Other Post-Employment Benefits. (a) Basic Group -medical and life insurance coverages shall continue under then prevailing terms daring 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. (a) If, at the time of termination, ARAMARK is providing Employee with a leased vehicle, then ARAMARK will continue to provide the leased vehicle through the Severance Pay Period under the same terms and conditions as in effect at the time of the Employee's termination. At the expiration of the Severance Pay Period, Employee must return the leased vehicle to ARAMARK unless the Employee elects to purchase the vehicle in accordance with the Executive Leadership Council policy then in effect, If Employee is receiving a car allowance at the time of the Employee's termination, such car allowance will continue to be paid through the Severance Pay Period. At the expiration of the Severance Pay Period, the Employee will cease being paid a car allowance.
Appears in 1 contract
Samples: Employment Agreement (Aramark Corp)
Other Post-Employment Benefits. (a) Basic Group -medical medical and life insurance coverages shall continue under then prevailing terms daring 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.
(ab) If, at the time of termination, ARAMARK Aramark is providing Employee with a leased vehicle, then ARAMARK Aramark will continue to provide the leased vehicle through the Severance Pay Period under the same terms and conditions as in effect at the time of the Employee's ’s termination. At the expiration of the Severance Pay Period, Employee must return the leased vehicle to ARAMARK Aramark unless the Employee elects to purchase the vehicle in accordance with the Executive Leadership Council policy then in effect, . If Employee is receiving a car allowance at the time of the Employee's ’s termination, such car allowance will continue to be paid through the Severance Pay Period. At the expiration of the Severance Pay Period, the Employee will cease being paid a car allowance.Pay
Appears in 1 contract
Other Post-Employment Benefits. (a) Basic Group -medical medical and life insurance coverages shall continue under then prevailing terms daring 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.
. (ab) If, at the time of termination, ARAMARK is providing Employee with a leased vehicle, then ARAMARK will continue to provide the leased vehicle through the Severance Pay Period under the same terms and conditions as in effect at the time of the Employee's ’s termination. At the expiration of the Severance Pay Period, Employee must return the leased vehicle to ARAMARK unless the Employee elects to purchase the vehicle in accordance with the Executive Leadership Council policy then in effect, . If Employee is receiving a car allowance at the time of the Employee's ’s termination, such car allowance will continue to be paid through the Severance Pay Period. At the expiration of the Severance Pay Period, the Employee will cease being paid a car allowance.
Appears in 1 contract
Samples: Employment Agreement (Aramark)