ANNUAL FORMULA-BASED COMPENSATION ADJUSTMENT Clause Samples

ANNUAL FORMULA-BASED COMPENSATION ADJUSTMENT. Subject to the Section ?, the maximum rates set forth in Attachment C, Residential Bin and Commercial Services shall be adjusted annually effective each July 1st as follows: (i) during the first three (3) years of the Term, by an amount equal to the calendar year annual twelve-moth change in the Consumer Price Index (“CPI”) for All Urban Consumers (CPI-U) for the Los Angeles/Anaheim/Riverside Metropolitan Area, (1982- 84=100), as published by the United States Department of Labor, Bureau of Labor Statistics CUURS49ASA0LE, and (ii) during the remainder of the Term by an amount equal to the calendar year twelve-month change in the Consumer Price Index (“CPI”) for All Urban Consumers (CPI-U) for the Riverside/San Bernardino/Ontario Area, (December 2017=100) CUURS49CSA0LE. Notwithstanding Section ?, Contractor acknowledges that various legal procedures, including but not limited to those contained in Proposition 218, may be applicable to any rate increases (and District agrees to undertake such procedures in the exercise of its sole discretion). In the event such rate increases do not receive the requisite approval under such procedures, the District shall not be required to adopt such rate increases, nor shall the District be liable to Contactor for the failure to implement any such increases.