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STATE OF NORTH CAROLINA ECONOMIC DEVELOPMENT <br /> GRANT AGREEMENT <br /> COUNTY OF CABARRUS (Project Hercules II) <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 HERCULES II APPLICANT, a <br /> ("Hercules II"). <br /> RECITALS <br /> 1. Hercules II is considering leasing one million square feet in a building in <br /> the County(the "Facility")to be constructed by TPA Group and constructing new <br /> leasehold improvements and installing furniture, fixtures and equipment in the Facility at <br /> an estimated cost of at least Thirty-Five Million Dollars ($35,000,000.00) ("New <br /> 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 /> Hercules II application for inclusion in the Program and EDC's overview is attached as <br /> Exhibit B and incorporated by reference. <br /> 4. Hercules II has determined that location of an on-line retail <br /> fulfillment/distribution facility at 6521 Macedonia Church Road in Kannapolis,North <br /> Carolina (the "Site") in the County is a suitable location for the placement of the New <br /> Investment in the Facility. <br /> 5. Hercules II has determined that it will employ approximately 600 full time <br /> employees at the Facility, with a probable average annual wage of$31,140.00. <br /> 6. To induce Hercules II to locate the New Investment in the Facility at the <br /> Site and to assist Hercules II in that activity, the County has offered incentives to <br /> Hercules II 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 Hercules II agree as follows: <br /> 1 <br /> Attachment number 3\n <br /> G-1 Page 217 <br />