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.

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.

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.