RECONSTRUCTION OR AMALGAMATION. If the employment of the Director under this Agreement is terminated by reason of the liquidation of the Company for the purpose of reconstruction or amalgamation and the Director is offered employment with any concern or undertaking resulting from the reconstruction or amalgamation on terms and conditions not less favourable than the terms of this Agreement, then the Director shall have no claim against the Company in respect of the termination of his employment under this Agreement.
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Samples: Service Agreement (SKK Holdings LTD), Service Agreement (SKK Holdings LTD), Service Agreement (JBDI Holdings LTD)
RECONSTRUCTION OR AMALGAMATION. If the employment of the Director under this Agreement is terminated by reason of the liquidation of the Company for the purpose of reconstruction or amalgamation or other reconstructions of the Company not involving a liquidation and the Director is offered employment with any company, concern or undertaking resulting from the reconstruction or amalgamation on terms and conditions not less favourable than the terms of this Agreement, Agreement then the Director shall be obliged to accept such offer and shall have no claim against the Company in respect of the termination of his employment under this Agreement.
Appears in 3 contracts
Samples: Director's Service Agreement (Acambis PLC), Director's Service Agreement (Acambis PLC), Director's Service Agreement (Peptide Therapeutics Group PLC)
RECONSTRUCTION OR AMALGAMATION. If the employment of the Director under this Agreement agreement is terminated by reason of the liquidation of the Company for the purpose of reconstruction or amalgamation and the Director is offered employment with any concern or undertaking resulting from the reconstruction or amalgamation on terms and conditions not less favourable than the terms of this Agreement, agreement then the Director shall have no claim against the Company in respect of the termination of his employment under this Agreementagreement.
Appears in 1 contract
Samples: Employment Agreement (Hugo International Telecom Inc)
RECONSTRUCTION OR AMALGAMATION. If before the expiration of this Agreement, the employment of the Director under this Agreement is hereunder shall be terminated by reason of the liquidation of the Company for the purpose of reconstruction or amalgamation amalgamation, and the Director is shall be offered employment with any concern or undertaking resulting from the such reconstruction or amalgamation for a period not less than the unexpired term of this Agreement and on terms and conditions not less favourable favorable than the terms of this Agreement, then the Director shall have no claim against the Company in respect of the termination of his employment under this Agreementhereunder by reason of such liquidation.
Appears in 1 contract
Samples: Managing Directors Service Agreement (Metron Technology N V)
RECONSTRUCTION OR AMALGAMATION. If the employment of the Director under this Agreement is terminated by reason of the liquidation of the Company for the purpose of reconstruction or amalgamation and the Director is offered employment with any concern or undertaking resulting from the reconstruction or amalgamation on terms and conditions not less favourable than the terms of this Agreement, then the Director shall have no claim against the Company in respect of the termination of his her employment under this Agreement.
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RECONSTRUCTION OR AMALGAMATION. If the employment of the Director under this Agreement agreement is terminated by reason of the liquidation of the Company for the purpose of reconstruction or amalgamation and the Director is offered employment with any concern or undertaking resulting from the reconstruction or amalgamation on terms and conditions not less favourable favorable than the terms of this Agreement, agreement then the Director shall have no claim against the Company in respect of the termination of his employment under this Agreementagreement.
Appears in 1 contract
