Common use of External Reference Community Clause in Contracts

External Reference Community. In order to establish a credible and acceptable benchmark for base salary compensation, the parties will select, by mutual agreement, suitable comparator companies from the Hay Group database (“salary database”) no later than January 31, 2004. To be acceptable participants in the salary database, a company must satisfy most of the following criteria: A majority of the companies included in the salary database must satisfy the “union density” criterion per above. If HayGroup is unable to obtain information on sufficient companies that meet this criterion, the parties, in conjunction with HayGroup, will agree upon proxy methodology to reasonably simulate the effect of this criterion. The parties reserve the right to revisit the composition of the salary database comparator participants 12 months following the implementation of the new salary policy line and in conjunction with the results of the first Hydro One commercial benchmarking study.