Material Reduction definition

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 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 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

  • Plan provisions for the immediately preceding plan year may be provided if the Benefits Consultant determines that there have been no changes to such plans that would materially affect the determination of whether there is a Material Reduction.

  • The determination of whether or not the Acquiring Company’s Retirement and Welfare Benefits represent a Material Reduction to the Retirement and Welfare Benefits provided to the Employee by his Employing Company shall be determined on an aggregate basis.

  • The taking of any action or the failure to take any action by the Employing Company that would directly or indirectly cause a Material Reduction in the Retirement and Welfare Benefits to which an Employee is entitled, as compared to the Employee’s Retirement and Welfare Benefits to which the Employee was entitled on the day immediately preceding the day the Change in Control is Consummated.


More Definitions of Material Reduction

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;
Material Reduction means a cumulative twenty percent (20%) differential or more;
Material Reduction shall be considered cured within the meaning of paragraph 7(c)(i) of the Agreement by payment to you within 90 days of an amount sufficient to cause the Reduction to be under 6% for the Period. In no event shall such cure payment be made later than December 31st of the calendar year following the calendar year in which you remit the taxes for the Period. EXHIBIT B Form of General Release GENERAL RELEASE
Material Reduction or “Materially Reduces” has the meaning set forth in Exhibit B attached hereto, and certain other terms relating to the extraordinary optional prepayment on account of Change in Law are described in such Exhibit B, the terms and provisions of which are incorporated herein.
Material Reduction means a twenty percent (20%) differential or more;