Common use of Increases in the Minimum Clause in Contracts

Increases in the Minimum. a) Effective July 1, 2014, the formula for calculating the minimums for jobs with less than 314 points is: Evaluation points x $77.04 + $26,203. b) The formula for calculating the minimums for jobs with 314 points or more is: Evaluation points x $78.53 + $26,712. c) Effective July 1, 2015, the formula for calculating the minimums for jobs with less than 314 points is: Evaluation points x $77.81 + $26,465. d) The formula for calculating the minimums for jobs with 314 points or more is: Evaluation points x $79.32 + $26,979. e) Effective July 1, 2016 after adjustments are made as described in Article 25.22 a), the minimums and maximums will increase as indicated below: i) For jobs with less than 314 points the adjustment will be 1.25%. The formula for calculating the minimums is to be: Evaluation points x $78.78 + $26,796. ii) For jobs with 314 points or more the adjustment will be 1.25%. The formula for calculating the minimums is to be: Evaluation points x $80.31+ $27,316. f) Effective July 1, 2017 after adjustments are made as described in Article 25.23 a), the minimums and maximums will increase as indicated below: i) For jobs with less than 314 points the adjustment will be 1.25%. The formula for calculating the minimums is to be: Evaluation points x $79.77 + $27,131. ii) For jobs with 314 points or more the adjustment will be 1.25%. The formula for calculating the minimums is to be: Evaluation points x $81.31 + $27,658.