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9 <br /> Attachment 1 <br /> STATE OF NORTH CAROLINA <br /> ORANGE COUNTY <br /> PERFORMANCE AGREEMENT BETWEEN ORANGE COUNTY, NORTH CAROLINA, <br /> AND PIEDMONT METALWORKS, LLC. <br /> This Performance Agreement("Agreement")made and entered into this the day of ,2019 by <br /> and between Orange County, a body politic existing under the laws of the State of North Carolina <br /> ("County") and Piedmont Metalworks, LLC., a U.S. operating entity and privately-owned corporation, <br /> with facilities located adjacent to 5816 U.S. 70 West in Orange County,North Carolina("Company"), <br /> for the purpose of incentivizing Company's expansion which will create investment and employment <br /> growth in Orange County. Company's Facility shall move their existing sheet metal manufacturing <br /> operation. <br /> Company represents it is duly authorized to conduct business in North Carolina. It is understood that <br /> the levels of performance required by this Agreement are to be met by Company as a whole at its <br /> Facility in Orange County. Accordingly,the term"Company" as used in this Agreement refers to the <br /> 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, Pursuant to G.S. Section 153A-449, 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 /> B. "Baseline Employment." Number of employees,_12 , employed by Company as of the <br /> date of execution of this Agreement. <br />