Common use of COLA Clause in Contracts

COLA. Effective June 3, 1996 and thereafter during the period of this agreement, each employee shall receive a cost of living allowance as set forth in this section. COLA will be frozen for the life of this agreement (Employees will not “catch-up” in any way for any COLA forgone). The amount of cost of living adjustment (COLA) shall be determined in accordance with changes in the Consumer Price Index of the base 1986 = 100, hereinafter referred to as the 1986 Consumer Price Index or 1986 CPI. In determining the three (3) month average of the indexes for a specified period, the computed average shall be rounded to the nearest .1 index point - i.e. .05 and greater rounded upward and less than .05 rounded downwards. The COLA shall be computed using the three month average of the 1986 CPI for March 1993; April 1993 and May 1993 as the base period. Cost of Living Adjustments will be made on a quarterly basis at the following times: Effective Date of Adjustment Based Upon Three Month Average of the 1986 CPI Form First pay period beginning on June 1993, July 1993 or after October 1, 1993 and at three calendar month intervals thereafter August 1993 and at three calendar month intervals thereafter One cent ($0.01) adjustments in the cost of living shall become payable for each .0958 change in the Consumer Price Index. Effective January 1, 2000, the current .0958 will be changed to .0849. If at anytime the CPI indicates a drop in COLA, the adjustment will not be reduced. The adjustment, therefore, will not be increased until the CPI rises above where it was when the reduction would have been made. For purposes of this Collective Agreement, any paid COLA shall be treated as if it were incorporated into the base rate. In the event Statistics Canada ceases monthly publication of the Consumer Price Index, or changes the form of the basis of calculating the Index, the parties agree to ask Statistics Canada to make available, for the life of this agreement, a monthly index in its present form and calculated on the same basis as the Index for 1993.

COLA. Effective June 3, 1996 and thereafter during the period of this agreement, each employee shall receive a cost of living allowance as set forth in this section. COLA will be frozen for the life year of this agreement (Employees will not “catch-up” in any way for any COLA forgone). = or The amount of cost of living adjustment (COLA) shall be determined in accordance with changes in the Consumer Price Index of the base 1986 = 100, hereinafter referred to as the 1986 Consumer Price Index or 1986 CPI. In determining the three (3) month average of the indexes for a specified period, the computed average shall be rounded to the nearest .1 index point - i.e. .05 and greater rounded upward and less than .05 rounded downwards. The COLA shall be computed using the three month average of the 1986 CPI for March 1993; April 1993 and May 1993 as the base period. Cost of Living Adjustments will be made on a quarterly basis at the following timesfollowingtimes: Effective Date of Adjustment Based Upon Three Month Average of the 1986 CPI Form First pay period beginning on June 1993, July 1993 or after October 1, 1993 and at three calendar month August and at three calendar month intervals intervals thereafter August 1993 and at three calendar month intervals thereafter One cent ($0.01) adjustments in the cost of living shall become payable for each .0958 change in the Consumer Price Index. Effective January 1, 2000, the current .0958 will be changed to .0849. changedto If at anytime the CPI indicates a drop in COLA, the adjustment will not be reduced. The adjustment, therefore, will not be increased until the CPI rises above where it was when the reduction would have been made. For purposes of this Collective Agreement, any paid COLA shall be treated as if it were incorporated into incorporatedinto the base rate. In the event Statistics Canada ceases monthly publication of the Consumer Price Index, or changes the form of the basis of calculating the Index, the parties agree to ask Statistics Canada to make available, for the life of this agreement, a monthly index in its present form and calculated on the same basis as the Index for 1993.ARTICLE

COLA. Effective June 3, 1996 and thereafter during the period of this agreement, each employee shall receive a cost of living allowance as set forth in this section. COLA will be frozen for the life of this agreement (Employees will not “catch-up” in any way for any COLA forgone). The amount of cost of living adjustment (COLA) shall be 1851 1852 1853 1854 1855 1856 1857 1858 1859 1860 1861 1862 1863 1864 1865 1866 1867 1868 1869 1870 1871 1872 1873 1874 1875 1876 1877 1878 1879 1880 1881 1882 1883 1884 1885 1886 1887 determined in accordance with changes in the Consumer Price Index of the base 1986 = 100, hereinafter referred to as the 1986 Consumer Price price Index or 1986 CPI. In determining the three (3) month average of the indexes for a specified period, the computed average shall be rounded to the nearest .1 .l index point - point- i.e. .05 and greater rounded upward and less than .05 rounded downwards. The COLA shall be computed using the three month average of the 1986 CPI for March 1993; April April, 1993 and May May, 1993 as the base period. Cost of Living Adjustments will be made on a quarterly basis at the following times: Effective Date of Adjustment Based Upon Three Month Average of the 1986 CPI Form First pay period beginning on June 1993, July 1993 or after October 1, 1993 August 1993 and at and at three calendar month intervals thereafter August 1993 and at three calendar month intervals thereafter intervals thereafter One cent ($0.01) adjustments in the cost of living shall become payable for each .0958 change in the Consumer Price Index. Effective January 1, 2000, the current .0958 will be changed to .0849. If at anytime the CPI indicates a drop in COLA, the adjustment will not be reduced. The adjustment, therefore, will not be increased until the CPI rises above where it was when the reduction would have been made. For purposes of this Collective Agreement, any paid COLA shall be treated as if it were incorporated into the base rate. In the event Statistics Canada ceases monthly publication of the Consumer Price Index, or changes the form of the basis 1888 1889 1890 1891 1892 1893 1894 1895 1896 1897 1898 1899 1900 1901 1902 1903 1904 1905 1906 1907 1908 1909 1910 1911 1912 1913 1914 1915 1916 1917 1918 1919 1920 1921 1922 1923 1924 60 of calculating the Index, the parties agree to ask Statistics Canada to make available, for the life of this agreement, a monthly index in its present form and calculated on the same basis as the Index for 1993.

COLA. Effective June 3, 1996 and thereafter during the period of this agreement, each employee shall receive a cost of living allowance as set forth in this section. COLA will be frozen for the life of this agreement (Employees will not “catch-up” in any way for any COLA forgone). The amount of cost of living adjustment (COLA) shall be determined in accordance with accordancewith changes in the Consumer Price Index of the base 1986 = 100, hereinafter referred hereinafterreferred to as the 1986 Consumer Price Index or 1986 CPI. I986 th indexpoint- i.e. In determining the three (3) month average of the indexes for a specified period, the computed average shall be rounded to the nearest .1 index point - i.e. .05 e computedaverageshallbe roundedtothenearest and greater rounded upward and less than .05 roundedupwardandlessthan rounded downwards. The COLA shall be computed using the three month average of the 1986 CPI for March 1993; April 1993 and May 1993 as the base period. Cost of Living Adjustments will LivingAdjustmentswill be made on a quarterly basis quarterlybasis at the following timesfollowingtimes: Effective Date of Adjustment Based Upon Three Month Average of the 1986 CPI Form First pay period beginning on June 1993, July 1993 or after October 1, 1993 and at three calendar month intervals thereafter calendarmonth June July August 1993 and at three calendar month calendarmonth intervals intervalsthereafter thereafter One cent ($0.01) adjustments in the cost of living shall become payable for each .0958 change in the Consumer Price Index. Effective January 1, 2000, EffectiveJanuary the current .0958 will be changed to .0849. If at anytime the CPI indicates a drop in COLA, the adjustment will not be reduced. , The adjustment, therefore, will not be increased until increaseduntil the CPI rises above where it was when the reduction would have been made. For purposes of this Collective Agreement, any paid COLA shall be treated as if it were incorporated into incorporatedinto the base rate. In the event Statistics Canada ceases monthly publication of the Consumer Price ConsumerPrice Index, or changes the changesthe form of the basis of calculating the Index, the parties agree to agreeto ask Statistics Canada to StatisticsCanadato make available, for the life of this agreement, a monthly index in its present form and calculated on the same basis samebasis as the Index for 1993.ARTICLE