Monetary Adjustments Clause Samples
The Monetary Adjustments clause establishes the procedures for modifying payment amounts under a contract in response to specific circumstances, such as changes in scope, costs, or market conditions. Typically, this clause outlines how parties can request adjustments, the documentation required to support such requests, and the process for agreeing on revised amounts. Its core function is to provide a fair and transparent mechanism for recalibrating financial obligations, thereby reducing disputes and ensuring that both parties are treated equitably when unforeseen changes affect the contract's value.
Monetary Adjustments. The Parties agree that any adjustments to the monetary consideration that Contractor is to provide Customer under this Agreement are reasonable estimates of the damages that Customer may suffer in light of the anticipated harm associated with the event related thereto and such adjustments to the monetary consideration that Contractor is to provide Customer do not constitute penalties.
Monetary Adjustments. The Parties agree to the following Monetary Adjustments: March 01, 2002 (retroactive) $0.25/hour increase to wages February 28, 2007 (retroactive) $0.30/hour increase to Health & Welfare Fund March 01, 2003 $0.55 per hour increase to wages March 01, 2004 $0.55 per hour increase to wages March 01, 2005 $0.50 per hour to be determined March 01, 2005 $0.05 per hour to Health & Welfare Fund • The Union shall advise the Companies no later than January 31st of each year of the decision of the membership relative to the monetary allocation. SCHEDULE OF EMPLOYER CONTRIBUTIONS (Year) 2002 2003 2004 *2005 Health & Welfare $2.10 $2.10 $2.10 $2.15 Pension $2.05 $2.05 $2.05 *$2.05 App. Trade & Promo Fund $0.135 $0.135 $0.135 $0.135 Tool Allowance $0.05 $0.05 $0.05 $0.05 Rehab Plan $0.02 $0.02 $0.02 $0.02 **Union Check-off $0.70 $0.70 $0.70 $0.70 *To be reviewed. ** Employee Deduction ADDENDUM # 2 BETWEEN (CA 70%) 01 - 06 months = $16.37/hour + $0.75/hour metro travel = $17.12 per hour (CA 75%) 07 - 12 months = $17.54/hour + $0.75/hour metro travel = $18.29 per hour (CA 80%) 13 - 18 months = $18.70/hour + $0.75/hour metro travel = $19.45 per hour (CA 85%) 19 - 24 months = $19.87/hour + $0.75/hour metro travel = $20.62 per hour (CA 90%) 25 - 30 months = $21.04/hour + $0.75/hour metro travel = $21.79 per hour (CA 95%) 31 - 36 months = $22.21/hour + $0.75/hour metro travel = $22.96 per hour (CM 112%) ▇▇▇▇▇▇▇ = $26.19/hour + $0.75/hour metro travel = $26.94 per hour (CM 116%) General ▇▇▇▇▇▇▇ = * $28.82/hour + $0.75/hour metro travel = $29.57 per hour (CA 70%) 01 - 06 months = $16.54/hour + $0.75/hour metro travel = $17.29 per hour (CA 75%) 07 - 12 months = $17.72/hour + $0.75/hour metro travel = $18.47 per hour (CA 80%) 13 - 18 months = $18.90/hour + $0.75/hour metro travel = $19.65 per hour (CA 85%) 19 - 24 months = $20.09/hour + $0.75/hour metro travel = $20.84 per hour (CA 90%) 25 - 30 months = $21.27/hour + $0.75/hour metro travel = $22.02 per hour (CA 95%) 31 - 36 months = $22.45/hour + $0.75/hour metro travel = $23.20 per hour (CM 112%) ▇▇▇▇▇▇▇ = $26.47/hour + $0.75/hour metro travel = $27.22 per hour (CM 116%) General ▇▇▇▇▇▇▇ = * $29.121/hour + $0.75/hour metro travel = $29.85 per hour (CA 70%) 01 - 06 months = $16.93/hour + $0.75/hour metro travel = $17.68 per hour (CA 75%) 07 - 12 months = $18.14/hour + $0.75/hour metro travel = $18.89 per hour (CA 80%) 13 - 18 months = $19.34/hour + $0.75/hour metro travel = $20.09 per hour (CA 85%) 19 - 24 months = $20.55/hour + ...
Monetary Adjustments. All monetary grievances that are mutually agreed upon shall be paid on the following pay period or as soon as reasonable, but in any case, not more than two pay periods from the date of resolution.