New version of the contract published on Reddit:
https://www.reddit.com/r/flying/comm...ised_from_the/
Summary:
Inventive payments revised to $100K payable as follows:
$25,000 paid upon completion of First Officer training and IOE
$50,000 paid upon completion of Captain upgrade training and IOE
$25,000 paid upon completion of 12 months as Captain in active status
Clawbacks:
If pilot leaves before 2 full years as Captain or 5 full years as pilot, they can request payback of incentives up to what you had been paid at time of seperation.
Separation from the company is now more narrowly defined as "resigns their employment or is terminated by Republic in accordance with the CBA" rather than the prior contract that broadly defined it as basically any reason at all. This basically means if you voluntarily leave, or the union can't save your job, then you'll owe back what they paid you.
Liquidated damages:
The contract is predicated on a pilot serving a full 2 years as Captain, no matter how long it takes to get to Captain. If you don't make Captain (or get there later), they expect you to fly for 5 years in total. The damages are broken down as follows:
if the Pilot Candidate separates from
employment with Republic (i.e., resigns their employment or is terminated by
Republic in accordance with the CBA) prior to completing at least two (2) years in
active status as a Captain for Republic, or, in the alternative, at least five (5) years in
active status as a pilot for Republic, then the Pilot Candidate agrees to pay liquidated
damages in accordance with the following scale:
1. Separation before completing four (4) years in active status and has not upgraded to Captain at Republic = $100,000
2. Separation after completing four (4) years but less than five (5) years in active status and has not upgraded to Captain at Republic = $75,000
3. Separation before completing five (5) years in active status and has been a Captain at Republic for less than one (1) year = $75,000
4. Separation after completing one (1) year but less than eighteen (18) months in active status as a Captain and has been a pilot at Republic for less than five (5)years in active status = $50,000
5. Separation after completing eighteen (18) months but less than two (2) years inactive status as a Captain and has been a pilot at Republic for less than five (5)years in active status = $25.000
6. Separation on or after five (5) years in active status or after completing two (2) years in active status as a Captain at Republic = $0
So, bottom line...get hired as FO and pass training and IOE, you get $25K. Get to CA as soon as you can and collect another $50K, followed by $25K 12 months later. You're a free agent after 24 months as CA.
Better but not really so great. Incentives are definitely there to get to Captain and even just complete FO training and IOE ($25K). If you are unable to fly for medical reasons, you won't be penalized since you'll be inactive, but your 2 year CA clock is based on active status. If you are fully disabled to not be able to ever fly again, then you're not subject to the penalties.
I am wondering if the union had any input on this or RPA was just responding to the immediate PR firestorm that came a month ago when they released the first draft.