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cornmitnient h ll be submMed to l-PF)C ru) latpr ManAur ,quqt '11,
<br />20'14,.
<br />B, As a caindqion for the receil")t and' retention of each of the reforenced cash
<br />incenhvp, payi'vents rovided rn this Articl I, and as required by Texas
<br />Loca� vernment Code, section 501.158, Recipbnt shall prNdrr',, In I -PDC
<br />verificaOii that it has satisfied the following performance s1tand'ards, as
<br />applicaMe, to each of the projects, Based on the foregoing,, Rec,ilpi.ent
<br />agrees to the foHowing requiremen1s,
<br />1) FoT [lie Ethylene Ogide Project., Nm eupierit w0l subn'14 10 t1 ILI by
<br />Deceaiber 31, 2017"
<br />a) DOCUrnentatin domonstrating fi")at 60 new full-tiMO eMp,10yeeS
<br />have been hired y Recippent. SLXI"� dOGUnwmllation sI oll 41clocle
<br />Federal andlor State employment re -ports andr rion'thly report
<br />to, the Texas State Comptroller,
<br />b) Documentation that SUbstantiates Recipient's expenditure of a
<br />minimwi'i of 00, 00,t' 0i +0f ire caprial Investmeni.
<br />2), 1 'ne Project, Reciplent will 9,Ubriiit to the LDDC b,y
<br />a) Docua'ientation demonstrating that 24 11eW W111 --UR) e employees
<br />have been hired by Reciple-W. StAClr] documentation shall include
<br />17 edera'I andr State &nnployrnent reports andlur nrianthly report
<br />to the 'T-exas, State ComptroHer.
<br />b) Docur)ienlafion that SUbstatitiates Rcicipient's expenditure of a
<br />mMilmui')i of $250.000,000,00 in capital investment.
<br />Re(#ent will expend the cash incentive payty)erits only fewards the
<br />cons,truOorl of streets arid roads, drainage and related imp rove n'ients,
<br />aSSOCl01(;Id aCqUiSitiM CGSIS, 8nd atf-ier related PL1rpc)ses, aull-tori zed by
<br />"Texas Liacaa Govern,ment Coclo, chapters 501 xd 505, in furtherance of
<br />the Ethylene Oxide Project and the, Rolyetl-iylerle Project at the
<br />Battle g mLi nd MWT,AaCtUnng Complex, ruore, parti,culady described by
<br />metes mid, boundC-SCriptioin as refiected Exhibit A, attached to this
<br />agreement, and, j1,.1CO1nrpU1--'itod by r� fee-ence foi, all pUrposes.
<br />c
<br />Drshursenrent an(]/or retention of''the cash incenfive payments iderVifled in
<br />Article 11 of tl'',ils Agreem&A Sh be roade, as fnllovjs
<br />A, LPDC Slr'la 'Se
<br />� 11 diGIDLF to Recrpjent, Subject to the satJsfactlon of the
<br />mndMons precccluit ar uondjliorsubsequent contained within I of
<br />this Agreement as applivable for each project�
<br />3
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