Document:

SUMMARY OF PERPETUAL DEPOSIT AGREEMENT                              EXHIBIT 4.4

     Pursuant to agreements (by way of exchange of letters) that were entered
into at various times between us and the Israeli Treasury, we deposited with the
Israeli Treasury the capital from the offerings of our preferred shares (C, CC,
CC1, D and DD). The total principal amount of perpetual deposits with the
Treasury was NIS 806.5 million, as of December 31, 2004, as compared with NIS
799.3 million, as of December 31, 2003. Pursuant to these agreements, we are
entitled, regarding the amounts so deposited, to receive dollar-interest at the
annual rate of 7.5% of the dollar value of the deposits (as of the date of their
deposit), which will be paid net to us by the Treasury, on the dates that we
will declare the payment of a dividend for the above preferred shares, in such
manner that after the payment of taxes and other charges, the net amount of
interest that we receive from the Treasury will be at the above rate of 7.5%.

     The deposit agreements do not expressly stipulate how the interest on the
perpetual deposits should be handled during periods in which the Bank is
prevented from distributing dividends on these preferred shares, and whether the
interest will accrue and be paid when the Bank pays the accrued preferred
dividends in arrears or upon liquidation. See Note 15 to our financial
statements in Item 17 of this annual report for details on the cessation of
dividend distribution and the matter of the accrued interest on the perpetual
deposits with the Israeli Treasury.

     The principal amounts that we so deposited will be returned to us by the
Israeli Treasury only upon our liquidation or for the purpose of redemption of
preferred D and DD shares (which were offered as redeemable shares), with the
principal amounts being linked to the dollar from the date of their deposit with
the Treasury and until October 1987, and from October 1, 1987 until the date of
their repayment to us, linked to the Consumer Price Index or the dollar,
whichever is higher. The deposit agreements establish that the Treasury shall
not have a right of set-off as to amounts that we will receive regarding the
deposits thereby deposited.SUMMARY OF COMPUTER SERVICES OUTSOURCING AGREEMENT                   EXHIBIT 4.5

     Pursuant to an agreement dated December 23, 2003 between us and NESS A.T.
Ltd. ("NESS"), NESS has undertaken to provide us with IT Outsourcing services,
including ongoing management and operation of our Information Systems,
maintenance and operation of hardware, computers, peripheral equipment,
communications and software infrastructure (i.e. Databases, Operations Systems,
etc.), application operation and maintenance, modification and adaptation of our
applications, information security services etc.

     The agreement is for an initial period of three years beginning from
January 1, 2004. We are entitled to terminate the agreement by a prior notice of
a few months or extend it for one or two more years. In 2004, the cost of the
service was NIS 4.3 million. In 2005, the cost of the service will amount to NIS
3.3 million and in 2006 to NIS 2.4 million. In the event that we decide to
extend the agreement by an additional two years, as above-mentioned, the cost of
the service for each additional year will amount to NIS 2.3 million.

     During the term of the agreement, we are entitled to order from NESS
modifications to our information systems and/or development of new applications
and for such purpose, we have available to us a "bank of hours".SUMMARY OF SPECIAL COLLECTIVE AGREEMENT WITH EMPLOYEES               EXHIBIT 4.6

     On December 26, 2002, a collective agreement was signed between us, the
General Federation of Labor and our employee committee, which applies to those
of our workers to which collective agreements apply (and not to those who are
employed on personal employment contracts). The contract was for a three year
period, and can be extended for an additional year. The contract established,
among other things: 1) the right of management to terminate the employment of
employees within the framework of the reduction of our banking services, and the
termination procedure; 2) the special benefits and payments to which an employee
is entitled if terminated, including additional severance payments beyond those
set by law and the conversion of the right to additional severance (for
employees with particular seniority and with a particular number of years until
their reaching retirement age); and 3) certain reductions to be made in the
salaries of the employees and the related benefits to which they are entitled.

     On March 14, 2005, the above parties signed a new collective agreement
which extended the term of the above agreement (dated December 26, 2002) until
the termination date of our run-off plan (including any modification or
extension to the plan, approved by the government) or until December 31, 2007,
whichever is first. This new agreement also established and clarified that
employees who under the original agreement are entitled to an early old-age
pension due to the termination of their employment, will be entitled to the
pension until they reach the age from which they will be entitled -in light of
the reform which took place in the pension field after the signing of the
original agreement- to receive a regular old-age pension from the pension fund
in which they are members, and it also established that some of the concessions
to which the employees agreed in the original agreement and which had a time
limit, will continue to apply also during the period of the new agreement.SUMMARY OF INDEMNIFICATION AGREEMENT                                 EXHIBIT 4.7
FOR DIRECTORS AND SENIOR OFFICERS

     We granted an indemnification agreement to our directors and senior
officers, which was approved by our General Meeting on August 8, 2002. Pursuant
to the agreement, we undertook to indemnify our directors and senior officers
for a monetary obligation imposed on them in favor of a third party pursuant to
a judgment (including a judgment by way of settlement or by an arbitrator's
decision which was approved by a court) and for reasonable litigation expenses
(including lawyers' fees), imposed upon them in consequence of an act (defined
as including omissions and decisions) performed or to be performed by virtue of
their being directors or senior officers in the Bank or by virtue of any office
or function they fulfilled and/or will fulfill according to our request or in
our name within any company in which we hold and/or will hold shares and any
other entity and any business venture in which we invested and/or will invest,
on condition however that such activities are related to at least one of the
types of events detailed in the indemnity agreement, which include, among
others, the following events: offering of securities, implementing voting rights
and rights to appoint directors in a company in which we hold and/or will hold
shares and/or in another entity and/or in a business venture in which we
invested and/or will invest, realization of collateral granted to us, approval
of credit and other acts within the framework of permitted activities for banks
pursuant to the Banking Law (Licensing) 1981-5741, holding of assets in trust,
granting of underwriter's undertaking, a transaction of our concerning any
assets for our account, giving any report or notice pursuant to the law, receipt
of licenses and permits, events related to employer-employee relations and the
failure to perform one or more of the above matters.

     The general and cumulative amount of indemnification that could be paid
pursuant to the above agreement shall not exceed 25% of our equity according to
our financial statements as of March 31, 2002, which stood at NIS 640,300,000,
meaning shall not exceed NIS 160,075,000, this amount being linked to the
Consumer Price Index published for the month of March 2002. The indemnification
pursuant to the indemnification agreement is subject to the provisions of the
Companies Law and to the various conditions detailed in the indemnification
agreement.SUMMARY OF KIBBUTZ DEBT AGREEMENT                                    EXHIBIT 4.8

Following the difficulties experienced by the kibbutzim in Israel and the
organizations affiliated with them during the 1980's, several agreements were
entered into between the years 1989-1999 in which the parties were the kibbutz
movements, the creditor-banks and the State of Israel.

The purpose of these agreements was to reorganize the debt of the kibbutzim and
the organizations affiliated with them and to conform it to their actual
repayment ability. The agreements include a detailed and complex apparatus to
handle these debts. Within this framework, it was established that the kibbutzim
which were defined as assisted kibbutzim (those requiring assistance) shall be
entitled to refunds of certain interest differentials for unpaid credit which
they were granted by the banks who were parties to the agreement, to a waiver of
part of these credits and to long-term rescheduling of the remainder.

The government financed 35% of the waivers and deposited funds with the banks to
serve as a source for the rescheduling. Kibbutzim that were defined as owners of
real estate having the potential for development, were required pursuant to
these agreements to assign their rights in the land in consideration for a
portion of the waivers that they were approved for them.

See Note 4 to our financial statements in Item 17 of this annual report for
further details of the Kibbutz debt agreement.SUMMARY OF CREDIT TO A CERTAIN GOVERNMENTAL ENTITY                   EXHIBIT 4.9

     Pursuant to a series of agreements entered into at various times during the
1990's, we granted long-term credits to a certain governmental entity in a total
amount of approximately 1.5 billion U.S. dollars. These credits were granted
from deposits which were deposited with us by the State of Israel, in identical
amounts and having identical maturity dates as the credits. These credits are
fully guaranteed (principal and interest) by the State of Israel. The
outstanding balance of these credits as of December 31, 2004 was approximately
1.43 billion U.S. dollars, comprising approximately 77% of the total credit to
the public at that date.

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00087-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00087-of-00352.parquet"}], [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00087-of-00352.parquet"}], [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00087-of-00352.parquet"}], [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00087-of-00352.parquet"}], [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00087-of-00352.parquet"}]]