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STATE OF NORTH CAROLINA ECONOMIC DEVELOPMENT <br /> GRANT AGREEMENT <br /> COUNTY OF CABARRUS (Project G2 Applicant) <br /> This ECONOMIC DEVELOPMENT GRANT AGREEMENT (the "Agreement") <br /> is made and entered as of the day of , 2017, by and <br /> between CABARRUS COUNTY, a body politic and political subdivision of the State of <br /> North Carolina ("County"), and PROJECT G2 APPLICANT, a corporation ("Project G2 <br /> Applicant"). <br /> RECITALS <br /> 1. Project G2 Applicant is considering expanding its existing manufacturing <br /> capability in its building in the County(the "Facility")by installing furniture, fixtures and <br /> equipment in the Facility in three phases at an estimated total cost of at least Two <br /> Hundred Twenty Six Million, Three Hundred Fifty Thousand Dollars ($226,350,000.00) <br /> ("New Investment"). <br /> 2. The County has previously adopted an Industrial Development Grant <br /> Program(the"Program"), a copy of which is attached as Exhibit A and incorporated by <br /> reference, the public purpose of which is to encourage economic growth and <br /> development within the County. <br /> 3. Cabarrus Economic Development, Inc. (the "EDC")has reviewed the <br /> Project G2 Applicant application for inclusion in the Program and EDC's overview is <br /> attached as Exhibit B and incorporated by reference. <br /> 4. Project G2 Applicant has determined that conservatively it will add <br /> approximately 202 full time employees in three phases, with a probable average annual <br /> wage of$62,486.00. <br /> 5. To induce Project G2 Applicant to locate the New Investment in the <br /> Facility and to assist Project G2 Applicant in that activity, the County has offered <br /> incentives to Project G2 Applicant generally consistent with the Program. <br /> In consideration of the mutual promises set forth in this Agreement and other <br /> good and valuable considerations, the receipt and sufficiency of which are acknowledged <br /> by the parties, the County and Project G2 Applicant agree as follows: <br /> COVENANTS, TERMS and CONDITIONS <br /> 1. Tax Grants. Pursuant to the Program, as modified, the County shall in <br /> accordance with and as provided by this Agreement, pay to Project G2 Applicant an <br /> economic development grant (the "Grants") as follows: <br /> 1 <br /> Attachment number 3\n <br /> G-1 Page 114 <br />