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JOBS GRANT AGREEMENT BETWEEN INDIAN RIVER COUNTY <br /> AND <br /> PARABEL USA, INC. <br /> THIS INDIAN RIVER COUNTY JOBS GRANT AGREEMENT("Agreement")is made <br /> as of the I` day of March, 2016 (the "Effective Date") by and between Indian River County, a <br /> political subdivision of the State of Florida,by and through its Board of Commissioners,hereinafter <br /> referred to as COUNTY, and Parabel USA,Inc.,a company authorized to do business in the State of <br /> Florida, hereinafter referred to as COMPANY. <br /> BACKGROUND RECITALS: <br /> WHEREAS, it is the policy of 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 expansions or relocations within <br /> Indian River County is beneficial to the local economy; and <br /> WHEREAS, COUNTY has determined that offering a Jobs Grant Program encourages <br /> businesses to expand within or new businesses to locate in Indian River County and thereby creates <br /> 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 <br /> WHEREAS,COMPANY, in accordance with the county's Jobs Grant Program criteria,will <br /> expand its business in Indian River County to create 41 additional Rill time jobs which pay at least <br /> 75% of Indian River County's average annual wage level; and <br /> WHEREAS,COUNTY has determined that COMPANY is eligible to receive a Jobs Grant; <br /> and <br /> WHEREAS, COMPANY acknowledges that this Agreement shall be based upon <br /> compliance with County jobs grant program requirements; and, <br /> WHEREAS, COUNTY finds and declares that it is in the public interest to award a Jobs <br /> Grant to 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. Definitions. As used in this Agreement, the following terms shall mean: <br /> -1- <br />