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9 <br /> arma ell' <br /> Pik <br /> a <br /> *A <br /> r :y <br /> 2 <br /> 3 The proposed incentive will be performance-based with respect to the County's annual verification <br /> 4 of Morinaga' s targeted increases in (1) employment, wages & benefits, and (2) new taxable real <br /> 5 & personal property value over the next five years, as the Company expands. Incentives would <br /> 6 only be paid following confirmation of the Company's required annual growth measures. <br /> 7 <br /> 8 Basis to Calculate the Value of Orange County's Performance-Based Incentives <br /> 9 1) INVESTMENT — Morinaga will increase property valuation by at least $32,806,000 in real <br /> 10 property and at least $94,271,000 in personal property, to total $127,077,000 over five (5) years <br /> 11 as detailed in the table below. If these real and personal property valuation targets are not <br /> 12 achieved, the proposed annual incentive payment will be reduced proportionally. <br /> 13 <br /> Real iifii� • <br /> $4,877,000 $25,778,000 $2,134,000 $17,000 $0 $32,806,000 <br /> PropertyProperty <br /> Personal <br /> $23,856,000 $45,919,000 $20,671,000 $675,000 $3,150,000 $94,271,000 <br /> WE <br /> $28,733,000 $71,697,000 $22,805,000 $692,000 $3,150,000 $127,077,000 <br /> 14 <br /> 15 2) EMPLOYMENT— Morinaga will add net new employment consistent with the job growth chart <br /> 16 below. If annual job targets are not achieved, the annual incentive payment will be reduced by <br /> 17 $500 per full-time equivalent employee not hired. By the year 2030, the Company will create 204 <br /> 18 new positions with an average salary of$48,912 per year (or approximately $23.52 per hour). <br /> 19 <br /> 20 <br /> 21 <br /> 2029 2030 <br />