MEMORANDUM OF SETTLEMENT BETWEEN UNITED BANK LTD AND UNITED BANK LTD EMPLOYEES & WORKMEN UNION - 2013

Under and Read with Section 2(xxix) & 35(2) of Industrial Relations Act, 2012

Name of Parties

1. United Bank Ltd., having its Head Office at State Life Building # 1, I.I Chundrigrah Road, Karachi, hereinafter to as “Employer/the Bank” (which expression wherever the context so admits shall mean and include its successors and assigns).

And

2. UBL, Employees & workmen Union, Punjab, Islamabad & KPK, a registered Industry-wise Trade Union having Registration No. 8/2006, having its office at UBL, Bank Square, Nila Gumbad, Lahore, and certified as C.B.A in CBU of Punjab, Islamabad and KPK hereinafter referred to as “the C.B.A” (which expression wherever the context so admits shall include its successors, assigns and all permanent workmen in actual employment or to be employed by the Bank).

Negotiating Teams

Representing the Bank

1. Minhas Wirasat Ali - DH, Employee Relations

2. Tahir Sajjad - CSH – North

3. Iftikhar Hameed Khan - RBH – LHR west

4. Riaz Muhammad - Unit Head – SLS

5. Shahnawaz Sarwar - Assistant Manager – ER

Representing the C.B.A

1. Mazhar Hussain Shah - Chairmain

2. Khurshid Alam Warraich - President

3. Muhammad Wasif Dar - General Secretary

4. Iftikhar A. Khan - Senior Vice President

5. Baber Zareen Butt - Finance Secretary

Short Recital of the Case

WHEREAS the C.B.A had served a Charter of Demands dated December 29, 2012 u/s 35(1) of IRA, 2012.

AND WHERE AS Bilateral Negotiations were held between the parties on the aforesaid Charter of Demands;

AND WHERE AS the C.B.A pleaded inflation and rise in the cost of living as justification for their Charter of Demand;

AND WHERE AS the Bank pleaded rationalization of facilities and capping of hidden costs as justification for acceptance of the Charter of Demand;

It is also considered necessary to bring on record that the overall Package Settlement on the aforesaid Charter of Demand has been reached keeping in view the inflation and rise in the cost of living, rationalization of facilities, capping of hidden costs and the assurance given to the Bank that the Clerical & Non-Clerical employees (“workers”) shall work with more devotion and commitment and shall enhance their productivity;

General

1. It is hereby agreed that the Terms of this Memorandum of Settlement shall be effective for Two Years i.e. from January 01, 2013 to December 31, 2014.

2. It is also agreed that during the operation of the Settlement, UBL Employees & Workmen Union, Punjab, Islamabad & KPK (C.B.A) and/or any succeeding C.B.A for Punjab, Islamabad & KPK shall not raise any demand(s), financial or otherwise, on the Bank.

3. That the benefits of this Settlement shall be available to all eligible Clerical & Non-Clerical employees (“workers”) of the Bank. The C.B.A shall not response the cause of any Employee other than the CS/NCS.

4. Any increase, be that by way of increase in Salary, cost of living allowance, special allowance, additional special allowance or any other allowances given by the federal and/or provincial government during the period of this Settlement, is liable to be adjusted/setoff.

5. That it is clearly understood and agreed that the terms of this Settlement are binding and applicable only to the permanent full time Clerical and Non-Clerical workmen of the Bank, who were in the employment of the Bank as on January 01, 2013 and are still in the employment of the Bank; as workmen on the date of signing of this agreement.

Terms of the Settlement

1. Increase in Gross Pay

2. Conveyance Allowance

3. Education Allowance

4. Double Duty/ Gazette Holiday Allowance

Double Duty/Gazette Holiday Allowance for Security Guards has been enhanced from Rs. 300/- to Rs. 350/- per day worked. This increase will be effective from the date of signing of this agreement.

5. Gun Allowance

Gun Allowance paid to the Security Guards has been increased from Rs. 350/- to Rs. 400/- per month. This increase will be effective from the date of signing of this agreement.

6. Drivers Allowance (Extra Payment for Extra work)

Drivers who work in extended hours shall be paid up to the maximum capping of Rs. 2,800/- per month. This shall be inclusive/ in lieu of overtime. This increase will be effective from the signing of this agreement.

7. Washing Allowance

The existing Washing Allowance has been from Rs. 450/- to Rs. 500/- per month. This increase will be effective from the date of signing of this agreement.

8. Hajj Facility

Nine (9) Employees shall be sent for Hajj through balloting. The balloting will be done through Computer in the presence of C.B.A & Management representatives. Bank will bear the expenses as per announcement of the Government Package and leave for that period shall be allowed with pay. The increase of two (2) employee will be effective from the date of signing of this agreement.

9. Late Sitting Allowance

The Late Sitting Allowance has been enhanced from Rs. 1,200/- to Rs. 1,400/- per month, to be paid to the eligible CS & NCS Staff who sit late beyond working hours, except Drivers and Guards. This shall be inclusive / in lieu of overtime. This increase will be effective form the signing of this agreement.

10. Punctuality / Attendance Allowance

The Punctuality / Attendance Allowance for CS & NCS has been enhanced from Rs. 400/- to Rs. 450/- to be paid as per Bank’s Policy. This increase will be effective from the date of signing of this agreement.

11. Anomaly Committee

In order to resolve any anomaly arising in the implementation of above revisions as per this settlement, a Committee has been constituted consisting of eight (8) members i.e. Four (4) from Union and Four (4) from Management side, to ensure smooth implementation.

IN WITNESS WHEREOF, the Parties above named and signed this Memorandum of Settlement at Rawalpindi, on February 15, 2013.

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