15 - PEDC Amendment & Termination of Campbell Soup's Single Serve Beverage Line Incentive Agreement

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($500,000M) to Campbell Soup for the new Capital investment in the SS Juice Line, 50 new full-time jobs for the SS Juice line, retention of at least 500 jobs at the Paris, Texas Plant and specialized job tmining for the new S S Juice line, and directed PEDC staff to finalize the scope and terms of the economic incentive package in an Economic Incentive Agreement; and WHEREALS, the $500,000.00 economic incentive payment will be paid to Campbell C 1Wjim-we JuT ive �� ft,,s fbllowjn,.� execution of this Amemcrit 11% all parties re� sum within f and approval of the Agreement by the PEDC Board and the Paris City Council; and WHEREAS, the Board of Directors of Paris EDC has determined that it is in the best interest of the City of Paris, Texas community and the local economy that Paris EDC provide these economic incentives to Carnpbell Soup to help bring the new capital investment to the Paris, Texas Facility through the new SS Juice line and fifty (50) new jobs and to maintain 500 jobs at the Campbell Soup Facility in Paris, Texas; and NOW, THEREFORE, in consideration of the covenants, promises, and conditions set forth herein, the Paris EDC and Campbell Soup agree as follows: This Agreement shall be effective upon the date last executed by the Parties hereto shall remain in force for a tenn of five (5) years from the effective date. II. REPRESENTATIONS AND OBLIGATIONS OF THE PARTIES A. Campbell Soup's Duties, Obligations and Representations.- I 1. Campbell Soup shall make a Capi+A Investment of at least $25,000,000-00 in the Paris, Texas Plant as part of the new SS Juice I ine by December 31, 2013. 2, Campbell Soup 0) new full-time employees at the Paris, Texas Plant as part of the new SS Juice line by December 31, 2013. 3. Campbell Soup shall retain a minimum of five-huns (500) full-time jobs at P. Texas Plant throughout the term of this Agreement. 4. Campbell Soup shall provide High Performance Organization ("HPO") training to all new employees working on the SS Juice line. 5. Campbell Soup shall provide all training to start-up, operate and successMly maintain the SS Juice line, including any necessary cross -training or HPO training for retained full-time employees at the Paris, Texas Plant. 6. Campbell Soup shall continue to operate a food and beverage manufacturing plant with a diversified product line at the Paris, Texas Facility throughout the term of this Agreement. K