Pay Reduction Sample Clauses

A Pay Reduction clause allows an employer to decrease an employee's salary or wages under specified circumstances. Typically, this clause outlines the conditions under which pay may be reduced, such as changes in job duties, company financial difficulties, or performance issues, and may require advance notice to the employee. Its core practical function is to provide a clear, contractual basis for adjusting compensation, thereby helping both parties understand when and how pay changes can occur and reducing the risk of disputes.
Pay Reduction. A Full-Time Faculty Member's yearly contract will be reduced pro rata for each day of unpaid leave. The proration shall be based on the number of working days in the Faculty Member's assignment.
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Pay Reduction. The reduction in pay of one or more pay steps where performance falls short of normal established standards or where performance is clearly inadequate in one or more of the critical job duties for the position.
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Pay Reduction. All employees shall receive a one day pay reduction (equivalent to ten percent (10%) of the bi- weekly total salary rate, excluding overtime) which will be effective for one (1) payroll period during June 2009 as designated by the State. Employees so affected will be entitled to accrue one (1) additional day of paid leave during that payroll period. This leave will accrue to part-time employees on a pro rated basis. Employees may request to discharge this additional paid leave during any payroll period following the payroll period in which it was earned and/or elect cash payment for that one day in the fiscal year beginning July 2010 and until June 30, 2012. Any hours not discharged or paid as of June 30, 2012 will be lost. Balances of accrued vacation, sick and "deferred vacation" leave shall be paid at the pre-reduction rate of pay to employees who terminate or retire from State service during this salary reduction period. Employees completing their in-service training incentive credits during the salary reduction period will be awarded the appropriate salary adjustment based on the pre-reduction rate of pay. The State may waive the right to a pay reduction if there is sufficient funding. (a) There shall be an across-the-board base wage increase of 2.5% effective July 1, 2009. (b) There shall be an across-the-board base wage increase of 3.0% effective July 1, 2010. (c) There shall be an across-the-board base wage increase of 3.0% effective July 1, 2011.
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Pay Reduction. A CDC Teacher’s employment contract will be reduced pro rata for each day of unpaid leave. The pro-ration shall be based on the number of working days in the CDC Teacher’s assignment.
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Pay Reduction. ▇▇▇▇▇▇▇▇ acknowledges and agrees that his base salary during the Interim Period and the Remaining Interim Period, as well as contributions to and payment of other salary dependant benefits during those times, will be subject to any salary adjustment measures as may be applied by Agilent to a class of jobs that includes the position held by ▇▇▇▇▇▇▇▇ on the Effective Date of this Agreement. The Severance Payment set forth in 1.f. above shall not be impacted by any salary adjustment measures.
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Pay Reduction. All employees shall receive a one day pay reduction (equivalent to ten percent (10%) of the bi- weekly total salary rate, excluding overtime) which will be effective for one (1) payroll period during June 2009 as designated by the State. Employees so affected will be entitled to accrue one (1) additional day of paid leave during that payroll period. This leave will accrue to part-time employees on a pro rated basis. Employees may request to discharge this additional paid leave during any payroll period following the payroll period in which it was earned and/or elect cash payment for that one day in the fiscal year beginning July 2010 and until June 30, 2012. Any hours not discharged or paid as of June 30, 2012 will be lost. Balances of accrued vacation, sick and "deferred vacation" leave shall be paid at the pre- reduction rate of pay to employees who terminate or retire from State service during this salary reduction period. Employees completing their in-service training incentive credits during the salary reduction period will be awarded the appropriate salary adjustment based on the pre-reduction rate of pay. The State may waive the right to a pay reduction if there is sufficient funding.
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Related to Pay Reduction

  • Salary Reduction A reduction in pay from one step to another, which is not below the minimum rate established for the position by the salary plan. A copy of the notice of reduction shall be sent promptly to the City Manager Department for inclusion in the employee's official personnel file.

  • Voluntary Reduction The Borrower shall have the right at any time and from time to time, upon at least five (5) Business Days prior written notice to the Administrative Agent, to permanently reduce, without premium or penalty, (i) the entire Revolving Credit Commitment at any time or (ii) portions of the Revolving Credit Commitment, from time to time, in an aggregate principal amount not less than $3,000,000 or any whole multiple of $1,000,000 in excess thereof. Any reduction of the Revolving Credit Commitment shall be applied to the Revolving Credit Commitment of each Revolving Credit Lender according to its Revolving Credit Commitment Percentage. All Commitment Fees accrued until the effective date of any termination of the Revolving Credit Commitment shall be paid on the effective date of such termination.

  • Automatic Reduction Promptly following each date on which the Required Amount is reduced as a result of a reduction in the Pool Balance of the Class B Certificates or otherwise, the Maximum Commitment shall automatically be reduced to an amount equal to such reduced Required Amount (as calculated by the Borrower). The Borrower shall give notice of any such automatic reduction of the Maximum Commitment to the Liquidity Provider within two Business Days thereof. The failure by the Borrower to furnish any such notice shall not affect such automatic reduction of the Maximum Commitment.

  • Voluntary Reductions The Borrower shall have the right to terminate or permanently reduce the unused portion of the Revolving Committed Amount at any time or from time to time upon not less than five (5) Business Days’ prior written notice to the Administrative Agent (which shall notify the Lenders thereof as soon as practicable) of each such termination or reduction, which notice shall specify the effective date thereof and the amount of any such reduction which shall be in a minimum amount of $1,000,000 or a whole multiple of $1,000,000 in excess thereof and shall be irrevocable and effective upon receipt by the Administrative Agent; provided that no such reduction or termination shall be permitted if after giving effect thereto, and to any prepayments of the Revolving Loans made on the effective date thereof, the sum of the aggregate principal amount of outstanding Revolving Loans plus outstanding Swingline Loans plus outstanding LOC Obligations would exceed the Revolving Committed Amount then in effect.

  • Optional Reductions The Borrower may, upon notice to the Administrative Agent, terminate the Aggregate Revolving Commitments, or from time to time permanently reduce the Aggregate Revolving Commitments to an amount not less than the Outstanding Revolving Amount of Revolving Loans, Swing Line Loans and L/C Obligations; provided that (i) any such notice shall be received by the Administrative Agent not later than 1:00 p.m., five (5) Business Days prior to the date of termination or reduction, (ii) any such partial reduction shall be in an aggregate amount of $2,000,000 or any whole multiple of $1,000,000 in excess thereof and (iii) the Borrower shall not terminate or reduce (A) the Aggregate Revolving Commitments if, after giving effect thereto and to any concurrent prepayments hereunder, the Total Revolving Outstandings would exceed the Aggregate Revolving Commitments, (B) the Letter of Credit Sublimit if, after giving effect thereto, the Outstanding Revolving Amount of L/C Obligations not fully Cash Collateralized hereunder would exceed the Letter of Credit Sublimit, or (C) the Swing Line Sublimit if, after giving effect thereto and to any concurrent prepayments hereunder, the Outstanding Revolving Amount of Swing Line Loans would exceed the Swing Line Sublimit.