Common use of 2013 and 2014 Clause in Contracts

2013 and 2014. (a) The wage adjustment to be effective in May of each year shall be calculated in January of that year, and the wage adjustment to be effective in November of each year shall be calculated in July of that year. (b) The wage adjustment for May shall be: (i) If Oil Price is less than $60, zero. (ii) If Oil Price is $60 or greater, but less than $90, one half of CPI Change multiplied by Group 4 Average Wage. (iii) If Oil Price is $90 or greater, but less than $110, one half of the total of CPI Change and 0.5%, multiplied by Group 4 Average Wage. (iv) If Oil Price is $110 or greater, but less than $125, one half of the total of CPI Change and 1.0%, multiplied by Group 4 Average Wage. (v) If Oil Price is $125 or greater, one half of the total of CPI Change and 1.5%, multiplied by Group 4 Average Wage. (c) The wage adjustment for November shall be: (i) If Oil Price is less than $60, zero. (ii) If Oil Price is $60 or greater, but less than $90, one half of CPI Change multiplied by the journeyperson gross wage rate stipulated in the Collective Agreement effective April 1st of the year of the adjustment. (iii) If Oil Price is $90 or greater, but less than $110, one half of the total of CPI Change and 0.5%, multiplied by the journeyperson gross wage rate stipulated in the Collective Agreement effective April 1st of the year of the adjustment. (iv) If Oil Price is $110 or greater, but less than $125, one half of the total of CPI Change and 1.0%, multiplied by the journeyperson gross wage rate stipulated in the Collective Agreement effective April 1st of the year of the adjustment. (v) If Oil Price is $125 or greater, one half of the total of CPI Change and 1.5%, multiplied by the journeyperson gross wage rate stipulated in the Collective Agreement effective April 1st of the year of the adjustment. (d) In no case shall the total of the May and November wage adjustments in each year exceed 5%.

2013 and 2014. (a) The wage adjustment to be effective in May of each year shall be calculated in January of that year, and the wage adjustment to be effective in November of each year shall be calculated in July of that year. (b) The wage adjustment for May shall be: (i) If Oil Price is less than $60, zero. (ii) If Oil Price is $60 or greater, but less than $90, one half of CPI Change multiplied by Group 4 Average Wage. (iii) If Oil Price is $90 or greater, but less than $110, one half of the total of CPI Change and 0.5%, multiplied by Group 4 Average Wage. (iv) If Oil Price is $110 or greater, but less than $125, one half of the total of CPI Change and 1.0%, multiplied by Group 4 Average Wage. (v) If Oil Price is $125 or greater, one half of the total of CPI Change and 1.5%, multiplied by Group 4 Average Wage. (c) The wage adjustment for November shall be: (i) If Oil Price is less than $60, zero. (ii) If Oil Price is $60 or greater, but less than $90, one half of CPI Change multiplied by the journeyperson Journeyman gross wage rate stipulated in the Collective Agreement effective April 1st of the year of the adjustment. (iii) If Oil Price is $90 or greater, but less than $110, one half of the total of CPI Change and 0.5%, multiplied by the journeyperson Journeyman gross wage rate stipulated in the Collective Agreement effective April 1st of the year of the adjustment. (iv) If Oil Price is $110 or greater, but less than $125, one half of the total of CPI Change and 1.0%, multiplied by the journeyperson Journeyman gross wage rate stipulated in the Collective Agreement effective April 1st of the year of the adjustment. (v) If Oil Price is $125 or greater, one half of the total of CPI Change and 1.5%, multiplied by the journeyperson Journeyman gross wage rate stipulated in the Collective Agreement effective April 1st of the year of the adjustment. (d) In no case shall the total of the May and November wage adjustments in each year exceed 5%.