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PEDC Board Meeting Minutes May 19, 2020 Page 3 of 3 3) Pursuant to Sec. 551.071 of the Texas Government Code, Consultation with Attorney, to receive legal advice about (1) pending or contemplated litigation and/or (2) on matters in which the duty of an attorney to his or her client under the Texas Disciplinary Rules of Professional Conduct of the State Bar of Texas clearly conflict with this chapter; regarding: Executive Director Chairman Hernandez convened the Board into Executive Session at 5:31 p.m. Reconvene into, -Open Session and possibly take action on items discussed in Executive Session. Chairman Hernandez reconvened the Board into Open Session at 6:46 p.m. Item #3 - Executive Director: Chairman Hernandez made a motion that he as the Chairman is able to execute the compromise settlement and release regarding the stipulated claim against the PEDC by Michael Paris and authorize the disbursement to Michael Paris to settle disputed claim. Ms. Bills seconded the motion. Vote was 4 -ayes to 1 -nays. Dr. Hashmi was the nay vote. Item #2 — Turner Industries: Dr. Hashmi made a motion that Turner is very important to our community and under no conditions do we want to lose Turner as one of the major employers in town. The motion was made for job retention in the amount of $400,000.00 to be approved. Mr. Pankaj seconded the motion. Dr. Hashmi stated that he had a correction in his motion. This would also be subject to the retention of 49 jobs until the end of the year, December 31, 2020. Ms. Harris asked when the disbursement would be. Dr. Hashmi stated that the Board should discuss disbursement. Mr. Hamill suggested that the disbursement be one half at the beginning and one half at the end. Ms. Bills stated that she agrees with Mr. Hamill on disbursing at the beginning and the end of the agreement. Mr. Hernandez asked for a vote on 50% upfront and 50% at the end. Vote was 5 -ayes to 0 - nays. Discuss Future Agenda Items. No future agenda items were discussed. Mr. Hernandez stated he would get the Board on possible dates for reviewing executive director candidates. Ms. Portugal mentioned that in June the PEDC bylaws state that plans for the next year are to be brought before the City Council. Ad'ourn Ms. Bills made a motion to adjourn. Dr. Hashmi seconded the motion. Vote was 5 -ayes to 0 -nays. The meeting adjourned at 6:57 p.m. Respectfully submitted, . . ...... . . . 1 C3 Paula Brownfield Administrative Assistant Paris Economic Development Corporation