If the employer merges or consolidates with or into another corporation, or if substantially all of the assets of the employer shall be transferred to another corporation, this plan shall terminate on the effective date of such merger, consolidation or transfer. However, if the surviving corporation resulting from such merger or consolidation, or the corporation to which the assets have been transferred, adopts this plan, the plan shall continue and said corporation shall succeed to all rights, powers and duties of the employer hereunder. The employment of any employee who is continued in the employ of such successor corporation shall not be deemed to have terminated for any purpose hereunder. (Ord. 6747-NS § 1, 2003)