Reduction in Compensation Sample Clauses
A Reduction in Compensation clause allows for the adjustment of payment amounts owed to a party under certain specified circumstances. Typically, this clause outlines the conditions under which compensation may be decreased, such as failure to meet performance standards, delivery delays, or partial completion of contractual obligations. By clearly defining when and how compensation can be reduced, this clause helps manage expectations and incentivizes compliance, ultimately protecting the interests of the paying party and ensuring fairness in the event of underperformance.
POPULAR SAMPLE Copied 1 times
Reduction in Compensation. Effective as of August 1, 2003 and continuing thereafter, the compensation under the Original Agreement shall be reduced as follows:
Reduction in Compensation. The compensation of any employee or officer of the City may be reduced within the salary range of that employee’s current classification. Such reduction in compensation may be put into effect upon finding that the employee’s performance is unsatisfactory for the employee’s classification and/or position.
Reduction in Compensation. The Company reduces the Base Salary of Employee and/or target bonus opportunity under the Incentive Bonus Plan, other than an isolated reduction not occurring in bad faith and which is not remedied by the Company promptly after notice given by Employee or any redesign or alteration of the Incentive Bonus Plan made by the Board to reflect new corporate objectives, new measurement devices or current economic conditions;
Reduction in Compensation. Section 4 of the Agreement is hereby amended in its entirety to read as follows:
Reduction in Compensation. Section 5 of the Agreement is hereby amended in its entirety to read as follows:
Reduction in Compensation. If the Executive terminates his employment for Good Reason or upon a Change in Control based upon a reduction by the Company of the Executive's Base Salary, then for purposes of subsections 1.7
Reduction in Compensation. The compensation of an employee may be reduced within the salary range of the employee’s current classification whenever the employee’s performance is below the standards established for the employee’s position. Such reduction in compensation can only be ordered by a division head or higher.
Reduction in Compensation. Demotion
Reduction in Compensation. If the Executive terminates her employment for Good Reason based upon a reduction by the Company of the Executive's Salary or Bonus Compensation, then for purposes of calculating the Termination Benefits under subsection 5(h), the Executive's Salary as of the Date of Termination shall be deemed to be the Executive's Salary immediately prior to the reduction that the Executive claims as grounds for Good Reason or Change in Control.
Reduction in Compensation. CONTRACTOR recognizes that the services provided under this Agreement represent a small fraction of the variety of services for which COUNTY is responsible, and that the Transient Occupancy Tax is a source of general revenue which may be allocated at the discretion of COUNTY's Board of Supervisors. Therefore, CONTRACTOR agrees that the compensation payable under Section 4, above, is subject to reduction by COUNTY in the event of financial conditions that result in reductions generally applicable to other General Fund budgets. COUNTY agrees to notify CONTRACTOR, in writing, not later than the 1st day of March of any reduction to the compensation due under Section 4 for the succeeding fiscal year. In the event that the COUNTY fails to notify CONTRACTOR by March 1 of a reduction in compensation in accordance with this paragraph, CONTRACTOR's compensation for the following year shall be calculated in accordance with Section 4.