Effect of the Separation on Severance. RemainCo and SpinCo acknowledge and agree that the transaction contemplated by the Distribution Agreement, in and of itself, will not constitute a termination of employment of any SpinCo Participant for purposes of any policy, plan, program or agreement of RemainCo or SpinCo or any member of the RemainCo 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 (Batesville Holdings, Inc.), Employee Matters Agreement (Batesville Holdings, Inc.), Employee Matters Agreement (Hillenbrand, Inc.)
