Percentage Increases Clause Samples
The Percentage Increases clause establishes how and when certain amounts, such as fees, prices, or payments, may be adjusted by a specified percentage over time. Typically, this clause outlines the frequency of increases (for example, annually) and the exact percentage or formula used to calculate the new amount, ensuring both parties are aware of potential changes to financial obligations. Its core function is to provide a clear, predictable mechanism for adjusting costs in response to factors like inflation or market changes, thereby reducing disputes and ensuring transparency in ongoing agreements.
Percentage Increases a. Effective July 1, 2018, 1.75% increase is included in the salary schedules as shown in Appendix A.
b. Effective July 1, 2019, 1.25% increase is included in the salary schedules as shown in Appendix A.
c. Effective July 1, 2020, there will be a 0% increase included in the salary schedules as shown in Appendix A. The agreed to salary schedule, as shown in Appendix A, shall apply for the duration of this contract except that the employer and local bargaining group agree to meet for the purpose of a wage only reopener for on or off-schedule compensation, for the 2021-2022 contract year, if for that year, General Fund state aid Section 81 and local property tax levies are projected to increase, in total, by 3% or more over the previous year. The parties agree to meet no later than December 2021 to determine next steps. State Aid Section 81 means funds appropriated by the state through the state school aid act for activities and purposes included in that section of the Act as of the date of the signing of this agreement. Local property tax levy means those allocated property taxes levied for operating purpose on the employers 2021 l-4029 report.
Percentage Increases. The Basic Monthly Rent (as adjusted pursuant to Section 3.2.1 above) shall be increased on the first day of each Lease Year (as defined below) after the first Lease Year and on the first day of the next six (6) Lease Years (“Adjustment Date”) by 3.5% of the previous year’s Basic Monthly Rent. Commencing at the commencement of the seventh Lease Year and upon the first day of each Lease Year thereafter the Basic Monthly Rent shall be increased 5% over the Basic Monthly Rent for the previous Lease Year. When Basic Monthly Rent commences for the Phase II Premises it shall be calculated as if it had commenced on the same date as the Commencement Date for the Phase I Premises. Lease Year is defined to mean the first day of the first month following the twelve (12) month anniversary date (“Anniversary Date”) of the Commencement Date applicable to Phase I. An example of the calculation of Basic Monthly Rent after the Commencement Date of each phase follows: Rentable Area 10,873 sq. ft. 10,873 sq. ft. Commencement Date February 1, 1994 January 1, 1996 Landlord TI Cost $ 60.00 $ 65.00 On the Commencement Date for the Phase I Premises, Basic Monthly Rent for the Phase I Premises would be adjusted to account for the Landlord’s share of Tenant Improvement Costs of $60.00. Thus, the Basic Monthly Rent of $1.90 per square foot of Rentable Area would be reduced to $1.80 per square foot of Rentable Area for a total Basic Monthly Rent of $19,571.40 per month from the Commencement Date of February 1, 1994 to the Anniversary Date of February 1, 1995. On February 1, 1995 the Basic Monthly Rent would be increased 3.5% to $20,256.40. On February 1, 1996 (the Anniversary Date of the Third Lease Year) the Basic Monthly Rent would be increased by 3.5% to $20,965.37. On the Commencement Date for the Phase II Premises the Basic Monthly Rent would be adjusted to account for the Landlord’s share of Tenant Improvement Costs for Phase II of $65.00. Thus, the Basic Monthly Rent of $1.90 per square foot of Rentable Area would be reduced to $1.85 per square foot of Rentable Area for a total of $20,115.04 per month. Although rent for the Phase II Premises would not be due until the Commencement Date for the Phase II Premises, which will be the earlier of substantial completion of the Tenant Improvements for the Phase II Premises or January 1, 1996, the calculation of the adjustment to Basic Monthly Rent would be made from February 1, 1994 (the Commencement Date of the Phase I Premises). Thus...
Percentage Increases. (a) Effective September 1, 2011, each continuing full-time member of the bargaining unit shall receive a wage increase in his/her base salary of two and one-half (2.5%) percent over his/her base salary in the preceding academic year.
(b) Effective September 1, 2012, each continuing full-time member of the bargaining unit shall receive a wage increase in his/her base salary of two and one-half (2.5%) percent over his/her base salary in the preceding academic year.
(c) Effective September 1, 2013, each continuing full-time member of the bargaining unit shall receive a wage increase in his/her base salary of three and one-quarter (3.25%) percent over his/her base salary in the preceding academic year.
(d) Effective September 1, 2014, each continuing full-time member of the bargaining unit shall receive a wage increase in his/her base salary of three (3%) percent over his/her base salary in the preceding academic year.
(e) Effective September 1, 2015, each continuing full-time member of the bargaining unit shall receive a wage increase in his/her base salary of three (3%) percent over his/her base salary in the preceding academic year. In no event, however, shall the percentage wage increase under this Article 8.1 result in a salary less than the minimum salary specified in Article 8.4.
Percentage Increases a. The agreed to salary schedule, as shown in Appendix A, shall apply for the duration of this contract except as modified by other provisions herein.
b. The Employer and the Union agree to enter into a wage reopener discussion beginning no earlier than May 1, 2012 for the purpose of determining whether the agency’s finances will permit a salary increase for the final year of this contract.
Percentage Increases a. Effective July 1, 2022, 1.0% increase is included in the salary schedules as shown in Appendix A.
b. Effective July 1, 2023, 1.0% increase is included in the salary schedules as shown in Appendix A.
c. Effective July 1, 2024, there will be a 0% increase included in the salary schedules as shown in Appendix A.
Percentage Increases for this contract will be 5%, 5%, and 4% on the previous year’s base.
Percentage Increases.
(a) Effective September 1, 2016, each continuing full-time member of the bargaining unit shall receive a wage increase in his/her base salary of two and one-half (2.5%) percent over his/her base salary in the preceding academic year.
(b) Effective September 1, 2017, each continuing full-time member of the bargaining unit shall receive a wage increase in his/her base salary of two and one-half (2.5%) percent over his/her base salary in the preceding academic year.
Percentage Increases a. Effective July 1, 2018, 1.75% increase is included in the salary schedules as shown in Appendix A.
b. Effective July 1, 2019, 1.25% increase is included in the salary schedules as shown in Appendix A. The agreed to salary schedule, as shown in Appendix A, shall apply for the duration of this contract except that the employer and local bargaining group agree to meet for the purpose of a wage only reopener for on or off-schedule compensation, for the 2020-2021 contract year, if for that year, General Fund state aid Section 81 and local property tax levies are projected to increase, in total, by 3% or more over the previous year. State Aid Section 81 means funds appropriated by the state through the state school aid act for activities and purposes included in that section of the Act as of the date of the signing of this agreement. Local property tax levy means those allocated property taxes levied for operating purpose on the employers 2020 l-4029 report.
Percentage Increases a. Effective July 1, 2025, 5.0% increase is included in the salary schedules as shown in Appendix A.
b. Effective July 1, 2026, 0.0% increase is included in the salary schedules as shown in Appendix A.
c. Effective July 1, 2027, there will be a 0.0% increase included in the salary schedules as shown in Appendix A. If the State of Michigan School Aid Fund budget for Section 81 - Intermediate School Districts is increased for fiscal year 2026-2027, then the percentage of increase in funding compared to fiscal year 2025-26 will be calculated. The lesser of 3% or the percentage of increase in Section 81 funding will be added to the salary schedule effective July 1, 2027.
d. If the State of Michigan School Aid Fund budget for Section 81 - Intermediate School Districts is increased for fiscal year 2027-2028, then the percentage of increase in funding compared to fiscal year 2026-2027 will be calculated. The lesser of 3% or the percentage of increase in Section 81 funding will be added to the salary schedule on June 30, 2028. The June 30, 2028 salary schedule will be used to calculate salaries upon expiration of this contract until a successor agreement is reached.
Percentage Increases. (a) Effective September 1, 2021, each continuing full-time member of the bargaining unit shall receive a wage increase in their base salary of three (3%) percent over their base salary in the preceding academic year.
(b) Effective September 1, 2022 each continuing full-time member of the bargaining unit shall receive a wage increase in their base salary of three (3%) percent over their base salary in the preceding academic year.
(c) Effective September 1, 2023 each continuing full-time member of the bargaining unit shall receive a wage increase in their base salary of two and one-half (2.5%) percent over their base salary in the preceding academic year.
(d) Effective September 1, 2024 each continuing full-time member of the bargaining unit shall receive a wage increase in their base salary of two and one-half (2.5%) percent over their base salary in the preceding academic year.
(e) Effective September 1, 2025 each continuing full-time member of the bargaining unit shall receive a wage increase in their base salary of two and one-half (2.5%) percent over their base salary in the preceding academic year. In no event, however, shall the percentage wage increase under this Article 8.1 result in a salary less than the minimum salary specified in Article 8.4.