I don't view any distinction between PS and other fixed rates of compensation, other than the risk element. Management has a total cost figure in mind that they will draw the line at when costing our contract. We intuitively understand that and I refer to it as the pie. How we allocate the slices is to be determined by the negotiating committee and the MEC. PS is merely a slice of the pie.

My view on pay rates is grounded by what is possible. What is possible is grounded in what is responsible. Specifically, what is responsible management from the board's and shareholders perspective. That ultimately will determine the size of the pie. So I like to start with what is rational, but likely pushing the envelope. That sets my upper bound. My lower bound will be established by industry standard plus a dollar, which is pushing the envelope in the other direction. I expect something in between those bounds.