2013-041 Approving an Economic Incentive Agreement between the Paris Economic Development Corporation and JS Baking, LLC

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4. Skinner shall create and maintain the 393 FTE jobs referenced above at the Facility throughout the term of this Agreement. The actual timeline for job creation may be slightly different ( + / -) from the estimates in the chart above. Skinner will be paid only for the FTE jobs created during the previous 12 -month period, not to exceed 393 over the term of this Agreement. 5. Skinner shall train the new employees in the Skinner baked goods product lines, to work in Skinner's high- performance organization and high - performance work systems, and to maximize productivity and cost competitiveness at the Facility. 6. Skinner shall continue to operate a fail -scale bakery plant with a diversified product line at the Facility throughout the term of this Agreement. 7. Skinner shall provide annual compliance statements to Paris EDC on or before January 7a' of each year of this Agreement, in a form acceptable to Paris EDC, that verifies that Skinner is in fall compliance with all terms and conditions of this Agreement. The first compliance report from Skinner will be due on or before January 7, 2014. 8. Skinner shall provide year -end employment and payroll reports to Paris EDC and a copy of the Texas Workforce Commission's Quarterly Employment Reports, which verifies that Skinner has retained the minimum number of FTE jobs at the Facility on the same time frame. B. Skinner Represents to Paris EDC the following: Skinner has filed all necessary plats, site plans and building permit applications with the City of Paris, Texas ( "City ") to construct and complete the first stage of improvements and modifications to the Facility. Skinner has pulled all necessary building permits, and complied with all City ordinances, building and development codes in making the improvements to the Facility, and Skinner agrees to follow this procedure for the remaining phases of capital improvements to the Facility. 2. Skinner agrees to allow any designated representative of Paris EDC onto the Property and inside the Plant Facility at any time throughout the term of this Agreement, or any extension thereof, upon forty -eight (48) hours' notice, to verify that the capital improvements to the Facility have been completed. 3. For purposes of this Agreement, a full -time equivalent job ( "FTE ") shall mean employment by Skinner of one or more persons to perform a single job, either individually or between them, (i) to work at the Facility in its high performance organization/work system, and (ii) for a period of time which, in the aggregate, totals forty (40) working hours during a seven -day work week, or (iii) two- thousand eighty (2,080) hours during a calendar year, adjusted for use of employee paid leave. The calculation of total FTEs eligible for reimbursement shall be total full -time employees on official company payroll records, including benefits and with an average of 3