Aberdeen Israel Fund NPX Annual report of proxy voting record

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM N-PX

ANNUAL REPORT OF PROXY VOTING RECORD OF REGISTERED MANAGEMENT INVESTMENT COMPANIES

Investment Company Act file number: 811-06120

Aberdeen Israel Fund, Inc.

(Exact name of registrant as specified in charter)

1735 Market Street, 32nd Floor

Philadelphia, PA 19103

(Address of principal executive offices) (Zip code)

Lucia Sitar, Esq.

c/o Aberdeen Asset Management Inc

1735 Market Street, 32nd Floor

Philadelphia, PA 19103

(Name and address of agent for service)

Registrant’s telephone number, including area code: (866) 839-5205

Date of fiscal year end: December 31st

Date of reporting period: July 1, 2013 – June 30, 2014

Item 1. Proxy Voting Record

PROXY VOTING RECORD

FOR PERIOD JULY 1, 2013 TO JUNE 30, 2014

Shares
Voted

Company Name

Ticker

Primary
CUSIP

Meeting
Date

Meeting
Type

Ballot
Status

Votable
Shares

Proposal
Number

Proposal Text

Proponent

Management
Recommendation

Vote
Instruction

Voter Rationale

211,220

Osem Investment Ltd.

OSEM

M7575A103

9-Jul-13

Annual/Special

Confirmed

211,220

Discuss Financial Statements and the Report of the Board for 2012

Management

211,220

Osem Investment Ltd.

OSEM

M7575A103

9-Jul-13

Annual/Special

Confirmed

211,220

Reelect Directors

Management

For

Against

Not only is the 12 Board member election bundled, but at 19 percent the company is falling well short of the minimum levels of independence stipulated by the Israeli companies law (33 percent). We should be taking this opportunity to place more pressure on the company to adhere. We will contact the company to discuss.

211,220

Osem Investment Ltd.

OSEM

M7575A103

9-Jul-13

Annual/Special

Confirmed

211,220

Reappoint Somech Chaikin as Auditors and Authorize Board to Fix Their Remuneration

Management

For

Against

We have engaged regularly in prior years with the company regarding the division of fees into audit and non-audit, and they are aware we will continue to vote against until this matter is addressed.

211,220

Osem Investment Ltd.

OSEM

M7575A103

9-Jul-13

Annual/Special

Confirmed

211,220

Grant Options to CEO

Management

For

211,220

Osem Investment Ltd.

OSEM

M7575A103

9-Jul-13

Annual/Special

Confirmed

211,220

Approve CEO Compensation

Management

For

211,220

Osem Investment Ltd.

OSEM

M7575A103

9-Jul-13

Annual/Special

Confirmed

211,220

Vote FOR if you are a controlling shareholder or have a personal interest in item; otherwise, vote AGAINST. You may not abstain. If you vote FOR, please provide an explanation to your account manager.

Management

None

Against

No controlling interest.

1,955

Israel Corporation (The)

ILCO

M8785N109

11-Jul-13

Special

Confirmed

1,955

Reelect Gideon Lengholtz as External Director

Management

For

1,955

Israel Corporation (The)

ILCO

M8785N109

11-Jul-13

Special

Confirmed

1,955

Reelect Ofer Termechi as External Director

Management

For

1,955

Israel Corporation (The)

ILCO

M8785N109

11-Jul-13

Special

Confirmed

1,955

Management

None

Against

Procedural

15,637

Hadera Paper Ltd.

HAP

M52514102

17-Jul-13

Annual/Special

Confirmed

15,637

Discuss Financial Statements and the Report of the Board for 2012

Management

15,637

Hadera Paper Ltd.

HAP

M52514102

17-Jul-13

Annual/Special

Confirmed

15,637

2.1

Reelect Arie Gottlieb as Director

Management

For

15,637

Hadera Paper Ltd.

HAP

M52514102

17-Jul-13

Annual/Special

Confirmed

15,637

2.2

Reelect Dan Vardi as Director

Management

For

15,637

Hadera Paper Ltd.

HAP

M52514102

17-Jul-13

Annual/Special

Confirmed

15,637

2.3

Reelect Zvi Heifetz as Director

Management

For

15,637

Hadera Paper Ltd.

HAP

M52514102

17-Jul-13

Annual/Special

Confirmed

15,637

2.4

Reelect Amos Mar-Haim as Director

Management

For

Against

Mar-Haim, in addition to being on the Board for 29 years, is a non-independent that is present on the Audit Committee, and for this latter reason, merits a vote AGAINST.

15,637

Hadera Paper Ltd.

HAP

M52514102

17-Jul-13

Annual/Special

Confirmed

15,637

2.5

Reelect Yohanan Locker as Director

Management

For

15,637

Hadera Paper Ltd.

HAP

M52514102

17-Jul-13

Annual/Special

Confirmed

15,637

2.6

Reelect Dan Kleinberger as Director

Management

For

15,637

Hadera Paper Ltd.

HAP

M52514102

17-Jul-13

Annual/Special

Confirmed

15,637

Reappoint Brightman Almagor Zohar and Shoti as Auditors and Authorize Board to Fix Their Remuneration

Management

For

15,637

Hadera Paper Ltd.

HAP

M52514102

17-Jul-13

Annual/Special

Confirmed

15,637

Amend Articles

Management

For

15,637

Hadera Paper Ltd.

HAP

M52514102

17-Jul-13

Annual/Special

Confirmed

15,637

Approve Related Party Transaction

Management

For

15,637

Hadera Paper Ltd.

HAP

M52514102

17-Jul-13

Annual/Special

Confirmed

15,637

Issue Updated Indemnification Agreements to Directors/Officers

Management

For

15,637

Hadera Paper Ltd.

HAP

M52514102

17-Jul-13

Annual/Special

Confirmed

15,637

Management

None

Against

703,143

Shufersal Ltd.

SAE

M8411W101

28-Jul-13

Annual/Special

Confirmed

703,143

Discuss Financial Statements and the Report of the Board for 2012

Management

703,143

Shufersal Ltd.

SAE

M8411W101

28-Jul-13

Annual/Special

Confirmed

703,143

Reappoint Somech Chaikin (KPMG) as Auditors and Authorize Board to Fix Their Remuneration

Management

For

703,143

Shufersal Ltd.

SAE

M8411W101

28-Jul-13

Annual/Special

Confirmed

703,143

3.1

Reelect Refael Bisker as Director

Management

For

703,143

Shufersal Ltd.

SAE

M8411W101

28-Jul-13

Annual/Special

Confirmed

703,143

3.2

Reelect Yaacov Fisher as Director

Management

For

703,143

Shufersal Ltd.

SAE

M8411W101

28-Jul-13

Annual/Special

Confirmed

703,143

3.3

Reelect Nochi Dankner as Director

Management

For

703,143

Shufersal Ltd.

SAE

M8411W101

28-Jul-13

Annual/Special

Confirmed

703,143

3.4

Reelect Haim Gavrieli as Director

Management

For

703,143

Shufersal Ltd.

SAE

M8411W101

28-Jul-13

Annual/Special

Confirmed

703,143

3.5

Reelect Ron Hadassi as Director

Management

For

703,143

Shufersal Ltd.

SAE

M8411W101

28-Jul-13

Annual/Special

Confirmed

703,143

3.6

Reelect Eliyahu Cohen as Director

Management

For

Against

Last year we raised the point highlighted by ISS that Cohen serves as a non-independent on the audit committee and as a consequence abstained. However, we indicated we would vote against in future, hence the decision.

703,143

Shufersal Ltd.

SAE

M8411W101

28-Jul-13

Annual/Special

Confirmed

703,143

3.7

Reelect Yitzchak Manor as Director

Management

For

703,143

Shufersal Ltd.

SAE

M8411W101

28-Jul-13

Annual/Special

Confirmed

703,143

3.8

Reelect Amiram Erel as Director

Management

For

703,143

Shufersal Ltd.

SAE

M8411W101

28-Jul-13

Annual/Special

Confirmed

703,143

3.9

Reelect Ido Bergman as Director

Management

For

703,143

Shufersal Ltd.

SAE

M8411W101

28-Jul-13

Annual/Special

Confirmed

703,143

3.1

Reelect Sabina Biran as Director

Management

For

703,143

Shufersal Ltd.

SAE

M8411W101

28-Jul-13

Annual/Special

Confirmed

703,143

3.11

Reelect Alon Bachar as Director

Management

For

703,143

Shufersal Ltd.

SAE

M8411W101

28-Jul-13

Annual/Special

Confirmed

703,143

3.12

Reelect Yehoshua Koblenz as Director

Management

For

703,143

Shufersal Ltd.

SAE

M8411W101

28-Jul-13

Annual/Special

Confirmed

703,143

Approve D&O Insurance to Officers

Management

For

703,143

Shufersal Ltd.

SAE

M8411W101

28-Jul-13

Annual/Special

Confirmed

703,143

Management

None

Against

No personal interest.

519,253

Golf & Co Group Ltd.

GOLF

M5215V107

31-Jul-13

Special

Confirmed

519,253

Issue Updated Indemnification Agreements to Directors/Officers

Management

For

519,253

Golf & Co Group Ltd.

GOLF

M5215V107

31-Jul-13

Special

Confirmed

519,253

Management

None

Against

No personal interest.

66,000

Rami Levi Chain Stores Hashikma Marketing 2006 Ltd.

RMLI

M8194J103

7-Aug-13

Annual/Special

Confirmed

66,000

Approve Employment Terms of Adina Lev, Deputy CEO and Treasurer

Management

For

66,000

Rami Levi Chain Stores Hashikma Marketing 2006 Ltd.

RMLI

M8194J103

7-Aug-13

Annual/Special

Confirmed

66,000

Approve Employment Terms of Ofir Atias

Management

For

66,000

Rami Levi Chain Stores Hashikma Marketing 2006 Ltd.

RMLI

M8194J103

7-Aug-13

Annual/Special

Confirmed

66,000

Discuss Financial Statements and the Report of the Board for 2012

Management

66,000

Rami Levi Chain Stores Hashikma Marketing 2006 Ltd.

RMLI

M8194J103

7-Aug-13

Annual/Special

Confirmed

66,000

4.1

Reelect Rami Levi as Director Until the End of the Next Annual General Meeting

Management

For

66,000

Rami Levi Chain Stores Hashikma Marketing 2006 Ltd.

RMLI

M8194J103

7-Aug-13

Annual/Special

Confirmed

66,000

4.2

Reelect Ofir Atias as Director Until the End of the Next Annual General Meeting

Management

For

66,000

Rami Levi Chain Stores Hashikma Marketing 2006 Ltd.

RMLI

M8194J103

7-Aug-13

Annual/Special

Confirmed

66,000

4.3

Reelect Yaacov Avisar as Director Until the End of the Next Annual General Meeting

Management

For

66,000

Rami Levi Chain Stores Hashikma Marketing 2006 Ltd.

RMLI

M8194J103

7-Aug-13

Annual/Special

Confirmed

66,000

4.4

Reelect Mordechai Berkovitch as Director Until the End of the Next Annual General Meeting

Management

For

66,000

Rami Levi Chain Stores Hashikma Marketing 2006 Ltd.

RMLI

M8194J103

7-Aug-13

Annual/Special

Confirmed

66,000

Elect Dalia Itzik as Director Until the End of the Next Annual General Meeting

Management

For

66,000

Rami Levi Chain Stores Hashikma Marketing 2006 Ltd.

RMLI

M8194J103

7-Aug-13

Annual/Special

Confirmed

66,000

Reappoint Auditors and Discuss Remuneration for 2012

Management

For

66,000

Rami Levi Chain Stores Hashikma Marketing 2006 Ltd.

RMLI

M8194J103

7-Aug-13

Annual/Special

Confirmed

66,000

Management

None

Against

Not a controlling shareholder.

526,500

Israel Chemicals Ltd.

ICL

M5920A109

26-Aug-13

Annual/Special

Confirmed

526,500

Approve Compensation Policy for the Directors and Officers of the Company

Management

For

526,500

Israel Chemicals Ltd.

ICL

M5920A109

26-Aug-13

Annual/Special

Confirmed

526,500

Update Bonus and Share-Based Payments Employment Agreement of Stefan Borgas, CEO

Management

For

526,500

Israel Chemicals Ltd.

ICL

M5920A109

26-Aug-13

Annual/Special

Confirmed

526,500

Approve Bonus to Stefan Borgas, CEO

Management

For

526,500

Israel Chemicals Ltd.

ICL

M5920A109

26-Aug-13

Annual/Special

Confirmed

526,500

Discuss Financial Statements and the Report of the Board for 2012

Management

526,500

Israel Chemicals Ltd.

ICL

M5920A109

26-Aug-13

Annual/Special

Confirmed

526,500

Reappoint Somekh Chaikin as Auditors and Discuss Compensation of 2012

Management

For

526,500

Israel Chemicals Ltd.

ICL

M5920A109

26-Aug-13

Annual/Special

Confirmed

526,500

6.1

Reelect Nir Gilad as Director Until the End of the Next Annual General Meeting

Management

For

526,500

Israel Chemicals Ltd.

ICL

M5920A109

26-Aug-13

Annual/Special

Confirmed

526,500

6.2

Reelect Avisar Paz as Director Until the End of the Next Annual General Meeting

Management

For

526,500

Israel Chemicals Ltd.

ICL

M5920A109

26-Aug-13

Annual/Special

Confirmed

526,500

6.3

Reelect Eran Sarig as Director Until the End of the Next Annual General Meeting

Management

For

526,500

Israel Chemicals Ltd.

ICL

M5920A109

26-Aug-13

Annual/Special

Confirmed

526,500

6.4

Reelect Avraham (Baiga) Shochat as Director Until the End of the Next Annual General Meeting

Management

For

526,500

Israel Chemicals Ltd.

ICL

M5920A109

26-Aug-13

Annual/Special

Confirmed

526,500

6.5

Reelect Victor Medina as Director Until the End of the Next Annual General Meeting

Management

For

526,500

Israel Chemicals Ltd.

ICL

M5920A109

26-Aug-13

Annual/Special

Confirmed

526,500

6.6

Reelect Chaim Erez as Director Until the End of the Next Annual General Meeting

Management

For

Against

Chaim Erez is a former CEO and therefore an inappropriate member of the audit committee.

526,500

Israel Chemicals Ltd.

ICL

M5920A109

26-Aug-13

Annual/Special

Confirmed

526,500

6.7

Reelect Ovadia Eli as Director Until the End of the Next Annual General Meeting

Management

For

526,500

Israel Chemicals Ltd.

ICL

M5920A109

26-Aug-13

Annual/Special

Confirmed

526,500

Management

None

Against

No personal interest.

2,101,000

Bezeq The Israeli Telecommunication Corp. Ltd.

BEZQ

M2012Q100

27-Aug-13

Special

Confirmed

2,101,000

Approve Final Dividend of NIS 0.3555092 Per Share

Management

For

338,900

Mizrahi Tefahot Bank Ltd.

MZTF

M9540S110

27-Aug-13

Special

Confirmed

338,900

Reelect Avi Zigelman as External Director for an Additional Three Year Term

Management

For

338,900

Mizrahi Tefahot Bank Ltd.

MZTF

M9540S110

27-Aug-13

Special

Confirmed

338,900

Approve Compensation Policy for the Directors and Officers of the Company

Management

For

338,900

Mizrahi Tefahot Bank Ltd.

MZTF

M9540S110

27-Aug-13

Special

Confirmed

338,900

Management

None

Against

No personal interest.

67,000

Nice Systems Ltd.

NICE

M7494X101

27-Aug-13

Annual/Special

Confirmed

67,000

1.1

Reelect David Kostman as Director Until the End of the Next Annual General Meeting

Management

For

67,000

Nice Systems Ltd.

NICE

M7494X101

27-Aug-13

Annual/Special

Confirmed

67,000

1.2

Reelect Joseph Atsmon as Director Until the End of the Next Annual General Meeting

Management

For

67,000

Nice Systems Ltd.

NICE

M7494X101

27-Aug-13

Annual/Special

Confirmed

67,000

1.3

Reelect Rimon Ben-Shaoul as Director Until the End of the Next Annual General Meeting

Management

For

67,000

Nice Systems Ltd.

NICE

M7494X101

27-Aug-13

Annual/Special

Confirmed

67,000

1.4

Reelect Yehoshua (Shuki) Ehrlich as Director Until the End of the Next Annual General Meeting

Management

For

67,000

Nice Systems Ltd.

NICE

M7494X101

27-Aug-13

Annual/Special

Confirmed

67,000

1.5

Reelect Zeev Bregman as Director Until the End of the Next Annual General Meeting

Management

For

67,000

Nice Systems Ltd.

NICE

M7494X101

27-Aug-13

Annual/Special

Confirmed

67,000

1.6

Reelect Leo Apotheker as Director Until the End of the Next Annual General Meeting

Management

For

67,000

Nice Systems Ltd.

NICE

M7494X101

27-Aug-13

Annual/Special

Confirmed

67,000

1.7

Reelect Joseph Cowan as Director Until the End of the Next Annual General Meeting

Management

For

67,000

Nice Systems Ltd.

NICE

M7494X101

27-Aug-13

Annual/Special

Confirmed

67,000

2.1

Reelect Dan Falk as External Director for an Additional Three Year Term

Management

For

67,000

Nice Systems Ltd.

NICE

M7494X101

27-Aug-13

Annual/Special

Confirmed

67,000

2.2

Reelect Yocheved Dvir as External Director for an Additional Three Year Term

Management

For

67,000

Nice Systems Ltd.

NICE

M7494X101

27-Aug-13

Annual/Special

Confirmed

67,000

Approve Supplemental Annual Cash Fee to David Kostman, Chairman

Management

For

Abstain

Retroactive grant of USD 125k for Kostman upgrade to Chairman on Feb 13th, 2013.

67,000

Nice Systems Ltd.

NICE

M7494X101

27-Aug-13

Annual/Special

Confirmed

67,000

Approve Stock Option Grant to Non-Executive Directors

Management

For

67,000

Nice Systems Ltd.

NICE

M7494X101

27-Aug-13

Annual/Special

Confirmed

67,000

Approve Compensation of Zeev Bregman, CEO

Management

For

67,000

Nice Systems Ltd.

NICE

M7494X101

27-Aug-13

Annual/Special

Confirmed

67,000

Approval of Separation Bonus to Ron Gutler, former Chairman

Management

For

67,000

Nice Systems Ltd.

NICE

M7494X101

27-Aug-13

Annual/Special

Confirmed

67,000

Approve Compensation Policy for the Directors and Officers of the Company

Management

For

67,000

Nice Systems Ltd.

NICE

M7494X101

27-Aug-13

Annual/Special

Confirmed

67,000

Reappoint Kost Forer Gabbay & Kasierer as Auditors and Authorize Board to Fix Their Remuneration

Management

For

67,000

Nice Systems Ltd.

NICE

M7494X101

27-Aug-13

Annual/Special

Confirmed

67,000

Discuss Financial Statements for 2012

Management

67,000

Nice Systems Ltd.

NICE

M7494X101

27-Aug-13

Annual/Special

Confirmed

67,000

Management

None

Against

No personal interest.

160,820

Teva Pharmaceutical Industries Ltd.

TEVA

M8769Q102

27-Aug-13

Annual

Confirmed

160,820

Reelect Moshe Many as Director Until the End of the 2016 General Meeting

Management

For

Against

Lack of independence.

160,820

Teva Pharmaceutical Industries Ltd.

TEVA

M8769Q102

27-Aug-13

Annual

Confirmed

160,820

Reelect Arie Belldegrun as Director Until the End of the 2016 General Meeting

Management

For

160,820

Teva Pharmaceutical Industries Ltd.

TEVA

M8769Q102

27-Aug-13

Annual

Confirmed

160,820

Reelect Amir Elstein as Director Until the End of the 2016 General Meeting

Management

For

160,820

Teva Pharmaceutical Industries Ltd.

TEVA

M8769Q102

27-Aug-13

Annual

Confirmed

160,820

Reelect Yitzhak Peterburg as Director Until the End of the 2016 General Meeting

Management

For

160,820

Teva Pharmaceutical Industries Ltd.

TEVA

M8769Q102

27-Aug-13

Annual

Confirmed

160,820

Approve Cash Bonus of USD 1,203,125 to Jeremy Levin, President and CEO

Management

For

160,820

Teva Pharmaceutical Industries Ltd.

TEVA

M8769Q102

27-Aug-13

Annual

Confirmed

160,820

2a.1

Vote YES if you have a personal interest in item 2a; otherwise, vote NO. You may not abstain. If you vote YES, please provide an explanation to your account manager.

Management

None

Against

Procedural.

160,820

Teva Pharmaceutical Industries Ltd.

TEVA

M8769Q102

27-Aug-13

Annual

Confirmed

160,820

Approval of Bonus Objectives and Payout Terms for 2013 for Jeremy Levin, President and CEO

Management

For

160,820

Teva Pharmaceutical Industries Ltd.

TEVA

M8769Q102

27-Aug-13

Annual

Confirmed

160,820

2b.1

Vote YES if you have a personal interest in item 2b; otherwise, vote NO. You may not abstain. If you vote YES, please provide an explanation to your account manager.

Management

None

Against

Procedural.

160,820

Teva Pharmaceutical Industries Ltd.

TEVA

M8769Q102

27-Aug-13

Annual

Confirmed

160,820

Approve Compensation Policy for the Directors and Officers of the Company

Management

For

160,820

Teva Pharmaceutical Industries Ltd.

TEVA

M8769Q102

27-Aug-13

Annual

Confirmed

160,820

3.a

Vote YES if you have a personal interest in item 3; otherwise, vote NO. You may not abstain. If you vote YES, please provide an explanation to your account manager.

Management

None

Against

No personal interest.

160,820

Teva Pharmaceutical Industries Ltd.

TEVA

M8769Q102

27-Aug-13

Annual

Confirmed

160,820

Approve Dividend for First and Second Quarters of 2012, Paid in Two Installments in an Aggregate Amount of NIS 2.00 (USD 0.51) per Ordinary Share

Management

For

160,820

Teva Pharmaceutical Industries Ltd.

TEVA

M8769Q102

27-Aug-13

Annual

Confirmed

160,820

Appoint Kesselman and Kesselman (Member of PricewaterhouseCoopers International Ltd.) as External Auditors until the 2014 General Meeting

Management

For

160,820

Teva Pharmaceutical Industries Ltd.

TEVA

M8769Q102

27-Aug-13

Annual

Confirmed

160,820

Discuss Financial Statements for 2012

Management

2,101,000

Bezeq The Israeli Telecommunication Corp. Ltd.

BEZQ

M2012Q100

3-Sep-13

Special

Confirmed

2,101,000

Approve Compensation Policy for the Directors and Officers of the Company

Management

For

2,101,000

Bezeq The Israeli Telecommunication Corp. Ltd.

BEZQ

M2012Q100

3-Sep-13

Special

Confirmed

2,101,000

Management

None

Against

Not a controlling shareholder.

225,220

Osem Investment Ltd.

OSEM

M7575A103

3-Sep-13

Special

Confirmed

225,220

Approve Compensation Policy for the Directors and Officers of the Company

Management

For

225,220

Osem Investment Ltd.

OSEM

M7575A103

3-Sep-13

Special

Confirmed

225,220

Reelect Leora Meridor as External Director for an Additional Three Year Term

Management

For

225,220

Osem Investment Ltd.

OSEM

M7575A103

3-Sep-13

Special

Confirmed

225,220

Management

None

Against

Not a controlling shareholder.

703,143

Shufersal Ltd.

SAE

M8411W101

10-Sep-13

Special

Confirmed

703,143

Approve Compensation Policy for the Directors and Officers of the Company

Management

For

703,143

Shufersal Ltd.

SAE

M8411W101

10-Sep-13

Special

Confirmed

703,143

Approve Bonus Plan of Yitzchak (Itzik) Abercohen, CEO

Management

For

703,143

Shufersal Ltd.

SAE

M8411W101

10-Sep-13

Special

Confirmed

703,143

Approve Bonus to Yitzchak (Itzik) Abercohen, CEO

Management

For

703,143

Shufersal Ltd.

SAE

M8411W101

10-Sep-13

Special

Confirmed

703,143

Management

None

Against

No personal interest.

111,000

Azrieli Group Ltd.

AZRG

11-Sep-13

Annual/Special

Confirmed

111,000

Approve Compensation Policy for the Directors and Officers of the Company

Management

For

111,000

Azrieli Group Ltd.

AZRG

11-Sep-13

Annual/Special

Confirmed

111,000

Discuss Financial Statements and the Report of the Board for 2012

Management

111,000

Azrieli Group Ltd.

AZRG

11-Sep-13

Annual/Special

Confirmed

111,000

3.1

Reelect David Azrieli as Director Until the End of the Next Annual General Meeting

Management

For

111,000

Azrieli Group Ltd.

AZRG

11-Sep-13

Annual/Special

Confirmed

111,000

3.2

Reelect Danna Azrieli Hakim as Director Until the End of the Next Annual General Meeting

Management

For

111,000

Azrieli Group Ltd.

AZRG

11-Sep-13

Annual/Special

Confirmed

111,000

3.3

Reelect Menachem Einan as Director Until the End of the Next Annual General Meeting

Management

For

111,000

Azrieli Group Ltd.

AZRG

11-Sep-13

Annual/Special

Confirmed

111,000

3.4

Reelect Naomi Azrieli as Director Until the End of the Next Annual General Meeting

Management

For

111,000

Azrieli Group Ltd.

AZRG

11-Sep-13

Annual/Special

Confirmed

111,000

3.5

Reelect Sharon Rachelle Azrieli as Director Until the End of the Next Annual General Meeting

Management

For

111,000

Azrieli Group Ltd.

AZRG

11-Sep-13

Annual/Special

Confirmed

111,000

3.6

Reelect Tzipora Carmon as Director Until the End of the Next Annual General Meeting

Management

For

111,000

Azrieli Group Ltd.

AZRG

11-Sep-13

Annual/Special

Confirmed

111,000

3.7

Reelect Josef Chechanover as Director Until the End of the Next Annual General Meeting

Management

For

111,000

Azrieli Group Ltd.

AZRG

11-Sep-13

Annual/Special

Confirmed

111,000

Reappoint Brightman Almagor Zohar & Co. as Auditors

Management

For

111,000

Azrieli Group Ltd.

AZRG

11-Sep-13

Annual/Special

Confirmed

111,000

Management

None

Against

Not a controlling shareholder.

584,000

Bank Hapoalim Ltd.

POLI

M1586M115

12-Sep-13

Annual

Confirmed

584,000

Discuss Financial Statements for 2012

Management

584,000

Bank Hapoalim Ltd.

POLI

M1586M115

12-Sep-13

Annual

Confirmed

584,000

Reappoint Ziv Haft and Somekh Chaikin as Auditors and Discuss Their Fees for 2012

Management

For

584,000

Bank Hapoalim Ltd.

POLI

M1586M115

12-Sep-13

Annual

Confirmed

584,000

Reelect Mali Baron as External Director for an Additional Three Year Term

Management

For

584,000

Bank Hapoalim Ltd.

POLI

M1586M115

12-Sep-13

Annual

Confirmed

584,000

Reelect Yacov Peer as External Director for an Additional Three Year Term

Management

For

584,000

Bank Hapoalim Ltd.

POLI

M1586M115

12-Sep-13

Annual

Confirmed

584,000

Management

None

Against

Not a controlling shareholder.

15,637

Hadera Paper Ltd.

HAP

M52514102

6-Oct-13

Special

Confirmed

15,637

Approve Compensation Policy for the Directors and Officers of the Company

Management

For

15,637

Hadera Paper Ltd.

HAP

M52514102

6-Oct-13

Special

Confirmed

15,637

Management

None

Against

No personal interest.

66,000

Rami Levi Chain Stores Hashikma Marketing 2006 Ltd.

RMLI

M8194J103

22-Oct-13

Special

Confirmed

66,000

Approve Compensation Policy for the Directors and Officers of the Company

Management

For

66,000

Rami Levi Chain Stores Hashikma Marketing 2006 Ltd.

RMLI

M8194J103

22-Oct-13

Special

Confirmed

66,000

Management

None

Against

Not a controlling shareholder.

796,000

Bank Leumi le-Israel B.M.

LUMI

M16043107

23-Oct-13

Annual

Confirmed

796,000

Discuss Financial Statements and the Report of the Board for 2012

Management

796,000

Bank Leumi le-Israel B.M.

LUMI

M16043107

23-Oct-13

Annual

Confirmed

796,000

Reappoint Somekh Chaikin and Kost Forer Gabbay as Joint Auditors and Authorize Board to Fix Their Remuneration

Management

For

796,000

Bank Leumi le-Israel B.M.

LUMI

M16043107

23-Oct-13

Annual

Confirmed

796,000

3.1

Elect David Brodet as Director Until the End of the Next Annual General Meeting

Management

For

Against

We have opted to support independents with the shortest tenure on the basis that the bank’s supervisory board would benefit from some refreshment. As this does not apply to the candidate in question, we have opted to vote against.

796,000

Bank Leumi le-Israel B.M.

LUMI

M16043107

23-Oct-13

Annual

Confirmed

796,000

3.2

Elect Moshe Dovrat as Director Until the End of the Next Annual General Meeting

Management

For

Against

796,000

Bank Leumi le-Israel B.M.

LUMI

M16043107

23-Oct-13

Annual

Confirmed

796,000

3.3

Elect Yoav Nardi as Director Until the End of the Next Annual General Meeting

Management

For

Against

796,000

Bank Leumi le-Israel B.M.

LUMI

M16043107

23-Oct-13

Annual

Confirmed

796,000

3.4

Elect Avia Alef as Director Until the End of the Next Annual General Meeting

Management

For

796,000

Bank Leumi le-Israel B.M.

LUMI

M16043107

23-Oct-13

Annual

Confirmed

796,000

3.5

Elect Eti Langerman as Director Until the End of the Next Annual General Meeting

Management

For

Against

796,000

Bank Leumi le-Israel B.M.

LUMI

M16043107

23-Oct-13

Annual

Confirmed

796,000

3.6

Elect Nurit Segal as Director Until the End of the Next Annual General Meeting

Management

For

796,000

Bank Leumi le-Israel B.M.

LUMI

M16043107

23-Oct-13

Annual

Confirmed

796,000

3.7

Elect Mohammad Sayad Ahmed as Director Until the End of the Next Annual General Meeting

Management

For

796,000

Bank Leumi le-Israel B.M.

LUMI

M16043107

23-Oct-13

Annual

Confirmed

796,000

3.8

Elect Pinhas Barel Buchris as Director Until the End of the Next Annual General Meeting

Management

For

796,000

Bank Leumi le-Israel B.M.

LUMI

M16043107

23-Oct-13

Annual

Confirmed

796,000

3.9

Elect Shai Hermesh as Director Until the End of the Next Annual General Meeting

Management

For

796,000

Bank Leumi le-Israel B.M.

LUMI

M16043107

23-Oct-13

Annual

Confirmed

796,000

4.1

Elect Gabriela Shalev as External Director for a Three Year Term

Management

For

Against

We have chosen to elect the newcomer Bzura as opposed to the incumbent Shalev as the board would benefit form some refreshment.

796,000

Bank Leumi le-Israel B.M.

LUMI

M16043107

23-Oct-13

Annual

Confirmed

796,000

4.2

Elect Avi Bzura as as External Director for a Three Year Term

Management

For

796,000

Bank Leumi le-Israel B.M.

LUMI

M16043107

23-Oct-13

Annual

Confirmed

796,000

Approve Decisions Regarding Candidates and Their Disclosure According to a Format Which Will Be Presented at the Meeting

Management

For

Abstain

We have no ability to vote given the item pertains to material to be revealed at the meeting. However, it is very likely neutral in terms of shareholder impact.

796,000

Bank Leumi le-Israel B.M.

LUMI

M16043107

23-Oct-13

Annual

Confirmed

796,000

Ratify Decision of Aug. 1, 2012, Regarding the Election of Haim Samet as External Director as Defined in Article 239 of the Companies Law 1999, Taking Into Account Additional Disclosed Information

Management

For

796,000

Bank Leumi le-Israel B.M.

LUMI

M16043107

23-Oct-13

Annual

Confirmed

796,000

A2a

If you are a Interest holder as defined in Article 1 of the 1968 Securities Law, vote FOR. Otherwise vote against.

Management

None

Against

No controlling interest.

796,000

Bank Leumi le-Israel B.M.

LUMI

M16043107

23-Oct-13

Annual

Confirmed

796,000

A2b

If you are a Senior Officer as defined in Article 37d of the 1968 Securities Law, vote FOR. Otherwise vote against.

Management

None

Against

Not a senior officer.

796,000

Bank Leumi le-Israel B.M.

LUMI

M16043107

23-Oct-13

Annual

Confirmed

796,000

A2c

If you are an Institutional investor as defined in Amendment 1 of Supervision of Financial Services Law (Provident Funds) 2009 , vote FOR. Otherwise vote against.

Management

None

For

796,000

Bank Leumi le-Israel B.M.

LUMI

M16043107

23-Oct-13

Annual

Confirmed

796,000

A2d

If you are a Joint Investment Trust Fund Manager, as defined in the Joint Investment Trust Law 1994, vote FOR. Otherwise vote against.

Management

None

Against

The Israel Fund is a closed end company, not an investment trust.

338,900

Mizrahi Tefahot Bank Ltd.

MZTF

M9540S110

23-Oct-13

Special

Confirmed

338,900

Elect Osnat Ronen as External Director as Defined According to 1999 Companies Law for a Period of Three Years

Management

For

338,900

Mizrahi Tefahot Bank Ltd.

MZTF

M9540S110

23-Oct-13

Special

Confirmed

338,900

Reelect Joseph Shachak as External Director Defined According to Article 301 of Proper Conduct of Banking Business Regulations for an Additional Three Year Period

Management

For

338,900

Mizrahi Tefahot Bank Ltd.

MZTF

M9540S110

23-Oct-13

Special

Confirmed

338,900

Vote FOR if you are a controlling shareholder or have a personal interest in one or several resolutions, as indicated in the proxy card; otherwise, vote AGAINST. You may not abstain. If you vote FOR, please provide an explanation to your account manager

Management

None

Against

No personal interest.

338,900

Mizrahi Tefahot Bank Ltd.

MZTF

M9540S110

23-Oct-13

Special

Confirmed

338,900

A2a

If you are an Interest Holder as defined in Section 1 of the Securities Law, 1968, vote FOR. Otherwise vote against.

Management

None

Against

No controlling interest, nor position within the company, but we are an institutional investor.

338,900

Mizrahi Tefahot Bank Ltd.

MZTF

M9540S110

23-Oct-13

Special

Confirmed

338,900

A2b

If you are an Institutional Investor as defined in Regulation 1 of the Supervision Financial Services Regulations 2009 or a Manager of a Joint Investment Trust Fund as defined in the Joint Investment Trust Law, 1994, vote FOR. Otherwise vote against.

Management

None

For

338,900

Mizrahi Tefahot Bank Ltd.

MZTF

M9540S110

23-Oct-13

Special

Confirmed

338,900

A2c

If you are a Senior Officer as defined in Section 37(D) of the Securities Law, 1968, vote FOR. Otherwise vote against.

Management

None

Against

No controlling interest, nor position within the company, but we are an institutional investor.

153,000

Ituran Location and Control Ltd.

ITRN

M6158M104

31-Oct-13

Special

Confirmed

153,000

Approve Compensation Policy for the Directors and Officers of the Company

Management

For

Against

After some engagement with the company, this draft of the policy looks poorly structured, with oversight of discretionary bonuses given to related parties (the Sheratskys), an annual bonus linked in part to a fixed PBT figure (USD 24m, 2012 was USD 38m), a significant stock price performance component calculated relative to the broader benchmark, all variable pay in cash and very little deferred. In short there are various reasons why this policy needs reviewing, however even if voted through tomorrow as a frame policy there will apparently be another vote before it is ratified for application in the current year.

153,000

Ituran Location and Control Ltd.

ITRN

M6158M104

31-Oct-13

Special

Confirmed

153,000

Management

None

Against

Not a controlling shareholder.

53,000

Perrigo Company

PRGO

714290103

18-Nov-13

Special

Confirmed

53,000

Approve Merger Agreement

Management

For

53,000

Perrigo Company

PRGO

714290103

18-Nov-13

Special

Confirmed

53,000

Approve Creation of Distributable Reserves

Management

For

53,000

Perrigo Company

PRGO

714290103

18-Nov-13

Special

Confirmed

53,000

Advisory Vote on Golden Parachutes

Management

For

53,000

Perrigo Company

PRGO

714290103

18-Nov-13

Special

Confirmed

53,000

Amend Executive Incentive Bonus Plan

Management

For

Abstain

This item plans to reclassify the payments as performance-based in order to allow tax deductibility which appears to be neutral/positive for shareholder value. However, we are struggling to find full details on this matter, and concerned that it would allow easing of performance criteria under a different guise.

53,000

Perrigo Company

PRGO

714290103

18-Nov-13

Special

Confirmed

53,000

Amend Omnibus Stock Plan

Management

For

Abstain

Much of the plan looks reasonable, including dilution rates however there are two noticeable practices which fall short of best practice: i) that a change of control triggers an automatic vesting of all equity awards (ie a poison pill) and ISS recommends this be tied to employee cuts as well (a double trigger); ii) that shares can be recycled i.e. employees may fund purchase of shares under the LTIP, using shares they already hold. These then can be reissued, muddying the levels of dilution going on.

53,000

Perrigo Company

PRGO

714290103

18-Nov-13

Special

Confirmed

53,000

Adjourn Meeting

Management

For

54,735

Elbit Systems Ltd.

ESLT

M3760D101

19-Nov-13

Annual

Confirmed

54,735

1.1

Reelect Michael Federmann as Director Until the End of the Next Annual General Meeting

Management

For

54,735

Elbit Systems Ltd.

ESLT

M3760D101

19-Nov-13

Annual

Confirmed

54,735

1.2

Reelect Moshe Arad as Director Until the End of the Next Annual General Meeting

Management

For

54,735

Elbit Systems Ltd.

ESLT

M3760D101

19-Nov-13

Annual

Confirmed

54,735

1.3

Reelect Avraham Asheri as Director Until the End of the Next Annual General Meeting

Management

For

Against

Asheri has served for 13 years, and serves on 4 other Boards. Appreciate this is a secretive industry and perhaps BoD relationships/discretion is key, but the Board needs refreshment.

54,735

Elbit Systems Ltd.

ESLT

M3760D101

19-Nov-13

Annual

Confirmed

54,735

1.4

Reelect David Federmann as Director Until the End of the Next Annual General Meeting

Management

For

54,735

Elbit Systems Ltd.

ESLT

M3760D101

19-Nov-13

Annual

Confirmed

54,735

1.5

Reelect Yigal Ne’eman as Director Until the End of the Next Annual General Meeting

Management

For

54,735

Elbit Systems Ltd.

ESLT

M3760D101

19-Nov-13

Annual

Confirmed

54,735

1.6

Reelect Rina Baum as Director Until the End of the Next Annual General Meeting

Management

For

54,735

Elbit Systems Ltd.

ESLT

M3760D101

19-Nov-13

Annual

Confirmed

54,735

1.7

Reelect Dov Ninveh as Director Until the End of the Next Annual General Meeting

Management

For

54,735

Elbit Systems Ltd.

ESLT

M3760D101

19-Nov-13

Annual

Confirmed

54,735

Reelect Dalia Rabin as External Director for an Additional Three Year Term

Management

For

54,735

Elbit Systems Ltd.

ESLT

M3760D101

19-Nov-13

Annual

Confirmed

54,735

Reappoint Kost, Forer, Gabbay & Kasierer as Auditors

Management

For

54,735

Elbit Systems Ltd.

ESLT

M3760D101

19-Nov-13

Annual

Confirmed

54,735

Review Consolidated Financial Statements for the Fiscal Year Ended December 31, 2012

Management

54,735

Elbit Systems Ltd.

ESLT

M3760D101

19-Nov-13

Annual

Confirmed

54,735

Presentation of Dividend Paid to Shareholders

Management

54,735

Elbit Systems Ltd.

ESLT

M3760D101

19-Nov-13

Annual

Confirmed

54,735

Presentation of Compensation Paid to Directors

Management

54,735

Elbit Systems Ltd.

ESLT

M3760D101

19-Nov-13

Annual

Confirmed

54,735

Presentation of Compensation Arrangement of Independent Auditor

Management

54,735

Elbit Systems Ltd.

ESLT

M3760D101

19-Nov-13

Annual

Confirmed

54,735

Management

None

Against

703,143

Shufersal Ltd.

SAE

M8411W101

21-Nov-13

Special

Confirmed

703,143

Approval of the Inclusion of a New Condition in the D&O Liability Insurance Coverage for 2013-2014, Regarding Claims Made Between August 1, 2013 and November 30, 2013

Management

For

703,143

Shufersal Ltd.

SAE

M8411W101

21-Nov-13

Special

Confirmed

703,143

Management

None

Against

703,143

Shufersal Ltd.

SAE

M8411W101

21-Nov-13

Special

Confirmed

703,143

A2a

If you are an Interest Holder as defined in Section 1 of the Securities Law, 1968, vote FOR. Otherwise vote against.

Management

None

Against

703,143

Shufersal Ltd.

SAE

M8411W101

21-Nov-13

Special

Confirmed

703,143

A2b

If you are a Senior Officer as defined in Section 37(D) of the Securities Law, 1968, vote FOR. Otherwise vote against.

Management

None

Against

703,143

Shufersal Ltd.

SAE

M8411W101

21-Nov-13

Special

Confirmed

703,143

A2c

Management

None

For

450,253

Golf & Co Group Ltd.

GOLF

M5215V107

18-Dec-13

Annual/Special

Confirmed

450,253

Discuss Financial Statements and the Report of the Board for 2012

Management

450,253

Golf & Co Group Ltd.

GOLF

M5215V107

18-Dec-13

Annual/Special

Confirmed

450,253

Reappoint Kost Forer Gabbay & Kasierer as Auditors

Management

For

Against

From 1 year to the next, audit and tax service fees have risen by ILS42k (up 16 percent), while other service fees have risen ILS 45k (up 60 percent), which seems out of kilter given few changes to the structure of the company.

450,253

Golf & Co Group Ltd.

GOLF

M5215V107

18-Dec-13

Annual/Special

Confirmed

450,253

Reelect Directors Until the End of the Next Annual General Meeting

Management

For

Against

Bundled resolution.

450,253

Golf & Co Group Ltd.

GOLF

M5215V107

18-Dec-13

Annual/Special

Confirmed

450,253

Approve Compensation Policy for the Directors and Officers of the Company

Management

For

450,253

Golf & Co Group Ltd.

GOLF

M5215V107

18-Dec-13

Annual/Special

Confirmed

450,253

Management

None

Against

450,253

Golf & Co Group Ltd.

GOLF

M5215V107

18-Dec-13

Annual/Special

Confirmed

450,253

A2a

If you are an Interest Holder as defined in Section 1 of the Securities Law, 1968, vote FOR. Otherwise vote against.

Management

None

Against

450,253

Golf & Co Group Ltd.

GOLF

M5215V107

18-Dec-13

Annual/Special

Confirmed

450,253

A2b

If you are a Senior Officer as defined in Section 37(D) of the Securities Law, 1968, vote FOR. Otherwise vote against.

Management

None

Against

450,253

Golf & Co Group Ltd.

GOLF

M5215V107

18-Dec-13

Annual/Special

Confirmed

450,253

A2c

Management

None

For

338,900

Mizrahi Tefahot Bank Ltd.

MZTF

M9540S110

19-Dec-13

Annual

Confirmed

338,900

Discuss Financial Statements and the Report of the Board for 2012

Management

338,900

Mizrahi Tefahot Bank Ltd.

MZTF

M9540S110

19-Dec-13

Annual

Confirmed

338,900

2.1

Reelect Moshe Vidman as Director Until the End of the Next Annual General Meeting

Management

For

338,900

Mizrahi Tefahot Bank Ltd.

MZTF

M9540S110

19-Dec-13

Annual

Confirmed

338,900

2.2

Reelect Moshe Wertheim as Director Until the End of the Next Annual General Meeting

Management

For

338,900

Mizrahi Tefahot Bank Ltd.

MZTF

M9540S110

19-Dec-13

Annual

Confirmed

338,900

2.3

Reelect Zvi Ephrat as Director Until the End of the Next Annual General Meeting

Management

For

338,900

Mizrahi Tefahot Bank Ltd.

MZTF

M9540S110

19-Dec-13

Annual

Confirmed

338,900

2.4

Reelect Ron Gazit as Director Until the End of the Next Annual General Meeting

Management

For

338,900

Mizrahi Tefahot Bank Ltd.

MZTF

M9540S110

19-Dec-13

Annual

Confirmed

338,900

2.5

Reelect Liora Ofer as Director Until the End of the Next Annual General Meeting

Management

For

338,900

Mizrahi Tefahot Bank Ltd.

MZTF

M9540S110

19-Dec-13

Annual

Confirmed

338,900

2.6

Reelect Mordechai Meir as Director Until the End of the Next Annual General Meeting

Management

For

338,900

Mizrahi Tefahot Bank Ltd.

MZTF

M9540S110

19-Dec-13

Annual

Confirmed

338,900

2.7

Reelect Jonathan Kaplan as Director Until the End of the Next Annual General Meeting

Management

For

338,900

Mizrahi Tefahot Bank Ltd.

MZTF

M9540S110

19-Dec-13

Annual

Confirmed

338,900

2.8

Reelect Joav-Asher Nachshon as Director Until the End of the Next Annual General Meeting

Management

For

338,900

Mizrahi Tefahot Bank Ltd.

MZTF

M9540S110

19-Dec-13

Annual

Confirmed

338,900

Reappoint Brightman Almagor Zohar & Co. as Auditors and Discuss Their Remuneration

Management

For

176,000

First International Bank of Israel Ltd.

FTIN

M1648G114

23-Dec-13

Annual

Confirmed

176,000

Report on Continuing Directors

Management

176,000

First International Bank of Israel Ltd.

FTIN

M1648G114

23-Dec-13

Annual

Confirmed

176,000

Discuss Financial Statements and the Report of the Board for 2012

Management

176,000

First International Bank of Israel Ltd.

FTIN

M1648G114

23-Dec-13

Annual

Confirmed

176,000

Report on Auditor Fees for 2012

Management

176,000

First International Bank of Israel Ltd.

FTIN

M1648G114

23-Dec-13

Annual

Confirmed

176,000

Reappoint KPMG Somekh Chaikin as Auditors and Authorize Board to Fix Their Remuneration

Management

For

176,000

First International Bank of Israel Ltd.

FTIN

M1648G114

23-Dec-13

Annual

Confirmed

176,000

Reelect Zeev Ben-Asher as External Director for a Three Years Term

Management

For

176,000

First International Bank of Israel Ltd.

FTIN

M1648G114

23-Dec-13

Annual

Confirmed

176,000

Management

None

Against

No personal interest.

176,000

First International Bank of Israel Ltd.

FTIN

M1648G114

23-Dec-13

Annual

Confirmed

176,000

A2a

If you are an Interest Holder as defined in Section 1 of the Securities Law, 1968, vote FOR. Otherwise vote against.

Management

None

Against

Not an interest holder.

176,000

First International Bank of Israel Ltd.

FTIN

M1648G114

23-Dec-13

Annual

Confirmed

176,000

A2b

If you are a Senior Officer as defined in Section 37(D) of the Securities Law, 1968, vote FOR. Otherwise vote against.

Management

None

Against

Not a senior officer.

176,000

First International Bank of Israel Ltd.

FTIN

M1648G114

23-Dec-13

Annual

Confirmed

176,000

A2c

Management

None

For

153,000

Ituran Location and Control Ltd.

ITRN

M6158M104

26-Dec-13

Annual

Confirmed

153,000

Discuss Financial Statements and the Report of the Board for 2012

Management

153,000

Ituran Location and Control Ltd.

ITRN

M6158M104

26-Dec-13

Annual

Confirmed

153,000

Reappoint Fahn Kanne & co. as Auditors and Authorize Board to Fix Their Remuneration

Management

For

153,000

Ituran Location and Control Ltd.

ITRN

M6158M104

26-Dec-13

Annual

Confirmed

153,000

3.1

Reelect Eyal Sheratzky as Director Until the End of the Next Annual General Meeting

Management

For

153,000

Ituran Location and Control Ltd.

ITRN

M6158M104

26-Dec-13

Annual

Confirmed

153,000

3.2

Reelect Yoav Kahane as Director Until the End of the Next Annual General Meeting

Management

For

153,000

Ituran Location and Control Ltd.

ITRN

M6158M104

26-Dec-13

Annual

Confirmed

153,000

3.3

Reelect Yigal Shani as Director Until the End of the Next Annual General Meeting

Management

For

153,000

Ituran Location and Control Ltd.

ITRN

M6158M104

26-Dec-13

Annual

Confirmed

153,000

3.4

Reelect Amos Kurz as Director Until the End of the Next Annual General Meeting

Management

For

54,735

Elbit Systems Ltd.

ESLT

M3760D101

7-Jan-14

Special

Confirmed

54,735

Approve Compensation Policy for the Directors and Officers of the Company

Management

For

Against

��

While much of the scheme looks reasonable and the disclosure required is a big improvement we will vote AGAINST this item for the following reasons: the CEO receives a fixed percentage of non-GAAP net profit (assuming the company hits 80 percent of its earnings target for the year), variable pay for all employees is at a range of 30-80 percent of total compensation, meaning that it might hit quadruple salary (which seems excessive) and all variable pay is tied to a single threshold the company achieving 80 percent or more of its earnings target. We are uncertain that such a narrow focus is ideal.We have inadequate time to provide feedback but will notify the company.

54,735

Elbit Systems Ltd.

ESLT

M3760D101

7-Jan-14

Special

Confirmed

54,735

Management

None

Against

258,000

Frutarom Industries Ltd.

FRUT

M4692H103

14-Jan-14

Annual/Special

Confirmed

258,000

Discuss Financial Statements and the Report of the Board for 2012

Management

258,000

Frutarom Industries Ltd.

FRUT

M4692H103

14-Jan-14

Annual/Special

Confirmed

258,000

2.1

Reelect John J. Farber as Director Until the End of the Next Annual General Meeting

Management

For

258,000

Frutarom Industries Ltd.

FRUT

M4692H103

14-Jan-14

Annual/Special

Confirmed

258,000

2.2

Reelect Maya Farber as Director Until the End of the Next Annual General Meeting

Management

For

258,000

Frutarom Industries Ltd.

FRUT

M4692H103

14-Jan-14

Annual/Special

Confirmed

258,000

2.3

Reelect Sandra R. Farber as Director Until the End of the Next Annual General Meeting

Management

For

258,000

Frutarom Industries Ltd.

FRUT

M4692H103

14-Jan-14

Annual/Special

Confirmed

258,000

2.4

Reelect Hans Abderhalden as Director Until the End of the Next Annual General Meeting

Management

For

258,000

Frutarom Industries Ltd.

FRUT

M4692H103

14-Jan-14

Annual/Special

Confirmed

258,000

2.5

Reelect Gil Leidner as Director Until the End of the Next Annual General Meeting

Management

For

258,000

Frutarom Industries Ltd.

FRUT

M4692H103

14-Jan-14

Annual/Special

Confirmed

258,000

3.1

Reelect Yacov Elinav as External Director for a Three Year Term

Management

For

258,000

Frutarom Industries Ltd.

FRUT

M4692H103

14-Jan-14

Annual/Special

Confirmed

258,000

3.2

Reelect Isaac Angel as External Director for a Three Year Term

Management

For

258,000

Frutarom Industries Ltd.

FRUT

M4692H103

14-Jan-14

Annual/Special

Confirmed

258,000

3.3

Elect Dafna Sharir as External Director for a Three Year Term

Management

For

258,000

Frutarom Industries Ltd.

FRUT

M4692H103

14-Jan-14

Annual/Special

Confirmed

258,000

Reappoint Kesselman & Kesselman, PwC Israel as Auditors and Authorize Board to Fix Their Remuneration

Management

For

258,000

Frutarom Industries Ltd.

FRUT

M4692H103

14-Jan-14

Annual/Special

Confirmed

258,000

Approve Compensation Policy for the Directors and Officers of the Company

Management

For

258,000

Frutarom Industries Ltd.

FRUT

M4692H103

14-Jan-14

Annual/Special

Confirmed

258,000

Approve Purchase of D&O (Excluding the Controlling Shareholder and His Relatives) Liability Insurance Policy

Management

For

258,000

Frutarom Industries Ltd.

FRUT

M4692H103

14-Jan-14

Annual/Special

Confirmed

258,000

Management

None

Against

258,000

Frutarom Industries Ltd.

FRUT

M4692H103

14-Jan-14

Annual/Special

Confirmed

258,000

A2a

If you are an Interest Holder as defined in Section 1 of the Securities Law, 1968, vote FOR. Otherwise vote against.

Management

None

Against

258,000

Frutarom Industries Ltd.

FRUT

M4692H103

14-Jan-14

Annual/Special

Confirmed

258,000

A2b

If you are a Senior Officer as defined in Section 37(D) of the Securities Law, 1968, vote FOR. Otherwise vote against.

Management

None

Against

258,000

Frutarom Industries Ltd.

FRUT

M4692H103

14-Jan-14

Annual/Special

Confirmed

258,000

A2c

Management

None

For

2,101,000

Bezeq The Israeli Telecommunication Corp. Ltd.

BEZQ

M2012Q100

27-Jan-14

Special

Confirmed

2,101,000

Reelect Ytzhak Edelman as an External Director for a Three Year Term

Management

For

2,101,000

Bezeq The Israeli Telecommunication Corp. Ltd.

BEZQ

M2012Q100

27-Jan-14

Special

Confirmed

2,101,000

Approve Purchase of Additional Amount of Digital Converters by DBS of Eurocom Digital Communications Ltd., a Subsidiary of Eurocom Communications Ltd., an Indirect Shareholder (Including Pricing and Payment Terms)

Management

For

2,101,000

Bezeq The Israeli Telecommunication Corp. Ltd.

BEZQ

M2012Q100

27-Jan-14

Special

Confirmed

2,101,000

Approve Purchase of Additional Amount of Power Suppliers for Digital Converters by DBS of Eurocom Digital Communications Ltd., a Subsidiary of Eurocom Communications Ltd., an Indirect Shareholder

Management

For

2,101,000

Bezeq The Israeli Telecommunication Corp. Ltd.

BEZQ

M2012Q100

27-Jan-14

Special

Confirmed

2,101,000

Management

None

Against

Not a controlling shareholder.

153,000

Ituran Location and Control Ltd.

ITRN

M6158M104

28-Jan-14

Special

Confirmed

153,000

Approve Compensation Terms of Son Izzy Sheratzky, President and Controlling Shareholder

Management

For

153,000

Ituran Location and Control Ltd.

ITRN

M6158M104

28-Jan-14

Special

Confirmed

153,000

Approve Employment Terms of Eyal Sheratzky, Co-CEO and the Son Izzy of Sheratzky, Controlling Shareholder

Management

For

153,000

Ituran Location and Control Ltd.

ITRN

M6158M104

28-Jan-14

Special

Confirmed

153,000

Approve Employment Terms of Nir Sheratzky, Co-CEO and the Son Izzy of Sheratzky, Controlling Shareholder

Management

For

153,000

Ituran Location and Control Ltd.

ITRN

M6158M104

28-Jan-14

Special

Confirmed

153,000

Approve Employment Terms of Mr. Gil Sheratzky, CEO of E-Com Global Electronic Commerce Ltd., a Wholly Owned Subsidiary, and the Son Izzy of Sheratzky, Controlling Shareholder

Management

For

153,000

Ituran Location and Control Ltd.

ITRN

M6158M104

28-Jan-14

Special

Confirmed

153,000

Approve Consulting Agreement with Professor Yehuda Kahane, a Controlling Shareholder

Management

For

153,000

Ituran Location and Control Ltd.

ITRN

M6158M104

28-Jan-14

Special

Confirmed

153,000

Approve Consulting Agreement Between Avner Kurz, a Controlling Shareholder, and a Brazilian Subsidiary

Management

For

153,000

Ituran Location and Control Ltd.

ITRN

M6158M104

28-Jan-14

Special

Confirmed

153,000

Approve Purchase of D&O Liability Insurance Policies, from Time to Time, Including to Controlling Shareholders and Their Relatives, Who Serve at the Company and its Subsidiaries

Management

For

153,000

Ituran Location and Control Ltd.

ITRN

M6158M104

28-Jan-14

Special

Confirmed

153,000

Amend Articles of Association Regarding Insurance and Indemnification of Office Holders

Management

For

153,000

Ituran Location and Control Ltd.

ITRN

M6158M104

28-Jan-14

Special

Confirmed

153,000

Subject to the Approval of Item 8, Approve of Issue and Update Indemnification Agreements from Time to Time, Including to Controlling Shareholders and Their Relatives, Who Serve at the Company and its Subsidiaries

Management

For

153,000

Ituran Location and Control Ltd.

ITRN

M6158M104

28-Jan-14

Special

Confirmed

153,000

Management

None

Against

584,000

Bank Hapoalim Ltd.

POLI

M1586M115

11-Feb-14

Special

Confirmed

584,000

Approve Compensation Policy for the Directors and Officers of the Company

Management

For

584,000

Bank Hapoalim Ltd.

POLI

M1586M115

11-Feb-14

Special

Confirmed

584,000

Management

None

Against

Not a controlling shareholder.

584,000

Bank Hapoalim Ltd.

POLI

M1586M115

11-Feb-14

Special

Confirmed

584,000

A2a

If you are an Interest Holder as defined in Section 1 of the Securities Law, 1968, vote FOR. Otherwise vote against.

Management

None

Against

Not an interest holder.

584,000

Bank Hapoalim Ltd.

POLI

M1586M115

11-Feb-14

Special

Confirmed

584,000

A2b

If you are a Senior Officer as defined in Section 37(D) of the Securities Law, 1968, vote FOR. Otherwise vote against.

Management

None

Against

Not a senior officer.

584,000

Bank Hapoalim Ltd.

POLI

M1586M115

11-Feb-14

Special

Confirmed

584,000

A2c

Management

None

For

796,000

Bank Leumi le-Israel B.M.

LUMI

M16043107

11-Feb-14

Special

Confirmed

796,000

1.1

Approve Compensation Policy for the Directors and Officers of the Company, for 2013

Management

For

796,000

Bank Leumi le-Israel B.M.

LUMI

M16043107

11-Feb-14

Special

Confirmed

796,000

1.2

Approve Compensation Policy for the Directors and Officers of the Company for 2014-2016

Management

For

796,000

Bank Leumi le-Israel B.M.

LUMI

M16043107

11-Feb-14

Special

Confirmed

796,000

2.1

Approve Terms of Annual Bonus Grant to David Brodet, Chairman, for 2013

Management

For

796,000

Bank Leumi le-Israel B.M.

LUMI

M16043107

11-Feb-14

Special

Confirmed

796,000

2.2

Approve Terms of Annual Bonus Grant to David Brodet, Chairman, for 2014-2016

Management

For

796,000

Bank Leumi le-Israel B.M.

LUMI

M16043107

11-Feb-14

Special

Confirmed

796,000

Approve Termination Terms of Rakefet Aminoach, CEO

Management

For

796,000

Bank Leumi le-Israel B.M.

LUMI

M16043107

11-Feb-14

Special

Confirmed

796,000

4.1

Approve Framework Terms of Annual Bonus to Rakefet Aminoach, CEO for 2013

Management

For

796,000

Bank Leumi le-Israel B.M.

LUMI

M16043107

11-Feb-14

Special

Confirmed

796,000

4.2

Approve Framework Terms of Annual Bonus to Rakefet Aminoach, CEO for 2014-2016

Management

For

796,000

Bank Leumi le-Israel B.M.

LUMI

M16043107

11-Feb-14

Special

Confirmed

796,000

Amend Articles of Association, Reflecting Legislative Changes Made in The Banking Law (Legislative Amendments), 2012

Management

For

796,000

Bank Leumi le-Israel B.M.

LUMI

M16043107

11-Feb-14

Special

Confirmed

796,000

Management

None

Against

No personal interest in above resolutions.

796,000

Bank Leumi le-Israel B.M.

LUMI

M16043107

11-Feb-14

Special

Confirmed

796,000

A2a

If you are an Interest Holder as defined in Section 1 of the Securities Law, 1968, vote FOR. Otherwise vote against.

Management

None

Against

Not an interested party.

796,000

Bank Leumi le-Israel B.M.

LUMI

M16043107

11-Feb-14

Special

Confirmed

796,000

A2b

If you are a Senior Officer as defined in Section 37(D) of the Securities Law, 1968, vote FOR. Otherwise vote against.

Management

None

Against

Not a senior officer.

796,000

Bank Leumi le-Israel B.M.

LUMI

M16043107

11-Feb-14

Special

Confirmed

796,000

A2c

Management

None

For

176,000

First International Bank of Israel Ltd.

FTIN

M1648G114

16-Feb-14

Special

Confirmed

176,000

Approve Compensation Policy for the Directors and Officers of the Company

Management

For

176,000

First International Bank of Israel Ltd.

FTIN

M1648G114

16-Feb-14

Special

Confirmed

176,000

Management

None

Against

No personal interest.

176,000

First International Bank of Israel Ltd.

FTIN

M1648G114

16-Feb-14

Special

Confirmed

176,000

A2a

If you are an Interest Holder as defined in Section 1 of the Securities Law, 1968, vote FOR. Otherwise vote against.

Management

None

Against

Not an interested party.

176,000

First International Bank of Israel Ltd.

FTIN

M1648G114

16-Feb-14

Special

Confirmed

176,000

A2b

If you are a Senior Officer as defined in Section 37(D) of the Securities Law, 1968, vote FOR. Otherwise vote against.

Management

None

Against

Not a senior officer.

176,000

First International Bank of Israel Ltd.

FTIN

M1648G114

16-Feb-14

Special

Confirmed

176,000

A2c

Management

None

For

66,000

Rami Levi Chain Stores Hashikma Marketing 2006 Ltd.

RMLI

M8194J103

16-Feb-14

Special

Confirmed

66,000

1.1

Reelect Uri Zazon as External Director for an Additional Three Year Term

Management

For

66,000

Rami Levi Chain Stores Hashikma Marketing 2006 Ltd.

RMLI

M8194J103

16-Feb-14

Special

Confirmed

66,000

1.2

Reelect Erez Huga as External Director for an Additional Three Year Term

Management

For

66,000

Rami Levi Chain Stores Hashikma Marketing 2006 Ltd.

RMLI

M8194J103

16-Feb-14

Special

Confirmed

66,000

Management

None

Against

No personal interest.

66,000

Rami Levi Chain Stores Hashikma Marketing 2006 Ltd.

RMLI

M8194J103

16-Feb-14

Special

Confirmed

66,000

A2a

If you are an Interest Holder as defined in Section 1 of the Securities Law, 1968, vote FOR. Otherwise vote against.

Management

None

Against

Not an interest holder.

66,000

Rami Levi Chain Stores Hashikma Marketing 2006 Ltd.

RMLI

M8194J103

16-Feb-14

Special

Confirmed

66,000

A2b

If you are a Senior Officer as defined in Section 37(D) of the Securities Law, 1968, vote FOR. Otherwise vote against.

Management

None

Against

Not a senior officer.

66,000

Rami Levi Chain Stores Hashikma Marketing 2006 Ltd.

RMLI

M8194J103

16-Feb-14

Special

Confirmed

66,000

A2c

Management

None

For

1,955

Israel Corporation (The)

ILCO

M8785N109

18-Feb-14

Annual

Confirmed

1,955

Discuss Financial Statements and the Report of the Board for 2012

Management

1,955

Israel Corporation (The)

ILCO

M8785N109

18-Feb-14

Annual

Confirmed

1,955

Reappoint KPMG Somekh Chaikin as Auditors and Authorize Board to Fix Their Remuneration

Management

For

Against

Aggregation of audit/non-audit fees.

1,955

Israel Corporation (The)

ILCO

M8785N109

18-Feb-14

Annual

Confirmed

1,955

3.1

Reelect Ron Moskovitz as Director Until the End of the Next Annual General Meeting

Management

For

1,955

Israel Corporation (The)

ILCO

M8785N109

18-Feb-14

Annual

Confirmed

1,955

3.2

Reelect Amnon Lion as Director Until the End of the Next Annual General Meeting

Management

For

Against

Once again the company is planning to elect two non-independents to the audit committee.

1,955

Israel Corporation (The)

ILCO

M8785N109

18-Feb-14

Annual

Confirmed

1,955

3.3

Reelect Zeev Nahari as Director Until the End of the Next Annual General Meeting

Management

For

Against

Once again the company is planning to elect two non-independents to the audit committee.

1,955

Israel Corporation (The)

ILCO

M8785N109

18-Feb-14

Annual

Confirmed

1,955

3.4

Reelect Zehavit Cohen as Director Until the End of the Next Annual General Meeting

Management

For

1,955

Israel Corporation (The)

ILCO

M8785N109

18-Feb-14

Annual

Confirmed

1,955

3.5

Reelect Yoav Doppelt as Director Until the End of the Next Annual General Meeting

Management

For

1,955

Israel Corporation (The)

ILCO

M8785N109

18-Feb-14

Annual

Confirmed

1,955

3.6

Reelect Aviad Kaufman as Director Until the End of the Next Annual General Meeting

Management

For

1,955

Israel Corporation (The)

ILCO

M8785N109

18-Feb-14

Annual

Confirmed

1,955

3.7

Reelect Eitan Raff as Director Until the End of the Next Annual General Meeting

Management

For

1,955

Israel Corporation (The)

ILCO

M8785N109

18-Feb-14

Annual

Confirmed

1,955

3.8

Reelect Dan Suesskind as Director Until the End of the Next Annual General Meeting

Management

For

1,955

Israel Corporation (The)

ILCO

M8785N109

18-Feb-14

Annual

Confirmed

1,955

3.9

Reelect Michael Bricker as Director Until the End of the Next Annual General Meeting

Management

For

1,955

Israel Corporation (The)

ILCO

M8785N109

18-Feb-14

Annual

Confirmed

1,955

Approve Directors’ Compensation

Management

For

Against

This item was only provided in Hebrew, and requires investors to seek out the necessary information, rather than presenting it to shareholders openly. We feel this should be discouraged.

1,955

Israel Corporation (The)

ILCO

M8785N109

18-Feb-14

Annual

Confirmed

1,955

Management

None

Against

1,955

Israel Corporation (The)

ILCO

M8785N109

18-Feb-14

Annual

Confirmed

1,955

A2a

If you are an Interest Holder as defined in Section 1 of the Securities Law, 1968, vote FOR. Otherwise vote against.

Management

None

Against

1,955

Israel Corporation (The)

ILCO

M8785N109

18-Feb-14

Annual

Confirmed

1,955

A2b

If you are a Senior Officer as defined in Section 37(D) of the Securities Law, 1968, vote FOR. Otherwise vote against.

Management

None

Against

1,955

Israel Corporation (The)

ILCO

M8785N109

18-Feb-14

Annual

Confirmed

1,955

A2c

Management

None

For

183,820

Teva Pharmaceutical Industries Ltd.

TEVA

M8769Q102

24-Feb-14

Special

Confirmed

183,820

Approve Employment Terms of Erez Vigodman, President and Chief Executive Officer-Designate

Management

For

450,253

Golf & Co Group Ltd.

GOLF

M5215V107

2-Mar-14

Special

Confirmed

450,253

Approve Employment Terms of Aharon Meidan, Incoming Active Chairman

Management

For

450,253

Golf & Co Group Ltd.

GOLF

M5215V107

2-Mar-14

Special

Confirmed

450,253

Approve Updated Management Agreement with Kitan Consolidated Ltd., a Company Wholly Owned by Clal Industries Ltd., the Controlling Shareholder

Management

For

450,253

Golf & Co Group Ltd.

GOLF

M5215V107

2-Mar-14

Special

Confirmed

450,253

Management

None

Against

Not a controlling shareholder.

450,253

Golf & Co Group Ltd.

GOLF

M5215V107

2-Mar-14

Special

Confirmed

450,253

A2a

If you are an Interest Holder as defined in Section 1 of the Securities Law, 1968, vote FOR. Otherwise vote against.

Management

None

Against

Not an interested party.

450,253

Golf & Co Group Ltd.

GOLF

M5215V107

2-Mar-14

Special

Confirmed

450,253

A2b

If you are a Senior Officer as defined in Section 37(D) of the Securities Law, 1968, vote FOR. Otherwise vote against.

Management

None

Against

Not a senior officer.

450,253

Golf & Co Group Ltd.

GOLF

M5215V107

2-Mar-14

Special

Confirmed

450,253

A2c

Management

None

For

523,000

Bank Hapoalim Ltd.

POLI

M1586M115

12-Mar-14

Special

Confirmed

523,000

Reelect Yosef Yarom as External Director, as Defined in Directive 301 of the Proper Conduct of Banking Business Regulations, for a Three Year Term

Management

For

523,000

Bank Hapoalim Ltd.

POLI

M1586M115

12-Mar-14

Special

Confirmed

523,000

Management

None

Against

Not a controlling shareholder.

523,000

Bank Hapoalim Ltd.

POLI

M1586M115

12-Mar-14

Special

Confirmed

523,000

A2a

If you are an Interest Holder as defined in Section 1 of the Securities Law, 1968, vote FOR. Otherwise vote against.

Management

None

Against

Not an Interest Holder.

523,000

Bank Hapoalim Ltd.

POLI

M1586M115

12-Mar-14

Special

Confirmed

523,000

A2b

If you are a Senior Officer as defined in Section 37(D) of the Securities Law, 1968, vote FOR. Otherwise vote against.

Management

None

Against

Not a Senior Officer.

523,000

Bank Hapoalim Ltd.

POLI

M1586M115

12-Mar-14

Special

Confirmed

523,000

A2c

Management

None

For

2,332,000

Bezeq The Israeli Telecommunication Corp. Ltd.

BEZQ

M2012Q100

19-Mar-14

Special

Confirmed

2,332,000

Approve Update to Compensation Policy for the Directors and Officers of the Company

Management

For

2,332,000

Bezeq The Israeli Telecommunication Corp. Ltd.

BEZQ

M2012Q100

19-Mar-14

Special

Confirmed

2,332,000

Approve Bonus Criteria for the Performance Based Bonus of the CEO for 2014

Management

For

2,332,000

Bezeq The Israeli Telecommunication Corp. Ltd.

BEZQ

M2012Q100

19-Mar-14

Special

Confirmed

2,332,000

Management

None

Against

Not a controlling shareholder.

2,332,000

Bezeq The Israeli Telecommunication Corp. Ltd.

BEZQ

M2012Q100

19-Mar-14

Special

Confirmed

2,332,000

A2c

Management

None

For

15,637

Hadera Paper Ltd.

HAP

M52514102

20-Mar-14

Special

Confirmed

15,637

Elect Raphael Yehoshua Priell as External Director for a Three Year Term

Management

For

15,637

Hadera Paper Ltd.

HAP

M52514102

20-Mar-14

Special

Confirmed

15,637

Management

None

Against

Not a controlling shareholder or any personal interest.

15,637

Hadera Paper Ltd.

HAP

M52514102

20-Mar-14

Special

Confirmed

15,637

A2a

If you are an Interest Holder as defined in Section 1 of the Securities Law, 1968, vote FOR. Otherwise vote against.

Management

None

Against

Not an interested party.

15,637

Hadera Paper Ltd.

HAP

M52514102

20-Mar-14

Special

Confirmed

15,637

A2b

If you are a Senior Officer as defined in Section 37(D) of the Securities Law, 1968, vote FOR. Otherwise vote against.

Management

None

Against

Not a senior officer.

15,637

Hadera Paper Ltd.

HAP

M52514102

20-Mar-14

Special

Confirmed

15,637

A2c

Management

None

For

1,955

Israel Corporation (The)

ILCO

M8785N109

24-Mar-14

Special

Confirmed

1,955

Elect Oded Degani as External Director for a Three Year Term

Management

For

��

For

1,955

Israel Corporation (The)

ILCO

M8785N109

24-Mar-14

Special

Confirmed

1,955

Management

None

Against

Not a controlling shareholder.

1,955

Israel Corporation (The)

ILCO

M8785N109

24-Mar-14

Special

Confirmed

1,955

A2a

If you are an Interest Holder as defined in Section 1 of the Securities Law, 1968, vote FOR. Otherwise vote against.

Management

None

Against

Not an interest holder.

1,955

Israel Corporation (The)

ILCO

M8785N109

24-Mar-14

Special

Confirmed

1,955

A2b

If you are a Senior Officer as defined in Section 37(D) of the Securities Law, 1968, vote FOR. Otherwise vote against.

Management

None

Against

Not a senior officer.

1,955

Israel Corporation (The)

ILCO

M8785N109

24-Mar-14

Special

Confirmed

1,955

A2c

Management

None

For

310,900

Mizrahi Tefahot Bank Ltd.

MZTF

M9540S110

25-Mar-14

Special

Confirmed

310,900

Approve One-Time Bonus of NIS 615,000 for 2012 to Yaakov Peri, Former Chairman

Management

For

310,900

Mizrahi Tefahot Bank Ltd.

MZTF

M9540S110

25-Mar-14

Special

Confirmed

310,900

Approve Purchase of D&O Liability Insurance Policies For Directors and Officers of the Company and Companies in the Company’s Group

Management

For

310,900

Mizrahi Tefahot Bank Ltd.

MZTF

M9540S110

25-Mar-14

Special

Confirmed

310,900

Management

None

Against

No personal interest.

310,900

Mizrahi Tefahot Bank Ltd.

MZTF

M9540S110

25-Mar-14

Special

Confirmed

310,900

A2a

If you are an Interest Holder as defined in Section 1 of the Securities Law, 1968, vote FOR. Otherwise vote against.

Management

None

Against

Not an Interest Holder.

310,900

Mizrahi Tefahot Bank Ltd.

MZTF

M9540S110

25-Mar-14

Special

Confirmed

310,900

A2b

If you are a Senior Officer as defined in Section 37(D) of the Securities Law, 1968, vote FOR. Otherwise vote against.

Management

None

Against

Not a Senior Officer.

310,900

Mizrahi Tefahot Bank Ltd.

MZTF

M9540S110

25-Mar-14

Special

Confirmed

310,900

A2c

Management

None

For

2,332,000

Bezeq The Israeli Telecommunication Corp. Ltd.

BEZQ

M2012Q100

27-Mar-14

Special

Confirmed

2,332,000

Approve Dividend Distribution of NIS 0.29 Per Share

Management

For

450,253

Golf & Co Group Ltd.

GOLF

M5215V107

6-Apr-14

Special

Confirmed

450,253

Approve Management Agreement with Management Company, Represented by Eliezer Mizroch, CEO

Management

For

450,253

Golf & Co Group Ltd.

GOLF

M5215V107

6-Apr-14

Special

Confirmed

450,253

Management

None

Against

Not a controlling shareholder.

450,253

Golf & Co Group Ltd.

GOLF

M5215V107

6-Apr-14

Special

Confirmed

450,253

A2a

If you are an Interest Holder as defined in Section 1 of the Securities Law, 1968, vote FOR. Otherwise vote against.

Management

None

Against

Not an interested party.

450,253

Golf & Co Group Ltd.

GOLF

M5215V107

6-Apr-14

Special

Confirmed

450,253

A2b

If you are a Senior Officer as defined in Section 37(D) of the Securities Law, 1968, vote FOR. Otherwise vote against.

Management

None

Against

Not a senior officer.

450,253

Golf & Co Group Ltd.

GOLF

M5215V107

6-Apr-14

Special

Confirmed

450,253

A2c

Management

None

For

15,637

Hadera Paper Ltd.

HAP

M52514102

30-Apr-14

Annual/Special

Confirmed

15,637

Discuss Financial Statements and the Report of the Board for 2013

Management

15,637

Hadera Paper Ltd.

HAP

M52514102

30-Apr-14

Annual/Special

Confirmed

15,637

2.1

Reelect Johanan Locker, Chairman, as Director Until the End of the Next Annual General Meeting

Management

For

15,637

Hadera Paper Ltd.

HAP

M52514102

30-Apr-14

Annual/Special

Confirmed

15,637

2.2

Reelect Arie Gottlieb as Director Until the End of the Next Annual General Meeting

Management

For

15,637

Hadera Paper Ltd.

HAP

M52514102

30-Apr-14

Annual/Special

Confirmed

15,637

2.3

Reelect Dan Vardi as Director Until the End of the Next Annual General Meeting

Management

For

15,637

Hadera Paper Ltd.

HAP

M52514102

30-Apr-14

Annual/Special

Confirmed

15,637

2.4

Reelect Amos Mar-Haim as Director Until the End of the Next Annual General Meeting

Management

For

Against

While we recognise his value as the longest serving member of the Board (30 years), his presence as a non-independent on the audit committee is not ideal, especially within a Board that already fails on independence levels. We voted similarly last year and engaged with the company so they are well aware of our concerns.

15,637

Hadera Paper Ltd.

HAP

M52514102

30-Apr-14

Annual/Special

Confirmed

15,637

2.5

Reelect Sigalia Heifetz as Director Until the End of the Next Annual General Meeting

Management

For

15,637

Hadera Paper Ltd.

HAP

M52514102

30-Apr-14

Annual/Special

Confirmed

15,637

2.6

Reelect Dan Kleinbereger as Director Until the End of the Next Annual General Meeting

Management

For

15,637

Hadera Paper Ltd.

HAP

M52514102

30-Apr-14

Annual/Special

Confirmed

15,637

Reappoint Brightman Almagor Zohar & Co. as Auditors and Authorize Board to Fix Their Remuneration

Management

For

15,637

Hadera Paper Ltd.

HAP

M52514102

30-Apr-14

Annual/Special

Confirmed

15,637

Approve Amendments to the Company’s Compensation Policy for the Directors and Officers of the Company

Management

For

15,637

Hadera Paper Ltd.

HAP

M52514102

30-Apr-14

Annual/Special

Confirmed

15,637

Approve Service Agreement with Clal Industries Ltd., Controlling Shareholder

Management

For

Against

This is estimated to amount to USD 260k annually, up from average director payments of USD 30k in 2013. Clearly this service agreement is intended to remunerate Clal for its input rather than just the Chairman for his services, and as such we should not support the structure which feels like more of a back-door dividend.

15,637

Hadera Paper Ltd.

HAP

M52514102

30-Apr-14

Annual/Special

Confirmed

15,637

Approve Options Grant to Johanan Locker, Chairman

Management

For

15,637

Hadera Paper Ltd.

HAP

M52514102

30-Apr-14

Annual/Special

Confirmed

15,637

Approve Options Grant to Ofer Bloch, CEO

Management

For

1,955

Israel Corporation (The)

ILCO

M8785N109

1-May-14

Special

Confirmed

1,955

Approve Compensation Policy for the Directors and Officers of the Company

Management

For

1,955

Israel Corporation (The)

ILCO

M8785N109

1-May-14

Special

Confirmed

1,955

Management

None

Against

Not a controlling shareholder.

1,955

Israel Corporation (The)

ILCO

M8785N109

1-May-14

Special

Confirmed

1,955

If you are an Interest Holder as defined in Section 1 of the Securities Law, 1968, vote FOR. Otherwise, vote against.

Management

None

Against

Not an interest holder.

1,955

Israel Corporation (The)

ILCO

M8785N109

1-May-14

Special

Confirmed

1,955

If you are a Senior Officer as defined in Section 37(D) of the Securities Law, 1968, vote FOR. Otherwise, vote against.

Management

None

Against

Not a senior officer.

1,955

Israel Corporation (The)

ILCO

M8785N109

1-May-14

Special

Confirmed

1,955

Management

None

For

580,500

Israel Chemicals Ltd.

ICL

M5920A109

8-May-14

Special

Confirmed

580,500

Approve Registration Rights Agreement with The Israel Corporation Ltd., Controlling Shareholder, and Its Affiliated Companies

Management

For

580,500

Israel Chemicals Ltd.

ICL

M5920A109

8-May-14

Special

Confirmed

580,500

Approve the Switch From the Reporting Format In Accordance with Chapter VI of the Securities Law of 1968 to the Reporting Format In Accordance with Chapter III of the Securities Law of 1968

Management

For

580,500

Israel Chemicals Ltd.

ICL

M5920A109

8-May-14

Special

Confirmed

580,500

Approve Purchase of D&O Policy

Management

For

580,500

Israel Chemicals Ltd.

ICL

M5920A109

8-May-14

Special

Confirmed

580,500

Management

None

Against

We are not part of the controlling group.

580,500

Israel Chemicals Ltd.

ICL

M5920A109

8-May-14

Special

Confirmed

580,500

If you are an Interest Holder as defined in Section 1 of the Securities Law, 1968, vote FOR. Otherwise, vote against.

Management

None

Against

Not an interested holder.

580,500

Israel Chemicals Ltd.

ICL

M5920A109

8-May-14

Special

Confirmed

580,500

If you are a Senior Officer as defined in Section 37(D) of the Securities Law, 1968, vote FOR. Otherwise, vote against.

Management

None

Against

Not a senior officer.

580,500

Israel Chemicals Ltd.

ICL

M5920A109

8-May-14

Special

Confirmed

580,500

Management

None

For

71,000

Nice Systems Ltd.

NICE

M7494X101

27-May-14

Annual

Confirmed

71,000

1.1

Reelect David Kostman, Chairman, as Director Until the End of the Next Annual General Meeting

Management

For

71,000

Nice Systems Ltd.

NICE

M7494X101

27-May-14

Annual

Confirmed

71,000

1.2

Reelect Joseph Atsmon, Vice-Chairman, as Director Until the End of the Next Annual General Meeting

Management

For

71,000

Nice Systems Ltd.

NICE

M7494X101

27-May-14

Annual

Confirmed

71,000

1.3

Reelect Rimon Ben-Shaoul as Director Until the End of the Next Annual General Meeting

Management

For

71,000

Nice Systems Ltd.

NICE

M7494X101

27-May-14

Annual

Confirmed

71,000

1.4

Reelect Yehoshua (Shuki) Ehrlich as Director Until the End of the Next Annual General Meeting

Management

For

71,000

Nice Systems Ltd.

NICE

M7494X101

27-May-14

Annual

Confirmed

71,000

1.5

Reelect Leo Apotheker as Director Until the End of the Next Annual General Meeting

Management

For

71,000

Nice Systems Ltd.

NICE

M7494X101

27-May-14

Annual

Confirmed

71,000

1.6

Reelect Joseph (Joe) Cowan as Director Until the End of the Next Annual General Meeting

Management

For

71,000

Nice Systems Ltd.

NICE

M7494X101

27-May-14

Annual

Confirmed

71,000

Grant Options to Non-Executive Directors

Management

For

Against

While dilution is not an issue, we believe that granting options to non-execs presents a conflict of interest and is a practice we vote against across the board.

71,000

Nice Systems Ltd.

NICE

M7494X101

27-May-14

Annual

Confirmed

71,000

Approve Employment Terms of Barak Eilam, CEO

Management

For

Abstain

A material increase in operating profit for FY13. Note max bonus payout has been upped to 180 percent from 150 percent, while no free option payment was made last year.

71,000

Nice Systems Ltd.

NICE

M7494X101

27-May-14

Annual

Confirmed

71,000

Reappoint Kost Forer Gabay & Kasierer as Auditors and Authorize Board to Fix Their Remuneration

Management

For

71,000

Nice Systems Ltd.

NICE

M7494X101

27-May-14

Annual

Confirmed

71,000

Discuss Financial Statements and the Report of the Board for 2012

Management

71,000

Nice Systems Ltd.

NICE

M7494X101

27-May-14

Annual

Confirmed

71,000

Vote FOR if you have a personal interest in one or several resolutions, as indicated in the proxy card; otherwise, vote AGAINST. You may not abstain. If you vote FOR, please provide an explanation to your account manager

Management

None

Against

No personal interest.

134,353

Check Point Software Technologies Ltd.

CHKP

M22465104

28-May-14

Annual

Confirmed

134,353

Reelect Directors Until the End of the Next Annual General Meeting

Management

For

Against

Bundled item.

134,353

Check Point Software Technologies Ltd.

CHKP

M22465104

28-May-14

Annual

Confirmed

134,353

Reelect External Directors for an Additional Three Year Term

Management

For

Against

Bundled item.

134,353

Check Point Software Technologies Ltd.

CHKP

M22465104

28-May-14

Annual

Confirmed

134,353

Ratify the Appointment of Kost, Forer, Gabbay & Kasierer, a member of Ernst & Young Global, as Auditors and Authorize Board to Fix Their Remuneration ; Discuss Consolidated Financial Statements for 2013

Management

For

134,353

Check Point Software Technologies Ltd.

CHKP

M22465104

28-May-14

Annual

Confirmed

134,353

Approve Employment Terms of CEO, Who Is Also the Chairman

Management

For

134,353

Check Point Software Technologies Ltd.

CHKP

M22465104

28-May-14

Annual

Confirmed

134,353

Management

None

Against

Not a controlling shareholder.

310,900

Mizrahi Tefahot Bank Ltd.

MZTF

M9540S110

10-Jun-14

Special

Confirmed

310,900

Approve Updated Compensation Policy for the Directors and Officers of the Company

Management

For

310,900

Mizrahi Tefahot Bank Ltd.

MZTF

M9540S110

10-Jun-14

Special

Confirmed

310,900

Approve CEO’s Employment Terms

Management

For

310,900

Mizrahi Tefahot Bank Ltd.

MZTF

M9540S110

10-Jun-14

Special

Confirmed

310,900

Approve Discretionary Bonus Component for Moshe Vidman, Chairman

Management

For

310,900

Mizrahi Tefahot Bank Ltd.

MZTF

M9540S110

10-Jun-14

Special

Confirmed

310,900

Management

None

Against

No personal interest, nor a controlling shareholder.

310,900

Mizrahi Tefahot Bank Ltd.

MZTF

M9540S110

10-Jun-14

Special

Confirmed

310,900

If you are an Interest Holder as defined in Section 1 of the Securities Law, 1968, vote FOR. Otherwise, vote against.

Management

None

Against

Not an interest holder.

310,900

Mizrahi Tefahot Bank Ltd.

MZTF

M9540S110

10-Jun-14

Special

Confirmed

310,900

If you are a Senior Officer as defined in Section 37(D) of the Securities Law, 1968, vote FOR. Otherwise, vote against.

Management

None

Against

Not a senior official.

310,900

Mizrahi Tefahot Bank Ltd.

MZTF

M9540S110

10-Jun-14

Special

Confirmed

310,900

Management

None

For

47,735

Elbit Systems Ltd.

ESLT

M3760D101

25-Jun-14

Annual

Confirmed

47,735

1.1

Reelect Avraham Asheri as Director Until the End of the Next Annual General Meeting

Management

For

47,735

Elbit Systems Ltd.

ESLT

M3760D101

25-Jun-14

Annual

Confirmed

47,735

1.2

Reelect Rina Baum as Director Until the End of the Next Annual General Meeting

Management

For

47,735

Elbit Systems Ltd.

ESLT

M3760D101

25-Jun-14

Annual

Confirmed

47,735

1.3

Elect Yoram Ben-Zeev as Director Until the End of the Next Annual General Meeting

Management

For

47,735

Elbit Systems Ltd.

ESLT

M3760D101

25-Jun-14

Annual

Confirmed

47,735

1.4

Reelect David Federmann as Director Until the End of the Next Annual General Meeting

Management

For

47,735

Elbit Systems Ltd.

ESLT

M3760D101

25-Jun-14

Annual

Confirmed

47,735

1.5

Reelect Michael Federmann as Director Until the End of the Next Annual General Meeting

Management

For

47,735

Elbit Systems Ltd.

ESLT

M3760D101

25-Jun-14

Annual

Confirmed

47,735

1.6

Reelect Yigal Ne’eman as Director Until the End of the Next Annual General Meeting

Management

For

47,735

Elbit Systems Ltd.

ESLT

M3760D101

25-Jun-14

Annual

Confirmed

47,735

1.7

Reelect Dov Ninveh as Director Until the End of the Next Annual General Meeting

Management

For

47,735

Elbit Systems Ltd.

ESLT

M3760D101

25-Jun-14

Annual

Confirmed

47,735

Reappoint Reelect Kost, Forer, Gabbay & Kasierer as Auditors

Management

For

47,735

Elbit Systems Ltd.

ESLT

M3760D101

25-Jun-14

Annual

Confirmed

47,735

Discuss Financial Statements and the Report of the Board for 2013

Management

43,000

Fox-Wizel Ltd.

FOX

M4661N107

25-Jun-14

Special

Confirmed

43,000

Approve Cash Award to Elad Vered, Procurement VP, and Relative of Controlling Shareholder

Management

For

43,000

Fox-Wizel Ltd.

FOX

M4661N107

25-Jun-14

Special

Confirmed

43,000

Reelect Alon Cohen as External Director for a Three Year Term

Management

For

43,000

Fox-Wizel Ltd.

FOX

M4661N107

25-Jun-14

Special

Confirmed

43,000

Management

None

For

43,000

Fox-Wizel Ltd.

FOX

M4661N107

25-Jun-14

Special

Confirmed

43,000

If you are an Interest Holder as defined in Section 1 of the Securities Law, 1968, vote FOR. Otherwise, vote against.

Management

None

Against

Not an interest holder.

43,000

Fox-Wizel Ltd.

FOX

M4661N107

25-Jun-14

Special

Confirmed

43,000

If you are a Senior Officer as defined in Section 37(D) of the Securities Law, 1968, vote FOR. Otherwise, vote against.

Management

None

Against

Not a senior officer.

43,000

Fox-Wizel Ltd.

FOX

M4661N107

25-Jun-14

Special

Confirmed

43,000

Management

None

For

1,955

Israel Corporation (The)

ILCO

M8785N109

27-Jun-14

Special

Confirmed

1,955

Approve Company’s Part in the Settlement between ZIM Integrated Shipping Services, Subsidiary, and its Creditors and Minority Shareholders

Management

For

1,955

Israel Corporation (The)

ILCO

M8785N109

27-Jun-14

Special

Confirmed

1,955

Management

None

Against

Not a controlling shareholder and no personal interest.

1,955

Israel Corporation (The)

ILCO

M8785N109

27-Jun-14

Special

Confirmed

1,955

If you are an Interest Holder as defined in Section 1 of the Securities Law, 1968, vote FOR. Otherwise, vote against.

Management

None

Against

Not an interest holder.

1,955

Israel Corporation (The)

ILCO

M8785N109

27-Jun-14

Special

Confirmed

1,955

If you are a Senior Officer as defined in Section 37(D) of the Securities Law, 1968, vote FOR. Otherwise, vote against.

Management

None

Against

Not a senior officer.

1,955

Israel Corporation (The)

ILCO

M8785N109

27-Jun-14

Special

Confirmed

1,955

Management

None

For

164,000

First International Bank of Israel Ltd.

FTIN

M1648G114

29-Jun-14

Special

Confirmed

164,000

Approve Purchase of D&O Liability Insurance Policies

Management

For

164,000

First International Bank of Israel Ltd.

FTIN

M1648G114

29-Jun-14

Special

Confirmed

164,000

Management

None

Against

No controlling/personal interest.

SIGNATURES

Pursuant to the requirements of the Investment Company Act of 1940, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

Registrant: Aberdeen Israel Fund, Inc.

By (Signature and Title):	/s/Christian Pittard
	Christian Pittard
	President

Date: August 26, 2014

Aberdeen Israel Fund (ISL) Inactive N-PXAnnual report of proxy voting record