Reduction of Salary Sample Clauses

Reduction of Salary. During the Change in Control Protective Period, the Executive's Base Salary may not be reduced to an annual rate less than the Base Salary rate fixed by the UIL Board as a result of its most recent review of salary rates, unless such reduction is part of, and consistent with, a general reduction of the compensation rates of all employees of the Company, its successor, or purchaser of assets, as the case may be.
Sample 1Sample 2Sample 3See All (8)
AutoNDA by SimpleDocs
Reduction of Salary. The salary of no teacher shall be reduced except as provided in Chapter 71, Section 43 of the General Laws.
Sample 1Sample 2Sample 3See All (4)
Reduction of Salary. Pursuant to the Contribution and Operating Agreement, dated as of February 7, 1997, by and among the Parent Company, Success Holdings Company, LLC, an Illinois limited liability company ("Success Holdings") and Xxxxx Xxxxxx ("Xxxxxx"), the Company will receive $500,000 from Xxxxxx and Xxxxxx will arrange to have a $250,000 line of credit established for use by the Company. If, after such amount has been received by the Company and such line of credit has been utilized in full, the Board of Directors of the Parent Company determines, after due regard for the Company's financial condition, and current and future capital commitments, that the Company does not have sufficient cash flow to pay the Base Salary, then the Executive's salary shall be reduced to $15,000 per month until such time as the Parent Company's Board of Directors shall determine that the Company's cash flow is sufficient to pay the Base Salary. In the event such determination of sufficiency is made, the Executive shall receive any portion of the Base Salary not paid during such period over such period of time as the Board of Directors of the Parent Company shall determine.
Sample 1
Reduction of Salary. In the event of an act of God; strike, lockout or other labor dispute; power outage; pandemic or epidemic event; quarantine; natural disaster; war; any decision, order, law, rule or regulation, or restriction of the Rocky Mountain Athletic Conference (“RMAC”) or of the NCAA, or any successor conference or association of which the University may be a member; any decision, order, law, rule or regulation, or restriction of any federal, state or municipal agency or official; or the occurrence of any other event that is beyond the reasonable control of the University and which results in a significant loss or interruption in Athletics Department revenues, the Athletics Director shall have the right to reduce the Coach’s Base and Supplemental Salary up to the same percentage and for the same duration as shall be applied to officers and University staff employees of the Athletics Department.
Sample 1

Related to Reduction of Salary

  • Payment of Salary Executive acknowledges and represents that the Company has paid all salary, wages, bonuses, accrued vacation, commissions and any and all other benefits due to Executive.

  • Payment of Salary and Receipt of All Benefits Employee acknowledges and represents that, other than the consideration set forth in this Agreement, the Company has paid or provided all salary, wages, bonuses, accrued vacation/paid time off, premiums, leaves, housing allowances, relocation costs, interest, severance, outplacement costs, fees, reimbursable expenses, commissions, stock, stock options, vesting, and any and all other benefits and compensation due to Employee.

  • 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.

  • 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.

  • Salary No salary will be paid to a Member for the performance of his or her duties under this Agreement unless the salary has been approved in writing by a Majority of the Members.

  • Base Salary During the Employment Term, the Company shall pay Executive a base salary at the annual rate of $250,000, payable in regular installments in accordance with the Company's usual payment practices. Executive shall be entitled to such increases in Executive's base salary, if any, as may be determined from time to time in the sole discretion of the Board. Executive's annual rate of base salary, as in effect from time to time, is hereinafter referred to as the "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.

  • 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.

  • Severance Compensation and Benefits Not in Derogation of Other Benefits Anything to the contrary herein contained notwithstanding, the payment or obligation to pay any monies, or granting of any benefits, rights or privileges to Executive as provided in this Agreement shall not be in lieu or derogation of the rights and privileges that the Executive now has or will have under any plans or programs of or agreements with the Company, except that if the Executive received any payment hereunder, the Executive shall not be entitled to any payment under the Company’s severance policy for officers and directors.

  • 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.

Time is Money Join Law Insider Premium to draft better contracts faster.