Common use of Advanced Study Fund Clause in Contracts

Advanced Study Fund. 6.2.1. Company shall contribute an aggregate monthly amount equal to 7.5% of the Salary towards an advanced study fund (Keren Hishtalmut) (the “Advanced Study Fund”) acceptable to Company. 6.2.2. In addition, Employee shall contribute, and for that purpose, Employee hereby irrevocably authorizes and instructs Company to deduct from his Salary at source, an aggregate monthly amount equal to 2.5% of the Salary as Employee’s participation in such Advanced Study Fund. 6.2.3. Employee shall bear any and all taxes applicable in connection with amounts payable by Employee and/or Company to the Advanced Study Fund pursuant to this Section 6.2. 6.2.4. In the event of a Termination for Cause (as defined hereinafter) Employee shall only be entitled to his accumulated contributions to the Advanced Study Fund.

Advanced Study Fund. 6.2.1. Company shall contribute an aggregate monthly amount equal to 7.5% of the Salary towards an advanced study fund (Keren Hishtalmut) (the “Advanced Study Fund”) acceptable to Company, as of the Effective Date. 6.2.2. In addition, Employee shall contribute, and for that purpose, Employee hereby irrevocably authorizes and instructs Company to deduct from his Salary at source, an aggregate monthly amount equal to 2.5% of the Salary as Employee’s participation in such Advanced Study Fund. 6.2.3. In case of termination initiated by the Employee shall bear any and all taxes applicable in connection with amounts payable or by the Employer, the Employee and/or Company will be entitled to get an ownership on the Advanced Advance Study Fund pursuant to this Section 6.2with component and the Manager insurance plane, Employee and Employer contributions. 6.2.4. In Only in the event of a Termination for Cause (as defined hereinafter) Employee shall only be entitled to his accumulated contributions to the Advanced Study Fund.