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3 . Grant Eligibility ; Payment Schedule . <br /> a . COMPANY will be eligible for total Jobs Grant Funding (hereinafter a <br /> " Grant" ) in an amount of up to $ 294 ,800 if COMPANY relocates within <br /> Indian River County/Vero Beach Enterprise Zone . If the Company locates <br /> within Indian River County but outside of the Enterprise Zone the maximum <br /> grant amount will be up to $ 268 , 000 . Said Grant shall be payable in 3 one <br /> year periods by Phase as 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 1, 10 new qualifying jobs meeting the wage level commitment in <br /> Section 6 of this Agreement will be provided by 12/31 / 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 /> ( ii) For Phase II , 15 new qualifying jobs meeting the wage level commitment <br /> in Section 6 of this agreement will be provided by 12/31 / 13 . 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 15 <br /> jobs . <br /> (iii) For Phase III , 27 new qualifying jobs meeting the wage level <br /> commitment in Section 6 of this agreement will be provided by 12/31 / 14 . <br /> For each of the three successive annual periods that those jobs are maintained <br /> at the required wage level , COMPANY shall receive 1 /3 of the Grant amount <br /> for those 27 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 1, II, and III is 52 . <br /> c . The maximum extension for a phase commencement date shall be <br /> one year . Such commencement date may be approved <br /> - 3 - <br />