Canadian Pacific Railway Company Pension Plan

--------------------------------------------------------------------------------

Consolidated as at January 1, 2009

--------------------------------------------------------------------------------

Amendment Number 3    Page 1

--------------------------------------------------------------------------------

AMENDMENT NUMBER 3
TO THE CANADIAN PACIFIC RAILWAY COMPANY PENSION PLAN
CONSOLIDATED AS AT JANUARY 1, 2009
AMENDMENTS FOR IBEW EFFECTIVE JANUARY 1, 2010.
Effective January 1, 2010,
1.
Delete subparagraph 17.01 (c) and replace it with the following:

17.01
(c)    “Buyback Window” means the period commencing and ending on the dates set
out in the table below:

 
 
 
Affiliation
Buyback Window Commencement Date
Buyback Window
Ending Date
 
 
 
CAW-TCA
March 1, 2008
June 30, 2011
CPPA
January 1, 2010
June 30, 2013
IBEW
January 1, 2010
June 30, 2013
RCTC
January 1, 2003
June 30, 2006
TCRC-RTE
Not applicable
Not applicable
TCRC-MWED
August 1, 2007
July 1, 2010
TC/USWA
January 1, 2010
June 30, 2013
Management
Not applicable
Not applicable

V:\CANADIAN PACIFIC - 101360\REF\RET\PLAN DOCS\AMENDMENT 3 TO THE JANUARY 1,
2009 PLAN RULES-IBEW.DOC

--------------------------------------------------------------------------------

Canadian Pacific Railway Company Pension Plan

--------------------------------------------------------------------------------

Consolidated as at January 1, 2009

--------------------------------------------------------------------------------

Amendment Number 3    Page 2

--------------------------------------------------------------------------------

2.
Delete subparagraph 17.02(a) and replace it with the following:

17.02
(a)    was a Member on the date determined by the Committee as set out in the
table below:

 
 
Affiliation
Eligibility Date
 
 
CAW-TCA
January 1, 2008
CPPA
January 1, 2006
IBEW
January 1, 2010
RCTC
January 1, 2003
TCRC-RTE
Not applicable
TCRC-MWED
August 1, 2007
TC/USWA
January 1, 2010
Management
Not applicable

V:\CANADIAN PACIFIC - 101360\REF\RET\PLAN DOCS\AMENDMENT 3 TO THE JANUARY 1,
2009 PLAN RULES-IBEW.DOC