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a . COMPANY will be eligible for total Jobs Grant Funding (hereinafter a <br /> " Grant " ) in an amount of up to $ 126 ,000 if COMPANY locates within Indian <br /> River County . Said Grant shall be payable in 3 one year periods by Phase as <br /> more specifically set forth herein . <br /> COMPANY acknowledges and agrees that the initial Grant under this <br /> Agreement is payable on a re- imbursement basis . There are a total of 3 <br /> separate Phases . The number of jobs estimated to be provided by phase is <br /> listed below. <br /> (i ) For Phase I , 6 new qualifying jobs meeting the wage level commitment in <br /> Section 6 of this Agreement will be provided by 12/31 / 11 . For each of the <br /> three successive annual periods that those jobs are maintained at the required <br /> wage level , COMPANY shall receive 1 /3 of the Grant amount for those 6 <br /> jobs . <br /> (ii) For Phase II , 10 new qualifying j obs meeting the wage level commitment <br /> in Section 6 of this agreement will be provided by 9/30/ 12 . For each of the <br /> three successive annual periods that those jobs are maintained at the required <br /> wage level , COMPANY shall receive 1 /3 of the Grant amount for those 10 <br /> jobs . <br /> (iii) For Phase III, 12 new qualifying jobs meeting the wage level <br /> commitment in Section 6 of this agreement will be provided by 6/30/ 13 . For <br /> each of the three successive annual periods that those jobs are maintained at <br /> the required wage level , COMPANY shall receive 1 /3 of the Grant amount <br /> for those 12 jobs . <br /> ( iv) It is understood that the quantity and types of jobs proposed by phase , <br /> their annual wages , and dates of hire are estimates . Because of this , the <br /> quantity and types of jobs provided in each phase may shift between phases, <br /> and phase commencement dates may be extended . Proposed jobs will remain <br /> eligible for local jobs grant incentives provided : <br /> a. The minimum number of qualifying jobs that must be provided in <br /> Phase I is 5 . <br /> b . The maximum number of jobs eligible for local jobs grant funds <br /> between Phases I, II, and III is 28 . <br /> c . The maximum extension for a phase commencement date shall be <br /> one year. Such commencement date may be approved <br /> administratively by County staff. If any of the total 28 eligible <br /> jobs proposed for Phases 1 , II , and III are created after the Phase <br /> III commencement date or, if applicable , after an administratively <br /> approved extension to the Phase III commencement date , those <br /> - 3 - <br />