Decrease in Base Salary Sample Clauses

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.”
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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’s base salary is decreased by twenty percent (20%), from four hundred and seventy-five thousand U.S. dollars ($475,000) per annum to three hundred and eighty U.S. dollars ($380,000) per annum. This decrease in base salary shall be effective until and through June 30, 2020.”
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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.”
Sample 1

Related to Decrease in Base Salary

  • Annual Base Salary During the Term, the Executive shall receive a base salary at an initial rate of $550,000 per annum, which shall be paid in accordance with the customary payroll practices of the Company, subject to review annually for possible increase, but not decrease, in the Board’s discretion (the “Annual Base Salary”).

  • Base Salary During the Employment Term, the Company shall pay Executive a base salary at the annual rate of $250,000, payable in regular installments in accordance with the Company's usual payment practices. Executive shall be entitled to such increases in Executive's base salary, if any, as may be determined from time to time in the sole discretion of the Board. Executive's annual rate of base salary, as in effect from time to time, is hereinafter referred to as the "Base Salary."

  • Annual Salary Executive's compensation shall consist of an annual base salary (the "Annual Salary") of one hundred fifty thousand dollars ($150,000), before all customary payroll deductions. The Annual Salary shall be reviewed, and shall be subject to change, by the Board of Directors of Employer (or the Compensation Committee thereof) at least annually while Executive is employed hereunder.

  • Base Compensation a. The Company and the Bank agree to pay Executive during the term of this Agreement a base salary at the rate of $ per year, payable in accordance with customary payroll practices.

  • Base Salary and Bonus As compensation for the Executive's services under this Agreement, the Executive shall receive and the Company shall pay a weekly base salary set forth on Exhibit A. Such base salary may be increased but not decreased during the Term or Renewal Period in the Company's discretion based upon the Executive's performance and any other factors the Company deems relevant. Such base salary shall be payable in accordance with the policy then prevailing for the Company's executives. In addition to such base salary, the Executive shall be entitled during the Term or Renewal Period to a performance bonus set forth on Exhibit A and to participate in and receive payments from, at the Company's election, other bonus and other incentive compensation plans, if any, as may be adopted by the Company.

  • Minimum Salaries 12.1 The minimum academic base salary for all Bargaining Unit members shall be as follows: Rank Effective 9/1/2019 Professor $80,250 Assoc. Professor $64,875 Asst. Professor $53,125 Instructor $45,500 Senior Librarian $80,250 Assoc. Sr. Librarian $68,875 Assoc. Librarian $62,875 Asst. Librarian $53,125 Beg. Librarian $45,500 Faculty Members earning a base salary below the effective minima shall move to the new minima and receive any across-the-board and benchmark increases under Article 10 on his or her minima. Faculty Members who will receive regional campus increases under Article 10 of this Agreement shall receive those increases before any adjustment to meet the minimum salary required by this Article.

  • Base Annual Salary “Base Annual Salary” means the greater of (1) the highest annual rate of base salary in effect for the Executive during the 12 month period immediately prior to a Change in Control or, (2) the annual rate of base salary in effect at the time Notice of Termination is given (or on the date employment is terminated if no Notice of Termination is required).

  • General Salary Increase 1. Effective with the start of the pay week commencing closest to September 1, 2013, employees shall be provided an across-the-board salary increase of one percent (1%). Salary schedules shall be increased accordingly.

  • Salary No salary will be paid to a Member for the performance of his or her duties under this Agreement unless the salary has been approved in writing by a Majority of the Members.

  • Monthly Salary The words “monthly salary” when used in this Agreement shall mean: (Bi-weekly pay at regular rate of pay times 26.1) divided by 12 = monthly salary

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