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STATE OF NORTH CAROLINA ECONOMIC DEVELOPMENT <br /> GRANT AGREEMENT <br /> COUNTY OF CABARRUS (Project Laser) <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 LASER APPLICANT, a <br /> ("Laser"). <br /> RECITALS <br /> 1. Laser is considering leasing 100,000 square feet in a building in the <br /> County(the "Facility") and constructing new leasehold improvements and installing <br /> furniture, fixtures and equipment in the Facility at an estimated cost of at least One <br /> Million, Five Hundred Thousand Dollars ($1,500,000.00) ("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 /> Laser application for inclusion in the Program and EDC's overview is attached as Exhibit <br /> B and incorporated by reference. <br /> 4. Laser has determined that location of a light manufacturing and fulfillment <br /> facility at 1000 Derita Road in Concord,North Carolina(the"Site") in the County is a <br /> suitable location for the placement of the New Investment in the Facility. <br /> 5. Laser has determined that it will employ approximately 20 existing full <br /> time transferred employees (from another county) and within a year another 10 full time <br /> employees at the Facility, with a probable average annual wage of$37,080.00. <br /> 6. To induce Laser to locate the New Investment in the Facility at the Site <br /> and to assist Laser in that activity,the County has offered incentives to Laser generally <br /> 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 Laser agree as follows: <br /> 1 <br /> Attachment number 3\n <br /> G-2 Page 81 <br />