2013-072 - Laserfiche WebLink

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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 1 and shall automatically terminate after COUNTY has made the last payment to COMPANY, unless terminated earlier by COUNTY because of a default by COMPANY . 3 . Grant Eligibility; Payment Schedule . a. COMPANY will be eligible for total Jobs Grant Funding (hereinafter a " Grant") in an amount of up to $94,000. Said Grant shall be payable in the following Phases specifically set forth herein. COMPANY acknowledges and agrees that the initial Grant under this Agreement is payable on a re-imbursement basis . There are a total of 3 separate Phases . The number of jobs estimated to be provided by phase is listed below. Jobs grant payments are dependent upon the number of employees exceeding the company ' s employment level at the time that this agreement is approved by the Indian River County Board of County Commissioners . (i) For Phase I, 10 new qualifying jobs meeting the wage level commitment in Section 5 of this Agreement will be provided by 12/31 / 13 . For each of the three successive annual periods that those jobs are maintained at the required wage level, COMPANY shall receive 1 /3 of the Grant amount for those 10 jobs . (ii) For Phase 1I , 13 new qualifying jobs meeting the wage level commitment in Section 5 of.this agreement will be provided by 12/31 / 14 . For each of the three successive annual periods that those jobs are maintained at the required wage level , COMPANY shall receive 1 /3 of the Grant amount for those 13 jobs . (iii) For Phase III, 1 new qualifying job meeting the wage level commitment in Section 5 of this agreement will be provided by 12/31 / 15 . For each of the three successive annual periods that that job is maintained at the required wage level, COMPANY shall receive 1 /3 of the Grant amount for that 1 job . (iv) It is understood that the quantity and types of jobs proposed by phase, their annual wages , and dates of hire are estimates . Because of that, the quantity and types of jobs provided in each phase may shift between phases, and phase commencement dates may be extended. Proposed jobs will remain eligible for local jobs grant incentives provided: -3 -