Agenda Package - 01-31-11 - Laserfiche WebLink

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• WHEREAS, the Grant is accessary to enable the rctcntiun a eight hundred raetm Irvc (925) full -ume _jobs consisting of (i) at lead eighn• six (86) di vu ion headquartets'ad nt in istrauce positions In Nor[It Carolina, of the. nnlurr of the. Pnsuinns at the Can' htcility a[ the lime of [he Application, and (ii) at (cast sewn hundred [hit ay nine (739) positions at the Sanford and Clayton facilities, co Ilectivcly, representing the total number of employees the Cnpanv and Related Member Party had m these facilities at the time of the \pplicationi i A'Ii FREAS, the Grant is issued pursuant [o and subject 10 the [elms of N.0 Gcn, Slat.: Ir136- 437.70 o/ soq. and the Guidelines and Procedures for Commitment of - Funds from the Onc Norih Carolina Fund (the : Program Guidelines NOW, TIA FR FPOI2B, in cmuidcralion nrll:e rCnticniztimte set Ihrth .^.have and the mutual covenants and promises set forth below, the Companv and the :Applicam hereby agree as follows 1.0 PERFORMANCE CRI FERIA I.) The Company and Related Member agree to make good faith cf1urts to undertake and operate in a liniely manner the following projzct at the following location: A fecility that ntmutfccnnes and assembles the Skid Sicci Loader and like machines (the '`l-acil i[v " ) in nr around the City of Smhlnra in La;; Cnuniv. North (_;u'nlim (tile 'Project'). All references herein to'Company° shall include the Relined Member Party, and required Performance Criteria niav be perforated by either or both of the Compan and the Related Member Party, which both agree to be bound by the obligations set forth herein, in respect thereof provider howCVLr, dtat :III grant pzvntents shall be made to Caterpillar, Inc., as the Grantee. • 13 fhe Company agrees to make gaud 1:11111 clfurls lu Ill s ill all I it_ curtail vperutivru and to maintain a base level of eight hundred twenty tive (825) full- timcjobs consisting of(i) at least eighty six (86) division headquaricnrndministntive positions in North Carolina, of the nature of the positions m the Cary focility at the time of the Application, and (it) at least seven hundred [hire- nine (739) positions at the Sanford and Clavion facilities (the "Current Jobs' ), in addition to am Nov Jobs to be cleated at tine Facility as a pan of ;his Agreement. The Companv agrees to make `loud faith pffuns to craal0 ;wd mi intrim as part of the Project, three hundred mcmn five (32 5) New Jnhs_ as described in, the application to DOC (the 'Application ")_ MU hundred furl lour ('44) of ,high ate intended to be cicatcd by Dcecmbtr J I. 2013. 'Ilie Nev, Jobs gill be nely jobs to North Carolina and cannot be exist ina North Carolina positions or employees of the Company, the Related Member, or any of its related members or affiliates that are transferred or shifted such that a previously existing North Carolina job, or ;I North Carolina jnh Thal was not previously pan of the PrnjecL is counted towards per under this ANrcemenl. I A The Cumpam agrees to report job crearion on the part of a supplier which h cruse; to locate in Nunh Carolina a; a result of the pruje❑ oclivity. The cunipan) will cause the snpplitr to cntcr an agreement with respect to providing annual reports during the grain tern, in which it will demonstrate and zcTuIN the number of jobs created, and that it provides its htcakels pith hculth insurance for which the supplier pays at least 50%of the cost. IS The average weekly .gage paid to employees in the New Jobs will equal or exceed Six I- hundred Sixteen Dollar:; ($616) per ycck (;he "Wogc Standard' • (Jut orlh(rrn :Gr,: I'unr!aerr.'n, ru r3 -5 11 );'1)