Common use of PENSION AND INSURANCE Clause in Contracts

PENSION AND INSURANCE. 21 LIFE INSURANCE 21.1 The benefits and terms and conditions of the benefit entitlement for group life, living benefit and spousal life insurance for employees are as described in: the Collective Agreement; the brochure entitled “Group Life Insurance, Living Benefit and Spousal Life Insurance, updated May 31, 2000”. These documents, by reference, form part of the Collective Agreement. The benefits and terms and conditions of benefit entitlement as described in the above documents can be changed by mutual consent only. 21.1.1 The cost of basic term insurance for employees will be paid by Inergi. 21.1.2 The cost of additional term insurance for employees will be paid by the employees. 21.1.3 Upon retirement, term insurance equal to 50% of final base annual earnings will be provided, reducing to 25% ten years after retirement. 21.1.4 An employee will become eligible for membership in the plan upon being assigned regular status. 21.1.5 In the event that an employee does not make an election, Option I (see 21.2 below) will automatically be designated. 21.1.6 After the initial election period, a re-election of option will be permitted only once a year during the month of December. 21.1.7 The employee will be required to submit evidence of insurability if a re-election results in total increased insurance coverage. 21.1.8 Any re-election shall become effective on the January 1st following the year in which the re-election is made or on the date of approval by the insurer of any required evidence of insurability, whichever is later. 21.2 Life Insurance Options Option Basic Term Insurance1 Additional Term Insurance2 21.3 The maximum additional term insurance that may be purchased by an employee shall be referred to a tripartite (Society, Management and CUPE 1000) forum for further consideration. 1 Basic Term Insurance is composed of term insurance equal to base annual earnings raised to the next $500.00 and multiplied by 2. 2 Additional Term Insurance is the optional term insurance which an employee may elect in addition to the basic insurance coverage. It is equal to base annual earnings raised up to the next $1,000.00. 21.4 An employee who meets the following criteria shall be eligible to cash out 50% of his/her total claim value to a maximum of $50,000. Criteria: • the illness must be terminal with death likely to occur within 24 months; • Inergi’s consent is required; • the consent of the employee; • the beneficiary must have reached the age of majority; and • the employee must be competent and able to understand a transaction of this nature. Payments must be processed as a loan and interest charged to avoid making the payment a taxable benefit to the employee. When death occurs, the advance payment plus accrued interest is deducted from the claim value.

PENSION AND INSURANCE. 21 LIFE INSURANCElife inSurance 21.1 The benefits and terms and conditions of the benefit entitlement for group life, living benefit and spousal life insurance for employees are as described in: the Collective Agreement; the brochure entitled “Group Life Insurance, Living Benefit and Spousal Life Insurance, updated May 31, 2000”. These documents, by reference, form part of the Collective Agreement. The benefits and terms and conditions of benefit entitlement as described in the above documents can be changed by mutual consent only. 21.1.1 The cost of basic term insurance for employees will be paid by Inergi. 21.1.2 The cost of additional term insurance for employees will be paid by the employees. 21.1.3 Upon retirement, term insurance equal to 50% of final base annual earnings will be provided, reducing to 25% ten years after retirement. 21.1.4 An employee will become eligible for membership in the plan upon being assigned regular status. 21.1.5 In the event that an employee does not make an election, Option I (see 21.2 below) will automatically be designated. 21.1.6 After the initial election period, a re-election of option will be permitted only once a year during the month of December. 21.1.7 The employee will be required to submit evidence of insurability if a re-election results in total increased insurance coverage. 21.1.8 Any re-election shall become effective on the January 1st following the year in which the re-election is made or on the date of approval by the insurer of any required evidence of insurability, whichever is later. 21.2 Life Insurance Options Option Basic Term Insurance1 Additional Term Insurance2 21.3 The maximum additional term insurance that may be purchased by an employee shall be referred to a tripartite (Society, Management and CUPE 1000) forum for further consideration. 1 Basic Term Insurance is composed of term insurance equal to base annual earnings raised to the next $500.00 and multiplied by 2.Options 2 Additional Term Insurance is the optional term insurance which an employee may elect in addition to the basic insurance coverage. It is equal to base annual earnings raised up to the next $1,000.00. 21.4 An employee who meets the following criteria shall be eligible to cash out 50% of his/her total claim value to a maximum of $50,000. Criteria: • the illness must be terminal with death likely to occur within 24 months; • Inergi’s consent is required; • the consent of the employee; • the beneficiary must have reached the age of majority; and • the employee must be competent and able to understand a transaction of this nature. Payments must be processed as a loan and interest charged to avoid making the payment a taxable benefit to the employee. When death occurs, the advance payment plus accrued interest is deducted from the claim value.

PENSION AND INSURANCE. 21 LIFE INSURANCElife inSurAnce 21.1 The benefits and terms and conditions of the benefit entitlement for group life, living benefit and spousal life insurance for employees are as described in: the Collective Agreement; the brochure entitled “Group Life Insurance, Living Benefit and Spousal Life Insurance, updated May 31, 2000”. These documents, by reference, form part of the Collective Agreement. The benefits and terms and conditions of benefit entitlement as described in the above documents can be changed by mutual consent only. 21.1.1 The cost of basic term insurance for employees will be paid by Inergi. 21.1.2 The cost of additional term insurance for employees will be paid by the employees. 21.1.3 Upon retirement, term insurance equal to 50% of final base annual earnings will be provided, reducing to 25% ten years after retirement. 21.1.4 An employee will become eligible for membership in the plan upon being assigned regular status. 21.1.5 In the event that an employee does not make an election, Option I (see 21.2 below) will automatically be designated. 21.1.6 After the initial election period, a re-election of option will be permitted only once a year during the month of December. 21.1.7 The employee will be required to submit evidence of insurability if a re-election results in total increased insurance coverage. 21.1.8 Any re-election shall become effective on the January 1st following the year in which the re-election is made or on the date of approval by the insurer of any required evidence of insurability, whichever is later. 21.2 Life Insurance Options Option Basic Term Insurance1 Additional Term Insurance2Options 21.3 The maximum additional term insurance that may be purchased by an employee shall be referred to a tripartite (Society, Management and CUPE 1000) forum for further consideration. 1 Basic Term Insurance is composed of term insurance equal to base annual earnings raised to the next $500.00 and multiplied by 2. 2 Additional Term Insurance is the optional term insurance which an employee may elect in addition to the basic insurance coverage. It is equal to base annual earnings raised up to the next $1,000.00. 21.4 An employee who meets the following criteria shall be eligible to cash out 50% of his/her total claim value to a maximum of $50,000. Criteria: • the illness must be terminal with death likely to occur within 24 months; • Inergi’s consent is required; • the consent of the employee; • the beneficiary must have reached the age of majority; and • the employee must be competent and able to understand a transaction of this nature. Payments must be processed as a loan and interest charged to avoid making the payment a taxable benefit to the employee. When death occurs, the advance payment plus accrued interest is deducted from the claim value.

PENSION AND INSURANCE. 21 LIFE INSURANCElife inSurAnce 21.1 The benefits and terms and conditions of the benefit entitlement for group life, living benefit and spousal life insurance for employees are as described in: the Collective Agreement; the brochure entitled “Group Life Insurance, Living Benefit and Spousal Life Insurance, updated May 31, 2000”. These documents, by reference, form part of the Collective Agreement. The benefits and terms and conditions of benefit entitlement as described in the above documents can be changed by mutual consent only. 21.1.1 The cost of basic term insurance for employees will be paid by Inergi. 21.1.2 The cost of additional term insurance for employees will be paid by the employees. 21.1.3 Upon retirement, term insurance equal to 50% of final base annual earnings will be provided, reducing to 25% ten years after retirement. 21.1.4 An employee will become eligible for membership in the plan upon being assigned regular status. 21.1.5 In the event that an employee does not make an election, Option I (see 21.2 below) will automatically be designated. 21.1.6 After the initial election period, a re-election of option will be permitted only once a year during the month of December. 21.1.7 The employee will be required to submit evidence of insurability if a re-election results in total increased insurance coverage. 21.1.8 Any re-election shall become effective on the January 1st following the year in which the re-election is made or on the date of approval by the insurer of any required evidence of insurability, whichever is later. 21.2 Life Insurance Options Options12 Option Basic Term Insurance1 Additional Term Insurance2 21.3 The maximum additional term insurance that may be purchased by an employee shall be referred to a tripartite (Society, Management and CUPE 1000) forum for further consideration. Insurance2 I Two Times Base Salary Nil II Two Times Base Salary One Times Base Salary 1 Basic Term Insurance is composed of term insurance equal to base annual earnings raised to the next $500.00 and multiplied by 2. 2 Additional Term Insurance is the optional term insurance which an employee may elect in addition to the basic insurance coverage. It is equal to base annual earnings raised up to the next $1,000.00. 21.4 An employee who meets the following criteria shall be eligible to cash out 50% of his/her total claim value to a maximum of $50,000. Criteria: • the illness must be terminal with death likely to occur within 24 months; • Inergi’s consent is required; • the consent of the employee; • the beneficiary must have reached the age of majority; and • the employee must be competent and able to understand a transaction of this nature. Payments must be processed as a loan and interest charged to avoid making the payment a taxable benefit to the employee. When death occurs, the advance payment plus accrued interest is deducted from the claim value.

PENSION AND INSURANCE. 21 20 LIFE INSURANCE 21.1 20.1 The benefits and terms and conditions of the benefit entitlement for group life, living benefit and spousal life insurance for employees are as described in: the Collective Agreement; the brochure entitled “Group Life Insurance, Living Benefit and Spousal Life Insurance, updated May 31, 2000”. These documents, by reference, form part of the Collective Agreement. The benefits and terms and conditions of benefit entitlement as described in the above documents can be changed by mutual consent only. 21.1.1 20.1.1 The cost of basic term insurance for employees will be paid by InergiVertex. 21.1.2 20.1.2 The cost of additional term insurance for employees will be paid by the employees. 21.1.3 20.1.3 Upon retirement, term insurance equal to 50% of final base annual earnings will be provided, reducing to 25% ten years after retirement. 21.1.4 20.1.4 An employee will become eligible for membership in the plan upon being assigned regular status. 21.1.5 20.1.5 In the event that an employee does not make an election, Option I (see 21.2 below) will automatically be designated. 21.1.6 20.1.6 After the initial election period, a re-election of option will be permitted only once a year during the month of December. 21.1.7 20.1.7 The employee will be required to submit evidence of insurability if a re-election results in total increased insurance coverage. 21.1.8 20.1.8 Any re-election shall become effective on the January 1st following the year in which the re-election is made or on the date of approval by the insurer of any required evidence of insurability, whichever is later. 21.2 20.2 Life Insurance Options Option Basic Term Insurance1 Additional Term Insurance2 21.3 The maximum additional term insurance that may be purchased by an employee shall be referred to a tripartite (Society, Management and CUPE 1000) forum for further consideration. Insurance2 1 Basic Term Insurance is composed of term insurance equal to base annual earnings raised to the next $500.00 and multiplied by 2. 2 Additional Term Insurance is the optional term insurance which an employee may elect in addition to the basic insurance coverage. It is equal to base annual earnings raised up to the next $1,000.00. 21.4 An employee who meets the following criteria shall be eligible to cash out 50% of his/her total claim value to a maximum of $50,000. Criteria: • the illness must be terminal with death likely to occur within 24 months; • Inergi’s consent is required; • the consent of the employee; • the beneficiary must have reached the age of majority; and • the employee must be competent and able to understand a transaction of this nature. Payments must be processed as a loan and interest charged to avoid making the payment a taxable benefit to the employee. When death occurs, the advance payment plus accrued interest is deducted from the claim value.

PENSION AND INSURANCE. 21 LIFE INSURANCE 21.1 The benefits and terms and conditions of the benefit entitlement for group life, living benefit and spousal life insurance for employees are as described in: the Collective Agreement; the brochure entitled “Group Life Insurance, Living Benefit and Spousal Life Insurance, updated May 31, 2000”. These documents, by reference, form part of the Collective Agreement. The benefits and terms and conditions of benefit entitlement as described in the above documents can be changed by mutual consent only. 21.1.1 The cost of basic term insurance for employees will be paid by Inergi. 21.1.2 The cost of additional term insurance for employees will be paid by the employees. 21.1.3 Upon retirement, term insurance equal to 50% of final base annual earnings will be provided, reducing to 25% ten years after retirement. 21.1.4 An employee will become eligible for membership in the plan upon being assigned regular status. 21.1.5 In the event that an employee does not make an election, Option I (see 21.2 below) will automatically be designated. 21.1.6 After the initial election period, a re-election of option will be permitted only once a year during the month of December. 21.1.7 The employee will be required to submit evidence of insurability if a re-election results in total increased insurance coverage. 21.1.8 Any re-election shall become effective on the January 1st following the year in which the re-election is made or on the date of approval by the insurer of any required evidence of insurability, whichever is later. 21.2 Life Insurance Options Options12 Option Basic Term Insurance1 Additional Term Insurance2 21.3 The maximum additional term insurance that may be purchased by an employee shall be referred to a tripartite (Society, Management and CUPE 1000) forum for further consideration. Insurance2 I Two Times Base Salary Nil II Two Times Base Salary One Times Base Salary 1 Basic Term Insurance is composed of term insurance equal to base annual earnings raised to the next $500.00 and multiplied by 2. 2 Additional Term Insurance is the optional term insurance which an employee may elect in addition to the basic insurance coverage. It is equal to base annual earnings raised up to the next $1,000.00. 21.4 An employee who meets the following criteria shall be eligible to cash out 50% of his/her total claim value to a maximum of $50,000. Criteria: • the illness must be terminal with death likely to occur within 24 months; • Inergi’s consent is required; • the consent of the employee; • the beneficiary must have reached the age of majority; and • the employee must be competent and able to understand a transaction of this nature. Payments must be processed as a loan and interest charged to avoid making the payment a taxable benefit to the employee. When death occurs, the advance payment plus accrued interest is deducted from the claim value.

PENSION AND INSURANCE. 21 20 LIFE INSURANCE 21.1 20.1 The benefits and terms and conditions of the benefit entitlement for group life, living benefit and spousal life insurance for employees are as described in: the Collective Agreement; the brochure entitled “Group Life Insurance, Living Benefit and Spousal Life Insurance, updated May 31, 2000”. These documents, by reference, form part of the Collective Agreement. The benefits and terms and conditions of benefit entitlement as described in the above documents can be changed by mutual consent only. 21.1.1 20.1.1 The cost of basic term insurance for employees will be paid by Inergi. 21.1.2 20.1.2 The cost of additional term insurance for employees will be paid by the employees. 21.1.3 20.1.3 Upon retirement, term insurance equal to 50% of final base annual earnings will be provided, reducing to 25% ten years after retirement. 21.1.4 20.1.4 An employee will become eligible for membership in the plan upon being assigned regular status. 21.1.5 20.1.5 In the event that an employee does not make an election, Option I (see 21.2 20.2 below) will automatically be designated. 21.1.6 20.1.6 After the initial election period, a re-election of option will be permitted only once a year during the month of December. 21.1.7 20.1.7 The employee will be required to submit evidence of insurability if a re-election results in total increased insurance coverage. 21.1.8 20.1.8 Any re-election shall become effective on the January 1st following the year in which the re-election is made or on the date of approval by the insurer of any required evidence of insurability, whichever is later. 21.2 20.2 Life Insurance Options Option Basic Term Insurance1 Insurance2 Additional Term Insurance2Insurance3 21.3 20.3 The maximum additional term insurance that may be purchased by an employee shall be referred to a tripartite (Society, Management and CUPE 1000) forum for further consideration. 1 Basic Term Insurance is composed of term insurance equal to base annual earnings raised to the next $500.00 and multiplied by 2. 2 Additional Term Insurance is the optional term insurance which an employee may elect in addition to the basic insurance coverage. It is equal to base annual earnings raised up to the next $1,000.00. 21.4 An employee who meets the following criteria shall be eligible to cash out 50% of his/her total claim value to a maximum of $50,000. Criteria: • the illness must be terminal with death likely to occur within 24 months; • Inergi’s consent is required; • the consent of the employee; • the beneficiary must have reached the age of majority; and • the employee must be competent and able to understand a transaction of this nature. Payments must be processed as a loan and interest charged to avoid making the payment a taxable benefit to the employee. When death occurs, the advance payment plus accrued interest is deducted from the claim value.