Vacation; Sick Leave; Recreation Pay. 2.4.1. The Employee shall be entitled to paid vacation days during each year of his/her employment as set forth in the Specific Terms. Each such leave shall be coordinated with the supervisor with reasonable consideration to the needs of the Company. The Employee shall be obliged to take at least five (5) paid vacation days during each year of the Employee’s employment, as prescribed by law. The Employee will make every effort to exercise his annual vacation; provided however, if the Employee is unable to utilize all the vacation days by the end of a calendar year, he/she shall be entitled to accumulate the unused balance of the vacation days standing to his or her credit up to the Maximum Amount set forth in the Specific Terms. For the avoidance of doubt, any unused vacation days in excess of the Maximum Amount are canceled and are not redeemable in any event.
2.4.2. The Employee shall be entitled to sick leave in accordance with the provisions of the Sick Pay Law of 1976.
2.4.3. The Employee shall be entitled to recreation pay (Dmey Havra’a) per year in accordance with the Israeli applicable law and regulations with respect to such pay.
Vacation; Sick Leave; Recreation Pay. 7.1 Employee shall be entitled to 26 paid vacation working days per calendar year, which shall accrue in accordance with Company policy. Employee shall be required to utilize five consecutive days every calendar year, and may accumulate the remaining vacation days in accordance with the Company’s policy. The dates of Employee’s annual vacation shall be coordinated in advance with the Chairman of the Board. The Employee shall be entitled to redeem the aforesaid accumulated vacation days upon termination of Employee’s employment.
7.2 Employee shall be entitled to 30 paid sick working days per calendar year, which may accumulate up to a maximum of one years’ paid sick leave. The sick pay shall include the Monthly Salary and all other amounts and benefits to which Employee is entitled under this Agreement, as if Employee worked at the Company during the period of his illness (in respect of period for which he is entitled to receive payment as aforesaid), less any amount that Employee is entitled to receive with respect to the aforementioned period of his illness, including from any pension fund and/or provident fund and/or managers insurance, and all provided that Employee provides the Company with medical confirmation of his illness. The parties hereto hereby acknowledge and agree that the payments to Employee set forth in this Section 7.2 and Employee’s insurance in the pension fund and/or managers insurance are meant to also cover the Company’s obligations under the Sick Pay Law, 1976.
7.3 Employee shall be entitled to 15 paid recreation days per calendar year provided Employee is entitled to recreation pay under law. The amount of recreation pay per recreation day, the payment conditions and any other conditions governing recreation pay shall be in accordance with the Law and the Company’s policy in effect at the applicable time with respect to its employees generally.
Vacation; Sick Leave; Recreation Pay. 7.1 Employee shall be entitled to 26 business days of paid vacation per year during the Term, which shall accrue in accordance with Company policy. Employee shall be required to utilize such number of vacation days as are required to be utilized each year by applicable Israeli law (as of the Effective Date, the number of vacation days required to be utilized each year by applicable Israeli law is seven days), and may carry over any remaining unused vacation days from prior years (up to a maximum of 52 vacation days). The dates of Employee’s annual vacation shall be coordinated in advance with the President and CEO of the Company.
7.2 Employee shall be entitled to 30 paid sick days per year during the Term, which may accumulate during the Term up to a maximum of one years’ paid sick leave. The sick pay shall include the Monthly Salary and all other amounts and benefits to which Employee is entitled under this Agreement, as if Employee worked at the Company during the period of his illness (in respect of period for which he is entitled to receive payment as aforesaid), less any amount that Employee is entitled to receive with respect to the aforementioned period of his illness from any pension or disability insurance, and all provided that Employee provides the Company with medical confirmation of his illness. The parties hereto hereby acknowledge and agree that the payments to Employee set forth in this Section 7.2 and the contributions to the Canadian pension fund and the payments to the Pension Savings Program (defined below) are also meant to cover the Company’s obligations under the Israeli Sick Pay Law 1976.
7.3 Employee shall be entitled to 15 paid recreation days per year during the Term. The amount of recreation pay per recreation day, the payment conditions and any other conditions governing recreation pay shall be in accordance with applicable Israeli law and the Company’s policy in effect at the applicable time with respect to its employees generally.
Vacation; Sick Leave; Recreation Pay
