Per Employee Amount definition

Per Employee Amount means an amount equal to the Benefit for the year after the year
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Per Employee Amount means an amount equal to the Benefit for the year of the Shortfall divided by the “Employment Obligation”.
Sample 1

Examples of Per Employee Amount in a sentence

  • If, during the first three (3) years of the Employment Obligation Term a Company fails to achieve the Minimum Standard, then the Company shall pay to the Agency an amount equal to (a) the Per Employee Amount multiplied by (b) the Shortfall and then multiplied by (c) 1.5.

  • If, during the first five (5) years of the Employment Obligation Term a Company fails to achieve the Minimum Standard, then the Company shall pay to the Agency an amount equal to (a) the Per Employee Amount multiplied by (b) the Shortfall and then multiplied by (c) 1.5.

  • If, after the first five (5) years of the Employment Obligation Term a Company fails to achieve the Minimum Standard, then the Company shall pay to the Agency an amount equal to (a) the Per Employee Amount multiplied by (b) the Shortfall.

  • If, after the first (3) years, of the Employment Obligation Term a Company fails to achieve the Minimum Standard, then the Company shall pay to the Agency an amount equal to (a) the Per Employee Amount multiplied by (b) the Shortfall.

  • If the Applicant shall be subject to a Recapture Payment, as contemplated in subsection (1) (A) above, then the Applicant shall pay to the Agency an amount equal to the Per Employee Amount multiplied by the difference between the Employment Obligation and the number of FTEs shown on the AER, in each instance for the applicable year.

Related to Per Employee Amount

  • Continuing Employee has the meaning set forth in Section 6.7(a).

  • Regular Employee is one who works on a full-time or part-time basis on regularly scheduled shifts of a continuing nature:

  • Former Employee means an individual who has severed employment with the Employer or an Affiliated Employer.

  • Regular Part-Time Employee means an employee who is appointed to a regularly scheduled position but works less than full-time. A regular part-time employee is entitled to all benefits outlined in the agreement on a pro rata basis, except where otherwise specified.

  • Part-time employee means an employee who is normally required to work less than the basic hours of work.

  • New employee means a Full-Time Employee first employed by the Company in the Project and who is hired on or after the Effective Date of this Agreement.