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1 <br /> (i) Each job must meet the minimum wage requirements specified in this <br /> Agreement . Payment of Grant funds shall be made within forty-five (45 ) <br /> days after the date COMPANY submits the latest State Quarterly <br /> Unemployment Compensation Report comprising the Annual Job Status <br /> Report (as defined in Paragraph 7) , and this payment obligation shall survive <br /> the termination of this Agreement. Notwithstanding the foregoing, should <br /> the date for filing the last quarterly unemployment compensation report, as <br /> described above, not coincide with the date that an eligibility determination is <br /> made, COMPANY shall have the right to file a report, in a form substantially <br /> similar to a quarterly unemployment compensation report, and such report <br /> shall constitute the Annual Job Status Report, the filing of which shall begin <br /> the running of the forty-five (45)-day period within which payment shall be <br /> made . . <br /> If COMPANY' s Qualified Target Industry (QTI) Tax Refund from the state <br /> of Florida is extended as requested by COMPANY, County will reduce the <br /> local jobs grant amount paid directly to COMPANY for each eligibility <br /> determination in an amount sufficient to cover COUNTY' s QTI Tax Refund <br /> 20% contribution obligation to the state for COMPANY' s QTI Tax Refund <br /> agreement . COUNTY will submit the 20 % payment obligation to the state <br /> for placement in the Florida Economic Development Trust Fund . <br /> 4 . Relocation Commitment. As a condition precedent to and as consideration for <br /> obtaining Jobs Grant Funds from COUNTY, COMPANY agrees to locate or expand <br /> its business operations to a suitable site in Indian River County as described on <br /> Exhibit "A", which is attached hereto and made a part thereof. <br /> 5 . Job Creation Commitment . COMPANY estimates that it will provide 53 new jobs <br /> within the county as set forth in Exhibit `B ", which is attached hereto and made a <br /> part hereof. The exact number of jobs actually supplied and their salaries, however, <br /> may vary . Local jobs grant funds will be awarded up to a maximum of $297,000 . The <br /> jobs grant award will be based on the following : <br /> At <br /> Category Vf <br /> III, t <br /> Amount Per' Job <br /> 75% to 99 . 99%o of Indian River County $3 ,000 <br /> Average Annual Wage <br /> 100% to 149 . 99% of Indian River County $59000 <br /> Average Annual Wage <br /> 150% of Indian River County Average $7,000 <br /> Annual Wage (or greater) <br /> -5 - <br />