Every apprenticeship or on-the-job training agreement approved under this chapter shall contain:
(1) The names and signatures of the contracting parties and the signature of a parent or guardian if the apprentice is a minor;
(2) The date of birth of the apprentice or trainee;
(3) A statement of the occupation or business which the apprentice or trainee is to be taught and the time at which the apprenticeship or on-the-job training will begin and end;
(4) A statement showing:
(a) 1. The number of hours to be spent by the apprentice or trainee in work on the job in a time-based program; or 2. A description of the skill sets to be attained by completion of a competency-based program, including the on-the-job training component; or 3. The minimum number of hours to be spent by the apprentice and a description of the skill sets to be attained by completion of a hybrid program; and (b) The number of hours to be spent in related instruction in technical subjects related to the occupation, which shall be not less than one hundred forty-four (144) hours per year;
(5) A statement setting forth a schedule of the processes in the occupation or industry divisions in which the apprentice or trainee is to be taught and the approximate time to be spent at each process;
(6) A statement of the graduating scale of compensation to be paid the apprentice or trainee, and whether the required school time shall be compensated;
(7) A statement providing for a period of probation not to exceed twenty-five percent (25%) of the length of the program or one (1) year, whichever is shorter, during which the apprenticeship or on-the-job training agreement may be canceled by either party to the agreement upon written notice to the registration agency, without adverse impact on the sponsor; and (8) A provision that all controversies or differences concerning the apprenticeship or on-the-job training agreement which cannot be adjusted by the parties shall be submitted to the supervisor for determination as provided in KRS 343.070.