(B) Changes in form of business
For purposes of paragraph (1), the employment relationship between the taxpayer and an employee shall not be treated as terminated-
(i)by a transaction to which section 381(a) applies if the…#
(i) by a transaction to which section 381(a) applies if the employee continues to be employed by the acquiring corporation, or
(ii)by reason of a mere change in the form of conducting…#
(ii) by reason of a mere change in the form of conducting the trade or business of the taxpayer if the employee continues to be employed in such trade or business and the taxpayer retains a substantial interest in such trade or business.