Common use of Manager’s Insurance/Pension Fund Clause in Contracts

Manager’s Insurance/Pension Fund. 8.1. The Company will insure the Employee under a “Manager’s Insurance Policy” (“Bituach Menahalim”) (“Policy”) or a Pension Fund (“Pension Fund”) to be selected by the Employee. At the end of each month during the employment of Employee, the Company shall pay an aggregate amount equal to 13.33% of the Salary for the preceding month to the Policy or 14.33% of the Salary for the preceding month to the Pension Fund (the “Company’s Contribution”), as follows: (a) 8.33% for severance pay component; and (b) for savings and risk component, either (i) in the case of a Policy, 5%, subject to deduction of 5% from the Salary by the Employee, as detailed below; or (ii) in the case of a Pension Fund, 6%, subject to deduction of 5.5% from the Salary, as detailed below. In addition, if the Employee shall elect a Policy, the Company shall pay up to 2.5% of the Salary towards loss of working capacity disability insurance (depending on the cost to the Company necessary to provide coverage) to be purchased by the Company. The Employee agrees that the Company shall deduct from the Salary an amount equal to 5% or 5.5% of the Salary for the preceding month, and shall pay such amount as premium payable in respect for savings and risk component of the Policy or the Pension Fund, as the case may be (the “Employee’s Contributions”). If the Employee elects to be insured under a combination of the Policy and Pension Plan, the Employee may determine the allocation between the two, provided that, in any event the Company’s contributions will not exceed the maximum amounts set forth above. 8.2. The appointment of the insurance agent for the Policy and/or Pension Fund (as applicable)will be in the sole discretion of the Company. 8.3. The Company undertakes to transfer the Policy and/or Pension Fund (as applicable) to the Employee after termination of the Employee’s employment with the Company, whether terminated by the Company or the Employee. Notwithstanding the above, in the event that the Employee’s employment is terminated with “Cause” as defined in Section ‎18 hereto or if the Employee fails to comply with any of the Employee’s obligations to the Company, the Company will not be obliged to release to the Employee the Company’s Contributions. 8.4. The Company’s Contributions will be in lieu of the severance pay that the Employee will be entitled to (if entitled) in the event of termination of the Employee’s employment, all in accordance with the provisions of section 14 of the Severance Pay Law, 5723-1963. The Employee’s signature on this Agreement represents the Employee’s agreement to the content of this Section. The Company waives in advance any right it may have in the future for the return of the Company’s Contributions, or any of them, unless: 8.4.1. The Employee’s entitlement for severance pay has been deprived by a judgment, under the provisions of sections 16 or 17 of the Severance Pay Law, 5723-1963, and as long as it was so deprived; or 8.4.2. The Employee has withdrawn monies from the Policy and/or Pension Fund (as applicable)not in circumstances of death, disability or retirement at the age of 60 or more. A copy of the Order and Confirmation Regarding Payments of Employers to Pension Funds and Insurance Funds instead of Severance Pay is attached as Schedule ‎‎8.4 to this Agreement. 8.5. The Company’s Contribution to the Policy shall be calculated solely based on the Salary, and the Employee’s entitlement to severance pay, if any, shall be calculated solely based on the Salary and no other payment, right or benefit to which the Employee is entitled under this Agreement or by law shall be taken into account in such calculations.

Manager’s Insurance/Pension Fund. 8.1. The 2.1 After three months retroactive to the first day of employment, the Company will insure allocate to a managers’ insurance policy or a pension fund (individually and collectively in this clause referred to as the Employee under a “Manager’s Insurance Policy” (“Bituach Menahalim”) (“Policy”) ), or a Pension Fund combination of both (“Pension Fund”) to be selected by the Employee. At the end of whereby each month during the employment of Employeewill apply partially), the Company shall pay an aggregate following: 2.1.1 An amount equal to 13.336.0% of the Salary which shall be allocated to a fund for the preceding month severance pay, and an additional amount equal to the Policy or 14.336.5% of the Salary for which shall be allocated to a provident fund including disability insurance and life/survivors insurance. 2.1.2 In addition, the preceding month Company will deduct from the Salary an amount equal to 6% of the Salary, which shall constitute Employee’s contribution to the Pension Fund provident fund (the “Company’s ContributionEmployee Participation”). Company: 2.2 It is hereby clarified, as follows: (a) 8.33% that the payments made by the Company, pursuant to the allocations set forth above, are intended to comply with applicable law, including the obligation to allocate funds for severance pay component; disability and (b) for savings survivors insurance. The Company advises the Employee to receive professional advice on the election of a pension plan. In case the Employee elects to be insured under a plan which does not include a disability and risk survivors insurance component, either (i) in the case Employee hereby releases and discharges the Company from any responsibility or liability arising of his said election. 2.2.1 If the Employee does not notify the company of his choice of a Policy, 5%, subject to deduction pension fund or managers insurance policy within 30 days of 5% from the Salary by the Employee, as detailed below; or (ii) in the case of a Pension Fund, 6%, subject to deduction of 5.5% from the Salary, as detailed below. In addition, if the Employee shall elect a PolicyCommencement Date, the Company shall pay up to 2.5% of will insure Employee in a default Policy and the Salary towards loss of working capacity disability insurance (depending on the cost to the Company necessary to provide coverage) to be purchased by the Company. Employee will not have any claim about it. 2.2.2 The Employee agrees that the Company shall deduct from the Salary an the amount equal to 5% or 5.5% of specified as Employee Participation as set above. 2.2.3 In the Salary for the preceding month, and shall pay such amount as premium payable in respect for savings and risk component of the Policy or the Pension Fund, as the case may be (the “Employee’s Contributions”). If event the Employee elects to be insured under a combination of the Policy and Pension Plan, the Employee may determine the allocation between the two, provided that, in any event the Company’s contributions will not exceed the maximum amounts set forth above. 8.2. The appointment of the insurance agent for the Policy and/or Pension Fund (as applicable)will be in the sole discretion of the Company. 8.3. 2.3 The Company undertakes to transfer the Policy and/or Pension Fund (as applicable) to the and Employee after termination of the Employee’s employment with the Company, whether terminated by the Company or the Employee. Notwithstanding the above, in the event agree and acknowledge that the Employee’s employment is terminated with “Cause” as defined in Section ‎18 hereto or if the Employee fails to comply with any of the Employee’s obligations to the Company, the Company will not be obliged to release to the Employee the Company’s Contributions. 8.4. The Company’s Contributions will be in lieu of severance contribution to the severance pay that the Employee will be entitled to (if entitled) in the event of termination of the Employee’s employment, all Policy in accordance with Section ‎2.1.1 above, shall, provided contribution is made in full, be instead of severance payment to which the provisions of section Employee (or his or her beneficiaries) is entitled with respect to the Salary upon which such contributions were made and for the period in which they were made (the “Exempt Salary”), pursuant to Section 14 of the Severance Pay Law, Law 5723-19631963 (the “Severance Pay Law”). The Employee’s signature on this Agreement represents parties hereby adopt the Employee’s agreement to General Approval of the content Minister of this Section. Labor and Welfare, which is attached hereto as Appendix I. The Company waives in advance hereby forfeits any right it may have in the future for reimbursement of sums paid by the return of Company into the Company’s ContributionsPolicy or Pension Plan, or any of them, unless: 8.4.1. The Employee’s entitlement for severance pay has been deprived by a judgment, under except: (i) in the provisions of sections 16 or 17 of the Severance Pay Law, 5723-1963, and as long as it was so deprived; or 8.4.2. The event that Employee has withdrawn monies withdraws such sums from the Policy and/or or Pension Fund (as applicable)not Plan, other than in circumstances the event of death, disability or retirement at the age of 60 or more. A copy ; or (ii) upon the occurrence of any of the Order events provided for in Sections 16 and Confirmation Regarding Payments 17 of Employers to Pension Funds and Insurance Funds instead of the Severance Pay is attached as Schedule ‎‎8.4 to Law. Nothing in this Agreement. 8.5. The Company’s Contribution to the Policy Agreement shall be calculated solely based on the Salary, and derogate from the Employee’s entitlement rights to severance pay, if any, shall be calculated solely based on payment in accordance with the Salary and no Severance Pay Law or agreement or expansion order in connection with remuneration other payment, right or benefit to which than the Employee is entitled under this Agreement or by law shall be taken into account in such calculationsSalary.

Manager’s Insurance/Pension Fund. 8.16.1. The Company will insure shall comply with the provisions of the "Expansion Order of extensive pension" (the "Order"), with respect to Company and Employee under a “Manager’s Insurance Policy” (“Bituach Menahalim”) (“Policy”) or a Pension Fund contributions to pension fund and severance pay (“Pension FundPlan”) to be selected as required by the EmployeeOrder. At The contributions to the end of each month during Pension Plan shall be as follows: The contributions to the employment of Employee, Pension Plan shall be as follows: (a) In the event that the Employee selects manager’s insurance: (i) The Company shall pay into the manager’s insurance policy an aggregate amount equal to 13.336.5% of the Employee’s Salary on account of pension fund payment (Tagmulim) under the manager’s insurance policy. Such contribution includes contribution to a disability insurance policy on the Employee’s behalf which would insure 75% of the Salary. To the extent necessary, such amount shall be increased to a total maximum of 7.5% of the Salary if such increase is required for purchasing a disability insurance policy insuring 75% of the Salary, provided that Company’s payment to Tagmulim shall not be less than 5% of the Salary; (ii) The Company shall deduct 6% from the Salary on behalf of the Employee and shall transfer such amount to the manager’s insurance policy on account of pension fund payment (Tagmulim) under the manager’s insurance policy; (iii) The Company shall pay into the managers’ insurance policy 8.33% of the Salary for severance pay (Pituzei Piturim). (b) In the preceding month event that the Employee selects a pension fund: (i) The Company shall pay a sum equal to 6.5% of the Employee’s Salary on account of pension fund payment (Tagmulim). (ii) The Company shall deduct 6% of the Salary on behalf of the Employee and shall transfer such amount to the Policy or 14.33pension fund as the Employee’s share of the pension fund payment (Tagmulim); (iii) The Company shall pay 8.33% of the Salary for the preceding month to the Pension Fund (the “Company’s Contribution”), as follows: (a) 8.33% for severance pay component; (Pituzei Piturim) into the pension fund. 6.2. The Employee shall be entitled to elect to have the Company make the payments and (b) deductions set forth above to a manager’s insurance policy for savings and risk component, either (i) in the case part of a Policy, 5%, subject to deduction of 5% from the Salary by and to a pension fund for the Employeeremainder of the Salary, and under such circumstances the provisions of Section 6.1 shall apply pro rata to such parts of the Salary as detailed below; or (ii) if they were the whole salary. 6.3. All the payments and deductions set forth in the case of a Pension Fund, 6%, subject to deduction of 5.5% from this Section shall be based upon the Salary, as detailed belowdefined above, in accordance with its amount from time to time, and under no circumstances, shall the payments and deduction set forth in this Section be made with respect to an amount in excess of the Employee’s total Salary. 6.4. The Parties hereby declare and agree that the pension arrangement in accordance with this clause constitutes a “beneficial arrangement” for the purpose of the Extension Order (Combined Version) for Mandatory Pension under the Collective Agreements Law, 5717-1957 (the “Pension Extension Order”), and the Company shall not be under any obligation to provide any pension arrangement as provided in the Pension Extension Order other than as provided under this Section 6. 6.5. In additionaccordance with Section 9 of the Order, if Company’s contributions to severance pay as aforementioned shall be in lieu of payment of severance pay, pursuant to Section 14 of the Employee shall elect a PolicySeverance Pay Law. 6.6. Other than in events in which the Company is entitled to withhold the Pension Plan under the Pension Extension Order, the Company shall pay up to 2.5% of automatically transfer the Salary towards loss of working capacity disability insurance (depending on the cost Pension Plan to the Company necessary Employee, subject to provide coverage) to be purchased by any applicable law, upon the Company. The Employee agrees that the Company shall deduct from the Salary an amount equal to 5% or 5.5% of the Salary for the preceding month, and shall pay such amount as premium payable in respect for savings and risk component of the Policy or the Pension Fund, as the case may be (the “Employee’s Contributions”). If the Employee elects to be insured under a combination of the Policy and Pension Plan, the Employee may determine the allocation between the two, provided that, in any event the Company’s contributions will not exceed the maximum amounts set forth above. 8.2. The appointment of the insurance agent for the Policy and/or Pension Fund (as applicable)will be in the sole discretion of the Company. 8.3. The Company undertakes to transfer the Policy and/or Pension Fund (as applicable) to the Employee after termination of the Employee’s employment with the Company, whether terminated by the Company or the Employee. Notwithstanding the above, in the event that the Employee’s employment is terminated with “Cause” as defined in Section ‎18 hereto or if the Employee fails to comply with any of the Employee’s obligations to the Company, the Company will not be obliged to release to the Employee the Company’s Contributionseither party. 8.46.7. The Company’s Contributions will be in lieu of the severance pay that the Employee will be entitled to (if entitled) in the event of termination of the Employee’s employment, all in accordance with the provisions of section 14 of the Severance Pay Law, 5723-1963. The Employee’s signature on this Agreement represents the Employee’s agreement to the content of this Section. The Company waives in advance any right it may have in the future for the return of the Company’s Contributions, or any of them, unless: 8.4.1. The Employee’s entitlement for severance pay has been deprived by a judgment, under the provisions of sections 16 or 17 of the Severance Pay Law, 5723-1963, and as long as it was so deprived; or 8.4.2. The Employee has withdrawn monies from the Policy and/or Pension Fund (as applicable)not in circumstances of death, disability or retirement at the age of 60 or more. A copy of the Order and Confirmation Regarding Payments of Employers to Pension Funds and Insurance Funds instead of Severance Pay is attached as Schedule ‎‎8.4 to this Agreement. 8.5. The Company’s Contribution to the Policy shall be calculated solely based on the Salary, and the Employee’s entitlement to severance pay, if any, pension contributions indicated in this section shall be calculated solely based on updated and amended according to the Salary and no other payment, right or benefit to which the Employee is entitled under this Agreement or by law shall be taken into account in such calculationsapplicable law.

Manager’s Insurance/Pension Fund. 8.19.1. The Company will insure the Employee under a “"Manager’s 's Insurance Policy” " (“"Bituach Menahalim”") (“"Policy”") or a Pension Fund (“"Pension Fund”") to be selected by the Employee. At the end of each month during the employment of Employee, the Company shall pay an aggregate amount equal to 13.33% of the Salary for the preceding month to the Policy or 14.33% of the Salary for the preceding month to the Pension Fund (the “"Company’s 's Contribution”"), as follows: (a%5) 8.33% for severance pay component; and (b%5) for savings and risk component, either (i%6) in the case of a Policy, 5%, subject to deduction of 5% from the Salary by the Employee, as detailed below; or (ii%6) in the case of a Pension Fund, 6%, subject to deduction of 5.5% from the Salary, as detailed below. In addition, if the Employee shall elect a Policy, the Company shall pay up to 2.5% of the Salary towards loss of working capacity disability insurance (depending on the cost to the Company necessary to provide coverage) to be purchased by the Company. The Employee agrees that the Company shall deduct from the Salary an amount equal to 5% or 5.5% of the Salary for the preceding month, and shall pay such amount as premium payable in respect for savings and risk component of the Policy or the Pension Fund, as the case may be (the “Employee’s Contributions”). If the Employee elects to be insured under a combination of the Policy and Pension Plan, the Employee may determine the allocation between the two, provided that, in any event the Company’s 's contributions will not exceed the maximum amounts set forth above. 8.29.2. The appointment of the insurance agent for the Policy and/or Pension Fund (as applicable)will be in the sole discretion of the Company. 8.39.3. The Company undertakes to transfer the Policy and/or Pension Fund (as applicable) to the Employee after termination of the Employee’s employment with the Company, whether terminated by the Company or the Employee. Notwithstanding the above, in the event that the Employee’s employment is terminated with “Cause” as defined in Section ‎18 ‎19 hereto or if the Employee fails to comply with any of the Employee’s 's obligations to the Company, the Company will not be obliged to release to the Employee the Company’s Contributions. 8.49.4. The Company’s Contributions will be in lieu of the severance pay that the Employee will be entitled to (if entitled) in the event of termination of the Employee’s 's employment, all in accordance with the provisions of section 14 of the Severance Pay Law, 5723-1963. The Employee’s signature on this Agreement represents the Employee’s agreement to the content of this Section. The Company waives in advance any right it may have in the future for the return of the Company’s Contributions, or any of them, unless: 8.4.19.4.1. The Employee’s entitlement for severance pay has been deprived by a judgment, under the provisions of sections 16 or 17 of the Severance Pay Law, 5723-1963, and as long as it was so deprived; or 8.4.29.4.2. The Employee has withdrawn monies from the Policy and/or Pension Fund (as applicable)not in circumstances of death, disability or retirement at the age of 60 or more. A copy of the Order and Confirmation Regarding Payments of Employers to Pension Funds and Insurance Funds instead of Severance Pay is attached as Schedule ‎‎8.4 ‎‎9.4 to this Agreement. 8.59.5. The Company’s 's Contribution to the Policy shall be calculated solely based on the Salary, and the Employee’s 's entitlement to severance pay, if any, shall be calculated solely based on the Salary and no other payment, right or benefit to which the Employee is entitled under this Agreement or by law shall be taken into account in such calculations.

Manager’s Insurance/Pension Fund. 8.1. 2.1 The Company will insure allocate to a managers’ insurance policy or a pension fund (individually and collectively in this clause referred to as the Employee under a “Manager’s Insurance Policy” (“Bituach Menahalim”) (“Policy”) ), or a Pension Fund combination of both (whereby each will apply partially), the following: 2.1.1 An amount equal to 8.33% of the Salary which shall be allocated to a fund for severance pay, and an additional amount equal to 6.5% of the Salary which shall be allocated to a provident fund including disability insurance and life/survivors insurance. 2.1.2 In addition, the Company will deduct from the Salary an amount equal to 6% of the Salary, which shall constitute Employee’s contribution to the provident fund (the “Pension FundEmployee Participation”). 2.2 In case the Employee chooses a managers’ insurance policy (and not a pension fund), and if, due to Employee’s personal reasons, an allocation of 1.5% (from the above 6.5% allocated to the pension savings component) shall not be sufficient for purchasing disability insurance to be selected by cover 75% of the Employee. At the end of each month during the employment of EmployeeSalary, the Company shall pay contribute an aggregate amount equal to 13.33additional allocation that shall be no more than 1% of the Salary for the preceding month to the Policy or 14.33% of the Salary for the preceding month to the Pension Fund (the “Company’s Contribution”), as follows: (a) 8.33% for severance pay component; and (b) for savings and risk component, either (i) in the case of a Policy, 5%, subject to deduction of 5% from the Salary by the Employee, as detailed below; or (ii) in the case of a Pension Fund, 6%, subject to deduction of 5.5% from the Salary, as detailed below. In addition, if the Employee shall elect a Policysuch case, the Company shall pay up to disability cost will not exceed 2.5% of the Salary towards loss of working capacity disability insurance (depending on Salary, so that Company’s provident contributions shall be no less than 5%, and together- no more than 7.5%. 2.3 It is hereby clarified, that the cost to the Company necessary to provide coverage) to be purchased payments made by the Company, pursuant to the allocations set forth above, are intended to comply with applicable law, including the obligation to allocate funds for disability and survivors insurance. The Company advises the Employee to receive professional advice on the election of a pension plan. In case the Employee elects to be insured under a plan which does not include a disability and survivors insurance component, the Employee hereby releases and discharges the Company from any responsibility or liability arising of his said election. Employee: ______________________________________Company: ______________________________________ 2.4 The Employee will notify the company of his choice of a pension fund or managers insurance policy within 30 days of the Commencement Date. The Employee agrees that the Company shall deduct from the Salary an the amount equal to 5% or 5.5% of specified as Employee Participation as set above. In the Salary for the preceding month, and shall pay such amount as premium payable in respect for savings and risk component of the Policy or the Pension Fund, as the case may be (the “Employee’s Contributions”). If event the Employee elects to be insured under a combination of the Policy and Pension Plan, the Employee may determine the allocation between the two, provided that, in any event the Company’s contributions will not exceed the maximum amounts set forth above. 8.2. The appointment of the insurance agent for the Policy and/or Pension Fund (as applicable)will be in the sole discretion of the Company. 8.3. 2.5 The Company undertakes to transfer the Policy and/or Pension Fund (as applicable) to the and Employee after termination of the Employee’s employment with the Company, whether terminated by the Company or the Employee. Notwithstanding the above, in the event agree and acknowledge that the Employee’s employment is terminated with “Cause” as defined in Section ‎18 hereto or if the Employee fails to comply with any of the Employee’s obligations to the Company, the Company will not be obliged to release to the Employee the Company’s Contributions. 8.4. The Company’s Contributions will be in lieu of severance ccontribution to the severance pay that the Employee will be entitled to (if entitled) in the event of termination of the Employee’s employment, all Policy in accordance with Section ‎2.1.1 above, shall, provided contribution is made in full, be instead of severance payment to which the provisions of section Employee (or his or her beneficiaries) is entitled with respect to the Salary upon which such contributions were made and for the period in which they were made (the “Exempt Salary”), pursuant to Section 14 of the Severance Pay Law, Law 5723-19631963 (the “Severance Pay Law”). The Employee’s signature on this Agreement represents parties hereby adopt the Employee’s agreement to General Approval of the content Minister of this Section. Labor and Welfare, which is attached hereto as Appendix I. The Company waives in advance hereby forfeits any right it may have in the future for reimbursement of sums paid by the return of Company into the Company’s ContributionsPolicy or Pension Plan, or any of them, unless: 8.4.1. The Employee’s entitlement for severance pay has been deprived by a judgment, under except: (i) in the provisions of sections 16 or 17 of the Severance Pay Law, 5723-1963, and as long as it was so deprived; or 8.4.2. The event that Employee has withdrawn monies withdraws such sums from the Policy and/or or Pension Fund (as applicable)not Plan, other than in circumstances the event of death, disability or retirement at the age of 60 or more. A copy ; or (ii) upon the occurrence of any of the Order events provided for in Sections 16 and Confirmation Regarding Payments 17 of Employers to Pension Funds and Insurance Funds instead of the Severance Pay is attached as Schedule ‎‎8.4 to Law. Nothing in this Agreement. 8.5. The Company’s Contribution to the Policy Agreement shall be calculated solely based on the Salary, and derogate from the Employee’s entitlement rights to severance pay, if any, shall be calculated solely based on payment in accordance with the Salary and no Severance Pay Law or agreement or expansion order in connection with remuneration other payment, right or benefit to which than the Employee is entitled under this Agreement or by law shall be taken into account in such calculationsSalary.

Manager’s Insurance/Pension Fund. 8.1. The Company will insure the Employee under a “"Manager’s 's Insurance Policy” " (“"Bituach Menahalim”") (“"Policy”") or a Pension Fund (“"Pension Fund”") to be selected by the Employee. At the end of each month during the employment of Employee, the Company shall pay an aggregate amount equal to 13.3314.833% of the Salary for the preceding month to the Policy or 14.33% of the Salary for the preceding month to the Pension Fund (the “"Company’s 's Contribution”"), as follows: (ac) 8.33% for severance pay component; and (bd) for savings and risk component, either (i) in the case of a Policy, 56.5%, subject to deduction of 56% from the Salary by the Employee, as detailed below; or (ii) in the case of a Pension Fund, 66.5%, subject to deduction of 5.56% from the Salary, as detailed below. In addition, if the Employee shall elect a Policy, the Company shall pay up to 2.5% of the Salary towards loss of working capacity disability insurance (depending on the cost to the Company necessary to provide coverage) to be purchased by the CompanyCompany and up to 7.5% in total for Policy and working capacity disability insurance. The Employee agrees that the Company shall deduct from the Salary an amount equal to 5% or 5.56% of the Salary for the preceding month, and shall pay such amount as premium payable in respect for savings and risk component of the Policy or the Pension Fund, as the case may be (the “Employee’s Contributions”). If the Employee elects to be insured under a combination of the Policy and Pension Plan, the Employee may determine the allocation between the two, provided that, in any event the Company’s 's contributions will not exceed the maximum amounts set forth above. 8.2. The appointment of the insurance agent for the Policy and/or Pension Fund (as applicable)will applicable) will be in the sole discretion of recommended by the Company. 8.3. The Company undertakes to transfer the Policy and/or Pension Fund (as applicable) to the Employee after termination of the Employee’s employment with the Company, whether terminated by the Company or the Employee. Notwithstanding the above, in the event that the Employee’s employment is terminated with “Cause” as defined in Section ‎18 (3)(f) hereto or if the Employee fails to comply with any of the Employee’s 's obligations to the Company, the Company will not be obliged to release to the Employee the Company’s Contributions. 8.4. The Company’s Contributions will be in lieu of the severance pay that the Employee will be entitled to (if entitled) in the event of termination of the Employee’s 's employment, all in accordance with the provisions of section 14 of the Severance Pay Law, 5723-1963. The Employee’s signature on this Agreement represents the Employee’s agreement to the content of this Section. The Company waives in advance any right it may have in the future for the return of the Company’s Contributions, or any of them, unless: 8.4.1. The Employee’s entitlement for severance pay has been deprived by a judgment, under the provisions of sections 16 or 17 of the Severance Pay Law, 5723-1963, and as long as it was so deprived; or 8.4.2. The Employee has withdrawn monies from the Policy and/or Pension Fund (as applicable)not applicable) not in circumstances of death, disability or retirement at the age of 60 or more. A copy of the Order and Confirmation Regarding Payments of Employers to Pension Funds and Insurance Funds instead of Severance Pay is attached as Schedule ‎‎8.4 0 to this Agreement. 8.5. The Company’s 's Contribution to the Policy shall be calculated solely based on the Salary, and the Employee’s 's entitlement to severance pay, if any, shall be calculated solely based on the Salary and no other payment, right or benefit to which the Employee is entitled under this Agreement or by law shall be taken into account in such calculations.

Manager’s Insurance/Pension Fund. 8.1. 2.1 The Company will insure allocate to a managers’ insurance policy or a pension fund (individually and collectively in this clause referred to as the Employee under a “Manager’s Insurance Policy” (“Bituach Menahalim”) (“Policy”) ), or a Pension Fund combination of both (“Pension Fund”) to be selected by the Employee. At the end of whereby each month during the employment of Employeewill apply partially), the Company shall pay an aggregate following: 2.1.1 An amount equal to 13.338.33% of the Salary which shall be allocated to a fund for the preceding month severance pay, and an additional amount equal to the Policy or 14.336.5% of the Salary for which shall be allocated to a provident fund including disability insurance and life/survivors insurance. 2.1.2 In addition, the preceding month Company will deduct from the Salary an amount equal to 6% of the Salary, which shall constitute Employee’s contribution to the Pension Fund provident fund (the “Company’s ContributionEmployee Participation”). Company:____________________________ 2.2 It is hereby clarified, as follows: (a) 8.33% that the payments made by the Company, pursuant to the allocations set forth above, are intended to comply with applicable law, including the obligation to allocate funds for severance pay component; disability and (b) for savings survivors insurance. The Company advises the Employee to receive professional advice on the election of a pension plan. In case the Employee elects to be insured under a plan which does not include a disability and risk survivors insurance component, either (i) in the case Employee hereby releases and discharges the Company from any responsibility or liability arising of his said election. 2.2.1 If the Employee does not notify the company of his choice of a Policy, 5%, subject to deduction pension fund or managers insurance policy within 30 days of 5% from the Salary by the Employee, as detailed below; or (ii) in the case of a Pension Fund, 6%, subject to deduction of 5.5% from the Salary, as detailed below. In addition, if the Employee shall elect a PolicyCommencement Date, the Company shall pay up to 2.5% of will insure Employee in a default Policy and the Salary towards loss of working capacity disability insurance (depending on the cost to the Company necessary to provide coverage) to be purchased by the Company. Employee will not have any claim about it. 2.2.2 The Employee agrees that the Company shall deduct from the Salary an the amount equal to 5% or 5.5% of specified as Employee Participation as set above. 2.2.3 In the Salary for the preceding month, and shall pay such amount as premium payable in respect for savings and risk component of the Policy or the Pension Fund, as the case may be (the “Employee’s Contributions”). If event the Employee elects to be insured under a combination of the Policy and Pension Plan, the Employee may determine the allocation between the two, provided that, in any event the Company’s contributions will not exceed the maximum amounts set forth above. 8.2. The appointment of the insurance agent for the Policy and/or Pension Fund (as applicable)will be in the sole discretion of the Company. 8.3. 2.3 The Company undertakes to transfer the Policy and/or Pension Fund (as applicable) to the and Employee after termination of the Employee’s employment with the Company, whether terminated by the Company or the Employee. Notwithstanding the above, in the event agree and acknowledge that the Employee’s employment is terminated with “Cause” as defined in Section ‎18 hereto or if the Employee fails to comply with any of the Employee’s obligations to the Company, the Company will not be obliged to release to the Employee the Company’s Contributions. 8.4. The Company’s Contributions will be in lieu of severance contribution to the severance pay that the Employee will be entitled to (if entitled) in the event of termination of the Employee’s employment, all Policy in accordance with Section ‎2.1.1 above, shall, provided contribution is made in full, be instead of severance payment to which the provisions of section Employee (or his or her beneficiaries) is entitled with respect to the Salary upon which such contributions were made and for the period in which they were made (the “Exempt Salary”), pursuant to Section 14 of the Severance Pay Law, Law 5723-19631963 (the “Severance Pay Law”). The Employee’s signature on this Agreement represents parties hereby adopt the Employee’s agreement to General Approval of the content Minister of this Section. Labor and Welfare, which is attached hereto as Appendix I. The Company waives in advance hereby forfeits any right it may have in the future for reimbursement of sums paid by the return of Company into the Company’s ContributionsPolicy or Pension Plan, or any of them, unless: 8.4.1. The Employee’s entitlement for severance pay has been deprived by a judgment, under except: (i) in the provisions of sections 16 or 17 of the Severance Pay Law, 5723-1963, and as long as it was so deprived; or 8.4.2. The event that Employee has withdrawn monies withdraws such sums from the Policy and/or or Pension Fund (as applicable)not Plan, other than in circumstances the event of death, disability or retirement at the age of 60 or more. A copy ; or (ii) upon the occurrence of any of the Order events provided for in Sections 16 and Confirmation Regarding Payments 17 of Employers to Pension Funds and Insurance Funds instead of the Severance Pay is attached as Schedule ‎‎8.4 to Law. Nothing in this Agreement. 8.5. The Company’s Contribution to the Policy Agreement shall be calculated solely based on the Salary, and derogate from the Employee’s entitlement rights to severance pay, if any, shall be calculated solely based on payment in accordance with the Salary and no Severance Pay Law or agreement or expansion order in connection with remuneration other payment, right or benefit to which than the Employee is entitled under this Agreement or by law shall be taken into account in such calculationsSalary.

Manager’s Insurance/Pension Fund. 8.16.1. The Company will insure shall comply with the provisions of the "Expansion Order of extensive pension" (the "Order"), with respect to Company and Employee under a “Manager’s Insurance Policy” (“Bituach Menahalim”) (“Policy”) or a Pension Fund contributions to pension fund and severance pay (“Pension FundPlan”) to be selected as required by the EmployeeOrder. At The contributions to the end of each month during Pension Plan shall be as follows: The contributions to the employment of Employee, Pension Plan shall be as follows: (a) In the event that the Employee selects manager’s insurance: (i) The Company shall pay into the manager’s insurance policy an aggregate amount equal to 13.336.5% of the Employee’s Salary on account of pension fund payment (Tagmulim) under the manager’s insurance policy. Such contribution includes contribution to a disability insurance policy on the Employee’s behalf which would insure 75% of the Salary. To the extent necessary, such amount shall be increased to a total maximum of 7.5% of the Salary if such increase is required for purchasing a disability insurance policy insuring 75% of the Salary, provided that Company’s payment to Tagmulim shall not be less than 5% of the Salary; (ii) The Company shall deduct 6% from the Salary on behalf of the Employee and shall transfer such amount to the manager’s insurance policy on account of pension fund payment (Tagmulim) under the manager’s insurance policy; (iii) The Company shall pay into the managers’ insurance policy 8.33% of the Salary for severance pay (Pituzei Piturim). (b) In the preceding month event that the Employee selects a pension fund: (i) The Company shall pay a sum equal to 6.5% of the Employee’s Salary on account of pension fund payment (Tagmulim). (ii) The Company shall deduct 6% of the Salary on behalf of the Employee and shall transfer such amount to the Policy or 14.33pension fund as the Employee’s share of the pension fund payment (Tagmulim); (iii) The Company shall pay 8.33% of the Salary for the preceding month to the Pension Fund (the “Company’s Contribution”), as follows: (a) 8.33% for severance pay component; (Pituzei Piturim) into the pension fund. 6.2. The Employee shall be entitled to elect to have the Company make the payments and (b) deductions set forth above to a manager’s insurance policy for savings and risk component, either (i) in the case part of a Policy, 5%, subject to deduction of 5% from the Salary by and to a pension fund for the Employeeremainder of the Salary, and under such circumstances the provisions of Section 6.1 shall apply pro rata to such parts of the Salary as detailed below; or (ii) if they were the whole salary. 6.3. All the payments and deductions set forth in the case of a Pension Fund, 6%, subject to deduction of 5.5% from this Section shall be based upon the Salary, as detailed belowdefined above, in accordance with its amount from time to time, and under no circumstances, shall the payments and deduction set forth in this Section be made with respect to an amount in excess of the Employee’s total Salary. 6.4. The Parties hereby declare and agree that the pension arrangement in accordance with this clause constitutes a “beneficial arrangement” for the purpose of the Extension Order (Combined Version) for Mandatory Pension under the Collective Agreements Law, 5717-1957 (the “Pension Extension Order”), and the Company shall not be under any obligation to provide any pension arrangement as provided in the Pension Extension Order other than as provided under this Section 6. 6.5. In additionaccordance with Section 9 of the Order, if Company’s contributions to severance pay as aforementioned shall be in lieu of payment of severance pay, pursuant to Section 14 of the Employee shall elect a PolicySeverance Pay Law. 6.6. Other than in events in which the Company is entitled to withhold the Pension Plan under the Pension Extension Order, the Company shall pay up to 2.5% of automatically transfer the Salary towards loss of working capacity disability insurance (depending on the cost Pension Plan to the Company necessary Employee, subject to provide coverage) to be purchased by any applicable law, upon the Company. The Employee agrees that the Company shall deduct from the Salary an amount equal to 5% or 5.5% of the Salary for the preceding month, and shall pay such amount as premium payable in respect for savings and risk component of the Policy or the Pension Fund, as the case may be (the “Employee’s Contributions”). If the Employee elects to be insured under a combination of the Policy and Pension Plan, the Employee may determine the allocation between the two, provided that, in any event the Company’s contributions will not exceed the maximum amounts set forth above. 8.2. The appointment of the insurance agent for the Policy and/or Pension Fund (as applicable)will be in the sole discretion of the Company. 8.3. The Company undertakes to transfer the Policy and/or Pension Fund (as applicable) to the Employee after termination of the Employee’s employment with the Company, whether terminated by the Company or the Employee. Notwithstanding the above, in the event that the Employee’s employment is terminated with “Cause” as defined in Section ‎18 hereto or if the Employee fails to comply with any of the Employee’s obligations to the Company, the Company will not be obliged to release to the Employee the Company’s Contributionseither party. 8.46.7. The Company’s Contributions will and the Employee’s pension contributions indicated in this section shall be updated and amended according to the applicable law. 6.8. Notwithstanding Section 6.5 herein, other than in lieu of events, as defined above as “Cause”, in which the severance pay that the Employee Company will be entitled to (if entitled) in withhold the event of termination of special severance payment herein, the Employee’s employment, all in accordance with Company shall pay the provisions of section Employee special severance payment beyond Section 14 of the Severance Pay Law, 5723-1963. The Employee’s signature on this Agreement represents the Employee’s agreement special severance payment will be calculated according to the content employee’s last monthly salary multiplied by number of this Sectionhis months of employment at the Company divided by twelve. The Company waives in advance any right it may have in special severance payment will be paid by releasing the future for the return of the Company’s Contributions, or any of them, unless: 8.4.1. The Employee’s entitlement for severance pay has been deprived by a judgment, amount accumulated under the provisions of sections 16 or 17 Section 14 of the Severance Pay Law, 5723-1963, and as long as it was so deprived; or 8.4.2. The Employee has withdrawn monies from the Policy and/or Pension Fund (as applicable)not in circumstances of death, disability or retirement Law at the age of 60 or more. A copy insurance company and /or any other severance payment funds in the name of the Order and Confirmation Regarding Payments of Employers to Pension Funds and Insurance Funds instead of Severance Pay is attached as Schedule ‎‎8.4 to this Agreement. 8.5. The Company’s Contribution Employee, plus, if needed, a completion according to the Policy shall be calculated solely based on the Salary, and the Employee’s entitlement to severance pay, if any, shall be calculated solely based on the Salary and no other payment, right or benefit to which the Employee is entitled under this Agreement or by law shall be taken into account in such calculationscalculation herein.

Manager’s Insurance/Pension Fund. 8.1. 5.1.1 The Company will insure and the Employee under a “Managershall maintain (or shall continue to maintain), according to the Employee’s preference, either: (i) A Managers Insurance Policy” (“Bituach Menahalim”) Policy (the “Policy”) or a Pension Fund (“Pension Fund”) to be selected by for the Employeebenefit of the Employee in the customary form. At the end of each month during the employment of EmployeeIn such event, the Company shall pay pay, on a monthly basis, premiums on the Policy in an aggregate amount equal to 13.33131/3% of the Salary, and an additional amount of up to 21/2% of the Salary for the preceding month to the Policy or 14.33% in respect of the Salary for the preceding month to the Pension Fund (the “Company’s Contribution”)disability coverage, as follows: (a) 8.33% for severance pay component; and (b) for savings and risk component, either (i) in the case of a Policy, 5%, subject to deduction of 5% from the Salary by the Employee, as detailed below; or (ii) in the case of a Pension Fund, 6%, subject to deduction of 5.5% from the Salary, as detailed below. In addition, if the Employee shall elect pay, on a Policymonthly basis, the Company shall pay up to 2.5% of the Salary towards loss of working capacity disability insurance (depending on the cost to the Company necessary to provide coverage) to be purchased by the Company. The Employee agrees that the Company shall deduct from the Salary an amount equal to 5% or 5.5of the Salary as premium on the Policy; such amount shall be deducted by the Company from the Salary and transferred to the insurance company; and/or (ii) A pension fund (the “Pension Fund”) for the benefit of the Employee in the customary form. In such event, the Company shall pay, on a monthly basis, an amount equals to 141/3% of the Salary for the preceding monthSalary, and the Employee shall pay make contributions to such Pension Fund, on a monthly basis, in an amount which equals to such a percentage of the Salary as shall be required by the applicable Pension Fund; such amount as premium payable in respect for savings shall be deducted by the Company from the Salary and risk component of the Policy or transferred to the Pension Fund, as the case may be (the “Employee’s Contributions”). If the Employee elects to be insured under a combination of the Policy and Pension Plan, the Employee may determine the allocation between the two, provided that, in any event the Company’s contributions will not exceed the maximum amounts set forth above. 8.2. 5.1.2 The appointment of the insurance agent for the Policy and/or Pension Fund (as applicable)will be in the sole discretion of the Company. 8.3. The Company undertakes to transfer the Policy and/or Pension Fund (as applicable) to the Employee after termination of the Employee’s employment with the Company, whether terminated agrees and acknowledges that payments by the Company or the Employee. Notwithstanding the aboveunder this Section shall be, in the event that the Employee’s employment is terminated with “Cause” commencing as defined in Section ‎18 hereto or if the Employee fails to comply with any of the Employee’s obligations to the Companydate hereof, the Company will not be obliged to release to the Employee the Company’s Contributions. 8.4. The Company’s Contributions will be in lieu of the Company's statutory obligation to pay severance pay that the Employee will be entitled to (if entitled) in the event of termination of the Employee’s employmentpay, all in accordance with the provisions of section Section 14 of the Severance Pay Law, 5723-1963. The Employee’s signature on this Agreement represents 1963 (the Employee’s agreement "Law") and the approval of the Minister of Labor and Welfare, as amended from time to time, in the content of this Section. form attached hereto as Exhibit A and constituting an integral part hereof. 5.1.3 The Company hereby waives in advance any right it may have to receive any amount paid by the Company on account of the Policy and/or the Pension Fund, except: (i) in the future for the return of the Company’s Contributions, or any of them, unless: 8.4.1. The event Employee’s entitlement for 's right to severance pay has been deprived by under a judgment, under the provisions of sections 16 or verdict according to Section 17 of the Severance Pay Law, 5723-1963, Law and as long as it was to the extent so deprived; or 8.4.2. The , or (ii) in case Employee has withdrawn monies from draws upon the Policy and/or the Pension Fund other than for an "Entitlement Event" ("Eruah Mezake" as applicable)not defined in circumstances of deathExhibit A), disability or retirement at the age of 60 or more. A copy in such cases (i) and (ii) those portions of the Order and Confirmation Regarding Payments of Employers Policy and/or the Pension Fund constituting the Company's 13 1/3% or 14 1/3% contributions, as applicable will be refunded to Pension Funds and Insurance Funds instead of Severance Pay is attached as Schedule ‎‎8.4 to this Agreementthe Company. 8.5. The Company’s Contribution 5.1.4 For avoidance of doubt, it is hereby declared that the commencement date of the payments made with respect to the Policy or the Pension Fund shall be calculated solely based on the Salary, and the Employee’s entitlement to severance pay, if any, shall be calculated solely based on the Salary and no other payment, right or benefit to which the Employee is entitled under this Agreement or as required by law shall be taken into account in such calculationslaw.

Manager’s Insurance/Pension Fund. 8.1. The Company will insure shall comply with the provisions of the "Expansion Order of extensive pension" (the "Order"), with respect to Company and Employee under a “Manager’s Insurance Policy” (“Bituach Menahalim”) (“Policy”) or a Pension Fund contributions to pension fund and severance pay (“Pension FundPlan”) to be selected as required by the EmployeeOrder. At The contributions to the end of each month during Pension Plan shall be as follows: The contributions to the employment of Employee, Pension Plan shall be as follows: (a) In the event that the Employee selects manager’s insurance: (i) The Company shall pay into the manager’s insurance policy an aggregate amount equal to 13.336.5% of the Employee’s Salary on account of pension fund payment (Tagmulim) under the manager’s insurance policy. Such contribution includes contribution to a disability insurance policy on the Employee’s behalf which would insure 75% of the Salary. To the extent necessary, such amount shall be increased to a total maximum of 7.5% of the Salary if such increase is required for purchasing a disability insurance policy insuring 75% of the Salary, provided that Company’s payment to Tagmulim shall not be less than 5% of the Salary; (ii) The Company shall deduct 6% from the Salary on behalf of the Employee and shall transfer such amount to the manager’s insurance policy on account of pension fund payment (Tagmulim) under the manager’s insurance policy; (iii) The Company shall pay into the managers’ insurance policy 8.33% of the Salary for severance pay (Pituzei Piturim). (b) In the preceding month event that the Employee selects a pension fund: (i) The Company shall pay a sum equal to 6.5% of the Employee’s Salary on account of pension fund payment (Tagmulim). (ii) The Company shall deduct 6% of the Salary on behalf of the Employee and shall transfer such amount to the Policy or 14.33pension fund as the Employee’s share of the pension fund payment (Tagmulim); (iii) The Company shall pay 8.33% of the Salary for the preceding month to the Pension Fund (the “Company’s Contribution”), as follows: (a) 8.33% for severance pay component; and (bPituzei Piturim) for savings and risk component, either (i) in into the case of a Policy, 5%, subject to deduction of 5% from the Salary by the Employee, as detailed below; or (ii) in the case of a Pension Fund, 6%, subject to deduction of 5.5% from the Salary, as detailed below. In addition, if the Employee shall elect a Policy, the Company shall pay up to 2.5% of the Salary towards loss of working capacity disability insurance (depending on the cost to the Company necessary to provide coverage) to be purchased by the Company. The Employee agrees that the Company shall deduct from the Salary an amount equal to 5% or 5.5% of the Salary for the preceding month, and shall pay such amount as premium payable in respect for savings and risk component of the Policy or the Pension Fund, as the case may be (the “Employee’s Contributions”). If the Employee elects to be insured under a combination of the Policy and Pension Plan, the Employee may determine the allocation between the two, provided that, in any event the Company’s contributions will not exceed the maximum amounts set forth abovepension fund. 8.2. The appointment of the insurance agent for the Policy and/or Pension Fund (as applicable)will be in the sole discretion of the Company. 8.3. The Company undertakes to transfer the Policy and/or Pension Fund (as applicable) to the Employee after termination of the Employee’s employment with the Company, whether terminated by the Company or the Employee. Notwithstanding the above, in the event that the Employee’s employment is terminated with “Cause” as defined in Section ‎18 hereto or if the Employee fails to comply with any of the Employee’s obligations to the Company, the Company will not be obliged to release to the Employee the Company’s Contributions. 8.4. The Company’s Contributions will be in lieu of the severance pay that the Employee will be entitled to (if entitled) in the event of termination of the Employee’s employment, all in accordance with the provisions of section 14 of the Severance Pay Law, 5723-1963. The Employee’s signature on this Agreement represents the Employee’s agreement to the content of this Section. The Company waives in advance any right it may have in the future for the return of the Company’s Contributions, or any of them, unless: 8.4.1. The Employee’s entitlement for severance pay has been deprived by a judgment, under the provisions of sections 16 or 17 of the Severance Pay Law, 5723-1963, and as long as it was so deprived; or 8.4.2. The Employee has withdrawn monies from the Policy and/or Pension Fund (as applicable)not in circumstances of death, disability or retirement at the age of 60 or more. A copy of the Order and Confirmation Regarding Payments of Employers to Pension Funds and Insurance Funds instead of Severance Pay is attached as Schedule ‎‎8.4 to this Agreement. 8.5. The Company’s Contribution to the Policy shall be calculated solely based on the Salary, and the Employee’s entitlement to severance pay, if any, shall be calculated solely based on the Salary and no other payment, right or benefit to which the Employee is entitled under this Agreement or by law shall be taken into account in such calculations.