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846
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<br />1. PCT agrees to make improvements to the Facility in Paris, Texas, located at F.M. 1508,
<br /> Paris, Texas, as follows: construct six (6) additional bays. Such improvements will consist
<br /> of equipment to facilitate this expansion at the Facility. PCT further agrees to create at
<br /> least seven (7) new, permanent, full-time jobs paid at a rate of at least $9.00 per hour or
<br /> more, with benefits, during a three (3) year period, beginning December 18, 2002, and
<br /> ending December 17, 2003.
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<br />2. The improvements and procurements described in Paragraph 1 hereof will be at a minimum
<br /> cost of Thirty Thousand and no/100 Dollars ($30,000.00), and shall be substantially
<br /> completed by June 17, 2003; provided, that PCT shall have such additional time to
<br /> complete the improvements as may be required in the event of "force majeure" if PCT is
<br /> diligently and faithfully pursuing completion of the improvements. For this purpose,
<br /> "force majeure" shall mean any contingency or cause beyond the reasonable control of
<br /> PCT including, without limitation, acts of God, or the public enemy, any natural disaster,
<br /> war, riot, civil commotion, insurrection, governmental or de facto governmental action,
<br /> unless caused by acts or omissions of PCT, fires, explosions, accidents, floods, and labor
<br /> disputes or strikes.
<br />
<br />3. In return for the consideration described in Paragraphs 1 and 2 hereof, PEDC agrees to
<br /> provide Two Thousand and no/100 Dollars ($2,000.00) for each new, permanent, full-time
<br /> job created as a result of the expansion in excess of the twenty-three (23) jobs already in
<br /> existence at the time negotiations first began; provided PCT shall create a minimum of at
<br /> least seven (7) new jobs and shall be eligible to receive incentive payments of Two
<br /> Thousand and no/100 Dollars ($2,000.00) per new job for up to no more than a total of
<br /> twelve (12) additional jobs in excess of the existing twenty-three (23) jobs referenced
<br /> herein; for a total potential incentive not to exceed Twenty-four Thousand and no/100
<br /> Dollars ($24,000.00). All jobs created to receive the PEDC incentive shall be located at
<br /> the PCT facility at F.M. 1508 in Paris, Texas. The seven (7) initial new, permanent jobs
<br /> shall be created not later than December 17, 2003, and must be maintained during the
<br /> remainder of the term of this agreement. As referenced above, PCT may receive
<br /> incentives for up to five (5) additional new, permanent jobs in excess of the required seven
<br /> (7) jobs so long as those jobs are created not later than June 17, 2004, and such additional
<br /> jobs must be maintained during the remainder of the term of this agreement. For purposes
<br /> of this agreement, a full-time job shall be one in which the employee works a minimum
<br /> of forty (40) hours in a seven (7) day work week, fifty-two (52) weeks per year, less
<br /> holidays, sick leave, and vacation, or its equivalent.
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<br /> An advance incentive payment in the amount of Fourteen Thousand and no/100 Dollars
<br /> ($14,000.00) in anticipation of the first seven (7) new, permanent jobs shall be made to
<br /> PCT within sixty (60) days of the date of this agreement. If PCT creates more than seven
<br /> (7) new, permanent jobs, not to exceed twelve (12), PEDC agrees to pay the incentive
<br /> payments within sixty (60) days of receipt of copies of the Texas Workforce Commission
<br /> Employer's Quarterly Report evidencing the creation of such additional jobs. These
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