Page 93 - NWF November Updates

Benefits

What are the severance benefits for job eliminations and reductions in force?

Two (2) weeks regular salary for each full year of service up to a maximum of twenty four (24)
weeks’ severance. Employees with six (6) months or more of service but less than one (1) year
will receive two (2) weeks of severance. If applicable, health and dental coverage will be
extended during the duration of the severance period for the elections that were in place at
the time of separation, unless the employee is provided with insurance benefits through a
new employer or through a dependent.

NWF may waive or modify, for individual employees or one or more classes of employees, the
eligibility requirements for severance benefits or modify the method of calculating their
service benefit.

What if an employee is terminated for cause?
The benefits for employees terminated for cause are paid as above but the maximum benefit
is four (4) weeks regular salary regardless of the number of years of service or grade level.

What if an employee is terminated for gross misconduct?

No benefits are paid for employees terminated for gross misconduct.

How is "regular salary" defined?
For purposes of the Plan, "regular salary" is defined as the employee's weekly wage at the

time of termination, excluding overtime or other payments. A year of service runs from the
date of employment to the same date the following year and each anniversary date of
employment thereafter.

What is the effect on other benefits during the severance period?
Except for continued health and dental coverage, all employee benefits shall terminate as of

the employee's last day of work, which shall be the official date of termination in NWF's
records.

How will severance benefits be paid?

Severance payments are paid in a lump sum within 20 days of termination, on the first
regularly scheduled payday following the Effective Date of the signed Agreement. Payments
for accrued Vacation are paid on the payday that includes payment for the employee's last
day of work.

Who pays the cost of the Severance Plan?

The severance plan is non-contributory with all costs paid by NWF out of the general assets of
NWF.