Decrease in Base Salary Sample Clauses
The Decrease in Base Salary clause establishes the conditions under which an employer may reduce an employee’s base salary during the term of employment. Typically, this clause outlines the permissible reasons for a salary reduction, such as company-wide pay cuts, changes in job responsibilities, or financial hardship, and may specify notice requirements or limits on the amount of reduction. Its core function is to provide a clear framework for salary adjustments, ensuring both parties understand when and how a decrease can occur, thereby reducing the risk of disputes and promoting transparency.
Decrease in Base Salary. The Agreement is hereby amended by adding the following sentence to the end of Section 3(a): “Effective as of April 5, 2020, Executive will be paid zero U.S. dollars of base salary until and through June 30, 2020, and Executive’s annual base salary of one million, seven hundred and fifty thousand U.S. dollars ($1,750,000) is reduced by four hundred seventeen thousand, one hundred and twenty-three U.S. dollars ($417,123), representing the portion of his annual base salary attributable to the period from April 5, 2020 through June 30, 2020.”
Decrease in Base Salary. The Agreement is hereby amended by adding the following sentence to the end of Section 3(a): “Effective as of April 5, 2020, Executive will be paid seventy-one thousand, five hundred and six U.S. dollars ($71,506) of base salary until and through June 30, 2020, and Executive’s annual base salary of six hundred thousand U.S. dollars ($600,000) is reduced by seventy-one thousand, five hundred and six U.S. dollars ($71,506), representing the portion of his annual base salary attributable to the period from April 5, 2020 through June 30, 2020.”
Decrease in Base Salary. The Employment Letter is hereby amended by adding the following sentence to the end of the section of the Employment Letter captioned “Compensation”: “Effective as of April 5, 2020, Executive will be paid seventy-six thousand, two hundred and seventy-three U.S. dollars ($76,273) of base salary until and through June 30, 2020, and Executive’s annual base salary of four hundred thousand U.S. dollars ($400,000) is reduced by nineteen thousand and sixty-eight U.S. dollars ($19,068), representing the portion of his annual base salary attributable to the period from April 5, 2020 through June 30, 2020.”