Frontier Success Sharing Award

Success Sharing Award 2015 September 30, 2015 marks the end of the 2015 SSP Award Year.  The contract  page 32-35  shows the calculation is based on stock appreciation value and Dividend Rate Value. The Stock Appreciation Value will not be part of the calculation since the   Beginning Award Value of the October 1, 2014 Frontier closing stock price was $5.96 and the Ending Award Value of the September 30, 2015 Frontier closing stock price was $4.75. The increase in Stock Appreciation Value is $0. The Award includes a Dividend Rate Value component for dividends declared during the Award Year. December 2014    .$0.100 Marc. 2015             $0.105 June 2015              $0.105 Sept. 2015              $0.105 Total                         $0.415 The dividends were paid out at a rate of $0.10 per share for the last quarter for 2014, and increased to $0.105 per share in 2015 ($0.10 + ($0.105 x 3 quarters) = $0.415) Per Memorandum of Agreement letter with Frontier effective with the 2015 plan year, the dividend rate value will be determined by adding each Frontier Declared quarterly dividend during the award year, multiplying this amount by 4.5 and then multiplying this total by 150 success units. $0.415   * 150 s  * 4.5  = Total  Payout  $ 280.13 The total payout for the 2015 SSP Award Year is $280.13 per eligible* employee. Formula: 150 Success Units x [($4.75 – $5.96 = $0 Stock Appreciation) + ($0.415 declared dividends x Dividend multiplier 4.5 = 1.8675)] = $280.13 Payment will be made in the last November payroll cycle, payable on November 20th. *Employees eligible for payments as described above are those regular, temporary and term employees who are on the payroll on both the beginning and ending dates of the award year and who work for a minimum of three (3) months within the award year in a position covered by this Collective Bargaining Agreement. Eligible employees who are on approved leaves of absence, short term disability absence or partial disability absence and meet the other eligibility requirements on the ending date of the award year shall receive a payment, provided they return to duty on or before December 31 of the year in which the payment is made. Additional Bonus Plan Language                         Payment of award will be made as soon as practicable after the award year and will normally occure the payday of the last full pay period in November.               Employees Eligible For Payment           Employees covered by CBA, and also meeting the following criteria:     1.  Worked for a minimum of 3 months within the award year, AND     2.  Regular, temporary and terminated employees who are on payroll on BOTH "beginning" and "ending" dates of "award year".               If you meet the above eligibility requirements, AND where on any leave listed below, AND return to duty on or before December 31st of the year in which the payment is made: 1.  Approved leaves of absence           2.  Short-term disability absence           3.  Partial disability absence