Study Fund. During the period of Employee’s employment at the Company, the Company will make allocations to a Study Fund in the amount of 7.5% of Employee’s salary up to the maximum allowed by law, at the Company’s expense, and 2.5% of Employee’s salary up to the maximum allowed by law, at the Employee’s expense. Car: Employee will be given the use of a Company car as of the commencement of Employee’s employment. All expenses for the car will be paid by the Company, apart from a payment for the value of the use of the car, which will be paid by Employee, and will be deducted by the Company from Employee’s monthly salary. SCHEDULE B Prior Agreements
Study Fund. The Company and the Manager shall set up a study fund for the Manager. The Company shall deposit a sum equal to 7.5% of the Salary into a study fund each month, and the Manager shall set aside a sum equal to 2.5% of the Salary to the study fund, provided that the deposits pursuant to this section shall only be made up to the sum of the ceiling of the tax exemption for provisions to study funds pursuant to the Income Tax Ordinance. The Manager hereby instructs the Company to transfer the sums constituting the Manager’s portion of the provisions, to the study fund.
Study Fund. 5.2.1. Notwithstanding anything herein to the contrary, for the purpose of this Section 5.2, the term “Salary” shall mean that portion of the Salary which does not exceed the recognized ceiling for withholdings that are exempted from taxes under the provisions of applicable law in effect from time to time (the “Advanced Study Fund Ceiling”). For the removal of any doubt, it is hereby agreed that the Advanced Study Fund Ceiling shall serve as the basis for the calculation of deductions and contributions to the Advanced Study Fund.
Study Fund. The Company shall contribute 7.5% of the Salary (but in any event, not more than the ceiling recognized by the income tax authorities) towards a study fund (“Keren Hishtalmut”) (the “Study Fund”). Executive shall contribute 2.5% of the Salary (but in any event, not more than the ceiling recognized by the income tax authorities) towards the Study Fund (the sums contributed by Executive shall be deducted directly from the Salary by the Company). Executive shall bear any and all taxes applicable in connection with amounts payable by Executive and/or Company to the Study Fund.
Study Fund. 7.2.1. Company shall contribute an aggregate monthly amount up to 7.5% of the Salary towards a study fund (Keren Hishtalmut) (the “Study Fund”).
Study Fund. The employee shall be entitled to savings in the study fund. The salary that constitutes a basis for the study fund is the basic salary. The amounts of the payment are: 7.5% at ATL’s expense and 2.5% at the employee’s expense. These amounts of payment shall be calculated up to the salary ceiling permitted for the payment without any tax liability under the Income Tax Regulations, as in force from time to time. If the amounts of the payment (the employer’s share) are larger than the aforesaid ceiling, the difference shall be paid to the employee gross as a study supplement. This supplement shall not constitute a basis for calculating the rights of the employee for any purpose and/or matter.
Study Fund. The Company shall pay on a monthly basis and contribute towards a study fund (“Keren Hishtalmut”) chosen by the Employee an additional 7.5% of the Salary (which includes, ex gratia, the Global Compensation), and the Employee shall contribute 2.5% of the Salary (which includes, ex gratia, the Global Compensation) towards such a fund, all up to amounts which do not exceed the recognized amounts exempted from Israeli tax. The sums contributed by the Employee shall be deducted from his/her Salary at source, and the Employee hereby irrevocably instructs and authorizes the Company to make such deductions and transfers to the study fund. It is clarified that the Employee shall bear any and all taxes, which may apply with respect to any contribution, which exceeds the recognized tax ceilings. Upon the termination of the employment with the Company for any reason whatsoever, the Company shall release to the Employee all the funds accumulated in the Study Fund, from the contributions of both the Company and the Employee, provided however that, subject to any applicable law the Company shall not release the funds accumulated on account of the Company’s contributions to the Study Fund and said funds shall be returned to the Company and the Employee shall not have any right therein, in any event of termination of the employment hereunder as a result of Termination for Cause, as defined in this Agreement.
Study Fund. The Company and the Employee shall maintain a study fund for the Employee to which the Company shall contribute, on a monthly basis, an amount equal to 7.5% of Salary to Study Fund (as defined below) (the “Company Portion”) and the Employee shall contribute on a monthly basis an amount equal to 2.5% of Salary to Study Fund (the “Employee Portion”). Provided that the contributions according to this section will made for an amount of NIS 45,000 (the “Salary to Study Fund”). The Employee hereby instructs the Company to transfer the Employee Portion to the selected Study Fund. In the event that the Company Portion and Employee Portion exceed the maximum tax-exempt ceiling for Study Fund contributions, the exceeding amounts shall be recognized as ordinary income for tax purposes, on the date of their contribution to the selected Study Fund.
Study Fund. The Company and the Manager shall maintain a study fund for the Manager to which the Company shall contribute, on a monthly basis, an amount equal to 7.5% of the Salary to Study Fund ((as defined below) (the “Company Portion”) and the Manager shall contribute on a monthly basis an amount equal to 2.5% of the Salary to Study Fund (the “Manager Portion”). Provided that the contributions according to this section will made for an amount of NIS 42,000 (the “Salary to Study Fund”). . The Manager hereby instructs the Company to transfer the Manager Portion to the selected Study Fund. In the event that the Company Portion and Employee Portion exceed the maximum tax-exempt ceiling for Study Fund contributions, the exceeding amounts shall be recognized as ordinary income for tax purposes, on the date of their contribution to the selected Study Fund.
Study Fund. Employer shall contribute an aggregate monthly amount equal to 7.5% of the Salary towards an advanced study fund (Keren Hishtalmut) (the “Advanced Study Fund”). Employee shall contribute, and for that purpose Employee hereby irrevocably authorizes and instructs Employer to deduct from Employee’s Base Salary at source, an aggregate monthly amount equal to 2.5% of the Base Salary as Employee’s participation in such Advanced Study Fund. Employee will bear any and all taxes applicable in connection with amounts payable by Employee and/or Employer to the Advanced Study Fund.
