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ECONOMIC DEVELOPMENT AGREEMENT <br /> <br /> THIS AGREEMENT (this "Agreement") is made and entered into this the 22nd day of <br />October, 1998 among CABARRUS COUNTY (the "County"), a political subdivision of the State of <br />North Carolina, the CITY OF CONCORD (the "City"), a municipal corporation of the State of North <br />Carolina, the Water and Sewer Authority of Cabarrus County ("WSACC"), and The BOC Group, <br />Inc., a Delaware Corporation ("BOC"). ' <br /> <br />WITNESSETH: <br /> <br /> WHEREAS, BOC currently plans to construct a facility (the "Facility"), as generally described <br />in the attached Exhibit A, although the plans for such Facility may be modified from time to time by <br />BOC; and <br /> <br /> WHEREAS, BOC has received a proposal from the County which provides for certain economic <br />incentives to encourage the development of the Facility within Cabarrus County, and BOC has <br />considered requesting similar proposals from competing communities; and <br /> <br /> WHEREAS, BOC has determined that the real property located in Cabarrus County, North <br />Carolina, more particularly described on Exhibit B attached hereto and incorporated herein by this <br />reference and ali building, machinery, equipment and other personal property thereon (collectively, the <br />"Property") is a suitable location for the development of the Facility; and <br /> <br /> WHEREAS, in order to encourage BOC to develop the Facility on the Property, and to assist <br />BOC in such activity, the County has offered the incentives and other agreements set forth below; and <br /> <br /> <br />