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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 2 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" - shall be defined as a position that is scheduled <br /> for at least 35 hours per week . <br /> f. "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 . Currently, the County ' s <br /> average annual wage is $ 35 , 879 (2008 value , effective January 1 " 2010 for <br /> the state QTI Tax Refund Program) . This dollar value shall be used for the <br /> duration of this agreement for determining local jobs grant incentives . <br /> g . "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 /> h . " Quarterly Unemployment Compensation Report (UCT- 6 form) " — Form <br /> from the Florida Department of Revenue that businesses in the state of <br /> Florida must complete and submit to the state on a quarterly basis . <br /> Information collected on the form includes the names of employees , their <br /> social security numbers , and the gross wages paid to each employee on a <br /> quarterly basis . The information is used for unemployment compensation <br /> should employees cease to be employed . For purposes of this jobs grant <br /> agreement, this definition shall also include other similar county approved <br /> certified forms from COMPANY or COMPANY ' s professional employer <br /> organization . <br /> 2 . Term ; Termination , This Agreement shall be effective on August 17 , 2010 (the <br /> "Effective Date") , and shall automatically terminate after COUNTY has made the <br /> last payment to COMPANY unless terminated earlier by COUNTY because of a <br /> default by COMPANY . <br /> 3 . Grant Eligibility ; yment Schedule . <br /> - 2 - <br />