Common use of Pension Arrangements Clause in Contracts

Pension Arrangements. The Company shall insure the Manager under a pension arrangement of his choice (insurance fund, pension fund or a combination of the two), in accordance with the rates and conditions that are set out below: 4.1. Insurance fund (“executive insurance”) – in accordance with the following components: 4.1.1. Insurance for loss of capacity to work – the Company shall, at its own expense and from an insurer of its choice, purchase coverage in the event of loss of capacity to work with the usual and acceptable conditions, at the rate that is necessary for the insurance of 75% of the Salary. The Company’s payment for insurance for loss of capacity to work shall not, in any event, be greater than 2.5% of the Salary. 4.1.2. The Company’s provisions for severance pay - 81/3% of the Salary. 4.1.3. The Company’s provisions for compensation – the difference between 6.5% of the Salary and the Company’s payment for insurance for loss of capacity to work, provided that in any event, the Company’s provisions for compensation shall not be less than 5% of the Salary. 4.1.4. The Manager’s provisions for compensation – 6% of the Salary.

Pension Arrangements. The Company shall insure the Manager Employee under a pension arrangement of his choice (insurance fund, pension fund or a combination of the two), in accordance with the rates and conditions that are set out below: 4.15.1. Insurance fund (“executive insurance”) – in accordance with the following components: 4.1.15.1.1. Insurance for loss of capacity to work – the Company shall, at its own expense and from an insurer of its choice, purchase coverage in the event of loss of capacity to work with the usual and acceptable conditions, at the rate that is necessary for the insurance of 75% of the Salary. The Company’s payment for insurance for loss of capacity to work shall not, in any event, be greater than 2.5% of the Salary. 4.1.25.1.2. The Company’s provisions for severance pay - 81/3% of the Salary. 4.1.35.1.3. The Company’s provisions for compensation – the difference between 6.5% of the Salary and the Company’s payment for insurance for loss of capacity to work, provided that in any event, the Company’s provisions for compensation shall not be less than 5% of the Salary. 4.1.45.1.4. The ManagerEmployee’s provisions for compensation – 6% of the Salary.

Pension Arrangements. The Company shall insure the Manager under a pension arrangement of his choice (insurance fund, pension fund or a combination of the two), in accordance with the rates and conditions that are set out below: 4.1. Insurance fund (“executive insurance”) – in accordance with the following components: 4.1.1. Insurance for loss of capacity to work – the Company shall, at its own expense and from an insurer of its choice, purchase coverage in the event of loss of capacity to work with the usual and acceptable conditions, at the rate that is necessary for the insurance of 75% of the Salary. The Company’s payment for insurance for loss of capacity to work shall not, in any event, be greater than 2.5% of the Salary. 4.1.2. The Company’s provisions for severance pay - 81/3% 8⅓% of the Salary. 4.1.3. The Company’s provisions for compensation – the difference between 6.5% of the Salary and the Company’s payment for insurance for loss of capacity to work, provided that in any event, the Company’s provisions for compensation shall not be less than 5% of the SalarySalary . 4.1.4. The Manager’s provisions for compensation – 6% of the Salary.

Pension Arrangements. The Company shall insure the Manager under a pension arrangement of his choice (insurance fund, pension fund or a combination of the two), in accordance with the rates and conditions that are set out below: 4.1. Insurance fund (“executive insurance”) – in accordance with the following components: 4.1.1. Insurance for loss of capacity to work – the Company shall, at its own expense and from an insurer of its choice, purchase coverage in the event of loss of capacity to work with the usual and acceptable conditions, at the rate that is necessary for the insurance of 75% of the Salary. The Company’s payment for insurance for loss of capacity to work shall not, in any event, be greater than 2.5% of the Salary. 4.1.2. The Company’s provisions for severance pay - 81/3% of the Salary. 4.1.3. The Company’s provisions for compensation – the difference between 6.5% of the Salary and the Company’s payment for insurance for loss of capacity to work, provided that in any event, the Company’s provisions for compensation shall not be less than 5% of the SalarySalary . 4.1.4. The Manager’s provisions for compensation – 6% of the Salary.