Company: TSEM
Filing Date: 2025-04-30
Form Type: 20-F
Source: 0001178913-25-001537
Chunk: 234

Company: TOWER SEMICONDUCTOR LTD
Filing Date: 2025-04-30
Form: 20-F
Item: Item 10
Chunk 234
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  appointment and dismissal of external directors (if applicable);  

  approval of certain related party transactions and certain officer and director compensation;  

  increase or reduction of authorized share capital in accordance with the provisions of the Companies Law;  
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  a merger; and  

  the exercise of the Board of Directors’ powers by the general meeting, if the Board of Directors is unable to exercise its  

Subject to the provisions of the Companies Law and regulations
promulgated thereunder, shareholders entitled to participate and vote at general meetings are the shareholders of record on a date to
be decided by the board of directors, which, as a company listed on an exchange outside Israel, may be between four and 60 days prior
to the date of the meeting.

The Companies Law requires that a notice of any annual general
meeting or special general meeting be provided to shareholders at least 21 days prior to the meeting and if the agenda of the meeting
includes, among other things, the appointment or removal of directors, the approval of transactions with office holders or interested
or related parties, an approval of a merger or the approval of the compensation policy, notice must be provided at least 35 days prior
to the meeting.

2024 Annual General Meeting of Shareholders

Each of the proposals presented for approval at the 2024 Annual
General Meeting of Shareholders of the Company held on July 31, 2024 (the “ Meeting”) were approved by the requisite vote of
the Company’s shareholders in accordance with the Companies Law and the Company’s articles of association, as described in
the Notice and Proxy Statement for the Meeting that was attached as Exhibit 99.1 to a Report of Foreign Private Issuer on Form 6-K furnished
by the Company to the SEC on June 20, 2024. The percentage of shares represented at the Meeting that voted in favor of each proposal
(excluding abstentions) is as follows (and with respect to Proposals 3, 4, 5, 6 and 7, the percentage is of the shares represented
at the Meeting that voted in favor of the proposal by shareholders who are not controlling shareholders and shareholders who do not have
a personal interest (within the meaning of the Companies Law) in the applicable proposal (excluding abstentions). Proposal 1, to
elect ten members to the Board of Directors of the Company to serve until the Company’s next annual general meeting of shareholders