Exhibit 5.1

 

Yigal Arnon (1929-2014) Dror Vigdor Amalia Meshi Amnon Lorch Hagai Shmueli Barry Levenfeld David H. Schapiro Hagit Bavly Orna Sasson Barak Tal Shiri Shaham Doron Tamir Daniel Abarbanel David Osborne Gil Oren Ronit Amir Yaniv Orly Tsioni Mordehai Baicz Barak Platt Benjamin Horef Yoran Gill Asaf Eylon Daniel Marcovici Adrian Daniels Yuval Shalheveth Jacob Ben Chitrit Peter Sugarman Ben Sandler Boaz Fiel Joeri Kreisberg Simon Weintraub Ruth Loven Yarom Romem Adam Spruch Yuval Bargil Eliran Furman Eran Lempert Ofir Levy
Daniel Green Hanital Belinson Yoheved Novogroder
Oren Roth
Dror Varsano Odelia Sidi Shira Lahat Micki Shapira Eran Zach Ido Chitman Aner Hefetz David Akrish Nir Rosner Assaf Mesica Liron Hacohen Guy Fuhrer Ezra Gross David Roness Eli Greenbaum Lee Maor
Nimrod Vromen Guy Sagiv Shani Rapoport Lior Gelbard Keren Tal Naftali Nir Yael Hoefler Sagi Schiff Netanella Treistman Daniel Damboritz Yulia Lazbin Joshua Lieberman Eyal Aichel Roy Masuri
Avi Anouchi Sivan Gilron Dotan Tomer Bar-Nathan Edan Regev Michal Sagmon Hila Rot
Neta Goshen Chen Lanir Daphna Livneh Tamar Gilboa
Adi Samuel Alona Toledano
Elad Offek Yuval Shamir Lihi Katzenelson
Inbar Hakimian-Nahari Shahar Uziely Yehudit Biton Gitit Ramot-Adler
Omri Schnaider Rinat Michael Adi Attar Daniella Milner Amos Oseasohn Guy Kortany Ofir Paz Goor Koren
Adi Daniel Dafna Shaham Miriam Friedmann Roni Osborne Ortal Zanzuri Roey Sasson Shir Eshkol Nir Rodnizky Noam Shochat Noa Slavin
Michael Horowitz Guy Fatal
Shani Lorch Itamar Cohen
Shai Margalit Yonatan Whitefield Moshe Lankry
Nir Kamhi Shira Teger Rachel Lerman Ravid Saar Sophie Blackston Elad Morgenstern
Ron Ashkenazi Sara Haber Carmel Nudler Shmuel Brill Yehonatan Cohen David Shmulevitz Tair Cherbakovsky Ophir Dagan Guy Ziv-Shalom Liad Kalderon Nataly Damary Shiran Glitman Dani Weissberg Lareine Khoury Nohar Hadar Shirley Youseri Nitzan Kahana
Tali Har-Oz Tal Alon Ohad  Sarusi Mor Ido Nechemia Englman Tomer Tako
Natalie Korenfeld Moshe Pasker Mazi Ohayon Nitzan Fisher-Conforti Victoria Savu Derora Tropp Hila Amiel Chaim Cohen Michal Mor Daniel Siso Maytal Spivak Avraham Schoen Elan Loshinsky Ariel Even Noah Zivan Josh Hauser Eitan Cohen Itai Guttel Dror Kanarik Sarig Royi Heilig Maor Alev Tamar Drori Vered Glaubach Yair Taitelbaum Gabi Priel Regina Pevzner
Sophy Litvin Igal Lavi Maor Layani Areen Nashef Tal Slabbaert David Chesterman Ido Zahavi Guy Yarom Ben Nachshon Danielle Berkowicz Inbar Rosenthal Hadar Stein Dan Shimon Matan Zigel Avital Salzman Aharon Topper Rotem Cohen Idan Adar Shahar Iluz Itay Ashkenazi Roei Brizel Ido Sella Evyatar Latz Hadil Nassif Maayan Malka Rublin Ran Aziel Dima Trostianesky Gidon Weinstock Of Counsel Roy Keidar Of Counsel Tamar Tavory Of Counsel Paul H. Baris (1934-2010) Rami Kook Nira Kuritzky Eran Ilan

Tel Aviv | October 29, 2020

Silicom Ltd.

14 Atir Yeda Street,

Kfar Sava 4464323, Israel

Re: Registration Statement on Form S-8

Dear Sirs:

We have acted as Israeli counsel for Silicom Ltd., a company organized under the laws of the State of Israel (the “Company”), in connection with the registration statement on Form S-8 (the “Registration Statement”) filed with the Securities and Exchange Commission under the Securities Act of 1933 (the “Securities Act”) for the purpose of registering an additional 600,000 ordinary shares of the Company, par value NIS 0.01 per share (the “Ordinary Shares”), that may be issued pursuant to equity-based awards granted under the Company’s Global Share Incentive Plan (2013) (hereinafter, the “Plan”). The Ordinary Shares referred to above are referred to herein as the “Award Shares.”

In rendering an opinion on the matters hereinafter set forth, we have assumed the authenticity of all original documents submitted to us as certified, conformed or photographic copies thereof, the genuineness of all signatures and the due authenticity of all persons executing such documents. We have assumed the same to have been properly given and to be accurate, we have assumed the truth of all facts communicated to us by the Company, and we have also assumed that all consents, minutes and protocols of meetings of the Company’s board of directors and shareholders meetings of the Company which have been provided to us are true, accurate and have been properly prepared in accordance with the Company’s incorporation documents and all applicable laws. In addition, we have assumed that in connection with the issuance of Ordinary Shares under the Plan, the Company will either (i) receive consideration in an amount not less than the aggregate par value of the Award Shares covered by each such issuance, or (ii) otherwise act as required pursuant to the Israeli Companies Law 5799-1999 to record on the Company’s balance sheet under shareholder’s equity, the aggregate par value of the Award Shares covered by each such issuance.

On the basis of such investigation as we have deemed necessary, and subject to the assumptions set forth above, we are of the opinion that the Award Shares have been duly and validly authorized for issuance and, when issued upon due exercise in accordance with the applicable award agreement and governing Plan, will be legally issued, fully paid and non-assessable.

We hereby consent to the filing of this opinion as an Exhibit to the Registration Statement. In giving this consent, we do not thereby admit that we come within the category of persons whose consent is required under Section 7 of the Securities Act of 1933, or the Rules and Regulations of the Securities and Exchange Commission thereunder.

The above opinion is based on facts existing on the date hereof and of which we are aware. We express no opinion as to any laws other than the laws of the State of Israel as the same are in force on the date hereof and we have not, for purpose of giving this opinion, made any investigation of the laws of any other jurisdiction. This opinion is limited to the matters stated herein and no opinion is implied or may be inferred beyond the matters expressly stated.

This opinion letter is rendered as of the date hereof and we disclaim any obligation to advise you of facts, circumstances, events or developments that may be brought to our attention after the effective date of the Registration Statement that may alter, affect or modify the opinions expressed herein.

Very truly yours,

/s/ Yigal Arnon & Co.

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Yigal Arnon & Co.

     1 Azrieli Center, Tel Aviv, 6702101 | Phone: +972-3-6087777  | Fax: +972-3-6087724

     31 Hillel Street, Jerusalem, 9458131 | Phone: +972-2-6239239  | Fax: +972-2-6239233

     www.arnon.co.il | info@arnon.co.il

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