2020 Howmet's "Last, Best, and Final" Proposal

The following is the main points that were given in the companies (Howmet) last best and final offer presented to the Bargaining Committee on 9/11/2020.

At this point the Bargaining Committee and Executive Board is unanimous in saying we do not endorse this proposed contract again. It is concessionary and currently with the company making continuous record profits there is no reason to take any concessions. In order to be transparent and no misunderstandings, The International has requested that we bring it back to the membership to vote on.

More details and questions answered during the information meeting. Time and location is To Be Determined at this moment. Please attend the meeting to be informed, ask questions and vote.

Duration: (4) Years, expiring at midnight on February 28 2024. This agreement and it's offer components will expire 11:59 pm EST on Monday September 21, 2020.

· Reduction of additional credits previously available to Pre-Medicare and Medicare retirees

All active employees as well as employees currently on layoff status shall receive lump sum payments totaling $7,000. The first payment of $6,000 will be paid within 14 days of the first payroll cycle following ratification. The second payment of $1,000 will be paid on or before February 28, 2021. Employees will have the option to defer these bonuses to a later date that they select in 2020 or 2021. Payment must occur on a normal pay date with 2 weeks’ notice. (Per Ohio dept. of unemployment: Members on layoff status will lose unemployment benefits dollar for dollar until amount of bonus is exhausted. Members on Sick Leave are not eligible for this Bonus.)

All employees who are active or on a bona fide short term leave of absence on the dates below will be paid an additional $2000 in accordance with the schedule below. (Members on Layoff are not eligible for these bonuses)

· Effective January 1, 2021 the current Defined Benefit Plan will be frozen for participants in Plan (IID) and Plan (IIBB).

· Participants in Plan (IIDD) and Plan (IIBB) will move into the Defined Contribution (i.e.: "ERIC") pension plan receiving 3% Company contributions into their 401K accounts.

· Employees hired since 2009 will continue to participate in the Defined Contribution (i.e.: ERIC) pension plan, receiving 3% of eligible earnings into their 401k accounts.

· The current plan design (i.e.: "Master 2015") will remain in effect for the life of the agreement.

· The employee contribution rates during this collective bargaining agreement will be as follows: (4% increase year over year compounded for the life of the agreement)

· Beginning January 1, 2021, additional credits previously extended to Pre-Medicare and Medicare retirees will be eliminated. (Pre Medicare/pre 65 will have Pension reduced by $158.40 per participant or $316.80 if married per month to offset this additional benefit by elimination. Post Medicare 65+ will have pension reduced by $90.50 per participant or $181.00 if married per month to offset this additional benefit by elimination.)

	S&A Amount		Proposed
Grades	Current	Increase	Amount
1-4	$377	10%	$415
5-8	$391	10%	$430
9-12	$403	10%	$443
13-16	$420	10%	$462
17-20	$437	10%	$481
21-24	$455	10%	$501
25 =+	$473	10%	$520

The Company will have the discretion to offer eligible retiring employees and current retirees the option of receiving a lump-sum cash payment in lieu of receiving retiree medical and life insurance benefits, at time periods subject to company discretion. If offered, this is completely voluntary on the employee's or retiree's part, and the decision to accept such buy-out offer lies solely with the employees or retiree. If

so offered, the Company will review information regarding communications with the UAW prior to delivery of such information.

· Increasing the attendance bonus from $750 to $1,000 and changing the definition of acceptable absences under the attendance bonus program. ("Perfect attendance" bonus will only be paid for vacation, jury duty, bereavement, holidays, military leave, declared state of emergency, work related injury/ illness and union business. Sick leave, FMLA, or any occurrence will eliminate you from this bonus.)

Maintenance Mandatory Overtime for Works Engineering Employees Hired After Ratification Date

· New employees hired after the ratification of the agreement will be subject to mandatory overtime as modified in the Company Proposal #1 Version VI and further clarified in the enclosed Letter ("Mandatory Overtime for Works Engineering Employees hired after 2020 Ratification Date")

· Languages changes to clarify when employees who do not work a full week are/are not eligible for weekend premiums. (Currently anyone who has a bona fide personal illness or FMLA are eligible for premium pay on the weekends as well as Holiday pay before and after a Holiday. With this change an employee will no longer be eligible for premium pay or Holiday pay.)

· Employees who provide written notice to their supervisor one week in advance of a colonoscopy will be eligible for 4 hours of straight time pay for the related prep day after confirmation of the completed procedure is provided to the Medical department. These 4 hours will be considered an excused absence for attendance policy purposes.

· Active employees who provide written notice to their supervisor at least 90 calendar days in advance of retirement (with retirement being defined under the company's retirement plans) and retire on the date will receive a gross payment of $250 within 30 days of their retirement date.

Please see the UAW Local 1050 website for any Tentative Agreements throughout these negotiations.

The Election Committee will notify the Membership of meeting, vote times and location

	Current	Proposed
Weekly Amount	2020	2021	2022	2023	2024
You Only	$64.00	$66.56	$69.22	$71.99	$74.87
You + Family	$85.00	$88.40	$91.94	$95.61	$99.44

	Cap Credits
Pre-Medicare	$7,767
Medicare	$3,389