Time-Off Benefits. Spinco shall credit each Spinco Participant with the amount of accrued but unused vacation time, sick time and other time-off benefits as such Spinco Participant had with the Vector Group or the Spinco Group, as applicable, as of the Distribution Date.
Appears in 4 contracts
Samples: Employee Matters Agreement (Douglas Elliman Inc.), Employee Matters Agreement (Douglas Elliman Inc.), Employee Matters Agreement (Douglas Elliman Inc.)
Time-Off Benefits. Spinco shall credit each Spinco Participant with the amount of accrued but unused vacation time, sick time and other time-off benefits as such Spinco Participant had with the Vector Quanex Group or the Spinco Group, as applicable, as of the Distribution DateTime. Notwithstanding the above, Spinco shall not be required to credit any Spinco Participant with any accrual to the extent that a benefit attributable to such accrual is provided by the Quanex Group.
Appears in 1 contract
