Good Job
Must say I agree with Mr Thrust.
I am concerned, however, that this is the starting point of the negotiations. I would much prefer this to be the end point. I understand that you can't go with ridiculously high expectations, but this seems to me to be a fair remuneration deal given the lack of any real pay rises over many years.
Please don't flex too much negotiators - what you are proposing is fair and just!!