Common use of Other Post-Employment Benefits Clause in Contracts

Other Post-Employment Benefits. (a) Basic Group medical and life insurance coverages shall continue under then prevailing terms during the Severance Pay Period; provided, however, that if Employee becomes employed by a new employer during that period, continuing coverage from ARAMARK will become secondary to any coverage afforded by the new employer. Employee's share of the premiums will be deducted from Employee's severance payments. Basic Group medical coverage provided during such period shall be applied against ARAMARK's obligation to continue group medical coverage under the Consolidated Omnibus Budget Reconciliation Act of 1985 ("COBRA"). Upon termination of basic group medical and life coverages, Employee may convert such coverages to individual policies to the extent allowable under the terms of the plans providing such coverages. (b) Employee's leased vehicle shall be made available to Employee through the Severance Pay Period at which time Employee has the option to either purchase the vehicle in accordance with the Executive Leadership Council policy then in effect or return it to ARAMARK. (c) Employee's eligibility to participate in all other benefit and compensation plans, including, but not limited to the Management Incentive Bonus, Long Term Disability, Stock Unit Retirement, Deferred Compensation and any stock option or ownership plans, shall terminate as of the effective date of Employee's termination unless provided otherwise under the terms of a particular plan, provided, however, that participation in plans and programs made available solely to Executive Leadership Council members, including, but not limited to the Executive Leadership Council Medical Plan, shall cease as of the effective date of termination or the date Employee's Executive Leadership Council membership ceases, whichever occurs first. Employee, however, shall have certain rights to continue the Executive Leadership Council Medical Plan under COBRA.

Appears in 13 contracts

Samples: Employment Agreement (Aramark Worldwide Corp), Employment Agreement (Aramark Worldwide Corp), Employment Agreement (Aramark Worldwide Corp)

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Other Post-Employment Benefits. (a) Basic Group medical and life insurance coverages shall continue under then prevailing terms during the Severance Pay Period; provided, however, that if Employee becomes employed by a new employer during that period, continuing coverage from ARAMARK will become secondary to any coverage afforded by the new employer. Employee's share of the premiums will be deducted from Employee's severance payments. Basic Group medical coverage provided during such period shall be applied against ARAMARK's obligation to continue group medical coverage under the Consolidated Omnibus Budget Reconciliation Act of 1985 ("COBRA"). Upon termination of basic group medical and life coverages, Employee may convert such coverages to individual policies to the extent allowable under the terms of the plans providing such coveragesplan provisions. (b) Employee's leased vehicle shall be made available to Employee through the Severance Pay Period at which time Employee has the option to either purchase the vehicle in accordance with the Executive Leadership Council policy plan then in effect or return it to ARAMARK. (c) Employee's eligibility to participate in all other benefit and compensation plans, including, but not limited to the Management Incentive Bonus, Long Term Disability, Stock Unit Retirement, Deferred Compensation and any stock option or ownership plans, shall terminate as of the effective date of Employee's termination unless provided otherwise under the terms of a particular plan, provided, however, that participation in plans and programs made available solely to Executive Leadership Council members, including, but not limited to the Executive Leadership Council Medical Plan, shall cease as of the effective date of termination or the date Employee's Executive Leadership Council membership ceases, whichever occurs first. Employee, however, shall have certain rights to continue the Executive Leadership Council Medical Plan under COBRA.

Appears in 5 contracts

Samples: Employment Agreement (Aramark Worldwide Corp), Employment Agreement (Aramark Worldwide Corp), Employment Agreement (Aramark Worldwide Corp)

Other Post-Employment Benefits. (a) Basic Group medical and life insurance coverages shall continue under then prevailing terms during the Severance Pay Period; provided, however, that if Employee becomes employed by a new employer during that period, continuing coverage from ARAMARK Aramark will become secondary to any coverage afforded by the new employer. Employee's ’s share of the premiums will be deducted from Employee's ’s severance payments. Basic Group medical coverage provided during such period shall be applied against ARAMARK's Aramark’s obligation to continue group medical coverage under the Consolidated Omnibus Budget Reconciliation Act of 1985 ("COBRA"). Upon termination of basic group medical and life coverages, Employee may convert such coverages to individual policies to the extent allowable under the terms of the plans providing such coverages. (b) Employee's If, at the time of termination, Aramark is providing Employee with a leased vehicle, then Aramark will continue to provide the leased vehicle shall be made available to Employee through the Severance Pay Period under the same terms and conditions as in effect at which the time of the Employee’s termination. At the expiration of the Severance Pay Period, Employee has must return the option leased vehicle to either Aramark unless the Employee elects to purchase the vehicle in accordance with the Executive Leadership Council policy then in effect or return it effect. If Employee is receiving a car allowance at the time of the Employee’s termination, such car allowance will continue to ARAMARKbe paid through the Severance Pay Period. At the expiration of the Severance Pay Period, the Employee will cease being paid a car allowance. (c) Until the earlier to occur of (i) the last day of the Severance Pay Period or (ii) the date Employee becomes employed by a new employer, Aramark shall reimburse all reasonable expenses incurred by Employee for professional outplacement services by qualified consultants employed by a recognized outplacement services firm selected by Employee's , in an amount not to exceed 10% of the Employee’s base salary at the time of termination, without regard to any temporary salary reduction that may be in effect at such date due to material market disruptions resulting from the impact of the COVID-19 (or other) pandemic. (d) Employee’s eligibility to participate in all other benefit and compensation plans, including, but not limited to the Management Incentive Bonus, Long Term Disability, Stock Unit Retirementany qualified or nonqualified retirement plans, Deferred Compensation and any stock option equity incentive or ownership plans, shall terminate as of the effective date of Employee's ’s termination unless provided otherwise under the terms of a particular plan, ; provided, however, that participation in plans and programs made available solely to Executive Leadership Council members, including, but not limited to the Executive Leadership Council Medical Plan, shall cease as of the effective date of termination or the date Employee's ’s Executive Leadership Council membership ceases, whichever occurs first. Employee, however, shall have certain rights to continue the Executive Leadership Council Medical Plan under COBRA.

Appears in 4 contracts

Samples: Employment Agreement (Aramark), Employment Agreement (Aramark), Employment Agreement (Aramark)

Other Post-Employment Benefits. (a) Basic Group medical and life insurance coverages shall continue under then prevailing terms during the Severance Pay Period; provided, however, that if Employee becomes employed by a new employer during that period, continuing coverage from ARAMARK will become secondary to any coverage afforded by the new employer. Employee's ’s share of the premiums will be deducted from Employee's ’s severance payments. Basic Group medical coverage provided during such period shall be applied against ARAMARK's ’s obligation to continue group medical coverage under the Consolidated Omnibus Budget Reconciliation Act of 1985 ("COBRA"). Upon termination of basic group medical and life coverages, Employee may convert such coverages to individual policies to the extent allowable under the terms of the plans providing such coverages. (b) Employee's If, at the time of termination, ARAMARK is providing Employee with a leased vehicle, then ARAMARK will continue to provide the leased vehicle shall be made available to Employee through the Severance Pay Period under the same terms and conditions as in effect at which the time of the Employee’s termination. At the expiration of the Severance Pay Period, Employee has must return the option leased vehicle to either ARAMARK unless the Employee elects to purchase the vehicle in accordance with the Executive Leadership Council policy then in effect or return it effect. If Employee is receiving a car allowance at the time of the Employee’s termination, such car allowance will continue to ARAMARKbe paid through the Severance Pay Period. At the expiration of the Severance Pay Period, the Employee will cease being paid a car allowance. (c) Employee's ’s eligibility to participate in all other benefit and compensation plans, including, but not limited to the Management Incentive Bonus, Long Term Disability, Stock Unit Retirement, Deferred Compensation Compensation, 2001 Equity Incentive Plan, and any other stock option or ownership plans, shall terminate as of the effective date of Employee's ’s termination unless provided otherwise under the terms of a particular plan, provided, however, that participation in plans and programs made available solely to Executive Leadership Council members, including, but not limited to the Executive Leadership Council Medical Plan, shall cease as of the effective date of termination or the date Employee's ’s Executive Leadership Council membership ceases, whichever occurs first. Employee, however, shall have certain rights to continue the Executive Leadership Council Medical Plan under COBRA.

Appears in 3 contracts

Samples: Employment Agreement (Aramark Corp/De), Employment Agreement (Aramark Corp/De), Employment Agreement (Aramark Corp/De)

Other Post-Employment Benefits. (a) Basic Group medical and life insurance coverages shall continue under then prevailing terms during the Severance Pay Period; provided, however, that if Employee becomes employed by a new employer during that period, continuing coverage from ARAMARK will become secondary to any coverage afforded by the new employer. Employee's ’s share of the premiums will be deducted from Employee's ’s severance payments. Basic Group medical coverage provided during such period shall be applied against ARAMARK's ’s obligation to continue group medical coverage under the Consolidated Omnibus Budget Reconciliation Act of 1985 ("COBRA"). Upon termination of basic group medical and life coverages, Employee may convert such coverages to individual policies to the extent allowable under the terms of the plans providing such coverages. (b) Employee's If, at the time of termination, ARAMARK is providing Employee with a leased vehicle, then ARAMARK will continue to provide the leased vehicle shall be made available to Employee through the Severance Pay Period under the same terms and conditions as in effect at which the time of the Employee’s termination. At the expiration of the Severance Pay Period, Employee has must return the option leased vehicle to either ARAMARK unless the Employee elects to purchase the vehicle in accordance with the Executive Leadership Council policy then in effect or return it effect. If Employee is receiving a car allowance at the time of the Employee’s termination, such car allowance will continue to ARAMARKbe paid through the Severance Pay Period. At the expiration of the Severance Pay Period, the Employee will cease being paid a car allowance. (c) Employee's ’s eligibility to participate in all other benefit and compensation plans, including, but not limited to the Management Incentive Bonus, Long Term Disability, Stock Unit Retirementany nonqualified retirement plans, Deferred Compensation and any stock option or ownership plans, shall terminate as of the effective date of Employee's ’s termination unless provided otherwise under the terms of a particular plan, provided, however, that participation in plans and programs made available solely to Executive Leadership Council members, including, but not limited to the Executive Leadership Council Medical Plan, shall cease as of the effective date of termination or the date Employee's ’s Executive Leadership Council membership ceases, whichever occurs first. Employee, however, shall have certain rights to continue the Executive Leadership Council Medical Plan under COBRA.

Appears in 3 contracts

Samples: Employment Agreement, Employment Agreement (Aramark Corp), Employment Agreement (Aramark Corp)

Other Post-Employment Benefits. (a) Basic Group medical and life insurance coverages shall continue under then prevailing terms during the Severance Pay Period; provided, however, that if Employee becomes employed by a new employer during that period, continuing coverage from ARAMARK will become secondary to any coverage afforded by the new employer. Employee's ’s share of the premiums will be deducted from Employee's ’s severance payments. Basic Group medical coverage provided during such period shall be applied against ARAMARK's ’s obligation to continue group medical coverage under the Consolidated Omnibus Budget Reconciliation Act of 1985 ("COBRA"). Upon termination of basic group medical and life coverages, Employee may convert such coverages to individual policies to the extent allowable under the terms of the plans providing such coverages. (b) Employee's ’s leased vehicle shall be made available to Employee through the Severance Pay Period at which time Employee has the option to either purchase the vehicle in accordance with the Executive Leadership Council policy then in effect or return it to ARAMARK. (c) Employee's ’s eligibility to participate in all other benefit and compensation plans, including, but not limited to the Management Incentive Bonus, Long Term Disability, Stock Unit Retirement, Deferred Compensation and any stock option or ownership plans, shall terminate as of the effective date of Employee's ’s termination unless provided otherwise under the terms of a particular plan, provided, however, that participation in plans and programs made available solely to Executive Leadership Council members, including, but not limited to the Executive Leadership Council Medical Plan, shall cease as of the effective date of termination or the date Employee's ’s Executive Leadership Council membership ceases, whichever occurs first. Employee, however, shall have certain rights to continue the Executive Leadership Council Medical Plan under COBRA.

Appears in 2 contracts

Samples: Employment Agreement (Aramark Corp/De), Employment Agreement (Aramark Corp/De)

Other Post-Employment Benefits. (a) Basic Group medical and life insurance coverages shall continue under then prevailing terms during the Severance Pay Period; provided, however, that if Employee becomes employed by a new employer during that period, continuing coverage from ARAMARK will become secondary to any coverage afforded by the new employer. Employee's ’s share of the premiums will be deducted from Employee's ’s severance payments. Basic Group medical coverage provided during such period shall be applied against ARAMARK's ’s obligation to continue group medical coverage under the Consolidated Omnibus Budget Reconciliation Act of 1985 ("COBRA"). Upon termination of basic group medical and life coverages, Employee may convert such coverages to individual policies to the extent allowable under the terms of the plans providing such coverages. (b) If ARAMARK is providing Employee with a car allowance at the time of the Employee's leased vehicle shall ’s termination, such car allowance will continue to be made available to Employee paid through the Severance Pay Period at which time Period. At the expiration of the Severance Pay Period, the Employee has the option to either purchase the vehicle in accordance with the Executive Leadership Council policy then in effect or return it to ARAMARKwill cease being paid a car allowance. (c) Notwithstanding anything in any applicable agreement to the contrary, on the Employee's eligibility ’s termination date Employee shall become immediately vested in the next two tranches of any then unvested and outstanding Time Options that would, but for Employee’s termination of employment, have become vested within the twenty-four (24) months following the termination date. Such vested Time Options shall otherwise be subject to participate in all other benefit terms and compensation plansconditions contained in their respective NQSO Grant agreement. For purposes of this Agreement, including, but not limited to the Management Incentive Bonus, Long Term Disability, Stock Unit Retirement, Deferred Compensation and any stock option or ownership plans, shall terminate as of the effective date of Employee's termination unless provided otherwise under the terms of a particular plan, provided, however, that participation in plans and programs made available solely to Executive Leadership Council members, including, but not limited to the Executive Leadership Council Medical Plan, shall cease as of the effective date of termination or the date Employee's Executive Leadership Council membership ceases, whichever occurs first. Employee, however, shall have certain rights to continue the Executive Leadership Council Medical Plan under COBRA.term “NQSO Grant”

Appears in 2 contracts

Samples: Employment Agreement, Employment Agreement (Aramark Corp)

Other Post-Employment Benefits. (a) Basic Group medical and life life: insurance coverages shall continue under then prevailing terms during the Severance Pay Period; provided, however, that if Employee becomes employed by a new employer during that period, continuing coverage from ARAMARK will become secondary to any coverage afforded by the new employer. Employee's ’s share of the premiums will be deducted from Employee's ’s severance payments. Basic Group medical coverage provided during such period shall be applied against ARAMARK's ’s obligation to continue group medical coverage under the Consolidated Omnibus Budget Reconciliation Act of 1985 ("COBRA"). Upon termination of basic group medical and life coverages, Employee may convert such coverages to individual policies to the extent allowable under the terms of the plans providing such coverages. (b) Employee's If, at the time of termination, ARAMARK is providing Employee with a leased vehicle, then ARAMARK will continue to provide the leased vehicle shall be made available to Employee through the Severance Pay Period under the same terms and conditions as in effect at which the time of the Employee’s termination. At the expiration of the Severance Pay Period, Employee has must return the option leased vehicle to either ARAMARK unless the Employee elects to purchase the vehicle in accordance with the Executive Leadership Council policy then in effect or return it effect. If Employee is receiving a car allowance at the time of the Employee’s termination, such car allowance will continue to ARAMARKbe paid through the Severance Pay Period. At the expiration of the Severance Pay Period, the Employee will cease being paid a car allowance. (c) Employee's ’s eligibility to participate in all other benefit and compensation plans, including, but not limited to the Management Incentive Bonus, Long Term Disability, Stock Unit Retirement, Deferred Compensation Compensation, 2001 Equity Incentive Plan, and any other stock option or ownership plans, shall terminate as of the effective date of Employee's ’s termination unless provided otherwise under the terms of a particular plan, provided, however, that participation in plans and programs made available solely to Executive Leadership Council members, including, but not limited to the Executive Leadership Council Medical Plan, shall cease as of the effective date of termination or the date Employee's ’s Executive Leadership Council membership ceases, whichever occurs first. Employee, however, shall have certain rights to continue the Executive Leadership Council Medical Plan under COBRA.

Appears in 1 contract

Samples: Employment Agreement (Aramark Corp/De)

Other Post-Employment Benefits. (a) Basic Group medical and life insurance coverages shall continue under then prevailing terms during the Severance Pay Period; provided, however, that if Employee becomes employed by a new employer during that period, continuing coverage from ARAMARK will become secondary to any coverage afforded by the new employer. Employee's ’s share of the premiums will be deducted from Employee's ’s severance payments. Basic Group medical coverage provided during such period shall be applied against ARAMARK's ’s obligation to continue group medical coverage under the Consolidated Omnibus Budget Reconciliation Act of 1985 ("COBRA"). Upon termination of basic group medical and life coverages, Employee may convert such coverages to individual policies to the extent allowable under the terms of the plans providing such coverages. (b) Employee's If, at the time of termination, ARAMARK is providing Employee with a leased vehicle, then ARAMARK will continue to provide the leased vehicle shall be made available to Employee through the Severance Pay Period under the same terms and conditions as in effect at which the time of the Employee’s termination. At the expiration of the Severance Pay Period, Employee has must return the option leased vehicle to either ARAMARK unless the Employee elects to purchase the vehicle in accordance with the Executive Leadership Council policy then in effect or return it effect. If Employee is receiving a car allowance at the time of the Employee’s termination; such car allowance will continue to ARAMARKbe paid through the Severance Pay Period. At the expiration of the Severance Pay Period, the Employee will cease being paid a car allowance. (c) Employee's ’s eligibility to participate in all other benefit and compensation plans, including, but not limited to the Management Incentive Bonus, Long Term Disability, Stock Unit Retirement, Deferred Compensation Deterred Compensation, 2001 Equity Incentive Plan, and any other stock option or ownership plans, shall terminate as of the effective date of Employee's ’s termination unless provided otherwise under the terms of a particular plan, provided, however, that participation in plans and programs made available solely to Executive Leadership Council members, including, but not limited to the Executive Leadership Council Medical Plan, shall cease as of the effective date of termination or the date Employee's ’s Executive Leadership Council membership ceases, whichever occurs first. Employee, however, shall have certain rights to continue the Executive Leadership Council Medical Plan under COBRA.

Appears in 1 contract

Samples: Employment Agreement (Aramark Corp/De)

Other Post-Employment Benefits. (a) Basic Group medical and life insurance coverages shall continue under then prevailing terms during the Severance Pay Period; provided, however, that if Employee becomes employed by a new employer during that period, continuing coverage from ARAMARK SEAMLESSWEB will become secondary to any coverage afforded by the new employer. Employee's ’s share of the premiums will be deducted from Employee's ’s severance payments. Basic Group medical coverage provided during such period shall be applied against ARAMARK's SEAMLESSWEB’s obligation to continue group medical coverage under the Consolidated Omnibus Budget Reconciliation Act of 1985 ("COBRA"). Upon termination of basic group medical and life coverages, Employee may convert such coverages to individual policies to the extent allowable under the terms of the plans providing such coverages. (b) Employee's If, at the time of termination, SEAMLESSWEB is providing Employee with a leased vehicle, then SEAMLESSWEB will continue to provide the leased vehicle shall be made available to Employee through the Severance Pay Period under the same terms and conditions as in effect at which the time of the Employee’s termination. At the expiration of the Severance Pay Period, Employee has must return the option leased vehicle to either SEAMLESSWEB unless the Employee elects to purchase the vehicle in accordance with the Executive Leadership Council applicable SEAMLESSWEB policy then in effect or return it effect. If Employee is receiving a car allowance at the time of the Employee’s termination, such car allowance will continue to ARAMARKbe paid through the Severance Pay Period. At the expiration of the Severance Pay Period, the Employee will cease being paid a car allowance. (c) Employee's ’s eligibility to participate in all other benefit and compensation plans, including, but not limited to the Management Incentive Bonusbonus plans, Long Term Disabilitylong term disability, Stock Unit Retirement, Deferred Compensation any nonqualified plans and any stock option or ownership equity-based plans, shall terminate as of the effective date of Employee's ’s termination unless provided otherwise under the terms of a particular plan, provided, however, that participation in plans and programs made available solely to Executive Leadership Council members, including, but not limited to the Executive Leadership Council Medical Plan, shall cease as of the effective date of termination or the date Employee's Executive Leadership Council membership ceases, whichever occurs first. Employee, however, shall have certain rights to continue the Executive Leadership Council Medical Plan under COBRA.

Appears in 1 contract

Samples: Employment Agreement (GrubHub Seamless Inc.)

Other Post-Employment Benefits. (a) Basic Group medical and life insurance coverages shall continue under then prevailing terms during the Severance Pay Period; provided, however, that if Employee becomes employed by a new employer during that period, continuing coverage from ARAMARK Aramark will become secondary to any coverage afforded by the new employer. Employee's ’s share of the premiums will be deducted from Employee's ’s severance payments. Basic Group medical coverage provided during such period shall be applied against ARAMARK's Xxxxxxx’s obligation to continue group medical coverage under the Consolidated Omnibus Budget Reconciliation Act of 1985 ("COBRA"). Upon termination of basic group medical and life coverages, Employee may convert such coverages to individual policies to the extent allowable under the terms of the plans providing such coverages. (b) If Employee is receiving a car allowance at the time of the Employee's leased vehicle shall ’s termination, such car allowance will continue to be made available to Employee paid through the Severance Pay Period at which time Period. At the expiration of the Severance Pay Period, the Employee has the option to either purchase the vehicle in accordance with the Executive Leadership Council policy then in effect or return it to ARAMARKwill cease being paid a car allowance. (c) Employee's ’s eligibility to participate in all other benefit and compensation plans, including, but not limited to the Management Incentive Bonus, Long Term Disability, Stock Unit Retirement, Deferred Compensation any nonqualified plans and any stock option or ownership plans, shall terminate as of the effective date of Employee's ’s termination unless provided otherwise under the terms of a particular plan, provided, however, that participation in plans and programs made available solely to Executive Leadership Council members, including, but not limited to the Executive Leadership Council Medical Plan, shall cease as of the effective date of termination or the date Employee's ’s Executive Leadership Council membership ceases, whichever occurs first. Employee, however, shall have certain rights to continue the Executive Leadership Council Medical Plan under COBRA.

Appears in 1 contract

Samples: Employment Agreement (Epic NewCo, Inc.)

Other Post-Employment Benefits. (a) a. Basic Group medical and life insurance coverages shall continue under then prevailing terms during the Severance Pay Period; provided, however, that if Employee becomes employed by a new employer during that period, continuing coverage from ARAMARK will become secondary to any coverage afforded by the new employer. Employee's share of the premiums will be deducted from Employee's severance payments. Basic Group medical coverage provided during such period shall be applied against ARAMARK's obligation to continue group medical coverage under the Consolidated Omnibus Budget Reconciliation Act of 1985 ("COBRA"). Upon termination of basic group medical and life coverages, Employee may convert such coverages to individual policies to the extent allowable under the terms of the plans providing such coveragesplan provisions. (b) b. Employee's leased vehicle shall be made available to Employee through the Severance Pay Period at which time Employee has the option to either purchase the vehicle in accordance with the Executive Leadership Council policy plan then in effect or return it to ARAMARK. (c) c. Employee's eligibility to receive or participate in all other benefit and compensation plans, including, but not limited to the Management Incentive Bonus, Long Term Disability, Stock Unit Retirement, Deferred Compensation Retirement and any -5- stock option or ownership plans, shall terminate as of the effective date of Employee's termination unless provided otherwise under the terms of a particular plan, provided, however, that participation in plans and programs made available solely to Executive Leadership Council Corps members, including, but not limited to the Executive Leadership Council Corps Medical Plan, shall cease as of the effective date of termination or the date Employee's Executive Leadership Council Corps membership ceases, whichever occurs first. Employee, however, shall have certain rights to continue the Executive Leadership Council Corps Medical Plan under COBRA.

Appears in 1 contract

Samples: Employment Agreement (Aramark Corp)

Other Post-Employment Benefits. (a) a. Basic Group medical and life insurance coverages shall continue under then prevailing terms during the Severance Pay Period; provided, however, that if Employee becomes employed by a new employer during that period, continuing coverage from ARAMARK Aramark will become secondary to any coverage afforded by the new employer. Employee's ’s share of the premiums will be deducted from Employee's ’s severance payments. Basic Group medical coverage provided during such period shall be applied against ARAMARK's Aramark’s obligation to continue group medical coverage under the Consolidated Omnibus Budget Reconciliation Act of 1985 ("COBRA"). Upon termination of basic group medical and life coverages, Employee may convert such coverages to individual policies to the extent allowable under the terms of the plans providing such coverages. (b) Employee's b. If, at the time of termination, Aramark is providing Employee with a leased vehicle, then Aramark will continue to provide the leased vehicle shall be made available to Employee through the Severance Pay Period under the same terms and conditions as in effect at which the time of the Employee’s termination. At the expiration of the Severance Pay Period, Employee has must return the option leased vehicle to either Aramark unless the Employee elects to purchase the vehicle in accordance with the Executive Leadership Council policy then in effect or return it effect. If Employee is receiving a car allowance at the time of the Employee’s termination, such car allowance will continue to ARAMARKbe paid through the Severance Pay Period. At the expiration of the Severance Pay Period, the Employee will cease being paid a car allowance. (c) c. Employee's ’s eligibility to participate in all other benefit and compensation plans, including, but not limited to the Management Incentive Bonus, Long Term Disability, Stock Unit Retirementany nonqualified retirement plans, Deferred Compensation and any stock option or ownership plans, shall terminate as of the effective date of Employee's ’s termination unless provided otherwise under the terms of a particular plan;, provided, however, that participation in plans and programs made available solely to Executive Leadership Council members, including, but not limited to the Executive Leadership Council Medical Plan, shall cease as of the effective date of termination or the date Employee's ’s Executive Leadership Council Committee membership ceases, whichever occurs first. Employee, however, shall have certain rights to continue the Executive Leadership Council Medical Plan under COBRA. B. Termination for “Cause” shall be defined as termination of employment due to: (i) conviction or plea of guilty or nolo contendere to a felony, (ii) intentional fraud or dishonesty with respect to Aramark that causes material and demonstrable harm to Aramark, (iii) willful and continuous failure to perform lawfully assigned duties that are consistent with the Employee’s position with Aramark, (iv) willful violation of Aramark’s Business Conduct Policy that causes material harm to Aramark or its business reputation, or (v) intentionally working against the best interests of Aramark; in any case of conduct described in clause (ii)-(v), only if such conduct continues beyond ten business days after receipt by the Employee from Aramark of a written demand to cure such conduct.

Appears in 1 contract

Samples: Employment Agreement (Aramark)

Other Post-Employment Benefits. (a) Basic Group medical and life insurance coverages shall continue under then prevailing terms during the Severance Pay Period; provided, however, that if Employee becomes employed by a new employer during that period, continuing coverage from ARAMARK Aramark will become secondary to any coverage afforded by the new employer. Employee's ’s share of the premiums will be deducted from Employee's ’s severance payments. Basic Group medical coverage provided during such period shall be applied against ARAMARK's Aramark’s obligation to continue group medical coverage under the Consolidated Omnibus Budget Reconciliation Act of 1985 ("COBRA"). Upon termination of basic group medical and life coverages, Employee may convert such coverages to individual policies to the extent allowable under the terms of the plans providing such coverages. (b) Employee's If, at the time of termination, Aramark is providing Employee with a leased vehicle, then Aramark will continue to provide the leased vehicle shall be made available to Employee through the Severance Pay Period under the same terms and conditions as in effect at which the time of the Employee’s termination. At the expiration of the Severance Pay Period, Employee has must return the option leased vehicle to either Aramark unless the Employee elects to purchase the vehicle in accordance with the Executive Leadership Council policy then in effect or return it effect. If Employee is receiving a car allowance at the time of the Employee’s termination, such car allowance will continue to ARAMARKbe paid through the Severance Pay Period. At the expiration of the Severance Pay Period, the Employee will cease being paid a car allowance. (c) Employee's ’s eligibility to participate in all other benefit and compensation plans, including, but not limited to the Management Incentive Bonus, Long Term Disability, Stock Unit Retirementany qualified or nonqualified retirement plans, Deferred Compensation and any stock option equity incentive or ownership plans, shall terminate as of the effective date of Employee's ’s termination unless provided otherwise under the terms of a particular plan, ; provided, however, that participation in plans and programs made available solely to Executive Leadership Council members, including, but not limited to the Executive Leadership Council Medical Plan, shall cease as of the effective date of termination or the date Employee's ’s Executive Leadership Council membership ceases, whichever occurs first. Employee, however, shall have certain rights to continue the Executive Leadership Council Medical Plan under COBRA. (d) Within thirty days after the effective date of Employee’s termination for any reason, whether such termination is by Aramark with or without Cause or by Employee with or without Good Reason, Aramark shall pay Employee the portion of the base salary earned but unpaid through the termination date. Any bonus earned but unpaid as of the termination date for any previously completed fiscal year of Aramark, to the extent not previously deferred under a particular deferred compensation plan, and reimbursement for any unreimbursed expenses properly incurred by Employee in accordance with Company policies prior to the termination date, shall be paid no later than 90 days after the end of the calendar year. Employee shall also receive such employee benefits, if any, to which Employee may be entitled from time to time under the employee benefit or fringe benefit plans, policies or programs of the Company, in accordance with their respective terms, other than any Company severance policy (payments and benefits in this subsection (e), the “Accrued Benefits”). Payment of the Accrued Benefits shall not be conditioned upon and shall be payable without regard to Employee’s execution of the Release (as defined below).

Appears in 1 contract

Samples: Employment Agreement (Aramark)

Other Post-Employment Benefits. (a) a. Basic Group medical and life insurance coverages shall continue under then prevailing terms during the Severance Pay Period; provided, however, that if Employee becomes employed by a new employer during that period, continuing coverage from ARAMARK will become secondary to any coverage afforded by the new employer. Employee's ’s share of the premiums will be deducted from Employee's ’s severance payments. Basic Group medical coverage provided during such period shall be applied against ARAMARK's ’s obligation to continue group medical coverage under the Consolidated Omnibus Budget Reconciliation Act of 1985 ("COBRA"). Upon termination of basic group medical and life coverages, Employee may convert such coverages to individual policies to the extent allowable under the terms of the plans providing such coverages. (b) Employee's b. If, at the time of termination, ARAMARK is providing Employee with a leased vehicle, then ARAMARK will continue to provide the leased vehicle shall be made available to Employee through the Severance Pay Period under the same terms and conditions as in effect at which the time of the Employee’s termination. At the expiration of the Severance Pay Period, Employee has must return the option leased vehicle to either ARAMARK unless the Employee elects to purchase the vehicle in accordance with the Executive Leadership Council policy then in effect or return it effect. If Employee is receiving a car allowance at the time of the Employee’s termination, such car allowance will continue to ARAMARKbe paid through the Severance Pay Period. At the expiration of the Severance Pay Period, the Employee will cease being paid a car allowance. (c) c. Employee's ’s eligibility to participate in all other benefit and compensation plans, including, but not limited to the Management Incentive Bonus, Long Term Disability, Stock Unit Retirement, Deferred Compensation any nonqualified retirement plans and any stock option or ownership plans, shall terminate as of the effective date of Employee's ’s termination unless provided otherwise under the terms of a particular plan, provided, however, that participation in plans and programs made available solely to Executive Leadership Council members, including, but not limited to the Executive Leadership Council Medical Plan, shall cease as of the effective date of termination or the date Employee's ’s Executive Leadership Council membership ceases, whichever occurs first. Employee, however, shall have certain rights to continue the Executive Leadership Council Medical Plan under COBRA.

Appears in 1 contract

Samples: Employment Agreement (Aramark)

Other Post-Employment Benefits. (a) Basic Group medical and life insurance coverages shall continue under then prevailing terms during the Severance Pay Period; provided, however, that if Employee becomes employed by a new employer during that period, continuing coverage from ARAMARK Aramark will become secondary to any coverage afforded by the new employer. Employee's ’s share of the premiums will be deducted from Employee's ’s severance payments. Basic Group medical coverage provided during such period shall be applied against ARAMARK's Xxxxxxx’s obligation to continue group medical coverage under the Consolidated Omnibus Budget Reconciliation Act of 1985 ("COBRA"). Upon termination of basic group medical and life coverages, Employee may convert such coverages to individual policies to the extent allowable under the terms of the plans providing such coverages. (b) If Employee is receiving a car allowance at the time of Employee's leased vehicle shall ’s termination, such car allowance will continue to be made available to Employee paid through the Severance Pay Period at which time Period. At the expiration of the Severance Pay Period, Employee has the option to either purchase the vehicle in accordance with the Executive Leadership Council policy then in effect or return it to ARAMARKwill cease being paid a car allowance. (c) Employee's ’s eligibility to participate in all other benefit and compensation plans, including, but not limited to the Management Incentive Bonus, Long Term Disability, Stock Unit Retirement, Deferred Compensation any nonqualified plans and any stock option or ownership plans, shall terminate as of the effective date of Employee's ’s termination unless provided otherwise under either the terms of a particular planplan or a particular award agreement, provided, however, that participation in plans and programs made available solely to Executive Leadership Council members, including, but not limited to the Executive Leadership Council Medical Plan, shall cease as of the effective date of termination or the date Employee's ’s Executive Leadership Council membership ceases, whichever occurs first. Employee, however, shall have certain rights to continue the Executive Leadership Council Medical Plan under COBRA. B. Termination for “Cause” shall be defined as termination of employment due to: (i) conviction of or entry of a plea of guilty or nolo contendere to a felony (or any similar crime for purposes of laws outside the United States), (ii) fraud or dishonesty, (iii) willful failure to perform assigned duties, (iv) willful violation of Aramark’s Business Conduct Policy, or (v) intentionally working against the best interests of Aramark. C. If Employee’s employment is terminated (i) by Aramark for any reason other than Cause, (ii) by Employee due to a Spin Trigger Termination, or (iii) by Employee for Good Reason, Employee will receive the severance payments and other post-employment benefits during the Severance Pay Period even if Employee commences other employment during such period provided such employment does not violate the terms of Article 2, and subject to the provisions of Article 6.

Appears in 1 contract

Samples: Employment Agreement (Epic NewCo, Inc.)

Other Post-Employment Benefits. (a) Basic Group medical and life insurance coverages coverage shall continue under then prevailing terms during the Severance Pay Period; provided, however, that if Employee becomes employed by a new employer during that period, continuing coverage from ARAMARK Aramark will become secondary to any coverage afforded by the new employer. Employee's ’s share of the premiums will be deducted from Employee's ’s severance payments. Basic Group medical coverage provided during such period shall be applied against ARAMARK's Aramark’s obligation to continue group medical coverage under the Consolidated Omnibus Budget Reconciliation Act of 1985 ("COBRA"). Upon termination of basic group medical and life coveragescoverage, Employee may convert such coverages coverage to individual policies to the extent allowable under the terms of the plans providing such coveragescoverage. (b) Employee's leased vehicle shall be made available to Employee through the Severance Pay Period at which time Employee has the option to either purchase the vehicle in accordance with the Executive Leadership Council policy then in effect or return it to ARAMARK. (c) Employee's ’s eligibility to participate in all other benefit and compensation plans, including, but not limited to the Management Incentive Bonus, Long Term Disability, Stock Unit Retirementany nonqualified retirement plans, Deferred Compensation and any stock option or ownership plans, shall terminate as of the effective date of Employee's ’s termination unless provided otherwise under the terms of a particular plan, ; provided, however, that participation in plans and programs made available solely to Executive Leadership Council members, including, but not limited to the Executive Leadership Council Medical Plan, shall cease as of the effective date of termination or the date Employee's ’s Executive Leadership Council membership ceases, whichever occurs first. Employee, however, shall have certain rights to continue the Executive Leadership Council Medical Plan under COBRA. (c) Within thirty days after the effective date of Employee’s termination for any reason, whether such termination is by Aramark with or without Cause or by Employee with or without Good Reason, Aramark shall pay Employee the portion of the Base Salary earned but unpaid through the termination date. Any bonus earned but unpaid as of the termination date for any previously completed fiscal year of Aramark, to the extent not previously deferred under a particular deferred compensation plan, and reimbursement for any unreimbursed expenses properly incurred by Employee in accordance with Company policies prior to the termination date, shall be paid no later than 90 days after the end of the calendar year. Employee shall also receive such employee benefits, if any, to which Employee may be entitled from time to time under the employee benefit or fringe benefit plans, policies or programs of the Company, in accordance with their respective terms, other than any Company severance policy (payments and benefits in this subsection (c), the “Accrued Benefits”). Payment of the Accrued Benefits shall not be conditioned upon and shall be payable without regard to Employee’s execution of the Release (as defined below).

Appears in 1 contract

Samples: Employment Agreement (Aramark)

Other Post-Employment Benefits. (a) Basic Group medical and life insurance coverages shall continue under then prevailing terms during the Severance Pay Period; provided, however, that if Employee becomes employed by a new employer during that period, continuing coverage from ARAMARK Aramark will become secondary to any coverage afforded by the new employer. Employee's ’s share of the premiums will be deducted from Employee's ’s severance payments. Basic Group medical coverage provided during such period shall be applied against ARAMARK's Aramark’s obligation to continue group medical coverage under the Consolidated Omnibus Budget Reconciliation Act of 1985 ("COBRA"). Upon termination of basic group medical and life coverages, Employee may convert such coverages to individual policies to the extent allowable under the terms of the plans providing such coverages. (b) If Employee is receiving a car allowance at the time of the Employee's leased vehicle shall ’s termination, such car allowance will continue to be made available to Employee paid through the Severance Pay Period at which time Period. At the expiration of the Severance Pay Period, the Employee has the option to either purchase the vehicle in accordance with the Executive Leadership Council policy then in effect or return it to ARAMARKwill cease being paid a car allowance. (c) Until the earlier to occur of (i) the last day of the Severance Pay Period or (ii) the date Employee becomes employed by a new employer, Aramark shall reimburse all reasonable expenses incurred by Employee for professional outplacement services by qualified consultants employed by a recognized outplacement services firm selected by Employee's , in an amount not to exceed 10% of the Employee’s Base Salary at the time of termination, without regard to any temporary salary reduction that may be in effect at such date due to material market disruptions resulting from the impact of the COVID-19 (or other) pandemic. (d) Employee’s eligibility to participate in all other benefit and compensation plans, including, but not limited to the Management Incentive Bonus, Long Term Disability, Stock Unit Retirementany qualified or nonqualified retirement plans, Deferred Compensation and any stock option equity incentive or ownership plans, shall terminate as of the effective date of Employee's ’s termination unless provided otherwise under the terms of a particular plan, ; provided, however, that participation in plans and programs made available solely to Executive Leadership Council members, including, but not limited to the Executive Leadership Council Medical Plan, shall cease as of the effective date of termination or the date Employee's ’s Executive Leadership Council membership ceases, whichever occurs first. Employee, however, shall have certain rights to continue the Executive Leadership Council Medical Plan under COBRA.

Appears in 1 contract

Samples: Employment Agreement (Epic NewCo, Inc.)

Other Post-Employment Benefits. (a) Basic Group medical and life insurance coverages shall continue under then prevailing terms during the Severance Pay Period; provided, however, that if Employee becomes employed by a new employer during that period, continuing coverage from ARAMARK will become secondary to any coverage afforded by the new employer. Employee's ’s share of the premiums will be deducted from Employee's ’s severance payments. Basic Group medical coverage provided during such period shall be applied against ARAMARK's ’s obligation to continue group medical coverage under the Consolidated Omnibus Budget Reconciliation Act of 1985 ("COBRA"). Upon termination of basic group medical and life coverages, Employee may convert such coverages to individual policies to the extent allowable under the terms of the plans providing such coverages. (b) Employee's If, at the time of termination, ARAMARK is providing Employee with a leased vehicle, then ARAMARK will continue to provide the leased vehicle shall be made available to Employee through the Severance Pay Period under the same terms and conditions as in effect at which the time of the Employee’s termination. At the expiration of the Severance Pay Period, Employee has must return the option leased vehicle to either ARAMARK unless the Employee elects to purchase the vehicle in accordance with the Executive Leadership Council policy then in effect or return it effect. If Employee is receiving a car allowance at the time of the Employee’s termination, such car allowance will continue to ARAMARKbe paid through the Severance Pay Period. At the expiration of the Severance Pay Period, the Employee will cease being paid a car allowance. (c) Employee's ’s eligibility to participate in all other benefit and compensation plans, including, but not limited to the Management Incentive Bonus, Long Term Disability, Stock Unit Retirement, Deferred Compensation any nonqualified retirement plans and any stock option or ownership plans, shall terminate as of the effective date of Employee's ’s termination unless provided otherwise under the terms of a particular plan, provided, however, that participation in plans and programs made available solely to Executive Leadership Council members, including, but not limited to the Executive Leadership Council Medical Plan, shall cease as of the effective date of termination or the date Employee's ’s Executive Leadership Council membership ceases, whichever occurs first. Employee, however, shall have certain rights to continue the Executive Leadership Council Medical Plan under COBRA.

Appears in 1 contract

Samples: Employment Agreement (Aramark Corp)

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Other Post-Employment Benefits. (a) Basic Group medical and life insurance coverages shall continue under then prevailing terms during the Severance Pay Period; provided, however, that if Employee becomes employed by a new employer during that period, continuing coverage from ARAMARK Aramark will become secondary to any coverage afforded by the new employer. Employee's ’s share of the premiums will be deducted from Employee's ’s severance payments. Basic Group medical coverage provided during such period shall be applied against ARAMARK's Aramark’s obligation to continue group medical coverage under the Consolidated Omnibus Budget Reconciliation Act of 1985 ("COBRA"). Upon termination of basic group medical and life coverages, Employee may convert such coverages to individual policies to the extent allowable under the terms of the plans providing such coverages. (b) Employee's If, at the time of termination, Aramark is providing Employee with a leased vehicle, then Aramark will continue to provide the leased vehicle shall be made available to Employee through the Severance Pay Period under the same terms and conditions as in effect at which the time of the Employee’s termination. At the expiration of the Severance Pay Period, Employee has must return the option leased vehicle to either Aramark unless the Employee elects to purchase the vehicle in accordance with the Executive Leadership Council policy then in effect or return it effect. If Employee is receiving a car allowance at the time of the Employee’s termination, such car allowance will continue to ARAMARKbe paid through the Severance Pay Period. At the expiration of the Severance Pay Period, the Employee will cease being paid a car allowance. (c) Employee's ’s eligibility to participate in all other benefit and compensation plans, including, but not limited to the Management Incentive Bonus, Long Term Disability, Stock Unit Retirement, Deferred Compensation any nonqualified plans and any stock option or ownership plans, shall terminate as of the effective date of Employee's ’s termination unless provided otherwise under the terms of a particular plan, provided, however, that participation in plans and programs made available solely to Executive Leadership Council members, including, but not limited to the Executive Leadership Council Medical Plan, shall cease as of the effective date of termination or the date Employee's ’s Executive Leadership Council membership ceases, whichever occurs first. Employee, however, shall have certain rights to continue the Executive Leadership Council Medical Plan under COBRA.

Appears in 1 contract

Samples: Employment Agreement (Vestis Corp)

Other Post-Employment Benefits. (a) Basic Group medical and life insurance coverages shall continue under then prevailing terms during the Severance Pay Period; provided, however, that if Employee becomes employed by a new employer during that period, continuing coverage from ARAMARK will become secondary to any coverage afforded by the new employer. Employee's ’s share of the premiums will be deducted from Employee's ’s severance payments. Basic Group medical coverage provided during such period shall be applied against ARAMARK's ’s obligation to continue group medical coverage under the Consolidated Omnibus Budget Reconciliation Act of 1985 ("COBRA"). Upon termination of basic group medical and life coverages, Employee may convert such coverages to individual policies to the extent allowable under the terms of the plans providing such coverages. (b) Employee's If, at the time of termination, ARAMARK is providing Employee with a leased vehicle, then ARAMARK will continue to provide the leased vehicle shall be made available to Employee through the Severance Pay Period under the same terms and conditions as in effect at which the time of the Employee’s termination. At the expiration of the Severance Pay Period, Employee has must return the option leased vehicle to either ARAMARK unless the Employee elects to purchase the vehicle in accordance with the Executive Leadership Council policy then in effect or return it effect. If Employee is receiving a car allowance at the time of the Employee’s termination, such car allowance will continue to ARAMARKbe paid through the Severance Pay Period. At the expiration of the Severance Pay Period, the Employee will cease being paid a car allowance. (c) Employee's ’s eligibility to participate in all other benefit and compensation plans, including, but not limited to the Management Incentive Bonus, Long Term Disability, Stock Unit Retirement, Deferred Compensation any nonqualified plans and any stock option or ownership plans, shall terminate as of the effective date of Employee's ’s termination unless provided otherwise under the terms of a particular plan, provided, however, that participation in plans and programs made available solely to Executive Leadership Council members, including, but not limited to the Executive Leadership Council Medical Plan, shall cease as of the effective date of termination or the date Employee's ’s Executive Leadership Council membership ceases, whichever occurs first. Employee, however, shall have certain rights to continue the Executive Leadership Council Medical Plan under COBRA.

Appears in 1 contract

Samples: Employment Agreement (Harry M. Stevens, Inc. Of Penn.)

Other Post-Employment Benefits. (a) Basic Group medical and life insurance coverages shall continue under then prevailing terms during the Severance Pay Period; provided, however, that if Employee becomes employed by a new employer during that period, continuing coverage from ARAMARK Aramark will become secondary to any coverage afforded by the new employer. Employee's ’s share of the premiums will be deducted from Employee's ’s severance payments. Basic Group medical coverage provided during such period shall be applied against ARAMARK's Aramark’s obligation to continue group medical coverage under the Consolidated Omnibus Budget Reconciliation Act of 1985 ("COBRA"). Upon termination of basic group medical and life coverages, Employee may convert such coverages to individual policies to the extent allowable under the terms of the plans providing such coverages. (b) If Employee is receiving a car allowance at the time of the Employee's leased vehicle shall ’s termination, such car allowance will continue to be made available to Employee paid through the Severance Pay Period at which time Period. At the expiration of the Severance Pay Period, the Employee has the option to either purchase the vehicle in accordance with the Executive Leadership Council policy then in effect or return it to ARAMARKwill cease being paid a car allowance. (c) Until the earlier to occur of (i) the last day of the Severance Pay Period or (ii) the date Employee becomes employed by a new employer, Aramark shall reimburse all reasonable expenses incurred by Employee for professional outplacement services by qualified consultants employed by a recognized outplacement services firm selected by Employee's , in an amount not to exceed 10% of the Employee’s base salary at the time of termination. (d) Employee’s eligibility to participate in all other benefit and compensation plans, including, but not limited to the Management Incentive Bonus, Long Term Disability, Stock Unit Retirementany qualified or nonqualified retirement plans, Deferred Compensation and any stock option equity incentive or ownership plans, shall terminate as of the effective date of Employee's ’s termination unless provided otherwise under the terms of a particular plan, ; provided, however, that participation in plans and programs made available solely to Executive Leadership Council members, including, but not limited to the Executive Leadership Council Medical Plan, members shall cease as of the effective date of termination or the date Employee's ’s Executive Leadership Council membership ceases, whichever occurs first. Employee, however, shall have certain rights to continue the Executive Leadership Council Medical Plan under COBRA.

Appears in 1 contract

Samples: Employment Agreement (Aramark)

Other Post-Employment Benefits. (a) a. Basic Group medical and life insurance coverages shall continue under then prevailing terms during the Severance Pay Period; provided, however, that if Employee becomes employed by a new employer during that period, continuing coverage from ARAMARK will become secondary to any coverage afforded by the new employer. Employee's share of the premiums will be deducted from Employee's severance payments. , Basic Group medical coverage provided during such period shall be applied against ARAMARK's obligation to continue group medical coverage under the Consolidated Omnibus Budget Reconciliation Act of 1985 ("COBRA"). Upon termination of basic group medical and life coverages, Employee may convert such coverages to individual policies to the extent allowable under the terms of the plans providing such coveragesplan provisions. (b) b. Employee's leased vehicle shall be made available to Employee through the Severance Pay Period at which time Employee has the option to either purchase the vehicle in accordance with the Executive Leadership Council policy plan then in effect or return it to ARAMARK. (c) c. Employee's eligibility to receive or participate in all other benefit and compensation plans, including, but not limited to the Management Incentive Bonus, Long Term Disability, Stock Unit Retirement, Deferred Compensation Retirement and any stock option or ownership plans, shall terminate as of the effective date of Employee's termination unless provided otherwise under the terms of a particular plan, provided, however, that participation in plans and programs made available solely to Executive Leadership Council members, including, but not limited to the Executive Leadership Council Medical Plan, shall cease as of the effective date of termination or the date Employee's Executive Leadership Council membership ceases, whichever occurs first. Employee, however, shall have certain rights to continue the Executive Leadership Council Medical Plan under COBRA. B. Termination for "Good and sufficient cause" shall be defined as termination for such things as fraud or dishonesty, willful failure to perform assigned duties, willful violation of ARAMARK's Business Conduct Policy, or intentionally working against the best interest of ARAMARK. C. If Employee is terminated by ARAMARK for reasons other than good and sufficient cause, Employee will receive the severance payments and other post-employment benefits during the Severance Pay Period even if Employee commences other employment during such period provided such employment does not violate the terms of Article 2. D. ARAMARK reserves the right to terminate all severance payments and other post-employment benefits if Employee violates the covenants set forth in Articles 1, 2 and 3 above. E. ARAMARK expressly reserves the rights to revoke or amend, in whole or in part, the severance provisions set forth in this agreement at any time, for any reason, provided, however, in the event Employee is terminated for reasons other than good and sufficient cause subsequent to such revocation or amendment, Employee shall be entitled to no less than the monthly severance payments which Employee would have received under this Agreement had he been terminated by ARAMARK on the date ARAMARK elected to revoke or amend the severance provisions.

Appears in 1 contract

Samples: Employment Agreement (Aramark Corp)

Other Post-Employment Benefits. (“OPEB”) 1. Other Post-Employment Benefits (OPEB) means group insurance benefits provided by the University to retirees and their beneficiaries in respect of coverage under life insurance and supplementary health and dental plans. 2. Consistent with past practice, former employees who are deferred pensioners within the meaning of the Memorial University Pension Plan are not entitled to OPEB. 3. Current employees as of the date of signing of the collective agreement who retire with an immediate pension not later than March 31, 2024, with a minimum of five (5) years' pensionable service shall qualify for OPEB. 4. Current employees as of the date of signing of the collective agreement who retire after March 31, 2024 and who have a minimum of 10 years pensionable service shall be eligible for OPEB upon immediate retirement. 5. As per clauses 3 and 4, current employees must retire and commence receipt of a pension immediately on ceasing active employment at the University to qualify for OPEB. Such employees shall pay 50% of the premium applicable to the group insurance plans they elect to continue and the University shall pay 50%. 6. Employees who are hired subsequent to the date of signing of the collective agreement ("Newly Hired Employees"), shall qualify for OPEB only where such employees have a minimum of fifteen (15) years' pensionable service and commence receipt of a pension immediately on ceasing active employment. 7. Former employees who are rehired following loss of seniority subsequent to the date of signing of the collective agreement shall be considered to be Newly Hired Employees for the purpose of OPEB eligibility. 8. Notwithstanding clause 7 above, employees with service prior to the date of signing of the Collective Agreement who are employed outside the bargaining unit and are re-employed in a CUPE bargaining unit position subsequent to the date of signing of the Collective Agreement without a break in service at the University shall not be considered to be Newly Hired Employees for the purpose of OPEB eligibility. 9. Employees who do not meet the criteria noted in clauses 3, 4 or 6 above shall not be entitled to OPEB on ceasing active employment at the University. 10. Newly hired employees who become entitled to OPEB pursuant to clause 6 above shall pay premiums of the plan based on the number of completed years' of pensionable service as follows: (a) Basic Group medical and life insurance coverages shall continue under then prevailing terms during the Severance Pay Period; providedall current employees as of March 31, however2020, that if Employee becomes employed by a new employer during that period, continuing coverage from ARAMARK will become secondary to any coverage afforded by the new employer. Employee's share of the premiums will be deducted from Employee's severance payments. Basic Group medical coverage provided during such period shall be applied against ARAMARK's obligation to continue group medical coverage under the Consolidated Omnibus Budget Reconciliation Act of 1985 ("COBRA"). Upon termination of basic group medical and life coverages, Employee may convert such coverages to individual policies to the extent allowable under the terms of the plans providing such coverages.eligible for 50/50 premium sharing if they qualify for post-employment benefit coverage, (b) Employee's leased vehicle all employees hired after March 31, 2020, will share 60% (employee) and 40% (employer) if they qualify for post-employment benefit coverage. 11. Former employees who are rehired subsequent to March 31, 2020, and who become entitled to OPEB pursuant to clause 6 above shall be made available required to Employee through the Severance Pay Period at which time Employee has the option to either purchase the vehicle pay premiums in accordance with the Executive Leadership Council policy then in effect or return it to ARAMARKclause 10(b) above. (c) Employee's eligibility to participate in all other benefit and compensation plans, including, but not 12. This Clause shall be limited to eligibility conditions for OPEB only and shall not replace or expand upon existing collective agreement provisions pertaining to group insurance plans offered by the Management Incentive Bonus, Long Term Disability, Stock Unit Retirement, Deferred Compensation and any stock option or ownership plans, shall terminate as of the effective date of Employee's termination unless provided otherwise under the terms of a particular plan, provided, however, that participation University. 13. Nothing in plans and programs made available solely to Executive Leadership Council members, including, but not limited to the Executive Leadership Council Medical Plan, shall cease as of the effective date of termination or the date Employee's Executive Leadership Council membership ceases, whichever occurs first. Employee, however, this Clause shall have certain rights to continue the Executive Leadership Council Medical Plan effect of waiving or negating, in whole or in part, any requirement, procedural or substantive, under COBRAa Group Health and Life Insurance program or policy sponsored by the employer, e.g., the filing of continuation or other required forms, provision of proof of insurability, etc.

Appears in 1 contract

Samples: Collective Agreement

Other Post-Employment Benefits. (a) Basic Group medical medical, dental and life insurance coverages vision coverage shall continue under then prevailing terms during to be provided to the Severance Pay Employee and his eligible dependents on substantially the same terms, costs and conditions as applied immediately prior to the effective date of termination, for the period commencing on the effective date of termination and ending on the date on which Employee turns age 65 (the “Health Coverage Period”), subject to any changes to such coverage or costs that apply to similarly situated active employees of Aramark generally; provided, however, that if the Employee becomes employed by a new employer during that periodthe Health Coverage Period, continuing coverage from ARAMARK Aramark hereunder and the Health Coverage Period will become secondary immediately terminate, so long as the Employee elects to any participate in such new employer’s coverage. During the Health Coverage Period, the Employee shall pay the employee portion of the applicable monthly premiums due in respect of such medical, dental and vision coverage afforded received by the new employer. Employee's share of Employee and his eligible dependents, on the premiums will be deducted from Employee's severance payments. Basic Group medical coverage provided same terms and conditions (including premium amount and payment timing) that the Employee would have paid had he remained employed during such month (the “Employee Premium Payments”); provided, however, that if the Employee fails to make any Employee Premium Payments for a period of 90 consecutive days, Aramark shall be applied against ARAMARK's have the right in its sole discretion to immediately terminate such continuing coverage, subject to Aramark’s obligation to continue to provide the Employee with group medical medical, dental and vision coverage under the Consolidated Omnibus Budget Reconciliation Act of 1985 ("COBRA"). Upon termination Notwithstanding the foregoing, Aramark reserves the right to restructure the foregoing arrangement during the Health Coverage Period in any manner necessary or appropriate to avoid fines, penalties or negative tax consequences to Aramark or the Employee (including, without limitation, to avoid any penalty imposed for violation of basic group medical the nondiscrimination requirements under the Patient Protection and life coveragesAffordable Care Act or the guidance issued thereunder), Employee may convert as determined by Aramark in its sole and absolute discretion; provided, however, that any such coverages to individual policies restructure to the extent allowable arrangement will not result in a material cost increase to the Employee. Basic Group medical, dental and vision coverage provided during the Health Coverage Period shall be applied against Aramark’s obligation to continue group medical, dental and vision coverage under COBRA. For the terms avoidance of doubt, Executive Leadership Council Medical Plan coverage shall not continue during the plans providing such coveragesHealth Coverage Period. (b) Employee's If, at the time of termination, Aramark is providing Employee with a leased vehicle, then Aramark will continue to provide the leased vehicle shall be made available to Employee through the Severance Pay Period under the same terms and conditions as in effect at which the time of the Employee’s termination. At the expiration of the Severance Pay Period, Employee has must return the option leased vehicle to either Aramark unless the Employee elects to purchase the vehicle in accordance with the Executive Leadership Council policy then in effect or return it effect. If Employee is receiving a car allowance at the time of the Employee’s termination, such car allowance will continue to ARAMARKbe paid through the Severance Pay Period. At the expiration of the Severance Pay Period, the Employee will cease being paid a car allowance. (c) Until the earlier to occur of (i) the last day of the Severance Pay Period or (ii) the date Employee becomes employed by a new employer, Aramark shall reimburse all reasonable expenses incurred by Employee for professional outplacement services by qualified consultants employed by a recognized outplacement services firm selected by Employee's , in an amount not to exceed 10% of the Employee’s base salary at the time of termination, without regard to any temporary salary reduction that may be in effect at such date due to material market disruptions resulting from the impact of the COVID-19 (or other) pandemic. (d) Employee’s eligibility to participate in all other benefit and compensation plans, including, but not limited to the Management Incentive Bonus, Long Term Disability, Stock Unit Retirementany qualified or nonqualified retirement plans, Deferred Compensation and any stock option equity incentive or ownership plans, shall terminate as of the effective date of Employee's ’s termination unless provided otherwise under the terms of a particular plan, ; provided, however, that participation in plans and programs made available solely to Executive Leadership Council members, including, but not limited to the Executive Leadership Council Medical Plan, shall cease as of the effective date of termination or the date Employee's ’s Executive Leadership Council membership ceases, whichever occurs first. Employee, however, shall have certain rights to continue the Executive Leadership Council Medical Plan under COBRA.

Appears in 1 contract

Samples: Employment Agreement (Aramark)

Other Post-Employment Benefits. (a) Basic Group medical and life insurance coverages shall continue under then prevailing terms during the Severance Pay Period; provided, however, that if Employee becomes employed by a new employer during that period, continuing coverage from ARAMARK Aramark will become secondary to any coverage afforded by the new employer. Employee's ’s share of the premiums will be deducted from Employee's ’s severance payments. Basic Group medical coverage provided during such period shall be applied against ARAMARK's obligation Aramark’x xxxxxation to continue group medical coverage under the Consolidated Omnibus Budget Reconciliation Act of 1985 ("COBRA"). Upon termination of basic group medical and life coverages, Employee may convert such coverages to individual policies to the extent allowable under the terms of the plans providing such coverages. (b) If Employee is receiving a car allowance at the time of the Employee's leased vehicle shall ’s termination, such car allowance will continue to be made available to Employee paid through the Severance Pay Period at which time Period. At the expiration of the Severance Pay Period, the Employee has the option to either purchase the vehicle in accordance with the Executive Leadership Council policy then in effect or return it to ARAMARKwill cease being paid a car allowance. (c) Until the earlier to occur of (i) the last day of the Severance Pay Period or (ii) the date Employee becomes employed by a new employer, Aramark shall reimburse all reasonable expenses incurred by Employee for professional outplacement services by qualified consultants employed by a recognized outplacement services firm selected by Employee's , in an amount not to exceed 10% of the Employee’s base salary at the time of termination. (d) Employee’s eligibility to participate in all other benefit and compensation plans, including, but not limited to the Management Incentive Bonus, Long Term Disability, Stock Unit Retirementany qualified or nonqualified retirement plans, Deferred Compensation and any stock option equity incentive or ownership plans, shall terminate as of the effective date of Employee's ’s termination unless provided otherwise under the terms of a particular plan, ; provided, however, that participation in plans and programs made available solely to Executive Leadership Council members, including, but not limited to the Executive Leadership Council Medical Plan, members shall cease as of the effective date of termination or the date Employee's ’s Executive Leadership Council membership ceases, whichever occurs first. Employee, however, shall have certain rights to continue the Executive Leadership Council Medical Plan under COBRA.

Appears in 1 contract

Samples: Employment Agreement (Aramark)

Other Post-Employment Benefits. (a) a. Basic Group medical and life insurance coverages shall continue under then prevailing terms during the Severance Pay Period; provided, however, that if Employee becomes employed by a new employer during that period, continuing coverage from ARAMARK will become secondary to any coverage afforded by the new employer. Employee's Employee*s share of the premiums will be deducted from Employee's Employee*s severance payments. Basic Group medical coverage provided during such period shall be applied against ARAMARK's ARAMARK*s obligation to continue group medical coverage under the Consolidated Omnibus Budget Reconciliation Act of 1985 ("COBRA"). Upon termination of basic group medical and life coverages, Employee may convert such coverages to individual policies to the extent allowable under the terms of the plans providing such coveragesplan provisions. (b) Employee's b. Employee*s leased vehicle shall be made available to Employee through the Severance Pay Period at which time Employee has the option to either purchase the vehicle in accordance with the Executive Leadership Council policy Corps plan then in effect or return it to ARAMARK. (c) Employee's c. Employee*s eligibility to receive or participate in all other benefit and compensation plans, including, but not limited to the Management Incentive Bonus, Long Term Disability, Stock Unit Retirement, Deferred Compensation Retirement and any stock option or ownership plans, shall terminate as of the effective date of Employee's Employee*s termination unless provided otherwise under the terms of a particular plan, provided, however, that participation in plans and programs made available solely to Executive Leadership Council Corps members, including, but not limited to the Executive Leadership Council Corps Medical Plan, shall cease as of the effective date of termination or the date Employee's Employee*s Executive Leadership Council Corps membership ceases, whichever occurs first. Employee, however, shall have certain rights to continue the Executive Leadership Council Corps Medical Plan under COBRA.

Appears in 1 contract

Samples: Employment Agreement (Aramark Corp)

Other Post-Employment Benefits. (a) Basic Group medical and life insurance coverages shall continue under then prevailing terms during the Severance Pay Period; provided, however, that if Employee becomes employed by a new employer during that period, continuing coverage from ARAMARK Aramark will become secondary to any coverage afforded by the new employer. Employee's ’s share of the premiums will be deducted from Employee's ’s severance payments. Basic Group medical coverage provided during such period shall be applied against ARAMARK's Aramark’s obligation to continue group medical coverage under the Consolidated Omnibus Budget Reconciliation Act of 1985 ("COBRA"). Upon termination of basic group medical and life coverages, Employee may convert such coverages to individual policies to the extent allowable under the terms of the plans providing such coverages. (b) Employee's If, at the time of termination, Aramark is providing Employee with a leased vehicle, then Aramark will continue to provide the leased vehicle shall be made available to Employee through the Severance Pay Period under the same terms and conditions as in effect at which the time of the Employee’s termination. At the expiration of the Severance Pay Period, Employee has must return the option leased vehicle to either Aramark unless the Employee elects to purchase the vehicle in accordance with the Executive Leadership Council policy then in effect or return it effect. If Employee is receiving a car allowance at the time of the Employee’s termination, such car allowance will continue to ARAMARKbe paid through the Severance Pay Period. At the expiration of the Severance Pay Period, the Employee will cease being paid a car allowance. (c) Employee's ’s eligibility to participate in all other benefit and compensation plans, including, but not limited to the Management Incentive Bonus, Long Term Disability, Stock Unit Retirementany nonqualified retirement plans, Deferred Compensation and any stock option or ownership plans, shall terminate as of the effective date of Employee's ’s termination unless provided otherwise under the terms of a particular plan, provided, however, that participation in plans and programs made available solely to Executive Leadership Council members, including, but not limited to the Executive Leadership Council Medical Plan, shall cease as of the effective date of termination or the date Employee's ’s Executive Leadership Council Committee membership ceases, whichever occurs first. Employee, however, shall have certain rights to continue the Executive Leadership Council Medical Plan under COBRA.

Appears in 1 contract

Samples: Employment Agreement (Aramark)

Other Post-Employment Benefits. (a) Basic Group medical and life insurance coverages coverage’s shall continue under then prevailing terms during the Severance Pay Period; provided, however, that if Employee becomes employed by a new employer during that period, continuing coverage from ARAMARK will become secondary to any coverage afforded by the new employer. Employee's ’s share of the premiums will be deducted from Employee's ’s severance payments. Basic Group medical coverage provided during such period shall be applied against ARAMARK's ’s obligation to continue group medical coverage under the Consolidated Omnibus Budget Reconciliation Act of 1985 ("COBRA"). Upon termination of basic group medical and life coverages, Employee may convert such coverages to individual policies to the extent allowable under the terms of the plans providing such coverages. (b) Employee's ’s leased vehicle shall be made available to Employee through the Severance Pay Period at which time Employee has the option to either purchase the vehicle in accordance with the Executive Leadership Council policy then in effect or return it to ARAMARK. (c) Employee's ’s eligibility to participate in all other benefit and compensation plans, including, but not limited to the Management Incentive Bonus, Long Term Disability, Stock Unit Retirement, Deferred Compensation and any stock option or ownership plans, shall terminate as of the effective date of Employee's ’s termination unless provided otherwise under the terms of a particular plan, provided, however, that participation in plans and programs made available solely to Executive Leadership Council members, including, but not limited to the Executive Leadership Council Medical Plan, shall cease as of the effective date of termination or the date Employee's ’s Executive Leadership Council membership ceases, whichever occurs first. Employee, however, shall have certain rights to continue the Executive Leadership Council Medical Plan under COBRA.

Appears in 1 contract

Samples: Employment Agreement (Aramark Corp/De)

Other Post-Employment Benefits. (a) a. Basic Group medical and life insurance coverages shall continue under then prevailing terms during the Severance Pay Period; provided, however, that if Employee becomes employed by a new employer during that period, continuing coverage from ARAMARK will become secondary to any coverage afforded by the new employer. Employee's share of the premiums will be deducted from Employee's severance payments. Basic Group medical coverage provided during such period shall be applied against ARAMARK's obligation to continue group medical coverage under the Consolidated Omnibus Budget Reconciliation Act of 1985 ("COBRA"). Upon termination of basic group medical and life coverages, Employee may convert such coverages to individual policies to the extent allowable under the terms of the plans providing such coveragesplan provisions. (b) b. Employee's leased vehicle shall be made available to Employee through the Severance Pay Period at which time Employee has the option to either purchase the vehicle in accordance with the Executive Leadership Council policy plan then in effect or return it to ARAMARK. (c) c. Employee's eligibility to receive or participate in all other benefit and compensation plans, including, but not limited to the Management Incentive Bonus, Long Term Disability, Stock Unit Retirement, Deferred Compensation Retirement and any stock option or ownership plans, shall terminate as of the effective date of Employee's termination unless provided otherwise under the terms of a particular plan, provided, however, that participation in plans and programs made available solely to Executive Leadership Council members, including, but not limited to the Executive Leadership Council Medical Plan, shall cease as of the effective date of termination or the date Employee's Executive Leadership Council membership ceases, whichever occurs first. Employee, however, shall have certain rights to continue the Executive Leadership Council Medical Plan under COBRA.

Appears in 1 contract

Samples: Employment Agreement (Aramark Corp)

Other Post-Employment Benefits. (a) Basic Group medical medical, dental and life insurance coverages vision coverage shall continue under then prevailing terms during to be provided to the Severance Pay Employee and his eligible dependents on substantially the same terms, costs and conditions as applied immediately prior to the effective date of termination, for the period commencing on the effective date of termination and ending on the date on which Employee turns age 65 (the “Health Coverage Period”), subject to any changes to such coverage or costs that apply to similarly situated active employees of Aramark generally; provided, however, that if the Employee becomes employed by a new employer during that periodthe Health Coverage Period, continuing coverage from ARAMARK Aramark hereunder and the Health Coverage Period will become secondary immediately terminate, so long as the Employee elects to any participate in such new employer’s coverage. During the Health Coverage Period, the Employee shall pay the employee portion of the applicable monthly premiums due in respect of such medical, dental and vision coverage afforded received by the new employer. Employee's share of Employee and his eligible dependents, on the premiums will be deducted from Employee's severance payments. Basic Group medical coverage provided same terms and conditions (including premium amount and payment timing) that the Employee would have paid had he remained employed during such month (the “Employee Premium Payments”); provided, however, that if the Employee fails to make any Employee Premium Payments for a period of 90 consecutive days, Aramark shall be applied against ARAMARK's have the right in its sole discretion to immediately terminate such continuing coverage, subject to Aramark’s obligation to continue to provide the Employee with group medical medical, dental and vision coverage under the Consolidated Omnibus Budget Reconciliation Act of 1985 ("COBRA"). Upon termination Notwithstanding the foregoing, Aramark reserves the right to restructure the foregoing arrangement during the Health Coverage Period in any manner necessary or appropriate to avoid fines, penalties or negative tax consequences to Aramark or the Employee (including, without limitation, to avoid any penalty imposed for violation of basic group medical the nondiscrimination requirements under the Patient Protection and life coveragesAffordable Care Act or the guidance issued thereunder), Employee may convert as determined by Aramark in its sole and absolute discretion; provided, however, that any such coverages to individual policies restructure to the extent allowable arrangement will not result in a material cost increase to the Employee. Basic Group medical, dental and vision coverage provided during the Health Coverage Period shall be applied against Aramark’s obligation to continue group medical, dental and vision coverage under COBRA. For the terms avoidance of doubt, Executive Leadership Council Medical Plan coverage shall not continue during the plans providing such coveragesHealth Coverage Period. (b) Employee's If, at the time of termination, Aramark is providing Employee with a leased vehicle, then Aramark will continue to provide the leased vehicle shall be made available to Employee through the Severance Pay Period under the same terms and conditions as in effect at which the time of the Employee’s termination. At the expiration of the Severance Pay Period, Employee has must return the option leased vehicle to either Aramark unless the Employee elects to purchase the vehicle in accordance with the Executive Leadership Council policy then in effect or return it effect. If Employee is receiving a car allowance at the time of the Employee’s termination, such car allowance will continue to ARAMARKbe paid through the Severance Pay Period. At the expiration of the Severance Pay Period, the Employee will cease being paid a car allowance. (c) Employee's ’s eligibility to participate in all other benefit and compensation plans, including, but not limited to the Management Incentive Bonus, Long Term Disability, Stock Unit Retirementany nonqualified retirement plans, Deferred Compensation and any stock option or ownership plans, shall terminate as of the effective date of Employee's ’s termination unless provided otherwise under the terms of a particular plan, ; provided, however, that participation in plans and programs made available solely to Executive Leadership Council members, including, but not limited to the Executive Leadership Council Medical Plan, shall cease as of the effective date of termination or the date Employee's ’s Executive Leadership Council Committee membership ceases, whichever occurs first. Employee, however, shall have certain rights to continue the Executive Leadership Council Medical Plan under COBRA.

Appears in 1 contract

Samples: Employment Agreement (Aramark)

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