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<br />twelve (12) month period following the date of the initial <br />distribution of funds by the LPEDC. <br /> <br />3) a cash incentive in the amount of $15,000.00 will be distributed <br />after the conclusion of the twenty-four (24) month period <br />following the date of the initial distribution of funds by the <br />LPEDC, made pursuant to paragraph one (1) above, but not <br />before the LPEDC has had the opportunity to verify that the <br />following conditions have been met at the time of the proposed <br />payment: <br /> <br />a) Documentation demonstrating that 30 new full-time <br />employees have been hired by Recipient from the start of <br />operations (and which does not include employees <br />transferred from Recipient's preexisting operations), is <br />provided to LPEDC. Such documentation shall include <br />Federal and State employment reports and monthly report <br />to Texas State Comptroller. <br /> <br />b) WesMor has achieved annual gross sales of <br />$5,000,000.00 since receipt of the second installment, <br />pursuant to paragraph one (1), above, and documentation <br />indicating same is provided to the LPEDC. <br /> <br />c) WesMor provides all documentation required under this <br />section relating to hiring of new employees and annual <br />gross sales within 30 days after the conclusion of the <br />twenty-four (24) month period following the date of the <br />initial distribution of funds by the LPEDC. <br /> <br />4) a cash incentive in the amount of $15,000.00 will be distributed <br />after the conclusion of the thirty-six (36) month period following <br />the date of the initial distribution of funds by the LPEDC, made <br />pursuant to paragraph one (1) above, but not before the LPEDC <br />has had the opportunity to verify that the following conditions <br />have been met at the time of the proposed payment: <br /> <br />a) Documentation demonstrating that 35 new full-time <br />employees have been hired by Recipient from the start of <br />operations (and which does not include employees <br />transferred from Recipient's preexisting operations), is <br />provided to LPEDC. Such documentation shall include <br />Federal and State employment reports and monthly report <br />to Texas State Comptroller. <br /> <br />b) WesMor has achieved annual gross sales of <br />$5,500,000.00 since receipt of the third installment, <br />pursuant to paragraph one (1), above, and documentation <br />indicating same is provided to the LPEDC. <br /> <br />3 <br />