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�Ze / 4 - Go3 <br /> � !�-� ��z3/ e q • 1 fear 1 <br /> 1 <br /> STATE OF NORTH CAROLINA <br /> ORANGE COUNTY <br /> PERFORMANCE AGREEMENT BETWEEN ORANGE COUNTY, NORTH CAROLINA, <br /> AND ABB INC . <br /> This Performance Agreement ("Agreement") made and entered into this the day of , 202_ by <br /> and between Orange County, a body politic existing under the laws of the State of North Carolina <br /> (" County") and ABB Inc . , a U . S . operating entity of ABB Ltd, a multinational corporation, with <br /> facilities to be located in Mebane , Orange County, North Carolina (" Company") , for the purpose of <br /> incentivizing Company ' s investment in Orange County . <br /> Company ' s ultimate parent is a multinational corporation situated and headquartered in Zurich , <br /> Switzerland . Company ' s North American headquarters in Cary, NC . Company ' s Facility shall expand <br /> their existing electrical components manufacturing . Company represents it is duly authorized to conduct <br /> business in North Carolina . It is understood that the levels of performance required by this Agreement <br /> are to be met by Company as a whole at its Facility in Orange County . Accordingly, the term <br /> " Company" as used in this Agreement refers to the entire group at such Facility . <br /> WITNESSETH <br /> THAT WHEREAS , the County has offered to the Company an inducement package as hereinafter set <br /> forth ; and <br /> WHEREAS , the State of North Carolina and the City of Mebane , North Carolina have offered separate <br /> inducement packages to the Company; and <br /> WHEREAS , Pursuant to G . S . Section 153A449 , 158 - 7 . 1 , and 158 - 7 . 2 , as construed by the North <br /> Carolina Supreme Court in its opinion in Maready v . The City of Winston- Salem, et al , 342 N . C . 708 <br /> ( 1996) , and other judicial authority, the County may enter into an agreement with the Company in <br /> connection therewith ; and <br /> WHEREAS , the County finds that awarding the Company a grant based on its Total Taxable Investment <br /> will increase the taxable property base for the County and help create new jobs in the County at the <br /> agreed average annual salary, all of which will result in an added and valued benefit to the taxpayers of <br /> the County ; and <br /> WHEREAS , but for the offer of an inducement package the Company would not be locating its <br /> manufacturing facility within Orange County , <br /> NOW, THEREFORE, the parties hereto in consideration of these mutual covenants and agreements <br /> passing from each to the other do hereby agree as follows : <br /> 1 . DEFINITIONS . As used in this Agreement the terms below will have the following meanings : <br /> A . "Affiliate . " A company that the Company controls , controls the Company, or is under <br /> common control with the Company . <br /> Page 1 of 20 <br />