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creation commitment. Before receiving any funding, the company must provide to the County a letter of credit or surety for business performance and minimum length of stay in the county ( 5 years) . 6 . Salary Level Commitment . As a further condition precedent to and as consideration for obtaining jobs grant funds from the COUNTY, the COMPANY agrees to pay each employee whose job is eligible for grants hereunder, an annual average salary of not less than $28,585.00 ($ 13 . 74 per hour) , without taking into account the value of any benefits . The COMPANY shall provide written verification satisfactory to the COUNTY to such average salaries in accordance with the provisions c f paragraph 7 herein below . The COMPANY ' S failure to maintain its salary level cornmitment for any one year will result in the forfeiture of the Grant amount for these Full-Time Equivalent Jobs where the salary commitment was not maintained which it was scheduled to receive for that year; however, such forfeiture will not preclude the Company' s receipt of scheduled Grant amounts for subsequent years in which it is able to maintain its salary level commitment . 7 . Annual Job Status . The COMPANY must provide the COUNTY with quarterly unemployment compensation reports (Form UCT-6) of its business operations within Indian River County on State form UCT-6 as amended which is attached hereto and made a part hereof as Exhibit "C ". The COMPANY shall provide the reports at the same time it provides the State of Florida with the reports, but no less frquently than semi -annually. The cumulative unemployment compensation reports roquired to be filed for the annual period prior to each eligibility determination shal collectively comprise the Annual Job Status Report . 8 , Grant Restriction. The Jobs Grant Funds available under this Agreement gr ent will be provided only for reimbursement of expenses associated with the physical move, relocation and/or expansion of the COMPANY to Indian River County, including but not limited to corporate or company relocation expenses , infrastructure costs, leasehold improvements, company sponsored child day care facilities, rent for company facilities , lease buyouts , training expenses and other expenses approved by the COUNTY . 9 , Default ; Termination. In the event the COMPANY defaults in the performance of its guarantees and commitments as provided for in this Agreement, the COUNTY may, at its option, terminate this Agreement. 10 , Indemnification . For ten and 0/ 100 ($ 10 . 00) dollars consideration, rec lipt of which is hereby acknowledged, the COMPANY shall indemnify and save harmless and defend the COUNTY, its agents , servants , and employees from and against any and all claims, liabilities , losses , and/or cause of action which may ari e from any -4-