Yes, and that's pretty much why the Egyptian government no longer participates in attacks on Israel, and why they participate in the WOT.
As far as I can tell, it's an outright bribe, and Egypt so far is staying bought. In the Mediterranean cultural world, that makes Egypt honorable.
This may have had some bearing on their decision to leave the Israelis alone.
1967 war: Egypt's losses in the war were enormous: approximately 10,000 soldiers and 1,500 officers killed, 5,000 soldiers and 500 officers captured, 80 percent of military equipment destroyed. Sinai was under Israeli control, and the Suez Canal was blocked and closed to shipping.
1973 war: In Egypt the casualties included about 8,000 killed.
After the June 1967 War and again after the October 1973 War, Egypt had to rebuild totally its air force. Only a few hours after the June 1967 War began, Israel had virtually wiped out the Egyptian air force.