The Slice Mode contextual panel is available on the modeling ribbon when the Slice Plane tool is active. It provides tools for performing the slice and resetting the slice plane position, as well as an option for splitting the mesh while slicing.
Performs the slice operation at the location of the slice plane. Available only when Slice Plane is on. This tool slices the poly just like the “Operate On: Polygons” mode of the Slice modifier.
Left: Using Slice; Right: After slicing and moving the pieces apart