Contract - Fisher Rosemount Systems, Inc. - 8/24/2017 FIRST AMENDMENT
TO THE
ECONOMIC DEVELOPMENT PROGRAM AGREEMENT
BETWEEN THE
CITY OF ROUND ROCK
AND
FISHER.ROSEMOUNT SYSTEMS,INC.
THIS FIRST AMENDMENT TO THE ECONOMIC DEVELOPMENT PROGRAM
AGREEMENT BETWEEN THE CITY OF ROUND ROCK AND FISHER ROSEMOUNT SYSTEMS,
INC. (the"First Amendment")is dated and entered into as of the day of -)2017,
by and between the City of Round Rock,Texas,a home rule municipal corporation,(the"Cil")-and Fisher
Rosemount Systems, Inc. a Delaware corporation("Fisher").
WHEREAS, on the 11" day of August, 2011, the City and Fisher previously entered into an Economic
Development Program Agreement(the"Agreement");and
WHEREAS,the parties with to amend certain terms and provisions in the Agreement;
NOW, THEREFORE, in consideration of the mutual covenants and agreements herein contained, the
sufficiency of which are hereby conclusively acknowledged, and subject to the terns and conditions
hereinafter set forth,the parties agree as follows:
ARTICLE 1
DEFINITIONS
All terms used herein shall have the meanings assigned to them in the Agreement,unless the context clearly
requires otherwise.
ARTICLE II
AMENDMENT TO SEC.2.4
Section 2.4 of the Agreement is hereby amended to read as follows:
2.4 "Improvements" means the finish out of and additions to the Facility, and personal
property and equipment with a minimum ad valorem tax value of fifty million dollars
($50,000,000).
ARTICLE III
AMENDMENT TO SEC. 4.3.2
Section 4.3.2 of the Agreement is hereby amended to read as follows:
First Amendment;Clean; 6-7-17 (00379873).docx
4.3.2 Additional Jobs. Fisher agrees that it will have the number of full-time employees and/or
contract workers on the dates set forth below:
Date Number of Full-time employees
January 1, 2017 745
January 1,2018 745
January 1, 2019 745
ARTICLE IV
AMENDMENT TO SEC.4.4
Section 4.4 of the Agreement is hereby amended to read as follows:
4.4 I-loteilinotel stays.Fisher agrees to generate the number of hotel/motel nights in hotels and
motels located in the City limits as set forth below:
Year Number of Hotel/motel Nights
2016 7,500
2017 6,000
2018 6,750
Fisher agrees to file with the City no later than February 1 of each year,beginning February
1, 2018, an affidavit with supporting documentation stating that this obligation has been
satisfied for the previous calendar year. City shall have the right to audit Fisher's records
to verify that this obligation has been satisfied.
ARTICLE V
MISCELLANEOUS
5.1 To the extent necessary to effect the terms and provisions of this First Amendment,the Agreement
is hereby amended and modified. In all other respects, the aforesaid Agreement is hereby ratified and
confirmed.
5.2 This First Amendment may be executed in counterparts,each of which shall be an original and all
of which together shall constitute but one and the same instrument.
IN WITNESS WHEREOF, the parties hereto have caused this First Amendment to be duly
executed as of the day and year first above written.
(Signatures on Following Pages)
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CITY OF R UND ROCK,TEXAS
By:
Craig M/gan,May r
Attest:
&VAIL., i et7�4
Sara White,City Clerk
Approv d a to form
zi
Stephan . heets, City Attorney
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FISHER ROSEMOUNT SYSTEMS,INC.
'f
By: , C
Printed Name:
Its; T,j lin+-
4