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INDIAN RIVER COUNTY JOBS GRANT AGREEMENT <br /> THIS AGREEMENT is made on the 6th day of September, 2005 by and between Indian <br /> River County, a political subdivision of the State of Florida, by and through its Board of <br /> Commissioners, hereinafter referred to as the COUNTY, and XStream Systems, a corporation <br /> authorized to do business in the State of Florida,hereinafter referred to as the COMPANY,whose <br /> Federal I.D. is 20-1180466. <br /> WITNESSETH: <br /> WHEREAS,it is the policy of the COUNTY to stimulate economic growth in Indian River <br /> County,by either attracting new businesses to Indian River County or by encouraging the expansion <br /> of existing businesses within Indian River County; and <br /> WHEREAS, the creation of new employment opportunities for residents of Indian River <br /> County and the increased tax revenues resulting from such business expansion or relocation within <br /> Indian River County is beneficial to the local economy; and <br /> WHEREAS,the COUNTY has determined that offering a Jobs Grant Program encourages <br /> either businesses to expand within or new businesses to locate in Indian River County and thereby <br /> creates new employment opportunities for the residents of Indian River County; and <br /> WHEREAS,Indian River County,through its Board of County Commissioners,has created <br /> a local Jobs Grant Program and Fund; and <br /> WHEREAS, the COMPANY will relocate to Indian River County and expand its existing <br /> business in Indian River County to create certain new employment opportunities at a certain average <br /> annual salary level in Indian River County in accordance with the county's Jobs Grant Program <br /> criteria; and <br /> WHEREAS,the COMPANY has been determined to be eligible to receive a Jobs Grant by <br /> the COUNTY; and <br /> WHEREAS,the COMPANY acknowledges that this Agreement shall be based upon proven <br /> performance of the requirements of these grant procedures; and, <br /> WHEREAS,the COUNTY finds and declares that it is in the public interest to award a Jobs <br /> Grant to the COMPANY pursuant to the terms of this Agreement. <br /> NOW,THEREFORE, in consideration of the premises and mutual covenants hereinafter <br /> contained, the parties do agree as follows: <br /> -1- <br />