Exhibit
10.9


 


PREAMBLE


 


This Agreement is entered
into this 25th day of February, 2002 by and between Heim Bearing
division, Roller Bearing Company, hereinafter called the COMPANY, AND THE
INTERNATIONAL UNION, UNITED AUTOMOBILE, AEROSPACE AND AGRICULTURAL IMPLEMENT
WORKERS OF AMERICA, U.A.W., AND AMALGAMATED LOCAL 376, UAW, the certified
bargaining representative of all employees in the appropriate unit, a signatory
party hereto, hereinafter referred to as the UNION.


 


ASSIGNABILITY


 


This Agreement shall be binding
upon the Successors and Assignees of the parties hereto, and no provisions,
terms, or obligations herein contained shall be affected, modified, altered or
changed in any respect whatsoever by any change in the regular status,
ownership or management of either party herein, provided the plant and
facilities of the Company remain within the State of Connecticut.  In the event the present owners sell or
assign the plant, or sell their interest in the business, the present owners
agree to make this Agreement a condition of such sale or assignment, provided
such sale or assignment contemplates that the plant and facilities of the
Company will remain within the State of Connecticut, and the present owners
shall be relieved of any personal liability whatsoever under the Agreement
thereafter.


 


ARTICLE A


EMPLOYEES COVERED
BY THIS


AGREEMENT


 


Section 1.  The Company recognizes the Union as the sole
and exclusive bargaining agency of the following employees:  all production and maintenance employees,
including stockroom employees and tool clerks, also shipping and receiving
clerks, excluding, however, engineering and clerical employees and supervisory
employees as defined in the Labor-Management Relations Act of 1947, and any
amendments thereto.


 


ARTICLE B


RECOGNITION


 


Section 1.               The Union represents that it has
been authorized by a majority of the Company’s employees in a unit appropriate
for such purposes, as the representative designated or selected for the purpose
of collective bargaining in respect to rates of pay, wages, hours of
employment, or other conditions of employment.


 


ARTICLE C


UNION SECURITY


 


Section 1.               All present employees within the
Bargaining Unit on the effective date of this Agreement shall, within thirty
days thereafter, as a condition of employment, become and/or remain members of
the Union in good standing to the extent of paying membership dues and
initiation fees.


 

















 


Section 2.               Employees in the bargaining Unit
who have not on the effective date of this Agreement completed thirty days of employment
with the Company shall, as a condition of employment, within thirty days after
the effective date of this Agreement or at the expiration of thirty days of
employment, whichever period is longer, become and remain members of the Union
in good standing to the extent of paying membership dues and initiation fees.


 


Section 3.               All new employees hired during
the life of this Agreement shall, as a condition of employment, within thirty
days after date of hire or thirty days after the signing of this Agreement,
whichever period is longer, become and remain members of the Union in good
standing to the extent of paying membership dues and initiation fees.


 


Section 4.               The Company will give to each
present employee a printed copy of this Agreement.


 


Section 5.               The Company will give a printed
copy of this agreement, together with an authorization form for check-off of
dues to all new hires.


 


ARTICLE D


CHECK-OFF


 


Section 1.               The Company shall deduct, for
employees covered by this Agreement who are members of the Union, their Union
membership dues and initiation fees levied against all Union members in
accordance with the Constitution and Bylaws of the Union and promptly remit the
same, together with a list of employees for whom deductions were made, to the
Financial Secretary of the Union who is authorized to receive said payments,
provided that the Company has received from such employees individual and
voluntary signed authorizations. 
Authorization cards shall be in the following form:


 


AUTHORIZATION FOR
CHECK-OFF OF DUES


 


To Heim Bearings
Division, Roller Bearing Company, Inc.


 




	
  Date                                      

  






 


I hereby assign to Local
Union No. 376, International Union, United Automobile Aerospace and
Agricultural Implement Workers of America (UAW), from any wages earned or to be
earned by me as your employee (in my present or in any future employment by
you), such sums as the Financial Officer of said Local Union No. 376 may
certify as due and owing from me as membership dues, including an initiation or
reinstatement fee and monthly dues in such sum as may be established from time
to time as union dues in accordance with the Constitution of the International
Union, UAW.  I authorize and direct you
to deduct such amounts from my pay and to remit same to the Union at such times
and in such manner as may be agreed upon between you and the Union at any time
while this authorization is in effect.


 


This assignment,
authorization and direction shall be irrevocable for the period of one (1) year
from the date of delivery hereof to you, or until the termination of the
collective agreement between the Company and the Union which is in force at the
time of delivery of this authorization, whichever occurs sooner; and I agree
and direct that this assignment, authorization and direction shall be
automatically renewed and shall be irrevocable for successive periods of one
(1) year each or for the period of each succeeding applicable collective period
of each


 


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succeeding applicable
collective agreement between the Company and the Union, whichever shall be
shorter, unless written notice is given by me to the Company and the Union, not
more than twenty (20) days and not less than ten (10) days prior to the
expiration of each period of one (1) year, or of each applicable collective
agreement between the Company and the Union whichever occurs sooner.


 


This authorization is
made pursuant to the provisions of Section 392 (c) of the Labor Management
Relations Act of 1947 and otherwise.


 


	
   

  	
   

  	
   

  
	
  (Signature of Employee
  here)

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
  (Type of print name of
  employee here)

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
  (Date of sign.)

  	
   

  	
  (Emp. Clock No.)

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
  (Address of Employee)

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
  (City)

  	
  (State)

  	
  (Zip)

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
  (Soc. Sec. No.)

  	
   

  	
  (Date of del. to

  Employer)

  



 


Section 2.               All deductions covered by this
Agreement shall be made in a manner agreed upon with the Union, except that
dues and initiation fees will be on a monthly basis.  However, local practices, relative to number of hours per month
to be worked before dues deductions shall be made, shall be in accord with the
Constitution of the International Union. 
If in any month full dues are not deducted, the Company and Union may
agree upon an orderly manner of collection in the succeeding month or months.


 


Section 3.               All sums deducted under the
Agreement shall be remitted to the Financial Secretary of the local Union,
prior to the first of the month following the deduction and the Company will
furnish the financial Secretary of the local Union, monthly, a record of those
for whom deductions have been made, together with the amount of such deductions
and also a record of all terminations and employees absent during the week of
the check-off.


 


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ARTICLE 1


HOURS AND OVERTIME


 


Section 1.               The normal work week shall be:


 


(a)                                  Forty
(40) hours, based on eight (8) hours per day, five (5) days per week, Monday
through Friday inclusive.


 


(b)                                 The
normal work week shall begin on Sunday night at 11:00 p.m. with the start of
the third (3rd) shift and end 168 hours later.


 


(c)                                  The
first day shall be the 24 hour period beginning with the employees regular
scheduled shift starting time.


 


(1)           First shift hours 6:00 a.m. to 2:30
p.m.


 


(2)           Second shift hours 3:30 p.m. to
midnight


 


(3)           Third shift hours 11:00 p.m. to 7:00
a.m.


 


(d)                                 Third
shift employees will be entitled to a paid 20 minute lunch.


 


(e)                                  Friday
will be the third shift’s “Saturday” for overtime pay calculation purposes.


 


(f)                                    Saturday
will be the third shift’s “Sunday” for overtime pay calculation purposes.


 


(g)                                 Third
shift employees will not be required to work overtime prior to the start of the
shift on Sunday night.


 


(h)                                 First
and second shift employees presently working twelve (12) hour shifts will
revert to the schedules in paragraph (c) respectively in the event that the
twelve (12) hour shifts are discontinued for any reason.


 


Section 2.               Time and one-half shall be paid
for all work performed.


 


(a)           In excess of eight (8) hours in any
one day.


 


(b)           In excess of forty (40) hours in any
one week.


 


(c)           On Saturdays as such.


 


(d)                                 Any
employee called in to work outside of the regularly scheduled shift hours shall
be paid not less than four (4) hours at his/her base rate as follows:


 


(1)           Time actually worked at prevailing
rate, plus


 


(2)           The remaining of the four (4) hours
not worked at straight time pay unless it is a premium day and the premium rate
shall prevail.


 


(e)           Double time will be paid for all work
performed on Sundays.


 


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Section 3.               Notification of Overtime


 


(a)                                  Employees
shall not be required to work overtime when insufficient notice is given.  Notification at any time prior to the close
of the prior day’s shift will be considered sufficient notice for daily
overtime.


 


(b)                                 Employees
will be charged for all overtime hours where proper notification has been
given, whether the employee works or not.


 


(c)                                  Employees
shall not be required to work Saturday or Sunday overtime when insufficient
notice is given or when there is a reasonable excuse for not working.  Notice of Saturday of Sunday overtime must
be given to the employee no later than the end of the shift on the preceding
Thursday.


 


Section
4.


 


(a)                                  Overtime
will be equally distributed among those employees within the departments by
classification provided they have the ability to perform the available overtime
work.


 


(b)                                 Overtime
records will be maintained in each department next to the work instructions for
employees to inspect at any time.  All
records will be updated weekly.


 


(c)                                  Employees
with the lowest overtime hours will be asked to work first within their
department by job classification.


 


(d)                                 Employees
working overtime outside their departments shall be charged for actual hours
worked back to their department for overtime equalization.


 


(e)                                  The
company shall keep a record of overtime worked and overtime refused by
employees and shall furnish the Union with a copy of such record at the end of
each month.  If the difference in
overtime hours worked between the employee with the greatest number of overtime
hours and the other employees in the same work classification shall exceed ten
(10) hours at the end of every three (3) month period, such difference shall be
paid at time and one-half the other employee’s regular hourly rate, except when
such difference results from the other employee’s refusal to work in accordance
with this article.


 


Section
5.                                            Overtime
hours available will be recorded according to the following:


 


(a)                                  Overtime
hours offered and refused will be considered hours worked for the purpose of
equalizing overtime.


 


(b)                                 Employees
absent for any reason will be charged for all overtime hours they would have
been offered had they been at work.


 


Section
6.                                            There
shall be no duplication of compensation for overtime for the same hours worked
by an employee by reason of daily, weekly or other overtime provisions of any
kind.


 


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ARTICLE 2


HOLIDAYS


 


Section 1.


 


(a)                                  Except
as hereinafter provided, all work done on the holidays set forth below shall be
paid for at the rate of double time plus holiday pay.  The specified holidays shall also be considered as days worked
for the purpose of computing overtime pay only.


 


	
  M.L. King Day

  	
   

  	
  Labor Day

  
	
  Good Friday

  	
   

  	
  Thanksgiving Day

  
	
  Memorial Day

  	
   

  	
  Friday after
  Thanksgiving

  
	
  Independence Day

  	
   

  	
  Employee’s Birthday

  



 


The Company will provide
the following Christmas and New Year’s Holidays with pay per the following
schedule:


 


	
  2002 Dec. 23, 24, 25,
  26, 27

  	
   

  	
  Jan. 1, 2003

  
	
  2003 Dec. 24, 25, 26, 29,
  30, 31

  	
   

  	
  Jan. 1, 2004

  
	
  2004 Dec. 24, 27, 28,
  29, 30, 31

  	
   

  	
   

  



 


(b)                                 It
is understood between the parties that an employee who is off work receiving
sick and accident benefits during a week in which a holiday falls will be paid
such holiday pay in addition to S & A benefits.  Similarly, employees receiving Workers’ Compensation will receive
holiday pay for a period not to exceed the agreed upon time limits for S &
A coverage.


 


Section
2.                                            When
a holiday falls on a Saturday, it shall be celebrated on the preceding
Friday.  When a holiday falls on a
Sunday, such holiday shall be celebrated on the following Monday, excluding
Christmas and New Year’s week.


 


Section
3.                                            The
holidays mentioned above shall be with pay. 
Consequently, all employees shall receive an amount equal to eight (8)
hours pay at their hourly rate for the specified holiday even though no work is
performed.  In order to be eligible for
holiday pay, the employees must:


 


(a)                                  Have
been in attendance on the work days preceding and following the holiday unless
the absence is for:


 


(1)                                  Death
in the immediate family as defined in Article 9.


 


(2)                                  Jury
Duty.


 


(3)                                  Important
Union business on the part of stewards, Shop Committee persons, Officers or
Appointees made known to and approved by the Company prior to such holidays.


 


(4)                                  An
employee who is laid off and again recalled within thirty (30) days, during
which period a paid holiday falls, shall receive holiday pay for that holiday.


 


(5)                                  For
other reasonable cause.


 


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(b)                                 Employees
on twelve (12) hour shifts will revert to their normal eight (8) hour shifts
and will not be required to work overtime on the day prior to Good Friday,
Thanksgiving and Independence Day.


 


Section
4.                                            When
a holiday falls within a scheduled vacation period, another day off be between
Monday and Friday will be granted for that vacation day not taken or paid for
during the vacation period.


 


Section
5.                                            Employees
on leave of absence shall not be entitled to any holiday pay during such leave.


 


ARTICLE 3


WAGES AND RATES OF
PAY


 


Section 1.


 


(a)           Effective February 1, 2002, a
general wage increase of 2.9%


 


Effective
February 1, 2003, a general wage increase of 2.75%


 


Effective
February 1, 2004, a general wage increase of 2.9%


 


The hourly rates of pay
shown in Appendix A, and Appendix B attached hereto and made a part hereof,
shall remain in effect for the life of this Agreement.


 


(b)                                 It
is agreed that during the period of this Agreement, each employee covered by
this Agreement, shall receive a guaranteed cost of living allowance which will
be added to the employee’s straight time hourly earnings as set forth in
Appendix A of the Agreement.  The guaranteed
cost of living increases will be as follows:


 


	
  August 5, 2002

  	
   

  	
  10 cents

  	
   

  
	
  August 4, 2003

  	
   

  	
  5 cents

  	
   

  
	
  August 2, 2004

  	
   

  	
  5 cents

  	
   

  



 


(c)                                  Should
the effective date of the increases mentioned above fall on a Monday, Tuesday
or Wednesday, the increase specified shall revert to Monday.  Should the increases specified above fall on
a Thursday or Friday, the increases shall become effective on the following
Monday.


 


Section
2.


 


Employees required to
work on a shift other than the day shift will be paid a shift premium equal to
10% of their hourly rate in addition to their regular earnings for such hours
worked.


 


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Section
3.


 


(a)                                  The
Company and the Union have negotiated job descriptions and evaluations by Labor
Grade.  Such descriptions and
evaluations are apart of this Agreement.


 


(b)                                 Newly
hired employees will start at the hire rate unless their training, knowledge or
experience justify hiring at a higher rate. 
They will progress to the maximum rate by receiving a twenty (20) cent
per hour increase after each sixty (60) days worked, payable starting in the
nearest Monday.  It is recognized that
the last raise may be less than twenty (20) cents per hour.


 


Employees, still in
progression, who are successful bidders on another job in a higher labor grade
will receive a twenty (20) cent per hour increase when they start the new job
and then will progress in twenty (20) cent increments after each sixty (60)
days worked until they reach the maximum. 
Rate changes will be made on the nearest Monday.  The last raise may be less than twenty (20)
cents.


 


(c)                                  Employees
who are promoted from the maximum rate of one job to a higher paying job will
receive the maximum rate of the higher job on the date of promotion.


 


(d)                                 Employees
who are at maximum and have been transferred to a higher rated job and are
later transferred back to a lower rated job will receive the maximum of the
lower rated job.


 


(e)                                  Employees
who have not progressed to the maximum and who move from a higher rated job to
a lower rated job will go down to a rate in the lower grade that is equivalent
to the progression point that they were in the higher rated job.


 


(f)                                    All
employees currently in Labor Grade 1

will be promoted to Labor Grade 2.


 


ARTICLE 4


VACATIONS


 


Section 1.               Effective February 1, 1996,
the continuous service requirements and earned vacation with pay at straight
time as detailed in the following vacation schedule table shall apply.  The service requirement will be based upon
seniority as of August 1st of the vacation year.


 


Service
Requirement Earned Vacation


 




	
  1 year but less than 2
  years

  	
  1 week (40 hrs)

  
	
  2 years but less than 5
  years

  	
  2 weeks (80 hrs)

  
	
  5 years but less than
  10 years

  	
  2-1/2 weeks (100 hrs)

  
	
  10 years but less than
  15 years

  	
  3 weeks (120 hrs)

  
	
  15 years but less than
  20 years

  	
  3-1/2 weeks (140 hrs)

  
	
  20 years but less than
  25 years

  	
  4 weeks (160 hrs)

  
	
  25 years and over

  	
  5 weeks (200 hrs)

  






 


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Section 2.               A vacation shutdown period of up
to two weeks may be designated by the Company upon notice to the Union by
January 31 of each calendar year. 
If an employee has scheduled a vacation relying on the Company’s
shutdown notice, the employee will not be compelled to work.


 


Section 3.               Employees entitled to at least
two (2) weeks of vacation must take the same during the plant shutdown.  Employees entitled to more than two (2)
weeks of vacation may take same at a time of their choice but seniority and
Company production schedules shall be taken into consideration.


 


Section 4.               Employees must have worked a
minimum of 1000 hours in order to qualify for full vacation pay as provided in
Section 1 above.  Employees working less
than 1000 hours shall be paid on a pro-rated basis.  The period for determining hours worked shall be from August 1
of the prior year through July 31 of the current year.  Employees terminated for any reason shall
receive a pro-rated vacation pay. 
Absence due to sickness or injury shall be counted as hours worked.


 


Section 5.               The Company agrees to provide a
vacation bonus of $100 to all employees with 20 years of service.  The Company agrees to provide a vacation
bonus of $200 to all employees with 25 years service or more.


 


Section 6.               Employees who are entitled to and
wish to schedule a vacation should notify their supervisor in writing by
March 15.  Permission will be
granted based upon Company seniority and Company production schedules and
specific written responses will be made by April 1.


 


Once an employee’s
vacation has been approved, it will not be changed unless circumstances mandate
a change and more senior employees may not displace an employee’s approved
vacation.


 


An employee who does not
request vacation by March 15 or who requests additional vacation time must
submit a request in writing no later than three weeks prior to the time
requested.  This three week notice requirement
will not apply in emergencies.


 


Section 7.               All vacation pay shall be
distributed the last period prior to the shutdown period.


 


ARTICLE 5


SENIORITY


 


Section 1.               A seniority list including date
of birth, hiring date, job classification, department, labor grade, total
points and social security number shall be maintained and a copy shall be
furnished to the Union quarterly.


 


(a)                                  The
Company shall furnish the Union with a monthly report showing the names and
dates of new hires, layoffs, recalls, quits, discharges, leaves of absence
(granted and expired) and adjustments in the seniority listings with respect to
dates.  Any errors in the seniority
lists, layoffs and recalls that are discovered due to this submission shall be corrected
immediately.


 


(b)                                 The
Shop Chairperson shall be notified promptly of any additions or deletions.


 


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Section
2.                                            Employees
will lose their seniority status if they:


 


(a)                                  Quit.


 


(b)                                 Are
discharged for justifiable cause.


 


(c)                                  Do
not report for work within five (5) working days following a notification by
certified letter of restoration after a layoff, except where a reasonable
excuse is provided.


 


(d)                                 Are
absent without a leave of absence or excused absence for three (3) consecutive
working days without notifying the Company, except where reasonable cause is
provided.


 


(e)                                  Are
on layoff in excess of thirty-six (36) months. 
Probationary employees who are laid-off will not be listed on the layoff
list.


 


(f)                                    Are
absent from work because of a non-occupational disability for a continuous
period in excess of eighteen (18) months.


 


Section
3.                                            New
employees shall be regarded as temporary or probationary employees for the
first sixty (60) calendar days of their employment.


 


Section
4.                                            Employees
advanced from hourly status to salary status shall lose seniority and
privileges under this contract thirty (30) calendar days after such appointment
unless returned to the Bargaining Unit within said period.


 


Section
5.                                            Employees
who are absent from work because of illness or injury will be returned to their
“original” job upon presenting the Company with a copy of their unconditional
medical release to return to work.


 


If their “orginal” job is
no longer available, they will exercise their contract rights in accordance
with Article 8 of this contract.


 


Jobs that become vacant,
because the employee in that job classification has been absent from work
because of injury or illness for a period of more than thirty (30) days and,


 


In the judgment of the
Company, that job needs to be filled it shall be handled as follows:


 


1.                                       The
Company shall offer recall rights to all eligible employees in an equal or
higher labor grade in accordance with Article 8, Section 1 (b) of the contract.


 


2.                                       If
no employee(s) have recall rights as describe in item 1 above, the Company , at
its discretion may post the job as “Temporary” job.


 


Bids on the “Temporary”
job shall be handled in accordance with Article 6 of the contract.


 


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3.                                       If
there are no successful bids on the “Temporary” job, the Company shall offer
recall rights to all eligible employees in a lower labor grade.


 


4.                                       If
there is a reduction in force in a department where a “Temporary” job exists,
the employee in the “Temporary” job must be returned to the same status he/she
had prior to accepting the “Temporary” job before the layoff commences.


 


5.                                       If
the “Temporary” job is not filled after the above three actions have been taken
and, in the judgement of the Company, the job needs to be filled, the Company
may hire “from the street” to fill the job with the understanding that it is a
“Temporary” job.  The person hired from
the street to fill the “Temporary” job shall exercise his/her rights, if any,
under Article 8 of the contract when such “Temporary” job ceases to exist.


 


6.                                       When
it is determined the disabled employee will not or cannot return to work the
opening will be posted in accordance to Article 6.


 


ARTICLE 6


JOB POSTING


 


Section
1.               Job
openings will be filled based on plantwide seniority and basic qualifications
regardless of shift.


 


(a)                                  New
jobs and vacancies in existing jobs to which no employee has recall rights will
be posted on the plant bulletin board for a period of three (3) working
days.  A general description of each job
responsibility will be shown on the posting.


 


(b)                                 If
the same job opening occurs within a period of thirty (30) days from the first
date of an original job posting, no new posting will be required.  The new job opening will be filled from the
original bidding list.  If there are no
remaining qualified bidders on the original list, the new job opening shall be
posted immediately.  However, a new
posting will be required at the end of the original thirty (30) day job
posting.


 


(c)                                  During
the posting period, eligible employees may bid on the posted jobs by completing
a Bid Slip and submitting it to their Supervisor.  The Company will notify the Union in writing and state the reason
for withdrawing the posting for any job.


 


(d)                                 Employees
will be eligible to bid on higher, equal or lower paying job provided:


 


(1)                                  They
have completed the probationary period.


 


(2)                                  Those
who have bid and been accepted on lower paying jobs under this procedure must
remain in the new department for a period of at least six (6) months before
being eligible to again bid on another job outside their department.  However, these employees may bid upward or
lateral through all labor grades within their department at any time.


 


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(e)                                  Following
the closing of the posting, bidders will be considered and interviewed by the
Personnel Department for each job opening in order of seniority; a Shop
Commiteeperson shall be present.  The
most senior employee who has the basic qualifications to perform the required
work will be promoted to the job within a period of thirty (30) calendar
days.  Unsuccessful bidders will be
notified by the company in writing.  A
copy of the notice of disaward which will include the grounds for disaward will
be given to the Shop Chairperson. 
Bidders may withdraw their bids at any time before starting the new job
by signing a refusal slip provided by the Company, a copy of which will be
given to the Shop Chairperson.


 


(f)                                    Job
openings in a “Training Program” will also be filled under this procedure.


 


(g)                                 Should
an employee with basic qualifications grieve the Company’s selection in filling
the vacancy, the employee must be shown the basic requirements of the job and
have the assistance of the Leadperson and/or Supervisor for a five (5) day
period in order to prove his/her ability to meet the basic qualifications.


 


(h)                                 The
shop chairperson or an appointee will be notified prior to all permanent
transfers and promotions within the Bargaining Unit.


 


ARTICLE 7


TEMPORARY TRANSFERS


 


Section 1.               The Union will be notified at the
time when temporary transfers become necessary.


 


Temporary
work assignments:


(a)                                  Employees
may be temporarily transferred from one department to another for a period not
to exceed six (6) days per month, and provided that during the transfer, the
job he/she left shall not be filled and he/she shall be returned to his/her
permanent job upon completion of temporary assignment or for longer periods of
time if agreed by the Union and the Company.


 


(b)                                 Employees
shall be transferred by seniority, lowest senior person first within the
department to a lower rated job.


 


(c)                                  Employees
shall be transferred by seniority, highest senior person first within the
department to a higher rated job.


 


(d)                                 No
employee will be required to perform work in a higher labor grade on any basis
(temporary or permanent) unless they are paid according to the prevailing rate
of pay on said higher labor grade.  No
employee will be forced or coerced into taking a promotion.


 


(e)                                  No
employee will be required to perform work in a lower labor grade on a temporary
basis at the rate of pay in said lower labor grade.  That is, employees will be guaranteed their former (higher) rate
of pay while working on a temporary transfer in a lower labor grade.


 


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(f)                                    The
shop Committeeperson in the area involved in a transfer will receive a copy of
a transfer notice.  This transfer notice
will state the department, job title and labor grade to which the employee is
being transferred.  The
Shopcommittee-person will be notified immediately by a written transfer notice
in any of the following conditions:


 


A.            Any transfer lasting more than one day.


 


B.            Any change in labor grade at any time.


 


(g)                                 Employees
shall have the privilege of exchanging shifts temporarily by individual
arrangement provided they notify their supervisor in advance and have the
necessary qualifications to perform the work. 
The change must be effected without additional cost or penalty to the Company.  If the period of such exchange of shifts is
in excess of one (1) week, the Company and the Union must mutually agree to
such arrangements.


 


Section 2.               An employee with one (1) year of
seniority or more shall be permitted to use this seniority to exercise shift
preference in writing one week in advance to displace another employee with
less seniority in the same job classification and department on another
shift.  The shift change option is
limited to only one (1) time per year.


 


ARTICLE 8


LAYOFF RECALLS


 


Section
1.


 


(a)                                  All
layoffs, recalls, transfers and promotions within the Bargaining Unit shall be
made on the basis of plantwide seniority provided the employee has the basic
qualifications to perform the required work.


 


(b)                                 When
it becomes necessary to reduce the workforce it shall be done as follows by
laying off all probationary and part-time employees first.


 


(c)                                  The
Company shall, in the event of layoff, provide notification to affected
employees early enough to furnish at least three (3) working days notice to the
Shop Committee and employees affected by any layoff for any period of time, or
pay such employees hourly base rates in lieu of said notice.  This requirement shall not apply to
interruption resulting from any condition beyond the Company’s controls.  All layoffs must commence on the last
working day of the week (Friday).


 


(d)                                 Employees
in classifications affected by layoff will have an option to accept a lay-off
slip stating lack-of-work or bump a junior service employee provided they have
the basic qualifications to perform the work. 
The initial notification mentioned in paragraph (c) will begin the
bumping process and employees must make their bumping decision immediately.  Upon request by the employee, the bumping
decision can be delayed, but not beyond two (2) hours and then is bound by that
choice.


 


13

















 


(e)                                  Employees
will have five (5) days in which to demonstrate their ability to perform a job
in case of layoff and recall.  Employee
must be shown basic requirements of job and have assistance of Leadperson
and/or Foreperson for a five (5) day period.


 


(f)                                    There
shall be no upward bumping.


 


(g)                                 In
the event of a layoff, the Shop Chairperson, the members of the Shop Committee
and Company employees who are Executive Officers of the Local Union shall be
accorded top seniority, but they must have the basic qualifications to perform
the available work.


 


(h)                                 Recalls
shall be in reverse order of layoff. 
The most senior employee with basic qualifications on the layoff list
will be recalled for available work. 
Employees recalled to fill a temporary job vacancy may refuse this
assignment without prejudicing their recall rights.


 


(i)                                     Employees
affected by bumping procedure must return to their original job when such
opening occurs.


 


ARTICLE 9


LEAVE OF
ABSENCE-EMERGENCY TIME OFF


 


Section 1.               When the requirements of the
Company will permit, employees upon written request on account of illness or
death in their immediate family or other reasonable cause approved by the
Company, will be granted a leave of absence without pay for a period of not
more than ninety (90) days, which shall be renewable if production requirements
permit.  Any such employees on leave who
engaged in other employment, or who fail to report for work on the expiration
of their leave, will be considered as having quit.  All such leaves of absences shall be granted in writing by the
Company.


 


Section 2.               Employees granted a leave of
absence must prepay all insurance premiums prior to their departure for said
leave.  This prepayment must also be
made in the event the leave is extended by mutual agreement.


 


Section 3.               Any employee who enters the Armed
Forces shall be entitled to a leave of absence, accumulations of seniority and
re-employment rights, in accordance with Federal and State Laws.  In addition, an employee who is a member of
the Military Reserve or National Guard shall be granted leave for annual
training or special tour not to exceed three (3) weeks per calendar year.  Such employee during this period shall
receive the difference in pay, if any, between their normal rate of pay and
wages paid by the service branch.


 


Section 4.               Seniority will be accumulated
during leaves of absences as described above.


 


14

















 


Section 5.               Employees may be granted
emergency time off of not more than fourteen (14) calendar days by contacting
the Company by telephone or telegram within three (3) working days giving the
reasons for such request.  Such time off
will be granted for legitimate emergency reasons.  Extensions of emergency time off may be requested under the
provisions of Section 1 of the Article 9.


 


Section 6.               Employees will be granted
pregnancy leave of absence and such leaves will be treated as any other type of
medical leave of absence.


 


ARTICLE 10


CALL TIME


 


Section 1.


 


(a)           Employees reporting for work on their
regular shift without notice from the Company that no work will be available
for them, shall be offered other work for at least four (4) hours or shall be
paid the base rate of their regular job for four (4) hours if there is no other
work for them.  If they refuse the work
offered, they shall forfeit the right to receive reporting pay.


 


(b)                                 Notice
to the employees by the company will be given not later that the end of their
regular shift.


 


(c)                                  This
Article shall not apply where the lack of work is due to conditions beyond the
control of the Company, or in the case of an employee who has been absent and
has not given the Company adequate notice of return to work.


 


ARTICLE 11


COMMITTEE PERSONS,
GRIEVANCE AND


ARBITRATION
PROCEDURE


 


Section 1.               In addition to the Shop
Chairperson, the Union shall have a Committee-Person for each sixty (60)
employees, except that there shall be a minimum of three (3) Committeepersons
on the first shift, two (2) on the second shift and one (1) on the third
shift.  The Union will provide the
Company with a current list of the Committeepersons and their departmental
responsibilities.


 


Section 2.               Time necessarily spent during the
normal working hours (and during scheduled overtime) by the Shop Chairperson,
Committeeperson, grievant and Union employees of the Company on negotiations,
grievances or arbitration hearings will be paid for by the Company.  If in the opinion of the Company such time
becomes unreasonable, the Company will notify and confer with the Union.


 


(a)           The
Company shall pay the Shop Chairperson for all time spent during the normal
working hours (and during scheduled overtime) on Union business including the
handling and investigations of grievances as set out in this Agreement, for
time spent on arbitration hearings and for negotiations.


 


15

















 


Section 3.               A grievance is a difference of
opinion between the Company and the Union or an employee involving the
interpretation of application of the terms of this Agreement.


 


Section 4.               Grievances shall be processed as
follows:


 


(a)                                  The
grievance must be submitted within fifteen (15) working days after the employee
and the Union are aware of it.


 


(b)                                 The
Shop Chairperson or Committeeperson and employee shall discuss the grievance
with the immediate Supervisor of the department in which the grievance has
occurred.  If the immediate Supervisor’s
oral answer is not satisfactory, the grievance shall be submitted to Step 1.


 


(c)                                  Step
1:  The grievance shall be reduced to
writing and presented to the employee’s immediate Supervisor by the Union
within three (3) working days from the date of the oral answer.  The Supervisor shall write the answer on the
grievance form and return three (3) copies to the Union Committeeperson before
the end of the third (3rd) working day after receipt of the grievance.  Failing a satisfactory settlement, the Union
will have three (3) working days in which to appeal to the Supervisor for
referral to Step 2.


 


(d)                                 Step
2.  The Union Shop Chairperson shall
meet with the Company representative designated to handle the second step
within three (3) days from the date of the appeal.  The Company will give its written answer within three (3) working
days after the meeting.  Failing a
satisfactory settlement, the Union will have three (3) working days in which to
appeal to the Personnel Manager for referral to Step 3.


 


(e)                                  Step
3:  The President of the Local Union
and/or the Business Agent and/or the International Representative, together
with the Union Shop Committee shall take up the grievance with the Committee of
Management which shall include an executive of the Company.  This meeting will be scheduled within seven
(7) working days after the date of the appeal.


 


The Company will have
five (5) working days following the date of the meeting in which to make a
written disposition of the grievance. 
Failing a satisfactory settlement, the Union will have fourteen (14)
days in which to notify the Company in writing of its intent to arbitrate the
issue.


 


(f)                                    Upon
receipt of the Union’s notice of their intention to arbitrate, a prearbitration
hearing shall be scheduled within thirty (30) working days.  After the pre-arbitration hearing, the
Company General Manager will have ten (10) working days to answer.  If the answer is not satisfactory, the Union
will have thirty (30) days following that answer in which to appeal for
arbitration.  If the Union does not appeal
within said time limit, the grievance shall be considered as being
satisfactorily settled.


 


(g)                                 All
of the above stated time limits may be extended by mutual agreement.


 


16

















 


(h)                                 The
Grievant may be present upon request of either party at any of the steps
outlined above.


 


(i)                                     If
grievances are appealed to arbitration, the parties will alternate between the
American Arbitration Association and the State Board of Mediation and
Arbitration.


 


(j)                                     If
submitted to the Connecticut State Board of Mediation and Arbitration, the
parties shall operate under the procedures set forth by said Board, whose
decision shall be final and binding upon the parties.


 


(k)                                  If
submitted to the American Arbitration Association, the parties shall operate
under the procedure set forth by the American Arbitration Association, whose
decision shall be final and binding upon the parties.


 


(l)                                     The
Arbitrator may interpret this agreement and apply it to the particular case
under consideration but shall, however, have no authority to add to, subtract
from or modify the terms of this agreement in any way.


 


(m)                               The
cost of Arbitration shall be shared equally by the Company and the Union.


 


(n)                                 Arbitration
cases involving time study, job evaluation and job standards shall be submitted
only to the American Arbitration Association.


 


(o)                                 The
Company shall not be required to pay back pay for any period in excess of
thirty (30) working days prior to the time a written grievance is properly
filed with the Company.


 


Section 5.               The local Union President and/or
two (2) appointees, and/or a representative of the International UAW
Engineering Department, shall be permitted to enter the plant for the purpose
of investigating, advising or negotiating on grievances.  However, they shall first make known their
intent to the Company and shall receive permission for said visit.  This shall be restricted to entrance during
working hours only.


 


ARTICLE 12


HEALTH AND SAFETY


 


Section 1.


 


(a)                                  The
Company agrees it will provide proper safety devices and sanitary conditions in
the plant.  Failure to do so may be a
matter of grievance.  Furthermore, the
Company agrees that it will pay the full cost of Company mandated safety
equipment.


 


(b)                                 Once
each month starting in February, 1989, at a time to be scheduled by management,
a safety tour between two (2) members of management and two (2) employee
representatives of the Union will make a plant safety tour.  At the end of the tour, unsafe practices and
conditions found in the plant will be listed. 
Appropriate actions will be taken by management to correct unsafe
conditions found. This committee will jointly plan to prevent accidents,
investigate


 


17

















 


accidents, review
accident reports, and OSHA compliance. 
Regular meetings will be scheduled to facilitate the promotion of health
and safety in the plant.


 


(c)                                  The
Company will issue and fill out accident forms on all injuries and give the
Shop Committeeperson a copy immediately.


 


Section 2.               The Company shall provide first
aid facilities and a qualified attendant to perform first aid duties.


 


Section 3.               Employees who are injured on the
job can be sent home and receive pay for the balance of their day only if
authorized by written instruction from the Medical Department or the Company
doctor.  The Company will issue a form
to be used in such cases, a copy of which will be given to the employee’s
Foreperson and to the Union.


 


Section 4.               Where possible, employees
sustaining injuries at work, or affected by occupational diseases during the
course of their employment, and who are physically handicapped as a result
thereof, shall be given other suitable employment as may be then available.


 


ARTICLE 13


LEADPERSON’S SCOPE


 


Section 1.               To relay general instructions
from Foreperson to operators with reference to product, operations, tools,
equipment and duties.


 


Section 2.               All matters involving personnel
problems are to be handled by the Forepersons who have full supervisory
authority over all employees in their departments, including Leadpersons.


 


Section 3.               Leadpersons shall not have the
right to hire, fire, or recommend disciplinary action or recommend promotions
or demotions.


 


ARTICLE 14


BEREAVEMENT PAY


 


Section 1.               Employees (including probationary)
shall be entitled to three (3) working days off with pay in the event of a
death within the “immediate family.”


 


Section 2.               Immediate family shall be limited
to spouse, child, mother, father, sister, brother, grandparent, mother or
father-in-law, brother or sister-in-law, daughter or son-in-law, legal guardian
or stepchild.


 


18

















 


ARTICLE 15


JURY DUTY


 


Section 1.               Employees who have completed
their probationary period, and who are called and report for Jury Duty on days
they would have otherwise worked for the Company, shall be paid regular wages
for thirty (30) days.  Should Jury Duty
continue past 30 days, the employee shall be paid the difference between the
payment they receive for such service and the amount calculated by multiplying
eight (8) times their regular hourly rate for each day involved limited,
however, to Monday through Friday.


 


Section 2.               In order to receive Jury Duty
make-up payment, the employees must give Management prior notice of said Duty
and furnish evidence that they actually performed such service, showing the
amount of payment received accordingly. 
These provisions are not applicable to employees who, without being
called, volunteer for Jury Duty.


 


ARTCILE 16


NOTICE OF
DISCHARGE


 


Section 1.               The Company agrees to give
immediate written notice to the Shop Committeeperson and the employee involved
of all discharges and suspensions made within the unit, except in emergencies.


 


Section 2.               The Chairperson and/or
Committeeperson shall be present at time of employee discharge and suspension
except in emergencies.


 


Section 3.               If an employee is discharged or
suspended, he/she shall have the right to a hearing within twenty-four (24)
hours after suspension or discharge. 
He/she shall be represented by the Shop Chairperson and Committeeperson
and/or Business Agent and/or International Representative.


 


Section 4.               When employees are discharged or
suspended and file a complaint claiming that they were unjustly discharged or
suspended, the Shop Committeeperson may invoke the grievance procedure at the
third step within (5) days after the discharge or suspension.


 


Section 5.               If, upon appeal, any discharge or
suspension shall be found to be unfair or discriminatory, the employee will be
reinstated with seniority rights unimpaired and will be given retroactive pay
for all time lost due to the discharge or suspension, less the earnings he/she
may have received from gainful employment or unemployment insurance obtained in
the interim.


 


ARTICLE 17


UNION COOPERATION


 


The Union agrees that in
exchange for a fair day’s pay for a fair day’s work, it must maintain a high
level of productivity.  The Union and
its members will cooperate in attaining such a level of productivity as is consistent
with the health and welfare of its members. 
The Union and its members will seek to assist in effectuating economies
and the utilization of improved methods and machinery.


 


19

















 


ARTICLE 18


MANAGEMENT


 


It is understood and
agreed that with the exception of the specific provisions of this contract,
nothing in this Agreement shall be considered to limit or restrict the Company
in the exercise of the customary functions of Management.


 


ARTICLE 19


NO STRIKES OR
LOCKOUTS


 


Section 1.               The Union agrees that there shall
be no strikes during the term of this Agreement on any issues which may be the
subject of arbitration or on which the contract is silent.


 


Section 2.               The Company agrees that there
shall be no lockouts during the terms of this Agreement on any issues which may
be the subject of arbitration or on which the contract is silent.


 


ARTICLE 20


PAID SICK AND/OR


PERSONAL LEAVE
ALLOWANCE


 


Section 1.               Each employee, upon vacation
eligibility date, shall be credited with six (6) days (48 hours) paid sick and
or personal leave allowance in accordance with the following provisions:


 


(a)           Employee must have worked at least
1000 hours in the prior twelve (12) month period.  The period for determining hours worked shall be from
August 1st of the prior year through July 31st of the current year.


 


(b)           In the event an employee worked less
than 1000 hours in said period, paid sick and/or personal leave allowance will
be credited in the same proportion as the hours worked are to 1000.  New employees must have worked at least 1000
hours in order to be eligible for paid sick and/or personal leave
allowance.  Employees terminated for any
reason shall receive a pro-rated sick or personal pay.


 


Section 2.               Any employee with credited sick
and/or personal leave allowance, as provided in Section 1 above, may use such
allowance during the following twelve (12) month period for illness (when not
receiving accident and health insurance benefits), or personal reasons, but
provided that absence from work has been excused, is for not less than four (4)
continuous hours and has at least four (4) hours paid sick and/or personal
leave allowance credit remaining. 
Employees shall notify the Company when electing to take personal days
off.


 


Section 3.               Paid sick and/or personal leave
allowance shall be computed on the basis of the employee’s regular rate of pay
as of the day of absence and shall be paid on the pay check for said period so
long as application for same has been submitted on a timely basis.  Application for payment shall be made
through the employee’s supervisor on forms so provided.


 


20

















 


Section 4.               Unused sick and/or personal leave
allowance, at the time of the employee’s next eligibility date, will be paid to
the employee in a lump sum calculated on the basis of the employee’s regular
rate of pay at such time.


 


ARTICLE 21


NON-COVERED
EMPLOYEES


 


Section 1.               Persons excluded from the
Bargaining Unit shall not perform work of the type customarily performed by
employees of the Bargaining Unit, except in the following situations:


 


(a)           In emergencies when employees are not
available.


 


(b)           In the bona fide instruction or
training of employees.


 


(c)           Duties of an experimental nature or
in the case of vendors or warrantees, tryouts.


 


Section 2.               When it is determined that
bargaining Unit work has been performed by a non-bargaining unit employee in
violation of Section 1, the employee in the appropriate job description with
the least amount of accumulated overtime hours will receive pay at the
applicable rate for the hours of work performed.


 


Section 3.               The Company shall notify the
Union Chairperson and/or the Committee person in the section affected prior to
the assignment of any persons excluded from the Bargaining Unit to any of the
situations listed in Section 1.


 


Section 4.               Any grievance involving
interpretation of this Article may be submitted in writing directly to Step 3.


 


ARTICLE 22


GENERAL PROVISIONS


 


Section 1.               The Company shall notify the
Union of its supervisory representatives; the Union shall notify the Company of
its Committee members operating under the Contract.


 


Section 2.               Employees will be paid equal pay
for equal work.


 


Section 3.               The Company and the Union agree
that they will not discriminate against any employee or applicant for
employment because of age, race, color, religious creed, sex, national origin,
ancestry or physical disability, disabled veterans, and veterans of the Vietnam
era.


 


Section 4.               Part time employees shall have
seniority only among other part-time employees, and shall share in monetary
benefits under the contract on a prorated basis only, with the exception of
general wage rates which they shall share fully.


 


21

















 


Section 5.               Officers, Stewards and Committee
persons of the Union shall be permitted to leave work in connection with
official Union business whenever authorized by the President or the Business
Agent of the Amalgamated Local Union, and members elected or appointed to
official Union conventions or conferences, or authorized by the Local Union to
attend any official Union functions shall be permitted to leave work for such
purposes provided permission shall be obtained in advance from the Company,
which permission will not unreasonably be withheld and provided further that
the Company shall not be liable for any pay during the period of absence.


 


Section 6.               Except as provided herein, it is
understood between the parties that there shall be no duplication of
Compensation for the same hours for any reason.


 


Section 7.               The Company and the Union agree
to institute a mutually agreeable training or apprenticeship program.


 


Section 8.               The Company shall print and
distribute copies of this contract to all Bargaining Unit employees within one
hundred twenty (120) days of the effective date of this Agreement.


 


Section 9.               The Company will offer
educational assistance to any employee with three or more years of service
under the following conditions:


 


(a)                                  Courses
must be job related and approved by Management prior to starting the program of
instruction for which payment will be made.


 


(b)                                 Courses
must be successfully passed prior to payment.


 


(c)                                  There
will be a semester limitation of assistance not to exceed $200 per individual,
effective February 1, 1992.


 


Section 10.             Bargaining unit work within the
plant shall not be sub-contracted when the work is normally and usually
performed by bargaining unit employees with appropriate equipment and qualified
employees are available, except where circumstances demand or economics warrant
it.  If such decision is based on cost,
the Company will notify and discuss with the Union as soon as possible the
reasons why it believes such action to be necessary, so the parties may explore
alternatives to such transfer of work.


 


ARTICLE 23


INSURANCE PROGRAM


 


Section 1.               Health Maintenance Organization


 


Each employee covered by
this Agreement shall have their hospital, medical, surgical, and related
insurance coverage under the Health Net Charter HMO with formulary.


 


Section 2.  The Company agrees to provide insurance
coverage as outlined in the Health Net plan description as provided to all
employees upon enrollment.  Details are
explained in the insurance contract.


 


22

















 


Section 3.               Employee Contributions


 


Effective 3/1/02 the
employee contribution will be $28.00 per week.


 


Effective 3/1/03 the
employee contribution will be $28.00 per week plus 50% of the premium increase
up to a maximum of $5.00 from the prior contribution.


 


Effective 3/1/04 the
employee contribution will be the existing contribution plus 50% of the premium
increase up to a maximum of $5.00 from the prior contribution.


 


If during the life
of the contract the projected cost of premium increases would result in an
increase of more than $5.00 above the previous year’s employee contribution,
the Company and the Union will meet to develop an alternate plan which will not
result in an increase in Company cost. 
If the parties agree on a plan which results in a lesser premium cost
the parties will share the savings.


 


If the parties do not
agree on an alternate plan, the Company and the employee will share the
increased cost of the premium on a 50%/50% basis.


 


Premium Conversion


 


Current tax laws allow us
to provide you with a tax-advantaged way to pay your share of Medical
premiums.  You may elect to contribute
toward the cost of your coverage on a pre-tax basis.  That means your premiums will be deducted from your paycheck
before Social Security, federal, and state taxes are taken out.  This lowers your taxable income and, in
effect, lowers your share of the premiums.


 


Section 4.               Accident and Sickness weekly
benefits for employees with accidents or sickness will be paid as follows:


 


2/1/02 - $245 per week


2/1/03 - $250 per
week


2/1/04 - $255 per week


 


Section 5.               The Company shall pay $30
per month per employee for dental insurance per the Local 376, UAW Dental Plan
effective February 1, 1996.


 


Section 6.               Employees who retire early may
continue their life and/or medical insurance at group rates until age
sixty-five (65).  In order to receive
retiree life paid for by the company and $50/month towards retiree medical
and/or Medicare Part B Reimbursement paid for by the Company at age sixty-five
(65), the employee must elect to carry the retiree life and/or medical
insurance until age sixty-five (65).


 


Section 7.               Employees who retired after
February 1, 1993 and before February 1, 1996 will be entitled to have
Medicare Part B paid for by the Company when they reach age sixty-five (65).  Employees entitled to receive Medicare Part B
premiums should submit a statement to the Personnel Department every six (6)
months to receive reimbursement.


 


23

















 


Employees who retire on
or after 2/1/96 are entitled to $50 per month paid for by the Company toward
both medical and/or Medicare Part B reimbursement when they reach age
sixty-five (65).


 


Section 8.               The Company will provide Life
Insurance Coverage and Accidental Death and Dismemberment Coverage in the
following amounts:


 


February 1, 2002 -
$19,000


February 1, 2003 -
$20,000


February 1, 2004 -
$21,000


 


Section 9.               The Pension Plan Monthly Benefit
shall be increased to $23.25 for employees who retire after February 1,
2002.


 


Section 10.             Survivor Income Benefit Insurance
- If you should die the Company shall pay a monthly benefit of $100 to your
spouse commencing on the first day of the calendar month following the date of
death and on the first day of each month thereafter until 24 such monthly
payments have been made. No survivor Income Benefit shall be subject in any
manner to assignment, pledge, attachment of encumbrance of any kind, nor
subject to the debts or liability of any eligible survivor except as required
by applicable law.


 


Section 11.             Prescription Safety Glasses


 


The following
prescription safety glass program is in effect for employees only:


 


	
  Expenses Covered

  
	
   

  	
   

  	
   

  
	
  Every 12 months:

  	
  Up to:

  	
   

  
	
   

  	
   

  	
   

  
	
  Lenses (per lens)

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
  Single
  Vision

  	
  $

  	
  10.00

  	
   

  
	
   

  	
   

  	
   

  
	
  Bifocal

  	
  $

  	
  15.00

  	
   

  
	
   

  	
   

  	
   

  
	
  Trifocal

  	
  $

  	
  20.00

  	
   

  
	
   

  	
   

  	
   

  
	
  Contact
  Lens

  	
  $

  	
  15.00

  	
   

  
	
   

  	
   

  	
   

  
	
  Every
  24 months:

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
  Frames

  	
  $

  	
  14.00

  	
   

  
					



 


Section 12.             Provisions Applicable to Coverage if you
cease active work because of certain specified reasons -If you cease
work because of non-occupational disability, all your coverage except insurance
for Death or Dismemberment by Accidental means and Weekly Accident and Sickness
insurance will be continued during absence due to such disability up to a
maximum of 18 months from the end of the calendar month in which you last
worked. This provision runs concurrently with your COBRA Rights.


 


Section 13.             Layoff or Leave of Absence -Your insurance
for Death or Dismemberment by Accidental Means and your Weekly Accident and
Sickness Insurance will terminate on the date you cease active work, and all
your other coverage will be


 


24

















 


continued during such lay-off up to the end of the calendar month in
which you cease work. If your lay-off continues beyond that period, you may
elect on or before the 15th day of the next calendar month to
continue all of your insurance other than your insurance for Death or
Dismemberment by Accidental means and your Weekly Accident and Sickness
insurance for not more than the next 18 months by paying the full cost of the
coverage thus continued for you. Failure to make such contribution on or before
the 15th day of any month will terminate such insurance at the end
of the last month for which payment has been made. If your are on lay-off, this
provision will run concurrently with your COBRA rights under COBRA.


 


Section 14.             What Happens to Your Insurance at Retirement
- All employees retiring under the Pension Plan, upon attaining their normal
retirement date, will receive $4,000 of life insurance.


 


If an employee retires early
under the Pension Plan and pays the required contributions for the amount of
life insurance he is entitled to as a retiree, until attainment of age 65, the
Company will then continue this amount of life insurance at no cost to the
employee.


 


ARTICLE 24


PLANT CLOSURE
AGREEMENT


 


An employee whose
employment is terminated as a direct result of the plant being closed shall
receive:


 


(a)           Separation pay in an amount equal to
$200 for each year of continuous service;


 


(b)           Any vacation benefits accrued but not
yet paid, and


 


(c)                                  The
continuation of the hospital, medical, surgical, dental and life insurance in
effect at the time of their termination for four (4) months.


 


ARTICLE 25


TERMINATION DATE


 


This Agreement shall
commence February 1, 2002 and terminate midnight, January 31, 2005.


 


This Agreement shall be
in full force and effect for a period of three (3) years from the date hereof
and for additional periods of one (1) year thereafter except that should either
party hereto intend to terminate this Agreement or modify any portion of any of
the terms hereof, it shall give written notice by certified mail to the other
party not less than sixty (60) no more than seventy-five (75) days prior to its
expiration date.


 


Should notice of
termination be given by either party as herein provided, this Contract shall
terminate as of its expiration date.


 


Should either party
hereto give the other party such written notice requesting amendment or
modification of this Agreement, such notice shall be specific as to the amendments
or modifications proposed.  Negotiations
on such proposed amendments or modifications


 


25

















 


shall begin not later
than twenty (20) days after the date of mailing of such notice.  During such negotiation, this Agreement
shall remain in full force and effect except that should negotiations extend
beyond the termination date then either party, upon ten (10) days notice to the
other in writing and by certified mail may terminate the Contract in which
event this Agreement shall terminate on the tenth day after mailing of such
notice.


 


Notice shall be in
writing and shall be sent by certified mail addressed, if to the Union, to the
International Union, United Automobile, Aerospace and Agricultural Implement
Workers or America, UAW, and Amalgamated Local 376, 30 Elmwood Court,
Newington, Connecticut and if to the Company, to The Heim Bearings Division of
Roller Bearing Company, 60 Round Hill Road, Fairfield, Connecticut, 06430.


 


 


IN WITNESS WHEREOF, the
parties hereto have caused their names to be subscribed by their duly
authorized officers and representatives this


 


INTERNATIONAL UNION,


UNITED AUTOMOBILE,
AEROSPACE


AND AGRICULTURAL
IMPLEMENT


WORKERS OF AMERICA, UAW


AND AMALGAMATED LOCAL 376


 


 


	
   

  	
   

  
	
  Wendell Askew, Chairperson

  	
   

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
   

  
	
  Antonio Pinto,
  Committee person

  	
   

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
   

  
	
  Marylou Lezinski,
  Committee person

  	
   

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
   

  
	
  Russell See, President,
  UAW 376

  	
   

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
   

  
	
  Joseph Calvo,
  International Rep. UAW

  THE HEIM BEARINGS DIVISION OF

  RBC BEARINGS

  	
   

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
   

  
	
  Ronald Lemansky,
  General Manager

  	
   

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
   

  
	
  Pam Kaczer, Human
  Resources Manager

  	
   

  



 


26

















 


MEMORANDUM OF UNDERSTANDING


 


RBC HEIM UAW BARGAINING AGREEMENT
LANGUAGE


 


RE:         TEMPORARY
EMPLOYEES


 


The Company will have the
ability to have no more than four temporary employees for up to 10 days during
the last two weeks of a production month or the first week of a following
production month to work on wrap and pack. 
Temporary employees will only be used on wrap and pack and will not be
used on overtime unless all bargaining unit employees have been offered the
overtime opportunity.  The temporary
wrap and pack jobs will be first be offered to employees on the layoff list who
have expressed interest by signing up for the temporary assignment and will be
recalled in accordance with their seniority rights.  Employees on layoff who are recalled to temporary positions will
receive pay rates as provided for in the contract wage scale.


 


In the event of extreme
circumstances, when the need for additional temporary employees may arise, the
Company will notify and discuss with the Union to reach an agreement.


 


No employee hired as a
temporary employee will be eligible for any medical, dental, disability, life
insurance or pension benefits.  Nor will
they be eligible for any holiday, sick or vacation pay benefits.


 


INTERNATIONAL UNION,


UNITED AUTOMOBILE,
AEROSPACE


AND AGRICULTURAL
IMPLEMENT


WORKERS OF AMERICA, UAW


AND AMALGAMATED LOCAL 376


 


 


	
   

  	
   

  
	
  Wendell Askew,
  Chairperson

  	
   

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
   

  
	
  Antonio Pinto, Committee
  person

  	
   

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
   

  
	
  Marylou Lezinski,
  Committee person

  	
   

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
   

  
	
  Russell See, President,
  UAW 376

  	
   

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
   

  
	
  Joseph Calvo,
  International Rep. UAW

  THE HEIM BEARINGS DIVISION OF

  RBC BEARINGS

  	
   

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
   

  
	
  Ronald Lemansky,
  General Manager

  	
   

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
   

  
	
  Pam Kaczer, Human
  Resources Manager

  	
   

  



 


27

















 


MEMORANDUM OF UNDERSTANDING


 


The Company and the Union
will establish a committee to review and evaluate work which has been
subcontracted from the Fairfield facility and consider attempting to bring back
the work if possible.  The committee
will consist of 3 representatives appointed by the Union and 2 to be appointed
by the Company.  The Company
representatives will be persons who have appropriate authority.


 


The committee will meet
on or before March 31 for a period of three months.


 


The Company agrees to
comply with the language in Article 22, Section 10.


 


 


INTERNATIONAL UNION,


UNITED AUTOMOBILE,
AEROSPACE


AND AGRICULTURAL
IMPLEMENT


WORKERS OF AMERICA, UAW


AND AMALGAMATED LOCAL 376


 


 


	
   

  	
   

  
	
  Wendell Askew,
  Chairperson

  	
   

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
   

  
	
  Antonio Pinto,
  Committee person

  	
   

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
   

  
	
  Marylou Lezinski,
  Committee person

  	
   

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
   

  
	
  Russell See, President,
  UAW 376

  	
   

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
   

  
	
  Joseph Calvo,
  International Rep. UAW

  THE HEIM BEARINGS DIVISION OF

  RBC BEARINGS

  	
   

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
   

  
	
  Ronald Lemansky,
  General Manager

  	
   

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
   

  
	
  Pam Kaczer, Human
  Resources Manager

  	
   

  



 


28

















 


MEMORANDUM OF UNDERSTANDING


 


Direct Deposit


 


Employees may have their
wages directly deposited to any participating financial institution by
enrolling between March 1 through March 31 of a calendar year.


 


 


INTERNATIONAL UNION,


UNITED AUTOMOBILE,
AEROSPACE


AND AGRICULTURAL
IMPLEMENT


WORKERS OF AMERICA, UAW


AND AMALGAMATED LOCAL 376


 


 


	
   

  	
   

  
	
  Wendell Askew, Chairperson

  	
   

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
   

  
	
  Antonio Pinto,
  Committee person

  	
   

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
   

  
	
  Marylou Lezinski,
  Committee person

  	
   

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
   

  
	
  Russell See, President,
  UAW 376

  	
   

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
   

  
	
  Joseph Calvo,
  International Rep. UAW

  	
   

  
	
  THE HEIM BEARINGS
  DIVISION OF

  	
   

  
	
  RBC BEARINGS

  	
   

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
   

  
	
  Ronald Lemansky,
  General Manager

  	
   

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
   

  
	
  Pam Kaczer, Human
  Resources Manager

  	
   

  



 


29

















 


MEMORANDUM OF UNDERSTANDING


 


The Company in
conjunction with the Union will investigate and determine if it is feasible to
create a new smoking area.


 


 


INTERNATIONAL UNION,


UNITED AUTOMOBILE,
AEROSPACE


AND AGRICULTURAL
IMPLEMENT


WORKERS OF AMERICA, UAW


AND AMALGAMATED LOCAL 376


 


 


	
   

  	
   

  
	
  Wendell Askew,
  Chairperson

  	
   

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
   

  
	
  Antonio Pinto,
  Committee person

  	
   

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
   

  
	
  Marylou Lezinski,
  Committee person

  	
   

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
   

  
	
  Russell See, President,
  UAW 376

  	
   

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
   

  
	
  Joseph Calvo,
  International Rep. UAW

  THE HEIM BEARINGS DIVISION OF

  RBC BEARINGS

  	
   

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
   

  
	
  Ronald Lemansky,
  General Manager

  	
   

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
   

  
	
  Pam Kaczer, Human
  Resources Manager

  	
   

  



 


30

















 


APPENDIX A


 


WAGE SCHEDULE 2002


 


(HIRED BEFORE 2/1/1996)


 


	
  February 4, 2002

  	
   

  	
   

  	
   

  	
   

  	
   

  	
  August 5, 2002

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  2.90% GENERAL
  INCREASE

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  



 


	
  LABOR GRADE

  	
   

  	
  BASE HIRE

  	
   

  	
  RATE

  MAXIMUM

  	
   

  	
  10 Cents
  COLA

  ADDED TO

  HIRE*MAXIMUM

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  



 


31

















 


WAGE SCHEDULE 2002


 


(HIRED AFTER 2/1/1996)


 


	
  February 4, 2002

  	
   

  	
   

  	
   

  	
   

  	
   

  	
  August 5, 2002

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  2.90% GENERAL
  INCREASE

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  



 


	
  LABOR GRADE

  	
   

  	
  BASE HIRE

  	
   

  	
  RATE

  MAXIMUM

  	
   

  	
  5 Cents
  COLA

  ADDED TO

  HIRE*MAXIMUM

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  



 


32

















 


WAGE SCHEDULE 2003


 


(HIRED BEFORE 2/1/1996)


 


	
  February 3, 2003

  	
   

  	
   

  	
   

  	
   

  	
   

  	
  August 4, 2003

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  2.75% GENERAL
  INCREASE

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  



 


	
  LABOR GRADE

  	
   

  	
  BASE HIRE

  	
   

  	
  RATE

  MAXIMUM

  	
   

  	
  5 Cents
  COLA

  ADDED TO

  HIRE*MAXIMUM

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  



 


33

















 


WAGE SCHEDULE 2003


 


(HIRED BEFORE 2/1/1996)


 


 


	
  February 3, 2003

  	
   

  	
   

  	
   

  	
   

  	
   

  	
  August 4, 2003

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  2.75% GENERAL
  INCREASE

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  



 


	
  LABOR GRADE

  	
   

  	
  BASE HIRE

  	
   

  	
  RATE

  MAXIMUM

  	
   

  	
  5 Cents
  COLA

  ADDED TO

  HIRE*MAXIMUM

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  



 


34

















 


WAGE SCHEDULE 2004


 


(HIRED BEFORE 2/1/1996)


 


	
  February 2, 2004

  	
   

  	
   

  	
   

  	
   

  	
   

  	
  August 2, 2004

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  2.90% GENERAL
  INCREASE

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  



 


	
  LABOR GRADE

  	
   

  	
  BASE HIRE

  	
   

  	
  RATE

  MAXIMUM

  	
   

  	
  5 Cents
  COLA

  ADDED TO

  HIRE*MAXIMUM

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  



 


35

















 


WAGE SCHEDULE 2004


 


(HIRED BEFORE 2/1/1996)


 


	
  February 2, 2004

  	
   

  	
   

  	
   

  	
   

  	
   

  	
  August 2, 2004

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  2.90% GENERAL
  INCREASE

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  



 


	
  LABOR GRADE

  	
   

  	
  BASE HIRE

  	
   

  	
  RATE

  MAXIMUM

  	
   

  	
  5 Cents
  COLA

  ADDED TO

  HIRE*MAXIMUM

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  



 


36

















 


STATEMENT OF EEO
POLICY


 


It is the policy of Heim Bearings
and the UAW to uphold and maintain a continuing nondiscriminatory “Equal
Employment Opportunity” policy.  Our
goal shall be a realistic attempt to insure genuine equal opportunity, in every
sense of its meaning, in every operational area.


 


“Equal Employment
Opportunity” will be maintained for all present employees, as well as
applicants applying for positions with this company, through the following
Corporation policy:  “It is the policy
through a positive and continuing program, to provide equal opportunity in
employment for all qualified persons, to prohibit discrimination in employment
because of age, race, creed, color, sex, handicap, national origin, disabled
veterans and veterans of the Vietnam era, and to promote the full realization
of equal employment opportunity.  The
program also extends to and encompasses the providing of equal opportunity in
employment for all qualified personnel without regard to politics or marital
status.


 


It is our intent to
incorporate a strong EEO policy throughout virtually every personnel activity
or function to assure full utilization of all available human resources and to
review these policies on a semi-annual basis.”


 


37

















 


EXHIBIT B


 


Summary Plan
Description


 


HEIM BEARINGS


 


Hourly Payroll
Retirement Plan


 


A Defined Benefit Plan
for Hourly Employees of Heim Bearings represented by the International Union,
United Automobile Aerospace and Agricultural Implement Workers of America,
U.A.W., and Amalgamated Local 376, U.A.W.


 


Amended Effective
February 1, 1992


 


38

















 


HEIM BEARINGS


 


HOURLY PAYROLL
RETIREMENT PLAN


 


Introduction


 


This contract describes
the provisions of the Heim Bearings Hourly Payroll Retirement Income Plan, which
is a Defined Benefit Pension Plan, established on August 15, 1956, for the
employees of Heim on its hourly payroll. 
The Plan was established primarily to provide these employees with  retirement income in addition to their
Social Security benefits.  The Plan
offers retirement or total disability, and can provide benefits to their
surviving spouses or other beneficiaries.


 


The retirement benefits
provided under this Plan are funded through a Trust Agreement held with the
Frank Russell Company, 909 A Street, Tacoma, WA 98402, (206) 572-2282.  The Paying Agent is and the payments are
made through State Street Bank, P.O. Box 1389, Boston, MA 02104.


 


This contract represents
your “Summary Plan Description” (SPD) and is only a summary of the legal text
of the Plan.  In the event of any
discrepancy between the language of this summary and the language of the legal
text, the language in the legal text shall govern.  You should read this summary carefully in order to develop a
thorough understanding of the basic concepts of your retirement plan.  If, after reading the summary you have any
questions concerning your Plan, you should contact your Human Resource Office.


 


This booklet is prepared
in a question and answer format; the questions answered here are the ones most
frequently asked of our Human Resource Office.


 


Special Terms


 


Certain terms used
throughout this booklet have special meanings for the purpose of t his
Plan.  The second section of the legal
text of the Plan defines these terms in detail.


 


Generally, a term which
begins with a capital letter in this booklet has a specialized meaning.  Some of the terms to watch for in the
summary are:


 


Actual Retirement Date –
the date on which an employee actually retires from the Company.


 


Company – Heim Bearings.


 


Normal Retirement Date –
the first day of the month in which the employee attains or would attain his 65th
birthday.


 


Board – The Joint Board
of Administration


 


Important


 


This summary describes
the Plan as amended effective February 1, 1992.  Employees who were terminated prior to that date may not be
eligible for certain of the benefits or payment options described in this
summary.  Those former employees should
contact the Human Resource Office to see if their situation could allow them to
be covered by any of the Plan’s benefits.


 


This summary does not
constitute a contract of employment nor does it in any way influence incidence
of employment.


 


39

















 




	
  Details about:

  	
   

  
	
  May be found on
  page:

  	
   

  
	
  Eligibility
  to Participate

  And effective date of participation

  	
  4

  
	
  Amount
  of Benefits

  	
  4

  
	
  Normal Retirement

  	
  5

  
	
  Early
  Retirement

  	
  6

  
	
  Disability
  Retirement

  	
  7

  
	
  Form
  of Payments

  	
  8

  
	
  Benefits in the
  Event of Death

  	
  11

  
	
  Vesting
  and Credited Service

  	
  13

  
	
  Loss of
  Benefits

  	
  15

  
	
  Claim
  Procedure

  	
  17

  
	
  Other Facts

  	
  22

  
	
  Contributions
  to the Plan

  	
  22

  
	
  Administration

  	
  23

  
	
  Plan
  Benefits Insured

  	
  23

  
	
  Names and Addresses

  	
  24

  
	
  ERISA

  	
  24

  
	
  Table I Early Retirement Factors

  	
  27

  
	
  Table II 10 Year Certain
  Factors

  	
  28

  






 


HEIM HOURLY PAYROLL


RETIREMENT
INCOME PLAN


 


Does this Plan apply to me?


 


This Plan covers all
employees on Heim’s hourly payroll who are members of the Union.  If you were such an employee on or after
August 15, 1956, you are automatically a participant in this plan.


 


When
do I become eligible to receive retirement benefits?


 


The Plan provides for the
payment of retirement benefits at age 65, your normal retirement date.  If a participant continues to work beyond
age 65, he will continue to accrue pension credit for service.


 


You may also retire as
early as age 55, if you have at least 10 years of Vesting Service (described on
page 13.)  In addition, if you have at
least 10 years of Vesting Service and you become totally and permanently
disabled, you will be entitled to receive a disability benefit.


 


How much
can I receive?


 


At Normal Retirement


 


This is the retirement
benefit normally provided to an employee who reaches age 65.  To figure out the amount of the normal
retirement benefit you will receive, multiply your years and fractions of years
of Credited Service (described on page 15) by $23.25*.  This amount is the monthly retirement
benefit you would receive as an unmarried employee retiring form active
employment, or a married employee if your spouse elected not to receive the
Joint and Survivor Benefit (see Joint and Survivor Benefit on page 8.)


 


Example:    
Your Age = 65


Your Credited
Service = 20 years


 


Effective 2/1/02 the
benefit was increased to $23.25


 


40

















 




	
  Per Month
  Benefit  

  	
  X

  	
          Credited
  Service = Your Age 65 Monthly Lifetime Only Benefit

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  $23.25

  	
  X

  	
  20 years =

  	
  $465.00

  	
   

  	
   

  	
   

  






 


If you are married on
your Normal Retirement Date, you will automatically receive the Joint and
Survivor Benefit unless your spouse waives their right to this benefit.


 


Early Retirement
Benefit


 


If you have at least 10
years of Vesting Service and you are at least 55 years old but not yet 65, you
may take early retirement by submitting a retirement application (obtained from
the Human Resource Office) to the Company. 
Your early retirement date will be the first day of the month you select
to take early retirement.  To figure
your early retirement benefit, if you an unmarried employee, multiply your
years and fractions of years of Credited Service you will have as of your early
retirement date by $23.25 and then reduce this figure by one-half percent
(1/2%) for each month by which your early retirement date precedes your Norman
Retirement Date.


 


Example:  Your Age = 62


   Your Credited Service


 


	
  Per Month Benefit

  	
   

  	
  Credited
  Service

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
  $

  	
  23.25

  	
   

  	
  20 Years

  	
   

  
					



 


	
  Early Retirement

  Factor

  (from Table 1)

  	
   

  	
  Your Age 62

  Lifetime Only

  Monthly Benefit__

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
  82

  	
  %

  	
  $

  	
  381.30

  	
   

  
					



 


If you are married on
your early retirement date, your early retirement benefit will be computed in
accordance with the Joint and  Survivor
Benefit unless your spouse waives their right to receive this benefit.


 


If you do not wish to
have your early retirement benefits begin right away, you may specify the date
on which you may want the benefits to begin (up to your Normal Retirement
Date); your early retirement benefits would then be increased by one-half
percent (1/2%) for each month (six percent (6%) per year) that you defer
receipt of your benefits (See Table 1).


 


Disability Benefit


 


If you have at least 10
years of Vesting Service, are totally and permanently disabled, and the Social
Security Administration has approved your application for disability benefits
under the Federal Social  Security Act,
you will be entitled to receive a Disability Benefit.  Your Disability Benefit will be computed in the same was as if
you were unmarried and about to retire — your years of Credited Service times
$23.25.  You should note that the Joint
and Survivor Benefits does not apply to Disability Benefits payable to you
before you attain age 55.  In addition,
you will not receive any additional Credited Service while Disability Benefits
are being paid.


 


You are considered to be
“totally and permanently disabled” when you have demonstrated that you are
unable to engage in any regular employment for the Company and the Social
Security Administration has issued a determination letter indicating that by
reason of your disability you are entitled to receive disability benefits under
the Federal  Social Security Act.  Also you will not be considered totally
disabled if your disability is the result of chronic alcoholism, addiction to
narcotics, intentionally self-inflicted injury or the commission of any act
which results in the conviction of a felony.


 


41

















 


Once you start receiving
Disability Benefits you may be required to take a physical examination as often
as twice a year to prove you are still permanently disabled.  If you fail to take the examination as
requested by the Company, your Disability Benefits will stop and will not begin
again until you do take the physical and reapply for benefits.  Disability Benefits will also be stopped if
it is found you have recovered or that you have taken another job for wage or
profit.  If your total disability
continues until you reach age 65, your Disability Benefits will stop at that
time and you will begin receiving the Normal Retirement Benefit.


 


If your disability is
overcome and your return to work at Heim, you will not lose any of your
previous Credited Service.  Also, you
start adding additional Credited Service when you start working for the Company
again.


 


How are benefits paid?


 


The Plan provides for
your choice of the following monthly payment forms:


 


Joint and Survivor
Benefits


Single Life Benefit


Joint Annuitant Benefit


Ten Year Certain and Life
Option


Post-Retirement Joint and
Survivor Benefit


 


The Joint and Survivor
Benefit is the usual form of benefit paid to a married participant upon his
retirement.  If you should die after
retirement, this form of retirement benefit provides a continuing benefit for
your spouse.


 


If you are married as of
the date you retire (whether you retire on your Late Retirement Date, Normal
Retirement Date, or take early retirement), you will automatically receive the
Joint and Survivor Benefit unless your spouse waives their right to it.  The Joint and Survivor Benefit will be 85%
of your monthly retirement benefit and your spouse would then be entitled to
55% of that reduced amount.


 


Example:   Age of
Employee = 65


Age of Spouse = 65


Credited Service = 20 years


 


	
  Your
  Lifetime

  Only Benefit

  	
   

  	
  Joint and Survivor

  Benefit Factor

  	
   

  	
  Your Age 65

  Benefit

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  $

  	
  465.00

  	
   

  	
  X 85%

  	
   

  	
  $

  	
  395.25

  	
   

  
								



 


You would receive $395.25
per month from the pension plan for the rest of your life.  After your death, your spouse would receive
fifty-five percent (55%) or  $217.39 per
month for the rest of his/her life.  The
reason for your benefit reduction is to cover the cost of providing for the
continuing benefit to your spouse.


 


You may elect not to
receive this benefit.  If you wish to
make this election, you and your spouse must sign the Joint and survivor Benefit
form which will be provided to you by the Personnel Office and this election
may be made at any time after you become eligible to retire but before your
Actual Retirement Date.  If you elect to
receive the Single Life Benefit as described below in place of the Joint and
Survivor Benefit, your normal retirement benefit will not be reduced.   However, upon your death, your retirement
benefits will cease and your surviving spouse would not be entitled to any
benefits from the Plan.  Prior to your
becoming eligible for normal retirement, you will be contacted by the Company
and reminded about the Joint and Survivor Benefit and of your right to elect
not to receive it.


 


42

















 


If you take no action,
the Joint and survivor Benefit will automatically be paid to you.  If you are considering early retirement, the
Joint and survivor Benefit information will be provided to you by the Human
Resources Office upon your request.


 


Single Life Benefit


 


A.           This
is the form of retirement benefit which will be payable to you if:


 


1.               You
are unmarried at your retirement, or


2.               You
have elected not to receive the Joint and Survivor Benefit, or


3.               You
have elected not to designate a Joint Annuitant under the Joint Annuitant
Benefit as described below, or 


4.               You
have not elected the 10 Year Certain Option.


 


B.             The
Single Life Benefit, as its name indicates, will be paid to you for your
lifetime and will be discontinued at the time of your death.


 


Joint Annuitant Benefit


 


This optional form of
retirement benefit provided for a continuing portion of your retirement benefit
to be paid to another person or if you are married but do not wish to provide
the Joint and Survivor Benefit to your spouse, you may designate any person to
receive a benefit upon your death after normal retirement.  Please note, however, that this option is
only available to you if you retire at or after  your Normal Retirement Date (age 65).  In addition, the Company must be notified and this option must be
applied for no later than two (2) years before you reach your Normal Retirement
Date.  If this election is filed after
the date indicated above, then satisfactory evidence of your good health must
be furnished at the time you file for this option.


 


The Joint Annuitant
Benefit works in the same way as the Joint and Survivor Benefit.  You will receive a lower monthly benefit
during our retirement and upon your death, the person you name, who is called
your “Designated Beneficiary”, will receive fifty five percent (55%) of your
reduced benefit for his or her lifetime upon your death.


 


If you decide to elect
the Joint Annuitant Benefit, you cannot also provide a Joint and Survivor
Benefit for your spouse nor can you have the Single Life Benefit.  You may, however, elect to provide for the
10 Year Certain Option, described below, and in addition to a Joint Annuitant
or Joint and Survivor Benefit.


 


10 Year Certain and Life
Option


 


This optional form of
retirement benefit provides that you may take a reduced monthly benefit which
would be paid to you for the rest of your life, with the further provision that
if you die before receiving 120 monthly retirement benefits, the balance of any
remaining monthly benefits would be paid to your Designated Beneficiary.  Thus, if you die 12 months after you retire,
another 108 monthly benefit payments will be 
made on your account to your beneficiary.  Please note, however, this option is only available to you if you
retire at or after your Normal Retirement Date.  In addition, the Company must be notified and this option must be
applied for no later than two (2) years before you reach your normal retirement
date.  If this election is filled after
the date indicated above, then satisfactory evidence of your good health must
be furnished at the time you file for this option.


 


What
Happens in the Event of My Death?


 


Death Prior to Retirement


 


43

















 


If you have completed
five (5) or more years of Vesting Service and you should die, your surviving spouse
will receive a Pre-Retirement Joint and Survivor Benefit.  This benefit would be payable immediately if
you are age 55 and have (10) years of credited service or, this benefit will be
payable at the time you would have attained age 55 if you had lived.  At the time of your death, your benefit will
be calculated as if you had decided to retire immediately before our death and
were to receive the Post-Retirement Joint and Survivor Benefit.


 


Example:  Age Employee = 64


Age Spouse      = 64


Your Credited Service =
20 years


 


	
  Your Benefit

  (Lifetime Only)

  	
   

  	
   

  	
   

  	
  Early
  Retirement Factor

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  $

  	
  325.00

  	
   

  	
  X

  	
   

  	
  94%    =
  $305.50

  	
   

  
							



 


	
  Spouse Benefit

  Factor

  	
   

  	
   

  	
   

  	
  Your Age
  64

  Benefit

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  85

  	
  %

  	
   

  	
   

  	
  $

  	
  259.68

  	
   

  
							



 


You would have received a
benefit of $259.68 per month if you had retired on the day of your death.  Your spouse is entitled to fifty-five
percent of that amount, or $142.82 per month after your death at age 64.


 


If, however, you have not
met the basic requirements of 5 years of Vesting Service, then upon your death
prior to retirement, no retirement benefits will be payable.


 


Death After Retirement


 


Your surviving spouse or
beneficiary’s right to receive retirement benefits upon your death after
retirement are as explained previously. 
Provided you are receiving the Joint and Survivor Benefit, this benefit
would automatically commence to be paid to your surviving spouse or your
Designated beneficiary upon your death. 
In addition, should you have any benefits available under the 10 Year
Certain and Life Option, these benefits would be paid to your surviving spouse
or beneficiary.


 


What Happens if I Become Divorced or
My Spouse Should Die?


 


If you should become
divorced prior to retirement, your ex-spouse would not be eligible for any
benefits under the Pre-Retirement Joint and Survivor Benefit.  If upon retirement you are married on your
Actual Retirement Date and you were receiving the Post Retirement Joint and
Survivor Benefits, and subsequently you became divorced, your ex-spouse would
still be entitled to the Joint and Survivor Benefit upon your death.  If you divorce became final or if your
spouse were to die before your Actual Retirement Date, you would be treated as
an unmarried retiree and you would receive the Single Life Benefit rather than
the reduced Post-Retirement Joint and Survivor Benefit.


 


If you become married
after your Benefit Commencement Date, you will not be eligible for the
Post-Retirement Joint and Survivor Benefit and no benefit will be payable to
your new spouse upon your death, unless your new spouse is your beneficiary
under the 10 Year Certain and Life Option and benefits are still available
under this form of payment.


 


44

















 


What is the Difference between Vesting Service and Credited
Service?


 


Your employment service
with the Company is used to measure your fulfillment or certain of the Plan’s
requirements for eligibility for benefits and the amount of your benefits.


 


Vesting Service


 


Vesting Service is used
to determine your right to receive a retirement benefit.  A year of Vesting is any calendar year in
which you have received credit for 1,000 or more Hours of Service.  An “Hour of Service” is any hour for which you
were paid by the company for the performance of duties, and also includes absence
from work for any of the following reasons:


 


1.               Absence
from work, up to a maximum of two (2) years, because of a work-related injury
or disease during which Workers’ compensation benefits are paid and during
which you would have been normally scheduled to work for the Company;


2.               A
period of layoff, up to a maximum of twelve (12) months, unless you fail to
return to work upon recall;


3.               Any
temporary illness in which you receive compensation under a Company disability
program, provided you have worked at least 170 hours in the year in which you
became ill;


4.               Absence
for paid vacations or paid holidays not worked;


5.               Any
absence so credited under rules adopted by the Board.


 


The Hours of Service
granted under the above conditions are pro-rated at the rate of 8 hours per
day, 40 hours per week, and 174 hours per month, assuming you normally would
have been scheduled to work during these absences.  If you have earned less than 1,000 Hours of Service in a calendar
year, Vesting Service is earned at the rate of 1/12th of a year for
the first 40 hours and 1/12th of a year for each 80 hours after
that.  Only 1,000 hours are counted for
a year of Vesting Service, even though you may work more than 1,000  hours in a particular year.


 


“Vesting” is a form of
ownership or right to receive a retirement benefit.  You become vested in your retirement benefits after completing 5
years of Vesting Service with the Company.


 


Credited Service


 


Credited Service is used
to determine the amount of retirement benefits you will receive.  A year of Credited Service is a calendar
year in which you are credited with 1,700 total compensated hours.  All hours of work at a premium rate will be
computed as straight-time hours.  In
addition, you will also receive Credited Service for the following reasons:


 


1.               Absence
from work because of vacations or because of a work-related injury or disease
during which Workers’ Compensation benefits are paid up to a maximum of two (2)
years and during which you would have been normally scheduled to work for the
Company.


 


2.               Absence
from work pursuant to an excused absence granted under the collective
bargaining agreement with the Union.


 


3.               Active
service with the Armed Forces of the United States if you return to work within
90 days of your discharge and if your re-employment rights are protected by any
Federal law then in effect which relates to military service and re-employment.


 


Have There Been Any Changes in
Service?


 


Yes.  As noted above, a new term called “Vesting
Service” has been added to the Plan. 
Prior to January 1, 1976, if you were a participant in this Plan,
you received 1/10th of a year of Vesting Service for each month of
Credited Service that you earned beginning with your most recent hire date
prior to January 1, 1976.  Service
after January 1, 1976 in which you complete 1,000 Hours


 


45

















 


of Service will be
considered a full year of Vesting Service. 
Service awarded under these circumstances will be rounded to the nearest
1/12th of a year.


 


Can I Lose My Benefits if I am not Vested?


 


Yes.  If you are not vested when you leave the
Company, you will not receive any benefits from the Plan.  Therefore, if you have less than 5 years of
Vesting Service and you do not return to work with the Company, you would lose
all of the service that you had earned up 
until the date of your termination. 
However, if you return to work with the Company within a certain time
period, your previous service can be counted.


 


Once you have 5 years of
Vesting Service, terminate from the Company and subsequently return to work,
all future service would be added to your previous service.  If does not 
matter how long you may have been away from the Company provided you had
5 years of Vesting Service at the time of your termination.


 


What Happens If I Reach
My Normal Retirement Date Before I have Completed Five Years of Vesting
Service?


 


Any participant who
reaches age 65 is automatically considered to be vested in whatever retirement
benefits he or she had accrued up to that point.  Therefore, if you had become employed by the Company after
attaining age 55 but prior to age 60 and worked until you reached age 65, you
would be eligible for a retirement benefit based on your years of Credited
Service.  Employees hired after age 60
are not eligible to join the plan.  You
would not be eligible, however, to take early retirement as you would not have
the required minimum 5 years of Vesting Service.


 


If I Have Five Years of
Vesting Service and I Quit or I Am Terminated, What Happens to My Retirement
Benefits?


 


If you have become vested
(5 years of Vesting Service) and then you are terminated or you quit, the
Company will hold your accrued benefit until your Normal Retirement Date.  If you had 10 years or more of Vesting Service,
you may elect an early retirement benefit between the ages of 55 and 65, with
reduced benefit payments beginning at any time prior to age 65 as elected by
you.  If you have a spouse at the time
your benefits commence, the Post-Retirement Joint and Survivor Benefit will be
automatically paid unless you elect not to receive this form of benefit
option.  The Pre-Retirement Joint and
Survivor Benefit is not available to terminated employees.


 


How
Do I Claim a Benefit?


 


All benefit applications
(“claims”) are made by completing the retirement application form which is
available from your local Human Resources Department.  The Human Resources Department will provide you with any help you
may need in completing the form and explain all options that are available to
you.  Please be sure you have completed
the form accurately; if the wrong information is provided, this could cause a
delay in processing your claim.


 


Your claim will be
reviewed and either approved or denied within 90 days after the date of
submission.  In certain cases the Board
may require more time to review your claim. 
If such is the case, you will receive a notice stating that more time is
needed and identifying the reasons why. 
The Board may require up to an additional 90 days to approve or deny a
particular claim.


 


It is the intent of the
Board and the Company to respond to all claims within the 90-day period.  If for some reason, however, you did not
receive a notice of approval or denial of your claim or a notice indicating that
more time is needed, the law permits you to assume that your claim has been
denied and to proceed with a request for a review of the denial.  To save time, however, we


 


46

















 


suggest that before you
do request a review, you contact your Human Resources Department to see if your
claim has actually been denied or it is being held up for some other reason.


 


What If My Claim Is
Denied?


 


If your claim to a
benefit is denied in whole or in part, you will receive a written notice informing
you of the denial.  The notice will
state the specific reasons for denial and will refer to specific Plan
provisions which caused the denial.  In
addition, the notice will state whether additional information is needed to
complete this claim and if so, why that additional information is
necessary.  Finally, the notice will
tell you what steps must be taken in order to request a review of the denied
claim.  Generally, to request a review
of the denied claim, you must submit a written request of the Board within 60
days after receipt of the denial notice.


 


If a request for a review
of a denied claim is not made within 60 days of the receipt of the denial
notice, you shall be deemed to have waived your right to a review.


 


The Board will re-examine
the denied claim, taking into consideration any additional information which
you may provide in support of your claim. 
You will receive a response to your request for a review within 60 days
after your request is received by the Board.


 


Again, if more time is
needed to review your claim, you will receive a notice stating that more time
is needed and identifying the reasons why such additional time is needed.  The Board may require up to an additional 60
days to make a final decision on the review of a previously denied claim.


 


If, after the receipt of
the decision of the Board you are still not satisfied with the decision
rendered, you should contact the Human Resources Department.


 


The Human Resources
Department will conduct a review of the claim and may contact the Board, you,
the Trustee or any other person or persons as necessary to obtain information
concerning the claim.  The Committee
will inform you in writing of the final decision which has been reached within
30 days following the receipt of the review of the appealed decision (unless
more time is required), in which case you will be notified that extra time is
required.


 


May I See the Actual
Plan?


 


Yes.  If you need more detail and technical
information about this Plan, you may request an opportunity to examine the
legal papers used in maintaining and reporting the Plan.  These papers are called the Plan
Documents.  You may purchase copies of
the documents if you wish.


 


May I Change My
Mind?


 


If for some reason after
you have made a benefit application you wish to revoke an election made under
the Plan, you may do so prior to your Actual Retirement Date.  For example, if you named your sister as
your beneficiary for the Joint Annuitant Benefit and your sister as your
beneficiary for the Joint Annuitant Benefit and your sister dies, you can name
another beneficiary as long as  you have
not begun to receive your payment.  Your
Actual Retirement Date is the cutoff date; no changes in any elections can be
made after that date except that you may change your beneficiary under the
10-year Certain Option.  Thus, if the
Joint and Survivor Benefit or the Joint Annuitant Benefit is in effect and your
beneficiary or spouse dies before you do, you will continue to receive the reduced
payments even though your beneficiary or spouse can never receive any benefits.


 


Are There Any Waiting Periods for My
Election?


 


Yes.  If you make an election or change an
election for the Joint Annuitant Benefit or the 10-Year Certain, your election
must be made in writing and filed with the Company no later than two years


 


47

















 


prior to your Normal
Retirement Date.  If such an election is
made within two years of your Normal Retirement Date, you will be required to
furnish the Company satisfactory evidence of your good health.


 


Other Facts You
Should Know


 


Who
Pays for All This?


 


The Company pays for the
entire cost of this Plan.  The amount of
the Company’s contribution to the Trust Fund is actuarially determined.


 


Administration
of the Plan


 


The Company has the
overall responsibility for the operations of the Plan.  These persons have the power to delegate
authority for certain parts of the Plan to other persons.


 


Plan
Benefits Are Insured


 


Benefits under this Plan
are insured by a federally established corporation called the Pension Benefit
Guaranty Corporation (PBGC) if the Plan terminates.  Generally, PBGC guarantees most vested normal retirement
benefits, early retirement benefits and certain disability and survivor’s
benefits.  However, PBGC does not
guarantee all types of benefits and the amount of benefit protection is subject
to certain limitations.


 


The PBGC guarantees
vested benefits at the level in effect on the date of Plan termination.  However, if retirement benefits have been increased
within five years prior to the Plan termination, the whole of the Plan’s vested
benefits or the benefit increases may not be guaranteed.  In addition, there is a ceiling on the
amount of monthly benefit the PBGC guarantees which is adjusted periodically.


 


For more information on
the PBGC insurance protection and implementations, ask the Board or the
PBGC.  Inquiries to the PBGC should be
addressed to the Office of Communications, PBC, 2020K Street, N.W., Washington,
D.C. 20006.  The PBGC Office of Communications
may also be reached by calling 202-254-4817.


 


Names and Addresses You Should Know


 


The Plan Administrator
is:  RBC Heim Bearings, 60 Round Hill
Road, Fairfield, CT 06430, telephone (203) 255-1511.


 


The Trustee of the Plan
is:  Frank Russell Trust Company, 909 A
Street Tacoma WA 98402, (206) 572-2282.


 


The Paying Agent is:  State Street Bank, Retirement Investment
Services, P.O. Box 1389, Boston, Massachusetts 02104-1389


 


The agent for services of
legal process is:  RBC Corporate
Offices, 60 Round Hill Road, Fairfield, CT 06430, (203) 255-1511.


 


Legal process may also be
served on the board of the Trustee at the appropriate address, as indicated
above.


 


The employer
identification number is 21-073351, which number identified the Company to the government.  The Plan number is 047 which identifies the
Plan to Heim and to the government.  Any
correspondence concerning the Plan should always include those two numbers.


 


48

















 


Your
Rights Under ERISA


 


The following statement
is required by regulations released under the Employee Retirement Income
Security Act of 1974 (ERISA).


 


As a participant in the
Hourly Payroll Retirement Income Plan, the Heim Bearings Hourly Pension Plan,
you are entitled to certain rights and protections under ERISA.  ERISA provides that all Plan Participants
shall be entitled to:


 


Examine, without charge,
at the office of the Plan Administrator, and at other specified locations, such
as local Personnel Offices, all Plan Documents, including trust agreements
insurance contracts and copies of agreements, insurance contracts and copies of
all documents filed by the Plan with the U.S. Department of Labor, such as
detailed annual reports and plan descriptions;


 


Obtain copies of all Plan
Documents and other Plan information upon written request to the office of the
Plan Administrator (the Plan Administrator may make a reasonable charge for the
copies);


 


Receive a summary of the
Plan’s annual financial report.  The
Plan Administrator is required by law to furnish each participant with a copy
of this Summary Annual Report (“SAR”), and;


 


Obtain a statement
telling you whether you have a right to receive a pension at normal retirement
age(65) and if so what your benefits would be at that age if you were to stop
working under the Plan now.  If you do
not have a right to a pension, the statement will tell you haw many more years
you  have to work to get a right to a
pension (become “vested”). This statement must be requested in writing and is
not required to be given more than once a year.  The Plan must provide the statement free of charge.


 


In addition to creating
rights for Plan Participants (ERISA) imposes duties upon the people who are
responsible for the operation of the employee benefit plans.  The people who operate your Plan, called
“fiduciaries” of the Plan, have a duty to do so prudently and in the interest
of your and other Plan Participants and beneficiaries.  No one, including your employer, or any
other person may fire you or otherwise discriminate against you in any way to
prevent you from obtaining a pension benefit or for exercising your rights
under ERISA.


 


If your claim for a
pension benefit is denied, in whole or in part, you must receive a written
explanation of the reason for the denial. 
You have the right to have the Plan Administrator review and reconsider
your claim.


 


Under ERISA, there are
steps you can take to enforce the above rights.  For instance, if you request materials from the Plan and you do
not receive them within 30 days, you may file suit in federal court.  In such a case, the court may require the
Plan Administrator to provide the materials and pay you up to $100 a day until
you receive the materials, unless the materials you requested were not sent to
you because of reasons beyond the control of the Plan Administrator.  If you have a claim for benefits which is
denied in whole or in part, you may file suit in a state of federal court.  If is should happen that Plan Fiduciaries
misuses the Plan’s money, or if you are discriminated against for asserting
your rights, you may seek assistance from the U.S. Department of Labor, or you
may file suit in a federal court.  The
court will decide who should pay court costs and legal fees.  If you are successful, the court may order
the person you have sued to pay these costs and fees.  If you lose, the court may order you to pay those costs and
fees.  For example, if it finds your
claim is frivolous.  If you have any
questions about your Plan you should contact your local Human Resources Office
of the Office of the Plan Administrator. 
If you have any questions about this statement or about your rights
under ERISA, you should contact the nearest Area Office of the U.S.
Labor-Management Services Administration, Department of Labor.


 


49

















 


Before You Go


 


We urge you to again read
this Summary Plan Description which describes highlights of your retirement
income plan.  It is important for you to
know what to expect when you approach retirement age.  The time to understand your Plan is now, before you need it.


 


If, after reading this
booklet you still do not understand the benefits you may receive from the Plan,
contact your Human Resources Office for assistance.  The Human Resources Office can either answer your questions or
help you find the information you need. 
You will be informed of any changes in the Plan  which could affect your benefits.  Subject to the provisions of the Plan, the
Company reserves the right to amend or terminate this Plan at any time.


 


50

















 


TABLE
I


 


HEIM HOURLY PAYROLL


RETIREMENT PLAN


EARLY RETIREMENT FACTORS


(Applied to the Accrued
Benefit at Date of Early Retirement)


 




	
  Age at Early Retirement

  	
   

  	
  Factor

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
  55

  	
   

  	
  40

  	
   

  
	
  56

  	
   

  	
  46

  	
   

  
	
  57

  	
   

  	
  52

  	
   

  
	
  58

  	
   

  	
  58

  	
   

  
	
  59

  	
   

  	
  64

  	
   

  
	
  60

  	
   

  	
  70

  	
   

  
	
  61

  	
   

  	
  76

  	
   

  
	
  62

  	
   

  	
  82

  	
   

  
	
  63

  	
   

  	
  88

  	
   

  
	
  64

  	
   

  	
  94

  	
   

  
	
  65

  	
   

  	
  100

  	
   

  






 


The above factors would
be increased or decreased by one half percent (1/2%) per month depending on the
age in months and years of the retiree.


 


51

















 


TABLE
II


 


Factors to Convert
Pension Payable Under Normal Form (Single Life Benefit) to a 10 Year Certain
and Life Option.


 




	
  Age

  	
   

  	
  Male

  	
   

  	
  Female

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  55

  	
   

  	
  .972

  	
   

  	
  .987

  	
   

  
	
  56

  	
   

  	
  .969

  	
   

  	
  .985

  	
   

  
	
  57

  	
   

  	
  .966

  	
   

  	
  .983

  	
   

  
	
  58

  	
   

  	
  .962

  	
   

  	
  .981

  	
   

  
	
  59

  	
   

  	
  .958

  	
   

  	
  .979

  	
   

  
	
  60

  	
   

  	
  .953

  	
   

  	
  .977

  	
   

  
	
  61

  	
   

  	
  .948

  	
   

  	
  .973

  	
   

  
	
  62

  	
   

  	
  .942

  	
   

  	
  .970

  	
   

  
	
  63

  	
   

  	
  .935

  	
   

  	
  .965

  	
   

  
	
  64

  	
   

  	
  .928

  	
   

  	
  .961

  	
   

  
	
  65

  	
   

  	
  .919

  	
   

  	
  .955

  	
   

  
	
  66

  	
   

  	
  .909

  	
   

  	
  .949

  	
   

  
	
  67

  	
   

  	
  .898

  	
   

  	
  .942

  	
   

  
	
  68

  	
   

  	
  .887

  	
   

  	
  .933

  	
   

  
	
  69

  	
   

  	
  .874

  	
   

  	
  .922

  	
   

  
	
  70

  	
   

  	
  .860

  	
   

  	
  .910

  	
   

  






 


52