Reduction Methodology Sample Clauses
The Reduction Methodology clause defines the procedures and criteria used to calculate and verify reductions, such as emissions or resource usage, within a contract or project. Typically, this clause outlines the specific standards, measurement techniques, and data sources that must be used to determine the amount of reduction achieved, ensuring consistency and transparency. Its core practical function is to provide a clear and agreed-upon framework for assessing reductions, thereby minimizing disputes and ensuring all parties have a common understanding of how reductions are measured and validated.
Reduction Methodology. In the event that Section 7(a) applies and a reduction is required to be applied to the Payments thereunder, the Payments shall be reduced by the Company in its reasonable discretion in the following order: (i) reduction of any Payments that are subject to Section 409A on a pro-rata basis or such other manner that complies with Section 409A, as determined by the Company, and (ii) reduction of any Payments that are exempt from Section 409A.
Reduction Methodology. In the event a reduction in the Payments to the Reduced Amount will provide the Executive with a greater net after-tax amount, the following shall apply:
Reduction Methodology. In the event that Section 6(a) applies and a reduction is required to be applied to the Payments thereunder, the Payments shall be reduced by the Company in its reasonable discretion in accordance with Section 409A and in the following order: (i) reduction of any Payments that are exempt from Section 409A will be reduced first; and (ii) all other Payments will then be reduced as follows:
(A) cash payments will be reduced before non-cash payments; and (B) payments to be made on a later payment date will be reduced before payments to be made on an earlier payment date.
Reduction Methodology. IN THE EVENT A REDUCTION IN THE PAYMENTS TO THE REDUCED AMOUNT WILL PROVIDE THE EXECUTIVE WITH A GREATER NET AFTER-TAX AMOUNT, THE FOLLOWING SHALL APPLY:
a. REDUCTION OF PAYMENTS. THE REDUCTION IN THE PAYMENTS SHALL BE MADE FIRST BY REDUCING AS APPLICABLE, BUT NOT BELOW ZERO, THE CASH PAYMENTS UNDER SECTIONS 5(C)(I)(B), 5(C)(IV)(A), AND 5(E)(I)(B). IN THE EVENT THAT SUCH PAYMENTS ARE INSTALLMENT PAYMENTS, EACH SUCH INSTALLMENT PAYMENT SHALL BE REDUCED PRO-RATA. THE CASH PAYMENTS UNDER SECTIONS 5(C)(I)(C), 5(C)(I)(D), 5(C)(IV)(B), 5(C)(IV)(C), 5(E)(I)(C) AND 5(E)(I)(D) SHALL BE REDUCED NEXT, AS APPLICABLE, BUT NOT BELOW ZERO. IN THE EVENT THAT FOLLOWING REDUCTION OF THE AMOUNTS SET FORTH IN THE PRECEDING SENTENCE, ADDITIONAL AMOUNTS PAYABLE TO THE EXECUTIVE MUST BE REDUCED, ANY PAYMENTS DUE TO THE EXECUTIVE PURSUANT TO THE COMPANY’S EQUITY PLANS SHALL BE REDUCED ON A PRO-RATA BASIS, BUT NOT BELOW ZERO.