Reduced Position Sample Clauses

A Reduced Position clause defines the circumstances under which a party's obligations or exposure under a contract are decreased, typically due to partial performance, settlement, or offsetting transactions. In practice, this clause may apply when a party has entered into multiple related agreements and the net exposure is recalculated to reflect only the outstanding or remaining obligations. By specifying how and when positions are reduced, the clause helps ensure that parties are only responsible for their actual, current obligations, thereby preventing overstatement of risk and clarifying the true extent of contractual commitments.
Reduced Position. Reduced Position" of a person shall mean, (i) without Officer's express written consent, a significant reduction of Officer's duties, position, compensation, or responsibilities in the Surviving Entity following the Change of Control, unless such Reduced Position is of equal or greater organizational level, duties, authority, compensation, and status as the position held by such Officer immediately prior to the date of such reduction in position; provided however, that a reduction in duties or responsibilities solely by virtue of the Company being acquired and made part of a larger entity (as, for example, when the Chief Financial Officer of Company remains the principal financial officer of the Company following a Change of Control and is not made the Chief Financial Officer of the acquiring corporation) shall not constitute a "Reduced Position"
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Reduced Position. Reduced Position" of a person shall mean, without Officer's express written consent, a significant reduction of Officer's duties, position, compensation, or responsibilities in the Surviving Entity following the Change of Control, unless such Reduced Position is of equal or greater organizational level, duties, authority, compensation, and status as the position held by such Officer immediately prior to the date of such reduction in position, all as reasonably determined by both the Board of Directors of the Company and the CEO of the company acquiring or merging with the Company (or the CEO of the parent of such company if it is a subsidiary acquisition or merger); provided however, that a reduction in duties or responsibilities solely by virtue of the Company being acquired and made part of a larger entity (as, for example, when the Chief Financial Officer of Company remains the principal financial officer of the Company following a Change of Control and is not made the Chief Financial Officer of the acquiring corporation) shall not constitute a "Reduced Position."
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Reduced Position 
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Related to Reduced Position

  • New Position An approved position not reflected in the current year budget complement.

  • Supervisory Differential Adjustment The Appointing Officer shall adjust the compensation of a supervisory employee whose compensation grade is set herein subject to the following conditions:

  • Permanent Positions All part-time and full-time positions shall be permanent unless identified as being fixed term in accordance with clause 2.2.5.

  • Shift Differential Pay SECTION 1: In addition to compensation provided by the wage schedule, employees working between the hours of 3:00 P.M. and 7:00 A.M. shall be paid a shift differential premium of $.45 (forty-five cents) per hour in addition to the regular pay for those hours. SECTION 2: Employees must work a minimum of 3 (three) hours in order for shift differential to apply.

  • Return to Position Upon return from FMLA leave, the employee shall be returned to the same or equivalent position in the same class and work location, including the same shift or equivalent schedule, unless the University and the employee agree in writing to other conditions and terms under which such leave is to be granted.