Downward Adjustment. Any downward adjustment of any position or class of positions shall be considered a demotion and shall take place only as a result of following the layoff procedures of this Agreement.
Downward Adjustment. 19.6.1 Any involuntary downward adjustment of any position or class of positions shall be considered a demotion.
Downward Adjustment. Downward adjustment of any bargaining unit employee’s position or class of positions shall be considered a demotion and shall not take place until the employee is given fifteen (15) days written notice, and Association and the County Office have had an opportunity to discuss the situation prior to Board action.
Downward Adjustment. In the event that the pay range for a classification is adjusted downward pursuant to this Section 8.4 (Market-Based Adjustments), the pay rate of employees in that classification will remain unchanged. If the employee’s rate is over the maximum of the new range, the employee’s pay will be frozen and the employee will not receive any increase on base pay until the top of the new range has exceeded the frozen rate of pay.
Downward Adjustment. If the Final Working Capital (as finally determined pursuant to Section 2.9(b)) is less than the Target Working Capital, then the Purchase Price will be adjusted downward by the amount of the shortfall (the “Working Capital Shortfall”), and Seller shall pay or cause to be paid to Buyer an amount in cash equal to the Working Capital Shortfall, by wire transfer of immediately available funds to an account or accounts designated in writing by Buyer to Seller. Any such payment is to be made within five Business Days of the date on which the Final Working Capital is finally determined pursuant to Section 2.9(b).
Downward Adjustment. When it is agreed that an entire classification shall be reallocated to a lower salary classification, all incumbents serving therein shall be continued at their former rate of pay until future salary adjustments provide a salary increase for those incumbents in the new salary classification. Any other downward adjustment of salary shall be considered a demotion, and shall take place only in accordance with the layoff or disciplinary procedures of this Agreement and applicable law.
Downward Adjustment. No position shall be adjusted downward during the life of this Agreement.
Downward Adjustment. If, following determination of the Final Consideration in accordance with this Section 2.05, there is a Downward Adjustment Amount, the Acquiror and the Sellers’ Representative shall deliver joint written instructions to the Escrow Agent, within three (3) Business Days from the date on which the Final Consideration is finally determined pursuant to this Section 2.05, instructing the Escrow Agent to pay to the Acquiror, from the Adjustment Escrow Account, an amount equal to the Downward Adjustment Amount (if the Downward Adjustment Amount is less than the Adjustment Escrow Amount) or the Adjustment Escrow Amount (if the Downward Adjustment Amount is equal to or greater than the Adjustment Escrow Amount), by wire transfer of immediately available funds to an account or accounts designated by the Acquiror. If the Adjustment Escrow Amount is insufficient to satisfy the Downward Adjustment Amount in full, the Acquiror and the Sellers’ Representative shall deliver joint written instructions to the Escrow Agent, within three (3) Business Days from the date on which the Final Consideration is finally determined pursuant to this Section 2.05, instructing the Escrow Agent to pay to the Acquiror an amount equal to the excess of the Downward Adjustment Amount over the Adjustment Escrow Amount from the Indemnity Escrow Amount by wire transfer of immediately available funds to an account or accounts designated by the Acquiror. After the Downward Adjustment Amount is fully paid to the Acquiror in accordance to this Section 2.05(g), the Acquiror and the Sellers’ Representative shall deliver joint written instructions to the Escrow Agent, instructing the Escrow Agent to release the balance of the funds remaining in the Adjustment Escrow Account, if any, to the Sellers’ Representative (for the benefit of Sellers) within one (1) Business Day from the date on which the Downward Adjustment Amount is paid to the Acquiror in accordance with this Section 2.05(g), by wire transfer of immediately available funds to an account or accounts designated by the Sellers’ Representative.
Downward Adjustment. 18.5 Salary Placement of Reclassified Positions 18.6 Reclassification Requests
Downward Adjustment. Notwithstanding anything in this Agreement to the contrary, in exceptional circumstances, acting fairly and reasonably, the Committee may apply a downward adjustment to the level of vesting of Restricted Stock Units under Section 4 if, in its opinion, the Relative Three Year TSR performance metric produces a vesting outcome that is materially misaligned with the underlying performance of the Company. In particular, if there has been a downturn in financial performance or a reduction in the value of the Company either of which is considered by the Committee to be both significant and inconsistent with the calculated vesting outcome, then the Committee may reduce the number of Restricted Stock Units vesting on such basis as it shall deem reasonable.
