Artical 3 of the IAM mechanics and related states the following...
Upon a change in control defined as the sale of all or substantially all of the assets
or common stock of the Company or US Airways Group in a single transaction (or in
multi-step related transactions) to a single purchaser (or a group of purchasers acting in
concert), the hourly rates of pay under this agreement shall be increased to the rates
which would have been effective following the Pay Parity Adjustment in October 2003
under the Pay Parity Letter of Agreement. In addition to such hourly rates of pay, the
IAM will have the right to extend the duration of the IAM Restructuring Agreement for
one, two or three years at the IAM’s option, past the amendable date of the IAM
Restructuring Agreement, with across the board wage increases of four and one half
percent (4.5%) on the amendable date and on each of the three (3) annual anniversaries of
the amendable date thereafter (i.e. 12/31/08, 12/31/09 and 12/31/10). For the purposes of
this paragraph, “Common Stock†is the Common Stock of US Airways Group then
outstanding and the Common Stock issuable on exchange, exercise, and/or conversion of
securities of the Company or US Airways Group which are then currently exchangeable
into, exercisable for, or convertible into such Common stock
Change in control and pay snaps back to PPA oct 2003??
700uw said..
A grievance has been filed by the IAM and is waiting to be heard. AFA is going to or has filed and the CWA has filed also.
The company is claiming that AWA is a subsidary of US Airways Group Inc.
any truth??
Has the IAM realized who is running stuff?
I'll vote IAM if they get me the 2003 parity pay...
Keep dreamin.
Upon a change in control defined as the sale of all or substantially all of the assets
or common stock of the Company or US Airways Group in a single transaction (or in
multi-step related transactions) to a single purchaser (or a group of purchasers acting in
concert), the hourly rates of pay under this agreement shall be increased to the rates
which would have been effective following the Pay Parity Adjustment in October 2003
under the Pay Parity Letter of Agreement. In addition to such hourly rates of pay, the
IAM will have the right to extend the duration of the IAM Restructuring Agreement for
one, two or three years at the IAM’s option, past the amendable date of the IAM
Restructuring Agreement, with across the board wage increases of four and one half
percent (4.5%) on the amendable date and on each of the three (3) annual anniversaries of
the amendable date thereafter (i.e. 12/31/08, 12/31/09 and 12/31/10). For the purposes of
this paragraph, “Common Stock†is the Common Stock of US Airways Group then
outstanding and the Common Stock issuable on exchange, exercise, and/or conversion of
securities of the Company or US Airways Group which are then currently exchangeable
into, exercisable for, or convertible into such Common stock
Change in control and pay snaps back to PPA oct 2003??
700uw said..
A grievance has been filed by the IAM and is waiting to be heard. AFA is going to or has filed and the CWA has filed also.
The company is claiming that AWA is a subsidary of US Airways Group Inc.
any truth??
Has the IAM realized who is running stuff?
I'll vote IAM if they get me the 2003 parity pay...
Keep dreamin.