An employer that is organized for nonprofit purposes is eligible to employ students through the program if the employer meets all of the following requirements:

  (a) Enters into a signed agreement with an eligible graduate or professional graduate school to provide employment for students recommended by the school.

  (b) Provides at least 20% of the wages earned by the students.

  (c) Does not use students to displace employed workers.

  (d) Does not employ students to construct, operate, or maintain a facility used, or to be used, solely for sectarian instruction or as a place for religious worship.

  (e) Does not pay students a wage that is less than the federal minimum wage.