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,. ?4 .,, 633 <br />WHEREAS, the Grant is issued pursuant to and subject to the terms of N.C. Gen. Star. § 14313- 437.70 <br />et seq. and the Guidelines and Procedures for Commitment of Funds from the One North Carolina Fund <br />(the "Program Guidelines "); and <br />WHEREAS, the Guarantor has agreed to guarantee the performance and obligations of the Company <br />hereunder, and its guaranty is made for the benefit of the DOC and the Local Government and to induce the <br />DOC and the Local Government to enter into this CPA, in consideration of the benefits provided to the <br />Company and to the Guarantor by virtue of its ownership interests; <br />NOW, THEREFORE, in consideration of the representations set forth above and the mutual <br />covenants and promises set forth below, the Company, the Guarantor, and the Local Government hereby <br />agree as follows: <br />1.0 PERFORMANCE CRITERIA <br />In order to be eligible for the full amount of the Grant, the Company must fulfill the following <br />requirements: <br />1.1 The Company shall undertake and operate in a timely manner the following project at the <br />following location (the "Project "): <br />An expansion of an engineered plumbing products manufacturing plant (the "Facility) at <br />which the company will warehouse Zurn tubular and AquaSpec product lines in or around <br />5901 Elwin Buchan Drive in the City of Sanford, in Lee County, North Carolina. <br />1.2 The Company shall maintain its current operations at its facilities in North Carolina and a base <br />level of Retained Jobs in North Carolina, in addition to any New Jobs to be created as part of this <br />CPA. <br />1.3 The Company shall make good faith efforts to create and maintain the Target New Jobs as part of <br />the Project, as described in the Company's application to DOC (the "Company Application "). <br />The New Jobs must be filled by employees hired for the Project on or after the Effective Date, <br />who work for at least thirty -five (35) hours per week, and whose wages are subject to withholding <br />under Article 4A of Chapter 105 of the General Statute. Independent contractors, consultants, <br />seasonal and temporary employees are not to be included as New Jobs. In order to be eligible for <br />the full Grant, the Company must create thirty eight (38) New Jobs (the "Required New Jobs ") <br />100% of the Target New Jobs), by October 14, 2014 (the "Grant End Date," which shall be three <br />years from the date on which the Grant was formally awarded) (the period between October 14, <br />2011 and October 14, 2014, the "Grant Period "). <br />The New Jobs will be new jobs and cannot be existing North Carolina positions or employees of <br />the Company or the Guarantor or any of their related members that are transferred or shifted such <br />that a previously existing North Carolina job, or a North Carolina job that was not previously part <br />of the Project, is counted towards performance under this CPA. <br />One NC Company Performance Agreement <br />Zurn Industries, LLC <br />Lee County <br />2— <br />