JERUSALEM (JTA) — Former Israeli President Shimon Peres will consult for Teva Pharmaceutical Industries for $10,000 a month.
He will also receive additional compensation for specific Teva projects, according to the Israeli business daily Globes.
The announcement comes days after Peres, 91, announced that he would cancel a deal to promote Bank Hapoalim worth $30,000 a month.
The money that Teva pays to Peres will be donated to the Peres Center for Peace, as well as other charitable causes in which he is involved, according to reports.
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