Here is the English translation of the legal summary: On November 16, 2024, a judgment was rendered in Labor Dispute Case (Tel Aviv) 7535-07-22, Timea Kovacs v. Novo Central Ltd., in which the Regional Labor Court accepted an employee’s claim for the exercise of options and compensation for wrongful termination in bad faith, ruling that […]
In a recent post we have updated that on 29.12.2015 the Israeli Knesset approved the Law for the Promotion of Investments in High Tech Companies 2015 (hereinafter: the “Law”), authorizing privately held companies the offer the purchase of their securities, online, without the need to file a prospectus. However, since the adoption of the Law, no regulations were enacted setting […]
In a recent post we have updated that on 29.12.2015 the Israeli Knesset approved the Law for the Promotion of Investments in High Tech Companies 2015 (hereinafter: the “Law”), authorizing privately held companies the offer the purchase of their securities, online, without the need to file a prospectus. However, since the adoption of the Law, no regulations were enacted setting […]
The 15th amendment to the Israeli Annual Vacation Law, 1951 came into effect on 1.7.2016. According to the Amendment, commencing on 1.7.2016 Israeli employees with up to 4 working years of experience, will enjoy an additional vacation day (on a “gross” basis, including Saturdays), so that they will be entitled to 15 days off (gross) a year instead of […]
In CA 6946/11 Jacob Sesbon et al. v. Ephraim Solomon et al., published by “Nevo” the Supreme Court ruled in an appeal on the Tel Aviv District Court, which rejected appellants’ motion to declare that their “management shares” are entitled to appoint board members, and accepted respondents’ position that the general assembly of its shareholders rightfully […]
On December 29, 2015 the Israeli Knesset approved (voted for second and third hearings) the Law for Encouragement of Investments in Hi Tech Companies – 2015, mainly allowing public offerings via crowd funding online, without the need to file a prospectus. The law allows an offer of securities of a corporation incorporated in Israel, without the need […]
Grant of Phantom Based Options and Benefits to Employees/Service Providers Phantom options are options that are granted pursuant to an agreement between a company and an employee/consultant/service provider, entitling the grantee to a monetary payment at a certain time in the future , reflecting the increase in the market/share value of the company, while it is not […]
Hearing Prior to Termination Under Israeli Law To follow is a summary of recent Labor Court rulings regarding the process of hearing before termination. 1. The employer should notify the employee in writing about the intention to terminate him. The notice should be given few days in advance (usually 2-3 days in advance, although under specific circumstances the notice […]
General Principles of Israeli Labor Laws By Yair Mintus, Adv. 1. Preface 1.1. The purpose of this article is to provide the reader with a brief description and a general overview of Israeli labor laws and principles, which are quite often very different from the principles governing labor relationships in other westernized countries. Israeli labor […]