REDUCTION OF BASE SALARY Sample Clauses

REDUCTION OF BASE SALARY. Subject to Executive's continuous employment by Company from the date of this Agreement to February 28, 2005, commencing on February 28, 2005, and continuing until such time, if any, as the parties may agree to a different amount, Executive's annual base salary shall be reduced by 20% of the amount in effect on the date hereof (i.e., from Executive's current base salary of $450,000 to a reduced based salary of $360,000). Executive acknowledges that such reduction in annual base salary will also result in a reduction in certain compensation and other benefits provided by Company to Executive pursuant to the terms of Company's benefit plans and programs, including, without limitation, under the Bonus Program, the LTIP/RSU Program, and Executive's supplemental executive retirement plan.
Sample 1Sample 2Sample 3See All (6)
AutoNDA by SimpleDocs
REDUCTION OF BASE SALARY. I hereby waive the right to receive annual base salary as defined in Section 5 of the Employment Agreement ("Base Salary") in excess of $100,000 effective December 19, 2004.
Sample 1Sample 2
REDUCTION OF BASE SALARY. A "Reduction of Base Salary" shall have occurred if the Base Salary of the Executive is reduced at any time after a Change of Control.
Sample 1Sample 2
REDUCTION OF BASE SALARY. The first sentence of Section 3(a) of the Agreement, Compensation-Base Salary, is hereby deleted and the following substituted in its place: Effective as of the payroll period commencing October 16, 2013, the Corporation shall pay XXXXX a base salary of $318,750 per annum through the end of the Term.
Sample 1
REDUCTION OF BASE SALARY. Executive hereby affirms and acknowledges that Executive consented to a 10% reduction of his Base Salary, effective March 1, 2003, with such reduction to continue for so long as the Personnel & Compensation Committee of the Board of Directors of the Company (the "COMMITTEE") determines in its sole discretion.
Sample 1
REDUCTION OF BASE SALARY. Executive hereby affirms and acknowledges that, effective April 1, 2003, Executive voluntarily elected to reduce his Base Salary by an additional 15% from the level that existed immediately prior to March 1, 2003, with such reduction to continue until Executive provides the Committee with a written notice that such reduction shall be restored on a prospective basis.
Sample 1

Related to REDUCTION OF 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”).

  • 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 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."

  • 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.

  • 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.

  • Basic Salary For all your services rendered under this Agreement, UO shall pay you a salary at an annual rate of no less than $450,000, or at such higher salary as may be determined by your performance review and the Executive Vice President, Human Resources, Legal & Business Affairs, UPR. Such higher salary shall subsequently be deemed the annual rate, commencing on such date as the Executive Vice President, Human Resources, Legal & Business Affairs, UPR may determine, for purposes of this Agreement.

  • 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.

  • Annual Compensation The Executive’s “Annual Compensation” for purposes of determining severance payable under this Agreement shall be deemed to mean the sum of (i) the annual rate of Base Salary as of the Date of Termination, and (ii) the cash bonus, if any, earned by the Executive for the calendar year immediately preceding the year in which the Date of Termination occurs.

  • 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.

  • DEDUCTIONS FROM SALARY A. The Board agrees to deduct from teachers’ salaries membership dues and assessments for the Xxxxxx County Education Association, the Maryland State Teachers’ Association, and the National Education Association as said teachers individually and voluntarily authorize to deduct through an appropriate written authorization form prepared by the Association. The Board agrees to transmit such monies promptly to the Association.

Time is Money Join Law Insider Premium to draft better contracts faster.