Social Benefits. As of the Commencement Date the Company will, on a monthly basis, pay to a pension scheme for the benefit of the Employee and shall deduct from the Employee's Salary a respective payment towards such pension scheme (the "Pension Scheme"), all with respect to the entire Salary. The Company will be entitled to select the Pension Scheme manager or insurance agent at its discretion. The Company shall pay towards a loss of working ability component in accordance with the Company's general arrangement. Subject to applicable law, except if requested otherwise by the Employee, the Pension Scheme shall be of a managers' insurance type and the contribution to such insurance will be as follows: (i) the Company will pay an amount equal to 5% (five percent) of the Salary towards a fund for. life insurance and pension, and shall deduct from the Employee's Salary an amount equal to 5% (five percent) of the Salary and pay such amount towards the Pension Scheme on the Employee's behalf; (ii) the Company will pay an amount of up to 2.5% (two percent and one half of a percent), of the Salary towards a fund for the event of loss of working ability ("Ovdan Kosher Avoda"); and (iii) the Company will pay an amount equal to 8 1/3% (eight percent and one third of a percent) of the Salary towards a severance compensation. The Employee may request a different type of Pension Scheme, provided that the total payments by the Company towards such scheme will not be greater than the total payments by the Company set forth above in this Section 7.1. For the avoidance of doubt, no amount remitted by the Company in respect of this paragraph will be considered as part of the Salary for purposes of any deduction therefrom or calculations of severance pay. As of the Start Date all payments to the Pension Scheme will be made in compliance with Section 14 of the Severance Compensation Law, 1963 ("Section 14"), and in accordance with the general approval of the Labor Minister dated June 9, 1998, promulgated under said Section 14, a copy of which is attached hereby as Exhibit B, and the terms of Section 14 and said general approval will apply to the relationship hereunder. Therefore, the ownership of the Pension Scheme will be transferred to the Employee following termination of employment and the Company will not be entitled to retrieve any of the funds it transferred to the Pension Scheme, other than in accordance with Section 14 and said general approval, and the transfer of the Pension Scheme ...
Social Benefits. (1) Canada will make its best efforts to obtain the agreement of the provinces and territories that the receipt of any payments pursuant to this Agreement will not affect the quantity, nature or duration of any social benefits or social assistance benefits payable to a Class Member or a Cloud Class Member pursuant to any legislation of any province or territory of Canada.
(2) Canada will make its best efforts to obtain the agreement of the necessary Federal Government Departments that the receipt of any payments pursuant to this Agreement will not affect the quantity, nature or duration of any social benefits or social assistance benefits payable to a Class Member or a Cloud Class Member pursuant to any social benefit programs of the Federal Government such as old age security and Canada Pension Plan.
Social Benefits. Participation in a trade union training event referred to in section 4 does not impair annual holiday, retirement or service increment benefits or any other comparable benefits.
Social Benefits. The Company agrees to pay the premium costs of O.H.I.P. during the term of this Agreement.
Social Benefits. 5.1. During the term of this Agreement, and subject to the instructions that may be set from time to time by the Income Tax Commission and in accordance with the ceiling permitted for deduction, the Company shall set aside, for the Employee, in accordance with section 14 of the Severance Pay Law, 5723-1963 and the certificate of the Minister of Labor and Welfare in an Order of June 30, 1998, which was granted in accordance with the aforesaid section 14, as amended, and which is attached to this Agreement as Appendix A, into executive insurance or a pension fund. The Company hereby waives its right to refund of the monies that it paid for the pension fund and/or the executive insurance policy, unless the Employee’s right to severance pay will be dismissed under judgment decision pursuant to sections 16 and 17 of the Severance Pay Law, 5723-1963 (in accordance with the provisions thereof), or if the Employee withdraws monies from the pension fund and/or the executive insurance policy, other than due to an “entitling event”. For this purpose, an “entitling event”: death, disability or retirement at age sixty or above.
5.2. The Company undertakes, as of the execution date of this Agreement, to set aside the sum in New Israeli Shekel equivalent of 7.5% of the Monthly Salary into a study fund. The Employee agrees that the Company shall deduct an additional sum, equal to 2.5% of the Monthly Salary, from his salary, for deposits into such study fund.
5.3. It is hereby agreed that the Company’s deposits for severance pay for the Employee (i.e., 8.33% of any gross Monthly Salary payment) are in lieu of and considered as a full and final payment for any severance pay to which the Employee is or might become entitled under any law that may apply. This section is in accordance with section 14 of the Severance Pay Law, 5723-1963, and the certificate of the Minister for Labor and Welfare in an Order of June 30, 1998, which was granted in accordance with the aforesaid section 14, as amended, and which is attached to this Agreement as Appendix A.
Social Benefits. Termination ................................................................
Social Benefits. The federal government has set objectives and adopted policies and legislation which aim to give full substance and reality to social and human values. The degree to which an event attains, complies and supports these objectives is an important factor in determining federal support.
Social Benefits. The Employee will be affiliated to the pension and provident schemes to which the Company has subscribed for its personnel. More generally, he will benefit from the social advantages granted by the Company to the professional category to which he belongs.
Social Benefits. The Employee shall be entitled to social benefits as provided in clause 2 below.
Social Benefits. (a) A Member on study leave may, during his/her absence, continue to participate in the group benefit programs provided, however, that the necessary arrangements have been made with Human Resources Services, including the payment of the respective share of the cost of the premiums, so that full payment of premiums be made.
(b) Sick leave and holidays do not accumulate during study leave periods.
(c) The years of study leave are not considered when computing the years of service for purposes of sabbatical leave, renewal, promotion, and salary.
(d) A Member must wait a minimum of three years after his/her return from a study leave that lasted at least one year before he/she may be considered for a sabbatical leave.
