Reduction. A. No regular employee or limited-term regular employee shall be reduced to a position in a lower class for reasons of unsatisfactory performance or physical disability except for reasonable cause.
B. A written notice of such reduction stating specifically the cause of the reduction shall be given to the employee.
C. In accordance with the provisions of Article X, an appeal of reduction for reasons of unsatisfactory performance or physical disability shall be initiated at the Step 2 of the grievance/appeal procedure; except for reductions imposed by the County Executive Officer which may be referred directly to arbitration.
Reduction. Effective as of January 1, 2011 (the “Reduction/Extension Date”), the Original Premises is decreased from 12,548 rentable square feet to 9,172 rentable square feet by the elimination of the Reduction Space (the “Reduction”). The portion of the Original Premises remaining following the surrender of the Reduction Space commonly known as Suite 1050 is hereafter referred to as the “Retained Premises.” The Reduction Space and Retained Premises are depicted on Exhibit “A” attached hereto and incorporated herein by this reference. On or before the Reduction/Extension Date, Tenant shall surrender the Reduction Space to Landlord as provided in the Lease, as amended hereby (the “Amended Lease”). From and after the Reduction/Extension Date and Tenant’s proper surrender of the Reduction Space, the Lease shall be deemed terminated with respect to the Reduction Space, and the term “Premises”, as defined in the Lease, shall be deemed to mean the Retained Premises. Tenant shall vacate the Reduction Space in accordance with the terms of the Lease on or before the Reduction/Extension Date and Tenant shall fully comply with all obligations under the Lease respecting the Reduction Space up to the Reduction/Extension Date; provided however, Tenant shall not be required to remove any improvements or alterations made by Tenant as of the date hereof to the Reduction Space. Notwithstanding the foregoing, following the Reduction/Extension Date, Tenant shall be permitted to enter the Reduction Space for the sole purpose of accessing the server room (the “Server Room”) located therein; provided, however, Landlord may terminate Tenant’s right of entry into the Server Room at any time during the Extended Term upon thirty (30) days prior written notice to Tenant (the “Server Room Notice”), whereupon Tenant’s right of entry shall immediately terminate, and Tenant shall surrender the Server Room pursuant to the terms of the Amended Lease, including removal all furniture, fixtures, equipment and personal property from the Server Room on or before the Server Room Notice. If Tenant shall holdover in the Reduction Space beyond the Reduction/Extension Date and/or the Server Room beyond the thirtieth (30th) after the date of the Server Room Notice, Tenant shall be liable for Base Rent, Additional Rent and other charges respecting the Reduction Space pursuant to the terms of the Lease, including Section 22 thereof, and consequential and other damages arising from Tenant’s holding over.
Reduction. The reduction of Executive’s annual salary, projected or target annual bonus (including any deferred portions), level of benefits (except for a reduction uniformly applicable to all similarly situated executives), target long-term incentives, stock options, projected Supplemental Executive Retirement Plan benefits, or supplemental compensation in effect at the beginning of the Protected Period; or
Reduction. In the event that any portion of the Total Payments payable to Executive in connection with a Change in Control of Corporation would constitute an “excess parachute payment” within the meaning of IRC § 280G(b) that is subject to the excise tax imposed on so-called excess parachute payments pursuant to IRC §4999 (an “Excise Tax”), the Change in Control Payments otherwise payable under Section 8.2(a) will be reduced to avoid such Excise Tax if, and to the extent that, such reduction will result in a larger after-tax benefit to Executive, taking into account all applicable federal, state, and local income and excise taxes.
Reduction. Anything in this Agreement to the contrary notwithstanding, prior to the payment of the Lump Sum or the benefits payable hereunder in connection with the Executive's termination of employment, the certified public accountants for the Company immediately prior to a Change in Control (the "Certified Public Accountants"), shall determine as promptly as practical and in any event within 20 business days following the termination of employment of Executive whether any payment or distribution by the Company to or for the benefit of the Executive (whether paid or payable or distributed or distributable pursuant to the terms of this Agreement or otherwise) (a "Payment") would more likely than not be nondeductible by HUBCO for Federal income purposes because of Section 280G of the Internal Revenue Code of 1986, as amended (the "Code"), and if it is then the aggregate present value of amounts payable or distributable to or for the benefit of the Executive pursuant to this Agreement in connection with the Executive's termination of employment (such payments or distributions pursuant to this Agreement are hereinafter referred to as "Agreement Payments") shall be reduced (but not below zero) to the Reduced Amount. For purposes of this paragraph, the "Reduced Amount" shall be an amount expressed in present value which maximizes the aggregate present value of Agreement Payments without causing any Payment to be nondeductible by HUBCO because of said Section 280G of the Code.
Reduction. If a registration initiated by any Institutional Investors pursuant to Section 1.1.1 is an underwritten registration and the managing underwriters advise the Company and the Holders and any Other Shareholders participating in the registration that in their opinion due to marketing factors the number of shares of Common Stock requested to be included in such registration exceeds the number which can reasonably be expected to be sold in such offering, then the amount of such shares that may be included in such registration shall be allocated as follows: (i) first, the shares proposed to be sold by the Institutional Investors exercising rights under Section 1.1.1 and any other Institutional Investors proposing to sell shares of Common Stock pursuant to such registration in accordance with the terms hereof, shall be included in such registration and, if all such shares cannot be included in such registration due to marketing factors, the amount of shares to be included in such registration by all such Institutional Investors shall be allocated pro rata among such Institutional Investors in proportion to the number of Registrable Securities owned by them, (ii) second, the shares proposed to be sold by any other Holders shall be included in such registration and, if all such shares cannot be included in such underwriting due to marketing factors, the amount of shares to be included in such registration by all such other Holders shall be allocated pro rata among such other Holders in proportion to the number of Registrable Securities owned by them, (iii) third, the shares proposed to be sold by the Company shall be included in such registration, and (iv) fourth, the shares proposed to be sold by Other Shareholders shall be included in such registration and, if all such shares cannot be included in such underwriting due to marketing factors, the amount of shares to be included in such registration by all such Other Shareholders shall be allocated pro rata among such Other Shareholders in proportion to the number of shares of Common Stock (calculated on an as-converted into Common Stock basis) owned by them.
Reduction. (a) No tenured employee shall be laid off if there are non-tenured employees in the layoff unit.
(b) No employee in a non-tenured position in the layoff unit with more than five (5) years of continuous University service shall be laid off if there are any such employees with five (5) years or less service.
(c) Where employees are equally qualified under (a) or (b), above, those employees will be retained who, in the judgment of the University, will best contribute to the mission and purpose of the institution and the academic needs of the program. The determination of which employees are to be laid off shall be based on the following factors: length of continuous University service; performance evaluation by students, peers, and supervisors; academic training; professional reputation; teaching effectiveness; research record or quality of the creative activity in which the employee may be engaged; service to the profession, community, and public; qualifications to teach courses offered in the unit and relevant standards of accrediting agencies.
(d) No employee shall be laid off solely for the purpose of creating a vacancy to be filled by an administrator entering the bargaining unit.
(e) The University shall notify the UFF Chapter in writing in advance regarding the proposed use of adjunct and other non-unit faculty in those departments/units where employees have been laid off. Any such use of adjunct or other non-unit faculty in departments/units where employees have been laid off shall be subject to bargaining.
Reduction. Without limiting any other right or remedy of DFAT, DFAT may reduce the amount of any instalment of grant funding under this Agreement: if by the date for payment of the instalment the Recipient has not spent Funds in accordance with the Payment Criteria, by the amount that has not been spent; or if Funds have been spent other than in accordance with this Agreement, by the amount that was spent other than in accordance with this Agreement. Subject to this Clause 7 (Payment of Funds by DFAT) and DFAT being satisfied with: the Recipient's performance of the Activity; and the achievement of the Payment Criteria, DFAT must make payment within 30 days of receiving a correctly rendered invoice. If an invoice is found to have been rendered incorrectly after payment, any underpayment or overpayment will be recoverable by or from the Recipient, as the case may be. The Recipient must pay: all stamp duty (including penalties and interest) assessed or payable in respect of this Agreement and the Activity; and all taxes, duties and government charges imposed or levied in Australia or overseas in connection with the performance of this Agreement. Claims for payment If the Recipient has achieved the Payment Criteria in respect of the applicable instalment, then not earlier than the due date specified in Table 2 (Payment Criteria) of Part A (Agreement Details), the Recipient must submit to DFAT a claim for payment of the relevant instalment of the grant funding. A Payment Claim submitted under clause must include a correctly rendered invoice to DFAT in accordance with the requirements specified in Clause 9 (Invoicing Requirements). Invoicing Requirements To be a correctly rendered invoice the invoice must include: the agreement number and Activity title; the payment event number(s) notified by DFAT; the amount of grant funding to be paid by DFAT together with any substantiating material required; the name of the DFAT Representative; be accompanied by any supporting documentation and other evidence specified in Table 2 (Payment Criteria) of Part A (Agreement Details) for that instalment; and such other information as DFAT requires. Where Australian GST applies to this Agreement, all invoices must be in the form of a valid tax invoice. Invalid tax invoices will be returned to the Recipient. Information on what constitutes a valid tax invoice can be found at: xxxx://xxx.xxx.xxx.xx/xxxxxxxxxx/xxxxxxx.xxx?xxx=/xxxxxxx/00000.xxx Invoices must be submitted to: Department of Fore...
Reduction. Credit Decision whereby We reduce the amount set in a previous Credit decision. Refusal: Credit Decision whereby We refuse cover in respect of a Buyer.
Reduction as applied to any aspect of the Executive’s compensation or benefits, means any exclusion, discontinuance without comparable replacement, diminution, or reduction in the same as in effect immediately prior to such exclusion, discontinuance, diminution, or reduction.
