Quarterly report pursuant to Section 13 or 15(d)

Note 8 - Liability for Employee Rights Upon Retirement

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Note 8 - Liability for Employee Rights Upon Retirement
 9 Months Ended
Sep. 30, 2024
Notes to Financial Statements  
Retirement Benefits [Text Block]

NOTE 8: LIABILITY FOR EMPLOYEE RIGHTS UPON RETIREMENT 

 

Israeli labor law requires payment of severance pay upon dismissal of an employee or upon termination of employment in certain circumstances. Pursuant to Section 14 of the Israeli Severance Pay Law, 1963, all of the Company’s employees are entitled to monthly deposits, at a rate of 8.33% of their monthly salary, made in their name with insurance companies. Payments made in accordance with Section 14 relieve the Company from any future severance payments with respect to those employees. In accordance with the Israeli Severance Pay Law, 1963, severance payments, which are included in salary and employee benefits, were $10 and $35 for the three and nine months ended September 30, 2024, respectively, and $6 and $22 for the three and nine months ended September 30, 2023, respectively.