Common use of Insurance and Social Benefits Clause in Contracts

Insurance and Social Benefits. The Company will insure the Employee under a "Manager's Insurance Scheme" (the "Insurance Scheme") as follows: (i) the Company will pay an amount equal to 5% (five percent) of the Salary towards a fund for life insurance and pension; (ii) the Company will pay an amount of up to 2.5% (two percent and one half of a percent) of the Salary for a fund for the event of loss of working ability ("Ovdan Kosher Avoda") provided however that in the event that the Company shall pay less then 2.5% for "Ovdan Kosher Avoda", the balance (up to 2.5%) shall be paid as a benefit to the Employee; and (iii) the Company will pay an amount equal to 8 1/3% (eight percent and one third of a percent) of the Salary towards a fund for severance compensation (the "Company’s Severance Contribution"). Similarly, at the beginning of each month the Company shall deduct from the Salary an amount equal to 5% of the Salary for the preceding month, and shall pay such amount as premium payable in respect of the provident compensation component of the Insurance Scheme. Additionally, the Company together with the Employee will maintain an advanced study fund ("Keren Hishtalmut") and the Employee and the Company shall contribute to such fund an amount equal to 2.5% (two percent and one half of a percent) of the Salary and 7.5% (seven percent and one half of a percent) of the Salary, respectively. All of the Employee's aforementioned contributions shall be transferred to the above referred to plans and funds by the Company by deducting such amounts from each monthly Salary payment.

Insurance and Social Benefits. (a) The Company will insure the Employee Executive under a "Manager's Insurance Scheme" (the "Insurance Scheme") as follows: and the Company will contribute each month for the preceding month, (i) the Company will pay an amount equal to 5% (five percent) of the Salary towards a fund for life insurance and pension; (ii) the Company will pay an amount of up to 2.5% (two percent and one half of a percent) of the Salary for a fund for the event of loss of working ability ("Ovdan Kosher Avoda") provided however that in the event that the Company shall pay less then 2.5% for "“Ovdan Kosher Avoda"”, the balance (up to 2.5%) shall be paid as a benefit to the EmployeeExecutive; and (iii) the Company will pay an amount equal to 8 1/3% (eight percent and one third of a percent) of the Salary towards a fund for severance compensation (the "“Company’s Severance Contribution"”). Similarly, at the beginning of each month month, the Company shall deduct from the Salary an amount equal to 5% of the Salary for the preceding month, and shall pay such amount as premium payable in respect of the provident compensation component of the Insurance Scheme. . (b) Additionally, the Company together with the Employee Executive will maintain an advanced study fund ("“Education Fund”) (Keren Hishtalmut") and for the Employee and Executive. At the end of each month during the employment of Executive hereunder, the Company shall contribute to such fund an amount equal to 7.5% (seven percent and one half of a percent) of the Salary (the "Company's Education Fund Contribution") and the Company shall deduct from the Salary an amount equal to 2.5% (two percent and one half of a percent) of the Salary and 7.5% (seven percent and one half of a percent) of shall pay the Salary, respectively. All of the Employee's aforementioned contributions shall be transferred same to the above referred Education Fund. Notwithstanding the provisions of this Section 11(b) to plans and funds the contrary, in the event that the amounts paid by the Company to the Education Fund exceed the maximum amount recognized for purpose of exemption from tax by deducting the Israeli tax authorities (the “Maximum Amount”), the Executive may, in lieu of deposit of such surplus amounts from each monthly Salary paymentinto the Education Fund, choose to have the Company pay to the Executive any amounts exceeding the Maximum Amount, subject to applicable taxes.