- Third (3rd) Year Sample Clauses

- Third (3rd) Year. If during the third (3rd) year of this Agreement the Index increases by more than five per centum (5%) calculated on the basis of the difference between the Base Index figure for September 2005 and the Index figure for each month up to and including September 2006 THEN an additional one per centum (1%) increase in the Index over and above five per centum (5%) will provide a Cost of Living Allowance of ten cents (10¢) per hour for all hours actually worked FROM beginning of the first pay period following the first day of each such month TO the end of the pay period which includes the last day of each such month. The Cost of Living Allowance will be calculated using the above mentioned formula prorated on the basis of the Index increase over and above five per centum (5%) AND will be payable in May and November in the pay for the pay period during which the Index was released.
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- Third (3rd) Year. If, during the third (3rd) year of this Agreement the Index increases by more than five per centum (5%) calculated on the basis of the difference between the Base Index, figure for March 2000 and the Index figure for each month up to and including March 2001, THEN an additional one per centum (1%) increase in the Index over and above five per centum (5%) will provide a Cost of Living Allowance of ten cents (10¢) per hour for all hours actually worked and 0.25¢ per mile for all miles actually driven FROM the beginning of the first pay period following the first day of each such month TO the end of the pay period which includes the last day of each such month. The Cost of Living Allowance will be calculated using the above-mentioned formula prorated on the basis of the Index increase over and above five per centum (5%) AND will be payable monthly as a lump sum payment in the pay for the pay period during which the Index was released.
Sample 1

Related to - Third (3rd) Year

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