Common use of Change Rates Clause in Contracts

Change Rates. For the duration of the Agreement, the Salary Schedule, as modified pursuant to the terms of the Cost-of-Living Adjustment (C.O.L.A.) provision, shall be increased by multiplying zero (0) percent times each step of the modified Salary Schedule. A Cost-of-Living Adjustment shall be paid at the conclusion of each school year, pursuant to the terms of the C.O.L.A. provision.