Reduction Agreement definition

Reduction Agreement means an agreement between the Participant and the Employer pursuant to which the Participant’s compensation is reduced or a compensation increase is foregone in an amount which the Employer is to contribute to the Participant Account.
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Reduction Agreement has the meaning given that term in Section 10.08(iii).
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Reduction Agreement means a Participant’s written election to reduce his or her Compensation (and have that amount contributed as Elective Deferrals to the Plan). Disclosures required by the Plan to be included in a Salary Reduction Agreement may be included in one or more documents that together are deemed to constitute such Salary Reduction Agreement. The Plan Administrator shall determine, on a uniform and nondiscriminatory basis, whether a Participant’s affirmative election to reduce his or her Compensation by 0% or $0 constitutes an effective Salary Reduction Agreement for purposes of Article 3.
Sample 1

Examples of Reduction Agreement in a sentence

  • The employer may enter into a Penalty Reduction Agreement (PRA) that can result in a 50% reduction in any assessed penalties.

  • II–PENALTY REDUCTION: In addition to the appeal rights afforded by the MIOSH Act, the Michigan Occupational Safety and Health Administration has implemented a program for negotiating an expedited settlement of penalties with the employers known as a Penalty Reduction Agreement (PRA).

  • The Salary Reduction Agreement may be terminated at any time by either the Employer or the Employee with respect to amounts not yet earned by the Employee.

  • This Salary Reduction Agreement (Agreement) is an agreement between me and my employer that I have entered into voluntarily.

  • The Election Form/Salary Reduction Agreement must be returned to the Plan Administrator on or before the last day of the Open Enrollment Period, and it shall become effective on the first day of the next Plan Year.

  • The Plan Administrator may provide more than one Salary Reduction Agreement form for use in specific situations.

  • For example, you can provide that eligible employees may make new salary reduction elections or modify prior elections for any calendar quarter during the 30 days before that quarter.You may use the Model Salary Reduction Agreement on page 3 to enable eligible employees to make or modify salary reduction elections.Employees must be permitted to terminate their salary reduction elections at any time.

  • A Salary Reduction Agreement must specify the dollar amount of Compensation or the percentage of Compensation the Participant wishes to defer.

  • The same goodness of God gives us the pleasures of the Spirit, when we deprive ourselves for Him of those of the body, and one can say that the less we spare ourselves, the more he spares us .

  • The Salary Reduction Agreement may establish an annual minimum deferral amount no higher than $200, and may change such minimum to a different amount (but not in excess of $200) from time to time.


More Definitions of Reduction Agreement

Reduction Agreement means the Incentive Distribution Rights Reduction Agreement in substantially the form of Exhibit B.
Sample 1

Related to Reduction Agreement

  • Termination Agreement has the meaning set forth in the Recitals.

  • Allocation Agreement or “Agreement” shall mean this NMTC Program Allocation Agreement between the Fund and the Allocatee and Subsidiary Allocatee, as the case may be, including the Organization Specific Terms and Conditions (Schedule 1) and the General Allocation Terms and Conditions (Schedule 2) and any attachments hereto, as such Agreement may, from time to time, be amended in accordance with its terms.

  • Master Separation Agreement has the meaning set forth in the recitals.

  • Transition Agreement has the meaning set forth in Section 12.8.1.

  • Formation Agreement has the meaning attributed to it in Recital A;

  • Novation Agreement means a legal instrument—

  • Connection Agreement means an agreement entered into between a distributor and a person connected to its distribution system that delineates the conditions of the connection and delivery of electricity to or from that connection;

  • Sponsor Letter Agreement has the meaning set forth in the recitals to this Agreement.

  • Construction Agreement as used in this subsection means an agreement between Seller and any contractor or subcontractor to install the System;

  • the First Variation Agreement means the agreement a copy of which is set forth in the Second Schedule;

  • Replacement Agreement means an agreement entered into as a replacement for any Relevant Agreement;

  • Loan Modification Agreement means a Loan Modification Agreement in form and substance reasonably satisfactory to the Administrative Agent and the Borrower, among the Borrower, the other Loan Parties, one or more Accepting Lenders and the Administrative Agent.

  • Payment Agreement means a written agreement which provides

  • Designation Agreement means a designation agreement in substantially the form of Exhibit G attached hereto, entered into by a Bank and a Designated Lender and accepted by the Administrative Agent.

  • SCM Agreement means the Agreement on Subsidies and Countervailing Measures in Annex 1A to the WTO Agreement;

  • Letter Agreement has the meaning set forth in the Recitals.

  • Substitution Agreement means the substitution agreement, substantially in the form set forth in the Schedules as entered into/ proposed to be entered into between the Authority, Developer, and the Lenders in relation to the substitution of the Developer with the Nominated Company in accordance with the Agreement;

  • Reimbursement Agreement as defined in Section 2.8(b).

  • Variation Agreement means the agreement a copy of which is set out in Schedule 2;

  • Extension Agreement shall have the meaning provided in Section 2.15(c).

  • Implementation Agreement means the Implementation Agreement dated ……… by and between the GOB, PGCB and the Company in connection with the Project, and also includes any amendment of it made from time to time;

  • Recognition Agreement With respect to any Cooperative Loan, an agreement between the Cooperative Corporation and the originator of such Mortgage Loan which establishes the rights of such originator in the Cooperative Property.

  • Combination Agreement shall have the meaning given in the Recitals hereto.

  • leasing agreement means an agreement by which one person (the lessor) grants a right to possession or control of an object (with or without an option to purchase) to another person (the lessee) in return for a rental or other payment;

  • Commitment Agreement means the written agreement that may be required at EDTI’s sole discretion between a Customer and EDTI whereby the Customer both authorizes the design and construction of new or expanded Facilities and agrees to pay all cancellation costs if the project is cancelled or if the Customer fails to sign an Electric Service Agreement prior to the energization of the new or expanded Facilities;

  • Diversion agreement means a mechanism designed to hold a child accountable for his or her behavior and, if appropriate, securing services to serve the best interest of the child and to provide redress for that behavior without court action and without the creation of a formal court record;