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a. " Adjacent County " means Brevard , Osceola, St . Lucie , Okeechobee, and Martin Counties . b . " Annual Wage " - includes salary , bonuses , and commissions . c . " Default " - failure to comply with the terms of this Agreement . d . " Effective Date" on shall have the meaning set forth in Paragraph 2 herein . e . " Full - time Equivalent Job" - shall be defined as a position that is scheduled for at least 35 hours per week . f. " Indian River County Average Annual Wage" — shall be defined as the average annual wage per job in Indian River County as determined by Florida Agency for Workforce Innovation , Labor Market Statistics Center, Quarterly Census of Fmployment and Wages Program , in cooperation with the U . S . Department of Labor, Bureau of Labor Statistics . Currently , the County ' s average annual wage is $ 33 , 947 (effective January I sr 2012 for the state QTI Tax Refund Program ) . This dollar value shall be used for the duration of this agreement for determining local jobs grant incentives . g . " New Business " — shall be defined as a business establishing 5 or more new jobs to employ 5 or more new full -time employees in the County within the term of the Grant, ( as such term is hereinafter defined ) provided that such business first begins operations on a site in the County clearly separate from any other operation owned by the same business . h . "Quarterly Unemployment Compensation Report (UCT-6 form )" — Form from the Florida Department of Revenue that businesses in the state of Florida must complete and submit to the state on a quarterly basis . Information collected on the form includes the names of employees , their social security numbers, and the gross wages paid to each employee on a quarterly basis . The information is used for unemployment compensation should employees cease to be employed . For purposes of this jobs grant agreement, this definition shall also include other similar county approved certified forms from COMPANY or COMPANY ' s professional employer organization . i . " Relocation of a business " — a business relocating to Indian River County and employ 5 or more full -time employees in the County . 2 . Term , Termination . This Agreement shall be effective as of date of this agreement stated on page I and shall automatically terminate after COUNTY has made the last payment to COMPANY unless terminated earlier by COUNTY because of default by COMPANY . - 2 -