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The value of the contract increases to $64.1 million if a two-year extension is exercised.
The contract increases Bowden's current compensation package, about $825,000, by 33percentt.
Annual contract increases will be 5.5 percent for "Bird" players and 3.5 percent for others.
The new contract increases the wages and benefits for union painters each year to $49 an hour in the fifth year, from $41 now.
Another provision of the new contract increases the maximum salary the city can pay teachers hired from other school districts to $61,000 from $43,370.
G.M. has said its new contract increases labor costs by just 1 percent annually, an amount that prompted Standard & Poor's to upgrade G.M.'s credit rating.
Similar(46)
The October contract increased $1.85, to $35.92 a barrel, on the New York Mercantile Exchange.
The contract increased the likelihood of quitting by over 30% over a control group.
Reducing the current makes the string cooler and causes it to contract, increasing tension and raising pitch.
ESPN won the right to carry more studio programming in its new N.F.L. contract, increasing the need for Jaworski.
It may have assumed that there would be a large contract increase when it estimated its earnings and decided to accelerate the retirement of aging aircraft.
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CEO of Professional Science Editing for Scientists @ prosciediting.com