Common use of Example Two Clause in Contracts

Example Two. For COLA Payment Year 1, the agreement year is 1 September 2022 to 31 August 2023. The wage increase under the Agreement is 4% on 1 September 2022. In April 2023, the ABS releases the CPI figure for March 2023 as 7.5%. The COLA Payment is calculated as the difference between 4% and 7.5%, i.e. 3.5%. However, because the COLA Payment is capped at 3%, the COLA percentage is 3%.

Example Two. For COLA Payment Year 1, the agreement Agreement year is 1 September 2022 July 2023 to 31 August 202330 June 2024. The wage increase under Wage Increase Under the Agreement is 4% on 1 September 2022July 2023. In April 2023July 2024, the ABS releases the CPI figure for March 2023 the 12 months to June 2024 as 7.5%. The COLA Payment is calculated as the difference between 4% and 7.5%, i.e. 3.5%. However, because the COLA Payment is capped at 3%, the COLA percentage is 3%.. Step three

Example Two. For COLA Payment HWF EB2 Year 1, the agreement year is 1 September 2022 2023 to 31 August 20232024. The wage increase under the Agreement is 4% on 1 September 20222023. In April 20232024, the ABS releases the CPI figure for March 2023 2024 as 7.5%. The COLA Payment is calculated as the difference between 4% and 7.5%, i.e. 3.5%. However, because the COLA Payment is capped at 3%, the COLA percentage is 3%.

Example Two. For COLA Payment Year 1, the agreement year is 1 September April 2022 to 31 August March 2023. The wage increase under the Agreement is 4% on 1 September April 2022. In April 2023, the ABS releases the CPI figure for March 2023 as 7.5%. The COLA Payment is calculated as the difference between 4% and 7.5%, i.e. 3.5%. However, because the COLA Payment is capped at 3%, the COLA percentage is 3%.