OTHER-2022-027-PERFORMANCE AGREEMENT BETWEEN ORANGE COUNTY, NORTH CAROLINA, AND WELL DOT, INC.

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i i i required by Section 2B of this Agreement shall entitle the County to increase the purchase price of the option to purchase as such option to purchase is provided for in the Lease . Such increase in the purchase price of the option to purchase shall be equal to five hundred dollars ($ 500) per job in each ' ob creation year in which the 90 % Target is not achieved (the " Job Creation Shortfall Penalty") . The Job Creation Shortfall Penalty shall be applied to the purchase price of the option to purchase on a cumulative basis following the year in which the 90 % Target is not achieved, as applicable , in accordance with Exhibit A to this Agreement, which is attached hereto and incorporated herein by reference . Notwithstanding the foregoing provisions of this Section 2 (D) , f if the Company believes that it will not meet employment goals that are to be met pursuant to this Agreement by June 1 , 2024 and the Company has not yet purchased the property, then the the hiring schedule outlined in Exhibit A, and all other applicable dates and deadlines hereunder may be delayed up to one ( 1 ) year, at the option of the Company . Written notification of the exercise of this option to delay onset must be received by the County no later than June 15 , 2024 . i E . STATUTORY COMPLIANCE : The Company understands that the County' s participation is contingent upon authority found in North Carolina General Statute 158 - 7 . 1 and other relevant North Carolina General Statutes and that should such statutory authority be withdrawn by the State of North Carolina the County may terminate this Agreement without penalty and without c further compliance with this Agreement . 1 3 . INDUCEMENT GRANT A . COUNTY INDUCEMENT GRANT : Subject to the limitations set out herein the County, upon execution of this Agreement and the Lease and subsequent to the Lease Inspection Period, shall provide to the Company an Inducement Grant to offset Facility development, upfit, remodeling, expansion, and acquisition costs in the amount of Two Million Dollars I' ($ 2 , 000 , 000 . 00) payable in not more than four (4) installments equaling the actual eligible expenditures then incurred by the Company to the date of such expenditure over a period of not more than two (2) years from the first installment . Installments shall be paid within thirty (30) days of County ' s receipt of Company ' s request for payment and documentation . Such t documentation shall demonstrate invoices , purchase orders, and/or receipts describing the G anticipated expenditure of funds for upfit, remodeling, and construction on and to Leased Premises have been submitted . The Inducement Grant SHALL NOT EXCEED Two Million Dollars ($2 , 000 , 000 . 00) . This is the maximum allowable Inducement Grant amount to be paid in installments to the Company . Should the Company exercise its right to terminate the Lease during the Lease Inspection Period or for any reason, except purchase of the Subject Property, during the Term, the Company shall not be eligible for, and the County shall not be obligated to pay, the Inducement Grant and the County shall be released from all further responsibility except as described in Section 3 . C . below . B . PAYMENT OF INDUCEMENT GRANT : Participation in this Agreement shall not exclude the Company from consideration for additional inducements from the County either during or upon completion of this Agreement . C . ADDITIONAL COUNTY COMMITMENT : The Company shall be eligible for an annual Expansion Inducement Grant if it either (i) purchases the Subject Property prior to September 30 , 2026 or (ii) terminates the Lease during the Inspection Period as described in Section 23 of Page 5 of 17