Common use of SERP Clause in Contracts

SERP. If a termination of the Executive’s employment is deemed a Retirement for purposes of this Agreement, such termination shall constitute one of the following events, as appropriate, under the Vector Group Ltd. Supplemental Retirement Plan (as in effect on the date hereof or as amended or restated if more favorable to the Executive) (the “SERP”): in the event of a termination under Section 6(b) hereof, the death of the Executive under Section 4.3 of the SERP; under Section 6(c) hereof, the Disability of the Executive under Section 4.2 of the SERP; and under Sections 6(a) or 6(e) (to the extent Section 6(a) shall apply) hereof, the termination of the Executive without cause under Section 4.4 of the SERP. In the event the Executive’s employment is terminated under Section 6(d), the Executive shall not be entitled to any benefit under the SERP if the facts and circumstances upon which such termination is based would constitute “cause” under Section 4.4 of the SERP. If such facts and circumstances would not constitute “cause” under Section 4.4 of the SERP, such termination of the Executive’s employment under Section 6(d) will be treated as a termination of the Executive without cause under Section 4.4 of the SERP.

SERP. If a termination of the Executive’s employment is deemed a Retirement for purposes of this Agreement, such termination shall constitute one of the following events, as appropriate, under the Vector Group Ltd. Supplemental Retirement Plan (as in effect on the date hereof or as amended or restated if more favorable from time to the Executivetime) (the “SERP”): in the event of a termination under Section 6(b5(d) hereofabove, the death of the Executive under Section 4.3 of the SERP; under Section 6(c5(c) hereofabove, the Disability of the Executive under Section 4.2 of the SERP; and under Sections 6(a5(a)(ii), 5(b)(i) or 6(eand 5(e) (to the extent Section 6(a) shall apply) hereofabove, the termination of the Executive without cause under Section 4.4 of the SERP. In the event the Executive’s employment is terminated under Section 6(d)5(b)(ii) above, the Executive shall not be entitled to any benefit under the SERP if the facts and circumstances upon which such termination is based would constitute “cause” under Section 4.4 of the SERP. If such facts and circumstances would not constitute “cause” under Section 4.4 of the SERP, such termination of the Executive’s employment under Section 6(d5(b)(ii) above will be treated as a termination of the Executive without cause under Section 4.4 of the SERP.