Leumi pays CEO NIS 3.25 million not to work for another bank

Bank Leumi's board of directors has decided to extend outgoing CEO Galia Maor's cooling-off period from six months to two years, according to a statement released by the bank.

"In return for her agreement to extend the cooling-off and non-competitiveness period, the outgoing CEO will receive a one-time compensation of NIS 3.25 million (roughly $850,000)," the statement read. The agreement means Maor cannot seek employment with an Israeli bank corporation for two years. (Ynet)