Reduction of Compensation

Reduction of Compensation. A "Reduction of Compensation" shall have occurred if either or both of the following occur at any time after a Change of Control: (a) Executive's Base Salary is reduced or (b) either (i) the SEMICP, and/or Executive's level of participation in the SEMICP, is altered for any year in such a way as to reduce Executive's opportunity to earn incentive compensation under the SEMICP for that year below the level of that opportunity as it existed immediately before the Change of Control, or (ii)... the amount of incentive compensation paid to Executive for any period after the Change of Control is below Executive's Target Annual Incentive Compensation. View More