AGREEMENT FOR FINANCIAL ASSISTANCE
This Agreement is effective the 1st day of March 2005, by and between the Development Corporation of Abilene, Inc.
(“DCOA”), a Texas corporation formed pursuant to Tex. Rev. CIV. Stat. Ann. Art. 5190.6 , and Transcend Services, Inc.
(“TRANSCEND”), a Delaware corporation authorized to do business in Texas, with headquarters located at 945 East Paces
Ferry Road, Suite 1475 Atlanta, GA 30326-6629. For purposes of this Agreement, TRANSCEND shall include its affiliates,
subsidiaries, and any related company.
STATE OF TEXAS
COUNTY OF TAYLOR §
That for and in consideration of the covenants, promises, and agreements set forth herein, it is mutually agreed as follows:
DCOA is authorized by the Development Corporation Act of 1979 to provide financial assistance to corporations in order
to facilitate the expansion and/or retention of primary employment or to attract major investment that would contribute to
the economic development of the City of Abilene. DCOA shall act through its agent, the Chief Executive Officer, or his/her
duly authorized representative, unless otherwise stated in this Agreement.
TRANSCEND operates a facility in Atlanta, Georgia, transcribing medical information for doctors and hospitals across the
United States. TRANSCEND intends to expand their operations into Abilene, Texas, creating a medical transcription
training center and regional office in leased office space with many of its employees working from home (the “Facility”).
DCOA agreed to provide job creation/retention incentive payments of up to $2,000,000 for up to 208 new jobs created
within five years with incentives earned up to eight years in the total amount of $2,000,000; $1,000,000 as an earnable loan
to offset start-up costs, first year operating losses and to support the creation on 104 new jobs and $1,000,000 as an
earnable loan to be paid upon hiring of the 105 th employee by TRANSCE