Material Reduction means a ten percent (10%) differential;
Material Reduction means (i) any change in a retirement plan or arrangement that has the effect of reducing the present value of the projected benefits to be provided to Xx. Xxxxxxx by five percent (5%) or more, (ii) any five percent (5%) or more reduction in medical, health and accident and disability benefits as a percentage of premiums or premium equivalents in accordance with the Company’s prior practice as measured over a period of the three previous plan years from the date the Change in Control is Consummated, or (iii) any five percent (5%) or more reduction in employer matching funds as a percentage of employee contributions in accordance with the Company’s prior practice measured over a period of the previous three plan years from the date the Change in Control is Consummated.
Material Reduction means a Reduction of at least 15% of the total backlog publicly reported by the Company in the preceding quarter. By “Reduction,” this provision is intended to relate to system sales which are included in publicly-disclosed backlog but are then removed due to the cancellation of the transaction. Removals from backlog due to the fact that a system sale shipped and was recognized as revenue or where a system is removed from backlog due to it being in backlog longer than the time provided for by the Company’s backlog criteria shall not count as a “Reduction.” Any action taken by the Board pursuant to this provision would be in addition to any other actions the Board may take under the Company’s policies, as modified from time to time, or any actions imposed by law enforcement, regulators or other authorities.
Examples of Material Reduction in a sentence
Notice of Cancellation, Nonrenewal, or Material Reduction in Coverage, as required in 18(b)(vi), above.
The Plan Administrator shall notify all eligible Employees of any plan amendment considered a Material Reduction in covered services or benefits provided by the Plan as soon as administratively feasible after its adoption, but no later than 60 days after the date of adoption of the reduction.
A Material Reduction generally means any modification that would be considered by the average Participant to be an important reduction in covered services or benefits.
The 60 day period for furnishing a summary of Material Reduction does not apply to any Employee covered by the Plan who would reasonably expect to receive a summary through other means within the next 90 days.
Material Reduction disclosure provisions are subject to the requirements of ERISA and the Health Insurance Portability and Accountability Act of 1996 (HIPAA) and any related amendments.
More Definitions of Material Reduction
Material Reduction means (i) any change in a retirement plan or arrangement that has the effect of reducing the present value of the projected benefits to be provided to Executive by five percent (5%) or more, (ii) any five percent (5%) or more reduction in medical, health and accident and disability benefits as a percentage of premiums or premium equivalents in accordance with the Company's prior practice as measured over a period of the three previous plan years from the Employment Date, or (iii) any five percent (5%) or more reduction in employer matching funds as a percentage of employee contributions in accordance with the Company's prior practice measured over a period of the previous three plan years from the Employment Date.
Material Reduction means circumstances involving a material reduction in Participant’s position, authority, base compensation or benefits or a hostile or adverse work environment with respect to Participant’s employment by the Company or a Related Company, taken as a whole.
Material Reduction means (i) any change in a retirement plan or arrangement that has the effect of reducing the present value of the projected benefits to be provided to an Employee by five percent (5%) or more, (ii) any five percent (5%) or more reduction in medical, health and accident and disability benefits as a percentage of premiums or premium equivalents in accordance with the Employing Company’s prior practice as measured over a period of the three previous plan years from the date the Change in Control is Consummated, or (iii) any five percent (5%) or more reduction in employer matching funds as a percentage of employee contributions in accordance with the Employing Company’s prior practice measured over a period of the previous three plan years from the date the Change in Control is Consummated.
Material Reduction means a cumulative twenty percent (20%) differential or more;
Material Reduction means a reduction of more than ten percent (10%) to the employer-provided value that the Employee is expected to derive from his Retirement and Welfare Benefits, as reasonably determined by the Compensation Committee; provided, however, that with respect to an Employee who provides notice of Good Reason pursuant to Section 2.27(f), whether such ten percent (10%) reduction is expected to occur shall be determined by the Benefits Consultant using the most recently available Benefits Index and shall be set forth in a written opinion of the Benefits Consultant, and the following guidelines shall be followed by the Company, the Acquiring Company and the Benefits Consultant in the performance of the Benefit Index calculations:
Material Reduction means any material reduction in the Services;