Effect of the Distribution on Severance. The Parties acknowledge and agree that the transactions contemplated by the Distribution Agreement will not constitute a termination of employment of any Spinco Participant for purposes of any policy, plan, program or agreement of MSG Networks or Spinco or any member of the MSG Networks Group or Spinco Group that provides for the payment of severance, separation pay, salary continuation or similar benefits in the event of a termination of employment.
Appears in 4 contracts
Samples: Employee Matters Agreement (Madison Square Garden Entertainment Corp.), Employee Matters Agreement (Madison Square Garden Co), Employee Matters Agreement (MSG Spinco, Inc.)
Effect of the Distribution on Severance. The Parties acknowledge and agree that the transactions contemplated by the Distribution Agreement will not constitute a termination of employment of any Spinco Participant for purposes of any policy, plan, program or agreement of MSG Networks MSGS or Spinco or any member of the MSG Networks MSGS Group or Spinco Group that provides for the payment of severance, separation pay, salary continuation or similar benefits in the event of a termination of employment.
Appears in 3 contracts
Samples: Employee Matters Agreement (MSG Entertainment Spinco, Inc.), Employee Matters Agreement (Madison Square Garden Co), Employee Matters Agreement (MSG Entertainment Spinco, Inc.)
Effect of the Distribution on Severance. The Parties acknowledge and agree that the transactions contemplated by the Distribution Agreement will not constitute a termination of employment of any Spinco Participant for purposes of any policy, plan, program or agreement of MSG Networks Entertainment or Spinco or any member of the MSG Networks Entertainment Group or Spinco Group that provides for the payment of severance, separation pay, salary continuation or similar benefits in the event of a termination of employment.
Appears in 3 contracts
Samples: Employee Matters Agreement (Madison Square Garden Entertainment Corp.), Employee Matters Agreement (MSGE Spinco, Inc.), Employee Matters Agreement (MSGE Spinco, Inc.)
