<SEC-DOCUMENT>0001178913-23-002750.txt : 20230808
<SEC-HEADER>0001178913-23-002750.hdr.sgml : 20230808
<ACCEPTANCE-DATETIME>20230808161513
ACCESSION NUMBER:		0001178913-23-002750
CONFORMED SUBMISSION TYPE:	6-K
PUBLIC DOCUMENT COUNT:		3
CONFORMED PERIOD OF REPORT:	20230808
FILED AS OF DATE:		20230808
DATE AS OF CHANGE:		20230808

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:		231151508

	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>zk2330105.htm
<DESCRIPTION>6-K
<TEXT>
<html>
  <head>
    <title></title>
    <!-- Licensed to: Z-K GLOBAL
         Document created using Broadridge PROfile 23.7.1.5162
         Copyright 1995 - 2023 Broadridge -->
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    <div><br>
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    <div>
      <div style="text-align: center; line-height: 1.25; font-family: 'Times New Roman',Times,serif; font-size: 14pt; font-weight: bold;">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;">
        <hr align="center" style="height: 2px; width: 10%; 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;"> <br>
      </div>
      <div style="text-align: center; line-height: 1.25; font-family: 'Times New Roman',Times,serif; font-size: 14pt; font-weight: bold;">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 </div>
      <div style="text-align: center; line-height: 1.25; font-weight: bold;">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 August 2023</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;"><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 </font>&#9746;&#160;&#160;&#160;&#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="line-height: 1.25; font-weight: bold;">This Form 6-K is being incorporated by reference into the Registrant&#8217;s Registration Statements on Form S-8 File Nos.
        333-123559 and 333-130611 and on Form F-3 File No. 333-266346.</div>
      <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;">Eltek Ltd.</div>
      <div style="text-align: center; line-height: 1.25;">&#160;</div>
      <div style="text-align: center; line-height: 1.25; font-family: 'Times New Roman',Times,serif;">EXPLANATORY NOTE</div>
      <div style="text-align: justify; margin-left: 180pt; 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;"><br style="line-height: 1.25;">
      </div>
      <table cellspacing="0" cellpadding="0" id="z454bee115b424df7a912a41550d1ba0a" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

          <tr>
            <td style="width: 6%; vertical-align: top;">
              <div style="line-height: 1.25;">99.1</div>
            </td>
            <td style="width: 94%; vertical-align: top;">
              <div style="line-height: 1.25;">Notice and Proxy of Special General Meeting of Shareholders to be held on September 12, 2023</div>
            </td>
          </tr>
          <tr>
            <td style="width: 6%; vertical-align: top;">
              <div style="line-height: 1.25;">99.2</div>
            </td>
            <td style="width: 94%; vertical-align: top;">
              <div style="line-height: 1.25;">Form of Proxy Card</div>
            </td>
          </tr>

      </table>
      <div style="line-height: 1.25;"><br style="line-height: 1.25;">
      </div>
      <div style="line-height: 1.25;"><br style="line-height: 1.25;">
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      <br>
      <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;" colspan="1">&#160;</td>
            <td style="width: 100%; vertical-align: top;">
              <div style="line-height: 1.25;">ELTEK LTD.</div>
            </td>
          </tr>
          <tr>
            <td style="width: 50%; vertical-align: top;" colspan="1">&#160;</td>
            <td style="width: 100%; vertical-align: top;">
              <div style="text-align: justify; line-height: 1.25; font-family: 'Times New Roman',Times,serif;">(Registrant)</div>
            </td>
          </tr>
          <tr>
            <td style="width: 50%; vertical-align: top;" colspan="1">&#160;</td>
            <td style="width: 100%; vertical-align: top;">&#160;</td>
          </tr>
          <tr>
            <td style="width: 50%; vertical-align: top;" colspan="1">&#160;</td>
            <td style="width: 100%; vertical-align: top;">
              <div style="text-align: justify; line-height: 1.25;"><u>By: <font style="font-style: italic;">Ron Freund</font></u></div>
            </td>
          </tr>
          <tr>
            <td style="width: 50%; vertical-align: top;" colspan="1">&#160;</td>
            <td style="width: 100%; vertical-align: top;">
              <div style="text-align: justify; line-height: 1.25;">Ron Freund</div>
            </td>
          </tr>
          <tr>
            <td style="width: 50%; vertical-align: top;" colspan="1">&#160;</td>
            <td style="width: 100%; vertical-align: top;">
              <div style="text-align: justify; line-height: 1.25;">Chief Financial Officer</div>
            </td>
          </tr>

      </table>
      <br>
      <div style="line-height: 1.25;">Date:&#160; August 8, 2023</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: 11.53%; vertical-align: top; border-bottom: #000000 2px solid;">
              <div style="text-align: center; line-height: 1.25;">EXHIBIT NO.</div>
            </td>
            <td style="width: 1.54%; vertical-align: top;">
              <div style="text-align: justify; line-height: 1.25;">&#160;</div>
            </td>
            <td style="width: 86.94%; vertical-align: bottom; border-bottom: #000000 2px solid;">
              <div style="text-align: justify; line-height: 1.25;">DESCRIPTION</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11.53%; vertical-align: top;">
              <div style="text-align: justify; line-height: 1.25;">&#160;</div>
            </td>
            <td style="width: 1.54%; vertical-align: top;">
              <div style="text-align: justify; line-height: 1.25;">&#160;</div>
            </td>
            <td style="width: 86.94%; vertical-align: top;">
              <div style="text-align: justify; line-height: 1.25;">&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11.53%; 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: 1.54%; vertical-align: top;"><br>
            </td>
            <td style="width: 86.94%; vertical-align: top;">
              <div style="line-height: 1.25;"><a href="exhibit_99-1.htm">Notice and Proxy of
                  Special General Meeting of Shareholders to be held on September 12, 2023</a></div>
            </td>
          </tr>
          <tr>
            <td style="width: 11.53%; vertical-align: top;">
              <div style="text-align: justify; line-height: 1.25;">&#160;</div>
            </td>
            <td style="width: 1.54%; vertical-align: top;">
              <div style="text-align: justify; line-height: 1.25;">&#160;</div>
            </td>
            <td style="width: 86.94%; vertical-align: top;">&#160;</td>
          </tr>
          <tr>
            <td style="width: 11.53%; 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: 1.54%; vertical-align: top;"><br>
            </td>
            <td style="width: 86.94%; 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>
<TYPE>EX-99.1
<SEQUENCE>2
<FILENAME>exhibit_99-1.htm
<DESCRIPTION>EXHIBIT 99.1
<TEXT>
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    <title></title>
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        <div style="line-height: 1.25; text-align: right;"><u><font style="font-weight: bold;">Exhibit 99.1</font></u><br style="line-height: 1.25;">
        </div>
      </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 September 12, 2023</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 general meeting of the 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 September 12, 2023 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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            <td style="width: 36pt; vertical-align: top;">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 (the &#8220;<u>Board</u>&#8221;) and to elect Ms. Revital Cohen-Tzemach to the Board, to serve until the next annual general
                meeting of the shareholders and until their successors have been duly elected and qualified;</div>
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      <div style="line-height: 1.25">&#160;</div>
      <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="z323f08ba314b4f439e21af4c090ed213">

          <tr>
            <td style="width: 22.5pt;"><br>
            </td>
            <td style="width: 36pt; vertical-align: top;">2.</td>
            <td style="width: auto; vertical-align: top; text-align: justify;">
              <div>To re-elect Mr. Gad Dovev for a fourth term as an external director, to hold office for three (3) years, as of October 6, 2023;</div>
            </td>
          </tr>

      </table>
      <div style="line-height: 1.25">&#160;</div>
      <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="z83239e282df64ab7bc1369f5412a8d2f">

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            <td style="width: 36pt; vertical-align: top;">3.</td>
            <td style="width: auto; vertical-align: top; text-align: justify;">
              <div>To approve the Company&#8217;s Second Amended and Restated Compensation Policy, as described in the Proxy Statement;</div>
            </td>
          </tr>

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      <div style="line-height: 1.25">&#160;</div>
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          <tr>
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            <td style="width: 36pt; vertical-align: top;">4.</td>
            <td style="width: auto; vertical-align: top; text-align: justify;">
              <div>To approve the grant of an annual bonus for the year 2022 to Ms. Revital Cohen-Tzemach, special project manager and daughter of our Controlling shareholder, as described in the Proxy Statement;</div>
            </td>
          </tr>

      </table>
      <div style="line-height: 1.25">&#160;</div>
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            </td>
            <td style="width: 36pt; vertical-align: top;">5.</td>
            <td style="width: auto; vertical-align: top; text-align: justify;">
              <div>To ratify and approve the extension of the Company&#8217;s employment of Ms. Revital Cohen-Tzemach, daughter of our Controlling shareholder, in the position of special project manager;</div>
            </td>
          </tr>

      </table>
      <div style="line-height: 1.25">&#160;</div>
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          <tr>
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            <td style="width: 36pt; vertical-align: top;">6.</td>
            <td style="width: auto; vertical-align: top; text-align: justify;">
              <div>To approve the grant of options to the Company&#8217;s directors (including the external directors, but excluding our Controlling shareholder and Chairman of the Board, Mr. Yitzhak Nissan, and his daughter, Ms. Revital Cohen-Tzemach), as
                described in the Proxy Statement;</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;">7.</td>
            <td style="width: auto; vertical-align: top; text-align: justify;">
              <div>To approve the grant of options to Mr. Eli Yaffe, the Company&#8217;s Chief Executive Officer (the &#8220;<u>CEO</u>&#8221;), as described in the Proxy Statement;</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;">8.</td>
            <td style="width: auto; vertical-align: top; text-align: justify;">
              <div>To approve the grant of options to Ms. Revital Cohen-Tzemach, special project manager and daughter of our Controlling shareholder, as described in the Proxy Statement;</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;">9.</td>
            <td style="width: auto; vertical-align: top; text-align: justify;">
              <div>To approve the issuance of an exculpation letter to Ms. Revital Cohen-Tzemach, as described in the Proxy Statement;</div>
            </td>
          </tr>

      </table>
      <div style="line-height: 1.25">&#160;</div>
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          <tr>
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            </td>
            <td style="width: 36pt; vertical-align: top;">10.</td>
            <td style="width: auto; vertical-align: top; text-align: justify;">
              <div>To approve the issuance of an indemnification letter to Ms. Revital Cohen-Tzemach, as described in the Proxy Statement;</div>
            </td>
          </tr>

      </table>
      <div style="line-height: 1.25">&#160;</div>
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            <td style="width: 22.5pt;"><br>
            </td>
            <td style="width: 36pt; vertical-align: top;">11.</td>
            <td style="width: auto; vertical-align: top; text-align: justify;">
              <div>To approve a determination regarding the vesting and exercisability of options granted to Ms. Revital Cohen-Tzemach, as described in the Proxy Statement;</div>
            </td>
          </tr>

      </table>
      <div style="line-height: 1.25">&#160;</div>
      <div class="BRPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
        <div class="BRPFPageBreak" style="page-break-after: always;">
          <hr noshade="noshade" style="border-width: 0px; clear: both; margin: 4px 0px; width: 100%; height: 2px; color: #000000; background-color: #000000;"></div>
      </div>
      <!--PROfilePageNumberReset%LCR%2%- % -%-->
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          <tr>
            <td style="width: 22.5pt;"><br>
            </td>
            <td style="width: 36pt; vertical-align: top;">12.</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, 2023 and for such additional period until the next annual general meeting of
                shareholders, and to authorize the Board to approve their compensation; and</div>
            </td>
          </tr>

      </table>
      <div style="line-height: 1.25">&#160;</div>
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          <tr>
            <td style="width: 22.4pt;"><br>
            </td>
            <td style="width: 36pt; vertical-align: top;">13.</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, 2022.</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 Board has fixed the close of business on August 10, 2023, 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="text-align: justify; text-indent: 36pt; line-height: 1.25;">Holders of record at the close of business on August 10, 2023 (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 by its transfer agent, by September 10, 2023 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 &#8220;<u>Articles</u>&#8221;), 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 thirty-three percent (33%) of the total voting power attached to the Ordinary Shares then outstanding.</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, 6 and 12 are ordinary resolutions, which require the affirmative vote of a majority of the Ordinary Shares present and voting on the proposed resolution, in person or
          by proxy. 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;">Item 2 is a special resolution, which is submitted for our&#160;shareholders&#8217; approval, following approval of each of (i) the Company&#8217;s Audit Committee, and (ii) the Board, and which
        requires the affirmative vote of a majority of the Ordinary Shares present and voting on the matter, in person or by proxy, <font style="font-style: italic;">provided</font> that either (i) at least a majority of the Ordinary Shares voted by
        shareholders who are not Controlling shareholders and who do not have a Personal Interest in the matter, are voted in favor of the proposed resolution; or (ii) the total number of the Ordinary Shares voted against the proposed resolution by
        shareholders who are not Controlling shareholders and who do not have a Personal Interest in the matter, does not exceed two percent (2%) of the outstanding voting power in the Company. For the purposes of the vote on Item 2, an interest not
        resulting from ties to the Controlling shareholders is not considered a Personal Interest.</div>
      <div style="line-height: 1.25">&#160;</div>
      <div style="text-align: justify; text-indent: 36pt; line-height: 1.25;">Items 3 to 5 and 7 to 11 are special resolutions, which are submitted for our&#160;shareholders&#8217; approval, following approval of each of (i) the Company&#8217;s Audit Committee or
        Compensation Committee, as applicable, and (ii) the Board, and which requires the affirmative vote of a majority of the Ordinary Shares present and voting on the matter, in person or by proxy, <font style="font-style: italic;">provided</font> that
        either (i) at least a majority of the Ordinary Shares voted by shareholders who are not Controlling shareholders and who do not have a Personal Interest in the matter, are voted in favor of the proposed resolution; or (ii) the total number of the
        Ordinary Shares voted against the proposed resolution by shareholders who are not Controlling shareholders and who do not have a Personal Interest in the matter, does not exceed two percent (2%) of the outstanding voting power in the Company.</div>
      <div style="line-height: 1.25">&#160;</div>
      <div class="BRPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
        <div class="BRPFPageNumberArea" style="text-align: center;"><font class="BRPFPageNumber" style="font-weight: normal; font-style: normal;">- ii -</font></div>
        <div class="BRPFPageBreak" style="page-break-after: always;">
          <hr noshade="noshade" style="border-width: 0px; clear: both; margin: 4px 0px; width: 100%; height: 2px; color: #000000; background-color: #000000;"></div>
      </div>
      <div style="text-align: justify; text-indent: 36pt; line-height: 1.25;">Generally, an act or transaction with a Controlling shareholder or in which a Controlling shareholder has a Personal Interest requires our shareholders&#8217; 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 required to indicate if he, she or it has a Personal Interest in connection with
        certain proposals. If any shareholder casting a vote in connection with such a 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 their 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, 2022 described in Item 13 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 Board 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="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 Articles, 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>
      <div style="line-height: 1.25;">
        <table cellspacing="0" cellpadding="0" border="0" id="z114d6fcf8af9425388c27f4da29e33a9" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; color: #000000; width: 100%;">

            <tr>
              <td style="width: 50.00%;">
                <div>&#160;</div>
              </td>
              <td style="width: 50%; text-align: center;">
                <div style="line-height: 1.25; font-family: 'Times New Roman',Times,serif;">By Order of the Board of Directors,</div>
                <div style="line-height: 1.25;">&#160; <br>
                </div>
                <div style="line-height: 1.25;"><font style="font-family: 'Times New Roman',Times,serif;">Yitzhak Nissan</font></div>
                <div style="line-height: 1.25;">&#160;</div>
                <div style="line-height: 1.25;"><font style="font-family: 'Times New Roman',Times,serif;">Chairman of the Board of Directors</font></div>
              </td>
            </tr>

        </table>
      </div>
      <div style="line-height: 1.25;">&#160;</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="line-height: 1.25"> <br>
      </div>
      <div class="BRPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
        <div class="BRPFPageNumberArea" style="text-align: center;"><font class="BRPFPageNumber" style="font-weight: normal; font-style: normal;">- iii -</font></div>
        <div class="BRPFPageBreak" style="page-break-after: always;">
          <hr noshade="noshade" style="border-width: 0px; clear: both; margin: 4px 0px; width: 100%; height: 2px; color: #000000; background-color: #000000;"></div>
      </div>
      <div style="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;">20 Ben Zion Gelis Street</div>
      <div style="line-height: 1.25">&#160;</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 September 12, 2023</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 the Company&#8217;s shareholders to be held at the Company&#8217;s offices at 20 Ben Zion Gelis Street, Petach Tikva, Israel, on September 12, 2023 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" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="z4896ee3a8fb14b049ac0004f01b4a6b1">

          <tr>
            <td style="width: 22.4pt;"><br>
            </td>
            <td style="width: 36pt; vertical-align: top;">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 (the &#8220;<u>Board</u>&#8221;) and to elect Ms. Revital Cohen-Tzemach to the Board, 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" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="z4eca1ef290bb4dd7a82cef210a8b522a">

          <tr>
            <td style="width: 22.4pt;"><br>
            </td>
            <td style="width: 36pt; vertical-align: top;">2.</td>
            <td style="width: auto; vertical-align: top; text-align: justify;">
              <div>To re-elect Mr. Gad Dovev for a fourth term as an external director, to hold office for three (3) years, as of October 6, 2023;</div>
            </td>
          </tr>

      </table>
      <div style="line-height: 1.25">&#160;</div>
      <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="z7d8cb15bcb1e44cc9b40d401035c5430">

          <tr>
            <td style="width: 22.4pt;"><br>
            </td>
            <td style="width: 36pt; vertical-align: top;">3.</td>
            <td style="width: auto; vertical-align: top; text-align: justify;">
              <div>To approve the Company&#8217;s Second 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" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="z67cccebb1e54429ea62466161f167ade">

          <tr>
            <td style="width: 22.4pt;"><br>
            </td>
            <td style="width: 36pt; vertical-align: top;">4.</td>
            <td style="width: auto; vertical-align: top; text-align: justify;">
              <div>To approve the grant of an annual bonus for the year 2022 to Ms. Revital Cohen-Tzemach, special project manager and daughter of our Controlling shareholder, as described in the Proxy Statement;</div>
            </td>
          </tr>

      </table>
      <div style="line-height: 1.25">&#160;</div>
      <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="z7c48ed852c7b48faaaa1a4b034ab1321">

          <tr>
            <td style="width: 22.4pt;"><br>
            </td>
            <td style="width: 36pt; vertical-align: top;">5.</td>
            <td style="width: auto; vertical-align: top; text-align: justify;">
              <div>To ratify and approve the extension of the Company&#8217;s employment of Ms. Revital Cohen-Tzemach, daughter of our Controlling shareholder, in the position of special project manager;</div>
            </td>
          </tr>

      </table>
      <div style="line-height: 1.25">&#160;</div>
      <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="ze5248f1652f44b6ba9370362bd5e2fdd">

          <tr>
            <td style="width: 22.4pt;"><br>
            </td>
            <td style="width: 36pt; vertical-align: top;">6.</td>
            <td style="width: auto; vertical-align: top; text-align: justify;">
              <div>To approve the grant of options to the Company&#8217;s directors (including the external directors, but excluding our Controlling shareholder and Chairman of the Board, Mr. Yitzhak Nissan, and his daughter, Ms. Revital Cohen-Tzemach), as
                described in the Proxy Statement;</div>
            </td>
          </tr>

      </table>
      <div style="line-height: 1.25">&#160;</div>
      <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="zca54e68806c04f74b4de7c2c5340e0ac">

          <tr>
            <td style="width: 22.4pt;"><br>
            </td>
            <td style="width: 36pt; vertical-align: top;">7.</td>
            <td style="width: auto; vertical-align: top; text-align: justify;">
              <div>To approve the grant of options to Mr. Eli Yaffe, the Company&#8217;s Chief Executive Officer (the &#8220;<u>CEO</u>&#8221;), as described in the Proxy Statement;</div>
            </td>
          </tr>

      </table>
      <div style="line-height: 1.25">&#160;</div>
      <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="z7c7ce554ffcf46d6ab3cc9f46e627bcb">

          <tr>
            <td style="width: 22.4pt;"><br>
            </td>
            <td style="width: 36pt; vertical-align: top;">8.</td>
            <td style="width: auto; vertical-align: top; text-align: justify;">
              <div>To approve the grant of options to Ms. Revital Cohen-Tzemach, special project manager and daughter of our Controlling shareholder, as described in the Proxy Statement;</div>
            </td>
          </tr>

      </table>
      <div style="line-height: 1.25">&#160;</div>
      <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="z9d2c834ff7d94aaf936ffd1f333666e9">

          <tr>
            <td style="width: 22.4pt;"><br>
            </td>
            <td style="width: 36pt; vertical-align: top;">9.</td>
            <td style="width: auto; vertical-align: top; text-align: justify;">
              <div>To approve the issuance of an exculpation letter to Ms. Revital Cohen-Tzemach, as described in the Proxy Statement;</div>
            </td>
          </tr>

      </table>
      <div style="line-height: 1.25">&#160;</div>
      <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="z41feb9e31f6445cc8c2d0b71f0eab307">

          <tr>
            <td style="width: 22.4pt;"><br>
            </td>
            <td style="width: 36pt; vertical-align: top;">10.</td>
            <td style="width: auto; vertical-align: top; text-align: justify;">
              <div>To approve the issuance of an indemnification letter to Ms. Revital Cohen-Tzemach, as described in the Proxy Statement;</div>
            </td>
          </tr>

      </table>
      <div style="line-height: 1.25">&#160;</div>
      <div class="BRPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
        <div class="BRPFPageBreak" style="page-break-after: always;">
          <hr noshade="noshade" style="border-width: 0px; clear: both; margin: 4px 0px; width: 100%; height: 2px; color: #000000; background-color: #000000;"></div>
      </div>
      <!--PROfilePageNumberReset%Num%2%%%-->
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          <tr>
            <td style="width: 22.4pt;"><br>
            </td>
            <td style="width: 36pt; vertical-align: top;">11.</td>
            <td style="width: auto; vertical-align: top; text-align: justify;">
              <div>To approve a determination regarding the vesting and exercisability of options granted to Ms. Revital Cohen-Tzemach, as described in the Proxy Statement;</div>
            </td>
          </tr>

      </table>
      <div style="line-height: 1.25">&#160;</div>
      <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="z59191ba6c3cb41dbaeaf4766b89398c5">

          <tr>
            <td style="width: 22.4pt;"><br>
            </td>
            <td style="width: 36pt; vertical-align: top;">12.</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 Board to approve their compensation; and</div>
            </td>
          </tr>

      </table>
      <div style="line-height: 1.25">&#160;</div>
      <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="z0a8753e34e3d4803b3b8cad28c66ab33">

          <tr>
            <td style="width: 22.4pt;"><br>
            </td>
            <td style="width: 36pt; vertical-align: top;">13.</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 , 2022.</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="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 proxy card to shareholders on or about August 15, 2023. 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 August 10, 2023 are entitled to notice of and to vote at the Meeting. The Company had 5,913,965 Ordinary
        Shares issued and outstanding on August 3, 2023, 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 (the &#8220;<u>Articles</u>&#8221;) 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 thirty-three percent (33%)<font style="font-weight: bold;">&#160;</font>of the total voting
        power attached to the Ordinary Shares then outstanding, 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 Ordinary Share as of the close of business on August 10, 2023 are entitled to notice of, and to vote at the Meeting, in person or by proxy:</div>
      <div style="line-height: 1.25">&#160;</div>
      <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="z6218326d029d4d0ea66e6ccc00fe311b">

          <tr>
            <td style="width: 18pt;"><br>
            </td>
            <td style="width: 18pt; vertical-align: top;">&#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>
      <div class="BRPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
        <div class="BRPFPageNumberArea" style="text-align: center;"><font class="BRPFPageNumber" style="font-weight: normal; font-style: normal;">2</font></div>
        <div class="BRPFPageBreak" style="page-break-after: always;">
          <hr noshade="noshade" style="border-width: 0px; clear: both; margin: 4px 0px; width: 100%; height: 2px; color: #000000; background-color: #000000;"></div>
      </div>
      <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="z5e53781329be47e5ae0990ab216489ad">

          <tr>
            <td style="width: 18pt;"><br>
            </td>
            <td style="width: 18pt; vertical-align: top;">&#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 September 10, 2023, 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 Board.</div>
            </td>
          </tr>

      </table>
      <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;">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, 6 and 12 are ordinary resolutions, which require the affirmative vote of a majority of the Ordinary Shares present and voting on the proposed resolution, in person or
          by proxy. 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;">Item 2 is a special resolution, which is submitted for our&#160;shareholders&#8217; approval, following approval of each of (i) the Company&#8217;s Audit Committee, and (ii) the Board, and which
        requires the affirmative vote of a majority of the Ordinary Shares present and voting on the matter, in person or by proxy, <font style="font-style: italic;">provided</font> that either (i) at least a majority of the Ordinary Shares voted by
        shareholders who are not Controlling shareholders and who do not have a Personal Interest in the matter, are voted in favor of the proposed resolution; or (ii) the total number of the Ordinary Shares voted against the proposed resolution by
        shareholders who are not Controlling shareholders and who do not have a Personal Interest in the matter, does not exceed two percent (2%) of the outstanding voting power in the Company. For the purposes of the vote on Item 2, an interest not
        resulting from ties to the Controlling shareholders is not considered a Personal Interest.</div>
      <div style="line-height: 1.25">&#160;</div>
      <div style="text-align: justify; text-indent: 36pt; line-height: 1.25;">Items 3 to 5 and 7 to 11 are special resolutions, which are submitted for&#160;our shareholders&#8217; approval, following approval of each of (i) the Company&#8217;s Audit Committee or
        Compensation Committee, as applicable, and (ii) the Board, and which require the affirmative vote of a majority of the Ordinary Shares present and voting on the matter, in person or by proxy, <font style="font-style: italic;">provided</font> that
        either (i) at least a majority of the Ordinary Shares voted by shareholders who are not Controlling shareholders and who do not have a Personal Interest in the matter, are voted in favor of the proposed resolution; or (ii) the total number of
        Ordinary Shares voted against the proposed resolution by shareholders who are not Controlling shareholders and who do not have a Personal Interest in the matter, 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 a Controlling shareholder or in which a Controlling shareholder has a Personal Interest (as defined below) requires our shareholders&#8217;
        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;">For the purposes of this Proxy Statement, <font style="font-weight: bold;">&#8220;<u>Controlling shareholder</u>&#8221;</font> means a person or entity that has the ability to direct the
        Company&#8217;s actions.&#160;For Items 3 and 7, any person holding fifty percent (50%) or more of the outstanding voting power in the Company or of the rights to appoint the Company&#8217;s directors or the CEO is considered a Controlling shareholder,&#160;and for
        Items 4, 5 and 8 to 11, any person holding twenty-five percent (25%) or more of the voting power in the Company, <font style="font-style: italic;">provided</font> that no other person holds fifty percent (50%) or more of the outstanding voting
        power in the Company, or of the rights to appoint the Company&#8217;s directors or the CEO, is considered a Controlling shareholder.</div>
      <div style="line-height: 1.25">&#160;</div>
      <div class="BRPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
        <div class="BRPFPageNumberArea" style="text-align: center;"><font class="BRPFPageNumber" style="font-weight: normal; font-style: normal;">3</font></div>
        <div class="BRPFPageBreak" style="page-break-after: always;">
          <hr noshade="noshade" style="border-width: 0px; clear: both; margin: 4px 0px; width: 100%; height: 2px; color: #000000; background-color: #000000;"></div>
      </div>
      <div style="text-align: justify; text-indent: 36pt; line-height: 1.25;">For the purposes of this Proxy Statement, <font style="font-weight: bold;">&#8220;<u>Personal Interest</u>&#8221;</font> 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/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 and outstanding
        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, Personal Interest 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 required to indicate if he, she or it is a Controlling shareholder, has a Personal
        Interest, is a senior officer of the Company and/or an Israeli Institutional Investor, in connection with certain proposals. 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 such a proposal, is or is not a senior officer of the Company and/or an Israeli Institutional Investor, then their 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;">For the purposes of this Proxy Statement, <font style="font-weight: bold;">&#8220;<u>Institutional Investor</u>&#8221;</font> means any Israeli entity that (a) meets the definition set
        forth in Section 1 of the Supervision of Financial Services Regulations (Provident Funds) (Participation of a Managing Company at a General Meeting), 5769-2009, or (b) constitutes a &#8220;Managing Company&#8221;, as defined in Section 1 of 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, 2022 described under Item 13 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 August 3, 2023, 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 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 5,913,965 Ordinary Shares outstanding as of August 3, 2023.</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>
      <table cellspacing="0" cellpadding="2" border="0" align="center" style="width: 90%; color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; text-align: left;" id="z6b2120a04f4640f2a16b78dfe985b012">

          <tr>
            <td style="width: 32.33%; vertical-align: top; border-top: 2px solid rgb(0, 0, 0); border-left: 2px solid rgb(0, 0, 0);">
              <div style="line-height: 1.25; font-weight: bold;"> <br>
              </div>
              <div style="line-height: 1.25; font-weight: bold;">Name</div>
            </td>
            <td style="width: 33.81%; vertical-align: top; border-top: 2px solid rgb(0, 0, 0); border-left: 2px solid rgb(0, 0, 0);">
              <div style="text-align: center; line-height: 1.25; font-weight: bold;">Number of Ordinary Shares</div>
              <div style="text-align: center; line-height: 1.25; font-weight: bold;"> Beneficially Owned<sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">(1)</sup></div>
            </td>
            <td style="width: 33.86%; vertical-align: top; border-top: 2px solid rgb(0, 0, 0); border-left: 2px solid rgb(0, 0, 0); border-right: 2px solid rgb(0, 0, 0);">
              <div style="line-height: 1.25;">
                <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;">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: 32.33%; vertical-align: middle; border-top: 2px solid rgb(0, 0, 0); border-left: 2px solid rgb(0, 0, 0);">
              <div style="line-height: 1.25;">Yitzhak Nissan<sup style="font-weight: bold; vertical-align: text-top; line-height: 1; font-size: smaller;">(3)</sup></div>
            </td>
            <td style="width: 33.81%; vertical-align: middle; border-top: 2px solid rgb(0, 0, 0); border-left: 2px solid rgb(0, 0, 0);">
              <div style="text-align: center; line-height: 1.25;">165,224</div>
            </td>
            <td style="width: 33.86%; vertical-align: middle; border-top: 2px solid rgb(0, 0, 0); border-left: 2px solid rgb(0, 0, 0); border-right: 2px solid rgb(0, 0, 0);">
              <div style="text-align: center; line-height: 1.25;">2.79%</div>
            </td>
          </tr>
          <tr>
            <td style="width: 32.33%; vertical-align: middle; border-top: 2px solid rgb(0, 0, 0); border-left: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="line-height: 1.25;">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: 33.81%; vertical-align: middle; border-top: 2px solid rgb(0, 0, 0); border-left: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: center; line-height: 1.25;">3,843,608</div>
            </td>
            <td style="width: 33.86%; vertical-align: middle; border-width: 2px; border-style: solid; border-color: rgb(0, 0, 0);">
              <div style="text-align: center; line-height: 1.25;">65.00%</div>
            </td>
          </tr>

      </table>
      <div><br>
      </div>
      <div style="margin-left: 63pt;">
        <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

            <tr>
              <td style="width: 3.1%; vertical-align: top;">
                <div style="line-height: 1.25;"><sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">(1)</sup></div>
              </td>
              <td style="width: 96.9%; vertical-align: middle;">
                <div style="text-align: justify; line-height: 1.25; font-family: 'Times New Roman',Times,serif;">Beneficial ownership is determined in accordance with the rules of the <font style="font-family: 'Times New Roman', Times, serif;">U.S.
                    Securities and Exchange Commission (&#8220;SEC&#8221;)</font> 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>
            <tr>
              <td style="width: 3.1%; vertical-align: top;">
                <div style="line-height: 1.25;"><sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">(2)</sup></div>
              </td>
              <td style="width: 96.9%; vertical-align: middle;">
                <div style="text-align: justify; line-height: 1.25;">The percentages shown are based on 5,913,965 Ordinary Shares issued and outstanding as of August 3, 2023.</div>
              </td>
            </tr>
            <tr>
              <td style="width: 3.1%; vertical-align: top;">
                <div style="line-height: 1.25;"><sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">(3)</sup></div>
              </td>
              <td style="width: 96.9%; vertical-align: middle;">
                <div style="text-align: justify; line-height: 1.25;">Nistec Golan Ltd. is an Israeli private company controlled by Mr. Yitzhak Nissan. Accordingly, Mr. Yitzhak Nissan may be deemed to be the beneficial owner of the Ordinary Shares held
                  directly by Nistec Ltd.</div>
              </td>
            </tr>

        </table>
      </div>
      <div style="line-height: 1.25">&#160;</div>
      <div style="line-height: 1.25">
        <div style="margin-left: 36pt; 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: 36pt; 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, 2022, 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, 2022, which was filed with the SEC on March 29, 2023.</div>
      </div>
      <div class="BRPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
        <div class="BRPFPageNumberArea" style="text-align: center;"><font class="BRPFPageNumber" style="font-weight: normal; font-style: normal;">4</font></div>
        <div class="BRPFPageBreak" style="page-break-after: always;">
          <hr noshade="noshade" style="border-width: 0px; clear: both; margin: 4px 0px; width: 100%; height: 2px; color: #000000; background-color: #000000;"></div>
      </div>
      <div style="line-height: 1.25; text-align: center; font-weight: bold;">&#160;1. ELECTION OF DIRECTORS</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 and to elect one (1) new director, to serve on the Board. Yitzhak Nissan, Mordechai
        Marmorstein, David Rubner and Erez Meltzer have been nominated for re-election, and Ms. Revital Cohen-Tzemach has been nominated for election. Pursuant to the Articles, 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. In accordance with the Companies Law, one external director, Ms. Ilana Lurie, will continue in office until the end of
        her three (3) year term (on September 6, 2024), and the second external director, Mr. Gad Dovev, is nominated for re-election by our shareholders for a fourth three (3) year term, as described in Item 2 below.</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 Audit Committee and the Board has determined that Mordechai Marmorstein has the accounting and financial expertise required under the Companies Law necessary to serve as an
        independent director, and therefore Mr. Marmorstein is nominated to be 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 five (5) 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 the Board 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="2" border="0" style="font-family: 'Times New Roman',Times,serif; font-size: 10pt; width: 100%; text-align: left; color: rgb(0, 0, 0);" id="z0351eacfbcf44f5aa752278c6d77ae43">

          <tr>
            <td style="width: 29.78%; vertical-align: top; border-top: 2px solid rgb(0, 0, 0); border-left: 2px solid rgb(0, 0, 0);">
              <div style="text-align: justify; line-height: 1.25; font-family: 'Times New Roman', Times, serif; font-weight: bold;">Name</div>
            </td>
            <td style="width: 6%; vertical-align: top; border-top: 2px solid rgb(0, 0, 0); border-left: 2px solid rgb(0, 0, 0);">
              <div style="text-align: center; line-height: 1.25; font-family: 'Times New Roman', Times, serif; font-weight: bold;">Age</div>
            </td>
            <td style="width: 63.63%; vertical-align: top; border-top: 2px solid rgb(0, 0, 0); border-left: 2px solid rgb(0, 0, 0); border-right: 2px solid rgb(0, 0, 0);">
              <div style="text-align: justify; line-height: 1.25; font-family: 'Times New Roman', Times, serif; font-weight: bold;">Position</div>
            </td>
          </tr>
          <tr>
            <td style="width: 29.78%; vertical-align: top; border-top: 2px solid rgb(0, 0, 0); border-left: 2px solid rgb(0, 0, 0);">
              <div style="text-align: justify; line-height: 1.25; font-family: 'Times New Roman', Times, serif;">Yitzhak Nissan</div>
            </td>
            <td style="width: 6%; vertical-align: top; border-top: 2px solid rgb(0, 0, 0); border-left: 2px solid rgb(0, 0, 0);">
              <div style="text-align: center; line-height: 1.25;">74</div>
            </td>
            <td style="width: 63.63%; vertical-align: top; border-top: 2px solid rgb(0, 0, 0); border-left: 2px solid rgb(0, 0, 0); border-right: 2px solid rgb(0, 0, 0);">
              <div style="text-align: justify; line-height: 1.25; font-family: 'Times New Roman', Times, serif;">Chairman of the Board</div>
            </td>
          </tr>
          <tr>
            <td style="width: 29.78%; vertical-align: top; border-top: 2px solid rgb(0, 0, 0); border-left: 2px solid rgb(0, 0, 0);">
              <div style="text-align: justify; line-height: 1.25; font-family: 'Times New Roman', Times, serif;">Mordechai Marmorstein</div>
            </td>
            <td style="width: 6%; vertical-align: top; border-top: 2px solid rgb(0, 0, 0); border-left: 2px solid rgb(0, 0, 0);">
              <div style="text-align: center; line-height: 1.25;">75</div>
            </td>
            <td style="width: 63.63%; vertical-align: top; border-top: 2px solid rgb(0, 0, 0); border-left: 2px solid rgb(0, 0, 0); border-right: 2px solid rgb(0, 0, 0);">
              <div style="text-align: justify; line-height: 1.25; font-family: 'Times New Roman', Times, serif;">Director</div>
            </td>
          </tr>
          <tr>
            <td style="width: 29.78%; vertical-align: top; border-top: 2px solid rgb(0, 0, 0); border-left: 2px solid rgb(0, 0, 0);">
              <div style="text-align: justify; line-height: 1.25; font-family: 'Times New Roman', Times, serif;">David Rubner</div>
            </td>
            <td style="width: 6%; vertical-align: top; border-top: 2px solid rgb(0, 0, 0); border-left: 2px solid rgb(0, 0, 0);">
              <div style="text-align: center; line-height: 1.25;">83</div>
            </td>
            <td style="width: 63.63%; vertical-align: top; border-top: 2px solid rgb(0, 0, 0); border-left: 2px solid rgb(0, 0, 0); border-right: 2px solid rgb(0, 0, 0);">
              <div style="text-align: justify; line-height: 1.25; font-family: 'Times New Roman', Times, serif;">Director</div>
            </td>
          </tr>
          <tr>
            <td style="width: 29.78%; vertical-align: top; border-top: 2px solid rgb(0, 0, 0); border-left: 2px solid rgb(0, 0, 0);">
              <div style="text-align: justify; line-height: 1.25; font-family: 'Times New Roman', Times, serif;">Erez Meltzer</div>
            </td>
            <td style="width: 6%; vertical-align: top; border-top: 2px solid rgb(0, 0, 0); border-left: 2px solid rgb(0, 0, 0);">
              <div style="text-align: center; line-height: 1.25;">66</div>
            </td>
            <td style="width: 63.63%; vertical-align: top; border-top: 2px solid rgb(0, 0, 0); border-left: 2px solid rgb(0, 0, 0); border-right: 2px solid rgb(0, 0, 0);">
              <div style="text-align: justify; line-height: 1.25; font-family: 'Times New Roman', Times, serif;">Director</div>
            </td>
          </tr>
          <tr>
            <td style="width: 29.78%; vertical-align: top; border-top: 2px solid rgb(0, 0, 0); border-left: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: justify; line-height: 1.25; font-family: 'Times New Roman', Times, serif;">Revital Cohen-Tzemach</div>
            </td>
            <td style="width: 6%; vertical-align: top; border-top: 2px solid rgb(0, 0, 0); border-left: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: center; line-height: 1.25;">40</div>
            </td>
            <td style="width: 63.63%; vertical-align: top; border-width: 2px; 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;">Director-Nominee</div>
            </td>
          </tr>

      </table>
      <div style="line-height: 1.25">&#160;</div>
      <div class="BRPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
        <div class="BRPFPageNumberArea" style="text-align: center;"><font class="BRPFPageNumber" style="font-weight: normal; font-style: normal;">5</font></div>
        <div class="BRPFPageBreak" style="page-break-after: always;">
          <hr noshade="noshade" style="border-width: 0px; clear: both; margin: 4px 0px; width: 100%; height: 2px; color: #000000; background-color: #000000;"></div>
      </div>
      <div style="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 Board 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="text-align: justify; text-indent: 36pt; line-height: 1.25;"><font style="font-weight: bold;">Dr. Mordechai Marmorstein</font> has served on the Board 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> has served on the Board since October 2013. Mr. Rubner is the chairman and chief executive officer of Rubner Technology
        Ventures Ltd. Previously, he was a partner in Hyperion Israel Advisors Ltd., a venture capital firm. During the years 1991 to 2000, Mr. Rubner was the president and chief executive officer of ECI Telecom Ltd. (&#8220;<u>ECI</u>&#8221;). Prior to that, Mr.
        Rubner held several senior positions within ECI. Before joining ECI, Mr. Rubner was a senior engineer in the Westinghouse Research Laboratories in Pittsburgh, Pennsylvania. Mr. Rubner served on the boards of Check Point Software Ltd., Radware Ltd.,
        Telemessage International Ltd., Koor Industries Ltd., Lipman industries Ltd. and a number of 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. (Hons) degree in engineering from Queen Mary College, University of London and an M.S. degree from Carnegie Mellon University.&#160;Mr. Rubner was awarded 14 U.S. Patents and was the recipient of the Israeli Industry Prize for 1995.</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 on the Board since 2009, including as its Chairman 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 Ltd. Mr. Meltzer served as a colonel (reserve) in the Armored Corps of the Israeli Defense
        Forces. 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 class="BRPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
        <div class="BRPFPageNumberArea" style="text-align: center;"><font class="BRPFPageNumber" style="font-weight: normal; font-style: normal;">6</font></div>
        <div class="BRPFPageBreak" style="page-break-after: always;">
          <hr noshade="noshade" style="border-width: 0px; clear: both; margin: 4px 0px; width: 100%; height: 2px; color: #000000; background-color: #000000;"></div>
      </div>
      <div style="text-align: justify; text-indent: 36pt; line-height: 1.25;"><font style="font-weight: bold;">Revital Cohen-Tzemach</font> has been employed by the Company since 2015, first as a trainee in the office of the CEO and then as an assistant to
        the CEO. Since 2019, Ms. Cohen-Tzemach also serves as a special project manager. Since 2022, Ms. Cohen-Tzemach has been attending Board meetings as a non-voting observer. From 2008 until 2014, Ms. Cohen-Tzemach served as a branch manager for
        Halperin Optics Ltd., a major Israeli optics supplier. Ms. Cohen-Tzemach holds a B.Sc. degree in Optometry and an Executive M.B.A. degree 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;">Each director (<font style="font-style: italic;">excluding</font> Mr. Nissan and Ms. Cohen-Tzemach) 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 and Ms. Cohen-Tzemach) 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>Compensation Regulations</u>&#8221;), as well as to options to purchase 10,000 Ordinary Shares, effective as
        of October 6, 2023, subject to our shareholders&#8217;&#160;approval of Item 6 below. Each director is otherwise prohibited from receiving any other compensation, directly or indirectly, in connection with his or her services 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 Compensation Committee and the Board from time to time), an indemnification agreement, an exculpation
        letter and monetary compensation, all as set forth in the Amended Management Agreement with Nistec Ltd. Ms. Cohen-Tzemach is likewise entitled to director&#8217;s insurance (as may be approved by the Compensation Committee and the Board from time to
        time), an exculpation letter (subject to our shareholders&#8217; approval of Item 9 below) and an indemnification letter (subject to our shareholders&#8217; approval of Item 10 below).</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 has no specific policy on director diversity, but it reviews a diversity of viewpoints, backgrounds,
        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. Since August 2022, the Board Diversity Rule requires a company that is a &#8220;foreign private issuer&#8221; (as defined in SEC rules) like Eltek to
        initially have, or explain why it does not have, at least one diverse director. 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 August 3, 2023.</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 August 3, 2023)</div>
      <div style="line-height: 1.25">&#160;</div>
      <table cellspacing="0" cellpadding="2" border="0" style="font-family: 'Times New Roman',Times,serif; font-size: 10pt; width: 100%; text-align: left; color: rgb(0, 0, 0);" id="z430cf0935c1c4756922e9156733d5702">

          <tr>
            <td style="width: 58.82%; vertical-align: bottom; border-top: 2px solid rgb(0, 0, 0); border-left: 2px 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 colspan="4" style="width: 41.18%; vertical-align: bottom; border-top: 2px solid rgb(0, 0, 0); border-left: 2px solid rgb(0, 0, 0); border-right: 2px solid rgb(0, 0, 0);">
              <div style="line-height: 1.25; font-family: 'Times New Roman', Times, serif;">Israel</div>
            </td>
          </tr>
          <tr>
            <td style="width: 58.82%; vertical-align: bottom; border-top: 2px solid rgb(0, 0, 0); border-left: 2px 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 colspan="4" style="width: 41.18%; vertical-align: bottom; border-top: 2px solid rgb(0, 0, 0); border-left: 2px solid rgb(0, 0, 0); border-right: 2px solid rgb(0, 0, 0);">
              <div style="line-height: 1.25; font-family: 'Times New Roman', Times, serif;">Yes</div>
            </td>
          </tr>
          <tr>
            <td style="width: 58.82%; vertical-align: bottom; border-top: 2px solid rgb(0, 0, 0); border-left: 2px 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 colspan="4" style="width: 41.18%; vertical-align: bottom; border-top: 2px solid rgb(0, 0, 0); border-left: 2px solid rgb(0, 0, 0); border-right: 2px solid rgb(0, 0, 0);">
              <div style="line-height: 1.25; font-family: 'Times New Roman', Times, serif;">No</div>
            </td>
          </tr>
          <tr>
            <td style="width: 58.82%; vertical-align: bottom; border-top: 2px solid rgb(0, 0, 0); border-left: 2px 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 colspan="4" style="width: 41.18%; vertical-align: bottom; border-top: 2px solid rgb(0, 0, 0); border-left: 2px solid rgb(0, 0, 0); border-right: 2px solid rgb(0, 0, 0);">
              <div style="line-height: 1.25; font-family: 'Times New Roman', Times, serif;">6</div>
            </td>
          </tr>
          <tr>
            <td style="width: 58.82%; vertical-align: bottom; border-top: 2px solid rgb(0, 0, 0); border-left: 2px 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: 9.27%; vertical-align: bottom; border-top: 2px solid rgb(0, 0, 0); border-left: 2px 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: 7.59%; vertical-align: bottom; border-top: 2px solid rgb(0, 0, 0); border-left: 2px 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: 9.14%; vertical-align: bottom; border-top: 2px solid rgb(0, 0, 0); border-left: 2px 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: 15.11%; vertical-align: bottom; border-top: 2px solid rgb(0, 0, 0); border-left: 2px solid rgb(0, 0, 0); border-right: 2px 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: 58.82%; vertical-align: bottom; border-top: 2px solid rgb(0, 0, 0); border-left: 2px 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: 9.27%; vertical-align: bottom; border-top: 2px solid rgb(0, 0, 0); border-left: 2px 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: 7.59%; vertical-align: bottom; border-top: 2px solid rgb(0, 0, 0); border-left: 2px 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: 9.14%; vertical-align: bottom; border-top: 2px solid rgb(0, 0, 0); border-left: 2px 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: 15.11%; vertical-align: bottom; border-top: 2px solid rgb(0, 0, 0); border-left: 2px solid rgb(0, 0, 0); border-right: 2px 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: 58.82%; vertical-align: bottom; border-top: 2px solid rgb(0, 0, 0); border-left: 2px 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 colspan="4" style="width: 41.18%; vertical-align: bottom; background-color: rgb(173, 173, 173); border-top: 2px solid rgb(0, 0, 0); border-left: 2px solid rgb(0, 0, 0); border-right: 2px solid rgb(0, 0, 0);">
              <div style="text-align: center; line-height: 1.25; font-family: 'Times New Roman', Times, serif;">&#8195;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 58.82%; vertical-align: bottom; border-top: 2px solid rgb(0, 0, 0); border-left: 2px 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 colspan="4" style="width: 41.18%; vertical-align: middle; border-top: 2px solid rgb(0, 0, 0); border-left: 2px solid rgb(0, 0, 0); border-right: 2px 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: 58.82%; vertical-align: bottom; border-top: 2px solid rgb(0, 0, 0); border-left: 2px 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 colspan="4" style="width: 41.18%; vertical-align: bottom; border-top: 2px solid rgb(0, 0, 0); border-left: 2px solid rgb(0, 0, 0); border-right: 2px 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: 58.82%; vertical-align: bottom; border-top: 2px solid rgb(0, 0, 0); border-left: 2px solid rgb(0, 0, 0); border-bottom: 2px 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 colspan="4" style="width: 41.18%; vertical-align: bottom; border-width: 2px; 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;">6</div>
            </td>
          </tr>

      </table>
      <div style="line-height: 1.25">&#160;</div>
      <div style="text-align: justify; text-indent: 36pt; line-height: 1.25; font-weight: bold;">The Board 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: 35.45pt; 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 or election of each
        of the nominees.</div>
      <div class="BRPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
        <div class="BRPFPageNumberArea" style="text-align: center;"><font class="BRPFPageNumber" style="font-weight: normal; font-style: normal;">7</font></div>
        <div class="BRPFPageBreak" style="page-break-after: always;">
          <hr noshade="noshade" style="border-width: 0px; clear: both; margin: 4px 0px; width: 100%; height: 2px; color: #000000; background-color: #000000;"></div>
      </div>
      <div style="line-height: 1.25">&#160;
        <div style="font-family: 'Times New Roman',Times,serif; font-weight: bold; text-align: center;">2. RE-ELECTION OF EXTERNAL DIRECTOR</div>
      </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;">Under the Companies Law, public companies (such as the Company) are required to have at least two (2) external directors. Every external director must either be &#8220;professionally
          qualified&#8221; or have &#8220;accounting and financial expertise&#8221; (as both such terms are defined in the Companies Regulations (Conditions and Criteria for Having Accounting and Financial Expertise or for Being Professionally Qualified), 5766-2005), and at
          least one of the external directors of a company must have &#8220;accounting and professional expertise&#8221;. All of the external directors of a company must be members of its audit and compensation committees, and any committee of a company&#8217;s board of
          directors that is authorized to exercise one or more powers of the board of directors must include at least one (1) external director.</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 person may not be appointed as an external director if: (i) such person is a relative of a Controlling shareholder; (ii) such person, his or
          her relative (as such term is defined in the Companies Law), partner, employer or an entity under that person&#8217;s control, has or had during the two (2) years preceding the date of appointment any affiliation with the Company, the Controlling
          shareholder or its relative; (iii) in a company that does not have a Controlling shareholder, such person has an affiliation (as such term is defined in the Companies Law), at the time of his or her appointment, to the company&#8217;s chairman, chief
          executive officer, chief financial officer or a shareholder holding at least five percent (5%) of the company&#8217;s share capital; and (iv) such person&#8217;s relative, partner, employer, supervisor, or an entity under that person&#8217;s control, has other
          than negligible business or professional relations with any of the persons with whom that person may not be affiliated. The term &#8220;relative&#8221; means a person&#8217;s spouse, sibling, parent, grandparent and child, as well as a child, sibling or parent of
          the person&#8217;s spouse, or the spouse of any of the foregoing. The term &#8220;affiliation&#8221; includes an employment relationship, a business or professional relationship maintained on a regular basis, control and service as an office holder (excluding
          service as an external director of a company that is offering its shares to the public for the first time).</div>
        <div style="line-height: 1.25">&#160;</div>
        <div style="text-align: justify; text-indent: 36pt; line-height: 1.25;">In addition, a person may not serve as an external director if his or her position or other activities create or may create a conflict of interest with his or her
          responsibilities as director or may otherwise interfere with his or her ability to serve as director. If, at the time an external director is appointed, all members of the board of directors who are not Controlling shareholders or their
          relatives, are of the same gender, then that external director must be of the other gender. A director of one company may not be appointed as an external director of another company if he or she is acting as an external director of the first
          company at such time. For a period of two (2) years from termination of office, the company or its Controlling shareholder may not give any direct or indirect benefit to the former external director.</div>
        <div style="line-height: 1.25">&#160;</div>
        <div style="text-align: justify; text-indent: 36pt; line-height: 1.25;">External directors are required to be elected by a company&#8217;s shareholders. An external director&#8217;s term of office is three (3) years and may generally be extended for up to two
          (2) additional three (3) year terms. However, under the Companies Regulations (Relaxations for Companies Listed in a Foreign Stock Exchange), 5760-2000 (the &#8220;<u>Relaxation Regulations</u>&#8221;), a company whose shares are traded on any of the foreign
          stock exchanges listed in Section 5A(c) of the Relaxation Regulations, such as the Company, may extend an external director&#8217;s term of office for one or more additional three (3) year terms, if: (i) the company&#8217;s audit committee and board of
          directors confirm that such extension is in the company&#8217;s best interest, given the external director&#8217;s expertise and special contribution to the work of the board of directors and its committees; (ii) the extension is approved by the special vote
          required under the Companies Law; and (iii) the external director&#8217;s overall term of office and the reasons of the audit committee and board of directors for extending it are presented to the shareholders prior to their approval of such extension.
          Subject to our shareholders&#8217;&#160;approval, Mr. Dovev&#8217;s fourth term as an external director will commence on October 6, 2023.</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 the position of an external director will have declared to the company that he or she meets the legal requirements for being
          appointed as an external director. Mr. Dovev has declared that he meets such legal requirements, and that he is &#8220;professionally qualified&#8221; and has the requisite &#8220;accounting and financial expertise&#8221; to serve as an external director. A brief
          biography of Mr. Dovev is set forth below:</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;">Gad Dovev</font> has served as an external director since October 2014 and is a member of our Audit, Compensation and Banking Committees. Mr.
          Dovev retired from the Israeli Ministry of Defense in August 2012, after heading its Mission to the United States (from August 2008 to August 2011) and its Mission to Germany (from August 2005 to August 2008), as well as serving as its Deputy
          General Manager and Head of the Rehabilitation Department (2001 to 2005) and as its Financial Comptroller and Head of the Finance Department (1993 to 2001). Mr. Dovev served as a member of the boards of directors of Bank Otsar Ha-Hayal Ltd.,
          IMI-Israel Military Industries Ltd., Shekem Ltd. and Gapim Ltd. Mr. Dovev holds a B.Sc. degree in Financial and Agricultural Administration from the Hebrew University of Jerusalem.</div>
        <div style="line-height: 1.25">&#160;</div>
        <div style="text-align: justify; text-indent: 36pt; line-height: 1.25;">As are all other directors, Mr. Dovev will be entitled to: (i) director&#8217;s insurance, provided to all directors and officers, including the external directors, as approved by
          the Compensation Committee on August 3, 2023 and as may be amended thereby from time to time, subject to the Company&#8217;s Amended and Restated Compensation Policy, as approved by our shareholders on August 31, 2022; (ii) an indemnification
          agreement, in the form approved by our shareholders on December 5, 2019; (iii) an&#160;exculpation letter, in the form approved by our shareholders on October 17, 2013; (iv) monetary compensation as provided in the &#8220;Permanent Amount&#8221; criteria of the
          Compensation Regulations; (v) options to purchase 20,000 Ordinary Shares, effective as of September 6, 2021, according to the terms approved by our shareholders on June 3, 2021; and (vii) options to purchase 10,000 Ordinary Shares, effective as
          of October 6, 2023, subject to our shareholders&#8217;&#160;approval of Item 6 below, to grant options to the Company&#8217;s directors (including the external directors, but excluding our Controlling shareholder and Chairman of the Board, Mr. Yitzhak Nissan).
          Mr. Dovev is otherwise prohibited from receiving any other compensation, directly or indirectly, in connection with his service.</div>
        <div style="line-height: 1.25">&#160;</div>
        <div style="text-align: justify; text-indent: 36pt; line-height: 1.25;">On August 3, 2023, the Audit Committee and the Board determined that Mr. Dovev meets the legal requirements for being appointed as an external director, and that he is
          &#8220;professionally qualified&#8221; and has the requisite &#8220;accounting and financial expertise&#8221; to serve as such. The Audit Committee and the Board have further confirmed that extending Mr. Dovev&#8217;s term of office for an additional, fourth three (3) year
          term, is in the best interest of the Company and its shareholders, for the following reasons: Mr. Dovev&#8217;s deep knowledge of the Company, gained over his many years of service as an external director, such that he is intimately familiar with both
          the Company&#8217;s past practices as well as its present strategy and affairs; Mr. Dovev&#8217;s extensive prior experience as a senior official of the Israeli Ministry of Defense, specifically in charge of different aspects of procurement, by virtue of
          which he offers unique guidance for Board-level decision-making with respect to one of the Company&#8217;s main type of clients &#8211; the defense sector, in Israel and abroad; and Mr. Dovev&#8217;s faithful attendance of meetings of the Audit Committee and the
          Compensation Committee and the Board since his appointment as external director.</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;">At the Meeting, the Board proposes that the following resolution be adopted:</div>
        <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: 36pt; line-height: 1.25;">&#8220;<font style="font-weight: bold;">RESOLVED</font>, that Mr. Gad Dovev be and is hereby re-elected for a fourth term as an external director, to hold office for three (3) years,
          as of October 6, 2023.&#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="line-height: 1.25;">
        <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 and voting on the matter, in person or by proxy, <font style="font-style: italic;">provided</font> that either (i) at least a majority of the shares voted by shareholders who are not Controlling shareholders and who do not have a Personal Interest in the matter, are voted in favor of the election of the external
          director; or (ii) the total number of shares of shareholders who are not Controlling shareholders and who do not have a Personal Interest in the matter, which are voted against the election of the external director, does not exceed two percent
          (2%) of the outstanding voting power in the Company. For the purposes of the vote on this Item 2, a Personal Interest does not include an interest in the proposed resolution that is not by virtue of ties to a Controlling shareholder.</div>
        <div style="line-height: 1.25">&#160;</div>
        <div class="BRPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
          <div class="BRPFPageNumberArea" style="text-align: center;"><font class="BRPFPageNumber" style="font-weight: normal; font-style: normal;">8</font></div>
          <div class="BRPFPageBreak" style="page-break-after: always;">
            <hr noshade="noshade" style="border-width: 0px; clear: both; margin: 4px 0px; width: 100%; height: 2px; color: #000000; background-color: #000000;"></div>
        </div>
      </div>
      <div style="line-height: 1.25;">
        <div style="text-align: center; text-indent: -35.45pt; margin-left: 35.45pt; line-height: 1.25;">
          <div style="font-weight: bold;">3.&#160;&#160; SECOND AMENDED AND RESTATED COMPENSATION POLICY</div>
        </div>
        <div style="text-align: center; text-indent: -35.45pt; margin-left: 35.45pt; line-height: 1.25;"> <br>
        </div>
        <div style="text-align: center; text-indent: -35.45pt; margin-left: 35.45pt; line-height: 1.25;">&#160;(Item 3 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;">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 terms of
          office and employment of the Company&#8217;s &#8220;office holders.&#8221; as defined in the Companies Law. Under 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 amended in September 2018 and in December 2019, and amended and restated in August 2022 (the &#8220;<u>Amended and Restated Compensation Policy</u>&#8221;).</div>
        <div style="line-height: 1.25">&#160;</div>
        <div style="text-align: justify; text-indent: 36pt; line-height: 1.25;">Section 5.5 of the Amended and Restated Compensation Policy (a) requires each Officer (as defined in the Amended and Restated Compensation Policy) to undertake to return any
          overpaid bonus amount (the &#8220;<u>Surplus Amount</u>&#8221;), including overpayment of any results-based bonus amount by virtue of erroneous data that is subsequently presented anew in the Company&#8217;s audited financial statement, <font style="font-style: italic;">provided</font> that the relevant error is discovered within three (3) years from the date on which such Officer receives such bonus, and (b) authorizes the Compensation Committee and the Board to determine the manner in which the
          Surplus Amount will be returned to the Company.</div>
        <div style="line-height: 1.25">&#160;</div>
        <div style="text-align: justify; text-indent: 36pt; line-height: 1.25;">Section 10D of the Securities Exchange Act of 1934 (as enacted by Section 954 of the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010, &#8220;<u>Section 10D</u>&#8221;)
          requires companies listed on a national securities exchange to implement a written policy for recovering incentive-based compensation paid to its current and former executive officers in the event that the company must prepare an accounting
          restatement due to its material noncompliance with any financial reporting requirements under securities laws (a &#8220;<u>Clawback Policy</u>&#8221;). Under Section 10D, such recovery is required with respect to any incentive-based compensation received by
          any executive officer during the three (3) years before such accounting restatement that is in excess of what would have been paid based on the restated financial information, regardless of any misconduct or an executive officer&#8217;s responsibility
          for the erroneous financial statement. Section 10D also requires the SEC to adopt rules directing the national securities exchanges to prohibit listing any company that does not comply with its requirements.</div>
        <div style="line-height: 1.25">&#160;</div>
        <div style="text-align: justify; text-indent: 36pt; line-height: 1.25;">In October 2022, the SEC adopted final rule 10D-1 (&#8220;<u>Rule 10D-1</u>&#8221;) to implement Section 10D, and in June 2023 the SEC approved Listing Rule 5608 of the Nasdaq corporate
          governance rules (the &#8220;<u>Listing Rule</u>&#8221;), which mirrors the text of Rule 10D-1 and is currently expected to come into effect on October 2, 2023 (the &#8220;<u>Effective Date</u>&#8221;). Under the Listing Rule, each listed company is required to adopt a
          compliant Clawback Policy no later than 60 days following the Effective Date, comply with such Clawback Policy for all incentive-based compensation received by executive officers on or after the Effective Date, and disclose such Clawback Policy
          and its application in the company&#8217;s SEC filing on or after the Effective Date.</div>
        <div style="line-height: 1.25">&#160;</div>
        <div style="text-align: justify; text-indent: 36pt; line-height: 1.25;">On August 3, 2023, the Board adopted a Clawback Policy which is intended to comply with Rule 10D-1 and the Listing Rule. It is therefore proposed that Section 5.5 of the
          Amended and Restated Compensation Policy will be replaced in its entirety with a new provision (Section 12.5), which will be more consistent with the Company&#8217;s recently adopted Clawback Policy, as well as with the Company&#8217;s similar obligations
          under the Companies Law. Such provision will also provide that in the event of any inconsistency between the Company&#8217;s compensation and clawback policies, the Clawback Policy shall prevail. This brief overview of the proposed amendment is
          qualified in its entirety by reference to the full text of the proposed second amended and restated Compensation Policy, attached as <font style="font-weight: bold;"><u>Exhibit A</u></font> hereto, in a form marked against the Amended and
          Restated Compensation Policy, as approved by our shareholders on August 31, 2022 (the &#8220;<u>Second </u><u>Amended and Restated Compensation Policy</u>&#8221;). On August 3, 2023, the Compensation Committee has recommended, and the Board has accordingly
          resolved, to approve the Second 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 Board 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>, that the Second Amended and Restated Compensation Policy, attached to this Proxy Statement as <font style="font-weight: bold;"><u>Exhibit A</u></font>, be and is hereby approved.&#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="line-height: 1.25;">
        <div style="text-align: justify; text-indent: 36pt; line-height: 1.25;">The approval of this Item 3 requires the affirmative vote of a majority of the Ordinary Shares present and voting on the matter, in person or by proxy, <font style="font-style: italic;">provided</font> that either (i) at least a majority of the Ordinary Shares voted by shareholders who are not Controlling shareholders and who do not have a Personal Interest in the matter, are voted in favor of the
          proposed resolution; or (ii) the total number of Ordinary Shares voted against the proposed resolution by shareholders who are not Controlling shareholders and who do not have a Personal Interest in the matter, does not exceed two percent (2%) of
          the outstanding voting power in the Company.</div>
        <div style="line-height: 1.25">&#160;</div>
        <div class="BRPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
          <div class="BRPFPageNumberArea" style="text-align: center;"><font class="BRPFPageNumber" style="font-weight: normal; font-style: normal;">9</font></div>
          <div class="BRPFPageBreak" style="page-break-after: always;">
            <hr noshade="noshade" style="border-width: 0px; clear: both; margin: 4px 0px; width: 100%; height: 2px; color: #000000; background-color: #000000;"></div>
        </div>
      </div>
      <div style="line-height: 1.25">
        <div style="font-family: 'Times New Roman',Times,serif; font-weight: bold; text-align: center;">&#160; 4.&#160; GRANT OF 2022 ANNUAL BONUS TO MS. REVITAL COHEN-TZEMACH</div>
      </div>
      <div style="text-align: center; text-indent: -35.45pt; margin-left: 35.45pt; line-height: 1.25;"> <br>
      </div>
      <div style="text-align: center; text-indent: -35.45pt; margin-left: 35.45pt; line-height: 1.25;">(Item 4 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;">Under the terms of the Companies Law, any benefits provided to Ms. Revital Cohen-Tzemach with respect to her employment with the Company must be approved by Eltek&#8217;s
          shareholders, as she is the daughter of our Chairman of the Board and Controlling shareholder, Mr. Yitzhak Nissan.</div>
        <div style="line-height: 1.25">&#160;</div>
        <div style="text-align: justify; text-indent: 36pt; line-height: 1.25;">On June 3, 2021, our shareholders approved Ms. Cohen-Tzemach&#8217;s participation in the Company&#8217;s future annual bonus plans for the years 2022 to 2024 (with the application of the
          annual bonus plan for the year 2024 being subject to the extension of Ms. Cohen-Tzemach&#8217;s employment with the Company, as our shareholders are asked to approve in Item 5 below). Notwithstanding, due to the structure and discretion of the
          Compensation Committee and the Board in respect of the actual annual bonus amount, the grant to Ms. Cohen-Tzemach of the applicable amount for the year 2022 is also subject to our shareholders&#8217; approval.</div>
        <div style="line-height: 1.25">&#160;</div>
        <div style="text-align: justify; text-indent: 36pt; line-height: 1.25;">On March 20, 2022, the Compensation Committee and the Board approved the Company&#8217;s annual bonus plan for the year 2022 (the &#8220;<u>2022</u><u> Bonus Plan</u>&#8221;), in accordance with
          the terms of the Company&#8217;s Amended Compensation Policy (as approved by the shareholders on December 5, 2019) then in effect. The aggregate bonus amount that Ms. Cohen-Tzemach was eligible to receive under the 2022 Bonus Plan was limited to four
          (4) gross monthly salaries (the &#8220;<u>2022</u><u> Individual Bonus </u><u>Ceiling</u>&#8221;) &#8211; as was the case for another, similarly situated senior employee of the Company, who is not an &#8220;Office Holder&#8221; (as such term is defined in the Companies Law)
          and to whom the 2022 Bonus Plan was also applied; and as with respect to all senior employees (including Office Holders) participating in the 2022 Bonus Plan, such aggregate amount consisted of a performance bonus, determined according to the
          Company&#8217;s meeting of graded annual targets set with respect to five (5) pre-defined measurable financial criteria of different weights (the &#8220;<u>Performance Bonus</u>&#8221;), and a personal-assessment bonus, determined by the CEO (the &#8220;<u>Personal-Assessment
            Bonus</u>,&#8221; and together with the Performance Bonus, the &#8220;<u>Annual Bonus</u>&#8221;). Furthermore, the total amount that could be granted as Annual Bonuses to all such employees under the 2022 Bonus Plan was limited to seven percent (7%) of the
          Company&#8217;s pre-tax profit in the year 2022 (the &#8220;<u>2022</u><u> Collective Bonus </u><u>Ceiling</u>&#8221;).</div>
        <div style="line-height: 1.25">&#160;</div>
        <div style="text-align: justify; text-indent: 36pt; line-height: 1.25;">On March 6 and 8, 2023, the Audit Committee and the Board respectively approved the grant of an Annual Bonus in the amount of NIS80,000 (approximately US$21,700) to Ms.
          Cohen-Tzemach under the 2022 Bonus Plan (the &#8220;<u>2022 Annual Bonus</u>&#8221;), consisting of a Performance Bonus in the amount NIS71,600 and a Personal-Assessment Bonus in an amount equal to thirty percent (30%) thereof, the sum of which was then
          reduced in accordance with the 2022 Individual Bonus Ceiling (while the total amount of the Annual Bonuses granted under the 2022 Bonus Plan was initially smaller than the 2022 Collective Bonus Ceiling). The shareholders are hereby requested to
          approve the grant of the 2022 Annual Bonus to Ms. Cohen-Tzemach.</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 Board 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>, that the grant of the 2022 Annual Bonus to Ms. Revital Cohen-Tzemach, as described in this Proxy Statement, be and is hereby
          ratified and approved.&#8221;</div>
        <div style="line-height: 1.25;"><br style="line-height: 1.25;">
        </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&#160;requires the affirmative vote of a majority of the Ordinary Shares present and voting on the matter, in person or by proxy, <font style="font-style: italic;">provided</font> that either (i) at least a majority of the Ordinary Shares voted by shareholders who are not Controlling shareholders and who do not have a Personal Interest in the matter, are voted in favor of the
          proposed resolution; or (ii) the total number of Ordinary Shares voted against the proposed resolution by shareholders who are not Controlling shareholders and who do not have a Personal Interest in the matter, does not exceed two percent (2%) of
          the outstanding voting power in the Company.</div>
        <div style="line-height: 1.25">&#160;</div>
        <div class="BRPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
          <div class="BRPFPageNumberArea" style="text-align: center;"><font class="BRPFPageNumber" style="font-weight: normal; font-style: normal;">10</font></div>
          <div class="BRPFPageBreak" style="page-break-after: always;">
            <hr noshade="noshade" style="border-width: 0px; clear: both; margin: 4px 0px; width: 100%; height: 2px; color: #000000; background-color: #000000;"></div>
        </div>
        <div style="line-height: 1.25;">
          <div style="font-family: 'Times New Roman',Times,serif; font-weight: bold; text-align: center;">&#160;5.&#160;&#160; EXTENSION OF MS. REVITAL COHEN-TZEMACH&#8217;S EMPLOYMENT</div>
        </div>
      </div>
      <div style="text-align: center; text-indent: -35.45pt; margin-left: 35.45pt; line-height: 1.25;"> <br>
      </div>
      <div style="text-align: center; text-indent: -35.45pt; margin-left: 35.45pt; line-height: 1.25;">(Item 5 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;">Under the terms of the Companies Law, Ms. Revital Cohen-Tzemach&#8217;s employment with the Company must be approved by Eltek&#8217;s shareholders, as she is the daughter of our Chairman and
        Controlling shareholder, Mr. Yitzhak Nissan.</div>
      <div style="line-height: 1.25">&#160;</div>
      <div style="text-align: justify; text-indent: 36pt; line-height: 1.25;">Ms. Cohen-Tzemach was first employed by the Company on March 1, 2015, as a<font style="font-weight: bold;">&#160;</font>trainee in the office of the CEO, and on October 27, 2015, our
        shareholders approved her employment as assistant to the CEO for a period of three (3) years, until February 28, 2018. On October 27, 2017, our shareholders approved amendments to the terms of Ms. Cohen-Tzemach&#8217;s employment with the Company, and an
        extension thereof for an additional three (3) years. Another three (3) year extension of Ms. Cohen-Tzemach&#8217;s employment with the Company, now in the position of special project manager, as well as additional amendments to the terms of her
        employment, were approved by our shareholders on December 5, 2019, and again on October 29, 2020 (as of August 1, 2020). On August 3, 2023, the Audit Committee and the Board approved the extension of Ms. Cohen-Tzemach&#8217;s employment with the Company
        for an additional three (3) year period, until July 31, 2026. Our shareholders are requested to ratify and approve said extension, without modification of the terms of Ms. Cohen-Tzemach&#8217;s employment with the Company (other than the grant of
        options, as described in Item 8 below and subject to our shareholders&#8217; approval thereof), as of August 1, 2023.</div>
      <div style="line-height: 1.25">&#160;</div>
      <div style="text-align: justify; text-indent: 36pt; line-height: 1.25;">Pursuant to the current terms of her employment with the Company, as approved by our shareholders on October 29, 2020, Ms. Cohen-Tzemach receives a gross monthly salary of
        NIS20,000, on the basis of which the Company makes standard employer contributions towards severance pay (8.33%), disability insurance (up to 2.5%), and pension (up to 6.5%), as well as towards her &#8220;professional advancement&#8221; fund (up to the lower
        of 7.5% and the maximum permissible amount for tax purposes). Ms. Cohen-Tzemach is also entitled to 23 vacation days per year and a 7-seat company car, valued up to NIS180,000, including all associated operation and maintenance expenses. In
        addition, Ms. Cohen-Tzemach is entitled to (i) options to purchase 3,140 Ordinary Shares, effective as of September 3, 2019, according to the terms approved by our shareholders on December 5, 2019; (ii) options to purchase another 10,000 Ordinary
        Shares, effective as of March 24, 2021, according to the terms approved by our shareholders on June 3, 2021; and (iii) options to purchase another 8,000 Ordinary Shares, effective as of August 3, 2023, subject to our shareholders&#8217; approval of Item
        8 below.</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;">From 2008 until 2014, Ms. Cohen-Tzemach served as a branch manager for Halperin Optics Ltd., a major Israeli optics supplier. Ms. Cohen-Tzemach holds a B.Sc. degree in
          Optometry and an Executive M.B.A. degree 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;">At the Meeting, the Board 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>, that the extension of Ms. Revital Cohen-Tzemach&#8217;s employment with the Company, as described in this Proxy Statement, be and
          is hereby ratified and approved.&#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&#160;requires the affirmative vote of a majority of the Ordinary Shares present and voting on the matter, in person or by proxy, <font style="font-style: italic;">provided</font> that either (i) at least a majority of the Ordinary Shares voted by shareholders who are not Controlling shareholders and who do not have a Personal Interest in the matter, are voted in favor of the
          proposed resolution; or (ii) the total number of Ordinary Shares voted against the proposed resolution by shareholders who are not Controlling shareholders and who do not have a Personal Interest in the matter, does not exceed two percent (2%) of
          the outstanding voting power in the Company.</div>
        <div style="line-height: 1.25">&#160;</div>
        <div class="BRPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
          <div class="BRPFPageNumberArea" style="text-align: center;"><font class="BRPFPageNumber" style="font-weight: normal; font-style: normal;">11</font></div>
          <div class="BRPFPageBreak" style="page-break-after: always;">
            <hr noshade="noshade" style="border-width: 0px; clear: both; margin: 4px 0px; width: 100%; height: 2px; color: #000000; background-color: #000000;"></div>
        </div>
        <div style="line-height: 1.25;">
          <div style="font-family: 'Times New Roman',Times,serif; font-weight: bold; text-align: center;">6.&#160; GRANT OF OPTIONS TO DIRECTORS</div>
        </div>
      </div>
      <div style="line-height: 1.25">&#160;</div>
      <div style="line-height: 1.25;">
        <div style="text-align: center; line-height: 1.25;">(Item 6 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;">Under the terms of the Companies Law, any benefits provided to the Company&#8217;s directors require our shareholders&#8217; approval. Our shareholders are therefore requested to approve
          the grant of options as described in this Item 6.</div>
        <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: 36pt; line-height: 1.25;">In 2018, the Board approved a share incentive plan, which authorizes the grant of options to purchase shares and of restricted shares units to officers, employees, directors
          and consultants of the Company and its subsidiaries (the &#8220;<u>Option Plan</u>&#8221;). Options granted under the Option Plan are generally exercisable for ten (10) years from the date on which such options are granted.</div>
        <div style="line-height: 1.25">&#160;</div>
        <div style="text-align: justify; text-indent: 36pt; line-height: 1.25;">On June 3, 2021, our shareholders approved the grant of options to purchase 20,000 Ordinary Shares to each of the Company&#8217;s directors (and 100,000 in the aggregate), including
          the external directors, but excluding our Controlling shareholder and Chairman of the Board, Mr. Yitzhak Nissan, effective as of, and exercisable at a price per share equal to the average daily closing price of the Ordinary Shares during the 30
          calendar days prior to, September 6, 2021 (US$6.47, effectively reduced to US$6.30 pursuant to Section 4 of the Option Plan, following the Company&#8217;s distribution of a cash dividend in the amount of US$0.17 per Ordinary Share on December 12, 2022
          (the &#8220;<u>Distribution</u>&#8221;)). All such options were granted under the Option Plan and Section 102(b)(2) of the Income Tax Ordinance [New Version], 5721-1961 (the &#8220;<u>Capital-Gains Tax Route</u>&#8221; and the &#8220;<u>Income Tax Ordinance</u>&#8221;,
          respectively), and in accordance with the terms of the Company&#8217;s compensation policy then in effect.</div>
        <div style="line-height: 1.25">&#160;</div>
        <div style="text-align: justify; text-indent: 36pt; line-height: 1.25;">On August 3, 2023, the Compensation Committee recommended, and the Board approved, an additional grant of options to purchase 10,000 Ordinary Shares to each of the Company&#8217;s
          directors (and 50,000 in the aggregate), including the external directors, but excluding our Controlling shareholder and Chairman of the Board, Mr. Yitzhak Nissan, and his daughter, Ms. Revital Cohen-Tzemach (assuming her election by our
          shareholders to serve on the Board under Item 1 above), effective as of October 6, 2023. All such options will (i) be granted under the Option Plan and the Capital-Gains Tax Route, (ii) vest over the following four (4) years, such that 25% of the
          options will vest on October 6, 2024, and the remaining options will vest in equal quarterly installments thereafter, and (iii) be exercisable by means of a &#8220;cashless exercise&#8221; and at a price per share equal to the average daily closing price of
          the Ordinary Shares during the 30 calendar days prior to October 6, 2023.</div>
        <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 grant of options to the Company&#8217;s directors hereunder, including the external directors, but excluding our Controlling shareholder and Chairman of the Board, Mr. Yitzhak
          Nissan, and his daughter, Ms. Revital Cohen-Tzemach, meets the terms of the Amended and Restated Compensation Policy, as approved by the shareholders on August 31, 2022, and of the Second Amended and Restated Compensation Policy, subject to our
          shareholders&#8217; approval of Item 3 above.</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 proposes that the following resolution be adopted:</div>
        <div style="line-height: 1.25">&#160;</div>
        <div style="text-align: justify; text-indent: 35.45pt; line-height: 1.25;">&#8220;<font style="font-weight: bold;">RESOLVED</font>, that the grant of options to the Company&#8217;s directors (including the external directors, but excluding the Controlling
          shareholder and Chairman of the Board, Mr. Yitzhak Nissan, and his daughter, Ms. Revital Cohen-Tzemach), as described in the Proxy Statement, be and is hereby approved.&#8221;</div>
        <div style="line-height: 1.25">&#160;</div>
      </div>
      <div style="line-height: 1.25;">
        <div style="text-align: justify; text-indent: 35.3pt; line-height: 1.25; font-weight: bold;">Vote Required</div>
        <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: 36pt; line-height: 1.25;">The approval of this Item 6&#160;requires the affirmative vote of the holders of a majority of the voting power represented at the Meeting, in person or by proxy.</div>
        <div style="line-height: 1.25">&#160;</div>
        <div class="BRPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
          <div class="BRPFPageNumberArea" style="text-align: center;"><font class="BRPFPageNumber" style="font-weight: normal; font-style: normal;">12</font></div>
          <div class="BRPFPageBreak" style="page-break-after: always;">
            <hr noshade="noshade" style="border-width: 0px; clear: both; margin: 4px 0px; width: 100%; height: 2px; color: #000000; background-color: #000000;"></div>
        </div>
      </div>
      <div style="line-height: 1.25">&#160;
        <div style="font-family: 'Times New Roman',Times,serif; font-weight: bold; text-align: center;">7.<font class="HorizontalTab" style="width: 9pt; font-size: 1px; display: inline-block;"> </font>GRANT OF OPTIONS TO CHIEF EXECUTIVE OFFICER</div>
      </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 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;">Under the terms of the Companies Law, any benefit (other than non-material benefits) provided to the CEO with respect to his employment with the Company, must be approved by
          Eltek&#8217;s shareholders. Our shareholders are therefore requested to approve the grant of options as described in this Item 7.</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;">On September 6, 2018, our shareholders approved the grant of options to purchase 60,857 Ordinary Shares to the CEO, effective as of, and exercisable at a price per share equal
          to the average daily closing price of the Ordinary Shares during the 30 calendar days prior to, July 1, 2018 (US$4.17, effectively reduced to US$4.00 pursuant to Section 4 of the Options Plan, following the Distribution). Following the rights&#8217;
          offerings issued by the Company in March 2019 and December 2020, and in accordance with Section 4 of the Option Plan, these options are effectively exercisable into 78,580 Ordinary Shares. On June 3, 2021, our shareholders approved an additional
          grant of options to purchase 100,000 Ordinary Shares to the CEO, effective as of, and exercisable at a price per share equal to the average daily closing price of the Ordinary Shares during the 30 calendar days prior to, December 29, 2020
          (US$4.75, effectively reduced to US$4.58 pursuant to Section 4 of the Option Plan, following the Distribution). All of the foregoing options were granted under the Option Plan and the Capital-Gains Tax Route, and in accordance with the terms of
          the Company&#8217;s compensation policy then in effect.</div>
        <div style="line-height: 1.25">&#160;</div>
        <div style="text-align: justify; text-indent: 36pt; line-height: 1.25;">On August 3, 2023, the Compensation Committee recommended, and the Board approved, an additional grant of options to purchase 25,000 Ordinary Shares to the CEO, effective as of
          August 3, 2023. All such options will (i) be granted under the Option Plan and the Capital-Gains Tax Route, (ii) vest over the following four (4) years, such that 25% of the options will vest on August 3, 2024, and the remaining options will vest
          in equal quarterly installments thereafter, and (iii) be exercisable by means of a &#8220;cashless exercise&#8221; and at a price per share equal to the average daily closing price of the Ordinary Shares during the 30 calendar days prior to August 3, 2023.</div>
        <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 grant of options to the CEO hereunder meets the terms of the Amended and Restated Compensation Policy, as approved by our shareholders on August 31, 2022, and of the
          Second Amended and Restated Compensation Policy, subject to our shareholders&#8217; approval of Item 3 above.</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 proposes that the following resolution be adopted:</div>
        <div style="line-height: 1.25">&#160;</div>
        <div style="text-align: justify; text-indent: 35.45pt; line-height: 1.25;">&#8220;<font style="font-weight: bold;">RESOLVED</font>, that the grant of options to Mr. Eli Yaffe, as described in the Proxy Statement, be and is hereby approved.&#8221;</div>
        <div style="line-height: 1.25">&#160;</div>
      </div>
      <div style="line-height: 1.25;">
        <div style="text-align: justify; text-indent: 35.3pt; line-height: 1.25; font-weight: bold;">Vote Required</div>
        <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: 36pt; line-height: 1.25;">The approval of this Item 7 requires the affirmative vote of a majority of the Ordinary Shares present and voting on the matter, in person or by proxy, <font style="font-style: italic;">provided</font> that either (i) at least a majority of the Ordinary Shares voted by shareholders who are not Controlling shareholders and who do not have a Personal Interest in the matter, are voted in favor of the
          proposed resolution; or (ii) the total number of Ordinary Shares voted against the proposed resolution by shareholders who are not Controlling shareholders and who do not have a Personal Interest in the matter, does not exceed two percent (2%) of
          the outstanding voting power in the Company.</div>
        <div style="line-height: 1.25">&#160;</div>
        <div class="BRPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
          <div class="BRPFPageNumberArea" style="text-align: center;"><font class="BRPFPageNumber" style="font-weight: normal; font-style: normal;">13</font></div>
          <div class="BRPFPageBreak" style="page-break-after: always;">
            <hr noshade="noshade" style="border-width: 0px; clear: both; margin: 4px 0px; width: 100%; height: 2px; color: #000000; background-color: #000000;"></div>
        </div>
      </div>
      <div style="line-height: 1.25">
        <div style="font-family: 'Times New Roman',Times,serif; font-weight: bold; text-align: center;">8.&#160;&#160; GRANT OF OPTIONS TO MS. REVITAL COHEN-TZEMACH</div>
        <div style="font-family: 'Times New Roman',Times,serif; font-weight: bold; text-align: center;"> <br>
        </div>
      </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="line-height: 1.25;">
        <div style="text-align: justify; text-indent: 36pt; line-height: 1.25;">As explained in Item 4 above, any benefits provided to Ms. Revital Cohen-Tzemach with respect to her employment with the Company must be approved by Eltek&#8217;s shareholders, as
          she is the daughter of our Chairman and Controlling shareholder, Mr. Yitzhak Nissan. Our shareholders are therefore requested to approve the grant of options as described in this Item 8.</div>
        <div style="line-height: 1.25">&#160;</div>
        <div style="text-align: justify; text-indent: 36pt; line-height: 1.25;">On December 5, 2019, our shareholders approved the grant of options to purchase 3,000 Ordinary Shares to Ms. Cohen-Tzemach, effective as of, and exercisable at a price per
          share equal to the average daily closing price of the Ordinary Shares during the 30 calendar days prior to, September 3, 2019 (US$6.38, effectively reduced to US$6.21 pursuant to Section 4 of the Option Plan, following the Distribution).
          Following the rights&#8217; offering issued by the Company in December 2020, and in accordance with Section 4 of the Option Plan, these options may be effectively exercised into 3,140 Ordinary Shares. On June 3, 2021, our shareholders approved the
          additional grant of options to purchase 10,000 Ordinary Shares to Ms. Cohen-Tzemach, effective as of, and exercisable at a price per share equal to the average daily closing price of the Ordinary Shares during the 30 calendar days prior to, March
          24, 2021 (US$5.52, effectively reduced to US$5.38 pursuant to Section 4 of the Option Plan, following the Distribution). All of the foregoing options were granted under the Option Plan and Section 3(i) of the Income Tax Ordinance, and in
          accordance with the terms of the Company&#8217;s compensation policy then in effect.</div>
        <div style="line-height: 1.25">&#160;</div>
        <div style="text-align: justify; text-indent: 36pt; line-height: 1.25;">On August 3, 2023, the Audit Committee recommended, and the Board approved, an additional grant of options to purchase 8,000 Ordinary Shares to Ms. Cohen-Tzemach, effective as
          of August 3, 2023. All such options will (i) be granted under the Option Plan and Section 3(i) of the Income Tax Ordinance, (ii) vest over the following four (4) years, such that 25% of the options will vest on August 3, 2024, and the remaining
          options will vest in equal quarterly installments thereafter, and (iii) be exercisable by means of a &#8220;cashless exercise&#8221; and at a price per share equal to the average daily closing price of the Ordinary Shares during the 30 calendar days prior to
          August 3, 2023.</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 Board 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>, that the grant of options to Ms. Revital Cohen-Tzemach, as described in the Proxy Statement, be and is hereby approved.&#8221;</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 approval of this Item&#160;8&#160;requires the affirmative vote of a majority of the Ordinary Shares present and voting on the matter, in person or by proxy, <font style="font-style: italic;">provided</font> that either (i) at least a majority of the Ordinary Shares voted by shareholders who are not Controlling shareholders and who do not have a Personal Interest in the matter, are voted in favor of the
          proposed resolution; or (ii) the total number of Ordinary Shares voted against the proposed resolution by shareholders who are not Controlling shareholders and who do not have a Personal Interest in the matter, does not exceed two percent (2%) of
          the outstanding voting power in the Company.</div>
        <div style="line-height: 1.25">&#160;</div>
        <div class="BRPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
          <div class="BRPFPageNumberArea" style="text-align: center;"><font class="BRPFPageNumber" style="font-weight: normal; font-style: normal;">14</font></div>
          <div class="BRPFPageBreak" style="page-break-after: always;">
            <hr noshade="noshade" style="border-width: 0px; clear: both; margin: 4px 0px; width: 100%; height: 2px; color: #000000; background-color: #000000;"></div>
        </div>
        <div style="line-height: 1.25;">
          <div style="font-family: 'Times New Roman',Times,serif; font-weight: bold; text-align: center;">9.&#160;&#160;&#160; GRANT OF EXCULPATION LETTER TO MS. REVITAL COHEN-TZEMACH</div>
        </div>
      </div>
      <div style="line-height: 1.25">&#160;</div>
      <div style="text-align: center; line-height: 1.25;">(Item 9 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;">Subject to her election by our shareholders to serve on the Board under Item 1 above, Ms. Cohen-Tzemach may also be granted an Exculpation Letter. However, as explained in Item
          4 above with respect to benefits provided to Ms. Cohen-Tzemach as part of her employment with the Company, any benefit provided to her as a director must also be approved by Eltek&#8217;s shareholders, as she is the daughter of our Chairman and
          Controlling shareholder, Mr. Yitzhak Nissan. In accordance with the provisions of the Companies Law, an Exculpation Letter to Ms. Cohen-Tzemach, as daughter of our Controlling shareholder, may be in force and effect for a maximum period of three
          (3) years. Therefore, our shareholders are hereby requested to approve the grant of an Exculpation Letter to Ms. Cohen-Tzemach for a three (3) year period, ending on September 11, 2026.</div>
        <div style="line-height: 1.25">&#160;</div>
        <div style="text-align: justify; text-indent: 36pt; line-height: 1.25;">On August 3, 2023, the Compensation Committee and the Board approved the grant of an Exculpation Letter to Ms. Cohen-Tzemach, subject to her election to serve on the Board.</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 Board 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>, that the grant of an exculpation letter to Ms. Revital Cohen-Tzemach, as described in the Proxy Statement, be and is hereby
          approved.&#8221;</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 approval of this Item&#160;9&#160;requires the affirmative vote of a majority of the Ordinary Shares present and voting on the matter, in person or by proxy, <font style="font-style: italic;">provided</font> that either (i) at least a majority of the Ordinary Shares voted by shareholders who are not Controlling shareholders and who do not have a Personal Interest in the matter, are voted in favor of the
          proposed resolution; or (ii) the total number of Ordinary Shares voted against the proposed resolution by shareholders who are not Controlling shareholders and who do not have a Personal Interest in the matter, 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;"><br style="line-height: 1.25;">
        </div>
        <div class="BRPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
          <div class="BRPFPageNumberArea" style="text-align: center;"><font class="BRPFPageNumber" style="font-weight: normal; font-style: normal;">15</font></div>
          <div class="BRPFPageBreak" style="page-break-after: always;">
            <hr noshade="noshade" style="border-width: 0px; clear: both; margin: 4px 0px; width: 100%; height: 2px; color: #000000; background-color: #000000;"></div>
        </div>
      </div>
      <div style="line-height: 1.25">&#160;</div>
      <div style="text-align: center; line-height: 1.25;">
        <div style="font-weight: bold;">10.&#160;&#160;&#160; GRANT OF INDEMNIFICATION LETTER TO MS. REVITAL COHEN-TZEMACH</div>
        (Item 10 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 Articles authorize us, subject to the receipt of requisite corporate approvals, to agree in advance to indemnify the Company&#8217;s directors and officers,
          subject to certain conditions and limitations. In December 2019, our shareholders approved an amended indemnity agreement (the &#8220;<u>Indemnification Letter</u>&#8221;) granted to the Company&#8217;s directors and officers serving from time to time in such
          capacity, such that the Indemnification Letter shall comply with the requirements of the Companies Law.</div>
        <div style="line-height: 1.25">&#160;</div>
        <div style="text-align: justify; text-indent: 36pt; line-height: 1.25;">Subject to her election by our shareholders to serve on the Board under Item 1 above, Ms. Cohen-Tzemach may also be granted an Indemnification Letter. However, as explained
          above, any benefit provided to Ms. Cohen-Tzemach as a director must also be approved by Eltek&#8217;s shareholders, as she is the daughter of our Chairman and Controlling shareholder, Mr. Yitzhak Nissan. In accordance with the provisions of the
          Companies Law, an Indemnification Letter to Ms. Cohen-Tzemach, as daughter of our Controlling shareholder, may be in force and effect for a maximum period of three (3) years. Therefore, our shareholders are hereby requested to approve the grant
          of an Indemnification Letter to Ms. Cohen-Tzemach for a three (3) year period, ending on September 11, 2026.</div>
        <div style="line-height: 1.25">&#160;</div>
        <div style="text-align: justify; text-indent: 36pt; line-height: 1.25;">On August 3, 2023, the Compensation Committee and the Board approved the grant of an Indemnification Letter to Ms. Cohen-Tzemach, subject to her election to serve on the Board.</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 Board 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>, that the grant of an indemnification letter to Ms. Revital Cohen-Tzemach, as described in the Proxy Statement, be and is
          hereby approved.&#8221;</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 approval of this Item&#160;10&#160;requires the affirmative vote of a majority of the Ordinary Shares present and voting on the matter, in person or by proxy, <font style="font-style: italic;">provided</font> that either (i) at least a majority of the Ordinary Shares voted by shareholders who are not Controlling shareholders and who do not have a Personal Interest in the matter, are voted in favor of the
          proposed resolution; or (ii) the total number of Ordinary Shares voted against the proposed resolution by shareholders who are not Controlling shareholders and who do not have a Personal Interest in the matter, does not exceed two percent (2%) of
          the outstanding voting power in the Company.</div>
        <div style="line-height: 1.25">&#160;</div>
        <div class="BRPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
          <div class="BRPFPageNumberArea" style="text-align: center;"><font class="BRPFPageNumber" style="font-weight: normal; font-style: normal;">16</font></div>
          <div class="BRPFPageBreak" style="page-break-after: always;">
            <hr noshade="noshade" style="border-width: 0px; clear: both; margin: 4px 0px; width: 100%; height: 2px; color: #000000; background-color: #000000;"></div>
        </div>
        <div style="line-height: 1.25; text-align: center; font-weight: bold;">11.&#160; DETERMINATION REGARDING VESTING AND EXERCISABILITY OF OPTIONS GRANTED</div>
        <div style="line-height: 1.25; text-align: center; font-weight: bold;"> TO MS. REVITAL COHEN-TZEMACH</div>
        <div style="line-height: 1.25">&#160;</div>
      </div>
      <div style="text-align: center; text-indent: -35.45pt; margin-left: 35.45pt; line-height: 1.25;">(Item 11 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;">As described in Item 8 above, Ms. Revital Cohen-Tzemach, special projects manager and daughter of our Controlling shareholder, Mr. Yitzhak Nissan, has so far been granted a total
        of 21,140 options to purchase Ordinary Shares (including those granted subject to our shareholders&#8217; approval of Item 8 above), of which 8,568 options have vested and become exercisable as of August 3, 2023. Pursuant to Section 10.1 of the Option
        Plan, if Ms. Cohen-Tzemach ceases to be an employee of the Company for any reason other than death, Retirement, Disability or Cause (as all such terms are defined in the Option Plan), then any vested but unexercised options as of such time could be
        exercised, if not previously expired, no later than 90 days thereafter, and all other options would expire immediately thereupon. Such would be the case even if Ms. Cohen-Tzemach is still serving on the Board (assuming her election by the
        shareholders under Item 1 above) at such time that she ceases to be an employee of the Company &#8211; all, unless otherwise determined by the Board pursuant to Section 10.4 of the Option Plan.</div>
      <div style="line-height: 1.25">&#160;</div>
      <div style="text-align: justify; text-indent: 36pt; line-height: 1.25;">On August 3, 2023, the Audit Committee recommended, and the Board approved, that the following determination be made with respect to any and all options granted to Ms.
        Cohen-Tzemach&#8217;s on or before August 3, 2023 (including, for the avoidance of doubt, such options that the granting of which remains subject to our shareholders&#8217; approval) (the &#8220;<font style="font-weight: bold;">Existing Options</font>&#8221;): so long as
        Ms. Cohen-Tzemach is continuously engaged by the Company as a member of the Board, and notwithstanding whether or not she is also employed by the Company, (a) any and all unvested Existing Options shall continue to vest according to their
        respective vesting schedules, as set forth in the applicable award letters; and (b) any and all vested Existing Options that have not been previously exercised or expired, shall remain exercisable until such time that Ms. Cohen-Tzemach ceases to
        serve on the Board, and for a period of 90 days thereafter (or any other period as may be determined by the Board in accordance with the Option Plan and subject to our shareholders&#8217; approval).</div>
      <div style="line-height: 1.25">&#160;</div>
      <div style="text-align: justify; text-indent: 36pt; line-height: 1.25;">The foregoing determination, if made, would benefit Mr. Cohen-Tzemach, daughter of our Controlling shareholder, Mr. Yitzhak Nissan, in connection with her employment with the
        Company. Hence, under the Companies Law, making such determination requires the approval of Eltek&#8217;s shareholders. Our shareholders are therefore requested to approve making the determination described in this Item 11.</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;">At the Meeting, the Board 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>, that the making of a determination regarding the vesting and exercisability of options granted to Ms. Revital Cohen-Tzemach,
          as described in the Proxy Statement, be and is hereby approved.&#8221;</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 approval of this Item&#160;11&#160;requires the affirmative vote of a majority of the Ordinary Shares present and voting on the matter, in person or by proxy, <font style="font-style: italic;">provided</font> that either (i) at least a majority of the Ordinary Shares voted by shareholders who are not Controlling shareholders and who do not have a Personal Interest in the matter, are voted in favor of the
          proposed resolution; or (ii) the total number of Ordinary Shares voted against the proposed resolution by shareholders who are not Controlling shareholders and who do not have a Personal Interest in the matter, does not exceed two percent (2%) of
          the outstanding voting power in the Company.</div>
        <div style="line-height: 1.25">&#160;</div>
        <div class="BRPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
          <div class="BRPFPageNumberArea" style="text-align: center;"><font class="BRPFPageNumber" style="font-weight: normal; font-style: normal;">17</font></div>
          <div class="BRPFPageBreak" style="page-break-after: always;">
            <hr noshade="noshade" style="border-width: 0px; clear: both; margin: 4px 0px; width: 100%; height: 2px; color: #000000; background-color: #000000;"></div>
        </div>
        <div style="line-height: 1.25">
          <div style="font-family: 'Times New Roman',Times,serif; font-weight: bold; text-align: center;">12.&#160; APPOINTMENT OF INDEPENDENT AUDITORS</div>
        </div>
      </div>
      <br>
      <div style="text-align: center; text-indent: -35.45pt; margin-left: 35.45pt; line-height: 1.25;">(Item 12 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 Board 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, 2023, and for such additional period, until the next annual general meeting of the shareholders.</div>
      <div style="line-height: 1.25">&#160;</div>
      <div style="text-align: justify; text-indent: 35.45pt; line-height: 1.25;">The 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, has served as our principal independent registered public accounting firm since December 2020.</div>
      <div style="line-height: 1.25">&#160;</div>
      <table cellspacing="0" cellpadding="0" class="cfttable" id="z59272ed050084c509c7d13390eceb46b" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; text-align: left; color: #000000; width: 100%;">

          <tr>
            <td valign="bottom" style="vertical-align: top; padding-bottom: 2px;">&#160;</td>
            <td valign="bottom" class="cftguttercell" colspan="1" style="vertical-align: bottom; padding-bottom: 2px;">&#160;</td>
            <td valign="bottom" colspan="6" style="vertical-align: top; border-bottom: #000000 solid 2px;">
              <div style="text-align: center; line-height: 1.25; font-weight: bold;">Year Ended December 31, 2022</div>
            </td>
            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="vertical-align: bottom; padding-bottom: 2px;">&#160;</td>
            <td valign="bottom" class="cftguttercell" colspan="1" style="vertical-align: bottom; padding-bottom: 2px;">&#160;</td>
            <td valign="bottom" colspan="6" style="vertical-align: top; border-bottom: #000000 solid 2px;">
              <div style="text-align: center; line-height: 1.25; font-weight: bold;">Year Ended December 31, 2021</div>
            </td>
            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="vertical-align: bottom; padding-bottom: 2px;">&#160;</td>
          </tr>
          <tr>
            <td valign="bottom" style="vertical-align: top;">&#160;</td>
            <td valign="bottom" class="cftguttercell" colspan="1" style="vertical-align: bottom;">&#160;</td>
            <td valign="bottom" colspan="2" style="vertical-align: top;">
              <div style="text-align: center; line-height: 1.25; font-weight: bold;">Amount</div>
            </td>
            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="vertical-align: bottom;">&#160;</td>
            <td valign="bottom" class="cftguttercell" colspan="1" style="vertical-align: bottom;">&#160;</td>
            <td valign="bottom" colspan="2" style="vertical-align: top;">
              <div style="text-align: center; line-height: 1.25; font-weight: bold;">Percentage</div>
            </td>
            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="vertical-align: bottom;">&#160;</td>
            <td valign="bottom" class="cftguttercell" colspan="1" style="vertical-align: bottom;">&#160;</td>
            <td valign="bottom" colspan="2" style="vertical-align: top;">
              <div style="text-align: center; line-height: 1.25; font-weight: bold;">Amount</div>
            </td>
            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="vertical-align: bottom;">&#160;</td>
            <td valign="bottom" class="cftguttercell" colspan="1" style="vertical-align: bottom;">&#160;</td>
            <td valign="bottom" colspan="2" style="vertical-align: top;">
              <div style="text-align: center; line-height: 1.25; font-weight: bold;">Percentage</div>
            </td>
            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="vertical-align: bottom;">&#160;</td>
          </tr>
          <tr>
            <td valign="bottom" style="vertical-align: bottom; width: 52%; background-color: rgb(204, 238, 255);">
              <div style="text-align: justify; line-height: 1.25;">Audit Fees <sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">(1)</sup></div>
            </td>
            <td valign="bottom" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" class="cftcurrcell" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">
              <div style="line-height: 1.25;">$</div>
            </td>
            <td valign="bottom" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);">
              <div style="line-height: 1.25;">98,000</div>
            </td>
            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" class="cftcurrcell" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);">
              <div style="line-height: 1.25;">94</div>
            </td>
            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">
              <div style="line-height: 1.25;">%</div>
            </td>
            <td valign="bottom" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" class="cftcurrcell" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">
              <div style="line-height: 1.25;">$</div>
            </td>
            <td valign="bottom" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);">
              <div style="line-height: 1.25;">75,800</div>
            </td>
            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" class="cftcurrcell" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);">
              <div style="line-height: 1.25;">74</div>
            </td>
            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">
              <div style="line-height: 1.25;">%</div>
            </td>
          </tr>
          <tr>
            <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>
            </td>
            <td valign="bottom" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
            <td valign="bottom" class="cftcurrcell" colspan="1" style="vertical-align: bottom; width: 1%;">
              <div style="line-height: 1.25;">$</div>
            </td>
            <td valign="bottom" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;">
              <div style="line-height: 1.25;">0</div>
            </td>
            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
            <td valign="bottom" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
            <td valign="bottom" class="cftcurrcell" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
            <td valign="bottom" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;">
              <div style="line-height: 1.25;">0</div>
            </td>
            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="vertical-align: bottom; width: 1%;">
              <div style="line-height: 1.25;">%</div>
            </td>
            <td valign="bottom" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
            <td valign="bottom" class="cftcurrcell" colspan="1" style="vertical-align: bottom; width: 1%;">
              <div style="line-height: 1.25;">$</div>
            </td>
            <td valign="bottom" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;">
              <div style="line-height: 1.25;">21,700</div>
            </td>
            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
            <td valign="bottom" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
            <td valign="bottom" class="cftcurrcell" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
            <td valign="bottom" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;">
              <div style="line-height: 1.25;">21</div>
            </td>
            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="vertical-align: bottom; width: 1%;">
              <div style="line-height: 1.25;">%</div>
            </td>
          </tr>
          <tr>
            <td valign="bottom" style="vertical-align: bottom; width: 52%; padding-bottom: 2px; background-color: rgb(204, 238, 255);">
              <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>
            </td>
            <td valign="bottom" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" class="cftcurrcell" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div style="line-height: 1.25;">$</div>
            </td>
            <td valign="bottom" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div style="line-height: 1.25;">6,000</div>
            </td>
            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" class="cftcurrcell" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div style="line-height: 1.25;">6</div>
            </td>
            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: rgb(204, 238, 255);">
              <div style="line-height: 1.25;">%</div>
            </td>
            <td valign="bottom" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" class="cftcurrcell" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div style="line-height: 1.25;">$</div>
            </td>
            <td valign="bottom" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div style="line-height: 1.25;">5,500</div>
            </td>
            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" class="cftcurrcell" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div style="line-height: 1.25;">5</div>
            </td>
            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: rgb(204, 238, 255);">
              <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>
            </td>
            <td valign="bottom" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 4px;">&#160;</td>
            <td valign="bottom" class="cftcurrcell" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 4px double rgb(0, 0, 0);">
              <div style="line-height: 1.25;">$</div>
            </td>
            <td valign="bottom" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 4px double rgb(0, 0, 0);">
              <div style="line-height: 1.25;">104,000</div>
            </td>
            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 4px;">&#160;</td>
            <td valign="bottom" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 4px;">&#160;</td>
            <td valign="bottom" class="cftcurrcell" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 4px double rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 4px double rgb(0, 0, 0);">
              <div style="line-height: 1.25;">100</div>
            </td>
            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 4px;">
              <div style="line-height: 1.25;">%</div>
            </td>
            <td valign="bottom" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 4px;">&#160;</td>
            <td valign="bottom" class="cftcurrcell" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 4px double rgb(0, 0, 0);">
              <div style="line-height: 1.25;">$</div>
            </td>
            <td valign="bottom" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 4px double rgb(0, 0, 0);">
              <div style="line-height: 1.25;">103,000</div>
            </td>
            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 4px;">&#160;</td>
            <td valign="bottom" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 4px;">&#160;</td>
            <td valign="bottom" class="cftcurrcell" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 4px double rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 4px double rgb(0, 0, 0);">
              <div style="line-height: 1.25;">100</div>
            </td>
            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 4px;">
              <div style="line-height: 1.25;">%</div>
            </td>
          </tr>

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

          <tr>
            <td style="width: 3.13%; vertical-align: top;">
              <div style="line-height: 1.25;"><sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">(1)</sup></div>
            </td>
            <td style="width: 96.87%; vertical-align: top;">
              <div style="text-align: justify; line-height: 1.25;">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>
          <tr>
            <td style="width: 3.13%; vertical-align: top;">
              <div style="line-height: 1.25;"><sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">(2)</sup></div>
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              <div style="text-align: justify; line-height: 1.25;">All of such fees were pre-approved by our Audit Committee.</div>
            </td>
          </tr>

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      <div style="text-align: justify; text-indent: 36pt; line-height: 1.25; font-weight: bold;"> <br>
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      <div style="text-align: justify; text-indent: 36pt; line-height: 1.25; font-weight: bold;">Audit Committee&#8217;s pre-approval policies and procedures:</div>
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      <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
        Audit Committee to consider whether proposed services are compatible with the independence of the registered public accountants.</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 Board 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, 2023, 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>
        <div style="line-height: 1.25">&#160;</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 12 requires the affirmative vote of the holders of a majority of the voting power represented at the Meeting, in person or by proxy.</div>
      <div style="line-height: 1.25">&#160;</div>
      <div class="BRPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
        <div class="BRPFPageNumberArea" style="text-align: center;"><font class="BRPFPageNumber" style="font-weight: normal; font-style: normal;">18</font></div>
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      </div>
      <div style="line-height: 1.25;">
        <div style="font-family: 'Times New Roman',Times,serif; font-weight: bold; text-align: center;">13.&#160;&#160; REVIEW OF AUDITOR&#8217;S REPORT AND FINANCIAL STATEMENTS</div>
      </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, 2022 will be presented for review. On March
        23, 2023, 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 13 does not involve a vote of our shareholders.</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 Board 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>
      <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: 50.00%;">
                <div>&#160;</div>
              </td>
              <td style="width: 50%; text-align: center;">
                <div style="line-height: 1.25; font-family: 'Times New Roman',Times,serif;">By Order of the Board of Directors,</div>
                <div style="line-height: 1.25;">&#160; <br>
                </div>
                <div style="line-height: 1.25;"><font style="font-family: 'Times New Roman',Times,serif;">Yitzhak Nissan</font></div>
                <div style="line-height: 1.25;">&#160;</div>
                <div style="line-height: 1.25;"><font style="font-family: 'Times New Roman',Times,serif;">Chairman of the Board of Directors</font></div>
              </td>
            </tr>

        </table>
      </div>
      <br>
      <div style="text-align: justify; line-height: 1.25;">August 3, 2023</div>
      <div style="line-height: 1.25">&#160;</div>
      <div class="BRPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
        <div class="BRPFPageNumberArea" style="text-align: center;"><font class="BRPFPageNumber" style="font-weight: normal; font-style: normal;">19</font></div>
        <div class="BRPFPageBreak" style="page-break-after: always;">
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      </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;">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;">
        <div class="BRPFPageHeader">
          <div style="line-height: 1.25;">
            <div style="line-height: 1.25;"><br style="line-height: 1.25;">
            </div>
            <div class="BRPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
              <div class="BRPFPageBreak" style="page-break-after: always;">
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            </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 (the &#8220;<font style="font-weight: bold;">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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            <tr>
              <td style="width: 18pt; vertical-align: top; font-weight: bold;">1.</td>
              <td style="width: auto; vertical-align: top; text-align: justify;">
                <div style="font-weight: bold;"><u>General background</u></div>
              </td>
            </tr>

        </table>
        <div style="line-height: 1.25">&#160;</div>
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              <td style="width: 17.85pt;"><br>
              </td>
              <td style="width: 28.35pt; vertical-align: top;">1.1.</td>
              <td style="width: auto; vertical-align: top; text-align: justify;">
                <div>The following document presents Eltek Ltd.&#8217;s (the<font style="font-weight: bold;">&#160;</font>&#8220;<font style="font-weight: bold;">Company</font>&#8221;) Compensation Policy regarding the Company&#8217;s Officers (the &#8220;<font style="font-weight: bold;">Compensation
                    Policy</font>&#8221;) as determined by the Compensation Committee and the Company&#8217;s Board of Directors (the &#8220;<font style="font-weight: bold;">BOD</font>&#8221;).</div>
              </td>
            </tr>

        </table>
        <div style="line-height: 1.25">&#160;</div>
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            <tr>
              <td style="width: 17.85pt;"><br>
              </td>
              <td style="width: 28.35pt; vertical-align: top;">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>

        </table>
        <div style="line-height: 1.25">&#160;</div>
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              <td style="width: 17.85pt;"><br>
              </td>
              <td style="width: 28.35pt; vertical-align: top;">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>
            </tr>

        </table>
        <div style="line-height: 1.25">&#160;</div>
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            <tr>
              <td style="width: 17.85pt;"><br>
              </td>
              <td style="width: 28.35pt; vertical-align: top;">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>
              </td>
            </tr>

        </table>
        <div style="line-height: 1.25">&#160;</div>
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              <td style="width: 46.2pt;"><br>
              </td>
              <td style="width: 17.85pt; vertical-align: top;">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>
            </tr>

        </table>
        <div style="line-height: 1.25">&#160;</div>
        <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="z8914ee96062b489f8c2c0b22c7679bb6">

            <tr>
              <td style="width: 46.2pt;"><br>
              </td>
              <td style="width: 17.85pt; vertical-align: top;">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>
            </tr>

        </table>
        <div style="line-height: 1.25">&#160;</div>
        <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="z76732560ae1e460982e8fe39cd0982cc">

            <tr>
              <td style="width: 46.2pt;"><br>
              </td>
              <td style="width: 17.85pt; vertical-align: top;">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>
            </tr>

        </table>
        <div style="line-height: 1.25">&#160;</div>
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            <tr>
              <td style="width: 46.2pt;"><br>
              </td>
              <td style="width: 17.85pt; vertical-align: top;">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>
              </td>
            </tr>

        </table>
        <div style="line-height: 1.25">&#160;</div>
        <div class="BRPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
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              </td>
              <td style="width: 28.35pt; vertical-align: top;">1.5.</td>
              <td style="width: auto; vertical-align: top; text-align: justify;">
                <div><u>Objectives of the Compensation Policy</u></div>
              </td>
            </tr>

        </table>
        <div style="line-height: 1.25">&#160;</div>
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              <td style="width: 17.85pt; vertical-align: top;">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>
            </tr>

        </table>
        <div style="line-height: 1.25">&#160;</div>
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              <td style="width: 17.85pt; vertical-align: top;">b.</td>
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                <div>Maximizing the Company&#8217;s performance without the Company&#8217;s Officers taking unreasonable risks.</div>
              </td>
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        </table>
        <div style="line-height: 1.25">&#160;</div>
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              </td>
              <td style="width: 17.85pt; vertical-align: top;">c.</td>
              <td style="width: auto; vertical-align: top; text-align: justify;">
                <div>Supporting the implementation of the Company&#8217;s business strategy.</div>
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        </table>
        <div style="line-height: 1.25">&#160;</div>
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              </td>
              <td style="width: 17.85pt; vertical-align: top;">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>
              </td>
            </tr>

        </table>
        <div style="line-height: 1.25">&#160;</div>
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              <td style="width: 17.85pt; vertical-align: top;">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>
            </tr>

        </table>
        <div style="line-height: 1.25">&#160;</div>
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              <td style="width: 17.85pt; vertical-align: top;">f.</td>
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                <div>Creating a balance between the various types of compensation components.</div>
              </td>
            </tr>

        </table>
        <div style="line-height: 1.25">&#160;</div>
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              </td>
              <td style="width: 28.35pt; vertical-align: top;">1.6.</td>
              <td style="width: auto; vertical-align: top; text-align: justify;">
                <div><u>Measures for setting the Compensation Policy</u></div>
              </td>
            </tr>

        </table>
        <div style="line-height: 1.25">&#160;</div>
        <div style="text-align: justify; margin-left: 46.2pt; line-height: 1.25;">The Compensation Policy is based among other things, on the following measures:</div>
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              <td style="width: 17.85pt; vertical-align: top;">a.</td>
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                <div>Each Officer&#8217;s education, skills, expertise and achievements.</div>
              </td>
            </tr>

        </table>
        <div style="line-height: 1.25">&#160;</div>
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              <td style="width: 17.85pt; vertical-align: top;">b.</td>
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                <div>The positions, areas of responsibility and previous wage agreements signed with the Officers.</div>
              </td>
            </tr>

        </table>
        <div style="line-height: 1.25">&#160;</div>
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              <td style="width: 46.2pt;"><br>
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              <td style="width: 17.85pt; vertical-align: top;">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>
              </td>
            </tr>

        </table>
        <div style="line-height: 1.25">&#160;</div>
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              <td style="width: 46.2pt;"><br>
              </td>
              <td style="width: 17.85pt; vertical-align: top;">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>
              </td>
            </tr>

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        <div style="line-height: 1.25">&#160;</div>
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          <div class="BRPFPageNumberArea" style="text-align: center;"><font class="BRPFPageNumber" style="font-weight: normal; font-style: normal;">A - 2</font></div>
          <div class="BRPFPageBreak" style="page-break-after: always;">
            <hr noshade="noshade" style="border-width: 0px; clear: both; margin: 4px 0px; width: 100%; height: 2px; color: #000000; background-color: #000000;"></div>
        </div>
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            <tr>
              <td style="width: 17.85pt;"><br>
              </td>
              <td style="width: 28.35pt; vertical-align: top;">1.7.</td>
              <td style="width: auto; vertical-align: top; text-align: justify;">
                <div><u>The Compensation Policy determination and approval process</u></div>
              </td>
            </tr>

        </table>
        <div style="line-height: 1.25">&#160;</div>
        <div style="text-align: justify; margin-left: 46.2pt; line-height: 1.25;">The BOD approved the&#160; Compensation Policy on November 11, 2019, following the adoption of the recommendations of the 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 BOD may even set the
          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>
        <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="ze295d385d90b4ababd43c94b63b35273">

            <tr>
              <td style="width: 17.85pt;"><br>
              </td>
              <td style="width: 28.35pt; vertical-align: top;">1.8.</td>
              <td style="width: auto; vertical-align: top; text-align: justify;">
                <div><u>Applicability</u></div>
              </td>
            </tr>

        </table>
        <div style="line-height: 1.25">&#160;</div>
        <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="z84797e0f03324fc4b05e32f828afb98e">

            <tr>
              <td style="width: 46.2pt;"><br>
              </td>
              <td style="width: 35.45pt; vertical-align: top;">1.8.1.</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>
              </td>
            </tr>

        </table>
        <div style="line-height: 1.25">&#160;</div>
        <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="zc74443a4dc6b4443a53f5d69fc85cc83">

            <tr>
              <td style="width: 46.2pt;"><br>
              </td>
              <td style="width: 35.45pt; vertical-align: top;">1.8.2.</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>
              </td>
            </tr>

        </table>
        <div style="line-height: 1.25">&#160;</div>
        <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="z59b3c3f86400405d939e32158fc2a745">

            <tr>
              <td style="width: 46.2pt;"><br>
              </td>
              <td style="width: 35.45pt; vertical-align: top;">1.8.3.</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>
              </td>
            </tr>

        </table>
        <div style="line-height: 1.25">&#160;</div>
        <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="z464122487c134ead94aedcf241b745d7">

            <tr>
              <td style="width: 81.65pt;"><br>
              </td>
              <td style="width: 17.85pt; vertical-align: top;">a.</td>
              <td style="width: auto; vertical-align: top; text-align: justify;">
                <div>Members of the BOD;</div>
              </td>
            </tr>

        </table>
        <div style="line-height: 1.25">&#160;</div>
        <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="z439e494619734410a456d8e18d3eb36a">

            <tr>
              <td style="width: 81.65pt;"><br>
              </td>
              <td style="width: 17.85pt; vertical-align: top;">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" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="z7c7b6fa9355b4fe6af15406718bd09a0">

            <tr>
              <td style="width: 81.65pt;"><br>
              </td>
              <td style="width: 17.85pt; vertical-align: top;">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.</div>
              </td>
            </tr>

        </table>
        <div style="line-height: 1.25">&#160;</div>
        <div style="text-align: justify; margin-left: 81.65pt; line-height: 1.25;">(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>
        <div style="line-height: 1.25">&#160;</div>
        <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="zac2e09b8a7bc4efb8db2f202b7f6583f">

            <tr>
              <td style="width: 17.85pt;"><br>
              </td>
              <td style="width: 28.35pt; vertical-align: top;">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="line-height: 1.25;"><br style="line-height: 1.25;">
        </div>
        <div class="BRPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
          <div class="BRPFPageNumberArea" style="text-align: center;"><font class="BRPFPageNumber" style="font-weight: normal; font-style: normal;">A - 3</font></div>
          <div class="BRPFPageBreak" style="page-break-after: always;">
            <hr noshade="noshade" style="border-width: 0px; clear: both; margin: 4px 0px; width: 100%; height: 2px; color: #000000; background-color: #000000;"></div>
        </div>
        <div style="line-height: 1.25">&#160;</div>
        <div style="text-align: center; margin-left: 18pt; line-height: 1.25; font-weight: bold;"><u>Chapter 2: The Compensation Components</u></div>
        <div style="line-height: 1.25">&#160;</div>
        <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="z0a544f66346245329bca667d249d9033">

            <tr>
              <td style="width: 18pt; vertical-align: top; font-weight: bold;">2.</td>
              <td style="width: auto; vertical-align: top; text-align: justify;">
                <div style="font-weight: bold;"><u>The components of the Compensation Policy</u></div>
              </td>
            </tr>

        </table>
        <div style="line-height: 1.25">&#160;</div>
        <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="z0e3034ab8ec74a95bfe85dee5d04f1ab">

            <tr>
              <td style="width: 17.85pt;"><br>
              </td>
              <td style="width: 28.35pt; vertical-align: top;">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" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="za15d3f7571704e98933274352484f456">

            <tr>
              <td style="width: 17.85pt;"><br>
              </td>
              <td style="width: 28.35pt; vertical-align: top;">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" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="z093cf18c710c421b924bcc86f6ca1e19">

            <tr>
              <td style="width: 46.2pt;"><br>
              </td>
              <td style="width: 17.85pt; vertical-align: top;">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" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="z7880c41580d64124a2878db2b3a9fe90">

            <tr>
              <td style="width: 46.2pt;"><br>
              </td>
              <td style="width: 17.85pt; vertical-align: top;">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>
        <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="zb4d3b764f5c5428e93a038f08bf0beac">

            <tr>
              <td style="width: 46.2pt;"><br>
              </td>
              <td style="width: 17.85pt; vertical-align: top;">c.</td>
              <td style="width: auto; vertical-align: top; text-align: justify;">
                <div><u>Variable Rewards in cash (Bonus)</u> &#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" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="z7f0c72546b9640559450897352754988">

            <tr>
              <td style="width: 46.2pt;"><br>
              </td>
              <td style="width: 17.85pt; vertical-align: top;">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" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="z9c496c0da13d496795661983ba9e64d1">

            <tr>
              <td style="width: 46.2pt;"><br>
              </td>
              <td style="width: 17.85pt; vertical-align: top;">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" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="zecd730d88f1442849913558682cdd4cc">

            <tr>
              <td style="width: 46.2pt;"><br>
              </td>
              <td style="width: 17.85pt; vertical-align: top;">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>
        <div class="BRPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
          <div class="BRPFPageNumberArea" style="text-align: center;"><font class="BRPFPageNumber" style="font-weight: normal; font-style: normal;">A - 4</font></div>
          <div class="BRPFPageBreak" style="page-break-after: always;">
            <hr noshade="noshade" style="border-width: 0px; clear: both; margin: 4px 0px; width: 100%; height: 2px; color: #000000; background-color: #000000;"></div>
        </div>
        <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="z326e300d85d1439dba7663b1ab89c585">

            <tr>
              <td style="width: 17.85pt;"><br>
              </td>
              <td style="width: 28.35pt; vertical-align: top;">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="font-weight: bold; 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="font-weight: bold; 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" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="z0dab13a93a0a4f71883d97b73dc3f7d2">

            <tr>
              <td style="width: 17.85pt;"><br>
              </td>
              <td style="width: 28.35pt; vertical-align: top;">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. 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">&#160;</div>
        <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="z4ba0847d229f4b9cba7f64d2fa070fe9">

            <tr>
              <td style="width: 17.85pt;"><br>
              </td>
              <td style="width: 28.35pt; vertical-align: top;">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" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="z5849e5cef7934d7ea6175f3b4085af4a">

            <tr>
              <td style="width: 18pt; vertical-align: top; font-weight: bold;">3.</td>
              <td style="width: auto; vertical-align: top; text-align: justify;">
                <div style="font-weight: bold;"><u>Base Salary</u><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" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="z64a5990c99a24113a139dca55a2cb5fe">

            <tr>
              <td style="width: 17.85pt;"><br>
              </td>
              <td style="width: 28.35pt; vertical-align: top;">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="text-align: justify; margin-left: 46.2pt; line-height: 1.25;">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 (the &#8220;<font style="font-weight: bold;">Compensation Laws</font>&#8221;). 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>
        <div style="line-height: 1.25"> <br>
          <hr noshade="noshade" align="left" style="background-color: #000000; border: 0px; height: 1px; width: 2in; margin-left: 0pt; margin-right: auto; color: #000000;">
          <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable">

              <tr>
                <td style="width: 19.85pt; vertical-align: top;"><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" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable">

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

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

          </table>
          <div style="line-height: 1.25">&#160;</div>
          <div class="BRPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
            <div class="BRPFPageNumberArea" style="text-align: center;"><font class="BRPFPageNumber" style="font-weight: normal; font-style: normal;">A - 5</font></div>
            <div class="BRPFPageBreak" style="page-break-after: always;">
              <hr noshade="noshade" style="border-width: 0px; clear: both; margin: 4px 0px; width: 100%; height: 2px; color: #000000; background-color: #000000;"></div>
          </div>
        </div>
        <div style="line-height: 1.25"> <br>
        </div>
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            <tr>
              <td style="width: 17.85pt;"><br>
              </td>
              <td style="width: 28.35pt; vertical-align: top;">3.2.</td>
              <td style="width: auto; vertical-align: top; text-align: justify;">
                <div><u>Maximum monthly base salary</u></div>
              </td>
            </tr>

        </table>
        <div style="line-height: 1.25">&#160;</div>
        <div style="margin-left: 54pt;">
          <table cellspacing="0" cellpadding="2" border="0" style="width: 90%; color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; text-align: left;" id="zd89f6e7eeffb422787907501bf98c6ec">

              <tr>
                <td nowrap="nowrap" style="width: 43.89%; vertical-align: top; border-top: 2px solid rgb(0, 0, 0); border-left: 2px solid rgb(0, 0, 0);">
                  <div style="text-align: center; line-height: 1.25; font-weight: bold;"><br>
                    Officer</div>
                </td>
                <td nowrap="nowrap" style="width: 29.87%; vertical-align: top; border-top: 2px solid rgb(0, 0, 0); border-left: 2px solid rgb(0, 0, 0);">
                  <div style="text-align: center; line-height: 1.25; font-weight: bold;">Maximum monthly base </div>
                  <div style="text-align: center; line-height: 1.25; font-weight: bold;">salary (gross) in NIS</div>
                </td>
                <td style="width: 26.24%; vertical-align: top; border-top: 2px solid rgb(0, 0, 0); border-left: 2px solid rgb(0, 0, 0); border-right: 2px solid rgb(0, 0, 0);">
                  <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;">Scope of position<sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">4</sup></div>
                </td>
              </tr>
              <tr>
                <td nowrap="nowrap" style="width: 43.89%; vertical-align: top; border-top: 2px solid rgb(0, 0, 0); border-left: 2px solid rgb(0, 0, 0);">
                  <div style="line-height: 1.25;">Active Chairman of the Board<sup style="font-weight: bold; vertical-align: text-top; line-height: 1; font-size: smaller;">5</sup></div>
                </td>
                <td nowrap="nowrap" style="width: 29.87%; vertical-align: top; border-top: 2px solid rgb(0, 0, 0); border-left: 2px solid rgb(0, 0, 0);">
                  <div style="text-align: center; line-height: 1.25;">100,000</div>
                </td>
                <td style="width: 26.24%; vertical-align: top; border-top: 2px solid rgb(0, 0, 0); border-left: 2px solid rgb(0, 0, 0); border-right: 2px solid rgb(0, 0, 0);">
                  <div style="text-align: center; line-height: 1.25;">As may be Required</div>
                </td>
              </tr>
              <tr>
                <td nowrap="nowrap" style="width: 43.89%; vertical-align: top; border-top: 2px solid rgb(0, 0, 0); border-left: 2px solid rgb(0, 0, 0);">
                  <div style="line-height: 1.25;">CEO</div>
                </td>
                <td nowrap="nowrap" style="width: 29.87%; vertical-align: top; border-top: 2px solid rgb(0, 0, 0); border-left: 2px solid rgb(0, 0, 0);">
                  <div style="text-align: center; line-height: 1.25;">95,000<sup style="font-weight: bold; vertical-align: text-top; line-height: 1; font-size: smaller;">6</sup></div>
                </td>
                <td style="width: 26.24%; vertical-align: top; border-top: 2px solid rgb(0, 0, 0); border-left: 2px solid rgb(0, 0, 0); border-right: 2px solid rgb(0, 0, 0);">
                  <div style="text-align: center; line-height: 1.25;">100%</div>
                </td>
              </tr>
              <tr>
                <td nowrap="nowrap" style="width: 43.89%; vertical-align: top; border-top: 2px solid rgb(0, 0, 0); border-left: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0);">
                  <div style="line-height: 1.25;">Deputy CEO, vice presidents and other Officers<sup style="font-weight: bold; vertical-align: text-top; line-height: 1; font-size: smaller;">7</sup></div>
                </td>
                <td nowrap="nowrap" style="width: 29.87%; vertical-align: top; border-top: 2px solid rgb(0, 0, 0); border-left: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0);">
                  <div style="text-align: center; line-height: 1.25;">55,000</div>
                </td>
                <td style="width: 26.24%; vertical-align: top; border-width: 2px; border-style: solid; border-color: rgb(0, 0, 0);">
                  <div style="text-align: center; line-height: 1.25;">100%</div>
                </td>
              </tr>

          </table>
        </div>
        <div> <br>
        </div>
        <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="z7d1fd90e99d3426ea3ada09f48428e45">

            <tr>
              <td style="width: 17.85pt;"><br>
              </td>
              <td style="width: 28.35pt; vertical-align: top;">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="text-align: justify; margin-left: 46.2pt; line-height: 1.25;">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="font-weight: bold; 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" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="z8fcbe7387c7942a1bd38435c02821544">

            <tr>
              <td style="width: 17.85pt;"><br>
              </td>
              <td style="width: 28.35pt; vertical-align: top;">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="text-align: justify; margin-left: 46.2pt; line-height: 1.25;">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 BOD 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;</div>
        <div style="text-align: justify; margin-left: 46.2pt; line-height: 1.25;">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;<br>
          <hr noshade="noshade" align="left" style="background-color: #000000; border: 0px; height: 1px; width: 2in; margin-left: 0pt; margin-right: auto; color: #000000;">
          <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable">

              <tr>
                <td style="width: 19.85pt; vertical-align: top; font-weight: bold;"><sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">4</sup> <br>
                </td>
                <td style="width: auto; vertical-align: top; text-align: justify;">
                  <div>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 style="line-height: 1.25">&#160;</div>
          <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable">

              <tr>
                <td style="width: 19.85pt; vertical-align: top; font-weight: bold;"><sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">5<br>
                  </sup></td>
                <td style="width: auto; vertical-align: top; text-align: justify;">
                  <div>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 BOD (including his position as chairman of
                    the board).</div>
                </td>
              </tr>

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

              <tr>
                <td style="width: 19.85pt; vertical-align: top; font-weight: bold;"><sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">6 <br>
                  </sup></td>
                <td style="width: auto; vertical-align: top; text-align: justify;">
                  <div>An incremental allowance (&#8220;<font style="font-weight: bold;">Tosefet Yoker</font>&#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.</div>
                </td>
              </tr>

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

                <tr>
                  <td style="width: 19.85pt; vertical-align: top; font-weight: bold;"><sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">7 <br>
                    </sup></td>
                  <td style="width: auto; vertical-align: top; text-align: justify;">
                    <div>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 style="line-height: 1.25">&#160;</div>
            <div style="line-height: 1.25">
              <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable">

                  <tr>
                    <td style="width: 19.85pt; vertical-align: top; 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>
                        <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 BOD.</div>
                      </div>
                    </td>
                  </tr>

              </table>
            </div>
          </div>
          <div style="line-height: 1.25">&#160;</div>
        </div>
        <div class="BRPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
          <div class="BRPFPageNumberArea" style="text-align: center;"><font class="BRPFPageNumber" style="font-weight: normal; font-style: normal;">A - 6</font></div>
          <div class="BRPFPageBreak" style="page-break-after: always;">
            <hr noshade="noshade" style="border-width: 0px; clear: both; margin: 4px 0px; width: 100%; height: 2px; color: #000000; background-color: #000000;"></div>
        </div>
        <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="z0f36f6b9e8f34288b32d9158a42b4e25">

            <tr>
              <td style="width: 17.85pt;"><br>
              </td>
              <td style="width: 28.35pt; vertical-align: top;">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="text-align: justify; margin-left: 46.2pt; line-height: 1.25;">From time to time the Compensation Committee and the 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" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="zed4bc3cf20884bb0954872e3f16bfc95">

            <tr>
              <td style="width: 17.85pt;"><br>
              </td>
              <td style="width: 28.35pt; vertical-align: top;">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 Clause 4 below.</div>
              </td>
            </tr>

        </table>
        <div style="line-height: 1.25">&#160;</div>
        <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="z8cf611b6b0b74496a51bc964ac3b6f4f">

            <tr>
              <td style="width: 18pt; vertical-align: top; font-weight: bold;">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" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="z70bcfdb56157489abb26702af7690440">

            <tr>
              <td style="width: 17.85pt;"><br>
              </td>
              <td style="width: 28.35pt; vertical-align: top;">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="text-align: justify; margin-left: 46.2pt; line-height: 1.25;">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 class="BRPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
          <div class="BRPFPageNumberArea" style="text-align: center;"><font class="BRPFPageNumber" style="font-weight: normal; font-style: normal;">A - 7</font></div>
          <div class="BRPFPageBreak" style="page-break-after: always;">
            <hr noshade="noshade" style="border-width: 0px; clear: both; margin: 4px 0px; width: 100%; height: 2px; color: #000000; background-color: #000000;"></div>
        </div>
        <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="z2385a81e90f4437aa8b7d49fc442c499">

            <tr>
              <td style="width: 17.85pt;"><br>
              </td>
              <td style="width: 28.35pt; vertical-align: top;">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="text-align: justify; margin-left: 46.2pt; line-height: 1.25;">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" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="z2c8b727c960d4840bf2628169d334cf3">

            <tr>
              <td style="width: 17.85pt;"><br>
              </td>
              <td style="width: 28.35pt; vertical-align: top;">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="text-align: justify; margin-left: 46.2pt; line-height: 1.25;">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" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="zf71dca47c43643f08a3fdc7c82a16b43">

            <tr>
              <td style="width: 17.85pt;"><br>
              </td>
              <td style="width: 28.35pt; vertical-align: top;">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="text-align: justify; margin-left: 46.2pt; line-height: 1.25;">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" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="z1a2df067e68e4b1dbed52d591531a128">

            <tr>
              <td style="width: 17.85pt;"><br>
              </td>
              <td style="width: 28.35pt; vertical-align: top;">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" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="zd9753418c2c44cb2b1d1d4ae1c923149">

            <tr>
              <td style="width: 46.2pt;"><br>
              </td>
              <td style="width: 35.45pt; vertical-align: top;">4.5.1.</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="font-weight: bold; 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: 81pt;">
          <table cellspacing="0" cellpadding="2" border="0" style="width: 90%; color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; text-align: left;" id="z4f3c53dbbbec453c97da455f00e0de13">

              <tr>
                <td nowrap="nowrap" style="width: 51.97%; vertical-align: top; border-top: 2px solid rgb(0, 0, 0); border-left: 2px solid rgb(0, 0, 0);">
                  <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;">Officer</div>
                </td>
                <td nowrap="nowrap" style="width: 48.03%; vertical-align: top; border-top: 2px solid rgb(0, 0, 0); border-left: 2px solid rgb(0, 0, 0); border-right: 2px solid rgb(0, 0, 0);">
                  <div style="text-align: center; line-height: 1.25; font-weight: bold;">Maximum total number of days*</div>
                  <div style="text-align: center; line-height: 1.25; font-weight: bold;">(in terms of work days)</div>
                </td>
              </tr>
              <tr>
                <td nowrap="nowrap" style="width: 51.97%; vertical-align: top; border-top: 2px solid rgb(0, 0, 0); border-left: 2px solid rgb(0, 0, 0);">
                  <div style="line-height: 1.25;">Active Chairman of the Board, CEO</div>
                </td>
                <td nowrap="nowrap" style="width: 48.03%; vertical-align: top; border-top: 2px solid rgb(0, 0, 0); border-left: 2px solid rgb(0, 0, 0); border-right: 2px solid rgb(0, 0, 0);">
                  <div style="text-align: center; line-height: 1.25;">24</div>
                </td>
              </tr>
              <tr>
                <td nowrap="nowrap" style="width: 51.97%; vertical-align: top; border-top: 2px solid rgb(0, 0, 0); border-left: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0);">
                  <div style="line-height: 1.25;">Deputy CEO, vice presidents and other Officers</div>
                </td>
                <td nowrap="nowrap" style="width: 48.03%; vertical-align: top; border-width: 2px; border-style: solid; border-color: rgb(0, 0, 0);">
                  <div style="text-align: center; line-height: 1.25;">24</div>
                </td>
              </tr>

          </table>
        </div>
        <div style="text-align: justify; margin-left: 78pt; line-height: 1.25;">* Including the right to be absent for &#8220;optional days&#8221;</div>
        <div style="line-height: 1.25"><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 style="text-align: justify; text-indent: -19.85pt; margin-left: 19.85pt; line-height: 1.25;"><sup style="vertical-align: text-top; line-height: 1; font-size: smaller;"><font style="font-weight: bold;">9</font></sup>&#160; Vacation days are calculated based on a 5-day work week.</div>
          <div style="text-align: justify; text-indent: -19.85pt; margin-left: 19.85pt; line-height: 1.25;"> <br>
          </div>
          <div class="BRPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
            <div class="BRPFPageNumberArea" style="text-align: center;"><font class="BRPFPageNumber" style="font-weight: normal; font-style: normal;">A - 8</font></div>
            <div class="BRPFPageBreak" style="page-break-after: always;">
              <hr noshade="noshade" style="border-width: 0px; clear: both; margin: 4px 0px; width: 100%; height: 2px; color: #000000; background-color: #000000;"></div>
          </div>
          <div style="text-align: justify; text-indent: -19.85pt; margin-left: 19.85pt; line-height: 1.25;"> <br>
          </div>
        </div>
        <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="ze42cbd6461cf4f809f3c43231158b219">

            <tr>
              <td style="width: 46.2pt;"><br>
              </td>
              <td style="width: 35.45pt; vertical-align: top;">4.5.2.</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" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="zdc7864b9442f4bc18847655d2ff3359d">

            <tr>
              <td style="width: 46.2pt;"><br>
              </td>
              <td style="width: 35.45pt; vertical-align: top;">4.5.3.</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 (the<font style="font-weight: bold;">&#160;</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" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="zc0f4a4758aea4373b0fbdca86e959193">

            <tr>
              <td style="width: 46.2pt;"><br>
              </td>
              <td style="width: 35.45pt; vertical-align: top;">4.5.4.</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" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="z1e7e53f9d81f4688be1f908250ec3e3e">

            <tr>
              <td style="width: 46.2pt;"><br>
              </td>
              <td style="width: 35.45pt; vertical-align: top;">4.5.5.</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" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="z0acbda3099ae4afe988a90faf499035e">

            <tr>
              <td style="width: 17.85pt;"><br>
              </td>
              <td style="width: 28.35pt; vertical-align: top;">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="text-align: justify; margin-left: 46.2pt; line-height: 1.25;">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: 45pt;">
          <table cellspacing="0" cellpadding="2" border="0" style="width: 90%; color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; text-align: left;" id="z0cff18f180de4d4992e9387cc1375706">

              <tr>
                <td nowrap="nowrap" style="width: 61.7%; vertical-align: top; border-top: 2px solid rgb(0, 0, 0); border-left: 2px solid rgb(0, 0, 0);">
                  <div style="text-align: center; line-height: 1.25; font-weight: bold;">Officer</div>
                </td>
                <td nowrap="nowrap" style="width: 38.3%; vertical-align: top; border-top: 2px solid rgb(0, 0, 0); border-left: 2px solid rgb(0, 0, 0); border-right: 2px solid rgb(0, 0, 0);">
                  <div style="text-align: center; line-height: 1.25; font-weight: bold;">Car price ceiling (NIS<sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">10</sup>)</div>
                </td>
              </tr>
              <tr>
                <td nowrap="nowrap" style="width: 61.7%; vertical-align: top; border-top: 2px solid rgb(0, 0, 0); border-left: 2px solid rgb(0, 0, 0);">
                  <div style="line-height: 1.25;">Active Chairman of the Board</div>
                </td>
                <td nowrap="nowrap" style="width: 38.3%; vertical-align: top; border-top: 2px solid rgb(0, 0, 0); border-left: 2px solid rgb(0, 0, 0); border-right: 2px solid rgb(0, 0, 0);">
                  <div style="text-align: center; line-height: 1.25;">Up to NIS 300,000</div>
                </td>
              </tr>
              <tr>
                <td nowrap="nowrap" style="width: 61.7%; vertical-align: top; border-top: 2px solid rgb(0, 0, 0); border-left: 2px solid rgb(0, 0, 0);">
                  <div style="line-height: 1.25;">CEO</div>
                </td>
                <td nowrap="nowrap" style="width: 38.3%; vertical-align: top; border-top: 2px solid rgb(0, 0, 0); border-left: 2px solid rgb(0, 0, 0); border-right: 2px solid rgb(0, 0, 0);">
                  <div style="text-align: center; line-height: 1.25;">Up to NIS 300,000</div>
                </td>
              </tr>
              <tr>
                <td nowrap="nowrap" style="width: 61.7%; vertical-align: top; border-top: 2px solid rgb(0, 0, 0); border-left: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0);">
                  <div style="line-height: 1.25;">Deputy CEO, vice presidents and other Officers</div>
                </td>
                <td nowrap="nowrap" style="width: 38.3%; vertical-align: top; border-width: 2px; border-style: solid; border-color: rgb(0, 0, 0);">
                  <div style="text-align: center; line-height: 1.25;">Up to NIS 220,000</div>
                </td>
              </tr>

          </table>
        </div>
        <div> <br>
        </div>
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            <tr>
              <td style="width: 17.85pt;"><br>
              </td>
              <td style="width: 28.35pt; vertical-align: top;">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="text-align: justify; margin-left: 46.2pt; line-height: 1.25;">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;<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 style="text-align: justify; text-indent: -19.85pt; margin-left: 19.85pt; line-height: 1.25;"><font style="font-weight: bold;"><sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">10</sup></font> The car price ceiling will be linked to the Cost of Living Index.</div>
        </div>
        <div class="BRPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
          <div class="BRPFPageNumberArea" style="text-align: center;"><font class="BRPFPageNumber" style="font-weight: normal; font-style: normal;">A - 9</font></div>
          <div class="BRPFPageBreak" style="page-break-after: always;">
            <hr noshade="noshade" style="border-width: 0px; clear: both; margin: 4px 0px; width: 100%; height: 2px; color: #000000; background-color: #000000;"></div>
        </div>
        <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="zb750d250a3f54cccbbd50d2673a581e1">

            <tr>
              <td style="width: 17.85pt;"><br>
              </td>
              <td style="width: 28.35pt; vertical-align: top;">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" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="zec8e3dcc91774fbeaea047ad4e15b058">

            <tr>
              <td style="width: 46.2pt;"><br>
              </td>
              <td style="width: 35.45pt; vertical-align: top;">4.8.1.</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" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="zcdc465daabda4f74bdd92278fb3514a8">

            <tr>
              <td style="width: 46.2pt;"><br>
              </td>
              <td style="width: 35.45pt; vertical-align: top;">4.8.2.</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>
        <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="zb305e217641b4fc69ffe4968e34aa886">

            <tr>
              <td style="width: 17.85pt;"><br>
              </td>
              <td style="width: 28.35pt; vertical-align: top;">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 to 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" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="z8a8d09e7d0324e7294878504658048ed">

            <tr>
              <td style="width: 18pt; vertical-align: top; font-weight: bold;">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" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="z7ff07387ee3348c3905b6177e835bbf7">

            <tr>
              <td style="width: 17.85pt;"><br>
              </td>
              <td style="width: 28.35pt; vertical-align: top;">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>
        <div class="BRPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
          <div class="BRPFPageNumberArea" style="text-align: center;"><font class="BRPFPageNumber" style="font-weight: normal; font-style: normal;">A - 10</font></div>
          <div class="BRPFPageBreak" style="page-break-after: always;">
            <hr noshade="noshade" style="border-width: 0px; clear: both; margin: 4px 0px; width: 100%; height: 2px; color: #000000; background-color: #000000;"></div>
        </div>
        <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="zb46fd8209a234a1486ab617a7a8c19f9">

            <tr>
              <td style="width: 17.85pt;"><br>
              </td>
              <td style="width: 28.35pt; vertical-align: top;">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" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="zed8abf9ecc194e4e871d94b0001dd85d">

            <tr>
              <td style="width: 46.2pt;"><br>
              </td>
              <td style="width: 35.45pt; vertical-align: top;">5.2.1.</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</font>&#8221;);</div>
              </td>
            </tr>

        </table>
        <div style="line-height: 1.25">&#160;</div>
        <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="z25a82601e6f14707be076621d3649b25">

            <tr>
              <td style="width: 46.2pt;"><br>
              </td>
              <td style="width: 35.45pt; vertical-align: top;">5.2.2.</td>
              <td style="width: auto; vertical-align: top; text-align: justify;">
                <div>The Annual Bonus Plan will be based upon at least <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 &#8220;<font style="font-weight: bold;">Criteria</font>&#8221;).</div>
              </td>
            </tr>

        </table>
        <div style="line-height: 1.25">&#160;</div>
        <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="za0e16a91f1d44e8ba2b6de2d1f8daed0">

            <tr>
              <td style="width: 46.2pt;"><br>
              </td>
              <td style="width: 35.45pt; vertical-align: top;">5.2.3.</td>
              <td style="width: auto; vertical-align: top; text-align: justify;">
                <div>[Reserved.]</div>
              </td>
            </tr>

        </table>
        <div style="line-height: 1.25">&#160;</div>
        <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="z09b728256246465786bdd5a4ec8dc9b3">

            <tr>
              <td style="width: 46.2pt;"><br>
              </td>
              <td style="width: 35.45pt; vertical-align: top;">5.2.4.</td>
              <td style="width: auto; vertical-align: top; text-align: justify;">
                <div>With respect to the Criteria, as applicable, the Company will set the targets for that year (the &#8220;<font style="font-weight: bold;">Targets</font>&#8221;), such that a minimum target for the Criteria shall be set, as applicable, under which
                  the officer will not be eligible for a bonus for such Criteria (the &#8220;<font style="font-weight: bold;">Threshold Conditions</font>&#8221;). The CEO of the Company may determine the Targets of the officers reporting to the CEO, while the CEO&#8217;s or
                  the (active) Chairman's Targets shall be determined by the Compensation Committee and the BOD.</div>
              </td>
            </tr>

        </table>
        <div style="line-height: 1.25">&#160;</div>
        <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="z48912647891e4c7b8aea1cfc4d3526ec">

            <tr>
              <td style="width: 46.2pt;"><br>
              </td>
              <td style="width: 35.45pt; vertical-align: top;">5.2.5.</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 CEO
                  (with respect to the officers reporting to the CEO, except for the CFO); subject to the discretion of the CEO and the Chairman of the Audit Committee (with respect to the CFO); and subject to the discretion of the Compensation Committee
                  and the BOD (with respect to the CEO), <font style="font-style: italic;">provided, </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 Clause 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>
        <div class="BRPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
          <div class="BRPFPageNumberArea" style="text-align: center;"><font class="BRPFPageNumber" style="font-weight: normal; font-style: normal;">A - 11</font></div>
          <div class="BRPFPageBreak" style="page-break-after: always;">
            <hr noshade="noshade" style="border-width: 0px; clear: both; margin: 4px 0px; width: 100%; height: 2px; color: #000000; background-color: #000000;"></div>
        </div>
        <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="zd1ec27323a164b859d9bcbc5d04cce30">

            <tr>
              <td style="width: 46.2pt;"><br>
              </td>
              <td style="width: 35.45pt; vertical-align: top;">5.2.6.</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>
        <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="zafed526020a743d280c3a0f527ce8448">

            <tr>
              <td style="width: 46.2pt;"><br>
              </td>
              <td style="width: 35.45pt; vertical-align: top;">5.2.7.</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: 81.65pt; 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>&#8221;), shall be for each of the
          officers as follows:</div>
        <div style="line-height: 1.25">&#160;</div>
        <div style="margin-left: 81pt;">
          <table cellspacing="0" cellpadding="2" border="0" style="width: 90%; color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; text-align: left;" id="zad4431fde2d64fc98b674cf499190c3d">

              <tr>
                <td style="width: 24.27%; vertical-align: middle; border-top: 2px solid rgb(0, 0, 0); border-left: 2px solid rgb(0, 0, 0);">&#160;</td>
                <td style="width: 48.5%; vertical-align: middle; border-top: 2px solid rgb(0, 0, 0); border-left: 2px solid rgb(0, 0, 0);">
                  <div style="text-align: center; line-height: 1.25;">CEO and Active Chairman of the Board</div>
                </td>
                <td style="width: 27.24%; vertical-align: middle; border-top: 2px solid rgb(0, 0, 0); border-left: 2px solid rgb(0, 0, 0); border-right: 2px solid rgb(0, 0, 0);">
                  <div style="text-align: center; line-height: 1.25;">Company&#8217;s Officers</div>
                </td>
              </tr>
              <tr>
                <td style="width: 24.27%; vertical-align: middle; border-top: 2px solid rgb(0, 0, 0); border-left: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0);">
                  <div style="text-align: center; line-height: 1.25;">Grant Ceiling</div>
                </td>
                <td style="width: 48.5%; vertical-align: middle; border-top: 2px solid rgb(0, 0, 0); border-left: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0);">
                  <div style="text-align: center; line-height: 1.25;">Up to 9 Salaries</div>
                </td>
                <td style="width: 27.24%; vertical-align: middle; border-width: 2px; border-style: solid; border-color: rgb(0, 0, 0);">
                  <div style="text-align: center; line-height: 1.25;">Up to 6 Salaries</div>
                </td>
              </tr>

          </table>
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        <div> <br>
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            <tr>
              <td style="width: 46.2pt;"><br>
              </td>
              <td style="width: 35.45pt; vertical-align: top;">5.2.8.</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" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="zaa0850d0f6564178ad10bac1a597d70c">

            <tr>
              <td style="width: 81.65pt;"><br>
              </td>
              <td style="width: 45.95pt; vertical-align: top;">5.2.8.1.</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" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="z3a384ce49d2d451eb439a138d03562c3">

            <tr>
              <td style="width: 81.65pt;"><br>
              </td>
              <td style="width: 45.95pt; vertical-align: top;">5.2.8.2.</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" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="zaf01f9e3f69a4ab7b6ded29d90cbf7bc">

            <tr>
              <td style="width: 81.65pt;"><br>
              </td>
              <td style="width: 45.95pt; vertical-align: top;">5.2.8.3.</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" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="z8e315d8e2aa1404fb388df3d2ef00922">

            <tr>
              <td style="width: 17.85pt;"><br>
              </td>
              <td style="width: 28.35pt; vertical-align: top;">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" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="z209c1c71878943f581b8618804ca63dd">

            <tr>
              <td style="width: 46.2pt;"><br>
              </td>
              <td style="width: 35.45pt; vertical-align: top;">5.3.1.</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 BOD, 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="font-weight: bold; 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 class="BRPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
          <div class="BRPFPageNumberArea" style="text-align: center;"><font class="BRPFPageNumber" style="font-weight: normal; font-style: normal;">A - 12</font></div>
          <div class="BRPFPageBreak" style="page-break-after: always;">
            <hr noshade="noshade" style="border-width: 0px; clear: both; margin: 4px 0px; width: 100%; height: 2px; color: #000000; background-color: #000000;"></div>
        </div>
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            <tr>
              <td style="width: 46.2pt;"><br>
              </td>
              <td style="width: 35.45pt; vertical-align: top;">5.3.2.</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" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="zf1a1d7a71ce94a838c44bb65a6f38959">

            <tr>
              <td style="width: 46.2pt;"><br>
              </td>
              <td style="width: 35.45pt; vertical-align: top;">5.3.3.</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" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="z79a98ed39bb545c09f2268feb7f0de46">

            <tr>
              <td style="width: 46.2pt;"><br>
              </td>
              <td style="width: 35.45pt; vertical-align: top;">5.3.4.</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 5.2.7. above.</div>
              </td>
            </tr>

        </table>
        <div style="line-height: 1.25">&#160;</div>
        <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="z16f92e4c95ad40a59d1afffeea55da4a">

            <tr>
              <td style="width: 17.85pt;"><br>
              </td>
              <td style="width: 28.35pt; vertical-align: top;">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" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="z7188f2cfcc1049689922f45b2bd9df2a">

            <tr>
              <td style="width: 46.2pt;"><br>
              </td>
              <td style="width: 35.45pt; vertical-align: top;">5.4.1.</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 Clause 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 Clause 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 5.2.7. above.</div>
              </td>
            </tr>

        </table>
        <div style="line-height: 1.25">&#160;</div>
        <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="zd3db105cc58e4edf81daba3168cdb44b">

            <tr>
              <td style="width: 46.2pt;"><br>
              </td>
              <td style="width: 35.45pt; vertical-align: top;">5.4.2.</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" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="zbf3f7b03c68349adb26d81bf1dce9c5a">

            <tr>
              <td style="width: 46.2pt;"><br>
              </td>
              <td style="width: 35.45pt; vertical-align: top;">5.4.3.</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 5.2.7, above.</div>
              </td>
            </tr>

        </table>
        <div style="line-height: 1.25">&#160;</div>
        <div style="line-height: 1.25"><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 style="text-align: justify; text-indent: -19.85pt; margin-left: 19.85pt; line-height: 1.25;"><font style="font-weight: bold;"><sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">11</sup></font>&#160; If the CEO is a controlling shareholder or his relative, additional approvals will be
            required in accordance with applicable law.</div>
        </div>
        <div class="BRPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
          <div class="BRPFPageNumberArea" style="text-align: center;"><font class="BRPFPageNumber" style="font-weight: normal; font-style: normal;">A - 13</font></div>
          <div class="BRPFPageBreak" style="page-break-after: always;">
            <hr noshade="noshade" style="border-width: 0px; clear: both; margin: 4px 0px; width: 100%; height: 2px; color: #000000; background-color: #000000;"></div>
        </div>
        <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="z24a4178bb16044f998e4eec75a5ad2b4">

            <tr>
              <td style="width: 17.85pt;"><br>
              </td>
              <td style="width: 28.35pt; vertical-align: top;">5.5.</td>
              <td style="width: auto; vertical-align: top; text-align: justify;">
                <div><u>Recovery of sums paid in error</u><font style="font-style: italic;">[Reserved]</font></div>
              </td>
            </tr>

        </table>
        <div style="line-height: 1.25">&#160;</div>
        <div style="text-align: justify; margin-left: 46.2pt; line-height: 1.25;"><strike>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;</strike><font style="font-weight: bold;"><strike>surplus amount</strike></font><strike>&#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 the BOD.</strike></div>
        <div style="line-height: 1.25">&#160;</div>
        <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="z17a8b7861d964bc690bb1d9bf53a3690">

            <tr>
              <td style="width: 17.85pt;"><br>
              </td>
              <td style="width: 28.35pt; vertical-align: top;">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="text-align: justify; margin-left: 46.2pt; line-height: 1.25;">The 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" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="zd50410b3b50f4e609d318120f8e75d6f">

            <tr>
              <td style="width: 17.85pt;"><br>
              </td>
              <td style="width: 28.35pt; vertical-align: top;">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" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="zf00f34cab1c4481d9ec6967a7b19fc97">

            <tr>
              <td style="width: 18pt; vertical-align: top; font-weight: bold;">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" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="z0f0b9c07776e474a8ba7ef5352167773">

            <tr>
              <td style="width: 17.85pt;"><br>
              </td>
              <td style="width: 28.35pt; vertical-align: top;">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" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="zc7f3b856d50d4919a74024eae66f251d">

            <tr>
              <td style="width: 17.85pt;"><br>
              </td>
              <td style="width: 28.35pt; vertical-align: top;">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 class="BRPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
          <div class="BRPFPageNumberArea" style="text-align: center;"><font class="BRPFPageNumber" style="font-weight: normal; font-style: normal;">A - 14</font></div>
          <div class="BRPFPageBreak" style="page-break-after: always;">
            <hr noshade="noshade" style="border-width: 0px; clear: both; margin: 4px 0px; width: 100%; height: 2px; color: #000000; background-color: #000000;"></div>
        </div>
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            <tr>
              <td style="width: 17.85pt;"><br>
              </td>
              <td style="width: 28.35pt; vertical-align: top;">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" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="ze9199a2245b944258131d92a2478aefd">

            <tr>
              <td style="width: 17.85pt;"><br>
              </td>
              <td style="width: 28.35pt; vertical-align: top;">6.4.</td>
              <td style="width: auto; vertical-align: top; text-align: justify;">
                <div>The Options Plan will include the following terms:</div>
              </td>
            </tr>

        </table>
        <div style="line-height: 1.25">&#160;</div>
        <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="zfb40c1f4c5784d9aa96f79f15e9d451b">

            <tr>
              <td style="width: 46.2pt;"><br>
              </td>
              <td style="width: 35.45pt; vertical-align: top;">6.4.1.</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" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="zae188ba5bbe84d2ba1d1956823c3c2cf">

            <tr>
              <td style="width: 46.2pt;"><br>
              </td>
              <td style="width: 35.45pt; vertical-align: top;">6.4.2.</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 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 BOD&#8217;s 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" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="z158c7bd61c5a4bdeb231630f2ceae856">

            <tr>
              <td style="width: 46.2pt;"><br>
              </td>
              <td style="width: 35.45pt; vertical-align: top;">6.4.3.</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" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="z961a6b7b5113441c84db432677a62bc0">

            <tr>
              <td style="width: 46.2pt;"><br>
              </td>
              <td style="width: 35.45pt; vertical-align: top;">6.4.4.</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>
        <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="z89ddcb65231d440f822f59e149ee080b">

            <tr>
              <td style="width: 46.2pt;"><br>
              </td>
              <td style="width: 35.45pt; vertical-align: top;">6.4.5.</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" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="z30347f43793048c5894393b4f4071d7a">

            <tr>
              <td style="width: 17.85pt;"><br>
              </td>
              <td style="width: 28.35pt; vertical-align: top;">6.5.</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="text-align: justify; margin-left: 46.2pt; line-height: 1.25;">Following consideration of this matter, the Compensation Committee and the 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>
        <div class="BRPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
          <div class="BRPFPageNumberArea" style="text-align: center;"><font class="BRPFPageNumber" style="font-weight: normal; font-style: normal;">A - 15</font></div>
          <div class="BRPFPageBreak" style="page-break-after: always;">
            <hr noshade="noshade" style="border-width: 0px; clear: both; margin: 4px 0px; width: 100%; height: 2px; color: #000000; background-color: #000000;"></div>
        </div>
        <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="z42b22b4123374681b1a56531be1a413a">

            <tr>
              <td style="width: 17.85pt;"><br>
              </td>
              <td style="width: 28.35pt; vertical-align: top;">6.6.</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 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>
        <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="zfa8bd6cf35f34e65861331c498365a9d">

            <tr>
              <td style="width: 18pt; vertical-align: top; font-weight: bold;">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" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="z416d7db3638540e8a9dcbf67445d9fcc">

            <tr>
              <td style="width: 17.85pt;"><br>
              </td>
              <td style="width: 28.35pt; vertical-align: top;">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="text-align: justify; margin-left: 46.2pt; line-height: 1.25;">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: 45pt;">
          <table cellspacing="0" cellpadding="2" border="0" style="width: 90%; color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; text-align: left;" id="zf4d8b56845db49ffbb028446ebace12f">

              <tr>
                <td nowrap="nowrap" style="width: 46.06%; vertical-align: bottom; border-top: 2px solid rgb(0, 0, 0); border-left: 2px solid rgb(0, 0, 0);">
                  <div style="text-align: center; line-height: 1.25; font-weight: bold;">Officer</div>
                </td>
                <td nowrap="nowrap" style="width: 53.94%; vertical-align: bottom; border-top: 2px solid rgb(0, 0, 0); border-left: 2px solid rgb(0, 0, 0); border-right: 2px solid rgb(0, 0, 0);">
                  <div style="text-align: center; line-height: 1.25; font-weight: bold;">Maximum advance notice period</div>
                </td>
              </tr>
              <tr>
                <td nowrap="nowrap" style="width: 46.06%; vertical-align: top; border-top: 2px solid rgb(0, 0, 0); border-left: 2px solid rgb(0, 0, 0);">
                  <div style="line-height: 1.25;">Active Chairman of the Board, CEO</div>
                </td>
                <td nowrap="nowrap" style="width: 53.94%; vertical-align: top; border-top: 2px solid rgb(0, 0, 0); border-left: 2px solid rgb(0, 0, 0); border-right: 2px solid rgb(0, 0, 0);">
                  <div style="text-align: center; line-height: 1.25;">Up to 6 months</div>
                </td>
              </tr>
              <tr>
                <td nowrap="nowrap" style="width: 46.06%; vertical-align: top; border-top: 2px solid rgb(0, 0, 0); border-left: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0);">
                  <div style="line-height: 1.25;">other Officers</div>
                </td>
                <td nowrap="nowrap" style="width: 53.94%; vertical-align: top; border-width: 2px; border-style: solid; border-color: rgb(0, 0, 0);">
                  <div style="text-align: center; line-height: 1.25;">Up to 3 months</div>
                </td>
              </tr>

          </table>
        </div>
        <div style="text-align: justify; margin-left: 46.2pt; line-height: 1.25;"> <br>
        </div>
        <div style="text-align: justify; margin-left: 46.2pt; line-height: 1.25;">During the Advance Notice Period the Officer will be required to continue to fulfill his duties, unless the BOD (with respect to the Chairman of the Board or CEO) or the 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>
        <div class="BRPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
          <div class="BRPFPageNumberArea" style="text-align: center;"><font class="BRPFPageNumber" style="font-weight: normal; font-style: normal;">A - 16</font></div>
          <div class="BRPFPageBreak" style="page-break-after: always;">
            <hr noshade="noshade" style="border-width: 0px; clear: both; margin: 4px 0px; width: 100%; height: 2px; color: #000000; background-color: #000000;"></div>
        </div>
        <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="z644efde0db5543988e9d7bff7389111e">

            <tr>
              <td style="width: 18pt; vertical-align: top; font-weight: bold;">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: 17.85pt; 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;</div>
        <div style="margin-left: 18pt;">
          <table cellspacing="0" cellpadding="2" border="0" style="width: 90%; color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; text-align: left;" id="zc88586fcada740fa90e7201bfd595472">

              <tr>
                <td rowspan="2" style="width: 28.48%; vertical-align: top; border-top: 2px solid rgb(0, 0, 0); border-left: 2px solid rgb(0, 0, 0);">
                  <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;"> <br>
                  </div>
                  <div style="text-align: center; line-height: 1.25; font-weight: bold;">Officer</div>
                </td>
                <td colspan="2" style="width: 71.52%; vertical-align: top; border-top: 2px solid rgb(0, 0, 0); border-left: 2px solid rgb(0, 0, 0); border-right: 2px solid rgb(0, 0, 0);">&#160;</td>
              </tr>
              <tr>
                <td style="width: 34.46%; vertical-align: top; border-top: 2px solid rgb(0, 0, 0); border-left: 2px solid rgb(0, 0, 0); font-weight: bold;">
                  <div style="text-align: center; line-height: 1.25;">Ratio of the fixed elements<sup style="font-weight: bold; vertical-align: text-top; line-height: 1; font-size: smaller;">12</sup> </div>
                  <div style="text-align: center; line-height: 1.25;">to the total Compensation (%)</div>
                </td>
                <td style="width: 37.06%; vertical-align: top; border-top: 2px solid rgb(0, 0, 0); border-left: 2px solid rgb(0, 0, 0); border-right: 2px solid rgb(0, 0, 0); font-weight: bold;">
                  <div style="text-align: center; line-height: 1.25;">Ratio of the variable elements<sup style="font-weight: bold; vertical-align: text-top; line-height: 1; font-size: smaller;">13</sup><sup style="font-weight: bold; vertical-align: text-top; line-height: 1; font-size: smaller;">&#160;</sup></div>
                  <div style="text-align: center; line-height: 1.25;"><sup style="font-weight: bold; vertical-align: text-top; line-height: 1; font-size: smaller;"></sup>to the total Compensation (%)</div>
                </td>
              </tr>
              <tr>
                <td style="width: 28.48%; vertical-align: top; border-top: 2px solid rgb(0, 0, 0); border-left: 2px solid rgb(0, 0, 0);">
                  <div style="line-height: 1.25;">Active Chairman of the Board</div>
                </td>
                <td style="width: 34.46%; vertical-align: top; border-top: 2px solid rgb(0, 0, 0); border-left: 2px solid rgb(0, 0, 0);">
                  <div style="text-align: center; line-height: 1.25;">45-100</div>
                </td>
                <td style="width: 37.06%; vertical-align: top; border-top: 2px solid rgb(0, 0, 0); border-left: 2px solid rgb(0, 0, 0); border-right: 2px solid rgb(0, 0, 0);">
                  <div style="text-align: center; line-height: 1.25;">0-55</div>
                </td>
              </tr>
              <tr>
                <td style="width: 28.48%; vertical-align: top; border-top: 2px solid rgb(0, 0, 0); border-left: 2px solid rgb(0, 0, 0);">
                  <div style="line-height: 1.25;">CEO</div>
                </td>
                <td style="width: 34.46%; vertical-align: top; border-top: 2px solid rgb(0, 0, 0); border-left: 2px solid rgb(0, 0, 0);">
                  <div style="text-align: center; line-height: 1.25;">45-100</div>
                </td>
                <td style="width: 37.06%; vertical-align: top; border-top: 2px solid rgb(0, 0, 0); border-left: 2px solid rgb(0, 0, 0); border-right: 2px solid rgb(0, 0, 0);">
                  <div style="text-align: center; line-height: 1.25;">0-55</div>
                </td>
              </tr>
              <tr>
                <td style="width: 28.48%; vertical-align: top; border-top: 2px solid rgb(0, 0, 0); border-left: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0);">
                  <div style="line-height: 1.25;">Deputy CEO, Vice Presidents and other Officers</div>
                </td>
                <td style="width: 34.46%; vertical-align: top; border-top: 2px solid rgb(0, 0, 0); border-left: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0);">
                  <div style="text-align: center; line-height: 1.25;">52-100</div>
                </td>
                <td style="width: 37.06%; vertical-align: top; border-width: 2px; border-style: solid; border-color: rgb(0, 0, 0);">
                  <div style="text-align: center; line-height: 1.25;">0-48</div>
                </td>
              </tr>

          </table>
        </div>
        <div style="text-align: justify; margin-left: 17.85pt; line-height: 1.25;"> <br>
        </div>
        <div style="text-align: justify; margin-left: 17.85pt; 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 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>
        <div style="line-height: 1.25"><br>
          <hr noshade="noshade" align="left" style="background-color: #000000; border: 0px; height: 1px; width: 2in; margin-left: 0pt; margin-right: auto; color: #000000;"><br>
        </div>
        <div style="line-height: 1.25">
          <div>
            <table cellspacing="0" cellpadding="0" class="DSPFListTable" id="z5f5b15a3e69347ec899098a9c74a036b" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%;">

                <tr style="vertical-align: top;">
                  <td style="text-align: left; vertical-align: top; width: 18pt;"><font style="font-weight: bold;"><sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">12</sup></font><br>
                  </td>
                  <td style="text-align: left; 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 style="text-align: justify; line-height: 1.25;"><font style="font-family: 'Times New Roman',Times,serif;"> <br>
            </font></div>
          <div>
            <table cellspacing="0" cellpadding="0" class="DSPFListTable" id="zecea67cee5b54592b35c826a88110c8d" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%;">

                <tr style="vertical-align: top;">
                  <td style="text-align: left; vertical-align: top; width: 18pt;"><font style="font-weight: bold;"><sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">13</sup></font><br>
                  </td>
                  <td style="text-align: left; 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 5.2.7 above) 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 class="BRPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
          <div class="BRPFPageNumberArea" style="text-align: center;"><font class="BRPFPageNumber" style="font-weight: normal; font-style: normal;">A - 17</font></div>
          <div class="BRPFPageBreak" style="page-break-after: always;">
            <hr noshade="noshade" style="border-width: 0px; clear: both; margin: 4px 0px; width: 100%; height: 2px; color: #000000; background-color: #000000;"></div>
        </div>
        <div style="line-height: 1.25"> <br>
        </div>
        <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="z504f732607aa4e8dbad05c9a9cf02632">

            <tr>
              <td style="width: 18pt; vertical-align: top; font-weight: bold;">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" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="zebcc83aaf8ea49f1867fc4ebcedf3c2a">

            <tr>
              <td style="width: 17.85pt;"><br>
              </td>
              <td style="width: 28.35pt; vertical-align: top;">9.1.</td>
              <td style="width: auto; vertical-align: top; text-align: justify;">
                <div>The Compensation Committee and the 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="text-align: justify; margin-left: 46.2pt; line-height: 1.25;">Accordingly, the ratios are as follows:<sup style="font-weight: bold; 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: 45pt;">
          <table cellspacing="0" cellpadding="2" border="0" style="width: 90%; color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; text-align: left;" id="za3904993be7446e2b07d4f9fd9073170">

              <tr>
                <td style="width: 35.08%; vertical-align: top; border-top: 2px solid rgb(0, 0, 0); border-left: 2px solid rgb(0, 0, 0);">
                  <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;">Position</div>
                </td>
                <td style="width: 33.48%; vertical-align: top; border-top: 2px solid rgb(0, 0, 0); border-left: 2px solid rgb(0, 0, 0);">
                  <div style="text-align: center; line-height: 1.25; font-weight: bold;">Relationship to the average </div>
                  <div style="text-align: center; line-height: 1.25; font-weight: bold;">salary of the Company&#8217;s employees</div>
                </td>
                <td style="width: 31.44%; vertical-align: top; border-top: 2px solid rgb(0, 0, 0); border-left: 2px solid rgb(0, 0, 0); border-right: 2px solid rgb(0, 0, 0);">
                  <div style="text-align: center; line-height: 1.25; font-weight: bold;">Relationship to the mean </div>
                  <div style="text-align: center; line-height: 1.25; font-weight: bold;">salary of the Company&#8217;s employees</div>
                </td>
              </tr>
              <tr>
                <td style="width: 35.08%; vertical-align: top; border-top: 2px solid rgb(0, 0, 0); border-left: 2px solid rgb(0, 0, 0);">
                  <div style="line-height: 1.25;">Active Chairman of the Board</div>
                </td>
                <td style="width: 33.48%; vertical-align: top; border-top: 2px solid rgb(0, 0, 0); border-left: 2px solid rgb(0, 0, 0);">
                  <div style="text-align: center; line-height: 1.25;">22</div>
                </td>
                <td style="width: 31.44%; vertical-align: top; border-top: 2px solid rgb(0, 0, 0); border-left: 2px solid rgb(0, 0, 0); border-right: 2px solid rgb(0, 0, 0);">
                  <div style="text-align: center; line-height: 1.25;">25</div>
                </td>
              </tr>
              <tr>
                <td style="width: 35.08%; vertical-align: top; border-top: 2px solid rgb(0, 0, 0); border-left: 2px solid rgb(0, 0, 0);">
                  <div style="line-height: 1.25;">CEO</div>
                </td>
                <td style="width: 33.48%; vertical-align: top; border-top: 2px solid rgb(0, 0, 0); border-left: 2px solid rgb(0, 0, 0);">
                  <div style="text-align: center; line-height: 1.25;">22</div>
                </td>
                <td style="width: 31.44%; vertical-align: top; border-top: 2px solid rgb(0, 0, 0); border-left: 2px solid rgb(0, 0, 0); border-right: 2px solid rgb(0, 0, 0);">
                  <div style="text-align: center; line-height: 1.25;">25</div>
                </td>
              </tr>
              <tr>
                <td style="width: 35.08%; vertical-align: top; border-top: 2px solid rgb(0, 0, 0); border-left: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0);">
                  <div style="line-height: 1.25;">Deputy CEO, Vice Presidents and other Officers</div>
                </td>
                <td style="width: 33.48%; vertical-align: top; border-top: 2px solid rgb(0, 0, 0); border-left: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0);">
                  <div style="text-align: center; line-height: 1.25;">15</div>
                </td>
                <td style="width: 31.44%; vertical-align: top; border-width: 2px; border-style: solid; border-color: rgb(0, 0, 0);">
                  <div style="text-align: center; line-height: 1.25;">20</div>
                </td>
              </tr>

          </table>
        </div>
        <div> <br>
        </div>
        <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="z72041092bb7f4f789b43cce1314d7ade">

            <tr>
              <td style="width: 17.85pt;"><br>
              </td>
              <td style="width: 28.35pt; vertical-align: top;">9.2.</td>
              <td style="width: auto; vertical-align: top; text-align: justify;">
                <div>The Compensation Committee and the 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 style="line-height: 1.25"><br>
            <hr noshade="noshade" align="left" style="background-color: #000000; border: 0px; height: 1px; width: 2in; margin-left: 0pt; margin-right: auto; color: #000000;"><br>
          </div>
        </div>
        <div style="line-height: 1.25">
          <div>
            <table cellspacing="0" cellpadding="0" class="DSPFListTable" id="z376c998d50f949f49c1931f869b50ac4" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%;">

                <tr style="vertical-align: top;">
                  <td style="text-align: right; vertical-align: top; width: 9pt;">
                    <div style="text-align: justify; text-indent: -19.85pt; margin-left: 19.85pt; line-height: 1.25;"><font style="font-weight: bold;"><sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">14</sup></font></div>
                  </td>
                  <td style="text-align: left; vertical-align: top; width: auto;">
                    <div style="text-align: justify; text-indent: -19.85pt; margin-left: 19.85pt; line-height: 1.25;">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 class="BRPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
          <div class="BRPFPageNumberArea" style="text-align: center;"><font class="BRPFPageNumber" style="font-weight: normal; font-style: normal;">A - 18</font></div>
          <div class="BRPFPageBreak" style="page-break-after: always;">
            <hr noshade="noshade" style="border-width: 0px; clear: both; margin: 4px 0px; width: 100%; height: 2px; color: #000000; background-color: #000000;"></div>
        </div>
        <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="z9956e385b12246eebcdfb40e5580309b">

            <tr>
              <td style="width: 18pt; vertical-align: top; font-weight: bold;">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" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="zf1c9cf1abf254a84bd4fcdb33998ef58">

            <tr>
              <td style="width: 17.85pt;"><br>
              </td>
              <td style="width: 28.35pt; vertical-align: top;">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" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="z35e2521ab32344cf9d2c6d26a18dc8ff">

            <tr>
              <td style="width: 17.85pt;"><br>
              </td>
              <td style="width: 28.35pt; vertical-align: top;">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="text-align: justify; margin-left: 46.2pt; line-height: 1.25;">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" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="z340187b417b0467d845f86b4dd7c2ba5">

            <tr>
              <td style="width: 46.2pt;"><br>
              </td>
              <td style="width: 61.8pt; vertical-align: top;">10.2.1.</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" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="z3100525aaebe494090a4defa094a52aa">

            <tr>
              <td style="width: 46.2pt;"><br>
              </td>
              <td style="width: 61.8pt; vertical-align: top;">10.2.2.</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>
        <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="zf1147108c658447eae0abee2e52d2436">

            <tr>
              <td style="width: 46.2pt;"><br>
              </td>
              <td style="width: 61.8pt; vertical-align: top;">10.2.3.</td>
              <td style="width: auto; vertical-align: top; text-align: justify;">
                <div>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.</div>
              </td>
            </tr>

        </table>
        <div style="line-height: 1.25">&#160;</div>
        <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="zaa2cd4085998444caf3e938a5bb5f79e">

            <tr>
              <td style="width: 46.2pt;"><br>
              </td>
              <td style="width: 61.8pt; vertical-align: top;">10.2.4.</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" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="z3b7d5927e31d43e886d900d7fa88eb0e">

            <tr>
              <td style="width: 46.2pt;"><br>
              </td>
              <td style="width: 61.8pt; vertical-align: top;">10.2.5.</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" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="za79e87ce063b469ab5cc67857bfbd3d4">

            <tr>
              <td style="width: 46.2pt;"><br>
              </td>
              <td style="width: 61.8pt; vertical-align: top;">10.2.6.</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>
        <div class="BRPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
          <div class="BRPFPageNumberArea" style="text-align: center;"><font class="BRPFPageNumber" style="font-weight: normal; font-style: normal;">A - 19</font></div>
          <div class="BRPFPageBreak" style="page-break-after: always;">
            <hr noshade="noshade" style="border-width: 0px; clear: both; margin: 4px 0px; width: 100%; height: 2px; color: #000000; background-color: #000000;"></div>
        </div>
        <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="z8988d7a800794a7e8ffe3003ad2fb630">

            <tr>
              <td style="width: 46.2pt;"><br>
              </td>
              <td style="width: 61.8pt; vertical-align: top;">10.2.7.</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" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="z704a0059619f4462adaa56d352dd285f">

            <tr>
              <td style="width: 46.2pt;"><br>
              </td>
              <td style="width: 61.8pt; vertical-align: top;">10.2.8.</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 Clause 10.2, 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>
        <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="z88332d437d3942558eb778203d7eab6f">

            <tr>
              <td style="width: 17.85pt;"><br>
              </td>
              <td style="width: 28.35pt; vertical-align: top;">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" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="zc015e5c2c34a4f749f29ed9aa8ea4ed9">

            <tr>
              <td style="width: 46.2pt;"><br>
              </td>
              <td style="width: 61.8pt; vertical-align: top;">10.3.1.</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 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" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="z8c46efdcb736472f95a6057c43f8cb67">

            <tr>
              <td style="width: 46.2pt;"><br>
              </td>
              <td style="width: 61.8pt; vertical-align: top;">10.3.2.</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" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="za73fa37b556a489984e83234f5102880">

            <tr>
              <td style="width: 18pt; vertical-align: top; font-weight: bold;">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" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="za3180978605244dcb4075e42f16331c5">

            <tr>
              <td style="width: 17.85pt;"><br>
              </td>
              <td style="width: 28.35pt; vertical-align: top;">11.1.</td>
              <td style="width: auto; vertical-align: top; text-align: justify;">
                <div><u>Non-substantive change to the employment terms of an Officer subordinate to the CEO</u><sup style="font-weight: bold; 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="text-align: justify; margin-left: 46.2pt; line-height: 1.25;">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" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="z096e33332c3842ce8d2432159bafce64">

            <tr>
              <td style="width: 46.2pt;"><br>
              </td>
              <td style="width: 61.8pt; vertical-align: top;">11.1.1.</td>
              <td style="width: auto; vertical-align: top; text-align: justify;">
                <div>The change is approved by the CEO.</div>
              </td>
            </tr>

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

              <tr>
                <td style="width: 19.85pt; vertical-align: top; font-weight: bold;"><font style="font-weight: bold;"><sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">15</sup></font><br>
                </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 class="BRPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
          <div class="BRPFPageNumberArea" style="text-align: center;"><font class="BRPFPageNumber" style="font-weight: normal; font-style: normal;">A - 20</font></div>
          <div class="BRPFPageBreak" style="page-break-after: always;">
            <hr noshade="noshade" style="border-width: 0px; clear: both; margin: 4px 0px; width: 100%; height: 2px; color: #000000; background-color: #000000;"></div>
        </div>
        <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="z152752ffc8c54621904d6c675ef7e625">

            <tr>
              <td style="width: 46.2pt;"><br>
              </td>
              <td style="width: 61.8pt; vertical-align: top;">11.1.2.</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="text-align: justify; margin-left: 46.2pt; line-height: 1.25;">In this Clause 11.1, &#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" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="zbba309b5d550497188c9d3d959b4f573">

            <tr>
              <td style="width: 17.85pt;"><br>
              </td>
              <td style="width: 28.35pt; vertical-align: top;">11.2.</td>
              <td style="width: auto; vertical-align: top; text-align: justify;">
                <div><u>Renewal/extension of the contractual agreement with the CEO</u></div>
              </td>
            </tr>

        </table>
        <div style="line-height: 1.25">&#160;</div>
        <div style="text-align: justify; margin-left: 46.2pt; line-height: 1.25;">The Company may renew or extend the contractual agreement with the CEO, with respect to the terms of his service and employment, without obtaining approval from the General
          Assembly of the shareholders,<sup style="font-weight: bold; vertical-align: text-top; line-height: 1; font-size: smaller;">16</sup><sup style="font-weight: bold; vertical-align: text-top; line-height: 1; font-size: smaller;">&#160;</sup>as long as the following conditions are met (aggregately):</div>
        <div style="line-height: 1.25">&#160;</div>
        <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="z5ad8d129f4174252940dd3d8963096e1">

            <tr>
              <td style="width: 46.2pt;"><br>
              </td>
              <td style="width: 61.8pt; vertical-align: top;">11.2.1.</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" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="z3c651f8dcc3247238c9e189462059a3d">

            <tr>
              <td style="width: 46.2pt;"><br>
              </td>
              <td style="width: 61.8pt; vertical-align: top;">11.2.2.</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" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="zb69fef88471c4b338b6ab2cce34fdcda">

            <tr>
              <td style="width: 17.85pt;"><br>
              </td>
              <td style="width: 28.35pt; vertical-align: top;">11.3.</td>
              <td style="width: auto; vertical-align: top; text-align: justify;">
                <div><u>Approval of the contractual agreement with the CEO/Director until the date of the next General Assembly</u></div>
              </td>
            </tr>

        </table>
        <div style="line-height: 1.25">&#160;</div>
        <div style="text-align: justify; margin-left: 46.2pt; line-height: 1.25;">The Company may enter a contractual agreement with the 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" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="z993d8fd3a37a4b30b78dfc70745622d5">

            <tr>
              <td style="width: 46.2pt;"><br>
              </td>
              <td style="width: 61.8pt; vertical-align: top;">11.3.1.</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;<br>
          <hr noshade="noshade" align="left" style="background-color: #000000; border: 0px; height: 1px; width: 2in; margin-left: 0pt; margin-right: auto; color: #000000;"><br>
          <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable">

              <tr>
                <td style="width: 19.85pt; vertical-align: top; font-weight: bold;"><font style="font-weight: bold;"><sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">16</sup></font><br>
                </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 class="BRPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
          <div class="BRPFPageNumberArea" style="text-align: center;"><font class="BRPFPageNumber" style="font-weight: normal; font-style: normal;">A - 21</font></div>
          <div class="BRPFPageBreak" style="page-break-after: always;">
            <hr noshade="noshade" style="border-width: 0px; clear: both; margin: 4px 0px; width: 100%; height: 2px; color: #000000; background-color: #000000;"></div>
        </div>
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            <tr>
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              <td style="width: 61.8pt; vertical-align: top;">11.3.2.</td>
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                <div>The terms of service and employment are consistent with the Compensation Policy;</div>
              </td>
            </tr>

        </table>
        <div style="line-height: 1.25">&#160;</div>
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              <td style="width: 61.8pt; vertical-align: top;">11.3.3.</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>

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        <div style="line-height: 1.25">&#160;</div>
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            <tr>
              <td style="width: 18pt; vertical-align: top; font-weight: bold;">12.</td>
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                <div style="font-weight: bold;"><u>Miscellaneous</u></div>
              </td>
            </tr>

        </table>
        <div style="line-height: 1.25">&#160;</div>
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              <td style="width: 28.35pt; vertical-align: top;">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>
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            <tr>
              <td style="width: 17.85pt;"><br>
              </td>
              <td style="width: 28.35pt; vertical-align: top;">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>
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            <tr>
              <td style="width: 17.85pt;"><br>
              </td>
              <td style="width: 28.35pt; vertical-align: top;">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>
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            <tr>
              <td style="width: 17.85pt;"><br>
              </td>
              <td style="width: 28.35pt; vertical-align: top;">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>
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            <tr>
              <td style="width: 17.85pt;"><br>
              </td>
              <td style="width: 28.35pt; vertical-align: top; font-style: italic;">12.5.</td>
              <td style="width: auto; vertical-align: top; text-align: justify;">
                <div style="font-style: italic;">The Company has adopted a policy for recovering erroneously awarded compensation intended to comply with the requirements of the Companies Law, Section 10D of the U.S. Securities Exchange Act of 1934, Rule
                  10D-1 promulgated by the U.S. Securities and Exchange Commission thereunder, and Listing Rule 5608 of the Nasdaq&#8217;s corporate governance rules (the &#8220;<font style="font-weight: bold;">Clawback Policy</font>&#8221;). Any provision of the Clawback
                  Policy shall be deemed to comply with this Compensation Policy. In the event of any inconsistency between this Compensation Policy and the Clawback Policy, the Clawback Policy shall prevail. For the avoidance of doubt, no amendments to,
                  or further corporate approvals in connection with, this Compensation Policy will be required in connection with the adoption or amendment of the Clawback Policy.</div>
              </td>
            </tr>

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        <div style="line-height: 1.25">&#160;</div>
        <div style="line-height: 1.25">&#160;</div>
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  <div class="BRPFPageNumberArea" style="text-align: center;"><font class="BRPFPageNumber" style="font-weight: normal; font-style: normal;">A - 22</font></div>
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    <hr align="center" style="border: none; border-bottom: 4px solid black; border-top: 1px solid black; height: 10px; color: #ffffff; background-color: #ffffff; margin-left: auto; margin-right: auto;"><font class="BRPFPageNumber" style="font-weight: normal; font-style: normal;"> </font></div>
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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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<body bgcolor="#ffffff" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; text-align: left; color: #000000;">
  <font style="font-family: 'Times New Roman',Times,serif;"> </font>
  <div>
    <div style="font-family: 'Times New Roman',Times,serif;" class="BRPFPageHeader">
      <div style="line-height: 1.25; text-align: right;">
        <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;"><u><font style="font-weight: bold;">Exhibit 99.2</font></u><br style="line-height: 1.25;">
      </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-family: 'Times New Roman',Times,serif;">ELTEK LTD.</div>
    <div style="text-align: center; line-height: 1.25; font-family: 'Times New Roman',Times,serif; font-weight: bold;">PROXY FOR ANNUAL MEETING OF SHAREHOLDERS</div>
    <div style="text-align: center; line-height: 1.25; font-family: 'Times New Roman',Times,serif; font-weight: bold;">TO BE HELD September 12, 2023</div>
    <div style="text-align: center; line-height: 1.25; font-family: 'Times New Roman',Times,serif; font-weight: bold;">THIS PROXY IS SOLICITED ON BEHALF OF THE BOARD OF DIRECTORS</div>
    <div style="line-height: 1.25; font-family: 'Times New Roman',Times,serif;"><br style="line-height: 1.25;">
    </div>
    <div style="text-align: justify; line-height: 1.25; font-family: 'Times New Roman',Times,serif;">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 "<u>Company</u>"), 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 Tuesday, September 12, 2023 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; font-family: 'Times New Roman',Times,serif;"><br style="line-height: 1.25;">
    </div>
    <div style="text-align: justify; line-height: 1.25; font-family: 'Times New Roman',Times,serif; 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 3 to 5 and 7 to 11 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; font-family: 'Times New Roman',Times,serif;"><br style="line-height: 1.25;">
    </div>
    <div style="text-align: justify; line-height: 1.25; font-family: 'Times New Roman',Times,serif; 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; font-family: 'Times New Roman',Times,serif;"><br style="line-height: 1.25;">
    </div>
    <div style="text-align: center; line-height: 1.25; font-family: 'Times New Roman',Times,serif; font-weight: bold;">(Continued and to be signed on the reverse side)</div>
    <div class="BRPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
      <div class="BRPFPageBreak" style="page-break-after: always;">
        <hr noshade="noshade" style="border-width: 0px; clear: both; margin: 4px 0px; width: 100%; height: 2px; color: #000000; background-color: #000000;"></div>
    </div>
    <div style="line-height: 1.25; font-family: 'Times New Roman',Times,serif;"><br style="line-height: 1.25;">
    </div>
    <div style="text-align: center; line-height: 1.25; font-family: 'Times New Roman',Times,serif; font-weight: bold;">ANNUAL GENERAL MEETING OF SHAREHOLDERS OF</div>
    <div style="line-height: 1.25; font-family: 'Times New Roman',Times,serif;"><br style="line-height: 1.25;">
    </div>
    <div style="text-align: center; line-height: 1.25; font-family: 'Times New Roman',Times,serif; font-weight: bold;">ELTEK LTD.</div>
    <div style="line-height: 1.25; font-family: 'Times New Roman',Times,serif;"><br style="line-height: 1.25;">
    </div>
    <div style="text-align: center; line-height: 1.25; font-family: 'Times New Roman',Times,serif; font-weight: bold;">SEPTEMBER 12, 2023</div>
    <div style="line-height: 1.25; font-family: 'Times New Roman',Times,serif;"><br style="line-height: 1.25;">
    </div>
    <div style="text-align: center; line-height: 1.25; font-family: 'Times New Roman',Times,serif;">Please sign, date and mail</div>
    <div style="text-align: center; line-height: 1.25; font-family: 'Times New Roman',Times,serif;">your proxy card in the</div>
    <div style="text-align: center; line-height: 1.25; font-family: 'Times New Roman',Times,serif;">envelope provided as soon</div>
    <div style="text-align: center; line-height: 1.25; font-family: 'Times New Roman',Times,serif;">as possible.</div>
    <div style="text-align: center; line-height: 1.25; font-family: 'Times New Roman',Times,serif;"> <br>
    </div>
    <div style="line-height: 1.25; font-family: 'Times New Roman',Times,serif;">
      <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-family: 'Times New Roman',Times,serif; font-weight: bold;">THE BOARD OF DIRECTORS RECOMMENDS A VOTE &#8220;FOR&#8221; ALL PROPOSALS.</div>
    <div style="line-height: 1.25; font-family: 'Times New Roman',Times,serif;"><br style="line-height: 1.25;">
    </div>
    <div style="text-align: justify; line-height: 1.25; font-family: 'Times New Roman',Times,serif; 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;</div>
    <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 style="text-align: justify; line-height: 1.25; color: rgb(0, 0, 0); font-family: 'Times New Roman',Times,serif;"> <br>
    </div>
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        <tr>
          <td style="width: 18pt; font-family: 'Times New Roman',Times,serif;"><br>
          </td>
          <td style="width: 18pt; vertical-align: top; font-family: 'Times New Roman',Times,serif;">1.</td>
          <td style="width: auto; vertical-align: top; text-align: justify; font-family: 'Times New Roman',Times,serif;">
            <div>Proposal to re-elect Messrs. Yitzhak Nissan, Mordechai Marmorstein, David Rubner and Erez Meltzer to the Company&#8217;s Board of Directors (the &#8220;<u>Board</u>&#8221;) and to elect Ms. Revital Cohen-Tzemach to the Board, 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> <br>
    </div>
    <div>
      <table cellspacing="0" cellpadding="0" border="0" id="z529da3ee65374a00b4056b6075c7d337" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; color: #000000; width: 100%;">

          <tr>
            <td colspan="1" style="width: 45%;">
              <div style="text-align: right;">&#160;&#9744; FOR ALL NOMINEES &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160;&#160; </div>
            </td>
            <td style="width: 10%;">
              <div style="text-align: right;"><br>
              </div>
            </td>
            <td style="width: 45%;">
              <div>&#9744; WITHHOLD AUTHORITY FOR ALL NOMINEES</div>
            </td>
          </tr>

      </table>
    </div>
    <div style="text-align: center; line-height: 1.25; font-family: 'Times New Roman',Times,serif;"> &#160; &#160; &#160;&#160; <br>
    </div>
    <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="z070b44d0cb044b2a88c3ff155071ced1">

        <tr>
          <td style="width: 18pt; font-family: 'Times New Roman',Times,serif;"><br>
          </td>
          <td style="width: 18pt; vertical-align: top; font-family: 'Times New Roman',Times,serif;">2.</td>
          <td style="width: auto; vertical-align: top; text-align: justify; font-family: 'Times New Roman',Times,serif;">
            <div>Proposal to re-elect Mr. Gad Dovev for a fourth term as an external director, to hold office for three (3) years, as of October 6, 2023.</div>
          </td>
        </tr>

    </table>
    <div style="line-height: 1.25; font-family: 'Times New Roman',Times,serif;"><br style="line-height: 1.25;">
    </div>
    <div style="line-height: 1.25; font-family: 'Times New Roman',Times,serif;">
      <table cellspacing="0" cellpadding="0" border="0" id="z9a5977919ba64dd99291d032fe721464" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; color: #000000; width: 100%;">

          <tr>
            <td style="width: 33.33%;">
              <div style="text-align: right;">&#160;&#9744; FOR <br>
              </div>
            </td>
            <td style="width: 33.33%;">
              <div style="text-align: center;">&#9744; AGAINST&#160;&#160; <br>
              </div>
            </td>
            <td style="width: 33.33%;">
              <div>&#9744; ABSTAIN</div>
            </td>
          </tr>

      </table>
    </div>
    <div style="text-align: justify; margin-right: 36pt; margin-left: 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;&#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>
    </div>
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          <td style="width: 18pt; font-family: 'Times New Roman',Times,serif;"><br>
          </td>
          <td style="width: 18pt; vertical-align: top; font-family: 'Times New Roman',Times,serif;">3.</td>
          <td style="width: auto; vertical-align: top; text-align: justify; font-family: 'Times New Roman',Times,serif;">
            <div>Proposal to approve the Company&#8217;s Second Amended and Restated Compensation Policy, as described in the Proxy Statement.</div>
          </td>
        </tr>

    </table>
    <div style="line-height: 1.25; font-family: 'Times New Roman',Times,serif;"><br style="line-height: 1.25;">
    </div>
    <div style="line-height: 1.25; font-family: 'Times New Roman',Times,serif;">
      <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: 33.33%;">
                <div style="text-align: right;">&#160;&#9744; FOR <br>
                </div>
              </td>
              <td style="width: 33.33%;">
                <div style="text-align: center;">&#9744; AGAINST&#160;&#160; <br>
                </div>
              </td>
              <td style="width: 33.33%;">
                <div>&#9744; ABSTAIN</div>
              </td>
            </tr>

        </table>
      </div>
      <br>
    </div>
    <div style="text-align: justify; margin-right: 1.35pt; margin-left: 36pt; line-height: 1.25; font-family: 'Times New Roman',Times,serif; 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 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; font-family: 'Times New Roman',Times,serif;"><br style="line-height: 1.25;">
    </div>
    <div style="line-height: 1.25; font-family: 'Times New Roman',Times,serif;">
      <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: 50.00%;">
                <div style="text-align: right;">&#160;I HAVE A PERSONAL INTEREST</div>
              </td>
              <td style="width: 50.00%;">
                <div>
                  <div style="text-align: left; margin-right: 18pt; line-height: 1.25; font-family: 'Times New Roman',Times,serif;">&#160;&#160;&#160;&#160; YES &#9744;&#160; NO &#9744;</div>
                </div>
              </td>
            </tr>

        </table>
      </div>
      <div style="line-height: 1.25;"><br style="line-height: 1.25;">
      </div>
    </div>
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        <tr>
          <td style="width: 18pt; font-family: 'Times New Roman',Times,serif;"><br>
          </td>
          <td style="width: 18pt; vertical-align: top; font-family: 'Times New Roman',Times,serif;">4.</td>
          <td style="width: auto; vertical-align: top; text-align: justify; font-family: 'Times New Roman',Times,serif;">
            <div>Proposal to approve the grant of an annual bonus for the year 2022 to Ms. Revital Cohen-Tzemach, special project manager and daughter of our Controlling shareholder, as described in the Proxy Statement.</div>
          </td>
        </tr>

    </table>
    <div>
      <div style="line-height: 1.25; font-family: 'Times New Roman',Times,serif;"><br style="line-height: 1.25;">
      </div>
      <div style="line-height: 1.25; font-family: 'Times New Roman',Times,serif;">
        <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: 33.33%;">
                <div style="text-align: right;">&#160;&#9744; FOR <br>
                </div>
              </td>
              <td style="width: 33.33%;">
                <div style="text-align: center;">&#9744; AGAINST&#160;&#160; <br>
                </div>
              </td>
              <td style="width: 33.33%;">
                <div>&#9744; ABSTAIN</div>
              </td>
            </tr>

        </table>
      </div>
    </div>
    <div style="text-align: center; margin-right: 36pt; line-height: 1.25; font-family: 'Times New Roman',Times,serif;">
      <div style="line-height: 1.25;"><br style="line-height: 1.25;">
      </div>
    </div>
    <div style="text-align: justify; margin-right: 1.35pt; margin-left: 36pt; line-height: 1.25; font-family: 'Times New Roman',Times,serif; 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 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; font-family: 'Times New Roman',Times,serif;"><br style="line-height: 1.25;">
    </div>
    <div style="line-height: 1.25; font-family: 'Times New Roman',Times,serif;">
      <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: 50.00%;">
                <div style="text-align: right;">&#160;I HAVE A PERSONAL INTEREST</div>
              </td>
              <td style="width: 50.00%;">
                <div>
                  <div style="text-align: left; margin-right: 18pt; line-height: 1.25; font-family: 'Times New Roman',Times,serif;">&#160;&#160;&#160;&#160; YES &#9744;&#160; NO &#9744;</div>
                </div>
              </td>
            </tr>

        </table>
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      <div style="line-height: 1.25;"><br style="line-height: 1.25;">
      </div>
      <div class="BRPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
        <div class="BRPFPageBreak" style="page-break-after: always;">
          <hr noshade="noshade" style="border-width: 0px; clear: both; margin: 4px 0px; width: 100%; height: 2px; color: #000000; background-color: #000000;"></div>
      </div>
    </div>
    <div> <br>
    </div>
    <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="z0a8c4920cd814b9a9c61eef2a5a2cd50">

        <tr>
          <td style="width: 18pt; font-family: 'Times New Roman',Times,serif;"><br>
          </td>
          <td style="width: 18pt; vertical-align: top; font-family: 'Times New Roman',Times,serif;">5.</td>
          <td style="width: auto; vertical-align: top; text-align: justify; font-family: 'Times New Roman',Times,serif;">
            <div>Proposal to ratify and approve the extension of the Company&#8217;s employment of Ms. Revital Cohen-Tzemach, daughter of our Controlling shareholder, in the position of special project manager, as described in the Proxy Statement.</div>
          </td>
        </tr>

    </table>
    <div>
      <div style="line-height: 1.25; font-family: 'Times New Roman',Times,serif;"><br style="line-height: 1.25;">
      </div>
      <div style="line-height: 1.25; font-family: 'Times New Roman',Times,serif;">
        <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: 33.33%;">
                <div style="text-align: right;">&#160;&#9744; FOR <br>
                </div>
              </td>
              <td style="width: 33.33%;">
                <div style="text-align: center;">&#9744; AGAINST&#160;&#160; <br>
                </div>
              </td>
              <td style="width: 33.33%;">
                <div>&#9744; ABSTAIN</div>
              </td>
            </tr>

        </table>
      </div>
      <div style="line-height: 1.25; font-family: 'Times New Roman',Times,serif;"><br style="line-height: 1.25;">
      </div>
    </div>
    <div style="text-align: justify; margin-right: 1.35pt; margin-left: 36pt; line-height: 1.25; font-family: 'Times New Roman',Times,serif; 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 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: justify; margin-right: 1.35pt; margin-left: 36pt; line-height: 1.25; font-family: 'Times New Roman',Times,serif;"><br style="line-height: 1.25;">
    </div>
    <div style="line-height: 1.25; font-family: 'Times New Roman',Times,serif;">
      <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: 50.00%;">
                <div style="text-align: right;">&#160;I HAVE A PERSONAL INTEREST</div>
              </td>
              <td style="width: 50.00%;">
                <div>
                  <div style="text-align: left; margin-right: 18pt; line-height: 1.25; font-family: 'Times New Roman',Times,serif;">&#160;&#160;&#160;&#160; YES &#9744;&#160; NO &#9744;</div>
                </div>
              </td>
            </tr>

        </table>
      </div>
      <div style="line-height: 1.25;"><br style="line-height: 1.25;">
      </div>
    </div>
    <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="z2f8b34d556fb49c18308a0e0e9a4a1f3">

        <tr>
          <td style="width: 18pt; font-family: 'Times New Roman',Times,serif;"><br>
          </td>
          <td style="width: 18pt; vertical-align: top; font-family: 'Times New Roman',Times,serif;">6.</td>
          <td style="width: auto; vertical-align: top; text-align: justify; font-family: 'Times New Roman',Times,serif;">
            <div>Proposal to approve the grant of options to the Company&#8217;s directors (including the external directors, but excluding our Controlling shareholder and Chairman of the Board, Mr. Yitzhak Nissan, and his daughter, Ms. Revital Cohen-Tzemach),
              as described in the Proxy Statement.</div>
          </td>
        </tr>

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

            <tr>
              <td style="width: 33.33%;">
                <div style="text-align: right;">&#160;&#9744; FOR <br>
                </div>
              </td>
              <td style="width: 33.33%;">
                <div style="text-align: center;">&#9744; AGAINST&#160;&#160; <br>
                </div>
              </td>
              <td style="width: 33.33%;">
                <div>&#9744; ABSTAIN</div>
              </td>
            </tr>

        </table>
      </div>
      <div style="line-height: 1.25;"><br style="line-height: 1.25;">
      </div>
    </div>
    <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="z6f07219d0b984d2ca0c9904fadb11960">

        <tr>
          <td style="width: 18pt; font-family: 'Times New Roman',Times,serif;"><br>
          </td>
          <td style="width: 18pt; vertical-align: top; font-family: 'Times New Roman',Times,serif;">7.</td>
          <td style="width: auto; vertical-align: top; text-align: justify; font-family: 'Times New Roman',Times,serif;">
            <div>Proposal to approve the grant of options to Mr. Eli Yaffe, the Company&#8217;s Chief Executive Officer, as described in the Proxy Statement.</div>
          </td>
        </tr>

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

            <tr>
              <td style="width: 33.33%;">
                <div style="text-align: right;">&#160;&#9744; FOR <br>
                </div>
              </td>
              <td style="width: 33.33%;">
                <div style="text-align: center;">&#9744; AGAINST&#160;&#160; <br>
                </div>
              </td>
              <td style="width: 33.33%;">
                <div>&#9744; ABSTAIN</div>
              </td>
            </tr>

        </table>
      </div>
      <div style="line-height: 1.25;"><br style="line-height: 1.25;">
      </div>
    </div>
    <div style="text-align: justify; margin-right: 1.35pt; margin-left: 36pt; line-height: 1.25; font-family: 'Times New Roman',Times,serif; 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 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: justify; margin-right: 1.35pt; margin-left: 36pt; line-height: 1.25; font-family: 'Times New Roman',Times,serif;"><br style="line-height: 1.25;">
    </div>
    <div style="line-height: 1.25; font-family: 'Times New Roman',Times,serif;">
      <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: 50.00%;">
                <div style="text-align: right;">&#160;I HAVE A PERSONAL INTEREST</div>
              </td>
              <td style="width: 50.00%;">
                <div>
                  <div style="text-align: left; margin-right: 18pt; line-height: 1.25; font-family: 'Times New Roman',Times,serif;">&#160;&#160;&#160;&#160; YES &#9744;&#160; NO &#9744;</div>
                </div>
              </td>
            </tr>

        </table>
      </div>
      <div style="line-height: 1.25;"><br style="line-height: 1.25;">
      </div>
    </div>
    <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="z62c2f58653ff488a82f8334fef73a008">

        <tr>
          <td style="width: 18pt; font-family: 'Times New Roman',Times,serif;"><br>
          </td>
          <td style="width: 18pt; vertical-align: top; font-family: 'Times New Roman',Times,serif;">8.</td>
          <td style="width: auto; vertical-align: top; font-family: 'Times New Roman',Times,serif;">
            <div>Proposal to approve the grant of options to Ms. Revital Cohen-Tzemach, special project manager and daughter of our Controlling shareholder, as described in the Proxy Statement.</div>
          </td>
        </tr>

    </table>
    <div style="line-height: 1.25; font-family: 'Times New Roman',Times,serif;"><br style="line-height: 1.25;">
    </div>
    <div style="text-align: center; margin-right: 36pt; line-height: 1.25; font-family: 'Times New Roman',Times,serif;">
      <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: 33.33%;">
                <div style="text-align: right;">&#160;&#9744; FOR <br>
                </div>
              </td>
              <td style="width: 33.33%;">
                <div style="text-align: center;">&#9744; AGAINST&#160;&#160; <br>
                </div>
              </td>
              <td style="width: 33.33%;">
                <div>&#9744; ABSTAIN</div>
              </td>
            </tr>

        </table>
      </div>
    </div>
    <div style="line-height: 1.25; font-family: 'Times New Roman',Times,serif;"><br style="line-height: 1.25;">
    </div>
    <div style="text-align: justify; margin-right: 1.35pt; margin-left: 36pt; line-height: 1.25; font-family: 'Times New Roman',Times,serif; 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 8, by marking an &#8220;X&#8221; in 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; font-family: 'Times New Roman',Times,serif;">
      <div style="line-height: 1.25;"><br style="line-height: 1.25;">
      </div>
      <div style="line-height: 1.25;">
        <table cellspacing="0" cellpadding="0" border="0" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; color: #000000; width: 100%;">

            <tr>
              <td style="width: 50.00%;">
                <div style="text-align: right;">&#160;I HAVE A PERSONAL INTEREST</div>
              </td>
              <td style="width: 50.00%;">
                <div>
                  <div style="text-align: left; margin-right: 18pt; line-height: 1.25; font-family: 'Times New Roman',Times,serif;">&#160;&#160;&#160;&#160; YES &#9744;&#160; NO &#9744;</div>
                </div>
              </td>
            </tr>

        </table>
      </div>
      <div style="line-height: 1.25;"><br style="line-height: 1.25;">
      </div>
    </div>
    <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="zac577811d60140c5a25d8656fe0c64be">

        <tr>
          <td style="width: 18pt; font-family: 'Times New Roman',Times,serif;"><br>
          </td>
          <td style="width: 18pt; vertical-align: top; font-family: 'Times New Roman',Times,serif;">9.</td>
          <td style="width: auto; vertical-align: top; text-align: justify; font-family: 'Times New Roman',Times,serif;">
            <div>Proposal to approve the issuance of an exculpation letter to Ms. Revital Cohen-Tzemach, as described in the Proxy Statement.</div>
          </td>
        </tr>

    </table>
    <div style="line-height: 1.25; font-family: 'Times New Roman',Times,serif;"><br style="line-height: 1.25;">
    </div>
    <div style="text-align: center; margin-right: 36pt; line-height: 1.25; font-family: 'Times New Roman',Times,serif;">
      <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: 33.33%;">
                <div style="text-align: right;">&#160;&#9744; FOR <br>
                </div>
              </td>
              <td style="width: 33.33%;">
                <div style="text-align: center;">&#9744; AGAINST&#160;&#160; <br>
                </div>
              </td>
              <td style="width: 33.33%;">
                <div>&#9744; ABSTAIN</div>
              </td>
            </tr>

        </table>
      </div>
      <div style="line-height: 1.25;"><br style="line-height: 1.25;">
      </div>
    </div>
    <div style="text-align: justify; margin-right: 1.35pt; margin-left: 36pt; line-height: 1.25; font-family: 'Times New Roman',Times,serif; 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 9, by marking an &#8220;X&#8221; in 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; font-family: 'Times New Roman',Times,serif;">
      <div style="line-height: 1.25;"><br style="line-height: 1.25;">
      </div>
      <div style="line-height: 1.25;">
        <table cellspacing="0" cellpadding="0" border="0" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; color: #000000; width: 100%;">

            <tr>
              <td style="width: 50.00%;">
                <div style="text-align: right;">&#160;I HAVE A PERSONAL INTEREST</div>
              </td>
              <td style="width: 50.00%;">
                <div>
                  <div style="text-align: left; margin-right: 18pt; line-height: 1.25; font-family: 'Times New Roman',Times,serif;">&#160;&#160;&#160;&#160; YES &#9744;&#160; NO &#9744;</div>
                </div>
              </td>
            </tr>

        </table>
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      <div style="line-height: 1.25;"><br style="line-height: 1.25;">
      </div>
      <div class="BRPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
        <div class="BRPFPageBreak" style="page-break-after: always;">
          <hr noshade="noshade" style="border-width: 0px; clear: both; margin: 4px 0px; width: 100%; height: 2px; color: #000000; background-color: #000000;"></div>
      </div>
    </div>
    <div> <br>
    </div>
    <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="zade97286a08e4c42ab9d4cf4b078ed51">

        <tr>
          <td style="width: 18pt; font-family: 'Times New Roman',Times,serif;"><br>
          </td>
          <td style="width: 18pt; vertical-align: top; font-family: 'Times New Roman',Times,serif;">10.</td>
          <td style="width: auto; vertical-align: top; text-align: justify; font-family: 'Times New Roman',Times,serif;">
            <div>Proposal to approve the issuance of an indemnification letter to Ms. Revital Cohen-Tzemach, as described in the Proxy Statement.</div>
          </td>
        </tr>

    </table>
    <div style="text-align: center; margin-right: 36pt; line-height: 1.25; font-family: 'Times New Roman',Times,serif;">
      <div style="line-height: 1.25;"><br style="line-height: 1.25;">
      </div>
      <div style="line-height: 1.25;">
        <table cellspacing="0" cellpadding="0" border="0" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; color: #000000; width: 100%;">

            <tr>
              <td style="width: 33.33%;">
                <div style="text-align: right;">&#160;&#9744; FOR <br>
                </div>
              </td>
              <td style="width: 33.33%;">
                <div style="text-align: center;">&#9744; AGAINST&#160;&#160; <br>
                </div>
              </td>
              <td style="width: 33.33%;">
                <div>&#9744; ABSTAIN</div>
              </td>
            </tr>

        </table>
      </div>
    </div>
    <div style="line-height: 1.25; font-family: 'Times New Roman',Times,serif;"><br style="line-height: 1.25;">
    </div>
    <div style="text-align: justify; margin-right: 1.35pt; margin-left: 36pt; line-height: 1.25; font-family: 'Times New Roman',Times,serif; 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 10, by marking an &#8220;X&#8221; in 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; font-family: 'Times New Roman',Times,serif;">
      <div style="line-height: 1.25;"><br style="line-height: 1.25;">
      </div>
      <div style="line-height: 1.25;">
        <table cellspacing="0" cellpadding="0" border="0" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; color: #000000; width: 100%;">

            <tr>
              <td style="width: 50.00%;">
                <div style="text-align: right;">&#160;I HAVE A PERSONAL INTEREST</div>
              </td>
              <td style="width: 50.00%;">
                <div>
                  <div style="text-align: left; margin-right: 18pt; line-height: 1.25; font-family: 'Times New Roman',Times,serif;">&#160;&#160;&#160;&#160; YES &#9744;&#160; NO &#9744;</div>
                </div>
              </td>
            </tr>

        </table>
      </div>
      <div style="line-height: 1.25;"><br style="line-height: 1.25;">
      </div>
    </div>
    <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="z9150d7e53f12438a82fb3e3ccd10ffe9">

        <tr>
          <td style="width: 18pt; font-family: 'Times New Roman',Times,serif;"><br>
          </td>
          <td style="width: 18pt; vertical-align: top; font-family: 'Times New Roman',Times,serif;">11.</td>
          <td style="width: auto; vertical-align: top; text-align: justify; font-family: 'Times New Roman',Times,serif;">
            <div>Proposal to approve a determination regarding the vesting and exercisability of options granted to Ms. Revital Cohen-Tzemach, as described in the Proxy Statement.</div>
          </td>
        </tr>

    </table>
    <div style="line-height: 1.25; font-family: 'Times New Roman',Times,serif;"><br style="line-height: 1.25;">
    </div>
    <div style="text-align: center; margin-right: 36pt; line-height: 1.25; font-family: 'Times New Roman',Times,serif;">
      <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: 33.33%;">
                <div style="text-align: right;">&#160;&#9744; FOR <br>
                </div>
              </td>
              <td style="width: 33.33%;">
                <div style="text-align: center;">&#9744; AGAINST&#160;&#160; <br>
                </div>
              </td>
              <td style="width: 33.33%;">
                <div>&#9744; ABSTAIN</div>
              </td>
            </tr>

        </table>
      </div>
      <div style="line-height: 1.25;"><br style="line-height: 1.25;">
      </div>
    </div>
    <div style="text-align: justify; margin-right: 1.35pt; margin-left: 36pt; line-height: 1.25; font-family: 'Times New Roman',Times,serif; 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 11, by marking an &#8220;X&#8221; in 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; font-family: 'Times New Roman',Times,serif;"><br style="line-height: 1.25;">
    </div>
    <div style="line-height: 1.25; font-family: 'Times New Roman',Times,serif;">
      <table cellspacing="0" cellpadding="0" border="0" id="z7b741554a30c49a1b83a52dc4caaab66" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; color: #000000; width: 100%;">

          <tr>
            <td style="width: 50.00%;">
              <div style="text-align: right;">&#160;I HAVE A PERSONAL INTEREST</div>
            </td>
            <td style="width: 50.00%;">
              <div>
                <div style="text-align: left; margin-right: 18pt; line-height: 1.25; font-family: 'Times New Roman',Times,serif;">&#160;&#160;&#160;&#160; YES &#9744;&#160; NO &#9744;</div>
              </div>
            </td>
          </tr>

      </table>
    </div>
    <div style="line-height: 1.25; font-family: 'Times New Roman',Times,serif;"><br style="line-height: 1.25;">
    </div>
    <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="zc63effa48ecb4829886e75a3e356afbb">

        <tr>
          <td style="width: 18pt; font-family: 'Times New Roman',Times,serif;"><br>
          </td>
          <td style="width: 18pt; vertical-align: top; font-family: 'Times New Roman',Times,serif;">12.</td>
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            <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, 2023 and for such additional period until the next annual general
              meeting of shareholders, and to authorize the Board to approve their compensation.</div>
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                <div style="text-align: center;">&#9744; AGAINST&#160;&#160; <br>
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                <div>&#9744; ABSTAIN</div>
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    <div style="text-align: justify; margin-right: 1.35pt; margin-left: 36pt; line-height: 1.25; font-family: 'Times New Roman',Times,serif; 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 votes will not be counted:</div>
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                <div style="text-align: justify; line-height: 1.25; font-family: 'Times New Roman',Times,serif;">Controlling shareholder&#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160;&#160; <br>
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              <div>&#9744;</div>
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              <div style="text-align: justify; line-height: 1.25; font-family: 'Times New Roman',Times,serif;">Senior officer&#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160;&#160; <br>
              </div>
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            <td rowspan="1" style="width: 80%;">&#9744;</td>
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            <td rowspan="1" style="width: 20%;">
              <div style="text-align: justify; line-height: 1.25; font-family: 'Times New Roman',Times,serif;">Israeli Institutional Investor&#160; &#160; &#160; &#160; &#160; &#160;&#160; <br>
              </div>
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            <td rowspan="1" style="width: 80%;">&#9744;</td>
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          <tr>
            <td rowspan="1" style="width: 20%;">None of the foregoing&#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; </td>
            <td rowspan="1" style="width: 80%;">&#9744;</td>
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    <div style="text-align: center; line-height: 1.25; font-family: 'Times New Roman',Times,serif; font-weight: bold;">Please sign, date and return the card promptly in the accompanying envelope.</div>
    <div style="text-align: center; line-height: 1.25; font-family: 'Times New Roman',Times,serif; font-weight: bold;"> <br>
    </div>
    <div style="line-height: 1.25; font-family: 'Times New Roman',Times,serif;"><br style="line-height: 1.25;">
    </div>
    <div style="line-height: 1.25; font-family: 'Times New Roman',Times,serif;">
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              <div>Signature of Shareholder</div>
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              <div>Date:&#160; </div>
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            <td style="width: 20%; border-top: 2px solid rgb(0, 0, 0);">
              <div>Signature of Shareholder</div>
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            <td colspan="1" style="width: 5%;">&#160;</td>
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              <div>Date:&#160; </div>
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            <td colspan="1" style="width: 5%;">&#160;</td>
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    <div style="text-align: justify; line-height: 1.25; font-family: ArialMT, Arial, serif; font-size: 11pt;"><font style="font-family: 'Times New Roman',Times,serif; font-size: 10pt; font-weight: bold;">Note: </font><font style="font-family: 'Times New Roman',Times,serif; font-size: 10pt;">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.</font></div>
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