Common use of Reduction in Benefits Clause in Contracts

Reduction in Benefits. At any time, and from time to time, prior to a Change of Control, the Company shall be entitled to reduce the benefits provided to the Executive under this Subsection (c) provided that any such reduction must be made concurrently with an equal reduction to the fringe benefits granted to all executives holding the same office as the highest office held by the Executive during the Retention Period.

Appears in 6 contracts

Samples: Employment Retention Agreement (Arcadia Financial LTD), Employment Retention Agreement (Arcadia Financial LTD), Employment Retention Agreement (Arcadia Financial LTD)

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Reduction in Benefits. At any time, and from time to time, prior to a Change of Control, the Company shall be entitled to reduce the benefits provided to the Executive under this Subsection (c) provided that any such reduction must be made concurrently with an equal reduction to the fringe benefits granted to all executives holding the same office as the highest office held by the of Executive during the Retention PeriodVice President.

Appears in 1 contract

Samples: Employment Agreement (Arcadia Financial LTD)

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