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a. "Adjacent Counties"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 terns 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 tern of the Grant. <br /> e. "Full-time Equivalent Job"-shall be defined as a position that is scheduled for at <br /> 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 /> $37,882 (effective January l" 2016 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 to <br /> 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. Commencement Date"—the date that the County begins tracking qualifying jobs <br /> for potential local jobs grant payments. Such date shall start on one of the <br /> following dates: January 1",April 1",July 1",or October 1'of a year agreed to by <br /> COUNTY as established within this Agreement or as otherwise modified in <br /> accordance with this Agreement. <br /> i. "Qualifying fob" — a full-time equivalent job having an annual wage equal to or <br /> greater than 75% of Indian River County's Average Annual Wage. <br /> j. "Quarterly Reemployment Compensation Report (RT-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 /> -2- <br />