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V <br /> �1 ► -711 <br /> INDIAN RIVER COUNTY JOBS GRANT AGREEMENT <br /> THIS INDIAN RIVER COUNTY JOBS GRANT AGREEMENT ("Agreement") is made <br /> as of the 17 `" day of August, 2010 by and between Indian River County, a political subdivision of the <br /> State of Florida, by and through its Board of Commissioners , hereinafter referred to as COUNTY, <br /> and ALGAGEN LLC a limited liability company authorized to do business in the State of Florida, <br /> hereinafter referred to as COMPANY, whose Federal I . D . Number is 06 - 1659725 . <br /> BACKGROUND RECITALS : <br /> WHEREAS , it is the policy of COUNTY to stimulate economic growth in Indian River <br /> County , by either attracting new businesses to Indian River County or by encouraging the expansion <br /> of existing businesses within Indian River County; and <br /> WHEREAS , the creation of new employment opportunities for residents of Indian River <br /> County and the increased tax revenues resulting from such business expansion or relocation within <br /> Indian River County is beneficial to the local economy ; and <br /> WHEREAS , COUNTY has determined that offering a Jobs Grant Program encourages either <br /> businesses to expand within or new businesses to locate in Indian River County and thereby creates <br /> new employment opportunities for the residents of Indian River County ; and <br /> WHEREAS , Indian River County, through its Board of County Commissioners, has created <br /> a local Jobs Grant Program ; and <br /> WHEREAS , COMPANY, in accordance with the county ' s Jobs Grant Program criteria, will <br /> expand its existing business in Indian River County to create new employment opportunities that pay <br /> at least 75 % of Indian River County ' s average annual wage level ; and <br /> WHEREAS , COMPANY has been determined to be eligible to receive a Jobs Grant ; and <br /> WHEREAS , COMPANY acknowledges that this Agreement shall be based upon <br /> compliance with County jobs grant program requirements ; and , <br /> WHEREAS , COUNTY finds and declares that it is in the public interest to award a Jobs <br /> Grant to COMPANY pursuant to the terms of this Agreement . <br /> NOW , THEREFORE , in consideration of the premises and mutual covenants hereinafter <br /> contained , the parties do agree as follows : <br /> 1 . Definitions . As used in this Agreement, the following terms shall mean : <br /> a. " Annual Wage " - includes salary, bonuses , and commissions . <br /> - 1 - <br />