Company: TSEM
Filing Date: 2025-04-30
Form Type: 20-F
Source: 0001178913-25-001537
Chunk: 235

Company: TOWER SEMICONDUCTOR LTD
Filing Date: 2025-04-30
Form: 20-F
Item: Item 10
Chunk 235
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and until their respective successors are duly elected: Mr. Amir Elstein - approximately 96%; Mr. Russell Ellwanger - approximately
87%; Mr. Kalman Kaufman - approximately 95%; Ms. Dana Gross - approximately 96%; Mr. Ilan Flato - approximately
95%; Mr. Yoav Chelouche - approximately 95%; Ms. Iris Avner - approximately 98%; Ms. Michal Vakrat - approximately 98%; Mr. Avi
Hasson - approximately 98%; Sagi Ben Moshe - approximately 89%. Proposal 2, to appoint Mr. Amir Elstein as the Chairman of
the Company’s Board of Directors and approve the terms of his compensation in such capacity: approximately 80%. Proposal 3, to approve
amendments to the Company’s compensation policy for directors and executive officers: approximately 73%. Proposal 4, to approve
an increase in the annual base salary of the Company’s chief executive officer: approximately 86%. Proposal 5, to approve
the grant of an annual equity-based award to the Company’s Chief Executive Officer: approximately 68%. Proposal 6, to approve
the grant of a long-term incentive equity award to the Company’s Chief Executive Officer: approximately 81%. Proposal 7, to approve
the grant of an annual equity-based award to each member of the Board of Directors (other than Mr. Amir Elstein and Mr. Russell Ellwanger),
approximately 73%. Proposal 8, to approve the re-appointment of Brightman Almagor Zohar & Co., Certified Public Accountants,
a firm in The Deloitte Global Network, as the independent registered public accountants of the Company for the year ending December 31,
2024, and for the period commencing January 1, 2025 and until the next annual shareholders’ meeting, and to further authorize the
Audit Committee of the Board of Directors to determine the remuneration of such firm in accordance with the volume and nature of its services:
approximately 97%.

67

Borrowing Powers

Our Board of Directors may, from time to time, at its discretion,
approve the receipt of credit by the Company in any amount and the discharge thereof, in such manner as it deems fit, as well as the award
of collateral to secure any such credit, of whatsoever type. The Board of Directors may, from time to time, at its discretion, approve
the issue of a series of