Severance Pay Plans. The Parties acknowledge and agree that the transactions contemplated by the Distribution Agreement will not constitute a termination of employment of any Vector Participant or Spinco Participant for purposes of any policy, plan, program or agreement of Vector or Spinco or any member of the Vector 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 (Douglas Elliman Inc.), Employee Matters Agreement (Douglas Elliman Inc.), Employee Matters Agreement (Douglas Elliman Inc.)
