Common use of Guarantee Level Clause in Contracts

Guarantee Level. The level used to calculate (pursuant to (c) and (d) below) the League-wide Guarantee and the Minimum Team Salary (the “Guarantee Level”) for the Salary Cap Year commencing on January 1, 2014 shall be eight hundred and fifty-seven thousand dollars ($857,000). The Guarantee Level for each Salary Cap Year thereafter during the term of this Agreement shall be calculated as follows: add twelve thousand dollars ($12,000) to the Guarantee Level for the immediately preceding Salary Cap Year, increase the total by the Growth Factor applicable to the Salary Cap Year for which the Guarantee Level is being calculated (as defined in Section 1(e) below), and subtract twelve thousand dollars ($12,000).