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fiscal return to the County.Any such extension or extensions will extend the dates for <br /> payment of Inducement Grant funds. <br /> B. EMPLOYM—ENIT <br /> 1. On or bofbiv;December 31,2024,at least 403 persons will be employed in,`till-time <br /> positions at the Facility("Jobs Minimum"). 'rhe number of full-time positions shall be <br /> evidenced by one or more Quanerly Tax and Wage Reports(Form NC-UJ 101)filed <br /> with the N.C.Employment Security Conu-nission. <br /> 2. During the Term and at the expiration of Us Agreement,the Company,and its <br /> Affiliates,shall employ,at the Facility in Orange,County,new fulli time equivalent <br /> employees in accordance with Exhibit A. Employees coun!Qd toward the total <br /> numbers reflected in Exhibit A shall include only new employees of the Company <br /> employed and located at Company's Facility in Orange County,North Carolina <br /> provided such employees are employed Lq Orange County on a full time basis and are <br /> eligible to participate in Company sponsored health insurance programs. For purposes <br /> of this section"full time equivalent employees"shall be defined as actively employed <br /> individuals and shaft not include vacant positions for which the Company is actively or <br /> otherwise j=raiting and shall not include positions counted toward the Baseline <br /> Timployment. 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 403 new full time equivalent employees shall be, <br /> as of the last day of this Agreement,at the annual rate of Seventy Thousand.Seven <br /> Hundred Eighty-Nine dollars($70,789.00). <br /> Q.DEVELOPNff2-nGRANT PARTICIPATION- Where applicable,the Company agrees to <br /> partner,through the corarn-itment to create new jobs,with Orange County and other applicable <br /> agencies to apply for development grants that will improve anchor add water,sewer,road or <br /> other necessary infrasUucture 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, GUARANTEM MINMUM LEVEL OF PERFORMANCE: The Company agyp�,&that its <br /> minirvaumn level of performance pursuant to this Agreement shall be as set out in this SozAion 2. <br /> Furthermore, Company agrees that failure to meet the min mum level of new employin ent as <br /> reflected in Section 2B shall entitle the County to make reductions in inchicement 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 makepro rata reductions in <br /> inducement instaHments 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 tb---',,e.vel.of <br /> performance with respect to minimum level of investment or minimum leve.,of new <br /> emploWient as specified herein shall not be considered a breach of this Agreement. <br /> Nothwithatanding the above reductions to the inducement installments paid to Company based <br /> on faflu--e to meet the minimum levels of new employment in Section 2B in any year, Company <br /> shall.bo entitled to such recoupment(in the same$500 increments)ir.Lhe event in following <br /> -years that it not only meats the following year mirdnium levels of new mn- ployment.but makes <br /> up any prior year's defi�its, <br /> Page 4 of 20 <br />