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2008-131
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2008-131
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Last modified
3/30/2016 11:30:57 AM
Creation date
10/1/2015 12:07:51 AM
Metadata
Fields
Template:
Official Documents
Official Document Type
Agreement
Approved Date
04/28/2008
Control Number
2008-131
Agenda Item Number
4.A.
Entity Name
Piper Aircraft, Inc.
Subject
Closing Fund Agreement
Supplemental fields
SmeadsoftID
6997
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1 . The evaluation for the first year would compare average employment for period <br /> October 1 through December 31 of year 1 against a required number of jobs of <br /> 250 (the 200 base jobs, plus the 50 net new jobs scheduled in the agreement) . <br /> 2. The second year evaluation would compare the average of actual employment <br /> for the period October 1 through December 31 against the 315 cumulative jobs <br /> scheduled for that phase. In addition, to be sure that the jobs for the previous <br /> phase were maintained throughout the year, the average of actual full time <br /> equivalent jobs for the period January 1 through December 31 of the second year <br /> would be compared to an adjusted job requirement obtained by averaging the <br /> scheduled employment for the previous employment phase for nine months and <br /> the new employment phase for three months. In this example the adjusted job <br /> requirement for the second year would be an average of 250 for nine months and <br /> 315 for three months or ((9'"250+3'315)/12) = 266. <br /> Once the final phase of a project is reached, the evolution of the <br /> remaining certification will be based on a simple comparison of the actual full <br /> time equivalent employment against the maintenance of the cumulative full time <br /> equivalent employment specified for the final phase. <br /> Worksheets, hard copy and/or electronic format (MS Excel format <br /> preferred), showing these calculations should be submitted with the certification. <br /> All hard copies of worksheets should be signed. <br /> Section 111. AVERAGE ANNUAL WAGE DETERMINATION <br /> A. Definition - In calculating the project's average annual wage for the Annual <br /> Certification Period (the average wage is not required for the Base Period), the <br /> following payments may be included for all project jobs as determined in Section <br /> II of this Exhibit: <br /> Wages <br /> Salaries <br /> Commissions <br /> Bonuses <br /> Drawing Accounts (advances to employees against future earnings) <br /> Prizes and Awards (if given by employer for employment) <br /> Vacation Pay <br /> Payment to Employees of Difference Between Regular Pay and Jury Pay <br /> Payments to Employees Temporarily Absent While in Military Service <br /> Wages Earned Before Death but Paid After Death <br /> 13745/01/00234567.DOCN-51 <br />
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