Manager’s Insurance Sample Clauses
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Manager’s Insurance. 10.1. The Company will insure the Employee under a “Manager’s Insurance Policy” to be selected by the Company (the “Policy”), and shall remit to the Policy as follows: (i) an amount equal to 5% of the Salary for savings and risk component; (ii) an amount equal to 8 1/3% of the Salary for severance pay component (the “Severance Pay Component”); and (iii) amount of up to 2.5% (two and half percents) of the Salary for loss of earning capacity component, (collectively, the “Company’s Contribution”). In addition, the Company shall deduct from the Employee’s Salary an amount equal to 5% of the Salary, which it shall remit to the Policy for the savings and risk component (the “Employee’s Contributions”).
10.2. The Company undertakes to transfer the Policy to the Employee within a reasonable time after termination of the Employee’s employment with the Company, whether terminated by the Company or the Employee.
10.3. The Company’s Contributions will be in lieu of the severance pay that the Employee will be entitled to in the event of his termination, all in accordance with the provisions of Section 14 of the Severance Pay Law, 5723-1963. The Employee’s signature on this Agreement represents the Employee’s agreement to the content of this section. The Company waives in advance any right it may have in the future for the return of the Company’s Contributions, or any of them, unless:
10.3.1. The Employee’s entitlement for severance pay has been deprived by a judgment, under the provisions of sections 16 or 17 of the Severance Pay Law, 5723-1963, and as long as it was so deprived; or
10.3.2. The employee has withdrawn monies from the Policy not in circumstances of death, disability or retirement at the age of 60 or more. A copy of the Order and Confirmation Regarding Payments of Employers to Pension Funds and Insurance Funds instead of Severance Pay is attached as Schedule B to this Agreement.
10.4. The Company’s Contribution to the Policy shall be calculated solely based on the Salary, and the Employee’s entitlement to severance pay, if any, shall be calculated solely based on the Salary and no other payment, right or benefit to which the Employee is entitled under this Agreement or by law shall be taken into account in such calculations.
Manager’s Insurance. Manager throughout the Term, shall maintain in full force and effect, and at its cost, the following kinds of insurance, covering its performance of its obligations in respect of the Properties:
(a) Property insurance for the full replacement value of Manager’s equipment, data, furniture and other personal property kept at any Property or used in connection with Manager’s services. Manager hereby waives all claims against Owner and Tenants at any Property, and, with respect to each of the foregoing, its employees, officers, shareholders, directors, agents, and representatives, for loss or damage to these items, regardless of whether the loss or damage is covered by insurance.
(b) Commercial General Liability Insurance, including coverage for Premises-Operations, Products-Completed Operations, Independent Contracts, Blanket Contractual liability, Personal Injury and Broad form Property Damage, and including Cross Liability and Severability of Interests, with the following minimum limits: $1,000,000 each occurrence; and $1,000,000 general aggregate. Such policy shall provide coverage on a per occurrence and per location basis and shall be primary and non-contributory per Manager’s indemnification obligations. The contractual liability insurance shall include coverage sufficient to meet the indemnity obligations in this Agreement. Owner and Owner’s lenders and all other parties otherwise designated by the Owner from time to time shall each be added as an additional insured upon request.
(c) Commercial Automobile Liability Insurance, including coverage for owned, non-owned, leased and hired autos, in the minimum amount of $1,000,000 combined single limit for Bodily Injury and Property Damage if automobiles are used in the performance of Manager’s obligations hereunder.
(d) All persons designated by Manager as authorized signatories or who otherwise handle funds for any Property shall be covered by comprehensive fidelity, employee crime and dishonesty insurance maintained by Manager with coverage in the minimum amount of $1,000,000. Owner, in the exercise of its reasonable discretion, may require Manager to increase the amount of such bond at Owner’s expense if Owner determines that circumstances reasonably warrant such increase in view of the risks involved. This policy or bond must include coverage for employee dishonesty, forgery or alteration, money and securities (in and out), computer fraud, funds transfer fraud, and third-party client coverage for Owner’...
Manager’s Insurance. Manager shall obtain and keep in force during the term of this Agreement at its sole cost and expense, the insurance coverages identified on EXHIBIT "C", attached hereto and made a part hereof.
Manager’s Insurance. Manager shall obtain and maintain:
(a) Comprehensive crime/fidelity coverage in the amount of $1,000,000 and shall name Owner as loss payee.
(b) All-risks property insurance on a full replacement cost basis covering Manager’s personal property on the Premises.
(c) Worker’s Compensation insurance as required by statute.
(d) Employer’s Liability insurance in the amount of $1,000,000 each accident.
(e) Automobile Liability insurance in the amount of $1,000,000 each occurrence.
Manager’s Insurance. Manager will maintain (as an operating expense of the Property with respect to on-site employees only) Workers' Compensation and similar insurance as required by law. Manager may maintain, at Manager's expense, Commercial General Liability Insurance. Manager will maintain the following insurance at its own expense (not chargeable to the Property):
Manager’s Insurance. Manager shall, on its own behalf and at its ------------------- sole cost and expense, procure and maintain in force during the term of this Agreement policies in the following categories in the amount indicated:
a. Comprehensive general liability insurance covering the risks of Manager, in an amount determined by the Joint Operations Committee;
Manager’s Insurance. Manager shall, on its own behalf and at its sole ------------------- cost and expense, procure and maintain in force during the term of this Agreement policies in the following categories in the amount indicated:
(a) Comprehensive general liability insurance covering the risks of Manager, in an amount determined by the Joint Operations Committee;
(b) Workers' compensation insurance covering the employees of Manager, in such amounts as is usual and customary under the circumstances;
(c) Property insurance covering the facilities, equipment and supplies owned or leased by Manager or Dental Group for use in the operation of the Practice.
Manager’s Insurance. If requested by Owner at any time during the Term, Manager (as a reimbursable expense under this Agreement) and any independent contractors employed by Manager (at such contractor's expense) shall maintain in full force and effect commercial general liability, workers' compensation, employer's liability and such other insurance as Owner may reasonably require with such limits as are customary for managers of similar first class projects in the area.
Manager’s Insurance. Manager shall obtain and maintain the following insurance (the specifications for which may be changed from time to time by Owner) necessary to protect the interest of Owner as it relates to Manager's operations hereunder, at Manager's sole cost and expense, from authorized insurance companies approved by Owner rated by Best's Rating at A XII or higher.
Manager’s Insurance. Within ten days after the end of each month during the employment of Employee hereunder (or such other day as is consistent with the Company’s general practices), the Company shall pay an aggregate amount equal to 18-1/3% of the Employee’s monthly Salary for the preceding month to a Managers Insurance (Bituach Manahalim) policy (the “Policy”) and/or a comprehensive pension plan (“Pension Plan”) through an agency and with an insurance company or a pension fund, to be selected by the Employee, to be divided as follows: 8-1/3% towards Severance (the “Company’s Severance Contribution”); 5% toward provident (compensation). In addition the Company shall pay up to 2-1/2% of the Employee’s Salary towards loss of (working capacity) disability insurance (depending on the cost to the Company necessary to provide coverage). Similarly, at the beginning of each month the Company shall deduct from the Salary of Employee an amount equal to 5% of the Employee’s monthly Salary for the preceding month, and shall pay such amount as premium payable in respect of the provident compensation component of Policy. In the event the Employee elects to be insured under a Pension Plan, the allocations shall be modified in accordance with the Pension Plans policies, provided, in any event they do not exceed the amounts set forth above.