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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 approved, County will reduce the local jobs grant amount paid <br /> directly to COMPANY for each eligibility determination in an amount <br /> sufficient to cover COLTNTY ' s QTI Tax Refund 20% contribution obligation <br /> to the state for COMPANY ' s QTI Tax Refund agreement . COUNTY will <br /> submit the 20% payment obligation to the state for placement in the Florida <br /> 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 relocate its <br /> business operations to Indian River County as described on Exhibit "A" , which is <br /> attached hereto and made a part thereof. <br /> 5 . Job Creation Commitment . COMPANY estimates that it will provide 52 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 $ 294 ,000 if <br /> Company locates within Indian River County/Vero Beach Enterprise Zone , If <br /> Company locates within Indian River County but outside of the Enterprise Zone , the <br /> maximum grant award will be up to $ 268 , 000 . The jobs grant award will be based on <br /> the following : <br /> Amount Per Job <br /> Category <br /> 75 % to 99 . 99% of Indian River County $ 3 , 000 <br /> Average Annual Wage <br /> 100 % to 149 . 99% of Indian River County $ 5 , 000 <br /> Average Annual Wage <br /> 150 % of Indian River County Average $ 75000 <br /> Annual Wage (or greater) <br /> 6 . Wage Level Commitment . COMPANY estimates that it will pay 48 employees <br /> whose jobs are eligible for a Grant hereunder an annual wage of not less than <br /> $ 33 , 947 . 00 ; will pay 4 employees an annual wage of not less than $ 50 , 920 . 50 . The <br /> annual wage of the positions shall be determined without taking into account the <br /> value of any benefits . COMPANY shall , in accordance with the provisions of <br /> paragraph 7 herein below, provide written verification of such wages satisfactory to <br /> - 5 - <br />