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2017-039 - Agreements to Amend and Terminate an Economic Incentive Agreement between Campbell Soup and PEDC
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2017-039 - Agreements to Amend and Terminate an Economic Incentive Agreement between Campbell Soup and PEDC
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12/12/2017 2:45:12 PM
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11/14/2017 3:55:36 PM
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THE STATE OF TEXAS <br />COUNTY OF LAMAR <br />ADDENDUM TO ECONOMIC INCENTIVE AGREEMENT <br />This Addendurn Cthe Addendum") to an Economic Incentive Agreement ("the <br />Agreement") dated January 30, 2015 is entered into by and between the PARIS ECONOMIC <br />DEVELOPMEN71' C'ORPORATION, a Non -Profit Texas Corporation ("PEDC"), acting by <br />and through its Board of'Directors, and CAMPHELL SOUP SUPPLY COMPANY LLC, <br />Delaware limited fiabitity company ("Campbell Soup"). <br />W I T N E S S E T If- <br />WHE'REA,S, heretofore, on January 3 0, 2014, the; PEDC and Campbell Soup entered into <br />(be 1-konomic Incentive Agreement attached hereto as Exhibit I and incorporated by reference <br />as if fully set forth herein related to Carripbell Soup's Single Serve Beverage Line; and <br />WHEREAS, due to prevailing conditions in the industry, Campbell Soup has detemin , <br />to replace the Single Serve Beverage Line at its facility in Paris, Texas with a now product Hill <br />and <br />MINIBOOM' <br />WHEREAS, the PEDC has agreed to said modifications of the Agreement because, said <br />modifications are consistent Nvith encouraging development of the Enterprise Zone: in which <br />Campbell Soup's Paris, Texas Facility is located in accordance with the purposes for which it <br />was created and are in keeping with the PEDCs purpose of promoting economic development <br />and employment in the City of Pans and Lamar County, Texas, and comply with all applicable <br />Itews, and othemise serve a public purpose in maintaining a major employer in the City of Paris, <br />Texas-, <br />NOW, THEREFORE, <br />The Parties here -to do mutually contract and agree to modify the Agreement as follows9 <br />A. All refor ences, to the creation of fifty (50) new full-time equivalent employees associated <br />with the Single Serve Beverage Line (referred to in the: Agreement as the "SS Juice, line") are <br />hereby amended to refer to forty -on e (41) new fall -tiara equivalent employees related to the <br />Single Serve Beverage Line, <br />i"L All other ternis iri. the original AG'RE l"I'MENI"dated January 30, 2014 remain, unaltered <br />
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