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Cash local match of $250,000 and the in-kind local match of$317,105 shall be referred to herein collectively as (the "Local GOF Match"). Section 4. Repavment Oblhmtion. (a) If Statutory Minimum Requirements are Not Met: Section 2.2-115 of the Code of Virginia requires that the Company make a Capital Investment of at least $5,000,000 in the Facility and create at least 50 New Jobs at the Facility in order to be eligible for the GOF Grant. As noted in Section 2, the Locality acknowledges that the Company has met these statutory minimum requirements. (b) If Statutory Minimum Requirements are Met: For purposes of calculating any repayment due the Commonwealth, $250,000 of the GOF Grant will be allocated for the Company's Capital Investment Target and $250,000 of the GOF Grant shall be allocated for its New Jobs Target. As noted in Section 2, the Locality acknowledges that the Company has met its Capital Investment Target, so there will be no repayment obligation as to the $250,000 of the GOF Grant allocated to the Capital Investment Target. If the Company has met at least ninety percent (90%) of its New Jobs Target by the Performance Date, factoring in the average annual wages paid, then and thereafter the Company is no longer obligated to repay the portion of the GOF Grant allocated to the New Jobs Target. If the Company has not met at least ninety percent (90%) of its New Jobs Target by the Performance Date, the Company shall repay to the Locality an amount proportional to the shortfall. For example, if at the Performance Date, the only 126 New Jobs have been created, the Company shall refund to the Locality forty percent (40%) of the GOF Grant proceeds allocated to the New Jobs Target ($250,000 x 0.4 = $100,000). The New Jobs Target will be determined by comparing the anticipated payroll (agreed number of New Jobs multiplied by the anticipated average annual salary of $70,000) to the actual numbers reported at the Performance Date. The Company shall have no obligation to reimburse the Local GOF Match made by the Locality pursuant to this Agreement. (c) Repayment Dates: Such repayment shall be due from the Company to the Locality within thirty days of the Performance Date or the Determination Date, as applicable. Any moneys repaid by the Company to the Locality hereunder shall be repaid by the Locality promptly to VEDP for redeposit into the GOF Grant. Section 5. Company Reportinl!. The Company shall provide, at the Company's expense, detailed verification reasonably satisfactory to the Locality of the Company's progress on the Targets. Such progress reports will be provided annually, starting at twelve months from the date that the Locality receives the GOF Grant, and at such other times as the Locality may require. All parties agree that the Company has submitted sufficient information to justify the Capital Investment value and no further documentation will be required. -4-