08/24/2020 BOARD OF SELECTMEN Agenda Packet

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(DRAFT-FOR DISCUSSION PURPOSES ONLY) 2, Annual P&s�'ment. In the event that the Company obtains a Final License, or such other license and/or approval as may be required,for the operation of the Establishment in the Town by the Massachusetts Cannabis Control Commission (the "CC C"), or such other state licensing or monitoring authority, as the case may be, and receives any and all necessary and required permits and licenses of the Town, and at the expiration of any final appeal period related thereto, said matter not being appealed further, which said permits and/or licenses allow-the Company to locate, occupy and operate the Establishment in the Town, then the Company agrees to provide the following Annual Payment for each year this Agreement is in effect; provided, however, that if the Company fails to secure any such other license and/or approval as may be required, or any of required municipal approvals,the Company shall reimburse the Town for its legal fees associated with the negotiation of this Agreement. a. Company shall make bi-annual Payments in an amount equal to three percent (3%) of gross revenue from the sale of all marijuana and marijuana products cultivated and/or manufactured mat the Establishment b. The Annual Payment in each year of operation shall be paid in two (2) six (6) month segments; the first, covering the first six (6) months of the operating year, measured annually form the Opening Date, shall be paid within two hundred forty (240 days and the balance, covering the second six (6)months of the operating year,to be paid within sixty(60 days after the end of the year of operation. c. With regard to any year of operation for the Establishment which is not a full calendar year,the applicable Annual Payments shall be pro-rated accordingly. 3, P,avmentsS Company shall make the Annual Payments set forth in Paragraph 2, above,to the Town of Mashpee. To the extent permitted by a general or special law, the Treasurer of the Town may hold the Annual Payments in a separate account, to be expended by the Town without further appropriation pursuant to G.L. c.44, §53A, or otherwise in trust, for the purposes of addressing the potential health, safety, and other effects or impacts of the Establishment on the Town and on municipal programs, services, personnel, and facilities. Otherwise, said Annual Payments shall be deposited into the General Fund. While the purpose of the Annual Payments is to assist the Town in addressing any public health, safety, and other effects or impacts the Establishment may have on the Town and on municipal programs, services, personnel, and facilities, the Town may expend the Annual Payments at its sole and absolute discretion. Notwithstanding the Annual Payments, nothing shall prevent the Company from making additional donations from time to time to causes that will support the Town, including but not limited to local drug abuse prevention/treatment/education programs. 2