162,000 shekels, excluding bonuses: The new contract of the Prashkovsky brothers

The public real estate company Prashkovsky is expected to soon extend the tenure of Yossi and Sharon Prashkovsky, who are among the company's controlling shareholders. Yossi serves as Chairman of the Board and Sharon is the CEO. Their tenure extension will be for three additional years.

According to the agreement, their employment terms will be identical: the monthly gross salary of each will stand at 162,000 shekels, linked to the Consumer Price Index of July 2026. This amount reflects an update to the existing salary of 150,000 shekels, linked to the July 2023 index. The salary will be updated every three months solely in accordance with the index increase.

In an annual calculation, the gross base salary of each will stand at approximately 1.944 million shekels. In addition to the base salary, each is entitled to a fixed supplement of 8,000 shekels net per month (about 96,000 shekels net per year) for business and car expense reimbursement, alongside full social contributions, the provision of a mobile device, and an update of the annual vacation quota to 36 days.

Alongside the fixed salary components, the package includes an annual bonus mechanism based on the company's total annual profit before tax (excluding unrealized real estate revaluation gains, except for rental housing). The bonus will be paid only if the annual profit exceeds the "profit floor" of 65 million shekels. In the profit range between 65 and 110 million shekels, a bonus of 2% of the excess portion will be paid, and above a profit of 110 million shekels, an additional bonus of 3% of the remainder will be added.

A rigid bonus cap was set, so that in any case, the annual bonus for each of the managers will not exceed 1.5 million shekels per year. Bottom line, the maximum annual cost of the cash components can reach up to approximately 3.444 million shekels per year for each of the controlling shareholders, excluding accompanying benefits.

Another person whose tenure the Board of Directors is expected to extend is the Chairman of the Board of Azorim, Hershy Friedman. According to the terms approved for Friedman, he will serve in the position at a 90% job scope. The cost of his employment stands at 200,000 shekels per month, via invoice, but he can reach bonuses of 1.75 million shekels per year. In addition, he was promised an adaptation bonus equal to the fixed monthly remuneration of six months' salary. The company will also bear the costs for car and telephone expenses in the amount of 10,000 shekels per month.