No Reduction in Salary. An employee transferred or reassigned in accordance with Clause 45:05 will not suffer any reduction in his/her salary unless such employee has refused without giving reasons acceptable to the Employer to avail of the training in accordance with Clause 45:04.
No Reduction in Salary. The salary of any teacher now engaged shall not be reduced by the signing of this agreement, provided that the teacher remains engaged in that same position.
No Reduction in Salary. No Employee presently on staff shall incur a reduction in salary solely because of the implementation of this Agreement.
No Reduction in Salary. The employer agrees not to lower the rate of pay for those bargaining unit members who, during the school year, are reassigned to other duties which would otherwise lower their hourly rate. This guarantee shall cover only the school year in which the action takes place.
No Reduction in Salary. Notwithstanding the provisions of Section 1 above, each component of MxXxxxxx’x compensation under the Employment Agreement shall remain unchanged for the period commencing the date hereof and continuing thereafter to and including December 31, 2007 (the “Remaining Term”), which period constitutes the remaining term of the Employment Agreement, all such amounts to be paid in accordance with the Company’s normal pay policies applicable to senior officers of the Company; provided, however, that the Company may not declare a moratorium on any payment hereunder to MxXxxxxx as part of cash management by the Company, or any other reason, without MxXxxxxx’x prior written consent. All compensation under the Employment Agreement that has been accrued but is, as of the date of this Agreement unpaid, as well as all subsequent payments that may become accrued and not paid, shall be paid to MxXxxxxx as soon as reasonably practicable, taking into account the Company’s available cash and other operating requirements, but in no event shall such sums be paid later than the first to occur of (i) the consummation of a financing transaction in which at least $2,000,000. gross proceeds are received by the Company and (ii) August 31, 2007 All sums paid hereunder shall be subject to appropriate withholding as required by applicable laws and regulations.
No Reduction in Salary. If, following a Change in Control, the Employee remains employed by Employer or its successor, the Employer or its successor may not, for a period of three years following the Change of Control, reduce the Employee's salary below the salary level paid immediately prior to the Change in Control. 226
