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572 <br /> <br /> improvements to the Facility; an in-bound switch; a server; Dell PCs; and furniture. <br /> <br /> : Such improvements will consist of furniture and equipment installed to operate a call <br /> center. The improvements described herein will be at a total cost in excess of <br /> $1,650,000.00, and shall be substantially completed prior to start-up. <br /> <br /> TCIM agrees to locate and thereafter maintain its call-center operations at the Facility <br /> for a term of not less than sixty (60) consecutive months following start-up of <br /> operations in its Facility, with such start-up to be not later than December 31, 2000. <br /> <br /> B. TCIM further agrees to create and maintain at least two hundred (200) new, <br /> permanent jobs at the site of the improvements. <br /> <br /> For purposes of this Agreement, a "full-time equivalent (FTE) employee" shall be one <br /> or more persons employed by TCIM to perform a single job, either individually or <br /> between them, at the Facility, which in the aggregate totals an average of thirty-five <br /> (35) working hours during a calendar week, as determined over a one (1) year period, <br /> measured from the anniversary date ofthe start-up of the Facility (hereinafter referred <br /> to as the "anniversary"). <br /> <br /> It is further agreed that the new, permanent jobs described herein shall be created in <br /> accordance with the following schedule: <br /> <br /> First anniversary not less than 130 FTE jobs <br /> Second anniversary not less than 170 FTE jobs <br /> Third anniversary not less than 190 FTE jobs <br /> Fourth anniversary not less than 200 FTE jobs <br /> <br /> Each new job created must be a full-time equivalent job in Paris, Texas. <br /> <br />C. In consideration for opening and operating the Facility and for the creation and <br /> maintenance of two hundred (200) full-time equivalent (FTE) employees by TCIM <br /> as stated herein, PEDC agrees to pay to TCIM two thousand five hundred dollars <br /> (52,500.00) per job for each FTE job created and maintained during the sixty (60) <br /> month term of this Agreement, for a total not to exceed $500,000.00, as follows: <br /> <br /> Amount To Be Paid <br /> <br /> $200,000.00 At start-up <br /> $125,000.00 One year anniversary <br /> $100,000.00 Second anniversary <br /> $ 50,000.00 Third anniversary <br /> $ 25,000.00 Fourth anniversary <br /> <br /> These payments shall be referred to herealter as the "Economic Incentive" or <br /> "Incentives." TCIM recognizes and accepts its obligation hereunder that as a <br /> <br /> <br />