| Accept: | Marc Bruno | |||||||||||||
| (Please Print Name) | ||||||||||||||
| /s/ Marc Bruno | December 10, 2019 | |||||||||||||
| (Please Sign Name) | Date | |||||||||||||
| Title: | Chief Operating Officer, U.S. Food & Facilities | ||||
| Level: | Executive Leadership Council Band 2 ELT | ||||
| Reports To: | John Zillmer, Chief Executive Officer Aramark | ||||
| Location: | Philadelphia, PA | ||||
| Effective Date: | November 19, 2019 | ||||
| Base Salary: | $625,000 | ||||
| Bonus: | You will continue to be eligible to participate in Aramark’s Management Incentive Bonus (MIB) Plan for Fiscal Year 2020. As further described in the Plan, if you are eligible to receive a Management Incentive Bonus, the amount of your Bonus will be determined on the basis of both the performance of Aramark and your performance measured against certain annual financial and non-financial goals. The current guideline for your position is a target bonus of 100% of base salary. Your actual bonus paid for Fiscal Year 2020 will be prorated as appropriate. | ||||
| Equity Incentives: | You have been recommended to the Compensation and Human Resources Committee of the Board of Directors to receive equity grants with a value of $1,750,000. This value is represented by the award associated with this promotion and awarded on December 4, 2019 ($250,000) plus the annual award value that was awarded on November 21, 2019 ($1,500,000). | ||||
Benefits: | You will continue to be eligible to participate in the standard Aramark Benefits Program, as well as the Benefits/Perquisites Programs in place for ELC members, which are subject to change from time to time. | ||||
Auto Allowance: | You will continue to be eligible to receive an auto allowance of $1,100 per month. This amount is subject to all applicable withholding taxes, is paid monthly and is not pro-rated. | ||||
| This offer letter, along with the agreements referenced herein, sets forth the entire understanding of the parties with respect to all aspects of the offer. Any and all previous agreements or understandings between or among the parties regarding the subject matter hereof, whether written or oral, are superseded by this offer letter. | |||||