No Separation From Service or Termination of Employment. The Distribution and the assignment, transfer, or continuation of employment of any Employee of Vornado or any of its Affiliates in connection therewith (including in accordance with Section 2.1 hereof) shall not be deemed a separation from service or termination of employment entitling such Employee to be eligible to participate in, or to receive payment of, severance or other termination payments or benefits under any applicable Law, Vornado Benefit Plan or Newco Benefit Plan provided, however, that any Terminating Employee, shall be deemed to have incurred a separation from service and shall be eligible to receive severance and benefits in accordance with the applicable Vornado Benefit Plan.
Appears in 6 contracts
Samples: Employee Matters Agreement (JBG SMITH Properties), Employee Matters Agreement (JBG SMITH Properties), Master Transaction Agreement (JBG SMITH Properties)
