Whereas:         The Board of Governors, following the recommendations of the Budget and Finance Committee and the Executive approved in October 2012 a multi-year commitment of US $300,000, per annum, for JAFI's participation in the annual budget of Ben Yakir Youth Village for the period of school years 5773-5775 (Sep. 2012-Aug. 2015) simultaneously with identical commitment of the strategic partner, Benny Levine; and

Whereas:         The strategic partner, Benny Levine, has requested to postpone its commitment to participate in the annual budget of the Village to the next school year, namely 5774, until the school year 5776 (Sep. 2013-Aug. 2016); and

Whereas:         JAFI and Benny Levine ("The Partners") have reached an agreement for the operation and management of the Village under a new non-profit company fully owned by JAFI; and

Whereas:         According to the draft agreement Benny Levine commits, inter alia, to participate in the annual current budget of the Village for the period of school years 5774-5776 (Sep. 2013-Aug. 2016); and

Whereas:         Signing of the agreement is subject to an amended resolution for the multi-year commitment by JAFI;

Therefore be it resolved that:

1.     Subject of the signing of the agreement between the Partners, and subject to Mr. Benny Levin's commitment to participate in the annual current budget of Ben Yakir Youth Village for the period of school years 5774-5776 (Sep. 2013-Aug. 2016) in the amount of US $ 300,000, a multi-year commitment of US $ 300,000, per annum, is approved for the period of school years 5774-5776 (Sep. 2013-Aug. 2016).

2.     The Finance Unit is authorized to incur, on a multi-year basis, financial and other obligations for implementation of the undertakings of JAFI as described hereinabove.