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023 <br />from the COMPANY that received any incentives made possible by this grant, as set forth <br />herein. COMPANY, or any party, shall remit such incentive funds promptly to the COUNTY <br />and the COMPANY shall bear all costs of collection. <br />If the Project, as described in this Agreement and the attached Exhibit(s), does not meet the <br />Performance Criteria set out herein and anticipated in the execution of this agreement, all or part <br />of the Grant Award must be repaid as follows: <br />a. I£ 1) the amount of ad valorem taxes paid to the COUNTY over the term <br />of this agreement which are attributable to this project has not been <br />sufficient to pay to the COUNTY the amount of incentives paid from <br />COUNTY funds, which could amount to $530,424.00, (FIVE HUNDRED <br />THIRTY THOUSAND, FOUR HUNDRED TWENTY FOUR DOLLARS <br />DOLLARS) in the next six fiscal years, and/or 2) the total number of New <br />Jobs created does not equal or exceed 15 (FIFTEEN), or such New Jobs do <br />not have an average annual wage of $31,200 (THIRTY ONE THOUSAND, <br />TWO HUNDRED DOLLARS), or such New Jobs are not created and <br />maintained or Existing Jobs are not maintained through the end of the <br />Incentive Period as set forth in Paragraph 1 of this Agreement, then, in any <br />event, the COUNTY shall reduce the grant amount paid from COUNTY <br />funds in the following manner: <br />(1) If the ad valorem taxes paid by the COMPANY do not meet <br />the required minimum amount of taxable investment of least <br />$28,000,000 (TWENTY-EIGHT MILLION DOLLARS) as <br />set out herein, the COUNTY will reduce the total incentive <br />grant by a prorated amount based off the percentage of actual <br />investment. <br />(2) If the COMPANY does not meet the requirements for New <br />Jobs, including number of jobs, average annual wage, and/or <br />maintaining such New Jobs through the end of the Incentive <br />Period as set forth in Paragraph 1 and pursuant to the <br />provisions of this Agreement, COUNTY shall reduce the <br />total incentive grant by a prorated amount based off the <br />percentage of New Jobs not meeting the criteria and/or shall <br />refund any amount paid for that incentive year. <br />(4) If any Existing Jobs are eliminated or cease to exist prior to <br />Closeout and after any grant payment by the County, then <br />the Company shall repay the County part of the Grant at a <br />prorated amount per Existing Job eliminated or not <br />maintained through Closeout. <br />5 <br />Project Flint Incentive Agreement — 11.20.15 <br />