Bituach Menahalim Sample Clauses

Bituach Menahalim. From the Effective Date the Company and the Employee will obtain and maintain Manager's Insurance (Bituach Menahalim) under Israeli law for the benefit of the Employee in the customary form in Israel. Each of the Company and the Employee shall contribute toward the premiums payable in respect of such insurance those amounts which would be recognized under applicable law, but in no event shall such contributed amounts be more than thirteen and one-third percent (13-1/3%) of each monthly Salary payment from the Company and five percent (5%) of such amount from the Employee. The Employee will be able to elect the insurance company or other such fund through which this insurance will be purchased. On termination of the employment, Employee will be eligible to receive all amounts accrued to him in the fund subject to clause 2.5.3 above. A clause to the effect of this will be included in the policy.
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Bituach Menahalim. The Company and the Employee will obtain and maintain Manager's Insurance (Bituach Menahalim) and Professional Disability Insurance for the exclusive benefit of the Employee in the customary form. Each of the Company and the Employee shall contribute toward the premiums payable in respect of such insurance those amounts which would be recognized under applicable law, but in no event shall such contributed amounts be more than thirteen and one third percent (13-1/3%) of each monthly Gross Salary and Office Allowance payment from the Company and five percent (5 %) of such amount from the Employee. It is hereby agreed that in the event that Employee's employment hereunder is terminated by the Company or the Employee for any reason, Employee will be eligible to receive all amounts accrued to him in the fund.
Sample 1
Bituach Menahalim. The Company and the Employee will obtain and maintain Manager's Insurance (Bituach Menahalim) under Israeli law for the benefit of the Employee in the customary form in Israel. Each of the Company and the Employee shall contribute toward the premiums payable in respect of such insurance those amounts which would be recognized under applicable law, but in no event shall such contributed amounts be more than thirteen and one third percent (13 1/3%) and up to two and a half per cent (2.5%) for work disability cover of each monthly Gross Salary payment from the Company and five percent (5 %) of such amount from the Employee (which Company shall deduct automatically from Gross Salary). It is hereby agreed that in the event that Employee's employment hereunder is terminated by the Company for any reason other than "cause", the amount payable under such insurance policy in respect of severance pay shall be in lieu and final substitution of the amount of severance pay, if any, payable under Israeli law, and the Company shall not be duty-bound to pay any other amounts in respect of severance pay or in respect of the termination of employment (except as otherwise set forth herein).
Sample 1
Bituach Menahalim. The Corporation and the Employee will obtain and maintain Manager's Insurance (Bituach Menahalim) and Professional Disability Insurance for the exclusive benefit of the Employee in the customary form. Each of the Corporation and the Employee shall contribute toward the premiums payable in respect of such insurance those amounts which would be recognized under applicable law, but in no event shall such contributed amounts be more than thirteen and one third percent (13 1/3%) of each monthly Gross Salary payment from the Corporation and five percent (5 %) of such amount from the Employee. On termination, Corporation shall assign all such policies to Employee which shall include all amounts of the funds and benefits accrued under such policies.
Sample 1
Bituach Menahalim. From the Effective Date the Company and the Employee will obtain and maintain Manager's Insurance (Bituach Menahalim) under Israeli law for the benefit of the Employee in the customary form in Israel. Each of the Company and the Employee shall contribute toward the premiums payable in respect of such insurance those amounts which would be recognized under applicable law, but in no event shall such contributed amounts be more than thirteen and one third percent (13 1/3%) of each monthly Gross Salary payment from the Company and five percent (5 %) of such amount from the Employee. It is hereby agreed that in the event that Employee's employment hereunder is terminated by the Company for any reason other than "Cause" as herein provided, the amount payable under such insurance policy in respect of severance pay shall be in lieu and final substitution of the amount of severance pay, if any, payable under Israeli law, and the Company shall not be duty-bound to pay any other amounts in respect of severance pay or in respect of the termination of employment. The employee will be able to elect the insurance company or other such fund through which this insurance will be purchased. On termination of the employment, Employee will be eligible to receive all amounts accrued to him in the fund. A clause to the effect of this will be included in the policy.
Sample 1
Bituach Menahalim. The Employee may subsequently decide that the Corporation and the Employee will obtain and maintain Manager’s Insurance (Bituach Menahalim) and Professional Disability Insurance for the exclusive benefit of the Employee in the customary form. Each of the Corporation and the Employee shall contribute toward the premiums payable in respect of such insurance those amounts which would be recognized under applicable law, but in no event shall such contributed amounts be more than thirteen and one third percent (13 1/3%) of each monthly Gross Salary payment from the Corporation and five percent (5 %) of such amount from the Employee. On termination for any reason, Corporation shall assign all such policies to Employee which shall include all amounts of the funds and benefits accrued under such policies, subject to clause 3.7 herein. The Corporation shall execute required documentation to effect this clause. It shall be clear that any amount paid by the Corporation under the provisions of this section 3.2 shall be included in Corporation’s total costs under this Part 3 of not more than NIS 60,000.
Sample 1
Bituach Menahalim. The Company and Employee will obtain and maintain Manager’s Insurance (Bituach Mehahalim) under Israeli law for the benefit of Employee in the customary form in Israel. Each of the Company and Employee shall contribute toward the premiums payable with respect to such insurance those amounts which would be recognized under applicable Israeli law, but in no event shall such contributed amounts be more than fourteen and one-third percent (14 1/3%) of each monthly Gross Salary payment from the Company and six percent (6%) of such amount from Employee. It is hereby agreed that in the event Employee’s employment hereunder is terminated by the Company for any reason other than “cause,” the amount payable under such insurance policy with respect to severance pay shall be in lieu and final substitution of the amount of severance pay, if any, payable under Israeli law.
Sample 1
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Related to Bituach Menahalim

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