PROTECTION IN CASE OF TERMINATION (FOR REASON OTHER THAN A SERIOUS MOTIVE, I.E. OTHER THAN FORCAUSE)

EX-10.40 24 dex1040.htm DOMTAR SEVERANCE POLICY FOR SENIOR EXECUTIVES Domtar Severance Policy for Senior Executives

Exhibit 10.40

PROTECTION IN CASE OF TERMINATION

(FOR REASON OTHER THAN A SERIOUS MOTIVE, I.E. OTHER THAN FOR CAUSE)


	*Management Committee*	*Other members of Senior* *Management*
*Indemnity*	24 months	The highest of 12 months or as per current policy

*Bonus*	None if employee is unactive as at December 31

*Stock options*	Vested options – 60 days Unvested options – cancelled Retirement – see proposed new policy

*Fringe benefits*	Period equal to indemnity (disability excluded) or until new employment

*Car*	6 months or until new employment	3 months or until new employment

*Re-assignment Program*	Program as per position level

*Retirement*	Supplementary Pension Program (Top Hat 1 and/or Top Hat II as applicable)	Supplementary Pension Program (Top Hat II)