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12 <br /> B. EMPLOYMENT <br /> 1. On or before December 31, 2024, at least 42 persons will be employed in full-time <br /> positions at the Facility("Jobs Minimum"). The number of full-time positions shall be <br /> evidenced by one or more Quarterly Tax and Wage Reports (Form NCUI 101) filed <br /> with the N.C. Employment Security Commission. <br /> 2. During the Term and at the expiration of this Agreement,the Company, and its <br /> Affiliates, shall employ, at the Facility in Orange County, new full time equivalent <br /> employees in accordance with Exhibit A. Employees counted toward the total <br /> numbers reflected in Exhibit A shall include employees of the Company employed and <br /> located at Company's Facility in Orange County,North Carolina provided such <br /> employees are employed in Orange County on a full time basis and are eligible to <br /> participate in Company sponsored health insurance programs. For purposes of this <br /> section"full time equivalent employees" shall be defined as actively employed <br /> individuals and shall not include vacant positions for which the Company is actively or <br /> otherwise recruiting and shall not include positions counted toward the Baseline <br /> Employment. It is understood that vacancies occur and that when such occur the <br /> Company will immediately, or as soon as is reasonably possible thereafter, fill said <br /> vacancies. The average wage of the 42 new full time equivalent employees shall be, as <br /> of the last day of this Agreement, at the annual rate of Forty One Thousand Two <br /> Hundred Thirty Six Dollars ($41,236.00). <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 make reductions in inducement installments <br /> paid to the Company in an amount of Five Hundred dollars ($500.00)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 make pro rata reductions in <br /> inducement installments paid to the Company as set out in Section 3. It is agreed and <br /> understood by the parties hereto that the failure of the Company to meet the level of <br /> performance with respect to minimum level of investment or minimum level of new <br /> employment as specified herein shall not be considered a breach of this Agreement. <br /> Notwithstanding the above reductions to the inducement installments paid to Company based on <br /> failure to meet the minimum levels of new employment in Section 2B in any year, Company <br /> shall be entitled to such recoupment(in the same $500 increments) in the event in following <br /> years that it not only meets the following year minimum levels of new employment but makes <br /> up any prior year's deficits. <br /> Page 4 of 14 <br />