2016 014 Ordinance - Laserfiche WebLink

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SECTION II -REPRESENTATIONS OF THE COMPANY The Company makes the following representations and warrants and agrees that it shall be responsible for and comply with all of the following during the Team of this Incentive Grant Agreement: 1. The Company is duly organized, validly existing and in good standing under the laws of the State of Ohio. 2. The Company has performed all necessary and proper corporate action required to enter into this Incentive Grant Agreement, including having the Incentive Grant Agreement duly authorized by its Managing Member. 3. The Company is not in violation of any laws of Ohio to an extent that would impair its ability to carry out its obligations under this Incentive Grant Agreement. 4. The Company shall not change its use of the property in a way that fails to conform to the Village's Ordinances or other laws. 5. Subject to Section V(3) below, the Company shall not close or otherwise cease operations in the Village during the Term of this Incentive Grant Agreement. 6. For each calendar year of the Tenn of this Incentive Grant Agreement, the Company shall generate a minimum income tax revenue of Thirty Thousand Dollars ($30,000.00) ("MITR") in order to be eligible for the Incentive Grant payment. Only income tax revenue generated by the Company, from its location at 600 Beta Drive, as income taxes withheld and/or paid directly to the Village for wages earned in the Village based upon its final net aruiual payroll within the Village, and collected and reported by the Regional Income Tax Agency ("RITA"), will be considered under this Incentive Grant Agreement. For purposes of clarity, the Company's final net annual payroll shall include all wages paid by the Company to W-2 employees, owner/employees not subject to W-2 withholding and contract employees whose wages are reported on IRS Form 1099. The Company must submit documentation to the MCIC of tax payments made to the credit of the Village that are not in the form of W-2 withholding, which inay include but not be limited to individual tax returns and other forms of proof of income tax payments made to RITA for wages earned at 600 Beta Drive. The sufficiency of that documentation will be determined as part of MCIC aiu-iual review. 7. The Company shall timely provide to the Village and the MCIC any information reasonably required by the Village and MCIC to evaluate the Company's compliance with this Incentive Grant Agreement. In addition, the Company shall inform the MCIC as soon as it becomes aware of any inability of the Company to {02075893 -3} Page 3