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HomeMy WebLinkAboutC2013-201 - 6/25/2013 - ApprovedI In consideration of the covenants, promises, and conditions stated in this Agreement, a. A "job" is defined in the Type A Guidelines as a full-time employee, contractor, consultant, or leased employee who has a home address in the Corpus Christi MSA. b. Sam Kane agrees to confirm and document to the Corporation that the minimurr number of jobs created as a result of funding provided by this Agreement is maintained throughout the term by the Business. c. Sam Kane agrees to provide Corporation with a sworn certificate by authorized representative of each business assisted under this Agreement certifying the number of full-time permanent employees employed by the business. E - ► r ■ - � • r �� -, � - • • �+ '_.� � x� a vro2r, Type A Bus Incen Agmt Sam Kane Beef 5-30-13 a M a 4 a. +©. required written notice© shall be sent mailed, certified mail, postage prepaid, addressed as follvtfs: L-r wl"V 0 -0 3TTK37M ale I TZRI Attn: President f.#.#+» 9254 Corpus Christi, TX 78469 IWITNTSTF, *Q§,« City of Corpus Christi Attn.: Executive Director 1201 Leopard Street Corpus Christi, Texas 78401 b. A copy of all notices and correspondence must be sent the City at the following 7-ddress: City of Corpus Christi Attn.: City Manager P.O. Box 9277 Corpus Christi, Texas 78469-9277 c. Notice is effective upon deposit in the United States mail in the manner providel' above. 22. Incorporation of other documents. The Type A Guidelines, as amended, are incorporated into this Agreement. � 23. Amendments or Modifications. No amendments or modifications to this Agreement may made, nor any provision waived, unless in writing signed ■ a person duly authorized to si Agreements on behalf of each party. I 24. Relationship • Parties. In performing this Agreement, both the Corporation and Sam Kane will act in an individual capacity, and not as agents, representatives, employees, employers, partners, joint-venturers, or associates of one another. The employees or agents of either party may not be, nor be construed to be, the employees or agents of the other party for any purpose. 25. Captions. The captions in this Agreement are for convenience only and are not a part • this Agreement. The captions do not in any way limit or amplify the terms and provisions of this Agreement. 28. Sole Agreement. This Agreement constitutes the sole Agreement between Corporation and Sam Kane. Any prior Agreements, promises, negotiations, or representations, verbal or otherwise, not expressly stated in this Agreement, are of no force and effect. 29. Survival of terms of Agreement and obligations of parties. The terms of this Agreement and the obligation • the parties relating to Section 26. a and • shall survive the termination of this Agreement. ii w !M ZY: Armando Chapa Assistant Secretary 0 I-Inluo This instrument was acknowledged before me on �eW � 2013, by Louis A. Waters, Jr., President, for Sam Kane Beef Processors, LLC-a Texas Limited Liability Company, on behalf of the Sam Kane Beef Processors, LLC, - I Notary Nblic State of Texas Type A Bus In Amt Sam Kane Beef 6-30-13 BRENDA G. HERA My COMMISSION EXPIRES APRIL 017 1 . Sam Rane shall retain 739 full-time jobs, with an average annual salary of $27,700 per year as described in the schedule below, Sam Kane shall create 100 full-time jobs over the term of this Agreement. Year Number o Number f Annual Payroll Capital New J®s Retained Jo Jos Investment 1 0 739 20,470,6-0-0 _0 - - 2 - - - -- -- -- -- -- ------------ -- ----- 25 739 21,855,300 0 3 25 739 23,240,300 0 4 25 739 24,625,300 0 5 25 739 26,010,300 0 a. Grants, not to exceed $600,000 per year and a cumulative total of $3,000,000 over five years, are available on a per job created/retained basis. b. Should the Company fall below the Performance Standards in any one year, th: Company shall receive a reduced percentage of the Cash Incentive in effect that year. Such reduction will be in that percentage equal to the percentage the Company'S irerformance falls below the Performance Standards. However if the Company falls : welow 70% then there is no payment for that year. "=I- MRI IMMIll Annual payroll commitment: 5th year: 739 employees Actual: 700 employees Cash Incentive: 700/739 X $600,000 = $568,335.59 2. The Corporation will award a grant to Sam Kane based on the formula above, payable n later than 30 days after the completion of the compliance report each year if Sam Kane retai the minimum number of in the preceding year described in paragraph 1 above (collectively, t itannual performance benchmarks"). I ®i Type A Business Incentive Agreement Sam Kane 5-30-13 FINAL Type A Bus Incen Agmt Sam Kane Beef 5-30-13