Common use of Social Insurance and Benefits Clause in Contracts

Social Insurance and Benefits. 5.1 The Company shall insure the Employee under an accepted “Manager’s Insurance Scheme” and/or a comprehensive financial arrangement, at the election of the Employee, including insurance in the event of illness or loss of capacity for work (hereinafter referred to as the “Managers Insurance”) as follows: (a) the Company shall pay an amount equal to 5% of the Employee’s Salary towards the Managers Insurance for the Employee’s benefit and shall deduct 5% from the Employee’s Salary and pay such amount towards the Managers Insurance for the Employee’s benefit (the various components of the Managers Insurance shall be fixed at the discretion of the Employee); (b) the Company shall pay up to 2.5% of the Employee’s Salary towards disability insurance; and (c) the Company shall pay an amount equal to 8 1/3% of the Employee’s Salary towards a fund for severance compensation which shall be payable to the Employee upon severance, but subject to the provisions of section 7.3.

Social Insurance and Benefits. 5.1 The Company shall insure the Employee under an accepted “Manager’s Insurance Scheme” and/or a comprehensive financial arrangement, at the election of the Employee, including insurance in the event of illness or loss of capacity for work (hereinafter referred to as the “Managers Insurance”) as follows: (a) the Company shall pay an amount equal to 5% of the Employee’s Salary towards the Managers Insurance or pension plan for the Employee’s benefit and shall deduct 5% from the Employee’s Salary and pay such amount towards the Managers Insurance or pension plan for the Employee’s benefit (division among the various components of the Managers Insurance shall be fixed at the discretion of the EmployeeEmployee subject to legal limitations); (b) the Company shall pay up to 2.5% of the Employee’s Salary towards disability insurance; and (c) the Company shall pay an amount equal to 8 1/3% of the Employee’s Salary towards a fund for severance compensation which shall be payable to the Employee upon severance, but subject to the provisions of section Section 7.3.

Social Insurance and Benefits. 5.1 8.1. The Company shall insure provide the Employee under an accepted “"Manager’s 's Insurance Scheme” " and/or a comprehensive financial arrangement, at the election of the Employee, including insurance in the event of illness or loss of capacity for work (hereinafter referred to as the “"Managers Insurance”") as follows: (ai) the Company shall pay an amount equal to 5% of the Employee’s 's Salary towards the Managers Insurance for the Employee’s 's benefit and in addition shall deduct 5% from the Employee’s 's Salary and pay such amount towards the Managers Insurance for the Employee’s 's benefit (the various components of the Managers Insurance shall be fixed at the discretion of the Employee); (bii) the Company shall pay an amount up to 2.5% of the Employee’s 's Salary towards disability insurance; and (ciii) the Company shall pay an amount equal to 8 1/3% of the Employee’s 's Salary towards a fund for severance compensation which shall be payable to the Employee upon severance, but subject to the provisions of section 7.3severance whether compensation is required by law or not.