For a brief period a few years back, Marvel had a format they called the "100 Page Monster", where they'd back up a regular monthly book with a whole lot of reprints. In this example, they included a reprint of AVENGERS #150, which in turn reprinted part of AVENGERS #16 from 1965 (I expect in 20 years we'll get a reprint of AVENGERS v3#27 in AVENGERS v5#32, and so the cycle of life continues).
This story is of course "The Old Order Changeth", the first major change in the team line-up, with all the founding members taking a break, leaving Captain America to lead the team with three reformed villains, Hawkeye, Quicksilver and the Scarlet Witch. While the departing members do the recruiting (which involved going through the mail to select two of the members. I wonder who else wrote in and didn't make the cut), Cap and Rick Jones make their way back from foiling Zemo's plans in the Amazon.
This scene always cracks me up, as they have Cap rush ahead as an excuse for a few action panels, and then it turns out he decided to wait for Rick anyway.
This reprints 12 of the original 20 pages, with the first few pages (wrapping up the battle with the Masters of Evil) cut, as well as some later pages/panels. This issue was Dick Ayers doing finishes over Kirby layouts.