Common use of It is also further Clause in Contracts

It is also further. understood and agreed by the parties that this Plan is an Employee welfare benefit plan and that this Plan will be funded out of the Union membership’s designated wage allocation as determined by the Union. It is the intent of the parties that the maximum total funding for this plan shall not exceed fifteen cents ($.15) per year during the term of this Agreement or any future agreement, unless expressly agreed to by the parties in writing.