Common use of Wages and Conditions Clause in Contracts

Wages and Conditions. 5.1 In return for the CEO's work in the Company, the CEO shall be entitled to wages and conditions as specified in the "Summary of employment conditions" which is attached to this agreement as Appendix B and constituting an integral part thereof. 5.2 It is clarified that as the Company's CEO, the latter shall be at the disposal of the Company for the purpose of fulfilling his position at hours and days beyond the regular working hours and days, as necessary. The CEO warrants and represents that he is aware that his position is a management position that requires a unique measure of personal confidence and accordingly the work hours and rest law – 1951 shall not apply to him while working at the Company. The CEO shall not be entitled to payments or any additions for overtime and/or for surplus hours or rest days and his monthly wage, as specified in this section, as above, was calculated to include a full compensation for his work at any scope necessary, according to the work requirements.