Third Period definition
Examples of Third Period in a sentence
The ratio of Trainees shall be: One (1) in three (3), with the understanding that each Individual Contractor utilizing the Trainee Classification must employ at least one (1) Second Period Trainee in the Second Period of the Agreement and at least one (1) Third Period Trainee in the Third Period of the Agreement before being eligible to employ another First Period Trainee.
The following schedule of 1,000 hour periods shall be the hourly rates of pay for Apprentices: First Period – 0 to 1,000 hours 60% Second Period – 1,001 to 1,999 hours 65% Third Period – 2,000 to 2,999 hours 70% Fourth Period – 3,000 to 3,999 hours 75% Fifth Period – 4,000 to 4,999 hours 80% Sixth Period – 5,000 to 6,000 hours 90% At no time will the Apprentice rate be more than the classification of the machine he is operating.
During the Initial Period, Officer shall serve as the President of the Company; during the Second Period, Officer shall serve as the Chief Executive Officer and President of the Company; and during the Third Period, Officer shall serve as the Chairman of the Board of Directors, and Chief Executive Officer of the Company, in each case, with such duties and responsibilities as are customary with respect to such positions.
Sellers will not be entitled to receive any Deferred Consideration for the Third Period to the extent EBITDA for such period is less than Two Million Four Hundred Thousand Dollars ($2,400,000).
Third Period – 2,001 to 3,000 work hours and 201 to 300 training hours – 85% of Journeyman Base Wage.