Car. If at any time hereafter Employee elects, by way of a written notice to the Company, to receive a car in lieu of the travel allowance otherwise provided to him in accordance with Section 15 below of this Appendix A, then as soon as practicable thereafter the Company shall make available to Employee a leased car of a make and size to be determined by the Employee (the “Car”) and subject to the terms below, in lieu of paying to Employee a travel allowance in accordance with Section 15 below of this Appendix A, and in such case, the following terms shall apply: The Company shall bear the following costs of the Car: purchase or lease costs (up to NIS 4,500 per month), governmental licenses, insurance, gasoline, toll road fees, ongoing maintenance repairs expenses, and no other cost or expense. All other costs and expenses relating to the Car, including without limitation purchase or lease costs (above such NIS 4,500 per month), tickets, fines of any kind, deductibles payable under any insurance policy in connection with damages, and any damages not covered by insurance policy, shall be borne and paid solely by Employee (the Company shall be entitled to deduct from the Salary or from any other payment due to Employee, and Employee shall indemnify and/or reimburse Company for, all costs and expenses, if any, incurred by the Company in connection with the foregoing, promptly after they were paid by the Company). Employee shall bear all taxes (including income tax and social security payments) in connection with the Car and the use thereof, in accordance with applicable law and regulations, and shall be entitled to a gross-up of any and all taxes imposed in connection with the receipt and use of such Car. Employee shall: (i) take good care of the Car and ensure that the terms and conditions of the insurance policies, the lease agreement and Company’s policies relating to the Car are strictly, lawfully and carefully observed (including terms relating to safeguarding of the Car); (ii) use the Car in accordance with the Company’s policy as in effect from time to time; and (iii) return the Car to the Company (together with all sets of keys, licenses and other documentation relating to the Car) on the last day of Employee’s employment with the Company (or earlier, as may be applicable under Section 15 below of this Appendix A). Employee shall not have any lien with respect to the Car or any document or property relating thereto. The provision of the Car shall be in lieu of payment by the Company to Employee of any travel allowance.
Appears in 2 contracts
Samples: Employment Agreement (Ayala Pharmaceuticals, Inc.), Employment Agreement (Ayala Pharmaceuticals, Inc.)
Car. If at any time hereafter (a) The Employee elects, by way of a written notice to the Company, shall be entitled to receive a leased car up to managerial category group 1 in lieu of the travel allowance otherwise provided to him in accordance with Section 15 below of this Appendix A, then as soon as practicable thereafter the Company shall make available to Employee a leased car of a make and size to be determined by the Employee program (the “"Car”").
(b) and subject to the terms below, in lieu of paying to Employee a travel allowance in accordance with Section 15 below of this Appendix A, and in such case, the following terms shall apply: The Company shall bear all expenses related to the following costs of Car as detailed in Appendix A however the Car: purchase or lease costs (up to NIS 4,500 per month), governmental licenses, insurance, gasoline, toll road fees, ongoing maintenance repairs expenses, Employee shall bear and no other cost or expense. All other costs and pay all expenses relating to any violation of law committed in connection with the use of the Car, including without limitation purchase any parking or lease costs traffic fines, and will bear the sole liability in connection therewith
(above such NIS 4,500 per month), tickets, fines c) Employee shall take good care of any kind, deductibles payable under any the Car and ensure that the provisions of the insurance policy in connection with damages, and any damages not covered by insurance policy, shall be borne and paid solely by Employee (the Company shall be entitled to deduct from the Salary or from any other payment due to Employee, and Employee shall indemnify and/or reimburse Company for, all costs and expenses, if any, incurred by the Company in connection with the foregoing, promptly after they were paid by the Company). ’s rules relating to the Car are strictly, lawfully and carefully observed.
(d) The Employee shall bear any and all taxes (including income tax and social security payments) applicable to him in connection with the Car and the use thereof, in accordance with income tax regulations applicable law and regulationsthereto.
(e) To avoid any doubt, and shall be entitled to a gross-up of any and all taxes imposed in connection with the receipt and use of such Car. Employee shall: (i) take good care of the Car and ensure that the terms and conditions of the insurance policies, the lease agreement and Company’s policies relating granted to the Car are strictly, lawfully and carefully observed (including terms relating to safeguarding of the Car); (ii) use the Car in accordance with the Company’s policy as in effect from time to time; and (iii) return the Car to the Company (together with all sets of keys, licenses and other documentation relating to the Car) on the last day of Employee’s employment with the Company (or earlier, as may be applicable under Section 15 below of this Appendix A). Employee shall not have any lien with respect to the Car or any document or property relating thereto. The provision of the Car use shall be in lieu of payment traveling expenses as required by applicable law.
(f) The current procedure related to the leased Car is described in Appendix A, attached hereto. The annual travel allocation shall be 40,000 kilometer.
(g) The Employee hereby irrevocably authorizes the Company to set off and deduct all amounts that he may be owed to the Company under this subsection 8.6 and under Appendix A against any and all amounts due to him from the Company under this Agreement.
(h) The Employee shall return the Car (together with its keys and any other equipment supplied and/or installed therein by Company) to the Company upon termination of his employment with Company. The Employee shall have no rights of lien with respect to Company Car and/or any travel allowanceother equipment relating thereto as above mentioned.
Appears in 1 contract
Samples: Personal Employment Agreement (Ormat Technologies, Inc.)
Car. If at any time hereafter (a) The Employee elects, by way of a written notice to the Company, shall be entitled to receive a car in lieu of the travel allowance otherwise provided to him in accordance with Section 15 below of this Appendix A, then as soon as practicable thereafter the Company shall make available to Employee a leased car of a make and size up to be determined by the Employee managerial category suitable for his position (the “"Car”").
(b) and subject to the terms below, in lieu of paying to Employee a travel allowance in accordance with Section 15 below of this Appendix A, and in such case, the following terms shall apply: The Company shall bear all expenses related to the following costs of Car as detailed in Appendix A however the Car: purchase or lease costs (up to NIS 4,500 per month), governmental licenses, insurance, gasoline, toll road fees, ongoing maintenance repairs expenses, Employee shall bear and no other cost or expense. All other costs and pay all expenses relating to any violation of law committed in connection with the use of the Car, including without limitation purchase any parking or lease costs traffic fines, and will bear the sole liability in connection therewith
(above such NIS 4,500 per month), tickets, fines c) Employee shall take good care of any kind, deductibles payable under any the Car and ensure that the provisions of the insurance policy in connection with damages, and any damages not covered by insurance policy, shall be borne and paid solely by Employee (the Company shall be entitled to deduct from the Salary or from any other payment due to Employee, and Employee shall indemnify and/or reimburse Company for, all costs and expenses, if any, incurred by the Company in connection with the foregoing, promptly after they were paid by the Company). ’s rules relating to the Car are strictly, lawfully and carefully observed.
(d) The Employee shall bear any and all taxes (including income tax and social security payments) applicable to him in connection with the Car and the use thereof, in accordance with income tax regulations applicable law and regulationsthereto.
(e) To avoid any doubt, and shall be entitled to a gross-up of any and all taxes imposed in connection with the receipt and use of such Car. Employee shall: (i) take good care of the Car and ensure that the terms and conditions of the insurance policies, the lease agreement and Company’s policies relating granted to the Car are strictly, lawfully and carefully observed (including terms relating to safeguarding of the Car); (ii) use the Car in accordance with the Company’s policy as in effect from time to time; and (iii) return the Car to the Company (together with all sets of keys, licenses and other documentation relating to the Car) on the last day of Employee’s employment with the Company (or earlier, as may be applicable under Section 15 below of this Appendix A). Employee shall not have any lien with respect to the Car or any document or property relating thereto. The provision of the Car use shall be in lieu of payment traveling expenses as required by applicable law.
(f) The current procedure related to the leased Car is described in Appendix A, attached hereto. The annual travel kilometer allocation shall be 40,000 kilometer.
(g) The Employee hereby irrevocably authorizes the Company to set off and deduct all amounts that he may be owed to the Company under this subsection 8.6 and under Appendix A against any and all amounts due to him from the Company under this Agreement.
(h) The Employee shall return the Car (together with its keys and any other equipment supplied and/or installed therein by Company) to the Company upon termination of his employment with Company. The Employee shall have no rights of lien with respect to Company Car and/or any travel allowanceother equipment relating thereto as above mentioned.
(i) The employee can waive this benefit and will be compensated in his salary according to the Company’s procedures.
Appears in 1 contract
Samples: Personal Employment Agreement (Ormat Technologies, Inc.)
Car. If at any time hereafter Employee elects, by way of a written notice to the Company, to receive a car in lieu of the travel allowance otherwise provided to him in accordance with Section 15 below of this Appendix A, then as soon as practicable thereafter the 7.1 The Company shall make available to Employee provide the Executive with a leased fully expensed lease motor car of a make and size to be determined by the Employee (the “Car”) and subject to the terms belowmodel commensurate, in lieu the reasonable opinion of paying to Employee a travel allowance in accordance the Board, with Section 15 below of this Appendix A, her position for her business and in such case, the following terms shall apply: personal use.
7.2 The Company shall bear the following costs cost of the Car: purchase or lease costs (up to NIS 4,500 per month)insuring, governmental licensestesting, insurancetaxing, gasoline, toll road fees, ongoing maintenance repairs expensesrepairing, and no other cost or expense. All other costs and expenses relating to the Car, including without limitation purchase or maintaining such full expensed lease costs car.
7.3 The Executive shall:
(above such NIS 4,500 per month), tickets, fines of any kind, deductibles payable under any insurance policy in connection with damages, and any damages not covered by insurance policy, shall be borne and paid solely by Employee (the Company shall be entitled to deduct from the Salary or from any other payment due to Employee, and Employee shall indemnify and/or reimburse Company for, all costs and expenses, if any, incurred by the Company in connection with the foregoing, promptly after they were paid by the Company). Employee shall bear all taxes (including income tax and social security payments) in connection with the Car and the use thereof, in accordance with applicable law and regulations, and shall be entitled to a gross-up of any and all taxes imposed in connection with the receipt and use of such Car. Employee shall: (iA) take good care of the Car car, including arranging for its maintenance and ensure procure that the terms provisions and conditions of the any policy of insurance policies, the lease agreement and Company’s policies relating to the Car car are strictly, lawfully observed; and
(B) comply with any reasonable directions and carefully observed (including terms regulations of the Company for the time being in force relating to safeguarding of the Car); company cars;
(iiC) use return the Car in accordance with car, its keys and all associated documentation to the Company’s registered office immediately upon the termination for whatever reason of her employment under this Agreement (or at any other reasonable time, if so requested, for the purposes of inspection and/or maintenance). The Company shall be entitled to withhold any sums owing to the Executive on the termination of his employment until this obligation is complied with and if the Executive does not comply immediately with this clause she shall be required to account to the Company for any resulting losses;
(D) not do anything which would or might void of prejudice any policy as of insurance or hire/rental/leasing agreement taken out by the Company in effect from time respect of the Executive or the Car and shall promptly inform the Company of any matter which may need to timebe reported to the insurer (including without limitation if she loses her driver’s license and/or if she is involved in a road traffic accident, however minor and regardless of fault); and and
(iiiE) be responsible for any fines incurred for motoring offences.
7.4 If the Executive loses her driver’s license, for whatever reason, or otherwise becomes unable legally to drive, the Executive shall promptly return the Car to the Company (together with all sets of keys, licenses keys and other documentation relating associated documentation) to the Car) on the last day of EmployeeCompany’s employment with registered office and the Company shall have no obligation to provide the Executive with any company car nor any car allowance (or earlier, as may be applicable under Section 15 below of this Appendix A). Employee shall not have any lien with respect to the Car or any document or property relating thereto. The provision of the Car shall be payment in lieu of payment by this provision) for the Company duration of her inability to Employee of any travel allowancedrive legally.
Appears in 1 contract