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to a quarterly unemployment compensation report, and in such event such report shall constitute the Annual Job Status Report, the filing of which shall begin the running of the forty-five (45 )-day period within which payment shall be made . 4 , Relocation Commitment . As a condition precedent to and as consideration for obtaining Jobs Grant Funds from the COUNTY, the COMPANY agrees to locate or expand its business operations to a suitable site in Indian River County as described on Exhibit " A" , which is attached hereto and made a part thereof, until at least 12/31 / 13 . 5 . Job Creation Commitment . As a further condition precedent to and as consideration for obtaining Jobs Grant Funds from the COUNTY , the COMPANY agrees to create a minimum of 25 Full -Time Equivalent Jobs (of which 25 jobs qualify for the County ' s local job grant program) in Indian River County as more specifically set forth in Exhibit " B " , which is attached hereto and made a part hereof. 6 . Wage 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 a Grant hereunder an annual wage of not less than $26 , 282 . 25 per position for each of 2 positions ; not less than $ 35 , 043 per position for each of 18 positions ; and not less than $ 52 , 564 . 5 per position for each of 5 positions ; and , in each case , the annual wage shall be determined without taking into account the value of any benefits . The COMPANY shall , in accordance with the provisions of paragraph 7 herein below, provide written verification of such wages satisfactory to the COUNTY . The COMPANY ' S failure to maintain its wage level commitment for any one year will result in the reduction of the Grant amount for that year. 7 , Annual Job Status . The COMPANY must provide the COUNTY with State Quarterly Unemployment Compensation Reports (Form UCT- 6 ) of its business operations within Indian River County on State form UCT- 6 as amended, a sample of which is attached hereto and made a part hereof as Exhibit " C " . The cumulative Quarterly State Unemployment Compensation Reports required to be filed for the annual period prior to each eligibility determination shall collectively comprise the Annual Job Status Report . For Phase I , the four quarterly reports are calendar quarters 1 , 2 , 3 , and 4 ( starting with calendar quarter 1 in 2010) . For Phase II, the four quarterly reports are calendar quarters 2 , 3 , 4 , and 1 (starting with calendar quarter 2 in 2010) . For Phase III , the four quarterly reports are calendar quarters 1 , 2 , 3 , and 4 (starting with calendar quarter 1 in 2011 ) . -4-