Thursday, 08 April 2010 15:51

Agreement for Salary Reduction

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BY THIS AGREEMENT, made between _________________________("Employee")

and ___________________________(Company), the parties hereto agree

as follows:

Effective with respect to amounts earned on or after the ___________

day of ______________ 20 ___ (which date is subsequent to the

execution of this Agreement), the

Employee's monthly basic salary will be reduced by the amount

indicated below:

The amount of the salary reduction shall be:

The reason for the reduction in wages:

By signing this Agreement, the Employee understands and acknowledges


(Describe in detail)

This Agreement shall be legally binding and irrevocable as to

each of the parties hereto while employment continues.

It is understood that the amount of salary reduction described

above will be paid to:

Signed this _________________ day of __________________, 20 ___.

_________________________________ By _____________________________

(Employee) (Company)

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