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creation commitment. Before receiving any funding, the company must provide to <br /> the County a letter of credit or surety for business performance and minimum length <br /> of stay in the county(5 years). <br /> 6. Salary Level Commitment. As a further condition precedent to and as consideration <br /> for obtaining jobs grant funds from the COUNTY, the COMPANY agrees to pay <br /> each employee whose job is eligible.for grants hereunder,an annual average salary of <br /> not less than $28,585.00($13.74 per hour),without taking into account the value of <br /> any benefits. The COMPANY shall provide written verification satisfactory to the <br /> COUNTY to such average salaries in accordance with the provisions of paragraph 7 <br /> herein below. The COMPANY'S failure to maintain its salary level commitment for <br /> any one year will result in the forfeiture of the Grant amount for those Full-Time <br /> Equivalent Jobs where the salary commitment was not maintained which it was <br /> scheduled to receive for that year; however, such forfeiture will not preclude the <br /> Company's receipt of scheduled Grant amounts for subsequent years in which it is <br /> able to maintain its salary level commitment. <br /> 7. Annual Job Status. The COMPANY must provide the COUNTY with quarterly <br /> unemployment compensation reports(Form UCT-6)of its business operations within <br /> Indian River County on State form UCT-6 as amended which is attached hereto and <br /> made a part hereof as Exhibit"C". The COMPANY shall provide the reports at the <br /> same time it provides the State of Florida with the reports,but no less frequently than <br /> semi-annually. The cumulative unemployment compensation reports required to be <br /> filed for the annual period prior to each eligibility determination shall collectively <br /> comprise the Annual Job Status Report. <br /> 8. Grant Restriction. The Jobs Grant Funds available under this Agreement will be <br /> provided only for reimbursement of expenses associated with the physical move, <br /> relocation and/or expansion of the COMPANY to Indian River County,including but <br /> not limited to corporate or company relocation expenses, infrastructure costs, <br /> leasehold improvements, company. sponsored child day care facilities, .rent for <br /> company facilities,lease buyouts,training expenses and other expenses approved by <br /> the COUNTY. <br /> 9. Default; Termination. In the event the COMPANY defaults in the performance of its <br /> guarantees and commitments as provided for in this Agreement,the COUNTY may, <br /> at its option, terminate this Agreement. <br /> 10. Indemnification. For ten and 0/100($10.00)dollars consideration,receipt of which <br /> is hereby acknowledged, the COMPANY shall indemnify and save harmless and <br /> defend the COUNTY, its agents, servants, and employees from and against any and <br /> all claims, liabilities, losses, and/or cause of action which may arise from any <br /> -4- <br />