Common use of Job Creation Incentive Clause in Contracts

Job Creation Incentive. Buyer has committed to hire and employ individuals for at least forty (40) full-time positions within the Qualification Period plus six months as set forth below. However, the parties each acknowledge that in the Buyer’s particular industry, and in the Buyer’s experience there is regularly a large percentage of turn-over with respect to employees. Therefore, the creation of jobs shall be construed hereunder as the creation of positions rather than being based on the employment of particular individuals. For example, a “position” such as the morning shift cashier may be filled over a six month period by two or three difference individuals based on turn-over, but so long as said position is filled continually then the position shall qualify as a “job” for all purposes hereunder. Since construction of improvements might take up a significant portion of the Qualification Period, the Buyer shall be given the entire Qualification Period to create the required positions, but shall be able to count up to six months following the Qualification Period for the “six consecutive months” as required below. The definition of job shall also include the following definitions: • Job shall be physically located at the site of the project at Exit 118 or within the Virgin Valley (e.g. Corporate Offices, Administrative or Clerical Work). • Job shall be full-time and scheduled to work for an average minimum of 30 hours per week. • Job shall be for at least six (6) consecutive months. • An employee who is engaged solely in the construction of the anticipated improvements shall not have that position count as a required job. • The usage of full-time equivalents shall not be allowed in the calculation of jobs. 3.5.1 Jobs or positions which qualify to be included in the calculation of jobs created for the purposes of the Job Creation Incentive (the “JCI”) include all permanent jobs or positions which have been filled by an individual or individuals for not less than six months. 3.5.2 In order for Buyer to qualify for the Jobs Creation Incentive, Buyer must meet the minimum thresholds set forth in the table below. Discounts to the Purchase Price are provided in 10% increments under the Job Creation Incentive and no partial discounts. Number of Jobs Discount Percentage Amount of Purchase Price 10 or more, but less than 20 10% $161,000 20 or more, but less than 40 20% $322,000 40 or more 30% $483,000 Incentive discounts will be applied once the Buyer submits to the Seller proof of employment in a full time position (e.g. pay stubs) for a position documenting that the full-time position has been filled by an individual or individuals consistently for at least six months.

Job Creation Incentive. Buyer ▇▇▇▇▇ has committed to hire and employ individuals for at least forty (40) full-time positions within the Qualification Period plus six months as set forth below. However, the parties each acknowledge that in the Buyer’s particular industry, and in the Buyer’s experience there is regularly a large percentage of turn-over with respect to employees. Therefore, the creation of jobs shall be construed hereunder as the creation of positions rather than being based on the employment of particular individuals. For example, a “position” such as the morning shift cashier may be filled over a six month period by two or three difference different individuals based on turn-over, but so long as said position is filled continually then the position shall qualify as a “job” for all purposes hereunder. Since construction of improvements might take up a significant portion of the Qualification Period, the Buyer shall be given the entire Qualification Period period to create the required positions, but shall be able to count up to six months following the Qualification Period for the “six consecutive months” as required below. The definition of job shall also include the following definitions: • Job shall be physically located at the site of the project at Exit 118 or ▇▇▇ ▇▇▇▇▇ ▇▇▇▇▇▇ Drive within the Virgin Valley (e.g. Corporate Offices, Administrative or Clerical Work). • Job shall be full-time and scheduled to work for an average minimum of 30 hours per week. • Job shall be for at least six (6) consecutive months. • An employee who is engaged solely in the construction of the anticipated improvements shall not have that position count as a required job. • The usage of full-time equivalents shall not be allowed in the calculation of jobs. 3.5.1 Jobs or positions which qualify to be included in the calculation of jobs created for the purposes of the Job Creation Incentive (the “JCI”) include all permanent jobs or positions which have been filled by an individual or individuals for not less than six months. 3.5.2 In order for Buyer to qualify for the Jobs Creation Incentive, Buyer must meet the minimum thresholds set forth in the table below. Discounts to the Purchase Price are provided in 10% increments under the Job Creation Incentive and no partial discounts. Number of Jobs Discount Percentage Amount of Purchase Price 10 or more, but less than 20 10% $161,000 33,000 20 or more, but less than 40 20% $322,000 40 or more 30% $483,000 66,000 Incentive discounts will be applied once the Buyer submits to the Seller proof of employment in a full time position (e.g. pay stubs) for a position documenting that the full-time position has been filled by an individual or individuals consistently for at least six months.