Common use of CORPORATE RECONSTRUCTION Clause in Contracts

CORPORATE RECONSTRUCTION. If the Appointment terminates (a) by reason of the liquidation of the Company for the purposes of amalgamation or reconstruction; or (b) as part of any arrangement for the amalgamation of the undertaking of the Company not involving liquidation; or (c) as part of any arrangement for the transfer of the whole or part of the undertaking of the Company to any other member of the Group, and the Executive is offered employment of a similar nature with any person resulting from such amalgamation or reconstruction or with any person with which the undertaking of the Company is amalgamated with any other member of the Group on terms which when taken as a whole are not less favourable to the Executive than the terms of the Appointment, the Executive will have no claim against the Company or any other member of the Group in respect of the termination of the Appointment by reason of the events described in (a), (b) or (c) of this Clause.

CORPORATE RECONSTRUCTION. If the Appointment terminates (a) by reason of the liquidation of the Company for the purposes of amalgamation or reconstruction; or (b) as part of any arrangement for the amalgamation of the undertaking of the Company not involving liquidation; or (c) as part of any arrangement for the transfer of the whole or part of the undertaking of the Company to any other member of the Group, and the Executive is offered employment of a similar nature with any person resulting from such amalgamation or reconstruction reconstruction, or with any person with which the undertaking of the Company is amalgamated with any other member of the Group on terms which which, when taken as a whole whole, are not less favourable to the Executive than the terms of the Appointment, the Executive will have no claim against the Company or any other member of the Group in respect of the termination of the Appointment by reason of the events described in (a), (b) or (c) of this Clause.