2006-049-RES- Tax Abatement Campbell Soup

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I. Term 1.1 The effective date of this AGREEMENT is the 27th day of March, 2006, with tax abatement beginning with the tax year commencing January 1,2007, and expiring on December 31, 2016. II. Area to be Improved 2.1 The IMPROVEMENTS to be the subject of this AGREEMENT consist entirely of PERSONAL PROPERTY, MACHINERY and EQUIPMENT; and shall herein be called the "IMPROVEMENTS". The IMPROVEMENTS shall be located upon and within the OWNER'S current facilities consisti.ng ofland, buildings and other structural improvements situated in the City of Paris, in Lamar County, Texas, herein called the "PROPERTY", described in Exhibit A attached hereto and made a part hereof for all purposes. III. Improvements 3.1 The OWNER has utilized Cold Blend technology to produce many of its higher garnish and ready-to-eat soups. The project of the OWNER contemplated in this AGREEMENT will provide the needed facility IMPROVEMENTS to its Paris, Texas plant to enable this plant to manufacture products that require Cold Blend technology. The IMPROVEMENTS will require engineering and design work, procurement of equipment, infrastructure and utilities modifications and electrical and mechanical installation within the OWNER'S Paris plant. The IMPROVEMENTS are described in Exhibit B attached hereto and made a part hereof for all purposes, and will be particularly described in CITY'S Certificate of Completion prepared after the completion and installation of the personal property, machinery and equipment herein described, which shall be furnished to and filed with the Chief Appraiser of the Lamar County Appraisal District. Said Certificate shall be duly executed by the Mayor of the City of Paris in the form attached hereto as Exhibit C. The IMPROVEMENTS will be at a cost equal to or in excess of $17,700,000.00 for cost and installation of machinery and equipment, and shall be substantially completed during the month of February, 2007; provided, that OWNER shall have such additional time to complete the IMPROVEMENTS as may be required in the event of "force majeure" if OWNER is diligently and faithfully pursuing completion of the IMPROVEMENTS. For this purpose, "force majeure" shall mean any contingency or cause beyond the reasonable control of OWNER including, without limitation, acts of God, or the public enemy, any natural disaster, war, riot, civil commotion, insurrection, governmental or de facto governmental action, unless caused by acts or omissions of OWNER, fires, explosions, accidents, floods, and labor disputes or strikes. The date of completion of the IMPROVEMENTS shall be reflected in the Certificate of Completion issued by the City of Paris, Texas, referred to above. TAX ABA TDtENT AGREEMENT. Page 2