Common use of Participation in the UPP Clause in Contracts

Participation in the UPP. (a) Effective January 1, 2020, or, if later, the effective date of the UPP, employees who are active members of the Plan shall become members of the UPP (“Contingent UPP Members”), provided that they shall not accrue any service under the UPP until the later of the date that the Superintendent of Financial Services (or his or her successor) approves a transfer of the assets from the Plan to the UPP and July 1, 2021 (or such other date as the transfer may be approved or the parties may agree) (the “UG Conversion Date”). (b) Employees who become members of the Plan on or after January 1, 2020 but before the UG Conversion Date, will be enrolled in the UPP according to the UPP eligibility provisions as Contingent UPP Members. (c) Effective on the University Conversion Date, the Contingent UPP Members shall commence accruing pensionable service under and making contributions to the UPP in accordance with the terms of the UPP and shall no longer accrue pensionable service under, make contributions to, or have any entitlements or rights under the Plan and the Plan shall, as of the UG Conversion Date cease to exist as a separate pension plan. (d) Employees who are not members of the Plan as of the Conversion Date will join the UPP in accordance with its terms. (e) The terms of the UPP will be consistent with those terms set out in the Milestones Agreement dated October 18, 2018, as amended from time to time, and such other terms as are provided under the definitive documentation establishing the UPP.

Participation in the UPP. (a) Effective January 1, 2020, or, if later, the effective date of the UPP, employees who are active members of the Plan shall become members of the UPP (“Contingent UPP Members”), provided that they shall not accrue any service under the UPP until the later of the date that the Superintendent of Financial Services (or his or her successor) approves a transfer of the assets from the Plan to the UPP and July 1, 2021 (or such other date as the transfer may be approved or the parties may agree) (the “UG Conversion Date”). (b) Employees who become members of the Plan on or after January 1, 2020 but before the UG Conversion Date, will be enrolled in the UPP according to the UPP eligibility provisions as Contingent UPP Members. (c) Effective on the University UG Conversion Date, the Contingent UPP Members shall commence accruing pensionable service under and making contributions to the UPP in accordance with the terms of the UPP and shall no longer accrue pensionable service under, make contributions to, or have any entitlements or rights under the Plan and the Plan shall, as of the UG Conversion Date cease to exist as a separate pension plan. (d) Employees who are not members of the Plan as of the UG Conversion Date will join the UPP in accordance with its terms. (e) The terms of the UPP will be consistent with those terms set out in the Milestones Agreement dated October 18, 2018, as amended in writing from time to timetime by the parties to the Milestones Agreement, and such other terms as are provided under the definitive documentation establishing the UPP.

Participation in the UPP. (a) Effective January 1, 2020, or, if later, the effective date of the UPP, employees who are active members of the Plan shall become members of the UPP (“Contingent UPP Members”), provided that they shall not accrue any service under the UPP until the later of the date that the Superintendent of Financial Services (or his or her successor) approves a transfer of the assets from the Plan to the UPP and July 1, 2021 (or such other date as the transfer may be approved or the parties may agree) (the “UG UT Conversion Date”). (b) Employees who become members of the Plan on or after January 1, 2020 but before the UG UT Conversion Date, will be enrolled in the UPP according to the UPP eligibility provisions as Contingent UPP Members. (c) Effective on the University UT Conversion Date, the Contingent UPP Members shall commence accruing pensionable service under and making contributions to the UPP in accordance with the terms of the UPP and shall no longer accrue pensionable service under, make contributions to, or have any entitlements or rights under the Plan and the Plan shall, as of the UG UT Conversion Date cease to exist as a separate pension plan. A Contingent UPP Member who commences accruing pensionable service under and making contributions to the UPP will be referred to in this MOS as a “UT UPP Contributing Member”. (d) Employees who are not members of the Plan as of the Conversion Date will join the UPP in accordance with its terms. (e) The terms of the UPP will be consistent with those terms set out in the amended Milestones Agreement dated October 18, 2018, a copy of which is attached to this MOA as amended from time Appendix A, and including any further amendments to timethe Milestones Agreement made in writing by the parties to it, and such other terms as are provided under the definitive documentation establishing the UPP.

Participation in the UPP. (a) Effective January 1, 2020, or, if later, the effective date of the UPP, employees who are active members of the Plan shall become members of the UPP (“Contingent UPP Members”), provided that they shall not accrue any service under the UPP until the later of the date that the Superintendent of Financial Services (or his or her successor) approves a transfer of the assets from the Plan to the UPP and July 1, 2021 (or such other date as the transfer may be approved or the parties may agree) (the “UG Conversion Date”). (b) Employees who become members of the Plan on or after January 1, 2020 but before the UG Conversion DatePlan, will be enrolled in the UPP according to the UPP eligibility provisions as Contingent UPP Members. (c) Effective on the University UG Conversion Date, the Contingent UPP Members shall commence accruing pensionable service under and making contributions to the UPP in accordance with the terms of the UPP and shall no longer accrue pensionable service under, make contributions to, or have any entitlements or rights under the Plan and the Plan shall, as of the UG Conversion Date cease to exist as a separate pension plan. (d) Employees who are not members of the Plan as of the UG Conversion Date will join the UPP in accordance with its terms. (e) The terms of the UPP will be consistent with those terms set out in the Milestones Agreement dated October 18, 2018, as amended from time to timetime in writing, and such other written terms as are provided under the definitive documentation establishing the UPP.

Participation in the UPP. (a) Effective January 1, 2020, or, if later, the effective date of the UPP, employees who are active members of the Plan shall become members of the UPP (“"Contingent UPP Members”"), provided that they shall not accrue any service under the UPP until the later of the date that the Superintendent of Financial Services (or his or her successor) approves a transfer of the assets from the Plan to the UPP and July 1, 2021 (or such other date as the transfer may be approved or the parties may agree) (the “UG "UT Conversion Date”"). (b) Employees who become members of the Plan on or after January 1, 2020 but before the UG UT Conversion Date, will be enrolled in the UPP according to the UPP eligibility provisions as Contingent UPP Members. (c) Effective on the University UT Conversion Date, the Contingent UPP Members shall commence accruing pensionable service under and making contributions to the UPP in accordance with the terms of the UPP and shall no longer accrue pensionable service under, make contributions to, or have any entitlements or rights under the Plan and the Plan shall, as of the UG UT Conversion Date cease to exist as a separate pension plan. A Contingent UPP Member who commences accruing pensionable service under and making contributions to the UPP will be referred to in this MOS as a "UT UPP Contributing Member". (d) Employees who are not members of the Plan as of the Conversion Date will join the UPP in accordance with its terms. (e) The terms of the UPP will be consistent with those terms set out in the amended Milestones Agreement dated October 18, 2018, a copy of which is attached to this MOA as amended from time Appendix A, and including any further amendments to timethe Milestones Agreement made in writing by the parties to it, and such other terms as are provided under the definitive documentation establishing the UPP.