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January 28, 2002 Page 267
<br />
<br />ADDENDUM TO INCENTIVE GRANT AGREEMENT
<br />
<br /> THIS ADDENDUM TO INCENTIVE GRANT AGREEMENT (the "Addendum") is made and
<br />entered into as of the 17tn day of January, 2002 by and between the COUNTY OF
<br />CABARRUS (the "County"), a political subdivision of the State of North Carolina,
<br />the CITY OF KANNAPOLIS ("Kannapolis"), a municipal corporation of the State of
<br />North Carolina, the CiTY OF CONCORD, a municipal corporation of the State of
<br />North Carolina ("Concord"); and FIELDCREST CANNON, INC. (the "COMPANY"), a
<br />Delaware Corporation.
<br /> WITNESSETH:
<br />
<br /> WHEREAS, County, Kannapolis, Concord, and Company entered into that certain
<br />Incentive Grant Agreement (the "Agreement") dated as of December 10, 1998,
<br />related to the modernization of the Company's manufacturing facilities (the
<br />"Properties" as said term is defined in the Agreement); and
<br />
<br /> WHEREAS, the Agreement provides for certain Grants (as defined in the
<br />Agreement) to Company related to the projects pursuant to certain incentive
<br />programs provided by the County, Kannapolis and Concord (the ~Programs," as
<br />defined and described in the Agreement); and
<br />
<br /> WHEREAS, the Agreement references that the modernization of the facility
<br />will occur on the Properties; and
<br />
<br /> WHEREAS, Exhibit A attached to the Agreement describes the FCI Plans as
<br />defined and described in the Agreement, which exhibit is incorporated herein by
<br />this reference; and
<br />
<br /> WHEREAS, pursuant to the terms of the Agreement, the FCI Plans to modernize
<br />its facility are subject to modification under the terms of the Agreement; and
<br />
<br /> WHEREAS, pursuant to the terms of the Agreement, Company has modified and
<br />supplemented the FCI Plans to include the items of personal property shown on
<br />Exhibit A-2 to this Addendum.
<br />
<br /> NOW, THEREFORE, in cOnsideration of the premises and for other good and
<br />valuable consideration, the receipt and sufficiency of which are hereby
<br />acknowledged, the parties hereto hereby agree as follows:
<br />
<br /> 1. FCI Plans. Exhibit A of the Agreement is hereby supplemented to
<br />include the items of personal property shown on Exhibit A-2 attached hereto and
<br />incorporated herein by reference. ~_
<br />
<br /> 2. Miscellaneous. The notice required by Section 4.2 of the Agreement,
<br />as it relates to the COMPANY, shall be to the Attention of (the Legal
<br />Department).
<br />
<br /> 3. Binding Effect. The Agreement, as supplemented by this Addendum,
<br />shall inure to the benefit of and is binding upon the County, Kannapolis, Concord
<br />and the Company and their respective successors and assigns.
<br />
<br /> IN WITNESS WHEREOF the parties hereto have caused this Addendum to be
<br />executed as of the day and year first above written.
<br />
<br />(To be signed by Officials of Fieldcrest Cannon, Inc., Cabarrus County, City
<br /> of Kannapolis and City of Concord)
<br />
<br />Exhibit A-2
<br />Fieldcrest Cannon, Inc.
<br />City of Kannapolis, City of Concord and Cabarrus County Incentive Grant
<br />Program
<br />
<br />Plant wiring for Oracle
<br />Computer/monitors
<br />DEC Alpha servers
<br />Barco CIM server
<br />Printers
<br />Oracle Enterprise Project
<br />Capital labor - Enterprise Project
<br />Addition to Oracle Enterprise Project
<br />Computer software
<br />Gap fillers Legacy software
<br />Engineering software - Legacy
<br />Maintenance software
<br />Legacy programmers
<br />Software - OSHA environmental
<br />Programming labor
<br />Extension labor - software
<br />
<br /> Proposed
<br /> Capital
<br />Spending
<br />$ 30,713
<br /> 4,443,019
<br /> 316,214
<br /> 24,000
<br /> 64,333
<br /> 12,759,875
<br /> 4,025,000
<br /> 9,481,845
<br /> 4,874,433
<br /> 7,125,000
<br /> 15,661
<br /> 366,219
<br /> 2,062,069
<br /> 124,019
<br /> 1,578,225
<br /> 4,500,000
<br />
<br />
<br />
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