Benefit Guarantees. On and after the Distribution Date, a Retained Employee's or a Terminee's right, if any, to receive benefits under the Manor Care, Inc. Supplemental Executive Retirement Plan shall be the responsibility of Manor Care. However, the payment of any benefits due under the Manor Care, Inc. Supplemental Executive Retirement Plan for the first thirty (30) months following the Distribution Date shall be guaranteed by Choice, to the extent not otherwise paid by Manor Care. On and after the Distribution Date, a Choice Individual's right to receive benefits under the Choice Hotels International, Inc. Supplemental Executive Retirement Plan shall be the responsibility of Choice. However, the payment of any benefits due under the Choice Hotels International, Inc. Supplemental Executive Retirement Plan which are attributable to the transferred accrued benefits earned under the Manor Care, Inc. Deferred Compensation Plan shall be guaranteed by Manor Care for the first thirty (30) months following the Distribution Date, to the extent not otherwise paid by Choice.
Appears in 3 contracts
Samples: Employee Benefits & Other Employment Matters Allocation Agreement (Choice Hotels Holdings Inc), Employee Benefits & Other Employment Matters Allocation Agreement (Choice Hotels Holdings Inc), Employee Benefits & Other Employment Matters Allocation Agreement (Choice Hotels Holdings Inc)
Benefit Guarantees. On and after the Distribution Date, a Retained Employee's, Terminee's or a TermineeManor Care director's right, if any, right to receive benefits under the Manor Care, Inc. Supplemental Executive Retirement Deferred Compensation Plan shall be the responsibility of Manor Care. However, the payment of any benefits due under the Manor Care, Inc. Supplemental Executive Retirement Deferred Compensation Plan for the first thirty (30) months following the Distribution Date shall be guaranteed by Choice, to the extent not otherwise paid by Manor Care. On and after the Distribution Date, a Choice Individual's right to receive benefits under the Choice Hotels International, Inc. Supplemental Executive Retirement Deferred Compensation Plan shall be the responsibility of Choice. However, the payment of any benefits due under the Choice Hotels International, Inc. Supplemental Executive Retirement Deferred Compensation Plan which are attributable to the transferred accrued benefits earned under the Manor Care, Inc. Deferred Compensation Plan shall be guaranteed by Manor Care for the first thirty (30) months following the Distribution Date, to the extent not otherwise paid by Choice.the
Appears in 2 contracts
Samples: Employee Benefits & Other Employment Matters Allocation Agreement (Choice Hotels Holdings Inc), Employee Benefits & Other Employment Matters Allocation Agreement (Choice Hotels Holdings Inc)
