CWA/AT&T Advertising Solutions Bargaining Report #2

This is to advise you that on April 17, 2012 the Union and the Company reached agreement on a Retirement Incentive Offer (RIO) for our members.

Listed below are the details of the agreement:

Attachment 1

For those employees who are retirement eligible as of the sale close date, will received the opportunity to decide if they want to retire. The Voluntary Retirement Incentive amount will be a one time case payment equal to fifty percent (50%) of the employees termination pay as of April 17, 2012. For those employees who are Account Representatives and Sales Representatives, their amount will be calculated using the representative’s Daily Sales Average (DSA) rates to figure out what their termination pay would equate. This would be based on the 50% stated above.

Attachment 2

For those employees who are within 2 years of retirement as of the date of closing, the Union was able to get the Company to agree to add either 2 years age or 2 years service to qualify the employee for retirement, and those employees would receive a one time cash payment equal to twenty five percent (25%) of the employee’s termination pay.

The same language as stated above would apply to the Account Representatives and Sales Representatives, except in this case termination pay would be at the rate of 25%.

The additional time relating to the 2 and/or 2, will be used only to qualify the employee for retirement, not for the purpose of calculating the value of the employee’s pension. The normal calculation will be made based on years of actual service of the specific employee. Any penalties relating to the Pension Plan based on the employee’s years of service would still be applicable at time of the employees’ retirement.

For any employee who retirees before the sale close date, they will retain all rights to the AT&T Health Care and Pension Benefits Plan, and will continue to receive their benefits from AT&T.

For any employee who moves to YP Holdings LLC, they would receive their benefits from YP Holdings LLC, not AT&T.

A copy of the actual agreement that the employees will be reviewing and signing, should they choose to do so are, enclosed with this update.

UNITED WE BARGAIN...

      DIVIDED WE BEG!!!