Service Adjustment Clause Samples

A Service Adjustment clause defines the terms under which the scope, quality, or quantity of services provided under an agreement can be modified. Typically, this clause outlines the process for requesting changes, such as requiring written notice or mutual agreement, and may specify how adjustments affect pricing or timelines. Its core function is to provide a structured mechanism for adapting the service arrangement to evolving needs or unforeseen circumstances, thereby ensuring flexibility and minimizing disputes.
Service Adjustment. If the Participant has fewer than ten (10) Years of Participation in the Plan, the Defined Benefit Dollar Limitation will be multiplied by a fraction, (A) the numerator of which is the number of Years of Participation (or part thereof, but not less than one year) in the Plan and (B) the denominator of which is ten (10). If the Plan is not a multi-Employer Plan and the Participant has fewer than ten (10) Years of Service or 1-year Periods of Service with the Employer, the Defined Benefit Compensation Limitation will be multiplied by a fraction, (A) the numerator of which is the number of Years of Service or 1-year Periods of Service (or part thereof, but not less than one year) with the Employer and (B) the denominator of which is ten (10).
View Source
Service Adjustment. Bargaining unit members who have previously received a service adjustment as bargained in the preceeding agreement shall continue to receive this adjustment.
View Source
Service Adjustment. The experience level applicable to each Contract Lecturer shall be reassessed at the beginning of each semester; the Contract Lecturer shall advance the value of a Service Adjustment (SA) for each two (2) semesters (excluding the Spring/Summer semester) of sessional appointment and/or for each three (3) semesters (excluding the Spring/Summer semester) of part-time appointments or a combination thereof. For greater clarity, with such combinations, this means that the Contract Lecturer shall advance the value of a Service Adjustment (SA) the semester after they have accumulated one seniority credit.
View Source
Service Adjustment. 10-years, $1,000; after 20-years, $1,000 (additional).
View Source
Service Adjustment. The experience level applicable to each Contract Lecturer shall be reassessed at the beginning of each semester; the Contract Lecturer shall advance the value of a Service Adjustment (SA) for each two (2) semesters (excluding the Spring/Summer semester) of sessional appointment and/or for each three (3) semesters (excluding the Spring/Summer semester) of part-time appointments. The value of each Service Adjustment (SA) shall be $2,500.00 for Contract Lecturers.
View Source
Service Adjustment. Unit members having ten years or more of administrative/ supervisory experience in the district as of June 30, 2003 shall receive a $1,000 increment adjustment each of the three years of this contract.
View Source

Related to Service Adjustment

  • FORCE ADJUSTMENT General 11.01 When any condition arises which reduces the work load to the extent that, in the Company's opinion, force adjustment is warranted, the following shall apply: (a) If the contemplated adjustment to the force would involve the lay-off of 50 or more Regular employees from the bargaining unit within a period of 30 days, or alternatively the spreading of the equivalent work by part-timing, the Company shall endeavour to reach agreement with the Union as to whether a plan of part-timing, lay-offs, or a combination of the two shall be put into effect. (b) If the contemplated adjustment to the work force is less extensive than that described in subsection 11.01 (a), the Company shall not resort to lay-off of Regular employees or part-timing of Regular Full-Time employees, except with the agreement of the Union. 11.02 In the event that an agreement as to a plan cannot be reached under subsection 11.01 (a) within a period of 30 calendar days after the matter has been submitted to the Union, the Company may proceed on a plan of lay-off to the extent it deems necessary. 11.03 It is expressly understood, however, that if the Company proceeds on a plan of lay-off at the expiration of the 30 day period or later as prescribed in this Article, negotiations toward an agreement relating to a force adjustment plan shall be resumed at any time at the request of either party. Similarly, after agreement has been reached as to a plan of force adjustment either party may resume negotiations at any time in an effort to obtain agreement upon modifications of the plan then in effect.

  • Performance Adjustment One-twelfth of the annual Performance Adjustment Rate will be applied to the average of the net assets of the Portfolio (computed in the manner set forth in the Fund's Declaration of Trust or other organizational document) determined as of the close of business on each business day throughout the month and the performance period.

  • Price Adjustment Civil works contracts of long duration (more than 18 months) shall contain an appropriate price adjustment clause.

  • Performance Adjustment Rate Except as otherwise provided in sub-paragraph (e) of this paragraph 3, the Performance Adjustment Rate is 0.02% for each percentage point (the performance of the Portfolio and the Index each being calculated to the nearest .01%) that the Portfolio's investment performance for the performance period was better or worse than the record of the Index as then constituted. The maximum performance adjustment rate is 0.20%. For purposes of calculating the performance adjustment of the portfolio, the portfolio's investment performance will be based on the performance of the retail class. The performance period will commence with the first day of the first full month following the retail class's commencement of operations. During the first eleven months of the performance period for the retail class, there will be no performance adjustment. Starting with the twelfth month of the performance period, the performance adjustment will take effect. Following the twelfth month a new month will be added to the performance period until the performance period equals 36 months. Thereafter the performance period will consist of the current month plus the previous 35 months. The Portfolio's investment performance will be measured by comparing (i) the opening net asset value of one share of the retail class of the Portfolio on the first business day of the performance period with (ii) the closing net asset value of one share of the retail class of the Portfolio as of the last business day of such period. In computing the investment performance of the retail class of the Portfolio and the investment record of the Index, distributions of realized capital gains, the value of capital gains taxes per share paid or payable on undistributed realized long-term capital gains accumulated to the end of such period and dividends paid out of investment income on the part of the Portfolio, and all cash distributions of the securities included in the Index, will be treated as reinvested in accordance with Rule 205-1 or any other applicable rules under the Investment Advisers Act of 1940, as the same from time to time may be amended.

  • Equitable Adjustment The Department may, in its sole discretion, make an equitable adjustment in the Term Contract terms or pricing if pricing or availability of supply is affected by extreme and unforeseen volatility in the marketplace, that is, by circumstances that satisfy all the following criteria: (1) the volatility is due to causes wholly beyond the Contractor’s control, (2) the volatility affects the marketplace or industry, not just the particular Term Contract source of supply, (3) the effect on pricing or availability of supply is substantial, and (4) the volatility so affects the Contractor that continued performance of the Term Contract would result in a substantial loss.