TRUST FUNDS

=‘ Training Fund: Effective date of signing, the employer will contribute to the Local 740 Training Fund the sum of sixty-five cents ($0.65) for each hour earned by each employee and will remit the said amount in accordance with the Trust Agreement hereafter.

A Pension: The employers will contribute to the employee’s Pension Fund the sum of six dollars ($6.00) for each hour earned by employee on commercial work and seven dollars and twenty-five cents ($7.25) for each hour earned by employees on industrial work. B Defined Contribution Provision: Effective date of signing Employees who are not eligible for pension contributions pursuant to the Income Tax Act, the applicable hourly contribution amounts for the pension contribution set out in article 25.03 and/or the attached wage classifications for each hour earned, the employer shall remit said amounts into a defined contribution plan in accordance with the trust agreement hereafter. This applies to any employee who is receiving a monthly pension from the UA Local 740 Pension Plan. C After October of the calendar year when an employee reaches the age of 71, an & amount equal to the pension contribution rate shall be paid by the employer to the employee in the form of wages. Bs \

M.C.A.N.L. General Industry Promotion Funds: Each employer shall contribute twenty cents ($0.20) per hour earned by each employee under the terms of the Agreement for the purposes of administering all matters related to the Mechanical Contractors Association of Newfoundland and Labrador which shall include every facet of the mechanical contracting industry and for all other functions and items as established by the Trustees of this fund.

General Industry Fund Trustees: The Trustees of the General Industry Fund shall be appointed by the Mechanical Contractors Association of Newfoundland and Labrador. The complete policies, management and control of the Fund shall be controlled by the Board of Trustees. This Fund shall be used for the purpose of and in accordance with the Trust Agreement.

U.A. Local 740 Building Fund: Effective date of signing, each employer shall contribute twenty-five cents ($0.25) per hour earned by each employee under the terms of the Agreement to the U.A. Local 740 Building Fund.

Rate Stabilization Fund: Effective date of signing, each employer shall contribute one dollar ($1.00) per hour earned to the Rate Stabilization Fund. If this fund should be deleted through future negotiations, the hourly contribution shall go back to the wage package. The fund shall be jointly administered in accordance with RSF Agreement and Declaration of Trust.

Trustees of the U.A. Local 740 Training Fund shall be six (6) in number comprising of three (3) union nominees, three (3) nominees of the CLRA. A quorum shall consist of four (4) members. The complete policies, management and control of the fund will be controlled by this Board of Trustees. This Fund shall be used for the purpose of and in accordance with the Trust Agreement and made among the parties of this Agreement.

Contributions to the foregoing Funds shall be due and payable in St. John’s, Newfoundland, and shall be made in regular monthly remittances, cheque payable at par to the trust company or trust account designated by the Trustees of the Funds. All such procedures as are prescribed by the Trustees. Contractors shall make best efforts to remit funds electronically.

All contributions to the funds shall be due and payable on or before the 10" day of the calendar month following the month in which the obligation arose to pay the contributions. The monthly contributions shall arise as agreed upon in any existing or future Collective Agreements and shall include all obligations which have arisen for work performed by an employee up to and including the last day of the preceding calendar month. Each monthly contribution shall be accompanied by a report form as prescribed by the Trustees of the Funds, and should the employer have no employees during the month for which contributions would be owing and payable, they shall remit a “nil” report, indicating that they have no employees working under the terms of this Agreement.

Delinquent Payment and Inspection: The duly appointed representative of the Trustees shall inspect, by appointment with the Employer, the Employer's payroll to SDb.F ascertain whether contributions to the Funds have been made as required by the Agreement, and should it be determined that such contributions have not been made, the employer shall be liable, in addition to the contributions, for the cost of such inspection and audit.

It is agreed that timely contribution to the Trust Funds provided for in this Agreement is essential for the protection of the beneficiaries, it is also agreed that delinquency and continued failure to remit these contributions to the Trust Funds is a breach of the Agreement under which the employer is bound and it shall not be a violation of this Agreement for the Union to remove employees covered by the terms of this Agreement from the jobs of a delinquent employer.

. The employer and the union agree that all funds specified above shall remain in full effect after the expiry date of this Agreement and will become part and parcel of any future agreement between the employer and the union which may from time to time be entered into.

Each of the funds referred to in this Article shall be governed by and administered pursuant to separate Trust Agreements which shall be subject to the approval of the employer and the Union.

The employers will have the authority to increase the amount of contributions at any time during the life of this Agreement.

The employer and the union agree that all funds specified above shall remain in full effect after the expiry date of this Agreement and will become part and parcel of any future agreement between the employer and the union which may from time to time be entered into.

Each of the funds referred to in this Article shall be governed by and administered pursuant to a separate Trust Agreement which shall be subject to the approval of the employer and the Union.