Cryovac, Inc.

Agreement 0004072, filed with the Texas Comptroller by Wichita County, Texas.

$19,517,413committed capital investment

10–100%of increased value of the Premises and the appraised value of tangible personal property abated

December 31, 2020performance deadline

The obligation

What the contract requires.

“Within 180 days after substantial completion of the project described in Section 2.1 but no later than December 31, 2020, Owner shall provide the County with a final report”Executed agreement, p. 4

“The substantial completion of this project may (but is not required to) create up to 16 new jobs at the Premises.”Executed agreement, p. 2

“The total cost of this project is expected to be approximately $19,517,413.”Executed agreement, p. 2

The remedy

The agreement terminates.

“As liquidated damages in the event of default and termination of this Agreement, all taxes which otherwise would have been paid to the County without the benefit of abatement pursuant to this Agreement (together with interest charged at the statutory rate for delinquent taxes as determined by Section 33.01 of the Property Tax Code of the State of Texas, but without the addition of a penalty) will be reinstated and wi”Executed agreement, p. 5

This clause ends the agreement. It states no repayment of money already received.

Where a deadline above has passed, no public record exists of whether it was met — not in the Comptroller’s filings, nor in the local government’s own disclosures. That is not evidence of non-compliance. Texas requires nobody to record it.

Abatement schedule · increased value of the Premises and the appraised value of tangible personal property · p. 3

What was abated, and for how long.

100%Year 1

90%Year 2

80%Year 3

70%Year 4

60%Year 5

50%Year 6

40%Year 7

30%Year 8

20%Year 9

10%Year 10

A local abatement waives only that taxing unit’s share of the property tax bill. School districts, counties, cities and hospital districts each sign separately.

Every field, as the contract states it

The record.

Field	Value & quoted source	Page
Granting body	Wichita County, TexasWICHITA COUNTY, TEXAS	1
Contracting entity	Cryovac, Inc.CRYOVAC, INC.	1
Parent / guarantor	Sealed Air CorporationSealed Air Corporation 2415 Cascade Point Blvd. Charlotte, NC 28208	6
Instrument	Tax Abatement AgreementTAX ABATEMENT AGREEMENT	1
Governing chapter	Chapter 312, Tax Code (property tax abatement)Recitals WHEREAS, on May 7, 2018 the Commissioners Court of the County (the "Commissioners Court") adopted an order (the "Enabling Resolution") establishing certain guidelines and criteria for the designation of reinvestment zones and the entering into of tax abatement agreements pursuant to the Texas Property Redevelopment and Tax Abatement Act, as contained in Chapter 312 of the Local Taxation T	—
Capital investment	$19,517,413The total cost of this project is expected to be approximately $19,517,413.	2
Grant or incentive	Not stated in the agreement	—
Jobs committed	16 recital language, not a covenantThe substantial completion of this project may (but is not required to) create up to 16 new jobs at the Premises.	2
Wage requirement	Not stated in the agreement	—
Square footage	Not stated in the agreement	—
Acreage	20.147 acres, 34.969 acrescontaining 20,147 acres, more or less. containing 34,969 acres, more or less.	10
Performance deadline	December 31, 2020Within 180 days after substantial completion of the project described in Section 2.1 but no later than December 31, 2020, Owner shall provide the County with a final report	4
Expiration	December 31, 2029The period of tax abatement for the improvements pursuant to this Agreement shall commence on January 1, 2020 and shall continue for a period of 10 years thereafter.	3
Effective date	June 18, 2018This Agreement was authorized by an order of the Commissioners Court adopted at its meeting on June 18, 2018	6
Signatory	Frecd SchpockeName: fl—_recd Schpocke	9
Chain status	Terminal document — no later agreement in the registry names this one as its predecessor	—

How to check this page

Every line above is in the contract.

Agreement 0004072 is filed with the Texas Comptroller. Pull the PDF, go to the page number beside any row, and read the sentence. If a figure here does not match the document, tell me and it is corrected the same day.

Where the contract says nothing, the field is left empty rather than filled with a guess.

One of 1,645

Which of these are on your book?

This is a single agreement. I have read 1,645 of the 4,428 Texas has filed, resolved which have been superseded, and recorded what each commits a company to.

Send me an entity and a county and I will tell you what is on it — quoted, page-cited, checked. Free for the first one.

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