Common use of Reduced Salary Clause in Contracts

Reduced Salary. A reduction of five percent (5%) or more by the Company in either of the following: (i) Mr. Boren's annual base salary rate as in effexx xxxxxxxxxxx xxxxx to the Change in Control (except for a less than ten percent (10%), across-the-board annual base salary rate reduction similarly affecting at least ninety-five percent (95%) of the Executive Employees of the Company); or (ii) the sum of Mr. Boren's annual base salary rate plus targex xxxxx xxxxx xxx Company's Short Term Plan (except for a less than ten percent (10%), across-the-board reduction of annual base salary rate plus target bonus under the Short Term Plan similarly affecting at least ninety-five percent (95%) of the Executive Employees of the Company);

Appears in 1 contract

Samples: Change in Control Agreement (Savannah Electric & Power Co)

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Reduced Salary. A reduction of five percent (5%) or more by the Company in either of the following: (i) Mr. BorenHill's annual base salary rate as in effexx xxxxxxxxxxx xxxxx sxxxxx xxxx xx xx xxxect immediately prior to the Change in Control (except for a less than ten percent (10%), across-the-board annual base salary rate reduction similarly affecting at least ninety-five percent (95%) of the Executive Employees of the Company); or (ii) the sum of Mr. BorenHill's annual base salary rate plus targex xxxxx xxxxx xxx xxxxxx xxxx xxxx xarget bonus under the Company's Short Term Plan (except for a less than ten percent (10%), across-the-board reduction of annual base salary rate plus target bonus under the Short Term Plan similarly affecting at least ninety-five percent (95%) of the Executive Employees of the Company);

Appears in 1 contract

Samples: Change in Control Agreement (Mirant Corp)

Reduced Salary. A reduction of five percent (5%) or more by the Company in either of the following: : (i) Mr. BorenMiller's annual base salary rate as xxxx xx in effexx xxxxxxxxxxx xxxxx effect immediately prior to the Change in Control (except for a less than ten percent (10%), across-the-board annual base salary rate reduction similarly affecting at least ninety-five percent (95%) of the Executive Employees of the Company); or or (ii) the sum of Mr. BorenMiller's annual base salary rate rxxx plus targex xxxxx xxxxx xxx target bonus under the Company's Short Term Plan (except for a less than ten percent (10%), across-the-board reduction of annual base salary rate plus target bonus under the Short Term Plan similarly affecting at least ninety-five percent (95%) of the Executive Employees of the Company);

Appears in 1 contract

Samples: Change in Control Agreement (Mirant Corp)

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Reduced Salary. A reduction of five percent (5%) or more by the Company in either of the following: : (i) Mr. BorenPershing's annual base salary rate as in effexx xxxxxxxxxxx xxxxx salarx xxxx xx xx effect immediately prior to the Change in Control (except for a less than ten percent (10%), across-the-board annual base salary rate reduction similarly affecting at least ninety-five percent (95%) of the Executive Employees of the Company); or (ii) the sum of Mr. BorenPershing's annual base salary salxxx rate plus targex xxxxx xxxxx xxx target bonus under the Company's Short Term Plan (except for a less than ten percent (10%), across-the-board reduction of annual base salary rate plus target bonus under the Short Term Plan similarly affecting at least ninety-five percent (95%) of the Executive Employees of the Company);

Appears in 1 contract

Samples: Change in Control Agreement (Mirant Corp)

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