JOINT PARTNERSHIP TRUST Clause Samples
The Joint Partnership Trust clause establishes a legal arrangement in which two or more parties hold and manage assets collectively for the benefit of the partnership. Under this clause, the partners typically contribute property, funds, or other resources to a trust, which is then administered according to agreed terms, such as for investment, business operations, or asset protection. This structure helps clarify ownership interests, centralizes management, and can provide liability protection, ultimately ensuring that the partnership’s assets are managed transparently and in accordance with the partners’ shared objectives.
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JOINT PARTNERSHIP TRUST. The Partnership Trust has been established for the purpose of funding labor management administration and Partnership activities. Changes in the Employer’s overall funding of Partnership expenses, including Partnership Trust contributions, training and education development, administration and technical and consulting support expenses necessary to implement/advance the Partnership, shall be at least proportional to employee contributions as described below. An amount equal to nine cents per hour per employee will be contributed to the Partnership Trust throughout the term of this Agreement, consistently across the Program. The purpose of the employee contribution is employee ownership of the Partnership, sponsorship of increased union capacity and shared ownership of outcomes and performance gains. LMP Trust Fund contributions by the Employer will be as follows: California $6 million $4 million $2 million National $10 million $11 million $12 million The Partnership Trust is overseen by the Strategy Group and is jointly administered. There will be up to six trustees consisting of equal numbers of union and management representatives from the Strategy Group. The trustees serve under the direction of the Strategy Group.
JOINT PARTNERSHIP TRUST. The Partnership Trust has been established for the purpose of funding labor management administration and Partnership activities. Changes in the Employer’s overall funding of Partnership expenses, including Partnership Trust contributions, training and education development, administration and technical and consulting support expenses necessary to implement/ advance the Partnership, shall be at least proportional to employee contributions as described below. An amount equal to nine cents per hour per employee will be contributed to the Partnership Trust throughout the term of this Agreement, consistently across the Program. The purpose of the employee contribution is employee ownership of the Partnership, sponsorship of increased union capacity and shared ownership of outcomes and performance gains. Effective October 1, 2021, the Employer will contribute to the ▇▇▇▇▇▇ Permanente- Alliance of Health Care Unions Labor Management Partnership Trust at the rate of $8 million annually. Each year of this Agreement, the Employer will contribute an additional amount equal to 2% of the parties' total combined contributions. In addition, on April 1, 2022, ▇▇▇▇▇▇ Permanente will make a one-time contribution of $1 million for reserves/additional expense to support the work of the Affordability and Competitiveness Task Force. The Partnership Trust is jointly administered by a Board of Trustees consisting of union and management representatives. There will be up to 10 trustees consisting of equal numbers of union and management representatives. The Board of Trustees has overall responsibilities for managing the Partnership Trust, including the adoption of a budget designed to advance the purposes and priorities of the Partnership as established by this National Agreement and the Strategy Group.
JOINT PARTNERSHIP TRUST. The Partnership Trust has been established for the purpose of funding labor management administration and Partnership activities. Changes in the Employer’s overall funding of Partnership expenses, including Partnership Trust contributions, training and education development, administration and technical and consulting support expenses necessary to implement/advance the Partnership, shall be at least proportional to employee contributions as described below. An amount equal to nine cents per hour per employee will be contributed to the Partnership Trust throughout the term of this Agreement, consistently across the Program. The purpose of the employee contribution is employee ownership of the Partnership, sponsorship of increased union capacity and shared ownership of outcomes and performance gains. 2015 2016 2017 California $2 million $2 million $2 million National $15 million $15 million $15 million LMP Trust Fund contributions by the Employer will be as follows: The Partnership Trust is jointly administered by a Board of Trustees consisting of union and management representatives. There will be up to six trustees consisting of equal numbers of union and management representatives. The Board of Trustees has overall responsibilities for managing the Partnership Trust, including the adoption of a budget designed to advance the purposes and priorities of the Partnership as established by this National Agreement and the Strategy Group.
JOINT PARTNERSHIP TRUST. The Partnership Trust has been established for the purpose of funding labor management administration and Partnership activities. Changes in the Employer’s overall funding of Partnership expenses, including Partnership Trust contributions, training and education development, administration and technical and consulting support expenses necessary to implement/advance the Partnership, shall be at least proportional to employee contributions as described below. An amount equal to nine cents per hour per employee will be contributed to the Partnership Trust throughout the term of this Agreement, consistently across the Program. The purpose of the employee contribution is employee ownership of the Partnership, sponsorship of increased union capacity and shared ownership of outcomes and performance gains. The Employer will contribute to the LMP Trust Fund at the rate of $6 million annually, prorated for 2019 from the effective date of this Agreement. An amount equal to nine cents per hour per employee will be contributed to the Partnership Trust throughout the term of this agreement, consistent across the Program. The Partnership Trust is jointly administered by a Board of Trustees consisting of union and management representatives. There will be up to six trustees consisting of equal numbers of union and management representatives. The Board of Trustees has overall responsibilities for managing the Partnership Trust, including the adoption of a budget designed to advance the purposes and priorities of the Partnership as established by this National Agreement and the Strategy Group.
JOINT PARTNERSHIP TRUST. We need to define how we will financially support the development of the UBTs and the backfill of employees.
JOINT PARTNERSHIP TRUST. The Partnership Trust has been established for the purpose of funding labor management administration and Partnership activities. Changes in the Employer’s overall funding of Partnership expenses, including Partnership Trust contributions, training and education development, administration and technical and consulting support expenses necessary to implement/advance the Partnership, shall be at least proportional to employee contributions as described below. The Employer contribution to the Partnership Trust will be $10,000,000 annually. An amount equal to nine cents per hour per employee will continue to be contributed to the Partnership Trust throughout the term of this Agreement, using the current or jointly acceptable alternative methodologies. The purpose of the employee contribution is employee ownership of the Partnership, sponsorship of increased union capacity and shared ownership of outcomes and performance gains. The Partnership Trust is overseen by the Strategy Group and is jointly administered. There will be up to six trustees consisting of equal numbers of union and management representatives from the Strategy Group. The trustees serve under the direction of the Strategy Group.
JOINT PARTNERSHIP TRUST. A joint Labor Management Partnership Trust will be established for the purpose of funding Labor Management administration and Partnership activities. ▇▇▇▇▇▇ Permanente will contribute at its current rate adjusted annually in accordance with general budget inflationary factors. Changes in the Employer’s overall funding of partnership expenses, including Partnership Trust contributions, training and education development, administration, technical and consulting support expenses necessary to implement/advance the Partnership shall be at least proportional to employee contribution escalation as described below. An amount equal to five cents per hour per employee will be contributed to the Partnership Trust in the first contract year. For subsequent years, the Coalition of ▇▇▇▇▇▇ Permanente Unions will be responsible for developing a methodology for continuing the payment of five cents per hour per employee and a one cent per hour annual escalator. The purpose of the employee contribution is employee ownership of the partnership, sponsorship of increased union capacity and shared ownership of outcomes and performance gains. The Partnership Trust will be overseen by the Strategy Group and will be jointly administered. Its four trustees, two union and two management, will consist of the partnership labor and management co-chairs of the Strategy Group and one other union and management representative. The trustees will serve under the direction of the Strategy Group and accept fiduciary responsibility for the Partnership Trust.
JOINT PARTNERSHIP TRUST. The Partnership Trust has been established for the purpose of funding labor management administration and Partnership activities. Changes in the Employer’s overall funding of Partnership expenses, including Partnership Trust contributions, training and education development, administration and technical and consulting support expenses necessary to implement/advance the Partnership, shall be at least proportional to employee contributions as described below. An amount equal to nine cents per hour per employee will be contributed to the Partnership Trust throughout the term of this Agreement, consistently across the Program. The purpose of the employee contribution is employee ownership of the Partnership, sponsorship of increased union capacity and shared ownership of outcomes and performance gains. LMP Trust Fund contributions by the Employer will be as follows: 20122015 2016 20142017 California $6 2 million $4 2 million $2 million National $10 15 million $11 15 million $12 15 million The Partnership Trust is overseen by the Strategy Group and is jointly administered .by a Board of Trustees consisting of union and management representatives. There will be up to six trustees consisting of equal numbers of union and management representatives. from the Strategy Group. The trustees serve under the direction of the Strategy Group. The Board of Trustees has overall responsibilities for managing the Partnership Trust, including the adoption of a budget designed to advance the purposes and priorities of the Partnership as established by this National Agreement and the Strategy Group.
JOINT PARTNERSHIP TRUST. The Partnership Trust has been established for the purpose of funding labor management administration and Partnership activities. Changes in the Employer’s overall funding of Partnership expenses, including Partnership Trust contributions, training and education development, administration and technical and consulting support expenses necessary to implement/ advance the Partnership, shall be at least proportional to employee contributions as described below. An amount equal to nine cents per hour per employee will be contributed to the Partnership Trust throughout the term of this Agreement, consistently across the Program. The purpose of the employee contribution is employee ownership of the Partnership, sponsorship of increased union capacity and shared ownership of outcomes and performance gains. Effective October 1, 2021, the Employer will contribute to the ▇▇▇▇▇▇ Permanente- Alliance of Health Care Unions Labor Management Partnership Trust at the rate of $8 million annually. Each year of this Agreement, the Employer will contribute an additional amount equal to 2% of the parties' total combined contributions. In addition, on April 1, 2022, ▇▇▇▇▇▇ Permanente will make a one-time contribution of $1 million for reserves/additional expense to support the work of the Affordability and Competitiveness Task Force. Note: This contract is complete with the exception of the UFCW Local 3000 pension language. The table of contents, pagination, and indexing may change once the UFCW Local 3000 pension language is resolved.
JOINT PARTNERSHIP TRUST. The Partnership Trust has been established for the purpose of funding labor management administration and Partnership activities. Changes in the Employer’s overall funding of Partnership expenses, including Partnership Trust contributions, training and education development, administration and technical and consulting support expenses necessary to implement/advance the Partnership, shall be at least proportional to employee contributions as described below. An amount equal to nine cents per hour per employee will be contributed to the Partnership Trust throughout the term of this Agreement, consistently across the Program. The purpose of the employee contribution is employee ownership of the Partnership, sponsorship of increased union capacity and shared ownership of outcomes and performance gains. The Employer will contribute to the ▇▇▇▇▇▇ Permanente – Alliance of Health Care Unions Labor Management Partnership Trust at the rate of $8 million annually, prorated for 2018 from the effective date of this Agreement. In addition, to assist with start-up costs, ▇▇▇▇▇▇ Permanente will contribute $2 million in 2018, and $2 million in 2019. The Partnership Trust is jointly administered by a Board of Trustees consisting of union and management representatives. There will be up to ten trustees consisting of equal numbers of union and management representatives. The Board of Trustees has overall responsibilities for managing the Partnership Trust, including the adoption of a budget designed to advance the purposes and priorities of the Partnership as established by this National Agreement and the Strategy Group.