Common use of Mandatory Payment of Good Wage Rate Clause in Contracts

Mandatory Payment of Good Wage Rate. Owner agrees to pay all employees of the Project a Good Wage Rate. A "Good Wage Rate" is: January 1, 2016 through December 30, 2016: $10.20 per hour. January 1, 2017 through December 30, 2017: $11.20 per hour. January 1, 2018 through December 30, 2018: $12.20 per hour. Commencing January 1, 2018, and for each January 1 of each successive year, the Good Wage Rate shall be increased in proportion to the increase during the preceding calendar year in the Consumer Price Index. However, if the state or federal minimum wage rises to the level of any of the Good Wage Rates set forth above, then the Good Wage Rate for the subject period shall automatically increase to an amount equal to two dollars ($2.00) above the highest of the two minimum wages.