Common use of Trust Funds Clause in Contracts

Trust Funds. 19:01 Where an Employee performs work that would require the Employer to contribute hourly contributions to each of the Trust Funds in the amounts specified in this Collective Agreement, then the Employer shall keep, and shall be deemed to have kept, such amounts separate and apart from his own monies and shall be deemed to hold the sums so deducted in trust on behalf of Employees until the Employer has paid such monies to the applicable Trust Fund. Further, in the event of any liquidation, assignment, or bankruptcy of such an Employer, an amount equal to the amount that is owed to the applicable Trust Fund by the Employer on whose behalf Employees have performed work entitling them to receive contributions to the applicable Fund as is herein before provided for, is deemed to be held in Trust for the Trustees of that Trust Fund and such funds shall be deemed to be separate from, and form no part of, the estate in liquidation, assignment, or bankruptcy, whether or not that amount has in fact been kept separate and apart from the Employer's own money or from the assets of the estate. The Joint Board of Trustees are hereby empowered and authorized to do all things necessary for the administration of the Funds, including entering into or amending the necessary Trust Agreements on behalf of the Employers and the Union. Each Employer shall furnish a statement of the number of Millwright Employees covered by the Collective Agreement and the hours worked by such Employees. Such statement and contributions to be submitted by the 15th day of the month following the month for which such contributions are payable. For the Apprenticeship Fund and the Trade Enhancement Fund such statement and contributions to be mailed to the Millwrights Union Local 1021. For the Health & Welfare Trust Fund and the Group Registered Savings Plan (GRSP) Trust Fund, such statement and contributions to be mailed to Funds Administrative Service Inc., ▇▇▇ ▇▇▇▇▇, ▇▇▇▇-▇▇▇ ▇▇▇▇▇▇, ▇▇▇▇▇▇▇▇, ▇▇▇▇▇▇▇, ▇▇▇ ▇▇▇. If any Employer shall fail to remit payments required to be made pursuant to the terms of this Article as determined by the Trustees of a Trust Fund, and if such default continues for ten calendar days after the amounts payable are due, the Employer shall pay to the applicable Trust Fund, as liquidated damages (in respect to increased administration costs, the costs of monitoring and enforcing payment, and other costs) and not as a penalty, an amount equal to 10% of the amount which the Employer has failed to remit. The failure by an Employer to make payments due in each month shall constitute a separate event and of default and shall subject the Employer to payment of liquidated damages as outlined above, provided that, in calculating the amount of liquidated damages payable the amounts due in respect to a preceding period where liquidated damages have been calculated shall not be included in calculating further liquidated damages. However, interest calculated at a rate of 2% per month shall accrue and be paid by the Employer on any unpaid arrears, including liquidated damages, calculated from the original due date until the date of payment.

Trust Funds. 19:01 Where an Employee performs work that would require Contributions to the International Painters and Allied Trades Industry Pension Fund, IUPAT Annuity Fund and the Finishing Trades Institute and the Painters and Allied Trades Labor Management Cooperation Initiative 1. For the duration of this Agreement, and any renewals or extensions thereof, the Employer agrees to contribute hourly contributions make payments to the International Painters and Allied Trades Industry Pension Fund (“the Pension Fund”), the IUPAT Annuity Fund the Finishing Trades Institute (“FTI”) and the Painters and Allied Trades Labor Management Cooperation Initiative (“LMCI”) for each employee covered by this Agreement as follows: a. For each hour or portion of an hour for which an employee receives pay, the Employer shall make a contribution as per Article 30 of this Agreement to the Industry Pension Fund, IUPAT Annuity Fund, FTI and to the LMCI. (Contributions must be made for each hour paid by the Employer, except that, when overtime rates apply, a contribution need be made for only the actual hour(s) worked) b. Contributions shall be paid on behalf of any employee starting with the employee’s first hour of employment in a job classification covered by this Agreement. This includes but is not limited to, apprentices, journeypersons, trainees and probationary employees. c. The payments to the Industry Pension Fund, the IUPAT Annuity Fund, Apprenticeship and LMCI Funds described above shall be made separately to each respective Fund or as otherwise set forth in written instructions that the Employer shall receive from the Administrator(s) of each respective fund. The Employer hereby understands, accepts and agrees to be bound by all provisions set forth in the Agreement and Declaration of Trust that has been adopted by the parties to each of the respective Funds identified above, including all amendments and modifications made thereto, and the Employer hereby agrees to be bound by and to said Agreements and Declaration of Trust as though it had actually signed the same. d. The Employer shall, with respect to any and all contributions or other amounts that may be due and owing to the IUPAT and its related or affiliated Funds or organizations, including but not limited to, the IUPAT Industry Pension Fund, the IUPAT Annuity Fund, the Finishing Trades Institute, the Painters and Allied Trades Labor Management Cooperation Initiative, the IUPAT Political Action Together (and any and all other affiliated International organizations as may be created or established in the amounts specified future), upon receipt of a written directive to do so by the affiliated Funds and organizations, make all required payments, either directly or through an intermediate body, to the “Central Collections” Unit of the International Union and its affiliated Funds and organizations. Such contributions shall be submitted on appropriate forms, in this Collective Agreementsuch format and with such information as may be required by Central Collections. 2. a. The Employer and Union hereby irrevocably designates as its representatives on the Board of Trustee of the IUPAT Industry Pension Fund, then the Employer shall keepFTI and the LMCI such Trustees as are now serving, and shall be deemed to have kept, such amounts separate and apart from his own monies and shall be deemed to hold the sums so deducted in trust on behalf of Employees until the Employer has paid such monies to the applicable Trust Fund. Further, who will in the event of any liquidation, assignment, or bankruptcy of such an Employer, an amount equal to the amount that is owed to the applicable Trust Fund by the Employer on whose behalf Employees have performed work entitling them to receive contributions to the applicable Fund as is herein before provided for, is deemed to be held in Trust for the Trustees of that Trust Fund and such funds shall be deemed to be separate from, and form no part of, the estate in liquidation, assignment, or bankruptcy, whether or not that amount has in fact been kept separate and apart from the Employer's own money or from the assets of the estate. The Joint Board of Trustees are hereby empowered and authorized to do all things necessary for the administration of the Funds, including entering into or amending the necessary Trust Agreements on behalf of the Employers and the Union. Each Employer shall furnish a statement of the number of Millwright Employees covered by the Collective Agreement and the hours worked by such Employees. Such statement and contributions to be submitted by the 15th day of the month following the month for which such contributions are payable. For the Apprenticeship Fund and the Trade Enhancement Fund such statement and contributions to be mailed to the Millwrights Union Local 1021. For the Health & Welfare Trust Fund and the Group Registered Savings Plan (GRSP) Trust Fund, such statement and contributions to be mailed to Funds Administrative Service Inc., ▇▇▇ ▇▇▇▇▇, ▇▇▇▇-▇▇▇ ▇▇▇▇▇▇, ▇▇▇▇▇▇▇▇, ▇▇▇▇▇▇▇, ▇▇▇ ▇▇▇. If any Employer shall fail to remit payments required to be made pursuant to the terms of this Article as determined by the Trustees of a Trust Fund, and if such default continues for ten calendar days after the amounts payable are due, the Employer shall pay to the applicable Trust Fundfuture serve, as liquidated damages (Employer and Union Trustees, together with their successors, as provided for in respect to increased administration costs, the costs of monitoring and enforcing payment, and other costs) and not as a penalty, an amount equal to 10% of the amount which the Employer has failed to remit. The failure by an Employer to make payments due in each month shall constitute a separate event and of default and shall subject the Employer to payment of liquidated damages as outlined above, provided that, in calculating the amount of liquidated damages payable the amounts due in respect to a preceding period where liquidated damages have been calculated shall not be included in calculating further liquidated damages. However, interest calculated at a rate of 2% per month shall accrue and be paid by the Employer on any unpaid arrears, including liquidated damages, calculated from the original due date until the date of paymentaforesaid trust indentures.

Trust Funds. 19:01 Where an Employee performs work that would require SECTION 1 Contributions to the International Union of Painters and Allied Trades Industry Pension Fund, The IUPAT FTI & IUPAT LMCI 1. For the duration of this Agreement, and any renewals or extensions thereof, the Employer agrees to contribute hourly contributions make payments to the International Union of Painters and Allied Trades Industry Pension Fund (“the Industry Pension Fund”), the IUPAT FTI and the IUPAT LMCI for each employee covered by this Agreement as follows: a. For each hour or portion of an hour for which an employee receives pay, the Employer shall make a contribution as per Article VI of this Agreement to the Industry Pension Fund, FTI and to the LMCI. (Contributions must be made for each hour paid by the Employer, except that, when overtime rates apply, a contribution need be made for only the actual hour(s) worked) b. Contributions shall be paid on behalf of any employee starting with the employee’s first hour of employment in a job classification covered by this Agreement. This includes but is not limited to, apprentices, journeypersons, trainees and probationary employees. c. The payments to the Pension, Apprenticeship and LMCI Funds described above shall be made separately to each respective Fund or as otherwise set forth in written instructions that the Employer shall receive from the Administrator(s) of each respective fund. The Employer hereby understands, accepts and agrees to be bound by all provisions set forth in the Agreement and Declaration of Trust that has been adopted by the parties to each of the respective Funds identified above, including all amendments and modifications made thereto, and the Employer hereby agrees to be bound by and to said Agreements and Declaration of Trust as though it had actually signed the same. d. The Employer shall, with respect to any and all contributions or other amounts that may be due and owing to the IUPAT and its related or affiliated Funds or organizations, including but not limited to, the IUPAT Industry Pension Plan, the IUPAT Industry Annuity Plan, the Finishing Trades Institute, the Painters and Allied Trades Labor Management Cooperation Initiative, the IUPAT Political Action Together (and any and all other affiliated International organizations as may be created or established in the amounts specified future), upon receipt of a written directive to do so by the affiliated Funds and organizations, make all required payments, either directly or through an intermediate body, to the “Central Collections” Unit of the International Union and its affiliated Funds and organizations. Such contributions shall be submitted on appropriate forms, in such format and with such information as may be required by Central Collections. a. The Employer hereby irrevocably designates as its representatives on the Board of Trustee of the Pension Fund, the FTI and the LMCI such Trustees as are now serving, and who will in the future serve, as Employer Trustees, together with their successors, as provided for in the aforesaid trust indentures. 3. All contributions to the Funds described in paragraph 1 hereof shall be made at such time and in such manner as the Trustees of each respective Fund may require, and the Trustees shall have the authority to have certified public accountant audit the payroll, wage and other relevant records of the Employer for the purpose of determining the accuracy of contributions to each respective Fund. 4. If an Employer fails to make contributions to any of the Funds described in paragraph 1 hereof within twenty 20) days after the date required by the Trustees, such failure shall be deemed a violation of this Collective Agreement and the Union shall have the right to take whatever steps are necessary to secure compliance with this Agreement, then any provisions hereof to the contrary notwithstanding, and the Employer shall keepbe liable for all costs of collecting the payments due, together with the attorneys’ fees and shall such penalties as may be deemed to have kept, such amounts separate and apart from his own monies and shall be deemed to hold assessed by the sums so deducted in trust on behalf Trustees of Employees until the Employer has paid such monies to the applicable Trust each respective Fund. Further, The Employer’s liability for payment under this provision shall not be subject to or covered by any “no strike” clause which may be provided or set forth elsewhere in this Agreement and such provisions shall not apply in the event of any liquidationa violation of this clause. 5. Each of the respective Funds described in paragraph 1 hereof shall, assignment, or bankruptcy at all times conform with the requirements of such an the Internal Revenue Code and other applicable laws and regulations so as to enable the Employer, an amount equal at all times, to the amount that is owed to the applicable Trust Fund by the Employer on whose behalf Employees have performed work entitling them to receive treat contributions to the applicable Fund as is herein before provided for, is deemed to be held in Trust for the Trustees of that Trust Fund and such funds shall be deemed to be separate from, and form no part of, the estate in liquidation, assignment, or bankruptcy, whether or not that amount has in fact been kept separate and apart from the Employer's own money or from the assets of the estate. The Joint Board of Trustees are hereby empowered and authorized to do all things necessary for the administration of the Funds, including entering into or amending the necessary Trust Agreements on behalf of the Employers and the Union. Each Employer shall furnish a statement of the number of Millwright Employees covered by the Collective Agreement and the hours worked by such Employees. Such statement and contributions to be submitted by the 15th day of the month following the month for which such contributions are payable. For the Apprenticeship Fund and the Trade Enhancement Fund such statement and contributions to be mailed to the Millwrights Union Local 1021. For the Health & Welfare Trust Fund and the Group Registered Savings Plan (GRSP) Trust Fund, such statement and contributions to be mailed to Funds Administrative Service Inc., ▇▇▇ ▇▇▇▇▇, ▇▇▇▇-▇▇▇ ▇▇▇▇▇▇, ▇▇▇▇▇▇▇▇, ▇▇▇▇▇▇▇, ▇▇▇ ▇▇▇. If any Employer shall fail to remit payments required to be made pursuant to the terms of this Article as determined by the Trustees of a Trust Fund, and if such default continues for ten calendar days after the amounts payable are due, the Employer shall pay to the applicable Trust Fund, as liquidated damages (in respect to increased administration costs, the costs of monitoring and enforcing payment, and other costs) and not them as a penalty, an amount equal to 10% of the amount which the Employer has failed to remit. The failure by an Employer to make payments due in each month shall constitute a separate event and of default and shall subject the Employer to payment of liquidated damages as outlined above, provided that, in calculating the amount of liquidated damages payable the amounts due in respect to a preceding period where liquidated damages have been calculated shall not be included in calculating further liquidated damages. However, interest calculated at a rate of 2% per month shall accrue and be paid by the Employer on any unpaid arrears, including liquidated damages, calculated from the original due date until the date of paymentdeduction for income tax purposes.

Trust Funds. 19:01 Where an Employee performs A. All employers shall be required to submit to the Trust Funds, on a form provided by the Trust Funds, a contribution report form each and every calendar month, signed by the employer, regardless of whether that employer had any employees for that particular month, together with payment for fringe benefits so reported. The report must be mailed (postmarked) to the Trust Funds, to be postmarked on or before the fifteenth (15th) day of the calendar month following the month in which such hours were worked. The Contribution Report Form shall contain the information described in paragraph C of this Section 1. The employer shall pay all fringe benefits for each hour worked by each employee on all work that would require covered by this Agreement, regardless of whether or not the Employer employee is a member of the Union. The fringe benefit payments will be made to contribute hourly contributions the appropriate trust fund, associated with the Union, for the fringe benefits described in Appendices A and B. The employer agrees to and shall be bound by all the terms and conditions, including any amendments hereafter made, to those trust agreements governing the trusts which sponsor or administer the pension, welfare and other benefits provided in this agreement, including, but not limited to, the Bricklayers And Allied Craftworkers Local No. 3 Health And Welfare Trust, the Bricklayers Local 7 Pension Trust, the Bricklayers Local No. 3 Pension Trust, the Bricklayers And Allied Crafts Local No. 3 Apprentice Training Trust and the International Union Of Bricklayers And Allied Craftsmen Pension Fund. The terms of this Article XIII shall apply to each and every Trust Fund referenced in this Agreement. Each employer hereby agrees that it does irrevocably designate and appoint the Association, the Northern California ▇▇▇▇▇ Contractors Multi-Employer Bargaining Association, its member associations and the employer-appointed trustees of the Trust Funds listed in the amounts specified preceding sentence as its attorneys in this Collective Agreementfact for the selection, then removal and substitution of trustees as provided in the Employer Trust Agreements as may be provided by or pursuant to said Trust Agreements. B. The Union and/or each Trust Fund, shall keepbe entitled to and may file a legal action to compel production of monthly reports, to compel production of payroll records and other relevant records for audit, and shall be deemed for the collection of any and all wages, fringe benefit contributions, Industry Funds and liquidated damages and interest due and owing by the employer and thereafter may settle or compromise such legal action. In the event it is necessary for the Union or the Trust Funds to have keptobtain legal counsel for any of these purposes, such amounts separate and apart from his own monies and shall be deemed to hold the sums so deducted in trust on behalf of Employees until Union or the Employer has paid such monies to the applicable Trust Fund. FurtherFunds shall, in addition to recovering payments of all amounts due and the event legal rate of any liquidationinterest thereon, assignment, or bankruptcy of such an Employer, an amount equal also be entitled to recover from the amount that is owed to the applicable Trust Fund by the Employer on whose behalf Employees have performed work entitling them to receive contributions to the applicable Fund as is herein before provided for, is deemed to be held in Trust for the Trustees of that Trust Fund employer their reasonable attorney’s fees and such funds shall be deemed to be separate from, and form no part of, the estate in liquidation, assignment, or bankruptcycosts incurred, whether or not that amount has any lawsuit is ever initiated. Each Trust Fund and the Union may institute legal proceedings described in fact been kept separate and apart from the Employer's own money or from the assets first sentence of the estate. The Joint Board of Trustees are hereby empowered and authorized to do all things necessary for the administration of the Fundsthis Section 1 (B), including entering into or amending the necessary Trust Agreements on behalf filing of a lawsuit, without having the Employers matter first heard and the Union. Each Employer shall furnish a statement of the number of Millwright Employees covered determined by the Collective Agreement Joint Board. C. Each monthly contribution to the Trust Funds shall be postmarked and mailed on or before the hours worked by such Employees. Such statement and contributions to be submitted by the 15th fifteenth (15th) day of the calendar month following the month for in which such contributions hours are worked. If not postmarked by the fifteenth (15th) day of the month, the contribution will be considered to be delinquent and subject to liquidated damages and interest. Each employer shall also prepare a monthly transmittal covering each employee who performs work subject to this Agreement setting forth the following information: Name of each employee, each employee’s Social Security Number, the number of hours worked by each employee in the appropriate geographical location, whether the employee is an apprentice or journeyman, and the gross amount of fringe benefits payable. For It shall be the Apprenticeship Fund responsibility of the employer to make sure the monthly contribution and report form is postmarked by the Post Office on or before the fifteenth (15th) day of the month. If such envelope containing the contribution and report form is postmarked after the fifteenth (15th) day of the month, such report form and contribution shall be considered delinquent, the employer shall be in breach of this Agreement and liquidated damages shall be assessed. The Association, NCPCA and the Trade Enhancement Fund such statement Union recognize and acknowledge that the regular and prompt payment of employer contributions to be mailed and report forms is essential to the Millwrights Union Local 1021. For maintenance of the Health & Welfare Trust Fund Funds, and it would be extremely difficult, if not impractical, to fix the Group Registered Savings Plan (GRSP) Trust Fund, such statement actual damage and contributions to be mailed to Funds Administrative Service Inc., ▇▇▇ ▇▇▇▇▇, ▇▇▇▇-▇▇▇ ▇▇▇▇▇▇, ▇▇▇▇▇▇▇▇, ▇▇▇▇▇▇▇, ▇▇▇ ▇▇▇. If any Employer shall fail to remit payments required to be made pursuant expense to the terms Trust Funds which would result from failure of this Article as determined by any employer to pay such monthly contributions and furnish contribution forms within the Trustees of a Trust Fundtime provided. Therefore, and if such default continues for ten calendar days after the amounts payable are due, the Employer shall pay to the applicable Trust Fund, as liquidated damages (in respect to increased administration costs, the costs of monitoring and enforcing payment, and other costs) and not as a penalty, an amount equal to 10% of the amount which the Employer has failed to remit. The failure by an Employer to make payments due in each month shall constitute a separate event and of default and shall subject the Employer to payment of liquidated damages as outlined above, provided that, in calculating the amount of liquidated damages to the Trust Funds resulting from any such failure shall be presumed to be the sum of one hundred dollars ($100.00) or ten percent (10%) of contributions reported as due, whichever amount is greater. If the delinquency persists over thirty (30) days, the charge will be twenty percent (20%) of the amount due. Such amount shall become due and payable to the amounts due in respect to a preceding period where Trust Funds by the delinquent employer as liquidated damages have been calculated shall and not be included in calculating further as a penalty and payable at the place where the contribution is payable on the day immediately following the date on which the contribution became delinquent. In addition to such liquidated damages. However, interest the delinquent employer shall also be liable for interest, calculated at a rate of 210% per month annum, on the amount of the delinquent contributions. D. No employer who is delinquent in contributions due under this Agreement shall accrue be entitled to employ, continue to employ, or request the dispatch of craftworkers under this Agreement. E. The Trustees of each Trust Fund shall have the authority to require any employer, employee, Union or Association signatory to or covered by this Agreement to submit to it any information, data, reports or documents reasonably relevant to and be paid suitable for the purpose of administration of the Trust Fund(s). Upon request by the Employer on any unpaid arrearsTrust Fund, each employer signatory hereto shall permit an auditor selected by the Trust Funds to enter upon the premises of such employer at a reasonable time or times and to examine the payroll records, the Federal and State Quarterly Contribution Reports and all other records requested by the auditor as necessary to conduct its inspection. Upon request by the Trustees, each employee covered under this Agreement shall permit an auditor, selected by the Trust Fund(s), to examine the Federal and State Income Tax Returns, W-2’s and other documents requested by the auditor to determine whether the employer or employers of such employee have made full and complete payment of all contributions required by this Agreement. In the event it is determined as a result of such examination that an employer has failed to make full and complete payment of contributions required by this Agreement, then said employer, in addition to immediately paying all amounts found due and owing, including liquidated damagesdamages and interest, calculated from shall forthwith pay all costs incurred for said examination in addition to any other payments required by this Agreement. The Association, Union, Trust Funds and employers agree that they will use their best efforts to secure compliance with any reasonable request made by any Trust Fund, the original due date until Union or the date of paymentNCPCA for any information, data, reports or documents described in this paragraph.

Trust Funds. 19:01 Where The Principal and Indemnitor agree and hereby expressly declare that all funds received by any Principal or Indemnitor, or due or to become due under any Bonded Contract, are trust funds, in which the Surety has an Employee performs work that interest, whether in the possession of any Principal or another, for the benefit of and payment to the Surety and all persons to whom the Principal incurs obligations in the performance of such Bonded Contract and to which the Surety would require be liable under such Bonded Contract, or for the Employer benefit of, payment to contribute hourly contributions to each or reimbursement of the Trust Funds in Surety for any liability, loss, cost or expense the amounts specified in Surety may sustain or incur under any Bond or which is otherwise recoverable under this Collective Agreement. If the Surety discharges any such obligation, then the Employer shall keep, and it shall be deemed entitled to have kept, assert the claims of any such amounts separate and apart from his own monies and shall be deemed to hold the sums so deducted in trust on behalf of Employees until the Employer has paid such monies person or entity to the applicable Trust Fundtrust funds. FurtherAny Principal shall, upon demand of the Surety and in implementation of the event of any liquidationtrust or trusts hereby created, assignment, deposit or bankruptcy of such cause to be deposited said trust funds either in an Employer, an amount equal to the amount that is owed to the applicable Trust Fund by the Employer on whose behalf Employees have performed work entitling them to receive contributions to the applicable Fund as is herein before provided for, is deemed account or separate accounts to be held by the Surety and/or in Trust an account or separate accounts with a bank, third-party contract escrow agent or similar depository approved by the Surety. Any or all of the aforementioned account or separate accounts shall be designated as a trust account or trust accounts for the Trustees deposit of such trust funds. The Principal and Indemnitor agree and hereby acknowledge that Trust Fund and the withdrawal(s) from any such funds trust account(s) by check, wire transfer, or similar instrument shall be deemed signed or executed by a representative of the Surety and/or any other designated signatory as may be directed by the Surety, including but not limited to be separate from, a third-party escrow agent. Said trust or trusts shall terminate on the payment by the Principal and form no part of, Indemnitor of all of the estate in liquidation, assignmentobligations for the payment of which the trust or trusts are hereby created, or bankruptcy, whether or not that amount has in fact been kept separate and apart upon the expiration of twenty (20) years from the Employer's own money or from the assets of the estate. The Joint Board of Trustees are hereby empowered and authorized to do all things necessary for the administration of the Fundsdate hereof, including entering into or amending the necessary Trust Agreements on behalf of the Employers and the Union. Each Employer whichever shall furnish a statement of the number of Millwright Employees covered by the Collective Agreement and the hours worked by such Employees. Such statement and contributions to be submitted by the 15th day of the month following the month for which such contributions are payable. For the Apprenticeship Fund and the Trade Enhancement Fund such statement and contributions to be mailed to the Millwrights Union Local 1021. For the Health & Welfare Trust Fund and the Group Registered Savings Plan (GRSP) Trust Fund, such statement and contributions to be mailed to Funds Administrative Service Inc., ▇▇▇ ▇▇▇▇▇, ▇▇▇▇-▇▇▇ ▇▇▇▇▇▇, ▇▇▇▇▇▇▇▇, ▇▇▇▇▇▇▇, ▇▇▇ ▇▇▇. If any Employer shall fail to remit payments required to be made pursuant to the terms of this Article as determined by the Trustees of a Trust Fund, and if such default continues for ten calendar days after the amounts payable are due, the Employer shall pay to the applicable Trust Fund, as liquidated damages (in respect to increased administration costs, the costs of monitoring and enforcing payment, and other costs) and not as a penalty, an amount equal to 10% of the amount which the Employer has failed to remit. The failure by an Employer to make payments due in each month shall constitute a separate event and of default and shall subject the Employer to payment of liquidated damages as outlined above, provided that, in calculating the amount of liquidated damages payable the amounts due in respect to a preceding period where liquidated damages have been calculated shall not be included in calculating further liquidated damages. However, interest calculated at a rate of 2% per month shall accrue and be paid by the Employer on any unpaid arrears, including liquidated damages, calculated from the original due date until the date of paymentfirst occur.

Trust Funds. 19:01 Where an Employee performs work that would require Contributions to the International Painters and Allied Trades Pension Fund, The Finishing Trades Institute and the Painters and Allied Trades Labor Management Cooperation Initiative 1. For the duration of this Agreement, and any renewals or extensions thereof, the Employer agrees to contribute hourly contributions make payments to the International Painters and Allied Trades Industry Pension Fund (“the Pension Fund”), the Finishing Trades Institute (“FTI”) and the Painters and Allied Trades Labor Management Cooperation Initiative (“LMCI”) for each employee covered by this Agreement as follows: a. For each hour or portion of an hour for which an employee receives pay, the Employer shall make a contribution as per Article VI of this Agreement to the Pension Fund, FTI and to the LMCI. (Contributions must be made for each hour paid by the Employer, except that, when overtime rates apply, a contribution need be made for only the actual hour(s) worked) b. Contributions shall be paid on behalf of any employee starting with the employee’s first hour of employment in a job classification covered by this Agreement. This includes but is not limited to, apprentices, journeypersons, trainees and probationary employees. c. The payments to the Pension, Apprenticeship and LMCI Funds described above shall be made separately to each respective Fund or as otherwise set forth in written instructions that the Employer shall receive from the Administrator(s) of each respective fund. The Employer hereby understands, accepts and agrees to be bound by all provisions set forth in the Agreement and Declaration of Trust that has been adopted by the parties to each of the respective Funds identified above, including all amendments and modifications made thereto, and the Employer hereby agrees to be bound by and to said Agreements and Declaration of Trust as though it had actually signed the same. d. The Employer shall, with respect to any and all contributions or other amounts that may be due and owing to the IUPAT and its related or affiliated Funds or organizations, including but not limited to, the IUPAT Industry Pension Plan, the IUPAT Industry Annuity Plan, the Finishing Trades Institute, the Painters and Allied Trades Labor Management Cooperation Initiative, the IUPAT Political Action Together (and any and all other affiliated International organizations as may be created or established in the amounts specified future), upon receipt of a written directive to do so by the affiliated Funds and organizations, make all required payments, either directly or through an intermediate body, to the “Central Collections” Unit of the International Union and its affiliated Funds and organizations. Such contributions shall be submitted on appropriate forms, in this Collective Agreementsuch format and with such information as may be required by Central Collections. 2. a. The Employer and Union hereby irrevocably designates as its representatives on the Board of Trustee of the Pension Fund, then the Employer shall keepFTI and the LMCI such Trustees as are now serving, and shall be deemed to have kept, such amounts separate and apart from his own monies and shall be deemed to hold the sums so deducted in trust on behalf of Employees until the Employer has paid such monies to the applicable Trust Fund. Further, who will in the event of any liquidation, assignment, or bankruptcy of such an Employer, an amount equal to the amount that is owed to the applicable Trust Fund by the Employer on whose behalf Employees have performed work entitling them to receive contributions to the applicable Fund as is herein before provided for, is deemed to be held in Trust for the Trustees of that Trust Fund and such funds shall be deemed to be separate from, and form no part of, the estate in liquidation, assignment, or bankruptcy, whether or not that amount has in fact been kept separate and apart from the Employer's own money or from the assets of the estate. The Joint Board of Trustees are hereby empowered and authorized to do all things necessary for the administration of the Funds, including entering into or amending the necessary Trust Agreements on behalf of the Employers and the Union. Each Employer shall furnish a statement of the number of Millwright Employees covered by the Collective Agreement and the hours worked by such Employees. Such statement and contributions to be submitted by the 15th day of the month following the month for which such contributions are payable. For the Apprenticeship Fund and the Trade Enhancement Fund such statement and contributions to be mailed to the Millwrights Union Local 1021. For the Health & Welfare Trust Fund and the Group Registered Savings Plan (GRSP) Trust Fund, such statement and contributions to be mailed to Funds Administrative Service Inc., ▇▇▇ ▇▇▇▇▇, ▇▇▇▇-▇▇▇ ▇▇▇▇▇▇, ▇▇▇▇▇▇▇▇, ▇▇▇▇▇▇▇, ▇▇▇ ▇▇▇. If any Employer shall fail to remit payments required to be made pursuant to the terms of this Article as determined by the Trustees of a Trust Fund, and if such default continues for ten calendar days after the amounts payable are due, the Employer shall pay to the applicable Trust Fundfuture serve, as liquidated damages (Employer and Union Trustees, together with their successors, as provided for in respect to increased administration costs, the costs of monitoring and enforcing payment, and other costs) and not as a penalty, an amount equal to 10% of the amount which the Employer has failed to remit. The failure by an Employer to make payments due in each month shall constitute a separate event and of default and shall subject the Employer to payment of liquidated damages as outlined above, provided that, in calculating the amount of liquidated damages payable the amounts due in respect to a preceding period where liquidated damages have been calculated shall not be included in calculating further liquidated damages. However, interest calculated at a rate of 2% per month shall accrue and be paid by the Employer on any unpaid arrears, including liquidated damages, calculated from the original due date until the date of paymentaforesaid trust indentures.

Trust Funds. 19:01 Where an Employee performs work that would require (a) Upon the Employer to contribute hourly contributions to each written request of the Company, the Reinsurer may at its option provide funds in Trust for the benefit of the Company as an alternative or supplement to Letter(s) of Credit. Any such Trust Funds shall be held in accordance with the applicable regulations of the State of Iowa as respects credit for reinsurance. The cost of such Trust Funds, if any, shall be borne by the Company. (b) The assets deposited in the amounts trust account shall be valued, according to their current fair market value, and shall consist only of cash (United States legal tender), certificates of deposit (issued by a United States bank and payable in United States legal tender), and investments of the types specified in the applicable regulations of the State of Iowa as respects credit for reinsurance, provided that such investments are issued by an institution that is not the parent, subsidiary, or affiliate of either the Reinsurer or the Company. (c) Prior to depositing assets into the Trust account, the Reinsurer shall execute assignments, endorsements in blank, or transfer legal title to the trustee of all shares, obligations or any other assets requiring assignments, in order that the Company, or the trustee upon the direction of the Company, may whenever necessary negotiate any such assets without consent or signature from the Reinsurer or any other entity. (d) All settlements of account between the Company and the Reinsurer shall be made in cash or its equivalent. (e) The Reinsurer and the Company agree that the assets in the Trust account, established by the Reinsurer pursuant to the provisions of this Collective Agreement, then may be withdrawn by the Employer shall keepCompany at any time, notwithstanding any other provisions in this Agreement, and shall be deemed utilized and applied by the Company or any successor by operation of law of the Company including, without limitation, any liquidator, rehabilitator, receiver or conservator of the Company only for one or more of the following purposes: (i) to have kept, such amounts separate and apart from his own monies and shall be deemed to hold reimburse the sums so deducted in trust on behalf Company for the Reinsurer's share of Employees until the Employer has paid such monies premiums returned to the applicable Trust Fund. Furtherowners of policies reinsured under this Agreement, in the event on account of any liquidation, assignment, or bankruptcy cancellations of such policies; (ii) to reimburse the Company for the Reinsurer's share of surrenders and benefits or losses paid by the Company pursuant to the provisions of the policies reinsured under this Agreement; (iii) to fund an Employer, account with the Company in an amount at least equal to the deduction, for reinsurance ceded, from the Company's liabilities for reinsurance ceded under this Agreement. Such amount that is owed shall include, but not be limited to, amounts for policy reserves, reserves for claims and losses incurred (including losses incurred but not reported), reserves for loss adjustment expenses and reserves for unearned premiums; and (iv) to pay any other amounts the Company claims are due under this Agreement. All of the foregoing shall be applied without diminution because of insolvency on the part of the Company or the Reinsurer. (f) The Company shall give the Reinsurer the right to seek approval from the Company to withdraw from the aforementioned Trust account all or any part of the assets contained therein and transfer such assets to the applicable Trust Fund by Reinsurer, provided: (i) the Employer on whose behalf Employees have performed work entitling them to receive contributions Reinsurer shall at the time of such withdrawal, replace the withdrawn assets with other qualified assets having a market value equal to the applicable Fund market value of the assets withdrawn so as to maintain at all times the deposit in the required amount, or (ii) after such withdrawal and transfer, the market value of the Trust account is herein before provided forno less than one-hundred-two percent (102%) of the required amount. (g) Should amounts be held pursuant to (e)(iii) above, is deemed then the Company shall pay interest at the Prime Rate on such funds as may be held from time to time. (h) Should any amounts withdrawn from the Trust account be in excess of the actual amounts required for (e)(i), (e)(ii), or (e)(iii) above, or should any amounts subsequently be determined not to be held in Trust for due under (e)(iv) above, then such excess amounts and amounts not due shall be returned to the Trustees of that Trust Fund Reinsurer forthwith and the Company shall pay interest at the Prime Rate on such funds shall be deemed to be separate from, and form no part of, the estate in liquidation, assignment, or bankruptcy, whether or not that amount has in fact been kept separate and apart from the Employer's own money or from the assets of the estate. The Joint Board of Trustees are hereby empowered and authorized to do all things necessary for the administration of the Funds, including entering into or amending the necessary Trust Agreements on behalf of the Employers and the Union. Each Employer shall furnish a statement of the number of Millwright Employees covered by the Collective Agreement and the hours worked by such Employees. Such statement and contributions to be submitted by the 15th day of the month following the month for which such contributions are payable. For the Apprenticeship Fund and the Trade Enhancement Fund such statement and contributions to be mailed date they were withdrawn to the Millwrights Union Local 1021. For the Health & Welfare Trust Fund and the Group Registered Savings Plan date they are returned. (GRSPi) Trust Fund, such statement and contributions to be mailed to Funds Administrative Service Inc., ▇▇▇ ▇▇▇▇▇, ▇▇▇▇-▇▇▇ ▇▇▇▇▇▇, ▇▇▇▇▇▇▇▇, ▇▇▇▇▇▇▇, ▇▇▇ ▇▇▇. If any Employer shall fail to remit payments required to be made Any interest calculated pursuant to the terms provisions of this Article as determined by the Trustees of a Trust Fund, and if such default continues for ten calendar days after the amounts payable are due, the Employer shall pay to the applicable Trust Fund, as liquidated damages paragraphs (in respect to increased administration costs, the costs of monitoring and enforcing payment, and other costsg) and not as a penalty, an amount equal to 10% (h) above shall be offset against any other obligations of the amount which the Employer has failed to remit. The failure by an Employer to make payments due in each month shall constitute a separate event and of default and shall subject the Employer to payment of liquidated damages as outlined above, provided that, in calculating the amount of liquidated damages payable the amounts due in respect to a preceding period where liquidated damages have been calculated shall not be included in calculating further liquidated damages. However, interest calculated at a rate of 2% per month shall accrue and be paid by the Employer on any unpaid arrears, including liquidated damages, calculated from the original due date until the date of paymentReinsurer.

Trust Funds. 19:01 Where SECTION 1. Contributions to the International Painters and Allied Trades Industry Pension Fund, IUPAT Annuity Fund and the Finishing Trades Institute and the Painters and Allied Trades Labor Management Partnership. a.) For each hour or portion of an Employee performs work that would require hour for which an employee receives pay, the Employer shall make a contribution as per Article 30 of this Agreement to contribute hourly contributions the Industry Pension Fund, IUPAT Annuity Fund (as applicable), FTI and to the LMCI. (Contributions must be made for each hour paid by the Employer, except that, when overtime rates apply, a contribution need be made for only the actual hour(s) worked). b.) Contributions shall be paid on behalf of any employee starting with the employee’s first hour of employment in a job classification covered by this Agreement. This includes but is not limited to, apprentices, journeypersons, trainees and probationary employees. c.) The payments to the Industry Pension Fund, the IUPAT Annuity Fund, FTI Apprenticeship and LMCI Funds described above shall be made separately to each respective Fund or as otherwise set forth in written instructions that the Employer shall receive from the Administrator(s) of each respective fund. The Employer hereby understands, accepts and agrees to be bound by all provisions set forth in the Agreement and Declaration of Trust that has been adopted by the parties to each of the respective Funds identified above, including all amendments and modifications made thereto, and the Employer hereby agrees to be bound by and to said Agreements and Declaration of Trust as though it had actually signed the same. d.) The Employer shall, with respect to any and all contributions or other amounts that may be due and owing to the IUPAT and its related or affiliated Funds or organizations, including but not limited to, the IUPAT Industry Pension Fund, the IUPAT Annuity Fund, the Finishing Trades Institute, the Painters and Allied Trades Labor Management Cooperation Initiative, the IUPAT Political Action Together (and any and all other affiliated International organizations as may be created or established in the amounts specified future), upon receipt of a written directive to do so by the affiliated Funds and organizations, make all required payments, either directly or through an intermediate body, to the “Central Collections” Unit of the International Union and its affiliated Funds and organizations. Such contributions shall be submitted on appropriate forms, in this Collective Agreementsuch format and with such information as may be required by Central Collections. e.) The Employer and Union hereby irrevocably designates as its representatives on the Board of Trustee of the IUPAT Industry Pension Fund, then the Employer shall keepFTI and the LMCI such Trustees as are now serving, and shall who will in the future serve, as Employer and Union Trustees, together with their successors, as provided for in the aforesaid trust indentures. f.) The parties hereby further agree to be deemed to have keptbound by all actions taken by the Trustees of the IUPAT Industry Pension Fund, such amounts separate the IUPAT Annuity Fund, the FTI and apart from his own monies and shall be deemed to hold the sums so deducted in trust on behalf of Employees until the Employer has paid such monies LMCI Funds pursuant to the applicable Trust Fund. Further, in the event said Agreements and Declarations of any liquidation, assignment, or bankruptcy of such an Employer, an amount equal to the amount that is owed to the applicable Trust Fund by the Employer on whose behalf Employees have performed work entitling them to receive Trust. g.) All contributions to the applicable Fund as is herein before provided for, is deemed to be held Funds described in Trust for the Trustees of that Trust Fund and such funds paragraph 1 hereof shall be deemed to be separate from, and form no part of, made on or before the estate in liquidation, assignment, or bankruptcy, whether or not that amount has in fact been kept separate and apart from the Employer's own money or from the assets of the estate. The Joint Board of Trustees are hereby empowered and authorized to do all things necessary for the administration of the Funds, including entering into or amending the necessary Trust Agreements on behalf of the Employers and the Union. Each Employer shall furnish a statement of the number of Millwright Employees covered by the Collective Agreement and the hours worked by such Employees. Such statement and contributions to be submitted by the 15th 30th day of the month following the month for which such contributions are payable. For close of the Apprenticeship Fund preceding month's payroll, and the Trade Enhancement Fund such statement Trustees shall have the authority to have certified public accountants audit the payroll, wage and other relevant records of the Employer for the purpose of determining the accuracy of contributions to each respective Fund. h.) If an Employer fails to make contributions to any of the Funds described in paragraph 1 hereof within fifteen (15) days after the date required by the Trustees, such failure shall be mailed deemed a violation of this Agreement and the Union shall have the right to take whatever steps are necessary to secure compliance with this Agreement, any provisions hereof to the Millwrights Union Local 1021. For the Health & Welfare Trust Fund contrary notwithstanding, and the Group Registered Savings Plan (GRSP) Trust Fund, such statement and contributions to be mailed to Funds Administrative Service Inc., ▇▇▇ ▇▇▇▇▇, ▇▇▇▇-▇▇▇ ▇▇▇▇▇▇, ▇▇▇▇▇▇▇▇, ▇▇▇▇▇▇▇, ▇▇▇ ▇▇▇. If any Employer shall fail to remit be liable for all costs of collecting the payments required to due, together with the attorneys’ fees and such penalties as may be made pursuant to the terms of this Article as determined assessed by the Trustees of a Trust each respective Fund, and if such default continues for ten calendar days after the amounts payable are due, the Employer shall pay to the applicable Trust Fund, as liquidated damages (in respect to increased administration costs, the costs of monitoring and enforcing payment, and other costs) and not as a penalty, an amount equal to 10% of the amount which the Employer has failed to remit. The failure by an Employer to make payments due in each month shall constitute a separate event and of default and shall subject the Employer to Employer’s liability for payment of liquidated damages as outlined above, provided that, in calculating the amount of liquidated damages payable the amounts due in respect to a preceding period where liquidated damages have been calculated under this provision shall not be included subject to or covered by any “no strike” clause, which may be provided or set forth elsewhere in calculating further liquidated damages. Howeverthis Agreement and such provisions shall not apply in the event of a violation of this clause. i.) Each of the respective Funds described in paragraph 1 hereof shall, interest calculated at all times conform with the requirements of the Internal Revenue Code and other applicable laws and regulations so as to enable the Employer, at all times, to treat contributions to them as a rate of 2% per month shall accrue and be paid by the Employer on any unpaid arrears, including liquidated damages, calculated from the original due date until the date of paymentdeduction for income tax purposes.