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average wage, and the percentage of new employees that are current residents of Indian River County, as stipulated in this contract. The initial payment of the Jobs Grant Funds shall be made on the first anniversary of the Effective Date of this agreement. Subsequent eligibility determinations shall be made at each subsequent anniversary of the Effective Date. Payment of Jobs Grant Funds shall be made within forty-five (45) days after the date the COMPANY submits the last annual unemployment compensation report comprising the Annual Job Status Report (as defined in Paragraph 7), and this payment obligation shall survive the termination of this Agreement. Notwithstanding the foregoing, should the date for filing the last annual unemployment compensation report, as described above, not coincide with the date that an eligibility determination is made, the COMPANY shall have the right to file a report, in form substantially similar to an annual unemployment compensation report, and in such event, such report shall constitute the Annual Job Status Report, the filing of which shall begin the running of the forty-five (45) -day period within which payment shall be made. 4. Relocation Commitment. As a condition precedent to and as consideration for obtaining Jobs Grant Funds from the COUNTY, the COMPANY agrees to locate or expand its business operations to Indian River County for a period of at least five (5) years to a suitable site as described on Exhibit "A", which is attached hereto and made a part hereof. 5. Job Creation Commitment. As a further condition precedent to and as consideration for obtaining Jobs Grant Funds from the COUNTY, the COMPANY agrees to create a minimum of 12 Full -Time Equivalent Jobs (of which 11 jobs qualify for the county's local job grant program) in Indian River County as more specifically set forth in Exhibit "B", which is attached hereto and made a part hereof. The Company's failure to maintain its job creation commitment for any one year will result in the forfeiture of the Grant amount it was scheduled to receive for that year; however, such forfeiture will not preclude the Company's receipt of scheduled Grant amounts for subsequent years in which it is able to maintain its job creation commitment. 6. Salary Level Commitment. As a further condition precedent to and as consideration for obtaining jobs grant funds from the COUNTY, the COMPANY agrees to pay each employee whose job is eligible for grants hereunder, an annual average salary of not less than $26,937.00 ($12.95 per hour), without taking into account the value of any benefits. The COMPANY shall provide written verification satisfactory to the COUNTY to such average salaries in accordance with the provisions of paragraph 7 herein below. The COMPANY'S failure to maintain its salary level commitment for any one year will result in the forfeiture of the Grant amount for those Full -Time Equivalent Jobs where the salary commitment was not maintained which it was -3-