Common use of Compulsory Redundancy Clause in Contracts

Compulsory Redundancy. Where the Company considers that Compulsory Redundancy is unavoidable, the terms for any Compulsory Redundancies deemed necessary by the Company will be those which apply in this Schedule in either Voluntary Early Retirement (paragraph 3) or Voluntary Redundancy (paragraph 4) depending on the age of the Executive and his or her membership of the Company’s Pension Fund. For the avoidance of doubt the Compulsory Redundancy terms together with any payment made in respect of payment in lieu of notice in accordance with paragraph 6 below are paid in full and in full and final settlement of all claims for statutory redundancy pay, wrongful dismissal or breach of contract (if any). The date of termination of employment shall be notified in writing by the Company.

Compulsory Redundancy. Where the Company considers that Compulsory Redundancy compulsory redundancy is unavoidable, the terms for any Compulsory Redundancies compulsory redundancies deemed necessary by the Company will be those which apply in this Schedule in either Voluntary Early Retirement (paragraph 3) or Voluntary Redundancy (paragraph 4) depending on the age of the Executive and his or her membership of the Company’s Pension Fund. For the avoidance of doubt the Compulsory Redundancy terms together with any payment made in respect of payment in lieu of notice in accordance with paragraph 6 below are paid in full and in full and final settlement of all claims for statutory redundancy pay, wrongful dismissal or breach of contract (if any). The date of termination of employment shall be notified in writing by the Company.