Common use of Reduction in Salary Clause in Contracts

Reduction in Salary. Executive’s Base Salary is reduced by more than ten percent (10%) of Executive’s initial Base Salary specified in Section 3.1. or, following a Change in Control, any material reduction in Executive’s Base Salary (for avoidance of doubt, a reduction of less than 10% of Base Salary from Executive’s initial Base Salary prior to a Change in Control shall not be considered a breach of this Agreement);

Appears in 4 contracts

Samples: Employment Agreement (Osi Systems Inc), Employment Agreement (Osi Systems Inc), Employment Agreement (Osi Systems Inc)

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Reduction in Salary. Executive’s Base Salary is reduced by more than ten percent (10%) of Executive’s initial Base Salary specified in Section 3.1. 3.1 or, following a Change in Control, any material reduction in Executive’s Base Salary (for avoidance of doubt, a reduction of less than 10% of Base Salary from Executive’s initial Base Salary prior to a Change in Control shall not be considered a breach of this Agreement);

Appears in 1 contract

Samples: Employment Agreement (Osi Systems Inc)

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