<SEC-DOCUMENT>0001178913-22-001236.txt : 20220323
<SEC-HEADER>0001178913-22-001236.hdr.sgml : 20220323
<ACCEPTANCE-DATETIME>20220323164850
ACCESSION NUMBER:		0001178913-22-001236
CONFORMED SUBMISSION TYPE:	6-K
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20220323
FILED AS OF DATE:		20220323
DATE AS OF CHANGE:		20220323

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			ICL Group Ltd.
		CENTRAL INDEX KEY:			0000941221
		STANDARD INDUSTRIAL CLASSIFICATION:	AGRICULTURE CHEMICALS [2870]
		IRS NUMBER:				000000000
		STATE OF INCORPORATION:			L3
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		6-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-13742
		FILM NUMBER:		22763703

	BUSINESS ADDRESS:	
		STREET 1:		MILLENNIUM TOWER
		STREET 2:		23 ARANHA STREET, P.O. BOX 20245
		CITY:			TEL AVIV
		STATE:			L3
		ZIP:			61202
		BUSINESS PHONE:		(972-3) 684-4400

	MAIL ADDRESS:	
		STREET 1:		MILLENNIUM TOWER
		STREET 2:		23 ARANHA STREET, P.O. BOX 20245
		CITY:			TEL AVIV
		STATE:			L3
		ZIP:			61202

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	ISRAEL CHEMICALS LTD
		DATE OF NAME CHANGE:	19950314
</SEC-HEADER>
<DOCUMENT>
<TYPE>6-K
<SEQUENCE>1
<FILENAME>zk2227530.htm
<DESCRIPTION>6-K
<TEXT>
<html>
  <head>
    <title></title>
    <!-- Licensed to: Z-K GLOBAL
         Document created using EDGARfilings PROfile 8.1.0.0
         Copyright 1995 - 2022 Broadridge -->
  </head>
<body bgcolor="#ffffff" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; text-align: left; color: #000000;">
  <div>
    <hr align="center" style="border: none; border-bottom: 1px solid black; border-top: 4px solid black; height: 10px; color: #ffffff; background-color: #ffffff; text-align: center; margin-left: auto; margin-right: auto;">
    <div>
      <div id="DSPFPageHeader">
        <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; font-size: 14pt; font-weight: bold; background-color: rgb(255, 255, 255); color: rgb(0, 0, 0); font-style: normal; font-variant: normal; text-transform: none;">UNITED STATES</div>
      <div style="text-align: center; line-height: 1.25; font-family: 'Times New Roman',Times,serif; font-size: 14pt; font-weight: bold; background-color: rgb(255, 255, 255); color: rgb(0, 0, 0); font-style: normal; font-variant: normal; text-transform: none;">SECURITIES AND EXCHANGE COMMISSION</div>
      <div style="text-align: center; line-height: 1.25; font-weight: bold;">Washington, D.C. 20549</div>
      <div style="text-align: center; text-indent: -6.85pt; margin-left: 6.85pt; line-height: 1.25; font-weight: bold;">&#160;</div>
      <div style="text-align: center; line-height: 1.25; font-family: 'Times New Roman',Times,serif; font-size: 14pt; font-weight: bold; background-color: rgb(255, 255, 255); color: rgb(0, 0, 0); font-style: normal; font-variant: normal; text-transform: none;">FORM 6-K</div>
      <div style="text-align: center; text-indent: -6.85pt; margin-left: 6.85pt; line-height: 1.25;">&#160;</div>
      <div style="text-align: center; text-indent: -6.85pt; margin-left: 6.85pt; line-height: 1.25; font-weight: bold;">REPORT OF FOREIGN PRIVATE ISSUER PURSUANT TO RULE 13a-16 OR 15d-16 UNDER</div>
      <div style="text-align: center; text-indent: -6.85pt; margin-left: 6.85pt; line-height: 1.25; font-weight: bold;">THE SECURITIES EXCHANGE ACT OF 1934</div>
      <div style="text-align: center; text-indent: -6.85pt; margin-left: 6.85pt; line-height: 1.25;">&#160;</div>
      <div style="text-align: center; line-height: 1.25;">For the month of March 2022</div>
      <div style="text-align: center; line-height: 1.25; font-family: 'Times New Roman', serif; font-size: 1pt;">&#160;</div>
      <div style="line-height: 1.25">&#160;</div>
      <div style="text-align: center; line-height: 1.25; font-weight: bold;">Commission File Number: 001-13742</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; font-size: 16pt; font-weight: bold; background-color: rgb(255, 255, 255); color: rgb(0, 0, 0); font-style: normal; font-variant: normal; text-transform: none;">ICL GROUP LTD.</div>
      <div style="text-align: center; line-height: 1.25; font-weight: bold;">(Exact name of registrant as specified in its charter)</div>
      <div style="text-align: center; line-height: 1.25;">&#160;</div>
      <div style="text-align: center; line-height: 1.25; font-weight: bold;">ICL Group Ltd.</div>
      <div style="text-align: center; line-height: 1.25; font-weight: bold;">Millennium Tower</div>
      <div style="text-align: center; line-height: 1.25; font-weight: bold;">23 Aranha Street</div>
      <div style="text-align: center; line-height: 1.25; font-weight: bold;">P.O. Box 20245</div>
      <div style="text-align: center; line-height: 1.25; font-weight: bold;">Tel Aviv, 61202 Israel</div>
      <div style="text-align: center; line-height: 1.25; font-weight: bold;">(972-3) 684-4400</div>
      <div style="text-align: center; line-height: 1.25; font-weight: bold;">(Address of principal executive office)</div>
      <div style="text-align: center; line-height: 1.25;">&#160;</div>
      <div style="text-align: center; line-height: 1.25;">Indicate by check mark whether the registrant files or will file annual reports under cover of Form&#160;20-F or Form 40-F:</div>
      <div style="text-align: center; line-height: 1.25;">&#160;&#160; </div>
      <div style="text-align: center; line-height: 1.25;"><font style="font-family: 'Times New Roman',Times,serif;">Form 20-F &#9746;<font class="HorizontalTab" style="width: 9pt; font-size: 1px; display: inline-block;"> </font>Form 40-F &#9744;</font></div>
      <div style="text-align: center; line-height: 1.25;">&#160;</div>
      <div style="text-align: center; line-height: 1.25;">Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation&#160;S-T&#160;Rule&#160;101(b)(1):</div>
      <div style="text-align: center; line-height: 1.25;">&#160;</div>
      <div style="line-height: 1.25;">
        <div style="text-align: center; line-height: 1.25;"><font style="font-family: 'Times New Roman',Times,serif;">Yes &#9744;<font class="HorizontalTab" style="width: 9pt; font-size: 1px; display: inline-block;">&#160; </font>No &#9746;</font></div>
      </div>
      <div style="text-align: center; line-height: 1.25;">&#160;</div>
      <div style="text-align: center; line-height: 1.25;">Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation&#160;S-T&#160;Rule&#160;101(b)(7):</div>
      <div style="text-align: center; line-height: 1.25;">&#160;</div>
      <div style="line-height: 1.25;">
        <div style="text-align: center; line-height: 1.25;">
          <div style="line-height: 1.25;">
            <div style="line-height: 1.25;"><font style="font-family: 'Times New Roman',Times,serif;">Yes &#9744;<font class="HorizontalTab" style="width: 9pt; font-size: 1px; display: inline-block;">&#160; </font>No &#9746;</font></div>
          </div>
          <font style="font-family: 'Times New Roman',Times,serif;"></font></div>
      </div>
      <div style="text-align: center; line-height: 1.25;">&#160;</div>
      <div id="DSPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
        <div id="DSPFPageBreak" style="page-break-after: always;">
          <hr noshade="noshade" style="border-width: 0px; clear: both; margin: 4px 0px; width: 100%; height: 2px; color: #000000; background-color: #000000;"></div>
      </div>
      <!--PROfilePageNumberReset%Num%2%%%-->
      <div style="text-align: center; line-height: 1.25; font-family: 'Times New Roman', serif; font-size: 1pt;">&#160;</div>
      <div style="line-height: 1.25">&#160;</div>
      <div style="text-align: center; line-height: 1.25;">&#160;<font style="font-weight: bold;">ICL GROUP LTD.</font></div>
      <div style="text-align: center; line-height: 1.25;">&#160;</div>
      <div style="text-align: center; line-height: 1.25;">&#160;<font style="font-weight: bold;">INCORPORATION BY REFERENCE</font></div>
      <div style="text-align: center; line-height: 1.25;">&#160;</div>
      <div style="line-height: 1.25;">This report on Form 6-K shall be deemed to be incorporated by reference into the registration statement on Form S-8 (Registration Number: 333-205518) of ICL Group Ltd. (formerly Israel Chemicals Ltd.) and to be a part
        thereof from the date on which this report is filed, to the extent not superseded by documents or reports subsequently filed or furnished. In addition, this report on Form 6-K shall be deemed to be incorporated by reference into the Israeli Shelf
        Prospectus of ICL Group Ltd. (formerly Israel Chemicals Ltd.) filed with the Israel Securities Authority and dated February 28, 2022 (Filing Number: 2022-02-019821) and to be a part thereof from the date on which this report is filed, to the extent
        not superseded by documents or reports subsequently filed or furnished.</div>
      <div style="line-height: 1.25;"><br style="line-height: 1.25;">
      </div>
      <div id="DSPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
        <div id="DSPFPageNumberArea" style="text-align: center;"><font id="DSPFPageNumber" style="font-weight: normal; font-style: normal;">2</font></div>
        <div id="DSPFPageBreak" style="page-break-after: always;">
          <hr noshade="noshade" style="border-width: 0px; clear: both; margin: 4px 0px; width: 100%; height: 2px; color: #000000; background-color: #000000;"></div>
      </div>
      <div style="text-align: center; line-height: 1.25; font-weight: bold;">ICL GROUP LTD.</div>
      <div style="text-align: center; line-height: 1.25;">&#160;</div>
      <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" id="zd1297f99dac84d4db9a9547ac066a421">

          <tr>
            <td style="width: 4.01%; vertical-align: top;">
              <div style="line-height: 1.25;">1.</div>
            </td>
            <td style="width: 95.99%; vertical-align: top;">
              <div style="line-height: 1.25;">Updates to the Company's New Compensation Policy ahead of ICL's 2022 Annual General Meeting to be held on March 30, 2022.</div>
            </td>
          </tr>

      </table>
      &#160;
      <div id="DSPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
        <div id="DSPFPageNumberArea" style="text-align: center;"><font id="DSPFPageNumber" style="font-weight: normal; font-style: normal;">3</font></div>
        <div id="DSPFPageBreak" style="page-break-after: always;">
          <hr noshade="noshade" style="border-width: 0px; clear: both; margin: 4px 0px; width: 100%; height: 2px; color: #000000; background-color: #000000;"></div>
      </div>
      <div style="text-align: right; line-height: 1.25; font-weight: bold;">Item 1</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: 12pt; font-weight: bold; background-color: rgb(255, 255, 255); color: rgb(0, 0, 0); font-style: normal; font-variant: normal; text-transform: none;"><u>Updates to the Company's New Compensation Policy ahead of ICL's 2022 Annual General Meeting </u></div>
      <div style="text-align: center; line-height: 1.25; font-family: 'Times New Roman',Times,serif; font-size: 12pt; font-weight: bold; background-color: rgb(255, 255, 255); color: rgb(0, 0, 0); font-style: normal; font-variant: normal; text-transform: none;"><u>to be held on March 30, 2022</u></div>
      <div style="line-height: 1.25;"><br style="line-height: 1.25;">
      </div>
      <div style="text-align: justify; line-height: 1.25;">Further to the Company's Notice and Proxy Statement for the 2022 Annual General Meeting of Shareholders to be held on March 30, 2022, filed on Form 6-K with the U.S. Securities and Exchange
        Commission on February 17, 2022 (the &#8220;Proxy Statement&#8221;), the agenda for which includes, (among other things) a proposal for the approval of the Company's new Compensation Policy for office holders (within the meaning of the Israeli Companies law,
        1999) (Item 3 on the agenda), the form of which is attached as Appendix A to the Proxy Statement (the &#8220;New Compensation Policy&#8221;), and following discussions held with certain of the Company&#8217;s investors and at their request, the Company wishes to
        make certain clarifications to the proposed New Compensation Policy, as follows:</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="zd6c7aab2e68a4c74b2ba3b6fa3f569d4">

          <tr>
            <td style="width: 7.1pt;"><br>
            </td>
            <td style="width: 21.25pt; vertical-align: top; align: right;">1.</td>
            <td style="width: auto; vertical-align: top; text-align: justify;">
              <div>Section 8.1 of the New Compensation Policy regarding equity-based compensation for office holders has been clarified to reflect that any grants of restricted shares will be performance-based only.</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="zdd183d4aaaa64ba1b2b60a540275afcd">

          <tr>
            <td style="width: 7.1pt;"><br>
            </td>
            <td style="width: 21.25pt; vertical-align: top; align: right;">2.</td>
            <td style="width: auto; vertical-align: top; text-align: justify;">
              <div>Section 8.2 of the New Compensation Policy regarding vesting of equity grants has been clarified to reflect that the first portion of any LTI Awards (as defined therein) will be subject to a minimal vesting period of 12 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="z52cd587264134638a31504accf2cdaae">

          <tr>
            <td style="width: 7.1pt;"><br>
            </td>
            <td style="width: 21.25pt; vertical-align: top; align: right;">3.</td>
            <td style="width: auto; vertical-align: top; text-align: justify;">
              <div>Section 10 of the New Compensation Policy has been clarified to reflect that to the extent that equity grants are awarded to board members (excluding the chairman of the board), such equity awards to directors will exclude directors who
                are office holders of Israel Corporation Ltd., and the value per annum of such awards will not exceed 50% of the total value of the directors' fixed compensation (including per meeting compensation).</div>
            </td>
          </tr>

      </table>
      <div style="line-height: 1.25">&#160;</div>
      <div style="text-align: justify; line-height: 1.25;">The updated New Compensation Policy, marked with the abovementioned clarifications, is attached hereto as Annex A.</div>
      <div style="line-height: 1.25">&#160;</div>
      <div style="text-align: justify; line-height: 1.25;">The date of the annual general meeting, as well as all other items on the agenda for the annual general meeting will remain unchanged.</div>
      <div style="line-height: 1.25">&#160;</div>
      <div id="DSPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
        <div id="DSPFPageNumberArea" style="text-align: center;"><font id="DSPFPageNumber" style="font-weight: normal; font-style: normal;">4</font></div>
        <div id="DSPFPageBreak" style="page-break-after: always;">
          <hr noshade="noshade" style="border-width: 0px; clear: both; margin: 4px 0px; width: 100%; height: 2px; color: #000000; background-color: #000000;"></div>
      </div>
      <div style="text-align: right; line-height: 1.25; font-weight: bold;">Appendix A</div>
      <div style="line-height: 1.25">&#160;</div>
      <font style="font-weight: bold;"><strike>February</strike>&#160;<u>March</u> 2022 </font>
      <div style="line-height: 1.25">&#160;</div>
      <div style="text-align: center; line-height: 1.25; font-weight: bold;">ICL Group Ltd.</div>
      <div style="line-height: 1.25">&#160;</div>
      <div style="text-align: center; line-height: 1.25; font-weight: bold;"><u>Compensation Policy for Office Holders</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="zf5d45cd014e44f42b664080be2b9f99f">

          <tr>
            <td style="width: 18pt; vertical-align: top; align: right;">1.</td>
            <td style="width: auto; vertical-align: top;">
              <div style="font-weight: bold;">General</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="z0281c07c3d584b81aa97b3e038fb36c6">

          <tr>
            <td style="width: 18pt;"><br>
            </td>
            <td style="width: 21.6pt; vertical-align: top; align: right;">1.1.</td>
            <td style="width: auto; vertical-align: top;">
              <div style="text-align: justify;">This document is designed to detail the compensation policy of ICL Group Ltd. ("<font style="font-weight: bold;">ICL</font>" or the "<font style="font-weight: bold;">Company</font>") for its Office Holders,
                as such term is defined in the Companies Law, 1999 ("<font style="font-weight: bold;">Companies Law</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="z5fe9915f025f45dcac58ac1093212158">

          <tr>
            <td style="width: 18pt;"><br>
            </td>
            <td style="width: 21.6pt; vertical-align: top; align: right;">1.2.</td>
            <td style="width: auto; vertical-align: top;">
              <div style="text-align: justify;">This policy does not grant any legal rights to ICL's Office Holders. ICL's Office Holders shall be entitled only to the compensation granted to each of them specifically by the HR &amp; Compensation
                Committee, the Board of Directors ("<font style="font-weight: bold;">Board</font>"), and where required, subject to the approval of the shareholders of the Company. For purposes of this policy, the term "Authorized Organ" shall refer to the
                relevant corporate organ or organs stated above, the approval of which is required under the Companies Law for the relevant compensation.</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="zeaf5ef51de3640e1b4fb355367abd0f7">

          <tr>
            <td style="width: 18pt;"><br>
            </td>
            <td style="width: 21.6pt; vertical-align: top; align: right;">1.3.</td>
            <td style="width: auto; vertical-align: top;">
              <div style="text-align: justify;">In the event that an Office Holder shall receive compensation which is less favorable than the compensation described under this policy for an Office Holder in the same position at ICL, this shall not
                constitute an exception to this policy.</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="zb1a00b7a1c994407b88bbcd860cceab7">

          <tr>
            <td style="width: 18pt;"><br>
            </td>
            <td style="width: 21.6pt; vertical-align: top; align: right;">1.4.</td>
            <td style="width: auto; vertical-align: top;">
              <div style="text-align: justify;">For purposes of this policy, &#8220;<font style="font-weight: bold;">Executive Officers</font>&#8221; shall refer to Office holders (as such term is defined in the Companies Law) that have an active executive role with
                the Company, including a (full or part time) executive chairman of the Board, and shall not refer to non-executive members of the Board, unless otherwise expressly indicated.</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="za08b00176aba44fb99b93f79669de9b0">

          <tr>
            <td style="width: 18pt;"><br>
            </td>
            <td style="width: 21.6pt; vertical-align: top; align: right;">1.5.</td>
            <td style="width: auto; vertical-align: top;">
              <div style="text-align: justify;">This policy is written in the masculine form for convenience only and is intended for women and men alike.</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="zb2f44a2ced594fd990416852c50e92b1">

          <tr>
            <td style="width: 18pt;"><br>
            </td>
            <td style="width: 21.6pt; vertical-align: top; align: right;">1.6.</td>
            <td style="width: auto; vertical-align: top;">
              <div style="text-align: justify;">Upon the approval of this policy by the shareholders of the Company, the compensation policy that was in place until such date shall be replaced in its entirety by this amended and restated compensation
                policy.</div>
            </td>
          </tr>

      </table>
      <div style="line-height: 1.25">&#160;</div>
      <div id="DSPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
        <div id="DSPFPageNumberArea" style="text-align: center;"><font id="DSPFPageNumber" style="font-weight: normal; font-style: normal;">5</font></div>
        <div id="DSPFPageBreak" style="page-break-after: always;">
          <hr noshade="noshade" style="border-width: 0px; clear: both; margin: 4px 0px; width: 100%; height: 2px; color: #000000; background-color: #000000;"></div>
      </div>
      <div style="line-height: 1.25;"><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="zf745c18aa8dd4cc08c49253148cfd7eb">

          <tr>
            <td style="width: 18pt; vertical-align: top; align: right;">2.</td>
            <td style="width: auto; vertical-align: top;">
              <div style="font-weight: bold;">Compensation Objectives and Principles</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="ze6ae8329b8b74f7d8f4497dae4641718">

          <tr>
            <td style="width: 18pt;"><br>
            </td>
            <td style="width: 18pt; vertical-align: top;">2.1.</td>
            <td style="width: auto; vertical-align: top;">
              <div style="text-align: justify;">ICL is a leading global specialty minerals company. ICL Group creates impactful solutions for humanity's sustainability challenges in global food, agriculture, and industrial markets, and leverages its unique
                bromine, potash and phosphate resources, its passionate team of talented employees, and its strong focus on R&amp;D and technological innovation to drive growth across its end markets. ICL shares are dually listed on the New York Stock
                Exchange and the Tel Aviv Stock Exchange (NYSE and TASE: ICL).</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="z8a3ebc25990f434c878c343fff35e40e">

          <tr>
            <td style="width: 18pt;"><br>
            </td>
            <td style="width: 18pt; vertical-align: top;">2.2.</td>
            <td style="width: auto; vertical-align: top;">
              <div style="text-align: justify;">This policy is intended to enable ICL to attract and retain, on a global basis, highly experienced executives capable of managing vast, complex and global operations, and to motivate them to drive the
                Company's long-term goals by structuring a compensation package that maintains the balance between fixed and variable components. As such, the compensation package for Executive Officers will generally have the following characteristics:</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="zb0ceb2d0855c4d5e8ca0cef3e659cd7c">

          <tr>
            <td style="width: 36pt;"><br>
            </td>
            <td style="width: 36pt; vertical-align: top; align: right;">2.2.1.</td>
            <td style="width: auto; vertical-align: top;">
              <div>compensation elements will be clear and transparent;</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="zbb7ffdb65eb248b595c49f3182084bc5">

          <tr>
            <td style="width: 36pt;"><br>
            </td>
            <td style="width: 36pt; vertical-align: top; align: right;">2.2.2.</td>
            <td style="width: auto; vertical-align: top;">
              <div style="text-align: justify;">components of the compensation package will be aligned with ICL's short-term and long-term goals;</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="z880d9ec23155481ba88e2bdd1988ddb6">

          <tr>
            <td style="width: 36pt;"><br>
            </td>
            <td style="width: 36pt; vertical-align: top; align: right;">2.2.3.</td>
            <td style="width: auto; vertical-align: top;">
              <div style="text-align: justify;">compensation will be structured in ways that aligns Executive Officers' interests with shareholders' 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="zee5560660f5f47dc976e06cbb7724c0e">

          <tr>
            <td style="width: 36pt;"><br>
            </td>
            <td style="width: 36pt; vertical-align: top; align: right;">2.2.4.</td>
            <td style="width: auto; vertical-align: top;">
              <div>a significant portion of the compensation package will be "at risk" and based on corporate performance as well as individual performance;</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="zbf57e3ba08a04ed5a69dc3d66d1ba9f0">

          <tr>
            <td style="width: 36pt;"><br>
            </td>
            <td style="width: 36pt; vertical-align: top; align: right;">2.2.5.</td>
            <td style="width: auto; vertical-align: top;">
              <div>equity-based compensation will be subject to a vesting period of over at least three (3) years.</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="zda12d4c74c4a4649b8c8a7215ccf483b">

          <tr>
            <td style="width: 18pt;"><br>
            </td>
            <td style="width: 18pt; vertical-align: top;">2.3.</td>
            <td style="width: auto; vertical-align: top;">
              <div style="text-align: justify;">In addition to the characteristics above, the compensation will be structured so as to ensure balanced and effective risk management by encouraging excellent performance without promoting excessive
                risk-taking deviating from the framework outlined by the Board. ICL believes that the following factors may help to discourage inappropriate risk-taking:</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="zce9900e175e44feda6c3ae57cf4cb308">

          <tr>
            <td style="width: 36pt;"><br>
            </td>
            <td style="width: 36pt; vertical-align: top; align: right;">2.3.1.</td>
            <td style="width: auto; vertical-align: top;">
              <div style="text-align: justify;"> a balanced mix of compensation components: fixed component, short-term variable component and long-term variable component;</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="ze7e56600d8b842fa9c50ac935e547f16">

          <tr>
            <td style="width: 36pt;"><br>
            </td>
            <td style="width: 36pt; vertical-align: top; align: right;">2.3.2.</td>
            <td style="width: auto; vertical-align: top;">
              <div style="text-align: justify;"> The compensation goals should reflect a mix of quantitative and qualitative performance measures;</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="zbe9c98c0cf204fadb40a7d9095024221">

          <tr>
            <td style="width: 36pt;"><br>
            </td>
            <td style="width: 36pt; vertical-align: top; align: right;">2.3.3.</td>
            <td style="width: auto; vertical-align: top;">
              <div style="text-align: justify;">setting caps on the variable compensation 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="zec1cc46ab7a9444a883b311526528b2d">

          <tr>
            <td style="width: 36pt;"><br>
            </td>
            <td style="width: 36pt; vertical-align: top; align: right;">2.3.4.</td>
            <td style="width: auto; vertical-align: top;">
              <div style="text-align: justify;"> determining claw-back provisions with respect to variable compensation.</div>
            </td>
          </tr>

      </table>
      <div style="line-height: 1.25">&#160;</div>
      <div id="DSPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
        <div id="DSPFPageNumberArea" style="text-align: center;"><font id="DSPFPageNumber" style="font-weight: normal; font-style: normal;">6</font></div>
        <div id="DSPFPageBreak" style="page-break-after: always;">
          <hr noshade="noshade" style="border-width: 0px; clear: both; margin: 4px 0px; width: 100%; height: 2px; color: #000000; background-color: #000000;"></div>
      </div>
      <div style="line-height: 1.25;"><br style="line-height: 1.25;">
      </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="ze9a57bcb348f4d60a7ca215e29c4d4ab">

          <tr>
            <td style="width: 18pt; vertical-align: top; align: right;">3.</td>
            <td style="width: auto; vertical-align: top;">
              <div style="font-weight: bold;">Compensation Components</div>
            </td>
          </tr>

      </table>
      <div style="line-height: 1.25">&#160;</div>
      <div style="text-align: justify; margin-left: 21.6pt; line-height: 1.25; font-family: 'Times New Roman',Times,serif;">The overall compensation of ICL's Executive Officers shall be composed of various components, fixed and variable. ICL&#8217;s Executive
        Officers&#8217; Total Compensation is composed of the following elements:</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="ze26bc26ba0e748e0aa84d87742551f09">

          <tr>
            <td style="width: 27pt;"><br>
            </td>
            <td style="width: 25.2pt; vertical-align: top; align: right;">&#9642;</td>
            <td style="width: auto; vertical-align: top;">
              <div>Base Salary</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="zf6ba7a3b4f484411964c0321c30e4c5c">

          <tr>
            <td style="width: 27pt;"><br>
            </td>
            <td style="width: 25.2pt; vertical-align: top; align: right;">&#9642;</td>
            <td style="width: auto; vertical-align: top;">
              <div>Social and other 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" id="zec9791c2e6944108ac7e8ba77fb25c16">

          <tr>
            <td style="width: 27pt;"><br>
            </td>
            <td style="width: 25.2pt; vertical-align: top; align: right;">&#9642;</td>
            <td style="width: auto; vertical-align: top;">
              <div>Annual Cash Bonus (Short term Incentive or STI)</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="z49bb174ef3274e1eacdf6b4eadfa63d0">

          <tr>
            <td style="width: 27pt;"><br>
            </td>
            <td style="width: 25.2pt; vertical-align: top; align: right;">&#9642;</td>
            <td style="width: auto; vertical-align: top;">
              <div>Equity-based compensation (Long-Term Incentive or LTI)</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="za317aeebc4db43dca9293cea3e7614bb">

          <tr>
            <td style="width: 27pt;"><br>
            </td>
            <td style="width: 25.2pt; vertical-align: top; align: right;">&#9642;</td>
            <td style="width: auto; vertical-align: top;">
              <div>Retirement and Termination arrangements</div>
            </td>
          </tr>

      </table>
      <div style="line-height: 1.25">&#160;</div>
      <div style="text-align: justify; line-height: 1.25;">It should be noted that this policy refers, among others, also to the terms of service and/or employment of an Executive Chairman that is either employed by the Company or that provides services
        thereto.</div>
      <div style="line-height: 1.25">&#160;</div>
      <div style="text-align: justify; line-height: 1.25;">ICL seeks to establish a base salary and total compensation that is competitive with the base salary and total compensation paid to Executive Officers in similar industries and positions, in both
        global and/or local companies, as relevant and if applicable for each position.</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="z668c081e779a44e8871bad83eee850ef">

          <tr>
            <td style="width: 18pt; vertical-align: top; align: right;">4.</td>
            <td style="width: auto; vertical-align: top;">
              <div style="font-weight: bold;">Ratio between Fixed and Variable Components</div>
            </td>
          </tr>

      </table>
      <div style="line-height: 1.25">&#160;</div>
      <div style="text-align: justify; line-height: 1.25;">The ranges for the desirable ratios between the fixed and the variable components of the Executive Officers compensation are detailed below. The ratios represent the ratio of the fixed or variable
        component out of the overall compensation:</div>
      <div style="line-height: 1.25">&#160;</div>
      <table cellspacing="0" cellpadding="3" border="0" style="font-family: 'Times New Roman',Times,serif; font-size: 10pt; width: 100%; text-align: left; color: rgb(0, 0, 0);" id="z3a93b2071ced4e99b30ebc0c58932ab5">

          <tr>
            <td style="width: 42.33%; vertical-align: top; border-top: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0);">
              <div style="text-align: justify; line-height: 1.25; font-family: 'Times New Roman', Times, serif; font-weight: bold;">Office Holders</div>
            </td>
            <td style="width: 26.01%; vertical-align: top; border-top: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0);">
              <div style="text-align: justify; line-height: 1.25; font-family: 'Times New Roman', Times, serif; font-weight: bold;">Fixed Component</div>
              <div style="text-align: justify; line-height: 1.25; font-family: 'Times New Roman', Times, serif; font-weight: bold;">(Base Salary)</div>
            </td>
            <td style="width: 31.66%; vertical-align: top; border-top: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0); border-right: 1px solid rgb(0, 0, 0);">
              <div style="text-align: justify; line-height: 1.25; font-family: 'Times New Roman', Times, serif; font-weight: bold;">Variable Components</div>
              <div style="text-align: justify; line-height: 1.25; font-family: 'Times New Roman', Times, serif; font-weight: bold;">(Bonuses &amp; LTI)</div>
            </td>
          </tr>
          <tr>
            <td style="width: 42.33%; vertical-align: top; border-top: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0);">
              <div style="text-align: justify; line-height: 1.25; font-family: 'Times New Roman', Times, serif;">CEO<sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">1</sup></div>
            </td>
            <td style="width: 26.01%; vertical-align: middle; border-top: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0);">
              <div style="text-align: justify; line-height: 1.25; font-family: 'Times New Roman', Times, serif;">15% - 60%</div>
            </td>
            <td style="width: 31.66%; vertical-align: middle; border-top: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0); border-right: 1px solid rgb(0, 0, 0);">
              <div style="text-align: justify; line-height: 1.25; font-family: 'Times New Roman', Times, serif;">40% - 85%</div>
            </td>
          </tr>
          <tr>
            <td style="width: 42.33%; vertical-align: top; border-top: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0);">
              <div style="text-align: justify; line-height: 1.25; font-family: 'Times New Roman', Times, serif;">Executive Chairman<sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">1</sup></div>
            </td>
            <td style="width: 26.01%; vertical-align: middle; border-top: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0);">
              <div style="text-align: justify; line-height: 1.25; font-family: 'Times New Roman', Times, serif;">0% &#8211; 40%</div>
            </td>
            <td style="width: 31.66%; vertical-align: middle; border-top: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0); border-right: 1px solid rgb(0, 0, 0);">
              <div style="text-align: justify; line-height: 1.25; font-family: 'Times New Roman', Times, serif;">60% - 100%</div>
            </td>
          </tr>
          <tr>
            <td style="width: 42.33%; vertical-align: top; border-top: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0);">
              <div style="text-align: justify; line-height: 1.25; font-family: 'Times New Roman', Times, serif;">Executive Officers</div>
              <div style="text-align: justify; line-height: 1.25; font-family: 'Times New Roman', Times, serif;">(other than Executive Chairman, CEO)</div>
            </td>
            <td style="width: 26.01%; vertical-align: middle; border-top: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0);">
              <div style="text-align: justify; line-height: 1.25; font-family: 'Times New Roman', Times, serif;">20% - 60%</div>
            </td>
            <td style="width: 31.66%; vertical-align: middle; border-top: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0); border-right: 1px solid rgb(0, 0, 0);">
              <div style="text-align: justify; line-height: 1.25; font-family: 'Times New Roman', Times, serif;">40% - 80%</div>
            </td>
          </tr>
          <tr>
            <td style="width: 42.33%; vertical-align: top; border-top: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: justify; line-height: 1.25; font-family: 'Times New Roman', Times, serif;">Board Members</div>
            </td>
            <td style="width: 26.01%; vertical-align: middle; border-top: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: justify; line-height: 1.25; font-family: 'Times New Roman', Times, serif;">50% - 100%</div>
            </td>
            <td style="width: 31.66%; vertical-align: middle; border-width: 1px; border-style: solid; border-color: rgb(0, 0, 0);">
              <div style="text-align: justify; line-height: 1.25; font-family: 'Times New Roman', Times, serif;">0% - 50%</div>
            </td>
          </tr>

      </table>
      <div style="line-height: 1.25">
        <div><br>
        </div>
        <hr align="left" style="height: 1px; width: 10%; color: #000000; background-color: #000000; margin-left: 0px; margin-right: auto; border: none;">
        <div>
          <table cellspacing="0" cellpadding="0" class="DSPFListTable" id="zec58eb93bf494570a819d72bb189c957" style="width: 100%; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">

              <tr style="vertical-align: top;">
                <td style="vertical-align: top; width: 18pt;">
                  <div style="text-align: justify; line-height: 1.25;"><sup style="font-family: 'Times New Roman',serif; vertical-align: text-top; line-height: 1; font-size: smaller;">1</sup></div>
                </td>
                <td style="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 minimal ratio of 15% or 0% fixed component out of the overall compensation, and respectively, the maximum ratio of 85% or
                      100% variable component out of the overall compensation, represents a situation whereby the Executive Chairman or the CEO, as the case may be, reach their maximum caps of entitlement to the variable components (Bonuses &amp; LTI) in a
                      given year or whereby the Executive Chairman does not receive a Fixed Component and reaches his maximum caps of entitlement to the Variable Components in a given year.</font></div>
                </td>
              </tr>

          </table>
        </div>
      </div>
      <div style="line-height: 1.25"> <br>
      </div>
      <div id="DSPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
        <div id="DSPFPageNumberArea" style="text-align: center;"><font id="DSPFPageNumber" style="font-weight: normal; font-style: normal;">7</font></div>
        <div id="DSPFPageBreak" style="page-break-after: always;">
          <hr noshade="noshade" style="border-width: 0px; clear: both; margin: 4px 0px; width: 100%; height: 2px; color: #000000; background-color: #000000;"></div>
      </div>
      <div style="text-align: justify; line-height: 1.25;">The ratios stated in the table above represent the potential pay mix; however, the actual ratios may vary based on performance in a given year. For example, in a year with no or limited variable
        component, the ratio between the fixed compensation and the overall compensation may be higher than stated above. <font style="font-weight: bold; font-style: italic;">&#160;</font></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="ze82d00fbfe6e4054a2467e215fdd6b08">

          <tr>
            <td style="width: 18pt; vertical-align: top; align: right;">5.</td>
            <td style="width: auto; vertical-align: top;">
              <div style="font-weight: bold;">Internal Company Comparison</div>
            </td>
          </tr>

      </table>
      <div style="line-height: 1.25">&#160;</div>
      <div style="text-align: justify; line-height: 1.25;">Upon approval of compensation for an Executive Officer, the Authorized Organs will examine, inter alia: the ratio between the base salary of the Executive Officer and the average and median salary
        of the other employees of ICL (including contractors&#8217; workers employed with ICL); and the ratio between the cost of the employment of the Executive Officer and the average and median cost of employment of the other employees (including contractors&#8217;
        workers employed with ICL), and the influence of such ratios on the working relations in the Company, taking into consideration the Company's size, nature of operations, and the market in which it operates.</div>
      <div style="line-height: 1.25">&#160;</div>
      <div style="text-align: justify; line-height: 1.25;">The table below shows the current ratio based on 2021 cost of labor data, between the overall cost of employment of ICL&#8217;s CEO and the average and median overall cost of employment for all other ICL
        employees (i.e. the employees of the public company only, including the contractor&#8217;s workers), and the current ratio between the average cost of employment of Executive Officers (other than the CEO) and the average and median overall cost of
        employment for all other ICL employees, assuming 12 months of employment, payment of the Target STI (as defined below) for 2021 and assuming the value of equity-based compensation for one vesting annum as valued at the date of grant according to
        the most updated equity based compensation plan<sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">2</sup>:</div>
      <div style="line-height: 1.25">&#160;</div>
      <table cellspacing="0" cellpadding="3" border="0" style="font-family: 'Times New Roman',Times,serif; font-size: 10pt; width: 100%; text-align: left; color: rgb(0, 0, 0);" id="z523079023af240c8a4f91974f10593ec">

          <tr>
            <td style="width: 23.58%; vertical-align: top; border-top: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0);">
              <div style="text-align: justify; line-height: 1.25; font-family: 'Times New Roman', Times, serif; font-weight: bold;">Position</div>
            </td>
            <td style="width: 38.31%; vertical-align: top; border-top: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0);">
              <div style="text-align: justify; line-height: 1.25; font-family: 'Times New Roman', Times, serif; font-weight: bold;">Ratio to average of other employees' Overall Compensation</div>
            </td>
            <td style="width: 38.11%; vertical-align: top; border-top: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0); border-right: 1px solid rgb(0, 0, 0);">
              <div style="text-align: justify; line-height: 1.25; font-family: 'Times New Roman', Times, serif; font-weight: bold;">Ratio to median of other employees' Overall Compensation</div>
            </td>
          </tr>
          <tr>
            <td style="width: 23.58%; vertical-align: top; border-top: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0);">
              <div style="text-align: justify; line-height: 1.25; font-family: 'Times New Roman', Times, serif;">CEO</div>
            </td>
            <td style="width: 38.31%; vertical-align: top; border-top: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0);">
              <div style="text-align: justify; line-height: 1.25; font-family: 'Times New Roman', Times, serif;">Approx. 11.4 times</div>
            </td>
            <td style="width: 38.11%; vertical-align: top; border-top: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0); border-right: 1px solid rgb(0, 0, 0);">
              <div style="text-align: justify; line-height: 1.25; font-family: 'Times New Roman', Times, serif;">Approx. 19.8 times</div>
            </td>
          </tr>
          <tr>
            <td style="width: 23.58%; vertical-align: top; border-top: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: justify; line-height: 1.25; font-family: 'Times New Roman', Times, serif;">Executive Officers (other than CEO)</div>
            </td>
            <td style="width: 38.31%; vertical-align: top; border-top: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);">
              <div style="text-align: justify; line-height: 1.25; font-family: 'Times New Roman', Times, serif;">Approx. 5.4 times</div>
            </td>
            <td style="width: 38.11%; vertical-align: top; border-width: 1px; border-style: solid; border-color: rgb(0, 0, 0);">
              <div style="text-align: justify; line-height: 1.25; font-family: 'Times New Roman', Times, serif;">Approx. 6.9 times</div>
            </td>
          </tr>

      </table>
      <div style="text-align: justify; line-height: 1.25;">&#160;&#160;&#160;&#160;&#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="z2d71e89608de40bbadf6dfadd13f9f25">

          <tr>
            <td style="width: 18pt; vertical-align: top; align: right;">6.</td>
            <td style="width: auto; vertical-align: top;">
              <div style="font-weight: bold;">Fixed Compensation</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="z158c5cb0a50d47a8bebf08c0d09e039a">

          <tr>
            <td style="width: 18pt;"><br>
            </td>
            <td style="width: 18pt; vertical-align: top; font-family: 'Times New Roman',Times,serif;">6.1.</td>
            <td style="width: auto; vertical-align: top;">
              <div><u>Base Salary</u></div>
            </td>
          </tr>

      </table>
      <div style="line-height: 1.25">&#160;</div>
      <div style="text-align: justify; margin-left: 36pt; line-height: 1.25;">The base salary may vary between the Executive Officers in ICL and shall be individually determined according to some or all of the following considerations:</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="z9fc4accf1fb543d1a565f1f0164dc979">

          <tr>
            <td style="width: 36pt;"><br>
            </td>
            <td style="width: 18pt; vertical-align: top; align: right;">&#9642;</td>
            <td style="width: auto; vertical-align: top;">
              <div>Executive Officer's educational background, qualifications, skills, specializations, prior professional and business experience, past performance and achievements;</div>
            </td>
          </tr>

      </table>
      <div style="line-height: 1.25"> <br>
      </div>
      <div style="line-height: 1.25">
        <hr align="left" style="height: 1px; width: 10%; color: #000000; background-color: #000000; margin-left: 0px; margin-right: auto; border: none;">&#160;<sup style="font-family: 'Times New Roman', serif; vertical-align: text-top; line-height: 1; font-size: smaller;">2</sup>&#160;The table does not include information
        regarding Executive chairman<br>
      </div>
      <div id="DSPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
        <div id="DSPFPageNumberArea" style="text-align: center;"><font id="DSPFPageNumber" style="font-weight: normal; font-style: normal;">8</font></div>
        <div id="DSPFPageBreak" style="page-break-after: always;">
          <hr noshade="noshade" style="border-width: 0px; clear: both; margin: 4px 0px; width: 100%; height: 2px; color: #000000; background-color: #000000;"></div>
      </div>
      <div style="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="za25ce966dde64d35beab7190ce26cee4">

          <tr>
            <td style="width: 36pt;"><br>
            </td>
            <td style="width: 18pt; vertical-align: top; align: right;">&#9642;</td>
            <td style="width: auto; vertical-align: top;">
              <div>Executive Officer's position and scope of responsibility;</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="z6d57eb50e6e94df6a98817fcb93e3d38">

          <tr>
            <td style="width: 36pt;"><br>
            </td>
            <td style="width: 18pt; vertical-align: top; align: right;">&#9642;</td>
            <td style="width: auto; vertical-align: top;">
              <div>Executive Officer's previous compensation 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="z8768f3a88b4e40dc99a609bf8e4bc7f0">

          <tr>
            <td style="width: 36pt;"><br>
            </td>
            <td style="width: 18pt; vertical-align: top; align: right;">&#9642;</td>
            <td style="width: auto; vertical-align: top;">
              <div>Comparable compensation agreements within ICL;</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="z5da8c9c332e84384824abf74b587517e">

          <tr>
            <td style="width: 36pt;"><br>
            </td>
            <td style="width: 18pt; vertical-align: top; align: right;">&#9642;</td>
            <td style="width: auto; vertical-align: top;">
              <div>Comparable positions in other local and/or global companies as relevant and if applicable to the position.</div>
            </td>
          </tr>

      </table>
      <div style="line-height: 1.25">&#160;</div>
      <div style="text-align: justify; margin-left: 36pt; line-height: 1.25;"><u>Annual Base Salary Review</u> - The Authorized Organs may conduct an annual review of the base salary of the Executive Officers, while considering some or all of the following
        factors:</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="zbbb4051474d540498da528edcaced06b">

          <tr>
            <td style="width: 36pt;"><br>
            </td>
            <td style="width: 18pt; vertical-align: top; align: right;">&#9642;</td>
            <td style="width: auto; vertical-align: top;">
              <div>the position of the relevant Executive 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="ze80f092512cb4d418adc59396fd906df">

          <tr>
            <td style="width: 36pt;"><br>
            </td>
            <td style="width: 18pt; vertical-align: top; align: right;">&#9642;</td>
            <td style="width: auto; vertical-align: top;">
              <div>scope of responsibility;</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="z7356b04cd10b41e69d3f7295b62c9955">

          <tr>
            <td style="width: 36pt;"><br>
            </td>
            <td style="width: 18pt; vertical-align: top; align: right;">&#9642;</td>
            <td style="width: auto; vertical-align: top;">
              <div>relevant Executive Officer's achievements;</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="z3a054808280c472187a5bc9f0ab0892d">

          <tr>
            <td style="width: 36pt;"><br>
            </td>
            <td style="width: 18pt; vertical-align: top; align: right;">&#9642;</td>
            <td style="width: auto; vertical-align: top;">
              <div>professional and business experience of the Executive 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="z008bfd9fc0144000a310e48ef8f4d9df">

          <tr>
            <td style="width: 36pt;"><br>
            </td>
            <td style="width: 18pt; vertical-align: top; align: right;">&#9642;</td>
            <td style="width: auto; vertical-align: top;">
              <div>previous salary agreements signed with the relevant Executive 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="z418dc45b32424630bc097f3903c55bdc">

          <tr>
            <td style="width: 36pt;"><br>
            </td>
            <td style="width: 18pt; vertical-align: top; align: right;">&#9642;</td>
            <td style="width: auto; vertical-align: top;">
              <div>salary levels for comparable positions within ICL;</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="z1a2e7cdb651d4374a23d1c6ddcc047ca">

          <tr>
            <td style="width: 36pt;"><br>
            </td>
            <td style="width: 18pt; vertical-align: top; align: right;">&#9642;</td>
            <td style="width: auto; vertical-align: top;">
              <div>size of the company and nature of its operations</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="z8e1f83c3e1a8476ab88a6ea4f4073dae">

          <tr>
            <td style="width: 36pt;"><br>
            </td>
            <td style="width: 18pt; vertical-align: top; align: right;">&#9642;</td>
            <td style="width: auto; vertical-align: top;">
              <div>ICL's macroeconomic environment; 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="z8ae7d689df2244a68ccc6573b9b7ec59">

          <tr>
            <td style="width: 36pt;"><br>
            </td>
            <td style="width: 18pt; vertical-align: top; align: right;">&#9642;</td>
            <td style="width: auto; vertical-align: top;">
              <div>comparative relevant market analysis</div>
            </td>
          </tr>

      </table>
      <div style="line-height: 1.25">&#160;</div>
      <div style="text-align: justify; margin-left: 35.45pt; line-height: 1.25;">The base salary includes cash benefits (such as convalescence pay, clothing and welfare package) and it may be linked to the applicable index.</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="z99aa6a2a40e34b6692ea2b2f69606174">

          <tr>
            <td style="width: 18pt;"><br>
            </td>
            <td style="width: 18pt; vertical-align: top; font-family: 'Times New Roman',Times,serif;">6.2.</td>
            <td style="width: auto; vertical-align: top;">
              <div style="text-align: justify;">The maximum annual base salary for Executive Officers shall not exceed the following amounts:<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>
      <div 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;" id="z5bac87d4871b4b5fb00574959634c91b">

              <tr>
                <td style="width: 36pt;"><br>
                </td>
                <td style="width: 36pt; vertical-align: top; align: right;">6.2.1.&#160;&#160;&#160; <br>
                </td>
                <td style="width: 144pt; vertical-align: top; align: right;">Executive Chairman &#8211;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;</td>
                <td style="width: auto; vertical-align: top;">$803,000</td>
              </tr>

          </table>
        </div>
      </div>
      <div style="line-height: 1.25">&#160;</div>
      <div 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;" id="zdfd2b404fd9647ff9918ffb7bda9d86c">

              <tr>
                <td style="width: 36pt;"><br>
                </td>
                <td style="width: 36pt; vertical-align: top; align: right;">6.2.2.&#160;&#160;&#160; <br>
                </td>
                <td style="width: 144pt; vertical-align: top;">CEO &#8211;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;</td>
                <td style="width: auto; vertical-align: top;">$978,000</td>
              </tr>

          </table>
        </div>
      </div>
      <div style="line-height: 1.25">&#160;</div>
      <div style="line-height: 1.25">
        <div 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;">

                <tr>
                  <td style="width: 36pt;"><br>
                  </td>
                  <td style="width: 36pt; vertical-align: top; align: right;">6.2.3.</td>
                  <td style="width: 144pt; vertical-align: top;">Other Executive Officers &#8211;</td>
                  <td style="width: auto; vertical-align: top;">
                    <div>$575,000</div>
                  </td>
                </tr>

            </table>
          </div>
        </div>
        <div style="line-height: 1.25">&#160; <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="z389b3b8b59ee4dd69f973f5e9eac1b9e">

          <tr>
            <td style="width: 18pt;"><br>
            </td>
            <td style="width: 18pt; vertical-align: top; font-family: 'Times New Roman',Times,serif;">6.3.</td>
            <td style="width: auto; vertical-align: top;">
              <div><u>Sign-on Bonus</u></div>
            </td>
          </tr>

      </table>
      <div style="line-height: 1.25">&#160;</div>
      <div style="text-align: justify; margin-left: 35.45pt; line-height: 1.25;">In order to attract highly qualified executives, the Authorized Organs may grant an Executive Officer a sign-on bonus, as an incentive to join the Company. The sign-on bonus
        shall be granted if the HR &amp; Compensation Committee and the Board will deem that in the specific circumstances there is a special need to grant the sign-on bonus in order to hire the specific Executive Officer. The amount of the sign-on bonus
        shall be determined while considering, among others, the market conditions, the specific circumstances involved in hiring of such Executive Officer, including circumstances of relocation and such other criteria as specified in Section 6.1 above
        with respect to base salary. In addition, consideration may be given to the compensation the Executive Officer was likely denied (as a high probability) from his previous employer due to joining the Company. In the event the Executive Officer
        leaves the Company within twenty-four (24) months of joining the Company, the Executive Officer may be required to return such sign-on bonus to the Company.</div>
      <div style="line-height: 1.25">&#160;</div>
      <div style="line-height: 1.25">
        <hr align="left" style="height: 1px; width: 10%; color: #000000; background-color: #000000; margin-left: 0px; margin-right: auto; border: none;"> </div>
      <div style="line-height: 1.25">
        <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: 22.7pt; vertical-align: top; align: right;"><sup style="font-family: 'Times New Roman', serif; vertical-align: text-top; line-height: 1; font-size: smaller;">3</sup></td>
              <td style="width: auto; vertical-align: top;">
                <div style="text-align: justify;">The Israeli Shekels (ILS) cap amounts remain unchanged compared to the previous compensation policy. CAPS in USD denominated amounts have been adjusted to reflect an appreciation of 15% of USD/ILS exchange
                  rate from January 2019 through the date of the approval of the new compensation policy by the board of directors.</div>
              </td>
            </tr>

        </table>
        <div style="line-height: 1.25">&#160;</div>
      </div>
      <div id="DSPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
        <div id="DSPFPageNumberArea" style="text-align: center;"><font id="DSPFPageNumber" style="font-weight: normal; font-style: normal;">9</font></div>
        <div id="DSPFPageBreak" style="page-break-after: always;">
          <hr noshade="noshade" style="border-width: 0px; clear: both; margin: 4px 0px; width: 100%; height: 2px; color: #000000; background-color: #000000;"></div>
      </div>
      <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="z7cca02798b1746c6adef9528bcb7789f">

          <tr>
            <td style="width: 18pt;"><br>
            </td>
            <td style="width: 18pt; vertical-align: top; font-family: 'Times New Roman',Times,serif;">6.4.</td>
            <td style="width: auto; vertical-align: top;">
              <div><u>Social and Other Benefits</u></div>
            </td>
          </tr>

      </table>
      <div style="line-height: 1.25">&#160;</div>
      <div style="text-align: justify; margin-left: 35.45pt; line-height: 1.25;">ICL's Executive Officers may be entitled to social and other benefits as mandated or afforded by law, or that are customary in the Company and that the Authorized Organs deems
        advisable to provide a competitive employment package. Such benefits may include, <font style="font-style: italic;">inter alia</font>:</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="z252d5c3d9d504c2cbf848938d9fa4697">

          <tr>
            <td style="width: 36pt;"><br>
            </td>
            <td style="width: 18pt; vertical-align: top; align: right;">&#9642;</td>
            <td style="width: auto; vertical-align: top;">
              <div>Annual vacation as customary;</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="z85762586ad794fd5b825f2034d3b01da">

          <tr>
            <td style="width: 36pt;"><br>
            </td>
            <td style="width: 18pt; vertical-align: top; align: right;">&#9642;</td>
            <td style="width: auto; vertical-align: top;">
              <div>Annual sick leave as customary;</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="zece009dc146748dfb90f2373e509f16e">

          <tr>
            <td style="width: 36pt;"><br>
            </td>
            <td style="width: 18pt; vertical-align: top; align: right;">&#9642;</td>
            <td style="width: auto; vertical-align: top;">
              <div>Company contributions to pension funds and disability and life insurance 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="z4b32f7923368463496ac16df8963d44c">

          <tr>
            <td style="width: 36pt;"><br>
            </td>
            <td style="width: 18pt; vertical-align: top; align: right;">&#9642;</td>
            <td style="width: auto; vertical-align: top;">
              <div>Company contributions to educational funds or other savings vehicles;</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="z5d4babc3c86d4b5a9b4ba56bdf558f4d">

          <tr>
            <td style="width: 36pt;"><br>
            </td>
            <td style="width: 18pt; vertical-align: top; align: right;">&#9642;</td>
            <td style="width: auto; vertical-align: top;">
              <div>Additional benefits may include, inter alia, the following benefits ("<font style="font-weight: bold;">Additional Benefits</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="z2f375394e2e04e69889c8e4ecd7888a3">

          <tr>
            <td style="width: 54pt;"><br>
            </td>
            <td style="width: 18pt; vertical-align: top; align: right;">o</td>
            <td style="width: auto; vertical-align: top;">
              <div>Providing a Company car or a car allowance;</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="zfbd5db2cff7f445fb2814254c9d3a721">

          <tr>
            <td style="width: 54pt;"><br>
            </td>
            <td style="width: 18pt; vertical-align: top; align: right;">o</td>
            <td style="width: auto; vertical-align: top;">
              <div>Providing communication packages, including telephone, and computers with internet access;</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="zf9d492432b374c48b1678dfc989381ba">

          <tr>
            <td style="width: 54pt;"><br>
            </td>
            <td style="width: 18pt; vertical-align: top; align: right;">o</td>
            <td style="width: auto; vertical-align: top;">
              <div>Subscriptions to relevant literature;</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="z4dbbd1164ff9406f8257d1ac052bd1f0">

          <tr>
            <td style="width: 54pt;"><br>
            </td>
            <td style="width: 18pt; vertical-align: top; align: right;">o</td>
            <td style="width: auto; vertical-align: top;">
              <div>Life insurance;</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="z9d5e1c19cd964a7cb0f4748a04f67797">

          <tr>
            <td style="width: 54pt;"><br>
            </td>
            <td style="width: 18pt; vertical-align: top; align: right;">o</td>
            <td style="width: auto; vertical-align: top;">
              <div>Health insurance;</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="z39101d5accc44b9eafe617090dacb16a">

          <tr>
            <td style="width: 54pt;"><br>
            </td>
            <td style="width: 18pt; vertical-align: top; align: right;">o</td>
            <td style="width: auto; vertical-align: top;">
              <div>Relocation and housing allowances;</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="zd50b93660c9c4c30b86b0927be0f89dd">

          <tr>
            <td style="width: 54pt;"><br>
            </td>
            <td style="width: 18pt; vertical-align: top; align: right;">o</td>
            <td style="width: auto; vertical-align: top;">
              <div>Courses and trainings;</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="z230bd99613314205b1969a33cbec4501">

          <tr>
            <td style="width: 54pt;"><br>
            </td>
            <td style="width: 18pt; vertical-align: top; align: right;">o</td>
            <td style="width: auto; vertical-align: top;">
              <div>Professional association membership fees (lawyers bar, accountants bar, 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="ze196c6227fbb4a7ab91484891fd5a0e5">

          <tr>
            <td style="width: 54pt;"><br>
            </td>
            <td style="width: 18pt; vertical-align: top; align: right;">o</td>
            <td style="width: auto; vertical-align: top;">
              <div>Financial/Tax planning in case of relocation.</div>
            </td>
          </tr>

      </table>
      <div style="line-height: 1.25">&#160;</div>
      <div style="text-align: justify; margin-left: 35.45pt; line-height: 1.25;">In addition, ICL's Executive Officers are also entitled to reimbursement of expenses related to their duties, as is customary in the Company and when applicable tax gross-ups
        as customary in the market. If the Executive Officer provides services to the Company as an independent contractor or through a management company controlled by him, the payment to that Executive Officer or to the said company will reflect the
        components of the fixed compensation (plus applicable taxes, such as VAT) in accordance with the principles of this policy.</div>
      <div style="line-height: 1.25">&#160;</div>
      <div id="DSPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
        <div id="DSPFPageNumberArea" style="text-align: center;"><font id="DSPFPageNumber" style="font-weight: normal; font-style: normal;">10</font></div>
        <div id="DSPFPageBreak" style="page-break-after: always;">
          <hr noshade="noshade" style="border-width: 0px; clear: both; margin: 4px 0px; width: 100%; height: 2px; color: #000000; background-color: #000000;"></div>
      </div>
      <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="z2ca226f99751456bbe888dd672f2d87c">

          <tr>
            <td style="width: 18pt; vertical-align: top; align: right;">7.</td>
            <td style="width: auto; vertical-align: top;">
              <div style="font-weight: bold;">Annual Cash Bonus</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="zfa70f0f98a944809a3d02b1d810da360">

          <tr>
            <td style="width: 18pt;"><br>
            </td>
            <td style="width: 18pt; vertical-align: top; font-family: 'Times New Roman',Times,serif;">7.1.</td>
            <td style="width: auto; vertical-align: top;">
              <div style="text-align: justify;">ICL's Executive Officers may be entitled to an annual compensation in accordance with the short-term incentive plan (the "<font style="font-weight: bold;">STI Plan</font>" or "<font style="font-weight: bold;">STI</font>").




                The STI Plan is aimed to create an alignment between the compensation of the Executive Officers and the Company's annual and long-term goals while focusing, among other things, on individual goals that will be defined for each of the
                Executive Officers. The STI Plan may include rules for eligibility in cases the Executive Officer serves for only part of the relevant year. STI Plans payouts to Executive Officers, excluding the CEO and the Executive Chairman, may be
                calculated by using measurable financial metrics and/or measurable non-financial metrics, as pre-determined or pre-approved by the HR &amp; Compensation Committee and the Board, and\or a qualitative evaluation. It is clarified that, the HR
                &amp; Compensation Committee and Board of Directors may determine in any given year, that the STI payout for Executive Officers, other than the CEO and Executive Chairman, in whole or in part, will be granted according to a qualitative
                evaluation of non-measurable items of the said organs, subject to the maximum payouts set forth in Section 7.4 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="zad5dc8dbf74d414f9a9e76354485de5f">

          <tr>
            <td style="width: 18pt;"><br>
            </td>
            <td style="width: 18pt; vertical-align: top; font-family: 'Times New Roman',Times,serif;">7.2.</td>
            <td style="width: auto; vertical-align: top;">
              <div><u>Annual STI for the CEO</u></div>
            </td>
          </tr>

      </table>
      <div style="line-height: 1.25">&#160;</div>
      <div style="text-align: justify; margin-left: 18pt; line-height: 1.25;">The Target STI for the CEO represents the conceptual payout amount for 100% performance level (i.e. achieving weighted 100% of all targets) in a given year.&#160; The Target STI for
        the CEO shall not exceed 120% of the CEO' annual base salary.</div>
      <div style="line-height: 1.25">&#160;</div>
      <div style="text-align: justify; margin-left: 18pt; line-height: 1.25;">80% of the CEO's STI target will be measured against performance level of annual measurable financial and measurable non-financial goals set forth by the HR &amp; compensation
        committee and the board of directors at the beginning of each fiscal year, as detailed below.</div>
      <div style="line-height: 1.25">&#160;</div>
      <div style="text-align: justify; margin-left: 18pt; line-height: 1.25;">20% of the CEO's STI target will be measured based on a qualitative evaluation by the HR &amp; compensation committee and the board of directors after receiving a recommendation
        of the Executive CoB.</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="z4287eb806f5e4ed2b3a8ea1a4cfa6835">

          <tr>
            <td style="width: 36pt;"><br>
            </td>
            <td style="width: 36pt; vertical-align: top; align: right;">7.2.1.</td>
            <td style="width: auto; vertical-align: top;">
              <div><u>Measurable Financial and measurable non-financial goals</u></div>
            </td>
          </tr>

      </table>
      <div style="line-height: 1.25">&#160;</div>
      <div style="text-align: justify; margin-left: 18pt; line-height: 1.25;">The HR &amp; compensation committee and the board of directors will define the goals and the weight of each goal at the beginning of each year after receiving a recommendation of
        the CoB.&#160; Out of the 80% STI target, at least 60% of STI target will be measured against financial goals that will be included in the annual budget.&#160; The financial goals shall be selected out of the following list: meeting working capital
        objectives, meeting cash flow objectives, meeting CAPEX objectives, improving capital structure, economic profit objectives, meeting sales' increase objectives, meeting budget objectives of sales, operating income, gross income, EBITDA and net
        income.&#160; Such measurable financial goals shall be determined by the HR &amp; Compensation committee and the board of directors in the beginning of the year, according to ICL's annual budget for the respective year, and shall be measured against the
        budget for purposes of determining the actual performance.&#160; The financial goals must include operating income and/or net income. The Financial actual performance figures shall be adjusted according to paragraph 7.6 below.</div>
      <div style="line-height: 1.25">&#160;</div>
      <div id="DSPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
        <div id="DSPFPageNumberArea" style="text-align: center;"><font id="DSPFPageNumber" style="font-weight: normal; font-style: normal;">11</font></div>
        <div id="DSPFPageBreak" style="page-break-after: always;">
          <hr noshade="noshade" style="border-width: 0px; clear: both; margin: 4px 0px; width: 100%; height: 2px; color: #000000; background-color: #000000;"></div>
      </div>
      <div style="text-align: justify; margin-left: 18pt; line-height: 1.25;">The other 20% (a correction of a typo) (or less) of STI target will be measured against other measurable non-financial goals.</div>
      <div style="line-height: 1.25">&#160;</div>
      <div style="text-align: justify; margin-left: 18pt; line-height: 1.25;">The non-financial goals shall be selected out of the following list: achieving strategic objectives selected from ICL's strategic plan, completing strategic projects' milestones,
        achieving efficiency improvements' objectives, meeting safety, sustainability and environmental objectives, meeting compliance programs' objectives, meeting human resources strategic objectives and meeting merger and acquisition objectives and
        related integration objectives.</div>
      <div style="line-height: 1.25">&#160;</div>
      <div style="text-align: justify; margin-left: 18pt; line-height: 1.25;">The HR &amp; Compensation committee and the board of directors shall define at the beginning of each year the performance level, as detailed in the table below, for each
        measurable non-financial goal.</div>
      <div style="line-height: 1.25">&#160;</div>
      <div style="text-align: justify; margin-left: 18pt; line-height: 1.25;">The achievement level of each goal will be measured independently of other goals.&#160; Below are two tables which illustrate the way measurable financial goals and measurable
        non-financial goals are measured and then translated to payout factors.</div>
      <div style="line-height: 1.25">&#160;</div>
      <div style="text-align: justify; margin-left: 18pt; line-height: 1.25;"><u>Table A- Measurable </u><font style="font-weight: bold;"><u>Financial</u></font><u> goals</u>:</div>
      <div style="line-height: 1.25">&#160;</div>
      <div style="margin-left: 18pt;">
        <table cellspacing="0" cellpadding="3" border="0" style="width: 70%; color: rgb(0, 0, 0); font-family: 'Times New Roman',Times,serif; font-size: 10pt; text-align: left;" id="z8dc88b232a824ddd9d7346b7ce2734e7">

            <tr>
              <td style="width: 50%; vertical-align: top; background-color: rgb(141, 179, 226); border-top: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0);">
                <div style="text-align: justify; line-height: 1.25; font-family: 'Times New Roman', Times, serif;">Performance level</div>
              </td>
              <td style="width: 50%; vertical-align: top; background-color: rgb(141, 179, 226); border-top: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0); border-right: 1px solid rgb(0, 0, 0);">
                <div style="text-align: justify; line-height: 1.25; font-family: 'Times New Roman', Times, serif;">Payout factor</div>
              </td>
            </tr>
            <tr>
              <td style="width: 50%; vertical-align: top; border-top: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0);">
                <div style="text-align: justify; line-height: 1.25; font-family: 'Times New Roman', Times, serif;">Below 60% of budget (threshold)</div>
              </td>
              <td style="width: 50%; vertical-align: top; border-top: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0); border-right: 1px solid rgb(0, 0, 0);">
                <div style="text-align: justify; line-height: 1.25; font-family: 'Times New Roman', Times, serif;">0</div>
              </td>
            </tr>
            <tr>
              <td style="width: 50%; vertical-align: top; border-top: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0);">
                <div style="text-align: justify; line-height: 1.25; font-family: 'Times New Roman', Times, serif;">Between 60% - 90% of budget</div>
              </td>
              <td style="width: 50%; vertical-align: top; border-top: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0); border-right: 1px solid rgb(0, 0, 0);">
                <div style="text-align: justify; line-height: 1.25; font-family: 'Times New Roman', Times, serif;">0.6</div>
              </td>
            </tr>
            <tr>
              <td style="width: 50%; vertical-align: top; border-top: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0);">
                <div style="text-align: justify; line-height: 1.25; font-family: 'Times New Roman', Times, serif;">Between 90% - 120% of budget</div>
              </td>
              <td style="width: 50%; vertical-align: top; border-top: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0); border-right: 1px solid rgb(0, 0, 0);">
                <div style="text-align: justify; line-height: 1.25; font-family: 'Times New Roman', Times, serif;">0.9 &#8211; 1.2 (linear and continuous)</div>
              </td>
            </tr>
            <tr>
              <td style="width: 50%; vertical-align: top; border-top: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);">
                <div style="text-align: justify; line-height: 1.25; font-family: 'Times New Roman', Times, serif;">Above 120%</div>
              </td>
              <td style="width: 50%; vertical-align: top; border-width: 1px; border-style: solid; border-color: rgb(0, 0, 0);">
                <div style="text-align: justify; line-height: 1.25; font-family: 'Times New Roman', Times, serif;">1.5</div>
              </td>
            </tr>

        </table>
      </div>
      <div style="line-height: 1.25;"><br style="line-height: 1.25;">
      </div>
      <div style="text-align: justify; margin-left: 18pt; line-height: 1.25;"><u>Table B- Measurable </u><font style="font-weight: bold;"><u>Non-Financial</u></font><u> goals</u>:</div>
      <div style="line-height: 1.25">&#160;</div>
      <div style="margin-left: 18pt;">
        <table cellspacing="0" cellpadding="3" border="0" style="width: 70%; color: rgb(0, 0, 0); font-family: 'Times New Roman',Times,serif; font-size: 10pt; text-align: left;" id="z44d828d5c4564414bb89ddc709f0881e">

            <tr>
              <td style="width: 50%; vertical-align: top; background-color: rgb(141, 179, 226); border-top: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0);">
                <div style="text-align: justify; line-height: 1.25; font-family: 'Times New Roman', Times, serif;">Performance level</div>
              </td>
              <td style="width: 50%; vertical-align: top; background-color: rgb(141, 179, 226); border-top: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0); border-right: 1px solid rgb(0, 0, 0);">
                <div style="text-align: justify; line-height: 1.25; font-family: 'Times New Roman', Times, serif;">Payout factor</div>
              </td>
            </tr>
            <tr>
              <td style="width: 50%; vertical-align: top; border-top: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0);">
                <div style="text-align: justify; line-height: 1.25; font-family: 'Times New Roman', Times, serif;">Threshold</div>
              </td>
              <td style="width: 50%; vertical-align: top; border-top: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0); border-right: 1px solid rgb(0, 0, 0);">
                <div style="text-align: justify; line-height: 1.25; font-family: 'Times New Roman', Times, serif;">0</div>
              </td>
            </tr>
            <tr>
              <td style="width: 50%; vertical-align: top; border-top: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0);">
                <div style="text-align: justify; line-height: 1.25; font-family: 'Times New Roman', Times, serif;">Partial</div>
              </td>
              <td style="width: 50%; vertical-align: top; border-top: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0); border-right: 1px solid rgb(0, 0, 0);">
                <div style="text-align: justify; line-height: 1.25; font-family: 'Times New Roman', Times, serif;">0.6</div>
              </td>
            </tr>
            <tr>
              <td style="width: 50%; vertical-align: top; border-top: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0);">
                <div style="text-align: justify; line-height: 1.25; font-family: 'Times New Roman', Times, serif;">Good</div>
              </td>
              <td style="width: 50%; vertical-align: top; border-top: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0); border-right: 1px solid rgb(0, 0, 0);">
                <div style="text-align: justify; line-height: 1.25; font-family: 'Times New Roman', Times, serif;">0.8</div>
              </td>
            </tr>
            <tr>
              <td style="width: 50%; vertical-align: top; border-top: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);">
                <div style="text-align: justify; line-height: 1.25; font-family: 'Times New Roman', Times, serif;">Excellent</div>
              </td>
              <td style="width: 50%; vertical-align: top; border-width: 1px; border-style: solid; border-color: rgb(0, 0, 0);">
                <div style="text-align: justify; line-height: 1.25; font-family: 'Times New Roman', Times, serif;">1.0</div>
              </td>
            </tr>

        </table>
      </div>
      <div style="line-height: 1.25;"><br style="line-height: 1.25;">
      </div>
      <div id="DSPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
        <div id="DSPFPageNumberArea" style="text-align: center;"><font id="DSPFPageNumber" style="font-weight: normal; font-style: normal;">12</font></div>
        <div id="DSPFPageBreak" style="page-break-after: always;">
          <hr noshade="noshade" style="border-width: 0px; clear: both; margin: 4px 0px; width: 100%; height: 2px; color: #000000; background-color: #000000;"></div>
      </div>
      <div style="line-height: 1.25">&#160;</div>
      <div style="text-align: justify; margin-left: 18pt; line-height: 1.25;">The performance level of each goal is determined by comparing the actual relevant year performance to the goal set forth in the beginning of the year.&#160; The performance level is
        then converted to payout factor according to the above tables.&#160; Then payout factor is applied by the relative weight of the relevant goal from the STI target. All products are then being added to form the payout for measurable financial and
        measurable non-financial performance.</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="z7653b77642a84fb1bee01e9a6c400a50">

          <tr>
            <td style="width: 36pt;"><br>
            </td>
            <td style="width: 36pt; vertical-align: top; align: right;">7.2.2.</td>
            <td style="width: auto; vertical-align: top;">
              <div><u>Qualitative evaluation of the CEO overall performance</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;">20% of the STI target will be measured based on a qualitative evaluation by HR &amp; compensation committee and the board of directors of the CEO's performance during the
        relevant fiscal year.&#160; The maximum payout for this component cannot exceed the higher of 3 base monthly salaries or 25% of total actual STI payout.</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="z26040491ebc74b70a93d649630639e1f">

          <tr>
            <td style="width: 36pt;"><br>
            </td>
            <td style="width: 36pt; vertical-align: top; align: right;">7.2.3.</td>
            <td style="width: auto; vertical-align: top;">
              <div style="text-align: justify;">If either ICL operating income and/or net income actual performance (as adjusted according to paragraph 7.6 below) will not meet the threshold performance level (60% of budget), there will be no payout under
                this plan for the 80% of STI that is measured against measurable financial and measurable non-financial goals.</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="z26b20f1e9ef6472db7b2fa3a4544752c">

          <tr>
            <td style="width: 36pt;"><br>
            </td>
            <td style="width: 36pt; vertical-align: top; align: right;">7.2.4.</td>
            <td style="width: auto; vertical-align: top;">
              <div style="text-align: justify;">The maximum STI payout for the CEO cannot exceed for any given year, the lower of 130% of the CEO's target STI for such year or $1,500,000.</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="zaa31f89449bc46a0b89b4b528a237105">

          <tr>
            <td style="width: 36pt;"><br>
            </td>
            <td style="width: 36pt; vertical-align: top; align: right;">7.2.5.</td>
            <td style="width: auto; vertical-align: top;">
              <div style="text-align: justify;">In case the CEO&#8217;s employment terminates prior to the end of the fiscal year, the HR &amp; Compensation Committee and the board of directors may approve prorated STI payout for the CEO after the end year
                results are published. The prorated calculation will reduce the CEO&#8217;s Target STI relatively to his employment period during the fiscal 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="za3bf424d76144888a9a99600c05bfb58">

          <tr>
            <td style="width: 18pt;"><br>
            </td>
            <td style="width: 18pt; vertical-align: top; font-family: 'Times New Roman',Times,serif;">7.3.</td>
            <td style="width: auto; vertical-align: top;">
              <div><u>Annual STI for ICL Executive Chairman of the Board ("</u><font style="font-weight: bold;"><u>CoB</u></font><u>")</u></div>
            </td>
          </tr>

      </table>
      <div style="line-height: 1.25">&#160;</div>
      <div style="text-align: justify; margin-left: 18pt; line-height: 1.25;">The Target STI for the CoB represents the conceptual payout amount for 100% performance level (i.e. achieving weighted 100% of all targets) in a given year.&#160; The target STI for
        the CoB shall not exceed 120% of the CoB annual base salary.&#160; To the extent an Executive Chairman of the Board does not receive an annual base salary or management fee, the target STI for the CoB shall not exceed $630,000.</div>
      <div style="text-align: justify; margin-left: 18pt; line-height: 1.25;"> <br>
      </div>
      <div style="text-align: justify; margin-left: 18pt; line-height: 1.25;">30% of the CoB's STI target will be measured against the performance level of ICL EBITDA; 30% against the performance level of ICL Operating Income; 20% against the performance
        level of ICL Net Income, and 20% against the performance level of ICL Revenues. These goals will be taken from ICL budget for the relevant fiscal year, and each will be measured as adjusted according to paragraph 7.6 below. </div>
      <div style="line-height: 1.25">&#160;</div>
      <div style="text-align: justify; margin-left: 18pt; line-height: 1.25;">The achievement level of each goal will be measured independently of the other goals.&#160; The performance level of each goal is determined by comparing the actual relevant year
        performance to the goal set forth in the ICL budget.&#160; The performance level is then converted to payout factor according to <font style="font-weight: bold;">Table A</font>.&#160; Then payout factor is applied by the relative weight of the relevant goal
        from the STI target.&#160; The products are then being added to form the payout for the CoB under this plan.</div>
      <div style="line-height: 1.25">&#160;</div>
      <div id="DSPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
        <div id="DSPFPageNumberArea" style="text-align: center;"><font id="DSPFPageNumber" style="font-weight: normal; font-style: normal;">13</font></div>
        <div id="DSPFPageBreak" style="page-break-after: always;">
          <hr noshade="noshade" style="border-width: 0px; clear: both; margin: 4px 0px; width: 100%; height: 2px; color: #000000; background-color: #000000;"></div>
      </div>
      <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="z0904fb714f904d7d94bd008bd329956d">

          <tr>
            <td style="width: 36pt;"><br>
            </td>
            <td style="width: 36pt; vertical-align: top; align: right;">7.3.1.</td>
            <td style="width: auto; vertical-align: top;">
              <div style="text-align: justify;">If ICL Operating income and/or Net income (as adjusted according to paragraph 7.6 below) will not meet the threshold performance level (60% of budget), there will be no payout for the CoB under this plan.</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="zb03becb9538746349b5e20515444d2aa">

          <tr>
            <td style="width: 36pt;"><br>
            </td>
            <td style="width: 36pt; vertical-align: top; align: right;">7.3.2.</td>
            <td style="width: auto; vertical-align: top;">
              <div style="text-align: justify;">The maximum STI payout for the CoB shall not exceed, for any given fiscal year the lower of 150% of the CoB target STI or $1,000,000.</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="z81749181495645af9cca3dfcdefc813b">

          <tr>
            <td style="width: 18pt;"><br>
            </td>
            <td style="width: 18pt; vertical-align: top; font-family: 'Times New Roman',Times,serif;">7.4.</td>
            <td style="width: auto; vertical-align: top;">
              <div style="text-align: justify;">The maximum STI payout for Executive Officers, other than the CEO and Executive Chairman, shall not exceed, for any given fiscal year, the lower of 225% of the Executive Officer target STI for such year or
                $1,000,000.</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="z09712fcf4c0044b591681b502efa5c3f">

          <tr>
            <td style="width: 18pt;"><br>
            </td>
            <td style="width: 18pt; vertical-align: top; font-family: 'Times New Roman',Times,serif;">7.5.</td>
            <td style="width: auto; vertical-align: top;">
              <div style="text-align: justify;">Discretion of the Board to Reduce Bonus - The Board shall have the discretion to reduce the amount of the STI Payout of an Executive Officer in any given year, based on circumstances determined by 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" id="z60348302737c4ceaae0b725426f4cc9a">

          <tr>
            <td style="width: 18pt;"><br>
            </td>
            <td style="width: 18pt; vertical-align: top; font-family: 'Times New Roman',Times,serif;">7.6.</td>
            <td style="width: auto; vertical-align: top;">
              <div style="text-align: justify;">The Measurable Financial Goals for purposes of calculating the CEO and the Executive CoB's STI, for any given year, will be calculated according to the figures from ICL's annual reports and will be adjusted
                by applying the following adjustments<sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">4</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="z8ab53a1662fa4282985f2fd7be4e8d7f">

          <tr>
            <td style="width: 57.6pt;"><br>
            </td>
            <td style="width: 18pt; vertical-align: top; align: right;">&#8226;</td>
            <td style="width: auto; vertical-align: top;">
              <div style="text-align: justify;">Mergers, acquisitions, restructuring or divestments ("<font style="font-weight: bold;">M&amp;A</font>") of entities, businesses or assets, including adjustment of the capital gain or loss; accounting impact
                of such M&amp;A and any related costs.</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="z73c3236ebf9243199081b527d9d218ce">

          <tr>
            <td style="width: 57.6pt;"><br>
            </td>
            <td style="width: 18pt; vertical-align: top; align: right;">&#8226;</td>
            <td style="width: auto; vertical-align: top;">
              <div style="text-align: justify;">Changes in the company's applicable GAAP or new/revised accounting standards, that were not considered for purposes of determining the annual budget.</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="z5d10153cb8794a7289e8ecd4b99fcba4">

          <tr>
            <td style="width: 57.6pt;"><br>
            </td>
            <td style="width: 18pt; vertical-align: top; align: right;">&#8226;</td>
            <td style="width: auto; vertical-align: top;">
              <div>Income or expense from legal claims or tax impacts, that are not related to the current year, including tax assessments, that were not considered for purposes of determining the annual budget.</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="z3bba409649da457181371bfb6f07bc3e">

          <tr>
            <td style="width: 57.6pt;"><br>
            </td>
            <td style="width: 18pt; vertical-align: top; align: right;">&#8226;</td>
            <td style="width: auto; vertical-align: top;">
              <div>Environmental undertakings, that were not considered for purposes of determining the annual budget.</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="z603ac91f5e244b73925f054a6bc817b5">

          <tr>
            <td style="width: 57.6pt;"><br>
            </td>
            <td style="width: 18pt; vertical-align: top; align: right;">&#8226;</td>
            <td style="width: auto; vertical-align: top;">
              <div style="text-align: justify;">Income or loss resulting from updates to provisions (that are included in the last annual financial statements) due to changes in the underlying assumptions relating to: regulations, interest or exchange
                rates, that were not considered for purposes of determining the annual budget.</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="ze5784b79dfce4b1b912fed0536b59c6a">

          <tr>
            <td style="width: 57.6pt;"><br>
            </td>
            <td style="width: 18pt; vertical-align: top; align: right;">&#8226;</td>
            <td style="width: auto; vertical-align: top; text-align: justify;">
              <div>Income or loss resulting from&#160;impairment of assets, that were not considered for purposes of determining the annual budget.</div>
            </td>
          </tr>

      </table>
      <div style="line-height: 1.25;"><br style="line-height: 1.25;">
      </div>
      <div style="line-height: 1.25">
        <hr align="left" style="height: 1px; width: 10%; color: #000000; background-color: #000000; margin-left: 0px; margin-right: auto; border: none;"></div>
      <div style="text-align: justify; text-indent: -22.7pt; margin-left: 22.7pt; line-height: 1.25;"><sup style="font-family: 'Times New Roman', serif; vertical-align: text-top; line-height: 1; font-size: smaller;">4</sup>&#160;&#160;Any Adjustment (counted separately) under $2 million will not be applied.</div>
      <div style="line-height: 1.25">&#160;</div>
      <div id="DSPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
        <div id="DSPFPageNumberArea" style="text-align: center;"><font id="DSPFPageNumber" style="font-weight: normal; font-style: normal;">14</font></div>
        <div id="DSPFPageBreak" style="page-break-after: always;">
          <hr noshade="noshade" style="border-width: 0px; clear: both; margin: 4px 0px; width: 100%; height: 2px; color: #000000; background-color: #000000;"></div>
      </div>
      <div style="line-height: 1.25;"><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="z1175adb9a60d4938bd7ec571d359a9ec">

          <tr>
            <td style="width: 18pt;"><br>
            </td>
            <td style="width: 18pt; vertical-align: top; font-family: 'Times New Roman',Times,serif;">7.7.</td>
            <td style="width: auto; vertical-align: top;">
              <div><u>Compensation Recovery ("Claw-Back")</u></div>
            </td>
          </tr>

      </table>
      <div style="line-height: 1.25">&#160;</div>
      <div style="text-align: justify; margin-left: 36pt; line-height: 1.25;">Each Executive Officer will be required to refund any part of the annual bonus paid to him in excess based on financial results that are proven to be inaccurate and which are
        restated in the consolidated financial statements of the Company during the 3 years following the approval of the annual bonus by the Authorized Organs. The Authorized Organs shall decide upon the timing, form and terms of the aforementioned
        repayment. It is hereby clarified, that restatement resulting from changes to the applicable law, regulations of accounting principles will not be regarded as a restatement that will trigger this "Claw-Back" provision.</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="zf7b2f034bea646f1b927b66d95d72bd5">

          <tr>
            <td style="width: 18pt;"><br>
            </td>
            <td style="width: 18pt; vertical-align: top; font-family: 'Times New Roman',Times,serif;">7.8.</td>
            <td style="width: auto; vertical-align: top;">
              <div><u>Special Bonus</u></div>
            </td>
          </tr>

      </table>
      <div style="line-height: 1.25">&#160;</div>
      <div style="text-align: justify; margin-left: 35.45pt; line-height: 1.25;">The Company may grant, subject to approvals required by law, a special bonus for those of the Executive Officers that have shown a unique contribution and/or considerable
        efforts and/or special achievements, that were accomplished &#8203;&#8203;as part of a unique or extraordinary business activity, or other special circumstances, and that the Executive Officer was dominant in their achievement (the "<font style="font-weight: bold;">Special Bonus</font>"). The Special Bonus will be determined by quantitative and/or qualitative parameters (which shall be disclosed in retrospect in accordance with the provisions of the law), and the personal contribution of the
        Executive Officer.</div>
      <div style="line-height: 1.25">&#160;</div>
      <div style="text-align: justify; margin-left: 35.45pt; line-height: 1.25;">The maximum Special Bonus payout with respect to the CEO in any given year cannot exceed the difference between 3 base monthly salaries and the components of the Annual STI
        payout under the Annual Plan that are not determined in accordance with measurable parameters. The maximum Special Bonus with respect to the Executive Chairman in any given year cannot exceed 3 base monthly salaries.</div>
      <div style="line-height: 1.25">&#160;</div>
      <div style="text-align: justify; margin-left: 35.45pt; line-height: 1.25;">The maximum Special Bonus payout with respect to any other Executive Officer in any given year cannot exceed 6 base monthly salaries.</div>
      <div style="line-height: 1.25">&#160;</div>
      <div style="text-align: justify; margin-left: 35.45pt; line-height: 1.25;">The Special Bonus is a separate bonus from the STI under the STI Plan mentioned above.</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="z47d39c449a934b8394a6ee945b56d810">

          <tr>
            <td style="width: 18pt; vertical-align: top; align: right;">8.</td>
            <td style="width: auto; vertical-align: top;">
              <div style="font-weight: bold;">Equity-Based Compensation</div>
            </td>
          </tr>

      </table>
      <div style="line-height: 1.25">&#160;</div>
      <div style="margin: 0px 0px 0px 18pt; line-height: 1.25; text-align: justify;">From time to time, ICL may offer its Executive Officers an equity-based compensation in the framework of an equity-based compensation plan (the "<font style="font-weight: bold;">Long Term Incentive Plan</font>" or "<font style="font-weight: bold;">LTI</font>"), aiming to retain the Executive Officers in their offices for long-term periods, while creating compensation that connects, for a long-term period, between
        the Executive Officers&#8217; interest and the interest of the shareholders of the Company. The scope of LTI compensation granted to an Executive Officer shall be determined in accordance with each Executive Officer's position, responsibilities,
        achievements and skills. Such long-term plans shall be subject to the following criteria:</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="z68b856b49ef34639929680a479f0f4cd">

          <tr>
            <td style="width: 18pt;"><br>
            </td>
            <td style="width: 18pt; vertical-align: top; font-family: 'Times New Roman',Times,serif;">8.1.</td>
            <td style="width: auto; vertical-align: top;">
              <div style="font-family: 'Times New Roman',Times,serif; text-align: justify;">
                <div style="line-height: 1.25;">Long term incentives may be granted in the form of stock options, <strike>restricted shares, restricted</strike>&#160;<strike>share units (RSU), </strike>Performance&#8208;based restricted shares, Performance&#8208;based
                  restricted share units or other <u>performance&#8208;based </u>equity&#8208;based compensation vehicles ("<font style="font-weight: bold;">LTI Awards</font>"). Vesting and/or release from restriction of restricted shares and restricted share units
                  may be subject to the Company's and/or the Executive Officer's performance.</div>
              </div>
            </td>
          </tr>

      </table>
      <div style="line-height: 1.25">&#160;</div>
      <div style="line-height: 1.25"></div>
      <div id="DSPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
        <div id="DSPFPageNumberArea" style="text-align: center;"><font id="DSPFPageNumber" style="font-weight: normal; font-style: normal;">15</font></div>
        <div id="DSPFPageBreak" style="page-break-after: always;">
          <hr noshade="noshade" style="border-width: 0px; clear: both; margin: 4px 0px; width: 100%; height: 2px; color: #000000; background-color: #000000;"></div>
      </div>
      <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="z68caa1e0a47f45ffb28bd86e84041bf6">

          <tr>
            <td style="width: 18pt;"><br>
            </td>
            <td style="width: 18pt; vertical-align: top; font-family: 'Times New Roman',Times,serif;">8.2.</td>
            <td style="width: auto; vertical-align: top;">
              <div style="text-align: justify;">
                <div style="line-height: 1.25">
                  <div style="line-height: 1.25; font-family: 'Times New Roman',Times,serif;">Each LTI Award shall be subject to a minimum vesting period over at least three (3) years, <u>with a</u>&#160;<u>minimal vesting period of 12 months for the first
                      portion of the LTI awards, </u>and subject to the continuing service of the Executive Officer. Unless otherwise approved by the relevant authorized organs, vesting of outstanding long&#8208;term LTI Awards may be pro&#8208;rated for time and/or
                    performance for departing Executive Officers. The terms of LTI Awards may include provisions for acceleration of vesting in certain events and corporate transactions, such as in the event of a merger, a consolidation, and an acquisition
                    of the Company or of its assets or certain retirement provisions (as these terms will be defined in the applicable LTI compensation plan). Acceleration of LTI Awards will be allowed only in certain circumstances determined by the
                    applicable authorized organs.</div>
                </div>
              </div>
            </td>
          </tr>

      </table>
      <div style="line-height: 1.25">&#160;</div>
      <div style="line-height: 1.25">
        <div style="text-align: justify; line-height: 1.25; font-family: 'Times New Roman',Times,serif;"></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="z65f3dd4b7202465ebab907c7d6bf7523">

          <tr>
            <td style="width: 18pt;"><br>
            </td>
            <td style="width: 18pt; vertical-align: top; font-family: 'Times New Roman',Times,serif;">8.3.</td>
            <td style="width: auto; vertical-align: top;">
              <div style="text-align: justify;">The exercise price of any stock option will be no less than the average 30 trading days of ICL&#8217;s last known as adjusted to dividend share price during the period prior to the date of Board's approval/grant
                date, as applicable.&#160;&#160; The exercise price may be linked to the Israeli consumer price index. The exercise price may include an adjustment to dividend, to the extent distributed by the Company, and an adjustment to additional events in the
                Company's share capital, such as: distribution of bonus shares, rights issuance, consolidation or split of share capital, 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="z3aa098bc16fc434592405a9f911862aa">

          <tr>
            <td style="width: 18pt;"><br>
            </td>
            <td style="width: 18pt; vertical-align: top; font-family: 'Times New Roman',Times,serif;">8.4.</td>
            <td style="width: auto; vertical-align: top;">
              <div style="text-align: justify;">The exercise period of the options shall be of no more than ten (10) full years from the date of grant.</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="ze4110dbed17f410ab376ee39adb0e551">

          <tr>
            <td style="width: 18pt;"><br>
            </td>
            <td style="width: 18pt; vertical-align: top; font-family: 'Times New Roman',Times,serif;">8.5.</td>
            <td style="width: auto; vertical-align: top;">
              <div style="text-align: justify;">The total potential dilution from outstanding and proposed LTI plans will not exceed 10 percent. The restrictions described in paragraph 8.5 will not be applicable in case of grant of LTI Awards-based
                compensation to management and employees of a target company, in the event of a merger or acquisition of the target 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="z5231aa98bcd44d18b09d5932364eea9e">

          <tr>
            <td style="width: 18pt;"><br>
            </td>
            <td style="width: 18pt; vertical-align: top; font-family: 'Times New Roman',Times,serif;">8.6.</td>
            <td style="width: auto; vertical-align: top;">
              <div style="text-align: justify;">LTI Awards granted to an Executive Officer, will not exceed in value (based on accepted valuation methods), on the date of grant, per one (1) vesting annum, the following amounts:<sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">5</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="z62f13366ef844b649fe0fa0cdd138686">

          <tr>
            <td style="width: 58.7pt;"><br>
            </td>
            <td style="width: 18pt; vertical-align: top; align: right;">o</td>
            <td style="width: auto; vertical-align: top;">
              <div>Executive Chairman of the Board &#8211; $1,380,000<sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">6</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="z78bf0cfb33c548f6be5914a639a11639">

          <tr>
            <td style="width: 58.7pt;"><br>
            </td>
            <td style="width: 18pt; vertical-align: top; align: right;">o</td>
            <td style="width: auto; vertical-align: top;">
              <div>CEO &#8211; $1,725,000</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="ze49e75373d9245ad91c8f0f96f7aba5c">

          <tr>
            <td style="width: 58.7pt;"><br>
            </td>
            <td style="width: 18pt; vertical-align: top; align: right;">o</td>
            <td style="width: auto; vertical-align: top;">
              <div>Other Executive Officers &#8211; $1,150,000</div>
            </td>
          </tr>

      </table>
      <div style="line-height: 1.25">&#160;</div>
      <div style="line-height: 1.25">
        <hr align="left" style="height: 1px; width: 10%; color: #000000; background-color: #000000; margin-left: 0px; margin-right: auto; border: none;">
        <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: 22.7pt; vertical-align: top; align: right;"><sup style="font-family: 'Times New Roman', serif; vertical-align: text-top; line-height: 1; font-size: smaller;">5</sup></td>
              <td style="width: auto; vertical-align: top;">
                <div style="text-align: justify;">The Israeli Shekels (ILS) cap amounts remain unchanged compared to the previous compensation policy. CAPS in USD denominated amounts have been adjusted to reflect an appreciation of 15% of USD/ILS exchange
                  rate from January 2019 through the date of the approval of the new compensation policy by the board of directors</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: 22.7pt; vertical-align: top; align: right;"><sup style="font-family: 'Times New Roman', serif; vertical-align: text-top; line-height: 1; font-size: smaller;">6</sup></td>
              <td style="width: auto; vertical-align: top;">
                <div style="text-align: justify;">$1,380,000 is maximum value for an Executive CoB that does not receive base salary.&#160; The maximum value for an Executive CoB that does receive base salary is $1,150,000.</div>
              </td>
            </tr>

        </table>
      </div>
      <div id="DSPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
        <div id="DSPFPageNumberArea" style="text-align: center;"><font id="DSPFPageNumber" style="font-weight: normal; font-style: normal;">16</font></div>
        <div id="DSPFPageBreak" style="page-break-after: always;">
          <hr noshade="noshade" style="border-width: 0px; clear: both; margin: 4px 0px; width: 100%; height: 2px; color: #000000; background-color: #000000;"></div>
      </div>
      <div style="text-align: justify; margin-left: 21.25pt; line-height: 1.25;">In addition, the Authorized Organs may consider determining a cap for the benefit deriving from the exercise of LTI Awards for any specific grant.</div>
      <div style="line-height: 1.25">&#160;</div>
      <div style="text-align: justify; margin-left: 21.25pt; line-height: 1.25;">Except in cases of transactions that the Company is party to, that include, among others, distribution of shares in kind, stock split, consolidation of stock, payment of
        dividend, merger, reorganization, split or share exchange, the conditions of the equity-based grant will not be changed in a way of reduction of the exercise price of the options granted or cancellation of options in exchange for cash or in
        exchange for options with an exercise price that is lower than the exercise price of the options that were already approved.</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="zb22e99189f944d5ea47f6265630b7f22">

          <tr>
            <td style="width: 18pt;"><br>
            </td>
            <td style="width: 18pt; vertical-align: top; font-family: 'Times New Roman',Times,serif;">8.7.</td>
            <td style="width: auto; vertical-align: top;">
              <div style="text-align: justify;">The HR &amp; Compensation committee and the Board may resolve in the future to introduce shareholding guidelines to Executive Officers, according to which, Executive Officers will be required to hold a
                minimum number or value of shares, not inclusive of unvested holdings in unvested LTI Awards.</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="z11fbb153267a4ddf888578d06674c9d3">

          <tr>
            <td style="width: 18pt; vertical-align: top; align: right;">9.</td>
            <td style="width: auto; vertical-align: top;">
              <div style="font-weight: bold;">Retirement arrangements</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="z5ea44242fb2e46638059401865de86b3">

          <tr>
            <td style="width: 18pt;"><br>
            </td>
            <td style="width: 18pt; vertical-align: top; font-family: 'Times New Roman',Times,serif;">9.1</td>
            <td style="width: auto; vertical-align: top;">
              <div style="text-align: justify;">All of the Executive Officers may be entitled to release of funds accumulated in their favor and in their name in designated compensation funds for pension benefits and severance pay. To certain Executive
                Officers, additional funds may be paid, if and when there is a difference between the funds that were actually accumulated in the designated funds and the amount that equals their last base monthly salary upon termination multiplied by the
                number of years of seniority accumulated in 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="z3f8a6b9ab27b46f0be7445df9716e052">

          <tr>
            <td style="width: 18pt;">&#160;</td>
            <td style="width: 18pt; vertical-align: top; font-family: 'Times New Roman',Times,serif;">9.2</td>
            <td style="width: auto; vertical-align: top;">
              <div><u>Advance Notice</u></div>
            </td>
          </tr>

      </table>
      <div style="line-height: 1.25">&#160;</div>
      <div style="text-align: justify; margin-left: 36pt; line-height: 1.25;">ICL's Executive Officers shall be entitled to an advance notice upon termination as specified in the table below ("<font style="font-weight: bold;">Advance Notice Period</font>"),




        and as shall be determined in the applicable employment agreement (or any amendment thereof).</div>
      <div style="text-align: justify; margin-left: 36pt; line-height: 1.25;"> <br>
      </div>
      <div style="margin-left: 36pt;">
        <table cellspacing="0" cellpadding="3" border="0" style="width: 70%; color: rgb(0, 0, 0); font-family: 'Times New Roman',Times,serif; font-size: 10pt; text-align: left;" id="z5da24263292949899d3a19610f2011d0">

            <tr>
              <td style="width: 30.57%; vertical-align: top; border-top: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0);">
                <div style="text-align: justify; line-height: 1.25; font-family: 'Times New Roman', Times, serif; font-weight: bold;">Executive Officer</div>
              </td>
              <td style="width: 69.43%; vertical-align: top; border-top: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0); border-right: 1px solid rgb(0, 0, 0);">
                <div style="text-align: justify; line-height: 1.25; font-family: 'Times New Roman', Times, serif; font-weight: bold;">Advance Notice Period</div>
              </td>
            </tr>
            <tr>
              <td style="width: 30.57%; vertical-align: top; border-top: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0);">
                <div style="text-align: justify; line-height: 1.25; font-family: 'Times New Roman', Times, serif;">Executive Chairman, CEO</div>
              </td>
              <td style="width: 69.43%; vertical-align: top; border-top: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0); border-right: 1px solid rgb(0, 0, 0);">
                <div style="text-align: justify; line-height: 1.25; font-family: 'Times New Roman', Times, serif;">Up to 12 months</div>
              </td>
            </tr>
            <tr>
              <td style="width: 30.57%; vertical-align: top; border-top: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);">
                <div style="text-align: justify; line-height: 1.25; font-family: 'Times New Roman', Times, serif;">Other Executive Officers</div>
              </td>
              <td style="width: 69.43%; vertical-align: top; border-width: 1px; border-style: solid; border-color: rgb(0, 0, 0);">
                <div style="text-align: justify; line-height: 1.25; font-family: 'Times New Roman', Times, serif;">Up to 6 months</div>
              </td>
            </tr>

        </table>
      </div>
      <div style="line-height: 1.25;"><br style="line-height: 1.25;">
      </div>
      <div style="text-align: justify; margin-left: 36pt; line-height: 1.25;">During the Advance Notice Period, the Executive Officer may be required to continue to be employed by or provide services to the Company. During the Advance Notice Period, the
        Executive Officer may be entitled to all of his or her compensation terms, including STI payouts and continued vesting of his existing LTI plans. With respect to the CEO - for any period in which the CEO is not actually providing services to the
        Company throughout the notice period, the CEO's STI payout for such period will be calculated with 50% of the CEO's STI target measured against the performance level of ICL net income (as adjusted according to paragraph 7.6 above) and 50% of the
        CEO's STI target measured against the performance level of ICL operating income (as adjusted according to paragraph 7.6 above). These goals will be taken from ICL budget for the relevant fiscal year. It is clarified, that with respect to the CEO,
        during such period the STI formula provided in Section 7.2 above will not be applied, nor will the discretionary qualitative evaluation part of the formula.</div>
      <div style="line-height: 1.25">&#160;</div>
      <div id="DSPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
        <div id="DSPFPageNumberArea" style="text-align: center;"><font id="DSPFPageNumber" style="font-weight: normal; font-style: normal;">17</font></div>
        <div id="DSPFPageBreak" style="page-break-after: always;">
          <hr noshade="noshade" style="border-width: 0px; clear: both; margin: 4px 0px; width: 100%; height: 2px; color: #000000; background-color: #000000;"></div>
      </div>
      <div style="text-align: justify; margin-left: 36pt; line-height: 1.25;">To the extent an Executive Chairman of the Board does not receive a monthly base salary or management fee, he may still continue to be entitled to his terms of tenure for an
        additional period of 12 month following his end of tenure, including, for avoidance of any doubt, his annual STI payout and continued vesting of his existing LTI plans during such period.</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="z34e1b9413e1949ca94c1f079a3b1764b">

          <tr>
            <td style="width: 18pt;">&#160;</td>
            <td style="width: 18pt; vertical-align: top; font-family: 'Times New Roman',Times,serif;">9.3</td>
            <td style="width: auto; vertical-align: top;">
              <div><u>Adjustment Period and non-compete obligations</u></div>
            </td>
          </tr>

      </table>
      <div style="line-height: 1.25">&#160;</div>
      <div style="text-align: justify; margin-left: 35.45pt; line-height: 1.25;">In addition, ICL's Executive Officers may be entitled to an adjustment period of up to 6 months (the "<font style="font-weight: bold;">Adjustment Period</font>"), during which
        the Executive Officer may be entitled to the base salary and Social Benefits, while the Executive CoB may also be entitled to all of his other compensation terms, including STI payouts and continued vesting of his existing LTI plans. The Executive
        Officer may be obliged to obligate to non-compete provisions during the Adjustment Period. The Adjustment Period may apply only to such Executive Officer that his employment was not terminated as a result of "cause" or other circumstances that
        according to the Authorized Organ entitles evocation of severance payments. The Adjustment Period will be determined while taking into account the following considerations: the period of service or employment of the Executive Officer, the
        employment terms during the Executive Officer's service or employment period, ICL's corporate performance during such period, Executive Officer's contribution to the achievement of ICL's objectives and performance, and the particular circumstances
        of termination of employment or service. Eligibility for the aforementioned Adjustment Period will not be given as a matter of routine, and it will be included in the terms of employment of the Executive Officer, according to the terms of this
        section, only if the Authorized Organs will be of an opinion that in the specific circumstances exists a special need for the inclusion of this condition, in order to recruit or retain the specific Executive Officer.</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="z541d917131084a07830604850c83bf2b">

          <tr>
            <td style="width: 18pt;">&#160;</td>
            <td style="width: 18pt; vertical-align: top; font-family: 'Times New Roman',Times,serif;">9.4</td>
            <td style="width: auto; vertical-align: top;">
              <div><u>Termination Grant</u></div>
            </td>
          </tr>

      </table>
      <div style="line-height: 1.25">&#160;</div>
      <div style="text-align: justify; margin-left: 35.45pt; line-height: 1.25;">In addition to the above, the Authorized Organs may determine that an Executive Officer may be granted a termination payment (the "<font style="font-weight: bold;">Termination
          Grant</font>"), provided the Executive Officer was employed by, or provided services to, the Company for at least one (1) year. The Termination Grant shall be determined while considering: the period of service or employment of the Executive
        Officer, the employment terms during the Executive Officer's service or employment period, ICL's corporate performance during such period, Executive Officer's contribution to the achievement of ICL's objectives and performance, and the particular
        circumstances of termination of employment or service.</div>
      <div style="line-height: 1.25">&#160;</div>
      <div id="DSPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
        <div id="DSPFPageNumberArea" style="text-align: center;"><font id="DSPFPageNumber" style="font-weight: normal; font-style: normal;">18</font></div>
        <div id="DSPFPageBreak" style="page-break-after: always;">
          <hr noshade="noshade" style="border-width: 0px; clear: both; margin: 4px 0px; width: 100%; height: 2px; color: #000000; background-color: #000000;"></div>
      </div>
      <div style="text-align: justify; margin-left: 36pt; line-height: 1.25;">Eligibility for the aforementioned Termination Grant will either be included in the terms of employment of the Executive Officer, if the Authorized Organs will be of an opinion
        that in the specific circumstances exists a special need for the inclusion of this condition, in order to recruit or retain the specific Executive Officer or approved by the Authorized Organs prior to termination of employment.</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="z34880e709d8b4c279c50948042d4b1b8">

          <tr>
            <td style="width: 18pt;">&#160;</td>
            <td style="width: 18pt; vertical-align: top; font-family: 'Times New Roman',Times,serif;">9.5</td>
            <td style="width: auto; vertical-align: top;">
              <div><u>Termination Grant upon Change of Control</u></div>
            </td>
          </tr>

      </table>
      <div style="line-height: 1.25; text-align: justify;">&#160;</div>
      <div style="text-align: justify; margin-left: 36pt; line-height: 1.25;">In addition, ICL Executive Officers may be entitled to a one-time payment of up to 1 annual base salary, upon involuntary termination of the Executive Officer's employment with
        the Company, or a material demotion in the Executive Officer's position in the Company and/or in his terms of employment, during a 24-month period following the occurrence of a change in control of the Company (as defined by the Authorized Organs
        or in a relevant employment agreement or plan).<font style="background-color: rgb(0, 255, 0);">&#160;</font>Such arrangement enables retention and certainty for Executive Officers to support potential transactions that may be beneficial to shareholders.</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="z1c0dc1998edc434289dc1a57033578c5">

          <tr>
            <td style="width: 18pt;">&#160;</td>
            <td style="width: 18pt; vertical-align: top; font-family: 'Times New Roman',Times,serif;">9.6</td>
            <td style="width: auto; vertical-align: top;">
              <div><u>Acceleration of LTI Awards</u></div>
            </td>
          </tr>

      </table>
      <div style="line-height: 1.25">&#160;</div>
      <div style="text-align: justify; margin-left: 35.45pt; line-height: 1.25;">The terms of LTI Awards may include provision for acceleration of vesting in certain circumstances of termination or cessation of service initiated by the Company or as a
        result of change of control.</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="za1ecdc512c3148c09658e89973d15e35">

          <tr>
            <td style="width: 18pt;">&#160;</td>
            <td style="width: 18pt; vertical-align: top; font-family: 'Times New Roman',Times,serif;">9.7</td>
            <td style="width: auto; vertical-align: top;">
              <div style="text-align: justify;">The aggregate amounts paid to Executive Officers <font style="font-weight: bold;"><u>pursuant to Sections 9.2 to 9.4, shall not exceed an amount equal to 12 months base salary</u></font>, except for a few
                existing Executive Officers or employees that will be appointed as Executive Officers, that according to previous commitments of the company to them, are entitled to severance pay in amounts that together with their other termination
                benefits exceed the aforementioned maximum.</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="z040c157763ef4c10bb6494371f74463e">

          <tr>
            <td style="width: 18pt; vertical-align: top; align: right;">10.</td>
            <td style="width: auto; vertical-align: top;">
              <div style="font-weight: bold;">Compensation of Members of the Board</div>
            </td>
          </tr>

      </table>
      <div style="line-height: 1.25">&#160;</div>
      <div style="text-align: justify; line-height: 1.25;">The compensation of the Company&#8217;s non-executive members of the Board ("<font style="font-weight: bold;">Directors</font>"), may be comprised of a per-meeting compensation and/or an annual
        compensation and/or board committee chair compensation and/or board committee member compensation and/or LTI (as discussed below), all subject to any applicable law.&#160; Non-executive directors are not eligible to participate in the company's pension
        plans.</div>
      <div style="line-height: 1.25">&#160;</div>
      <div style="text-align: justify; line-height: 1.25;">In addition, ICL may reimburse or cover certain expenses of the Directors (including travel expenses) incurred in attending Board and committee meetings or performing other services for ICL in
        their capacity as directors.</div>
      <div style="line-height: 1.25">&#160;</div>
      <div style="line-height: 1.25">
        <div style="text-align: justify; line-height: 1.25; font-family: 'Times New Roman',Times,serif;">Non&#8208;executive Directors <u>(excluding directors whom are office holders of Israel Corporation Ltd.) </u>may be eligible to participate in the
          Company&#8217;s LTI plans. The value of the LTI Awards granted to a non&#8208;executive Director on the date of grant, will not exceed (based on accepted valuation methods), <strike>per vesting annum,</strike>&#160;<u>50% of the total value of the fixed
            directors' compensation, including per meeting compensation,</u><strike>an</strike><u> per</u>&#160;<u>vesting annum</u><strike>amount of $250,000</strike>. The terms of LTI Awards for non&#8208;executive directors may include provision for acceleration
          of vesting in certain circumstances of termination or cessation of service.<sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">7</sup> The Non&#8208;executive directors will not be entitled to any performance based LTIs nor LTI in the form of options.</div>
      </div>
      <div style="line-height: 1.25"> <br>
      </div>
      <div style="line-height: 1.25">
        <hr align="left" style="height: 1px; width: 10%; color: #000000; background-color: #000000; margin-left: 0px; margin-right: auto; border: none;">
        <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: 22.7pt; vertical-align: top; align: right;"><sup style="font-family: 'Times New Roman', serif; vertical-align: text-top; line-height: 1; font-size: smaller;">7</sup></td>
              <td style="width: auto; vertical-align: top;">
                <div>In this regards it should be clarified, that termination of a Director's term and renewal for an additional term will not be regarded as termination of service.</div>
              </td>
            </tr>

        </table>
        <div style="line-height: 1.25">&#160;</div>
      </div>
      <div id="DSPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
        <div id="DSPFPageNumberArea" style="text-align: center;"><font id="DSPFPageNumber" style="font-weight: normal; font-style: normal;">19</font></div>
        <div id="DSPFPageBreak" style="page-break-after: always;">
          <hr noshade="noshade" style="border-width: 0px; clear: both; margin: 4px 0px; width: 100%; height: 2px; color: #000000; background-color: #000000;"></div>
      </div>
      <div style="text-align: justify; line-height: 1.25;">Directors that take on executive roles (for example, an Executive Chairman of the Board) will be subject to the provisions of this policy that apply to Executive Officers (as defined above).</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="zd298848b39c2448ab3dc66a38ce96189">

          <tr>
            <td style="width: 18pt; vertical-align: top; align: right;">11.</td>
            <td style="width: auto; vertical-align: top;">
              <div style="font-weight: bold;">Management Fee</div>
            </td>
          </tr>

      </table>
      <div style="line-height: 1.25">&#160;</div>
      <div style="text-align: justify; line-height: 1.25;">Subject to approval by the Authorized Organs, ICL may pay its controlling shareholder (as such term is defined under the law) annual management fees, which will equal the compensation for services
        provided to the Company by Executive Officers, including members of the Board, that are employed by, or providing services to, said Controlling Shareholder.</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="z6c6ef40b87e3479898086f0f6db9efb7">

          <tr>
            <td style="width: 18pt; vertical-align: top; align: right;">12.</td>
            <td style="width: auto; vertical-align: top;">
              <div style="font-weight: bold;">Exculpation, Indemnification and Insurance</div>
            </td>
          </tr>

      </table>
      <div style="line-height: 1.25">&#160;</div>
      <div style="text-align: justify; line-height: 1.25;">ICL may exculpate its Executive Officers (including its Directors) from a breach of duty of care, and may indemnify its Executive Officers (including its Directors) for any liability and expense
        that may be imposed on them, to the extent permitted by applicable law. ICL may provide insurance coverage through directors and officers liability insurance to its Executive Officers (including its Directors). The maximum aggregate coverage for
        any such insurance policy will not exceed $350 Million, as may be increased from time to time by the approval of the Authorized Organs.</div>
      <div style="line-height: 1.25">&#160;</div>
      <div id="DSPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
        <div id="DSPFPageNumberArea" style="text-align: center;"><font id="DSPFPageNumber" style="font-weight: normal; font-style: normal;">20</font></div>
        <div id="DSPFPageBreak" style="page-break-after: always;">
          <hr noshade="noshade" style="border-width: 0px; clear: both; margin: 4px 0px; width: 100%; height: 2px; color: #000000; background-color: #000000;"></div>
      </div>
      <div style="text-align: center; line-height: 1.25; font-weight: bold;">SIGNATURE</div>
      <div style="text-align: center; line-height: 1.25;">&#160;</div>
      <div style="text-indent: 18pt; 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="text-indent: 18pt; line-height: 1.25;">&#160;</div>
      <table cellspacing="0" cellpadding="0" border="0" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" id="ze649d16236364e678d12171e60012a5e">

          <tr>
            <td style="width: 50%; vertical-align: top;">
              <div style="line-height: 1.25;">&#160;</div>
            </td>
            <td colspan="3" style="vertical-align: top;">
              <div style="line-height: 1.25; font-weight: bold;">ICL Group Ltd.</div>
            </td>
            <td colspan="1" style="width: 17%; vertical-align: top;">&#160;</td>
          </tr>
          <tr>
            <td style="width: 50%; vertical-align: top;">
              <div style="line-height: 1.25;">&#160;</div>
            </td>
            <td colspan="3" style="vertical-align: top;">
              <div style="line-height: 1.25;">&#160;</div>
            </td>
            <td colspan="1" style="width: 17%; vertical-align: top;">&#160;</td>
          </tr>
          <tr>
            <td style="width: 50%; vertical-align: top; padding-bottom: 2px;">
              <div style="line-height: 1.25;">&#160;</div>
            </td>
            <td style="width: 3%; vertical-align: top; padding-bottom: 2px;">
              <div style="line-height: 1.25;">By:</div>
            </td>
            <td colspan="2" style="vertical-align: top; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="line-height: 1.25;">/s/ Aviram Lahav</div>
            </td>
            <td colspan="1" style="width: 17%; vertical-align: top; padding-bottom: 2px;">&#160;</td>
          </tr>
          <tr>
            <td style="width: 50%; vertical-align: top;">
              <div style="line-height: 1.25;">&#160;</div>
            </td>
            <td style="width: 3%; vertical-align: top;">
              <div style="line-height: 1.25;">&#160;</div>
            </td>
            <td style="width: 4%; vertical-align: top;">
              <div style="line-height: 1.25;">Name:</div>
            </td>
            <td style="width: 26%; vertical-align: top;">
              <div style="line-height: 1.25;">Aviram Lahav</div>
            </td>
            <td colspan="1" style="width: 17%; vertical-align: top;">&#160;</td>
          </tr>
          <tr>
            <td style="width: 50%; vertical-align: top;">
              <div style="line-height: 1.25;">&#160;</div>
            </td>
            <td style="width: 3%; vertical-align: top;">
              <div style="line-height: 1.25;">&#160;</div>
            </td>
            <td style="width: 4%; vertical-align: top;">
              <div style="line-height: 1.25;">Title:</div>
            </td>
            <td style="width: 26%; vertical-align: top;">
              <div style="line-height: 1.25;">Chief Financial Officer</div>
            </td>
            <td colspan="1" style="width: 17%; vertical-align: top;">&#160;</td>
          </tr>

      </table>
      <div style="line-height: 1.25;">&#160;</div>
      <table cellspacing="0" cellpadding="0" border="0" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" id="z35a09dbd84724e68a63f0f5810b609a5">

          <tr>
            <td style="width: 50%; vertical-align: top;">
              <div style="line-height: 1.25;">&#160;</div>
            </td>
            <td colspan="3" style="vertical-align: top;">
              <div style="line-height: 1.25; font-weight: bold;">ICL Group Ltd.</div>
            </td>
            <td colspan="1" style="width: 17%; vertical-align: top;">&#160;</td>
          </tr>
          <tr>
            <td style="width: 50%; vertical-align: top;">
              <div style="line-height: 1.25;">&#160;</div>
            </td>
            <td colspan="3" style="vertical-align: top;">
              <div style="line-height: 1.25;">&#160;</div>
            </td>
            <td colspan="1" style="width: 17%; vertical-align: top;">&#160;</td>
          </tr>
          <tr>
            <td style="width: 50%; vertical-align: top; padding-bottom: 2px;">
              <div style="line-height: 1.25;">&#160;</div>
            </td>
            <td style="width: 3%; vertical-align: top; padding-bottom: 2px;">
              <div style="line-height: 1.25;">By:</div>
            </td>
            <td colspan="2" style="vertical-align: top; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="line-height: 1.25;">/s/ Aya Landman</div>
            </td>
            <td colspan="1" style="width: 17%; vertical-align: top; padding-bottom: 2px;">&#160;</td>
          </tr>
          <tr>
            <td style="width: 50%; vertical-align: top;">
              <div style="line-height: 1.25;">&#160;</div>
            </td>
            <td style="width: 3%; vertical-align: top;">
              <div style="line-height: 1.25;">&#160;</div>
            </td>
            <td style="width: 4%; vertical-align: top;">
              <div style="line-height: 1.25;">Name:</div>
            </td>
            <td style="width: 26%; vertical-align: top;">
              <div style="line-height: 1.25;">Aya Landman</div>
            </td>
            <td colspan="1" style="width: 17%; vertical-align: top;">&#160;</td>
          </tr>
          <tr>
            <td style="width: 50%; vertical-align: top;">
              <div style="line-height: 1.25;">&#160;</div>
            </td>
            <td style="width: 3%; vertical-align: top;">
              <div style="line-height: 1.25;">&#160;</div>
            </td>
            <td style="width: 4%; vertical-align: top;">
              <div style="line-height: 1.25;">Title:</div>
            </td>
            <td style="width: 26%; vertical-align: top;">
              <div style="line-height: 1.25;">VP, Company Secretary &amp; Global Compliance</div>
            </td>
            <td colspan="1" style="width: 17%; vertical-align: top;">&#160;</td>
          </tr>

      </table>
      <div style="text-align: justify; line-height: 1.25;">&#160;</div>
      <div style="text-align: justify; line-height: 1.25;">Date: March 23, 2022</div>
      <div style="line-height: 1.25;"><br style="line-height: 1.25;">
      </div>
    </div>
  </div>
  <div id="DSPFPageNumberArea" style="text-align: center;"><font id="DSPFPageNumber" style="font-weight: normal; font-style: normal;">21</font>
    <hr align="center" style="border: none; border-bottom: 4px solid black; border-top: 1px solid black; height: 10px; color: #ffffff; background-color: #ffffff; margin-left: auto; margin-right: auto;"></div>
</body>
</html>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
