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G0 <br />o The first 5261,000 of Grant will be disbursed following analysis of the <br />Company's grant year 201 1 annual report under the Cornpanv s CEDA <br />and proof that the Company has: <br />• Created and retained not less than 106 of the New jobs, <br />• Made statutorily qualifying expenses in the amount to be <br />disbursed. <br />• Obtained all required environmental permits, if am_ and <br />Retained 100% (825) of the existing jobs. <br />o fhe second S162,000 of the Grant will be disbursed following analysis of <br />the Company's grant year 2012 annual report under the Company s CEDA <br />and proof the Company has: <br />Created and retained not less than 172 of the New jobs <br />\4ade statutorily qualifying expenses in the amount to be <br />disbursed. and <br />Retained 100% (825) of the existing jobs. <br />o The fin, <br />it $177,000 of the Grant will be disbursed following analysis of the <br />Company's grant year 2013 annual report under the Company's CEDA <br />and proof the Company has <br />Created and retained not less than 241 of the New jobs <br />Made 90% of the required investment ($25,470.000) <br />Made statutorily qualifying expenses in the amount to be <br />disbursed. and <br />Retained 100% (82 5) of the existing jobs. <br />The Company shall be eligible for Grant payments only if the required minimum <br />number ofjobs are created each year, as specified in paragraphs 2.1(a), (b) and (c) <br />of the CPA and the final Grant payment will only be made if the Company <br />demonstrates compliance and requests a disbursement by May 30, 2014 for job <br />creation as of December 31. 2013. <br />DOC will close out the perforn period for which the Company is eligible for <br />Grant payincnts on December 31, 2013( "Eligibility Closeout "). <br />Obligation to Repay at Eligibility Closeout <br />11. at Eligibility Closeout, the Company is not in compliance with the performance <br />requirenenis of the CEDA, the Company will be in default of the Ai no final <br />payment will be made, and the Company will reimburse DOC the total amount of Grant funds previously disbursed by DOC to the Applicant. <br />C of"i h, Ln'. Lra Clnuui <br />rJCr .'�C Tcnn Sgeei Y y[0 <br />