Common use of RECONSTRUCTION OR AMALGAMATION Clause in Contracts

RECONSTRUCTION OR AMALGAMATION. If before the termination of this Agreement, your employment is terminated by reason of the liquidation of the Company for the purposes of any reconstruction or amalgamation, and you are offered employment with any concern or undertaking resulting from such reconstruction or amalgamation on terms and conditions no less favourable than the terms of this Agreement, then, to the extent permitted by law, you will have no claim against the Company in respect of the determination of your employment. Further if your employment is transferred to a third party (“the Transferee”) pursuant to the Transfer of Undertakings (Protection of Employment) Regulations 1981, the restrictions contained in clauses 12 and 20 shall, following the transfer, apply to you as if references to the Company meant the Transferee, references to any Group Company meant any members of the transferee’s group of companies and references to customers, clients, suppliers and Prospective Customers meant customers, clients, suppliers and Prospective Customers of the Company and/or the Transferee.