EXHIBIT 10.36
DIRECTORS
BUSINESS TRAVEL INSURANCE PLAN
BENEFITS
You are automatically insured against accidental death and
dismemberment that occurs when you are in travel status on CF
business.
Coverage begins when you leave your home, office, or other
location (whichever occurs last) on CF business and continues
until you return to your home or office (whichever occurs
first) at the end of your trip. During this period, you are
covered against all accidents, 24 hours a day, subject to the
exclusions listed in the Directors Business Travel Insurance
Plan.
The principal sum for which you are insured is $500,000. This
amount is payable in addition to any benefit you may be
entitled to receive under CF's Directors 24-Hour Accidental
Death and Dismemberment Plan.
(Note - The maximum payment under this plan and the Directors
24-Hour Accidental Death and Dismemberment Plan for all losses
arising from any one accident is $5,000,000. If several
directors are involved in one accident, and the total
indemnity exceeds $5,000,000, each individual payment will be
reduced proportionately.)
ELIGIBILITY
You are covered if you are a director of Consolidated
Freightways, Inc. and are not covered by CF's Business Travel
Insurance Plan for employees.
COST
The full cost of this plan is paid by Consolidated
Freightways, Inc.
TERMINATION
Your coverage will terminate when you cease to be an eligible
director of Consolidated Freightways, Inc.
SUMMARY OF BENEFITS
When injury results in any of the following losses within one
year after the accident happens, the insurance company will
pay for the loss of:
Life....................................The principal sum
Both hands or both feet or sight
of both eyes..........................The principal sum
One hand and one foot...................The principal sum
One hand and the sight of one eye.......The principal sum
One foot and the sight of one eye.......The principal sum
One hand or one foot...............Half the principal sum
Sight of one eye...................Half the principal sum
Thumb and index finger of
either hand...............One Quarter the principal sum
Speech or hearing of both ears.....Half the principal sum
Hearing of one ear..........One Quarter the principal sum
"Loss" as used with reference to hand or foot means complete
severance, and as used with reference to eye means the
irrecoverable loss of its entire sight.
BENEFICIARY
You may designate and from time to time thereafter change your
beneficiary by completing and returning a beneficiary designation
form, which can be obtained from the offices of Consolidated
Freightways, Inc. If your named beneficiary or beneficiaries do
not survive you, benefits will be paid to your estate, or at the
option of the insurance company, to your surviving relatives.
EXCLUSIONS
This Plan does not cover losses which result from:
1. Suicide or intentionally self-inflicted injuries;
2. Illness, disease, pregnancy, childbirth, miscarriage, or
any bacterial infection other than bacterial infection
occurring as a result of an accidental cut or wound;
3. War or act of war, whether declared or not;
4. Injuries sustained while on full-time active duty in the
armed forces of any country or international body;
5. Commuter travel to and from work;
6. Injuries sustained while riding as a passenger in any
aircraft owned, leased or operated by or on behalf of CF,
a member of your household or yourself; or any aircraft
operated by or for or under the direction of any military
authority, other than by the Military Airlift Command
(MAC) of the United States of America or the similar air
transport service of any other country, or any aircraft
while being used for firefighting, pipeline inspection,
powerline inspection, aerial photography, exploration or
any test for experimental purpose; or any aircraft not
operated by a properly certified pilot; or any aircraft
without a current unrestricted airworthiness certificate;
or while operating or serving as a crew member of any
aircraft.
CLAIMS PROCEDURE
If you suffer an injury covered by the Directors Business Travel
Insurance Plan (accidental death or dismemberment that occurs when
you are in travel status on CF business), written notice of the
loss should be given to the Administrative Benefits Office,
Consolidated Freightways, Inc., P. O. Box 3988, Portland, Oregon
97208 within 20 days or as soon thereafter as is reasonably
possible.
If you have any questions or complaints regarding Directors
Business Travel Insurance Plan, please contact Eberhard Schmoller
or David Slate.
Complete terms and conditions of the Business Travel Insurance Plan
are set forth in the master contract issued to CF by the Hartford
Life Insurance Company.
Consolidated Freightways, Inc. reserves the right to change or
discontinue the Plan at any time.