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dd11- (�d3 <br /> q• r�e�,� 1 <br /> STATE OF NORTH CAROLINA <br /> ORANGE COUNTY <br /> PERFORA ANCE AGREEMENT BETWEEN ORANGE COUNTY,NORTH CAROLINA, <br /> AND ABR INC. <br /> This Performance Agreement("Agreement")made and entered into this the i day of ,202_by <br /> and between Orange County,a body politic existing under the laws of the State of North Carolina <br /> ("County") and ABB Inc.,a U.S. operating entity of ABB Ltd, a multinational corporation,with <br /> facilities to be located in Mebane, Orange County,North Carolina("Company"), for the purpose of <br /> incentivizing Company's investment in Orange County. <br /> Company's ultimate parent is a multinational corporation situated and headquartered in Zurich, <br /> Switzerland. Company's North American headquarters in Cary,NC. Company's Facility shall expand <br /> their existing electrical components manufacturing. Company represents it is duly authorized to conduct <br /> business in North Carolina. It is understood that the levels of performance required by this Agreement <br /> are to be met by Company as a whole at its Facility in Orange County.Accordingly,the term <br /> "Company" as used in this Agreement refers to the 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,the State of North Carolina and the City of Mebane, North Carolina have offered separate <br /> inducement packages to the Company; 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 /> Page 1 of 20 <br />