Can an Israeli employment contract waive statutory rights?

No. Israeli employment law is largely mandatory — the statutory minimum rights set by legislation cannot be waived by contract. If a contract provides less than the statutory minimum (for example, less annual leave than the law requires), the statutory minimum applies regardless of what the contract says. Contracts may provide rights that exceed the statutory minimum, and many employer-employee agreements do so. For more detail, see Employment Contracts in Israel for Foreign Workers and Expats.