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.
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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.
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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.
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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
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

Related to REDUCTION OF BASE SALARY

  • 1Base Salary During the Period of Employment, the Company shall pay the Executive a base salary (the “Base Salary”), which shall be paid biweekly or in such other installments as shall be consistent with the Company’s regular payroll practices in effect from time to time. The Executive’s Base Salary shall be at an annualized rate of Seven Hundred Thousand dollars ($700,000.00). The Compensation Committee of the Board (the “Compensation Committee”) will review the Executive’s rate of Base Salary on an annual basis and may, in its sole discretion, increase (but not decrease) the rate then in effect.

  • 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 The Company shall pay to Executive a base salary (“Base Salary”) of $250,000 per year, payable in accordance with the payroll policies from time to time in effect at the Company. Executive’s Base Salary may be subject to increase (but shall not be subject to decrease) on an annual basis as the Board of Directors of the Company or any committee thereof (the “Board of Directors”) shall determine.

  • 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 For Executive’s services hereunder, Employer shall pay as base salary to Executive the amount of $188,000 during each year of the Employment Term. Said salary shall be payable in equal installments in conformity with Employer’s normal payroll period. Executive shall receive such salary increases, if any, as Employer, in its sole discretion, shall determine.

  • Basic Salary (a) During the Employment the Company shall pay the Executive a Basic Salary of not less than £415,000 per annum. The Basic Salary shall accrue from day to day and be payable by credit transfer in equal monthly instalments in arrears on or around the 25th day of each calendar month or otherwise as arranged from time to time.

  • Annual Base Compensation The Company agrees to pay the Executive during the term of this Agreement a salary at the rate of $335,000 per annum, payable in cash not less frequently than monthly.

  • 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.

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