Common use of Insurance and Social Benefits Clause in Contracts

Insurance and Social Benefits. The Company will insure you under an "Manager's Insurance Scheme" to be selected by the Company in coordination with you; or if so requested by you under your existing "Manager's Insurance Scheme" (the "Insurance Scheme") as follows: (i) the Company will pay an amount equal to 5% of the Salary towards a fund for life insurance and pension, and shall deduct 5% from the Salary and pay such amount towards the Insurance Scheme for your benefit; (ii) the Company will pay an amount of up to 2.5% of the Salary towards a fund for the event of loss of working ability (Xxxxx Xxxxxx Xxxxx); and (iii) the Company will pay an amount equal to 8 1/3% of the Salary towards a fund for severance compensation. It is agreed that in case of termination of your employment under any circumstances other than For Cause by law, the Company shall have released to you the Insurance scheme including that portion of the Insurance Scheme paid towards a fund for severance compensation (sub-clause (iii) above), and the same shall constitute as part of the severance compensation to which you are entitled. The Company shall sign an automatic transfer deed waiving any right to withhold or prevent the transfer of the ownership of the Insurance Scheme to you other than for cause by law. The Company together with you will maintain an advanced study fund (Xxxxx Xxxxxxxxxx Fund) such that you and the Company shall contribute to such fund an amount equal to 2.5% and 7.5%, respectively. Your aforementioned contribution is to be transferred to such fund by the Company from each monthly Salary payment. ..

Insurance and Social Benefits. The Management Company will insure you under an "Manager's Insurance Scheme" to be selected by the Management Company in coordination with you; or if so requested by you under your existing "Manager's Insurance Scheme" (the "Insurance Scheme") as follows: (i) the Management Company will pay an amount equal to 5% of the Salary towards a fund for life insurance and pension, and shall deduct 5% from the Salary and pay such amount towards the Insurance Scheme for your benefit; (ii) the Management Company will pay an amount of up to 2.5% of the Salary towards a fund for the event of loss of working ability (Xxxxx Oxxxx Xxxxxx Xxxxx); and (iii) the Management Company will pay an amount equal to 8 1/3% of the Salary towards a fund for severance compensation. The Management Company together with you will maintain an advanced study fund (Kxxxx Xxxxxxxxxx Fund) such that you and the Management Company shall contribute to such fund an amount equal to 2.5% and 7.5%, respectively, up to the ceiling dictated by applicable laws. Your aforementioned contribution is to be transferred to such fund by the Management Company from each monthly Salary payment. It is agreed that in case of termination of your employment under any circumstances other than For Cause by lawCause, the Management Company shall have released to you the Insurance scheme including that portion of the Insurance Scheme paid towards a fund for severance compensation (sub-clause (iii) above), and the same shall constitute as part of the severance compensation to which you are entitled. The Company shall sign an automatic transfer deed waiving any right to withhold or prevent the transfer of the ownership of the Insurance Scheme to you other than for cause by law. The Company together with you will maintain an advanced study fund (Xxxxx Xxxxxxxxxx Fund) such that you and the Company shall contribute to such fund an amount equal to 2.5% and 7.5%, respectively. Your aforementioned contribution is to be transferred to such fund by the Company from each monthly Salary payment. ...