Common use of Additional Incentive for Employing Economically Disadvantaged Individuals Clause in Contracts

Additional Incentive for Employing Economically Disadvantaged Individuals. a. For each year during which the Company demonstrates that at least 25% of its New Full-time Jobs were occupied by members of the Targeted Hiring Population as defined in the Business Expansion Program Guidelines (Exhibit A), or by Economically Disadvantaged individuals as defined by the City’s Business Expansion Program Index of Definitions (Exhibit B) or by the State of Texas Enterprise Zone program at section 2303.402(c) of the Texas Local Government Code (attached as Exhibit G to this Agreement), the City shall pay the Company: 1. An additional 10% of the Eligible City Property Taxes levied on New Improvements as defined in section 2.1.07 for the NXP Expansion located at the Company’s Oak Hill and ATMC facilities in Austin, Texas; plus 2. An additional 10% of the Eligible City Property Taxes levied on New Equipment and Machinery defined in section 2.1.07 that is installed in the Company’s Oak Hill and ATMC facilities in Austin, Texas. b. In order for a New Full-time Job to qualify toward this additional incentive, one or more Economically Disadvantaged individuals must have worked in the position for at least 1,500 hours during the year. If an Economically Disadvantaged individual occupying a New Full-time Job is terminated, the Company must maintain at least 25% of its New Full-time jobs occupied by members of the Targeted Hiring Population to be eligible under section 2.1.04.

Additional Incentive for Employing Economically Disadvantaged Individuals. a. For each year during which the Company demonstrates that at least 25% of its New Full-time Jobs were occupied by members of the Targeted Hiring Population as defined in the Business Expansion Program Guidelines (Exhibit A), or by Economically Disadvantaged individuals as defined by the City’s Business Expansion Program Index of Definitions (Exhibit B) or by the State of Texas Enterprise Zone program at section 2303.402(c) of the Texas Local Government Code (attached as Exhibit G to this Agreement), the City shall pay the Company: 1. An additional 10% of the Eligible City Property Taxes levied on New Improvements as defined in section 2.1.07 2.1.06 for the NXP Expansion located at the Company’s Oak Hill and ATMC facilities in Austin, Texas; plus 2. An additional 10% of the Eligible City Property Taxes levied on New Equipment and Machinery defined in section 2.1.07 2.1.06 that is installed in the Company’s Oak Hill and ATMC facilities in Austin, Texas. b. In order for a New Full-time Job to qualify toward this additional incentive, one or more Economically Disadvantaged individuals must have worked in the position for at least 1,500 hours during the year. If an Economically Disadvantaged individual occupying a New Full-time Job is terminated, the Company must maintain at least 25% of its New Full-time jobs occupied by members of the Targeted Hiring Population to be eligible under section 2.1.042.1.03.