2011-250 ED - AKG North America, Inc. - One NC Grant - Performance Agreement

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Disbursement of Grant 4 installments equal to 25% of grant each, on demonstration of creation of: • 25% of Target New Jobs; • 50% of Target New Jobs • 75% of Target New Jobs • Required New Jobs and Required Investment and evidence of making Statutorily Qualifying Expenditures, Environmental Permits, and Retained Jobs (if required, as set forth above). Obligation to Repay Grant • Failure to provide required health insurance • Failure to achieve Wage Standard • Ceasing project operations • Failure to maintain jobs for the requisite time beyond Closeout(1-2 years depending on Closeout timing) Adjustments to Grant At Closeout • If Closeout occurs on the date three years from the date of the Grant award and the Company has failed to: o Create and retain Required New Jobs, or o Make statutorily qualifying expenses equal to 100% of the grant, or o Make the Required Investment the amount of the Grant will be reduced on a pro rata basis to reflect the percentage by which the Company failed to meet its performance goals. To the extent the amount of the reduced Grant is less than the amount that has been previously disbursed,the Company must reimburse DOC for the difference. Obligations Beyond Closeout • If Closeout occurs more than one year prior to the Grant End Date, the Company must maintain at least 90% of the New Jobs in place at Closeout for two years after the date of Closeout. • If Closeout occurs less than one year prior to the Grant End Date, the Company must maintain at least 90% of the New Jobs in place at Closeout until the one anniversary of the Grant End Date. • If the Company fails to maintain at least 90% of the number of New Jobs in place at Closeout for the required time period, the Company must reimburse DOC the entire amount of the Grant. Statute and Guidelines Governing Grant • N.C. Gen. Stat. 143B-437.70 et seq. • Guidelines And Procedures for Commitment of Funds from the One North Carolina Fund.