escalator clause

noun

es·​ca·​la·​tor clause

ˈes-kə-ˌlā-tər-

1

: a clause in a contract that provides for an increase in the amount of the payments made under the contract to reflect an increase in costs or the raising of a government-imposed cap on costs

2

: a clause in an employment contract that provides for an increase in wages to reflect a rise in the cost of living but prohibits a decrease to reflect a drop in the cost of living