No Termination of Employment Intended as a Result of the Allocation of Employees. It is intended that no RemainCo Employee and no SpinCo Employee will experience a termination of employment for severance purposes or otherwise solely as a result of the transactions contemplated by the Distribution Agreement (including any transfer of employment effectuated in connection with those transactions). To the extent permitted by applicable Law, no RemainCo Employees and no SpinCo Employees shall be entitled to any termination or severance payments or benefits as a result of such transactions or transfer, as applicable. RemainCo shall, and shall cause other members of the RemainCo Group (as applicable), and SpinCo shall, and shall cause other members of the SpinCo Group (as applicable), to cause any applicable Plan to be interpreted and administered consistent with such intent, to the greatest extent possible without breaching the applicable Plan.
Appears in 3 contracts
Samples: Employee Matters Agreement (Pennant Group, Inc.), Employee Matters Agreement (Ensign Group, Inc), Employee Matters Agreement (Pennant Group, Inc.)
No Termination of Employment Intended as a Result of the Allocation of Employees. It is intended that no the RemainCo Employee Employees and no SpinCo Employee will Employees shall not experience a termination of employment for or severance purposes or otherwise solely as a result of the transactions contemplated by the Distribution Agreement (including any or the allocation or transfer of employment effectuated Employees described in connection with those transactions)Section 2.01 of this Agreement. To the extent permitted by applicable Law, no RemainCo Employees and no SpinCo such Employees shall not be entitled to any termination or severance payments or benefits as a result of such transactions or allocation or transfer, as applicable. RemainCo shall, and shall cause other members of the RemainCo Group (as applicable), and SpinCo shall, and shall cause other members of the SpinCo Group (as applicable), to cause any applicable Plan to be interpreted and administered consistent with such intent, to the greatest extent possible without breaching the applicable Plan.
Appears in 2 contracts
Samples: Employee Matters Agreement (Wyndham Hotels & Resorts, Inc.), Employee Matters Agreement (Wyndham Hotels & Resorts, Inc.)
