The terms and conditions of employment of an employee who is bound by an applicable collective agreement may include any additional terms and conditions that are—
mutually agreed to by the employee and the employer, whether before, on, or after the date on which the employee became bound by the collective agreement; and
not inconsistent with the terms and conditions in the collective agreement.
If the applicable collective agreement expires or the employee resigns from the union that is bound by the agreement,—
the employee is employed under an individual employment agreement based on the collective agreement and any additional terms and conditions agreed under subsection (1); and
the employee and employer may, by mutual agreement, vary that individual employment agreement as they think fit.