Common use of Pension Benefits and Severance Payments Clause in Contracts

Pension Benefits and Severance Payments. 5.3.1. The Company will pay into a Provident Fund (Kupat Gemel) (in the meaning of paragraph 47 of the Income Tax Ordinance) in the form of Manager's Insurance or another form according to the Employee's choice and the Company's agreement, an amount equal to thirteen and one third percent (13 1/3 %) from the monthly Global Salary paid to the Employee, and the Employee will pay, on his own account, an amount equal to five percent (5%) from that Global Salary. The Employee agrees that the Company shall be entitled to deduct the Employee's contribution (5%) from the Employee's salary. For the avoidance of doubt, it is clarified that under no circumstance shall the Company's contribution exceed thirteen and one third percent (13 1/3 %) of the Global Salary in any one month.

Pension Benefits and Severance Payments. 5.3.1. The Company will pay into a Provident Fund (Kupat Gemel) (in the meaning of paragraph 47 of the Income Tax Ordinance) in the form of Manager's Insurance or another form according to the Employee's choice and the Company's agreement, an amount equal to thirteen and one third percent (13 1/3 1/3%) from the monthly Global Salary paid to the Employee, and the Employee will pay, on his own account, an amount equal to five percent (5%) from that Global Salary. The Employee agrees that the Company shall be entitled to deduct the Employee's contribution (5%) from the Employee's salary. For the avoidance of doubt, it is clarified that under no circumstance shall the Company's contribution exceed thirteen and one third percent (13 1/3 1/3%) of the Global Salary in any one month.

Pension Benefits and Severance Payments. 5.3.1. The Company will pay into a Provident Fund (Kupat Gemel) (in the meaning of paragraph 47 of the Income Tax Ordinance) in the form of Manager's ’s Insurance or another form according to the Employee's ’s choice and the Company's ’s agreement, an amount equal to thirteen and one third percent (13 1/3 %) from the monthly Global Salary paid to the Employee, and the Employee will pay, on his own account, an amount equal to five percent (5%) from that Global Salary. The Employee agrees that the Company shall be entitled to deduct the Employee's ’s contribution (5%) from the Employee's ’s salary. For the avoidance of doubt, it is clarified that under no circumstance shall the Company's ’s contribution exceed thirteen and one third percent (13 1/3 %) of the Global Salary in any one month.

Pension Benefits and Severance Payments. 5.3.1. The Company will pay into a Provident Fund (Kupat Gemel) (in the meaning of paragraph 47 of the Income Tax Ordinance) in the form of Manager's Insurance or another form according to the Employee's choice and the Company's agreement, an amount equal to thirteen and one third percent (13 1/3 %) from the monthly Global Salary paid to the Employee, and the Employee will pay, on his own account, an amount equal to five percent (5%) from that Global Salary. The Employee agrees that the Company shall be entitled to deduct the Employee's contribution (5%) from the Employee's salaryGlobal Salary. For the avoidance of doubt, it is clarified that under no circumstance shall the Company's contribution exceed thirteen and one third percent (13 1/3 %) of the Global Salary in any one month.

Pension Benefits and Severance Payments. 5.3.1. The Company will pay into a Provident Fund (Kupat GemelKUPAT GEMEL) (in the meaning of paragraph Section 47 of the Income Tax Ordinance) in the form of Manager's Insurance or another form according to the Employee's choice and the Company's agreement, an amount equal to thirteen and one third percent (13 1/3 %) from the monthly Global Salary paid to the Employee, and the Employee will pay, pays on his his/her own account, an amount equal to five percent (5%) from that Global Salary. The Employee agrees that the Company shall be entitled to deduct the Employee's contribution (5%) from the Employee's salaryGlobal Salary. For the avoidance of doubt, it is clarified that under no circumstance circumstances shall the Company's contribution exceed thirteen and one third percent (13 1/3 %) of the Global Salary in any one month.

Pension Benefits and Severance Payments. 5.3.1. The Company will pay into a Provident Fund (Kupat Gemel) (in the meaning of paragraph 47 of the Income Tax Ordinance) in the form of Manager's Insurance or another form according to the Employee's choice and the Company's agreement, an amount equal to thirteen and one third percent (13 1/3 %) from the monthly Global Salary paid to the Employee, and the Employee will pay, on his own account, an amount equal to five percent (5%) from that Global Salary. The Employee agrees that the Company shall be entitled to deduct the Employee's contribution (5%) from the Employee's salaryGlobal Salary. For the avoidance of doubt, it is clarified that under no circumstance shall the Company's contribution exceed thirteen and one third percent (13 1/3 1/3%) of the Global Salary in any one month.