Salary Reduction Amount Clause Samples

Salary Reduction Amount. Subject to the annual contribution limits and other requirements of the Plan as described on the attachment to this Agreement, I authorize my Employer to reduce my cash compensation by: % of my gross cash compensation or $ for each pay period. (Percentage) (Dollar Amount) I am age 50 or older and elect to make additional catch-up contributions to the Plan subject to the annual limits on catch-up contributions. I authorize my Employer to reduce my cash compensation by: % of my gross cash compensation or $ for each pay period. (Percentage) (Dollar Amount)
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Salary Reduction Amount. Subject to the annual contribution limits and other requirements of the Plan as described on the attachment to this Agreement, I authorize my Employer to reduce my cash compensation by: Complete One: $ for each pay period (Dollar Amount) % of my gross cash compensation (Percentage)
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Salary Reduction Amount. An eligible employee may elect to have his or her compensation reduced by a specified percentage or amount per pay period, as designated in writing to the employer.
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Salary Reduction Amount. The amount of Compensation in any Period of Coverage elected, or deemed elected, by the Participant to be applied to the purchase of Benefit Options under the Flexible Benefits Plan pursuant to a Salary Reduction Agreement. An individual who is the Participant’s “spouse” within the meaning of federal tax law.
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Salary Reduction Amount. In accordance with and subject to the provisions of the Plan, as the same may be amended from time to time, Employee is eligible and voluntarily elects to reduce his or her 1996 salary as follows: a. Employee hereby agrees to a reduction in salary by $____________ or _____% each pay period for services performed subsequent to this Agreement; b. Employee understands that this Salary Reduction Agreement applies only to salary earned after this Agreement is in effect and is binding with respect to salary earned while it is in effect; c. Employee further; understands that changes in the amount of salary reduction may be made only prior to the beginning of Employee's taxable year for which the salary is payable; and d. Employee further understands that he or she may terminate this Agreement at any time, with respect to salary not yet earned, by filing a written notice of termination with the Plan Administrator.
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Related to Salary Reduction Amount

  • 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.

  • Reallocation to a Class with a Lower Salary Range Maximum 1. If the employee meets the skills and abilities requirements of the position and chooses to remain in the reallocated position, the employee retains the existing appointment status and has the right to be placed on the Employer’s internal layoff list for the classification occupied prior to the reallocation. 2. If the employee chooses to vacate the position or does not meet the skills and abilities requirements of the position, the layoff procedure specified in Article 31 of this Agreement applies.

  • Contribution Amounts The Company, the Selling Shareholders and the Underwriters agree that it would not be just or equitable if contribution pursuant to this Section 8 were determined by pro rata allocation (even if the Underwriters were treated as one entity for such purpose) or by any other method of allocation that does not take account of the equitable considerations referred to in Section 8.6. The amount paid or payable by an indemnified party as a result of the losses, claims, damages and liabilities referred to in the immediately preceding paragraph shall be deemed to include, subject to the limitations set forth above, any legal or other expenses reasonably incurred by such indemnified party in connection with investigating or defending any such action or claim. Notwithstanding the provisions of this Section 8, no Underwriter shall be required to contribute any amount in excess of the amount by which the total price at which the Shares underwritten by it and distributed to the public were offered to the public exceeds the amount of any damages that such Underwriter has otherwise been required to pay by reason of such untrue or alleged untrue statement or omission or alleged omission. No person guilty of fraudulent misrepresentation (within the meaning of Section 11(f) of the Securities Act) shall be entitled to contribution from any person who was not guilty of such fraudulent misrepresentation. The remedies provided for in this Section 8 are not exclusive and shall not limit any rights or remedies which may otherwise be available to any indemnified party at law or in equity.

  • Maximum Contribution The total amount you may contribute to an IRA for any taxable year cannot exceed the lesser of 100 percent of your compensation or $6,000 for 2019 and 2020, with possible cost- of-living adjustments each year thereafter. If you also maintain a ▇▇▇▇ ▇▇▇ (i.e., an IRA subject to the limits of Internal Revenue Code Section (IRC Sec.) 408A), the maximum contribution to your Traditional IRAs is reduced by any contributions you make to your ▇▇▇▇ IRAs. Your total annual contribution to all Traditional IRAs and ▇▇▇▇ IRAs cannot exceed the lesser of the dollar amounts described above or 100 percent of your compensation.

  • Optional Termination and Reduction of Aggregate Credit Amounts (i) The Borrower may at any time terminate, or from time to time reduce, the Aggregate Maximum Credit Amounts; provided that (A) each reduction of the Aggregate Maximum Credit Amounts shall be in an amount that is an integral multiple of $1,000,000 and not less than $5,000,000 and (B) the Borrower shall not terminate or reduce the Aggregate Maximum Credit Amounts if, after giving effect to any concurrent prepayment of the Loans in accordance with Section 3.04(c), the total Revolving Credit Exposures would exceed the total Commitments. (ii) The Borrower shall notify the Administrative Agent of any election to terminate or reduce the Aggregate Maximum Credit Amounts under Section 2.06(b)(i) at least three Business Days prior to the effective date of such termination or reduction, specifying such election and the effective date thereof. Promptly following receipt of any notice, the Administrative Agent shall advise the Lenders of the contents thereof. Each notice delivered by the Borrower pursuant to this Section 2.06(b)(ii) shall be irrevocable. Any termination or reduction of the Aggregate Maximum Credit Amounts shall be permanent and may not be reinstated. Each reduction of the Aggregate Maximum Credit Amounts shall be made ratably among the Lenders in accordance with each Lender’s Applicable Percentage.