Market Factor Sample Clauses
The Market Factor clause defines how changes in market conditions, such as fluctuations in prices, interest rates, or other economic variables, impact the obligations or pricing under a contract. Typically, this clause outlines specific triggers or thresholds for market changes and describes the adjustments that will be made to contract terms, such as price revisions or renegotiation rights, if those triggers are met. Its core practical function is to allocate the risk of market volatility between the parties, ensuring that neither side is unfairly disadvantaged by unforeseen economic shifts during the contract term.
Market Factor. Certain job titles (as reflected on the salary schedule) are subject to a market factor pay differential. These market factors are subject to review at the discretion of the District not more than once per year. When reviewed, the employer will provide a copy of the results to the union. If analysis dictates any market factor is no longer appropriate, the employer will provide the union and affected employees with notice of desire to adjust as well as supporting documentation. Statutory mid-term bargaining procedures shall apply if the OSEA requires bargaining.
Market Factor. If the District is required to hire an employee with specialized skills to meet its legal obligation to educate a student, the District may increase that position’s pay by a Market Factor of Adjustment of up to ten percent (10%).
Market Factor. This will confirm the parties’ agreement to provide employees in the classifications noted below a non-pensionable market factor of one dollar and sixty-five cents ($1.65) per hour effective January 1, 2014. This market factor will not be considered part of the employee’s salary for any purposes, except when determining which step the employee shall be placed on upon implementation of the Government Job Evaluation System (JES). The market factor will cease to be paid on April 14, 2015. Sincerely, ▇▇▇▇▇▇▇ ▇▇▇ Chief Negotiator October 4, 2018 Mr. ▇▇▇▇▇ Farewell Representative Canadian Union of Public Employees P.O. Box 8745 Stn. ‘A’ St. John’s, NL A1B 3T2 Dear Mr. Farewell:
Market Factor. The Market Factor shall mean the following: (A) if the Market Price is less than or equal to $3.33-1/3 as of the Adjustment Date, the Market Factor shall equal $3.33-1/3; (B) if the Market Price is greater than $3.33-1/3 but less than $8.00 as of the Adjustment Date, the Market Factor shall equal the Market Price; and (C) if the Market Price is greater than or equal to $8.00 as of the Adjustment Date, the Market Factor shall equal $8.00; provided, however, that notwithstanding clauses (A), (B) and (C) of this Section 3(ii), if the Market Price (which, as defined below, is an average of the Closing Prices over a period of 15 consecutive trading days) equals $8.00 or more at any time prior to the Adjustment Date, the Market Factor shall equal $8.00.
Market Factor. This will confirm the parties‟ agreement to provide employees in the classifications noted below a non-pensionable market factor one dollar and sixty-five cents ($1.65) per hour effective January 1, 2014. This market factor will not be considered part of the employee‟s salary for any purposes, except when determining which step the employee shall be placed on upon implementation of the Job Evaluation System (JES). The market factor will cease to be paid on April 14, 2015. Sincerely, ▇▇▇▇▇ ▇▇▇▇▇▇▇ Chief Negotiator