15-APPROVE RES APPROVING AND AUTHORIZING TAX ABATEMENT AGREEMENT WITH KIMBERLY-CLARK CORP

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and the improvements to be installed therein in the amounts set forth in this Agreement, and the other terms hereof are consistent with encouraging development of said Reinvestment Zone in accordance with the purposes for which it was created and are in compliance with the City's policy on tax abatement incentives and the ORDINANCE creating such Reinvestment Zone adopted by the City and all applicable laws; NOW, THEREFORE, The Parties hereto do mutually contract and agree as follows: 1. Term 1.1 The term of this Agreement shall begin on the 13th day of August, 2012, with tax abatement granted herein beginning with the tax year beginning January 1, 2013, and expiring on December 31, 2022. H. The "Property" - Area to be Improved 2.1 The Improvements (defined in paragraph III, below) which are the subject of this Agreement shall be located within that portion of the buildings (herein called the "Property") located at the Paris, Texas Plant owned by the Owner and described in Exhibit A, attached hereto (which Property is within the Reinvestment Zone and the Enterprise Zone). III. Owner's Land - Where Improvements Will Be Located 3.1 The Owner's current facilities consist of land, buildings, and other structural improvements at the Owner's Paris, Texas plant described in Exhibit B, attached hereto. The Owner shall make improvements and replacements (herein called the "Improvements") to the equipment within the Property in the locations shown on Exhibit A, above. The Owner's operations in Paris, Texas, are part of its Personal Care Division which manufactures and markets disposable diapers, training and youth pants, swim pants, baby wipes, feminine incontinence care products and related products. Over the next five years, the Owner has determined to invest approximately $150 million dollars to significantly enhance its machinery and equipment at its Paris, Texas plant, located at Loop 286 SW and FM 137, in Paris, Lamar County, Texas, to create the conditions necessary for long-term growth, all as is more particularly shown in detail in Exhibit A attached hereto. These expenditures are "product improvement investments related to existing production lines", in the Baby Care and Child Care Buildings, and Case Handling Upgrades in the Logistics Building; and they will consist of investments made to upgrade machinery and equipment technology used in the diaper manufacturing process specifically related to the Owner's products known as Huggies, Pull-Ups, Goodnights and Little Swimmers produced at the Paris, Texas plant. For example, new equipment enhancements will enable the Owner to add new features to its Pull-Up training pants, and to introduce a new slip-on diaper, which would, in turn, allow the Owner to remain competitive with other product offerings in the -2 71