11 - Resolution Approving Agreement to Terminate Tax Abatement Agreement with Campbell Soup

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(Updated 1-11-16) POLICY STATEMENT CRITERIA AND GUIDELINES FOR TAX ABATEMENT via www.tracer2.com. (Note: This represents 54 7 companies, 10,470jobs and 56% of allprivate sector employme in Lamar County.) The taxing jurisdictions and the company must agree to include measuring, tracldng and annual reporting of the ne, jMM increases (existing jobs plus newjobs) for the entire term of the abatement agreement. For Net New Jobs (New Job Creation and -- ----- ------------ Retention of Existing Jobs) 1. 10 new jobs rnu- iii -uiii, . 2. Newjob wages = or > average annual wages forprivate sectorjobs in Lamar County. (Excluding retail, acomnioMons, food service. See Rem 9.b. above.) 3. Agree to maintain existing base and new jobs dunng the entire term of agreement. 4. *Year I cannot exceed 100%. V1. Tax Abatement for Existing Employers Regarding Real or Personal Property. The Taxing Jurisdictions woognize the value of its existing employers to the wellbeing: of the City and County. The Taxing Jurisdictions desire to encourage existing employers to remain in the Taxing Jurisdictions and to improve their respective businesses and industries, as well as their profitability. NOW L' Oil �roperly by constructing new improvements on its real property and/or adding new pemonal Itiroperty to its authorized facty which qualify for tax abatement under these Policies, Critcriz and Guidelines, such employer may be eligible for tax abatement with respect to such improvements to its real property or its new personal property under the provisions of Article V above, even if no new jobs or newly created minimum annual payroll are created.