Consideration and Benefits. 6.1. In consideration for the fulfillment of all of the undertakings of the Service Provider in accordance with this agreement, the Company will pay the Service Provider consideration in the sum of ILS 10,000 (ten thousand new Israeli shekels), before VAT, for each calendar month of work, effective from the commencement of the engagement, as provided in Section 4.1 above, against a tax invoice to be issued by the Service Provider to the Company (the “Monthly Consideration”).
6.2. The parties agree that the dates of payment of the consideration will be by the 10th day of the month in each calendar month for the previous month, subject to the Service Provider having issued a lawful tax invoice to the Company.
6.3. It is hereby agreed and clarified beyond any doubt that the Service Provider will not be entitled to any payments, terms, benefits or rights, other than as explicitly stated in this agreement, in consideration for the rendering of the Service Provider’s Services to the Company.
6.4. It is further agreed that the Service Provider and/or the Service Provider’s Employee on its behalf will be entitled to a reimbursement of expenses and/or payments that were required in the context of the rendering of the Services by them to the Company, subject to the presentation of a tax invoice and/or receipts and their approval by the Company’s CEO, including fuel expenses when travelling in the context of the rendering of the Services up to the sum of ILS 750 and against the presentation of invoices.
6.5. It is agreed that subject to the CEO’s approval (also retroactively), the Company will bear the expenses entailed by the consultant’s overseas travel in the context of the rendering of the Services to the Company which shall have been incurred in relation to the performance of his role, including airline tickets, hotels, per diems, telephones and hospitality.
6.6. If the Service Provider is the central party involved in the raising of funds that are invested in the Company, the Service Provider will be entitled to a bonus in the sum of 5% of the investment amount. The bonus shall be paid proportionately to the amount of the payment, simultaneously and in accordance with the staggering of the investor’s payments, no later than 7 business days after the payment is made to the Company’s account.
Consideration and Benefits. 2.1. Section 6.1 of the main agreement shall be valid and the following paragraph shall be added: “Insofar as the company shall succeed to raise a sum of $1,000,000 (one million U.S. Dollars) the salary of the Service Provider shall increase so that the company shall pay for receiving the services from the Service Provider payment on a monthly basis of 40,000 NIS (forty thousand NIS), with additional lawful VAT per month against issuing an invoice (the “New Monthly Consideration”). The Service Provider is aware that it is not certain that the company shall succeed to raise this sum, and that insofar as the company shall not succeed to raise such sum, his salary shall remain as stipulated in the main agreement”.
Consideration and Benefits. 5.1. In consideration for providing the services and against fulfilling all of the undertakings of eh Service Provider in accordance with this agreement, the Company shall issue to the Service Provider 3% of the Company’s outstanding share capital as of the date of signing this agreement in other words, 1,831,586 options to purchase 1,831,586 ordinary shares of the Company without any par value, under the terms and in accordance with the current option plan of the Company, attached hereto as appendix A and in accordance with the option agreement that is attached hereto as appendix B.
5.2. The issue of options shall be performed in accordance and subject to the approvals required according to the law.
5.3. It is agreed by the parties that the consideration in section 5.1 above constitute full consideration for providing the services.
5.4. It is further agreed between the parties that except for the consideration mentioned in this section 5, the Service Provider shall not be entitled to receive from the Company and/or from any third party any additional benefit and/or wages and/or remuneration of any type and kind for providing the services pertaining to this agreement.
Consideration and Benefits. 7.1. In consideration for and subject to full compliance of the Service Provider with the provisions hereof, the Company will pay the Service Provider a fixed monthly payment in the amount of NIS 27,500 (Twenty seven thousand five hundred Israeli Shekels), plus lawful VAT, against a duly issued tax invoice (hereinafter: the “Monthly Payment”).
7.2. In addition, the consultant/Service Provider will be entitled to reimbursement of his expenses incurred in Israel and abroad in connection with the providing of the Services, in accordance with the Company’s expenses’ coverage procedure.
7.3. To the extent that for any reason during a certain period (including reserve military service days) no Services are provided by the Service Provider, a pro rata share of the Service Provider’s Monthly Payment will be set off, excluding an accumulated period of up to 22 days each year, which for the purposes of implementing this provision will not be taken into account. The Service Provider will report, once a month, of any leave of absence and the number of reserve military service days taking place during the month, excluding weekends.
7.4. The Monthly Payment will be paid by the 15th day of the month for the previous month and subject to the receipt of a duly issued tax invoice of the Service Provider.
Consideration and Benefits. In consideration for the Executive’s agreement to be bound by the terms of this Agreement, the Executive shall be entitled to receive from the Company the payments and severance benefits pursuant to Section 7(g), and as applicable the Severance Benefits as defined under Section 7(c), of the Executive’s Employment Agreement dated December 27, 2004 and as amended on January 31, 2005 (the “Employment Agreement”). Executive’s payments and benefits under the Employment Agreement set forth in subparagraphs (i) through (vi) of this Section 1(b).
(i) Company will pay the Executive a payment equal to (a) the Executive’s then current base salary and (b) the average of the last two cash bonuses paid to the Executive in twelve (12) equal monthly installments over a one year period from the Separation Date;
(ii) Reimburse the cost of outplacement counseling with the maximum cost to the Company not to exceed $25,000;
(iii) Maintain health benefits for the Executive and his dependents for twelve (12) months from the Separation Date or until Executive obtains full-time employment with an employer that provides comparable health coverage;
(iv) Continue the commutation allowance of $1,500 per month for the 12-month period from the Separation Date;
(v) Allow Executive to elect to make contributions to the Company’s 401k Plan for the 12-month period from the Separation Date, however, such contributions will not receive any Company matching contribution in effect at that time; and
(vi) Executive’s stock options and other awards under the Company’s stock option plans shall immediately vest and remain exercisable for the period of the lesser of (a) the original term of the stock option or (b) five years.
Consideration and Benefits. In consideration for the Employee’s obligations hereunder, and subject where applicable to the Company's Executive Compensation Recoupment policy (which shall remain in full force and effect), the Company shall provide the following consideration and benefits:
Consideration and Benefits. 2.1. Section 6.1 of the Main Agreement will be omitted and replaced with the text of the following section, as follows: “In consideration for the fulfillment of all of the undertakings of the Service Provider in accordance with this agreement, the Company will pay the Service Provider consideration in the sum of ILS 500 (five hundred new Israeli shekels), before VAT, for each calendar month of work, effective from May 1, 2015, against a tax invoice to be issued by the Service Provider to the Company (the “New Monthly Consideration”).”
Consideration and Benefits. In consideration for Executive’s obligations hereunder, including that Executive timely signs, returns, and does not revoke both the Agreement and the Appendix A/Supplemental Release, and abides by same, the Company shall provide Executive the following consideration and benefits which shall be in lieu of any payments and benefits under the JetBlue Airways Corporation Severance Plan (the “Severance Plan”), which are hereby expressly waived by Executive:
Consideration and Benefits. 5.1. In consideration for providing the services and fulfilling all of the undertakings of the Service Provider in accordance with this agreement, the Company shall grant to the Service Provider 1,903,796 options of the Company which are convertible into 1,903,796 shares of the Company according to an agreement to grant options that shall be signed by the parties at the same time of signing this agreement. The options shall be granted under the terms and in accordance with the current option plan of the Company, attached hereto as Appendix A and in accordance with the option agreement that is attached hereto as Appendix B.
5.2. The grant of options shall be performed in accordance and subject to the approvals required according to the law.
5.3. It is agreed that in addition to the grant of options the Service Provider shall be entitled to consideration as set forth hereafter:
5.3.1. The sum of 10,000 NIS gross for each of the months in which the Service Provider shall provide the services to the Company.
5.3.2. At the time when the Company shall complete an aggregate raising of capital in the sum of 5 million U.S. Dollars (such that the raising of capital shall be counted from the commencement of employment of the offeree/ Service Provider) the monthly consideration shall be raised to 15,000 NIS gross for each of the months in which the Service Provider shall provide the services to the Company.
5.3.3. At the time when the Company shall complete an aggregate raising of capital in the sum of 7.5 million U.S. Dollars (such that the raisinge of capital shall be counted from the commencement of employment of the offeree/ Service Provider) the monthly consideration shall be raised to 20,000 NIS gross for each of the months in which the Service Provider shall provide the services to the Company.
5.4. The parties declare and agree that the payment is total payment for all the hours that the Service Provider shall perform for the Company, including work hours beyond regular work hours of the Company, and that it is acceptable and agreed by the Service Provider that this number duly reflects the additional hours that he actually performs. The additional payment shall be paid in any event as part of the monthly salary.
5.5. In addition, the Service Provider shall be entitled to a refund of costs with respect to discussions in Israel (parking, hospitality if requested etc.). If the Company shall request that the Service Provider travel abroad, he shall be also entitl...
Consideration and Benefits. In consideration for Executive’s obligations hereunder, the Company shall provide Executive the following consideration and benefits:
(a) During the Advisory Period, Executive shall continue to be actively employed by the Company with duties to be mutually agreed upon by the parties, and will be paid his annual Base Salary of FOUR HUNDRED THIRTY FIVE THOUSAND DOLLARS ($435,000.00), less all applicable withholdings and deductions.
