Wage Subsidy Clause Samples
A Wage Subsidy clause outlines the terms under which an employer receives financial assistance to help cover employee wages. Typically, this clause specifies eligibility criteria, the amount or percentage of wages subsidized, and the duration of the subsidy. For example, it may apply during periods of economic hardship or as part of a government support program. The core function of this clause is to provide financial relief to employers, enabling them to retain staff and maintain operations during challenging times.
Wage Subsidy. The Provider may pay a Wage Subsidy to an Employer with respect to a Participant (other than a Work Assist Participant), where the Participant is eligible for the Wage Subsidy, in accordance with any Guidelines. If the Provider pays a Wage Subsidy in accordance with clause 101.1, the Provider must: ensure that the payment is in accordance with any Guidelines, including any limitations on payments; arrange for payment, from its own funds, of the Wage Subsidy to the Employer for that Participant; and submit a claim for Reimbursement of the Wage Subsidy through the Department’s IT Systems. The Provider must not pay a Wage Subsidy to the Provider’s Own Organisation or a Related Entity, unless where specified in any Guidelines. The Department will Reimburse the Wage Subsidy to the Provider in accordance with, and subject to, the requirements for payment under the Guidelines.
Wage Subsidy. The Provider may pay a Wage Subsidy to an Employer with respect to a Participant (other than a Work Assist Participant), where the Participant is eligible for the Wage Subsidy, in accordance with any Guidelines.
Wage Subsidy. On or before the ninetieth (90th) day after the Closing Date, Seller shall pay to Buyer the sum of Ninety Thousand Dollars ($90,000), to be applied by Buyer against the then current and future wage and benefit costs for the Transferred Business Employees.
(d) Section 6.1 of the Purchase Agreement is deleted in its entirety, and replaced with the following: