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date 10/01 / 15 . For each of the three successive annual periods that those jobs <br /> are maintained at the required wage level , COMPANY shall receive 1 /3 of <br /> the Grant amount for those 10 jobs . <br /> (iii) For Phase III, 5 new qualifying job meeting the wage level commitment <br /> in Section 5 of this agreement shall be provided by the phase commencement <br /> date 10/01 / 16 . For each of the three successive annual periods that that job is <br /> maintained at the required wage level , COMPANY shall receive 1 /3 of the <br /> Grant amount for that 1 job . <br /> (iv ) It is understood that the quantity and types of jobs proposed by phase in <br /> the above subsections, their annual wages , and dates of hire are estimates . <br /> Because of that, the quantity and types of jobs provided in each phase may <br /> shift between phases, and phase commencement dates may be extended. <br /> Proposed jobs will remain eligible for local jobs grant incentives provided : <br /> a. The minimum number of qualifying jobs provided in Phase I is 5 . <br /> b . The maximum number of jobs eligible for local jobs grant funds <br /> for Phases 1, 11, and III is 45 . <br /> c . The maximum extension for a phase commencement date shall be <br /> one year. Such commencement date extension may be approved <br /> administratively by the County Community Development <br /> Director or his designee provided the extension date meets the <br /> requirements of Section 3 of this agreement . If any of the 45 <br /> eligible jobs proposed for Phases I, 11 , and III are created after the <br /> Phase III commencement date or, if applicable, after an <br /> administratively approved extension to the Phase III <br /> commencement date, those jobs shall not be eligible for local jobs <br /> grant funds . <br /> In no case shall the total local jobs grant award exceed $ 137,000 . <br /> (v) Failure of COMPANY to maintain claimed jobs for at least 3 years at <br /> required wage levels will result in the reduction of the Grant amount paid to <br /> COMPANY, as set forth herein . If, by the end of any of the annual periods , <br /> COMPANY has not maintained the total number of claimed jobs required or <br /> if COMPANY has provided the total jobs required, but the annual wage for <br /> any of those jobs is less than required for that year, Community <br /> Development Department staff will lower the jobs grant award for the <br /> respective year by the amount allocated in such year for each job for which <br /> the requirements of this agreement are not met. Thus , the total jobs grant <br /> award could be less than $ 137,000 by the end of this Agreement . <br /> If COMPANY changes the products or services it provides in such away that <br /> would make COMPANY no longer qualify as a "Target Industry " or if <br /> -4- <br />