Company: GAUZ
Filing Date: 2025-03-11
Form Type: 20-F
Source: 0001213900-25-022437
Chunk: 183

Company: Gauzy Ltd.
Filing Date: 2025-03-11
Form: 20-F
Item: Item 19
Chunk 183
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  2026                       172  
  2027                         -  
  2028                       119  
  2029                       259  
  2030 and thereafter      8,275  
  Total payments           8,906  

  (*)      presented as part of employee related obligations  

F-34

GAUZY LTD.

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (continued)

(U. S. dollars in thousands, except share and per
share amounts)

NOTE 11 - COMMITMENTS AND CONTINGENT LIABILITIES(continued):

Weighted-average assumptions used to
determine net benefit cost for 2024 were as follows:

                                                        2024  
  Discount rate                                         3.38  
  Rate of compensation increase                            3  
  Turnover rate                                          5.0  
  Expected long-term rate of return on plan assets      3.38  

NOTE 12 - LEASES:

The Group enters into operating leases
of research and development facilities, production facilities and executive offices in Israel, production facilities in Germany, buildings,
equipment, leases in France, and offices in the United States and China, under several lease agreements. Vision also enters into financing
leases of production equipment, machines and molds in France.

The lease agreements for the facilities
in Israel are denominated in NIS and linked to the Israeli consumer price index (“ CPI”). The lease agreements in Germany and
France are denominated in Euro. The lease agreements for the facilities in the United States are denominated in USD. The lease agreements
for the facilities in the China are denominated in RMB.

The remaining lease terms are up to10years as of December 31, 2024, including the option to extend the lease period. Vision has an option to purchase the production equipment
at the end of the lease.

In addition, the Company provided
a rental security in the form of restricted bank deposit of total $139, and rental securities in the form of restricted deposit of total
$89, in order to secure the lease agreements.

The Company entered into operating
lease agreements in connection with the leasing of several vehicles. The lease periods are generally for three years and the payments
are linked to the Israeli CPI or are denominated in Euro. To secure the terms of the lease agreements in Israel, the Company has made
certain prepayments to the leasing company, representing approximately three months of lease payments. These amounts have been recorded
as part of the operating lease right to