Reduced Compensation. A reduction of five percent (5%) or more by the Company in any of the following amounts of compensation expressed in subparagraphs (i), (ii) or (iii) hereof, except for a less than ten percent (10%), across-the-board reduction in such compensation amounts similarly affecting ninety-five percent (95%) or more of all employees of the Company eligible for such compensation: (i) Executive's Base Salary; (ii) the sum of Executive's Base Salary plus Target Bonus under the Company's Short Term Bonus Plan, as in effect on the Employment Date; or (iii) the sum of Executive's Base Salary plus Target Bonus under the Short Term Bonus Plan and Long Term Bonus Plan plus the Target Award under the Equity Based Bonus Plan, each of which as in effect on the Employment Date.
Appears in 5 contracts
Samples: Change in Control Agreement (Southern Co), Change in Control Agreement (Southern Co), Change in Control Agreement (Southern Co)
