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091 <br />after the effective date of this agreement who work at least thirty-five (35) <br />hours per week and whose wages are subject to withholding under Article 4A <br />of Chapter 105 of the General Statutes. All New Jobs must have an average <br />annual wage of $39,303.00. <br />d. Should it become necessary, after the effective date of this Agreement, for a <br />New Job to be counted by the Company as an Existing Job for purposes of <br />maintain the base level of existing jobs required by this Agreement, that job <br />may not be counted as a New Job. A job created or retained pursuant to the <br />terms of this Agreement may not simultaneously count as both a New Job and <br />an Existing Job. <br />e. Taxable Investment. The Company agrees to make a privately funded taxable <br />investment in machinery, equipment, and taxable improvements as part of this <br />Project which will amount to at least thirty-seven million, two hundred <br />thousand dollars ($37,200,000.00). The Company agrees to make taxable <br />investments each year of the agreement, as set forth in Attachment A. If <br />requested by the County, the Company must show proof of said taxable <br />investment before an incentive payment will be paid each year. <br />f. The Company's compliance with all Performance Criteria set out in this <br />Agreement shall be attested to quarterly under oath by any officer of the <br />Company. <br />6. Closeout. The County will close out the Grant on the first of the following to occur <br />(hereinafter "Closeout") <br />a. The date as of which the County has received and accepted proof reasonably <br />satisfactory to it that the Project has been completed and all the Performance <br />Criteria have been satisfied or; <br />b. End date <br />7. Obligation to Repay Grant Funds. If, for any reason, at any time during the period <br />of this Agreement, the Project shall not satisfy the minimum conditions set forth in <br />this Agreement, then the County shall NOT pay the incentive grant, reduce the <br />amount of the incentive grant, and/or seek reimbursement from the Company that <br />received any incentives made possible by this grant, as set forth herein, the Company, <br />or any party, shall remit such incentive funds promptly to the County and the <br />Company shall bear all costs of collection. <br />If the Project as described in this Agreement and the attached exhibits does not meet the <br />Performance Criteria set out herein and the standards for the incentive paid as set out in Exhibit <br />A which is hereto attached, all or part of the Grant Award must be repaid as follows: <br />a) If 1) the amount of the ad valorem taxes paid to the County over the term of this <br />agreement which are attributable to this Project has not been sufficient to pay to the <br />County the amount of incentives paid from County funds, which could amount to <br />$512,238.00 in the next five fiscal years, and/or 2) the total number of New Jobs do <br />not have an average annual wage of $39,303.00, or such New Jobs are not created and <br />maintained through the end of the Incentive Period as set forth in Paragraph 1 of this <br />