Corporate Presentation

Introduction to the

Exchange Offer

November 4, 2010

Exhibit (a)(1)(D)

Corporate Presentation

2

Table of Contents

The Exchange Offer

Summary of Terms

Next Steps

Further Information

Important Notice

Agenda:

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The Exchange Offer

Orbotech is offering (the “Exchange Offer”) to certain employees

the right to exchange certain of their outstanding options for new

options to purchase a lesser number of shares on the terms and

conditions set forth in, and pursuant to, the formal ‘Offer to

Exchange’

document, dated November 4, 2010, and other

materials in the Tender Offer Statement on Schedule TO filed by

the Company with the United States Securities and Exchange

Commission (collectively, the “Tender Offer Documents”), which

can

be

accessed

at

www.sec.gov.

The Exchange Offer commenced on November 4, 2010, and will

expire at 4:00 p.m., Israel Time, on Wednesday, December 15,

2010

(or such later date as may apply if the Exchange Offer is

extended).  The Company will not accept delivery in any

manner of any Notice of Election or Notice of Withdrawal after

expiration of the Exchange Offer.

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Summary of Terms

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Only employees who are residents of Israel, the United States,

Germany, Hong Kong, Japan, Korea or Taiwan may participate. 

The Company’s directors and its senior management and corporate

officers, as well as certain additional members of management, are

ineligible to participate in the Exchange Offer.

Options are eligible for exchange if they were:

(i) granted in the years 2005, 2006 or 2007; and

(ii) have exercise prices greater than $20 per share. 

Options eligible for exchange are referred to as “Eligible Options”. 

Options received pursuant to the Exchange Offer are referred to as

“New Options”.

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Summary of Terms

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The Exchange Offer is being made on the basis of a fixed exchange

ratio, which is determined in accordance with the year in which the

Eligible Option was granted. 

The exchange ratio for:

(i) Eligible Options granted in 2005 is 5-to-1;

(ii) Eligible Options granted in 2006 is 3-to-1; and

(iii) Eligible Options granted in 2007 is 2-to-1

rounded down (if necessary) to the nearest whole number to avoid

the issuance of fractional shares.

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Summary of Terms

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New Options will be granted under the Company’s Equity

Remuneration Plan for Key Employees of Orbotech Ltd. and its

Affiliates and Subsidiaries (as Amended and Restated, 2005) (the

“2000 Plan”) on the first trading day after the Exchange Offer expires

in accordance with its terms, with an exercise price equal to the

average between the high and low sale prices of the Company’s

shares,

as

reported

on

the

Nasdaq

on

that

day.

New Options will vest over a two-year period, with half of the shares

(rounded up, if necessary, to the nearest whole number) vesting one

year after the grant date and the balance vesting two years after the

grant date, subject to the terms of the 2000 Plan.

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Summary of Terms

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New Options (except for those issued in exchange for Eligible

Options granted in 2005) will have a term equal to the remaining

term of the Eligible Options for which they are exchanged.

New Options issued in exchange for Eligible Options granted in 2005

will expire on February 28, 2013.

Israeli employees will, as part of the election process, be required to

acknowledge that their New Options will be subject to Section 102 of

the Israeli Income Tax Ordinance and to agree to the terms and

conditions of the Pre-Ruling issued by the Israel Tax Authority.

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Next Steps

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Read the Tender Offer Documents carefully.

Consult with your own legal, financial or tax advisors, as

necessary, regarding any questions concerning personal tax

implications or otherwise.

Arrange to meet or speak with the Orbotech Corporate Secretary,

if desired, by telephone at +972-8-9423622, via e-mail at

michael.havin@orbotech.com

or

in

person.

The Company recommends that

you take the following steps as

soon as possible:

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Next Steps

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Evaluate the Exchange Offer and consider

carefully whether or not you wish to participate. 

Please note that although the Company’s Board of Directors has

approved the Exchange Offer, neither Orbotech nor the Board of

Directors is making any recommendation as to whether or not you

should participate in the Exchange Offer. 

There is no guarantee that you will ultimately receive greater value

from the New Options if you elect to participate in the Exchange

Offer than from your Eligible Options if you do not elect to participate. 

As a result, you must make your own decision regarding your

participation in the Exchange Offer.

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Next Steps

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If you do not wish to participate, you need do

nothing further.

If you wish to participate, complete, sign and deliver to the

Corporate Secretary the Notice of Election in the manner provided

in the Tender Offer Documents.

All of these steps are explained in greater detail in the Tender

Offer

Documents,

which

can

be

accessed

at

www.sec.gov

and

which you should read in their entirety.

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Further Information

Copies of the Tender Offer Documents are available

online at www.sec.gov

or may be obtained from the

Corporate Secretary of the Company, Michael Havin,

by contacting him

on telephone +972-8-9423622

or

via e-mail at michael.havin@orbotech.com.

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Important Notice

This document does not constitute the Offer to Exchange. 

You should read the Tender Offer Statement on Schedule TO

and exhibits, including the Offer to Exchange, dated

November 4, 2010, that Orbotech Ltd. has filed with the United

States Securities and Exchange Commission (the “SEC”)

because they contain important information about the option

exchange program.  You can access these documents at the

SEC’s website at www.sec.gov.  Neither Orbotech Ltd. nor our

Board of Directors is making any recommendation as to

whether or not you should participate in the option exchange

program.  You must make your own decision as to whether or

not to participate; and the Company strongly recommends that

you consult with your own legal, financial and tax advisors in

relation to any questions concerning the Exchange Offer

including any personal tax implications or otherwise.