Common use of Study Fund Clause in Contracts

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. 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 The Employee 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 such a fund (the sums contributed by Executive the Employee shall be deducted directly from the his Salary by the Company). Executive The Employee shall bear any and all taxes applicable in connection with amounts payable by Executive him and/or Company to the said Study Fund.

Study Fund. The Company shall contribute contribute, retroactively as of the Effective Date, 7.5% of the Salary (but in any event, not more than the ceiling recognized by the income tax authoritiesauthorities ) 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.