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remain the same as specified in the original agreement executed on May 16, 2008 except as modified herein. In consideration of the mutual promises and agreements contained herein, the Parties agree to amend the Indian River Agreement as follows . 1 . General Purpose of Amendment : Under the original Indian River Agreement, Closing Fund Awardee was eligible to receive three Closing Fund Awards, each in the amount of $4,000,000, for a total of $ 12 ,000 ,000 . Closing Fund Awardee received the first payment in 2008 ; however, Closing Fund Awardee did not apply for or receive the second or third payments. The general purpose of this amendment is to establish that: (a) County shall no longer have any obligation to pay, and Closing Fund Awardee shall no longer have any entitlement to receive, the second and third Closing Fund Awards (totaling $ 8 ,000,000), which are hereby released from any further commitment or obligation under this Agreement, (b) In recognition of the fact that Closing Fund Awardee (i) has continued to operate and provide important jobs in Indian River County, despite a very difficult local, national and international economy, and (ii) has met the capital expenditure, product development and average wage requirements, as set forth in the original Indian River Agreement, only $2,000,000 of the first Closing Fund Award of $4,000,000 shall remain subject to sanction. The $2 ,000,000 of the first Closing Fund Award which no longer remains subject to sanction shall be retained by Closing Fund Awardee without further commitment or obligation, with respect to such amount, under this Agreement,, (c) The $2,000,000 of the first Closing Fund Award which remains subject to 2 I "