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(b) that Merger Company guarantees not less than
5 years' employment to each transferee subject to good health and good conduct;
(c) that in the event of retirement otherwise than
for misconduct, Merger Company shall pay retiring allowances on the basis of Pacific Cable Board scheme, calculated in respect of total service, including pre-transfer service; or, alternatively, Merger Company terms of retiring allowances in respect of post-transfer service, whichever is the more favourable to the transferee.
IV. Merger Company to take over liability for payment of
all existing pensions.
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(11)
:
i
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