Jobs Creation Clause Samples

Jobs Creation. The Parties acknowledge that (i) the City has entered into that certain Funding Approval/Agreement (B-02-MC-06-0501) with the United States Department of Housing and Urban Development (“HUD”) pursuant to which HUD has provided Ten Million Dollars ($10,000,000) to the City to pay for certain costs associated with the Project (the “Section 108 Loan for the Project”), (ii) pursuant to that certain Second Amended and Restated Cooperation Agreement (Lincoln/Beach Section 108 Loan) dated as of July 1, 2004 between the City and Anaheim Redevelopment Agency (the “City/Agency Cooperation Agreement”), the Anaheim Redevelopment Agency utilized the proceeds of the Section 108 Loan for the Project, and (iii) in consideration for making the Section 108 Loan for the Project, HUD requires, among other things, that the City provide that at least fifty-one percent (51%) of the jobs created by the operation of the Project (the “Project Jobs”) be held by, or be made available to, persons of low and moderate income (the “HUD Jobs Creation National Objective”). Accordingly, the Parties intend to satisfy the HUD Jobs Creation National Objective as set forth in this Section 404. Project Jobs Description. Prior to commencing construction of the Project with respect to each of the Major Retailer(s), Developer shall provide City a description, in a form reasonably acceptable to City, of all of the Project Jobs, indicating which of the Project Jobs are full time equivalent positions (the “Project Jobs Description”); the Project Jobs Description shall denote which of the Project Jobs have job qualifications requiring no more than a high school education and/or one (1) year of training or work experience (“Qualifying Project Jobs”). Developer shall update the Project Jobs Description promptly upon a substantial change in such jobs and/or job qualifications, but in no event less than annually. Project Jobs Available to Low and Moderate Income Persons. Developer shall provide that at least fifty-one percent (51%) of the Project Jobs are made available to low and moderate income persons. Accordingly, Developer shall do the following: Concurrently with Developer’s delivery of the Project Jobs Description, Developer shall submit to City for City review and approval a list of which employers within the Project shall provide “First Consideration” to “Qualifying Job Applicants” in accordance with (b), below. The list shall include employers of not less than 75% of the jobs available within the...
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Jobs Creation. The Parties acknowledge that (i) the City has entered into that certain Funding Approval/Agreement (B-02-MC-06-0501) with the United States Department of Housing and Urban Development (“HUD”) pursuant to which HUD has provided Ten Million Dollars ($10,000,000) to the City to pay for certain costs associated with the Project (the “Section 108 Loan for the Project”), (ii) the City has also entered into that certain ▇▇▇▇▇▇▇▇▇▇ Economic Development (BEDI) Grant Agreement (“BEDI Grant Agreement”) with HUD pursuant to which HUD granted the City Six Hundred Fifty Thousand Dollars ($650,000) to be used for the purpose of paying interest on the ▇▇▇▇▇▇▇ ▇▇▇ ▇▇▇▇, (▇▇▇) pursuant to that certain Second Amended and Restated Cooperation Agreement (Lincoln/Beach Section 108 Loan) dated as of July 1, 2004 between the City and Anaheim Redevelopment Agency (the “City/Agency Cooperation Agreement”), the Anaheim Redevelopment Agency utilized the proceeds of the Section 108 Loan for the Project, and (iv) in consideration for making the Section 108 Loan for the Project and entering into the BEDI Grant Agreement, HUD requires, among other things, that the City provide that at least fifty-one percent (51%) of the jobs created by the operation of the Project (the “Project Jobs”) be held by, or be made available to, persons of low and moderate income (the “HUD Jobs Creation National Objective”). Accordingly, the Parties intend to satisfy the HUD Jobs Creation National Objective as set forth in this Section 404. For the purposes of this Section 404, the term “Project” shall include all activities on the Retail Component Property, the Mixed Use Commercial Component Property, and the Grocery Store Component Property that qualify as “Project Jobs.”
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Jobs Creation. By the end of the Term, the Company shall provide evidence to the Board that the Project is directly responsible for the creation or retention of ten (10) full-time jobs in the City (the “Jobs”). A Job shall be any position that requires at least thirty (30) hours of work to be performed in one (1) calendar week.
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Jobs Creation. The Company shall create twenty-five (25) full time jobs within two years after the Closing Date on its payroll pursuant to the plan submitted as Appendix A to the HUD Addendum.
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Related to Jobs Creation

  • Deferral of Compensation The Company shall implement deferral arrangements, reasonably acceptable to Executive and the Company, permitting Executive to elect to defer receipt, pursuant to written deferral election terms and forms (the "Deferral Election Forms"), of all or a specified portion of (i) his annual Base Salary and annual incentive compensation under Sections 4 and 5, (ii) long term incentive compensation under Section 6 and (iii) shares acquired upon exercise of options to purchase Company common stock that are acquired in an exercise in which Executive pays the exercise price by the surrender of previously acquired shares, to the extent of the net additional shares otherwise issuable to Executive in such exercise; provided, however, that such deferrals shall not reduce Executive's total cash compensation in any calendar year below the sum of (i) the FICA maximum taxable wage base plus (ii) the amount needed, on an after-tax basis, to enable Executive to pay the 1.45% medicare tax imposed on his wages in excess of such FICA maximum taxable wage base. In accordance with such duly executed Deferral Election Forms, the Company shall credit to a bookkeeping account (the "Deferred Compensation Account") maintained for Executive on the respective payment date or dates, amounts equal to the compensation subject to deferral, such credits to be denominated in cash if the compensation would have been paid in cash but for the deferral or in shares if the compensation would have been paid in shares but for the deferral. An amount of cash equal in value to all cash-denominated amounts credited to Executive's account and a number of shares of Company common stock equal to the number of shares credited to Executive's account pursuant to this Section 7(b) shall be transferred as soon as practicable following such crediting by the Company to, and shall be held and invested by, an independent Except as otherwise provided under Section 10, in the event of Executive's termination of employment with the Company or as otherwise determined by the Committee in the event of hardship on the part of Executive, upon such date(s) or event(s) set forth in the Deferral Election Forms (including forms filed after deferral but before settlement in which Executive may elect to further defer settlement), the Company shall promptly pay to Executive cash equal to the value of the assets then credited to Executive's deferral accounts, less applicable withholding taxes, and such distribution shall be deemed to fully settle such accounts; provided, however, that the Company may instead settle such accounts by directing the Trustee to distribute Company common stock and/or other assets of the "rabbi trust." The Company and Executive agree that compensation deferred pursuant to this Section 7(b) shall be fully vested and nonforfeitable; however, Executive acknowledges that his rights to the deferred compensation provided for in this Section 7(b) shall be no greater than those of a general unsecured creditor of the Company, and that such rights may not be pledged, collateralized, encumbered, hypothecated, or liable for or subject to any lien, obligation, or liability of Executive, or be assignable or transferable by Executive, otherwise than by will or the laws of descent and distribution, provided that Executive may designate one or more beneficiaries to receive any payment of such amounts in the event of his death.

  • Compensation Program Amendments Each of the Company’s compensation, bonus, incentive and other benefit plans, arrangements and agreements (including golden parachute, severance and employment agreements) (collectively, “Benefit Plans”) with respect to you is hereby amended to the extent necessary to give effect to provisions (1) and (2). For reference, certain affected Benefit Plans are set forth in Appendix A to this letter. In addition, the Company is required to review its Benefit Plans to ensure that they do not encourage senior executive officers to take unnecessary and excessive risks that threaten the value of the Company. To the extent any such review requires revisions to any Benefit Plan with respect to you, you and the Company agree to negotiate such changes promptly and in good faith.

  • Section 409A Amendment The Award is intended to be exempt from Code Section 409A and this Award Agreement shall be administered and interpreted in accordance with such intent. The Committee reserves the right (including the right to delegate such right) to unilaterally amend this Award Agreement without the consent of the Participant in order to maintain an exclusion from the application of, or to maintain compliance with, Code Section 409A; and the Participant hereby acknowledges and consents to such rights of the Committee.

  • Illegal or Unauthorized Payments; Political Contributions Neither the Company nor any of its Subsidiaries nor, to the best of the Company’s knowledge (after reasonable inquiry of its officers and directors), any of the officers, directors, employees, agents or other representatives of the Company or any of its Subsidiaries or any other business entity or enterprise with which the Company or any Subsidiary is or has been affiliated or associated, has, directly or indirectly, made or authorized any payment, contribution or gift of money, property, or services, whether or not in contravention of applicable law, (i) as a kickback or bribe to any Person or (ii) to any political organization, or the holder of or any aspirant to any elective or appointive public office except for personal political contributions not involving the direct or indirect use of funds of the Company or any of its Subsidiaries.

  • No Advice Regarding Award The Company is not providing any tax, legal or financial advice, nor is the Company making any recommendations regarding your participation in the Plan, or your acquisition or sale of the underlying Shares. You are hereby advised to consult with your own personal tax, legal and financial advisors regarding your participation in the Plan before taking any action related to the Plan.