Common use of REDUCTION IN COMPENSATION PROSCRIBED AFTER A CHANGE IN CONTROL Clause in Contracts

REDUCTION IN COMPENSATION PROSCRIBED AFTER A CHANGE IN CONTROL. During the term of this Agreement as defined by Section 2 and after the date of a Change in Control, Executive shall receive as compensation, while still employed by Company, a salary at a rate no less than that in effect as of the change in Control, and shall in addition, be entitled to receive a bonus equal to at least the average of the last three years bonuses paid. In addition, during such period, the Company shall pay and provide for Executive at no cost to Executive, all of his then-current fringe benefits, including but not limited to health, disability, dental, life insurance club memberships, etc., all of which shall be at levels and amounts no less favorable than levels and amounts I n effect as of the Change of Control. Section 4 -