FIRST AMENDMENT TO UNITED CONTINENTAL HOLDINGS, INC. PROFIT SHARING PLAN (2014)
Exhibit 10.2
FIRST AMENDMENT TO
UNITED CONTINENTAL HOLDINGS, INC.
PROFIT SHARING PLAN (2014)
WHEREAS, United Continental Holdings, Inc. (the Company) sponsors the United Continental Holdings, Inc. Profit Sharing Plan (the Plan);
WHEREAS, Section III of the Plan sets forth the profit sharing calculation for certain employee groups of the Company as defined in Section I.F of the Plan;
WHEREAS, during the course of 2014, the Company reached agreement with certain unions regarding the calculation of profit sharing for certain employee groups not expressly described in Section III;
WHEREAS, the Company desires to amend the Plan to expressly describe each employee group eligible for Awards under Section III;
WHEREAS, Section V.A reserves to the Company the right to amend the Plan in its sole discretion; and
WHERESA, the Company has previously delegated the authority to amend its benefit plans with respect to changes relating to implementation of collective bargaining agreements to the Companys Executive Vice President Human Resources and Labor Relations;
NOW, THEREFORE, the Plan is hereby amended effective January 1, 2014, for the 2014 Plan year and thereafter as set forth below:
1. The definitions of Ground Employee Group, Other Employee Group, and Pilot Employee Group are hereby deleted from the Plan.
2. The definition of Participating Employee Group is hereby amended in its entirety to read as follows:
Participating Employee Group. Each employee group set forth in Appendix B is a Participating Employee Group. Expressly excluded from the definition are: (i) any class or craft of employees represented by a union but not covered by an agreement between an Employer and such union expressly providing for coverage under a Company-sponsored (or Employer-sponsored) profit sharing plan; and (ii) International Employees. In the event of any conflict between Appendix B and a collective bargaining agreement, the collective bargaining agreement shall govern.
3. Section III.B.3 is hereby amended in its entirety to read as follows:
Each Qualified Employee eligible under Section II shall be entitled to an Award equal to the following:
a. | The Qualified Employees Wages x Base Percentage A x the Factor for Base Percentage A set forth in Appendix B applicable to such Qualified Employees Participating Employee Group; |
Plus
b. | The Qualified Employees Wages x Base Percentage B x the Factor for Base Percentage B set forth in Appendix B applicable to such Qualified Employees Participating Employee Group. |
4. A new Appendix B is added to the Plan to read as follows:
APPENDIX B
Participating Employee Group | Union | Group Code | Factor for Base | Factor for Base | ||||
Joint Collective Bargaining Agreements | ||||||||
Customer Service Representatives | IAM | PCE | 5 | 10 | ||||
Dispatchers | PAFCA | DIS | 5 | 10 | ||||
Fleet Service Employees | IAM | RMP | 5 | 10 | ||||
Pilots | ALPA | PT, SPT | 10 | 20 | ||||
Reservations Representatives | IAM | PCE | 5 | 10 | ||||
Storekeeper Employees | IAM | RMP | 5 | 10 | ||||
Maintenance Instructors | IAM | MTI | 5 | 10 | ||||
Emergency Procedure Instructors | IAM | FTI | 15 | 15 | ||||
Fleet Technical Instructors | IAM | FTI | 15 | 15 | ||||
Security Officers | IAM | SEC | 0 | 0 | ||||
Individual sCO or sUA Collective Bargaining Agreements | ||||||||
Central Load Planners | IAM | PCE, MGT | 5 | 10 | ||||
Flight Attendants | AFA | FA, IFA | 15 | 15 | ||||
Food Service Personnel | IAM | FS | 15 | 15 | ||||
Simulator Technicians | IBT | MEC, MGT | 15 | 15 | ||||
Technicians | IBT | MEC | 15 | 15 | ||||
Non-Union | ||||||||
FQM (Flight Qualified Management) | None | FMT | 5 | 5 | ||||
Chelsea Food Service | None | FS | 5 | 5 | ||||
Management & Administrative | None | SAL, MGT, OFC,SIA, SLS | 5 | 5 | ||||
Test Pilots | None | TPT | 5 | 5 |
* * * * * *
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IN WITNESS WHEREOF, the Company has caused this amendment to be executed on its behalf this 5th day of February, 2015.
UNITED CONTINENTAL HOLDINGS, INC. |
/s/ Michael P. Bonds |
Michael P. Bonds |
Executive Vice President, |
Human Resources and Labor Relations |
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