SUMMARY... 2 HELP FOR YOUR PERSONAL NEEDS... 3

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1 PACCAR U.S. Salaried Employee Handbook ADDITIONAL BENEFITS AND RESOURCES SUMMARY... 2 Help for Your Personal Needs... 2 Help with Financial Security... 2 HELP FOR YOUR PERSONAL NEEDS... 3 VACATION AND HOLIDAYS... 3 Vacation... 3 Holidays... 4 SICK LEAVE... 4 EMPLOYEE ASSISTANCE PROGRAM (EAP)... 5 FAMILY AND MEDICAL LEAVE ACT (FMLA)... 5 Eligibility... 5 How FMLA Works... 6 Types of FMLA Leave... 7 Coming Back to Work... 7 Continuing Your Benefits During Family Leave... 7 TUITION REIMBURSEMENT PROGRAM AND EDUCATION RECOGNITION AWARD... 8 How the Program Works... 9 SCHOLARSHIP PROGRAM EMPLOYEE COMPUTER PURCHASE PROGRAM How it Works Items Approved Items Not Approved TRAVEL ASSISTANCE SERVICES HELP WITH FINANCIAL SECURITY...12 EMPLOYEE STOCK PURCHASE PLAN Eligibility Purchasing Stock Account Information Making Changes to Your Account Termination of Employment Administrative Information SEPARATION PAY PLAN Eligibility How Separation Pay Works Other Separation Pay Details PACCAR U.S. Salaried Employee Handbook January 2014 Additional Benefits and Resources 1

2 SUMMARY We can all use help juggling professional and personal responsibilities in our daily lives. PACCAR recognizes these challenges and has made available a variety of additional benefits and resources to add to your future financial security and help you balance your work and private life. Help for Your Personal Needs Vacation and Holidays Employee Assistance Program (EAP) Family and Medical Leave Act (FMLA) Tuition Reimbursement Program and Education Recognition Award Scholarship Program Employee Computer Purchase Program Travel Assistance Services Help with Financial Security Employee Stock Purchase Plan Separation Pay Plan PACCAR U.S. Salaried Employee Handbook January 2014 Additional Benefits and Resources 2

3 HELP FOR YOUR PERSONAL NEEDS Vacation and Holidays Vacation Since time away from the job is essential, PACCAR encourages you to take vacation each year. The length of your vacation is based on your years of service and salary grade as shown below. Vacation Accrual and Carry Over Salary Grade Your Years of Service* Annual Accrual Biweekly Vacation Accrual Weekly Vacation Accrual Maximum Carry-Over 1x (Annual) Grades 32 and below Under 6 years 6 to 14 years 14 or more years 10 days 15 days 20 days 3.08 hours 4.62 hours 6.15 hours 1.54 hours 2.31 hours 3.08 hours 80 hours/10 days 120 hours/15 days 160 hours/20 days Grades 33 and above Under 9 years 9 or more years 15 days 20 days 4.62 hours 6.15 hours 2.31 hours 3.08 hours 120 hours/15 days 160 hours/20 days * Includes service with PACCAR divisions and subsidiaries, and previous hourly employment. Vacation is earned on a continuous basis. You accrue vacation for every day of service beginning immediately on your first day of employment. You may use your vacation as soon as you have earned it, provided you obtain your manager s approval. To help maintain our quality service, you should try to take your vacation in blocks of full weeks. Part-time employees earn prorated vacation based on the actual number of hours worked. For example, if you are a grade 32 or below with 7 years of service and you work 20 hours per week, you will earn 2.31 hours of vacation each biweekly pay period. The formula for calculating prorated vacation is explained below. Temporary employees do not accrue vacation. Actual Hours Worked per Week x Weekly Accrual Rate Prorated Vacation PACCAR U.S. Salaried Employee Handbook January 2014 Additional Benefits and Resources 3

4 Each December 31st, you may carry over to the following year unused vacation up to the maximum number of carry-over days listed in the Vacation Accrual and Carry-Over table. Unused vacation in excess of the maximum number of carry-over days is forfeited. If you are away from work due to illness or an accident, you will continue to earn vacation during your paid short-term disability (STD). Employees will not earn vacation during unpaid leaves of absence or while on long-term disability (LTD). If you get approved for long-term disability or if you leave PACCAR, you will be paid for any earned and unused vacation as of your last day worked. Unused vacation will not be used to extend your date of termination or date of retirement. Exceptions to this practice will be considered only in unusual circumstances when such an exception is clearly in the Company and employee s mutual interest. Any such exceptions must be approved in advance by the appropriate Vice President/General Manager. Holidays Besides vacation, PACCAR offers you days off with pay. Holiday practices vary by location. Contact your Human Resources representative for details. Sick Leave PACCAR provides you up to five sick leave days per calendar year that may be used for your own illness or injury. You are awarded sick leave days on January 1 st of each year if you have an active employment status. You may use your sick leave days as soon as they are awarded. For new hire and rehires, the number of sick leave days is prorated based on the most recent hire date as shown below and is awarded upon hire. Employment Date Sick Leave Days January 1 January 31 February 1 April 15 April 16 June 30 July 1 September 15 September 16 November 30 December 1 December 31 5 day (40 hours) 4 days (32 hours) 3 days (24 hours) 2 days (16 hours) 1 day (8 hours) 0 days (0 hours) PACCAR U.S. Salaried Employee Handbook January 2014 Additional Benefits and Resources 4

5 Part-time employees earn prorated sick leave days based on scheduled work hours. Temporary employees are not eligible for sick leave. Employees on inactive status will not be credited with sick leave until they return to active status. Sick leave days do not roll over to the next year, and if you leave PACCAR, you will not be paid for any unused days. Employee Assistance Program (EAP) The Employee Assistance Program (EAP) is a confidential service designed to help you and your immediate family and household members deal with personal issues that prevent you from feeling and doing your best. You can use the EAP for a wide range of concerns, or when you just need help sorting out your thoughts. The EAP is administered by professional organizations with experienced staff who can help you with a wide range of concerns that may include: Family, marital and relationship issues Stress management Domestic violence Substance abuse Financial hardship Contact your Human Resources representative for details. Family and Medical Leave Act (FMLA) The Family and Medical Leave Act (FMLA) can make extra time available to you when family concerns make it difficult for you to work. FMLA leave is unpaid time off that can be used by any eligible employee. It is an opportunity to take time away from work to care for a newborn child, a newly adopted child or to care for a seriously ill family member. You may also take family leave when you are unable to work because of your own serious health condition. Eligibility Under FMLA, you are eligible for 12 weeks of unpaid family leave if you have worked for PACCAR for at least 12 months and have worked at least 1,250 hours during the 12 months before your leave begins. You must also work at a location that employs at least 50 PACCAR employees within a 75 mile radius. PACCAR U.S. Salaried Employee Handbook January 2014 Additional Benefits and Resources 5

6 How FMLA Works Requesting a Leave You may request leave of up to 12 work weeks in a rolling 12-month period measured backward from the date you use any FMLA leave. To request a leave, contact your Human Resources representative. For planning purposes, you should request your leave as much in advance as possible, but at least 30 days beforehand when the need for FMLA leave is foreseeable. You may request a leave for one or more of the following reasons: For the birth or placement of a child for adoption or foster care; To care for an immediate family member (spouse, child or parent) with a serious health condition; To take medical leave when you are unable to work because of your own serious health condition. There are several program provisions you should be aware of: You must use any accrued vacation as part of your FMLA leave. The remainder of the leave period will then be unpaid. You are required to give notice as soon as possible, preferably within 30 days in advance, that you need to take FMLA leave when the need is foreseeable. If you fail to give notice, your leave may be delayed until proper notice is given. You are required to give notice as soon as practicable that you need to take FMLA leave when the need for the leave is unforeseeable. As soon as practicable would normally mean at least verbal notice within two business days of when the need for the leave becomes known. If you are absent due to a serious health condition which is covered under one of the Disability Plans or industrial insurance, your absence will automatically be counted toward your FMLA entitlement. If you are going on leave to care for an ill family member, you must provide a medical certification, issued by the health care provider of your ill family member. If you are going on a leave for your own serious health condition, the provisions under the disability plans will satisfy your FMLA requirements. If your leave does not qualify for the disability plans, you must provide medical certification. If you fail to provide medical certification, your leave may be denied until certification is given. PACCAR U.S. Salaried Employee Handbook January 2014 Additional Benefits and Resources 6

7 Special Military Leave If you are eligible and qualify for FMLA leave, you are entitled to up to 12 weeks of leave because of any qualifying exigency that is the result of your spouse, son, daughter, or parent being on active duty, or being notified of an impending call to active duty status, in support of a contingency operation. If you are eligible and qualify for FMLA leave, you are entitled to up to 26 weeks of leave in a single 12-month period to care for your spouse, son, daughter, parent, or next of kin who is a current member or veteran of the Armed Forces who is recovering from a serious illness or injury sustained in the line of active duty. Veterans must have been a member of the Armed Forces within the five years immediately preceding the leave. Contact your Human Resources representative for more information about FMLA. Types of FMLA Leave If you are eligible and qualify for FMLA leave, you are entitled to take FMLA leave on a full-time, an intermittent or reduced basis as such leave is medically necessary. The use of intermittent or reduced leave may be subject to Company management approval. Coming Back to Work Depending on business needs and the length of your leave, PACCAR will try to ensure that your position is available for you when you return to work. If that is not possible, PACCAR will work to find you an equivalent position. A position when you return can be denied if you would have been laid off during your FMLA leave, or if you were hired for a specific term or project which ends, or if your leave exceeds FMLA entitlement. You may be required to provide a fitness for duty certification upon your return to work. Continuing Your Benefits During Family Leave Your health care coverage and health care flexible spending account (HCFSA) will continue while you are on FMLA leave provided you pay the regular monthly contribution. During any paid portion of your leave, your health care and HCFSA contributions will be deducted from your paycheck as normal. During the unpaid portion of your leave, you may make your health care and HCFSA contributions in a lump sum on a pre-tax basis from your last check prior to going out on leave, or you may make monthly after-tax payments while you are out on leave or pay arrears in full through payroll deduction when you return to work. PACCAR U.S. Salaried Employee Handbook January 2014 Additional Benefits and Resources 7

8 PACCAR is not required to continue your health care coverage if you do not pay the monthly contribution or if your payment is more than 30 days late. PACCAR s obligation to maintain health benefits under FMLA will stop if you inform PACCAR of your intent not to return to work when your FMLA leave entitlement is used up. PACCAR may recover premiums it paid to maintain your health insurance coverage if you fail to return to work from FMLA leave. All other benefits will be continued in accordance with current vacation, disability and unpaid leave of absence policies. Tuition Reimbursement Program and Education Recognition Award The PACCAR tuition reimbursement program provides an opportunity to earn a degree or professional credentials through Company reimbursed educational programs. To be eligible, you must be a full-time employee working a standard workweek for your location and have at least 12 months of satisfactory service before beginning a course. The reimbursement is 50% for all eligible degree programs. Reimbursement of graduate degrees must be approved by the Operating Committee member who is responsible for the employee s division. To qualify for reimbursement, your courses must be completed while you are an active PACCAR employee. Tuition reimbursement includes tuition fees, registration costs, laboratory fees or other required fees. The cost of GMAT or GRE preparatory courses and exam fees are reimbursed at 50% only once if required for acceptance in a graduate degree program. Expenses not eligible for reimbursement include: Cost of books, supplies or equipment. Reimbursement for executive MBA programs requires approval under the Executive Development Program. If you receive other educational financial assistance, such as veteran educational assistance, you may also apply for PACCAR tuition reimbursement. However, your PACCAR tuition assistance, when combined with your other financial assistance, may not exceed 50% of the total cost of tuition. Employees eligible for the tuition reimbursement program who successfully complete a Masters, Doctorate, or Post-Graduate Degree will be eligible to receive a one-time Education Recognition Award of 3% of your base salary, up to $3,000. Additionally, employees who complete the following professional certifications are eligible to receive a one-time Education Recognition Award of 3% of your base salary, up to $3,000: PACCAR U.S. Salaried Employee Handbook January 2014 Additional Benefits and Resources 8

9 Chartered Accountant (CA) Certified Public Accountant (CPA) Professional Engineer (PE) Chartered Financial Analyst (CFA) Certified Information Security Manager (CISM) Microsoft Certified Systems Engineer (MCSE) How the Program Works Tuition Reimbursement Program To receive reimbursement, make sure your course is approved in advance. After you complete the course, submit proof of satisfactory completion, along with receipts or canceled checks indicating fees paid, to your Human Resources representative. You will be reimbursed 50% for tuition and fees (including registration costs) upon successful completion of approved courses, provided you receive at least a C+ grade (2.5 on a 4.0 scale) or its equivalent, or a Pass for a Pass/Fail course. Employees who leave the company within one year of receiving reimbursement for undergraduate tuition must repay reimbursements received in the past 12 months. Employees who leave the company within two years of receiving reimbursement for graduate tuition must repay reimbursements received in the past 24 months. If you are laid off, you will have no obligation to repay, and PACCAR will reimburse its portion when the course(s) are completed, even if your layoff date precedes the end of the course. Education Recognition Award To receive the Education Recognition Award for your graduate degree or certification, submit proof of satisfactory completion of your degree or certification to your Human Resources representative. You will receive an award of 3% of your base salary, paid as a lump sum, up to a maximum of $3,000; appropriate withholding taxes and payroll deductions will be taken from the gross amount of the award. Employees who leave the company within one year of receiving an Education Recognition Award must repay any award received in the past 12 months. If you are laid off, you will have no obligation to repay an Education Achievement Award. Contact your Human Resources representative for additional information regarding the Tuition Reimbursement Program or Education Recognition Award. PACCAR U.S. Salaried Employee Handbook January 2014 Additional Benefits and Resources 9

10 Scholarship Program The Paul Pigott Scholarship Foundation awards college freshman year scholarships each year to a varying number of qualified high school applicants. The award amount is up to $10,000, unless school costs are less. Paul Pigott Scholarships are awarded on a competitive basis to children of employees of U.S. PACCAR entities. A scholarship applicant must have been a dependent, for federal tax purposes, of an employee parent or in the legal custody of an employee parent for at least two years prior to the application deadline. A volunteer employee selection committee recommends award winners for approval by the Foundation s Board of Directors. For more information or an application, contact your Human Resources representative. Employee Computer Purchase Program This program offers you the opportunity to purchase a personal computer, software and equipment through an interest-free loan from the Company. To be eligible, you must be a salaried employee grade 32 and below with at least one year of service. How it Works PACCAR finances the purchase price of an approved computer and peripheral hardware and software. The loan is interest free and is repaid in equal installments over 12 months through convenient payroll deductions. Payroll deductions begin as soon as PACCAR issues its check to you or the retailer (for delivery by you to the retailer). The minimum loan amount is $500 and the maximum is $1,000. You may only take one loan under the program. You may repay your loan in full at any time without penalty. Items Approved The following items are approved under the Employee Computer Purchase Program: Anti-virus software Computers for home use Docking stations Modems Professional, technical or educational software (Excel, PowerPoint, Access, Word, etc.) Removable storage devices (zip drives, etc.) Printers If you already have a system, you can use this program to purchase compatible computer peripherals such as a monitor, a hard drive or a modem, as long as the loan amount falls within the range stated above. PACCAR U.S. Salaried Employee Handbook January 2014 Additional Benefits and Resources 10

11 Items Not Approved The following items are not approved under the Employee Computer Purchase Program: Digital cameras Extended warranties Game software Furniture Personal digital assistants Scanners If you leave PACCAR, you must immediately pay off your loan. However, if you retire or are laid off, you may continue to make monthly payments to PACCAR in the same amount until your loan is paid in full. Contact your Human Resources representative for further information. Travel Assistance Services As part of your basic and optional accidental death and dismemberment (AD&D) insurance, you and your spouse, if your spouse is enrolled for optional AD&D insurance, can use the AIG Benefits Travel Assist Program which provides 24-hour assistance anywhere in the world while you are away from home or your regular place of employment, including: Medical assistance, including medical emergency evacuation, Travel assistance (lost/stolen baggage and passports, legal referrals, etc.), Concierge services (ground transportation coordination, restaurant referrals and reservations, etc.), Security assistance, including security and safety advisories, and 24-hour response services to assist you and your family during an incident, Identity theft assistance such as financial account investigation. See Travel Assistance Services Program in the Survivor Benefits Handbook for more detailed information. PACCAR U.S. Salaried Employee Handbook January 2014 Additional Benefits and Resources 11

12 HELP WITH FINANCIAL SECURITY Employee Stock Purchase Plan The PACCAR Inc Employee Stock Purchase Plan provides employees an affordable and convenient method to purchase PACCAR stock. PACCAR has made an agreement with Computershare, a financial market services and technology provider for the global securities industry, to enable employees to become shareholders of the Company. Participation in the Plan is entirely voluntary, and the Company makes no recommendations regarding participation. Eligibility All employees are eligible to participate. Purchasing Stock Enrollment If you chose to participate in the Plan, you must complete and submit an enrollment form to your Human Resources representative. You can obtain forms from your Human Resources representative or on the HR Service Center Intranet at: web.paccar.com. Payroll Deductions Purchases occur based on the amount you invest each pay period. You decide how much to invest (minimum $10 per paycheck rounded to the whole dollar), and the Company will deduct this amount from each paycheck. Purchase Price Stock prices vary from day to day and even from hour to hour, depending on the price at which owners of stock are willing to sell it and the price buyers are willing to pay. Your account will be credited with stock purchased at the average of the market price of PACCAR stock purchased for all employee payroll deductions. Dividend Reinvestment Your account will be credited with all cash dividends due to you. These dividends are automatically reinvested to purchase more PACCAR stock for your account. Alternatively, you may instruct Computershare to distribute cash dividends directly to you. Account Information Your Account with Computershare PACCAR U.S. Salaried Employee Handbook January 2014 Additional Benefits and Resources 12

13 Computershare manages account records. Each calendar quarter, you will be mailed a summary statement detailing the activity in your account for the quarter. Once you own one full share of stock, Computershare will send you all notices of meetings, proxy statements, and any other material distributed by PACCAR for the benefit of its stockholders. To obtain information concerning your account, contact Computershare online at www-us.computershare.com/employee or by calling the following number, Monday through Friday, 8:00 a.m. to 7:00 p.m. (EST); Domestic (toll free); Foreign (toll charges will apply). Fees PACCAR will pay the Computershare service fees and charges for stock purchases made through payroll deduction in your account. Commission fees on dividend reinvestments to your account are paid for by you. Computershare s fees and other charges resulting from sales, or in connection with purchases not made through payroll deduction, will be payable directly by you when you initiate such transactions. Tax Information Each year Computershare provides you with reportable dividend information necessary to file your tax return. To avoid negative tax treatment, you must certify your tax status by completing a W9 form for U.S. tax filers or W8-BEN form for Non-U.S. tax filers. You can certify your account on the Web or through the Interactive Voice Response (IVR). Making Changes to Your Account Payroll Deductions To change the amount of your payroll deduction or to discontinue your payroll deduction, fill out an Employee Stock Purchase Plan form and return it to your Human Resources representative. You can obtain forms from your Human Resources representative or on the HR Service Center Intranet site. Selling Your Shares You may sell all or part of your stock in your account at any time. If you instruct Computershare to sell any or all of your shares, they will be sold at the first available trade on the next business day. You will receive a check for the amount, with deducted commission fees. You may also request delivery of full shares, subject to a fee, along with a check for the net proceeds of the sale of fractional shares. Termination of Employment If your employment is terminated, you will need to move your shares and close your account currently held with Computershare. You will have the following three options: PACCAR U.S. Salaried Employee Handbook January 2014 Additional Benefits and Resources 13

14 Option 1: Request Computershare to sell your stock and send the proceeds to you. Option 2: Request a Direct Registration System Transfer which transfers your shares directly to PACCAR s transfer agent, Wells Fargo. Option 3: Request Computershare to transfer your stock to your personal brokerage account. Commissions on sales and other normal changes such as transfer fees are payable by you. Administrative Information Computershare Contact Information Online. Your may access your account information online at: www-us.computershare.com/employee. Interactive Voice Response (IVR). You may access your account information through the IVR, 24 hours a day, seven days a week. Here s what you need to get started: Step 1: From a touch-tone phone, dial either Domestic (toll free) or Foreign (toll charges will apply). Step 2: Enter your nine-digit account number or social security number followed by the # sign. Step 3: Enter your five-digit PIN followed by the # sign. Separation Pay Plan Eligibility You are eligible to participate in this Plan if you are a regular (20 or more hours a week) U.S. salaried employee of the following PACCAR Inc divisions or subsidiaries: Corporate Dynacraft Kenworth Truck Company PACCAR Financial Corp. PACCAR Financial Services Corporation PACCAR Information Technology Division PACCAR Leasing Corporation PACCAR Parts Division PACCAR Technical Center PACCAR Winch PACCAR U.S. Salaried Employee Handbook January 2014 Additional Benefits and Resources 14

15 Peterbilt Motors Company PACCAR Engine Company Temporary and on-call employees, or employees who have an individual contract of employment which omits separation pay benefits, are not eligible to participate. You are entitled to benefits under this Plan if you are laid off due to business conditions or restructuring. You are not entitled to benefits if you: Resign, are dismissed or transfer within the Company, Are on a temporary layoff of less than 90 days, Are employed by another company through the purchase of your operating unit, or Decline a transfer to a PACCAR division or subsidiary within 30 miles of your current workplace to a position of equal or greater pay. How Separation Pay Works The table below shows the number of hours of separation pay you are eligible for, based on your years of service. Partial years are rounded to the nearest full quarter. Your service includes your active service as a PACCAR Inc employee. Your Years of Service Less than one year One through four years Five through nine years Hours of Separation Pay 20 hours 20 hours per year of service 30 hours per year of service 10 or more years 40 hours per year of service up to 1,040 hours In addition to separation pay, you may be eligible for notice time pay if you had less than 30 days notice regarding your layoff. Here s how notice time benefits are paid: Your Notice Time Less than two weeks Between two weeks and 30 days Hours of Notice Time Pay 80 hours (in addition to Separation Pay) 40 hours (in addition to Separation Pay) 30 or more days 0 hours (in addition to Separation Pay) Example Assume your rate of pay is $630 a week ($15.75/ hour) and you have four years and five months of service. If you are laid off with only two weeks notice, here s how your separation pay is calculated: PACCAR U.S. Salaried Employee Handbook January 2014 Additional Benefits and Resources 15

16 Step 1: Calculate your hours of separation pay 4.5 years x 20 hours = 90 hours of separation pay Step 2: Calculate your separation pay payment 90 hours x $15.75/hour = $1, Step 3: Since you had less than 30 days notice regarding your layoff, calculate your notice time payment 40 hours x $15.75/hour = $630 Step 4: Add your separation pay and notice time payments $1, $630 = $2, Your total payment from the Plan is $2, This amount will be reduced by any other termination payments you receive. Other Separation Pay Details Should you experience a second layoff, the amount of the second separation payment will be calculated based on your rehire date, not your original date of employment. If the employee is rehired by any Company business following a layoff and the layoff period is less than the paid separation pay, they will be required to reimburse the Company for the difference. This payback schedule will be determined at the time of rehire and may be paid back by check or via payroll deduction. If you are laid off with separation pay, are subsequently rehired by PACCAR (and had to pay back separation pay to the Company), and are laid off again, you will receive: Notice time pay plus hours of separation pay based on your most recent rehire date, and Any hours of separation pay paid back to the Company because your layoff period was less than your separation pay. Separation and notice time pay is prorated for active service between 20 and 40 hours per week. Example Assume you have 10 years of service seven years at 40 hours per week and three years at 25 hours per week. If you are laid off with no notice time, here s how your separation pay hours are calculated: PACCAR U.S. Salaried Employee Handbook January 2014 Additional Benefits and Resources 16

17 Step 1: Calculate your prorated percentage of separation pay 7 years = 70% of total service time plus 3 years = 30%, for a total of 100% 70% of service time at full time 40 hours per week = 70% 30% of service time at part time 25 hours/40 hours = 62.5%; 30% (.30) x 62.5% (.625) =.1875 or 18.75% Total prorated percentage = 88.75% Step 2: Calculate your hours of separation pay 10 years x 40 hours = 400 hours of separation pay Step 3: Add your notice time hours 400 hours + 80 hours = 480 hours Step 4: Calculate your prorated separation pay hours 480 hours x 88.75% (.8875) = 426 hours If your cumulative temporary layoffs exceed 90 days in any 12-month period, you will be paid normal separation pay. Lastly, separation pay under this Plan is inclusive of and offset by any other termination payment made by the Company, including any amounts paid pursuant to federal, state, or local government worker notification or worksite closing requirements. Contact your Human Resources representative for more information about the Separation Pay Plan. PACCAR U.S. Salaried Employee Handbook January 2014 Additional Benefits and Resources 17

18 What Happens If... You ve been offered a job with like pay and circumstances, and do not take it? Will you receive separation pay? No You ve been offered a job with less pay and circumstances, and accept it? Will you receive separation pay? No You ve been offered a job with substantially less pay and different work, and do not take it? Will you receive separation pay? Yes Your work is contracted out to another employer and your job is being eliminated? Will you receive separation pay? Yes PACCAR U.S. Salaried Employee Handbook January 2014 Additional Benefits and Resources 18