to
        applicable community property laws, we believe, based on information furnished to us by such owners or otherwise disclosed in any public filings, that the beneficial owners of the Ordinary Shares listed below have sole dispositive and voting power
        with respect to such Ordinary Shares.</div>
      <div style="line-height: 1.25">&#160;</div>
      <div style="line-height: 1.25">
        <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; text-align: left; color: #000000; width: 100%;" id="zaf347d7822184fa1b34af5c27ea4c6cb">

            <tr>
              <td style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
                <div style="line-height: 1.25; font-family: 'Times New Roman',Times,serif; font-weight: bold;">Name of Shareholder</div>
              </td>
              <td valign="bottom" style="vertical-align: bottom; padding-bottom: 2px;" colspan="1">&#160;</td>
              <td valign="bottom" style="vertical-align: top; border-bottom: 2px solid rgb(0, 0, 0);" colspan="2">
                <div style="text-align: center; line-height: 1.25; font-family: 'Times New Roman',Times,serif;"><font style="font-weight: bold;">Number of
                    Shares and Options Owned</font><sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">(1)</sup></div>
              </td>
              <td valign="bottom" nowrap="nowrap" style="text-align: center; vertical-align: bottom; padding-bottom: 2px;" colspan="1">&#160;</td>
              <td valign="bottom" style="vertical-align: bottom; padding-bottom: 2px; text-align: center;" colspan="1">&#160;</td>
              <td valign="bottom" style="vertical-align: top; border-bottom: 2px solid rgb(0, 0, 0);" colspan="2">
                <div style="text-align: center; line-height: 1.25; font-family: 'Times New Roman',Times,serif; font-weight: bold;">Percentage of Outstanding Shares</div>
              </td>
              <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; padding-bottom: 2px;" colspan="1">&#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;">Wellington Management Group LLP<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%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
              <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
              <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);" colspan="1">
                <div style="line-height: 1.25;">1,003,394</div>
              </td>
              <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
              <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
              <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
              <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);" colspan="1">
                <div style="line-height: 1.25;">13.87</div>
              </td>
              <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">
                <div style="line-height: 1.25;">%</div>
              </td>
            </tr>
            <tr>
              <td valign="bottom" style="vertical-align: top; width: 76%; background-color: rgb(255, 255, 255);">
                <div style="line-height: 1.25;">Wellington Trust Company, NA<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(255, 255, 255);" colspan="1">&#160;</td>
              <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);" colspan="1">&#160;</td>
              <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(255, 255, 255);" colspan="1">
                <div style="line-height: 1.25;">930,035</div>
              </td>
              <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);" colspan="1">&#160;</td>
              <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);" colspan="1">&#160;</td>
              <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);" colspan="1">&#160;</td>
              <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(255, 255, 255);" colspan="1">
                <div style="line-height: 1.25;">12.86</div>
              </td>
              <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);" colspan="1">
                <div style="line-height: 1.25;">%</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;">Wellington Trust Company, National Association Multiple Common Trust Funds Trust, Micro Cap Equity Portfolio<sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">(4)</sup></div>
              </td>
              <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
              <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
              <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);" colspan="1">
                <div style="line-height: 1.25;">425,033</div>
              </td>
              <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
              <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
              <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
              <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);" colspan="1">
                <div style="line-height: 1.25;">5.88</div>
              </td>
              <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">
                <div style="line-height: 1.25;">%</div>
              </td>
            </tr>
            <tr>
              <td valign="bottom" style="vertical-align: top; width: 76%; background-color: rgb(255, 255, 255);">
                <div style="line-height: 1.25;">Zohar Zisapel<sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">(5)</sup></div>
              </td>
              <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);" colspan="1">&#160;</td>
              <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);" colspan="1">&#160;</td>
              <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(255, 255, 255);" colspan="1">
                <div style="line-height: 1.25;">723,706</div>
              </td>
              <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);" colspan="1">&#160;</td>
              <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);" colspan="1">&#160;</td>
              <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);" colspan="1">&#160;</td>
              <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(255, 255, 255);" colspan="1">
                <div style="line-height: 1.25;">10.01</div>
              </td>
              <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);" colspan="1">
                <div style="line-height: 1.25;">%</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;">Ibex Investors LLC/ Justin B. Borus, Ibex Israel Fund LLLP/Ibex GP&#160;LLC/Ibex Investment Holdings LLC/Ibex Investment Holdings II
                  LLC<sup style="vertical-align: text-top; line-height: 1; font-size: smaller;"> (6)</sup></div>
              </td>
              <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
              <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
              <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);" colspan="1">
                <div style="line-height: 1.25;">530,700</div>
              </td>
              <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
              <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
              <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
              <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);" colspan="1">
                <div style="line-height: 1.25;">7.34</div>
              </td>
              <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">
                <div style="line-height: 1.25;">%</div>
              </td>
            </tr>
            <tr>
              <td valign="bottom" style="vertical-align: top; width: 76%; background-color: rgb(255, 255, 255);">
                <div style="line-height: 1.25;">Dov Yelin/Yair Lapidot/Yelin Lapidot Holdings
                    Management Ltd./ Yelin Lapidot Mutual Funds Management Ltd.<sup style="vertical-align: text-top; line-height: 1; font-size: smaller;"> (</sup><sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">7)</sup></div>
              </td>
              <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);" colspan="1">&#160;</td>
              <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);" colspan="1">&#160;</td>
              <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(255, 255, 255);" colspan="1">
                <div style="line-height: 1.25;">470,091</div>
              </td>
              <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);" colspan="1">&#160;</td>
              <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);" colspan="1">&#160;</td>
              <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);" colspan="1">&#160;</td>
              <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(255, 255, 255);" colspan="1">
                <div style="line-height: 1.25;">6.50</div>
              </td>
              <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);" colspan="1">
                <div style="line-height: 1.25;">%</div>
              </td>
            </tr>

        </table>
      </div>
      <div style="line-height: 1.25"> <br>
      </div>
      <div id="DSPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
        <div id="DSPFPageNumberArea" style="text-align: center;"><font id="DSPFPageNumber" style="font-weight: normal; font-style: normal;">- 2 -</font></div>
        <div id="DSPFPageBreak" style="page-break-after: always;">
          <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">
        <div style="line-height: 1.25;"><br style="line-height: 1.25;">
        </div>
        <div style="line-height: 1.25">&#160;</div>
        <div style="text-align: justify; line-height: 1.25;">
          <div>
            <table cellspacing="0" cellpadding="0" id="z0ec9c0f4168d4602b3eda5f390b883fa" 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;"><br>
                  </td>
                  <td style="width: 18pt; vertical-align: top; align: right;">(1)</td>
                  <td style="width: auto; vertical-align: top; text-align: justify;">
                    <div>The table above includes the number of shares and options that are exercisable within 60 days of March 31, 2020. Ordinary shares subject to these options are
                      deemed beneficially owned for the purpose of computing the ownership percentage of the person or group holding these options, but are not deemed outstanding for purposes of computing the ownership percentage of any other person.
                      Except where otherwise indicated, and subject to applicable community property laws, based on information furnished to us by such owners or otherwise disclosed in any public filings, to our knowledge, the persons and entities named in
                      the table have sole voting and dispositive power with respect to all shares shown as beneficially owned by them. All the information detailed in this table is as set forth in major shareholders' public filings, unless stated
                      otherwise.</div>
                  </td>
                </tr>

            </table>
          </div>
        </div>
        <div style="line-height: 1.25">&#160;</div>
        <div style="text-align: justify; line-height: 1.25;">
          <div>
            <table cellspacing="0" cellpadding="0" id="zfdcb21405cf043a199c72d97ce75595a" 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;"><br>
                  </td>
                  <td style="width: 18pt; vertical-align: top; align: right;">(2)</td>
                  <td style="width: auto; vertical-align: top; text-align: justify;">
                    <div>As reported on the Schedule 13G/A filed by Wellington Management Group LLP, Wellington Group Holdings LLP, Wellington Investment Advisors Holdings LLP and
                      Wellington Management Company LLP with the SEC on January 28, 2020. The securities as to which the Schedule was filed are owned of record by clients of one or more investment advisers, which are directly or indirectly owned by
                      Wellington Management Group LLP.</div>
                  </td>
                </tr>

            </table>
          </div>
        </div>
        <div style="line-height: 1.25">&#160;</div>
        <div style="text-align: justify; margin-left: 35.45pt; line-height: 1.25;">Those clients have the right to
            receive, or the power to direct the receipt of, dividends from, or the proceeds from the sale of, such securities. No such client is known to have such right or power with respect to more than 5% of this class of securities, except for:&#160;Wellington Trust Company, NA and Wellington Trust Company, National Association Multiple Common Trust Funds Trust, Micro Cap Equity Portfolio.</div>
        <div style="line-height: 1.25">&#160;</div>
        <div style="text-align: justify; margin-left: 35.45pt; line-height: 1.25;">The relevant entities that
            beneficially own shares of the security class that were reported on the Schedule are: Wellington Group Holdings LLP, Wellington Investment Advisors LLP,
            Wellington Management Global Holdings, Ltd., one or more of the following investment advisers (the "<font style="font-weight: bold;">Wellington Investment Advisers</font>"): Wellington Management Company LLP, Wellington Management Canada LLC, Wellington Management Singapore Pte Ltd., Wellington Management Hong Kong Ltd., Wellington
            Management International Ltd., Wellington Management Japan Pte Ltd., Wellington Management Australia Pty Ltd.</div>
        <div style="line-height: 1.25">&#160;</div>
        <div style="text-align: justify; margin-left: 35.45pt; line-height: 1.25;">The securities as to which the Schedule was filed by Wellington Management Group LLP, as parent holding
          company of certain holding companies and the Wellington Investment Advisers, are owned of record by clients of the Wellington Investment Advisers. Wellington Investment Advisors Holdings LLP controls directly, or indirectly through Wellington
          Management Global Holdings, Ltd., the Wellington Investment Advisers. Wellington Investment Advisors Holdings LLP is owned by Wellington Group Holdings LLP. Wellington Group Holdings LLP is owned by Wellington Management Group LLP.</div>
        <div style="line-height: 1.25">&#160;</div>
        <div style="text-align: justify; line-height: 1.25;">
          <div>
            <table cellspacing="0" cellpadding="0" id="zbe60d6d7a1c84d00bb01db5dccb4b2b0" 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;"><br>
                  </td>
                  <td style="width: 18pt; vertical-align: top; align: right;">(3)</td>
                  <td style="width: auto; vertical-align: top; text-align: justify;">
                    <div>As reported on Schedule 13G filed by Wellington Trust Company, NA with the SEC on January 29, 2020. The securities as to which the Schedule was filed by Wellington Trust Company, NA, in its capacity as investment adviser, are owned of record by clients of Wellington Trust Company, NA. Those clients have the
                        right to receive, or the power to direct the receipt of, dividends from, or the proceeds from the sale of, such securities. No such client is known to have such right or power with respect to more than five percent of this class of
                        securities.</div>
                  </td>
                </tr>

            </table>
          </div>
        </div>
        <div style="line-height: 1.25">&#160;</div>
        <div style="text-align: justify; line-height: 1.25;">
          <div>
            <table cellspacing="0" cellpadding="0" id="z2b100afd1735499283749521166710c9" 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;"><br>
                  </td>
                  <td style="width: 18pt; vertical-align: top; align: right;">(4)</td>
                  <td style="width: auto; vertical-align: top; text-align: justify;">
                    <div>As reported on Schedule 13G filed by Wellington Trust Company, National Association Multiple Common Trust Funds Trust, Micro Cap Equity Portfolio with the SEC
                      on January 30, 2020.</div>
                  </td>
                </tr>

            </table>
          </div>
        </div>
        <div style="line-height: 1.25">&#160;</div>
        <div style="text-align: justify; line-height: 1.25;">
          <div>
            <table cellspacing="0" cellpadding="0" id="z520f71a9ccbe41ceb550f0d437bf332a" 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;"><br>
                  </td>
                  <td style="width: 18pt; vertical-align: top; align: right;">(5)</td>
                  <td style="width: auto; vertical-align: top; text-align: justify;">
                    <div>As reported on Schedule 13D/A filed by Zohar Zisapel with the SEC on January 16, 2019.</div>
                  </td>
                </tr>

            </table>
          </div>
        </div>
        <div style="line-height: 1.25">&#160;</div>
      </div>
      <br>
      <div id="DSPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
        <div id="DSPFPageNumberArea" style="text-align: center;"><font id="DSPFPageNumber" style="font-weight: normal; font-style: normal;">- 3 -</font></div>
        <div id="DSPFPageBreak" style="page-break-after: always;">
          <hr noshade="noshade" style="border-width: 0px; clear: both; margin: 4px 0px; width: 100%; height: 2px; color: #000000; background-color: #000000;"></div>
      </div>
      <br>
      <div style="text-align: justify; line-height: 1.25;">
        <div>
          <table cellspacing="0" cellpadding="0" id="z6082ec61ed1b460ca91ae5dd7c103828" 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;"><br>
                </td>
                <td style="width: 18pt; vertical-align: top; align: right;">(6)</td>
                <td style="width: auto; vertical-align: top; text-align: justify;">
                  <div>As reported on Schedule 13G filed by Ibex Investors LLC (the "<font style="font-weight: bold;">Investment
                      Manager</font>"), Justin B. Borus, Ibex Israel Fund LLLP (the "<font style="font-weight: bold;">Fund</font>"), Ibex GP&#160;LLC (the "<font style="font-weight: bold;">General Partner</font>"), Ibex Investment Holdings LLC ("<font style="font-weight: bold;">IM Holdings</font>") and
                    Ibex Investment Holdings II LLC ("<font style="font-weight: bold;">GP Holdings</font>") with the SEC on January 24, 2020,&#160;the Fund is a private investment vehicle. The Fund
                    directly beneficially owns the Company's ordinary shares detailed in the Schedule. The Investment Manager is the investment manager of the Fund.&#160; IM Holdings is the sole member of the Investment Manager. The General Partner is the
                    general partner of the Fund. GP Holdings is the sole member of the General Partner.&#160;Justin B. Borus is the manager of the Investment Manager, IM Holdings, the General Partner and GP Holdings.&#160;Justin B. Borus, the Investment Manager, IM
                    Holdings, the General Partner and GP Holdings may be deemed to beneficially own the Company's ordinary shares reported in the Schedule, directly beneficially owned by the Fund.&#160;Each of the reporting person detailed in the Schedule
                    disclaimed beneficial ownership with respect to any shares other than the shares directly beneficially owned by such reporting person.</div>
                </td>
              </tr>

          </table>
        </div>
      </div>
      <div style="line-height: 1.25">&#160;</div>
      <div style="text-align: justify; line-height: 1.25;">
        <div>
          <table cellspacing="0" cellpadding="0" id="z2e1c0016895c4bfbabe9103f4ae5834e" 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;"><br>
                </td>
                <td style="width: 18pt; vertical-align: top; align: right;">(7)</td>
                <td style="width: auto; vertical-align: top; text-align: justify;">
                  <div>As reported on the Schedules 13G/A filed by each of Dov Yelin ("<font style="font-weight: bold;">Yelin</font>"),
                    Yair Laipdot ("<font style="font-weight: bold;">Lapidot</font>"), Yelin Lapidot Holdings Management Ltd. ("<font style="font-weight: bold;">Yelin Lapidot Holdings</font>"), and Yelin Lapidot Mutual Funds Management Ltd. (collectively, "<font style="font-weight: bold;">Yelin
                      Lapidot</font>") with the SEC on January 27, 2019, all&#160; ordinary shares of the Company are beneficially owned by provident funds managed by Yelin Lapidot Provident Funds Management Ltd. and/or mutual funds managed by Yelin Lapidot
                    Mutual Funds Management Ltd. (the "<font style="font-weight: bold;">Subsidiaries</font>"), each a wholly-owned subsidiary of Yelin Lapidot Holdings. Messrs. Yelin and
                    Lapidot each own 24.38% of the share capital and 25.004% of the voting rights of Yelin Lapidot Holdings, and are responsible for the day-to-day management of Yelin Lapidot Holdings. The Subsidiaries operate under independent management
                    and make their own independent voting and investment decisions. Any economic interest or beneficial ownership in any of the securities covered by the Schedule is held for the benefit of the members of the provident funds or mutual
                    funds, as the case may be. According to the Schedule, the Schedule shall not be construed as an admission by Messrs. Yelin and Lapidot, Yelin Lapidot Holdings or the Subsidiaries that he or it is the beneficial owner of any of the
                    securities covered by the Schedule, and each of Messrs. Yelin and Lapidot, Yelin Lapidot Holdings, and the Subsidiaries disclaims beneficial ownership of any such securities.</div>
                </td>
              </tr>

          </table>
        </div>
      </div>
      <div style="line-height: 1.25">&#160;</div>
      <div style="text-align: center; line-height: 1.25; font-weight: bold;">COMPENSATION OF OFFICERS</div>
      <div style="line-height: 1.25">&#160;</div>
      <div style="text-align: justify; text-indent: 28.35pt; line-height: 1.25;">For details concerning the compensation granted to the Company's five most highly compensated office holders (as defined in the Companies Law) during or with respect to the
        year ended December 31, 2019, see the Company's annual report on Form 20-F filed with the Securities and Exchange Commission on April 27, 2020.</div>
      <div style="line-height: 1.25">&#160;</div>
      <div style="text-align: center; line-height: 1.25;">*&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;*&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;*&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;*&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;*</div>
      <div style="line-height: 1.25">&#160;</div>
      <div id="DSPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
        <div id="DSPFPageNumberArea" style="text-align: center;"><font id="DSPFPageNumber" style="font-weight: normal; font-style: normal;">- 4 -</font></div>
        <div id="DSPFPageBreak" style="page-break-after: always;">
          <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">&#160;</div>
      <div style="text-align: center; line-height: 1.25; font-weight: bold;">PROPOSAL 1</div>
      <div style="line-height: 1.25">&#160;</div>
      <div style="text-align: center; line-height: 1.25; font-weight: bold;">TO RE-ELECT MR. YESHAYAHU ('SHAIKE') ORBACH TO HOLD OFFICE AS </div>
      <div style="text-align: center; line-height: 1.25; font-weight: bold;">DIRECTOR FOR A THREE YEAR TERM COMMENCING ON THE DATE OF THE MEETING</div>
      <div style="line-height: 1.25">&#160;</div>
      <div style="text-align: justify; text-indent: 36pt; line-height: 1.25;">The management of the Company has selected Mr. Yeshayahu ('Shaike') Orbach for re-election as director to serve for an additional three-year term commencing on the date of the
        Meeting until the end of his term and until his successor is duly elected. In the absence of instructions to the contrary, the persons named in the enclosed proxy will vote the Ordinary Shares represented thereby "FOR" the election of Mr. Yeshayahu
        ('Shaike') Orbach. If Mr. Yeshayahu ('Shaike') Orbach is unable to serve, the persons named in the proxy shall vote the Ordinary Shares for the election of such other nominee as management may propose. Mr. Yeshayahu ('Shaike') Orbach, who is
        currently serving as a director of the Company, has advised the Company that he will continue to serve as director if re-elected.</div>
      <div style="line-height: 1.25">&#160;</div>
      <div style="text-align: justify; text-indent: 35.45pt; line-height: 1.25;">Mr. Yeshayahu ('Shaike') Orbach has attested to the Board of Directors and the Company that he meets all the requirements in connection with the election of directors of
        publicly traded companies under the Companies Law and the regulations promulgated thereunder.</div>
      <div style="line-height: 1.25">&#160;</div>
      <div style="text-align: justify; text-indent: 36pt; line-height: 1.25;">The following table provides certain relevant information concerning Mr. Yeshayahu ('Shaike') Orbach, including his principal occupation during the past five years.</div>
      <div style="line-height: 1.25">&#160;</div>
      <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" id="z7968d713977b473b9b3d599cc38750ed">

          <tr>
            <td style="width: 18.44%; vertical-align: top;">
              <div style="text-align: center; line-height: 1.25; font-weight: bold;"><u>Nominee</u></div>
            </td>
            <td style="width: 7.99%; vertical-align: top;">
              <div style="text-align: center; line-height: 1.25; font-weight: bold;"><u>Age</u></div>
            </td>
            <td style="width: 73.57%; vertical-align: top;">
              <div style="text-align: center; line-height: 1.25; font-weight: bold;"><u>Principal Occupation</u></div>
            </td>
          </tr>
          <tr>
            <td rowspan="1" style="width: 18.44%; vertical-align: top;">&#160;</td>
            <td rowspan="1" style="width: 7.99%; vertical-align: top;">&#160;</td>
            <td rowspan="1" style="width: 73.57%; vertical-align: top;">&#160;</td>
          </tr>
          <tr>
            <td style="width: 18.44%; vertical-align: top;">
              <div style="text-align: center; line-height: 1.25;">Yeshayahu ('Shaike') Orbach</div>
            </td>
            <td style="width: 7.99%; vertical-align: top;">
              <div style="text-align: center; line-height: 1.25;">68</div>
            </td>
            <td style="width: 73.57%; vertical-align: top;">
              <div style="text-align: justify; line-height: 1.25;">Mr. Orbach has been our President and Chief Executive Officer since April 2001. In December 2001, Mr. Orbach was named a Director, replacing Zohar Zisapel, who resigned from the Board of
                Directors. Prior to that, for a period of four and a half years, Mr. Orbach was President and CEO of Opgal Ltd., a high-tech subsidiary of Israel&#8217;s Rafael and El-Op corporations. Previously, he was General Manager of Edusoft, an Israeli
                company the shares of which were traded on the NASDAQ National Market (now, the NASDAQ Global Market), and Managing Director of Tecsys Ltd. He holds a B.Sc degree in Mechanical Engineering from the Technion.</div>
            </td>
          </tr>

      </table>
      <div style="line-height: 1.25">&#160;</div>
      <div style="text-align: justify; text-indent: 36pt; line-height: 1.25;">In accordance with our Compensation Policy which was re-approved by the Company&#8217;s shareholders on June 5, 2019 (the "<font style="font-weight: bold;">Compensation Policy</font>"),


        Mr. Yeshayahu ('Shaike') Orbach will continue to be a party to an indemnification agreement with the Company in the form of indemnification letter previously approved by the shareholders on April 11, 2012 to be entered into by the Company with
        directors serving from time to time in such capacity, and shall continue to be insured under the Company&#8217;s directors and officers insurance coverage which provides coverage for all directors of the Company. Under our Compensation Policy, any change
        to the indemnification agreement or the insurance policy, including the cost and/or any changes which materially depart from the key terms of the current agreement and/or insurance policy (provided that such changes apply equally to all executives
        of the Company, including directors) will be submitted to the Company's Compensation Committee and the Board of Directors for their approval but shall not, unless required by law or the Company's Articles of Association, be presented at a General
        Meeting of the shareholders.</div>
      <div style="line-height: 1.25">&#160;</div>
      <div style="text-align: justify; text-indent: 35.45pt; line-height: 1.25;">The shareholders of the Company will be requested to adopt the following resolution at the Meeting:</div>
      <div style="line-height: 1.25">&#160;</div>
      <div style="text-align: justify; text-indent: 36pt; line-height: 1.25;">"<font style="font-weight: bold;">RESOLVED, to re-elect Mr. Yeshayahu ('Shaike') Orbach as a director of the Company, subject to his continued employment as President and Chief
          Executive Officer of the Company for a three-year term commencing on the date of the Meeting and until his successor has been duly elected.</font>"</div>
      <div style="line-height: 1.25">&#160;</div>
      <div style="text-align: justify; text-indent: 35.45pt; line-height: 1.25;">The re-election of Mr. Yeshayahu ('Shaike') Orbach as director requires the affirmative vote of an Ordinary Majority.</div>
      <div style="line-height: 1.25">&#160;</div>
      <div id="DSPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
        <div id="DSPFPageNumberArea" style="text-align: center;"><font id="DSPFPageNumber" style="font-weight: normal; font-style: normal;">- 5 -</font></div>
        <div id="DSPFPageBreak" style="page-break-after: always;">
          <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">&#160;</div>
      <div style="text-align: justify; text-indent: 36pt; line-height: 1.25;">Pursuant to the Companies Law, approval of this Proposal 1 requires the affirmative vote of a simple majority of shares present at the meeting, in person or by proxy, and voting
        thereon, as long as one of the following conditions is met:</div>
      <div style="line-height: 1.25">&#160;</div>
      <div style="text-align: justify; line-height: 1.25;">
        <div>
          <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="zb65fd175bdad40b9903dafca279b963f">

              <tr>
                <td style="width: 35.45pt;"><br>
                </td>
                <td style="width: 21.25pt; vertical-align: top; align: right;">&#8226;</td>
                <td style="width: auto; vertical-align: top; text-align: justify;">
                  <div>the majority of shares voted for the election of the external director includes at least a majority of the shares held by non-controlling and non-interested shareholders voted at the meeting (excluding abstaining votes); or</div>
                </td>
              </tr>

          </table>
        </div>
      </div>
      <div style="line-height: 1.25">&#160;</div>
      <div style="text-align: justify; line-height: 1.25;">
        <div>
          <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="zcaf6f4ee2397447da247f533ecb380b2">

              <tr>
                <td style="width: 35.45pt;"><br>
                </td>
                <td style="width: 21.25pt; vertical-align: top; align: right;">&#8226;</td>
                <td style="width: auto; vertical-align: top; text-align: justify;">
                  <div>the total number of shares of non-controlling and non-interested shareholders voted against the election of the external director does not exceed two percent (2%) of the aggregate voting rights in the company.</div>
                </td>
              </tr>

          </table>
        </div>
      </div>
      <div style="line-height: 1.25">&#160;</div>
      <div style="text-align: justify; text-indent: 35.45pt; line-height: 1.25;">Each shareholder voting at the meeting or prior thereto by means of the accompanying proxy card is requested to notify us if he, she or it has a Personal Interest in
        connection with this Proposal 1 as a condition for his or her vote to be counted with respect to this Proposal 1. If any shareholder casting a vote in connection hereto does not notify us if he, she or it has a Personal Interest with respect to
        this Proposal 1, his, her or its vote with respect to this Proposal 1 will not be counted for the special disinterested majority required.</div>
      <div style="line-height: 1.25">&#160;</div>
      <div style="text-align: justify; text-indent: 35.45pt; line-height: 1.25;">&#160;For this purpose, "Personal Interest" is defined as: (1) a shareholder's personal interest in the approval of an act or a transaction of the Company, including (i) the
        personal interest of his or her relative (which includes for these purposes any members of his/her (or his/her spouse's) immediate family or the spouses of any such members of his or her (or his/her spouse's) immediate family); and (ii) a personal
        interest of a body corporate in which a shareholder or any of his/her aforementioned relatives serves as a director or the chief executive officer, owns at least five percent (5%) of its issued share capital or its voting rights or has the right to
        appoint a director or chief executive officer, but (2) excluding (i) a personal interest arising solely from the fact of holding shares in the Company or in a body corporate; or (ii) a personal interest that is not a result of connections with a
        controlling shareholder of the Company.</div>
      <div style="line-height: 1.25">&#160;</div>
      <div style="text-align: justify; text-indent: 35.45pt; margin-right: 2.75pt; line-height: 1.25; font-weight: bold;">The Board of Directors, with the exception of Mr. Yeshayahu ('Shaike') Orbach who expresses no recommendation as to the vote on the
        above proposal recommends a vote FOR approval of the re-election of Mr. Yeshayahu ('Shaike') Orbach as a director of the Company as set forth above.</div>
      <div style="line-height: 1.25">&#160;</div>
      <div style="text-align: center; line-height: 1.25; font-weight: bold;">PROPOSAL 2</div>
      <div style="line-height: 1.25">&#160;</div>
      <div style="text-align: center; line-height: 1.25; font-weight: bold;">TO APPROVE THE GRANT OF 13,333 OPTIONS TO PURCHASE ORDINARY SHARES </div>
      <div style="text-align: center; line-height: 1.25; font-weight: bold;">OF THE COMPANY TO MR. AVI EIZENMAN, THE COMPANY'S ACTIVE CHAIRMAN </div>
      <div style="text-align: center; line-height: 1.25; font-weight: bold;">OF THE BOARD OF DIRECTORS</div>
      <div style="line-height: 1.25">&#160;</div>
      <div style="text-align: justify; text-indent: 36pt; line-height: 1.25;">The Company's Compensation Policy provides that "all Executives (other than non-employee directors) are incentivized through cash bonuses and long-term equity-based incentives to
        provide the Executive with a stake in Silicom's success &#8211; thus linking the Executive's long-term financial interests with the interests of Silicom's shareholders.&#160;The maximum value of the variable compensation components shall not exceed eighty
        percent (80%) of each Executive's total compensation package on an annual basis. Such cap in the Compensation Policy is referred to herein as the "<font style="font-weight: bold;">Compensation Policy Cap</font>."</div>
      <div style="line-height: 1.25">&#160;</div>
      <div style="text-align: justify; text-indent: 36pt; line-height: 1.25;">The Compensation Committee and Board of Directors have each recommended and approved on January 29, 2020, a grant of 13,333 options to purchase Ordinary Shares of the Company
        pursuant to the Company's Global Share Incentive Plan (2013) (the "<font style="font-weight: bold;">Plan</font>") to Mr. Avi Eizenman, the Active Chairman of the Company's Board of Directors. The Compensation Committee and Board of Directors have
        each also determined that the proposed grant of options to Mr. Avi Eizenman is in compliance with the Compensation Policy and the Compensation Policy Cap. The proposed grant has an exercise price equal to the average closing price of the Company's
        Ordinary Shares on the thirty (30) trading days preceding the date of the approval of such grant by the Company's shareholders, which date of approval shall be the grant date (hereinafter in this Proposal: the "<font style="font-weight: bold;">Exercise


          Price</font>" and "<font style="font-weight: bold;">Grant Date</font>," respectively), where one hundred percent (100%) will vest on the second anniversary of the Grant Date, and which options (vested and unvested) shall expire, by their terms,
        upon the earlier to occur of: (a) the eighth anniversary of the Grant Date; and (b) the first date following the Grant Date on which the closing price per share of the Company's Ordinary Shares falls below fifty percent (50%) of the Exercise Price.</div>
      <div style="line-height: 1.25">&#160;</div>
      <div id="DSPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
        <div id="DSPFPageNumberArea" style="text-align: center;"><font id="DSPFPageNumber" style="font-weight: normal; font-style: normal;">- 6 -</font></div>
        <div id="DSPFPageBreak" style="page-break-after: always;">
          <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">&#160;</div>
      <div style="text-align: justify; text-indent: 36pt; line-height: 1.25;">The Compensation Committee and Board of Directors have each concluded that the terms of the proposed grant of options are pursuant to the Plan and in compliance with the
        Compensation Policy and the Compensation Policy Cap.</div>
      <div style="line-height: 1.25">&#160;</div>
      <div style="text-align: justify; text-indent: 36pt; line-height: 1.25;">The shareholders of the Company will be requested to adopt the following resolution at the Meeting:</div>
      <div style="line-height: 1.25">&#160;</div>
      <div style="text-align: justify; text-indent: 35.45pt; margin-right: 2.75pt; line-height: 1.25;">&#160;"<font style="font-weight: bold;">RESOLVED to approve granting 13,333 options to purchase Ordinary Shares of the Company to Mr. Avi Eizenman, the Active
          Chairman of the Company's Board of Directors, with the effective grant date and vesting terms as set forth above</font>."</div>
      <div style="line-height: 1.25">&#160;</div>
      <div style="text-align: justify; text-indent: 35.45pt; line-height: 1.25;">The approval of the grant of 13,333 options to purchase Ordinary Shares of the Company to Mr. Avi Eizenman, the Active Chairman of the Company's Board of Directors, requires
        the affirmative vote of an Ordinary Majority.</div>
      <div style="line-height: 1.25">&#160;</div>
      <div style="text-align: justify; text-indent: 35.45pt; line-height: 1.25; font-weight: bold;">The Board of Directors,<font style="background-color: #FFFFFF;">&#160;</font>with the exception of Mr. Eizenman who expresses no recommendation as to the vote on
        the above proposal, recommends that the shareholders vote FOR approval of the proposed resolution.</div>
      <div style="line-height: 1.25">&#160;</div>
      <div style="text-align: center; line-height: 1.25; font-weight: bold;">PROPOSAL 3</div>
      <div style="line-height: 1.25">&#160;</div>
      <div style="text-align: center; line-height: 1.25; font-weight: bold;">TO APPROVE THE GRANT OF 13,333 OPTIONS TO PURCHASE ORDINARY SHARES </div>
      <div style="text-align: center; line-height: 1.25; font-weight: bold;">OF THE COMPANY TO MR. YESHAYAHU ('SHAIKE') ORBACH, A MEMBER OF THE </div>
      <div style="text-align: center; line-height: 1.25; font-weight: bold;">BOARD OF DIRECTORS, PRESIDENT AND CHIEF EXECUTIVE OFFICER OF THE COMPANY</div>
      <div style="line-height: 1.25">&#160;</div>
      <div style="text-align: justify; text-indent: 36pt; line-height: 1.25;">The Compensation Committee and Board of Directors have each recommended and approved on January 29, 2020, a grant of 13,333 options to purchase Ordinary Shares of the Company
        pursuant to the Plan to Mr. Yeshayahu ('Shaike') Orbach, a member of the Board of Directors, and President and Chief Executive Officer of the Company. The Compensation Committee and Board of Directors have each also determined that the proposed
        grant of options to Mr. Yeshayahu ('Shaike') Orbach is in compliance with the Compensation Policy and the Compensation Policy Cap. The proposed grant has an exercise price equal to the average closing price of the Company's Ordinary Shares on the
        thirty (30) trading days preceding the date of the approval of such grant by the Company's shareholders, which date of approval shall be the grant date (hereinafter in this Proposal: the "<font style="font-weight: bold;">Exercise Price</font>" and
        "<font style="font-weight: bold;">Grant Date</font>," respectively), where one hundred percent (100%) will vest on the second anniversary of the Grant Date, and which options (vested and unvested) shall expire, by their terms, upon the earlier to
        occur of: (a) the eighth anniversary of the Grant Date; and (b) the first date following the Grant Date on which the closing price per share of the Company's Ordinary Shares falls below fifty percent (50%) of the Exercise Price.</div>
      <div style="line-height: 1.25">&#160;</div>
      <div style="text-align: justify; text-indent: 36pt; line-height: 1.25;">The Compensation Committee and Board of Directors have each concluded that the terms of the proposed grant of options are pursuant to the Plan and in compliance with the
        Compensation Policy and the Compensation Policy Cap.</div>
      <div style="line-height: 1.25">&#160;</div>
      <div style="text-align: justify; text-indent: 36pt; line-height: 1.25;">The shareholders of the Company will be requested to adopt the following resolution at the Meeting:</div>
      <div style="line-height: 1.25">&#160;</div>
      <div style="text-align: justify; text-indent: 35.45pt; margin-right: 2.75pt; line-height: 1.25;">"<font style="font-weight: bold;">RESOLVED to approve granting 13,333 options to purchase Ordinary Shares of the Company to Mr. Yeshayahu ('Shaike')
          Orbach, a member of the Board of Directors, and President and Chief Executive Officer of the Company, with the effective grant date and vesting terms as set forth above</font>."</div>
      <div style="line-height: 1.25">&#160;</div>
      <div style="text-align: justify; text-indent: 35.45pt; line-height: 1.25;">The approval of the grant of 13,333 options to purchase Ordinary Shares of the Company to Mr. Yeshayahu ('Shaike') Orbach, the Active a member of the Board of Directors, and
        President and Chief Executive Officer of the Company, requires the affirmative vote of an Ordinary Majority.</div>
      <div style="line-height: 1.25">&#160;</div>
      <div id="DSPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
        <div id="DSPFPageNumberArea" style="text-align: center;"><font id="DSPFPageNumber" style="font-weight: normal; font-style: normal;">- 7 -</font></div>
        <div id="DSPFPageBreak" style="page-break-after: always;">
          <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="background-color: #FFFFFF; line-height: 1.25;">
        <div style="line-height: 1.25;"><br style="line-height: 1.25;">
        </div>
        <div style="text-align: justify; text-indent: 36pt; line-height: 1.25;">Pursuant to the Companies Law, approval of Proposal 3 requires the affirmative vote of a simple majority of shares present at the meeting, in person or by proxy, and voting
          thereon, as long as one of the following conditions is met:</div>
        <div style="line-height: 1.25">&#160;</div>
      </div>
      <div style="text-align: justify; line-height: 1.25;">
        <div>
          <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="z0eadec1a2f1e4540b37d8ee754823760">

              <tr>
                <td style="width: 35.45pt;"><br>
                </td>
                <td style="width: 21.25pt; vertical-align: top; align: right;">&#8226;</td>
                <td style="width: auto; vertical-align: top; text-align: justify;">
                  <div>the majority of shares voted for the proposal includes at least a majority of the shares held by non-controlling and non-interested shareholders voted at the meeting (excluding abstaining votes); or</div>
                </td>
              </tr>

          </table>
        </div>
      </div>
      <div style="line-height: 1.25">&#160;</div>
      <div style="text-align: justify; line-height: 1.25;">
        <div>
          <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="z7fa23b758a8d4e0da93f7d192087c80b">

              <tr>
                <td style="width: 35.45pt;"><br>
                </td>
                <td style="width: 21.25pt; vertical-align: top; align: right;">&#8226;</td>
                <td style="width: auto; vertical-align: top; text-align: justify;">
                  <div>the total number of shares of non-controlling and non-interested shareholders voted against the proposal does not exceed two percent of the aggregate voting rights in the company.</div>
                </td>
              </tr>

          </table>
        </div>
      </div>
      <div style="line-height: 1.25">&#160;</div>
      <div style="background-color: #FFFFFF; line-height: 1.25;">
        <div style="text-align: justify; text-indent: 36pt; line-height: 1.25;">Each shareholder voting at the meeting or prior thereto by means of the accompanying proxy card is requested to notify us if he, she or it has a Personal Interest in connection
          with this Proposal 3 as a condition for his or her vote to be counted with respect to this Proposal 3. If any shareholder casting a vote in connection hereto does not notify us if he, she or it has a Personal Interest with respect to this
          Proposal 3, he, she or it will be deemed as having a Personal Interest with respect to this Proposal 3 and his, her or its vote will not be counted for the special disinterested majority required.</div>
        <div style="line-height: 1.25">&#160;</div>
      </div>
      <div style="text-align: justify; text-indent: 36pt; line-height: 1.25;">See Proposal 1 above for an overview of the definition of "Personal Interest" pursuant to the Companies Law.</div>
      <div style="line-height: 1.25">&#160;</div>
      <div style="text-align: justify; text-indent: 36pt; line-height: 1.25; font-weight: bold;">The Board of Directors, with the exception of Mr. Orbach who expresses no recommendation as to the vote on the above proposal, recommends that the shareholders
        vote FOR approval of the proposed resolution.</div>
      <div style="line-height: 1.25">&#160;</div>
      <div style="text-align: center; line-height: 1.25; font-weight: bold;">PROPOSAL 4</div>
      <div style="line-height: 1.25">&#160;</div>
      <div style="text-align: center; line-height: 1.25; font-weight: bold;">TO CONSIDER AND ACT UPON A PROPOSAL TO APPROVE THE GRANT OF 25,000 </div>
      <div style="text-align: center; line-height: 1.25; font-weight: bold;">RESTRICTED STOCK UNITS PURSUANT TO THE PLAN AND IN COMPLIANCE WITH </div>
      <div style="text-align: center; line-height: 1.25; font-weight: bold;">THE COMPENSATION POLICY AND THE COMPENSATION POLICY CAP TO MR. </div>
      <div style="text-align: center; line-height: 1.25; font-weight: bold;">YESHAYAHU ('SHAIKE') ORBACH, THE COMPANY'S PRESIDENT AND CHIEF </div>
      <div style="text-align: center; line-height: 1.25; font-weight: bold;">EXECUTIVE OFFICER.</div>
      <div style="line-height: 1.25">&#160;</div>
      <div style="text-align: justify; text-indent: 36pt; line-height: 1.25;">The Compensation Committee and Board of Directors have each recommended and approved on January 29, 2020, a grant of 25,000 Restricted Stock Units pursuant to the Plan to Mr.
        Yeshayahu ('Shaike') Orbach, a member of the Board of Directors, and President and Chief Executive Officer of the Company. The Compensation Committee and Board of Directors have each also determined that the proposed grant of Restricted Stock Units
        to Mr. Yeshayahu ('Shaike') Orbach is in compliance with the Compensation Policy and the Compensation Policy Cap. The proposed grant has a vesting period of 2 years following the date of this approval by the Company's shareholders, which date of
        approval shall be the grant date (hereinafter in this Proposal: the "<font style="font-weight: bold;">Grant Date</font>") for the first 12,500 RSUs and 3 years following the Grant Date for the remaining 12,500 RSUs.</div>
      <div style="line-height: 1.25">&#160;</div>
      <div style="text-align: justify; text-indent: 36pt; line-height: 1.25;">The Compensation Committee and Board of Directors have each concluded that the terms of the proposed grant of Restricted Stock Units are pursuant to the Plan and in compliance
        with the Compensation Policy and the Compensation Policy Cap.</div>
      <div style="line-height: 1.25">&#160;</div>
      <div style="text-align: justify; text-indent: 36pt; line-height: 1.25;">The shareholders of the Company will be requested to adopt the following resolution at the Meeting:</div>
      <div style="line-height: 1.25">&#160;</div>
      <div style="text-align: justify; text-indent: 35.45pt; margin-right: 2.75pt; line-height: 1.25;">"<font style="font-weight: bold;">RESOLVED to approve granting 25,000 Restricted Stock Units of the Company to Mr. Yeshayahu ('Shaike') Orbach, a member
          of the Board of Directors, and President and Chief Executive Officer of the Company, with the effective grant date and vesting terms as set forth above</font>."</div>
      <div style="line-height: 1.25">&#160;</div>
      <div style="text-align: justify; text-indent: 35.45pt; line-height: 1.25;">The approval of the grant of 25,000 Restricted Stock Units of the Company to Mr. Yeshayahu ('Shaike') Orbach, the Active a member of the Board of Directors, and President and
        Chief Executive Officer of the Company, requires the affirmative vote of an Ordinary Majority.</div>
      <div style="line-height: 1.25">&#160;</div>
      <div id="DSPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
        <div id="DSPFPageNumberArea" style="text-align: center;"><font id="DSPFPageNumber" style="font-weight: normal; font-style: normal;">- 8 -</font></div>
        <div id="DSPFPageBreak" style="page-break-after: always;">
          <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="background-color: #FFFFFF; line-height: 1.25;">
        <div style="line-height: 1.25;"><br style="line-height: 1.25;">
        </div>
        <div style="text-align: justify; text-indent: 36pt; line-height: 1.25;">Pursuant to the Companies Law, approval of Proposal 4 requires the affirmative vote of a simple majority of shares present at the meeting, in person or by proxy, and voting
          thereon, as long as one of the following conditions is met:</div>
        <div style="line-height: 1.25">&#160;</div>
      </div>
      <div style="text-align: justify; line-height: 1.25;">
        <div>
          <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="z4b7cfccf61f5435d847e6d6f48a04f21">

              <tr>
                <td style="width: 35.45pt;"><br>
                </td>
                <td style="width: 21.25pt; vertical-align: top; align: right;">&#8226;</td>
                <td style="width: auto; vertical-align: top; text-align: justify;">
                  <div>the majority of shares voted for the proposal includes at least a majority of the shares held by non-controlling and non-interested shareholders voted at the meeting (excluding abstaining votes); or</div>
                </td>
              </tr>

          </table>
        </div>
      </div>
      <div style="line-height: 1.25">&#160;</div>
      <div style="text-align: justify; line-height: 1.25;">
        <div>
          <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="z7e9f814b6b7744af93dc6a82ba3c70f6">

              <tr>
                <td style="width: 35.45pt;"><br>
                </td>
                <td style="width: 21.25pt; vertical-align: top; align: right;">&#8226;</td>
                <td style="width: auto; vertical-align: top; text-align: justify;">
                  <div>the total number of shares of non-controlling and non-interested shareholders voted against the proposal does not exceed two percent of the aggregate voting rights in the company.</div>
                </td>
              </tr>

          </table>
        </div>
      </div>
      <div style="line-height: 1.25">&#160;</div>
      <div style="background-color: #FFFFFF; line-height: 1.25;">
        <div style="text-align: justify; text-indent: 36pt; line-height: 1.25;">Each shareholder voting at the meeting or prior thereto by means of the accompanying proxy card is requested to notify us if he, she or it has a Personal Interest in connection
          with this Proposal 4 as a condition for his or her vote to be counted with respect to this Proposal 4. If any shareholder casting a vote in connection hereto does not notify us if he, she or it has a Personal Interest with respect to this
          Proposal 4, he, she or it will be deemed as having a Personal Interest with respect to this Proposal 4 and his, her or its vote will not be counted for the special disinterested majority required.</div>
        <div style="line-height: 1.25">&#160;</div>
      </div>
      <div style="text-align: justify; text-indent: 36pt; line-height: 1.25;">See Proposal 1 above for an overview of the definition of "Personal Interest" pursuant to the Companies Law.</div>
      <div style="line-height: 1.25">&#160;</div>
      <div style="text-align: justify; text-indent: 36pt; line-height: 1.25; font-weight: bold;">The Board of Directors, with the exception of Mr. Orbach who expresses no recommendation as to the vote on the above proposal, recommends that the shareholders
        vote FOR approval of the proposed resolution.</div>
      <div style="line-height: 1.25">&#160;</div>
      <div style="text-align: center; line-height: 1.25; font-weight: bold;">PROPOSAL 5</div>
      <div style="line-height: 1.25">&#160;</div>
      <div style="text-align: center; line-height: 1.25; font-weight: bold;">TO CONSIDER AND ACT UPON A PROPOSAL TO APPROVE THE GRANT OF 25,000 </div>
      <div style="text-align: center; line-height: 1.25; font-weight: bold;">RESTRICTED STOCK UNITS PURSUANT TO THE PLAN AND IN COMPLIANCE WITH </div>
      <div style="text-align: center; line-height: 1.25; font-weight: bold;">THE COMPENSATION POLICY AND THE COMPENSATION POLICY CAP TO MR. AVI </div>
      <div style="text-align: center; line-height: 1.25; font-weight: bold;">EIZENMAN, THE COMPANY'S ACTIVE CHAIRMAN OF THE BOARD.</div>
      <div style="line-height: 1.25">&#160;</div>
      <div style="text-align: justify; text-indent: 36pt; line-height: 1.25;">The Compensation Committee and Board of Directors have each recommended and approved on January 29, 2020, a grant of 25,000 Restricted Stock Units pursuant to the Plan to Mr. Avi
        Eizenman, a member of the Board of Directors, and Active Chairman of the Board of Directors. The Compensation Committee and Board of Directors have each also determined that the proposed grant of Restricted Stock Units to Mr. Avi Eizenman is in
        compliance with the Compensation Policy and the Compensation Policy Cap. The proposed grant has a vesting period of 2 years following the date of this approval by the Company's shareholders, which date of approval shall be the grant date
        (hereinafter in this Proposal: the "<font style="font-weight: bold;">Grant Date</font>") for the first 12,500 RSUs and 3 years following the Grant Date for the remaining 12,500 RSUs.</div>
      <div style="line-height: 1.25">&#160;</div>
      <div style="text-align: justify; text-indent: 36pt; line-height: 1.25;">The Compensation Committee and Board of Directors have each concluded that the terms of the proposed grant of Restricted Stock Units are pursuant to the Plan and in compliance
        with the Compensation Policy and the Compensation Policy Cap.</div>
      <div style="line-height: 1.25">&#160;</div>
      <div style="text-align: justify; text-indent: 36pt; line-height: 1.25;">The shareholders of the Company will be requested to adopt the following resolution at the Meeting:</div>
      <div style="line-height: 1.25">&#160;</div>
      <div style="text-align: justify; text-indent: 35.45pt; margin-right: 2.75pt; line-height: 1.25;">"<font style="font-weight: bold;">RESOLVED to approve granting 25,000 Restricted Stock Units of the Company to Mr. Avi Eizenman, the Active Chairman of
          the Board of Directors, with the effective grant date and vesting terms as set forth above</font>."</div>
      <div style="line-height: 1.25">&#160;</div>
      <div style="text-align: justify; text-indent: 35.45pt; line-height: 1.25;">The approval of the grant of 25,000 Restricted Stock Units of the Company to Mr. Avi Eizenman, the Active Chairman of the Company's Board of Directors, requires the
        affirmative vote of an Ordinary Majority.</div>
      <div style="line-height: 1.25">&#160;</div>
      <div style="text-align: justify; text-indent: 35.45pt; line-height: 1.25; font-weight: bold;">The Board of Directors,<font style="background-color: #FFFFFF;">&#160;</font>with the exception of Mr. Eizenman who expresses no recommendation as to the vote on
        the above proposal, recommends that the shareholders vote FOR approval of the proposed resolution.</div>
      <div style="line-height: 1.25">&#160;</div>
      <div id="DSPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
        <div id="DSPFPageNumberArea" style="text-align: center;"><font id="DSPFPageNumber" style="font-weight: normal; font-style: normal;">- 9 -</font></div>
        <div id="DSPFPageBreak" style="page-break-after: always;">
          <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">&#160;</div>
      <div style="text-align: center; line-height: 1.25;"><font style="font-weight: bold;">PROPOSAL 6</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;</div>
      <div style="line-height: 1.25">&#160;</div>
      <div style="text-align: center; line-height: 1.25; font-weight: bold;">APPOINTMENT OF SOMEKH CHAIKIN, CERTIFIED PUBLIC ACCOUNTANTS </div>
      <div style="text-align: center; line-height: 1.25; font-weight: bold;">(ISRAEL), A MEMBER OF KPMG INTERNATIONAL, AS INDEPENDENT PUBLIC </div>
      <div style="text-align: center; line-height: 1.25; font-weight: bold;">ACCOUNTANTS OF THE COMPANY AND AUTHORIZATION OF AUDIT COMMITTEE </div>
      <div style="text-align: center; line-height: 1.25; font-weight: bold;">TO FIX THE COMPENSATION OF SUCH AUDITORS</div>
      <div style="line-height: 1.25">&#160;</div>
      <div style="text-align: justify; text-indent: 36pt; line-height: 1.25;">Under the Israeli Companies Law, the appointment of independent public accountants requires the approval of the shareholders of the Company.</div>
      <div style="line-height: 1.25">&#160;</div>
      <div style="text-align: justify; text-indent: 36pt; line-height: 1.25;">Following the recommendation and approval of the Audit Committee, the Board of Directors has authorized and approved the appointment of the accounting firm of Somekh Chaikin,
        Certified Public Accountants (Isr.), a member of KPMG International ("<font style="font-weight: bold;">Somekh Chaikin</font>"), as the independent certified public accountants of the Company for the year ending December 31, 2020, and until the next
        annual general meeting of the shareholders of the Company.</div>
      <div style="line-height: 1.25">&#160;</div>
      <div style="text-align: justify; text-indent: 36pt; line-height: 1.25;">The Audit Committee and Board of Directors believe that the selection of Somekh Chaikin to continue as the independent accountants of the Company is appropriate and in the best
        interest of the Company and its shareholders. Subject to the approval of this Proposal 6, the Audit Committee will be authorized to set the compensation of such auditors in accordance with the volume and nature of their services.</div>
      <div style="line-height: 1.25">&#160;</div>
      <div style="text-align: justify; text-indent: 36pt; line-height: 1.25;">The shareholders of the Company are requested to adopt the following resolution:</div>
      <div style="line-height: 1.25">&#160;</div>
      <div style="text-align: justify; text-indent: 36pt; line-height: 1.25;">"<font style="font-weight: bold;">RESOLVED, to appoint Somekh Chaikin as the independent public accountants of the Company for the year ending December 31, 2020, and until the
          next annual general meeting of the Company's shareholders, and to authorize the Audit Committee to set their compensation</font>&#160;<font style="font-weight: bold;">in accordance with the volume and nature of their services.</font>"</div>
      <div style="line-height: 1.25">&#160;</div>
      <div style="text-align: justify; text-indent: 36pt; line-height: 1.25;">The appointment of Somekh Chaikin as the independent public accountants of the Company for the year ending December 31, 2020, and until the next annual general meeting of the
        Company's shareholders and authorization of the Audit Committee to set their compensation in accordance with the volume and nature of their services, requires the affirmative vote of an Ordinary Majority.</div>
      <div style="line-height: 1.25">&#160;</div>
      <div style="text-align: justify; text-indent: 36pt; line-height: 1.25; font-weight: bold;">The Board of Directors recommends that the shareholders vote FOR approval of the proposed resolution.</div>
      <div style="line-height: 1.25">&#160;</div>
      <div style="text-align: center; line-height: 1.25; font-weight: bold;">PROPOSAL 7</div>
      <div style="line-height: 1.25">&#160;</div>
      <div style="text-align: center; line-height: 1.25; font-weight: bold;">REVIEWING THE COMPANY'S FINANCIAL STATEMENTS FOR THE YEAR ENDED </div>
      <div style="text-align: center; line-height: 1.25; font-weight: bold;">DECEMBER 31, 2019, AND TRANSACTING SUCH OTHER BUSINESS AS MAY </div>
      <div style="text-align: center; line-height: 1.25; font-weight: bold;">PROPERLY COME BEFORE THE MEETING</div>
      <div style="line-height: 1.25">&#160;</div>
      <div style="text-align: justify; text-indent: 36pt; line-height: 1.25;">At the Meeting, shareholders will have an opportunity to review, ask questions and comment on the Company's Consolidated Balance Sheet as of December 31, 2019 and the
        Consolidated Statement of Income for the year then ended. The Company published its audited financial statements for the fiscal year ended December 31, 2019 on Form 6-K, which was filed with the Securities and Exchange Commission (the "<font style="font-weight: bold;">SEC</font>") on March 16, 2020 and is available at their website, <u>www.sec.gov</u>, and also published such financial statements together with the Company's Annual Report on Form 20-F, which was filed with the SEC on
        April 27, 2020 and is available at their website, and you may request that a copy be mailed to you. The Company will hold a discussion with respect to the Annual Report and financial statements at the Meeting. This agenda item will not involve a
        vote by the shareholders.</div>
      <div style="line-height: 1.25">&#160;</div>
      <div id="DSPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
        <div id="DSPFPageNumberArea" style="text-align: center;"><font id="DSPFPageNumber" style="font-weight: normal; font-style: normal;">- 10 -</font></div>
        <div id="DSPFPageBreak" style="page-break-after: always;">
          <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">&#160;</div>
      <div style="text-align: justify; text-indent: 36pt; line-height: 1.25;">Management is not aware of any other matters to be presented at the Meeting. If, however, any other matters should properly come before the Meeting or any adjournment or
        postponement thereof, the proxy confers discretionary authority with respect to acting thereon, and the persons named in the enclosed proxy will vote on such matters in accordance with their best judgment.</div>
      <div style="line-height: 1.25">&#160;</div>
      <div style="text-align: center; line-height: 1.25;">_________________________________</div>
      <div style="line-height: 1.25">&#160;</div>
      <div style="text-align: justify; text-indent: 36pt; line-height: 1.25;"><font style="font-weight: bold;">Your vote is important!</font> Shareholders are urged to complete and return their proxies promptly in order to, among other things, ensure
        action by a quorum and to avoid the expense of additional solicitation. If the accompanying proxy is properly executed and returned in time for voting, and a choice is specified, the shares represented thereby will be voted as indicated thereon.
        EXCEPT AS MENTIONED OTHERWISE IN THIS PROXY STATEMENT, IF NO SPECIFICATION IS MADE, THE PROXY WILL BE VOTED IN FAVOR OF EACH OF THE PROPOSALS DESCRIBED IN THIS PROXY STATEMENT. <font style="font-weight: bold;">Proxies and all other applicable
          materials should be sent to the offices of the Company at 14 Atir Yeda Street, Kfar Sava 4464323, Israel (telephone number: 972-9-764-4555, facsimile number: 972-9-765-1977)</font>.</div>
      <div style="line-height: 1.25">&#160;</div>
      <div style="text-align: center; line-height: 1.25; font-weight: bold;">ADDITIONAL INFORMATION</div>
      <div style="line-height: 1.25">&#160;</div>
      <div style="text-align: justify; text-indent: 36pt; line-height: 1.25;">We are subject to the informational requirements of the Securities Exchange Act of 1934, as amended (the "<font style="font-weight: bold;">Exchange Act</font>"), as applicable to
        foreign private issuers. Accordingly, we file reports and other information with the SEC. Shareholders may read and copy any document we file at the SEC's public reference rooms at 450 Fifth Street, N.W., Washington, D.C. 20549. Shareholders can
        call the SEC at 1-800-SEC-0330 for further information on using the public reference room. In addition, similar information concerning us can be inspected and copied at the offices of the National Association of Securities Dealers, Inc., 9513 Key
        West Avenue, Rockville, Maryland 20850 USA. All documents which we will file on the SEC's EDGAR system will be available for retrieval on the SEC's website at <u>http://www.sec.gov</u>. This proxy statement is also available on our website at <u>http://www.silicom.co.il</u>
        and on the SEC's website at <u>http://www.sec.gov</u>.</div>
      <div style="line-height: 1.25">&#160;</div>
      <div style="text-align: justify; text-indent: 36pt; line-height: 1.25;">As a foreign private issuer, we are exempt from the rules under the Exchange Act prescribing certain disclosure and procedural requirements for proxy solicitations. In addition,
        we are not required under the Exchange Act to file periodic reports and financial statements with the SEC as frequently or as promptly as United States companies whose securities are registered under the Exchange Act. The Notice of the Annual
        General Meeting of Shareholders and the Proxy Statement have been prepared in accordance with applicable disclosure requirements in the State of Israel.</div>
      <div style="line-height: 1.25">&#160;</div>
      <div style="text-align: justify; text-indent: 36pt; line-height: 1.25;">YOU SHOULD RELY ONLY ON THE INFORMATION CONTAINED IN THIS PROXY STATEMENT OR THE INFORMATION FURNISHED TO YOU IN CONNECTION WITH THIS PROXY STATEMENT WHEN VOTING ON THE MATTERS
        SUBMITTED TO SHAREHOLDER APPROVAL HEREUNDER. WE HAVE NOT AUTHORIZED ANYONE TO PROVIDE YOU WITH INFORMATION THAT IS DIFFERENT FROM WHAT IS CONTAINED IN THIS DOCUMENT. THIS PROXY STATEMENT IS DATED APRIL 27, 2020. YOU SHOULD NOT ASSUME THAT THE&#160;
        INFORMATION&#160; CONTAINED&#160; IN&#160; THIS&#160; DOCUMENT&#160; IS&#160; ACCURATE&#160; AS&#160; OF&#160; ANY&#160; DATE&#160; OTHER&#160; THAN&#160; APRIL 27, 2020,&#160; AND&#160; THE&#160; MAILING&#160; OF&#160; THIS&#160; DOCUMENT&#160; TO SHAREHOLDERS SHOULD NOT CREATE ANY IMPLICATION TO THE CONTRARY.</div>
      <div style="line-height: 1.25">&#160;</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: rgb(0, 0, 0);" id="zf18c7efe97634ea592377371120ace48">

          <tr>
            <td style="width: 50%; vertical-align: top;">&#160;</td>
            <td style="width: 50%; vertical-align: top;">
              <div style="text-align: center; line-height: 1.25; font-family: 'Times New Roman', Times, serif;">By Order of the Board of Directors</div>
              <div style="text-align: center; line-height: 1.25; font-family: 'Times New Roman', Times, serif; font-weight: bold;"> <br>
              </div>
              <div style="text-align: center; line-height: 1.25; font-family: 'Times New Roman', Times, serif; font-weight: bold;">SILICOM LTD.</div>
              <div style="text-align: center; line-height: 1.25; font-family: 'Times New Roman', Times, serif; font-weight: bold;"> <br>
              </div>
              <div style="text-align: center; line-height: 1.25; font-family: 'Times New Roman', Times, serif;"><u>/s/ Yeshayahu ('Shaike') Orbach</u></div>
              <div style="text-align: center; line-height: 1.25; font-family: 'Times New Roman', Times, serif;">Yeshayahu ('Shaike') Orbach<br>
                DIRECTOR, PRESIDENT AND CHIEF EXECUTIVE OFFICER</div>
            </td>
          </tr>
          <tr>
            <td style="width: 50%; vertical-align: top;">
              <div style="line-height: 1.25; font-family: 'Times New Roman', Times, serif;">Kfar Sava, Israel<br>
                Date: April 27, 2020</div>
            </td>
            <td style="width: 50%; vertical-align: top;">&#160;</td>
          </tr>

      </table>
      <div style="line-height: 1.25;"><br style="line-height: 1.25;">
      </div>
      <div style="line-height: 1.25">&#160;</div>
    </div>
  </div>
  <div id="DSPFPageNumberArea" style="text-align: center;"><font id="DSPFPageNumber" style="font-weight: normal; font-style: normal;">- 11 -</font>
    <hr align="center" style="border: none; border-bottom: 4px solid black; border-top: 1px solid black; height: 10px; color: #ffffff; background-color: #ffffff; margin-left: auto; margin-right: auto;"></div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99
<SEQUENCE>4
<FILENAME>exhibit_3.htm
<DESCRIPTION>EXHIBIT 3
<TEXT>
<html>
  <head>
    <title></title>
    <!-- Licensed to: company
         Document created using EDGARfilings PROfile 6.5.1.0
         Copyright 1995 - 2020 Broadridge -->
  </head>
<body bgcolor="#ffffff" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; text-align: left; color: #000000;">
  <div>
    <hr align="center" style="border: none; border-bottom: 1px solid black; border-top: 4px solid black; height: 10px; color: #ffffff; background-color: #ffffff; text-align: center; margin-left: auto; margin-right: auto;">
    <div style="text-align: right;"><u><font style="font-weight: bold;">Exhibit 3</font></u><br>
      <div><br>
      </div>
      <div>
        <div style="text-align: center; text-indent: -1.3pt; margin-left: 1.3pt; line-height: 1.25; font-weight: bold;">SILICOM LTD.</div>
        <div style="line-height: 1.25">&#160;</div>
        <div style="text-align: center; text-indent: -1.3pt; margin-left: 1.3pt; line-height: 1.25; font-weight: bold;">Annual General Meeting of Shareholders to be held on June 8 2020</div>
        <div style="line-height: 1.25">&#160;</div>
        <div style="text-align: center; text-indent: -1.3pt; margin-left: 1.3pt; line-height: 1.25;">THIS PROXY IS SOLICITED ON BEHALF OF MANAGEMENT</div>
        <div style="line-height: 1.25">&#160;</div>
        <div style="text-align: justify; text-indent: 34.7pt; margin-left: 1.3pt; line-height: 1.25;">The undersigned shareholder of Silicom Ltd. (the "<font style="font-weight: bold;">Company</font>") hereby appoints Mr. Eran Gilad, the true and lawful
          attorney, agent and proxy of the undersigned, to vote, as designated below, all of the Ordinary Shares of the Company which the undersigned is entitled in any capacity to vote at the Annual General Meeting of Shareholders of the Company, to be
          held at the corporate offices of the Company at 14 Atir Yeda Street, Kfar Sava 4464323, Israel on Monday June 8, 2020, at 14:00, (Israel time), and all adjournments and postponements thereof.</div>
        <div style="line-height: 1.25;"><br style="line-height: 1.25;">
        </div>
        <div style="text-align: center; text-indent: -1.3pt; margin-left: 1.3pt; line-height: 1.25;">(CONTINUED AND TO BE SIGNED ON REVERSE SIDE)</div>
        <div style="line-height: 1.25">&#160;</div>
        <div id="DSPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
          <div id="DSPFPageBreak" style="page-break-after: always;">
            <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;"><br style="line-height: 1.25;">
        </div>
      </div>
      <div style="text-align: left;">
        <table cellspacing="0" cellpadding="3" border="0" style="font-family: 'Times New Roman',Times,serif; font-size: 10pt; width: 100%; text-align: left; color: rgb(0, 0, 0);" id="z992561669aa94af6815240e71653822e">

            <tr>
              <td colspan="8" style="vertical-align: top; border-top: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0); border-right: 1px solid rgb(0, 0, 0);">
                <div style="line-height: 1.25; font-family: 'Times New Roman', Times, serif; font-weight: bold;">THIS PROXY WHEN PROPERLY EXECUTED WILL BE VOTED AS DIRECTED HEREIN.</div>
                <div style="text-align: justify; line-height: 1.25; font-family: 'Times New Roman', Times, serif; font-weight: bold;">EXCEPT AS MENTIONED OTHERWISE IN THE PROXY STATEMENT AND BELOW ON THIS PROXY, IF NO DIRECTION IS INDICATED, THIS PROXY
                  WILL BE VOTED "FOR" THE PROPOSALS HEREIN.</div>
              </td>
            </tr>
            <tr>
              <td style="width: 2%; vertical-align: bottom; border-top: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0);">&#160;</td>
              <td colspan="3" style="vertical-align: middle; border-top: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0);">
                <div style="text-align: center; line-height: 1.25; font-family: 'Times New Roman', Times, serif; font-weight: bold;">Please mark your vote as in this example&#160;&#160; &#9746;</div>
              </td>
              <td style="width: 25.16%; vertical-align: middle; border-top: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0);">&#160;</td>
              <td colspan="3" style="vertical-align: middle; border-top: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0); border-right: 1px solid rgb(0, 0, 0);">&#160;</td>
            </tr>
            <tr>
              <td style="width: 2%; vertical-align: top; border-top: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0);">&#160;</td>
              <td colspan="4" rowspan="2" style="vertical-align: top; border-top: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0);">
                <div style="text-align: justify; line-height: 1.25; font-family: 'Times New Roman', Times, serif; font-weight: bold;">PROPOSAL NO. 1: To consider and act upon a proposal to re-elect Mr. Yeshayahu ('Shaike') Orbach, to the Company's Board of
                  Directors, to hold office as director for a three-year term commencing on the date of the Meeting until the Annual General Meeting of Shareholders to be held in the year 2023, and until his successor has been duly elected.</div>
              </td>
              <td style="width: 10%; vertical-align: top; border-top: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0);">
                <div style="text-align: center; line-height: 1.25; font-family: 'Times New Roman', Times, serif; font-weight: bold;">FOR</div>
              </td>
              <td style="width: 10%; vertical-align: top; border-top: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0);">
                <div style="text-align: center; line-height: 1.25; font-family: 'Times New Roman', Times, serif; font-weight: bold;">AGAINST</div>
              </td>
              <td style="width: 10%; vertical-align: top; border-top: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0); border-right: 1px solid rgb(0, 0, 0);">
                <div style="text-align: center; line-height: 1.25; font-family: 'Times New Roman', Times, serif; font-weight: bold;">ABSTAIN</div>
              </td>
            </tr>
            <tr>
              <td style="width: 2%; vertical-align: top; border-top: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0);">&#160;</td>
              <td style="width: 10%; vertical-align: top; border-top: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0);">
                <div style="text-align: center; line-height: 1.25; font-family: 'Times New Roman', Times, serif;">&#9744;</div>
              </td>
              <td style="width: 10%; vertical-align: top; border-top: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0);">
                <div style="text-align: center; line-height: 1.25; font-family: 'Times New Roman', Times, serif;">&#9744;</div>
              </td>
              <td style="width: 10%; vertical-align: top; border-top: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0); border-right: 1px solid rgb(0, 0, 0); text-align: center;">&#9744;</td>
            </tr>
            <tr>
              <td style="width: 2%; vertical-align: top; border-top: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0);">&#160;</td>
              <td colspan="4" style="vertical-align: top; border-top: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0);">
                <div style="text-align: justify; line-height: 1.25; font-family: 'Times New Roman', Times, serif;">DO YOU HAVE A "PERSONAL INTEREST" <font style="font-weight: bold;">(AS DEFINED BELOW</font>) WITH RESPECT TO THE SUBJECT MATTER OF PROPOSAL
                  1? (<font style="font-weight: bold;">PLEASE NOTE: IF YOU DO NOT MARK EITHER YES OR NO YOU WILL BE DEEMED AS HAVING A PERSONAL INTEREST WITH RESPECT TO PROPOSAL 1 AND YOUR VOTE WILL NOT BE COUNTED FOR THE SPECIAL DISINTERESTED MAJORITY
                    REQUIRED FOR THE APPROVAL OF PROPOSAL 1).</font></div>
              </td>
              <td style="width: 10%; vertical-align: top; border-top: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0);">
                <div style="text-align: center; line-height: 1.25; font-family: 'Times New Roman', Times, serif; font-weight: bold;">YES</div>
                <div style="text-align: center; line-height: 1.25; font-family: 'Times New Roman', Times, serif;">&#9744;</div>
                <div style="line-height: 1.25;"><font style="line-height: 1.25;">&#160;</font></div>
              </td>
              <td style="width: 10%; vertical-align: top; border-top: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0);">
                <div style="text-align: center; line-height: 1.25; font-family: 'Times New Roman', Times, serif; font-weight: bold;">NO</div>
                <div style="text-align: center; line-height: 1.25; font-family: 'Times New Roman', Times, serif;">&#9744;</div>
                <div style="line-height: 1.25;"><font style="line-height: 1.25;">&#160;</font></div>
              </td>
              <td style="width: 10%; vertical-align: top; border-top: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0); border-right: 1px solid rgb(0, 0, 0);">&#160;</td>
            </tr>
            <tr>
              <td style="width: 2%; vertical-align: top; border-top: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0);">&#160;</td>
              <td colspan="4" rowspan="2" style="vertical-align: top; border-top: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0);">
                <div style="text-align: justify; line-height: 1.25; font-family: 'Times New Roman', Times, serif; font-weight: bold;">PROPOSAL NO. 2: To consider and act upon a proposal to approve the grant of 13,333 options to purchase Ordinary Shares of
                  the Company pursuant to the Plan and in compliance with the Compensation Policy and the Compensation Policy Cap to Mr. Avi Eizenman, the Company's Active Chairman of the Board of Directors.</div>
              </td>
              <td style="width: 10%; vertical-align: top; border-top: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0);">
                <div style="text-align: center; line-height: 1.25; font-family: 'Times New Roman', Times, serif; font-weight: bold;">FOR</div>
              </td>
              <td style="width: 10%; vertical-align: top; border-top: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0);">
                <div style="text-align: center; line-height: 1.25; font-family: 'Times New Roman', Times, serif; font-weight: bold;">AGAINST</div>
              </td>
              <td style="width: 10%; vertical-align: top; border-top: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0); border-right: 1px solid rgb(0, 0, 0);">
                <div style="text-align: center; line-height: 1.25; font-family: 'Times New Roman', Times, serif; font-weight: bold;">ABSTAIN</div>
              </td>
            </tr>
            <tr>
              <td style="width: 2%; vertical-align: top; border-top: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0);">&#160;</td>
              <td style="width: 10%; vertical-align: top; border-top: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0);">
                <div style="text-align: center; line-height: 1.25; font-family: 'Times New Roman', Times, serif;">&#9744;</div>
              </td>
              <td style="width: 10%; vertical-align: top; border-top: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0);">
                <div style="text-align: center; line-height: 1.25; font-family: 'Times New Roman', Times, serif;">&#9744;</div>
              </td>
              <td style="width: 10%; vertical-align: top; border-top: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0); border-right: 1px solid rgb(0, 0, 0);">
                <div style="text-align: center; line-height: 1.25; font-family: 'Times New Roman', Times, serif;">&#9744;</div>
              </td>
            </tr>
            <tr>
              <td style="width: 2%; vertical-align: top; border-top: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0);">&#160;</td>
              <td colspan="4" rowspan="2" style="vertical-align: top; border-top: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0);">
                <div style="text-align: justify; line-height: 1.25; font-family: 'Times New Roman', Times, serif; font-weight: bold;">PROPOSAL NO. 3: To consider and act upon a proposal to approve the grant of 13,333 options to purchase Ordinary Shares of
                  the Company pursuant to the Plan and in compliance with the Compensation Policy and the Compensation Policy Cap to Mr. Yeshayahu ('Shaike') Orbach, the Company's President and Chief Executive Officer.</div>
              </td>
              <td style="width: 10%; vertical-align: top; border-top: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0);">
                <div style="text-align: center; line-height: 1.25; font-family: 'Times New Roman', Times, serif; font-weight: bold;">FOR</div>
              </td>
              <td style="width: 10%; vertical-align: top; border-top: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0);">
                <div style="text-align: center; line-height: 1.25; font-family: 'Times New Roman', Times, serif; font-weight: bold;">AGAINST</div>
              </td>
              <td style="width: 10%; vertical-align: top; border-top: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0); border-right: 1px solid rgb(0, 0, 0);">
                <div style="text-align: center; line-height: 1.25; font-family: 'Times New Roman', Times, serif; font-weight: bold;">ABSTAIN</div>
              </td>
            </tr>
            <tr>
              <td style="width: 2%; vertical-align: top; border-top: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0);">&#160;</td>
              <td style="width: 10%; vertical-align: top; border-top: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0);">
                <div style="text-align: center; line-height: 1.25; font-family: 'Times New Roman', Times, serif;">&#9744;</div>
              </td>
              <td style="width: 10%; vertical-align: top; border-top: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0);">
                <div style="text-align: center; line-height: 1.25; font-family: 'Times New Roman', Times, serif;">&#9744;</div>
              </td>
              <td style="width: 10%; vertical-align: top; border-top: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0); border-right: 1px solid rgb(0, 0, 0);">
                <div style="text-align: center; line-height: 1.25; font-family: 'Times New Roman', Times, serif;">&#9744;</div>
              </td>
            </tr>
            <tr>
              <td style="width: 2%; vertical-align: top; border-top: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0);">&#160;</td>
              <td colspan="4" style="vertical-align: top; border-top: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0);">
                <div style="text-align: justify; line-height: 1.25; font-family: 'Times New Roman', Times, serif;">DO YOU HAVE A "PERSONAL INTEREST" <font style="font-weight: bold;">(AS DEFINED BELOW</font>) WITH RESPECT TO THE SUBJECT MATTER OF PROPOSAL
                  3? (<font style="font-weight: bold;">PLEASE NOTE: IF YOU DO NOT MARK EITHER YES OR NO YOU WILL BE DEEMED AS HAVING A PERSONAL INTEREST WITH RESPECT TO PROPOSAL 3 AND YOUR VOTE WILL NOT BE COUNTED FOR THE SPECIAL DISINTERESTED MAJORITY
                    REQUIRED FOR THE APPROVAL OF PROPOSAL 3).</font></div>
              </td>
              <td style="width: 10%; vertical-align: top; border-top: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0);">
                <div style="text-align: center; line-height: 1.25; font-family: 'Times New Roman', Times, serif; font-weight: bold;">YES</div>
                <div style="text-align: center; line-height: 1.25; font-family: 'Times New Roman', Times, serif;">&#9744;</div>
              </td>
              <td style="width: 10%; vertical-align: top; border-top: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0);">
                <div style="text-align: center; line-height: 1.25; font-family: 'Times New Roman', Times, serif; font-weight: bold;">NO</div>
                <div style="text-align: center; line-height: 1.25; font-family: 'Times New Roman', Times, serif;">&#9744;</div>
                <div style="line-height: 1.25;"><font style="line-height: 1.25;">&#160;</font></div>
              </td>
              <td style="width: 10%; vertical-align: top; border-top: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0); border-right: 1px solid rgb(0, 0, 0);">&#160;</td>
            </tr>
            <tr>
              <td style="width: 2%; vertical-align: top; border-top: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0);">&#160;</td>
              <td colspan="4" rowspan="2" style="vertical-align: top; border-top: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0);">
                <div style="text-align: justify; line-height: 1.25; font-family: 'Times New Roman', Times, serif; font-weight: bold;">PROPOSAL NO. 4: To consider and act upon a proposal to approve the grant of 25,000 Restricted Stock Units pursuant to the
                  Plan and in compliance with the Compensation Policy and the Compensation Policy Cap to Mr. Yeshayahu ('Shaike') Orbach, the Company's President and Chief Executive Officer.</div>
              </td>
              <td style="width: 10%; vertical-align: top; border-top: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0);">
                <div style="text-align: center; line-height: 1.25; font-family: 'Times New Roman', Times, serif; font-weight: bold;">FOR</div>
              </td>
              <td style="width: 10%; vertical-align: top; border-top: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0);">
                <div style="text-align: center; line-height: 1.25; font-family: 'Times New Roman', Times, serif; font-weight: bold;">AGAINST</div>
              </td>
              <td style="width: 10%; vertical-align: top; border-top: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0); border-right: 1px solid rgb(0, 0, 0);">
                <div style="text-align: center; line-height: 1.25; font-family: 'Times New Roman', Times, serif; font-weight: bold;">ABSTAIN</div>
              </td>
            </tr>
            <tr>
              <td style="width: 2%; vertical-align: top; border-top: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0);">&#160;</td>
              <td style="width: 10%; vertical-align: top; border-top: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0);">
                <div style="text-align: center; line-height: 1.25; font-family: 'Times New Roman', Times, serif;">&#9744;</div>
              </td>
              <td style="width: 10%; vertical-align: top; border-top: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0);">
                <div style="text-align: center; line-height: 1.25; font-family: 'Times New Roman', Times, serif;">&#9744;</div>
              </td>
              <td style="width: 10%; vertical-align: top; border-top: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0); border-right: 1px solid rgb(0, 0, 0);">
                <div style="text-align: center; line-height: 1.25; font-family: 'Times New Roman', Times, serif;">&#9744;</div>
              </td>
            </tr>
            <tr>
              <td style="width: 2%; vertical-align: top; border-top: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0);">&#160;</td>
              <td colspan="4" style="vertical-align: top; border-top: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0);">
                <div style="text-align: justify; line-height: 1.25; font-family: 'Times New Roman', Times, serif;">DO YOU HAVE A "PERSONAL INTEREST" <font style="font-weight: bold;">(AS DEFINED BELOW</font>) WITH RESPECT TO THE SUBJECT MATTER OF PROPOSAL
                  4? (<font style="font-weight: bold;">PLEASE NOTE: IF YOU DO NOT MARK EITHER YES OR NO YOU WILL BE DEEMED AS HAVING A PERSONAL INTEREST WITH RESPECT TO PROPOSAL 4 AND YOUR VOTE WILL NOT BE COUNTED FOR THE SPECIAL DISINTERESTED MAJORITY
                    REQUIRED FOR THE APPROVAL OF PROPOSAL 4).</font></div>
              </td>
              <td style="width: 10%; vertical-align: top; border-top: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0);">
                <div style="text-align: center; line-height: 1.25; font-family: 'Times New Roman', Times, serif; font-weight: bold;">YES</div>
                <div style="text-align: center; line-height: 1.25; font-family: 'Times New Roman', Times, serif;">&#9744;</div>
              </td>
              <td style="width: 10%; vertical-align: top; border-top: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0);">
                <div style="text-align: center; line-height: 1.25; font-family: 'Times New Roman', Times, serif; font-weight: bold;">NO</div>
                <div style="text-align: center; line-height: 1.25; font-family: 'Times New Roman', Times, serif;">&#9744;</div>
              </td>
              <td style="width: 10%; vertical-align: top; border-top: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0); border-right: 1px solid rgb(0, 0, 0);"><br>
              </td>
            </tr>
            <tr>
              <td rowspan="2" style="width: 2%; vertical-align: top; border-top: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0);">&#160;</td>
              <td colspan="4" rowspan="2" style="vertical-align: top; border-top: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0);">
                <div style="text-align: justify; line-height: 1.25; font-family: 'Times New Roman', Times, serif; font-weight: bold;">PROPOSAL NO.5: To consider and act upon a proposal to approve the grant of 25,000 Restricted Stock Units pursuant to the
                  Plan and in compliance with the Compensation Policy and the Compensation Policy Cap to Mr. Avi Eizenman, the Company's Active Chairman of the Board of Directors.</div>
              </td>
              <td style="width: 10%; vertical-align: top; border-top: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0);">
                <div style="text-align: center; line-height: 1.25; font-family: 'Times New Roman', Times, serif; font-weight: bold;">FOR</div>
              </td>
              <td style="width: 10%; vertical-align: top; border-top: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0);">
                <div style="text-align: center; line-height: 1.25; font-family: 'Times New Roman', Times, serif; font-weight: bold;">AGAINST</div>
              </td>
              <td style="width: 10%; vertical-align: top; border-top: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0); border-right: 1px solid rgb(0, 0, 0);">
                <div style="text-align: center; line-height: 1.25; font-family: 'Times New Roman', Times, serif; font-weight: bold;">ABSTAIN</div>
              </td>
            </tr>
            <tr>
              <td style="width: 10%; vertical-align: top; border-top: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0);">
                <div style="text-align: center; line-height: 1.25; font-family: 'Times New Roman', Times, serif;">&#9744;</div>
              </td>
              <td style="width: 10%; vertical-align: top; border-top: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0);">
                <div style="text-align: center; line-height: 1.25; font-family: 'Times New Roman', Times, serif;">&#9744;</div>
              </td>
              <td style="width: 10%; vertical-align: top; border-top: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0); border-right: 1px solid rgb(0, 0, 0);">
                <div style="text-align: center; line-height: 1.25; font-family: 'Times New Roman', Times, serif;">&#9744;</div>
              </td>
            </tr>
            <tr>
              <td rowspan="2" style="width: 2%; vertical-align: top; border-top: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0);">&#160;</td>
              <td colspan="4" rowspan="2" style="vertical-align: top; border-top: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0);">
                <div style="text-align: justify; line-height: 1.25; font-family: 'Times New Roman', Times, serif;"><font style="font-weight: bold;">PROPOSAL NO. 6: To consider and act upon a proposal to approve the appointment of Somekh Chaikin, Certified
                    Public Accountants (Israel), a member of KPMG International, as the independent public accountants of the Company for year ending December 31, 2020, and until the next annual general</font>&#160;<font style="font-weight: bold;">meeting of
                    the shareholders of the Company, and to authorize the Audit Committee of the Board of Directors to fix the compensation of such auditors in accordance with the amount and nature of their services.</font></div>
              </td>
              <td style="width: 10%; vertical-align: top; border-top: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0);">
                <div style="text-align: center; line-height: 1.25; font-family: 'Times New Roman', Times, serif; font-weight: bold;">FOR</div>
              </td>
              <td style="width: 10%; vertical-align: top; border-top: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0);">
                <div style="text-align: center; line-height: 1.25; font-family: 'Times New Roman', Times, serif; font-weight: bold;">AGAINST</div>
              </td>
              <td style="width: 10%; vertical-align: top; border-top: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0); border-right: 1px solid rgb(0, 0, 0);">
                <div style="text-align: center; line-height: 1.25; font-family: 'Times New Roman', Times, serif; font-weight: bold;">ABSTAIN</div>
              </td>
            </tr>
            <tr>
              <td style="width: 10%; vertical-align: top; border-top: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0);">
                <div style="text-align: center; line-height: 1.25; font-family: 'Times New Roman', Times, serif;">&#9744;</div>
                <div style="line-height: 1.25;"><font style="line-height: 1.25;">&#160;</font></div>
              </td>
              <td style="width: 10%; vertical-align: top; border-top: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0);">
                <div style="text-align: center; line-height: 1.25; font-family: 'Times New Roman', Times, serif;">&#9744;</div>
                <div style="line-height: 1.25;"><font style="line-height: 1.25;">&#160;</font></div>
              </td>
              <td style="width: 10%; vertical-align: top; border-top: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0); border-right: 1px solid rgb(0, 0, 0);">
                <div style="text-align: center; line-height: 1.25; font-family: 'Times New Roman', Times, serif;">&#9744;</div>
                <div style="line-height: 1.25;"><font style="line-height: 1.25;">&#160;</font></div>
              </td>
            </tr>
            <tr>
              <td colspan="8" style="vertical-align: top; border-top: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0); border-right: 1px solid rgb(0, 0, 0);">
                <div style="line-height: 1.25;"><font style="line-height: 1.25;">&#160;</font></div>
                <div style="text-align: justify; line-height: 1.25; font-family: 'Times New Roman', Times, serif;">The undersigned hereby acknowledges receipt of the Notice of the Annual General Meeting, revokes any proxy or proxies heretofore given to
                  vote upon or act with respect to the undersigned&#8217;s shares and hereby ratifies and confirms all that the proxies, their substitutes, or any of them, may lawfully do by virtue hereof.</div>
                <div style="line-height: 1.25;"><font style="line-height: 1.25;">&#160;</font></div>
              </td>
            </tr>
            <tr>
              <td colspan="2" style="vertical-align: top; border-top: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0);">
                <div style="text-align: justify; text-indent: 21.3pt; line-height: 1.25; font-family: 'Times New Roman', Times, serif;">____________________________</div>
              </td>
              <td style="width: 21.1%; vertical-align: top; border-top: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0);">&#160;</td>
              <td colspan="2" style="vertical-align: top; border-top: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0);">
                <div style="text-align: center; line-height: 1.25; font-family: 'Times New Roman', Times, serif;">______________________________________</div>
              </td>
              <td style="width: 10%; vertical-align: top; border-top: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0);">&#160;</td>
              <td colspan="2" style="vertical-align: top; border-top: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0); border-right: 1px solid rgb(0, 0, 0);">
                <div style="text-align: center; line-height: 1.25; font-family: 'Times New Roman', Times, serif;">_______________________</div>
              </td>
            </tr>
            <tr>
              <td colspan="2" style="vertical-align: top; border-top: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);">
                <div style="text-align: center; line-height: 1.25; font-family: 'Times New Roman', Times, serif;">(NAME OF SHAREHOLDER)</div>
              </td>
              <td style="width: 21.1%; vertical-align: top; border-top: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);">&#160;</td>
              <td colspan="2" style="vertical-align: top; border-top: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);">
                <div style="text-align: center; line-height: 1.25; font-family: 'Times New Roman', Times, serif;">(SIGNATURE OF SHAREHOLDER)</div>
              </td>
              <td style="width: 10%; vertical-align: top; border-top: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);">&#160;</td>
              <td colspan="2" style="vertical-align: top; border-width: 1px; border-style: solid; border-color: rgb(0, 0, 0);">
                <div style="text-align: center; line-height: 1.25; font-family: 'Times New Roman', Times, serif;">(DATE)</div>
              </td>
            </tr>

        </table>
        <div style="background-color: #FFFFFF; line-height: 1.25;">
          <div style="line-height: 1.25;"><br style="line-height: 1.25;">
          </div>
          <div style="text-align: justify; text-indent: 36pt; line-height: 1.25;">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 has a Personal Interest in
            connection with Proposals 1, 3, and 4, as a condition for his or her vote to be counted with respect to such Proposal. If any shareholder casting a vote in connection hereto does not notify us if he, she or it has a Personal Interest with
            respect to Proposals 1, 3, and 4, his, her or its vote with respect to such Proposal his, her or its vote will not be counted for the special disinterested majority required for the approval of such Proposal.</div>
        </div>
        <div style="background-color: #FFFFFF; line-height: 1.25;">
          <div style="line-height: 1.25;"><br style="line-height: 1.25;">
          </div>
        </div>
        <div style="background-color: #FFFFFF; line-height: 1.25;">
          <div style="text-align: justify; text-indent: 36pt; line-height: 1.25;">For this purpose, "Personal Interest" is defined as: (1) a shareholder's personal interest in the approval of an act or a transaction of the Company, including (i) the
            personal interest of his or her relative (which includes for these purposes any members of his/her (or his/her spouse's) immediate family or the spouses of any such members of his or her (or his/her spouse's) immediate family); and (ii) a
            personal interest of a body corporate in which a shareholder or any of his/her aforementioned relatives serves as a director or the chief executive officer, owns at least 5% of its issued share capital or its voting rights or has the right to
            appoint a director or chief executive officer, but (2) excluding a personal interest arising solely from the fact of holding shares in the Company or in a body corporate.</div>
        </div>
        <div style="text-align: center; text-indent: -1.3pt; margin-left: 1.3pt; line-height: 1.25; font-weight: bold;"> <br>
        </div>
        <br>
      </div>
      <div>
        <hr align="center" style="border: none; border-bottom: 4px solid black; border-top: 1px solid black; height: 10px; color: #ffffff; background-color: #ffffff; text-align: center; margin-left: auto; margin-right: auto;"></div>
      <br>
    </div>
  </div>
</body>
</html>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
