2019-024 - Approving an Addendum to Tax Abatement Agreement dated November 25, 2008 with Campbell Soup relating to the Company's Single Serve Beverage Line and Authorizing an Agreement with the Company to Terminate same

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equally qualified job applicants the hiring of employees first from within -the Enterpnse Zone, second from -within the corporate limits of the City of Paris, Texas, and -third, from within Lamar County, Texas, subject to the laws and regulations of the United States. of America and the State of Texas, and subject to any labor contracts currently in e5ect and any successive contracts or past practices. The OWNER agrees that it will not fill the new, permanent, full -time jobswith employees from among its current em- loyees at the existing site without immediately filling the .P positions -vacated bysuch employees.. 5.3 OWNER agrees that during the term of this AGREEMENT it will not reduce.the total number of existing permanent Rill -time jobs at it's Paris, Texas plant (as referenced herein) plus 57 additional permanent full-time jobs as called for in this AGREEMENT. V1. Default/Liquidated Damages 6.1 In the event that (a.) the IMPROVEMENTS for which an abatement has been granted are not completed in accordance with this AGREEMENT or the expenditure for the IMPROVEMENTS does not meet the arno required herein.; or (b) the jobs required to be created and retained by OWNER, as provided in Article V herein, are not mainIain ed.in accord' nce with this AG REEMENT; or (c) OWNER allows its ad valorem taxes owed the CITY to become delinquent and fails to timely and properly follow the legal procedures for prof or. contest of any such ad valorem taxes; or (d) OWNER mat lily breaches any of the othea terms and conditions of this AGREEMENT, then OWNER shall be in default of this AGREEMENT. In the event the OWNER defaults in its performance of either (a), (b) (c) or .(d) above, they. the CITY shall give the OWNER written notice of such default and if the OWNER has not, cured such default within sixty (60) days of said written notice, this AGREEMEN"r maybe modied or terminated by the CITY. Notice shall be in accordance with .paragrakph 13.3. 6,2 As liquidated damages in the event of default, and in accordance with the requirements of Section 312.205 (a)(4) of the Property Tax Code of the State of Texas, all taxes which otherwise would have been paid by OWNER to the CITY without the bencfit of Abatement, together with interest to 'be charged at the statutory to for delinquent taxes as determined by Section 33.01 of the Property Tax Code of the State of Texas, with all penalties pie rmittedby the Property Redevelopment and Tax Abatement Act and the Property Tax Code of the State of Texas, shall be recaptured and will become a debt to the -CITY and shill be due, owing, and paid to the CITY within sixty (60) days of the expiration of the above-mentioned applicable cure period as the sole remedy of the CITY, subject. to any and all la offsets, settlements, deductions, or credits -to -which OWNER may be entitled. The .P - arties acknowledge that actual damages in the event of default and termination 'would be speculative and difficult to determine. I® Personal Property Tax Abatement 7.1 Subject to the terms and conditions of this AGREEMENT, and subject to the rights and holders of any outstanding bonds of the CITY, a portion of the ad valorem -P roperty . Page 4