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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 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 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 COUNTY as determined by Florida Agency for Workforce <br /> Innovation,Labor Market Statistics Center,Quarterly Census of Employment and <br /> Wages Program, in cooperation with the U.S. Department of Labor, Bureau of <br /> Labor Statistics. Currently, the COUNTY's average annual wage is $39,390 <br /> (effective January 1St 2017 for the state QTI Tax Refund Program). This dollar <br /> value shall be used for the duration of this Agreement for determining local jobs <br /> 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 <br /> owned by the same business. <br /> h. Commencement Date" —the date that the COUNTY begins tracking qualifying <br /> jobs for potential local jobs grant payments. Such date shall start on one of the <br /> following dates: January 15t,April 1st,July 1St,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 job" —a full-time equivalent job having an annual wage equal to or <br /> greater than 75%of Indian River County's Average Annual Wage. Such jobs must <br /> be filled by people who live in COUNTY or Adjacent Counties. <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 /> wages paid to each employee on a quarterly basis. The information is used for <br /> reemployment compensation should employees cease to be employed. For <br /> -2- <br />