2017-039 - Agreements to Amend and Terminate an Economic Incentive Agreement between Campbell Soup and PEDC

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THE STATE OF TEXA, S COUNTY OF LAMAR ADDENDUM TO EC"ONOMIC INCENTIVE AGREEMENT 'This, Addendum Cth.e Addendum") to an Economic Incentive Agreement Agreement") dated January 30, 2015 is entered into by, and between the PARIS ECONOMIC DEVELOPMENT CORPORATION., a Non. -Profit Texas Corporation ("PEDC"), acting by and through its Board of Directors, and CAMPBELL SOUP SUPPLY COMPANY LLC, a Delaware limited liability company ("'Campbell Soup"). WITNESSETH: WHEREAS, heretofore, on January 3 0, 2014, the PEDC and Campbell Soup entered into the Economic Incentive Agreement attached hereto as Exhibit I and incorporated by reference as if fully set forth herein related to Campbell Soup'si Single Serve Beverage Line; and WKEREAS, due to prevailing conditions in the industry, Campbell Soup has determined to replace the Single Serve Beverage Line at its facility in Paris, Texas with a new product line - and WHEREAS, the PEDC has agreed to said modifications of the Agreement because said modifications are consistent with encouraging development of the Enterprise Zone in which Campbell Soup's Paris, Texas Facility is located in accordance with the purposes for which it was created and are in keeping %kith the PEDC's purpose of promoting economic development and employment in the City of Paris and Lamar County, Texas, and comply with a applicable laws and otherwise serve a public purpose in maintaining a major employer in th e City of Paris, Texas,; A. All references to the creation of fifty (50) new fall -time: equivalent employees associated with the Single Serve Beverage Line (referred to in the Agreement as the "SS Juice line') are hereby amended to refer to forly-one (41) new full-time equivalent employees related to the Single Serve Beverage Line. B. All other ternas in the original AGREEMENT dated January 30, �2014 remain unaltered b,�Jp'j)4, A