Definition of Tax Ordinance


Tax Ordinance means the Israeli Income Tax Ordinance [New Version], 1961, as amended.

Examples of Tax Ordinance in a sentence

Upon vesting, the shares of Common Stock shall be controlled by the Company's trustee appointed by the Company or its Subsidiary or Affiliate in Israel (the "Trustee") for your benefit for at least such period of time as required by Section 102 or any shorter period determined under the Israeli Income Tax Ordinance (New Version), 5721-1961 as now in effect or as hereafter amended (the "Ordinance") (with respect to the "capital gain route") or by the Israeli Tax Authority (the "Lock-Up Period").
Without derogating from the foregoing Eligible Participant shall include any employee or Office Holder (as such term is defined in the Companies Law) of the Company or any Subsidiary except for such persons that are deemed to be 'Ba'al Shlita' under Section 32 to the Income Tax Ordinance.
1.1.This Appendix (the "Appendix") is made as part of the Plan (as defined herein whereas all terms not otherwise defined herein shall have the meaning ascribed to them in the Plan) and pursuant to the provisions of Section 102 of the Income Tax Ordinance (as defined herein).
2.5."Income Tax Ordinance" means the Israeli Income Tax Ordinance (New Version) 1961, as amended from time to time.
Each Notice of Grant evidencing a 102 Award shall be subject to the provisions of the Tax Ordinance applicable to such awards.