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NOW, THEREFORE, in consideration of the premises and mutual covenants hereinafter <br /> contained, the parties do agree as follows . <br /> 1 . Definitions . As used in this Agreement, the following terms shall mean. <br /> a . "Adjacent County" means Brevard, Osceola, St. Lucie, Okeechobee, and Martin <br /> Counties . <br /> b . "Annual Wage" - includes salary, bonuses, and commissions. <br /> c . " Default" - failure to comply with the terms of this Agreement. <br /> d . "Expanding Business" — shall be defined as a business expanding its operation <br /> over and above its base employment amount at the time of jobs grant approval by <br /> 5 or more new jobs to employ 5 or more new full-time employees in the, County <br /> within the term of the Grant. <br /> e . "Full-time Equivalent Job" - shall be defined as a position that is scheduled for <br /> at least 35 hours per week. <br /> f. "Indian River County Average Annual Wage" — shall be defined as the average <br /> annual wage per job in Indian River County as determined by Florida Agency for <br /> Workforce Innovation, Labor Market Statistics Center, Quarterly Census of <br /> Employment and Wages Program, in cooperation with the U. S . Department of <br /> Labor, Bureau of Labor Statistics . Currently, the County' s average annual wage is <br /> $ 34 , 119 (effective January 1St 2013 for the state QTI Tax Refund Program) . This <br /> dollar value shall be used for the duration of this agreement for determining local <br /> jobs grant incentives . <br /> g . "New Business " — shall be defined as a business establishing 5 or more new jobs <br /> to employ 5 or more new full-time employees in the County within the term of the <br /> Grant (as such term is hereinafter defined), provided that such business first begins <br /> operations on a site in the County clearly separate from any other operation owned <br /> by the same business. <br /> h. "Quarterly Unemployment Compensation Report (UCT-6 form)" — Form from the <br /> Florida Department of Revenue that businesses in the state of Florida must <br /> complete and submit to the state on a quarterly basis. Information collected on the <br /> form includes the names of employees, their social security numbers, and the gross <br /> wages paid to each employee on a quarterly basis . The information is used for <br /> unemployment compensation should employees cease to be employed . For <br /> purposes of this jobs grant agreement, this definition shall also include other <br /> similar county approved certified forms from COMPANY or COMPANY ' s <br /> professional employer organization. <br /> -2- <br />