Dear Prof. Lamm:

This letter will confirm to you financial arrangements during your term as President of the University, pursuant to your election to that post by the Board of Trustees of the University, effective [redacted] for a period of five years.

1. You shall receive a salary of IL 4000 per month, payable in monthly installments in accordance with normal University practice, which amount shall be subject to the incremental adjustments on a pro rata basis as granted to the highest ranking full-time academic or administrative employees of the University.
2. You shall receive coverage for yourself and your family under such fringe benefits, health plan coverage or other benefits normally given by the University to full-time academic or administrative employees at the highest grade.
3. The University shall make available to you at a nominal rent not to exceed IL 500 per month, a suitable residence for your personal use and for such entertainment or other functions as President as may be required, fully equipped with appropriate furnishings and appliances. The University shall provide for the maintenance and repair of the residence and its equipment at no cost to you. Such expenditures as you may incur in connection with official entertainment functions at your residence shall be reimbursed upon appropriate vouchers in accordance with the regular practice at the University.

The residence to be made available would, if purchased by the University, be subject to your right to acquire the residence at any time, whether before or after termination of your employment, upon payment in full of the amounts paid by the University for the acquisition of the residence and all its furnishings, but without interest or dollar linkage (which right shall, if possible, be reflected in a recorded option instrument), or, if rented by the University, the rental or lease rights would be assigned to you at any time, whether before or after termination of your employment, at your request.

1. The University will furnish to you such other services as are customarily made available to management or education executives in Israel, including but not limited to, telephone service and a suitable car and driver available for the exclusive use of you and your family.
2. The shipment of your household goods from the United States to Israel and all expenses relating thereto shall be an obligation of the University, to the extent not otherwise covered by available Jewish Agency or other grants.
3. On such occasions when you are required to travel outside of Israel for University purposes and it would be appropriate that your wife join you on such trips, the University will cover the travel expenses for her as well as your own.

All of us look forward with eager anticipation to your term in office and the leadership that you will afford to the University.

Very truly yours,

Hon. Zerach Wahrhaftig,

Chairman, Executive Council

Hon. Michael Hazani,

Chairman, Finance Committee

Ludwig Jesselson,

Chairman, Board of Trustees