REDUCTION OF BASE SALARY. Subject to Executive's continuous employment by Company from the date of this Agreement to February 28, 2005, commencing on February 28, 2005, and continuing until such time, if any, as the parties may agree to a different amount, Executive's annual base salary shall be reduced by 20% of the amount in effect on the date hereof (i.e., from Executive's current base salary of $450,000 to a reduced based salary of $360,000). Executive acknowledges that such reduction in annual base salary will also result in a reduction in certain compensation and other benefits provided by Company to Executive pursuant to the terms of Company's benefit plans and programs, including, without limitation, under the Bonus Program, the LTIP/RSU Program, and Executive's supplemental executive retirement plan.
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Samples: Compensation Reduction Agreement (Continental Airlines Inc /De/), Compensation Reduction Agreement (Continental Airlines Inc /De/), Compensation Reduction Agreement (Continental Airlines Inc /De/)
REDUCTION OF BASE SALARY. Subject to Executive's continuous employment by Company from the date of this Agreement to February 28, 2005, commencing on February 28, 2005, and continuing until such time, if any, as the parties may agree to a different amount, Executive's annual base salary shall be reduced by 2025% of the amount in effect on the date hereof (i.e., from Executive's current base salary of $450,000 950,000 to a reduced based salary of $360,000712,500). Executive acknowledges that such reduction in annual base salary will also result in a reduction in certain compensation and other benefits provided by Company to Executive pursuant to the terms of Company's benefit plans and programs, including, without limitation, under the Bonus Program, the LTIP/RSU Program, and Executive's supplemental executive retirement plan.
Appears in 1 contract
Samples: Compensation Reduction Agreement (Continental Airlines Inc /De/)
REDUCTION OF BASE SALARY. Subject to Executive's continuous employment by Company from the date of this Agreement to February 28, 2005, commencing on February 28, 2005, and continuing until such time, if any, as the parties may agree to a different amount, Executive's annual base salary shall be reduced by 20% of the amount in effect on the date hereof (i.e., from Executive's current base salary of $450,000 720,000 to a reduced based salary of $360,000576,000). Executive acknowledges that such reduction in annual base salary will also result in a reduction in certain compensation and other benefits provided by Company to Executive pursuant to the terms of Company's benefit plans and programs, including, without limitation, under the Bonus Program, the LTIP/RSU Program, and Executive's supplemental executive retirement plan.
Appears in 1 contract
Samples: Compensation Reduction Agreement (Continental Airlines Inc /De/)
REDUCTION OF BASE SALARY. Subject to Executive's continuous employment by Company from the date of this Agreement to February 28, 2005, commencing on February 28, 2005, and continuing until such time, if any, as the parties may agree to a different amount, Executive's annual base salary shall be reduced by 2017.5% of the amount in effect on the date hereof (i.e., from Executive's current base salary of $450,000 400,000 to a reduced based salary of $360,000330,000). Executive acknowledges that such reduction in annual base salary will also result in a reduction in certain compensation and other benefits provided by Company to Executive pursuant to the terms of Company's benefit plans and programs, including, without limitation, under the Bonus Program, the LTIP/RSU Program, and Executive's supplemental executive retirement plan.
Appears in 1 contract
Samples: Compensation Reduction Agreement (Continental Airlines Inc /De/)