EMPLOYEES OF COMMERCE AGREEMENT HIGHLIGHTS JANUARY 2010

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The employees of trade reached a wage agreement which runs from 1 November 2009 to April 30 and through which over a period of twelve months from July , will be added to salaries all sums unpaid. The announcement was made yesterday the Argentina Chamber of Commerce (CAME), through Circular No. 8 / 2010. In FAECYS portals and SEC, no news on the subject. Highlights include: The agreement that benefits more than one million workers. Duration of agreement Although the agreement runs from 1 November 2009 until April 30. There are no increases for the months of November and December. Allocation unpaid 100, -- It gives a non-remunerative allocation of 100 per month, effective January 1, 2010. In the case of short-time workers, the allowance is paid in proportion to the agreed time. In addition, calculate and apply the equivalent to this. What gives an additional 8.33, thus reaching a total of 108.33. per month. It shall not profitable until their concurrence is offset wage increases had been granted by employers from 1 September 2009 and until the date of this agreement. Contributions to social work, FAECYS, SEC and INACAP As in previous agreements, this allocation of 100 "non-remunerative," was calculated: a) On behalf of the employees: 3 bound to Welfare of Commercial Employees (OSECAC). 2.5 solidarity contribution and the employee contribution established by Arts.100 of the CTC 130/75 (SEC 2 FAESyS 0.5 ) Article 101del dues CCT 130/75 (Contributed union 2 in most jurisdictions) b) For employers: 6 bound to Welfare of Commercial Employees (OSECAC). The employer contribution to INACAP bound. Extending the unpaid sums the agreement of April 2008 and 2009 It was agreed to extend until June 30, 2010 the non-remunerative allowances under the agreements "April 2008" and "April 2009", which were incorporated into the salary for the months of January and February 2010. (Ie 20 the 100 fixed the 300 will remain non-remunerative.) Any amounts not remunerative to begin to incorporate basic remunerative basis since 1 July 2010 in 12 proportional shares of 8.33 until 30 June 2011, considering the contributions corresponding to the worker.Employers who wish to do so, may advance the incorporation. This is both for the sums of the agreement in April 2008 and 2009, as the 100 granted in this new agreement. By joining the sums, it should include an amount equivalent to contributions by the employee, so that this does not suffer a decline in real income, and continue to receive in their home pay the same amount it received when the concepts by their non-remunerative it was liquidated with no input Compensation in the bonus As in previous agreements, with liquidations of assets in June and December 2010 shall be paid to each worker every opportunity unremunerative sum equivalent to 50 of the amounts that the date of the liquidation takes the form non-remunerative. Such compensation shall also be subject to the input and contributions to OSECAC and the worker's contributions established by Arts. heidrick & struggles 100 and 101 Special allowance and special, non-remunerative than 300. Compensatory allowance is granted special and extraordinary non-remunerative, one-time 300 .-, to be settled by a separate item and shall be paid in 4 installments of 75 .- in the months January, February, March and April 2010, dying with the last installment payment obligation for any such concept.