Experience Adjustments Clause Samples
The Experience Adjustments clause allows for modifications to contract terms based on the actual performance or outcomes observed during the contract period. Typically, this clause is used in insurance or service agreements where premiums, fees, or other terms may be recalculated if claims, losses, or usage differ from initial projections. By enabling adjustments in response to real-world results, the clause ensures that both parties share risks more equitably and that contract terms remain fair and reflective of actual experience.
Experience Adjustments. Each teacher who is eligible for an increment shall, on September 1 or February 1 immediately following the establishment of such eligibility, be placed on the next higher step of the basic salary schedule for the appropriate category of teacher education.