Company: TSEM
Filing Date: 2025-04-30
Form Type: 20-F
Source: 0001178913-25-001537
Chunk: 224

Company: TOWER SEMICONDUCTOR LTD
Filing Date: 2025-04-30
Form: 20-F
Item: Item 6
Chunk 224
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 Officer and a director, as detailed in “Item 6. Directors, Senior Management and Employees—B. Compensation,” we do not have written agreements with any director providing for benefits upon the termination of his or her services with our Company. Under the term of our directors’ equity awards, as approved by the shareholders, in the event a director’s service is terminated for any reason, including by way of resignation, prior to the second anniversary from the date of the equity grant, (i) if the director has served on our board of directors for five years or more, all unvested equity shall be accelerated; and (ii) if the director has served on our board of directors for less than five years, 50% of all unvested equity shall be accelerated.
D. EMPLOYEES
 
The following table sets forth for the last three fiscal years, the number of our employees engaged in the specified activities.
 

                                                                          As of December 31,               
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                                                      2024                2023                2022         
Process and product engineering, R&amp;D and design             882                 887               1,067
Operations                                                    3,638               3,491               3,858
Operations support                                              625                 544                 410
Sales and marketing, finance &amp; administration               214                 293                 278
Total                                                         5,359               5,215               5,613
 
As of December 31, 2024, we had 1,480 employees located in Israel, 1,492 employees located in the United States, 2,352 employees located in Japan and 35 employees located in other countries in the Asia Pacific region and across Europe.
 
Other than a special collective agreement relating to our Israeli employees regarding employer payments to pension funds of such employees, as described below, our employees in Israel are not covered under a collective bargaining agreement. However, in Israel we are subject to certain labor statutes and national labor court precedent rulings, as well as to certain provisions of the collective bargaining agreements between the Histadrut and the Coordination Bureau of Economic Organizations, by virtue of expansion orders issued in accordance with relevant labor laws by the Israeli Ministry of Labor and Welfare, and which apply such agreement provisions to our employees even though they are not directly part of a union that has signed a collective bargaining agreement. The labor laws and court rulings that apply to our employees principally concern the minimum wage laws, procedures for dismissing employees, determination of sever