Reductions in Payment Clause Samples
Reductions in Payment. Contractor agrees and acknowledges that the following may cause a reduction or other delay in payment to
Reductions in Payment. In the event that any payments or other benefits received or to be received by ▇▇▇▇▇▇ pursuant to this Agreement ("Payments") would (i) constitute a "parachute payment" within the meaning of Section 280G of the Internal Revenue Code of 1986, as amended (the "Code) and (ii) but for this Section 13, be subject to the excise tax imposed by Section 4999 of the Code (the "Excise Tax"), then, in accordance with this Section 13, such Payments shall be reduced to the maximum amount that would result in no portion of the payments being subject to the Excise Tax, but only if and to the extent that such a reduction would result in ▇▇▇▇▇▇'▇ receipt of Payments that are greater than the net amount that ▇▇▇▇▇▇ would receive hereunder (after application of the Excise Tax) if no reduction is made. The amount of required reduction, if any, shall be the smallest amount so that ▇▇▇▇▇▇'▇ net proceeds with respect to the Payments (after taking into account payment of any Excise Tax) shall be maximized, as determined by ▇▇▇▇▇▇. ▇▇▇▇▇▇'▇ determination of any required reduction pursuant to this Section 13(a) shall be conclusive and binding upon Asyst. Asyst shall reduce Payments in accordance with this Section 13(a) only upon written notice from ▇▇▇▇▇▇ indicating the amount of such reduction, if any. If the Internal Revenue Service (the "IRS") determines that a Payment is subject to the Excise Tax, then Section 13(b) shall apply.
Reductions in Payment. AECSD shall be entitled to a reduction in its monthly payments in the event that an assigned SRO and/or SPO is absent and the City cannot provide a trained substitute officer. The reduction shall be the per diem equivalent of the assigned SRO and/or SPO and shall be applied to the monthly payment following the absence(s) of the SRO(s).
Reductions in Payment. OCs must complete all duties and responsibilities assigned to receive the complete remuneration amount. Professional staff reserves the right to deduct payment for work not completed. Additionally, consistent tardiness to any NSO-related event will result in reduced compensation and possibly lead to termination. Please refer to the Disciplinary Procedures document for more information about action taken in regard to tardiness.