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Noun: escalator clause  'e-sku,ley-tu(r) kloz
  1. A clause in a contract that provides for an increase or a decrease in wages or prices or benefits etc. depending on certain conditions (as a change in the cost of living index)
    "The union negotiated an escalator clause tied to inflation in their new contract";
    - escalator

Derived forms: escalator clauses

Type of: article, clause

Encyclopedia: Escalator clause