Common use of RESPECT FOR EXISTING AGREEMENTS Clause in Contracts

RESPECT FOR EXISTING AGREEMENTS. Existing company schemes that cover the entire employee groups covered by this collective agreement can replace Pension for salaried employees Pension for Salaried Employees – PFA Pension under the following conditions: The contribution in the scheme must always be at least equal to the collectively agreed contribution, and the insured (or their dependants) must be guaranteed at least an old-age pension, cf. below, and a one-off sum of DKK 60,000 in the event of death and disability. If these conditions have not already been satisfied, the company must make sure to modify the scheme. In connection with any fu- ture modifications to the contribution level, the company is entitled to withhold an amount from the employee's wages corresponding to the collectively agreed employee contribution to the pension scheme. At least 50% of the pension contribution to a pension scheme must be used for a lifelong benefit (annuity). However, where a pension is phased-in, contributions must be made in advance to the insurance elements stipulated in the collective agreement, so that the share of the pension contribution to be used for annuity can be less than 50%. The above requirements apply to all pension schemes covered by the Collective Agreement for Shops. Pension agreements already entered into at companies covered by collective agreements, where the pension contribution to an instalment and/or capital pen- sion exceeds 50%, may be retained. Similarly, agreements which deviate from the above entered into with parts of capital chains covered by collective agreements and members of Dansk Erhverv Arbejdsgiver may be maintained by subsequently entering into a collective agreement for shops/departments owned by the same capital chain that are not covered by collective agreements at the outset. Companies that will be covered by the collective agreement in the future – be they current or future members of Dansk Erhverv Arbejdsgiver – will have a pen- sion obligation at the time the collective agreement comes into force. The condi- tions that existing pension agreements entered into by such companies may be considered to satisfy the pension obligations of the collective agreement are that the agreements should have been entered into before the demand for a collective agreement was made, that the conditions listed above concerning compliance with other agreements have been satisfied (requirements relating to the benefit structure), and that any necessary adjustment of the agreements is made no later than 6 months after the collective agreement has entered into force. In groups, the same principles for compliance with existing agreements apply as in companies in general, in accordance with this agreement. However, in addition, a company within a group that is covered by the collective agreement but does not have an existing pension agreement may satisfy the pension obliga- tion under the collective agreement via an existing pension agreement applied elsewhere in the group. However, this only applies if this agreement is generally applied within the group and if the agreement in the company in question covers all employees under the collective agreement in that company.

RESPECT FOR EXISTING AGREEMENTS. Existing company enterprise schemes that cover all of the entire employee groups of employees covered by this collective agreement can replace may take the place of Pension for salaried employees Pension for Salaried Employees – PFA Pension under the following conditions: The contribution in Contributions to the scheme must always be at least equal to the collectively agreed contributioncontribution stipulated in the collective agreement, and they must at least provide the insured (or their dependants) must be guaranteed at least with an old-age pension, cf. below, and a one-off sum of DKK 60,000 in the event of death and or disability. If these conditions have are not already been satisfiedsatisfied at the outset, the company must enterprise shall make sure efforts to modify ensure that the schemescheme is modified. In connection with any fu- ture future modifications to the contribution levellevels, the company is entitled to enterprise may withhold an amount from of the employee's wages corresponding ’s pay equal to the collectively agreed employee employee’s contribution to the pension schemescheme stipulated in the collective agreement. At least 50% 50 per cent of the pension contribution to a pension scheme must shall be used for a lifelong benefit (annuity). However, where Where a pension is phased-phased in, contributions must payments shall first be made in advance to the insurance elements stipulated in the collective agreement, so such that the share proportion of the pension contribution to be used for an annuity can may be less than 50%50 per cent. The above requirements apply requirement applies to all pension schemes covered by the Salaried Employees’ Collective Agreement for ShopsAgreement. Pension agreements already entered into at companies enterprises covered by the collective agreementsagreement, where the pension contribution to an instalment and/or capital pen- sion pension exceeds 50%50 per cent, may be retained. Similarly, agreements which deviate from the above entered into with parts of capital chains covered by the collective agreements agreement and members of Dansk Erhverv Arbejdsgiver that differ from the above may be maintained retained by subsequently entering into a collective agreement for shops/departments owned by the same capital chain that are were not covered by the collective agreements agreement at the outset. Companies that will be Enterprises covered by the collective agreement in the future – be whether they are current or future members of Dansk Erhverv Arbejdsgiver – will have fall under a pen- sion pension obligation at from the time date on which the collective agreement comes into force. The condi- tions that conditions under which existing pension agreements entered into by for such companies enterprises may be considered to satisfy the pension obligations of laid down in the collective agreement are that the agreements should have been entered into before the demand request for a collective agreement was made, that the conditions listed above concerning compliance with other agreements have been should be satisfied (requirements relating to the benefit structure), and that any necessary adjustment of modification to the agreements is that may be needed should be made no later than 6 six months after the collective agreement has entered into force. In groups, the same principles for of compliance with existing agreements shall apply as in companies enterprises in general, general in accordance with relation to this agreement. However, in addition, a company enterprise within a group that is covered by the collective agreement but does not have an existing pension agreement may satisfy meet the pension obliga- tion under obligation set out in the collective agreement via an existing pension agreement applied elsewhere in the group. HoweverThis shall only apply, this only applies however, if this agreement is generally applied within the group group, and if the agreement in the company in question enterprise concerned covers all employees under the collective agreement in that companyenterprise.

RESPECT FOR EXISTING AGREEMENTS. Existing company schemes that cover the entire employee all groups of employees covered by this collective agreement can replace may take the place of Pension for salaried employees Pension for Salaried Employees – PFA Pension under the following conditions: The contribution in Contributions to the scheme must always be at least equal to the collectively agreed contributioncontribution stipulated in the collective agreement, and they must at least provide the insured (or their dependants) must be guaranteed at least with an old-old age pension, cf. below, and a one-off sum of DKK 60,000 in the event of death and or disability. If these conditions have are not already been satisfiedsatisfied at the outset, the company must shall make sure efforts to modify ensure that the schemescheme is modified. In connection with any fu- ture future modifications to the contribution levellevels, the company is entitled to may withhold an amount from of the employee's wages corresponding ’s pay equal to the collectively agreed employee employee’s contribution to the pension schemescheme stipulated in the collective agreement. At least 50% 50 per cent of the pension contribution to a pension scheme must shall be used for a lifelong benefit (annuity). However, where Where a pension is phased-phased in, contributions must payments shall first be made in advance to the insurance elements stipulated in the collective agreement, so such that the share proportion of the pension contribution to be used for an annuity can may be less than 50%50 per cent. The above requirements apply requirement applies to all pension schemes covered by the Shop Workers’ Collective Agreement for ShopsAgreement. Pension agreements already entered into at companies covered by the collective agreementsagreement, where the pension contribution to an instalment and/or capital pen- sion pension exceeds 50%50 per cent, may be retained. Similarly, agreements which deviate from the above entered into with parts of capital chains covered by the collective agreements agreement and members of Dansk Erhverv Arbejdsgiver that differ from the above may be maintained retained by subsequently entering into a collective agreement for shops/departments owned by the same capital chain that are were not covered by the collective agreements agreement at the outset. Companies that will be covered by the collective agreement in the future – be whether they are current or future members of Dansk Erhverv Arbejdsgiver – will have fall under a pen- sion pension obligation at from the time date on which the collective agreement comes into force. The condi- tions that conditions under which existing pension agreements entered into by for such companies may be considered to satisfy the pension obligations of laid down in the collective agreement are that the agreements should have been entered into before the demand request for a collective agreement was made, that the conditions listed above concerning compliance with other agreements have been should be satisfied (requirements relating to the benefit structure), and that any necessary adjustment of modification to the agreements is that may be needed should be made no later than 6 six months after the collective agreement has entered into force. In groups, the same principles for of compliance with existing agreements shall apply as in companies in general, general in accordance with relation to this agreement. However, in addition, a company within a group that is covered by the collective agreement but does not have an existing pension agreement may satisfy meet the pension obliga- tion under obligation set out in the collective agreement via an existing pension agreement applied elsewhere in the group. HoweverThis shall only apply, this only applies however, if this agreement is generally applied within the group group, and if the agreement in the company in question concerned covers all employees under the collective agreement in that company.

RESPECT FOR EXISTING AGREEMENTS. Existing company schemes that cover all of the entire employee groups of employees covered by this collective agreement can may replace Pension for salaried employees Pension for Salaried Employees – PFA Pension under the following conditions: The contribution in Contributions to the scheme must always be at least equal to the collectively agreed contributioncontribution stipulated in the collective agreement, and they must at least provide the insured (or their dependants) must be guaranteed at least with an old-old age pension, cf. see below, and a one-off lump sum of DKK 60,000 in the event of death and or disability. If these conditions have are not already been satisfiedsatisfied at the outset, the company must make sure to modify enterprise muse ensure that the schemescheme is modified. In connection with any fu- ture modifications to the future adjustments of contribution levellevels, the company is entitled to enterprise may withhold an amount from of the employee's wages corresponding ’s pay equal to the collectively agreed employee employee’s contribution to the pension schemescheme stipulated in the collective agreement. At least 50% 50 per cent of the pension contribution to a pension scheme must be used for a lifelong benefit (annuity). However, where Where a pension is phased-phased in, contributions payments must first be made in advance to the insurance elements stipulated in the collective agreement, so such that the share proportion of the pension contribution to be used for an annuity can may be less than 50%50 per cent. The above requirements apply requirement applies to all pension schemes covered by the Salaried Employees’ Collective Agreement for ShopsAgreement. Pension agreements already entered into at companies enterprises covered by the collective agreementsagreement, where the pension contribution to an instalment and/or capital pen- sion pension exceeds 50%50 per cent, may be retained. Similarly, agreements which deviate from the above entered into with parts of capital chains covered by the collective agreements agreement and members of Dansk Erhverv Arbejdsgiver that differ from the above may be maintained retained by subsequently entering into a collective agreement for shops/departments owned by the same capital chain that are were not covered by the collective agreements agreement at the outset. Companies that will be Enterprises covered by the collective agreement in the future – be whether they are current or future members of Dansk Erhverv Arbejdsgiver – will have fall under a pen- sion pension obligation at from the time date on which the collective agreement comes into force. The condi- tions conditions that existing pension agreements entered into by such companies enterprises may be considered to satisfy the pension obligations of the collective agreement are that the agreements should have been entered into before the demand request for a collective agreement was made, that the conditions listed above concerning compliance with other agreements have been satisfied (requirements relating to the benefit structure), and that any necessary adjustment of the agreements is made no later than 6 six months after the collective agreement has entered into force. In groups, the same principles for of compliance with existing agreements apply applies as in companies the enterprises in general, general in accordance with relation to this agreement. However, in addition, a company an enterprise within a group that is covered by the collective agreement but does not have an existing pension agreement may satisfy meet the pension obliga- tion under obligation set out in the collective agreement via an existing pension agreement applied elsewhere in the group. HoweverThis only applies, this only applies however, if this agreement is generally applied within the group group, and if the agreement in the company in question said enterprise covers all employees under the collective agreement in that companyenterprise.

RESPECT FOR EXISTING AGREEMENTS. Existing company enterprise schemes that cover the entire employee all groups of employees covered by this collective agreement can replace may take the place of Pension for salaried employees Pension for Salaried Employees – PFA Pension under the following conditions: The contribution in Contributions to the scheme must always be at least equal to the collectively agreed contributioncontribution stipulated in the collective agreement, and they must at least provide the insured (or their dependants) must be guaranteed at least with an old-old age pension, cf. below, and a one-off sum of DKK 60,000 in the event of death and or disability. If these conditions have are not already been satisfiedsatisfied at the outset, the company enterprise must make sure efforts to modify ensure that the schemescheme is modified. In connection with any fu- ture future modifications to the contribution levellevels, the company is entitled to enterprise may withhold an amount from of the employee's wages corresponding ’s pay equal to the collectively agreed employee employee’s contribution to the pension schemescheme stipulated in the collective agreement. At least 50% 50 per cent of the pension contribution to a pension scheme must shall be used for a lifelong benefit (annuity). However, where Where a pension is phased-phased in, contributions must payments shall first be made in advance to the insurance elements stipulated in the collective agreement, so such that the share proportion of the pension contribution to be used for an annuity can may be less than 50%50 per cent. The above requirements apply requirement applies to all pension schemes covered by the Shop Workers’ Collective Agreement for ShopsAgreement. Pension agreements already entered into at companies enterprises covered by the collective agreementsagreement, where the pension contribution to an instalment and/or capital pen- sion pension exceeds 50%50 per cent, may be retained. Similarly, agreements which deviate from the above entered into with parts of capital chains covered by the collective agreements agreement and members of Dansk Erhverv Arbejdsgiver that differ from the above may be maintained retained by subsequently entering into a collective agreement for shops/departments owned by the same capital chain that are were not covered by the collective agreements agreement at the outset. Companies that will be Enterprises covered by the collective agreement in the future – be whether they are current or future members of Dansk Erhverv Arbejdsgiver – will have fall under a pen- sion pension obligation at from the time date on which the collective agreement comes into force. The condi- tions that conditions under which existing pension agreements entered into by for such companies enterprises may be considered to satisfy the pension obligations of laid down in the collective agreement are that the agreements should have been entered into before the demand request for a collective agreement was made, that the conditions listed above concerning compliance with other agreements have been should be satisfied (requirements relating to the benefit structure), and that any necessary adjustment of modification to the agreements is that may be needed should be made no later than 6 six months after the collective agreement has entered into force. In groups, the same principles for of compliance with existing agreements shall apply as in companies enterprises in general, general in accordance with relation to this agreement. However, in addition, a company an enterprise within a group that is covered by the collective agreement but does not have an existing pension agreement may satisfy meet the pension obliga- tion under obligation set out in the collective agreement via an existing pension agreement applied elsewhere in the group. HoweverThis shall only apply, this only applies however, if this agreement is generally applied within the group group, and if the agreement in the company in question enterprise concerned covers all employees under the collective agreement in that companyenterprise.