2011 - 01-31-2011 Reg. Adj. Meeting

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C � eooK 23 iu k1'HEREAS, the Grant is necessary to enable the retention of eight hundred Twenty live (825) full -time jobs consisting of (i) at least eighty six (86) division headquarters'administradve positions in North Carolina, of the natnre of the pnsitinns at the Cary facility al the time nfihe Application, and (ii) al least seven hundred thirty nine (739) positions at the Sanford and Clayton facilities, collectively, representing the total number of employees the Company and Related Member Parry had at these facilities at the time of the Application; W IIEREAS, the Grant is issued pursuant 10 and subject to the terms of N.C. Caen. Stat. § 143B- 43 7 .70 ai set and the Guidelines and procedures for Comntitinent of Funds from the One North Carolina Fund (the "Program Guidelines "); NOW, TH ER F.FORh_ in consideration of the representations set tarth above and the mutual covenants and promises set forth below, the Company and the Applicant hereby agree as follows' 1.0 PERFORMANCE CRITERIA 1.1 The Company and Related Member agree to make good faith efforts to undertake and operate in a timely manner the following project at the following location: A facility that manufactures and assembles the Skid Steer Loader and like machines (the "Facility ") in or at nund the City of Sanford in Lee County, Nnrih Carolina (the .. Project "). All references herein to "Company" shall include the Related Member Party, and required Performance Criteria may be performed by either or both of the Company and the Related Member Party, which both agree to he bound by the obligations set forth herein, in respect thereof; provider however, that ail grant payments shall be made to Caterpillar, Inc., as the Grantee. 1.2 The Company agrees to make good faith effuns to nounnOin its current operations and to maintain a base level of eight hundred twenty five (825) full - timejobs consisting of (i) at least eighty six (86) division headquarters/administrative positions in North Carolina, of the natme of the positions at the Cary facility at the time of the Application, and (ii) at least seven hundred thirty nine (739) positions at the Sant and Clayton facilities (the' Current Jobs "), in addition to any New Jobs to be created at the Facility as a part of this A rcemcm. 1.3 The Company agrees to make good faith efforts to crcatc and maintain as part of the Project, three hundred twenp• five (325) New Jobs, as described in the application to DOC (lire - 'Application "). two hundred luny four (244) of which ntc hnended to be created by December 31, 201 'Fire Nehe Jobs will be nehwjobs to North Carolina and cannot be existine North Carolina positions or employees of the Company, the Related Member, or any of its relied members or affiliates that are transferred or shifted such that a previously existing North Carolinajob, or a North Carolina job that was am previously part of the Project, is counted towards performance under this A.-recment. I A 'I he Company agrees to report job meat ion on the part of a supplier which it causes to locate in North Carolina as a result uh the project activity. lire yontpan)^ will cause the supplier to enter an agreement with respect to providing annual repots during the grant term, in which it will demonstrate and certi ly the number of jobs created, and that it provides its workers with health insurance for which the supplier pays at least 50 %of the cost. LS The average weekly wage paid to employees in the New Jobs will equal or exceed Six Hundred Sixteen Dollars ($616) per week (the "Wage Suindnrd "). One A'0, rh Carnlfnu 1 und.lgreemew 18 -i- 101!/1