As meyers stated, no one, save the 3 NC members really know what is in the TA. That being said I can't see it having any reductions in current wages. People around here, specifically the mid seniority captains were not very pleased with the rates in our current contract. I would have a hard time voting yes to any DECREASE in pay. I think it would be more along the lines of flying bigger aircraft for current rates.
As crappy and concessionary as that sounds a real, true, enforceable flow with solid language would bring a new dynamic to the situation for sure.
On a separate note, The NC was pretty steadfast in their strategy that signing something slightly less than an industry leading contract would open us up for the opportunity to grow, and for us to have better career expectations. They took a lot of flak during the roadshows for that. If this thing actually works out it would prove them right all along. Good for them.