2000-06-28-Minutes - Laserfiche WebLink

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565 hereof. Thereafter, PEDC agrees to pay two thousand dollars ($2,000.00) per job for each new, permanent job created as a result of the expansion in excess of the twenty (20) jobs described in Paragraph 1 hereof, and created in the tinge frame -- ending December 20, 2002, not to exceed twenty (20) additional jobs in excess of the initial twenty (20) provided herein. Said additional jobs must be for work to be performed substantially either (a) at the site of the improvements, or (b) in support of operations performed by others at the site of the improvements. Incentive payments for all such new, permanent jobs shall be made upon the presentation by EARTHGRAINS to the PEDC of its Texas Workforce Commission Employer's Quarterly Report evidencing such jobs. EARTHGRAINS further agrees that, for a period of seven (7) years from the date of this Agreement, it will continue to provide the PEDC with a copy of its Texas Workforce Commission Employer's Quarterly Report within thirty (30) days of its filing of the same with the Texas Workforce Commission to evidence the continued existence of such new, permanent jobs. EARTHGRAINS agrees that, for a period of seven (7) years from the date of this Agreement, it will not reduce the number of such new, permanent jobs so created. 4. In the event that the improvements described in Paragraph 1 hereof are not completed in accordance with this Agreement or the expenditure for the improvements does not meet the amount required herein, then EARTHGRAINS '-- shall return all incentives paid to it within sixty (60) days of the date of notice of default. 5. In the event that the jobs created under this Agreement are not maintained in accordance with this Agreement, then EARTHGRAINS shall return any and all incentives paid to it for the non-maintained jobs within sixty (60) days of the date of notice of default. 6. This Agreement sets forth the entire understanding regarding cash incentives between the parties, and any other understandings or agreements shall be canceled and superseded by this Agreement upon the date of execution hereof. None of the terms of this Agreement shall be waived, discharged, altered or modified in any respect, except by an agreement in writing signed by both parties and specifically referring to this Agreement. The captions in this Agreement are included for convenience only and shall not be taken into consideration in any construction or interpretation of this Agreement or any of its provisions. This Agreement is performable in Lamar County, Texas, and shall be governed by, construed and enforced in accordance with the laws of the State of Texas. The provisions of this Agreement shall apply to, bind and inure to the benefit of the PEDC, EARTHGRAINS, and their respective successors, and permitted assigns, if any.