Common use of Reduction in Base Salary Clause in Contracts

Reduction in Base Salary. Executive's Base Annual Salary (as defined in his Employment Agreement and as in effect immediately prior to the consummation of the Change in Control) is reduced, unless such reduction is made (i) as part of an across-the-board cost cutting measure that is applied equally or proportionately to all senior executives of the Employer, or (ii) as a result of Executive’s Disability (determined as provided in Section 6(e) of the Employment Agreement), or any acts or omissions of Executive which would entitle Employer to terminate Executive’s employment for Cause (as defined in Section 6(a) of the Employment Agreement);

Appears in 7 contracts

Samples: Change of Control Severance Compensation Agreement (First Foundation Inc.), Change of Control Severance Compensation Agreement (First Foundation Inc.), Change of Control Severance Compensation Agreement (First Foundation Inc.)

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Reduction in Base Salary. Executive's Base Annual Salary (as defined in his Employment Agreement and as in effect immediately prior to the consummation of the Change in ControlAnnouncement) is reduced, unless such reduction is made (i) as part of an across-the-board cost cutting measure that is applied equally or proportionately to all senior executives of the Employer, or (ii) as a result of Executive’s Disability disability (determined as provided in Section 6(e) of the Employment Agreement), or any acts or omissions of Executive which would entitle Employer to terminate Executive’s employment for Cause (as defined in Section 6(a) of the Employment Agreement);Cause.

Appears in 4 contracts

Samples: Change in Control Severance Compensation Agreement (First Foundation Inc.), Change in Control Severance Compensation Agreement (First Foundation Inc.), Change in Control Severance Compensation Agreement (First Foundation Inc.)

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Reduction in Base Salary. Executive's ’s Base Annual Salary (as defined in his Employment Agreement and as in effect immediately prior to the consummation of the Change in Control) is reduced, unless such reduction is made (i) as part of an across-the-board cost cutting measure that is applied equally or proportionately to all senior executives of the Employer, or (ii) as a result of Executive’s Disability (determined as provided in Section 6(e) of the Employment Agreement), or any acts or omissions of Executive which would entitle Employer to terminate Executive’s employment for Cause (as defined in Section 6(a) of the Employment Agreement);

Appears in 4 contracts

Samples: Change of Control Severance Compensation Agreement (First Foundation Inc.), Change of Control Severance Compensation Agreement (First Foundation Inc.), Change of Control Severance Compensation Agreement (First Foundation Inc.)

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