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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>As filed with the Securities and Exchange
Commission on July 6, 2015</B></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><B>Registration No. 333-[&#9679;]</B>&nbsp;</P>

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<P STYLE="font: 14pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>UNITED STATES</B></P>

<P STYLE="font: 14pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>SECURITIES AND EXCHANGE COMMISSION</B></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Washington, D.C. 20549</B></P>

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<P STYLE="font: 14pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>FORM S-8</B>&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>REGISTRATION STATEMENT UNDER THE SECURITIES
ACT OF 1933</B></P>

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<P STYLE="font: 14pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>ISRAEL CHEMICALS LTD.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">(Exact Name of Registrant as Specified
in its Charter)</P>

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    <TD STYLE="width: 33%; font-size: 10pt; text-align: center; text-indent: 0pt"><FONT STYLE="font-size: 10pt"><B>Israel</B></FONT></TD>
    <TD STYLE="width: 34%; font-size: 10pt; text-align: center; text-indent: 0pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 33%; font-size: 10pt; text-align: center; text-indent: 0pt"><FONT STYLE="font-size: 10pt"><B>Not Applicable</B></FONT></TD></TR>
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    <TD STYLE="font-size: 8pt; text-align: center; text-indent: 0pt"><FONT STYLE="font-size: 10pt">(State or Other Jurisdiction
    of <BR>
    Incorporation or Organization)</FONT></TD>
    <TD STYLE="font-size: 8pt; text-align: center; text-indent: 0pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 8pt; text-align: center; text-indent: 0pt"><FONT STYLE="font-size: 10pt">(I.R.S. Employer <BR>
    Identification No.)</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="font-size: 10pt; text-align: center; text-indent: 0pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: center; text-indent: 0pt"><FONT STYLE="font-size: 10pt"><B>Israel Chemicals Ltd.</B><BR>
    <B>Millennium Tower</B><BR>
    <B>23 Aranha Street</B><BR>
    <B>P.O. Box 20245</B><BR>
    <B>Tel Aviv, 61202, Israel</B></FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: center; text-indent: 0pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="3" STYLE="font-size: 8pt; text-align: center; text-indent: 0pt"><FONT STYLE="font-size: 10pt">(Address, Including
    Zip Code, of Principal Executive Offices)</FONT></TD></TR>
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    <TD COLSPAN="3" STYLE="text-indent: 0pt"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><FONT STYLE="font-size: 10pt"><B>Equity
Compensation Plan (2014)</B></FONT></P>
        <P STYLE="font: 8pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><FONT STYLE="font-size: 10pt">(Full
        Title of the Plan)</FONT></P>
        <P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P></TD></TR>
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    <TD STYLE="width: 100%; font-size: 11pt; text-align: center; text-indent: 0pt"><FONT STYLE="font-size: 10pt"><B>ICL North
    America&nbsp;Inc.</B><BR>
    <B>Attention: General Counsel</B><BR>
    <B>622 Emerson Road, Suite&nbsp;500</B><BR>
    <B>St.&nbsp;Louis, Missouri 63141</B><BR>
    <B>(314)&nbsp;983-7500</B><BR>
    (Name, Address, Including Zip Code, and Telephone Number, Including Area Code, of Agent For Service)</FONT></TD></TR>
</TABLE>

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    <TD COLSPAN="2" STYLE="font-size: 10pt; text-align: center; text-indent: 0pt"><FONT STYLE="font-size: 10pt"><B>Copies to:</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 50%; font-size: 10pt; text-align: center; text-indent: 0pt"><FONT STYLE="font-size: 10pt"><B>Michael P.
    Kaplan</B><BR>
    <B>Davis Polk&nbsp;&amp; Wardwell&nbsp;LLP</B><BR>
    <B>450 Lexington Avenue</B><BR>
    <B>New York, New York 10017</B><BR>
    <B>(212)&nbsp;450-4000</B></FONT></TD>
    <TD STYLE="width: 50%; font-size: 10pt; text-align: center; text-indent: 0pt"><FONT STYLE="font-size: 10pt"><B>Adam M. Klein</B><BR>
    <B>Goldfarb Seligman&nbsp;&amp;&nbsp;Co.</B><BR>
    <B>98 Yigal Alon Street</B><BR>
    <B>Tel Aviv, 6789141 Israel</B><BR>
    <B>(972-3) 608-9999</B></FONT></TD></TR>
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<P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt"><B>Indicate by check mark whether
the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, or a smaller reporting company. See
the definitions of &ldquo;large accelerated filer,&rdquo; &ldquo;accelerated filer&rdquo; and &ldquo;smaller reporting company&rdquo;
in Rule 12b-2 of the Exchange Act. </B></FONT></P>

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<TR STYLE="vertical-align: top">
    <TD STYLE="width: 67%; font-size: 8pt"><FONT STYLE="font-size: 10pt"><B>Large accelerated filer </B>&#9744;</FONT></TD>
    <TD STYLE="width: 33%; font-size: 8pt"><FONT STYLE="font-size: 10pt"><B>Accelerated filer </B>&#9744;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="font-size: 8pt">&nbsp;</TD>
    <TD STYLE="font-size: 8pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="font-size: 8pt"><FONT STYLE="font-size: 10pt"><B>Non-accelerated filer </B>&#9746;<B>&nbsp;(Do not check if a smaller
    reporting company)</B></FONT></TD>
    <TD STYLE="font-size: 8pt"><FONT STYLE="font-size: 10pt"><B>Smaller reporting company </B>&#9744;</FONT></TD></TR>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: bold 8pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-size: 10pt">CALCULATION
OF REGISTRATION FEE</FONT></P>

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<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="width: 44%; border-top: Black 1.5pt double; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding: 4pt; text-align: center; font-size: 8pt; font-weight: bold; text-indent: 0pt"><FONT STYLE="font-size: 10pt">Title
    of Each Class of Securities to Be Registered</FONT></TD>
    <TD STYLE="width: 12%; border-top: Black 1.5pt double; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding: 4pt; text-align: center; font-size: 8pt; font-weight: bold; text-indent: 0pt"><FONT STYLE="font-size: 10pt">Amount
    To Be Registered</FONT></TD>
    <TD STYLE="width: 14%; border-top: Black 1.5pt double; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding: 4pt; text-align: center; font-size: 8pt; font-weight: bold; text-indent: 0pt"><FONT STYLE="font-size: 10pt">Proposed
    Maximum Offering Price Per Share</FONT></TD>
    <TD STYLE="width: 16%; border-top: Black 1.5pt double; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding: 4pt; text-align: center; font-size: 8pt; font-weight: bold; text-indent: 0pt"><FONT STYLE="font-size: 10pt">Proposed
    Maximum Aggregate Offering Price</FONT></TD>
    <TD STYLE="width: 14%; border-top: Black 1.5pt double; border-bottom: Black 1pt solid; padding: 4pt; text-align: center; font-size: 8pt; font-weight: bold; text-indent: 0pt"><FONT STYLE="font-size: 10pt">Amount
    of Registration Fee</FONT></TD></TR>
<TR>
    <TD STYLE="vertical-align: top; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding: 4pt 4pt 4pt 0.25in; font-size: 8pt; text-indent: -0.125in"><FONT STYLE="font-size: 10pt">Ordinary
    Shares, par value NIS 1.00 per share, reserved for issuance pursuant to the Equity Compensation Plan (2014)&#9;</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding: 4pt; font-size: 8pt; text-align: center; text-indent: 0pt"><FONT STYLE="font-size: 10pt">75,970,492
    (1)</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding: 4pt; font-size: 8pt; text-align: center; text-indent: 0pt"><FONT STYLE="font-size: 10pt">$6.86
    (2)</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding: 4pt; font-size: 8pt; text-align: center; text-indent: 0pt"><FONT STYLE="font-size: 10pt">$521,157,575.12(2)</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding: 4pt; font-size: 8pt; text-align: center; text-indent: 0pt"><FONT STYLE="font-size: 10pt">$60,558.51(3)</FONT></TD></TR>
<TR>
    <TD STYLE="vertical-align: top; border-right: Black 1pt solid; border-bottom: Black 1.5pt solid; padding: 4pt 4pt 4pt 0.25in; font-size: 8pt; text-indent: -0.125in"><FONT STYLE="font-size: 10pt">Total</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1.5pt double; padding: 4pt; font-size: 10pt; text-align: center; text-indent: 0pt">75,970,492</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1.5pt double; padding: 4pt; font-size: 8pt; text-align: center; text-indent: 0pt"><FONT STYLE="font-size: 10pt">N/A</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1.5pt double; padding: 4pt; font-size: 8pt; text-align: center; text-indent: 0pt"><FONT STYLE="font-size: 10pt">$521,157,575.12</FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt double; padding: 4pt; font-size: 8pt; text-align: center; text-indent: 0pt"><FONT STYLE="font-size: 10pt">$60,558.51(3)</FONT></TD></TR>
</TABLE>
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<TD STYLE="width: 0; text-indent: 0pt"></TD><TD STYLE="width: 0.25in; text-indent: 0pt"><FONT STYLE="font-size: 10pt">(1)</FONT></TD><TD STYLE="text-indent: 0pt"><FONT STYLE="font-size: 10pt">This
                                         Registration Statement on Form S-8 (this &ldquo;Registration Statement&rdquo;) covers
                                         (i) ordinary shares, par value NIS 1.00 per share (&ldquo;Ordinary Shares&rdquo;), of
                                         Israel Chemicals Ltd. (the &ldquo;Company&rdquo; or the &ldquo;Registrant&rdquo;) issuable
                                         pursuant to the Company&rsquo;s Equity Compensation Plan (2014) (the &ldquo;Plan&rdquo;),
                                         and (ii) pursuant to Rule 416(a) under the Securities Act of 1933, as amended (the &ldquo;Securities
                                         Act&rdquo;), any additional Ordinary Shares that become issuable under the Plan by reason
                                         of any stock dividend, stock split, or other similar transaction.</FONT></TD></TR></TABLE>

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<TD STYLE="width: 0; text-indent: 0pt"></TD><TD STYLE="width: 0.25in; text-indent: 0pt"><FONT STYLE="font-size: 10pt">(2)</FONT></TD><TD STYLE="text-indent: 0pt"><FONT STYLE="font-size: 10pt">Estimated
                                         pursuant to Rule 457(h) under the Securities Act solely for the purpose of computing
                                         the registration fee, based on the average of the high and low prices reported for the
                                         Ordinary Shares on the New York Stock Exchange on June 29, 2015.</FONT></TD></TR></TABLE>

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<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 8pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0; text-indent: 0pt"></TD><TD STYLE="width: 0.25in; text-indent: 0pt"><FONT STYLE="font-size: 10pt">(3)</FONT></TD><TD STYLE="text-indent: 0pt"><FONT STYLE="font-size: 10pt">Rounded
                                         up to the nearest penny.</FONT></TD></TR></TABLE>

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<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">PART I</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in">The information specified in Part I of
Form S-8 is omitted from this filing in accordance with the provisions of Rule 428 under the Securities Act and the introductory
note to Part I of the Form S-8 instructions. The documents containing the information specified in Part I will be delivered to
the participants in the Plan as required by Rule 428(b)(1).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">PART II<BR>
INFORMATION REQUIRED IN THE REGISTRATION STATEMENT</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0">Item 3. Incorporation of Documents by Reference.</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in">The following documents filed by the Company
with the Securities and Exchange Commission (the &ldquo;Commission&rdquo;) under the Securities Act of 1933, as amended (the &ldquo;Securities
Act&rdquo;) or the Securities Exchange Act of 1934, as amended (the &ldquo;Exchange Act&rdquo;) are incorporated herein by reference:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in">(a)&#9;The Company&rsquo;s Annual Report
on Form 20-F for the year ended December 31, 2014 (Registration File No. 001-13742) (the &ldquo;Annual Report&rdquo;), as filed
by the Company on March 20, 2015;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in">(b) The Company&rsquo;s reports of
foreign private issuer on Form 6-K furnished to the Commission on March 23, 2015, April 13, 2015, May 13, 2015
(Immediate Report Regarding a Dividend Distribution), May 13, 2015 (Q1 2015 Results), May 26, 2015, June 8, 2015, June 22, 2015 and
June 29, 2015; and</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in">(c)&#9;The description of the Company&rsquo;s
ordinary shares which is contained in the Company&rsquo;s Exchange Act Registration Statement on Form 8-A dated September 17, 2014
(Registration File No. 001-13742), including any amendments or supplements thereto.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in">In addition, all documents subsequently
filed by the Company with the Commission pursuant to Sections 13(a), 13(c), 14 and 15(d) of the Exchange Act, and all reports (or
portions thereof) on Form 6-K subsequently furnished by the Company to the Commission that are expressly identified in such reports
as being incorporated by reference in to this Registration Statement, prior to the filing of a post-effective amendment to this
Registration Statement which indicates that all securities offered have been sold or which deregisters all securities then remaining
unsold, shall be deemed to be incorporated by reference in this Registration Statement and to be a part hereof from the date of
the filing of such documents.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in">Any statement contained in a document incorporated
or deemed to be incorporated by reference herein shall be deemed to be modified or superseded for purposes of this Registration
Statement to the extent that a statement contained herein (or in any other subsequently filed document which also is incorporated
or deemed to be incorporated by reference herein) modifies or supersedes such statement. Any such statement so modified or superseded
shall not be deemed, except as so modified or superseded, to constitute a part of this Registration Statement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0">Item 4. Description of Securities.</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in">Not applicable.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0">Item 5. Interests of Named Experts and Counsel.</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in">Not applicable.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0">Item 6. Indemnification of Directors and Officers.</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"><I>General</I>. The Company&rsquo;s Articles
of Association set forth the following provisions regarding the grant of insurance coverage, indemnification and an exemption from
liability to any of its directors or officers, all subject to the provisions of applicable law. In accordance with such provisions
and pursuant to the requisite corporate approvals, the Company has obtained liability insurance covering its directors and officers,
has granted indemnification undertakings to its directors and officers and has agreed to exempt its directors and officers from
liability for breach of the duty of care.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"><I>Insurance</I>. The Company is entitled
to insure the liability of any director or officer to the fullest extent </P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">permitted by law. Without derogating from the aforesaid,
the Company may enter into a contract to insure the liability of a director or officer for an obligation imposed on him in consequence
of an act done in his capacity as such, in any of the following cases:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in; text-indent: 0pt"></TD><TD STYLE="width: 0.25in; text-indent: 0pt"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-indent: 0pt">a breach of the duty of care toward the Company or a third party;</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in; text-indent: 0pt"></TD><TD STYLE="width: 0.25in; text-indent: 0pt"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-indent: 0pt">a breach of the duty of loyalty toward the Company, provided that the director or officer acted in good faith and had reasonable
basis to believe that the act would not harm the Company;</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in; text-indent: 0pt"></TD><TD STYLE="width: 0.25in; text-indent: 0pt"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-indent: 0pt">a monetary obligation imposed on him in favor of a third party;</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in; text-indent: 0pt"></TD><TD STYLE="width: 0.25in; text-indent: 0pt"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-indent: 0pt">reasonable litigation expenses, including attorney fees, incurred by the director or officer as a result of an administrative
enforcement proceeding instituted against him; or</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in; text-indent: 0pt"></TD><TD STYLE="width: 0.25in; text-indent: 0pt"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-indent: 0pt">a payment imposed on the director or officer in favor of an injured party as set forth in Section 52(54)(a)(1)(a) of the Israeli
Securities Law, 5728-1968, as amended (the &ldquo;Securities Law&rdquo;).</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in">The Company, with the approval of the Audit
Committee, the Board of Directors and the General Meeting of its Shareholders, granted its officers an exemption and letters of
indemnification, and has also taken out an insurance policy covering directors and officers. The insurance and the compensation
do not apply to those cases specified in Section 263 of the Israeli Companies Law, 1999 (the &ldquo;Companies Law&rdquo;). The
exemption is for damage caused and/or to be caused by such officers, due to a breach of the duty of care to the Company. The amount
of the indemnification payable by the Company under the letter of indemnification, in addition to amounts received from an insurance
company, if any, for all of the officers on a cumulative basis, for one or more of the events detailed therein, was limited to
$300 million. The insurance is renewed annually. On May 8, 2014 the General Meeting of Shareholders approved an increase of the
insurance coverage as determined within the framework resolution approved by the General Meeting of Shareholders in August 2012,
from $300 million to $350 million from the date on which the Company&rsquo;s shares were listed for sale on the United States stock
exchange. The coverage in effect (including a shared tier with the parent company of&nbsp;up to $20 million) stands at an aggregate
amount of $220 million.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"><I>Indemnification</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in">The Company is entitled to indemnify a
director or officer to the fullest extent permitted by law, either retroactively or pursuant to an undertaking given in advance.
Without derogating from the aforesaid, the Company may indemnify its directors or officers for liability or expense imposed on
him in consequence of an action taken by him in his capacity as such, as follows:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in; text-indent: 0pt"></TD><TD STYLE="width: 0.25in; text-indent: 0pt"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-indent: 0pt">a financial liability incurred or imposed on him in favor of another person in accordance with a judgment, including a judgment
given in a settlement or an award of an arbitrator that is approved by a court, provided that any undertaking in advance to indemnify
is limited to events that, in the opinion of the Company&rsquo;s Board of Directors, are foreseeable in light of the Company&rsquo;s
actual activity at the time of granting the undertaking and limited to a sum or criteria determined by the Company&rsquo;s Board
of Directors to be reasonable under the circumstances;</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in; text-indent: 0pt"></TD><TD STYLE="width: 0.25in; text-indent: 0pt"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-indent: 0pt">reasonable litigation expenses, including legal fees, incurred in connection with an investigation or proceeding conducted
against him by an authority authorized to conduct such an investigation or proceeding, and which concluded without an indictment
against him and without a financial sanction in lieu of a criminal proceeding (except for an offense that does not require proof
of criminal intent), or in connection with a financial sanction;</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in; text-indent: 0pt"></TD><TD STYLE="width: 0.25in; text-indent: 0pt"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-indent: 0pt">reasonable litigation expenses, including legal fees, incurred by the director or officer or which he was ordered to pay by
a court, within the framework of proceedings filed against him by or on behalf of the Company, or by a third party, or in a criminal
proceeding in which he was acquitted, or in a criminal proceeding in which he was convicted of an offense which does not require
a criminal intent;</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif"></P>

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<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif"></P>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in; text-indent: 0pt"></TD><TD STYLE="width: 0.25in; text-indent: 0pt"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-indent: 0pt">reasonable litigation expenses, including attorney fees, incurred by the director or officer as a result of an administrative
enforcement proceeding instituted against him; or</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in; text-indent: 0pt"></TD><TD STYLE="width: 0.25in; text-indent: 0pt"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-indent: 0pt">a payment imposed on the director or officer in favor of an injured party as set forth in Section 52(54)(a)(1)(a) of the Securities
Law.</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"><I>Exemption</I>. The Company is entitled
to exempt a director or officer in advance from any or all of his liability for damage in consequence of a breach of the duty of
care toward the Company, except in connection with illegal distributions to shareholders.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"><I>Limitations</I>. The Companies Law provides
that a company may not provide its directors or officers with insurance or indemnification or exempt its directors or officers
from liability with respect to the following:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in; text-indent: 0pt"></TD><TD STYLE="width: 0.25in; text-indent: 0pt"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-indent: 0pt">breach of the duty of loyalty toward the company, unless, with respect to insurance coverage or indemnification, the director
or officer acted in good faith and had a reasonable basis to believe that the act would not harm the company;</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in; text-indent: 0pt"></TD><TD STYLE="width: 0.25in; text-indent: 0pt"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-indent: 0pt">an intentional or reckless breach of the duty of care;</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in; text-indent: 0pt"></TD><TD STYLE="width: 0.25in; text-indent: 0pt"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-indent: 0pt">an act done with the intention of illegally deriving a personal profit; or</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in; text-indent: 0pt"></TD><TD STYLE="width: 0.25in; text-indent: 0pt"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-indent: 0pt">a fine imposed on the director or officer.</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in">Insofar as indemnification for liabilities
arising under the Securities Act may be permitted to the Company&rsquo;s directors, officers or controlling persons pursuant to
the foregoing provisions, the Company has been informed that in the opinion of the Securities and Exchange Commission, such indemnification
is against public policy as expressed in the Securities Act and is therefore unenforceable as a matter of United States law.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0">Item 7. Exemption from Registration Claimed.</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in">Not applicable.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0">Item 8. Exhibits.</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 10%; text-indent: 0pt; padding: 4pt">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; border-bottom: Black 0.5pt solid">Exhibit Number&nbsp;</P></TD>
    <TD STYLE="width: 90%; font-size: 10pt; text-indent: 0pt; padding: 4pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="font-size: 10pt; text-indent: 0pt; padding: 4pt"><FONT STYLE="font-size: 10pt">4.1</FONT></TD>
    <TD STYLE="font-size: 10pt; text-indent: 0pt; padding: 4pt"><FONT STYLE="font-size: 10pt">Memorandum of Association of Israel Chemicals Ltd. (unofficial translation from original Hebrew) (incorporated herein by reference to Exhibit 3.1 to the Company&rsquo;s Registration Statement on Form F-1, filed with the Commission on September 12, 2014 (Registration File No. 333-198711).</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="font-size: 10pt; text-indent: 0pt; padding: 4pt"><FONT STYLE="font-size: 10pt">4.2</FONT></TD>
    <TD STYLE="font-size: 10pt; text-indent: 0pt; padding: 4pt"><FONT STYLE="font-size: 10pt">Articles of Association of Israel Chemicals Ltd. (unofficial translation from original Hebrew) (incorporated herein by reference to Exhibit 3.2 to the Company&rsquo;s Registration Statement on Form F-1, filed with the Commission on September 12, 2014 (Registration File No. 333-198711).</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="font-size: 10pt; text-indent: 0pt; padding: 4pt"><FONT STYLE="font-size: 10pt">4.3</FONT></TD>
    <TD STYLE="font-size: 10pt; text-indent: 0pt; padding: 4pt"><FONT STYLE="font-size: 10pt">Registration Rights Agreement, dated September 12 , 2014 by and among Israel Chemicals Ltd. and Israel Corporation Ltd. (incorporated herein by reference to Exhibit 4.8 to the Company&rsquo;s Annual Report on Form 20-F, filed with the Commission on March 20, 2014 (Registration File No. 001-13742).</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="font-size: 10pt; text-indent: 0pt; padding: 4pt"><FONT STYLE="font-size: 10pt">5.1</FONT></TD>
    <TD STYLE="font-size: 10pt; text-indent: 0pt; padding: 4pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Opinion of Goldfarb Seligman &amp; Co., Israeli counsel of Israel Chemical Ltd., as to the validity of the ordinary shares.</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="font-size: 10pt; text-indent: 0pt; padding: 4pt"><FONT STYLE="font-size: 10pt">23.1</FONT></TD>
    <TD STYLE="font-size: 10pt; text-indent: 0pt; padding: 4pt"><FONT STYLE="font-size: 10pt">Consent of Somekh Chaikin, a member firm of KPMG International, independent registered public accounting firm.</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="font-size: 10pt; text-indent: 0pt; padding: 4pt"><FONT STYLE="font-size: 10pt">23.2</FONT></TD>
    <TD STYLE="font-size: 10pt; text-indent: 0pt; padding: 4pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Consent of Goldfarb Seligman &amp; Co., Israeli counsel of Israel Chemical Ltd. (included in Exhibit 5.1).</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="font-size: 10pt; text-indent: 0pt; padding: 4pt"><FONT STYLE="font-size: 10pt">24.1</FONT></TD>
    <TD STYLE="font-size: 10pt; text-indent: 0pt; padding: 4pt"><FONT STYLE="font-size: 10pt">Powers of attorney (included on signature pages hereto).</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="font-size: 10pt; text-indent: 0pt; padding: 4pt"><FONT STYLE="font-size: 10pt">99.1</FONT></TD>
    <TD STYLE="font-size: 10pt; text-indent: 0pt; padding: 4pt"><FONT STYLE="font-size: 10pt">Equity Compensation Plan (2014) dated August 6, 2014 (unofficial translation from original Hebrew).</FONT></TD></TR>
</TABLE>
<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Arial, Helvetica, Sans-Serif"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
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<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0">Item 9. Undertakings.</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in">(a)&#9;The undersigned Registrant hereby
undertakes:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-indent: 0.25in">(1)&#9;To file, during any period
in which offers or sales are being made, a post-effective amendment to this Registration Statement:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-indent: 0.25in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.75in; text-indent: 0pt"></TD><TD STYLE="width: 0.25in; text-indent: 0pt">(i)</TD><TD STYLE="text-indent: 0pt">To include any prospectus required by Section 10(a)(3) of the Securities Act;</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.75in; text-indent: 0pt"></TD><TD STYLE="width: 0.25in; text-indent: 0pt">(ii)</TD><TD STYLE="text-indent: 0pt">To reflect in the prospectus any facts or events arising after the effective date of this Registration Statement (or the most
recent post-effective amendment thereof) which, individually or in the aggregate, represent a fundamental change in the information
set forth in this Registration Statement. Notwithstanding the foregoing, any increase or decrease in volume of securities offered
(if the total dollar value of securities offered would not exceed that which was registered) and any deviation from the low or
high end of the estimated maximum offering range may be reflected in the form of prospectus filed with the Commission pursuant
to Rule 424(b) if, in the aggregate, the changes in volume and price represent no more than a 20 percent change in the maximum
aggregate offering price set forth in the &ldquo;Calculation of Registration Fee&rdquo; table in the effective Registration Statement;</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.75in; text-indent: 0pt"></TD><TD STYLE="width: 0.25in; text-indent: 0pt">(iii)</TD><TD STYLE="text-indent: 0pt">To include any material information with respect to the Plan not previously disclosed in this Registration Statement or any
material change to such information in this Registration Statement;</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in"><I>provided</I>, <I>however</I>, that paragraphs (a)(1)(i)
and (a)(1)(ii) do not apply if the information required to be included in a post-effective amendment by those paragraphs is contained
in periodic reports filed with or furnished to the Commission by the Registrant pursuant to Section 13 or 15(d) of the Exchange
Act that are incorporated by reference in this Registration Statement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-indent: 0.25in">(2)&#9;That, for the purpose
of determining any liability under the Securities Act, each such post-effective amendment shall be deemed to be a new registration
statement relating to the securities offered therein, and the offering of such securities at that time shall be deemed to be the
initial <I>bona fide</I> offering thereof.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-indent: 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-indent: 0.25in">(3)&#9;To remove from registration
by means of a post-effective amendment any of the securities being registered which remain unsold at the termination of the offering.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-indent: 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-indent: 0.25in">(4)&#9;To file a post-effective
amendment to the Registration Statement to include any financial statements required by Item 8.A of Form 20-F at the start of any
delayed offering or throughout a continuous offering. Financial statements and information otherwise required by Section 10(a)(3)
of the Act need not be furnished, <I>provided</I>, that the registrant includes in the prospectus, by means of a post-effective
amendment, financial statements required pursuant to this paragraph (a)(4) and other information necessary to ensure that all other
information in the prospectus is at least as current as the date of those financial statements.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-indent: 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in">(b)&#9;The undersigned Registrant hereby
undertakes that, for purposes of determining any liability under the Securities Act, each filing of the Registrant&rsquo;s annual
report pursuant to Section 13(a) or 15(d) of the Exchange Act (and, where applicable, each filing of an employee benefit plan&rsquo;s
annual report pursuant to Section 15(d) of the Exchange Act) that is incorporated by reference in this Registration Statement shall
be deemed to be a new registration statement relating to the securities offered therein, and the offering of such securities at
that time shall be deemed to be the initial <I>bona fide</I> offering thereof.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in">(c)&#9;Insofar as indemnification for liabilities
arising under the Securities Act may be permitted to directors, officers and controlling persons of the Registrant pursuant to
the foregoing provisions, or otherwise, the Registrant has been advised that in the opinion of the Securities and Exchange Commission
such indemnification is against public policy as expressed in the Securities Act and is, therefore, unenforceable. In the event
that a claim for indemnification against such liabilities (other than the payment by the Registrant of expenses incurred or paid
by a director, officer or controlling person of the Registrant in the successful defense of any action, suit or proceeding) is
asserted by such director, officer or controlling person in connection with the securities being registered, the Registrant will,
unless in the opinion of its counsel the matter has been settled by controlling precedent, submit to a court of appropriate jurisdiction
the question whether such indemnification by it is against public policy as expressed in the Securities Act and will be governed
by the final adjudication of such issue.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in">&nbsp;</P>


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<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">SIGNATURES</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in">Pursuant to the requirements of the Securities
Act of 1933, as amended, the Registrant, Israel Chemicals Ltd., certifies that it has reasonable grounds to believe that it meets
all of the requirements for filing on Form S-8 and has duly caused this Registration Statement to be signed on its behalf by the
undersigned, thereunto duly authorized, in Tel Aviv, Israel, on the 6th day of July 2015.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="3" STYLE="text-indent: 0pt">ISRAEL CHEMICALS LTD.</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="3" STYLE="text-indent: 0pt">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="3" STYLE="text-indent: 0pt">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-indent: 0pt">By:</TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; text-indent: 0pt">/s/ Kobi Altman</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 48%">&nbsp;</TD>
    <TD STYLE="width: 4%; text-indent: 0pt">&nbsp;</TD>
    <TD STYLE="width: 5%; text-indent: 0pt">Name:</TD>
    <TD STYLE="text-indent: 0pt; width: 33%">Kobi Altman</TD>
    <TD STYLE="width: 10%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-indent: 0pt">&nbsp;</TD>
    <TD STYLE="text-indent: 0pt">Title:</TD>
    <TD STYLE="text-indent: 0pt">Executive Vice President and Chief Financial Officer</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="3" STYLE="text-indent: 0pt">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-indent: 0pt">By:</TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; text-indent: 0pt">/s/ Lisa Haimovitz</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-indent: 0pt">&nbsp;</TD>
    <TD STYLE="text-indent: 0pt">Name:</TD>
    <TD STYLE="text-indent: 0pt">Lisa Haimovitz</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-indent: 0pt">&nbsp;</TD>
    <TD STYLE="text-indent: 0pt">Title:</TD>
    <TD STYLE="text-indent: 0pt">Vice President, General Counsel and Corporate Secretary</TD>
    <TD>&nbsp;</TD></TR>
</TABLE>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0.25in"><B>POWER OF ATTORNEY</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"><FONT STYLE="text-transform: uppercase">Know
all persons by these presents</FONT>, that each person whose signature appears below, constitutes and appoints each of Kobi Altman,
Israel Dreyfuss and Lisa Haimovitz as his or her true and lawful attorney-in-fact and agent, upon the action of such appointee,
with full power of substitution and resubstitution, to do any and all acts and things and execute, in the name of the undersigned,
any and all instruments which each of said attorneys-in-fact and agents may deem necessary or advisable in order to enable Israel
Chemicals Ltd. to comply with the Securities Act, and any requirements of the Commission in respect thereof, in connection with
the filing with the Commission of this Registration Statement under the Securities Act, including specifically but without limitation,
power and authority to sign the name of the undersigned to such Registration Statement, and any amendments to such Registration
Statement (including post-effective amendments), and to file the same with all exhibits thereto and other documents in connection
therewith, with the Commission, to sign any and all applications, registration statements, notices or other documents necessary
or advisable to comply with applicable state securities laws, and to file the same, together with other documents in connection
therewith with the appropriate state securities authorities, granting unto each of said attorneys-in-fact and agents full power
and authority to do and to perform each and every act and thing requisite or necessary to be done in and about the premises, as
fully and to all intents and purposes as the undersigned might or could do in person, hereby ratifying and confirming all that
each of said attorneys-in-fact and agents may lawfully do or cause to be done by virtue hereof.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 20.15pt">Pursuant to the requirements of the Securities
Act of 1933, as amended, this Registration Statement has been signed by the following persons in the capacities and on the dates
indicated:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 20.15pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 20.15pt"></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="width: 39%; text-align: center"><FONT STYLE="font-size: 10pt"><B STYLE="text-decoration: underline">Signature</B></FONT></TD>
    <TD STYLE="width: 2%">&nbsp;</TD>
    <TD STYLE="width: 27%; text-align: center"><FONT STYLE="font-size: 10pt"><B STYLE="text-decoration: underline">Title</B></FONT></TD>
    <TD STYLE="width: 2%">&nbsp;</TD>
    <TD STYLE="width: 17%; text-align: center"><FONT STYLE="font-size: 10pt"><B STYLE="text-decoration: underline">Date</B></FONT></TD></TR>
<TR>
    <TD STYLE="text-align: center; text-indent: -10pt">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD></TR>
<TR>
    <TD>


        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0pt; text-align: center; text-indent: 0pt">/s/ Stefan
Borgas</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0pt; text-align: center; text-indent: 0pt"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0pt; text-align: center; text-indent: 0pt">&nbsp;Stefan
Borgas</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0pt; text-align: center; text-indent: 0pt"></P></TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">Chief Executive Officer and Director (principal executive officer)</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">July 6, 2015</TD></TR>
<TR>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD></TR>
<TR>
    <TD STYLE="text-align: center; text-indent: 0pt">/s/ Kobi Altman</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD></TR>
<TR>
    <TD>


        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0pt; text-align: center; text-indent: 0pt"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0pt; text-align: center; text-indent: 0pt">&nbsp;Kobi
Altman</P></TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">Executive Vice President and Chief Financial Officer (principal financial officer)</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">July 6, 2015&nbsp;</TD></TR>
<TR>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD></TR>
<TR>
    <TD STYLE="text-align: center; text-indent: -10pt">/s/ Israel
Dreyfuss</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD></TR>
<TR>
    <TD>


        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0pt; text-align: center; text-indent: 0pt"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0pt; text-align: center; text-indent: 0pt">&nbsp;Israel
Dreyfuss</P></TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">Controller</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">July 6, 2015&nbsp;</TD></TR>
<TR>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD></TR>
<TR>
    <TD STYLE="text-align: center; text-indent: -10pt">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD></TR>
<TR>
    <TD>


        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0pt; text-align: center; text-indent: 0pt">/s/ Nir
Gilad</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0pt; text-align: center; text-indent: 0pt"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0pt; text-align: center; text-indent: 0pt">&nbsp;Nir
Gilad</P></TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">Chairman of the Board of Directors</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">July 6, 2015&nbsp;</TD></TR>
<TR>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD></TR>
<TR>
    <TD STYLE="text-align: center; text-indent: -10pt">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD></TR>
<TR>
    <TD>


        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0pt; text-align: center; text-indent: 0pt">/s/ Yaacov
Dior</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0pt; text-align: center; text-indent: 0pt"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0pt; text-align: center; text-indent: 0pt">&nbsp;Yaacov
Dior&nbsp;</P></TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">Director</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">July 6, 2015&nbsp;</TD></TR>
<TR>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD></TR>
<TR>
    <TD STYLE="text-align: center; text-indent: -10pt">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD></TR>
<TR>
    <TD>


        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0pt; text-align: center; text-indent: 0pt">/s/ Shimon
Eckhaus</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0pt; text-align: center; text-indent: 0pt"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0pt; text-align: center; text-indent: 0pt">&nbsp;Shimon
Eckhaus&nbsp;</P></TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">Director</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">July 6, 2015&nbsp;</TD></TR>
<TR>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD></TR>
<TR>
    <TD STYLE="text-align: center; text-indent: -10pt">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD></TR>
<TR>
    <TD>


        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0pt; text-align: center; text-indent: 0pt">&nbsp;/s/ Ovadia
Eli&nbsp;</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0pt; text-align: center; text-indent: 0pt"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0pt; text-align: center; text-indent: 0pt">&nbsp;Ovadia
Eli&nbsp;</P></TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">Director</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">July 6, 2015&nbsp;</TD></TR>
<TR>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD></TR>
</TABLE>

<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="margin: 0"></P>

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    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Arial, Helvetica, Sans-Serif"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

<P STYLE="margin: 0"></P>

<P STYLE="margin: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: center; width: 39%"><FONT STYLE="font-size: 10pt"><B STYLE="text-decoration: underline">Signature</B></FONT></TD>
    <TD STYLE="width: 2%">&nbsp;</TD>
    <TD STYLE="text-align: center; width: 27%"><FONT STYLE="font-size: 10pt"><B STYLE="text-decoration: underline">Title</B></FONT></TD>
    <TD STYLE="width: 2%">&nbsp;</TD>
    <TD STYLE="text-align: center; width: 17%"><FONT STYLE="font-size: 10pt"><B STYLE="text-decoration: underline">Date</B></FONT></TD></TR>
</TABLE>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR>
    <TD STYLE="text-align: center; text-indent: -10pt; width: 39%">&nbsp;</TD>
    <TD STYLE="width: 2%">&nbsp;</TD>
    <TD STYLE="width: 27%">&nbsp;</TD>
    <TD STYLE="width: 2%">&nbsp;</TD>
    <TD STYLE="text-align: center; width: 17%">&nbsp;</TD></TR>
<TR>
    <TD>


        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0pt; text-align: center; text-indent: 0pt">/s/ Dr.&nbsp;Miriam
Haran&nbsp;</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0pt; text-align: center; text-indent: 0pt"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0pt; text-align: center; text-indent: 0pt">&nbsp;Dr.&nbsp;Miriam
Haran&nbsp;</P></TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">Director</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;July 6, 2015</TD></TR>
<TR>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD></TR>
<TR>
    <TD STYLE="text-align: center; text-indent: -10pt">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD></TR>
<TR>
    <TD>


        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0pt; text-align: center; text-indent: 0pt">/s/ Aviad
Kaufman&nbsp;</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0pt; text-align: center; text-indent: 0pt"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0pt; text-align: center; text-indent: 0pt">&nbsp;Aviad
Kaufman&nbsp;</P></TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">Director</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">July 6, 2015&nbsp;</TD></TR>
<TR>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD></TR>
<TR>
    <TD STYLE="text-align: center; text-indent: -10pt">/s/ Victor
Medina&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD></TR>
<TR>
    <TD>
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        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0pt; text-align: center; text-indent: 0pt">Victor
Medina&nbsp;</P></TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">Director</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;July 6, 2015</TD></TR>
<TR>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD></TR>
<TR>
    <TD STYLE="text-align: center; text-indent: -10pt">/s/ Geoffrey Merszei</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD></TR>
<TR>
    <TD>
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        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0pt; text-align: center; text-indent: 0pt">Geoffrey Merszei</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0pt; text-align: center; text-indent: 0pt"></P></TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">Director</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;July 6, 2015</TD></TR>
<TR>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD></TR>
<TR>
    <TD STYLE="text-align: center; text-indent: -10pt">/s/ Prof. Yair
        Orgler</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD></TR>
<TR>
    <TD>
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        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0pt; text-align: center; text-indent: 0pt">Prof. Yair
        Orgler</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0pt; text-align: center; text-indent: 0pt"></P></TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">Director</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;July 6, 2015</TD></TR>
<TR>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD></TR>
<TR>
    <TD STYLE="text-align: center; text-indent: -10pt">/s/ Avisar Paz</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD></TR>
<TR>
    <TD>
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        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0pt; text-align: center; text-indent: 0pt">Avisar Paz</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0pt; text-align: center; text-indent: 0pt"></P></TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">Director</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;July 6, 2015</TD></TR>
<TR>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD></TR>
<TR>
    <TD STYLE="text-align: center; text-indent: -10pt">/s/ Eran
Sarig&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD></TR>
<TR>
    <TD>
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        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0pt; text-align: center; text-indent: 0pt">Eran
Sarig&nbsp;</P></TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">Director</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;July 6, 2015</TD></TR>
<TR>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD></TR>
<TR>
    <TD STYLE="text-align: center; text-indent: -10pt">/s/ Donald
J. Puglisi&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD></TR>
<TR>
    <TD>
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        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0pt; text-align: center; text-indent: 0pt">Donald
J. Puglisi&nbsp;</P></TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">Authorized U.S. Representative</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;July 6, 2015</TD></TR>
</TABLE>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 20.15pt"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 20.15pt">&nbsp;</P>


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<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">EXHIBIT INDEX</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 10%; text-indent: 0pt; padding: 4pt">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; border-bottom: Black 0.5pt solid">Exhibit Number&nbsp;</P></TD>
    <TD STYLE="width: 90%; text-indent: 0pt; padding: 4pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-indent: 0pt; padding: 4pt"><FONT STYLE="font-size: 10pt">4.1</FONT></TD>
    <TD STYLE="text-indent: 0pt; padding: 4pt"><FONT STYLE="font-size: 10pt">Memorandum of Association of Israel Chemicals Ltd. (unofficial translation from original Hebrew) (incorporated herein by reference to Exhibit 3.1 to the Company&rsquo;s Registration Statement on Form F-1, filed with the Commission on September 12, 2014 (Registration File No. 333-198711).</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-indent: 0pt; padding: 4pt"><FONT STYLE="font-size: 10pt">4.2</FONT></TD>
    <TD STYLE="text-indent: 0pt; padding: 4pt"><FONT STYLE="font-size: 10pt">Articles of Association of Israel Chemicals Ltd.
    (unofficial translation from original Hebrew) (incorporated herein by reference to Exhibit 3.2 to the Company&rsquo;s
    Registration Statement on Form F-1, filed with the Commission on September 12, 2014 (Registration File No.
    333-198711).</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-indent: 0pt; padding: 4pt"><FONT STYLE="font-size: 10pt">4.3</FONT></TD>
    <TD STYLE="text-indent: 0pt; padding: 4pt"><FONT STYLE="font-size: 10pt">Registration Rights Agreement, dated September 12 , 2014 by and among Israel Chemicals Ltd. and Israel Corporation Ltd. (incorporated herein by reference to Exhibit 4.8 to the Company&rsquo;s Annual Report on Form 20-F, filed with the Commission on March 20, 2014 (Registration File No. 001-13742).</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-indent: 0pt; padding: 4pt"><FONT STYLE="font-size: 10pt">5.1</FONT></TD>
    <TD STYLE="text-indent: 0pt; padding: 4pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Opinion of Goldfarb Seligman &amp; Co., Israeli counsel of Israel Chemical Ltd., as to the validity of the ordinary shares.</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-indent: 0pt; padding: 4pt"><FONT STYLE="font-size: 10pt">23.1</FONT></TD>
    <TD STYLE="text-indent: 0pt; padding: 4pt"><FONT STYLE="font-size: 10pt">Consent of Somekh Chaikin, a member firm of KPMG International, independent registered public accounting firm.</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-indent: 0pt; padding: 4pt"><FONT STYLE="font-size: 10pt">23.2</FONT></TD>
    <TD STYLE="text-indent: 0pt; padding: 4pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Consent of Goldfarb Seligman &amp; Co., Israeli counsel of Israel Chemical Ltd. (included in Exhibit 5.1 hereto).</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-indent: 0pt; padding: 4pt"><FONT STYLE="font-size: 10pt">24.1</FONT></TD>
    <TD STYLE="text-indent: 0pt; padding: 4pt"><FONT STYLE="font-size: 10pt">Powers of attorney (included on signature pages hereto).</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-indent: 0pt; padding: 4pt"><FONT STYLE="font-size: 10pt">99.1</FONT></TD>
    <TD STYLE="text-indent: 0pt; padding: 4pt"><FONT STYLE="font-size: 10pt">Equity Compensation Plan (2014) dated August 6, 2014 (unofficial translation from original Hebrew).</FONT></TD></TR>
</TABLE>

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[{"type": "S-8", "sequence": "1", "filename": "dp57554_s8.htm", "description": "FORM S-8", "secsgml_size_bytes": 82384}]
{"company-data": {"conformed-name": "ISRAEL CHEMICALS LTD", "cik": "0000941221", "assigned-sic": "2870", "irs-number": "000000000", "state-of-incorporation": "L3", "fiscal-year-end": "1231"}, "filing-values": {"form-type": "S-8", "act": "33", "file-number": "333-205518", "film-number": "15974380"}, "business-address": {"street1": "MILLENNIUM TOWER", "street2": "23 ARANHA STREET, P.O. BOX 20245", "city": "TEL AVIV", "state": "L3", "zip": "61202", "phone": "(972-3) 684-4400"}, "mail-address": {"street1": "MILLENNIUM TOWER", "street2": "23 ARANHA STREET, P.O. BOX 20245", "city": "TEL AVIV", "state": "L3", "zip": "61202"}}
As filed with the Securities and Exchange
Commission on July 6, 2015
Registration No. 333-[●]
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM S-8
REGISTRATION STATEMENT UNDER THE SECURITIES
ACT OF 1933
ISRAEL CHEMICALS LTD.
(Exact Name of Registrant as Specified
in its Charter)
Israel
Not Applicable
(State or Other Jurisdiction
    of
Incorporation or Organization)
(I.R.S. Employer
Identification No.)
Israel Chemicals Ltd.
Millennium Tower
23 Aranha Street
P.O. Box 20245
Tel Aviv, 61202, Israel
(Address, Including
    Zip Code, of Principal Executive Offices)
Equity
Compensation Plan (2014)
(Full
        Title of the Plan)
ICL North
    America Inc.
Attention: General Counsel
622 Emerson Road, Suite 500
St. Louis, Missouri 63141
(314) 983-7500
(Name, Address, Including Zip Code, and Telephone Number, Including Area Code, of Agent For Service)
Copies to:
Michael P.
    Kaplan
Davis Polk & Wardwell LLP
450 Lexington Avenue
New York, New York 10017
(212) 450-4000
Adam M. Klein
Goldfarb Seligman & Co.
98 Yigal Alon Street
Tel Aviv, 6789141 Israel
(972-3) 608-9999
Indicate by check mark whether
the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, or a smaller reporting company. See
the definitions of "large accelerated filer," "accelerated filer" and "smaller reporting company"
in Rule 12b-2 of the Exchange Act.
Large accelerated filer
☐
Accelerated filer
☐
Non-accelerated filer
☒
(Do not check if a smaller
    reporting company)
Smaller reporting company
☐
CALCULATION
OF REGISTRATION FEE
Title
    of Each Class of Securities to Be Registered
Amount
    To Be Registered
Proposed
    Maximum Offering Price Per Share
Proposed
    Maximum Aggregate Offering Price
Amount
    of Registration Fee
Ordinary
    Shares, par value NIS 1.00 per share, reserved for issuance pursuant to the Equity Compensation Plan (2014)
75,970,492
    (1)
$6.86
    (2)
$521,157,575.12(2)
$60,558.51(3)
Total
75,970,492
N/A
$521,157,575.12
$60,558.51(3)
(1)
This
                                         Registration Statement on Form S-8 (this "Registration Statement") covers
                                         (i) ordinary shares, par value NIS 1.00 per share ("Ordinary Shares"), of
                                         Israel Chemicals Ltd. (the "Company" or the "Registrant") issuable
                                         pursuant to the Company's Equity Compensation Plan (2014) (the "Plan"),
                                         and (ii) pursuant to Rule 416(a) under the Securities Act of 1933, as amended (the "Securities
                                         Act"), any additional Ordinary Shares that become issuable under the Plan by reason
                                         of any stock dividend, stock split, or other similar transaction.
(2)
Estimated
                                         pursuant to Rule 457(h) under the Securities Act solely for the purpose of computing
                                         the registration fee, based on the average of the high and low prices reported for the
                                         Ordinary Shares on the New York Stock Exchange on June 29, 2015.
(3)
Rounded
                                         up to the nearest penny.
PART I
The information specified in Part I of
Form S-8 is omitted from this filing in accordance with the provisions of Rule 428 under the Securities Act and the introductory
note to Part I of the Form S-8 instructions. The documents containing the information specified in Part I will be delivered to
the participants in the Plan as required by Rule 428(b)(1).
PART II
INFORMATION REQUIRED IN THE REGISTRATION STATEMENT
Item 3. Incorporation of Documents by Reference.
The following documents filed by the Company
with the Securities and Exchange Commission (the "Commission") under the Securities Act of 1933, as amended (the "Securities
Act") or the Securities Exchange Act of 1934, as amended (the "Exchange Act") are incorporated herein by reference:
(a)	The Company's Annual Report
on Form 20-F for the year ended December 31, 2014 (Registration File No. 001-13742) (the "Annual Report"), as filed
by the Company on March 20, 2015;
(b) The Company's reports of
foreign private issuer on Form 6-K furnished to the Commission on March 23, 2015, April 13, 2015, May 13, 2015
(Immediate Report Regarding a Dividend Distribution), May 13, 2015 (Q1 2015 Results), May 26, 2015, June 8, 2015, June 22, 2015 and
June 29, 2015; and
(c)	The description of the Company's
ordinary shares which is contained in the Company's Exchange Act Registration Statement on Form 8-A dated September 17, 2014
(Registration File No. 001-13742), including any amendments or supplements thereto.
In addition, all documents subsequently
filed by the Company with the Commission pursuant to Sections 13(a), 13(c), 14 and 15(d) of the Exchange Act, and all reports (or
portions thereof) on Form 6-K subsequently furnished by the Company to the Commission that are expressly identified in such reports
as being incorporated by reference in to this Registration Statement, prior to the filing of a post-effective amendment to this
Registration Statement which indicates that all securities offered have been sold or which deregisters all securities then remaining
unsold, shall be deemed to be incorporated by reference in this Registration Statement and to be a part hereof from the date of
the filing of such documents.
Any statement contained in a document incorporated
or deemed to be incorporated by reference herein shall be deemed to be modified or superseded for purposes of this Registration
Statement to the extent that a statement contained herein (or in any other subsequently filed document which also is incorporated
or deemed to be incorporated by reference herein) modifies or supersedes such statement. Any such statement so modified or superseded
shall not be deemed, except as so modified or superseded, to constitute a part of this Registration Statement.
Item 4. Description of Securities.
Not applicable.
Item 5. Interests of Named Experts and Counsel.
Not applicable.
Item 6. Indemnification of Directors and Officers.
General
. The Company's Articles
of Association set forth the following provisions regarding the grant of insurance coverage, indemnification and an exemption from
liability to any of its directors or officers, all subject to the provisions of applicable law. In accordance with such provisions
and pursuant to the requisite corporate approvals, the Company has obtained liability insurance covering its directors and officers,
has granted indemnification undertakings to its directors and officers and has agreed to exempt its directors and officers from
liability for breach of the duty of care.
Insurance
. The Company is entitled
to insure the liability of any director or officer to the fullest extent
permitted by law. Without derogating from the aforesaid,
the Company may enter into a contract to insure the liability of a director or officer for an obligation imposed on him in consequence
of an act done in his capacity as such, in any of the following cases:
·
a breach of the duty of care toward the Company or a third party;
·
a breach of the duty of loyalty toward the Company, provided that the director or officer acted in good faith and had reasonable
basis to believe that the act would not harm the Company;
·
a monetary obligation imposed on him in favor of a third party;
·
reasonable litigation expenses, including attorney fees, incurred by the director or officer as a result of an administrative
enforcement proceeding instituted against him; or
·
a payment imposed on the director or officer in favor of an injured party as set forth in Section 52(54)(a)(1)(a) of the Israeli
Securities Law, 5728-1968, as amended (the "Securities Law").
The Company, with the approval of the Audit
Committee, the Board of Directors and the General Meeting of its Shareholders, granted its officers an exemption and letters of
indemnification, and has also taken out an insurance policy covering directors and officers. The insurance and the compensation
do not apply to those cases specified in Section 263 of the Israeli Companies Law, 1999 (the "Companies Law"). The
exemption is for damage caused and/or to be caused by such officers, due to a breach of the duty of care to the Company. The amount
of the indemnification payable by the Company under the letter of indemnification, in addition to amounts received from an insurance
company, if any, for all of the officers on a cumulative basis, for one or more of the events detailed therein, was limited to
$300 million. The insurance is renewed annually. On May 8, 2014 the General Meeting of Shareholders approved an increase of the
insurance coverage as determined within the framework resolution approved by the General Meeting of Shareholders in August 2012,
from $300 million to $350 million from the date on which the Company's shares were listed for sale on the United States stock
exchange. The coverage in effect (including a shared tier with the parent company of up to $20 million) stands at an aggregate
amount of $220 million.
Indemnification
The Company is entitled to indemnify a
director or officer to the fullest extent permitted by law, either retroactively or pursuant to an undertaking given in advance.
Without derogating from the aforesaid, the Company may indemnify its directors or officers for liability or expense imposed on
him in consequence of an action taken by him in his capacity as such, as follows:
·
a financial liability incurred or imposed on him in favor of another person in accordance with a judgment, including a judgment
given in a settlement or an award of an arbitrator that is approved by a court, provided that any undertaking in advance to indemnify
is limited to events that, in the opinion of the Company's Board of Directors, are foreseeable in light of the Company's
actual activity at the time of granting the undertaking and limited to a sum or criteria determined by the Company's Board
of Directors to be reasonable under the circumstances;
·
reasonable litigation expenses, including legal fees, incurred in connection with an investigation or proceeding conducted
against him by an authority authorized to conduct such an investigation or proceeding, and which concluded without an indictment
against him and without a financial sanction in lieu of a criminal proceeding (except for an offense that does not require proof
of criminal intent), or in connection with a financial sanction;
·
reasonable litigation expenses, including legal fees, incurred by the director or officer or which he was ordered to pay by
a court, within the framework of proceedings filed against him by or on behalf of the Company, or by a third party, or in a criminal
proceeding in which he was acquitted, or in a criminal proceeding in which he was convicted of an offense which does not require
a criminal intent;
·
reasonable litigation expenses, including attorney fees, incurred by the director or officer as a result of an administrative
enforcement proceeding instituted against him; or
·
a payment imposed on the director or officer in favor of an injured party as set forth in Section 52(54)(a)(1)(a) of the Securities
Law.
Exemption
. The Company is entitled
to exempt a director or officer in advance from any or all of his liability for damage in consequence of a breach of the duty of
care toward the Company, except in connection with illegal distributions to shareholders.
Limitations
. The Companies Law provides
that a company may not provide its directors or officers with insurance or indemnification or exempt its directors or officers
from liability with respect to the following:
·
breach of the duty of loyalty toward the company, unless, with respect to insurance coverage or indemnification, the director
or officer acted in good faith and had a reasonable basis to believe that the act would not harm the company;
·
an intentional or reckless breach of the duty of care;
·
an act done with the intention of illegally deriving a personal profit; or
·
a fine imposed on the director or officer.
Insofar as indemnification for liabilities
arising under the Securities Act may be permitted to the Company's directors, officers or controlling persons pursuant to
the foregoing provisions, the Company has been informed that in the opinion of the Securities and Exchange Commission, such indemnification
is against public policy as expressed in the Securities Act and is therefore unenforceable as a matter of United States law.
Item 7. Exemption from Registration Claimed.
Not applicable.
Item 8. Exhibits.
Exhibit Number
4.1
Memorandum of Association of Israel Chemicals Ltd. (unofficial translation from original Hebrew) (incorporated herein by reference to Exhibit 3.1 to the Company's Registration Statement on Form F-1, filed with the Commission on September 12, 2014 (Registration File No. 333-198711).
4.2
Articles of Association of Israel Chemicals Ltd. (unofficial translation from original Hebrew) (incorporated herein by reference to Exhibit 3.2 to the Company's Registration Statement on Form F-1, filed with the Commission on September 12, 2014 (Registration File No. 333-198711).
4.3
Registration Rights Agreement, dated September 12 , 2014 by and among Israel Chemicals Ltd. and Israel Corporation Ltd. (incorporated herein by reference to Exhibit 4.8 to the Company's Annual Report on Form 20-F, filed with the Commission on March 20, 2014 (Registration File No. 001-13742).
5.1
Opinion of Goldfarb Seligman & Co., Israeli counsel of Israel Chemical Ltd., as to the validity of the ordinary shares.
23.1
Consent of Somekh Chaikin, a member firm of KPMG International, independent registered public accounting firm.
23.2
Consent of Goldfarb Seligman & Co., Israeli counsel of Israel Chemical Ltd. (included in Exhibit 5.1).
24.1
Powers of attorney (included on signature pages hereto).
99.1
Equity Compensation Plan (2014) dated August 6, 2014 (unofficial translation from original Hebrew).
Item 9. Undertakings.
(a)	The undersigned Registrant hereby
undertakes:
(1)	To file, during any period
in which offers or sales are being made, a post-effective amendment to this Registration Statement:
(i)
To include any prospectus required by Section 10(a)(3) of the Securities Act;
(ii)
To reflect in the prospectus any facts or events arising after the effective date of this Registration Statement (or the most
recent post-effective amendment thereof) which, individually or in the aggregate, represent a fundamental change in the information
set forth in this Registration Statement. Notwithstanding the foregoing, any increase or decrease in volume of securities offered
(if the total dollar value of securities offered would not exceed that which was registered) and any deviation from the low or
high end of the estimated maximum offering range may be reflected in the form of prospectus filed with the Commission pursuant
to Rule 424(b) if, in the aggregate, the changes in volume and price represent no more than a 20 percent change in the maximum
aggregate offering price set forth in the "Calculation of Registration Fee" table in the effective Registration Statement;
(iii)
To include any material information with respect to the Plan not previously disclosed in this Registration Statement or any
material change to such information in this Registration Statement;
provided
,
however
, that paragraphs (a)(1)(i)
and (a)(1)(ii) do not apply if the information required to be included in a post-effective amendment by those paragraphs is contained
in periodic reports filed with or furnished to the Commission by the Registrant pursuant to Section 13 or 15(d) of the Exchange
Act that are incorporated by reference in this Registration Statement.
(2)	That, for the purpose
of determining any liability under the Securities Act, each such post-effective amendment shall be deemed to be a new registration
statement relating to the securities offered therein, and the offering of such securities at that time shall be deemed to be the
initial
bona fide
offering thereof.
(3)	To remove from registration
by means of a post-effective amendment any of the securities being registered which remain unsold at the termination of the offering.
(4)	To file a post-effective
amendment to the Registration Statement to include any financial statements required by Item 8.A of Form 20-F at the start of any
delayed offering or throughout a continuous offering. Financial statements and information otherwise required by Section 10(a)(3)
of the Act need not be furnished,
provided
, that the registrant includes in the prospectus, by means of a post-effective
amendment, financial statements required pursuant to this paragraph (a)(4) and other information necessary to ensure that all other
information in the prospectus is at least as current as the date of those financial statements.
(b)	The undersigned Registrant hereby
undertakes that, for purposes of determining any liability under the Securities Act, each filing of the Registrant's annual
report pursuant to Section 13(a) or 15(d) of the Exchange Act (and, where applicable, each filing of an employee benefit plan's
annual report pursuant to Section 15(d) of the Exchange Act) that is incorporated by reference in this Registration Statement shall
be deemed to be a new registration statement relating to the securities offered therein, and the offering of such securities at
that time shall be deemed to be the initial
bona fide
offering thereof.
(c)	Insofar as indemnification for liabilities
arising under the Securities Act may be permitted to directors, officers and controlling persons of the Registrant pursuant to
the foregoing provisions, or otherwise, the Registrant has been advised that in the opinion of the Securities and Exchange Commission
such indemnification is against public policy as expressed in the Securities Act and is, therefore, unenforceable. In the event
that a claim for indemnification against such liabilities (other than the payment by the Registrant of expenses incurred or paid
by a director, officer or controlling person of the Registrant in the successful defense of any action, suit or proceeding) is
asserted by such director, officer or controlling person in connection with the securities being registered, the Registrant will,
unless in the opinion of its counsel the matter has been settled by controlling precedent, submit to a court of appropriate jurisdiction
the question whether such indemnification by it is against public policy as expressed in the Securities Act and will be governed
by the final adjudication of such issue.
SIGNATURES
Pursuant to the requirements of the Securities
Act of 1933, as amended, the Registrant, Israel Chemicals Ltd., certifies that it has reasonable grounds to believe that it meets
all of the requirements for filing on Form S-8 and has duly caused this Registration Statement to be signed on its behalf by the
undersigned, thereunto duly authorized, in Tel Aviv, Israel, on the 6th day of July 2015.
ISRAEL CHEMICALS LTD.
By:
/s/ Kobi Altman
Name:
Kobi Altman
Title:
Executive Vice President and Chief Financial Officer
By:
/s/ Lisa Haimovitz
Name:
Lisa Haimovitz
Title:
Vice President, General Counsel and Corporate Secretary
POWER OF ATTORNEY
Know
all persons by these presents
, that each person whose signature appears below, constitutes and appoints each of Kobi Altman,
Israel Dreyfuss and Lisa Haimovitz as his or her true and lawful attorney-in-fact and agent, upon the action of such appointee,
with full power of substitution and resubstitution, to do any and all acts and things and execute, in the name of the undersigned,
any and all instruments which each of said attorneys-in-fact and agents may deem necessary or advisable in order to enable Israel
Chemicals Ltd. to comply with the Securities Act, and any requirements of the Commission in respect thereof, in connection with
the filing with the Commission of this Registration Statement under the Securities Act, including specifically but without limitation,
power and authority to sign the name of the undersigned to such Registration Statement, and any amendments to such Registration
Statement (including post-effective amendments), and to file the same with all exhibits thereto and other documents in connection
therewith, with the Commission, to sign any and all applications, registration statements, notices or other documents necessary
or advisable to comply with applicable state securities laws, and to file the same, together with other documents in connection
therewith with the appropriate state securities authorities, granting unto each of said attorneys-in-fact and agents full power
and authority to do and to perform each and every act and thing requisite or necessary to be done in and about the premises, as
fully and to all intents and purposes as the undersigned might or could do in person, hereby ratifying and confirming all that
each of said attorneys-in-fact and agents may lawfully do or cause to be done by virtue hereof.
Pursuant to the requirements of the Securities
Act of 1933, as amended, this Registration Statement has been signed by the following persons in the capacities and on the dates
indicated:
Signature
Title
Date
/s/ Stefan
Borgas
Stefan
Borgas
Chief Executive Officer and Director (principal executive officer)
July 6, 2015
/s/ Kobi Altman
Kobi
Altman
Executive Vice President and Chief Financial Officer (principal financial officer)
July 6, 2015
/s/ Israel
Dreyfuss
Israel
Dreyfuss
Controller
July 6, 2015
/s/ Nir
Gilad
Nir
Gilad
Chairman of the Board of Directors
July 6, 2015
/s/ Yaacov
Dior
Yaacov
Dior
Director
July 6, 2015
/s/ Shimon
Eckhaus
Shimon
Eckhaus
Director
July 6, 2015
/s/ Ovadia
Eli
Ovadia
Eli
Director
July 6, 2015
Signature
Title
Date
/s/ Dr. Miriam
Haran
Dr. Miriam
Haran
Director
July 6, 2015
/s/ Aviad
Kaufman
Aviad
Kaufman
Director
July 6, 2015
/s/ Victor
Medina
Victor
Medina
Director
July 6, 2015
/s/ Geoffrey Merszei
Geoffrey Merszei
Director
July 6, 2015
/s/ Prof. Yair
        Orgler
Prof. Yair
        Orgler
Director
July 6, 2015
/s/ Avisar Paz
Avisar Paz
Director
July 6, 2015
/s/ Eran
Sarig
Eran
Sarig
Director
July 6, 2015
/s/ Donald
J. Puglisi
Donald
J. Puglisi
Authorized U.S. Representative
July 6, 2015
EXHIBIT INDEX
Exhibit Number
4.1
Memorandum of Association of Israel Chemicals Ltd. (unofficial translation from original Hebrew) (incorporated herein by reference to Exhibit 3.1 to the Company's Registration Statement on Form F-1, filed with the Commission on September 12, 2014 (Registration File No. 333-198711).
4.2
Articles of Association of Israel Chemicals Ltd.
    (unofficial translation from original Hebrew) (incorporated herein by reference to Exhibit 3.2 to the Company's
    Registration Statement on Form F-1, filed with the Commission on September 12, 2014 (Registration File No.
    333-198711).
4.3
Registration Rights Agreement, dated September 12 , 2014 by and among Israel Chemicals Ltd. and Israel Corporation Ltd. (incorporated herein by reference to Exhibit 4.8 to the Company's Annual Report on Form 20-F, filed with the Commission on March 20, 2014 (Registration File No. 001-13742).
5.1
Opinion of Goldfarb Seligman & Co., Israeli counsel of Israel Chemical Ltd., as to the validity of the ordinary shares.
23.1
Consent of Somekh Chaikin, a member firm of KPMG International, independent registered public accounting firm.
23.2
Consent of Goldfarb Seligman & Co., Israeli counsel of Israel Chemical Ltd. (included in Exhibit 5.1 hereto).
24.1
Powers of attorney (included on signature pages hereto).
99.1
Equity Compensation Plan (2014) dated August 6, 2014 (unofficial translation from original Hebrew).