Every apprentice agreement entered into under this chapter shall contain:

1. (1) The names of the contracting parties;
2. (2) The date of birth of the apprentice;
3. (3) A statement of the trade, craft, or business which the apprentice is to be taught, and the time at which the apprenticeship will begin and end;
4. (4) A statement showing the number of hours to be spent by the apprentice in work and the number of hours to be spent in related and supplemental instruction, which instruction shall be not less than one hundred forty-four hours per year; provided, that in no case shall the combined weekly hours of work and of required related and supplemental instruction of the apprentice exceed the maximum number of hours of work prescribed by law for a person of the age and sex of the apprentice;
5. (5) A statement setting forth a schedule of the processes in the trade or industry division in which the apprentice is to be taught and the approximate time to be spent at each process;
6. (6) A statement of the graduated scale of wages to be paid the apprentice and whether the required school time shall be compensated; provided, however, the apprentice shall receive compensation which shall not be less than the minimum wage prescribed by the Federal Fair Labor Standards Act;
7. (7) A statement providing for a period of probation of not more than five hundred hours of employment and instruction extending over not more than four months, during which time the apprentice agreement shall be terminated by the Commissioner at the request in writing of either party, and providing that after such probationary period the apprenticeship agreement may be terminated by mutual agreement of all parties thereto, or cancelled for good and sufficient reason. The Council, at the request of an apprentice committee, may lengthen the period of probation;
8. (8) A provision that all controversies or differences concerning the apprentice agreement which cannot be adjusted locally shall be submitted to the Council for determination;
9. (9) A provision that an employer who is unable to fill his obligation under the apprentice agreement may, with the approval of the Commissioner, transfer such contract to any other employer; provided, that the apprentice consents and that such other employer agrees to assume the obligations of the apprentice agreement;
10. (10) Such additional terms and conditions as may be prescribed or approved by the Commissioner, not inconsistent with the provisions of this chapter.