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DRAFT <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 <br />the form includes the names of employees, their social security numbers, and the <br />gross wages paid to each employee on a quarterly basis. The information is used <br />for reemployment compensation should employees cease to be employed. For <br />purposes of this Agreement, this definition shall also include other similar <br />COUNTY approved certified . forms from COMPANY or COMPANY's <br />professional employer organization. <br />k. "Relocation of a business" — a business relocating to COUNTY and <br />employing 5 or more full-time employees in the COUNTY. <br />1. "Target Industry" — An industry identified within the Target Industry List of the <br />Economic Development Element of COUNTY's Comprehensive Plan (Policy <br />2.5 of the Economic Development Element). <br />2. Term; Termination. This Agreement shall be effective as of the date of this <br />Agreement stated on page 1 and shall automatically terminate after one of the <br />following has occurred (whichever occurs first), unless terminated earlier by <br />COUNTY because of a Default by COMPANY. <br />a. COUNTY has made the last payment to COMPANY; <br />b. COMPANY did not employ a minimum of 5 new Qualifying Jobs by the <br />Commencement Date, as may be modified; or <br />c. COMPANY failed, for a period of 3 consecutive years (12 quarters), to provide <br />required Quarterly Reemployment Compensation Reports (RT -6 form) to <br />COUNTY. <br />Grant Eligibility-, Payment Schedule. <br />a. COMPANY will be eligible for total Jobs Grant Funding (hereinafter a "Grant") <br />in an amount of up to $150,000. COMPANY acknowledges and agrees that the <br />initial Grant under this Agreement is payable on a re -imbursement basis. The <br />number of jobs estimated to be provided is listed below. Jobs grant payments <br />are dependent upon the number of employees exceeding the company's <br />employment level at the time that this Agreement is approved by the Indian <br />River County Board of County Commissioners, and by the criteria set forth <br />below. <br />(i) For Phase I, 10 new qualifying jobs meeting the wage level commitment <br />in Section 5 of this Agreement shall be provided by the phase <br />-3- <br />Attachment 2 <br />56 <br />