Company: TSEM
Filing Date: 2025-04-30
Form Type: 20-F
Source: 0001178913-25-001537
Chunk: 79

Company: TOWER SEMICONDUCTOR LTD
Filing Date: 2025-04-30
Form: 20-F
Item: Item 3
Chunk 79
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the bank. From 1992 until 1996, Mr. Flato served as the Economic Advisor to the Prime Minister of Israel. Prior to that position, Mr.
Flato served in the Treasury Office as the deputy director of the budget department. In addition, Mr. Flato served as a member of the
board of directors of many government-owned companies. Mr. Flato holds a B. A. degree in economics from Tel-Aviv University, an LL. B. degree
from Netanya College, an M. A. degree in law from Bar-Ilan University and an MSIT from Clark University.

Yoav Z. Chelouche has served as a director since April 2016, as
a member of the Corporate Governance and Nominating Committee since January 2018, and as the Chair and member of our Audit Committee since
May 2017. Mr. Chelouche is classified by the Board of Directors as an audit committee financial expert under applicable SEC rules.
Mr. Chelouche has served as Managing Partner of Aviv Ventures since its inception in 2001. Between 1995 and 2001, Mr. Chelouche
served as President & Chief Executive Officer of Scitex Corp. Until 2015, Mr. Chelouche was co-chairman of Israel Advanced Technology
Industries. Mr. Chelouche currently serves on the Board of Directors of the following publicly listed companies: Check Point Software
Technologies, Ltd. (NASDAQ) and Malam-Team Ltd. (TASE). Mr. Chelouche also previously served as Chairman and/or director of several
public companies, including the Tel-Aviv Stock Exchange, Ltd. (TASE) and Shufersal Ltd. (TASE). Mr. Chelouche holds a B. A. degree
in economics and statistics from Tel Aviv University and an MBA degree from INSEAD, Fontainebleau, France.

50

Iris Avner has served as a director since June 2016 (until November
2016 as an external director, within the meaning of the Companies Law), and has served as a member of the Audit Committee since June 2016.
Ms. Avner served as a member of the Compensation Committee from June 2016 until October 2019. Ms. Avner is classified by the Board
of Directors as an audit committee financial expert under applicable SEC rules. Ms. Avner