<SEC-DOCUMENT>0001178913-22-002813.txt : 20220727
<SEC-HEADER>0001178913-22-002813.hdr.sgml : 20220727
<ACCEPTANCE-DATETIME>20220727163012
ACCESSION NUMBER:		0001178913-22-002813
CONFORMED SUBMISSION TYPE:	6-K
PUBLIC DOCUMENT COUNT:		3
CONFORMED PERIOD OF REPORT:	20220727
FILED AS OF DATE:		20220727
DATE AS OF CHANGE:		20220727

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			ELTEK LTD
		CENTRAL INDEX KEY:			0001024672
		STANDARD INDUSTRIAL CLASSIFICATION:	PRINTED CIRCUIT BOARDS [3672]
		IRS NUMBER:				000000000
		STATE OF INCORPORATION:			L3
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		6-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	000-28884
		FILM NUMBER:		221111371

	BUSINESS ADDRESS:	
		STREET 1:		SGOOLA INDUSTRIAL ZONE
		STREET 2:		P O B 159
		CITY:			PETACH TIKVA
		STATE:			L3
		ZIP:			49101 I
		BUSINESS PHONE:		972-3-9395025

	MAIL ADDRESS:	
		STREET 1:		SGOOLA INDUSTRIAL ZONE
		STREET 2:		P O B 159
		CITY:			PETACH TIKVA
		STATE:			L3
		ZIP:			49101
</SEC-HEADER>
<DOCUMENT>
<TYPE>6-K
<SEQUENCE>1
<FILENAME>zk2228195.htm
<DESCRIPTION>6-K
<TEXT>
<html>
  <head>
    <title></title>
    <!-- Licensed to: Z-K GLOBAL
         Document created using EDGARfilings PROfile 8.4.0.0
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<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;">
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      <div id="DSPFPageHeader">
        <div style="line-height: 1.25;"><br style="line-height: 1.25;">
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      <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="text-align: center; line-height: 1.25; font-weight: bold;">Washington, D.C.&#160; 20549</div>
      <div style="text-align: center; line-height: 1.25;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<br style="line-height: 1.25;">
      </div>
      <div style="line-height: 1.25; text-align: center;">
        <hr align="center" style="height: 1px; width: 25%; color: #000000; background-color: #000000; margin-left: auto; margin-right: auto; border: none;"></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-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;">F O R M&#160; 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 PURSUANT TO RULE 13a-16 OR 15d-16 <br>
        UNDER 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 July 2022</div>
      <div style="line-height: 1.25;"><br style="line-height: 1.25;">
      </div>
      <div style="text-align: center; line-height: 1.25;">Commission&#160;file&#160;number 000-28884</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;"><u>Eltek Ltd.</u></div>
      <div style="text-align: center; line-height: 1.25;">(Name of Registrant)</div>
      <div style="line-height: 1.25;"><br style="line-height: 1.25;">
      </div>
      <div style="text-align: center; line-height: 1.25;">Sgoola Industrial Zone, Petach Tikva, Israel</div>
      <div style="text-align: center; line-height: 1.25;">&#160;(Address of Principal Executive Office)</div>
      <div style="line-height: 1.25;"><br style="line-height: 1.25;">
      </div>
      <div style="text-indent: 36pt; line-height: 1.25; font-weight: bold;">Indicate by check mark whether the registrant files or will file annual reports under cover of Form
        20-F or Form 40-F.</div>
      <div style="line-height: 1.25;"><br style="line-height: 1.25;">
      </div>
      <div style="text-align: center; line-height: 1.25;"><font style="font-weight: bold;">Form 20-F &#9746;</font> &#160;&#160;&#160;&#160;&#160;&#160; <font style="font-weight: bold;">Form 40-F &#9744;</font></div>
      <div style="line-height: 1.25;"><br style="line-height: 1.25;">
      </div>
      <div style="text-indent: 36pt; line-height: 1.25; font-weight: bold;">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): &#9744;</div>
      <div style="line-height: 1.25;"><br style="line-height: 1.25;">
      </div>
      <div style="text-indent: 36pt; line-height: 1.25; font-weight: bold;">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): &#9744;</div>
      <div style="text-indent: 36pt; line-height: 1.25; font-weight: bold;"> <br>
      </div>
      <div style="line-height: 1.25; font-weight: bold;">This Form 6-K is being incorporated by reference into the Registrant&#8217;s Form S-8 Registration Statements File Nos.
        333-123559 and 333-130611.</div>
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      <div style="line-height: 1.25;"><br style="line-height: 1.25;">
      </div>
      <div style="text-align: center; line-height: 1.25;">Eltek Ltd.</div>
      <div style="text-align: center; line-height: 1.25;">&#160;</div>
      <div style="text-align: center; line-height: 1.25;">EXPLANATORY NOTE</div>
      <div style="text-align: center; line-height: 1.25;">&#160;</div>
      <div style="text-align: justify; line-height: 1.25;">The following exhibits are attached:</div>
      <div style="line-height: 1.25;">&#160;</div>
      <table cellspacing="0" cellpadding="0" id="z9de90e932c324589850ac065a619d43a" class="DSPFListTable" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

          <tr>
            <td style="width: 36pt; vertical-align: top; align: right;">99.1</td>
            <td style="width: auto; vertical-align: top;">
              <div>The Registrant&#8217; Notice of and Proxy Statement for the Annual General Meeting to be held on August 31, 2022.</div>
            </td>
          </tr>

      </table>
      <div style="line-height: 1.25;"><br style="line-height: 1.25;">
      </div>
      <div>
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              <td style="vertical-align: top; width: 36pt;">
                <div style="text-align: left; line-height: 1.25;">99.2</div>
              </td>
              <td style="align: left; vertical-align: top; width: auto;">
                <div style="text-align: left; line-height: 1.25;">Form of Proxy Card.</div>
              </td>
            </tr>

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      <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="text-indent: 36pt; 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>
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          <tr>
            <td style="width: 50%; vertical-align: top;">&#160;</td>
            <td style="width: 3%; vertical-align: top;" rowspan="1" colspan="2">
              <div style="line-height: 1.25;">ELTEK LTD.</div>
              <div style="line-height: 1.25;">
                <div style="line-height: 1.25;">(Registrant)</div>
              </div>
            </td>
            <td style="width: 23%; vertical-align: top;">&#160;</td>
          </tr>
          <tr>
            <td style="width: 50%; vertical-align: top;">&#160;</td>
            <td style="width: 3%; vertical-align: top;">&#160;</td>
            <td style="width: 24%; vertical-align: top;">&#160;</td>
            <td style="width: 23%; vertical-align: top;">&#160;</td>
          </tr>
          <tr>
            <td style="width: 50%; vertical-align: top;">&#160;</td>
            <td style="width: 3%; vertical-align: top;">
              <div style="line-height: 1.25;">By:</div>
            </td>
            <td style="width: 24%; vertical-align: top; border-bottom: 2px solid black;">
              <div style="line-height: 1.25; font-style: italic;">/s/Ron Freund</div>
            </td>
            <td style="width: 23%; vertical-align: top;">&#160;</td>
          </tr>
          <tr>
            <td style="width: 50%; vertical-align: top;">&#160;</td>
            <td style="width: 3%; vertical-align: top;">&#160;</td>
            <td style="width: 24%; vertical-align: top;">
              <div style="line-height: 1.25;">Ron Freund</div>
            </td>
            <td style="width: 23%; vertical-align: top;">&#160;</td>
          </tr>
          <tr>
            <td style="width: 50%; vertical-align: top;">&#160;</td>
            <td style="width: 3%; vertical-align: top;">&#160;</td>
            <td style="width: 24%; vertical-align: top;">
              <div style="line-height: 1.25;">Chief Financial Officer</div>
            </td>
            <td style="width: 23%; 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;">Date:&#160; July 27, 2022</div>
      <div style="line-height: 1.25;"><br style="line-height: 1.25;">
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      <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;">EXHIBIT INDEX</div>
      <div style="text-align: center; line-height: 1.25;">&#160;</div>
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          <tr>
            <td style="width: 8%; vertical-align: top; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: center; line-height: 1.25;">EXHIBIT NO.</div>
            </td>
            <td style="width: 2%; vertical-align: top;">
              <div style="text-align: justify; line-height: 1.25;">&#160;</div>
            </td>
            <td style="width: 90%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: justify; line-height: 1.25;">DESCRIPTION</div>
            </td>
          </tr>
          <tr>
            <td style="width: 8%; vertical-align: top;">
              <div style="text-align: justify; line-height: 1.25;">&#160;</div>
            </td>
            <td style="width: 2%; vertical-align: top;"><br>
            </td>
            <td style="width: 90%; vertical-align: top;">
              <div style="text-align: justify; line-height: 1.25;">&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 8%; vertical-align: top;">
              <div style="text-align: justify; line-height: 1.25;"><a href="exhibit_99-1.htm">99.1</a></div>
            </td>
            <td style="width: 2%; vertical-align: top;"><a href="exhibit_99-1.htm"><br>
              </a></td>
            <td style="width: 90%; vertical-align: top;">
              <div style="line-height: 1.25;"><a href="exhibit_99-1.htm">The Registrant&#8217; Notice
                  of and Proxy Statement for the Annual General Meeting to be held on August 31, 2022.</a></div>
            </td>
          </tr>
          <tr>
            <td style="width: 8%; vertical-align: top;">&#160;</td>
            <td style="width: 2%; vertical-align: top;"><br>
            </td>
            <td style="width: 90%; vertical-align: top;">&#160;</td>
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          <tr>
            <td style="width: 8%; vertical-align: top;">
              <div style="text-align: justify; line-height: 1.25;"><a href="exhibit_99-2.htm">99.2</a></div>
            </td>
            <td style="width: 2%; vertical-align: top;"><a href="exhibit_99-2.htm"><br>
              </a></td>
            <td style="width: 90%; vertical-align: top;">
              <div style="line-height: 1.25;"><a href="exhibit_99-2.htm">Form of Proxy Card.</a></div>
            </td>
          </tr>

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</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99.1
<SEQUENCE>2
<FILENAME>exhibit_99-1.htm
<DESCRIPTION>EXHIBIT 99.1
<TEXT>
<html>
  <head>
    <title></title>
    <!-- Licensed to: Z-K GLOBAL
         Document created using EDGARfilings PROfile 8.4.0.0
         Copyright 1995 - 2022 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>
      <div>
        <div style="text-align: right; line-height: 1.25; font-weight: bold;"><u>EXHIBIT 99.1</u></div>
      </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;">Eltek Ltd.</div>
        <div style="line-height: 1.25">&#160;</div>
        <div style="text-align: center; line-height: 1.25; font-weight: bold;">20 Ben Zion Gelis Street, Petach Tikva, Israel</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;">To Be Held on August 31, 2022</div>
        <div style="line-height: 1.25">&#160;</div>
        <div style="text-align: justify; margin-left: 36pt; line-height: 1.25;">To our Shareholders:</div>
        <div style="line-height: 1.25">&#160;</div>
        <div style="text-align: justify; text-indent: 36pt; line-height: 1.25;">You are invited to attend the Annual Meeting of Shareholders of Eltek Ltd. (&#8220;<u>Eltek</u>&#8221; or the &#8220;<u>Company</u>&#8221;) to be held at the Company&#8217;s offices, at 20 Ben Zion Gelis
          Street, Petach Tikva, Israel,&#160;on August 31, 2022 at 10:00 A.M. local time, and thereafter as it may be adjourned from time to time (the &#8220;<u>Meeting</u>&#8221;) for the following purposes:</div>
        <div style="line-height: 1.25">&#160;</div>
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            <tr>
              <td style="width: 22.5pt;"><br>
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              <td style="width: 36pt; vertical-align: top; align: right;">1.</td>
              <td style="width: auto; vertical-align: top; text-align: justify;">
                <div>To re-elect Messrs. Yitzhak Nissan, Mordechai Marmorstein, David Rubner and Erez Meltzer to the Company&#8217;s Board of Directors, to serve until the next annual general meeting of shareholders and until their successors have been duly
                  elected and qualified;</div>
              </td>
            </tr>

        </table>
        <div style="line-height: 1.25">&#160;</div>
        <table cellspacing="0" cellpadding="0" id="z9eb5c53797354bdcac9e7994abc93f10" class="DSPFListTable" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

            <tr>
              <td style="width: 22.5pt;"><br>
              </td>
              <td style="width: 36pt; vertical-align: top; align: right;">2.</td>
              <td style="width: auto; vertical-align: top; text-align: justify;">
                <div>To approve the Company&#8217;s Amended and Restated Compensation Policy, as described in the Proxy Statement;</div>
              </td>
            </tr>

        </table>
        <div style="line-height: 1.25">&#160;</div>
        <table cellspacing="0" cellpadding="0" id="z3abe27ecae964621831692bcc17cb2dc" class="DSPFListTable" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

            <tr>
              <td style="width: 22.5pt;"><br>
              </td>
              <td style="width: 36pt; vertical-align: top; align: right;">3.</td>
              <td style="width: auto; vertical-align: top; text-align: justify;">
                <div>To approve the extension, amendment and restatement of the Company&#8217;s Amended Management Agreement with Nistec Ltd., our Controlling shareholder;</div>
              </td>
            </tr>

        </table>
        <div style="line-height: 1.25">&#160;</div>
        <table cellspacing="0" cellpadding="0" id="zab4a444296b54856b9394f58729208c7" class="DSPFListTable" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

            <tr>
              <td style="width: 22.5pt;"><br>
              </td>
              <td style="width: 36pt; vertical-align: top; align: right;">4.</td>
              <td style="width: auto; vertical-align: top; text-align: justify;">
                <div>To approve the extension of the exculpation letter granted to Mr. Yitzhak Nissan, as described in the Proxy Statement;</div>
              </td>
            </tr>

        </table>
        <div style="line-height: 1.25">&#160;</div>
        <table cellspacing="0" cellpadding="0" id="z5913379f8db349c0bb186642aa850bf8" class="DSPFListTable" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

            <tr>
              <td style="width: 22.5pt;"><br>
              </td>
              <td style="width: 36pt; vertical-align: top; align: right;">5.</td>
              <td style="width: auto; vertical-align: top; text-align: justify;">
                <div>To approve the extension of the indemnification letter granted to Mr. Yitzhak Nissan, as described in the Proxy Statement;</div>
              </td>
            </tr>

        </table>
        <div style="line-height: 1.25">&#160;</div>
        <table cellspacing="0" cellpadding="0" id="zcad5228bd9a248259da44a17443e6995" class="DSPFListTable" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

            <tr>
              <td style="width: 22.5pt;"><br>
              </td>
              <td style="width: 36pt; vertical-align: top; align: right;">6.</td>
              <td style="width: auto; vertical-align: top; text-align: justify;">
                <div>To approve the amendment to the terms of employment of the Company&#8217;s CEO, Mr. Eli Yaffe, as described in the Proxy Statement;</div>
              </td>
            </tr>

        </table>
        <div style="line-height: 1.25">&#160;</div>
        <table cellspacing="0" cellpadding="0" id="ze680c73cb7e3427284e62f55ed27cf18" class="DSPFListTable" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

            <tr>
              <td style="width: 22.5pt;"><br>
              </td>
              <td style="width: 36pt; vertical-align: top; align: right;">7.</td>
              <td style="width: auto; vertical-align: top; text-align: justify;">
                <div>To ratify and approve the performance bonus granted to the Company&#8217;s CEO, Mr. Eli Yaffe, for the year 2021, as described in the Proxy Statement;</div>
              </td>
            </tr>

        </table>
        <div style="line-height: 1.25">&#160;</div>
        <table cellspacing="0" cellpadding="0" id="z059a967402b8469eb452448790db0f66" class="DSPFListTable" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

            <tr>
              <td style="width: 22.5pt;"><br>
              </td>
              <td style="width: 36pt; vertical-align: top; align: right;">8.</td>
              <td style="width: auto; vertical-align: top; text-align: justify;">
                <div>To re-appoint Brightman Almagor Zohar &amp; Co., a firm in the Deloitte Global Network, as the Company&#8217;s independent auditors for the year ending December 31, 2022 and for such additional period until the next annual general meeting of
                  shareholders, and to authorize the Company&#8217;s Board of Directors to approve their compensation;</div>
              </td>
            </tr>

        </table>
        <div style="line-height: 1.25">&#160;</div>
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            <tr>
              <td style="width: 22.5pt;"><br>
              </td>
              <td style="width: 36pt; vertical-align: top; align: right;">9.</td>
              <td style="width: auto; vertical-align: top; text-align: justify;">
                <div>To review the Auditor&#8217;s Report and the Company&#8217;s Consolidated Financial Statements for the fiscal year ended December 31, 2021.</div>
              </td>
            </tr>

        </table>
        <div style="line-height: 1.25">&#160;</div>
        <div style="text-align: justify; text-indent: 36pt; line-height: 1.25;">The Company&#8217;s Board of Directors has fixed the close of business on July 29, 2022 as the date for determining the holders of record of the Company&#8217;s ordinary shares, nominal
          value NIS 3.00 per share, (the &#8220;<u>Ordinary Shares</u>&#8221;) entitled to notice of and to vote at the Meeting and any adjournments thereof.</div>
        <div style="line-height: 1.25">&#160;</div>
        <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" id="DSPFPageBreakArea">
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        <!--PROfilePageNumberReset%LCR%2%%%-->
        <div style="text-align: justify; text-indent: 36pt; line-height: 1.25;">Shareholders of record at the close of business on July 29, 2022 (the &#8220;<u>Record Date</u>&#8221;) are entitled to notice of and to vote at the Meeting and any adjournments thereof.
          You can vote either by mailing in your proxy or in person by attending the Meeting. Only proxies that are received at the Company&#8217;s offices at 20 Ben Zion Gelis Street, Petach Tikva, Israel&#160;or its Transfer Agent by August 29, 2022 at 10:00 A.M.
          local time, will be deemed received in a timely fashion and the votes therein recorded. If you attend the Meeting, you can revoke your proxy and vote your shares in person. Detailed proxy voting instructions are provided both in the proxy
          statement and on the enclosed proxy card.</div>
        <div style="line-height: 1.25">&#160;</div>
        <div style="text-align: justify; text-indent: 36pt; line-height: 1.25; font-weight: bold;">If and to the extent we become aware of any&#160;COVID-19&#160;restrictions likely to materially affect the Meeting, the Company reserves the option to convert the
          Meeting to a virtual setting only at the same date or a later date. In such event, the Company will issue a press release and furnish a Form 6-K or other document to the SEC prior to the date of the Meeting outlining the manner in which
          shareholders may attend the virtual meeting.</div>
        <div style="line-height: 1.25">&#160;</div>
        <div style="text-align: justify; text-indent: 36pt; line-height: 1.25; font-weight: bold;">Pursuant to the Company&#8217;s Amended and Restated Articles of Association, the quorum required for the Meeting consists of at least two shareholders present, in
          person or by proxy, who hold or represent between them at least 25% of the Company&#8217;s issued and outstanding share capital.</div>
        <div style="line-height: 1.25">&#160;</div>
        <div style="line-height: 1.25;">
          <div style="text-align: justify; text-indent: 36pt; line-height: 1.25;">Items 1 and 8 are ordinary resolutions, which require the affirmative vote of a majority of the Ordinary Shares voted in person or by proxy at the Meeting on the matter
            presented for passage. The votes of all shareholders voting on the matter will be counted.</div>
          <div style="line-height: 1.25">&#160;</div>
        </div>
        <div style="text-align: justify; text-indent: 36pt; line-height: 1.25;">Items 2 to 7 are special resolutions, which are submitted for&#160;Shareholder approval, following approval of each of (i) the Company&#8217;s Audit Committee or Compensation Committee,
          as applicable, and (ii) the Company&#8217;s Board of Directors. Shareholder approval requires the affirmative vote of a majority of the shares present, in person or by proxy, and voting on the matter, <font style="font-style: italic;">provided</font>
          that either (i) at least a majority of the voted shares of shareholders who are not Controlling Shareholders and who do not have a Personal Interest in the proposed resolution, are voted in favor thereof; or (ii) the total number of shares of
          shareholders who are not Controlling Shareholders and who do not have a Personal Interest in the proposed resolution, which are voted against it, does not exceed two percent (2%) of the outstanding voting power in the Company.</div>
        <div style="line-height: 1.25">&#160;</div>
        <div style="text-align: justify; text-indent: 36pt; line-height: 1.25;">Generally, an act or transaction with the Controlling shareholder or in which a Controlling shareholder has a Personal Interest requires shareholder approval every three (3)
          years.</div>
        <div style="line-height: 1.25">&#160;</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 the enclosed proxy card is requested to indicate if he, she or it has a Personal Interest in connection with
          a certain proposal. If any shareholder casting a vote in connection with the proposal does not explicitly indicate on the proxy card that he, she or it has, or does not have, a Personal Interest with respect to the proposal, then the vote on the
          applicable item will not be counted.</div>
        <div style="line-height: 1.25">&#160;</div>
        <div style="text-align: justify; text-indent: 36pt; line-height: 1.25;">The review of our audited Consolidated Financial Statements for the fiscal year ended December 31, 2021 described in Item 9 does not involve a vote of our shareholders.</div>
        <div style="line-height: 1.25">&#160;</div>
        <div style="text-align: justify; text-indent: 36pt; line-height: 1.25;">Further details of these matters to be considered at the Meeting are contained in the Company&#8217;s Proxy Statement furnished herewith. Copies of the resolutions to be adopted at
          the Meeting will be available to any shareholder entitled to vote at the meeting for review at the Company&#8217;s offices during regular business hours.</div>
        <div style="line-height: 1.25">&#160;</div>
        <div style="text-align: justify; text-indent: 36pt; line-height: 1.25;">The Company&#8217;s Board of Directors believes that our shareholders should be represented as fully as possible at the Meeting and encourages your vote. Whether or not you plan to
          be present, kindly complete, date and sign the enclosed proxy card exactly as your name appears on the envelope containing this Notice<font style="font-weight: bold;">&#160;</font>and mail it promptly so that your votes can be recorded. No postage is
          required if mailed in the United States. Return of your proxy does not deprive you of your right to attend the Meeting, to revoke the proxy or to vote your shares in person. All proxy instruments and powers of attorney must be received by the
          Company or its transfer agent no later than 48 hours prior to the Meeting. The Company&#8217;s Proxy Statement is furnished herewith.</div>
        <div style="line-height: 1.25">&#160;</div>
        <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" id="DSPFPageBreakArea">
          <div style="text-align: center;" id="DSPFPageNumberArea"><font style="font-weight: normal; font-style: normal;" id="DSPFPageNumber">ii</font></div>
          <div style="page-break-after: always;" id="DSPFPageBreak">
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        </div>
        <div style="text-align: justify; text-indent: 36pt; line-height: 1.25;">Joint holders of Ordinary Shares should take note that, pursuant to Article 25(e) of the Company&#8217;s Amended and Restated Articles of Association, the vote of the senior of joint
          holders of any share who tenders a vote, whether in person or by proxy, will be accepted to the exclusion of the vote(s) of the other joint holder(s) of the share, and for this purpose seniority will be determined by the order in which the names
          stand in the shareholders&#8217; register.</div>
        <div style="line-height: 1.25">&#160;</div>
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            <tr>
              <td style="width: 40%; 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;">By Order of the Board of Directors,</div>
              </td>
              <td style="width: 30%; vertical-align: top;">&#160;</td>
            </tr>
            <tr>
              <td style="width: 40%; vertical-align: top;">&#160;</td>
              <td style="width: 30%; vertical-align: top; text-align: center;">&#160;</td>
              <td style="width: 30%; vertical-align: top;">&#160;</td>
            </tr>
            <tr>
              <td style="width: 40%; 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;">Yitzhak Nissan</div>
              </td>
              <td style="width: 30%; vertical-align: top;">&#160;</td>
            </tr>
            <tr>
              <td style="width: 40%; 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;">Chairman of the Board of Directors</div>
              </td>
              <td style="width: 30%; vertical-align: top;">&#160;</td>
            </tr>

        </table>
        <div style="text-align: justify; text-indent: 36pt; line-height: 1.25;"><br style="line-height: 1.25;">
        </div>
        <div style="text-align: justify; line-height: 1.25; font-weight: bold;">YOUR VOTE IS IMPORTANT. WHETHER OR NOT YOU EXPECT TO ATTEND THE MEETING, PLEASE DATE AND SIGN THE PROXY CARD AND RETURN IT PROMPTLY IN THE ENCLOSED ENVELOPE FOR WHICH NO
          POSTAGE IS REQUIRED IF MAILED IN THE UNITED STATES. YOU CAN LATER REVOKE YOUR PROXY, ATTEND THE MEETING AND VOTE YOUR SHARES IN PERSON. ALL PROXY INSTRUMENTS AND POWERS OF ATTORNEY MUST BE DELIVERED TO THE COMPANY OR ITS TRANSFER AGENT NO LATER
          THAN 48 HOURS PRIOR TO THE MEETING.</div>
        <div style="line-height: 1.25">&#160;</div>
        <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" id="DSPFPageBreakArea">
          <div style="text-align: center;" id="DSPFPageNumberArea"><font style="font-weight: normal; font-style: normal;" id="DSPFPageNumber">iii</font></div>
          <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="text-align: center; line-height: 1.25; font-weight: bold;">Eltek Ltd.</div>
        <div style="text-align: center; line-height: 1.25;">&#160;20 Ben Zion Gelis Street</div>
        <div style="text-align: center; line-height: 1.25;">&#160; Petach Tikva, Israel</div>
        <div style="line-height: 1.25">&#160;</div>
        <div style="text-align: center; line-height: 1.25; font-weight: bold;">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;">To Be Held on August 31, 2022</div>
        <div style="line-height: 1.25">&#160;</div>
        <div style="text-align: center; line-height: 1.25; font-weight: bold;">PROXY STATEMENT</div>
        <div style="line-height: 1.25">&#160;</div>
        <div style="text-align: justify; text-indent: 36pt; line-height: 1.25;">This Proxy Statement is furnished to the holders of Ordinary Shares, NIS 3.0 nominal value (the &#8220;<u>Ordinary Shares</u>&#8221;), of Eltek Ltd. (&#8220;<u>Eltek</u>&#8221; or the &#8220;<u>Company</u>&#8221;)

          in connection with the solicitation of proxies to be voted at the annual general meeting of shareholders of the Company to be held at the Company&#8217;s offices at 20 Ben Zion Gelis Street, Petach Tikva, Israel, on August 31, 2022 at 10:00 A.M. local
          time, and thereafter as it may be adjourned from time to time (the &#8220;<u>Meeting</u>&#8221;). Our shareholders will be asked to vote upon the following matters:</div>
        <div style="line-height: 1.25">&#160;</div>
        <table cellspacing="0" cellpadding="0" id="z8a23ddda8f134cd1b945128a3463f197" class="DSPFListTable" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

            <tr>
              <td style="width: 22.5pt;"><br>
              </td>
              <td style="width: 36pt; vertical-align: top; align: right;">1.</td>
              <td style="width: auto; vertical-align: top; text-align: justify;">
                <div>To re-elect Messrs. Yitzhak Nissan, Mordechai Marmorstein, David Rubner and Erez Meltzer to the Company&#8217;s Board of Directors, to serve until the next annual general meeting of shareholders and until their successors have been duly
                  elected and qualified;</div>
              </td>
            </tr>

        </table>
        <div style="line-height: 1.25">&#160;</div>
        <table cellspacing="0" cellpadding="0" id="z51064163f2f54b07a97dc3330f113d26" class="DSPFListTable" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

            <tr>
              <td style="width: 22.5pt;"><br>
              </td>
              <td style="width: 36pt; vertical-align: top; align: right;">2.</td>
              <td style="width: auto; vertical-align: top; text-align: justify;">
                <div>To approve the Company&#8217;s Amended and Restated Compensation Policy, as described in the Proxy Statement;</div>
              </td>
            </tr>

        </table>
        <div style="line-height: 1.25">&#160;</div>
        <table cellspacing="0" cellpadding="0" id="z23c8d38943e2496badb8853c2c87c7f8" class="DSPFListTable" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

            <tr>
              <td style="width: 22.5pt;"><br>
              </td>
              <td style="width: 36pt; vertical-align: top; align: right;">3.</td>
              <td style="width: auto; vertical-align: top; text-align: justify;">
                <div>To approve the extension, amendment and restatement of the Company&#8217;s Amended Management Agreement with Nistec Ltd., our controlling shareholder;</div>
              </td>
            </tr>

        </table>
        <div style="line-height: 1.25">&#160;</div>
        <table cellspacing="0" cellpadding="0" id="z5a5ce1d8c95c458b9e3aa288cf2c6765" class="DSPFListTable" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

            <tr>
              <td style="width: 22.5pt;"><br>
              </td>
              <td style="width: 36pt; vertical-align: top; align: right;">4.</td>
              <td style="width: auto; vertical-align: top; text-align: justify;">
                <div>To approve the extension of the exculpation letter granted to Mr. Yitzhak Nissan, as described in the Proxy Statement;</div>
              </td>
            </tr>

        </table>
        <div style="line-height: 1.25">&#160;</div>
        <table cellspacing="0" cellpadding="0" id="z698e39f5203d4399a792b26b4f0a0654" class="DSPFListTable" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

            <tr>
              <td style="width: 22.5pt;"><br>
              </td>
              <td style="width: 36pt; vertical-align: top; align: right;">5.</td>
              <td style="width: auto; vertical-align: top; text-align: justify;">
                <div>To approve the extension of the indemnification letter granted to Mr. Yitzhak Nissan, as described in the Proxy Statement;</div>
              </td>
            </tr>

        </table>
        <div style="line-height: 1.25">&#160;</div>
        <table cellspacing="0" cellpadding="0" id="zc30daf7671144f8393b8d17aa4205992" class="DSPFListTable" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

            <tr>
              <td style="width: 22.5pt;"><br>
              </td>
              <td style="width: 36pt; vertical-align: top; align: right;">6.</td>
              <td style="width: auto; vertical-align: top; text-align: justify;">
                <div>To approve the amendment to the terms of employment of the Company&#8217;s CEO, Mr. Eli Yaffe, as described in the Proxy Statement;</div>
              </td>
            </tr>

        </table>
        <div style="line-height: 1.25">&#160;</div>
        <table cellspacing="0" cellpadding="0" id="z10981fc40dc74306be58be8c17c4e91a" class="DSPFListTable" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

            <tr>
              <td style="width: 22.5pt;"><br>
              </td>
              <td style="width: 36pt; vertical-align: top; align: right;">7.</td>
              <td style="width: auto; vertical-align: top; text-align: justify;">
                <div>To ratify and approve the performance bonus granted to the Company&#8217;s CEO, Mr. Eli Yaffe, for the year 2021, as described in the Proxy Statement;</div>
              </td>
            </tr>

        </table>
        <div style="line-height: 1.25">&#160;</div>
        <table cellspacing="0" cellpadding="0" id="z547361243dca4fca9524183008835bea" class="DSPFListTable" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

            <tr>
              <td style="width: 22.5pt;"><br>
              </td>
              <td style="width: 36pt; vertical-align: top; align: right;">8.</td>
              <td style="width: auto; vertical-align: top; text-align: justify;">
                <div>To re-appoint Brightman Almagor Zohar &amp; Co., a firm in the Deloitte Global Network, as the Company&#8217;s independent auditors for the year ending December 31, 2022 and for such additional period until the next annual general meeting of
                  shareholders, and to authorize the Company&#8217;s Board of Directors to approve their compensation;</div>
              </td>
            </tr>

        </table>
        <div style="line-height: 1.25">&#160;</div>
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            <tr>
              <td style="width: 22.5pt;"><br>
              </td>
              <td style="width: 36pt; vertical-align: top; align: right;">9.</td>
              <td style="width: auto; vertical-align: top; text-align: justify;">
                <div>To review the Auditor&#8217;s Report and the Company&#8217;s Consolidated Financial Statements for the fiscal year ended December 31, 2021.</div>
              </td>
            </tr>

        </table>
        <div style="line-height: 1.25">&#160;</div>
        <div style="text-align: justify; text-indent: 36pt; line-height: 1.25;">A proxy card for use at the Meeting and a return envelope for the proxy card are enclosed. By signing the proxy card, shareholders may vote their shares at the Meeting whether
          or not they attend. Upon the receipt of a properly signed and dated proxy card in the form enclosed, the shares represented thereby will be voted in accordance with the instructions of the Shareholder indicated thereon. The Company knows of no
          other matters to be submitted at the Meeting other than as specified in the Notice enclosed with this Proxy Statement. Shares represented by executed and unrevoked proxies will be voted. On all matters considered at the Meeting, abstentions and
          broker non-votes will not be treated as either a vote &#8220;for&#8221; or &#8220;against&#8221; the matter, although they will be counted to determine if a quorum is present.</div>
        <div style="line-height: 1.25">&#160;</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>
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        <!--PROfilePageNumberReset%Num%2%%%-->
        <div style="text-align: justify; text-indent: 36pt; line-height: 1.25;">The proxy solicited hereby may be revoked at any time prior to its exercise, by the substitution with a new proxy bearing a later date or by a request for the return of the
          proxy at the Meeting. All proxy instruments and powers of attorney must be delivered to the Company or its Transfer Agent no later than 48 hours prior to the Meeting.</div>
        <div style="line-height: 1.25">&#160;</div>
        <div style="text-align: justify; text-indent: 36pt; line-height: 1.25;">The Company expects to mail this Proxy Statement and the enclosed form of proxy card to shareholders on or about August 3, 2022. All expenses of this solicitation will be borne
          by the Company. In addition to the solicitation of proxies by mail, directors, officers and employees of the Company, without receiving additional compensation therefore, may solicit proxies by telephone, facsimile, in person or by other means.
          Brokerage firms, nominees, fiduciaries and other custodians have been requested to forward proxy solicitation materials to the beneficial owners of shares of the Company held of record by such persons, and the Company will reimburse such
          brokerage firms, nominees, fiduciaries and other custodians for reasonable out-of-pocket expenses incurred by them in connection therewith.</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;">Shareholders Entitled to Vote</font>.</div>
        <div style="line-height: 1.25">&#160;</div>
        <div style="text-align: justify; text-indent: 36pt; line-height: 1.25;">Only holders of record of Ordinary Shares at the close of business on July 29, 2022 are entitled to notice of and to vote at the Meeting. The Company had 5,849,678 Ordinary
          Shares issued and outstanding on July 26, 2022, each of which is entitled to one vote on each matter to be voted on at the Meeting. The Company&#8217;s Amended and Restated Articles of Association do not provide for cumulative voting for the election
          of the directors or for any other purpose. The presence, in person or by proxy, of at least two shareholders of record holding at least a third (33&#8531;%)<font style="font-weight: bold;">&#160;</font>of the voting rights, will constitute a quorum at the
          Meeting.</div>
        <div style="line-height: 1.25">&#160;</div>
        <div style="text-align: justify; text-indent: 36pt; line-height: 1.25;">Only holders of record of our ordinary as of the close of business on July 29, 2022 are entitled to notice of, and to vote at the Meeting.&#160; Shareholders can vote their Ordinary
          Shares at the Meeting in person or by proxy:</div>
        <div style="line-height: 1.25">&#160;</div>
        <table cellspacing="0" cellpadding="0" id="z4c6574e2f5164dd9bc5870a9c120d57b" 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;">&#8226;</td>
              <td style="width: auto; vertical-align: top; text-align: justify;">
                <div><font style="font-weight: bold;">Voting in Person</font>. If your shares are registered directly in your name with our transfer agent (i.e. you are a &#8220;registered shareholder&#8221;), you may attend and vote in person at the Meeting. If you
                  are a beneficial owner of shares registered in the name of your broker, bank, trustee or nominee (i.e. your shares are held in &#8220;street name&#8221;), you are also invited to attend the Meeting; <font style="font-style: italic;">however</font>,
                  in order to vote in person at the Meeting as a beneficial owner, you must first obtain a &#8220;legal proxy&#8221; from your broker, bank, trustee or nominee, as the case may be, authorizing you to do so.</div>
              </td>
            </tr>

        </table>
        <div style="line-height: 1.25">&#160;</div>
        <table cellspacing="0" cellpadding="0" id="z15774087507c4907b7bbbf0ffeab654d" 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;">&#8226;</td>
              <td style="width: auto; vertical-align: top; text-align: justify;">
                <div><font style="font-weight: bold;">Voting by Proxy.</font> You may submit your proxy by mail by completing, signing and mailing the enclosed proxy card in the enclosed, postage-paid envelope, or, for shares held in street name, by
                  following the voting instructions provided by your broker, bank, trustee or nominee. The proxy must be received by our transfer agent or at our registered office in Israel by no later than 10 a.m. Israel time, on August 29, 2022, to be
                  validly included in the tally of Ordinary Shares voted at the Meeting. Upon the receipt of a properly signed and dated proxy in the form enclosed, the persons named as proxies therein will vote the Ordinary Shares represented thereby in
                  accordance with the instructions of the Shareholder indicated thereon, or, if no direction is indicated, in accordance with the recommendations of the Company&#8217;s<font style="font-weight: bold;">&#160;</font>Board of Directors.</div>
              </td>
            </tr>

        </table>
        <div style="line-height: 1.25">&#160;</div>
        <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" id="DSPFPageBreakArea">
          <div style="text-align: center;" id="DSPFPageNumberArea"><font style="font-family: 'Times New Roman',Times,serif; font-weight: normal; font-style: normal;" id="DSPFPageNumber">2</font></div>
          <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="text-align: justify; text-indent: 36pt; line-height: 1.25;"><font style="font-weight: bold;">Votes Required</font>.</div>
        <div style="line-height: 1.25">&#160;</div>
        <div style="text-align: justify; text-indent: 36pt; line-height: 1.25; font-weight: bold;">When voting, Israeli law requires that you indicate whether you are a &#8220;Controlling Shareholder&#8221;, a senior officer of the Company, an Israeli Institutional
          Investor or none of the foregoing, otherwise none of your votes will be counted.</div>
        <div style="line-height: 1.25">&#160;</div>
        <div style="text-align: justify; text-indent: 36pt; line-height: 1.25; font-weight: bold;">There will be a place on the proxy card to indicate such.</div>
        <div style="line-height: 1.25">&#160;</div>
        <div style="line-height: 1.25;">
          <div style="text-align: justify; text-indent: 36pt; line-height: 1.25;">Items 1 and 8 are ordinary resolutions, which require the affirmative vote of a majority of the Ordinary Shares voted in person or by proxy at the Meeting on the matter
            presented for passage. The votes of all shareholders voting on the matter will be counted.</div>
          <div style="line-height: 1.25">&#160;</div>
        </div>
        <div style="text-align: justify; text-indent: 36pt; line-height: 1.25;">Items 2 to 7 are special resolutions, which are submitted for&#160;Shareholder approval, following approval of each of (i) the Company&#8217;s Audit Committee or Compensation Committee,
          as applicable, and (ii) the Company&#8217;s Board of Directors. Shareholder approval requires the affirmative vote of a majority of the shares present, in person or by proxy, and voting on the matter, <font style="font-style: italic;">provided</font>
          that either (i) at least a majority of the voted shares by shareholders who are not Controlling Shareholders and who do not have a Personal Interest in the proposed resolution, are voted in favor thereof; or (ii) the total number of shares of
          shareholders who are not Controlling Shareholders and who do not have a Personal Interest in the proposed resolution, which are voted against it, does not exceed two percent (2%) of the outstanding voting power in the Company.</div>
        <div style="line-height: 1.25">&#160;</div>
        <div style="text-align: justify; text-indent: 36pt; line-height: 1.25;">Generally, an act or transaction with the Controlling Shareholder or in which a Controlling Shareholder has a Personal Interest (as defined below) requires Shareholder approval
          every three (3) years.</div>
        <div style="line-height: 1.25">&#160;</div>
        <div style="text-align: justify; text-indent: 36pt; line-height: 1.25;">&#8220;<u>Controlling Shareholder</u>&#8221; for the purpose of this notice means a person or entity that has the ability to direct the acts of the Company.&#160;For Items 2, 6, and 7, any
          person holding fifty percent (50%) or more of the voting power of the Company or of the rights to appoint directors or the Chief Executive Officer is considered a controlling shareholder,&#160;and as for Items 3, 4 and 5, any person holding twenty
          five percent (25%) or more of the voting power of the Company, provided that no other person holds fifty percent (50%) or more of the voting power of the Company, or of the rights to appoint directors or the Chief Executive Officer, is considered
          a Controlling shareholder.</div>
        <div style="line-height: 1.25">&#160;</div>
        <div style="text-align: justify; text-indent: 36pt; line-height: 1.25;">A &#8220;<u>Personal Interest</u>&#8221; means a shareholder&#8217;s personal interest in the approval of an act or a transaction of the Company, including (i) the personal interest of such
          Shareholder&#8217;s relative (which includes any members of his/her (or his/her spouse&#8217;s) immediate family or the spouses of any such members of his or her (or his/her spouse&#8217;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 directors or the
          chief executive officer, but excluding a personal interest arising solely from holding of shares in the Company or in a body corporate. In addition, under the Companies Law, 5759-1999 (the &#8220;<u>Companies Law</u>&#8221;) in case of a person voting by
          proxy for another person, a &#8220;Personal Interest&#8221; includes the personal interest of either the proxy holder or the Shareholder granting the proxy, whether the proxy holder has discretion to vote or not.</div>
        <div style="line-height: 1.25">&#160;</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 the enclosed Proxy Card is requested to indicate if he, she or it is a Controlling Shareholder, has a
          Personal Interest, is a senior officer in the Company and/or an Israeli Institutional Investor, in connection with a certain proposal. If any shareholder casting a vote in connection hereto does not explicitly indicate on the proxy card that he,
          she or it is or is not a Controlling Shareholder, has, or does not have, a Personal Interest with respect to a certain proposal, is or is not a Senior Officer and/or an Israeli Institutional Investor, then the vote on the applicable item will not
          be counted.</div>
        <div style="line-height: 1.25">&#160;</div>
        <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" id="DSPFPageBreakArea">
          <div style="text-align: center;" id="DSPFPageNumberArea"><font style="font-weight: normal; font-style: normal;" id="DSPFPageNumber">3</font></div>
          <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="text-align: justify; text-indent: 36pt; line-height: 1.25;">&#8220;<u>Institutional Investor</u>&#8221; for the purposes of this Proxy Statement applies only to Israeli entities, and means as defined in Section 1 of the Supervision of Financial
          Services Regulations (Provident Funds) (Participation of a Managing Company at a General Meeting), 5769-2009, as well as a managing company of a Joint Investment Trust Fund, as defined in the Joint Investment Trust Law, 5754-1994.</div>
        <div style="line-height: 1.25">&#160;</div>
        <div style="text-align: justify; text-indent: 36pt; line-height: 1.25;">The review of our audited Consolidated Financial Statements for the fiscal year ended December 31, 2021 described under Item 9 does not involve a vote of our shareholders.</div>
        <div style="line-height: 1.25">&#160;</div>
        <div style="margin-left: 36pt; line-height: 1.25; font-weight: bold;">Security Ownership of Certain Beneficial Owners and Management.</div>
        <div style="line-height: 1.25">&#160;</div>
        <div style="text-align: justify; text-indent: 36pt; line-height: 1.25;">The following table sets forth, as of July 26, 2022, to the best of the Company&#8217;s knowledge, information as to each person known to the Company to be the beneficial owner of
          more than five percent (5%) of the Company&#8217;s outstanding Ordinary Shares. Except where indicated, to the best of the Company&#8217;s knowledge, based on information provided by the owners, the beneficial owners of the shares listed below have sole
          investment and voting power with respect to those shares. Applicable percentage ownership in the following table is based on 5,849,678 Ordinary Shares outstanding as of July 26, 2022.</div>
        <div style="line-height: 1.25">&#160;</div>
        <div style="text-align: justify; text-indent: 36pt; line-height: 1.25;">The Shareholders&#8217; holdings reflect their voting rights. The Company&#8217;s principal shareholders do not have different voting rights than other Shareholders, with respect to their
          shares.</div>
        <div style="line-height: 1.25">&#160;</div>
        <div style="margin-left: 36pt;">
          <table cellspacing="0" cellpadding="3" border="0" id="z5cd448b1d5d44454b0f152c75cbcfb22" style="width: 90%; color: rgb(0, 0, 0); font-family: 'Times New Roman',Times,serif; font-size: 10pt; text-align: left;">

              <tr>
                <td style="width: 33%; vertical-align: top; border-top: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0);">
                  <div style="line-height: 1.25; font-family: 'Times New Roman', Times, serif; font-weight: bold;">Name</div>
                </td>
                <td style="width: 33%; 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;">Number of Ordinary Shares Beneficially Owned<sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">(1)</sup></div>
                </td>
                <td style="width: 33%; 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;">
                    <div style="text-align: center; line-height: 1.25; font-family: 'Times New Roman', Times, serif; font-weight: bold;">Percentage of Ownership <sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">(2)</sup></div>
                  </div>
                </td>
              </tr>
              <tr>
                <td style="width: 33%; vertical-align: middle; border-top: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0);">
                  <div style="line-height: 1.25; font-family: 'Times New Roman', Times, serif;">Yitzhak Nissan<sup style="font-weight: bold; vertical-align: text-top; line-height: 1; font-size: smaller;">(3)</sup></div>
                </td>
                <td style="width: 33%; 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;">174,316</div>
                </td>
                <td style="width: 33%; 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);">
                  <div style="text-align: center; line-height: 1.25; font-family: 'Times New Roman', Times, serif;">2.98%</div>
                </td>
              </tr>
              <tr>
                <td style="width: 33%; vertical-align: middle; 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="line-height: 1.25; font-family: 'Times New Roman', Times, serif;">Nistec Golan Ltd.<sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">&#160;</sup><sup style="font-weight: bold; vertical-align: text-top; line-height: 1; font-size: smaller;">(3)</sup></div>
                </td>
                <td style="width: 33%; vertical-align: middle; 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;">3,891,596</div>
                </td>
                <td style="width: 33%; vertical-align: middle; 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;">66.53%</div>
                </td>
              </tr>

          </table>
        </div>
        <div style="line-height: 1.25;"><br style="line-height: 1.25;">
        </div>
        <table cellspacing="0" cellpadding="0" id="z5f6f245b8df14f18b52df5143a63d9cd" class="DSPFListTable" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

            <tr>
              <td style="width: 35.85pt;"><br>
              </td>
              <td style="width: 17.85pt; vertical-align: top; align: right;"><sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">(1)</sup></td>
              <td style="width: auto; vertical-align: top; text-align: justify;">
                <div>Beneficial ownership is determined in accordance with the rules of the SEC and generally includes voting or investment power with respect to securities. Ordinary Shares relating to options or convertible notes currently exercisable or
                  exercisable within 60 days of the date of this table are deemed outstanding for computing the percentage of the person holding such securities but are not deemed outstanding for computing the percentage of any other person. Except as
                  indicated by footnote, and subject to community property laws where applicable, the persons named in the table above have sole voting and investment power with respect to all shares shown as beneficially owned by them.</div>
              </td>
            </tr>

        </table>
        <div style="line-height: 1.25">&#160;</div>
        <table cellspacing="0" cellpadding="0" id="z14a63cb54d8b45f893c07cf67a9eacb6" class="DSPFListTable" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

            <tr>
              <td style="width: 35.85pt;"><br>
              </td>
              <td style="width: 17.85pt; vertical-align: top; align: right;"><sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">(2)</sup></td>
              <td style="width: auto; vertical-align: top; text-align: justify;">
                <div>The percentages shown are based on 5,849,678 Ordinary Shares issued and outstanding as of July 26, 2022.</div>
              </td>
            </tr>

        </table>
        <div style="line-height: 1.25">&#160;</div>
        <table cellspacing="0" cellpadding="0" id="z0e247d15321e4816b209fc7d378f2873" class="DSPFListTable" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

            <tr>
              <td style="width: 36pt;"><br>
              </td>
              <td style="width: 18pt; vertical-align: top; align: right;"><sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">(3)</sup></td>
              <td style="width: auto; vertical-align: top; text-align: justify;">
                <div>Nistec Golan Ltd. is an Israeli private company controlled by Yitzhak Nissan. Accordingly, Mr. Nissan may be deemed to be the beneficial owner of the Ordinary Shares held directly by Nistec Ltd.</div>
              </td>
            </tr>

        </table>
        <div style="line-height: 1.25">&#160;</div>
        <div style="text-indent: 24pt; line-height: 1.25; font-weight: bold;">Terms of Service and Employment of Executive Officers and Directors.</div>
        <div style="line-height: 1.25">&#160;</div>
        <div style="text-align: justify; text-indent: 24pt; line-height: 1.25;">For information relating to the compensation of our named executive office holders during or with respect to the year ended December 31, 2021, please see &#8220;Item 6. Directors,
          Senior Management and Employees &#8212; B. Compensation&#8221; in our Annual Report on Form 20-F for the year ended December 31, 2021, which was filed with the U.S. Securities and Exchange Commission (&#8220;<u>SEC</u>&#8221;) on March 23, 2022.</div>
        <div style="line-height: 1.25">&#160;</div>
        <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" id="DSPFPageBreakArea">
          <div style="text-align: center;" id="DSPFPageNumberArea"><font style="font-weight: normal; font-style: normal;" id="DSPFPageNumber">4</font></div>
          <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; font-weight: bold; text-align: center;">1.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; ELECTION OF DIRECTORS</div>
        <div style="line-height: 1.25">&#160;</div>
        <div style="text-align: center; text-indent: -28.35pt; margin-right: 0.7pt; margin-left: 28.35pt; line-height: 1.25;">(Item 1 on the Proxy Card)</div>
        <div style="line-height: 1.25">&#160;</div>
        <div style="text-align: justify; text-indent: 36pt; line-height: 1.25;">At the Meeting, our shareholders are requested to re-elect a slate of four (4) directors to serve on the Company&#8217;s Board of Directors. Messrs. Yitzhak Nissan, Mordechai
          Marmorstein, David Rubner and Erez Meltzer have been nominated for re-election. Pursuant to the Company&#8217;s Amended and Restated Articles of Association, the number of directors in the Company (including the two (2) external directors) will be no
          less than three (3) nor more than nine (9), until otherwise prescribed by a resolution of the Shareholders. The two external directors will continue in office until the ends of their three-year terms in accordance with the Companies Law.</div>
        <div style="line-height: 1.25">&#160;</div>
        <div style="text-align: justify; text-indent: 36pt; line-height: 1.25;">The Companies Law provides that a nominee for a position of a director will have declared to the Company that he or she complies with the qualifications prescribed by the
          Companies Law for appointment as a director or as an independent director, if applicable. All of the proposed nominees have declared to the Company that they comply with such applicable qualifications.</div>
        <div style="line-height: 1.25">&#160;</div>
        <div style="text-align: justify; text-indent: 36pt; line-height: 1.25;">The Company's Audit Committee and Board of Directors approved that Mordechai Marmorstein has the accounting and financial expertise required under the Companies Law in order to
          serve as an independent director, and therefor Mr. Marmorstein is elected as an independent director.</div>
        <div style="line-height: 1.25">&#160;</div>
        <div style="text-align: justify; text-indent: 36pt; line-height: 1.25;">The four (4) nominees named in this Item 1, if elected, will each hold office until the next annual general meeting of shareholders and until their respective successors are
          duly elected and qualified, unless any office is vacated earlier. The Company is unaware of any reason why any nominee, if elected, should be unable to serve as a director. All nominees listed below have advised Company&#8217;s the Board of Directors
          that they intend to serve as directors if elected.</div>
        <div style="line-height: 1.25">&#160;</div>
        <div style="text-align: justify; line-height: 1.25; font-weight: bold;">Nominees for 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;">Set forth below is information about each nominee, including age, position(s) held with the Company, principal occupation, business history and other directorships held.</div>
        <div style="line-height: 1.25">&#160;</div>
        <table cellspacing="0" cellpadding="3" border="0" align="center" id="z5ec25029ecc54eadab45ac0608cfdc4d" style="width: 70%; color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; text-align: left;">

            <tr>
              <td style="width: 40.48%; 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-weight: bold;">Name</div>
              </td>
              <td style="width: 9.3%; 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-weight: bold;">Age</div>
              </td>
              <td style="width: 50.22%; 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: justify; line-height: 1.25; font-weight: bold;">Position</div>
              </td>
            </tr>
            <tr>
              <td style="width: 40.48%; vertical-align: top; border-top: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0);">
                <div style="line-height: 1.25;">Mr. Yitzhak Nissan</div>
              </td>
              <td style="width: 9.3%; 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;">72</div>
              </td>
              <td style="width: 50.22%; 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: justify; line-height: 1.25;">Chairman of the Board of Directors</div>
              </td>
            </tr>
            <tr>
              <td style="width: 40.48%; 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;">Mordechai Marmorstein</div>
              </td>
              <td style="width: 9.3%; 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;">75</div>
              </td>
              <td style="width: 50.22%; 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: justify; line-height: 1.25;">Director</div>
              </td>
            </tr>
            <tr>
              <td style="width: 40.48%; 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;">David Rubner</div>
              </td>
              <td style="width: 9.3%; 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;">82</div>
              </td>
              <td style="width: 50.22%; 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: justify; line-height: 1.25;">Director</div>
              </td>
            </tr>
            <tr>
              <td style="width: 40.48%; 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: justify; line-height: 1.25;">Erez Meltzer</div>
              </td>
              <td style="width: 9.3%; 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: justify; line-height: 1.25;">64</div>
              </td>
              <td style="width: 50.22%; vertical-align: top; border-width: 1px; border-style: solid; border-color: rgb(0, 0, 0);">
                <div style="text-align: justify; line-height: 1.25;">Director</div>
              </td>
            </tr>

        </table>
        <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;"><font style="font-weight: bold;">Yitzhak Nissan</font> has served as the Chairman of the Company&#8217;s Board of Directors since November 2013 and is a member of our Banking
          Committee. He served as our chief executive officer from October 2014 until July 2018. Mr. Nissan is the founder of Nistec Group and has served as its chief executive officer since 1985. Mr. Nissan served as a Presiding Member of ILTAM (Israeli
          Users&#8217; Association of Advanced Technologies in Hi-Tech Integrated Systems) between 2008 and 2009 and as a Presiding Member of the Israeli Association of Electronics and Software Industries since 2012. Mr. Nissan also established the VPs
          Operations Forum, which brings thought leadership to 200 VPs of operations from diverse hi-tech companies in Israel. In 2008, Mr. Nissan received the Distinguished Industry Award from the mayor of Petach Tikva Municipality. In 2019 Mr. Nissan was
          awarded a &#8220;notable person&#8221; award by the city of Petach Tikva. Mr. Nissan holds a B.Sc. degree in Electronic Engineering from the University of Buffalo, New York.</div>
        <div style="line-height: 1.25">&#160;</div>
        <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" id="DSPFPageBreakArea">
          <div style="text-align: center;" id="DSPFPageNumberArea"><font style="font-weight: normal; font-style: normal;" id="DSPFPageNumber">5</font></div>
          <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: justify; text-indent: 36pt; line-height: 1.25;"><font style="font-weight: bold;">Dr. Mordechai Marmorstein</font> has served on the Company&#8217;s Board of Directors since October 2013 and is a member of its Audit and
          Compensation Committees. From 1992 to 2001, Dr. Marmorstein was the chief financial officer of Pazchim Co. Ltd. Dr. Marmorstein was also an internal auditor and accountant at Negev Phosphate Works. Dr. Marmorstein served as the chairman of Teshet
          (Tourist Enterprises and Aviation Services Co. Ltd.), a subsidiary of El-Al, the Israeli national airline, from 1999 to 2000. Dr. Marmorstein holds a B.A. degree in Economics, an M.A. degree in Contemporary Jewry Studies and a Ph.D. in Jewish
          History Studies, all from Bar-Ilan University.</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;">David Rubner</font> was elected to serve on the Company&#8217;s Board of Directors in October 2013. Mr. Rubner has served as the chairman and chief
          executive officer of Rubner Technology Ventures Ltd. and as a partner in Hyperion Israel Advisors Ltd., a venture capital firm since 2000. During the years 1991 to 2000, he was the president and chief executive officer of ECI Telecom Ltd. Mr.
          Rubner serves on the board of directors of TeleMessage Ltd. and several private companies. He also serves on the boards of trustees and executive council of Shaare Zedek Hospital and Jerusalem College of Technology. Mr. Rubner holds a B.Sc.
          degree in engineering from Queen Mary College, University of London and an M.S. degree from Carnegie Mellon University.</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;">Erez Meltzer </font>has served as a director since 2009 including as the Chairman of the Company&#8217;s Board of Directors from 2011 to 2013. Mr.
          Meltzer was the executive chairman of Hadassah Medical Center until the end of 2020. Mr. Meltzer also serves as a director of Ericom Software Ltd., Hadasit Bio Holding (HBL) Ltd., GEM Pharma Ltd., Nano-x Imaging Ltd., Plantis Pharma Ltd.,
          Supplant Ltd., Tevel Aerobotics Technologies Ltd., Smart Agro LP. and Rivulis Plastro Ltd. From 2008 to 2013, Mr. Meltzer served as the chief executive officer of Gadot Chemical Tankers &amp; Terminals Ltd; from 2006 to 2007, as the chief
          executive officer of Africa Israel Group; from 2002 to 2006, as the president and chief executive officer of Netafim Ltd; and from 1999 to 2001, as the president and chief executive officer of CreoScitex. Mr. Meltzer served as a colonel in the
          Israeli Defense Forces &#8211; Armored Corps (reserve). Mr. Meltzer has served as the Chairman of the Lowenstein Hospital Friends Association since 1999 and is the honorary chairman of the Israeli Chapter of YPO (the Young Presidents Organization). Mr.
          Meltzer studied Economics and Business at the Hebrew University of Jerusalem and Boston University and is a graduate of the Advanced Management Program at Harvard Business School.</div>
        <div style="line-height: 1.25">&#160;</div>
        <div style="text-align: justify; text-indent: 36pt; line-height: 1.25;">Each director (<font style="font-style: italic;">excluding</font> Mr. Nissan) is entitled to director&#8217;s insurance, an indemnification agreement, and exculpation letter, as may
          be approved by the Company from time to time. In addition, each director (<font style="font-style: italic;">excluding</font> Mr. Nissan) is entitled to monetary compensation as provided in the &#8220;Permanent Amount&#8221; criteria of the Companies
          Regulations (Rules Regarding Compensation and Expenses for External Directors), 5760-2000 (the &#8220;<u>Companies Regulations</u>&#8221;). Each director is otherwise prohibited from receiving any other compensation, directly or indirectly, in connection
          with his service to the Company.</div>
        <div style="line-height: 1.25">&#160;</div>
        <div style="text-align: justify; text-indent: 36pt; line-height: 1.25;">Mr. Nissan is entitled to director&#8217;s insurance (as may be approved by the Company from time to time), an indemnification agreement, and subject to the Shareholders&#8217; approval of
          Items 3 and 44, will continue to be respectively entitled, to an exculpation letter and to monetary compensation, as set forth in the Amended Management Agreement with Nistec Ltd., all as described in this Proxy Statement.</div>
        <div style="line-height: 1.25">&#160;</div>
        <div style="line-height: 1.25;">
          <div style="line-height: 1.25; font-style: italic;">Board Diversity</div>
          <div style="line-height: 1.25;">&#160;</div>
        </div>
        <div style="text-align: justify; text-indent: 36pt; line-height: 1.25;">We are dedicated to ensuring equality and diversity in our Company. Our Board of Directors has no specific policy on director diversity. However, the Board reviews diversity of
          viewpoints, background, experience, accomplishments, education and skills when evaluating nominees. In addition, Nasdaq&#8217;s recently adopted Board Diversity Rule is a disclosure standard designed to encourage a minimum board diversity objective for
          companies and provide stakeholders with consistent, comparable disclosures concerning a listed company&#8217;s current board composition. Once the Board Diversity Rule becomes effective in August 2022, a company that is a &#8220;foreign private issuer&#8221; (as
          defined in SEC rules) like Eltek will be required to initially have, or explain why it does not have, at least one director who self-identifies as female, an underrepresented minority or LGBTQ+. Our current board composition is in compliance with
          these requirements. Each term used above and in the matrix below has the meaning given to it in Nasdaq Listing Rule 5605(f). The matrix below provides certain highlights of the composition of our Board members based on self-identification as of</div>
        <div style="line-height: 1.25">&#160;</div>
        <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" id="DSPFPageBreakArea">
          <div style="text-align: center;" id="DSPFPageNumberArea"><font style="font-weight: normal; font-style: normal;" id="DSPFPageNumber">6</font></div>
          <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">&#160;</div>
        <div style="line-height: 1.25; font-style: italic; font-weight: bold;">Diversity of the Board of Directors</div>
        <div style="line-height: 1.25">&#160;</div>
        <div style="text-align: center; line-height: 1.25; font-weight: bold;">Board Diversity Matrix (As of December 31, 2021)</div>
        <div style="text-align: center; line-height: 1.25; font-weight: bold;"> <br>
        </div>
        <table cellspacing="0" cellpadding="3" border="0" id="z80571cd6a9c94c1fbde3854f9337a1a4" style="font-family: 'Times New Roman',Times,serif; font-size: 10pt; width: 100%; text-align: left; color: rgb(0, 0, 0);">

            <tr>
              <td style="width: 52%; vertical-align: bottom; border-top: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0);">
                <div style="margin-left: 1.75pt; line-height: 1.25; font-family: 'Times New Roman', Times, serif;">Country of Principal Executive Offices</div>
              </td>
              <td style="vertical-align: bottom; border-top: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0); border-right: 1px solid rgb(0, 0, 0);" colspan="4">
                <div style="line-height: 1.25; font-family: 'Times New Roman', Times, serif;">Israel</div>
              </td>
            </tr>
            <tr>
              <td style="width: 52%; vertical-align: bottom; border-top: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0);">
                <div style="margin-left: 1.75pt; line-height: 1.25; font-family: 'Times New Roman', Times, serif;">Foreign Private Issuer</div>
              </td>
              <td style="vertical-align: bottom; border-top: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0); border-right: 1px solid rgb(0, 0, 0);" colspan="4">
                <div style="line-height: 1.25; font-family: 'Times New Roman', Times, serif;">Yes</div>
              </td>
            </tr>
            <tr>
              <td style="width: 52%; vertical-align: bottom; border-top: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0);">
                <div style="margin-left: 1.75pt; line-height: 1.25; font-family: 'Times New Roman', Times, serif;">Disclosure Prohibited under Home Country Law</div>
              </td>
              <td style="vertical-align: bottom; border-top: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0); border-right: 1px solid rgb(0, 0, 0);" colspan="4">
                <div style="line-height: 1.25; font-family: 'Times New Roman', Times, serif;">No</div>
              </td>
            </tr>
            <tr>
              <td style="width: 52%; vertical-align: bottom; border-top: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0);">
                <div style="margin-left: 1.75pt; line-height: 1.25; font-family: 'Times New Roman', Times, serif;">Total Number of Directors</div>
              </td>
              <td style="vertical-align: bottom; border-top: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0); border-right: 1px solid rgb(0, 0, 0);" colspan="4">
                <div style="line-height: 1.25; font-family: 'Times New Roman', Times, serif;">6</div>
              </td>
            </tr>
            <tr>
              <td style="width: 52%; vertical-align: bottom; border-top: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0);">
                <div style="margin-left: 1.75pt; line-height: 1.25; font-family: 'Times New Roman', Times, serif; font-weight: bold;">Part I: Gender Identity</div>
              </td>
              <td style="width: 12%; vertical-align: bottom; 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;">Female</div>
              </td>
              <td style="width: 12%; vertical-align: bottom; 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;">Male</div>
              </td>
              <td style="width: 12%; vertical-align: bottom; 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;">Non-Binary</div>
              </td>
              <td style="width: 12%; vertical-align: bottom; 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;">Did Not Disclose&#8194;</div>
                <div style="text-align: center; line-height: 1.25; font-family: 'Times New Roman', Times, serif; font-weight: bold;">Gender</div>
              </td>
            </tr>
            <tr>
              <td style="width: 52%; vertical-align: bottom; border-top: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0);">
                <div style="margin-left: 1.75pt; line-height: 1.25; font-family: 'Times New Roman', Times, serif;">Directors</div>
              </td>
              <td style="width: 12%; vertical-align: bottom; 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;">1</div>
              </td>
              <td style="width: 12%; vertical-align: bottom; 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;">5</div>
              </td>
              <td style="width: 12%; vertical-align: bottom; 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;">0</div>
              </td>
              <td style="width: 12%; vertical-align: bottom; 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;">0</div>
              </td>
            </tr>
            <tr>
              <td style="width: 52%; vertical-align: bottom; border-top: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0);">
                <div style="margin-left: 1.75pt; line-height: 1.25; font-family: 'Times New Roman', Times, serif; font-weight: bold;">Part II: Demographic Background</div>
              </td>
              <td style="vertical-align: bottom; background-color: rgb(173, 173, 173); border-top: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0); border-right: 1px solid rgb(0, 0, 0);" colspan="4">
                <div style="text-align: center; line-height: 1.25; font-family: 'Times New Roman', Times, serif;">&#8195;</div>
              </td>
            </tr>
            <tr>
              <td style="width: 52%; vertical-align: bottom; border-top: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0);">
                <div style="margin-left: 1.75pt; line-height: 1.25; font-family: 'Times New Roman', Times, serif;">Underrepresented Individual in Home Country Jurisdiction</div>
              </td>
              <td style="vertical-align: bottom; border-top: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0); border-right: 1px solid rgb(0, 0, 0);" colspan="4">
                <div style="text-align: center; line-height: 1.25; font-family: 'Times New Roman', Times, serif;">0</div>
              </td>
            </tr>
            <tr>
              <td style="width: 52%; vertical-align: bottom; border-top: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0);">
                <div style="margin-left: 1.75pt; line-height: 1.25; font-family: 'Times New Roman', Times, serif;">LGBTQ+</div>
              </td>
              <td style="vertical-align: bottom; border-top: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0); border-right: 1px solid rgb(0, 0, 0);" colspan="4">
                <div style="text-align: center; line-height: 1.25; font-family: 'Times New Roman', Times, serif;">0</div>
              </td>
            </tr>
            <tr>
              <td style="width: 52%; vertical-align: bottom; 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="margin-left: 1.75pt; line-height: 1.25; font-family: 'Times New Roman', Times, serif;">Did Not Disclose Demographic Background</div>
              </td>
              <td style="vertical-align: bottom; border-width: 1px; border-style: solid; border-color: rgb(0, 0, 0);" colspan="4">
                <div style="text-align: center; line-height: 1.25; font-family: 'Times New Roman', Times, serif;">6</div>
              </td>
            </tr>

        </table>
        <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; font-weight: bold;">The Company&#8217;s Board of Directors recommends a vote FOR the election of each nominee for director named above to the Company&#8217;s Board of Directors, until the
          next annual general meeting of shareholders and until his or her successor has been duly elected and qualified, without modification of terms of office.</div>
        <div style="line-height: 1.25">&#160;</div>
        <div style="text-align: justify; text-indent: 36pt; line-height: 1.25; font-weight: bold;">Vote Required</div>
        <div style="line-height: 1.25">&#160;</div>
        <div style="text-align: justify; text-indent: 36pt; line-height: 1.25;">The affirmative vote of the holders of a majority of the voting power represented at the Meeting in person or by proxy is necessary for the re-election of each of the nominees.</div>
        <div style="line-height: 1.25">&#160;</div>
        <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" id="DSPFPageBreakArea">
          <div style="text-align: center;" id="DSPFPageNumberArea"><font style="font-weight: normal; font-style: normal;" id="DSPFPageNumber">7</font></div>
          <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;"><font style="font-family: 'Times New Roman',Times,serif; font-weight: bold;">2.</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-family: 'Times New Roman',Times,serif; font-weight: bold;">APPROVAL OF AMENDED AND
            RESTATED COMPENSATION POLICY</font></div>
        <div style="line-height: 1.25">&#160;</div>
        <div style="text-align: center; text-indent: -35.45pt; margin-right: 0.7pt; margin-left: 35.45pt; line-height: 1.25;">(Item 2 on the Proxy Card)</div>
        <div style="line-height: 1.25">&#160;</div>
        <div style="line-height: 1.25;">
          <div style="text-align: justify; text-indent: 36pt; line-height: 1.25;">As required of public companies under the Companies Law, in January 2014, the Company adopted a compensation policy, setting forth the principles that govern the term of
            office and employment of the Company&#8217;s &#8220;office holders&#8221;, as defined in the Companies Law. Under the terms of the Companies Law, any amendment to a public company&#8217;s compensation policy requires its shareholders&#8217; approval. In December 2016, our
            shareholders approved a new compensation policy for the Company, which was later amended in September 2018 and in December 2019 (the &#8220;<u>Amended Compensation Policy</u>&#8221;). Our shareholders are requested to approve the following amendments to
            the Amended Compensation Policy:</div>
          <div style="line-height: 1.25">&#160;</div>
        </div>
        <div style="line-height: 1.25;">
          <table cellspacing="0" cellpadding="0" id="z07bec43f747d4e53806a64e548a4b267" class="DSPFListTable" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

              <tr>
                <td style="width: 36pt;"><br>
                </td>
                <td style="width: 18pt; vertical-align: top; align: right;">&#8226;</td>
                <td style="width: auto; vertical-align: top; text-align: justify;">
                  <div>Section 1.8.1 (<font style="font-style: italic;">Effect</font>): the amendments to the Amended Compensation Policy shall come into effect on September 1, 2022.</div>
                </td>
              </tr>

          </table>
          <div style="line-height: 1.25">&#160;</div>
          <table cellspacing="0" cellpadding="0" id="z5a6f2d5e5cec497287c013ff440413f6" class="DSPFListTable" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

              <tr>
                <td style="width: 36pt;"><br>
                </td>
                <td style="width: 18pt; vertical-align: top; align: right;">&#8226;</td>
                <td style="width: auto; vertical-align: top; text-align: justify;">
                  <div>Section 3.2 (<font style="font-style: italic;">Maximum monthly base salary</font>): Maximum monthly base salary of the Company's chief executive officer shall be increased, by incremental allowance (&#8220;<font style="font-style: italic;">Tosefet


                      Yoker</font>&#8221;) in accordance with provisions of the general collective agreements, and the expansion orders dealing with incremental allowances, as applicable from time to time.</div>
                </td>
              </tr>

          </table>
          <div style="line-height: 1.25">&#160;</div>
          <table cellspacing="0" cellpadding="0" id="zefc85177fad14bf9bfecb80e0f39c265" class="DSPFListTable" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

              <tr>
                <td style="width: 36pt;"><br>
                </td>
                <td style="width: 18pt; vertical-align: top; align: right;">&#8226;</td>
                <td style="width: auto; vertical-align: top; text-align: justify;">
                  <div>Section 3.2 (<font style="font-style: italic;">Company Car</font>): the Car price ceiling for the Company's chief executive officer shall be increased to NIS 300,000, and the ceiling for Deputy CEO, vice presidents and other Officers
                    shall be increased to NIS 220,000.</div>
                </td>
              </tr>

          </table>
          <div style="line-height: 1.25">&#160;</div>
          <table cellspacing="0" cellpadding="0" id="z1fa1cf15b7604eada5af82fff73b6cdf" class="DSPFListTable" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

              <tr>
                <td style="width: 36pt;"><br>
                </td>
                <td style="width: 18pt; vertical-align: top; align: right;">&#8226;</td>
                <td style="width: auto; vertical-align: top; text-align: justify;">
                  <div>Section 5.2 (<font style="font-style: italic;">Annual Bonus Plan</font>): the Company&#8217;s annual bonus plan shall be based on at least one measurable criterion.</div>
                </td>
              </tr>

          </table>
          <div style="line-height: 1.25">&#160;</div>
          <table cellspacing="0" cellpadding="0" id="zd5efa850702e437d951dcd3e3b769217" class="DSPFListTable" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

              <tr>
                <td style="width: 36pt;"><br>
                </td>
                <td style="width: 18pt; vertical-align: top; align: right;">&#8226;</td>
                <td style="width: auto; vertical-align: top; text-align: justify;">
                  <div>Section 10.2.3 (<font style="font-style: italic;">Insurance</font>): the annual premiums and deductibles of the Company&#8217;s directors and officers liability insurance policy shall be determined according to the conditions of the
                    insurance market at such time, as advised by the Company&#8217;s insurance consultants, <font style="font-style: italic;">provided</font> that such annual premiums and deductibles are not material to the Company.</div>
                </td>
              </tr>

          </table>
          <div style="line-height: 1.25">&#160;</div>
        </div>
        <div style="line-height: 1.25;">
          <div style="text-align: justify; text-indent: 36pt; line-height: 1.25;">The brief overview of the amendments above is qualified in its entirety by reference to the full text of the proposed amended and restated Compensation Policy, which is
            attached as <font style="font-weight: bold;"><u>Exhibit A</u></font> hereto, in a form marked against the Amended Compensation Policy, as approved by the shareholders on December 5, 2019 (the &#8220;<u>Amended and Restated Compensation Policy</u>&#8221;).
            On July 26, 2022, the Company&#8217;s Board of Directors, based on the recommendation of the Company&#8217;s Compensation Committee of July 18, 2022, has resolved to approve the Amended and Restated Compensation Policy.</div>
          <div style="line-height: 1.25">&#160;</div>
          <div style="text-align: justify; text-indent: 36pt; line-height: 1.25;">At the Meeting, the Company&#8217;s Board of Directors proposes that the following resolution be adopted:</div>
          <div style="line-height: 1.25">&#160;</div>
          <div style="text-align: justify; text-indent: 36pt; line-height: 1.25;">&#160;&#8220;<font style="font-weight: bold;">RESOLVED</font>, to approve the Amended and Restated Compensation Policy, attached to this Proxy Statement as <font style="font-weight: bold;"><u>Exhibit A</u></font>.&#8221;</div>
          <div style="line-height: 1.25">&#160;</div>
        </div>
        <div style="text-align: justify; text-indent: 36pt; line-height: 1.25; font-weight: bold;">Vote Required</div>
        <div style="line-height: 1.25">&#160;</div>
        <div style="text-align: justify; text-indent: 36pt; line-height: 1.25;">The approval of this Item 2 requires the affirmative vote of a majority of the shares present, in person or by proxy, and voting on this matter, <font style="font-style: italic;">provided</font> that either (i) at least a majority of the shares of shareholders who are not Controlling Shareholders and who do not have a Personal Interest in this resolution, are voted in favor of the resolution; or (ii) the total
          number of shares of shareholders who are not Controlling Shareholders and who do not have a Personal Interest in this resolution, which are voted against it, does not exceed two percent (2%) of the outstanding voting power in the Company.</div>
        <div style="line-height: 1.25">&#160;</div>
        <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" id="DSPFPageBreakArea">
          <div style="text-align: center;" id="DSPFPageNumberArea"><font style="font-weight: normal; font-style: normal;" id="DSPFPageNumber">8</font></div>
          <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>
        </div>
        <div style="line-height: 1.25">
          <div style="font-family: 'Times New Roman',Times,serif; font-weight: bold; text-align: center;">3.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; EXTENSION, AMENDMENT AND RESTATEMENT OF THE AMENDED MANAGEMENT </div>
          <div style="font-family: 'Times New Roman',Times,serif; font-weight: bold; text-align: center;">AGREEMENT BETWEEN THE COMPANY AND NISTEC LTD.</div>
          <div style="font-family: 'Times New Roman',Times,serif; font-weight: bold; text-align: center;"> <br>
          </div>
        </div>
        <div style="line-height: 1.25;">
          <div style="text-align: center; text-indent: -35.45pt; margin-left: 35.45pt; line-height: 1.25;">&#160;(Item 33 on the Proxy Card)</div>
          <div style="line-height: 1.25">&#160;</div>
        </div>
        <div style="line-height: 1.25;">
          <div style="text-align: justify; text-indent: 36pt; line-height: 1.25;">In November 2013, the Company entered into a Management Agreement with Nistec Ltd., then its controlling shareholder. In December 2016, our shareholders approved an extension
            and amendment of the Management Agreement.&#160;In December 2018, Mr.&#160;Yitzhak Nissan, the beneficial owner of&#160;Nistec Ltd., transferred the&#160;shares of the Company held by Nistec Ltd. to Nistec Golan Ltd., a company beneficially held by him.&#160;The
            extension and amendment of the Management Agreement was then approved effective as of January 1, 2019 (the &#8220;<u>Amended Management Agreement</u>&#8221;). In June 2021, our shareholders approved another extension of the Amended Management Agreement for
            a three (3) year period, effective as of January 1, 2022.</div>
          <div style="line-height: 1.25">&#160;</div>
          <div style="text-align: justify; text-indent: 36pt; line-height: 1.25;">&#160;In accordance with the provisions of the Companies Law, an agreement with a company&#8217;s controlling shareholder (whether directly or indirectly), may not exceed three (3)
            years and its renewal for any additional period of up to three (3) years and any amendment of terms, must be approved by the company&#8217;s shareholders. Our shareholders are requested to approve amendment to the terms of the Amended Management
            Agreement, and its renewal under the new terms, effective as of January 1, 2022 (the &#8220;<u>Amended and Restated Management Agreement</u>&#8221;).</div>
          <div style="line-height: 1.25">&#160;</div>
          <div style="text-align: justify; text-indent: 36pt; line-height: 1.25;">Under the terms of the Amended and Restated Management Agreement, Mr. Nissan serves as the Chairman of the Company&#8217;s Board of Directors, and provides the Company with the
            following active chairman services listed in the Third Amended Management Agreement, as follows: (a) coordination of the activities of the Company&#8217;s Board of Directors with respect to the development&#160;of the long term strategy for Eltek; (b)
            guidance to the Company&#8217;s Board of Directors with respect to the implementation by management of its strategy, work plans and budget, as will be determined from time to time by the Company&#8217;s Board of Directors; (c) coordination of the
            activities of the Company&#8217;s Board of Directors with respect to the regulation and implementation of proper corporate governance practices; (d) coordination of the activities of the Company&#8217;s Board of Directors for the purpose of the approval of
            quarterly and annual financial statements and reports; (e) development and retention of relations with current and future strategic investors; (f) general guidance and management of the activities of the Company&#8217;s Board of Directors; (g)
            advancement of the Company&#8217;s efforts with respect to the realization of its business development strategy, including the pursuit of mergers and acquisition opportunities; (h) coordination of the activities of the Company&#8217;s Board of Directors
            with respect to the definition of strategic financial targets and in attaining said targets; and, as additionally agreed in the new Amended Management Agreement, (i) provision of assistance to the Company in cooperation with the Company&#8217;s chief
            executive officer, regarding the Company&#8217;s dealings, communications and negotiations with the banks and non-baking financing institutions, including but not limited to, assistance with respect to obtaining financing for the Company&#8217;s business
            activities, and (j) business development services, including the provision to the Company with assistance, in cooperation with the Company&#8217;s chief executive officer, in the development and preservation of relationships with the Company&#8217;s
            existing and potential customers. In providing the foregoing services, Mr. Nissan is required to dedicate the appropriate attention, time and effort to the Company, in accordance with the Company's needs from time to time. In consideration for
            providing said services, the Company has been paying, and subject to the approval of the shareholders, will continue to pay, Nistec Ltd. a monthly fixed fee of NIS 90,000, plus applicable VAT (the "<u>Fee</u>").&#160; In addition, under the Amended
            and Restated Management Agreement, Nistec Ltd. will be entitled to the following compensation:</div>
          <div style="line-height: 1.25">&#160;</div>
        </div>
        <div style="line-height: 1.25;">
          <table cellspacing="0" cellpadding="0" id="za1654feb8bb34359a6ed3b01e5e5b4f5" class="DSPFListTable" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

              <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>Subject to Company&#8217;s reimbursement policy approved by the Audit Committee on May 15, 2016, Mr. Nissan will receive reimbursement of travel expenses (other than food and beverage expenses) while traveling internationally on behalf of
                    the Company, <font style="font-style: italic;">provided</font> that such reimbursement will not exceed an aggregate amount of NIS 10,000 per calendar quarter.</div>
                </td>
              </tr>

          </table>
          <div style="line-height: 1.25">&#160;</div>
          <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" id="DSPFPageBreakArea">
            <div style="text-align: center;" id="DSPFPageNumberArea"><font style="font-weight: normal; font-style: normal;" id="DSPFPageNumber">9</font></div>
            <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>
          <table cellspacing="0" cellpadding="0" id="z407a312a369c443ca8c788ed5545b158" class="DSPFListTable" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

              <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>Mr. Nissan will receive reimbursement of food and beverage expenses while traveling internationally on behalf of the Company, against receipts, in accordance with the Israeli Income Tax Regulations (Deduction of Certain Expenses).</div>
                </td>
              </tr>

          </table>
          <div style="line-height: 1.25">&#160;</div>
          <table cellspacing="0" cellpadding="0" id="zf1e708c4b3cf465287a0ab27b3087068" class="DSPFListTable" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

              <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>Pursuant to the proposed amendment and restatement of the Amended Management Agreement, and subject to the Shareholder's approval of Resolution 2 above, commencing on the year ended December 31, 2021 and each calendar year
                    thereafter, in the event that the Company's audited Consolidated Financial Statements reflect that the Company has reached profit equal to 2% or more of the Company's revenues, then Nistec Ltd. shall be entitled to receive an annual
                    performance-based bonus with respect to Mr. Nissan&#8217;s active chairman services, in an amount equal to 3 times the Fee.</div>
                </td>
              </tr>

          </table>
          <div style="line-height: 1.25">&#160;</div>
        </div>
        <div style="line-height: 1.25;">
          <div style="text-align: justify; text-indent: 36pt; line-height: 1.25;">On July 18, 2022 and July 26, 2022 the Company&#8217;s Compensation Committee and Board of Directors approved the extension, amendment and restatement of the Amended Management
            Agreement, by way of entering into the Amended and Restated Services Agreement.</div>
          <div style="line-height: 1.25">&#160;</div>
          <div style="text-align: justify; text-indent: 36pt; line-height: 1.25;">At the Meeting, the Company&#8217;s Board of Directors proposes that the following resolution be adopted:</div>
          <div style="line-height: 1.25">&#160;</div>
          <div style="text-align: justify; text-indent: 36pt; line-height: 1.25;">&#8220;<font style="font-weight: bold;">RESOLVED</font>, to approve the extension, amendment and restatement of the Amended Management Agreement with Nistec Ltd., by entering into
            the Amended and Restated Services Agreement with Nistec Ltd. for a three (3) years&#8217; period, effective as of January 1, 2022, as described in this Proxy Statement.&#8221;</div>
          <div style="line-height: 1.25">&#160;</div>
        </div>
        <div style="line-height: 1.25;">
          <div style="text-indent: 36pt; line-height: 1.25; font-weight: bold;">Vote Required</div>
          <div style="line-height: 1.25">&#160;</div>
        </div>
        <div style="line-height: 1.25;">
          <div style="text-align: justify; text-indent: 36pt; line-height: 1.25;">The approval of this Item&#160;3 requires the affirmative vote of a majority of the shares present, in person or by proxy, and voting on this matter, <font style="font-style: italic;">provided</font> that either (i) at least a majority of the shares of shareholders who are not Controlling Shareholders and who do not have a Personal Interest in this resolution, are voted in favor thereof; or (ii) the total number
            of shares of shareholders who are not Controlling Shareholders and who do not have a Personal Interest in this resolution, which are voted against it, does not exceed two percent (2%) of the outstanding voting power in the Company.</div>
          <div style="line-height: 1.25">&#160;</div>
          <div style="line-height: 1.25;">
            <div style="font-family: 'Times New Roman',Times,serif; font-weight: bold; text-align: center;">4.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; EXTENSION OF THE EXCULPATION LETTER GRANTED TO MR. YITZHAK NISSAN</div>
          </div>
          <div style="line-height: 1.25;"><br style="line-height: 1.25;">
          </div>
        </div>
        <div style="text-align: center; text-indent: -35.45pt; margin-left: 35.45pt; line-height: 1.25;">(Item 44 on the Proxy Card)</div>
        <div style="line-height: 1.25">&#160;</div>
        <div style="line-height: 1.25;">
          <div style="text-align: justify; text-indent: 36pt; line-height: 1.25;">In October 2013, our shareholders approved the Company&#8217;s undertaking to exculpate, in advance, its directors and officers from liability for damages caused as a result of a
            breach of such director&#8217;s or officer&#8217;s duty of care towards the Company (the &#8220;<u>Exculpation Letter</u>&#8221;). Under the Exculpation Letter, the Company exempts such director or officer, to the fullest extent permitted by applicable law, from any
            liability for damages caused as a result of a breach of such director&#8217;s or officer&#8217;s duty of care towards the Company, resulting from any action taken by such director or officer in good faith in his or her capacity as director or officer, as
            applicable.</div>
          <div style="line-height: 1.25">&#160;</div>
          <div style="text-align: justify; text-indent: 36pt; line-height: 1.25;">In accordance with the provisions of the Companies Law, an Exculpation Letter to Mr. Nissan, as our Controlling Shareholder, may be in force and effect for a maximum period
            of three (3) years. In December 2019, our shareholders approved the extension of the Exculpation Letter to Mr. Nissan for a three (3) year period ending on December 31, 2022. Therefore, our shareholders are hereby requested to approve the
            extension of the Exculpation Letter to Mr. Nissan for an additional three (3) year period ending on December 31, 2025.</div>
          <div style="line-height: 1.25">&#160;</div>
          <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" id="DSPFPageBreakArea">
            <div style="text-align: center;" id="DSPFPageNumberArea"><font style="font-weight: normal; font-style: normal;" id="DSPFPageNumber">10</font></div>
            <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="text-align: justify; text-indent: 36pt; line-height: 1.25;">On July 18, 2022 and July 26, 2022, the Company&#8217;s Compensation Committee and Board of Directors approved the extension of the Exculpation Letter to Mr. Nissan.</div>
          <div style="line-height: 1.25">&#160;</div>
          <div style="text-align: justify; text-indent: 36pt; line-height: 1.25;">At the Meeting, the Company&#8217;s Board of Directors proposes that the following resolution be adopted:</div>
          <div style="line-height: 1.25">&#160;</div>
          <div style="text-align: justify; text-indent: 36pt; line-height: 1.25;">&#8220;<font style="font-weight: bold;">RESOLVED</font>, to approve the extension of the Exculpation Letter to Mr. Nissan for an additional three (3) years&#8217; period ending on
            December 31, 2025, as set forth in this Proxy Statement.&#8221;</div>
          <div style="line-height: 1.25">&#160;</div>
        </div>
        <div style="line-height: 1.25;">
          <div style="text-indent: 36pt; line-height: 1.25; font-weight: bold;">Vote Required</div>
          <div style="line-height: 1.25">&#160;</div>
        </div>
        <div style="line-height: 1.25;">
          <div style="text-align: justify; text-indent: 36pt; line-height: 1.25;">The approval of this Item&#160;4 requires the affirmative vote of a majority of the shares present, in person or by proxy, and voting on this matter, <font style="font-style: italic;">provided</font> that either (i) at least a majority of the voted shares by shareholders who are not Controlling Shareholders and who do not have a Personal Interest in this resolution, are voted in favor thereof; or (ii) the total
            number of shares of shareholders who are not Controlling Shareholders and who do not have a Personal Interest in this resolution, which are voted against it, does not exceed two percent (2%) of the outstanding voting power in the Company.</div>
          <div style="line-height: 1.25">&#160;</div>
          <div style="line-height: 1.25">
            <div style="font-family: 'Times New Roman',Times,serif; font-weight: bold; text-align: center;">5.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; EXTENSION OF THE INDEMNIFICATION LETTER GRANTED TO MR. YITZHAK NISSAN</div>
          </div>
          <div style="line-height: 1.25;"><br style="line-height: 1.25;">
          </div>
        </div>
        <div style="text-align: center; text-indent: -35.45pt; margin-left: 35.45pt; line-height: 1.25;">(Item 45 on the Proxy Card)</div>
        <div style="line-height: 1.25">&#160;</div>
        <div style="line-height: 1.25;">
          <div style="text-align: justify; text-indent: 36pt; line-height: 1.25;">The Companies Law and the Company&#8217;s Articles of Association authorize the Company, subject to the receipt of requisite corporate approvals, to agree in advance to indemnify
            directors and officers, subject to certain conditions and limitations. In December 2019, the Company&#8217;s shareholders approved an amended indemnity agreement (the "<u>Indemnification Letter</u>")&#160; granted to the Company&#8217;s directors and officers
            serving from time to time in such capacity, such that the <u>Indemnification Letter</u> shall comply with the terms of the Companies Law.</div>
        </div>
        <div style="line-height: 1.25;">
          <div style="line-height: 1.25;">&#160;</div>
        </div>
        <div style="line-height: 1.25;">
          <div style="text-align: justify; text-indent: 36pt; line-height: 1.25;">In accordance with the provisions of the Companies Law, an Indemnification Letter to Mr. Nissan, as our Controlling Shareholder, can be in force and effect for a maximum
            period of three (3) years. Therefore, our shareholders are hereby requested to approve the extension of the Exculpation Letter to Mr. Nissan for an additional three (3) years&#8217; period ending on December 31, 2025.</div>
          <div style="line-height: 1.25">&#160;</div>
          <div style="text-align: justify; text-indent: 36pt; line-height: 1.25;">On July 18, 2022 and July 26, 2022, the Company&#8217;s Compensation Committee and Board of Directors have approved the extension of the Exculpation Letter to Mr. Nissan.</div>
          <div style="line-height: 1.25">&#160;</div>
          <div style="text-align: justify; text-indent: 36pt; line-height: 1.25;">At the Meeting, the Company&#8217;s Board of Directors proposes that the following resolution be adopted:</div>
          <div style="line-height: 1.25">&#160;</div>
          <div style="text-align: justify; text-indent: 36pt; line-height: 1.25;">&#8220;<font style="font-weight: bold;">RESOLVED</font>, to approve the extension of the Indemnification Letter to Mr. Nissan for an additional three (3) years&#8217; period ending on
            December 31, 2025, as set forth in this Proxy Statement.&#8221;</div>
          <div style="line-height: 1.25">&#160;</div>
        </div>
        <div style="line-height: 1.25;">
          <div style="text-indent: 36pt; line-height: 1.25; font-weight: bold;">Vote Required</div>
          <div style="line-height: 1.25">&#160;</div>
        </div>
        <div style="line-height: 1.25;">
          <div style="text-align: justify; text-indent: 36pt; line-height: 1.25;">The approval of this Item&#160;5 requires the affirmative vote of a majority of the shares present, in person or by proxy, and voting on this matter, <font style="font-style: italic;">provided</font> that either (i) at least a majority of the voted shares by shareholders who are not Controlling Shareholders and who do not have a Personal Interest in this resolution, are voted in favor thereof; or (ii) the total
            number of shares of shareholders who are not Controlling Shareholders and who do not have a Personal Interest in this resolution, which are voted against it, does not exceed two percent (2%) of the outstanding voting power in the Company.</div>
          <div style="line-height: 1.25">&#160;</div>
          <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" id="DSPFPageBreakArea">
            <div style="text-align: center;" id="DSPFPageNumberArea"><font style="font-weight: normal; font-style: normal;" id="DSPFPageNumber">11</font></div>
            <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>
        <div style="text-align: center; text-indent: -28.35pt; margin-right: 0.7pt; margin-left: 28.35pt; line-height: 1.25; font-weight: bold;">6.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;COMPENSATION OF CHIEF EXECUTIVE OFFICER</div>
        <div style="line-height: 1.25">&#160;</div>
        <div style="line-height: 1.25;">
          <div style="text-align: center; line-height: 1.25;">&#160;(Item 6 on the Proxy Card)</div>
        </div>
        <div style="line-height: 1.25;">
          <div style="line-height: 1.25;">&#160;</div>
        </div>
        <div style="line-height: 1.25;">
          <div style="text-align: justify; text-indent: 36pt; line-height: 1.25;">In September 2018, the Company&#8217;s shareholders approved the appointment of Mr. Eli Yaffe as the Company&#8217;s Chief Executive Officer (the &#8220;<u>CEO</u>&#8221;), effective as of July 1,
            2018 and the Company entered into an employment agreement (the &#8220;<u>Original Agreement</u>&#8221;) with the CEO, which was amended in April 2020. In June 2021, the Company&#8217;s Compensation Committee and Board of Directors increased Mr. Yaffe's salary by
            NIS 5,000 per month, an immaterial change that did not require shareholders&#8217; approval.</div>
          <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;">In July 2022, the Company entered into an amendment to the CEO's employment agreement (the &#8220;<u>Amended Agreement</u>&#8221;), the terms of which, under the Companies Law, must be
            approved by the Company&#8217;s Compensation Committee, Board of Directors and shareholders. Therefore, our shareholders are requested to approve the amended engagement terms of Mr. Yaffe with the Company, effective as of January 1, 2023, as follows:</div>
          <div style="line-height: 1.25;"><br style="line-height: 1.25;">
          </div>
        </div>
        <div style="line-height: 1.25;">
          <table cellspacing="0" cellpadding="0" id="zac5db1a019a14f2c9752a73cdbd2a44a" class="DSPFListTable" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

              <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><u>Compensation</u>: Effective as of the first month at which the Company's revenues shall exceed US $45,000,000, the aggregate monthly salary payable under the Amended Agreement, shall be increased by NIS 5,000 to NIS 90,000.
                    Effective as of the first month at which the Company's revenues shall exceed US $50,000,000, the aggregate monthly salary payable under the Amended Agreement, shall be increased by additional NIS 5,000 to NIS 95,000 (collectively, the &#8220;<u>Salary</u>&#8221;).

                    Subject to shareholders approval of Resolution 32 above, the Salary shall be increased, by incremental allowance (&#8220;<font style="font-style: italic;">Tosefet Yoker</font>&#8221;) in accordance with provisions of the general collective
                    agreements, and the expansion orders dealing with incremental allowances, as applicable from time to time.</div>
                </td>
              </tr>

          </table>
          <div style="line-height: 1.25">&#160;</div>
          <table cellspacing="0" cellpadding="0" id="zde8462a1ec094f5b82b723a55747dc11" class="DSPFListTable" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

              <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><u>Company Car</u>: Subject to shareholders&#8217; approval of Item 2 above, the Company shall provide the CEO with a company's car which cost shall equal NIS 300,000. &#160;</div>
                </td>
              </tr>

          </table>
          <div style="line-height: 1.25">&#160;</div>
          <table cellspacing="0" cellpadding="0" id="z2d6d6676d4e648c99a458698f02f8e1a" class="DSPFListTable" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

              <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><u>Performance Bonus</u>: In addition to the Salary, the CEO may earn an annual performance bonus, based on the Company&#8217;s revenues (the &#8220;<u>Revenues Bonus</u>&#8221;) and profits (the &#8220;<u>Profits Bonus</u>,&#8221; and together with the Revenues
                    Bonus<u>,</u> the &#8220;<u>Performance Bonuses</u>&#8221;), which will not exceed a seven (7) months&#8217; Salary paid during the relevant calendar year. The terms of the Performance Bonuses shall be as follows:</div>
                </td>
              </tr>

          </table>
          <div style="line-height: 1.25">&#160;</div>
        </div>
        <div style="line-height: 1.25;">
          <table cellspacing="0" cellpadding="0" id="zf2f376025cd343c39aa3d7ecbd08d52c" class="DSPFListTable" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

              <tr>
                <td style="width: 90pt;"><br>
                </td>
                <td style="width: 18pt; vertical-align: top; align: right;">o</td>
                <td style="width: auto; vertical-align: top; text-align: justify;">
                  <div>Condition to Performance Bonuses:</div>
                </td>
              </tr>

          </table>
          <div style="line-height: 1.25">&#160;</div>
        </div>
        <div style="line-height: 1.25;">
          <table cellspacing="0" cellpadding="0" id="zbedb2136974d4568914f198fc1155840" class="DSPFListTable" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

              <tr>
                <td style="width: 126pt;"><br>
                </td>
                <td style="width: 18pt; vertical-align: top; align: right;">&#9726;</td>
                <td style="width: auto; vertical-align: top; text-align: justify;">
                  <div>In the event the Company will have an Annual Loss (as defined in the Amended Agreement), the CEO will not be entitled to any Performance Bonus.</div>
                </td>
              </tr>

          </table>
          <div style="line-height: 1.25">&#160;</div>
          <table cellspacing="0" cellpadding="0" id="z1d98add5b0a34658be64803b9e6fa52e" class="DSPFListTable" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

              <tr>
                <td style="width: 126pt;"><br>
                </td>
                <td style="width: 18pt; vertical-align: top; align: right;">&#9726;</td>
                <td style="width: auto; vertical-align: top; text-align: justify;">
                  <div>In the event the Company will have an Annual Profit (as defined in the Amended Agreement) of less than 2% of the Company's Annual Revenues (as defined in the Amend Agreement) (up to a Yearly Profit of zero), the CEO will be entitled
                    to a Revenues Bonus only.</div>
                </td>
              </tr>

          </table>
          <div style="line-height: 1.25">&#160;</div>
          <table cellspacing="0" cellpadding="0" id="z67590f60a7854f27b98eff07f02ec7c3" class="DSPFListTable" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

              <tr>
                <td style="width: 126pt;"><br>
                </td>
                <td style="width: 18pt; vertical-align: top; align: right;">&#9726;</td>
                <td style="width: auto; vertical-align: top; text-align: justify;">
                  <div>In the event the Company will have an Annual Profit (as defined in the Amend Agreement) equal to or more than 2% of the Company's Annual Revenues (as defined in the Amend Agreement), the CEO will be entitled to both a Revenues Bonus
                    and a Profits Bonus.</div>
                </td>
              </tr>

          </table>
          <div style="line-height: 1.25">&#160;</div>
          <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" id="DSPFPageBreakArea">
            <div style="text-align: center;" id="DSPFPageNumberArea"><font style="font-weight: normal; font-style: normal;" id="DSPFPageNumber">12</font></div>
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              <hr noshade="noshade" style="border-width: 0px; clear: both; margin: 4px 0px; width: 100%; height: 2px; color: #000000; background-color: #000000;"></div>
          </div>
          <div style="line-height: 1.25;"><br style="line-height: 1.25;">
          </div>
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        <div style="line-height: 1.25;">
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              <tr>
                <td style="width: 90pt;"><br>
                </td>
                <td style="width: 18pt; vertical-align: top; align: right;">o</td>
                <td style="width: auto; vertical-align: top; text-align: justify;">
                  <div>Subject to the consummation of the conditions above, the calculations of Performance Bonuses shall be as follows:</div>
                </td>
              </tr>

          </table>
          <div style="line-height: 1.25">&#160;</div>
        </div>
        <div style="line-height: 1.25;">
          <table cellspacing="0" cellpadding="0" id="z55e1a58b45274c4db9cd1a5327e5ba28" class="DSPFListTable" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

              <tr>
                <td style="width: 126pt;"><br>
                </td>
                <td style="width: 18pt; vertical-align: top; align: right;">&#9726;</td>
                <td style="width: auto; vertical-align: top; text-align: justify;">
                  <div><u>Revenues Bonus</u>: in the event the Company's Annual Revenues exceed US $34,000,000, the CEO will be entitled to a bonus in accordance with the applicable Annual Revenues amount as set forth in the "<font style="font-weight: bold;">Annual Revenues in M$</font>" column in the table below, times the applicable percentage set forth in the "<font style="font-weight: bold;">Percent of Bonus of Revenues </font>" column below:</div>
                </td>
              </tr>

          </table>
          <div style="line-height: 1.25">&#160;</div>
        </div>
        <div style="margin-left: 144pt;">
          <table cellspacing="0" cellpadding="3" border="0" id="z6ce4dff210814d1d86bb3530da890c3e" style="width: 60%; color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; text-align: left;">

              <tr>
                <td style="width: 50%; 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-weight: bold;">Annual Revenues in M$</div>
                </td>
                <td style="width: 50%; 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: justify; line-height: 1.25; font-weight: bold;">Percent of Bonus of Revenues</div>
                </td>
              </tr>
              <tr>
                <td style="width: 50%; vertical-align: bottom; 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;">Up to 34</div>
                </td>
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                  <div style="text-align: justify; line-height: 1.25;">0</div>
                </td>
              </tr>
              <tr>
                <td style="width: 50%; vertical-align: bottom; 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;">34-38</div>
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                  <div style="text-align: justify; line-height: 1.25;">0.15</div>
                </td>
              </tr>
              <tr>
                <td style="width: 50%; vertical-align: bottom; 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;">38-42</div>
                </td>
                <td style="width: 50%; vertical-align: bottom; 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: justify; line-height: 1.25;">0.22</div>
                </td>
              </tr>
              <tr>
                <td style="width: 50%; vertical-align: bottom; 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;">42-46</div>
                </td>
                <td style="width: 50%; vertical-align: bottom; 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: justify; line-height: 1.25;">0.24</div>
                </td>
              </tr>
              <tr>
                <td style="width: 50%; vertical-align: bottom; 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;">46-50</div>
                </td>
                <td style="width: 50%; vertical-align: bottom; 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: justify; line-height: 1.25;">0.25</div>
                </td>
              </tr>
              <tr>
                <td style="width: 50%; vertical-align: bottom; 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: justify; line-height: 1.25;">Over 50</div>
                </td>
                <td style="width: 50%; vertical-align: bottom; border-width: 1px; border-style: solid; border-color: rgb(0, 0, 0);">
                  <div style="text-align: justify; line-height: 1.25;">0.28</div>
                </td>
              </tr>

          </table>
        </div>
        <div style="line-height: 1.25;">
          <div style="line-height: 1.25;"><br style="line-height: 1.25;">
          </div>
        </div>
        <div style="line-height: 1.25;">
          <table cellspacing="0" cellpadding="0" id="z86b654945d4d48d5ac1208a79b114034" class="DSPFListTable" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

              <tr>
                <td style="width: 126pt;"><br>
                </td>
                <td style="width: 18pt; vertical-align: top; align: right;">&#9726;</td>
                <td style="width: auto; vertical-align: top; text-align: justify;">
                  <div><u>Profits Bonus</u>: the Profits Bonus will be calculated as a percentage of the Annual Profits, as set forth in the "<font style="font-weight: bold;">Percent of Bonus of Annual Profit</font>," provided, that such percentage shall
                    be determined in accordance with the applicable Annual Revenues amount as set forth in the "<font style="font-weight: bold;">Annual Revenues in M$</font>" column below:</div>
                </td>
              </tr>

          </table>
          <div style="line-height: 1.25">&#160;</div>
        </div>
        <div style="margin-left: 144pt;">
          <table cellspacing="0" cellpadding="3" border="0" id="z985d58d909904d2e88da2516d6e19a06" style="width: 60%; color: rgb(0, 0, 0); font-family: 'Times New Roman',Times,serif; font-size: 10pt; text-align: left;">

              <tr>
                <td style="width: 49.56%; 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;">Percent of Bonus of Annual Profit</div>
                </td>
                <td style="width: 50.44%; 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: justify; line-height: 1.25; font-family: 'Times New Roman', Times, serif; font-weight: bold;">Annual Revenues in M$</div>
                </td>
              </tr>
              <tr>
                <td style="width: 49.56%; vertical-align: bottom; 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;">3.5</div>
                </td>
                <td style="width: 50.44%; vertical-align: bottom; 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: justify; line-height: 1.25; font-family: 'Times New Roman', Times, serif;">Up to 34</div>
                </td>
              </tr>
              <tr>
                <td style="width: 49.56%; vertical-align: bottom; 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;">3</div>
                </td>
                <td style="width: 50.44%; vertical-align: bottom; 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: justify; line-height: 1.25; font-family: 'Times New Roman', Times, serif;">34-38</div>
                </td>
              </tr>
              <tr>
                <td style="width: 49.56%; vertical-align: bottom; 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;">2.5</div>
                </td>
                <td style="width: 50.44%; vertical-align: bottom; 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: justify; line-height: 1.25; font-family: 'Times New Roman', Times, serif;">38-42</div>
                </td>
              </tr>
              <tr>
                <td style="width: 49.56%; vertical-align: bottom; 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;">2</div>
                </td>
                <td style="width: 50.44%; vertical-align: bottom; 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: justify; line-height: 1.25; font-family: 'Times New Roman', Times, serif;">42-46</div>
                </td>
              </tr>
              <tr>
                <td style="width: 49.56%; vertical-align: bottom; 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;">1.5</div>
                </td>
                <td style="width: 50.44%; vertical-align: bottom; 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: justify; line-height: 1.25; font-family: 'Times New Roman', Times, serif;">46-50</div>
                </td>
              </tr>
              <tr>
                <td style="width: 49.56%; vertical-align: bottom; 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: justify; line-height: 1.25; font-family: 'Times New Roman', Times, serif;">1</div>
                </td>
                <td style="width: 50.44%; vertical-align: bottom; border-width: 1px; border-style: solid; border-color: rgb(0, 0, 0);">
                  <div style="text-align: justify; line-height: 1.25; font-family: 'Times New Roman', Times, serif;">Over 50</div>
                </td>
              </tr>

          </table>
        </div>
        <div style="line-height: 1.25;">
          <div style="line-height: 1.25;"><br style="line-height: 1.25;">
          </div>
        </div>
        <div style="line-height: 1.25;">
          <div style="text-align: justify; text-indent: 35.45pt; line-height: 1.25;">All other terms of the Original Agreement, including but not limited to permitted activities, confidentiality and non-competition, severance pay and pension arrangements,
            vacation, education fund contribution, sick pay, reimbursement of expenses and travel expenses, and options (as amended in December 2019, October 2020, June 2021 and by the Compensation Committee and the Board of Directors in June 2021) will
            remain the same.</div>
          <div style="line-height: 1.25">&#160;</div>
          <div style="text-align: justify; text-indent: 35.45pt; line-height: 1.25;">In addition, as a director and officer of the Company, Mr. Yaffe will be entitled to: (i) officers' insurance; (ii) an indemnification agreement, in the form approved by
            the Company&#8217;s shareholders on December 5, 2019; and (iii) an&#160;exculpation letter, in the form approved by the Company&#8217;s shareholders on October 17, 2013.</div>
          <div style="line-height: 1.25">&#160;</div>
          <div style="text-align: justify; text-indent: 35.45pt; line-height: 1.25;">Pursuant to the terms of the Companies Law, our Compensation Committee and our Board of Directors have approved the terms described above.</div>
          <div style="line-height: 1.25">&#160;</div>
          <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" id="DSPFPageBreakArea">
            <div style="text-align: center;" id="DSPFPageNumberArea"><font style="font-weight: normal; font-style: normal;" id="DSPFPageNumber">13</font></div>
            <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="text-align: justify; text-indent: 35.45pt; line-height: 1.25;">Pursuant to the Companies Law, the Compensation Committee and Board may in special circumstances approve the CEO&#8217;s compensation described herein, even if shareholders&#8217;
            approval is not received.</div>
          <div style="line-height: 1.25">&#160;</div>
          <div style="text-align: justify; text-indent: 35.45pt; line-height: 1.25;">At the Meeting, the Board of Directors proposes that the following resolution be adopted:</div>
          <div style="line-height: 1.25">&#160;</div>
        </div>
        <div style="line-height: 1.25;">
          <div style="text-indent: 35.45pt; line-height: 1.25;">&#160;&#8220;<font style="font-weight: bold;">RESOLVED</font>, that the amended terms of Mr. Yaffe&#8217;s engagement with the Company, as described in the Proxy Statement, be and are hereby approved.&#8221;</div>
          <div style="line-height: 1.25">&#160;</div>
        </div>
        <div style="line-height: 1.25;">
          <div style="text-align: justify; line-height: 1.25; font-family: 'Times New Roman',Times,serif; font-weight: bold; text-indent: 36pt;">Vote Required</div>
          <div style="line-height: 1.25">&#160;</div>
        </div>
        <div style="line-height: 1.25;">
          <div style="text-align: justify; text-indent: 36pt; line-height: 1.25;">The approval of this Item 6 requires the affirmative vote of a majority of the shares present, in person or by proxy, and voting on the matter, provided that either (i) at
            least a majority of the voted shares by shareholders who are not Controlling shareholders and who do not have a Personal Interest in the resolution, are voted in favor of the proposal; or (ii) the total number of shares of shareholders who are
            not Controlling shareholders and who do not have a Personal Interest in the resolution that were voted against this resolution does not exceed two percent (2%) of the outstanding voting power in the Company.</div>
          <div style="line-height: 1.25">&#160;</div>
        </div>
        <div style="text-align: center; text-indent: -28.35pt; margin-right: 0.7pt; margin-left: 28.35pt; line-height: 1.25; font-weight: bold;">7.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;RATIFICATION OF CHIEF EXECUTIVE OFFICER 2021 PERFORMANCE BONUS</div>
        <div style="line-height: 1.25">&#160;</div>
        <div style="line-height: 1.25;">
          <div style="text-align: center; line-height: 1.25;">&#160;(Item 7 on the Proxy Card)</div>
        </div>
        <div style="line-height: 1.25;">
          <div style="line-height: 1.25;">&#160;</div>
        </div>
        <div style="line-height: 1.25;">
          <div style="text-align: justify; text-indent: 35.45pt; line-height: 1.25;">The CEO's Original Agreement sets forth definitions for Annual Revenues and Annual Profit/Loss for the purpose of determining the annual bonus of the CEO. In March 2022,
            the Company's Compensation Committee and Board of Directors were inadvertently presented with performance bonus calculations that deviated from the definitions and formula set forth in the Original Agreement, as approved by the Company's
            Shareholders. The Compensation Committee and Board of Directors approved the performance bonus as presented to them, such that the CEO was granted a bonus&#160; that was NIS 71,000 greater than the amount which should have been granted under the
            calculations and formula approved by our shareholders (the "<u>Excess Amount</u>," and the "<u>2021 Performance Bonus</u>").</div>
          <div style="line-height: 1.25">&#160;</div>
          <div style="text-align: justify; text-indent: 35.45pt; line-height: 1.25;">In light of the extensive and careful deliberation by the Compensation Committee and the Board of Directors regarding the terms and structure of the 2021 Performance
            Bonus, the Compensation Committee and the Board of Directors determined to grant the CEO such bonus amount notwithstanding that such bonus when granted were made in deviation from the CEO Employment Agreement previously approved by the
            Shareholders; therefore, the Compensation Committee and our Board of Directors have ratified and approved the grant to the CEO of 2021 Performance Bonus, including the Excess Amount, such that Mr. Yaffe shall be permitted to retain the Excess
            Amount, all subject to shareholders&#8217; approval hereunder.</div>
          <div style="line-height: 1.25">&#160;</div>
          <div style="text-align: justify; text-indent: 35.45pt; line-height: 1.25;">At the Meeting, the Board of Directors proposes that the following resolution be adopted:</div>
          <div style="line-height: 1.25">&#160;</div>
        </div>
        <div style="line-height: 1.25;">
          <div style="text-indent: 35.45pt; line-height: 1.25;">&#160;&#8220;<font style="font-weight: bold;">RESOLVED</font>, to ratify and approve the grant to Mr. Yaffe&#8217;s of the 2021 Performance Bonus, including the Excess Amount, as described in the Proxy
            Statement, be and are hereby approved.&#8221;</div>
          <div style="line-height: 1.25">&#160;</div>
        </div>
        <div style="line-height: 1.25;">
          <div style="text-align: justify; line-height: 1.25; font-family: 'Times New Roman',Times,serif; font-weight: bold; text-indent: 36pt;">Vote Required</div>
          <div style="line-height: 1.25">&#160;</div>
        </div>
        <div style="line-height: 1.25;">
          <div style="text-align: justify; text-indent: 36pt; line-height: 1.25;">The approval of this Item 7 requires the affirmative vote of a majority of the shares present, in person or by proxy, and voting on the matter, provided that either (i) at
            least a majority of the voted shares by shareholders who are not Controlling Shareholders and who do not have a Personal Interest in the resolution, are voted in favor of the proposal; or (ii) the total number of shares of shareholders who are
            not Controlling shareholders and who do not have a Personal Interest in the resolution that were voted against this resolution does not exceed two percent (2%) of the outstanding voting power in the Company.</div>
          <div style="line-height: 1.25">&#160;</div>
          <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" id="DSPFPageBreakArea">
            <div style="text-align: center;" id="DSPFPageNumberArea"><font style="font-weight: normal; font-style: normal;" id="DSPFPageNumber">14</font></div>
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              <hr noshade="noshade" style="border-width: 0px; clear: both; margin: 4px 0px; width: 100%; height: 2px; color: #000000; background-color: #000000;"></div>
          </div>
          <div style="line-height: 1.25;"><br style="line-height: 1.25;">
          </div>
        </div>
        <div style="text-align: center; line-height: 1.25; font-weight: bold;">8.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; APPOINTMENT OF INDEPENDENT AUDITORS</div>
        <div style="line-height: 1.25">&#160;</div>
        <div style="text-align: center; text-indent: -35.45pt; margin-left: 35.45pt; line-height: 1.25;">(Item 8 on the Proxy Card)</div>
        <div style="line-height: 1.25">&#160;</div>
        <div style="text-align: justify; text-indent: 36pt; line-height: 1.25;">The Company&#8217;s Board of Directors recommends that our shareholders approve the reappointment of Brightman Almagor Zohar &amp; Co., a firm in the Deloitte Global Network, as the
          Company&#8217;s independent auditors for the year ending December 31, 2022, and for such additional period, until the next annual general meeting of shareholders.</div>
        <div style="line-height: 1.25">&#160;</div>
        <div style="text-align: justify; text-indent: 36pt; line-height: 1.25;">The following table sets forth, for each of the years indicated, the fees paid to our independent registered public accountants.&#160;Brightman Almagor Zohar &amp; Co., a firm in
          the Deloitte Global Network, have served as our principal independent registered public accounting firm since December 2020. Kost Forer Gabbay &amp; Kasierer, a member of Ernst &amp; Young Global, served as our principal independent registered
          public accounting firm prior to the appointment of Brightman Almagor Zohar &amp; Co.:</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; text-align: left; color: #000000; width: 100%;" id="zdc8090be88c14ed0b0b4e03e0eb06433" class="cfttable">

            <tr>
              <td valign="bottom" style="vertical-align: top; padding-bottom: 2px;">&#160;</td>
              <td valign="bottom" style="vertical-align: bottom; padding-bottom: 2px;" colspan="1" class="cftguttercell">&#160;</td>
              <td valign="bottom" style="vertical-align: top; border-bottom: #000000 solid 2px;" colspan="6">
                <div style="text-align: center; line-height: 1.25; font-weight: bold;">Year Ended December 31, 2021</div>
              </td>
              <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; padding-bottom: 2px;" colspan="1" class="cftfncell">&#160;</td>
              <td valign="bottom" style="vertical-align: bottom; padding-bottom: 2px;" colspan="1" class="cftguttercell">&#160;</td>
              <td valign="bottom" style="vertical-align: top; border-bottom: #000000 solid 2px;" colspan="6">
                <div style="text-align: center; line-height: 1.25; font-weight: bold;">Year Ended December 31, 2020</div>
              </td>
              <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; padding-bottom: 2px;" colspan="1" class="cftfncell">&#160;</td>
            </tr>
            <tr>
              <td valign="bottom" style="vertical-align: top; padding-bottom: 2px;">&#160;</td>
              <td valign="bottom" style="vertical-align: bottom; padding-bottom: 2px;" colspan="1" class="cftguttercell">&#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-weight: bold;">Amount</div>
              </td>
              <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; padding-bottom: 2px;" colspan="1" class="cftfncell">&#160;</td>
              <td valign="bottom" style="vertical-align: bottom; padding-bottom: 2px;" colspan="1" class="cftguttercell">&#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-weight: bold;">Percentage</div>
              </td>
              <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; padding-bottom: 2px;" colspan="1" class="cftfncell">&#160;</td>
              <td valign="bottom" style="vertical-align: bottom; padding-bottom: 2px;" colspan="1" class="cftguttercell">&#160;</td>
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              <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; padding-bottom: 2px;" colspan="1" class="cftfncell">&#160;</td>
              <td valign="bottom" style="vertical-align: bottom; padding-bottom: 2px;" colspan="1" class="cftguttercell">&#160;</td>
              <td valign="bottom" style="vertical-align: top; border-bottom: 2px solid rgb(0, 0, 0);" colspan="2">
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              <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; padding-bottom: 2px;" colspan="1" class="cftfncell">&#160;</td>
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              <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1" class="cftguttercell">&#160;</td>
              <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1" class="cftcurrcell">
                <div style="line-height: 1.25;">$</div>
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              <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);" colspan="1" class="cftnumcell">
                <div style="line-height: 1.25;">75,800</div>
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              <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1" class="cftfncell">&#160;</td>
              <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1" class="cftguttercell">&#160;</td>
              <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1" class="cftcurrcell">&#160;</td>
              <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);" colspan="1" class="cftnumcell">
                <div style="line-height: 1.25;">74</div>
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              <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1" class="cftfncell">
                <div style="line-height: 1.25;">%</div>
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              <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1" class="cftguttercell">&#160;</td>
              <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1" class="cftcurrcell">
                <div style="line-height: 1.25;">$</div>
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              <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);" colspan="1" class="cftnumcell">
                <div style="line-height: 1.25;">70,000</div>
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              <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1" class="cftfncell">&#160;</td>
              <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1" class="cftguttercell">&#160;</td>
              <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1" class="cftcurrcell">&#160;</td>
              <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);" colspan="1" class="cftnumcell">
                <div style="line-height: 1.25;">68</div>
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              <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1" class="cftfncell">
                <div style="line-height: 1.25;">%</div>
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              <td valign="bottom" style="vertical-align: bottom; width: 52%;">
                <div style="text-align: justify; line-height: 1.25;">Audit-related fees<sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">(2)</sup></div>
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              <td valign="bottom" style="vertical-align: bottom; width: 1%;" colspan="1" class="cftguttercell">&#160;</td>
              <td valign="bottom" style="vertical-align: bottom; width: 1%;" colspan="1" class="cftcurrcell">
                <div style="line-height: 1.25;">$</div>
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              <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%;" colspan="1" class="cftnumcell">
                <div style="line-height: 1.25;">21,700</div>
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              <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%;" colspan="1" class="cftfncell">&#160;</td>
              <td valign="bottom" style="vertical-align: bottom; width: 1%;" colspan="1" class="cftguttercell">&#160;</td>
              <td valign="bottom" style="vertical-align: bottom; width: 1%;" colspan="1" class="cftcurrcell">&#160;</td>
              <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%;" colspan="1" class="cftnumcell">
                <div style="line-height: 1.25;">21</div>
              </td>
              <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%;" colspan="1" class="cftfncell">
                <div style="line-height: 1.25;">%</div>
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              <td valign="bottom" style="vertical-align: bottom; width: 1%;" colspan="1" class="cftguttercell">&#160;</td>
              <td valign="bottom" style="vertical-align: bottom; width: 1%;" colspan="1" class="cftcurrcell">
                <div style="line-height: 1.25;">$</div>
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              <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%;" colspan="1" class="cftnumcell">
                <div style="line-height: 1.25;">27,500</div>
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              <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%;" colspan="1" class="cftfncell">&#160;</td>
              <td valign="bottom" style="vertical-align: bottom; width: 1%;" colspan="1" class="cftguttercell">&#160;</td>
              <td valign="bottom" style="vertical-align: bottom; width: 1%;" colspan="1" class="cftcurrcell">&#160;</td>
              <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%;" colspan="1" class="cftnumcell">
                <div style="line-height: 1.25;">27</div>
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              <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%;" colspan="1" class="cftfncell">
                <div style="line-height: 1.25;">%</div>
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            <tr>
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                <div style="text-align: justify; line-height: 1.25;">All other fees<sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">(2)</sup></div>
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              <td valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: rgb(204, 238, 255);" colspan="1" class="cftguttercell">&#160;</td>
              <td valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);" colspan="1" class="cftcurrcell">
                <div style="line-height: 1.25;">$</div>
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              <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);" colspan="1" class="cftnumcell">
                <div style="line-height: 1.25;">5,500</div>
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              <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: rgb(204, 238, 255);" colspan="1" class="cftfncell">&#160;</td>
              <td valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: rgb(204, 238, 255);" colspan="1" class="cftguttercell">&#160;</td>
              <td valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);" colspan="1" class="cftcurrcell">&#160;</td>
              <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);" colspan="1" class="cftnumcell">
                <div style="line-height: 1.25;">5</div>
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              <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: rgb(204, 238, 255);" colspan="1" class="cftfncell">
                <div style="line-height: 1.25;">%</div>
              </td>
              <td valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: rgb(204, 238, 255);" colspan="1" class="cftguttercell">&#160;</td>
              <td valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);" colspan="1" class="cftcurrcell">
                <div style="line-height: 1.25;">$</div>
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              <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);" colspan="1" class="cftnumcell">
                <div style="line-height: 1.25;">5,000</div>
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              <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: rgb(204, 238, 255);" colspan="1" class="cftfncell">&#160;</td>
              <td valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: rgb(204, 238, 255);" colspan="1" class="cftguttercell">&#160;</td>
              <td valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);" colspan="1" class="cftcurrcell">&#160;</td>
              <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);" colspan="1" class="cftnumcell">
                <div style="line-height: 1.25;">5</div>
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              <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: rgb(204, 238, 255);" colspan="1" class="cftfncell">
                <div style="line-height: 1.25;">%</div>
              </td>
            </tr>
            <tr>
              <td valign="bottom" style="vertical-align: bottom; width: 52%; padding-bottom: 4px;">
                <div style="text-align: justify; line-height: 1.25;">Total</div>
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              <td valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 4px;" colspan="1" class="cftguttercell">&#160;</td>
              <td valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: 4px double rgb(0, 0, 0);" colspan="1" class="cftcurrcell">
                <div style="line-height: 1.25;">$</div>
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              <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 4px double rgb(0, 0, 0);" colspan="1" class="cftnumcell">
                <div style="line-height: 1.25;">103,000</div>
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              <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; padding-bottom: 4px;" colspan="1" class="cftfncell">&#160;</td>
              <td valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 4px;" colspan="1" class="cftguttercell">&#160;</td>
              <td valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: 4px double rgb(0, 0, 0);" colspan="1" class="cftcurrcell">&#160;</td>
              <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 4px double rgb(0, 0, 0);" colspan="1" class="cftnumcell">
                <div style="line-height: 1.25;">100</div>
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              <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; padding-bottom: 4px;" colspan="1" class="cftfncell">
                <div style="line-height: 1.25;">%</div>
              </td>
              <td valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 4px;" colspan="1" class="cftguttercell">&#160;</td>
              <td valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: 4px double rgb(0, 0, 0);" colspan="1" class="cftcurrcell">
                <div style="line-height: 1.25;">$</div>
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              <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 4px double rgb(0, 0, 0);" colspan="1" class="cftnumcell">
                <div style="line-height: 1.25;">102,500</div>
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              <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; padding-bottom: 4px;" colspan="1" class="cftfncell">&#160;</td>
              <td valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 4px;" colspan="1" class="cftguttercell">&#160;</td>
              <td valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: 4px double rgb(0, 0, 0);" colspan="1" class="cftcurrcell">&#160;</td>
              <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 4px double rgb(0, 0, 0);" colspan="1" class="cftnumcell">
                <div style="line-height: 1.25;">100</div>
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              <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; padding-bottom: 4px;" colspan="1" class="cftfncell">
                <div style="line-height: 1.25;">%</div>
              </td>
            </tr>

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            <tr>
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              <td style="width: 17.85pt; vertical-align: top; align: right;"><sub style="vertical-align: bottom; line-height: 1; font-size: smaller;">(1)</sub></td>
              <td style="width: auto; vertical-align: top; text-align: justify;">
                <div>Audit fees relate to audit services provided for each of the years shown in the table, including fees associated with the annual audit, consultations on various accounting issues and audit services provided in connection with statutory
                  or regulatory filings.</div>
              </td>
            </tr>

        </table>
        <div style="line-height: 1.25">&#160;</div>
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            <tr>
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              <td style="width: 17.85pt; vertical-align: top; align: right;"><sub style="vertical-align: bottom; line-height: 1; font-size: smaller;">(2)</sub></td>
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                <div>All of such fees were pre-approved by our Audit Committee.</div>
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            </tr>

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        <div style="line-height: 1.25">&#160;</div>
        <div style="line-height: 1.25;">
          <div style="text-align: justify; line-height: 1.25; font-weight: bold;">Audit Committee&#8217;s pre-approval policies and procedures:</div>
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        </div>
        <div style="text-align: justify; text-indent: 36pt; line-height: 1.25;">Our Audit Committee has adopted a policy and procedures for the pre-approval of audit and non-audit services rendered by our independent auditors.&#160;Pre-approval of an audit or
          non-audit service may be given as a general pre-approval, as part of the Audit Committee&#8217;s approval of the scope of the engagement of our independent auditor, or on an individual basis.&#160;Any proposed services exceeding general pre-approved levels
          also require specific pre-approval by our Audit Committee. If needed, the Audit Committee&#8217;s Chairman may pre-approve services up to a limit of $10,000, in anticipation of approval of the Audit Committee, at the first meeting following the
          Chairman&#8217;s approval.&#160;The policy prohibits retention of the independent registered public accounting firm to perform the prohibited non-audit functions defined in Section 201 of the Sarbanes-Oxley Act or the rules of the SEC, and also requires the
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        <div style="text-align: justify; text-indent: 36pt; line-height: 1.25;">At the Meeting, the Company&#8217;s Board of Directors proposes that the following resolution be adopted:</div>
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        <div style="line-height: 1.25;">
          <div style="text-align: justify; text-indent: 36pt; line-height: 1.25;">&#8220;<font style="font-weight: bold;">RESOLVED</font>, to reappoint Brightman Almagor Zohar &amp; Co., a firm in the Deloitte Global Network, as the Company&#8217;s independent
            auditors for the fiscal year ending December 31, 2022, and for such additional period, until the next annual general meeting of shareholders, and to authorize the Company&#8217;s Board of Directors to approve their compensation.&#8221;</div>
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        <div style="text-align: justify; text-indent: 36pt; line-height: 1.25; font-weight: bold;">Vote Required</div>
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        <div style="text-align: justify; text-indent: 36pt; line-height: 1.25;">The approval of this Item 7 requires the affirmative vote of the holders of a majority of the voting power represented at the Meeting in person or by proxy.</div>
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        </div>
        <div style="text-align: center; line-height: 1.25;"><font style="font-weight: bold;">9.</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-weight: bold;">REVIEW OF AUDITOR&#8217;S REPORT AND FINANCIAL STATEMENTS</font></div>
        <div style="line-height: 1.25">&#160;</div>
        <div style="text-align: justify; text-indent: 36pt; line-height: 1.25;">At the Meeting, the Auditor&#8217;s Report and the Consolidated Financial Statements of the Company for the fiscal year ended December 31, 2021 will be presented for review. On March
          23, 2022, the Company&#8217;s Audited Consolidated Financial Statements were filed with the SEC under Form 20-F and appear on its website: <font style="font-weight: bold;"><u>www.sec.gov</u></font>, as well as on the Company&#8217;s website: <font style="font-weight: bold;">www.nisteceltek.com</font>. These financial statements are not a part of this Proxy Statement.&#160;This item does not involve a vote of ourshareholders.</div>
        <div style="line-height: 1.25">&#160;</div>
        <div style="text-align: center; margin-right: 36pt; line-height: 1.25; font-weight: bold;">OTHER BUSINESS</div>
        <div style="line-height: 1.25">&#160;</div>
        <div style="text-align: justify; text-indent: 36pt; line-height: 1.25;">The Meeting is called for the purposes set forth in the Notice accompanying this Proxy Statement. As of the date of the Notice, the Company&#8217;s Board of Directors knows of no
          business which will be presented for consideration at the Meeting other than the foregoing matters.</div>
        <div style="line-height: 1.25">&#160;</div>
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            <tr>
              <td style="width: 40%; 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;">By Order of the Board of Directors,</div>
              </td>
              <td style="width: 30%; vertical-align: top;">&#160;</td>
            </tr>
            <tr>
              <td style="width: 40%; vertical-align: top;">&#160;</td>
              <td style="width: 30%; vertical-align: top;">&#160;</td>
              <td style="width: 30%; vertical-align: top;">&#160;</td>
            </tr>
            <tr>
              <td style="width: 40%; 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;">Yitzhak Nissan</div>
              </td>
              <td style="width: 30%; vertical-align: top;">&#160;</td>
            </tr>
            <tr>
              <td style="width: 40%; 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;">Chairman of the Board of Directors</div>
              </td>
              <td style="width: 30%; vertical-align: top;">&#160;</td>
            </tr>

        </table>
        <div style="text-align: justify; line-height: 1.25;"> <br>
        </div>
        <div style="text-align: justify; line-height: 1.25;">July 27, 2022</div>
        <div style="line-height: 1.25">&#160;</div>
        <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" id="DSPFPageBreakArea">
          <div style="text-align: center;" id="DSPFPageNumberArea"><font style="font-weight: normal; font-style: normal;" id="DSPFPageNumber">16</font></div>
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        </div>
        <div style="line-height: 1.25;"><br style="line-height: 1.25;">
        </div>
        <div style="text-align: center; line-height: 1.25; font-variant: small-caps; font-weight: bold;">Exhibit A</div>
        <div style="line-height: 1.25">&#160;</div>
        <div style="text-align: center; line-height: 1.25; font-variant: small-caps; font-weight: bold;"><u>Amended and Restated Compensation Policy</u></div>
        <div style="line-height: 1.25">&#160;</div>
        <div style="line-height: 1.25;"><br style="line-height: 1.25;">
        </div>
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              <div style="line-height: 1.25;">Directors and Officers Compensation Policy &#8211; 2022
                <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 style="line-height: 1.25">&#160;</div>
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          <div style="text-align: center; line-height: 1.25; font-weight: bold;">Eltek Ltd.</div>
          <div style="line-height: 1.25">&#160;</div>
          <div style="text-align: center; line-height: 1.25; font-weight: bold;">Directors and Officers Compensation Policy</div>
          <div style="line-height: 1.25">&#160;</div>
          <div style="text-align: justify; line-height: 1.25;">The meaning of the definitions and terms in the Compensation Policy will be as set down in the Companies Law 5759-1999 (<font style="font-weight: bold;">the "Companies Law</font>&#8221;), unless
            otherwise defined in the framework of the Compensation Policy.</div>
          <div style="line-height: 1.25">&#160;</div>
          <div style="text-align: center; line-height: 1.25; font-weight: bold;"><u>Chapter 1: General Background</u></div>
          <div style="line-height: 1.25">&#160;</div>
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                <td style="width: 17.85pt; vertical-align: top; align: right;">1.</td>
                <td style="width: auto; vertical-align: top; text-align: justify;">
                  <div style="font-weight: bold;"><u>General background</u></div>
                </td>
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          <div style="line-height: 1.25">&#160;</div>
          <table cellspacing="0" cellpadding="0" id="za085a6afbb1e4688b5d12ae2680f8520" class="DSPFListTable" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

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                </td>
                <td style="width: 60.15pt; vertical-align: top; font-family: 'Times New Roman',Times,serif;">1.1.</td>
                <td style="width: auto; vertical-align: top; text-align: justify;">
                  <div>The following document presents Eltek Ltd.&#8217;s (<font style="font-weight: bold;">the </font>&#8220;<font style="font-weight: bold;">Company</font>&#8221; ) Compensation Policy regarding the Company&#8217;s Officers (<font style="font-weight: bold;">the
                      "Compensation Policy&#8221;</font>) as determined by the Compensation Committee and the Company&#8217;s Board of Directors (&#8220;<font style="font-weight: bold;">BOD</font>").</div>
                </td>
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          <div style="line-height: 1.25">&#160;</div>
          <table cellspacing="0" cellpadding="0" id="zeb5a385238794355be328c31e3599a1e" class="DSPFListTable" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

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                </td>
                <td style="width: 60.15pt; vertical-align: top; font-family: 'Times New Roman',Times,serif;">1.2.</td>
                <td style="width: auto; vertical-align: top; text-align: justify;">
                  <div>The Compensation Policy is intended to increase the transparency of the Company&#8217;s activities regarding all aspects of its Officers&#8217; compensation and to enhance the shareholders' ability to express their opinion and influence the
                    Compensation Policy.</div>
                </td>
              </tr>

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          <div style="line-height: 1.25">&#160;</div>
          <table cellspacing="0" cellpadding="0" id="z905fe9c30a0a49d5bcc7591f441a8d37" class="DSPFListTable" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

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                </td>
                <td style="width: 60.15pt; vertical-align: top; font-family: 'Times New Roman',Times,serif;">1.3.</td>
                <td style="width: auto; vertical-align: top; text-align: justify;">
                  <div>The principles of the Compensation Policy were formulated following internal discussions held by the Compensation Committee and the BOD, which considered, among other things, the changes in the provisions of the law since the
                    adoption of the previous Compensation Policy; the experience and the lessons accumulated in the company during the period of the implementation of the previous compensation policy; and the changes in the company and its needs. The
                    policy&#8217;s principles are designed for determining reasonable, appropriate and fair compensation for the Company&#8217;s Officers, that will ensure that the Officers&#8217; compensation will be compatible with the good of the company and its
                    long-term and short-term organizational strategy, considering the Company&#8217;s risk management policy while increasing the Officers&#8217; sense of solidarity with the company and its activities, increasing their satisfaction and motivation and
                    enabling the company to both retain its high quality Officers for the long term and to hire new good quality officers.</div>
                </td>
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          <div style="line-height: 1.25">&#160;</div>
          <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" id="DSPFPageBreakArea">
            <div style="text-align: center;" id="DSPFPageNumberArea"><font style="font-weight: normal; font-style: normal;" id="DSPFPageNumber">A - 2</font></div>
            <div style="page-break-after: always;" id="DSPFPageBreak">
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          </div>
          <div>
            <div style="line-height: 1.25;">Directors and Officers Compensation Policy &#8211; 2022
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          </div>
          <div> <br>
          </div>
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                <td style="width: 60.15pt; vertical-align: top; font-family: 'Times New Roman',Times,serif;">1.4.</td>
                <td style="width: auto; vertical-align: top; text-align: justify;">
                  <div>The considerations taken into account during the setting of the Compensation Policy principles:</div>
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          <div style="line-height: 1.25">&#160;</div>
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                </td>
                <td style="width: 25.2pt; vertical-align: top; align: right;">a.</td>
                <td style="width: auto; vertical-align: top; text-align: justify;">
                  <div>Promoting the Company&#8217;s goals, work plan and long-term policies.</div>
                </td>
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          <div style="line-height: 1.25">&#160;</div>
          <table cellspacing="0" cellpadding="0" id="z8ece011ce1c14d3da9c82155f87118fb" class="DSPFListTable" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

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                <td style="width: 25.2pt; vertical-align: top; align: right;">b.</td>
                <td style="width: auto; vertical-align: top; text-align: justify;">
                  <div>Creating appropriate incentives for the Company&#8217;s Officers while keeping in mind the Company&#8217;s risk management.</div>
                </td>
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          <div style="line-height: 1.25">&#160;</div>
          <table cellspacing="0" cellpadding="0" id="z004549ec9ccd49928d630617eab58345" class="DSPFListTable" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

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                </td>
                <td style="width: 25.2pt; vertical-align: top; align: right;">c.</td>
                <td style="width: auto; vertical-align: top; text-align: justify;">
                  <div>The size of the Company and the nature of its activities.</div>
                </td>
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          <div style="line-height: 1.25">&#160;</div>
          <table cellspacing="0" cellpadding="0" id="z3a17d103e8204928a1ce551097b42697" class="DSPFListTable" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

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                </td>
                <td style="width: 25.2pt; vertical-align: top; align: right;">d.</td>
                <td style="width: auto; vertical-align: top; text-align: justify;">
                  <div>With regard to variable components of the Officers terms of service and employment - the Officer&#8217;s contribution to achieving the Company&#8217;s goals and maximizing profits; all with a long-term view and considering the position of each
                    Officer.</div>
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          <div style="line-height: 1.25">&#160;</div>
          <table cellspacing="0" cellpadding="0" id="z0dbcb9a0cf644fe0882e98dee7ff71c1" class="DSPFListTable" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

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                </td>
                <td style="width: 60.15pt; vertical-align: top; font-family: 'Times New Roman',Times,serif;">1.5.</td>
                <td style="width: auto; vertical-align: top; text-align: justify;">
                  <div><u>Objectives of the Compensation Policy</u></div>
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          <div style="line-height: 1.25">&#160;</div>
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                </td>
                <td style="width: 25.2pt; vertical-align: top; align: right;">a.</td>
                <td style="width: auto; vertical-align: top; text-align: justify;">
                  <div>Encouraging the maximization of the Company&#8217;s profits via compensation incentives.</div>
                </td>
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          <table cellspacing="0" cellpadding="0" id="z3d16a552b425474fa5b142174f2db60e" class="DSPFListTable" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

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                </td>
                <td style="width: 25.2pt; vertical-align: top; align: right;">b.</td>
                <td style="width: auto; vertical-align: top; text-align: justify;">
                  <div>Maximizing the Company&#8217;s performance without the Company&#8217;s Officers taking unreasonable risks.</div>
                </td>
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          <table cellspacing="0" cellpadding="0" id="z4720befa1e4a40fb8f8cb9bebd21b896" class="DSPFListTable" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

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                <td style="width: 25.2pt; vertical-align: top; align: right;">c.</td>
                <td style="width: auto; vertical-align: top; text-align: justify;">
                  <div>Supporting the implementation of the Company&#8217;s business strategy.</div>
                </td>
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          <div style="line-height: 1.25">&#160;</div>
          <table cellspacing="0" cellpadding="0" id="z99c8c995d5ae4292a076e9948ccc9c7a" class="DSPFListTable" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

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                </td>
                <td style="width: 25.2pt; vertical-align: top; align: right;">d.</td>
                <td style="width: auto; vertical-align: top; text-align: justify;">
                  <div>Promoting the alignment of the Officers&#8217; interests with those of the Company&#8217;s shareholders.</div>
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          <table cellspacing="0" cellpadding="0" id="z277e63a89c5f4f0d8d1c229d36a35e90" class="DSPFListTable" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

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                <td style="width: 25.2pt; vertical-align: top; align: right;">e.</td>
                <td style="width: auto; vertical-align: top; text-align: justify;">
                  <div>Increasing the Company&#8217;s ability to recruit and retain Officers who can lead the Company and meet the market&#8217;s challenges.</div>
                </td>
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          <div style="line-height: 1.25">&#160;</div>
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                <td style="width: 25.2pt; vertical-align: top; align: right;">f.</td>
                <td style="width: auto; vertical-align: top; text-align: justify;">
                  <div>Creating a balance between the various types of compensation components.</div>
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          <div style="line-height: 1.25">&#160;</div>
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                <td style="width: 60.15pt; vertical-align: top; font-family: 'Times New Roman',Times,serif;">1.6.</td>
                <td style="width: auto; vertical-align: top; text-align: justify;">
                  <div><u>Measures for setting the Compensation Policy</u></div>
                  <div><br>
                    <div style="line-height: 1.25; font-family: 'Times New Roman',Times,serif;">The Company&#8217;s compensation policy is based among other things, on the following measures:</div>
                    <u></u></div>
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          <div style="line-height: 1.25">&#160;</div>
          <div style="text-align: justify; line-height: 1.25; font-family: 'Times New Roman',Times,serif;"></div>
          <table cellspacing="0" cellpadding="0" id="zff75adeef3914ae2abaff12f024f3bda" class="DSPFListTable" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

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                <td style="width: 25.2pt; vertical-align: top; align: right;">a.</td>
                <td style="width: auto; vertical-align: top; text-align: justify;">
                  <div>Each Officer&#8217;s education, skills, expertise and achievements.</div>
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          <div style="line-height: 1.25">&#160;</div>
          <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" id="DSPFPageBreakArea">
            <div style="text-align: center;" id="DSPFPageNumberArea"><font style="font-weight: normal; font-style: normal;" id="DSPFPageNumber">A - 3</font></div>
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          </div>
          <div>
            <div style="line-height: 1.25;">Directors and Officers Compensation Policy &#8211; 2022
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          <div> <br>
          </div>
          <table cellspacing="0" cellpadding="0" id="z80fbd4d8b7784584b5c2c8dcad591f35" class="DSPFListTable" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

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                <td style="width: 25.2pt; vertical-align: top; align: right;">b.</td>
                <td style="width: auto; vertical-align: top; text-align: justify;">
                  <div>The positions, areas of responsibility and previous wage agreements signed with the Officers.</div>
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          <div style="line-height: 1.25">&#160;</div>
          <table cellspacing="0" cellpadding="0" id="z0167e56276534ea7b25c94e2733f74e7" class="DSPFListTable" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

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                <td style="width: 25.2pt; vertical-align: top; align: right;">c.</td>
                <td style="width: auto; vertical-align: top; text-align: justify;">
                  <div>The relationship between the fixed compensation components and the variable compensation components.</div>
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          <table cellspacing="0" cellpadding="0" id="z76104a8d2db14df8ba8306e8a30e89cb" class="DSPFListTable" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

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                <td style="width: 25.2pt; vertical-align: top; align: right;">d.</td>
                <td style="width: auto; vertical-align: top; text-align: justify;">
                  <div>An examination of the average terms of service and employment for the Officers in accordance with the Compensation Policy relative to the average and mean wage conditions of the Company&#8217;s employees and contract workers, and the
                    influence of the gaps between these conditions on the labor relations at the Company.</div>
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                <td style="width: 60.15pt; vertical-align: top; font-family: 'Times New Roman',Times,serif;">1.7.</td>
                <td style="width: auto; vertical-align: top; text-align: justify;">
                  <div><u>The Compensation Policy determination and approval process</u></div>
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          <div style="line-height: 1.25">&#160;</div>
          <div style="text-align: justify; margin-left: 79.9pt; line-height: 1.25; font-family: 'Times New Roman',Times,serif;">The Company&#8217;s BOD approved the Company&#8217;s Compensation Policy on November 11, 2019, following the adoption of the recommendations
            of the Company' Compensation Committee concerning the Compensation Policy. The Compensation Policy is subject to the approval of the General Assembly of the Company&#8217;s shareholders, in accordance with the provisions of section 267A(b) of the
            Companies Law. The above notwithstanding, the Company&#8217;s BOD may even set the Company&#8217;s Compensation Policy in the absence of the approval of the said General Assembly, in accordance with the provisions of section 267A(c) of the Companies Law.</div>
          <div style="line-height: 1.25">&#160;</div>
          <div>
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                  <td style="width: 17.85pt;">&#160;</td>
                  <td style="vertical-align: top; width: 60.15pt;">
                    <div style="line-height: 1.25;">1.8.</div>
                  </td>
                  <td style="align: left; vertical-align: top; width: auto;">
                    <div style="line-height: 1.25;"><u>Applicability</u></div>
                  </td>
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          </div>
          <div style="line-height: 1.25">&#160;</div>
          <table cellspacing="0" cellpadding="0" id="zf118bbfb33c34ee081565feced68939b" class="DSPFListTable" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

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                <td style="width: 25.2pt; vertical-align: top; align: right;">a.</td>
                <td style="width: auto; vertical-align: top; text-align: justify;">
                  <div>The Compensation Policy will be valid for a period of three years, effective from September 1, 2022, following the approval of all the required organizations, in accordance with the provisions of section 267A of the Companies Law
                    (the &#8220;<font style="font-weight: bold;">Applicable Date</font>&#8221;).</div>
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          <table cellspacing="0" cellpadding="0" id="zc023b12a123c43ea8d0ce713bc73d392" class="DSPFListTable" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

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                <td style="width: 25.2pt; vertical-align: top; align: right;">b.</td>
                <td style="width: auto; vertical-align: top; text-align: justify;">
                  <div>The Compensation Policy will apply to the Company&#8217;s Officers in accordance with the definition of the term &#8220;officers&#8221; in the Companies Law.</div>
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          <div style="line-height: 1.25">&#160;</div>
          <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" id="DSPFPageBreakArea">
            <div style="text-align: center;" id="DSPFPageNumberArea"><font style="font-weight: normal; font-style: normal;" id="DSPFPageNumber">A - 4</font></div>
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          <div>
            <div style="line-height: 1.25;">Directors and Officers Compensation Policy &#8211; 2022
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          <div> <br>
          </div>
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                <td style="width: 25.2pt; vertical-align: top; align: right;">c.</td>
                <td style="width: auto; vertical-align: top; text-align: justify;">
                  <div>Accordingly, this Compensation Policy is intended to set the compensation terms of the Officers serving in the Company as of the Applicable Date, and as such as will be from time to time, including:</div>
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                <td style="width: 19.6pt; vertical-align: top; align: right;">a)</td>
                <td style="width: auto; vertical-align: top; text-align: justify;">
                  <div>Members of the BOD;</div>
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                </td>
                <td style="width: 19.6pt; vertical-align: top; align: right;">b)</td>
                <td style="width: auto; vertical-align: top; text-align: justify;">
                  <div>The CEO</div>
                </td>
              </tr>

          </table>
          <div style="line-height: 1.25">&#160;</div>
          <table cellspacing="0" cellpadding="0" id="z9d6c932c005e4871bd4734b03d3f8f81" class="DSPFListTable" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

              <tr>
                <td style="width: 108pt;"><br>
                </td>
                <td style="width: 19.6pt; vertical-align: top; align: right;">c)</td>
                <td style="width: auto; vertical-align: top; text-align: justify;">
                  <div>The deputy CEO, vice presidents (chief officers)&#160; and/or other Company Officers (collectively the &#8220;<font style="font-weight: bold;">Company&#8217;s Officers</font>&#8221; or the &#8220;<font style="font-weight: bold;">Officers</font>&#8221;)</div>
                </td>
              </tr>

          </table>
          <div style="line-height: 1.25">&#160;</div>
          <table cellspacing="0" cellpadding="0" id="za92a19d3d5854b5e8cf33b76bab9c91b" class="DSPFListTable" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

              <tr>
                <td style="width: 17.85pt;"><br>
                </td>
                <td style="width: 60.15pt; vertical-align: top; font-family: 'Times New Roman',Times,serif;">1.9.</td>
                <td style="width: auto; vertical-align: top; text-align: justify;">
                  <div>The Compensation Policy, its principles and parameters shall not be construed as establishing any right for Company Officers and/or any other third party with respect to the Company. The Company Officers&#8217; rights with respect to the
                    Company will be determined and defined only in accordance with the provisions of the law, the employment agreements, the compensation plans and other agreements that will be signed, as such will be signed, with the Company Officers.</div>
                </td>
              </tr>

          </table>
          <div style="line-height: 1.25">&#160;</div>
          <div style="text-align: center; margin-right: 18pt; line-height: 1.25; font-weight: bold;"><u>Chapter 2 &#8211; The Compensation Components</u></div>
          <div style="line-height: 1.25">&#160;</div>
          <table cellspacing="0" cellpadding="0" id="zf4619f46fa9b49a085773afeebb3cc85" class="DSPFListTable" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

              <tr>
                <td style="width: 17.85pt; vertical-align: top; align: right;">2.</td>
                <td style="width: auto; vertical-align: top; text-align: justify;">
                  <div style="font-weight: bold;"><u>The components of the Company&#8217;s Compensation Policy</u></div>
                </td>
              </tr>

          </table>
          <div style="line-height: 1.25">&#160;</div>
          <table cellspacing="0" cellpadding="0" id="zf0c7637be4814e198810502bef46452b" class="DSPFListTable" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

              <tr>
                <td style="width: 17.85pt;"><br>
                </td>
                <td style="width: 60.15pt; vertical-align: top; font-family: 'Times New Roman',Times,serif;">2.1.</td>
                <td style="width: auto; vertical-align: top; text-align: justify;">
                  <div>The Compensation Policy for the Officers is composed of several components that combined to form an overall compensation appropriate for the Officers, in accordance with their duties and their contributions to the Company.</div>
                </td>
              </tr>

          </table>
          <div style="line-height: 1.25">&#160;</div>
          <table cellspacing="0" cellpadding="0" id="z19f01e1d5062482a8b3a4d6450936611" class="DSPFListTable" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

              <tr>
                <td style="width: 17.85pt;"><br>
                </td>
                <td style="width: 60.15pt; vertical-align: top; font-family: 'Times New Roman',Times,serif;">2.2.</td>
                <td style="width: auto; vertical-align: top; text-align: justify;">
                  <div>The Compensation Policy includes the following components:</div>
                </td>
              </tr>

          </table>
          <div style="line-height: 1.25">&#160;</div>
          <table cellspacing="0" cellpadding="0" id="za85d66edcedc470eb8b48a82cfff9d7c" class="DSPFListTable" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

              <tr>
                <td style="width: 78pt;"><br>
                </td>
                <td style="width: 25.2pt; vertical-align: top; align: right;">a.</td>
                <td style="width: auto; vertical-align: top; text-align: justify;">
                  <div><u>Base Salary </u>&#8211; this component consists of a monthly salary (in gross terms) or fixed monthly management fees, which correlates to the Officer&#8217;s education, skills, expertise, professional experience and takes into consideration
                    his achievements, jobs, areas of responsibility and previous wage agreements.</div>
                </td>
              </tr>

          </table>
          <div style="line-height: 1.25">&#160;</div>
          <table cellspacing="0" cellpadding="0" id="zc9862cebc19b4a1a9b105fa9fe6dd904" class="DSPFListTable" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

              <tr>
                <td style="width: 78pt;"><br>
                </td>
                <td style="width: 25.2pt; vertical-align: top; align: right;">b.</td>
                <td style="width: auto; vertical-align: top; text-align: justify;">
                  <div><u>Social and Fringe Benefits </u>&#8211; including pension savings, severance pay, disability insurance, vacation, sick leave, recreation pay, continuing education savings, reimbursement of expenses, use of a company car, mobile phone,
                    etc.</div>
                </td>
              </tr>

          </table>
          <div style="line-height: 1.25">&#160;</div>
          <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" id="DSPFPageBreakArea">
            <div style="text-align: center;" id="DSPFPageNumberArea"><font style="font-weight: normal; font-style: normal;" id="DSPFPageNumber">A - 5</font></div>
            <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="line-height: 1.25;">Directors and Officers Compensation Policy &#8211; 2022
              <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> <br>
          </div>
          <table cellspacing="0" cellpadding="0" id="zea597fe6377b4de18b0bc63a6f7c5fca" class="DSPFListTable" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

              <tr>
                <td style="width: 78pt;"><br>
                </td>
                <td style="width: 25.2pt; vertical-align: top; align: right;">c.</td>
                <td style="width: auto; vertical-align: top; text-align: justify;">
                  <div><u>Variable Rewards in cash (Bonus)</u>&#160;&#8211; designed as in incentive for Officers to promote and achieve the Company&#8217;s goals in the medium and long term.</div>
                </td>
              </tr>

          </table>
          <div style="line-height: 1.25">&#160;</div>
          <table cellspacing="0" cellpadding="0" id="zd8d58bbbbba240ba9550c527fe7c6ea0" class="DSPFListTable" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

              <tr>
                <td style="width: 78pt;"><br>
                </td>
                <td style="width: 25.2pt; vertical-align: top; align: right;">d.</td>
                <td style="width: auto; vertical-align: top; text-align: justify;">
                  <div><u>Equity-Based Compensation</u> &#8211; designed to create a link between actions that lead to maximizing the value of the Company&#8217;s shares over time and the reward given to the Officers for this maximizing, such that the link aligns the
                    Officers&#8217; interests with the interests of the Company&#8217;s shareholders and contributes to the Officers&#8217; motivation and the Company&#8217;s ability to retain quality Officers.</div>
                </td>
              </tr>

          </table>
          <div style="line-height: 1.25">&#160;</div>
          <table cellspacing="0" cellpadding="0" id="zf599ac4fe9ed466aab1800f573c0ff57" class="DSPFListTable" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

              <tr>
                <td style="width: 78pt;"><br>
                </td>
                <td style="width: 25.2pt; vertical-align: top; align: right;">e.</td>
                <td style="width: auto; vertical-align: top; text-align: justify;">
                  <div><u>End of service terms</u> &#8211; designed to arrange the terms at the end of the Officers&#8217; service at the Company, including in order to anchor the rights and obligations of the Company and the Officers toward one another.</div>
                </td>
              </tr>

          </table>
          <div style="line-height: 1.25">&#160;</div>
          <table cellspacing="0" cellpadding="0" id="zdead12d8e935451c9c7f266d395c417d" class="DSPFListTable" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

              <tr>
                <td style="width: 78pt;"><br>
                </td>
                <td style="width: 25.2pt; vertical-align: top; align: right;">f.</td>
                <td style="width: auto; vertical-align: top; text-align: justify;">
                  <div><u>Provisions to protect Officers </u>&#8211; include exemption, indemnification and responsibility insurance for Officers, and are designed to enable the Company to retain and recruit Officers suitable for serving in the Company, in
                    light of the Officers&#8217; personal exposure to the consequences of actions undertaken in the framework of their jobs at the Company.</div>
                </td>
              </tr>

          </table>
          <div style="line-height: 1.25">&#160;</div>
          <table cellspacing="0" cellpadding="0" id="zc5b57034bf664730b31160879ed4499f" class="DSPFListTable" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

              <tr>
                <td style="width: 17.85pt;"><br>
                </td>
                <td style="width: 60.15pt; vertical-align: top; font-family: 'Times New Roman',Times,serif;">2.3.</td>
                <td style="width: auto; vertical-align: top; text-align: justify;">
                  <div>Unless otherwise noted, the parameters for the fixed components<sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">1</sup> in the compensation relate to an Officer employed in a fulltime position. If the relevant Officer is not a salaried employee and/or is not employed fulltime,
                    the requisite adjustments must be made.<sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">2</sup> Thus for example, if an Officer is an independent contractor who provides the Company with services and is paid based on a tax receipt, the requisite adjustments will be made such that
                    the cost to the Company will not be higher than the cost if the worker were a salaried employee.</div>
                </td>
              </tr>

          </table>
          <div style="line-height: 1.25">&#160;</div>
          <table cellspacing="0" cellpadding="0" id="zef1f993f0d17412780148ebc7a3f3b20" class="DSPFListTable" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

              <tr>
                <td style="width: 17.85pt;"><br>
                </td>
                <td style="width: 60.15pt; vertical-align: top; font-family: 'Times New Roman',Times,serif;">2.4.</td>
                <td style="width: auto; vertical-align: top; text-align: justify;">
                  <div>The following policy rules concerning each of the Officers&#8217; compensation components set an upper or lower limit in certain instance, for the compensation component, based on certain criteria.<u>&#160;</u>It is important to note that the
                    Company is not obligated to grant the Officer all the components detailed in this Compensation Policy and is not obligated to grant the maximum or minimum rate set for each of the components, as relevant.</div>
                </td>
              </tr>

          </table>
          <div style="line-height: 1.25">
            <div><br>
            </div>
            <hr align="left" style="height: 1px; width: 10%; color: #000000; background-color: #000000; margin-left: 0px; margin-right: auto; border: none;">
            <table cellspacing="0" cellpadding="0" class="DSPFListTable" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

                <tr>
                  <td style="width: 19.85pt; vertical-align: top; align: right;"><sup style="vertical-align: text-top; line-height: 1; font-size: smaller;"><font style="font-weight: bold;">1</font> <br>
                    </sup></td>
                  <td style="width: auto; vertical-align: top; text-align: justify;">
                    <div>The fixed components in the Compensation Policy refer to the Base Salary and to the Social and Fringe Benefits.</div>
                  </td>
                </tr>

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

                <tr>
                  <td style="width: 19.85pt; vertical-align: top; font-family: 'Times New Roman',Times,serif; font-weight: bold;"><sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">2</sup></td>
                  <td style="width: auto; vertical-align: top; text-align: justify;">
                    <div>The above notwithstanding, the value of car use, mobile phone use and the advance notice period to which the Officer is eligible will not be adjusted to the actual scope of the Officer&#8217;s position.</div>
                  </td>
                </tr>

            </table>
            <div style="line-height: 1.25">&#160;</div>
          </div>
          <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" id="DSPFPageBreakArea">
            <div style="text-align: center;" id="DSPFPageNumberArea"><font style="font-weight: normal; font-style: normal;" id="DSPFPageNumber">A - 6</font></div>
            <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="line-height: 1.25;">Directors and Officers Compensation Policy &#8211; 2022
              <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> <br>
          </div>
          <table cellspacing="0" cellpadding="0" id="z0b53f9cf42544c2ea75cd744d851c2b1" class="DSPFListTable" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

              <tr>
                <td style="width: 17.85pt;"><br>
                </td>
                <td style="width: 60.15pt; vertical-align: top; font-family: 'Times New Roman',Times,serif;">2.5.</td>
                <td style="width: auto; vertical-align: top; text-align: justify;">
                  <div>The Compensation rules do not relate to various benefits whose value is not significant and which the Company grants to its workers. These benefits include: parking, newspaper subscriptions, Internet access, clothing, holiday gifts,
                    etc., and the Company will not be restricted in this regard.</div>
                </td>
              </tr>

          </table>
          <div style="line-height: 1.25">&#160;</div>
          <table cellspacing="0" cellpadding="0" id="z86529c29c9f54075a7498d01bae531f9" 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; vertical-align: top; align: right;">3.</td>
                <td style="width: auto; vertical-align: top; text-align: justify;">
                  <div><font style="font-weight: bold;"><u>Base Salary</u></font><sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">3</sup></div>
                </td>
              </tr>

          </table>
          <div style="line-height: 1.25">&#160;</div>
          <table cellspacing="0" cellpadding="0" id="z5d8efc2e332e439d83fec70e9e9cce90" class="DSPFListTable" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

              <tr>
                <td style="width: 17.85pt;"><br>
                </td>
                <td style="width: 60.15pt; vertical-align: top; font-family: 'Times New Roman',Times,serif;">3.1.</td>
                <td style="width: auto; vertical-align: top; text-align: justify;">
                  <div><u>Directors&#8217; compensation</u></div>
                </td>
              </tr>

          </table>
          <div style="line-height: 1.25">&#160;</div>
          <div style="margin: 0px 0px 0px 78pt; line-height: 1.25; text-align: justify;">The Company&#8217;s serving Directors, who are not employed by the Company and do not receive a salary as employees will be eligible for annual compensation, compensation
            for participating in board meetings (including in decisions in writing or via telephone) and reimbursement of expenses, all in accordance with the provisions of the Companies Law Regulations (Rules Regarding Compensation and Expenses for
            External Directors), 5760-2000, and as such will be amended from time to time (&#8220;<font style="font-weight: bold;">Compensation Laws</font>&#8221;<font style="font-weight: bold;">)</font>. The sum of the compensation, in accordance with the
            Compensation Laws, will be in keeping with the level of the Company&#8217;s equity (whatever this will be from time to time).</div>
          <div style="line-height: 1.25">&#160;</div>
          <hr align="left" style="height: 1px; width: 10%; color: #000000; background-color: #000000; margin-left: 0px; margin-right: auto; border: none;">
          <div style="line-height: 1.25">
            <div>
              <table cellspacing="0" cellpadding="0" style="width: 100%; font-family: 'Times New Roman', Times, serif; font-size: 10pt;" class="DSPFListTable">

                  <tr style="vertical-align: top;">
                    <td style="align: right; vertical-align: top; width: 9pt;"><sup style="vertical-align: text-top; line-height: 1; font-size: smaller;"><font style="font-weight: bold;">3</font></sup><br>
                    </td>
                    <td style="align: left; vertical-align: top; width: auto;">
                      <div style="text-align: justify; text-indent: -19.85pt; margin-left: 19.85pt; line-height: 1.25;">The base salary is in terms of gross salary and does not include social and fringe benefits</div>
                    </td>
                  </tr>

              </table>
            </div>
          </div>
          <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" id="DSPFPageBreakArea">
            <div style="text-align: center;" id="DSPFPageNumberArea"><font style="font-weight: normal; font-style: normal;" id="DSPFPageNumber">A - 7</font></div>
            <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">
            <div>
              <div>
                <div style="line-height: 1.25;">Directors and Officers Compensation Policy &#8211; 2022
                  <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> <br>
              </div>
              <table cellspacing="0" cellpadding="0" style="width: 100%; font-family: 'Times New Roman', Times, serif; font-size: 10pt;" class="DSPFListTable">

                  <tr style="vertical-align: top;">
                    <td style="width: 17.85pt;">&#160;</td>
                    <td style="vertical-align: top; width: 60.15pt;">
                      <div style="text-align: justify; line-height: 1.25; font-family: 'Times New Roman',Times,serif;">3.2.</div>
                    </td>
                    <td style="align: left; vertical-align: top; width: auto;">
                      <div style="text-align: justify; line-height: 1.25; font-family: 'Times New Roman',Times,serif;"><u>Maximum monthly base salary</u></div>
                    </td>
                  </tr>

              </table>
            </div>
            <div style="line-height: 1.25">&#160;</div>
          </div>
          <div style="margin-left: 81pt;">
            <table cellspacing="0" cellpadding="3" border="0" id="z1e6703ff2d2a40eea1582a39dd306da2" style="width: 60%; color: rgb(0, 0, 0); font-family: 'Times New Roman',Times,serif; font-size: 10pt; text-align: left;">

                <tr>
                  <td nowrap="nowrap" style="width: 40%; 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;">Officer</div>
                  </td>
                  <td nowrap="nowrap" style="width: 30%; 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;">Maximum monthly base salary (gross) in NIS</div>
                  </td>
                  <td style="width: 30%; 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 style="font-weight: bold;">Scope of position</font><sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">4</sup></div>
                  </td>
                </tr>
                <tr>
                  <td nowrap="nowrap" style="width: 40%; vertical-align: top; border-top: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0);">
                    <div style="line-height: 1.25; font-family: 'Times New Roman', Times, serif;">Active Chairman of the Board<sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">5</sup></div>
                  </td>
                  <td nowrap="nowrap" style="width: 30%; 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;">100,000</div>
                  </td>
                  <td style="width: 30%; 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;">As may be Required</div>
                  </td>
                </tr>
                <tr>
                  <td nowrap="nowrap" style="width: 40%; vertical-align: top; border-top: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0);">
                    <div style="line-height: 1.25; font-family: 'Times New Roman', Times, serif;">CEO</div>
                  </td>
                  <td nowrap="nowrap" style="width: 30%; 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;">95,000<sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">6</sup></div>
                  </td>
                  <td style="width: 30%; 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;">100%</div>
                  </td>
                </tr>
                <tr>
                  <td nowrap="nowrap" style="width: 40%; 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="line-height: 1.25; font-family: 'Times New Roman', Times, serif;">Deputy CEO, vice presidents and other Officers<sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">7</sup></div>
                  </td>
                  <td nowrap="nowrap" style="width: 30%; 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;">55,000</div>
                  </td>
                  <td style="width: 30%; 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;">100%</div>
                  </td>
                </tr>

            </table>
          </div>
          <div style="line-height: 1.25;"><br style="line-height: 1.25;">
          </div>
          <table cellspacing="0" cellpadding="0" id="zcb56fa8631f84a7c897e88c3ce20fca9" class="DSPFListTable" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

              <tr>
                <td style="width: 17.85pt;"><br>
                </td>
                <td style="width: 60.15pt; vertical-align: top; font-family: 'Times New Roman',Times,serif;">3.3.</td>
                <td style="width: auto; vertical-align: top; text-align: justify;">
                  <div><u>Linkage to the index</u></div>
                </td>
              </tr>

          </table>
          <div style="line-height: 1.25">&#160;</div>
          <div style="margin: 0px 0px 0px 78pt; line-height: 1.25; text-align: justify;">The ceiling of the base salary will be linked to the increase in the cost-of-living index that is published every month by the Central Bureau of Statistics.<sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">8</sup></div>
          <div style="line-height: 1.25">&#160;</div>
          <table cellspacing="0" cellpadding="0" id="z9ed75dec55ed4f4084add3c024ed4ee1" class="DSPFListTable" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

              <tr>
                <td style="width: 17.85pt;"><br>
                </td>
                <td style="width: 60.15pt; vertical-align: top; font-family: 'Times New Roman',Times,serif;">3.4.</td>
                <td style="width: auto; vertical-align: top; text-align: justify;">
                  <div><u>Comparison to the market - benchmark</u></div>
                </td>
              </tr>

          </table>
          <div style="line-height: 1.25">&#160;</div>
          <div style="margin: 0px 0px 0px 78pt; line-height: 1.25; text-align: justify;">In order to set the base salary when a new Officer is hired for the Company (&#8220;<font style="font-weight: bold;">a new Officer</font>&#8221;), or upon the approval of new
            terms of service and/or employment for an existing Officer, the Company&#8217;s BOD&#160;will, if necessary and in accordance with the BOD&#8217;s discretion, refer to the existing salary structure at the Company and, if the BOD considers it appropriate, to a
            survey of comparative data on the accepted salary for similar positions (as much as possible) (&#8220;<font style="font-weight: bold;">salary survey</font>&#8221;).</div>
          <div style="line-height: 1.25">&#160;<br>
            <hr noshade="noshade" align="left" style="background-color: #000000; border: 0px; height: 1px; width: 2in; margin-left: 0pt; margin-right: auto; color: #000000;">
            <div>
              <table cellspacing="0" cellpadding="0" style="width: 100%; font-family: 'Times New Roman', Times, serif; font-size: 10pt;" id="z80dc8042a593425fa5f6419dadbc0f07" class="DSPFListTable">

                  <tr style="vertical-align: top;">
                    <td style="vertical-align: top; width: 19.85pt;"><sup style="vertical-align: text-top; line-height: 1; font-size: smaller;"><font style="font-weight: bold;">4</font></sup><br>
                    </td>
                    <td style="vertical-align: top; width: auto;">
                      <div style="text-align: justify; line-height: 1.25;">If the Officer is employed less than fulltime, the ceiling for the monthly salary will be adjusted in accordance with the actual scope of the position.</div>
                    </td>
                  </tr>

              </table>
            </div>
            <div>
              <table cellspacing="0" cellpadding="0" style="width: 100%; font-family: 'Times New Roman', Times, serif; font-size: 10pt;" id="z6a964704dc12415a869b68f5908925d6" class="DSPFListTable">

                  <tr style="vertical-align: top;">
                    <td style="vertical-align: top; width: 19.85pt;"><font style="font-weight: bold;"><sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">5</sup></font><br>
                    </td>
                    <td style="vertical-align: top; width: auto;">
                      <div style="text-align: justify; line-height: 1.25;">An active chairman of the board is a chairman of the board who proves services to the Company that are supplementary to the services he grants the Company in his capacity as a
                        member of the Company&#8217;s BOD (including his position as chairman of the board).</div>
                    </td>
                  </tr>

              </table>
            </div>
            <div>
              <table cellspacing="0" cellpadding="0" style="width: 100%; font-family: 'Times New Roman', Times, serif; font-size: 10pt;" id="z0bdb20084e334d4a8ee5f254cd85faba" class="DSPFListTable">

                  <tr style="vertical-align: top;">
                    <td style="vertical-align: top; width: 19.85pt;"><font style="font-weight: bold;"><sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">6</sup></font><br>
                    </td>
                    <td style="vertical-align: top; width: auto;">
                      <div style="text-align: justify; line-height: 1.25;"><font style="font-style: italic;">An incremental allowance (&#8220;Tosefet Yoker&#8221;) shall be included in the CEO's Salary in accordance with provisions of the general collective
                          agreements, and the expansion orders dealing with incremental allowances, and as shall be updated from time to time.</font></div>
                    </td>
                  </tr>

              </table>
            </div>
            <div>
              <table cellspacing="0" cellpadding="0" style="width: 100%; font-family: 'Times New Roman', Times, serif; font-size: 10pt;" id="z8a5ed60e4a4148d0aebdea3fae41279d" class="DSPFListTable">

                  <tr style="vertical-align: top;">
                    <td style="vertical-align: top; width: 19.85pt;"><font style="font-weight: bold;"><sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">7</sup></font><br>
                    </td>
                    <td style="vertical-align: top; width: auto;">
                      <div style="text-align: justify; line-height: 1.25;">Officers, if and inasmuch as these will be in the future, who are not chairman of the board, CEO, deputy CEO or vice president (&#8220;<font style="font-weight: bold;">other officers</font>&#8221;).</div>
                    </td>
                  </tr>

              </table>
            </div>
            <table cellspacing="0" cellpadding="0" id="z53d068e666ff4b3fa9a40d79a526fc69" class="DSPFListTable" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

                <tr>
                  <td style="width: 19.85pt; vertical-align: top; font-family: 'Times New Roman',Times,serif; font-weight: bold;"><sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">8</sup></td>
                  <td style="width: auto; vertical-align: top; text-align: justify;">
                    <div>The base index for calculating the linkage of the compensation elements in accordance with this Compensation Policy will be the index published at the time of the approval of the Compensation Policy by the Company&#8217;s BOD.</div>
                  </td>
                </tr>

            </table>
          </div>
          <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" id="DSPFPageBreakArea">
            <div style="text-align: center;" id="DSPFPageNumberArea"><font style="font-weight: normal; font-style: normal;" id="DSPFPageNumber">A - 8</font></div>
            <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">
            <div style="line-height: 1.25;">Directors and Officers Compensation Policy &#8211; 2022
              <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><br>
            </div>
          </div>
          <div style="margin: 0px 0px 0px 78pt; line-height: 1.25; text-align: justify;">If the BOD decides to conduct a salary survey, the characteristics of the companies in the salary survey for the purpose of conducting the said comparison will be: a)
            technology companies, with a preference for those involved in the electronics industry; or b) public companies with a market value similar to that of the Company; or c) companies with revenues similar to those of the Company (severally and
            separately: the &#8220;<font style="font-weight: bold;">sample companies</font>&#8221;). In the event that the sample companies do not have a position identical to that of the Officer, the Company may conduct the comparative data survey of the employment
            terms of officers with similar seniority and/or a similar position (as much as possible) among other public companies (whose characteristics are not necessarily consistent with a), b) and c) above in this paragraph).</div>
          <div style="line-height: 1.25">&#160;</div>
          <table cellspacing="0" cellpadding="0" id="zf0bfb4211145431ba95867efd0c02384" class="DSPFListTable" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

              <tr>
                <td style="width: 17.85pt;"><br>
                </td>
                <td style="width: 60.15pt; vertical-align: top; font-family: 'Times New Roman',Times,serif;">3.5.</td>
                <td style="width: auto; vertical-align: top; text-align: justify;">
                  <div><u>Updating the base salary</u></div>
                </td>
              </tr>

          </table>
          <div style="line-height: 1.25">&#160;</div>
          <div style="margin: 0px 0px 0px 78pt; line-height: 1.25; text-align: justify;">From time to tome the Company&#8217;s Compensation Committee and BOD may update the base salary paid to an Officer of the Company, in accordance with the parameters set by
            this Compensation Policy, including in consideration of his education, skills, expertise and professional experience, as well as the Officer&#8217;s achievements, his position, areas of responsibility and previous wage agreements that have been
            signed with him.</div>
          <div style="line-height: 1.25">&#160;</div>
          <table cellspacing="0" cellpadding="0" id="za6cf3a32bc2c497d8ea6af20f8ae065f" class="DSPFListTable" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

              <tr>
                <td style="width: 17.85pt;"><br>
                </td>
                <td style="width: 60.15pt; vertical-align: top; font-family: 'Times New Roman',Times,serif;">3.6.</td>
                <td style="width: auto; vertical-align: top; text-align: justify;">
                  <div>The Company&#8217;s Officers (apart from the Directors who are not employed by the Company in additional positions) will be eligible for social and fringe benefits as detailed in section 4, below.</div>
                </td>
              </tr>

          </table>
          <div style="line-height: 1.25">&#160;</div>
          <table cellspacing="0" cellpadding="0" id="z4271e2915afc44fd9239811a11a55ccc" 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; vertical-align: top; align: right;">4.</td>
                <td style="width: auto; vertical-align: top; text-align: justify;">
                  <div style="font-weight: bold;"><u>Social and fringe benefits</u></div>
                </td>
              </tr>

          </table>
          <div style="line-height: 1.25">&#160;</div>
          <table cellspacing="0" cellpadding="0" id="z7baad43bfd294e1ab9d0e720174ce343" class="DSPFListTable" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

              <tr>
                <td style="width: 17.85pt;"><br>
                </td>
                <td style="width: 60.15pt; vertical-align: top; font-family: 'Times New Roman',Times,serif;">4.1.</td>
                <td style="width: auto; vertical-align: top; text-align: justify;">
                  <div><u>Pension contributions</u></div>
                </td>
              </tr>

          </table>
          <div style="line-height: 1.25">&#160;</div>
          <div style="margin: 0px 0px 0px 78pt; line-height: 1.25; text-align: justify;">The Company will contribute each month to a life insurance and long-term disability insurance plan, a pension fund or a provident pension fund, or to a combined life
            insurance, disability and provident pension fund (the &#8220;<font style="font-weight: bold;">Plan</font>&#8221;)<font style="font-weight: bold;">&#160;</font> in accordance with the relevant Officer&#8217;s choice, and will undertake the contributions to the
            compensation, severance pay and disability funds in accordance with the plan chosen, in compliance with the law and considering the custom in the market sector of the Company&#8217;s operations and the Company&#8217;s policy in this matter. The
            contributions will be subject to Section 14 of the Severance Pay Act. The basis for the contributions will be up to 100% of the base salary.</div>
          <div style="line-height: 1.25">&#160;</div>
          <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" id="DSPFPageBreakArea">
            <div style="text-align: center;" id="DSPFPageNumberArea"><font style="font-weight: normal; font-style: normal;" id="DSPFPageNumber">A - 9</font></div>
            <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="line-height: 1.25;">Directors and Officers Compensation Policy &#8211; 2022
              <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><br>
            </div>
          </div>
          <table cellspacing="0" cellpadding="0" id="zcb3e3e7186b7432689d71ed04e47e110" class="DSPFListTable" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

              <tr>
                <td style="width: 17.85pt;"><br>
                </td>
                <td style="width: 60.15pt; vertical-align: top; font-family: 'Times New Roman',Times,serif;">4.2.</td>
                <td style="width: auto; vertical-align: top; text-align: justify;">
                  <div><u>Contributions to continuing education funds</u></div>
                </td>
              </tr>

          </table>
          <div style="line-height: 1.25">&#160;</div>
          <div style="margin: 0px 0px 0px 78pt; line-height: 1.25; text-align: justify;">To the extent that the Officer&#8217;s terms of employment include contributions to a continuing education fund, the Company will undertake the contributions to the
            continuing education fund, in accordance with the Officer&#8217;s choice, in compliance with the law and considering the custom in the market sector of the Company&#8217;s operations and the Company&#8217;s policy in this matter. The basis for the contributions
            to a continuing education fund may be the full base salary.</div>
          <div style="line-height: 1.25">&#160;</div>
          <table cellspacing="0" cellpadding="0" id="zd9cb384dda4c472d849ebde9b58082fa" class="DSPFListTable" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

              <tr>
                <td style="width: 17.85pt;"><br>
                </td>
                <td style="width: 60.15pt; vertical-align: top; font-family: 'Times New Roman',Times,serif;">4.3.</td>
                <td style="width: auto; vertical-align: top; text-align: justify;">
                  <div><u>Sick leave and sick pay</u></div>
                </td>
              </tr>

          </table>
          <div style="line-height: 1.25">&#160;</div>
          <div style="margin: 0px 0px 0px 78pt; line-height: 1.25; text-align: justify;">The Company&#8217;s Officers will be eligible for full pay for sick days starting from the first day.</div>
          <div style="line-height: 1.25">&#160;</div>
          <table cellspacing="0" cellpadding="0" id="z2862e40eed6f4782a1134f4ec4dac05e" class="DSPFListTable" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

              <tr>
                <td style="width: 17.85pt;"><br>
                </td>
                <td style="width: 60.15pt; vertical-align: top; font-family: 'Times New Roman',Times,serif;">4.4.</td>
                <td style="width: auto; vertical-align: top; text-align: justify;">
                  <div><u>Recreation pay</u></div>
                </td>
              </tr>

          </table>
          <div style="line-height: 1.25">&#160;</div>
          <div style="margin: 0px 0px 0px 78pt; line-height: 1.25; text-align: justify;">The Company&#8217;s Officers will be eligible for recreation pay at the maximum rate, in accordance with the law.</div>
          <div style="line-height: 1.25">&#160;</div>
          <table cellspacing="0" cellpadding="0" id="zcbabdf8de5f34f52b50c986c94746101" class="DSPFListTable" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

              <tr>
                <td style="width: 17.85pt;"><br>
                </td>
                <td style="width: 60.15pt; vertical-align: top; font-family: 'Times New Roman',Times,serif;">4.5.</td>
                <td style="width: auto; vertical-align: top; text-align: justify;">
                  <div><u>Annual vacation</u></div>
                </td>
              </tr>

          </table>
          <div style="line-height: 1.25">&#160;</div>
          <table cellspacing="0" cellpadding="0" id="z0a07d21c7aff4345b9d0a2da70ee7f59" class="DSPFListTable" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

              <tr>
                <td style="width: 78pt;"><br>
                </td>
                <td style="width: 25.2pt; vertical-align: top; align: right;">a.</td>
                <td style="width: auto; vertical-align: top; text-align: justify;">
                  <div>Each of the Company&#8217;s Officers will be eligible for annual vacation<sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">9</sup> amounting to no less than the minimum number of days established by the Annual Vacation Law 5711-1951 (the &#8220;<font style="font-weight: bold;">Annual
                      Vacation Law</font>&#8221;) and the extension order for the metals, electricity and electronics industry and will not exceed the total maximum days specified in the table below for each work-year, as defined in the&#160; Annual Vacation Law, in
                    the year he serves in his position:</div>
                </td>
              </tr>

          </table>
          <div style="line-height: 1.25">&#160;</div>
          <div style="margin-left: 108pt;">
            <table cellspacing="0" cellpadding="3" border="0" id="z04bd755e67bc4ebc9988460d79a5704c" style="width: 60%; color: rgb(0, 0, 0); font-family: 'Times New Roman',Times,serif; font-size: 10pt; text-align: left;">

                <tr>
                  <td nowrap="nowrap" style="width: 50%; 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;">Officer</div>
                  </td>
                  <td nowrap="nowrap" style="width: 50%; 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;">Maximum total number of days*</div>
                    <div style="text-align: center; line-height: 1.25; font-family: 'Times New Roman', Times, serif; font-weight: bold;">(in terms of work days)</div>
                  </td>
                </tr>
                <tr>
                  <td nowrap="nowrap" style="width: 50%; vertical-align: top; border-top: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0);">
                    <div style="line-height: 1.25; font-family: 'Times New Roman', Times, serif;">Active Chairman of the Board, CEO</div>
                  </td>
                  <td nowrap="nowrap" style="width: 50%; 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;">24</div>
                  </td>
                </tr>
                <tr>
                  <td nowrap="nowrap" style="width: 50%; 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="line-height: 1.25; font-family: 'Times New Roman', Times, serif;">Deputy CEO, vice presidents and other Officers</div>
                  </td>
                  <td nowrap="nowrap" style="width: 50%; 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;">24</div>
                  </td>
                </tr>

            </table>
          </div>
          <div style="text-align: justify; margin-left: 78pt; line-height: 1.25;"> <br>
          </div>
          <div style="text-align: justify; margin-left: 105pt; line-height: 1.25; font-family: 'Times New Roman',Times,serif;">* Including the right to be absent for &#8220;optional days&#8221;</div>
          <div style="line-height: 1.25">&#160;</div>
          <div style="line-height: 1.25">
            <hr align="left" style="height: 1px; width: 10%; color: #000000; background-color: #000000; margin-left: 0px; margin-right: auto; border: none;"> </div>
          <div style="line-height: 1.25">
            <div>
              <table cellspacing="0" cellpadding="0" style="width: 100%; font-family: 'Times New Roman', Times, serif; font-size: 10pt;" class="DSPFListTable">

                  <tr style="vertical-align: top;">
                    <td style="vertical-align: top; width: 19.85pt;"><font style="font-weight: bold;"><sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">9</sup></font><br>
                    </td>
                    <td style="align: left; vertical-align: top; width: auto;">
                      <div style="text-align: justify; text-indent: -19.85pt; margin-left: 19.85pt; line-height: 1.25;">Vacation days are calculated based on a 5-day work week.</div>
                    </td>
                  </tr>

              </table>
            </div>
            <div style="line-height: 1.25">&#160;</div>
          </div>
          <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" id="DSPFPageBreakArea">
            <div style="text-align: center;" id="DSPFPageNumberArea"><font style="font-weight: normal; font-style: normal;" id="DSPFPageNumber">A - 10</font></div>
            <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="line-height: 1.25;">Directors and Officers Compensation Policy &#8211; 2022
              <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><br>
            </div>
          </div>
          <table cellspacing="0" cellpadding="0" id="zea0b7a4cd178418898939045ccc8c76e" class="DSPFListTable" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

              <tr>
                <td style="width: 78pt;"><br>
                </td>
                <td style="width: 25.2pt; vertical-align: top; align: right;">b.</td>
                <td style="width: auto; vertical-align: top; text-align: justify;">
                  <div>If the Officer does not serve in his position for a full work-year, the maximum number of vacation days for which he is eligible (in terms of work days) will be adjusted in accordance with the law.</div>
                </td>
              </tr>

          </table>
          <div style="line-height: 1.25">&#160;</div>
          <table cellspacing="0" cellpadding="0" id="za7e29e379ef7442280e866223dac158a" class="DSPFListTable" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

              <tr>
                <td style="width: 78pt;"><br>
                </td>
                <td style="width: 25.2pt; vertical-align: top; align: right;">c.</td>
                <td style="width: auto; vertical-align: top; text-align: justify;">
                  <div>An Officer at the Company may accrue vacation days that he is not obligated to use under the Annual Vacation Law up to the limit set by the law (<font style="font-weight: bold;">the </font>&#8220;<font style="font-weight: bold;">cumulative

                      ceiling</font>&#8221;).</div>
                </td>
              </tr>

          </table>
          <div style="line-height: 1.25">&#160;</div>
          <table cellspacing="0" cellpadding="0" id="z8c150a5bc77842098eb5e59ba8b92514" class="DSPFListTable" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

              <tr>
                <td style="width: 78pt;"><br>
                </td>
                <td style="width: 25.2pt; vertical-align: top; align: right;">d.</td>
                <td style="width: auto; vertical-align: top; text-align: justify;">
                  <div>Throughout the duration of the Officer&#8217;s service and subject to the Company&#8217;s approval or to the provisions of the Officer&#8217;s employment agreement and subject to the law, the Officer may redeem the vacation days that he has accrued.</div>
                </td>
              </tr>

          </table>
          <div style="line-height: 1.25">&#160;</div>
          <table cellspacing="0" cellpadding="0" id="z1f3bec8b4cab4c4396cfffec2bd37c0e" class="DSPFListTable" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

              <tr>
                <td style="width: 78pt;"><br>
                </td>
                <td style="width: 25.2pt; vertical-align: top; align: right;">e.</td>
                <td style="width: auto; vertical-align: top; text-align: justify;">
                  <div>Upon the completion of his service at the Company, an Officer may redeem the vacation days he has accrued.</div>
                </td>
              </tr>

          </table>
          <div style="line-height: 1.25">&#160;</div>
          <table cellspacing="0" cellpadding="0" id="ze62f26ca1e5446c0aae3020bd329ac90" class="DSPFListTable" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

              <tr>
                <td style="width: 17.85pt;"><br>
                </td>
                <td style="width: 60.15pt; vertical-align: top; font-family: 'Times New Roman',Times,serif;">4.6.</td>
                <td style="width: auto; vertical-align: top; text-align: justify;">
                  <div><u>Company car</u></div>
                </td>
              </tr>

          </table>
          <div style="line-height: 1.25">&#160;</div>
          <div style="margin: 0px 0px 0px 78pt; line-height: 1.25; text-align: justify;">The Company may provide a car for the personal use of an Officer and cover the costs of the use and maintenance of the car. The Company will not gross up the value of
            this benefit and the Officer will bear the cost of the income tax. The type of car provided to an Officer will be in keeping with his position, as follows:</div>
          <div style="line-height: 1.25">&#160;</div>
          <div style="margin-left: 81pt;">
            <table cellspacing="0" cellpadding="3" border="0" id="z9052d2f7efe8483b936dd4a59ab62eec" style="width: 60%; color: rgb(0, 0, 0); font-family: 'Times New Roman',Times,serif; font-size: 10pt; text-align: left;">

                <tr>
                  <td nowrap="nowrap" style="width: 50%; 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;">Officer</div>
                  </td>
                  <td nowrap="nowrap" style="width: 50%; 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 style="font-weight: bold;">Car price ceiling (NIS</font><sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">10</sup><font style="font-weight: bold;">)</font></div>
                  </td>
                </tr>
                <tr>
                  <td nowrap="nowrap" style="width: 50%; vertical-align: top; border-top: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0);">
                    <div style="line-height: 1.25; font-family: 'Times New Roman', Times, serif;">Active Chairman of the Board</div>
                  </td>
                  <td nowrap="nowrap" style="width: 50%; 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;">Up to NIS 300,000</div>
                  </td>
                </tr>
                <tr>
                  <td nowrap="nowrap" style="width: 50%; vertical-align: top; border-top: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0);">
                    <div style="line-height: 1.25; font-family: 'Times New Roman', Times, serif;">CEO</div>
                  </td>
                  <td nowrap="nowrap" style="width: 50%; 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;">Up to NIS <strike>250</strike>300,000</div>
                  </td>
                </tr>
                <tr>
                  <td nowrap="nowrap" style="width: 50%; 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="line-height: 1.25; font-family: 'Times New Roman', Times, serif;">Deputy CEO, vice presidents and other Officers</div>
                  </td>
                  <td nowrap="nowrap" style="width: 50%; 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;">Up to NIS <strike>180</strike>220,000</div>
                  </td>
                </tr>

            </table>
          </div>
          <div style="line-height: 1.25;"><br style="line-height: 1.25;">
          </div>
          <div style="line-height: 1.25;">
            <hr align="left" style="height: 1px; width: 10%; color: #000000; background-color: #000000; margin-left: 0px; margin-right: auto; border: none;">
            <div>
              <table cellspacing="0" cellpadding="0" style="width: 100%; font-family: 'Times New Roman', Times, serif; font-size: 10pt;" class="DSPFListTable">

                  <tr style="vertical-align: top;">
                    <td style="vertical-align: top; width: 19.85pt;"><font style="font-weight: bold;"><sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">10</sup></font><br>
                    </td>
                    <td style="align: left; vertical-align: top; width: auto;">
                      <div style="text-align: justify; text-indent: -19.85pt; margin-left: 19.85pt; line-height: 1.25;">The car price ceiling will be linked to the Cost of Living Index.</div>
                    </td>
                  </tr>

              </table>
            </div>
            <div>
              <div>&#160;</div>
            </div>
          </div>
          <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" id="DSPFPageBreakArea">
            <div style="text-align: center;" id="DSPFPageNumberArea"><font style="font-weight: normal; font-style: normal;" id="DSPFPageNumber">A - 11</font></div>
            <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>
          <!--PROfilePageNumberReset%Num%12%A - %%-->
          <div style="line-height: 1.25">&#160;
            <div style="line-height: 1.25;">Directors and Officers Compensation Policy &#8211; 2022
              <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><br>
            </div>
          </div>
          <table cellspacing="0" cellpadding="0" id="zda09b49ea62d4a36bc46e8c3c24a1e8d" class="DSPFListTable" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

              <tr>
                <td style="width: 17.85pt;"><br>
                </td>
                <td style="width: 60.15pt; vertical-align: top; font-family: 'Times New Roman',Times,serif;">4.7.</td>
                <td style="width: auto; vertical-align: top; text-align: justify;">
                  <div><u>Mobile phone</u></div>
                </td>
              </tr>

          </table>
          <div style="line-height: 1.25">&#160;</div>
          <div style="margin: 0px 0px 0px 78pt; line-height: 1.25; text-align: justify;">The Company may provide Officers, excluding Directors, with a mobile phone and bear all the accompanying costs. The Company will not gross up the value of this benefit
            and the Officer will bear the cost of the income tax.</div>
          <div style="line-height: 1.25">&#160;</div>
          <table cellspacing="0" cellpadding="0" id="z86193cf857b146dbab915a8b50ed5f51" class="DSPFListTable" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

              <tr>
                <td style="width: 17.85pt;"><br>
                </td>
                <td style="width: 60.15pt; vertical-align: top; font-family: 'Times New Roman',Times,serif;">4.8.</td>
                <td style="width: auto; vertical-align: top; text-align: justify;">
                  <div><u>Reimbursement of expenses</u></div>
                </td>
              </tr>

          </table>
          <div style="line-height: 1.25">&#160;</div>
          <table cellspacing="0" cellpadding="0" id="zf3b9138f2573493ab13cafc568d0f8ef" class="DSPFListTable" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

              <tr>
                <td style="width: 78pt;"><br>
                </td>
                <td style="width: 25.2pt; vertical-align: top; align: right;">a.</td>
                <td style="width: auto; vertical-align: top; text-align: justify;">
                  <div>An Officer at the Company is eligible for the reimbursement of the customary and accepted types of expenses in the Company&#8217;s business sphere, including the cost of hosting guests in Israel and abroad, travel and parking expenses,
                    etc. that are reasonable in the relevant circumstances, considering the Officer&#8217;s position, the scope of each expense and its necessity, and the provisions of the Company&#8217;s reimbursement of expenses procedures (including obtaining
                    approval in advance, if required); subject to the said expenses being incurred in the framework of the Officer&#8217;s fulfilling his duties in connection with the Company&#8217;s operations and for the purpose of promoting its interests.</div>
                </td>
              </tr>

          </table>
          <div style="line-height: 1.25">&#160;</div>
          <table cellspacing="0" cellpadding="0" id="z89b9daa0932d43018d4816626dd3a940" class="DSPFListTable" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

              <tr>
                <td style="width: 78pt;"><br>
                </td>
                <td style="width: 25.2pt; vertical-align: top; align: right;">b.</td>
                <td style="width: auto; vertical-align: top; text-align: justify;">
                  <div>In accordance with the Company&#8217;s petty cash procedure and reimbursement of expenses procedure, every Officer is obligated to submit original receipts to the Company&#8217;s accountant in order to receive reimbursement for expenses incurred
                    on the job.</div>
                </td>
              </tr>

          </table>
          <div style="line-height: 1.25">&#160;</div>
          <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" id="DSPFPageBreakArea">
            <div style="text-align: center;" id="DSPFPageNumberArea"><font style="font-weight: normal; font-style: normal;" id="DSPFPageNumber">A - 12</font></div>
            <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">
            <div style="line-height: 1.25">
              <div style="line-height: 1.25;">Directors and Officers Compensation Policy &#8211; 2022
                <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><br>
              </div>
            </div>
            <table cellspacing="0" cellpadding="0" class="DSPFListTable" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

                <tr>
                  <td style="width: 17.85pt;"><br>
                  </td>
                </tr>

            </table>
          </div>
          <div style="line-height: 1.25"> <br>
          </div>
          <table cellspacing="0" cellpadding="0" id="z757ae4f31935472898f43b71292eddf4" class="DSPFListTable" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

              <tr>
                <td style="width: 17.85pt;"><br>
                </td>
                <td style="width: 60.15pt; vertical-align: top; font-family: 'Times New Roman',Times,serif;">4.9.</td>
                <td style="width: auto; vertical-align: top; text-align: justify;">
                  <div>If the Officer provides services to the Company as an independent contractor, or via a management company he controls, the BOD has the authority to grant the Officer the fringe benefits detailed in clauses 4.3-4.8 above (as relevant
                    in each case), which will be added to the management fees.</div>
                </td>
              </tr>

          </table>
          <div style="line-height: 1.25">&#160;</div>
          <table cellspacing="0" cellpadding="0" id="z51552bf773624f85adfd948adb361b4b" 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; vertical-align: top; align: right;">5.</td>
                <td style="width: auto; vertical-align: top; text-align: justify;">
                  <div style="font-weight: bold;"><u>Bonuses</u></div>
                </td>
              </tr>

          </table>
          <div style="line-height: 1.25">&#160;</div>
          <table cellspacing="0" cellpadding="0" id="zbd028a80242b4d67a7a0ef49f8ee6d13" class="DSPFListTable" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

              <tr>
                <td style="width: 17.85pt;"><br>
                </td>
                <td style="width: 60.15pt; vertical-align: top; font-family: 'Times New Roman',Times,serif;">5.1.</td>
                <td style="width: auto; vertical-align: top; text-align: justify;">
                  <div>the Company may grant the Officers bonuses based on financial results or based on other measurable parameters, as well as other bonuses in accordance with the Company&#8217;s discretion (and subject to the provisions of the law and the
                    obtaining of the requisite approvals). Such bonuses will be in accordance with the Company&#8217;s bonuses policy, which reflects the Company&#8217;s risk management policy and whose objectives are: to promote the improvement of the Company&#8217;s
                    business conduct and profitability; to achieve the Company&#8217;s long-term goals; to increase the Officers&#8217; satisfaction and motivation; to increase each Officer&#8217;s contribution to achieving the Company&#8217;s goals and maximizing its profits,
                    all with a long-term view and considering the Officer&#8217;s position; and the correlation of some of the Company&#8217;s compensation costs to its financial performance.</div>
                </td>
              </tr>

          </table>
          <div style="line-height: 1.25">&#160;</div>
          <table cellspacing="0" cellpadding="0" id="z59c543badab841b697ecc64f70df50df" class="DSPFListTable" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

              <tr>
                <td style="width: 17.85pt;"><br>
                </td>
                <td style="width: 60.15pt; vertical-align: top; font-family: 'Times New Roman',Times,serif;">5.2.</td>
                <td style="width: auto; vertical-align: top; text-align: justify;">
                  <div><u>Annual Bonus Plan</u></div>
                </td>
              </tr>

          </table>
          <div style="line-height: 1.25">&#160;</div>
          <table cellspacing="0" cellpadding="0" id="z519d05e5bb3044fc8d9940ffdb0a61d9" class="DSPFListTable" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

              <tr>
                <td style="width: 78pt;"><br>
                </td>
                <td style="width: 25.2pt; vertical-align: top; align: right;">a.</td>
                <td style="width: auto; vertical-align: top; text-align: justify;">
                  <div>Each year, after receiving a recommendation from the Compensation Committee, the BOD may approve an Annual Bonus Plan for the Company&#8217;s Officers (the `&#8220;<font style="font-weight: bold;">Annual Bonus Plan&#8221;</font>);</div>
                </td>
              </tr>

          </table>
          <div style="line-height: 1.25">&#160;</div>
          <table cellspacing="0" cellpadding="0" id="za116db9f01d04acdbb0dbd9fd65ed759" class="DSPFListTable" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

              <tr>
                <td style="width: 78pt;"><br>
                </td>
                <td style="width: 25.2pt; vertical-align: top; align: right;"><strike>b.</strike></td>
                <td style="width: auto; vertical-align: top; text-align: justify;">
                  <div>The Annual Bonus Plan will be based upon at least <strike>2</strike>&#160;<font style="font-style: italic;">one</font> pre-defined measurable criteria such as: pre-tax profit, net profit, gross profit, operating profit, EBITDA, sales,
                    (positive) cash flow, capital raising for the company, or any other measurable financial criteria, amount of work accidents, yield, time compliance (customer order execution) (collectively, the "<font style="font-weight: bold;">Criteria</font>"),<strike>such


                      that the Criteria with the highest rate (as set forth in Section 5.2.c below) shall be based on data from the Company's income statement.</strike></div>
                </td>
              </tr>

          </table>
          <div style="line-height: 1.25">&#160;</div>
          <table cellspacing="0" cellpadding="0" id="za7041e8ec9d2468591e92af21f09b6a5" class="DSPFListTable" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

              <tr>
                <td style="width: 78pt;"><br>
                </td>
                <td style="width: 25.2pt; vertical-align: top; align: right;"><strike>c.</strike></td>
                <td style="width: auto; vertical-align: top; text-align: justify;">
                  <div><font style="font-style: italic;">Reserved </font><strike>.</strike><strike>The percentage of each Criteria comprising the Bonus shall not exceed 50%.</strike></div>
                </td>
              </tr>

          </table>
          <div style="line-height: 1.25">&#160;</div>
          <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" id="DSPFPageBreakArea">
            <div style="text-align: center;" id="DSPFPageNumberArea"><font style="font-weight: normal; font-style: normal; font-family: 'Times New Roman',Times,serif;" id="DSPFPageNumber">A - 13</font></div>
            <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">
            <div style="line-height: 1.25;">Directors and Officers Compensation Policy &#8211; 2022
              <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><br>
            </div>
          </div>
          <div style="margin-left: 108pt;">
            <table cellspacing="0" cellpadding="3" border="0" id="z251b540f98d34c229dd2e2e3bcd02d4f" style="width: 60%; color: rgb(0, 0, 0); font-family: 'Times New Roman',Times,serif; font-size: 10pt; text-align: left;">

                <tr>
                  <td nowrap="nowrap" style="width: 50%; vertical-align: top; border-top: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0);">&#160;</td>
                  <td nowrap="nowrap" style="width: 50%; 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 nowrap="nowrap" style="width: 50%; vertical-align: top; border-top: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0);">&#160;</td>
                  <td nowrap="nowrap" style="width: 50%; 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 nowrap="nowrap" style="width: 50%; vertical-align: top; border-top: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0);">&#160;</td>
                  <td nowrap="nowrap" style="width: 50%; 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 nowrap="nowrap" style="width: 50%; 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 nowrap="nowrap" style="width: 50%; vertical-align: top; border-width: 1px; border-style: solid; border-color: rgb(0, 0, 0);">&#160;</td>
                </tr>

            </table>
          </div>
          <div style="line-height: 1.25;"><br style="line-height: 1.25;">
          </div>
          <table cellspacing="0" cellpadding="0" id="zd462145dd045430e93f490fe5958309b" class="DSPFListTable" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

              <tr>
                <td style="width: 78pt;"><br>
                </td>
                <td style="width: 25.2pt; vertical-align: top; align: right;">d.</td>
                <td style="width: auto; vertical-align: top; text-align: justify;">
                  <div>With respect to <strike>each of</strike> the Criteria, <font style="font-style: italic;">as applicable,</font> the Company will set the targets for that year (the "<font style="font-weight: bold;">Targets</font>"), such that a
                    minimum target for <strike>each</strike>&#160;<font style="font-style: italic;">the</font> Criteria shall be set, <font style="font-style: italic;">as applicable,</font> under which the officer will not be eligible for a bonus for such
                    Criteria (the &#8220;<font style="font-weight: bold;">Threshold Conditions</font>"). The CEO of the Company may determine the Targets of the officers reporting to the CEO, while the CEO's or the (active) Chairman's Targets shall be determined
                    by the Compensation Committee and Board of Directors.</div>
                </td>
              </tr>

          </table>
          <div style="line-height: 1.25">&#160;</div>
          <table cellspacing="0" cellpadding="0" id="zdca6f0c230ce487c857769a430a00871" class="DSPFListTable" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

              <tr>
                <td style="width: 78pt;"><br>
                </td>
                <td style="width: 25.2pt; vertical-align: top; align: right;">e.</td>
                <td style="width: auto; vertical-align: top; text-align: justify;">
                  <div>Personal Assessment &#8211; the Company may add to the yearly bonus for which an officer is entitled (in accordance with meeting the Targets as set in each of the Criteria) an amount of up to 30% of the bonus, at the discretion of the
                    Company&#8217;s CEO (with respect to the officers reporting to the CEO, except for the CFO); subject to the discretion of the Company CEO and the Chairman of the Audit Committee (with respect to the CFO); and subject to the discretion of the
                    Compensation Committee and the Company&#8217;s Board of Directors (with respect to the CEO), <font style="font-style: italic;">provided,&#160;</font>that the total amount of the annual bonus granted under the Annual Bonus Plan does not exceed the
                    annual bonus cap. Notwithstanding the above, to the extent that the CEO is paid a <u>Discretionary Bonus </u>in accordance with Section 5.3 below, the amount of the <u>Discretionary Bonus</u>, shall not exceed 3 monthly salaries.</div>
                </td>
              </tr>

          </table>
          <div style="line-height: 1.25">&#160;</div>
          <table cellspacing="0" cellpadding="0" id="za622334eec82498c802c79ed93720adf" class="DSPFListTable" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

              <tr>
                <td style="width: 78pt;"><br>
                </td>
                <td style="width: 25.2pt; vertical-align: top; align: right;">f.</td>
                <td style="width: auto; vertical-align: top; text-align: justify;">
                  <div>The date of the Annual Bonus will be shortly after the approval of the Company&#8217;s Consolidated Financial Statements for the end of the calendar year for which the bonus is being granted.</div>
                </td>
              </tr>

          </table>
          <div style="line-height: 1.25">&#160;</div>
          <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" id="DSPFPageBreakArea">
            <div style="text-align: center;" id="DSPFPageNumberArea"><font style="font-weight: normal; font-style: normal; font-family: 'Times New Roman',Times,serif;" id="DSPFPageNumber">A - 14</font></div>
            <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="line-height: 1.25;">Directors and Officers Compensation Policy &#8211; 2022
              <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><br>
            </div>
          </div>
          <table cellspacing="0" cellpadding="0" id="z8f02781ee54e46f7b5e3d322ad1aa8f3" class="DSPFListTable" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

              <tr>
                <td style="width: 78pt;"><br>
                </td>
                <td style="width: 25.2pt; vertical-align: top; align: right;">g.</td>
                <td style="width: auto; vertical-align: top; text-align: justify;">
                  <div><u>The Bonus Ceiling</u></div>
                </td>
              </tr>

          </table>
          <div style="line-height: 1.25">&#160;</div>
          <div style="text-align: justify; margin-left: 105pt; line-height: 1.25;">The annual limit for the amount of the grant, based on the Annual Bonus Plan( (the &#8220;<font style="font-weight: bold;">Bonus Ceiling</font>"), shall be for each of the
            officers as follows:</div>
          <div style="line-height: 1.25">&#160;</div>
          <div style="margin-left: 108pt;">
            <table cellspacing="0" cellpadding="3" border="0" id="zbf5283c99fab4050a170a85f860ddce8" style="width: 60%; color: rgb(0, 0, 0); font-family: 'Times New Roman',Times,serif; font-size: 10pt; text-align: left;">

                <tr>
                  <td style="width: 32.66%; vertical-align: middle; border-top: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0);">&#160;</td>
                  <td style="width: 33.48%; 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;">CEO and Active Chairman of the Board</div>
                  </td>
                  <td style="width: 33%; 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);">
                    <div style="text-align: center; line-height: 1.25; font-family: 'Times New Roman', Times, serif;">Company&#8217;s Officers</div>
                  </td>
                </tr>
                <tr>
                  <td style="width: 32.66%; vertical-align: middle; 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;">Grant Ceiling</div>
                  </td>
                  <td style="width: 33.48%; vertical-align: middle; 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;">Up to 9 Salaries</div>
                  </td>
                  <td style="width: 33%; vertical-align: middle; 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;">Up to 6 Salaries</div>
                  </td>
                </tr>

            </table>
          </div>
          <div style="line-height: 1.25;"><br style="line-height: 1.25;">
          </div>
          <table cellspacing="0" cellpadding="0" id="z1eaa96fe187442108bd703a8bfc612c8" class="DSPFListTable" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

              <tr>
                <td style="width: 78pt;"><br>
                </td>
                <td style="width: 25.2pt; vertical-align: top; align: right;">h.</td>
                <td style="width: auto; vertical-align: top; text-align: justify;">
                  <div><u>Eligibility for a results-based bonus for partial employment period</u></div>
                </td>
              </tr>

          </table>
          <div style="line-height: 1.25">&#160;</div>
          <table cellspacing="0" cellpadding="0" id="zc0fabcb102ea43f4a135e9f0ee26d5c9" class="DSPFListTable" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

              <tr>
                <td style="width: 108pt;"><br>
                </td>
                <td style="width: 32.4pt; vertical-align: top; align: right;">a)</td>
                <td style="width: auto; vertical-align: top; text-align: justify;">
                  <div>If any of the Officers ceases to serve in his position before the end of the calendar year, the ratio of the Officer&#8217;s eligibility for the Annual Bonus will be adjusted for the number of months in which he served as an Officer in the
                    Company, relative to a full calendar year (&#8220;<font style="font-weight: bold;">Partial Annual Bonus</font>&#8221;). Note: The ceiling for the Partial Annual Bonus will likewise be adjusted (linearly, based on the number of full months).</div>
                </td>
              </tr>

          </table>
          <div style="line-height: 1.25">&#160;</div>
          <table cellspacing="0" cellpadding="0" id="z4a6b7a81df60409faeb381eb4709c848" class="DSPFListTable" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

              <tr>
                <td style="width: 108pt;"><br>
                </td>
                <td style="width: 32.4pt; vertical-align: top; align: right;">b)</td>
                <td style="width: auto; vertical-align: top; text-align: justify;">
                  <div>The payment of the Partial Annual Bonus will be made only after the approval of the Company&#8217;s Consolidated Financial Statements for the calendar year for which the Annual Bonus is being granted.</div>
                </td>
              </tr>

          </table>
          <div style="line-height: 1.25">&#160;</div>
          <table cellspacing="0" cellpadding="0" id="zd71b1fba60dc46528bafd50237621f25" class="DSPFListTable" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

              <tr>
                <td style="width: 108pt;"><br>
                </td>
                <td style="width: 32.4pt; vertical-align: top; align: right;">c)</td>
                <td style="width: auto; vertical-align: top; text-align: justify;">
                  <div>All of the above notwithstanding, if the Officer ceases to serve in his position for reasons that render him ineligible for severance pay &#8211; he will lose his eligibility for a Partial Annual Bonus and any sum not yet paid to him in
                    respect of the bonus will be forfeited by the Company.</div>
                </td>
              </tr>

          </table>
          <div style="line-height: 1.25">&#160;</div>
          <table cellspacing="0" cellpadding="0" id="za50097709d9d4fd2b2f393066273e6ed" class="DSPFListTable" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

              <tr>
                <td style="width: 17.85pt;"><br>
                </td>
                <td style="width: 60.15pt; vertical-align: top; font-family: 'Times New Roman',Times,serif;">5.3.</td>
                <td style="width: auto; vertical-align: top; text-align: justify;">
                  <div><u>Discretionary Bonus to the CEO</u></div>
                </td>
              </tr>

          </table>
          <div style="line-height: 1.25">&#160;</div>
          <table cellspacing="0" cellpadding="0" id="z4d2a05e5f78b45718cae20da26713adb" class="DSPFListTable" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

              <tr>
                <td style="width: 78pt;"><br>
                </td>
                <td style="width: 25.2pt; vertical-align: top; align: right;">a.</td>
                <td style="width: auto; vertical-align: top; text-align: justify;">
                  <div>Once a year the Company may grant the CEO a bonus that will not exceed the sum of three (3) monthly salaries, in gross terms, based on approval by the Compensation Committee and the Board of Directors, which will relate, inter alia,
                    to criteria that are not financial and are not measurable; to the Officer&#8217;s long-term contribution and his performance in the year for which the bonus is being granted<sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">11</sup>.</div>
                </td>
              </tr>

          </table>
          <div style="line-height: 1.25">&#160;</div>
          <div style="line-height: 1.25">
            <hr align="left" style="height: 1px; width: 10%; color: #000000; background-color: #000000; margin-left: 0px; margin-right: auto; border: none;">
            <div>
              <table cellspacing="0" cellpadding="0" style="width: 100%; font-family: 'Times New Roman', Times, serif; font-size: 10pt;" class="DSPFListTable">

                  <tr style="vertical-align: top;">
                    <td style="vertical-align: top; width: 19.85pt;"><font style="font-weight: bold;"><sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">11</sup></font><br>
                    </td>
                    <td style="align: left; vertical-align: top; width: auto;">
                      <div style="text-align: justify; text-indent: -19.85pt; margin-left: 19.85pt; line-height: 1.25;">If the CEO is a controlling shareholder or his relative, additional approvals will be required in accordance with <strike>the </strike><font style="font-style: italic;">applicable</font> law.</div>
                    </td>
                  </tr>

              </table>
            </div>
          </div>
          <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" id="DSPFPageBreakArea">
            <div style="text-align: center;" id="DSPFPageNumberArea"><font style="font-weight: normal; font-style: normal; font-family: 'Times New Roman',Times,serif;" id="DSPFPageNumber">A - 15</font></div>
            <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="line-height: 1.25;">Directors and Officers Compensation Policy &#8211; 2022
              <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><br>
            </div>
          </div>
          <table cellspacing="0" cellpadding="0" id="z6bfe0556fe0f491ea89826ac5d5b350a" class="DSPFListTable" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

              <tr>
                <td style="width: 78pt;"><br>
                </td>
                <td style="width: 25.2pt; vertical-align: top; align: right;">b.</td>
                <td style="width: auto; vertical-align: top; text-align: justify;">
                  <div>The CEO will be eligible for a Discretionary Bonus only if he has served in this position for at least two (2) full quarters in the calendar year for which the bonus is being granted.</div>
                </td>
              </tr>

          </table>
          <div style="line-height: 1.25">&#160;</div>
          <table cellspacing="0" cellpadding="0" id="z4189e02496c94f1d813c33556fc12a78" class="DSPFListTable" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

              <tr>
                <td style="width: 78pt;"><br>
                </td>
                <td style="width: 25.2pt; vertical-align: top; align: right;">c.</td>
                <td style="width: auto; vertical-align: top; text-align: justify;">
                  <div>The payment of the Discretionary Bonus only after the approval of the Company&#8217;s periodic report for the end of the calendar year for which the Discretionary Bonus is being granted.</div>
                </td>
              </tr>

          </table>
          <div style="line-height: 1.25">&#160;</div>
          <table cellspacing="0" cellpadding="0" id="z18a231cc39924ea2b4640ff855322db5" class="DSPFListTable" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

              <tr>
                <td style="width: 78pt;"><br>
                </td>
                <td style="width: 25.2pt; vertical-align: top; align: right;">d.</td>
                <td style="width: auto; vertical-align: top; text-align: justify;">
                  <div>If the CEO received an Annual Bonus and a Discretionary Bonus in a single calendar year, the sum of the Discretionary Bonus will be adjusted such that the combined total of the two grants paid to the CEO will not exceed the Bonus
                    Ceiling set for Officers in clause 5.2.g., above.</div>
                </td>
              </tr>

          </table>
          <div style="line-height: 1.25">&#160;</div>
          <table cellspacing="0" cellpadding="0" id="z12a12732d76c478984598fd345e1e7b9" class="DSPFListTable" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

              <tr>
                <td style="width: 17.85pt;"><br>
                </td>
                <td style="width: 60.15pt; vertical-align: top; font-family: 'Times New Roman',Times,serif;">5.4.</td>
                <td style="width: auto; vertical-align: top; text-align: justify;">
                  <div><u>Bonuses for Officers subordinate to the CEO</u></div>
                </td>
              </tr>

          </table>
          <div style="line-height: 1.25">&#160;</div>
          <table cellspacing="0" cellpadding="0" id="z7b338694f5764e8b8f4e2f59ada30c36" class="DSPFListTable" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

              <tr>
                <td style="width: 78pt;"><br>
                </td>
                <td style="width: 25.2pt; vertical-align: top; align: right;">a.</td>
                <td style="width: auto; vertical-align: top; text-align: justify;">
                  <div>Without detracting from the Company&#8217;s right to grant results-based bonuses, as detailed in section 5.2 above, note that, subject to obtaining approval from the Compensation Committee and the BOD, the Company will have the right to
                    grant bonuses of any type to Officers subordinate to the CEO, including financial results-based bonuses (including such as are not in accordance with the provisions of section 5.2 above); bonuses based on other measurable parameters;
                    and other bonuses in accordance with the Company&#8217;s discretion that are not based on measurable criteria, up to the Bonus Ceiling set in clause 5.2.g., above.</div>
                </td>
              </tr>

          </table>
          <div style="line-height: 1.25">&#160;</div>
          <table cellspacing="0" cellpadding="0" id="z9f8f36548bb741678bf4bd872e86576f" class="DSPFListTable" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

              <tr>
                <td style="width: 78pt;"><br>
                </td>
                <td style="width: 25.2pt; vertical-align: top; align: right;">b.</td>
                <td style="width: auto; vertical-align: top; text-align: justify;">
                  <div>These bonuses will be granted to the Officers subordinate to the CEO based on the considerations specified in this Compensation Policy above.</div>
                </td>
              </tr>

          </table>
          <div style="line-height: 1.25">&#160;</div>
          <table cellspacing="0" cellpadding="0" id="z0bf7020354fd4a4c84f9cc5ea68ef4e9" class="DSPFListTable" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

              <tr>
                <td style="width: 78pt;"><br>
                </td>
                <td style="width: 25.2pt; vertical-align: top; align: right;">c.</td>
                <td style="width: auto; vertical-align: top; text-align: justify;">
                  <div>If an Officer subordinate to the CEO received an Annual Bonus and a Discretionary Bonus in a single calendar year, the sum of the Discretionary Bonus will be adjusted such that the combined total of the two grants paid to the Officer
                    will not exceed the Bonus Ceiling set for Officers in clause 5.2.g, above.</div>
                </td>
              </tr>

          </table>
          <div style="line-height: 1.25">&#160;</div>
          <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" id="DSPFPageBreakArea">
            <div style="text-align: center;" id="DSPFPageNumberArea"><font style="font-weight: normal; font-style: normal; font-family: 'Times New Roman',Times,serif;" id="DSPFPageNumber">A - 16</font></div>
            <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">
            <div style="line-height: 1.25;">Directors and Officers Compensation Policy &#8211; 2022
              <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><br>
            </div>
          </div>
          <table cellspacing="0" cellpadding="0" id="z13e60fe448ee4d4b98d62eb267c390e7" class="DSPFListTable" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

              <tr>
                <td style="width: 17.85pt;"><br>
                </td>
                <td style="width: 60.15pt; vertical-align: top; font-family: 'Times New Roman',Times,serif;">5.5.</td>
                <td style="width: auto; vertical-align: top; text-align: justify;">
                  <div><u>Recovery of sums paid in error</u></div>
                </td>
              </tr>

          </table>
          <div style="line-height: 1.25">&#160;</div>
          <div style="margin: 0px 0px 0px 78pt; line-height: 1.25; text-align: justify;">Officers will sign a commitment according to which if it turns out that one of them received an overpay of any of the grants detailed above or received a results-based
            bonus based on data that turn out to be erroneous and were presented anew in the Company&#8217;s audited financial statement (the &#8220;<font style="font-weight: bold;">surplus amount</font>&#8221;), the Officer will return the surplus amount, on the condition
            that the error is discovered within three (3) years from the date the Officer received the bonus. The manner in which the surplus amount will be returned to the Company, including payment in installments, the dates of such installments,
            linkage, etc. will be determined by the Company&#8217;s Compensation Committee and BOD.</div>
          <div style="line-height: 1.25">&#160;</div>
          <table cellspacing="0" cellpadding="0" id="z75a975e2fb0d42b2b5177c4cb61f8213" class="DSPFListTable" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

              <tr>
                <td style="width: 17.85pt;"><br>
                </td>
                <td style="width: 60.15pt; vertical-align: top; font-family: 'Times New Roman',Times,serif;">5.6.</td>
                <td style="width: auto; vertical-align: top; text-align: justify;">
                  <div><u>BOD discretion in reducing a bonus</u></div>
                </td>
              </tr>

          </table>
          <div style="line-height: 1.25">&#160;</div>
          <div style="margin: 0px 0px 0px 78pt; line-height: 1.25; text-align: justify;">The Company&#8217;s BOD will have the right to reduce any of the bonuses for which an Officer is eligible, subsequent to a substantial deterioration in the Company&#8217;s
            financial situation or subsequent to substantive dissatisfaction with the functioning of the relevant Officer who is eligible for any of the said bonuses, up to a ratio of 25% of the bonus.</div>
          <div style="line-height: 1.25">&#160;</div>
          <table cellspacing="0" cellpadding="0" id="zcf71244618b7412989809294767d1650" class="DSPFListTable" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

              <tr>
                <td style="width: 17.85pt;"><br>
                </td>
                <td style="width: 60.15pt; vertical-align: top; font-family: 'Times New Roman',Times,serif;">5.7.</td>
                <td style="width: auto; vertical-align: top; text-align: justify;">
                  <div>Officers will not be eligible for any social benefits in respect of any bonus they receive.</div>
                </td>
              </tr>

          </table>
          <div style="line-height: 1.25">&#160;</div>
          <table cellspacing="0" cellpadding="0" id="zc1d28944889045648e2e554fd6261a24" 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; vertical-align: top; align: right;">6.</td>
                <td style="width: auto; vertical-align: top; text-align: justify;">
                  <div style="font-weight: bold;"><u>Equity Based Compensation</u></div>
                </td>
              </tr>

          </table>
          <div style="line-height: 1.25">&#160;</div>
          <table cellspacing="0" cellpadding="0" id="z720e68ff55d3491faca363463686805d" class="DSPFListTable" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

              <tr>
                <td style="width: 17.85pt;"><br>
                </td>
                <td style="width: 60.15pt; vertical-align: top; font-family: 'Times New Roman',Times,serif;">6.1.</td>
                <td style="width: auto; vertical-align: top; text-align: justify;">
                  <div>The Company may grant Directors and Officers serving at the Company compensation based on securities in order to promote improvement in commercial processes and the Company&#8217;s long-term profitability, to increase the Officers&#8217; sense
                    of solidarity with the Company and with its operations, in increase the Officers&#8217; satisfaction and motivation and retain the high quality Officers at the Company in the long term.</div>
                </td>
              </tr>

          </table>
          <div style="line-height: 1.25">&#160;</div>
          <table cellspacing="0" cellpadding="0" id="z49937747576040eb9edc5f59465c653b" class="DSPFListTable" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

              <tr>
                <td style="width: 17.85pt;"><br>
                </td>
                <td style="width: 60.15pt; vertical-align: top; font-family: 'Times New Roman',Times,serif;">6.2.</td>
                <td style="width: auto; vertical-align: top; text-align: justify;">
                  <div>Accordingly, the Company can offer Officers to participate in a plan for the allocation of options for shares in the Company (the<font style="font-weight: bold;">&#160;</font>&#8220;<font style="font-weight: bold;">Options Plan</font>&#8221; and &#8220;<font style="font-weight: bold;">Equity Grant</font>&#8221;), considering, among other things, their education, skills, expertise, professional experience, positions and areas of responsibility of each of the said Officers. The Options Plan will
                    be defined and implemented such that it will comply, as much as possible, with the provisions of Section 102 of the Income Tax Ordinance (New Version) 5721-1961 (as much as possible and subject to the Company&#8217;s discretion, in the
                    capital gains track).</div>
                </td>
              </tr>

          </table>
          <div style="line-height: 1.25">&#160;</div>
          <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" id="DSPFPageBreakArea">
            <div style="text-align: center;" id="DSPFPageNumberArea"><font style="font-weight: normal; font-style: normal; font-family: 'Times New Roman',Times,serif;" id="DSPFPageNumber">A - 17</font></div>
            <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="line-height: 1.25;">Directors and Officers Compensation Policy &#8211; 2022
              <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><br>
            </div>
          </div>
          <table cellspacing="0" cellpadding="0" id="z6a9a50c840e64e2994bf6578381336bd" class="DSPFListTable" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

              <tr>
                <td style="width: 17.85pt;"><br>
                </td>
                <td style="width: 60.15pt; vertical-align: top; font-family: 'Times New Roman',Times,serif;">6.3.</td>
                <td style="width: auto; vertical-align: top; text-align: justify;">
                  <div>The maximum dilution with respect of the securities granted under the Option Plan, during the period of this Compensation Policy, shall not exceed 10% of the fully diluted basis share capital of the Company at the Equity Grant ,
                    taking such Equity Grant into account.</div>
                </td>
              </tr>

          </table>
          <div style="line-height: 1.25">&#160;</div>
          <table cellspacing="0" cellpadding="0" id="zc96213196a414b59aacd659de2061113" class="DSPFListTable" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

              <tr>
                <td style="width: 17.85pt;"><br>
                </td>
                <td style="width: 60.15pt; vertical-align: top; font-family: 'Times New Roman',Times,serif;">6.4.</td>
                <td style="width: auto; vertical-align: top; text-align: justify;">
                  <div><u>The Options Plan will include the following terms</u></div>
                </td>
              </tr>

          </table>
          <div style="line-height: 1.25">&#160;</div>
          <table cellspacing="0" cellpadding="0" id="zaebe0ef6399740cfab5412240ddf76d2" class="DSPFListTable" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

              <tr>
                <td style="width: 78pt;"><br>
                </td>
                <td style="width: 25.2pt; vertical-align: top; align: right;">a.</td>
                <td style="width: auto; vertical-align: top; text-align: justify;">
                  <div>The vesting period for the Equity Grant will be spread over at least three years, in keeping with a division into tranches: The first tranche of the Equity Grant will vest and be exercisable after at least 12 months from the date of
                    its granting, and the final tranche of the Equity Grant will vest and be exercisable after at least 36 months from the date of its granting<u>.</u></div>
                </td>
              </tr>

          </table>
          <div style="line-height: 1.25">&#160;</div>
          <table cellspacing="0" cellpadding="0" id="z84372b7535724696ad4d90dd56a6a4bf" class="DSPFListTable" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

              <tr>
                <td style="width: 78pt;"><br>
                </td>
                <td style="width: 25.2pt; vertical-align: top; align: right;">b.</td>
                <td style="width: auto; vertical-align: top; text-align: justify;">
                  <div>The exercise price of the options will be set in accordance with the decision of the Compensation Committee and the Company&#8217;s BOD. Note: Exercise prices shall not reflect a discount relative to the share price (as defined below)
                    close to the date of the granting of the options. Accordingly, the exercise price will be calculated on the basis of the average share price on the stock exchange as of the date of the Board of Directors' decision on the matter and
                    shall not be less than such average calculation in the period of 30 days prior to the date of grant of the said options (the &#8220;<font style="font-weight: bold;">Share Price</font>").</div>
                </td>
              </tr>

          </table>
          <div style="line-height: 1.25">&#160;</div>
          <table cellspacing="0" cellpadding="0" id="zcd7d563749ae41848c872acbbbeff605" class="DSPFListTable" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

              <tr>
                <td style="width: 78pt;"><br>
                </td>
                <td style="width: 25.2pt; vertical-align: top; align: right;">c.</td>
                <td style="width: auto; vertical-align: top; text-align: justify;">
                  <div>The Options Plan may allow for the exercising of the options on the basis of the benefit element (cashless exercise)</div>
                </td>
              </tr>

          </table>
          <div style="line-height: 1.25">&#160;</div>
          <table cellspacing="0" cellpadding="0" id="zac2fdb8e5f864babb6f1e7ede531891a" class="DSPFListTable" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

              <tr>
                <td style="width: 78pt;"><br>
                </td>
                <td style="width: 25.2pt; vertical-align: top; align: right;">d.</td>
                <td style="width: auto; vertical-align: top; text-align: justify;">
                  <div>The Company may include mechanisms in the Options Plan, including commonly accepted adjustments in the event of the distribution of benefit shares, a rights issue, the disbursement of dividends, changes in the Company&#8217;s capital,
                    structural changes in the Company, etc.</div>
                </td>
              </tr>

          </table>
          <div style="line-height: 1.25">&#160;</div>
          <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" id="DSPFPageBreakArea">
            <div style="text-align: center;" id="DSPFPageNumberArea"><font style="font-weight: normal; font-style: normal; font-family: 'Times New Roman',Times,serif;" id="DSPFPageNumber">A - 18</font></div>
            <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> <br>
          </div>
          <table cellspacing="0" cellpadding="0" id="z7fed638f7b06462ead6f4cb6ce031518" class="DSPFListTable" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

              <tr>
                <td style="width: 78pt;"><br>
                </td>
                <td style="width: 25.2pt; vertical-align: top; align: right;">e.</td>
                <td style="width: auto; vertical-align: top; text-align: justify;">
                  <div>The value of the options benefit on the date of their granting for each year of vesting (based on annual average over the vesting period) will not exceed 30% of the relevant Officer&#8217;s annual base salary (as defined in clause 2.2,
                    above).</div>
                </td>
              </tr>

          </table>
          <div style="line-height: 1.25">&#160;</div>
          <table cellspacing="0" cellpadding="0" id="zdfc64ebfce2d461c80a1dfb73f64ddd6" class="DSPFListTable" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

              <tr>
                <td style="width: 78pt;"><br>
                </td>
                <td style="width: 25.2pt; vertical-align: top; align: right;">f.</td>
                <td style="width: auto; vertical-align: top; text-align: justify;">
                  <div><u>Ceiling on the value of the exercising of the options</u></div>
                </td>
              </tr>

          </table>
          <div style="line-height: 1.25">&#160;</div>
          <div style="margin: 0px 0px 0px 105pt; line-height: 1.25; font-family: 'Times New Roman',Times,serif; text-align: justify;">Following consideration of this matter, the Company&#8217;s Compensation Committee and BOD have decided not to set a ceiling on
            the value for the exercising of the options, since the Company believes that the said ceiling does not serve the Company&#8217;s objectives and does not enable the Company to maximize the advantages inherent in the use of the shares-based equity
            compensation tool, among other things, as a means to incentivize Company Officers to maximize the Company&#8217;s profits and the value of its shares, by strengthening the alignment of the Officers&#8217; interests and those of the shareholders, with a
            view to the long term.</div>
          <div style="line-height: 1.25">&#160;</div>
          <table cellspacing="0" cellpadding="0" id="z2fc0d353f50a4533b1adf23938e596ae" class="DSPFListTable" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

              <tr>
                <td style="width: 78pt;"><br>
                </td>
                <td style="width: 25.2pt; vertical-align: top; align: right;">g.</td>
                <td style="width: auto; vertical-align: top; text-align: justify;">
                  <div>The Company may include &#8220;acceleration mechanisms&#8221; in the Options Plan, that will facilitate the immediate eligibility to exercise the options, in the event of (1) a change in the control of the Company; (2) a merger, acquisition,
                    reorganization of the Company with or into another company, when the Company is not the surviving company; (3) the sale of all or a significant part of the Company&#8217;s property or shares, apart from in the framework of a public offer. In
                    addition, the Company&#8217;s BOD may include &#8220;partial acceleration&#8221; in the Options Plan, for special circumstances, when an officer who is not a controlling shareholder is dismissed, apart from when the dismissal is based on grounds that
                    disqualify the said Officer from being eligible for severance pay. In the event that the Company does not include such mechanisms, and an Officer ceased serving the Company before the expiration of the options allocated to him, all the
                    options that have not yet been exercised will expire will not acquire the Officer any rights.</div>
                </td>
              </tr>

          </table>
          <div style="line-height: 1.25">&#160;</div>
          <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" id="DSPFPageBreakArea">
            <div style="text-align: center;" id="DSPFPageNumberArea"><font style="font-weight: normal; font-style: normal; font-family: 'Times New Roman',Times,serif;" id="DSPFPageNumber">A - 19</font></div>
            <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="line-height: 1.25;">Directors and Officers Compensation Policy &#8211; 2022
              <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><br>
            </div>
          </div>
          <table cellspacing="0" cellpadding="0" id="zcc3d06fcdc2841ddbead1677d1b60baf" 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; vertical-align: top; align: right;">7.</td>
                <td style="width: auto; vertical-align: top; text-align: justify;">
                  <div style="font-weight: bold;"><u>Arrangements for the completion of service</u></div>
                </td>
              </tr>

          </table>
          <div style="line-height: 1.25">&#160;</div>
          <table cellspacing="0" cellpadding="0" id="z1d8463ffee8f4249856890fdd99159a0" class="DSPFListTable" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

              <tr>
                <td style="width: 17.85pt;"><br>
                </td>
                <td style="width: 60.15pt; vertical-align: top; font-family: 'Times New Roman',Times,serif;">7.1.</td>
                <td style="width: auto; vertical-align: top; text-align: justify;">
                  <div><u>Advance Notice</u></div>
                </td>
              </tr>

          </table>
          <div style="line-height: 1.25">&#160;</div>
          <div style="margin: 0px 0px 0px 78pt; line-height: 1.25; text-align: justify;">The Company&#8217;s Officers, apart from Directors, will be entitled to Advance Notice prior to the termination of their employment at the Company (&#8220;<font style="font-weight: bold;">Advance Notice Period</font>&#8221;). The Advance Notice Period will not exceed the number of months specified below:</div>
          <div style="line-height: 1.25">&#160;</div>
          <div style="margin-left: 81pt;">
            <table cellspacing="0" cellpadding="3" border="0" id="z339c6bf0ee324ecd8cdf7ba3174cdf05" style="width: 60%; color: rgb(0, 0, 0); font-family: 'Times New Roman',Times,serif; font-size: 10pt; text-align: left;">

                <tr>
                  <td nowrap="nowrap" style="width: 50%; vertical-align: bottom; 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;">Officer</div>
                  </td>
                  <td nowrap="nowrap" style="width: 50%; vertical-align: bottom; 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;">Maximum advance notice period</div>
                  </td>
                </tr>
                <tr>
                  <td nowrap="nowrap" style="width: 50%; vertical-align: top; border-top: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0);">
                    <div style="line-height: 1.25; font-family: 'Times New Roman', Times, serif;">Active Chairman of the Board, CEO</div>
                  </td>
                  <td nowrap="nowrap" style="width: 50%; 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;">Up to 6 months</div>
                  </td>
                </tr>
                <tr>
                  <td nowrap="nowrap" style="width: 50%; 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="line-height: 1.25; font-family: 'Times New Roman', Times, serif;">other Officers</div>
                  </td>
                  <td nowrap="nowrap" style="width: 50%; 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;">Up to 3 months</div>
                  </td>
                </tr>

            </table>
          </div>
          <div style="line-height: 1.25;"><br style="line-height: 1.25;">
          </div>
          <div style="margin: 0px 0px 0px 78pt; line-height: 1.25; text-align: justify;">During the Advance Notice Period the Officer will be required to continue to fulfill his duties, unless the Company&#8217;s BOD (with respect to the Chairman of the Board or
            CEO) or the Company&#8217;s CEO (with respect to an Officer who is not a Director or CEO) decides to release him from that obligation, and he will be entitled to the rest of the terms of his service and employment without any changes.</div>
          <div style="line-height: 1.25">&#160;</div>
          <table cellspacing="0" cellpadding="0" id="z7ebc15195a12433ba037507c7aec5a99" 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; vertical-align: top; align: right;">8.</td>
                <td style="width: auto; vertical-align: top; text-align: justify;">
                  <div style="font-weight: bold;"><u>Ratio of fixed elements to variable elements</u></div>
                </td>
              </tr>

          </table>
          <div style="line-height: 1.25">&#160;</div>
          <div style="text-align: justify; margin-left: 18pt; line-height: 1.25;">The ratio between the annual cost of the fixed elements and the annual cost of the variable elements for the Company&#8217;s Officers, as set down in the framework of this
            Compensation Policy is as follows:</div>
          <div style="line-height: 1.25">&#160; <br>
          </div>
          <div style="margin-left: 27pt;">
            <table cellspacing="0" cellpadding="3" border="0" id="z34a2985e13eb47d6b87c822f435c92f8" style="width: 60%; color: rgb(0, 0, 0); font-family: 'Times New Roman',Times,serif; font-size: 10pt; text-align: left;">

                <tr>
                  <td style="width: 30%; vertical-align: top; border-top: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0);" rowspan="2">
                    <div style="text-align: center; line-height: 1.25; font-family: 'Times New Roman', Times, serif; font-weight: bold;">Officer</div>
                  </td>
                  <td 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);" colspan="2">&#160;</td>
                </tr>
                <tr>
                  <td style="width: 30%; 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;">Ratio of the fixed elements<sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">12</sup> to the total Compensation (%)</div>
                  </td>
                  <td style="width: 30%; 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;">Ratio of the variable elements<sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">13</sup> to the total Compensation (%)</div>
                  </td>
                </tr>
                <tr>
                  <td style="width: 30%; vertical-align: top; border-top: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0);">
                    <div style="line-height: 1.25; font-family: 'Times New Roman', Times, serif;">Active Chairman of the Board</div>
                  </td>
                  <td style="width: 30%; 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;">45-100</div>
                  </td>
                  <td style="width: 30%; 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;">0-55</div>
                  </td>
                </tr>
                <tr>
                  <td style="width: 30%; vertical-align: top; border-top: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0);">
                    <div style="line-height: 1.25; font-family: 'Times New Roman', Times, serif;">CEO</div>
                  </td>
                  <td style="width: 30%; 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;">45-100</div>
                  </td>
                  <td style="width: 30%; 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;">0-55</div>
                  </td>
                </tr>
                <tr>
                  <td style="width: 30%; 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="line-height: 1.25; font-family: 'Times New Roman', Times, serif;">Deputy CEO, Vice Presidents and other Officers</div>
                  </td>
                  <td style="width: 30%; 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;">52-100</div>
                  </td>
                  <td style="width: 30%; 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;">0-48</div>
                  </td>
                </tr>

            </table>
          </div>
          <div style="line-height: 1.25;"><br style="line-height: 1.25;">
          </div>
          <div style="line-height: 1.25;">
            <hr align="left" style="height: 1px; width: 10%; color: #000000; background-color: #000000; margin-left: 0px; margin-right: auto; border: none;"></div>
          <div style="line-height: 1.25;">
            <div>
              <table cellspacing="0" cellpadding="0" style="width: 100%; font-family: 'Times New Roman', Times, serif; font-size: 10pt;" class="DSPFListTable">

                  <tr style="vertical-align: top;">
                    <td style="vertical-align: top; width: 19.85pt;"><font style="font-weight: bold;"><sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">12</sup></font><br>
                    </td>
                    <td style="vertical-align: top; width: auto;">
                      <div style="text-align: justify; line-height: 1.25;"><font style="font-family: 'Times New Roman',Times,serif;">The total fixed elements include the base salary, social benefits, fringe benefits and employers National Insurance
                          Institute payment. The calculation is done on the assumption that for each of the elements the Officer will be paid the maximum sum to which he is entitled in accordance with this Compensation Policy.</font></div>
                    </td>
                  </tr>

              </table>
            </div>
            <div>
              <table cellspacing="0" cellpadding="0" style="width: 100%; font-family: 'Times New Roman', Times, serif; font-size: 10pt;" class="DSPFListTable">

                  <tr style="vertical-align: top;">
                    <td style="vertical-align: top; width: 19.85pt;"><font style="font-weight: bold;"><sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">13</sup></font><br>
                    </td>
                    <td style="vertical-align: top; width: auto;">
                      <div style="text-align: justify; line-height: 1.25;"><font style="font-family: 'Times New Roman',Times,serif;">The total variable elements include bonuses (on the assumption that the Officer is granted the overall maximum allowable in
                          accordance with the Compensation Policy, as detailed in clause 5.2.g above<font style="background-color: rgb(192, 192, 192);">)</font> and a capital grant (partial for calendar year).&#160; The calculation is done on the assumption
                          that for each of the elements the Officer will be paid the maximum sum to which he is entitled in accordance with this Compensation Policy.</font></div>
                    </td>
                  </tr>

              </table>
            </div>
            <div>
              <div>&#160;</div>
            </div>
          </div>
          <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" id="DSPFPageBreakArea">
            <div style="text-align: center;" id="DSPFPageNumberArea"><font style="font-weight: normal; font-style: normal; font-family: 'Times New Roman',Times,serif;" id="DSPFPageNumber">A - 20</font></div>
            <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;">
            <div style="line-height: 1.25;">Directors and Officers Compensation Policy &#8211; 2022
              <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><br>
            </div>
          </div>
          <div style="text-align: justify; margin-left: 18pt; line-height: 1.25;">The process of the adoption of the Compensation Policy included the examination of the ratio between the fixed elements and the variable elements, as part of the examination
            of the proposed structure of the Compensation Policy. After this examination, the Compensation Committee and the Company&#8217;s BOD are of the opinion that the said ratio is a fair expression of the Company&#8217;s concept concerning the necessary balance
            between creating appropriate incentives for the Officers, based on their performance, and the Company&#8217;s risk management policy as well as aligning the interests and creating an appropriate link between the Officers&#8217; compensation and the yield
            for the Company&#8217;s shareholders.</div>
          <div style="line-height: 1.25">&#160;</div>
          <table cellspacing="0" cellpadding="0" id="z9b5b3b3df6584e9cab9cd64f28976dee" 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; vertical-align: top; align: right;">9.</td>
                <td style="width: auto; vertical-align: top; text-align: justify;">
                  <div style="font-weight: bold;"><u>Ratio between the Officers&#8217; compensation and the Company employees&#8217; salaries</u></div>
                </td>
              </tr>

          </table>
          <div style="line-height: 1.25">&#160;</div>
          <table cellspacing="0" cellpadding="0" id="z4e741e7cc6864f3d8016245fbc66a6f7" class="DSPFListTable" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

              <tr>
                <td style="width: 17.85pt;"><br>
                </td>
                <td style="width: 60.15pt; vertical-align: top; font-family: 'Times New Roman',Times,serif;">9.1.</td>
                <td style="width: auto; vertical-align: top; text-align: justify;">
                  <div>The Compensation Committee and the Company&#8217;s BOD examined the ratio between the terms of service and the employment of the Officers and the salaries of the remainder of the employees, including contract workers employed by the
                    Company, and specifically the relationship to the average and mean salaries of all these employees, with a focus on the influence of the gap between them on the labor relations at the Company, based on the assumption of the payment of
                    the maximum base salary, the payment of 100% of the maximum bonuses that can be granted under this Compensation Policy, and assuming maximum Equity Grant value in one vesting year.</div>
                </td>
              </tr>

          </table>
          <div style="line-height: 1.25">&#160;</div>
          <div style="margin: 0px 0px 0px 78pt; line-height: 1.25; text-align: justify;">Accordingly, the ratios are as follows:<sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">14</sup></div>
          <div style="line-height: 1.25">&#160;</div>
          <div style="margin-left: 81pt;">
            <table cellspacing="0" cellpadding="3" border="0" id="zeb40b76bef5f43c685b5ba0e663a6fb4" style="width: 60%; color: rgb(0, 0, 0); font-family: 'Times New Roman',Times,serif; font-size: 10pt; text-align: left;">

                <tr>
                  <td style="width: 30%; 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;">Position</div>
                  </td>
                  <td style="width: 30%; 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;">Relationship to the average salary of the Company&#8217;s employees</div>
                  </td>
                  <td style="width: 30%; 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;">Relationship to the mean salary of the Company&#8217;s employees</div>
                  </td>
                </tr>
                <tr>
                  <td style="width: 30%; vertical-align: top; border-top: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0);">
                    <div style="line-height: 1.25; font-family: 'Times New Roman', Times, serif;">Active Chairman of the Board</div>
                  </td>
                  <td style="width: 30%; 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;">22</div>
                  </td>
                  <td style="width: 30%; 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;">25</div>
                  </td>
                </tr>
                <tr>
                  <td style="width: 30%; vertical-align: top; border-top: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0);">
                    <div style="line-height: 1.25; font-family: 'Times New Roman', Times, serif;">CEO</div>
                  </td>
                  <td style="width: 30%; 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;">22</div>
                  </td>
                  <td style="width: 30%; 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;">25</div>
                  </td>
                </tr>
                <tr>
                  <td style="width: 30%; 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="line-height: 1.25; font-family: 'Times New Roman', Times, serif;">Deputy CEO, Vice Presidents and other Officers</div>
                  </td>
                  <td style="width: 30%; 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;">15</div>
                  </td>
                  <td style="width: 30%; 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;">20</div>
                  </td>
                </tr>

            </table>
          </div>
          <div style="line-height: 1.25;"><br style="line-height: 1.25;">
          </div>
          <div style="line-height: 1.25;">
            <hr align="left" style="height: 1px; width: 10%; color: #000000; background-color: #000000; margin-left: 0px; margin-right: auto; border: none;"></div>
          <div style="line-height: 1.25;">
            <div>
              <table cellspacing="0" cellpadding="0" style="width: 100%; font-family: 'Times New Roman', Times, serif; font-size: 10pt;" class="DSPFListTable">

                  <tr style="vertical-align: top;">
                    <td style="vertical-align: top; width: 19.85pt;"><font style="font-weight: bold;"><sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">14</sup></font><br>
                    </td>
                    <td style="vertical-align: top; width: auto;">
                      <div style="text-align: justify; line-height: 1.25; font-family: 'Times New Roman',Times,serif;">In practice, the will likely be a different ratio in the event that one or more of the compensation components is below the maximum.</div>
                    </td>
                  </tr>

              </table>
            </div>
          </div>
          <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" id="DSPFPageBreakArea">
            <div style="text-align: center;" id="DSPFPageNumberArea"><font style="font-weight: normal; font-style: normal; font-family: 'Times New Roman',Times,serif;" id="DSPFPageNumber">A - 21</font></div>
            <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">&#160;
            <div style="line-height: 1.25;">Directors and Officers Compensation Policy &#8211; 2022
              <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><br>
            </div>
          </div>
          <table cellspacing="0" cellpadding="0" id="z9c28827fcb784a7392a4dd7a9bf13709" class="DSPFListTable" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

              <tr>
                <td style="width: 17.85pt;"><br>
                </td>
                <td style="width: 60.15pt; vertical-align: top; font-family: 'Times New Roman',Times,serif;">9.2.</td>
                <td style="width: auto; vertical-align: top; text-align: justify;">
                  <div>The Compensation Committee and the Company&#8217;s BOD determined that the relationships are reasonable considering the size of the Company, the nature of its operations, the responsibility borne by each of the Officers at the Company, the
                    mix of human resources employed by the Company, the number of employees and their occupations, and determined that these relationships will not negatively influence the labor relations at the Company.</div>
                </td>
              </tr>

          </table>
          <div style="line-height: 1.25">&#160;</div>
          <table cellspacing="0" cellpadding="0" id="zbc70858159144daa90eda188f8b2787f" 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; vertical-align: top; align: right;">10.</td>
                <td style="width: auto; vertical-align: top; text-align: justify;">
                  <div style="font-weight: bold;"><u>Indemnification, Exemption and Insurance of Directors and Officers</u></div>
                </td>
              </tr>

          </table>
          <div style="line-height: 1.25">&#160;</div>
          <table cellspacing="0" cellpadding="0" id="zbc089976e1aa430ab9eb5f1b60bf76b5" class="DSPFListTable" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

              <tr>
                <td style="width: 17.85pt;"><br>
                </td>
                <td style="width: 60.15pt; vertical-align: top; font-family: 'Times New Roman',Times,serif;">10.1.</td>
                <td style="width: auto; vertical-align: top; text-align: justify;">
                  <div>The Directors and Officers may grant the Officers an exemption, indemnification (in advance and/or after the fact) and a Directors and Officers insurance liability policy (respectively &#8220;<font style="font-weight: bold;">exemption</font>,&#8221;

                    &#8220;<font style="font-weight: bold;">indemnification</font>&#8221; and &#8220;<font style="font-weight: bold;">liability insurance</font>&#8221;), subject to the requisite approvals under the Companies Law.</div>
                </td>
              </tr>

          </table>
          <div style="line-height: 1.25">&#160;</div>
          <table cellspacing="0" cellpadding="0" id="z1ac90e1822cb43ac8f5eda145333ba4b" class="DSPFListTable" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

              <tr>
                <td style="width: 17.85pt;"><br>
                </td>
                <td style="width: 60.15pt; vertical-align: top; font-family: 'Times New Roman',Times,serif;">10.2.</td>
                <td style="width: auto; vertical-align: top; text-align: justify;">
                  <div><u>Insurance</u></div>
                </td>
              </tr>

          </table>
          <div style="line-height: 1.25">&#160;</div>
          <div style="margin: 0px 0px 0px 78pt; line-height: 1.25; text-align: justify;">The Company pay purchase insurance policies, including Run Off policies, to cover the liability of the Directors&#8217; and Officers&#8217; serving and who will serve at the
            Company from time to time, including Directors and Officers who are controlling shareholders or their relatives, based on the following policy terms:</div>
          <div style="line-height: 1.25">&#160;</div>
          <table cellspacing="0" cellpadding="0" id="z11f1d48cf21d49b8ab7df493ea75538c" class="DSPFListTable" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

              <tr>
                <td style="width: 77.95pt;"><br>
                </td>
                <td style="width: 25.25pt; vertical-align: top; align: right;">a.</td>
                <td style="width: auto; vertical-align: top; text-align: justify;">
                  <div>The coverage that can be granted each Officer under the insurance policy will not exceed a total sum of US$15 million per insurance event and per period.</div>
                </td>
              </tr>

          </table>
          <div style="line-height: 1.25">&#160;</div>
          <table cellspacing="0" cellpadding="0" id="zc883471626e64fbb98c71b4f5c66c1dd" class="DSPFListTable" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

              <tr>
                <td style="width: 77.95pt;"><br>
                </td>
                <td style="width: 25.25pt; vertical-align: top; align: right;">b.</td>
                <td style="width: auto; vertical-align: top; text-align: justify;">
                  <div>Each policy that will be purchased can include both insurance for the Company itself (&#8220;Entity Coverage&#8221;) for suits under the Securities Law, whether such suits are filed against the Company alone or against the Company and against
                    Directors and Officers.</div>
                </td>
              </tr>

          </table>
          <div style="line-height: 1.25">&#160;</div>
          <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" id="DSPFPageBreakArea">
            <div style="text-align: center;" id="DSPFPageNumberArea"><font style="font-weight: normal; font-style: normal; font-family: 'Times New Roman',Times,serif;" id="DSPFPageNumber">A - 22</font></div>
            <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="line-height: 1.25;">Directors and Officers Compensation Policy &#8211; 2022
              <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><br>
            </div>
          </div>
          <table cellspacing="0" cellpadding="0" id="z32774fbd9d094f2abc9bd987ec07b2fb" class="DSPFListTable" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

              <tr>
                <td style="width: 77.95pt;"><br>
                </td>
                <td style="width: 25.25pt; vertical-align: top; align: right;">c.</td>
                <td style="width: auto; vertical-align: top; text-align: justify;">
                  <div><font style="font-style: italic;">The annual premiums and deductibles of the Company&#8217;s directors and officers liability insurance policy shall be determined according to the conditions of the insurance market at such time, as advised
                      by the Company&#8217;s insurance consultants, provided that such annual premiums and deductibles are not material to the Company</font><strike> The annual insurance premiums that will be paid by the Company for the insurance period for any
                      particular year will not exceed US$400,000</strike>.</div>
                </td>
              </tr>

          </table>
          <div style="line-height: 1.25">&#160;</div>
          <table cellspacing="0" cellpadding="0" id="z185fd470c51e44ab808ccf71a942b3e4" class="DSPFListTable" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

              <tr>
                <td style="width: 77.95pt;"><br>
                </td>
                <td style="width: 25.25pt; vertical-align: top; align: right;">d.</td>
                <td style="width: auto; vertical-align: top; text-align: justify;">
                  <div>Each policy that will be purchased can also include liability coverage for the Directors and Officers for issuing new securities. If such supplementary coverage is included, the supplement to the annual premium for that coverage will
                    not exceed 60% of the cost of the premium for that year.</div>
                </td>
              </tr>

          </table>
          <div style="line-height: 1.25">&#160;</div>
          <table cellspacing="0" cellpadding="0" id="z83e51da843eb4464868b7339a61f0d2d" class="DSPFListTable" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

              <tr>
                <td style="width: 77.95pt;"><br>
                </td>
                <td style="width: 25.25pt; vertical-align: top; align: right;">e.</td>
                <td style="width: auto; vertical-align: top; text-align: justify;">
                  <div>The amount of the Deductible that will be set in the framework of each policy that is purchased is likely to be zero for the Directors and Officers and a different commonly accepted sum for the Company.</div>
                </td>
              </tr>

          </table>
          <div style="line-height: 1.25">&#160;</div>
          <table cellspacing="0" cellpadding="0" id="z914950644fab4eaf9437f458f6075047" class="DSPFListTable" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

              <tr>
                <td style="width: 77.95pt;"><br>
                </td>
                <td style="width: 25.25pt; vertical-align: top; align: right;">f.</td>
                <td style="width: auto; vertical-align: top; text-align: justify;">
                  <div>The terms of this insurance policy will be identical for Directors and Officers, including Directors and Officers who are among the controlling shareholders or their relatives, should they be serving at that time, apart from the
                    commonly accepted exclusions in this type of policy with respect to the controlling shareholders.</div>
                </td>
              </tr>

          </table>
          <div style="line-height: 1.25">&#160;</div>
          <table cellspacing="0" cellpadding="0" id="z7a63a537acbc48ec91f93de93233da56" class="DSPFListTable" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

              <tr>
                <td style="width: 77.95pt;"><br>
                </td>
                <td style="width: 25.25pt; vertical-align: top; align: right;">g.</td>
                <td style="width: auto; vertical-align: top; text-align: justify;">
                  <div>In the event of an insurance event, the order of payments under the policy will be as follows: (a) Payment to Directors and Officers; (b) payment to the Company for any sum the Company is required to pay to Directors and Officers in
                    accordance with the letter of indemnification given to them; (c) payment to the Company.</div>
                </td>
              </tr>

          </table>
          <div style="line-height: 1.25">&#160;</div>
          <table cellspacing="0" cellpadding="0" id="z4f80403664c1497eab527dda6712527e" class="DSPFListTable" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

              <tr>
                <td style="width: 77.95pt;"><br>
                </td>
                <td style="width: 25.25pt; vertical-align: top; align: right;">h.</td>
                <td style="width: auto; vertical-align: top; text-align: justify;">
                  <div>The Company may bring the specific terms of the insurance policy for the approval of the Compensation Committee alone. Such approval will be subject to compliance with the principles detailed above in this section, with a focus on
                    the conditions prevalent in the insurance market at the time of the purchase of the policy, as long as such policy is consistent with the market conditions and is not liable to substantively impact the Company&#8217;s profitability, property
                    or obligations.</div>
                </td>
              </tr>

          </table>
          <div style="line-height: 1.25">&#160;</div>
          <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" id="DSPFPageBreakArea">
            <div style="text-align: center;" id="DSPFPageNumberArea"><font style="font-weight: normal; font-style: normal; font-family: 'Times New Roman',Times,serif;" id="DSPFPageNumber">A - 23</font></div>
            <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="line-height: 1.25;">Directors and Officers Compensation Policy &#8211; 2022
              <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><br>
            </div>
          </div>
          <table cellspacing="0" cellpadding="0" id="z23fcdd2716284fd78182403bd1a1e50e" class="DSPFListTable" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

              <tr>
                <td style="width: 17.85pt;"><br>
                </td>
                <td style="width: 60.15pt; vertical-align: top; font-family: 'Times New Roman',Times,serif;">10.3.</td>
                <td style="width: auto; vertical-align: top; text-align: justify;">
                  <div><u>Indemnification</u></div>
                </td>
              </tr>

          </table>
          <div style="line-height: 1.25">&#160;</div>
          <table cellspacing="0" cellpadding="0" id="z463c07e0948e4ec8b05d4964afd956d8" class="DSPFListTable" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

              <tr>
                <td style="width: 78pt;"><br>
                </td>
                <td style="width: 25.2pt; vertical-align: top; align: right;">a.</td>
                <td style="width: auto; vertical-align: top; text-align: justify;">
                  <div>The indemnification that can be granted to every Officer can be determined in advance or after the fact, for events that will be set interior design the Company&#8217;s BOD and will be detailed in the letter if indemnification given to the
                    relevant Officer.</div>
                </td>
              </tr>

          </table>
          <div style="line-height: 1.25">&#160;</div>
          <table cellspacing="0" cellpadding="0" id="zf816255275594c4a9378b861cb1e6a1d" class="DSPFListTable" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

              <tr>
                <td style="width: 78pt;"><br>
                </td>
                <td style="width: 25.2pt; vertical-align: top; align: right;">b.</td>
                <td style="width: auto; vertical-align: top; text-align: justify;">
                  <div>The sum of the indemnification for all Officers will not exceed the (i) the value of 25% of the Company&#8217;s net equity according to the audited or reviewed financial statement known at the time the request for indemnification was
                    submitted; or (ii) $3,000,000, whichever is greater.</div>
                </td>
              </tr>

          </table>
          <div style="line-height: 1.25">&#160;</div>
          <table cellspacing="0" cellpadding="0" id="zbbf45dd9f6804b2a90e5b6e9718a373f" 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; vertical-align: top; align: right;">11.</td>
                <td style="width: auto; vertical-align: top; text-align: justify;">
                  <div style="font-weight: bold;"><u>Updating of employment terms</u></div>
                </td>
              </tr>

          </table>
          <div style="line-height: 1.25">&#160;</div>
          <div style="text-align: justify; margin-left: 18pt; line-height: 1.25;">Notwithstanding the above Compensation Policy, it is hereby clarified that:</div>
          <div style="line-height: 1.25">&#160;</div>
          <table cellspacing="0" cellpadding="0" id="z4746c56be5894e5da023135d543bd488" class="DSPFListTable" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

              <tr>
                <td style="width: 17.85pt;"><br>
                </td>
                <td style="width: 60.15pt; vertical-align: top; font-family: 'Times New Roman',Times,serif;">11.1.</td>
                <td style="width: auto; vertical-align: top; text-align: justify;">
                  <div><font style="font-weight: bold;">Non-substantive change to the employment terms of an Officer subordinate to the CEO</font><sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">15</sup></div>
                </td>
              </tr>

          </table>
          <div style="line-height: 1.25">&#160;</div>
          <div style="margin: 0px 0px 0px 78pt; line-height: 1.25; text-align: justify;">The Company may implement a non-substantive change in the employment terms of an Officer subordinate to the CEO without obtaining the approval of the Compensation
            Committee, as long as the following conditions are met (aggregately):</div>
          <div style="line-height: 1.25">&#160;</div>
          <table cellspacing="0" cellpadding="0" id="za7f83f9815bf4bee91d33b13e240e1f4" class="DSPFListTable" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

              <tr>
                <td style="width: 78pt;"><br>
                </td>
                <td style="width: 25.2pt; vertical-align: top; align: right;">a.</td>
                <td style="width: auto; vertical-align: top; text-align: justify;">
                  <div>The change is approved by the Company&#8217;s CEO.</div>
                </td>
              </tr>

          </table>
          <div style="line-height: 1.25">&#160;</div>
          <table cellspacing="0" cellpadding="0" id="zf1face762a6c403ba76320fbf55d48f3" class="DSPFListTable" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

              <tr>
                <td style="width: 78pt;"><br>
                </td>
                <td style="width: 25.2pt; vertical-align: top; align: right;">b.</td>
                <td style="width: auto; vertical-align: top; text-align: justify;">
                  <div>The terms of service following the change are consistent with the Compensation Policy.</div>
                </td>
              </tr>

          </table>
          <div style="line-height: 1.25">&#160;</div>
          <div style="line-height: 1.25">
            <hr align="left" style="height: 1px; width: 10%; color: #000000; background-color: #000000; margin-left: 0px; margin-right: auto; border: none;"> </div>
          <div style="line-height: 1.25">
            <table cellspacing="0" cellpadding="0" class="DSPFListTable" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

                <tr>
                  <td style="width: 19.85pt; vertical-align: top; align: right; font-weight: bold;"><sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">15</sup></td>
                  <td style="width: auto; vertical-align: top; text-align: justify;">
                    <div>If an Officer subordinate to the CEO is a controlling shareholder or his relative, the implementation of the non-substantive change in his employment terms will require additional approvals as required by law.</div>
                  </td>
                </tr>

            </table>
            <div style="line-height: 1.25">&#160;</div>
          </div>
          <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" id="DSPFPageBreakArea">
            <div style="text-align: center;" id="DSPFPageNumberArea"><font style="font-weight: normal; font-style: normal; font-family: 'Times New Roman',Times,serif;" id="DSPFPageNumber">A - 24</font></div>
            <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="text-align: justify; line-height: 1.25; font-family: 'Times New Roman',Times,serif;">
            <div style="line-height: 1.25;">Directors and Officers Compensation Policy &#8211; 2022
              <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><br>
            </div>
          </div>
          <div style="text-align: justify; margin-left: 103.2pt; line-height: 1.25; font-family: 'Times New Roman',Times,serif;">In this clause, &#8220;<font style="font-weight: bold;">non-substantive change</font>&#8221; = (a) A change in the compensation whose
            financial cost to the Company is up to (and including) 10% of the cost of the employment of the Officer subordinate to the CEO before the change; (b) Grant/s whose total sum does not exceed 2 monthly salaries (in gross terms) annually of the
            Officer subordinate to the CEO &#8211; all subject to the ceilings set down in the Compensation Policy.</div>
          <div style="line-height: 1.25">&#160;</div>
          <table cellspacing="0" cellpadding="0" id="z6db20988f6c243dda2e55c40aeb84b3e" class="DSPFListTable" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

              <tr>
                <td style="width: 17.85pt;"><br>
                </td>
                <td style="width: 60.15pt; vertical-align: top; font-family: 'Times New Roman',Times,serif;">11.2.</td>
                <td style="width: auto; vertical-align: top; text-align: justify;">
                  <div style="font-weight: bold;">Renewal/extension of the contractual agreement with the Company&#8217;s CEO</div>
                </td>
              </tr>

          </table>
          <div style="line-height: 1.25">&#160;</div>
          <div style="margin: 0px 0px 0px 78pt; line-height: 1.25; text-align: justify;">The Company may renew or extend the contractual agreement with the Company&#8217;s CEO, with respect to the terms of his service and employment, without obtaining approval
            from the General Assembly of the shareholders,<sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">16</sup> as long as the following conditions are met (aggregately):</div>
          <div style="line-height: 1.25">&#160;</div>
          <table cellspacing="0" cellpadding="0" id="zef9eca720aae419ab03b52ceed88ce26" class="DSPFListTable" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

              <tr>
                <td style="width: 78pt;"><br>
                </td>
                <td style="width: 25.2pt; vertical-align: top; align: right;">a.</td>
                <td style="width: auto; vertical-align: top; text-align: justify;">
                  <div>The renewal or extension of the contractual agreement concern terms of service and employment that are not better than those in the previous contractual agreement, or if there is no real change in the terms and the remainder of the
                    pertinent circumstances;</div>
                </td>
              </tr>

          </table>
          <div style="line-height: 1.25">&#160;</div>
          <table cellspacing="0" cellpadding="0" id="z89d46fb978f34ed0915c1c34756a4722" class="DSPFListTable" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

              <tr>
                <td style="width: 78pt;"><br>
                </td>
                <td style="width: 25.2pt; vertical-align: top; align: right;">b.</td>
                <td style="width: auto; vertical-align: top; text-align: justify;">
                  <div>The terms of service and employment are consistent with the Company&#8217;s Compensation Policy and the previous contractual agreement was approved under section 272(c1) of the Companies Law.</div>
                </td>
              </tr>

          </table>
          <div style="line-height: 1.25">&#160;</div>
          <table cellspacing="0" cellpadding="0" id="z6314a2e3eae14c1eadad3b0c1d7abdff" class="DSPFListTable" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

              <tr>
                <td style="width: 17.85pt;"><br>
                </td>
                <td style="width: 60.15pt; vertical-align: top; font-family: 'Times New Roman',Times,serif;">11.3.</td>
                <td style="width: auto; vertical-align: top; text-align: justify;">
                  <div style="font-weight: bold;">Approval of the contractual agreement with the CEO/Director until the date of the next General Assembly</div>
                </td>
              </tr>

          </table>
          <div style="line-height: 1.25">&#160;</div>
          <div style="margin: 0px 0px 0px 78pt; line-height: 1.25; text-align: justify;">The company may enter a contractual agreement with the Company CEO or with a Director, concerning the terms of his service and employment, without the need to obtain
            the approval of the General Assembly of the shareholders, concerning the period from the date of the contractual agreement until the closest General Assembly, if all of the following conditions are met:</div>
          <div style="line-height: 1.25">&#160;</div>
          <table cellspacing="0" cellpadding="0" id="zfbe33dfb832a4a078eefbab329916989" class="DSPFListTable" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

              <tr>
                <td style="width: 78pt;"><br>
                </td>
                <td style="width: 25.2pt; vertical-align: top; align: right;">a.</td>
                <td style="width: auto; vertical-align: top; text-align: justify;">
                  <div>The terms of service and employment were approved by the Compensation Committee and the BOD in accordance with sections 272(c1)(1) and 273(a) of the Companies Law, as relevant;</div>
                </td>
              </tr>

          </table>
          <div style="line-height: 1.25">&#160;</div>
          <div style="line-height: 1.25">
            <hr align="left" style="height: 1px; width: 10%; color: #000000; background-color: #000000; margin-left: 0px; margin-right: auto; border: none;"> </div>
          <div style="line-height: 1.25">
            <table cellspacing="0" cellpadding="0" class="DSPFListTable" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

                <tr>
                  <td style="width: 19.85pt; vertical-align: top; align: right; font-weight: bold;"><sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">16</sup></td>
                  <td style="width: auto; vertical-align: top; text-align: justify;">
                    <div>If a CEO is a controlling shareholder or his relative, the renewal or extension of will require additional approvals as required by law.</div>
                  </td>
                </tr>

            </table>
            <div style="line-height: 1.25">&#160;</div>
          </div>
          <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" id="DSPFPageBreakArea">
            <div style="text-align: center;" id="DSPFPageNumberArea"><font style="font-weight: normal; font-style: normal; font-family: 'Times New Roman',Times,serif;" id="DSPFPageNumber">A - 25</font></div>
            <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="line-height: 1.25;">Directors and Officers Compensation Policy &#8211; 2022
              <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><br>
            </div>
          </div>
          <table cellspacing="0" cellpadding="0" id="z0c49308f374a47f4a23638d6142a045c" class="DSPFListTable" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

              <tr>
                <td style="width: 78pt;"><br>
                </td>
                <td style="width: 25.2pt; vertical-align: top; align: right;">b.</td>
                <td style="width: auto; vertical-align: top; text-align: justify;">
                  <div>The terms of service and employment are consistent with the Company&#8217;s Compensation Policy;</div>
                </td>
              </tr>

          </table>
          <div style="line-height: 1.25">&#160;</div>
          <table cellspacing="0" cellpadding="0" id="zee4690e19c1647728d2c1aee8adcba3d" class="DSPFListTable" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

              <tr>
                <td style="width: 78pt;"><br>
                </td>
                <td style="width: 25.2pt; vertical-align: top; align: right;">c.</td>
                <td style="width: auto; vertical-align: top; text-align: justify;">
                  <div>The terms of service and employment are not better than the terms of service and employment of the previous CEO or no real changes between the two contractual agreements and the remainder of the pertinent circumstances, including the
                    scope of the employment.</div>
                </td>
              </tr>

          </table>
          <div style="line-height: 1.25">&#160;</div>
          <table cellspacing="0" cellpadding="0" id="z8f4876a304c241f3ba63648e2fdf2b9b" 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; vertical-align: top; align: right;">12.</td>
                <td style="width: auto; vertical-align: top; text-align: justify;">
                  <div style="font-weight: bold;"><u>Miscellaneous</u></div>
                </td>
              </tr>

          </table>
          <div style="line-height: 1.25">&#160;</div>
          <table cellspacing="0" cellpadding="0" id="z1df320f6ee294e1e88b77f870739ab88" class="DSPFListTable" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

              <tr>
                <td style="width: 17.85pt;"><br>
                </td>
                <td style="width: 60.15pt; vertical-align: top; font-family: 'Times New Roman',Times,serif;">12.1.</td>
                <td style="width: auto; vertical-align: top; text-align: justify;">
                  <div>Subject to the provisions of the law, nothing in this Compensation Policy will detract from the validity, nor add to the provisions of previous agreements between the Company and the Company&#8217;s Officers in connection with the
                    principles or compensation terms that were approved before the approval of this Compensation Policy or any that preceded it.</div>
                </td>
              </tr>

          </table>
          <div style="line-height: 1.25">&#160;</div>
          <table cellspacing="0" cellpadding="0" id="z09c2547fd1434e138d6b54b462eb94e0" class="DSPFListTable" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

              <tr>
                <td style="width: 17.85pt;"><br>
                </td>
                <td style="width: 60.15pt; vertical-align: top; font-family: 'Times New Roman',Times,serif;">12.2.</td>
                <td style="width: auto; vertical-align: top; text-align: justify;">
                  <div>It is hereby clarified that nothing in this policy shall be construed as detracting from the directives of the Companies Law and/or the Company&#8217;s article of association concerning the manner of the approval of the contractual
                    agreement with any of the Officers concerning their service and employment.</div>
                </td>
              </tr>

          </table>
          <div style="line-height: 1.25">&#160;</div>
          <table cellspacing="0" cellpadding="0" id="z3197578eec974f72905248bad3008d24" class="DSPFListTable" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

              <tr>
                <td style="width: 17.85pt;"><br>
                </td>
                <td style="width: 60.15pt; vertical-align: top; font-family: 'Times New Roman',Times,serif;">12.3.</td>
                <td style="width: auto; vertical-align: top; text-align: justify;">
                  <div>If after the approval of the Compensation Policy, the law and/or the regulations and/or court orders and/or guidelines and/or statements by the Israel Securities Authority set lenient terms with respect to the Compensation Policy,
                    including with respect to the required approvals, the restrictions and/or threshold terms necessary for inclusion in the Compensation Policy as of the date of its approval, such lenient terms will be considered as included, as if they
                    were stated in the framework of the Compensation Policy from the outset.</div>
                </td>
              </tr>

          </table>
          <div style="line-height: 1.25">&#160;</div>
          <table cellspacing="0" cellpadding="0" id="zb5d46c69bca94425a29573f7dcd4a6d6" class="DSPFListTable" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

              <tr>
                <td style="width: 17.85pt;"><br>
                </td>
                <td style="width: 60.15pt; vertical-align: top; font-family: 'Times New Roman',Times,serif;">12.4.</td>
                <td style="width: auto; vertical-align: top; text-align: justify;">
                  <div>From time to time a Company Director will examine the Compensation Policy and the need for its adjustment, if there are substantive changes in the circumstances that existed when the Compensation Policy was set, or for other reasons
                    as he sees fit.</div>
                </td>
              </tr>

          </table>
          <div style="line-height: 1.25">&#160;</div>
          <br>
        </div>
      </div>
    </div>
  </div>
  <div style="text-align: center;"><font style="font-weight: normal; font-style: normal; font-family: 'Times New Roman',Times,serif;" id="DSPFPageNumber">A - 26</font>
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<DOCUMENT>
<TYPE>EX-99.2
<SEQUENCE>3
<FILENAME>exhibit_99-2.htm
<DESCRIPTION>EXHIBIT 99.2
<TEXT>
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  <head>
    <title></title>
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<body bgcolor="#ffffff" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; text-align: left; color: #000000;">
  <div>
    <div id="DSPFPageHeader">
      <div style="line-height: 1.25;">
        <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>
      <div style="line-height: 1.25; text-align: right;">
        <div style="line-height: 1.25; font-weight: bold;"><u>EXHIBIT 99.2</u></div>
      </div>
      <div style="line-height: 1.25;"><br style="line-height: 1.25;">
      </div>
    </div>
    <div style="text-align: center; line-height: 1.25;">ELTEK LTD.</div>
    <div style="text-align: center; line-height: 1.25;"> <br>
    </div>
    <div style="text-align: center; line-height: 1.25; font-weight: bold;">PROXY FOR ANNUAL MEETING OF SHAREHOLDERS</div>
    <div style="text-align: center; line-height: 1.25; font-weight: bold;">TO BE HELD August 31, 2022</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;">THIS PROXY IS SOLICITED ON BEHALF OF THE BOARD OF DIRECTORS</div>
    <div style="line-height: 1.25;"><br style="line-height: 1.25;">
    </div>
    <div style="line-height: 1.25;">The undersigned hereby appoint(s) Ron Freund and Eli Yaffe, or either of them, attorneys or attorney of the undersigned, for and in the name(s) of the undersigned, with power of substitution and revocation in each to
      vote any and all ordinary shares, par value NIS 3.00 per share, of Eltek Ltd. (the "Company"), which the undersigned would be entitled to vote as fully as the undersigned could if personally present at the Annual General Meeting of Shareholders of
      the Company (the &#8220;Meeting&#8221;) to be held on Wednesday, August 31, 2022 at 10:00 a.m. (Israel time) at the principal offices of the Company, 20 Ben Zion Gelis Street, Petach Tikva, Israel and at any adjournment or adjournments thereof, and hereby
      revoking any prior proxies to vote said shares, upon the following items of business more fully described in the notice of and proxy statement for such Meeting (receipt of which is hereby acknowledged):</div>
    <div style="line-height: 1.25;"><br style="line-height: 1.25;">
    </div>
    <div style="line-height: 1.25; font-weight: bold;">Israeli law requires the indication of whether you are a Controlling shareholder, a Senior officer or an Israeli Institutional Investor. In addition, items 2 to 7 require an indication of &#8220;Personal
      Interest&#8221; (as defined under the Israeli Companies Law) in the resolution. Please indicate (i) whether you have a Personal Interest for each proposal where necessary and (ii) whether you are a Controlling shareholder, a Senior officer or an Israeli
      Institutional Investor or none of the foregoing, by marking an X in one of the boxes shown on the reverse, otherwise none of your votes will be counted.</div>
    <div style="line-height: 1.25;"><br style="line-height: 1.25;">
    </div>
    <div style="line-height: 1.25; font-weight: bold;">For information regarding the definition of &#8220;Personal Interest,&#8221; see the &#8220;Votes Required&#8221; section of the Proxy Statement.</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;">(Continued and to be signed on the reverse side)</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; font-weight: bold;">ANNUAL GENERAL MEETING OF SHAREHOLDERS 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;">ELTEK 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-weight: bold;">AUGUST 31, 2022</div>
    <div style="line-height: 1.25;"><br style="line-height: 1.25;">
    </div>
    <div style="text-align: center; line-height: 1.25;">Please sign, date and mail</div>
    <div style="text-align: center; line-height: 1.25;">your proxy card in the</div>
    <div style="text-align: center; line-height: 1.25;">envelope provided as soon</div>
    <div style="text-align: center; line-height: 1.25;">as possible.</div>
    <div style="line-height: 1.25;"><br style="line-height: 1.25;">
    </div>
    <div style="line-height: 1.25; font-weight: bold;">
      <hr noshade="noshade" align="center" style="height: 2px; color: #000000; background-color: #000000; text-align: center; margin-left: auto; margin-right: auto; border: none;"></div>
    <div style="text-align: center; line-height: 1.25; font-weight: bold;">THE BOARD OF DIRECTORS RECOMMENDS A VOTE &#8220;FOR&#8221; ALL PROPOSALS.</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 style="font-weight: bold;">PLEASE SIGN, DATE AND RETURN PROMPTLY IN THE ENCLOSED ENVELOPE. PLEASE MARK YOUR VOTE IN BLUE OR BLACK INK AS SHOWN HERE &#9746;</font></div>
    <div style="text-align: justify; line-height: 1.25;">
      <hr noshade="noshade" align="center" style="height: 2px; color: #000000; background-color: #000000; text-align: center; margin-left: auto; margin-right: auto; border: none;"></div>
    <div style="text-align: justify; line-height: 1.25;">&#160;</div>
    <table cellspacing="0" cellpadding="0" id="z273170e102c74b53be30115f350af7a8" 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;">
            <div>Proposal to re-elect Messrs. Yitzhak Nissan, Mordechai Marmorstein, David Rubner and Erez Meltzer to the Company&#8217;s Board of Directors, to serve until the next annual general meeting of shareholders and until their successors have been duly
              elected and qualified;</div>
          </td>
        </tr>

    </table>
    <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;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; &#9744; FOR ALL NOMINEES&#160; &#160; &#160; &#160;&#160;&#160; &#9744; WITHHOLD AUTHORITY FOR ALL NOMINEES</div>
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        <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;">
            <div>Proposal to approve the Company&#8217;s Amended and Restated Compensation Policy, as described in the Proxy Statement;</div>
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        </tr>

    </table>
    <div style="line-height: 1.25;"><br style="line-height: 1.25;">
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            <td style="width: 20.00%;">
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              <div>&#160;</div>
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    </div>
    <div style="margin-right: 18pt; margin-left: 36pt; line-height: 1.25; font-style: italic;">IMPORTANT: Please indicate whether or not you have a &#8220;<font style="font-weight: bold;">Personal Interest</font>&#8221; in the above Proposal 2, by marking an &#8220;X&#8221; in
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    </div>
    <div style="text-align: center; margin-right: 18pt; line-height: 1.25;">I HAVE A PERSONAL INTEREST&#160;&#160;&#160;&#160;&#160;&#160; YES &#9744;&#160;&#160; NO &#9744;</div>
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        <tr>
          <td style="width: 18pt;"><br>
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          <td style="width: 18pt; vertical-align: top; align: right;">3.</td>
          <td style="width: auto; vertical-align: top;">
            <div>Proposal to approve the extension, amendment and restatement of the Company&#8217;s Amended Management Agreement with Nistec Ltd., the Company&#8217;s Controlling shareholder.</div>
          </td>
        </tr>

    </table>
    <div style="line-height: 1.25;"><br style="line-height: 1.25;">
    </div>
    <div style="line-height: 1.25;">
      <div style="line-height: 1.25;">
        <table cellspacing="0" cellpadding="0" border="0" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; color: #000000; width: 100%;">

            <tr>
              <td style="width: 20.00%;">
                <div>&#160;</div>
              </td>
              <td style="width: 20.00%;">
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              <td style="width: 20.00%;">
                <div style="text-align: center;">&#160; &#9744; ABSTAIN</div>
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              <td style="width: 20.00%;">
                <div>&#160;</div>
              </td>
            </tr>

        </table>
      </div>
      <div style="line-height: 1.25;"><br style="line-height: 1.25;">
      </div>
    </div>
    <div style="margin-right: 18pt; margin-left: 36pt; line-height: 1.25; font-style: italic;">IMPORTANT: Please indicate whether or not you have a &#8220;<font style="font-weight: bold;">Personal Interest</font>&#8221; in the above Proposal 3, by marking an &#8220;X&#8221; in
      the one of the boxes below. <font style="font-weight: bold;">Your vote will not be counted if you do not fill in one of the boxes below.</font></div>
    <div style="line-height: 1.25;">
      <div style="text-align: center; margin-right: 18pt; line-height: 1.25;"> <br>
      </div>
      <div style="text-align: center; margin-right: 18pt; line-height: 1.25;">I HAVE A PERSONAL INTEREST&#160;&#160;&#160;&#160;&#160;&#160; YES &#9744;&#160;&#160; NO &#9744;</div>
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        <tr>
          <td style="width: 18pt;"><br>
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          <td style="width: 18pt; vertical-align: top; align: right;">4.</td>
          <td style="width: auto; vertical-align: top;">
            <div>Proposal to approve the extension of the exculpation letter granted to Mr. Yitzhak Nissan, as described in the Proxy Statement.</div>
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        </tr>

    </table>
    <div style="line-height: 1.25;"><br style="line-height: 1.25;">
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    <div style="line-height: 1.25;">
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            <tr>
              <td style="width: 20.00%;">
                <div>&#160;</div>
              </td>
              <td style="width: 20.00%;">
                <div style="text-align: center;">&#160;&#9744; FOR&#160; </div>
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              <td style="width: 20.00%;">
                <div style="text-align: center;">&#160; &#9744; AGAINST&#160; </div>
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              <td style="width: 20.00%;">
                <div style="text-align: center;">&#160; &#9744; ABSTAIN</div>
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              <td style="width: 20.00%;">
                <div>&#160;</div>
              </td>
            </tr>

        </table>
      </div>
      <div style="line-height: 1.25;"><br style="line-height: 1.25;">
      </div>
    </div>
    <div style="margin-right: 18pt; margin-left: 36pt; line-height: 1.25; font-style: italic;">IMPORTANT: Please indicate whether or not you have a &#8220;<font style="font-weight: bold;">Personal Interest</font>&#8221; in the above Proposal 4, by marking an &#8220;X&#8221; in
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    <div style="text-align: center; margin-right: 18pt; line-height: 1.25;"> <br>
    </div>
    <div style="text-align: center; margin-right: 18pt; line-height: 1.25;">
      <div style="margin-right: 18pt; line-height: 1.25;">I HAVE A PERSONAL INTEREST&#160;&#160;&#160;&#160;&#160;&#160; YES &#9744;&#160;&#160; NO &#9744;</div>
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          <td style="width: 18pt;"><br>
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          <td style="width: 18pt; vertical-align: top; align: right;">5.</td>
          <td style="width: auto; vertical-align: top;">
            <div>Proposal to approve the extension of the indemnification letter granted to Mr. Yitzhak Nissan, as described in the Proxy Statement.</div>
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        </tr>

    </table>
    <div style="line-height: 1.25;"><br style="line-height: 1.25;">
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    <div style="line-height: 1.25;">
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            <tr>
              <td style="width: 20.00%;">
                <div>&#160;</div>
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              <td style="width: 20.00%;">
                <div style="text-align: center;">&#160;&#9744; FOR&#160; </div>
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              <td style="width: 20.00%;">
                <div style="text-align: center;">&#160; &#9744; AGAINST&#160; </div>
              </td>
              <td style="width: 20.00%;">
                <div style="text-align: center;">&#160; &#9744; ABSTAIN</div>
              </td>
              <td style="width: 20.00%;">
                <div>&#160;</div>
              </td>
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        </table>
      </div>
    </div>
    <div style="text-align: justify; margin-right: 36pt; margin-left: 36pt; line-height: 1.25;"><br style="line-height: 1.25;">
    </div>
    <div style="margin-right: 18pt; margin-left: 36pt; line-height: 1.25; font-style: italic;">IMPORTANT: Please indicate whether or not you have a &#8220;<font style="font-weight: bold;">Personal Interest</font>&#8221; in the above Proposal 5, by marking an &#8220;X&#8221; in
      the one of the boxes below. <font style="font-weight: bold;">Your vote will not be counted if you do not fill in one of the boxes below.</font></div>
    <div style="text-align: center; margin-right: 18pt; line-height: 1.25;"> <br>
    </div>
    <div style="text-align: center; margin-right: 18pt; line-height: 1.25;">
      <div style="margin-right: 18pt; line-height: 1.25;">I HAVE A PERSONAL INTEREST&#160;&#160;&#160;&#160;&#160;&#160; YES &#9744;&#160;&#160; NO &#9744;</div>
    </div>
    <div style="line-height: 1.25;"><br style="line-height: 1.25;">
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        <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;">
            <div>Proposal to approve the amendment to the terms of employment of the Company&#8217;s CEO, Mr. Eli Yaffe, as described in the Proxy Statement.</div>
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        </tr>

    </table>
    <div style="line-height: 1.25;"><br style="line-height: 1.25;">
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    <div style="line-height: 1.25;">
      <div style="line-height: 1.25;">
        <table cellspacing="0" cellpadding="0" border="0" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; color: #000000; width: 100%;">

            <tr>
              <td style="width: 20.00%;">
                <div>&#160;</div>
              </td>
              <td style="width: 20.00%;">
                <div style="text-align: center;">&#160;&#9744; FOR&#160; </div>
              </td>
              <td style="width: 20.00%;">
                <div style="text-align: center;">&#160; &#9744; AGAINST&#160; </div>
              </td>
              <td style="width: 20.00%;">
                <div style="text-align: center;">&#160; &#9744; ABSTAIN</div>
              </td>
              <td style="width: 20.00%;">
                <div>&#160;</div>
              </td>
            </tr>

        </table>
      </div>
    </div>
    <div style="line-height: 1.25;"><br style="line-height: 1.25;">
    </div>
    <div style="margin-right: 18pt; margin-left: 36pt; line-height: 1.25; font-style: italic;">IMPORTANT: Please indicate whether or not you have a &#8220;<font style="font-weight: bold;">Personal Interest</font>&#8221; in the above Proposal 6, by marking an &#8220;X&#8221; in
      the one of the boxes below. <font style="font-weight: bold;">Your vote will not be counted if you do not fill in one of the boxes below.</font></div>
    <div style="text-align: center; margin-right: 18pt; line-height: 1.25;"> <br>
    </div>
    <div style="text-align: center; margin-right: 18pt; line-height: 1.25;">
      <div style="margin-right: 18pt; line-height: 1.25;">I HAVE A PERSONAL INTEREST&#160;&#160;&#160;&#160;&#160;&#160; YES &#9744;&#160;&#160; NO &#9744;</div>
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          <td style="width: 18pt;"><br>
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          <td style="width: 18pt; vertical-align: top; align: right;">7.</td>
          <td style="width: auto; vertical-align: top;">
            <div>Proposal to ratify and approve the performance bonus granted to the Company&#8217;s CEO, Mr. Eli Yaffe, for the year 2021, as described in the Proxy Statement.</div>
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        </tr>

    </table>
    <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;">
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            <tr>
              <td style="width: 20.00%;">
                <div>&#160;</div>
              </td>
              <td style="width: 20.00%;">
                <div style="text-align: center;">&#160;&#9744; FOR&#160; </div>
              </td>
              <td style="width: 20.00%;">
                <div style="text-align: center;">&#160; &#9744; AGAINST&#160; </div>
              </td>
              <td style="width: 20.00%;">
                <div style="text-align: center;">&#160; &#9744; ABSTAIN</div>
              </td>
              <td style="width: 20.00%;">
                <div>&#160;</div>
              </td>
            </tr>

        </table>
      </div>
      <div style="line-height: 1.25;"><br style="line-height: 1.25;">
      </div>
    </div>
    <div style="margin-right: 18pt; margin-left: 36pt; line-height: 1.25; font-style: italic;">IMPORTANT: Please indicate whether or not you have a &#8220;<font style="font-weight: bold;">Personal Interest</font>&#8221; in the above Proposal 7, by marking an &#8220;X&#8221; in
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    <div style="text-align: center; margin-right: 18pt; line-height: 1.25;"> <br>
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    <div style="text-align: center; margin-right: 18pt; line-height: 1.25;">
      <div style="margin-right: 18pt; line-height: 1.25;">I HAVE A PERSONAL INTEREST&#160;&#160;&#160;&#160;&#160;&#160; YES &#9744;&#160;&#160; NO &#9744;</div>
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          <td style="width: 18pt;"><br>
          </td>
          <td style="width: 18pt; vertical-align: top; align: right;">8.</td>
          <td style="width: auto; vertical-align: top; text-align: justify;">
            <div>Proposal to re-appoint Brightman Almagor Zohar &amp; Co., a firm in the Deloitte Global Network, as the Company&#8217;s independent auditors for the year ending December 31, 2022 and for such additional period until the next annual general
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        </tr>

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    <div style="line-height: 1.25;">
      <div style="line-height: 1.25;"><br style="line-height: 1.25;">
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      <div style="line-height: 1.25;">
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            <tr>
              <td style="width: 20.00%;">
                <div>&#160;</div>
              </td>
              <td style="width: 20.00%;">
                <div style="text-align: center;">&#160;&#9744; FOR&#160; </div>
              </td>
              <td style="width: 20.00%;">
                <div style="text-align: center;">&#160; &#9744; AGAINST&#160; </div>
              </td>
              <td style="width: 20.00%;">
                <div style="text-align: center;">&#160; &#9744; ABSTAIN</div>
              </td>
              <td style="width: 20.00%;">
                <div>&#160;</div>
              </td>
            </tr>

        </table>
      </div>
      <div style="line-height: 1.25;"><br style="line-height: 1.25;">
      </div>
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    <div style="text-align: justify; margin-right: 36pt; margin-left: 36pt; line-height: 1.25; font-weight: bold;">With respect to all of the proposals, please also indicate with an X which of the following criteria is applicable to you, otherwise your
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    <div style="line-height: 1.25;"><br style="line-height: 1.25;">
    </div>
    <div>
      <div>
        <div>
          <table cellspacing="0" cellpadding="0" style="width: 100%; font-family: 'Times New Roman', Times, serif; font-size: 10pt;" id="z00efddf6900f4cc5baa14fff8eae6a39" class="DSPFListTable">

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          </table>
        </div>
      </div>
    </div>
    <div style="line-height: 1.25; font-family: 'Times New Roman',Times,serif;">
      <div>
        <div>
          <div>
            <table cellspacing="0" cellpadding="0" style="width: 100%; font-family: 'Times New Roman', Times, serif; font-size: 10pt;" class="DSPFListTable">

                <tr style="vertical-align: top;">
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                  </td>
                </tr>

            </table>
          </div>
        </div>
      </div>
      <div style="line-height: 1.25;">
        <div>
          <div>
            <div>
              <table cellspacing="0" cellpadding="0" style="width: 100%; font-family: 'Times New Roman', Times, serif; font-size: 10pt;" class="DSPFListTable">

                  <tr style="vertical-align: top;">
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                    <td style="align: left; vertical-align: top; width: auto;">
                      <div style="text-align: justify; line-height: 1.25; font-family: 'Times New Roman',Times,serif;">&#9744;</div>
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                  </tr>

              </table>
            </div>
          </div>
        </div>
        <div style="line-height: 1.25;">
          <div>
            <div>
              <div>
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                        <div style="text-align: justify; line-height: 1.25; font-family: 'Times New Roman',Times,serif;"><font style="line-height: 1.25;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font>None of the foregoing&#160; &#160; </div>
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                        <div style="text-align: justify; line-height: 1.25; font-family: 'Times New Roman',Times,serif;">&#9744;</div>
                      </td>
                    </tr>

                </table>
              </div>
            </div>
          </div>
          <div style="text-align: justify; margin-right: 36pt; line-height: 1.25; font-family: 'Times New Roman', Times, serif;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; &#160; </div>
        </div>
      </div>
    </div>
    <div style="text-align: center; line-height: 1.25; font-weight: bold;">Please sign, date and return the card promptly in the accompanying envelope.</div>
    <div style="line-height: 1.25;"><br style="line-height: 1.25;">
    </div>
    <div style="line-height: 1.25;">
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          <tr>
            <td style="width: 16.67%;">
              <div>&#160;</div>
            </td>
            <td style="width: 16.67%;">
              <div style="text-align: left;"><u>&#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;&#160;&#160;&#160;&#160;&#160; </u><br>
              </div>
              <div style="text-align: left;">Signature of Shareholder <br>
              </div>
            </td>
            <td style="width: 16.67%;">
              <div><u>&#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; </u><br>
              </div>
              <div>Date:&#160; &#160; </div>
            </td>
            <td style="width: 16.67%;">
              <div style="text-align: left;"> <u>&#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;&#160;&#160;&#160;&#160;&#160; <br>
                </u></div>
              <div style="text-align: left;">Signature of Shareholder <br>
              </div>
            </td>
            <td style="width: 16.67%;">
              <div><u>&#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; </u><br>
              </div>
              <div>Date:</div>
            </td>
            <td style="width: 16.67%;">
              <div>&#160;</div>
            </td>
          </tr>

      </table>
    </div>
    <br>
    <div style="line-height: 1.25;"><font style="font-weight: bold;">Note: </font>Please sign exactly as your name or names appear on this Proxy. When shares are held jointly, each holder should sign or the senior of the joint tenants should sign. When
      signing as executor, administrator, attorney, trustee or guardian, please give full title as such. If the signer is a corporation, please sign full corporate name by duly authorized officer, giving full title as such. If signer is a partnership,
      please sign in partnership name by authorized person.</div>
    <div style="line-height: 1.25;"> <br>
    </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>
  </div>
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</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
