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employees at its Mebane Facility. During the third year of operation the Company <br /> shall hire at a minimum an additional 5 full time employees at its Mebane Facility. At <br /> the expiration of this Agreement,the Company, and its subsidiaries, shall employ, at its <br /> Mebane Facility in Orange County, at least the equivalent of 90 full time employees in <br /> accordance with"Exhibit A". Ninety (90)new full time equivalent employees shall be <br /> hired at the Mebane Facility pursuant to the terms of this Agreement. Employees <br /> counted toward this total shall include only new employees of the Company employed <br /> and located at Company's Mebane Facility in Orange County, provided such employees <br /> are employed in Orange County on a full time basis. Employees of the Company will <br /> be eligible to participate in Company sponsored health insurance programs. For <br /> purposes of this section"90 full time equivalent employees" shall be defined as 90 <br /> actively employed individuals and shall not include vacant positions for which the <br /> Company is actively or otherwise recruiting. It is understood that vacancies occur and <br /> that when such occur the Company will immediately, or as soon as is reasonably <br /> possible thereafter, fill said vacancies. The mean wage of the 90 new full time <br /> equivalent employees shall be, as of the last day of this Agreement,at the annual rate of <br /> thirty-seven thousand nine hundred sixty-nine dollars ($37,969.00). <br /> C. DEVELOPMENT GRANT PARTICIPATION: Where applicable,the Company agrees to <br /> partner,through the commitment to create new jobs, with Orange County and other applicable <br /> agencies to apply for development grants that will improve and/or add water, sewer, road or <br /> other necessary infrastructure in order to facilitate the successful completion of this project. The <br /> Company agrees to meet with program representatives, and to participate in the grant request <br /> process as necessary to secure the required funding. <br /> D. GUARANTEED MINIMUM LEVEL OF PERFORMANCE: The Company agrees that its <br /> minimum level of performance pursuant to this Agreement shall be as set out in this Section 2. <br /> Furthermore, Company agrees that failure to meet the minimum level of new employment as <br /> reflected in Section 2B shall entitle the County to reductions in inducement installments paid to <br /> the Company in an amount of four hundred fifty dollars ($450.00)per employee not hired as <br /> reflected in Exhibit A. Company further agrees that failure to meet the minimum level of direct <br /> investment as reflected in Section 2A shall entitle County to pro rata reductions in inducement <br /> installments paid to the Company as set out in Section 3. It is agreed and understood by the <br /> parties hereto that the failure of the Company to meet the level of performance with respect <br /> to minimum level of investment or minimum level of new employment as specified herein <br /> shall not be considered a breach of this Agreement. <br /> E. STATUTORY COMPLIANCE: The Company understands that the County's participation is <br /> contingent upon authority found in North Carolina General Statute 158-7.1 and other relevant <br /> North Carolina General Statutes and that should such statutory authority be withdrawn by the <br /> North Carolina General Assembly County may terminate this Agreement without penalty to <br /> County and without further compliance with this Agreement. <br /> 3. INDUCEMENT PACKAGE <br /> A. COUNTY INDUCEMENT GRANT: Subject to Section 2A3 the County, upon execution of <br /> this Agreement, shall provide to the Company an inducement to offset Facility development, <br /> expansion, and acquisition costs in an amount estimated at One Million Ninety-three Thousand <br /> 2054461.2 <br /> 21896-200 Page 4 of 12 <br />