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b . " Default " - failure to comply with the terms of this Agreement . <br /> c . "Effective Date " - shall have the meaning set forth in Paragraph 3 . A . herein . <br /> d . " Expansion of an existing business " - shall be defined as a business <br /> establishing 5 or more jobs to employ 5 or more full -time employees in the <br /> County . <br /> e . " Full-time Equivalent Job " we, shall be defined as a position that is scheduled <br /> for at least 3 5 hours per week . <br /> f "New Business " — shall be defined as a business establishing 5 or more jobs <br /> to employ 5 or more full -time employees in the County within the term of the <br /> Grant , (as such term is hereinafter defined) provided that such business first <br /> begins operations on a site in the County clearly separate from any other <br /> operation owned by the same business . <br /> g . " Indian River County Average Annual Wage" — shall be defined as the <br /> average annual wage per job in Indian River County as determined by Florida <br /> Agency for Workforce Innovation, Labor Market Statistics Center, Quarterly <br /> Census of Employment and Wages Program , in cooperation with the U . S . <br /> Department of Labor, Bureau of Labor Statistics . <br /> 2 . Term ; Termination . This Agreement shall be effective on September 22 , 2009 (the <br /> " Effective Date ") , and shall automatically terminate after the COUNTY has made the <br /> last payment to the COMPANY unless terminated earlier by the COUNTY because <br /> of a default by the COMPANY . <br /> 3 , Grant Eligibility ; Payment Schedule . <br /> a . The COMPANY will be eligible for a total Jobs Grant Funding (hereinafter a <br /> " Grant " ) in an amount of up to $208 ,000 . Said Grant shall be payable in 3 <br /> year periods by Phase as more specifically set forth herein . The COMPANY <br /> acknowledges and agrees that the initial Grant under this Agreement is <br /> payable on a re - imbursement basis . There are a total of 9 separate Phases . <br /> The eligible Grant amount for each Phase will be determined 1 year after <br /> each Phase date . <br /> ( i ) For Phase 1, at least 9 new qualifying jobs meeting the wage level <br /> commitment in Section 6 of this Agreement must be provided by 12/31 /09 . <br /> For each of the three annual successive periods that those jobs are maintained <br /> -2 - <br />