J. MILLARD TAWES, Governor                        57

(i)   If the claimant's unemployment is caused by a shut-down by
his employer for the purpose of having employees take their vacations
at the same time, all benefits paid to the claimant shall be charged
against the experience-rating record of the claimant's current em-
ployer.

(2)   No employer's rate shall be varied from 2.7 percent for any
fiscal year, except as provided in sub-section (c) (4) [(i)] of this
section, and unless and until his experience-rating record has been
chargeable with benefits throughout the 36-consecutive-calendar-
month period ending on the computation date (as defined in sub-
section (c) (7) of this section), and unless and until each of his
annual payrolls, as defined herein, during the four calendar years
immediately preceding the computation date for that fiscal year
equals or exceeds $200.00; except that any employer who has not
been subject to the provisions of this article for a period of time
sufficient to meet the 36-consecutive-calendar-month requirement
shall, for the fiscal year beginning July 1, 1960 and for each fiscal
year thereafter, have his rate computed on the basis of his experience
provided his account has been chargeable with benefits throughout
at least the 12-consecutive-calendar-month period ending on the com-
putation date, and provided further that each of his annual payrolls,
as defined herein, during the two calendar years immediately preced-
ing the computation date for that fiscal year equalled or exceeded
$200.00. Provided, that if an employer has met all of the other re-
quirements of the law to qualify for an experience rate, but does not
have the required annual payrolls because he failed to pay contribu-
tions due and payable, on or before the computation date, his contri-
bution rate for the following fiscal year shall be his earned rate or
the standard rate, whichever is the greater.

(3)  The Executive Director shall for the fiscal year beginning
July 1, [1960] 1964 and for each fiscal year thereafter, determine
the contribution rate of each employer who has met the require-
ments specified in sub-section (c) (2) of this section, on the basis of
his experience-rating record, in the following manner:

(i) The Executive Director shall compute a benefit ratio for each
such employer which shall be the quotient obtained by dividing the
total benefits chargeable to his experience-rating record which were
paid within the 36-consecutive-calendar-month period ending on the
computation date by the total of his annual payrolls for the 3 calen-
dar years immediately preceding that computation date; except that
for any employer who has not been subject to the provisions of this
article for a period of time sufficient to meet the 36-consecutive-calen-
dar-month requirement, such benefit ratio shall be the quotient ob-
tained by dividing the total benefits chargeable to his experience^rat-
ing record which were paid during the entire period, ending on the
computation date, that he has been subject to this article by the total
amount of wages for employment paid by the employer during the
period beginning with the first day of the calendar quarter immedi-
ately following the quarter in which he first became subject to the
provisions of this article and ending on December 31 of the calendar
year immediately preceding that computation date, with respect to
which wages contributions have been paid on or before that compu-
tation date. Such benefit ratio shall be computed to the fourth deci-
mal point.