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FERREIRA CONSTRUCTION COMPANY INC., AND SUBSIDIARY <br />NOTES TO CONSOLIDATED FINANCIAL STATEMENTS <br />Heavy and General Laborers' <br />Local Union Local Union 172/472 <br />CA San Diego Laborer Local 89 <br />Excavators Union Local 731 <br />Pension Fund <br />Operating Engineers Local No. <br />825 Pension Plan <br />Construction Laborers Pension <br />Trust for Southern California <br />Massachusetts Operators Local 4 <br />Mass & North New Laborers <br />Other <br />*Plan year ending June 30, 2020 <br />**Plan year ending August 31, 2020 <br />***Plan year ending March 31, 2020 <br />22-6032103 ***Green <br />95-6090541 **Green <br />13-1809825 Green <br />22-6033380 *Green <br />43-6159056 Green <br />046013863 Green <br />046128298 Green <br />No <br />Status <br />No <br />No <br />Expiration Date <br />No <br />Pension <br />FIP/RP <br />Company <br />of Collective <br />EIN/Pension <br />Protection <br />Pending <br />Contributions Surcharge <br />Bargaining <br />Pension Fund Plan Number <br />Act Zone <br />Implemented <br />2020 Imposed <br />Agreement <br />CA IBEW Local 11 95-6392774 <br />*Yellow <br />Yes <br />$ 597,406 No <br />6/30/2022 <br />CA Operating Engineers W.O.E. <br />Local 12 95-6032478 <br />*Yellow <br />Yes <br />453,496 No <br />6/30/2022 <br />Heavy and General Laborers' <br />Local Union Local Union 172/472 <br />CA San Diego Laborer Local 89 <br />Excavators Union Local 731 <br />Pension Fund <br />Operating Engineers Local No. <br />825 Pension Plan <br />Construction Laborers Pension <br />Trust for Southern California <br />Massachusetts Operators Local 4 <br />Mass & North New Laborers <br />Other <br />*Plan year ending June 30, 2020 <br />**Plan year ending August 31, 2020 <br />***Plan year ending March 31, 2020 <br />22-6032103 ***Green <br />95-6090541 **Green <br />13-1809825 Green <br />22-6033380 *Green <br />43-6159056 Green <br />046013863 Green <br />046128298 Green <br />No <br />2,995,633 <br />No <br />No <br />319,143 <br />No <br />No <br />545,434 <br />No <br />No <br />801,490 <br />No <br />No <br />801,545 <br />No <br />No <br />532,893 <br />No <br />No <br />457,473 <br />No <br />1,427,891 <br />$ 8,932,404 <br />2/28/2022 <br />6/30/2022 <br />6/30/2022 <br />6/30/2023 <br />6/30/2021 <br />6/30/2022 <br />5/31/2024 <br />The Company did not provide contributions that exceeded 5% to any individual plan. <br />Note 19 - Loss on Claim Settlement: <br />In December 2016, the Company purchased certain assets of Marks Brothers, Inc. ("MBP") including <br />certain work in progress. Under the Asset Purchase Agreement ("APA"), MBI made certain representations <br />regarding the status and percentage complete of the contracts. In addition, under the APA, the Company and <br />MBI contractually agreed, among other things, to equally split (50150) the profits or losses on these contracts. <br />As of December 31, 2018, the Company completed all the purchased contracts and incurred a loss of <br />approximately $13,100,000 on one contract and a total loss on all contracts, including a proportional share of <br />general and administration expenses totaling $15,360,000. The loss incurred was a result of the Company <br />having to perform re -work of defective work by MBI, perform work for which MBI was already paid, for <br />extensive cost overruns and delays that the Company was not informed or anticipated at the time it entered the <br />APA. <br />On December 19, 2018, the Company filed a complaint against MBI and its shareholders asserting a <br />claim for breach of contract against MBI for failure to reimburse the Company for its share of the loss incurred <br />on the contracts as contractually required under the APA. In addition, the complaint asserts a claim against <br />MBI and its shareholders for fraudulent transfers, intentional misrepresentations and negligent <br />misrepresentations to recover the total loss incurred by the Company. <br />20 <br />