Common use of BENEFITS AND PENSION Clause in Contracts

BENEFITS AND PENSION. (12.01) The Employer shall pay 80% of the monthly premiums for basic life insurance and accidental death and dismemberment insurance effective April 1, 2003, during the life of this Agreement for full-time employees. Such employees are required to participate in the insurance plans. Coverage for each plan is equal to three times basic annual earnings to a maximum of $1,000,000. (12.02) The Globe and Mail Inc. Employees’ Retirement Plan providing a retirement program for employees now covered by this Agreement shall be continued by the Employer during the life of this Agreement. The Employer agrees to continue during the term of the Agreement payment of the Employer's matching contribution to the Canada Pension Plan without requiring reduction in The Globe and Mail Inc. Employees’ Retirement Plan. (12.03) The Employer will continue to pay, in the same manner as and in accordance with its past practice, the following monthly benefit premiums for employees who are in receipt of long term disability payments: Group Life Insurance Plan OHIP Extended Health Care Plan Vision Care Plan Hospitalization Plan Dental Plan Accident Insurance In addition, the Employer will pay, in the same manner as and in accordance with its past practice, the regular employee pension contributions on behalf of such employees. (12.04) Effective January 1, 2011, existing members of the defined benefit pension provisions will be given the option to 1) cease earning credited service under the defined benefit provisions and thereafter participate in the defined contribution provisions of the plan; or 2) continue earning credited service under the defined benefit provisions of the plan. No employee will join the defined benefit provisions of the plan on or after July 3, 2009. All new employees hired on or after July 3, 2009 will enroll in the defined contribution provisions of the plan, subject to the eligibility provisions of the plan. The following amendments/upgrades have been made to the Pension Plan. Base Year Upgrades: Effective January 1, 2008 – move to 2003 base year.

BENEFITS AND PENSION. (12.01) The Employer shall pay 80% of the monthly premiums for basic life insurance and accidental death and dismemberment insurance effective April 1, 2003, during the life of this Agreement for full-time employees. Such employees are required to participate in the insurance plans. Coverage Effective January 1, 2019, coverage for each plan basic life insurance and accidental death and dismemberment is equal to three two times basic annual earnings to a maximum of $1,000,000. The foregoing is a general description of the plan; the provisions of the insurance policy will govern. (12.02) The Globe and Mail Inc. Employees’ Retirement Plan providing a retirement program for employees now covered by this Agreement shall be continued by the Employer during the life of this Agreement. The Employer agrees to continue during the term of the Agreement payment of the Employer's matching contribution to the Canada Pension Plan without requiring reduction in The Globe and Mail Inc. Employees’ Retirement Plan. (12.03) The Employer will continue to pay, in the same manner as and in accordance with its past practice, the following monthly benefit premiums for employees who are in receipt of long term disability payments: Group Life Insurance Plan OHIP Extended Health Care Plan Vision Care Plan Hospitalization Plan Dental Plan Accident Insurance In addition, the Employer will pay, in the same manner as and in accordance with its past practice, the regular employee pension contributions on behalf of such employees. (12.04) Effective January 1, 2011, existing members of the defined benefit pension provisions will be given the option to 1) cease earning credited service under the defined benefit provisions and thereafter participate in the defined contribution provisions of the plan; or 2) continue earning credited service under the defined benefit provisions of the plan. No employee will join the defined benefit provisions of the plan on or after July 3, 2009. All new employees hired on or after July 3, 2009 will enroll in the defined contribution provisions of the plan, subject to the eligibility provisions of the plan. The following amendments/upgrades have been made to the Pension Plan. Base Year Upgrades: Effective January 1, 2008 – move to 2003 base year.