General Approval. The following is the wording of the General Approval as published in Yalkut Pirsumim 4659 of June 30, 1978 (following amendment in Yalkut Pirsumim 4803 of August 23, 1999 and in Yalkut Pirsumim 4970 of March 12, 2001). By virtue of my authority pursuant to section 14 of the Severance Pay Law, 5723-1963, (hereinafter: the “Law”), I certify that payments made by the Employer as of the date of publication of this Certificate, for the Employee, into a comprehensive pension in an annuity fund which is not an insurance fund as defined in the Income Tax (Rules for Approval of and Management of Pension Funds) Regulations, 5724-1964 (hereinafter: a “Pension Fund”), or into an executive insurance policy which includes the ability to pay an annuity or a combination of payments into an annuity plan and a plan which is not an annuity plan, into such insurance fund (hereinafter: an “Insurance Fund”), including payments made by combining payments into a Pension Fund and an Insurance Fund, whether the Insurance Fund contains an annuity plan or not (hereinafter: “Employer Payments”) shall stand in lieu of the severance pay owing on the Salary out of which the aforesaid payments are made, and for the period paid (hereinafter: the “Severance Salary”), provided that all of the above exist:
Appears in 4 contracts
Samples: Employment Agreement, Employment Agreement (Quark Pharmaceuticals Inc), Employment Agreement (Quark Pharmaceuticals Inc)
