Common use of Change of Employment Clause in Contracts

Change of Employment. If the Executive’s employment shall be transferred from an Employer to another Affiliate (whether or not an Employer), such transfer shall not be treated as a termination of employment hereunder or a break in the Executive’s Years of Employment, unless and until the Executive ceases to be employed by the Company or its Affiliates. For the avoidance of doubt, references to “Employer” as used in this Agreement shall not include ULI or ULSE Inc. (“ULSE”), and any transfer from an Employer or another Affiliate to ULI or ULSE shall constitute a termination of employment or service with the Company and its Affiliates within the meaning of Section 3.2 of the Plan.