Common use of Wage Reduction Clause in Contracts

Wage Reduction. From and after the effective date on which an employee becomes a Participant, each employee will have or will have had his/her gross wages or earnings reduced by %, except for new hires. (See Item 7.) Such wage reduction and/or reduced wages shall include vacation, sick pay, holiday pay, funeral leave, jury duty and other paid for time not worked. Wage or salary increases given during the term of the Plan will be subject to the applicable wage or salary reduction.