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STATE OF NORTH CAROLINA ECONOMIC DEVELOPMENT AGREEMENT COUNTY OF CABARRUS (CELGARD, LLC) THIS AGREEMENT ("Agreement") is entered into effective April _, 2010 by and between CELGARD, LLC, a Delaware limited liability company (the "Company"), a wholly owned subsidiary of Polypore International, Inc., a Delaware corporation, and the COUNTY OF CABARRUS, North Carolina, a body politic and political subdivision of the State of North Carolina (the "County"), and describes the agreement between the,. parties relating to an economic development project to assist the Company in the location `of a battery membrane research, manufacturing and distribution facility at the Site (as defined below). RECITALS: WHEREAS, the County is vitally interested in the economic welfare of its citizens and the creation and maintenance of sustainable jobs for its citizens in strategically ..important industries and therefore wishes to provide the necessary conditions to stimulate investment in the local economy and promote business, resulting in the creation of a substantial investment in the County and to encourage economic growth and development opportunities which the County has determined will be made possible pursuant to the Project (as defined below). WHEREAS, the Company is engaged in state-of--the-art battery separator research, manufacturing and distribution and is a premier provider_ of products and services required for customers worldwide to build their battery cells .and other industries relying on stored energy, such as transportation, and Company is recognized by the United States government as a leader in battery separator development and manufacturing. WHEREAS, the Company has proposed to make a capital investment of at least $57,400,000 at the Site in tlu-ee phases; all in the=form of a battery research, manufacturing and distribution facility. Such manufacturing and distribution facility and other buildings that are owned and operated by the Company. and used in connection with the Company's business that are located on the Site (as defined below) are referred to herein as the "Facility." The Facility, along with the land constituting the Site is referred to herein as the "Project." WHEREAS, the County recognizes that the Project will bring direct and indirect benefits to the County, including job creation, economic diversification and stimulus and training in technology and manufacturing skills, and has offered economic development incentives (the "County Incentives" as defined below) to induce the Company to locate the Project at the Site. WHEREAS, the Company fully intends to establish tluough the Project an important presence in the County by employing a large number of local employees and making a substantial investment in the Project and in the training and development of those employees. The County hereby acknowledges that the terms of this Agreement, including specifically the County Incentives and other assistance described in this Agreement, constitute a dispositive inducement to the Company to locate the Project at the Site. Similarly, the Company hereby G-2 Pag~ageo~~~