Decrease in Base Salary Sample Clauses

The Decrease in Base Salary clause establishes the conditions under which an employer may reduce an employee’s base salary during the term of employment. Typically, this clause outlines the permissible reasons for a salary reduction, such as company-wide pay cuts, changes in job responsibilities, or financial hardship, and may specify notice requirements or limits on the amount of reduction. Its core function is to provide a clear framework for salary adjustments, ensuring both parties understand when and how a decrease can occur, thereby reducing the risk of disputes and promoting transparency.
Decrease in Base Salary. The Agreement is hereby amended by adding the following sentence to the end of Section 3(a): “Effective as of April 5, 2020, Executive will be paid zero U.S. dollars of base salary until and through June 30, 2020, and Executive’s annual base salary of one million, seven hundred and fifty thousand U.S. dollars ($1,750,000) is reduced by four hundred seventeen thousand, one hundred and twenty-three U.S. dollars ($417,123), representing the portion of his annual base salary attributable to the period from April 5, 2020 through June 30, 2020.”
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Decrease in Base Salary. The Agreement is hereby amended by adding the following sentence to the end of Section 3(a): “Effective as of April 5, 2020, Executive will be paid seventy-one thousand, five hundred and six U.S. dollars ($71,506) of base salary until and through June 30, 2020, and Executive’s annual base salary of six hundred thousand U.S. dollars ($600,000) is reduced by seventy-one thousand, five hundred and six U.S. dollars ($71,506), representing the portion of his annual base salary attributable to the period from April 5, 2020 through June 30, 2020.”
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Decrease in Base Salary. The Employment Letter is hereby amended by adding the following sentence to the end of the section of the Employment Letter captioned “Compensation”: “Effective as of April 5, 2020, Executive will be paid seventy-six thousand, two hundred and seventy-three U.S. dollars ($76,273) of base salary until and through June 30, 2020, and Executive’s annual base salary of four hundred thousand U.S. dollars ($400,000) is reduced by nineteen thousand and sixty-eight U.S. dollars ($19,068), representing the portion of his annual base salary attributable to the period from April 5, 2020 through June 30, 2020.”
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Related to Decrease in Base Salary

  • Annual Base Salary During the Term, Executive shall receive a base salary at a rate of $500,000 per annum, which shall be paid in accordance with the customary payroll practices of the Company and shall be pro-rated for partial years of employment. Such annual base salary shall be reviewed (and may be adjusted) from time to time by the Board (such annual base salary, as it may be adjusted from time to time, the “Annual Base Salary”).

  • Base Salary Executive will be paid an annual base salary, during the Term, in the amount set forth in Addendum A, as may be increased or decreased by Employer from time to time (“Base Salary”). The Base Salary shall be payable by Employer in regular installments in accordance with Employer’s general payroll practices (in effect from time to time). All amounts payable to Executive as compensation hereunder shall be subject to all required and customary withholding by Employer.

  • 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 Compensation During the time that Executive is an employee of the Company, the Company shall pay to Executive a base salary (the “Base Salary”) of $333,000 per annum, payable in regular installments in accordance with the Company’s usual payment practices. The Base Salary shall be reviewed by the Board of Directors’ Compensation Committee during the term of this Agreement and adjusted accordingly at the discretion of the Compensation Committee.

  • 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.