4.	RESTRICTED CASH AND TIME DEPOSITS

Restricted cash and time deposits consist of the following:

	As of June 30, 2013		As of December 31, 2012
Time deposits	$	977	$	1,006
Short-term security deposits under client contracts		60		660
Long-term deposits under employee loan programs		353		360
Long-term deposits under operating leases		-		107
Total	$	1,390	$	2,133

Included in time deposits as of June 30, 2013 and December 31, 2012, was a deposit of $977 and $1,006, respectively, which earned an interest rate of 2.95%. The deposit matures on September 27, 2013. The Company doesn't intend to withdraw the deposit prior to its maturity.

At June 30, 2013 and December 31, 2012, short-term security deposits under client contracts included fixed amounts placed in respect of bank guarantees intended to secure appropriate performance under respective contracts. The Company estimates the probability of non-performance under the contracts as remote, therefore, no provision for losses has been created in respect of these amounts as of these dates.

Also included in restricted cash as of June 30, 2013 and December 31, 2012, were deposits of $353 and $360, respectively, placed in connection with certain employee loan programs (See Note 10).