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b. "Annual Wage" - includes salary, bonuses, and commissions. c. "Default" - failure to comply with the terms of this Agreement. d. "Expanding Business" — shall be defined as a business expanding its operation over and above its base employment amount at the time of jobs grant approval by 5 or more new jobs to employ 5 or more new full-time employees in the COUNTY within the term of the Grant. e. "Full-time Equivalent Job" - shall be defined as a position that is scheduled for at least 35 hours per week. f. "Indian River County Average Annual Wage" — shall be defined as the average annual wage per job in COUNTY as determined by the Florida Agency for Workforce Innovation, Labor Market Statistics Center, Quarterly Census of Employment and Wages Program, in cooperation with the U.S. Department of Labor, Bureau of Labor Statistics. Currently, the COUNTY's average annual wage is $53,863. This dollar value shall be used for the duration of this Agreement to determine local job grant incentives. g. "New Business" —shall be defined as a business establishing 5 or more new jobs to employ 5 or more new full-time employees in the COUNTY within the term of the Grant (as such term is hereinafter defined), provided that such business first begins operations on a site in the COUNTY clearly separate from any other operation owned by the same business. h. Commencement Date" — the date that the COUNTY begins tracking qualifying jobs for potential local jobs grant payments. Such date shall start on one of the following dates: January 1St, April 1st, July 1st, or October 1st of a year agreed to by COUNTY as established within this Agreement or as otherwise modified in accordance with this Agreement. i. "Qualifying job" — a full-time equivalent job having an annual wage equal to or greater than 75% of Indian River County's Average Annual Wage. Such jobs must be filled by people who live in COUNTY or Adjacent Counties. j. "Quarterly Reemployment Compensation Report (RT-6 form)" — Form from the Florida Department of Revenue that businesses in the state of Florida must complete and submit to the state on a quarterly basis. Information collected on the form includes the names of employees, their social security numbers, and the gross wages paid to each employee on a quarterly basis. The information is used for reemployment compensation should employees cease to be employed. For purposes of this Agreement, this definition shall also include other similar COUNTY approved certified forms from COMPANY or COMPANY's professional employer organization. -2-