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Agenda Package - 03-21-11
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Agenda Package - 03-21-11
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6/20/2011 2:24:22 PM
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6/20/2011 2:19:53 PM
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030 <br />Performance Agreement <br />• <br />This Performance Agreement ( "Agreement ") is entered into this the 16" day of March, 2011 by and <br />between Lee County (LC) and Frontier Spinning Mills, Inc. ( "Frontier "), a North Carolina corporation. <br />RECITALS <br />WHEREAS, Frontier operates a spinning facility in North Carolina, employs 1,014 workers in its <br />North Carolina operations, and in the last 3 years purchased on average 165,167 bales of cotton per <br />year grown in North Carolina ( "NC Cotton "); and <br />WHEREAS, in order to decrease transportation costs, Frontier has been using ports in Florida and <br />Louisiana for shipments, and has explored moving production facilities closer to those ports, which would <br />have resulted in the loss of Frontier jobs in North Carolina and may have led to decreased sales of North <br />Carolina cotton to Frontier; and <br />WHEREAS, Lee County has received a grant (the "Grant ") from the Golden LEAF Foundation (the <br />"Foundation ") to be used by Lee County to purchase shipping pallets that Lee County will lease to <br />Frontier to allow Frontier to more efficiently use the North Carolina ports and retain its employees and <br />operations in North Carolina (the "Lease "); <br />WHEREAS, the terms of the Grant conditions release of grant funds on Frontier committing to <br />• retain its current level of employment in North Carolina and its current level of purchases of NC Cotton; <br />and <br />WHEREAS, this Agreement is intended to satisfy the conditions of the Grant and to allow Lee <br />County to receive grant funds and purchase and lease the pallets to Frontier; <br />NOW, THEREFORE, in consideration of the mutual promises and consideration set forth herein, <br />the parties agree as follows: <br />1. Job Retention: <br />a. Frontier represents that there are currently 1014 Frontier employees that work in <br />Frontier's North Carolina factories, offices, and other facilities (the "NC <br />Employees "). <br />b. Annually on the anniversary of the execution of this Agreement, Frontier will <br />provide to Lee County NCUI -101 forms or other documentation reasonably <br />satisfactory to Lee County showing the current number of NC Employees. <br />c. On the fifth anniversary of the execution of this Agreement, Lee County shall <br />determine the mean number of NC Employees employed by Frontier during the <br />term of this Agreement by adding the number of NC Employees shown on the <br />information provided by Frontier to Lee County pursuant to Section 1.b, above, and <br />dividing the total by five (5). <br />
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