Where a termination payment clause in an employment agreement provides for payment calculated by reference to 'years of service with the Company or a Related Company', and the clause is ambiguous as to whether pre-contract service with a company that only became a Related Company at the time of the contract is included, the commercially sensible construction is that only service after the commencement of the employment agreement is to be counted. The commercial disincentive that a retrospective construction would create for the employer to continue the employment relationship is a significant factor in resolving such ambiguity.
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