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13 <br /> 2. During the first year of operation after commencement of this Agreement, Company and <br /> County agree Company shall hire 30 full time employees at its Mebane Facility. During <br /> the second year of operation the Company shall hire an additional 75 full time <br /> employees at its Mebane Facility for a total of 105 full time employees at its Mebane <br /> Facility. During the third year of operation the Company shall hire at a minimum an <br /> additional 75 full time employees for a total of 180 full time employees at its Mebane <br /> Facility. During the fourth year of operation the Company shall hire an additional 50 <br /> full time employees for a total of 230 full time employees at its Mebane Facility. <br /> During the fifth year an additional 20 full time employees shall be hired for a final and <br /> ongoing 250 full time employees at its Mebane Facility. At the expiration of this <br /> Agreement,the Company shall employ, at its Mebane facility in Orange County, at <br /> least the equivalent of 250 full time employees in accordance with Exhibit A. <br /> 3. Employees counted toward this total shall include only new employees of the Company <br /> employed and located at Company's Mebane Facility in Orange County,provided such <br /> employees are employed in Orange County on a full time basis. Employees of the <br /> Company will be eligible to participate in Company sponsored health insurance and <br /> retirement programs. For purposes of this section"250 full time equivalent employees" <br /> shall be defined as 250 actively employed individuals and shall not include vacant <br /> positions for which the Company is actively or otherwise recruiting. It is understood <br /> that vacancies occur and that when such occur the Company will immediately, or as <br /> soon as is reasonably possible thereafter, fill said vacancies. The average wage of the <br /> 250 new full time equivalent employees shall be, as of the last day of this Agreement, at <br /> the annual rate of$35,468. <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 guarantees that <br /> its minimum level of performance pursuant to this Agreement shall be as set out in this Section <br /> 2. Company agrees that failure to meet the minimum level of new employment as reflected in <br /> Section 2.13. shall entitle the County to reductions in inducement installments paid to the <br /> Company in an amount of four hundred fifty dollars($450.00)per employee not hired as <br /> reflected in Section 2.13. and Exhibit A. Company further agrees that failure to meet the <br /> minimum level of direct investment as reflected in Section 2.A. and Exhibit A shall entitle <br /> County to pro rata reductions in inducement installments paid to the Company as set out in <br /> Section 3. <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 /> Page 4 of 12 <br />