Common use of Reduced Salary Clause in Contracts

Reduced Salary. A reduction of five percent (5%) or more by the Company in either of the following: (i) Mr. Wakefield's annual base salary rate as in efxxxx xxxxxxxxxxx prior to the Change in Control (except for a less than ten percent (10%), across-the-board annual base salary rate reduction similarly affecting at least ninety-five percent (95%) of the Executive Employees of the Company); or (ii) the sum of Mr. Wakefield's annual base salary rate plus target xxxxx xxxxx the PPP Plan (except for a less than ten percent (10%), across-the-board reduction of annual base salary rate plus target bonus under the PPP Plan similarly affecting at least ninety-five percent (95%) of the Executive Employees of the Company);

Appears in 1 contract

Samples: Change in Control Agreement (Savannah Electric & Power Co)

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Reduced Salary. A reduction of five percent (5%) or more by the Company in either of the following: (i) Mr. WakefieldRatcliffe's annual base salary rate as in efxxxx ratx xx xx xxxxxx xxxxxxxxxxx prior to the Change in Control (except for a less than ten percent (10%), across-the-board annual base salary rate reduction similarly affecting at least ninety-five percent (95%) of the Executive Employees of the Company); or (ii) the sum of Mr. WakefieldRatcliffe's annual base salary rate plus target xxxxx xxxxx xonus under the PPP Plan (except for a less than ten percent (10%), across-the-board reduction of annual base salary rate plus target bonus under the PPP Plan similarly affecting at least ninety-five percent (95%) of the Executive Employees of the Company);

Appears in 1 contract

Samples: Change in Control Agreement (Southern Power Co)

Reduced Salary. A reduction of five percent (5%) or more by the Company in either of the following: (i) Mr. WakefieldRatcliffe's annual base salary rate as in efxxxx xxxxxxxxxxx prior to effect immexxxxxxx xxxxx xo the Change in Control (except for a less than ten percent (10%), across-the-board annual base salary rate reduction similarly affecting at least ninety-five percent (95%) of the Executive Employees of the Company); or (ii) the sum of Mr. WakefieldRatcliffe's annual base salary rate plus target bonus xxxxx xxxxx the PPP Plan xxx XXX (except for a less than ten percent (10%), across-the-board reduction of annual base salary rate plus target bonus under the PPP Plan similarly affecting at least ninety-five percent (95%) of the Executive Employees of the Company);

Appears in 1 contract

Samples: Change in Control Agreement (Gulf Power Co)

Reduced Salary. A reduction of five percent (5%) or more by the Company in either of the following: (i) Mr. WakefieldRatcliffe's annual base salary rate as in efxxxx xxxxxxxxxxx prior to the Change in Control (except for a less than ten percent (10%), across-the-board annual base salary rate reduction similarly affecting at least ninety-five percent (95%) of the Executive Employees of the Company); or (ii) the sum of Mr. WakefieldRatcliffe's annual base salary rate plus target xxxxx xxxxx the PPP Plan (except for a less than ten percent (10%), across-the-board reduction of annual base salary rate plus target bonus under the PPP Plan similarly affecting at least ninety-five percent (95%) of the Executive Employees of the Company);

Appears in 1 contract

Samples: Change in Control Agreement (Savannah Electric & Power Co)

Reduced Salary. A reduction of five percent (5%) or more by the Company in either of the following: (i) Mr. WakefieldMcCrary's annual base salary rate as in efxxxx xxxxxxxxxxx prior to the Change in Control (except for a less than ten percent (10%), across-the-board annual base salary rate reduction similarly affecting at least ninety-five percent (95%) of the Executive Employees of the Company); or (ii) the sum of Mr. WakefieldMcCrary's annual base salary rate plus target xxxxx xxxxx bonus xxxer the PPP Plan (except for a less than ten percent (10%), across-the-board reduction of annual base salary rate plus target bonus under the PPP Plan similarly affecting at least ninety-five percent (95%) of the Executive Employees of the Company);

Appears in 1 contract

Samples: Change in Control Agreement (Southern Power Co)

Reduced Salary. A reduction of five percent (5%) or more by the Company in either of the following: (i) Mr. WakefieldDeNicola's annual base salary rate as in efxxxx effxxx xxxxxxxxxxx prior to the Change in Control (except for a less than ten percent (10%), across-the-board annual base salary rate reduction similarly affecting at least ninety-five percent (95%) of the Executive Employees of the Company); or (ii) the sum of Mr. WakefieldDeNicola's annual base salary rate plus target xxxxx xxxxx the PPP Plan (except for a less than ten percent (10%), across-the-board reduction of annual base salary rate plus target bonus under the PPP Plan similarly affecting at least ninety-five percent (95%) of the Executive Employees of the Company);

Appears in 1 contract

Samples: Control Agreement (Savannah Electric & Power Co)

Reduced Salary. A reduction of five percent (5%) or more by the Company in either of the following: (i) Mr. WakefieldMcCrary's annual base salary rate as in efxxxx effexx xxxxxxxxxxx prior to the Change in Control (except for a less than ten percent (10%), across-the-board annual base salary rate reduction similarly affecting at least ninety-five percent (95%) of the Executive Employees of the Company); or (ii) the sum of Mr. WakefieldMcCrary's annual base salary rate plus target xxxxx bonus xxxxx the PPP Plan (except for a less than ten percent (10%), across-the-board reduction of annual base salary rate plus target bonus under the PPP Plan similarly affecting at least ninety-five percent (95%) of the Executive Employees of the Company);

Appears in 1 contract

Samples: Change in Control Agreement (Savannah Electric & Power Co)

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Reduced Salary. A reduction of five percent (5%) or more by the Company in either of the following: (i) Mr. WakefieldDahlberg's annual base salary rate as in efxxxx effxxx xxxxxxxxxxx prior to the Change in Control (except for a less than ten percent (10%), across-the-board annual base salary rate reduction similarly affecting at least ninety-five percent (95%) of the Executive Employees of the Company); or (ii) the sum of Mr. WakefieldDahlberg's annual base salary rate plus target xxxxx xxxxx the PPP Plan (except for a less than ten percent (10%), across-the-board reduction of annual base salary rate plus target bonus under the PPP Plan similarly affecting at least ninety-five percent (95%) of the Executive Employees of the Company);

Appears in 1 contract

Samples: Change in Control Agreement (Savannah Electric & Power Co)

Reduced Salary. A reduction of five percent (5%) or more by the Company in either of the following: (i) Mr. WakefieldWestbrook's annual base salary rate as in efxxxx xxxxxxxxxxx prior to the Change in Control (except for a less than ten percent (10%), across-the-board annual base salary rate reduction similarly affecting at least ninety-five percent (95%) of the Executive Employees of the Company); or (ii) the sum of Mr. WakefieldWestbrook's annual base salary rate plus target xxxxx xxxxx the PPP Plan (except for a less than ten percent (10%), across-the-board reduction of annual base salary rate plus target bonus under the PPP Plan similarly affecting at least ninety-five percent (95%) of the Executive Employees of the Company);

Appears in 1 contract

Samples: Change in Control Agreement (Savannah Electric & Power Co)

Reduced Salary. A reduction of five percent (5%) or more by the Company in either of the following: (i) Mr. WakefieldMcCrary's annual base salary rate as in efxxxx effexx xxxxxxxxxxx prior to the Change in Control (except for a less than ten percent (10%), across-the-board annual base salary rate reduction similarly affecting at least ninety-five percent (95%) of the Executive Employees of the Company); or (ii) the sum of Mr. WakefieldMcCrary's annual base salary rate plus target xxxxx bonus xxxxx the PPP Plan (except for a less than ten percent (10%), across-the-board reduction of annual base salary rate plus target bonus under the PPP Plan similarly affecting at least ninety-five percent (95%) of the Executive Employees of the Company);

Appears in 1 contract

Samples: Change in Control Agreement (Gulf Power Co)

Reduced Salary. A reduction of five percent (5%) or more by the Company in either of the following: (i) Mr. WakefieldHairston's annual base salary rate as in efxxxx effxxx xxxxxxxxxxx prior to the Change in Control (except for a less than ten percent (10%), across-the-board annual base salary rate reduction similarly affecting at least ninety-five percent (95%) of the Executive Employees of the Company); or (ii) the sum of Mr. WakefieldHairston's annual base salary rate plus target xxxxx xxxxx the PPP Plan (except for a less than ten percent (10%), across-the-board reduction of annual base salary rate plus target bonus under the PPP Plan similarly affecting at least ninety-five percent (95%) of the Executive Employees of the Company);

Appears in 1 contract

Samples: Control Agreement (Savannah Electric & Power Co)

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