Voluntary Reduction(s) definition

Voluntary Reduction(s) means any of (i) a temporary and voluntary reduction in Base Salary by the Executive; including but not limited to the Executive’s consent to the same on April 23, 2020 in response to the Covid-19 pandemic; it being understood for purposes of clarity and the avoidance of doubt that the parties currently cannot anticipate when the “temporary” reductions or waiving of rights with respect to the Covid-19 pandemic will end, and that the intent of this provision is to capture Executive’s pre-Covid-19 compensation amounts for purposes of calculating severance hereunder.
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Voluntary Reduction(s) means any of (i) a temporary and voluntary reduction in Base Salary by the Executive; and (ii) any temporary waiving of the right to payment of Sales Commissions (currently denoted as “adjustments” in Executive’s Sales Commissions statements), including but not limited to the Executive’s consent to the same in response to the Covid-19 pandemic agreed with KLDiscovery on April 23, 2020 (it being understood for purposes of clarity and the avoidance of doubt that the parties currently cannot anticipate when the “temporary” reductions or waiving of rights with respect to the Covid-19 pandemic will end, and that the intent of this provision is to capture Executive’s pre-Covid-19 compensation amounts for purposes of calculating severance hereunder). .
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Voluntary Reduction(s) means any of (i) a temporary and voluntary reduction in Base Salary by the Executive; and (ii) any temporary waiving of the right to payment of Sales Commissions (currently denoted as “adjustments” in Executive’s Sales Commissions statements), including but not limited to the Executive’s consent to the same in response to the Covid-19 pandemic agreed with KLDiscovery on April 23, 2020 (it being understood for purposes of clarity and the avoidance of doubt that the parties currently cannot anticipate when the “temporary” reductions or waiving of rights with respect to the Covid-19 pandemic will end, and that the intent of this provision is to capture Executive’s pre-Covid-19 compensation amounts for purposes of calculating severance hereunder).
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Examples of Voluntary Reduction(s) in a sentence

  • The expiration or termination of this Agreement will not affect a Fund’s obligation to reimburse a Service Provider for Voluntary Reductions made during the Term of this Agreement, in accordance with the terms hereof.

  • The expiration or termination of this Agreement will not affect a Fund’s obligation to reimburse SSgA FM for Voluntary Reductions made during the term of this Agreement, in accordance with the terms hereof.

  • Voluntary Reductions of the Commitment...................................

  • Voluntary Reductions or Termination of ------------------------------------------------------------ the Facility E Commitment.

  • Voluntary Reductions of the Revolving Commitment ......................

  • Provisions Applicable to LIBOR Advances; Limitation on Base Rate Advances.............18 Section 2.8. Notes........................................19 Section 2.9. Voluntary Reductions of the Commitment.....

  • Voluntary Reductions of the Revolving Commitments 6072 Section 2.14.

  • It is acknowledged and accepted by all Parties to this Agreement that the Voluntary Reductions shall have no effect in determining the applicable payments set out in this Amendment and that Employee’s Base Salary shall be as set out in this Agreement or such other adjusted and permanent Base Salary approved by the Board of Directors of the Parent.

  • For the avoidance of doubt, the Sales Commission earned by the Executive shall not be diminished or reduced by any Voluntary Reduction(s).

  • Borrowers shall execute and deliver to (i) each Lender on the Closing Date, (ii) each Person who is a permitted assignee of such Lender pursuant to Section 13.1, upon its becoming such assignee and (iii) each Person who becomes a Lender in accordance with Section 2.1(f), at such time; in each case, to the extent requested by such Person, a Revolving Note to evidence such Person’s portion of the Revolving Loans.Termination and Voluntary Reductions of Revolving Commitments.