3. Employees are entitled to choose his/her preferred car model from the Company’s approved car leasing company based on each individual employee’s lease rate entitlement as set out in the above table, provided that such preferred model is appropriate to his/her job role and meets the Company’s criteria.
4. The Company may allow certain eligible employees to elect a company car of higher lease rate than the employee’s actual lease rate entitlement as specified in the above table, whereby such employees will be subject to the following conditions:
4.1 The Employee shall be responsible for payment of additional lease payment in excess of the employee’s actual lease rate as specified in the above table or any additional payment as required by the car leasing company. Payment by the employee of any such excess payments shall be in accordance with the rules of the Company issued from time to time.
4.2 If the employee resigns or employment is terminated due to whatsoever reasons, the employee shall be responsible to pay damages to the company in the amount that the Company is liable to pay the car leasing company due to early termination of the car leasing contract.
5. Employees are prohibited to allow any person (other than approved drivers) to use the company cars.
6. The Company will be responsible for car registration renewal fee, car insurance premium and car maintenance in accordance with the terms of the car leasing contract which shall included in the individual employee’s lease rate entitlement as set out in the above table.
7. Employees are required to take good care of their company cars and keep them clean and tidy. If an employee finds a fault with his/her company car, the employee shall report this to the HR Department as soon as possible. If any fault or damage to the company car is considered to be due to negligence or misuses of the company car on the part of the employee, the company may seek to recover the full cost of the necessary repair from that employee. Employees are responsible for ensuring that the car is regularly serviced in accordance with the manufacture’s schedule.
8. If an option to buy the company car is allowed by the car leasing company, the option to buy the company car shall be based on the terms of car purchase agreement of the car leasing company to be entered into directly between the car leasing company and the employee.
9. Upon leaving the Company, the employee must return the company car on the specified date, that is, on or before the end of the notice period or on the last day of employment as agreed by the HR Department. All returned company cars must be clean, tidy and free of mechanical defects. Any outstanding costs relating to road traffic offences will be charged to the individual employee.