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30 <br /> A. "90% Target."The cumulative number(360) of net new positions filled with full time <br /> equivalent employees by year as provided for on Exhibit A. <br /> B. "Affiliate." A company that the Company controls, controls the Company, or is under <br /> common control with the Company. <br /> C. "Baseline Employment." Number of employees, 17, employed by Company as of the <br /> December 31, 2021. <br /> D. "Baseline Valuation." Current taxable valuation of the Subject Property, excluding 419 <br /> West Franklin Street, or the other real property in the County as may used by the <br /> Company as applicable at the time of certification by the Company and Personal <br /> Property as assessed by the Orange County Tax Administrator as of January 1, 2020 <br /> prior to the investment contemplated in this Agreement. Upon revaluation by the <br /> County,the Baseline Valuation shall be adjusted as determined by the Orange County <br /> Tax Administrator. <br /> E. "Company." Well Dot, Inc. and includes its Affiliates, successors, and assigns. <br /> F. "Eligible Property." Includes (a)the Subject Property(as defined in Exhibit D,Legal <br /> Description of Real Property), other Company owned real property in Orange County, <br /> North Carolina and all improvements the Company or an Affiliate of the Company <br /> constructs or installs, or causes to be constructed or installed, at the Subject Property or <br /> such other real property, including all buildings,building systems, and building <br /> improvements, and(b) all personal property(as defined in Exhibit C, Personal Property) <br /> the Company or an Affiliate of the Company purchases or leases and installs, at or <br /> relocates to,the Facility or such other real property. Does not include property used or <br /> valued for the Baseline Valuation. <br /> G. "Expansion Inducement Grant."An economic development grant equivalent to seventy- <br /> five percent(75%) of the value of the ad valorem property taxes paid on the Eligible <br /> Property for which Company shall become eligible as provided for in Section 3.C. of <br /> this Agreement. <br /> H. "Grant."An economic incentive development grant to the County from the State of <br /> North Carolina pursuant to Section 2 of this Agreement. <br /> I. "Inducement Grant." An economic development grant provided to Company for the <br /> purpose of securing the Company's location of its facility in Orange County,North <br /> Carolina on the Subject Property. <br /> J. "Job Creation Shortfall Penalty" shall have the meaning provided for in Section 2D of <br /> this Agreement. <br /> K. "Lease." The Lease by and between the Parties for the Subject Property excluding 419 <br /> West Franklin Street. <br /> Page 2 of 17 <br />