Manager's Insurance definition

Manager's Insurance. Scheme" (the "Insurance Scheme") - (i) the Company will pay an amount equal to 5% of the Salary towards a fund for Tagmulim; and (ii) the Company will pay an amount equal to 8 1/3% of the Salary towards a fund for severance compensation (the “Company’s Severance Contribution”). Similarly the Company shall deduct an amount equal to 5% of the Salary, and shall pay such amount in respect of the Tagmulim component of the Insurance Scheme. Additionally, the Company shall pay an amount equals to 2.5% of the Salary for a fund for the event of loss of working ability ("Ovdan Kosher Avoda"). The above contributions and deductions are subject to applicable law and therefore may be adjusted accordingly. Additionally, the Company, together with the Manager will maintain an advanced study fund ("Keren Hishtalmut") and the Manager and the Company shall contribute to such fund an amount equal to 2.5% of the Salary (payable by the Manager) and 7.5% of the Salary (payable by the Company), respectively. All of the Manager's aforementioned contributions shall be transferred to the plans and funds by the Company by deducting such amounts from each monthly salary payment. The contributions set out above shall be made with respect to the total amount of the Salary notwithstanding the maximum amounts exempt from tax payment under applicable laws, provided that the Manager shall bear all tax liability associated therewith.
Sample 1Sample 2
Manager's Insurance. Scheme" (the "Insurance Scheme") - (i) the Company will pay an amount equal to 5% of the Salary towards a fund for Tagmulim; and (ii) the Company will pay an amount equal to 8 1/3% of the Salary towards a fund for severance compensation (the “Company’s Severance Contribution”). Similarly the Company shall deduct an amount equal to 5% of the Salary, and shall pay such amount in respect of the Tagmulim component of the Insurance Scheme. Additionally, the Company shall pay an amount equals up to 2.5% of the Salary for a fund for the event of loss of working ability ("Ovdan Kosher Avoda"). The above contributions and deductions are subject to applicable law and therefore may be adjusted accordingly. All of the COO's aforementioned contributions shall be transferred to the plans and funds by the Company by deducting such amounts from each monthly salary payment. The contributions set out above shall be made with respect to the total amount of the Salary notwithstanding the maximum amounts exempt from tax payment under applicable laws, provided that the COO shall bear all tax liability associated therewith.
Sample 1
Manager's Insurance insurance policy that includes a program for remuneration insurance, severance and/or allowance for hired employees which is an insurance fund, as defined in the Income Tax Regulations and in accordance with the Supervision Law (Provident Funds).
Sample 1

Examples of Manager's Insurance in a sentence

  • Upon termination of this Agreement by either party, other than in circumstances constituting Cause (as defined below), the Company shall assign and transfer to the Executive, after Executive has met all of Executive's obligations hereunder in connection with such termination of employment, the ownership in the aforesaid Manager's Insurance and Keren Hishtalmut Fund.

  • Contribution of the Company to the Manager's Insurance Policy shall be on account of the Company's severance pay obligations.

  • I also wish to thank the financial services industry players, the Bankers Association of Namibia, Asset Managers, Insurance industry, Namibia Savings Association and the Economic Association of Namibia for collaboration and support.

  • Upon any termination of the Executive employment with the Company (other than termination by the Company under circumstances in which severance payment is not payable) the rights in the Executive's "Managers' Insurance Policy" shall be assigned to the Executive.

  • The Company shall effect a Manager's Insurance Policy (the "Policy") in the name of the Executive, and shall pay a sum up to 15.83% of the Executive's Base Salary towards such Policy, of which 8.33% will be on account of severance pay and 5% on account of pension fund payments and up to a further 2.5% of the Executive's Base Salary on account of disability pension payments.

  • Upon termination of this Agreement by either party, other than in circumstances constituting Cause (as defined below), the Company shall assign and transfer to the Executive, after Executive has met all of Executive's obligations hereunder in connection with such termination of employment, the ownership in the aforesaid Managers Insurance Fund.

  • It is hereby clearly agreed and understood that the amounts accrued in the Managers Insurance on account the Company’s contribution [i.e. 13.33% of each monthly Salary payment] shall be in lieu and in full and final substation of any severance pay the Employee shall be or become entitled to under any applicable Israeli law.

  • The Company shall contribute to the Plan by paying the following sums of the Manager’s Salary: 8.33% will be on account of severance pay and 6% on account of retirement pension (5% in the case of Manager's Insurance).

  • In addition, in the case of Manager's Insurance, the Company shall pay for the Manager up to 2.5% of the Salary for disability insurance.

  • The Company will insure the Employee under a "Manager's Insurance Policy" ("Bituach Menahalim") ("Policy") or a Pension Fund ("Pension Fund"), to be selected by the Employee.


More Definitions of Manager's Insurance

Manager's Insurance has the meaning set forth in Section 6.6(b).
Sample 1
Manager's Insurance policy (Guy is required to invest 5% into the same fund from his monthly base salary); 8 1/3% severance fund into "Managers Insurance" policy. It is agreed that Guy will be entitled to all funds (including earnings) accrued in the "Managers Insurance" policy in any event that the employment agreement is terminated either by EDA or by Guy. The policy belongs only to Guy and will automatically be released to Guy once the employment agreement is terminated without the need of a written release letter from EDA.
Sample 1

Related to Manager's Insurance

  • Fidelity Insurance means insurance coverage with respect to employee errors, omissions, dishonesty, forgery, theft, disappearance and destruction, robbery and safe burglary, property (other than money and securities) and computer fraud.

  • Insurance means (i) all insurance policies covering any or all of the Collateral (regardless of whether the Collateral Agent is the loss payee thereof) and (ii) any key man life insurance policies.

  • Professional liability insurance means insurance against legal liability incident to the practice of a profession and provision of a professional service.

  • General Liability Insurance Subcontractor shall carry minimum primary General Liability Insurance for the following amounts:

  • FHA Insurance The contractual obligation of FHA respecting the insurance of an FHA Loan pursuant to the National Housing Act, as amended.

  • Casualty insurance means liability insurance.

  • First party insurance means an insurance policy or contract in which the insurer

  • Co-insurance means the percentage of the usual, reasonable, customary, and fair market value expense that a covered person must pay.

  • Errors and Omissions Insurance Policy means an errors and omissions insurance policy maintained by the Master Servicer, the Special Servicer, the Trustee, the Custodian or the Certificate Administrator, as the case may be, in accordance with Section 8.2, Section 9.2 and Section 7.17, respectively.

  • D&O Liability Insurance Policies means all insurance policies (including any “tail policy”) of any of the Debtors for liability of any current or former directors, managers, officers, and members.

  • Property Insurance is defined in Section 6.10(a).

  • Liability Insurance means compulsory professional liability errors and omissions insurance required by a governing body;

  • Company Insurance Policies has the meaning set forth in Section 3.14.

  • Personal lines insurance means property and casualty insurance coverage sold for primarily noncommercial purposes to:

  • Crew Insurances means insurances against crew risks which shall include but not be limited to death, sickness, repatriation, injury, shipwreck unemployment indemnity and loss of personal effects.

  • Excess insurance means insurance purchased from an insurance company authorized or admitted in the State of New Jersey or deemed eligible by the Commissioner as a surplus lines insurer or from any other entity authorized to provide said coverage in this state pursuant to law, covering losses in excess of an amount set forth in insurance contracts on a specific occurrence, or per accident or annual aggregate basis.

  • group insurance means insurance, other than creditor’s group insurance and family insurance, whereby the lives of a number of persons are insured severally under a single contract between an insurer and an employer or other person; (“assurance collective”)

  • Surplus lines insurance means insurance in this State of risks located or to be performed in this State, permitted to be placed through a licensed broker with a nonadmitted insurer eligible to accept the insurance, other than reinsurance, wet marine and transportation insurance, insurance independently procured, and life and health insurance and annuities. Excess and stop‑loss insurance coverage upon group life, accident, and health insurance or upon a self‑insured’s life, accident, and health benefits program may be approved as surplus lines insurance.

  • Travel Insurance means coverage for personal risks incidental to planned travel, including one or more of the following:

  • Medical malpractice insurance means insurance against legal liability incident to the practice and provision of a medical service other than the practice and provision of a dental service.

  • Other Insurance means insurance available to any covered person that covers a loss to which this policy applies, other than either primary insurance or insurance specifically purchased by you to be excess of the insurance afforded by this policy.

  • Force-Placed Insurance shall have the meaning set forth in Section 4.4.

  • Lot coverage means the portion or percentage of the area of a lot upon which buildings are erected.

  • Errors and Omissions Policy As defined in each of the Servicing Agreements.

  • Blanket insurance policy means a group policy covering a defined class of

  • R&W Insurance Policy means the representations and warranties insurance policy issued to Buyer in connection with the transactions contemplated hereby.