EXHIBIT 10.1.8.: SCHEDULE OF AMENDMENTS
ALCAN PENSION PLAN (CANADA)
SCHEDULE OF AMENDMENTS 01-1
1. The following subsection is added immediately following subsection 19.07:
19.08 Pension Augmentation at 1 July 2001
19.08.1 The retirement pension, the deferred
retirement pension and the Disability
Pension of a Member who has retired,
terminated his employment or became disabled
as the case may be, before 2 September 2000,
including the pension payable under any
attached elected pension payment guarantee,
either contingent or in payment, and the
pension, either deferred or in payment, to a
surviving spouse, shall be augmented on 1
July 2001.
The monthly amount of the augmentation on
any date of calculation on or after 1 July
2001 is equal to the product of the
Augmentation Factor and the Monthly Pension.
Notwithstanding the preceding, this pension
augmentation is not applicable if a Member
at his Commencement Date has less than 100%
of the Company's contributions to his
retirement income vested and has less than
10 years of Credited Service.
1
19.08.2 For the purposes of this subsection 19.08
only, the following expressions shall have
the meanings set out below:
"Commencement Date" means the earliest of a
Member's retirement date; the date he became
disabled; the date of termination of
service, however, in the case where the date
of termination of service falls before 1
January 1983, then in such case the date of
termination of service shall be deemed to be
1 January 1983; and, in the case of a
pre-retirement surviving spouse's pension,
the first of the month following the
Member's date of death.
"Consumer Price Index" for a month means the
Consumer Price Index for the month as
published by Statistics Canada under
authority of the Statistics Act or the
corresponding index of the country in whose
currency the Monthly Pension is paid at a
fixed rate of exchange.
"Monthly Pension" means the monthly
equivalent of the pension referred to in
paragraph 19.08.1 excluding, in the case
where the pension commenced between 1 April
1975 and 1 January 1976 inclusively or in
the case where the termination date was
before 1 February 1976, any increase paid
under the provisions of the Government
Annuity Improvement Act, Chapter 83,
Statutes of Canada 1974-75-76.
"Augmentation Factor" means the factor
determined by the following formula:
[ (CPI1 / CPI2 ) / (1 + A) ] - 1
2
where
"CPI1" equals the average Consumer Price
Index for the 12-month period ending 30 June
2000,
"CPI2" equals the average Consumer Price
Index for the 12-month period ending three
calendar months prior to the month during
which the Commencement Date occurred, and
"A" equals the sum, on a compounded basis,
of the augmentation factors under all
previous pension augmentations since
Commencement Date.
Notwithstanding the above, the Augmentation
Factor shall equal 20% for a member who at
his Commencement Date has less than 100% of
the Company's contributions to his
retirement income vested and 10 years or
more of Credited Service.
19.08.3 Unless it is an integral number of tenths of
1%, the sum, on a compounded basis, of the
augmentation factors under this and all
previous pension augmentations since
Commencement Date shall be rounded to the
next higher multiple of 0.1%.
19.08.4 The retirement pension of a Member, who
retires on or after 1 July 2001 and who
immediately prior to such retirement was in
receipt of an Approved Disability Benefit,
shall be augmented from his retirement date
by the same augmentation percentage that
would otherwise have applied
3
to his retirement pension had his date of
disability been his Commencement Date for
the purpose of calculating such
augmentation.
19.08.5 The Monthly Pension payable for a particular
month on or after the effective date of this
augmentation shall not exceed the maximum
pension augmented with increases of the
Consumer Price Index as required by Revenue
Rules.
2. Subsection 2.09.1 is amended by inserting after the words "returns to
work" the words "for a Participating Company".
3. Subsection 2.10 is amended by replacing "Alcan Aluminium Limited" by "Alcan
Inc.".
4. Subsection 2.28 is amended by inserting after the first paragraph the
following paragraph
" In the case where Credited Service is recognized in respect of a
period of unpaid leave of absence in accordance with subsection
3.07, the Pensionable Earnings of the Member for such period shall
equal the amount of Pensionable Earnings that he would otherwise
have earned had he not been on leave based on the Pensionable
Earnings he was earning at the time he was granted leave."
5. Paragraph 19.07.2 is amended by replacing in the expression "Monthly
Pension Amount" the word "less" by the word "excluding".
6. Annex B, Names and Addresses of Participating Companies, is amended as
attached.
4
The above amendments come into force on the following dates:
Section Date
------- ----
1 1 July 2001
2 1 July 2000
3 1 March 2001
4 1 January 1990
5 1 October 2000
6 1 March 2001
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ANNEX B
NAME AND ADDRESSES OF PARTICIPATING COMPANIES
<Table>
1. ALCAN INC. 5. ALCAN MANAGEMENT SERVICES CANADA LIMITED
1188 Sherbrooke Street West 1188 Sherbrooke Street West
Montreal, Quebec Montreal, Quebec
H3A 3G2 H3A 3G2
2. ALCAN ADMINCO (2000) INC. 6. ALCAN ASIA PACIFIC LIMITED
1188 Sherbrooke Street West 1188 Sherbrooke Street West
Montreal, Quebec Montreal, Quebec
H3A 3G2 H3A 3G2
3. ALCAN ALUMINIO (AMERICA LATINA) INC. 7. ALCAN SHIPPING SERVICES LIMITED
1188 Sherbrooke Street West 1188 Sherbrooke Street West
Montreal, Quebec Montreal, Quebec
H3A 3G2 H3A 3G2
4. ALCAN INTERNATIONAL LIMITED 8. THE ROBERVAL AND SAGUENAY RAILWAY COMPANY
1188 Sherbrooke Street West 1188 Sherbrooke Street West
Montreal, Quebec Montreal, Quebec
H3A 3G2 H3A 3G2
</Table>
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ALCAN PENSION PLAN (CANADA)
SCHEDULE OF AMENDMENTS 01-2
7. The following subsection is added immediately following subsection 19.08:
19.09 Pension Augmentation at 1 October 2001
This pension augmentation consists of four successively applied
pension augmentations. The first is described in paragraph
19.09.1, the second in paragraph 19.09.2, the third in paragraph
19.09.3 and the fourth in paragraph 19.09.4.
19.09.1 Supplementary Augmentation of Smaller Pensions
19.09.1.1 The retirement pension of a Member aged less
than 65 on 1 April 1999, who either retired
before 1 November 1998 or terminated
employment before 1 November 1998 and retired
before 2 May 1999, shall be augmented on 1
October 2001, as applicable, in accordance
with subparagraph 19.09.1.2.
19.09.1.2 The monthly amount of the augmentation is
determined by the formula:
(X - Y) x (1 + the augmentation factor
determined under subparagraph 19.06.2.3) x
(1 + the augmentation factor determined under
paragraph 19.07.3) x
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(1 + the augmentation factor determined under paragraph
19.08.2)
where
"X" equals the monthly amount of the augmentation,
determined in accordance with the variable "B" only in
subparagraph 19.06.1.10; and
"Y" equals the monthly amount of the augmentation,
determined in accordance with subparagraph 19.06.1.10.
19.09.2 Adjustment for Inflation between Date of
Discontinuation of Active Participation and
Commencement Date
19.09.2.1 The retirement pension of a Member who
discontinued his active participation in the
Plan while remaining in the service of the
Company or an Affiliated Company until his
Commencement Date or who on his Commencement
Date was on sick leave and was not eligible
to receive an Approved Disability Benefit
shall be augmented on 1 October 2001.
Notwithstanding the preceding, this pension
augmentation is not applicable to the Member
who, as a result of having
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discontinued his active participation in the
Plan while remaining in the service of the
Company or an Affiliated Company, became a
Suspended Member pursuant to subsection 4.05.
The monthly amount of the augmentation on any
date of calculation on or after 1 October
2001 is equal to the product of the
Augmentation Factor and the Monthly Pension.
19.09.2.2 For the purposes of this paragraph 19.09.2
only, the following expressions shall have
the meanings set out below:
"Commencement Date" means the earliest of a
Member's retirement date, the date he became
disabled and the date of termination of
service.
"Consumer Price Index" for a month means the
Consumer Price Index for the month as
published by Statistics Canada under
authority of the Statistics Act.
"Monthly Pension" means the monthly
equivalent of the pension referred to in
subparagraph 19.09.2.1 excluding in the case
where the pension commenced between 1 April
1975 and 1 January
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1976 inclusively or in the case where the
termination date was before 1 February 1976,
any increase paid under the provisions of the
Government Annuity Improvement Act, Chapter
83, Statutes of Canada 1974-75-76.
"Augmentation Factor" means the factor
determined by the following formula:
(CPI1 / CPI2 ) - 1
where
"CPI1" equals the average Consumer Price
Index for the 12-month period ending three
calendar months prior to the month during
which the Commencement Date occurred, and
"CPI2" equals the average Consumer Price
Index for the 12-month period ending three
calendar months prior to the month during
which the Member discontinued his active
participation in the Plan or, as the case may
be, prior to the first day of the year during
which he began his sick leave.
19.09.3 Adjustment to Reflect Current Early Retirement Factors
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19.09.3.1 The retirement pension in payment of a Member
shall be augmented on 1 October 2001, as
applicable, in accordance with subparagraph
19.09.3.5.
19.09.3.2 The pension in payment of a surviving Spouse
or of a surviving Contingent Annuitant and
the Spouse's or the Contingent Annuitant's
pension payment guarantee connected to the
retirement pension of a Member shall be
augmented on 1 October 2001, as applicable,
in accordance with subparagraph 19.09.3.6.
19.09.3.3 Notwithstanding the preceding subparagraphs
19.09.3.1 and 19.09.3.2, this pension
augmentation is not applicable:
(i) to the retirement pension of a
Member who was not entitled to an
immediate pension under the Plan at
his date of termination of
employment;
(ii) to the retirement pension of a
Member who at his Date of
Retirement was in receipt of a
Disability Pension in accordance
with section 14;
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(iii) to the retirement pension of a
Member, other than a CAW Member,
whose Retirement Date falls after
31 December 2000;
(iv) to the retirement pension of a CAW
Member whose Retirement Date falls
after 30 June 2000;
(v) to the pension of a Beneficiary
payable under the normal guarantee
or the ten year guarantee;
(vi) to the pension of a limited member,
as such term is defined under the
Family Relations Act (British
Columbia);
(vii) to the retirement pension of a
Member, either in payment or
deferred pursuant to subsection
8.03, who was or is entitled to
credits under the Plan pursuant to
section 80 of the Pension Benefits
Act (Ontario);
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(viii) to the retirement pension of a
Member whose Early Retirement Date
was after October 1996, who at such
date was in receipt of the Approved
Disability Benefit - preretirement
for sickness and where the early
retirement factor at his Early
Retirement Date equaled 100%; and
(ix) for greater certainty, either to
the retirement pension of a Member
who retired pursuant to subsection
6.02 and where the early retirement
factor at his Early Retirement Date
equaled 100% or to the retirement
pension of a Member who retired
pursuant to subsection 6.01, 6.03
or 6.04;
and is not applicable either to the pension
in payment of a surviving Spouse or surviving
Contingent Annuitant of such Member or CAW
Member referred to above or to the Spouse's
or Contingent Annuitant's pension payment
guarantee connected to the retirement pension
of such a Member or CAW Member referred to
above.
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19.09.3.4 For the purposes of this paragraph 19.09.3,
the following expressions shall have the
meanings set out below:
"Augmentation Factor" means the factor
determined by the formula:
(ERF1 / ERF2) - 1
where
ERF1 means the early retirement factor
determined pursuant to subsection 8.02,
except that the number 75 shall be read as
the number 70 and using the same age and
Credited Service of the Member that were used
to determine ERF2 and, where the Member had
deferred payment of his early retirement
pension, increased in accordance with
subsection 8.03,
plus
the greater of the following amounts:
(i) 12 %, if the Member was under the age
of 55 at his Early Retirement Date
less
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3%, for each year that the sum of his
age and Credited Service was less than
84 at his Early Retirement Date,
(ii) 12 %, if the Member was under the age
of 55 and the sum of his age and
Credited Service equaled 70 or more at
his Early Retirement Date
less
6%, for each year by which the
Member's age preceded 54 years and 6
months at his Early Retirement Date,
and
(iii) nil;
ERF2 means the early retirement factor
determined at the Member's Early Retirement
Date and, where the Member had deferred
payment of his early retirement pension,
increased in accordance with subsection 8.03
at his Pension Commencement Date;
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"Monthly Pension" means the monthly
equivalent of the pension referred to in
either of subparagraphs 19.09.3.1 and
19.09.3.2 or of the pension payment guarantee
referred to in subparagraph 19.09.3.2;
"Total Monthly Pension" means the sum of the
Monthly Pension and as the case may be, the
monthly equivalent of the pension or of the
pension payment guarantee under the Regime
agree de pensions Alcan (Quebec) and the
Alcan Supplemental Retirement Benefit Plan;
"Adjusted Total Monthly Pension" means the
Total Monthly Pension excluding that portion
which ceases to be paid at the date when the
Member reaches or would have reached age 65.
19.09.3.5 In regard to subparagraph 19.09.3.1, the
monthly amount of the augmentation is equal
to the product of the Augmentation Factor and
one of the following amounts, as applicable:
(i) if the Member was not a Suspended
Member at his Early Retirement Date
and, his retirement
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pension is subject to a pension
conversion currency option or he is
receiving a pension under a plan other
than the Plan, the Regime agree de
pensions Alcan (Quebec) and Alcan
Supplemental Retirement Benefit Plan,
the lesser of
(i.1) the Adjusted Total Monthly
Pension
and
(i.2) $1722.22 / 12 per year of
Credited Service x the
percentage that would have
applied to the Member's
retirement pension, depending
on the payment option elected
at his Early Retirement Date,
in application of section 10 as
in effect on 1 October 2001;
(ii) if the Member was not a Suspended
Member at his Early Retirement Date and
his retirement pension is not subject to
a pension conversion currency option and
he is not receiving a pension under a
17
plan other than the Plan, the Regime
agree de pensions Alcan (Quebec) and
Alcan Supplemental Retirement Benefit
Plan, the lesser of
(ii.1) the greater of
(ii.1.1) $30.00 per year of
Credited Service
and
(ii.1.2) the Adjusted Total
Monthly Pension
and
(ii.2) $1722.22 /12 per year of
Credited Service x the
percentage that would have
applied to the Member's
retirement pension, depending
on the payment option elected
at his Early Retirement Date,
in application of section 10
as in effect on 1 October
2001;
(iii) if the Member was a Suspended Member
immediately prior to his
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Early Retirement Date and, either was
not a member of the Regime agree de
pensions Alcan (Quebec) or being a
member of the Regime agree the pension
Alcan (Quebec) was a suspended member at
his early retirement date, the lesser of
(iii.1) the Adjusted Total Monthly
Pension
and
(iii.2) $1722.22 /12 per year of
Credited Service x the
percentage that would have
applied to the Member's
retirement pension, depending
on the payment option elected
at his Early Retirement Date,
in application of section 10
as in effect on 1 October
2001;
or
(iv) if the Member was a Suspended Member
at his Early Retirement Date and, being
a member of the Regime agree the pension
Alcan (Quebec), was not a suspended
19
member at his early retirement date, the
Monthly Pension;
19.09.3.6 In regard to subparagraph 19.09.3.2, the
monthly amount of the augmentation is equal
to the product of the Augmentation Factor and
one of the amounts determined in accordance
with subparagraph 19.09.3.5, as applicable,
except that in applying subparagraph
19.09.3.5, the amount of $30.00 shall be read
as $18.00 and the amounts determined in
clauses (i.2), (ii.2) and (iii.2) shall be
multiplied by the percentage guaranteed to
the Spouse or Contingent Annuitant.
19.09.4 Inflation Adjustment
19.09.4.1 The retirement pension, the deferred
retirement pension and the Disability Pension
of a Member who has retired, terminated his
employment or became disabled as the case may
be, before 2 September 2001, including the
pension payable under any attached elected
pension payment guarantee, either contingent
or in payment, and the pension, either
deferred or in payment,
20
to a surviving spouse, shall be augmented on
1 October 2001.
The monthly amount of the augmentation on any
date of calculation on or after 1 October
2001 is equal to the product of the
Augmentation Factor and the Monthly Pension.
Notwithstanding the preceding, this pension
augmentation is not applicable if a Member at
his Commencement Date has less than 100% of
the Company's contributions to his retirement
income vested and has less than 10 years of
Credited Service.
19.09.4.2 For the purposes of this paragraph 19.09.4
only, the following expressions shall have
the meanings set out below:
"Commencement Date" means the earliest of a
Member's retirement date; the date he became
disabled; the date of termination of service;
the date he became eligible to an unreduced
early retirement pension, but not before 1
January 2001, if on 30 December 2000 he had
been on the non-active payroll of a
Participating Company and, in the case of a
pre-retirement surviving spouse's
21
pension, the first of the month following the
Member's date of death.
"Consumer Price Index" for a month means the
Consumer Price Index for the month as
published by Statistics Canada under
authority of the Statistics Act or the
corresponding index of the country in whose
currency the Monthly Pension is paid at a
fixed rate of exchange.
"Monthly Pension" means the monthly
equivalent of the pension referred to in
subparagraph 19.09.4.1 excluding, in the case
where the pension commenced between 1 April
1975 and 1 January 1976 inclusively or in the
case where the termination date was before 1
February 1976, any increase paid under the
provisions of the Government Annuity
Improvement Act, Chapter 83, Statutes of
Canada 1974-75-76.
"Augmentation Factor" means the factor
determined by the following formula 1:
the greater of
(i) A + B - 1
and
- -------------------------------
22
(ii) nil
where
"A" equals the lesser of
(i) 1.03C/12
and
(ii) CPI1 / CPI2,
"B" equals the greater of
(i) 0.5 x (CPI1 / CPI2 - 1.03C/12)
and
(ii) nil
"C" equals the lesser of
(i) 12
and
(ii) the number of months that the
Commencement Date precedes 1
October 2001,
"CPI1" equals the average Consumer Price
Index for the 12-month period
ending 30 June 2001,
and
"CPI2" equals the average Consumer Price
Index for the 12-month period
ending the later of
- ------------------------------------------------------------------------------
23
(i) three calendar months prior to the month
during which the Commencement Date occurred
and
(ii) 30 June 2000.
19.09.4.3 The retirement pension of a Member, who
retires on or after 1 October 2001 and who
immediately prior to such retirement was in
receipt of an Approved Disability Benefit,
shall be augmented from his retirement date
by the same augmentation percentage that
would otherwise have applied to his
retirement pension had his date of disability
been his Commencement Date for the purpose of
calculating such augmentation.
19.09.4.4 The retirement pension of a Member, who
retires on or after 1 October 2001 and, who
on 30 December 2000 and immediately prior to
such retirement was on the non-active payroll
of a Participating Company, shall be
augmented from his retirement date by the
same augmentation percentage that would
otherwise have applied to his retirement
pension had the date of his eligibility to an
unreduced early
24
retirement pension, but not before 1 January
2001, been his Commencement Date for the
purpose of calculating such augmentation.
19.09.5 Unless it is an integral number of hundreds
of 1%, the sum, on a compounded basis, of the
augmentation factors under this and all
previous pension augmentations since
Commencement Date shall be rounded to the
next higher multiple of 0.01%.
19.09.6 The Monthly Pension payable for a
particular month on or after the effective
date of this augmentation shall not exceed
the maximum pension augmented with increases
of the Consumer Price Index as required by
Revenue Rules.
The above amendment shall come into force on 1 October 2001.
25