Common use of Advanced Study Fund Clause in Contracts

Advanced Study Fund. The Company shall, during the Employment Period, make monthly contributions on behalf of the Executive to a recognized Advanced Study Fund in an amount equal to 7.5% of the Executive’s salary. Any tax payable in respect of such contributions to such fund shall be paid by the Company. In addition the Company shall deduct 2.5% from the Executive’s salary which deduction shall also be paid to such Fund.

Advanced Study Fund. The Company shall, during the Employment Period, make monthly contributions on behalf of the Executive to a recognized Advanced Study Fund in an amount equal to 7.5% of the Executive’s salary. Any tax payable in respect of such contributions to such fund shall be paid by the CompanyExecutive. In addition the Company shall deduct 2.5% from the Executive’s salary which deduction shall also be paid to such Fund. All deposits shall belong to the Executive.

Advanced Study Fund. (a) The Company shall, during the Employment Period, shall continue to make monthly contributions on behalf of the Executive 's behalf to a recognized Advanced advanced study fund (“Keren Hishtalmut”) (hereinafter the “Study Fund Fund”), in an amount equal to 7.5% of monthly Base Salary of the Executive’s salary. Any tax payable in respect of such contributions to such fund shall be paid by the Company. In addition addition, the Company shall deduct 2.5% from the Executive’s salary which deduction shall also be paid monthly Base Salary. It is hereby clarified that the sums contributed by the Company to such Fundthe Study Fund will not exceed the exempted limit recognized by the Income Tax Authority from time to time.