Common use of SALARY SACRIFICE ARRANGEMENTS Clause in Contracts

SALARY SACRIFICE ARRANGEMENTS. The Employer operates a salary sacrifice arrangement. Under this arrangement some or all of the Executive’s pension contributions payable to the Scheme from time to time (which may at the Employer’s discretion include both regular or mandatory contributions or voluntary contributions) will be paid on the Executive’s behalf by the Employer in return for a reduction in the Executive’s salary (although it does not affect the Executive’s other pay related benefits or calculations). By signing and/or entering into this contract the Executive has agreed to this reduction. The Executive is therefore automatically a member of the salary sacrifice arrangement unless the Executive is automatically opted out under the terms of the salary sacrifice arrangement, chooses to opt out as permitted under the terms of the arrangement, or is in receipt of a non-pensionable cash supplement in lieu of all or part of the contributions to be paid to the Scheme. The Employer reserves the right to amend or withdraw the salary sacrifice arrangement. For any period in which the Executive is not a member of the salary sacrifice arrangement, the Executive’s pension contributions to the Scheme will be deducted from the Executive’s salary and paid to the Scheme by the Employer.

SALARY SACRIFICE ARRANGEMENTS. The Employer operates a salary sacrifice arrangement. Under this arrangement some or all of the Executive’s pension contributions payable to the Scheme from time to time (which may at the Employer’s discretion include both regular or mandatory contributions or voluntary contributions) will be paid on the Executive’s behalf by the Employer in return for a reduction in the Executive’s salary (although it does not affect the Executive’s other pay pay-related benefits or calculations). By signing and/or entering into this contract Agreement the Executive has agreed to this reduction. The Executive is therefore automatically a member of the salary sacrifice arrangement unless the Executive is automatically opted out under the terms of the salary sacrifice arrangement, chooses to opt out as permitted under the terms of the arrangement, or is in receipt of a non-pensionable cash supplement in lieu of all or part of the contributions to be paid to the Scheme. The Employer reserves the right to amend or withdraw the salary sacrifice arrangement. For any period in which the Executive is not a member of the salary sacrifice arrangement, the Executive’s pension contributions to the Scheme will be deducted from the Executive’s salary and paid to the Scheme by the Employer.