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MI 12 � 9695 107 ; ioqlq Jay <br /> Attachment 1 <br /> STATE OF NORTH CAROLINA <br /> ORANGE COUNTY <br /> PERFORMANCE AGREEMENT BETWEEN ORANGE COUNTY, NORTH CAROLINA, <br /> AND CITEL AMERICA, INC . <br /> This Performance Agreement ("Agreement") made and entered into this the day of 52025 <br /> (the "Effective Date") by and between Orange County, a body politic existing under the laws of the <br /> State of North Carolina (" County") and CITEL America, Inc . , a subsidiary of CITEL, a multinational <br /> corporation, with facilities to be located in Hillsborough, Orange County, North Carolina (" Company") , <br /> for the purpose of incentivizing Company ' s investment in Orange County . The County and Company <br /> may be referred to as Party or Parties . <br /> Company ' s ultimate parent is a multinational corporation situated and doing business in Paris, France . <br /> The Company intends to establish the USA headquarters, office and electrical products manufacturing <br /> facility in Orange County . Company represents it is duly authorized to conduct business in North <br /> Carolina. It is understood that the levels of performance required by this Agreement are to be met by <br /> Company as a whole at its Facility (as hereinafter defined) in Orange County . Accordingly, the term <br /> " Company" as used in this Agreement refers to the Company and any of its Affiliates conducting <br /> business at the 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 has offered a separate inducement package to the Company ; <br /> and <br /> WHEREAS , Pursuant to G. S . Section 153A449 , 15 & 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 , the Company has agreed to meet and continue meeting the minimum investment and <br /> employment requirements as hereinafter set forth ; 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 />