The collective bargaining agreement between the College of Insurance and the college's chapter of the American Association of University Professors covering the period September 10, 1987-August 31, 1990 is presented. Items covered in the agreement include: unit recognition, management rights, grievance and arbitration, strikes/lockouts, no discrimination clause, academic freedom, teaching and library faculty rank, appointments and promotion for nontenured full-time teaching and library faculty, notice of nonreappointment faculty, eligibility for tenure, review of tenure application, denial of tenure, termination of tenure, effect of termination of appointment of tenured faculty, faculty responsibilities and evaluation, academic division chairpersons, library chairpersons, union dues and checkoff, library faculty, faculty salaries, employee benefit plans, holidays, leaves of absence, tuition remission program, contract construction, severance payments, the academic schedule, conferences, and academic governance. (SW)